Category: Agriculture

MIL-OSI: Cerence to Participate in Two Upcoming Investor Conferences

Source: GlobeNewswire (MIL-OSI)

BURLINGTON, Mass., May 15, 2025 (GLOBE NEWSWIRE) — Cerence Inc. (NASDAQ: CRNC) (“Cerence AI”), a global leader pioneering conversational AI-powered user experiences, today announced that the company will participate in two upcoming investor conferences.

On Thursday, May 29, 2025, at 10:50 a.m. ET, Tony Rodriquez, the Company’s CFO, will participate in a fireside chat at the TD Cowen 53^rd Annual Technology, Media and Telecom Conference.

On Tuesday, June 10, 2025, at 12:30 p.m. ET, Mr. Rodriquez will participate in a fireside chat at the Evercore ISI Global Automotive OEM, Dealer & Supplier Conference.

Live webcasts of the events will be available on the Company’s website at www.cerence.ai under the “Investors” section. Replays of the webcasts will be available for 90 days after the events.

To learn more about Cerence AI, visit www.cerence.ai, and follow the company on LinkedIn.

About Cerence Inc.
Cerence Inc. (NASDAQ: CRNC) is a global industry leader in creating intuitive, seamless, AI-powered experiences across automotive and transportation. Leveraging decades of innovation and expertise in voice, generative AI, and large language models, Cerence powers integrated experiences that create safer, more connected, and more enjoyable journeys for drivers and passengers alike. With more than 500 million cars shipped with Cerence technology, the company partners with leading automakers, transportation OEMs, and technology companies to advance the next generation of user experiences. Cerence is headquartered in Burlington, Massachusetts, with operations globally and a worldwide team dedicated to pushing the boundaries of AI innovation. For more information, visit www.cerence.ai.

The MIL Network –

May 16, 2025

MIL-OSI: Marex Group plc announces strong results for first quarter of 2025

Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) — Marex Group plc (‘Marex’ or the ‘Group’; Nasdaq: MRX) a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets, today reported financial results for the first quarter (‘Q1 2025’).

Ian Lowitt, Group Chief Executive Officer, stated, “Robust levels of client activity across our businesses and positive market conditions led to a strong performance in the first quarter of the year. Adjusted profit before tax grew 42% year-on-year, driven by strong revenue growth in all our business segments. This reflects the continued successful execution of our strategy to expand our geographic footprint and product capabilities, growing our client base, increasing diversification and driving greater earnings resilience. In early April, we experienced some very high-volume days which we processed successfully, reflecting the operational resilience of our platform. We maintained record levels of liquidity and remained disciplined in managing our risk while supporting our clients. We were also delighted with the strong demand from investors for our second follow-on equity offering in challenging markets, further increasing our public float, as well as another successful debt issuance, further diversifying our sources of funding and increasing our liquidity position.”

Financial and Operational Highlights:

Strong Q1 performance: Robust client activity and positive market conditions drove 42% growth in Adjusted Profit before Tax¹ to $96.3 million
Revenue increased by 28% to $467.3m with strong revenue growth across all our business segments
- Agency and Execution in particular increased revenue by 42% to $239.5m, driven by growth in Securities revenues across asset classes and continued build-out of Prime Services, as well as strong growth in the Energy business
April market conditions: At the start of April, we experienced highly elevated volumes which have since returned to more normalised levels. Our ability to process these volumes demonstrates the operational resilience of the firm and scalability of our platform. We also maintained record levels of liquidity and remained disciplined in managing our risk while supporting our clients
Executed growth strategy: Aarna Capital acquisition completed at the end of March, growing our Clearing presence in the Middle East, as we continued to diversify our platform and drive greater earnings resilience
Successful secondary equity placement: Significantly oversubscribed transaction resulted in existing shareholders placing an upsized 11.8 million shares with institutional investors in April, further increasing public float to approximately 70%
Prudent approach to capital and funding: Successfully issued $500 million 3-year senior unsecured notes in May, further diversifying our funding sources while maintaining a strong capital and liquidity position
Dividend: Q1 2025 dividend increased to $0.15 per share, to be paid in the second quarter of 2025

Financial Highlights: ($m)	3 months ended 31 March 2025	3 months ended 31 March 2024	Change

Revenue	467.3	365.8	28%
Profit Before Tax	98.0	58.9	66%
Profit Before Tax Margin (%)	21%	16%	500 bps
Profit After Tax	72.5	43.6	66%
Profit After Tax Margin (%)	16%	12%	400 bps
Return on Equity (%)	29%	23%	600 bps
Basic Earnings per Share ($)²	0.98	0.60	63%
Diluted Earnings per Share ($)²	0.92	0.56	64%

Adjusted Profit Before Tax¹	96.3	67.7	42%
Adjusted Profit Before Tax Margin (%)¹	21%	19%	200 bps
Adjusted Profit after Tax
Attributable to Common Equity¹	68.2	48.9	39%
Adjusted Return on Equity (%)¹	30%	29%	100 bps
Adjusted Basic Earnings per Share ($)^1,2	0.97	0.74	31%
Adjusted Diluted Earnings per Share ($)^1,2	0.91	0.69	32%

These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such non-IFRS measure to its most directly comparable IFRS measure. The Group changed the labelling of its non-IFRS measures during 2024 to better align to the equivalent IFRS reported metric and enhance transparency and comparability.
Weighted average number of shares have been restated as applicable for the Group’s reverse share split (refer to Appendix 1 for further detail).

Conference Call Information:
Marex’s management will host a conference call to discuss the Group’s financial results today, 15 May 2025, at 9am Eastern Time. A live webcast of the call can be accessed from Marex’s Investor Relations website. An archived version will be available on the website after the call. To participate in the Conference Call, please register at the link here: https://edge.media-server.com/mmc/p/zudci4bx/

Enquiries please contact:
Marex
Investors – Adam Strachan
+1 914 200 2508 / astrachan@marex.com

Media – Nicola Ratchford, Marex / FTI Consulting US / UK
+44 7786 548 889 / nratchford@marex.com / +1.716.525.7239/ +44 7976870961
| marex@fticonsulting.com

Financial Review

The following table presents summary financial results and other data as of the dates and for the periods indicated:

Summary Financial Results

	3 months ended 31 March 2025	3 months ended 31 March 2024
	$m	$m	Change
– Net commission income	250.7	218.9	15%
– Net trading Income	159.1	106.2	50%
– Net interest income	53.4	35.6	50%
– Net physical commodities income	4.1	5.1	(20)%
Revenue	467.3	365.8	28%

Compensation and benefits	(291.7)	(229.9)	27%
Depreciation and amortisation	(7.9)	(7.8)	1%
Other expenses	(73.8)	(69.6)	6%
Provision for credit losses	—	0.3	n.m.²
Bargain purchase gain on acquisitions	3.4	—	n.m.²
Other income	0.7	0.1	600%
Profit Before Tax	98.0	58.9	66%
Tax	(25.5)	(15.3)	67%
Profit After Tax	72.5	43.6	66%
Reconciliation to Adjusted Profit Before Tax¹
Profit Before Tax	98.0	58.9	66%
Bargain purchase gain	*(3.4)*	—	n.m.²
Acquisition related costs	—	0.2	n.m.²
Amortisation of acquired brands and customer lists	*1.3*	0.8	63%
Activities relating to shareholders	—	2.4	n.m.²
Owner fees	*0.4*	1.7	(76)%
IPO preparation and public offering of ordinary shares	—	3.7	n.m.²
Adjusting items	*(1.7)*	8.8	(119)%
Adjusted Profit Before Tax¹	96.3	67.7	42%

These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such non-IFRS measure to its most directly comparable IFRS measure.
n.m. = not meaningful to present as a percentage.

Costs and Group Headcount

The Board and Senior Management also monitor costs split between Front Office Costs and Control and Support Costs to better understand the Group’s performance. The table below provides the Group’s management view of costs:

	3 months ended 31 March 2025	3 months ended 31 March 2024
	$m	$m	Change
Front office costs¹	(258.4)	(210.1)	23%
Control and support costs¹	(106.8)	(80.6)	33%
Total	(365.2)	(290.7)	26%

1) Management review Front Office Costs and Control and Support Costs when assessing Adjusted Profit Before Tax performance. These costs are included within compensation and benefits, other expenses and depreciation and amortisation in the Statutory Income Statement provided above.

The following table provides a breakdown of Front Office and Control and Support Headcount

Full Time Equivalent (‘FTE’) headcount¹	31 March 2025	31 March 2024		31 March 2025	31 March 2024
	Average	Average	Change	End of Period	End of Period	Change
Front office	1,284	1,236	4%	1,288	1,250	3%
Control and support	1,183	1,015	17%	1,215	1,030	18%
Total	2,467	2,251	10%	2,503	2,280	10%

1) For analysis purposes, average headcount is used in the performance commentary outlined below.

Performance for the three months ended 31 March 2025

Revenue grew by 28% to $467.3m (Q1 2024: $365.8m) with strong growth across all business segments, as we continue to diversify our platform and drive greater earnings resilience. This growth was driven by robust client activity and positive market conditions.

Net commission income increased by 15% to $250.7m (Q1 2024: $218.9m). The growth was driven by Agency and Execution, which grew 22% to $182.9m (Q1 2024: $150.5m) reflecting a strong performance in Securities and Energy, supported by record transaction volumes.

Net trading income increased by 50% to $159.1m (Q1 2024: $106.2m). The growth was driven by a $40.8m increase in Agency and Execution to $49.9m (Q1 2024: $9.1m), mainly due to Rates, FX and Equities. The most significant contribution came from the continued build-out of our Prime Services capabilities, which grew by $33.4m, including growth in our securities based swaps offering. In addition, Net trading income in our Market Making segment increased by $10.7m to $54.9m (Q1 2024: $44.2m) driven by growth in all asset classes.

Net interest income increased by 50% to $53.4m (Q1 2024: $35.6m) reflecting $5.8bn growth in average balances to $17.1bn, which more than offset lower average Fed Funds rates compared to Q1 2024.

Front office costs increased by 23% to $258.4m (Q1 2024: $210.1m), predominantly reflecting higher compensation costs on strong revenue performance across the Group. Front office headcount growth reflected restructuring activity in Agency and Execution and reallocation of FTE from front office to control and support in Q2 2024. Excluding these, average front office FTE headcount grew by 11% year on year.

Control and support costs increased by 33% to $106.8m (Q1 2024: $80.6m). This was primarily driven by investment in technology to support automation and business growth, as well as investments in our finance, risk, and compliance functions to support our controlled growth and development as a public company. This also included specific investments relating to acquisitions and our compliance with Sarbanes-Oxley.

Reported Profit Before Tax increased by 66% to $98.0m (Q1 2024: $58.9m), driven by strong revenue growth and improved operating margins.

Adjusting items reduced by $10.5m to $(1.7)m (Q1 2024: $ 8.8m). These costs are primarily related to corporate activities and are recognised within our Corporate segment. Adjusting items reduced mainly due to IPO-related costs and owner fees in Q1 2024, as well as a bargain purchase gain on an acquisition in Q1 2025.

As a result of the revenue and cost trends noted above, Adjusted Profit Before Tax¹ increased by 42% to $96.3m (Q1 2024: $67.7m) and Adjusted Profit Before Tax Margin¹ improved to 21% (Q1 2024: 19%), while Profit After Tax Margin increased to 16% (Q1 2024: 12%).

These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such non-IFRS measure to its most directly comparable IFRS measure.

	3 months ended 31 March 2025	3 months ended 31 March 2024	Change
Average Fed Funds rate	4.3%	5.3%	(100)bps
Average balances ($bn)¹	17.1	11.3	5.8
Interest income ($m)	178.9	147.3	31.6
Interest paid out ($m)	(59.6)	(60.9)	1.3
Interest on balances ($m)	119.3	86.4	32.9
Net yield on balances	2.8%	3.1%	(30)bps
Average notional debt securities ($bn)	(4.1)	(2.5)	(1.6)
Yield on debt securities %	6.6%	8.1%	(150)bps
Interest expense ($m)	(65.9)	(50.8)	(15.1)
Net Interest Income ($m)	53.4	35.6	17.8

Average balances are calculated using an average of the daily holdings in exchanges, banks and other investments over the period. Previously, average balances were calculated as the average month end amount of segregated and non-segregated client balances that generated interest income over a given period.

Segmental performance

Clearing

Marex provides clearing services across the range of energy, commodity and financial markets. We face the exchange on behalf of our clients providing access to 60 exchanges globally.

Performance for the three months ended 31 March 2025

Clearing performed well with revenue increasing 18% to $119.2m (Q1 2024: $100.7m). This was driven by net interest income which rose by $18.2m to $48.4m (Q1 2024: $30.2m) reflecting higher average balances as we continued to add new clients, more than offsetting lower average Fed Funds rates compared to Q1 2024. Net commission income reduced by 2%, $1.7m, as positive performance in energy and metals was offset by lower levels of activity in agriculture, which benefited from higher volatility in Q1 2024 relative to Q1 2025.

Adjusted Profit Before Tax¹ increased by 14% to $56.6m (Q1 2024: $49.8m). Adjusted Profit Before Tax Margin¹ decreased by 200 bps to 47% (Q1 2024: 49%).

	3 months ended 31 March 2025	3 months ended 31 March 2024
	$m	$m	Change
Net commission income	67.8	69.5	(2%)
Net interest income	48.4	30.2	60%
Net trading income	3.0	1.0	200%
Revenue	119.2	100.7	18%
Front office costs	(42.2)	(33.5)	26%
Control and support costs	(20.3)	(17.3)	17%
Depreciation and amortisation	(0.1)	(0.1)	—%

Adjusted Profit Before Tax ($m)¹	56.6	49.8	14%
Adjusted Profit Before Tax Margin¹	47%	49%	(200)bps

Front office headcount (No.)²	273	266	3%

	12 months ended 31 March 2025	12 months ended 31 March 2024	Change
Contracts cleared (m)	1,161	913	27%
Market volumes (m)³	11,891	10,194	17%

These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such non-IFRS measure to its most directly comparable IFRS measure.
The headcount is the average for the period. Management have re-assessed headcount for Clearing and Market Making and re-allocated for Q1 25 and Q1 24.
On a twelve month rolling basis.

Agency and Execution

Agency and Execution provides essential liquidity and execution services to our clients primarily in the energy and financial securities markets.

Our energy division provides essential liquidity to clients by connecting buyers and sellers in the OTC energy markets to facilitate price discovery. We have leading positions in many of the markets we operate in, including key gas and power markets in Europe; environmental, petrochemical and crude markets in North America; and fuel oil, LPG (liquefied petroleum gas) and middle distillates globally. We achieve this through the breadth and depth of the service we offer to customers, including market intelligence for each product we transact in, based on the extensive knowledge and experience of our teams.

Our presence in the financial markets is growing as we integrate and optimise recent acquisitions, enabling Marex to diversify its asset class coverage away from traditional commodity markets. We are starting to see a maturation of our offering across all asset classes, contributing to enhanced revenue growth and margin expansion for the overall business.

Performance for the three months ended 31 March 2025

Revenue increased by 42% to $239.5m (Q1 2024: $168.1m). Securities revenues, increased by $56.1m to $151.0m (Q1 2024: $94.9m) driven by growth in all asset classes from a significant increase in transaction volumes. The most significant contribution came from the continued build out of our Prime Services offering, including growth in securities based swaps. This was supplemented further by strong growth in our Energy business where revenues increased by $15.0m to $88.2m (Q1 2024: $73.2m), reflecting a combination of record volumes, good demand for our environmentals offering and the benefit of our bolt-on acquisitions.

Adjusted Profit Before Tax¹ increased by 152% to $56.7m (Q1 2024: $22.5m) while Adjusted Profit Before Tax Margin¹ increased to 24% (Q1 2024: 13%) The margin improvement was driven by the benefit from restructuring in the business, as well as growth in higher margin activity, particularly Prime Services.

	3 months ended 31 March 2025	3 months ended 31 March 2024
	$m	$m	Change
Securities	151.0	94.9	59%
Energy	88.2	73.2	20%
Other revenue	0.3	—	n.m.³
Revenue	239.5	168.1	42%
Front office costs	(161.7)	(131.0)	23%
Control and support costs	(21.0)	(14.1)	49%
Provision for credit losses	—	(0.3)	n.m.³
Depreciation and amortisation	(0.1)	(0.2)	(50)%

Adjusted Profit Before Tax ($m)¹	56.7	22.5	152%
Adjusted Profit Before Tax Margin¹	24%	13%	1,100 bps

Front office headcount (No.)²	670	679	(1)%

	12 months ended 31 March 2025	12 months ended 31 March 2024	Change
Marex volumes: Energy (m)⁴	60	51	18%
Marex volumes: Securities (m)⁴	302	249	21%
Market volumes: Energy (m)⁴	1,816	1,477	23%
Market volumes: Securities (m)⁴	11,330	9,872	15%

These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such non-IFRS measure to its most directly comparable IFRS measure.
The headcount is the average for the period.
n.m. = not meaningful to present as a percentage.
On a rolling twelve month basis

Market Making

Our Market Making business provides direct liquidity to our clients across a variety of products, primarily in the energy, metals and agriculture markets. This ability to make prices and trade as principal in a wide variety of energy, environmentals and commodity markets differentiates us from many of our competitors.

Performance for the three months ended 31 March 2025

Revenue increased by 27% to $52.9m (Q1 2024: $41.8m). This was driven by growth in all asset classes, in particular Securities revenues which increased by $7.2m primarily from growth in stock lending, which complements our Prime Services offering within Agency and Execution. Metals revenues growth was more muted, at 6%, due to the uncertainty arising from the potential implementation of global tariffs on base metals.

Adjusted Profit Before Tax¹ increased by 58% to $16.8m (Q1 2024: $10.6m), while Adjusted Profit Before Tax Margin¹ increased to 32% (Q1 2024: 25%).

	3 months ended 31 March 2025	3 months ended 31 March 2024
	$m	$m	Change
Metals	22.7	21.4	6%
Agriculture	7.2	5.6	29%
Energy	8.6	7.6	13%
Securities	14.4	7.2	100%
Revenue	52.9	41.8	27%
Front office costs	(28.9)	(22.9)	26%
Control and support costs	(7.1)	(8.2)	(13)%
Depreciation and amortisation	(0.1)	(0.1)	0%

Adjusted Profit Before Tax ($m)¹	16.8	10.6	58%
Adjusted Profit Before Tax Margin¹	32%	25%	700 bps

Front office headcount (No.)²	144	125	15%

These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such non-IFRS measure to its most directly comparable IFRS measure.
The headcount is the average for the period. Management have re-assessed headcount for Clearing and Market Making and re-allocated for Q1 25 and Q1 24.

Hedging and Investment Solutions

Our Hedging and Investment Solutions business provides high quality bespoke hedging and investment solutions to our clients.

Tailored commodity hedging solutions enable corporates to hedge their exposure to movements in energy and commodity prices, as well as currencies and interest rates, across a variety of different time horizons.

Our financial products offering allows investors to gain exposure to a particular market or asset class, for example equity indices, in a cost-effective manner through a structured product.

Performance for the three months ended 31 March 2025

Revenue grew by 9% to $45.0m (Q1 2024: $41.3m) driven by continued strong client demand and as we expanded the sales team which led to the onboarding of new clients. Financial products increased 41% to $30.7m (Q1 2024: $21.8m) as structured notes balances grew 49%. Hedging solutions decreased by 27% to $14.3m (Q1 2024: $19.5m) reflecting higher volatility in agriculture in Q1 2024 relative to Q1 2025.

Adjusted Profit Before Tax¹ decreased by 7% to $11.1m (Q1 2024: $11.9m), while Adjusted Profit Before Tax Margin¹ decreased to 25% (Q1 2024: 29%), reflecting investment in our sales team and as a result of ongoing investment in our technology and platform to support future growth.

	3 months ended 31 March 2025	3 months ended 31 March 2024
	$m	$m	Change
Hedging solutions	14.3	19.5	(27)%
Financial products	30.7	21.8	41%
Revenue	45.0	41.3	9%
Front office costs	(25.6)	(22.7)	13%
Control and support costs	(8.1)	(6.6)	23%
Depreciation and amortisation	(0.2)	(0.1)	100%

Adjusted Profit Before Tax ($m)¹	11.1	11.9	(7)%
Adjusted Profit Before Tax Margin¹	25%	29%	(400 bps)

Front office headcount (No.)²	197	166	19%
Structured notes balance ($m)³	3,123.3	2,095.6	49%

These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such non-IFRS measure to its most directly comparable IFRS measure.
The headcount is the average for the period.
The Structured Notes portfolio consisted of 5,099 notes with an average maturity of 16 months and a total value of $3,123.3m (2024: 2,999 notes with an average maturity of 15 months and a total value of $2,095.6m).

Corporate

The Corporate segment includes the Group’s control and support functions. Corporate manages the resources of the Group, makes investment decisions and provides operational support to the business segments. Corporate Net Interest Income is derived through earning interest on house cash balances placed at banks and exchanges.

Revenue decreased by $3.2m to $10.7m (Q1 2024: $13.9m) driven by lower investment returns on House cash balances from a reduction in the average Fed Funds rate.

	3 months ended 31 March 2025	3 months ended 31 March 2024
	$m	$m	Change
Revenue	10.7	13.9	(23%)
Control and support costs³	(50.3)	(34.4)	46%
(Provision)/recovery for credit losses	—	0.6	(100%)
Depreciation and amortisation	(6.0)	(7.3)	(18%)
Other income	0.7	0.1	600%

Adjusted Loss Before Tax ($m)¹	(44.9)	(27.1)	66%

Control and support headcount (No.)²	1,183	1,015	17%

These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such non-IFRS measure to its most directly comparable IFRS measure.
The headcount is the average for the period.
Control and support costs are presented on an unallocated basis.

Summary Financial Position

The Group’s equity base increased during Q1 25 with total equity increasing by $69.3m, 7% to $1,046.2m as a result of strong profitability during the quarter.

Total assets and total liabilities have been steady during the first quarter. Our balance sheet continues to consist of high-quality liquid assets which underpin client activity on our platform. Total assets increased slightly from $24.3bn as at 31 December 2024 to $24.4bn as at 31 March 2025 with growth in Securities balances broadly offset by a reduction in Trade Receivables.

Total liabilities remained steady at $23.3bn; an increase of $0.5bn due to issuance of Debt Securities was offset by a $0.5bn reduction in Trade Payables.

	31 March 2025	31 December 2024
	$m	$m	Change
Cash & Liquid Assets¹	6,200.4	6,213.0	—%
Trade Receivables	7,225.2	7,553.2	(4%)
Reverse Repo Agreements	2,499.4	2,490.4	—%
Securities²	6,749.0	6,459.7	4%
Derivative Instruments	1,132.4	1,163.5	(3%)
Other Assets³	268.6	199.7	35%
Goodwill and Intangibles	279.5	233.0	20%
Total Assets	24,354.5	24,312.5	—%
Trade Payables	9,204.0	9,740.4	(6%)
Repurchase Agreements	2,386.0	2,305.8	3%
Securities⁴	6,450.3	6,656.7	(3%)
Debt Securities	4,072.6	3,604.5	13%
Derivative Instruments	798.4	751.7	6%
Other Liabilities⁵	397.0	276.5	44%
Total Liabilities	23,308.3	23,335.6	—%
Total Equity	1,046.2	976.9	7%

Cash & Liquid Assets are cash and cash equivalents, treasury instruments pledged as collateral, treasury instruments unpledged and fixed income securities.
Securities assets are equity instruments and stock borrowing.
Other Assets are inventory, corporate income tax receivable, deferred tax, investments, right-of-use assets, and property plant and equipment.
Securities liabilities are stock lending and short securities.
Other Liabilities are short term borrowings, deferred tax liability, lease liability, provisions and corporation tax.

Liquidity

	31 March	31 December
	2025	2024
	$m	$m
Total available liquid resources	2,682.4	2,439.8
Liquidity headroom	1,217.4	1,060.0

A prudent approach to capital and liquidity and commitment to maintaining an investment grade credit rating are core principles which underpin the successful delivery of our growth strategy. As at 31 March 2025, the Group held $2,682.4m of total available liquid resources, including the undrawn portion of the RCF (2024: $2,439.8m).

Group liquidity resources consist of cash and high-quality liquid assets that can be quickly converted to meet immediate and short-term obligations. The resources include non-segregated cash, short-term money market funds and unencumbered securities guaranteed by the U.S. Government. The Group also includes any undrawn portion of its committed revolving credit facility (‘RCF’) in its total available liquid resources. The unsecured revolving credit facility of $150m remains undrawn as at 31 March 2025 (31 December 2024: $150m, undrawn). Facilities held by operating subsidiaries, and which are only available to that relevant subsidiary, have been excluded from these figures as they are not available to the entire Group.

Liquidity headroom is based on the Group’s Liquid Asset Threshold Requirement, which is prepared according to the principles of the UK Investment Firms Prudential Regime (IFPR). The requirement includes a liquidity stress impact calculated from a combination of systemic and idiosyncratic risk factors.

Regulatory capital

The Group is subject to consolidated supervision by the UK Financial Conduct Authority and has regulated subsidiaries in jurisdictions both inside and outside of the UK.

The Group is regulated as a MIFIDPRU investment firm under IFPR. The minimum capital requirement as at 31 March 2025 was determined by the Own Funds Threshold Requirement (‘OFTR’) set via an assessment of the Group’s capital adequacy and risk assessment conducted annually.

The Group and its subsidiaries are in compliance with their regulatory requirements and are appropriately capitalised relative to the minimum requirements as set by the relevant competent authority. The Group maintained a capital surplus over its regulatory requirements at all times.

The Group manages its capital structure in order to comply with regulatory requirements, ensuring its capital base is more than adequate to cover the risks inherent in the business and to maximise shareholder value through the strategic deployment of capital to support the Group’s growth and strategic development. The Group performs business model assessment, business and capital forecasting, stress testing and recovery planning at least annually. The following table summarises the Group’s capital position as at 31 March 2025 and 31 December 2024:

	31 March 2025	31 December 2024
	$m	$m
Core equity Tier 1 Capital¹	652.5	623.9
Additional Tier 1 Capital (net of issuance costs)	97.6	97.6
Tier 2 Capital	1.4	1.6
Total Capital resources	751.5	723.1


Own Funds Threshold Requirement²	308.8	308.8
Total Capital ratio³	243%	234%

Total Capital Resources include unaudited results for the financial period.
Own Funds Requirement presented as Own Funds Threshold Requirement based on the latest ICARA process.
The Group’s Total Capital Resources as a percentage of Own Funds Requirement.

At 31 March 2025, the Group had a Total Capital Ratio of 243% (31 December 2024: 234%), representing significant capital headroom to minimum requirements. The increase in the Total Capital Ratio resulted from an increase in total capital resources due to profit (unaudited) in 2025.

Dividend

The Board of Directors approved an interim dividend of $0.15 per share, expected to be paid on 10 June 2025 to shareholders on record as at close of business on 27 May 2025.

Forward Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including expected financial results and dividend payments. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions.

These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation: subdued commodity market activity or pricing levels; the effects of geopolitical events, terrorism and wars, such as the effect of Russia’s military action in Ukraine or the ongoing conflict in the Middle East, on market volatility, global macroeconomic conditions and commodity prices; changes in interest rate levels; the risk of our clients and their related financial institutions defaulting on their obligations to us; regulatory, reputational and financial risks as a result of our international operations; software or systems failure, loss or disruption of data or data security failures; an inability to adequately hedge our positions and limitations on our ability to modify contracts and the contractual protections that may be available to us in OTC derivatives transactions; market volatility, reputational risk and regulatory uncertainty related to commodity markets, equities, fixed income, foreign exchange; the impact of climate change and the transition to a lower carbon economy on supply chains and the size of the market for certain of our energy products; the impact of changes in judgments, estimates and assumptions made by management in the application of our accounting policies on our reported financial condition and results of operations; lack of sufficient financial liquidity; if we fail to comply with applicable law and regulation, we may be subject to enforcement or other action, forced to cease providing certain services or obliged to change the scope or nature of our operations; significant costs, including adverse impacts on our business, financial condition and results of operations, and expenses associated with compliance with relevant regulations; and if we fail to remediate the material weaknesses we identified in our internal control over financial reporting or prevent material weaknesses in the future, the accuracy and timing of our financial statements may be impacted, which could result in material misstatements in our financial statements or failure to meet our reporting obligations and subject us to potential delisting, regulatory investments or civil or criminal sanctions, and other risks discussed under the caption “Risk Factors” in our Annual Report on Form 20-F for the year ended 31 December 2024 filed with the Securities and Exchange Commission (the “SEC”) as updated by our other reports filed with the SEC.

The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.

Appendix 1

Non-IFRS Financial Measures and Key Performance Indicators

This press release contains non-IFRS financial measures, including Adjusted Profit Before Tax, Adjusted Profit Before Tax Margin, Adjusted Basic Earnings per Share, Adjusted Diluted Earnings per Share, Adjusted Profit After Tax Attributable to Common Equity and Adjusted Return on Equity. These non-IFRS financial measures are presented for supplemental informational purposes only and should not be considered a substitute for profit after tax, profit margin, return on equity or any other financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS financial measures used by other companies. The Group changed the labelling of its non-IFRS measures during 2024 to better align to the equivalent IFRS reported metric and enhance transparency and comparability.

Adjusted Profit Before Tax (formerly labelled Adjusted Operating Profit)

We define Adjusted Profit Before Tax as profit after tax adjusted for (i) tax, (ii) goodwill impairment charges, (iii) acquisition costs, (iv) bargain purchase gain, (v) owner fees, (vi) amortisation of acquired brands and customer lists, (vii) activities in relation to shareholders, (viii) employer tax on the vesting of Growth Shares, (ix) IPO preparation costs, (x) fair value of the cash settlement option on the Growth Shares and (xi) public offering of ordinary shares. Items (i) to (xi) are referred to as “Adjusting Items.” Adjusted Profit Before Tax is the primary measure used by our management to evaluate and understand our underlying operations and business trends, forecast future results and determine future capital investment allocations. Adjusted Profit Before Tax is the measure used by our executive board to assess the financial performance of our business in relation to our trading performance. The most directly comparable IFRS Accounting Standards measure is profit after tax. We believe Adjusted Profit Before Tax is a useful measure as it allows management to monitor our ongoing core operations and provides useful information to investors and analysts regarding the net results of the business. The core operations represent the primary trading operations of the business.

Adjusted Profit Before Tax Margin (formerly labelled Adjusted Operating Profit Margin)

We define Adjusted Profit Before Tax Margin as Adjusted Profit Before Tax (as defined above) divided by revenue. We believe that Adjusted Profit Before Tax Margin is a useful measure as it allows management to assess the profitability of our business in relation to revenue. The most directly comparable IFRS Accounting Standards measure is profit margin, which is Profit after Tax divided by revenue.

Adjusted Profit After Tax Attributable to Common Equity (formerly labelled Adjusted Operating Profit after Tax Attributable to Common Equity)

We define Adjusted Profit After Tax Attributable to Common Equity as profit after tax adjusted for the items outlined in the Adjusted Profit Before Tax paragraph above. Additionally, Adjusted Profit After Tax Attributable to Common Equity is also adjusted for (i) tax and the tax effect of the Adjusting Items to calculate Adjusted Profit Before Tax and (ii) profit attributable to Additional Tier 1 (“AT1”) note holders, net of tax, which is the coupons on the AT1 issuance and accounted for as dividends, adjusted for the tax benefit of the coupons. We define Common Equity as being the equity belonging to the holders of the Group’s share capital. We believe Adjusted Profit After Tax Attributable to Common Equity is a useful measure as it allows management to assess the profitability of the equity belonging to the holders of the Group’s share capital. The most directly comparable IFRS Accounting Standards measure is profit after tax.

Adjusted Return on Equity (formerly labelled Return on Adjusted Operating Profit after Tax Attributable to Common Equity)

We define the Adjusted Return on Equity as the Adjusted Profit After Tax Attributable to Common Equity (as defined above) divided by the average Common Equity for the period. Common Equity is defined as being the equity belonging to the holders of the Group’s share capital. Common Equity is calculated as the average balance of total equity minus additional Tier 1 capital. For the period ended 31 March 2025 and 2024, Common Equity is calculated as the average balance of total equity minus additional Tier 1 capital as at 31 December of the prior year and 31 March of the current year. For the three months ended 31 March 2025 and 2024, Adjusted Return on Equity is calculated for comparison purposes on an annualised basis as Adjusted Profit After Tax Attributable to Common Equity for the period multiplied by four and then divided by average Common Equity for the period. It is presented on an annualised basis for comparison purposes.

We believe Adjusted Return on Equity is a useful measure as it allows management to assess the return on the equity belonging to the holders of the Group’s share capital. The most directly comparable IFRS Accounting Standards measure for Adjusted Return on Equity is Return on Equity, which is calculated as profit after tax for the period divided by average equity. Average Equity for the period ended 31 March 2025 and 2024 is calculated as the average of total equity at 31 December of the prior year and 31 March of the current year. For the three months ended 31 March 2025 and 2024, Return on Equity is calculated for comparison purposes on an annualised basis as Profit After Tax for the period multiplied by four and then divided by Average Equity for the period. It is presented on an annualised basis for comparison purposes.

Adjusted Basic Earnings per Share and Adjusted Diluted Earnings per Share

Adjusted Basic Earnings per Share is defined as the Adjusted Profit After Tax Attributable to Common Equity (as defined above) for the period divided by weighted average number of ordinary shares for the period. We believe Adjusted Basic Earnings per Share is a useful measure as it allows management to assess the profitability of our business per share. The most directly comparable IFRS Accounting Standards metric is basic earnings per share. This metric has been designed to highlight the Adjusted Profit After Tax Attributable to Common Equity over the available share capital of the Group. Adjusted Diluted Earnings per Share is defined as the Adjusted Profit After Tax Attributable to Common Equity for the period divided by the diluted weighted average shares for the period. We believe Adjusted Diluted Earnings per Share is a useful measure as it allows management to assess the profitability of our business per share on a diluted basis. Dilution is calculated in the same way as it has been for diluted earnings per share. The most directly comparable IFRS Accounting Standards metric is diluted earnings per share.

We believe that these non-IFRS financial measures provide useful information to both management and investors by excluding certain items that management believes are not indicative of our ongoing operations. Our management uses these non-IFRS financial measures to evaluate our business strategies and to facilitate operating performance comparisons from period to period. We believe that these non-IFRS financial measures provide useful information to investors because they improve the comparability of our financial results between periods and provide for greater transparency of key measures used to evaluate our performance. In addition these non-IFRS financial measures are frequently used by securities analysts, investors and other interested parties in their evaluation of companies comparable to us, many of which present related performance measures when reporting their results.

These non-IFRS financial measures are used by different companies for differing purposes and are often calculated in different ways that reflect the circumstances of those companies. In addition, certain judgments and estimates are inherent in our process to calculate such non-IFRS financial measures. You should exercise caution in comparing these non-IFRS financial measures as reported by other companies.

These non-IFRS financial measures have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under IFRS Accounting Standards. Some of these limitations are:

they do not reflect costs incurred in relation to the acquisitions that we have undertaken;
they do not reflect impairment of goodwill;
other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures; and
the adjustments made in calculating these non-IFRS financial measures are those that management considers to be not representative of our core operations and, therefore, are subjective in nature.

Accordingly, prospective investors should not place undue reliance on these non-IFRS financial measures.

We also use key performance indicators (“KPIs”) such as Average Balances, Trades Executed, and Contracts Cleared to assess the performance of our business and believe that these KPIs provide useful information to both management and investors by showing the growth of our business across the periods presented.

Our management uses these KPIs to evaluate our business strategies and to facilitate operating performance comparisons from period to period. We define certain terms used in this release as follows:

“FTE” means the number of our full-time equivalents as of the end of a given period, which includes permanent employees and contractors.

“Average FTE” means the average number of our full-time equivalents over the period, including permanent employees and contractors.

“Average Balances” means the average of the daily holdings in exchanges, banks and other investments over the period. Previously, average balances were calculated as the average month end amount of segregated and non-segregated client balances that generated interest income over a given period.

“Trades Executed” means the total number of trades executed on our platform in a given year.

“Total Capital Ratio” means our total capital resources in a given period divided by the capital requirement for such period under the IFPR.

“Contracts Cleared” means the total number of contracts cleared in a given period.

“Market Volumes” are calculated as follows:

All volumes traded on Marex key exchanges (CBOT, CME, Eurex, Euronext, ICE, LME, NYMEX COMEX, SGX)
Energy volumes on CBOT, Eurex, ICE, NYMEX, SGX
Financial securities (corporate bonds, equities, FX, repo, volatility) on CBOE, CBOT, CME, Eurex, Euronext, ICE, SGX
Metals, agriculture and energy volumes on CBOT, CME, Eurex, Euronext, ICE, LME, NYMEX COMEX, SGX

Reconciliation of Non-IFRS Financial Measures and Key Performance Indicators:

	3 months ended 31 March 2025	3 months ended 31 March 2024

	$m	$m
Profit After Tax	72.5	43.6
Taxation charge	25.5	15.3
Profit Before Tax	98.0	58.9
Goodwill impairment charge¹	—	—
Bargain purchase gain (provisional accounting)²	(3.4)	—
Acquisition costs³	—	0.2
Amortisation of acquired brands and customer lists⁴	1.3	0.8
Activities relating to shareholders⁵	—	2.4
Employer tax on vesting of the growth shares⁶	—	—
Owner fees⁷	0.4	1.7
IPO preparation costs⁸	—	3.7
Fair value of the cash settlement option on the growth shares⁹	—	—
Public offering of ordinary shares¹⁰	—	—
Adjusted Profit Before Tax	96.3	67.7
Tax and the tax effect on the Adjusting Items¹¹	(24.8)	(15.5)
Profit attributable to AT1 note holders¹²	(3.3)	(3.3)
Adjusted Profit After Tax Attributable to Common Equity	68.2	48.9

Profit after Tax Margin	16%	12%
Adjusted Profit Before Tax Margin¹³	21%	19%

Basic Earnings per Share ($)	0.98	0.60
Diluted Earnings per Share ($)	0.92	0.56

Adjusted Basic Earnings per Share ($)¹⁴	0.97	0.74
Adjusted Diluted Earnings per Share ($)¹⁴	0.91	0.69

Weighted average number of shares¹⁴	70,541,771	65,683,374
Period end number of shares¹⁴	71,231,706	68,375,690

Common Equity¹⁵	913.7	676.0
Return on Equity	29%	23%
Adjusted Return on Equity (%)	30%	29%

No goodwill impairment has been booked for either period.
A bargain purchase gain was recognised as a result of the Group’s acquisition of Darton Group Limited (“Darton”) . Provisional accounting under IFRS 3 has been applied as at Q1 ’25.
Acquisition costs are costs, such as legal fees incurred in relation to the business acquisitions of Cowen’s prime services and Outsourced Trading business.
This represents the amortisation charge for the period of acquired brands and customers lists.
Activities in relation to shareholders primarily consist of dividend-like contributions made to participants within certain of our share-based payments schemes.
Employer tax on vesting of the growth shares represents the Group’s tax charge arising from the vesting of the growth shares.
Owner fees relate to management services fees paid to parties associated with the ultimate controlling party based on a percentage of our EBITDA in each year, presented in the income statement within other expenses. This agreement ended once the Group became listed, however as the calculation in based on audited full year EBITDA, the payment in Q1 25 represents the final adjustments to the fees owed.
IPO preparation costs related to consulting, legal and audit fees, presented in the income statement within other expenses.
Fair value of the cash settlement option on the growth shares represents the fair value liability of the growth shares at $2.3m. Subsequent to the initial public offering when the holders of the growth shares elected to settle the awards in ordinary shares, the liability was derecognised.
Costs relating to the public offerings of ordinary shares by certain selling shareholders.
Tax and the tax effect on the Adjusting Items represents the tax for the period and the tax effect of the other Adjusting Items removed from Profit After Tax to calculate Adjusted Profit Before Tax. The tax effect of the other Adjusting Items was calculated at the Group’s effective tax rate for the respective period.
Profit attributable to AT1 note holders are the coupons on the AT1 issuance, which are accounted for as dividends.
Adjusted Profit Before Tax Margin is calculated by dividing Adjusted Profit Before Tax (as defined above) by revenue for the period.
The weighted average numbers of diluted shares used in the calculation for the three months ended 31 March 2025 and 2024 were 74,934,788 and 70,383,309 respectively. Weighted average number of shares have been restated as applicable for the Group’s reverse share split. As at 31 March 2025, the dilution impact was 4,393,017 shares (31 March 2024: 4,699,934 shares).
Common Equity is calculated as the average balance of total equity minus additional Tier 1 capital. For the three months ended 31 March 2025 and 2024, Adjusted Return on Equity is calculated as the average balance of total equity minus additional Tier 1 capital, as at 31 December of the prior year and 31 March of the current year.

Appendix 2 – Supplementary Financial Information

Revenue

The following tables present the Group’s segmental revenue for the periods indicated:

3 months ended 31 March 2025	Clearing	Agency and Execution	Market Making	Hedging and Investment Solutions	Corporate	Total
	$m	$m	$m	$m	$m	$m

Net commission income	67.8	182.9	—	—	—	250.7
Net trading income	3.0	49.9	54.9	51.3	—	159.1
Net interest income/(expense)	48.4	5.6	(5.0)	(6.3)	10.7	53.4
Net physical commodities income	—	1.1	3.0	—	—	4.1
Revenue	119.2	239.5	52.9	45.0	10.7	467.3

3 months ended 31 March 2024	Clearing	Agency and Execution	Market Making	Hedging and Investment Solutions	Corporate	Total
	$m	$m	$m	$m	$m	$m

Net commission income/(expense)	69.5	150.5	(1.1)	—	—	218.9
Net trading income	1.0	9.1	44.2	51.9	—	106.2
Net interest income/(expense)	30.2	8.0	(5.9)	(10.6)	13.9	35.6
Net physical commodities income	—	0.5	4.6	—	—	5.1
Revenue	100.7	168.1	41.8	41.3	13.9	365.8

Consolidated Income Statement

For the Three Months Ended 31 March 2025

	31 March 2025	31 March 2024
	$m	$m
Commission and fee income	503.7	400.6
Commission and fee expense	(253.0)	(181.7)
Net commission income	250.7	218.9
Net trading income	159.1	106.2
Interest income	198.8	163.2
Interest expense	(145.4)	(127.6)
Net interest income	53.4	35.6
Net physical commodities income	4.1	5.1
Revenue	467.3	365.8

Expenses:
Compensation and benefits	(291.7)	(229.9)
Depreciation and amortisation	(7.9)	(7.8)
Other expenses	(73.8)	(69.6)
Provision for credit losses	—	0.3
Bargain purchase gain on acquisition	3.4	—
Other income	0.7	0.1
Profit before tax	98.0	58.9
Tax	(25.5)	(15.3)
Profit after tax	72.5	43.6

Consolidated Statement of Financial Position

As at 31 March 2025

	31 March	31 December
	2025	2024
	$m	$m
Assets
Non-current assets
Goodwill	225.0	176.5
Intangible assets	54.5	56.5
Property, plant and equipment	22.8	20.8
Right-of-use asset	64.0	59.9
Investments	25.7	24.0
Deferred tax	29.5	46.7
Treasury instruments (unpledged)	3.8	53.5
Treasury instruments (pledged as collateral)	153.9	46.1
Total non-current assets	579.2	484.0

Current assets
Corporate income tax receivable	22.5	12.5
Trade and other receivables	7,225.2	7,553.2
Inventory	104.1	35.8
Equity instruments (unpledged)	210.2	231.4
Equity instruments (pledged as collateral)	4,627.2	4,446.6
Derivative instruments	1,132.4	1,163.5
Stock borrowing	1,911.6	1,781.7
Treasury instruments (unpledged)	478.8	556.2
Treasury instruments (pledged as collateral)	2,827.5	2,912.9
Fixed income securities (unpledged)	129.7	87.7
Reverse repurchase agreements	2,499.4	2,490.4
Cash and cash equivalents	2,606.7	2,556.6
Total current assets	23,775.3	23,828.5
Total assets	24,354.5	24,312.5

	31 March	31 December
	2025	2024
	$m	$m
Liabilities
Current liabilities
Repurchase agreements	2,386.0	2,305.8
Trade and other payables	9,204.0	9,740.4
Stock lending	4,481.3	4,952.1
Short securities	1,969.0	1,704.6
Short-term borrowings	271.1	152.0
Lease liability	9.7	10.5
Derivative instruments	798.4	751.7
Corporation tax	39.0	41.9
Debt securities	2,609.9	2,119.6
Provisions	0.7	0.6
Total current liabilities	21,769.1	21,779.2
Non-current liabilities
Lease liability	73.4	67.0
Debt securities	1,462.7	1,484.9
Deferred tax liability	3.1	4.5
Total non-current liabilities	1,539.2	1,556.4
Total liabilities	23,308.3	23,335.6
Total net assets	1,046.2	976.9

Equity
Share capital	0.1	0.1
Share premium	220.0	202.6
Additional Tier 1 capital (AT1)	97.6	97.6
Retained earnings	775.3	722.4
Own shares	(48.9)	(23.2)
Other reserves	2.1	(22.6)
Total equity	1,046.2	976.9

The MIL Network –

May 15, 2025

MIL-OSI United Nations: 15 May 2025 Departmental update 2025 edition of global survey to track antimicrobial resistance launches

Source: World Health Organisation

On 15 April 2025, the ninth round of the Tracking Antimicrobial Resistance (AMR) Country Self-assessment Survey (TrACSS) began, for completion by June 2025. TrACSS is a key component of the global AMR monitoring and evaluation framework. Since its first iteration in 2017, TrACSS has enabled countries to assess their progress in implementing multisectoral AMR national action plans (NAPs) annually.

The Quadripartite organizations – the Food and Agriculture Organization of the United Nations (FAO), the United Nations Environment Programme (UNEP), the World Health Organization (WHO) and the World Organisation for Animal Health (WOAH) – jointly develop, launch, manage and analyze the results and WHO systems are used to administer the survey. The survey is available in all six official UN languages, and it continues to evolve in scope and depth each year.

Being multisectoral, TrACSS covers human health, animal health, food, agriculture and environment sectors in countries. Relevant national authorities and technical focal points from the different sectors complete it online. Throughout the survey process, the Quadripartite organizations provide support at the national, regional and global levels — ensuring that countries and focal points can accurately complete the survey and act on its findings.

Eight rounds of the survey have been completed since 2017, and the results are available at TrACSS Global Database, an interactive platform that visualizes progress and trends over time, compares performance across countries, regions and income levels, and generates country profiles and maps.

In 2024, a record 186 countries (96%) responded to the survey. Member States reiterated their support to TrACSS in the political declaration of the United Nations General Assembly High-Level Meeting on AMR and set a target of at least 95% submission rate to the survey by 2030.

National AMR multisectoral coordination mechanisms can use data from TrACSS to identify gaps and priorities for follow-up actions, supporting decision-making to strengthen the implementation of AMR NAPs. The data is also used to assess progress of the Global Action Plan on Antimicrobial Resistance, adopted in 2015 and that will be revised by 2026.

Countries have been invited to participate through a dedicated platform. Data from the 2025 cycle of TRACSS will be published later this year. For any questions, please contact tracss@who.int. The continued commitment of countries to participate in and use the findings from TrACSS remains critical for monitoring and advancing both national and global responses to AMR.

About the Quadripartite organizations:

Food and Agriculture Organization of the United Nations (FAO)

FAO is a specialized agency of the United Nations that leads international efforts to defeat hunger. Its goal is to achieve food security for all and make sure that people have regular access to enough high-quality food to lead active, healthy lives. With 195 members – 194 countries and the European Union, FAO works in over 130 countries worldwide. www.fao.org

UN Environment Programme (UNEP)

UNEP is the leading global voice on the environment. It provides leadership and encourages partnership in caring for the environment by inspiring, informing and enabling nations and peoples to improve their quality of life without compromising that of future generations. For more information, please contact: UN Environment Programme www.unep.org

World Health Organization (WHO)

Dedicated to the well-being of all people and guided by science, the World Health Organization leads and champions global efforts to give everyone, everywhere an equal chance at a safe and healthy life. We are the UN agency for health that connects nations, partners and people on the front lines in 150+ locations – leading the world’s response to health emergencies, preventing disease, addressing the root causes of health issues and expanding access to medicines and health care. Our mission is to promote health, keep the world safe and serve the vulnerable. www.who.int

World Organisation for Animal Health:

WOAH is a global organisation, working to ensure the health of animals across the world. Since 1924, we have focused on the complexities of animal health. We disseminate information on animal diseases and use science-based strategies to limit their potentially negative impact on society. www.woah.org

MIL OSI United Nations News –

May 15, 2025
MIL-OSI United Kingdom: Emergency fund injects over £3m into the city’s third sector

Source: Scotland – City of Edinburgh

Charities losing funding from the Edinburgh Integration Joint Board (EIJB) are to receive urgent support from the City of Edinburgh Council.

One-off funding of £2.037m will be provided to 46 organisations and projects across Edinburgh which are working to prevent poverty and support vulnerable residents.

An additional £1m will help six third sector advice providers to support residents to maximise their income through accessing welfare benefits, reducing everyday living costs including debt management and improving access to work. A grant has also been provided to support the continued development of the Edinburgh Advice Network.

The decision by the Policy and Sustainability Committee this week (Monday 12 May) will allow funds to be released to prevent the closure of a number of organisations and avert the redundancies of many employees.

Decisions on how to allocate an outstanding £423,400 will be made when Councillors meet again later this month (Tuesday 27 May).

The emergency package of support is provided ahead of a long-term review of the relationship between the Edinburgh Partnership, public sector and third sector in Edinburgh, with the aim of improving funding certainty in future years.

As part of this review, the Edinburgh Partnership is asking voluntary organisations, social enterprises and charities to participate in an online consultation. Workshops will also take place in the coming weeks.

Council Leader and Chair of the Edinburgh Partnership, Jane Meagher, said:

“The third sector provides vital support to our local communities, and we need to provide stability to projects which have been put at risk of closure. Our funding will quickly and directly prevent many charities from redundancies and from reducing the very important services they provide.

“While I’m pleased that we’ve reached a decision to prioritise this work – and to make sure we protect more people from entering poverty – we cannot become complacent. We need longer-term change so that organisations like these, and the many residents who rely on them, are at less risk and have greater stability.

“We want to hear about how we can make helping vulnerable people simpler. Please take part in the consultation we’ve recently launched, as the Edinburgh Partnership seeks views on strengthening our city’s third sector.”

In a deputation to Policy and Sustainability Committee, Bruce Crawford, CEO of EVOC and speaking on behalf of the Third Sector Reference Group said:

“The decisions made by Councillors to support these third sector organisations shows a real understanding of the role that the third sector play in communities across Edinburgh.

“The impact that these Resilience Fund payments will make cannot be underestimated in the way that they will support some of the most vulnerable people in our city. These grants will provide stability to the organisations in receipt of them and allow them to continue to serve their local communities. Longer term solutions need to be developed, and we are prepared to work with the council in planning for the future, beyond the current financial year.”

Visit the Council’s website for more information about the Third Sector Support Review, the one-off Third Sector Resilience Fund and to access cost-of-living support.

Full list of organisations and projects confirmed to receive urgent funding from the Third Sector Transitional Fund:

1. ACE IT Scotland
2. Art in Healthcare
3. B Healthy Together
4. Bridgend Farmhouse
5. Calton Welfare Services
6. Care for Carers
7. Caring in Craigmillar
8. Community Renewal Trust
9. Cruse Bereavement Care Scotland
10. Drake Music Scotland
11. Edinburgh & Lothians Greenspace Trust
12. Edinburgh Community Food
13. Edinburgh Community Health Forum
14. Edinburgh Headway Group
15. Edinburgh Rape Crisis Centre
16. Eric Liddell Community
17. Feniks
18. Fresh Start
19. Health All Round
20. Home-Start Edinburgh West and South West (HSEW)
21. LGBT Health and Wellbeing
22. Libertus Services
23. MECOPP
24. Murrayfield Dementia Project
25. Pilmeny Development Project
26. Pilton Equalities Project – Mental Health
27. Pilton Equalities Project – Day Care
28. Portobello Monday Centre
29. Portobello Older People’s Project
30. Positive Help
31. Queensferry Churches Care in the Community
32. Rowan Alba Limited
33. Scottish Huntington’s Association
34. Sikh Sanjog
35. South Edinburgh Amenities Group (SEAG)
36. The Broomhouse Centre (The Beacon Club)
37. Vintage Vibes Consortium
38. The Dove Centre
39. The Health Agency
40. The Living Memory Association
41. The Open Door
42. The Ripple Project
43. The Welcoming Association
44. Venture Scotland
45. VOCAL
46. Waverley Care.

MIL OSI United Kingdom –

May 15, 2025
MIL-OSI Europe: Ireland’s Competitiveness Confirmed – Minister Peter Burke
Source: Government of Ireland – Department of Jobs Enterprise and Innovation

15th May 2025

The Minister for Enterprise, Trade and Employment, Peter Burke, has welcomed the publication of Re-estimating Ireland’s International Competitiveness Performance, the latest bulletin by the National Competitiveness and Productivity Council (NCPC).

Minister Burke said:

“This analysis marks a very welcome contribution by the Council and confirms that the Irish economy is internationally competitive. However, we cannot become complacent, and there remains work to do in many areas. The Council’s findings will make a valuable contribution in the preparation of the Action Plan on Competitiveness and Productivity.”

“Despite our strong international performance, we are also aware that there are challenges, and it is important that we do not take our current strengths for granted. This is reflected in the decision taken by Cabinet to expedite delivery of the Action Plan, which will play a key role in addressing these challenges and safeguarding our competitiveness performance into the future.”

This Bulletin explores how Ireland’s performance in the IMD World Competitiveness Ranking 2024 is affected when selected indicators are rescaled using Modified Gross National Income (GNI*) in place of Gross Domestic Product (GDP).

The findings show that Ireland’s competitiveness performance remains strong with this adjustment. In fact, it rises by one position in the ranking, with improvements in three of the four pillars. The analysis explores how Ireland’s competitiveness profile changes when key metrics are recalibrated to better reflect the scale of the domestic economy.

The IMD World Competitiveness Ranking is a widely used international benchmark, assessing over 60 economies across four key pillars and 20 sub-pillars, and based on 250 individual measures. In the 2024 IMD results, Ireland was ranked 4th overall. The analysis included in this Bulletin involves replicating the IMD methodology from the ground up, in order to facilitate the substitution of GNI* for GDP for Ireland.

Key findings from the Bulletin include:
- Ireland’s competitiveness ranking improves by one place when GDP-based indicators are adjusted using GNI*, with notable gains in Economic Performance (up seven places) and Infrastructure (up two places). Business Efficiency is unchanged, while Government Efficiency declines slightly, reflecting a more constrained fiscal profile when public finance metrics are expressed over a smaller income base.
- The analysis underscores the importance of context-sensitive benchmarking, especially when using international indices to inform national policy. This Bulletin highlights the need to interpret international indices critically, understanding their underlying assumptions, and where necessary, supplementing them with alternative analyses that better capture national circumstances.
NOTES TO EDITORS

The National Competitiveness and Productivity Council (NCPC) was established in 1997 (then the National Competitiveness Council) to report to the Taoiseach, through the Minister for Enterprise, Trade and Employment, on key competitiveness issues facing the Irish economy. In 2019, the NCPC was designated as Ireland’s National Productivity Board.

As part of its work, the NCPC makes recommendations on policy actions required to enhance Ireland’s competitive position. The NCPC publishes three main research outputs:
- The Competitiveness Scorecard benchmarks Ireland against international competitors on areas of competitiveness and productivity. This is published every three years (and was last published in 2024).
- The Competitiveness Challenge is an annual publication in which the NCPC makes recommendations for Government on key challenges to Ireland’s international competitiveness.
- NCPC Bulletins are short and focused research notes, examining specific topics within the sphere of competitiveness and productivity. The NCPC releases multiple Bulletins each year. These short pieces often feed into the NCPC’s main Challenges report.
The members of the Council are:

Dr. Frances Ruane Chair, National Competitiveness and Productivity Council

Dr. Laura Bambrick Head of Social Policy & Employment Affairs, ICTU

Edel Clancy Group Director of Corporate Affairs, Musgrave Group

Kevin Sherry Interim Chief Executive, Enterprise Ireland

Ciaran Conlon Director of Public Policy, Microsoft Ireland

Luiz de Mello Director of Country Studies, Economics Department, OECD

Maeve Dineen Chair of Ireland’s Financial Services and Pensions Ombudsman

Brian McHugh Chairperson, Competition and Consumer Protection Commission

Gary Tobin Assistant Secretary, Department of Enterprise, Trade and Employment

Michael Lohan Chief Executive, IDA Ireland

Liam Madden Independent Consultant, Semiconductor Industry

Neil McDonnell Chief Executive, ISME

Bernadette McGahon Director of Innovation Services, Industry Research & Development Group

Danny McCoy Chief Executive, IBEC

Michael Taft Research Officer, SIPTU

Representatives from the Departments of An Taoiseach; Agriculture, Food and the Marine; Environment, Climate and Communications; Further and Higher Education, Research, Innovation and Science; Social Protection; Finance; Housing, Local Government and Heritage; Justice; Public Expenditure and Reform; Tourism, Culture, Arts, Gaeltacht, Sport and Media, Children, Equality, Disability, Integration and Youth, and Transport attend Council meetings in an advisory capacity.

Research, Analysis and Secretariat from the Department of Enterprise, Trade and Employment:

Dr. Dermot Coates

Rory Mulholland

Dr. Keith Fitzgerald

Pádraig O’Sullivan

Erika Valiukaite

Jordan O’Donoghue

Patrick Connolly

ENDS

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MIL OSI Europe News –
May 15, 2025
MIL-OSI Global: ‘I will not eat the bugs’: examining a right-wing narrative about scarcity and insect consumption

Source: The Conversation – France – By D. D. Moore, Visiting Fellow, Max Weber Programme for Postdoctoral Studies, European University Institute

Noor Bin Ladin, a right-wing influencer, stridently declares “I don’t want to eat the bugs” on a talk show hosted by a former adviser to US President Donald Trump. Laurent Duplomb, a senator from the conservative Les Républicains party in France, informs his colleagues that the French would be eating “insects without their knowledge”. Bartosz Kownacki, an MP from the nationalist Law and Justice party in Poland, suggests that opposition politicians write “instead of chicken, eat a worm” on their election materials, arguing that “this is their real election programme”. Thierry Baudet, a leader of the far-right Forum for Democracy party in the Netherlands, shouts “No way! No way!” while holding up a bag of mealworms in front of protesting farmers. Politicians in Lega, a far-right party in Italy, warn that the European Union is planning to “impose” the eating of insects on citizens in the bloc – and a Lega electoral campaign includes a billboard-sized image of a person popping an enormous cricket into their mouth, next to the caption, “Let’s change Europe before it changes us.”

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During the 2020s, commentators and politicians across the right-wing political spectrum have amplified an Internet-based conspiracy theory that elite forces are conspiring to make us all eat insects. Often rallying under the slogan “I will not eat the bugs,” right-wing and far-right figures have come out in force against human consumption of insects. Many of these people assert that the EU is planning to force bug-eating on the general public while devastating traditional agriculture and meat consumption under the guise of the European Green Deal, the bloc’s plan to eliminate greenhouse gases by 2050 and decouple economic growth from resource use. Opposing insect-eating has become a symbolic way to protest EU environmental policies, express scepticism of and hostility toward Brussels, and villainize political opponents. Closer inspection reveals that the conspiracy theory underlying such opposition has much older and more sinister resonances.

“Spreading disinformation”

Insect eating (entomophagy) remains a minor practice in Europe and North America, although alternative protein sources do play a role in the EU’s move toward a sustainable future. So far, the European Commission has approved frozen, dried and powdered forms of Tenebrio molitor (yellow mealworm larva), Locusta migratoria (migratory locust), Acheta domesticus (house cricket) and Alphitobius diaperinus (the lesser mealworm larva) for human consumption. But the market for insect powder in foods like bread, pasta and sports bars remains small. Although insects are common food in many parts of the world, consumers in the West, where insects are more commonly used to provide protein in animal feed, are reluctant to eat bugs for historical reasons based in ideas of uncleanliness and primitiveness. So, based on the facts, there seems to be little to no reason for statements such as those made by Rumen Petkov of Bulgaria’s ABV party, who said that EU approval of insect consumption is a “crime against Europe” and that the European Commission is “prepared to kill our European children”.

What led to the rapid spread of this conspiracy theory? Noor Bin Ladin’s remarks give us a clue. During her talk show appearance, Bin Ladin described her words as a message for Klaus Schwab to take to his “masters”. Schwab is the founder and executive chair of the World Economic Forum. Early in the Covid pandemic, Schwab and the WEF produced a set of proposals titled “the Great Reset”, which called for an overhaul of various world systems to produce a stakeholder-driven capitalism that would lead to a more socially and environmentally responsible future. Conspiracists seized on and branded “the Great Reset” as a new iteration of a conspiracy theory known as the New World Order – an imagined global governance system meant to control the lives of everyone. Both the Great Reset and the New World Order lead back to much older and broader antisemitic conspiracy theories that hold that elite Jewish financiers run the world with their hands on invisible levers of power. All these narratives tap into feelings of futility and hopelessness about the future.

US right-wing media personality Tucker Carlson called a 2023 episode of his show, which included a heavy focus on Schwab and the WEF, “Let Them Eat Bugs”, a title that gestures at the remark allegedly made by Marie Antoinette, the last queen of France, when she heard about people suffering from a lack of bread before the French Revolution: “Let them eat cake”. With this title, Carlson is aiming to emphasize that the elite are hopelessly out of touch and have contempt for farmers and the average man, whom they want to force to eat bugs. Like the French bedbug scare in late 2023, right-wing alarm around insect-eating has connections to the spread of anti-EU Russian propaganda. Russian news outlets have suggested that Europeans are so poor and food deprived as a result of sanctions connected to the war in Ukraine that they have been reduced to eating insects. As the European Digital Media Observatory (EDMO) writes, insects are “delicious treats for actors with interest in spreading disinformation against the EU”.

Symbols for dehumanization

The desire to stir up fear about the minor level of European and US insect consumption is not based on the risk of rapid growth in the insect market, but on the power to arouse disgust and fear itself. Insects have long been used as symbols to stir revulsion and paint opponents as objects of physical and moral disgust. During times of political extremism, insects have featured repeatedly in efforts to distance, devalue and dehumanize minorities. Armenians were called locusts during the Armenian genocide, and Jews were compared to lice in Nazi Germany. In the period prior to the ethnic genocide of Tutsis in Rwanda, some Hutus repeatedly called Tutsis “cockroaches” on public radio. The right wing’s current fetishization of insect-eating serves as a narrative to cast political opponents as morally repulsive, even if not labelling them as bugs themselves.

For some figures on the right, insect consumption symbolizes the worst of Eurocentric liberalism – seen as a movement so void of a positive political vision that the only possible future it offers is one of impoverishment and bug-eating. They point to an elite who they claim will go on feasting on meat while forcing mealworms and fly larvae on the rest of us. It’s a potent image. At a moment in which people on the right and the left seem unable to imagine a better political future together, it becomes easier to demonize climate policy-minded leaders as a group of disgusting hypocrites plotting to create a society of contrived scarcity where the general population is reduced to eating bugs.

Meanwhile, since 2015, scientists have been releasing papers warning that the global food system shows risks of genuine structural problems. In a future of environmental disruption, trade wars and real risks of food shortages and famine, we may need all the calories we can get – insect-based or otherwise.

À lire aussi :
‘A healthy earth may be ugly’: How literary art can help us value insect conservation

Out of curiosity, I bought a bag of cricket flour last fall. The crickets resulted in a delicious, nutty-flavoured cecina, well… crickcina. So far, none of my friends will try it. They’re missing out.

D. D. Moore ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

– ref. ‘I will not eat the bugs’: examining a right-wing narrative about scarcity and insect consumption – https://theconversation.com/i-will-not-eat-the-bugs-examining-a-right-wing-narrative-about-scarcity-and-insect-consumption-254112

MIL OSI – Global Reports –

May 15, 2025
MIL-OSI New Zealand: Education – Growing Future Farmers and Skills Group, Ignite, Partner to Provide Diversified Career Pathways for Young Farmers

Source: Skills Group

Skills Group – Ignite and Growing Future Farmers (GFF) have developed a new training programme to meet the learning and development needs of young sheep and beef farmers.

Pending NZQA approval, the first cohort is set to begin as early as July 2025, with the Level 4 programme offering a next-step pathway that builds on the success of GFF’s hands-on model and NZQA Level 2 and 3 qualifications.

It has been co-designed and developed with extensive industry consultation to give young farmers the opportunity to deepen their skills while continuing to work on-farm, helping to strengthen the pipeline of talent and capability within the sector.

GFF CEO Wendy Paul says the new programme is a natural extension of GFF’s founding purpose.

“From day one, GFF has been about creating real career opportunities for young people in farming. This new programme allows us to extend that journey by offering progression while keeping the real-world, on-farm learning that’s central to our model.”

Skills Group – Ignite Director of Vocational Training and Higher Education Mark Worsop says the innovative blended learning programme, combining provider-based and work-based learning is designed to equip young farmers with the necessary skills to take on leadership roles in the agricultural industry.

“With this new programme, graduates will be able to take on increased responsibility says Mark.

The GFF programme is a two-year initiative where students gain practical, hands-on experience working directly on farms. Students, typically aged between 16 and 21 years old, are matched with experienced farm trainers.

“The new Level 4 programme will ensure that graduates are prepared to meet the demands of an ever-evolving agricultural sector by developing management and leadership skills. The programme offers an exciting opportunity for GFF Level 2 and Level 3 graduates to further develop their skills and transition into beef and sheep farm leadership roles,” Mark says.

Graduates of this qualification will be equipped to do a range of things, from coordinating agribusiness activities using appropriate technology to benchmarking a farm’s physical performance and implementing and monitoring a farm environmental plan.

The Level 4 programme is delivered through a blended learning approach. Trainees will benefit from online tuition and academic support provided by expert tutors from Skills Group – Ignite. In addition, they will receive the same level of high-quality pastoral care and in-person support that GFF currently provides.

“This holistic approach ensures that trainees are well-supported academically and personally, as they progress through their studies,” Mark says.

“The fully workplace integrated learning approach benefits both trainees and employers, ensuring that the learning experience is meaningful and tailored to the realities of farm operations,” Mark says.

“The GFF team are passionate about the quality of training and support available to future farm trainees and students. They’ve developed a unique delivery model that not only meets the training and support needs of learners but is also built upon employer partnerships with a real commitment to the learner journey and their professional development,” Mark says.

GFF CEO Wendy Paul says the partnership with Skills Group- Ignite reflects a shared vision and a commitment to long-term impact.

“We’re really pleased to be partnering in a way that aligns so strongly with our strategic direction and purpose. This collaboration brings new perspectives, diverse capabilities, and helps strengthen the GFF model — ensuring it remains viable, high quality, and centred on student success. At its core, it’s about delivering life-changing experiences for the next generation of farmers and securing a strong future for the sector,” says Wendy.

About Skills Group – Ignite

Skills Group is New Zealand’s largest private training establishment, delivering hands-on, real-world education to over 18,000 learners across New Zealand and the world. From school leavers to CEOs, Skills Group supports lifelong learning through practical, industry-aligned training programmes that help people grow their careers, businesses, and communities. For more information about Skills Group – Ignite go to https://skills-ignite.org/

About Growing Future Farmers

GFF is a charity that provides the opportunity for motivated young people to enter the sheep, beef and deer industry with the confidence of supported training and development, and that provides an industry respected, employer led career pathway that will enable motivated young people to progress in their career.

https://www.growingfuturefarmers.co.nz/about

GFF provides NZQA approved on farm programmes underpinned by proven methods and are future focused.

MIL OSI New Zealand News –

May 15, 2025
MIL-OSI New Zealand: Africa – 2025 Civil Society Forum: African Development Bank and Civil Society Reaffirm Alliance for Africa’s Transformation

SOURCE: African Development Bank Group (AfDB)

The forum provided an opportunity for the Bank to present its Civil Society Engagement Action Plan (2024–2028), reaffirming its commitment to an inclusive and participatory development process

ABIDJAN, Ivory Coast, May 14, 2025/ — The African Development Bank www.AfDB.org has reaffirmed its unwavering commitment to collaborating with African civil society to advance the continent’s development agenda. This was a key message of the 2025 Civil Society Organizations (CSO) Forum, which was successfully held on Thursday, May 8, 2025, in Abidjan.

The forum, organized under the theme: “Celebrating the Contribution of Civil Society to Africa’s Development,” brought together over 150 participants at the Bank’s headquarters, with thousands more connected online across Africa and the diaspora.

A Novel Action Plan to Deepen Engagement

This edition of the CSO Forum marked a pivotal step in reinforcing a solid, transformative, and trust-based partnership between the African Development Bank and civil society organizations. This enduring alliance is essential for collectively serving African populations and achieving impactful development across the continent.

The forum provided an opportunity for the Bank to present its Civil Society Engagement Action Plan (2024–2028), reaffirming its commitment to an inclusive and participatory development process.

Zeneb Touré, Manager of the Civil Society and Community Engagement Division, presented the strategic framework to Beth Dunford, the African Development Bank Group’s Vice-President for Agriculture, Human, and Social Development, who accepted it on behalf of the institution’s President, Akinwumi Adesina.

Demonstrating the Bank’s commitment to a diverse and inclusive partnership, Dunford shared the Action Plan with representatives of key civil society components: the Bank-Civil Society Committee, the Climate and Energy Coalition, and a continental network of women entrepreneurs’ associations.

Augustine Njamnshi, a prominent voice in the civil society climate and energy movement, welcomed its adoption: “The approval of this Action Plan marks a historic turning point in our collaboration with the African Development Bank Group. Born from a shared vision, this document becomes our collective legacy. We express our sincere gratitude to the Bank for this profound act of trust.”

Highlighting the essential role of civil society as an integral part of Africa’s progress, Kolyang Palebele, representative of the Platform of Farmers’ Organizations of Africa, expressed the spirit of collaboration, praising “the Bank’s unique power to unite the continent’s driving forces around a common vision of improving the lives of African people.” “Civil society is not on the margins of development dynamics; it is the very essence, its living memory and its engine for change,” Mr. Palebele stated.

“Over the years, civil society engagement has become a cornerstone of the African Development Bank’s work. What was once an aspiration has become evolved into a structured, institutionalized, and results-oriented collaboration partnership.” Ms. Dunford emphasized.

Empowering Communities Through Decentralized Engagement

During the forum, an important session highlighted the progress made in decentralizing the Bank’s engagement with civil society. Successful experiences from the five regions of Africa were presented. This localized approach was strongly commended by the Vice-President for Regional Development, Integration and Service Delivery, Nnenna Nwabufo, who appreciated a transformative cross-border initiative between the Central African Republic and the Democratic Republic of Congo. The project has provided over 2.4 million people with access to clean water, sanitation, and hygiene, while strengthening community resilience and fostering cooperation.

Fostering Mutual Accountability Through Open Dialogue

The forum culminated in an unprecedented and frank dialogue between senior representatives from seven strategic departments of the Bank and leaders of civil society organizations. Discussions focused on crucial areas such as access to information, environmental and social safeguards, climate action, agriculture, gender equality, youth empowerment, and grievance mechanisms. This essential interaction highlighted a shared commitment to transparency, responsiveness, and mutual accountability in the pursuit of sustainable development outcomes.

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

MIL OSI New Zealand News –

May 15, 2025
MIL-OSI China: UNESCO intangible cultural heritage: Farmers’ dance of China’s Korean ethnic group

Source: People’s Republic of China – State Council News

Editor’s note: The farmers’ dance of China’s Korean ethnic group was inscribed on UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity in 2009. This listing acknowledges the cultural significance of this dance, which is a central aspect of the Korean ethnic minority’s agricultural traditions in China. The dance, often accompanied by songs and rhythmic music, reflects the community’s agricultural lifestyle and is a vital part of their rituals, social life and labor practices.

The farmers’ dance is particularly rooted in regions with significant Korean populations, such as Jilin and Heilongjiang provinces. It is performed during agricultural activities, such as planting and harvesting, and is also a feature of important festivals and community gatherings. The dance integrates various cultural elements, such as the interaction between song, movement and community participation, illustrating the harmony between humans and nature in agricultural life.

The origins of farmers’ dance of China’s Korean ethnic group date back to the early settlements of Korean people in northeastern China. Immigrants from Korea brought with them not only agricultural knowledge but also dance and music traditions that were deeply embedded in their farming lifestyle. Over time, these dances evolved to reflect the specific agricultural practices of the region, taking on new forms and meanings as they adapted to local customs.

These dances are closely tied to farming seasons and labor, often performed to celebrate the harvest or during community events that mark significant agricultural milestones. The dance incorporates both symbolic and practical elements — its rhythm and movements historically helped coordinate labor tasks, boosting the morale of workers. As such, the dance is both a form of social expression and a tool for enhancing communal work.

In the 20th century, as modernization and urbanization spread, many rural areas saw a shift away from traditional farming practices, which affected the prominence of these dances. However, efforts to preserve the farmers’ dance have been ongoing, ensuring that its cultural value is maintained.

Today, the farmers’ dance continues to be an essential part of the cultural identity of China’s Korean ethnic communities, though its role has evolved. It is still performed in rural areas during festivals, cultural celebrations and other communal activities, but the frequency of its performance has decreased as more young people leave farming communities for urban areas. Despite this, efforts to preserve the dance are ongoing, particularly through local cultural centers, schools, and community programs aimed at passing the tradition to younger generations.

The dance is also featured in various public performances and cultural showcases, helping maintain its relevance and introduce it to wider audiences. In addition, the dance has found new expressions in academic and artistic circles, where it is studied and revitalized as part of a broader effort to preserve the intangible cultural heritage of China’s Korean ethnic group.

UNESCO’s recognition of the farmers’ dance of China’s Korean ethnic group highlights its cultural significance as a living tradition that has played an important role in shaping the social fabric and agricultural practices of the Korean community in China. UNESCO has praised the dance for its role in fostering unity and community cohesion, as well as for its ability to express the relationship between people and nature through movement, music and song.

The farmers’ dance is seen as an important cultural practice that promotes social interaction and solidarity within communities. UNESCO has emphasized that the dance’s ability to bring people together, whether for labor or celebration, ensures its ongoing relevance as a means of cultural expression. By including the farmers’ dance on the Representative List, UNESCO seeks to preserve this invaluable tradition for future generations and to raise awareness of its broader cultural importance within global intangible heritage.

Discover more treasures from China on UNESCO’s ICH list:

• 2024: Spring Festival

• 2022: Traditional tea processing

• 2020: Wangchuan ceremony, taijiquan

• 2018: Lum medicinal bathing of Sowa Rigpa

• 2016: Twenty-four solar terms

• 2013: Abacus-based Zhusuan

• 2012: Training plan for Fujian puppetry performers

• 2011: Shadow puppetry, Yimakan storytelling

• 2010: Peking opera, acupuncture and moxibustion, wooden movable-type printing, watertight-bulkhead technology of Chinese junks, Meshrep

• 2009: Yueju opera, Xi’an wind and percussion ensemble, traditional handicrafts of making Xuan paper, traditional firing techniques of Longquan celadon, Tibetan opera, sericulture and silk craftsmanship, Regong arts, Nanyin, Khoomei, Mazu belief and customs, Dragon Boat Festival, Manas, Craftsmanship of Nanjing Yunjin brocade, Xinjiang Uygur Muqam art, Hua’er, China engraved block printing technique, Chinese traditional architectural craftsmanship for timber-framed structures, Chinese paper-cut, Chinese calligraphy, Chinese seal engraving, Grand song of Dong ethnic group, Traditional Li textile techniques, Traditional design and practices for building Chinese wooden arch bridges

• 2008: Kunqu opera, Guqin, Urtiin Duu

MIL OSI China News –

May 15, 2025
MIL-OSI USA: Senators Marshall and Ernst Lead Effort to Streamline Conservation Practice Standards at USDA

US Senate News:

Source: United States Senator for Kansas Roger Marshall
Washington –U.S. Senators Roger Marshall, M.D. (R-Kansas) and Joni Ernst (R-Iowa), both members of the Senate Agriculture Committee, introduced the Streamlining Conservation Practice Standards Act – legislation that modernizes the process for updating conservation standards at the United States Department of Agriculture (USDA). This legislation would remove bureaucratic barriers and better support farmers in implementing conservation practices that improve soil health and water quality.
“Streamlining updates to conservation practice standards helps cut the bureaucratic red tape that our farmers have been wrongly forced to navigate. Our producers work hard to find new, innovative ways to work the land while conserving its resources, and the federal government should be a partner in doing so – not a roadblock,” said Senator Marshall. “I’m proud to work on this bipartisan solution with Senator Ernst to ensure farmers have the tools necessary to support conservation efforts and help producers leave their land better than they found it.”
“Traveling across Iowa, I regularly hear from farmers who are eager to implement conservation practices that improve soil health, water quality, and long-term productivity – but they face real barriers when rigid USDA standards slow things down,” said Senator Ernst. “I’m leading the Streamlining Conservation Practice Standards Act to modernize how USDA’s Natural Resource Conservation Service updates its technical standards. Ultimately, the goal is simple: let’s cut the red tape, let’s keep standards science-based and flexible, and help farmers get conservation tools in use faster.”
This bill is cosponsored by U.S. Senators Martin Heinrich (D-New Mexico) and Richard Durbin (D-Illinois).
“By leveraging innovations in regenerative agriculture and soil health practices, we can help farmers and producers make their working lands more resilient,” said Senator Heinrich. “Our bipartisan legislation accomplishes this by updating and streamlining the process for developing new conservation practice standards at the U.S. Department of Agriculture’s Natural Resource Conservation Service. This will allow producers to build more resilience into their operations.”
“Illinois ranks fourth in the nation in planted cropland, but for years, has ranked as low as 37th in farm conservation funds that USDA distributes to help farmers adopt cover crops, conservation tillage, and other critical environmental practices. USDA’s statewide one-size-fits-all conservation practice rules do not always match the unique needs of each farm,” said Senator Durbin. “This bill creates a process to add more flexibility to these standards, provide routine updates to keep up with the latest innovations, and ensure more academic and farmer input into developing the conservation practices.”
The Streamlining Conservation Practice Standards Act would update the USDA’s process to:
Require a regular review of existing conservation practice standards.
Create a public process for submitting and adopting new practices.
Prioritize the integration of innovative tools like nutrient efficiency technologies – biological fertilizer being one example that’s proven to improve plant growth.
The full text of the legislation can be found here.

MIL OSI USA News –

May 15, 2025
MIL-OSI Asia-Pac: Summer Family Cine Fest to take families on fantastical cinematic adventures (with photos)

Source: Hong Kong Government special administrative region

   The Film Programmes Office (FPO) of the Leisure and Cultural Services Department will present the Summer Family Cine Fest (SFCF) from July 12 to August 16, offering over 40 fun-filled film screenings at the Hong Kong Film Archive, Hong Kong City Hall, the Hong Kong Science Museum, the Hong Kong Space Museum (HKSpM) and the North District Town Hall. The programme is one of the highlights of the International Arts Carnival (IAC).

   The Feature Films section features 15 works. Blending animation and live action, “Diplodocus” (2024) tells the story of a cute little comic dinosaur, which, in order to save itself and its family, must help its creator regain his confidence to create. In the animated film “Into the Wonderwoods” (2024), while on the way to visit his grandmother, 10-year-old Angelo is accidentally left behind in the wild. With his imagination and courage, he embarks on a solo journey while braving monsters and demons in the forest.

   In “Fox and Hare Save the Forest” (2024), a selfish beaver causes a flood in the forest, and other animals bravely come together to save their home. “Tummy Tom and the Lost Teddy Bear” (2024) follows a cat on an adventurous journey to find its favourite cuddle toy bear. In “Benjamin Bat” (2024), a little bat named Benjamin is bullied by his brothers for loving singing and becoming friends with a bat’s sworn enemy, a bird. For himself and his friend, he needs to muster his courage to stand up against the odds. A cute penguin in “Thelma’s Perfect Birthday” (2024) accidentally travels from the Land of Ice to the warm Great Forest and learns the meaning of growth through this whimsical journey.

   “Buffalo Kids” (2024) from Spain tells the story of two young siblings and their disabled new friend teaming up to battle wits and strength against outlaws of the Wild West in a thrilling adventure of courage and inclusion. Starting from the parents of a young boy building a sailboat in their home garden, “A Boat in the Garden” (2024) tells a story of perseverance and dedication of a family of three in the pursuit of dreams.

   The Swedish film “The Pinchers’ High Voltage Heist” (2023) delivers a comedic portrayal of a quirky family of thieves and their hilarious lives together. In the award-winning “Coco Farm” (2023), three youngsters strive to build a business guided by conscience. In “Lampo, The Travelling Dog” (2023), a social media-famous dog and a sick girl cross paths at a train station, leading to a heartwarming tale of mutual care between human and canine. “Greetings from Mars” (2024) tells the story of how Tom turns his passion for space exploration into strength when his mother has to travel a long way away.

   The SFCF also features three sports-themed films. “King Richard” (2021) depicts the parenting story of tennis superstars Venus and Serena Williams’ father and coach, who meticulously guided them to success. Lead actor Will Smith won Best Actor awards at the Academy Awards, Golden Globe Awards and British Academy of Film and Television Arts Awards for his performance. “Lioness” (2023) follows a South American migrant girl in the Netherlands pursuing her dream of becoming a football player in a strange land. “The Hill” (2023) delivers a passionate and inspiring true story of a baseball prodigy overcoming adversity despite suffering from a degenerative spinal condition.

   In addition, the FPO will co-organise with the HKSpM to present the dome show, “The Great Solar System Adventure!” (2024), at the Space Theatre of the HKSpM. Audiences will be guided through an exhilarating journey across the solar system. After the screenings, audiences will be invited to join a post-screening activity at the HKSpM Lecture Hall to make Mars paper models and learn about the major discoveries of various Mars exploration missions. This activity will be conducted in Cantonese.

   Veteran dubbing artists Yip Ka-man and Kinson Lai will perform live Cantonese dubbing for “Thelma’s Perfect Birthday”, “Benjamin Bat” and “Into the Wonderwoods” with no subtitles. “The Great Solar System Adventure!” is in Cantonese, with English available through the headphone system, with no subtitles. Other films will feature Chinese and English subtitles.

   Apart from the feature films, the FPO has hand-picked 20 animated short films from around the world to present three World Animation & Shorts programmes, titled “All About Love”, “Is That OK?” and “Craving For Food!”. Professional actor and drama tutor Man Jai (Raymond Chan) will host an introduction in Cantonese for the programmes.

   The FPO will also present a two-day event titled Summer of Light: Cinematic Adventure at Sai Wan Ho Civic Centre on July 12 and 13. The event consists of free activities and ticketed workshops for the public to participate. Details will be available in early June on the FPO website www.lcsd.gov.hk/fp.

   Tickets are priced at $88 and will be available from tomorrow (May 16) at URBTIX (www.urbtix.hk). For telephone bookings, please call 3166 1288. For programme enquiries and concessionary schemes, please call 2734 2900 or visit www.lcsd.gov.hk/fp/en/listing.html?id=75.

   For details of other IAC programmes, please visit the website www.hkiac.gov.hk.



MIL OSI Asia Pacific News –

May 15, 2025
MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for May 15, 2025

ER Report: Here is a summary of significant articles published on EveningReport.nz on May 15, 2025.

Ferocity, fitness and fast bowling: how Virat Kohli revolutionised Indian cricket
Source: The Conversation (Au and NZ) – By Vaughan Cruickshank, Senior Lecturer in Health and Physical Education, University of Tasmania Virat Kohli announced his retirement from Test cricket on Monday. While his Instagram message just said this was the “right time”, his poor recent Test form, mental fatigue and desire to spend more time with

Curious Kids: if our eyes see upside down, how does the brain flip the picture?
Source: The Conversation (Au and NZ) – By Daniel Joyce, Senior Lecturer in Psychology, University of Southern Queensland I heard that we see upside down, but our brain flips the image. How does it do that? –Jasmine, Mount Evelyn, Victoria Our eyes work thanks to light. Objects we can see are either sources of light

Return of the huia? Why Māori worldviews must be part of the ‘de-extinction’ debate
Source: The Conversation (Au and NZ) – By Nic Rawlence, Associate Professor in Ancient DNA, University of Otago A museum specimen of the extinct huia. Wikimedia Commons/Auckland Museum collection, CC BY-SA The recent announcement of the resurrection of the dire wolf generated considerable global media attention and widespread scientific criticism. But beyond the research questions,

After an autocratic leader was toppled in Bangladesh, democratic renewal remains a work in progress
Source: The Conversation (Au and NZ) – By Intifar Chowdhury, Lecturer in Government, Flinders University Last July, a powerful student-led uprising in Bangladesh toppled the authoritarian, corrupt government led for 15 years by Prime Minister Sheikh Hasina. Bangladesh now shows modest signs of democratic recovery. Months into its tenure, a transitional government has reopened political

Greenpeace flagship Rainbow Warrior to return for 40th anniversary of French bombing
By Russel Norman The iconic Greenpeace flagship Rainbow Warrior will return to Aotearoa this year to mark the 40th anniversary of the bombing of the original campaign ship at Marsden Wharf in Auckland by French secret agents on 10 July 1985. The return to Aotearoa comes at a pivotal moment — when the fight to

Can we confront cancel culture by finding common ground between moderate leftists and ‘wokists’?
Source: The Conversation (Au and NZ) – By Hugh Breakey, Deputy Director, Institute for Ethics, Governance & Law, Griffith University A.C. Grayling’s new book Discriminations: Making Peace in the Culture Wars sees the renowned philosopher wading into the ethical minefields of “woke” activism, cancellation, and conservative backlash. Filled with thoughtful analysis, deep reflection, and fascinating

Justice on demand? The true crime podcasts serving up Erin Patterson’s mushroom murder trial
Source: The Conversation (Au and NZ) – By Kate Cantrell, Senior Lecturer – Writing, Editing, and Publishing, University of Southern Queensland The trial of the so-called “mushroom cook” Erin Patterson, currently underway in the Victorian town of Morwell, continues to generate global attention. The mother of two is charged with three counts of murder and

This 6-point plan can ease Australia’s gambling problems – if our government has the guts
Source: The Conversation (Au and NZ) – By Charles Livingstone, Associate Professor, School of Public Health and Preventive Medicine, Monash University WHYFRAME/Shutterstock We have a refreshed and revitalised Australian government, enriched with great political capital. During the last term of parliament before the election, opportunities to address Australia’s raging gambling habit were neglected. Could this

Whatever happened to Barbie’s feet? Podiatrists studied 2,750 dolls to find out
Source: The Conversation (Au and NZ) – By Cylie Williams, Professor, School of Primary and Allied Health Care, Monash University elinaxx1v/Shutterstock What do you get when a group of podiatrists (and shoe lovers) team up with a Barbie doll collector? A huge opportunity to explore how Barbie reflects changes in the types of shoes women

Economic pessimism is behind the drift of voters to minor parties and independents
Source: The Conversation (Au and NZ) – By Viet Nguyen, Principal Research Fellow, Macroeconomics Research Program, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne Growing economic pessimism appears to have pushed many voters away from Australia’s two major parties, Labor and the Coalition. Support for minor parties and independents has doubled

A law change will expand who we remember on Anzac Day – the New Zealand Wars should be included too
Source: The Conversation (Au and NZ) – By Alexander Gillespie, Professor of Law, University of Waikato The New Zealand Wars memorial in new Plymouth. Wikimedia Commons, CC BY-SA Anzac Day has come and gone again. But – lest we forget – war and its consequences are not confined to single days in the calendar. Nor

Newly discovered frog species from 55 million years ago challenges evolutionary tree
Source: The Conversation (Au and NZ) – By Roy M. Farman, Adjunct Associate Lecturer, School of Biological, Earth and Environmental Sciences, UNSW Sydney Australian Green Tree Frog (_Litoria caerulea_). indrabone/iNaturalist, CC BY-NC Australian tree frogs today make up over one third of all known frog species on the continent. Among this group, iconic species such

Two lizard-like creatures crossed tracks 355 million years ago. Today, their footprints yield a major discovery
Source: The Conversation (Au and NZ) – By John Long, Strategic Professor in Palaeontology, Flinders University Marcin Ambrozik The emergence of four-legged animals known as tetrapods was a key step in the evolution of many species today – including humans. Our new discovery, published today in Nature, details ancient fossil footprints found in Australia that

Politics with Michelle Grattan: Andrew Leigh on more productive work in the age of AI
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Australia’s productivity performance has stagnated for years, and Treasurer Jim Chalmers has declared addressing this is a second term priority. “Productivity” is now an added part of the remit of Assistant Minister Andrew Leigh, along with his responsibility for competition,

Caitlin Johnstone: Israel admits it bombed a hospital to kill a journalist for doing journalism
Report by Dr David Robie – Café Pacific. – COMMENTARY: By Caitlin Johnstone The IDF has admitted to bombing a hospital in order to assassinate a prominent Palestinian journalist in Gaza, Hassan Aslih, explicitly stating that they assassinated him for engaging in journalistic activities. The official Israel Defense Forces account made the following post on

Men are shaving off their eyelashes on TikTok. Here’s why that might be a bad idea
Source: The Conversation (Au and NZ) – By Amanda Meyer, Senior Lecturer, Anatomy and Pathology, James Cook University Bhatakta Manav/Shutterstock Videos of men removing their eyelashes, by trimming or shaving, have been circulating on social media in recent weeks. This trend is based on the idea short eyelashes look more masculine. Hair can tell us

Soon, your boss will have to pay your wages and super at the same time. Here’s how everyone could benefit
Source: The Conversation (Au and NZ) – By Helen Hodgson, Professor, Curtin Law School and Curtin Business School, Curtin University Dragon Images/Shutterstock If you have a job in Australia, you’ve probably noticed each of your payslips has a section telling you how much superannuation will be paid alongside your wages. But while your wages are

What is the ‘glass cliff’ phenomenon – and why do women often find themselves on the precipice?
Source: The Conversation (Au and NZ) – By Kerrie-Anne Hammermeister, PhD Candidate in the School of Humanities and Communication, University of Southern Queensland GoodStudio/Shutterstock Speaking to the media after being named leader of the Liberal Party, Sussan Ley was asked if this appointment was an example of the “glass cliff effect”. Ley said “I don’t

Fiji Indians in NZ ‘not giving up’ on Pasifika classification struggle
By Susana Suisuiki, RNZ Pacific Waves presenter/producer, and Christina Persico, RNZ Pacific bulletin editor The co-founder of Auckland’s Fiji Centre is concerned that Indo-Fijians are not classified as Pacific Islanders in Aotearoa. This week marks the 146th anniversary of the arrival of the first indentured labourers from British India to Fiji, who departed from Calcutta.

MIL OSI Analysis – EveningReport.nz –

May 15, 2025
MIL-OSI USA: Van Orden Votes to Advance Agriculture Committee Reconciliation Bill
Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

WASHINGTON, D.C. – Today, Congressman Derrick Van Orden (WI-03) released the following statement after voting to pass the House Agriculture Committee’s budget reconciliation bill:

“Transparency, sustainability, accountability: these are the three things this bill delivers for the American people. Every SNAP dollar fraudulently spent is a dollar that does not go toward feeding a hungry child. That is why we are holding states accountable for their waste, fraud, abuse, and ensuring benefits are directed to the Americans who need them most.

“Being fiscally responsible and protecting benefits for vulnerable Americans can exist in the same universe. I am grateful to Chairman Thompson for working with me to adjust state cost-sharing responsibilities based on SNAP error rates. It is fair, proportional, and incentivizes good program management by holding high-error states accountable without dragging the states with smaller error rates, like Wisconsin, down with them.”

The House Agriculture Committee’s reconciliation bill includes the following provisions that will save billions of taxpayer dollars while protecting vulnerable populations and rural communities:
- Increasing the dairy Tier I cap
- Investing in agriculture research
- Bolstering trade promotion
- Strengthening the farm safety net
- Encouraging states to administer SNAP program benefits more efficiently and effectively
- Limiting a state’s ability to exploit loopholes that allowed them to inflate SNAP benefits
- Strengthening SNAP work requirements for able-bodied adults without dependents
- Refocusing SNAP eligibility on American citizens and legal permanent residents
Prior to markup, Rep. Van Orden delivered opening remarks on the committee’s bill. Click here to watch.

MIL OSI USA News –
May 15, 2025
MIL-OSI USA: Rep. Salinas Votes Against “Cruel and Inhumane” Republican Budget in Agriculture Committee

Source: US Representative Andrea Salinas (OR-06)

Washington, DC – Today, Congresswoman Andrea Salinas (OR-06) issued the following statement after voting against advancing Republicans’ budget bill out of the House Agriculture Committee:

“This Republican budget bill is both cruel and inhumane. It punishes working families, taking away their health care and threatening food assistance for over 800,000 Oregonians. This legislation hurts farmers and small business owners who depend on SNAP purchases as a critical source of income, and it leaves Oregon’s rural communities without enough resources to fight wildfires and other natural disasters. What’s more, Republicans are doing all of this just so they can give more tax breaks to their billionaire donors.

Over the last two days, my Democratic colleagues and I have been working tirelessly to stop this disastrous legislation from moving forward out of the Agriculture Committee. We introduced dozens of amendments, many of them straightforward fixes that would have protected food assistance for children and ensured fired Forest Service workers are reinstated ahead of wildfire season. Yet at every turn, Republicans refused to work with us and were often absent from the committee room as we held these important discussions.

By forcing through this harmful legislation, Republicans have also shot down any chance of a truly bipartisan Farm Bill getting passed this Congress. They have sold out our farmers, seniors, veterans, and rural communities in order to line the pockets of Elon Musk and his rich friends. My constituents deserve better, and I will keep fighting to stop these massive cuts and protect Oregonians’ hard-earned benefits.”

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MIL OSI USA News –

May 15, 2025
MIL-OSI USA: Congressman Baird Applauds Passage of House Agriculture Committee’s Section of the One Big, Beautiful Bill

Source: United States House of Representatives – Congressman Jim Baird (R-IN-04)

Congressman Baird Applauds Passage of House Agriculture Committee’s Section of the One Big, Beautiful Bill

Washington, May 14, 2025

Today, Congressman Jim Baird (IN-04) released the following statement after the House Agriculture Committee markup and passage of the committee’s portion of the One Big, Beautiful Bill:

“I was proud to vote to advance the House Agriculture Committee’s portion of the One Big, Beautiful Bill. This legislation represents an important step toward passing the Farm Bill to properly invest in our farmers, growers, and producers and prioritize rural America. The Agriculture Committee’s portion of this bill also enacts common-sense reforms to the Supplemental Nutrition Assistance Program (SNAP). Throughout the process, I was deeply disappointed to hear my Democrat colleagues repeatedly fearmonger and mislead the American public. These reforms simply do not leave children, the elderly, veterans, or other Americans in need without a lifeline or access to nutrition. Instead, this bill prevents non-citizens, except green card holders, from receiving federal SNAP benefits, closes loopholes in work requirement waivers, corrects the Biden Administration’s overreach, roots out fraud, and creates incentives for Americans to find opportunities that lift them out of poverty. Republicans are putting our farmers and American citizens first and strengthening our federal programs for those truly in need. I look forward to passing this legislation through the full House and Senate and sending this One Big, Beautiful Bill to President Trump’s desk soon.”

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MIL OSI USA News –

May 15, 2025
MIL-OSI USA: Sullivan, Hirono Introduce Legislation to Increase Funding for USDA Program Supporting Farmers and Ranchers in Alaska and Hawaii
US Senate News:
Source: United States Senator for Alaska Dan Sullivan

05.14.25

WASHINGTON—U.S. Senators Dan Sullivan (R-Alaska) and Mazie Hirono (D-Hawaii) this week reintroduced the Reimbursement Transportation Cost Payment (RTCP) Revitalization Act, legislation to secure additional funding for the U.S. Department of Agriculture (USDA) RTCP Program. The RTCP program enables geographically disadvantaged farmers and ranchers in Alaska, Hawaii, and other insular areas to receive reimbursements for costs incurred when transporting supplies such as feed, fertilizer, and equipment parts. This legislation also increases the amount of funding these producers can receive.

“Alaska’s farmers and ranchers face greater obstacles getting their goods to market due to our state’s vast size, many remote communities, and general lack of infrastructure,” said Sen. Sullivan. “I’m glad to join my colleagues in Hawaii to support a vital USDA program that makes it possible for these hard-working Alaskans to support our economy and feed their fellow Americans from the bounty of our great state.”

“Farmers, ranchers, and other agricultural producers work tirelessly to provide healthy and fresh produce for their communities, and those located in geographically disadvantaged areas deserve to be fairly compensated for the lengths which they go to transport supplies,” said Senator Hirono. “As we continue working toward increased agricultural sustainability, I am glad to reintroduce this bipartisan legislation to support food producers in Hawaii, Alaska, and other insular areas, helping to ensure that local producers can continue their work as valuable food sources in their communities.”

The RTCP program was established in the 2008 Farm Bill in recognition of the increased costs producers face in geographically disadvantaged areas. USDA began administering the program in 2010 and throughout its history, demand for this popular program has substantially exceeded available funds. In addition to Alaska and Hawaii, the program is also available to farmers, ranchers, and producers in Puerto Rico, Guam, American Samoa, the Northern Mariana Islands, the Federated States of Micronesia, the Republic of the Marshall Islands, the Republic of Palau, and the Virgin Islands.

Due to the increase in both demand for the program as well as costs for producers, the RTCP Revitalization Act aims to secure additional funding for the program. Specifically, the bill would:
- Provide mandatory funding for RTCP, starting with $10 million in fiscal year (FY) 2026, increasing by $1 million each year to $15 million in FY 2031, and then provides $15 million each fiscal year thereafter;
- Remove the $15 million payment cap for any given fiscal year that is currently in statute;
- Provide language saying that the Secretary may not impose a cap to individual producer payments for any fiscal year that program funds exceed demand; and
- Retain the authority for appropriators to fund the program.
In addition to Senators Sullivan and Hirono, the legislation was also cosponsored by Senator Brian Schatz (D-Hawaii).

The full text of the legislation is available here. A one-page summary of the bill is available here.
MIL OSI USA News –
May 15, 2025
MIL-OSI New Zealand: Greens launch reckless attack on family farming

Source:

“The Green Party’s proposed asset and inheritance taxes would be a reckless attack on intergenerational family farms,” says ACT MP and dairy farmer Andrew Hoggard.

The ‘Green Budget’ includes a 2.5% annual tax on a couple’s net assets over $4 million and a 33% tax on inheritances over a $1 million threshold.

“The Greens’ proposed taxes on assets, trusts, and death would see land held within the family for generations sold off just to pay the tax bill. We’d see a scarring effect on rural communities, a sledgehammer to rural investment, and food production shifted offshore.

“The Greens seem to have a real hard time understanding the difference between realised gains and unrealised gains. Whilst a farmer may have assets it doesn’t mean that in every single year you have great weather and great commodity prices to generate a profit, in some years you have poor prices and poor weather, meaning you end up borrowing just to look after the farm and your staff, under this plan you would also be borrowing to pay your wealth tax.

“With the inheritance tax this could very well force many farming families off the land in the event of an untimely death of a family member. The surviving family members would be left with a tax bill and the only way to settle it may well be selling the farm. This was the outcome in past when we last had an inheritance tax in this country.

“Either the Greens just dislike farmers, or they forgot about us when scribbling new taxes on the napkin. They’ve decided anyone who owns a decent slice of land is a rich prick. Chlöe Swarbrick should speak to the farmers I’ve met – or any farmer – who face seasonal financial stress the likes of which she could never imagine.

“The end result of these policies would likely be a lot less family farms out there. Probably replaced by Soviet-style collective farms as this seems to be where they draw their agricultural inspiration from.”

MIL OSI New Zealand News –

May 15, 2025
MIL-OSI New Zealand: David Seymour: Address to Craigs Investment Partners
Source:

ACT Leader David Seymour: Address to Craigs Investment Partners Auckland

Introduction

Thank you to Craigs Investment Partners for hosting me today.

Every three years, we elect a new Parliament. Every year, we get a new Budget. And every Budget brings a flurry of headlines, hot takes, and handouts. But too often, what’s missing is a long view, a vision that extends beyond the next fiscal year, the next election, or the next political sugar hit.

In other words, instead of looking towards the next election, we should be thinking about the next generation.

Right now, New Zealand is in the middle of a repair job. After years of economic mismanagement and runaway spending, this Government is trying to patch the roof while the rain still falls. ACT supports that effort. But we also ask a bigger question: what comes next? Not just in the next quarter or the next Budget, but in the next few decades.

Because building a stronger economy starts with a long-term economic vision. A vision that restores freedom and personal responsibility to the individual, and rewards effort and innovation.

In a week’s time the Government will be revealing Budget 2025. It will detail the Government’s specific spending and revenue choices, key new infrastructure investments, the path for borrowing and debt and our plans for strengthening the fundamentals of the New Zealand economy.

New Zealand has gone through a tough few years of high inflation, high interest rates and little to no real growth. The Government has been running big deficits and accumulating debt. I’m proud to be part of a government that is slowing the spending of previous governments and making savings so we can fund the things that are most important.

Inflation and interest rates have been beaten back. Government doesn’t control every factor influencing them, but we can control our own spending. The Government’s commitment to spend less and maintaining that discipline over four years has helped win the war on inflation and interest rates.

Last week, Brooke van Velden MP made long-overdue changes to a broken pay equity system. As usual, Labour and the unions responded with scare tactics and misinformation. The fact is that Brooke’s changes bring back common sense. Pay equity claims will still be possible – but they’ll need real evidence of discrimination, not assumptions. That means a system that’s fair, workable, and sustainable for the long term.

The reason I bring this up is because Brooke’s fixes will have major budget implications, billions of dollars that balance the books and allow investments in important areas like health and education. She’s managed to do it in a way that means claims can still progress in cases of genuine sex-based discrimination – but if you’re a librarian looking to get a pay rise comparable to a fisheries officer then you’re out of luck.

Not many MPs would have the guts to take a controversial piece of work like this and progress it for the greater good. Brooke has shown what ACT is bringing to this Government – a willingness to take on tough issues and stand by our principles. This approach needs to be replicated and applied across a wider range of issues in order for New Zealand to tackle long-term issues.

Looking beyond a four-year cycle

Next week’s budget will take another step in the right direction for economic recovery. But while short-term repair is essential, we also need a long-term vision. What happens beyond this four-year cycle?

Previous Labour Budgets offered headline-grabbing sugar hits, ‘Wellbeing Budgets’ that felt good in the moment but lacked staying power, they essentially worked to pick a group, give them some money, and promote their generosity. The point that was often missed was that to give money to that group someone else had to stump up, probably your children and grandchildren. Now, this Government is carrying out the hard, necessary work by cutting unnecessary spending and reinvesting in core areas. But what comes next?

When it comes to government spending, New Zealand is standing on a burning platform. Last year, even as our population grew slightly, thanks to births and inbound migration, our economy shrank by one percent.

But here’s the real kicker: $10 billion of what the government spent was just to pay interest on existing debt. And next year? We’ll pay interest on the interest. The consequence? Government debt is forecast to soar past $200 billion in 2026.

Our national debt is growing by almost $2 million an hour, or more than $47 million a day.

As of the first quarter of 2025, New Zealand’s unemployment rate stands at 5.1 per cent, the highest in 4.5 years. Employment growth is minimal, and wage inflation has decelerated. At the same time, the doubling of debt we saw under the previous government is the new normal with $234.1 billion in debt by 2028/29, that’s $46,800 for every man, woman and child in this country today. The opposition is quick to deny responsibility. But let’s be real – it was under them debt went from 20-40 per cent of GDP. We are now projected to see a slowing and a decline. It was under Labour that inflation rose to 7 per cent and hollowed out the economy, it is under us that we have seen it come down to the usual low levels.

This is not sustainable. Not if you want your children and grandchildren to experience the same opportunities you once had.

And the challenges don’t stop there. There’s a demographic tailwind in our population growth, that’s becoming a headwind when it comes to balancing the books.

Our population is aging fast. Every year, around 60,000 people turn 65 and become eligible for superannuation.

We cannot keep ducking the big questions. Because what’s coming is not just a fiscal ripple, it’s a tidal wave that will envelop the country.

The global economy is more interconnected than ever before. As a small, open economy, New Zealand won’t escape the next global shock.

When Grant Robertson cranked up the money printers, blame was levelled at Putin, Covid, and cyclones. But crises are a fact of life, not an excuse for policy failure. It would be too easy for this Government to blame Trump. But a resilient country must be prepared regardless of who or what is happening around them.

In the 1990s, New Zealand demonstrated that resilience. Years of smart fiscal policy took our net core Crown debt from 55 per cent to just 5.4 per cent by 2008. Critics called it ‘austerity.’ But they’re still crying austerity when debt is 42.5 per cent. In 2019, pre-Covid, Jacinda Ardern’s Government was spending 28 per cent of GDP. In 2024, spending was 33.1 per cent of GDP. I don’t recall Labour being accused of austerity. But journalists and commentators find the current Government guilty of austerity when it spends 5 per cent of GDP more. Get real.

When the Global Financial Crisis and Covid hit, we were ready. Fast forward to today. That 5.4 per cent is now 42.5 per cent. Net core Crown debt has exploded from $10.3 billion in 2008 to over $175 billion today.

How did we get here?

Well, the simple answer is out of control spending from irresponsible governments. We’ve been here before. After the Muldoon Government’s reckless spending nearly bankrupted the country, it took the Lange Government and Sir Roger Douglas’s economic reforms to steer us back from the brink.

Growth and ambition

New Zealand’s population is expected to reach 6 million by 2043. That’s a good thing. We should be encouraging our best and brightest to stay, and welcoming innovative minds from around the world. We have the wide-open spaces and natural beauty to attract people, but not the ambition or economic opportunity to retain them judging by the roughly 69,100 New Zealand citizens choosing to leave in the year to February 2025.

We’ve tried spending more and the result was more debt and many of the same problems. In fact, if there’s one thing Grant Robertson taught us all it’s that we can’t spend our way out of this mess. Without radical policy change, there is no plausible path that avoids long-term fiscal and social collapse.

So what can we do?

Smaller, smarter government

We should make government itself more efficient. Fewer ministers, fewer departments, and clearer accountability. New Zealanders don’t need 82 portfolios to live better lives. They just need a government that does its job, and then gets out of their way.

It’s a shift away from the idea that the government exists to solve every problem by creating a minister named after it. And towards a view that the government’s job is to manage your money responsibly and provide core public services that allow you to go about your life, respecting your property rights.

If the Government was truly focused on outcomes rather than optics, we’d have fewer ministers but higher standards. We’d have fewer bureaucrats, but better services. We’d be empowering New Zealanders to make their own decisions, not adding layers of officials to make them for us.

Our proposal is to have:
- Only 20 Ministers, with no ministers outside cabinet
- No associate ministers, except in finance
- Abolish ‘portfolios’, there’s either a department or there’s not
- Reduce the number of departments to 30 by merging them and removing low-value functions
- Ensure each department is overseen by only one minister
- Up to eight under-secretaries supporting the busiest ministers, effectively a training ground for future cabinet ministers
More personal choice in education and health

A lot of the biggest problems we face as a nation can be solved by ensuring the next generation has access to a great education.

While our Government has made a lot of improvements in this area, banning devices that were destroying children’s concentration, bringing back charter schools to ensure there is more flexibility and choice in the system, and returning logic and common sense to the curriculum in key areas like literacy and numeracy, many parents still ask, how do we spend $330,000 on every child’s education and still get these results?

What if we gave New Zealanders a choice?

With $333,000 per student over a lifetime, how many families would choose a better option if they had control over that money instead of handing it over to the Government. Like a KiwiSaver account, parents and students would be able to see the balance of funding that is available and make choices about how to fund an education.

It is taking power away from the bureaucracy and back to the people. The only way to ensure New Zealand’s schools become leaders rather than laggards is to have an education system that is responsive to parental demand rather than political orthodoxy.

We can apply the same concept to the health system. How do we spend $6,000 per citizen annually on health, and still end up on waiting lists?

What if every person could opt out of the public health system and take their $6,000 to buy private health insurance? Many would. And many would be better off.

We shouldn’t have a default position of tax and spend for every public service. If the past few years have taught us anything it’s that taxing and spending more doesn’t lead to greater outcomes. Giving people greater control over their own lives would bring about real change.

Zero-basing government

We need to stop assuming government departments and activities should continue because they always have. It’s easy to think of New Zealand companies that no longer exist. Anyone shopped at Deka lately? Read the Auckland Star? Got a loan from South Canterbury Finance? Had Mainzeal put anything up for you? Anyone here had a night in thanks to Video Ezy this decade?

For a variety of reasons those national brands along with a lot of other local businesses are gone. Basically, if they don’t deliver better than anyone else could, they go. But when was the last time you heard of a government department being surplus to requirements and closed down?

How many zombie departments and zombie bureaucrats does this country have? People who just carry on collecting a pay cheque for their own purposes instead of any public purpose. Why do we put up with the idea that government can get bigger, but it can never get smaller?

ACT says we need to zero base government. By that I mean going back to zero and asking ourselves, if the departments and bureaucracies we have now didn’t exist, would we establish them today?

We would ask every department to answer the simple question; if you didn’t exist, who would notice and why?

The justifications will have to fit with a robust view of what government can, and can’t, do.
- Can the private sector provide this service?
- Is there a genuine conflict between citizens’ interests that cannot be resolved without government intervention?
- What are the costs and benefits of this activity, and do the benefits outweigh the costs?
The size of government would be reduced dramatically by eliminating activities that don’t fit with these simple questions.

Tackling the hard conversations

We need a serious conversation about the future of retirement income. Not because it’s easy, but because it’s essential.

We need to face facts on superannuation. People are living over ten years longer than they were two generations ago, and they are having fewer children to pay taxes for superannuation. That means we need to consider whether our current approach is fair or sustainable. This could mean increasing the age by two months per year until it reaches 67. Someone who is currently retired would see no difference from this policy. Someone who is currently 64 would be eligible for superannuation two months later than currently planned. Sooner or later, a Government will need to address this.

The Winter Energy Payment makes a big difference for a lot of Kiwis, but for a lot more it lands in a special account that gets put aside for a holiday fund. Why don’t we ensure that the Winter Energy Payment went to those who needed it. It could be restricted to over-65s who hold Community Services Cards and recipients of main benefits.

Then there’s the corporate welfare. It took political courage for Sir Roger Douglas to ditch the agriculture subsidies and ask farmers to embrace the market. Looking back, I don’t think you’d find a farmer who wouldn’t agree that it was the right decision.

Why don’t we just let people keep more of their taxes and spend and invest their money the way they’d like to?

Between health, education, pensions, and welfare you have around $95 billion, a massive chunk of the government’s budget. The question isn’t whether we’re spending enough in these areas, it’s how we can find more productivity growth so New Zealanders get better services.

Cutting red tape

Housing and infrastructure costs are out of control not because of material costs, but because of government regulation. The RMA, excessive building codes, and earthquake regulations are driving prices sky-high. Reform is long overdue.

The Government is doing a huge amount of work in this area, most importantly by delivering a property rights based RMA – a concept ACT has fought hard for.

Long term, there will need to be a change in attitude when it comes to lawmaking. The Regulatory Standards Bill is one tool to do this, bringing transparency to lawmaking so when a politician makes a silly populist law, they’ll need to justify it to the public.

I think the Regulatory Standards Bill could have prevented many of the issues we’re dealing with today. Take earthquake regulations. In Auckland the chance of a major seismic event is roughly one in 110,000 years, yet property owners there are still being forced through costly assessments and upgrade requirements designed for high-risk areas.

It makes no sense. These one-size-fits-all rules are driving up costs and pushing down property values without delivering meaningful safety benefits. Instead of scaring owners into unnecessary spending, good policy would have adopted a risk-based approach that targets genuine seismic threats, not bureaucratic box-ticking.

These law changes are costly, mainly in lost productivity for decades to come. The Government’s default position should be not to regulate. Regulation should be the exception, not the rule. We must trust people, not bureaucracy.

The challenge

If we carry on in the current direction, we won’t remain a first-world country. We’ll be a middling island in the Pacific, lamenting the opportunities we let pass us by.

There is a way forward. But it starts with honesty.

We must rebuild New Zealand as a country that works, not just for today, but for generations to come. That means putting power back in the hands of people. That means cutting waste, reforming entitlements, and restoring ambition.

It means choosing freedom over control, responsibility over excuses, and aspiration over resentment.

MIL OSI New Zealand News –
May 15, 2025
MIL-OSI USA: Thompson, Bonamici Introduce Legislation to Strengthen Community Services Block Grant Program
Source: United States House of Representatives – Congressman Glenn Thompson (5th District Pennsylvania)

WASHINGTON, D.C. – U.S. Representatives Glenn “GT” Thompson (R-PA) and Suzanne Bonamici (D-OR) today introduced the Community Services Block Grant Improvement Act of 2025 to update the Community Services Block Grant (CSBG) program.

The CSBG program is the only federal program with the singular mission of fighting poverty. The program supports more than 1,000 Community Action Agencies (CAAs) in nearly every county across the United States.

For more than 60 years, CAAs have provided a range of holistic services to low-income individuals and communities across the country, including education, skills development, financial literacy, and other services promoting economic independence. CAAs serve an estimated 10 million low-income individuals annually, representing nearly 5 million families across the U.S., providing a critical “first stop” for those in need to navigate the resources available to them.

“The Community Services Block Grant fulfills a core American value: neighbors helping neighbors in need,” Rep. Thompson said. “This bipartisan legislation reaffirms our commitment to reducing poverty to strengthening communities across the country, provides much needed reforms to ensure community action agencies across the country can continue to serve vulnerable populations, and ultimately will help put those in poverty on the path to independence.”

“Congress created the Community Services Block Grant program to assist low-income individuals and families during challenging times while addressing the causes and conditions of poverty,” Rep. Bonamici said. “The program funds Community Action Agencies and benefits millions of people across the country. I am pleased to join my colleague Rep. Glenn “GT” Thompson in leading this bipartisan update to CSBG to provide Oregonians and Americans with opportunities that will help them achieve stability so they can thrive rather than struggle.”

“Representatives Thompson and Bonamici have a proven record of putting Americans first, and we thank them for their leadership on this bipartisan bill. It supports strong, successful community programs nationwide and brings local solutions, innovation, opportunity and hope to every corner of the country. The bill also reinforces Community Action’s commitment to performance, accountability and using every federal dollar wisely. Thanks to the steadfast, bipartisan leadership of Representatives Thompson and Bonamici, this bill will be a breath of fresh air for every American community when it passes.”- David Bradley, National Community Action Foundation CEO

COMMUNITY SUPPORT
“I am deeply thankful for Congressman GT Thompson, who has consistently been a true champion for Central Pennsylvania Community Action, Inc. and the Community Services Block Grant. His unwavering support ensures that we can continue to provide vital programs and services like the Weatherization Assistance Program, Low Income Home Energy Assistance Program, sixteen (16) food pantries, Medical Assistance Transportation Program, and four (4) HUD subsidized housing projects to individuals and families across Clearfield and Centre Counties (10,312 individuals in 2024). Without his advocacy, our ability to meet the growing needs of the community would be severely limited. We are fortunate to have a representative who truly understands and values the impact of community action.” – Michelle Stiner, Executive Director, Central Pennsylvania Community Action

“Congressman Glenn Thompson has been a steadfast advocate for Armstrong County Community Action Partnership (ACCAP), consistently recognizing the vital role local organizations play in improving lives and creating stronger, more resilient communities. His support ensures that Armstrong County families have access to the tools, resources, and opportunities they need to thrive, including access to nutritious food, which is fundamental to health and stability. ACCAP operates the Armstrong County Foodbank; we have 16 food pantries spread throughout the county. In 2023, our foodbank distributed nearly 12,000 boxes of food, and in 2024, that number rose to nearly 19,000 boxes. That is a 63% increase in one year. Congressman Thompson understands these types of challenges communities face, especially in rural counties like Armstrong. We’re grateful for his continued commitment to the work our agency does every day – lifting people up, fostering self-sufficiency, and building a brighter future for everyone.” – Marlene Petro, Executive Director, Armstrong Country Community Action Partnership

“For the last sixty years, the Community Services Block Grant has been a catalytic tool employed across the United States to improve conditions for people with low incomes, empowering them to gain the skills needed to live stable, economically secure lives and be active and engaged members of their local communities. Organizations who steward the block grant in their local service territories have helped set the foundations for individuals and communities to flourish and thrive. Our agency has chosen to adopt food security and agricultural services as a foundational pillar of community health and vitality. Food security work is not simply concerned with the availability of food, but it is also concerned with the nutritional health of that food and how it contributes to the ability of a human being to grow and flourish. We believe that food, farms, and farmers are not only foundational to an individual’s ability to grow and flourish, but also to community health and prosperity. Representative G.T. Thompson’s interest in both agriculture and the Community Services Block Grant speaks to his leadership in these areas and his commitment to ensuring that communities across the nation maintain access to all the resources available that contribute to community and individual prosperity.” – Sandra Curry, Executive Director, Community Partnership, Inc.

“Congressman Thompson has been a steadfast advocate for Community Action, Inc. and the vital work we do to assist low-income individuals striving for self-sufficiency. His leadership as Vice Chair of the Congressional Community Action Caucus and his dedication to reauthorizing and improving the Community Services Block Grant Program demonstrate his unwavering commitment to fighting poverty. Congressman Thompson’s community-oriented approach, including his active participation in local events and openness to discussing collaborative projects, highlights his role as a true friend of the community. His efforts to expand resources and eligibility for CSBG ensure that the essential services we provide like emergency shelter, weatherization, food assistance and veteran housing assistance remain accessible to those who work hard but need a helping hand. His bipartisan advocacy continues to strengthen the foundation of Community Action, Inc. and uplift countless lives.” – Misty Fleming, CEO, Community Action, Inc.

ABOUT THE BILL
The Community Services Block Grant Improvement Act of 2025 will reauthorize this critical program for ten years and make long-overdue updates to improve federal efforts to reduce poverty. Updates to the CSBG program include:
- Reauthorizing the CSBG Act for 7 years and increases the resources available to CAAs to fulfill the program’s mission
- Permanently raising income eligibility for participation in the CSBG program to 200 percent of the poverty line, which is the current, temporary threshold for the program
- Increasing transparency and accountability for federal CSBG dollars, ensuring states and CAAs are maximizing federal investments
- Authorizing a Broadband Navigator Program to respond to the broadband and digital needs of low-income families and communities
- Requiring federal and state training and technical assistance to be responsive to local economic conditions, including natural disasters, that may create economic insecurity
To read the full bill text, click here.

MIL OSI USA News –
May 15, 2025
MIL-OSI USA: Pelosi, Democratic Women’s Caucus to Committee Republicans: Don’t Cut Medicaid and SNAP, Stand with Women and Families

Source: United States House of Representatives – Congresswoman Nancy Pelosi Representing the 12th District of California

Washington, D.C. — Yesterday, Speaker Emerita Nancy Pelosi joined 42 Democratic Women’s Caucus members led by DWC Chair Teresa Leger Fernández (NM-03), Vice Chair Emilia Sykes (OH-13), and Policy Task Force Co Chair Deborah K. Ross (NC-02) in sending a letter to the Republican Members of the House Energy and Commerce, Ways and Means, and Agriculture Committees. The letter urged Republicans to stand with women and families by protecting Medicaid, SNAP, and other programs women and families need to thrive in their budget.

In the letter, sent Monday evening ahead of markups this week, DWC members explained why Medicaid and SNAP are so important for women and families across America, and how devastating these cuts will be to women already struggling to put food on the table or provide for their families:

“62% of SNAP households serving children are headed by a single adult, of which 92% were headed by women. We have a simple question for you: will you stand with single moms trying to feed their kids or with billionaires? Cuts to SNAP could steal food from the mouths of 11 million children ages 5 to 17; 4.4 million children under the age of 5; and 7.8 million seniors ages 60 and older. With rising grocery prices, this devastation will be felt even harder.”

…

“Ripping health care away from pregnant women and closing down rural hospitals under the guise of ‘eliminating waste, fraud, and abuse’ is nothing but a poor excuse for abandoning women, babies, and your duty as a Member of Congress. There are many ways to reduce fraud and keep women safe–we call on you to protect women and babies by voting against any and all cuts to Medicaid and other essential health programs.”

The Members also called on Republicans to “consider the experiences of your constituents who are navigating increasing costs while raising a family and preserve or increase the Child Tax Credit to help women and families.”

The full letter can be accessed here.

MIL OSI USA News –

May 15, 2025
MIL-OSI USA: Cornyn, Senate Colleagues, Gonzales Introduce Bill to Combat Devastating Screwworm Outbreak

US Senate News:

Source: United States Senator for Texas John Cornyn
WASHINGTON – U.S. Senators John Cornyn (R-TX), Ted Cruz (R-TX), and Ben Ray Luján (D-NM) and Congressman Tony Gonzales (TX-23) today introduced the Strengthening Tactics to Obstruct the Population of Screwworms (STOP Screwworms) Act, which would authorize funds for and direct the U.S. Department of Agriculture (USDA) to begin construction on a new sterile fly production facility to combat the growing New World screwworm (NWS) outbreak that threatens to wreak havoc on the American cattle industry:
“Combatting the destructive New World screwworm is vital to protecting our cattle, Texas producers, and the American livestock industry as a whole,” said Sen. Cornyn. “I am proud to lead this legislation to create a new facility dedicated to pushing these pests away from our border and will continue to work with Secretary Rollins and agriculture leaders across the state to ensure our farmers, ranchers, and producers have the resources they need.”
“Texas agriculture and livestock are a core part of the Texas economy, and they feed America and the world,” said Sen. Cruz. “I’m working daily with Secretary Rollins, Texas authorities, and my colleagues in Congress to safeguard Texas from threats including the New World Screwworm, and pushing Mexico to implement their commitments to eradication. This bill will advance those efforts, and Congress should pass it.”
“Given the current screwworm outbreak, Congress must take immediate action to help protect New Mexico’s cattle and livestock from this growing threat,” said Sen. Luján. “This bipartisan legislation will fund a new sterile fly facility to help stop the spread of the destructive New World screwworm and protect New Mexico’s 1.4 million cattle and calves. This is a critical investment that supports over 10,000 cattle farms and ranches in New Mexico, saves the U.S. livestock industry nearly $1 billion each year, and helps prevent an outbreak in the U.S.”
“Ag producers across America are sounding the alarm—the New World Screwworm is making a comeback, and our livestock industry is in real danger. We need to fully eradicate this pest before it’s too late,” said Rep. Gonzales. “The STOP Screwworms Act provides dedicated resources to do just that. By authorizing the construction of a new sterile fly facility in the United States, we reduce our dependence on Latin American partners for eradication efforts and take matters into our own hands.”
Additional cosponsors of this legislation include Sens. Martin Heinrich (D-NM) and Cindy Hyde-Smith (R-MS).
Background:
The New World screwworm (NWS) is a parasitic fly whose larvae feed on livestock, wildlife, and in rare cases, humans, and populations are moving toward the United States at an alarming rate. They can cause serious damage to their host, including death. This week, the USDA announced the suspension of live cattle, horse, and bison imports through the southern border in response to the growing spread of the NWS and recent outbreaks in Mexico.
This new facility would produce sterile male screwworm flies that would be released into infested areas to help combat the growth of the screwworm population. The sterile fly technique was instrumental in eradicating NWS from the United States in the 1960s and from Mexico in the ‘90s, as sterile male flies can outcompete local populations and effectively wipe out an entire generation of screwworms in a given area.
This legislation is endorsed by the American Farm Bureau Federation, the Texas Farm Bureau, the Texas Cattle Feeders Association, the Texas and Southwestern Cattle Raisers Association, and the South Texans’ Property Rights Association.

MIL OSI USA News –

May 15, 2025
MIL-OSI USA: Cornyn Op-Ed: Getting Tough on Water Treaty

US Senate News:

Source: United States Senator for Texas John Cornyn
WASHINGTON – U.S. Senator John Cornyn (R-TX) authored the following op-ed in The Monitor praising the Trump administration for prioritizing the push for Mexico to live up to its obligations under the 1944 Water Treaty and previewing his next steps in the fight to bring relief to the South Texas agriculture community.
Getting Tough on Water Treaty
Senator Cornyn
The Monitor
May 13, 2025
https://myrgv.com/opinion/2025/05/13/commentary-getting-tough-on-water-treaty/
The Rio Grande Valley is home to farmers and ranchers who supply the nation’s grocery stores and represent billions of dollars in economic activity. In 1944, Mexico and the United States made an agreement to share the waters of the Rio Grande. Under this treaty, Mexico and the U.S. agreed to deliver set amounts of water every five years to one another. While that may seem straightforward, this deeply flawed agreement has the Lone Star State’s tensions with Mexico at a tipping point, and I’m working with the Donald Trump administration to get this fixed and protect Texas agriculture.
While the United States and Texas have kept their side of the agreement, faithfully delivering water from the Colorado River to Mexico as set out in the treaty, Mexico has been delinquent. They’ve not met their full obligations in years. Four years into the current five-year cycle, Mexico a balance of more than 60% of their five-year water delivery obligation outstanding and due in just over six months.
As the senior senator from Texas, I’ve been using every lever at my disposal to hold Mexico accountable. I’ve worked with the Appropriations Committee here in the Senate to prohibit funds from going to Mexico until they hold up their end of the bargain. Unfortunately, Senate Democrats blocked this effort.
I secured provisions that authorized block grants to provide relief to South Texas farmers and ranchers who are affected by water shortages. While these grants offered some relief, the White House has the ultimate authority to enforce the treaty and hold Mexico accountable.
The Joe Biden administration’s response epitomized its weak posture on foreign policy. I demanded that the State Department put pressure on Mexico to fulfill their obligations. I hosted multiple calls with Secretary Anthony Blinken, urging him to listen to what Texans were experiencing and hold Mexico accountable for failing to meet their treaty obligations. But the Biden administration didn’t care. In characteristic ineptitude on the world stage, President Biden and Secretary Blinken did nothing to hold Mexico accountable.
Thankfully, under President Trump we have an entirely new landscape. Last month, thanks to President Trump, Agriculture Secretary Brooke Rollins, Secretary of State Marco Rubio and Deputy Secretary of State Christopher Landau, Mexico has finally agreed to start making deliveries again. This much-needed development will make a difference for South Texas farmers. But while this is an important step in the right direction, I will not consider this work finished until Mexico is making consistent water deliveries.
Nothing short of annual water deliveries will fulfill Mexico’s obligations to the United States. Mexico must give one-fifth of the required water every year in order to meet the 1.7 million acre-feet quota and give South Texas farmers and ranchers the predictability they need.
Given Mexico’s current water shortages, it is unlikely that they will meet this total requirement by the end of the cycle, and they can’t blame Mother Nature for their failure to plan. Furthermore, even if they could suddenly deliver the required amount left before time runs out, this would not make Texas farmers whole.
Consider how farming works. Farmers cannot go four years without irrigating their crops, and suddenly make up for it in year five when their fields are dry and decimated. Cattle and other livestock won’t last long without water, either. This is exactly what Mexico has been doing to South Texas farmers, and it is unacceptable.
I will continue to push this issue in the Senate until South Texas farmers are receiving the water they deserve. My efforts will include introducing legislation and holding a hearing in the Senate Finance Subcommittee on International Trade, Customs, and Global Competitiveness, which I chair. I will also continue working with the Trump administration to strengthen the terms and enforcement of the treaty as part of the U.S.-Mexico-Canada Agreement review process.
The United States has kept our end of the treaty. Mexico must be held accountable until they have done the same. I will not stop fighting until Texas agriculture is receiving the predictable, yearly water deliveries that Mexico is obligated to provide.

MIL OSI USA News –

May 15, 2025
MIL-OSI Russia: Dmitry Patrushev: Epizootic well-being is the key to Russia’s food security

Translation. Region: Russian Federal

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

Deputy Prime Minister Dmitry Patrushev held a meeting of the permanent government anti-epizootic commission. The event was attended by the leadership of the Ministry of Agriculture, the Ministry of Natural Resources, Rosselkhoznadzor, Rospotrebnadzor, other relevant departments, as well as representatives of the regions.

“The President of Russia has set the task for the agro-industrial complex to significantly increase production volumes by 2030. This applies to all areas of the industry, including, of course, livestock farming. According to the plans of the Russian Ministry of Agriculture, meat production should increase to almost 20 million tons in six years. It is planned that milk volumes will exceed 38 million tons. One of the key factors in achieving these indicators is ensuring epizootic well-being. Systematic work is being carried out at all levels today to achieve this. In this way, we ensure food security for our country and increase the export potential of the Russian agro-industrial complex. I would like to separately note that thanks to the activities of Rosselkhoznadzor, including those related to the active implementation of digital control tools, Russia has established one of the world’s best practices for supervisory activities in the field of veterinary well-being,” said Dmitry Patrushev.

The Deputy Prime Minister noted that although the epizootic situation in the world remains difficult in 2025, the situation in Russia is stable. No outbreaks of African swine fever or bird flu have been recorded in the industrial sector.

Dmitry Patrushev emphasized that all preventive measures must be carried out locally in full compliance with veterinary safety requirements.

The meeting also discussed measures to prevent animal diseases in the wild.

Following the event, Dmitry Patrushev ordered that measures to prevent the spread of infections in the regions be strengthened and that control over the movement of animals and products be strengthened on all types of transport.

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 –

May 15, 2025
MIL-OSI China: Chinese vice premier urges all-out summer harvest efforts

Source: People’s Republic of China – State Council News

Chinese Vice Premier Liu Guozhong, also a member of the Political Bureau of the Communist Party of China Central Committee, makes arrangements for the summer harvest at the Ministry of Agriculture and Rural Affairs in Beijing, capital of China, May 14, 2025. [Photo/Xinhua]

BEIJING, May 14 — Chinese Vice Premier Liu Guozhong on Wednesday called for all-out efforts to ensure the summer harvest and consolidate the foundations of grain production.

Liu, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks while making arrangements for the summer harvest at the Ministry of Agriculture and Rural Affairs.

Liu noted that summer planting, harvesting and field management are crucial to meeting the whole year’s grain production target. He called for strengthened field management and meteorological monitoring and early warning during later stages of summer grain production.

He also urged the careful organization of summer grain purchases, and called for the connection between production and sales to be strengthened while guarding against natural disasters such as droughts, torrential rains, plant diseases and pests.

All relevant local authorities should shoulder their responsibilities and coordinate with one another to ensure summer harvest purchases, transportation and funds, the vice premier stressed.

MIL OSI China News –

May 15, 2025
MIL-OSI USA: Congressman Moran Votes to Advance the ‘One, Big, Beautiful’ Bill Out of the Ways and Means Committee
Source: Congressman Nathaniel Moran (R-TX-01)

Washington, D.C. – Congressman Nathaniel Moran (R-TX-01) and fellow Republicans on the House Ways and Means Committee voted today to advance their portion of the “One, Big, Beautiful Bill” after more than 17 hours of deliberation. This bill cuts taxes for individuals and businesses—protecting working Americans’ paychecks, reducing the burden of childcare and healthcare costs, and supporting small businesses—all in a united effort to strengthen the American dream.

Watch Congressman Moran’s Full Remarks HERE

At its core, this bill aims to be broad-based and to increase the liberty of every American by reducing taxation,” said Congressman Moran. “That’s the goal of the ‘One, Big, Beautiful Bill’ we’re advancing today—because when the tax rate goes down, liberty goes up for every American.”

For the past two years, House Republicans on the Ways and Means Committee have travelled across the country meeting with small business owners, farmers and ranchers, working families, and everyday Americans to ensure their voices are reflected in this legislation. That work culminated this week in the Committee’s markup of key tax provisions that will strengthen the backbone of America: working families, small businesses, and rural communities.

Congressman Moran also praised Ways and Means Chairman Jason Smith (R-MO-08) for his leadership on the Committee and his close collaboration with President Trump to align conservative tax policy with the America First agenda.

What’s at Stake for TX-01 if the Trump Tax Cuts Expire:
- The average TX-01 taxpayer would face a 24% tax hike if the Trump Tax Cuts expire at the end of 2025
- A family of four earning the median income of $62,182 would see a $1,142 tax increase—the equivalent of six weeks of groceries
- 83,600 TX-01 families would see their Child Tax Credit cut in half
- 93% of TX-01 taxpayers would lose half of their Guaranteed Deduction
- 41,330 small businesses would be hit with a 43.4% tax rate if the Section 199A small business deduction expires
- 12,193 family-owned farms would see their death tax exemption slashed in half
- 5,558 TX-01 taxpayers would again be impacted by the Alternative Minimum Tax
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MIL OSI USA News –
May 15, 2025
MIL-OSI USA: SBA Relief Available to Arkansas Small Businesses, Private Nonprofits and Residents Affected by Severe Storms and Tornadoes

Source: United States Small Business Administration

SACRAMENTO, Calif. – In response to a Presidential disaster declaration issued May 8, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to Arkansas small businesses, private nonprofit (PNP) organizations and residents affected by severe storms and tornadoes occurring March 14-15.

The disaster declaration covers the Arkansas counties of Greene, Hot Spring, Independence, Izard, Jackson, Lawrence, Randolph, Sharp, and Stone.

Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and PNPs impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

EIDLs are for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

Interest rates can be as low as 4% for small businesses, 3.62% for PNPs and 2.75% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

As soon as Federal-State Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants. Additional information and details on the location of disaster recovery centers is available by calling the SBA Customer Service Center at (800) 659-2955.

To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

###

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

MIL OSI USA News –

May 15, 2025

MIL-OSI: North American Construction Group Ltd. Announces Results for the First Quarter Ended March 31, 2025

Source: GlobeNewswire (MIL-OSI)

ACHESON, Alberta, May 14, 2025 (GLOBE NEWSWIRE) — North American Construction Group Ltd. (“NACG”) (TSX:NOA/NYSE:NOA) today announced results for the first quarter ended March 31, 2025. Unless otherwise indicated, financial figures are expressed in Canadian dollars, and comparisons are to the prior period ended March 31, 2024.

First Quarter 2025 Highlights:

Combined revenue of $391.5 million, the second-highest quarter in company history, compared favorably to $345.7 million in the same period last year and was driven equally by higher heavy equipment fleet commissioned in Australia and higher equipment utilization in Canada.
Reported revenue of $340.8 million, compared to $297.0 million in the same period last year, was driven primarily by increased capacity in Australia and a 68% utilization in Canada. However, lower utilization in Australia, due to the high number of rain days in February and March, far exceeding historical average, tempered overall performance.
Our net share of revenue from equity consolidated joint ventures was $50.7 million in 2025 Q1, compared to $48.7 million in the same period last year. While the Fargo project saw a quarter-over-quarter increase, this was offset by lower volumes within the Nuna Group of Companies and the discontinuation of the Brake Supply joint venture.
Adjusted EBITDA of $99.9 million was a slight increase of $2.5 million, or 3%, compared to the 2024 Q1 result of $97.4 million. However, the operational challenges of excessive rainfall in Australia and an extended bitter cold snap in Canada fully offset the 15% increase in revenue.
Combined gross profit of $51.6 million and margin of 13.2% declined compared to the $62.4 million and 18.1% metrics posted in the same period last year. The overall margin decrease reflects the specific impacts of rain and cold weather in Australia and Canada.
Cash flows generated from operating activities reached $51.4 million, exceeding the $19.0 million reported in the same period last year, primarily due to a lower working capital draw in the current quarter. Sustaining capital additions of $89.9 million reflect the front-loaded nature of our capital maintenance program in Canada.
Free cash flow resulted in a use of cash of $41.6 million in the quarter, driven by the consumption of $24.5 million by our working capital accounts. The working capital draw on cash remains directionally consistent to 2024 Q1 and aligns with the typical seasonal impacts of our annual business cycle.
Net debt was $867.5 million at March 31, 2025, an increase of $11.3 million from December 31, 2024, as free cash flow usage and growth spending required debt financing. The cash-related interest rate during the quarter on our debt was 6.2% due to Bank of Canada posted rates and the impact on equipment financing rates.
Additional highlights during and after the quarter: i) the Fargo-Moorhead flood diversion project passed the 65% completion mark prior to March 31; ii) successfully commenced the early development work at a copper mine in New South Wales; iii) first operational wins achieved under the new Finning parts and component supply and services agreement; iv) converted $73 million of debentures to 3.0 million common shares; and v) on May 1, completed $225 million of senior unsecured financing to increase liquidity as we advance efforts on heavy civil infrastructure and mining opportunities in Australia and North America.

Joe Lambert, President and CEO stated, “It’s no surprise that severe weather impacts our business, and Q1 2025 proved especially challenging across both geographies. However, we remain optimistic about the more stable conditions expected for the remainder of the year. Our full-year expectations remain intact, and we are eager to execute the contracted scopes for our customers. We continue to see significant opportunities and tailwinds in the heavy civil infrastructure and mining industries in Australia and North America and are diligently advancing efforts to secure new scopes, leveraging our strong reputation in these regions.”

Consolidated Financial Highlights

	Three months ended
	March 31,
(dollars in thousands, except per share amounts)		2025			2024		Change
Revenue	$	340,833		$	297,026		$	43,807
Cost of sales⁽ⁱ⁾		242,228			195,670			46,558
Depreciation⁽ⁱ⁾		60,714			47,862			12,852
Gross profit⁽ⁱ⁾	$	37,891		$	53,494		$	(15,603	)
Gross profit margin^(i)(ii)		11.1	%		18.0	%	(6.9		)%
General and administrative expenses (excluding stock-based compensation)⁽ⁱⁱ⁾		11,090			10,835			255
Stock-based compensation (benefit) expense		(3,408	)		3,608			(7,016	)
Operating income⁽ⁱ⁾		30,582			38,480			(7,898	)
Interest expense, net		13,516			15,597			(2,081	)
Net income⁽ⁱ⁾		6,163			11,511			(5,348	)
Comprehensive income⁽ⁱ⁾		6,641			10,818			(4,177	)

Adjusted EBITDA^(i)(ii)		99,932			97,386			2,546
Adjusted EBITDA margin^(i)(ii)(iii)		25.5	%		28.2	%	(2.7		)%

Per share information
Basic net income per share	$	0.22		$	0.43		$	(0.21	)
Diluted net income per share	$	0.21		$	0.39		$	(0.18	)
Adjusted EPS⁽ⁱⁱ⁾	$	0.52		$	0.79		$	(0.27	)

⁽ⁱ⁾The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.
⁽ⁱⁱ⁾See “Non-GAAP Financial Measures”.
⁽ⁱⁱⁱ⁾Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.

	Three months ended
	March 31,
(dollars in thousands)		2025			2024
Consolidated Statements of Cash Flows
Cash provided by operating activities⁽ⁱ⁾	$	51,418		$	18,959
Cash used in investing activities⁽ⁱ⁾		(93,781	)		(66,095	)
Effect of exchange rate on changes in cash		(1,075	)		(99	)
Add back of growth and non-cash items included in the above figures:
Growth capital additions⁽ⁱⁱ⁾		28,066			19,607
Capital additions financed by leases⁽ⁱⁱ⁾		(26,203	)		(14,156	)
Free cash flow⁽ⁱ⁾	$	(41,575	)	$	(41,784	)

⁽ⁱ⁾The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.
⁽ⁱⁱ⁾See “Non-GAAP Financial Measures”.

Declaration of Quarterly Dividend

On May 14th, 2025, the NACG Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on June 4, 2025. The Dividend will be paid on July 11, 2025, and is an eligible dividend for Canadian income tax purposes.

Resignation of Vanessa Guthrie

Effective May 14, 2025, Dr. Vanessa Guthrie, AO, resigned from her position as a director of NACG for personal reasons. Martin Ferron, Chair of the Board, stated “We wish to extend our sincerest thanks to Dr. Guthrie for the insight and perspectives she brought to the company during what was an important transitional period for us as we expanded operations into Australia. We wish her all the best in the future.”

Results for the Three Months Ended March 31, 2025

Revenue of $340.8 million represented a $43.8 million (or 15%) increase from 2024 Q1 as Heavy Equipment – Australia and Heavy Equipment – Canada were up 18% and 13%, respectively.

Revenue within Heavy Equipment – Australia, which is primarily comprised of the MacKellar Group (“MacKellar”), increased $23.8 million quarter-over-quarter primarily due to a 25% increase in the large capacity heavy equipment fleet over the past twelve months. This fleet increase was offset by the 12% decrease in equipment utilization (68% versus 2024 Q1 of 80%) as the high number of rain days experienced in both February and March well exceeded historical averages and operational expectations. The Carmichael mine was significantly affected by rain, receiving over 340 mm of rainfall over the two months, nearly double the historical average and our forecast of 180 mm. Excessive rainfall caused the slowdown of mining activity and the parking of the large capacity heavy mining equipment due to flooding of the lower lying mining areas as well as certain mine, access and service roads requiring additional maintenance.

Equipment utilization in the oil sands region of 68% drove a 13% increase from 2024 Q1 in the Heavy Equipment – Canada segment. Demand for large capacity heavy equipment was strong for the full quarter, with top-line performance constrained only by extended periods of cold weather and mechanical availability. The Millennium mine currently has approximately 40% of our fleet operating on site and is the primary driver of both equipment utilization and top-line revenue.

Combined revenue in the quarter of $391.5 million, the second-highest quarter in company history, represented a $45.8 million (or 13%) increase from 2024 Q1. Our share of revenue generated in the quarter by joint ventures and affiliates was $50.7 million, compared to $48.7 million in 2024 Q1 (an increase of 4%) with quarter-over-quarter increases in the Fargo project offset by lower volumes within the Nuna Group of Companies (“Nuna”) as well as the termination of the Brake Supply Joint Venture which occurred in the latter half of 2024. The Fargo project progressed past the 65% completion mark during the quarter with the modest top-line revenue reflecting the expected impact of winter conditions on civil earth-moving scopes.

Adjusted EBITDA of $99.9 million was a slight increase of $2.5 million, or 3%, from the 2024 Q1 result of $97.4 million as the operational challenges of excessive rainfall in Australia and a bitter extended cold snap in Canada fully offset the 15% increase in revenue. The adjusted EBITDA margin of 25.5% was lower compared to the previous quarter, primarily due to the challenging weather conditions in both segments, which affected operational efficiency. 2024 Q1, which experienced typical seasonal conditions, posted a 28.2% adjusted EBITDA margin with the approximate 3.0% variance being a fair reflection of the weather’s impact to 2025 Q1.

Excessive rainfall in Australia in February and March impacted operating margins with the Carmichael mine being the most affected in terms of the sheer quantity of rainfall experienced in those two months. Steady margin performance depends on the continuous operation of the primary fleet of large capacity heavy mining equipment. When this equipment is parked due to weather or other interruptions, not only is top-line revenue constrained, but it also becomes an opportune time to perform certain maintenance activities. While these activities support longer-term equipment reliability and utilization, they can increase costs, impacting margins in the current quarter. Additionally, rain days contribute to further cost pressures, as they introduce expenses not typically incurred during normal operations, such as site cleanup, dewatering, and related weather recovery efforts.

Based on historical precedent, gross margins at that site were over 10% lower than operational expectation and drove the decrease in gross profit margin in this segment from 24.7% in 2024 Q1 to 16.1% in 2025 Q1.

The extreme cold snap in the oil sands region in February impacted operating margins with all five operating sites being equally affected. This segment gross profit margin of 5.5% was impacted significantly by this cold weather with the correlated high idle time and required additional cost incurred to operate at frigid temperatures for an extended period of time. Using 2024 Q1 and 2023 Q1 as reasonable benchmarks, it is estimated that the cold weather impacted gross profit margin by approximately 5.0% to 7.0%. In addition to the weather, extraordinary early component failures related to the now discontinued component supply agreement with a third-party vendor impacted margins by $4.3 million in the quarter.

Depreciation of our equipment fleet was 17.8% of revenue in the quarter, compared to 16.1% in 2024 Q1. The Heavy Equipment – Canada fleet averaged approximately 24.0% of revenue due to required high idle time in February. This is offset by depreciation on the Heavy Equipment – Australia fleet, which averaged approximately 12.4% of revenue, largely driven by MacKellar depreciation of 13.0% of revenue in the quarter. On a combined basis, depreciation averaged 17.1% of combined revenue in the quarter, compared to 15.0% in 2024 Q1, due to high depreciation experienced in Canada during the quarter.

General and administrative expenses (excluding stock-based compensation) were $11.1 million, or 3.3% of revenue, compared to $10.8 million, or 3.6% of revenue, in 2024 Q1. Cash related interest expense incurred on our debt for the quarter was $12.9 million at an average cost of debt of 6.2%, compared to 8.1% in 2024 Q1, as rate decreases posted by the Bank of Canada directly impact our Credit Facility and have a delayed impact on the rates for secured equipment-backed financing.

Adjusted earnings per share (“EPS”) of $0.52 and adjusted net earnings of $14.5 million were down 34.2% and 31.0% from the prior year figures of $0.79 and $21.0 million, respectively. The $6.5 million decrease in adjusted net earnings is due to the slightly higher EBITDA being more than offset by the higher depreciation expenses, as discussed above, as well as higher interest expenses associated with the fleet acquired and debt assumed upon acquisition of MacKellar.

Adjusted earnings per share (“EPS”) of $0.52 was down $0.27 per share from the prior year figure of $0.79 per share primarily from the factors mentioned above. Weighted-average common shares outstanding for the first quarters of 2025 and 2024 were 27,859,886 and 26,733,473, respectively.

Between January 29 and February 28, 2025, approximately 3.0 million common shares were issued to convertible debenture holders for a value of $72.7 million and which contributed approximately $0.02 in the aforementioned quarter-over-quarter adjusted earnings per share variance of $0.27 per share.

Free cash flow was a use of cash of $41.6 million in the quarter primarily due to the consumption of $24.5 million by our working capital accounts. The working capital draw on cash is directionally consistent to 2024 Q1 and is comparable with past seasonal impacts of our annual business cycle. Adjusted EBITDA generated $99.9 million and when factoring in sustaining capital additions ($89.9 million) and cash interest paid ($16.2 million), $6.2 million of cash was used by the overall business in the quarter.

Business Updates

2025 Strategic Focus Areas

Safety – maintain our uncompromising commitment to health and safety while elevating the standard of excellence in the field, particularly with regards to front-line leadership training;
Operational excellence – put into action practical and experienced-based protocols to ensure predictable high-quality project execution in Australia;
Execution – enhance equipment availability in Canada through improved fleet maintenance, equipment telematics and reliability programs, technical improvements and management systems;
Integration – utilize recently implemented ERP at MacKellar Group to optimize business processes to lower overall costs and improve working capital management;
Organic growth – based on strong site operating performance, leverage customer satisfaction to earn contract extensions and expansions
Diversification – pursue diversification of customers and resources through strategic partnerships, industry expertise and investment in Indigenous joint ventures; and
Sustainability – further develop and deliver into our environmental, social, and governance goals.

Liquidity

Our current liquidity positions us well moving forward to fund organic growth and the required correlated working capital investments. Including equipment financing availability and factoring in the amended Credit Facility agreement, total available capital liquidity of $198.5 million includes total liquidity of $147.2 million and $32.9 million of unused finance lease borrowing availability as at March 31, 2025. Liquidity is primarily provided by the terms of our $524.7 million credit facility which allows for funds availability based on a trailing twelve-month EBITDA as defined in the agreement, and is now scheduled to expire in May 2028.

	March 31, 2025			December 31, 2024
Cash	$	78,241		$	77,875
Credit Facility borrowing limit		524,675			522,550
Credit Facility drawn		(421,702	)		(395,844	)
Letters of credit outstanding		(33,998	)		(33,992	)
Cash liquidity⁽ⁱ⁾	$	147,216		$	170,589
Finance lease borrowing limit		400,000			400,000
Other debt borrowing limit		20,000			20,000
Equipment financing drawn		(310,362	)		(253,639	)
Guarantees provided to joint ventures		(58,314	)		(61,675	)
Total capital liquidity⁽ⁱ⁾	$	198,540		$	275,275

⁽ⁱ⁾See “Non-GAAP Financial Measures”.

Subsequent to the three months ended March 31, 2025, on April 25, 2025, we announced that we entered into an underwriting agreement to sell, pursuant to a private placement offering, $225 million aggregate principal amount of 7.75% Senior Unsecured Notes due May 1, 2030 (the “Notes”). The agreement closed on May 1, 2025. The Notes were issued at a price of $1,000 per $1,000 of Notes. The Notes will accrue interest at the rate of 7.75% per annum, payable in cash in equal payments semi-annually in arrears each November 1 and May 1, commencing on November 1, 2025. We intend to use the net proceeds of the Offering to repay indebtedness under our existing Credit Agreement, and for general corporate purposes.

NACG’s outlook for 2025

The following table provides projected key measures for 2025. These measures are predicated on contracts currently in place, including expected renewals, and the heavy equipment fleet that we own and operate.

Key measures		2025
Combined revenue⁽ⁱ⁾		$1.4 – $1.6B
Adjusted EBITDA⁽ⁱ⁾		$415 – $445M
Sustaining capital⁽ⁱ⁾		$180 – $200M
Adjusted EPS⁽ⁱ⁾		$3.70 – $4.00
Free cash flow⁽ⁱ⁾		$130 – $150M

Capital allocation
Growth spending⁽ⁱ⁾		$65 – $75M
Net debt leverage⁽ⁱ⁾		Targeting 1.7x

⁽ⁱ⁾See “Non-GAAP Financial Measures”.

Conference Call and Webcast

Management will hold a conference call and webcast to discuss our financial results for the quarter ended March 31, 2025, tomorrow, Thursday, May 15, 2025, at 7:00 am Mountain Time (9:00 am Eastern Time).

The call can be accessed by dialing:
Toll free: 1-800-717-1738
Conference ID: 42703

A replay will be available through June 12, 2025, by dialing:
  Toll Free: 1-888-660-6264
  Conference ID: 42703
  Playback Passcode: 42703

The Q1 2025 earnings presentation for the webcast will be available for download on the company’s website at www.nacg.ca/presentations/

The live presentation and webcast can be accessed at:

https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=5E415713-29A1-4D60-A023-BF0345BED32F

A replay will be available until June 12, 2025, using the link provided.

Basis of Presentation

We have prepared our consolidated financial statements in conformity with accounting principles generally accepted in the United States (“US GAAP”). Unless otherwise specified, all dollar amounts discussed are in Canadian dollars. Please see the Management’s Discussion and Analysis (“MD&A”) for the quarter ended March 31, 2025, for further detail on the matters discussed in this release. In addition to the MD&A, please reference the dedicated Q1 2025 Results Presentation for more information on our results and projections which can be found on our website under Investors – Presentations.

Change in significant accounting policy – Classification of multi-use tires

Effective in the first quarter of 2025, we have changed our accounting policy for the classification of multi-life tires. These tires are now recognized as property, plant, and equipment on the Consolidated Balance Sheets and are amortized through depreciation on the Consolidated Statements of Operations and Comprehensive Income. Previously, multi-life tires were classified as inventories and expensed through cost of sales when placed into service. This change in accounting policy provides a more accurate reflection of the role of multi-life tires as components of the heavy equipment in which they are utilized, aligning the accounting treatment with the economic substance of their use.

We have applied this change retrospectively in accordance with Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections, by restating the comparative period. For further details regarding the retrospective adjustments, refer to Note 16 in the consolidated financial statements for the period ended March 31, 2025.

Forward-Looking Information

The information provided in this release contains forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words “anticipate”, “believe”, “expect”, “should” or similar expressions.

The material factors or assumptions used to develop the above forward-looking statements include, and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the MD&A for the three months ended March 31, 2025. Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG’s control. Undue reliance should not be placed upon forward-looking statements and NACG undertakes no obligation, other than those required by applicable law, to update or revise those statements. For more complete information about NACG, please read our disclosure documents filed with the SEC and the CSA. These free documents can be obtained by visiting EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.com.

Non-GAAP Financial Measures

This press release presents certain non-GAAP financial measures because management believes that they may be useful to investors in analyzing our business performance, leverage and liquidity. The non-GAAP financial measures we present include “adjusted EBIT”, “adjusted EBITDA”, “adjusted EBITDA margin”, “adjusted EPS”, “adjusted net earnings”, “capital additions”, “capital work in progress”, “cash liquidity”, “cash provided by operating activities prior to change in working capital”, “cash related interest expense”, “combined gross profit”, “combined gross profit margin”, “equity investment depreciation and amortization”, “equity investment EBIT”, “free cash flow”, “general and administrative expenses (excluding stock-based compensation)”, “gross profit margin”, “growth capital”, “margin”, “net debt”, “net debt leverage”, “sustaining capital”, “total capital liquidity”, “total combined revenue”, and “total debt”. A non-GAAP financial measure is defined by relevant regulatory authorities as a numerical measure of an issuer’s historical or future financial performance, financial position or cash flow that is not specified, defined or determined under the issuer’s GAAP and that is not presented in an issuer’s financial statements. These non-GAAP measures do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Each non-GAAP financial measure used in this press release is defined and reconciled to its most directly comparable GAAP measure in the “Non-GAAP Financial Measures” section of our Management’s Discussion and Analysis filed concurrently with this press release.

Reconciliation of total reported revenue to total combined revenue

	Three months ended
	March 31,
(dollars in thousands)		2025			2024
Revenue from wholly-owned entities per financial statements	$	340,833		$	297,026
Share of revenue from investments in affiliates and joint ventures		136,237			125,838
Elimination of joint venture subcontract revenue		(85,566	)		(77,151	)
Total combined revenue⁽ⁱ⁾	$	391,504		$	345,713

⁽ⁱ⁾See “Non-GAAP Financial Measures”.

Reconciliation of reported gross profit to combined gross profit

	Three months ended
	March 31,
(dollars in thousands)		2025		2024
Gross profit from wholly-owned entities per financial statements	$	37,891	$	53,494
Share of gross profit from investments in affiliates and joint ventures		13,677		8,935
Combined gross profit^(i)(ii)	$	51,568	$	62,429

⁽ⁱ⁾See “Non-GAAP Financial Measures”.
⁽ⁱⁱ⁾The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

Reconciliation of net income to adjusted net earnings, adjusted EBIT and adjusted EBITDA

	Three months ended
	March 31,
(dollars in thousands)		2025			2024
Net income⁽ⁱ⁾	$	6,163		$	11,511
Adjustments:
Stock-based compensation (benefit) expense		(3,408	)		3,608
(Gain) loss on disposal of property, plant and equipment		(974	)		261
Change in fair value of contingent obligations from adjustments to estimates		(1,317	)		1,438
Loss on derivative financial instruments		6,912			—
Equity investment loss on derivative financial instruments		1,019			1,954
Equity investment restructuring costs		—			4,517
Depreciation expense relating to early component failures		4,274			—
Post-acquisition asset relocation and integration costs		1,640			—
Tax effect of the above items		208			(2,260	)
Adjusted net earnings^(i)(ii)		14,517			21,029
Adjustments:
Tax effect of the above items		(208	)		2,260
Interest expense, net		13,516			15,597
Equity investment EBIT⁽ⁱⁱ⁾		3,310			(3,768	)
Equity (earnings) loss in affiliates and joint ventures		(3,283	)		1,512
Change in fair value of contingent obligations		4,347			3,955
Income tax expense		4,244			4,467
Adjusted EBIT^(i)(ii)		36,443			45,052
Adjustments:
Depreciation⁽ⁱ⁾		60,714			47,862
Amortization of intangible assets		601			310
Depreciation expense relating to early component failures		(4,274	)		—
Equity investment depreciation and amortization⁽ⁱⁱ⁾		6,448			4,162
Adjusted EBITDA^(i)(ii)	$	99,932		$	97,386
Adjusted EBITDA margin^(i)(ii)(iii)		25.5	%		28.2	%

Reconciliation of equity earnings in affiliates and joint ventures to equity investment EBIT

	Three months ended
	March 31,
(dollars in thousands)		2025			2024
Equity (loss) earnings in affiliates and joint ventures	$	3,283		$	(1,512	)
Adjustments:
Loss (gain) on disposal of property, plant and equipment		2			(175	)
Interest income		(29	)		(573	)
Income tax expense (benefit)		54			(1,508	)
Equity investment EBIT⁽ⁱ⁾	$	3,310		$	(3,768	)

⁽ⁱ⁾See “Non-GAAP Financial Measures”.

About the Company

North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

For further information contact:

Jason Veenstra, CPA, CA
Chief Financial Officer
North American Construction Group Ltd.
(780) 960-7171
IR@nacg.ca
www.nacg.ca

Interim Consolidated Balance Sheets

(Expressed in thousands of Canadian Dollars)
(Unaudited)

	March 31, 2025			December 31, 2024⁽ⁱ⁾
Assets
Current assets
Cash	$	78,241		$	77,875
Accounts receivable		186,850			166,070
Contract assets		19,676			4,135
Inventories		74,242			69,027
Prepaid expenses and deposits		6,523			7,676
Assets held for sale		782			683
		366,314			325,466
Property, plant and equipment, net of accumulated depreciation of $503,486 (December 31, 2024 – $500,303)		1,314,635			1,251,874
Operating lease right-of-use assets		11,539			12,722
Investments in affiliates and joint ventures		86,341			84,692
Intangible assets		10,072			9,901
Other assets		5,581			9,845
Total assets	$	1,794,482		$	1,694,500
Liabilities and shareholders’ equity
Current liabilities
Accounts payable	$	138,700		$	110,750
Accrued liabilities		59,454			78,010
Contract liabilities		6,734			1,944
Current portion of long-term debt		150,301			84,194
Current portion of contingent obligations		40,139			39,290
Current portion of operating lease liabilities		1,475			1,771
		396,803			315,959
Long-term debt		663,622			719,399
Contingent obligations		91,107			88,576
Operating lease liabilities		10,612			11,441
Other long-term obligations		42,792			44,711
Deferred tax liabilities		127,615			125,378
		1,332,551			1,305,464
Shareholders’ equity
Common shares (authorized – unlimited number of voting common shares; issued and outstanding – March 31, 2025 – 30,601,681 (December 31, 2024 – 27,704,450))		298,858			228,961
Treasury shares (March 31, 2025 – 1,004,074 (December 31, 2024 – 1,000,328))		(16,036	)		(15,913	)
Additional paid-in capital		20,856			20,819
Retained earnings		158,877			156,271
Accumulated other comprehensive loss		(624	)		(1,102	)
Shareholders’ equity		461,931			389,036
Total liabilities and shareholders’ equity	$	1,794,482		$	1,694,500

⁽ⁱ⁾The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

Interim Consolidated Statements of Operations and Comprehensive Income

(Expressed in thousands of Canadian Dollars, except per share amounts)
(Unaudited)

	Three months ended
	March 31,
		2025		2024⁽ⁱ⁾
Revenue	$	340,833		$	297,026
Cost of sales		242,228			195,670
Depreciation		60,714			47,862
Gross profit		37,891			53,494
General and administrative expenses		7,682			14,443
Amortization of intangible assets		601			310
(Gain) loss on disposal of property, plant and equipment		(974	)		261
Operating income		30,582			38,480
Interest expense, net		13,516			15,597
Equity (earnings) loss in affiliates and joint ventures		(3,283	)		1,512
Loss on derivative financial instruments		6,912			—
Change in fair value of contingent obligations		3,030			5,393
Income before income taxes		10,407			15,978
Current income tax expense		1,777			4,296
Deferred income tax expense		2,467			171
Net income	$	6,163		$	11,511
Other comprehensive income
Unrealized foreign currency translation (gain) loss		(478	)		693
Comprehensive income	$	6,641		$	10,818
Per share information
Basic net income per share	$	0.22		$	0.43
Diluted net income per share	$	0.21		$	0.39

⁽ⁱ⁾The prior year amounts are adjusted to reflect a change in policy. See “Accounting Estimates, Pronouncements and Measures”.

The MIL Network –

May 15, 2025

MIL-OSI Canada: Premier leading Asia trade mission to promote B.C. investment, support good jobs
Source: Government of Canada regional news
Premier David Eby is leading a trade mission to Asia with business leaders and key government officials to strengthen partnerships, increase investment, diversify trade and create good jobs for British Columbians.

“Our largest trading partner has become increasingly unreliable, so now is the time to expand international markets for B.C. goods and develop deeper bonds with other countries,” Premier Eby said. “This trade mission is about showcasing all that B.C. has to offer, deepening our relationship with major customers, supporting good jobs here at home and building our province’s position as the economic engine of a stronger and more independent Canada.”

The trade mission is from June 1 until June 10, and includes: Tokyo and Osaka, Japan; Kuala Lumpur, Malaysia; and Seoul, South Korea. Premier Eby will be accompanied by Lana Popham, Minister of Agriculture and Food, and Paul Choi, parliamentary secretary for Asia-Pacific trade, along with representatives from B.C. businesses and research universities.

“Farmers and food processers run an economic engine for the province, creating more than 40,000 jobs and nearly $6 billion in export sales every year,” Popham said. “I am excited to showcase the best of what B.C. has to offer on an international stage while opening up new opportunities for trade, growth and innovation.”

The team will be promoting B.C.’s strengths and seeking to build relationships that will support new trade and investment in key sectors, including surging demand in Asia for clean energy, B.C. wood and forestry products, technology, LNG and critical minerals, and agricultural products such as halal foods and seafood.

This mission builds on B.C.’s trade diversification strategy and is a followup to the Premier’s trade mission to the region in 2023. Over the 10-day trip, the Premier, minister and team will be meeting with government officials, business leaders and investors to discuss trade and partnership opportunities, as well as shared priorities in key sectors.

Itinerary:

June 1-5: Tokyo and Osaka, Japan
June 5-7: Kuala Lumpur, Malaysia
June 8-10: Seoul, South Korea

Quick Facts:

The Indo-Pacific is the world’s fastest-growing economic region, and by 2040 is expected to account for more than half the global economy.

More than 41% of B.C.’s merchandise exports – totalling approximately $22.4 billion in 2024 – are directed toward Indo-Pacific markets.

Japan and South Korea are B.C.’s third- and fourth-largest trading partners, with 17% of all B.C. merchandise exports going to those two markets.

Almost half of all Canadian exports to South Korea originate in B.C., and B.C.’s share of Canadian exports to Japan is more than 38%.

Learn More:
MIL OSI Canada News –
May 15, 2025
MIL-OSI USA: RELEASE: Senator Mullin Secures Commitment on Critical Infrastructure Improvements to the Port of Catoosa

US Senate News:

Source: United States Senator MarkWayne Mullin (R-Oklahoma)

RELEASE: Senator Mullin Secures Commitment on Critical Infrastructure Improvements to the Port of Catoosa

Washington, D.C. – On Tuesday, U.S. Senator Markwayne Mullin (R-OK), a member of the Senate Armed Services Committee, participated in the hearing, “To consider the nominations of: Mr. Richard L. Anderson to be Assistant Secretary of the Air Force for Manpower and Reserve Affairs; Mr. Adam R. Telle to be Assistant Secretary of the Army for Civil Works; and Dr. Matthew C. Napoli to be Deputy Administrator for Defense Nuclear Nonproliferation National Nuclear Security Administration.”
In his remarks, Senator Mullin detailed the importance of the Port of Catoosa and the critical infrastructure updates that are desperately needed. Mr. Telle, Assistant Secretary of the Army for Civil Works nominee, committed to addressing the issue.

The full committee hearing can be found here.
The exchange between Senator Mullin and Mr. Adam Telle, nominee to be Assistant Secretary of the Army for Civil Works, is below.
Sen. Mullin: “Mr. Telle, I want to talk to you about the Port of Catoosa. It’s a 445-mile channel that runs from essentially the Mississippi all the way up to the Port of Catoosa, which is the largest inland water port west of the Mississippi and on the Gulf of America. It also provides roughly 50% of all agricultural products that flow in and out of the Midwest, and it goes up to the Port of Catoosa, which is just outside of Tulsa. And from there, it gets on rails and trucks and gets trucked the rest of the way up. It was opened in 1971 and since roughly the 90s, we have talked about increasing the depth, because the amount of traffic that’s on it. Right now, it’s dredged at nine feet in depth, and it also has a critical backlog, which means that any of the levees could shut down at any given time, of increasing almost a billion dollars critical backlog needs.”
“The Port of Catoosa, for some reason continues to be treated like, this is not politically correct but whatever the red headed stepchild is, and other projects in Ohio or the Mississippi or other areas of waterways seem to get the most attention. However, the Midwest feeds the United States and many parts around the world, yet we’re in a critical situation here where we need to increase the depth of the channel from 9 feet to 12 feet. The study has been going on literally since the 90s. An additional study started again in 2005 and expired in roughly 2014. We could see a 40% increase in cargo influx into the port and out of the port for every foot we increase it. 40% increase cargo. Which would be drastically an improvement to what we deal with today. Not to mention the timing, the cost to get Ag products in and out of the Midwest, because as we hit the Mississippi, we actually change out of one barge to another barge that actually is obviously deeper and bigger for us to be able to navigate through the channel with.”
“My concern is that since the Corp has continued to overlook this, I’m looking for a commitment for you that you will actually take a hard look at this and understand that literally, the heartbeat of America, which is our Ag products, is in dire straits of being able to get products in and out. And if this navigation channel goes down, the cost is going to bring to all Americans’ tables, because it will increase in cargo. So, would you commit to helping us with this channel?”
Mr. Telle: “Senator Mullin, absolutely, I will. This is emblematic, the situation you described, in providing access for Oklahoma’s farmers and ranchers to the rest of the world through our waterways is emblematic of the Corp’s mission, which was originally to use our waterways for the benefit of the American public.”
“Your state’s so critical in getting the products from your state the world. And the opposite of that, getting the world’s products to you is critically important. I understand that this issue has been going on for a long time, affects the state of Arkansas as well. And certainly, as vessel traffic changes, the types of traffic change based on commercial patterns across the globe, we need to make sure that our infrastructure is up to date to meet it. And I look forward to doing everything we can to take a very hard look at this critical asset and make sure that we modernize it to the degree that we can.”
“And I would also, as you describe when we were in your office, the critical role that it plays in flood protection in that area as well. And you know, dredge material often can have a beneficial use in terms of building flood control infrastructure, levees and otherwise. So, I look forward to working with you on that and I commit to do my very best.”
Sen. Mullin: “Thank you. And I look forward to hosting you when we can get you there.”

MIL OSI USA News –

May 15, 2025
MIL-OSI USA: Senate Passes Tuberville-backed Resolution for National Police Week

US Senate News:

Source: United States Senator Tommy Tuberville (Alabama)
Resolution recognizes sacrifice of Alabama’s Jesse Cooper, Timothy W. Johns, Jermyius Young, and John R. McCrary
WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) joined 81 Senate colleagues in introducing a resolution to designate May 11-17, 2025, as National Police Week. The resolution also honors 234 fallen officers, including four from Alabama: Jesse Cooper of Jefferson County Sheriff’s Office, Timothy W. Johns of Tuscaloosa County Sheriff’s Office, Jermyius Young of Montgomery County Sheriff’s Office, and John R. McCrary of Lauderdale County Sheriff’s Office and Rogersville Police Office.
“Every day, our law enforcement officers put on their uniforms and leave their homes not knowing if they’ll return,” said Senator Tuberville. “Sadly, some of them have made the ultimate sacrifice to keep our communities safe. This resolution is just a small token of our appreciation for all our brave police officers. I will continue to back the men and women in blue and champion pro-police policies here in the Senate.”
Full text of the resolution can be found here.
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

MIL OSI USA News –

May 15, 2025

Category: Agriculture

“Spreading disinformation”

Symbols for dehumanization

Congressman Baird Applauds Passage of House Agriculture Committee’s Section of the One Big, Beautiful Bill