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  • Maglev train researchers may have solved ‘tunnel boom’ shock waves | Environment

    Maglev train researchers may have solved ‘tunnel boom’ shock waves | Environment

    Researchers hope they may have solved the “tunnel boom” problem as they prepare to roll out China’s latest prototype magnetic levitation train.

    The newest version of the maglev train is capable of travelling at 600km/h (about 370mph). However, the train’s engineers have wrestled with the problem of the shock waves that occur as the train exits the mouth of a tunnel.

    When a high-speed train enters an enclosed space such as a tunnel, air in front is compressed, like in a piston. The resulting fluctuations in air pressure coalesce at the tunnel mouth, generating low-frequency shock waves. These are colloquially known as a “tunnel boom” – a related, albeit different phenomenon to the “sonic boom” heard as aircraft pass the speed of sound. Tunnel booms pose serious challenges to operational safety, as the shock waves can disturb humans and animals nearby, as well as causing structural damage.

    Now, however, researchers have discovered that placing innovative soundproofing buffers at tunnel mouths can reduce shock waves by up to 96%. This promises improvements in operational safety, noise pollution and passenger comfort, as well as safeguarding animals in the vicinity of future lines.

    This was already a well documented problem for conventional high-speed trains, which travel at speeds of up to 350km/h (217mph), but it worsens significantly for trains travelling at even higher speeds because the strength of the shock wave increases rapidly and the critical length that gives rise to a tunnel boom drops off quickly. For example, a train travelling at 600km/h will lead to a boom in a tunnel just 2km (1.2 miles) long, while for conventional high-speed trains this happens only in tunnels which are 6km or longer.

    The porous structure of the new 100-metre long buffers, combined with porous coatings on the tunnel body, allow the trapped air to escape before the train reaches the tunnel mouth, suppressing the boom in the same way as a silencer fitted to a firearm.

    Magnetic levitation refers to the use of magnetic force to suspend a train above a guideway or rail, sometimes with a height of only 10mm, by either electromagnetic or electrodynamic suspension. The train is then propelled using other electromagnets. While conventional high-speed trains are ultimately limited in speed due to increased wear and tear of wheels against the track, the separation of track and train means that maglevs are not subject to the same frictional forces.

    Electromagnetic suspension (EMS) has the train hugging a single steel rail with a U-shaped underside. When electromagnets positioned in the U-shape underneath the rail are switched on, the train is levitated by the resultant electromagnetic forces. With electrodynamic suspension (EDS), the train sits in a U-shaped guideway, with superconducting coils embedded in guideway and train. When the power supply is switched on, magnetic poles are induced in the coils, leading to a combination of repulsive and attractive forces which enable the train to levitate.

    High-speed maglev trains made their debut in 2004 in China, running between Pudong airport and the outskirts of Shanghai at 460km/h (286mph), a speed record that still holds for rail vehicles in regular commercial service. Built using German ‘Transrapid’ technology, this service caters primarily to foreign travellers as local people prefer the much cheaper, albeit slower, metro.

    However, this initial hype was soon eclipsed, as subsequent development of China’s rail network focused entirely on conventional high-speed rail. The national network is now the world’s largest in length at 48,000km (30,000 miles), with more lines under construction.

    But maglev trains are now making a comeback under the state-owned manufacturer CRRC, which launched the new model in 2021. There is no mechanical noise, passengers describing the quiet hum of electromagnets and a ride smoother than a conventional train.

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    Although no lines have yet been formally planned, it is widely expected that a future line will connect the capital, Beijing, with cosmopolitan Shanghai, reducing journey times from 4.5 hours to 2.5 hours, about the duration of a domestic flight between the two cities.

    In China, the cost of a high-speed rail ticket is cheaper than air travel (¥600 compared with ¥1,200), unlike in many other countries. Flights emit on average seven times more CO2 than high-speed rail by distance travelled, representing a big potential carbon saving.

    China is not the only place where long-distance high-speed maglevs are on the horizon. Japan also has its hopes pinned on the Chuo Shinkansen, which will link its two biggest cities of Tokyo and Osaka via Nagoya, cutting through the heart of the country. The Tokaido Shinkansen, a conventional high-speed rail line, does this journey in 2.5 hours, but it is hoped that the new maglev line travelling at 505km/h (314mph) will reduce this to just 67 minutes. It was originally scheduled to begin partial service in 2027, but inevitable delays have encumbered the project, with a new opening date uncertain.

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  • South Africa ‘fear’ nothing as Australia seek WTC revenge | Cricket News

    South Africa ‘fear’ nothing as Australia seek WTC revenge | Cricket News

    South Africa’s leading paceman Kagiso Rabada says it is time to move on from the euphoria of beating Australia in the World Test Championship final, but insists the side have “nothing to fear” now following their belated major trophy success.

    Rabada will lead South Africa’s attack as they take on Australia in three Twenty20 clashes and three one-day internationals starting in Darwin on Sunday.

    “I think it was special, and I’ve done so many interviews on that since,” Rabada said of South Africa’s victory over Australia at Lord’s in June.

    “I think it’s time to move on. I don’t think we’ll forget about that ever as a team, and South Africa won’t ever [forget], but time to move on now,” he told a news conference on Thursday.

    The five-wicket win in the WTC final followed several frustrating near misses for South Africa in limited-overs World Cups.

    “It was kind of like a relief. But the show moves on, and moving toward the T20 World Cup, I guess the approach will be a bit different.

    “Now, you know, there’s no fear of anything.”

    South Africa’s Kagiso Rabada lifts the ICC Test Championship mace on the podium with teammates after winning the final [Andrew Boyers/Reuters]

    Rabada is relishing a reprisal of the rivalry between Australia and South Africa.

    “It’s always some hard cricket being played, some good cricket,” he said. “Whenever we play Australia, I always feel like they get the best out of us, because they’re sort of in our faces. And I guess we like that.”

    Rababa, who turned 30 in May, has not played since the WTC final in London.

    “Thankfully, I’ve had quite a long break, so that’s been awesome. Maintenance work consistently has to be done because the volume of cricket is quite a bit.”

    The Australia tour comes ahead of next year’s T20 World Cup in India and Sri Lanka, and the 2027 World Cup in Southern Africa, and South Africa hope the experience will benefit the young players in their squad.

    “For me, that’s extremely exciting to see them raring to go. It’s just about trying to see where we’re at as a team, moving into almost like another generation,” Rabada added.

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  • Relationship between cognitive impairment and quality of life in syste

    Relationship between cognitive impairment and quality of life in syste

    Introduction

    Systemic lupus erythematosus (SLE) is a multisystem autoimmune disease that frequently involves neuropsychiatric manifestations, including cognitive impairment – one of the most common neuropsychiatric syndromes affecting attention, memory, executive function and other cognitive domains.1,2 These deficits significantly impair patients’ QoL and social functioning.3 The pathogenesis of SLE-related cognitive dysfunction remains unclear but may involve multiple mechanisms: neuroinflammation, blood-brain barrier disruption allowing autoantibody penetration, ischemia, and microvascular disease.4–6 These processes can lead to structural and functional CNS abnormalities.7,8 Notably, cognitive impairment often occurs even without overt neuropsychiatric symptoms.9 However, emerging evidence suggests early intervention may prevent or reverse cognitive decline.10,11 Therefore, Effective diagnostic tools and therapeutic strategies can mitigate neuroinflammation-induced structural/functional damage, thereby enhancing cognitive function and QoL in patients.

    Currently, there is a lack of sensitive and specific diagnostic tests for SLE-associated cognitive impairment, and neuroimaging techniques cannot fully elucidate its underlying mechanisms. The relationships between cognitive impairment manifestations, neuroimaging findings, and etiopathological processes remain unclear. Additionally, few studies have directly examined the impact of cognitive impairment on SLE patients’ QoL, with most focusing on isolated mechanisms. Multimodal MRI provides a comprehensive assessment by detecting brain metabolite abnormalities, microstructural and volumetric changes in gray/white matter (GM/WM), and functional alterations. This approach helps clarify the interplay between brain structure, function, metabolism, and cognitive deficits in SLE.12,13 This paper reviews the relationship between brain structure, function, and metabolism with cognitive impairment and QoL in SLE patients from a multimodal MRI perspective. It further summarizes the associations between various neuroimaging features and cognitive function as well as QoL in SLE patients. The aim is to provide recommendations for successfully assessing cognitive impairment and its progression in SLE using advanced quantitative neuroimaging techniques, as well as suggestions for improving QoL. Furthermore, non-pharmacological interventions targeting these mechanisms are discussed, underscoring the urgent need for biomarkers to enable early detection, treatment, and prevention-ultimately improving patient QoL and reducing socioeconomic burdens.

    Cognitive Domains That May Be Involved in SLE Cognitive Impairment

    Retrospective studies involving over 800 SLE patients demonstrated that severe cognitive impairment doubled unemployment rates compared to cognitively intact patients, with cognitive symptoms frequently reported as among the most distressing QoL concerns.14,15 Mendelsohn et al’s systematic review further confirmed the association between SLE-related cognitive impairment and reduced QoL/social participation.16 Understanding affected cognitive domains is therefore critical for prevention and treatment. Meta-analyses reveal attention and delayed verbal memory as the most severely impaired functions in SLE patients.17 Even asymptomatic patients frequently show broad deficits across multiple domains including verbal fluency, attention, visuospatial ability, memory, and executive functioning.18 Common impairments include: delayed recall, abstract reasoning, verbal fluency, memory, attention, executive function.19–21 Notably, higher SLE Disease Activity Index (SLEDAI) scores correlate with greater memory impairment, suggesting disease activity influences cognitive severity.22 Cross-sectional data show Montreal Cognitive Assessment (MoCA) scores associate with visuospatial/abstract deficits, while Mini-Mental State Examination (MMSE) reveals impaired verbal/spatial abilities versus controls.23 These findings underscore that disease stabilization is essential for preserving cognitive function and improving QoL.

    Current Status of Conventional MRI in SLE Cognitive Impairment

    Conventional MRI in SLE-related cognitive impairment primarily reveals T2 WM hyperintensities, microhemorrhages, and cerebral atrophy.24 Studies demonstrate reduced hippocampal volumes in cognitively impaired SLE patients compared to those without cognitive deficits.15 While conventional MRI effectively detects CNS lesions, particularly acute focal neuropsychiatric manifestations, its utility is limited for diffuse presentations. It cannot accurately quantify white matter damage or characterize underlying pathology, restricting its ability to correlate imaging findings with neuropsychiatric symptoms.25 Ultimately, conventional MRI fails to establish meaningful connections between morphological changes, clinical manifestations, disease progression, or the pathological mechanisms of SLE-associated cognitive impairment.

    Multimodal MRI in SLE Cognitive Impairment

    Conventional MRI often fails to detect key pathological mechanisms in SLE-related cognitive impairment, including perfusion abnormalities, neuronal dysfunction, axonal damage, and microstructural alterations caused by vasculitis, immune complex deposition, microglial activation, cytokine-driven inflammation, or thrombosis.26 Multimodal neuroimaging overcomes these limitations by integrating complementary data: Resting-state functional magnetic resonance (RS-fMR) captures neural activity, while diffusion tensor imaging (DTI) quantifies microstructural damage. No single modality fully elucidates structural, functional, and metabolic changes. However, combining these techniques enables a holistic analysis of brain organization, cognition, and behavior, revealing novel insights through image alignment and data fusion. Advancements in neuroimaging have positioned multimodal approaches as a transformative tool for characterizing brain pathology. This integration improves data consistency, predictive accuracy, and the identification of SLE-associated cognitive and emotional biomarkers. Such comprehensive profiling supports early diagnosis, personalized interventions, and longitudinal monitoring, ultimately enhancing patient outcomes and QoL.

    Exploring the Relationship Between Cognitive Impairment and QoL in SLE Based on Structural Brain Changes

    Structural alterations are partially causally linked to functional changes in SLE.27 Structural MRI reveals that whole-brain atrophy, along with reduced corpus callosum and hippocampal volumes, correlates with cognitive impairment, suggesting progressive cortical thinning across SLE stages.28 Investigating WM abnormalities may improve understanding of early neuronal pathogenesis in SLE-related cognitive dysfunction. Neuroimaging studies indicate disrupted WM connectivity in SLE, implicating WM damage in disease progression and cognitive deficits.29 Thus, examining WM abnormalities could elucidate mechanisms of SLE-induced cognitive impairment. DTI noninvasively quantifies cerebral WM microstructure using metrics like mean diffusivity (MD) and fractional anisotropy (FA). This technique effectively identifies SLE-associated structural changes relevant to cognitive assessment. DTI detects microstructural tissue alterations linked to neuropsychiatric symptoms, underscoring its utility in neuropsychiatric lupus imaging.30

    DTI has demonstrated microstructural abnormalities in neuropsychiatric lupus, particularly through altered FA, MD, and radial diffusivity (RD) values reflecting neuroinflammation.31 DTI studies consistently demonstrate widespread white matter microstructural alterations in SLE patients, particularly involving the corpus callosum, anterior internal capsule, uncinate fasciculus, and left cingulate gyrus, with these changes emerging early in disease course and showing significant associations with cognitive dysfunction.32–34 Structural neuroimaging reveals both gray matter volume reduction and white matter integrity loss in cognitively impaired SLE patients, with these changes directly correlating with poorer cognitive performance and reduced QoL.35,36 Nystedt et al found that decreased FA in the corpus callosum correlated with disease progression, while psychomotor speed showed weak association with right hippocampal FA, suggesting neuronal damage as a potential mechanism for cognitive impairment.37 Correa et al reported significantly reduced FA alongside increased RD and MD values in SLE patients with cognitive impairment compared to controls, particularly noting external capsule FA reductions associated with white matter abnormalities.38 The diffuse white matter changes extend beyond memory-related regions to broader cognitive networks, with impaired tracts connecting key structures like the hippocampus, corpus callosum, and cingulate gyrus that are critical for memory, language, attention, and emotional processing, potentially explaining SLE-related cognitive deficits. For instance, visuospatial processing impairments stemming from these abnormalities can significantly impact patients’ independence in daily activities and transportation use. Investigating white matter alterations in SLE patients with cognitive impairment is therefore crucial for both understanding disease pathophysiology and developing interventions to improve QoL.

    Exploring the Relationship Between Cognitive Impairment and QoL in SLE Based on Functional Brain Changes

    RS-fMRI is a blood oxygen level-dependent (BOLD) technique that analyzes regional brain activity through deoxyhemoglobin fluctuations, reflecting spontaneous neuronal activity during rest.39 This method detects abnormal functional connectivity prior to structural changes or clinical symptom onset.40 Resting-state network alterations serve as reliable indicators of cognitive and brain function, offering valuable insights into neural activity changes associated with brain disorders.41,42

    Functional Changes in Localized Brain Regions

    Local brain activity reflects the intrinsic properties of the brain tissue activity and is associated with cognitive processes.43 It is well known that there is a relationship between the frontal lobes and cognitive function. The prefrontal region is the center of frontal control of cognitive functions and mediates is a variety of cognitive functions, including motivation, task setting, monitoring, and behavioral/emotional regulation.44 Neuroimaging studies, including rs-fMRI, have identified consistent functional abnormalities in the frontal lobes of SLE patients, such as decreased functional connectivity between bilateral frontal lobes and subcortical structures,45 with these impairments significantly correlating with memory deficits,46 and reduced QoL.28 Moreover, inflammatory activity in SLE may exacerbate frontal lobe abnormalities, leading to cognitive symptoms and further diminishing QoL.47 Therefore, the observation of damage to the frontal regions in SLE cognitive impairment may affect social interactions in patients, resulting from an inability to coordinate their communication with others and leading to reduced social participation and well-being, and ultimately resulting in a lower QoL.

    The amplitude of low-frequency fluctuation (ALFF) measures spontaneous neuronal activity at rest. Dynamic ALFF (dALFF) quantifies temporal variability in local brain activity across voxels by analyzing ALFF changes over time,48 while static ALFF (sALFF) represents its time-averaged counterpart. In SLE with cognitive impairment, increased sALFF was observed in the right parahippocampal gyrus (compared to SLE patients without impairment) and the left caudate nucleus (compared to healthy controls), indicating disrupted functional connectivity strength and stability.49 Conversely, dALFF was elevated in the right parahippocampal gyrus in SLE cognitive impairment versus controls, suggesting altered dynamic stability of local activity.49 These findings imply that abnormal sALFF and dALFF reflect distinct neuropathological pathways affecting cognitive function in SLE. The caudate nucleus plays a key role in cognitive control by regulating motor patterns and target selection.50 The parahippocampal gyrus serves as the primary cortical input to the hippocampus and is crucial for memory encoding, retrieval, and visuospatial processing.51 Increased activity in these regions may contribute to cognitive dysfunction in SLE.

    Connectivity and Functional Changes in Brain Networks

    Coordinated interactions between brain regions are crucial for normal cognition and behavior.52 Disruptions in these networks due to neuropsychiatric disorders can lead to cognitive deficits and neurological sequelae.53 Studying neuronal activity connections may reveal underlying pathophysiological mechanisms. Functional connectivity density (FCD) reflects brain network integration. Zhang et al found reduced FCD-ALFF coupling in the left superior parietal gyrus, postcentral cortex, and bilateral precuneus in SLE patients with cognitive impairment, demonstrating how these combined metrics can synergistically assess brain network disruptions in SLE-related cognitive dysfunction.54

    The default mode network (DMN) is a set of functionally interconnected brain regions exhibiting high metabolic activity during rest. It serves as the primary hub for resting-state functional connectivity and supports higher cognitive functions including emotional processing, episodic memory retrieval, and self-referential thinking.55 Key DMN regions comprise the medial prefrontal cortex, posterior cingulate cortex/precuneus, medial temporal lobe, and the hippocampus. The DMN is implicated in the neuropathology of various neuropsychiatric disorders, particularly in SLE-related brain dysfunctions. Studies reveal that SLE patients exhibit DMN impairments across functional, structural, and perfusion domains.56–58 Given the DMN’s extensive structural and functional connectivity throughout the brain, its structural damage has been proposed as a underlying cause of cognitive deficits in SLE.59–61 Therefore, cognitive impairments likely stem from disrupted connectivity across distributed brain networks rather than isolated regional abnormalities in SLE. These functional disturbances correlate with poorer cognitive performance and reduced QoL by compromising information processing efficiency.

    Studies demonstrate that SLE patients exhibit cognitive dysfunction, as evidenced by lower MoCA scores compared to controls.62 Neuroimaging findings reveal reduced activation in memory-related regions (bilateral caudate nucleus/insula and hippocampus/parahippocampal gyrus) during memory tasks,62 along with decreased FCD and ALFF values in the posterior cingulate gyrus, precuneus, superior parietal gyrus, and hippocampus-parahippocampal regions.54 These functional alterations correlate with cognitive test scores, suggesting hippocampal-parahippocampal dysfunction plays a key role in SLE-related cognitive impairment.63 The observed changes in DMN connectivity further characterize the neural basis of cognitive deficits in SLE.

    Exploring the Relationship Between Cognitive Impairment and QoL in SLE Based on Brain Metabolic Changes

    Metabolic alterations can precede structural brain lesions. Diffusion-weighted magnetic resonance spectroscopy (DW-MRS) measures metabolite concentrations in glial cells and neuronal axons, revealing specific biochemical properties of brain tissue and detecting early neuronal dysfunction. Therefore, DW-MRS has been widely used in studies related to SLE.64,65 Studies indicate that abnormal metabolite ratios detected by MRS, particularly choline/creatine (Cho/Cr), may serve as early biomarkers of cognitive impairment in SLE.64–66 Choline is essential for myelin formation and serves as a biomarker for myelin turnover, with its levels correlating with disease progression and cognitive performance.67 Progressive myelin damage occurs during SLE progression, and the correlation between Cho/Cr ratios and cognitive scores suggests this may represent the initial neurological damage leading to cognitive dysfunction.68,69 These observations support the hypothesis that myelin damage may underlie the earliest cognitive impairment in SLE. Therefore, researchers have suggested that myelin damage may underlie the earliest appearance of cognitive impairment in SLE.

    Acetylaspartate (NAA), a key neuronal viability marker detectable by MRS, shows reduced levels in SLE patients with CNS involvement.70,71 These metabolic alterations provide valuable insights into early neural damage and cognitive impairment pathophysiology in SLE. However, the direct correlation between such metabolic changes and QoL remains unclear. While DW-MRS and metabolite analyses elucidate mechanistic aspects of SLE-related cognitive dysfunction, their predictive value for QoL assessment appears limited. This highlights the need for future multimodal studies integrating imaging with clinical variables to better understand how metabolic and microstructural changes collectively impact QoL in SLE patients.

    Other Neuroimaging Changes

    Dynamic contrast-enhanced MRI (DCE-MRI) quantifies contrast agent extravasation into brain parenchyma, measuring blood-brain barrier (BBB) leakage rates at a voxel-wise level. Research demonstrates that hippocampal BBB disruption, as detected by DCE-MRI, is significantly associated with cognitive impairment in SLE patients, particularly affecting working memory, sustained attention, and spatial functioning.72 Hanly et al further linked these cognitive deficits to BBB leakage in SLE, suggesting that permeability allows inflammatory mediators or autoantibodies to infiltrate the CNS, potentially inducing neuronal injury.73 Such BBB dysfunction drives neuroinflammation and neuronal damage, exacerbating cognitive decline and reducing QoL.74

    Magnetization transfer imaging (MTI) exploits the interaction between free and bound water protons, leveraging differences in proton mobility across macromolecules to generate contrast. This technique enables quantitative assessment of brain damage in various pathologies. Early studies suggest MTI is sensitive to mild brain injury and may serve as a prognostic marker for cognitive dysfunction.75 In SLE, MTI detects reduced magnetization transfer ratios in patients with cognitive impairment, reflecting demyelination and axonal damage that correlate with cognitive deficits and diminished QoL.76 Additionally, MTI shows promise in monitoring disease activity and therapeutic responses in SLE-related neuropsychiatric disorders.77

    Arterial spin labeling (ASL) is a non-contrast perfusion imaging technique that quantifies cerebral blood flow (CBF) using magnetically labeled arterial water protons. This method enables assessment of cerebral perfusion abnormalities in various neurological and psychiatric conditions. Existing evidence suggests CBF may serve as a biomarker for early cognitive impairment.78 In SLE, ASL could help identify cerebral perfusion abnormalities preceding cognitive dysfunction, potentially revealing pathogenic mechanisms and enabling early diagnostic intervention.

    The pathophysiology of cognitive impairment in SLE is multifactorial, involving immune dysregulation, vascular pathology, neurotransmitter dysfunction, and other mechanisms. Given this complexity, single neuroimaging modalities often fail to fully capture the underlying pathological changes. Multimodal neuroimaging combining structural MRI, functional MRI, and diffusion tensor imaging reveals structural abnormalities, functional connectivity alterations, neural activity changes, and metabolic disturbances in systemic lupus erythematosus patients. This approach enhances diagnostic accuracy and may detect subclinical abnormalities before overt cognitive symptoms emerge, facilitating early intervention to mitigate disease impact. The literature reports that multimodal MRI, integrating structural, functional, and perfusion parameters, combined with machine learning, can effectively predict cognitive function.79 The study emphasizes that the combination of machine learning and multimodal MRI provides new perspectives for early identification and mechanistic research of CD in SLE patients. Additionally, multimodal neuroimaging aids in elucidating the pathophysiological mechanisms of SLE-related cognitive impairment, guiding personalized treatment strategies, rehabilitation programs, and psychosocial support to improve patient outcomes. Longitudinal imaging before and after treatment allows clinicians to monitor structural, functional, and metabolic recovery, optimizing therapeutic adjustments for faster cognitive restoration.

    Despite its advantages, multimodal neuroimaging faces several challenges. In DTI, eddy currents induced by rapid gradient switching can distort white matter tractography, while magnetic field inhomogeneities further compromise measurement reliability. The lack of standardized imaging protocols across institutions limits comparability of data, and semi-quantitative metrics often fail to reflect subtle microstructural changes with sufficient reproducibility. Post-processing algorithms, reliant on oversimplified models, may also introduce biases, affecting data validity.

    Potential for Non-Pharmacological Interventions in Improving the QoL in SLE Patients with Cognitive Impairment

    Enhanced QoL is both a key outcome of effective disease management and a critical measure in cognitive function research.80 With QoL now recognized as a primary endpoint in SLE management, achieving timely, effective, and safe QoL improvement has become essential.81 Unlike the progressive cognitive decline seen in neurodegenerative diseases, SLE-related cognitive impairment may fluctuate, with potential for improvement or stabilization.10,82,83 This suggests the condition may be reversible or controllable through proper disease activity management and prevention of cumulative damage. Ceccarelli et al’s 10-year longitudinal study found 50% of SLE patients showed cognitive and QoL improvements, with only 10% experiencing deterioration,10 demonstrating that appropriate disease management can mitigate SLE-related cognitive deficits. These findings underscore the importance of preventing disease flares and chronic impairment development. Additional studies indicate memory loss may also be stabilized or reversed, highlighting the need for effective prevention and intervention strategies.84

    First, strengthening primary care teams is essential for consistent and effective patient management through interventions like frequent follow-ups, personalized services, and long-term prescriptions. Memory and attention impairments can lead to forgetfulness and reduced learning capacity, negatively impacting self-confidence, self-care, and treatment adherence.85,86 Thus, effective disease management during follow-up is critical. Second, EULAR guidelines highlight physical activity, exercise, and training as key non-pharmacological interventions for SLE, indirectly benefiting cognition by reducing fatigue and improving overall health.87 Community-based recreational and exercise programs can enhance mood, mobility, social engagement, and support. Regular exercise improves cognitive function by enhancing vascular physiology and neurovascular coupling.88 Conversely, inadequate exercise and social support may worsen physical and psychological stress, reducing QoL.89 Additionally, cognitive training enhances executive function, memory, problem-solving, and daily living skills, improving QoL.90,91 Lifestyle management through cognitive training is a cost-effective approach to mitigating cognitive impairment’s impact on well-being.92

    Sleep deprivation is well-established to impair QoL and cognitive function, while adequate sleep supports memory consolidation.93 Napping demonstrates significant benefits for cognitive perception, learning abilities, motor skills, and procedural memory,94 with specific improvements in language processing, visuospatial abilities, and decision-making.95 These findings highlight the importance of sleep management in maintaining patient QoL during follow-up care. Growing evidence also supports dietary interventions for cognitive improvement in neurological disorders like multiple sclerosis and Alzheimer’s disease,96 emphasizing the need to incorporate cognitive rehabilitation strategies into the daily routines of SLE patients with cognitive impairment.

    In summary, the management of chronic diseases like SLE with cognitive impairment requires balancing effective treatment with minimizing drug toxicity, while exploring safer therapeutic approaches. Acupuncture has emerged as a valuable complementary therapy due to its safety, efficacy, and lack of adverse effects.97 Evidence suggests acupuncture may improve cognitive symptoms by enhancing cerebral blood flow, preserving blood-brain barrier integrity, promoting glucose metabolism, and protecting white matter structure.98 However, neuroimaging research on SLE-related cognitive impairment remains preliminary, and acupuncture’s role specifically in SLE cognitive dysfunction is underexplored. This gap highlights the urgent need for further investigation to develop effective interventions. Currently, evidence supporting non-pharmacological approaches is limited. More rigorous basic and clinical studies are warranted to validate their therapeutic potential.

    Conclusion

    Multimodal MRI approaches, combining structural, functional, and perfusion metrics, have shown promise in predicting cognitive function and QoL in SLE patients. These findings underscore the value of multimodal neuroimaging in elucidating the complex interplay between brain abnormalities, cognitive dysfunction, and QoL in SLE. The mechanisms of cognitive impairment in SLE are complex and likely multifactorial, requiring further large-scale studies to elucidate them. Such research could facilitate timely, personalized treatment and significantly improve patients’ QoL. This review underscores the need for future clinical and research efforts to refine diagnostic and follow-up strategies for SLE-related cognitive impairment, enabling early detection and tailored interventions to optimize neurodevelopment, mental status, and long-term prognosis.

    Data Sharing Statement

    The data on which the review is based were accessed from a repository and are available for downloading through the following link: PubMed.

    Author Contributions

    All authors made a significant contribution to the work reported, whether that is in the conception, study design, execution, acquisition of data, analysis and interpretation, or in all these areas; took part in drafting, revising or critically reviewing the article; gave final approval of the version to be published; have agreed on the journal to which the article has been submitted; and agree to be accountable for all aspects of the work.

    Funding

    The funding come from Science and Technology Research Project of the Education Commission of Chongqing City (KJQN202512860).

    Disclosure

    The authors declare no conflicts of interest in this work.

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    62. Zhu CM, Ma Y, Xie L, et al. Spatial Working Memory Impairment in Patients with Non-neuropsychiatric Systemic Lupus Erythematosus: a Blood-oxygen-level Dependent Functional Magnetic Resonance Imaging Study. J RHEUMATOL. 2017;44(2):201–208. doi:10.3899/jrheum.160290

    63. Kozora E, Brown MS, Filley CM, et al. Memory impairment associated with neurometabolic abnormalities of the hippocampus in patients with non-neuropsychiatric systemic lupus erythematosus. LUPUS. 2011;20(6):598–606. doi:10.1177/0961203310392425

    64. Zimny A, Szmyrka-Kaczmarek M, Szewczyk P, et al. In vivo evaluation of brain damage in the course of systemic lupus erythematosus using magnetic resonance spectroscopy, perfusion-weighted and diffusion-tensor imaging. LUPUS. 2014;23(1):10–19. doi:10.1177/0961203313511556

    65. Kozora E, Arciniegas DB, Duggan E, West S, Brown MS, Filley CM. White Matter Abnormalities and Working Memory Impairment in Systemic Lupus Erythematosus. COGN BEHAV NEUROL. 2013;26(2):63–72. doi:10.1097/WNN.0b013e31829d5c74

    66. Yuan Y, Quan T, Song Y, et al. Noise-Immune Extreme Ensemble Learning for Early Diagnosis of Neuropsychiatric Systemic Lupus Erythematosus. IEEE J Biomed Health Inform. 2022;26(7):3495–3506. doi:10.1109/JBHI.2022.3164937

    67. Zhang Z, Wang Y, Shen Z, et al. The Neurochemical and Microstructural Changes in the Brain of Systemic Lupus Erythematosus Patients: a Multimodal MRI Study. SCI REP-UK. 2016;6(1):19026. doi:10.1038/srep19026

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    69. Filley CM, Kozora E, Brown MS, et al. White matter microstructure and cognition in non-neuropsychiatric systemic lupus erythematosus. COGN BEHAV NEUROL. 2009;22(1):38–44. doi:10.1097/WNN.0b013e318190d174

    70. Lin Y, Yao J, Chen Y, et al. Hippocampal neurochemical changes in senescent mice induced with chronic injection of D-galactose and NaNO(2): an in vitro high-resolution NMR spectroscopy study at 9.4T. PLoS One. 2014;9(2):e88562. doi:10.1371/journal.pone.0088562

    71. Sarbu N, Bargalló N, Cervera R. Advanced and Conventional Magnetic Resonance Imaging in Neuropsychiatric Lupus. F1000Res. 2015;4:162. doi:10.12688/f1000research.6522.2

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    74. Meng F, Yang Y, Jin G. Research Progress on MRI for White Matter Hyperintensity of Presumed Vascular Origin and Cognitive Impairment. Front Neurol. 2022;13:865920. doi:10.3389/fneur.2022.865920

    75. Gudi V, Grieb P, Linker RA, et al. CDP-choline to promote remyelination in multiple sclerosis: the need for a clinical trial. Neural Regen Res. 2023;18(12):2599–2605. doi:10.4103/1673-5374.373671

    76. Wang X, Huang L, Guo W, et al. Cerebral Microstructural and Microvascular Changes in Non-Neuropsychiatric Systemic Lupus Erythematosus: a Study Using Diffusion Kurtosis Imaging and 3D Pseudo-Continuous Arterial Spin Labeling. J Inflamm Res. 2023;16:5465–5475. doi:10.2147/JIR.S429521

    77. Tay SH, Stephenson MC, Allameen NA, et al. Combining multimodal magnetic resonance brain imaging and machine learning to unravel neurocognitive function in non-neuropsychiatric systemic lupus erythematosus. Rheumatology. 2024;63(2):414–422. doi:10.1093/rheumatology/kead221

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  • Remarks by DG ISSI Ambassador Sohail Mahmood at Special Roundtable “Pakistan and ASEAN: Partners in Peace, Progress, and Regional Prosperity”

    Remarks by DG ISSI Ambassador Sohail Mahmood at Special Roundtable “Pakistan and ASEAN: Partners in Peace, Progress, and Regional Prosperity”

    Remarks by DG ISSI Ambassador Sohail Mahmood at Special Roundtable
    “Pakistan and ASEAN: Partners in Peace, Progress, and Regional Prosperity”
    ISSI, 7 August 2025

    Let me begin by warmly welcoming everyone to the ISSI for this special Round Table to commemorate the 58th ASEAN Day. This celebration is not only an opportunity to reflect on ASEAN’s remarkable journey but also an occasion to reaffirm Pakistan’s commitment to building a deeper, mutually-beneficial partnership with this dynamic regional bloc. The theme for this session — ‘Pakistan and ASEAN: Partners in Peace, Progress, and Regional Prosperity’ — aptly encapsulates our shared aspirations and priorities.

    The ISSI is privileged to organize this event in close collaboration with the Ministry of Foreign Affairs and the ASEAN Committee in Islamabad (ACI). At the outset, I would like to express our most sincere gratitude to His Excellency Dr. Kao Kim Hourn, Secretary-General of ASEAN, for graciously sending his video message specially recorded for this occasion. His thoughtful words testify to ASEAN’s enduring commitment to its partnership with Pakistan and add immense value to our proceedings today.

    We are delighted to have Ambassador Imran Ahmed Siddiqui, Additional Foreign Secretary (Asia-Pacific), as the Chief Guest. His proactive leadership has been pivotal in reinforcing efforts for the expansion and upgradation of the Pakistan-ASEAN relationship in multiple dimensions.

    I would also like to convey our thanks to His Excellency Wunna Han, Ambassador of the Republic of the Union of Myanmar, and Acting Chair of ACI, for his valuable role in the successful organization of this important Dialogue. His close coordination with both the ISSI and the ASEAN Secretariat has been instrumental in ensuring seamless and timely completion of the preparatory process.

    I also wish to thank all the ASEAN Heads of Mission in Islamabad for their valuable contributions to the strengthening of ASEAN–Pakistan relations and for supporting our collaborative initiatives at the ISSI.

    It is also an immense pleasure to welcome the Heads of Mission from Pakistan’s Embassies in ASEAN capitals, joining us virtually. Their efforts in deepening and expanding Pakistan’s political, economic, and cultural links with ASEAN members are critical to sustaining the momentum of this relationship. The Institute is proud to serve as the platform for bringing together the scholars, practitioners, business leaders, and other stakeholders to deliberate on the future prospects of this vital partnership.

    Distinguished participants,

    Every year on 8 August, ASEAN member states reaffirm their collective commitment to “One Vision, One Identity, One Community.” Today, ASEAN stands as a powerful example both of imagination and human endeavor, rightly termed as the ‘ASEAN miracle.’ With a combined population of over 690 million and a GDP exceeding $ 4.2 trillion, ASEAN has emerged as the fifth-largest economy in the world and is on track to become the fourth-largest by 2050. Further, ASEAN is the leading destination of foreign direct investment and the most successful regional cooperation initiative in the entire developing world.

    It is remarkable that despite headwinds caused by global economic slowdowns, climate challenges, geo-strategic tensions, and major-power rivalries, ASEAN has sustained robust growth, with projections for 2025 indicating an expansion of around 4.5%. This resilience is anchored in ASEAN’s unshakable commitment to peace, economic integration, inclusivity, and the principle of “ASEAN centrality” in the evolving regional architecture.

    Just recently, ASEAN has taken yet another landmark step forward. During the 46th ASEAN Summit in Kuala Lumpur in May 2025, under Malaysia’s inspiring chair, the “ASEAN Community Vision 2045” was adopted. This first-ever 20-year Vision envisages building a “Resilient, Innovative, Dynamic, and People-centered ASEAN.” Specifically, it would guide ASEAN’s actions in responding to global challenges in the traditional and non-traditional security domains and in realizing the opportunities thrown open by far-reaching transformations in the technological sphere, cyberspace, digital, green and blue economies, and so on. It would also advance the process of hard and soft connectivity as well as institutional building to enable ASEAN ensure a prosperous, sustainable, and inclusive future for its people.  In essence, the Vision 2045 represents a blueprint for the ASEAN to navigate a rapidly changing world while remaining aligned to its core principles and strategic priorities.

    Excellencies,

    Distinguished participants,

    From a strategic perspective, ASEAN represents far more than a regional economic bloc. It has become a central pillar of dialogue, stability, and economic growth in the Asia-Pacific region and beyond. For Pakistan, ASEAN’s trajectory offers valuable lessons in cooperative multilateralism, regional integration, and balancing national interests with larger common good and shared prosperity.

    Pakistan’s engagement with ASEAN has gradually deepened since being accorded the Sectoral Dialogue Partner status in July 1993.

    Expanding economic cooperation and business opportunities remains a critical pillar. Bilateral trade between ASEAN and Pakistan increased by over 23% in 2024, reaching $ 10.45 billion, compared to $ 8.46 billion in 2023. A promising avenue lies in linking ASEAN markets with the China-Pakistan Economic Corridor (CPEC), particularly through Special Economic Zones, logistics infrastructure, and energy corridors. Pakistan is also keen to explore complementarities with the Regional Comprehensive Economic Partnership (RCEP) framework to create a more seamless trade and investment ecosystem between Pakistan and ASEAN.

    The strength of the Pakistan–ASEAN partnership also lies in connections at the people-to-people level. Educational exchanges, scholarships, cultural links, and tourism hold immense potential to reinforce enduring bonds between our societies. Pakistan’s vibrant youth, coupled with ASEAN’s dynamic demographic profile, can help advance cross-cultural understanding and drive innovation. Expanding joint research initiatives, academic collaboration, and socio-cultural interaction would further fortify the human dimension of this partnership.

    As Pakistan’s premier think-tank, ISSI has been in the forefront of efforts to foster deeper understanding and practical cooperation between Pakistan and ASEAN. The “ASEAN Corner” established in the ISSI now serves as an important hub for research and enhanced public awareness on ASEAN affairs. Conceived during the first structured ISSI-ACI Dialogue in 2023 and inaugurated with the support of ASEAN and Pakistan Missions and the Ministry of Foreign Affairs, the ASEAN Corner houses an extensive collection of books, journals, digital resources, and cultural artefacts. It provides a vital platform — enabling researchers, scholars, and policymakers to generate strategic insights and forward-looking recommendations for Pakistan-ASEAN engagement. Building on this momentum, the 2024 special issue of “PIVOT” magazine dedicated to ASEAN-Pakistan relations was received with keen interest by all relevant stakeholders.

    At a time when the global landscape is characterized by flux and uncertainty, Pakistan and ASEAN share a common interest in promoting peace, stability, inclusivity, and regional prosperity. They have absolute clarity that this partnership is not just a diplomatic convenience but a strategic necessity rooted in shared values and mutual benefit. The ISSI reaffirms its commitment to further promoting this partnership through dedicated research, dialogue, and thought leadership. We also hope steady progress would continue to be made towards Full Dialogue Partnership.

    Let us use this occasion to reaffirm our dedication to a future where Pakistan and ASEAN stand together as strong partners in peace, progress, and regional prosperity. May this friendship continue to flourish and contribute to a more stable and harmonious world. Happy ASEAN Day!

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  • Jack Grealish transfer news: Everton interested in Man City winger, but can they afford him and where would he play? – Sky Sports

    1. Jack Grealish transfer news: Everton interested in Man City winger, but can they afford him and where would he play?  Sky Sports
    2. Jack Grealish: Everton open talks with Manchester City over potential loan move – The Athletic  The New York Times
    3. Jack Grealish snubs Jose Mourinho! Man City outcast rejects audacious Fenerbahce transfer approach as Everton step up pursuit  Goal.com
    4. Andros Townsend delivers his honest thoughts on Jack Grealish leaving Manchester City for Everton  TBR Football
    5. Everton news: Sami Mokbel on David Moyes being good for Jack Grealish’  BBC

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  • Bombardier to Launch Major U.S. Services Expansion Initiative Across Multiple States

    Bombardier to Launch Major U.S. Services Expansion Initiative Across Multiple States

    • Bombardier’s U.S. Services network is set to grow through a multi-phase, multi-site expansion initiative focusing on existing geographies where the company operates, in addition to new ones
    • The expansion initiative is expected to generate a need for highly skilled labour, with Bombardier anticipating new jobs created for each project
    • The planned phased investments will add the required infrastructure as well as aim to offer a wider range of services and resources to support the company’s growing customer base

    Bombardier is proud to announce the launch of a major expansion initiative within its services and support network in the United States. This multi-phase, multi-site expansion initiative aims to meet the increasing demand for OEM-backed convenience and care from the company’s growing customer base. Expansion projects are expected to roll out over the coming years, and will be focused on both regions where Bombardier currently operates, as well as new ones. As part of this growth, the company anticipates a need to recruit highly skilled talent, creating new job opportunities in each of the targeted regions.

    “Bombardier’s fleet in the United States is growing at a rapid pace, and so should our American network of services and support,” said Paul Sislian, Executive Vice President, Bombardier Aftermarket Services and Strategy. “Today’s announcement demonstrates our full commitment to provide exceptional care and seamless convenience, so that our customers can fly with total confidence. While our team is already delivering on this promise — with our best-in-class services earning the #1 ranking in the AIN Product Support survey for a second consecutive year, as well as in the 2025 Professional Pilot Corporate Aircraft Product Support Survey— this expansion initiative demonstrates the depth of our commitment to offer the ultimate customer experience.”

    With the entry into service of the Global 8000(1) aircraft later this year and the steady growth of Bombardier’s global fleet, the company is keen to bolster its U.S. capabilities in key hubs across the country to meet customers where they are. As part of this large-scale expansion investment, the company will prioritize talent recruitment and workforce development to ensure a steady flow of qualified professionals into its operations. Furthermore, to meet demand and ensure convenient care and service, Bombardier will focus on expanding its successful apprenticeship and talent programs with local communities to accelerate the recruitment and onboarding of Airframe and Powerplant Technicians, as well as other skilled workers.

    Bombardier’s current Services business already has a robust footprint in the United States, anchored by service centres in key locations including Dallas, Tucson, Hartford and Wichita, as well as in Miami Opa Locka with a facility inaugurated in 2022. Customers benefit from a comprehensive support ecosystem that features a strategically located parts distribution centre in Chicago and Mobile Response Teams deployed across 20 locations nationwide — ensuring rapid, expert assistance wherever it is needed.

    About Bombardier

    At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs. 

    For them, we are committed to pioneering the future of aviation — innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.

    Bombardier customers operate a fleet of more than 5,100 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries.  Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico. In 2024, Bombardier was honoured with the prestigious “Red Dot: Best of the Best” award for Brands and Communication Design.     

    For Information

    For corporate news and information, including Bombardier’s Sustainability report, as well as the company’s initiative to cover all its flight operations with a Sustainable Aviation Fuel (SAF) blend utilizing the Book-and-Claim system, visit 
    bombardier.com

    Learn more about Bombardier’s industry-leading products and customer service network at bombardier.com. Follow us on X @Bombardier.

    Media Contacts

    General media contact webform

    Christina Lemyre McCraw
    +1-514-497-4928
    christina.lemyremccraw@aero.bombardier.com 

    (1)The Global 8000 aircraft is currently under development and remains to be finalized and certified. All specifications and data are approximate, may change without notice and are subject to certain operating rules, assumptions and other conditions. It is expected to enter service in 2025. Please also see the forward-looking statements disclaimer at the end of this press release.

    Bombardier and Global 8000 are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.

    Forward-looking statements
    This press release contains certain forward-looking statements. By their nature, forward-looking statements require the Corporation to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from those set forth in the forward-looking statements. Please refer to the “Forward-Looking Statements” disclaimer contained in Bombardier Inc.’s most recently published financial report for additional details.

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  • Nonarteritic Anterior Ischemic Optic Neuropathy in an Otherwise Health

    Nonarteritic Anterior Ischemic Optic Neuropathy in an Otherwise Health

    Introduction

    Non-arteritic ischemic optic neuropathy (NAION), a common cause of optic nerve swelling and damage, is characterized by disrupted blood flow to the optic nerve head (ONH), ultimately resulting in a permanent vision loss.1 Established risk factors include systemic conditions such as hypertension, diabetes mellitus, and hyperlipidemia, as well as anatomical susceptibility often due to a small, crowded optic nerve head predisposing to ischemia. However, the role of pharmacologic agents in precipitating or exacerbating NAION remains an area of ongoing investigation with the potential effects of certain drugs remain still controversial.1 Although recent studies have reported a connection between NAION and the use of Semaglutide, a Glucagon-Like Peptide-1 (GLP-1) receptor agonist approved by the US Food and Drug Administration (FDA) in December 2017 for type 2 diabetes (T2D) and in December 2022 for obesity, further investigation is needed to fully understand the clinical implications of this association.2,3 Herein, we describe a case of progressive visual loss in an otherwise healthy young adult patient lacking traditional vascular risk factors or predisposing optic disc anatomy who developed NAION after the sequential use of two GLP-1 receptor agonists (RAs) for weight loss.

    Case Report

    A 47-year-old Caucasian female with a Body Mass Index (BMI) of 27.92 and no known personal history of diabetes, hypertension, or ischemic heart disease presented to our institution with a 1-year history of progressive and severe visual acuity decline in the right eye (RE). The patient reported that ocular symptoms started one month after initiating therapy with liraglutide, a GLP-1 RA, for weight loss. The initial treatment involved daily administration of liraglutide, with the dosage gradually increased every 10 days from 0.6 mg/day to 2.4 mg/day. After the onset of visual acuity decline, the patient underwent ophthalmological evaluation. The Snellen best-corrected visual acuity (BCVA) was 20/40 in the RE, and fundus examination revealed ONH swelling. All the other ocular findings were unremarkable. Humphrey Visual Field (HVF) testing revealed a scotoma in the inferior hemifield, particularly in the inferotemporal quadrant, with partial involvement of the central field (Figure 1A). The patient was prescribed oral corticosteroids (25 mg/day prednisone), which was discontinued after one month due to poor glycemic control (blood glucose 135 mg/dL). Due to the inadequate clinical response to weight loss therapy, the treatment was switched after four months from liraglutide to semaglutide, another GLP-1 RA. The therapy began with 0.25 mg once weekly for one month, then increased to 0.50 mg weekly for additional 3 months. After an additional 8 months, given the progressive decline in visual acuity, the patient discontinued weight loss therapy and presented to our clinic for a second opinion. Upon examination, BCVA was limited to 20/400 in the RE. Fundus examination revealed ONH edema with prominent vascular tortuosity in the RE (Figure 2A) and normal findings in the left eye (LE) (Figure 2B). Spectral-domain optical coherence tomography (SD-OCT) (Heidelberg Engineering, Heidelberg, Germany) confirmed severe ONH swelling, with thickening of the peripapillary retinal nerve fiber layer (RNFL) and marked thinning of the macular ganglion cell complex (GCC) in the RE (Figure 2C and E). The SD-OCT parameters were within the normal limits in the LE (Figure 2D and F). The Bruch’s membrane opening (BMO) diameter, determined as the mean of two linear scans passing vertically and horizontally through the ONH captured using SD-OCT, was 1749 µm in the RE and 1660 µm in the LE. HVF testing showed the progression of the altitudinal defect, with a deep scotoma in the inferotemporal quadrant, diffuse involvement of the inferonasal quadrant, and extension into the central field (Figure 1B). Given the lack of other anatomical and/or systemic risk factors, a diagnosis of NAION associated with the use of GLP-1 RAs was made.

    Figure 1 30-degree standard automated perimetry (grayscale) showing characteristic visual field defects in right eye (RE). One month after the beginning of liraglutide therapy: deep defect in the inferior hemifield, particularly in the inferotemporal quadrant, with partial involvement of the central field was detected, mean deviation (MD) of −6.87 dB (A). Eight months after the beginning of systemic therapy: lower altitudinal defect, with a deep scotoma in the inferotemporal quadrant, diffuse involvement of the inferonasal quadrant and extension into the central field, MD of −12.11 dB (B).

    Figure 2 Fundus photographs of both eyes, right eye (RE) with optic disc edema and vascular tortuosity (A and B). Optical coherence tomography (OCT)-derived ganglion cell layers map with ETDRS grid overlay showed marked thinning of the macular ganglion cell complex (GCC) in the right eye (C). In optic nerve head scans (E and F), the green circle evidences the circumpapillary retinal nerve fiber layer (RNFL) scan path, used to measure RNFL thickness around the optic disc. OCT B-scan displayed optic nerve head swelling with thickening of the peripapillary RNFL in the affected eye (E). The GCC and the RNFL of the left eye (LE) were within limits (D and F).

    Discussion

    GLP-1 RAs are FDA-approved drugs that are widely used to treat T2D and obesity. These drugs exert their effects through multiple mechanisms, including enhancement of β-cell function, delayed gastric emptying, and inhibition of glucagon secretion. Despite their widespread use and good safety profile, recent studies have documented a possible association between GLP-1 RAs and NAION.2–6 Hathaway and colleagues were the first to report an increased risk of NAION in individuals treated with weekly semaglutide. In a retrospective analysis of 710 T2D patients and 979 overweight or obese patients, the cumulative incidence of NAION was 8.9% over 36 months among 194 semaglutide users with T2D, with a hazard ratio (HR) of 4.28. Similarly, among 361 overweight or obese semaglutide users, the cumulative incidence over 36 months was 6.7%, with a HR of 7.64.2 In agreement with these results, a large cohort study of 424152 Danish individuals identified an elevated risk of developing NAION in T2D patients treated with semaglutide. In detail, semaglutide users was associated with a higher incidence rate of NAION (0.228 vs 0.093 per 1000 person-years) than non-users and with a significantly elevated risk of upcoming NAION, with a reported HR of 2.19.4 Additionally, Ahmadi and Hamann recently described 4 cases of male patients who developed unilateral NAION while receiving semaglutide treatment. All patients exhibited anatomical predispositions, presenting with a “disc at risk” configuration characterized by a crowded optic disc without cupping and a small BMO (diameters below the normative value of 1.6–1.8 mm). These patients were treated with doses of semaglutide ranging from 1 mg to 2.4 mg once weekly.5 Regarding liraglutide, only a recent study reported an association between its use and NAION development. In detail, of 2446482 patients with diabetes undergoing therapy, a 179% likelihood of being diagnosed with NAION was reported in patients receiving liraglutide treatment.6 Conversely, two retrospective studies reported an absent or only slightly increased risk of NAION after semaglutide administration.3,7 In an analysis involving approximately 300000 individuals, Chou and coauthors reported that semaglutide use was not associated with an increased risk of NAION compared to non–GLP-1 RA users. This finding remained consistent across various subgroups, including patients with differing baseline comorbidities (T2DM only, obesity only, or T2DM with obesity), as well as across different follow-up periods (1, 2, or 3 years).7 Also, Cai and colleagues in a large multicenter study on 37.1 million patients with T2D described a modest increase in the risk of NAION among individuals with T2D associated with semaglutide use.3

    Given the normal BMO diameter, the absence of other systemic predisposing conditions, such as hypertension, diabetes mellitus, and hypercoagulability, and the temporal relationship between the drugs intake and the ocular disease, a plausible association between GLP-1 RAs administration and NAION may be considered in our case. However, the exact pathogenic mechanism by which GLP-1 RAs elevate the risk of NAION remains unclear. Stimulation of GLP-1 receptors on the optic nerve or GLP-1 RA-induced activation of the sympathetic nervous system can alter ONH perfusion, thereby potentially increasing the risk of NAION.2–4

    To our knowledge, this is the first comprehensive report of NAION occurring in a slightly overweight, healthy young adult after liraglutide use, confirming a potential link between GLP-1 RAs therapy and the development of complications at the ONH level.

    Conclusion

    In conclusion, this case supports a potential association between GLP-1 receptor agonists and the development of NAION, with liraglutide likely contributing to disease onset and semaglutide potentially involved in its progression. While GLP-1 RAs are widely regarded as effective and generally safe treatments for T2D and obesity, their increasing use raises concerns about rare but serious ocular adverse events such as NAION. Clinicians should maintain a high index of suspicion, conduct thorough risk assessments, and provide appropriate patient counselling when initiating GLP-1 RA therapy. If visual symptoms arise during therapy, prompt ophthalmological investigation and treatment interruption are required. The conflicting evidence in the current literature highlights the urgent need for larger prospective studies to more accurately quantify the risk of NAION, as well as the development of clear, evidence-based monitoring guidelines. Additionally, a better understanding of the underlying pathogenic mechanisms, including potential effects on ONH perfusion or anatomical susceptibility, is essential to inform clinical decision-making and improve patient safety.

    Claims of Priority

    After conducting a literature review on 23/03/25 utilizing PubMed, Google Scholar using the key words (“liraglutide”+“NAION” or “Optic neuritis”), we did not find any prior reports of NAION occurring in a slightly overweight healthy young adult after liraglutide use.

    Patient Consent

    Written informed consent was provided by the patients to have the case details and any accompanying images published.

    Institutional Approval

    Institutional review board (IRB) approval was not required for the publication of the case details.

    Informed Consent Statement

    Informed consent was obtained from the patient.

    Author Contributions

    All authors made a significant contribution to the work reported, whether that is in the conception, study design, execution, acquisition of data, analysis and interpretation, or in all these areas; took part in drafting, revising or critically reviewing the article; gave final approval of the version to be published; have agreed on the journal to which the article has been submitted; and agree to be accountable for all aspects of the work All authors attest that they meet the current ICMJE criteria for Authorship.

    Funding

    This research received no external funding or grants.

    Disclosure

    The authors declare no conflicts of interest in this work.

    References

    1. Raizada K, Margolin E. Non-arteritic anterior ischemic optic neuropathy [Internet]. In: StatPearls. Treasure Island (FL):StatPearls Publishing;2025. http://www.ncbi.nlm.nih.gov/books/NBK559045/.

    2. Hathaway JT, Shah MP, Hathaway DB, et al. Risk of nonarteritic anterior ischemic optic neuropathy in patients prescribed semaglutide. JAMA Ophthalmol. 2024;142(8):732–739. PMID: 38958939; PMCID: PMC11223051. doi:10.1001/jamaophthalmol.2024.2296

    3. Cai CX, Hribar M, Baxter S, et al. Semaglutide and nonarteritic anterior ischemic optic neuropathy. JAMA Ophthalmol. 2025;143(4):304–314. PMID: 39976940; PMCID: PMC11843465. doi:10.1001/jamaophthalmol.2024.6555

    4. Grauslund J, Taha AA, Molander LD, et al. Once-weekly semaglutide doubles the five-year risk of nonarteritic anterior ischemic optic neuropathy in a Danish cohort of 424,152 persons with type 2 diabetes. Int J Retina Vitreous. 2024;10(1):97. PMID: 39696569; PMCID: PMC11657653. doi:10.1186/s40942-024-00620-x

    5. Ahmadi H, Hamann S. Anterior ischemic optic neuropathy in patients treated with semaglutide: report of four cases with a possible association. BMC Ophthalmol. 2025;25:132. doi:10.1186/s12886-025-03958-4

    6. Bartelt K, Swaminathan S, Joyce B, Allen S, Deckert J. Liraglutide and insulin prescriptions associated with increased likelihood of rare vision loss; 2024 [cited March 15, 2025]; Available from: https://epicresearch.org/articles/liraglutide-and-insulin-prescriptions-associated-with-increased-likelihood-of-rare-vision-loss. Accessed August 5, 2025.

    7. Chou CC, Pan SY, Sheen YJ, et al. Association between semaglutide and nonarteritic anterior ischemic optic neuropathy: a multinational population-based study. Ophthalmology. 2024;132(4):S0161–6420(24)00685–7. PMID: 39491755. doi:10.1016/j.ophtha.2024.10.030

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  • Naval Chief holds meetings with Azerbaijan’s military leadership – RADIO PAKISTAN

    1. Naval Chief holds meetings with Azerbaijan’s military leadership  RADIO PAKISTAN
    2. Naval Chief Admiral Naveed Ashraf visits Azerbaijan  ptv.com.pk
    3. Azerbaijan, Pakistan to launch new trade ventures  Dawn
    4. Baku hosts meeting between Azerbaijani and Pakistani Naval Commanders  Azərtac
    5. CNS meets top military leadership of Azerbaijan  Associated Press of Pakistan

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  • Lilly raises full-year earnings forecasts on surging demand for weight-loss drug – Reuters

    1. Lilly raises full-year earnings forecasts on surging demand for weight-loss drug  Reuters
    2. Lilly reports second-quarter 2025 financial results and raises guidance | Eli Lilly and Company  Eli Lilly
    3. Eli Lily Q2 Earnings Preview: Future Depends on Mounjaro and Zepbound Performance  Investing.com
    4. These 2 stocks are still on our shopping list, and what Eli Lilly needs to deliver on earnings  CNBC
    5. Eli Lilly beats earnings for second quarter on strong GLP-1 sales, but stock dives on GLP-1 pill trial results  Yahoo Finance

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  • Cheniere Reports Second Quarter 2025 Results and Updates Full Year 2025 Financial Guidance :: Cheniere Energy, Inc. (LNG)

    Cheniere Reports Second Quarter 2025 Results and Updates Full Year 2025 Financial Guidance :: Cheniere Energy, Inc. (LNG)








    HOUSTON–(BUSINESS WIRE)–
    Cheniere Energy, Inc. (“Cheniere”) (NYSE: LNG) today announced its financial results for the second quarter 2025.

    SECOND QUARTER 2025 SUMMARY FINANCIAL RESULTS

    (in billions)

     

     

    Three Months Ended

    June 30, 2025

     

    Six Months Ended

    June 30, 2025

     

    Revenues

     

     

    $4.6

     

    $10.1

     

    Net Income1

     

     

    $1.6

     

    $2.0

     

    Consolidated Adjusted EBITDA2

     

     

    $1.4

     

    $3.3

     

    Distributable Cash Flow2

     

     

    $0.9

     

    $2.2

     

    2025 FULL YEAR FINANCIAL GUIDANCE

    (in billions)

     

    2025 Previous

     

    2025 Revised

     

    Consolidated Adjusted EBITDA2

     

    $6.5

    $7.0

     

    $6.6

    $7.0

     

    Distributable Cash Flow2

     

    $4.1

    $4.6

     

    $4.4

    $4.8

     

    RECENT HIGHLIGHTS

    Financial

    • During the three and six months ended June 30, 2025, Cheniere generated revenues of approximately $4.6 billion and $10.1 billion, net income1 of approximately $1.6 billion and $2.0 billion, Consolidated Adjusted EBITDA2 of approximately $1.4 billion and $3.3 billion, and Distributable Cash Flow2 of approximately $0.9 billion and $2.2 billion, respectively.

    • Tightening full year 2025 Consolidated Adjusted EBITDA2 guidance from $6.5 billion – $7.0 billion to $6.6 billion – $7.0 billion and raising and tightening full year 2025 Distributable Cash Flow2 guidance from $4.1 billion – $4.6 billion to $4.4 billion – $4.8 billion.

    Capital Allocation

    • Pursuant to Cheniere’s comprehensive capital allocation plan, Cheniere deployed approximately $1.3 billion and $2.6 billion towards accretive growth, balance sheet management and shareholder returns in the three and six months ended June 30, 2025, respectively. During the three and six months ended June 30, 2025, Cheniere repurchased an aggregate of approximately 1.4 million and 3.0 million shares of common stock for approximately $306 million and $656 million, respectively, paid quarterly dividends of $0.500 and $1.000 per share of common stock, totaling approximately $111 million and $223 million, respectively, and in the six months ended June 30, 2025, Cheniere repaid $300 million of consolidated long-term indebtedness.

    • In June 2025, Cheniere announced updates to its long-term company outlook, including an over 10% increase to its run-rate liquefied natural gas (“LNG”) production forecast, inclusive of the CCL Midscale Trains 8 & 9 Project (defined below) and debottlenecking. Cheniere also increased and extended its committed capital allocation targets, designed to maintain investment grade credit metrics through cycles, further return capital to shareholders, and continue to invest in accretive growth, as the Company expects to generate over $25 billion of available cash3 through 2030 to reach over $25 per share of run-rate Distributable Cash Flow2.

    • In June 2025, Cheniere declared a dividend with respect to the second quarter 2025 of $0.500 per share of common stock, which is payable on August 18, 2025.

    • In June 2025, Cheniere announced, subject to declaration by its Board of Directors, an increase to its quarterly dividend by over 10% from $2.00 to $2.22 per common share annualized, commencing with the third quarter of 2025.

    Growth

    • In June 2025, Cheniere made a positive Final Investment Decision (“FID”) with respect to the CCL Midscale Trains 8 & 9 Project and issued full notice to proceed to Bechtel Energy, Inc. (“Bechtel”) effective June 18, 2025.

    • In June 2025, LNG was produced for the first time from the second train (“Train 2”) of the CCL Stage 3 Project (defined below), and on August 6, 2025, substantial completion of Train 2 was achieved.

    • In June 2025, certain subsidiaries of Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE: CQP) updated the SPL Expansion Project’s (defined below) application with the Federal Energy Regulatory Commission (“FERC”) to reflect a two-phased project, inclusive of three liquefaction trains and supporting infrastructure, maintaining an expected total peak production capacity of up to approximately 20 million tonnes per annum (“mtpa”) of LNG, inclusive of estimated debottlenecking opportunities.

    • In July 2025, certain subsidiaries of Cheniere initiated the pre-filing review process with the FERC under the National Environmental Policy Act (“NEPA”) for the CCL Stage 4 Expansion Project (defined below).

    Commercial

    • In May 2025, Cheniere Marketing, LLC (“Cheniere Marketing”) entered into a long-term Integrated Production Marketing (“IPM”) gas supply agreement with a subsidiary of Canadian Natural Resources Limited to purchase 140,000 MMBtu per day of natural gas at a price based on the Platts Japan Korea Marker (“JKM”) less fixed LNG shipping costs and a fixed liquefaction fee for a term of 15 years, which is expected to commence in 2030. The LNG associated with this gas supply, approximately 0.85 mtpa, will be marketed by Cheniere Marketing.

    • In August 2025, Cheniere Marketing entered into a long-term LNG sale and purchase agreement (“SPA”) with JERA Co., Inc. (“JERA”), under which JERA has agreed to purchase approximately 1.0 mtpa of LNG from Cheniere Marketing on a free-on-board basis from 2029 through 2050. The purchase price for LNG under the SPA is indexed to the Henry Hub price, plus a fixed liquefaction fee.

    CEO COMMENT

    “The second quarter of 2025 marked another outstanding quarter for Cheniere, as our team demonstrated its ability to execute safely, reliably and strategically throughout our business, highlighted by the positive FID of the CCL Midscale Trains 8 & 9 Project and the successful completion of our large-scale planned maintenance turnaround at Sabine Pass,” said Jack Fusco, Cheniere’s President and Chief Executive Officer. “Our strong financial and operational results year-to-date, coupled with our constructive outlook and visibility for the remainder of the year, have enabled us to tighten our full year 2025 Consolidated Adjusted EBITDA and Distributable Cash Flow guidance ranges. For the remainder of the year, we are focused on growing our brownfield platform, bringing online new capacity at Corpus Christi ahead of schedule and on budget, and delivering results within our upwardly revised guidance ranges.”

    SUMMARY AND REVIEW OF FINANCIAL RESULTS

    (in millions, except LNG data)

    Three Months Ended June 30,

     

    Six Months Ended June 30,

     

     

    2025

     

     

    2024

     

    % Change

     

     

    2025

     

     

    2024

     

    % Change

    Revenues

    $

    4,641

     

    $

    3,251

     

    43

    %

     

    $

    10,085

     

    $

    7,504

     

    34

    %

    Net income1

    $

    1,626

     

    $

    880

     

    85

    %

     

    $

    1,979

     

    $

    1,382

     

    43

    %

    Consolidated Adjusted EBITDA2

    $

    1,416

     

    $

    1,322

     

    7

    %

     

    $

    3,288

     

    $

    3,095

     

    6

    %

    LNG exported:

     

     

     

     

     

     

     

     

     

     

     

    Number of cargoes

     

    154

     

     

    155

     

    (1

    )%

     

     

    322

     

     

    321

     

    %

    Volumes (TBtu)

     

    550

     

     

    553

     

    (1

    )%

     

     

    1,159

     

     

    1,155

     

    %

    LNG volumes loaded (TBtu)

     

    550

     

     

    552

     

    %

     

     

    1,158

     

     

    1,153

     

    %

    Net income1 increased approximately $746 million and $597 million for the three and six months ended June 30, 2025, respectively, as compared to the corresponding 2024 periods. The increases were primarily attributable to approximately $873 million and $596 million of favorable variances related to changes in fair value of our derivative instruments, including the impact of derivative instruments related to our long-term Integrated Production Marketing (“IPM”) agreements (before tax and non-controlling interests) for the three and six months ended June 30, 2025, respectively, as compared to the corresponding 2024 periods. The increases were partially offset by higher provisions for income tax during both periods.

    Consolidated Adjusted EBITDA2 increased approximately $94 million and $193 million for the three and six months ended June 30, 2025, respectively, as compared to the corresponding 2024 periods. The increases were primarily due to higher total margins per MMBtu of LNG delivered during the 2025 periods as compared to the corresponding 2024 periods. The increases were partially offset by higher operating expenses related to planned maintenance activities at both the SPL Project (defined below) and CCL Project (defined below), as well as new capacity from the CCL Stage 3 Project, during the three months ended June 30, 2025, in addition to lower contributions from certain optimization activities related to our vessel charter portfolio during both periods.

    Share-based compensation expenses included in net income totaled $49 million and $105 million for the three and six months ended June 30, 2025, respectively, compared to $52 million and $92 million for the corresponding 2024 periods.

    Our financial results are reported on a consolidated basis. Our ownership interest in Cheniere Partners as of June 30, 2025 consisted of 100% ownership of the general partner and a 48.6% limited partner interest.

    BALANCE SHEET MANAGEMENT

    Capital Resources

    The table below provides a summary of our available liquidity (in millions) as of June 30, 2025:

     

    June 30, 2025

    Cash and cash equivalents (1)

    $

    1,648

    Restricted cash and cash equivalents (2)

     

    369

    Available commitments under our credit facilities:

     

    Sabine Pass Liquefaction, LLC (“SPL”) Revolving Credit Facility

     

    785

    Cheniere Partners Revolving Credit Facility

     

    1,000

    Cheniere Corpus Christi Holdings, LLC (“CCH”) Credit Facility

     

    3,260

    CCH Working Capital Facility

     

    1,390

    Cheniere Revolving Credit Facility

     

    1,250

    Total available commitments under our credit facilities

     

    7,685

     

     

    Total available liquidity

    $

    9,702

    (1)

    $108 million of cash and cash equivalents was held by our consolidated variable interest entities (“VIEs”).

     

     

    (2)

    $40 million of restricted cash and cash equivalents was held by our consolidated VIEs.

    Recent Key Financial Transactions and Updates

    In July 2025, Cheniere Partners issued $1.0 billion aggregate principal amount of 5.550% Senior Notes due 2035, and the net proceeds, together with cash on hand, were used to redeem $1.0 billion of the aggregate principal amount of SPL’s 5.875% Senior Secured Notes due 2026.

    In August 2025, the $1.25 billion Cheniere Revolving Credit Facility was amended and restated to extend its maturity into 2030, reduce the rate of interest and commitment fees applicable thereunder, and make certain other changes to its terms and conditions.

    During the six months ended June 30, 2025, SPL repaid the remaining $300 million in principal amount of its 5.625% Senior Secured Notes due 2025 with cash on hand.

    LIQUEFACTION PROJECTS OVERVIEW

    SPL Project

    Through Cheniere Partners, we operate liquefaction and export facilities with a total production capacity of over 30 mtpa of LNG at the Sabine Pass LNG terminal in Cameron Parish, Louisiana (the “SPL Project”).

    SPL Expansion Project

    Through Cheniere Partners, we are developing an expansion adjacent to the SPL Project with an expected total peak production capacity of up to approximately 20 mtpa of LNG (the “SPL Expansion Project”), inclusive of estimated debottlenecking opportunities. In February 2024, certain subsidiaries of Cheniere Partners submitted an application to the FERC for authorization to site, construct, and operate the SPL Expansion Project, as well as an application to the Department of Energy (“DOE”) requesting authorization to export LNG to Free-Trade Agreement (“FTA”) and non-FTA countries, both of which applications exclude debottlenecking. In October 2024, we received authorization from the DOE to export LNG to FTA countries. In June 2025, the SPL Expansion Project’s FERC application was updated to reflect a two-phased project, inclusive of three liquefaction trains and supporting infrastructure, maintaining an expected total peak production capacity of up to approximately 20 mtpa of LNG, inclusive of estimated debottlenecking opportunities.

    CCL Project

    We operate liquefaction and export facilities with a total production capacity of over 18 mtpa of LNG at the Corpus Christi LNG terminal near Corpus Christi, Texas (the “CCL Project”), inclusive of Trains 1 and 2 of the CCL Stage 3 Project.

    CCL Stage 3 Project

    We are constructing an expansion adjacent to the CCL Project consisting of seven midscale Trains with an expected total production capacity of over 10 mtpa of LNG (the “CCL Stage 3 Project”), including approximately 3 mtpa in operation and over 7 mtpa under construction. Substantial Completion was achieved for the first train of the CCL Stage 3 Project in March 2025, and substantial completion of Train 2 was achieved in August 2025.

    CCL Stage 3 Project Progress as of June 30, 2025:

     

    CCL Stage 3 Project

    Project Status

    Under Construction / Commissioning

    Project Completion Percentage

    86.7%(1)

    Expected Substantial Completion

    2H 2025 – 2H 2026

    (1)

    Engineering 98.9% complete, procurement 99.8% complete, subcontract work 91.6% complete and construction 64.9% complete.

    CCL Midscale Trains 8 & 9 Project

    We are constructing an expansion adjacent to the CCL Stage 3 Project consisting of two additional midscale Trains with an expected total production capacity of approximately 5 mtpa of LNG (the “CCL Midscale Trains 8 & 9 Project”), inclusive of estimated debottlenecking opportunities. In June 2025, our Board of Directors made a positive FID with respect to the CCL Midscale Trains 8 & 9 Project and debottlenecking, and full notice to proceed was issued to Bechtel effective June 18, 2025.

    CCL Stage 4 Expansion Project

    We are developing an expansion adjacent to the CCL Project with an expected total peak production capacity of up to approximately 24 mtpa of LNG, inclusive of estimated debottlenecking opportunities (the “CCL Stage 4 Expansion Project”). In July 2025, certain of our subsidiaries initiated the pre-filing review process with the FERC with respect to the CCL Stage 4 Expansion Project.

    INVESTOR CONFERENCE CALL AND WEBCAST

    We will host a conference call to discuss our financial and operating results for the second quarter 2025 on Thursday, August 7, 2025, at 11 a.m. Eastern time / 10 a.m. Central time. A listen-only webcast of the call and an accompanying slide presentation may be accessed through our website at www.cheniere.com. Following the call, an archived recording will be made available on our website.

    ________________

    1

    Net income as used herein refers to Net income attributable to Cheniere Energy, Inc. on our Consolidated Statements of Operations.

    2

    Non-GAAP financial measure. See “Reconciliation of Non-GAAP Measures” for further details.

    3

    Forecast as of June 24, 2025 and subject to change based upon, among other things, changes in commodity prices over time.

    About Cheniere

    Cheniere Energy, Inc. is the leading producer and exporter of LNG in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with a total combined production capacity of approximately 49 mtpa of LNG in operation and an additional over 12 mtpa of expected production capacity under construction, inclusive of estimated debottlenecking opportunities. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, Dubai and Washington, D.C.

    For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the Securities and Exchange Commission.

    Use of Non-GAAP Financial Measures

    In addition to disclosing financial results in accordance with U.S. GAAP, the accompanying news release contains non-GAAP financial measures. Consolidated Adjusted EBITDA and Distributable Cash Flow are non-GAAP financial measures that we use to facilitate comparisons of operating performance across periods. These non-GAAP measures should be viewed as a supplement to and not a substitute for our U.S. GAAP measures of performance and the financial results calculated in accordance with U.S. GAAP and reconciliations from these results should be carefully evaluated.

    Non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or in lieu of an analysis of our results as reported under GAAP and should be evaluated only on a supplementary basis.

    Forward-Looking Statements

    This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding regulatory authorization and approval expectations, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third-parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, share repurchases and execution on the capital allocation plan, and (viii) statements relating to our goals, commitments and strategies in relation to environmental matters. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.

    (Financial Tables and Supplementary Information Follow)

    LNG VOLUME SUMMARY

    As of August 1, 2025, approximately 4,220 cumulative LNG cargoes totaling approximately 290 million tonnes of LNG have been produced, loaded and exported from our liquefaction projects.

    During the three and six months ended June 30, 2025, we exported 550 and 1,159 TBtu, respectively, of LNG from our liquefaction projects. 32 TBtu of LNG exported from our liquefaction projects and sold on a delivered basis was in transit as of June 30, 2025, none of which was related to commissioning activities.

    The following table summarizes the volumes of LNG that were loaded from our liquefaction projects and for which the financial impact was recognized on our Consolidated Financial Statements during the three and six months ended June 30, 2025:

     

    Three Months Ended June 30, 2025

     

    Six Months Ended June 30, 2025

    (in TBtu)

    Operational

     

    Commissioning

     

    Total

     

    Operational

     

    Commissioning

     

    Total

    Volumes loaded during the current period

    550

     

     

     

    550

     

     

    1,152

     

     

    6

     

    1,158

     

    Volumes loaded during the prior period but recognized during the current period

    32

     

     

    1

     

     

    33

     

     

    39

     

     

     

     

    39

     

    Less: volumes loaded during the current period and in transit at the end of the period

    (32

    )

     

     

     

    (32

    )

     

    (32

    )

     

     

     

    (32

    )

    Total volumes recognized in the current period

    550

     

     

    1

     

     

    551

     

     

    1,159

     

     

    6

     

     

    1,165

     

    In addition, during the three and six months ended June 30, 2025, we recognized 8 and 15 TBtu, respectively, of LNG on our Consolidated Financial Statements related to LNG cargoes sourced from third-parties.

    Cheniere Energy, Inc.

    Consolidated Statements of Operations

    (in millions, except per share data)(1)

    (unaudited)

     

     

    Three Months Ended

     

    Six Months Ended

     

    June 30,

     

    June 30,

     

     

    2025

     

     

     

    2024

     

     

     

    2025

     

     

     

    2024

     

    Revenues

     

     

     

     

     

     

     

    LNG revenues

    $

    4,515

     

     

    $

    3,042

     

     

    $

    9,820

     

     

    $

    7,079

     

    Regasification revenues

     

    34

     

     

     

    34

     

     

     

    68

     

     

     

    68

     

    Other revenues

     

    92

     

     

     

    175

     

     

     

    197

     

     

     

    357

     

    Total revenues

     

    4,641

     

     

     

    3,251

     

     

     

    10,085

     

     

     

    7,504

     

     

     

     

     

     

     

     

     

    Operating costs and expenses

     

     

     

     

     

     

     

    Cost of sales (excluding operating and maintenance expense and depreciation, amortization and accretion expense shown separately below) (2)

     

    1,117

     

     

     

    784

     

     

     

    4,688

     

     

     

    3,020

     

    Operating and maintenance expense

     

    559

     

     

     

    463

     

     

     

    1,032

     

     

     

    914

     

    Selling, general and administrative expense

     

    99

     

     

     

    99

     

     

     

    215

     

     

     

    200

     

    Depreciation, amortization and accretion expense

     

    329

     

     

     

    304

     

     

     

    641

     

     

     

    606

     

    Other operating costs and expenses

     

    7

     

     

     

    13

     

     

     

    18

     

     

     

    22

     

    Total operating costs and expenses

     

    2,111

     

     

     

    1,663

     

     

     

    6,594

     

     

     

    4,762

     

     

     

     

     

     

     

     

     

    Income from operations

     

    2,530

     

     

     

    1,588

     

     

     

    3,491

     

     

     

    2,742

     

     

     

     

     

     

     

     

     

    Other income (expense)

     

     

     

     

     

     

     

    Interest expense, net of capitalized interest

     

    (237

    )

     

     

    (257

    )

     

     

    (466

    )

     

     

    (523

    )

    Loss on modification or extinguishment of debt

     

     

     

     

    (9

    )

     

     

     

     

     

    (9

    )

    Interest and dividend income

     

    31

     

     

     

    47

     

     

     

    68

     

     

     

    108

     

    Other income (expense), net

     

    (1

    )

     

     

    3

     

     

     

    19

     

     

     

    2

     

    Total other expense

     

    (207

    )

     

     

    (216

    )

     

     

    (379

    )

     

     

    (422

    )

     

     

     

     

     

     

     

     

    Income before income taxes and non-controlling interests

     

    2,323

     

     

     

    1,372

     

     

     

    3,112

     

     

     

    2,320

     

    Less: income tax provision

     

    426

     

     

     

    210

     

     

     

    547

     

     

     

    319

     

    Net income

     

    1,897

     

     

     

    1,162

     

     

     

    2,565

     

     

     

    2,001

     

    Less: net income attributable to non-controlling interests

     

    271

     

     

     

    282

     

     

     

    586

     

     

     

    619

     

    Net income attributable to Cheniere

    $

    1,626

     

     

    $

    880

     

     

    $

    1,979

     

     

    $

    1,382

     

     

     

     

     

     

     

     

     

    Net income per share attributable to common stockholders—basic (1)

    $

    7.32

     

     

    $

    3.85

     

     

    $

    8.87

     

     

    $

    5.97

     

    Net income per share attributable to common stockholders—diluted (1)

    $

    7.30

     

     

    $

    3.84

     

     

    $

    8.85

     

     

    $

    5.96

     

     

     

     

     

     

     

     

     

    Weighted average number of common shares outstanding—basic

     

    221.8

     

     

     

    228.4

     

     

     

    222.6

     

     

     

    231.3

     

    Weighted average number of common shares outstanding—diluted

     

    222.3

     

     

     

    228.9

     

     

     

    223.2

     

     

     

    231.9

     

    ________________

    (1)

    Please refer to the Cheniere Energy, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the Securities and Exchange Commission.

    (2)

    Cost of sales includes approximately $1.4 billion and $0.7 billion of gains from changes in the fair value of commodity derivatives prior to contractual delivery or termination during the three and six months ended June 30, 2025, respectively, as compared to $0.7 billion and $0.4 billion of gains in the corresponding 2024 periods, respectively.

    Cheniere Energy, Inc.

    Consolidated Balance Sheets

    (in millions, except share data)(1)(2)

    (unaudited)

     

     

    June 30,

     

    December 31,

     

     

    2025

     

     

     

    2024

     

     

     

     

     

    ASSETS

    Current assets

     

     

     

    Cash and cash equivalents

    $

    1,648

     

     

    $

    2,638

     

    Restricted cash and cash equivalents

     

    369

     

     

     

    552

     

    Trade and other receivables, net of current expected credit losses

     

    761

     

     

     

    727

     

    Inventory

     

    482

     

     

     

    501

     

    Current derivative assets

     

    147

     

     

     

    155

     

    Margin deposits

     

    150

     

     

     

    128

     

    Other current assets, net

     

    147

     

     

     

    100

     

    Total current assets

     

    3,704

     

     

     

    4,801

     

     

     

     

     

    Property, plant and equipment, net of accumulated depreciation

     

    34,829

     

     

     

    33,552

     

    Operating lease assets

     

    2,776

     

     

     

    2,684

     

    Derivative assets

     

    2,236

     

     

     

    1,903

     

    Deferred tax assets

     

    18

     

     

     

    19

     

    Other non-current assets, net

     

    1,015

     

     

     

    899

     

    Total assets

    $

    44,578

     

     

    $

    43,858

     

     

     

     

     

    LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY

    Current liabilities

     

     

     

    Accounts payable

    $

    161

     

     

    $

    171

     

    Accrued liabilities

     

    1,492

     

     

     

    2,179

     

    Current debt, net of unamortized discount and debt issuance costs

     

    609

     

     

     

    351

     

    Deferred revenue

     

    145

     

     

     

    163

     

    Current operating lease liabilities

     

    562

     

     

     

    592

     

    Current derivative liabilities

     

    706

     

     

     

    902

     

    Other current liabilities

     

    100

     

     

     

    83

     

    Total current liabilities

     

    3,775

     

     

     

    4,441

     

     

     

     

     

    Long-term debt, net of unamortized discount and debt issuance costs

     

    22,012

     

     

     

    22,554

     

    Operating lease liabilities

     

    2,216

     

     

     

    2,090

     

    Derivative liabilities

     

    1,621

     

     

     

    1,865

     

    Deferred tax liabilities

     

    2,307

     

     

     

    1,856

     

    Other non-current liabilities

     

    1,338

     

     

     

    992

     

    Total liabilities

     

    33,269

     

     

     

    33,798

     

     

     

     

     

    Redeemable non-controlling interest

     

    58

     

     

     

    7

     

     

     

     

     

    Stockholders’ equity

     

     

     

    Preferred stock: $0.0001 par value, 5.0 million shares authorized, none issued

     

     

     

     

     

    Common stock: $0.003 par value, 480.0 million shares authorized; 279.2 million shares and 278.7 million shares issued at June 30, 2025 and December 31, 2024, respectively

     

    1

     

     

     

    1

     

    Treasury stock: 57.7 million shares and 54.7 million shares at June 30, 2025 and December 31, 2024, respectively, at cost

     

    (6,798

    )

     

     

    (6,136

    )

    Additional paid-in-capital

     

    4,483

     

     

     

    4,452

     

    Retained earnings

     

    9,021

     

     

     

    7,382

     

    Total Cheniere stockholders’ equity

     

    6,707

     

     

     

    5,699

     

    Non-controlling interests

     

    4,544

     

     

     

    4,354

     

    Total stockholders’ equity

     

    11,251

     

     

     

    10,053

     

    Total liabilities, redeemable non-controlling interest and stockholders’ equity

    $

    44,578

     

     

    $

    43,858

     

    ________________

    (1)

    Please refer to the Cheniere Energy, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the Securities and Exchange Commission.

    (2)

    Amounts presented include balances held by our consolidated VIEs, substantially all of which are related to Cheniere Partners. As of June 30, 2025, total assets and liabilities of our VIEs, which are included in our Consolidated Balance Sheets, were $16.7 billion and $17.2 billion, respectively, including $108 million of cash and cash equivalents and $40 million of restricted cash and cash equivalents.

    Reconciliation of Non-GAAP Measures

    Regulation G Reconciliations

    Consolidated Adjusted EBITDA

    The following table reconciles our Consolidated Adjusted EBITDA to U.S. GAAP results for the three and six months ended June 30, 2025 and 2024 (in millions):

     

    Three Months Ended June 30,

     

    Six Months Ended June 30,

     

     

    2025

     

     

     

    2024

     

     

     

    2025

     

     

     

    2024

     

    Net income attributable to Cheniere

    $

    1,626

     

     

    $

    880

     

     

    $

    1,979

     

     

    $

    1,382

     

    Net income attributable to non-controlling interests

     

    271

     

     

     

    282

     

     

     

    586

     

     

     

    619

     

    Income tax provision

     

    426

     

     

     

    210

     

     

     

    547

     

     

     

    319

     

    Interest expense, net of capitalized interest

     

    237

     

     

     

    257

     

     

     

    466

     

     

     

    523

     

    Loss on modification or extinguishment of debt

     

     

     

     

    9

     

     

     

     

     

     

    9

     

    Interest and dividend income

     

    (31

    )

     

     

    (47

    )

     

     

    (68

    )

     

     

    (108

    )

    Other expense (income), net

     

    1

     

     

     

    (3

    )

     

     

    (19

    )

     

     

    (2

    )

    Income from operations

    $

    2,530

     

     

    $

    1,588

     

     

    $

    3,491

     

     

    $

    2,742

     

    Adjustments to reconcile income from operations to Consolidated Adjusted EBITDA:

     

     

     

     

     

     

     

    Depreciation, amortization and accretion expense

     

    329

     

     

     

    304

     

     

     

    641

     

     

     

    606

     

    Gain from changes in fair value of commodity and foreign exchange (“FX”) derivatives, net (1)

     

    (1,479

    )

     

     

    (606

    )

     

     

    (917

    )

     

     

    (321

    )

    Total non-cash compensation expense

     

    35

     

     

     

    33

     

     

     

    72

     

     

     

    65

     

    Other operating costs and expenses

     

    1

     

     

     

    3

     

     

     

    1

     

     

     

    3

     

    Consolidated Adjusted EBITDA

    $

    1,416

     

     

    $

    1,322

     

     

    $

    3,288

     

     

    $

    3,095

     

    ________________

    (1)

    Change in fair value of commodity and FX derivatives prior to contractual delivery or termination

    Consolidated Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our Consolidated Financial Statements to assess the financial performance of our assets without regard to financing methods, capital structures, or historical cost basis. Consolidated Adjusted EBITDA is not intended to represent cash flows from operations or net income as defined by U.S. GAAP and is not necessarily comparable to similarly titled measures reported by other companies.

    We believe Consolidated Adjusted EBITDA provides relevant and useful information to management, investors and other users of our financial information in evaluating the effectiveness of our operating performance in a manner that is consistent with management’s evaluation of financial and operating performance.

    Consolidated Adjusted EBITDA is calculated by taking net income attributable to Cheniere before net income attributable to non-controlling interests, interest expense, net of capitalized interest, taxes, depreciation, amortization and accretion expense, and adjusting for the effects of certain non-cash items, other non-operating income or expense items, and other items not otherwise predictive or indicative of ongoing operating performance, including the effects of modification or extinguishment of debt, impairment expense, gain or loss on disposal of assets, changes in the fair value of our commodity and FX derivatives prior to contractual delivery or termination, and non-cash compensation expense. The change in fair value of commodity and FX derivatives is considered in determining Consolidated Adjusted EBITDA given that the timing of recognizing gains and losses on these derivative contracts differs from the recognition of the related item economically hedged. We believe the exclusion of these items enables investors and other users of our financial information to assess our sequential and year-over-year performance and operating trends on a more comparable basis and is consistent with management’s own evaluation of performance.

    Consolidated Adjusted EBITDA and Distributable Cash Flow

    The following table reconciles our actual Consolidated Adjusted EBITDA and Distributable Cash Flow to Net income attributable to Cheniere for the three and six months ended June 30, 2025 and forecast amounts for full year 2025 (in billions):

     

     

    Three Months

    Ended June 30,

     

    Six Months

    Ended June 30,

     

    Full Year

     

     

     

    2025

     

     

     

    2025

     

     

    2025

    Net income attributable to Cheniere

     

    $

    1.63

     

     

    $

    1.98

     

     

    $

    3.1

     

    $

    3.4

     

    Net income attributable to non-controlling interests

     

     

    0.27

     

     

     

    0.59

     

     

     

    1.2

     

     

    1.2

     

    Income tax provision

     

     

    0.43

     

     

     

    0.55

     

     

     

    0.9

     

     

    1.0

     

    Interest expense, net of capitalized interest

     

     

    0.24

     

     

     

    0.47

     

     

     

    0.9

     

     

    0.9

     

    Depreciation, amortization and accretion expense

     

     

    0.33

     

     

     

    0.64

     

     

     

    1.3

     

     

    1.3

     

    Other income, financing costs, and certain non-cash operating expenses

     

     

    (1.47

    )

     

     

    (0.93

    )

     

     

    (0.8

    )

     

    (0.7

    )

    Consolidated Adjusted EBITDA

     

    $

    1.42

     

     

    $

    3.29

     

     

    $

    6.6

     

    $

    7.0

     

    Interest expense, net of interest income, capitalized interest and amortization

     

     

    (0.19

    )

     

     

    (0.35

    )

     

     

    (0.8

    )

     

    (0.8

    )

    Maintenance capital expenditures

     

     

    (0.06

    )

     

     

    (0.09

    )

     

     

    (0.2

    )

     

    (0.2

    )

    Income tax (excludes deferred taxes)(1)

     

     

    (0.02

    )

     

     

    (0.11

    )

     

     

    (0.1

    )

     

    0.0

     

    Other income (expense)

     

     

    (0.02

    )

     

     

    (0.06

    )

     

     

    (0.1

    )

     

    (0.1

    )

    Consolidated Distributable Cash Flow

     

    $

    1.13

     

     

    $

    2.68

     

     

    $

    5.4

     

    $

    6.0

     

    Distributable Cash Flow attributable to non-controlling interests

     

     

    (0.20

    )

     

     

    (0.48

    )

     

     

    (1.0

    )

     

    (1.2

    )

    Cheniere Distributable Cash Flow

     

    $

    0.92

     

     

    $

    2.19

     

     

    $

    4.4

     

    $

    4.8

     

    ________________

    Note: Totals may not sum due to rounding.

    (1) Our cash tax payments are subject to commodity and market volatility, regulatory changes and other factors which could significantly impact both the timing and amount of our future cash tax payments. Our 2025 full year Distributable Cash Flow guidance reflects current tax law and does not consider any prospective changes to local, domestic or international tax laws and regulations, or their interpretation and application. Our actual results could differ materially from our guidance due to such risks, uncertainties and other factors, including those set forth in Risk Factors or as disclosed under Operating Cash Flows in Sources and Uses of Cash within Liquidity and Capital Resources of the Cheniere Energy, Inc. Quarterly Report on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025 and Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission.

    Distributable Cash Flow is defined as cash generated from the operations of Cheniere and its subsidiaries and adjusted for non-controlling interests. The Distributable Cash Flow of Cheniere’s subsidiaries is calculated by taking the subsidiaries’ EBITDA less interest expense, net of capitalized interest, taxes, maintenance capital expenditures and other non-operating income or expense items, and adjusting for the effect of certain non-cash items and other items not otherwise predictive or indicative of ongoing operating performance, including the effects of modification or extinguishment of debt, amortization of debt issue costs, premiums or discounts, impairment of equity method investment and deferred taxes. Cheniere’s Distributable Cash Flow includes 100% of the Distributable Cash Flow of Cheniere’s wholly-owned subsidiaries. For subsidiaries with non-controlling investors, our share of Distributable Cash Flow is calculated as the Distributable Cash Flow of the subsidiary reduced by the economic interest of the non-controlling investors as if 100% of the Distributable Cash Flow were distributed in order to reflect our ownership interests and our incentive distribution rights, if applicable. The Distributable Cash Flow attributable to non-controlling interests is calculated in the same method as Distributions to non-controlling interests as presented on our Consolidated Statements of Stockholders’ Equity (Deficit) in our Forms 10-Q and Forms 10-K filed with the Securities and Exchange Commission. This amount may differ from the actual distributions paid to non-controlling investors by the subsidiary for a particular period.

    We believe Distributable Cash Flow is a useful performance measure for management, investors and other users of our financial information to evaluate our performance and to measure and estimate the ability of our assets to generate cash earnings after servicing our debt, paying cash taxes and expending sustaining capital, that could be considered for deployment by our Board of Directors pursuant to our capital allocation plan, such as by way of common stock dividends, stock repurchases, retirement of debt, or expansion capital expenditures1. Distributable Cash Flow is not intended to represent cash flows from operations or net income as defined by U.S. GAAP and is not necessarily comparable to similarly titled measures reported by other companies.

    ________________

    1

    Capital spending for our business consists primarily of:

     

    • Maintenance capital expenditures. These expenditures include costs which qualify for capitalization that are required to sustain property, plant and equipment reliability and safety and to address environmental or other regulatory requirements rather than to generate incremental distributable cash flow; and

    • Expansion capital expenditures. These expenditures are undertaken primarily to generate incremental distributable cash flow and include investment in accretive organic growth, acquisition or construction of additional complementary assets to grow our business, along with expenditures to enhance the productivity and efficiency of our existing facilities.

     

    Cheniere Energy, Inc.

    Investors

    Randy Bhatia, 713-375-5479

    Frances Smith, 713-375-5753

    Media Relations

    Randy Bhatia, 713-375-5479

    Bernardo Fallas, 713-375-5593

    Source: Cheniere Energy, Inc.

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