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Category: Americas

  • MIL-OSI Global: Ukraine peace talks: Trump is bringing Russia back in from the cold and ticking off items on Putin’s wish list

    Source: The Conversation – UK – By James Rodgers, Reader in International Journalism, City St George’s, University of London

    The meeting now underway in Saudi Arabia between senior delegations from the United States and Russia could be the first step towards an end to the war in Ukraine – and not just an end to the war. The New York Times has reported that the talks may cover issues beyond the battlefield, with the resumption of US-Russia business ties on the table, too.

    Whatever is discussed, Ukraine seems set to lose out.

    The same cannot be said of the long-term occupant of the Kremlin. For 20 years, Vladimir Putin has been working towards what Donald Trump has now given him. Ever since Putin bemoaned the collapse of the Soviet Union as “the greatest geopolitical catastrophe” of the 20th century, his foreign policy has been about getting back at least some of the superpower status the Soviet Union enjoyed.

    In one sense, the US president’s overture to Putin to discuss peace in Ukraine has given the Russian president exactly what he wanted: for Washington to treat Moscow with the respect – and perhaps even fear – that the Soviet Union once commanded from the west.

    And in that sense, Trump’s telephone call with the Kremlin represented a huge triumph for Putin. Putin now has a pending invitation back to the top table of world affairs. He has conceded not an inch of occupied Ukrainian territory to get there. Nor has he even undertaken to give back any of what Russian forces have seized since the full-scale invasion of Ukraine three years ago.

    Now his foreign minister, Sergei Lavrov, is talking to the US secretary of state, Marco Rubio. Meanwhile the annexation of Crimea in 2014 – which is when Russia’s war on Ukraine actually began – seems increasingly likely to be overlooked. The suggestion from the US defence secretary, Pete Hesgeth, last week that a return to Ukraine’s pre-2014 borders was “unrealistic” has made clear Washington’s current view on that.

    So far, so good for Putin, who sees the western alliance that has been ranged against him – albeit with varying degrees of enthusiasm and commitment – for the past three years beginning to crack.

    Under Trump, Washington’s policy on Ukraine is showing signs of significant divergence from that of the EU or UK. Putin no doubt sees his determination not to be cowed by western pressure as starting now to lead to longer-term success.



    Read more:
    Europe left scrambling in face of wavering US security guarantees

    Now the two leaders have agreed to meet – a complete reversal of the three years of increasing isolation during Joe Biden’s presidency. And, as we know, the first time the two leaders met for a summit, in Helsinki in 2018, Putin was widely seen as having outwitted Trump. As Trump’s then senior director for European and Russian Affairs, Fiona Hill, recalled in her memoir: “As Trump responded that he believed Putin over his own intelligence analysts, I wanted to end the whole thing.”

    Putin will hardly feel he enters any future negotiation as an underdog. Just by being there, to discuss the most pressing matter for the future of European security with the US president, Putin has achieved part of his long-term goal. Just as in the days of the Soviet Union, leaders from the Kremlin and the White House will meet to discuss European affairs as the preeminent powers on the continent.

    The views of Europeans themselves, especially Ukrainians, are secondary.

    Back to the top table

    If Putin’s 2005 lament for a lost superpower gave a clue to the course his time at the summit of Russian power would take, then he gave yet more clues on the eve of the full-scale invasion. In December 2021, Putin regretted the collapse of the Soviet Union once again.

    This time he said it had a significance far beyond the century in which it happened, saying: “We turned into a completely different country. And what had been built up over 1,000 years was largely lost.”

    Days later, with expectation growing that Russia was planning to invade Ukraine, the foreign ministry in Moscow published a document it called Treaty between The United States of America and the Russian Federation on security guarantees.

    The language chosen is striking today for the references it makes to the Soviet Union, as in article 4: “The United States of America shall undertake to prevent further eastward expansion of the North Atlantic Treaty Organization and deny accession to the Alliance to the States of the former Union of Soviet Socialist Republics.”

    The Biden administration dismissed the treaty as the trolling it represented. But Hegseth’s recent remark, “The United States does not believe that Nato membership for Ukraine is a realistic outcome of a negotiated settlement,” fits right in with Putin’s wish list.

    This is about Russia becoming the international heavyweight the Soviet Union once was. It is also about a turn of events that greatly favours Putin.

    For three years, I have been working on a book, The Return of Russia: From Yeltsin to Putin, the Story of a Vengeful Kremlin. My research included interviews with leading policymakers, among them Jens Stoltenberg, who served as secretary general of Nato between 2014 and 2024. When we spoke in September 2023, I took the opportunity to ask him how he saw the coming months in the war in Ukraine. He told me:

    Only the Ukrainians that can decide what is an acceptable solution. But the stronger they are on the battlefield, the stronger they will be on the negotiating table and therefore our responsibility is to support them … but it’s for Ukrainian to make the hard decisions on the battlefield. And of course at the end at the negotiating table.

    Trump’s démarche towards a deal appears to ignore that logic, and strengthens Putin’s hand before negotiations have even started.

    If it does lead to an end to the war now, there is nothing to say that Putin’s long view of history won’t encourage him to go to war again in a few years. And he’ll be better prepared to capture more territory than he has already in the last three blood-soaked years.

    James Rodgers does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Ukraine peace talks: Trump is bringing Russia back in from the cold and ticking off items on Putin’s wish list – https://theconversation.com/ukraine-peace-talks-trump-is-bringing-russia-back-in-from-the-cold-and-ticking-off-items-on-putins-wish-list-249982

    MIL OSI – Global Reports –

  • MIL-OSI Global: How to win an election? Focus on persuasion, not policy

    Source: The Conversation – Canada – By Robert Danisch, Professor, Department of Communication Arts, University of Waterloo

    Ontario residents will soon elect a new government, and Canadians should expect a federal election this spring.

    Elections matter. They are opportunities for democracies to enact the bedrock principle that leaders are accountable to the citizenry — and for citizens to examine how communication practices inhibit or enhance democratic life.

    For politicians, elections pose a specific, clear communication challenge: How does a politician persuade a voter?

    Persuade voters

    Success in an election requires persuasion. Too often, though, politicians misunderstand the process of persuasion. The most common mistake is to believe that explaining a specific policy proposal will influence voters.

    Ontario Liberal Leader Bonnie Crombie began her campaign, for example, touting platform doors for Toronto subway stops. This is a sure sign Crombie will fail to persuade a plurality of voters.

    Why? Because Crombie is mistakenly thinking about communication as a process of transmitting information — transmit the right information or policy idea and the public will nod in agreement. That’s not how communication works.

    Science communicators call this the “deficit model” of communication (the public lacks information; once they get it, they change their behaviour).

    Motivate voters; control the narrative

    There’s little evidence that information sharing is persuasive, and popular policy positions routinely fail to persuade voters (a casual look at the last presidential election in the United States demonstrates this). Politicians, of course, want to talk about policy, but policy is how one governs — not how one persuades.

    Politicians need to motivate voters, not inform them. Ancient orators like Demosthenes and Cicero knew this, as did former U.S. president Barack Obama and even authoritarian leaders like Hugo Chavez.

    Explaining policy positions is not how to win an election.

    Crombie’s proposal for platform edge doors reveals a deeper communication problem. A policy like this implies a frame, or a map, through which people are invited to see the world.

    Crombie’s policy proposal suggests that the world is a dangerous place. If we accept that frame, then we are likely to feel fear for our safety and imagine the government as our protector — this is the likely effect of her policy talk.

    This is exactly the frame that conservative politicians often promote. In elections, the party that controls the frame wins.

    The frame implied by any policy matters more than the content of the policy in an election. Another way to understand the power of language is to think of a simple phrase like “tax relief.” For years, left-leaning political parties have advocated for middle class “tax relief.”

    But this frame assumes that taxes are a burdensome infringement (the word “relief” signifies some burden that we need relief from). That is the assumption of right-leaning political parties.

    The more politicians on the left continue to portray taxes this way, the more persuasive the parties on the right become.

    Whose values?

    The important lesson here is that politicians need to have the conversation they want, not the conversation their opponents want. Donald Trump’s most powerful communication skill is forcing the media and his opponents onto his conversational terrain.

    Trump’s oppenent, Kamala Harris, tried to talk values. But her messaging was often too confusing, too complex and too varied to be persuasive, especially compared to Trump’s repetitive drumbeat of value-based accusations.

    Consider the broader frame that government’s job is to help the economy. Some have argued “the economy” is a fiction, a rhetorical construction that suits right-leaning political parties. Whenever the left advocates for a policy that intends to help “the economy” (a higher minimum wage, for example), they recirculate and reaffirm a conservative frame.



    Read more:
    Why Donald Trump’s words work, and what to do about it

    At the core of these frames are often a set of values: freedom is good, government can’t be trusted, the economy matters most. Messaging that focuses on why is much more effective than messaging that focuses on what and how.

    When politicians talk about values more than they provide information, they are more likely to get attention and cause reactions. Values talk — about what’s good or bad, right or wrong — tends to target the more primal, limbic part of our brain, which can cause people to feel motivated to act.

    Crombie, therefore, needs to explicitly articulate her values, why she is running for office, and make sure to implicitly frame any policy suggestion through attention to those values. Right now, she is implying conservative values through liberal policies — that won’t work.

    Stories reinforce the frame

    Values tend to come wrapped in the stories we tell about ourselves and our moment. Marshall Ganz, Harvard sociologist and community organizer, trained Barack Obama’s campaign volunteers in a form of storytelling, based on values, that was intended to motivate people.

    Good stories have villains and heroes, along with challenges or choices. Most importantly, good stories create a feeling of identification — a “we” that navigates a set of challenges or choices.

    Stories that make people feel hope, confidence, solidarity, anger and urgency are particularly adept at motivation. And these stories are also able to reinforce the frame through which we view the world, causing a story to “feel true” for voters even if it contains factual inaccuracies.

    The story that resonates most powerfully creates a sense of identification and makes a specific frame seem true drives electoral outcomes.

    Vision of the future

    The very best stories have a clear vision of the future. Too often politicians fixate on, and lament, problems. All of that problem talk can inhibit motivation. A clear picture of an ideal future shows the citizenry how a story ends.

    These imagined futures can be inspiring in ways that drive action. Painting a compelling tomorrow is a central part of political persuasion.

    These aspects of persuasion have been true for centuries. Our moment, however, adds a complicating element — our social media systems.

    Scholars of rhetoric have long known that repetition is persuasive. Social media amplifies the power of persuasion. This might not improve democratic decision-making, but politicians must still recognize how slogans, memes and sound bites all become the resources for repetition and the grounds in which specific frames or stories begin to dominate conversations.

    Controlling what gets repeated and using figures that are repeatable are necessary contemporary considerations.

    To be clear, if you want to win an election: control the frame, talk about values more than policy, tell a compelling story, paint a bright future, and find ways to repeat, repeat, repeat.

    Robert Danisch does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. How to win an election? Focus on persuasion, not policy – https://theconversation.com/how-to-win-an-election-focus-on-persuasion-not-policy-248733

    MIL OSI – Global Reports –

  • MIL-OSI: American Lamprecht Enhances Visibility for Air and Ocean Shipments Using Descartes Solution

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Georgia and AMERSFOORT, The Netherlands, Feb. 18, 2025 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Illinois-based freight forwarder American Lamprecht is providing its customers with real-time visibility into the location and status of their air and ocean shipments using Descartes’ shipment tracking capabilities, which are integrated with Descartes’ cloud-based forwarder enterprise billing and accounting solution.

    “Today’s customers expect to view the status of their shipments on-demand across all modes of transport,” said Patrick Imhof, CEO at American Lamprecht. “With Descartes’ advanced tracking, we can provide shippers with anytime, anywhere insights into shipment location and status at every stage of the air or ocean journey. This not only enhances customer service standards, but also allows us to reduce the time spent tracking shipments manually. Combined with the efficiency gains from the integration with our Descartes forwarder system, we’re better positioned to drive up overall service levels with more effective operations and higher-value productive time with customers.”

    As part of the Descartes Global Logistics Network™ (Descartes GLN™), one of the world’s most extensive logistics networks, Descartes’ advanced shipment tracking capabilities connect to a wide range of air and ocean carriers to populate Descartes OneView™ Forwarder Enterprise. An on-demand, multimodal forwarder back-office solution, Descartes OneView Forwarder Enterprise is used by thousands of forwarders and customs brokers as the foundation of their accounting, financial reporting and billing operations. Using the combined solution, logistics service providers, such as American Lamprecht, can automate ocean and air freight tracking with real-time visibility, predictive ETAs, intelligent alerts, and consolidated data from a single reliable source, enabling better decision-making and risk management.

    “We’re pleased to help American Lamprecht provide customers with easy access to real-time status information on air and ocean shipments by leveraging additional value offered by the Descartes OneView platform,” said Scott Sangster, General Manager, Logistics Services Providers at Descartes. “Whether for imports or exports, the combined solution helps logistics service providers drive much more efficient digital shipment workflows to better coordinate the movement of freight and boost customer service levels without adding labor.”

    About Descartes

    Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

    Global Media Contact
    Cara Strohack
    cstrohack@descartes.com

    Cautionary Statement Regarding Forward-Looking Statements

    This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ broker and forwarder enterprise system solution offerings and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes’ most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

    The MIL Network –

  • MIL-OSI: Matador Technologies Provides Updates on Recent Conference Attendance and Upcoming Industry Engagements

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA) announces its recent participation in key industry events and provides updates on upcoming engagements.

    Max & Stacy’s Bitcoin Golf Invitational – El Salvador

    Matador recently attended Max & Stacy’s Bitcoin Golf Invitational in El Salvador, an industry event focused on Bitcoin and blockchain developments. The conference facilitated discussions with industry participants, investors, and other stakeholders relevant to Matador’s Bitcoin treasury strategy.

    The Inaugural Crypto Ball – Washington, D.C.

    On January 17, Matador attended the inaugural Crypto Ball at the Andrew W. Mellon Auditorium in Washington, D.C. Hosted by BTC Inc. and co-hosted by Stand With Crypto, Exodus, Anchorage Digital, and Kraken. The event convened industry participants, policy stakeholders, and corporate sponsors, providing insights into evolving regulatory and market dynamics.

    AlphaNorth Capital Event – Bahamas

    On January 18-19, Matador participated in the AlphaNorth Capital Event in the Bahamas, hosted by Capital Event Management. The event facilitated meetings with investment professionals and discussions on emerging industry trends.

    Upcoming Industry Engagements

    AlphaNorth Capital Event – Whistler, Canada

    Matador will attend the 15th Annual Whistler Capital Event from February 21–23, 2025, hosted by Capital Event Management. The event will bring together companies and investment professionals for meetings and discussions on market developments.

    The 8th Annual Growth Conference – Toronto, Canada

    Matador will participate in the 8th Annual Growth Conference from March 3–6, 2025, hosted by Centurion One Capital at the Four Seasons Hotel in Toronto. The conference will feature company presentations, panel discussions, and networking sessions with investors and industry professionals.

    PDAC Conference – Toronto

    Matador will also participate in the Prospectors & Developers Association of Canada (PDAC) Conference in March 2025. PDAC is a global industry event focused on mineral exploration and mining, providing an opportunity to discuss the intersection of blockchain technology with traditional asset classes.

    Matador looks forward to leveraging these events to foster relationships with institutional investors, gain insights into emerging market trends, and explore potential partnerships.

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network

    Phone: 647-932-2668

    About Matador Technologies Inc.
    Matador Technologies Inc. is a digital gold platform leveraging blockchain technology to digitize real-world assets like gold. Focused on building innovative financial solutions, Matador is at the forefront of integrating blockchain technology to preserve and grow value. Matador’s digital gold platform aims to democratize the gold buying experience, combining the best of modern technology and time-proven assets, to create an app that will allow users to buy, sell, and store gold 24/7 in a fun and engaging way.

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    The MIL Network –

  • MIL-OSI: Lantronix Expands Latin American Market Reach Through Strategic Partnership With Ion LATAM

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity for IoT solutions enabling AI Edge Intelligence, today announced a strategic partnership with Ion LATAM, a premier sales and marketing manufacturer’s representative organization covering Mexico, Central America and South America. Designed to broaden Lantronix’s market presence in Latin America, this relationship will expand access of its cutting-edge IoT and AI Edge solutions to the companies’ mutual customers.

    “We are pleased to add Ion LATAM to our network of trusted partners and are excited about growing our business in Latin America in response to the increasing demand for secure, reliable IoT solutions,” said Kurt Hoff, VP of Global Sales & Marketing at Lantronix. “This relationship represents a significant milestone in Lantronix’s ongoing commitment to delivering innovative products and services throughout Latin America and the world at large.”

    Under this agreement, Ion LATAM will promote Lantronix’s comprehensive IoT and intelligence edge product portfolio and will also provide expert technical support to customers in Latin America. By leveraging Ion LATAM’s deep industry expertise and customer relationships, the alliance is poised to accelerate the adoption of Lantronix’s innovative solutions across Mexico, Central America and South America.

    “We are thrilled to partner with Lantronix,” said Toby Lasley, president of Ion LATAM. “As a manufacturer representative, we see immense value in offering Lantronix’s world-class IoT and AI Edge Intelligent products,, engineering services and AI-powered Out-of-Band solutions to our customers. This collaboration aligns perfectly with our mission to deliver leading-edge technology to our markets.”

    About Lantronix

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth markets, including Smart Cities, Enterprise and Transportation. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that enable AI Edge Intelligence. Lantronix’s advanced solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

    For more information, visit the Lantronix website.

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to Lantronix leadership. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. In addition, actual results may differ as a result of additional risks and uncertainties of which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

    ©2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

    Lantronix Media Contact:
    Gail Kathryn Miller
    Corporate Marketing &
    Communications Manager
    media@lantronix.com

    Lantronix Analyst and Investor Contact:
    investors@lantronix.com

    The MIL Network –

  • MIL-OSI: Transocean Ltd. Announces CEO Succession Plan

    Source: GlobeNewswire (MIL-OSI)

    STEINHAUSEN, Switzerland, Feb. 18, 2025 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) today announced its plan for key leadership changes pursuant to the company’s multi-year succession planning strategy. As part of this plan, Keelan Adamson, the company’s President and Chief Operating Officer, will become President and Chief Executive Officer following a transition period, which is expected to conclude during the second quarter of 2025. Mr. Adamson will succeed Jeremy Thigpen, who has led Transocean as Chief Executive Officer since 2015. Mr. Adamson is also expected to be nominated to join the Board of Directors at the company’s 2025 annual general meeting of shareholders.

    Mr. Thigpen will continue serving as Chief Executive Officer until Mr. Adamson’s appointment and will continue his service as a member of the company’s Board of Directors through his current term. Thereafter, subject to shareholder approval at the 2025 annual general meeting, Mr. Thigpen is expected to be appointed as Executive Chair of the Board of Directors, and Mr. Chad Deaton, Transocean’s current Chair of the Board, will transition to Lead Independent Director.

    “Keelan is an experienced executive who has a deep understanding of our business, our customers and our industry,” Mr. Deaton said. “Throughout his three decades with Transocean, where his experience has taken him from the drill floor to the executive level, Keelan has helped to shape the foundation of the company and position Transocean for sustained success as the industry’s market leader. This transition represents the culmination of a key part of our multi-year, rigorous and thoughtful succession plan designed to develop internal talent and maintain business and leadership continuity.  Keelan is well-prepared for this opportunity.” 

    Mr. Deaton continued, “On behalf of the entire Board, I would like to recognize and thank Jeremy for leading Transocean through the most challenging market in the history of offshore drilling. He guided Transocean as we transformed our fleet through opportunistic asset transactions, as well as the acquisition of two major competitors; under his leadership, we placed into service the most technologically advanced rigs in the world, including the first 8th generation, 20K drillships. He oversaw the continuation of Transocean’s legacy for leading the industry in innovation, with the application of new technologies that improve the safety, reliability and efficiency of our operations. Jeremy’s contributions and leadership have been recognized and appreciated by the entire industry, and we look forward to his continued work with Transocean as he transitions into his new role.” 

    Mr. Adamson has served as Transocean’s President and Chief Operating Officer since February 2022. Prior to that time, he served as the company as Executive Vice President and Chief Operations Officer from August 2018 to February 2022, as Senior Vice President, Operations from October 2017 to July 2018, and as Senior Vice President, Operations Integrity and HSE, from June 2015 to October 2017. As part of his responsibilities during this period, Mr. Adamson oversaw the company’s Technical Services team from May 2016 to October 2017. He also served as the company’s Vice President, Human Resources from December 2012 to May 2015, and has held other executive positions with the company, including as the Vice President overseeing Major Capital Projects and Engineering. He joined Transocean in 1995 and has held rig management positions in the United Kingdom, Asia and Africa, sales and marketing leadership roles, and served as the Managing Director for the company’s business in North America, Canada and Trinidad. Mr. Adamson earned a bachelor’s degree in Aeronautical Engineering from The Queens University of Belfast and completed the Advanced Management Program at Harvard Business School.

    “I am honored by and grateful for the opportunity to lead Transocean and its talented and dedicated workforce,” said Mr. Adamson. “With the highest specification fleet in the industry and the unparalleled experience of our offshore crews and shore-based support personnel, we are well-positioned for success. As I work alongside the entire Transocean team as CEO, we will maintain a sharp focus on executing our business strategy – delivering enhanced shareholder value by optimizing operations, safely and efficiently meeting our customers’ objectives and meaningfully reducing our debt. It is an honor to succeed Jeremy, who skillfully guided Transocean through an unprecedented industry downturn and prepared it for the opportunities that we are realizing today.”

    In reflecting on his tenure as Chief Executive Officer, Mr. Thigpen said, “The trust and support the Board and the entire Transocean team provided during my tenure as CEO helped assemble an impressive team that operates the industry’s most technologically advanced assets, while executing on strategies that preserved and enhanced shareholder value. Transocean is a resilient and strong organization, made stronger by leaders like Keelan whom I have had the pleasure of working closely with for the past decade. Keelan is the right person to lead Transocean as we build upon the company’s position as the leader in offshore drilling.”

    About Transocean

    Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

    Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.

    Forward-Looking Statements

    The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and in many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company’s most recent Annual Report on Form 10-K for the year ended December 31, 2023, and in the company’s other filings with the SEC, which are available free of charge on the SEC’s website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: www.deepwater.com. 

    This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.

    Analyst Contact:
    Alison Johnson
    +1 713-232-7214

    Media Contact:
    Pam Easton
    +1 713-232-7647

    The MIL Network –

  • MIL-OSI NGOs: Cuba: One month after releases were announced, hundreds remain in prison

    Source: Amnesty International –

    On 14 January, the Cuban authorities announced that “in the spirit of the Ordinary Jubilee of 2025” and following talks with Pope Francis, they would release 553 people from prison. At the same time, the United States government announced that, among other measures, it would remove Cuba from the list of state sponsors of terrorism. Although both countries denied any agreement, White House sources confirmed that a significant number of people would be released following the announcement, particularly those linked to the protests of 11 July 2021. To date, Cuban human rights organizations have registered the release of more than 171 persons who had been arbitrarily detained for political reasons. In this regard, Ana Piquer, Americas director at Amnesty International, stated:

    “The release process has been marred by irregularities and a lack of state transparency. The Cuban authorities have not acknowledged the existence of individuals detained for political reasons, nor have they provided a list of the names of those to be included in the process. They have also been unwilling to guarantee the immediate and unconditional release of prisoners of conscience such as Luis Manuel Otero Alcántara, Maykel Castillo, Loreto Hernández, Roberto Pérez Fonseca and Saylí Navarro. These individuals and all those imprisoned simply for speaking out must be released,” added Ana Piquer.

    “The release process has been marred by irregularities and a lack of state transparency. The Cuban authorities (…) have also been unwilling to guarantee the immediate and unconditional release of prisoners of conscience such as Luis Manuel Otero Alcántara, Maykel Castillo, Loreto Hernández, Roberto Pérez Fonseca and Saylí Navarro. These individuals and all those imprisoned simply for speaking out must be released”

    -Ana Piquer, Americas director at Amnesty International

    The releases have been characterized by the exclusion of the victims and their families, and the absence of guarantees that they will not be detained again if they are perceived to be dissenting voices or opponents of the government. Those released and their families were given only a few hours’ notice of their release, usually at night. In many cases, the authorities informed them that they had been granted a prison benefit – in most cases conditional release – with no explanation or guarantees as to the conditions or their legal status.

    “Hundreds of families have been torn between anguish and hope, waiting for a phone call or other form of communication, without any criteria or element that would allow them to know if their relatives would be released. The continuing context of repression and failure to acknowledge the arbitrariness and injustice of the legal proceedings against these people place them in a situation of extreme violation of their rights,” said Ana Piquer.

    Hundreds of families have been torn between anguish and hope, waiting for a phone call or other form of communication, without any criteria or element that would allow them to know if their relatives would be released. The continuing context of repression and failure to acknowledge the arbitrariness and injustice of the legal proceedings against these people place them in a situation of extreme violation of their rights

    -Ana Piquer, Americas director at Amnesty International

    The Cuban authorities have not provided a list of those who may be released. They have insisted that such releases do not constitute a pardon, and that those released would receive the prison benefits established in Cuban law.

    The organization Justicia 11J has verified the release of 172 persons and reported that a further nine people who had already been released from prison were informed that the legal benefits originally granted to them had been changed. Most of those released were serving sentences for their participation in the 11 July protests, having been charged with “public disorder”, “contempt” and “assault”, offences typically used by the Cuban authorities to punish peaceful protest and the exercise of the right to freedom of expression and association.

    While prisoners of conscience José Daniel Ferrer, Félix Navarro, Luis Robles and Donaida Pérez Paseiro are now with their families, they have all denounced restrictions on the exercise of their human rights as part of the conditions of their release.

    Prisoner of conscience Pedro Albert, for example, who was released on parole in November 2024, was informed that his benefit was to be changed to conditional release and told that failure to accept the change would risk his return to prison. On 21 January 2025, Pedro Albert was arbitrarily detained for a few hours, interrogated and then fined for visiting the offices of the Damas de Blanco.

    Similarly, prisoner of conscience Donaida Pérez Paseiro reported that her husband, prisoner of conscience Loreto Hernández, was informed that his possible release would only be granted if she renounced her activism and refrained from speaking to the media, as she has denounced prison conditions and expressed her intention to continue defending human rights following her release.

    Opposition leader and prisoner of conscience José Daniel Ferrer García was released on 16 January, having spent over three years in prison. Since then, persons close to him have been threatened for visiting him and the mobile phones they lent him for his initial communications have had their internet access blocked. José Daniel Ferrer told Amnesty International that he had refused to sign the conditions of his release and that he had been removed from the prison premises without being allowed to collect his personal belongings.

    On 20 January 2025, Donald Trump’s administration repealed the measures taken by the government of then-President Biden, including the removal of Cuba from the list of state sponsors of terrorism. Although the Cuban government has insisted that the release process was a sovereign and unilateral decision, organizations monitoring the process have reported that no new releases have taken place since 21 January.

    “The possible cancellation or pause in releases is alarming, as it would seem to indicate that political prisoners have once again been dehumanized and used as bargaining chips in a political game, with no regard for their lives, their physical integrity or their rights,” said Ana Piquer.

    The possible cancellation or pause in releases is alarming, as it would seem to indicate that political prisoners have once again been dehumanized and used as bargaining chips in a political game, with no regard for their lives, their physical integrity or their rights

    -Ana Piquer, Americas director at Amnesty International

    Given this situation, Amnesty International urges the Cuban authorities to immediately and unconditionally release all those unjustly imprisoned in Cuba for exercising their human rights. “While these releases were taking place, political activists and human rights defenders have been arbitrarily detained and have suffered harassment and intimidation because of their work. The Cuban government must repeal repressive laws and cease these systematic practices of repression against dissidents,” concluded Ana Piquer.

    MIL OSI NGO –

  • MIL-OSI USA: FEMA Supports State and Local Response to Ohio Valley Flooding

    Source: US Federal Emergency Management Agency

    Headline: FEMA Supports State and Local Response to Ohio Valley Flooding

    FEMA Supports State and Local Response to Ohio Valley Flooding

    Following President Trump’s Approval of Emergency Declaration for KentuckyWASHINGTON — FEMA is closely coordinating with state and local officials to provide support as widespread flooding impacts portions of Kentucky, Virginia and West Virginia. With winter weather in the forecast, residents should stay informed about changing conditions, as freezing temperatures and additional precipitation could worsen impacts and create hazardous travel conditions.“I spoke to Kentucky Governor Andy Beshear to offer federal resources and action for the deadly flash floods impacting Kentucky. We discussed how while emergency management is best led by local authorities, we reinforced that the Department of Homeland Security stands ready to take immediate action to offer resources and support,” said DHS Secretary Kristi Noem. “Local emergency managers should swiftly notify people in the affected areas to take action to protect themselves and their belongings. DHS stands ready to help when a state needs, requests and declares an emergency. Follow us for updates and closely monitor messages from your state and local leaders.” Within 12 hours of the initial weather impacts, FEMA deployed Urban Search and Rescue teams and swift-water rescue teams from Missouri, Indiana and Ohio, to work alongside state National Guard personnel, to assist with evacuations. Additionally, two FEMA Incident Management Teams and emergency communications support were deployed in Kentucky today to assist with response efforts. FEMA is delivering 40 truckloads of meals and water requested by the states. FEMA also deployed staff to the Virginia and West Virginia emergency operations centers to monitor and coordinate on any requests for additional assistance.Resources for Affected ResidentsPeople in affected areas are encouraged to follow local officials’ guidance and seek available resources. Kentucky: Residents with immediate needs should complete the Rapid Needs Assessment Form online or call 502-607-6665. For life-threatening emergencies, call 911 immediately.Virginia, Tennessee and West Virginia: Residents should monitor local emergency management agencies and the National Weather Service for updates and emergency instructions.Shelters are open for those displaced by the flooding. Individuals in need of shelter can locate the nearest open facility by visiting www.redcross.org or calling 1-800-RED CROSS (1-800-733-2767).FEMA urges residents to take precautions as floodwaters continue to rise. Never attempt to walk, swim or drive through floodwaters. Just six inches of moving water can knock a person off their feet, and one foot of water can carry away most vehicles.FEMA remains committed to working with federal, state, tribal and local partners to support the recovery for communities and the Americans who were affected by the storms and flooding.
    mashana.davis
    Mon, 02/17/2025 – 22:13

    MIL OSI USA News –

  • MIL-OSI USA: Cookies, Cream, and Crumbling Cores

    Source: NASA

    Perseverance’s drives over the last few weeks have doubled back several times. Why such an unconventional route? Team scientists have been delighted to find new kinds of rocks that could be the oldest ever found on Mars and are eager to collect samples.
    Perseverance embarked on the Crater Rim Campaign in search of ancient uplifted rock, to better understand the geologic processes occurring early in Mars’ history, and search for ancient habitable environments. Recent discoveries have not disappointed: so far in this portion of the rim, every outcrop that the rover has taken a close look at using the science instruments on its robotic arm has ended up being something new. As explained in the previous update, after acquiring the “Silver Mountain” core, which is rich in the mineral pyroxene, Perseverance approached a nearby rock that had signatures of the mineral serpentine, fittingly nicknamed “Serpentine Lake.” Following this, the rover used its abrasion tool to clean the rock of dust and coatings for detailed scientific interrogation, and the team was wowed by the intriguing rock texture, which resembles “cookies & cream” dessert (see photo above), and the very high abundance of minerals like serpentine, which form in the presence of water.
    After finishing that investigation, the operations team decided to have Perseverance head back along its path once more to the site of its first abrasion in this part of the rim, named “Cat Arm Reservoir,” to acquire a sample. Results from that earlier analysis showed a rock texture with coarse pyroxene and feldspar crystals consistent with an igneous origin. However, the sample tube turned up empty. What happened? Perseverance has encountered this problem before: flashback to our first ever coring attempt. It’s not a common occurrence, but sometimes the rocks Perseverance tries to sample are so weak that upon coring they essentially disintegrate into a powder instead of remaining in the tube. The rover drove to a nearby spot and tried again, but when a second attempt to core this rock did not retain any sample, the team decided to move on.
    This week, Perseverance will return once again to the site of the Serpentine Lake abrasion patch to acquire a core of this fascinating rock, which records intense alteration by water. The team hopes that it will prove strong enough to acquire a core, and if successful, Perseverance may perform more scans on the abrasion patch. Afterward, the plan is to drive downhill to an area called “Broom Point,” home to a spectacular sequence of layered rock, where I’m sure more surprises and exciting scientific discoveries await.
    Written by Athanasios Klidaras, Ph.D. student at Purdue University

    MIL OSI USA News –

  • MIL-OSI USA: DHS Announces Ad Campaign Warning Illegal Aliens to Self-Deport and Stay Out

    Source: US Federal Emergency Management Agency

    Headline: DHS Announces Ad Campaign Warning Illegal Aliens to Self-Deport and Stay Out

    WASHINGTON – Today, Secretary Kristi Noem announced a nationwide and international multimillion-dollar ad campaign warning illegal aliens to leave our country now or face deportation with the inability to return to the United States. The international ads warn criminal illegal aliens not to come to America and break its laws or they will be hunted down and deported.  

    This series of ads will run on radio, broadcast, and digital, in multiple countries and regions in various dialects. Ads will be hyper-targeted, including through social media, text message and digital to reach illegal immigrants in the interior of the United States, as well as internationally. 

    “Thank you, President Donald J. Trump, for securing our border and putting America first. President Trump has a clear message: if you are here illegally, we will find you and deport you. You will never return. But if you leave now, you may have an opportunity to return and enjoy our freedom and live the American Dream,” said Secretary Kristi Noem. “If you are a criminal alien considering entering America illegally: Don’t even think about it.  If you come here and break our laws, we will hunt you down. Criminals are not welcome in the United States.” 

    Watch domestic ad here and international ad here. 

    MIL OSI USA News –

  • MIL-OSI Economics: Lesetja Kganyago: Institutions, leadership and the populist challenge

    Source: Bank for International Settlements

    Good day and thank you for inviting me to give this keynote address.

    Let me join you all in congratulating Andile Nikani on his appointment as the Chief Executive Officer (CEO) of the Arbitration Foundation of Southern Africa.

    Arbitrators work to achieve fair outcomes. Fairness is an objective that is valued universally, even by children from an early age. But arbitrators like you also achieve something else.

    As the field of law and economics has shown us, when you apply economic reasoning to law, you often find that traditional legal approaches overlook the importance of efficiency. In a dispute, especially a professional dispute, parties fear long delays and excessive costs. If you get stuck in a process like that, even winning offers little consolation.

    So let me commend you, not only for ensuring fairness, but also for doing it efficiently enough that parties freely choose you to resolve their conflicts and voluntarily accept your decisions.

    For this keynote, I have chosen a subject that I hope will interest both economists and lawyers. I want to talk about the populist challenge to institutions and what it means for leaders.

    The fact is that populism is widespread in the world.

    It was once seen as a developing-country phenomenon − something rooted in places like Argentina − and not much of an issue in mature democracies. But no one believes that now, especially not since 2016, with the surprise outcomes of the Brexit referendum and the United States election. Last year − the year of elections − made that point even clearer. Whether we are talking about rich countries or poorer ones, there is no denying that we are in an age of populism. We need to reflect on why populist ideas have this appeal, and how we can respond.

    MIL OSI Economics –

  • MIL-OSI Video: WARNING – International

    Source: United States of America – Federal Government Departments (video statements)

    Secretary Kristi Noem announced a nationwide and international multimillion-dollar ad campaign warning illegal aliens to leave our country now or face deportation with the inability to return to the United States. The international ads warn criminal illegal aliens not to come to America and break its laws or they will be hunted down and deported.

    This series of ads will run on radio, broadcast, and digital, in multiple countries and regions in various dialects. Ads will be hyper-targeted, including through social media, text message and digital to reach illegal immigrants in the interior of the United States, as well as internationally.

    “Thank you, President Donald J. Trump, for securing our border and putting America first. President Trump has a clear message: if you are here illegally, we will find you and deport you. You will never return. But if you leave now, you may have an opportunity to return and enjoy our freedom and live the American Dream,” said Secretary Kristi Noem. “If you are a criminal alien considering entering America illegally: Don’t even think about it. If you come here and break our laws, we will hunt you down. Criminals are not welcome in the United States.”

    https://www.youtube.com/watch?v=hhRt3FKXgGU

    MIL OSI Video –

  • MIL-OSI Europe: Written question – El Salvador–United States agreement to send criminals to Salvadorian prisons – E-000494/2025

    Source: European Parliament

    Question for written answer  E-000494/2025
    to the Commission
    Rule 144
    Jorge Buxadé Villalba (PfE)

    El Salvador and the US are finalising, among other things, the transfer of offenders and criminals from US prisons to prisons built by President Nayib Bukele in El Salvador[1].

    A range of prisoners would be transferred under this agreement, from Salvadorian citizens who are in the US illegally to illegal immigrants of other nationalities and dangerous criminals that are US citizens or are legally residing in the US, in exchange for payment covering the associated costs.

    This collaborative policy of solidarity makes the agreement mutually beneficial; the US will be able to reduce overcrowding in its prisons and the Salvadorian prison system will receive more funding.

    In Europe, in regions such as Catalonia, official data shows that foreign prisoners outnumber local prisoners[2].

    In light of this:

    • 1.When will the Commission present its draft agreement for deporting illegal immigrants in order to free up European prisons?
    • 2.Coupled with the establishment of detention centres in third countries, does the Commission think that these measures could stop the endless flow of illegal immigrants to Europe?
    • 3.Does the Commission consider a similar model of transferring illegal immigrants and criminals to prisons in third countries to be viable?

    Submitted: 4.2.2025

    • [1] https://www.state.gov/secretary-of-state-marco-rubio-and-salvadoran-foreign-minister-alexandra-hill-tinoco-at-the-signing-of-a-memorandum-of-understanding-concerning-strategic-civil-nuclear-cooperation/.
    • [2] https://www.larazon.es/cataluna/generalitat-cataluna-admite-que-hay-mas-presos-inmigrantes-que-espanoles_2024122367692c97bc785b0001689737.html.
    Last updated: 18 February 2025

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: Enhance Strengths and Thrive through Innovation and Connectivity (with photos)

    Source: Hong Kong Government special administrative region

         The Commissioner of Customs and Excise, Mr Chan Tsz-tat, chaired Customs’ 2024 year-end press conference held at the Customs Headquarters Building today (February 18) to review the department’s law enforcement results and sustainability in the provision of trade and clearance facilitation during the year. Mr Chan also outlined that, while carrying on its fine tradition of providing simple and efficient customs clearance that makes Hong Kong a trading and logistic hub for different sectors, the department will actively adopt new technology, adjust enforcement strategies and reinforce collaboration with other customs administrations to enhance enforcement efficiency. Hong Kong Customs will continue its efforts to strengthen and uphold its leading role in customs affairs and combat cross-boundary crimes in the Asia-Pacific region.  

    Overall enforcement situation
    ———————————
     
         In 2024, a total of 31 242 cases were detected, an increase of 63 per cent from the 2023 figure. About 68 per cent of the cases are related to illicit cigarettes, followed by cases related to dangerous drugs and intellectual property rights infringement.

    Illicit cigarettes
    ——————
     
         On the anti-illicit cigarette operation front, the number of detected cases in 2024 increased by 80 per cent to 21 284 cases from 2023, with 614 million cigarettes seized, representing a 6 per cent drop as compared to the figure for 2023.

         The significant increase in the number of illicit cigarette cases stemmed from a huge surge in cases involving inbound persons bringing in cigarettes exceeding the duty-free concessions by imposing a penalty on offences compoundable. Such cases rocketed by 94 per cent to 19 072 cases from 2023. Moreover, 40 large-scale illicit cigarette smuggling cases were detected last year, which was the same as 2023.

         In addition, 2 451 cases involving alternative smoking products, with seizures of over 12 million pieces of relevant products, including electronic cigarettes and heat-not burn products, and 2 255 arrestees in total, were detected last year.
     
    Dangerous drugs
    ——————-
     
         In 2024, 1 363 drug cases were detected, which was about the same as the 2023 figure. A total seizure of about 6.3 tonnes of drugs was made, representing a drop of 33 per cent from 2023.

         The five major drug seizures in order of quantity were cannabis (2 874.8 kilograms, a 22 per cent increase), ketamine (1 202.8kg, a 34 per cent decrease), methamphetamine (“Ice”) (1 111.7kg, a 50 per cent decrease), cocaine (711.4kg, a 64 per cent decrease) and MDMA (Ecstasy) (149.6kg, a 3 per cent decrease) compared to the figure for 2023.

         Customs noticed that drug syndicates resume to traffic drugs by exploiting inbound air passengers, and the number of such cases and seizure quantity showed a noticeable upward trend, with 113 relevant cases detected and 988kg drugs seized last year, representing an increase of 38 per cent and a 1.9-fold increase as compared to figures for 2023. Moreover, etomidate (the main ingredient of “space oil drug”) was put under control of the Dangerous Drugs Ordinance on February 14, and Customs has stepped up enforcement efforts to combat the dangerous drug on various fronts.
          
    Smuggling
    ————
     
         A total of 233 smuggling cases with a seizure value of $4.340 billion in total were detected last year, representing an increase of 5 per cent and 37 per cent from 2023 respectively.
          
         Smuggling syndicates still mainly conduct smuggling activities by sea. Apart from making use of barges, speedboats and fishing vessels, Hong Kong Customs also found criminals using river trade vessels to smuggle large amounts of goods to nearby Mainland cities and Macao, or even adopting more circuitous routes by shipping goods overseas and then re-exporting them to the Mainland to evade the department’s detection.

    Money laundering
    ——————–
     
         Customs last year detected eight money laundering cases with $19 billion involved.
     
    Intellectual property rights
    ——————————
     
         Customs detected 783 intellectual property rights infringement cases last year, representing an annual increase of 11 per cent. The seizure value of infringing items increased 7 per cent to around $309 million (4 million items) as compared to the figure for 2023.

         As for Internet infringement, 130 cases were detected, representing an increase of 29 per cent from 2023.

         Customs last year applied the “communication right” under the Copyright Ordinance for the first time to detect a case of unauthorised communication of live football matches to the public by a restaurant in the course of business.

    Consumer protection
    ————————

         Customs last year received 12 436 complaints regarding suspected cases of violating the Trade Descriptions Ordinance (TDO), a drop of 34 per cent from 2023. Among them, 11 601 complaints were handled:
     
    (i) Detailed investigations have been made on 7 492 complaints;
     
    (ii) The remaining 4 109 complaints have been closed since they were not in contravention of the TDO, or have been referred to other relevant departments or institutions for follow-up actions.
     
         There were 3 003 complaints involving fitness services last year, accounting for 47 per cent of the total number of complaints regarding services and an increase of 14-fold from 2023. This was mainly due to the announcement of business temporary closure of a chain fitness and beauty centre.

         Complaints on medicine shops involving quantities of unclear pricing units in selling ginseng and dried seafood, or Chinese medicine (also known as cases concerning catty, tael and mace) or sale of proprietary medicines slightly decreased to 497 cases in total, among which 86 percent were made by Mainland tourists. The department’s Quick Action Team has been deployed to handle and follow up with complaints by short-term visitors to Hong Kong, and 208 such complaints were handled last year, with 11 shop owners and staff arrested. Customs is also committed to conducting promotion and education through multiple channels, informing Mainland visitors about common unfair trade practices by medicine shops, deploying mobile promotion vehicles at popular tourist hotspots during festivals, conducting patrols with the Travel Industry Authority, and promoting compliance among traders.
     
    Clearance and trade facilitation
    ———————————–

         Customs has continued to facilitate clearance and trade and implement various related measures.
     
    (i) Since the full resumption of normal travel with the Mainland, the number of inbound and outbound passengers and vehicle trips at each control point was about 300 million and about 14.9 million. The number of inbound and outbound passengers has recovered to the number before the 2019 epidemic, while the number of vehicle trips has recovered to about 95 per cent. To further enhance clearance mode, Customs is actively participating in the redevelopment project of the boundary control point in Huanggang taken forward by the HKSAR Government and the Shenzhen Municipal Government, and will provide suggestions on the design and clearance mode of the boundary control point. Details are still under discussion.

    (ii) Based on the Smart Customs Blueprint, Customs has given full play to the advantages of innovative technologies, such as artificial intelligence, cloud computing and blockchain, and has introduced nine CT scanners that provide high-resolution three-dimensional scanning images and the function of automatically detecting contrabands, improving customs clearance efficiency and law enforcement capabilities. Also, the department is researching on the Customs Big Data Application System that could strengthen the capabilities to detect and crack down on smuggling and other crimes related to Customs through an integrated database.

    (iii) Customs actively expands the global network of the Hong Kong Authorized Economic Operator (AEO) Mutual Recognition Arrangement (MRA). Last year, Customs signed the AEO MRAs with the Bahrain and the South African Customs. The MRAs with Saudi Arabia and the Philippines Customs are expected to be signed in early 2025. As of now, there are a total of 16 MRAs ratified between Hong Kong Customs and other economies. AEO MRA Action Plans with the United Arab Emirates, Lao, Chilean and Peruvian Customs were also concluded last year, while the discussion about MRA with other countries along the Belt and Road Initiative is ongoing.

    (iv) Hong Kong Customs and the General Administration of Customs of the People’s Republic of China (GACC) actively enhanced the “Single Submission for Dual Declaration” Scheme. The Scheme was expanded to southbound cargo at all Shenzhen highway ports in November last year, and is planned to cover northbound cargo by the second quarter of 2025 or earlier. Under the Scheme, companies can synchronise cargo information declared with the system on the Mainland through the Hong Kong system, significantly reducing customs clearance time and possible declaration input errors. The Scheme is conducive to the design of system functions of the third phase of Hong Kong Trade Single Window.

    (v) Last year, Hong Kong and Mainland Customs actively extended the Single E-lock Scheme. As of December last year, the number of clearance points under the scheme has reached 93, including 66 in Guangdong, four in Hunan, six in Fujian, four in Macao and 13 in Hong Kong, providing the industries with more than 1 000 cross-boundary route options. Hong Kong Customs and the Nanning Customs are looking into extending the scheme to Guangxi.

    (vi) To cope with the rapid development of the global electronic commerce industry, Customs launched the Cross-boundary Express Cargo Clearance Facilitation Arrangement (CEFA), providing an innovative customs clearance model of “free flow through the first line and efficient control at the second line” to qualified logistics providers. A Memorandum of Understanding with an express courier company was signed at the end of last year, marking the official commencement of the CEFA. As of December last year, over 2 000 cargo vehicle trips and 470 000 declared goods were facilitated under the CEFA.
     
    Strengthen Mainland and international co-operation
    ———————————————————-
     
         Hong Kong Customs last year continued to reinforce connection with both the Mainland and the world, promoting two-way or multi-way communication and collaboration with different regions. These included meeting with the GACC on customs affairs and signing a co-operative arrangement about drug detector dogs; cohosting a conference on combating illicit cigarettes with the Australian authority; organising forums and workshops on combating money laundering and transnational organised crimes, and risk management and intelligence analysis with overseas law enforcement agencies.

         The co-operation between Hong Kong Customs and customs and enforcement agencies around the world has a long history, and the Customs Co-operative Arrangement (CCA) serves as the cornerstone for establishing and maintaining these co-operative relationships. As of last year, Hong Kong Customs signed the CCA with 31 customs authorities worldwide. Hong Kong Customs also signed a CCA with the Zakat, Tax and Customs Authority of Saudi Arabia and is actively seeking co-operation with other Middle East countries.

         Since assuming the office of the Vice-Chairperson for the Asia/Pacific (A/P) region of the World Customs Organization (WCO) in July last year, Hong Kong Customs has hosted a series of global or regional meetings and workshops, covering areas such as combatting illicit cigarettes, canine enforcement and anti-money laundering, and gathered representatives from around the world to communicate and exchange views on relevant issues, hence strengthening co-operation among law enforcement agencies in the region.
     
    Human resources
    ——————–
     
         On manpower recruitment, the department continued to adopt an active recruitment strategy last year, including participating in large-scale career fairs and organising seminars, promoting recruitment through social media platforms, visiting different tertiary institutions to facilitate on-the-spot applications. Mainland Hong Kong students are one of the target groups for Customs recruitment. The department held recruitment seminars on the Mainland in March last year and received more than 290 applications on the spot. Last year, more than 8 400 applications were received for the recruitment of Customs Inspectors, an increase of 12 per cent compared with 2023. About 9 600 applications were received for the recruitment of Customs Officers, representing an about 13 per cent increase compared with 2023. Last year, 82 Customs Inspectors and 355 Customs Officers were recruited. The department will continue its recruitment exercise to fill vacancies this year.

         To strengthen officers’ training in various professional aspects, co-operative Memoranda of Understanding were also signed with the National Academy of Governance, the Vocational Training Council and the University of Hong Kong last year.
     
    Youth development
    ———————-

         Customs continues with its commitment to youth development work. By end-2024, Customs YES recruited 7 935 individual members and 58 organisation members, and held over 490 activities. In addition, a 40-person Foot Drill and Flag Party of the Customs Youth Leader Corps, the first youth group under the Security Bureau to perform Chinese-style rifle foot drill, was set up last year.

    Future development
    ———————–
     
         Hong Kong Customs, as the Vice-Chairperson for the A/P region of the WCO, will continue to foster connection, and promote trade facilitation measures and development in the A/P region by continuing to organise large-scale meetings and workshops on multiple topics this year, including data strategies, e-commerce and Smart Customs.

         Furthermore, Hong Kong Customs has suggested introducing a duty stamp system to differentiate and crack down on duty-not-paid illicit cigarettes during a public consultation on tobacco control by the Health Bureau (HHB). A consultancy study on the duty stamp system was launched by Hong Kong Customs, the Financial Services and the Treasury Bureau and the HHB, and the report has been completed by end-2024. Affixing duty-paid labels on the packages of cigarettes is proposed. Based on the report, Hong Kong Customs will invite cigarette manufacturers to participate in a pilot scheme on the duty stamp system to assess the feasibility and technical issues concerning the stamp duty system, which will help with Customs’ improvement work and the implementation of the system in future. The pilot scheme is expected to be rolled out in mid-2025, while the system is expected to be officially launched within 2026. Hong Kong Customs will announce the details to the industry and the public in due course.
     
    Conclusion
    ————
     
         Concluding his briefing, Mr Chan pledged that the department will continue to leverage Hong Kong’s distinctive advantages of enjoying strong support of the motherland and being closely connected to the world under “one country, two systems” to consolidate Hong Kong’s status as an international financial, shipping and trade centre.      

    MIL OSI Asia Pacific News –

  • MIL-OSI: BlackRock® Canada Announces February Cash Distributions for the iShares® ETFs

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) — BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the February 2025 cash distributions for the iShares ETFs listed on the TSX or Cboe Canada which pay on a monthly basis as well as XIU. Unitholders of record of a fund on February 25, 2025 will receive cash distributions payable in respect of that fund on February 28, 2025.

    Details regarding the “per unit” distribution amounts are as follows:

    Fund Name Fund Ticker Cash Distribution Per Unit
    iShares 1-10 Year Laddered Corporate Bond Index ETF CBH $0.049
    iShares 1-5 Year Laddered Corporate Bond Index ETF CBO $0.051
    iShares S&P/TSX Canadian Dividend Aristocrats Index ETF CDZ $0.112
    iShares Equal Weight Banc & Lifeco ETF CEW $0.059
    iShares 1-5 Year Laddered Government Bond Index ETF CLF $0.032
    iShares 1-10 Year Laddered Government Bond Index ETF CLG $0.037
    iShares S&P/TSX Canadian Preferred Share Index ETF CPD $0.058
    iShares US Dividend Growers Index ETF (CAD-Hedged) CUD $0.079
    iShares Convertible Bond Index ETF CVD $0.072
    iShares Global Monthly Dividend Index ETF (CAD-Hedged) CYH $0.080
    iShares Canadian Financial Monthly Income ETF FIE $0.040
    iShares U.S. Aggregate Bond Index ETF XAGG $0.105
    iShares U.S. Aggregate Bond Index ETF(1) XAGG.U $0.061
    iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) XAGH $0.091
    iShares Core Canadian Universe Bond Index ETF XBB $0.079
    iShares Core Canadian Corporate Bond Index ETF XCB $0.069
    iShares ESG Advanced Canadian Corporate Bond Index ETF XCBG $0.119
    iShares U.S. IG Corporate Bond Index ETF XCBU $0.121
    iShares U.S. IG Corporate Bond Index ETF(1) XCBU.U $0.076
    iShares Core MSCI Global Quality Dividend Index ETF XDG $0.061
    iShares Core MSCI Global Quality Dividend Index ETF(1) XDG.U $0.042
    iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) XDGH $0.060
    iShares Core MSCI Canadian Quality Dividend Index ETF XDIV $0.115
    iShares Core MSCI US Quality Dividend Index ETF XDU $0.064
    iShares Core MSCI US Quality Dividend Index ETF(1) XDU.U $0.044
    iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) XDUH $0.059
    iShares Canadian Select Dividend Index ETF XDV $0.114
    iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) XEB $0.057
    iShares S&P/TSX Composite High Dividend Index ETF XEI $0.111
    iShares Core Canadian 15+ Year Federal Bond Index ETF XFLB $0.111
    iShares Flexible Monthly Income ETF XFLI $0.193
    iShares Flexible Monthly Income ETF(1) XFLI.U $0.145
    iShares Flexible Monthly Income ETF (CAD-Hedged) XFLX $0.179
    iShares S&P/TSX Capped Financials Index ETF XFN $0.140
    iShares Floating Rate Index ETF XFR $0.066
    iShares Core Canadian Government Bond Index ETF XGB $0.050
    iShares Global Government Bond Index ETF (CAD-Hedged) XGGB $0.040
    iShares Canadian HYBrid Corporate Bond Index ETF XHB $0.074
    iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) XHD $0.083
    iShares U.S. High Dividend Equity Index ETF XHU $0.080
    iShares U.S. High Yield Bond Index ETF (CAD-Hedged) XHY $0.084
    iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIG $0.070
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIGS $0.122
    iShares S&P/TSX 60 Index ETF XIU $0.275
    iShares Core Canadian Long Term Bond Index ETF XLB $0.062
    iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) XPF $0.071
    iShares High Quality Canadian Bond Index ETF XQB $0.053
    iShares S&P/TSX Capped REIT Index ETF XRE $0.065
    iShares ESG Aware Canadian Aggregate Bond Index ETF XSAB $0.047
    iShares Core Canadian Short Term Bond Index ETF XSB $0.072
    iShares Conservative Short Term Strategic Fixed Income ETF XSC $0.057
    iShares Conservative Strategic Fixed Income ETF XSE $0.053
    iShares Core Canadian Short Term Corporate Bond Index ETF XSH $0.060
    iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF XSHG $0.118
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF XSHU $0.127
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF(1) XSHU.U $0.080
    iShares Short Term Strategic Fixed Income ETF XSI $0.060
    iShares ESG Aware Canadian Short Term Bond Index ETF XSTB $0.047
    iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) XSTH $0.009
    iShares 0-5 Year TIPS Bond Index ETF XSTP $0.010
    iShares 0-5 Year TIPS Bond Index ETF(1) XSTP.U $0.007
    iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) XTLH $0.117
    iShares 20+ Year U.S. Treasury Bond Index ETF XTLT $0.125
    iShares 20+ Year U.S. Treasury Bond Index ETF(1) XTLT.U $0.087
    iShares Diversified Monthly Income ETF XTR $0.040
    iShares S&P/TSX Capped Utilities Index ETF XUT $0.090

    (1) Distribution per unit amounts are in U.S. dollars for XAGG.U, XCBU.U, XDG.U, XDU.U, XFLI.U, XSHU.U, XSTP.U, XTLT.U

    Estimated February Cash Distributions for the iShares Premium Money Market ETF

    The February cash distributions per unit for the iShares Premium Money Market ETF are estimated to be as follows:

    Fund Name Fund Ticker Estimated Cash Distribution Per Unit
    iShares Premium Money Market ETF CMR $0.124

    BlackRock Canada expects to issue a press release on or about February 24, 2025, which will provide the final amounts for the iShares Premium Money Market ETF.

    Further information on the iShares Funds can be found at http://www.blackrock.com/ca.

    About BlackRock

    BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @BlackRockCA

    About iShares ETFs

    iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and US$4.2 trillion in assets under management as of December 31, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

    iShares® ETFs are managed by BlackRock Asset Management Canada Limited.

    Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

    Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”). Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). TSX is a registered trademark of TSX Inc. (“TSX”). All of the foregoing trademarks have been licensed to S&P Dow Jones Indices LLC and sublicensed for certain purposes to BlackRock Fund Advisors (“BFA”),  which in turn has sub-licensed these marks to its affiliate, BlackRock Asset Management Canada Limited (“BlackRock Canada”), on behalf of the applicable fund(s). The index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by BFA and by extension, BlackRock Canada and the applicable fund(s). The funds are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, any of their respective affiliates (collectively known as “S&P Dow Jones Indices”) or TSX, or any of their respective affiliates. Neither S&P Dow Jones Indices nor TSX make any representations regarding the advisability of investing in such funds.

    MSCI is a trademark of MSCI, Inc. (“MSCI”). The ETF is permitted to use the MSCI mark pursuant to a license agreement between MSCI and BlackRock Institutional Trust Company, N.A., relating to, among other things, the license granted to BlackRock Institutional Trust Company, N.A. to use the Index. BlackRock Institutional Trust Company, N.A. has sublicensed the use of this trademark to BlackRock. The ETF is not sponsored, endorsed, sold or promoted by MSCI and MSCI makes no representation, condition or warranty regarding the advisability of investing in the ETF.

    Contact for Media:
    Sydney Punchard
    Email: Sydney.Punchard@blackrock.com

    The MIL Network –

  • MIL-OSI China: Defense Ministry Spokesperson’s Remarks on Recent Media Queries Concerning the Military on February 14, 2025 2025-02-18 On the afternoon of February 14, 2025, spokesperson for the Ministry of National Defense Senior Colonel Zhang Xiaogang answered recent media queries concerning the military.

    Source: People’s Republic of China – Ministry of National Defense 2

      Senior Colonel Zhang Xiaogang, spokesperson for the Ministry of National Defense (MND) of the People’s Republic of China (PRC), answers recent media queries concerning the military on Feburary 14, 2025. (mod.gov.cn/Photo by Zhang Zhicheng)

      (The following English text is for reference. In case of any divergence of interpretation, the Chinese text shall prevail.)

    On the afternoon of February 14, 2025, spokesperson for the Ministry of National Defense Senior Colonel Zhang Xiaogang answered recent media queries concerning the military.

    Journalist: Recently, a landslide occurred in Junlian County, Yibin City, Sichuan Province. Officers and soldiers of the People’s Liberation Army (PLA) and the People’s Armed Police Force (PAP) immediately engaged in disaster relief efforts. Please tell us more about it.

    Zhang Xiaogang: A landslide recently occurred in Junlian County, Yibin City, Sichuan Province. A disaster is an order for action. The PLA and PAP resolutely acted on President Xi’s important instructions on emergency rescue and disaster relief. They responded swiftly, stepped forward and conducted rescue operations with all-out efforts. So far, a total of 326 personnel have been deployed to a range of tasks, including search and rescue, relocation of affected residents, road clearance, hidden-danger assessment, and supplies transportation. They have also assisted the local government in evacuating and relocating over 230 people. The Chinese military remains steadfast in following the instructions of the Party Central Committee, the Central Military Commission and President Xi. We faithfully uphold the fundamental purpose of serving the people wholeheartedly and stay ready to support local disaster relief efforts at any time. We are committed to safeguarding the lives and property of the people and fulfilling all tasks entrusted by the Party and the people.

    Journalist: It is reported that President Xi Jinping, chairman of the Central Military Commission (CMC), recently signed an order to issue the revised Regulations on Scientific Research Related to Military Equipment. Please provide us with more information about this.

    Zhang Xiaogang: The revised Regulations on Scientific Research and Development Related to Military Equipment has five features. First, it takes the generation of combat capability as the sole criteria, and systematically reformed the processes and procudures for overall planning, project approval, and process management related to scientific research and development (R&D) of military equipment. Second, it requires advanced management concepts to be applied to both organs responsible for equipment R&D planning and units undertaking specific projects. This aims to improve the capacity for independent innovation, and provide more sources of growth in new quality combat capabilities. Third, it optimizes the classification and approval models for equipment pre-research, equipment R&D and production, and comprehensive equipment research, providing flexible and practical options for project management. Fourth, it systematically clarifies the principles and specific measures for quality control, cost management, acceptance and evaluation, and outcome management, in support of high-quality development of equipment R&D. Fifth, it establishes a comprehensive framework for the supervision and regulation of equipment R&D. It also specifies industry-specific supervision methods, inspection approaches and rectification measures. The Regulations will help enable higher quality and efficiency and stronger vitality of innovation in equipment R&D, so as to better support combat preparedness.

    Journalist: The PLA Navy recently sent a task group to Pakistan to attend the multinational maritime exercise AMAN 2025. This is the first international joint exercise the Chinese military has participated in this year. Please further brief us on the exercise.

    Zhang Xiaogang: At the invitation of the Pakistani military, a PLAN task group comprising of the guided-missile destroyer PLANS Baotou and the comprehensive supply ship PLANS Gaoyouhu participated in the multinational maritime exercise AMAN 2025 from February 6 to 11. During the onshore phase of the exercise, the task group and other participating naval forces held planning conferences, professional exchanges and open ship events. During the maritime phase, drills were conducted on joint counter-piracy operations, search and rescue and air defense. The exercise facilitated exchanges between the PLAN and other participating naval troops, and demonstrated a shared commitment to maritime security. The Chinese military will continue to live up to our international responsibilities and obligations, and contribute to world peace and stability with concrete actions.

    Journalist: The US Indo-Pacific Command recently said that the Typhon mid-range missile system had been relocated from the Laoag airfield to another location on the island of Luzon, and that the relocation, however, was not an indication that the batteries would be permanently deployed in the Philippines. The Philippine side said that it would return the Typhon system to the US so long as China stops claiming its territory, harassing its fishermen and attacking its ships. May I have your comment?

    Zhang Xiaogang: The Chinese side has made clear multiple times our firm opposition against the US deployment of the mid-range missile system in the Philippines. The Typhon missile system is a strategic asset and an offensive weapon. The Philippine side has repeatedly gone back on its words and brought in the system to cater to the US side. Such decision would only place its national security and defense in the hands of others, and lead to geopolitical confrontation and risks of arms race in the region. It’s like holding a candle to the devil and playing the jackal to the tiger.

    As we all know, the territory of the Philippines is defined by a series of international treaties, including the 1898 Treaty of Peace between the United States of America and the Kingdom of Spain, the 1900 Treaty between the United States of America and the Kingdom of Spain for Cession of Outlying Islands of the Philippines, and the 1930 Convention between His Majesty in Respect of the United Kingdom and the President of the United States regarding the Boundary between the State of North Borneo and the Philippine Archipelago. China’s Nansha Qundao and Huangyan Dao fall outside the Philippine territory. It’s legitimate, lawful and beyond reproach for the Chinese side to conduct law-enforcement activities in relevant waters.

    By using the deployment of Typhon as a bargaining chip on the South China Sea issue, the Philippine side is selling out its own national security, putting the well-being of its people and regional peace and stability at grave risk. Such behavior is ridiculous and dangerous. We require the Philippine side to recognize the high sensitivity and severe consequences of this issue, remove the Typhon missile system as soon as possible to honor its open promises, and return to the right track of dialogue and consultations at an early date. The Chinese side will continue to take necessary measures to resolutely counter provocations and infringements and safeguard our territorial sovereignty and maritime rights and interests.

    Journalist: It was reported that the US confirmed that Article V of the US-Japan Treaty of Mutual Cooperation and Security applies to China’s Diaoyu Dao during a phone call between Japanese Minister of Defense and US Secretary of Defense. What’s your comment?

    Zhang Xiaogang: Diaoyu Dao and its affiliated islands are China’s inherent territory. No matter what the US and Japan say or do, they can neither change this fact nor shake China’s resolve to safeguard national sovereignty and territorial integrity. The Treaty of Mutual Cooperation and Security between the US and Japan is a product of the Cold War. Military and security cooperation between the US and Japan should not target any third party, let alone undermine regional development. 2025 marks the 80th year of the victory of the World Anti-Fascist War. We hope the Japanese side will take lessons from history, demonstrate its determination to pursue peaceful development through concrete actions, and make more efforts to enhance mutual trust between countries and promote regional peace and stability.

    Journalist: It is reported that after being sworn in as the new US Secretary of Defense, Pete Hegseth made clear that the US would restore the warrior ethos and work with allies and partners to deter aggression in the Asia-Pacific by China. What’s your comment?

    Zhang Xiaogang: We firmly oppose the groundless accusation made by the US side. China pursues a national defense policy that is defensive in nature and a military strategy of active defense. The Chinese military is a staunch force for peace. As a peace-loving nation, China never engages in aggression or expansion. But we will never give up our legitimate rights and interests, and will take firm countermeasures against threats and challenges.

    I want to emphasize that major country competition should not be the underlying logic of the times. A steady, sound and sustained China-US diplomatic and defense relationship serves the common interests of the two countries and meets the general expectation of the international community. Standing at a new starting point, we hope the US will work with China on the principles of mutual respect, peaceful coexistence and win-win cooperation, to deepen state-to-state and military-to-military exchanges and cooperation, so as to inject certainty and positive energy into the world.

    Journalist: It is reported that US and Japanese leaders met with each other and issued a joint statement, which emphasized the importance of maintaining peace and stability across the Taiwan Strait and opposed any attempt to unilaterally change the status quo by force or coercion. Recently, the destroyer USS Johnson and the oceanographic survey ship USNS Bowditch transited the Taiwan Strait. What’s your comment?

    Zhang Xiaogang: The relevant contents in the US-Japan Joint Leaders’ Statement grossly interfered in China’s internal affairs and made unfounded smears and accusations against China. The Chinese side is strongly dissatisfied with and firmly opposed to that. Regarding the passage of the US vessels through the Taiwan Strait, the PLA Eastern Theater Command has already made a response.

    I want to point out that Taiwan is China’s Taiwan. Any military provocation of the US will not change this fact. On the contrary, such US actions expose its hypocrisy and double standard to the international community, and bolster the resolve and will of the Chinese people to safeguard our national sovereignty and realize national reunification. The PLA will continue to strengthen combat readiness, resolutely fight against secession and interference, and firmly safeguard national sovereignty and territorial integrity.

    MIL OSI China News –

  • MIL-OSI Economics: StaryDobry ruins New Year’s Eve, delivering miner instead of presents

    Source: Securelist – Kaspersky

    Headline: StaryDobry ruins New Year’s Eve, delivering miner instead of presents

    Introduction

    On December 31, cybercriminals launched a mass infection campaign, aiming to exploit reduced vigilance and increased torrent traffic during the holiday season. Our telemetry detected the attack, which lasted for a month and affected individuals and businesses by distributing the XMRig cryptominer. This previously unidentified actor is targeting users worldwide—including in Russia, Brazil, Germany, Belarus and Kazakhstan—by spreading trojanized versions of popular games via torrent sites.

    In this report, we analyze how the attacker evades detection and launches a sophisticated execution chain, employing a wide range of defense evasion techniques.

    Kaspersky’s products detect this threat as Trojan.Win64.StaryDobry.*, Trojan–Dropper.Win64.StaryDobry.*, HEUR:Trojan.Win64.StaryDobry.gen.

    Initial infection

    On December 31, while reviewing our telemetry, we first detected this massive infection. Further investigation revealed that the campaign was initially distributed via popular torrent trackers. Trojanized versions of popular games—such as BeamNG.drive, Garry’s Mod, Dyson Sphere Program, Universe Sandbox, and Plutocracy—were designed to launch a sophisticated infection chain, ultimately deploying a miner implant. These malicious releases were created in advance and uploaded around September 2024.

    Infection timeline

    Although the malicious releases were published by different authors, they were all cracked the same way.

    Malicious torrent available for download

    Among the compromised installers are popular simulator and sandbox games that require minimal disk space. Below is the distribution of affected users by game as of January 2025:

    Infected users per game (download)

    These releases, often referred to as “repacks”, were usually distributed in an archive. Let’s now take a closer look at one of the samples. Upon unpacking the archive, we found a trojanized installer.

    Technical details

    Trojanized installer

    After launching the installer (a Windows 32-bit GUI executable), we were welcomed with a GUI screen showing three options: install the game, choose the language, or quit.

    Installer screen

    This installer was created with Inno Setup. After decompiling the installer, we examined its code and found an interesting functionality.

    Decompiled installer code

    This code is responsible for extracting the malicious files used in this attack. First, it decrypts unrar.dll using the DECR function, which is a proxy for the RARExtract function within the rar.dll library. RARExtract decrypts unrar.dll using AES encryption with a hard-coded key, cls–precompx.dll. Next, additional files from the archive are dropped into the temporary directory, and execution proceeds to the RARGetDllVersion function within unrar.dll.

    Unrar.dll dropper

    First of all, the sample runs a series of methods to check if it’s being launched in a debugging environment. These methods search for debugger and sandbox modules injected into processes, and also check the registry and filesystem for certain popular software. If such software is detected, execution immediately terminates.

    Anti-debug checks example

    If the checks are passed, the malware executes cmd.exe to register unrar.dll as a command handler with regsvr32.exe. The sample attempts to query the following list of sites to determine the user’s IP address.

    This is done to identify the infected user’s location, specifically their country. If the malware fails to detect the IP address, it defaults the country code to CNOrBY (meaning “China or Belarus”). Next, the sample sends a request to hxxps://pinokino[.]fun/donate_button/game_id=%s&donate_text=%s with the following substitutions:

    • game_id = appended with DST_xxxx, where x represents digits. This value is passed as an argument from the installer; in this campaign, we discovered the variant DST_1448;
    • donate_text = appended with the country code.

    After this generic country check, the sample collects a fingerprint of the infected machine. This fingerprint consists of various parameters, forming a unique identifier as follows:

    This fingerprint is then encoded using URL-safe Base64 to be sent successfully over the network. Next, the malware retrieves MachineGUID from HKLMSoftwareMicrosoftCryptography and calculates its SHA256 checksum. It then collects 10 characters starting from the 20th position ( SHA256(MachineGUID)[20:30]). This hexadecimal sequence is used as the filename for two newly created files: %SystemRoot%%hash%.dat and %SystemRoot%%hash%.efi. The first file contains the encoded fingerprint, while the second is an empty decoy. The creation time of the .dat file is spoofed with a random date between 01/01/2015 and 12/25/2021. This file stores the Base64-encoded fingerprint.

    After this step, unrar.dll starts preparing to drop the decrypted MTX64.exe to the disk. First, it generates a new filename for the decrypted payload. The malware searches for files in %SystemRoot% or %SystemRoot%Sysnative. If these directories are empty, the decrypted MTX64.exe is written to the disk as Windows.Graphics.ThumbnailHandler.dll. Otherwise, unrar.dll creates a new file and names it by choosing a random file from the specified directories, taking its name, trimming its extension and appending a random suffix from a predefined list. Besides suffixes, this list contains junk data, most likely added to evade signature-based detection.

    Suffix list and junk data

    For example, if the malware finds a file named msvc140.dll in %SystemRoot%, it removes the extension and appends the resulting msvc140 with handler.dll (a random suffix from the list), resulting in msvc140handler.dll. The malware then writes the decrypted payload to the newly generated file in the %SystemRoot% folder.

    After that, the sample opens the encrypted MTX64.exe and decrypts it using AES-128 with a hard-coded key, cls–precompx.dll.

    The loader also carries out resource spoofing. First of all, it scans the _res.rc file for DLL property names and values—such as CompanyName, FileVersion and so on—and creates a dictionary of (key, value) pairs. Then it takes a random DLL from the %SystemRoot% folder (exiting if nothing is found), extracts its property values using the VerQueryValueW WinAPI, and replaces the corresponding dictionary values. The resulting resources are embedded into the decrypted MTX64.exe DLL. This file is then saved under the name generated in the previous step. Finally, unrar.dll changes the creation time of the resulting DLL using the same spoofing method as for the fingerprint file.

    Spoofed resources

    The dropped DLL is installed using the following command:

    MTX64

    This DLL is based on a public project called EpubShellExtThumbnailHandler, a Windows Shell Extension Thumbnail Handler. This stage completely mimics the legitimate behavior up until the actual thumbnail handling. It gets registered as a .lnk (shortcut) file handler, so whenever a .lnk file is opened, the DLL tries to process its thumbnail. However, here the sample implements its own version of the GetThumbnail interface function, and creates a separate thread to perform its malicious activities.

    First, this thread writes the current date and month in dd–mm format to the %TEMP%time_windows_com.ini file. This stage then retrieves MachineGUID from HKLMSOFTWAREMicrosoftCryptography, calculates SHA256(MachineGUID)[20 : 30], just like unrar.dll did. After that, it checks %SystemRoot% for the .dat file with this name. The presence of this file confirms that the infection is uninterrupted, prompting the DLL to extract the fingerprint and make a query to the hard-coded threat actors’ domain in the following format, where the UID is the fingerprint’s SHA256 hash.

    The server sends back a JSON that looks like {‘code’:‘reg’}. After this, the DLL makes another query to the server with an additional field, data, which is the Base64-encoded fingerprint ( uid remains the same):

    Upon receiving this request, the server also sends a JSON. The malware checks its code field, which must be equal to either 322 or 200. If it is, the sample proceeds to extract the MD5 checksum from the flmd field in the same JSON and download the next-stage payload from the following link:

    Next, the sample calculates the MD5 checksum of the received payload (a kickstarter PE file), and checks this hash against the MD5 checksum from the JSON. If they match, the malware parses the PE structure to locate the Export Address Table, retrieves the kickstarter function address, and executes it.

    Kickstarter running

    Kickstarter

    The kickstarter PE has an encrypted blob in its resources. This stage reads the blob and stores it in a C++ vector of bytes.

    Resource reading

    After that, it chooses a random name for the payload using the same method as for MTX64.exe during the execution of unrar.dll. However, there is a difference: if nothing is found in %SystemRoot% or %SystemRoot%Sysnative, it chooses Unix.Directory.IconHandler.dll as a default file name. The payload is saved to %appdataRoamingMicrosoftCredentials%InstallDate%. To locate the InstallDate directory, the DLL retrieves the system installation date from the registry subkey HKLMSOFTWAREMicrosoftWindows NTCurrentVersionInstallDate.

    Then the blob is decrypted using the CryptoPP AES-128 implementation. The key consists of the sequence of bytes from x00 to x10. The decrypted contents are written onto the disk. This executable also spoofs its resources using the same method as for MTX64.exe, after which it executes the following command:

    The first argument is the system installation date, while the second one is the path to the dropped DLL. A scheduled task to register a server with regsvr32.exe is created, using the first argument as its name, with a suppressed warning, set to trigger at 00:00. The loader sends a GET request to the hard-coded address 45.200.149[.]58/conf.txt, implicitly setting the request header to User–Agent: StupidSandwichAgentrn.
    The loader then waits for a response from the server. If the response begins with act, the sample stops execution after creating the scheduled task. If the response is noactive, meaning the targeted device has not been registered previously, the sample tries to delete itself with the following command, which clears everything in the %temp% directory:

    Cleanup

    Unix.Directory.IconHandler.dll

    Subsequently, Unix.Directory.IconHandler.dll creates a mutex named com_curruser_mttx. If this mutex has already been created, execution stops immediately. Then the DLL searches for the %TEMP%_cache.binary file. If the sample can’t find it, it downloads the binary directly from 45.200.149[.]58 using a GET 44912.f request, with the same StupidSandwichAgent User-Agent header. This file is written to the temporary directory and then decrypted using AES-128 with the same key consisting of the x00–x10 byte sequence.

    The sample proceeds to open the current process, look for SeDebugPrivilege in the process token, and adjust it if applicable. We believe this is done to inject code into a newly created cmd.exe process. The author chose the easiest way possible, copying the entire open source injector, including its debug strings:

    Injector

    After injecting the code into the command interpreter, the sample enters an endless loop, continuously checking for taskmgr.exe and procmon.exe in the list of running processes. If either process is detected, the sample is shut down.

    Miner implant

    This implant is a slightly modified XMRig miner executable. Instead of parsing command-line arguments, it constructs a predefined command line.

    The last parameter is calculated from the CPU topology: the implant calls the GetSystemInfo API to check the number of processor cores. If there are fewer than 8, the miner does not start. Moreover, the attacker chose to host a mining pool server in their own infrastructure instead of using a public one.

    XMRig parses the constructed command line using its built-in functionality. The miner also creates a separate thread to check for process monitors running in the system, using the same method as in the previous stage:

    Anti-tracing

    Victims

    This campaign primarily targets regular users by distributing malicious repacks. Some organizations were also affected, but these seem to be compromised computers inside corporate infrastructures, rather than direct targets.

    Most of the infections have been observed in Russia, with additional cases in Belarus, Kazakhstan, Germany, and Brazil.

    Attribution

    There are no clear links between this campaign and any previously known crimeware actors, making attribution difficult. However, the use of Russian language in the PDB suggests the campaign may have been developed by a Russian-speaking actor.

    Conclusions

    StaryDobry tends to be a one-shot campaign. To deliver the miner implant, the actors implemented a sophisticated execution chain that exploited users seeking free games. This approach helped the threat actors make the most out of the miner implant by targeting powerful gaming machines capable of sustaining mining activity. Additionally, the attacker’s use of DoH helped conceal communication with their infrastructure, making it harder to detect and trace the campaign.

    Indicators of compromise

    File hashes

    15c0396687d4ff36657e0aa680d8ba42
    461a0e74321706f5c99b0e92548a1986
    821d29d3140dfd67fc9d1858f685e2ac
    3c4d0a4dfd53e278b3683679e0656276
    04b881d0a17b3a0b34cbdbf00ac19aa2
    5cac1df1b9477e40992f4ee3cc2b06ed

    Domains and IPs

    45.200.149[.]58
    45.200.149[.]146
    45.200.149[.]148
    hxxps://promouno[.]shop
    hxxps://pinokino[.]fun

    MIL OSI Economics –

  • MIL-OSI Russia: Sergey Netesov: “You have to root for the positive”

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    At the popular science marathon “Darwin Week”, a doctor of biological sciences, professor, academician of the Russian Academy of Sciences, head of the laboratory of bionanotechnology, microbiology and virology spoke with a report “Evolution of a set of respiratory infections” Faculty of Natural Sciences of NSU Sergey Netesov.

    Evolution of the virus

    In Russia, doctors register 28 to 33 million cases of acute respiratory infections every year, but these are official statistics. When seeing a patient, the doctor fills out a statistical form, which is sent for processing to the health authorities, where statistical data is collected. However, not everyone comes to see a therapist, especially if the disease is mild, preferring to endure it “on their feet” or use home remedies to fight the infection. Such patients are not included in these statistics. Therefore, experts assume that the actual number of cases exceeds the official data at least twice.

    Acute respiratory infections (ARI) are caused by viruses, bacteria, mycobacteria and mycoplasma. In addition, most likely not all pathogens of ARI in humans have been discovered yet.

    Previously, doctors officially diagnosed ARVI without specifying the pathogen and specifically – influenza viruses, and even then the diagnosis was made by the doctor, guided only by the symptoms observed in the patient, and the laboratory diagnostic methods that existed before the 2000s were lengthy, inaccurate and insensitive. More or less reliable test systems for diagnosing influenza viruses based on the polymerase chain reaction PCR method appeared only in the late 90s, and for diagnosing other pathogens – only in the last 5-10 years. The data from a study of the causes of ARVI using the example of one of the counties of the state of Michigan (USA), published in 2002, surprised epidemiologists: influenza was not in the leading positions – its share was only 9%, while ordinary coronaviruses – 14%, rhinovirus – 34%. Unknown infections then accounted for 23%. Later, metapneumoviruses were identified, and their share in the structure of pathogens was about 10% in the category that was previously designated as “unknown infections.” Common coronaviruses, as a rule, have “overtaken” the flu in the share of infected people in the last 20-30 years, but did not pose a serious danger in the form of fatalities – until SARS-CoV-2 appeared, which took millions of lives around the world. At the initial stage of the pandemic, it posed a very serious danger with a mortality rate of up to 6%, but over time, due to the evolution into much less pathogenic variants, it almost equaled the mortality rate of the common flu – 0.1 – 0.2%.

    — The high mortality rate from the new coronavirus infection was due to vascular thrombosis, which was classified as a circulatory disease at the initial stages of the pandemic, and a cytokine storm — an overly aggressive immune response of the body to a viral infection. It manifests itself in different ways, depending on the chronic diseases of the infected person — in the form of circulatory diseases, pneumonia, complications of type 1 and type 2 diabetes, and sometimes — digestive organs. In the first six months of the pandemic, there were no reliable diagnostics for SARS-CoV-2 markers. Partly due to this, some cases of death from the new coronavirus infection were attributed to serious chronic diseases that the deceased patients suffered from – diseases of the circulatory system, respiratory system, endocrine system, etc. In addition, unlike most respiratory diseases, people died from the new coronavirus not during the first two weeks of the disease, but within a month or two, so it was believed that the patient’s death was the result of complications rather than an acute viral disease, explained Sergei Netesov.

    Over the past few years, the deadly coronavirus has evolved towards changing its antigenic properties and reducing pathogenicity, and is no longer as dangerous in terms of mortality as before. Large-scale vaccination of the population, as well as the immunity formed in those who have recovered, have also had an effect, but in terms of morbidity, this virus still sometimes outpaces the combined influenza viruses A and B, and mortality from it has not been reduced to zero. Last fall, 20-30 people died from Covid every week in Russia. These were mainly elderly people with serious chronic diseases.

    Currently, another pathogen of ARVI, the respiratory syncytial virus, is no less dangerous in terms of severe progression and mortality. In certain periods of the 2023-2024 season, its share in the causes of the overall incidence of ARVI was 40%. Scientists and doctors have long found out that it is one of the main causes of severe pneumonia in children and the elderly. Since last year, trials of vaccines against this virus have begun in the European Union and the United States.

    In the winter of 2024, rhinovirus was the leading cause of acute respiratory viral infections in Russia. It has unpleasant symptoms because it causes inflammation of the nasal sinuses, but does not pose a danger to humans.

    — Only in rare cases is the cause of ARI or ARVI only one pathogen, more often two or three. It often happens that the same patient has one or two ARI pathogens — viral and one — bacterial. In this case, the picture of the disease becomes complex. Viral infections, as a rule, prepare the ground for infection with pathogenic bacteria, — said Sergey Netesov.

    Reliable protection

    To reduce the risk of severe respiratory viral infections, it is necessary to get vaccinated in a timely manner, and it is advisable for people at increased risk of severe acute respiratory infections to wear medical masks in public places. Sergei Netesov also spoke about the influenza vaccines used in Russia. According to him, it is necessary to choose, if possible, four-component drugs with a share of 15 micrograms of antigens of each subtype of the virus. At the same time, the probability of severe disease is reduced by about 20-30 times. And for unvaccinated people, increased risks of severe acute respiratory infections remain for people with impaired immune systems, diabetics and representatives of other risk groups.

    In favor of the effectiveness of masks, Sergei Netesov noted that the mask will not hold a single viral particle, because the size of its pores is too large for this. But viruses in the form of single particles do not fly through the air. They move on microdroplets of fluids in our bodies, released from the body when talking, singing, coughing or sneezing. But these drops have a larger diameter and do not pass through the pores of the mask. And even the most primitive mask holds about 75-80% of such particles, of course, if you cover both your mouth and nose with it. And for infection, the size of the pathogen dose that a person receives is very important. Reducing this dose often leads to zeroing out the infection or getting a very small dose – then the disease does not develop quickly, and the body copes with it much easier.

    The flu virus is constantly evolving, and this process is aimed at an important goal for it – to “break through” the previous immunity and infect as many carriers – susceptible people – as possible.

    In early 2024, several publications were published in the United States stating that cow milk yields in some regions of the country had begun to decline; later, veterinarians identified the H5N1 subtype of avian influenza in them. The influenza virus of this subtype was first isolated not only from birds, but also from some sick people in 1997 in Singapore, Hong Kong, and Vietnam. The virus also affected people, with a very high mortality rate. The reason was soon revealed: in most cases, it was a rare mutation characteristic of the inhabitants of these countries, in which one of the receptors in their lungs turned out to be similar to a similar receptor in birds. This feature is not typical for residents of other countries. And so in 2024, the virus spread not only among birds, but acquired new mutations and “switched” to cattle and more. Several dead cats that had previously drunk cow’s milk were found near the barns with sick cows. The cause of their death, like the illness of the cows on the farm, was the avian influenza virus. And although humans and animals do not have many common infections, this virus has become one of them. It turned out that at the end of 2023, the virus acquired mutations that allowed it to move from birds to cattle. From the beginning of 2024 to February 2025, 68 cases of infection of dairy and poultry workers were noted worldwide. It seems that this flu virus has not yet spread widely, but careful monitoring of its evolution is necessary.

    Race for survival

    Scientists believe that the more common this subtype of the virus becomes, the more likely it is to acquire a combination of mutations that will increase the risk of infection in humans. On the other hand, this subtype of flu has been circulating in various bird species and causing rare sporadic infections in humans for more than two decades, but so far there has been no pandemic. This is one of those cases where a pandemic could start next week or never.

    — Not only pathogens of viral diseases evolve, but also our immune system. It is a kind of race. Therefore, it is necessary to study not only pathogens, but also the parameters of our immunity. Increase the number and effectiveness of vaccines, increase the volume of vaccination. This really improves the quality of life of the population and increases its duration. At the same time, long-term monitoring studies are needed to study the occurrence of pathogens, their molecular genetic diversity and molecular evolution, including drug resistance. Russia has the necessary instrumental and material-reactive bases, including its own high-tech production of many (but not all) modern vaccines and diagnostics. But their wider implementation in practice is required. It is also necessary to develop new vaccines against a number of viral and bacterial pathogens. Unfortunately, so far the diagnostic algorithms in our compulsory insurance medicine have been worked out to a minimum — primarily due to underfunding. But it is possible to distinguish a bacterial infection from a viral one using a very simple test for the content of procalcitonin and some other markers in the blood, said Sergei Netesov.

    The scientist also noted that when fighting a viral disease, regardless of what virus caused it, the patient’s psychological state and the support of loved ones are also important. It is important to be sick in a good mood, then recovery will be faster.

    — You should always be positive when you are sick! A person with a bad emotional background is objectively sicker. You need to look to the future with confidence and optimism and tell your body: “Get well.” The human body is a very complex unified system, where all components influence each other. In this case, you need to establish positive feedback between the body and the brain, try to create a good mood for yourself and, of course, follow all the doctor’s recommendations, — said Sergey Netesov.

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

    MIL OSI Russia News –

  • MIL-OSI: NFG Acquires Controlling Stake in Cayman-Based Kessner Capital Management Ltd., Expanding African Investment Portfolio

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 18, 2025 (GLOBE NEWSWIRE) — NFG SA (“NFG”), a Swiss private investment firm, today announced that it has signed an agreement to acquire a 76% controlling stake in Kessner Capital Management Ltd. (“Kessner”), a Cayman-based alternative investment management company specializing in debt solutions for African markets. Completion of the transaction is subject to customary regulatory approvals. This acquisition is accompanied by an investment of up to $50 million, aimed at expanding Kessner’s tailored debt solution across the continent.

    Economic projections for Africa show a GDP increase from 3.4% in 2024 to 4.0% by 2026, spurred by growth in key economies including Egypt, Nigeria, and South Africa. The African Continental Free Trade Area (AfCFTA) is enhancing trade and investment across the continent, presenting new opportunities for Kessner to expand its market presence.

    NFG, with offices in Geneva, London, and Los Angeles, is a global investment firm specializing in insurance and reinsurance, financial services, asset management, energy, and real estate. The firm operates extensively across Europe, the USA, the Caribbean, Africa, and the Asia Pacific region.

    This acquisition reflects a strategic enhancement of NFG’s global investment portfolio and a commitment to contributing positively to Africa’s economic development.

    Keith D. Beekmeyer, Chairman and CEO of NFG, commented “NFG and its affiliated companies have deep experience operating in emerging markets and specifically, the African markets. By combining and leveraging the strengths of both Kessner and NFG, I am confident we can position Kessner as a leading provider of alternative debt solutions for companies across Africa.”

    Bruno-Maurice Monny, Managing Partner of Kessner, remarked “With NFG’s resources and global reach, coupled with their anchor capital towards our new fund strategy, we are positioned to be the premier capital partner for African businesses. This partnership will enhance our ability to support and scale the region’s most promising companies.”

    NFG recently announced its strategic investment from Beverly Hills, California based private equity firm, NMS Capital Group, which values NFG at approximately $2.5 billion.

    About NFG SA
    NFG SA is a global private investment firm specializing in private equity and structured finance investments in companies across the insurance, financial services, energy, infrastructure, and real estate sectors. NFG focuses on transformative business combinations within North America, Europe, Africa, and the Middle East, establishing a strategic international presence. NFG was originally founded by Keith Beekmeyer and Andy Bye in 2017, emerging from the insurance industry to address the financing needs of underbanked companies. The firm quickly expanded its capabilities through key acquisitions, including a dedicated reinsurance company, asset manager and a Lloyd’s insurance brokerage, enhancing its position within the sector. For more information, please visit www.nfgsa.com.

    About Kessner Capital Management Ltd.

    Kessner Capital Management Ltd. is an alternative investment management company focused on providing innovative investment solutions aimed at providing exposure to African markets. The firm is led by a management team with over 150 years of combined management experience. For more information, please visit www.kessner.co.uk.

    NFG Media Contact
    Jessica Starman
    media@elev8newmedia.com

    The MIL Network –

  • MIL-OSI: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 9(4) AND (5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    18 February 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order.

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which extends the Offer Period for the Offer. The Supplement has been approved by the Danish FSA on 18 February 2025 in accordance with section 9(4) and section 9(5) of the Danish Takeover Order.

    Under the Offer document, the offer period is set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”).

    With the Supplement, Nykredit extends the Initial Offer Period, such that the Offer will expire on 20 March 2025 at 23:59 (CET). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 March 2025 at 23:59 (the “Extended Offer Period”).

    The purpose of the extension is to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. The process to obtain such approval from the Danish Competition and Consumer Authority is proceeding as planned.

    If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the Extended Offer Period further.

    The extension of the Initial Offer Period entails that the expected completion of the Offer and settlement of the Offer Price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 March 2025.

    At the time of this announcement, Nykredit holds 32.44 per cent of the shares in Spar Nord Bank, and on 4 February 2025 Nykredit released an announcement to the effect that a preliminary compilation of the acceptances that Nykredit is aware of indicates that the 67 per cent acceptance limit of the Offer has been achieved. The final result of the Offer will be determined on expiry of the Offer Period and published in accordance with section 21(3) of the Danish Takeover Order.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9 B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with Supplement) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with Supplement) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining announcement, the Supplement, the Offer Document, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to Shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

    1 Executive Order no. 636 of 15 May 2020

    Attachment

    The MIL Network –

  • MIL-OSI: Correction: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 9(4) AND (5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    18 February 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order.

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which extends the Offer Period for the Offer. The Supplement has been approved by the Danish FSA on 18 February 2025 in accordance with section 9(4) and section 9(5) of the Danish Takeover Order.

    Under the Offer document, the offer period is set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”).

    With the Supplement, Nykredit extends the Initial Offer Period, such that the Offer will expire on 20 March 2025 at 23:59 (CET). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 March 2025 at 23:59 (the “Extended Offer Period”).

    The purpose of the extension is to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. The process to obtain such approval from the Danish Competition and Consumer Authority is proceeding as planned.

    If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the Extended Offer Period further.

    The extension of the Initial Offer Period entails that the expected completion of the Offer and settlement of the Offer Price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 March 2025.

    At the time of this announcement, Nykredit holds 32.44 per cent of the shares in Spar Nord Bank, and on 4 February 2025 Nykredit released an announcement to the effect that a preliminary compilation of the acceptances that Nykredit is aware of indicates that the 67 per cent acceptance limit of the Offer has been achieved. The final result of the Offer will be determined on expiry of the Offer Period and published in accordance with section 21(3) of the Danish Takeover Order.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9 B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with Supplement) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with Supplement) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining announcement, the Supplement, the Offer Document, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to Shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

    1 Executive Order no. 636 of 15 May 2020

    Attachments

    The MIL Network –

  • MIL-Evening Report: The Reserve Bank has cut rates for the first time in four years. But it is cautious about future cuts

    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

    The Reserve Bank cut official interest rates on Tuesday, the first decrease in four years, saying inflationary pressures are easing “a little more quickly than expected”.

    However, the central bank said the outlook for economic activity and inflation remains uncertain, with a risk that household spending may be slower than expected.

    The reduction in the cash rate target will come as a relief to the one-third of households with a mortgage. It will help to ease the cost of living crisis for them.

    The cut from a 13-year high of 4.35% to 4.1% had been widely expected by economists and financial markets.

    The interest rate cut may help tip the scales for the government to call an early election. But recent opinion polls suggest the government still has work to do to put itself in a winning position.

    Announcing its decision, the Reserve Bank said it had “more confidence that inflation is moving sustainably towards the midpoint of the 2-3% target”.

    All four of the major banks swiftly passed on the cut in official rates to mortgage-holders. The average new housing loan is $666,000. Reducing the interest rate on this by 0.25% will mean $110 less a month in repayments (assuming a standard 30-year loan).

    It is the first change in the cash rate since November 2023 and marks the first small reversal of 13 rate increases. The central bank had hiked interest rates quickly from the near-zero emergency level during the COVID epidemic and lockdowns.

    Why did the Reserve Bank cut now?

    The interest rate cut comes after headline inflation eased, to 2.4% during 2024, within the Bank’s 2-3% inflation target range.

    However, the Bank’s preferred measure of underlying inflation, the “trimmed mean”, which excludes temporary factors such as the government’s electricity rebates, rose by 3.2% during 2024. This is just above the target range but a little less than the 3.4% the Bank had been forecasting.

    “We cannot declare victory on inflation just yet,” Reserve Bank Governor Michele Bullock told a press conference after the decision. “It’s not good enough for it to be back in the target range temporarily, the board needs to be confident it’s returning to the target range sustainably.”



    Read more:
    Lower inflation in the December quarter boosts chances of an interest rate cut

    The RBA and the election

    In its first meeting for the year, the Reserve Bank board rejected the notion that they should hold off changing rates because an election is approaching.

    While cutting interest rates will suit one side of politics, not cutting would have benefited the other. The impartial approach is to take the same decision as if no election were looming.

    As then RBA governor Glenn Stevens said in 2007 after raising rates during an election campaign:

    I do not think we ever could accept the idea that in an election year — which, after all, is one year out of three — you cannot change interest rates.

    How does the Reserve Bank compare with other central banks?

    Some central banks in comparable economies had already started lowering interest rates and have cut them by more than the RBA. But that is because most had raised interest rates by more.

    The Reserve Bank adopted a strategy of being more patient in returning inflation to its target, so as to limit the increase in unemployment.

    The strategy has worked. Unemployment in Australia peaked at 4.2% and is now 4.0%. By contrast, in New Zealand it is over 5% and in the euro area and Canada it is over 6%.

    The Reserve Bank hasn’t received the credit it deserves for this strong performance.

    Where to from here?

    This is the last meeting of the current Reserve Bank board. It is being replaced by a new monetary policy committee, and a separate governance board as part of an overhaul of the bank. Two new members will replace two members of the current board for its next meeting on April 1.

    The RBA board’s statement said that it “remains cautious on prospects for further policy easing”. This is central bank-speak for not rushing into further interest rate cuts.

    The RBA also noted that “geopolitical and policy uncertainties are pronounced”. This is a reference to the economic fallout from United States President Donald Trump’s policies on trade and slashing jobs.

    His proposed tariffs and deportations will increase inflation in the US and make US interest rates higher than they otherwise would be.



    Read more:
    What would a second Trump presidency mean for the global economy?

    But this does not mean interest rates need to be higher here. Indeed, a trade war would weaken the global economy, which could lead to less inflation in Australia.

    The Reserve Bank also released its updated forecasts. These show the underlying inflation rate dropping to 2.7% by June and then staying around there through 2026 and 2027.

    Unemployment is low at 4%, and below what the Bank has previously regarded as “full employment”. But it is not leading to any surge in wage growth.

    Indeed, the Bank commented that wages growth has been a little lower than it had forecast. Inflationary expectations are also well contained.

    This offers hope there may be at least one further interest rate cut later this year (and the Reserve Bank’s forecasts assume this). But borrowers should not get their hopes up that interest rates will revisit the COVID-era lows. That is very unlikely.

    John Hawkins was formerly a senior economist at the Reserve Bank.

    – ref. The Reserve Bank has cut rates for the first time in four years. But it is cautious about future cuts – https://theconversation.com/the-reserve-bank-has-cut-rates-for-the-first-time-in-four-years-but-it-is-cautious-about-future-cuts-249704

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Padilla, Schiff, EPW Democrats Demand Answers After Trump Illegally Pulls Zero-Emission Vehicle Infrastructure Funding

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Schiff, EPW Democrats Demand Answers After Trump Illegally Pulls Zero-Emission Vehicle Infrastructure Funding

    California was set to receive $384 million from National Electric Vehicle Infrastructure program over 5 years
    WASHINGTON, D.C. — U.S. Senators Alex Padilla and Adam Schiff (both D-Calif.), members of the Senate Committee on Environment and Public Works (EPW), joined all Democratic members of the Committee in demanding answers from Department of Transportation (DOT) Secretary Sean Duffy about the abrupt cutoff of funds for the National Electric Vehicle Infrastructure (NEVI) Formula Program. The Joint Office of Energy and Transportation approved California’s five-year NEVI Deployment Plan on September 29, 2023, granting the state $384 million for critical zero-emission vehicle infrastructure along its highways, but the Trump Administration has illegally frozen the NEVI program.
    The NEVI program — included in the Bipartisan Infrastructure Law — provides funding directly to states for installing public zero-emission vehicle charging stations, which would lower fuel costs for families, reduce U.S. dependence on fossil fuels, and create construction jobs nationwide. In a memo to state departments of transportation, the Federal Highway Administration announced states will no longer have access to $3 billion in previously approved federal funds for future construction projects.
    “All 50 states plus the District of Columbia and Puerto Rico invested time and resources to prepare their plans, and all plans were approved by the U.S. Department of Transportation. Your abrupt cutoff of NEVI funding disregards these efforts and subjects states and their partners to delay, uncertainty, and bureaucratic red tape. It also threatens the jobs, innovation, and environmental benefits that this program was ready and authorized to deliver through implementation,” wrote the Senators. 
    “Unfortunately, your refusal to release NEVI funds to states is part of a larger, ongoing pattern by the Trump Administration of subverting the Constitution’s dedication to Congress of authority over federal spending,” continued the Senators. “As sweeping and vague as recent Executive Orders may be in expressing the administration’s policy preferences, they do not provide license under the Constitution to cut off funding for programs authorized and funded by Congress and enacted into law, and upon which our sovereign states have justifiably relied.”
    The NEVI program invests in states to accelerate the nationwide buildout of public zero-emission vehicle charging infrastructure. States have already awarded more than $510 million in NEVI funding to construct charging ports, with more contracts ready to move forward. By pulling this funding, the Trump Administration is jeopardizing planned construction that could establish charging stations every 50 miles along 70 percent of major travel corridors by the end of 2055. Canceling this funding would leave many families, particularly in rural communities, without access to affordable zero-emission vehicle chargers.
    Expanding access to reliable chargers will give Americans more choices in vehicles by making clean energy options more practical and by reducing dependence on expensive fossil-fueled cars. If implemented, NEVI investments will help curb the carbon pollution driving climate change, which poses an increasing threat to the U.S. economy and to American families through higher prices for groceries, insurance, and more.
    In addition to Senators Padilla and Schiff, Senators Sheldon Whitehouse (D-R.I.), Angela Alsobrooks (D-Md.), Lisa Blunt Rochester (D-Del.), Mark Kelly (D-Ariz.), Edward J. Markey (D-Mass.), Jeff Merkley (D-Ore.), and Bernie Sanders (I-Vt.) also signed the letter.
    The Senators requested documents and information by February 18, 2025, and an immediate reinstatement of NEVI funding.
    Senator Padilla has consistently fought to reduce emissions across the transportation and freight sectors. Last year, Padilla successfully pushed the Biden Administration to launch a National Zero-Emission Freight Corridor Strategy to guide the national deployment of zero-emission medium- and heavy-duty freight transportation vehicle (ZE-MHDV) charging and fueling infrastructure, which followed his efforts to call on the Joint Office to prioritize the deployment of ZE-MHDV as part of its core mission.
    Since 2024, Senator Padilla has announced over $440 million for zero-emission vehicle charging and fueling infrastructure from the Charging and Fueling Infrastructure Grant Program. In 2023, Padilla, Senator Cory Booker (D-N.J.), and Representative Nanette Díaz Barragán (D-Calif.-44) introduced the bicameral EVs for All Act, legislation that would increase access to zero-emission vehicles for residents of public housing across the nation.
    Full text of the letter is available here and below:
    Dear Secretary Duffy,
    We write in strong opposition to your cutoff of funding for the National Electric Vehicle Infrastructure (NEVI) Formula Program.  This action shows blatant disrespect for the law and for constitutional order.  
    Established in the bipartisan infrastructure law, the NEVI program provides funding for every state in the nation.  As a condition for using this funding, the Biden Administration required each state department of transportation to submit for approval an EV Infrastructure Deployment Plan—a responsible step to encourage states to think carefully about how they spend their funds under this program.  All 50 states plus the District of Columbia and Puerto Rico invested time and resources to prepare their plans, and all plans were approved by the U.S. Department of Transportation.  Your abrupt cutoff of NEVI funding disregards these efforts and subjects states and their partners to delay, uncertainty, and bureaucratic red tape.  It also threatens the jobs, innovation, and environmental benefits that this program was ready and authorized to deliver through implementation.
    Unfortunately, your refusal to release NEVI funds to states is part of a larger, ongoing pattern by the Trump Administration of subverting the Constitution’s delegation to Congress of authority over federal spending.  As sweeping and vague as recent Executive Orders may be in expressing the administration’s policy preferences, they do not provide license under the Constitution to cut off funding for programs authorized and funded by Congress and enacted into law, and upon which our sovereign states have justifiably relied.  
    For these reasons, we urge you to retract your February 6 letter and to implement the law according to your responsibilities.  In addition, in order to assist us in understanding how and why you reached this decision hastily and in blatant disregard of the law, please respond to the following questions and requests for production of documents by no later than February 18, 2025:
    1. On what legal grounds does the Department of Transportation (DOT) believe it has the authority to cancel all funding nationwide for the NEVI program?  Please cite to specific statutory or regulatory authority that permits DOT to cancel such a Congressionally-authorized appropriation.  We note that executive orders do not qualify as such statutory or regulatory authority, as they are neither statutes nor regulations.
    2. Did any individual or office within the White House, the Office of Management and Budget (OMB), or the so-called “Department of Government Efficiency” specifically instruct you to cancel funding for the NEVI program?  If so, who did?
    3. Please provide all emails dated November 5, 2024, through February 6, 2025, among and between you, DOT officials, the Trump-Vance Transition Team, the White House, Elon Musk, anyone working for or affiliated with the so-called “Department of Government Efficiency,” Russell Vought, and Office of Management and Budget officials—including but not limited to all “special government employees”—concerning the NEVI program.
    Thank you for your attention to this matter.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI Economics: African Union Summit: African Development Bank President Highlights a Decade of Economic Transformational Impact

    Source: African Development Bank Group

    African Development Bank Group President Dr. Akinwumi A. Adesina, delivered a compelling farewell address to Heads of State and Government at the 38th African Union Summit, highlighting a decade of remarkable achievements by the Bank in driving Africa’s economic transformation. Adesina’s participation at the august continental gathering in Addis Ababa ended on a high note as African leaders considered and endorsed four Bank-led initiatives including the drive to connect 300 million Africans to electricity by 2030, measuring Africa’s green wealth as part of its GDP, a $20 billion facility to provide Africa with a financial buffer and a roadmap for the continent to achieve inclusive growth and rapid sustainable development.

    Adesina, who is also the Chairman of the Group’s Boards of Directors, underscored the impact of the Bank’s High 5s Agenda—Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa—which has impacted more than half a billion lives across the continent.

    “It has been an unprecedented partnership to advance the goal of the African Union towards achieving Agenda 2063: the Africa we want,” said Adesina who in February 2022, became the first president of the Bank Group to address the AU Summit.

    During the final day of the assembly, several African governments and AU officials paid tribute to Dr. Adesina for his exceptional leadership of the Bank and strong global advocacy for Africa, He ends his tenure as the Bank Group’s president on 1st September 2025.

    The February 15–16 Summit saw the election of Djibouti’s Foreign Minister Mahmoud Ali Youssouf as Chairperson of the African Union Commission, taking over from Moussa Faki Mahamat. Algeria’s Ambassador, Salma Malika Haddadi, was elected the Commission’s Deputy Chairperson.

    African Development Bank Group President Dr. Akinwumi Adesina, who is also the Chairman of the Group’s Boards of Directors, underscored the impact of the Bank’s operations, which have impacted more than half a billion lives over the past decade.

    Reflecting on his tenure at the helm of the African Development Bank, Dr. Adesina said the Bank has transformed 515 million lives, including 231 million women, over the past decade:

    • 127 million people gained access to better services in terms of health.
    • 61 million people gained access to clean water.
    • 33 million people benefited from improved sanitation.
    • 46 million people gained access to ICT services, and
    • 25 million people gained access to electricity.

    He cited the landmark Africa Energy Summit held in Tanzania in January, where 48 nations signed the Dar Es Salaam Declaration to adopt bold policies in support of an initiative by the World Bank and the African Development Bank to extend electricity access to 300 million Africans by 2030. That meeting, attended by 21 heads of state, secured $48 billion in commitments from the two institutions and an additional $7 billion from other development partners.

    The Addis Ababa Summit endorsed the Dar Es Salaam Energy Declaration, the Baku Declaration by African Heads of State on Measuring the Green Wealth of Africa. The Assembly also adopted the African Financing Stability Mechanism, a groundbreaking initiative by the African Development Bank to provide $20 billion in debt refinancing for African nations alongside  the Strategic Framework on Key Actions to Achieve Inclusive Growth and Sustainable Development in Africa report which  outlines key actions required to enable Africa to achieve, and sustain an annual growth rate of at least 7% of GDP over the next five decades.

    African Heads of State and Government display copies of the Dar es Salaam Energy Declaration at the closing session of the Africa Energy Summit, 28 January 2025.

    On food security, Adesina cited the Bank’s Technologies for African Agricultural Transformation (TAAT), the Dakar 2 Food Summit that mobilized $72 billion in 2023, and the $1.5 billion Africa Emergency Food Production Facility that was launched in May 2022 to avert a major food and fertilizer crisis triggered by global conflicts.

    “The African Development Bank accelerated food production in Africa. Over 101 million people became food secure. We mobilized $72 billion to implement the food and agriculture delivery compacts across the continent,” he stressed. With the support of the Bank, Ethiopia has achieved self-sufficiency in wheat production within four years and is now a wheat-exporting nation.

    A Decade of Transformative Impact

    With a strong focus on job creation, the Bank has trained 1.7 million youth in digital skills and is rolling out Youth Entrepreneurship Investment Banks to drive youth-led economic growth. “Our goal is simple: create youth-based wealth across Africa,” Adesina reiterated.

    Additionally, the Affirmative Finance Action for Women in Africa (AFAWA) initiative has provided $2.5 billion in financing to over 24,000 women-owned businesses, said Adesina.

    “The African Development Bank accelerated food production in Africa. Over 101 million people became food secure. We mobilized $72 billion to implement the food and agriculture delivery compacts across the continent,” said Dr. Adesina.

    Over the past decade, the African Development Bank has invested over $55 billion in infrastructure, making it the largest multilateral financier of African infrastructure.

    The Bank has also prioritized healthcare, committing $3 billion in quality healthcare infrastructure and another $3 billion for pharmaceutical development, including establishing the Africa Pharmaceutical Technology Foundation.

    Historic Financial Mobilization for Africa

    Under Adesina’s presidency, the Bank achieved its largest-ever capital increase, growing from $93 billion in 2015 to $318 billion currently. The most recent replenishment of the African Development Fund, the Bank Group’s concessional window, raised a record $8.9 billion for Africa’s 37 low-income countries, setting the stage for a target of $25 billion for its upcoming 17th replenishment.

    The Africa Investment Forum, a joint effort with eight other partner institutions, has also mobilized over $200 billion in investment commitments, reinforcing Africa as a leading investment destination.

    The Africa Investment Forum, a joint effort with eight other partner institutions, has mobilized over $200 billion in infrastructure investment commitments. (Picture: Africa Investment Forum Founding Partners and other officials during the Opening Session of the Africa Investment Forum 2024 Market Days, Rabat, 4 December 2024.)

    As he bade farewell, the outgoing Bank chief expressed gratitude to the African Heads of State, the African Union Commission, regional economic communities, and the people of Africa for their unwavering support.

    “As today will be my final attendance of the AU Summit as President of the African Development Bank, I would like to use this opportunity to immensely thank your Excellencies Heads of State and Government for your extraordinary support over the past ten years. I am very grateful for your always being there for the African Development Bank—your Bank. I am very grateful for your kindness, friendship, and partnership as we forged global alliances to advance the continent’s interest around the world,” he said. 

    The 2025 Summit under the theme, “Justice for Africans and People of African Descent Through Reparations,” drew global political leaders and other dignitaries, including UN Secretary-General António Guterres, and the Prime Minister of Barbados, Mia Mottley.

    UN Secretary-General António Guterres reiterated calls for reform of the international financial architecture.

    Guterres reiterated calls for reform of the international financial architecture, which is hampering the development of many African economies, beset by expensive debt repayments and high borrowing costs, which limits their capacity to invest in education, health and other essential needs.

    Prime Minister Mottley emphasized Africa’s strategic role in shaping global economic trends, particularly highlighting the continent’s control of 40% of the world’s minerals. She stressed the importance of addressing emerging challenges like artificial intelligence, urging African nations to take a proactive role in technological advancement rather than becoming “victims of technology.”

    She also underscored the urgency of removing artificial barriers between Africa and the Caribbean, calling for the elimination of transit visa requirements to boost trade and integration. Mottley echoed demands for reparatory justice, noting that both the Caribbean and Africa began their independence journey with “chronic deficits” in resources, fairness, and opportunity.

    Opening the Summit on Saturday, Ethiopian Prime Minister Dr. Abiy Ahmed urged continued unity among member countries in addressing the challenges.

    Ethiopian Prime Minister Dr. Abiy Ahmed urged continued unity in addressing Africa’s challenges

    “In a world marked by rapid change and multiple challenges, we find ourselves at the crossroads of uncertainty and opportunity. This movement calls upon us to strengthen our collective resolve, embrace resilience and foster unity across Africa”, he said.

    MIL OSI Economics –

  • MIL-OSI USA: Gov. Pillen Extends Condolences Upon Death of Trooper Kyle McAcy

    Source: US State of Nebraska

    . Pillen Extends Condolences Upon Death of Trooper Kyle McAcy

     

    LINCOLN, NE – Governor Jim Pillen and First Lady Suzanne are extending their condolences to the family, friends and colleagues of Nebraska State Patrol (NSP) Trooper Kyle McAcy. He was killed this morning in the line of duty while responding to a crash on I-80 between Ashland and Greenwood.  Gov. Pillen said:

    “We are deeply saddened, and our thoughts and prayers are with the family and friends of Trooper McAcy. His loss is a reminder of the call to service bravely demonstrated by our law enforcement personnel every day. We know Trooper McAcy’s death will be felt deeply by his NSP family.”

    Gov. Pillen will direct flags to be flown at half-staff on the day of Trooper McAcy’s interment. That order will be released, pending the announcement of funeral arrangements.

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Pillen Touts Support for Gun Industry and Owner Rights at Annual SHOT Show

    Source: US State of Nebraska

    . Pillen Touts Support for Gun Industry and Owner Rights at Annual SHOT Show

    LINCOLN, NE – The influence of special interest groups, state support for Second Amendment rights and the impact of legislation on the firearm and ammunition industry featured prominently in a panel discussion involving Governor Jim Pillen and other participants at the 2025 Shot Show in Las Vegas. Sponsored by the National Shooting Sports Foundation (NSSF), the multi-day event includes education, training, exhibits, vendors and panel presentations.

    “This event serves as a tremendous forum for building relationships between great businesses, leaders, policy makers and other stakeholders,” said Gov. Pillen. “The attendance and engagement are further signs of how this industry continues to grow. We appreciate the companies from Nebraska who are represented at the SHOT Show, and we want to let others know that Nebraska is a welcoming place to do business.”

    Gov. Pillen joined a group of Republican governors in a Q&A session covering a wide range of topics, including their reactions to ballot initiatives targeting the firearms industry, especially in certain states.

    “Nebraska is blessed to be filled with people rooted in strong values, who support the Constitution and who elect people who do the same,” noted Gov. Pillen. “But there is no doubt that out-of-state money can buy results, just not the results that represent the beliefs of the individuals who live within the state.”  

    Governors were also asked to weigh in on legislation aimed at both protecting the privacy of gun owners and businesses, as well as legislation that would allow institutions, like banks, to access information relative to firearm purchases. States are now enacting their own legislation to protect the firearm industry from discrimination, as well as the use of financial information collected from firearm buyers. Gov. Pillen said he supported the introduction of LB687 from Senator Dan Lonowski (District 33).

    “In Nebraska, we believe in the free marketplace, and we want to reduce mandates on businesses as much as possible. But at the same time, we should not have a state contract with a company that discriminates against the Second Amendment. I’m looking forward to signing the Firearm Industry Nondiscrimination Act into law this session.”

    In addition to Gov. Pillen, other governors taking part in the forum included Gov. Brad Little (ID), Gov. Greg Gianforte (MT), Gov. Joe Lombardo of (NV), Gov.  Kevin Stitt (OK) and Gov. Mark Gordon (WY).

    2025 marked the 47th annual SHOT Show. Held once a year, this trade show is geared toward professionals in the shooting, hunting, outdoor and law enforcement industry. Participants hail from all 50 states and more than 119 countries.

    MIL OSI USA News –

  • MIL-Evening Report: Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating

    Source: The Conversation (Au and NZ) – By Matt Fitzpatrick, Professor in International History, Flinders University

    (From left to right): Neville Chamberlain, Édouard Daladier, Adolf Hitler, Benito Mussolini, and Italian Foreign Minister Galeazzo Ciano before signing the Munich Agreement, which gave the Sudetenland to Germany. German Federal Archives/Wikimedia Commons

    Ukraine has not been invited to a key meeting between American and Russian officials in Saudi Arabia this week to decide what peace in the country might look like.

    Ukrainian President Volodymyr Zelensky said Ukraine will “never accept” any decisions in talks without its participation to end Russia’s three-year war in the country.

    A decision to negotiate the sovereignty of Ukrainians without them – as well as US President Donald Trump’s blatantly extortionate attempt to claim half of Ukraine’s rare mineral wealth as the price for ongoing US support – reveals a lot about how Trump sees Ukraine and Europe.

    But this is not the first time large powers have colluded to negotiate new borders or spheres of influence without the input of the people who live there.

    Such high-handed power politics rarely ends well for those affected, as these seven historical examples show.

    1. The Scramble for Africa

    In the winter of 1884–85, German leader Otto von Bismarck invited the powers of Europe to Berlin for a conference to formalise the division of the entire African continent among them. Not a single African was present at the conference that would come to be known as “The Scramble for Africa”.

    Among other things, the conference led to the creation of the Congo Free State under Belgian control, the site of colonial atrocities that killed millions.

    Germany also established the colony of German South West Africa (present-day Namibia), where the first genocide of the 20th century was later perpetrated against its colonised peoples.

    How the boundaries of Africa changed after the Berlin conference.
    Wikimedia Commons/Somebody500

    2. The Tripartite Convention

    It wasn’t just Africa that was divided up this way. In 1899, Germany and the United States held a conference and forced an agreement on the Samoans to split their islands between the two powers.

    This was despite the Samoans expressing a desire for either self-rule or a confederation of Pacific states with Hawai’i.

    As “compensation” for missing out in Samoa, Britain received uncontested primacy over Tonga.

    German Samoa came under the rule of New Zealand after the first world war and remained a territory until 1962. American Samoa (in addition to several other Pacific islands) remain US territories to this day.

    3. The Sykes-Picot Agreement

    As the first world war was well under way, British and French representatives sat down to agree how they’d divide up the Ottoman Empire after it was over. As an enemy power, the Ottomans were not invited to the talks.

    Together, England’s Mark Sykes and France’s François Georges-Picot redrew the Middle East’s borders in line with their nations’ interests.

    The Sykes-Picot Agreement ran counter to commitments made in a series of letters known as the Hussein-McMahon correspondence. In these letters, Britain promised to support Arab independence from Turkish rule.



    Read more:
    What was the Sykes-Picot agreement, and why does it still affect the Middle East today?

    The Sykes-Picot Agreement also ran counter to promises Britain made in the Balfour Declaration to back Zionists who wanted to build a new Jewish homeland in Ottoman Palestine.

    The agreement became the wellspring of decades of conflict and colonial misrule in the Middle East, the consequences of which continue to be felt today.

    Map showing the areas of control and influence in the Middle East agreed upon between the British and French.
    The National Archives (UK)/Wikimedia Commons

    4. The Munich Agreement

    In September 1938, British Prime Minister Neville Chamberlain and French Prime Minister Édouard Daladier met with Italy’s fascist dictator, Benito Mussolini, and Germany’s Adolf Hitler to sign what became known as the Munich Agreement.

    The leaders sought to prevent the spread of war throughout Europe after Hitler’s Nazis had fomented an uprising and began attacking the German-speaking areas of Czechoslovakia known as the Sudetenland. They did this under the pretext of protecting German minorities. No Czechoslovakians were invited to the meeting.

    The meeting is still seen by many as the “Munich Betrayal” – a classic example of a failed appeasement of a belligerent power in the false hope of staving off war.

    5. The Évian Conference

    In 1938, 32 countries met in Évian-les-Bains, France, to decide how to deal with Jewish refugees fleeing persecution in Nazi Germany.

    Before the conference started, Britain and the US had agreed not to put pressure on one another to lift the quota of Jews they would accept in either the US or British Palestine.

    While Golda Meir (the future Israeli leader) attended the conference as an observer, neither she nor any other representatives of the Jewish people were permitted to take part in the negotiations.

    The attendees largely failed to come to an agreement on accepting Jewish refugees, with the exception of the Dominican Republic. And most Jews in Germany were unable to leave before Nazism reached its genocidal nadir in the Holocaust.

    6. The Molotov-Ribbentrop Pact

    As Hitler planned his invasion of Eastern Europe, it became clear his major stumbling block was the Soviet Union. His answer was to sign a disingenuous non-aggression treaty with the USSR.

    Joseph Stalin and Joachim von Ribbentrop after the signing of the Molotov-Ribbentrop Pact.
    German Federal Archives/Wikimedia Commons

    The treaty, named after Vyacheslav Molotov and Joachim von Ribbentrop (the Soviet and German foreign ministers), ensured the Soviet Union would not respond when Hitler invaded Poland. It also carved up Europe into Nazi and Soviet spheres. This allowed the Soviets to expand into Romania and the Baltic states, attack Finland and take its own share of Polish territory.

    Unsurprisingly, some in Eastern Europe view the current US-Russia talks over Ukraine’s future as a revival of this kind of secret diplomacy that divided the smaller nations of Europe between large powers in the second world war.

    7. The Yalta Conference

    With the defeat of Nazi Germany imminent, British Prime Minister Winston Churchill, Soviet dictator Josef Stalin and US President Franklin D Roosevelt met in 1945 to decide the fate of postwar Europe. This meeting came to be known as the Yalta Conference.

    Alongside the Potsdam Conference several months later, Yalta created the political architecture that would lead to the Cold War division of Europe.

    At Yalta, the “big three” decided on the division of Germany, while Stalin was also offered a sphere of interest in Eastern Europe.

    This took the form of a series of politically controlled buffer states in Eastern Europe, a model some believe Putin is aiming to emulate today in eastern and southeastern Europe.

    Matt Fitzpatrick receives funding from the Australian Research Council. He is affiliated with the History Council of South Australia.

    – ref. Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating – https://theconversation.com/ukraine-isnt-invited-to-its-own-peace-talks-history-is-full-of-such-examples-and-the-results-are-devastating-250049

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Statement from Governor Hochul

    Source: US State of New York

    “Since taking office in 2021, I’ve done everything possible to partner with the City of New York under the leadership of two different mayors. We’ve worked together to fight crime on the streets and subways, close illegal cannabis shops and build more housing through ‘City of Yes’. Bickering between State and City officials is a waste of time and I refuse to go back to the days where our constituents are caught in the crossfire of political turf wars.

    “Earlier today I spoke with First Deputy Mayor Maria Torres-Springer to express my gratitude for her years of service to New York City. She, along with Deputy Mayors Anne Williams-Isom, Meera Joshi and Chauncey Parker, have been strong partners with my Administration across dozens of key issues. If they feel unable to serve in City Hall at this time, that raises serious questions about the long-term future of this Mayoral administration.

    “I recognize the immense responsibility I hold as governor and the constitutional powers granted to this office. In the 235 years of New York State history, these powers have never been utilized to remove a duly-elected mayor; overturning the will of the voters is a serious step that should not be taken lightly. That said, the alleged conduct at City Hall that has been reported over the past two weeks is troubling and cannot be ignored. Tomorrow, I have asked key leaders to meet me at my Manhattan office for a conversation about the path forward, with the goal of ensuring stability for the City of New York.

    “Let me be clear: my most urgent concern is the well-being of my 8.3 million constituents who live in New York City. I will be monitoring this situation extraordinarily closely to ensure that New Yorkers are not being shortchanged by the current crisis in City government.”

    MIL OSI USA News –

  • MIL-OSI Global: Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating

    Source: The Conversation – Global Perspectives – By Matt Fitzpatrick, Professor in International History, Flinders University

    (From left to right): Neville Chamberlain, Édouard Daladier, Adolf Hitler, Benito Mussolini, and Italian Foreign Minister Galeazzo Ciano before signing the Munich Agreement, which gave the Sudetenland to Germany. German Federal Archives/Wikimedia Commons

    Ukraine has not been invited to a key meeting between American and Russian officials in Saudi Arabia this week to decide what peace in the country might look like.

    Ukrainian President Volodymyr Zelensky said Ukraine will “never accept” any decisions in talks without its participation to end Russia’s three-year war in the country.

    A decision to negotiate the sovereignty of Ukrainians without them – as well as US President Donald Trump’s blatantly extortionate attempt to claim half of Ukraine’s rare mineral wealth as the price for ongoing US support – reveals a lot about how Trump sees Ukraine and Europe.

    But this is not the first time large powers have colluded to negotiate new borders or spheres of influence without the input of the people who live there.

    Such high-handed power politics rarely ends well for those affected, as these seven historical examples show.

    1. The Scramble for Africa

    In the winter of 1884–85, German leader Otto von Bismarck invited the powers of Europe to Berlin for a conference to formalise the division of the entire African continent among them. Not a single African was present at the conference that would come to be known as “The Scramble for Africa”.

    Among other things, the conference led to the creation of the Congo Free State under Belgian control, the site of colonial atrocities that killed millions.

    Germany also established the colony of German South West Africa (present-day Namibia), where the first genocide of the 20th century was later perpetrated against its colonised peoples.

    How the boundaries of Africa changed after the Berlin conference.
    Wikimedia Commons/Somebody500

    2. The Tripartite Convention

    It wasn’t just Africa that was divided up this way. In 1899, Germany and the United States held a conference and forced an agreement on the Samoans to split their islands between the two powers.

    This was despite the Samoans expressing a desire for either self-rule or a confederation of Pacific states with Hawai’i.

    As “compensation” for missing out in Samoa, Britain received uncontested primacy over Tonga.

    German Samoa came under the rule of New Zealand after the first world war and remained a territory until 1962. American Samoa (in addition to several other Pacific islands) remain US territories to this day.

    3. The Sykes-Picot Agreement

    As the first world war was well under way, British and French representatives sat down to agree how they’d divide up the Ottoman Empire after it was over. As an enemy power, the Ottomans were not invited to the talks.

    Together, England’s Mark Sykes and France’s François Georges-Picot redrew the Middle East’s borders in line with their nations’ interests.

    The Sykes-Picot Agreement ran counter to commitments made in a series of letters known as the Hussein-McMahon correspondence. In these letters, Britain promised to support Arab independence from Turkish rule.



    Read more:
    What was the Sykes-Picot agreement, and why does it still affect the Middle East today?

    The Sykes-Picot Agreement also ran counter to promises Britain made in the Balfour Declaration to back Zionists who wanted to build a new Jewish homeland in Ottoman Palestine.

    The agreement became the wellspring of decades of conflict and colonial misrule in the Middle East, the consequences of which continue to be felt today.

    Map showing the areas of control and influence in the Middle East agreed upon between the British and French.
    The National Archives (UK)/Wikimedia Commons

    4. The Munich Agreement

    In September 1938, British Prime Minister Neville Chamberlain and French Prime Minister Édouard Daladier met with Italy’s fascist dictator, Benito Mussolini, and Germany’s Adolf Hitler to sign what became known as the Munich Agreement.

    The leaders sought to prevent the spread of war throughout Europe after Hitler’s Nazis had fomented an uprising and began attacking the German-speaking areas of Czechoslovakia known as the Sudetenland. They did this under the pretext of protecting German minorities. No Czechoslovakians were invited to the meeting.

    The meeting is still seen by many as the “Munich Betrayal” – a classic example of a failed appeasement of a belligerent power in the false hope of staving off war.

    5. The Évian Conference

    In 1938, 32 countries met in Évian-les-Bains, France, to decide how to deal with Jewish refugees fleeing persecution in Nazi Germany.

    Before the conference started, Britain and the US had agreed not to put pressure on one another to lift the quota of Jews they would accept in either the US or British Palestine.

    While Golda Meir (the future Israeli leader) attended the conference as an observer, neither she nor any other representatives of the Jewish people were permitted to take part in the negotiations.

    The attendees largely failed to come to an agreement on accepting Jewish refugees, with the exception of the Dominican Republic. And most Jews in Germany were unable to leave before Nazism reached its genocidal nadir in the Holocaust.

    6. The Molotov-Ribbentrop Pact

    As Hitler planned his invasion of Eastern Europe, it became clear his major stumbling block was the Soviet Union. His answer was to sign a disingenuous non-aggression treaty with the USSR.

    Joseph Stalin and Joachim von Ribbentrop after the signing of the Molotov-Ribbentrop Pact.
    German Federal Archives/Wikimedia Commons

    The treaty, named after Vyacheslav Molotov and Joachim von Ribbentrop (the Soviet and German foreign ministers), ensured the Soviet Union would not respond when Hitler invaded Poland. It also carved up Europe into Nazi and Soviet spheres. This allowed the Soviets to expand into Romania and the Baltic states, attack Finland and take its own share of Polish territory.

    Unsurprisingly, some in Eastern Europe view the current US-Russia talks over Ukraine’s future as a revival of this kind of secret diplomacy that divided the smaller nations of Europe between large powers in the second world war.

    7. The Yalta Conference

    With the defeat of Nazi Germany imminent, British Prime Minister Winston Churchill, Soviet dictator Josef Stalin and US President Franklin D Roosevelt met in 1945 to decide the fate of postwar Europe. This meeting came to be known as the Yalta Conference.

    Alongside the Potsdam Conference several months later, Yalta created the political architecture that would lead to the Cold War division of Europe.

    At Yalta, the “big three” decided on the division of Germany, while Stalin was also offered a sphere of interest in Eastern Europe.

    This took the form of a series of politically controlled buffer states in Eastern Europe, a model some believe Putin is aiming to emulate today in eastern and southeastern Europe.

    Matt Fitzpatrick receives funding from the Australian Research Council. He is affiliated with the History Council of South Australia.

    – ref. Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating – https://theconversation.com/ukraine-isnt-invited-to-its-own-peace-talks-history-is-full-of-such-examples-and-the-results-are-devastating-250049

    MIL OSI – Global Reports –

  • MIL-OSI China: China welcomes all efforts dedicated to peace in Ukraine

    Source: China State Council Information Office

    This photo taken on Feb. 27, 2022 shows smoke rising in the sky in Kiev, Ukraine. [Photo/Xinhua]

    China welcomes all efforts dedicated to peace in Ukraine, including the recent agreement reached by the United States and Russia to start peace talks, Fu Cong, China’s permanent representative to the United Nations, said on Monday.

    In remarks at the UN Security Council briefing on Ukraine, Fu said China has consistently advocated for settling global disputes and conflicts peacefully through dialogue and consultation in accordance with the UN Charter, and this applies equally to the Ukraine issue.

    He recalled that 10 years ago, the parties concerned with the Ukraine issue reached the Minsk Agreements through negotiations, and that the agreements were subsequently endorsed by the Security Council in its Resolution 2202, which “represents the right direction of resolving differences and disputes through dialogue and negotiation.”

    “Regrettably, after the conclusion of the agreements, most of the provisions were not fully and effectively implemented,” the ambassador said, adding that the situation that should have gradually deescalated has instead become even more tense, ultimately leading to the full escalation of the crisis and a large-scale conflict that continues to this day.

    “The failure of the Minsk Agreements is deplorable, and its historical lessons warrant deep reflection,” Fu said.

    He stressed that from the day after the crisis broke out, China has called for a political solution through dialogue and consultation, noting that the four-point proposal — the sovereignty and territorial integrity of all countries should be respected, the purposes and principles of the UN Charter observed, the legitimate security concerns of all countries given due regard, and all efforts conducive to the peaceful settlement of the crisis supported — is China’s fundamental guidance on the Ukraine issue.

    China has been actively engaged in diplomatic mediation and maintains contact with relevant parties, including Russia and Ukraine, has had in-depth participation in the consideration of the Ukraine issue under the framework of the United Nations and its Security Council, and plays a constructive role in promoting ceasefire and political settlement, Fu said.

    China has also partnered with Brazil and other countries in creating the Group of Friends for Peace to garner the collective wisdom of the countries of the Global South and form an important force for peace, said the ambassador. “The evolving situation has proven that China’s proposal is objective, fair, rational, and pragmatic, reflecting the broad consensus of the international community.”

    Fu pointed out that at present, the Ukraine issue is about to reach a critical moment for a negotiated settlement, and “the ultimate resolution of any conflict lies at the negotiation table, and history will undoubtedly deliver a just outcome.”

    He expressed the hope that all relevant parties and stakeholders involved in the Ukraine crisis will engage in the peace talks process, and reach a fair, lasting, and binding peace agreement acceptable to all parties.

    “As the conflict has been unfolding on European soil, it is imperative for Europe to work for peace,” Fu said.

    “We hope the parties will jointly address the root causes of the crisis through negotiation and find a balanced, effective, and sustainable security framework for lasting stability in the region,” he said.

    MIL OSI China News –