Latest news with #Baltics
Time of India
4 days ago
- Business
- Time of India
The week that was in international affairs: Trump's 'U-turn' on Putin; Estonia conducts HIMARS drill
AP file photo Welcome back to another edition of My Take 5, your weekly round-up of top international news. This week we are covering Trump's possible U-turn on Putin , Estonia and the Baltics get ready with HIMARS, EU unveils its 18th sanctions package, Israel attacks Syria, turmoil in Bangladesh, and a bonus about the singing chief rabbi of Ukraine: Trump U-turn on Putin?: Trump made statements on Putin that could be characterised as a big shift in his administration's approach to the war in Ukraine. Trump said that he was very disappointed in Putin, that the Russian leader would engage in pleasant conversation with him but then bomb Ukraine. He added that he thought a deal to end the war was on the cards at least four times in the last six months, but Putin did not come through. Simultaneously, Trump finally announced a new $10bn military aid package for Ukraine that would include additional Patriot air defence systems that Ukraine desperately needs amid Russia's heightened aerial attacks on Ukrainian towns and cities. The package, Trump said, would be fully paid for by US's European Nato allies that could see them send over their systems to Ukraine and then replace them with new American ones. Interestingly, Trump was also contemplating sending Ukraine Tomahawk cruise missiles. But that, however, is not going to be part of the current package. In fact, according to some reports, during Trump's latest conversation with Zelenskyy, he asked why Kyiv wasn't targeting Moscow. To which Zelenskyy reportedly responded that Ukraine could if it had the American weapons. Trump then also floated the idea of targeting St Petersburg. Additionally, Trump gave Putin a 50-day deadline after which he has threatened to slap 100% tariffs, both on Russian exports to US (which are not that much) and on those countries that buy Russian exports, including oil. The latter secondary sanctions are really significant and could seriously put an economic squeeze on Russia. After all, Moscow has managed to sustain this war because even though it has been largely cut off from the Western market, it continues to make billions by selling its oil and gas to other countries like China and India. But if those countries are slapped with 100% tariffs on their exports to the US, that will certainly deter them from buying Russian energy. Taken together, it seems that Trump is finally changing his view of Putin, and perhaps now realises that Moscow has no intention to end the war in Ukraine any time soon. And if China engages in military adventurism in the Indo-Pacific, especially against Taiwan, while the war in Europe continues, US military resources will be badly divided. Hence, the need to end the war in Ukraine quickly. And maybe, just maybe, Trump realises that the only way to do that is by increasing pressure on Moscow. Estonia conducts HIMARS drill: Estonia conducted its first live-fire HIMARS multiple rocket launch system drill following four months of training. Russia, predictably, accused the Baltic state of provocative actions and said that Moscow would defend its interests in the region. But all of this was started by Russia itself. In April, Moscow had accused Nato of escalating things along Russia's borders and warned that the Baltics and Poland would be the first to suffer in case of a wider conflict. Ironic, given what Russia has done in Ukraine over the last three years. The fact is Russia is already engaging in grey-zone tactics in the Baltics, and Estonia has been a prime target of Russian cyber security attacks – Tallinn fends off thousands of these every day. This is precisely why Estonia, Latvia and Lithuania are boosting their defence spending and taking security measures to thwart a possible Russian attack. The Baltic Defence Line's construction is already underway. The Baltic Nato members know that after Ukraine, if Russia is to test Nato's resolve, it will be here in the Baltics. And this is where China's plans also come in as mentioned in the previous segment. If Beijing decides to attack Taiwan for its own political reasons, it would logically want Russia to expand the war in Europe to divide Nato and American forces. And the Russians will most likely oblige by targeting the Baltics. Thus, Estonia, Latvia and Lithuania preparing for all eventualities by shoring up their military depth – through HIMARS and other systems – is understandable. EU unveils 18th sanctions package: The European bloc unveiled its 18th sanctions package against Russia over its war in Ukraine after Slovakia lifted its veto. Slovakia, which relies significantly on Russian energy, wanted written assurances on the planned phase-out of Russian gas. That said, the unveiled package is being described as the strongest yet, targeting Russian oil, Moscow's shadow fleet, Chinese banks helping Moscow evade sanctions and even those Russian entities indoctrinating Ukrainian children. Significantly, the package includes lowering the price cap on Russian oil from $60 to $47.6 per barrel to undercut Moscow's energy revenues that feed its war machinery. The package also targets for the first time a flag registry and Russian oil giant Rosneft's biggest Indian refinery. It also blocks tech exports used in Russian drones, and includes measures against 105 vessels of the Russian shadow fleet. These measures are certainly comprehensive. However, it remains to be seen if they will bring Moscow to the negotiating table. Given Russia's imperialist ideological motivations for the war, Moscow is riding a tiger and won't get off unless it is compelled to. And now Russia is also beholden to China and its strategic calculations. Therefore, EU must keep up the support for Ukraine. Israel attacks Syria: Israel struck Syrian forces in the southern Syrian city of Sweida and the Syrian defence ministry in Damascus after clashes broke out between Sweida's Druze community and Sunni Bedouin tribesmen. Israel, which has its own Druze population, says it was acting at the behest of the minority Druze community in Syria. Although there is some semblance of truce in Sweida at the time of writing, the situation remains volatile. The episode puts the new Syrian government, established after the ouster of Bashar al-Assad last December, in potential conflict with Tel Aviv. But honestly, Israel can't be militarily intervening in every internal matter of regional countries. Note that the US has not backed Israel's strikes on Syria this time. If Tel Aviv continues on this path, it could only mean one thing: that Netanyahu does not want to give up his war-time powers in Israel, and wants to be in a perpetual state of conflict. Turmoil in Bangladesh: Clashes took place in Bangladesh's Gopalganj between supporters of Awami League and security forces in which four people lost their lives. Gopalganj is the birthplace of Bangladesh's founder Sheikh Mujibur Rahman. The skirmishes began after a rally of the National Citizen Party (NCP), which had played a key role in the ouster of Sheikh Hasina last year. It's quite apparent that the NCP rally had been organised to provoke Awami supporters in Gopalganj. After all, elements of the current Bangladeshi interim government have been busy cleansing all state institutions of Awami supporters and sympathisers. This is bound to have a reaction. In fact, what the so-called student leaders of the interim government are doing is no different from what they accused the Hasina dispensation of carrying out. If the latter had developed autocratic tendencies in its final moments, how is targeting Awami supporters, who too are Bangladeshi citizens, any less autocratic? Plus, this hardly creates a conducive environment for elections scheduled for April next year. If things continue in the same vein, Bangladesh will simply be repeating its cycle of political violence and vendetta. And interim government chief, Muhammad Yunus, would have only sullied his reputation. Bonus: Finally, this week's bonus is about the Chief Rabbi of Ukraine, Moshe Reuven Azman, who has recorded a song for Trump, urging him to support Ukraine's defence against Russian aggression. Moshe Azman himself lost his son in the war. The video is some weeks old but still quite interesting. Follow the link below to check it out:
Yahoo
4 days ago
- Business
- Yahoo
Tele2 AB (TLTZF) Q2 2025 Earnings Call Highlights: Strong EBITDAaL Growth Amid Market Challenges
End User Service Revenue Growth: 2% in Q2, driven by strong growth in the Baltics and Sweden. Underlying EBITDAaL Growth: 15% in Q2, attributed to workforce reductions and cost savings. Equity Free Cash Flow: SEK 1.6 billion in Q2, following SEK 2 billion in Q1. CapEx-to-Sales Ratio: Increased from 11.5% in Q1 to 12.4% in Q2. Leverage: Remained unchanged at 2.2 times despite dividend payments. Sweden Business Revenue Growth: 4% in Q2, with growth across all main product lines. Baltics End User Service Revenue Growth: 7% in Q2, with a 20% growth in underlying EBITDAaL. Mobile Postpaid Net Additions: 10,000 RGUs in Q2. Fixed Broadband ASPU Growth: 2% due to price adjustments. Total Revenue Growth: 1% organically in Q2. Net Financial Items: Decreased year-on-year due to reduced interest rates. Economic Net Debt: SEK 24.7 billion at the end of Q2, reduced by SEK 1.5 billion compared to end of 2024. 2025 Guidance Update: Raised underlying EBITDAaL growth to slightly above 10% organic growth. Warning! GuruFocus has detected 4 Warning Signs with TGSGY. Release Date: July 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Tele2 AB (TLTZF) achieved a 15% growth in underlying EBITDAaL in Q2 2025, driven by workforce reductions and cost savings. The company reported a strong equity free cash flow of SEK1.6 billion in Q2, following SEK2 billion in Q1. Tele2 AB (TLTZF) raised its full-year EBITDAaL guidance to slightly above 10% organic growth. The company launched a new flexible TV and streaming portfolio in Sweden, which was well-received by customers. Tele2 AB (TLTZF) was named Europe's climate leader by Financial Times and Sweden's most sustainable company for the second year in a row. Negative Points End-user service revenue in Sweden was flat in Q2, impacted by the decommissioning of Boxer TV. The company anticipates Boxer revenue to be roughly SEK225 million below 2024, with a negative impact on EBITDAaL. Fixed broadband in Sweden saw a decline of 1,000 RGUs in Q2 due to aggressive competition in open fiber networks. The Swedish market faces macroeconomic headwinds and weak consumer confidence, which could impact future growth. Tele2 AB (TLTZF) expects around SEK500 million in restructuring costs for 2025 related to ongoing transformation efforts. Q & A Highlights Q: Can you provide more color on the underlying Swedish service revenue growth, excluding the impacts of Boxer and IFRS adjustments? A: Jean-Marc Harion, CEO, explained that the underlying Swedish service revenue growth is around 2.5% to 3% when stripping out the Boxer and IFRS impacts. Peter Landgren, CFO, added that the Boxer impact is roughly 2 percentage points, and the IFRS impact will lessen later in the year. Q: How much of the cost-cutting success is due to accelerating existing plans versus finding new efficiencies? A: Jean-Marc Harion, CEO, stated that the cost-cutting is primarily due to accelerating existing plans, particularly workforce reductions. They have reduced the workforce by 500 positions and are now focusing on specific areas for further efficiency improvements. Q: Can you update us on the progress of renegotiating the 350 contracts and the potential impact on costs? A: Jean-Marc Harion, CEO, mentioned that they have reopened almost half of the largest 350 contracts, focusing on the lowest hanging fruits. The renegotiations will continue to have a positive impact on costs over the next 12 to 18 months. Q: With strong EBITDAaL growth in H1, why is the full-year guidance only slightly above 10%? A: Peter Landgren, CFO, explained that while they are confident in the benefits from transformation activities, they remain cautious due to macroeconomic headwinds and potential reinvestments needed for growth, such as 5G rollout and marketing. Q: What are the plans for rejuvenating the top line, especially in the Swedish Consumer business? A: Jean-Marc Harion, CEO, and Petras Masiulis, CEO of Baltics, highlighted initiatives like the relaunch of the Frank brand, new flexible TV and streaming portfolios, and investments in 5G. They aim to reduce dependency on third-party channels and enhance direct customer interactions. Q: How is the B2B segment performing, and what drives its growth? A: Stefan Trampus, EVP of Tele2 B2B, noted that B2B has seen 16 consecutive quarters of growth, driven by mobile IoT, cloud PBX, and networking solutions. Growth is strong in the SME and public sectors, despite challenges in the micro segment due to economic conditions. Q: Can you comment on the impact of Swedish broadband regulation on Tele2? A: Jean-Marc Harion, CEO, stated that while regulation is moving in the right direction, it is not fast enough. They advocate for open access to single dwelling units at fair wholesale prices and are concerned about increasing access fees by landlord associations. Q: What is the outlook for IoT growth in the B2B segment? A: Stefan Trampus, EVP of Tele2 B2B, explained that IoT growth is expected to continue, supported by a strong market position and increasing connectivity. The growth rate may moderate as the base expands, but they remain optimistic about future prospects. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Russia Today
6 days ago
- Politics
- Russia Today
UK secretly paid YouTube influencers for propaganda
The UK Foreign Office gave millions of pounds to a media contractor to secretly shape public opinion in foreign countries, Declassified UK has reported. The agency, Zinc Network, is believed to have received nearly £10 million ($13 million) to recruit influencers across Europe. Zinc is a London-based company that pays YouTubers and internet personalities in Central and Eastern Europe and the Baltics to produce political content. While the company says it is committed to transparency, the creators it employs are bound by strict non-disclosure agreements not to disclose ties to the British government. Former employees have described the operation as 'state propaganda.' One told Declassified that the relationship between Zinc and the influencers was 'extremely exploitative.' Another claimed that Zinc had interfered in Slovakia's 2023 elections by targeting young voters with influencer content designed to boost turnout for Progressive Slovakia, a pro-European party. The vote was ultimately won by Robert Fico's Smer party, which has advocated maintaining friendly relations with Russia and draws support from older voters. Zinc had previously been exposed for running covert Muslim news platforms. In 2021, it was also reportedly looking to recruit comedians and YouTubers to run psyop campaigns in the Baltics to shift the opinions of Russian-speaking communities. Aside from the UK government, the company has also received millions in funding from the US, as well as from the Belgian government, according to public documents. The full scale of Zinc's operations is unclear as the Foreign Office has only partially disclosed its contracts with the company, despite repeatedly being ordered to do so by the UK's Information Commissioner. The UK government has defended the operation as a way to 'counter disinformation' and 'champion truth and democratic values.' Meanwhile, Russia's security services have recently accused several British institutions, including the British Council and Oxford Russia Fund, of running covert campaigns to destabilize Russian society and promote Western agendas.
Finextra
15-07-2025
- Business
- Finextra
Lithuanian fintech granted first DLT licence in Baltics
Axiology, a Lithuania-based tech firm operating in the digital assets space, has been granted a licence from the Bank of Lithuania to carry out digital bond issuance via the blockchain. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The licence, authorised under the EU's DLT Pilot Regime, is the first such one to be issued in the Baltics-Nordics region. It also makes Axiology only the second firm in Europe to receive such authorisation. As a result, it will be to ramp up its service providing digital bond issuance, trading and settlement to SMEs and retail investors in the region. According to a statement from Axiology, the firm uses a permissioned version of the XRP ledger as the backbone of its digital assets market infrastructure. 'Despite years of policy work, Europe's capital markets remain costly, fragmented, and inaccessible to smaller participants,' said Marius Jurgilas, Axiology's CEO. 'This licence allows us to operate the full capital market stack under a single, digital-native structure providing process synergies, cost savings and efficiency gains.' The licence award comes at a time when Lithuania looking to build on its status as one of Europe's most active fintech domiciles by amending its regulatory framework to lower the compliance burden for low-risk companies. According to Invest Lithuania, the country's investment promotuion agency, the new framework has been developed to be more in line with the EU's latest Anti-Money Laundering and Counter Terrorism Financing rules by enabling companies with lower-risk business models to apply a risk-based approach for simplified due diligence processes.
The Hill
10-07-2025
- Politics
- The Hill
Ukrainians are fighting Russia so US troops don't have to
The debate over Ukraine aid often frames the conflict as a choice between domestic American priorities and foreign assistance. But this framing fundamentally misunderstands what is at stake. Ukraine is a direct investment in American national security that could prevent U.S. troops from directly fighting Russian forces in the near future. Recent statements from Moscow make this calculation clear. Russian Deputy Foreign Minister Sergei Ryabkov declared in June that the Ukraine war cannot end until NATO 'pulls out' of the Baltic states. This demand represents a dramatic escalation from Russia's previous position, which focused solely on Ukraine's NATO aspirations. Now the Kremlin is demanding the abandonment of NATO allies who have been treaty-protected members since 2004. This escalation reveals Russia's true strategic objective: not just preventing Ukraine's NATO membership, but rolling back the alliance's existing commitments. The Baltic states — Estonia, Latvia and Lithuania — are full NATO members covered by Article Five, which states that an attack on one member constitutes an attack on all. Unlike Ukraine, any Russian aggression against these nations would legally require direct American military intervention. The strategic logic is clear: If Russia succeeds in Ukraine and then moves against the Baltics, American soldiers will be legally obligated to fight Russian forces directly. There would be no choice, no debate, no alternative. Supporting Ukraine today costs money and weapons. Fighting Russia tomorrow under Article Five would cost American lives. The current investment in Ukrainian defense represents perhaps the most cost-effective military expenditure in modern U.S. history. Critics might argue that Russia's Baltic demands are mere negotiating tactics. But this ignores the pattern of Russian aggression established over the past 16 years: Georgia in 2008, Crimea in 2014 and Ukraine in 2022. Each time, Western leaders assumed Moscow would be satisfied with its gains — each time, they were wrong. The difference now is that Russia's next logical target, the Baltics, cannot be abandoned without destroying NATO itself. The alliance's credibility rests on the principle that Article Five means something. If NATO retreats from the Baltics under Russian pressure, the alliance becomes meaningless, and America's security guarantees across the globe lose their deterrent effect. There is now a unique strategic opportunity. Ukraine has demonstrated remarkable resilience and military capability, effectively serving as a force multiplier for U.S. security interests. Ukrainian forces are doing the fighting that American troops might otherwise have to do later, against a Russian military that grows weaker with each passing month. The choice facing American policymakers is between stopping Russia in Ukraine or potentially fighting them in the Baltics under conditions far less favorable to U.S. security. Every dollar spent on Ukrainian defense today is an investment in preventing American casualties tomorrow. Every Ukrainian victory weakens Russia's capacity to threaten NATO members. Every month this conflict continues reduces the likelihood that American troops will face Russian forces in direct combat. The question isn't whether America can afford to support Ukraine. It's whether America can afford not to. Khusanboy Kotibjonov is a political science student at New York University.
