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Category: Trade

  • MIL-OSI Africa: Transformation Fund to drive inclusive economic growth

    Source: South Africa News Agency

    Deputy President Paul Mashatile has lauded the launch of the Transformation Fund as a significant step towards inclusive economic growth and transformation in South Africa.

    The Deputy President was delivering a keynote address at a Business Breakfast Session and launch of the Transformation Fund at the Freedom Park Heritage Site and Museum in Pretoria on Monday. 

    “Today is an important and historic day for South Africa as it marks a key milestone in our journey towards economic transformation. We fully welcome the launch of the Transformation Fund, as it will serve as a strategic vehicle for businesses to embrace change, foster innovation, and drive growth. 

    “This fund will serve as a catalyst for financial support, guiding organisations through crucial transitions and enabling them to seize new opportunities that arise in the market,” the Deputy President said. 

    The Transformation Fund, which brings together both public and private sector contributions, aims to unlock the potential of Enterprise and Supplier Development (ESD) and the Equity Equivalent Investment Programme, with a strong emphasis on economic inclusion and participation by historically disadvantaged communities.

    “As enterprises seek improved access to capital and the need to remain competitive in this dynamic environment, I believe that the Transformation Fund will be invaluable. The proposed Transformation Fund will unleash Enterprise and Supplier Development’s (ESD’s) potency in driving economic inclusion and participation,” Deputy President Mashatile said. 

    He emphasised the centrality of the initiative within government’s economic agenda.

    “We are going to make sure that the Transformation Fund is at the centre of government, specifically the Presidency,” he said, adding that they will work with the Minister of Trade, Industry and Competition Parks Tau as well as key Economic Cluster Ministers to ensure that targets are met, especially in the procurement of goods and services.

    He noted that the National Treasury and Department of Women, Youth, and People with Disabilities have already collaborated to develop a framework. The focus now is to ensure speedy execution and equally implement the Preferential Procurement Policy Framework Act. 

    The Deputy President moved to recognise the involvement of the private sector in co-funding the initiative. 

    “It is commendable that the fund is anchored by private and public sector contributions to the Enterprise Supplier Development and Equity Equivalent Investment Programme obligations,” he said. 

    The centralised administration of the fund in partnership with business will help increase access to funding, especially for black-owned businesses operating in rural and township settings.

    “Funding will be allocated to various productive sectors of the economy, which includes, among others, services industry, tourism, and agriculture, thereby supporting majority black-owned entities. Technical support and market access will be prioritised to ensure sustainability through inclusive interventions,” he said. 

    The Deputy President underlined the long-term benefits of the fund, noting that it would foster resilience and adaptability in the face of economic challenges.

    Investing in a Transformation Fund signifies a commitment to progress and a dedication to long-term sustainability. “It will enable businesses to navigate challenges with resilience, adjust in response to changing dynamics, and establish themselves as adaptive leaders in their respective industries,” he said.

    Fighting corruption key to an inclusive economy

    The Deputy President made it clear that economic transformation cannot be achieved without tackling the scourge of corruption in both the public and private sectors.

    Corruption undermines small businesses by increasing costs, reducing profits, and creating instability.

    “To promote an inclusive economy, we must commit to addressing corruption by strengthening our institutions, fostering transparency and accountability, and promoting citizen engagement.

    “This includes developing and implementing robust anti-corruption frameworks, strengthening our criminal justice system, and encouraging public participation and oversight,” he said. 

    Access to finance for black businesses

    The Deputy President further stressed the need to find solutions pertaining to access to finance for Black businesses. 

    He emphasised that it was important to recognise that the funding deficits in South Africa are a contributing factor to the failure of small businesses. 

    Despite government intervention, such as Enterprise and Supplier Development, which is a critical component of the B-BBEE framework, he said there was still a need for additional measures to be taken to expand fund access to SMMEs. 

    “Loans are the most common financial instrument for micro, small, and medium-sized enterprises in South Africa, but they often have stringent underwriting standards, making them difficult for smaller businesses with limited collateral and financial records to secure. 

    “This is why we encourage small businesses seeking financial assistance to explore government funding programmes, and business support agencies such as the National Empowerment Fund, Small Enterprise Finance Agency and the Small Enterprise Development Agency,” the Deputy President said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Russia: Record Number of Overseas Buyers Attend 137th Guangzhou Fair

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    GUANGZHOU, May 5 (Xinhua) — The 137th China Import and Export Fair (Guangzhou or Canton Fair) concluded Monday in Guangzhou, capital of southern China’s Guangdong Province. More than 288,000 overseas buyers attended the event, according to organizers.

    This is an increase of 17.3 percent over the previous year and a new historical record. 171,750 buyers visited the fair for the first time. The number of buyers from countries participating in the Belt and Road Initiative reached 187,450, an increase of 17.4 percent over the previous year, accounting for 64.9 percent of the total number of overseas buyers.

    The fair also attracted more than 527,000 online buyers from 229 countries and regions around the world.

    A total of 4.55 million exhibits were displayed, including 1.02 million new products, 880 thousand green and low-carbon products, and 320 thousand smart products.

    The first-ever service robotics zone became the highlight of the fair, with 46 Chinese manufacturers exhibiting more than 500 cutting-edge robots covering 60 industrial applications.

    Established in 1957, the Guangzhou Fair is held twice a year. It is the longest-running comprehensive international trade event in China and serves as an important indicator of China’s foreign trade situation. –0–

    MIL OSI Russia News –

  • MIL-OSI USA: Washington joins states suing to stop dismantling federal Health and Human Services

    Source: Washington State News

    SEATTLE — Attorney General Nick Brown today joined 18 attorneys general in filing a lawsuit against Secretary Robert F. Kennedy Jr., the U.S. Department of Health and Human Services (HHS), and other Trump administration officials to stop the dismantling of HHS.

    Since taking office, Kennedy and the Trump administration have fired thousands of federal health workers, shuttered vital programs, and abandoned states to face mounting health crises without federal support. The attorneys general argue that Secretary Kennedy and the Trump administration have robbed HHS of the resources necessary to effectively serve the American people.

    “These actions are both plainly illegal and a moral failing. More Americans will suffer from illness, injury, and death without these commonsense programs,” Brown said. “A robust public health system that serves communities with the most barriers to appropriate medical care is vital.”

    The administration has wreaked havoc across the entire health system through their reckless and illegal cuts. Among the examples are

    • Miners suffering from black lung disease have been left unprotected as congressionally mandated surveillance programs were abruptly shut down.
    • Workers have lost reliable access N95 masks following the closure of the nation’s only federal mask approval laboratory.
    • Key Centers for Disease Control and Prevention (CDC) infectious disease laboratories have been shuttered, including those responsible for testing and tracking measles, effectively halting the federal government’s ability to monitor the disease nationwide.
    • Hundreds of employees working on mental health and addiction treatment, including half of the entire workforce at the Substance Abuse and Mental Health Services Administration (SAMHSA), have lost their jobs, and all SAMHSA regional offices are now closed.
    • Pregnant women and newborns are now at risk after the firing of the entire CDC maternal health team and Head Start centers could face closures after many regional employees at the Office of Head Start were let go.
    • The World Trade Center Health Program (WTCHP), which provides life-saving care to more than 137,000 9/11 first responders and survivors, has lost the doctors needed to certify new cancer diagnoses, leaving American heroes without access to the health care they deserve.

    These sweeping actions are in clear violation of hundreds of federal statutes and regulations. The administration is disregarding the constitutional separation of powers and undermining the laws and budgets enacted by Congress to protect public health.

    The coalition is urging the court to halt the mass firings, reverse the illegal reorganization, and restore the critical health services that millions of Americans depend on.

    In April, Brown joined a coalition of 23 attorneys general in filing a lawsuit against Secretary Kennedy and the Trump administration for abruptly and unlawfully slashing billions of dollars in vital state health funding. Days later, a federal judge issued a temporary restraining order against the Administration, temporarily reinstating the funding.

    Joining Washington in this lawsuit – led by Brown, New York Attorney General Letitia James, and Rhode Island Attorney General Peter Neronha – are the attorneys general of Arizona, California, Connecticut, Delaware, Hawai’i, Illinois, Maine, Michigan, Maryland, Minnesota, New Jersey, New Mexico, Oregon, Vermont, and Wisconsin.

    A copy of the complaint is available here.

    -30-

    Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties.

    Visit www.atg.wa.gov to learn more.

    Media Contact:

    Email: press@atg.wa.gov

    Phone: (360) 753-2727

    General contacts: Click here

    Media Resource Guide & Attorney General’s Office FAQ

    MIL OSI USA News –

  • MIL-OSI Banking: ICC leadership joins B20 South Africa task forces 

    Source: International Chamber of Commerce

    Headline: ICC leadership joins B20 South Africa task forces 

    Bolstering ICC’s engagement as an official B20 Network Partner, ICC representatives will lend expertise and leadership to co-chair the following B20 task forces: 

    Co-Chair, Finance and Infrastructure  
    John W.H. Denton AO, ICC Secretary General,   

    Industrial Transformation and Innovation  
    Shinta Kamdani, ICC Executive Board Vice-Chair, and Marjorie Yang, ICC Executive Board Member   

    Digital Transformation  
    Karan Bilimoria, Chair, ICC United Kingdom 

    The B20 is the official platform for the international business community to support the work of the G20 process. Since 2010, when the B20 was established, ICC has played a consistent and leading role in shaping the process, providing policy leadership and expertise, amplifying outcomes and supporting continuity, most recently as an official B20 Network Partner. 

    This year’s G20 Presidency is held by South Africa, marking the first time it has been led by an African nation. The B20 is hosted by Business Unity South Africa (BUSA).  

    The B20 Secretariat has convened the following eight task forces: 

    • Employment & Education 
    • Trade & Investment 
    • Energy Mix & Just Transition 
    • Digital Transformation 
    • Integrity & Compliance 
    • Finance & Infrastructure 
    • Sustainable Food Systems & Agriculture 
    • Industrial Transformation & Innovation. 

    Each of the eight task forces is chaired by a business leader from Africa and will produce a series of policy recommendations in line with the B20’s theme of Inclusive Growth and Prosperity through Global Cooperation. 

    Highlighting the unique agency of South Africa’s G20 Presidency and how ICC is working to support its success, ICC Secretary General John W.H. Denton AO, who participated in the B20 South Africa launch in Cape Town in February 2025, said: 

    “The G20 process in South Africa represents a unique opportunity to revitalise multilateralism in the current context. At ICC we are honoured to be B20 Network Partners once again, supporting all eight of the Task Forces this year. We look forward to working closely with the Secretariat to ensure the private sector is positioned as a true partner to these important discussions, leveraging our global network and policy insights.”  

    In addition to task force co-leadership roles, ICC B20 support includes the participation of 19 members of the ICC leadership across the eight task forces, policy support from the ICC Global Policy department, and network support from the ICC Agri-Food Initiative.

    MIL OSI Global Banks –

  • MIL-OSI: Coface : Coface records a good start to the year with net income of €62.1m, for an RoATE of 12.7%

    Source: GlobeNewswire (MIL-OSI)

    Coface records a good start to the year with net income of €62.1m, for an RoATE of 12.7%

    Paris, 5 May 2025 – 17.35

    • Turnover: €473m, up 2.0% at constant FX and perimeter
      • Trade credit insurance revenue up 1.2%; client activity also increased by 1.2%
      • Client retention back up at near-record (95.0%); pricing remained negative (-1.3%) in line with historical trends
      • Business information growing again double-digit (+14.7% at constant FX, +18.4% at current FX). Debt collection up +14.8%; factoring was down slightly by -0.7%
    • Net loss ratio at 39.1%, up by 3.3 ppts; net combined ratio at 68.7%, up by 5.6 ppts and stable compared to Q4-24
      • Gross loss ratio at 38.7%, up by 5.5 ppts with higher opening year reserving and reserve releases stable at a high level year on year
      • Net cost ratio increased 2.2 ppts to 29.5%, reflecting continued investments partially offset by better product mix
    • Net income (group share) at €62.1m, down by -9.2% compared to Q1-24
    • Annualised RoATE1at 12.7%

    Unless otherwise indicated, change comparisons refer to the results as at 31 March 2024

    Xavier Durand, Coface’s Chief Executive Officer, commented:
    “With a net income of €62.1m and an RoATE of 12.7%, Coface posted another quarter of solid results in a highly volatile environment. Shifting US policy on international trade is creating a high level of uncertainty, although its potential consequences are not yet visible. In this complicated environment for corporates, Coface remains very close to its clients and is maintaining a highly preventative stance in its risk portfolio which is well diversified across regions and sectors.
    In the medium term, depending on their actual implementation and level, the announced tariffs may have a negative impact on global trade volumes. We may also see prices increase in the United States and an adverse impact on certain industrial sectors and regions, likely leading to higher numbers of business failures.
    Thanks to its leading infrastructure, the quality of its information and its teams of internationally recognised experts, Coface is well positioned to support its clients in managing their risks.
    Against this backdrop, our strategy to invest in better understanding short-term risks and in the strengthening of our range of services (Business Information, Debt Collection) is more relevant than ever and resolutely pursued.”

    Key figures at 31 March 2025

    The Board of Directors of COFACE SA examined the summary consolidated financial statements for the first three months (non-audited) during its meeting on 5 May 2025. The Audit Committee at its meeting on 2 May 2025 also previously reviewed them.

    Income statement items in €m Q1-24 Q1-25 Variation % ex. FX*
    Insurance revenue 378.6 382.9 +1.1% +1.2%
    Other revenue 85.0 90.3 +6.2% +5.5%
    REVENUE 463.7 473.2 +2.1% +2.0%
    UNDERWRITING INCOME/LOSS AFTER REINSURANCE 100.3 85.4 (14.9)% (15.4)%
    Investment income, net of management expenses, excluding finance costs 17.9 10.4 (42.0)% (44.2)%
    Insurance Finance Expenses (11.4) (4.1) (63.6)% (61.6)%
    CURRENT OPERATING INCOME 106.8 91.6 (14.2)% (15.3)%
    Other operating income / expenses (0.1) (0.4) +438.8% +439.8%
    OPERATING INCOME 106.8 91.2 (14.5)% (15.6)%
    NET INCOME (GROUP SHARE) 68.4 62.1 (9.2)% (10.5)%
             
    Key ratios Q1-24 Q1-25 Variation
    Loss ratio net of reinsurance 35.8% 39.1% 3.4 ppts
    Cost ratio net of reinsurance 27.3% 29.5% 2.2 ppts
    COMBINED RATIO NET OF REINSURANCE 63.1% 68.7% 5.6 ppts
             
    Balance sheet items in €m 2024 Q1-25 Variation
    Total equity (group share) 2,193.6 2,234.0 +1.8%

    * Also excludes scope impact

    1.   Turnover

    Coface recorded consolidated turnover of €473.2m, up +2.0% at constant FX and perimeter compared to Q1-24. As reported (at current FX and perimeter), turnover rose +2.1%.

    Revenues from insurance activities (including Bonding and Single Risk) increased by +1.2% at constant FX and perimeter. Client retention returned to a level close to its record high at 95.0% in a still competitive market. New business totalled €37m, stable compared with Q1-24. This was driven by an increase in demand and growth investments, particularly in the mid-market segment.

    Growth in client activity was positive at 1.2%, marking a further improvement compared to the already positive previous quarter. However, this level reflects the economic environment that prevailed before the tariff announcements by the United States. The price effect remained negative at -1.3% in Q1-25, in line with last year and long-term trends.

    Turnover from non-insurance activities was up +7.5% compared to Q1-24. However, not all business lines enjoyed the same momentum. Factoring turnover fell by -0.7%, with Germany and Poland recording identical performance. Business Information turnover continued to grow, rising +14.8% (and +18.4% on a reported basis). Fee and commission income (debt collection commissions) increased +14.8% due to the increase in claims to be collected. Commissions were up +4.0%, exceeding growth in premium income.

    Total revenue – in €m
    (by country of invoicing)    		 Q1-24 Q1-25 Variation % ex. FX2
    Northern Europe 97.8 97.0 (0.8)% (0.8)%
    Western Europe 91.7 96.0 +4.7% +1.9%
    Central & Eastern Europe 45.1 42.3 (6.3)% (6.9)%
    Mediterranean & Africa 138.9 143.4 +3.2% +5.1%
    North America 42.6 43.5 +2.0% +1.5%
    Latin America 18.6 20.4 +9.7% +16.0%
    Asia-Pacific 28.9 30.7 +6.2% +2.7%
    Total Group 463.7 473.2 +2.1% +2.0%

    In Northern Europe, turnover was down by -0.8% at constant and current FX. The region continues to suffer from the weakness of the German economy. This slight decline was partially offset by growth in non-insurance activities. Factoring turnover was down -0.7% but services were up +17.8%.

    In Western Europe, turnover increased +1.9% at constant FX (+4.7% at current FX). The loss of several significant contracts was more than offset by growth in service activities.

    In Central and Eastern Europe, turnover fell -6.9% at constant FX (-6.3% at current FX) due to client activity, which continued to drag down credit insurance, and a significant contract that is now included in another region.

    In the Mediterranean and Africa region, which is driven by Italy and Spain, turnover rose +5.1% at constant FX and +3.2% at current FX on the back of robust sales in credit insurance and services and a generally stronger economic environment.

    In North America, turnover rose by +1.5% at constant FX and +2.0% on a reported basis. The region benefited from a slight improvement in client activity and higher retention.

    In Latin America, turnover increased +16.0% at constant FX and +9.7% at current FX. The region is benefiting from continued high inflation, which is benefiting client activity.

    In Asia-Pacific, turnover increased +2.7% at constant FX and +6.2% at current FX. The region is benefiting from high retention and a slight increase in client activity.

    2.   Result

    • Combined ratio

    The combined ratio net of reinsurance stood at 68.7% for Q1-25, an increase of 5.6 ppts year on year but flat compared to the previous quarter.

    (i)  Loss ratio

    The gross loss ratio stood at 38.7%, up 5.5 ppts compared to the previous year. This increase reflects the normalisation of the loss experience offset by high but stable reserve releases compared to the previous year. The number of mid-sized claims was below long-term trends but is increasing.

    The Group’s provisioning policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, remained in line with the historical average. Strict management of past claims enabled the Group to record 43.6 ppts of recoveries.

    The net loss ratio increased to 39.1%, up 3.3 ppts compared to Q1-24, with reinsurance absorbing part of the deterioration in the gross loss ratio.

    (ii)  Cost ratio

    Coface is pursuing a strict cost management policy while maintaining its investments, in line with the Power the Core strategic plan. In Q1-25, costs rose by +5.7% at constant FX and perimeter, and +5.9% at current FX.

    The cost ratio net of reinsurance was 29.5% in Q1-25, up 2.2 ppts year on year. This increase was mainly due to cost inflation (+1.4 ppt) and continued investment (+2.9 ppts). In contrast, the improved product mix (Business Information, Debt Collection and fee and commission income) had a positive effect of 2.6 ppts. The change in reinsurance commissions explains most of the remainder.

    • Financial result

    Net financial income was €10.4m in the first quarter. This amount includes an FX effect of -€12.4m, mostly due to the application of IAS 29 (Hyperinflation) mainly in Turkey for €4.5m.

    The portfolio’s current yield (i.e. excluding capital gains, depreciation and FX) was €24.9m. The accounting yield3, excluding capital gains and fair value effect, was 0.7% in Q1-25. The yield on new investments was 3.8%.

    Insurance Finance Expenses (IFE) stood at €4.1m for the first quarter. Outside of FX gains, the amount is very similar to that of previous quarters.

    • Operating income and net income

    Operating income amounted to €91.2m in Q1-25, down 14.5%.

    The effective tax rate was 23% for the quarter (vs. 27% in Q1-24).

    In total, net income (group share) was €62.1m, down 9.2% compared to the first quarter of 2024.

    3.   Shareholders’ equity

    At 31 March 2025, Group shareholders’ equity stood at €2,234.0m, up €40.4m or +1.8% (€2,193.6m at 31 December 2024).

    This increase is mainly due to positive net income of €62.1m and an FX effect.

    The annualised return on average tangible equity (RoATE) was 12.7% at 31 March 2025, down from the previous year, in line with the decline in net income.

    4.   Outlook

    Uncertainty about international economic policy is reaching a rarely seen levels. The United States announced the implementation of massive tariffs which vary depending on industrial sector and the imports’ country of origin. Implementation has been delayed in most cases to allow time for negotiations.

    Estimates of the long-term impact will have to wait until the tariffs actually implemented are more stable. In the short term, this uncertainty is delaying investment decisions and detracting from economic growth.

    This unprecedented complex environment validates the strategy and positioning adopted by Coface, which draws on its internationally recognised experts and industry leading data to support its clients as effectively as possible as the situation evolves. In the short term, Coface has stepped up communication with its clients and maintained its prevention actions at a high level, while continuing to invest in line with the Power the Core strategic plan. The workforce dedicated to services (Business Information and Debt Collection) currently stands at nearly 700 people.

    Conference call for financial analysts

    Coface’s Q1-2025 results will be discussed with financial analysts during the conference call on Monday 5 May at 18:00 (Paris time). Dial one of the following numbers:

    The presentation will be available (in English only) at the following address:
    http://www.coface.com/Investors/financial-results-and-reports

    Appendices

    Quarterly results

    Income statement items in €m
    Quarterly figures    		 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25   % %
    ex. FX*
    Insurance revenue 378.6 375.6 375.9 382.7 382.9   +1.1% +1.2%
    Other revenue 85.0 83.4 78.0 85.5 90.3   +6.2% +5.5%
    REVENUE 463.7 459.1 453.8 468.3 473.2   +2.1% +2.0%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 100.3 94.7 88.8 84.9 85.4   (14.9)% (15.4)%
    Investment income, net of management expenses, excluding finance costs 17.9 22.8 19.0 31.9 10.4   (42.0)% (44.2)%
    Insurance Finance Expenses (11.4) (6.7) (7.3) (17.1) (4.1)   (63.6)% (61.6)%
    CURRENT OPERATING INCOME 106.8 110.9 100.5 99.7 91.6   (14.2)% (15.3)%
    Other operating income / expenses (0.1) (0.5) (2.6) (5.5) (0.4)   438.8% 439.8%
    OPERATING INCOME 106.8 110.4 97.9 94.2 91.2   (14.5)% (15.6)%
    NET INCOME (GROUP SHARE) 68.4 73.8 65.4 53.4 62.1   (9.2)% (10.5)%
    Income tax rate 27.2% 26.8% 25.5% 36.2% 23.0%   (4.2) ppt

    Cumulated results

    Income statement items in €m
    Cumulated figures    		 Q1-24 H1-24 9M-24 2024 Q1-25   % %
    ex. FX*
    Insurance revenue 378.6 754.3 1,130.2 1,512.9 382.9   +1.1% +1.2%
    Other revenue 85.0 168.5 246.4 331.9 90.3   +6.2% +5.5%
    REVENUE 463.7 922.7 1,376.6 1,844.8 473.2   +2.1% +2.0%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 100.3 195.0 283.8 368.7 85.4   (14.9)% (15.4)%
    Investment income, net of management expenses, excluding finance costs 17.9 40.8 59.8 91.7 10.4   (42.0)% (44.2)%
    Insurance Finance Expenses (11.4) (18.1) (25.4) (42.5) (4.1)   (63.6)% (61.6)%
    CURRENT OPERATING INCOME 106.8 217.7 318.2 417.9 91.6   (14.2)% (15.3)%
    Other operating income / expenses (0.1) (0.5) (3.1) (8.6) (0.4)   438.8% 439.8%
    OPERATING INCOME 106.8 217.2 315.1 409.2 91.2   (14.5)% (15.6)%
    NET INCOME (GROUP SHARE) 68.4 142.3 207.7 261.1 62.1   (9.2)% (10.5)%
    Income tax rate 27.2% 27.0% 26.5% 28.7% 23.0%   (4.2) ppt  

    * Also excludes scope impact

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2024 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

    Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is quoted in Compartment A of Euronext Paris
    Code ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2024 Universal Registration Document filed with AMF on 5 April 2024 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    1 Return on average tangible equity
    2 Also excludes scope impact
    3 Book yield calculated on the average of the investment portfolio excluding non-consolidated subsidiaries.

    Attachment

    The MIL Network –

  • MIL-OSI: BexBack Launches High-Leverage Crypto Trading With No KYC, Double Deposit Bonus, and $50 Welcome Bonus

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, May 05, 2025 (GLOBE NEWSWIRE) — As the cryptocurrency market reaches new levels of global adoption, BexBack, a fast-growing digital asset derivatives exchange, is redefining the future of leveraged trading. The platform now offers up to 100x leverage, no KYC requirement, a 100% deposit bonus, and a $50 welcome bonus to empower traders across the world.

    Launched in May 2024 and headquartered in Singapore, BexBack has quickly attracted over 500,000 users across more than 200 countries, with strong adoption in the United States, Canada, and Europe. Its commitment to transparency, security, and performance has positioned it as one of the most promising platforms in the crypto derivatives space.

    “We believe trading should be fast, secure, and accessible to everyone,” said Amanda, Business Manager at BexBack. “By removing entry barriers like KYC and providing strong financial incentives, we’re helping users seize market opportunities without compromise.”

    Key Features of BexBack:

    • No KYC Required: Users can start trading instantly while maintaining privacy.
    • 100x Leverage: Maximize capital efficiency across BTC, ETH, ADA, SOL, XRP and 50+ other crypto futures.
    • $50 Welcome Bonus: Earned after a deposit of at least 0.001 BTC or 100 USDT and completing the first trade.
    • 100% Deposit Bonus: Double your trading capital up to 10 BTC; bonus usable as margin
    • Zero Deposit Fees: Move funds without friction.
    • Advanced Security: Protected by multi-signature cold wallets, distributed servers, and DDoS prevention.
    • Regulatory Compliance: BexBack is a registered MSB under U.S. FinCEN, ensuring a compliant trading environment.
    • Global Access & 24/7 Support: Available to traders worldwide with round-the-clock assistance.

    Driving the Future of Crypto Trading

    BexBack’s mission is to democratize access to high-performance trading tools and provide a level playing field for retail traders. The platform offers a demo account with 10 BTC and 1M USDT in virtual funds, ideal for beginners to gain experience before committing real capital.

    As global economic uncertainty and market volatility continue, leveraged futures have become a critical strategy for traders seeking greater flexibility and profit potential. BexBack meets this demand with institutional-grade tools designed for all skill levels.

    Start Trading Today

    Traders interested in joining the BexBack community can sign up at www.bexback.com, make their first deposit, and begin trading with up to 100x leverage—no KYC, no barriers.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

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    The MIL Network –

  • MIL-OSI: Fastest Payout Online Casinos: JACKBIT Picked as the Top Paying Casino 2025

    Source: GlobeNewswire (MIL-OSI)

    BINGHAMTON, N.Y., May 05, 2025 (GLOBE NEWSWIRE) — After spending time exploring different online casinos, we quickly realized that many just didn’t meet expectations. The bonuses felt small, the game selections were limited, and the overall experience wasn’t very memorable. Then we discovered JACKBIT, and it changed everything. From the moment we signed up, it impressed us with a generous welcome bonus, lightning-fast crypto payments, and a vast array of games.

    The platform was intuitive, and everything flowed smoothly. JACKBIT truly shines as one of the fastest payout online casinos, offering instant withdrawal capabilities that distinguish it among instant withdrawal casinos.

    ✅JOIN THE BEST ONLINE CASINO: JACKBIT

    Our Top Pick: Why JACKBIT Leads The Pack

    In the dynamic world of online gambling, JACKBIT stands out as our favorite for 2025, particularly as the fastest payout online casino. Its seamless integration of cryptocurrency transactions ensures not only speed but also enhanced privacy and security.

    With over 6,000 games, a comprehensive sportsbook, and a no KYC policy for crypto users, JACKBIT caters to both casual players and seasoned gamblers. Its user-centric design and innovative features make it a benchmark for what modern online casinos should be, especially for those prioritizing quick payouts.

    JACKBIT Casino Features: A Closer Look

    JACKBIT offers a robust set of features that solidify its position as the fastest payout online casino. Here’s what you can expect:

    • Welcome Bonuses: 30% Rakeback bonus and 100 wager-free spins to enjoy your winnings instantly.
    • Expansive Game Library: Boasting over 6,000 titles from 90+ providers like NetEnt, Microgaming, and Evolution Gaming, JACKBIT covers slots, table games, live dealers, and sports betting.
    • Cryptocurrency Payments: Supports 16+ cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Tether, ensuring fast and secure transactions.
    • No KYC for Crypto Users: Enhances privacy by skipping extensive verification for cryptocurrency transactions, a major draw for privacy-conscious players.
    • Instant Withdrawals: As the fastest payout online casino, JACKBIT processes crypto withdrawals in minutes, often instantly.
    • Mobile-Friendly Design: The platform is optimized for seamless use on desktops, smartphones, and tablets, offering flexibility for on-the-go gaming.
    • Sportsbook: A comprehensive sportsbook covers major sports, esports, and virtual sports, with competitive odds and live betting options.

    ✅UNLOCK 100 FREE SPINS AND UP TO 30% RAKEBACK – ONLY AT JACKBIT!

    Promotions And Incentives At JACKBIT

    JACKBIT welcomes new players with a 30% Rakeback bonus and 100 free spins upon their initial deposit. The platform keeps the excitement alive with regular promotions, such as weekly $10,000 cash prize draws, 10,000 free spins giveaways, and a loyalty VIP program offering up to 30% Rakeback rewards.

    Additionally, players can participate in the Pragmatic Drops & Wins campaign, featuring a €2,000,000 prize pool for thrilling winning opportunities.

    What Sets JACKBIT Apart From Other Crypto Casinos?

    JACKBIT isn’t just another fast payout online casino; it’s the fastest payout online casino, outpacing competitors with its near-instant crypto withdrawals. Here’s why it excels:

    • Unmatched Payout Speed: While many crypto casinos take hours or days to process withdrawals, JACKBIT delivers funds in minutes, making it a leader among instant withdrawal casinos.
    • Diverse Game Selection: With over 6,000 games, JACKBIT surpasses many competitors, offering everything from classic slots to niche esports betting.
    • Privacy Focus: The no-KYC policy for crypto users ensures anonymity, a feature not all crypto casinos provide.
    • Generous Promotions: The welcome bonus and ongoing promotions, like rakeback and tournaments, come with fair terms, unlike some casinos with restrictive wagering requirements.
    • Sports Betting Integration: Unlike many crypto casinos focused solely on games, JACKBIT’s sportsbook adds versatility, appealing to a broader audience.

    Advantages And Disadvantages Of JACKBIT Casino

    No casino is perfect, and JACKBIT is no exception. Here is a fair assessment of its advantages and disadvantages:

    Aspect Advantages Disadvantages
    Payout Speed Fastest payout online casino with near-instant crypto withdrawals. No dedicated mobile app, though the website is highly responsive
    Game Variety Over 6,000 games, including slots, live dealers, and sports betting.  
    Privacy No KYC for crypto users, enhancing anonymity.  
    Bonuses Generous 100% welcome bonus with 100 free spins and fair terms.  
    Support 24/7 live chat and email support are available.  
    Accessibility Mobile-optimized platform with intuitive design.  
         

    Despite minor drawbacks, JACKBIT’s strengths, particularly as the fastest payout online casino, make it a top contender.

    How We Selected JACKBIT as the Best Fast Paying Online Casino?

    Choosing the best new online casino requires a rigorous evaluation process. We assessed JACKBIT based on the following criteria:

    • License and Security: A valid license and robust security measures, like SSL encryption, ensure player safety.
    • Bonuses and Promotions: Attractive bonuses with reasonable wagering requirements enhance player value.
    • Game Variety: A diverse library from reputable providers caters to all player preferences.
    • Casino Game Providers: Partnerships with top providers like NetEnt and Evolution Gaming guarantee quality.
    • Banking Methods: Support for fast, secure payment options, especially cryptocurrencies, is critical.
    • Customer Support: Responsive and helpful support channels are essential for player satisfaction.
    • User Experience: An intuitive, mobile-friendly interface improves accessibility and enjoyment.

    JACKBIT excelled across these metrics, particularly in payout speed and game variety, securing its place as the fastest payout online casino.

    Why JACKBIT Earned The Title Of The Fastest Payout Online Casino?

    JACKBIT’s designation as the fastest payout online casino stems from several key factors:

    • Lightning-Fast Withdrawals: Cryptocurrency withdrawals are processed in minutes, often instantly, far surpassing competitors’ 24-48 hour timelines.
    • Low or No Fees: Minimal transaction fees for crypto withdrawals maximize player returns.
    • Reliable Processing: Player feedback confirms consistent, hassle-free payouts, though some report occasional verification issues.
    • Competitive Edge: Compared to other fastest payout online casinos, JACKBIT’s combination of speed, privacy, and variety is unmatched.

    These elements make JACKBIT the go-to choice for players seeking instant withdrawal casinos in 2025.

    How To Join JACKBIT?

    Embarking on your gaming adventure with JACKBIT is a seamless and straightforward process designed for ease and speed. Follow this detailed guide to become a member of one of the most efficient payout platforms in the online casino world:

    1. Visit the Website: Open your preferred web browser and visit the JACKBIT Casino website. Once there, locate the prominent “Sign Up” button, typically displayed on the homepage, and click it to initiate the registration process.
    2. Create an Account: You’ll be prompted to fill in a few essential details to create your account. Choose a unique username that reflects your gaming persona, select a strong and secure password, and provide a valid email address. One of JACKBIT’s standout features is its crypto-friendly approach, meaning no Know Your Customer (KYC) verification is necessary for users depositing with cryptocurrencies, ensuring a faster and more private onboarding experience.
    3. Verify Email: After submitting your registration details, JACKBIT will send a confirmation email to the address you provided.
    4. Deposit Funds: Once your account is active, it’s time to add funds to start playing. JACKBIT supports a variety of popular cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and more. Select your preferred digital currency, copy the provided wallet address, and transfer funds from your crypto wallet.
    5. Claim Bonus: During your initial deposit, take advantage of JACKBIT’s enticing welcome offer. By opting in, you can claim a 100% match bonus on your first deposit, effectively doubling your playing funds.
    6. Start Playing: With your account funded and bonus claimed, you’re ready to explore JACKBIT’s extensive offerings.

    Defining Excellence: The Selection Process For Top Fastest Payout Online Casino

    Excellence in online gaming hinges on innovation, variety, trustworthiness, and user experience. JACKBIT embodies these qualities through:

    • Technological Innovation: Leveraging blockchain for secure, fast crypto transactions.
    • Game Diversity: Offering a vast library to suit all player types.
    • Trust and Fairness: Operating under a Curacao license with transparent practices.
    • Player-Centric Design: Providing an intuitive platform for seamless navigation.

    These pillars cement JACKBIT’s status as the fastest payout online casino and a leader in the industry.

    ✅GRAB UP TO 30% RAKEBACK, 10,000 FREE SPINS, AND $10,000 WEEKLY GIVEAWAYS

    Games Offered At JACKBIT

    JACKBIT’s game library, with over 6,000 titles, is a standout feature of this fastest payout online casino.

    Here’s a breakdown:

    Game Category Description Popular Features
    Slots 5,000+ slots, from classic to video and progressive jackpots. “Book of Dead,” “Gold Party,” “Chilli Heat”
    Table Games Variants of blackjack, roulette, baccarat, and poker. Caribbean Stud
    , European roulette
    Live Dealer Games Real-time games with professional dealers, powered by Evolution Gaming. Live blackjack
    Sports Betting Bets on sports like football, basketball, and esports with live options. Competitive odds, in-play betting
    Virtual Sports Simulated sports for instant betting, available 24/7. Football
    Instant Win Games Quick-play games like scratch cards and lotteries. High-multiplier scratch cards
         

    Providers like NetEnt, Play’n GO, and Pragmatic Play ensure top-notch quality and fairness.

    Additional Gaming Features

    JACKBIT enhances the player experience with unique features:

    • VIP Rakeback Club: Rewards loyal players with cashback and exclusive perks.
    • Tournaments: Regular slot and table game tournaments with cash prizes.
    • Progressive Jackpots: Slots like “Mega Moolah” offer life-changing wins.
    • Demo Mode: Try games for free before betting real money.

    These features make JACKBIT a dynamic, fastest payout online casino.

    Payment Options At JACKBIT

    Cryptocurrency Payment Methods:

    JACKBIT prioritizes a cryptocurrency-centric model, offering support for more than 16 digital currencies to ensure rapid, secure, and cost-effective transactions. Below are the key cryptocurrencies available for deposits and withdrawals:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Litecoin (LTC)
    • Tether (USDT)
    • Ripple (XRP)
    • Cardano (ADA)
    • Solana (SOL)
    • Binance Coin (BNB)
    • Dogecoin (DOGE)
    • Dash (DASH)
    • Monero (XMR)
    • Tron (TRX)
    • USD Coin (USDC)
    • Binance USD (BUSD)
    • Shiba Inu (SHIB)
    • Polygon (POL)

    Fiat Payment Methods

    While JACKBIT is heavily focused on cryptocurrencies, it also accommodates users who prefer traditional payment methods for deposits. The following fiat options are supported, offering flexibility for a broader user base:

    • MasterCard
    • Visa
    • American Express
    • Bank Transfer
    • Person-to-Person Transfers
    • Apple Pay
    • Google Pay

    Important Note: While fiat deposits are supported, withdrawals via fiat methods (such as Visa or MasterCard) may take 3-5 business days to process, contrasting with near-instantaneous crypto withdrawals. Users depositing with fiat will need to convert their balance to a supported cryptocurrency for withdrawal.

    Regulatory Framework Of JACKBIT Casino

    JACKBIT adheres to a robust regulatory framework by operating under a Curacao gaming license, which guarantees adherence to legal standards and promotes fair gaming practices. Although the Curacao jurisdiction is known for its relatively flexible regulations compared to stricter authorities, it offers sufficient oversight to ensure player safety and trust.

    To bolster security, JACKBIT employs advanced SSL encryption technology, protecting sensitive user information and financial transactions from unauthorized access. This commitment to data security, combined with transparent operational policies, underscores the platform’s dedication to providing a reliable and trustworthy environment for its users, solidifying its standing as a leading instant payout online casino.

    Most Popular Payout Methods At JACKBIT

    The most popular payout methods at this fastest-payout online casino are:

    • Bitcoin (BTC): Preferred for speed and global acceptance.
    • Ethereum (ETH): Fast and reliable for crypto enthusiasts.
    • Tether (USDT): Stable value minimizes volatility risks.

    These methods enable instant withdrawals, a hallmark of JACKBIT’s service.

    Responsible Gambling At JACKBIT

    JACKBIT is dedicated to fostering a safe and enjoyable gaming environment by prioritizing responsible gambling. The platform provides a suite of practical tools and resources designed to help players manage their gaming habits effectively, ensuring a balanced and controlled experience at one of the fastest payout online casinos. Below are the key features offered to support responsible play:

    • Deposit Limits: Players can set customizable spending boundaries to maintain financial discipline. Options include daily, weekly, or monthly caps, allowing users to tailor limits to their budgets and prevent overspending.
    • Self-Exclusion Options: For those needing a longer break, JACKBIT offers flexible self-exclusion programs. Players can choose to temporarily suspend their accounts for a set period or opt for permanent closure, providing a safeguard against compulsive gambling.
    • Time-Out Periods: Short-term pauses are available for players seeking a brief respite from gambling. Time-outs enable users to step away from gaming activities for a predefined duration, helping maintain a healthy balance.
    • Access to Support Resources: JACKBIT provides direct access to professional support services, including links to trusted helplines and counseling organizations. These resources offer guidance and assistance for players who may need help managing their gambling behavior.

    By integrating these robust tools and resources, JACKBIT empowers players to enjoy its extensive range of over 6,000 games and sportsbook offerings responsibly, ensuring a secure and sustainable gaming experience.

    Final Thoughts: JACKBIT’s Vision For Gaming Excellence

    JACKBIT will redefine the online gaming landscape in 2025 as the fastest payout online casino, blending cutting-edge cryptocurrency integration with an expansive game library and user-focused design. Its near-instant crypto withdrawals, no-KYC policy for crypto users, and over 6,000 games from top providers create an unparalleled experience for both casual and dedicated players.

    While minor limitations, such as crypto-only withdrawals and the absence of a mobile app, exist, the platform’s strengths—speed, variety, and privacy—position it as a trailblazer in the industry. Whether you’re spinning slots, betting on sports, or chasing progressive jackpots, JACKBIT delivers a secure, dynamic, and rewarding environment that sets a new standard for instant withdrawal casinos.

    ✅JOIN NOW AND CLAIM YOUR SHARE OF MASSIVE REWARDS!

    Frequently Asked Questions

    1. Is JACKBIT a trustworthy online casino?

    JACKBIT is a legitimate platform, operating under a Curacao gaming license, which ensures compliance with industry standards. The casino employs advanced SSL encryption to protect user data, providing a secure environment for players.

    2. What types of payment methods does JACKBIT support?

    JACKBIT accepts a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and over 13 others. For deposits, it also supports fiat options like Visa, MasterCard, Apple Pay, Google Pay, bank transfers, and person-to-person transfers. Withdrawals are exclusively processed via cryptocurrencies.

    3. How quickly can I withdraw my winnings from JACKBIT?

    JACKBIT is renowned for its near-instant cryptocurrency withdrawals, often processed within minutes, making it a standout among instant withdrawal casinos. Fiat withdrawals, where applicable, may take 3-5 business days.

    4. What is the welcome bonus offered by JACKBIT?

    New players can claim a 100% match bonus on their first deposit, up to a specified amount, along with 100 free spins on selected slots. The bonus comes with fair wagering requirements, enhancing its value.

    5. Does JACKBIT have a dedicated mobile app?

    No, JACKBIT does not offer a standalone mobile app. However, its website is fully optimized for mobile devices, providing a seamless and responsive experience on smartphones and tablets.

    Email: support@jackbit.com

    Disclaimer And Affiliate Disclosure

    This article is not intended to provide legal or financial advice; rather, it is meant to be informative only. Gambling carries risks; play responsibly. We may earn commissions from referrals to JACKBIT, but this does not influence our unbiased reviews. Information is based on research available at the time of writing—please verify independently before making decisions.

    Gambling Warning
    Online gambling involves risk and may not suit everyone. Ensure you’re of legal gambling age and comply with local laws. Participation is your responsibility. We are not affiliated with JACKBIT and are not liable for any disputes, losses, or issues that may arise.

    Affiliate Note
    Some links may be affiliate links, meaning we may earn a commission—at no extra cost to you. Our recommendations are unbiased, but we urge you to do your research before signing up.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/144eb2fc-a681-43c2-9550-29e934dcef57

    The MIL Network –

  • MIL-OSI: Best Crypto Casinos 2025: JACKBIT Crowned as the Top Bitcoin Casino with Fast Payout & No KYC Policy

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, May 05, 2025 (GLOBE NEWSWIRE) — We tried several crypto casinos, but many of them didn’t meet expectations. The bonuses were small, the game selection was limited, and the experience wasn’t very enjoyable. Then we came across JACKBIT, which was recommended by local casino players, and it made a real difference. Signing up was simple, the welcome bonus was generous, and crypto payouts were processed quickly. The platform offers a wide variety of games, and everything runs smoothly. JACKBIT truly stands out as one of the best options available.

    ✅JOIN THE CRYPTO CASINO REVOLUTION! PLAY AT JACKBIT!

    JACKBIT’s Overall Features: Why It Stands Out

    JACKBIT’s combination of innovative features and player-focused design makes it a standout among the best crypto casinos. Here’s a detailed look at why it excels:

    • No-KYC Policy: JACKBIT’s commitment to privacy is unmatched, allowing players to sign up and play without submitting personal identification. This anonymity is a major draw for those who value discretion, making it the go-to choice for privacy-conscious gamblers.
    • Extensive Game Selection: With over 7,000 games, JACKBIT surpasses most competitors in variety. From slots and table games to live dealers and a robust sportsbook, the platform caters to every type of player. Its partnerships with 85 top providers ensure high-quality gameplay across all categories.
    • Innovative Bonuses: JACKBIT’s 30% Rakeback and 100 free spins welcome offer, combined with unique promotions like social media bonuses and Pragmatic Drops & Wins, provide more value than standard deposit matches. The VIP program further enhances rewards for loyal players.
    • Payment Versatility: Supporting 17+ cryptocurrencies and fiat options like Apple Pay and Google Pay, JACKBIT offers unmatched flexibility. Instant, fee-free crypto payouts set it apart from competitors with slower withdrawal processes.
    • Comprehensive Sportsbook: Unlike many crypto casinos that focus solely on casino games, JACKBIT’s sportsbook offers 82,000+ live monthly events and 4,500+ betting types, catering to sports betting enthusiasts.
    • Global Accessibility: Multilingual support and a mobile-optimized platform make JACKBIT inclusive for players worldwide, regardless of their location or device.
    • Community Engagement: Through social media bonuses, tournaments, and a vibrant player community, JACKBIT fosters a sense of belonging, setting it apart from less interactive platforms.

    These features collectively position JACKBIT as a leader among the best crypto casinos, delivering a comprehensive, player-centric experience that’s hard to beat. Its ability to balance privacy, variety, and innovation ensures it remains a top choice for both new and seasoned players

    JACKBIT: Redefining Excellence in Crypto Gambling

    Since its debut in 2022, JACKBIT has emerged as a new crypto casino that sets the standard for what players expect from a top-tier platform. Its no-KYC policy, extensive game selection, and innovative bonuses make it a favorite among crypto gamblers globally.

    A Massive Game Library

    JACKBIT’s game catalog is a cornerstone of its appeal, boasting over 7,000 titles from 85 industry-leading providers, including NetEnt, Microgaming, Evolution Gaming, Pragmatic Play, and Betsoft. This diversity ensures there’s something for every type of player:

    • Slots: With over 5,000 options, JACKBIT offers everything from classic fruit machines to modern video slots with cinematic graphics. Popular titles like Gold Party, Chilli Heat, and Wolf Gold deliver high volatility and massive payout potential. The inclusion of 180+ Megaways slots and progressive jackpots adds excitement for thrill-seekers.
    • Table Games: Strategic players can enjoy variants of blackjack (Power Blackjack, Infinite Blackjack), roulette (European, Lightning Roulette), poker (Texas Hold’em, Caribbean Stud), baccarat, and craps. These games cater to both casual players and high rollers.
    • Live Dealer Games: Powered by Evolution Gaming and Pragmatic Play, JACKBIT’s live casino brings the thrill of a physical casino to your screen. Options include live blackjack, roulette, baccarat, and game shows like Dream Catcher and Crazy Time, all with high-definition streaming and professional dealers.
    • Sportsbook: JACKBIT’s sportsbook is a standout, offering bets on 140+ sports, including football, basketball, tennis, cricket, and eSports like Dota 2 and Counter-Strike. With 82,000+ live monthly events and 4,500+ betting types, it’s a haven for sports enthusiasts.
    • Specialty Games: For casual play, JACKBIT provides bingo (Shamrock Bingo), scratch cards, and mini-games like Aviator and Plinko, known for their simplicity and high RTPs.
    • Virtual Sports: Simulated events like virtual football, horse racing, and greyhound racing offer 24/7 betting with realistic graphics and quick results.

    This extensive library ensures JACKBIT ranks among the best crypto casinos for variety and quality, catering to all gaming preferences. The platform’s partnerships with top providers guarantee a premium experience, with regular updates introducing new titles to keep the catalog fresh. For instance, seasonal slots or themed live dealer tables often align with major events, adding a dynamic element to the gaming experience.

    What Defines the Best Crypto Casinos?

    To rank among the best crypto casinos, a platform must excel in several critical areas that ensure a safe, enjoyable, and rewarding experience for players:

    • Game Variety and Quality: A diverse library with slots, table games, live dealer options, and sports betting, all powered by top-tier providers, is essential.
    • Bonuses and Promotions: Generous welcome offers, free spins, cashback, and loyalty programs add significant value to the gaming experience.
    • Payment Flexibility: Support for multiple cryptocurrencies and fiat methods, with fast, secure, and low-fee transactions, is a must.
    • Security and Fairness: Robust encryption, provably fair games, and a valid gambling license build trust and transparency.
    • User Experience: Intuitive design, mobile compatibility, and responsive customer support enhance accessibility.
    • Privacy: No-KYC policies cater to players who prioritize anonymity, making registration quick and discreet.

    JACKBIT embodies these qualities, positioning itself as a leader among the best crypto casinos in 2025.

    Flexible and Fast Payment Options at JACKBIT Casino

    JACKBIT’s payment system is designed for speed and convenience, supporting a wide range of methods:

    • Cryptocurrencies: Over 17 digital currencies are accepted, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Solana (SOL), Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE). Crypto transactions are instant, fee-free, and secure, aligning with JACKBIT’s privacy-first approach.
    • Fiat Methods: Players can deposit using Visa, MasterCard, Google Pay, Apple Pay, and bank transfers. While deposits are instant, fiat withdrawals may take 1-5 days, with crypto withdrawals being the faster option.

    Minimum deposits range from $10-$20 (or crypto equivalent), making JACKBIT accessible to all budgets. High withdrawal limits ($10,000 weekly) cater to high rollers, reinforcing its status as one of the best crypto casinos. The platform’s use of blockchain technology ensures transparency, with transaction records verifiable on public ledgers, adding an extra layer of trust for players.

    Bonuses and Promotions

    JACKBIT welcomes new players with a 30% Rakeback bonus and 100 free spins on their first deposit, setting the tone for a rewarding experience. Ongoing promotions keep players engaged:

    • Weekly Giveaways: $10,000 in cash prizes every week.
    • Free Spins: 10,000 spins distributed regularly.
    • VIP Program: A tiered loyalty system offering up to 30% Rakeback, personalized bonuses, higher withdrawal limits, and dedicated account managers.
    • Social Media Bonuses: Exclusive offers for followers on platforms like Twitter and Telegram.
    • Pragmatic Drops & Wins: A €2,000,000 prize pool for Pragmatic Play games.
    • Tournaments: Regular slot and table game competitions with cash prizes.
    • NBA Playoffs Cashback: Special offers for sports bettors.
    • 3+1 FreeBet: A unique sports betting promotion.

    These promotions provide exceptional value, making JACKBIT a top contender among the best crypto casinos. The VIP program, in particular, is designed to reward consistent play, with higher tiers unlocking exclusive perks like faster withdrawals and tailored promotions. This focus on player retention ensures that both casual and high-stakes players feel valued.

    ✅CLAIM YOUR 30% RAKEBACK BONUS AND 100 FREE SPINS

    Security and Licensing

    JACKBIT operates under a Curacao Gaming License, a common choice for crypto casinos due to its global reach and flexibility. While less stringent than Malta or UKGC licenses, it ensures regular audits for fairness. The platform uses SSL encryption to protect player data and blockchain technology for transparent transactions. Responsible gambling tools, including deposit limits, self-exclusion, and reality checks, promote safe play, solidifying JACKBIT’s reputation as a trustworthy choice among the best crypto casinos.

    The Curacao license, while reputable, is sometimes viewed as less rigorous, but JACKBIT compensates with robust security measures. Regular third-party audits of its Random Number Generators (RNGs) ensure fair outcomes, and the platform’s provably fair games allow players to verify results independently. This commitment to transparency is a key reason JACKBIT is considered one of the best crypto casinos.

    Exceptional User Experience

    JACKBIT’s sleek, dark-themed website is intuitive and easy to navigate, with a responsive design that works seamlessly on desktops, tablets, and smartphones. No dedicated app is needed, as the mobile-optimized site supports all features, from slots to live betting. Customer support is available 24/7 via live chat in multiple languages (English, German, French, Spanish), with email support for complex queries. This player-centric approach makes JACKBIT a leader among the best crypto casinos.

    The mobile experience is particularly noteworthy, with fast load times and smooth gameplay even on older devices. Players can access their accounts, make deposits, and claim bonuses on the go, ensuring flexibility and convenience. The multilingual support further enhances accessibility, catering to a global audience and reinforcing JACKBIT’s position as a top-tier platform.

    Player Testimonials

    Feedback from players on platforms like Trustpilot highlights JACKBIT’s strengths:

    • “The no-KYC signup was a game-changer. I was playing in minutes!” – Alex, UK
    • “The sportsbook is incredible, with so many live events to bet on.” – Maria, Canada
    • “I’ve won big on their slots, and the cashback helps when luck isn’t on my side.” – Raj, India
    • “Customer support is super responsive, even at 2 AM.” – Liam, Australia

    While some players note the Curacao license as a drawback, the overwhelmingly positive feedback underscores JACKBIT’s place among the best crypto casinos. Negative reviews are minimal and often related to individual experiences, with the platform’s support team addressing concerns promptly.

    How to Join JACKBIT Crypto Casino

    • Starting your journey at JACKBIT is quick and hassle-free:
    • Visit JACKBIT and click “Register” in the top-right corner.
    • Enter your email, create a password, and choose a currency (no ID required).
    • Make your first deposit using crypto or fiat methods.
    • Claim the 30% Rakeback and 100 free spins welcome bonus.
    • Dive into the 7,000+ games or sportsbook.

    The process takes under five minutes, making JACKBIT one of the most accessible platforms among the best crypto casinos. Ensure you meet your jurisdiction’s legal gambling age (typically 18 or 19) before signing up. The no-KYC policy eliminates the need for document uploads, allowing players to focus on gaming rather than bureaucracy.

    ✅START WINNING! JOIN JACKBIT FOR TOP CASINO ACTION NOW!

    Why No-KYC Casinos Like JACKBIT Are Revolutionizing Online Gambling in 2025

    No-KYC casinos like JACKBIT offer distinct advantages:

    • Anonymity: Play without sharing personal details, protecting your privacy.
    • Speed: Instant registration and withdrawals, bypassing lengthy verification.
    • Global Access: Available in regions with restrictive gambling laws.
    • Ease of Use: Simplified signup for a hassle-free start.

    However, players should choose licensed platforms like JACKBIT to ensure safety and fairness, reinforcing its status as one of the best crypto casinos. The no-KYC approach is particularly appealing in an era where data privacy concerns are paramount, allowing players to enjoy gambling without worrying about their personal information being compromised.

    The Evolution of Crypto Casinos in 2025

    The crypto casino industry is poised for significant growth in 2025, driven by several trends:

    • Wider Crypto Adoption: As cryptocurrencies gain mainstream acceptance, more players are using them for gambling due to their speed and security.
    • Blockchain Advancements: Decentralized platforms and smart contracts enhance transparency and automate processes like payouts.
    • Regulatory Clarity: Evolving regulations are creating clearer frameworks, balancing player protection with innovation.
    • Global Expansion: Crypto casinos can serve players in restricted regions, expanding their market reach.
    • Technological Innovation: VR, AR, and enhanced mobile experiences are transforming gameplay, offering immersive environments.

    JACKBIT is well-positioned to capitalize on these trends, continuously updating its platform to remain a leader among the best crypto casinos. For example, its integration of blockchain for transaction transparency aligns with the industry’s move toward decentralized systems, while its mobile optimization caters to the growing demand for on-the-go gaming.

    The Impact of Blockchain on Crypto Casinos

    Blockchain technology is a game-changer for the best crypto casinos, offering benefits beyond simple transactions. By recording every bet, win, and payout on a public ledger, blockchain ensures that players can verify the fairness of games independently. JACKBIT leverages this technology to offer provably fair games, where players can check the randomness of outcomes using cryptographic algorithms. This transparency builds trust, especially for skeptical players who may have encountered less reputable platforms in the past.

    Additionally, blockchain enables smart contracts, which automate processes like bonus distribution and payouts. For instance, JACKBIT could use smart contracts to instantly credit Rakeback bonuses based on player activity, reducing manual intervention and errors. As blockchain technology evolves, we can expect best crypto casinos like JACKBIT to introduce even more innovative features, such as tokenized rewards or decentralized jackpots.

    The Rise of Decentralized Gambling Platforms

    Decentralized gambling platforms are an emerging trend in 2025, taking the concept of crypto casinos to the next level. Unlike traditional platforms, decentralized casinos operate on blockchain networks, eliminating the need for a central authority. This ensures greater transparency, as all transactions and game outcomes are recorded on the blockchain. While JACKBIT currently operates as a centralized platform, its use of blockchain for transactions and provably fair games positions it as a forward-thinking player in this space.

    Decentralized platforms also offer enhanced privacy, as they often require minimal personal information. JACKBIT’s no-KYC policy aligns with this ethos, making it a natural fit for players interested in decentralized gambling. As the industry evolves, we may see JACKBIT explore fully decentralized models, further cementing its place among the best crypto casinos.

    The Role of Cryptocurrencies in Global Accessibility

    One of the most significant advantages of crypto casinos is their ability to serve players in regions where traditional online gambling is restricted. Cryptocurrencies bypass traditional banking systems, allowing players from countries with strict regulations to participate. JACKBIT’s support for 17+ cryptocurrencies makes it accessible to a global audience, from North America to Asia and beyond.

    This global reach is particularly important in 2025, as more players seek alternatives to fiat-based casinos. By offering instant, fee-free crypto transactions, JACKBIT ensures that players can deposit and withdraw funds without delays or currency conversion fees. This accessibility is a key reason why JACKBIT is considered one of the best crypto casinos for international players.

    Additional Features That Set JACKBIT Apart

    JACKBIT offers unique features that enhance its appeal:

    • Tournaments: Regular slot and table game competitions with cash prizes and free spins add a competitive edge.
    • Demo Mode: Players can try games for free, perfect for testing strategies without risk.
    • Multi-Language Support: Games and support in English, German, French, Spanish, and more cater to a global audience.
    • Progressive Jackpots: Slots like Mega Moolah offer life-changing payouts.
    • Community Engagement: Social media bonuses and tournaments foster a vibrant player community.

    These features make JACKBIT a dynamic and engaging platform, solidifying its place among the best crypto casinos. The demo mode, in particular, is a boon for new players, allowing them to familiarize themselves with games before wagering real money. Meanwhile, tournaments create a sense of camaraderie, with leaderboards showcasing top performers and encouraging friendly competition.

    Community and Social Engagement

    JACKBIT’s commitment to community engagement sets it apart from many competitors. Through active social media presence on platforms like Twitter and Telegram, the casino offers exclusive bonuses and keeps players informed about new games and promotions. These social media bonuses, such as free spins or deposit matches, reward players for engaging with the brand, creating a sense of loyalty.

    The platform also hosts regular tournaments that bring players together, whether they’re competing for cash prizes in slot races or climbing the leaderboard in live dealer challenges. Player reviews on sites like AskGamblers highlight the excitement of these events, with many praising JACKBIT’s ability to foster a vibrant community. This focus on engagement is a hallmark of the best crypto casinos, as it enhances the overall player experience.

    The Importance of Mobile Gaming

    In 2025, mobile gaming is a critical component of the online casino experience, with more players accessing platforms via smartphones and tablets. JACKBIT’s mobile-optimized platform is a standout, offering seamless gameplay without the need for a dedicated app. Whether you’re spinning slots on a commute or placing live bets during a match, the mobile site delivers fast load times and intuitive navigation.

    The mobile platform supports all features, including deposits, withdrawals, and bonus claims, ensuring that players have full access to JACKBIT’s offerings on the go. This commitment to mobile excellence is a key reason why JACKBIT is ranked among the best crypto casinos, as it caters to the modern player’s need for flexibility and convenience.

    Responsible Gambling at JACKBIT

    JACKBIT prioritizes player well-being with robust responsible gambling tools:

    • Deposit Limits: Set daily, weekly, or monthly caps to control spending.
    • Self-Exclusion: Temporarily or permanently suspend your account.
    • Reality Checks: Periodic reminders of playtime and spending.
    • Support Resources: Links to organizations like GamCare and Gambling Therapy.

    These measures ensure JACKBIT remains a safe and enjoyable platform, aligning with the standards of the best crypto casinos. The platform’s proactive approach to responsible gambling reflects its commitment to player welfare, ensuring that gaming remains a fun and controlled activity.

    Why JACKBIT Excels in Sports Betting

    JACKBIT’s sportsbook is a major draw, offering:

    • Extensive Coverage: 140+ sports, including niche options like table tennis and eSports.
    • Live Betting: 82,000+ monthly events with real-time odds and streaming for select matches.
    • Betting Variety: 4,500+ options, from moneylines to prop bets.
    • Competitive Odds: Regularly updated to maximize value.

    This comprehensive sportsbook makes JACKBIT a top choice for sports enthusiasts among the best crypto casinos. The live betting feature, in particular, adds excitement, allowing players to place wagers as events unfold. The availability of streaming for select matches enhances the experience, making JACKBIT a one-stop shop for sports betting.

    The Growing Popularity of eSports Betting

    eSports betting is a rapidly growing segment of the online gambling industry, and JACKBIT is at the forefront of this trend. With betting options for popular titles like Dota 2, Counter-Strike, and League of Legends, the platform caters to a younger demographic of gamers-turned-bettors. The sportsbook’s eSports section includes live events, pre-match betting, and competitive odds, making it a favorite among fans.

    The rise of eSports betting reflects the broader shift toward digital entertainment, with millions of viewers tuning into tournaments worldwide. JACKBIT’s inclusion of eSports in its sportsbook demonstrates its adaptability, ensuring it remains a leader among the best crypto casinos in 2025.

    The Role of Software Providers

    JACKBIT’s partnerships with top providers ensure high-quality gameplay:

    • NetEnt: Known for visually stunning slots like Starburst.
    • Microgaming: Offers iconic titles like Mega Moolah.
    • Evolution Gaming: Powers the live casino with professional dealers.
    • Pragmatic Play: Delivers engaging slots and Drops & Wins promotions.
    • Betsoft: Provides 3D slots with cinematic appeal.

    These collaborations guarantee a premium gaming experience, reinforcing JACKBIT’s status as one of the best crypto casinos. The diversity of providers ensures a wide range of game styles, from high-volatility slots to low-stakes table games, catering to all player preferences.

    The Impact of Live Dealer Games

    Live dealer games have become a staple of the best crypto casinos, offering an authentic casino experience from the comfort of home. JACKBIT’s live casino, powered by Evolution Gaming and Pragmatic Play, features a variety of tables with different betting limits, ensuring accessibility for both casual players and high rollers. The real-time interaction with dealers and other players adds a social element, making live games a highlight of the platform.

    Popular live dealer games at JACKBIT include Immersive Roulette, Lightning Blackjack, and No Commission Baccarat, each offering unique features like multipliers or side bets. The high-definition streaming and professional dealers create an immersive environment, rivaling the experience of a land-based casino. This focus on live gaming is a key reason why JACKBIT is considered one of the best crypto casinos.

    ✅YOUR JACKPOT JOURNEY BEGINS HERE – TRY JACKBIT NOW

    JACKBIT – The Best Crypto Casinos in 2025

    JACKBIT is the undisputed leader among the best crypto casinos in 2025, offering an unrivaled combination of privacy, game variety, and rewards. Its no-KYC policy, 7,000+ games, and innovative bonuses make it the ultimate destination for crypto gamblers.

    Whether you’re spinning slots, betting on sports, or chasing jackpots, JACKBIT delivers a world-class experience. Join today at JACKBIT and discover why it’s the top choice for online gaming in 2025.

    Frequently Asked Questions

    1. What makes a crypto casino different from a traditional one?

    A: Crypto casinos use digital currencies for transactions, offering faster payouts, lower fees, and greater privacy. JACKBIT, one of the best crypto casinos, exemplifies this with its no-KYC policy and 17+ crypto options.

    2. Why is JACKBIT considered the top crypto casino in 2025?

    A: It’s a no-KYC approach, 7,000+ games, 30% Rakeback, and an extensive sportsbook make JACKBIT a standout among the best crypto casinos.

    3. How does JACKBIT ensure player privacy?

    A: By skipping KYC requirements, JACKBIT allows anonymous play while using SSL encryption and blockchain for security.

    4. Can beginners easily navigate JACKBIT?

    A: Yes, its intuitive interface and demo mode make it beginner-friendly, earning it a spot among the best crypto casinos.

    5. How does JACKBIT promote fair play?

    A: Provably fair algorithms and a Curacao Gaming License ensure unbiased outcomes.

    6. What support options are available at JACKBIT?

    A: 24/7 live chat in multiple languages and email support ensure quick resolutions.

    7. How does JACKBIT’s VIP program work?

    A: Players earn points through wagers, unlocking up to 30% Rakeback, exclusive bonuses, and priority support.

    EMAIL: support@JACKBIT.com

    Disclaimers

    General Disclaimer: This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews. Verify information before acting.

    Casino and Gambling Disclaimer: Online gambling carries risks and isn’t suitable for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your own risk. JACKBIT is a third-party platform, and we’re not liable for losses or disputes.

    Affiliate Disclosure: This article may include affiliate links, earning us a commission at no cost to you for qualifying actions. These support our content. Our reviews are unbiased, and we recommend only valuable products. Conduct your own research before signing up.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d1b781cf-797f-41a8-b047-adf4bc057049

    The MIL Network –

  • MIL-OSI Banking: Energy Trades Coalition Supports House Natural Resources Provisions in Budget Reconciliation

    Source: Independent Petroleum Association of America

    Headline: Energy Trades Coalition Supports House Natural Resources Provisions in Budget Reconciliation

    May 2, 2025 Energy Trades Coalition Supports House Natural Resources Provisions in Budget Reconciliation

    Posted at 11:06h in Letters and Comments by

    We write to you today as a coalition of oil and natural gas trade associations representing over 80% of domestic production in the United States to express our strong support for the budget reconciliation provisions currently under consideration by the House Natural Resources Committee. We stand ready to offer our full assistance in fulfilling President Donald J. Trump’s goals to unleash American energy and strengthen the economic future of the United States.

    We strongly agree with the President that the success of the American economy and the prosperity of its citizens depend on the ability of our members to prudently access and develop the abundant energy resources with which our nation has been so generously blessed.

    The budget reconciliation provisions under consideration are critical to advancing this shared goal. Our coalition advocated tirelessly during the Biden Administration for a return to regularly held federal lease sales, common-sense permitting reform, and unleashing American resources. These provisions, included in the House Natural Resources bill text will increase domestic energy production allowing for affordable and reliable energy to all Americans. …

    Continue Reading

    MIL OSI Global Banks –

  • MIL-OSI: Heelstone Renewable Energy, a Qualitas Energy company, acquires renewable development portfolio from Valor Infrastructure Partners (“VIP”) and appoints new CEO

    Source: GlobeNewswire (MIL-OSI)

    • The transaction includes the acquisition of VIP’s portfolio of greenfield solar and onshore wind projects located in the Southwest and Western regions of the United States
    • Mike Weich, former CEO of VIP, will assume the role of CEO at Heelstone Renewable Energy (“Heelstone”)
    • This acquisition represents another milestone in Heelstone’s strategic expansion into a fully integrated renewable energy independent power producer (IPP)

    DURHAM, N.C., May 05, 2025 (GLOBE NEWSWIRE) — Heelstone Renewable Energy (“Heelstone”), a premier U.S. utility-scale renewable energy platform, has acquired the wind and solar development assets and the team of Valor Infrastructure Partners (“VIP”), a renewable energy company based in Palm Beach, Florida. This transaction marks Heelstone’s first acquisition since its purchase in May 2024 by Qualitas Energy, a leading global investment and management platform with a dual focus on both funding and developing renewable energy, energy transition, and sustainable infrastructure.

    The acquired portfolio of development-stage projects includes a number of early-stage onshore wind projects in the Western region of the country, as well as an advanced-stage solar PV project in Texas, which has an expected installed capacity of 190 MWp and a targeted commercial operation date (COD) between 2027 and 2028, subject to development progress.

    As part of the transaction, eleven experienced professionals from VIP will join Heelstone’s team, bringing deep expertise across onshore renewables—including solar, wind, and battery storage. Among them are Mike Weich, former CEO of VIP, who will assume the role of CEO at Heelstone, and Daryl Hart, former Chief Development Officer of VIP, who will take on same role at Heelstone.

    Heelstone, headquartered in Durham, North Carolina, now comprises around 60 professionals whose capabilities span the full lifecycle of renewable energy projects. The team brings a robust understanding of the U.S. market landscape, backed by extensive experience in project execution.

    With a portfolio of over 5 GW and a track record that has been built over more than a decade, Heelstone continues to grow as a premier renewable energy development platform. Under the ownership of Qualitas Energy, the company is evolving into a fully integrated IPP and reinforcing its intention to become a market leader in developing, de-risking, and executing renewable energy projects. This acquisition marks a significant step forward in that objective, as it will expand the company’s capabilities, technology focus, and geographic reach.

    Alejandro Ciruelos, Partner and Country Head USA at Qualitas Energy said: “Heelstone’s resilient business model and solid fundamentals provide a strong foundation for long-term growth. The integration of VIP’s team and select assets enhances our platform, combining best-in-class capabilities with a maturing project pipeline. With this strengthened position, Heelstone is ready to capitalise on strategic opportunities—both organically and through acquisitions—at a pivotal moment for the renewable energy industry, where high-quality execution is key to success.”

    Mike Weich, CEO at Heelstone Renewable Energy, added: “I’m honored to lead Heelstone at such an exciting time for the company. With the support of Qualitas Energy and the addition of the VIP team, we’re well-equipped to expand our footprint and accelerate the delivery of high-quality renewable energy projects. Together, we’re building a stronger, more agile platform ready to meet the growing demand for clean energy across the U.S.”

    About Heelstone Renewable Energy
    Heelstone Renewable Energy, LLC (Heelstone) is a leading solar and storage independent power producer with expertise in development, construction, and operation. Based in Durham, North Carolina, Heelstone has extensive knowledge of project finance and a proven track record from over a decade in bringing utility-scale solar projects to fruition. Heelstone continues to add to its development pipeline and operating portfolio as it expands its presence in markets across the United States. For more information, visit www.heelstoneenergy.com.

    About Qualitas Energy
    Qualitas Energy is a leading global investment and management platform with a dual focus on both funding and developing renewable energy, energy transition, and sustainable infrastructure.

    Since 2006, the Qualitas Energy team has managed investments of over €14 billion in renewable energies worldwide. These investments have been deployed through five vehicles: Fotowatio / FRV, Vela Energy, Qualitas Energy III, Qualitas Energy IV, and Qualitas Energy V.

    Qualitas Energy’s existing portfolio currently comprises over 11 GW of operating and development energy assets across Spain, Germany, the UK, Italy, Poland, Chile, and the United States. This includes 7 GWp of solar PV, 4 GW of wind energy, 242 MW of concentrated solar power (CSP), 136 MW of battery storage, 66 MW of hydroelectric power, and 1.9 TWh of biomethane.

    Qualitas Energy has produced enough energy to supply 1.2 million homes and has successfully avoided the emission of 1 million metric tonnes of CO2 equivalent since 2022.

    The Qualitas Energy team is composed of more than 540 professionals across fifteen offices in Madrid, Berlin, London, Milan, Hamburg, Wiesbaden, Trier, Cologne, Stuttgart, Warsaw, Wroclaw, Santiago, Durham, Bristol, and Edinburgh.

    Please visit qualitasenergy.com for further information.

    Media contacts
    Henar Hernández
    Global Head of Communications
    henar.hernandez@qenergy.com
    +34 697 11 68 72

    Headland qualitas@headlandconsultancy.com +44 7435 546304 | +44 7311 369929

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b408bdd9-6bd6-41fb-8e09-4615cffe2648

    The MIL Network –

  • MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu Attended the Annual Dinner of ABSC

    Source: Republic of China Taiwan

    《Taiwan – Australia Economic Ties Field of Opportunity》
    Director General David Cheng-Wei Wu and Mrs Wu were pleased to join the annual dinner of Australian Business Summit Council (ABSC), and they appreciated the invitation by its President, Dr. Frank Alafaci.
    D.G. Wu received an honorary token at the ceremony to officially launch #EKONOMOS (Issue 6, 2025), in the article D.G. Wu contributed, he highlighted:
    1. Taiwan will strengthen national defence

    , improve economic security, enhance partnerships with democratic countries, and stablise the cross-strait leadership. Those “Four Pillars of Peace” are our action plan to maintain status quo. We adopt “Integrated Diplomacy” as our foreign policy, which encompasses Value Diplomacy, Alliance Diplomacy, and Economic Diplomacy.
    2. Taiwan, from its status of the world’s 22nd-largest economy and 16th-largest exporter, will due develop the Five Trusted Industry Sectors – namely, semiconductors, security and surveillance, next-generation communications, Artificial Intelligence (Al), and military. In the meanwhile, Taiwan will seek to achieve net-zero emissions by 2050., via investments on green energy and recycling technologies.
    3. Taiwan and Australia share a mutually complementary trade structure, with bilateral trade reaching US$23.4 billion in 2023. Australia is Taiwan’s 8th largest trading partner and biggest source of coal and iron ore imports. As Australia has had the experience of falling victim to China’s economic coercion, the challenges of risks followed by geopolitical instability makes Taiwan a valuable partner to Australia.
    4. Taiwan’s membership application to CPTPP deserves careful consideration and support. Taiwan is an indispensable partner in global supply chains and remains committed to collaborating with Australia and its partners to safeguard democracy, shared values, and the rules-based international order in the region. Taiwan is ready to pursue FTA negotiations with Australia. We urge Australia’s further support for Taiwan’s bid.

    MIL OSI Asia Pacific News –

  • MIL-OSI Video: WTO Public Forum 2025: Enhance, create, and preserve

    Source: World Trade Organization – WTO (video statements)

    We stand at a critical moment to reflect on and harness the transformative powers of digital trade. The 2025 Public Forum will explore how digital advancements are redefining standards within the international trading system and enhancing global connectivity, innovation, and cooperation.

    Download this video from the WTO website:
    https://www.wto.org/english/res_e/webcas_e/webcas_e.htm

    https://www.youtube.com/watch?v=SyvGosR5D_I

    MIL OSI Video –

  • MIL-OSI Russia: In the first quarter of 2025, 60.2 percent more fresh fruits and vegetables were exported through the Khorgos checkpoint

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    URUMQI, May 5 (Xinhua) — The volume of fruits and vegetables exported through the Horgos port on the China-Kazakhstan border in northwest China’s Xinjiang Uygur Autonomous Region has grown rapidly since the beginning of this year.

    According to Khorgos Customs, 179 thousand tons of fruits and vegetables were exported through the Khorgos checkpoint in the first three months of this year, which is 60.2 percent more year-on-year. The main importers of fruit and vegetable products were Kazakhstan, Uzbekistan and Russia.

    “This year, our company has exported a huge batch of potatoes, especially to Uzbekistan and Kyrgyzstan,” said Yu Chengzhong, chairman of the board of Horgos Jinyi International Trade (Group) Co., Ltd.

    In order to reduce the time and costs of customs clearance of goods, the Khorgos checkpoint constantly optimizes the overall customs clearance process, closely coordinating its actions with the relevant authorities, ensuring the preservation of the freshness of exported fruits and vegetables.

    According to the representative of the Khorgos Customs, Yang Qiang, a special channel has been set up at the customs, thanks to which timely registration, inspection and dispatch of batches of fruits and vegetables as they arrive at the customs point is carried out, which in turn guarantees the preservation of maximum freshness of the products.

    Let us recall that Khorgos is located near the border with Kazakhstan and is the country’s first-class land port with the longest history and the largest total volume of transportation in the western region of China. Today, 87 international railway freight routes pass through Khorgos, connecting 18 countries. -0-

    MIL OSI Russia News –

  • MIL-OSI USA: Why California usually pays more at the pump for gasoline

    Source: US Energy Information Administration

    In-brief analysis

    May 5, 2025

    Data source: AAA

    Retail prices for regular grade gasoline in California are consistently higher than in any other state in the continental United States, often exceeding the national average by more than a dollar per gallon. Several factors contribute to this high price, including state taxes and fees, environmental requirements, special fuel requirements, and isolated petroleum markets.

    Taxes and fees
    The components of retail gasoline prices are taxes and fees, distribution and marketing, refining costs, and crude oil prices. Drivers in California pay the highest taxes at the pump, equivalent to $0.90 per gallon (gal) between local, state, and federal taxes as of March 2025.

    Federal taxes—which are the same for each state—account for $0.18 of the $0.90/gal in taxes. The other $0.72/gal is made up of state excise tax ($0.60/gal), state sales tax ($0.10/gal), and an underground storage tank fee ($0.02/gal). California’s state gasoline excise tax is the highest in the United States; the average across all states is $0.28/gal.

    Environmental requirements
    In addition to state taxes, the California Energy Commission estimates that environmental compliance costs added as much as $0.54/gal as of March 2025. The state’s Cap-and-Trade Program and Low Carbon Fuel Standard reflect costs associated with fuel supplier emissions and carbon intensity, and these costs are ultimately reflected in the price consumers pay at the pump.

    Special fuel requirements
    California also mandates a special blend of gasoline designed to reduce pollution and improve air quality. This fuel burns cleaner but is more expensive to produce because it requires more processing steps and expensive blending components.

    Refiners outside the state only make this blend to supply California’s market, meaning that California primarily relies on in-state refineries for its gasoline supply.

    Isolated petroleum markets
    Supply side issues also contribute to higher California gasoline prices relative to the rest of the country.

    Most of the gasoline consumed in California is refined within the state due to lack of petroleum infrastructure connections. California is geographically isolated from other U.S. refining centers because no pipelines supply California from across the Rocky Mountains and only a limited number of pipelines deliver to the West Coast from the Gulf Coast. Of the refineries outside of California with physical access to the state’s gasoline markets, only a few can meet California’s stringent fuel blending requirements.

    California also imports gasoline from other countries, such as India and South Korea, to meet its fuel supply needs. Other countries produce California-specification gasoline, but high shipping costs usually limit imports to periods of refinery outages or the summer driving season.

    In addition, West Coast refineries have historically maintained lower inventory levels compared with the U.S. average, and California refineries have been closing, with more closures on the horizon. All of these supply chain issues mean that California gasoline prices are more volatile and subject to large spikes, especially if any of the limited number of refineries go offline for maintenance or have an unexpected outage.

    Principal contributors: Anne Miranda, Tara Bennett-Chirico

    MIL OSI USA News –

  • MIL-OSI Economics: [Testimonials] Positive Impact of Samsung Innovation Campus on WSU Students

    Source: Samsung

    In today’s digital age, traditional qualifications alone are no longer sufficient to meet the demands of the local economy – practical skills, problem-solving abilities and technological fluency are now also essential to develop work-ready job seekers and entrepreneurs with in-demand skills needed by the local economy.
     
    In response to this need, Samsung has – over the years through its corporate social responsibility (CSR) initiatives such as the global Samsung Innovation Campus (SIC) – collaborated with esteemed academic institutions such as the Walter Sisulu University (WSU). This strategic partnership was formed in an effort to bridge the gap between traditional education and the demand for skills training tailored specifically for the current job market that requires modern tech expertise.
     
    Importantly, Samsung recognises how essential SIC is in driving economic growth and technological advancement in South Africa and the continent as a whole. This partnership with WSU therefore, aims to provide ICT education to students from underserved communities in the Eastern Cape. This global SIC programme is designed to provide practical, cutting-edge training in digital skills and has since inception, also trained participants on a range of soft skills to foster talented youth who will go on to shape the future society. This SIC programme is a forward-thinking initiative that seeks to continue addressing the evolving demands of the modern workforce.
     
    These are some of the reasons why Samsung has remained dedicated to making a long-term social impact by investing in education, youth skills training and technological innovation. Over the years, the company has invested in youth development and workforce skills training by equipping students with in-demand digital skills needed by the local economy.
    Along with core competencies such as artificial intelligence (AI) as well as Coding and Programming (C&P) training in Python – SIC has been providing progressive knowledge to students ensuring that they are both academically qualified and industry work-ready.
     
    These high-demand skills are positioning the country’s youth for careers in technology-driven sectors and entrepreneurship. The institution is making these incredible strides because it has long recognised that the Fourth Industrial Revolution (4IR) is reshaping education, work and daily life. WSU has now also ensured that technology is integrated into its teaching, research and student development initiatives. Importantly, the university has now made sure that digital transformation has become a strategic priority, by establishing an AI Centre that will serve as a hub for advanced digital skills training, research and innovation.
    For Samsung’s CSR initiatives, measurable impact on the country’s youth including young women has always been essential. This SIC programme has now touched the lives of about 71 young people at WSU – a combination of both males and females. With this programme, WSU students have now been prepared for careers in technology by creating both employment and entrepreneurial opportunities that will help them make a positive impact on society. For this reason, Samsung spoke to some alumni students about their experience in the programme and this, is what they had to say:
     
    A graduate and an alumni from the WSU-SIC programme who is originally from Lusikisiki, Atsho Nota has a diploma in Application Development studies which she believes has given her a strong foundation in technology and problem-solving.

    Atsho has always been passionate about technology and how it can be used to improve people’s lives. She added that this programme has made a significant difference in her personal and professional growth.
     
    “It has given me the opportunity to develop hands-on technical skills”, she explained: “I’ve now gained industry experience and it has improved my confidence in working with advanced technology. Also, the practical training has enhanced my problem-solving abilities significantly and prepared me for real-world challenges in the tech industry,” she added. Atsho’s future plans include advancing her career in the tech industry, possibly specialising in software development. She hopes to use her skills to contribute to innovative solutions and maybe even start her own business in the future. Atsho also wants to continue learning and growing in the field of technology to stay updated with industry advancements.
     
    Another impressive alumni student from the SIC programme is Lazola Leonardo Mbangata, who is currently running his own start-up company called Xero Technologies, while also pursuing a postgraduate degree – majoring in Software development. Born and raised in Butterworth, this young man has various certifications in data science and cyber security. For Lazola, this SIC programme has played a crucial role in his career and advancement in IT.
     

     
    He believes that studying Python and AI has advanced his development skills and enhanced his projects for automation and usability – thus bringing him one step closer to his future goal of AI security. “I decided to sign up for the programme because of my interest in AI and Python because I believed that this would grow my mind and understanding in the field, he said. “Also, working with a big company like Samsung was potentially an opportunity for crucial doors to be opened for me.”
     
    What Lazola found most interesting during the SIC lessons is the diversity in IT and the opportunity to not only build software but also to deal with software management and publishing. These skills that Lazola acquired have ensured that his business is on track for success. What is still a bit of a challenge is finding local clients, however he’s still quite determined and very optimistic.
     
    For Samsung, this partnership with WSU exemplifies the kind of university-industry collaboration that has ensured that together, they can continue training the leaders of tomorrow to use AI tools and other innovative technology platforms to effectively maximise the benefits of these new and exciting emerging technologies in their future careers.
    These testimonies are proof that this SIC initiative not only enhances individual career prospects, but also contributes significantly to building a group of resilient and future-ready workforce as well as technology entrepreneurs. Samsung’s efforts underscore its broader commitment to technological innovation and sustainable community development in the country.
     
    Sinethemba Mpambane, DVC: Institutional Support and Development at WSU said: “In a country that is facing significant youth unemployment, this SIC curriculum is a game-changer as it offers students direct access to opportunities in AI, software development and digital solutions, while also fostering innovation and problem-solving. As WSU, we are now looking forward to strengthening our collaboration with Samsung, expanding these programmes and continuing to empower students with future-ready skills.”
     

     
    Mpambane added that all these WSU-driven initiatives will complement this SIC programme by providing a platform for students and industry partners to engage in cutting-edge AI-driven projects. For WSU – the impact of this SIC programme is clear. Graduates are leaving with more than just certificates; they possess tangible, in-demand skills that enhance their employability and entrepreneurial potential.
     
    And furthermore, WSU in partnership with Samsung is committed to shaping the next generation of African technology leaders. This institution is seeking to become an impactful, technology-infused African university that remains relevant in today’s digital world, while preparing its students for the future. The SIC programme is but one of the ways of ensuring that WSU achieves its vision for the future.

    MIL OSI Economics –

  • MIL-OSI: iBio’s First-in-Class Activin E Antibody Achieves >26% Fat Reduction Without Muscle Loss and Shows Synergy with GLP-1s in Preclinical Model

    Source: GlobeNewswire (MIL-OSI)

    • Activin E antibody demonstrates significant decrease in fat in obese mice by reducing visceral fat depots, which are strongly linked to increased risk of cardiovascular and metabolic diseases, resulting in a 26% reduction in fat mass with no loss in muscle
    • Strong synergistic effect on fat mass (77% reduction) was observed when the Activin E antibody was combined with a GLP-1 receptor agonist, resulting in total weight loss of 35.3%, 7.5% greater than GLP-1 alone

    SAN DIEGO, May 05, 2025 (GLOBE NEWSWIRE) — iBio, Inc. (Nasdaq: IBIO), an AI-driven innovator of precision antibody therapies, today announced new promising preclinical data for its first-in-class Activin E antibody unveiled in January. Data from the recently completed 4-week study in diet-induced obese mice show a 26% reduction in fat mass following treatment with the Activin E antibody, with muscle mass fully preserved. These findings highlight a significant fat loss can be achieved without the double-digit weight reductions typically required by other obesity drugs.

    GLP-1 receptor agonists are effective at promoting weight loss. However, they can also reduce lean body mass, including muscle, which may limit some of the intended health benefits. In contrast, fat-specific weight loss is considered a higher-quality form of weight loss. It reduces fat—linked to lower risk of heart and metabolic diseases—while preserving muscle, which helps maintain strength, supports a healthy metabolism, and may prevent or reduce weight regain over time.

    “We believe achieving high-quality weight loss, by reducing fat mass while preserving muscle, is essential in addressing the obesity epidemic,” said Martin Brenner, DVM, PhD, Chief Executive Officer and Chief Scientific Officer of iBio. “For example, a person with a BMI of 30 is classified as obese and often has a body fat percentage exceeding 25%. Reducing fat by 25% while maintaining muscle mass and strength could shift them into a healthier weight category without compromising physical function.”

    The study also analyzed specific fat depots in obese mice and found a significant 31% reduction in subcutaneous fat. More notably, reductions of 34% and 37% were observed in the epididymal and retroperitoneal fat depots, respectively—both of which are forms of visceral fat closely linked to increased risk of cardiometabolic disease. When combined with a GLP-1 receptor agonist, the Activin E antibody produced additive effects, reducing total fat mass by 77%. Subcutaneous fat loss increased to 74%, while visceral fat depots—epididymal and retroperitoneal—were reduced by 69% and 81%, respectively. The data was presented at the 14th International BMP Conference that occurred May 2–6 in Philadelphia, Pennsylvania.

    About iBio, Inc.

    iBio (Nasdaq: IBIO) is a cutting-edge biotech company leveraging AI and advanced computational biology to develop next-generation biopharmaceuticals for cardiometabolic diseases, obesity, cancer and other hard-to-treat diseases. By combining proprietary 3D modeling with innovative drug discovery platforms, iBio is creating a pipeline of breakthrough antibody treatments to address significant unmet medical needs. Our mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine.  For more information, visit www.ibioinc.com or follow us on LinkedIn.

    Forward-Looking Statements

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the therapeutic potential of Activin E as a target for cardiometabolic disorders and obesity; Activin E being a promising novel therapeutic target whose inhibition is believed to induce fat-selective weight loss and offer protection against obesity and cardiometabolic disease; plans to rapidly advance testing of the antibody in more complex models; the in-licensed antibody being the first functional inhibitor of Activin E; inhibiting Activin E-mediated signaling offering a novel therapeutic strategy to reduce internal abdominal fat while preserving muscle mass potentially reversing obesity, preventing diabetes, and improving overall cardiometabolic health. As one of several cellular components involved in cardiometabolic regulation; Activin E, along with amylin, GLP-1 and others, having the potential to be targeted simultaneously to yield synergistic benefits for patients; and the antibody having the potential to deliver meaningful benefits to patients. While iBio believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of Activin E to be a successful target for cardiometabolic disorders and obesity and iBio’s antibody to induce fat-selective weight loss and offer protection against obesity and cardiometabolic disease; iBio’s ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to iBio’s ability to promote or commercialize its product candidates for specific indications; acceptance of iBio’s product candidates in the marketplace and the successful development, marketing or sale of products; and whether iBio will incur unforeseen expenses or liabilities or other market factors; and the other factors discussed in iBio’s filings with the SEC including its Annual Report on Form 10-K for the year ended June 30, 2024 and its subsequent filings with the SEC on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and iBio undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Corporate Contact:
    iBio, Inc.
    Investor Relations
    ir@ibioinc.com

    Media Contacts:
    Ignacio Guerrero-Ros, Ph.D., or David Schull
    Russo Partners, LLC
    Ignacio.guerrero-ros@russopartnersllc.com
    David.schull@russopartnersllc.com
    (858) 717-2310 or (646) 942-5604

    The MIL Network –

  • MIL-OSI Europe: AMENDMENTS 297-298 – REPORT on the proposal for a regulation of the European Parliament and of the Council on the screening of foreign investments in the Union and repealing Regulation (EU) 2019/452 of the European Parliament and of the Council – A10-0061/2025(297-298)

    Source: European Parliament 2

    AMENDMENTS 297-298
    REPORT
    on the proposal for a regulation of the European Parliament and of the Council on the screening of foreign investments in the Union and repealing Regulation (EU) 2019/452 of the European Parliament and of the Council
    (COM(2024)0023 – C9-0011/2024 – 2024/0017(COD))
    Committee on International Trade
    Rapporteur: Raphaël Glucksmann

    Source : © European Union, 2025 – EP

    MIL OSI Europe News –

  • MIL-OSI: NNIT A/S: Business performance impacted by market undercetainty expected to continue. Mitigating actions taken to protect profitability

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025 key highlights

    • Financial performance for the first quarter was expected to be moderate, but macroeconomic and geopolitical uncertainty increased, which impacted NNIT. The uncertainty has influenced customer behavior, especially in the three regions focusing on IT Life Science solutions, where several projects have been postponed, most predominantly in Region Europe. Group revenue amounted to DKK 464.1m, entailing flat revenue growth compared with last year.
    • Despite improving utilization and capacity adjustments made across regions during the quarter as well as tight cost focus across business areas, the group operating profit excl. special items declined to DKK 18.0m in Q1 2025 compared with DKK 23.9m in the same quarter last year. The decline was due to the lower profit generation in Region Europe and Region Denmark, partly offset by improved profitability performance in Region US and Region Asia. Group operating profit margin excl. special items was 3.9% in Q1 2025 compared with 5.2% in the same quarter last year.
    • Region Denmark growth around 4% where selected solution areas focusing on the Public sector in Denmark, is showing growth upwards at 8%. SCALES also contributed to the growth in region Denmark solidifying its position as a leader within D365 solutions.
    • Special items amounted to DKK 25.3m in Q1 2025 covering restructuring costs of DKK 20m impacting all regions, earn-out payments of DKK 3m, and IT systems and integration costs amounting to around DKK 2m.
    • The financial outlook for 2025 was adjusted on May 5, 2025 cf. company announcement 04/2025 as the current macroeconomic and geopolitical landscape has deteriorated materially since the full-year outlook communicated in February. NNIT expects to be further affected by current uncertainty why the organic growth range was adjusted to 0% to 5% (previously 7% to 10%). Group operating profit margin excl. special items was maintained at 7% to 9% due to significant cost reducing initiatives with most already having been executed. As a result of lower revenue generation caused mainly by external factors, NNIT expects to incur additional restructuring costs as special items. Special items are expected to be at up to last year’s level of DKK 69m (previously expected to be significantly below the 2024 level).

    The first quarter was more severely affected by uncertainty than expected at the beginning of the year. Hesitance among several customers of NNIT has resulted in less revenue and sales as projects are being postponed. In general, NNIT has taken action to adjust capacity to fit the current demand with several reductions completed in 2024 and leaving NNIT in a stronger position going into 2025. However, it has been necessary to take further actions to mitigate the business impact from lower revenue generation with a reduction of around 100 employees in Q1 2025. Furthermore, NNIT has carried out several cost-reducing initiatives such as putting new employments on hold and limiting all discretionary spending to a minimum with full impact from the second quarter.

    Given the current macroeconomic environment and geopolitical unrest, NNIT continues to expect that its customers will be affected, which is reflected in the adjusted full-year financial outlook.

    Pär Fors, CEO of NNIT, comments: “The business environment of NNIT has deteriorated in the first quarter of the year as especially our Life Science customers are being negatively impacted by the macroeconomic unrest. Customers are hesitant to engage in new contracts before things are stabilizing, and we are navigating this environment to continue our strategic journey at NNIT. However, the impact from the uncertainty is more severe than initially expected, why the full-year outlook has been adjusted.”

    Financial overview – Selected key figures

    NNIT A/S, DKK million Q1 2025 Q1 2024 FY 2024
    Revenue 464.1 463.4 1,851
    Revenue growth, % 0.2% 12.2% 23.4%
    Revenue growth, organic % -0.8% 8.0% 10.8%
    Group operating profit excl. special items 18.0 23.9 117
    Group operating profit margin excl. special items, % 3.9% 5.2% 6.3%
    Special items .25.3 11.3 -69
    Group operating profit incl. special items -7.3 35.2 48
    Group operating profit margin incl. special items, % -1.6% 7.6% 2.6%
           
    Free cash flow -73 -166 -40

    Conference call

    May 6, 2025, at 3:00 PM CEST: Webcast link 

    Dial in information:
    DK: +45 78 76 84 90
    SE: +46 31-311 50 03
    UK: +44 20 3769 6819
    US: +1 646 787 0157
    Participant Access code: 472855

    For more information, please contact:

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

    Media Relations
    Thomas Stensbøl
    Press & Communications Manager
    Tel: +45 3077 8800
    tmts@nnit.com 

    ABOUT NNIT

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

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

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

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

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

    Attachments

    The MIL Network –

  • MIL-OSI Europe: Written question – Impact of the revised EU Emissions Trading System on household costs – E-001665/2025

    Source: European Parliament

    Question for written answer  E-001665/2025
    to the Commission
    Rule 144
    Beatrice Timgren (ECR), Charlie Weimers (ECR), Dick Erixon (ECR)

    The extension of the EU Emissions Trading System (ETS) to include road transport and buildings under ETS 2 is expected to significantly raise energy costs for households across the EU. According to a recent analysis, the cost of this measure could be as much as EUR 650 per year for Belgian households.[1]

    This raises concerns about the distributive effects of the revised ETS, especially at a time when many families are already struggling with inflation and high energy prices. The largest burden will fall disproportionately on middle- and lower-income citizens in colder, car-dependent regions.

    • 1.Does the Commission acknowledge that the revised ETS places a disproportionate financial burden on certain Member States and certain households, e.g. those living in colder rural areas?
    • 2.In the light of the disproportionate burden placed on certain households, has the Commission considered adjusting the ETS so that it does not punish households that are not eligible for compensation from the Social Climate Fund, but which are still hit with considerably increased expenses?
    • 3.Considering the strained financial situation for many households, has the Commission considered pausing the implementation of the revised ETS, and what would the consequences on climate and household economy be if such a pause took place?

    Submitted: 24.4.2025

    • [1] https://energyville.be/wp-content/uploads/2025/04/ETS2-paper_final-15042025.pdf.
    Last updated: 5 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – The EU, WTO and public-procurement thresholds – E-001619/2025

    Source: European Parliament

    Question for written answer  E-001619/2025
    to the Commission
    Rule 144
    Per Clausen (The Left)

    During the many debates about what is a needlessly low threshold for public procurement in the EU, including as regards the considerable administrative costs and burdens associated with tenders for which no-one submits bids because they involve such small amounts, one of a number assertions that have been made is that the EU will itself not be able to modify the threshold because of World Trade Organization (WTO) rules and agreements, as described in Article 6 of the Procurement Directive[1]. But can it really be true that the EU is not in a position to determine when public bodies in the EU and Member States should put contracts out to public tender?

    Accordingly:

    • 1.Can the Commission confirm that the EU is powerless to raise or lower thresholds for public procurement in the EU or in Member States without first securing a review of the public-procurement thresholds in the WTO Government Procurement Agreement?
    • 2.What is the estimated amount of administrative costs that the EU and individual Member States could save if the threshold for public procurement were raised to EUR 1 million?

    Submitted: 23.4.2025

    • [1] https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014L0024
    Last updated: 5 May 2025

    MIL OSI Europe News –

  • MIL-Evening Report: View from The Hill: a budding Trump-Albanese bromance?

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    It took an election win, but Anthony Albanese on Monday finally received that much-awaited phone call from US President Donald Trump.

    The conversation was “warm and positive,” the prime minister told a news conference, thanking the president for “reaching out”.

    “I won’t go into all of the personal comments that he made, but he was very generous in his personal warmth and praise towards myself. He was fully aware of the [election] outcome and he expressed the desire to continue to work with me in the future.”

    While they talked about tariffs (as well as AUKUS), the detailed engagement on that sensitive matter was left for later.

    Trump, as they say, loves a winner.

    When asked earlier in Washington about the Australian election, Trump said he was “very friendly” with Albanese.

    “I don’t know anything about the election other than the man that won, he’s very good, he’s a friend of mine,” the president said. Albanese had been “very, very nice to me, very respectful to me.

    “I have no idea who the other person is that ran against him.” There’s more than a touch of irony in this, given all the effort by the government and his other opponents to paint Peter Dutton as “Trump-lite”.

    The prime minister is likely to meet Trump soon, perhaps in June. Albanese has been invited to the G7 meeting in Canada. Trump may or may not be there but a meeting could be arranged around this.

    On the tariff front, the government is readying to defend the local film industry, after Trump announced a 100% tariff on all movies going into the United States.

    Arts Minister Tony Burke said: “Nobody should be under any doubt that we will be standing up unequivocally for the rights of the Australian screen industry.”

    Indonesia to be Albanese’s first foreign visit of new term

    Albanese announced his first overseas visit would be to Indonesia. This will be a particularly important visit, given the significance of the bilateral relationship and the recent Russian request (which Indonesia rejected) to base planes in Papua.

    Indonesian President Prabowo Subianto congratulated Albanese on his win in a call on Sunday.

    In the call, Albanese asked the president to host his first overseas visit, and the president said it would be “a great honour” to do so.

    Meanwhile, in the next few days Labor’s factions will be jostling over the spoils of victory. The factions work out broadly the membership of the frontbench, but Albanese, given he has massive authority with the huge win, will be able to impose his will in this process where he wants to do so. The prime minister allocates the portfolios.

    Although there will be changes, Labor sources are expecting substantial continuity between the old and new ministries, especially at the higher level.

    Albanese has previously confirmed top cabinet members, notably Treasurer Jim Chalmers, Foreign Minister Penny Wong, Defence Minister Marles, Finance Minister Katy Gallagher and Trade Minister Don Farrell, will remain in their present ministries.

    Most interest is in whether Environment Minister Tanya Plibersek is moved. Albanese would not say, when asked during the campaign, whether she would remain in environment although he confirmed she would stay in cabinet. Albanese and Plibersek have had a poor relationship over decades. She had expected to become education minister after the last election and was shocked to be given the environment portfolio/

    Albanese told his news conference “I want Labor to be the natural party of government”.

    Knife out for Angus Taylor

    What goes around comes around. Outgoing NSW Liberal senator Hollie Hughes, who blamed shadow treasurer
    Angus Taylor for her loss of preselection because he endorsed the candidate who beat her, has unleashed on Taylor’s leadership aspirations.

    Hughes told the ABC on Monday she would not support Taylor to be the next leader.

    She said the opposition’s economic narrative “was just completely non-existent. I’m not quite sure what [Taylor has] been doing for three years.

    “There was no tax plan, I think the economic team has significantly let down the parliamentary team, it’s let down our membership, it’s let down our supporters and it’s let down people in Australia broadly – the fact they had nothing to sell, nothing to say, and clearly had not done the work that was required.”

    She said deputy leader Sussan Ley had done “a fantastic job over the past three years and I’m hopeful that she will definitely still be part of our leadership.”

    Four names are in the mix for the successor to Peter Dutton, who lost his seat of Dickson in Saturday’s rout. They are Taylor, Ley, immigration spokesman Dan Tehan and defence spokesman Andrew Hastie. None has yet declared their candidature.

    Hastie told The West Australian at the weekend, “I certainly want to be able to drive change within the party itself and what that looks like will be up to my colleagues to determine”.

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

    – ref. View from The Hill: a budding Trump-Albanese bromance? – https://theconversation.com/view-from-the-hill-a-budding-trump-albanese-bromance-255619

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Buffett, Cook stress dangers of new US tariff policy

    Source: People’s Republic of China – State Council News

    Billionaire investor Warren Buffett and Apple CEO Tim Cook have joined a chorus of business leaders warning against Washington’s tariff-driven trade policies, highlighting that they are inflating costs for companies in the United States and harming economic growth.

    Their remarks show that even large corporations with diversified supply chains, like Apple, are feeling the strain, while smaller US enterprises reliant on imports face bigger risks, industry experts said.

    “Trade should not be a weapon,” Buffett, the chairman and CEO of Berkshire Hathaway, told the company’s annual shareholders meeting on Saturday in Omaha, Nebraska.

    “It’s a big mistake, in my view, when you have seven and a half billion people that don’t like you very well, and you got 300 million that are crowing in some way about how well they’ve done — I don’t think it’s right, and I don’t think it’s wise,” said Buffett.

    He said tariffs had “led to bad things”.

    “Just the attitudes it’s brought out. In the US, I mean, we should be looking to trade with the rest of the world and we should do what we do best and they should do what they do best,” Buffett said.

    He emphasized that US prosperity hinges on global economic health.

    “I do think that the more prosperous the rest of the world becomes, it won’t be at our expense, the more prosperous we’ll become, and the safer we’ll feel and your children will feel someday,” he added.

    The remarks followed data showing that the US economy contracted for the first time in three years, swamped by a flood of imports as businesses raced to avoid higher costs from tariffs.

    The US GDP decreased at an annualized rate of 0.3 percent in the first quarter of 2025 compared with the preceding quarter, marking the first decline in three years, said Reuters, quoting a report from the US Commerce Department.

    Cook from Apple revealed on Thursday that tariffs could add $900 million to the US tech company’s costs this quarter.

    “Assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter and no new tariffs are added, we estimate the impact to add $900 million to our costs,” he told a quarterly earnings call.

    About 90 percent of Apple’s iPhone, its most profitable product, is produced in China, according to estimates by the Los Angeles-based financial services firm Wedbush Securities.

    Bai Ming, a researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing, said the “America First” approach has backfired, with tariffs raising input costs for manufacturers, squeezing consumer prices, and eroding business confidence.

    “The tariffs hit the US companies very hard. It is ultimately American consumers that pay the extra bill,” Bai added.

    Jeffrey Sachs, a world-renowned professor of economics and director of the Center for Sustainable Development at Columbia University, told China Daily that Washington’s tariff policy is “destructive for the United States and disruptive for the world”.

    “Protectionism will fail and increasingly isolate the US in the world economy and politics. There are few countries that will accept Trump’s approach, even in Europe,” Sachs added.

    MIL OSI China News –

  • MIL-OSI: Municipality Finance issues a GBP 50 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    5 May 2025 at 10:00 am (EEST)

    Municipality Finance issues a GBP 50 million tap under its MTN programme

    On 6 May 2025 Municipality Finance Plc issues a new tranche in an amount of GBP 50 million to an existing benchmark issued on 7 March 2024. With the new tranche, the aggregate nominal amount of the benchmark is GBP 550 million. The maturity date of the benchmark is 2 October 2028. The benchmark bears interest at a fixed rate of 4.375 % per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and 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 new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 6 May 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    UBS Europe SE acts as the Dealer for the issue of the new tranche.

    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 owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland.
    The Group’s balance sheet is over EUR 53 billion.

    MuniFin builds a better and more sustainable future with its customers. Our customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. 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 –

  • MIL-OSI: Aktsiaselts Infortar interim report for Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Aktsiaselts Infortar interim report for Q1 2025

    Infortar will arrange a webinar for investors today 5 May 2025.Please join the webinar via the following links:

    Estonia’s largest investment holding company, Infortar, increased its turnover by 20% in the first quarter of the year compared to the same period last year, reaching €447 million. The group’s total assets nearly doubled to €2.6 billion, while investments tripled to €22 million. In recent years, Infortar has nearly doubled the size of its real estate portfolio and is actively expanding across multiple sectors.

    Since August 1st of last year, the results of Tallink, a group company, have been consolidated into Infortar’s financial statements. Due to the highly seasonal nature of the maritime transport business, Tallink’s first-quarter loss of €33 million was reflected in Infortar’s own results. An additional impact came from a €1.7 million income tax expense, resulting in a total net loss of €14.6 million for Infortar in the first quarter, of which €4.5 million was attributable to Infortar’s shareholders. The energy business was affected by an exceptionally warm winter and lower consumption, but remained profitable overall. The real estate segment, meanwhile, showed significant year-on-year growth in volumes. 

    “The economy stands on three pillars – agriculture, industry, and services. In recent years, Infortar has expanded its presence across all three to achieve its goals and diversify risk. Moreover, we have grown into a market leader in each,” said Ain Hanschmidt, Chairman of the Management Board of Infortar.

    “The performance of Tallink had the biggest impact on Infortar’s first-quarter profitability. In addition to typical seasonality, passenger numbers in the first quarter reflected the state of the core markets’ economies and low consumer confidence. Still, it is important to note that the most challenging period of the year is now behind Tallink, and the outlook is more optimistic,” Hanschmidt added.

    “The energy business was affected by an exceptionally mild winter, lower consumption, and a gas surplus. Nevertheless, the segment remained profitable, primarily due to well-placed investments in gas distribution networks in Latvia and Poland. In real estate, we continued rapid growth – over the past year, we have expanded our portfolio by nearly 50%, becoming one of the largest property owners in the Baltics,” said Hanschmidt.

    “Despite a turbulent environment, Infortar continues to grow as one of the largest investment companies on the eastern coast of the Baltic Sea, actively seeking new investment opportunities. Our balance sheet strength is the key indicator of resilience – Infortar’s financial position and liquidity remain solid, free liquidity is €153 million enabling us to generate cash and invest. We can also confirm our continued commitment to the stated dividend policy. Diversification across sectors and countries has created a strong platform that provides confidence even in volatile times,” Hanschmidt concluded.

    Major Event

    Maritime transport

    Tallink´s first quarter of 2025 was impacted by low consumer and business confidence levels, the economic challenges in the Group’s core markets and global geopolitical tensions. As at the end of the quarter, the Group operated 14 vessels including 2 shuttle vessels, 6 passenger vessels, 2 vessels that were chartered out and 4 vessels that were in lay-up.

    During the quarter Tallink´s total investments amounted to EUR 13.3 million majority of which were made to upgrading the cruise ferries Baltic Princess and Silja Serenade. The planned maintenance works totalling 68 days in the first quarter of 2025 affected the passenger and cargo levels in Finland-Sweden routes.

    Energy

    In the first quarter, natural gas consumption in the Finnish-Baltic region totalled 15,0 TWh, decreasing by 19% compared with the previous year (16,5 TWh). Energy sales were negatively impacted by higher-than-average temperatures, which reduced the demand for natural gas.

    In the first quarter of 2025, Elenger Grupp sold a total of 4.6 TWh of energy (compared to 6,1 TWh in Q1 2024). Sales in Estonia accounted for 17% of the energy sales in Q1 2025. The company´s market share decreased in Q1 2025 to 20,0% in the Finland-Baltic gas market.

    Real estate

    At the end of last year, the Rimi logistics center in Saue municipality received its usage permit; this summer, the new bridge in Pärnu will be completed, and next year, DEPO will open its second store in Estonia, located in Lasnamäe.

    Key financial figures

    Key figures Q1 2025 Q1 2024 12 months 2024
    Sales revenue. m€ 447.357 372.584 1 371.775
    Gross profit. m€ 26.068 50.004 128.628
    EBITDA. m€ 27.661 74.004 145.275
    EBITDA margin (%) 6.2% 19.9% 10.6%
    Net profit. EBIT. m€ -0.655 67.624 77.024
    Total profit(-loss). m€ -14.561 62.062 193.670
    Net profit (-loss) holders of the Parent m€ -4.479 62.167 191.253
    EPS (euros)* -0.2 3.1 9.6
    Total equity m€ 1 181.002 820.210 1 166.222
    Total liabilities m€ 1 105.305 852.690 1 223.287
    Net debt m€ 952.397 195.799 1 055.708
    Investment loans to EBITDA (ratio)** 3.3x 1.5x 3.0x

    Notes:*For the earnings per share (EPS) calculation, the number of shares as of 31.03.35 has been used for comparability. Formula: profit/loss attributable to Infortar shareholders divided by the number of shares, excluding own shares issued under the stock option program. Example calculation based on the end of Q1 2024: (191 x 1,000,000) / (20,443,629 – 722,610).**Investment loans / EBITDA, annualized. For comparability,actualEBITDA of Tallink Grupp for the relevant period has been used, based on Tallink Grupp quarterly report.

    Revenue

    In the first quarter of the 2025 financial year, the Group’s consolidated revenue increased by EUR 74.7 million to EUR 447.4 million (Q1 2024 consolidated revenue: EUR 372.6 million). A significant impact came from the consolidation of Tallink Grupp’s results into Infortar’s consolidated financial statements as of 1 August 2024.

    EBITDA and Segment Reporting
    In the first quarter of the 2025 financial year, the EBITDA of the maritime transport segment amounted to EUR -3.8 million (Q1 2024: EUR 34.5 million).
    The energy segment’s EBITDA was EUR 31.8 million (Q1 2024: EUR 73.9 million).
    In the real estate segment, profitability is assessed based on the EBITDA of individual real estate entities.

    Based on separate real-estate companies results, the real estate segment’s EBITDA was EUR 3.4 million in Q1 2025 (Q1 2024: EUR 3.8 million).

    Net Profit (Loss)
    The consolidated net loss for the first quarter of the 2025 financial year was EUR -14.6 million, including a loss attributable to Infortar’s owners of EUR -4.5million (Q1 2024 net profit: EUR 62.1 million, including EUR 62.2 million attributable to Infortar’s owners).

    Investments
    In the spring of 2024, Infortar entered the agricultural sector by acquiring one of Estonia’s largest dairy farms in Halinga and began construction of a biomethane plant next to the farm to produce local green gas. Today, on 5 May, Infortar announced an additional investment plan in Estonia Farmid OÜ.
    In the first quarter of 2025, the total amount of investments made by the Infortar Group was approximately EUR 22 million.

    Financing
    As of the first quarter of the 2025 financial year, the Group’s total loan and lease liabilities amounted to EUR 1 105.3million (compared to EUR 1 223.3 million at the end of the 2024 financial year). Infortar’s net debt stood at EUR 952.397 million. The net debt to EBITDA ratio was 3.4.

    Dividends

    According to the dividend policy, the objective is to pay dividends of at least 1 euro per share per financial year. Dividend payments are made semi-annually. Infortar Group’s management proposes to pay a dividend of 3 euros per share for the 2024 financial year results. According to the proposal, the first payout is planned to be made no later than July, and the second payout in December 2025. 

    Consolidated Statement of Profit or Loss

    (in thousands of EUR) Q1 2025 Q1 2024 12 months 2024
    Revenue 447 357 372 584 1 371 775
    Cost of goods (goods and services) sold -421 173 -322 573 -1 243 034
    Write-down of receivables -116 -7 -113
    Gross profit 26 068 50 004 128 628
    Marketing expenses -10 976 -415 -21 086
    General administrative expenses -20 965 -7 238 -50 438
    Profit (loss) from derivatives 0   26 672
    Profit (loss) from biological assets -33 0 -139
    Profit (loss) from the change in the fair value of the investment property 0 156 -949
    Profit (loss) from the change in the fair value of the investment property 3 939 24 659 -8 691
    Other operating revenue 1 956 600 4 682
    Other operating expenses -644 -142 -1 655
    Operating profit -655 67 624 77 024
           
    (in thousands of EUR) Q1 2025 Q1 2024 12 months 2024
    Profit (loss) from investments accounted for by equity method 955 2 000 22 974
    Financial income and expenses:      
    Other financial investments -333 0 13 342
    Interest expense -12 896 -6 745 -38 274
    Interest income 842 1 244 4 979
    Profit (loss) from changes in exchange rates -315 -2 100
    Other financial income and expenses -451 4 93 659
    Total financial income and expenses -13 153 -5 499 73 806
    Profit before tax -12 853 64 125 173 804
    Corporate income tax -1 708 -2 063 19 866
    Profit for the financial year -14 561 62 062 193 670
    including:      
    Profit attributable to the owners of the parent company -4 479 62 167 191 253
    Profit attributable to non-controlling interest -10 082 -105 2 417
           
    Other comprehensive income Q1 2025 Q1 2024 12 months 2024
    tems that will not be reclassified to profit or loss      
    Revaluation of post-employment benefit obligations     -141
    Items that may be subsequently reclassified to the income statement:  
    Revaluation of risk hedging instruments     -45 792
    Exchange rate differences attributable to foreign subsidiaries     53
    Total of other comprehensive income     -45 880
    Total income, including:     147 790
    including:      
    Comprehensive profit attributable to the owners of the parent company     145 514
    Comprehensive profit attributable to non-controlling interest     2 417
    Ordinary earnings per share (in euros per share) -0,22 14,62 9
    Diluted earnings per share (in euros per share) -0,21 14,15 14,15

    Consolidated Statement of Financial Position

    (in thousands of EUR) 31.03.25 31.12.24
    Current assets    
    Cash and cash equivalents 152 908 167 579
    Short term financial investments 0 0
    Derivative financial assets 16 968 8 333
    Settled derivative receivables 2 448 676
    Other prepayments and receivables 153 040 155 351
    Prepayments for taxes 3 650 3 831
    Trade and other receivables 51 379 38 517
    Prepayments for inventories 1 953 2 498
    Inventories 124 636 215 914
    Biological assets 941 941
    Total current assets 507 923 593 640
         
    Non-current assets 31.03.25 31.12.24
    Investments to associates 17 559 16 603
    Long-term derivative instruments 340 3 214
    Other long term obligations 34 685 35 163
    Property, plant and equipment at fair value 1 309 599 1 315 167
    Investment property 68 175 67 931
    Property, plant and equipment 598 280 594 291
    Intangible assets 38 008 38 874
    Right-of-use assets 46 043 47 598
    Biological assets 2 720 2 753
    Total non-current assets 2 115 409 2 121 594
    TOTAL ASSETS 2 623 332 2 715 234
         
    (in thousands of EUR) 31.03.25 31.12.24
    Current liabilities    
    Loan liabilities 396 801 497 162
    Rental liabilities 8 755 9 020
    Payables to suppliers 104 664 87 941
    Tax obligations 48 861 49 354
    Buyers’ advances 40 946 31 126
    Settled derivatives 9 706 8 728
    Other current liabilities 68 409 63 431
    Short term derivatives 8 285 27 704
    Total current liabilities 686 427 774 466
         
    Non-current liabilities 31.03.25 31.12.24
    Long-term provisions 8 455 9 946
    Deferred taxes 3 039 2 816
    Other long-term liabilities 43 412 43 209
    Long-term derivatives 1 248 1 471
    Loan-liabilities 661 602 676 670
    Rental liabilities 38 147 40 435
    Total non-current liabilities 755 903 774 547
    TOTAL LIABILITIES 1 442 330 1 549 013
         
    (in thousands of EUR) 31.03.25 31.12.24
    Equity    
    Share capital 2 117 2 117
    Own shares -72 -72
    Share premium 32 484 32 484
    Reserve capital 212 212
    Option reserve 7 431 6 223
    Hedging reserve* 3 510 -21 674
    Unrealised currency translation differences 2 854 45
    Employment benefit reserve -44 -185
    Retained earnings 885 688 890 167
    Net profit of the financial year    
    Total equity attributable to equity holders of the Parent 934 180 909 317
    Minority interests 246 822 256 904
    Total equity 1 181 002 1 166 221
         
    TOTAL LIABILITIES AND EQUITY 2 623 332 2 715 234

    Consolidated Statement of Cash Flows

    Cash flows from operating activities    
    (in thousands of EUR) 3 months
    2024    		 12 months
    2024
    Profit for the financial year -14 561 193 670
    Adjustments:    
    Depreciation, amortisation, and impairment of non-current assets 28 316 68 251
    Change in the fair value of the investment property 0 0
    Equity profits/losses -956 -22 974
    Change in the value of derivatives -79 -1 483
    Other financial income/expenses 2 300 -112 030
    Calculated interest expenses 12 896 38 274
    Profit/loss from non-current assets sold -116 -955
    Income from grants recognised as revenue -385 -643
    Corporate income tax expense 1 708 -19 866
    Income tax paid -1 485 -10 551
    Change in receivables and prepayments related to operating activities -12 184 52 023
    Change in inventories 91 823 -12 831
    Change in payables and prepayments relating to operating activities 29 780 -81 275
    Change in biological assets 33 -322
    Total cash flows from operating activities 137 090 89 288
         
    Cash flows from investing activities 3 months
    2024    		 12 months
    2024
    Purchases of subsidiaries -333 -111 684
    Proceeds from the sale of other financial investments 0 0
    Received dividends 0 20 862
    Given loans 607 1 918
    Interest gain 755 4 953
    Purchases Investment property -244 -10 352
    Purchases of property, plant and equipment -23 305 -27 835
    Proceeds from sale of property 139 1 561
    Total cash flows used in investing activities -22 381 -120 577
         
    Cash flows used in financing activities 3 months
    2024    		 12 months
    2024
    Gain from goverment grants 394 225
    Changes in overdraft -43 343 12 863
    Proceeds from borrowings 94 276 358 731
    Repayments of borrowings -166 362 -151 790
    Repayment of finance lease liabilities -3 591 -11 300
    Interest paid -10 754 -39 153
    Dividends paid 0 -60 997
    Gain from share emission 0 3 174
    Total cash flows used in financing activities -129 380 111 753
      0 0
    TOTAL NET CASH FLOW -14 671 80 464
    Cash at the beginning of the year 167 579 87 115
    Cash at the end of the period 152 908 167 579
    Net (decrease)/increase in cash -14 671 80 464

    Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,296 people.

    Additional information:

    Kadri Laanvee
    Investor Relations Manager
    Phone: +372 5156662
    e-mail: kadri.laanvee@infortar.ee
    www.infortar.ee/en/investor

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    The MIL Network –

  • MIL-OSI: Dawn Health Secures EURm 11.5 to Scale Platform & Product Suite for Next-Gen Pharma Digital Health Solutions

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Dawn Health Secures EURm 11.5 to Scale Platform & Product Suite for Next-Gen Pharma Digital Health Solutions

    Copenhagen, Denmark – 5th of May, 2025

    Dawn Health – a global leader in digital health, co-founded by Trifork and held as a minority investment in Trifork Labs – today announced that the company has secured a funding round of EURm 11.5 from its existing investors: Chr. Augustinus Fabrikker, the Export and Investment Fund of Denmark (EIFO), and Trifork Labs. The investment is aimed at supporting the company’s strategy to deliver its platform and product suite to global pharma companies through a SaaS model, while continuing to invest in further offerings within the Dawn Product Suite.

    Since 2021, Dawn Health has been dedicated to developing a best-in-class platform designed specifically to accommodate the needs and use cases of the pharmaceutical industry. The Dawn Platform and Product Suite have already been widely adopted by five global industry leaders, including Merck and Novartis. The Dawn Platform is currently used in areas such as oncology, multiple sclerosis, and rare pediatric conditions like growth disorders. It helps patients manage their treatment, report symptoms, and stay in close contact with their healthcare team.

    The Dawn Platform and Product Suite empower pharma companies, patients, and healthcare professionals to improve outcomes and patient care by leveraging advanced capabilities in AI, data, evidence generation, clinical integrations, personalization, and connected health. By improving both data collection and analytics, these capabilities ultimately benefit patients and pharma companies alike, positioning the Dawn Platform as the foundation for therapy companions, disease management programs, and real-world evidence (RWE) solutions that enable the next generation of digital health.

    “Our ambition is to be the global leader in digital health, powering pharma’s next-generation products – and ultimately improving the lives of patients worldwide,” said Alexander Mandix Hansen, CEO of Dawn Health. “This funding allows us to bring our proven platform to more markets and deepen our impact.”

    This next phase reinforces Dawn Health’s position as a trusted partner to pharma companies, delivering valuable, scalable, regulatory-grade digital health products that evolve with the needs of modern medicine.

    “Since the major investment in December 2021, Dawn Health has grown its revenue significantly and expanded its footprint in global pharma. With more than 100 employees, unique solutions, and a strong regulatory infrastructure, we are prepared to further accelerate our growth,” said Lars Marcher, Chairman of Dawn Health.

     

    About Dawn Health
    Dawn Health is a global leader in digital health, specializing in the development of Software as a Medical Device (SaMD), Digital Therapeutics (DTx), and connected health solutions. Accelerating the launch of digital solutions to market, the Dawn Health product suite drives innovation to change the lives of people with chronic conditions. Through close partnerships with the life sciences industry, Dawn Health creates digital health products that transform patient care through an empathetic and human-centric approach. Learn more at dawnhealth.com.

    Contact: Christopher Kold, Marketing Manager, cko@dawnhealth.com, +45 41 58 60 88

    About Trifork Group
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Contact: Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 7317

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    The MIL Network –

  • MIL-OSI: BW Energy: First quarter results 2025 

    Source: GlobeNewswire (MIL-OSI)

     BW Energy First quarter results 2025 

    HIGHLIGHTS 

    • Record Q1 EBITDA of USD 182.1 million, net profit of USD 83 million 
    • Operational cash-flow of USD 154.7 million in the quarter 
    • Q1 gross production of 4.2 mmbbls with 3.2 mmbbls net to BW Energy  
    • Highest quarterly production since inception from the Dussafu licence  
    • Maintained a strong balance sheet with cash position of USD 286.9 million 
    • Substantial oil discovery in the Bourdon prospect 
    • Maromba development FID unlocking path to more than doubling production and potential for future dividends 

    BW Energy, operator of the Dussafu Marin licence in Gabon and the Golfinho cluster offshore Brazil, reported a record quarterly EBITDA of USD 182.1 million for the first quarter of 2025. This was up 31% from USD 141.6 million in the previous quarter on increased oil sales following all-time-high production in Gabon and higher output in Brazil. The net production was ~36,000 bbls/day, including the Tortue, Hibiscus, and Hibiscus South fields in the Dussafu licence (73.5% working interest or “WI”) and the Golfinho field (100% WI).  

    “BW Energy delivers a strong first quarter with record production and EBITDA on the back of sustained stable operations across our asset portfolio in Gabon and Brazil,” said Carl K. Arnet, the CEO of BW Energy. “The accretive start to 2025 is further underpinned by the Bourdon discovery growing our Dussafu reserves, FID on the Golfinho Boost adding to production and reducing OPEX, and finally the Maromba FID. This transformative project is set to unlock industry-leading production growth and position BW Energy for future shareholder distributions.”  


    DUSSAFU

    BW Energy completed three liftings in the first quarter at an average realised price of USD 74.8/bbl. Net production was approximately 2.6 mmbbls of oil and the net sold volume, the basis for revenue recognition, was approximately 3.2 mmbbls including 65,000 bbls of DMO deliveries and 320,889 bbls of state profit oil with an over-lift position of 350,893 bbls at period-end.  

    Net production from the Dussafu licence averaged ~28,700 bbls/day, an increase of 5% from the previous quarter. Operating cost (excluding royalties) decreased to USD 9.9/bbl from USD 11.7/bbl in the fourth quarter due to operational efficiencies and increased production. Further cost savings are expected as BW Energy is preparing to take over the operations of the BW Adolo FPSO during the current quarter.  

    On 2 January 2025, Phase 1 of the Hibiscus / Ruche development was completed with eight producing wells, two more than planned at project sanction.   


    GOLFINHO

    Net production from the Golfinho field averaged ~7,300 bbls/day equivalent to a total production of 657,000 bbls in the quarter, up 12% from the previous quarter as gaslift resumed after completion of Petrobras maintenance. One lifting was carried out of ~500,000 bbls at a realised price of USD 75/bbl. Remaining inventory was approximately 597,750 bbls at the end of the period. Operating cost (excluding royalties) averaged USD 42.2/bbl barrel, down from 56.4/bbl in the fourth quarter, primarily due to higher production. In early April, the Brazilian oil and gas regulator ANP extended the production phase under the Golfinho concession contract, which has been extended to 2042 from previously 2031. 

    OTHER ITEMS

    On 28 March, BW Energy entered into an up to USD 500 million Reserve Based Lending (RBL) facility, replacing the 2022 facility which was increased to USD 300 million in 2023. The facility has an initial commitment of USD 400 million, which can be expanded with an additional USD 100 million subject to mutual agreement and satisfaction of customary conditions precedent. The senior secured long-term debt facility matures on 1 October 2030. 

    At 31 March 2024, BW Energy had a cash balance of USD 286.9 million, compared to USD 221.8 million at end-December. The increase reflects cash flow from operations less debt repayment and investments in the period. The Company had a total drawn debt balance of USD 599 million including the MaBoMo lease, the Dussafu RBL, the Golfinho prepayment facility and bond debt. 

    Production guidance for 2025 is unchanged at between 11 and 12 mmbbls net to BW Energy. Expected full-year operating cost is maintained at USD 18 to 22/bbl (the basis for calculating unit operating cost has been revised from 2025 onwards to exclude royalties, tariffs, workovers, domestic market obligation purchases, production sharing costs, and incorporates the impact of IFRS 16 adjustments, primarily impacting Gabon operations). Net capital expenditures for 2025 are expected at USD 650-700 million, up from USD 260 to 285 million previously. The increased follows the FIDs for the Maromba development and the Golfinho Boost project.  

    DEVELOPMENT PLANS 

    BW Energy confirmed a substantial oil discovery with good reservoir and fluid quality in the Bourdon prospect offshore Gabon. Management estimates indicate 56 million barrels oil in place, of which approximately 25 million barrels are considered recoverable, potentially through a future development cluster following the MaBoMo blueprint. The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves.  

    Work on optimising Golfinho production continued to focus on stabilising FPSO performance and selected future well workovers. In mid-April, BW Energy made FID on the Golfinho Boost project with planned investments of USD 107 million. The project is set to add 3 kbbls/day of incremental production and 12 mmboe of further reserves, while also increasing production uptime and reducing OPEX with first oil planned in the second half of 2027.   

    BW Energy has also made FID for the Maromba development offshore Brazil based on a capex-efficient, phased development with a wellhead platform (WHP) and FPSO. The development targets 500 million barrels of oil in place in the highly delineated Maastrichtian sands. First oil is planned in the second half of 2027 with expected plateau production of 60,000 barrels of oil per day, enabling short pay-back time and more than doubling BW Energy’s total net production by 2028.    

    In Namibia, BW Energy continued to prepare for an appraisal well targeting the Kharas Prospect northwest in the Kudu licence with planned start-up drilling operations in the second half of 2025. Long-lead items have been procured and the Company is reviewing offers for rig capacity.  

    REPORTS AND PRESENTATION 

    Please find the first-quarter earnings presentation attached. The reports are also available at: 

    www.bwenergy.no/investors/reports-and-presentations 

    BW Energy will today hold a live presentation at Hotel Continental, Oslo, Norway, and conference call followed by a Q&A hosted by CEO Carl K. Arnet, CFO Brice Morlot, CSO Thomas Young, CTO Jerome Bertheau and CCO Thomas Kolanski at 09:30 CEST. 

    You can follow the presentation via webcast with supporting slides, available on: 

    VIEWER REGISTRATION • Q1 2025   

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The Web page works best in an updated browser – Chrome is recommended. 


    For further information, please contact: 

    Brice Morlot, CFO BW Energy

    +33.7.81.11.41.16, ir@bwenergy.no
     

    About BW Energy: 

    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025. 

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

    Attachment

    The MIL Network –

  • MIL-OSI: BW Energy: Makes FID on Maromba field development in Brazil  

    Source: GlobeNewswire (MIL-OSI)

    BW Energy makes FID on Maromba field development in Brazil  

    BW Energy is pleased to announce the final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 barrels of oil per day. The development will more than double BW Energy’s total net production by 2028 and has short pay-back time.    

    Project highlights: 

    • Initial six production wells from the WHP 
    • The WHP will be a converted drilling jack-up with up to 16 well slots and production- and test-flowlines connected to the redeployed FPSO BW Maromba (ex. Polvo) 
    • A second six-well drilling campaign will fully leverage the established field infrastructure and allow for appraisal and testing of other reservoir horizons  
    • BW Maromba refurbishment and life extension work is already underway at the COSCO yard in China 
    • Total investments of USD ~1.5 billion, split USD ~1.2 billion for the initial development and a further USD ~0.3 billion for the secondary drilling campaign 

    “We have spent time on optimising the Maromba development plan and concluded on a highly competitive concept with a repurposed jack-up platform and FPSO, repeating the approach we very successfully applied in Gabon. Maromba will enable BW Energy to deliver industry-leading organic production growth and position the Company for further low-cost developments of known potential developments. We expect to unlock significant shareholder value in all realistic oil price scenarios,” said Carl K. Arnet, the CEO of BW Energy. 

    Capex-efficient development concept  

    The development comprises six initial Maastrichtian horizontal production wells with dry-trees and artificial lift by downhole Electric Submersible Pumps (ESPs). Production will be transferred from the WHP to the spread moored FPSO Maromba for treatment, storage and offloading to shuttle tankers. The WHP will be installed in ~150 meters of water depth with full drilling facilities. Once installed, the infrastructure will also enable the planned secondary six-well drilling campaign and provide potential for future development phases with low-cost infill wells, potential water injectors as well as allowing appraisal and production of multiple proven reservoirs outside the main Maastrichtian resources.    

    The FPSO Maromba is currently at the COSCO yard in China, undergoing initial refurbishment and life extension work following completion of condition assessment and FEED.  The FPSO is designed with 1 million barrels of storage capacity. The total liquid capacity will be 100,000 barrels per day with oil production capacity of 65,000 barrels per day and water treatment capacity of 85,000 barrels per day.  

    BW Energy has agreed to acquire a jack-up with complete leg extensions for USD 107.5 million. The rig will undergo a limited conversion to serve as an integrated drilling and wellhead platform prior to installation on the field.

    “The repurposing of existing energy infrastructure enables reduced investments and shorter time to first oil with significantly reduced greenhouse gas emissions in the development phase, as compared to installing new production assets,” said Carl K. Arnet, the CEO of BW Energy. 

    Attractive field economics  

    BW Energy expects to invest approximately USD 1 billion before first oil and a further USD 200 million to complete the initial drilling campaign before end 2028. This will be followed by USD 300 million for the additional six wells in the second campaign with completion before end 2030.  

    BW Energy anticipates Maromba to achieve a competitive production cost, averaging less than USD 10 per barrel over the first five years, underpinning robust project economics. 

    Estimated project IRR exceeds 30% at oil at USD 60 per barrel Brent and break-even at 10% IRR is around USD 40 per barrel Brent. The heavy oil from the Maromba is expected to trade at a discount to Brent of approximately USD 7.5 per barrel.  

    The development will be financed through existing cash and undrawn facilities, cashflow from operations, and separate infrastructure financing solutions related to the FPSO and WHP. The Company is also evaluating a range of financing alternatives, including a corporate facility, reserve-based lending, trader financing and the potential issuance of bonds.  

    BW Energy has also received a commitment by the main shareholder BW Group for a USD 250 million shareholder loan facility.   

    The Maromba field 

    Maromba is located 100 km off the Brazilian coast in the Campos Basin. Nine wells were drilled in the license between 1980 and 2006, with oil found in eight of these across various reservoirs. The development project targets 123 million barrels of 2P reserves (management estimates), with potential additional resources from other reservoirs to be appraised along the development. BW Energy acquired 100% ownership in Maromba in 2019 for a total of USD 115 million, of which USD 85 million remains to be paid to the sellers at predefined milestones. Magma Oil holds a 5% back-in right in the Maromba licence which is expected to be executed upon first oil.  

    BW Energy is following all the steps of the approval process with the Brazilian O&G Regulator (ANP) and with the Environmental Agency (IBAMA). The Company will now proceed with contracting of long-lead items and services, as well as finalising the financing agreements.   

    More information on the Maromba development will be shared in connection with the first quarter 2025 earnings presentation held at Teatersalen, Hotel Continental in Oslo, Norway, 09:30 CEST on 5 May.  

    The presentation can also be followed via webcast on: 

    VIEWER REGISTRATION • Q1 2025  
    https://events.webcast.no/viewer-registration/9LwLZF1X/register   

    For further information, please contact: 

    Brice Morlot, CFO BW Energy

    +33.7.81.11.41.16
    ir@bwenergy.com  

    About BW Energy  

    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025. 

    This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Regine Andersen, 05 May 2025.

    The MIL Network –

  • MIL-Evening Report: After its landslide win, Labor should have courage and confidence on security – and our alliance with the US

    Source: The Conversation (Au and NZ) – By Joanne Wallis, Professor of International Security, University of Adelaide

    The re-election of the Albanese Labor government by such a wide margin should not mean “business as usual” for Australia’s security policy.

    The global uncertainty instigated by US President Donald Trump means Australia’s security landscape is very different today from when Labor was first elected in 2022, or even when its Defence Strategic Review was released in 2023.

    As we argue in our recent book, the Albanese government faces increasingly difficult questions.

    How can we maintain our crucial security alliance with the US while deepening partnerships with other countries that have reservations about US policy?

    And, given Trump’s recent actions, how much can we continue to rely on the United States and what are the potential costs of the alliance?

    With a massive parliamentary majority, the new government has an opportunity for bold thinking on national security. This is not the time for Australia to keep its head down – we need to face the rapidly changing world with our heads held high.



    Read more:
    Blaming Donald Trump for conservative losses in both Canada and Australia is being too kind to Peter Dutton

    Trump 2.0 is not the same as 1.0

    We do not advocate Australia step away from the US alliance. We are also realistic that decades of defence procurement mean Australia is heavily reliant on US defence materiel (and its subsequent sustainment) for our security.

    The deep interoperability between the Australian Defence Force and the US military is something alliance sceptics too readily gloss over: much Australian military capability cannot function without ongoing American support.

    At the same time, many alliance advocates underestimate the impact of the new challenges we face. Some assumed a continuity between the first and second Trump administrations. However, we are not convinced the lessons learned from Trump 1.0 are still valid.

    A key difference between Trump 1.0 and 2.0 is the effect of his move away from respecting international law.

    For example, the US has voted with Russia against UN Security Council resolutions condemning the Ukraine war, withdrawn from the Paris Climate Agreement and World Health Organization, and damaged relations with NATO allies, among many other actions.

    As a middle power, Australia has long relied on the “rules-based order” to advance its foreign and strategic policy interests.

    Even if “normal transmission” resumes under a new US president in 2029, we are concerned the Trump administration’s structural changes to the international order will not easily be wound back. American soft power has been decimated by cuts to the US State Department, USAID and international broadcasting services. This will also not be rebuilt quickly.

    A second difference is there are few “adults left in the room” in the Trump administration.

    The advisers who kept Trump in check during his first administration have been replaced by loyalists less likely to push back against his ideas and impulses. This includes his long-held grievance that allies have been exploiting the US.

    The Albanese government needs to think more deeply about how to hedge against dependence on the US. This means investing in relations with other partners, especially in Asia and the Pacific, and working with them to promote the laws, rules and norms that maintain stability and predictability in global affairs.

    An idealistic vision for the future

    We are also concerned that many in the national security community base their policy recommendations on the assumption that war between the US and China is inevitable, and such a conflict could draw in Australia as America’s ally.

    Rather, the Trump administration’s preference for “deals” opens the possibility the US and China might come to an arrangement that will affect US presence and leadership in our region.

    Australia may not be prepared for this. The new government must engage in more open discussion about how we would maintain our security if the US does pull back from the region or makes decisions Australians don’t support.

    As a start, we need to consider how Australia can better pursue self-reliance within the alliance structure. We need a range of strategic options in the future that don’t rely on an outdated image of the US as a reliable partner.

    This debate should be guided by what we call “pragmatic idealism”.

    Rather than accepting the way things are, the government and members of the national security community need to re-imagine how things can be.

    We argue the Albanese government should draw confidence from its thumping electoral win to articulate a politics of hope, opportunity and possibility for our future security. This needs to drown out the cynicism, passive acceptance and learned helplessness that often characterises Australian national security debates.

    We are conscious that being “idealistic” is often dismissed as impractical, naïve “wishful thinking”. But the new government needs to demonstrate to Australians it has the courage to face the diverse, interlinked and complex security challenges we face – potentially on our own. These extend to issues such as cyber attacks, transnational crime and climate change.

    Practical steps

    As a first step, the Albanese government urgently needs to commission an integrated National Security Strategy that considers all the tools of statecraft Australia can use to respond to these challenges.

    This means engaging more with partners in Southeast Asia and the Pacific. In particular, Australia should consider investing more heavily in information programs and public diplomacy as the US withdraws from this arena.

    The government must also engage better with the public and be more transparent about its security options and decisions.

    On AUKUS, for instance, the government must build its “social licence” from the public to sustain such a massive deal across generations. Australians need to be better informed about – and consulted on – the decisions they will ultimately pay for.

    This also includes being upfront with Australians about the need for greater defence spending in a tumultuous world.

    It is understandably tempting for the new Albanese government to continue a “small target” approach when it comes to the US. This has meant minimising domestic debate about the alliance that could undermine support for AUKUS and avoid risking the ire of a thin-skinned Trump.

    But the government needs the courage to ask difficult questions and imagine different futures.

    Joanne Wallis receives funding from the Australian Research Council, the Australian Department of Defence, and the government of South Australia. She is a Senior Nonresident Fellow of the Brookings Institution in Washington, D.C.

    Rebecca Strating receives funding from the Australian Department of Foreign Affairs and Trade.

    – ref. After its landslide win, Labor should have courage and confidence on security – and our alliance with the US – https://theconversation.com/after-its-landslide-win-labor-should-have-courage-and-confidence-on-security-and-our-alliance-with-the-us-255598

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Russia: China’s SAIC Motor signs deal for joint electric vehicle brand with Huawei

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    SHANGHAI, May 4 (Xinhua) — Shanghai-based Chinese automaker SAIC Motor on Thursday signed an agreement to set up a plant to produce vehicles and auxiliary battery units for its new electric vehicle (EV) brand, developed jointly with telecom giant Huawei, in the Lingang New Area of China’s Shanghai Pilot Free Trade Zone (FTZ).

    According to SAIC Motor, the plant’s production capacity at the initial stage of the project will be about 250,000 vehicles per year.

    The move follows a partnership formed earlier this year between SAIC Motor and Huawei. In February this year, the two companies signed an in-depth cooperation agreement to jointly launch the SAIC Shangjie brand.

    Tech giant Huawei is already collaborating with four other EV brands, namely AITO, Luxeed, Stelato and Maextro, under its Harmony Intelligent Mobility Alliance (HIMA). Tech support from Huawei, such as adaptive driver assistance and AI cockpit solutions, has given new impetus to partner automakers.

    SAIC Shangjie brand products will be equipped with Huawei’s intelligent mobility solutions, said Zhu Yong, head of SAIC ShangJie, adding that the intelligent electric vehicles will target the mid- to high-end market, with customers mainly including household consumers and young office workers.

    The first model under this brand is a mainstream SUV priced at around 200,000 /around $27,800/, which is expected to hit the market this fall. The SUV will be available in two versions: a pure electric version and an extended range version. The pure electric model will have a range of over 600 km on a full charge.

    By joining the HIMA family, SAIC Shangjie brand will help further lower the price range of cars co-developed with Huawei to 200,000 yuan to better tap the vast market, Zhu Yong said.

    SAIC Shangjie’s project is expected to increase the scale of the already leading new energy vehicle (NEV) industry in Lingang New Area, home to Tesla’s Shanghai Gigafactory, to 300 billion yuan, said Li Xiangcun, an official with the Lingang New Area Administrative Committee.

    Currently, there are more than 200 automobile-related companies in the Lingang New Area, forming an ecosystem covering automobile production, research, development and testing. -0-

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Trade negotiations with India commence

    Source: New Zealand Government

    Following significant engagement over the last month, the first in-person round of negotiations towards a comprehensive India New Zealand Free Trade Agreement (FTA) will take place in India this week. 

    This follows the highly successful visit to India last year by Deputy Prime Minister, Winston Peters and the formal launch of negotiations by Minster for Trade and Investment, Todd McClay and Indian Minister of Commerce and Industry, Piyush Goyal during the Prime Minister’s large trade mission to New Delhi in April.

    “This is an important step in our trade relationship with India and signals the two Governments’ intent to deliver a high quality outcome that benefits both countries,” Mr McClay says.

    “With a population of 1.4 billion and a GDP estimated to grow to USD $5.2 trillion by 2030, India offers significant opportunity for New Zealand exporters,” Mr McClay says.

    “Strengthening ties with India across the board is a key part of the Government’s broader strategy to diversify and grow New Zealand’s export markets and double trade by value in 10 years.

    MIL OSI New Zealand News –