Category: Scandinavia

MIL-OSI Asia-Pac: Ministry of Labour & Employment and FoundIt Signs MoU in Presence of Union Minister Dr. Mansukh Mandaviya
Source: Government of India (2)

Ministry of Labour & Employment and FoundIt Signs MoU in Presence of Union Minister Dr. Mansukh Mandaviya

MoU with FoundIt to Bring 10 lakh Job Opportunities Annually on NCS portal: Dr. Mandaviya

NCS Portal has become a crucial gateway, connecting millions of job seekers with employers at national and international levels – Union Minister

Partnership to Boost International Job Opportunities on NCS Portal

Posted On: 10 FEB 2025 4:48PM by PIB Delhi

In a significant move to enhance job creation and expand opportunities for young job seekers, the Ministry of Labour & Employment signed a Memorandum of Understanding (MoU) with FoundIt (Formerly Monster), a leading job portal in New Delhi today. The MoU was signed in the presence of Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya and aims to enhance international & domestic employment opportunities for job seekers registered on NCS portal.

Union Minister Dr. Mansukh Mandaviya highlighted the NCS Portal’s transformative role in bridging the gap between job seekers and employment opportunities, both within India and abroad. “The NCS Portal has become a crucial gateway, connecting millions of job seekers with employers at the national and international levels. With the addition of 3,000 to 4,000 job postings daily, this MoU is expected to bring 1.25 lakhs international vacancies and over 10 lakhs domestic vacancies to NCS each year, significantly boosting employment prospects for Indian youth,” he stated.

He further emphasized the NCS Portal’s role as a robust employment-generation platform, connecting job seekers across diverse industries. “With over 40 lakh employers registered, the portal has facilitated the mobilization of more than 4.40 crore vacancies since its inception. At any given time, nearly 10 lakh job vacancies are available, ensuring a steady flow of opportunities for the youth,” he added.

Expanding its global reach, Dr. Mandaviya highlighted the NCS Portal’s integration with the e-Migrate platform, under which more than 500 active Recruitment Agencies (RAs) registered with the Ministry of External Affairs (MEA) have been onboarded. “This initiative has opened doors for Indian professionals to secure jobs with credible, verified employers abroad,” he noted.

Calling the NCS Portal a vital resource for job seekers, Dr. Mandaviya urged the youth to register on the platform and take full advantage of the numerous career opportunities available. He mentioned that NCS portal is integrated with My Bharat, SIDH portal which is bridging the skill gap among the youth to make them more employable.

NCS पोर्टल हो रहा सशक्त!

युवाओं को रोजगार के और अधिक अवसर प्रदान करने के लिए @NCSIndia पोर्टल और @foundit_India के बीच आज MoU किया गया है। इससे NCS पोर्टल पर ही युवाओं को प्रतिवर्ष 10 लाख से अधिक नौकरियों के अवसर प्रदान होंगे।

प्रधानमंत्री श्री @NarendraModi जी के नेतृत्व में… pic.twitter.com/sUPkyKdVyA

— Dr Mansukh Mandaviya (@mansukhmandviya) February 10, 2025

Secretary MoLE, Smt. Sumita Dawra stated that countries like Germany, Finland, and nations across the Middle East are actively seeking skilled workers for both blue-collar and white-collar jobs. This MoU will enable NCS to facilitate these vacancies and enhance career prospects for Indian job seekers, she added.

V. Suresh, CEO of FoundIt, lauded the partnership, stating that it aligns with the Modi Government’s vision of ‘Sabka Saath, Sabka Vikas’ by fostering inclusive employment opportunities. “Employment is the key to economic growth, and the government’s commitment to creating better career prospects is reflected in the continued success of the NCS Portal, which connects millions of job seekers with opportunities in India and abroad,” he said.

Benefits of the MoU between MoLE and FoundIt:
1. Expanded Job Opportunities: Job seekers registered on the National Career Service (NCS) Portal will gain access to vacancies not only within India but also in Southeast Asia and the Middle East, significantly broadening their employment prospects.
2. Seamless Job Integration: FoundIt will post job opportunities on the NCS Portal, enhancing employment prospects for job seekers. It will gather job demand from employers across India, the Middle East, and Southeast Asia looking to hire in both the formal and informal sectors. Relevant job listings will be integrated into the NCS Portal via APIs for seamless access.
3. Inclusive Hiring Practices: The NCS Portal is committed to providing employment opportunities for women and persons with disabilities. This partnership with FoundIt will promote a fair and inclusive hiring process, ensuring equal job opportunities for underrepresented groups.
4. Access to a Diverse Talent Pool: Through this MoU, FoundIt will gain access to a large and diverse pool of candidates from the NCS Portal, including women and persons with disabilities. The Ministry of Labour & Employment will facilitate database integration, enabling FoundIt to connect with a broad talent base via a seamless technology interface, accessible both online and offline.
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Himanshu Pathak

(Release ID: 2101338) Visitor Counter : 85

MIL OSI Asia Pacific News –
February 11, 2025
MIL-Evening Report: Where should we look for new metals that are critical for green energy technology? Volcanoes may point the way

Source: The Conversation (Au and NZ) – By Brenainn Simpson, PhD Candidate, The University of Queensland

Florian Nimsdorf / Shutterstock

About 400 kilometres northwest of Sydney, just south of Dubbo, lies a large and interesting body of rock formed around 215 million years ago by erupting volcanoes.

Known as the Toongi deposit, this site is rich in so-called rare earths: a collection of 16 metallic elements essential for modern technologies from electric cars to solar panels and mobile phones.

Efforts are under way to mine this deposit, but the demand for rare earths in the coming decades is likely to be enormous.

To find more, we need to understand how and why these deposits form. Our latest research on Australian volcanoes, published in Nature Communications Earth and Environment, shows how tiny crystals formed inside volcanoes offer clues about the formation of rare earth deposits – and how we can find more of them.

Rare earths and the melting mantle

The formation of rare earth element deposits begins with partial melting of Earth’s mantle which lies deep below the crust.

Earth’s mantle is dominated by minerals that are rich in iron and magnesium. These minerals also contain small amounts of other elements, including the rare earth elements.

When the mantle melts to form magma, the rare earth elements move easily into the magma. If the amount of melting is small, the magma has a higher proportion of rare earth elements than if the amount of melting is large – for example, at a mid-ocean ridge where vast amounts of magma rush to the surface and form new oceanic crust.

As this magma migrates towards Earth’s surface, it cools down and new minerals begin to form. These minerals are mostly composed of oxygen, silicon, calcium, aluminium, magnesium and iron.

This means the leftover magma contains a higher concentration of rare earth elements. This residual liquid will continue to ascend through the crust until it solidifies or erupts at the surface.

From Greenland to central New South Wales

If the magma cools and crystallises in the crust, it can form rocks containing high levels of critical metals. One place where this has happened is the Gardar Igneous Complex in Southern Greenland, which contains several rare earth element deposits.

In central New South Wales in Australia, magmas enriched in rare earth elements erupted at the surface. They are collectively given the geological name Benolong Volcanic Suite.

The Toongi deposit was formed hundreds of millions of years ago.
ASM

Within this suite is the Toongi deposit – a part of the ancient volcanic plumbing system. This is an “intrusion” of congealed magma containing very high levels of critical metals.

Magmas enriched in rare earth elements are uncommon, and those that are enriched enough to be productively mined are rarer still, with only a few known examples worldwide. Even with all we know about how magmas form, there is much more work to be done to better understand and predict where magmas enriched in critical metals can be found.

Crystals record volcanic history

You may have wondered how scientists know so much about what happens kilometres (sometimes tens of kilometres) below our feet. We learn a lot about the interior of the Earth from studying rocks which make their way to the surface.

The processes that occur in a magma as it rises from Earth’s interior leave clues in the chemical composition of minerals which crystallise along the way. One mineral in particular – clinopyroxene – is particularly effective at preserving these clues, like a tiny crystal ball.

Fortunately, there are crystals of clinopyroxene within many of the rocks in the Benolong Volcanic Suite. This allowed us to examine the history of the non-mineralised rocks and compare it with the mineralised Toongi intrusion.

What’s different about the rocks at Toongi

We found that the Toongi rocks have two important differences.

First, the clinopyroxenes in the non-mineralised volcanic suite contain a lot of rare earth elements. This tells us that for most rocks in the volcanic suite, critical metals were “locked up” within clinopyroxene, rather than remaining in the residual melt.

In contrast, clinopyroxene crystals from Toongi show low levels of rare earth elements. Here, these elements are contained in a different mineral, eudialyte, which can be mined for rare earth elements.

The ‘hourglass’ shape of clinopyroxene crystals from Toongi, viewed with electron microscopy and laser mapping.
Simpson, Ubide & Spandler / Nature Communications Earth & Environment, CC BY

Second, and most interesting, the clinopyroxenes from Toongi have an internal crystal structure that resembles an hourglass shape. This is caused by different elements residing in some parts of the crystal. It’s an exciting observation because it suggests rapid crystallisation occurred due the release of gas while the crystals were forming.

In contrast, we found no evidence of rapid crystallisation in the rocks without high levels of rare earths.

Our work means we can now track the composition and zoning of clinopyroxene in other extinct volcanoes in Australia and beyond to find out which ones may accumulate relevant rare earth element deposits.

This study adds another piece of the puzzle for understanding how critical metals accumulate, and how we can find them to power green, renewable energy sources for a sustainable future.

Brenainn Simpson works for the Department of Primary Industries and Regional Development, Geological Survey of New South Wales and publishes with the permission of the Chief Geoscientist and Head of the Geological Survey of New South Wales.

Carl Spandler receives funding from the Australian Research Council.

Teresa Ubide works for The University of Queensland. She receives research funding from the Australian Research Council, and infrastructure funding from NCRIS AuScope.

– ref. Where should we look for new metals that are critical for green energy technology? Volcanoes may point the way – https://theconversation.com/where-should-we-look-for-new-metals-that-are-critical-for-green-energy-technology-volcanoes-may-point-the-way-248659

MIL OSI Analysis – EveningReport.nz –

February 11, 2025
MIL-OSI: EMGS reports fourth quarter 2024 results
Source: GlobeNewswire (MIL-OSI)

Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the fourth quarter of 2024 are attached.

Summary:

* The Company recorded revenues of USD 9.7 million, up from USD 1.1 million in the fourth quarter of 2023.

* Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 7.9 million, up from negative USD 1.7 million in the fourth quarter of 2023.

* Free cash decreased with USD 4.1 million during the quarter, to USD 9.1 million.

A pre-recorded presentation will be available over the internet from 20:00 (local time Norway) today. To access the presentation, please go to the Company’s homepage (www.emgs.com) and follow the link.

Contact
Anders Eimstad, Chief Financial Officer, +47 94 82 58 36

About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company’s services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel. CSEM technology can also be used to detect the presence of marine mineral deposits (primarily Seabed Massive Sulphides) and EMGS believes that the technology can also be used to estimate the mineral content of such deposits. The Company is undertaking early-stage initiatives to position itself in this future market.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachments
- EMGS Q4 2024 Presentation
- EMGS Q4 2024 Report
The MIL Network –
February 11, 2025
MIL-OSI Europe: Press release – President Metsola: “Örebro shooting was a senseless act of violence”
Source: European Parliament 3

President Metsola opened the 10-13 February session with a minute’s silence for the victims of last week’s shooting in Örebro – the worst in Sweden’s history.
Örebro Shooting

Calling on MEPs to observe a minute’s silence for the victims of the mass shooting at Risbergska school in Örebro on Tuesday 4 February 2025, President Metsola called the tragedy “a senseless act of violence that claimed innocent lives, shattering families, and scarring communities. Europe mourns those who have been lost, and our thoughts are with their loved ones, with all those who have been injured, and with the people of Sweden in this moment of profound sorrow.” She added that “hatred and violence have no place in Europe. The values that unite us – peace, democracy, and the dignity of human life – will always prevail.”

Three years since Russian invasion of Ukraine

President Metsola marked the third anniversary of Russia’s full-scale invasion of Ukraine by saying that “Ukraine remains resilient. And this Parliament stands with it.” President Metsola informed MEPs that Parliament will welcome Chairman Ruslan Stefanchuk of the Verkhovna Rada on Tuesday 11 February to mark this sombre anniversary.

Interruptions during International Holocaust Remembrance Day

Referring to interruptions that took place during Parliament’s solemn session on 29 January 2025 to honour International Holocaust Remembrance Day, President Metsola extended her deepest apologies for the “disgraceful” incident. “The gravity of such behaviour cannot be overstated. It is a stark reminder of why remembrance is not just a symbolic act, but a fundamental duty that this Parliament – that we all must – uphold,” she said. “The appropriate consequences will be drawn after the relevant procedures are followed. I thank all of you for being present that day.”

Changes to the agenda

MONDAY

Parliament’s statements on the Situation in Sweden in the midst of the recent mass shooting in Örebro, with one round of political group speakers, is added as the first point today.

TUESDAY

A formal sitting with an address by Ruslan Stefanchuk, Speaker of the Verkhovna Rada of Ukraine, is added at 12:00. As a consequence, the voting session will start at 12:30.

THURSDAY

The order of debates in the morning is changed as follows:

the debate on EU-Mercosur Trade Agreement is taken as the first point on the agenda, whereas

the debate on Threats to EU sovereignty through strategic dependencies in communication infrastructure follows as the second point.

Request by several committees to start negotiations with Council and Commission

Decisions by committees to enter into inter-institutional negotiations (Rule 71) are published on the plenary website.

If no request for a vote in Parliament on the decision to enter into negotiations is made by Tuesday at midnight, the committees may start negotiations.
MIL OSI Europe News –
February 11, 2025

MIL-OSI: Euronext announces volumes for January 2025

Source: GlobeNewswire (MIL-OSI)

Euronext announces volumes for January 2025

Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 10 February 2025 – Euronext, the leading European capital market infrastructure, today announced trading volumes for January 2025.

Monthly and historical volume tables are available at this address:

euronext.com/investor-relations#monthly-volumes

CONTACTS

ANALYSTS & INVESTORS – ir@euronext.com

Aurélie Cohen
Judith Stein	+33 6 15 23 91 97

MEDIA – mediateam@euronext.com

Europe	Aurélie Cohen	+ 33 1 70 48 24 45
	Andrea Monzani	+39 02 72 42 62 13
Belgium	Marianne Aalders	+ 32 26 20 15 01
France, Corporate	Flavio Bornancin-Tomasella	+ 33 1 70 48 24 45
Ireland	Andrea Monzani	+ 39 02 72 42 62 13
Italy	Ester Russom	+ 39 02 72 42 67 56
The Netherlands	Marianne Aalders	+ 31 20 721 41 33
Norway	Cathrine Lorvik Segerlund	+ 47 41 69 59 10
Portugal	Sandra Machado	+ 351 91 777 68 97
Corporate Services	Coralie Patri	+ 33 7 88 34 27 44

About Euronext  

Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway, and Portugal.

As of December 2024, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal host over 1,800 listed issuers with around €6 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.

For the latest news, go to euronext.com or follow us on X and LinkedIn.

Disclaimer

This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

The Euronext Group processes your personal data in order to provide you with information about Euronext (the “Purpose”). With regard to the processing of this personal data, Euronext will comply with its obligations under Regulation (EU) 2016/679 of the European Parliament and Council of 27 April 2016 (General Data Protection Regulation, “GDPR”), and any applicable national laws, rules and regulations implementing the GDPR, as provided in its privacy statement available at: www.euronext.com/privacy-policy. In accordance with the applicable legislation you have rights with regard to the processing of your personal data: for more information on your rights, please refer to: www.euronext.com/data_subjects_rights_request_information. To make a request regarding the processing of your data or to unsubscribe from this press release service, please use our data subject request form at connect2.euronext.com/form/data-subjects-rights-request or email our Data Protection Officer at dpo@euronext.com.

Attachment

Euronext PR Volumes – January 2025

The MIL Network –

February 11, 2025

MIL-OSI Economics: Tech titans surge while legacy giants stumble in 2024, reveals GlobalData

Source: GlobalData

Tech titans surge while legacy giants stumble in 2024, reveals GlobalData

Posted in Business Fundamentals

The latest analysis of top market value gainers and losers has uncovered intriguing trends in the stock market. Notably, there is a significant surge in investor appetite for technology stocks, charting divergent market trajectories compared to other industries. During the evaluation period from 31 January 2024 to 31 January 2025, the top gainer in market value was Santa Clara-based GPU maker NVIDIA while the top loser was the Saudi Arabian Oil Company (Saudi Aramco), reveals the Company Profiles Database of GlobalData, a leading data and analytics company

NVIDIA reportedly added a staggering $1.4 trillion to achieve a market capitalization of $2.9 trillion by the end of the review period. In stark contrast, Saudi Aramco witnessed its market value decline by $182.1 billion to reach $1.8 trillion.

Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “NVIDIA’s explosive growth is largely attributed to its dominance in artificial intelligence (AI) chips, cloud computing, and data center expansion. As the primary supplier of AI GPUs, NVIDIA capitalized on the AI boom, securing massive contracts with cloud service providers and enterprises investing in machine learning.

On the other side, Saudi Aramco witnessed a downturn in its stock value due to the ongoing global transition to renewable energy, lower demand from China, and the diminishing reliance on fossil fuels.

Apple Inc, despite being the largest company by market value at $3.5 trillion, recorded a relatively modest growth of $697.8 billion. This highlights the challenges even tech giants face in maintaining exponential growth at such a massive scale.

Grandhi continues: “Pharmaceutical companies, once considered recession-proof, have faced significant headwinds. Moderna Inc. saw its market value plummet to $15.2 billion, a decline of $23.4 billion, primarily due to the waning demand for COVID-19 vaccines and rising competition within the biotech sector. Denmark-based Novo Nordisk faced an $87.7 billion drop in valuation, attributed to regulatory scrutiny and intensifying competition in the weight-loss drug market. Meanwhile, Merck & Co., Inc. and Regeneron Pharmaceuticals Inc. experienced declines of $56.1 billion and $28.8 billion, respectively, as concerns over drug patent expirations and pricing pressures weighed on investor sentiment.”

Samsung Electronics lost $114 billion in market cap due to weak consumer electronics demand and struggles to compete in the AI chip market. Intel shed $98 billion amid supply chain disruptions and intensifying competition. Adobe declined by $88.8 billion as software subscriptions slowed and AI-driven creative tools gained traction. AMD lost $82.7 billion due to softening semiconductor sales. ASML fell $37 billion, impacted by reduced chipmaker demand and the US sanctions restricting sales of advanced lithography equipment to China, limiting its access to one of its key markets.

Grandhi concludes: “The coming months of 2025 will be highly volatile, driven by renewed tariff wars, interest rate cuts, and the divide between booming tech and struggling traditional industries. Geopolitical tensions, energy transitions, and inflation concerns will add uncertainty. While AI and renewables fuel investor optimism, supply chain disruptions and policy shifts pose risks. Businesses must embrace adaptability and diversification to navigate an unpredictable financial and economic landscape.”

MIL OSI Economics –

February 11, 2025
MIL-OSI Europe: OSCE calls for greater efforts to counter resurgent anti-Semitism and promote tolerance

Source: Organization for Security and Co-operation in Europe – OSCE

Headline: OSCE calls for greater efforts to counter resurgent anti-Semitism and promote tolerance

OSCE Chairperson-in-Office, Minister for Foreign Affairs of Finland Elina Valtonen, addresses conference on addressing anti-Semitism in the OSCE region, Helsinki, 10 February 2025. (OSCE) Photo details

HELSINKI, 10 February 2025 – Governments, civil society, representatives of Jewish and other faith communities, as well as experts from across the OSCE region meet this week to take stock of current efforts to counter anti-Semitism and other forms of intolerance and find new ways forward to tackle this deep-rooted hatred at the annual Conference on Addressing Anti-Semitism in the OSCE Region, which opened today in Helsinki.
“This year marks the 80th anniversary of the liberation of Auschwitz-Birkenau. As the living memory of the Holocaust fades, we have a profound responsibility to commemorate the victims of this atrocity and to understand its ongoing meaning and consequences,“ the Chairperson-in-Office of the OSCE and Minister for Foreign Affairs of Finland Elina Valtonen noted in her opening speech. “We must all do our part and strive to build tolerant, open, and inclusive societies, ensuring that everyone, especially the younger generation, can look forward to a future free from hatred.”
Anti-Semitism has a long and complex history in the OSCE region, and it remains a major concern. This deep-rooted hatred does not only pose a threat to Jewish individuals, families, and communities, but also to democracy and a free, diverse and peaceful society. The OSCE was the first international organization to recognize that anti-Semitism is a real threat to security and stability in our region. The commitments in this area, culminating in the 2014 Basel Declaration in which states rejected and condemned anti-Semitism, remains the foundation and guiding principle of the organization’s work in this area.
“The unspeakable atrocity of the Holocaust was the result of an ideology, an ancient hatred built on exclusion, marginalization, and the devaluation of human life,” emphasized Maria Telalian, Director of the OSCE Office for Democratic Institutions and Human Rights (ODIHR). “But through awareness raising and interfaith dialogue, we are planting the seeds of understanding and empathy, challenging the myths and stereotypes that have fuelled anti-Semitic hatred for far too long.”
The conference will focus on numerous issues, including current and emerging trends and threats in the OSCE region, the impact of new and emerging technologies such as artificial intelligence, and the importance of education and interfaith dialogue in countering anti-Semitism and other forms of intolerance.
Participants agreed that the commitment to tackling anti-Semitism and all other forms of hatred requires more than words. It requires proactive, comprehensive and sustained efforts, creative collaboration, and the courage to confront difficult truths. Only through cooperation between governments, civil society, Jewish and other religious or belief communities, the media, the private sector, universities, and international organizations, will it be possible to ensure the principles on which the OSCE is based become reality, helping to build a more resilient and secure region for all.
“Participating States and international organizations including the OSCE have made considerable progress in the past two decades in addressing a resurgent anti-Semitism, with the drafting of national strategies, appointment of coordinators, more intensive monitoring of hate crimes and data collection, new educational initiatives, and enhanced security for synagogues and other communal centers. And yet, Jews throughout the OSCE region consider anti-Semitism today to be such a real threat that it has altered the way they live their lives. This conference will be an opportunity to look carefully at what we are doing and what we must do better in order to reverse this trend,” the Personal Representative of the OSCE Chairperson-in-Office on Combating Anti-Semitism, Rabbi Andrew Baker noted.
Government officials, civil society representatives and experts from across the OSCE’s 57 participating States participated in the conference, which is part of the official programme of Finland’s 2025 OSCE Chairpersonship. All OSCE states have unequivocally condemned anti-Semitism and other forms of intolerance and discrimination, and the 2025 Chair remains committed to combating anti-Semitic hatred as well as other kinds of intolerance and discrimination.

MIL OSI Europe News –

February 11, 2025
MIL-OSI Economics: Acing a career in tech: Innovative program cuts through stereotypes

Source: Microsoft

Headline: Acing a career in tech: Innovative program cuts through stereotypes

Hassan recalls telling her that he needed six months to learn how to run a tech-training company on the model that she was proposing and to wind down his other businesses. And she said he would need to have his first paying customer within that same six months.

Hassan, his brother and their friend Salad built a network, took trainings and made connections with companies, eventually including Microsoft, which became a partner in the program.

“We had our first client in four months,” Hassan says with a laugh. It was a major Norwegian bank that committed to taking a graduate of the program for a one-year contract.

Henriette Dolven is the education lead for Microsoft Norway, and she is one of the company’s leaders who supported the Amesto Aces program.

Seven Norwegian labor and trade organizations for the tech industry collaborated on a study on the need for tech labor skills in the country by 2030, she says. “It confirmed we needed 40,000 people for tech jobs by 2030, and it was clear there aren’t enough tech graduates to fill those positions,” she says.

Dolven said she and her colleagues had been looking for partners to help fill that labor gap when they heard about Amesto Aces.

She and her colleagues began meeting with Hassan and the other leaders of Aces to see how Microsoft could help.

“The first skilling program was on cybersecurity, and it was all based on Microsoft Learn, so the content was there,” she recalls. “But the Amesto Aces used their skills to give it structure, put the different kinds of learning modules together and combine with the social skilling they provide.”

In addition to training participants in particular kinds of developing and programming, Amesto Aces trains its students in “soft skills” – how to present themselves for work and how to be a good employee.

“For me it’s kind of building upon the Microsoft values of inclusiveness – being a part of something meaningful,” Dolven says.

Spandow says the program echoes the roots of the Amesto Group, which in its earliest version was founded by her grandmother after World War II, when she created a company that provided secretarial services to companies that were short on employees – introducing women to the labor force while filling a labor gap. “In a way Amesto Aces brings it full circle,” she says.

Since its beginning, the training program has had 61 participants, and 36 have completed all certifications. Seven are completing the course now, she says. The idea is that Amesto Aces outsources their labor as contractors for one year with the hope that the company will then hire them full time.

Twelve other participants have gotten full-time jobs after fulfilling their contracts, she says. Six have found other IT jobs while doing the course, and nine have found non-IT jobs.

According to Hassan, nine participants were women, and 29 had immigrant backgrounds.

The goal is to expand the program to other Norwegian cities and eventually to the other Nordic countries, Spandow says.

MIL OSI Economics –

February 11, 2025
MIL-OSI Global: The EU was built for another age – here’s how it must adapt to survive

Source: The Conversation – UK – By Francesco Grillo, Academic Fellow, Department of Social and Political Sciences, Bocconi University

Shutterstock/gopixa

To European Commission president Ursula von der Leyen, Europe is like a Volkswagen Beetle – an iconic car produced by a once-mighty German manufacturer which has been struggling to adapt to a new world.

“Europe must shift gears,” she urged in a speech to business executives gathered in Davos, Switzerland at the beginning of the year. Yet, her call to arms failed to raise more than an eyebrow. After all, she has repeated the same call many times since she was elected six years ago. So far, there has been little result.

The US president, Donald Trump, may now even be tempted to finish off the EU (the most developed of the world’s multilateral organisations) by dividing its members over the single market for trade. This arrangement is the cornerstone upon which the union was built, but can it withstand Trump’s attempts to play European nations off against each other in order to get the best deal for himself?

The problem is that Trump is simply bringing to its most extreme consequences the weakness of a system that was built for stable times which are long gone. We urgently need a new idea, and it cannot be for a “United States of Europe”. That is a dream from the past that could not be more at odds with Europe’s current political climate.

Mini unions

Europe is unable to chart a path forward because it needs unanimity among its member states in order to make any major decision. Votes are not even weighted to reflect the different sizes of each of the club’s members.

This is a weakness that would gradually cause the deterioration of any international organisation. But in the case of the EU, the crisis is more serious because member states have surrendered part of their decision power. As a result, if the EU cannot move quickly, even member states turn out to be paralysed.

Viktor Orbán, the prime minister of Hungary, has often been singled out as the bad guy especially – this has happened every time the EU has tried to approve sanctions against Russia or aid to Ukraine. But examples of free riding abound even among the founding parties.

For decades, France has resisted any attempt to reorganise the common agricultural policy that sends a third of the EU’s budget to farmers, many of them French. Italy has halted the ratification of the reform of the European stability mechanism that should protect states from financial instability, out of the assumption among part of the Italian electorate that this may compromise further sovereignty.

Elsewhere, Germany’s constitutional court has derailed the reform of the EU electoral law that divides the election of the European parliament into a dysfunctional system of 27 national contests, because of the resistance of the German political system to any electoral law which is not proportional.

We need to find a way to change all this. And the solution cannot be the rather abstract idea of a union that proceeds at different speeds, where the older members are supposed to be part of an inner circle. Nor is it feasible to expect the abolition of unanimous voting for the simple reason that to forgo unanimity, you need a unanimous vote.

Instead, the EU should become the coordinator of multiple unions, each formed by the member states themselves around specific policies. A union might form around defence, for example, among member states which are ready for such a partnership, such as Poland, the Baltics and Finland.

Another might bring together countries that wish to collaborate on large projects such as a pan-European high-speed train, or a fully integrated energy market that may allow Italy, France and Spain to save billions of euros and decarbonise more quickly.

This is not entirely new. Arrangements like the euro and the free circulation of people (the Schengen area) follow this principle. Only a subset of EU nations are part of these projects, and offers have even been extended to join beyond the EU’s borders. Monaco is in the euro, for example, while Norway is in Schengen, despite neither being an EU member state.

The problem with these unions is that they are incomplete. The complement to the monetary union is a recently reformed “stability pact” that leaves so many loopholes that 11 out of its 20 members do not comply. And even within Schengen, there are still no proper common borders. The result is continuous reciprocal accusations of exporting each other’s illegal migrants.

The solution here is to fully share the levers within a certain policy area on terms which are more flexible and voluntary for the union’s members.

The possibility of calm divorce

Resilience is achieved through adaptability. Therefore, these new arrangements must make divorce between union members possible from the outset – and establish the terms of such a rupture in advance.

And in the event of an extreme case, the other parties should also be able to ask one of the members to leave their union (so as to avoid being systematically held to ransom by a free rider). The current union treaty does contain a provision (article 50) that enables a member to leave, as the UK did – but if Brexit showed anything, it was that this mechanism has limited use at preventing a divorce from descending into chaos.

People should always be part of these decisions, of course. When states decide to surrender some of their sovereignty to a larger organisation such as the EU, it changes the nature of the pact between the citizens of a country and the people who make decisions on their behalf. This evident truth has been ignored for decades as the EU has gradually been built from the top down.

The European Union currently resembles the marriages we once had in Europe (until well into the 20th century), before it was acknowledged that they are a civil (not necessarily religious) contract that can be dissolved through divorce – not some divine construct that can never be undone.

The marriage between EU countries is blighted by cheating and empty rhetoric. This is an issue we can no longer avoid if Europe wants to do more than just “shift gears”. The EU was the most successful political project of the 20th century. If it wants to continue to be so in the 21st, it has to learn to be flexible. Only those who can adapt survive.

Francesco Grillo is Director of the think tank Vision. Vision is convenor of three global conferences on the future of the EU, climate change and AI .

– ref. The EU was built for another age – here’s how it must adapt to survive – https://theconversation.com/the-eu-was-built-for-another-age-heres-how-it-must-adapt-to-survive-248811

MIL OSI – Global Reports –

February 11, 2025
MIL-OSI: Kvika banki hf.: Correction: Publication of annual financial statements on Wednesday 12 February

Source: GlobeNewswire (MIL-OSI)

On Monday 10 February 2025 Kvika announced that a meeting to present financial results to shareholders and market participants will be held at 08:30 on Thursday 15 August. However, the meeting will be held at 08:30 on 13 February 2025. The revised announcement is as follows:

The Board of Directors of Kvika banki hf. is set to approve the financial statements of the Group for the year 2024 at a board meeting on Wednesday 12 February. The financial statements will subsequently be published after the domestic market has closed.

A meeting to present the results to shareholders and market participants will be held the next day, at 08:30 on Thursday 13 February, at the bank’s headquarters on the 9th floor at Katrínartún 2, where Ármann Þorvaldsson, CEO of Kvika, and Eiríkur Magnús Jensson, CFO, will present the company’s financial results.

The presentation will be conducted in Icelandic and will be streamed live. Further, a recording of the meeting with English subtitles will later be made available on Kvika’s website.

Meeting participants will be able to send questions before or during the meeting via ir@kvika.is

The investor presentation will be made public before the meeting.

The MIL Network –

February 11, 2025
MIL-OSI: Kvika banki hf.: Publication of annual financial statements on Wednesday 12 February

Source: GlobeNewswire (MIL-OSI)

The Board of Directors of Kvika banki hf. is set to approve the financial statements of the Group for the year 2024 at a board meeting on Wednesday 12 February. The financial statements will subsequently be published after the domestic market has closed.

A meeting to present the results to shareholders and market participants will be held the next day, at 08:30 on Thursday 15 August, at the bank’s headquarters on the 9th floor at Katrínartún 2, where Ármann Þorvaldsson, CEO of Kvika, and Eiríkur Magnús Jensson, CFO, will present the company’s financial results.

The presentation will be conducted in Icelandic and will be streamed live. Further, a recording of the meeting with English subtitles will later be made available on Kvika’s website.

Meeting participants will be able to send questions before or during the meeting via ir@kvika.is

The investor presentation will be made public before the meeting.

The MIL Network –

February 11, 2025
MIL-OSI Economics: Space Norway orders THOR 8 telecom satellite from Thales Alenia Space

Source: Thales Group

Headline: Space Norway orders THOR 8 telecom satellite from Thales Alenia Space

Cannes, February 10^th, 2025 – Space Norway, Northern Europe’s leading satellite operator, and Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), today announced they have signed a contract for the supply of a new communications satellite, THOR 8.

THOR 8 © Thales Alenia Space/Briot

From its orbital slot at 1° west, the THOR 8 communications satellite will meet the growing demand for connectivity and ensure continuity of Space Norway’s broadcasting service over a geographic coverage area from the Nordics to Central and Eastern Europe. THOR 8 will provide top-tier satellite connectivity for broadcasters and high-speed internet access for fixed and mobile infrastructure (maritime, terrestrial and aeronautical services) in Europe, the Middle East and Africa. With a launch mass of 4 metric tons, the satellite will be built on Thales Alenia Space’s Spacebus 4000B2 platform and will operate in the Ka and Ku frequency bands.

As prime contractor, Thales Alenia Space is responsible for the design, manufacture, testing and delivery of the satellite. THOR 8 will be launched in 2027 and will have an in-orbit service life of over 15 years.

Morten Tengs, CEO of Space Norway & Hervé Derrey, CEO of Thales Alenia Space © Thales Alenia Space/Briot

“I would like to thank Space Norway for its continued trust in Thales Alenia Space,” said Hervé Derrey, CEO of Thales Alenia Space. “THOR 8 is our second satellite built for Space Norway, after THOR 6, which was launched in 2009. This new contract further underscores the success of our robust and proven Spacebus 4000 product line, which has represented a total of 41 satellite programs, including 15 based on Spacebus 4000B2 product.”

Morten Tengs, CEO of Space Norway, stated: “The deployment of the THOR 8 satellite is a significant milestone in our mission to deliver advanced and reliable connectivity solutions. This strategic addition will enhance our capabilities, providing critical services to safeguard the interests of both national and international governments while meeting the demands of our commercial partners. We extend our gratitude to Thales Alenia Space for their long-standing partnership and commitment towards this transformational project.”

About THALES ALENIA SPACE

Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources, and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the parent companies’ Space Alliance, which offers a complete range of services. Thales Alenia Space posted consolidated revenues of approximately €2.2 billion in 2023 and has around 8,600 employees in 8 countries, with 16 sites in Europe.

MIL OSI Economics –

February 11, 2025

MIL-OSI Economics: Thales at the AI Action Summit: Trusted AI can change society

Source: Thales Group

Headline: Thales at the AI Action Summit: Trusted AI can change society

10 Feb 2025

At a time when much is expected of AI and its contribution to the security and sovereignty of nations, Thales offers a hybrid, explainable, cybersafe and frugal AI, which is already incorporated into more than 100 of its products. This technology is already delivering significant advances in the protection of infrastructure, optimisation of energy consumption and defence systems.

“Thales is a key player in the field of trusted AI: our experts have developed a hybrid AI, which offers transparency, cybersecurity, energy efficiency and an ethical approach — unlike many AI systems that rely exclusively on large amounts of data and are particularly energy-intensive. Thales offers an augmented intelligence, which is capable of changing society,” said Patrice Caine, Chairman and CEO of Thales.

Patrice Caine, Chairman and CEO of Thales, will take part in the dialogue between heads of state and government and business leaders at two roundtable sessions on AI and national security and on Europe’s AI champions.

On Tuesday 11^th February, experts from cortAIx, Thales’s AI accelerator, will conduct exclusive demonstrations of the practical impacts of AI in 15 critical fields for official French and international delegations at the Thales Digital Factory. These AI-enabled solutions are designed to boost the performance of the most advanced systems and help humans make better decisions in crisis situations and high-stakes environments where data security and sovereignty are critical.

These solutions are already available and show how AI can reduce the environmental footprint of air traffic, protect airports and major events, protect maritime traffic and infrastructure, and, in the defence sector, increase the effectiveness of operational assets/resources and accelerate the OODA loop (observe, orient, decide, act).

Other events

On Tuesday 11^th February, Thales’s Friendly Hackers team will take part in the Cyber Crisis Management Exercise organised by ANSSI, France’s national agency for information system security, at the Cyber Campus in Paris.
On Tuesday11^th February, Thales will take part in two events:
- Empowering AI Ecosystems through Strategic Autonomy: Lessons from Finland and France at Finnish Embassy in Paris.
- Building Trust: Anticipating and Managing AI Risks, organised by the HEC Hub Digital and Axys in Paris.

On Monday 10^th February, Thales will take part in Military Talks, organised by the French Ministry of the Armed Forces and the Ministerial Agency for Defence AI (AMIAD), dedicated to AI for defence applications.
As part of the Confiance.ai consortium, Thales is contributing to actions to expand the programme’s role internationally.
On Sunday 8^th February, Thales took part in the AI Luminate conference: Evolving AI Safety for Economic Growth in Uncertain Times, ML Commons, AI Verify, LNE and Prism, in Paris.
On Thursday 6^th February, Thales took part in the Presentation of AI Deliverables for Major French Groups, organised by French Tech Grand Paris and Wavestone in Paris.
On Friday 24^th January, Thales took part in the French-German AI Industry Executives Dialogue, organised by the French Embassy in Berlin. This event resulted in a Call for Action, which will be presented at the AI Action Summit.
On Tuesday 21^st January, ahead of the AI Action Summit, Thales organised a visit to its cortAIx research laboratory in Palaiseau with a presentation of its latest innovations for institutional stakeholders.

Thales and AI

Thales is a major player in trusted, cybersafe, transparent, explainable and ethical AI for armed forces, aircraft manufacturers and critical infrastructure providers. The Group files more patents than any other company in Europe in the field of AI for critical systems. It employs more than 600 engineers and 100 doctoral candidates specialising in AI. It is rganised within cortAIx, the Group’s accelerator for AI R&D and the integration of AI into sensors (sonars, radars, optronics, etc.) and complex systems. Over 100 of Thales’s products and services already incorporate AI components for defence, aerospace, cybersecurity and digital identity. Trusted, secure, sovereign AI from Thales is designed to ensure more efficient data analysis and decision support and speeds up the detection, identification and classification of objects and scenes of interest while taking account of the specific constraints of critical environments such as cybersecurity, embeddability and frugality.

Thales is an active member of the AI ecosystem. It has strategic partnerships with academic research institutes and with other industry players, in particular as part of the Confiance.ai programme, and has put in place an ambitious charter on the ethical development and use of AI technologies.

In 2023, Thales’s Friendly Hackers Unit demonstrated its credentials at the CAID challenge (Conference on Artificial Intelligence for Defence) organised by the French defence procurement agency (DGA), which involved finding AI training data even when it had been deleted from the system to preserve confidentiality.
For the French defence procurement agency’s 2024 challenge, the Group’s Friendly Hackers Unit invented a new model to detect AI-generated deepfake images.

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies specialising in three business domains: Defence & Security, Aerospace and Cyber & Digital.

It develops products and solutions that help make the world safer, greener and more inclusive.

The Group invests close to €4 billion a year in Research & Development, particularly in key innovation areas such as AI, cybersecurity, quantum technologies, cloud technologies and 6G.Thales has 81,000 employees in 68 countries. In 2023, the Group generated sales of €18.4 billion.

LEARN MORE

Ahead of France’s AI Action Summit, Thales unveils its latest innovations in trusted AI for critical systems | Thales Group

Without proper cybersecurity protections, AI is a gamble we cannot afford (The Engineer)

Developing AI systems we can all trust | Thales Group

Thales speeds up its development of AI for defence | Thales Group

MIL-OSI Asia-Pac: India to Inaugurate EFTA Desk to Enhance Trade and Investment under TEPA

Source: Government of India (2)

India to Inaugurate EFTA Desk to Enhance Trade and Investment under TEPA

Business Roundtable to Witness Participation from Over 100 Companies from India and EFTA Nations

Posted On: 10 FEB 2025 10:19AM by PIB Delhi

In a significant step towards deepening economic ties with the European Free Trade Association (EFTA), Union Minister for Commerce and Industry Shri Piyush Goyal along with the EFTA bloc represented by H.E. Mrs. Helene Budliger Artieda, Swiss State Secretary, H.E. Mr. Tomas Norvoll, State Secretary of Trade and Industry, Norway, H.E. Martin Eyjolfsson, Permanent Secretary of State, Iceland, H.E. Dominique Hasler, Minister of External Affairs, Education, and Sport, Liechtenstein, Mr. Markus Schlagenhof, Deputy Secretary General, EFTA Secretariat and Mr. David Sveinbhornsson, Senior Officer, EFTA Secretariat, will inaugurate the EFTA Desk at Bharat Mandapam, New Delhi, on February 10, 2025.

The initiative, in line with Chapter 7 of the India-EFTA Trade and Economic Partnership Agreement (TEPA), which was signed on March 10, 2024, aims to serve as a dedicated platform to promote trade, investment, and business facilitation between India and the four EFTA nations—Switzerland, Norway, Iceland, and Liechtenstein. The inauguration ceremony will be attended by senior officials from the Government of India and high-ranking dignitaries from EFTA member states.

Senior officials from Department for Promotion of Industry and Internal Trade (DPIIT) and the Department of Commerce (DOC) will also address the gathering, outlining India’s vision for stronger economic engagement with EFTA nations.

The India-EFTA Dedicated Desk will act as a centralized support mechanism for EFTA companies looking to expand in India. It will provide market insights and regulatory guidance, business matchmaking, and assistance in navigating India’s policy and investment landscape.

Post-inauguration, a high-level EFTA-India Business Roundtable will convene, featuring over 100 leading businesses from India and EFTA nations, aimed at fostering collaboration across key sectors, including Pharmaceuticals & Life Sciences, Financial Services & Fintech, Mechanical & Electrical Engineering, Energy & Sustainability, Seafood & Maritime, Food Processing & Agritech. The roundtable will provide a structured forum for companies to explore joint ventures, investment opportunities, and technology partnerships under the framework of TEPA.

***

Abhishek Dayal/Abhijith Narayanan/Asmitabha Manna

(Release ID: 2101215) Visitor Counter : 23

MIL OSI Asia Pacific News –

February 11, 2025
MIL-OSI Europe: Energy in the spotlight as Benjamin Dousa visits Moldova

Source: Government of Sweden

Energy in the spotlight as Benjamin Dousa visits Moldova – Government.se

Press release from Ministry for Foreign Affairs

Published 10 February 2025

On 10–11 February, Minister for International Development Cooperation and Foreign Trade Benjamin Dousa is visiting Moldova to hold discussions about the energy situation following Russia’s Gazprom suspending its gas supplies.

“Suspending gas supplies is a way for Russia to undermine Moldova’s political and economic stability. This is why it’s important to support Moldova at this critical juncture,” says Mr Dousa.

During the visit, Mr Dousa will meet with Moldova’s Prime Minister Dorin Recean and Minister of Foreign Affairs Mihai Popșoi. Mr Dousa will also meet with representatives of civil society and the private sector for discussions around energy issues, resilience and Moldova’s path to EU accession.

Energy is an important component of Sweden’s long-term reform efforts with Moldova. Sweden provides support in areas such as increased access to sustainable energy solutions for agriculture and households in rural areas, as well as the development of district heating systems in the capital Chisinau. This cooperation enables Sweden to contribute to the green transition and to reducing the country’s reliance on Russian energy.

Swedish support to Moldova

Sweden provides extensive and long-term bilateral reform support to Moldova that aims to support the country’s path to EU accession. The support focuses on democracy, the rule of law, security, market economy development and the environment and climate. Sweden’s reform cooperation with Moldova is governed by a regional Eastern Europe strategy for the period 2021–2027, comprising a total of SEK 6.6 billion for the whole region. In 2023, Sweden’s development assistance to Moldova totalled over SEK 520 million, which included a support package to the energy sector worth SEK 300 million.

Press contact

MIL OSI Europe News –

February 11, 2025
MIL-OSI Europe: New strategy for Sweden’s global development cooperation on migration, returns and voluntary repatriation 2024–2028

Source: Government of Sweden

New strategy for Sweden’s global development cooperation on migration, returns and voluntary repatriation 2024–2028 – Government.se

International development cooperation strategies from Ministry for Foreign Affairs

Published 10 February 2025

The strategy for Sweden’s global development cooperation on migration, returns and voluntary repatriation is an important part of the implementation of the Government’s new reform agenda for development assistance. The strategy is worth SEK 3 billion in total and applies for the years 2024–2028.

Download:

This strategy will help to counteract irregular migration and stimulate well-functioning returns that can contribute to sustainable growth and development in receiving countries, and effective action for voluntary repatriation. Development assistance will also contribute to effective measures to strengthen migrants’ and refugees’ enjoyment of their rights in partner countries, support host communities, and strengthen asylum and migration management in partner countries.

Swedish development assistance can be made conditional, with the aim of ensuring that receiving countries follow principles of international law and cooperate with Sweden on matters concerning readmission of their nationals, including the removal of impediments to enforcement such as not issuing travel documents.

The strategy will complement and reinforce other parts of Sweden’s work on migration and development assistance – globally, regionally and bilaterally. Particular emphasis will be placed on coherence with Sweden’s bilateral and regional strategies that include migration objectives within development cooperation, not least in countries that Sweden prioritises in terms of returns. Interventions guided by the strategy will be coordinated with relevant missions abroad and, where possible, contribute to overall Swedish development cooperation in priority countries. The approach can be incentive-based and promote good cooperation in the area of migration. In addition, the strategy will support migration-related interventions in accordance with the Government’s priorities in countries or situations where there is no applicable country or regional strategy.

MIL OSI Europe News –

February 10, 2025
MIL-OSI: JLT Mobile Computers wins major order worth SEK 22M to leading American company in the food production industry

Source: GlobeNewswire (MIL-OSI)

Växjö, Sweden, January 10 2025 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, today announces that its American subsidiary has won an order for a leading food producer in the US. The order includes JLT’s logistics computers JLT1214N at a total value of SEK 22M, plus 1-year service level agreements. The units are scheduled for delivery during the first half of this year.

The company has been a JLT customer for many years. The reliability, dependability and performance of the JLT1214N computers have been consistently demonstrated over long periods of time. Their renewed choice of JLT for their rugged computer solution is a testament to their trust in the high-quality products and service from JLT.

To learn more about JLT Mobile Computers and the company’s products, services and solutions, visit jltmobile.com. Additional financial information is available online on JLT’s investor pages.

This information is information that JLT Mobile Computers AB (pub) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below at 09:30 pm CET on Monday, January 10, 2025.

About JLT Mobile Computers

JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. 30 years of development and manufacturing experience have enabled JLT to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports and agriculture. JLT operates globally from offices in Sweden, France, and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at jltmobile.com.

The MIL Network –

February 10, 2025
MIL-OSI: Municipality Finance issues EUR 10 million notes under its MTN programme

Source: GlobeNewswire (MIL-OSI)

Municipality Finance Plc
Stock exchange release
10 February 2025 at 10:00 am (EET)

Municipality Finance issues EUR 10 million notes under its MTN programme

Municipality Finance Plc issues EUR 10 million notes on 11 February 2025. The maturity date of the notes is 11 February 2035. The notes bear interest at a fixed rate of 2.819% per annum.

The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 11 February 2025.

ABN AMRO Bank N.V. plc acts as the dealer for the issue of the notes.

MUNICIPALITY FINANCE PLC

Further information:

Joakim Holmström
Executive Vice President, Capital Markets and Sustainability
tel. +358 50 444 3638

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.
The Group’s balance sheet totals over EUR 50 billion.

MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

Read more: https://www.kuntarahoitus.fi/en/

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

The MIL Network –

February 10, 2025
MIL-OSI: Notification of transactions by persons discharging managerial responsibilities and persons closely associated with them in Konsolidator A/S
Source: GlobeNewswire (MIL-OSI)

Company announcement no 5-2025

Søborg, February 10, 2025

Notification of transactions by persons discharging managerial responsibilities and persons closely associated with them in Konsolidator A/S

In accordance with the Market Abuse Regulation article 19, Konsolidator must notify Finanstilsynet and publicly disclose transactions made by persons discharging managerial responsibilities and persons closely associated with them on trading of Konsolidator shares.

Konsolidator A/S hereby notify and submit the attached transactions of shares in Konsolidator.

Contacts

Certified Adviser

About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL

Attachment
- Purchase of shares from Board of Directors and management
The MIL Network –
February 10, 2025

MIL-OSI: Oma Savings Bank Plc’s Financial Statements Release 1 January – 31 December 2024: The year ended with a fourth quarter in line with expectations – comparable profit before taxes was strong for 2024

Source: GlobeNewswire (MIL-OSI)

OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 10 FEBRUARY 2025 AT 9.15 A.M. EET, FINANCIAL STATEMENTS RELEASE

Oma Savings Bank Plc’s Financial Statements Release 1 January – 31 December 2024: The year ended with a fourth quarter in line with expectations – comparable profit before taxes was strong for 2024

This release is a summary of Oma Savings Bank’s (OmaSp) January-December 2024 Financial Statements Release, which can be read from the pdf file attached to this stock exchange release and on the Company’s web pages www.omasp.fi

CEO Sarianna Liiri:
“The year 2024 has been very exceptional in the history of OmaSp. Both main sources of income developed in line with expectations and the year ended with a good quarter. Significant investments in the development of risk management processes and the implementation of an extensive action plan continued. The acquisition of Handelsbanken AB’s Finnish SME business and the expansion of the distribution network strengthened OmaSp’s market position towards the end of the year and provide a good starting point for the year beginning.

The comparable profit before taxes was EUR 27.9 million for the fourth quarter and the comparable return on equity was 15.6 percent.

As expected, changes in market interest rates were reflected in the development of net interest income, and in the last quarter net interest income fell by 11 percent from the comparison period. The net interest income increased by 8 percent for the whole year. Our customers value our personal and easily accessible service model. This is reflected in the development of the number of customers, which remained despite an exceptional year at a good level. With Handelsbanken’s business acquisition, OmaSp gained approximately 10,000 new customers in the autumn, and in addition to this, approximately 1,000 new customer relationships were organically created every month. In particular, fee and commission income and expenses net were increased by card and payment fees, which increased by 16 percent from the previous year. Fee and commission income and expenses net increased by 8 percent in the last quarter and by 7 percent for the full year. At the end of the year, the business focus has been especially on the reception of customers who have transferred from Handelsbanken and the start of operations in three new branches. With the expanded distribution network OmaSp now has excellent coverage in all of Finland’s key growth and provincial centers.

OmaSp’s loan portfolio and deposit base were boosted by volumes transferred from Handelsbanken. The portfolio of housing loans grew by 5 percent, corporate loan portfolio by 8 percent and deposits by 6 percent from a year ago.

Accumulation of impairment losses on financial assets was significantly affected by non-compliance with the guidelines and related additional allowances. In 2024, credit losses amounted to approximately EUR 84 million, of which approximately EUR 64 million were related to non-compliance with the guidelines. In the last quarter, the credit loss level remained at last year’s level.

The Company has continued to make significant investments in risk management and the implementation of the action plan launched in the summer. As a result, the cost level remained high in the last quarter of the year. An additional EUR 5.4 million was invested in risk management processes in October–December and comparable costs increased by 44 percent during the fourth quarter. Expenses were also increased by the increased number of personnel. During the financial year, the Financial Supervisory Authority (FIN-FSA) carried out audits of the Company. Based on the audits, the observations raised by the supervisor and the development targets already identified by the Company itself support each other. The measures to develop the processes are proceeding well on schedule and the goal is to complete the development measures planned during 2024 in the first half of 2025.

The comparable cost/income ratio remains at a good level despite significant investments and was 47.7 percent in the last quarter.

Customer and personnel satisfaction at the center of everything
OmaSp’s competitive advantage has been and will continue to be built on excellent customer experience. According to research, customer and personnel satisfaction have remained at an excellent level as in previous years, despite the exceptional year. Our personnel are our most essential resource, so committed and motivated personnel play a vitally important role for OmaSp’s future success. The renewed board of the Company started its work in December, and we have got five experienced board experts to strengthen the bank’s operations. In addition, the Company’s new CEO, Karri Alameri, will start his work in April at the latest.

OmaSp’s financial position is stable, and the Company’s solvency and liquidity position is at a good level. The total capital (TC) ratio was 15.6 percent at the end of the year and the accumulation of equity is nearly EUR 580 million.

After the changes implemented in 2024, we will now be able to focus on our core business and strengthen the customer experience of our existing and new customers. OmaSp’s ambition is to enable and solve the needs of households and small and medium-sized enterprises in all areas of the bank’s operations. In February, the history of OmaSp stretches back 150 years. From these strong starting points, we will continue in 2025 with confidence.

Warm thanks to all customers and owners, and especially to OmaSp’s personnel for 2024!”

January-December 2024
• Oma Savings Bank Plc’s Extraordinary General Meeting was held on 10 December 2024. The Extraordinary General Meeting confirmed on the remuneration, number and composition of the members of the Board of Directors. The number of members of the Board of Directors was confirmed to be eight, i.e. the number of members increased by one. Aki Jaskari, Jaakko Ossa and Jaana Sandström were re-elected as Board members and Juhana Brotherus, Irma Gillberg-Hjelt, Carl Pettersson, Kati Riikonen and Juha Volotinen were elected as new members.
• The Company’s Board of Directors appointed Karri Alameri, B.Sc. (Econ.), CEFA as the Company’s new CEO on 30 September 2024. Alameri will start his position no later than 1 April 2025.
• On 1 September 2024, the Company completed the acquisition of Svenska Handelsbanken AB’s SME business in Finland as planned. The deposit portfolio transferred to the Company was approximately EUR 440 million and the loan portfolio approximately EUR 500 million. A goodwill of EUR 15.3 million was recognised from the acquisition. Approximately 10,000 customers transferred to the Company in the acquisition, and at the same time 30 people transferred to the Company as old employees.
• During the second quarter, the Company launched an extensive risk management action plan (the “Noste”), which has been implemented according to plan.
• In January–December, net interest income grew 8.1% compared with the same period last year. Net interest income totalled EUR 213.1 (197.0) million. In the last quarter, net interest income decreased by 10.5% compared to the comparison period.
• Home mortgage portfolio increased by 5.0% during the previous 12 months. Corporate loan portfolio increased by 8.0% during the previous 12 months.
• Deposit base increased by 5.5% over the past 12 months.
• In January-December, fee and commission income and expenses (net) increased due to volume growth by 7.0%. In the last quarter, fee and commission income and expenses (net) increased by 7.5% compared to the comparison period.
• In January–December, total operating income grew by 9.3% compared to the comparison period. In the last quarter, comparable total operating income remained at the same level compared to the last quarter and was EUR 68.2 (69.4) million.
• In January-December, total operating expenses grew in total by 22.6%. The growth is mainly explained by expenses arising from business arrangements as well as from extensive risk management development projects and investigation costs related to non-compliance with the guidelines. In addition, the number of personnel increased during the year due to the business arrangements, the opening of new branches and the strengthening of risk management processes. Other operating expenses were in total EUR 69.3 (52.5) million, of which the development costs of the risk management action plan and investigation costs related to non-compliance with the guidelines amounted to EUR 11.8 million.
• Comparable total operating expenses grew by 44.0% in the last quarter and were EUR 32.4 (22.5) million. Of this the risk management action plan (the ”Noste”) amounted to EUR 5.4 million.
• For January-December, the impairment losses on financial assets were in total EUR -83.4 (-17.1) million. A total of EUR 64.4 million in impairment losses on financial assets were recorded in relation to non-compliance with the guidelines, of which EUR 4.9 million was final impairment losses on financial assets. Impairment losses on financial assets amounted to EUR 7.6 (7.3) million in the last quarter.
• For January-December, profit before taxes was EUR 74.6 (138.0) million. For the last quarter, profit before taxes was EUR 22.6 (35.5) million.
• In January-December, comparable profit before taxes was EUR 86.7 (143.6) million. For the last quarter, comparable profit before taxes was EUR 27.9 (38.8) million.
• In January-December, cost/income ratio was 41.3 (36.9)%. In the last quarter, cost/income ratio was 52.9 (35.4)%. In January-December, comparable cost/income ratio was 37.8 (35.1)%. In the last quarter, comparable cost/income ratio was 47.7 (32.8)%.
• In January-December, comparable return on equity (ROE) was 12.4 (25.3)%. For the last quarter, comparable return on equity (ROE) was 15.6 (23.5)%.
• Total capital (TC) ratio was 15.6 (16.5)%.

The Group’s key figures (1,000 euros)	1–12/2024	1–12/2023	Δ%	2024 Q4	2023 Q4	Δ%
Net interest income	213,097	197,045	8%	50,913	56,907	-11%
Fee and commission income and expenses, net	50,745	47,421	7%	13,105	12,188	8%
Total operating income	270,068	247,067	9%	64,381	67,190	-4%
Total operating expenses	-111,004	-90,550	23%	-33,917	-23,483	44%
Impairment losses on financial assets, net	-83,379	-17,126	387%	-7,572	-7,269	4%
Profit before taxes	74,589	138,048	-46%	22,582	35,546	-36%
Cost/income ratio, %	41.3%	36.9%	12%	52.9%	35.4%	49%
Balance sheet total	7,709,090	7,642,906	1%	7,709,090	7,642,906	1%
Equity	576,143	541,052	6%	576,143	541,052	6%
Return on assets (ROA) %	0.8%	1.6%	-52%	0.9%	1.5%	-40%
Return on equity (ROE) %	10.7%	24.3%	-56%	12.6%	21.5%	-41%
Earnings per share (EPS), EUR	1.80	3.49	-48%	0.54	0.85	-36%
Total capital (TC) ratio %	15.6%	16.5%	-6%	15.6%	16.5%	-6%
Common Equity Tier 1 (CET1) capital ratio %	14.4%	14.9%	-3%	14.4%	14.9%	-3%

Comparable profit before taxes	86,656	143,609	-40%	27,945	38,790	-28%
Comparable cost/income ratio, %	37.8%	35.1%	8%	47.7%	32.8%	45%
Comparable return on equity (ROE) %	12.4%	25.3%	-51%	15.6%	23.5%	-34%

Outlook for the financial year 2025:
The Company’s business outlook for the financial year 2025 will be affected by lower market interest rates and the continued high cost level due to IT investments and system improvements required by risk management and quality processes. In addition, the Company continues to invest in customer experience on different channels. The uncertainty of the operating environment and economic situation affects the development of balance sheet items and comparable profit for the financial year 2025.

Oma Savings Bank Plc provides earnings guidance on comparable profit before taxes for 2025. Earnings guidance is based on the forecast for the entire year, which takes into account the current market and business situation. Forecasts are based on the management’s insight into the Group’s business development.

We estimate the Group’s comparable profit before taxes to be EUR 65-80 million for the financial year 2025 (comparable profit before taxes was EUR 86.7 million in the financial year 2024).

Board of Directors’ proposal for the distribution of profit to AGM
The Board of Directors proposes to the Annual General Meeting a dividend in accordance with the dividend policy, at least 20% of the Company’s net profit. The proposal for the distribution of profit aims to increase capital buffers and maintain strong liquidity. The Board of Directors proposes that, on the basis of the Financial Statements to be adopted for 2024, a dividend of EUR 0.36 be paid from the Parent Company’s distributable profits for each share entitled to a dividend for 2024.

The proposed record date for dividends would be 10 April 2025 and the payment date 17 April 2025.

No material changes have taken place in the Company’s financial position after the financial year. The Company’s liquidity is good, and the proposed profit distribution does not compromise the Company’s liquidity according to the Board of Directors’ insight.

General Meeting
The Annual General Meeting is scheduled to be held on 8 April 2024. The Company’s Board of Directors will convene the Annual General Meeting separately at a later date.

Oma Savings Bank Plc

Additional information:
Sarianna Liiri, CEO, puh. +358 40 835 6712, sarianna.liiri@omasp.fi
Minna Sillanpää, CCO, tel. +358 50 66592, minna.sillanpaa@omasp.fi

DISTRIBUTION
Nasdaq Helsinki Ltd
Major media
www.omasp.fi

OmaSp is a solvent and profitable Finnish bank. About 500 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

Attachment

OmaSp Financial Statements Release 31 December 2024

The MIL Network –

February 10, 2025

MIL-OSI: Netcompany enters into an agreement with SDC to create ‘the future of banking services’
Source: GlobeNewswire (MIL-OSI)

Company announcement (inside information)
No. 09/2025

10 February 2025

Netcompany Group A/S (“Netcompany”), SDC A/S, (“SDC”), and a majority part of the shareholders of SDC have today entered into an agreement of a transaction whereby a newly formed company of Netcompany and SDC will merge into a combined company fully owned by Netcompany. Together, Netcompany and SDC will create innovative and best-in-class banking solutions and services to the benefit of current banks running on SDC’s platform, as well as for new banks to be onboarded to the platform in the future.

The transaction values SDC at DKK 1 billion and will include a cash payment of DKK 1 billion from Netcompany to SDC’s shareholders. The cash consideration is funded by way of utilising current credit facilities.

Closing of the transaction is expected to take place around mid-2025, subject to regulatory and other customary conditions.

Strategic rationale
The transaction with SDC provides a strong foothold for Netcompany in the financial services industry, which is the highest spending vertical within IT services in Europe. In 2025, the total addressable market in DK, NO, and SE is estimated to be more than DKK 44 billion and the market is expected to grow more than 10% annually towards 2028, supporting Netcompany’s ambition of delivering continued sustainable organic growth.

Within the financial services industry, Netcompany offers a solid product and platform suite, including AMPLIO, mit.dk, AMI and EASLEY, combined with products from Festina Finance such as Festina Advisor and Festina Life and Pension. These products and platforms supplemented by SDC’s core banking platform will be the foundation of ‘the future of banking services’. Together, Netcompany and SDC will improve the banking experience for bank customers, as well as bank employees and advisors, by introducing improved and personalised advice, self-service solutions, and end-to-end digital processes to support activities such as housing journeys and onboarding, through new industry-specific and vendor-independent banking services.

Following the transaction, the combined workforce of Netcompany and SDC is more than 9,200 FTEs.

André Rogaczewski, CEO Netcompany states:
“I am thrilled to announce that we have successfully agreed on a transaction with the majority shareholders of SDC. This strategic move marks a significant milestone for Netcompany, and it aligns with our Go-To-Market strategy to expand our capabilities and enhance our service offerings within the financial services industry.
Digitalisation is the key driver for strengthening Europe’s most critical societal areas – including the financial services industry. Netcompany already provides the digital foundation with our products and platforms in the areas of pension, customs and tax, transport and logistics, and now we are going to do the same in the financial services industry. With SDC’s core banking platform and Netcompany’s innovative DNA, products, and platforms, we are looking into unprecedented opportunities for the entire banking sector. The goal of this transaction is to create innovative and best-in-class services in Denmark, Scandinavia, and the rest of Europe, to the benefit of current and future customers, thereby adding substantial value for our shareholders and stakeholders.”

Klaus Skjødt, Chair SDC states:
“This is a significant milestone in SDC’s history, as we are now building upon past investments in the market’s most modern core banking platform and future-proofed online and mobile banking. Together with Netcompany, we have a shared ambition to make the banking sector a driving force for digital innovation, setting new standards for the advice and service customers can expect from their bank. We will achieve the scale and development power necessary to enhance our competitiveness and create the market’s strongest banking experience.”

About SDC
- SDC is a prominent IT service provider headquartered in Ballerup, Denmark, specialising in delivering comprehensive IT solutions to the financial services industry across the Nordic region.
- SDC was founded in 1963 and offers a wide range of services, including core banking systems, digital banking solutions, and regulatory compliance tools.
- At the end of 2024 SDC’s workforce counted 980 FTEs in three countries.
- Prior to closing of the transaction, SDC is owned by its member banks. SDC functions as the internal IT department of the member banks, which are also in turn customers of SDC, as well as other commercial non-member banks.
- In 2023, SDC realised revenue of DKK 1,837 million and EBITDA of DKK 286.8 million.
- For additional information: https://www.sdc.dk/
About Netcompany
- Netcompany is a leading IT services company headquartered in Copenhagen, Denmark, with a strong focus on digital transformation in Europe.
- Netcompany was founded in 2000 and delivers innovative and high-quality solutions to both public and private sector clients.
- At the end of 2024 Netcompany’s workforce counted 8,260 FTEs in nine countries.
- In 2024, Netcompany realised revenue of DKK 6,540.6 million and adjusted EBITDA of DKK 1,097.9 million in 2024.
- For additional information: https://www.netcompany.com/
Summary of the transaction
- Netcompany will acquire 100% of the shares in SDC for a cash consideration at closing of DKK 1 billion.
- Netcompany will make the acquisition through a newly formed company – Netcompany Banking Services A/S – which will be merging with SDC and as a consequence resulting in a fully owned subsidiary of Netcompany in which the activities of SDC are fully embedded.
- The cash consideration is funded by way of utilising current credit facilities. The transaction will be fully debt financed within the existing covenants.
- Due to integration costs, the transaction is expected to have a dilutive impact on EPS for the financial year 2025.
- The transaction is expected to be EPS accretive to Netcompany from 2026 compared to 2024. Furthermore, the transaction is expected to be double-digit percentage EPS accretive by 2028 – also compared to 2024.
- The transaction is subject to regulatory approvals in Denmark, Norway, and Faroe Island and other customary conditions.
- Netcompany and the majority shareholders, who will continue as customers in the newly formed company after closing, will enter into a commercial IT-framework agreement (to enter into effect after closing) based on an already agreed term sheet. The agreed term sheet includes key provisions on the continued delivery of the current as-is services on a commercial market conform delivery and payment basis, a governance model with continued involvement of Netcompany and the bank customers, a fair and market-based exit model, and the transformation of the SDC platform to create ‘the future of banking services’.
- As the agreed transaction structure is set as a merger, the closing of the transaction will formally require a two-thirds approval at a general meeting in both Netcompany’s newly formed company and SDC. The majority shareholders representing 70.94% of the outstanding share capital and voting rights in SDC have at signing of the agreement with Netcompany irrevocably provided their commitment to vote for the merger.
- The remaining shareholders, and customers of SDC, will be given the opportunity to enter into a commercial IT-framework agreement with Netcompany on the same terms as the majority shareholders and irrevocably provide their approval to vote for the merger.
Financial Guidance
Financial guidance for 2025 for Netcompany on a stand-alone basis, as provided in the Annual Report 2024, is based on organic performance metrics and hence maintained. Organic revenue growth is expected between 5% and 10% and adjusted EBITDA margin between 16% and 19%.

Netcompany expects to reinitiate it’s share buyback programmes after closing of the transaction and expects leverage at the end of 2025 to be around 1.5x.

Webcast
In connection with the publication of the merger, Netcompany will host a conference call on Monday, 10 February 2025 at 8.15 am CET. The conference call will be held in English and can be followed live via the company’s website; www.netcompany.com

Dial-in details for investors and analysts:
DK: +45 78 76 84 90
UK: +44 20 3769 6819
US: +1 646 787 0157

PIN: 598046

Webcast Player URL: https://netcompany-as.eventcdn.net/events/webcast-10-februar-2025

Additional information
For additional information, please contact:

Netcompany Group A/S
Thomas Johansen, CFO, +45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87

Disclaimer
This announcement contains forward-looking statements that reflect Netcompany’s current expectations and views of future events. Some of these forward-looking statements can be identified by terms and phrases such as “estimate”, “expect”, “target”, “plan”, “project”, “will” and similar expressions. These forward-looking statements include statements relating to: the expected characteristics of the combined company; expected financial results and characteristics of the combined company; expected timing of the launch and closing of the proposed transaction and satisfaction of conditions precedent, including -regulatory conditions; and the expected benefits of the proposed transaction, including related synergies. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These forward-looking statements are based on our beliefs, assumptions, and expectations of future performance, taking into account the information currently available to us. These statements are only predictions based upon our current expectations and projections about future events. Risks and uncertainties include: the ability of Netcompany to integrate SDC into Netcompany’s operations; the performance of the global economy; the capacity for growth in internet and technology usage; the consolidation and convergence of the industry, its suppliers and its customers; the effect of changes in governmental regulations; disruption from the proposed transaction making it more difficult to maintain relationships with customers, employees or suppliers; and the impact on the combined company (after giving effect to the proposed transaction with SDC and the shareholders of SDC) of any of the foregoing risks or forward-looking statements, as well as other risk factors listed from time to time in Netcompany’s public disclosures. The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including the risk factors included in any public disclosures of Netcompany. Any forward-looking statements made in this announcement are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realised or, even if substantially realised, that they will have the expected consequences to, or effects on, us or our business or operations. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Attachment
- 09. Netcompany enters into an agreement with SDC to create ‘the future of banking services’
The MIL Network –
February 10, 2025
MIL-OSI: Inside information: Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmark
Source: GlobeNewswire (MIL-OSI)

Nokia Corporation
Inside information
10 February 2025 at 08:00 EET

Inside information: Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmark

Espoo, Finland – Nokia today announced a leadership transition. Nokia’s President and Chief Executive Officer, Pekka Lundmark, has informed the Board that he will step down. The Board has appointed Justin Hotard as the next President and Chief Executive Officer of Nokia. He will start in his new role on 1 April 2025.

Hotard joins Nokia with more than 25 years’ experience with global technology companies, driving innovation, technology leadership and delivering revenue growth. He currently leads the Data Center & AI Group at Intel. Prior to this role, he held several leadership roles at large technology companies, including Hewlett Packard Enterprise and NCR Corporation. He will be based at Nokia’s headquarters in Espoo, Finland.

“I am delighted to welcome Justin to Nokia. He has a strong track record of accelerating growth in technology companies along with vast expertise in AI and data center markets, which are critical areas for Nokia’s future growth. In his previous positions, and throughout the selection process, he has demonstrated the strategic insight, vision, leadership and value creation mindset required for a CEO of Nokia,” said Sari Baldauf, Chair of Nokia’s Board of Directors.

“I am honored by the opportunity to lead Nokia, a global leader in connectivity with a unique heritage in technology. Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI. I am excited to get started and look forward to continuing Nokia’s transformation journey to maximize its potential for growth and value creation,” said Justin Hotard.

After leading Nokia since 2020, Nokia’s current President and CEO, Pekka Lundmark, has decided to step down from executive roles and move on to the next phase of his career.

“I want to thank Pekka for his significant contributions to Nokia, he will leave with our highest respect. The planning for this leadership transition was initiated when Pekka indicated to the Board that he would like to consider moving on from executive roles when the repositioning of the business was in a more advanced stage, and when the right successor had been identified. Now, both of those conditions have been met, and he has decided to step down,” said Sari Baldauf.

She continued: “Pekka joined at a difficult time in Nokia’s history. Under his tenure, Nokia has re-established its technology leadership in 5G radio networks and built a strong position in cloud-native core networks. Network Infrastructure has delivered growth and significant profit improvement, and Nokia has secured the longevity of its patent licensing business. At the same time, Nokia has built strong foundations in new growth areas, refreshed the company’s brand and culture, transformed its operating model and rebalanced its portfolio.”

“Leading Nokia has been a privilege. When I returned to Nokia in 2020, I called it a homecoming, and it really has felt like one. I am proud of the work our brilliant team has done in re-establishing our technology leadership and competitiveness, and positioning the company for growth in data centers, private wireless and industrial edge, and defense. This is the right time for me to move on. I have led listed companies for more than two decades and although I do not plan to stop working, I want to move on from executive roles to work in a different capacity, such as a board professional. Justin is a great choice for Nokia and I look forward to working with him on a smooth transition,” said Nokia’s President and CEO Pekka Lundmark.

Lundmark will step down on 31 March 2025. He will continue as an advisor to the new CEO until the end of the year.

An event for media and financial analysts will be held today at 10:00 EET. Link to join the webcast: https://edge.media-server.com/mmc/p/hjd9zmyx.

Journalists and financial analysts, who wish to ask a question during the event, must dial-in to an audio-only conference call line. The attendees must pre-register here: https://dpregister.com/sreg/10196883/fe7f25be61.

If you wish to ask a question on the call, you must mute the webcast and only use the participant dial-in during the Q&A session as there is a delay of approximately 15-30 seconds.

Journalists and financial analysts can join via webcast or in person (Nokia’s Executive Experience Center at Karakaari 18, Espoo). Members of the media and analysts who want to participate in person, are kindly requested to show their press credential or valid ID on arrival.

Justin Hotard, CV

Born: 1974

Nationality: US national

Experience:
- Intel, Santa Clara, CA, 2024–present: Executive Vice President and General Manager, Data Center & AI Group
- Hewlett Packard Enterprise, Houston, TX / Tokyo, Japan, 2015–2024: various leadership positions including:
  - Executive Vice President and General Manager, High Performance Computing, AI & Labs
  - President and Managing Director, Japan and China
- NCR Corporation, Duluth, GA, 2007–2014: various leadership positions including: President and General Manager, Global Small Business Cloud Platform
- Symbol Technologies (acquired by Motorola, Inc), Holtsville, NY, 2003–2007: Director, Product Management and Senior Manager, Corporate Development
- Motorola, Inc, Arlington, IL, 1996–2000: Senior Systems Engineer
Education:
- Master of Business Administration, MIT Sloan School of Management, Cambridge, MA, 2002
- Bachelor of Science in Electrical Engineering, University of Illinois Urbana-Champaign, Urbana, IL, 1997
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

FORWARD-LOOKING STATEMENTS

Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to our ongoing transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “see”, “plan” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties specified in our 2023 annual report on Form 20-F published on 29 February 2024 under Operating and financial review and prospects – Risk factors.

The MIL Network –
February 10, 2025
MIL-OSI: TGS Awarded Two 4D Streamer Contracts Offshore Norway

Source: GlobeNewswire (MIL-OSI)

OSLO, Norway (10 February 2025) – TGS, a leading provider of energy data and intelligence, is pleased to announce the award of two 4D streamer contract acquisition projects, one in the North Sea and one in the Norwegian Sea. The 4D projects are scheduled to be acquired back-to-back and commence in June. The total duration of the two surveys is approximately 80 days.

Kristian Johansen, CEO of TGS, commented, “We are pleased to secure two new 4D streamer contracts. Now we have a total of six 4D streamer contracts scheduled for the 2025 summer season on the Norwegian continental shelf. The clients value our GeoStreamer technology combined with the Ramform acquisition platform, ensuring efficient delivery of high-quality data.”

For more information, visit TGS.com or contact:

Bård Stenberg
VP IR & Communication
Mobile: +47 992 45 235
investor@tgs.com

About TGS
TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

The MIL Network –

February 10, 2025
MIL-Evening Report: Eugene Doyle: Trump and foolish old men who redraw maps

COMMENTARY: By Eugene Doyle

It generally ends badly. An old tyrant embarks on an ill-considered project that involves redrawing maps.

They are heedless to wise counsel and indifferent to indigenous interests or experience. Before they fail, are killed, deposed or otherwise disposed of, these vicious old men can cause immense harm.

To see Trump through this lens, let’s look at a group of men who tested their cartographic skills and failed: King Lear and, of course, Hitler and Napoleon Bonaparte, and latterly, George W Bush and Saddam Hussein.

I even throw in a Pope. But let’s start first with Benjamin Netanyahu and Donald Trump himself.

Benjamin Netanyahu and a map of a ‘New Middle East’ — without Palestine
In September 2023, a month before the Hamas attack on Israel, Benjamin Netanyahu spoke to an almost-empty UN General Assembly. Few wanted to share the same air as the man.

In his speech, he presented a map of a “New Middle East” — one that contained a Greater Israel but no Palestine.

In a piece in The Jordan Times titled: “Cartography of genocide”, Ramzy Baroud explained why Netanyahu erased Palestine from the map figuratively. Hamas leaders also understood the message all too well.

“Generally, there was a consensus in the political bureau: We have to move, we have to take action. If we don’t do it, Palestine will be forgotten — totally deleted from the international map,” Dr Bassem Naim, a leading Hamas official said in the outstanding Al Jazeera documentary October 7.

Hearing Trump and Netanyahu last week, the Hamas assessment was clear-eyed and prescient.

Donald Trump
In defiance of UN resolutions and international law, he recognised Jerusalem as Israel’s capital, recognised the Syrian Golan Heights as part of Israel, and now wants to turn Gaza into a US real estate development, reconquer Panama, turn Canada into the 51st State of the USA, rename the Gulf of Mexico and seize Greenland, if necessary by force.

And it’s only February. The US spent blood, treasure and decades building the Rules-Based International Order. Biden and Trump have left it in tatters.

Trump is a fitting avatar for the American state: morally corrupt, narcissistic, burning down all the temples to international law, and generally causing chaos as he flames his way into ignominy.

The past week — where “Bonkers is the New Normal” — reminded me of a famous Onion headline: “FBI Uncovers Al-Qaeda Plot To Just Sit Back And Enjoy Collapse Of United States”.

The Iranians made a brilliant counter-offer to the US plan to ethnically cleanse Gaza and create a US statelet next to Israel — send the Israelis to Greenland! Unlike the genocidal US and Israeli leadership, the Iranians were kidding.

Point taken, though.

King Lear: ‘Meantime we will express our darker purpose. Give me the map there.’

Lear makes the list because of Shakespeare’s understanding of tyrants and those who oppose them.

Trump, like Lear, surrounds himself with a college of schemers, deviants and psychopaths. Image: www.solidarity.co.nz

Kent: My life I never held but as a pawn to wage against thy enemies.

Lear: Out of my sight!

Kent and all those who sought to steer the King towards a more prudent course were treated as enemies and traitors. I think of Ambassador Chas Freeman, John Mearsheimer, Colonel Larry Wilkerson, George Beebe and all the other wiser heads who have been pushed to the periphery in much the same way.

Trump, like Lear, surrounds himself with a college of schemers, deviants and psychopaths.

Napoleon Bonaparte
I was fortunate to study “France on the Eve of Revolution” with the great French historian Antoine Casanova. His fellow Corsican caused a fair bit of mayhem with his intention to redraw the map of Europe.

British statesman William Pitt the Younger reeled in horror as Napoleon got to work, “Roll up that map; it will not be wanted these 10 years,” he presciently said.

Bonaparte was an important historical figure who left a mixed and contested legacy.

Before effective resistance could be organised, he abolished the Holy Roman Empire (good job), created the Confederation of the Rhine, invaded Russia and, albeit sometimes for the better, torched many of the traditional power structures.

Millions died in his wars.

We appear to be back to all that: a leader who tears up all rule books. Trump endorses the US-Israeli right of conquest, sanctions the International Criminal Court (ICC) for trying to hold Israel and the US to the same standard as others, and hands out the highest offices to his family and confidantes.

Hitler
“Lebensraum” (Living space) was the Nazi concept that propelled the German war machine to seize new territories, redraw maps. As they marched, the soldiers often sang “Deutschland über alles” (Germany above all), their ultra-nationalist anthem that expressed a desire to create a Greater Germany — to Make Germany Great Again.

All sounds a bit similar to this discussion of Trump and Netanyahu, doesn’t it? Again: whose side should we be on?

Saddam Hussein and George W Bush
When it comes to doomed bids to remake the Middle East by launching illegal wars, these are two buttocks of the same bum. Now we have the Trump-Netanyahu pair.

Will countries like Australia, New Zealand and the UK really sign up for the current US-Israeli land grab? Will they all continue to yawn and look away as massive crimes against humanity are committed? I fear so, and in so doing, they rob their side of all legitimacy.

Pope Alexander VI
There is a smack of the Borgias about the Trumps. They share values — libertinism and nepotism, to name two — and both, through cunning rather than aptitude, managed to achieve great power.

Pope Alexander VI, born Rodrigo Borgia, father to Lucretia and Cesare, was Pope in 1492 when Columbus sailed the ocean blue.

1494. The Treaty of Tordesillas hands the New World over to the Spanish and Portuguese. Image: www.solidarity.co.nz

He was responsible for the greatest reworking of the map of the world: the Treaty of Tordesillas which divided the “New World” between the Spanish and Portuguese empires. Millions died; trillions were stolen.

We still live with the depravities the Europeans and their heritors unleashed upon the world.

I’m sure the Greenlanders, the Canadians, the Panamanians and whoever else the United States sets their sights on will resist the unwelcome attempt to colour the map of their country in stars & stripes.

History is littered with blind map re-makers, foolish old men who draw new maps on old lands.

Like Sykes, Picot, Balfour and others, Trump thinks with a flourish of his pen he can whisk away identity and deep roots. Love of country and long-suffering mean Palestinians will never accept a handful of coins and parcels of land spread across West Asia or Africa as compensation for a stolen homeland.

They have earned the right to Palestine not least because of the blood-spattered identity that they have carved out of every inch of land through their immense courage and steadfastness. We should stand with them.

Eugene Doyle is a community organiser and activist in Wellington, New Zealand. He received an Absolutely Positively Wellingtonian award in 2023 for community service. His first demonstration was at the age of 12 against the Vietnam War. This article was first published at his public policy website Solidarity and is republished here with permission.

MIL OSI Analysis – EveningReport.nz –

February 10, 2025
MIL-Evening Report: What do the changes to IUD access mean for Australian women?
Source: The Conversation (Au and NZ) – By Danielle Mazza, Director, SPHERE NHMRC Centre of Research Excellence in Women’s Sexual and Reproductive Health in Primary Care and Professor and Head of the Department of General Practice, Monash University

PeopleImages.com – Yuri A/Shutterstock

Ahead of the government’s response this week to a Senate inquiry into access to reproductive health care in Australia, the government has announced new measures to make it easier to get an intrauterine device, or IUD.

Payments to doctors and nurse practitioners to insert and remove these devices will increase. The government will also set up eight centres to train health-care professionals in IUD insertion, and ensure they are skilled and confident.

The Coalition has vowed to match this commitment if it wins the federal election.

So what are IUDs? And how might these changes impact Australian women?

‘Set and forget’ contraception

IUDs are small devices that are implanted in the uterus to prevent pregnancy. There are two types: “hormonal IUDs”, which contain the hormone levonorgestrel, and “copper IUDs”.

Another long-acting reversible contraceptive, the contraceptive implant, is about 4cm long, made of plastic and inserted just under the skin in the arm.

Hormonal IUDs (known by brand names Mirena and Kyleena in Australia) and the contraceptive implant are subsidised under the PBS, costing A$31.60 ($7.70 concession). However copper IUDs aren’t, and cost around $100.

However, women may face significant out-of-pocket costs to have IUDs and implants inserted.

IUDs are types of long-acting reversible contraception. They are often called “set and forget” because once inserted, nothing more needs to be done. Long-acting reversible contraceptives are the most effective way to prevent pregnancy (over 99%).

This compares with the commonly used contraceptive pills containing estrogen and progestogen, which need to be taken every day. These have a failure rate of 8-9% with typical use.

The hormonal IUDs’ contraceptive effect lasts for eight years, while a copper IUD can last up to ten years, depending on the type. The contraceptive implant protects against pregnancy for three years.

IUDs are a ‘set and forget’ form of contraception.
Yashkin Ilya/Shutterstock

The levonorgestrel in hormonal IUDs acts locally inside the uterus to thin the lining of the womb, so much so that after about six months of use, many women experience very little, if any, bleeding.

This reduction in menstruation can prevent or reduce conditions such as heavy menstrual bleeding, iron deficiency and period pain.

Like all contraceptives, there are potential side effects. IUD insertion is painful, there is a small risk of expulsion of IUDs and they may not be positioned correctly at the time of insertion.

Copper IUDs may cause heavier bleeding than usual.

And the contraceptive implant is associated with unpredictable (although mostly tolerable) bleeding patterns.

Australian women are less likely to use them

Just 6% of women use an IUD and another 5% use the contraceptive implant.

This compares with Sweden, where 30.9% use a long-acting reversible contraceptive, and in England, it’s over 30%.

Part of the reason is many women don’t know much about these contraceptive options, especially about IUDs.

But our research found that women were more likely to choose an IUD when their doctor incorporated information about how much more effective long-acting reversible contraceptives were during contraceptive consultations, and could refer women to get an insertion done quickly if they didn’t provide insertions themselves.

Some women rely on the pill because they don’t know they have other options.
Layue/Shutterstock

Women often struggle to find a GP who can insert an IUD and face long waiting times to get one inserted.

Despite a small increase to the Medicare rebate in 2022, the current rebate doesn’t reflect the costs or time needed by GPs to conduct the insertion. This has put a lot of GPs off from providing this service.

It can also be difficult for GPs to take time off from their clinical work to do the training, with courses costing around $1,500 and GPs not earning any income while attending.

What did the Senate inquiry recommend?

To overcome these issues, a Senate inquiry into barriers to reproductive health care recommended:
- appropriate remuneration and reimbursement for GPs providing IUD and implant insertion and removal services, including through increased Medicare rebates
- improved insertion and removal training to support the increased use of IUDs and implants in Australia.
How does this announcement stack up?

The new women’s health package directly addresses these issues by:
- increasing the clinician rebate for inserting and removing IUDs and implants
- providing Medicare rebates for nurse practitioner insertions
- providing GPs with an incentive to bulk bill insertions so women will not face any out-of-pocket costs
- funding eight centres across Australia to train clinicians to ensure they’re trained, skilled and confident in IUD insertion.
These measures complement announcements made last year to provide training scholarships for GPs and nurses to train in IUD insertion and to fund an online “community of practice” to support practitioners to provide these services.

With the increased rebates rolling out from November 1, and the training centres in the next year or two, we should see many more GPs skilled up and providing IUDs in the next few years.

This should make it more affordable and much easier for women to find a clinician to insert it.

Another reproductive health issue remains unaddressed

The government is expected to table its response in parliament this week to the reproductive health care access Senate inquiry.

While there have been many improvements in access to medical abortion, particularly the ability for women to receive a medical abortion via telehealth through Medicare, key challenges remain in ensuring all Australian women can access surgical abortion.

Policymakers will need to focus attention on training a new generation of clinicians to undertake surgical abortions, and developing transparent local pathways for women to access care.

Danielle Mazza has received funding for research and conference attendance and served on advisory boards for Bayer, Organon, MSD and Gedeon Rechter. SPHERE and the ACCORd trial mentioned in the article were funded by the NHMRC and the Extend Prefer study by the Australian Department of Health. The roundtable on barriers to LARC was funded by Bayer.

– ref. What do the changes to IUD access mean for Australian women? – https://theconversation.com/what-do-the-changes-to-iud-access-mean-for-australian-women-249473
MIL OSI Analysis – EveningReport.nz –
February 10, 2025
MIL-OSI China: Sharing their love of culture

Source: China State Council Information Office 3

Golden threads dance between silver needles, threading vitality into the intricate snake-pattern embroidered fan in the warm sunlight in winter.

As the vibrant colors bring the snake to life, Liu Xiaoyan, an embroidery master, weaves her heartfelt wishes for a prosperous Year of the Snake with each stitch.

Liu was demonstrating her craft in a fun park in Greece on Jan 19, which is part of a cultural trip she and her team are on, called “Happy Spring Festival “organized by the Beijing Overseas Cultural Exchange Center to spread Chinese culture to the countries they travel to.

The cultural celebration is an annual activity held since 2016 to celebrate the Chinese New Year with Chinese community in other countries as well as other local people wanting to discover more about Chinese traditional culture. This year’s activity included a series of events in Greece, Italy, Sweden, Norway, Finland, Estonia, Turkiye, and Nigeria.

In her display table, Liu presented over 40 exquisite and captivating embroidery pieces, ranging from garments and scrolls to smaller items such as brooches and earrings to display the enchantment of Chinese aesthetics. Passersby couldn’t help but stop and admire the works, with some excitedly trying their hands at creating their own embroidered fans.

“We are happy for this,” said Nadia, a local woman who watched Liu’s performance in Athens, “The Chinese community in Athens is really vibrant and strong, and I hope you’re going to be healthy and happy throughout the Year of the Snake.”

“My heartfelt thanks to you — both the artistic works and the food are amazing,” said a local man named Vassili, who was happy watching Liu’s performance and expressed his “Happy the Year of the Snake” congratulations to all.

What Liu displayed at the exhibition is the art of Beijing embroidery, recognized as an intangible cultural heritage of the nation, to which she is inheritor and master of arts and crafts in Beijing. Liu’s family has had a long connection with the world of tailoring as four generations of her family worked as tailors, which brought her an early exposure to the craft of embroidery and naturally sparked her interest in Beijing embroidery, a form of classical Chinese royal embroidery that dates back to the Tang Dynasty (618-907).

Characterized by exquisite details and auspicious patterns, the demanding techniques of Beijing embroidery are a time-consuming challenge. “It took me three months to embroider just one peony leaf at my first attempt,” Liu recalled.

The skills needed to become an exceptional embroiderer, however, were not the only lessons Liu learned from several masters of Beijing embroidery over the course of 17 years.

“My teachers always advised me not to limit myself to the needle and thread,” Liu recalled. “Instead, they encouraged me to think about how I could carry the essence of Chinese traditional culture into the modern era, ensuring this form of national intangible cultural heritage would continue to thrive.”

In addition to mixing the popular snake motif for the New Year into embroidery works, such as fans, brooches, and earrings, Liu also experimented with traditional colors and techniques to convey grand messages of the times through these small pieces.

Hitting new heights

“Turquoise and lapis green are commonly used in traditional Chinese painting. With these two colors in this mountain-shaped brooch, I hope to convey our current pursuit of a better life and a cleaner environment,” Liu said, pointing to the brooch she was wearing.

From Jan 18 to 28, during the “Happy Spring Festival” trip, Liu showcased her works in Greece and Italy. “For me, it’s not only an opportunity to show Chinese traditional culture, but also a way to inspire me to keep this intangible cultural heritage alive by learning the tastes of global audiences and the methods of my global counterparts,” Liu said.

Organized jointly by the Beijing Municipal Bureau of Culture and Tourism and local Chinese embassies, consulates and cultural centers, among other institutions, the “Happy Spring Festival” events feature a diverse array of activities such as display of Liu’s embroidery products, interactive activities with local audiences, Chinese New Year photo exhibitions, exhibitions of award-winning entries from the Global Zodiac Design Competition, and VR exhibitions of Beijing’s Central Axis that was recognized as a UNESCO World Heritage Site in 2024, all showcasing the rich connotations of Chinese New Year culture.

Another of the intangible cultural heritage practitioners taking part is Ha Xin, a fifth-generation inheritor of kite-making skills named after his family name, which, with a history of over 160 years, was included on the national intangible cultural heritage list in 2008. While all ordinary kite-making procedures are similar and involve making the different parts of the skeleton of the kite with bamboo, then gluing them together and covering the framework with paper, Ha’s kites are uniquely artistic as he invests a lot of time and energy into the drawing and design.

For Ha, drawing is the gene of the kites he makes and he usually spends over 20 days drawing on a kite. His grandfather, the third-generation inheritor of the art, once said: “A kite might last only about 100 years but the drawing and design on it might exist much longer.”

Ha’s drawings on the kite include birds, butterflies, goldfish and dragons. This time he has creatively designed kites with drawings of Dala horses in Sweden and moose of Norway, to convey China’s friendliness to the people of Scandinavian countries, which are his trip destinations.

To make it interactive, Ha has also halfmade a large dragon kite and invited local audiences to participate in finishing the kite on-site. “By allowing locals to do it together, I hope they can enjoy the process and gain a love for the Chinese art of kites.”

Expressive dance

The Beijing Dance Academy also participated in this year’s activity. Zeng Ming, a teacher in its Department of Chinese Classical Dance, led a group of seven dancers to perform in Nigeria and Turkiye, showcasing the beauty of Chinese classical dance.

Among the performances was Zeng’s solo dance titled Calligraphy and Painting. This piece is a fusion of two traditional Chinese art forms — calligraphy and classical dance. In the performance, Zeng held a calligraphy brush throughout, using the movements of writing as a form of expressive dance.

The dance reflects the passion and flowing strokes of Chinese calligraphy. As the music progresses, the rhythm of the dance grows more intense, akin to the moment when ancient Chinese literati moved their brushes vigorously to express their inner passion with strokes powerful enough to penetrate the paper.

Calligraphy and Painting is not only a celebration of Chinese calligraphy but also a vivid portrayal of the artistry and philosophy behind it, according to Zeng. By integrating the fluid motions of calligraphy with dynamic dance steps, Zeng’s performance embodies the harmony of body, mind, and spirit.

The dance accentuates the elegance and intricate beauty of Chinese calligraphy, while also conveying its deep cultural significance, reflecting the Chinese literati spirit and profound historical roots of Chinese tradition.

Through the performance, Zeng and his fellow dancers brought Chinese culture to international audiences, demonstrating how Chinese classical dance and calligraphy can transcend cultural boundaries and resonate with people worldwide. There are also dances in which the dancers manipulate long silk ribbons to resemble snake, through which they hope to wish the audiences a happy Year of the Snake.

“I believe that in this overseas performance, we represent our country and demonstrate the grandeur and broadmindedness of China as a nation of etiquette,” Zeng said, “We want the audiences to see the spirit of the Chinese people and feel the depth of Chinese culture.”

MIL OSI China News –

February 10, 2025
MIL-OSI New Zealand: Activist News – Winston Peters refusal to join 79 countries to protect the International Criminal Court puts New Zealand firmly in Trump’s minority, lawless, hard-right camp – PSNA
Source: Palestine Solidarity Network Aotearoa

Winston Peters’ refusal to join other 79 countries trying to protect the International Criminal Court after vicious attacks and sanctions issued by US President Trump is unconscionable.

“Endless New Zealand politicians, including the present government, have pointed to our support for a rules-based international system” says PSNA National Chair John Minto. “The ICC is a key part of that system but Winston Peters has jettisoned this policy in favour of a US-First approach; rather than a New Zealand-First approach”

In fact, we can find no evidence that Peters has ever uttered a word of real criticism of the US in his entire political career.

Within the past two weeks Winston Peters has

Openly welcomed Israeli soldiers and Israeli war criminals coming into New Zealand, with no questions asked, for “rest and recreation” from their genocide in Gaza

Refused to condemn Trump’s racist plans for the ethnic cleansing of Palestinians from Gaza so his son-in-law can turn it into a “Riviera of the Middle East’. This is an intended international crime of epic proportion, and now

Refused to join 79 countries supporting the International Criminal Court against Trump’s actions

“The countries we are refusing to join in criticising Trump include two other Five Eyes countries, the UK and Canada, as well as Germany, France, Ireland, Switzerland, Sweden, Netherlands, Greece, Norway, Portugal, Spain etc”

“Winston Peters has put New Zealand in the hard-right international minority extremist camp with Trump” says PSNA National Chair John Minto. “This is creepy and cowardly complicity with a state whose values we do not share.”

“Winston Peters’ ministry has been at great pains over the past year to state how much our government supports the work of the ICC. The MFAT website states “We have also been clear in our support of the International Criminal Court’s mandate in Palestine”

“But when the ICC issues arrest warrants against Israeli leaders for war crimes and crimes against humanity, our government goes completely silent.”

“Will Winston Peters now copy his master and revoke an immigration ban on 33 Israeli settlers responsible for leading pogroms against Palestinian communities in the Occupied West Bank, as Trump did a few days ago?”

“US policy towards Palestine underlines the case for New Zealand to leave the Five Eyes US international spy network.”

“An independent foreign policy means making our own decisions and working with the great majority of like-minded countries who support international institutions, such as the ICC and the International Court of Justice.”

“Instead, we have a foreign minister who is in the US pocket and blindly working for the interests of Trump and his robber barons.”

John Minto

National Chair

Palestine Solidarity Network Aotearoa
MIL OSI New Zealand News –
February 10, 2025
MIL-OSI United Kingdom: Home buying and selling to become quicker and cheaper
Source: United Kingdom – Government Statements

Major new plans to modernise home buying and selling to save people time and money and further measures to improve the lives of leaseholders
Millions of people are set to benefit from improvements to the way homes are bought and sold, saving them both time and money by helping stop property transactions from falling through.

Under major new plans, the government has announced today [February 9] it will modernise the way the process works to bring down current delays of almost five months. One of the key reasons the buying and selling process can be long and frustrating is a lack of digitalisation and join up in the sector, which is why the government is opening up key property information, ensuring this data can be shared between trusted professionals more easily, and driving forward plans for digital identity services to slash transaction times.

These reforms will make home buying fit for the 21st Century and give much-needed certainty to everyone involved in property transactions, with one million taking place in the UK every year. By making information available at people’s fingertips, it will be far less likely for surprises to be encountered later on in the process. This will make it easier for people to get onto the housing ladder, reduce the requirement to share ID in-person in the long-term, and decrease the number of transactions collapsing.

Currently, fall throughs – which impact one in three transactions – cost people around £400 million a year, on top of the four million working days lost by conveyancers and estate agents alone which is equivalent to £1 billion. By bringing the process into the digital age, and learning from success stories such as Norway where transactions complete in around one month, the government is putting more money into the pockets of hardworking people and delivering on our Plan for Change to grow the economy.

Meanwhile changes to improve the lives of leaseholders – who have already achieved the dream of homeownership but found it falls short of what they were promised – will also be introduced from next week, with secondary legislation for the Right to Manage measures in the Leasehold and Freehold Reform Act 2024 being laid tomorrow – ahead of the schedule the government committed to last year.

These changes, which will come into force on 3rd March, will empower more leaseholders to take control of their buildings more easily, giving them power over how their service charges are spent, and removing the requirement for leaseholders to cover the legal fees of their freeholder when making a Right to Manage claim – potentially saving them up to £3,000 for the most costly claims, and reducing the incentive for landlords to obstruct the process.

Housing and Planning Minister Matthew Pennycook said:

“We are streamlining the cumbersome home buying process so that it is fit for the twenty-first century, helping homebuyers save money, gain time and reduce stress while also cutting the number of house sales that fall through.

“Our modernisation of the system sits alongside further reforms to improve the lives of leasehold homeowners across the country, allowing them to more easily and cheaply take control of the buildings they live in and clamp down on unreasonable or extortionate charges.

“These reforms build on the government’s Plan for Change to deliver higher living standards and 1.5 million safe and decent homes in this Parliament, and our ongoing efforts to protect leaseholders suffering from unfair and unreasonable practices as we work to end the feudal leasehold system for good.”

Currently, information such as building control and highways information is predominantly paper-based or recorded in non-machine-readable formats. On top of this, where data is available electronically, there are not established protocols for accessing, sharing and verifying that data which leads to more delays.

But under a fully digitalised home buying and selling process, the information key parties need – from mortgage companies to surveyors – will be within reach immediately, with the necessary identity checks carried out once. Clear information early on will mean there are no surprises late on in the transaction which might cause it to fall through, so instead the transaction is completed smoothly without unnecessary time, energy or money spent.

That’s why the department is working hand-in-hand with the property market, supported by HM Land Registry (HMLR), and is today announcing a 12-week project to identify the design and implementation of agreed rules on data for the sector, so that it can easily be shared between conveyancers, lenders and other parties involved in a transaction. HMLR will also build on its work in digitising property information and lead 10-month pilots with a number of councils to identify the best approach to opening up more of their data and making it digital, whilst the government pushes ahead with plans for digital identity verification services including in the property sector.

This will all be carried out in conjunction with the Digital Property Market Steering Group – a collection of industry and government experts committed to digitalising the home buying and selling process and delivering this change.

The government has already:

Launched a New Homes Accelerator to unblock thousands of homes stuck in the planning system.  

Set up an independent New Towns Taskforce, as part of a long-term vision to create large-scale communities of at least 10,000 new homes each.  

Awarded £68 million to 54 local councils to unlock housing on brownfield sites.  

Awarded £47 million to seven councils to unlock homes stalled by nutrient neutrality rules.  

Announced an additional £3 billion in housing guarantees to help builders apply for more accessible loans from banks and lenders.  

Extended the existing Home Building Fund for next year providing up to £700 million of vital support to SME housebuilders, delivering an additional 12,000 new homes.  

Notes to editors:

More than 300,000 property transactions fall through in the UK every year at a cost to sellers of £400 million, according to a survey commissioned by the HomeOwners Alliance (HOA) and online homebuyer IMMO.co.uk in 2018.

Almost a third of adults surveyed by the Homeowners Alliance in 2024, when asked how the conveyancing process could be improved, said it should be faster.

MHCLG has recently taken over the chairing of the Digital Property Market Steering Group. The group consists of organisations that represent the various professions involved in the buying and selling process and is committed to driving digitalisation of the home buying and selling system.

Right to Manage is the only way for leaseholders to take back control over extortionate fees and mismanagement of their homes, without being forced to buy the freehold.

The Right to Manage Statutory Instrument will be laid in parliament on Monday, and will come in to effect from 3rd March 2025

This marks the next step on government’s timetable for further leasehold and commonhold reform which can be found here: Sweeping reforms to give leaseholders more powers and protections – GOV.UK

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MIL OSI United Kingdom –
February 9, 2025
MIL-Evening Report: Mark Brown on China deal: ‘No need for NZ to sit in the room with us’

By Caleb Fotheringham, RNZ Pacific journalist

Cook Islands Prime Minister Mark Brown says New Zealand is asking for too much oversight over its deal with China, which is expected to be penned in Beijing next week.

Brown told RNZ Pacific the Cook Islands-New Zealand relationship was reciprocal.

“They certainly did not consult with us when they signed their comprehensive partnership agreement [with China] and we would not expect them to consult with us,” he said.

“There is no need for New Zealand to sit in the room with us while we are going through our comprehensive agreement with China.

“We have advised them on the matter, but as far as being consulted and to the level of detail that they were requiring, I think that’s not a requirement.”

Brown is going to China from February 10-14 to sign the “Joint Action Plan for a Comprehensive Strategic Partnership”.

The Cook Islands operates in free association with New Zealand. It means the island nation conducts its own affairs, but Aotearoa needs to assist when it comes to foreign affairs, disasters, and defence.

NZ seeks more consultation
New Zealand is asking for more consultation over what is in the China deal.

Foreign Minister Winston Peters said neither New Zealand nor the Cook Island people knew what was in the agreement.

“The reality is we’ve been not told [sic] what the nature of the arrangements that they seek in Beijing might be,” he told RNZ Morning Report on Friday.

In 2023, China and Solomon Islands signed a deal on police cooperation as part of an upgrade of their relations to a “comprehensive strategic partnership”.

Brown said he had assured New Zealand “over and over” that there would be no impact on the countries’ relationship and “no surprises”, especially on security aspects.

“But the contents of this agreement is something that our team are working on with our Chinese counterparts, and it is something that we will announce and provide once it is signed off.”

He said it was similar to an agreement New Zealand had signed with China in 2014.

Deep sea mining research
Brown said the agreement was looking for areas of cooperation, with deep sea mining research being one area.

However, he said the immediate area that the Cook Islands wanted help with was a new interisland vessel to replace the existing ageing ship.

Brown has backed down from his controversial passport proposal after facing pressure from New Zealand.

He said the country “would essentially punish any Cook Islander that would seek a Cook Islands passport” by passing new legislation that would not allow them to also hold a New Zealand passport.

“To me that is a something that we cannot engage in for the security of our Cook Islands people.

“Whether that is seen as overstepping or not, that is a position that New Zealand has taken.”

A spokesperson for Peters said the two nations did “not see eye to eye” on a number of issues.

Relationship ‘very good’
However, Brown said he always felt the relationship was very good.

“We can agree to disagree in certain areas and as mature nation states do, they do have points of disagreement, but it doesn’t mean that the relationship has in any way broken down.”

On Christmas Day, a Cook Islands-flagged vessel carrying Russian oil was seized by Finnish authorities. It is suspected to be part of Russia’s shadow fleet and cutting underwater power cables in the Baltic Sea near Finland.

Peters’ spokesperson said the Cook Islands shipping registry was an area of disagreement between the two countries.

Brown said the government was working with Maritime Cook Islands and were committed with aligning with international sanctions against Russia.

When asked how he could be aligned with sanctions when the Cook Islands flagged the tanker Eagle S, Brown said it was still under investigation.

“We will wait for the outcomes of that investigation, and if it means the amendments and changes, which I expect it will, to how the ship’s registry operates then we will certainly look to make those amendments and those changes.”

This article is republished under a community partnership agreement with RNZ.

MIL OSI Analysis – EveningReport.nz –

February 9, 2025
MIL-OSI Global: US sovereign wealth fund: A feasible idea to invest strategically, or a giant opportunity for waste?

Source: The Conversation – USA – By Patrick J. Schena, Professor of Practice and International Business, Tufts University

U.S. President Donald Trump signs an executive order to create a U.S. sovereign wealth fund on Feb. 3, 2025 Jim Watson/AFP via Getty Images

Could the United States soon be joining the likes of Norway, Kuwait and Mongolia in having a national reserve to invest on projects of strategic interest? If President Donald Trump gets his way, then perhaps so.

On Feb. 3, 2025, Trump issued an executive order calling for the creation of a U.S. sovereign wealth fund.

This was not entirely unexpected. After all, the idea had been floated in September 2024 not only by the Trump team, but also by President Joe Biden’s Treasury Department.

Many at the time, including myself, deemed it far-fetched at best. But with the initiative now gaining traction, the time is certainly ripe to imagine what a U.S. sovereign wealth fund might look like.

What is a sovereign wealth fund?

In their most basic form, sovereign wealth funds are pools of government savings, usually accumulated over many years through the sale of commodities, traded goods, government-owned companies and land-use rights, among other sources.

They share a variety of objectives, such as stabilizing government finances, ensuring the funding of retirement or education programs, saving for future generations or even managing state-owned corporations.

They generally diversify investment across assets, geographies and sectors, including some, such as sports and entertainment in the case of Saudi Arabia, that are aligned with national development goals.

Sovereign wealth funds are usually associated with great wealth – Norway’s “oil fund” is estimated to be worth US$1.7 trillion. With regard to scale, Norway is hardly alone. And Norway’s fund is typical in another respect: sovereign wealth funds are often based in smaller countries with outsized natural resources, like Kuwait, the United Arab Emirates and Qatar, or even tiny Guyana in the Caribbean.

In reality, most sovereign wealth funds are more modest in size relative to their gross domestic products.

How long have SWFs been around?

Sovereign wealth funds are hardly new. The so-called modern era of sovereign wealth funds dates to the early 1950s with the creation of the Kuwait Investment Board.

But some government investment funds, such as the Texas Permanent School Fund, established in 1854, long predate the Kuwait Investment Board.

As is evident in the case of Texas, there are many such funds already operating in the U.S., including those in Alaska, New Mexico and Wyoming – all of which identify as “sovereign wealth funds.” These, of course, are state funds, but the term “sovereign” is generously applied.

Sovereign wealth funds often invest outside of their geographies, not only to diversify returns but to avoid stimulating higher inflation that may result from investing at home.

In fact, the U.S. has benefited from investments by other countries’ sovereign wealth funds. Developed market economies like the U.S. are attractive destinations for investment, given the relative strength of their institutions and the scale and liquidity of their financial markets.

Still, over the last decade there has been a rapid expansion in the number of sovereign wealth funds investing domestically, particularly in support of strategic national goals. Some of these include funds in Ireland, India and Indonesia.

Their investment programs target critical sectors and national “champions,” with a goal to mobilize foreign capital for co-investment in local markets.

Soccer superstar Cristiano Ronaldo plays for Al-Nassr, in which Saudi Arabia’s Public Investment Fund has a controlling stake.
Abdullah Ahmed/Getty Images

The fundamental questions of a fund

What could a U.S. sovereign wealth fund look like? Would it be well funded? And if so, how? Through taxes, treasury bond proceeds, budget transfers, tariffs?

Would it invest globally or domestically? Could it be used to reinforce the Social Security system? Will it be used to tackle the dual deficits of budget and trade? Or will it have a strategic mandate – to enhance national security, energy security or climate security?

These are all fundamental questions that must be carefully examined; creating a sovereign wealth fund should not be a backroom exercise. It needs to be conducted openly, with expert input and public deliberation.

The process belies even more challenging organizational and governance decisions concerning the legal structure, ownership and management of the fund, the independence of its governing board, and its distance from government influence in its decisions.

After all, the history of sovereign wealth funds is not without failed attempts. Take Malaysia’s 1MDB, which was usurped for political and personal gain and became a multibillion-dollar corruption scandal, or Venezuela’s macrostabilization and development funds, which were both effectively exhausted.

In these cases – and others – the breakdown can be connected to failures in governance, both in design and culture, and ultimately traced back to politics.

Where does the US start?

It is interesting to note that it was George W. Bush’s Treasury Department during the financial crisis in 2008 that was most influential in encouraging sovereign wealth funds to define a framework of governance practices and principles.

Known as the Santiago Principles, this set of 24 precepts, agreed to in 2008, are intended to ensure transparent and sound governance with adequate operational controls, risk management and accountability.

To be successful and in line with the Santiago Principles, a U.S. sovereign wealth fund would have to be grounded in a functional governance structure that allows investment projects to be evaluated based on commercial merit.

It would also need to be free of political interference and operate openly, transparently and at arm’s length from any personal or professional interests of any related parties.

Where would it invest?

The next thing to consider is the fund’s investment objectives and strategy. Trump has suggested that such a fund could be used to buy TikTok. But would that represent a strategic investment that advances the national competitiveness of the U.S.?

Perhaps instead, a sovereign wealth fund might be better placed investing a majority of its capital in private markets and core infrastructure in the U.S. under a focused strategic mandate that directs money to key national priorities.

Essential here is for the fund to be “additional.” That is to say it would invest in projects that other investors would not be able to finance on their own due to scale, difficulty or duration. In essence, the fund would “crowd in” investors, rather than crowding them out.

And what about funding?

Perhaps the most critical question still remains: Where will the money come from?

Increased taxes are a nonstarter due to political will and, of course, Trump’s campaign commitments.

Treasury bond issuances would only increase U.S. debtedness and likely lead to higher inflation. Allocations from the government’s own budget also seem to be a non-starter, as U.S. budget deficits have long been well-entrenched.

The president has suggested that a fund could use tariff payments – but the reality of the tariff rollout is itself questionable and apparently open to negotiation.

Malaysia’s 1MDB financed the Tun Razak Exchange tower, the tallest building in Kuala Lumpur, Malaysia. But it was also the source of the biggest corruption scandal in Malaysian history.
Ore Huiying/Getty Images

A more practical option may be a take on the traditional private equity limited partnership. In this model, the U.S. serves as general partner and joins other institutional investors – including other sovereign wealth funds – to invest in the fund.

As general partner, the U.S. would appoint a management team that would select and manage the investments – for a fee, of course. Its mandate would be to target strong market returns, while advancing the strategic national interests of the U.S.

The National Investment and Infrastructure Fund in India is one such example. This approach would require a smaller initial capital commitment from the U.S. and give the manager discretion over where and how to deploy capital. Needless to say, the call for strong foundational governance is reinforced under such a plan.

To be clear: The challenges, constraints and risks of launching a U.S. sovereign wealth fund are orders of magnitude greater than similar endeavors in Guyana or Suriname.

Imagining the creation of a fund is certainly feasible. But ensuring the fund will genuinely enhance the intergenerational welfare of all Americans may still be far-fetched.

Patrick J. Schena has not in the last 4 years received grant funding to support his research. He collaborates in areas of mutual research interests with the International Forum of Sovereign Wealth Funds for which he receives no compensation.

– ref. US sovereign wealth fund: A feasible idea to invest strategically, or a giant opportunity for waste? – https://theconversation.com/us-sovereign-wealth-fund-a-feasible-idea-to-invest-strategically-or-a-giant-opportunity-for-waste-249005

MIL OSI – Global Reports –

February 9, 2025

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What is a sovereign wealth fund?

How long have SWFs been around?

The fundamental questions of a fund

Where does the US start?

Where would it invest?

And what about funding?

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MoU with FoundIt to Bring 10 lakh Job Opportunities Annually on NCS portal: Dr. Mandaviya

India to Inaugurate EFTA Desk to Enhance Trade and Investment under TEPA

Business Roundtable to Witness Participation from Over 100 Companies from India and EFTA Nations