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Category: Scandinavia

  • MIL-OSI Europe: Written question – Unknown chemical status – E-000558/2025

    Source: European Parliament

    Question for written answer  E-000558/2025
    to the Commission
    Rule 144
    Anders Vistisen (PfE)

    Denmark would like to modify the intercalibration of environmental objectives as regards the status of the Baltic Sea and Danish fjords and straits under the WFD[1] (GES[2]). In this connection, Denmark would like to lower the limit value for chlorophyll in order to comply with the GES objective for the Baltic Sea.

    Sweden and Germany have followed the WFD as regards the baseline analysis (WFD, Annex V); they have carried out the requisite analyses for chemical substances and concluded that the two countries’ water bodies have ‘poor WFD status’.

    In Denmark, these analyses have not been carried out to such an extent that they can be used in river basin management plans; and, in the baseline analysis and subsequently in the management plans, Denmark has made reference to ‘unknown chemical status’.

    • 1.Will it be possible to carry out an intercalibration exercise involving Denmark, Sweden and Germany if Denmark has termed chemical status ‘unknown’?
    • 2.Is it possible to comply with chemical requirements and obligations under the WFD if there is no knowledge of stressors (unknown status) other than nitrogen and to carry out subsequent intercalibration?
    • 3.As regards achieving good chemical status, ‘unknown chemical status’ strongly suggests that the data basis is inadequate. How can it be demonstrated that the WFD requirement for GES will be achievable?

    Submitted: 6.2.2025

    • [1] WFD – Water Framework Directive (https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32000L0060).
    • [2] GES – Good ecological status.
    Last updated: 18 February 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Adapting organic crop production conditions – E-000557/2025

    Source: European Parliament

    Question for written answer  E-000557/2025
    to the Commission
    Rule 144
    Christine Schneider (PPE)

    Point 1.5 of part I of Annex II to Regulation (EU) 2018/848 of the European Parliament and of the Council of 30 May 2018 on organic production and labelling of organic products allows crop growing in demarcated beds only for surfaces that were certified as organic before 28 June 2017 in Finland, Sweden and Denmark. That enables producers to continue to grow crops organically in those countries. The provision ensures continuation of organic production in the Nordic countries. Point 1.1 actually provides that organic crops must be produced in living soil.

    • 1.To what extent is securing continuation of organic production of relevance for the Commission, and on the basis of what criteria is that being made possible?
    • 2.What other crops can continue to be grown organically, throughout the EU, possibly only under regionally adapted production conditions?
    • 3.To what extent would it be conceivable to extend plant protection options for vines to include the use of potassium phosphonate until the end of bloom in wet growing areas in the EU in order to secure organic wine production there?

    Submitted: 6.2.2025

    Last updated: 18 February 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Regulating the number of wolves in the EU Member States – E-000598/2025

    Source: European Parliament

    Question for written answer  E-000598/2025
    to the Commission
    Rule 144
    Kristoffer Storm (ECR)

    Regarding the Commission’s proposal on changing the status of wolves from ‘strictly protected’ to ‘protected’, we ask the Commission the following:

    • 1.What does it take for an EU Member State to qualify for regulating the number of wolves in their country?
    • 2.Is it possible for Denmark to regulate its number of wolves, based on this proposal?
    • 3.If it is possible, what number is Denmark allowed to regulate, and in what way?

    Submitted: 10.2.2025

    Last updated: 18 February 2025

    MIL OSI Europe News –

  • MIL-OSI Economics: Microsoft announces latest investment in Europe, $700M for computing capacity in Poland

    Source: Microsoft

    Headline: Microsoft announces latest investment in Europe, $700M for computing capacity in Poland

    This morning, I stood in Warsaw with Poland’s Prime Minister, Donald Tusk, and announced Microsoft’s latest cloud and AI infrastructure investment in Europe. Building on our initial billion-dollar investment to launch a Polish cloud region in 2023, I announced that Microsoft will spend another $700 million by the middle of next year to expand our computing capacity in the country. And we will deepen our work with Polish National Defense to strengthen Poland’s cybersecurity, including by working together on the development of AI competencies and emerging digital technologies, including new AI and quantum breakthroughs. 

    This marks the latest critical step for Microsoft’s business, economic, and political relationships in Poland – and in Europe as a whole.  

    During the past 16 months, we have announced more than $20 billion in AI and cloud infrastructure investments that represent an important part of our datacenter expansion across 15 European countries. Today’s investment in Poland builds on the integrated supply chain we are building with manufacturers across the EU. It calls on suppliers that are manufacturing critical components not only in Poland but in Italy, France, Germany, Finland, Ireland, and the United Kingdom. It also includes components manufactured and exported from Indiana in the United States. It’s the type of investment that creates jobs and fosters economic growth throughout Europe and across the Atlantic. 

    Promoting Trans-Atlantic Investment, Trade, and Economic Growth 

    The American technology sector is creating world-leading AI technology and is focused on being a trusted “partner of choice” around the world. And European policy leaders are focused on mobilizing more capital and increasing productivity by “closing the innovation gap.” Even in a time of fragmenting geopolitics, today’s announcement illustrates that these two technology ambitions are more aligned than divergent.  

    In multiple ways, our investment in Poland puts both these goals into practice. It demonstrates how vastly the technology sector has changed since I first joined Microsoft as an employee in Paris more than 31 years ago. While we develop and provide world-leading technology products and services globally, we now support these with enormous national investments in infrastructure and large numbers of local employees. More than ever, technology requires coordinated investments that connect countries and span oceans. 

    Sustained Technology Support During a Decade of Crises 

    Equally important, technology has become a lynchpin for national needs in times of crisis. European Commission President Ursula von der Leyen has aptly put recent history in perspective. As she highlighted, Europe faces a competitiveness challenge that comes as the third crisis of the 2020s, after the pandemic and the war in Ukraine.  

    It’s worth reflecting on the critical role of technology in helping to support the responses needed for each of these crises. 

    Five years ago this month, the first pandemic in a century literally started to shut doors around the world. At Microsoft, our employees and partners used new video and productivity technology like Teams to keep the economy moving forward in every corner of Europe. In just days, businesses, schools, universities, hospitals, and governments sustain their operations by moving online.  

    Two years later, the Russian military invaded Ukraine. At Microsoft, we helped move Ukraine’s critical data and technology services to our datacenters across Europe, ensuring their continued operation outside the range of cruise missile and air attacks. And like several other technology companies, we immediately helped Ukraine’s officials and citizens defend their nation from Russian cyberattacks. As a company, we provided more than $250 million of free technology and financial assistance. And we have sustained this substantial support to this day. 

    As Europe now launches a new “competitiveness compass,” technology will again play an indispensable role. Especially as working-age populations shrink and aging populations expand, economic growth and prosperity will depend more than ever on new technology. Productivity growth will require it. And the competitiveness of Europe’s many great industries and companies, large and small, will depend on their ability to hone their ongoing leadership in critical scientific domains and put their data to work. Across the continent, European institutions will need to harness the power of AI and the cloud. 

    A Strong Foundation for Europe’s AI Transition 

    AI is rapidly becoming what economists call a General Purpose Technology, or GPT. In contrast to single-purpose technologies, GPTs boost innovation and productivity across the entire economy. Throughout history, transformative GPTs like ironworking, electricity, machine tooling, computer chips, and software have not only driven economic growth but sparked new discoveries and inventions, changing the way we live and work.  

    The good news is that the foundation for Europe’s AI transition is already being laid. Industry leaders are investing tens of billions to construct state-of-the-art infrastructure to help Europe access, adopt, and innovate on the world’s most advanced cloud and AI technology. And companies like Microsoft are developing and offering innovative AI tools and vital services that are ready for use by every sector of every European economy.  

    As a company, we are developing and operating our AI infrastructure and platform services with a constant focus on Europe’s needs. This is one reason we announced our AI Access Principles in Barcelona a year ago. These eleven principles govern our operations and are designed to ensure that Microsoft’s AI infrastructure is accessible, open, and available on fair terms to the entire European economy.  

    As we’ve put these principles into practice, we’ve recognized the vital role of open-source software and AI models for European researchers, start-ups, businesses, and governments. We’ve launched the Azure AI Foundry, a platform designed to help developers build, run, and optimize AI-driven applications. The Foundry supports flexible choices and now supports more than 1,800 AI models, from OpenAI’s o3-mini to open-source models like Llama, Mistral, and others, all giving Europe the tools it needs to stay competitive in the fast-moving AI landscape. European developers can then use our Models as a Service offering to distribute their products instantly to our datacenters around the world, so customers can call on them for AI-powered applications. 

    We also recognize that technology innovation requires investments in people. That’s why we’re investing in our AI Skilling Initiative across Europe. We’re partnering with government, education, industry, and civil society to help bring AI skills to users, developers, and organizational leaders. Through our strategic partnerships, we have already helped to skill 2.9 million Europeans and are on track to engage 8 million people by the end of the year. 

    Technology Collaboration Built on Interdependence 

    We readily recognize that European leaders sometimes worry about becoming overly dependent on American technology. We appreciate that such questions are both natural and legitimate. We take them seriously and work hard to address them, including by understanding European values, supporting European needs, and adapting to European rules.  

    Along the way, we often point to a second technology dimension that too easily is overlooked. The reality is that this dependence runs both ways.  

    As a company, we’re pouring tens of billions of dollars of investment into acquiring land, constructing massive buildings, bringing additional electricity to the grid, and installing the world’s most advanced computing, networking, liquid cooling, and other technology.  

    These datacenters are not built on wheels.  

    Once constructed, these billions of dollars in infrastructure are permanent and subject to local laws, regulations, and governments. Time inevitably brings changes. It’s imperative as a company that we constantly remain focused on earning and sustaining our “license to operate” within each country. With datacenters, this starts with each local community and runs up to officials with EU-wide responsibilities. Our economic dependence on Europe runs deep. 

    As Microsoft celebrates its 50th birthday less than two months from now, we look back at more than four decades of European presence and support. As a company, we’ve seen many things change. And we ourselves have changed. We’ve put down deep roots, with employees and families in communities and countries across the continent.  

    But even amid constant change, one thing has been constant. Our support for Europe has been not only steady but steadfast.  

    MIL OSI Economics –

  • MIL-OSI Security: Defense News: U.S. Navy EOD Conducts Arctic Warfare Exercise ‘Arctic Specialist’ with NATO Allies in Norway

    Source: United States Navy

    Arctic Specialist is an annual Norway-hosted multinational joint EOD and expeditionary mine countermeasures (ExMCM) exercise providing training at the platoon and squad level and the development of land and maritime EOD tactics, techniques and procedures (TTPs) in a cold-weather environment. Allied forces from Denmark, Norway, and Sweden trained alongside U.S. forces at this year’s event.

    “Arctic Specialist represents one of the premier exercises where Thunderstealers hone our cold weather survival, EOD, and diving skills,” said Cmdr. John Kennedy, Commander, Task Group (CTG) 68.1 (EODMU 8). “The opportunity to train alongside such capable Allies builds confidence in our ability to deploy to the Arctic region and sustain combat operations.”

    According to the Department of Defense’s 2024 Arctic Strategy, “Major geopolitical changes are driving the need for this new strategic approach to the Arctic, including Russia’s full-scale invasion of Ukraine, the accession of Finland and Sweden to the NATO Alliance, increasing collaboration between the People’s Republic of China (PRC) and Russia, and the accelerating impacts of climate change. This increasingly accessible region is becoming a venue for strategic competition, and the United States must stand ready to meet the challenge alongside Allies and partners.”

    While arctic strategy and presence is a growing priority for the U.S. military, training for arctic warfare with our Allies in the high north is not a new initiative for U.S. Navy EOD. In 1986, Norway began hosting an annual “EOD Ex”, which in 2012 became Arctic Specialist.

    “This is my 14th year participating at this exercise. The value of it, beyond working together on realistic scenarios and exchanging knowledge and TTPs, is getting to know other nations. Learning cultural respect and traditions, their working methods, the ‘do’s and don’ts’. Whatever the operation is going to be, it is important to get to know your Allies on a deep level,” said a Lieutenant Commander Operations Officer of Norwegian Naval EOD Command.

    The exercise has continued to provide an excellent training ground for EOD operators to hone their skills and operate in a uniquely challenging environment alongside NATO Allies and partners. Unique to this year’s exercise was the participation of Sweden, NATO’s newest member, for the first time.

    Participation in such exercises will enable our EOD and diving forces to increase warfighting skills in arctic conditions, use lessons learned from past engagements, and provide opportunities to learn from our Allies’ extensive cold weather operating experience.

    During the 11-day exercise, EOD and MCM forces exchanged knowledge for countering regional and global security threats. A multinational Tactical Operations Center (TOC) was established to provide command and control, intelligence, and advanced communications for all participating units.

    Beyond in-depth training on cold weather survival techniques, the exercise included live demolition for mine countermeasure diving, conventional munition disposal, limpet mine response, historical ordnance disposal operations (HODOPS), and chemical and homemade explosive (HME) response. All training was designed with an emphasis on integrated multinational operations at the tactical level in preparation for major combat operations.

    EODMU 8’s MCM Company Commander, Lt. Andrew Lewis, said, “Forward deploying our team to Norway has been critical to our development of warfighting skills in arctic conditions. Through working with our peers from Denmark, Sweden, and Norway—subject matter experts who live and operate in this environment year-round—we have gained a new understanding of and respect for the difficult conditions we could face while operating in the Arctic. Exercises like Arctic Specialist allow us to continue improving our knowledge, skills, and tactics by conducting increasingly complex and high-end missions, and to build lasting bonds with our Allies.”

    As the arctic security environment evolves, training, exercising, and operating in the Arctic will improve U.S. Navy EOD’s operational effectiveness by familiarizing the expeditionary Force with the unique and demanding operating environments of the European Arctic region. By exercising alongside Arctic Allies, the Force continues to improve interoperability and gains regional expertise.

    “This exercise is designed for the operators. The focus is ground level training, developing the skills of the EOD technicians, and everyone getting stronger,” said a Lieutenant from Norwegian Naval EOD Command.

    Before AS kicked off, a platoon of U.S. Navy EOD operators from EODMU 8 and Norwegian Navy EOD clearance divers from Minedykker Kommandoen (Norwegian Naval EOD Command) completed a 2-week winter warfare training in Hovden, Norway, focused on arctic mobility and survivability.

    The winter warfare course consisted of academic training, gear preparation, cross country, back country, and downhill skiing instruction, ski training with heavy rucksack, cold weather injury treatment and prevention, improvised shelter building, camp set up, proper clothing loadout, avalanche safety training, cold weather demolition, small arms shooting on skis, and freezing water response.

    “The value to the guys was immeasurable. Most of them started off the training without ever having skied and some never having seen snow in their lives. We went from that, to being able to self-sustain for 96 hours in the brutal, non-forgiving Norwegian wilderness in 6 feet of snow, transiting roughly 20 kilometers through the mountains, on back country skis, while wearing 70 lb. rucks,” said Explosive Ordnance Disposal Senior Chief Karl Sowinski, EODMU 8 ExMCM Company senior enlisted leader and lead exercise planner. “The cost of ending up out there alone, without the proper gear and training, is death. Out of all the environments we operate in, the Arctic is the only one that is actively trying to kill you 24/7.”

    The team did a cold-water plunge in a freezing river, where they had to function under extreme stress and cold shock. Surrounded by snow and ice, they fully submerged in the icy water, then worked through their cold response by controlling their breathing and responding to a series of questions to demonstrate mental acuity before exiting the water, donning dry clothing, and rewarming.

    “The critical takeaway of this exercise was the integration and interoperability. During the winter warfare portion, prior to Arctic Specialist, the U.S. EOD operators looked to us for our expertise in Arctic survival techniques. During Arctic Specialist, we [Norwegian EOD] looked to the U.S., Sweden, and Denmark teams for new technology or methods that we may not currently use,” said a platoon commander from Norwegian Naval EOD Command. “When we work with our Allied peers, the most valuable part is the group dynamic and becoming a team. We bond on both a personal level and as a military team, making us stronger for future engagements.”

    Continuing to exercise presence in the high north through training and operations will enhance deterrence by demonstrating combat-credible capabilities and the ability to respond rapidly to threats in the Arctic and elsewhere around the globe.

    U.S. Navy EOD stands ready to protect U.S. interests from explosive threats in the face of new challenges and an evolving security environment.

    CTF-68 commands all naval expeditionary combat forces in the U.S. European Command and U.S. Africa Command areas of responsibility in direct support of U.S. Naval Forces Europe -Africa, and U.S. 6th Fleet.

    U.S. 6th Fleet conducts the full spectrum of joint and naval operations, often in concert with allied, joint, and inter-agency partners, in order to advance U.S. national interests and security and stability in Europe and Africa.

    For additional news about U.S. Navy EOD, visit https://www.dvidshub.net/unit/EODG-2.

    MIL Security OSI –

  • MIL-OSI Canada: Statement from Northern Premiers following their Mission to Washington, D.C.

    Source: Government of Canada regional news

    Premier Pillai has issued the following statement on behalf of the Northern Premiers:

    “Northern Premiers have a unique shared responsibility in shaping Canada’s future. While each territory has its own distinct needs, we are united by common values, shared challenges and a collective vision for a strong and thriving Arctic and North.

    “Northern Premiers were pleased to participate in the Council of the Federation Mission to Washington, D.C., to share that vision with our neighbours in the United States.

    “During meetings with key members of Congress and the Senate, Northern Premiers delivered a clear and unified message: a strong Canada-U.S. partnership is essential to addressing shared priorities. From economic growth to energy security, critical mineral supply chains, border security and immigration, our collaboration is key to navigating these complex challenges. This commitment was further reinforced during a presentation at the Wilson Center, where Premiers highlighted the importance of Arctic Security and the opportunities for alignment and cooperation between Canada and the United States in the Arctic region.

    “Northern Premiers met with officials from Denmark and Greenland to enhance cooperation on key Arctic issues, including security, climate change and potential economic partnership. The high-level discussions aimed to foster stronger diplomatic and economic ties between sub-national governments across the North American Arctic while addressing shared challenges in the region.

    “Premiers highlighted the critical minerals and energy potential in the territories, emphasizing the importance of sustainable development in partnership with Indigenous peoples and in collaboration with their governments.

    “Northern Premiers are committed to Canada’s sovereignty and will continue to prioritize security of the North, which includes Arctic energy and economic security. Northern Premiers will stand together with other Canadian First Ministers to protect and strengthen our economy and our communities – together, as Canadians.”

    MIL OSI Canada News –

  • MIL-OSI: NNIT A/S: NNIT RELEASES ITS ANNUAL REPORT FOR 2024

    Source: GlobeNewswire (MIL-OSI)

    Annual Report 2024

    2024 was the first full year as the new NNIT – an industry focused specialized IT consultancy focusing on Life Sciences internationally and the public and private sectors in Denmark. The Group continued to grow revenue organically and deliver a profit margin in line with the updated outlook for the year.

    2024 key highlights

    • Revenue grew by 7.1% (organic growth of 6.0%) to DKK 1,851 million. Despite facing challenges in various regions, especially in the third quarter, we ultimately achieved growth that surpassed the market overall. A strong fourth quarter, and significant wins in US and Denmark towards the end of the year hold promise of good momentum carried into 2025.
    • NNIT delivered operating result before special items of DKK 117 million in line with the DKK 116 million in 2023 and resulting in a slightly lower operating profit margin before special items of 6.3% for the year which is 0.4% down as a result of lower utilization.
    • Special items amounted to DKK 69 million against DKK 69 million in 2023 and is mainly related to earn-out payments and restructuring cost.

    2025 outlook

    • During 2025, NNIT expects organic growth to gradually improve alongside profitability.
    • The Group expects to generate organic revenue growth of 7-10% through expansion of existing engagements, and partly from the onboarding of new customers.
    • The operating profit margin before special items is expected to increase to 7-9% driven by several factors such as optimization of utilization and billability, recovery of the data migration business, full-year impact of the initiatives carried out during 2024 and continuously exploring further cost optimization opportunities.
    • The outlook is based on assumptions where the macroeconomic environment and geopolitical uncertainty is expected to remain at the same level as in 2024. Exchange rates are expected to remain stable.
    • In 2025, special items are expected to consist of earn-out payments of around DKK 20m with 2025 being the last year of such payments. Restructuring costs will also be a part of special items in 2025, however, the amount is expected to be significantly below the level of 2024.

    Pär Fors, CEO of NNIT, comments:
    “2024 was an eventful year where we reached several strategic milestones in becoming a pure-play IT consultancy company. Despite macroeconomic uncertainty and a moderate market slowdown in Life Sciences towards the second half of the year, we continued to grow our business organically through existing and new customers. Furthermore, we continued to strengthen our position in the Public sector in Denmark, where we won important strategic contracts. As a result, we delivered according to our latest financial outlook.”

    Conference call
    February 19, 2025, at 9:30 AM CET:

    Webcast link

    Dial in information:

    DK: +45 7876 8490
    SE: +46 31-311 5003
    UK: +44 203 769 6819
    US: +1 646-787-0157

    Participant Access code: 472855

    For more information, please contact:

    Investor Relations
    Carsten Ringius
    EVP & CFO
    Tel: +45 3077 8888
    carr@nnit.com

    Media Relations
    Sofie Mand Steffens
    Senior Communications Consultant
    Tel: +45 3077 8337
    smst@nnit.com

    ABOUT NNIT

    NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

    We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

    We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

    We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

    NNIT consists of group company NNIT A/S and the subsidiary SCALES. Together, these companies employ more than 1,700 people in Europe, Asia and USA.

    Attachments

    The MIL Network –

  • MIL-OSI Global: Nat King Cole’s often overlooked role in the Civil Rights Movement

    Source: The Conversation – USA – By Donna M. Cox, Professor of Music, University of Dayton

    Nat King Cole performs in Copenhagen, Denmark, in April 1960. Ebbe Wrae/JP Jazz Archive/Getty Images

    Six decades after Nat King Cole’s death in 1965, his music is still some of the most played in the world, and his celebrity transcends generational and racial divides. His smooth voice, captivating piano skills and enduring charisma earned him international acclaim.

    One of the most influential artists of the 20th century, Cole was not only a groundbreaking musician but also a quiet, yet resolute, advocate for social justice.

    As an African American sacred music scholar, I have been immersed in the inseparable link between music, culture and social change for over 40 years. Examining Cole through the lens of his activism uncovers the nuanced ways in which he challenged the status quo and contributed to the Civil Rights Movement.

    Beneath the polished veneer of his public image lay a deeply personal commitment to confronting racism and advocating for equality that is often overlooked.

    Formative years

    Nathaniel Adams Coles was born on March 17, 1919, in Montgomery, Alabama, to Perlina Adams Coles and Edward James Coles. Perlina served as the organist at the True Light Baptist Church and later the First Baptist Church of North Chicago, both pastored by Nathaniel’s father. She passed her love for music to her children, teaching them to play the piano and organ. Cole’s formative years were spent in church; gospel songs, hymns and spirituals formed the foundation of his musical education.

    Though Cole is primarily remembered for his jazz and pop hits, the emotive power, communal emphasis and uplifting nature of Black sacred music profoundly shaped his artistry throughout his career, despite his single sacred album, “Every Time I Feel The Spirit,” released in 1959. The influence of gospel music, in particular, can be heard in his soulful phrasing and heartfelt delivery, contributing to his remarkable ability to connect with audiences.

    Growing up in Chicago, he was also exposed to a rich tapestry of musical genres, including blues, classical and jazz. This eclectic upbringing laid the foundation for his versatile musical style and commercial success.

    Group portrait of singer Nat King Cole with his mother, Perlina, his younger brother, Ike, and his father, Edward, circa 1940.
    Nat King Cole photograph collection/New York Public Library

    While Cole’s music was not overtly political, his very presence in the mainstream was a statement. In an era of racial segregation, he was a Black man achieving unprecedented success in a predominantly white music industry. His impeccable diction, tailored suits and sophisticated performances countered the prevailing stereotypes of African Americans as uncouth or subservient.

    By embodying a poised and dignified persona, Cole communicated a powerful message: Black excellence and humanity could not be denied. As race scholar George Lipsitz writes in “The Possessive Investment in Whiteness,” “The cultural field … is a site of struggle where meanings are contested and power relations are negotiated.”

    Cole’s success challenged the structural racism that sought to confine Black artists to the margins and opened doors for future generations. He acknowledged the significance of his presence on national television, recognizing it as a potential turning point for Black representation. While hesitant to explicitly label himself an activist, he contemplated the impact of his success on breaking down barriers, believing that “when you’ve got the respect of white and colored, you can ease a lot of things.”

    Confronting racism

    In response to critics who dismiss Cole’s legacy as apolitical, I argue that they overlook the complexity of his resistance. Several scholars have stated that in a society where overt defiance often resulted in violence or economic ruin, Cole’s ability to navigate the entertainment industry while maintaining his dignity was itself a form of activism.

    Though Cole never referred to himself as an activist, he confronted racism in both overt and quiet ways. Scholars such as cultural theorist Stuart Hall and researcher Laura Pottinger define “quiet activism” as modest, everyday acts of resistance – either implicitly or explicitly political – that challenge dominant ideologies and power structures. These acts often entail processes of production or creativity.

    Despite his commercial success, Cole faced relentless systemic and personal racism. In 1948, he purchased a home in the affluent Hancock Park neighborhood of Los Angeles, a move met with hostility; the local homeowners association attempted to expel him, and he endured threats and acts of vandalism.

    Yet Cole refused to be intimidated. His resolve was a courageous act of resistance that highlighted the pervasive inequalities of the time.

    Cole faced blatant discrimination in Las Vegas. He was often denied access to the same hotels and restaurants where he performed, forced to stay in segregated accommodations. One particularly notable incident occurred at the Sands Hotel. in Las Vegas. When the maitre d’ tried to deny service to Cole’s Black bandmates in the dining room, Cole threatened to cancel his performance and leave. This forced the hotel management to back down, setting a precedent for other Black entertainers and patrons.

    Cole quietly sued hotels and negotiated contracts that guaranteed his right to stay in the hotels where he performed, a significant step toward desegregation. He also made it a point to bring his entire entourage, including Black musicians and friends, to these establishments, challenging their “whites only” policies.

    ‘We Are Americans Too’

    Photo of Natalie Cole singing with her father, Nat King Cole, in 1957.
    Michael Ochs Archives/Getty Images

    Cole’s impact extended beyond the realm of music. In 1956, he became the first African American to host a national network television show, “The Nat King Cole Show.” This was a groundbreaking moment, as it brought a Black man into the living rooms of millions of white Americans every week.

    Though the show faced challenges with sponsorship due to racial prejudice, it marked a significant step toward greater representation and acceptance. As historian Donald Bogle notes in his 2001 book “Toms, Coons, Mulattoes, Mammies, and Bucks,” “Television … became a new battleground for the image of the black performer.” Cole’s show, despite its short run, was a crucial battle in this war.

    When Cole was attacked onstage by white supremacists during a concert in Birmingham, Alabama, in 1956, it underscored the physical danger Black public figures faced and galvanized Cole’s commitment to the Civil Rights Movement.

    It is important to note that Cole’s support for the Civil Rights Movement was often quiet and behind the scenes. He faced criticism from some who felt he should have been more outspoken. However, his actions demonstrate his commitment to the cause of racial equality. Cole, who died in 1965 at the height of the Civil Rights Movement, was a member of his local NAACP branch. He also performed at benefit concerts for the organization, raising money to support their efforts in fighting racial discrimination.

    Shortly after the attack in Birmingham, Cole recorded his only song that is specifically political, “We Are Americans Too.” Recorded in 1956, the song was a powerful statement of belonging and a challenge to racial exclusion. Though it would not come close to reaching commercial success, it did serve as a powerful reminder that African Americans were, in fact, Americans. Over a half-century later, this song still resonates and speaks to the ongoing struggle for full inclusion and recognition for marginalized groups.

    The juxtaposition of the refrain “We are Americans too” against the backdrop of the treatment of Black people during the Civil Rights Movement gives this song emotional weight. The very act of having to assert “We are Americans too” highlights the injustice of the situation.

    It underscores the disconnect between the ideals of American democracy and the reality of racial inequality. In this context, the refrain “We are Americans too” is an act of resistance, a challenge to the prevailing social order. It highlights the hypocrisy of a nation founded on principles of liberty while denying those same liberties to a significant portion of its population. It’s a call for America to finally recognize the full humanity and citizenship of its Black citizens.

    ‘We Are Americans Too.’

    Great art, and great artists, are powerful witnesses of the times in which they live, love, work and play. Their commentary, both artistically and humanly, leaves an important record for generations. This is clearly evident in Nat King Cole.

    Donna M. Cox does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Nat King Cole’s often overlooked role in the Civil Rights Movement – https://theconversation.com/nat-king-coles-often-overlooked-role-in-the-civil-rights-movement-248527

    MIL OSI – Global Reports –

  • MIL-OSI Banking: Huawei Europe Bags Prestigious Top Employer 2025 Award for Sixth Consecutive Year Feb 18, 2025

    Source: Huawei

    Headline: Huawei Europe Bags Prestigious Top Employer 2025 Award for Sixth Consecutive Year
    Feb 18, 2025

    [Düsseldorf, Germany, February 18, 2025] Huawei Europe earned recognition as a Top Employer in Europe for the sixth consecutive year in 2025. This prestigious certification covers the following 17 countries: Austria, Belgium, France, Germany, the Czech Republic, Greece, Hungary, Italy, Ireland, the Netherlands, Portugal, Poland, Romania, Spain, Switzerland, Sweden and Turkey.
    Huawei received the Top Employer Europe Award during the Top Employers Institute celebration dinner event

    The recognition is a testament to Huawei Europe’s exemplary human resources practices and underscores its commitment to fostering a culture of innovation, inclusivity, and continuous improvement.
    Lesley White, Vice President of Human Resources, Huawei European Region said: “Europe is home to a diverse and highly skilled talent pool, driving innovation and excellence. Being certified as a Top Employer in Europe is a testament to Huawei’s commitment to fostering a supportive, inclusive, and growth-oriented workplace. This recognition underscores the importance of investing in employee development, well-being and engagement, ensuring that the company not only attracts top talent but also retains and empowers them to thrive in a competitive global landscape.”
    The Top Employers Institute is a globally recognized authority in certifying excellence in employment practices. The certification process involves a comprehensive survey across six core dimensions, with over 250 detailed questions assessing various HR practices. Each topic is evidence-based, ensuring answers are factual and aligned with industry benchmarks, followed by a rigorous audit to guarantee certification accuracy.
    Patrik Rendel, Regional Manager DACH & CEE of Top Employers Institute said: ” On behalf of the Top Employers Institute, we extend our heartfelt congratulations to Huawei for achieving the prestigious Top Employer certification with an impressive score of 91.26%. This remarkable accomplishment reflects commitment to implementing best HR practices. Huawei’s dedication to empowering talent and driving innovation sets a benchmark for excellence in the industry. We are proud to recognize Huawei as a leader in people practices and look forward to your continued success in shaping the future of work. ”
    Lesley White, Vice President of Human Resources, Huawei European Region with Top Employers Institute CEO David Plink

    Huawei is dedicated to driving digital transformation and innovation, connecting the world through cutting-edge ICT technology. With a focus on excellence, we empower individuals to lead, excel, and shape the future of connectivity. Join us in a dynamic, supportive environment where your contributions will be recognized, and your potential can break boundaries, advancing both your career and global progress.
    To learn more visit: https://career.huawei.com/reccampportal/euportal/portal/index.html

    MIL OSI Global Banks –

  • MIL-OSI Banking: Huawei Europe Bags Prestigious Top Employer 2025 Award for Sixth Consecutive Year

    Source: Huawei

    Headline: Huawei Europe Bags Prestigious Top Employer 2025 Award for Sixth Consecutive Year

    [Düsseldorf, Germany, February 18, 2025] Huawei Europe earned recognition as a Top Employer in Europe for the sixth consecutive year in 2025. This prestigious certification covers the following 17 countries: Austria, Belgium, France, Germany, the Czech Republic, Greece, Hungary, Italy, Ireland, the Netherlands, Portugal, Poland, Romania, Spain, Switzerland, Sweden and Turkey.
    Huawei received the Top Employer Europe Award during the Top Employers Institute celebration dinner event

    The recognition is a testament to Huawei Europe’s exemplary human resources practices and underscores its commitment to fostering a culture of innovation, inclusivity, and continuous improvement.
    Lesley White, Vice President of Human Resources, Huawei European Region said: “Europe is home to a diverse and highly skilled talent pool, driving innovation and excellence. Being certified as a Top Employer in Europe is a testament to Huawei’s commitment to fostering a supportive, inclusive, and growth-oriented workplace. This recognition underscores the importance of investing in employee development, well-being and engagement, ensuring that the company not only attracts top talent but also retains and empowers them to thrive in a competitive global landscape.”
    The Top Employers Institute is a globally recognized authority in certifying excellence in employment practices. The certification process involves a comprehensive survey across six core dimensions, with over 250 detailed questions assessing various HR practices. Each topic is evidence-based, ensuring answers are factual and aligned with industry benchmarks, followed by a rigorous audit to guarantee certification accuracy.
    Patrik Rendel, Regional Manager DACH & CEE of Top Employers Institute said: ” On behalf of the Top Employers Institute, we extend our heartfelt congratulations to Huawei for achieving the prestigious Top Employer certification with an impressive score of 91.26%. This remarkable accomplishment reflects commitment to implementing best HR practices. Huawei’s dedication to empowering talent and driving innovation sets a benchmark for excellence in the industry. We are proud to recognize Huawei as a leader in people practices and look forward to your continued success in shaping the future of work. ”
    Lesley White, Vice President of Human Resources, Huawei European Region with Top Employers Institute CEO David Plink

    Huawei is dedicated to driving digital transformation and innovation, connecting the world through cutting-edge ICT technology. With a focus on excellence, we empower individuals to lead, excel, and shape the future of connectivity. Join us in a dynamic, supportive environment where your contributions will be recognized, and your potential can break boundaries, advancing both your career and global progress.
    To learn more visit: https://career.huawei.com/reccampportal/euportal/portal/index.html

    MIL OSI Global Banks –

  • MIL-OSI United Nations: UNECE and UN Road Safety Envoy call for global use of UN helmet standard to save millions of lives 

    Source: United Nations Economic Commission for Europe

    Wearing quality helmets reduces the risk of death for drivers and passengers of powered two- and three-wheelers by over six times and reduces the risk of brain injury by up to 74%.  UN regulation No. 22 has provided countries with the blueprint to legislate the use of tested and certified helmets for over 50 years. Already applied in 43 countries, millions of lives could be saved through the worldwide application of this standard.  

    As governments and stakeholders come together for the 4th Ministerial Conference on Road Safety in Marrakech on 18-20 February, UNECE and the UN Secretary-General’s Special Envoy for Road Safety, Jean Todt, are launching a call for widespread enforcement of UN Regulation 22. 

    “Wearing a helmet that meets the UN standard is a game changer”, stressed UN Secretary-General’s Special Envoy for Road Safety Jean Todt. “Countries must address any remaining legislative gaps to make helmet use compulsory, and ensure that affordable safe helmets are available to all. Together with political will and partnerships like the safe and affordable helmets initiative we have shown this can be done. Now we need action at scale.”  

    “Millions of households around the world depend on two- and three-wheelers, but do not have access to safe and affordable helmets. The human cost caused by this situation, not to mention the huge economic impact of deaths and injuries, is unacceptable. It is the collective responsibility of regulators, governments and manufacturers to ensure that helmets meeting the safety standards of UN certification are available and to convince riders to use them. This is a matter of justice and equity – no one should be left behind when it comes to road safety,” said Tatiana Molcean, UNECE Executive Secretary.    

    Rise in 2-3 wheelers calls for urgent safety action  

    Two- and three-wheeler use has grown rapidly as many low-and -middle-income countries have motorized over the last 20-30 years. Motorcycles comprise nearly 70% of the national vehicle fleet in countries like India, Indonesia, the Philippines and China. However, the lack of a widespread, systematic approach to ensuring safety has led to a huge increase in deaths and injuries.  

    According to the 2023 Global Road Safety report of the World Health Organization, motorcyclists and other powered two- and three-wheeler riders represent 30% – a staggering 357,000 deaths – of the 1.19 million global road traffic deaths every year. This marks a 25% increase in the number of victims since 2013, with head injuries being the main cause of death in most motorcycle crashes. Non-use of helmets among motorcyclists across some 40 countries was reported at 20% for drivers and 30% for passengers. 

    In Malaysia, nearly 65% of road crash victims are motorcycle riders, while in the European Union, which has the lowest death rate compared to any country worldwide at 4.6/100,000, users of powered two-wheelers (motorbikes and mopeds) accounted for only 19% (3,876) of the deaths on the road in 2023. 

    Safe helmets need further enforcement  

    Since the entry into force of UN regulation No. 22, 43 countries have applied it, including:  

    • Belgium in 1972 
    • Netherlands in 1972 
    • Sweden in 1973 
    • Spain in 1976 
    • Italy in 1977 
    • Finland in 1977 
    • Switzerland in 1982 
    • Russian Federation in 1986 
    • New Zealand in 2002 

     

    And most recently in; 

    • Pakistan in 2020 
    • Malaysia, the Philippines and Uganda in 2023 

     

    But with the rapid increase of two- and three-wheeler use, application in many more countries around the world could significantly reduce risks.  

    The Special Envoy’s Safe and Affordable Helmets Initiative 

    The cost of UN-certified helmets can be a barrier to mass use in many countries. In other markets, the proliferation of helmets which do not comply with UN Regulation 22 offers a false sense of protection to riders and passengers, as highlighted in the White Paper of the Global Alliance of NGOs for Road Safety released last week. 

    In order to make safe helmets available to many more road users in developing countries, Special Envoy Jean Todt launched the Safe and Affordable Helmets Initiative in 2020. The Initiative promotes safe helmet use and the development and mass production of UN-certified helmets in developing countries themselves. 

    As a result, producers in India, Indonesia, Spain, and South Korea have already started manufacturing UN-certified helmets for retail at around $20, and more than 40,000 helmets financed by partners of the initiative were distributed in some 17 countries in Africa, Latin America and South-East Asia. In addition, Rwanda, through a project financed by the UN Road Safety Fund, set up a helmet testing facility in December 2024 and align its national standard and certification scheme with UN Regulation N°22. The aim is to build the foundations for a vibrant, scalable helmet manufacturing industry to produce a consistent supply of safe and affordable helmets that would be available across Africa. 

     

    Note to editors 

    UNECE hosts the World Forum for Harmonization for Vehicle Regulations (WP.29), which develops and updates safety regulations, including UN Regulation No. 22. As custodian of the UN road safety conventions, UNECE hosts the Secretariats of both the Special Envoy and UN Road Safety Fund and supports their work. 

    Technical specifications of helmet manufacturing and testing  

    UN Regulation No. 22, under the 1958 Agreement outlines a series of tests that ensure adequate measures for fields of vision, hearing ability, non-flammability, material requirements, moisture absorption, and child helmet provisions. One of the most important requirements that makes UN Regulation No. 22 unique, compared to other standards, is conformity of production (CoP) – the procedure to ensure that helmets produced by a manufacturer, is in conformity with the approved type overtime.  

    The conformity of production procedures; exchange of information among type approval authorities on type approvals granted, counterfeit products and products not meeting the requirements. All this aims to prevent the delivery of fake helmets to the market. Countries involved in the UN system can, thus, rely on each other in the implementation and maintenance of their national legislation based on UN Regulation No. 22. 

    Technological and materials improvement have led to amendments in 1988, 1995, 2000, and in 2021 concerning moisture absorption, scratch resistance, friction limits, and chinstrap strength.  

    The 06 series of amendments of the UN Regulation No. 22, entered into force in 2021, increases the number and types of testing required for certification, including visor coloring and material, testing of extra impact points, and updated procedures for tests introduced previously. UN Regulation No. 22-05 tested helmets in rectilinear impact situations, i.e. perpendicular to the impacted surface. Series 6 adds oblique impacts to its tests, which better reflects real-world impact conditions and better protects the brain from rotational accelerations. 

    MIL OSI United Nations News –

  • MIL-OSI: Sparekassen Kronjylland, number one in customer satisfaction, signs Agillic to raise the bar

    Source: GlobeNewswire (MIL-OSI)

    Press release, Copenhagen, 18 February 2025

    Sparekassen Kronjylland, among Denmark’s ten largest financial institutions, is organised around making a positive difference for the customers with a defined purpose to build life-long relationships and help customers get the best of their finance. As a guarantee savings bank, they aim to leverage the flexibility of not having shareholders to also make a difference in the local communities by supporting associations, clubs, and cultural institutions. 

    Customer satisfaction is the most important metric to Sparekassen Kronjylland and whilst ranking number one within banking in Denmark, they push to constantly improve and deliver ever more relevant information and customer experiences.

    Trine Kastrup Berthelsen, Project Manager at Sparekassen Kronjylland explains: “Our promise to customers is financial security and our advisors work hard to foster trusted relationships by providing the most relevant guidance and advice at any given time. With Agillic, we have a modern platform to complement their effort and one that not only provides immediate impact but also scales long term as we continue to evolve our ambitions for how individualised our information and communication can and should be.”

    Bo Sannung, Chief Solution Officer at Agillic adds: “Agillic’s ability to deliver highly individual customer experiences and personalised communication, and with uncompromising compliance on privacy and security, is critical for financial businesses. Welcoming Sparekassen Kronjylland, already number one in customer satisfaction, is a testament to that and we are proud to help them deliver as they continue to raise the bar on customer relationships.”

    For further information, please contact
    Christian Samsøe, CEO
    +45 24 88 24 24
    christian.samsoe@agillic.com 

    About Agillic A/S
    Agillic A/S (Nasdaq First North Growth Market Copenhagen: AGILC) is a Danish software company offering brands a platform through which they can work with data-driven insights and content to create, automate, and send personalised communication to millions. Agillic is headquartered in Copenhagen, Denmark. For further information, please visit agillic.com.

    The MIL Network –

  • MIL-OSI: Telefónica selects Nokia Packet Core to deliver superior network quality for enterprises in Spain #MWC25

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Telefónica selects Nokia Packet Core to deliver superior network quality for enterprises in Spain #MWC25

    • Nokia Packet Core solutions will support Telefónica in rolling out 4G and 5G low latency services and other use cases to the operator’s enterprise customers.
    • Telefónica will deploy the Nokia cloud-native software solutions on top of its telco cloud and as packet core appliances on enterprise premises.

    18 February 2025
    Espoo, Finland – Telefónica, the top operator in Spain for enterprise customers, has selected Nokia’s Packet Core solution to enhance the scale, capacity, performance, and reliability of its 4G and 5G network for enterprise customers in the country while simplifying its network architecture.

    Nokia Packet Core solutions will support Telefónica in rolling out low-latency services like drone control, robotics and industrial applications, smart metering that enables real-time monitoring and billing for utility consumers, and other use cases to the operator’s enterprise customers.

    Telefónica and Nokia already collaborate on a host of other network technologies, including 5G RAN, XGSPON, IP and Optical transport, network analytics, and network APIs. Telefónica will deploy Nokia Cloud Mobile Gateway and Nokia Mediation on its telco cloud, providing flexibility and operational efficiencies with its multi-vendor and multi-cloud capabilities.

    Nokia Cloud Mobile Gateway will enable Telefonica to more efficiently manage and route user traffic for enterprises, a key operator growth area.

    Erez Sverdlov, Vice President, Cloud and Network Services Market Leader for Europe at Nokia, said: “We are pleased to support Telefónica in strengthening the enterprise customer experience in Spain. Beyond better data capacity, latency, and reliability, our packet core will also provide a local breakout of user traffic with our latest generation appliances, providing reduced latency and improved security.”

    Nokia had the most 5G Standalone Core communication service provider customers, with 123 in total, at the end of 2024.

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale.
    Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube 

    The MIL Network –

  • MIL-OSI: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 9(4) AND (5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    18 February 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order.

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which extends the Offer Period for the Offer. The Supplement has been approved by the Danish FSA on 18 February 2025 in accordance with section 9(4) and section 9(5) of the Danish Takeover Order.

    Under the Offer document, the offer period is set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”).

    With the Supplement, Nykredit extends the Initial Offer Period, such that the Offer will expire on 20 March 2025 at 23:59 (CET). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 March 2025 at 23:59 (the “Extended Offer Period”).

    The purpose of the extension is to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. The process to obtain such approval from the Danish Competition and Consumer Authority is proceeding as planned.

    If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the Extended Offer Period further.

    The extension of the Initial Offer Period entails that the expected completion of the Offer and settlement of the Offer Price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 March 2025.

    At the time of this announcement, Nykredit holds 32.44 per cent of the shares in Spar Nord Bank, and on 4 February 2025 Nykredit released an announcement to the effect that a preliminary compilation of the acceptances that Nykredit is aware of indicates that the 67 per cent acceptance limit of the Offer has been achieved. The final result of the Offer will be determined on expiry of the Offer Period and published in accordance with section 21(3) of the Danish Takeover Order.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9 B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with Supplement) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with Supplement) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining announcement, the Supplement, the Offer Document, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to Shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

    1 Executive Order no. 636 of 15 May 2020

    Attachment

    The MIL Network –

  • MIL-OSI: Correction: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 9(4) AND (5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    18 February 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order.

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which extends the Offer Period for the Offer. The Supplement has been approved by the Danish FSA on 18 February 2025 in accordance with section 9(4) and section 9(5) of the Danish Takeover Order.

    Under the Offer document, the offer period is set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”).

    With the Supplement, Nykredit extends the Initial Offer Period, such that the Offer will expire on 20 March 2025 at 23:59 (CET). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 March 2025 at 23:59 (the “Extended Offer Period”).

    The purpose of the extension is to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. The process to obtain such approval from the Danish Competition and Consumer Authority is proceeding as planned.

    If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the Extended Offer Period further.

    The extension of the Initial Offer Period entails that the expected completion of the Offer and settlement of the Offer Price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 March 2025.

    At the time of this announcement, Nykredit holds 32.44 per cent of the shares in Spar Nord Bank, and on 4 February 2025 Nykredit released an announcement to the effect that a preliminary compilation of the acceptances that Nykredit is aware of indicates that the 67 per cent acceptance limit of the Offer has been achieved. The final result of the Offer will be determined on expiry of the Offer Period and published in accordance with section 21(3) of the Danish Takeover Order.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9 B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with Supplement) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with Supplement) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining announcement, the Supplement, the Offer Document, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to Shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

    1 Executive Order no. 636 of 15 May 2020

    Attachments

    The MIL Network –

  • MIL-OSI: CoinShares Announces Q4 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    18thFebruary 2024 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a leading global investment company specialising in digital assets, has today published its results for the quarter ending 31st December 2024.  

    Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

    “Q4 2024 was arguably the most transformative quarter in digital asset history, marked by groundbreaking policy shifts. It was also one of CoinShares’ strongest quarters since inception, with EBITDA reaching £33.6 million (£109.8 million year-to-date), a 37% increase from Q4 2023 and 116% year-on-year growth.

    Over the past three years, we have systematically built a strong foundation, establishing leading platforms in both Europe and the United States. With our infrastructure in place and market position stronger than ever, we are uniquely poised to seize this pivotal moment in digital assets.”

    Q4 2024 financial highlights

    • Q4 revenue, gains and other income of £48.3 million (Q4 2023: £31.6 million)
    • Q4 adjusted EBITDA of £33.6 million (Q4 2023: £24.5 million)
    • Total comprehensive income for Q4 2024 of £46.7 million (Q4 2023: £15.8 million)

    Full Year 2024 financial highlights

    • 2024 revenue, gains and other income of £126.8 million (2023: £76.3 million)
    • 2024 adjusted EBITDA of £109.8 million (2023: £50.9 million)
    • Total comprehensive income for 2024 of £107.5 million (2023: £38.4 million)

    Q4 2024 operational highlights

    • CoinShares’ Asset Management division achieved its strongest quarter to date, with the Physical platform seeing notable growth in Q4. Our Physical Staked Ethereum ETP led inflows with $75 million, while our Physical XRP ETP attracted $31 million in new investments. The CoinShares Physical platform’s total assets increased by 54% to $2.3 billion, with our Physical Bitcoin ETP becoming Europe’s largest. Despite outflows in our XBT platform, strong crypto price appreciation drove AuM up by 30% to $3.74 billion. In the U.S., our CoinShares-Valkyrie business line saw positive net flows of $19 million, led by WGMI with $52 million in inflows, amidst a broader U.S. market that saw $16 billion flow into crypto spot, futures, and equity ETPs. The Asset Management division generated £25.3 million in revenue for the quarter and £87.1 million in revenue for the full year 2024.
    • The Capital Markets and Hedge Fund Solutions division demonstrated robust performance across all business lines in Q4. Our trading team capitalized on market volatility, while liquidity provisioning saw materially higher flows than previous quarters. The lending book remained stable with a focus on credit quality, and staking activities generated consistent yields between 3-3.5%. Together with gains from our Bitcoin treasury position, the division delivered £21.2 million in Q4, bringing the full year 2024 revenue to £57.4 million.

    The performance for Q4 marks one of the Group’s strongest quarter ever and has contributed to 2024 being the second strongest year in the Group’s history after 2021. Full details of the Q4 results, inclusive of financial information on each of the Group’s business units, are included within the full report, available here.

    Proposed Dividend

    The Board of the Company today announces that, subject to finalisation of the Group audit, it has resolved to declare and pay in four equal instalments an annual dividend in relation to the financial year ending 31 December 2024 amounting to £20,000,000, to be paid from the Group’s reserves.

    The annual dividend payment will be made in four quarterly instalments via the Euroclear Sweden settlement system, subject to an assessment by the Board of the financial health and cash requirements of the Group prior to each payment being made. 

    ENDS 

    Download the Swedish Executive Summary here.

    The Annual Report for the Group, inclusive of full audited financials is due to be released on 30th April 2025. 

    ABOUT COINSHARES

    CoinShares is a leading global investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

    For more information on CoinShares, please visit: https://coinshares.com
    Company | +44 (0)1534 513 100 | enquiries@coinshares.com
    Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

    This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out below, at 7:00 am CET on 18th February 2025.

    PRESS CONTACT

    CoinShares
    Benoît Pellevoizin
    bpellevoizin@coinshares.com

    M Group Strategic Communications
    Peter Padovano
    press@coinshares.com

    Attachment

    The MIL Network –

  • MIL-Evening Report: Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating

    Source: The Conversation (Au and NZ) – By Matt Fitzpatrick, Professor in International History, Flinders University

    (From left to right): Neville Chamberlain, Édouard Daladier, Adolf Hitler, Benito Mussolini, and Italian Foreign Minister Galeazzo Ciano before signing the Munich Agreement, which gave the Sudetenland to Germany. German Federal Archives/Wikimedia Commons

    Ukraine has not been invited to a key meeting between American and Russian officials in Saudi Arabia this week to decide what peace in the country might look like.

    Ukrainian President Volodymyr Zelensky said Ukraine will “never accept” any decisions in talks without its participation to end Russia’s three-year war in the country.

    A decision to negotiate the sovereignty of Ukrainians without them – as well as US President Donald Trump’s blatantly extortionate attempt to claim half of Ukraine’s rare mineral wealth as the price for ongoing US support – reveals a lot about how Trump sees Ukraine and Europe.

    But this is not the first time large powers have colluded to negotiate new borders or spheres of influence without the input of the people who live there.

    Such high-handed power politics rarely ends well for those affected, as these seven historical examples show.

    1. The Scramble for Africa

    In the winter of 1884–85, German leader Otto von Bismarck invited the powers of Europe to Berlin for a conference to formalise the division of the entire African continent among them. Not a single African was present at the conference that would come to be known as “The Scramble for Africa”.

    Among other things, the conference led to the creation of the Congo Free State under Belgian control, the site of colonial atrocities that killed millions.

    Germany also established the colony of German South West Africa (present-day Namibia), where the first genocide of the 20th century was later perpetrated against its colonised peoples.

    How the boundaries of Africa changed after the Berlin conference.
    Wikimedia Commons/Somebody500

    2. The Tripartite Convention

    It wasn’t just Africa that was divided up this way. In 1899, Germany and the United States held a conference and forced an agreement on the Samoans to split their islands between the two powers.

    This was despite the Samoans expressing a desire for either self-rule or a confederation of Pacific states with Hawai’i.

    As “compensation” for missing out in Samoa, Britain received uncontested primacy over Tonga.

    German Samoa came under the rule of New Zealand after the first world war and remained a territory until 1962. American Samoa (in addition to several other Pacific islands) remain US territories to this day.

    3. The Sykes-Picot Agreement

    As the first world war was well under way, British and French representatives sat down to agree how they’d divide up the Ottoman Empire after it was over. As an enemy power, the Ottomans were not invited to the talks.

    Together, England’s Mark Sykes and France’s François Georges-Picot redrew the Middle East’s borders in line with their nations’ interests.

    The Sykes-Picot Agreement ran counter to commitments made in a series of letters known as the Hussein-McMahon correspondence. In these letters, Britain promised to support Arab independence from Turkish rule.



    Read more:
    What was the Sykes-Picot agreement, and why does it still affect the Middle East today?

    The Sykes-Picot Agreement also ran counter to promises Britain made in the Balfour Declaration to back Zionists who wanted to build a new Jewish homeland in Ottoman Palestine.

    The agreement became the wellspring of decades of conflict and colonial misrule in the Middle East, the consequences of which continue to be felt today.

    Map showing the areas of control and influence in the Middle East agreed upon between the British and French.
    The National Archives (UK)/Wikimedia Commons

    4. The Munich Agreement

    In September 1938, British Prime Minister Neville Chamberlain and French Prime Minister Édouard Daladier met with Italy’s fascist dictator, Benito Mussolini, and Germany’s Adolf Hitler to sign what became known as the Munich Agreement.

    The leaders sought to prevent the spread of war throughout Europe after Hitler’s Nazis had fomented an uprising and began attacking the German-speaking areas of Czechoslovakia known as the Sudetenland. They did this under the pretext of protecting German minorities. No Czechoslovakians were invited to the meeting.

    The meeting is still seen by many as the “Munich Betrayal” – a classic example of a failed appeasement of a belligerent power in the false hope of staving off war.

    5. The Évian Conference

    In 1938, 32 countries met in Évian-les-Bains, France, to decide how to deal with Jewish refugees fleeing persecution in Nazi Germany.

    Before the conference started, Britain and the US had agreed not to put pressure on one another to lift the quota of Jews they would accept in either the US or British Palestine.

    While Golda Meir (the future Israeli leader) attended the conference as an observer, neither she nor any other representatives of the Jewish people were permitted to take part in the negotiations.

    The attendees largely failed to come to an agreement on accepting Jewish refugees, with the exception of the Dominican Republic. And most Jews in Germany were unable to leave before Nazism reached its genocidal nadir in the Holocaust.

    6. The Molotov-Ribbentrop Pact

    As Hitler planned his invasion of Eastern Europe, it became clear his major stumbling block was the Soviet Union. His answer was to sign a disingenuous non-aggression treaty with the USSR.

    Joseph Stalin and Joachim von Ribbentrop after the signing of the Molotov-Ribbentrop Pact.
    German Federal Archives/Wikimedia Commons

    The treaty, named after Vyacheslav Molotov and Joachim von Ribbentrop (the Soviet and German foreign ministers), ensured the Soviet Union would not respond when Hitler invaded Poland. It also carved up Europe into Nazi and Soviet spheres. This allowed the Soviets to expand into Romania and the Baltic states, attack Finland and take its own share of Polish territory.

    Unsurprisingly, some in Eastern Europe view the current US-Russia talks over Ukraine’s future as a revival of this kind of secret diplomacy that divided the smaller nations of Europe between large powers in the second world war.

    7. The Yalta Conference

    With the defeat of Nazi Germany imminent, British Prime Minister Winston Churchill, Soviet dictator Josef Stalin and US President Franklin D Roosevelt met in 1945 to decide the fate of postwar Europe. This meeting came to be known as the Yalta Conference.

    Alongside the Potsdam Conference several months later, Yalta created the political architecture that would lead to the Cold War division of Europe.

    At Yalta, the “big three” decided on the division of Germany, while Stalin was also offered a sphere of interest in Eastern Europe.

    This took the form of a series of politically controlled buffer states in Eastern Europe, a model some believe Putin is aiming to emulate today in eastern and southeastern Europe.

    Matt Fitzpatrick receives funding from the Australian Research Council. He is affiliated with the History Council of South Australia.

    – ref. Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating – https://theconversation.com/ukraine-isnt-invited-to-its-own-peace-talks-history-is-full-of-such-examples-and-the-results-are-devastating-250049

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating

    Source: The Conversation – Global Perspectives – By Matt Fitzpatrick, Professor in International History, Flinders University

    (From left to right): Neville Chamberlain, Édouard Daladier, Adolf Hitler, Benito Mussolini, and Italian Foreign Minister Galeazzo Ciano before signing the Munich Agreement, which gave the Sudetenland to Germany. German Federal Archives/Wikimedia Commons

    Ukraine has not been invited to a key meeting between American and Russian officials in Saudi Arabia this week to decide what peace in the country might look like.

    Ukrainian President Volodymyr Zelensky said Ukraine will “never accept” any decisions in talks without its participation to end Russia’s three-year war in the country.

    A decision to negotiate the sovereignty of Ukrainians without them – as well as US President Donald Trump’s blatantly extortionate attempt to claim half of Ukraine’s rare mineral wealth as the price for ongoing US support – reveals a lot about how Trump sees Ukraine and Europe.

    But this is not the first time large powers have colluded to negotiate new borders or spheres of influence without the input of the people who live there.

    Such high-handed power politics rarely ends well for those affected, as these seven historical examples show.

    1. The Scramble for Africa

    In the winter of 1884–85, German leader Otto von Bismarck invited the powers of Europe to Berlin for a conference to formalise the division of the entire African continent among them. Not a single African was present at the conference that would come to be known as “The Scramble for Africa”.

    Among other things, the conference led to the creation of the Congo Free State under Belgian control, the site of colonial atrocities that killed millions.

    Germany also established the colony of German South West Africa (present-day Namibia), where the first genocide of the 20th century was later perpetrated against its colonised peoples.

    How the boundaries of Africa changed after the Berlin conference.
    Wikimedia Commons/Somebody500

    2. The Tripartite Convention

    It wasn’t just Africa that was divided up this way. In 1899, Germany and the United States held a conference and forced an agreement on the Samoans to split their islands between the two powers.

    This was despite the Samoans expressing a desire for either self-rule or a confederation of Pacific states with Hawai’i.

    As “compensation” for missing out in Samoa, Britain received uncontested primacy over Tonga.

    German Samoa came under the rule of New Zealand after the first world war and remained a territory until 1962. American Samoa (in addition to several other Pacific islands) remain US territories to this day.

    3. The Sykes-Picot Agreement

    As the first world war was well under way, British and French representatives sat down to agree how they’d divide up the Ottoman Empire after it was over. As an enemy power, the Ottomans were not invited to the talks.

    Together, England’s Mark Sykes and France’s François Georges-Picot redrew the Middle East’s borders in line with their nations’ interests.

    The Sykes-Picot Agreement ran counter to commitments made in a series of letters known as the Hussein-McMahon correspondence. In these letters, Britain promised to support Arab independence from Turkish rule.



    Read more:
    What was the Sykes-Picot agreement, and why does it still affect the Middle East today?

    The Sykes-Picot Agreement also ran counter to promises Britain made in the Balfour Declaration to back Zionists who wanted to build a new Jewish homeland in Ottoman Palestine.

    The agreement became the wellspring of decades of conflict and colonial misrule in the Middle East, the consequences of which continue to be felt today.

    Map showing the areas of control and influence in the Middle East agreed upon between the British and French.
    The National Archives (UK)/Wikimedia Commons

    4. The Munich Agreement

    In September 1938, British Prime Minister Neville Chamberlain and French Prime Minister Édouard Daladier met with Italy’s fascist dictator, Benito Mussolini, and Germany’s Adolf Hitler to sign what became known as the Munich Agreement.

    The leaders sought to prevent the spread of war throughout Europe after Hitler’s Nazis had fomented an uprising and began attacking the German-speaking areas of Czechoslovakia known as the Sudetenland. They did this under the pretext of protecting German minorities. No Czechoslovakians were invited to the meeting.

    The meeting is still seen by many as the “Munich Betrayal” – a classic example of a failed appeasement of a belligerent power in the false hope of staving off war.

    5. The Évian Conference

    In 1938, 32 countries met in Évian-les-Bains, France, to decide how to deal with Jewish refugees fleeing persecution in Nazi Germany.

    Before the conference started, Britain and the US had agreed not to put pressure on one another to lift the quota of Jews they would accept in either the US or British Palestine.

    While Golda Meir (the future Israeli leader) attended the conference as an observer, neither she nor any other representatives of the Jewish people were permitted to take part in the negotiations.

    The attendees largely failed to come to an agreement on accepting Jewish refugees, with the exception of the Dominican Republic. And most Jews in Germany were unable to leave before Nazism reached its genocidal nadir in the Holocaust.

    6. The Molotov-Ribbentrop Pact

    As Hitler planned his invasion of Eastern Europe, it became clear his major stumbling block was the Soviet Union. His answer was to sign a disingenuous non-aggression treaty with the USSR.

    Joseph Stalin and Joachim von Ribbentrop after the signing of the Molotov-Ribbentrop Pact.
    German Federal Archives/Wikimedia Commons

    The treaty, named after Vyacheslav Molotov and Joachim von Ribbentrop (the Soviet and German foreign ministers), ensured the Soviet Union would not respond when Hitler invaded Poland. It also carved up Europe into Nazi and Soviet spheres. This allowed the Soviets to expand into Romania and the Baltic states, attack Finland and take its own share of Polish territory.

    Unsurprisingly, some in Eastern Europe view the current US-Russia talks over Ukraine’s future as a revival of this kind of secret diplomacy that divided the smaller nations of Europe between large powers in the second world war.

    7. The Yalta Conference

    With the defeat of Nazi Germany imminent, British Prime Minister Winston Churchill, Soviet dictator Josef Stalin and US President Franklin D Roosevelt met in 1945 to decide the fate of postwar Europe. This meeting came to be known as the Yalta Conference.

    Alongside the Potsdam Conference several months later, Yalta created the political architecture that would lead to the Cold War division of Europe.

    At Yalta, the “big three” decided on the division of Germany, while Stalin was also offered a sphere of interest in Eastern Europe.

    This took the form of a series of politically controlled buffer states in Eastern Europe, a model some believe Putin is aiming to emulate today in eastern and southeastern Europe.

    Matt Fitzpatrick receives funding from the Australian Research Council. He is affiliated with the History Council of South Australia.

    – ref. Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating – https://theconversation.com/ukraine-isnt-invited-to-its-own-peace-talks-history-is-full-of-such-examples-and-the-results-are-devastating-250049

    MIL OSI – Global Reports –

  • MIL-OSI China: US, Europe face widening rift over Ukraine crisis

    Source: China State Council Information Office

    As the situation in Ukraine continues to evolve, the United States and its European allies have demonstrated increasing divisions regarding resolving the Ukraine crisis, a rift that became particularly pronounced at the just-concluded 61st Munich Security Conference (MSC).

    Keith Kellogg, Ukraine envoy of U.S. President Donald Trump, told a conference event in Munich on Saturday that Europe would not have a seat at the negotiation table. “I think this is not going to happen,” he said, although he confirmed that Ukraine would be involved.

    Trump held a phone call with Russian President Vladimir Putin on Wednesday, during which they discussed immediately engaging in direct negotiations aimed at ending the three-year-long conflict between Russia and Ukraine.

    Speaking to reporters afterward, Trump suggested he might meet Putin in Saudi Arabia.

    The unexpected call caught European leaders off guard, sparking concerns that the United States could reach a deal with Russia that would compromise European security without their involvement.

    In response, top foreign affairs officials from major European countries, including Germany, France and Poland, issued a joint statement, stressing that both Ukraine and Europe must be part of “any negotiation” regarding the Ukraine issue.

    Also attending the MSC, Ukrainian President Volodymyr Zelensky cautioned on Saturday that the era of guaranteed American support for Europe is over, indicating that remarks made by U.S. Vice President J.D. Vance a day before signaled a shift in U.S.-Europe relations.

    Vance had criticized Europe’s approach to democracy and immigration in Munich, stating that the greatest threat to the continent came from within. His comments provoked a strong backlash from European leaders.

    Zelensky also urged Europe to unite to create a joint military force and a coordinated foreign policy strategy.

    Fearing being sidelined on the Ukraine issue, EU leaders have urged unity and action across the continent. “This is an existential moment, and it’s a moment where Europe has to stand up,” said German Foreign Minister Annalena Baerbock during a panel discussion.

    French President Emmanuel Macron has scheduled an emergency meeting in Paris on Monday to discuss Ukraine and security in Europe. The meeting is expected to include leaders from Germany, Britain, Italy, Poland, Spain, the Netherlands and Denmark, as well as the NATO secretary-general and the presidents of the European Council and the European Commission.

    Polish Foreign Minister Radoslaw Sikorski said Saturday at the conference that he expects the meeting to address the challenges posed by Trump.

    On Sunday, British Prime Minister Keir Starmer said he is “ready and willing” to deploy British troops to Ukraine to help guarantee its security.

    Writing in the Daily Telegraph, Starmer said Britain was “ready to play a leading role” in Ukraine’s defense and security, including the commitment of 3 billion pounds (about 3.8 billion U.S. dollars) a year until 2030. 

    MIL OSI China News –

  • MIL-OSI United Nations: Use Upcoming Tenth Anniversary of Minsk Accord’s Signing to Renew Diplomatic Efforts towards De-escalation in Ukraine, Assistant Secretary-General Urges Security Council

    Source: United Nations MIL OSI b

    The Minsk Agreements show that the signing of a peace pact alone does not ensure a durable end to conflict, the Security Council heard today as it met a decade after the adoption of Council resolution 2202 (2015), which called for the full implementation of those accords.

    The international community must use the 10-year anniversary as an opportunity to “recall past diplomatic efforts towards de-escalation” as well as reflect “on what happens when peacemaking fails”, Miroslav Jenča, Assistant Secretary-General for Europe, Central Asia and Americas in the Departments of Political and Peacebuilding Affairs and Peace Operations, said.  He noted that in one week, it will be “three tragic years” since the Russian Federation’s full-scale invasion of Ukraine.

    Highlighting the crucial role of regional and subregional organizations, he praised the Organization for Security and Cooperation in Europe (OSCE) Special Monitoring Mission for monitoring ceasefire violations and helping to maintain dialogue for “eight difficult years”.  Any peaceful settlement must respect the sovereignty, independence and territorial integrity of Ukraine, he said, welcoming all initiatives with the full participation of Ukraine and the Russian Federation.  Ensuring the conflict does not reoccur or escalate requires genuine political will and understanding of its “multidimensional complexity”, he said.

    Peace Activist Haunted by Dead Ukrainian, Russian Soldiers, Says War Could Have Been Avoided through Diplomacy

    “The people of Ukraine are divided – they are either pro- or anti-Russian,” stated Roger Waters, civil peace activist, who also addressed the Council today.  To those questioning his credentials, he said:  “I’m here to talk about war and peace and love, and my credentials are firmly in place.” “Hundreds of thousands of dead Ukrainian and Russian soldiers […] are in this room with us today [and] they haunt me,” he said. 

    Recalling the Maidan protests in Kyiv, he stressed that this is one of the problems with regime change — “dead bodies, they are somebody’s loved one”. Immediately after the Government change in 2014, Crimea seceded from Ukraine and joined the Russian Federation. “Did it secede or was it annexed?” he asked, pointing to a referendum held at the time, in which 95 per cent of Ukrainians in Crimea voted to secede. 

    The agreements — Minsk I, signed in September 2014, and Minsk II, in February 2015 — outlined steps for ending the conflict in eastern Ukraine through a political settlement.  The latter accord stipulated a ceasefire in certain areas of the Donetsk and Luhansk regions and the withdrawal of military equipment by both sides.  It also included a commitment by Kyiv to organize local elections and grant special status to the separatist-held areas in eastern Ukraine and the reinstatement of Ukraine’s full control over its border.

    Mr. Waters said that despite campaigning on the promise to resume Minsk II, Ukraine President Volodymyr Zelenskyy, who came to power in 2019, did not do so, and in 2022, Russian troops crossed the border to Ukraine. This war could have been avoided through diplomacy, he insisted, adding that President Zelenskyy had started talking to Russian President Vladimir Putin and by the end of April 2014, a ceasefire agreement had been agreed upon in Istanbul.  The war could have been a stillborn, but then United Kingdom Prime Minister Boris Johnson arrived in Kyiv with the message that the war should be continued as it “suits the Americans” — “the longer it takes, the better”. 

    Citing the telephone talks between United States President Donald Trump and President Putin as a potential move in the right direction, he concluded:  “Maybe there is a glimmer of light at the end of this dark tunnel of war — it comes three years and hundreds of thousands of priceless lives too late, but maybe it’s a start.”

    United States Committed to Ending Carnage, Restoring Europe’s Stability, its Speaker Says 

    Washington, D.C., is committed to ending the carnage and restoring Europe’s stability, the representative of the United States said, adding:  “We want a sovereign and prosperous Ukraine but we must start by recognizing that returning to Ukraine’s pre-2014 borders is an unrealistic objective.”  Further, he added:  “Chasing this illusionary goal will only prolong the war and cause more suffering.” At the same time, he underscored that the Russian Federation has consistently undermined the Minsk Agreement; therefore, a durable peace for Ukraine must include robust security guarantees to ensure the war will not begin again.  Describing Moscow’s illegal war of conquest as “a strategic error”, he said that “the easy way out is through negotiations”.  If Moscow, instead, “chooses the hard way”, it will incur greater and escalating costs to its economy and losses on the battlefield, he warned. 

    New United States Administration Has Created Space for Diplomacy, Russian Federation’s Representative Says 

    For his part, the Russian Federation’s delegate said that “the entry into office of the Republican United States Administration” has created space for the emergence of diplomacy.  Those who seized power in Ukraine, following the 2014 anti-constitutional coup, had no intention of implementing the Minsk Agreements, he said.  Citing statements by various Ukrainian officials who described the Agreements as “a noose on the neck” and “not binding in nature”, he said the Agreements were “a smokescreen” for Western countries while they provided Ukraine armaments. 

    Outlining lessons to draw from the failure of the Minsk process, he said European Union countries and the United Kingdom are “unfaithful to their word and they cannot be a party to any future agreement”.  Also stressing the need to provide autonomy to the east of Ukraine and guarantees for its Russian language population, he said that President Zelenskyy “is deathly afraid of elections and is doing everything possible to drag them out”.  A future Ukraine needs to be “a demilitarized neutral State, not a part of any blocs or alliances,” he said, adding that it was the prospect of the entry of Ukraine into the North Atlantic Treaty Organization (NATO) that triggered the crisis.

    Entire History of Minsk Agreement “Long List of Violations’ by Moscow”, Ukraine’s Delegate Says

    However, Ukraine’s delegate countered that the entire history of the Minsk Agreements “was a long list of violations” by Moscow.  In 2022, “on this very day”, “in this very chamber”, when her country expressed concern about the buildup of troops along its border and other developments, the Russian Federation had underscored that there is no alternative to the Minsk Agreements, she recalled.  Four days later, that country recognized the so-called independence of the Donetsk and Luhansk regions of Ukraine.  Among others, it never implemented paragraph 4 of the Minsk Protocol, concerning the establishment of a security area in the border regions of the two countries, she said.

     “It is because people of Ukraine are pro-Ukrainian [that] the Russian Federation has failed,” she added.  Any future arrangement involving the Kremlin must include enforcement mechanisms and preventive measures, she stressed, adding:  “What responsible States see as commitments to be upheld, the Russian Federation treats as a tactical ploy.”  Ukraine is working with its partners to find strong solutions, she said, stressing:  “Weak agreements will not bring real peace; they will only lead to the greater war.” 

    Other Council Members Weigh In

    Denmark’s delegate described the current meeting as “part of an ongoing disinformation campaign” to try and distract the international community from the subjugation of Ukraine.  Welcoming Ukraine’s ratification of the Rome Statute, she expressed support for a special tribunal to investigate crimes conducted in that country.  While “no one wants this war to end more than Ukraine”, the United Kingdom’s delegate said, President Putin’s preconditions for talks have been that Ukraine withdraws from large swathes of its own sovereign territory and abandons its right to choose its alliances.  “No country could accept this,” she said, reaffirming that London will provide concrete support for Ukraine for as long as needed. 

    “The Minsk Agreements were a diplomatic initiative designed to prevent further bloodshed and establish a political pathway to peace in Ukraine,” said Germany’s representative, adding that Moscow obstructed its implementation and chose to pursue expansionist conquest.  “This war should not have been started in the first place,” she stressed, calling on all States to unite behind the draft General Assembly resolution on advancing peace in Ukraine.  Along similar lines, France’s delegate highlighted the tireless mediation by Paris and Berlin, to enable Ukraine and Russian Federation to find common ground. However, Moscow chose war, he said, while Greece’s delegate stressed that “no interpretation of the Minsk Agreements can ever justify the invasion of Ukraine”.

    “We need something more than Minsk III,” Slovenia’s delegate said, adding that the abstract nature of the Agreements allowed for multiple interpretations.  Any future accord must be much be more specific with clear timelines, defined sequencing and a monitoring mechanism, he stressed.  Similarly, Somalia’s delegate underscored the importance of clarity, particularly in diplomatic tools, and said the implementation of ceasefire provisions requires robust and impartial verifying mechanisms.  The Republic of Korea’s delegate stressed that “the entire world is well aware of who is aggressor and who is the victim,” also adding that the Democratic People’s Republic of Korea’s support of the Russian Federation, with troops and munitions, is a grave violation of the Organization’s resolutions. 

    Several speakers expressed concern about the failure of diplomacy, while others called on the international community to rally behind new diplomatic efforts.  Since the onset of the Ukraine crisis, Beijing has been calling for a political solution through dialogue and has been actively engaged in diplomatic mediations, China’s representative, Council President for the month, said in his national capacity.  The legitimate security concerns of all countries should be taken seriously, he said, welcoming the Washington, D.C.-Moscow agreement to start peace talks. 

    “We have been consistent in our calls for restraint,” said Pakistan’s delegate, as he expressed regret that the Minsk Agreement could not reach just and lasting peace in the region.  “We must learn from the past so we do not commit the same errors,” Panama’s delegate added, stressing that dialogue and diplomacy is the only path to peace. 

    “The failed implementation of the Minsk Agreement cannot be the reason to prolong this war,” said Guyana’s delegate, reiterating calls for an end to the hostilities and for the withdrawal of Russian Federation’s forces from Ukraine’s territory.  “Until this day more and more civilians are losing their lives, including women and children,” pointed out Algeria’s representative, while Sierra Leone’s delegate underscored that “the conflict in Ukraine will not be resolved by military means”.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Secretary-General Appoints Jens Wandel of Denmark Special Adviser to Secretary-General on Reforms

    Source: United Nations General Assembly and Security Council

    United Nations Secretary-General António Guterres announced today the appointment of Jens Wandel of Denmark as Special Adviser to the Secretary-General on Reforms.  He was previously appointed to this function from 2018 to 2020 during the implementation phase of the reforms. 

    The Secretary-General has tasked Special Adviser Wandel with delivering an internal review of the progress made and remaining gaps implementing the reforms.  Working within and across all three reform streams (Sustainable Development, Peace & Security and Management), the Special Adviser will work to deepen the impact of the three reforms, including by recommendations to the Secretary-General for the key departments, the United Nations Sustainable Development Group, and the United Nations High-level Committee on Management. 

    Mr. Wandel has had a distinguished service within the United Nations.  He served as the United Nations Office for Project Services (UNOPS) Executive Director (ad interim), the Secretary-General’s Designate for the COVID-19 Response and Recovery Fund, and the United Nations Development Programme (UNDP) Assistant Administrator, Director of the Bureau of Management.  He also held various positions at the country level, including as Resident Coordinator and UNDP Resident Representative in Turkmenistan and other UNDP positions in Kyrgyzstan and Viet Nam.  He brings a wide range of experience across operational, programmatic and policy matters, which is critical for implementing the key outstanding elements of the reforms. 

    Mr. Wandel holds a Master of Arts equivalent in political science (development and public management) from the University of Aarhus, Denmark.  He is fluent in English and Danish.

    __________

    * This supersedes Press Release SG/A/1821-BIO/5111 of 31 July 2018.

    MIL OSI United Nations News –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 17.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    17 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 17.02.2025

    Espoo, Finland – On 17 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,247,001 4.80
    CEUX – –
    BATE – –
    AQEU – –
    TQEX – –
    Total 1,247,001 4.80

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 17 February 2025 was EUR 5,987,974. After the disclosed transactions, Nokia Corporation holds 250,456,659 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI United Nations: Mr. Jens Wandel of Denmark – Special Adviser to the Secretary-General on Reforms

    Source: United Nations MIL-OSI 2

    nited Nations Secretary-General António Guterres announced today the appointment of Jens Wandel of Denmark as Special Adviser to the Secretary-General on Reforms.  He was previously appointed to this function from 2018 to 2020 during the implementation phase of the reforms. 

    The Secretary-General has tasked Special Adviser Wandel with delivering an internal review of the progress made and remaining gaps implementing the reforms.  Working within and across all three reform streams (Sustainable Development, Peace & Security and Management), the Special Adviser will work to deepen the impact of the three reforms, including by recommendations to the Secretary-General for the key departments, the United Nations Sustainable Development Group, and the United Nations High-level Committee on Management.

    Mr. Wandel has had a distinguished service within the United Nations.  He served as the United Nations Office for Project Services (UNOPS) Executive Director (ad interim), the Secretary-General’s Designate for the COVID-19 Response and Recovery Fund, and the United Nations Development Programme (UNDP) Assistant Administrator, Director of the Bureau of Management.  He also held various positions at the country level, including as Resident Coordinator and UNDP Resident Representative in Turkmenistan and other UNDP positions in Kyrgyzstan and Viet Nam.  He brings a wide range of experience across operational, programmatic and policy matters, which is critical for implementing the key outstanding elements of the reforms.

    Mr. Wandel holds a Master of Arts equivalent in political science (development and public management) from the University of Aarhus, Denmark.  He is fluent in English and Danish.

    MIL OSI United Nations News –

  • MIL-OSI: Ress Life Investments A/S publishes Net Asset Value (NAV).

    Source: GlobeNewswire (MIL-OSI)

    Ress Life Investments
    Nybrogade 12
    DK-1203 Copenhagen K
    Denmark
    CVR nr. 33593163
    www.resslifeinvestments.com

    To: Nasdaq Copenhagen
    Date: 17 February 2025

    Corporate Announcement 06/2025

    Ress Life Investments A/S publishes Net Asset Value (NAV).

    Ress Life Investments A/S publishes the Net Asset Value (NAV) per share as of 31 January 2025.

    NAV per share in USD: 2594.43

    The performance during January is -0.03% in USD. The year-to-date net performance is        -0.03% in USD.

    Assets under management (AUM) are 284.6 million USD.     

    The NAV per share in EUR is from 5 February 2025 published on a daily basis. The NAV in EUR is published on the website of Nasdaq Copenhagen under the section AIF Companies and Funds, where the bid and ask prices are published. The daily NAV in EUR is calculated as the most recently published NAV in USD divided by the European Central Bank’s EUR/USD reference rate on the relevant day.

    Questions related to this announcement can be made to the company’s AIF-manager, Resscapital AB.

    Contact person:
    Gustaf Hagerud
    gustaf.hagerud@resscapital.com
    Tel + 46 8 545 282 27

    Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the Key Information Document available on the Company’s website, www.resslifeinvestments.com.

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Ida Wolden Bache: Economic perspectives

    Source: Bank for International Settlements

    Data accompanying the speech

    “Some of the richest countries in the world are small. They are also outward looking.”

    So starts the first chapter of Victor Norman’s textbook on a small open economy. This is also an apt description of our country. Openness and trade have been essential to our prosperity.

    Victor Norman passed away last year, and with that Norway lost a leading researcher and an outstanding communicator. The first edition of Victor Norman’s book was published in 1983. The quotation I just cited is taken from the expanded edition released ten years later. That was more than 30 years ago, but the book bears its age well. The insights it provides are no less relevant today.

    The framework conditions for international cooperation and trade are in play. There is war in Europe, and the governments of many countries see a need for rearmament. In today’s world, emphasis must be placed on national security and preparedness considerations.

    But the gains from trade with other countries are still there in full, especially for a small economy like ours. Norman points out that small countries often have a narrow resource base as they tend to cover a small part of the earth’s crust. Norway, for example, is abundant in energy resources, but poor in arable land and the crop season is short. Norman posits in his textbook that if we shut ourselves out, such a resource base would have left us sitting hungry in overly heated homes. Trade with other countries allows us to decouple consumption from production. Small countries also have small markets, which means that the cost of producing some things domestically is higher than importing them. International trade expands markets. We can sell aluminium and buy aircraft.

    But as Norman writes: “Open economies are not without their problems. Small countries must (almost by definition) take the world as it is – with minimal possibility of influencing international developments.” This is something we have experienced, most recently during the pandemic and the subsequent global surge in inflation.

    MIL OSI Economics –

  • MIL-OSI Global: Cutting funding for science can have consequences for the economy, US technological competitiveness

    Source: The Conversation – USA – By Chris Impey, University Distinguished Professor of Astronomy, University of Arizona

    National Institutes of Health indirect costs, which are under the knife, go toward managing laboratories and facilities. Fei Yang/Moment via Getty Images

    America has already lost its global competitive edge in science, and funding cuts proposed in early 2025 may further a precipitous decline.

    Proposed cuts to the federal agencies that fund scientific research could undercut America’s global competitiveness, with negative impacts on the economy and the ability to attract and train the next generation of researchers.

    I’m an astronomer, and I have been a senior administrator at the University of Arizona’s College of Science. Because of these roles, I’m invested in the future of scientific research in the United States. I’m worried funding cuts could mean a decline in the amount and quality of research published – and that some potential discoveries won’t get made.

    The endless frontier

    A substantial part of U.S. prosperity after World War II was due to the country’s investment in science and technology.

    Vannevar Bush founded the company that later became Raytheon and was the president of the Carnegie Institution. In 1945, he delivered a report to President Franklin D. Roosevelt called The Endless Frontier.

    In this report, Bush argued that scientific research was essential to the country’s economic well-being and security. His advocacy led to the founding of the National Science Foundation and science policy as we know it today. He argued that a centralized approach to science funding would efficiently distribute resources to scientists doing research at universities.

    The National Science Foundation awards funding to many research projects and early career scientists. Pictured are astronomers from the LIGO collaboration, which won a Nobel Prize.
    AP Photo/Andrew Harnik

    Since 1945, advances in science and technology have driven 85% of American economic growth. Science and innovation are the engines of prosperity, where research generates new technologies, innovations and solutions that improve the quality of life and drive economic development.

    This causal relationship, where scientific research leads to innovations and inventions that promote economic growth, is true around the world.

    The importance of basic research

    Investment in research and development has tripled since 1990, but that growth has been funded by the business sector for applied research, while federal investment in basic research has stagnated. The distinction matters, because basic research, which is purely exploratory research, has enormous downstream benefits.

    Quantum computing is a prime example. Quantum computing originated 40 years ago, based on the fundamental physics of quantum mechanics. It has matured only in the past few years to the point where quantum computers can solve some problems faster than classical computers.

    Basic research into quantum physics has allowed quantum computing to develop and advance.
    AP Photo/Ross D. Franklin

    Worldwide, basic research pays for itself and has more impact on economic growth than applied research. This is because basic research expands the shared knowledge base that innovators can draw on.

    For example, a biotech advocacy firm calculated that every dollar of funding to the National Institutes of Health generates US$2.46 in economic activity, which is why a recent cut of $9 billion to its funding is so disturbing.

    The American public also values science. In an era of declining trust in public institutions, more than 3 in 4 Americans say research investment is creating employment opportunities, and a similar percentage are confident that scientists act in the public’s best interests.

    Science superpower slipping

    By some metrics, American science is preeminent. Researchers working in America have won over 40% of the science Nobel Prizes – three times more than people from any other country. American research universities are magnets for scientific talent, and the United States spends more on research and development than any other country.

    But there is intense competition to be a science superpower, and several metrics suggest the United States is slipping. Research and development spending as a percentage of GDP has fallen from a high of 1.9% in 1964 to 0.7% in 2021. Worldwide, the United States ranked 12th for this metric in 2021, behind South Korea and European countries.

    In number of scientific researchers as a portion of the labor force, the United States ranks 10th.

    Metrics for research quality tell a similar story. In 2020, China overtook the United States in having the largest share of the top 1% most-cited papers.

    China also leads the world in the number of patents, and it has been outspending the U.S. on research in the past few decades. Switzerland and Sweden eclipse the United States in terms of science and technology innovation. This definition of innovation goes beyond research in labs and the number of scientific papers published to include improvements to outcomes in the form of new goods or new services.

    Among American educators and workers in technical fields, 3 in 4 think the United States has already lost the competition for global leadership.

    Threats to science funding

    Against this backdrop, threats made in the beginning of President Donald Trump’s second term to science funding are ominous.

    Trump’s first wave of executive orders caused chaos at science agencies as they struggled to interpret the directives. Much of the anxiety involved excising language and programs relating to diversity, equity and inclusion, or DEI.

    The National Science Foundation is particularly in the crosshairs. In late January 2025, it froze the routine review and approval of grants and new expenditures, impeding future research, and has been vetting grants to make sure they comply with orders from the U.S. president.

    The National Institutes of Health announced on Feb. 7, 2024 a decision to limit overhead rates to 15% which sent many researchers reeling though it has since been temporarily blocked by a judge. The National Institutes of Health is the world’s largest funder of biomedical research, and these indirect costs provide support for the operation and maintenance of lab facilities. They are essential for doing research.

    The new administration has proposed deeper cuts. The National Science Foundation has been told to prepare for the loss of half of its staff and two-thirds of its funding. Other federal science agencies are facing similar threats of layoffs and funding cuts.

    The impact

    Congress already failed to deliver on its 2022 commitment to increase research funding, and federal funding for science agencies is at a 25-year low.

    As the president’s proposals reach Congress for approval or negotiation, they will test the traditionally bipartisan support science has held. If Congress cuts budgets further, I believe the impact on job creation, the training of young scientists and the health of the economy will be substantial.

    Deep cuts to agencies that account for a small fraction – just over 1% – of federal spending will not put a dent in the soaring budget deficit, but they could irreparably harm one of the nation’s most valuable enterprises.

    Chris Impey has received funding from NASA, the National Science Foundation, and the Howard Hughes Medical Institute.

    – ref. Cutting funding for science can have consequences for the economy, US technological competitiveness – https://theconversation.com/cutting-funding-for-science-can-have-consequences-for-the-economy-us-technological-competitiveness-249568

    MIL OSI – Global Reports –

  • MIL-OSI Economics: Samsung Wallet Expands Digital Key Support for Select Volvo Cars and Polestar Vehicles

    Source: Samsung

     
    Samsung Electronics today announced Digital Key compatibility with select Volvo Cars1 and Polestar2 vehicles through Samsung Wallet, offering more drivers a seamless way to use their Galaxy smartphone to unlock, lock and start their vehicle.
     
    “Expanding Samsung Digital Key access is an important part of our commitment to offering connected, secure experiences within the Galaxy ecosystem,” said Woncheol Chai, EVP and Head of the Digital Wallet Team, Mobile eXperience Business at Samsung Electronics. “Our partnership with automakers such as Volvo Cars and Polestar marks another exciting step forward in making everyday activities like driving hassle-free for more Galaxy users worldwide.”
     

     
    ▲ Volvo EX90
     
    ▲ Polestar 3
     
    Built directly into Galaxy devices, Digital Key3 lets users lock, unlock and start the paired vehicle without a physical key. Digital Key offers three ways to control the car: Ultra-wideband (UWB)4 for hands-free access, Near Field Communication (NFC) for tap-to-unlock and start, and Bluetooth low energy (BLE) control via Samsung Wallet. Users can also share Digital Keys with friends and family across OEM devices, managing access as needed.
     
    Samsung Digital Key meets EAL6+5 certification standards, the top-level security for smart devices, to protect against unauthorized access by ensuring secure embedding within the device. UWB technologies, a standardized communication protocol set by the Car Connectivity Consortium (CCC), further reduce the risk of unauthorized vehicle access with precise and reliable functionality. If a device containing a Samsung Digital Key is lost or stolen, users can remotely lock or delete their Digital Key via Samsung Find. Biometric and PIN-based user authentication on Samsung Wallet ensures that every interaction remains secure and private.
     
    Launched in June 2022, Samsung Wallet is a versatile platform that allows Galaxy users to organize Digital Keys, payment methods, identification cards and more in one secure application. Protected by defense-grade security from Samsung Knox and integrated across the Galaxy ecosystem, Samsung Wallet provides seamless connectivity and enhanced security for users in their everyday lives.
     
     
    Availability
    Samsung Digital Key functionality for select Volvo Cars vehicles will roll out starting this month in Europe, North America, Latin America and Asia.6 Samsung Digital Key functionality for select Polestar vehicles will roll out starting this month in Europe, North America and Asia.7
     
     
    About Volvo Car Group
    Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
     
    “For life. To give people the freedom to move in a personal, sustainable and safe way.” This purpose is reflected in Volvo Cars’ ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040.
     
    As of December 2024, Volvo Cars employed approximately 42,600 full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).
     
    About Polestar
    Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 27 markets globally across North America, Europe and Asia Pacific.
     
    Polestar has three models in its line-up: Polestar 2, Polestar 3 and Polestar 4. Planned models include the Polestar 5 four-door GT (to be introduced in 2025), the Polestar 6 roadster and the Polestar 7 compact SUV. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.
     
    Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity and Inclusion.
     
     

    1 Volvo vehicles supporting Digital Key include: Volvo EX90. More vehicles will follow.2 Polestar vehicles supporting Digital Key include: Polestar 3. More vehicles will follow.3 Samsung Wallet Digital Key support is available on select devices, including: Galaxy S20 Ultra/S20+/S20, S21 Ultra/S21+/S21/S21 FE, S22 Ultra/S22+/S22, S23 Ultra/S23+/S23/S23 FE, S24 Ultra/S24+/S24/S24 FE, S25 Ultra/S25+/S25, Note20 Ultra/Note20, Z Fold2, Z Fold3, Z Fold4, Z Fold5, Z Fold6, Z Flip 5G, Z Flip3, Z Flip4, Z Flip5, Z Flip6.4 UWB support is available on select devices, including: Galaxy S21 Ultra/S21+, S22 Ultra/S22+, S23 Ultra/S23+, S24 Ultra/S24+, S25 Ultra/S25+, Note20 Ultra, Z Fold2, Z Fold3, Z Fold4, Z Fold5, Z Fold6.5 Evaluation Assurance Level 6 Augmented (EAL6+) is one of the highest security certifications within Common Criteria, an internationally recognized standard for computer security certification.6 Digital Key rollout for Volvo in Asia begins in Australia, Malaysia and Thailand.7 Digital Key rollout for Polestar in Asia begins in Australia, New Zealand, Hong Kong and Singapore.

    MIL OSI Economics –

  • MIL-OSI: Incorrect intrinsic value (Indre værdi)

    Source: GlobeNewswire (MIL-OSI)

                                                                                                              Lysaker, 17 February 2025

    With reference to Nasdaq Copenhagen’s rules for issuers of UCITS units, we hereby notify that incorrect intrinsic values were reported during the period 14 January through 07 February for Storebrand Indeks – Nye Markeder as detailed below:

    Symbol Fund name Price date Time  Correct IV Reported IV Deviation (error)
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P0905       1 299,57 1 290,10 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1535       1 299,75 1 290,28 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P0935       1 298,80 1 289,34 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1005       1 300,22 1 290,74 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1035       1 299,20 1 289,73 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1105       1 299,49 1 290,02 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1135       1 300,73 1 291,25 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1205       1 300,65 1 291,17 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1235       1 300,10 1 290,63 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1305       1 301,03 1 291,55 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1335       1 299,67 1 290,20 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1405       1 300,04 1 290,57 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1435       1 300,83 1 291,35 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1505       1 301,09 1 291,61 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1605       1 299,02 1 289,55 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 14.01.2025 P1635       1 299,07 1 289,60 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P0905       1 290,91 1 281,49 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1535       1 297,07 1 287,61 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P0935       1 292,83 1 283,40 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1005       1 292,94 1 283,51 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1105       1 292,84 1 283,41 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1135       1 294,01 1 284,57 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1205       1 293,18 1 283,75 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1235       1 294,28 1 284,84 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1305       1 295,21 1 285,76 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1335       1 295,13 1 285,68 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1405       1 296,04 1 286,59 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1505       1 298,09 1 288,62 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1605       1 299,43 1 289,95 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 15.01.2025 P1635       1 300,86 1 291,37 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P0905       1 312,98 1 303,43 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1535       1 314,03 1 304,47 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P0935       1 313,46 1 303,91 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1005       1 312,33 1 302,79 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1035       1 311,65 1 302,11 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1105       1 312,30 1 302,76 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1135       1 312,25 1 302,71 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1205       1 312,43 1 302,89 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1235       1 312,50 1 302,95 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1305       1 312,06 1 302,52 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1335       1 314,21 1 304,65 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1405       1 312,81 1 303,26 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1435       1 312,88 1 303,33 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1505       1 313,06 1 303,51 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1605       1 312,29 1 302,75 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 16.01.2025 P1635       1 308,81 1 299,29 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P0905       1 311,64 1 302,13 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1535       1 315,94 1 306,39 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P0935       1 311,19 1 301,68 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1005       1 312,22 1 302,70 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1035       1 312,44 1 302,92 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1105       1 311,86 1 302,34 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1135       1 311,80 1 302,28 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1205       1 312,29 1 302,77 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1235       1 311,73 1 302,21 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1305       1 312,69 1 303,17 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1335       1 312,08 1 302,56 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1405       1 313,31 1 303,78 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1435       1 314,68 1 305,14 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1505       1 314,96 1 305,42 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1605       1 315,96 1 306,41 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 17.01.2025 P1635       1 316,31 1 306,76 -0,73 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P0905       1 323,15 1 313,66 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1535       1 317,75 1 308,30 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P0935       1 323,44 1 313,95 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1005       1 322,68 1 313,19 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1035       1 323,21 1 313,72 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1105       1 321,87 1 312,39 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1135       1 320,58 1 311,11 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1205       1 320,78 1 311,31 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1235       1 320,43 1 310,96 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1305       1 320,06 1 310,59 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1335       1 320,20 1 310,73 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1405       1 320,53 1 311,06 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1435       1 315,51 1 306,07 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1505       1 317,18 1 307,73 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1605       1 316,72 1 307,28 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 20.01.2025 P1635       1 316,48 1 307,04 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P0905       1 319,44 1 309,97 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1535       1 316,16 1 306,72 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P0935       1 321,14 1 311,66 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1005       1 320,12 1 310,65 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1035       1 320,37 1 310,90 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1105       1 321,12 1 311,64 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1135       1 320,43 1 310,96 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1205       1 320,40 1 310,93 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1235       1 320,04 1 310,57 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1305       1 318,85 1 309,39 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1335       1 318,94 1 309,48 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1405       1 318,96 1 309,50 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1435       1 317,63 1 308,18 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1505       1 317,64 1 308,19 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1605       1 316,04 1 306,60 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 21.01.2025 P1635       1 315,12 1 305,69 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P0905       1 311,04 1 301,64 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1535       1 315,03 1 305,60 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P0935       1 311,32 1 301,92 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1005       1 311,86 1 302,45 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1035       1 312,45 1 303,04 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1105       1 310,86 1 301,46 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1135       1 310,32 1 300,93 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1205       1 310,70 1 301,30 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1235       1 311,31 1 301,91 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1305       1 312,07 1 302,66 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1335       1 312,99 1 303,58 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1405       1 313,50 1 304,08 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1435       1 313,19 1 303,78 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1505       1 314,76 1 305,33 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1605       1 315,54 1 306,11 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 22.01.2025 P1635       1 315,87 1 306,44 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P0905       1 322,51 1 313,10 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1535       1 321,00 1 311,60 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P0935       1 323,21 1 313,79 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1005       1 321,03 1 311,63 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1035       1 321,06 1 311,66 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1105       1 320,50 1 311,10 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1135       1 320,29 1 310,89 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1205       1 320,98 1 311,58 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1235       1 321,47 1 312,06 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1305       1 322,19 1 312,78 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1335       1 322,43 1 313,02 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1405       1 321,62 1 312,21 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1435       1 320,62 1 311,22 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1505       1 320,41 1 311,01 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1605       1 321,48 1 312,07 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 23.01.2025 P1635       1 323,12 1 313,70 -0,72 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P0905       1 317,68 1 308,38 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1535       1 318,66 1 309,35 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P0935       1 315,53 1 306,24 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1005       1 314,18 1 304,90 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1035       1 313,12 1 303,85 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1105       1 315,26 1 305,98 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1135       1 315,08 1 305,80 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1205       1 314,59 1 305,31 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1235       1 315,51 1 306,22 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1305       1 316,51 1 307,22 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1335       1 316,23 1 306,94 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1405       1 317,30 1 308,00 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1435       1 318,95 1 309,64 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1505       1 318,66 1 309,35 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1605       1 317,51 1 308,21 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 24.01.2025 P1635       1 317,09 1 307,79 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P0905       1 300,26 1 291,08 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1535       1 291,95 1 282,83 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P0935       1 298,90 1 289,73 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1005       1 296,56 1 287,41 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1035       1 296,81 1 287,66 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1105       1 293,87 1 284,74 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1135       1 291,96 1 282,84 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1205       1 291,04 1 281,93 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1235       1 290,02 1 280,92 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1305       1 290,14 1 281,04 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1335       1 291,39 1 282,28 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1405       1 290,03 1 280,93 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1435       1 291,97 1 282,85 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1505       1 291,50 1 282,39 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1605       1 293,35 1 284,22 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 27.01.2025 P1635       1 295,08 1 285,94 -0,71 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P0905       1 310,82 1 293,52 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1535       1 310,62 1 293,32 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P0935       1 311,13 1 293,83 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1005       1 313,38 1 296,05 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1035       1 309,55 1 292,27 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1105       1 311,33 1 294,03 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1135       1 311,50 1 294,19 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1205       1 312,52 1 295,20 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1235       1 312,16 1 294,84 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1305       1 312,35 1 295,03 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1335       1 311,84 1 294,53 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1405       1 312,35 1 295,03 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1435       1 312,01 1 294,70 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1505       1 311,64 1 294,33 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1605       1 311,00 1 293,70 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 28.01.2025 P1635       1 312,01 1 294,70 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P0905       1 320,89 1 303,23 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1535       1 322,27 1 304,60 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P0935       1 320,36 1 302,71 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1005       1 320,49 1 302,84 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1035       1 320,85 1 303,19 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1105       1 322,73 1 305,05 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1135       1 322,32 1 304,65 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1205       1 323,42 1 305,73 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1235       1 322,90 1 305,22 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1305       1 323,11 1 305,42 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1335       1 322,86 1 305,18 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1405       1 322,83 1 305,15 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1435       1 322,93 1 305,25 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1505       1 322,73 1 305,05 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1605       1 321,96 1 304,29 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 29.01.2025 P1635       1 320,44 1 302,79 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P0905       1 312,84 1 295,60 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1535       1 313,88 1 296,62 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P0935       1 312,60 1 295,36 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1005       1 314,65 1 297,38 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1035       1 314,17 1 296,91 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1105       1 315,41 1 298,13 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1135       1 314,72 1 297,45 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1205       1 316,18 1 298,89 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1235       1 316,64 1 299,35 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1305       1 315,52 1 298,24 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1335       1 314,87 1 297,60 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1405       1 314,53 1 297,27 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1435       1 314,42 1 297,16 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1505       1 310,19 1 292,98 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1605       1 313,01 1 295,77 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 30.01.2025 P1635       1 313,73 1 296,48 -1,33 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P0905       1 320,37 1 302,97 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1535       1 322,89 1 305,45 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P0935       1 321,14 1 303,73 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1005       1 322,41 1 304,98 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1035       1 323,07 1 305,63 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1105       1 321,86 1 304,44 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1135       1 321,89 1 304,47 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1205       1 322,23 1 304,80 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1235       1 322,41 1 304,98 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1305       1 322,80 1 305,36 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1335       1 323,11 1 305,67 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1405       1 322,56 1 305,13 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1435       1 322,89 1 305,45 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1505       1 323,44 1 306,00 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1605       1 323,99 1 306,54 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 31.01.2025 P1635       1 322,10 1 304,67 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P0905       1 315,36 1 297,84 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1535       1 311,76 1 294,28 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P0935       1 313,83 1 296,33 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1005       1 314,83 1 297,31 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1035       1 313,71 1 296,21 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1105       1 315,40 1 297,88 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1135       1 314,76 1 297,24 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1205       1 314,65 1 297,14 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1235       1 314,56 1 297,05 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1305       1 312,80 1 295,31 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1335       1 310,15 1 292,70 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1405       1 311,11 1 293,64 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1435       1 311,46 1 293,99 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1505       1 312,92 1 295,43 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1605       1 311,38 1 293,91 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 03.02.2025 P1635       1 311,89 1 294,41 -1,35 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P0905       1 325,34 1 307,82 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1535       1 325,44 1 307,92 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P0935       1 323,13 1 305,64 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1005       1 323,00 1 305,51 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1035       1 322,13 1 304,65 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1105       1 324,03 1 306,53 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1135       1 325,55 1 308,03 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1205       1 325,42 1 307,90 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1235       1 325,80 1 308,27 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1305       1 327,23 1 309,68 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1335       1 326,97 1 309,43 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1405       1 325,92 1 308,39 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1435       1 325,87 1 308,34 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1505       1 324,52 1 307,01 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1605       1 325,82 1 308,29 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 04.02.2025 P1635       1 325,47 1 307,95 -1,34 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P0905       1 326,42 1 306,19 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1535       1 322,93 1 302,75 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P0935       1 327,16 1 306,92 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1005       1 325,33 1 305,12 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1035       1 323,77 1 303,58 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1105       1 324,29 1 304,09 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1135       1 322,15 1 301,99 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1205       1 323,46 1 303,28 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1235       1 324,32 1 304,12 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1305       1 324,72 1 304,52 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1335       1 323,77 1 303,58 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1405       1 323,42 1 303,24 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1435       1 324,81 1 304,61 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1505       1 324,29 1 304,09 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1605       1 320,33 1 300,19 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 05.02.2025 P1635       1 322,94 1 302,76 -1,55 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P0905       1 331,37 1 311,25 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1535       1 335,48 1 315,30 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P0935       1 334,21 1 314,05 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1005       1 334,83 1 314,66 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1035       1 335,24 1 315,06 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1105       1 335,53 1 315,35 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1135       1 334,83 1 314,66 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1205       1 334,92 1 314,75 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1235       1 334,74 1 314,57 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1305       1 334,54 1 314,37 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1335       1 335,31 1 315,13 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1405       1 335,67 1 315,49 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1435       1 334,89 1 314,72 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1505       1 335,07 1 314,90 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1605       1 335,04 1 314,87 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 06.02.2025 P1635       1 336,66 1 316,46 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P0905       1 337,86 1 317,74 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1535       1 340,00 1 319,85 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P0935       1 337,03 1 316,92 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1005       1 337,26 1 317,15 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1035       1 337,76 1 317,64 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1105       1 338,74 1 318,61 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1135       1 339,28 1 319,14 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1205       1 340,10 1 319,95 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1235       1 340,07 1 319,92 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1305       1 339,99 1 319,84 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1335       1 341,33 1 321,16 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1405       1 339,95 1 319,80 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1435       1 339,89 1 319,74 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1505       1 341,37 1 321,20 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1605       1 337,44 1 317,33 -1,53 %
    STIINM Storebrand Indeks – Nye Markeder A5 07.02.2025 P1635       1 338,75 1 318,62 -1,53 %

    The incorrect reporting was due to miscalculations at the fund’s management company, Storebrand Asset Management AS. The procedure for notifying the members of the Stockbrokers’ Association of the error has been initiated.

    Regards

    Storebrand Asset Management AS

    Contacts:

    Henrik Budde Gantzel, Director, henrik.budde.gantzel@storebrand.no

    Frode Aasen, Product Manager, fdc@storebrand.com

    Fund name and share class Symbol ISIN
    Storebrand Indeks – Nye Markeder A5 STIINM NO0010841570

    Storebrand is Norway’s largest private asset manager with an AuM of around DKK 900 billions, and also a leading Nordic provider of sustainable pensions and savings. The company has been a global pioneer in ESG investing for over 25 years, offering broad and scalable solutions for both institutional and private investors in the Nordic region and other European countries. Storebrand delivers sustainable investment solutions and client value through a multi-boutique platform, with the brands Delphi Funds, SKAGEN Funds and Storebrand Funds.

    The MIL Network –

  • MIL-OSI Global: What does the US public think about sending troops to foreign wars? Here’s what the evidence shows

    Source: The Conversation – UK – By Dafydd Townley, Teaching Fellow in International Security, University of Portsmouth

    The US public’s commitment to sending its sons and daughters to war has declined in recent years. Polls suggest that US involvement in modern conflicts is more likely to be viewed as mistaken than in the early and middle parts of the 20th century. Today, around 47% of Americans consider the Iraq war a mistake, and 43% feel the same about the war in Afghanistan.

    Recent announcements by the US president, Donald Trump, about the possibility of using US forces as part of his Gaza strategy is unlikely to improve those figures.

    On February 4, Trump proposed that the US effectively take control of the Gaza Strip and rebuild the area into what he has called the riviera of the Middle East.

    When he was asked at a press conference whether he would be willing to use US troops to secure the region, Trump answered that “as far as Gaza is concerned, we’ll do what is necessary. If it’s necessary, we’ll do that. We’re going to take over that piece that we’re going to develop it”.

    Trump walked back on that initial claim of the use of military personnel just days later, stating that the US military force would be unnecessary. “The Gaza Strip would be turned over to the United States by Israel at the conclusion of fighting,” adding that “No soldiers by the U.S. would be needed! Stability for the region would reign!” But others have suggested a US military presence would have to be involved.

    Putting US troops on the ground would fly in the face of current American public opinion. In a survey taken on February 12, only a quarter of those polled supported the prospect of US troops being sent to the region, and just over half (52%) of Republicans disapproved of the plan.

    Less than 25% of Americans supported the US taking ownership of the Gaza Strip, while 62% showed opposition to it. Less than half (46%) of Republican voters polled expressed support while only 10% of Democrats showed any kind of enthusiasm for the initiative, according to the poll.

    Of those polled, the majority said they opposed all of Trump’s plans to expand US-controlled territory, whether that was the Panama Canal, Greenland, Canada, or Gaza.

    The lack of support from the US public in deploying troops overseas has been constant since the withdrawal from Afghanistan in 2021 – and the American public appears to be questioning US military involvement in world affairs more generally.

    In a poll taken by foreign policy thinktank Defense Priorities in February 2024, 56% of respondents were “very worried” or “somewhat worried” that the presence of US troops in Syria could escalate into a broader conflict in the region. Of those that opposed a US military presence in Syria, 66% felt that it was a waste of resources.

    And just last September, a Pew Research Center poll revealed that 75% of those polled were worried about the Israel-Hamas conflict expanding in the region and US troops becoming more directly involved.

    Recruitment ad for the US Marines.

    This lack of public support for US military involvement abroad, as well as the poor recent record of recruitment into the military, may be informing Trump’s negotiations in both Gaza, and over the Ukraine war.



    Read more:
    US kicks off debate on conscription as other Nato members introduce drafts

    While the US public shows high levels of respect for those who serve in the military, around 80% of American teenagers are not interested in military service, while 55% of adults and 67% of parents are not likely to recommend it as a career to teenagers.

    The US has tried numerous recent initiatives, including offering substantial bonuses to entice recruits to join up, but without much success. The army, navy and air force all failed to reach their target recruitment numbers in 2023.

    This week Trump opened early discussions with Vladimir Putin, and latterly Kyiv, over proposals for a Ukraine peace deal. In a meeting with European defense ministers in Brussels on February 12, the new US defense secretary Pete Hegseth ruled out the participation of US troops in any peacekeeping mission in Ukraine, although in an interview with the Wall Street Journal on February 13 vice-president JD Vance did not rule out using the military.

    Hegseth also said that the US was planning to pull back from its role in European security, sparking high levels of concern from many European leaders.

    Some Republican senators have not been particularly supportive of Trump’s Ukraine proposals, especially those that have backed Ukraine over the last three years.

    In an interview, Senate armed services chair, Roger Wicker, said that “there are good guys and bad guys in this war, and the Russians are the bad guys. They invaded, contrary to almost every international law, and they should be defeated. And Ukraine is entitled to the promises that the world made to it.” Republican Senator Mike Rounds joined Wicker in demanding that: “Russia be recognised for the aggressor that they are.”

    There’s a similar level of concern on Trump’s Gaza plan – even from Trump’s close allies in the party. Rand Paul, the libertarian senator for Kentucky, suggested this idea flew in the face of Trump’s foreign policy proposals espoused during the campaign.

    “I thought we voted for America First. We have no business contemplating yet another occupation to doom our treasure and spill our soldiers’ blood,” he wrote on X.

    It is unlikely that the majority of Republican voters would be supportive of Trump’s Gaza initiative (or sending troops to Ukraine). This is partly because of the demands that it would make on the federal government – but also because of the necessity of using armed forces to implement it.

    Trump’s recent controversial executive orders have barely damaged his early job approval ratings. But the deployment of armed forces to Gaza or Ukraine runs counter to a long-term significant decline in public support for US overseas military intervention and that might be a step too far for many voters.

    Dafydd Townley does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. What does the US public think about sending troops to foreign wars? Here’s what the evidence shows – https://theconversation.com/what-does-the-us-public-think-about-sending-troops-to-foreign-wars-heres-what-the-evidence-shows-249419

    MIL OSI – Global Reports –

  • MIL-OSI Global: Heat pumps have a cosiness problem

    Source: The Conversation – UK – By Aimee Ambrose, Professor of Energy Policy, Member of Fuel Poverty Evidence and Trustee of the Fuel Poverty Research Network, Sheffield Hallam University

    How we keep warm at home accounts for 17% of the UK’s greenhouse gas emissions. The UK cannot reach net zero emissions, and end its contribution to climate change, without ending its reliance on natural gas as the dominant source of heating.

    As elsewhere in Europe, heat pumps (which use electricity to draw heat out of the air or ground and circulate it indoors) are regarded as the best way to reduce carbon emissions. But are people ready to ditch their gas boilers?

    My colleagues and I spent three years researching what people need, want and expect from their heating systems by asking 300 people in eight settlements across the UK, Finland, Sweden and Romania about their experiences of trying to keep warm at home. These memories ranged from as early as 1945 to the present day.

    Among the four countries we studied, the uptake of heat pumps is most sluggish in the UK and Romania. In Sweden, heat pumps are an established technology, used to heat homes outside of dense urban areas that tend to be served by heat networks, where a boiler is shared by multiple dwellings and heat pumped to each home through pipes.

    Successive oil crises accelerated the roll-out of electric heating in Sweden during the 1970s. Our participants credited widespread trust in the Swedish government at the time for the successful adoption of heat pumps.

    Relatively low trust in the government makes it more difficult to increase heat pump uptake in the UK, a problem shared by Romania, where, low trust in the government follows decades of communist rule during which energy could be cut off to maintain supply to industries.

    When coal was king and stoves were guilt-free

    We found that there were strong attachments to high-carbon fuels in many of the communities we studied – even where people were committed to a future with low-carbon energy.

    In former coalfields, such as Rotherham in south Yorkshire and Jiu Valley in south-west Romania, people spoke wistfully of the coal industry which provided jobs, housing and plentiful fuel for heating and cooking, except during industrial disputes. The coal fire was where most of our participants let their minds linger.

    The subsequent move to natural gas heating for most UK households, which started in the 1960s, failed to evoke the same enthusiasm. People did acknowledge the benefits of being able to heat the whole home evenly with gas central heating and remembered feeling glad to no longer have to clean out the grate, but this was a less remarkable era in home heating. Participants talked about it in less detail, for less time and with less enthusiasm.

    Many of our Finnish participants, despite having heat pumps or connection to a district heating network, wanted to continue burning wood at home. This treasured practice brought a sense of wellbeing. The intense pleasure of the fireside created a sense of homeliness and enabled cultural traditions such as cooking on a wood fire, plus the multi-sensory experience of a wood-fired sauna.

    Some participants worried about being considered an “environmental criminal” for driving a diesel car, but regarded burning wood as more socially acceptable. Outside of cities, plots of woodland are inherited in some families. Gathering firewood was a ritual many enjoyed and didn’t want to give up.

    Nice, but not sustainable.
    Skylines/Shutterstock

    More affluent participants in the UK also valued their wood burning stoves – a growing trend essentially borrowed from Scandinavian neighbours. Those we interviewed in Sweden also prized their wood burners but usually only in the homes or cabins where they holidayed.

    Thermal delight

    In 1979, US architect Lisa Heschong’s concept of “thermal delight” held that building designers were forgetting the importance of enabling pleasure through heat. Our research participants had not forgotten, however, and confirmed that we seek the most joyous route to warming our bodies.

    While the necessary speed of the net zero transition entails a clean sweep that substitutes fossil-fuelled heating for low-carbon, electric alternatives, our research shows that this may be unappealing to many households.

    The people we met wanted heating options to reflect different needs and preferences. Our participants valued central heating for bringing their houses to a consistent temperature, but this did not preclude a desire for the radiant heat of the log burner on some days. They also wanted the option of plugging in a portable, electric heater when they only needed to heat one room.

    They enjoyed the contrast between the intense warmth of the fireside and a cool bedroom and many regarded an even heat throughout the home as “uninviting” – something that met their needs but not their desires. The experience of different eras of home heating had taught them the value of flexibility and variety, which makes a “clean sweep” to electric heating unattractive.

    These findings do not mean that heat pumps are doomed. Indeed, heat pumps have a lot to offer in terms of reducing heating emissions. What we found does indicate a need for multiple ways to heat the home within scenarios for reaching net zero emissions.

    The transition from coal to gas heating is within living memory in the UK.
    AstroStar/Shutterstock

    Partly, this calls for innovation in home heating technology. There is really no place for burning solid fuels in a net zero future, but a concerted effort between heating researchers, designers and technologists could create a beautiful heat source that acts as a focal point, and offers something akin to the multi-sensory joy of the fireside.

    The findings also indicate the need to change how heating transitions are talked about by the government and energy companies. Away from an implacable duty to switch heating sources and the need for efficiency, and towards the joy and abundance of a heat source that (in the case of heat pumps) offers four times the heat output for the same energy input as a gas boiler.

    The best way to sell the low-carbon heating transition is locally, where the kinds of attachments and allegiances to heat that we have uncovered are best appreciated and understood. Local authorities are typically best placed to do that.

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    Aimee Ambrose receives funding from The Collaboration for the Humanities and Social Sciences in Europe (CHANSE) and The Arts and Humanities Research Council (AHRC).

    – ref. Heat pumps have a cosiness problem – https://theconversation.com/heat-pumps-have-a-cosiness-problem-249529

    MIL OSI – Global Reports –