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  • MIL-OSI China: Traditional folk dance as cultural link

    Source: China State Council Information Office 3

    Drawn by the rhythmic beats of drums and spirited shouts, Thanita Raemee, a 20-year-old Thai exchange student, navigated through winding streets and bustling alleys until she arrived at the dynamic training grounds of the Ximen Women’s Yingge Dance Team.

    Founded in 1952, this pioneering all-female team is the first of its kind in the Chaoshan region of south China’s Guangdong Province, with members ranging from teenagers to nearly 80-year-olds. Performers come from all walks of life — spirited young girls, agile middle-aged men, and even food delivery workers dancing between shifts.

    The Yingge dance, or “dance to the hero’s song,” is a form of folk dance popular in south China’s Guangdong Province. Dating back to the Ming Dynasty (1368-1644), this traditional dance is often performed during traditional Chinese festivals. As a dynamic blend of theater, dance, and martial arts, it was listed among the first batch of national intangible cultural heritage in 2006.

    Once a traditional folk performance, Yingge dance saw a recent surge in popularity. Videos of its energetic routines have flooded social media, earning it the title of the “ultimate Chinese New Year atmosphere booster.”

    While men’s Yingge performances are inspired by the legendary “Water Margin,” one of the four great classical novels in Chinese literature, the women’s routines often draw from the tales of legendary Chinese heroines like Mu Guiying and Hua Mulan.

    Thanita watched in awe as the dancers moved in perfect unison, their forms embodying both strength and grace.

    “Incredible! How do they stay so synchronized? Compared to traditional Thai dance, this feels much more powerful and rhythmic — it’s exhilarating!” she exclaimed.

    “Most of our members are under 20, balancing their studies and work. They train purely out of passion,” said the team’s coach Wu Yanhua, who left her job as a kindergarten teacher to focus on the team’s revival in 2011.

    That passion was evident in every interaction. “My teammates take turns helping me with childcare. Yingge dance is part of my life — I even dream about it,” said a team member Zhou Yixiang while gently rocking her five-month-old baby in a stroller.

    Six-year-old Huang Kexin eagerly demonstrated snake-dance moves she had just learned, hopping and twirling with a delightful burst of playful energy. Meanwhile, 11-year-old Lin Yahan patiently taught Thanita how to grip the Yingge hammer properly, while her twin sister nodded in encouragement.

    During the recently concluded Spring Festival holiday, homestay tourism flourished across China. Shantou, a key city in Chaoshan known for its rich New Year traditions, saw bookings soar 13 times from last year. Lion dance, Yingge dance and other traditional performances have become festival favorites.

    Thanita has family roots in Chaoshan — her father is an overseas Chinese descendant. For her, Yingge dance serves as a bridge between Chinese and Thai cultures. In fact, many in Thailand are already familiar with the dance.

    In early 2023, a Thai Yingge team’s electrifying performance at a shopping mall in Thailand went viral, and later that year, the Yingge cultural exchange group from Thailand visited Chaoshan to engage with local dancers.

    This year, Yingge dance teams from Shantou have also been invited to perform on multiple overseas stages for the Spring Festival celebrations.

    Organized by the Department of Culture and Tourism of Guangdong Province, the 25-member Yingge team toured Germany and France from Jan. 28 to Feb. 4. They performed in cities like Hanau, Frankfurt, Paris, and Lyon, sharing the vibrant charm of Yingge dance.

    Studying international Chinese education at Shantou University, Thanita deeply admires the dedication and enthusiasm of Yingge performers.

    “One of my goals in coming to China was to explore the traditions my ancestors once lived by. Yingge has expanded my understanding of Chaoshan and Chinese culture while revealing the cultural ties between China and Thailand,” she said.

    MIL OSI China News –

  • MIL-OSI New Zealand: Fatal crash: Mouse Point Road, Hurunui

    Source: New Zealand Police (District News)

    Police can confirm one person has died following a crash in Hurunui this afternoon.

    The two-vehicle crash on Mouse Point Road was reported just after 4:20pm.

    The person died at the scene, no further injuries were reported.

    The road remains closed while the Serious Crash Unit conduct a scene examination.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Europe: Press release – EP TODAY, Tuesday, 11 February

    Source: European Parliament 3

    EU response to tariff threats from the Trump administration

    From 9.00, plenary will debate with Commissioner Šefčovič and Polish Minister for EU Affairs Szłapka the current state of EU-US trade relations, multilateralism and the EU’s potential responses if the US imposes tariffs on European products.

    Eszter ZALÁN

    (+32) 477 99 20 73

    EP Trade

    Three years of Russia’s war in Ukraine

    Starting around 10.00, MEPs will assess the impact of Russia’s three-year long war against Ukraine and the EU’s unwavering support for the country, in a debate with Commissioner Kos and Polish Minister for EU Affairs Adam Szłapka. They will vote on a resolution during the March plenary session. Ruslan Stefanchuk, Chairman of the Ukrainian Verkhovna Rada, will address MEPs in a formal sitting at noon.

    Viktor ALMQVIST

    (+32) 470 88 29 42

    EP_ForeignAff

    Snjezana KOBESCAK SMODIS

    (+32) 470 96 08 19

    EP_ForeignAff

    EU’s strategy for the Middle East

    At around 15.00, MEPs will discuss the latest developments in the Middle East and a future EU strategy for the region, in a debate with Commissioner Šuica and Polish Minister for EU Affairs Szłapka.

    Snjezana KOBESCAK SMODIS

    (+32) 470 96 08 19

    EP_ForeignAff

    Viktor ALMQVIST

    (+32) 470 88 29 42

    EP_ForeignAff

    Digital Services Act/Media seminar

    Starting at 14.00, Parliament’s Press Service will organise a press seminar on “Defending Europe’s Digital Integrity: Addressing Social Media Challenges and Foreign Interference” with the participation of leading MEPs on the issue. You can follow the seminar live.

    Yasmina YAKIMOVA

    (+32) 470 88 10 60

    EP_SingleMarket

    In brief

    US restriction of chips exports to EU countries. Plenary will quiz Commission Vice-President Virkkunen on how to address the US decision to restrict the export of chips used for artificial intelligence models to certain EU member states, from around 20.00.

    Violence escalation in Congo. Parliament will assess the conflict and humanitarian crisis in the Democratic Republic of Congo (DRC) with the Council and Commission, in a debate starting around 16.00. A resolution will be put to a vote on Thursday.

    Protecting the system of international justice. In the evening, starting around 21.00, plenary will discuss defending the system of international justice and its institutions, in particular the International Criminal Court and the International Court of Justice., with Commissioner McGrath and Polish Minister for EU Affairs Szłapka.

    Health care sector. The challenges posed by a shortage of healthcare professionals across the EU, as well as the quality of jobs in the sector, will be the focus of a debate with Commission Vice-President Mînzatu in the early afternoon, immediately after the voting session.

    Anti-government unrest in Serbia. From around 17.00, MEPs will analyse with Commissioner Kos and Polish Minister for EU Affairs Szłapka the situation in Serbia, where a deadly railway station canopy collapse has sparked an anti-corruption movement and student-led protest against the government.

    Votes

    Plenary will vote at 12.00 among others on:

    • an updated fisheries agreement with Cabo Verde, and
    • Parliament’s assessment of ECB’s activities in 2024.

    Live coverage of the plenary session can be found on Parliament’s webstreaming and on EbS+.

    For detailed information on the session, please also see our newsletter.

    Find more information regarding plenary.

    MIL OSI Europe News –

  • MIL-OSI: Equinor ASA: Share buy-back – first tranche for 2025

    Source: GlobeNewswire (MIL-OSI)

    Please see below information about transactions made under the first tranche of the 2025 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).

    Date on which the tranche was announced: 5 February 2025.

    The duration of the tranche: 6 February to no later than 2 April 2025.

    Further information on the tranche can be found in the stock market announcement on its commencement dated 5 February 2025, available here: https://newsweb.oslobors.no/message/637712

    From 6 February to 7 February 2025, Equinor ASA has purchased a total of 1,200,000 own shares at an average price of NOK 266.0754 per share.

    Overview of transactions:

    Date Trading venue Aggregated daily volume (number of shares) Weighted average share price (NOK) Total transaction value (NOK)
             
    6 February OSE 600,000 269.0584 161,435,040.00
      CEUX      
      TQEX      
             
    7 February OSE 600,000 263.0924 157,855,440.00
      CEUX      
      TQEX      
             
    Total for the period OSE 1,200,000 266.0754 319,290,480.00
      CEUX      
      TQEX      
             
    Previously disclosed buy-backs under the tranche OSE      
    CEUX      
    TQEX      
    Total      
             
    Total buy-backs under the tranche (accumulated) OSE 1,200,000 266.0754 319,290,480.00
    CEUX      
    TQEX      
    Total 1,200,000 266.0754 319,290,480.00

     
    Following the completion of the above transactions, Equinor ASA owns a total of 69,743,662 own shares, corresponding to 2.50% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 62,356,027 own shares, corresponding to 2.23% of the share capital).

    This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

    Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.

    Contact details:

    Investor relations
    Bård Glad Pedersen, senior vice president Investor Relations,
    +47 918 01 791

    Media
    Sissel Rinde, vice president Media Relations,
    +47 412 60 584

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Adriana D Kugler: Entrepreneurship and aggregate productivity

    Source: Bank for International Settlements

    Thank you, Jon, and thank you for the opportunity to speak to you today. It is such a pleasure to be back in Miami, a city I have seen grow and become ever more dynamic over the decades, as I have come many times to visit my large extended family here ever since the 1980s.

    As I discussed in my final speech of 2024, two positive supply shocks have significantly benefited the U.S. economy over the past two years and have also affected the conduct of monetary policy.

    The first of these has been the surge in population over the past few years that has helped bring labor supply into balance with labor demand and, thus, also helped move inflation toward the Federal Open Market Committee’s (FOMC) 2 percent goal. The other positive supply shock, which I outlined in my remarks in December, has been a step-up in aggregate productivity growth since 2020, which is an increase in the amount of economic output, across the economy, per hour worked or some other unit of labor. Although productivity growth, measured quarterly, can be quite volatile, over the past five years this acceleration is quite evident. While productivity grew by about 1.5 percent a year from 2005 to 2019, starting in 2020 it has grown about 2 percent a year. This difference may not look dramatic, but because of compounding year-over-year, the consequences of an additional 1/2 percentage point in growth over the past five years are significant for workers and the U.S. economy. When workers are more productive, it effectively means that businesses can produce more without needing to add workers, and that they can pay workers more without needing to raise prices. When they are more productive, it can also serve as an incentive for businesses to expand. Across the economy, higher productivity growth means that real wages and living standards for workers can rise faster without putting upward pressure on inflation.

    And that is exactly what has been happening recently, a period when inflation has been falling while the economy is expanding. While fast growth in wages was one of the factors driving inflation in 2021 and 2022, most likely some of that increase was due to productivity growth and, hence, was not inflationary. If productivity continues to grow at an accelerated pace, it would support the FOMC’s efforts to keep unemployment low and return inflation to a sustained level of 2 percent. For that reason, I would like to spend the balance of my remarks exploring some of the possible reasons why productivity has accelerated, and the prospects that this fortunate development will continue.

    MIL OSI Economics –

  • MIL-OSI Economics: Tiff Macklem: Structural change, supply shocks and hard choices

    Source: Bank for International Settlements

    Good afternoon. I’m pleased to be able to join you virtually to talk about the challenges that lie ahead for central banks. There’s a lot to discuss.

    But my first order of business is to congratulate and thank Agustín Carstens for his leadership as General Manager of the Bank for International Settlements (BIS). Your term, Agustín, has been marked by significant global upheaval-from pandemic shutdowns to war in Europe and double-digit inflation. These past few years have not been easy.

    Through it all, you have been a source of unwavering wisdom. Your clear thinking in the face of the unknown, your long view and your deep understanding of our global interdependence-all combined with the experience and pragmatism of a former minister of finance and then central bank governor-have made you an invaluable leader.

    More than that, through the BIS, you’ve brought us together with your friendship and your ability to get directly to the heart of the issue. You’ve helped us learn from each other. And you’ve made us better together.

    I know there will be an opportunity to celebrate you in Basel as your retirement in June approaches. But I wanted to recognize your exceptional leadership in your home country. For those of us in the Americas, your special interest in our region has been deeply appreciated. Whatever you do next, I know Mexico and the Americas will be an important part. Thank you, my friend.

    Now, let me turn to the challenges ahead. We are facing a global economic landscape that has shifted in recent years, and this shift has important implications for central banks.

    As Agustín has highlighted in a series of insightful speeches, the structural tailwinds of peace, globalization and demographics are turning into headwinds-and the world looks increasingly shock-prone.

    Higher long-term interest rates, elevated sovereign debt, slower economic growth and lagging productivity make all of our economies more vulnerable. Compounding these vulnerabilities are war, rising trade protectionism and economic fragmentation. In addition, new technologies-including artificial intelligence-are set to disrupt existing industries and create new ones. And we are seeing more frequent catastrophic weather events as the impacts of climate change become more pervasive.

    As 2025 begins, we are facing new uncertainty with a shift in policy direction in the United States. President Donald Trump’s threats of new tariffs are already affecting business and household confidence, particularly in Canada and Mexico. The longer this uncertainty persists, the more it will weigh on economic activity in our countries.

    If significant broad-based tariffs are indeed imposed, they will test the resilience of our economies in the short run and reduce long-run prosperity. Tariffs mean economies work less efficiently. There will be less investment and lower productivity. That means our countries will produce less and earn less. Monetary policy can’t change that.

    What monetary policy can do is help with the short-run adjustment. But even here, monetary policy has to strike a balance. Significant, broad-based tariffs will sharply reduce demand for our exports. At the same time, a weaker exchange rate, retaliatory tariffs and supply chain disruptions will raise import prices, putting upward pressure on inflation.   

    With a single instrument-our policy interest rate-central banks can’t lean against weaker output and higher inflation at the same time. So we will need to carefully assess the downward pressure on inflation from weaker economic activity, and weigh that against the upward pressures from higher input prices and supply chain disruptions.

    Other structural headwinds pose similar challenges for monetary policy. They’ll impact both demand and supply, slowing growth while adding cost. Monetary policy cannot address these headwinds directly or offset their economic consequences.

    In a world with more structural change and more negative supply shocks, central banks will be faced with harder choices. And harder choices bring risks of public disappointment and frustration. We will face criticism about our decisions-and about how well monetary policy is seen to have worked when confronted with forces that are mostly out of our hands. We will be called ineffective or criticized for not doing enough. And some will challenge our independence.

    So, what can all of us do?

    First, we can be humble about what we don’t know, but also confident in the effectiveness of our frameworks. We didn’t get everything right through the pandemic. And elevated inflation and higher interest rates have been difficult for our citizens. But in Canada, as in many other countries, inflation has come down. And we restored low inflation without causing a recession or major job losses.

    Guided by our frameworks, we can maintain confidence in price stability.

    Second, we can be just as clear about what monetary policy cannot do. There will always be forces beyond our influence, and while we need to understand those forces, we should also be clear that understanding is not the same as controlling. And we need to avoid the temptation to overload monetary policy by expecting more of it than it can deliver.

    Third, we can recognize that the world has changed. Structural headwinds and supply shocks require different types of information and analysis. This means investing in richer information about the supply side of the economy and building models that can analyze sectoral shocks and their transmission. It means reaching out and listening to households and businesses. It means looking at our economies through different lenses, regularly challenging our assumptions, and using scenarios to help manage uncertainty.

    Fourth, let’s acknowledge that working together has never been easy and it’s getting harder. But let’s also remember that it’s important. We are more effective if we confront our shared challenges together. The shared resolve of central banks to fight the post-pandemic surge in inflation helped all of us bring inflation down. This was a positive international spillover and, together, we can generate other positive international spillovers.

    Finally, we need to remain evidence-based, technocratic and professional, and free of political influence. We need to be open, accountable and transparent. And we need to be learning institutions-when faced with valid criticism, we should critically evaluate our policy actions and be willing to improve. Being independent and accountable and continuously learning is how we build trust.

    The world is a tougher place today than it was a few short years ago. And facing the headwinds before us will not be easy. But that’s why we have independent central banks-we are designed for tough times.

    I look forward to hearing from my esteemed colleagues on this panel.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN receives delegation of Australian Senior Media Editors

    Source: ASEAN

    At the ASEAN Headquarters/ASEAN Secretariat today, Secretary-General of ASEAN, Dr. Kao Kim Hourn, received a group of senior media editors from Australia. SG Dr. Kao shared his views on the contributions of ASEAN-Australia Comprehensive Strategic Partnership to the ASEAN’s community-building efforts and underscored the important role of media in encouraging greater cooperation between ASEAN and Australia, especially in the areas of trade, investment, tourism and connectivity, among others. The delegation is currently visiting Indonesia as part of the Senior Editors Program, a flagship programme of the Australia-Indonesia Institute.

    The post Secretary-General of ASEAN receives delegation of Australian Senior Media Editors appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with new Executive Director of the ASEAN Centre for Energy

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received a courtesy call from the new Executive Director of the ASEAN Centre for Energy (ACE), Dato’ Ir. Ts. Abdul Razib Dawood, at the ASEAN Headquarters/ASEAN Secretariat. During their meeting, they discussed, among others, advancing regional energy security, sustainability, and key priorities under the ASEAN Plan of Action for Energy Cooperation (APAEC), including the ASEAN Power Grid and the clean energy transition.

    The post Secretary-General of ASEAN meets with new Executive Director of the ASEAN Centre for Energy appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Applications invited for special UK visa route

    Source: United Kingdom – Executive Government & Departments

    The UK-India Young Professionals Scheme (YPS) 2025 ballot will open next week.

    The UK-India Young Professionals Scheme (YPS) 2025 ballot will open next week. This bespoke visa scheme offers Brits and Indians the unique opportunity to live, study, travel, and work in the other country for up to two years.

    Indian nationals aged 18 to 30 must enter the ballot on gov.uk to be considered for one of the 3,000 spots available under the scheme. The ballot is scheduled to open on 18 February and close on 20 February. Applicants do not need to pay to enter the ballot, and successful entries will be picked at random.

    Applicants must be at least 18 years old on the date they plan to travel to the UK. They must also have a qualification at UK bachelor’s degree level or above and have proof of £2,530 in savings to support themselves in the UK. Applicants should ensure they meet all eligibility requirements before entering the ballot.

    Lindy Cameron, British High Commissioner to India, said:

    The Young Professionals Scheme is an excellent programme which helps build a modern understanding of our countries among Brits and Indians alike. I strongly encourage people from all corners of the country to apply – from Itanagar to Coimbatore, from Leh to Surat, and from Bhubaneshwar to Indore.

    Further information

    • launched in February 2023, the UK-India Young Professionals Scheme (YPS) is a bespoke, reciprocal scheme under which UK and Indian nationals who are aged 18 to 30 can live, study, travel and work in the other country for up two years. The opening of the ballot will be announced on GOV.UK. See eligibility conditions for entering the YPS ballot

    • the YPS ballot for Indian nationals wanting to travel to the UK is free to enter. Those selected from the ballot will be notified via email within two weeks of the ballot closing and will be invited to apply for the visa. They will then have 90 days from the date of the email informing them of their success in the ballot to make an application to the UK Home Office via the online application form, provide their biometrics and pay all associated fees, including the visa application fee and immigration health surcharge

    • selected applicants must mandatorily return to India after completing two years in the UK under this scheme

    • there were over 2,100 YPS visas issued to Indian nationals in the year ending December 2023

    • all UK visa customers should beware of visa agents or any such agencies that promise a visa under this scheme by paying money. See guidance on protecting yourself from any kind of visa and immigration fraud

    • official guidance for Brits looking to travel to India under the scheme can be found on the website of the High Commission of India in London

    Media

    For media queries, contact:

    David Russell, Communications Counsellor and Spokesperson,
    British High Commission, Chanakyapuri,
    New Delhi 110021. Tel: 24192100

    Media queries: BHCMediaDelhi@fcdo.gov.uk

    Follow us on Twitter, Facebook, Instagram, Flickr, Youtube and LinkedIn

    Updates to this page

    Published 11 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Secretary-General on the situation in Gaza

    Source: United Nations – English

    e must avoid at all costs the resumption of hostilities in Gaza that would lead to an immense tragedy.
     
    I appeal to Hamas to proceed with the planned liberation of hostages next Saturday.
     
    Both sides must fully abide by their commitments in the cease-fire agreement and resume serious negotiations in Doha for the second phase.
     
    António Guterres
     

    MIL OSI Africa –

  • MIL-OSI Africa: Secretary-General’s message on the International Day of Women and Girls in Science [scroll down for French version]

    Source: United Nations – English

    en years ago, the first International Day of Women and Girls in Science recognized a fundamental truth: women’s participation is essential for building a better world through science and technology. I saw that enormous potential firsthand when I was teaching engineering, and I saw the remarkable talent, creativity, and determination of countless women scientists.

    Yet today, women still represent just one-third of the global scientific community. Deprived of adequate funding, publishing opportunities and leadership positions in universities, women and girls continue to face an uphill battle in building careers in science, technology, engineering and math (STEM).

    Look no further than the development of new digital technologies. Men dominate the field at every level—including in Artificial Intelligence. The result is a surge of biased algorithms and embedded inequality, risking a new era of digital chauvinism.

    The more that women are excluded from STEM, the more we limit our collective power to address urgent global challenges, from climate change and food security to public health and technological transformation.

    We can and must do more to level the playing field

    By expanding scholarships, internships and mentorship opportunities to open doors for women and girls in STEM; creating workplaces that attract, retain and advance women in science; encouraging girls’ engagement in STEM from an early age; championing women leaders in science through the media; and dismantling gender stereotypes.

    The Pact for the Future, agreed last September by Member States, gives renewed momentum to these goals by committing to address barriers preventing the full, equal and meaningful access for women and girls in scientific fields.  

    On the tenth anniversary of this important day, and as we reflect on 30 years since the Beijing Declaration, let’s help pave a path to STEM careers that women and girls deserve – and our world needs.

    ***
    Il y a dix ans, la première Journée internationale des femmes et des filles de science consacrait une vérité fondamentale : la participation des femmes est essentielle pour bâtir un monde meilleur grâce à la science et à la technologie. J’ai pu constater par moi-même l’incroyable potentiel des femmes lorsque j’enseignais l’ingénierie, et j’ai vu le talent, la créativité et la détermination remarquables d’innombrables femmes de science.

    Or, à l’heure actuelle, les femmes ne représentent qu’un tiers des scientifiques dans le monde. Privées de financements adéquats, de possibilités de publication et de postes de direction dans les universités, les femmes et les filles ont encore d’innombrables obstacles à surmonter pour faire carrière dans le domaine des sciences, de la technologie, de l’ingénierie et des mathématiques (STIM).

    Pour s’en convaincre, il suffit d’observer le développement des nouvelles technologies numériques. Les hommes dominent le secteur à tous les niveaux, notamment dans l’intelligence artificielle. Il en résulte un déferlement d’algorithmes biaisés qui perpétuent des inégalités bien ancrées et risquent d’ouvrir une nouvelle ère de machisme numérique.

    Plus les femmes sont exclues des STIM, plus nous limitons notre capacité collective de relever les défis urgents qui se posent dans le monde, qu’il s’agisse des changements climatiques, de la sécurité alimentaire, de la santé publique ou de la transformation technologique.

    Nous pouvons et devons en faire plus pour que les femmes aient véritablement les mêmes chances que les hommes :

    Il nous faut élargir les programmes de bourses d’études, de stage et de mentorat afin d’ouvrir aux femmes la porte des STIM ; créer dans ce secteur des lieux de travail qui attirent et retiennent les femmes et dans lesquels elles peuvent progresser ; encourager les filles à s’engager sur la voie des STIM dès leur plus jeune âge ; promouvoir, dans les médias, le leadership des femmes dans le domaine de la science ; venir à bout des stéréotypes de genre.

    Le Pacte pour l’avenir, adopté par les États Membres en septembre dernier, crée une nouvelle dynamique pour la réalisation de ces objectifs. En effet, les États Membres s’y sont engagés à lever les obstacles qui empêchent les femmes et les filles d’accéder pleinement et véritablement, dans des conditions d’égalité, aux filières scientifiques.

    En ce jour où nous célébrons, pour la dixième année, cette importante journée, et alors que nous réfléchissons aux 30 années qui se sont écoulées depuis l’adoption de la Déclaration de Beijing, agissons pour que les femmes et les filles puissent mener, dans le domaine des STIM, les carrières qu’elles méritent – et dont le monde a besoin.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Capacity Market auction parameters: letter from DESNZ to NESO, February 2025

    Source: United Kingdom – Executive Government & Departments

    Letter confirming adjustments to the parameters for the Capacity Market auctions for delivery years 2025 to 2026 and 2028 to 2029.

    Documents

    Capacity Market auction parameters: letter from DESNZ to NESO, February 2025

    PDF, 133 KB, 1 page

    Final auction parameters, T-1 and T-4 Capacity Market auctions

    HTML

    Details

    Letter from the Secretary of State to National Energy System Operator (NESO) setting out adjustments to: 

    • the one-year ahead (T-1) auction for the delivery year 2025 to 2026 

    • the four-year ahead (T-4) auction for the delivery year 2028 to 2029 

    and table setting out final auction parameters for the T-1 and T-4 auctions.

    Updates to this page

    Published 11 February 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    February 11, 2025

    Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    February 11, 2025

    Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    February 11, 2025

    Previous news Next news

    Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    As part of his working visit to Khabarovsk Krai, Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev visited the enterprises of PJSC UAC in Komsomolsk-on-Amur – the Komsomolsk-on-Amur Aviation Plant named after Yuri Gagarin (KnAAZ) and the production center of PJSC Yakovlev, where the Superjet-100 is assembled, and also visited the investment site for the production of the Baikal aircraft and got acquainted with the work of the Amur Shipbuilding Plant of USC. The Deputy Prime Minister was accompanied on his trip by the Governor of Khabarovsk Krai Dmitry Demeshin.

    At KnAAZ, Yuri Trutnev inspected a new titanium alloy processing shop, an assembly line, including a final assembly shop for Su-35S and Su-57 aircraft, and the construction of new flight test station facilities. The implementation of the project to build facilities and new industrial capacities at KnAAZ are necessary to increase the serial production of fifth-generation aircraft. The Deputy Prime Minister was shown areas where work is being carried out within the framework of cooperation: on the import-substituting Superjet-100 and MS-21.

    In the technocomplex of the production center of PAO Yakovlev, Yuri Trutnev was shown the first line in Russia for the production of doors for the import-substituted version of the Superjet – previously, these units were manufactured abroad. Doors manufactured on the new line meet the most modern aviation safety standards. A specialization center for the production of doors for other Russian civil aircraft is being created on the basis of the technocomplex.

    In the final assembly shop, the director of the production center Andrey Soynov spoke about the current work and prospects of the enterprise. The center, which employs more than 1 thousand people, is preparing for the serial production of fully import-substituted Superjet-100 aircraft. The production modernization program provides for the expansion of the final assembly shop to organize a straight-through conveyor and the construction of a new hangar for the flight test station. The production capacity of the updated enterprise will be at least 20 Superjet-100 aircraft per year.

    “The supply of domestic aircraft for air transportation in the Far East is our priority task. We, like no one else, understand the need to connect the cities of our region. The Yakovlev company has already concluded an agreement on the supply of Superjets to the Aurora airline, and we will make every effort to fulfill this order,” Andrey Soynov emphasized.

    As part of his trip to Komsomolsk-on-Amur, Yuri Trutnev visited an investment site being created for a comprehensive center for the development of regional and unmanned aviation production and the production of the Baikal light multipurpose aircraft. The construction of a production building for the assembly of the Baikal aircraft with the necessary engineering infrastructure is being carried out on the advanced development area in close proximity to the Dzyomgi airfield and the facilities of the United Aircraft Corporation (UAC). Work on the site is scheduled to be completed by the end of 2025. Construction of facilities for the production of the Baikal light aircraft began in January 2024. The project is being implemented on the instructions of President of the country Vladimir Putin and as part of the long-term development plan for Komsomolsk-on-Amur, the activities of which are included in the city’s master plan. Currently, the zero cycle work on the formation of the land plot is being completed, and the pouring of foundations continues. The total area of buildings and structures will be almost 10.4 thousand square meters. m. The complex will produce up to 20 aircraft per year. 80 jobs will be created.

    The developer of the Baikal aircraft is the Ural Works of Civil Aviation (UZGA). The aircraft will be manufactured by UZGA subsidiary Spetsaviatekhnika LLC, a resident of the Khabarovsk priority development area. It is planned that Baikal will be equipped with a domestic VK-800 engine. This aircraft is being created to improve the transport accessibility of remote regions of Russia and to develop local air routes. The key parameters of the aircraft were determined in accordance with the requirements of regional airlines: 2 tons of payload, flight range of 1.5 thousand km, cruising speed of 300 km/h.

    Yuri Trutnev also got acquainted with the work of the Amur Shipyard of USC, one of the largest shipbuilding enterprises in the Far East. During the inspection, the Deputy Prime Minister visited the slipway shop. The management of the enterprise reported on the orders under construction and prospective orders. The Deputy Prime Minister got acquainted with the progress of construction of the new dock-pontoon “Amurets” of project 65911, which is being built for the plant’s own needs as part of the USC dock program.

    The dock-pontoon was laid down in June 2023. Its main purpose is to ensure the removal of factory orders from the workshop and their transfer to the outfitting pier. The company has completed a large amount of work on the construction. On the dock-pontoon, the hull of which is currently being assembled on an open slipway, the assembly joints of the first three blocks have been thoroughly welded and presented to the register, and all assembly work on the fourth has been completed. In March, when the average daily temperature rises to normal, welding work on the dock-pontoon will resume, and the docking of the order hull will continue.

    The plant’s production program includes the construction of a floating transport dock for the transfer of plant orders to the outfitting base in Vladivostok and the reconstruction of the dockside unit of the plant’s outfitting complex. This will allow the enterprise to build a promising line of ships and vessels of greater width and tonnage than is currently possible, and to transport orders to the delivery base in Primorye using its own resources.

    Yuri Trutnev discussed with the General Director of the Amur Shipyard of USC Mikhail Borovsky the issues of the enterprise’s workload in terms of placing orders on the Amur Shipyard’s slipways for the development and maintenance of the oil and gas shelf – supply vessels and ice-class rescue vessels. The plant already has experience in building such orders: in 2018 and 2020, the plant built and handed over to the customer (OOO Gazprom Flot) two supply vessels for work with semi-submersible floating units. The built vessels belong to the highest class of automation and are capable of performing a wide range of tasks – from transporting goods and people to eliminating the consequences of natural disasters and extinguishing fires.

    At the commissioning base of the Amur Shipyard of USC, work is underway to prepare for testing the multifunctional emergency rescue vessel with a capacity of 7 MW, the Kerch Strait, which is being built to operate in high latitudes and has a sufficient margin of safety for sailing in freezing non-Arctic seas.

    “I always come to Komsomolsk-on-Amur with pleasure, because it is a working city. This is a city that protects our country. In this city, wonderful fighters are created, ships are built. We see how the work of the Amur Shipyard has changed. Previously, the enterprise had unresolved issues. And now, when the CEO reports that the enterprise is fully paying off its debts, that it is fully loaded with orders, this is, of course, great. This is good for Khabarovsk Krai, and for Komsomolsk-on-Amur, and for our entire country. The aircraft plant is fully loaded. Much remains to be done for small and large aviation. Work is going well on the Superjet-100 and fighters. We do not forget that we have debts to people for the construction of social facilities in Komsomolsk-on-Amur. And work in this direction will be accelerated. Now I have given a number of instructions and expect that the pace of work will be increased. The administration made a number of mistakes, including in the selection of contractors, but these miscalculations are of no interest to anyone. The main thing is that people get what they expect. We are trying to do this,” Yuri Trutnev summed up the results of his trip to Komsomolsk-on-Amur.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI: International Petroleum Corporation Announces 2024 Year-End Financial and Operational Results and 2025 Budget, Reserves and Guidance

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 11, 2025 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2024. IPC is also pleased to announce its 2025 budget, including that IPC continues to progress the development of the Blackrod Phase 1 project in Canada in line with schedule and budget. IPC previously announced the renewal of the normal course issuer bid (NCIB) under which IPC may acquire a further 5.3 million common shares up to December 2025, in addition to the 2.2 million common shares already purchased for cancellation under the NCIB in December 2024 and January 2025. IPC’s 2025 capital and decommissioning expenditure budget is USD 320 million and its 2025 average daily production guidance is between 43,000 and 45,000 barrels of oil equivalent (boe) per day (boepd). 2024 year-end proved plus probable (2P) reserves are 493 million boe (MMboe) and best estimate contingent resources (unrisked) are 1,107 MMboe.(1)(2)

    William Lundin, IPC’s President and Chief Executive Officer, comments: “We are very pleased to announce that IPC achieved strong operational results in 2024. Our average net production was 47,400 boepd for the full year, with very strong operational and ESG performance across all our areas of operation. 2024 was a very significant investment year for our Blackrod Phase 1 development project, and we have spent over two-thirds of the forecast capital expenditure by the end of 2024. We generated strong cash flows from our business, and we returned USD 102 million to shareholders through share buybacks in 2024. With gross cash resources of USD 247 million at 2024 year-end, we continue to be well positioned to deliver on our three strategic pillars of Organic Growth, Stakeholder Returns, and M&A that drive value creation for our stakeholders.(1)(3)

    On Organic Growth, we are very pleased with the progress of the development of Phase 1 of the Blackrod project, Canada, which remains in line with schedule and budget. Phase 1 of the Blackrod project continues to forecast first oil in late 2026, with peak production planned to increase to 30,000 bopd by 2028. In 2024, IPC achieved over 250% reserves replacement ratio, ending the year with 493 MMboe of 2P reserves, the highest in our history.(1)(2)

    On Stakeholder Returns, we completed the 2023/2024 NCIB program, purchasing and cancelling 8.3 million IPC common shares over the period of December 5, 2023 to December 4, 2024, representing approximately 6.5% of the common shares outstanding at the start of that program. We immediately recommenced purchasing under the renewed 2024/2025 NCIB, purchasing for cancellation 0.8 million common shares during December 2024 and over 1.4 million common shares during January 2024. We are permitted to purchase up to a further 5.3 million common shares by early December 2025, which will represent a 6.2% reduction in the number of shares common outstanding at the beginning of the 2024/2025 NCIB.

    On M&A, we continue to review potential opportunities in Canada and internationally. IPC’s principal focus continues to be on progressing the Blackrod Phase 1 development as well as developing our existing asset base in Canada, France and Malaysia.

    IPC is well-positioned for 2025 and beyond as our Blackrod Phase 1 project is progressing according to plan, our existing production operations continue to generate strong cash flows, and our balance sheet is strong. At the same time, we continue return value to our shareholders by repurchasing and cancelling our common shares under the NCIB. I look forward to another exciting year at IPC with our high quality assets and our highly skilled and motivated teams across all areas of operation.”

    2024 Business Highlights

    • Average net production of approximately 47,400 boepd for the fourth quarter of 2024 was in line with the guidance range for the period (51% heavy crude oil, 15% light and medium crude oil and 34% natural gas).(1)
    • Full year 2024 average net production was 47,400 boepd, above the mid-point of the 2024 annual guidance of 46,000 to 48,000 boepd.(1)
    • Development activities on Phase 1 of the Blackrod project progressed in 2024 on schedule and on budget, with forecast first oil in late 2026. All major third-party contracts have been executed and construction is advancing according to plan, including construction of the central processing facility (CPF) and well pad facilities, finalization of the midstream agreements for the input fuel gas, diluent and oil blend pipelines, and advancement of drilling operations. As at the end of 2024, over two-thirds of the forecast Blackrod Phase 1 development capital expenditure of USD 850 million has been spent since project sanction in early 2023.
    • Drilling activity at the Southern Alberta assets in Canada continued with a total of thirteen wells drilled during 2024.
    • Successful completion of planned maintenance shutdowns at Onion Lake Thermal (OLT) in Canada and the Bertam field in Malaysia during 2024.
    • 8.3 million common shares purchased and cancelled from December 2023 to early December 2024 under IPC’s 2023/2024 NCIB and a further 2.2 million common shares purchased for cancellation during December 2024 and January 2025 under the renewed 2024/2025 NCIB.
    • In Q3 2024, published IPC’s fifth annual Sustainability Report.

    2024 Financial Highlights

    • Operating costs per boe of USD 18.2 for the fourth quarter of 2024 and USD 17.0 for the full year, in line with the most recent 2024 guidance of less than USD 18.0 per boe for the full year.(3)
    • Strong operating cash flow (OCF) generation for the fourth quarter and full year 2024 amounted to MUSD 78 and MUSD 342, respectively.(3)
    • Capital and decommissioning expenditures of MUSD 129 for the fourth quarter and MUSD 442 for the full year 2024, in line with the full year guidance of MUSD 437.
    • Free cash flow (FCF) generation for the full year 2024 of negative MUSD 135, with negative FCF generation of MUSD 61 for the fourth quarter in line with expectations and taking into account the significant capital expenditures during the quarter in respect of the Blackrod project. FCF for the full year 2024, before 2024 Blackrod Phase 1 development expenditure of MUSD 351, was MUSD 216.(3)
    • Net debt of MUSD 209 and gross cash of MUSD 247 as at December 31, 2024.(3)
    • Net result of MUSD 0.4 for the fourth quarter of 2024 and MUSD 102 for the full year 2024.
    • Entered into a letter of credit facility in Canada during 2024 to cover operational letters of credit, giving full availability under IPC’s undrawn CAD 180 million Revolving Credit Facility.

    Reserves and Resources

    • Total 2P reserves as at December 31, 2024 of 493 MMboe, with a reserve life index (RLI) of 31 years.(1)(2)
    • Contingent resources (best estimate, unrisked) as at December 31, 2024 of 1,107 MMboe.(1)(2)
    • 2P reserves net asset value (NAV) as at December 31, 2024 of MUSD 3,083 (10% discount rate).(1)(2)(5)(6)

    2025 Annual Guidance

    • Full year 2025 average net production forecast at 43,000 to 45,000 boepd.(1)
    • Full year 2025 operating costs forecast at USD 18 to 19 per boe.(3)
    • Full year 2025 OCF guidance estimated at between MUSD 210 and 280 (assuming Brent USD 65 to 85 per barrel).(3)
    • Full year 2025 capital and decommissioning expenditures guidance forecast at MUSD 320, including MUSD 230 relating to Blackrod capital expenditure.
    • Full year 2025 FCF ranges from approximately MUSD 80 to 150 (assuming Brent USD 65 to 85 per barrel) before taking into account proposed Blackrod capital expenditures, or negative MUSD 150 to 80 including proposed Blackrod capital expenditures.(3)

    Business Plan Production and Cash Flow Guidance

    • 2025 – 2029 business plan forecasts:
      • average net production forecast approximately 57,000 boepd.(1)(8)
      • capital expenditure forecast of USD 8 per boe, including USD 3 per boe for growth expenditure.(8)
      • operating costs forecast of USD 18 to 19 per boe.(3)(8)
      • FCF forecast of approximately MUSD 1,200 to 2,000 (assuming Brent USD 75 to 95 per barrel).(3)(8)
    • 2030 – 2034 business plan forecasts:
      • average net production forecast of approximately 63,000 boepd.(1)(8)
      • capital expenditure forecast of USD 5 per boe.(8)
      • operating costs forecast of USD 18 to 19 per boe.(3)(8)
      • FCF forecast of approximately MUSD 1,600 to 2,600 (assuming Brent USD 75 to 95 per barrel).(3)(8)
      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023
    Revenue 199,124   198,460     797,783   853,906
    Gross profit 42,774   39,955     210,171   250,514
    Net result 415   29,710     102,219   172,979
    Operating cash flow (3) 78,158   73,634     341,989   353,048
    Free cash flow (3) (61,476 ) (64,688 )   (135,497 ) 2,689
    EBITDA (3) 76,184   66,284     335,488   350,618
    Net Cash / (Debt) (3) (208,528 ) 58,043     (208,528 ) 58,043
                     

    IPC was launched in 2017 by way of spinning off the non-Norwegian assets from Lundin Energy. The strategy and vision from the outset was to be the international E&P growth vehicle for the Lundin Group by pursuing growth organically and through acquisitions. The foundation of this strategy was and is predicated on maximising long-term stakeholder value through responsible business operations focused on operational excellence and financial resilience to underpin optimal capital allocation decision-making.

    We are very pleased with the track record of value creation achieved by the company to date. IPC’s production, reserves, resources and cash flow exposure has increased materially through accretive acquisitions supplemented by base business investment. Excluding the growth capital expenditure assigned to the Blackrod Phase 1 development, over USD 1.5 billion in free cash flow (FCF) has been generated and over USD 0.5 billion has been returned to shareholders in the form of share buybacks since inception. IPC’s current shares outstanding are less than 5% higher than the original shares outstanding upon the formation of the company. IPC is determined to build on the historical success and the growth outlook has never been brighter.(3)

    2024 was a milestone year for the company through successfully delivering the largest capital investment campaign in its history. The record investment was accompanied by strong safety, operational and financial performance. IPC returned USD 102 million of value to shareholders in the year through share repurchases, whilst maintaining a strong balance sheet.

    Oil prices were rangebound in 2024 between Brent USD 70 to 90 per barrel, with a full year Brent average of USD 81 per barrel, in line with our original oil price sensitivities guided at CMD. The fourth quarter 2024 Brent price averaged USD 75 per barrel, the lowest quarterly price average in the year. The downward trend in benchmark oil prices through the second half of 2024 has been slightly reversed in current time as continuous crude inventory draws, strong demand, underwhelming non-OPEC production growth and continued OPEC production curtailments have supported the market balance. A new administration in the White House presents uncertainty for the oil market, as looming tariffs and sanctions pose a risk to global supply chain systems and trade flows. Around 40% of our 2025 Dated Brent and WTI exposure is hedged at USD 76 per barrel and USD 71 per barrel respectively.

    The fourth quarter 2024 WTI to WCS price differentials averaged less than USD 13 per barrel, around USD 2 per barrel lower than the full year average of USD 15 per barrel. The fourth quarter differential was the lowest quarterly average since the Covid pandemic in 2020 when benchmark oil prices were more than USD 30 per barrel less than current levels. The TMX pipeline is driving the tighter differentials with excess take-away capacity in the Western Canadian Sedimentary Basin (WCSB) relative to supply. Close to 50% of our 2025 WCS to WTI differential exposure is hedged at USD 14 per barrel, which should assist in mitigating adverse effects of potential US tariffs on Canadian production.

    Natural gas prices averaged CAD 1.5 per Mcf for 2024 and in the fourth quarter. Western Canada gas storage levels continue to sit above the five-year range. This is in part due to delays of the LNG Canada start-up project which was supposed to be onstream at end 2024, start-up is now anticipated for mid-2025. IPC has around 9,600 Mcf per day hedged at CAD 2.6 per Mcf for 2025.

    Fourth Quarter and Full Year 2024 Highlights

    During the fourth quarter of 2024, IPC’s assets delivered average net production of 47,400 boepd, in line with guidance for the quarter. Full year 2024 average net production of 47,400 boepd was above the 2024 mid-point guidance range of 46,000 to 48,000 boepd.(1)

    IPC’s operating costs per boe for the fourth quarter of 2024 was USD 18.2. Full year 2024 operating costs per boe was USD 17.0, in line with the most recent 2024 annual guidance of less than USD 18 per boe.(3)

    Operating cash flow (OCF) generation for the fourth quarter of 2024 was USD 78 million. Full year 2024 OCF was USD 342 million in line with the most recent guidance of USD 335 to 342 million.(3)

    Capital and decommissioning expenditure for the fourth quarter of 2024 was USD 129 million. Full year 2024 capital and decommissioning expenditure of USD 442 million was in line with guidance of USD 437 million.

    Free cash flow (FCF) generation was in line with guidance at negative USD 61 million during the fourth quarter of 2024, reflecting the higher level of capital expenditure on the Blackrod Phase 1 development project. Full year 2024 FCF generation was negative USD 135 million, in line with the most recent guidance of negative USD 140 to 133 million.(3)

    As at December 31, 2024, IPC’s net debt position was USD 209 million. IPC’s gross cash on the balance sheet amounts to USD 247 million which provides IPC with significant financial strength to continue progressing its strategies in 2025, including advancing the Blackrod development project, returning value to shareholders through the 2024/2025 NCIB, and remaining opportunistic to mergers and acquisitions activity.(3)

    Blackrod Project

    The Blackrod asset is 100% owned by IPC and hosts the largest booked reserves and contingent resources within the IPC portfolio. After more than a decade of pilot operations, subsurface delineation and commercial engineering studies, IPC sanctioned the Phase 1 Steam Assisted Gravity Drainage (SAGD) development in the first quarter of 2023. The Phase 1 development targets 259 MMboe of 2P reserves, with a multi-year forecast capital expenditure of USD 850 million to first oil planned in late 2026. The Phase 1 development is planned for plateau production of 30,000 bopd which is expected by early 2028.(1)(2)

    As at the end of 2024, USD 591 million of cumulative growth capital, has been spent on the Blackrod Phase 1 development since sanction with a peak annual investment of USD 351 million incurred in 2024. Significant progress has been made across all key scopes of the project including but not limited to: detailed engineering, procurement, fabrication, drilling, construction, third party transport pipelines, commissioning and operations planning. Site health and safety control has been excellent with zero lost time incidents since commercial development activities commenced.

    Looking forward, USD 230 million is planned to be spent in 2025 mainly relating to advancing the remaining fabrication, construction and substantial completion of the Central Processing Facility (CPF) for the Phase 1 development. The remaining growth capital expenditure to first oil is forecast to be spent in 2026 on drilling, completions and commissioning of the CPF with first steam anticipated by end Q1 2026.

    IPC is strongly positioned to deliver within plan with a clear line of sight to start-up. The Blackrod Phase 1 project is expected to generate significant value for all our stakeholders. And with over 1 billion barrels of best estimate contingent resources (unrisked) beyond Phase 1, IPC is pleased to announce a resource maturation plan that sees significant volume maturation into reserves through low cost of less than USD 0.15 per barrel. The 2P reserves attributable to Phase 1 has increased by 40 MMboe to 259 MMboe from year end 2023 to year end 2024.(2)

    As at the end of 2024, 70% of the Blackrod Phase 1 development capital had been spent since the project sanction in early 2023. All major work streams are progressing as planned and the focus continues to be on executing the detailed sequencing of events as facility modules are safely delivered and installed at site. The total Phase 1 project guidance of USD 850 million capital expenditure to first oil in late 2026 is unchanged. IPC intends to fund the remaining Blackrod Phase 1 development costs with forecast cash flow generated by its operations and cash on hand.

    Stakeholder Returns: Normal Course Issuer Bid

    During the period of December 5, 2023 to December 4, 2024, IPC purchased and cancelled an aggregate of approximately 8.3 million common shares under the 2023/2024 NCIB. The average price of shares purchased under the 2023/2024 NCIB was SEK 131 / CAD 17 per share.

    In Q4 2024, IPC announced the renewal of the NCIB, with the ability to repurchase up to approximately 7.5 million common shares over the period of December 5, 2024 to December 4, 2025. Under the 2024/2025 NCIB, IPC repurchased and cancelled approximately 0.8 million common shares in December 2024. By the end of January 2025, IPC repurchased for cancellation over 1.4 million common shares under the 2024/2025 NCIB. The average price of common shares purchased under the 2024/2025 NCIB during December 2024 and January 2025 was SEK 135 / CAD 17.5 per share.

    As at February 7, 2025, IPC had a total of 117,781,927 common shares issued and outstanding, of which IPC holds 508,853 common shares in treasury.

    Under the 2024/2025 NCIB, IPC may purchase and cancel a further 5.3 million common shares by December 4, 2025. This would result in the cancellation of 6.2% of shares outstanding as at the beginning of December 2024. IPC continues to believe that reducing the number of shares outstanding while in parallel investing in material production growth at Blackrod will prove to be a winning formula for our stakeholders.

    Environmental, Social and Governance (ESG) Performance

    As part of IPC’s commitment to operational excellence and responsible development, IPC’s objective is to reduce risk and eliminate hazards to prevent occurrence of accidents, ill health, and environmental damage, as these are essential to the success of our business operations. During the fourth quarter and for the full year 2024, IPC recorded no material safety or environmental incidents.

    As previously announced, IPC targets a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC remains on track to achieve this reduction. During 2024, IPC announced the commitment to remain at end 2025 levels of 20 kg CO2/boe through to the end of 2028.(4)

    Reserves, Resources and Value

    As at the end of December 2024, IPC’s 2P reserves are 493 MMboe. During 2024, IPC replaced 251% of the annual 2024 production. The reserves life index (RLI) as at December 31, 2024, is approximately 31 years.(1)(2)

    The net present value (NPV) of IPC’s 2P reserves as at December 31, 2024 was USD 3.3 billion. IPC’s net asset value (NAV) was USD 3.1 billion or SEK 287 / CAD 37 per share as at December 31, 2024.(1)(2)(5)(6)(7)

    In addition, IPC’s best estimate contingent resources (unrisked) as at December 31, 2024 are 1,107 MMboe, of which 1,025 MMboe relate to future potential phases of the Blackrod project.(1)(2)

    2025 Budget and Operational Guidance

    IPC is pleased to announce its 2025 average net production guidance is 43,000 to 45,000 boepd. IPC forecasts operating costs for 2025 between USD 18 and 19 per boe.(1)(3)

    IPC’s 2025 capital and decommissioning expenditure budget is USD 320 million, with USD 230 million forecast relating to Blackrod capital expenditure. The remainder of the 2025 budget in Canada includes drilling and ongoing optimization work at Onion Lake Thermal and Suffield Area assets. IPC also plans to advance the next phase of infill drilling and complete well maintenance works at the Bertam field in Malaysia. IPC expects to conduct technical studies for future development potential in France. In all of IPC’s areas of operation, IPC has significant flexibility to control its pace of spend based on the development of commodity prices during 2025.

    Notwithstanding a modest production decline expected in 2025, IPC’s production per share metric remains largely unchanged relative to 2024 and 2023. IPC has prioritised capital allocation to the transformational Blackrod Phase 1 development and share buybacks as opposed to further increasing its base business investment to preserve balance sheet strength and maximise long- term shareholder value.

    Further details regarding IPC’s proposed 2025 budget and operational guidance will be provided at IPC’s Capital Markets Day presentation to be held on February 11, 2025 at 15:00 CET. A copy of the Capital Markets Day presentation will be available on IPC’s website at www.international-petroleum.com.

    Notes:

    (1) See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the material change report (MCR) available on IPC’s website at www.international-petroleum.com and filed on the date of this press release under IPC’s profile on SEDAR+ at www.sedarplus.ca.
    (2) See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of NPV, are described in the MCR. The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd. Reserves replacement ratio is based on 2P reserves of 468 boe as at December 31, 2024, sales production during 2024 of 16.6 MMboe, net additions to 2P reserves during 2024 of 41.7 MMboe, and 2P reserves of 493 MMboe as at December 31, 2024.
    (3) Non-IFRS measure, see “Non-IFRS Measures” below and in the MD&A.
    (4) Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.
    (5) Net present value (NPV) is after tax, discounted at 10% and based upon the forecast prices and other assumptions further described in the MCR. See “Reserves and Resources Advisory” below.
    (6) Net asset value (NAV) is calculated as NPV less net debt of USD 209 million as at December 31, 2024.
    (7) NAV per share is based on 119,059,315 IPC common shares as at December 31, 2024, being 119,169,471 common shares outstanding less 110,156 common shares held in treasury and cancelled in January 2025. NAV per share is not predictive and may not be reflective of current or future market prices for IPC common shares.
    (8) Estimated FCF generation is based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, including net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the MCR. IPC’s market capitalization is at close on January 31, 2025 (USD 1,557 million based on 146.8 SEK/share, 117.7 million IPC shares outstanding (net of treasury shares) and exchange rate of 11.10 SEK/USD). IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts. See “Forward-Looking Statements” and “Non-IFRS Measures” below.

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50    		       Or       Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15
             

    This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CET on February 11, 2025. The Corporation’s audited condensed consolidated financial statements (Financial Statements) and management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2024 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation’s website (www.international-petroleum.com).

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    Forward-looking statements include, but are not limited to, statements with respect to:

    • 2025 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;
    • Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;
    • IPC’s financial and operational flexibility to navigate the Corporation through periods of volatile commodity prices;
    • The ability to fully fund future expenditures from cash flows and current borrowing capacity;
    • IPC’s intention and ability to continue to implement its strategies to build long-term shareholder value;
    • The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;
    • The continued facility uptime and reservoir performance in IPC’s areas of operation;
    • Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven oil prices and net present values;
    • Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs;
    • The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;
    • The ability of IPC to achieve and maintain current and forecast production in France and Malaysia;
    • The intention and ability of IPC to acquire further common shares under the NCIB, including the timing of any such purchases;
    • The return of value to IPC’s shareholders as a result of the NCIB;
    • IPC’s ability to implement its GHG emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;
    • IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;
    • Estimates of reserves and contingent resources;
    • The ability to generate free cash flows and use that cash to repay debt;
    • IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;
    • IPC’s ability to identify and complete future acquisitions;
    • Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, and ongoing projects and their expected completion; and
    • Future drilling and other exploration and development activities.

    Statements relating to “reserves” and “contingent resources” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

    Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

    These include, but are not limited to general global economic, market and business conditions, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations.

    Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the MD&A (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory” therein), the Corporation’s material change report dated February 11, 2025 (MCR), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2023, (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

    Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

    Estimated FCF generation is based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, including net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the MCR. IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts.

    Non-IFRS Measures
    References are made in this press release to “operating cash flow” (OCF), “free cash flow” (FCF), “Earnings Before Interest, Tax, Depreciation and Amortization” (EBITDA), “operating costs” and “net debt”/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

    The definition of each non-IFRS measure is presented in IPC’s MD&A (See “Non-IFRS Measures” therein).

    Operating cash flow
    The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023  
    Revenue 199,124   198,460     797,783   853,906  
    Production costs and net sales of diluent to third party1 (119,371 ) (126,414 )   (447,481 ) (491,303 )
    Current tax (1,595 ) 1,588     (8,313 ) (14,457 )
    Operating cash flow 78,158   73,634     341,989   348,146  
                       

    1 Include net sales of diluent to third party amounting to USD 737 thousand for the fourth quarter of 2024 and the year ended December 31, 2024.

    The operating cash flow for the year ended December 31, 2023 including the operating cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 353,048 thousand.

    Free cash flow
    The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023  
    Operating cash flow – see above 78,158   73,634     341,989   348,146  
    Capital expenditures (126,256 ) (128,825 )   (434,713 ) (312,729 )
    Abandonment and farm-in expenditures1 (3,364 ) (1,516 )   (8,302 ) (9,199 )
    General, administration and depreciation expenses before depreciation2 (3,569 ) (5,762 )   (14,814 ) (16,886 )
    Cash financial items3 (6,445 ) (2,219 )   (19,657 ) (5,812 )
    Free cash flow (61,476 ) (64,688 )   (135,497 ) 3,520  

    1 See note 19 to the Financial Statements
    2 Depreciation is not specifically disclosed in the Financial Statements
    3 See notes 5 and 6 to the Financial Statements

    The free cash flow for the year ended December 31, 2023 including the free cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 2,689 thousand. Free cash flow is before shareholder distributions and financing costs.

    EBITDA
    The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023  
    Net result 415   29,710     102,219   172,979  
    Net financial items 35,767   6,509     59,709   22,736  
    Income tax 3,852   4,691     33,325   55,362  
    Depletion and decommissioning costs 32,087   30,434     128,392   101,922  
    Depreciation of other tangible fixed assets 2,430   1,309     8,933   7,812  
    Exploration and business development costs 1,725   348     2,069   2,355  
    Depreciation included in general, administration and depreciation expenses1 308   389     1,241   1,569  
    Sale of assets2 (400 ) (7,106 )   (400 ) (19,018 )
    EBITDA 76,814   66,284     335,488   345,717  

    1 Item is not shown in the Financial Statements
    2 Sale of assets is included under “Other income/(expense)” but not specifically disclosed in the Financial Statements

    The EBITDA for the year ended December 31, 2023 including the EBITDA contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 350,618 thousand.

    Operating costs
    The following table sets out how operating costs is calculated:

      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023  
    Production costs 120,108   126,414     448,218   491,303  
    Cost of blending (36,036 ) (44,473 )   (152,735 ) (172,996 )
    Change in inventory position (4,633 ) 1,427     (1,473 ) 3,655  
    Operating costs 79,439   83,368     294,010   321,962  
                       

    The operating costs for the year ended December 31, 2023 including the operating costs contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 328,763 thousand.

    Net cash / (debt)
    The following table sets out how net cash / (debt) is calculated from figures shown in the Financial Statements:

    USD Thousands December 31, 2024   December 31, 2023  
    Bank loans (5,121 ) (9,031 )
    Bonds1 (450,000 ) (450,000 )
    Cash and cash equivalents 246,593   517,074  
    Net cash / (debt) (208,528 ) 58,043  

    1 The bond amount represents the redeemable value at maturity (February 2027).

    Reserves and Resources Advisory
    This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation’s oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A and the MCR. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

    Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada are effective as of December 31, 2024, and are included in the reports prepared by Sproule Associates Limited (Sproule), an independent qualified reserves evaluator, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule’s December 31, 2024 price forecasts.

    Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in France and Malaysia are effective as of December 31, 2024, and are included in the report prepared by ERC Equipoise Ltd. (ERCE), an independent qualified reserves auditor, in accordance with NI 51-101 and the COGE Handbook, and using Sproule’s December 31, 2024 price forecasts.

    The price forecasts used in the Sproule and ERCE reports are available on the website of Sproule (sproule.com) and are contained in the MCR. These price forecasts are as at December 31, 2024 and may not be reflective of current and future forecast commodity prices.

    The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd. Reserves replacement ratio is based on 2P reserves of 468 MMboe as at December 31, 2023, sales production during 2024 of 16.6 MMboe, net additions to 2P reserves during 2024 of 41.7 MMboe and 2P reserves of 493 MMboe as at December 31, 2024.

    The reserves and resources information and data provided in this press release present only a portion of the disclosure required under NI 51-101. All of the required information will be contained in the Corporation’s Annual Information Form for the year ended December 31, 2024, which will be filed on SEDAR+ (accessible at www.sedarplus.ca) on or before April 1, 2025. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of net present value and other relevant information related to the contingent resources disclosed, is disclosed in the MCR available under IPC’s profile on www.sedarplus.ca and on IPC’s website at www.international-petroleum.com.

    IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

    Supplemental Information regarding Product Types

    The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:

      Heavy Crude Oil
    (Mbopd)    		 Light and Medium Crude Oil (Mbopd) Conventional Natural Gas (per day) Total
    (Mboepd)
    Three months ended        
    December 31, 2024 24.3 7.1 95.9 MMcf
    (16.0 Mboe)    		 47.4
    December 31, 2023 25.7 6.6 103.8 MMcf
    (17.3 Mboe)    		 49.6
    Year ended        
    December 31, 2024 23.9 7.7 95.1 MMcf
    (15.8 Mboe)    		 47.4
    December 31, 2023 25.8 8.1 102.8 MMcf
    (17.1 Mboe)    		 51.1
             

    This press release also makes reference to IPC’s forecast total average daily production of 43,000 to 45,000 boepd for 2025. IPC estimates that approximately 55% of that production will be comprised of heavy oil, approximately 12% will be comprised of light and medium crude oil and approximately 33% will be comprised of conventional natural gas.

    Currency
    All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars. References herein to CAD mean Canadian dollars.

    The MIL Network –

  • MIL-OSI Russia: Teachers and students of the NSU SUNC assessed the advantages of the new school buildings

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    It was completed last summer construction of first stage facilities, including an educational building and a leisure center Specialized educational and scientific center of NSU, better known to Novosibirsk residents as the Physics and Mathematics School or FMSh.

    Even at the construction stage, both the university management and representatives of the Novosibirsk Region government repeatedly emphasized that this was not just about new buildings, but about creating a new type of school using the most advanced technologies, both educational and engineering.

    — No school in the country has such equipment for conducting experimental classes, and only a few schools in the world can boast of this. This allows us to conduct training at the most advanced level, which, in turn, brings victories to the students of the physics and mathematics school at world Olympiads in various subjects. This focus on the best, which is the basis of the campus project, allows us to evaluate it as a world-class facility, — emphasized Vice-Governor of the Novosibirsk Region Irina Manuilova during her latest visit to the construction site.

    Six months have passed, and teachers and students have been able to verify from their own experience how the school passage itself has changed after the move and whether the generous predictions about the new type of school have come true.

    — Work in the old and new buildings are as different as heaven and earth. In the old building, we organized training based on the principle of “it doesn’t matter where we gather, the main thing is that we are together and united by a common goal.” Now, we have at our disposal a multitude of tools, opportunities, and enough space to achieve maximum results in our work, — noted Roman Bredikhin, Associate Professor of the Chemistry Department of the NSU SUNC.

    Large spaces become the foundation for students’ creativity. They allow changing the configuration of study places in the classroom to suit the tasks of a specific lesson: separate tables for tests or exams, team tables for group work, and so on.

    Another advantage was the engineering infrastructure of the academic building.

    — For example, in chemical laboratories, individual equipment of workplaces is provided, right down to personal exhaust hoods and gas distribution to workplaces. This allows us to conduct experiments in an inert environment with protection from oxygen and moisture contained in the air, to carry out those syntheses and implement such projects that were unthinkable in the old building, — said Roman Bredikhin.

    As a result, the school staff faced a certain challenge: the new buildings make it possible to significantly expand the scope of projects carried out by schoolchildren.

    — In fact, we often suggest now: guys, let’s bring your idea to life and it will be a demonstration experiment that you will leave as a keepsake at school. And this approach finds a response, — concluded Roman Bredikhin.

    The students themselves agreed with his assessment of the changes in school life after the move.

    — Of course, the old building had its own atmosphere, which was formed by generations of previous graduates. But I like this building more — there is an emphasis on everything new, new classrooms, recreation areas, areas for a variety of leisure activities, and most importantly — there is enough space here to be able to be creative from the heart, both in terms of studying and in creativity outside of class, — shared his opinion Kirill Volodin, a student of class 11-4.

    — The area here is large and the buildings are impressive in their technological advancement. But at the same time, they are planned in such a way that everyone can find a place to immerse themselves in their project or study material, and nothing will disturb you. Of course, I, like many others, have certain pleasant memories associated with the old building, but I do not regret moving at all. I like studying in the new buildings much more, — added Polina Brezhneva, a student in class 11-5.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI United Nations: Secretary-General on the situation in Gaza

    Source: United Nations

    We must avoid at all costs the resumption of hostilities in Gaza that would lead to an immense tragedy.
     
    I appeal to Hamas to proceed with the planned liberation of hostages next Saturday.
     
    Both sides must fully abide by their commitments in the cease-fire agreement and resume serious negotiations in Doha for the second phase.
     
    António Guterres
     

    MIL OSI United Nations News –

  • MIL-OSI Australia: NTES crews deployed to QLD to assist with flood emergency

    Source: Northern Territory Police and Fire Services

    NT Emergency Service deployed 6 volunteers and 1 staff member to Queensland early Sunday, to assist with the current flood emergency unfolding in the far north.

    The region has been impacted by extreme rainfall, resulting in extensive flooding that is expected to continue for several days. Relief and recovery efforts will continue for weeks due to the extent of the flooding and damage across the region.

    The Queensland Government formally requested assistance from all jurisdictions throughout Australia on Tuesday afternoon, promoting a response from NTES who have arranged for a contingent to fly to Townsville commencing on Sunday.

    The team, consisting of volunteers and staff from Darwin, Palmerston, Nhulunbuy and Katherine will assist with relief and recovery tasks such as debris removal, community engagement, flood boat resupply and evacuation centre operations. 

    NT Fire and Emergency Services Commissioner, Andrew Warton, said the NT volunteers were highly trained and up for the task of helping their colleagues at QLD State Emergency Service.

    “Our dedicated volunteers and staff members are more than happy to step up and assist during this critical time,” he said.

    “Given the scale of the flooding emergency, the QLD SES has requested additional capacity to aid in the response efforts. Our first team of six will assist with a range of tasks that they’re well prepared and experienced in delivering”

    “While flooding is not uncommon in North Queensland, the vastness of this event and impact it has had on so many communities in the region is extremely challenging and has exhausted QLD SES resources – out thoughts are with all of those impacted and the selfless volunteers on the front line.”

    This deployment highlights the dedication and core values of NTES. Many of these individuals put their personal lives on hold to assist communities, as well as others in need during times of crisis.

    The recent formation of the NT Fire and Emergency Services, which combines the NT Fire and Rescue Service, NT Emergency Service, and Bushfires NT into one agency, enhances our ability to respond to emergencies while prioritising community resilience.

    Media contact:

    Rickie Abraham

    89239803

    MIL OSI News –

  • MIL-OSI: Unaudited financial results of LHV Group for Q4 and 12 months of 2024

    Source: GlobeNewswire (MIL-OSI)

    The year-end was a successful one for LHV, supported by strong loan issue and deposit taking. The company met the profit target set in the financial plan.

    In 2024, AS LHV Group generated net revenue of 338.3 million euros, i.e., 11% more than in the previous year, thanks to strong business growth. Annual net interest income increased to 273.3 million euros (+8%) and net fee and commission income to 60.3 million euros (+24%). Consolidated expenditure for 2024 totalled 146.9 million euros, i.e., 14% higher than the previous year. The consolidated net profit of AS LHV Group in 2024 was 150.3 million euros, i.e., 9.4 million euros more than in 2023 (+7%).

    Of the subsidiaries, AS LHV Pank earned a total of 140.5 million euros in net profit in 2024, UK Bank Limited 5.8 million euros, AS LHV Varahaldus 1.6 million euros, and AS LHV Kindlustus 1.2 million euros.

    By the end of 2024, the consolidated assets of LHV Group increased to 8.74 billion euros, growing by 23% year-on-year, i.e., 1.64 billion euros. In Q4, the volume of assets increased by 12%.

    The consolidated loan portfolio of LHV increased by 990 million euros to 4.55 billion euros (+28%) in 2024. In Q4, the loan portfolio increased by 10%, i.e., 426 million euros. Corporate loans increased by 328 million euros over the quarter and retail loans by 98 million euros.

    The Group’s consolidated deposits grew by 1.18 billion euros over the year to 6.91 billion euros (+21%). In Q4, deposits increased by 624 million euros, i.e., 10%, while deposits of regular clients increased by 134 million euros.

    The total volume of funds managed by LHV increased by 39 million euros to 1.56 billion euros (+3%) over the year. In the last quarter of the year, the volume of funds increased by 37 million euros (+2%).

    The number of processed payments related to clients that were financial intermediaries amounted to 74.8 million payments in 2024 (+51% compared to 49.5 million payments in 2023). In Q4, 19.8 million such payments were made, i.e., 6% more than in Q3.

    In Q4 of 2024, AS LHV Group’s consolidated net profit amounted to 36.3 million euros, which is 1.6 million euros more than in Q3 (+5%). On a year-on-year basis, quarterly profit increased by 11%. AS LHV Pank earned 34.8 million euros in net profit in Q4. In the last quarter of the year, LHV Bank Ltd earned a net profit of 640 thousand euros, AS LHV Varahaldus 509 thousand euros, and AS LHV Kindlustus 68 thousand euros. The return on equity attributable to the shareholders of the Group was 22% in Q4.

    The Group’s consolidated net income increased by 2% in Q4 compared to the previous quarter of the year to 84.9 million euros. Net income was 1% higher than last year. Net interest income was generated at 66.6 million euros, and net fee and commission income at 17.3 million euros. Consolidated operating expenses were 40.8 million euros in Q4, which is 14% higher than in Q3 and 13% higher than a year earlier.

    Income statement, EUR thousand Q4-2024 Q3-2024 Q4-2023
       Net interest income 66 556 67 426 67 670
       Net fee and commission income 17 324 14 630 14 264
       Net gains from financial assets -198 799 480
       Other income 1 190 354 1 243
       Result from insurance activities 49 357 371
    Total revenue 84 921 83 566 84 029
       Staff costs -22 831 -19 499 -17 765
       Office rent and expenses -715 -801 -872
       IT expenses -4 270 -3 612 -4 067
       Marketing expenses -2 086 -1 298 -1 117
       Other operating expenses -10 885 -10 702 -12 366
    Total operating expenses -40 786 -35 911 -36 187
    EBIT 44 136 47 655 47 841
    Earnings before impairment losses 44 136 47 655 47 841
       Impairment losses on loans and advances -1 085 -7 277 -9 430
       Income tax -6 733 -5 681 -5 643
    Net profit 36 318 34 698 32 768
       Profit attributable to non-controlling interest 566 312 231
       Profit attributable to share holders of the parent 35 752 34 386 32 537
           
       Profit attributable to non-controlling interest 0.11 0.11 0.10
       Profit attributable to share holders of the parent 0.11 0.10 0.10
    Balance sheet, EUR thousand Dec 2024 Sep 2024 Dec 2023
       Cash and cash equivalents 3 818 305 3 376 016 3 119 394
       Financial assets 309 804 259 933 340 341
       Loans granted 4 591 906 4 168 778 3 591 517
       Loan impairments -39 813 -42 543 -29 725
       Receivables from customers 5 367 10 598 49 505
       Other assets 50 742 47 567 54 559
    Total assets 8 736 311 7 820 348 7 125 590
          Demand deposits 4 855 101 4 160 516 3 808 162
          Term deposits 2 055 009 2 125 844 1 922 843
          Loans received 927 686 679 550 563 634
       Loans received and deposits from customers 7 837 795 6 965 910 6 294 639
       Other liabilities 93 601 108 605 147 934
       Subordinated loans 126 257 106 079 126 652
    Total liabilities 8 057 653 7 180 595 6 569 225
    Equity 678 657 639 754 556 365
       Minority interest 8 571 8 006 7 937
    Total liabilities and equity 8 736 311 7 820 348 7 125 590

    LHV Group continued its rapid growth in 2024. The strong end to the year was influenced by a good level of client activity and higher than previous fee and commission income. The decline in interest income was mitigated by strong growth in the loan portfolio. Thanks to the good quality of the portfolio and the improvement in the macroeconomic situation, LHV reduced write-downs. The updated financial plan was accurately fulfilled by the end of the year.

    The number of clients of LHV Pank increased by 10,900 to 455 thousand clients in Q4. Over the year, the number of the bank’s clients increased by 38,000, i.e., more than 9%. At the end of the year, clients also actively used LHV’s banking services, and the decrease in interest income was offset by better fee and commission income, especially from investment banking. As interest income continues to be under pressure, the bank is paying attention to limiting costs by increasing efficiency. In this regard, LHV Pank announced layoffs in December, reducing the workforce by 44 people.

    The loan issue intensified in the last months of the year and, in Q4, the loan portfolio of LHV Pank increased by 300 million euros. The quality of the loan portfolio has remained stronger than planned, and write-downs on loans were reduced. The deposits of LHV Pank increased by 577 million euros in the last quarter of the year, of which 180 million euros came from deposits of regular clients and 450 million euros from financial intermediaries, and platform deposits were reduced. The bank is still keeping the focus on growing deposits. At the beginning of October, the bank also issued 250 million euros worth of covered bonds.

    At the beginning of December, The Banker magazine of the Financial Times declared LHV the best bank of the year in Estonia. Furthermore, Q4 included a review of several important cooperation projects: LHV will be the main sponsor of both Estonian football and the biathlon in the coming years.

    The loan portfolio of LHV Bank operating in the United Kingdom grew by more than half for the second quarter in a row. The loan portfolio increased by 126 million euros, while another 119 million euros of loans have been approved but not issued by the Credit Committee. The quality of the loan portfolio is generally strong. The volume of the deposits of LHV Bank increased by 70 million euros, with a total of nearly 11,600 depositors being involved. The volume of payments by financial intermediaries rose to record levels at the end of the year.

    In December, LHV Bank opened a new mobile bank for its first clients, through which private persons can open an account and make payments. Further, the offer and app will continue to be improved, and their wider introduction to the market will be held in order to attract deposits directly from retail clients.

    By the end of the year, the number of active clients of LHV Varahaldus making monthly contributions was 114,000. Nearly 14,000 of them submitted applications for larger contributions to the II pillar. Seasonally, contributions to the III pillar were actively made again. Operating income and expenses for the quarter remained at the level of the previous quarter. The profit was affected by a more modest financial income from the growth of the funds’ own units than before, but the financial plan still managed to be outpaced.

    The stock markets had a strong quarter driven by tech stocks and the U.S. market. The quarterly rate of return of the pension funds M and L managed by LHV was 1.0% and 0.6%, respectively, while XL decreased by 1.4% against the background of a weak December. The rate of return of the more conservative funds XS and S is 0.8% and 1.2%, respectively. Pensionifond Indeks increased by 4.2%; Pensionifond Roheline lost 5.7% in value over the quarter.

    For LHV Kindlustus, strong sales results, but also seasonally increased loss events, set the tone at the end of the year. The number of policies in force and clients is in a stable growth trend. A good sales result was shown by most types of insurance. Revenue from the insurance service continued to grow, while operating expenses increased. Gross losses increased a little faster compared to earned income. For the year as a whole, LHV Kindlustus earned 1.2 million from net profit and, thus, outperformed the financial plan.

    LHV Group’s annual cost/income ratio turned out to be 43.4%, and return on equity 24.5%. The Group’s liquidity and capitalisation remain strong. In November, LHV Group conducted a successful offering of subordinated bonds, raising 20 million euros in capital from investors. LHV Group will publish the 2025 financial plan and five-year forecast on 13 February.

    Comment by Madis Toomsalu, Chairman of the Management Board at LHV Group:
    “The changes taking place in the world are probably the biggest in the last half century. We are witnessing the growth of geopolitical ambitions, structural changes in the economy, the decline of free trade, and the exponential growth of technological development.

    Despite the different directions, 2024 was a successful year for LHV. After the supervisory exchange, we were able to restore the historically ambitious growth in business volumes. With a strong growth of 1 billion euros, i.e., 28% of the loan portfolio and a higher base interest rate, we achieved the highest business volumes and financial results in history.

    In Estonia, we have grown into the second largest bank in terms of corporate loans. At the same time, the volume of home loans and the insurance business are also growing rapidly. The number of the Estonian bank’s clients increased by 38,000 and activity increased in all the important areas. In the United Kingdom, the corporate loan portfolio already exceeded 300 million euros by the end of the year, which is why we are increasing our long-term expectations. This is also reflected in the mobile app launched at the end of the year.”

    To access the reports of AS LHV Group, please visit the website at: https://investor.lhv.ee/en/reports/.

    In order to present the financial results, LHV Group will organise an investor meeting via the Zoom webinar platform. The virtual investor meeting will take place on 11 February at 9.00, before the market opens. The presentation will be in Estonian. We kindly ask you to register at the following address: https://lhvbank.zoom.us/webinar/register/WN_UP-IqHxNSRSVeoKeUcTOfQ.

    LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,200 people. As at the end of December, LHV’s banking services are being used by nearly 460,000 clients, the pension funds managed by LHV have 114,000 active clients, and LHV Kindlustus is protecting a total of 170,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Priit Rum
    Communications Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee 

    Attachments

    The MIL Network –

  • MIL-OSI China: Announcement on Open Market Operations No.26 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.26 [2025]

    (Open Market Operations Office, February 11, 2025)

    In order to keep liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB33 billion through quantity bidding at a fixed interest rate on February 11, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB33 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月11日

    MIL OSI China News –

  • MIL-OSI United Nations: Secretary-General’s message on the International Day of Women and Girls in Science [scroll down for French version]

    Source: United Nations secretary general

    Ten years ago, the first International Day of Women and Girls in Science recognized a fundamental truth: women’s participation is essential for building a better world through science and technology. I saw that enormous potential firsthand when I was teaching engineering, and I saw the remarkable talent, creativity, and determination of countless women scientists.

    Yet today, women still represent just one-third of the global scientific community. Deprived of adequate funding, publishing opportunities and leadership positions in universities, women and girls continue to face an uphill battle in building careers in science, technology, engineering and math (STEM).

    Look no further than the development of new digital technologies. Men dominate the field at every level—including in Artificial Intelligence. The result is a surge of biased algorithms and embedded inequality, risking a new era of digital chauvinism.

    The more that women are excluded from STEM, the more we limit our collective power to address urgent global challenges, from climate change and food security to public health and technological transformation.

    We can and must do more to level the playing field

    By expanding scholarships, internships and mentorship opportunities to open doors for women and girls in STEM; creating workplaces that attract, retain and advance women in science; encouraging girls’ engagement in STEM from an early age; championing women leaders in science through the media; and dismantling gender stereotypes.

    The Pact for the Future, agreed last September by Member States, gives renewed momentum to these goals by committing to address barriers preventing the full, equal and meaningful access for women and girls in scientific fields.  

    On the tenth anniversary of this important day, and as we reflect on 30 years since the Beijing Declaration, let’s help pave a path to STEM careers that women and girls deserve – and our world needs.

    ***
    Il y a dix ans, la première Journée internationale des femmes et des filles de science consacrait une vérité fondamentale : la participation des femmes est essentielle pour bâtir un monde meilleur grâce à la science et à la technologie. J’ai pu constater par moi-même l’incroyable potentiel des femmes lorsque j’enseignais l’ingénierie, et j’ai vu le talent, la créativité et la détermination remarquables d’innombrables femmes de science.

    Or, à l’heure actuelle, les femmes ne représentent qu’un tiers des scientifiques dans le monde. Privées de financements adéquats, de possibilités de publication et de postes de direction dans les universités, les femmes et les filles ont encore d’innombrables obstacles à surmonter pour faire carrière dans le domaine des sciences, de la technologie, de l’ingénierie et des mathématiques (STIM).

    Pour s’en convaincre, il suffit d’observer le développement des nouvelles technologies numériques. Les hommes dominent le secteur à tous les niveaux, notamment dans l’intelligence artificielle. Il en résulte un déferlement d’algorithmes biaisés qui perpétuent des inégalités bien ancrées et risquent d’ouvrir une nouvelle ère de machisme numérique.

    Plus les femmes sont exclues des STIM, plus nous limitons notre capacité collective de relever les défis urgents qui se posent dans le monde, qu’il s’agisse des changements climatiques, de la sécurité alimentaire, de la santé publique ou de la transformation technologique.

    Nous pouvons et devons en faire plus pour que les femmes aient véritablement les mêmes chances que les hommes :

    Il nous faut élargir les programmes de bourses d’études, de stage et de mentorat afin d’ouvrir aux femmes la porte des STIM ; créer dans ce secteur des lieux de travail qui attirent et retiennent les femmes et dans lesquels elles peuvent progresser ; encourager les filles à s’engager sur la voie des STIM dès leur plus jeune âge ; promouvoir, dans les médias, le leadership des femmes dans le domaine de la science ; venir à bout des stéréotypes de genre.

    Le Pacte pour l’avenir, adopté par les États Membres en septembre dernier, crée une nouvelle dynamique pour la réalisation de ces objectifs. En effet, les États Membres s’y sont engagés à lever les obstacles qui empêchent les femmes et les filles d’accéder pleinement et véritablement, dans des conditions d’égalité, aux filières scientifiques.

    En ce jour où nous célébrons, pour la dixième année, cette importante journée, et alors que nous réfléchissons aux 30 années qui se sont écoulées depuis l’adoption de la Déclaration de Beijing, agissons pour que les femmes et les filles puissent mener, dans le domaine des STIM, les carrières qu’elles méritent – et dont le monde a besoin.

    MIL OSI United Nations News –

  • MIL-Evening Report: Social media groups can offer support to new parents. Here’s how to tell if there’s marketing involved

    Source: The Conversation (Au and NZ) – By Nicole Bridges, Senior Lecturer in Public Relations and Director of Academic Program – Communication, Creative Industries, Screen Media, Western Sydney University

    Stock Rocket/Shutterstock

    For new parents struggling with challenges such as breastfeeding and sleep deprivation, social media can be a great place to turn for advice. Digital platforms such as Facebook and Reddit host a range of groups that offer peer support and information.

    Research shows connecting with other new parents can also foster a sense of community.

    But there is growing concern businesses and influencers may also be using groups to push certain products and services.

    In recent media reports, new parents have described feeling misled, after discovering the parent support group they thought was founded by a local mum was run by a media company owner and monetised through advertising.

    So how can you identify when commercial interests are involved?

    Here’s what to look out for to get the best from online parenting groups.

    How can social media groups help?

    In Australia, closed Facebook groups are a popular choice for parents accessing free peer support and information online. Closed groups are not public – they are run by administrators and moderators who can approve requests from other users for membership.

    These groups are often started by not-for-profit organisations or parents themselves and have a number of benefits. Parents can connect with others, share experiences, seek advice and learn about different parenting approaches.

    This can be particularly useful for people in remote and regional areas who may find it harder to access in-person support, and was essential during COVID lockdowns.

    My research with colleagues has revealed the important role these groups can play.

    In several studies we have looked at how parents use closed Facebook groups facilitated by the Australian Breastfeeding Association.

    Over four weeks, we tracked the frequency and type of posts, the number and nature of the comments, and how parents felt about the support they received in these groups.

    We found they provided information and emotional support group members could trust because they were facilitated by trained peer breastfeeding counsellors and other mothers.

    This is significant because we know lack of breastfeeding support is often cited by mothers as one of the key reasons for premature weaning.

    The group administrators played an important role responding to queries and making sure discussions stuck to the association’s code of ethics.

    This code encourages mutual respect, sharing evidence-based information, and co-operation with health professionals. It also discourages the promotion of products and services.

    Our research has shown the value of accessing trusted information and sharing experiences in a supportive community, where human connection is centred rather than products.

    Online groups can help parents connect to a community.
    AnnaStills/Shutterstock

    What’s the problem with monetising groups?

    When access to parenting support and information is limited or biased, it can have serious consequences for those already facing challenges with parenting.

    Let’s imagine an example. A group member is posting about birth trauma. But in responding, other members aren’t allowed to mention local service providers – for example, counselling – because they are not paid sponsors of the group.

    This means advice is skewed towards organisations that can afford to pay for sponsorship and be mentioned.

    As a result, new parents might not find out about the range of not-for-profit support groups that can help them with important challenges like breastfeeding and postpartum mental health.

    This deceptive practice can erode trust within online communities. Users may perceive the platform as prioritising profit over the wellbeing of its members, which can reduce engagement and the overall quality of the group.

    It may also leave new parents – who are particularly vulnerable to unethical marketing – open to exploitation.

    What can we do?

    Protecting parents from commercialised social media groups requires a multifaceted approach.

    First, regulation is crucial, such as ensuring that social media groups are transparent about any commercial interests, and commercial entities are marketing their products ethically.

    Second, we need public awareness campaigns to educate parents about the potential biases and risks associated with commercialised platforms. This includes fostering media literacy skills to critically evaluate information and identify reliable sources.

    Finally, collaboration between policymakers, researchers, industry representatives, and parent advocacy groups is vital to develop effective solutions that address these challenges.

    Parents may already be dealing with challenges such as sleep deprivation.
    Ground Picture/Shutterstock

    What should I look out for?

    To protect yourself from misinformation in online parenting groups, it’s crucial to be critical of information sources. It’s a good idea to:

    • watch out for warning signs like excessive product promotion, lack of transparency about group affiliations, and a primary focus on selling. For example, when joining a closed Facebook group, read the page’s “about” section. If there is mention of advertising or sponsorship, this is a red flag

    • look at who the “admins” are. If listed admins include business names that can also be a cause for concern

    • check out the list of “members”. If the group accepts “pages” (which are often run by businesses) in addition to individual people, this is also a sign that commercial interests are at play.

    • look for groups focused on sharing experiences, offering support, and building authentic relationships

    • observe how members interact and how heavily the groups are moderated and censored, and seek out groups with diverse perspectives

    • when you join the group, carefully consider the group rules that you are agreeing to and what they say about mentioning support services, and the promotion of commercial products. Will this mean that you may be censored or receive censored information?

    Always cross-reference information with reputable sources like government organisations (such as the Raising Children Network or Australian Breastfeeding Association) and compare information from multiple sources to get a balanced perspective.

    Finally, trust your instincts. If a group feels “off” or overly promotional, don’t hesitate to leave.

    Nicole Bridges is a volunteer breastfeeding counsellor and educator with the Australian Breastfeeding Association.

    – ref. Social media groups can offer support to new parents. Here’s how to tell if there’s marketing involved – https://theconversation.com/social-media-groups-can-offer-support-to-new-parents-heres-how-to-tell-if-theres-marketing-involved-247212

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Australia improves on global corruption rankings, but there is still work to be done

    Source: The Conversation (Au and NZ) – By A J Brown, Professor of Public Policy & Law, Centre for Governance & Public Policy, Griffith University

    Australia has turned the corner on its decade-long slide on Transparency International’s annual Corruption Perceptions Index (CPI), once again ranking in the top ten least corrupt countries in the world. The fresh ranking comes just ahead of a federal election, which will determine the future of many key anti-corruption reforms.

    In the latest 2024 index, Australia rose two points to a score of 77 on the 100-point scale. The index is the world’s most widely cited indicator of how countries are faring in controlling corruption in government.

    The result confirms a positive trend, placing Australia back in the top 10 countries for the first time since 2016. It now sits at equal 10th alongside Iceland and Ireland.

    In 2012, Australia was ranked as the 7th least corrupt country in the world, with a score of 85 out of 100. But by 2021 it had fallen to a score of 73 and 18th place on the index.

    With that fall widely attributed to a decade of complacency and foot-dragging on efforts to bolster integrity in government, the confirmed recovery is a major affirmation of reforms of the past three years. It also highlights some stark choices for policymakers heading into the 2025 federal election.

    The best – and worst – places for corruption

    Globally, Denmark again tops the index with a score of 90, followed by Finland on 88. The most corrupt countries in the world are Venezuela (10), Somalia (9) and South Sudan (8).

    However, the global outlook is highly challenging. Over the past ten years, many more countries have now declined significantly in their anti-corruption scores (47 countries) than have improved on the index (32 countries).

    Australia’s recovery is therefore now bucking a negative trend, including the “integrity complacency” still affecting many other developed countries. The United Kingdom (71/100) and United States (65/100) have now fallen to their own lowest-ever scores on the index.

    The index is compiled from 13 independent surveys of professional and expert perceptions of public sector corruption across the world. Nine sources were used to inform Australia’s result – including include Freedom House, the World Justice Project and the World Bank’s Executive Opinion Survey.

    Two sources had Australia still declining, including the global academic-led Varieties of Democracy (V-Dem) Project. However, six sources rate Australia as improving, led by the Economist Intelligence Unit’s assessment, conducted most recently in September 2024.

    Australian reforms are making a difference

    There’s now little doubt that the federal integrity reforms of the past three years are a major reason for Australia’s new direction of travel. These include the creation of the National Anti-Corruption Commission in 2022, as well as the long overdue strengthening of Australia’s foreign bribery laws in 2024. A renewed commitment to the global Open Government Partnership, much of the response to Robodebt, and measures to strengthen merit in public appointments, such as replacement of the Administrative Appeals Tribunal, have also helped.

    Long overdue anti-money laundering laws were also introduced late in 2024, beyond the time frame for data collection for the latest index. While the impact of these on expert opinion will be known in the future, they highlight that much of the business of Australia’s anti-corruption “catch up” is unfinished and ongoing.

    The result poses a challenge for any policymakers suffering under the illusion that Australia’s integrity systems are somehow “fixed”.

    From an international perspective, Australia is yet to move to control secret and sham company ownerships – the major vehicle used to hide bribes and stolen public money. This is despite championing transparency in the beneficial ownership of companies since hosting the G20 in 2014.

    The need to bring transparency and integrity to federal political donation and funding laws continues to overshadow the last weeks of the 47th parliament. Negotiations between the major parties have failed to inspire confidence among independents, and much of the public.

    Effective control of undue influence in decision-making, pork-barrelling, professional lobbying and “revolving door” jobs for politicians and public servants are ongoing challenges.

    And in a clear signal to both the Labor government and the Coalition, a team of cross-benchers, led by independent Andrew Wilkie, have introduced a bill to establish a Whistleblower Protection Authority. This remains the single biggest gap in Australia’s integrity system and the most major anti-corruption reform still needed.

    Even before Australia hit its 2022 low, some leaders were softening citizens up to accept a reduced position on the index. In 2018, Coalition Attorney-General Christian Porter claimed Australia had remained “consistently in the top 20 countries on Earth for low corruption”. This prompted independent Rebekha Sharkie to point out that Australia had fallen from the top ten: “the trajectory is not good”.

    By contrast, Labor leader Anthony Albanese went into the last election accusing the Morrison government of dragging Australia down on corruption, and promising Labor would do better. He said:

    The health of our democracy, the integrity of our institutions, the transparency and fairness of our laws, the harmony and cohesion of our population. These aren’t just noble ideals. They are a powerful defence against the threat of modern authoritarianism.

    Amid the challenges, there is hope. The federal parliament’s reform record of the past three years is clearly a big step in the right direction.

    However, the climb back to 77 on the Corruption Perceptions Index shows it’s clearly just the first step in securing Australia’s reputation as a democracy that protects itself against undue influence and abuse of power.

    A J Brown AM is Chair of Transparency International Australia. He has received funding from the Australian Research Council and all Australian governments for research on public interest whistleblowing, integrity and anti-corruption reform through partners including Australia’s federal and state Ombudsmen and other regulatory agencies, parliaments, anti-corruption agencies and private sector bodies. He was a member of the Commonwealth Ministerial Expert Panel on Whistleblowing (2017-2019) and is a member of the Queensland Public Sector Governance Council.

    – ref. Australia improves on global corruption rankings, but there is still work to be done – https://theconversation.com/australia-improves-on-global-corruption-rankings-but-there-is-still-work-to-be-done-249458

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Murray, Blumenthal, Senate Democrats Demand VA Secretary Collins Step Up and Defend Veterans’ Private Information from Elon Musk

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former chair of the Senate Veterans’ Affairs Committee, joined Senate Veterans’ Affairs Committee Ranking Member Richard Blumenthal (D-CT) and 25 other Democratic senators in calling on Department of Veterans Affairs (VA) Secretary Doug Collins to take immediate actions to secure veterans’ personal information provided by VA or other agencies to Elon Musk and his “Department of Government Efficiency” (DOGE). This call follows Musk’s takeover of the U.S. Treasury’s payment system, which includes private information of veterans and their families, and reports of DOGE employees accessing VA computer systems at the Department’s headquarters in Washington, D.C.
    In a letter to Collins, Murray and the other senators demanded the Secretary deny and sever Musk and DOGE’s access to any VA or other government system with information about veterans, and to delete any veterans’ information in their possession: “Among many tasks, the Secretary of the Department of Veterans Affairs (VA) is entrusted with safeguarding the private and sensitive information of millions of veterans…Veterans risked their lives to defend our country, and they deserve better than to have an unelected billionaire reviewing their medical records, targeting the benefits they have earned, or using their private information for personal gain.”
    The senators underscored the vast amounts of veterans’ private, sensitive information entrusted to VA, at-risk of being abused by Musk and DOGE: “Our nation’s veterans have entrusted their health records, including genetic samples, disability data, bank information, and other private information, to VA. The Department also stores sensitive veteran casework, files of whistleblowers who have come forward with concerns about waste, fraud, and abuse, and sensitive investigative files with veteran and federal employee information.”
    The senators continued stressing their concerns of Musk and DOGE’s ability to freely access this information with no transparency or accountability mechanisms: “Meanwhile, the President has given unfettered access to federal databases and systems to Mr. Musk, an unelected citizen, and a team of colleagues with no formal documented employment agreement with the U.S. government. It is a group of private citizens with no experience in the federal government, who lack proper approval from legal and agency authorities, lack the appropriate security clearances, and lack the requisite background investigations or ethical conflict requirements. We are outraged these unelected, unvetted, and unaccountable individuals now have access to sensitive information that has been heavily secured for decades and by Administrations of both parties.”
    There are millions of veterans’ medical records stored in VA’s computer systems. These confidential records include veterans’ prescriptions, diagnoses, and procedures they have undergone. Access to these medical records could give Musk and DOGE the ability to identify veterans who have received abortions or abortion counseling in the past. The Million Veteran Program, which manages the genomic data of its more than one million veteran participants for authorized research programs, also stores its data in VA data systems. In addition, the U.S. Treasury’s payment system stores private information of veterans, surviving spouses, and their families, including their monthly disability compensation amount, home address, and bank account numbers.
    Calling on VA Secretary Collins to uphold the promises he made to Senators during his confirmation process, the group of senators concluded: “During your confirmation process, you claimed you would be focused on rooting out corruption and ensuring accountability at VA, and committed to following the laws passed by Congress. We now call on you to respond quickly and comprehensively to these privacy violations by revoking DOGE’s access to VA systems and insisting they permanently remove all VA data collected from their files.”
    In addition to Senators Murray and Blumenthal, the letter was signed by Senate Minority Leader Chuck Schumer (D-NY) and U.S. Senators Raphael Warnock (D-GA), Tim Kaine (D-VA), Chris Van Hollen (D-MD), Ed Markey (D-MA), Jeanne Shaheen (D-NH), Jeff Merkley (D-OR), Ben Ray Luján (D-NM), Tina Smith (D-MN), Elizabeth Warren (D-MA), Michael Bennet (D-CO), Bernie Sanders (I-VT), Jack Reed (D-RI), Ron Wyden (D-OR), Dick Durbin (D-IL), Jacky Rosen (D-NV), Catherine Cortez Masto (D-NV), Chris Murphy (D-CT), Mark Kelly (D-AZ), Angus King (I-ME), Tammy Duckworth (D-IL), Tammy Baldwin (D-WI), Mark Warner (D-VA), and Martin Heinrich (D-NM).
    The full text of the Senators’ letter is available here and below.
    Dear Secretary Collins,
    Among many tasks, the Secretary of the Department of Veterans Affairs (VA) is entrusted with safeguarding the private and sensitive information of millions of veterans. Today, we call on you to immediately secure any personal and related information regarding veterans provided by VA or other agencies to Elon Musk and associates under the auspices of the “Department of Government Efficiency” established under Executive Order 14158. Further, we call on you to deny and sever their access to any VA or other government system that includes information about veterans, and to require them to immediately and permanently delete any information in their possession. Veterans risked their lives to defend our country, and they deserve better than to have an unelected billionaire reviewing their medical records, targeting the benefits they have earned, or using their private information for personal gain.
    Our nation’s veterans have entrusted their health records, including genetic samples, disability data, bank information, and other private information, to VA. The Department also stores sensitive veteran casework, files of whistleblowers who have come forward with concerns about waste, fraud, and abuse, and sensitive investigative files with veteran and federal employee information. Veterans and VA employees entrusted the Department with this information with the understanding that it would be kept private and only used to help deliver the highest quality of services to veterans, their families, and survivors.
    Meanwhile, the President has given unfettered access to federal databases and systems to Mr. Musk, an unelected citizen, and a team of colleagues with no formal documented employment agreement with the U.S. government. It is a group of private citizens with no experience in the federal government, who lack proper approval from legal and agency authorities, lack the appropriate security clearances, and lack the requisite background investigations or ethical conflict requirements. We are outraged these unelected, unvetted, and unaccountable individuals now have access to sensitive information that has been heavily secured for decades and by Administrations of both parties.
    These actions are in direct violation of federal laws meant to protect our national security and the privacy of our citizens’ personal information. This includes information on Social Security payments, Medicare, Medicaid, student loans, veterans’ disability compensation payments, GI Bill payments, federal civil servants’ personnel records, and much more. With every hour, we see DOGE further expand its efforts to create a massive private database of previously guarded data outside the federal government’s cyber and legal protections. It is an abhorrent and illegal overreach of executive powers, which conflicts with various federal statutes, including the Federal Information Security Modernization Act, the Privacy Act, the E-Government Act of 2002, and likely several other cyber and national security laws.
    During your confirmation process, you claimed you would be focused on rooting out corruption and ensuring accountability at VA, and committed to following the laws passed by Congress. We now call on you to respond quickly and comprehensively to these privacy violations by revoking DOGE’s access to VA systems and insisting they permanently remove all VA data collected from their files.

    MIL OSI USA News –

  • MIL-OSI USA: Murray, Merkley, Heinrich Lead Western Senators in Letter to Interior Secretary, Acting Agriculture Secretary: Trump’s Illegal Funding Cuts Threaten Wildfire Mitigation Efforts

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, joined Senators Jeff Merkley (D-OR), Ranking Member of the Senate Appropriations Subcommittee that funds the Department of the Interior and Department of Agriculture’s Forest Service, and Senator Martin Heinrich (D-NM), Ranking Member of the Senate Committee on Energy and Natural Resources, and other Western U.S. Senators in sounding the alarm over reports the Bureau of Land Management issued stop work orders to small businesses and organizations across America related to the removal of hazardous fuels in our public lands and rumors of forthcoming stop work orders at the United States Forest Service. Delaying these treatments even for a short period can mean missing out on the right seasonal and weather conditions for safely treating hazardous fuels. 

    The senators’ letter—addressed to recently confirmed Interior Secretary Doug Burgum and Acting Agriculture Secretary Gary Washington—follows President Donald Trump’s illegal executive orders cutting federal funds to mitigate and fight wildfires and comes as communities nationwide prepare for wildfire season.

    “Catastrophic wildfires across the United States are an ongoing national crisis and responding to them must be a national priority. These stop work orders and funding freezes jeopardize communities that depend on a robust federal response to our wildfire crisis – and also jeopardize small businesses, often in frontier and rural communities, that are contracted to do the work on the ground to reduce hazardous fuels,” wrote the senators.

    “As we’ve seen with the recent fires surrounding Los Angeles, wildfire does not distinguish between homes and trees. But we do have ways to mitigate the risk,” the senators continued. “One of the most effective strategies to reduce that risk is to reduce the hazardous natural fuels that surround our communities. These fuels reduction projects save lives and property, reduce the danger to firefighters, and return our lands to a fire-adapted ecosystem that can better withstand the threat to human life, communities, infrastructure, and property.  

    “By terminating or even pausing these projects, all of the progress made at protecting these communities is at risk. We are imploring you to rescind the order to stop work on these hazardous fuels reduction efforts, as well as any other wildland fire management programs that are working to reduce risk and safeguard communities from catastrophic wildfire,” the senators concluded.

    The letter was also signed by U.S. Senators Michael Bennet (D-CO), Maria Cantwell (D-WA), Catherine Cortez Masto (D-NV), Ruben Gallego (D-AZ), John Hickenlooper (D-CO), Mark Kelly (D-AZ), Ben Ray Luján (D-NM), Alex Padilla (D-CA), Jacky Rosen (D-NV), Adam Schiff (D-CA), and Ron Wyden (D-OR).

    Full text of the letter is HERE and below:

    Dear Secretary Burgum and Acting Secretary Washington,

    We are writing with great concern about reports from our constituents that the Bureau of Land Management has issued stop work orders for hazardous fuels reduction projects. We are further concerned that fuels projects overseen by the U.S. Forest Service will be next. These projects are integral to increased safety and resiliency and any delay in implementation puts those communities at greater risk. We urge you to immediately rescind these stop work orders, halt any further stop work orders or funding freezes, and instead work with the tools and funds Congress has provided to better safeguard our communities from the serious risk of catastrophic wildfire.

    These projects are part of the Wildfire Crisis Strategy, funded by the Infrastructure and Investment in Jobs Act (IIJA) and the Inflation Reduction Act (IRA). Investing in fuels reduction treatments is a primary recommendation in the Wildland Fire Mitigation and Management Commission Report, a nonpartisan strategy document to tackle the myriad challenges associated with wildfire across the country. We also note with alarm that this report was removed from federal websites this week.

    In 2022, the Forest Service identified high-risk firesheds across the country to be prioritized for hazardous fuels reduction work through the Wildlife Crisis Strategy and Implementation Plan. The Forest Service chose 10 high-priority landscapes with the enactment of IIJA and an additional 11 landscapes with the enactment of IRA – each of these landscapes require significant investment to reduce wildfire risk. These 21 landscapes were awarded a total of $1.73 billion to protect at-risk communities, critical infrastructure, public water sources, and adjacent Tribal lands in 10 Western states: Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, and Washington. The Bureau of Land Management, Forest Service, States, Tribes, local stakeholders, and small businesses have been working together over the last three years to implement fuels reduction on these landscapes.

    Catastrophic wildfires across the United States are an ongoing national crisis and responding to them must be a national priority. These stop work orders and funding freezes jeopardize communities that depend on a robust federal response to our wildfire crisis – and also jeopardize small businesses, often in frontier and rural communities, that are contracted to do the work on the ground to reduce hazardous fuels. 

    In addition to endangering communities, the President’s Executive Orders freezing funding are flagrantly illegal. The Government Accountability Office, the Department of Justice Office of Legal Counsel (including in an opinion written by future Chief Justice of the Supreme Court, William H. Rehnquist), and the Supreme Court of the United States have all disavowed the notion of some “inherent Presidential power to impound,” as some in the Administration, as well as pending Administration nominees, have tried to argue without legal or textual basis.

    Not only does the Constitution vest the power of the purse with Congress and provide no power to the President to impound funds, but there have been several bedrock fiscal statutes enacted to protect Congress’ constitutional power of the purse and prevent unlawful executive overreach, including the Antideficiency Act and the Impoundment Control Act of 1974 (ICA). The ICA prohibits any action or inaction that precludes Federal funds from being obligated or spent, either temporarily or permanently, without following the strictly circumscribed requirements of that law, which have not been honored in this instance.

    As we’ve seen with the recent fires surrounding Los Angeles, wildfire does not distinguish between homes and trees. But we do have ways to mitigate the risk. One of the most effective strategies to reduce that risk is to reduce the hazardous natural fuels that surround our communities. These fuels reduction projects save lives and property, reduce the danger to firefighters, and return our lands to a fire-adapted ecosystem that can better withstand the threat to human life, communities, infrastructure, and property.  

    By terminating or even pausing these projects, all of the progress made at protecting these communities is at risk. We are imploring you to rescind the order to stop work on these hazardous fuels reduction efforts, as well as any other wildland fire management programs that are working to reduce risk and safeguard communities from catastrophic wildfire.

    We hope to work with you to combat the scourge of catastrophic wildfire.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Murray Statement on Trump Dismantling Department of Education’s Research Arm

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), a senior member and former Chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, issued the following statement on the Trump administration and Elon Musk gutting the U.S. Department of Education’s Institute of Education Sciences (IES).

    “Every kid deserves a great public education and that can’t happen without nonpartisan research and data to understand what’s working and what needs to be fixed. Instead, an unelected billionaire is now bulldozing the research arm of the Department of Education—taking a wrecking ball to high-quality research and basic data we need to improve our public schools. Cutting off these investments after the contract has already been inked is the definition of wasteful.

    “Elon Musk doesn’t care if working class kids in America get a good education, so whittling down the Department of Education means nothing to him. Make no mistake, this is just the first step Trump and Musk are taking to abolish the Department of Education, leaving our public schools with fewer resources and support to pay for massive tax cuts for billionaires and giant corporations. This former preschool teacher refuses to roll over and let Elon Musk gut public education in America. I’ll be sounding the alarm with every parent, student, and teacher who believes in public education to stand up to Elon and Trump’s illegal power grab.”

    A senior member and former chair of the HELP Committee, Senator Murray has championed students and families at every stage of her career—fighting to help ensure every child in America can get a high-quality public education. Among other things, Senator Murray negotiated the bipartisan Every Student Succeeds Act (ESSA), landmark legislation that she got signed into law, replacing the broken No Child Left Behind Act. As a longtime appropriator, she has successfully fought to boost funding to support students and invest in our nation’s K-12 schools, and she has secured significant increases to the Pell Grant so that it goes further for students pursuing a higher education. Senator Murray also led the Foundations for Evidence-Based Policymaking Act of 2018, landmark legislation on the use and development of evidence and data in federal policymaking across federal agencies.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Youth employment expo to be held

    Source: Hong Kong Information Services

    The Labour Department will hold the Youth Employment Expo in Wan Chai on February 15, with more than 1,200 on-the-job training vacancies on offer for young people aged 29 or below to work locally and in the Greater Bay Area (GBA) Mainland cities.

     

    The expo is an event jointly organised by the Greater Bay Area Youth Employment Scheme, the Youth Employment & Training Programme (YETP) and the Youth Employment Start (Y.E.S.) 

     

    A total of 47 organisations from various industries, including airline services, hotels, banking, public services, retail, transport, construction, catering, tourism, security and technology, will join the expo.

     

    The event will be held from 11am to 6pm at the Convention & Exhibition Centre and admission is free. Young job seekers can submit applications on-site and may be selected for on-the-spot interviews.

     

    Additionally, the expo features career talks, sharing sessions, course introduction and demonstration of the programmes, employment consultation, interview preparation consultation and resume photo shooting. Plus, singers plan to share their stories of pursuing their own career developments.

     

    Furthermore, the Youth Entrepreneurship Bazaar will also be run by business members of Y.E.S. at the expo, selling a diverse range of handcrafted and innovative products.

     

    Last year’s Policy Address announced measures to strengthen employment services and support for young people from this year, including relaxing the eligibility requirements for the GBA Youth Employment Scheme to allow young people aged 29 or below with sub-degree or higher qualifications to join the scheme and increasing the allowance granted to enterprises.

     

    Moreover, the upper age limit for YETP participants has been raised to provide employment support services to young people aged 15 to 29 with sub-degree or below qualifications.

     

    Click here for more details about the expo.

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: 2025 Pacific Judicial Conference

    Source: New Zealand Governor General

    Rau rangatira mā, e huihui nei, tēnei aku mihi nui ki a koutou. Nau mai haere mai ki Te Whare Kawana o Tāmaki Makaurau. Kia ora tātou katoa.

    I’d like to specifically acknowledge: Rt Hon Dame Helen Winkelmann, Chief Justice of New Zealand, and Rt Hon Winston Peters, Deputy Prime Minister.

    And to all our very distinguished international guests here this evening – including representatives from 15 Pacific Island nations, as well as Singapore, Malaysia, Brunei Darussalam, the Philippines, Australia, the United Kingdom, and the United States of America. I’m delighted to note that Chief Justice of the Federal Court of Australia, The Honourable Debra Mortimer, is in fact a New Zealander from Kaipara.

    I understand that the last Pacific Judicial Conference to be held in Aotearoa New Zealand was over ten years ago, in 2014, when my predecessor, Sir Jerry Mateparae, hosted an equivalent gathering here at Government House Auckland. It feels especially fitting that this conference should return to Tāmaki Makaurau, this beautiful city, and one of the world’s most diverse, which has long borne the mantle of Polynesian Capital of the World.

    Such a diverse and distinguished gathering no doubt brings with you an immense breadth of experiences, perspectives, and areas of legal expertise.

    It was former American Chief Justice, Earl Warren, who once said: ‘It is the spirit and not the form of the law that keeps justice alive.’ As leaders of your respective and highly-diverse judiciaries, I’m sure you find yourselves grappling with many of the same issues: safeguarding judicial independence and respect for the rule of law; the opportunities and dangers of technology; ensuring diversity within the judiciary; geopolitical unrest; and the ongoing existential threat of climate change – all topics I’m heartened to note on the agenda for this conference.

    Its overarching theme, ‘Strengthening the Institution of the Judiciary – Kia Tū Pakari ai te Whare Whakawā’, feels particularly apt in the face of such issues – acknowledging, as it does, that without strong and trusted public institutions, society loses its capacity to meet and overcome these challenges.

    I trust that these days together afford an environment conducive to rich and challenging discussions, and lay the foundation for lasting relationships and productive collaboration across your judiciaries.

    Throughout my own career, straddling both academia and the public sector, I recall how enriching and rewarding I found these kinds of gatherings – leaving me so often deeply inspired, and filled with a renewed sense of purpose as I returned to my role, whether leading a university, or advocating for the wellbeing of children and families.

    In this next stage of my career, serving as New Zealand’s Governor-General, I have found myself with my own responsibilities in the application and safeguarding of New Zealand law: responsibilities I hold most sacred. They have also given me a new and profound appreciation for the judiciary, and the demanding work you do in the service of society.

    The questions that you contend with fundamentally shape the world we inhabit and share: determining whether or not our societies are fair; whether or not people are treated equally, regardless of gender or beliefs or background; and whether or not our planet will survive.

    I acknowledge, in grappling with these questions through the application of the law and your own scrupulous intellectual and moral standards, the great and often lonely responsibility you each bear. However, I have little doubt that you view that responsibility, and your service to your respective countries, not as a burden, but a privilege.

    In te reo Māori, we have a whakataukī, or a proverb, which says: ‘Ka kuhu au ki te ture, hei matua mō te pani. I seek refuge in the law for it is a parent to the oppressed.’ I wish to take this opportunity to thank you, for all that you do as parents of the oppressed, and our societies’ upholders of goodness, fairness, and justice.

    I also wish to once again thank Dame Helen – our own outstanding Chief Justice – for so graciously stepping into the Administrator’s role whenever I have been fulfilling my vice-regal duties overseas.

    To those of you visiting New Zealand for the first time, I hope you have the opportunity to experience a little more of our country while you are here, and to spend some time exploring this beautiful city. In the meantime, I wish you all a most rewarding and enjoyable few days.

    Nō reira, tēnā koutou, tēnā koutou, tēnā tātou katoa.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Experts chosen for electricity market review

    Source: New Zealand Government

    The Government has appointed independent experts to review the performance of the electricity markets, Energy Minister Simon Watts and Associate Energy Minister Shane Jones say.

    “The power crisis we experienced last winter highlighted how important affordable and secure electricity at internationally competitive prices is to the economic growth and prosperity of Kiwi households and businesses alike,” Mr Watts says.

    “Energy security is a top priority for the Coalition Government as the economy electrifies and we work to double New Zealand’s renewable electricity generation. We expect to see market-led approaches to energy security throughout the transition, and we want to make sure the markets are performing effectively.

    “This review will help ensure our regulatory settings can deliver on the long-term interests of consumers, keep prices down for Kiwis and keep the lights on.

    “From the review’s inception, we were clear that we needed experts capable of bringing a fresh perspective to the complex challenges facing our markets. Those chosen are well-qualified with significant expertise in international electricity market design, risk management, competition policy and financial instruments.”

    Mr Jones says New Zealand cannot afford another winter like 2024 in which businesses shut down, manufacturing ground to a halt, and cheap coal was brought in from overseas kept the lights on.

    “If we are to grow the economy, we cannot allow a shortage of power to stunt that growth. We are a resourceful nation and our businesses have to be able to continue without worrying whether they can afford the power bill or having to choose between shutting down production or keeping staff.”

    Global consultancy Frontier Economics will be the lead reviewer, addressing the seven questions specified in the review’s terms of reference.

    The two peer review roles will be taken on by a team of international experts in energy economics with particular expertise in market design. The peer reviewers will provide an added layer of quality assurance and accuracy to ensure the review reports are robust and reliable.

    New Zealand-based Concept Consulting will act as New Zealand expert advisor, responsible for ensuring Frontier Economics has solid awareness and understanding of the New Zealand context.

    “Collectively, these independent experts bring a wealth of experience, insight, and the fresh perspectives needed for this type of review,” Mr Watts says.

    Ministers expect the review’s final reports to be delivered by the end of June, after which Cabinet will make decisions on next steps.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Discover what the World Heritage Listing bid for Victorian Goldfields means at a public talk

    Source: State of Victoria Local Government 2

    The Victorian Goldfields has been officially included on the UNESCO World Heritage Tentative List and the community can learn more about what this means at a public talk next week.

    The public talk is on Monday February 17 from 6pm to 7.30pm at the La Trobe Art Institute, View Street, Bendigo. It is focused on informing the community and local businesses about the positive outcomes if the World Heritage bid is successful.

    The Victorian Goldfields are the most extensive, coherent, and best-surviving goldrush landscapes in the world. Obtaining a World Heritage listing is a proven catalyst for new opportunities as seen elsewhere, such as the Great Barrier Reef. The status can lead to immediate and long-term benefits, including investment, tourism, and jobs.

    The public talk includes a presentation from the City of Greater Bendigo World Heritage Strategic Projects Officer Trevor Budge who is on the World Heritage Bid Project Team.

    There will also be a panel discussion with Euan McGillivray from the Bendigo Historical Society, Chair Bendigo Tourism Board Kath Bolitho, CEO Bendigo Heritage Attractions James Reade, City of Greater Bendigo Manager Economy & Experience James Myatt, and Bendigo Branch President of the National Trust Peter Cox.

    World Heritage Strategic Projects Officer Trevor Budge said the tentative listing acknowledged the significance of the Victorian Goldfields.

    “The public talk will explain why the Victorian Goldfields are worthy of world recognition, what steps are needed to be ready for the possible final designation in mid 2027, and how the community and businesses can be further involved in this nomination,” Mr Budge said.

    “With the support of Traditional Owners, we’re working on a confirmed list of places that ensures the best examples of the lasting legacy of the Victorian Goldfields are celebrated and that this critical piece of Australia’s history is conserved and shared with future generations.

    “If this bid succeeds, the benefits for Greater Bendigo and other places in the Victorian Goldfields will be far reaching with a significant increase in tourism from across the world wanting to experience our gold rush story. The economic modelling forecasting estimates a Victorian Goldfields World Heritage site could attract 2.5 million new visitors to the region over 10 years, injecting more than $500M into local economies.”

    National Trust Bendigo Branch President Peter Cox said the public talk was a wonderful way for the community to hear about the extraordinary outcomes that could flow from a permanent World Heritage listing.

    “Thousands of extra visitors will boost economic activity, create new jobs and investment throughout Victoria with heritage being promoted in many small and large towns. Bendigo’s urban settlement displays many homes from the gold rush era, its architecture of grand buildings is world renowned, and it has many attractions based on tourism that depicts 19th century history.” Mr Cox said.

    Getting the Victorian Goldfields on the Tentative List was critical, as Australia can only make one nomination to UNESCO per year and there are many other places from around Australia that were being considered.

    The City of Greater Bendigo, City of Ballarat and 13 other local government authorities are involved in the listing bid with support from Traditional Owners.

    To register your attendance, please email or SMS:

    [email protected]

    0447 473 674

    MIL OSI News –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 11, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 2,00,000
    Total amount of bids received (in ₹ crore) 2,03,022
    Amount allotted (in ₹ crore) 2,00,036
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.27
    Partial Allotment Percentage of bids received at cut off rate (%) 97.01

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2126

    MIL OSI Economics –