Author: MIL-OSI Publisher

Source: KOF Economic Institute

The Swiss labour market continues to lose momentum. The KOF Employment Indicator has continued to fall in the third quarter of 2025 and, at 0.3 points, is now only just in positive territory. There is therefore no sign of a rapid upturn in the labour market. The overall indicator is particularly adversely affected by the subdued employment outlook in the manufacturing sector, the wholesale and retail trade and the hospitality industry.

The KOF Employment Indicator has fallen to 0.3 points in the third quarter of 2025. In the last quarter the corresponding figure was 1.0 points (revised from 0.6 points). This is the lowest level the indicator has reached since the beginning of 2021. As the KOF Employment Indicator is ahead of actual employment tr

Source: Republic of Nauru

The Republic of Nauru has welcomed its first new citizens under the government’s Economic and Climate Resilience Citizenship Program, announced at COP29 late last year.

Nauru, ranked the world’s fifth most vulnerable nation under the United Nations’ Multidimensional Vulnerability Index (MVI) for its heightened exposure to economic and environmental shocks, launched the program as a way for conscientious investors to acquire an additional citizenship while contributing to climate adaptation and sustainable development projects in the South Pacific.

Program CEO Edward Clark revealed the first approved applicant is a German family of four who recently sold their long-standing family business – a well-known, reputable German company – and are currently living in Dubai.

“They were looking for a second citizenship to provide them with a Plan B given the current global political volatility and chose the Nauru Economic & Climate Resilience Citizenship Program because the contribution was going towards tackling the impacts of climate change on the island,” he explained.

Mr Clark, who has an extensive background in international banking, financial crime and compliance, said it took under four months from receiving the application to the granting of citizenship, and that strict due diligence processes were followed.

“This is a fundamental pillar of our program and a safeguard for Nauru's reputation and security,” he said.

“All applicants undergo checks with international law enforcement agencies and are subject to in-depth background verification. Our entire application process is consistent with international best practices.

He said only individuals of the highest calibre who can participate in shaping Nauru’s future will be granted citizenship.

“The granting of Nauruan citizenship to this family marks a major milestone for the program and provides even more confidence to those who are currently exploring Nauru citizenship by investment.”

Nauru is embarking on a long-term project that will reform the nation in the face of economic challenges and climate change, which as well as dealing with issues like food and water security, includes the “Higher Ground Initiative” – relocating almost the entire population from the coast to higher ground.

The new citizens from Germany applied through international migration agents Henley & Partners, who in a statement said the company is, “incredibly proud to represent the first applicant to be successfully granted citizenship under the Republic of Nauru’s Economic and Climate Resilience Citizenship Program.

“For our firm, this goes beyond mobility; this is about directing capital into a Small Island Developing State, which is facing real climate risk.

“This is a clear example of how investment migration, when properly designed and governed, can channel capital toward economic and climate resilience measures and create a more sustainable future,” the statement concluded.

Source: Government of the Solomon Islands

The Shortland Islands Constituency (SIC) today (1st August, 2025) officially acquitted its 2024 Constituency Development Funds (CDF) expenditure with financial report submitted to the Ministry of Rural Development (MRD) in strict compliance with the CDF Act 2023.

This decisive act underscores the constituency’s commitment to transparency, accountability and responsible management of public resources, setting a positive precedent for other constituencies.

Also, the submission not only foster trust but also demonstrate the constituency office’s dedication to good governance, marking a significant step in upholding transparency and accountability under the CDF Act 2023, in line with Section 29, which mandates all 50 constituencies to submit annual reports on the utilization of CDF grants.

Constituency Development Officer (CDO) Bernard Vave and his constituency office team presented the report to the Deputy Secretary Technical (Acting) George Balairamo. The report details the financial records and expenditures of the $3.88 million allocated to each constituency for the 2024 financial year.

CDO Vave on behalf of the constituency office and the constituency’s leadership emphasized their commitment to fostering community development through proper utilization of CDF funds, ensuring that all projects align with national principles and serve the best interests of Shortland Islands people/constituents.

“This act reflects our constituency’s ongoing efforts under the leadership of Honourable Minister Isikeli Vave Jnr, MP to uphold integrity, reinforce public trust in public resource management and to improve our development initiatives and ensure responsible stewardship of public funds for sustainable development initiatives for our rural communities.

“We remain dedicated to fostering transparent governance and working closely with our communities to prioritize developments that will bring lasting benefits to everyone”

The acquittal confirms that funds allocated for 2024 have been appropriately managed and accounted for, reflecting the constituency’s dedication to good governance.

CDO Vave expressed gratitude to the national government through MRD, all stakeholders, including community leaders, community members, and implementing agencies, for their cooperation and commitment throughout the process of implementation in 2024.

Moving forward, the constituency remains committed to maintaining high standards of financial management and transparency, ensuring that development initiatives continue to benefit the people of the Shortland Islands.

Representing the MRD, Deputy Secretary Technical (Acting) Goerge Balairamo recognized the submission as a positive way forward.

He emphasized the Ministry’s commitment to implementing the CDF legislation and providing guidance to ensure proper administration of constituency programs within this legal framework.

He also highlighted the importance of these annual reports, including financial expenditure reports, as vital documents for organizational accountability and transparency, particularly when public resources are involved.

“These reports reinforce transparency and demonstrate accountability in the use of public funds,” Mr. Balairamo said.

He also commended Honourable Minister for Home Affairs, Hon. Isikeli Vave Jnr for his leadership, and thanked constituency officers for their diligent efforts in fulfilling their reporting obligations.

Meanwhile, CDO Vave on behalf of Hon. Minister Isikeli, MP, and the people of Shortland Islands, expressed delight in submitting the report and pledged ongoing support to MRD to ensure annual compliance with legal reporting requirements.

He noted that most of the SIC 2024 budget was allocated to support community projects in compliance to the CDF Act 2023 funding apportionment.

According to the constituency office, a major delivery of 2024 projects to the constituency is arranged for next week with loading of projects are currently underway in Honiara.

The CDF Act 2023 was passed by Parliament on December 22, 2023, and came into effect on January 5, 2024. This legislation makes it clear that any offences committed by recipients of the CDF after this commencement date are subject to penalties.

Penalties apply to constituents, Members of Parliament, and public officers who commit offences such as:

Misappropriates any funds or assets from the fund; or
Advances materials and cash from a supplier without prior approval from the responsible ministry; or
Fraudulently converts project assets or materials to his own use or to the use of some other person; or
Deliberately victimises non-voters by excluding them from receiving Constituency Development Funds projects and funds without justifiable grounds; or
Assists or causes a person to misappropriate or apply the funds otherwise than in the manner provided in this Act and Regulations.

With the new CDF legislation in place, it is the collective responsibility of all stakeholders to adhere to the law, ensuring proper use of funds and avoiding legal penalties.

We should view this legislation not as a threat but as a guide to conduct and accountability in managing development funds or public resources.

The primary purposes of the CDF Act 2023 are:

To strengthen good governance;
To ensure improved and effective delivery mechanisms of the Constituency Development Funds and
To promote equal and inclusive participation of all Solomon Islanders in development.

Constituents and the public are encouraged to consult their respective constituency offices should they need to get more information about how their constituency offices implement their Constituency Development Program (CDP).

Constituency Development Program is a national programme of the Solomon Islands Government (SIG) administered by the Ministry of Rural Development (MRD).

It is implemented by the 50 constituencies in the country purposely to improve the socio-economic livelihoods of Solomon Islanders.

Source: Republic of Nauru

The Republic of Nauru has welcomed its first new citizens under the government’s Economic and Climate Resilience Citizenship Program, announced at COP29 late last year.

Nauru, ranked the world’s fifth most vulnerable nation under the United Nations’ Multidimensional Vulnerability Index (MVI) for its heightened exposure to economic and environmental shocks, launched the program as a way for conscientious investors to acquire an additional citizenship while contributing to climate adaptation and sustainable development projects in the South Pacific.

Program CEO Edward Clark revealed the first approved applicant is a German family of four who recently sold their long-standing family business – a well-known, reputable German company – and are currently living in Dubai.

“They were looking for a second citizenship to provide them with a Plan B given the current global political volatility and chose the Nauru Economic & Climate Resilience Citizenship Program because the contribution was going towards tackling the impacts of climate change on the island,” he explained.

Mr Clark, who has an extensive background in international banking, financial crime and compliance, said it took under four months from receiving the application to the granting of citizenship, and that strict due diligence processes were followed.

“This is a fundamental pillar of our program and a safeguard for Nauru's reputation and security,” he said.

“All applicants undergo checks with international law enforcement agencies and are subject to in-depth background verification. Our entire application process is consistent with international best practices.

He said only individuals of the highest calibre who can participate in shaping Nauru’s future will be granted citizenship.

“The granting of Nauruan citizenship to this family marks a major milestone for the program and provides even more confidence to those who are currently exploring Nauru citizenship by investment.”

Nauru is embarking on a long-term project that will reform the nation in the face of economic challenges and climate change, which as well as dealing with issues like food and water security, includes the “Higher Ground Initiative” – relocating almost the entire population from the coast to higher ground.

The new citizens from Germany applied through international migration agents Henley & Partners, who in a statement said the company is, “incredibly proud to represent the first applicant to be successfully granted citizenship under the Republic of Nauru’s Economic and Climate Resilience Citizenship Program.

“For our firm, this goes beyond mobility; this is about directing capital into a Small Island Developing State, which is facing real climate risk.

“This is a clear example of how investment migration, when properly designed and governed, can channel capital toward economic and climate resilience measures and create a more sustainable future,” the statement concluded.

Source: Media Fast

Nairobi, Kenya – August 1, 2025 – Shelter Afrique Development Bank (ShafDB) has announced the signing of a strategic agreement with the Arab Bank for Economic Development in Africa (BADEA) to support its transformative capital increase initiative.

Effectively, BADEA has approved a landmark USD 120 million to support the capitalization program of Shelter Afrique Development Bank, the leading Pan-African institution focused on affordable housing and urban development. The concessional financing facility will help eligible member states settle and increase their capital subscriptions to ShafDB.

This initiative, developed in partnership with the Arab Bank for Economic Development in Africa (BADEA), introduces an innovative financing mechanism through which eligible member states can access on-lending at competitive terms. The BADEA-supported facility, totaling USD 120 million, will be used to settle and boost member states' capital subscriptions to Shelter Afrique Development Bank (ShafDB).

“This agreement with BADEA marks a critical step in strengthening our capital base and advancing our mission of financing affordable housing and sustainable urban infrastructure across Africa,” said Thierno Habib-Hann, Managing Director of Shelter Afrique Development Bank. “We are grateful to BADEA for its strong partnership and unwavering support in this pivotal phase of our institutional evolution.”

The new capital increase program includes an initial equal allocation to all member states, followed by a phased reallocation, first on a pro-rata basis, and then on a first-come, first-served basis. This approach aims to encourage active participation by member states and to strengthen ShafDB's capital adequacy in a balanced and transparent manner.

Commenting on the program, the president of BADEA H.E. Abdullah KH ALMUSAIBEEH, “We see this capital program as a strategic milestone in Shelter Afrique Development Bank's evolution. BADEA is proud to back this initiative and we remain committed to our shared mission of enabling access to decent housing and inclusive urban development across Africa.”

The need to enhance equity capital has become critical following the institution's transformation into a Development Bank, a milestone formally approved by Shelter Afrique's shareholders during the Extraordinary General Meeting (EGM) held in Algiers, Algeria, in October 2023.

Building on this transformation, a significant achievement was realized during the Annual General Meeting in June 2024 in Kigali, Rwanda, where shareholders demonstrated strong leadership by endorsing a transformative capital increase program, and the board approved in December 2024 a capital increase of over a USD 200 million.

“Expanding capital base will enable the Bank to scale up financing along the housing value chain, access more competitive funding from international and African capital markets, and reinforce its role in addressing the housing deficit and driving inclusive urban development across its 44 member states,” Mr. Hann said.

Increased leverage

The capital increase program has been designed to significantly strengthen ShafDB's balance sheet over the medium-term, expand its shareholder capital base, and to significantly mobilize debts.  The capital raised will also support the Bank's plans to attain investment-grade credit ratings, attract new institutional investors, and expand its lending and technical assistance programs in member countries.

Source: deVere Group

August 1 2025 – Donald Trump's sweeping new tariffs are not just reshaping global trade – they are accelerating the rise of a multipolar global economy.

The shift away from a US-dominated system is no longer theoretical, it is active and accelerating.

“Multipolarity now defines the direction of global trade,” says Nigel Green, CEO of deVere Group, one of the world's largest independent financial advisory and asset management organizations.

“These tariffs are forcing countries to rewire their trade, capital, and strategic priorities. The world is moving toward multiple centres of economic power and influence.”

Effective August 7, the US will impose tariffs on nearly every major trading partner.

Countries running a trade deficit with the US face a 15% floor. Canada has been hit with 35%. Brazil, 50%.

India now faces a 25% rate, alongside a financial penalty for continuing energy and defence ties with Russia—despite being positioned by Trump as a close ally.

“India's inclusion shows how quickly partners can become pressure points. This pressure is already nudging New Delhi toward deeper cooperation with trade rival Beijing. The consequences will be long-term.”

While trade deals with China and Mexico remain under negotiation, the broader international response is already unfolding.

“Beijing, Moscow, and increasingly Delhi are coordinating more closely on trade, infrastructure and investment. Long-time allies like Switzerland and Taiwan are reassessing risk. Many governments are seeking to reduce exposure to Washington's economic leverage altogether.

“This isn't a rerun of past trade disputes. It is a global shift away from reliance on the US as the central node. New trade networks are forming by necessity, not necessarily by preference.”

Diplomatic talks with China have intensified in recent months, with meetings in Geneva, London and Stockholm.

Beijing is focused on securing a continued freeze on US semiconductor export controls. Washington is demanding action on fentanyl, greater access for American firms, and increased Chinese purchases of US goods. But the real story lies beyond the negotiating table.

“Tariffs are being baked in as permanent features of the new economic order. Countries are responding by building systems that can operate without US permission.”

The US tariff list now stretches across continents. Switzerland faces 39%. South Africa, Libya, Algeria, Serbia, and several others between 30% and 41%. Taiwan, Israel, Pakistan, and Norway are all in the 15–20% range. The sweep is deliberate—and global.

“Markets are adjusting. Capital is shifting. Supply chains are realigning around regional strength, not global scale.”

 

Nigel Green continues: “The dollar remains dominant, but its influence is no longer unchallenged.

“Central banks are pursuing alternatives. Reserve diversification is accelerating. Regional trading blocs are pushing forward with new payments infrastructure, less reliant on Washington's rules.

“This fragmentation is the new baseline. The post-war consensus on trade and financial cooperation is fading. What replaces it is a world of multiple economic power and influence centres, each with their own rules and reach.”

For investors, the implications are direct. Correlations are weakening. Policy risk is climbing. Exposure to geopolitical realignment is no longer abstract, it's active.

“Anyone still expecting a return to the old system is behind the curve. This is the direction of travel now. Global trade will be multipolar. Capital allocation must reflect that.”

The deVere CEO concludes: “It locks in a new world order where influence is distributed, and alignment is increasingly transactional. For global investors, it marks the start of a generation-defining realignment.

“From here, economic and trade power is going to become more fragmented—and competition for it more intense.”

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.

Source: Justice Steven Moore, President of the Australian Judicial Officers Association – 1 August 2025

The Australian Judicial Officers Association (AJOA) calls on the Attorney General of the Northern Territory to defend the Northern Territory Coroner against personal attack.

This follows an extraordinary attack on the Coroner in the Northern Territory Parliament by the Minister for Prevention of Domestic Violence on 29 July 2025.

“Public discussion and debate about the work of the courts is an essential part of our democracy”, AJOA President Justice Steven Moore said.

“But it must not undermine judicial independence and the vital work of the courts. Personal attacks by politicians on members of the judiciary have that effect and only undermine public confidence in the courts”.

“In saying that the Coroner lacked ‘humility’ and ‘bravery’, and that she was ‘more focused on the reveal rather than the result’, the Minister unfairly belittled the integrity and professionalism of the Coroner in important proceedings of great public interest”.

“There is no place for such personal attacks on judicial officers in our public debate”.

The Australian Judicial Officers Association is the professional association of judges and magistrates in Australia.

• Adjusted EBIT improves to EUR 871 million, net profit more than doubles to over 1 billion euros
• Low oil prices have a positive impact on results
• Demand from the US remains strong despite weakness of the US dollar, further growth on the North Atlantic
• Lufthansa Cargo doubles quarterly result compared with previous year
• Lufthansa Technik posts record result in first half of year
• Unit cost increase reflects ongoing high cost inflation and higher location costs in home markets
• Full-year forecast reaffirmed despite uncertainties.

Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG: “The Lufthansa Group remains on course. Although the second quarter was again marked by geopolitical crises and economic uncertainties, we are today confirming our positive outlook for the full year. However, 2025 will remain a year of transformation for us, as delays in aircraft deliveries, certifications, and engine overhauls continue. The disproportionate burden on European airlines due to unilateral EU regulations also continues to put us at a disadvantage in global competition.

In this challenging environment, we were able to increase our operating result by almost a third in the second quarter and double the Lufthansa Group result. The basis for this economic success is and remains the regained operational stability of our airlines. Thanks to the tremendous commitment of our employees on board and on the ground, we are now able to report positive operating results for the first six months of the year. Our core brand achieved its best stability and punctuality figures since 2016. This not only significantly improved customer satisfaction but also had a noticeable impact on earnings due to lower compensation payments.

Lufthansa Cargo and Lufthansa Technik once again demonstrated their global leading performance in the first half of 2025. It is also encouraging that our investment in ITA Airways is already contributing to the Group's financial success.

We are continuing our necessary efforts to increase efficiency, productivity, and profitability, particularly in the turnaround of our core brand, in order to expand our position as the world's largest airline group outside the US.”

Results

In the second quarter of 2025, the Lufthansa Group increased its revenue by three percent year-on-year to 10.3 billion euros (previous year: 10.0 billion euros). The Lufthansa Group generated an operating profit (Adjusted EBIT) of 871 million euros (previous year: 686 million euros). The improvement in earnings was mainly due to the four percent expansion of the flight program in the passenger business, a positive result from the investment in ITA Airways of 91 million euros, partly due to currency effects, and the doubling of the operating result of the logistics business segment compared to the previous year. As a result, the operating margin increased by 1.5 percentage points year-on-year in the second quarter. The Group net result was 1.01 billion euros, more than double the previous year's figure (469 million euros). This disproportionate increase was due to extraordinary tax effects and currency effects.

Passenger numbers and traffic development

In the first half of the year, more than 61 million passengers flew with the airlines of the Lufthansa Group, an increase of two percent compared with 2024. In the second quarter alone, the airlines welcomed around 37 million passengers (previous year: 35.9 million) on board. Despite a four percent increase in seat capacity, the load factor remained stable compared with the previous year at 82 percent.

The passenger airlines' revenue per available seat kilometer (RASK) declined slightly by 0.9 percent in the second quarter compared with 2024 after adjusting for currency effects. This was primarily due to lower average prices in the European business as a result of intensifying competition. In contrast, average revenues from intercontinental traffic remained stable despite a market-wide expansion of capacity. Unit costs (CASK) excluding fuel and emissions expenses rose by 4.1 percent compared with the same quarter last year due to ongoing cost inflation, driven in particular by personnel and location costs.

Overall, revenue from passenger airlines rose by three percent to 8.2 billion euros in the second quarter (previous year: 8.0 billion euros). Adjusted EBIT increased to 690 million euros (previous year: 581 million euros). All airlines generated a positive result in the second quarter.

In the first half year, revenue for the passenger airlines totaled 14.1 billion euros, representing growth of around four percent compared with the previous year. Adjusted EBIT improved to -244 million euros (first half of 2024: -337 million euros). The positive development is mainly attributable to lower fuel costs, higher income from investments, and the absence of financial strike-related expenses in the previous year. In contrast to the first half of 2024, network stability also improved significantly, resulting in a 106 million euros reduction in financial expenses due to flight irregularities.

The integration of ITA Airways, in which the Lufthansa Group holds a 41 percent stake in the first phase, is continuing to progress. The benefits for customers are already clearly noticeable. Since the beginning of July, the airlines of the Lufthansa Group and ITA Airways have harmonized the benefits for their respective status customers, such as mutual lounge access, priority boarding, and conditions for additional baggage.

Also since July, flights from Lufthansa, SWISS, Austrian Airlines, and Brussels Airlines can be combined with long-haul flights from ITA Airways in a single booking. This has been possible for short- and medium-haul flights since March.

Starting in September, ITA Airways guests will be able to store their travel profile electronically in the Lufthansa Group Travel ID and benefit from the associated digital customer services of the Lufthansa Group.

Lufthansa Airlines continues to implement Turnaround program

Lufthansa Airlines' Turnaround program remains on track. Increasing operational stability forms the foundation for the success of this program. Significant progress has already been made in this regard: punctuality and reliability achieved their best figures in ten years in the first six months. At the same time, revenues increased. Revenue from flight-related ancillary services rose by more than 25 percent in the first half of the year. In addition, structural measures have been initiated with the announced closure of the customer service center in Peterborough (Canada) and the associated reduction in personnel, which will make Lufthansa Airlines more efficient in the long term. The Turnaround measures are expected to have a gross earnings effect of 1.5 billion euros in 2026 and 2.5 billion euros in 2028.

Lufthansa Technik at record levels in the first half of the year, Lufthansa Cargo doubles its second quarter result compared with the previous year

The sustained high demand for air travel is leading to a further increase in demand for maintenance and repair services. Lufthansa Technik's revenue rose by eight percent to 2.0 billion euros in the second quarter (same quarter last year: 1.8 billion euros). Ongoing material shortages, the US dollar exchange rate and increased US tariffs led to a ten percent increase in expenses compared with the same quarter last year. Nevertheless, Lufthansa Technik achieved an Adjusted EBIT of 310 million euros in the first half of 2025, once again setting a new record.

Lufthansa Cargo continued the positive trend of the first three months of the year in the second quarter. With an Adjusted EBIT of 73 million euros, the operating result in the second quarter doubled compared with the previous year (second quarter of 2024: 36 million euros). High demand for Asian e-commerce shipments and capacity bottlenecks in sea freight traffic led to an increase in demand and thus a higher load factor for Lufthansa Cargo. Since June 2025, Lufthansa Cargo has been marketing the freight capacity of ITA Airways' South American routes to Rome. Lufthansa Cargo plans to gradually expand the marketing of belly capacity to all continental and intercontinental routes of the Italian airline. This will further consolidate Lufthansa Cargo's route network.

Balance sheet strengthened, debt reduced

The Lufthansa Group's operating cashflow amounted to around 2.8 billion euros in the first half of the year (previous year: 2.7 billion euros). Net investments remained at the previous year's level at 1.6 billion euros. Overall, the Lufthansa Group generated an Adjusted Free Cashflow of 1.04 billion euros (previous year: 878 million euros).

Net debt decreased slightly to 5.5 billion euros compared with the end of 2024 (December 31, 2024: 5.7 billion euros). Net pension obligations fell by 400 million euros to 2.2 billion euros due to the higher discount rate. The Lufthansa Group's available liquidity increased by 100 million euros compared with the beginning of the year to 11.1 billion euros.

Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG: “We continue to operate in a volatile environment with high uncertainty and high cost pressure. I am therefore pleased to be able to present another quarterly result that is significantly above the previous year and to report progress in our Turnaround program. In our assessment, opportunities and risks are balanced. We therefore continue to expect a full year 2025 result significantly above the previous year and Adjusted Free Cashflow at approximately the previous year's level. We thereby confirm our guidance. At the same time, we are closely monitoring macroeconomic developments and can respond flexibly to changes in the business environment.”

Outlook

Global demand for air travel remains strong. However, geopolitical crises and macroeconomic uncertainties, particularly commodity price and exchange rate volatility, are affecting the accuracy of forecasts for the rest of the year. In addition, the tendency of many travelers to book at shorter notice is limiting visibility for the second half of the year.

Despite ongoing global uncertainties, the Lufthansa Group is reaffirming its forecast for the full year and expects operating profit (Adjusted EBIT) to be significantly higher than last year (previous year: 1.6 billion euros) with capacity growth of around four percent.

The company continues to expect Adjusted Free Cashflow to remain at the previous year's level (previous year: 840 million euros). This includes net investments of 2.7 to 3.3 billion euros, primarily for the ongoing fleet renewal.

Among other things, this will finance the remaining payments for the first Boeing 787-9 long-haul aircraft at the group's largest hub in Frankfurt. By the end of the year, up to ten of these 'Dreamliner' with the new Allegris seat generation are expected to be added to the group's fleet. In summer 2026, Lufthansa Airlines plans to operate a total of 15 Boeing 787-9 s from Frankfurt, more than doubling the number of aircraft offering the Lufthansa Allegris premium product to customers.

Further information

Further information on the results of individual business segments will be published in the report for the second quarter of 2025. This will be published simultaneously with this press release on July 31 at 7:00 a.m. CEST at https://investor-relations.lufthansagroup.com/en/financial-reports-publications/financial-reports.html.

Traffic figures for the second quarter of 2025 will also be published at 7:00 a.m. CEST at https://investor-relations.lufthansagroup.com/en/financial-reports-publications/traffic-figures.html.

Source: Media Fast

Nairobi, Kenya – [31 July 2025] – Shelter Afrique Development Bank (ShafDB) has announced the signing of a strategic agreement with the Arab Bank for Economic Development in Africa (BADEA) to support its transformative capital increase initiative.

Effectively, BADEA has approved a landmark USD 120 million to support the capitalization program of Shelter Afrique Development Bank, the leading Pan-African institution focused on affordable housing and urban development. The concessional financing facility will help eligible member states settle and increase their capital subscriptions to ShafDB.

This initiative, developed in partnership with the Arab Bank for Economic Development in Africa (BADEA), introduces an innovative financing mechanism through which eligible member states can access on-lending at competitive terms. The BADEA-supported facility, totaling USD 120 million, will be used to settle and boost member states' capital subscriptions to Shelter Afrique Development Bank (ShafDB).

“This agreement with BADEA marks a critical step in strengthening our capital base and advancing our mission of financing affordable housing and sustainable urban infrastructure across Africa,” said Thierno Habib-Hann, Managing Director of Shelter Afrique Development Bank. “We are grateful to BADEA for its strong partnership and unwavering support in this pivotal phase of our institutional evolution.”

The new capital increase program includes an initial equal allocation to all member states, followed by a phased reallocation, first on a pro-rata basis, and then on a first-come, first-served basis. This approach aims to encourage active participation by member states and to strengthen ShafDB's capital adequacy in a balanced and transparent manner.

Commenting on the program, the president of BADEA H.E. Abdullah KH ALMUSAIBEEH, “We see this capital program as a strategic milestone in Shelter Afrique Development Bank's evolution. BADEA is proud to back this initiative and we remain committed to our shared mission of enabling access to decent housing and inclusive urban development across Africa.”

The need to enhance equity capital has become critical following the institution's transformation into a Development Bank, a milestone formally approved by Shelter Afrique's shareholders during the Extraordinary General Meeting (EGM) held in Algiers, Algeria, in October 2023.

Building on this transformation, a significant achievement was realized during the Annual General Meeting in June 2024 in Kigali, Rwanda, where shareholders demonstrated strong leadership by endorsing a transformative capital increase program, and the board approved in December 2024 a capital increase of over a USD 200 million.

“Expanding capital base will enable the Bank to scale up financing along the housing value chain, access more competitive funding from international and African capital markets, and reinforce its role in addressing the housing deficit and driving inclusive urban development across its 44 member states,” Mr. Hann said.

Increased leverage

The capital increase program has been designed to significantly strengthen ShafDB's balance sheet over the medium-term, expand its shareholder capital base, and to significantly mobilize debts.  The capital raised will also support the Bank's plans to attain investment-grade credit ratings, attract new institutional investors, and expand its lending and technical assistance programs in member countries.

About Shelter Afrique Development Bank:

Established in 1981 in Lusaka, Zambia, Shelter Afrique Development Bank (ShafDB) is a Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: African Development Bank (AfDB) and African Reinsurance Corporation (Africa-Re).  https://shelterafrique.org/en/about/membership  

The institution is involved in financing housing and related infrastructure across the value chain, both on the demand and supply sides, through its four (4) business lines: Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private partnerships (PPP) Group, and the Fund Management Group (FMG).

https://www.shelterafrique.org/en/home

About the Arab Bank for Economic Development in Africa (BADEA):

The Arab Bank for Economic Development in Africa (BADEA) is a multilateral financial institution established in 1974 by the Arab League. BADEA aims to strengthen economic, financial, and technical cooperation between Arab and African regions by financing development projects and supporting capacity building. https://www.badea.org/

Source: Invest Moldova Agency

A New Urban Hospitality Hub to Open in Fall 2025 as Part of the “German Village” Concept

Chișinău, Republic of Moldova – July 31, 2025 – Amid a surge in tourism and international travel, Moldova is set to welcome its first ibis Styles hotel, part of the renowned Accor Group, a global leader in the hospitality industry. Scheduled to open in fall 2025, the project represents a €12 million investment and marks a new milestone in the development of Moldova's HORECA and tourism infrastructure.

The hotel is a flagship component of the “German Village” urban concept, developed by Regata Imobiliare SRL, and is strategically located on the main road to Chișinău International Airport (RMO)—one of Europe's most dynamic airports in its category, with a 48.3% increase in passenger traffic in the first half of 2025 alone, totaling over 2.45 million travelers.

“The opening of ibis Styles Chișinău marks a defining moment in the evolution of tourism in the Republic of Moldova. Through this project, we are contributing to the creation of a new hub of economic and touristic appeal, offering guests a hospitality experience that meets international standards in a creative and inclusive space. We are proud to be part of a project with such a broad and forward-looking vision for the urban future of Chișinău,”