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Category: Transport

  • MIL-OSI USA: Congressional AI Caucus Democrats’ Statement on President Trump’s AI Action Plan and AI Executive Orders

    Source: United States House of Representatives – Representative Don Beyer (D-VA)

    Congressional Artificial Intelligence (AI) Caucus Chair Don Beyer (D-VA), Vice Chair Doris Matsui (D-CA), and Democratic Members of the Caucus Reps. Suzanne Bonamici (D-OR), Valerie Foushee (D-NC), Hank Johnson (D-GA), Sarah McBride (D-DE), Jim McGovern (D-MA), and Rob Menendez (D-NJ) today issued the following statement on the Trump Administration’s AI Action Plan and executive orders on AI:

    “We are deeply concerned about the impacts of President Trump’s AI Action Plan and the executive orders announced yesterday. 

    “The President’s Executive Order on “Preventing Woke AI in the Federal Government” and policies on ‘AI neutrality’ are counterproductive to responsible AI development and use, and potentially dangerous. To be clear, we support true AI neutrality—AI models trained on facts and science—but the administration’s fixation on ‘anti-woke’ inputs is definitionally not neutral. This sends a clear message to AI developers: align with Trump’s ideology or pay the price. We have already seen private technology companies rewarded for catering to the Administration, including the Administration awarding a wildly inappropriate $200 million Pentagon contract for Elon Musk’s Grok AI despite that platform’s recent history of racist misinformation, antisemitism, and support for Adolf Hitler – which were prompted by the very ‘anti-woke’ training this order envisions.

    “We are also alarmed by the absence of regulatory structure in this AI Action Plan to ensure the responsible development, deployment, or use of AI models, and the apparent targeting of state-level regulations. As AI is integrated with daily life and tech leaders develop more powerful models, such as Artificial General Intelligence, responsible innovation must go hand in hand with appropriate safety guardrails.  In the absence of any meaningful federal alternative, our states are taking the lead in embracing common-sense safeguards to protect the public, build consumer trust, and ensure innovation and competition can continue to thrive. We are deeply concerned that the AI Action Plan would open the door to forcing states to forfeit their ability to protect the public from the escalating risks of AI, by jeopardizing states’ ability to access critical federal funding. And instead of providing a sorely needed federal regulatory framework that promotes safe model development, deployment, and use, Trump’s plan simultaneously limits states and creates a ‘wild west’ for tech companies, giving them free rein to develop and deploy models with no accountability. 

    “Finally, we are concerned about the implications of the Executive Order on ‘Accelerating Federal Permitting of Data Center Infrastructure’ for energy costs, demand on the grid, and the environment. AI training and inferencing have already driven up energy demand in the U.S, with ratepayers seeing higher utility prices due to the development of data centers. Trump recently signed partisan legislation that will significantly undercut clean energy projects, driving up costs and leaving us more reliant on dirty, polluting energy sources – trends which this plan will worsen considerably. At a time when Trump himself has increased the need for energy efficiency in AI development and deployment, this plan will do the opposite while increasing harm on the environment.

    “While there are policies in the Action Plan that we agree with, including support for AI-driven science, improving AI evaluations and providing testing resources, and putting our American workforce first, we are deeply concerned about the partisan policies included in the Action Plan and Executive Orders that poison what should have been a good-faith, non-partisan effort. We will closely monitor the implementation of these policies, and will continue to advocate for the responsible development, deployment, and use of AI.”

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI United Kingdom: ‘Plan ahead’ message as city gears up for IRONMAN Leeds triathlon

    Source: City of Leeds

    People in Leeds are being asked to take note of the traffic and travel arrangements that have formed a key part of the planning for a major new sporting event.

    The inaugural IRONMAN Leeds triathlon is being held this Sunday, July 27, with around 2,500 athletes set to push themselves to the limit as they tackle a 2.4-mile swim in Roundhay Park’s Waterloo Lake followed by a 112-mile bike ride and a 26-mile run.

    A wide-ranging programme of temporary road closures will be in place in and around north Leeds to ensure that the event – which is being organised by the IRONMAN Group with support from Leeds City Council – passes off safely and smoothly.

    And, with the final countdown to the big day now under way, residents are being encouraged to take a few minutes to acquaint themselves with the closure timings and locations.

    Significant traffic disruption is expected, with the epic nature of the event – and the lengthy race times that come with it – meaning restrictions will be in force for much of Sunday.

    The IRONMAN team has been working hard to publicise the plans for the day, with a total of 60,000 information leaflets being distributed to local properties.

    More than 100 businesses in affected areas have also received direct e-mails with details about the event that they can share with their staff and customers.

    Vehicle crossing locations will be dotted along the cycling and running routes, while full emergency service road access will be maintained throughout. Pedestrians will be able to cross the routes at any point, provided it is safe to do so.

    People with enquiries regarding road access – including carers who need to carry out home visits – are asked to contact the IRONMAN team via leeds@ironmanroadaccess.com or 03330 116600.

    Enquiries about other IRONMAN-related matters should be e-mailed to leeds@ironman.com.

    Leeds is one of only two places in the UK hosting a full IRONMAN challenge in 2025, with previous events in locations such as Bolton and Pembrokeshire generating millions of pounds for their local economies.

    Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said:

    “IRONMAN Leeds promises to be a fantastic occasion, and one that will further strengthen our city’s reputation as a respected host of high-profile sporting events.

    “The exploits of local triathletes such as the Brownlee brothers have given Leeds a real interest in this sport, so hopefully people will be turning out in numbers on Sunday to support the competitors in Roundhay Park and along the rest of the course.

    “The road closures that are needed for the safe operation of the event will inevitably cause some disruption and we thank the public in advance for their patience and understanding.

    “Please do take the time, if you haven’t already, to familiarise yourself with all the relevant traffic and travel arrangements and how they might affect your plans.”

    IRONMAN Leeds will have a staggered start, with the first swimmers venturing into Waterloo Lake from 6am on Sunday.

    The event’s second discipline, the bike race, begins and ends in Roundhay Park and will cover three loops of a circular route that runs through or near communities such as Shadwell, Thorner, Bardsey, Wike, Harewood, Eccup, Arthington, Adel and Alwoodley.

    Roads that will be affected by the closure programme needed for this part of the day include:

    • Carr Lane between Shadwell and Thorner (closed 6am to 3.30pm)
    • Bramham Road and part of Thorner Road, both to the east of Thorner (closed 6am to 3.30pm)
    • The A61 Harrogate Road between the A659 at Harewood and Wike Lane (closed 7am to 4.30pm)
    • The A61 Harrogate Road between Wike Lane and Wigton Approach, near the Grammar School at Leeds (closed 7am to 5.30pm)
    • Alwoodley Lane between its junctions with King Lane and the A61 Harrogate Road (closed eastbound 7.30am to 5.30pm)

    IRONMAN Leeds’s third and final discipline, the run, will follow a looped course that takes in the western side of Roundhay Park and a host of residential streets in the wider Roundhay area.

    Athletes are expected to start crossing the finishing line – which will be located near the park’s cricket pavilion – from around 2pm.

    Spectators heading to this area to cheer the runners home can look forward to a party atmosphere as well as food stalls, music and other attractions.

    Roads in Roundhay that will be closed for much of Sunday to facilitate both the run and general event access include North Park Grove, Gledhow Avenue, Jackson Avenue, Old Park Road and the stretch of Street Lane between Devonshire Avenue and Princes Avenue. Park Avenue will be closed near the Lakeside Cafe from 6am on Saturday until 5pm on Monday (July 28).

    Tropical World will be open as normal throughout the event.

    Lewis Peacock, race director for IRONMAN Leeds, said:

    “We can’t wait to welcome thousands of athletes to the home of triathlon as the very first IRONMAN Leeds heads to town.

    “It’s set to be an incredible day of racing and a great moment to have a full distance IRONMAN race return to England for the first time since 2023.

    “The spectator support in Roundhay Park is expected to be massive, so make sure you head down to soak up the atmosphere!”  

    Further information about road closures along the cycling and running routes – together with suggested diversions for people wanting to drive to Harewood House on Sunday – can be found here.

    ENDS

    MIL OSI United Kingdom –

    July 25, 2025

  • MIL-OSI Canada: Picture this! Record-level funding for the arts | Imaginez ça! Un financement record pour les arts

    [?being, and driving economic development. By championing a vibrant arts sector through public art galleries, visual and performing arts and arts service organizations, Alberta’s unique culture and history are preserved and shared in communities across the province.

    Alberta’s government is further strengthening direct support for artists and expanding access to the arts, by bringing total arts funding to a record $36.1 million. This includes a responsible, steady $4.5?million increase for the Alberta Foundation for the Arts (AFA) as part of our multi-year commitment that will grow AFA funding to more than $43 million annually by 2027-28.

    “Alberta is home to thousands of gifted artists who are a vital part of our economy, with arts industries contributing more than $1.3 billion in GDP each year and supporting more than 18,000 jobs. Our government is proud to sustain the highest level of arts funding in Alberta’s history, strengthening communities and enhancing quality of life for all Albertans.”

    Tanya Fir, Minister of Arts, Culture and Status of Women

    “I want to express our appreciation for the Alberta government’s commitment to increasing funding to the AFA for the second consecutive year. This year, our focus has been to raise the level of AFA funding support for arts organizations. With this additional funding, we will be able to significantly impact more than 400 Alberta organizations. This follows the extra funding that we were able to give to more than 700 individual artists last year. We are proud of our role in investing in Alberta artists, art and cultural materials.”

    Cynthia Moore, chair, Alberta Foundation for the Arts

    Alberta’s government provides grant funding to the arts sector through the AFA in three important ways:

    • Operational grants to arts-based organizations that create and provide access to art experiences and generate job opportunities for artists and cultural workers.
    • Project grants to non-profit organizations, including schools, to increase capacity and/or accessibility for arts-related activities.
    • Project grants and awards for individual artists that can support art production or creation, research, marketing, or training and professional development.

    “Alberta Ballet is best known for its artistry on the Jubilee stages in Edmonton and Calgary. What is less known is how funding from the Alberta Foundation for the Arts fuels Alberta Ballet’s growing impact across the province. With this support, Alberta Ballet is building a stronger arts ecosystem and lasting connections in cities throughout Alberta.” 

    Chris George, president and chief executive officer, Alberta Ballet 

    “For Shumka, this increase in funding means more than just financial support. It’s an investment in creativity, in cultural heritage, and in the people who bring stories to life through dance. As we look ahead, this support helps ensure that the legacy of Shumka, more than 60 years strong, continues to evolve and inspire future generations. Thank you to the Government of Alberta and the Alberta Foundation for the Arts for believing in the power of the arts, and for recognizing the value that organizations like ours bring to the cultural fabric of Alberta.”

    Tasha Orysiuk, artistic director, Canada’s Ukrainian Shumka Dancers

    Alberta proudly supports the arts and, through the AFA, is dedicated to empowering artists and arts organizations across the province. Since April 2025, the AFA has already approved $19.1 million in grant funding to 223 arts organizations and 192 individual artists.

    Quick facts

    • The 2025 budget for Arts is $36.1 million, including $34.6 million for the AFA. Funding for the AFA increased by $4.5 million.
    • In 2024-25, the AFA provided $20.4 million through 656 grants to organizations as well as $5.2 million through 446 individual arts grants to support their activities.
    • In 2024-25, the AFA increased the maximum eligible amount for its project grant programs for artists to $18,000 and nearly doubled the total number grants awarded to artists.
    • In 2023, the visual and applied arts and live performance industries contributed approximately $1.3 billion in GDP and sustained over 18,000 jobs in Alberta.

    Related information

    • Alberta Foundation for the Arts

    Multimedia

    • Watch the news conference

    Le budget de 2025 prévoit 4,5 millions de dollars pour soutenir les artistes par l’intermédiaire de l’Alberta Foundation for the Arts (AFA). Ce financement sans précédent continue de stimuler le secteur artistique albertain.

    Les arts jouent un rôle essentiel dans la qualité de vie des Albertaines et des Albertains. Ils favorisent la santé et le bien-être, et ils stimulent le développement économique. En soutenant le dynamisme du secteur artistique — dans les galeries d’art publiques, grâce aux arts visuels et de la scène et par l’intermédiaire des organismes de services artistiques —, le caractère unique de la culture et de l’histoire de l’Alberta est préservé et présenté aux collectivités de toute la province.

    Le gouvernement de l’Alberta renforce encore davantage le soutien qu’il offre directement aux artistes, en plus d’élargir l’accès de la population aux arts, en portant le financement total au secteur à un niveau record de 36,1 millions de dollars. Ce financement comprend une augmentation mesurée et stable de 4,5 millions de dollars à l’Alberta Foundation for the Arts dans le cadre d’un engagement pluriannuel qui portera le financement annuel de l’organisme à plus de 43 millions de dollars d’ici à 2027-2028.

    « L’Alberta est le foyer de milliers d’artistes talentueux qui jouent un rôle essentiel dans notre économie. En effet, les industries artistiques contribuent à plus de 1,3 milliard de dollars au PIB chaque année et elles soutiennent plus de 18 000 emplois. Notre gouvernement est fier de maintenir le niveau de financement aux arts le plus élevé de toute l’histoire de l’Alberta, financement qui permet de renforcer les collectivités et d’améliorer la qualité de vie de toute la population. » 

    Tanya Fir, ministre des Arts, de la Culture et de la Condition féminine

    « Au nom de l’AFA, je remercie le gouvernement de l’Alberta d’augmenter le financement de l’AFA pour une deuxième année consécutive. Cette année, nous nous concentrons sur l’augmentation du soutien financier aux organismes artistiques. Grâce à ce financement supplémentaire, nous jouerons un rôle déterminant dans le succès de plus de 400 organismes en Alberta. Cette augmentation s’ajoute au financement additionnel que nous avons pu accorder à plus de 700 artistes l’an dernier. Nous sommes fiers de participer activement à la valorisation des artistes, du secteur des arts et du patrimoine culturel de l’Alberta. »

    Cynthia Moore, présidente, Alberta Foundation for the Arts

    Le gouvernement de l’Alberta, par l’intermédiaire de l’AFA, offre les trois grands volets de subvention suivants au secteur artistique :

    • Subventions de fonctionnement aux organismes qui créent et offrent des expériences artistiques et génèrent des emplois pour les artistes et les travailleurs culturels.
    • Subventions de projet aux organismes sans but lucratif, y compris les écoles, pour accroître la création d’activités artistiques ou leur accessibilité.
    • Subventions de projet et prix à l’intention d’individus, qui permettent de soutenir la production ou la création artistique, la recherche, le marketing, la formation ou le perfectionnement professionnel.

    « L’organisme Alberta Ballet a fait sa renommée sur les scènes des auditoriums Jubilee à Edmonton et à Calgary. Ce que l’on sait moins, c’est que le financement de l’Alberta Foundation for the Arts est au cœur du rayonnement croissant d’Alberta Ballet dans la province. Grâce à ce soutien, notre organisme renforce l’écosystème artistique et crée des liens durables dans les villes de l’Alberta. »

    Chris George, président-directeur général, Alberta Ballet

    « Pour Shumka, ce financement accru signifie bien plus qu’un apport financier. C’est un investissement dans la créativité, dans le patrimoine culturel et dans les personnes qui donnent vie à des récits par la danse. En regardant vers l’avenir, nous savons que ce soutien contribue à assurer que l’héritage de Shumka, fort de plus de 60 ans, continue d’évoluer et d’inspirer les générations futures. Nous remercions le gouvernement de l’Alberta et l’AFA de croire au pouvoir des arts et de reconnaître la valeur que les organismes comme le nôtre apportent au tissu culturel de l’Alberta. »

    Tasha Orysiuk, directrice artistique, troupe des Ukrainian Shumka Dancers du Canada

    L’Alberta soutient fièrement les arts et, par l’intermédiaire de l’AFA, elle s’engage à autonomiser les artistes et les organismes artistiques de toute la province. Depuis avril 2025, l’AFA a déjà approuvé 19,1 millions de dollars en subventions destinés à 223 organismes artistiques et à 192 artistes.

    En bref

    • Le budget de 2025 attribué aux arts est de 36,1 millions de dollars, dont 34,6 millions à l’AFA. Le financement de l’AFA a augmenté de 4,5 millions.
    • En 2024-2025, l’AFA a accordé 656 subventions à des organismes artistiques, pour un total de 20,4 millions de dollars, ainsi que 446 subventions à des artistes, pour un total de 5,2 millions de dollars.
    • En 2024-2025, l’AFA a augmenté à 18 000 $ le montant maximal admissible dans le cadre de ses programmes de subventions de projet d’artistes et l’organisme a presque doublé le nombre total de subventions accordées.
    • En 2023, les arts visuels, les arts appliqués et les arts de la scène ont contribué à environ 1,3 milliard de dollars au PIB et soutenu plus de 18 000 emplois en Alberta.

    Renseignements connexes (en anglais seulement)

    • Alberta Foundation for the Arts

    Multimédia

    • Regarder la conférence de presse

    MIL OSI Canada News –

    July 25, 2025

  • MIL-OSI: The CMA: Compensation for Investors Affected by Violations Committed in the Shares of “Watani Iron Steel Co.”

    Source: GlobeNewswire (MIL-OSI)

    RIYADH, Saudi Arabia, July 24, 2025 (GLOBE NEWSWIRE) — The Capital Market Authority (CMA) announces the completion of compensation for investors affected by the violations committed in the shares of Watani Iron Steel Co., which occurred before and after the company’s direct listing on the Parallel Market (Nomu). These violations were committed by five individuals convicted under the decision issued by the Appeal Committee for Resolution of Securities Disputes (ACRSD), published on the websites of the CMA and the GS-CRSD on April 4, 2024. The decision, resulting from the penal lawsuit filed by the Public Prosecution and referred by the Capital Market Authority, obligated them to pay SAR 41.4 million in illegal gains resulting from these violations.

    The compensations were deposited into the accounts of the affected investors through the Compensation Fund, which was established pursuant to a resolution of the CMA’s Board to compensate affected parties in accordance with the distribution plan approved by the CRSD. This facilitates the compensation process and ensures that entitlements are delivered to their rightful owners with minimal effort.

    Since the publication of the ACRSD’s decision, the CMA has worked on assessing the appropriateness of activating Article (59) of the Capital Market Law, which grants the CMA the power to organize compensation procedures for individuals affected by violations and to establish dedicated compensation funds sourced from illegally obtained gains. Compensation for affected individuals is carried out in accordance with a distribution plan approved by the Committee. This led to the establishment of this fund to compensate eligible parties under a distribution plan approved by a decision of the CRSD, in line with the rules, procedures, and legal provisions to enhance the efficiency of these funds.

    The approved distribution plan was designed in proportion to the scale of the violations committed, the value of the illegal gains realized from those violations, and the extent of harm suffered by investors who traded the company’s shares during the violation period. Compensation amounts for some investors reached more than one million Saudi Riyals, representing the highest compensation approved by the CRSD. In this context, the CMA affirms that the distribution plan approved by the CRSD included all individuals proven to have suffered harm, based on the technical records. This does not preclude the right of any individual who believes they have been harmed but was not included in the distribution plan to file an individual claim with the CRSD to seek compensation.

    Compensation funds complement the mechanisms that facilitate compensating investors affected by violations committed in the capital market. They add to the available avenues for compensation, such as individual lawsuits and class actions. The CMA adopts a set of criteria to determine the appropriateness of establishing a compensation fund using illegal obtained gains from violators whenever the facts and circumstances of a case indicate the existence of actual harmed parties and when the CMA deems that creating such a fund would be more effective and practical than other available means of compensation for damages sustained by market participants as a result of violations of the Capital Market Law and its implementing regulations. The CMA clarified that it employs a range of analytical tools to reach a systematic assessment regarding the suitability of establishing a compensation fund based on final decisions issued by the CRSD. This assessment relies on several criteria that help determine the most suitable compensation mechanism, whether through direct compensation via these funds or through class actions to claim compensation. These criteria include aspects related to the execution and collection of illegally obtained gains, the nature and number of violations committed, their impact, and the extent to which the Committees can adopt and practically apply the principle of compensation to all affected parties in the case under review.

    The CMA affirms that, in the context of enhancing compensation opportunities, it has carefully studied global best practices applied in capital markets and adopted what aligns with the nature of the Saudi capital market. This contributes to improving the efficiency of compensation mechanisms, strengthening investor confidence in the market, and protecting their rights. These efforts form part of a broader package of strategic initiatives launched by the CMA to advance the development of a more sophisticated and competitive financial ecosystem.

    Capital Market Authority
    Communication & Investor Protection Division
    +966114906009
    +966557666932
    Media@cma.org.sa
    www.cma.org.sa

    The MIL Network –

    July 25, 2025

  • MIL-OSI Submissions: The US has sanctioned UN special rapporteur Francesca Albanese – here’s why she’s the wrong target

    Source: The Conversation – UK – By Alvina Hoffmann, Lecturer in Diplomatic Studies, Department of Politics and International Studies, SOAS, University of London

    The United States has imposed sanctions against the UN’s special rapporteur in the Palestinian territories, Francesca Albanese. It’s an unprecedented situation. The US secretary of state, Marco Rubio, cited as the reason her direct engagement with the International Criminal Court “in efforts to investigate, arrest, detain, or prosecute nationals of the United States or Israel”.

    The statement also described Albanese’s “threatening letters to dozens of entities worldwide, including major American companies” as an escalation of her strategies. The sanctions were framed as preventing “illegitimate ICC overreach and abuse of power” and as part of Trump’s Executive Order 14203 on imposing sanctions on the ICC.

    This raises the question: who are special rapporteurs and why would Albanese’s performance of her role elicit such a strong reaction from the US? Special rapporteurs are independent human rights experts, part of the UN Human Rights Council’s special procedures system established in 1979. There are 46 “thematic mandates” on issues such as extrajudicial killings, enforced disappearances and the environment, and 14 “country mandates”, including in Palestine.

    Experts on human rights from academia, advocacy, law and other relevant professional fields are appointed to fulfil a variety of tasks. These include undertaking country visits, sending communications to states about individual cases of human rights violations, developing international human rights standards, engaging in advocacy and providing technical cooperation based on their legal and thematic expertise.

    In 1967, 22 years after it was set up, the United Nations established institutional provisions for independent experts on human rights. This happened first in 1967 when it appointed an ad hoc working group of experts on apartheid and racial discrimination in southern Africa. In 1968 the same group of experts was appointed to investigate “Israeli Practices Affecting the Human Rights of the Palestinian People and Other Arabs of the Occupied Territories”. This is still in place today.

    Neither South Africa nor Israel allowed experts to enter their territories to inspect their human rights record at the time. But in 2003, nearly a decade after it first held democratic elections, South Africa issued a standing invitation to all thematic special procedures, meaning they committed themselves, at least in theory, to always accept requests to visit from rapporteurs.

    Attacks on individual rapporteurs

    Albanese, a specialist in international human rights law, is the eighth rapporteur since the creation of her mandate in 1993. She was appointed to this pro bono position in 2022 for three years, and her mandate was recently renewed for another period of three years.

    It was her most recent report from June 30 which led to her being sanctioned by the US. The report focused on the role of the corporate sector in “colonial endeavours and associated genocides” and named over 60 companies as “complicit”.

    A host of institutions and leading human rights figures have come to her defence. Agnes Callamard, a former special rapporteur on extrajudicial killings, now the secretary general of Amnesty international noted the “chilling effects for all special rapporteurs” of the US decision. Top UN human rights officials denounced this dangerous precedent and called for its reversal.

    In February 2024, the government of Israel declared Albanese persona non grata in response to her remark that “the victims of the October 7 massacre were not murdered because of their Jewishness, but in response to Israeli oppression”. As with the newly imposed sanctions, she called this step a distraction and called upon the world to keep their focus on Gaza.

    Diplomatic immunity

    Special rapporteurs are granted diplomatic immunity which, in theory, should enable them to speak up or write critical reports without the fear of reprisals. But in 1989 and 1999 the ICJ had to intervene with an advisory opinion on two cases when this status was jeopardised after the home countries of two special rapporteurs tried to restrict their freedom of speech. This involved Romanian national Dumitru Mazilu, tasked with writing a report on “Human rights and youth”, and Malaysian national Dato’ Param Cumaraswamy, special rapporteur on the independence of judges and lawyers.

    Special rapporteurs wrote a collective letter denouncing the second case, when the Malaysian government filed several legal proceedings against Cumaraswamy. The body of experts called this “judicial harassment of a special rapporteur” and “a challenge to the status of the United Nations as a whole, its officials and its experts on mission”.

    Special rapporteurs occupy an ambiguous institutional position. They take their mandate from the Human Rights Council, but they act in their personal capacity, and hence are not considered to be UN officials. In practice, they need to balance relations carefully between the UN secretariat, civil society, state representatives and, at times, their own countries.

    The advisory opinions helped clarify that it was the secretary general, as the head of the United Nations, that entrusts them with the privileges of diplomatic immunity. The arrangement also leaves the door open for national courts to disagree with the secretary general. This enabled individual countries in some cases to exercise some form of control over their own nationals.

    The recent attack on Albanese adds to the broader budgetary crisis of the UN, as the Trump administration is withholding funds of about US$1.5 billion (£1.2 billion) in addition to other countries such as China, Russia and Saudi Arabia. These are serious challenges for the UN human rights and humanitarian aid programmes. As past cases of attacks against individual rapporteurs have shown, it is important for all rapporteurs to stand together as one body and defend the integrity of the system as a whole.

    Despite these attacks on her integrity and person, Albanese maintains faith in the human rights law instruments. As she stated during a public talk I attended at SOAS University of London in November 2024, we are yet to unlock the full potential of these instruments. This can only be done as a collective.

    Alvina Hoffmann has previously been funded by the Economic and Social Research Council (UKRI).

    – ref. The US has sanctioned UN special rapporteur Francesca Albanese – here’s why she’s the wrong target – https://theconversation.com/the-us-has-sanctioned-un-special-rapporteur-francesca-albanese-heres-why-shes-the-wrong-target-261788

    MIL OSI –

    July 25, 2025

  • MIL-OSI Analysis: Thailand and Cambodia’s escalating conflict has roots in century-old border dispute

    Source: The Conversation – UK – By Petra Alderman, Manager of the Saw Swee Hock Southeast Asia Centre, London School of Economics and Political Science

    There has been a dramatic escalation in a long-running border conflict between Thailand and Cambodia. On July 23, five Thai soldiers from a border patrol unit in Ubon Ratchathani province were seriously injured after stepping on a land mine – a second such incident in a week.

    This prompted the Thai government to expel Cambodia’s ambassador from the country and recall its own ambassador from Cambodia. The following morning, Cambodia retaliated by expelling the Thai ambassador and recalling its embassy staff from Bangkok. Both sides have exchanged increasingly lethal fire.

    Cambodia has fired rockets and artillery across the Thai border into several provinces, killing at least 11 civilians and one soldier. Thailand launched air strikes at Cambodia in return, reportedly targeting military bases in the disputed area around the Preah Vihear Hindu temple. Verified information is currently scarce as both sides are blaming each other for starting the fight.

    The current flare-up started in late May, when a Cambodian soldier was killed in a exchange of fire between the two armies. But the roots of the conflict date back to the colonial era in the 19th and early 20th centuries.

    Before European powers expanded their colonial interests to south-east Asia, the concept of a bordered nation-state was alien to local rulers. Life in pre-colonial south-east Asia was organised into loosely structured polities that had no clear boundaries.

    There were several larger cities, which served as important centres of power and trade, and many smaller towns and villages that maintained relations with these cities. The further these towns and villages were from the cities, the less control and influence the cities had over them.

    The British and French introduced the concept of nations with borders to mainland south-east Asia, drawing the first official maps of Thailand (then known as Siam) and Cambodia. In the case of Thailand, the only south-east Asian nation never to be formally colonised, the mapping was also done at the request of the Siamese kings.

    Thailand’s current borders were shaped by several different maps and treaties that followed the 1893 Paknam incident, during which two French gunboats sailed up the Chao Praya River and blockaded Bangkok.

    To preserve its sovereignty as an emerging nation, Siam ceded considerable territorial claims to France after this incident. This included several provinces in present-day Cambodia, which are home to ancient temples.

    A 1907 map drawn by the French defined these territories, although with a considerable degree of vagueness. The map became a sore point in Cambodia-Thai relations following Cambodia’s independence in 1953, especially in regard to disputes over the Preah Vihear temple.

    Preah Vihear temple

    Following France’s withdrawal from south-east Asia in 1954, Thailand occupied Preah Vihear. Cambodia raised the issue of Thai occupation with the International Court of Justice (ICJ), which ruled in 1962 that the temple belonged to Cambodia based on the French map. Thailand reluctantly accepted the ruling, but continued to dispute the area surrounding the temple.

    The conflict flared up again in 2008 when the UN world heritage body Unesco awarded the temple world heritage status. Cambodia’s application initially received support from the then new Thai government of prime minister Samak Sundaravej, a close ally of the recently ousted Thaksin Shinawatra.

    Anti-Thaksin groups used the government’s support to drive an ultra-nationalist campaign against the Samak government. This eventually contributed to large-scale domestic political protests that saw Samak’s government and that of his successor, Somchai Wongsawat, both ousted from power in 2008 in a series of judicial coups.

    The period from 2008 to 2011 was marked by high tensions between the two countries, with sporadic armed clashes between their respective armies in the areas surrounding the temple.

    The newly appointed Thai government of Abhisit Vejjajiva was sympathetic towards the ultra-nationalist anti-Thaksin groups. So there was no de-escalation of the conflict from the Thai side. Hun Sen, who was then Cambodia’s prime minister, also benefited from the conflict as it helped buttress his nationalist credentials.

    But a particularly violent round of armed clashes followed in February 2011, resulting in at least eight civilian fatalities, 20 injured soldiers and many displaced civilians on both sides. Hun Sen then raised the issue of Cambodian sovereignty over the temple and its surrounding area with the ICJ.

    The ICJ issued a provisional ruling favouring Cambodia and ordered both sides to withdraw military personnel from the area. Despite the initial refusal of Thai troops to leave, the two countries agreed to withdraw their forces in December 2011.

    The final ICJ ruling came in late 2013, again affirming Cambodia’s sovereignty of the area. It coincided with another period of domestic political instability in Thailand. The government of Yingluck Shinawatra, Thaksin’s younger sister, was facing mass public protests from anti-Thaksin groups.

    While the ruling did not play a decisive role in the eventual downfall of her government, it added fuel to the already explosive political environment. The border conflict went largely dormant after the 2013 ICJ ruling, until the new round of clashes broke out in May 2025.

    Thai and Cambodian troops have periodically clashed in the area surrounding the Preah Vihear temple.
    Kim Za / Shutterstock

    Given the history of tensions and armed disputes over territory between Cambodia and Thailand, the recent escalation is not without precedent. What is new, though, is that this round is as much between two countries as it is between two ruling families.

    Over the past 20 years, a close personal relationship formed between Hun Sen and Thaksin. But this relationship unravelled when Hun Sen, who remains a hugely influential figure in Cambodian politics, released a private audio recording of his call with Thaksin’s daughter, Paetongtarn. The leak put her premiership on the line.

    Paetongtarn has since been suspended from office pending a court ruling, with Cambodia-Thai relations reaching new lows. Given the intermixing of personal animosities, a quick diplomatic resolution to the escalating conflict seems unlikely.



    Read more:
    A border conflict may cost the Thai prime minister her job

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Petra Alderman 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. Thailand and Cambodia’s escalating conflict has roots in century-old border dispute – https://theconversation.com/thailand-and-cambodias-escalating-conflict-has-roots-in-century-old-border-dispute-261873

    MIL OSI Analysis –

    July 25, 2025

  • MIL-OSI Canada: Crop Report for the Period July 15 to July 21, 2025

    Source: Government of Canada regional news

    Released on July 24, 2025

    The rain that fell through wide parts of the province over the weekend was a positive sign for many producers. However, even within regions that received the rain the impact on crop and pasture conditions was variable. In some areas, the rain came just in time to carry crops forward through flowering and grain fill, while in other areas the rain came too late to make a difference to crops or pastures. 

    For areas that received precipitation, producers are hopeful pasture grass recovers from grazing and stress from dry conditions. In areas where heavy rain was received, livestock water sources should see some replenishment, reducing the need to haul water for livestock. 

    The cooler weather and recent rainfall have helped sustain or improve topsoil moisture in the province. Topsoil moisture is highly variable region to region, but most regions have seen an increase in ratings after the recent rainfall. Provincially, cropland topsoil moisture is rated as two per cent surplus, 71 per cent adequate, 22 per cent short and five per cent very short. Hayland topsoil moisture is rated as one per cent surplus, 60 per cent adequate, 30 per cent short and nine per cent very short. Lastly, pasture topsoil moisture is rated as 59 per cent adequate, 30 per cent short and 11 per cent very short. 

    The rain, along with the cool weather, will give crops a break from the lack of moisture they have been under and will help them fill. The Eston area reported the most rain this week with 83 millimetres (mm), followed by the Bethune area with 74 mm, and finally the Admiral area reported 68 mm. There were many areas that reported rainfall from 15 mm to 50 mm, while other areas saw rainfall ranging from 2 mm to 15 mm.

    Crop development has leveled out closer to normal for the province, and crops should use the recent rain and cooler temperatures to develop at a regular pace rather than rush or delay development due to stress. Crop development varies from region to region, with drier areas showing the most accelerated crop development.

    The rain impeded haying operations over the weekend as producers waited for the crop to dry before proceeding with baling. Haying operations are almost complete with 20 per cent standing, 21 per cent cut and 59 per cent baled or put up as silage. Hay quality is rated as nine per cent excellent, 55 per cent good, 31 per cent fair and five per cent poor. 

    Producers report their crops are still showing damage and stress from the numerous weeks of heat and overly dry conditions this growing season. Gophers and grasshoppers are causing minor to moderate damage to crops this week with some areas seeing higher damage depending on pest populations. With the large amounts of rainfall seen in some areas, flooding was a concern for some producers as low spots in their fields have filled with water. The rain and strong winds have led to cereal crops lodging across many regions, and producers are hopeful the damage is minor and their crops can recover in time for harvest.

    Producers whose crops are furthest along are beginning to get their equipment ready. The Ministry of Agriculture reminds producers to operate safely during the pressures of harvest time. Please remember to use every precaution available for fire prevention as the extremely dry conditions increase the risk of combine and grass fires.

    Over the upcoming weeks, producers will be busy finishing fungicide spraying, haying and getting equipment ready for harvest. Producers are reminded to keep safety top of mind while working.

    For any crop or livestock questions, producers are encouraged to call the Agriculture Knowledge Centre, toll free: 1-866-457-2377.

    This can be a stressful time of year for producers as weather conditions can be unpredictable. The Farm Stress Line can help by providing support for producers toll free at 1-800-667-4442.

    A complete, printable version of the Crop Report is available online.

    Follow the 2025 Crop Report on Twitter at @SKAgriculture.

    -30-

    For more information, contact:

    MIL OSI Canada News –

    July 25, 2025

  • MIL-OSI Security: Illegal Alien Caught Dragging Trafficked Woman Back to Captivity Arrested After His Removal Proceedings Were Terminated by Biden Administration

    Source: US Department of Homeland Security

    ICE immediately lodged an arrest detainer to ensure this criminal illegal alien will never be released into American communities

    WASHINGTON — On July 15, 2025, Immigration and Customs Enforcement (ICE) issued a detainer for Jose Armando Carcamo-Perdomo, an illegal alien from Honduras, charged by local police with kidnapping and assault. This criminal illegal alien is suspected of sex trafficking and assaulting a Chinese woman.

    According to local reports, Carcamo “kept the sex-trafficking victim hostage for five days without food or water — while he beat her and sexually assaulted her.” A nearby Ring doorbell camera recorded Carcamo picking up the victim on the street and abducting her. Local reports say he is also accused of tying her up, punching, and raping her. 

    “This accused kidnapper and suspected sex trafficker was just one of the countless criminal illegal aliens who inexplicably had their removal proceedings terminated by the Biden Administration and were allowed to remain in the country,” said Assistant Secretary Tricia McLaughlin. “Thanks to the leadership of President Trump and Secretary Noem, criminal illegal aliens are being locked up and will no longer be allowed to terrorize American communities. Our message is clear: criminals are not welcome in the United States.” 

    Carcamo illegally entered the United States at the southern border on November 24, 2020. Under the Biden Administration, ICE filed a motion with an immigration judge to have his removal proceedings terminated.  

    On September 8, 2023, a judge granted the Biden Administration’s motion.  

    Following his arrest for kidnapping and assault, ICE, in accordance with the Laken Riley Act, issued a detainer for his arrest to ensure this criminal illegal alien will never be released into American communities.

    ###

    MIL Security OSI –

    July 25, 2025

  • MIL-OSI: IPinfo Appoints Paul Heywood as Co-CEO

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, July 24, 2025 (GLOBE NEWSWIRE) — IPinfo, the internet data company, today announced that COO Paul Heywood has been appointed Co-Chief Executive Officer, joining Founder and CEO Ben Dowling in leading the company forward.

    As IPinfo continues to scale, the co-CEO model reflects a belief that the best companies excel through a dynamic balance: staying grounded in product excellence while pushing for meaningful global growth. Day-to-day, Dowling will focus on advancing the vision for IPinfo’s products and Heywood will focus on growth and go-to-market.

    “Companies require constant reimagining to stay relevant,” said Ben Dowling, founder and co-CEO. “Paul and I bring different strengths, and we encourage each other to raise the bar — for our product, our company, and the broader internet data space. We’ve operated in this capacity for some time, and today just formalizes that.”

    Heywood’s appointment brings decades of technology leadership experience to the executive role, as well as a deep personal interest in the internet and its infrastructure. Before joining IPinfo as COO, he served as CRO at Puppet, VP of Worldwide Sales at Oracle, and VP and General Manager of EMEA & APAC at Dyn. This is his first time stepping into the CEO role — a decision he calls both purposeful and personal.

    “The internet has defined my generation. It’s the digital supply chain that connects and democratizes everything,” said Heywood. “Joining IPinfo in this role means being at the heart of where important internet decisions are made, and helping to shape a company that’s solving some of the hardest problems in the space. I’m here because I believe in the product, I believe in Ben, and I believe in this company.”

    About IPinfo

    IPinfo is the internet data company, providing the world’s most accurate IP data that delivers highly contextual metadata on each IP address, from geolocation and mobile carrier to privacy detection and proxies. IPinfo is trusted by more than 500,000 users, from developers to Fortune 500 companies, who use IP data to make smarter decisions, mitigate security risks, ensure regulatory compliance, and drive better customer experiences. IPinfo’s robust and secure API processes more than 1 billion requests daily, with data also available through direct download and leading cloud platforms, all backed by a team of data experts who are committed to precision. Discover the power of better IP data at IPinfo.io.

    Contact Name: Meghan Prichard
    Phone Number: 1 (800) 731-7893

    The MIL Network –

    July 25, 2025

  • MIL-OSI: ING completes acquisition of Van Lanschot Kempen stake 

    Source: GlobeNewswire (MIL-OSI)

    ING completes acquisition of Van Lanschot Kempen stake 

    ING announced today that it has completed the acquisition of a 17.6% stake in Van Lanschot Kempen N.V., bringing the total interest in the company to 20.3%. The agreement to acquire the stake from Reggeborgh Groep B.V. was announced on 3 March 2025. 

    Under the terms of the agreement, ING directly acquired a stake of 7.2% in March 2025, bringing its stake in Van Lanschot Kempen to 9.9%. After receiving regulatory approval, the remaining 10.4% was transferred, bringing ING’s stake to 20.3%. The transaction has a minimal impact on ING’s CET1 ratio.  

    Note for editors
    For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr.

    ING PROFILE
    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of June 2025, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’ with an ESG risk rating of 18.0 (low risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate.

    IMPORTANT LEGAL INFORMATION
    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2024 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

    Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non- compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

    This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

    Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

    Attachment

    • PR VLK completion – 20250724

    The MIL Network –

    July 25, 2025

  • MIL-OSI Africa: Angola Advances National Road Plan with €85M Support from Africa Finance Corporation (AFC)

    Source: APO

    Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has closed and disbursed €75 million of an €85 million sovereign facility to Government of Angola, through the Ministry of Finance, to support the construction of 186 priority bridges and critical upgrades to the national road network. The project, part of Angola’s National Development Plan (2023–2027), is aimed at reducing transportation costs, facilitating access to markets for agricultural producers, and creating approximately 900 direct jobs, while strengthening the resilience, efficiency, and inclusivity of Angola’s transport system.

    Solely arranged and financed by AFC, the transaction marks a significant milestone in the €381.5 million financing package previously announced, with AFC serving as the mandated lead arranger on the commercial tranche, and the U.S. Export-Import Bank through the U.S. Private Export Funding Corporation leading the export credit agency tranche. Other key partners include Standard Chartered Bank as the coordinating and structuring bank; Conduril, a leading Portuguese civil engineering firm which is the main EPC contractor; and Acrow, a U.S. construction industry giant as the bridge supplier. This disbursement reinforces AFC’s commitment to working alongside African governments to deliver infrastructure that supports inclusive growth, regional connectivity, and economic transformation.

    “We are proud to advance this catalytic investment that will connect underserved regions, enhance regional trade, and improve the quality of life for millions of Angolans,” said Samaila Zubairu, President & CEO of Africa Finance Corporation. “This disbursement demonstrates AFC’s unique capacity to structure and fund impactful infrastructure projects that address critical national priorities and accelerate economic transformation,” he added.  

    The project is expected to significantly strengthen the resilience of Angola’s transport network to climate-related disruptions, reduce travel times, and lower logistics costs for communities, farmers, and businesses. It also supports regional integration by enhancing trade corridors and cross-border connectivity across Southern and Central Africa. With this transaction, AFC reaffirms its role as a trusted partner to African governments in delivering bankable infrastructure solutions that address the continent’s most urgent development challenges.

    Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

    Media Enquiries:
    Yewande Thorpe
    Communications
    Africa Finance Corporation
    Mobile: +234 1 279 9654
    Email: yewande.thorpe@africafc.org

    About AFC:
    AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

    Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.

    www.AfricaFC.org

    Media files

    .

    MIL OSI Africa –

    July 25, 2025

  • MIL-OSI USA: Bean Bill Targets Violence Against Police Animals

    Source: United States House of Representatives – Representative Aaron Bean Florida (4th District)

    WASHINGTON—Today, U.S. Congressman Aaron Bean (FL-04) proudly introduced the LEO K9 Protection Act, a bill aimed at strengthening penalties for individuals who use a deadly weapon to harm a federal police dog or horse in the line of duty.

    Named in honor of K9 Leo, a fallen Marion County, Florida, canine deputy, the bill expands federal protections to include any state, county, or local police animal assisting a federal agency. It also provides a good-faith exception for emergency veterinary care and directs USDOT to allow EMS providers to transport injured police K9s, at their discretion.

    This announcement comes as attacks on ICE agents have surged 830%, underscoring the urgent need to extend protections to their canine and equine partners, who face the same threats in the line of duty. 

    Upon introduction, Congressman Bean said: “Our police dogs and horses serve on the front lines, protecting officers and communities alike. They deserve real protection, not just praise—and the “LEO K9 Protection Act” will deliver tougher penalties against those who harm these heroic animals in the line of duty.”

    The legislation was introduced in collaboration with K9s United, a nonprofit organization dedicated to supporting and advocating for law enforcement animals.

    “This is a defining moment in the fight to protect federal working K9s who defend our nation every day,” said Debbie Johnson, president and founder of K9s United. “Working K9s are loyal partners, fearless protectors and beloved family members. They charge into danger without hesitation to safeguard communities and they deserve to be protected and treated with the urgency their service demands. The introduction today of the LEO K9 Protection Act is the result of years of tireless advocacy and we are proud to carry this mission forward. We are deeply grateful to Congressman Bean for standing with us to honor and protect our nation’s four-legged heroes.”

    In the past year alone, 21 police K9s lost their lives in the line of duty, including K9 Leo.

    “K9 Leo was more than a partner; he was family. He gave his life to protect others, and not a day goes by that I don’t feel his absence. The Leo K9 Protection Act ensures that the sacrifices of courageous K9s like Leo are never forgotten and that the next injured K9 has the best chance of returning home. By supporting this bill, we can guarantee that federal working K9s receive the urgent care they deserve and help prevent more handlers from experiencing the heartbreak of losing their partners in the line of duty,” said Sergeant Justin Tortora, Marion County Sheriff’s Office.

    Read the exclusive on the Leo K9 Protection Act in the Daily Caller here.

     

    ###

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Rep. Young Kim Leads Bipartisan Bill to Strengthen U.S.–Korea Ties

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – Yesterday, House Foreign Affairs Subcommittee on East Asia and the Pacific Chairwoman Young Kim (CA-40) and Representative Sydney Kamlager‑Dove (CA-37) introduced the bipartisan Partner with Korea Act (H.R.4687) to encourage greater collaboration between U.S. and Korean businesses. 

    The Partner with Korea Act builds on the U.S.–Korea Free Trade Agreement (KORUS FTA) by creating an allotment of 15,000 E-4 highly skilled work visas for Korean nationals with specialized education or expertise, provided that potential employers ensure the visa holders are not hired for positions that American workers could fill. Similar visa categories have been created through free trade agreements with countries, such as Australia and Singapore. 

    “As the Chinese Communist Party and North Korea increase aggression and work to rewrite the world’s rules-based international order, our partnership with South Korea has never been more vital,” said Rep. Young Kim. “South Korea’s highly skilled workforce can help support our economic and national security amid rising threats in the Indo-Pacific. As we mark 72 years of the U.S.-ROK alliance, I’m proud to join forces with Rep. Kamlager-Dove to unlock new economic opportunities that strengthen both of our nations.” 

     “Immigrants power our economy—not just in Los Angeles but nationwide,” said Congresswoman Kamlager-Dove. “Korean immigrants are an integral part of America’s fabric, making essential contributions in various industries, from technology to healthcare and beyond. As a proud representative of the vibrant Korean American community in Los Angeles, I am honored to introduce legislation that will open doors for high-skilled workers from the Republic of Korea. When we fail to attract and retain immigrant talent, our businesses and economy suffer—that’s why the Partner with Korea Act is crucial for keeping America competitive.” 

    The KORUS FTA passed Congress in 2011 and took effect in March of 2012. The Partner with Korea Act was previously introduced in the 113th, 114th, 115th, 116th, 117th, and 118th Congresses by the late Congressman Gerry Connolly (VA-11). Rep. Kim has helped lead this bipartisan effort since she’s been in Congress. 

    Read more about the bill HERE. 

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Welch Denounces Trump’s Attacks on DOJ’s Civil Rights Division in Judiciary Subcommittee Hearing 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.), Raking Member of the Senate Judiciary Subcommittee on The Constitution, this week denounced the President Trump’s attacks on the Department of Justice’s (DOJ) Civil Rights Division, including the Administration’s plans to freeze all new civil rights cases or investigations at the division. 
    Ahead of yesterday’s hearing, Senator Welch released a memorandum with the new policy statements provided to career attorneys at the Civil Rights Division. These directives, which have not previously been made public, show how the Division’s enforcement priorities have been narrowed, changed, and in some cases reversed under the leadership of Assistant Attorney General for Civil Rights Harmeet Dhillon, to mirror and advance President Trump’s political agenda. The memo also sheds light on Assistant Attorney General Dhillon’s efforts to oust career attorneys through reassignments and resignations. Senator Welch’s office obtained data showing that since the beginning of President Trump’s second term, more than 368 individuals have left the Civil Rights Division and only two Section chiefs remain in place. 
    “The Civil Rights Division is a crown jewel in the Department of Justice of the United States of America,” said Senator Welch. “But there’s a profound difference in the Justice Department today than there was the day before the election. The new policy directives that are being issued to DOJ attorneys is the zealous and faithful pursuit of, ‘The priorities of the President.’ No! It’s the priorities of the Constitution. It’s the priorities of the legislation passed by Congress. It is not the priorities of any person, even if that person is the President of the United States. That is not what the job of the Justice Department is to do.” 
    Watch Senator Welch’s full remarks below:  
    Read Senator Welch’s opening remarks as delivered here. 
    Senator Welch questioned Ms. Dhillon about whether the Trump Administration influenced the DOJ’s highly irregular decision to order mid-decade redistricting of Texas’ congressional districts. The Senator also called out Ms. Dhillon for her refusal to acknowledge that President Biden won the 2020 Presidential Election.   
    Read key excerpts from Senator Welch’s exchange with Ms. Dhillon: 
    “As you know, President Trump has recently ‘encouraged’—I’ll use that—Texas Republicans to do mid-cycle redistricting in order to gain more seats in the House of Representatives. I understand that after the President made that decision, or that announcement, you personally sent a letter on July 7 to Texas—in your capacity as Assistant Attorney General—arguing that four Democratic districts violate federal law,” said Senator Welch. “Before you sent the letter on July 7, did you have any conversation with any representatives of the White House?”   
    Ms. Dhillon: “Senator, as you’re aware, there are privileges that are involved in all Executive Branch communications and without—I’m not able to testify without breaching the Department of Justice’s guidelines in that regard. So, I’m unable to answer any questions about conversations I may have had with other Executive Branch officials.”   
    Senator Welch: “I’m not asking you what the content of the conversation was. I’m asking whether there was any conversation with anyone from the White House before you sent that July 7 letter.”  
    Ms. Dhillon: “Senator, I have the same answer. I think you’re aware of the scope, the broad scope of privileges that apply to lawyers’ conduct.” 
    Senator Welch: “Well, here’s what I’m aware of: the President made a directive—which is highly unusual—telling a legislature, the Texas legislature, mid-decade to do redistricting when we do that every ten years. And oh, it just so happened the Assistant Attorney General sent a letter to that legislature—after the President made his announcement—and said that your investigations suggest four districts are in violation of federal law.” 
    Ms. Dhillon: “Is there a question, Senator?” 
    Senator Welch: “There’s a point here that it’s hard to believe that that wasn’t coordinated.” 
    Senator Welch has been a leading voice in pushing back against the Trump Administration’s attacks on the rule of law and efforts to undermine the Department of Justice. In April, Senator Welch led six Senate Judiciary Committee colleagues in demanding answers from the DOJ concerning the Trump Administration’s efforts to dismantle the Department’s Civil Rights Division. The Senators separately called for Senator Eric Schmitt (R-Mo.), Chair of the Judiciary Subcommittee on the Constitution, to immediately hold an oversight hearing with Assistant Attorney General Dhillon on the politicization of DOJ’s Civil Rights Division. 
    During President Trump’s first week in office, Senator Welch slammed the President’s plans to freeze all new civil rights cases or investigations at DOJ’s Civil Rights Division and suggestions that it would sideline police reform agreements established by the Biden Administration.  

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Warner & Kaine Applaud Congressional Reapproval of VA Medical Facility Leases

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner
    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after the House Committee on Veterans’ Affairs voted to approve updated authorizations for 18 Veterans Affairs (VA) major medical facility leases – the final congressional committee needed to greenlight the leases, including one for a proposed outpatient clinic in Hampton Roads:
    “We’re very pleased that all four congressional committees have now approved these much-needed VA leases, including the proposed new outpatient clinic in Hampton Roads. This is a major step forward in expanding access to high-quality, convenient care for the more than 60 percent of Hampton VA Medical Center patients who live on the south side of the region. For years, we’ve pushed to get these kinds of facilities authorized and built, because we refuse to accept a system where veterans are stuck with long wait times or forced to travel hours for basic appointments. With this final vote, we are one step closer to ensuring these long-overdue facilities become a reality.
    “Now that the leases have cleared every hurdle in Congress, we’ll be pushing the VA and GSA to award these leases, and make sure these projects get off the ground without delay. Our veterans have waited long enough.” 
    While these leases were originally authorized under the PACT Act, which both senators strongly supported, updated cost estimates and rent bids prompted the VA and the General Services Administration (GSA) to seek reauthorization from four congressional committees. With yesterday’s action by the House Veterans’ Affairs Committee, the leases have now been reauthorized by all four needed committees: the Senate Committee on Environment and Public Works, the Senate Committee on Veterans’ Affairs, the House Committee on Transportation and Infrastructure, and the House Committee on Veterans’ Affairs.
    Sens. Warner and Kaine have long fought to expand health care and benefits for Virginia’s nearly 700,000 veterans. Sens. Warner and Kaine began raising the alarm about the significant backlog of unapproved VA leases in 2016. After putting significant pressure on officials across the federal government, Congress unanimously passed the Providing Veterans Overdue Care Act, legislation written by Sen. Warner and supported by Sen. Kaine, to cut the backlog and get over two dozen delayed VA medical facilities’ leases approved.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Warner & Kaine Applaud Congressional Reapproval of VA Medical Facility Leases

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after the House Committee on Veterans’ Affairs voted to approve updated authorizations for 18 Veterans Affairs (VA) major medical facility leases – the final congressional committee needed to greenlight the leases, including one for a proposed outpatient clinic in Hampton Roads:

    “We’re very pleased that all four congressional committees have now approved these much-needed VA leases, including the proposed new outpatient clinic in Hampton Roads. This is a major step forward in expanding access to high-quality, convenient care for the more than 60 percent of Hampton VA Medical Center patients who live on the south side of the region. For years, we’ve pushed to get these kinds of facilities authorized and built, because we refuse to accept a system where veterans are stuck with long wait times or forced to travel hours for basic appointments. With this final vote, we are one step closer to ensuring these long-overdue facilities become a reality.

    “Now that the leases have cleared every hurdle in Congress, we’ll be pushing the VA and GSA to award these leases, and make sure these projects get off the ground without delay. Our veterans have waited long enough.” 

    While these leases were originally authorized under the PACT Act, which both senators strongly supported, updated cost estimates and rent bids prompted the VA and the General Services Administration (GSA) to seek reauthorization from four congressional committees. With yesterday’s action by the House Veterans’ Affairs Committee, the leases have now been reauthorized by all four needed committees: the Senate Committee on Environment and Public Works, the Senate Committee on Veterans’ Affairs, the House Committee on Transportation and Infrastructure, and the House Committee on Veterans’ Affairs.

    Sens. Warner and Kaine have long fought to expand health care and benefits for Virginia’s nearly 700,000 veterans. Sens. Warner and Kaine began raising the alarm about the significant backlog of unapproved VA leases in 2016. After putting significant pressure on officials across the federal government, Congress unanimously passed the Providing Veterans Overdue Care Act, legislation written by Sen. Warner and supported by Sen. Kaine, to cut the backlog and get over two dozen delayed VA medical facilities’ leases approved.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Warner & Kaine Applaud Congressional Reapproval of VA Medical Facility Leases

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after the House Committee on Veterans’ Affairs voted to approve updated authorizations for 18 Veterans Affairs (VA) major medical facility leases – the final congressional committee needed to greenlight the leases, including one for a proposed outpatient clinic in Hampton Roads:

    “We’re very pleased that all four congressional committees have now approved these much-needed VA leases, including the proposed new outpatient clinic in Hampton Roads. This is a major step forward in expanding access to high-quality, convenient care for the more than 60 percent of Hampton VA Medical Center patients who live on the south side of the region. For years, we’ve pushed to get these kinds of facilities authorized and built, because we refuse to accept a system where veterans are stuck with long wait times or forced to travel hours for basic appointments. With this final vote, we are one step closer to ensuring these long-overdue facilities become a reality.

    “Now that the leases have cleared every hurdle in Congress, we’ll be pushing the VA and GSA to award these leases, and make sure these projects get off the ground without delay. Our veterans have waited long enough.” 

    While these leases were originally authorized under the PACT Act, which both senators strongly supported, updated cost estimates and rent bids prompted the VA and the General Services Administration (GSA) to seek reauthorization from four congressional committees. With yesterday’s action by the House Veterans’ Affairs Committee, the leases have now been reauthorized by all four needed committees: the Senate Committee on Environment and Public Works, the Senate Committee on Veterans’ Affairs, the House Committee on Transportation and Infrastructure, and the House Committee on Veterans’ Affairs.

    Sens. Warner and Kaine have long fought to expand health care and benefits for Virginia’s nearly 700,000 veterans. Sens. Warner and Kaine began raising the alarm about the significant backlog of unapproved VA leases in 2016. After putting significant pressure on officials across the federal government, Congress unanimously passed the Providing Veterans Overdue Care Act, legislation written by Sen. Warner and supported by Sen. Kaine, to cut the backlog and get over two dozen delayed VA medical facilities’ leases approved.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Warner & Kaine Applaud Congressional Reapproval of VA Medical Facility Leases

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after the House Committee on Veterans’ Affairs voted to approve updated authorizations for 18 Veterans Affairs (VA) major medical facility leases – the final congressional committee needed to greenlight the leases, including one for a proposed outpatient clinic in Hampton Roads:

    “We’re very pleased that all four congressional committees have now approved these much-needed VA leases, including the proposed new outpatient clinic in Hampton Roads. This is a major step forward in expanding access to high-quality, convenient care for the more than 60 percent of Hampton VA Medical Center patients who live on the south side of the region. For years, we’ve pushed to get these kinds of facilities authorized and built, because we refuse to accept a system where veterans are stuck with long wait times or forced to travel hours for basic appointments. With this final vote, we are one step closer to ensuring these long-overdue facilities become a reality.

    “Now that the leases have cleared every hurdle in Congress, we’ll be pushing the VA and GSA to award these leases, and make sure these projects get off the ground without delay. Our veterans have waited long enough.” 

    While these leases were originally authorized under the PACT Act, which both senators strongly supported, updated cost estimates and rent bids prompted the VA and the General Services Administration (GSA) to seek reauthorization from four congressional committees. With yesterday’s action by the House Veterans’ Affairs Committee, the leases have now been reauthorized by all four needed committees: the Senate Committee on Environment and Public Works, the Senate Committee on Veterans’ Affairs, the House Committee on Transportation and Infrastructure, and the House Committee on Veterans’ Affairs.

    Sens. Warner and Kaine have long fought to expand health care and benefits for Virginia’s nearly 700,000 veterans. Sens. Warner and Kaine began raising the alarm about the significant backlog of unapproved VA leases in 2016. After putting significant pressure on officials across the federal government, Congress unanimously passed the Providing Veterans Overdue Care Act, legislation written by Sen. Warner and supported by Sen. Kaine, to cut the backlog and get over two dozen delayed VA medical facilities’ leases approved.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Warner & Kaine Applaud Congressional Reapproval of VA Medical Facility Leases

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after the House Committee on Veterans’ Affairs voted to approve updated authorizations for 18 Veterans Affairs (VA) major medical facility leases – the final congressional committee needed to greenlight the leases, including one for a proposed outpatient clinic in Hampton Roads:

    “We’re very pleased that all four congressional committees have now approved these much-needed VA leases, including the proposed new outpatient clinic in Hampton Roads. This is a major step forward in expanding access to high-quality, convenient care for the more than 60 percent of Hampton VA Medical Center patients who live on the south side of the region. For years, we’ve pushed to get these kinds of facilities authorized and built, because we refuse to accept a system where veterans are stuck with long wait times or forced to travel hours for basic appointments. With this final vote, we are one step closer to ensuring these long-overdue facilities become a reality.

    “Now that the leases have cleared every hurdle in Congress, we’ll be pushing the VA and GSA to award these leases, and make sure these projects get off the ground without delay. Our veterans have waited long enough.” 

    While these leases were originally authorized under the PACT Act, which both senators strongly supported, updated cost estimates and rent bids prompted the VA and the General Services Administration (GSA) to seek reauthorization from four congressional committees. With yesterday’s action by the House Veterans’ Affairs Committee, the leases have now been reauthorized by all four needed committees: the Senate Committee on Environment and Public Works, the Senate Committee on Veterans’ Affairs, the House Committee on Transportation and Infrastructure, and the House Committee on Veterans’ Affairs.

    Sens. Warner and Kaine have long fought to expand health care and benefits for Virginia’s nearly 700,000 veterans. Sens. Warner and Kaine began raising the alarm about the significant backlog of unapproved VA leases in 2016. After putting significant pressure on officials across the federal government, Congress unanimously passed the Providing Veterans Overdue Care Act, legislation written by Sen. Warner and supported by Sen. Kaine, to cut the backlog and get over two dozen delayed VA medical facilities’ leases approved.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Warner & Kaine Applaud Congressional Reapproval of VA Medical Facility Leases

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after the House Committee on Veterans’ Affairs voted to approve updated authorizations for 18 Veterans Affairs (VA) major medical facility leases – the final congressional committee needed to greenlight the leases, including one for a proposed outpatient clinic in Hampton Roads:

    “We’re very pleased that all four congressional committees have now approved these much-needed VA leases, including the proposed new outpatient clinic in Hampton Roads. This is a major step forward in expanding access to high-quality, convenient care for the more than 60 percent of Hampton VA Medical Center patients who live on the south side of the region. For years, we’ve pushed to get these kinds of facilities authorized and built, because we refuse to accept a system where veterans are stuck with long wait times or forced to travel hours for basic appointments. With this final vote, we are one step closer to ensuring these long-overdue facilities become a reality.

    “Now that the leases have cleared every hurdle in Congress, we’ll be pushing the VA and GSA to award these leases, and make sure these projects get off the ground without delay. Our veterans have waited long enough.” 

    While these leases were originally authorized under the PACT Act, which both senators strongly supported, updated cost estimates and rent bids prompted the VA and the General Services Administration (GSA) to seek reauthorization from four congressional committees. With yesterday’s action by the House Veterans’ Affairs Committee, the leases have now been reauthorized by all four needed committees: the Senate Committee on Environment and Public Works, the Senate Committee on Veterans’ Affairs, the House Committee on Transportation and Infrastructure, and the House Committee on Veterans’ Affairs.

    Sens. Warner and Kaine have long fought to expand health care and benefits for Virginia’s nearly 700,000 veterans. Sens. Warner and Kaine began raising the alarm about the significant backlog of unapproved VA leases in 2016. After putting significant pressure on officials across the federal government, Congress unanimously passed the Providing Veterans Overdue Care Act, legislation written by Sen. Warner and supported by Sen. Kaine, to cut the backlog and get over two dozen delayed VA medical facilities’ leases approved.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Warner & Kaine Applaud Congressional Reapproval of VA Medical Facility Leases

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after the House Committee on Veterans’ Affairs voted to approve updated authorizations for 18 Veterans Affairs (VA) major medical facility leases – the final congressional committee needed to greenlight the leases, including one for a proposed outpatient clinic in Hampton Roads:

    “We’re very pleased that all four congressional committees have now approved these much-needed VA leases, including the proposed new outpatient clinic in Hampton Roads. This is a major step forward in expanding access to high-quality, convenient care for the more than 60 percent of Hampton VA Medical Center patients who live on the south side of the region. For years, we’ve pushed to get these kinds of facilities authorized and built, because we refuse to accept a system where veterans are stuck with long wait times or forced to travel hours for basic appointments. With this final vote, we are one step closer to ensuring these long-overdue facilities become a reality.

    “Now that the leases have cleared every hurdle in Congress, we’ll be pushing the VA and GSA to award these leases, and make sure these projects get off the ground without delay. Our veterans have waited long enough.” 

    While these leases were originally authorized under the PACT Act, which both senators strongly supported, updated cost estimates and rent bids prompted the VA and the General Services Administration (GSA) to seek reauthorization from four congressional committees. With yesterday’s action by the House Veterans’ Affairs Committee, the leases have now been reauthorized by all four needed committees: the Senate Committee on Environment and Public Works, the Senate Committee on Veterans’ Affairs, the House Committee on Transportation and Infrastructure, and the House Committee on Veterans’ Affairs.

    Sens. Warner and Kaine have long fought to expand health care and benefits for Virginia’s nearly 700,000 veterans. Sens. Warner and Kaine began raising the alarm about the significant backlog of unapproved VA leases in 2016. After putting significant pressure on officials across the federal government, Congress unanimously passed the Providing Veterans Overdue Care Act, legislation written by Sen. Warner and supported by Sen. Kaine, to cut the backlog and get over two dozen delayed VA medical facilities’ leases approved.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Warner & Kaine Applaud Congressional Reapproval of VA Medical Facility Leases

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after the House Committee on Veterans’ Affairs voted to approve updated authorizations for 18 Veterans Affairs (VA) major medical facility leases – the final congressional committee needed to greenlight the leases, including one for a proposed outpatient clinic in Hampton Roads:

    “We’re very pleased that all four congressional committees have now approved these much-needed VA leases, including the proposed new outpatient clinic in Hampton Roads. This is a major step forward in expanding access to high-quality, convenient care for the more than 60 percent of Hampton VA Medical Center patients who live on the south side of the region. For years, we’ve pushed to get these kinds of facilities authorized and built, because we refuse to accept a system where veterans are stuck with long wait times or forced to travel hours for basic appointments. With this final vote, we are one step closer to ensuring these long-overdue facilities become a reality.

    “Now that the leases have cleared every hurdle in Congress, we’ll be pushing the VA and GSA to award these leases, and make sure these projects get off the ground without delay. Our veterans have waited long enough.” 

    While these leases were originally authorized under the PACT Act, which both senators strongly supported, updated cost estimates and rent bids prompted the VA and the General Services Administration (GSA) to seek reauthorization from four congressional committees. With yesterday’s action by the House Veterans’ Affairs Committee, the leases have now been reauthorized by all four needed committees: the Senate Committee on Environment and Public Works, the Senate Committee on Veterans’ Affairs, the House Committee on Transportation and Infrastructure, and the House Committee on Veterans’ Affairs.

    Sens. Warner and Kaine have long fought to expand health care and benefits for Virginia’s nearly 700,000 veterans. Sens. Warner and Kaine began raising the alarm about the significant backlog of unapproved VA leases in 2016. After putting significant pressure on officials across the federal government, Congress unanimously passed the Providing Veterans Overdue Care Act, legislation written by Sen. Warner and supported by Sen. Kaine, to cut the backlog and get over two dozen delayed VA medical facilities’ leases approved.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI United Kingdom: Consultation opens on Angus Fire permit application

    Source: United Kingdom – Government Statements

    Press release

    Consultation opens on Angus Fire permit application

    Angus Fire Limited has applied to the Environment Agency to vary its environmental permit to reduce chemical contamination on its site at High Bentham.

    The operator has applied to vary the permit to introduce an effluent treatment plant.

    Previously, Angus Fire manufactured and tested firefighting foam. This foam is known to have contained per- and polyfluoroalkyl substances (PFAS). These PFAS chemicals are transferred into rainwater when it falls on to key areas of the site.  

    Angus Fire has been collecting this rainwater so it can be treated to reduce the PFAS substances.

    The application is for an effluent treatment plant to reduce the PFAS in both the collected rainwater and the future rainwater that falls onto the site.

    The operator no longer manufacturers firefighting foam at its High Bentham site. The application is for treating rainwater to reduce PFAS chemicals from the site’s previous manufacturing processes.

    The Environment Agency is now seeking views from the local community and interested groups on the application.

    The consultation will run from Thursday 24 July until Thursday 21 August 2025.

    It is live on the Environment Agency’s Citizen Space website.

    The website explains what the Environment Agency can and can’t take into account when deciding on the application.

    Agency ‘welcomes comments from the public’

    John Neville, Area Environment Manager at the Environment Agency, said:

    Our regulatory controls are in place to protect people and the environment and we will carry out a detailed and robust assessment of Angus Fire’s permit variation application.

    We welcome comments from the public and interested groups on local environmental factors that people feel are important.

    Once treated at the effluent plant, the rainwater would be discharged to the River Wenning.

    The proposed level of PFAS remaining in the treated rainwater discharged into the river would be in line with levels currently accepted as best practice for PFAS treatment processes.

    The Environment Agency may only refuse a permit application if it does not meet one or more of the legal requirements under environmental legislation.

    If the application shows that the site can operate in a way that meets all current environmental regulations and will provide a high level of protection of the environment and human health, the Environment Agency is legally obliged to issue a permit.

    People can respond to the consultation directly on the website or alternatively by email to pscpublicresponse@environment-agency.gov.uk

    Background information

    Consultation

    • Responses to the consultation can be made electronically. To access the relevant documentation, visit our consultation website
    • Information on the website explains how you can view the consultation documents and how you can make your comments. We also explain what we can and can’t take into account when deciding on the application.
    • Anyone wishing to comment on the proposals is urged to read the documentation online before responding directly on the website or by email to pscpublicresponse@environment-agency.gov.uk
    • Those unable to make representation via the consultation website or by email should contact the Environment Agency on 03708 506 506.  

    Environmental permits

    • Environmental permits set out strict legal conditions by which an operator must comply in order to protect people and the environment. Should an environmental permit be issued, the Environment Agency has responsibility for enforcing its conditions.
    • Our powers include enforcement notices, suspension and revocation of permits, fines and ultimately criminal sanctions, including prosecution.
    • We may only refuse a permit if it does not meet one or more of the legal requirements under environmental legislation, including if it will have a significant impact on the environment or harm human health. If all the requirements are met, we are legally required to issue a permit.

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    Updates to this page

    Published 24 July 2025

    MIL OSI United Kingdom –

    July 25, 2025

  • MIL-OSI United Nations: Deputy Secretary-General’s remarks on the occasion of Africa Day at the High-level Political Forum on Sustainable Development 2025 [as prepared for delivery]

    Source: United Nations secretary general

    Excellencies,

    Distinguished delegates and colleagues,

    Ladies and gentlemen, 

    It is a great honour to join you here today. 

    As we celebrate Africa Day within this High-Level Political Forum, we gather not only to take stock, but to bear witness to something extraordinary: a continent that refuses to be defined by its starting point but instead chooses to measure itself by how far it has traveled.

    Make no mistake: Africa began its sustainable development journey on the back foot.

    Colonial legacies that took wealth and left behind fractured institutions.

    Climate catastrophes that wash away decades of progress in a single season.

    Conflicts that force entire populations to abandon everything they have built.

    These are daily realities that test the resolve of every African nation.

    Yet here we stand, with ten countries presenting their Voluntary National Reviews this year as testaments to resilience.

    Angola achieving its strongest economic growth in a decade while building over twelve thousand new schools.

    Ethiopia sustaining remarkable growth while powering its entire electrical grid from renewable sources.

    The Gambia driving robust development across agriculture, tourism, and services.

    These efforts are part of a broader continental push to realize the vision of Agenda 2063 and the 2030 Agenda in the VNRs we see that vision coming to life.

    More than 100 other VNRs have been prepared in the last decade since the SDGs were adopted and tell promising stories of progress across the Continent. 

    But let us be clear on the full scale of the challenges facing Africa.

    When a country like Sudan facing conflict sees the vast majority of its factories destroyed with unemployment soaring to crushing levels.

     We are reminded that progress is neither linear nor guaranteed.
    When young people across our continent still struggle to find decent work, we know that our most precious resource – our youth – still faces barriers that deny them their rightful place in building tomorrow’s Africa.

    When Africa gets the fundamentals right, like quality education for every child, the path to higher ground becomes clearer. 

    Digital transformation, climate resilience, economic justice: these are no longer distant summits, but peaks within reach, and Africa has always been a continent of climbers.

    Consider the women breaking barriers across our continent.

    In parliaments from Rwanda to Eswatini to Ghana, women are claiming seats of power once denied to them.

    Across Lesotho, widows now possess rights over family property that previous generations could never imagine.

    Each a seismic shift in how African societies recognize the power and potential of half their population.

    Our youth, too, are not passive recipients of change – they are its architects.

    From Nigeria’s digital revolution to technology driven governance in Seychelles to Morocco’s role in advancing AI research, young Africans are coding and designing the future every step of the way.

    That said, we should not romanticize the road ahead.

    At this moment, at this rate, the SDGs are beyond reach in Africa. 

    We have five years to 2030.

    Five years to transform systems that took decades to build.

    Five years to close gaps and the widest gap remains finance. 

    Finance is the engine of progress. 

    Without it, schools don’t get built, clinics stay empty, and peace remains out of reach. 

    The global financial system is not working for Africa. 

    Borrowing costs are too high, debt burdens are too heavy, and the money that could change lives is tied up in systems that are too slow, too narrow, and too risk averse. 

    The Sevilla Commitment is a step forward, a promise to get resources flowing faster, fairer, and at the scale we need.

    The next five years will test not only our ambition, but our ability to deliver on the most basic promises of dignity and justice – especially in the areas where progress remains most elusive.

    Many women still face gender-based violence that steals their safety, their dignity, and their dreams.

    We must dismantle the structural barriers that persist like shadows, following women from childhood through their adult lives.

    Our young people deserve more than we have given them. We must invest urgently in skills development, particularly in the digital and green sectors where Africa can lead the world. 

    The bigger picture also betrays an all-too-present imbalance: too often, African countries are absent from the tables where global decisions are made, yet they are first to feel the impact.

    The Pact for the Future is working to change that. 

    It calls for more inclusive, representative global governance that reflects today’s realities, not a snapshot of yesterday. 

    It recognizes that sustainable development cannot be built on a foundation of exclusion, and by adopting the Pact, countries committed to ensuring Africa is where it belongs: at the table, shaping the decisions that shape our world.

    And we are taking the necessary steps to ensure that countries have the UN support and capacity needed to do just that. 

    The Secretary-General’s UN80 Initiative also builds on the existing reforms and plots an ambitious path forward to ensure that those we serve have the optimal level and type of capacity in country. 

    Excellencies,

    Africa’s journey toward 2030, 2063 and beyond is not a sprint, it’s a relay race, where each nation, each community, each individual, carries the baton forward.

    The Africa Sustainable Development Report that we are launching today represents both the progress, and the challenges, from a continent still writing its greatest chapter.

    It is a declaration that future generations will inherit not the limitations we face, but the possibilities we create.

    Above all, they speak to a refusal to accept that history determines destiny.

    I want to thank the African Union, the Economic Commission of Africa, the African Development Bank and the UNDP for preparing this crucial piece of work. 

    Let it be our map for the road ahead. 

    Let us build on the foundation of commitment it represents.

    The relay baton is in our hands. 

    The finish line is in sight, and from what I have seen, African nations – resilient, determined, unstoppable – are ready to run.

    Thank you.

    MIL OSI United Nations News –

    July 25, 2025

  • MIL-OSI: 74Software: Sustained Momentum Reinforces Long-Term Objectives

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Paris, July 24, 2025

    74Software: Sustained Momentum Reinforces Long-Term Objectives

    • Group H1 2025 revenue of €344.0m, up 6.5% organically and 6.2% in total
    • Strong H1 across both brands – Axway up 8.9% to €160.8m and SBS up 5.0% to €184.2m
    • Marked improvement in margin on operating activities, up 585bps to 12.0% of revenue (€41.3m)
    • ARR increased year-on-year by 11.8% at Axway and 10.9% at SBS, further strengthening recurring revenues

    74Software’s Board of Directors, chaired by Pierre Pasquier, approved today the financial statements for the first half of 2025, which were subject to a limited review by the statutory auditors1. Consequently, 74Software announces:

    Half-Year Key Income Statement Items
                       
        Half-year 2025   Half-year 2024
    Proforma
    6M AXW + 6M SBS    		   Half-year 2024
    Reported
    Axway Standalone
        €m % of Rev.   €m % of Rev.   €m % of Rev.
    TOTAL REVENUE   344.0     323.9     148.7  
    GROSS PROFIT   228.1 66.3%   206.8 63.9%   104.7 70.5%
    PROFIT ON OPERATING ACTIVITIES   41.3 12.0%   19.9 6.1%   17.1 11.5%
    OPERATING PROFIT   19.5 5.7%   2.6 0.8%   8.3 5.6%
    NET PROFIT   5.8 1.7%   -15.6 -4.8%   2.8 1.9%
    EARNINGS PER SHARE   0.20 €     -0.54 €     0.13 €  

    Patrick Donovan, Chief Executive Officer, stated:

    “Our H1 results confirm our strong start to the year and demonstrate both the strength of our strategic direction and our ability to execute in-line with our stated plans. As noted in our Q1 press release, the solid early execution front-loads part of the year’s commercial activity— especially in the Axway business. We remain fully committed to our full-year guidance and, more broadly, to our 2027 and 2028 ambitions. Axway is now firmly established as a subscription-first business, while SBS is rapidly scaling its modular banking platforms and expanding its SaaS footprint. With recurring revenue accelerating and capital deployment tightly managed, 74Software is becoming a more structured, resilient, and forward-looking group — built to deliver long-term value creation.”

    Comments on H1 2025 activity

    74Software delivered a strong first-half performance, confirming its ability to execute on its strategic roadmap and capitalize on the operational integration initiated following the transaction closing in September 2024. Revenue growth was solid in both brands, while profitability improved as planned — reflecting the strength of the Group’s model and the improved execution driven by Axway’s infrastructure software expertise and SBS’s leadership in banking software.

    Following a particularly dynamic Q1, the second quarter allowed the Group to consolidate its gains, maintain commercial selectivity, and further shift toward a recurring, scalable revenue model. Axway has now largely transitioned, while SBS continues to advance its own transformation, expanding SaaS deployments and rebalancing its revenue mix in favor of product revenue. Key highlights for the period include:

    • Axway recorded a strong first half, with consistent growth across all product lines. Nearly 60 new customers were signed during the period (+20% year-on-year), with new-name deals accounting for around one-third of Q2 bookings. Large-scale projects gained momentum, including six contracts exceeding €1 million signed in Q2 alone. Demand for cloud-based delivery continued to rise, with Axway-managed deployments representing 40% of Q2 bookings and 35% over the first half. This shift was broad-based, with steady adoption across all geographies and industry verticals.
    • SBS also reported strong results, with product revenue now accounting for 75% of total revenue, up from 67% in H1 2024 — marking significant progress in the company’s shift toward a software-led model. Growth was supported by all product lines, including solid license activity in integrated platforms, components, and financing solutions, as well as continued expansion of modular offerings. The company has now contracted more than 230 SaaS regulatory reporting services, reinforcing adoption across its client base. During the period, SBS welcomed several new clients and completed the first SaaS deployment of its digital engagement platform in Europe. Two additional implementations are scheduled for the third quarter in Africa, where demand is driven by microfinance and Islamic banking. The company’s progress was also recognized through multiple industry awards highlighting its leadership in compliance, payments, and digital banking.

    The Group enters H2 with improving visibility, disciplined execution, and a clear focus on delivering its full-year objectives. Integration of support functions between Axway and SBS is now largely complete, and joint commercial initiatives are steadily expanding across selected regions.

    Comments on H1 2025 operational performance

    Half-year Revenue Breakdown by Portfolio Brand
               
      H1 2025 H1 2024
    Proforma    		 H1 2024
    Restated    		 Total
    Growth    		 Organic
    Growth
    €m / %
    Axway Scope 160.8 148.7 147.6 8.1% 8.9%
    SBS Scope 184.2 175.2 175.4 5.1% 5.0%
               
    Consolidation -1.0 0.0 0.0 – –
               
    74Software 344.0 323.9 323.0 6.2% 6.5%

    In the first half of 2025, the Group generated revenue of €344.0 million, reflecting total growth of 6.2% and organic growth of 6.5% year-on-year. This performance was supported by both brands, with Axway contributing €160.8 million in revenue and organic growth of 8.9%, and SBS contributing €184.2 million with 5.0% organic growth (compared to proforma H1 2024).

    Half-year Revenue Breakdown by Type
               
      H1 2025 H1 2024
    Proforma    		 H1 2024
    Restated    		 Total
    Growth    		 Organic
    Growth
    €m / %
    Product revenue 280.0 248.7 248.1 12.6% 12.9%
    Recurring revenue 258.0 229.3 228.7 12.5% 12.8%
    o/w Maintenance & Support 91.5 96.2 96.0 -4.9% -4.7%
    o/w Customer-managed Subscription 98.7 76.6 76.5 28.8% 29.0%
    o/w Own-managed Subscription 67.8 56.5 56.2 20.0% 20.6%
    License revenue 22.1 19.4 19.4 13.5% 13.7%
               
    Services revenue 64.0 75.2 74.9 -14.9% -14.6%
               
    Total revenue 344.0 323.9 323.0 6.2% 6.5%

    In the first half of 2025, Product revenue reached €280.0 million, up 12.9% organically, reflecting strong execution across both Axway and SBS. The Group continued to benefit from rising demand for subscription-based offers, with both customer-managed and own-managed subscriptions posting growth above 20%. Maintenance revenue declined as anticipated, while license activity increased but remained low at 6.4% of total revenue. Product revenues accounted for 81% of total revenue (up from 77% in H1 2024) and recurring revenues were at 75% of total revenue (up from 71% in H1 2024), confirming 74Software’s successful transition toward a product- and subscription-led model.

    Axway generated €143.3 million in product revenue, up 10.5% organically. Recurring activities made nearly the entire contribution, driven by a 29.5% increase in customer-managed subscriptions and 6.8% growth in own-managed deployments, reflecting continued momentum in hybrid environments. License revenue decreased by 34.9% as the company continues to phase out new license sales. Maintenance and support dropped by 20.6% due to the continued shift of the customer base towards subscription models. Services revenue was slightly lower, down 2.2%, and represented 11% of Axway’s total.

    SBS recorded €137.7 million in product revenue, up 16.3% organically, with strong performance across all product categories. Own-managed subscriptions rose by 35.2%, customer-managed subscriptions by 25.5%, and maintenance and support increased by 4.2%, supported by a growing installed base. License revenue climbed 21.2%, reflecting continued expansion of integrated and lending solutions. Recurring revenue now represents 64% of SBS’s business (up from 58% in H1 2024), with services accounting for 25% and licenses for 11%. This illustrates SBS’s continued shift from a service-led to a product-led business model.

    Group-wide, Services generated €64.0 million in the first half, or 18.6% of total revenue, down 14.6% compared to last year. This decrease mainly reflects SBS’s repositioning, while Axway’s service contribution remained stable. The difference in service trends between the two businesses stems from their respective models. Axway relies on lighter implementation cycles, whereas SBS delivers more comprehensive banking transformation programs.

    At the end of June 2025, ARR for Axway stood at €255.9 million, reflecting an organic growth of 11.8% year-on-year. SBS also continued to expand its ARR to €233.3 million, up 10.9% organically year-on-year. These solid performances confirm the effectiveness of both companies’ strategic repositioning and reinforce the Group’s revenue predictability and resilience.

    Comments on H1 2025 product line performance

    Axway, a recognized leader in application infrastructure and middleware, delivered solid momentum in the first half of 2025. All product lines contributed to growth, supported by strong commercial execution and increasing demand for cloud-based solutions:

    • Managed File Transfer remained a key contributor despite a normalization of activity following an exceptional 2024. The gradual erosion of legacy maintenance was more than offset by strong momentum in managed deployments, confirming the sustained value of Axway’s hybrid approach.
    • B2B Integration delivered robust gains across the board, benefiting from growing demand for managed solutions and early signs of successful cross-sell with SBS. The product line also saw improvements in both subscription and service revenue.
    • API Management accelerated sharply, supported by strong commercial execution and increased adoption of its integration and engagement modules. The Fusion extension also contributed positively, confirming the platform’s potential.
    • Specialized Products, including the Financial Accounting Hub, maintained steady momentum through targeted compliance and finance use cases. Recent wins via ecosystem partnerships reinforced Axway’s positioning with key accounts.

    SBS, a trusted provider of banking and financing software, posted solid growth in all product lines, confirming the strength of its modular and targeted approach as it continues its shift toward a product-led model:

    • Financing Products maintained a steady trajectory, reflecting stable demand in wholesale auto finance and UK mortgage service. Activity remained resilient despite longer decision cycles in certain regions.
      • Modular Products continued to gain traction, primarily driven by momentum in instant payments and the regulatory reporting platform. Cross-sell into the integrated base gained pace, confirming the appeal of modular architectures.
      • Integrated Products delivered consistent performance, with solid customer retention and ongoing functional improvements. In some markets, modular alternatives are beginning to complement legacy platforms, paving the way for more composable setups. SBS’ market-leading product in Africa continues to perform strongly, adding new customers as well as increasing share of wallet in its installed base.
    • Banking Components continued to gain momentum, particularly in payments, lending, and cards. The strength of customer relationships across key accounts in France continues to drive upsells.

    Comments on H1 2025 profit on operating activities

    Profit on Operating Activities – Group
                       
        H1 2025   H1 2024
    Proforma    		   Change
        €m % of Rev.   €m % of Rev.   €m Basis Points
    Product revenue   280.0 81.4%   248.7 76.8%   + 31.3 + 461
    Services revenue   64.0 18.6%   75.2 23.2%   – 11.2 – 461
    Total revenue   344.0     323.9     + 20.1  
    Total costs of revenue   115.9     117.1     – 1.2  
    GROSS PROFIT   228.1 66.3%   206.9 63.9%   + 21.2 + 243
    o/w product gross profit   217.9 77.8%   191.7 77.0%   + 26.2 + 75
    o/w services gross profit   10.2 15.9%   15.2 20.2%   – 5.0 – 422
    Operating expenses   186.8 54.3%   186.9 57.7%   – 0.1 – 341
    o/w research & development   93.2 27.1%   95.0 29.3%   – 1.8 – 224
    o/w sales & marketing   62.8 18.3%   62.3 19.2%   + 0.5 – 96
    o/w general & administrative   30.8 8.9%   29.6 9.1%   + 1.1 – 20
    PROFIT ON OPERATING ACTIVITIES   41.3 12.0%   19.9 6.1%   + 21.4 + 585
    Net Capitalisation of R&D   8.4 2.4%   9.1 2.8%   – 0.8 – 39
    in % of gross R&D   8.2%     8.8%     -0.5%  

    In H1 2025, profit on operating activities reached €41.3 million, representing a margin of 12.0% of revenue, compared with 6.1% in H1 2024. This sharp improvement reflects strong gross profit expansion, driven by a more favorable revenue mix and tight cost control across operating expenses with all lines showing year-on-year efficiencies. Gross margins increased—particularly at Axway—thanks to strong bookings in customer-managed subscriptions, which generated significant upfront revenue at high margins.

    Comments on H1 2025 net profit

    Net Profit – Group
                       
        Half-year 2025   Half-year 2024
    Proforma
    6M AXW + 6M SBS    		   Half-year 2024
    Reported
    Axway Standalone
        €m % of Rev.   €m % of Rev.   €m % of Rev.
    PROFIT ON OPERATING ACTIVITIES   41.3 12.0%   19.9 6.1%   17.1 11.5%
    Share-based expenses   -6.7     -2.4     -2.9  
    Amortization of allocated intangibles   -6.2     -7.1     -1.7  
    PROFIT FROM RECURRING OPERATIONS   28.4 8.3%   10.5 3.2%   12.5 8.4%
    Other operating income and expenses   -8.9     -7.9     -4.1  
    OPERATING PROFIT   19.5 5.7%   2.6 0.8%   8.3 5.6%
    Cost of financial debt   -9.0     -8.9     -2.7  
    Other financial income and expenses   -2.2     -2.0     -0.9  
    Income tax expenses   -2.5     -7.2     -2.0  
    NET PROFIT   5.8 1.7%   -15.6 -4.8%   2.8 1.9%
    Earnings per share   0.20 €     -0.54 €     0.13 €  

    Profit from recurring operations reached €28.4 million, after accounting for the amortization of allocated intangibles and share-based expenses. This marks a substantial improvement from the H1 2024 proforma figure of €10.5 million.

    Share-based expenses increased, reflecting the inclusion of SBS in the new long-term incentive program, the Group’s strong share price performance, and higher employer social security rates in France. The purchase price allocation (PPA) related to the SBS acquisition has now been finalized. Amortization of allocated intangibles has been restated for 2024 on a pro forma basis and is expected to total €12–13 million for full-year 2025.

    After including other operating income and expenses, such as restructuring charges and non-recurring items totaling €8.9 million, operating profit amounted to €19.5 million, compared with €2.6 million on a proforma basis in H1 2024.

    Net profit for the half-year came to €5.8 million (1.7%), a significant turnaround from the €15.6 million loss recorded on a proforma basis in the prior year.

    Basic earnings per share stood at €0.20, compared with a loss of €0.54 per share in the first half of 2024 (proforma).

    Financial position on June 30, 2025

    74Software made strong progress in its deleveraging effort during H1 2025. Free cash flow was particularly robust, supported by seasonal inflows from maintenance and subscription renewals, as well as the first-time implementation of a factoring program on selected receivables. Unlevered free cash flow reached €76.4 million, enabling €42 million in debt repayments and boosting cash balances. As a result, net debt stood at €191.8 million (before IFRS 16), with a leverage ratio of 1.83x and a gearing ratio of 0.37x—achieving the full-year leverage target of below 2.0x well ahead of schedule. This deleveraging is expected to reduce interest expenses going forward. Due to seasonal patterns in cash collection, the leverage ratio is expected to remain below 2.0x through year-end, though without material further improvement.

    Shareholders’ equity stood at €512.8 million (72.8% of total capital) at June 30, 2025.

    Change in the workforce

    At June 30, 2025, the Group employed 4,679 full-time equivalents, compared with 4,787 at year-end 2024. This 2.6% reduction reflects continued disciplined workforce management across both Axway and SBS, aligned with the Group’s operational efficiency focus.

    Targets & Ambitions

    Following a strong first half, 74Software confirms its full-year 2025 guidance, underpinned by solid execution and front-loaded bookings. The Group continues to target revenue growth between 2% and 4%, reaching approximately €700 million, with an operating margin between 14% and 16%. Due to the first-time introduction of the factoring program, unlevered free cash flow is now expected to be at least 10% of revenue, and the leverage ratio is projected to remain below 2.0x.

    Looking ahead, 74Software reiterates its ambition to surpass €750 million in revenue by 2027 with an operating margin above 17%, and to reach around 20% by 2028 — in line with its trajectory toward a scalable, profitable, and product-led growth model.

    [ NEW TIME ] Today, Thursday, July 24, 2025, 6.00 p.m. (CEST):

    2025 HALF-YEAR RESULTS – VIRTUAL ANALYST CONFERENCE

    •  Register here or join by phone by dialing one of the numbers below:
      • France: +33 (0) 1 70 37 71 66 / USA: +1 786 697 3501 / International: +44 (0) 33 0551 0200

    Please note that the meeting will be held in English.

    Financial Calendar

    Thursday, October 30, 2025, before market opening: Publication of Q3 2025 Revenue

    Thursday, February 26, 2026, after market closing: Publication of 2025 Full-Year Results

    Glossary and Alternative Performance Measures

    Axway ARR: Annual Recurring Revenue – Expected annual billing amounts from all active maintenance and subscription agreements.

    SBS ARR: Annual Recurring Revenue – Monthly recurring revenue (MRR) for the last month of the reporting period multiplied by 12. Where contracts are affected by seasonality or contracted volume-based elements, the last 12 months of revenue are aggregated in determining ARR. Expected recurring revenue from contracts signed but not yet active are not included in ARR.

    NPS: Net Promoter Score – Customer satisfaction and recommendation indicator for a company.

    Organic growth: Growth in revenue between the period under review and the prior period, restated for consolidation scope and exchange rate impacts.

    Profit on operating activities: Profit from recurring operations adjusted for the non-cash share-based payment expense, as well as the amortization of allocated intangible assets.

    Proforma: Proforma measures assume the acquisition of SBS happened at the beginning of the respective reporting period.

    Restated revenue: Revenue for the prior year, adjusted for the consolidation scope and exchange rates of the current year.

    Unlevered free cash flow: Free cash flow before exceptional items and before net interest expense.

    About 74Software

    74Software is an enterprise software group founded through the combination of Axway and SBS – independently operated leaders with unique experience and capabilities to deliver mission-critical software for a data driven world. A pioneer in enterprise integration solutions for 25 years, Axway supports major brands and government agencies around the globe with its core line of MFT, B2B, API, and Financial Accounting Hub products. SBS empowers banks and financial institutions to reimagine tomorrow’s digital experiences with a composable cloud-based architecture that enables deposits, lending, compliance, payments, consumer, and asset finance services and operations to be deployed worldwide. 74Software serves more than 11,000 companies, including over 1,500 financial service customers. To learn more, visit 74Software.com

    Contacts – Investor Relations:

    Arthur Carli – +33 (0)1 47 17 24 65 – acarli@74software.com

    Chloé Chouard – +33 (0)1 47 17 21 78 – cchouard@74software.com

    Appendices (1/5)

    Income Statement – Group
                       
        Half-year 2025   Half-year 2024
    Proforma
    6M AXW + 6M SBS    		   Half-year 2024
    Reported
    Axway Standalone
        €m % of Rev.   €m % of Rev.   €m % of Rev.
    TOTAL REVENUE   344.0     323.9     148.7  
    Total costs of revenue   -115.9     -117.1     -44.0  
    GROSS PROFIT   228.1 66.3%   206.9 63.9%   104.7 70.5%
    Operating expenses   -186.8     -186.9     -87.6  
    PROFIT ON OPERATING ACTIVITIES   41.3 12.0%   19.9 6.1%   17.1 11.5%
    Share-based expenses   -6.7     -2.4     -2.9  
    Amortization of allocated intangibles   -6.2     -7.1     -1.7  
    PROFIT FROM RECURRING OPERATIONS   28.4 8.3%   10.5 3.2%   12.5 8.4%
    Other operating income and expenses   -8.9     -7.9     -4.1  
    OPERATING PROFIT   19.5 5.7%   2.6 0.8%   8.3 5.6%
    Cost of financial debt   -9.0     -8.9     -2.7  
    Other financial income and expenses   -2.2     -2.0     -0.9  
    Income tax expenses   -2.5     -7.2     -2.0  
    NET PROFIT   5.8 1.7%   -15.6 -4.8%   2.8 1.9%
    Earnings per share   0.20 €     -0.54 €     0.13 €  
    Simplified Balance Sheet                    
                         
    in €m   H1 2025
    IFRS
    Consolidated    		 FY 2024
    IFRS Consolidated    		 Change   in €m   H1 2025
    IFRS
    Consolidated    		 FY 2024
    IFRS Consolidated    		 Change
    Accounts receivables   246.7 293.5 – 46.8   Cash & cash equivalents   -57.8 -41.4 – 16.4
    Other current assets   123.3 101.9 + 21.4   Financial debt   249.6 291.8 – 42.2
    Accounts payables   -34.1 -28.7 – 5.4   Net debt   191.8 250.4 – 58.6
    Deferred revenue   -138.2 -88.6 – 49.6   Equity   512.8 532.4 – 19.6
    Other current liabilities   -137.2 -158.0 + 20.8   CAPITAL EMPLOYED   704.6 782.8 – 78.2
    Net working capital   60.5 120.1 – 59.7            
    Tangible fixed assets   20.9 25.0 – 4.1            
    Goodwill   523.1 497.4 + 25.7       H1 2025
    IFRS
    Consolidated    		 FY 2024
    IFRS Consolidated    		 Change
    Other intangibles   132.1 192.3 – 60.2      
    Fixed assets   676.1 714.7 – 38.6   Ratios  
    Other assets   100.2 78.1 + 22.1   DSO (days)   121 145 -24
    Other liabilities   -132.1 -130.1 – 2.0   Net debt / total capital   27.2% 32.0% – 4.8%
    Other assets – liabilities   -31.9 -52.0 + 20.1   Equity / total capital   72.8% 68.0% + 4.8%
    INVESTED ASSETS   704.5 782.8 – 78.4            
    Cash Flow Statement              
                   
      H1 2025   H1 2024   Change Axway
    H1 25 vs. H1 24
    in €m 74Software SBS Axway   Axway Standalone  
    Operating cashflow 89.6 35.8 53.9   15.0   + 38.8
    o/w change in NWC 55.0 29.4 25.6   2.6   + 23.1
    o/w other operating cashflow 34.6 6.4 28.2   12.5   + 15.7
    Investing cashflow -14.2 -9.8 -4.4   -2.7   – 1.6
    o/w PP&E & others -5.0 -0.6 -4.4   -2.7   – 1.7
    o/w capitalized R&D -9.2 -9.2 0.0   0.0   0.0
    Financing cashflow -58.1 -14.6 -43.4   -12.6   – 30.8
    o/w debt repayment -42.0 0.0 -42.0   0.0   – 42.0
    o/w other financing cashflow -16.1 -14.6 -1.4   -12.6   + 11.2
    NET CHANGE IN CASH 16.2 11.1 5.1   -0.2   + 5.3
                   
    Unlevered free cashflow 76.4 29.0 47.4   13.9   + 33.5
    as a % of revenue 22.2% 15.7% 29.5%   9.4%   + 20.1%

    Appendices (2/5)

    Profit on Operating Activities – Axway
                       
        H1 2025
    Axway    		   H1 2024
    Reported
    Axway    		   Change
        €m % of Rev.   €m % of Rev.   €m Basis Points
    Product revenue   143.3 89.1%   130.5 87.8%   + 12.8 + 134
    Services revenue   17.5 10.9%   18.2 12.2%   – 0.7 – 134
    Total revenue   160.8     148.7     + 12.1  
    Total costs of revenue   40.3     44.0     – 3.7  
    GROSS PROFIT   120.5 74.9%   104.7 70.4%   + 15.8 + 451
    o/w product gross profit   119.3 83.2%   104.6 80.2%   + 14.7 + 308
    o/w services gross profit   1.2 7.0%   0.1 0.6%   + 1.1 + 644
    Operating expenses   93.8 58.4%   87.6 58.9%   + 6.2 – 58
    o/w research & development   32.6 20.3%   31.2 21.0%   + 1.4 – 69
    o/w sales & marketing   43.0 26.8%   41.8 28.1%   + 1.2 – 137
    o/w general & administrative   18.2 11.3%   14.6 9.8%   + 3.6 + 148
    PROFIT ON OPERATING ACTIVITIES   26.7 16.6%   17.1 11.5%   + 9.6 + 508
    Profit on Operating Activities – SBS
                       
        H1 2025
    SBS    		   H1 2024
    Proforma
    SBS    		   Change
        €m % of Rev.   €m % of Rev.   €m Basis Points
    Product revenue   137.7 74.8%   118.2 67.5%   + 19.5 + 729
    Services revenue   46.5 25.2%   57.0 32.5%   – 10.5 – 729
    Total revenue   184.2     175.2     + 8.9  
    Total costs of revenue   76.6     73.1     + 3.5  
    GROSS PROFIT   107.6 58.4%   102.1 58.3%   + 5.5 + 14
    o/w product gross profit   98.6 71.6%   87.1 73.6%   + 11.5 – 202
    o/w services gross profit   9.0 19.3%   15.1 26.4%   – 6.1 – 710
    Operating expenses   93.0 50.5%   99.3 56.7%   – 6.3 – 619
    o/w research & development   60.6 32.9%   63.8 36.4%   – 3.3 – 354
    o/w sales & marketing   19.8 10.7%   20.5 11.7%   – 0.7 – 93
    o/w general & administrative   12.6 6.8%   15.0 8.6%   – 2.4 – 173
    PROFIT ON OPERATING ACTIVITIES   14.6 7.9%   2.8 1.6%   + 11.8 + 633
    Quarterly Revenue Breakdown by Portfolio Brand
                 
        Q1 2025   Q2 2025   H1 2025
    €m      
    Axway Scope   82.5   78.3   160.8
    SBS Scope   88.3   95.8   184.2
                 
    Consolidation   -0.4   -0.6   -1.0
                 
    74Software   170.4   173.5   344.0

    Appendices (3/5)

    Quarterly Revenue Breakdown by Type
                 
        Q1 2025   Q2 2025   H1 2025
    €m / %      
    Product revenue   139.1   141.0   280.0
    Recurring revenue   129.5   128.4   258.0
    o/w Maintenance & Support   47.0   44.5   91.5
    o/w Customer-managed Subscription   48.6   50.1   98.7
    o/w Own-managed Subscription   34.0   33.8   67.8
    License revenue   9.5   12.5   22.1
                 
    Services revenue   31.3   32.6   64.0
                 
    Total revenue   170.4   173.6   344.0
    Quarterly Revenue Breakdown by Type – Axway
                 
        Q1 2025   Q2 2025   H1 2025
    €m / %      
    Product revenue   73.4   69.8   143.3
    Recurring revenue   72.1   69.5   141.6
    o/w Maintenance & Support   14.4   12.8   27.2
    o/w Customer-managed Subscription   43.7   43.2   87.0
    o/w Own-managed Subscription   13.9   13.4   27.4
    License revenue   1.3   0.4   1.7
                 
    Services revenue   9.0   8.5   17.5
                 
    Total revenue – Axway   82.5   78.3   160.8
    Quarterly Revenue Breakdown by Type – SBS
                 
        Q1 2025   Q2 2025   H1 2025
    €m / %      
    Product revenue   66.0   71.7   137.7
    Recurring revenue   57.9   59.5   117.3
    o/w Maintenance & Support   32.5   31.7   64.2
    o/w Customer-managed Subscription   4.9   6.9   11.7
    o/w Own-managed Subscription   20.5   20.9   41.4
    License revenue   8.2   12.2   20.4
                 
    Services revenue   22.3   24.2   46.5
                 
    Total revenue SBS   88.3   95.8   184.2

    Appendices (4/5)

    Half-year Revenue Breakdown by Portfolio Brand & Type      
                     
        H1 2025
    Axway    		   H1 2025
    SBS    		   H1 2025
    Consolidation    		   H1 2025
    74Software
    €m / %        
    Product revenue   143.3   137.7   -1.0   280.0
    Recurring revenue   141.6   117.3   -1.0   258.0
    o/w Maintenance & Support   27.2   64.2   0.0   91.5
    o/w Customer-managed Subscription   87.0   11.7   0.0   98.7
    o/w Own-managed Subscription   27.4   41.4   -1.0   67.8
    License revenue   1.7   20.4   0.0   22.1
                     
    Services revenue   17.5   46.5   0.0   64.0
                     
    Total revenue   160.8   184.2   -1.0   344.0
    Half-year Revenue Breakdown by Portfolio Brand & Type      
                     
        H1 2024
    Axway    		   H1 2024 Proforma
    SBS    		   H1 2024 Proforma Consolidation   H1 2024 Proforma 74Software
    €m / %        
    Product revenue   130.5   118.2   0.0   248.7
    Recurring revenue   127.9   101.4   0.0   229.3
    o/w Maintenance & Support   34.6   61.6   0.0   96.2
    o/w Customer-managed Subscription   67.3   9.3   0.0   76.6
    o/w Own-managed Subscription   25.9   30.5   0.0   56.5
    License revenue   2.6   16.8   0.0   19.4
                     
    Services revenue   18.2   57.0   0.0   75.2
                     
    Total revenue   148.7   175.2   0.0   323.9
    Half-year Revenue Breakdown by Region
                 
      H1 2025 H1 2024
    Proforma    		 H1 2024
    Restated    		 Total
    Growth    		 Organic
    Growth
     
      €m % of Rev.
    Europe 208.1 60.5% 203.0 203.2 2.5% 2.4%
    o/w France 99.5 28.9% 99.7 99.7 -0.2% -0.2%
    o/w UK 46.7 13.6% 44.8 45.0 4.3% 3.7%
    Americas 73.3 21.3% 65.6 64.6 11.7% 13.5%
    Middle East & Africa 43.1 12.5% 39.3 39.3 9.7% 9.7%
    Asia & Pacific 19.4 5.7% 15.9 15.8 22.0% 22.7%
                 
    74Software 344.0   323.9 323.0 6.2% 6.5%

    Appendices (5/5)

    Headcount
           
      30/06/2025 31/12/2024 Change
    Europe 3.001 3.090 -89
    Americas 370 378 -8
    Asia – Pacific 869 882 -13
    Middle East – Africa 439 437 2
           
    TOTAL 4.679 4.787 -108
    Impact on Half-year Revenue of Changes in Scope and Exchange Rates
           
    €m / % H1 2025 H1 2024 Growth
    Revenue 344.0 148.7 + 131.4%
    Changes in exchange rates   -0.9  
    Revenue at constant exchange rates 344.0 147.7 + 132.8%
    Changes in scope   +175.2  
    Revenue at constant scope and exchange rates 344.0 323.0 + 6.5%
    Changes in Main Exchange Rates
           
    For 1€ Average Rate
    H1 2025    		 Average rate
    H1 2024    		 Change
    US Dollar 1.093 1.081 – 1.1%
    Great Britain Pound 0.842 0.855 + 1.5%

    1 The interim consolidated financial statements were subject to limited review procedures.

    Attachment

    • 24072025_74Software_PR_H1 Results 2025_English_VFinal

    The MIL Network –

    July 25, 2025

  • MIL-OSI: 74Software: Sustained Momentum Reinforces Long-Term Objectives

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Paris, July 24, 2025

    74Software: Sustained Momentum Reinforces Long-Term Objectives

    • Group H1 2025 revenue of €344.0m, up 6.5% organically and 6.2% in total
    • Strong H1 across both brands – Axway up 8.9% to €160.8m and SBS up 5.0% to €184.2m
    • Marked improvement in margin on operating activities, up 585bps to 12.0% of revenue (€41.3m)
    • ARR increased year-on-year by 11.8% at Axway and 10.9% at SBS, further strengthening recurring revenues

    74Software’s Board of Directors, chaired by Pierre Pasquier, approved today the financial statements for the first half of 2025, which were subject to a limited review by the statutory auditors1. Consequently, 74Software announces:

    Half-Year Key Income Statement Items
                       
        Half-year 2025   Half-year 2024
    Proforma
    6M AXW + 6M SBS    		   Half-year 2024
    Reported
    Axway Standalone
        €m % of Rev.   €m % of Rev.   €m % of Rev.
    TOTAL REVENUE   344.0     323.9     148.7  
    GROSS PROFIT   228.1 66.3%   206.8 63.9%   104.7 70.5%
    PROFIT ON OPERATING ACTIVITIES   41.3 12.0%   19.9 6.1%   17.1 11.5%
    OPERATING PROFIT   19.5 5.7%   2.6 0.8%   8.3 5.6%
    NET PROFIT   5.8 1.7%   -15.6 -4.8%   2.8 1.9%
    EARNINGS PER SHARE   0.20 €     -0.54 €     0.13 €  

    Patrick Donovan, Chief Executive Officer, stated:

    “Our H1 results confirm our strong start to the year and demonstrate both the strength of our strategic direction and our ability to execute in-line with our stated plans. As noted in our Q1 press release, the solid early execution front-loads part of the year’s commercial activity— especially in the Axway business. We remain fully committed to our full-year guidance and, more broadly, to our 2027 and 2028 ambitions. Axway is now firmly established as a subscription-first business, while SBS is rapidly scaling its modular banking platforms and expanding its SaaS footprint. With recurring revenue accelerating and capital deployment tightly managed, 74Software is becoming a more structured, resilient, and forward-looking group — built to deliver long-term value creation.”

    Comments on H1 2025 activity

    74Software delivered a strong first-half performance, confirming its ability to execute on its strategic roadmap and capitalize on the operational integration initiated following the transaction closing in September 2024. Revenue growth was solid in both brands, while profitability improved as planned — reflecting the strength of the Group’s model and the improved execution driven by Axway’s infrastructure software expertise and SBS’s leadership in banking software.

    Following a particularly dynamic Q1, the second quarter allowed the Group to consolidate its gains, maintain commercial selectivity, and further shift toward a recurring, scalable revenue model. Axway has now largely transitioned, while SBS continues to advance its own transformation, expanding SaaS deployments and rebalancing its revenue mix in favor of product revenue. Key highlights for the period include:

    • Axway recorded a strong first half, with consistent growth across all product lines. Nearly 60 new customers were signed during the period (+20% year-on-year), with new-name deals accounting for around one-third of Q2 bookings. Large-scale projects gained momentum, including six contracts exceeding €1 million signed in Q2 alone. Demand for cloud-based delivery continued to rise, with Axway-managed deployments representing 40% of Q2 bookings and 35% over the first half. This shift was broad-based, with steady adoption across all geographies and industry verticals.
    • SBS also reported strong results, with product revenue now accounting for 75% of total revenue, up from 67% in H1 2024 — marking significant progress in the company’s shift toward a software-led model. Growth was supported by all product lines, including solid license activity in integrated platforms, components, and financing solutions, as well as continued expansion of modular offerings. The company has now contracted more than 230 SaaS regulatory reporting services, reinforcing adoption across its client base. During the period, SBS welcomed several new clients and completed the first SaaS deployment of its digital engagement platform in Europe. Two additional implementations are scheduled for the third quarter in Africa, where demand is driven by microfinance and Islamic banking. The company’s progress was also recognized through multiple industry awards highlighting its leadership in compliance, payments, and digital banking.

    The Group enters H2 with improving visibility, disciplined execution, and a clear focus on delivering its full-year objectives. Integration of support functions between Axway and SBS is now largely complete, and joint commercial initiatives are steadily expanding across selected regions.

    Comments on H1 2025 operational performance

    Half-year Revenue Breakdown by Portfolio Brand
               
      H1 2025 H1 2024
    Proforma    		 H1 2024
    Restated    		 Total
    Growth    		 Organic
    Growth
    €m / %
    Axway Scope 160.8 148.7 147.6 8.1% 8.9%
    SBS Scope 184.2 175.2 175.4 5.1% 5.0%
               
    Consolidation -1.0 0.0 0.0 – –
               
    74Software 344.0 323.9 323.0 6.2% 6.5%

    In the first half of 2025, the Group generated revenue of €344.0 million, reflecting total growth of 6.2% and organic growth of 6.5% year-on-year. This performance was supported by both brands, with Axway contributing €160.8 million in revenue and organic growth of 8.9%, and SBS contributing €184.2 million with 5.0% organic growth (compared to proforma H1 2024).

    Half-year Revenue Breakdown by Type
               
      H1 2025 H1 2024
    Proforma    		 H1 2024
    Restated    		 Total
    Growth    		 Organic
    Growth
    €m / %
    Product revenue 280.0 248.7 248.1 12.6% 12.9%
    Recurring revenue 258.0 229.3 228.7 12.5% 12.8%
    o/w Maintenance & Support 91.5 96.2 96.0 -4.9% -4.7%
    o/w Customer-managed Subscription 98.7 76.6 76.5 28.8% 29.0%
    o/w Own-managed Subscription 67.8 56.5 56.2 20.0% 20.6%
    License revenue 22.1 19.4 19.4 13.5% 13.7%
               
    Services revenue 64.0 75.2 74.9 -14.9% -14.6%
               
    Total revenue 344.0 323.9 323.0 6.2% 6.5%

    In the first half of 2025, Product revenue reached €280.0 million, up 12.9% organically, reflecting strong execution across both Axway and SBS. The Group continued to benefit from rising demand for subscription-based offers, with both customer-managed and own-managed subscriptions posting growth above 20%. Maintenance revenue declined as anticipated, while license activity increased but remained low at 6.4% of total revenue. Product revenues accounted for 81% of total revenue (up from 77% in H1 2024) and recurring revenues were at 75% of total revenue (up from 71% in H1 2024), confirming 74Software’s successful transition toward a product- and subscription-led model.

    Axway generated €143.3 million in product revenue, up 10.5% organically. Recurring activities made nearly the entire contribution, driven by a 29.5% increase in customer-managed subscriptions and 6.8% growth in own-managed deployments, reflecting continued momentum in hybrid environments. License revenue decreased by 34.9% as the company continues to phase out new license sales. Maintenance and support dropped by 20.6% due to the continued shift of the customer base towards subscription models. Services revenue was slightly lower, down 2.2%, and represented 11% of Axway’s total.

    SBS recorded €137.7 million in product revenue, up 16.3% organically, with strong performance across all product categories. Own-managed subscriptions rose by 35.2%, customer-managed subscriptions by 25.5%, and maintenance and support increased by 4.2%, supported by a growing installed base. License revenue climbed 21.2%, reflecting continued expansion of integrated and lending solutions. Recurring revenue now represents 64% of SBS’s business (up from 58% in H1 2024), with services accounting for 25% and licenses for 11%. This illustrates SBS’s continued shift from a service-led to a product-led business model.

    Group-wide, Services generated €64.0 million in the first half, or 18.6% of total revenue, down 14.6% compared to last year. This decrease mainly reflects SBS’s repositioning, while Axway’s service contribution remained stable. The difference in service trends between the two businesses stems from their respective models. Axway relies on lighter implementation cycles, whereas SBS delivers more comprehensive banking transformation programs.

    At the end of June 2025, ARR for Axway stood at €255.9 million, reflecting an organic growth of 11.8% year-on-year. SBS also continued to expand its ARR to €233.3 million, up 10.9% organically year-on-year. These solid performances confirm the effectiveness of both companies’ strategic repositioning and reinforce the Group’s revenue predictability and resilience.

    Comments on H1 2025 product line performance

    Axway, a recognized leader in application infrastructure and middleware, delivered solid momentum in the first half of 2025. All product lines contributed to growth, supported by strong commercial execution and increasing demand for cloud-based solutions:

    • Managed File Transfer remained a key contributor despite a normalization of activity following an exceptional 2024. The gradual erosion of legacy maintenance was more than offset by strong momentum in managed deployments, confirming the sustained value of Axway’s hybrid approach.
    • B2B Integration delivered robust gains across the board, benefiting from growing demand for managed solutions and early signs of successful cross-sell with SBS. The product line also saw improvements in both subscription and service revenue.
    • API Management accelerated sharply, supported by strong commercial execution and increased adoption of its integration and engagement modules. The Fusion extension also contributed positively, confirming the platform’s potential.
    • Specialized Products, including the Financial Accounting Hub, maintained steady momentum through targeted compliance and finance use cases. Recent wins via ecosystem partnerships reinforced Axway’s positioning with key accounts.

    SBS, a trusted provider of banking and financing software, posted solid growth in all product lines, confirming the strength of its modular and targeted approach as it continues its shift toward a product-led model:

    • Financing Products maintained a steady trajectory, reflecting stable demand in wholesale auto finance and UK mortgage service. Activity remained resilient despite longer decision cycles in certain regions.
      • Modular Products continued to gain traction, primarily driven by momentum in instant payments and the regulatory reporting platform. Cross-sell into the integrated base gained pace, confirming the appeal of modular architectures.
      • Integrated Products delivered consistent performance, with solid customer retention and ongoing functional improvements. In some markets, modular alternatives are beginning to complement legacy platforms, paving the way for more composable setups. SBS’ market-leading product in Africa continues to perform strongly, adding new customers as well as increasing share of wallet in its installed base.
    • Banking Components continued to gain momentum, particularly in payments, lending, and cards. The strength of customer relationships across key accounts in France continues to drive upsells.

    Comments on H1 2025 profit on operating activities

    Profit on Operating Activities – Group
                       
        H1 2025   H1 2024
    Proforma    		   Change
        €m % of Rev.   €m % of Rev.   €m Basis Points
    Product revenue   280.0 81.4%   248.7 76.8%   + 31.3 + 461
    Services revenue   64.0 18.6%   75.2 23.2%   – 11.2 – 461
    Total revenue   344.0     323.9     + 20.1  
    Total costs of revenue   115.9     117.1     – 1.2  
    GROSS PROFIT   228.1 66.3%   206.9 63.9%   + 21.2 + 243
    o/w product gross profit   217.9 77.8%   191.7 77.0%   + 26.2 + 75
    o/w services gross profit   10.2 15.9%   15.2 20.2%   – 5.0 – 422
    Operating expenses   186.8 54.3%   186.9 57.7%   – 0.1 – 341
    o/w research & development   93.2 27.1%   95.0 29.3%   – 1.8 – 224
    o/w sales & marketing   62.8 18.3%   62.3 19.2%   + 0.5 – 96
    o/w general & administrative   30.8 8.9%   29.6 9.1%   + 1.1 – 20
    PROFIT ON OPERATING ACTIVITIES   41.3 12.0%   19.9 6.1%   + 21.4 + 585
    Net Capitalisation of R&D   8.4 2.4%   9.1 2.8%   – 0.8 – 39
    in % of gross R&D   8.2%     8.8%     -0.5%  

    In H1 2025, profit on operating activities reached €41.3 million, representing a margin of 12.0% of revenue, compared with 6.1% in H1 2024. This sharp improvement reflects strong gross profit expansion, driven by a more favorable revenue mix and tight cost control across operating expenses with all lines showing year-on-year efficiencies. Gross margins increased—particularly at Axway—thanks to strong bookings in customer-managed subscriptions, which generated significant upfront revenue at high margins.

    Comments on H1 2025 net profit

    Net Profit – Group
                       
        Half-year 2025   Half-year 2024
    Proforma
    6M AXW + 6M SBS    		   Half-year 2024
    Reported
    Axway Standalone
        €m % of Rev.   €m % of Rev.   €m % of Rev.
    PROFIT ON OPERATING ACTIVITIES   41.3 12.0%   19.9 6.1%   17.1 11.5%
    Share-based expenses   -6.7     -2.4     -2.9  
    Amortization of allocated intangibles   -6.2     -7.1     -1.7  
    PROFIT FROM RECURRING OPERATIONS   28.4 8.3%   10.5 3.2%   12.5 8.4%
    Other operating income and expenses   -8.9     -7.9     -4.1  
    OPERATING PROFIT   19.5 5.7%   2.6 0.8%   8.3 5.6%
    Cost of financial debt   -9.0     -8.9     -2.7  
    Other financial income and expenses   -2.2     -2.0     -0.9  
    Income tax expenses   -2.5     -7.2     -2.0  
    NET PROFIT   5.8 1.7%   -15.6 -4.8%   2.8 1.9%
    Earnings per share   0.20 €     -0.54 €     0.13 €  

    Profit from recurring operations reached €28.4 million, after accounting for the amortization of allocated intangibles and share-based expenses. This marks a substantial improvement from the H1 2024 proforma figure of €10.5 million.

    Share-based expenses increased, reflecting the inclusion of SBS in the new long-term incentive program, the Group’s strong share price performance, and higher employer social security rates in France. The purchase price allocation (PPA) related to the SBS acquisition has now been finalized. Amortization of allocated intangibles has been restated for 2024 on a pro forma basis and is expected to total €12–13 million for full-year 2025.

    After including other operating income and expenses, such as restructuring charges and non-recurring items totaling €8.9 million, operating profit amounted to €19.5 million, compared with €2.6 million on a proforma basis in H1 2024.

    Net profit for the half-year came to €5.8 million (1.7%), a significant turnaround from the €15.6 million loss recorded on a proforma basis in the prior year.

    Basic earnings per share stood at €0.20, compared with a loss of €0.54 per share in the first half of 2024 (proforma).

    Financial position on June 30, 2025

    74Software made strong progress in its deleveraging effort during H1 2025. Free cash flow was particularly robust, supported by seasonal inflows from maintenance and subscription renewals, as well as the first-time implementation of a factoring program on selected receivables. Unlevered free cash flow reached €76.4 million, enabling €42 million in debt repayments and boosting cash balances. As a result, net debt stood at €191.8 million (before IFRS 16), with a leverage ratio of 1.83x and a gearing ratio of 0.37x—achieving the full-year leverage target of below 2.0x well ahead of schedule. This deleveraging is expected to reduce interest expenses going forward. Due to seasonal patterns in cash collection, the leverage ratio is expected to remain below 2.0x through year-end, though without material further improvement.

    Shareholders’ equity stood at €512.8 million (72.8% of total capital) at June 30, 2025.

    Change in the workforce

    At June 30, 2025, the Group employed 4,679 full-time equivalents, compared with 4,787 at year-end 2024. This 2.6% reduction reflects continued disciplined workforce management across both Axway and SBS, aligned with the Group’s operational efficiency focus.

    Targets & Ambitions

    Following a strong first half, 74Software confirms its full-year 2025 guidance, underpinned by solid execution and front-loaded bookings. The Group continues to target revenue growth between 2% and 4%, reaching approximately €700 million, with an operating margin between 14% and 16%. Due to the first-time introduction of the factoring program, unlevered free cash flow is now expected to be at least 10% of revenue, and the leverage ratio is projected to remain below 2.0x.

    Looking ahead, 74Software reiterates its ambition to surpass €750 million in revenue by 2027 with an operating margin above 17%, and to reach around 20% by 2028 — in line with its trajectory toward a scalable, profitable, and product-led growth model.

    [ NEW TIME ] Today, Thursday, July 24, 2025, 6.00 p.m. (CEST):

    2025 HALF-YEAR RESULTS – VIRTUAL ANALYST CONFERENCE

    •  Register here or join by phone by dialing one of the numbers below:
      • France: +33 (0) 1 70 37 71 66 / USA: +1 786 697 3501 / International: +44 (0) 33 0551 0200

    Please note that the meeting will be held in English.

    Financial Calendar

    Thursday, October 30, 2025, before market opening: Publication of Q3 2025 Revenue

    Thursday, February 26, 2026, after market closing: Publication of 2025 Full-Year Results

    Glossary and Alternative Performance Measures

    Axway ARR: Annual Recurring Revenue – Expected annual billing amounts from all active maintenance and subscription agreements.

    SBS ARR: Annual Recurring Revenue – Monthly recurring revenue (MRR) for the last month of the reporting period multiplied by 12. Where contracts are affected by seasonality or contracted volume-based elements, the last 12 months of revenue are aggregated in determining ARR. Expected recurring revenue from contracts signed but not yet active are not included in ARR.

    NPS: Net Promoter Score – Customer satisfaction and recommendation indicator for a company.

    Organic growth: Growth in revenue between the period under review and the prior period, restated for consolidation scope and exchange rate impacts.

    Profit on operating activities: Profit from recurring operations adjusted for the non-cash share-based payment expense, as well as the amortization of allocated intangible assets.

    Proforma: Proforma measures assume the acquisition of SBS happened at the beginning of the respective reporting period.

    Restated revenue: Revenue for the prior year, adjusted for the consolidation scope and exchange rates of the current year.

    Unlevered free cash flow: Free cash flow before exceptional items and before net interest expense.

    About 74Software

    74Software is an enterprise software group founded through the combination of Axway and SBS – independently operated leaders with unique experience and capabilities to deliver mission-critical software for a data driven world. A pioneer in enterprise integration solutions for 25 years, Axway supports major brands and government agencies around the globe with its core line of MFT, B2B, API, and Financial Accounting Hub products. SBS empowers banks and financial institutions to reimagine tomorrow’s digital experiences with a composable cloud-based architecture that enables deposits, lending, compliance, payments, consumer, and asset finance services and operations to be deployed worldwide. 74Software serves more than 11,000 companies, including over 1,500 financial service customers. To learn more, visit 74Software.com

    Contacts – Investor Relations:

    Arthur Carli – +33 (0)1 47 17 24 65 – acarli@74software.com

    Chloé Chouard – +33 (0)1 47 17 21 78 – cchouard@74software.com

    Appendices (1/5)

    Income Statement – Group
                       
        Half-year 2025   Half-year 2024
    Proforma
    6M AXW + 6M SBS    		   Half-year 2024
    Reported
    Axway Standalone
        €m % of Rev.   €m % of Rev.   €m % of Rev.
    TOTAL REVENUE   344.0     323.9     148.7  
    Total costs of revenue   -115.9     -117.1     -44.0  
    GROSS PROFIT   228.1 66.3%   206.9 63.9%   104.7 70.5%
    Operating expenses   -186.8     -186.9     -87.6  
    PROFIT ON OPERATING ACTIVITIES   41.3 12.0%   19.9 6.1%   17.1 11.5%
    Share-based expenses   -6.7     -2.4     -2.9  
    Amortization of allocated intangibles   -6.2     -7.1     -1.7  
    PROFIT FROM RECURRING OPERATIONS   28.4 8.3%   10.5 3.2%   12.5 8.4%
    Other operating income and expenses   -8.9     -7.9     -4.1  
    OPERATING PROFIT   19.5 5.7%   2.6 0.8%   8.3 5.6%
    Cost of financial debt   -9.0     -8.9     -2.7  
    Other financial income and expenses   -2.2     -2.0     -0.9  
    Income tax expenses   -2.5     -7.2     -2.0  
    NET PROFIT   5.8 1.7%   -15.6 -4.8%   2.8 1.9%
    Earnings per share   0.20 €     -0.54 €     0.13 €  
    Simplified Balance Sheet                    
                         
    in €m   H1 2025
    IFRS
    Consolidated    		 FY 2024
    IFRS Consolidated    		 Change   in €m   H1 2025
    IFRS
    Consolidated    		 FY 2024
    IFRS Consolidated    		 Change
    Accounts receivables   246.7 293.5 – 46.8   Cash & cash equivalents   -57.8 -41.4 – 16.4
    Other current assets   123.3 101.9 + 21.4   Financial debt   249.6 291.8 – 42.2
    Accounts payables   -34.1 -28.7 – 5.4   Net debt   191.8 250.4 – 58.6
    Deferred revenue   -138.2 -88.6 – 49.6   Equity   512.8 532.4 – 19.6
    Other current liabilities   -137.2 -158.0 + 20.8   CAPITAL EMPLOYED   704.6 782.8 – 78.2
    Net working capital   60.5 120.1 – 59.7            
    Tangible fixed assets   20.9 25.0 – 4.1            
    Goodwill   523.1 497.4 + 25.7       H1 2025
    IFRS
    Consolidated    		 FY 2024
    IFRS Consolidated    		 Change
    Other intangibles   132.1 192.3 – 60.2      
    Fixed assets   676.1 714.7 – 38.6   Ratios  
    Other assets   100.2 78.1 + 22.1   DSO (days)   121 145 -24
    Other liabilities   -132.1 -130.1 – 2.0   Net debt / total capital   27.2% 32.0% – 4.8%
    Other assets – liabilities   -31.9 -52.0 + 20.1   Equity / total capital   72.8% 68.0% + 4.8%
    INVESTED ASSETS   704.5 782.8 – 78.4            
    Cash Flow Statement              
                   
      H1 2025   H1 2024   Change Axway
    H1 25 vs. H1 24
    in €m 74Software SBS Axway   Axway Standalone  
    Operating cashflow 89.6 35.8 53.9   15.0   + 38.8
    o/w change in NWC 55.0 29.4 25.6   2.6   + 23.1
    o/w other operating cashflow 34.6 6.4 28.2   12.5   + 15.7
    Investing cashflow -14.2 -9.8 -4.4   -2.7   – 1.6
    o/w PP&E & others -5.0 -0.6 -4.4   -2.7   – 1.7
    o/w capitalized R&D -9.2 -9.2 0.0   0.0   0.0
    Financing cashflow -58.1 -14.6 -43.4   -12.6   – 30.8
    o/w debt repayment -42.0 0.0 -42.0   0.0   – 42.0
    o/w other financing cashflow -16.1 -14.6 -1.4   -12.6   + 11.2
    NET CHANGE IN CASH 16.2 11.1 5.1   -0.2   + 5.3
                   
    Unlevered free cashflow 76.4 29.0 47.4   13.9   + 33.5
    as a % of revenue 22.2% 15.7% 29.5%   9.4%   + 20.1%

    Appendices (2/5)

    Profit on Operating Activities – Axway
                       
        H1 2025
    Axway    		   H1 2024
    Reported
    Axway    		   Change
        €m % of Rev.   €m % of Rev.   €m Basis Points
    Product revenue   143.3 89.1%   130.5 87.8%   + 12.8 + 134
    Services revenue   17.5 10.9%   18.2 12.2%   – 0.7 – 134
    Total revenue   160.8     148.7     + 12.1  
    Total costs of revenue   40.3     44.0     – 3.7  
    GROSS PROFIT   120.5 74.9%   104.7 70.4%   + 15.8 + 451
    o/w product gross profit   119.3 83.2%   104.6 80.2%   + 14.7 + 308
    o/w services gross profit   1.2 7.0%   0.1 0.6%   + 1.1 + 644
    Operating expenses   93.8 58.4%   87.6 58.9%   + 6.2 – 58
    o/w research & development   32.6 20.3%   31.2 21.0%   + 1.4 – 69
    o/w sales & marketing   43.0 26.8%   41.8 28.1%   + 1.2 – 137
    o/w general & administrative   18.2 11.3%   14.6 9.8%   + 3.6 + 148
    PROFIT ON OPERATING ACTIVITIES   26.7 16.6%   17.1 11.5%   + 9.6 + 508
    Profit on Operating Activities – SBS
                       
        H1 2025
    SBS    		   H1 2024
    Proforma
    SBS    		   Change
        €m % of Rev.   €m % of Rev.   €m Basis Points
    Product revenue   137.7 74.8%   118.2 67.5%   + 19.5 + 729
    Services revenue   46.5 25.2%   57.0 32.5%   – 10.5 – 729
    Total revenue   184.2     175.2     + 8.9  
    Total costs of revenue   76.6     73.1     + 3.5  
    GROSS PROFIT   107.6 58.4%   102.1 58.3%   + 5.5 + 14
    o/w product gross profit   98.6 71.6%   87.1 73.6%   + 11.5 – 202
    o/w services gross profit   9.0 19.3%   15.1 26.4%   – 6.1 – 710
    Operating expenses   93.0 50.5%   99.3 56.7%   – 6.3 – 619
    o/w research & development   60.6 32.9%   63.8 36.4%   – 3.3 – 354
    o/w sales & marketing   19.8 10.7%   20.5 11.7%   – 0.7 – 93
    o/w general & administrative   12.6 6.8%   15.0 8.6%   – 2.4 – 173
    PROFIT ON OPERATING ACTIVITIES   14.6 7.9%   2.8 1.6%   + 11.8 + 633
    Quarterly Revenue Breakdown by Portfolio Brand
                 
        Q1 2025   Q2 2025   H1 2025
    €m      
    Axway Scope   82.5   78.3   160.8
    SBS Scope   88.3   95.8   184.2
                 
    Consolidation   -0.4   -0.6   -1.0
                 
    74Software   170.4   173.5   344.0

    Appendices (3/5)

    Quarterly Revenue Breakdown by Type
                 
        Q1 2025   Q2 2025   H1 2025
    €m / %      
    Product revenue   139.1   141.0   280.0
    Recurring revenue   129.5   128.4   258.0
    o/w Maintenance & Support   47.0   44.5   91.5
    o/w Customer-managed Subscription   48.6   50.1   98.7
    o/w Own-managed Subscription   34.0   33.8   67.8
    License revenue   9.5   12.5   22.1
                 
    Services revenue   31.3   32.6   64.0
                 
    Total revenue   170.4   173.6   344.0
    Quarterly Revenue Breakdown by Type – Axway
                 
        Q1 2025   Q2 2025   H1 2025
    €m / %      
    Product revenue   73.4   69.8   143.3
    Recurring revenue   72.1   69.5   141.6
    o/w Maintenance & Support   14.4   12.8   27.2
    o/w Customer-managed Subscription   43.7   43.2   87.0
    o/w Own-managed Subscription   13.9   13.4   27.4
    License revenue   1.3   0.4   1.7
                 
    Services revenue   9.0   8.5   17.5
                 
    Total revenue – Axway   82.5   78.3   160.8
    Quarterly Revenue Breakdown by Type – SBS
                 
        Q1 2025   Q2 2025   H1 2025
    €m / %      
    Product revenue   66.0   71.7   137.7
    Recurring revenue   57.9   59.5   117.3
    o/w Maintenance & Support   32.5   31.7   64.2
    o/w Customer-managed Subscription   4.9   6.9   11.7
    o/w Own-managed Subscription   20.5   20.9   41.4
    License revenue   8.2   12.2   20.4
                 
    Services revenue   22.3   24.2   46.5
                 
    Total revenue SBS   88.3   95.8   184.2

    Appendices (4/5)

    Half-year Revenue Breakdown by Portfolio Brand & Type      
                     
        H1 2025
    Axway    		   H1 2025
    SBS    		   H1 2025
    Consolidation    		   H1 2025
    74Software
    €m / %        
    Product revenue   143.3   137.7   -1.0   280.0
    Recurring revenue   141.6   117.3   -1.0   258.0
    o/w Maintenance & Support   27.2   64.2   0.0   91.5
    o/w Customer-managed Subscription   87.0   11.7   0.0   98.7
    o/w Own-managed Subscription   27.4   41.4   -1.0   67.8
    License revenue   1.7   20.4   0.0   22.1
                     
    Services revenue   17.5   46.5   0.0   64.0
                     
    Total revenue   160.8   184.2   -1.0   344.0
    Half-year Revenue Breakdown by Portfolio Brand & Type      
                     
        H1 2024
    Axway    		   H1 2024 Proforma
    SBS    		   H1 2024 Proforma Consolidation   H1 2024 Proforma 74Software
    €m / %        
    Product revenue   130.5   118.2   0.0   248.7
    Recurring revenue   127.9   101.4   0.0   229.3
    o/w Maintenance & Support   34.6   61.6   0.0   96.2
    o/w Customer-managed Subscription   67.3   9.3   0.0   76.6
    o/w Own-managed Subscription   25.9   30.5   0.0   56.5
    License revenue   2.6   16.8   0.0   19.4
                     
    Services revenue   18.2   57.0   0.0   75.2
                     
    Total revenue   148.7   175.2   0.0   323.9
    Half-year Revenue Breakdown by Region
                 
      H1 2025 H1 2024
    Proforma    		 H1 2024
    Restated    		 Total
    Growth    		 Organic
    Growth
     
      €m % of Rev.
    Europe 208.1 60.5% 203.0 203.2 2.5% 2.4%
    o/w France 99.5 28.9% 99.7 99.7 -0.2% -0.2%
    o/w UK 46.7 13.6% 44.8 45.0 4.3% 3.7%
    Americas 73.3 21.3% 65.6 64.6 11.7% 13.5%
    Middle East & Africa 43.1 12.5% 39.3 39.3 9.7% 9.7%
    Asia & Pacific 19.4 5.7% 15.9 15.8 22.0% 22.7%
                 
    74Software 344.0   323.9 323.0 6.2% 6.5%

    Appendices (5/5)

    Headcount
           
      30/06/2025 31/12/2024 Change
    Europe 3.001 3.090 -89
    Americas 370 378 -8
    Asia – Pacific 869 882 -13
    Middle East – Africa 439 437 2
           
    TOTAL 4.679 4.787 -108
    Impact on Half-year Revenue of Changes in Scope and Exchange Rates
           
    €m / % H1 2025 H1 2024 Growth
    Revenue 344.0 148.7 + 131.4%
    Changes in exchange rates   -0.9  
    Revenue at constant exchange rates 344.0 147.7 + 132.8%
    Changes in scope   +175.2  
    Revenue at constant scope and exchange rates 344.0 323.0 + 6.5%
    Changes in Main Exchange Rates
           
    For 1€ Average Rate
    H1 2025    		 Average rate
    H1 2024    		 Change
    US Dollar 1.093 1.081 – 1.1%
    Great Britain Pound 0.842 0.855 + 1.5%

    1 The interim consolidated financial statements were subject to limited review procedures.

    Attachment

    • 24072025_74Software_PR_H1 Results 2025_English_VFinal

    The MIL Network –

    July 25, 2025

  • MIL-OSI: Cegedim: Like-for-like revenues grew 2.8% in the first half

    Source: GlobeNewswire (MIL-OSI)

         

    PRESS RELEASE

    First-half financial information as of June 30, 2025
    IFRS – Regulated information – Not audited

    Cegedim: Like-for-like revenues grew 2.8% in the first half

    • Revenue grew 1.1% as reported and 2.8% LFL to €322.5 million in the first half of 2025.
    • The HR, marketing, health insurance, and digitalization businesses delivered the most solid growth.

    Boulogne-Billancourt, France, July 24, 2025, after the market close

    Revenue

      First half Change H1 2025 / 2024
    in millions of euros 2025 2024 Reported Life for like(1)(2)
    Software & Services 144.4 152.1 (5.1)% (1.5)%
    Flow 53.4 49.5 +7.8% +7.7%
    Data & Marketing 63.4 59.3 +6.9% +6.8%
    BPO 43.2 39.9 +8.1% +8.1%
    Cloud & Support 18.2 18.1 +0.3% +0.3%
    Cegedim 322.5 319.0 +1.1% +2.8%

    Cegedim’s consolidated first-half 2025 revenues rose to €322.5 million, up 1.1% as reported and 2.8% like for like(1) compared with the same period in 2024.

    The HR, marketing, health insurance, and invoice & procurement digitalization businesses delivered the most solid growth over the first half. The deconsolidation of INPS in the UK on December 10, 2024, following its voluntary placement in administration, weighed on reported growth at the Software & Services division and Group level.

    Analysis of business trends by division

    • Software & Services
    Software & Services First half Change H1 2025 / 2024
    in millions of euros 2025 2024 Reported Like for like(1)
    Cegedim Santé 38.4 38.9 (1.3)% (5.7)%
    Insurance, HR, Pharmacies, and other services 87.5 86.7 +0.9% +1.0%
    International businesses 18.5 26.5 (30.3)% (3.2)%
    Software & Services 144.4 152.1        (5.1)% (1.5)%

    Revenues at Cegedim Santé fell 1.3% as reported in the first half, and 5.7% like for like. Visiodent contributed over the entire first half, vs just four months in 2024. Maiia software and the Claude Bernard database both performed well, whereas orders for more established offerings were somewhat subdued. Sales mainly slowed because a data service agreement came to an end in late 2024 and was renewed in the second quarter of 2025 at a lower rate.

    The division’s other French subsidiaries saw revenue growth of 0.9% as reported and 1.0% like for like. The division was propelled by a surge in HR business across all client segments and by Health insurance, thanks to robust project-based sales, with new signings and the start of projects won in 2024. On the other hand, business with pharmacists in France was a drag on growth.

    International businesses posted reported revenues down 30.3% owing to the deconsolidation of INPS in the UK from December 10, 2024, following its voluntary placement in administration. Like-for-like revenues fell 3.2%. The decline was again due to the UK: the Pharmacy First program in H1 2024 created a challenging comparison for pharmacy activities and a client of Activus, a UK subsidiary selling software for health and provident insurance for expats, went out of business. Even so, both businesses have clear prospects that will reverse the downward trend in the months ahead. Other international activities had a positive quarter—particularly in Spain—and remain on track.

    Flow First half Change H1 2025 / 2024
    in millions of euros 2025 2024 Reported Like for like(2)
    e-business 32.1 30.0 7.1% 7.0%
    Third-party payer 21.3 19.5 8.8% 8.8%
    Flow 53.4 49.5 7.8% 7.7%

    First-half growth in e-business, e-invoicing, and digitized data exchanges was 7.1% as reported and 7.0% like for like. Both of the division’s two main business lines contributed: “Invoicing & Procurement” (France and UK) and “Healthcare Flows” (notably in pharmaceutical supply chain security for hospitals).

    The Third-party payer business experienced 8.8% growth in H1. It was boosted by strong growth in demand for its fraud and long-term illness detection offerings, a trend that began in the second half of 2024 and continued in H1 2025 with the signing of a fourteenth client.

    • Data & Marketing
    Data & Marketing First half Change H1 2025 / 2024
    in millions of euros 2025 2024 Reported Like for like(1)
    Data 28.7 28.0 2.5% 2.3%
    Marketing 34.7 31.3 10.8% 10.8%
    Data & Marketing 63.4 59.3 6.9% 6.8%

    Data businesses were up 2.5% in the first half on the back of a strong performance in France, which offset a mixed showing abroad.

    The Marketing segment posted robust H1 growth of 10.8% owing to strong sales after new client wins and brisk business with existing clients.

    BPO First half Change H1 2025 / 2024
    in millions of euros 2025 2024 Reported Like for like(1)
    Insurance BPO 31.2 28.7 8.8% 8.8%
    Business Services BPO 12.0 11.2 6.4% 6.4%
    BPO 43.2 39.9 8.1% 8.1%

    The Insurance BPO business grew by 8.8% over the first half, chiefly owing to its overflow business, which has been flourishing because it serves a critical need for clients.

    Business Services BPO (HR and digitalization) reported growth of 6.4% in the first half, again on the back of a popular compliance offering, which is winning new clients.

    • Cloud & Support
    Cloud & Support First half Change H1 2025 / 2024
    in millions of euros 2025 2024 Reported Like for like(1)
    Cloud & Support 18.2 18.1 0.3% 0.3%

    Cloud & Support division revenues grew 0.3% in the first half. The non-renewal of a significant outsourcing contract in the second quarter was a drag on growth and obscured the fact that an expanded range of products backed by Cegedim’s sovereign cloud has been very successful.

    Highlights

    • SBTi validates Cegedim’s decarbonization targets

    The Science Based Targets initiative (SBTi) officially validated Cegedim Group’s greenhouse gas emission reduction targets on June 12, 2025. SBTi is the global standard for measuring companies’ carbon footprints and certifying their stated action plans for reducing emissions in line with the ambitious goals of the Paris Climate Agreement. Cegedim is now part of the select group of about 8,000 companies whose plans have been validated. This major step reflects the strong commitment of Cegedim’s senior management, also mobilizing all subsidiaries, to the sustainable development of the Group’s activities.

    • Switch to Euronext Growth

    At its meeting on June 13, 2025, the Board of Directors decided to move forward with the resolution approved that same day by the general shareholders’ meeting to transfer Cegedim’s shares to the Euronext Growth stock exchange. The Group is currently completing formalities so it can make the switch in early September 2025. The Group discussed the rationale for the move and its impacts in a press release dated June 13, 2025.

    • Conversion of the credit facility into a sustainability-linked loan

    On June 16, 2025, the Group negotiated an addendum with all of the parties to its loan agreement to add performance clauses related to 2030 ESG commitments, making this a sustainability-linked loan. By adhering to the annual Scopes 1 & 2 and Scope 3 decarbonization trajectory validated by SBTi, and by making progress on gender equality in senior management, the Group will be able to lower interest rate by up to 0.05 percentage points for the bank portion and by 0.10 to 0.40 percentage points for the non-bank portion. Conversely, failure to respect those commitments will increase the interest rate by a commensurate amount. The first milestone for applying this arrangement will be the 2025 ESG performance as reported in 2026.

    Significant transactions and events post June 30, 2025

    • Workforce restructuring at the pharmacy business

    The Group has decided to restructure the workforce at its pharmacy management software business in France, which will result in making around 100 positions redundant. By rethinking its organization and reconfiguring to align with market trends and client needs, the company hopes to return to a level of performance that ensures a solid foundation for its employees and allows it to innovate for its clients.
    After the semester close, the Group received approval from France’s regional labor and economics agency, DRIEETS, for the collective agreement it negotiated in the second quarter of 2025 with employee representatives. The Group is now determining what level of provision will be earmarked in the H1 2025 financial statements.

    To the best of the company’s knowledge, apart from the impact of the above items, there were no post-closing events or changes after June 30, 2025, that would materially alter the Group’s financial situation.

    Outlook

    Based on the currently available information, the Group expects 2025 like-for-like revenue(3) growth to be in the range of 2-4% relative to 2024. Recurring operating income should continue to improve, following a similar trajectory as in 2024.

    These targets are not forecasts and may need to be revised if there is a significant worsening of geopolitical, macroeconomic, or currency risks.

    ——————-

    WEBCAST ON JULY 24, 2025, AT 6:15 PM (PARIS TIME)
    The webcast is available at: www.cegedim.fr/webcast
    The H1 2025 revenues presentation is available here:
    https://www.cegedim.fr/documentation/Pages/presentation.aspx

    Financial calendar

    2025 September 25 after the close

    September 26 at 10:00 am

    October 23 after the close

    		 H1 2025 Earnings

    SFAF meeting

    Q3 2025 revenues

    Financial calendar: https://www.cegedim.fr/finance/agenda/Pages/default.aspx

    Disclaimer
    This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. This press release may contain inside information. It was sent to Cegedim’s authorized distributor on July 24, 2025, no earlier than 5:45 pm Paris time.
    The figures cited in this press release include guidance on Cegedim’s future financial performance targets. This forward-looking information is based on the opinions and assumptions of the Group’s senior management at the time this press release is issued and naturally entails risks and uncertainty. For more information on the risks facing Cegedim, please refer to Chapter 7, “Risk management”, section 7.2, “Risk factors and insurance”, and Chapter 3, “Overview of the financial year”, section 3.6, “Outlook”, of the 2024 Universal Registration Document filled with the AMF on April 7, 2025, under number D.24-0233.

    About Cegedim:
    Founded in 1969, Cegedim is an innovative technology and services group in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs nearly
    6,700 people in more than 10 countries and generated revenue of over €654 million in 2024.
    Cegedim SA is listed in Paris (EURONEXT: CGM).
    To learn more please visit: www.cegedim.fr
    And follow Cegedim on X: @CegedimGroup, LinkedIn, and Facebook.

    Aude Balleydier
    Cegedim
    Media Relations
    and Communications Manager

    Tel.: +33 (0)1 49 09 68 81
    aude.balleydier@cegedim.fr

    		 Damien Buffet
    Cegedim
    Head of Financial
    Communication

    Tel.: +33 (0)7 64 63 55 73
    damien.buffet@cegedim.com

    		 Céline Pardo
    Becoming RP Agency
    Media Relations Consultant

    Tel.:        +33 (0)6 52 08 13 66
    cegedim@becoming-group.com

    		  

    ____________________________________________________________________________________________________________________________________________________

    Annexes

    Breakdown of revenue by quarter and division

    in millions of euros   Q1 Q2 Q3 Q4 Total
    Software & Services   72.4 72.0     144.4
    Flow   27.6 25.8     53.4
    Data & Marketing   29.9 33.5     63.4
    BPO   21.1 22.1     43.2
    Cloud & Support   10.3 7.8     18.2
    Consolidated Group revenue   161.3 161.2     322.5
    in millions of euros   Q1 Q2 Q3 Q4 Total
    Software & Services   74.4 77.8 75.6 80.1 307.8
    Flow   25.4 24.2 23.7 27.0 100.3
    Data & Marketing   27.0 32.3 28.2 38.4 125.9
    BPO   20.2 19.7 21.6 21.2 82.7
    Cloud & Support   9.0 9.1 7.7 12.0 37.8
    Consolidated Group revenue   155.9 163.1 156.8 178.7 654.5

    Revenue breakdown by geographic zone, currency, and division at June 30, 2025

    as a % of consolidated revenues   Geographic zone   Currency
      France EMEA
    ex. France    		 Americas   Euro GBP Other
    Software & Services   87.2% 12.7% 0.1%   91.0% 7.0% 2.0%
    Flow   91.7% 8.3% 0.0%   94.2% 5.8% 0.0%
    Data & Marketing   97.7% 2.3% 0.0%   98.2% 0.0% 1.8%
    BPO   100.0% 0.0% 0.0%   100.0% 0.0% 0.0%
    Cloud & Support   97.2% 2.8% 0.0%   97.2% 0.0% 2.8%
    Cegedim   92.3% 7.6% 0.1%   94.5% 4.1% 1.4%

    (1)   At constant scope and exchange rates.

    (2)   The positive currency impact of 0.1% was mainly due to the pound sterling. The negative scope effect of 1.8% was attributable to the deconsolidation of INPS as of December 10, 2024, which the consolidation of Visiodent starting March 1, 2024, only partly offset.
    (2)At constant scope and exchange rates.

    (3)At constant scope and exchange rates.

    Attachment

    • Cegedim_Revenue_1H2025_ENG

    The MIL Network –

    July 25, 2025

  • MIL-OSI Africa: Who Will Bury You? Short stories from Zimbabwe about women who refuse to be easily defined

    Source: The Conversation – Africa – By Gibson Ncube, Senior Lecturer, Stellenbosch University

    Zimbabwe-born, Canada-based Chido Muchemwa’s debut short story collection, Who Will Bury You?, was published late in 2024 and immediately attracted the right kind of attention.

    Here was an unexpected range of themes: queer identity, dislocation in the diaspora, the lingering complexities of family and cultural belonging. The 12 stories, set between Zimbabwe and Canada, trace moments of rupture and reconnection across time and geography. And they’re mostly about women. Women, selfhood, loss and love.

    Gibson Ncube, who researches queer African fiction, unpacks why it’s such a good read.

    What are some of the stories about?

    The recurring questions in Who Will Bury You? are: who will remain when we are gone – who will understand us, who will grieve for us, and who will honour the truths we live by? These questions are animated through emotionally layered stories that centre the lives of Zimbabwean women and queer characters.

    Written with subtlety and care, some of the stories draw on Zimbabwean folklore, allowing Muchemwa to bridge the mythical and the present-day. She demonstrates how ancestral narratives continue to shape how people experience love, loss and belonging.

    House of Anansi Press

    The title story introduces a Zimbabwean “church going woman” and her daughter, who is living in Canada and has embraced a lesbian identity. In Zimbabwe, same-sex relationships remain criminalised under laws inherited from colonial rule and reinforced by state-sponsored homophobia. Political leaders often frame queerness as un-African or morally deviant.

    The story is told through alternating perspectives and offers a portrait of intergenerational estrangement, cultural friction, and love strained by silence. What one of the characters calls “things that might never feel sayable”. The theme of queerness recurs in several other stories like This Will Break My Mother’s Heart and If It Wasn’t for the Nights.

    Muchemwa allows these stories to gather meaning through multiple vantage points. She seems to resist resolution in favour of complexity. The collection is a significant contribution to the small but growing body of Zimbabwean literature that openly addresses queerness.

    What’s Muchemwa saying about queer African life?

    One of Muchemwa’s most powerful acts in the book is to treat queer life not as peripheral, but as central to the cultural, emotional and political worlds her characters inhabit. Queer desire, intimacy and estrangement are not exceptional disruptions. They are ordinary realities that are woven into everyday life. In these stories, queerness is at once a site of tenderness, conflict and hope. The effects of religion and colonial morality continue to shape how love is expressed and denied.

    Read more: 7 queer African works of art: new directions in books, films and fashion

    The stories challenge the erasure of queer voices by positioning them at the heart of families and communities. Queer characters are neither idealised nor victimised. They are allowed to simply be joyful, ambivalent, flawed, and resilient.

    Aside from identity, what are some of the other themes?

    The book also grapples with questions of memory, history and myth. In Finding Mermaids, Muchemwa blends contemporary reportage with folklore. A journalist and her grieving mother investigate the disappearance of young girls in a rural Zimbabwean town who are suspected to have been captured by njuzu, water spirits.

    Other stories, like Kariba Heights and The Captive River, explore the legacies of colonialism and the spiritual power of the Zambezi River. In these stories, Muchemwa is attentive to how land, history and belief have an impact on personal experiences.

    Living away from home, in the diaspora, is also a theme. Zimbabwe’s collapsing economy and ongoing political instability have driven many to seek better lives abroad, looking for jobs or educational opportunities.

    Characters in Toronto grapple with cultural dislocation. They long for home as they tackle the challenges of forging new forms of kinship abroad. The Toronto that Muchemwa renders is richly textured. It’s far from a generic western backdrop. It is portrayed as a space of possibility and tension in which characters remake themselves in the face of displacement.

    Why is it a special book to you as a scholar?

    Muchemwa’s prose is precise, controlled, and emotionally resonant. She writes with confidence, trusting the power of implication and delicate shifts in tone. The plots of the stories are simple. They are not driven by dramatic revelations. Rather, by accumulative emotional insight. Her characters often seem to border on the edge of decision or reconciliation. In fact, their silences are as revealing as their speech.

    Throughout the collection, there’s a sense of hushed intensity. The question of who will be there – at the end, in crisis, in love – lingers and ties the stories together. Even as her characters move between countries, generations and identities, they remain tied by their desire for recognition and care.

    Read more: Books: folklore and fantasy combine in Langabi, a supernatural historical epic from Zimbabwe

    Muchemwa’s debut contributes to a growing body of contemporary African writing that focuses on intimacy, friendship and queerness as legitimate and urgent narrative concerns. Who Will Bury You? offers a fresh take that avoids the clichés and stereotypes often associated with African literature – what Nigerian writer Chimamanda Ngozi Adichie has famously called the single story.

    Rather than dwelling on recurrent tropes of suffering or political crisis, Muchemwa’s stories place a spotlight on private lives and emotional entanglements. They compel us to be attentive to the quiet yet consequential turmoil that takes place within families and intimate relationships.

    The collection does not avoid the cultural and religious violences that have an impact on everyday life. But Muchemwa faces them through the perspective of those who survive, and remake, these constraints on their own terms.

    Who Will Bury You? is a carefully crafted collection that demands close attention. It’s a book about women who refuse to be easily defined. With this collection, Muchemwa asserts herself as a compelling new voice in Zimbabwean and African literature. Her debut represents new African storytelling which continues to expand the narratives of African writers. It dares to centre the personal, the queer, and the emotionally complex.

    – Who Will Bury You? Short stories from Zimbabwe about women who refuse to be easily defined
    – https://theconversation.com/who-will-bury-you-short-stories-from-zimbabwe-about-women-who-refuse-to-be-easily-defined-261291

    MIL OSI Africa –

    July 25, 2025

  • MIL-OSI USA: ICYMI: Gov. Hochul’s Op-Ed in the USA Today Network

    Source: US State of New York

    oday, the USA Today Network published an op-ed by Governor Kathy Hochul outlining her commitment to securing New York’s clean energy future, including her bold new directive to the New York Power Authority to take the next step towards building an advanced nuclear power plant in Upstate New York. From leading the nation in community solar to delivering major offshore wind projects, Governor Hochul lays out her vision for an energy strategy to power the next generation of jobs, technology, and economic growth and explains why advanced nuclear must be part of that future. Text of the op-ed can be viewed online and is available below:

    Affordability starts with energy.

    Whether it’s powering a home, a business, or a factory floor, reliable and reasonably priced electricity makes New York’s high quality of life possible. That’s why I’ve made it a cornerstone of our strategy to grow jobs, attract investment, and give families a reason to stay and build their lives here.

    It’s why I’ve worked to attract transformational economic development projects, like Micron’s $100 billion semiconductor campus outside of Syracuse and our nation-leading effort to create the country’s largest super computer dedicated to responsible AI in Buffalo. These investments bring jobs, opportunity, and long-overdue momentum to upstate communities.

    I grew up in Western New York. I remember when the region thrived — when energy from the Niagara River powered steel plants, car factories, and a middle class strong enough to support entire towns. In 1961, President John F. Kennedy stood at the opening of the Niagara hydropower plant and called it “an example to the world of North American efficiency and determination.”

    But when the economic tides shifted and innovation stalled, upstate cities were left behind. What followed was decades of disinvestment and job loss.

    Now, New York has a chance to reverse that trend — but we need to ensure we have the sufficient power to do it. I believe our state can lead the next energy revolution and, in doing so, bring a new era of prosperity to the regions that once powered America.

    NYPA must embrace advance nuclear power upstate

    That’s why I recently directed the New York Power Authority to take the next step in building an advanced nuclear power plant upstate. It’s a bold move, but one grounded in reality. If we want to power the economy of the future, we need a clean, reliable, around-the-clock source of electricity. Advanced nuclear power can deliver that.

    New York is already a national leader in renewable energy. We’ve topped the charts two years running as the number one community solar market in the country and beat our 2025 distributed solar goal a year ahead of schedule. We built South Fork Wind, the nation’s first utility-scale offshore wind farm, and put two more major projects — Sunrise Wind and Empire Wind — back on track after I raised their importance directly with the White House.

    These aren’t just policy wins. They represent real jobs, clean power, and progress.

    But solar only works when the sun shines, and wind turbines only spin when the weather is right. The industries of tomorrow need a fully dependable electric grid. They need certainty, which means renewables and clean baseload.

    The next chapter of New York’s economy depends on our ability to power it. Without enough clean and affordable energy, we won’t be able to support the jobs, homes and innovations we’re fighting to bring here.

    Imagine this: Microchips manufactured outside Syracuse are shipped to the University at Buffalo, where they power AI research. Those breakthroughs spark new startups in Rochester, create supply chain opportunities in Binghamton, and support robotics labs in Schenectady. That’s the future we want for upstate New York — one where our communities are connected, our workforce is empowered and our economy is firing on all cylinders.

    But that vision doesn’t run on hope. It runs on electricity, and a lot of it.

    That’s why I’ve committed to an all-of-the-above energy strategy. In just the last five years, we’ve built more than two gigawatts of renewable energy, making New York’s electric grid the second cleanest per capita in the country. But we can’t stop there.

    Advanced nuclear power can fuel New York’s future

    Advanced nuclear power offers baseload electricity without burning fossil fuels. One gigawatt can power one million homes. It’s reliable, carbon-free, and scalable. And it’s not untested — New York already has three nuclear plants that have operated safely and efficiently for decades. These next-generation reactors will be even more advanced and secure.

    I understand concerns about cost. Some projects, like the plant in Georgia, came in late and over budget. We are learning from those experiences, applying best practices and ensuring tight oversight. We can show the country that New York still knows how to build with ambition, discipline and results.

    We’re not just imagining the future. We’re constructing it. When we pair New York’s world-class workforce with forward-looking energy investments, we unlock a new era of innovation and inclusive economic growth.

    Energy helped write the story of the Rust Belt’s rise and fall. Now, it can power the comeback. Let’s seize that opportunity — and build the future that every New Yorker deserves.

    Kathy Hochul is Governor of New York.

    MIL OSI USA News –

    July 25, 2025

  • MIL-OSI USA: Chairman Capito Participates in EPW T&I Subcommittee Hearing on Surface Transportation Improvements

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito

    [embedded content]

    To watch Chairman Capito’s questions, click here or the image above.

    WASHINGTON, D.C. – Yesterday, U.S. Senator Shelley Moore Capito (R-W.Va.), Chairman of the Senate Environment and Public Works (EPW) Committee, participated in an EPW Transportation and Infrastructure Subcommittee hearing on proposals to improve America’s transportation infrastructure.

    During the subcommittee hearing, Chairman Capito opened with remarks outlining the need for the Surface Transportation Reauthorization Bill to provide states with needed flexibility, and how projects could be done more efficiently with permitting reform. Additionally, Chairman Capito asked for an update on efforts to rebuild the Francis Scott Key Bridge in Maryland.

    HIGHLIGHTS:

    FLEXIBILITY FOR STATES:

    “My history here on Capitol Hill has been that transportation and infrastructure is something that we all have. We have our different needs, but we all have need for. So, I think flexibility, Senator Lummis, I think, asked the first question I was going to ask of Mr. Orn on the flexibilities that you get by having the formula funding. We’re not going to build highways in West Virginia the same way that you build them in North Dakota, or Maryland, or other places. There’s just different needs.”

    PERMITTING REFORM:

    “I think one of the things that is important as well, is permitting reform. I think if we can get bipartisan permitting reform, all of these dollars will go a lot faster, and a lot more efficiently than they have in the past.”

    UPDATE ON FRANCIS SCOTT KEY BRIDGE:

    Chairman Capito:

    “Could you update me on the status of the reconstruction of the bridge and tell us the current cost estimate for that bridge?”

    Samantha Biddle, Deputy Secretary, Maryland Department of Transportation:

    “Of course, and thank you as well for your support and partnership as we navigated what was truly a catastrophic event that we are still working through. So, we’re so immensely grateful for the federal support. This is a critical national freight and supply chain asset, and we pledge to remain transparent with this committee and providing updates, as well as in our efforts to seek reimbursement to the responsible party for that bridge collision. To date, the Francis Scott Key Bridge rebuild has been environmentally cleared, and we have a progressive design-build contractor in place, and pre-construction and demolition activities are currently underway. We appreciate the strong continued partnership with the Federal Highway Administration, as well as our progressive design-build contractor, Kiewit, and we do remain on track to deliver a new bridge as quickly and cost effectively as possible. However, due to the progressive design-build process that we’re working through, we are currently still tracking the initial cost estimate from earlier on in the bridge rebuild process.”

    Click HERE to watch Chairman Capito’s questions.

    MIL OSI USA News –

    July 25, 2025
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