Author: MIL-OSI Publisher

BOISE, Idaho, NEW YORK, CHICAGO, LONDON, and HONG KONG, July 2, 2026 — Clearwater Analytics (NYSE: CWAN) today released Credit Where It’s Due: The Persistent Rise of Private Credit, its first comprehensive study of how private credit has reshaped institutional portfolios.

(ref. https://cwan.com/Research-Desk/?utm_medium=third_party&utm_source=partner-bw&utm_campaign=PR-2026-06-24-GEN-GLO-Private_Credit_Report )

The report draws on holdings and transactions data from the Clearwater platform, which spans $10 trillion in institutional assets across 60 asset classes. It documents private credit exposure, examines how the asset class has contributed to returns, and identifies where investment risks concentrate. The findings challenged a narrative centered on systemic contagion. Instead it found the systemic risks were idiosyncratic, concentrated on specific balance sheets that are largely hidden from investors without the right infrastructure.

“At Clearwater, we are no strangers to the rise of private credit. Assets on our platform have grown nearly 20% over the last two years alone,” said Kirat Singh, President of Risk and Alternative Assets at Clearwater Analytics. “This report was born from what we see every day in our data, and it aims to bring a grounded, differentiated perspective to a conversation that is too often driven by headlines rather than evidence.”

Benchmarking private credit has proven difficult. The asset class lacks the standardized reporting infrastructure of public markets, and long-term trend data on institutional allocations have been hard to come by. Clearwater’s platform reconciles holdings daily at the security level across a broad institutional base, making it possible to document how private credit is allocated across insurers, corporate treasurers, and private wealth investors, what it has contributed to returns at a subclass level, and where exposures concentrate.

The data shows how much ground private credit has gained. Median insurer allocations have grown 110% since 2021, reaching 9% of total portfolio assets. Corporate treasurers, who held little private credit a few years ago, have climbed to a median allocation of 2%. Liability structure, regulatory treatment, and access to origination all shape the allocation.

Private credit lacks the contagion mechanisms that made 2008 systemic, without the interconnected leverage and structured exposure that caused cascading failures. Instead, the risks are idiosyncratic, concentrated on individual balance sheets, often across multiple managers, vintage years, and fund vehicles, and largely invisible without the right infrastructure. The report coins a term for this pattern: cross-contamination risk.

Tracking those exposures requires infrastructure that most investors have had to piece together from multiple systems. Technology is closing that gap, providing the look-through visibility and daily reconciliation needed to make idiosyncratic risk manageable rather than invisible.

“Private credit has earned its place in institutional portfolios, and the performance data bears that out,” said Matthew Vegari, Head of Research at Clearwater Analytics. “What the market is still catching up to is the operational and analytical infrastructure needed to manage it. Investors who can see how their exposures interact across a full balance sheet will be better positioned to act on that information, and to manage risk as a source of competitive advantage rather than uncertainty.”

The full report, Credit Where It’s Due: The Persistent Rise of Private Credit, is available at cwan.com/Research-Desk.

About Clearwater Analytics

Clearwater Analytics is transforming investment management with the industry’s most comprehensive cloud-native platform for institutional investors across global public and private markets. While legacy systems create risk, inefficiency, and data fragmentation, Clearwater’s single-instance, multi-tenant architecture delivers real-time data and AI-driven insights throughout the investment lifecycle. The platform eliminates information silos by integrating portfolio management, trading, investment accounting, reconciliation, regulatory reporting, performance, compliance, and risk analytics in one unified system. Serving leading insurers, asset managers, hedge funds, banks, corporations, and governments, Clearwater supports over $10 trillion in assets globally. Learn more at www.cwan.com.

1 July 2026 – Equinor has entered into a letter of intent with Transocean for the use of three Cat D rigs on the Norwegian continental shelf. The agreement is worth around USD 1 billion and will contribute to reducing well costs, accelerating the delivery of new wells and maintaining high production towards 2035.

The contract value includes mobilisation and is calculated based on a day rate below USD 400,000 over seven rig years. The agreement applies to the Cat D rigs Transocean Enabler (three years), Transocean Encourage (two years) and Transocean Endurance (two years). Integrated drilling services are optional and not included in the rate. The work scope for the rigs has not yet been allocated.

“We are pleased to have secured rig capacity on competitive terms to deliver on our production plans towards 2035. These are flexible rigs that can, among other things, be used to drill subsea projects and increased recovery wells. This is essential to maintaining high production from the Norwegian continental shelf and stable energy deliveries to Europe,” says Jannicke Nilsson, chief procurement officer in Equinor.

Globally, the ambition is to deliver more than 125 wells annually, around 65 subsea projects and approximately 200 well plugging operations towards 2035.

“Our ambition for the Norwegian continental shelf is production of 1.3 million barrels of oil equivalent per day in 2035. Around 70 per cent of that production will come from new wells. We have now secured three strong workhorses that we know well. The rigs will strengthen our ability to deliver more wells faster and more cost-effectively, while maintaining a high safety level,” says Rune Nedregaard, senior vice president for Wells.

The Cat D rigs are semi-submersible floating rigs, adapted to Norwegian winter conditions and originally built on order from Equinor. They have operated on the Norwegian continental shelf since they were completed at the yard in 2015 and 2016. Transocean Endurance has operated in Australia since 2023 and is now being brought back to Norway, increasing rig capacity on the Norwegian continental shelf.

CEO Jan Wendenburg advocates a fresh approach to AI in product cybersecurity

Düsseldorf, June 30, 2026 – The current discussion around artificial intelligence (AI) in cybersecurity is largely focused on its powerful new analytical capabilities. Modern AI models can analyze source code, identify security vulnerabilities, and uncover potential attack paths.

Düsseldorf-based product cybersecurity specialist ONEKEY welcomes these advances but believes the conversation should go further. “The industry is currently placing a strong emphasis on vulnerability discovery. In practice, however, the biggest challenges begin after vulnerabilities have been identified,” said Jan Wendenburg, CEO of ONEKEY.

Jan Wendenburg continued, “Anyone who develops connected devices, machines, or systems must make sound decisions based on a wealth of technical information. This is precisely where AI will deliver the greatest economic benefits in the future.”

The security company therefore does not see the next stage of cybersecurity development as being based on ever-increasing amounts of analysis, but rather on smarter decisions. ONEKEY refers to this approach as “Decision Intelligence” for product security.

From the Age of Analysis to the Age of Decision-Making

In recent years, cybersecurity has focused on identifying risks. With the advent of advanced AI systems, this process is becoming more automated. Consequently, companies are receiving more indications of potential security issues.

According to ONEKEY, this creates a new challenge. The volume of available information is growing faster than many manufacturers' human resources can handle. Security teams must evaluate thousands of pieces of information, correlate them, and derive concrete measures.

“More information does not automatically mean more security,” said Jan Wendenburg. “Those who cannot prioritize findings amid a flood of data do not gain control but rather face additional complexity, which generally means less security.”

Security Requires Context

With connected products in particular, knowing that a vulnerability exists is not enough to determine its significance. Whether a risk is relevant depends on several factors, including the firmware and software components used, existing protection mechanisms, the area of application, and regulatory requirements.

From ONEKEY's perspective, therefore, contextual knowledge is a decisive factor for success. The platform analyzes firmware directly at the binary level and links technical insights with product knowledge, compliance requirements, and lifecycle information. All of these can be customized to individual risks via profiles. The result is a comprehensive overview that goes far beyond traditional vulnerability lists.

The Digital Security Assistant

Consequently, ONEKEY continues to expand the use of artificial intelligence within its platform. The goal is to support security managers throughout the entire decision-making process, not merely to automate analyses.

In the future, ONEKEY VerityAI, an intelligent assistant, will present complex relationships in an understandable way, explain technical issues in natural language, and generate actionable recommendations tailored to different target groups.

“We're transitioning from basic analysis tools to a digital security assistant,” said Jan Wendenburg. “The system helps experts speed up their work and make more informed decisions.”

New Regulatory Requirements

Meanwhile, new legal requirements are placing greater demands on manufacturers. The Cyber Resilience Act, in particular, requires traceable security processes, documented assessments, and substantial evidence.

According to ONEKEY's assessment, transparently justifying and documenting decisions in an audit-proof manner will become a key competitive factor.

“Security will no longer be measured solely by how many vulnerabilities were detected,” said Jan Wendenburg. He explained: “What will be decisive is whether companies can provide transparent evidence of why they made the decisions they did.”

AI as a Guidepost, Not as an Autopilot

Therefore, ONEKEY sees the future of product safety as being based on close collaboration between human expertise, technical evidence, and intelligent software. Artificial intelligence is intended to help safety managers arrive at the right answers more quickly without assuming sole responsibility for decisions.

“The most successful companies will not be those that blindly trust AI,” Jan Wendenburg summarized, “but those that use AI to make better, faster, and more informed decisions.”

With ONEKEY VerityAI, an AI-powered assistant, intelligent workflows, and advanced analytics, ONEKEY is working toward the next stage of product safety.

ONEKEY is the leading European specialist in Product Cybersecurity & Compliance Management and part of the investment portfolio of PricewaterhouseCoopers Germany (PwC). The unique combination of the automated ONEKEY Product Cybersecurity & Compliance Platform (OCP) with expert knowledge and consulting services provides fast and comprehensive analysis, support, and management to improve product cybersecurity and compliance from product purchasing, design, development, production to end-of-life.

Critical vulnerabilities and compliance violations in device firmware are automatically identified in binary code by AI-based technology in minutes – without source code, device, or network access. Proactively audit software supply chains with integrated Software Bills of Materials (SBOMs) generation. “Digital Cyber Twins” enable automated 24/7 post-release cybersecurity monitoring throughout the product lifecycle.

The integrated ONEKEY Compliance Wizard already supports compliance with requirements from IEC 62443-4-2, ETSI EN 303 645, UNECE R155, and many other standards and regulations.

As part of the EU-funded CRACoWi (Cyber Resilience Act Compliance Wizard) project, ONEKEY is collaborating with 13 European partners to develop an AI-powered assistant for the automated implementation of the EU Cyber Resilience Act (CRA).

The solution will guide companies through the entire compliance process—from the initial CRA scope assessment to the generation of the required Declaration of Conformity.

The Product Security Incident Response Team (PSIRT) is effectively supported by the integrated automatic prioritization of vulnerabilities, significantly reducing the time to remediation.

Leading international companies in Asia, Europe and the Americas already benefit from the ONEKEY Product Cybersecurity & Compliance Platform (OCP) and ONEKEY Cybersecurity Experts.

June 30 2026 – The greatest risk to global portfolios from Japan's currency crisis isn't the yen, it's the potential for disruption in the US Treasury market, warns the CEO of financial advisory giant deVere Group, as the Japanese currency sinks to its weakest level against the dollar since 1986.

Nigel Green says that if Japanese authorities are forced into sustained intervention to defend the yen, they may have little choice but to liquidate substantial amounts of foreign reserves, including US government bonds, potentially creating fresh pressure in the world's most important debt market.

“Everyone's focused on whether Tokyo will intervene in the currency market as the yen hits its lowest level in four decades. The more important question is how Japan pays for that intervention,” he explains.

“If authorities are compelled to step up support for the yen over a prolonged period, global investors could suddenly find themselves confronting an entirely different risk: one of the world's largest foreign holders of US Treasuries becoming a more significant seller.”

Japanese officials have repeatedly stated that they stand ready to take decisive action against excessive currency volatility, while Japan has already spent more than 11 trillion yen on intervention efforts during previous episodes of market stress.

Too many investors and analysts, says Nigel Green, who are concentrating solely on the foreign exchange implications of intervention, are overlooking what could become a far more consequential development for global financial markets.

“Japan's currency weakness is widely viewed as a domestic issue which, I believe, is a mistake,” comments the deVere CEO.

“Japan remains one of the largest foreign holders of US government debt. If intervention efforts become larger, longer, and more frequent, the implications go well beyond the foreign exchange market.

“Japan holds more than $1 trillion in US Treasury securities, making it one of the largest overseas creditors of the United States.

“To support the yen, Japanese authorities must sell foreign currency reserves, which are heavily invested in dollar-denominated assets, including US government bonds.”

The deVere CEO argues that the fundamental challenge facing Japanese policymakers is that intervention alone is unlikely to reverse the structural forces driving yen weakness, including the wide interest-rate and yield differences that continue to favour dollar assets over Japanese assets.

“The uncomfortable reality for policymakers is that intervention can slow a market move, but, as history teaches us, it rarely changes the underlying economic fundamentals,” he affirms.

“As long as investors can borrow cheaply in yen and earn substantially higher returns elsewhere, the structural pressure on the currency remains in place.”

This, he says, creates the possibility of repeated interventions that gradually increase pressure on Japan's foreign reserve holdings.

Nigel Green concludes: “The market is asking whether Japan will intervene.

“The question investors should be asking instead is: if Japan is, indeed, forced to intervene repeatedly, what assets will it have to sell to defend its currency?

“If the answer increasingly includes US Treasuries, then what appears to be a Japanese currency crisis today would rapidly become a global bond market crisis tomorrow.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

30 June 2026 – Equinor and Vår Energi have agreed to a swap of assets on the Norwegian continental shelf (NCS). The transaction enables further maturation of the Peon gas discovery towards development and strengthens Equinor’s position in the Troll-Fram area.

Under the agreement, Equinor will transfer 32,5% of its interest in the Peon discovery and operatorship to Vår Energi as part of a broader asset swap. As part of the transaction, Equinor will receive interests in producing assets and development licences, including a 5% share in the Fram field and Vår Energi’s positions in the Grosbeak and Mulder discoveries and Grønngylt prospect that are part of the Ringvei Vest development.

Equinor and its partners have agreed on the concept for the development of Peon with a tie-back solution to Gjøa. The development is expected to extend the lifetime of the hub and support long-term gas production from the area. The gas from Peon is expected to be sourced through Kårstø, creating additional value for Equinor.

Peon is one of the largest undeveloped gas discoveries on the NCS, with estimated recoverable resources of 105–195 million barrels of oil equivalent. The discovery is located approximately 60 kilometres from the Gjøa.

“This transaction enables us to speed up progress of one of the largest undeveloped gas discoveries on the NCS, Peon, while strengthening our position in the Troll-Fram area. The swap supports efficient development of resources and increased use of existing infrastructure. This is the latest in a series of transactions on the NCS where we have aligned interests across partnerships to enable faster tie-back developments”, says Kjetil Hove, executive vice president for Exploration & Production Norway.

The agreement with Vår Energi forms part of a series of transactions where Equinor has actively optimised its portfolio on the NCS.

The aim of the transactions has been to accelerate the development of discoveries and identify area solutions that benefit all parties, while strengthening Equinor’s position in producing assets and strategic licences:

Equinor and Aker BP have exchanged interests across several licences, including assets related to the Ringvei Vest and Yggdrasil area, strengthening positions in core areas.

The ability of bacteria to remove pollutants from soil, water, mine waste and other environments could be supercharged by a ‘friendly’ compatible virus, according to a study led by Flinders University.

The new insights, published in Communications Biology, suggests phage virus ‘bioaugmentation’ offers a compelling new direction for environmental biotechnology, by harnessing the ecological roles of lysogenic phages to enhance microbial function in polluted soils.

Traditional bioaugmentation strategies, while cost-effective and sustainable, face challenges including slow degradation rates and environmental constraints on microbial efficacy.

Phage bioaugmentation using lysogenic bacteriophages – viruses that infect bacteria and integrate into their host’s genomes without immediately killing them – use pollutant-degrading genes to bolster the bacteria’s genetic capabilities for bioremediation.

Pollution of natural ecosystems is a global concern, with industrialisation contaminating millions of soil and water sites. These contaminants threaten human health, agricultural productivity, and ecological balance.

Pollutants such as arsenic, chromium, polychlorinated biphenyls, pesticides, petroleum hydrocarbons, and excess nutrients, disrupt ecosystem impair microbial communities essential for soil health and nutrient cycling. These impacts degrade groundwater quality, threatening drinking water resources.

Safeguarding soil microbiomes is critical for ecosystem resilience, the environment and public health.

Flinders University researcher Niki Romeo says it can take years for microbes to break down toxins and pollutants, with lysogenic phages able to integrate auxiliary metabolic genes (AMGs) into bacterial hosts to improve degradation – helping to address the cost and limitations of conventional in-situ methods.

The researchers say regulatory frameworks would need to evolve with such biotechnologies to assess ecological safety, genetic stability, and long-term impacts of releasing engineered phages into natural environments.

“Issues such as gene transfer potential, persistence, containment, and unintended effects on non-target organisms will need to be addressed through biosafety protocols and environmental risk assessments before field-scale deployment,” says Flinders University PhD candidate Niki Romeo.

In the meantime, the method warrants further investigation on field experiments to validate the most effective in-soil candidate phage and to develop tools to monitor phage integration and AMG expression.

“If used well, phage bioaugmentation could be used in controlled conditions to help restore polluted environments and promote microbial resilience,” she says.

The research accompanies a wealth of other bacteriophage studies led by the Flinders Accelerator for Microbiome Exploration and other research by the Restoration Ecology group at the College of Science and Engineering.

Matthew Flinders Professor Martin Breed, who co-supervises Ms Romeo’s PhD, says soil remediation and ecosystem restoration are critical elements in improving living conditions for humans and other life on Earth.

Urban soil biodiversity sustains critical ecosystem functions such as nutrient cycling and plant growth, while also supporting human health through pathogen suppression, soil remediation and human immune system training, he says.

The mini review article, ‘Phage bioaugmentation reveals the potential of lysogeny for soil bioremediation’ (2026) by Niki Romeo, Ernestina Hauptfeld (Utrecht University), Qi Yang (CSIRO) and James G Mitchell has been published in Communications Biology DOI: 10.1038/s42003-026-10106-1. (ref. https://www.nature.com/articles/s42003-026-10106-1 )

Four communities in East Are’are Constituency (EAC) in Malaita Province have every reason to celebrate as they welcomed the handover of project materials for their new water supply projects, thanks to the People's Republic of China (PRC).

This achievement was made possible through the PRC's partnership with the (Solomon IIslands) Ministry of Rural Development (MRD), with $1.5 million in funding support under the Rural Sustainable Development Program (RSDP).

The official handover of project materials to the communities occurred on 29 May 2026.

This support aims to provide communities with access to clean running water at their doorsteps to improve health standards across the communities.

The four beneficiary communities are; Potaniu, Maniaha/Hauharii, Hatakau, and Raroasi.

Constituency Development Officer (CDO) Daniel Manata, on behalf of the EAC office and its people, expressed profound gratitude to PRC for the generous assistance.

The projects, which are the first of their kind for these communities under PRC funding, will have a positive impact on the lives of individuals, families, schools, churches, and vulnerable groups such as women, children, and persons with disabilities.

Indeed, it was a landmark achievement, the first of its kind in these communities, not only because of the delivery but also because it marked a significant accomplishment for both the constituency and the PRC partnership.

Access to clean and safe water is not just a luxury but a fundamental human right that is essential for the health and well-being of our communities (UN Declaration 2010).

CDO Manata stated that it is the ongoing commitment of the EMC office to continue supporting development initiatives in its communities to improve the social and economic livelihoods of everyone.

“So, having access to reliable, clean, and safe water for drinking, cooking, and sanitation is paramount.

“I believe such meaningful projects like this will undoubtedly transform our people’s lives,” he said.

Mr. Manata also recognized the importance of collaboration and partnership between the PRC, MRD, and the communities for the project’s success.

He further stated that the constituency office will continue to work closely with the PRC and other development partners to advance rural development initiatives and improve livelihoods in the constituency.

“…So, we are hoping for more support this year and in the future, and we will continue to work together. I would also like to thank our new government for recognizing our important relationship, which we will continue to maintain. At the end of the day, we are working for what benefits everyone. So, thank you very much for this generous support,” he added.

Speaking on behalf of the beneficiary communities, Catechist Willie Takaia from Raroasi thanked the PRC for the kind assistance.

“Water supply projects are among our greatest needs. Once completed, these water projects will benefit everyone, including women, children, and people with disabilities. We look forward to more help from you (PRC) in the near future.

“This assistance is not only significant but also paves the way for sustainable development partnerships in our constituency. We truly appreciate your support,” Mr. Takaia said.

East Are’are Constituency also received similar support under the initial phase of the RSDP in 2023 for two communities: Tawanaora, for the building of its school classroom, and a water supply and sanitation project at a cost of SBD$1.5 million.

Representing the Chinese Embassy, Counsellor Li Qinghua congratulated EAC and the beneficiaries on receiving the projects and highlighted China’s firm commitment to supporting the Solomon Islands’ socio-economic development through “small yet smart” projects like RSDP.

Ms. Li reiterated that the handover is another testament to the practical cooperation between PRC and the Solomon Islands, further strengthening bilateral relations.

Counsellor Li stated that, as a partnership between both nations, the core purpose of RSDP is to improve socio-economic development in the country.

She also highlighted the significant achievements both China and the Solomon Islands have made since establishing diplomatic relations in 2019. These include the handover of the National Referral Hospital Comprehensive Medical Centre, the implementation of the Auki Road project, the connection of the 161 telecommunication towers across Solomon Islands and ongoing support for RSDP to help communities develop through projects that create long-term improvements and foster self-sufficiency in rural areas.

“Since 2023, based on the agreement between our two governments, China has been funding the RSDP.

“Our goal is to ensure that most benefits reach the people. It is our shared responsibility to monitor this program and make it a success,” she added.

Ms. Li also shared China’s remarkable achievement in lifting 800 million people out of poverty and expressed a wish to share China’s experience in poverty alleviation with the Solomon Islands.

She emphasized the importance of working together with the government, people, and communities to turn poverty alleviation into reality.

Ms. Li added, “The RSDP is not just a project; it is a strong connection and partnership between our two nations, with China committed to helping the Solomon Islands develop and empower its people.”

She also highlighted China’s commitment to offering capacity-building and training opportunities for the Solomon Islands, focusing on knowledge transfer to support the country’s development and prosperity.

Ms. Li emphasized that partnership and collaboration are key to achieving greater outcomes.

RSDP is a partnership program between the PRC and the Solomon Islands Government, implemented through the Ministry of Rural Development.

Similar project support has also been extended to other constituencies.

June 29 2026 – Europe's sweltering summers are the new normal, which means major new opportunities for investors looking, affirms the CEO of global financial advisory giant deVere Group.

Nigel Green's bullish analysis comes as Western Europe endures one of the most severe heatwaves in modern history, with France reporting around 1,000 excess deaths in a single week, temperatures exceeding 40C across multiple countries, and governments issuing rare “risk to life” warnings affecting tens of millions of people.

He says: “Investors who view Europe's escalating heatwaves purely as an environmental crisis are making a mistake.

“They should also be viewing them as one of the biggest structural investment shifts unfolding anywhere in the developed world.

“Europe has spent decades building economies, cities, housing, healthcare systems and infrastructure around climate conditions that no longer exist.

“Rebuilding them for the climate that does exist will require trillions of euros of investment over the coming decades.

“This creates enormous opportunities.”

The deVere CEO says markets are still underestimating how quickly extreme heat is becoming a permanent economic feature across Europe.

“Scientists have been warning for years that Europe is warming faster than any other continent.

“We're now seeing what that actually means for economies, businesses and asset prices.

“France has recorded around 1,000 excess deaths in just one week. Rail networks have shut down, nuclear power production has been disrupted by rising river temperatures, agricultural yields are coming under pressure, hospitals are operating under emergency conditions. The list goes on.

“This is what structural economic change looks like to me.”

The deVere CEO says one of the clearest opportunities lies in an area that many investors have historically overlooked: cooling.

“Only around one in five European households currently has air conditioning. In the United States, it's close to 90%. That gap is extraordinary.

“If Europe's summers continue to resemble the summers we've experienced this year, demand for residential cooling, commercial cooling, industrial cooling and energy-efficient climate control technologies is likely to explode.

“The companies positioned to meet that demand could experience decades of structural growth.”

He also believes investors are underestimating the scale of investment that will be required to modernize Europe's electricity infrastructure.

“Every additional air conditioning unit, every cooling system, every data center and every adaptation technology requires electricity.

“Europe's grids were not designed for prolonged periods of extreme summer demand.

“This means enormous investment opportunities in grid modernization, electricity transmission, battery storage, energy management software and power generation.”

Nigel Green says water could become one of the defining investment themes of the next decade.

“Extreme heat creates water stress, water stress creates political, economic and commercial pressure.

“Companies involved in water treatment, storage, recycling, efficiency and distribution could become some of the biggest beneficiaries of Europe's changing climate.”

He also identifies healthcare and urban infrastructure as sectors likely to experience sustained growth.

“Heatwaves already kill more Europeans than any other weather-related event. Ageing populations and rising temperatures are creating a powerful long-term investment case across healthcare infrastructure, pharmaceuticals, medical technologies and climate-related health services.

“At the same time, European towns and cities themselves will need to be redesigned.”

The deVere chief executive argues that investors are making the same mistake they often make during periods of major structural change.

“They assume that tomorrow will broadly resemble yesterday.

“But Europe's climate is changing faster than markets are pricing.”

He concludes: “Investors who identified the internet revolution early generated extraordinary returns. Investors who understood the energy transition early generated extraordinary returns.

“The adaptation economy may become one of the defining investment stories of the next generation.

He concludes: “Europe's sweltering summers are not an anomaly. They're the new normal. Savvy investors will already be on the case.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Responding to news that Kazakhstani authorities have detained Batikha Bilashkyzy, whose brother, Serikzhan Bilash, is a human rights defender and the founder of the Atajurt movement, Marie Struthers, Amnesty International’s Eastern Europe and Central Asia Director, said:

“Batikha Bilashkyzy’s detention on apparently politically motivated and fabricated fraud charges is deeply alarming. She must be released unless she is promptly charged with an internationally recognizable criminal offence and her fair trial rights are respected.”

“Any targeting of Batikha Bilashkyzy solely because of her family ties or peaceful expression of solidarity with Atajurt’s mission would amount to another attempt by the Kazakhstani authorities to intimidate those associated with the Atajurt movement and its work documenting the repression of ethnic Kazakhs and other Turkic minorities in China.

“The Kazakhstani authorities must end the harassment of Atajurt members, supporters and their families.”

Background

On the evening of 25 June, law enforcement and security officers forcibly entered the home of Batikha Bilashkyzy, elder sister of Serikzhan Bilash, in the village of Saimasai, Almaty Region. They confiscated her mobile phone and copies of the Koran, and took her to the police station in the town of Konaev. At the time of writing, she remains in custody. Her lawyer and family have not been told when a detention hearing will take place.

Batikha Bilashkyzy is not known to have been politically active. She reportedly attended several court hearings in support of Atajurt members but stopped after local officials reportedly intimidated her.

Her detention comes amid a wider crackdown on the Atajurt movement. In April 2026, 19 activists were convicted over a peaceful protest calling for the release of a Kazakhstani citizen detained in China’s XUAR. Eleven received five-year prison sentences for “incitement of interethnic or social discord,” while eight others received non-custodial sentences. Their convictions were upheld on appeal on 9 June.

Amnesty International has previously called on the Kazakhstani authorities to quash the convictions of the Atajurt activists and ensure that everyone in Kazakhstan can exercise their rights to freedom of expression, peaceful assembly and association without intimidation or reprisals.