Author: MIL-OSI Publisher

Source: Equinor

29 OCTOBER 2025 – Equinor delivered an adjusted operating income* of USD 6.21 billion and USD 1.51 billion after tax* in the third quarter of 2025. Equinor reported a net operating income of USD 5.27 billion and a net loss of USD 0.20 billion. Adjusted net income* was USD 0.93 billion, leading to adjusted earnings per share* of USD 0.37.

Strong cashflow and operational performance

• 7% production growth with strong performance from Johan Sverdrup and Johan Castberg
• Robust balance sheet through lower price environment
• Reported results impacted by net impairments, primarily driven by lower price outlook

Strong cost focus

• Stable cost from last year1
• 50% cost reduction in Renewables
• Stopping two early-phase electrification projects

Strategic development

• First oil from the Bacalhau field in Brazil in October
• Successful infrastructure-led exploration on the NCS
• Participating in Ørsted rights issue, positioning for industrial and strategic collaboration

Capital distribution

• Third quarter cash dividend of USD 0.37 per share and fourth tranche of share buy-back of up to USD 1.266 billion
• Total capital distribution for 2025 in line with announced level of around USD 9 billion

Anders Opedal, President and CEO of Equinor ASA:

“We deliver strong operations this quarter. High performing fields and new fields coming on stream on the Norwegian continental shelf, drive production growth.”

“In October, we started production from our largest offshore field internationally, Bacalhau. The field will contribute substantially to grow earnings from our international portfolio towards 2030.”

“We have systematically addressed cost over time. In a period with both production growth and inflation, we maintain stable costs year to date.”

Strong cashflow and operational performance

Equinor delivered a total equity production of 2,130 mboe per day in the third quarter, up 7% from 1,984 mboe per day in the same quarter last year.

Operational performance on the Norwegian continental shelf (NCS) was strong with several fields, in particular the Johan Sverdrup field, delivering strong production and minimal unplanned downtime. Combined with the new Johan Castberg and Halten East fields, the production growth was 9% on the NCS compared to the same quarter last year. New wells and lower impact from turnarounds also contributed positively.

The acquisition of additional interests in US onshore assets in 2024, and increased production from offshore assets, contributed to a 29% increase in oil and gas production from the US segment in the third quarter, compared to the same period last year.

The production from the international upstream segment, excluding the US, is down compared to the same quarter last year due to exits from Nigeria and Azerbaijan in 2024. There was a two-month production halt at the Peregrino field, which is held for sale. The halt was due to audit requirements from the Brazilian authorities, and production resumed in October. Production from new wells internationally contributed positively to the results.

The total power generation was 1.37 TWh. The renewable portfolio contributed with 0.91 TWh, which is a 34% increase compared to last year, primarily driven by the ramp up of Dogger Bank A and new production from onshore renewables.

In the quarter, Equinor completed 18 offshore exploration wells on the NCS with 7 commercial discoveries.

Financial results

Equinor delivered an adjusted operating income* of USD 6.21 billion and USD 1.51 billion after tax* in the third quarter of 2025. The results are affected by lower liquids prices, which were partially offset by higher production and higher gas prices in the US.

The reported net operating income of USD 5.27 billion is down from USD 6.91 billion in the same quarter last year. This is impacted by net impairments of USD 754 million, primarily due to updated forward-looking price assumptions. Assets held for sale in the international portfolio, which hence have not been depreciated, accounted for USD 650 million and USD 385 million is related to non-operated assets offshore in the US. This was partially offset by an impairment reversal of USD 299 million related to an onshore asset in Norway.

Equinor realised a European gas price of USD 11.4 per mmbtu and realised liquids prices were USD 64.9 per bbl in the third quarter.

Equinor expects the Midstream, Marketing and Processing segment to deliver a quarterly average adjusted operating income* of around USD 400 million going forward. This is due to changing market conditions and earlier divestment of certain assets.

Adjusted operating and administrative expenses* are higher compared to the same quarter last year. This is due to the booking of future operating expenses related to a US offshore asset that ceased production in the quarter, as well as higher transportation costs and currency effects. This was partially offset by cost improvements in the renewable segment.

Strong operational performance generated cash flows provided by operating activities, before taxes paid and working capital items, of USD 9.10 billion for the third quarter.

Equinor paid two NCS tax instalments totalling USD 3.9 billion in the quarter. For the fourth quarter, Equinor expects to pay three instalments. This is due to the new phasing of ten instalments annually.

Cash flow from operations after taxes paid* ended at USD 5.33 billion.

Organic capital expenditure* was USD 3.41 billion for the quarter, and total capital expenditures were USD 3.68 billion.

The net debt to capital employed adjusted ratio* was 12.2% at the end of the third quarter, compared to 15.2% at the end of the second quarter of 2025.

Strategic development

Successful near-infrastructure exploration on the NCS, led to seven commercial discoveries in the quarter. One of the discoveries already started production, adding volumes to the Åsgard A in the Norwegian Sea. Combined with production start-up from the Askeladd Vest field in the Barents Sea, this supports Equinor’s long-term role as a safe supplier of energy to Europe.

In October, the Bacalhau field in Brazil came on stream. With recoverable reserves of more than 1 billion barrels of oil equivalents, it is the largest international offshore field ever developed by Equinor.

In the third quarter, Equinor announced participation in the rights issue of Ørsted. This is driven by a positive long-term view for offshore wind and confidence in the underlying business of Ørsted.

In the quarter, Northern Lights received and stored the first CO₂ volumes. With this, the world’s first third party CO₂ transport and storage facility is now operational.

In October, Equinor decided to stop the early phase Snorre and Halten electrification projects. The reason for stopping the two projects was primarily due to high abatement costs. The company will further mature the Grane-Balder early-phase energy project.

Competitive capital distribution

The board of directors has decided a cash dividend of USD 0.37 per share for the third quarter of 2025, in line with communication at the Capital Markets Update in February.

The board of directors has decided to initiate a fourth and final tranche of the share buy-back programme for 2025 of up to USD 1.266 billion. The tranche will commence on 30 October and end no later than 2 February 2026. This fourth tranche will complete the announced share buy-back programme of up to USD 5 billion for 2025. It will also conclude total capital distribution for 2025 of around USD 9 billion.

The third tranche of the share buy-back programme for 2025 was completed on 23 October 2025 with a total value of USD 1.265 billion.

All share buy-back amounts include shares to be redeemed by the Norwegian state.

1) Year-to-date, adjusted operating and administrative expenses* excluding royalties, transportation costs, over/underlift and a few selected one-offs.

*For items marked with an asterisk throughout this report, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures.

Source: Commonwealth Bank of Australia (CBA)

New Memorandum of Understanding to unlock better financial outcomes for First Nations people through home and business lending, and participation in renewables and carbon projects.

29 October 2025 – The Commonwealth Bank of Australia (CBA) and Indigenous Business Australia (IBA) have today announced the signing of a Memorandum of Understanding (MoU), a strategic collaboration to support financial outcomes for Aboriginal and Torres Strait Islander people, businesses, and communities.

Under the MOU, CBA and IBA will work together, aiming to strengthen organisational capabilities, co-develop innovative financial solutions and expand access to finance for First Nations customers.

Focus areas of the MoU include:

• Home ownership: Exploring culturally informed pathways to home ownership for Indigenous people who may face additional barriers when saving and seeking to purchase a home; 
• Business lending: Consideration of innovative funding models and co-funding opportunities to support Indigenous businesses to access capital to start, operate and grow;
• Renewables and carbon projects: Supporting the participation of Indigenous businesses and communities in Australia’s transition to net-zero by co-funding renewables and/or carbon initiatives. 

CBA and IBA will also explore capability-building initiatives such as secondments, mentoring arrangements and tailored training programs.

IBA Chief Executive Officer, David Knights said:

“This collaboration with CBA reflects our shared commitment to creating financial pathways that empower First Nations individuals and communities. By working together, we can open more doors to culturally appropriate finance, building a stronger Indigenous-led economy for generations to come.

“This strategic collaboration with the nation’s biggest home lender supports IBA’s Strategy to 2030, which is about creating more economic opportunities for Indigenous Australians. It’s about walking together to create a more inclusive and prosperous future for all, one that champions entrepreneurship, supports home ownership, and invests in the future of our communities.”

CBA Group Executive, Business Banking, Mike Vacy-Lyle said:

“CBA has a longstanding commitment to reconciliation and to being a trusted financial institution to First Nations peoples.

“This MOU with Indigenous Business Australia reflects our shared ambition to drive economic empowerment. Together we aim to unlock more opportunities and meaningful outcomes for Indigenous Australians.”

Mr Vacy-Lyle said the announcement aligns well with this year’s Indigenous Business Month theme 'Strength through Collaboration' currently being celebrated throughout October.

“Our work with Indigenous Business Australia builds on CBA’s Reconciliation Action Plan with a clear focus on creating meaningful, sustainable change – whether through financial inclusion, career pathways, or supplier diversity.  

“We also recognise the importance of culturally responsive banking experiences and continue to invest in dedicated bankers who understand and respect the diverse needs of First Nations customers.

“We know there is more to do and we remain committed to deepening relationships and expanding opportunities across our network.”

IBA has a 50-year history of supporting the financial empowerment of Aboriginal and Torres Strait Islander people. IBA’s programs and services enable First Nations people to own a home, run a successful business, and invest in their futures.

In FY25, CBA spent more than $62 million with Indigenous-owned businesses.

In July, CBA released its Reconciliation Action Plan (RAP) for 2026-2028. It focuses on strengthening relationships with First Nations communities, providing meaningful career opportunities, supporting First Nations business growth, and improving access to banking products and services. The RAP has received Elevate status from Reconciliation Australia.

And one the 2nd one: L to R: Sean Gordon; Mike Vacy-Lyle; CBA General Manager Business Banking ESG, Sarah Lalor; Darren Godwell; CBA Executive General Manager, Major Client Group, Chris Williams; David Knights

Real stories of impact

Promo Gear accelerates growth

David Hulett, a proud Jagera man from Meanjin, is the Director Promo Gear – a thriving business based in Morningside, Queensland.   Despite 15 years industry experience, obtaining finance to purchase Promo Gear in 2014 was a challenge.

“We had so many doors closed on us, it was an emotional rollercoaster. Our business was built on a lot of goodwill and intellectual property which can be difficult to for the traditional finance industry to quantify,” Mr Hulett recalled. 

“After some time, an Aunty suggested that I contact IBA so I reached out,” he said. 

In 2015, Mr Hulett secured finance with IBA.  Promo Gear flourished over subsequent years, experiencing rapid growth by focusing on culture, character and relationships with both suppliers and end customers. 

“We trade like it has been done for thousands of years – with a focus on the long-term relationship rather than the transaction. We get a lot of referral work and people keep us on as their supplier when they move to a new business,” he said. 

By 2019, the business built up its data and financials and were able to secure lending with CBA to support their next phase of growth. |

“Today, we have amazing clients, excellent warehouse facilities and are growing our team and service offerings through new innovations. As a business that has been supported by both IBA and CBA it’s great to see them coming together like this, each organisation has different strengths and I’m excited to see what they can achieve together,” he said.

David Hulett, Director, Promo Gear

Butterworth Industries builds a brighter future

Butterworth Industries, a Katherine-based civil construction company owned by Quandamooka woman, Madelyn Farrington, and Ryan Butterworth received support from IBA through a loan for an essential watercart, and by linking them with a business consultant, who provided professional operational advice.

“This support has been really important to us, following our business plan to reduce costs and improve operations and further support our staff to grow. I hope to further grow and shape our business venture in avenues that are exciting and bring further learning and capabilities to our workforce,” said Ms Farrington.

“I hope to support locals within our community to join us in strengthening what our business can provide for future generations. We are the small people in the big game.”

Notes

The Indigenous business sector is rapidly growing in Australia, with around 14,000 businesses in 2022 generating $16 billion in revenue. Deloitte Access Economics forecasts this could reach $50 billion by 2035, outpacing the non-Indigenous sector.

About IBA

Economic independence for Aboriginal and Torres Strait Islander people is at the heart of what we do. Our programs support Indigenous Australians to buy their own homes, be successful in business, and invest in commercial ventures that provide strong financial returns. IBA was established under the Aboriginal and Torres Strait Islander Act 2005 (ATSI Act) and is a corporate Commonwealth entity for the purposes of the Public Governance, Performance and Accountability Act 2013 (PGPA Act). IBA resides in the portfolio of the Prime Minister and Cabinet and is accountable to the Australian Parliament through the Minister for Indigenous Australians, Senator the Hon Malarndirri McCarthy.  

About the Commonwealth Bank

The Commonwealth Bank (ASX:CBA) is one of Australia’s leading providers of personal banking, business and institutional banking and share broking services. With more than 16 million customers and a history spanning more than a century, the Group’s purpose is to build a brighter future for all. The Commonwealth Bank is Australia’s leader in digital banking and maintains the largest branch network across the country. Headquartered in Sydney, Australia, the Bank operates brands including Bankwest in Australia and ASB in New Zealand. For more information on Commonwealth Bank, visit www.commbank.com.au.

Source: Government of the Solomon Islands

The Small Malaita Constituency Road Project is progressing well with the completion of the Paeni to Waloa’a segment.

Constituency Development Officer (CDO) Terry Brown Honimae reports that almost 50 percent of the civil work has been completed.

He stated that despite some challenges faced by the construction team on the ground, work is progressing steadily.  

“Challenges that slowed down our operations include bad weather, machinery breakdowns, social events such as funerals, and other cultural and church obligations. Despite these challenges, the team managed to complete the road segment from Paeni to Waloa’a,” CDO Honimae said.  

Mr. Honimae added that their construction team is expected to start on the final segment from Waloa’a to Roone once all formalities are completed next week.  

On behalf of the Honourable Rick Nelson Houenipwela, CDO Honimae expressed gratitude to the landowners for their generosity and cooperation in allowing the use of their land and resources for the road infrastructure project, which will greatly benefit the entire constituency.  

He also acknowledged the valuable contributions from the Ministry of Rural Development (MRD) under the CDF program, reflecting the government’s commitment to the infrastructure development of rural constituencies.  

The constituency office officially launched Phase II of its Road Infrastructure Program on July 9th, 2025, at Ou’oumatawa, Small Malaita.

This milestone was made possible through the active involvement of the Member of Parliament for SMC, Honourable Houenipwela.  

CDO Honimae earlier explained that the original Phase 2 road project, which aimed to connect Rorongo to Tawaro in Asimeuri Ward was not completed due to land issues. This forced the constituency office to re-focus on a new road segment from Mwenio’a to Ro’one, marking a significant effort to develop infrastructure in Asimeuri Ward.  

The primary goal of SMC’s development plan is to improve the socio-economic wellbeing of rural communities by providing access to government services and creating an enabling environment for economic opportunities.  

Communities that are already connected to the road network include Ou’oumatawa, Tapa’atewa, Ruru’uhe, and Rorongo, which now have direct access to Matangasi Port. This is a major achievement for the constituency office under the leadership of Honourable Hou, as villagers can now travel and transport goods by motor vehicle from the seaport to their homes and vice versa.  

The road project was constructed by a team directly employed by the Constituency Development Office, in accordance with Section 17 of the CDF Act 2023.  

The SMC Road Infrastructure Project dates back to 2012, beginning with land consultations, public awareness campaigns, and mobilization of project teams. Technical work, including surveys, scoping, design, costing, and procurement of machinery, started from 2015 to 2016, with actual construction beginning in mid-2017. To date, the constituency has invested over SBD$20 million in the project, including works and machinery.  

CDF is a national program of the Solomon Islands Government (SIG), administered by MRD and implemented across 50 constituencies to improve the social and economic livelihoods of all Solomon Islanders.  

The Ministry of Rural Development’s vision is to empower all Solomon Islanders for self-sufficiency, improved livelihoods, and sustainable development.

Source: Government of the Solomon Islands

The Lau-Mbaelelea Constituency (LBC) office, under the esteemed leadership of Honourable Ben Maenu’u, continues to touch and make a positive impact on the lives of its constituents through CDF-supported initiatives.

Most recently, the office delivered 100 fiberglass paddle canoes to fishermen in the constituency.

The constituency office funded this project under the productive sector with $700,000 from its 2024 CDF budget allocation of $3.88 million.

Not only does the LBC office, support home-based constituents, but it also extends assistance to families residing in Honiara who are involved in fishing activities through similar projects aimed at improving their livelihoods.

Constituency Development Officer (CDO) Moses Lugitau, on behalf of Hon. Maenu’u and the constituency office, explained that the canoes were provided according to the needs and requests of the people.  

“These canoes will serve as an important lifeline for many of our coastal families and communities who depend entirely on fishing or the sea for their daily income and survival.

“Under Hon. Maenu’u’s leadership, he has embraced every constituent of Lau-Mbaelelea equally. It is his firm commitment to addressing the basic and immediate needs of his people and to continuing support for community initiatives that benefit everyone.”  

This initiative aims to empower fishermen, enabling them to generate income and support their livelihoods.

Beneficiaries of the fishing project, including LBC Honiara-based recipients, expressed profound gratitude to Hon. Maenu’u, the constituency office, and the national government through the Ministry of Rural Development (MRD) for this generous support.

They said that such support is not only timely but will also go a long way in sustaining lives and bringing maximum benefits to the recipients, especially through fish marketing.  

“This is the first time we have received such support from LBC,” Peter Hare, who spoke on behalf of the LBC Honiara recipients, said.

The LBC Honiara recipients are mostly fishermen at the popular Maromaro Market and roadside fish stalls along the East Honiara Highway, who venture out daily to provide for their families and also contribute to Honiara’s food security.  

“These canoes will enable us to generate sustainable income, particularly at a time when the cost of living remains high in the city,” Mr. Hare stated

Chief Samson Nokea of Goulu community also shared similar sentiments.

He said, “Hon. Ben, you have wiped tears from our eyes. You have answered our cries. First, you gave us water and again canoes, a means to get food from the sea and mainland. These canoes are our legs, enabling us and our children to get food from the ocean or our mainland gardens,” Chief Nokea emotionally shared his community’s appreciation to the constituency office, Hon. Maenu’u, and the national government.  

“These canoes are not merely materials but vital tools that will enhance our wellbeing and contribute to improved income and food security for our families. Indeed, they will serve to strengthen our livelihoods as regular sea-goers.

“Thank you, Hon. Ben, for the support and for uplifting our livelihoods,” expressed one recipient from Suava community.  

Communities and wards receiving canoes under the fishery initiative are Suava, Ma’anabu, Tara’ana, Ward 10, LBC Honiara-based residents from Burnscreek, and Foueda. For the Foueda community, their canoes will be shipped via the first available transport in due course.

These modern manufactured canoes replace fragile traditional dugouts, offering lighter weight, durability, smoother sailing and safer trips for fishermen.

In Solomon Islands, where fishing sustains over 50 percent of coastal communities livelihooods, these canoes boost income and food security for the people of Lau-Mbaelelea Constituency.  

CDF is a national program of the Solomon Islands Government (SIG), administered by MRD, and implemented through the 50 constituencies in the country, purposefully to improve the social and economic livelihoods of all Solomon Islanders.

The Ministry of Rural Development’s vision is to ensure all Solomon Islanders are empowered for self-sufficiency, improved livelihoods, and sustainable development.

Source: Physicians for Human Rights (PHR)

PHR’s medical partners in DRC report recent surges of violence, displacement, malnutrition, infectious disease, and sexual violence

October 28, 2025 – As leaders from Africa’s Great Lakes region and around the world meet in Paris this week to address the conflict in eastern Democratic Republic of the Congo (DRC), Physicians for Human Rights (PHR) warns of an escalating humanitarian and health crisis, including immense violence, mass displacement, infectious disease, and acute malnutrition.  

Conflict related sexual violence is also surging in the region, with more than 11,000 new cases of sexual violence since February 2025 reported by PHR’s partners in DRC – a 31 percent increase since the same time last year. These figures likely represent only a fraction of the full scale of violations.

Ongoing negotiations toward a cessation of hostilities between the governments of DRC, Rwanda, the M23 militia, and other international actors, has failed to stem the brutal violence that continues to devastate communities across North Kivu, Ituri, and South Kivu. Widespread insecurity and restricted humanitarian access, compounded by recent cuts to U.S. foreign aid, have further deteriorated conditions on the ground. More than seven million people in eastern DRC are now internally displaced, the highest figure in the country’s recent history, while malnutrition and infectious disease rates are surging.

“Despite claims by President Trump claims that he has brought peace to DRC, the war continues and millions of civilians are suffering,” said Karen Naimer, JD, LLM, director of programs at PHR. “This week’s diplomatic negotiations in Paris offer potential paths toward de-escalation, but millions of civilians need immediate humanitarian assistance. International and regional actors must make concrete commitments in Paris to address these crises.”  

Prolonged instability has disrupted vital supply chains and weakened health and surveillance systems on the ground in DRC. The continued closure of the airport in Goma, a major transportation hub that services much of the region, is further exacerbating access to life-saving supplies and medicines. PHR’s medical partners in eastern DRC have shared that the lack of safe corridors for humanitarian support and deterioration of infrastructure has resulted in shortages of medical supplies, medicines, and vaccines.  

PHR’s research has shown that recent cuts in U.S. global health and humanitarian funding and other reduced donor support have further constrained operations for many life-saving programs. This reduced funding and capacity is leading to interruptions to HIV, tuberculosis, and reproductive health programs, reversing years of progress. DRC clinicians have also reported the unchecked spread of cholera, mpox, and measles exacerbated by interruptions in medicine supply chains.  

A local physician in the city of Butembo, North Kivu, told PHR that the current lack of access to antiretrovirals and condoms is likely contributing to the increase in local HIV cases, as they have seen more than 663 cases of new infections in 2025, compared to 200-300 seen in previous years. The combined impact of violence, insecurity, lack of humanitarian access, and funding shortfalls threatens to collapse already fragile health systems in conflict-affected provinces.  

The crisis has also driven widespread food insecurity and acute malnutrition, notably in North Kivu and South Kivu. In South Kivu alone, over 4 million people are food insecure. A local physician in Butembo, North Kivu told PHR that insecurity in rural agricultural areas is leading to high rates of malnutrition. Further impacts on nutrition in DRC are expected as the World Food Program, has been forced to reduce its assistance this month to 600,000 people, down from a planned 2.3 million, due to severe funding concerns. The WFP has warned that a complete pipeline break in assistance is possible by February 2026. Without consistent humanitarian access and funding, the risk of famine-like conditions will increase dramatically, further undermining maternal and child health outcomes.  

Conflict-related sexual violence, which is prohibited under international law and fully applies to state and non-state actors, remains one of the gravest protection crises in the DRC as the absence of effective accountability mechanisms aggravates cycles of violence. Women and girls continue to be disproportionately affected (94 percent of reported cases, according to a PHR partner on the ground) and subjected to sexual violence by armed actors, often with limited access to medical or psychosocial support. The UN Joint Human Rights Office (JHRO) reports a 152 percent increase in sexual violence since the capture of Goma and Bukavu in early 2025.  

Sexual violence survivors face significant barriers to care, stigma, and limited access to justice, while local health facilities remain overstretched and under-resourced. Less than half of survivors who come forward for care are able to receive post-exposure treatment within the recommended 72-hour period, one humanitarian organization operating in eastern DRC informed PHR. One physician told PHR that survivors are afraid to go to hospitals which are usually in large cities, for fear of reprisals from combatants from opposing forces.  While PHR’s partners are reporting thousands of survivors seeking care after incidents of sexual violence, these figures likely represent only a fraction of the full scale of such violations.

”This ‘polycrisis’ of immense violence, mass displacement, surging infectious disease, and acute malnutrition means the international community must act urgently to avert a deepening humanitarian catastrophe and to facilitate a sustainable cessation of hostilities in DRC,” said Naimer.

PHR calls on the international community to stabilize funding and open safe humanitarian corridors to ensure continuity of life-saving medical services, supplies, and food, along with the following recommendations:  

Establish and maintain secure humanitarian corridors in conflict-affected areas to enable the delivery of life-saving medical supplies, food, and humanitarian assistance and protection services to civilians.

Ensure clinicians are protected and sufficiently resourced to provide critical medical care and treatment, and to manage and prevent the spread of infectious diseases.

Ensure access to free survivor-centered post-rape care medical, psychosocial, and legal services.

Urge national authorities and armed groups to reduce impacts on civilians and uphold international humanitarian law.

Ensure that any cessation of hostilities includes a mechanism to pursue accountability, justice, and redress for atrocities committed by all sides of the conflict.

Physicians for Human Rights (PHR) is a New York-based advocacy organization that uses science and medicine to prevent mass atrocities and severe human rights violations.

Source: GlobalData

Amidst escalating tensions in the Indo-Pacific, shifting geopolitical fault lines and growing strategic competition, Australia is accelerating efforts to modernize its military. Against this backdrop, Australia’s defense budget is set to increase at a compound annual growth rate (CAGR) of 5.9% from $44.6 billion in 2026 to $56.2 billion in 2030, driven in large part by the transformative trilateral security alliance named AUKUS, between Australia, the UK and the US, forecasts GlobalData, a leading data and analytics company.

GlobalData’s latest report, “Australia Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2025–30,” highlights the country’s defense acquisition and R&D budget cumulatively grew from $10.2 billion in 2021 to $11.4 billion in 2025, underscoring investment in advanced capabilities.

Operations and maintenance is expected to increase from $14 billion in 2026 to $17.4 billion in 2030 (5.6% CAGR), reflecting the growing demand in sustainment, infrastructure and equipment maintenance over the forecast period.

Akash Pratim Debbarma, Aerospace & Defense Analyst at GlobalData, comments: “AUKUS is a defining driver of Australia’s defense trajectory. The partnership not only enables the acquisition of nuclear-powered attack submarines (SSN) but also catalyzes broader modernization across maritime, air and land domains. The SSN program, built in close cooperation with the UK and US under AUKUS, will require significant new infrastructure and sustainment investment.

Government allocations for SSN program are set to increase from $2.4 billion in 2025 to $5 billion in 2030, reflecting the intensive support requirements of the future SSN fleet. These programs, from SSNs and the Hunter-class frigates to F-35 sustainment, MQ-4C Triton UAVs and next-generation land vehicles, are reshaping Australia’s force posture and industrial base.

Debbarma adds: “Rising US–China rivalry and China’s military assertiveness are contributing to a complex security landscape in the Indo-Pacific. Australia’s reliance on alliances like AUKUS, combined trade dependencies with China and climate-related domestic vulnerabilities, are shaping its defense priorities and risk assessments.”

The recent altercations with China at sea and in the air have highlighted the growing tensions and have amplified calls within Australian polity for enhanced maritime surveillance, patrol and deterrent capabilities. At the same time, supply-chain resilience is receiving attention: both Australia and partners are pursuing expanded processing capacity for strategic minerals and defense-related supply chains outside China, requiring substantial investment and active government participation.

Debbarma concludes: “Australia’s 2023 Defence Strategic Review and procurement pipeline demonstrate a clear commitment to sustained capability uplift and industrial participation. By investing across maritime, air and land domains and deepening interoperability with allies, Australia aims to strengthen deterrence, ensure regional stability and safeguard national interests in an increasingly contested Indo-Pacific.”

Notes

• Quotes provided by Akash Pratim Debbarma, Aerospace & Defense Analyst at GlobalData
• Information is based on GlobalData’s latest report, “Australia Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2025–30,” which offers the detailed analysis of the Australia defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.
• This report also covers Regulation, Security environment, Import and Export dynamics and Competitive Landscape.

About GlobalData

4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

Source: GlobalData

The card payment market in Singapore is expected to grow at a healthy compound annual growth rate (CAGR) of 7.2% between 2025 and 2029 to reach SGD209.2 billion ($156.6 billion) in 2029f. The growth will be driven primarily by credit and charge cards, supported by an almost fully banked population, robust payment acceptance infrastructure, and initiatives by financial authorities to promote cashless payments, reveals GlobalData, a leading data and analytics company.

GlobalData’s Payment Card Analytics reveals that payment cards value in Singapore registered a strong CAGR of 11.3% between 2021 and 2025e, reaching SGD158.2 billion ($118.4 billion) in 2025. On the other hand, total ATM cash withdrawals registered a low CAGR of 2.3% during the same period, due to the reduced usage of cards for withdrawals.

Kartik Challa, Senior Banking and Payments Analyst at GlobalData, comments: “Singapore’s payment card market is well developed, with the average individual holding nearly four cards and card payment frequency reaching 107.1 transactions per person in 2025e—among the highest in the Asia-Pacific region. Widespread adoption of contactless payments, a growing preference for electronic payments, and a burgeoning e‑commerce market are all contributing to this growth.”

While debit card penetration is high in Singapore, credit cards dominate the payment card market. This trend can be attributed to several key factors like promotional strategies, enticing benefits like cashback, rewards, and discounts that directly incentivize consumer spending. Furthermore, credit cards provide the convenience of interest-free installment plans, which allows consumers to finance high-value purchases.

Furthermore, the rise of e-commerce has also played a significant role, with credit cards being the preferred payment method for online shopping due to their widespread acceptance and the security features they provide.

A well-developed payment infrastructure, with strong POS terminal uptake, is also a major driver for the rise in card payments. The number of POS terminals per million inhabitants in Singapore stands at 62,551 in 2025e, which is higher compared to some of its peers such as New Zealand (43,768), Australia (40,055), China (36,578), Hong Kong (China SAR) (27,992), and Japan (21,966).

In addition to the traditional POS terminals, companies are offering POS solutions designed to target SMEs. For instance, Singapore-based payment solutions provider FOMO Pay collaborated with Mastercard to unveil a new payment solution called FOMO SoftPOS in November 2024. This solution enables merchants to process contactless card payments directly via smartphones.

The growing popularity of contactless payments is also driving overall card usage at point of sale. Supported by most banks and financial institutions, contactless payments have become prevalent and are widely accepted by retailers and across public transport networks.

To broaden the applications of contactless card payments, from May 2025 commuters were made to use American Express contactless cards to pay for bus and train rides, as well as retail purchases, with no additional fees. Cards can be added to mobile wallets without pre‑registration.

Challa concludes: “Singapore’s payment card market is poised for sustained growth over the next five years, supported by increasing consumer awareness of digital payments and advancements in payment infrastructure. The rise in e-commerce and contactless payments will also contribute to this growth.”

Notes

• Quotes provided by Kartik Challa, Senior Banking and Payments Analyst at GlobalData
• Information is based on GlobalData’s Payment Card Analytics

About GlobalData

4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

Source: Commonwealth Bank of Australia (CBA)

27 October 2025 – Queensland climbs to second as South Australia, Northern Territory show strongest momentum.

Source: International News Media Association (INMA)

SAN FRANCISCO (24 October 2025) – California Governor Gavin Newsom today exhorted news media to “put a bright light” on the current “abnormal” U.S. political and civic conditions, encouraging delegates to the INMA Media Tech & AI Conference in San Francisco to “meet this moment” and hold political leaders to account.

In an unscheduled appearance on stage at INMA’s San Francisco conference, Newsom decried conditions created by President Donald Trump that are marked by city militarisation, intimidation of diverse communities, and pressure on independent institutions.

Newsom, 58, is a Democrat and is considered to be the top prospect for his party’s presidential nomination in 2028. He has served as California governor since 2019.

While Newsom trained his assertions on the Trump Administration, he also alleged widespread complicity spanning law firms, universities, business leaders, and media figures. Regarding American democracy, he lamented: “I don’t think we will have one in a year or two if we do not reconcile our own complicity in this moment. Society becomes how we behave.”

He encouraged public vigilance and collective action across political affiliations to defend enduring national values.

“We have to meet this moment,” Newsom told INMA delegates. “I’m counting on you …”

With the United States approaching its 250th anniversary next year, Newsom assailed the threats against the Constitution: talks of a Trump third term, redistricting, immigration raids, sending the National Guard into cities, and the “greatest grift that’s ever happened in American history. ”

“So I’m grateful, thank you, that you’re all here because we need you,” Newsom said. “I don’t care where you are on the political spectrum. We need you. We the people.”

Newsom circled back on this theme: “We (are) counting on you. Hold us to account. And I think all of us need to raise our game at this precious moment.”

Bending into the theme of INMA’s Media Tech & AI Conference, he encouraged media companies to lean into influencers and streamers, communities that don’t get news from traditional sources.

Referencing the TwitchCon event in San Diego last week, Newsom engaged influencers about where they got their news. “These guys are wildly successful and influential. Not one person has ever checked cable, reading newspapers … a little alarming.” Instead, they engage with TikTok and all things peer-to-peer.

Citing his own social media memes mocking the Trump Administration, Newsom said he’s just now waking up to the creative possibilities: “I’m trying to put a bright light on Trump’s absurdity. Again, nothing’s normal about what’s going on.” A “little bit of humor” makes a powerful point, Newsom said.

More than 180 delegates from 26 countries attended INMA’s Media Tech & AI Week in San Francisco, featuring a conference and study tour.

Newsom was visiting the studios of public broadcaster KQED when INMA organisers approached him about doing a walk-on for conference delegates. INMA stopped sessions late Friday morning in the midst of a session about agentic AI to provide Newsom a five-minute forum for delegates. Conference delegates heartily applauded Newsom’s appearance.

About INMA

The International News Media Association (INMA) is the world’s premier community of news media companies committed to growing revenue, audience, and brand in a multiplatform environment. INMA connects more than 24,000 professionals at 1,000+ organizations across 105 countries through events, reports, Webinars, and a vast archive of best practices.

Source: Equinor

24 OCTOBER 2025 – Equinor has awarded new contracts for crew transportation services from Bergen to CHC Helikopter Service AS and Lufttransport RW AS.

The two companies will operate a total of five helicopters serving installations such as Troll, Gullfaks, Oseberg, Martin Linge, Statfjord, Kvitebjørn, and Valemon.

The contracts have an estimated total value of NOK 4.3 billion, including options, and will take effect in early May 2026. The fixed term runs until December 31, 2028, with the possibility of extension until the end of 2030.

”The safety of everyone traveling to and from offshore work is always our highest priority. CHC and Lufttransport are experienced operators we already work with, and they know the crew transportation service and safety requirements on the Norwegian continental shelf. With these contracts, Equinor’s helicopter base in Bergen will have a safe and robust solution,” says Ørjan Kvelvane, head of Operations Support at Equinor.

Ørjan Kvelvane, head of Operations Support at Equinor
Photo: Arne Reidar Mortensen / Equinor

CHC will operate three Sikorsky S-92 helicopters. Two of these are already under contract with Equinor and will be relocated from Sola to Bergen. The relocation is made possible by the introduction of AW189 helicopters at Sola. In addition, CHC will add one more S-92 helicopter — also currently flying on the Norwegian continental shelf — to the Bergen base.

Lufttransport will operate two AW139 helicopters. These will later be replaced by two AW189 helicopters, scheduled for factory delivery in 2027. Lufttransport is approved by the Civil Aviation Authority Norway to operate both helicopter types and has experience flying AW139 for Equinor as a passenger transport helicopter to Troll from Bergen in 2024.

”Together with the operators, we are now carrying out thorough preparations for a safe and efficient start-up. We have been in dialogue for some time, and they have been able to start early with planning and secure phasing-in. Both operators have already made good progress in hiring pilots and technicians with relevant experience. Training programs are approved by the Civil Aviation Authority Norway, and they have conducted flights to several installations, including with AW139. Work on training and phasing-in will continue going forward,” Kvelvane adds.

Equinor will conduct a series of verifications before the contracts commence. This includes checks of resources, facilities, approvals, manuals, personnel, helicopter equipment, HSE work, IT security, and physical security. These are standard procedures before the start of all Equinor’s helicopter contracts.

About Equinor’s helicopter traffic

Equinor and its operators transport approximately 320,000 passengers annually to and from installations on the Norwegian continental shelf.
This corresponds to more than 24,000 flight hours per year.
In 2024, Equinor carried out a total of 10,934 passenger flights from Stavanger, Bergen, Florø, Kristiansund, Brønnøysund, and Hammerfest.
The Bergen helicopter base at Flesland handles the highest traffic, with nearly 5,000 flights in 2024.
Since the Turøy accident in 2016, the Sikorsky S-92 has been the primary helicopter type in service for offshore passenger transport on the Norwegian shelf.