Category: Asia Pacific

  • MIL-OSI China: China cruise into Asia Cup semis with commanding win over New Zealand

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

    China used a balanced offense to ease past New Zealand 85-51, advancing to the semifinals as the top finisher in Group A at the FIBA Women’s Asia Cup on Wednesday.

    The reigning champion completed the group stage with a perfect 3-0 record and will await its semifinal opponent emerging from Japan and New Zealand, who will meet on Friday.

    “As our team was just formed three months ago, we aimed to try different lineups through these group games,” China head coach Gong Luming said at a postgame news conference. “We feel that it has taken an initial shape now, but still needs fine-tuning on some details.”

    “We hope that in future training, players can build better chemistry and be more familiar with our style of play, to be more creative in our play,” he added.

    China took the early initiative with seven unanswered points. Amid the rousing ovation at Shenzhen Sports Center, 18-year-old Zhang Ziyu was subbed in at the 3:46 mark and wasted no time opening her account, scoring a layup eight seconds into her appearance. A 14-2 run propelled China to a 25-10 lead at the end of the first quarter.

    The host began to pull away, leading by 22 points early in the second period. The Tall Ferns tried to respond but never seriously threatened China’s advantage the rest of the way.

    After an 11-0 run, the game was all but decided when China raced ahead 53-28 midway through the third quarter.

    All 12 Chinese players got on the scoreboard, with Zhang and Yang Shuyu each finishing with 12 points.

    “We didn’t start well in these three matches. Hopefully we can improve that in our next game,” Yang said.

    “Zhang is our advantage. The opponents will deploy specific defenses against her, and we need to address that,” she added.

    Earlier in the day, South Korea cruised past Indonesia 95-62 to finish second in the group with a 2-1 record.

    Competing in Division A for the first time, Indonesia showed its grit against the 12-time champion, trailing just 25-22 after the first quarter.

    South Korea upped its game with signature 3-pointers in the second, as Lee Myung-kwan and Shin Ji-hyun combined for three consecutive shots from long range to build a 12-point cushion.

    With a 48-34 halftime lead, South Korea continued to strengthen its hold on the game. A 24-14 third quarter extended the lead to 24 points, while Indonesia could not mount a comeback.

    South Korean guard Park Ji-hyun contributed a game-high 18 points along with seven assists, and Shin added 15. Kim Pierre-Louis led Indonesia with 16 points.

    “We didn’t start the game very well. We had a tough first half,” South Korea coach Park Soo-ho said. “But after halftime, our players came back. The next game will be the most important, and we will prepare well for it.”

    In Group B, the Philippines notched its first win with a nail-biting 73-70 victory over Lebanon. Naomi Natalie Panganiban scored 15 points, leading five Philippine players in double figures, including Jack Animam’s double-double of 14 points and 16 rebounds. Jillian Archer’s game-high 23 points were not enough for Lebanon.

    “This win represents everything that we’ve been working hard on for the last 10 years or so,” Philippines coach Patrick Henry Aquino said. “We are glad to be competing, not just staying in Division A, but we still have to improve and we hope that we level up again soon.”

    Gilas Pilipinas will vie for a semifinal spot against South Korea on Friday. The winner will face Australia, which advanced with three straight wins in group play. 

    MIL OSI China News

  • MIL-OSI China: China finish as runners-up in women’s East Asian Cup

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

    China finished second in the women’s 2025 EAFF E-1 Football Championship on Wednesday after a goalless draw with Japan in the final round, while South Korea beat Chinese Taipei 2-0 to win the event’s title for first time in 20 years.

    The clash between China and Japan kicked off in rain. China applied high pressing and quick attacking from the start, but neither side could break the deadlock in the first half.

    Yoshida Riko (2nd R) of Japan vies with Jin Kun (1st L) of China during the women’s football match between Japan and China at the EAFF (East Asian Football Federation) E-1 Football Championship 2025 Final in Suwon, South Korea, July 16, 2025. (Xinhua/Yao Qilin)

    The second half saw both teams continue to push forward, but heavy rain affected performances of both sides. In stoppage time, Japan’s Takahashi Hana had two chances to score but narrowly missed both. The match ended in a 0-0 stalemate.

    With one win and two draws each, China, Japan and South Korea all finished with five points. Chinese Taipei was at bottom after three defeats. The three top teams were tied in points, head-to-head results and goal difference. According to the EAFF competition rules, rankings were then determined by the number of goals scored among the tied teams.

    South Korea secured the championship with three goals, followed by China with two and Japan one. It marked South Korea’s second East Asian Cup title, the first since 2005.

    China head coach Ante Milicic said after the tournament that he was proud of his team for their effort under difficult weather conditions. “Both teams worked hard despite the climate. I’m proud of the way my team played and fought,” he said.

    Reflecting on the last-minute goal conceded against South Korea on July 9, Milicic admitted, “Conceding in the final minute cost us the title. It’s a lesson we must learn — we can’t afford to lose focus in the closing moments of a match.”

    Chinese player Wang Shuang told Xinhua that the team improved with each game during the tournament. “Our teamwork and understanding got better throughout the tournament. Today, some of the younger players really impressed with their bravery and confidence,” she said.

    “I think the experience we gained from this tournament is more valuable than the results themselves. I believe these younger teammates will grow stronger and more confident as they gain more playing opportunities in the future,” she added. 

    MIL OSI China News

  • MIL-Evening Report: We were part of the world heritage listing of Murujuga. Here’s why all Australians should be proud

    Source: The Conversation (Au and NZ) – By Jo McDonald, Professor, Director of Centre for Rock Art Research + Management, The University of Western Australia

    Senior Ranger, Mardudunhera man Peter Cooper, oversees the Murujuga landscape Jo McDonald, CC BY-SA

    On Friday, the Murujuga Cultural Landscape in northwest Western Australia was inscribed on the UNESCO World Heritage List. We were in Paris to see Murujuga become Australia’s 21st world heritage property, but only our second property listed exclusively for its Indigenous cultural values.

    Murujuga, meaning “hip bone sticking out”, is an ancient rocky landscape rising out of the Indian Ocean in northwest Australia.

    Murujuga is shaped by the Lore and the presence of Ngarda-Ngarli – the collective term for the Traditional Owner groups of the coastal Pilbara – since Ngurra Nyujunggamu, when the earth was soft, the beginning of time.

    Murujuga includes the Burrup Peninsula, the Dampier Archipelago’s 42 islands and the listed property covers almost 100,000 hectares of land and sea country. Across this cultural landscape are between one to two million petroglyphs – rock art – created by carving designs into rock surfaces. The petroglyphs record Ngarda Ngarli’s attachment and adaptation to a changing environment through deep time.

    The UNESCO listing recognises the “outstanding universal value” of the Murujuga Cultural Landscape. This value lies in the traditional system governing it, in tangible and intangible attributes that attest to 50,000 years of Ngarda-Ngarli using and caring for the land and seascape.

    The Ngarda-Ngarli have campaigned for World Heritage Listing of the Murujuga Cultural Landscape for more than 20 years.

    Murujuga Board and Circle of Elders members in Sydney at the ICOMOS General Assembly, where they hosted a Symposium on the Cultural Landscape nomination.
    Jo McDonald, CC BY-SA

    A controversial nomination

    While the outstanding universal values of this place were not in question, the nomination became mired with broader climate concerns.

    Industrial development began at Murujuga in the 1950s and was established before Traditional Owners had decision-making authority. The Dampier Archipelago, as well as housing petroglyphs across 42 islands, is also home to one of the largest industrial hubs in the southern hemisphere.

    The recent approval for the North-West Gas Hub has elevated climate change concerns and raised questions about whether the government is serious about protecting Murujuga.

    The Murujuga Rock Art Monitoring Program (MRAMP) year two report was released around the same time as the north west gas hub announcement.

    While acidic pollution has been suggested by some, our work on the monitoring program found rain and dust at the site was pH neutral, and there is no acid rain impacting on the petroglyphs.

    Other criticism included that the air quality at the site is compromised by local gas production. The research found the air quality at Murujuga is “good” to “very good” by international standards. We also found average annual nitrogen dioxide levels − the emission under most scrutiny − is five times lower than World Health Organisation guidelines.

    According to MRAMP research, Murujuga’s air quality is well within national standards. Nitrogen dioxide is 16 times lower than the national standard, and sulphur dioxide never exceeding 10% of the national standard.

    Importantly, the research program is ongoing and will transition to monitoring led by the Ngarda-Ngarli with support and training from the scientists. And this ongoing monitoring will be part of the management regime in place to protect Murujuga as a world heritage listed site.

    The MRAMP monitoring team in action at Murujuga.
    Ben Mullins, CC BY-SA

    Ngard-Ngarli leadership

    Traditional Owners and Custodians led the world heritage nomination, supported by State and Commonwealth governments.

    Traditional Owners consider the listing will better protect Ngarda-Ngarli knowledge, lore and culture as expressed through the landscape and in the petroglyphs.

    World heritage recognition will support Ngarda-Ngarli decision-making and ongoing management across the Murujuga Cultural Landscape.

    This global recognition is a mechanism to help Ngarda-Ngarli do what they have always done: protect their culture and decide what is right for Country for future generations.

    The inscription is a testament to the old people who started this quest decades ago, many of whom have not lived to celebrate this victory.

    The Australian delegation on the floor of UNESCO during the inscription session.
    Jo McDonald, CC BY

    Australia’s deep time heritage

    Australia now has two places on the World Heritage List which are exclusively listed as Indigenous sites of outstanding universal value to all humanity.

    The Murujuga Cultural Landscape joins on the list the southwestern Victorian site Budj Bim, one of the world’s most extensive and oldest aquaculture systems.

    Murujuga Aboriginal Custodians celebrate the Word Heritage listing decision in Paris this week.
    Jo McDonald, CC BY

    By this listing, the world has recognised the deep time creative genius and ongoing connection of Ngarda-Ngarli to the Murujuga Cultural Landscape.

    This international acclaim recognises the extraordinary resilience of Australia’s First Nations peoples and should be a source of pride and celebration for all Australians.

    Jo McDonald is an employee of the University of Western Australia and receives funding from the Australian Research Council.The Centre for Rock Art Research and Management receives funding for its research and training operations from Rio Tinto. Jo was a member of the World Heritage committee and contributed to the writing of the dossier.

    Amy Stevens is an employee of Murujuga Aboriginal Corporation, which receives funding from the Australian Government, the WA Government and industry and was a lead author on the Murujuga Cultural Landscape World Heritage nomination.

    Belinda Churnside serves as Deputy Chair. Board Directors are remunerated for their duties in accordance with community-approved sitting fees. These payments are made from MAC’s operational income.

    MAC receives funding support for a range of projects from both State and Federal government departments, as well as from industry partners operating within the Burrup and Maitland Industrial Estate Agreement (BMIEA) area.

    The Department of Water and Environmental Regulation provides operational and strategic support for the Murujuga Rock Art Monitoring Program. The Department of Biodiversity, Conservation and Attractions funds MAC’s National Park Ranger Team, while other funding bodies contribute to the Murujuga Land and Sea Unit Rangers.

    All funding sources and expenditures are transparently reported in MAC’s annual financial report, which is audited each year by an independent external auditor.

    Ben Mullins is the lead scientist on the Murujuga Rock Art Monitoring Project, which is funded by the Government of Western Australia.

    Peter Hicks is the Chair of the Board of Murujuga Aboriginal Corporation (MAC). Board Directors are remunerated for their duties in accordance with community-approved sitting fees. These payments are made from MAC’s operational income.

    MAC receives funding support for a range of projects from both State and Federal government departments, as well as from industry partners operating within the Burrup and Maitland Industrial Estate Agreement (BMIEA) area.

    The Department of Water and Environmental Regulation provides operational and strategic support for the Murujuga Rock Art Monitoring Program. The Department of Biodiversity, Conservation and Attractions funds MAC’s National Park Ranger Team, while other funding bodies contribute to the Murujuga Land and Sea Unit Rangers.

    All funding sources and expenditures are transparently reported in MAC’s annual financial report, which is audited each year by an independent external auditor.

    Terry Bailey is a World Heritage advisor to Murujuga Aboriginal Corporation and WA Government and was lead editor and co-author of Murujuga Cultural Landscape World Heritage nomination. His appointment is funded by the WA Government.

    ref. We were part of the world heritage listing of Murujuga. Here’s why all Australians should be proud – https://theconversation.com/we-were-part-of-the-world-heritage-listing-of-murujuga-heres-why-all-australians-should-be-proud-261066

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: We were part of the world heritage listing of Murujuga. Here’s why all Australians should be proud

    Source: The Conversation (Au and NZ) – By Jo McDonald, Professor, Director of Centre for Rock Art Research + Management, The University of Western Australia

    Senior Ranger, Mardudunhera man Peter Cooper, oversees the Murujuga landscape Jo McDonald, CC BY-SA

    On Friday, the Murujuga Cultural Landscape in northwest Western Australia was inscribed on the UNESCO World Heritage List. We were in Paris to see Murujuga become Australia’s 21st world heritage property, but only our second property listed exclusively for its Indigenous cultural values.

    Murujuga, meaning “hip bone sticking out”, is an ancient rocky landscape rising out of the Indian Ocean in northwest Australia.

    Murujuga is shaped by the Lore and the presence of Ngarda-Ngarli – the collective term for the Traditional Owner groups of the coastal Pilbara – since Ngurra Nyujunggamu, when the earth was soft, the beginning of time.

    Murujuga includes the Burrup Peninsula, the Dampier Archipelago’s 42 islands and the listed property covers almost 100,000 hectares of land and sea country. Across this cultural landscape are between one to two million petroglyphs – rock art – created by carving designs into rock surfaces. The petroglyphs record Ngarda Ngarli’s attachment and adaptation to a changing environment through deep time.

    The UNESCO listing recognises the “outstanding universal value” of the Murujuga Cultural Landscape. This value lies in the traditional system governing it, in tangible and intangible attributes that attest to 50,000 years of Ngarda-Ngarli using and caring for the land and seascape.

    The Ngarda-Ngarli have campaigned for World Heritage Listing of the Murujuga Cultural Landscape for more than 20 years.

    Murujuga Board and Circle of Elders members in Sydney at the ICOMOS General Assembly, where they hosted a Symposium on the Cultural Landscape nomination.
    Jo McDonald, CC BY-SA

    A controversial nomination

    While the outstanding universal values of this place were not in question, the nomination became mired with broader climate concerns.

    Industrial development began at Murujuga in the 1950s and was established before Traditional Owners had decision-making authority. The Dampier Archipelago, as well as housing petroglyphs across 42 islands, is also home to one of the largest industrial hubs in the southern hemisphere.

    The recent approval for the North-West Gas Hub has elevated climate change concerns and raised questions about whether the government is serious about protecting Murujuga.

    The Murujuga Rock Art Monitoring Program (MRAMP) year two report was released around the same time as the north west gas hub announcement.

    While acidic pollution has been suggested by some, our work on the monitoring program found rain and dust at the site was pH neutral, and there is no acid rain impacting on the petroglyphs.

    Other criticism included that the air quality at the site is compromised by local gas production. The research found the air quality at Murujuga is “good” to “very good” by international standards. We also found average annual nitrogen dioxide levels − the emission under most scrutiny − is five times lower than World Health Organisation guidelines.

    According to MRAMP research, Murujuga’s air quality is well within national standards. Nitrogen dioxide is 16 times lower than the national standard, and sulphur dioxide never exceeding 10% of the national standard.

    Importantly, the research program is ongoing and will transition to monitoring led by the Ngarda-Ngarli with support and training from the scientists. And this ongoing monitoring will be part of the management regime in place to protect Murujuga as a world heritage listed site.

    The MRAMP monitoring team in action at Murujuga.
    Ben Mullins, CC BY-SA

    Ngard-Ngarli leadership

    Traditional Owners and Custodians led the world heritage nomination, supported by State and Commonwealth governments.

    Traditional Owners consider the listing will better protect Ngarda-Ngarli knowledge, lore and culture as expressed through the landscape and in the petroglyphs.

    World heritage recognition will support Ngarda-Ngarli decision-making and ongoing management across the Murujuga Cultural Landscape.

    This global recognition is a mechanism to help Ngarda-Ngarli do what they have always done: protect their culture and decide what is right for Country for future generations.

    The inscription is a testament to the old people who started this quest decades ago, many of whom have not lived to celebrate this victory.

    The Australian delegation on the floor of UNESCO during the inscription session.
    Jo McDonald, CC BY

    Australia’s deep time heritage

    Australia now has two places on the World Heritage List which are exclusively listed as Indigenous sites of outstanding universal value to all humanity.

    The Murujuga Cultural Landscape joins on the list the southwestern Victorian site Budj Bim, one of the world’s most extensive and oldest aquaculture systems.

    Murujuga Aboriginal Custodians celebrate the Word Heritage listing decision in Paris this week.
    Jo McDonald, CC BY

    By this listing, the world has recognised the deep time creative genius and ongoing connection of Ngarda-Ngarli to the Murujuga Cultural Landscape.

    This international acclaim recognises the extraordinary resilience of Australia’s First Nations peoples and should be a source of pride and celebration for all Australians.

    Jo McDonald is an employee of the University of Western Australia and receives funding from the Australian Research Council.The Centre for Rock Art Research and Management receives funding for its research and training operations from Rio Tinto. Jo was a member of the World Heritage committee and contributed to the writing of the dossier.

    Amy Stevens is an employee of Murujuga Aboriginal Corporation, which receives funding from the Australian Government, the WA Government and industry and was a lead author on the Murujuga Cultural Landscape World Heritage nomination.

    Belinda Churnside serves as Deputy Chair. Board Directors are remunerated for their duties in accordance with community-approved sitting fees. These payments are made from MAC’s operational income.

    MAC receives funding support for a range of projects from both State and Federal government departments, as well as from industry partners operating within the Burrup and Maitland Industrial Estate Agreement (BMIEA) area.

    The Department of Water and Environmental Regulation provides operational and strategic support for the Murujuga Rock Art Monitoring Program. The Department of Biodiversity, Conservation and Attractions funds MAC’s National Park Ranger Team, while other funding bodies contribute to the Murujuga Land and Sea Unit Rangers.

    All funding sources and expenditures are transparently reported in MAC’s annual financial report, which is audited each year by an independent external auditor.

    Ben Mullins is the lead scientist on the Murujuga Rock Art Monitoring Project, which is funded by the Government of Western Australia.

    Peter Hicks is the Chair of the Board of Murujuga Aboriginal Corporation (MAC). Board Directors are remunerated for their duties in accordance with community-approved sitting fees. These payments are made from MAC’s operational income.

    MAC receives funding support for a range of projects from both State and Federal government departments, as well as from industry partners operating within the Burrup and Maitland Industrial Estate Agreement (BMIEA) area.

    The Department of Water and Environmental Regulation provides operational and strategic support for the Murujuga Rock Art Monitoring Program. The Department of Biodiversity, Conservation and Attractions funds MAC’s National Park Ranger Team, while other funding bodies contribute to the Murujuga Land and Sea Unit Rangers.

    All funding sources and expenditures are transparently reported in MAC’s annual financial report, which is audited each year by an independent external auditor.

    Terry Bailey is a World Heritage advisor to Murujuga Aboriginal Corporation and WA Government and was lead editor and co-author of Murujuga Cultural Landscape World Heritage nomination. His appointment is funded by the WA Government.

    ref. We were part of the world heritage listing of Murujuga. Here’s why all Australians should be proud – https://theconversation.com/we-were-part-of-the-world-heritage-listing-of-murujuga-heres-why-all-australians-should-be-proud-261066

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Cornyn-Supported Annual Intelligence Bill Passes Committee

    US Senate News:

    Source: United States Senator for Texas John Cornyn

    WASHINGTON – U.S. Senator John Cornyn (R-TX) today released the following statement after the Intelligence Authorization Act (IAA) for Fiscal Year 2026 passed out of the Senate Select Committee on Intelligence:

    “The U.S. Intelligence Community and congressional intelligence committees play vital roles in keeping Texans safe and secure in an increasingly complex threat environment at home and around the globe,” said Sen. Cornyn. “This legislation will ensure our intelligence agencies are equipped with the tools to confront foreign espionage, enhance counternarcotics efforts, and bolster our cybersecurity all while prioritizing transparency and efficiency, and I was glad to support it.”

     Sen. Cornyn’s Legislation Included in the Bill:

    • Intelligence Community Technology Bridge Act: Would enable the Intelligence Community (IC) to streamline acquisition processes and prioritize small business and nontraditional defense contractor solutions.
    • Counternarcotics Enhancement Act: Would direct the Director of National Intelligence (DNI) to submit to the congressional intelligence committees an action plan to enhance counternarcotics collaboration, coordination, and cooperation between the U.S. and Mexico.
    • Strengthening Prosecution Integrity for Espionage Statutes (SPIES) Act: Would help hold foreign spies who commit espionage crimes against the U.S. accountable by removing the statute of limitations for certain offenses such as gathering or delivering classified information to aid foreign governments.

    Other Key Provisions Include:

    • Requiring the DNI to assess the counterintelligence vulnerabilities of the National Aeronautics and Space Administration (NASA);
    • Requiring the Federal Bureau of Investigation (FBI) to assess and share the counterintelligence risks to commercial spaceports;
    • Reforming and improving efficiencies and effectiveness within the Office of the Director of National Intelligence (ODNI) and the broader IC;
    • Requiring that visas be denied to certain nationals applying to work at the United Nations if they are known or suspected of being foreign intelligence officers or committing intelligence or espionage activities;
    • Prohibiting the IC from contracting with Chinese military companies engaged in biotechnology research, development, or manufacturing;
    • Codifying tour and travel restrictions for Chinese, Russian, Iranian, and North Korean diplomats in the United States;
    • Enhancing protections for, and congressional oversight of, IC whistleblowers;
    • Prohibiting IC contractors from collecting or selling IC personnel location data;
    • And promoting transparency by requiring the DNI to conduct a declassification review and publish intelligence relating to the origins of the COVID-19 pandemic.

    MIL OSI USA News

  • MIL-OSI USA: Boozman, Hassan Lead Push to Ensure Timely Death Certification for Grieving Veteran Families

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman

    WASHINGTON—U.S. Senators John Boozman (R-AR) and Maggie Hassan (D-NH), members of the Senate Committee on Veterans’ Affairs, introduced the Veterans Burial Assistance Act, legislation to help expedite the process of certifying a veteran’s passing and minimize or avoid delays in benefits owed to their loved ones. Congressman Tom Emmer (R-MN-06) introduced similar legislation in the U.S. House of Representatives. 

    “Ensuring that a death certificate – an important legal document – is provided to a veteran’s loved ones in a timely manner after their passing is crucial not only for emotional closure, but necessary for a variety of legal, financial and administrative matters,” said Boozman. “Without one, it is difficult to access survivor and burial benefits and further assistance from the VA. Our bill ensures that veterans who pass away in VA care promptly receive this fully executed, vital document.”

    “While we can never fully repay the debt that we owe to veterans for their service to our country, we can help ensure that as their families work to lay their loved one to rest, they receive the support that they have earned and deserve,” said Hassan. “This commonsense legislation will help ensure that when a veteran passes away, their death certificate is processed quickly so that their loved ones can experience the closure and certainty that comes with a dignified burial.”

    “Our duty to our veterans must not end with their final breath,” Emmer said. “With this commonsense reform, no veteran family will be denied closure – or forced to endure uncertainty – when burying one of our nation’s heroes.”

    The Veterans Burial Assistance Act would require the signing of a veteran’s death certificate by a VA doctor or nurse practitioner within 48 hours of notification for any veteran whose primary care doctor is employed by the VA, regardless of where the veteran passes. When the VA is unable to meet this timeline, the local coroner or medical examiner may sign the death certificate.

    The signing of a death certificate for veterans who have died of natural causes has been delayed for as many as eight weeks, preventing loved ones from receiving death benefits in a timely manner and forcing local governments to pay for the veteran’s body to be stored until the death certificate is signed and a burial can be performed.

    The bill is supported by AMVETS, Vietnam Veterans of America and With Honor.

    Bill text is available here.

    MIL OSI USA News

  • MIL-OSI Australia: ATO app puts protection in your pocket

    Source: New places to play in Gungahlin

    As millions of Australians are preparing to lodge their tax returns, scammers are actively seeking new ways to exploit personal information. If successful, they can use stolen details not only to commit fraud against the Australian Taxation Office (ATO), but also carry out broader identity theft and financial crimes across the community.

    The ATO has reported a sharp rise in impersonation scams, with a 150 per cent increase over the last 12 months. 90 per cent of ATO impersonation scams are currently being sent via email.

    Scammers are constantly enhancing their methods to impersonate the ATO, making it increasingly difficult for individuals to recognise fraudulent messages. Staying informed and vigilant is essential to protecting personal information.

    To help keep your personal information safe and protected, the ATO’s app now has powerful new safety features designed to give users real-time control over their tax affairs through alerts and instant account locking to help stop fraudsters in their tracks.

    The app enhancements bolster the ATO’s existing fraud controls that have been in place for some time to detect unusual or out of pattern behaviour on taxpayers’ accounts.

    Quotes attributable to ATO Assistant Commissioner Rob Thomson 

    ‘This is the time of year when people are awaiting their tax returns or expecting to hear from the ATO, and scammers know it.’

    ‘That’s why we’ve strengthened the ATO app with new security features. It’s fast, free, and puts security in your hands, giving you the power to monitor your account in real-time and instantly lock it if something doesn’t feel right.’

    ‘Downloading the ATO app is a simple and effective way to stay one step ahead.’

    ‘If you receive a notification and something doesn’t feel right, lock your account immediately in our app, and verify and report the interaction on the ATO website or by calling 1800 467 033 during business hours to discuss any suspicious activity.’

    Fraudsters are getting smarter, but so are the protective features in the app. The ATO app now includes new security features designed to help you stay protected, such as:

    • Real-time messages when changes are made to your ATO record.
    • Quick account locking when you receive a real-time message to prevent unauthorised access or fraudulent refunds.

    These features provide peace of mind knowing your account is protected and you remain in control of your tax affairs anytime, anywhere.

    The ATO works closely with the National Anti-Scam Centre (NASC), which operates under the ACCC, to protect Australian’s identity information from scams through awareness and education that focuses on three simple steps – stop, check, protect. This partnership strengthens our ability to detect and respond to scam threats, especially during peak periods like tax time.

    Quotes attributable to ACCC Deputy Chair Catriona Lowe

    ‘If you receive an unsolicited contact claiming to be from the ATO and offering any of these options, it’s very likely a scam. Scammers may also use spoofed phone numbers, fake caller IDs, and convincing email templates to appear legitimate.’

    ‘Don’t let scammers pressure you. We urge all Australians to ‘stop, check and protect’ before reacting to an unexpected call or message and keep front of mind that the ATO and myGov do not use links in their messages.’

    Fraudsters and scammers plan on you being distracted and thrive on weak security. Your first line of defence is the ATO app, followed by:

    • Using a digital ID like myID to securely access online services. It’s unique to you and helps protect you from identity theft and fraud across platforms like tax, education, and government services.
    • Knowing how to spot and report scams impersonating the ATO. It only takes a few seconds to stop and check an interaction is legitimate. Remember, the ATO will never send you a link asking for your personal information or for you to log into online services.
    • Turning on multi-factor authentication wherever possible.
    • Using strong and unique passwords or passphrases.
    • Keeping your devices and software updated to block the latest threats.

    And most importantly, never share your TFN, myGov login, or bank details even in private messages or emails. These are keys to your identity.

    If you’ve received a suspicious call, SMS, email or social media message:

    ENDS

    Notes to journalists

    A high-resolution headshot of ATO Assistant Commissioner Rob ThomsonThis link will download a file is available for download from our media centre.

    ATO stock footage and images are available for use in news bulletins from our media centre.

    MIL OSI News

  • MIL-OSI Australia: Consultation open for guidance about Pillar Two

    Source: New places to play in Gungahlin

    We’ve published a draft Practical Compliance Guideline PCG 2025/D3 Global and domestic minimum tax lodgment obligations – transitional approach and an update to Taxation Ruling TR 2006/11DC Private Rulings for Pillar Two for public consultation until 29 August.

    The draft PCG 2025/D3 covers:

    • Pillar Two lodgment obligations and due dates
    • lodgment deferrals and suspension of lodgment enforcement action
    • our approach to failure to lodge penalties and statement penalties during the transition period (fiscal years beginning on or before 31 December 2026 but not including a fiscal year that ends after 30 June 2028).

    Consistent with Organisation of Economic Cooperation and Development (OECD) guidance, we’ll adopt a soft-landing approach during the transition period, allowing taxpayers to take reasonable measures to meet their obligations.

    Updates to TR 2006/11DC include an:

    • updated reference to the provisions that are relevant to rulings, including the new Pillar Two provisions
    • explanation that the Commissioner may decline to rule on a private ruling application on the Australian income inclusion rule, the undertaxed profits rule, or on domestic minimum tax, if it would be unreasonable to comply with the application, including examples where this might occur.

    We’re inviting comments on these drafts from:

    • multinational enterprise groups in Australia that may be in-scope of Pillar Two
    • tax and legal professionals, advisers and consultants with clients in-scope for Pillar Two.

    The consultation is open until 29 August. If you represent one of the above groups, you can provide comments directly to the contact person listed on the draft PCG and TR.

    We’ll be making:

    • further updates to TR 2006/11DC to address recent case law developments and will release another draft for consultation at that time – we’ll share progress updates through our Advice under development program
    • routine updates to related lodgment and penalties practice statements and taxation rulings to cover Pillar Two – these will be published when available.

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    MIL OSI News

  • MIL-OSI Australia: AUSTRAC unveils 2025-26 priorities to crack down on financial crime

    Source: Australian Department of Communications

    AUSTRAC has released its regulatory priorities for this financial year, outlining new plans to reduce the harms from money laundering, terrorism financing and other serious crime. 
    AUSTRAC CEO Brendan Thomas said financial crime damages Australia’s financial system and this year’s focus is on preparing to regulate ‘tranche 2’ industries and targeting gaps in high-risk sectors such as cash and digital currencies.

    MIL OSI News

  • MIL-Evening Report: Is our mental health determined by where we live – or is it the other way round? New research sheds more light

    Source: The Conversation (Au and NZ) – By Matthew Hobbs, Associate Professor and Transforming Lives Fellow, Spatial Data Science and Planetary Health, Sheffield Hallam University

    Photon-Photos/Getty Images

    Ever felt like where you live is having an impact on your mental health? Turns out, you’re not imagining things.

    Our new analysis of eight years of data from the New Zealand Attitude and Values Study found how often we move and where we live are intertwined with our mental health.

    In some respects, this finding might seem obvious. Does a person feel the same living in a walkable and leafy suburb with parks and stable neighbours as they would in a more transient neighbourhood with few local services and busy highways?

    Probably not. The built and natural environment shapes how safe, supported and settled a person feels.

    We wanted to know to what extent a person’s mental health is shaped by where they live – and to what degree a person’s mental health determines where they end up living.

    Patterns over time

    Most research on the environmental influences on mental health gives us a snapshot of people’s lives at a single point in time. That’s useful, but it doesn’t show how things change over time or how the past may affect the future.

    Our study took a slightly different approach. By tracking the same people year after year, we looked at patterns over time: how their mental health shifted, whether they moved house, their access to positive and negative environmental features, and how the areas they lived in changed when it came to factors such as poverty, unemployment and overcrowding.



    We also looked at things like age, body size and how much people exercised, all of which can influence mental health, too.

    To make sense of such complex and interconnected data, we turned to modern machine learning tools – in particular Random Forest algorithms. These tools allowed us to build a lot of individual models (trees) looking at how various factors affect mental health.

    We could then see which factors come up most often to evaluate both their relative importance and the likely extent of their influence.

    We also ran Monte Carlo simulations. Think of these like a high-tech crystal ball, to explore what might happen to mental health over time if neighbourhood conditions improved.

    These simulations produced multiple future scenarios with better neighbourhood conditions, used Random Forest to forecast mental health outcomes in each, and then averaged the results.

    A negative feedback loop

    What we uncovered was a potential negative feedback loop. People who had depression or anxiety were more likely to move house, and those who moved were, on average, more likely to experience worsening mental health later on.

    And there’s more. People with persistent mental health issues weren’t just moving more often, they were also more likely to move into a more deprived area. In other words, poorer mental health was related to a higher likelihood of ending up in places where resources were scarcer and the risk of ongoing stress was potentially higher.

    Our study was unable to say why the moves occurred, but it may be that mental health challenges were related to unstable housing, financial strain, or the need for a fresh start. Our future research will try to unpick some of this.

    On the flip side, people who didn’t relocate as often, especially those in lower-deprivation areas, tended to have better long-term mental health. So, stability matters. So does the neighbourhood.

    Where we live matters

    These findings challenge the idea that mental health is just about what’s inside us. Where we live plays a key role in shaping how we feel. But it’s not just that our environment affects our minds. Our minds can also steer us into different environments, too.

    Our study shows that mental health and place are potentially locked in a feedback loop. One influences the other and the cycle can either support wellbeing or drive decline.

    That has real implications for how we support people with mental health challenges.

    In this study, if a person was already struggling, they were more likely to move and more likely to end up somewhere that made life harder.

    This isn’t just about individual choice. It’s about the systems we’ve built, housing markets, income inequality, access to care and more. If we want better mental health at a population level, we need to think beyond the individual level. We need to think about place.

    Because in the end, mental health doesn’t just live in the mind; it’s also rooted in the places we live.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Is our mental health determined by where we live – or is it the other way round? New research sheds more light – https://theconversation.com/is-our-mental-health-determined-by-where-we-live-or-is-it-the-other-way-round-new-research-sheds-more-light-260491

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Baldwin, Banks Urge Administration to Strengthen Oversight on Buy America Rules in Defense Industry

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin
    WASHINGTON, D.C. – Today, Senators Tammy Baldwin (D-WI) and Jim Banks (R-IN) called on the Trump Administration to strengthen enforcement and oversight of important defense trade agreements to ensure they support U.S. businesses, workers, and our industrial base. Currently, the Department of Defense has 28 of these trade agreements, known as Reciprocal Defense Procurement agreements, with partner countries like Japan, Germany, and the U.K. These agreements waive both the U.S.’s Buy America requirements and similar laws in partner countries, opening up the opportunity for foreign companies to sell products and services to the Department of Defense. However, a recent Government Accountability Office (GAO) report found that entities within the Department of Defense (DoD) skipped important steps in creating and renewing these agreements, sometimes skirting or undermining important Buy America requirements that are meant to put American businesses and workers first.
    “A robust defense industrial base is essential for national security and economic resilience, as it underpins the development, maintenance, and deployment of U.S. military assets. While RDPs can have positive impacts in facilitating integration with our partners and allies and enable positive exchanges, the significant impact of RDP agreements on our domestic industrial base necessitates rigorous scrutiny in their review, approval, and renewal,” wrote the Senators. “With the growing number of RDP agreements, we expect that your Agency Secretaries will thoroughly review and refine the process for entering into and renewing these agreements, ensuring they bolster U.S. industry while fortifying our defense partnerships.”
    In the letter, the Senators expressed concerns that RDP agreements have been used to waive “Buy American” requirements that are designed to ensure that taxpayer dollars support American businesses and workers to help bolster the U.S. economy, ensure a skilled domestic workforce, and strengthen our industrial base. Current Department of Defense rules provide a blanket “public interest” waiver of all Buy American requirements for defense materiel from any trading partner with an RDP agreement. Given these waivers, the Senators urged the Trump Administration to ensure that any RDP agreement has thoroughly assessed the implications on American businesses, workers, and the defense industrial base before they are finalized or renewed.
    As outlined in the GAO report, the Senators also expressed concerns that the DoD is making these trade agreements without sufficient input from domestic industry. While the Department of Commerce is authorized to initiate a review of existing RDP agreements if they believe they could have adverse impacts on domestic industry, they have never completed such a review, even for RDPs that have been renewed several times. The Senators requested that the International Trade Commission review RDPs, allowing U.S. companies to have clear opportunities to alert the administration when a proposed trade agreement may harm them.
    A recent GAO report also reviewed all existing RDP agreements, showing on several occasions the administration failed to properly scrutinize these agreements. According to GAO, since 2018, DoD has skipped important due diligence steps for entering into and renewing RDP agreements. For three agreements, DoD did not solicit U.S. industry input, and for another agreement, DoD did not seek analysis from Commerce, as required by law. The GAO also found that DoD waives Buy America requirements for partner countries even if their RDP agreement has expired. The GAO further found there was insufficient compliance with a 2021 requirement that the Made in America Office review RDP agreements to ensure domestic producers will have equal and proportional access to partner defense markets.
    “We must ensure that any RDP agreements undergo rigorous scrutiny with transparent decision-making processes and input from industry stakeholders. The decision to enter or renew such agreements should be guided by strategic imperatives, not expediency. Our domestic industrial base should be able to take priority when that goal clashes with other priorities,” the Senators concluded. “Given the results of the GAO report, we urge the administration to review the RDP agreements process to ensure that such agreements fulfill their intended purpose of supporting U.S. industry and manufacturers while still bolstering our defense relationships with allies and partners.”
    A full version of this letter is available here and below.
    Dear Mr. President,
    We write to raise concerns that shortcomings in the Reciprocal Defense Procurement (RDP) agreements process may be negatively impacting our defense industrial base. A recent Government Accountability Office (GAO) report shows that there needs to be a more robust review process for establishing and renewing RDP agreements, and your America First Trade Policy report similarly identified these agreements as a point of concern. We urge the administration to review and update the RDP agreement process to ensure that such agreements support the U.S. industrial base, to include establishing an interagency review process to oversee such agreements.
    A robust defense industrial base is essential for national security and economic resilience, as it underpins the development, maintenance, and deployment of U.S. military assets. While RDPs can have positive impacts in facilitating integration with our partners and allies and enable positive exchanges, the significant impact of RDP agreements on our domestic industrial base necessitates rigorous scrutiny in their review, approval, and renewal. With the growing number of RDP agreements, we expect that your Agency Secretaries will thoroughly review and refine the process for entering into and renewing these agreements, ensuring they bolster U.S. industry while fortifying our defense partnerships.
    RDP agreements are trade agreements for direct government procurement negotiated solely by the Department of Defense (DoD) with foreign counterparts, without Congressional ratification. Since first authorized by Congress in 1988, the DoD has entered into 28 RDP agreements and 6 related agreements with both North Atlantic Treaty Organization (NATO) member-states, major non-NATO allies, and other partner countries. Most agreements include automatic extension provisions. We understand that the DoD is currently negotiating new agreements.
    We are concerned that RDP agreements have been used to waive or otherwise undermine “Buy American” requirements and similar domestic preferences that are in place to ensure that taxpayer dollars support American businesses and workers by prioritizing domestically produced goods and materiel when federal agencies make procurement decisions. This helps to bolster the U.S. economy, ensure a skilled domestic workforce, and strengthen our industrial base. Current DoD regulations (DFARS 225.872- 1) provide a blanket “public interest” waiver of all Buy American requirements for defense materiel for any foreign supplier from a country with an active reciprocal defense procurement agreement. The RDP agreement process should ensure that the administration has thoroughly assessed the implications on our industrial base before they are finalized or renewed.
    We are also concerned that the DoD may be making decisions about RDP agreements without sufficient input from domestic industry. Federal law authorizes the Department of Commerce to initiate an interagency review of existing RDP agreements if Commerce has reason to believe an agreement either has or could have “a significant adverse effect on the international competitive position of the U.S. industry.” To date, Commerce has never completed such a review, even for RDPs that have been renewed several times. The administration can address this shortcoming by ensuring that Commerce and the International Trade Commission review RDPs and that the process includes mechanisms and transparency to allow for domestic industry input. U.S. companies should have clear opportunities to alert the administration when a proposed trade agreement may harm them.
    At Congress’ request, the Government Accountability Office (GAO) recently completed a review of all existing RDP agreements, and their findings verify our concerns. According to GAO, since 2018, DoD has skipped important due diligence steps for entering into and renewing RDP agreements. For three agreements, DoD did not solicit U.S. industry input, and for another agreement, DoD did not seek analysis from Commerce, as required by law. Additionally, GAO found that Commerce’s methodology to assess RDP agreements has several weaknesses, including that it does not analyze the impact of RDP agreements on services. In Fiscal Year 2022, services comprised 49 percent of the value of DoD procurement. The GAO also found that DoD waives Buy America requirements for partner countries even if their RDP agreement has expired. The GAO further found there was insufficient compliance with a 2021 requirement that the Made in America Office review RDP agreements to ensure domestic producers will have equal and proportional access to partner defense markets.
    We must ensure that any RDP agreements undergo rigorous scrutiny with transparent decision-making processes and input from industry stakeholders. The decision to enter or renew such agreements should be guided by strategic imperatives, not expediency. Our domestic industrial base should be able to take priority when that goal clashes with other priorities.
    Given the results of the GAO report, we urge the administration to review the RDP agreements process to ensure that such agreements fulfill their intended purpose of supporting U.S. industry and manufacturers while still bolstering our defense relationships with allies and partners. We encourage you to implement GAO’s recommendations and ensure all RDPs undergo robust interagency review.
    Thank you for your attention to this critical matter. We look forward to your response.

    MIL OSI USA News

  • MIL-OSI USA: Strickland Delivers for Servicemembers, their Families, and the Future of the Services 

    Source: United States House of Representatives – Congresswoman Marilyn Strickland (WA-10)

    Washington, D.C. — Congresswoman Marilyn Strickland (WA10), a member of the House Armed Services Committee, released the following statement after the House Armed Services Committee passed H.R. 3838, the Streamlining Procurement for Effective Execution and Delivery and National Defense Authorization Act for Fiscal Year 2026 (NDAA).  

    “I am proud to lead innovative and impactful provisions in the current version of this year’s defense policy bill that will improve readiness, and enhance the quality of life for servicemembers and their families. From housing, food access and healthcare, to direct funds for JBLM — this bill reflects our bipartisan commitment to supporting those who defend and serve our nation,” said Strickland.    

    Under Strickland’s leadership, the bill includes key provisions to boost the quality of life for servicemembers and their families:  

    Naming Commission for Military Assets  

    • Prohibits the use of federal funds to revert recommendations from the Congressionally established Confederate Naming Commission for military bases and honor Confederate leaders. 

    Housing  

    • Mandates methods to ensure that Basic Allowance for Housing (BAH) rates are accurate reflections of regional market trends.  
    • Allows the use of cost-effective materials in housing renovations, and delays historic preservation requirements until the housing structure is 100 years old.   
    • Requires a detailed report on the acquisition and the implementation of the Global Household Goods contract following the cancellation of HomeSafe Alliance LLC.  

    Nutrition  

    • Removes BAH from total household income calculations used to determine Basic Needs Allowance (BNA) eligibility.  
    • Requires an annual report, for five years, on how subsistence allowances and food programs are utilized.  

    Healthcare  

    • Includes Strickland’s bipartisan MIDWIVES bill.   
    • Creates a pilot program, allowing beneficiaries to select an OB/GYN provider and receive care without a referral.  
    • Extends free TRICARE dental coverage to Reserve Component servicemembers.  
    • Secures a report on the TRICARE contract acquisition and implementation, healthcare delivery, and learned lessons that can be applied to the East and West regions. 

    Historically Black Colleges and Universities  

    • Allocates nearly $125 million — $25 million more than the President’s request — for Historically Black Colleges and Universities.  

    Joint Base Lewis-McChord  

    • Authorizes $68 million for an Airfield Fire & Rescue Station, replacing the over 70-year-old Fire Station 105.   
    • Authorizes $70 million for a Command & Control Facility.   
    • Mandates a report studying the creation of a public database on non-combat military plane crashes, including details in response to Strickland’s Flight 293 bill.   

    Army Museums  

    • Establishes closure criteria for the Secretary of the Army’s management of the museum system, preventing the Secretary from closing local museums – including the Lewis Army Museum — without Congressional input.  

    Congresswoman Marilyn Strickland (WA-10) serves on the House Armed Services Committee and the House Transportation and Infrastructure Committee. She is Whip of the New Democrat Coalition, Secretary of the Congressional Black Caucus, and is one of the first Korean-American women elected to Congress. 

    ### 

    MIL OSI USA News

  • MIL-OSI New Zealand: Employment – Union for local government workers supports LGNZ recommendations to improve voter turnout

    Source: PSA

    The PSA supports Local Government New Zealand’s (LGNZ) recommendations for a return to in-person voting at local elections, and for the Electoral Commission take over running and publicising local elections.
    The Public Service Association Te Pūkenga Here Tikanga Mahi represents over 11,000 local government workers, and has a total membership of over 96,000 people living, paying rates and voting across the country.
    Currently local bodies are responsible for running their own elections, and most contract that job out to private firms.
    “Private companies should not be running local body elections, it is not appropriate for something so important to the functioning of local democracy,” said PSA National Secretary Fleur Fitzsimons.
    “The Electoral Commission is publicly accountable and already has a track record for delivering Parliamentary elections, we call on central government to give the Electoral Commission this role, with the proper resourcing to do it.”
    “In person voting will help turn around the poor turnout rates in local elections,” said Fitzsimons. “We need to see much greater participation and a more well-informed and engaged voting public.”
    The Public Service Association Te Pūkenga Here Tikanga Mahi is Aotearoa New Zealand’s largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Property Market – Investor comeback: ‘Mums and Dads’ are eyeing up cheaper, existing properties – Cotality

    Source: Commentary from Kelvin Davidson, Cotality NZ Chief Property Economist

    Cotality’s latest Buyer Classification data for June is in and it offers a full view of buyer behaviour across New Zealand for Q2. The figures point to a resilient and active first home buyer segment amid ongoing (but slightly lesser) affordability challenges. At the same time, ‘Mum and Dad’ investors continue to raise their activity levels, gravitating towards more affordable parts of the market.

    First home buyers still strong
    Over the three months to June, the broad tr

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Tourism – Southern Discoveries puts new emergency survival equipment to the test

    Source: Southern Discoveries

    Southern Discoveries has become the first tourism company in Milford Sound to be AF8-ready with specialist emergency survival equipment.

    The longest-running Milford Sound cruise operator has fitted out its entire fleet of vehicles, including five coaches seating up to 250 people, with survival gear specifically designed for major earthquake events.
     
    And the initiative has already got the attention of tourism trade partners.
     
    Yesterday, Southern Discoveries’ coach team and senior managers attended a simulated training exercise near Queenstown to familiarise themselves with the life-saving gear they may need in an emergency situation. The drill at Wilson’s Bay saw staff simulate realistic earthquake scenarios, practising shelter setup and testing rescue tools with the new equipment.
     
    The specialist survival equipment has been supplied by Christchurch-based company The Survival Co., whose owner Peter Gillman was on-site during yesterday’s training exercises.
     
    Gillman says Southern Discoveries’ investment in such an extensive range of survival and medical gear puts them ahead of others in the industry.
     
    “Southern Discoveries is the first tourism operator to take this level of equipment from The Survival Co.,” he says. “They’ve taken the approach that if you’re going to do it, you should do it properly, and that’s exactly what’s been achieved.”
     
    The Survival Co. created a tailor-made package for the company, considering the additional challenges of remote locations like Milford Sound.
     
    “We looked at the scenarios people might find themselves in and what particular hazards exist in these areas. This gear provides an opportunity to keep people safe and comfortable during an emergency situation until help arrives.”
     
    Each of Southern Discoveries’ five coaches is now equipped with long-life food supplies, bottled water, purification tablets, emergency shelter, headlamps, waterproof ponchos, survival blankets, personal hygiene items, and stretchers. The gear also includes four-person survival self-rescue backpacks, enabling passengers and drivers to evacuate safely if required, plus satellite communication devices with SOS and two-way texting capabilities to maintain contact in remote areas.
     
    Survival packs will be placed in nine company vehicles and all coaches will carry Heartshine Samaritan AEDs (Automated External Defibrillators) for immediate medical response capabilities. Grab-and-go packs have been placed in staff housing in Milford Sound.
     
    Southern Discoveries CEO Kerry Walker says the delivery of the gear aligns with the company’s goal of continuously improving and ensuring safety for guests and staff at all times.
     
    “We operate in a region with significant seismic risks, so it’s our responsibility to be prepared for any eventuality. This equipment provides genuine peace of mind for our staff, guests, and the local community,” Walker explains.
     
    The proactive safety initiative has already received strong support from Southern Discoveries’ international trade partners, particularly agents from the United States and Japan, who value the company’s commitment to safety standards.
     
    “We know our travel agent partners place high value on safety for their clients, so we’re delighted to be able to provide this level of comfort,” Walker adds.
     
    While Gillman notes his company is seeing increased interest from city councils and Civil Defence organisations, and is encouraged to see more tourism operators starting to invest in high-level survival equipment.
     
    Walker adds: “We’re proud to position ourselves as industry leaders in emergency preparedness, but we also want to encourage others to work with The Survival Co., who are experts in this area. One of Southern Discoveries’ major trade partners has already contacted The Survival Co. to discuss obtaining safety gear for their organisation.”
     
    About Southern Discoveries

    Southern Discoveries is a local, family-owned company dedicated to sharing some of New Zealand’s most iconic scenery and extraordinary experiences with the world. Operating for more than 70 years, Southern Discoveries is Milford Sound’s original cruise operator, offering a wide range of incredible sightseeing and adventure activities in Fiordland. The company maintains an ongoing commitment to the conservation of Aotearoa’s environment through sustainable tourism initiatives and the support of the Tawaki Project in partnership with DoC, the Fiordland Conservation Trust and the University of Otago.
    www.southerndiscoveries.co.nz

    MIL OSI New Zealand News

  • MIL-OSI: Great Southern Bancorp, Inc. Reports Preliminary Second Quarter Earnings of $1.72 Per Diluted Common Share

    Source: GlobeNewswire (MIL-OSI)

    SPRINGFIELD, Mo., July 16, 2025 (GLOBE NEWSWIRE) — Great Southern Bancorp, Inc. (the “Company”) (NASDAQ:GSBC), the holding company for Great Southern Bank (the “Bank”), today reported that preliminary earnings for the three months ended June 30, 2025, were $1.72 per diluted common share ($19.8 million net income) compared to $1.45 per diluted common share ($17.0 million net income) for the three months ended June 30, 2024.

    For the quarter ended June 30, 2025, annualized return on average common equity was 12.81%, annualized return on average assets was 1.34%, and annualized net interest margin was 3.68%, compared to 12.03%, 1.17% and 3.43%, respectively, for the quarter ended June 30, 2024.

    Second Quarter 2025 Key Results:

    • Net Interest Income: Net interest income for the second quarter of 2025 increased $4.2 million (or approximately 8.9%) to $51.0 million compared to $46.8 million for the second quarter of 2024, largely driven by lower interest expense on deposit accounts and other borrowings. Annualized net interest margin was 3.68% for the quarter ended June 30, 2025, compared to 3.43% for the quarter ended June 30, 2024, and 3.57% for the quarter ended March 31, 2025. During the quarter ended June 30, 2025, the Company recorded $434,000 of interest income related to recoveries on non-accrual loans and other cash-basis assets, positively affecting net interest income and net interest margin.
    • Asset Quality: Non-performing assets and potential problem loans totaled $15.3 million at June 30, 2025, a decrease of $1.3 million from $16.6 million at December 31, 2024. At June 30, 2025, non-performing assets were $8.1 million (0.14% of total assets), a decrease of $1.5 million from $9.6 million (0.16% of total assets) at December 31, 2024.
    • Liquidity: The Company had secured borrowing line availability at the FHLBank and Federal Reserve Bank of $1.22 billion and $338.9 million, respectively, at June 30, 2025. In addition, at June 30, 2025, the Company had unpledged securities with a market value totaling $349.3 million, which could be pledged as collateral for additional borrowing capacity at either the FHLBank or Federal Reserve Bank.
    • Capital: The Company’s capital position remained strong as of June 30, 2025, significantly exceeding the thresholds established by regulators. On a preliminary basis, as of June 30, 2025, the Company’s Tier 1 Leverage Ratio was 11.5%, Common Equity Tier 1 Capital Ratio was 13.0%, Tier 1 Capital Ratio was 13.5%, and Total Capital Ratio was 14.7%. The Company’s tangible common equity to tangible assets ratio was 10.5% at June 30, 2025. In June 2025, the Company redeemed at par all of its outstanding subordinated notes, which had an aggregate principal amount of $75.0 million.
    • Significant Item Impacting Non-Interest Income: In the quarter ended June 30, 2025, the Company recorded income of $1.1 million related to exits from, and other activities of, its investments in tax credit partnerships. This was an unusually large amount for the Company, but this type of income occurs from time to time. We cannot, however, anticipate the amount or timing of this income with certainty.

    Selected Financial Data:

      Three Months Ended
        June 30,     June 30,   March 31,
        2025     2024     2025
        (Dollars in thousands, except per share data)
                           
    Net interest income $ 50,963     $ 46,818     $ 49,334  
    Provision (credit) for credit losses on loans and unfunded commitments   (110 )     (607 )     (348 )
    Non-interest income   8,212       9,833       6,590  
    Non-interest expense   35,005       36,409       34,822  
    Provision for income taxes   4,494       3,861       4,290  
                     
    Net income $ 19,786     $ 16,988     $ 17,160  
                     
    Earnings per diluted common share $ 1.72     $ 1.45     $ 1.47  
                           

    Joseph W. Turner, President and CEO of Great Southern, commented, “The second quarter was marked by continued execution of our strategy to maintain core banking fundamentals, drive earnings, and improve tangible book value per share. Our core credit and operating metrics remained sound, with solid quarterly profitability driven by steady margins, ongoing disciplined expense control, and continued strong credit quality. We reported net income of $19.8 million, or $1.72 per diluted common share, for the second quarter of 2025, compared to $17.0 million, or $1.45 per diluted common share, in the same period last year. The increase in net income compared to the prior year quarter reflects strong growth in net interest income, which rose $4.2 million, or 8.9%, largely due to lower interest expense on deposit accounts and borrowings. The second quarter of 2025 and 2024 each had significant unusual or non-recurring items included in non-interest income, which are noted elsewhere in this earnings release. Non-interest expense also decreased from the year-ago quarter due to significant legal and professional fees recorded in 2024.”

    Turner noted, “Despite lingering external economic pressures, our core operations continued to perform well. Total interest income for the second quarter of 2025 was $81.0 million, reflecting stable yields on loans and investment securities. Net interest income for the quarter increased to $51.0 million, supported by our continued disciplined asset-liability management and lower deposit interest costs, despite competitive pressures. We also saw stability in our core non-time deposit balances, reflecting the strength of customer relationships and the enduring value of our franchise.”

    Turner added, “Our balance sheet remains well positioned, with total assets of approximately $5.85 billion at June 30, 2025, and a loan portfolio that reflects a balanced approach to growth and risk management, as we serve our constituent markets. We emphasize prudent lending practices through our relationship-based lending resulting in strong credit quality. Given our emphasis on balancing loan growth with appropriate pricing and loan structure, we saw a $156 million net loan reduction in the quarter, which included a $30 million loan payoff at the end of the quarter. Large loan payoffs tend to fluctuate, but we did experience a higher level of such payoffs in the second quarter of 2025. Our allowance for credit losses stood at $64.8 million at June 30, 2025, representing 1.41% of total loans. Our non-performing assets decreased $1.5 million from both March 31, 2025, and December 31, 2024, to $8.1 million, or 0.14% of total assets, highlighting our prudent underwriting standards and ongoing credit monitoring.”

    Turner further noted, “On the expense side, we remain focused on operating discipline. Non-interest expense totaled $35.0 million for the second quarter of 2025, an improvement of $1.4 million from the prior-year second quarter, with reductions in legal and professional fees and expense on other real estate owned, partially offset by modest increases in technology investments. Non-interest income totaled $8.2 million for the second quarter of 2025, which did include some significant unusual income as we’ve noted.”

    Turner continued, “As we look ahead, our priorities remain consistent: control costs, safeguard credit quality, and optimize our funding mix to enable continued growth and long-term financial stability. At June 30, 2025, our capital and liquidity positions were solid, with a tangible common equity ratio of 10.5% and approximately $2.2 billion of secured available lines and on-balance sheet liquid assets, providing us with the capital and liquidity we need to support customers, pursue strategic growth opportunities, and continue returning value to shareholders through dividends and share repurchases. In the second quarter of 2025 we repurchased nearly 176,000 shares of our common stock. In June 2025, we redeemed all of the Company’s outstanding 5.50% fixed-to-floating rate subordinated notes, with an aggregate principal balance of $75 million, in advance of a step up in rate, thereby avoiding a significant increase in interest cost.”

    “Great Southern’s second-quarter 2025 results demonstrate the strength and consistency of our business model and our ability to deliver sustainable returns, supported by strong customer relationships and disciplined management. Our focus on long-term value creation is steadfast as our team works daily to meet the needs of our customers, communities and shareholders,” Turner concluded.

    NET INTEREST INCOME

      Three Months Ended
        June 30,     June 30,   March 31,
        2025     2024   2025
        (Dollars in thousands)
    Interest Income $ 80,975     $ 80,927     $ 80,243  
    Interest Expense   30,012       34,109       30,909  
                           
    Net Interest Income $ 50,963     $ 46,818     $ 49,334  
                     
    Net interest margin   3.68 %     3.43 %     3.57 %
    Average interest-earning assets to average interest-bearing liabilities   126.9 %     126.7 %     125.5 %
                           

    Net interest income for the second quarter of 2025 increased $4.2 million to $51.0 million, compared to $46.8 million for the second quarter of 2024. This increase in net interest income was driven primarily by higher investment interest income and improved overall yields, as well as the strategic management of maturing/repricing brokered deposits and interest-bearing demand deposits to reduce interest expense. Net interest margin was 3.68% in the second quarter of 2025, compared to 3.43% in the same period of 2024 and 3.57% in the first quarter of 2025. Compared to the 2024 second quarter, the average yield on loans decreased 11 basis points, the average yield on investment securities increased 27 basis points and the average yield on other interest earning assets decreased 101 basis points. The average rate paid on interest-bearing demand and savings deposits, time deposits and brokered deposits decreased 36 basis points, 63 basis points and 74 basis points, respectively, in the three months ended June 30, 2025 compared to the three months ended June 30, 2024. The average interest rate spread was 3.09% for the three months ended June 30, 2025, compared to 2.77% for the three months ended June 30, 2024 and 3.00% for the three months ended March 31, 2025.

    Net interest margin was positively impacted by the receipt of interest income which had not been accrued for, as outlined above, under “Second Quarter 2025 Key Results – Net Interest Income.” This additional interest income contributed three basis points to net interest margin in the second quarter of 2025. While we currently believe that interest income recoveries such as this may occur in future periods, we cannot anticipate the amount or timing of this income with certainty.

    The average rate paid on total interest-bearing liabilities decreased from 3.17% in the 2024 second quarter to 2.75% in the 2025 second quarter. The average rates paid on deposits and borrowings decreased compared to the prior-year second quarter as market interest rates, primarily the federal funds rate and SOFR rates, declined in the fourth quarter of 2024. Yields on the Company’s portfolio of investment securities increased compared to the prior-year second quarter due to higher-yielding securities purchased in the second quarter of 2024. While market interest rates decreased compared to the second quarter of 2024, the average yield on loans only decreased slightly as cash flows from lower-rate fixed rate loans were redeployed into loans with comparably higher rates of interest.

    To mitigate exposure to the risk of fluctuations in future cash flows resulting from changes in interest rates (primarily related to falling interest rates), the Company has, from time to time, strategically utilized derivative financial instruments, primarily interest rate swaps, as part of its interest rate risk management strategy.

    The following table presents, for the periods indicated, the effect of cash flow hedge accounting included in interest income in the consolidated statements of income:

      Three Months Ended
        June 30,     June 30,   March 31,
        2025     2024   2025
        (In thousands)
    Terminated interest rate swaps $ 2,025     $ 2,025     $ 2,003  
    Active interest rate swaps   (1,757 )     (2,769 )     (1,742 )
                           
    Increase (decrease) to interest income $ 268     $ (744 )   $ 261  
                           

    The Company entered into an interest rate swap in October 2018, which was terminated in March 2020. Upon termination, the Company received $45.9 million, inclusive of accrued but unpaid interest, from its swap counterparty. The net amount, after deducting accrued interest and deferred income taxes, is being accreted to interest income on loans monthly until the originally scheduled termination date of October 6, 2025. After this date, the Company will no longer have the benefit of that income from the terminated swap. The Company anticipates recording approximately $2.0 million in interest income from the terminated swap in the third quarter of 2025, after which no further interest income will be realized.

    The Company’s net interest income in the second quarter of 2025 increased 8.9% compared to net interest income in the second quarter of 2024. The cost of deposits has been negatively impacted over several quarters by the high level of competition for deposits across the industry and the lingering effects of liquidity events at several banks in March and April 2023. After the second quarter of 2023, the Company had a significant amount of time deposits maturing at relatively low interest rates. These deposits were either renewed at higher rates or withdrawn, requiring the Company to replace the withdrawn deposits with other funding sources at then-current market rates. Market rates for time deposits for much of 2024 remained elevated, but have declined as the FOMC cut the federal funds rate by 100 basis points in late 2024 and signaled that further rate cuts may occur in late 2025. As of June 30, 2025, time deposit maturities over the next 12 months were as follows: within three months — $696 million, with a weighted-average rate of 3.93%; within three to six months — $460 million, with a weighted-average rate of 3.83%; and within six to twelve months — $124 million, with a weighted-average rate of 3.37%. Based on time deposit market rates in June 2025, replacement rates for these maturing time deposits are likely to be approximately 3.35-3.85%.

    NON-INTEREST INCOME

    For the quarter ended June 30, 2025, non-interest income decreased $1.6 million to $8.2 million when compared to the quarter ended June 30, 2024, primarily as a result of the following items:

    • Other income: Other income decreased $1.6 million compared to the prior-year quarter. In the second quarter of 2024, the Company recorded $2.7 million of other income, net of expenses and write-offs, related to the termination of the master agreement between the Company and a third-party software vendor for the intended conversion of the Company’s core banking platform. Separately, in the quarter ended June 30, 2025, the Company recorded income of $1.1 million related to exits from, and other activities of, its investments in tax credit partnerships.
    • Net gains on loan sales: Net gains on loan sales decreased $234,000 compared to the prior-year quarter. The decrease was due to a decrease in balance of fixed-rate single-family mortgage loans originated and sold during the 2025 period compared to the 2024 period. Fixed rate single-family mortgage loans originated are generally subsequently sold in the secondary market.
    • Late charges and fees on loans: Late charges and fees on loans increased $204,000 compared to the prior-year quarter. This increase was primarily due to prepayment fees on one large commercial real estate loan, which paid off in the 2025 quarter.

    NON-INTEREST EXPENSE

    For the quarter ended June 30, 2025, non-interest expense decreased $1.4 million to $35.0 million when compared to the quarter ended June 30, 2024, primarily as a result of the following items:

    • Legal, audit and other professional fees: Legal, audit and other professional fees decreased $935,000, or 50.2%, from the prior-year quarter, to $929,000. In the quarter ended June 30, 2024, the Company expensed a total of $902,000 related to training and implementation costs for the intended core systems conversion and professional fees to consultants engaged to support the Company’s proposed transition of core and ancillary software and information technology systems, compared to $46,000 in costs expensed in the quarter ended June 30, 2025.
    • Expense on other real estate owned: Expenses on other real estate owned decreased $453,000, or 158.9%, from the prior-year quarter. In the quarter ended June 30, 2025, the Company collected a total of $445,000 in rental income from other real estate owned, compared to $24,000 collected for the quarter ended June 30, 2024. The 2025 period included rental income from the $6.0 million office building asset that was added to other real estate owned in the fourth quarter of 2024. See “Asset Quality” below.
    • Other operating expenses: Other operating expenses decreased $444,000, or 17.3%, from the prior-year quarter. In the 2024 period, the Company recorded expenses totaling $600,000 related to the resolution of compliance matters, with no similar expenses recorded in the current-year quarter.
    • Net occupancy and equipment expenses: Net occupancy and equipment expenses increased $594,000, or 7.6%, from the prior-year quarter. Various components of computer license and support expenses related to upgrades of core systems capabilities collectively increased by $502,000 in the second quarter of 2025 compared to the second quarter of 2024.

    The Company’s efficiency ratio for the quarter ended June 30, 2025, was 59.16% compared to 64.27% for the same quarter in 2024. The Company’s ratio of non-interest expense to average assets was 2.37% for the three months ended June 30, 2025, compared to 2.50% for the three months ended June 30, 2024. Average assets for the three months ended June 30, 2025, increased $86.0 million, or 1.5%, compared to the three months ended June 30, 2024, primarily due to growth in average balances of net loans and investment securities.

    INCOME TAXES

    For each of the three months ended June 30, 2025 and 2024, the Company’s effective tax rate was 18.5%. For the six months ended June 30, 2025 and 2024, the Company’s effective tax rate was 19.2% and 18.8%, respectively. These effective rates were below the statutory federal tax rate of 21%, due primarily to the utilization of certain investment tax credits and the Company’s tax-exempt investments and tax-exempt loans, which reduced the Company’s effective tax rate. The Company’s effective tax rate may fluctuate in future periods as it is impacted by the level and timing of the Company’s utilization of tax credits, the level of tax-exempt investments and loans, the amount of taxable income in various state jurisdictions and the overall level of pre-tax income. State tax expense estimates continually evolve as taxable income and apportionment between states are analyzed. The Company currently expects its effective tax rate (combined federal and state) will be approximately 18.0% to 20.0% in future periods.

    CAPITAL

        June 30,   December 31,   March 31,
        2025   2024   2025
    Consolidated Regulatory Capital Ratios   (Preliminary)            
    Tier 1 Leverage Ratio   11.5 %   11.4 %   11.3 %
    Common Equity Tier 1 Capital Ratio   13.0 %   12.3 %   12.4 %
    Tier 1 Capital Ratio   13.5 %   12.8 %   12.9 %
    Total Capital Ratio   14.7 %   15.4 %   15.6 %
    Tangible Common Equity Ratio   10.5 %   9.9 %   10.1 %
                       

    As of June 30, 2025, total stockholders’ equity was $622.4 million, representing 10.6% of total assets and a book value of $54.61 per common share. This compares to total stockholders’ equity of $599.6 million, or 10.0% of total assets, and a book value of $51.14 per common share at December 31, 2024. The $22.8 million increase in stockholders’ equity from December 31, 2024, was primarily driven by $36.9 million in net income and a $2.0 million increase from stock option exercises, partially offset by $9.2 million in cash dividends declared on the Company’s common stock and $20.0 million in common stock repurchases.

    Decreased unrealized losses on the Company’s available-for-sale investment securities and interest rate swaps, which totaled $54.4 million (net of taxes) at December 31, 2024, also increased stockholders’ equity by $13.0 million during the first six months of 2025. These net unrealized losses primarily resulted from increased intermediate-term market interest rates in prior periods, which generally decreased the fair value of the investment securities and interest rate swaps. In the first six months of 2025, these market interest rates decreased, resulting in increases in the fair value of the Company’s investment securities and interest rate swaps.

    The Company had unrealized losses on its portfolio of held-to-maturity investment securities, which totaled $19.3 million and $24.7 million at June 30, 2025 and December 31, 2024, respectively, that were not included in its total capital balance. If held-to-maturity unrealized losses were included in capital (net of taxes) at June 30, 2025, they would have decreased total stockholder’s equity at that date by $14.6 million. This amount was equal to 2.3% of total stockholders’ equity of $622.4 million at June 30, 2025, compared to 3.1% of total stockholders’ equity at December 31, 2024.

    On June 15, 2025, the Company redeemed all of its outstanding 5.50% fixed-to-floating rate subordinated notes due June 15, 2030, with an aggregate principal balance of $75 million. The total redemption price was 100% of the aggregate principal balance of the subordinated notes plus accrued and unpaid interest. The Company utilized excess cash on hand for the redemption payment.

    In November 2022, the Company’s Board of Directors authorized the purchase of up to one million shares of the Company’s common stock. As of June 30, 2025, approximately 94,000 shares remained available under this stock repurchase authorization.

    In April 2025, the Company’s Board of Directors approved a new stock repurchase program, which will succeed the existing repurchase program (authorized in November 2022) following the repurchase of the existing program’s remaining available shares. The new stock repurchase program authorizes the purchase, from time to time, of up to one million additional shares of the Company’s common stock.

    During the three months ended June 30, 2025, the Company repurchased 175,998 shares of its common stock at an average price of $55.11, and the Company’s Board of Directors declared a regular quarterly cash dividend of $0.40 per common share, which, combined, reduced stockholders’ equity by $14.4 million.

    During the six months ended June 30, 2025, the Company repurchased 349,342 shares of its common stock at an average price of $56.73, and the Company’s Board of Directors declared regular quarterly cash dividends totaling $0.80 per common share, which, combined, reduced stockholders’ equity by $29.2 million.

    LIQUIDITY AND DEPOSITS

    Liquidity is a measure of the Company’s ability to generate sufficient cash to meet present and future financial obligations in a timely manner. The Company’s primary sources of funds are customer deposits, FHLBank advances, other borrowings, loan repayments, unpledged securities, proceeds from sales of loans and available-for-sale securities and funds provided from operations. The Company utilizes some or all of these sources of funds depending on the comparative costs and availability at the time. The Company has from time to time chosen not to pay rates on deposits as high as the rates paid by certain of its competitors and, when believed to be appropriate, supplements deposits with less expensive alternative sources of funds. Management believes that the Company maintains overall liquidity sufficient to satisfy its depositors’ requirements and meet its borrowers’ credit needs.

    At June 30, 2025, the Company had the following available secured lines and on-balance sheet liquidity:

        June 30, 2025
    Federal Home Loan Bank line     $1,216.1 million
    Federal Reserve Bank line     338.9 million
    Cash and cash equivalents     245.9 million
    Unpledged securities – Available-for-sale     325.3 million
    Unpledged securities – Held-to-maturity     24.0 million
           

    During the six months ended June 30, 2025, the Company’s total deposits increased $78.6 million. Interest-bearing checking balances increased $18.5 million (0.8%), primarily in certain money market accounts, and non-interest-bearing checking balances increased $17.0 million (2.0%). Time deposits generated through the Company’s banking center and corporate services networks decreased $18.1 million (2.3%). Brokered deposits increased $61.2 million (7.9%) through a variety of sources. During the three months ended June 30, 2025, the Company’s total deposits decreased $73.9 million, with $62.1 million of this decrease in brokered deposits.

    At June 30, 2025, the Company had the following deposit balances:

           June 30, 2025
    Interest-bearing checking     $2,233.2 million
    Non-interest-bearing checking     859.9 million
    Time deposits     757.7 million
    Brokered deposits     833.3 million
           

    At June 30, 2025, the Company estimated that its uninsured deposits, excluding deposit accounts of the Company’s consolidated subsidiaries, were approximately $703.6 million (15% of total deposits).

    LOANS

    Total net loans, excluding mortgage loans held for sale, decreased $156.1 million, or 3.3%, from $4.69 billion at December 31, 2024 to $4.53 billion at June 30, 2025. This decrease was primarily driven by decreases in construction loans of $79.1 million, commercial real estate loans of $56.1 million, one- to four-family residential loans of $23.0 million and commercial business loans of $25.2 million, partially offset by an increase in other residential (multi-family) loans of $28.7 million. Compared to March 31, 2025, net loans decreased $156.4 million.

    The pipeline of the unfunded portion of loans and formal loan commitments remained strong, with the largest portion of these unfunded balances represented by the unfunded portion of outstanding construction loans ($626.0 million at June 30, 2025). See the table below.

    For additional details about the Company’s loan portfolio, please refer to the quarterly loan portfolio presentation available on the Company’s Investor Relations website under “Presentations.”

    Loan commitments and the unfunded portion of loans at the dates indicated were as follows (in thousands):

        June 30,
    2025
        March 31,
    2025
        December
    31, 2024
        December
    31, 2023
        December
    31, 2022
     
    Closed non-construction loans with unused available lines                              
    Secured by real estate (one- to four-family) $ 211,453   $ 211,119   $ 205,599   $ 203,964   $ 199,182  
    Secured by real estate (not one- to four-family)                    
    Not secured by real estate – commercial business   102,891     106,211     106,621     82,435     104,452  
                                   
    Closed construction loans with unused available lines                              
    Secured by real estate (one-to four-family)   96,935     96,807     94,501     101,545     100,669  
    Secured by real estate (not one-to four-family)   644,427     657,828     703,947     719,039     1,444,450  
                                   
    Loan commitments not closed                              
    Secured by real estate (one-to four-family)   17,148     19,264     14,373     12,347     16,819  
    Secured by real estate (not one-to four-family)   13,002     50,296     53,660     48,153     157,645  
    Not secured by real estate – commercial business   27,003     18,484     22,884     11,763     50,145  
                                   
      $ 1,112,859   $ 1,160,009   $ 1,201,585   $ 1,179,246   $ 2,073,362  
                                   

    PROVISION FOR CREDIT LOSSES AND ALLOWANCE FOR CREDIT LOSSES

    During the three months ended June 30, 2025 and 2024, the Company did not record a provision expense on its portfolio of outstanding loans. During the six months ended June 30, 2025, the Company did not record a provision expense on its portfolio of outstanding loans, compared to a provision expense of $500,000 in the same period in 2024. Total net recoveries were $111,000 for the three months ended June 30, 2025, compared to net recoveries of $168,000 during the same period in the prior year. Total net recoveries were $55,000 for the six months ended June 30, 2025, compared to net recoveries of $85,000 during the same period in the prior year. Additionally, for the quarter ended June 30, 2025, the Company recorded a negative provision for losses on unfunded commitments of $110,000, compared to a negative provision of $607,000 for the same period in 2024. For the six months ended June 30, 2025, the Company recorded a negative provision for losses on unfunded commitments of $458,000, compared to a negative provision of $477,000 for the same period in 2024.

    The Bank’s allowance for credit losses as a percentage of total loans was 1.41% at June 30, 2025, an increase from 1.36% at both December 31, 2024 and March 31, 2025. Management considers the allowance for credit losses adequate to cover losses inherent in the Bank’s loan portfolio at June 30, 2025, based on recent reviews of the portfolio and current economic conditions. However, if challenging economic conditions persist or worsen, or if management’s assessment of the loan portfolio changes, additional provisions for credit losses may be required, which could adversely impact the Company’s future financial performance.

    ASSET QUALITY

    At June 30, 2025, non-performing assets were $8.1 million, a decrease of $1.5 million from $9.6 million at December 31, 2024 and a decrease of $1.4 million from $9.5 million at March 31, 2025. Non-performing assets as a percentage of total assets were 0.14% at June 30, 2025, compared to 0.16% at both December 31, 2024 and March 31, 2025.

    Activity in the non-performing loan categories during the quarter ended June 30, 2025, was as follows:

        Beginning
    Balance,
    April 1
      Additions
    to Non-
    Performing
      Removed
    from Non-
    Performing
      Transfers
    to Potential
    Problem
    Loans
      Transfers to
    Foreclosed
    Assets and
    Repossessions
      Charge-
    Offs
      Payments   Ending
    Balance,
    June 30
        (In thousands)
                                     
    One- to four-family construction $ $ $ $ $ $ $   $
    Subdivision construction                  
    Land development   368             (368 )  
    Commercial construction                  
    One- to four-family residential   3,076   154           (1,204 )   2,026
    Other residential (multi-family)                  
    Commercial real estate                  
    Commercial business                  
    Consumer   38   7           (27 )   18
    Total non-performing loans $ 3,482 $ 161 $ $ $ $ $ (1,599 ) $ 2,044
                                     
    • Compared to March 31, 2025, non-performing loans decreased $1.4 million.
    • The non-performing one- to four-family residential category consisted of eight loans at June 30, 2025, one of which was added during the current quarter.
    • The largest relationship in the one- to four-family residential category totaled $614,000 at June 30, 2025. This relationship was added to non-performing loans in 2024 and is collateralized by a single-family residential property in the Sarasota, Fla. area.
    • During the quarter ended June 30, 2025, one- to four-family residential loans experienced one loan pay-off totaling $884,000 and another related loan had a principal pay-down totaling $296,000. Additionally, the only loan in the non-performing land development category at the beginning of the quarter paid off.

    Activity in the potential problem loans categories during the quarter ended June 30, 2025, was as follows:

        Beginning
    Balance,
    April 1
      Additions to
    Potential
    Problem
      Removed
    from
    Potential
    Problem
      Transfers
    to Non-
    Performing
      Transfers to
    Foreclosed
    Assets and
    Repossessions
      Charge-
    Offs
      Loan Advances (Payments)   Ending
    Balance,
    June 30
     
        (In thousands)
                                       
    One- to four-family construction $ $ $   $ $   $   $   $  
    Subdivision construction                          
    Land development                          
    Commercial construction                          
    One- to four-family residential   2,128   34   (307 )             (16 )   1,839  
    Other residential (multi-family)                          
    Commercial real estate   4,313                   (16 )   4,297  
    Commercial business     33                     33  
    Consumer   1,011   50         (2 )   (11 )   (11 )   1,037  
    Total potential problem loans $ 7,452 $ 117 $ (307 ) $ $ (2 ) $ (11 ) $ (43 ) $ 7,206  
                                       
    • Compared to March 31, 2025, potential problem loans decreased $246,000.
    • At June 30, 2025, the commercial real estate category consisted of three loans, all of which are part of one relationship and were added in 2024.
    • The commercial real estate relationship is collateralized by three nursing care facilities located in southwest Missouri. The borrower’s business cash flow was negatively impacted by a reduction in available labor and increased operating costs as well as ongoing changes to the Missouri Medicaid reimbursement rate. Monthly payments were timely made prior to the transfer to this category and have continued to be paid timely.
    • At June 30, 2025, the one- to four-family residential category consisted of ten loans, one of which was added to potential problem loans during the current quarter.
    • The largest relationship in the one- to four-family category, which was reclassified from the consumer category during the first quarter of 2025, totaled $963,000 and is collateralized by multiple single-family residential properties in Indiana and Florida.
    • At June 30, 2025, the consumer category of potential problem loans consisted of 14 loans, two of which were added during the current quarter.
    • The largest loan in the consumer category is a home equity loan totaling $784,000 related to the nursing care facility relationship, noted above.

    Activity in the foreclosed assets and repossessions categories during the quarter ended June 30, 2025 was as follows:

        Beginning
    Balance,
    April 1
      Additions   ORE and
    Repossession
    Sales
      Capitalized
    Costs
      ORE and
    Repossession
    Write-Downs
      Ending
    Balance,
    June 30
        (In thousands)
                             
    One-to four-family construction $ $ $   $ $ $
    Subdivision construction              
    Land development              
    Commercial construction              
    One- to four-family residential              
    Other residential (multi-family)              
    Commercial real estate   6,036             6,036
    Commercial business              
    Consumer     6   (2 )       4
    Total foreclosed assets and repossessions $ 6,036 $ 6 $ (2 ) $ $ $ 6,040
                             
    • Compared to March 31, 2025, foreclosed assets increased $4,000.
    • The commercial real estate category consisted of two foreclosed properties, one of which, totaling $76,000, was added during the first quarter of 2025.
    • The largest asset in the commercial real estate category, totaling $6.0 million, consisted of an office building located in Clayton, Mo. This asset was foreclosed upon in the fourth quarter of 2024.

    BUSINESS INITIATIVES

    Technology updates and advancements continue with the Company’s current core provider. Projects involving a full array of products and services are moving forward, with completions expected beginning in the third quarter of 2025 and continuing into 2026.

    The Company installed 10 ITM units in the St. Louis, Mo. market, replacing existing end-of-life ATM units. The ITMs, all located at banking center locations, offer customers live teller services, extended banking hours, and services beyond those traditionally available via an ATM.

    Construction of the Company’s new banking center at 723 N. Benton in Springfield, Mo., to replace the existing facility at that location, began in March 2025 and is on schedule for completion in the fourth quarter of 2025. The new facility, designed as a next-generation banking center, will allow for flexibility in testing new designs, processes, technology and tools, balanced with customer convenience. The Company has 11 other banking centers and an Express Center in Springfield.

    Earnings Conference Call

    The Company will host a conference call on Thursday, July 17, 2025, at 2:00 p.m. Central Time to discuss second quarter 2025 preliminary earnings. The call will be available live or in a recorded version at the Company’s Investor Relations website, http://investors.greatsouthernbank.com. Participants may register for the call at https://register-conf.media-server.com/register/BI5023532982f44a44b03e6e16deb1e937.

    About Great Southern Bancorp, Inc.

    Headquartered in Springfield, Missouri, Great Southern offers a broad range of banking services to customers. The Company operates 89 retail banking centers in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska and commercial lending offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix. The common stock of Great Southern Bancorp, Inc. is listed on the Nasdaq Global Select Market under the symbol “GSBC.”

    www.GreatSouthernBank.com

    Forward-Looking Statements

    When used in this press release and in other documents filed or furnished by the Company with or to the Securities and Exchange Commission (the “SEC”), in the Company’s other press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases “may,” “might,” “could,” “should,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “believe,” “estimate,” “project,” “intends” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements also include, but are not limited to, statements regarding plans, objectives, expectations or consequences of announced transactions, known trends and statements about future performance, operations, products and services of the Company. The Company’s ability to predict results or the actual effects of future plans or strategies is inherently uncertain, and the Company’s actual results could differ materially from those contained in the forward-looking statements.

    Factors that could cause or contribute to such differences include, but are not limited to: (i) expected revenues, cost savings, earnings accretion, synergies and other benefits from the Company’s merger and acquisition activities might not be realized within the anticipated time frames or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (ii) changes in economic conditions, either nationally or in the Company’s market areas; (iii) the effects of any new or continuing public health issues on general economic and financial market conditions; (iv) fluctuations in interest rates, the effects of inflation or a potential recession, whether caused by Federal Reserve actions or otherwise; (v) the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; (vi) slower or negative economic growth caused by tariffs, changes in energy prices, supply chain disruptions or other factors; (vii) the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; (viii) the possibility of realized or unrealized losses on securities held in the Company’s investment portfolio; (ix) the Company’s ability to access cost-effective funding and maintain sufficient liquidity; (x) fluctuations in real estate values and both residential and commercial real estate market conditions; (xi) the ability to adapt successfully to technological changes to meet customers’ needs and developments in the marketplace; (xii) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber-attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (xiii) legislative or regulatory changes that adversely affect the Company’s business; (xiv) changes in accounting policies and practices or accounting standards; (xv) results of examinations of the Company and the Bank by their regulators, including the possibility that the regulators may, among other things, require the Company to limit its business activities, change its business mix, increase its allowance for credit losses, write-down assets or increase its capital levels, or affect its ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; (xvi) costs and effects of litigation, including settlements and judgments; (xvii) competition; and (xviii) natural disasters, war, terrorist activities or civil unrest and their effects on economic and business environments in which the Company operates. The Company wishes to advise readers that the factors listed above and other risks described in the Company’s most recent Annual Report on Form 10-K, including, without limitation, those described under “Item 1A. Risk Factors,” subsequent Quarterly Reports on Form 10-Q and other documents filed or furnished from time to time by the Company with the SEC (which are available on our website at www.greatsouthernbank.com and the SEC’s website at www.sec.gov), could affect the Company’s financial performance and cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

    The Company does not undertake-and specifically declines any obligation- to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    The following tables set forth selected consolidated financial information of the Company at the dates and for the periods indicated. Financial data at all dates other than December 31, 2024, and for all periods is unaudited. In the opinion of management, all adjustments, which consist only of normal recurring accrual adjustments, necessary for a fair presentation of the results at and for such unaudited dates and periods have been included. The results of operations and other data for the three and six months ended June 30, 2025 and 2024, and the three months ended March 31, 2025, are not necessarily indicative of the results of operations which may be expected for any future period.

        June 30,
        December 31,
        2025
        2024
    Selected Financial Condition Data:   (In thousands)
                   
    Total assets $ 5,854,672     $ 5,981,628  
    Loans receivable, gross   4,604,943       4,761,848  
    Allowance for credit losses   64,815       64,760  
    Other real estate owned, net   6,040       5,993  
    Available-for-sale securities, at fair value   527,543       533,373  
    Held-to-maturity securities, at amortized cost   183,100       187,433  
    Deposits   4,684,126       4,605,549  
    Total borrowings   450,483       679,341  
    Total stockholders’ equity   622,368       599,568  
    Non-performing assets   8,084       9,566  
                   
        Three Months Ended     Six Months Ended     Three Months
    Ended
        June 30,     June 30,     March 31,
        2025     2024     2025     2024
        2025
        (In thousands)
    Selected Operating Data:                              
    Interest income $ 80,975     $ 80,927     $ 161,218     $ 158,317     $ 80,243  
    Interest expense   30,012       34,109       60,921       66,683       30,909  
    Net interest income   50,963       46,818       100,297       91,634       49,334  
    Provision (credit) for credit losses on loans and unfunded commitments   (110 )     (607 )     (458 )     23       (348 )
    Non-interest income   8,212       9,833       14,802       16,639       6,590  
    Non-interest expense   35,005       36,409       69,827       70,831       34,822  
    Provision for income taxes   4,494       3,861       8,784       7,024       4,290  
    Net income $ 19,786     $ 16,988     $ 36,946     $ 30,395     $ 17,160  
                                   
      At or For the Three
    Months Ended
      At or For the Six
    Months Ended
      At or For the Three
    Months Ended
      June 30,   June 30,   March 31,
      2025   2024   2025   2024   2025
      (Dollars in thousands, except per share data)
    Per Common Share:              
    Net income (fully diluted) $ 1.72     $ 1.45     $ 3.18     $ 2.58     $ 1.47  
    Book value $ 54.61     $ 49.11     $ 54.61     $ 49.11     $ 53.03  
                   
    Earnings Performance Ratios:              
    Annualized return on average assets   1.34 %     1.17 %     1.24 %     1.05 %     1.15 %
    Annualized return on average common stockholders’ equity   12.81 %     12.03 %     12.06 %     10.69 %     11.30 %
    Net interest margin   3.68 %     3.43 %     3.63 %     3.38 %     3.57 %
    Average interest rate spread   3.09 %     2.77 %     3.05 %     2.71 %     3.00 %
    Efficiency ratio   59.16 %     64.27 %     60.67 %     65.42 %     62.27 %
    Non-interest expense to average total assets   2.37 %     2.50 %     2.35 %     2.44 %     2.34 %
                   
    Asset Quality Ratios:              
    Allowance for credit losses to period-end loans   1.41 %     1.39 %     1.41 %     1.39 %     1.36 %
    Non-performing assets to period-end assets   0.14 %     0.34 %     0.14 %     0.34 %     0.16 %
    Non-performing loans to period-end loans   0.04 %     0.23 %     0.04 %     0.23 %     0.07 %
    Annualized net charge-offs (recoveries) to average loans   (0.01 )%     (0.01 )%     0.00 %     0.00 %     0.00 %
                   
     
    Great Southern Bancorp, Inc. and Subsidiaries
    Consolidated Statements of Financial Condition
    (In thousands, except number of shares)
                 
        June 30,
    2025
      December 31,
    2024
      March 31,
    2025
                 
    Assets            
    Cash $ 110,007   $ 109,366   $ 106,336  
    Interest-bearing deposits in other financial institutions   135,906     86,390     110,845  
    Cash and cash equivalents   245,913     195,756     217,181  
                 
    Available-for-sale securities   527,543     533,373     535,914  
    Held-to-maturity securities   183,100     187,433     185,853  
    Mortgage loans held for sale   5,616     6,937     6,857  
    Loans receivable, net of allowance for credit losses of $64,815 – June 2025; $64,760 – December 2024; $64,704 – March 2025   4,534,287     4,690,393     4,690,636  
    Interest receivable   20,644     20,430     21,504  
    Prepaid expenses and other assets   133,614     136,594     132,930  
    Other real estate owned and repossessions, net   6,040     5,993     6,036  
    Premises and equipment, net   134,337     132,466     132,165  
    Goodwill and other intangible assets   9,877     10,094     9,985  
    Federal Home Loan Bank stock and other interest-earning assets   23,714     28,392     25,813  
    Current and deferred income taxes   29,987     33,767     28,968  
                 
    Total Assets $ 5,854,672   $ 5,981,628   $ 5,993,842  
                 
    Liabilities and Stockholders’ Equity            
    Liabilities            
    Deposits $ 4,684,126   $ 4,605,549   $ 4,758,046  
    Securities sold under reverse repurchase agreements with customers   54,802     64,444     75,322  
    Short-term borrowings   369,907     514,247     359,907  
    Subordinated debentures issued to capital trust   25,774     25,774     25,774  
    Subordinated notes       74,876     74,950  
    Accrued interest payable   4,065     12,761     5,416  
    Advances from borrowers for taxes and insurance   8,822     5,272     7,451  
    Accounts payable and accrued expenses   76,763     70,634     65,528  
    Liability for unfunded commitments   8,045     8,503     8,155  
    Total Liabilities   5,232,304     5,382,060     5,380,549  
                 
    Stockholders’ Equity            
    Capital stock            
    Preferred stock, $.01 par value; authorized 1,000,000 shares; issued and outstanding June 2025, December 2024 and March 2025 -0- shares            
    Common stock, $.01 par value; authorized 20,000,000 shares; issued and outstanding June 2025 – 11,396,533 shares; December 2024 – 11,723,548 shares; March 2025 – 11,565,211 shares   114     117     116  
    Additional paid-in capital   51,646     50,336     51,076  
    Retained earnings   611,921     603,477     606,239  
    Accumulated other comprehensive loss   (41,313 )   (54,362 )   (44,138 )
    Total Stockholders’ Equity   622,368     599,568     613,293  
                 
    Total Liabilities and Stockholders’ Equity $ 5,854,672   $ 5,981,628   $ 5,993,842  
                       
     
    Great Southern Bancorp, Inc. and Subsidiaries
    Consolidated Statements of Income
    (In thousands, except per share data)
                   
        Three Months Ended     Six Months Ended   Three Months Ended
        June 30,     June 30,   March 31,
        2025     2024     2025     2024     2025
    Interest Income                            
    Loans $ 73,830     $ 74,295     $ 146,901     $ 145,371     $ 73,071  
    Investment securities and other   7,145       6,632       14,317       12,946       7,172  
        80,975       80,927       161,218       158,317       80,243  
    Interest Expense                            
    Deposits   24,368       27,783       48,968       55,420       24,600  
    Securities sold under reverse repurchase agreements   372       394       743       727       371  
    Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities   3,974       4,373       8,424       7,417       4,450  
    Subordinated debentures issued to capital trust   389       454       771       908       382  
    Subordinated notes   909       1,105       2,015       2,211       1,106  
        30,012       34,109       60,921       66,683       30,909  
                                 
    Net Interest Income   50,963       46,818       100,297       91,634       49,334  
    Provision for Credit Losses on Loans                     500        
    Provision (Credit) for Unfunded Commitments   (110 )     (607 )     (458 )     (477 )     (348 )
    Net Interest Income After Provision for Credit Losses and Provision (Credit) for Unfunded Commitments   51,073       47,425       100,755       91,611       49,682  
                                 
    Non-interest Income                            
    Commissions   411       269       673       650       262  
    Overdraft and Insufficient funds fees   1,266       1,230       2,481       2,519       1,215  
    POS and ATM fee income and service charges   3,444       3,588       6,678       6,771       3,234  
    Net gains on loan sales   893       1,127       1,494       1,804       601  
    Late charges and fees on loans   340       136       583       303       243  
    Gain (loss) on derivative interest rate products   (28 )     (7 )     (52 )     (20 )     (24 )
    Other income   1,886       3,490       2,945       4,612       1,059  
        8,212       9,833       14,802       16,639       6,590  
                                 
    Non-interest Expense                            
    Salaries and employee benefits   20,005       19,886       40,134       39,542       20,129  
    Net occupancy and equipment expense   8,435       7,841       16,968       15,680       8,533  
    Postage   825       777       1,756       1,584       931  
    Insurance   1,095       1,263       2,260       2,407       1,165  
    Advertising   705       891       995       1,241       290  
    Office supplies and printing   238       236       504       503       266  
    Telephone   705       685       1,411       1,406       706  
    Legal, audit and other professional fees   929       1,864       1,967       3,589       1,038  
    Expense (income) on other real estate and repossessions   (168 )     285       (238 )     346       (70 )
    Acquired intangible asset amortization   108       109       216       217       108  
    Other operating expenses   2,128       2,572       3,854       4,316       1,726  
        35,005       36,409       69,827       70,831       34,822  
                                 
    Income Before Income Taxes   24,280       20,849       45,730       37,419       21,450  
    Provision for Income Taxes   4,494       3,861       8,784       7,024       4,290  
                                 
    Net Income $ 19,786     $ 16,988     $ 36,946     $ 30,395     $ 17,160  
                                 
    Earnings Per Common Share                            
    Basic $ 1.73     $ 1.46     $ 3.20     $ 2.60     $ 1.47  
    Diluted $ 1.72     $ 1.45     $ 3.18     $ 2.58     $ 1.47  
                                 
    Dividends Declared Per Common Share $ 0.40     $ 0.40     $ 0.80     $ 0.80     $ 0.40  
                                 
     
    Average Balances, Interest Rates and Yields
     

    The following table presents, for the periods indicated, the total dollar amounts of interest income from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates, and the net interest margin. Average balances of loans receivable include the average balances of nonaccrual loans for each period. Interest income on loans includes interest received on nonaccrual loans on a cash basis. Interest income on loans also includes the amortization of net loan fees, which were deferred in accordance with accounting standards. Net fees included in interest income were $1.1 million for both the three months ended June 30, 2025 and 2024. Net fees included in interest income were $2.1 million and $2.3 million for the six months ended June 30, 2025 and 2024, respectively. Tax-exempt income was not calculated on a tax equivalent basis. The table does not reflect any effect of income taxes.

      June 30, 2025       Three Months Ended
    June 30, 2025
      Three Months Ended
    June 30, 2024
     
              Average         Yield/       Average         Yield/  
      Yield/Rate       Balance     Interest   Rate       Balance     Interest   Rate  
      (Dollars in thousands)  
    Interest-earning assets:                                        
    Loans receivable:                                        
    One- to four-family residential 4.24 %   $ 822,283   $ 8,750   4.27 %   $ 877,957   $ 8,769   4.02 %
    Other residential 6.91       1,565,447     27,281   6.99       1,072,168     19,633   7.36  
    Commercial real estate 6.19       1,489,015     23,082   6.22       1,499,893     23,296   6.25  
    Construction 7.07       480,254     8,617   7.20       803,478     15,525   7.77  
    Commercial business 5.93       208,119     3,517   6.78       266,187     4,375   6.61  
    Other loans 6.39       167,548     2,583   6.18       170,467     2,697   6.36  
                                             
    Total loans receivable 6.16       4,732,666     73,830   6.26       4,690,150     74,295   6.37  
                                             
    Investment securities 3.17       727,336     6,099   3.36       696,239     5,347   3.09  
    Other interest-earning assets 4.37       97,463     1,046   4.30       97,340     1,285   5.31  
                                             
    Total interest-earning assets 5.74       5,557,465     80,975   5.84       5,483,729     80,927   5.94  
    Non-interest-earning assets:                                        
    Cash and cash equivalents         100,289                 94,669            
    Other non-earning assets         256,923                 250,244            
    Total assets       $ 5,914,677               $ 5,828,642            
                                             
    Interest-bearing liabilities:                                        
    Interest-bearing demand and savings 1.41     $ 2,225,933     7,791   1.40     $ 2,234,824     9,794   1.76  
    Time deposits 3.42       757,608     6,521   3.45       894,475     9,073   4.08  
    Brokered deposits 4.44       895,340     10,056   4.50       683,337     8,916   5.25  
    Total deposits 2.47       3,878,881     24,368   2.52       3,812,636     27,783   2.93  
    Securities sold under reverse repurchase agreements 2.33       65,607     372   2.27       76,969     394   2.06  
    Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities 4.55       347,303     3,974   4.59       339,270     4,373   5.18  
    Subordinated debentures issued to capital trust 6.14       25,774     389   6.05       25,774     454   7.08  
    Subordinated notes       62,631     909   5.82       74,699     1,105   5.95  
                                             
    Total interest-bearing liabilities 2.66       4,380,196     30,012   2.75       4,329,348     34,109   3.17  
    Non-interest-bearing liabilities:                                        
    Demand deposits         849,862                 853,555            
    Other liabilities         66,585                 80,905            
    Total liabilities         5,296,643                 5,263,808            
    Stockholders’ equity         618,034                 564,834            
    Total liabilities and stockholders’ equity       $ 5,914,677               $ 5,828,642            
                                             
    Net interest income:             $ 50,963               $ 46,818      
    Interest rate spread 3.08 %               3.09 %               2.77 %
    Net interest margin*                   3.68 %               3.43 %
    Average interest-earning assets to average interest-bearing liabilities         126.9 %               126.7 %          
                                             

    *Defined as the Company’s net interest income divided by average total interest-earning assets.

      June 30, 2025       Six Months Ended
    June 30, 2025
      Six Months Ended
    June 30, 2024
     
              Average         Yield/       Average         Yield/  
      Yield/Rate       Balance     Interest   Rate       Balance     Interest   Rate  
      (Dollars in thousands)  
    Interest-earning assets:                                        
    Loans receivable:                                        
    One- to four-family residential 4.24 %   $ 826,426   $ 17,318   4.23 %   $ 883,963   $ 17,466   3.97 %
    Other residential 6.91       1,555,881     53,731   6.96       1,016,071     36,491   7.22  
    Commercial real estate 6.19       1,499,665     46,096   6.20       1,499,767     46,064   6.18  
    Construction 7.07       485,392     17,270   7.17       830,025     31,368   7.60  
    Commercial business 5.93       209,944     7,339   7.05       276,131     8,984   6.54  
    Other loans 6.39       166,989     5,147   6.22       172,051     4,998   5.84  
                                             
    Total loans receivable 6.16       4,744,297     146,901   6.24       4,678,008     145,371   6.25  
                                             
    Investment securities 3.17       732,699     12,173   3.35       682,960     10,357   3.05  
    Other interest-earning assets 4.37       101,238     2,144   4.27       98,922     2,589   5.26  
                                             
    Total interest-earning assets 5.74       5,578,234     161,218   5.83       5,459,890     158,317   5.83  
    Non-interest-earning assets:                                        
    Cash and cash equivalents         100,537                 92,572            
    Other non-earning assets         259,692                 243,029            
    Total assets       $ 5,938,463               $ 5,795,491            
                                             
    Interest-bearing liabilities:                                        
    Interest-bearing demand and savings 1.41     $ 2,223,716     15,588   1.41     $ 2,229,302     19,276   1.74  
    Time deposits 3.42       764,791     13,235   3.49       916,098     18,238   4.00  
    Brokered deposits 4.44       893,983     20,145   4.54       686,079     17,906   5.25  
    Total deposits 2.47       3,882,490     48,968   2.54       3,831,479     55,420   2.91  
    Securities sold under reverse repurchase agreements 2.33       73,957     743   2.03       75,718     727   1.93  
    Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities 4.55       369,849     8,424   4.59       290,431     7,417   5.14  
    Subordinated debentures issued to capital trust 6.14       25,774     771   6.03       25,774     908   7.08  
    Subordinated notes       68,741     2,015   5.91       74,659     2,211   5.96  
                                             
    Total interest-bearing liabilities 2.66       4,420,811     60,921   2.78       4,298,061     66,683   3.12  
    Non-interest-bearing liabilities:                                        
    Demand deposits         835,888                 854,202            
    Other liabilities         68,961                 74,391            
    Total liabilities         5,325,660                 5,226,654            
    Stockholders’ equity         612,803                 568,837            
    Total liabilities and stockholders’ equity       $ 5,938,463               $ 5,795,491            
                                             
    Net interest income:             $ 100,297               $ 91,634      
    Interest rate spread 3.08 %               3.05 %               2.71 %
    Net interest margin*                   3.63 %               3.38 %
    Average interest-earning assets to average interest-bearing liabilities         126.2 %               127.0 %          
                                             

    *Defined as the Company’s net interest income divided by average total interest-earning assets.

    NON-GAAP FINANCIAL MEASURES

    This document contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”), specifically, the ratio of tangible common equity to tangible assets.

    In calculating the ratio of tangible common equity to tangible assets, we subtract period-end intangible assets from common equity and from total assets. Management believes that the presentation of this measure excluding the impact of intangible assets provides useful supplemental information that is helpful in understanding our financial condition and results of operations, as it provides a method to assess management’s success in utilizing our tangible capital as well as our capital strength. Management also believes that providing a measure that excludes balances of intangible assets, which are subjective components of valuation, facilitates the comparison of our performance with the performance of our peers. In addition, management believes that this is a standard financial measure used in the banking industry to evaluate performance.

    This non-GAAP financial measurement is supplemental and is not a substitute for any analysis based on GAAP financial measures. Because not all companies use the same calculation of non-GAAP measures, this presentation may not be comparable to other similarly titled measures as calculated by other companies.

    Non-GAAP Reconciliation: Ratio of Tangible Common Equity to Tangible Assets

        June 30,       December 31,  
        2025       2024  
        (Dollars in thousands)  
           
    Common equity at period end $ 622,368     $ 599,568  
    Less: Intangible assets at period end   9,877       10,094  
    Tangible common equity at period end (a) $ 612,491     $ 589,474  
                   
    Total assets at period end $ 5,854,672     $ 5,981,628  
    Less: Intangible assets at period end   9,877       10,094  
    Tangible assets at period end (b) $ 5,844,795     $ 5,971,534  
                   
    Tangible common equity to tangible assets (a) / (b)   10.48 %     9.87 %
                   

    CONTACT:

    Jeff Tryka, CFA,
    Investor Relations,
    (616) 233-0500
    GSBC@lambert.com

    The MIL Network

  • MIL-OSI: Cloud mining revolutionizes the way to increase the value of crypto assets: Ripplecoin Mining allows XRP, BTC, and Solana holders to achieve daily income

    Source: GlobeNewswire (MIL-OSI)

    Weston, Massachusetts, July 16, 2025 (GLOBE NEWSWIRE) — As the cryptocurrency market continues to fluctuate, more and more investors are looking for a stable income channel that does not rely on market conditions. Ripplecoin Mining’s newly launched mobile cloud mining application is providing a new passive income path for holders of mainstream currencies such as XRP, Bitcoin (BTC) and Solana: users no longer just wait for the price of the currency to rise, but rent computing power and participate in daily dividends to achieve continuous growth of assets.

    Market turmoil drives investment strategy transformation, cloud mining becomes a new option for hedging

    As the legal tug-of-war between Ripple and the U.S. Securities and Exchange Commission (SEC) draws to a close, the market is re-heating up on the future prospects of XRP; at the same time, Bitcoin (BTC) has retreated to about $117,000 after hitting a record high of $123,000, triggering a large-scale fund rebalancing. On-chain data shows that many long-term holders (“whale” addresses) have transferred some BTC to centralized exchanges, releasing potential selling pressure signals. Affected by the slowdown in ETF fund flows and macroeconomic uncertainties, short-term market volatility has significantly increased.

    Against this backdrop, more and more investors have begun to turn their funds to “non-transactional” income channels such as cloud mining, giving priority to locking in daily stable returns and reducing their reliance on drastic market price fluctuations. Platforms such as Ripplecoin Mining have become the preferred tools for current crypto holders to build a stable cash flow due to their advantages such as no hardware required, daily settlement of income, and green energy drive.

    A report released by ChainProof, a third-party blockchain data platform, pointed out that in the past month, the number of users using Ripplecoin Mining cloud mining services has increased by 23.5%, of which more than 46% completed registration and operation through mobile devices. This trend shows that mining is no longer limited to high-threshold professional scenarios, but is gradually opening up to ordinary users.

    Simplify the mining process: three steps to participate

    The Ripplecoin Mining mobile app is compatible with iOS and Android systems. Users only need to complete the following three steps to start the remote mining experience:

    Quick registration: Register an account via email to get a free trial of $15 cloud computing power;
    Choose a contract: Supports payment in currencies such as XRP, BTC, ETH, DOGE, etc. The contract is flexible and diverse, and the income is distributed on a daily basis;

    Receive daily income: The system will automatically allocate global computing resources, and users can view and receive income in the App every day.

    This innovative model greatly simplifies the hardware equipment, power configuration and technical threshold required for traditional mining, allowing every cryptocurrency holder to easily obtain miner-level income.

    Smart and green: Dual guarantee of technology and energy

    Ripplecoin Mining has more than 120 green data nodes distributed in North America, Europe and Asia Pacific. The system adopts AI intelligent scheduling algorithm, which can respond to the computing power requests of global users within one second, which not only improves efficiency, but also realizes a low-carbon and environmentally friendly mining ecology.
    The platform spokesperson said: “We hope that every coin holder can participate in this global computing power network without worrying about equipment, technology or electricity costs.”

    User voice: Stable income brings peace of mind

    James, an XRP investor from Manchester, UK, shared his experience: “In the past, I was often anxious about the fluctuations in the currency price. Now, through cloud mining, I have stable income every day, which makes me more confident in the future.”
    On social platforms such as Reddit and Telegram, users’ positive comments on the application are increasing. They not only agree with its ease of use, but also regard it as a safe and continuous asset management tool.

    Future development: Multi-currency combined mining is about to go online

    Ripplecoin Mining revealed that it will launch the “combined mining” function next, allowing users to participate in mining plans of multiple currencies in the same contract at the same time, thereby further enhancing the stability of income and the flexibility of asset allocation.
    At the same time, the company will also expand its international layout, focusing on expanding the Canadian, British and Southeast Asian markets, so that more users can experience this barrier-free, green and compliant mining solution.

    About Ripplecoin Mining

    Ripplecoin Mining was established in 2017 and is registered in the UK. It is the world’s leading compliant cloud mining platform. The platform supports mainstream currencies such as XRP, BTC, ETH, DOGE, etc., and provides convenient, safe and sustainable mining services to more than 9.5 million users worldwide with green energy infrastructure, AI computing power scheduling and simplified user experience.
    Experience cloud mining now:
    Official website: https://ripplecoinmining.com

    App download address: https://ripplecoinmining.com/xml/index.html#/app

    Media contact: info@ripplecoinmining.com

    The MIL Network

  • MIL-OSI United Nations: From diamonds to dirt: Sierra Leone youth bring land back to life

    Source: United Nations 2

    But now, parts of the land have been restored. Crops are beginning to flourish and bees are buzzing around once again.

    The people responsible for this change are a hodgepodge group – former taxi drivers and miners, people who barely finished secondary school and some with higher education degrees. The unifying factor? Most have youth on their side.

    There is life beyond mining [but] we all grew up with the mentality that diamond is the only solution,” said Sahr Fallah, chairman of the Youth Council in Kono.

    Over 44 percent of the 1.3 billion people aged 15-24 are employed in agrifood systems. However, this group often does not have the same access to resources as older generations. Moreover, they are sidelined in the conversations which might change this systemic exclusion.

    © UNICEF/Olivier Asselin

    Young men work on a diamond mining site near Koidu, Sierra Leone. (file)

    A lot of the time, what we find is that young people are included in policy processes but it is a little bit tokenistic. They don’t feel like their voice really matters,” said Lauren Phillips, a deputy director at the Food and Agriculture Organization (FAO).

    Decent work = economic growth

    The High-Level Political Forum on Sustainable Development in New York has been convened this week and next, to discuss progress – or lack thereof – towards the globally agreed Sustainable Development Goals (SDGs), one of which guarantees decent work for all.

    Despite this commitment, over half of the global workforce remains in informal employment, according to the Secretary-General’s report on the SDGs released Monday. This means that they do not have adequate social or legal protections.

    Decent work must be at the heart of macroeconomic planning, climate and diesel transitions and social recovery strategies,” said Sangheon Lee, director of employment policy at the International Labor Organization (ILO).

    Don’t ignore youth

    Like other vulnerable groups, young people face unique challenges in the agrifood sector. Specifically, they often lack land rights and will struggle to act collectively to protect their interests.

    “If you are not looking at data with a lens of age or gender, you are actually missing part of the story,” Ms. Phillips said.

    Among these assets are land titles – which the elderly may be reluctant to pass down because of insufficient social protections. Youth also are less able to access credit so they can invest in themselves and their families.

    Betty Seray Sam, one of the young farmers in Kono, said that her family never used to come to her when they were going through a crisis – they knew that she had no money and a child to support.

    © FAO/Heba Khamis

    Young farmers load tomatoes onto trucks in Nubaria, Egypt.

    But now, through an agricultural job in Kono, she can support her family during times of crisis.

    This project has had a rippling effect for the youth in terms of not only improving their livelihoods but also the livelihoods of their families,” said Abdul Munu, president of Mabunduku, a community-based farmer’s organization in Kono.

    Bee a farmer

    Providing training to young people in agrifood systems is absolutely essential to ensure that they can practice sustainable agriculture.

    In Chegutu, Zimbabwe, FAO has helped establish Bee Farmers Schools where young people are taught how to support apiaries through hands-on training activities.

    “The idea is that one of the apiaries can be turned into a classroom where youth from different parts of a district can come just like a school,” said Barnabas Mawire, a natural resource specialist at FAO.

    This training has helped support local youth beekeepers to move beyond local and small-scale honey production to a fully-fledged business model that has the potential to not just fight poverty but actually create local wealth.

    Evelyn Mutuda, the young entrepreneurs representative in Chegutu, aspires to plant Jacaranda trees which she says will improve the quality of the bees’ honey and enable the beekeepers to export beyond local markets.

    “We want to maximize all the profits so we can become better and bigger,” Ms. Mutuda said.

    From Facebook to TikTok

    Being able to form labour associations is one of the key factors of decent work. This sort of collective action is even more important for youth in agrifood who often lack the social capital to enact real policy change.

    “Young people are just starting out, making bonds within their group but also with people outside of their group. Those bonds are important…because there is power in numbers,” Ms. Phillips said.

    She also noted that young people are forming these bonds across geographic distances, often by using technology. Agrifood influencers on Instagram and TikTok, for example, are increasingly shaping conversations about the sector.

    Ms. Phillips also noted that it is important to think of collective action for youth as intergenerational.

    “While the report is focused on young people, it’s not ignorant of the fact that young people live in families…There is a lot which talks about the need for solidarity between generations,” Ms. Phillips said.

    Youth optimism

    The next generation will be the stewards of the food we eat, so integrating them into that system now is essential for future food security and sustainability.

    Many youth integrate tradition with innovation, creating sustainability and community resilience,” said Venedio Nala Ardisa, a youth representative at the Asia Indigenous Peoples Pact, at an online side event during the high-level forum.

    Angeline Manhanzva, one of the beekeepers in Chegutu, said that the opportunity to become a beekeeper changed her life. One day, she dreams of owning her own bee farm.

    “I will be an old person who has so much wealth and is able to buy her own big land to keep my hives and process my own honey.” 

    MIL OSI United Nations News

  • MIL-OSI New Zealand: Job seekers move into work

    Source: New Zealand Government

    More than 80,700 people moved off a main benefit and into work in the last financial year, Social Development and Employment Minister Louise Upston says. 

    “Despite challenging economic conditions, the Government has been relentlessly focused on getting New Zealanders into work. It’s encouraging that 80,000 Kiwis were able to kick start new roles over the past 12 months and there will be more to come.” 

    Overall, MSD stats released today show that as expected in the current economic climate, the overall number of people receiving a benefit has increased, ahead of a forecast decrease from December. 

    The number of people receiving a main benefit in June 2025 (406,128) increased by 7,965 (2.0 percent) compared to March 2025 (398,163).

    The number of people receiving Jobseeker Support in June 2025 (216,009) increased by 6,171 (2.9 percent) compared to March 2025 (209,838).

    “Over the last three years, MSD have traditionally seen a trend of more people coming onto benefit in the March to June period,” Louise Upston says.  “It’s likely this is partially because there’s less seasonal work around during the winter months.”

    “MSD is continuing to provide great support to job seekers on the frontline. Our Government has increased the number of people in case management at any one time from 60,000 to 70,000 people. 10,000 of those are getting help through a new phone-based case management service. That’s more people getting more support. 

    “We’ve got 2,100 more places for young people to get community job coaching, more regular work seminars, employment plans to help people get ready for work, and a traffic light system to help them stay on track with their obligations.

    “People now also have to reapply for their benefit every six months, instead of just once a year. This gives MSD an extra opportunity to support them into a job.

    “We know some Kiwis are still doing it tough while the economy recovers, but we’re working as hard as possible to get New Zealanders off welfare and into work,” Louise Upston says.

    MIL OSI New Zealand News

  • MIL-OSI USA: SPC Severe Thunderstorm Watch 520

    Source: US National Oceanic and Atmospheric Administration

    Note:  The expiration time in the watch graphic is amended if the watch is replaced, cancelled or extended.Note: Click for Watch Status Reports.
    SEL0

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Severe Thunderstorm Watch Number 520
    NWS Storm Prediction Center Norman OK
    550 PM EDT Wed Jul 16 2025

    The NWS Storm Prediction Center has issued a

    * Severe Thunderstorm Watch for portions of
    Northern Indiana
    Southwest Lower Michigan
    Lake Michigan

    * Effective this Wednesday afternoon from 550 PM until Midnight
    EDT.

    * Primary threats include…
    Scattered damaging wind gusts to 65 mph possible

    SUMMARY…Thunderstorms currently affecting northeast Illinois will
    track eastward across the watch area through the early evening.
    Locally damaging wind gusts are the primary concern.

    The severe thunderstorm watch area is approximately along and 40
    statute miles east and west of a line from 60 miles south of South
    Bend IN to 35 miles north northwest of Kalamazoo MI. For a complete
    depiction of the watch see the associated watch outline update
    (WOUS64 KWNS WOU0).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Severe Thunderstorm Watch means conditions are
    favorable for severe thunderstorms in and close to the watch area.
    Persons in these areas should be on the lookout for threatening
    weather conditions and listen for later statements and possible
    warnings. Severe thunderstorms can and occasionally do produce
    tornadoes.

    &&

    OTHER WATCH INFORMATION…CONTINUE…WW 517…WW 518…WW 519…

    AVIATION…A few severe thunderstorms with hail surface and aloft to
    1 inch. Extreme turbulence and surface wind gusts to 55 knots. A few
    cumulonimbi with maximum tops to 500. Mean storm motion vector
    25025.

    …Hart

    Note: The Aviation Watch (SAW) product is an approximation to the watch area. The actual watch is depicted by the shaded areas.
    SAW0
    WW 520 SEVERE TSTM IN MI LM 162150Z – 170400Z
    AXIS..40 STATUTE MILES EAST AND WEST OF LINE..
    60S SBN/SOUTH BEND IN/ – 35NNW AZO/KALAMAZOO MI/
    ..AVIATION COORDS.. 35NM E/W /38ENE BVT – 15WSW GRR/
    HAIL SURFACE AND ALOFT..1 INCH. WIND GUSTS..55 KNOTS.
    MAX TOPS TO 500. MEAN STORM MOTION VECTOR 25025.

    LAT…LON 40838709 42698660 42698503 40838555

    THIS IS AN APPROXIMATION TO THE WATCH AREA. FOR A
    COMPLETE DEPICTION OF THE WATCH SEE WOUS64 KWNS
    FOR WOU0.

    Watch 520 Status Report Message has not been issued yet.

    Note:  Click for Complete Product Text.Tornadoes

    Probability of 2 or more tornadoes

    Low (

    MIL OSI USA News

  • MIL-OSI USA: News 07/16/2025 VIDEO: Blackburn Details Wasteful Government Spending, Highlighting Need for Senate to Pass Rescissions Package

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)
    WASHINGTON, D.C. – U.S. Senator Marsha Blackburn (R-Tenn.) delivered remarks on the Senate floor detailing the need for the U.S. Senate to pass the $9 billion rescissions package to eliminate wasteful government spending.

    Click here to download Senator Blackburn’s remarks on the Senate floor. 
    REMARKS AS PREPARED
    America’s Current Fiscal Path Is Unsustainable, and President Trump Has a Mandate to Rein in Wasteful Spending
    Mister President, when I talk to Tennesseans, one of the biggest concerns they have for our nation’s future is our national debt.
    After four years of reckless, far-left spending under the Biden administration, it now sits at $37 trillion.
    That’s $108,000 for every American citizen.
    Today, we are spending more on interest payments on the debt than what we spend to fund our entire military. 
    Tennesseans and the American people know that this path is unsustainable.
    That’s why they returned President Trump to the Oval Office with a mandate to rein in wasteful spending.
    And that’s exactly what he has done.
    Congress Must Permanently Eliminate Wasteful Spending
    Since Inauguration Day, this administration has identified more than $190 billion in potential savings across the federal government—on everything from unused office space to far-left DEI programming.
    This is a victory for the American people.
    But while President Trump can stop these funds from going out the door, it is Congress’s responsibility to claw them back and make these savings permanent.
    Otherwise, a future Democrat President could open the floodgates of wasteful spending once again.
    That’s why Republicans are moving forward with a rescissions package this week that will save American taxpayers $9 billion.
    With our national debt at unsustainable levels, we must be careful stewards of taxpayer dollars. That means eliminating obvious waste that serves no benefit for the American people.
    Rescissions Package Will Eliminate Reckless Spending on Biased Public Media
    That’s exactly what this bill accomplishes, and this is only the beginning of the Trump administration’s efforts to eliminate reckless spending.
    It eliminates $1.1 billion for the Corporation for Public Broadcasting.
    This is the organization that funds NPR and PBS—which have pushed left-wing ideology on the taxpayers’ dime for years.
    NPR’s CEO, Katherine Maher, has called President Trump a “fascist” and “deranged racist.”
    Ahead of the 2020 election, her outlet refused to cover the revelations about Hunter Biden’s laptop and overseas business deals—which turned out to be entirely true.
    As NPR’s leadership put it at the time: “We don’t want to waste the listeners’ and readers’ time on stories that are just pure distractions.”
    Rescissions Package Will Cut Billions in Foreign Spending That Undermines American Values
    The rescissions package also cuts billions in foreign spending that does absolutely nothing to promote American values and interests abroad:
    $4 million for “sedentary migrants” in Colombia;
    $3 million for an Iraqi version of Sesame Street;
    $1 million for voter ID efforts in Haiti;
    $500,000 for electric buses in Rwanda;
    $6 million for “Net Zero Cities” in Mexico;
    $2.1 million for “climate resilience” in Asia, Latin America, and Africa.
    And on and on.
    At the same time, the package eliminates $1 billion in funding for international organizations that work against American interests, including:
    $135 million for the corrupt World Health Organization, which covered for Communist China throughout the COVID pandemic;
    And $8 million for the UN Human Rights Council, which supports dictators and repressive regimes while demonizing our ally, Israel.
    Americans Support Fiscal Responsibility 
    All in all, these savings are just common sense.
    The American people support these cuts. They want fiscal responsibility. They want a future where their children and grandchildren do not have to bear the burden of crippling debt. And this rescissions package is an incredible first step in taking on this problem. 

    MIL OSI USA News

  • MIL-OSI United Nations: World News in Brief: Haiti funding cuts bite, civilian suffering intensifies in Myanmar, Belarus deaths in custody alert

    Source: United Nations MIL OSI b

    Ongoing violence is compounding the country’s food crisis, disrupting local food production in critical areas such as the commune of Kenscoff and the Artibonite department, often considered the breadbaskets of Haiti.

    While the UN and its partners are responding “wherever and whenever possible,” UN Spokesperson Stéphane Dujarric said this Wednesday that humanitarians have only been able to reach 38 per cent of the population they aim to support.

    Multiple roadblocks

    “This is due to ongoing violence and insecurity, severe underfunding of the response, and the obvious access challenges,” he said.

    Over halfway through the year, Haiti is the least-funded of the many humanitarian appeals that the UN coordinates – despite shortfalls for food security in the country being at extreme levels – with just over two per cent of the $425 million needed this year received to date.

    Myanmar: Intensifying conflict impedes humanitarian aid

    Almost four months after Myanmar’s devastating earthquake, the UN is deeply concerned over the plight of civilians caught up in the country’s devastating and continuing conflict between the military regime and opposition armed groups.

    As fighting intensifies, civilians are particularly vulnerable, with increasing attacks on infrastructure.

    According to reports, an air strike hit a monastery in Sagan Township in Sagaing Region on 11 July, killing 22 people and injuring at least 50 others. The monastery had been providing shelter to displaced people who had fled nearby villages.

    A displacement camp in North Shan State was also reportedly hit by an airstrike over the weekend.

    ‘Broader pattern’

    “These incidents are part of a broader pattern of attacks affecting people across Myanmar,” said Mr. Dujarric, with frequent reports of people being killed, injured or displaced by violence.

    Such insecurity also impacts the ability of humanitarian teams to reach people in need: with one in three people now facing acute hunger, and the current monsoon season having caused flooding, “the UN urgently calls on all parties to respect human rights and international humanitarian law,” he said.

    Belarus: Rights experts urge probe into deaths in custody of opposition activists

    Top independent human rights experts called on Belarus on Wednesday to launch urgent investigations into the deaths of several people jailed for political dissent.

    The experts – who are known as Special Rapporteurs – highlighted the case of 61-year-old businessman Valiantsin Shtermer. He died in May 2025 while serving his sentence in a so-called “Correctional Colony” in Šklou.

    Mr. Shtermer had been jailed for making critical remarks about Russia’s full-scale invasion of Ukraine. Despite his serious medical condition, he was allegedly denied adequate care in prison.

    Fifty-year-old opposition activist Vitold Ashurak meanwhile, also died shortly after being placed in an isolation in the same prison.

    According to the Special Rapporteurs, Mr. Ashurak was a member of the Belarusian National Front who was jailed for violating public order during protests related to the disputed 2020 presidential elections.

    We must not ignore these deaths

    “These deaths must not be ignored,” said the experts, who added that there were strong grounds to believe that they resulted from abuse or neglect linked to the exercise of fundamental rights.

    “It is of the utmost importance to thoroughly investigate the alleged instances of ill-treatment and neglect that resulted in the deaths of Shtermer, Ashurak, Puškin and other persons designated as political prisoners by human rights defenders,” the Human Rights Council appointed experts underscored.

    “There are strong reasons to believe that these individuals lost their lives in retaliation for exercising their civil and political rights, including the rights to freedom of expression and peaceful assembly.”

    The independent experts voiced concern that some opposition figures had been stigmatised and labelled as “extremists” or even “terrorists”.

    Special Rapporteurs report regularly to the Human Rights Council. They are not UN staff and do not receive payment for their work.

    MIL OSI United Nations News

  • MIL-OSI New Zealand: Call for public information on Auckland marine mammal cases

    Source: NZ Department of Conservation

    Date:  17 July 2025

    Eva Obushenkova, an Investigator with DOC’s National Compliance Team, says the first incident occurred between 11:20 am and 12 pm on May 21, and involves a recreational boat skipper seen steering his vessel through a pod of bottlenose dolphins.

    “One witness has seen the vessel launched at Waiake Beach on Auckland’s North Shore,” Eva says.

    “They reported seeing the boat head straight toward the dolphins, which were clearly visible, and get very close to them.

    “Our witness has also stated the boatie later changed direction and began following the pod, steering his vessel among the dolphins and eventually stopping the engine to take photographs.”

    Under the Marine Mammals Protection Regulations, vessels cannot travel through a pod of dolphins.

    Eva says the boat involved in the incident is a Haynes Hunter named Plaisir.

    “We’d like to talk to the owner or skipper of Plaisir, and encourage them to come forward,” she says.

    Anyone who saw the incident, or can share information on the vessel, can contact DOC on 0800 DOC HOT and quote CLE Works case number 9189. Any information offered by members of the public is kept confidential by DOC.

    In a separate incident at Muriwai in Auckland in early June, members of the public discovered two dead kekeno/NZ fur seals with their heads removed on the beach. The discovery was reported to DOC.

    DOC science staff who’ve seen the images say the decapitations are the result of human actions, and not predation by another species.

    Anyone with information on the decapitation of the dead seals at Muriwai – whether it’s eye-witness reports of incidents, or other potentially valuable evidence – is asked to contact 0800 DOC HOT and quote CLE Works case 9390.

    Although DOC staff acknowledge the seals were discovered dead on the beach, there is still no justification for removing the animals’ heads. The Marine Mammals Protection Act clearly states it is illegal to take any part of a marine mammal.

    “It’s not acceptable for people to tamper with protected wildlife, and it’s illegal to remove a protected species’ head,” Eva says.

    DOC protects and nurtures more than a third of New Zealand’s landscape, marine areas, and thousands of endangered species – a role guided by several key laws like the Conservation Act, Wildlife Act, and National Parks Act. These legal frameworks ensure our unique biodiversity is properly safeguarded.

    When people or organisations don’t follow the rules, it further threatens our special places and native wildlife. DOC takes these responsibilities very seriously and has a range of enforcement tools to hold rule-breakers to account.

    However, DOC can’t be everywhere, so public eyes and ears make a real difference. DOC staff continually urge the public to help protect nature by reporting unlawful activity through 0800 DOC HOT.

    Contact

    For media enquiries contact:

    Email: media@doc.govt.nz

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Economy – Updates to Deposit Takers Act implementation timeline and standards – Reserve Bank

    Source: Reserve Bank of New Zealand

    17 July 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua has today published an updated implementation timeline for incoming changes to the prudential regulatory regime for deposit takers.

    The Deposit Takers Act 2023 (DTA) modernises the regulatory framework to help ensure the safety and soundness of deposit takers and support a stable financial system that New Zealanders can trust. 

    DTA standards will be issued by 31 May 2027 and come into effect on 1 December 2028.  

    “The standards bring to life the prudential requirements deposit takers will need to meet to be licensed under the DTA,” Director Prudential Policy Jess Rowe says.  

    Public consultation on the proposed standards took place across 2024 and 2025.  

    “We’re grateful for the insightful feedback received from submitters, and we’re now hard at work preparing the exposure drafts of the standards,” Ms Rowe says.  

    Exposure draft consultation will take place in three tranches, starting in October 2025.

    Licensing of existing deposit takers will occur over an 18-month window, running from 1 June 2027 to 30 November 2028, ahead of the standards coming into effect on 1 December of that year. The change means all banks and non-bank deposit takers will be licensed under a single, coherent regulatory regime. In late 2025, we hope to communicate information about our approach to licensing existing deposit takers under the DTA.

    Changes to the DTA implementation timeline were necessary to allow time for a review of key capital settings, announced on 31 March 2025. DTA standards were previously planned to come into effect in July 2028.

    DTA timeline – Reserve Bank of New Zealand – Te Pūtea Matua: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=e1c35a6635&e=f3c68946f8

    2025 Review of key capital settings: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=f4705877ae&e=f3c68946f8

    Response to submissions on the non-core standards

    In 2024, we received 25 submissions to public consultation on DTA non-core standards.  

    In response to feedback, we have made changes to further support a proportionate approach, reduce the impact of compliance on deposit takers, and enhance potential competition in the market. Changes resulting from consultation include removing prescriptive detail and making requirements more flexible in certain areas.

    Our overall assessment remains that we are striking a good balance between our primary financial stability mandate and our purposes and principles, including proportionality and competition.

    Deposit Takers Non-Core Standards – Reserve Bank of New Zealand – Citizen Space: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=88eeb490a1&e=f3c68946f8

    A summary of submissions on the Crisis Management Issues Paper has also been published.

    Crisis management under the Deposit Takers Act 2023 – Issues Paper – Reserve Bank of New Zealand – Citizen Space: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=aaa9de9963&e=f3c68946f8
     

    Terminology explained

    Core standards

    These are the standards that we will use as the criteria to determine the eligibility of existing banks and NBDTs for relicensing under the DTA.  

    Non-core standards

    These are the other standards that all deposit takers will need to comply with when the DTA standards regime starts but will not be used for relicensing existing deposit takers.

    Deposit takers will need to comply with all standards when they come into force in 2028.

    MIL OSI New Zealand News

  • MIL-OSI Australia: Mawson emperor penguin census

    Source: Australian Criminal Intelligence Commission

    A lucky handful of Mawson expeditioners visited the Taylor Glacier emperor penguin colony in July, to collect photos for the annual population census.
    No more than 12 people get to visit the colony each year, due to its ‘Antarctic Specially Protected Area’ (ASPA) status.
    Population counts have been ongoing since 1957, and averaged about 2500 birds between 2002 and 2023.
    This season, Mawson station’s Senior Field Training Officer, Lee Warner, and five other expeditioners, made the 90 km journey across the sea ice, to Colbeck Hut.

    Mr Warner said the party had to stop regularly to measure sea-ice thickness, which must be at least 60 cm thick for safe passage by Hägglunds.
    “Every change in appearance of the ice is generally a reason to test and assess the sea ice,” Mr Warner said.
    “Sea-ice conditions and ice thickness are influenced by glaciers, islands, snow depth, rafted ice and hidden anomalies like kelp beds, tide cracks and open water leads.  
    “We measure ice quality and thickness every hundred metres, or every few kilometres, depending on whether there are anomalies or not.”
    Once at the hut a team of four made the three kilometre trip to a vantage point above the colony where a number of automated cameras have been installed.
    The cameras take photos of the colony every day throughout the year to show when the penguins arrive and leave.
    “Pathfinding through waist deep powder snow to find the cameras to download the imagery captured over the last six to eight months is very satisfying. It’s a great team effort,” Mr Warner said.
    The team also took the all-important census photos – a series of 30 photos looking down and across the colony, which are stitched together into a panorama (see banner above). Scientists can then count the number of penguins.
    Senior Comms Tech Officer, Danny Novkovski, said the census photos and automated camera images were processed back at Mawson station and uploaded to the Head Office server for seabird expert, Dr Barbara Wienecke, to access them and conduct the census work.
    Dr Wienecke said Taylor Glacier is one of only two known sites where emperor penguins breed entirely on land, rather than land-fast sea ice (sea ice attached to land).
    The long-term monitoring project aims to assess the response of the penguins to environmental change and human activities, and ensure ASPA management plans continue to safeguard the animals.
    This content was last updated 3 minutes ago on 17 July 2025.

    MIL OSI News

  • MIL-OSI Security: Lead Defendant in Multistate Car Theft Ring Pleads Guilty

    Source: US FBI

    DAYTON, Ohio – The lead defendant in a $1.5 million chop shop conspiracy pleaded guilty in U.S. District Court. 

    Kahrese Tracey Scott Lee, 28, of Cincinnati, pleaded guilty to conspiring to transport stolen vehicles in interstate commerce and to knowingly operating a chop shop. He faces up to 15 years in prison.

    According to court documents, between at least October 2023 and October 2024, Lee, who is also known as “Reese Lee” and “Bennett Jones,” knowingly worked with others to orchestrate an interstate stolen car ring. The defendant operated a garage in Dayton and received dozens of stolen vehicles. For example, during May 2024 alone, Lee’s Dayton chop shop housed within it more than half a million dollars in stolen cars and vehicle parts.

    Lee often disassembled stolen vehicles and removed their parts for resale or for placement in another vehicle. He both received and traded or sold vehicles out of state.

    On occasion, Lee also stole vehicles himself or worked with others to do so. During one planned theft incident, Lee and others traveled from Ohio to Indiana, where they stole three vehicles valued at more than $200,000 total from an auto lot.

    Law enforcement ultimately discovered Lee and others in possession of the stolen vehicles in Alabama, where Lee planned to establish a new garage. Officers confiscated the cars and returned them to the Indiana dealership that owned them.

    Lee and his accomplices had placed a tracking device on one of the stolen cars and tracked it back to Indiana. Lee traveled back to the Indiana dealership and attempted to steal the vehicle again; however, law enforcement apprehended him as he attempted to do so.

    Lee and six others were charged by a federal indictment in November 2024.

    Kelly A. Norris, Acting United States Attorney for the Southern District of Ohio; Elena Iatarola, Special Agent in Charge, Federal Bureau of Investigation (FBI), Cincinnati Division; and Dayton Police Chief Kamran Afzal announced the guilty plea entered on July 11 before Senior U.S. District Judge Walter H. Rice. Deputy Criminal Chief Brent G. Tabacchi and Assistant United States Attorney Rob Painter are representing the United States in this case.

    # # #

     

    MIL Security OSI

  • MIL-OSI New Zealand: Search

    Source: Tertiary Education Commission

    Cyber security webinars
    Modified 19 June 2024
    Over the last year, the Cyber Security for the Tertiary Sector initiative facilitated online webinars to help organisations in the New Zealand tertiary education sector to better understand cyber security and help them decide what steps they can take to become more secure.
    https://www.tec.govt.nz/teo/working-with-teos/improving-cyber-security-in-the-tertiary-sector/how-to-improve-your-cyber-security

    MIL OSI New Zealand News

  • MIL-OSI Security: Defense News in Brief: Army’s Tropic Lightning Division Enhances Lethality in Pacific With HIMARS, Retrains Howitzer Troops

    Source: United States Department of Defense

    New High Mobility Artillery Rocket Systems rolled off aircraft in Hawaii this week. The systems are bound for a new mission with the 25th Infantry Division, also called “Tropic Lightning,” which expects to have a total of 16 HIMARS within weeks.

    MIL Security OSI

  • MIL-OSI United Kingdom: expert reaction to two papers on the use of mitochondrial donation and preimplantation genetic testing for mitochondrial disease, as published in NEJM

    Source: United Kingdom – Executive Government & Departments

    Two papers published in NEJM look at the use of mitochondrial donation an preimplantation genetic testing for mitochondrial disease.

    Dr David J Clancy, Lecturer in Biogerontology, Lancaster University, said:

    “This comment is to discuss Mitochondrial Replacement Therapy (MRT) in terms of costs and benefits in light of what we now know.

    Benefits

    “Mitochondrial replacement therapy allows women with pathogenic mitochondrial DNA to have a baby which bears her own chromosomes, while reducing or replacing the pathogenic mtDNA. If the primary purpose is to avoid mitochondrial disease, then women could also have IVF by donor sperm or donor egg (or donor embryo), or they might choose adoption if IVF technologies don’t suit them for clinical or personal reasons.

    “In chromosomal dominant diseases like Huntington’s disease, affected people are offered pre-implantation genetic testing (PGT) and they are also offered IVF using donor eggs or embryos if the patient is a woman. For these sorts of genetic disease there is currently no alternative. In these cases a woman cannot have a child bearing her own chromosomes.

    “When having a family there are two ways to break genetic lineages – inheritance down generations: one is to adopt and another is to have IVF by donor sperm or donor egg (or donor embryo). It is difficult to value genetic lineage. It will be more valuable to some, less to others. While maternity is never in doubt, paternity often is. Perhaps we should then value maternal genetic lineage more than paternal. Mitochondrial replacement therapy allows unbroken maternal lineage.

    I cannot determine whether the Mitochondrial Reproductive Advice Clinic suggests IVF by donor egg or embryo (or adoption). The paper says “Patients with heteroplasmy (part pathogenic mitochondrial DNA, part healthy) were offered PGT, and patients with homoplasmy or elevated heteroplasmy (all or mostly pathogenic mitochondrial DNA) were offered pronuclear transfer.”

    Costs

    “The money cost is presumably significant. The work was funded by Wellcome and NHS England and carried out by Newcastle University, UK and the Newcastle upon Tyne Hospitals NHS Foundation Trust. Presumably they could give an idea of the cost. This might be considered important, in an environment of limited resources for national healthcare.

    Possible harms

    “Because these babies would not exist without the MRT intervention, we want to know about possible problems; in medicine the saying is “First, do no harm”, though in current healthcare, harm is often inevitable. While the babies so far seem probably unaffected, assessing the potential for future harm as they develop by looking at the degree of heteroplasmy in the infants is a large part of the reason for the publications.

    “Measurements were on white blood cells so we don’t know about tissue mosaicism, which is where you can have high heteroplasmy in some tissues and low in others, and is common in many mitochondrial diseases. In tissues demanding high energy production (e.g. neurons), lower levels of heteroplasmy can still be symptomatic. In a mouse model, a proportion of >20% energy-deficient neurons in the brain was necessary for observable symptoms.

    “Three of eight newborns from MRT had heteroplasmy levels of 5%, 12%, and 16% (the other five were

    “All of these things were mostly known before these publications, so apparently the Human Fertilization and Embryology Authority (HFEA), who approved it, is happy with the cost-benefit ratio. It also appears that other countries also approve, because the technique is spreading; there is a clinic in North Cyprus, and Prof Mary Herbert, the study’s lead, has moved to a pioneer institution in IVF, Monash University in Melbourne, Australia, partly to introduce a mitochondrial replacement program.”

     

    Prof Joanna Poulton, Professor and Honorary Consultant in Mitochondrial Genetics, Nuffield Department of Women’s and Reproductive Health, said:

    “From this study, it isn’t clear that MD (mitochondrial donation)  has any advantage over PGT (pre-implantation genetic testing, an alternative strategy) for heteroplasmic mtDNA disorders (where patients have mixtures of normal and mutant mtDNA and severity depends on the “dose” of mutant). The “take home baby” rate and the reduction in mutant load is similar (if anything less good for MD).

    “MD has a clear theoretical advantage for homoplasmic disorders (where the mother’s mtDNA is 100% mutant), because while PGT while can be used to reduce risk, it cannot be used to reduce the load of mutant mtDNA. Over half of the MD children were from Leber Hereditary Optic Neuropathy (LHON) families, where the chance of male offspring going blind in adolescence is around 20% but only 4% for females. The risk of blindness can be reduced 5 fold using PGT to select female embryos, but they risk transmitting it to their children. Happily, male identical twins were born by MD with undetectable mutant mtDNA, they will be very low risk for blindness and as males, they will not transmit the problem to their children (because LHON is a maternally transmitted disorder). Slightly worryingly, one baby from a m.4300A>G family, where the mother has a heart disorder (cardiomyopathy) for which she may ultimately need a heart transplant, has an unspecified heart defect: they conclude it is probably unrelated to m.4300A>G but this remains uncertain. Another from a m.3260A>G family had a mutant load of 16% in blood. While this probably means the risk of symptoms is low, one symptomatic m.3260A>G woman had a blood level that was lower than this (11% with 81% in muscle).  Happily, male identical twins were born by MD with undetectable mutant mtDNA, they will be very low risk for blindness and as males, they will not transmit the problem to their children because LHON is a maternally transmitted disorder.

    “A great deal of research funding has been channelled into the centre that has developed MD. While this has generated fascinating scientific data and this treatment option is now available on the NHS, it hasn’t yet resulted in a dramatic clinical advance. Time will tell.”

    Prof Dusko Ilic, Professor of Stem Cell Science, King’s College London, said:

    “A remarkable accomplishment! State-of-the-art technology. Kudos to the team!”

     

    Prof Dagan Wells, Professor of Reproductive Genetics, University of Oxford, and Director, Juno Genetics, Oxford, said:

    “This is an important study which has been eagerly anticipated ever since the first license to carry out mitochondrial replacement therapy to avoid mitochondrial disease was granted eight years ago.

    “The results indicate that established methods for avoiding mitochondrial DNA diseases, such as preimplantation genetic testing, perform well and will be suitable for most women at risk of having an affected child.

    “A minority of patients are unable to produce any embryos free of mitochondrial disease, and for those women the study provides hope that they may be able to have healthy children in the future.

    “The treatment has succeeded in producing 8 babies, and although mitochondrial DNA mutations can be detected in the cells of most of the children, the great majority of their mitochondria are functional, and consequently they do not have mitochondrial disease.

    “The published results are very valuable, but some scientists will be a little disappointed that so much time and effort has, so far, only led to the birth of 8 children.

    “Larger studies will be needed to truly understand the value of mitochondrial replacement therapy, and to understand whether there are any risks associated with the treatment.

    “Three of the eight children born have some evidence of ‘reversal’, a phenomenon where the therapy initially succeeds in producing an embryo with very few defective mitochondria, but by the time the child is born the proportion of abnormal mitochondria in its cells has significantly increased.

    “It is not understood why reversal sometimes occurs. Taking data from the new study as well as previous research, it seems that it may affect as many as one-third of embryos produced using mitochondrial replacement therapy. Importantly, all the children in the study have low levels of abnormal mitochondria in their cells, including those where a degree of reversal has occurred. However, the fact that reversal can happen suggests there is a chance that mitochondrial replacement therapy might occasionally fail, and consequently the procedure should be seen as a way of reducing the risk of mitochondrial disease inheritance, not guaranteeing it.”

    Dr Andy Greenfield, Honorary Fellow at the Nuffield Department of Women’s & Reproductive Health, University of Oxford, said:

    “Mitochondria are the energy-producing organelles of the body’s cells.  They contain DNA (mitochondrial DNA, mtDNA) and as such are prone to changes to that DNA (mutations) that can disrupt mitochondrial function and cause disease. The paper by Hyslop et al describes the first clinical use in the UK of a technique – mitochondrial donation (MD) – aimed at reducing the risk of transmitting a class of mitochondrial diseases (mtDNA diseases) from mother to offspring. This is an often devastating and life-limiting group of diseases for which no curative treatments exist. The specific technique described, based on IVF, is pronuclear transfer (PNT), one of the two MD techniques made lawful in the UK in 2015. The last preclinical review of the safety and effectiveness of MD, commissioned by the HFEA and published in 2016, recommended its clinical use as a risk reduction strategy – to be used only in those women for whom preimplantation genetic testing (PGT, an established procedure that is used to detect genetic abnormalities, including the amount of disease-causing (pathogenic) mtDNA, in an embryo) followed by selection of an embryo with low levels of pathogenic mtDNA for transfer was unlikely to be a successful strategy i.e. only in those women with high levels of pathogenic mtDNA (elevated heteroplasmy) in all eggs or with exclusively pathogenic mtDNA in their eggs (homoplasmy). This cautious approach is at the heart of this new report, which, along with an accompanying paper by McFarland et al, assesses MD alongside PGT in an integrated programme performed at Newcastle Fertility Centre, UK, under the regulatory framework developed by the HFEA.

    “Whilst PGT for mtDNA is an established procedure that acts as a useful comparator, the attention here will be rightly focused on the MD clinical data: 22 women at high risk of transmitting mitochondrial disease to their offspring were treated using PNT, resulting in 8 live births and one ongoing pregnancy. Firstly, this headline result alone is highly significant: PNT is compatible with embryo viability in humans. Secondly, levels of pathogenic mtDNA (in blood) from the infants varied from 0% to 16%. Whilst the last figure hints at a degree of reversion to the maternal mtDNA type, it is also sufficiently low to conclude that the procedure has successfully reduced the risk of mtDNA in all children born. The amount of maternal mtDNA could, however, vary from tissue to tissue and so follow-up of these children is vitally important. McFarland et al report that none of the children has any health condition that could be straightforwardly attributed to the presence of mtDNA disease. As the authors note, there are reasons to be optimistic about the outcome of this first MD treatment in the UK.

    “The data in the last paragraph, whilst summarised very briefly, are the culmination of decades of work: from the earliest investigations in mice aimed at understanding the impacts of nuclear transfer, through to targeted experiments in human embryos to provide preclinical evidence of safety and effectiveness. But this is to focus only on some of the scientific/technical challenges that have been overcome. There were parallel activities over a similar time frame concerning ethical inquiry, public and patient engagement, law-making, drafting of regulations and execution of those regulations by committees. And last but not least: the careful establishment of a clinical pathway by which the health of the mothers and infants born could be monitored and they could be cared for (detailed in McFarland et al). This all represents a vast amount of work by a large number of people over a long period.

    “The Hyslop et al paper itself is a treasure trove of data, which will likely to be the starting points of new avenues of research and opportunities for refinement. What is the explanation for the somewhat elevated maternal mtDNA levels (still beneath the clinical threshold for disease) detected in two babies born following PNT? Further studies of mitochondrial DNA replication, segregation and interaction with the nuclear DNA may provide clues. The reduction in normally fertilized eggs in the PNT group also requires explanation and may indicate that some mtDNA pathogenic variants can compromise fertilisation of the egg, which is an energy-demanding process. This observation opens up a whole area of research concerning the role of played by mitochondria in fertility. Of course, numbers analysed here are still low and a larger and more diverse cohort will be required to draw firm conclusions about efficacy and safety of MD at a population level. We can look forward to future assessments of maternal spindle transfer (the other lawful MD technique in the UK) and even, possibly, the use of targeted, enzymatic degradation of pathogenic mtDNA to eliminate the risk of carry-over and reversion.

    “How do we summarise what this all means? It is a triumph of scientific innovation in the IVF clinic – a world-first that shows that the UK is an excellent environment in which to push boundaries in IVF; a tour de force by the embryologists who painstakingly developed and optimised the micromanipulation methods; an example of the value of clinical expertise, developed over decades of working with children and adults suffering from these devastating diseases, being used to support a new intervention and subsequent follow-up, potentially for many years. And it is so much more, depending on whether one’s perspective is that of an historian, sociologist, ethicist or philosopher. It is tempting to suggest that this report marks the end of a process – but it is actually the beginning, of a new era in which technologies that change how we think about human reproduction are introduced into a tightly regulated environment – the only way in which they should be introduced.

    “In time, there will no doubt be retrospective studies and assessments of how all this was done – some critical – and there will be much to learn. It is hoped that other papers will follow, detailing different aspects of the process by which these first UK children were born, because this whole exercise has been a steep learning curve for all involved and future progress relies on such learning being shared. Safety assessment should be at the heart of all these and future reports. Some may wonder about the time taken for these current reports to see the light of day – but that would be to underestimate what is required to transition from preclinical research activities in an academic setting to offering a bona fide clinical service on the NHS (with the spanner of COVID-19 thrown into the works for good measure). Others will wonder whether supporting the desire to have biological children merits all this time and effort, when ‘unmet clinical need’ is the focus and budgetary constraints are the norm. But this evaluation unnecessarily attempts to marginalise a human activity – ‘having children’ – that is actually central to the health and wellbeing of a significant proportion of the population. And those ordinary resemblances that parents and children often share also matter to them. Of course, the results of clinical follow-up of the children born using PNT will be a major determinant of the future prospects for mitochondrial donation in the IVF clinic, as this report acknowledges.

    “There will be many responses to this work, but I see these reports, despite their matter-of-fact understatement, as an extraordinary reminder of what well intentioned science, collaborating with medicine, can do to improve the lives of human beings.”

    Mr Stuart Lavery, Divisional Clinical Director Women’s Health and Consultant in Reproductive Medicine/Honorary Associate Professor, University College Hospitals NHS Foundation Trust, said:

    “The concept of nuclear transfer has attracted much commentary and occasionally concern and anxiety.

    “The Newcastle team have demonstrated that it can be used in a clinically effective and ethically acceptable way to prevent disease and suffering.

    “The HFEA has shown that regulation need not always be restrictive, and that permissive regulation can lead to innovation at the highest level, allowing scientists to push boundaries, patients to be successfully treated and the public to be reassured.

    “This truly represents the very best of British science and regulation.”

    Prof Bert Smeets, Professor in Clinical Genomics with focus on Mitochondrial Diseases, said:

    “These are papers, the scientific community has waited for, for a long time, as they describe the experience of the Newcastle team on pronuclear transfer to prevent the transmission of mtDNA disease, for which they got approval in 2017. The papers describe the current experience in PNT and PGT for preventing the transmission of mtDNA disease. It is good to present a reproductive care pathway, although it is not fully complete and some of the criteria might be reevaluated based on the presented data. The care pathway starts with carriers of mtDNA mutations. I would also include women who have affected children with de novo mtDNA mutations. This concerns about 25% of the mtDNA patients. The recurrence risk is low and generally prenatal diagnosis is offered for reassurance. Furthermore, women with a very low mtDNA mutation load, with skewing mtDNA mutations or large scale deletions could also opt for prenatal diagnosis. For a reproductive care pathway for mtDNA disease, these groups should be included as well. It is clear that for the remainder according to the HFEA guidelines PNT should only be offered if PGT is unsuitable. It is great that the PNT as an addition to the reproductive choices for mtDNA disease seems to deliver as 8 children without the mtDNA condition were born. However, there are still concerns, as 2 PNT children had a higher mutation load than the carry-over, which means that reversal can occur and could be a risk for having affected children in future treatments. Also, two children had rare medical complications, which according to the authors were not related to the treatment, as this would then be expected for all of them. I do not think that is true as technical variation occurs and donors will be different. It is good to carefully monitor this, as one of the aims of HFEA guided clinical application is to find-out if PNT by itself is safe, not only to prevent mtDNA disease. The discussion on this is not very strong. Finally, a key unanswered question is why it took so long to come out with these results. Eight births with no mtDNA disease in 7 years deviates largely from the expected150 yearly births, as described by the same group in NEJM in 2015, if all women would opt for this procedure. It seems that the children born are quite recent (only one >18 months), so one wonders if there is a learning curve, change in procedure or whatsoever, explaining the increasing success rate. It would be fair to discuss this in more detail as it would make it much clearer and more realistic which women of the target group will benefit from MD. And that is still a positive message.”

    Comments on the broader story:

    Kevin McEleny, Chair, British Fertility Society, said:

    “These landmark papers provide compelling evidence that mitochondrial donation through pronuclear transfer can massively reduce the transmission of pathogenic mitochondrial DNA variants and are a terrific example of how a regulatory framework can be adapted to permit world-leading scientific discovery. Although the number of babies conceived through this novel treatment is small and their long-term follow-up will be required, the study provides hope to people affected by mitochondrial DNA disease and their loved ones.”

    Sarah Norcross, Director of the Progress Educational Trust (PET), said:

    “We could not be more delighted by the news that eight babies with donated mitochondria have been born in the UK, and that all of these children have made normal developmental progress.

    “Our charity spent many years campaigning for UK law to be changed, to permit the use of mitochondrial donation in treatment. We salute the patients who had the courage to attempt these novel treatments, and we thank the team at Newcastle for justifying patients’ confidence in them.

    “Mitochondrial donation will not necessarily be appropriate for every patient who carries disease-causing mitochondrial DNA mutations – rather, its appropriateness depends on various factors that are explored in detail in the new studies. Importantly, the studies place mitochondrial donation within the context of a broader NHS care pathway, that offers a variety of options for people carrying mitochondrial DNA mutations who wish to have children.

    “Nonetheless, the studies demonstrate that mitochondrial donation is a feasible option – indeed, a positive reproductive choice – for some patients. An important consideration is that women considering mitochondrial donation are advised to start their fact-finding early, because of the decline of egg quality with age.

    “The medical and scientific work at Newcastle, and the policy and legal work that preceded it, have set a high standard for introducing new reproductive technology in a careful and scrupulously regulated way. We are pleased to see that Australia is following a similarly responsible path, having recently introduced its own law that permits the use of mitochondrial donation for the purpose of avoiding mitochondrial disease.

    “The work at Newcastle will no doubt inform – and in future, will perhaps also be informed by – the mitoHOPE pilot programme for mitochondrial donation in Australia.”

    Nick Meade, Chief Executive Genetic Alliance, said:

    “Most rare conditions do not yet have a cure or treatment, so for families affected, reproductive choice techniques are the only opportunities to take control of the impact of the condition. For serious conditions caused by nuclear DNA, these opportunities have existed for many years (through preimplantation genetic testing), with today’s news, we know more families have that opportunity now. These techniques have the potential to work for hundreds of conditions caused by mitochondrial DNA, and they are an example of how innovative research can be applied to take steps forward for multiple rare conditions in parallel. With more than 7,000 rare conditions affecting people in the UK, we need this kind of progress.”

    Beth Thompson, Executive Director for Policy & Partnerships at Wellcome, said:  

    “This is a remarkable scientific achievement, which has been years in the making and we are overjoyed for the families of the eight children born so far.  

    “The pioneering work behind mitochondrial donation is a powerful example of how discovery research can change lives. The UK has led the way and has demonstrated the importance of science grounded in close and careful co-ordination between researchers, funders and regulators – and, very importantly, working closely with families affected. 

    “Wellcome has proudly supported this work since the earliest days, including advocating for legislation and licensing. As the science progresses, we will continue championing brave investment in science and for policy and regulation to keep pace. The success of this research should inspire us move forward on other updates, opening the way for further innovation. The groundwork for review of Human Fertilisation and Embryology Act, for example, has been done, it now needs to move forward. We must ensure the UK stays a world leader in life sciences.” 

    Danielle Hamm, Director of the Nuffield Council on Bioethics, said:

    “Today we have seen the first evidence that for a small number of UK families the use of pronuclear transfer (PNT) to prevent the transfer of maternally inherited mitochondrial DNA disorders has resulted in what everyone hoped it would: children who are thriving and appear free of the devastating symptoms of mitochondrial disease.

    “The Nuffield Council on Bioethics’ landmark ethical review of techniques for the prevention of maternally inherited mitochondrial disorders has been instrumental in creating the right regulatory environment to allow this innovative treatment to reach the clinic and change lives for the better.

    “The HFEA’s licensing conditions followed our recommendation and ensured that PNT is only available through a specialist centre. The establishment of the NHS Highly Specialised Mitochondrial Reproductive Care Pathway has ensured that families referred to the service are fully supported and have access to appropriate information, and that long term follow up of participants has been secured.

    “We welcome this great progress, but continued follow-up is crucially important to inform our understanding of the long-term efficacy of the treatment.”

    Peter Thompson, Chief Executive of the HFEA, said:

    “Ten years ago, the UK was the first country in the world to licence mitochondrial donation treatment to avoid passing the condition to children. For the first time, families with severe inherited mitochondrial illness have the possibility of a healthy child. Although it’s still early days, it is wonderful news that mitochondrial donation treatment has led to eight babies being born.

    “Only people who are at a very high risk of passing a serious mitochondrial disease onto their children are eligible for this treatment in the UK, and every application for mitochondrial donation treatment is individually assessed in accordance with the law. These robust but flexible regulatory processes allow the technique to be used safely for the purposes that Parliament agreed in 2015.”

    Prof Frances Flinter, Chair of the HFEA’s Statutory Approvals Committee, said:

    “We are pleased to see the peer-reviewed papers published in the New England Journal of Medicine that explain what has happened to those patients who the HFEA authorised to have mitochondrial donation treatment at the Newcastle Centre at Life. These are patients for whom there was no other option to have a healthy baby who is genetically related to them, and we are delighted for those families.

    “The HFEA will continue to oversee the safe use of mitochondrial donation treatment and assess each application as families come through the programme. These results are testimony to how the UK continues to be a world leader in the use of new medical techniques to change lives.”

    Comment from the editor of the journal the papers are published in (so NOT third party):

    Eric Rubin, MD, PhD, Editor-in-Chief, The New England Journal of Medicine, said:

    “These studies unite scientific rigor, clinical innovation, and deep ethical reflection to illustrate the full research continuum from bench to bedside. At the New England Journal of Medicine, we chose to publish this work in its full context, not only to highlight the outcomes, but also to surface the critical questions it raises about translating breakthroughs into patient care. Where allowed by government regulations, this research has the potential to prevent serious inherited disease and gives parents truly meaningful new options for their children. Its publication also reminds us that preserving the infrastructure and integrity of biomedical research in the U.S. and around the world is essential if we are to continue delivering such transformative treatments to patients.”

    Comments via colleagues at other international SMCs:

    Prof. Dr. Marcus Deschauer, Head of the Working Group on Rare Hereditary Neurological Diseases and Senior Physician at the Clinic and Polyclinic for Neurology, Klinikum rechts der Isar, Technical University of Munich (TUM), said:

    “To my knowledge, this is the first publication of a larger cohort of families/mothers with mitochondrial DNA (mtDNA) disorders who have given birth to children after pre-implantation genetic diagnosis or mitochondrial donation. The work is therefore very important for assessing the effectiveness and risks of these methods in practice.”

    “Per se, the study includes well-studied families with reliable data, but it was not possible to prevent the transmission of the disease-causing mtDNA variants in all families.””A certain carry-over of mtDNA with a disease-causing variant occurs during pre-cell nucleus transfer. It cannot be ruled out that the proportion of mutated mtDNA will continue to increase over the course of a lifetime after carry-over. However, this is unlikely: for example, in patients with the m.3243A>G variant, the degree of heteroplasmy in the blood decreases over the course of life.“

    ”The follow-up periods are not yet sufficient to assess the risks of later disease. Manifestation of an mtDNA disease at a later stage is conceivable in children.””A pathological mtDNA variant is identified in women who can pass it on by means of molecular genetic testing if the woman has symptoms of a mitochondriopathy. There are also cases in which molecular genetic diagnostics are performed for another indication – such as the search for another genetic disease – and a pathological mtDNA is detected. However, according to the ACMG recommendations, this should not be disclosed by genetic laboratories.“

    ”Until now, the lack of data has made it difficult to advise women with mitochondrial diseases on their desire to have children. The DGN guideline ‘Mitochondrial Diseases’ states: ‘Human genetic counselling is particularly complex when it comes to the desire to have children. Prenatal diagnosis can be routinely performed for nuclear mutations, but is more limited for mutations of mitochondrial DNA. The data on preimplantation diagnosis as a means of preventing or reducing the risk of inheritance of pathogenic mitochondrial DNA mutations is extremely limited, and the method is subject to the Preimplantation Diagnosis Ordinance in Germany. These two studies from Newcastle are helpful for counselling.“

    ”Whether a woman with mtDNA disease can expect an uncomplicated pregnancy also depends on the manifestation/severity of the woman’s disease. In cases of significant muscle weakness (including respiratory muscle weakness), this may increase during pregnancy. Natural childbirth may be difficult, making a caesarean section necessary.”

    “If the mitochondrial donation procedure were also permitted in Germany, this would be an option for selected women with an mtDNA disease to significantly reduce the risk of passing on a disease-causing mtDNA variant with a heteroplasmy level above a disease-causing threshold. This would increase the chances of healthy children for families.”

    “However, the data from Newcastle do not suggest that the methods used can guarantee that the disease will not be passed on. In some mtDNA variants, the severity of the disease clearly depends on the degree of heteroplasmy in the blood, so that a reduction in the degree of heteroplasmy in such cases could lead to a milder form of the disease in children.”

    “In the short term, there are no good therapeutic methods for treating mtDNA diseases, so preventing the transmission of mtDNA diseases is the better option. I also consider it difficult to successfully treat children who have inherited an mtDNA variant in the medium term, as gene therapy must reach the DNA in the mitochondria. There is the example of 5q-associated spinal muscular atrophy, in which infants diagnosed in newborn screening can be treated very successfully. Unfortunately, this is not expected to be the case for mtDNA diseases in the near future.””I consider it unlikely that the two children who were symptomatic have a maternally inherited mitochondriopathy. In the case of the child with epilepsy, I would even classify this as very unlikely. I consider the authors’ assessment that the reproductive technology procedure itself or pregnancy complications or metabolic disorders in the mother may be responsible for the symptoms of the two children to be plausible.”

     

    Nuno Costa-Borges, researcher and embryologist, scientific director and CEO of Embryotools, Barcelona Science Park, says:

    “As a pioneering center in mitochondrial replacement therapies (MRT), Embryotools welcomes the recent publication by Hyslop et al. in The New England Journal of Medicine, reporting outcomes from pronuclear transfer (PNT) to prevent the transmission of mitochondrial DNA (mtDNA) disease. The study reports the birth of eight babies—four girls and four boys, including one set of identical twins—born to seven women at high risk of transmitting severe mtDNA disorders. Importantly, all infants are healthy and show no signs of mitochondrial disease. However, the detection of low-level postnatal mtDNA heteroplasmy (“reversal”) in 3 of the 8 infants (5%–16%) deserves particular discussion.

    “Due to UK regulations that prohibit testing for heteroplasmy in embryos, the timing of this reversal could not be pinpointed. Their analysis relied on arrested embryos and blood samples from newborns, which limits interpretation. In contrast, our recent pilot trial using maternal spindle transfer (MST)—a form of MRT where mitochondrial replacement occurs in the oocyte before fertilization—in infertile patients led to seven live births, two of which also showed reversal, a comparable frequency. However, our approach included direct assessment of heteroplasmy in blastocysts and, longitudinally, in multiple tissues including amniotic fluid. This allowed us to accurately define that reversal occurred between the blastocyst stage and mid-gestation (~15 weeks), reinforcing the importance of prenatal testing to detect reversal early and guide clinical decision-making. In our study, all infants are also healthy and have been followed up showing no adverse events.

    “This phenomenon—mtDNA ‘reversal’—has previously been described in human cells in vitro but not in MRT-derived children. Minimal levels of maternal mtDNA carryover can expand substantially, potentially compromising the efficacy of MRTs to prevent mitochondrial disease. The biological mechanisms underlying this selective amplification remain unclear but appear to occur early in development, and instances may therefore be detectable using prenatal testing. It is worth noting that the impact of mtDNA reversal in infertility treatments is likely less concerning, as maternal mtDNA in these cases does not carry pathogenic mutations. Moreover, with appropriate matching of mtDNA haplotypes between the mother and donor, the biological consequences of low-level heteroplasmy could be further minimized or even rendered clinically irrelevant.

    “Currently, only the UK and Australia have regulated the use of MRT to prevent transmission of mtDNA mutations. We believe that other countries should adopt similar regulatory models. In particular, MRT should also be contemplated for infertility treatment. Infertility is a disease recognized by the WHO, and MRT can offer a genetic link to the mother for patients who would otherwise rely on egg donation. This justification aligns with the ethical principles underpinning MRT for disease prevention. As a pioneer group in this technology, Spain should lead in regulating these applications to ensure patient safety and prevent reproductive tourism to countries where such techniques may be offered without appropriate oversight.

    “In light of these findings, we reaffirm the urgent need to continue performing well-regulated, larger, long-term studies to fully evaluate the safety, efficacy, and clinical implications of MRTs. Ongoing research under appropriate oversight is essential to ensure the responsible development of these technologies, improve genetic counseling, and support informed decision-making by patients and clinicians alike.

    “We also advocate for thoughtful regulatory evolution that upholds patient autonomy, scientific excellence, and the principle of reproductive justice.”

    Dr. Dunja M. Baston-Büst, Deputy Head of the IVF Laboratory, UniCareD Cryobank, and UniKiD Research, University Hospital Düsseldorf, Germany, said:

    “Since there are currently no curative therapies for mitochondrial diseases, advances in assisted reproductive technology open up new possibilities for reducing the transmission of such variants. Preimplantation genetic diagnosis, which is commonly used to detect defects in nuclear DNA, can also be used to identify embryos with a low proportion of maternal pathogenic mitochondrial DNA variants, thereby reducing the risk of disease.

    “The replacement of the donor’s zygote pronuclei with the patient’s pronuclei was successful in 127 of 160 cases (79.4 per cent). Of the 127 embryos resulting from this, 122 (96.1 per cent) were still intact on the following day (day 1). The number of intact zygotes per pre-nuclear transfer performed (33 procedures in total) ranged from zero to seven.

    “In 37 of the 39 patients (95 per cent) in the preimplantation diagnosis group, the embryos were assessed on the third day after intracytoplasmic sperm injection (ICSI). For preimplantation diagnosis, a blastomere was biopsied on day three of embryonic development and transfer was usually performed in the fresh cycle after analysis of the mitochondrial DNA from the blastomere.

    “Implementation in Germany is not possible under the current legal requirements (Embryo Protection Act), as egg donation is prohibited.

    “The earlier and more severe a mitochondrial disease occurs, the earlier patients can be identified. Patients in Germany receive comprehensive human genetic or interdisciplinary counselling in accordance with the current S1 guideline ‘Mitochondrial Diseases’. A decision regarding the options for reproductive measures and possible preimplantation diagnosis is made in consultation with the patients and depending on the degree of heteroplasmy. Pre-implantation genetic screening is not possible in Germany due to the ban on egg donation. The alternatives are egg donation abroad or adoption.

    “A patient registry for mitochondrial diseases was established in Germany in 2009. It would be beneficial for reproductive medicine if reproductive outcomes were also collected there, or analysis results if preimplantation diagnosis was performed. Unfortunately, there is no cross-linking between the registries.
    “Furthermore, the search for biomarkers is generally supported in Germany in order to increase the diagnostic accuracy for mitochondrial diseases.

    “For reproductive medicine, I currently see no application of the technology presented in the study in Germany without a comprehensive revision of the Embryo Protection Act and the legalization of egg donation.

    “The new EU SOHO Regulation will come into force in the next few years. Its main purpose is to provide greater protection for the genetic background of children born from egg and sperm donation (in addition to the amendments to the sperm donation register), so that many questions will still arise in the case of three-parent constellations.

    “In mitochondrial donation using pre-nucleation transfer, the nuclear genome is transferred from a fertilized egg cell of the affected woman to an enucleated, fertilized egg cell from a healthy donor. The pronuclei are removed individually from the patients’ zygotes and, after brief treatment with a fusion agent (haemagglutinating virus from the Japanese shell), are placed together under the zona pellucida (protective shell around the egg cell; editor’s note) of the enucleated donor egg cell. Based on findings from preclinical studies, it is standard practice to freeze (vitrify) the eggs of patients for whom pre-nuclear transfer is planned, as donor eggs are not always available at the same time and in sufficient quantities.

    “Pathological variants of mitochondrial DNA can be either homoplasmic (present in all mitochondrial DNA copies) or heteroplasmic (present in only some of the copies). Homoplasmic variants are passed on completely to all offspring, but their expression (penetrance) can vary from individual to individual.

    “Clinical pregnancies were confirmed in eight of 22 patients (36 per cent) who underwent intracytoplasmic sperm injection (ICSI) as part of preimplantation genetic testing, and in 16 of 39 patients (41 per cent) who underwent ICSI as part of preimplantation genetic diagnosis (PGD). Pronuclear transfer resulted in eight live births and one ongoing pregnancy. PGD resulted in 18 live births.

    “Heteroplasmy levels in the blood of the eight infants after pronuclear transfer ranged from undetectable to 16 per cent. Compared to the enucleated zygotes, the proportion of diseased maternal mitochondrial DNA was reduced by 95 to 100 percent in six newborns and by 77 to 88 per cent in two newborns. Heteroplasmy data were also available for ten of the 18 infants after preimplantation genetic diagnosis, with values ranging from undetectable to seven percent.

    “For reasons that are still unclear, the small amount of transferred maternal mitochondrial DNA can rise to homoplasmic levels in about 20 per cent of embryonic stem cell lines derived from embryos after mitochondrial donation. In addition, one in six infants born after maternal spindle transfer for the treatment of infertility had elevated heteroplasmy levels (40 to 60 per cent) of maternal mtDNA. These observations raise the question of whether mitochondrial donation can reliably prevent the transmission of diseased mitochondrial DNA in all cases, especially in homoplasmic variants.

    “Approximately one in 5,000 people develop a mitochondrial disease, making it one of the most common hereditary diseases, although the symptoms can often vary greatly. The symptoms of mitochondrial diseases are very diverse and can affect various organs, for example the muscles with muscle weakness and pain, the nervous system with encephalopathy, epilepsy and neurological disorders, the heart with heart muscle disease, the eyes with blindness and visual impairment, the ears with hearing loss and the endocrine system with diabetes mellitus.

    “Other examples of mitochondriopathies with named syndromes include: autosomal dominant optic atrophy (ADOA) with slowly progressive, usually bilateral, central vision loss; Kearns-Sayre syndrome with cardiac conduction disorders, degenerative changes in the retina, and external ophthalmoplegia; chronic progressive external ophthalmoplegia, which is an incomplete form of Kearns-Sayre syndrome and is characterized by external ophthalmoplegia; MERRF syndrome with cerebellar ataxia, myoclonus, generalized seizures, short stature, and dementia; MELAS syndrome with seizures, dementia, and headaches.

    “In addition to the disease entities listed here, there are a number of other, sometimes very rare syndromes that can be classified as mitochondriopathies but have often been little researched or not yet described.”

    Dr Holger Prokisch, Head of the Mitochondrial Genetics Research Group, Helmholtz Centre Munich – German Research Centre for Health and Environment, Munich, said:“The field of mitochondrial medicine has been eagerly awaiting the results of this study. The robust data describe a real breakthrough for women with a (nearly) homoplasmic pathogenic mitochondrial DNA (mtDNA) variant in terms of their ability to probably have healthy genetically related children. The risk of the children to develop the disease after preimplantation genetic testing is minimal. All gene variants tested require very high heteroplasmy for the disease to manifest, or are typically homoplasmic.“”There is an observation in the literature that in a few cases, the mother’s mutated DNA is revised. Interestingly, this also involves an LHON mutation (Leber’s hereditary optic neuropathy) [3] [4], which is almost always homoplasmic in the population and, according to recent data, has a low penetrance of less than five percent for LHON disease [5] (only five percent of gene carriers also develop the disease; editor’s note). In this respect, the selection of mutation carriers for this study with four LHON mutations is not entirely fortunate. The homoplasmy of the LHON variants suggests that they may offer a selective advantage [6]. Since mitochondrial transfer does not eliminate the mutation, there is a risk that the mutation will be passed on to the next generation. This often leads to significant shifts in heteroplasmy, sometimes to the detriment of patients. However, disease-causing variants tend to have a selection pressure [6].“Human studies show no risk of incompatibility between the donor mtDNA and the parents’ nuclear DNA.””There is no newborn screening for mitochondrial DNA mutations. Women are identified as mutation carriers when they or one of their children develop the disease. Prediction or risk assessment for the next generation is difficult for mtDNA mutations in the mother. Many centers for mitochondrial diseases work with the group in Newcastle to provide information about the options available there or to offer preimplantation genetic diagnosis.”[3] Hudson G et al. (2019): Reversion after replacement of mitochondrial DNA. Nature. DOI: 10.1038/s41586-019-1623-3.
    [4] Kang E et al. (2016): Mitochondrial replacement in human oocytes carrying pathogenic mitochondrial DNA mutations. Nature. DOI: 10.1038/nature20592.
    [5] Mackey DA et al. (2022): Is the disease risk and penetrance in Leber hereditary optic neuropathy actually low?. The American Journal of Human Genetics. DOI: 10.1016/j.ajhg.2022.11.014.
    [6] Kotrys AV et al. (2024): Single-cell analysis reveals context-dependent, cell-level selection of mtDNA. Nature. DOI: 10.1038/s41586-024-07332-0.

    Prof. Dr. Nils-Göran Larsson, Group Leader “Maintenance and expression of mtDNA in disease and ageing”, Department of Medical Biochemistry and Biophysics, Karolinska-Institut, Stockholm, Schweden, said:
    “The study in NEJM is very important and represents a breakthrough in mitochondrial medicine. It should be remembered mitochondrial diseases can be devastating and cause substantial suffering in affected children, sometimes leading to an early death. Families are profoundly affected and the paper in NEJM describe how birth of affected children can be prevented by mitochondrial donation.

    “This advanced procedure is not a disease-treatment but rather an intervention that minimizes the transmission of mutated mtDNA from mother to child. For affected families this is a very important reproductive option. The paper describes a relatively small series of 8 babies born after mitochondrial donation by pronuclear transfer. The paper is carefully done and of very high quality but as always in science the results need to be confirmed by independent studies. Also, long-term clinical follow-up studies of born babies will give additional information about the safety and efficacy of mitochondrial donation.”

    “Before this procedure was applied to human reproduction there was a very long development and evaluation process. There has been a lot of constructive discussion in the scientific community, and the UK Parliament approved legislation allowing mitochondrial donation in 2015.”

    “Mitochondrial donation by the pronuclear transfer procedure always leads to carry-over of some mitochondria from the mother and mutant mtDNA can be transferred. The data presented in the NEJM paper shows that mutant mtDNA was not detected in blood of 5 of the born children. However, in three children, low levels of mutant mtDNA were detected in blood. These low levels of mutant mtDNA are unlikely to cause mitochondrial disease but additional follow-up studies are needed. As pointed out by the authors, the mitochondrial donation by pronuclear transfer should be regarded as a risk-reduction strategy. As always, when it comes to new medical procedures there is a need for validation by independent studies. Also, additional long-term follow-up studies of children born after mitochondrial donation will be needed.”

    “The authors report that the transferred mtDNA has no mutations and the donor mtDNA is therefore unlikely to cause disease or impact ageing. During normal ageing, mtDNA acquires mutations (somatic mutations), e.g., during the massive cell division when the embryo is formed and develops. These mutations are typically present at low levels but accumulate to high levels in a subset of cells in many different ageing tissues. The mitochondrial donation involves transfer of mtDNA without mutations and there is no reason to believe that the donor mtDNA will additionally impact the ageing process.”

    “When it comes disease-causing mtDNA mutations that are present in all copies (i.e., homoplasmic mtDNA mutations) there is currently no alternative to mitochondrial donation to prevent transmission of mutated mtDNA from mother to child. It is possible that alternate methods will be available in the future, e.g., correction of mutant mtDNA by gene editing techniques. There are currently a few promising pharmacological therapies for mitochondrial disease, e.g., nucleoside therapy for mtDNA depletion disorders. It is likely that more treatments will be available in the near future because this field is rapidly developing.”

    Prof. Dr. Heidi Mertes, Associate Professor in Medical Ethics, Department of Philosophy and Moral Sciences, Ghent University, Belgien, said:

    “I am happy to see that the first results from the Newcastle University group are now finally published, after being granted a license by the HFEA in 2017, and that the eight resulting children are in good health. However, while the results show that the technique is feasible and can lead to a substantial reduction of the mutation load in the resulting children, it also shows that we need to tread very carefully.”

    “In line with previous research by the group of Nuno Costa-Borges [1], this research confirms the possibility of reversal (meaning that although there is only a small fraction of the intended mother’s mitochondrial DNA (mtDNA) in the embryo, this fraction sometimes increases substantially as the foetus develops), which could still result in mitochondrial diseases in the resulting children. Fortunately, preliminary research does indicate that while the mutation loads appear to increase between the embryonic phase and birth, they appear to remain stable after birth.”

    “These are very important results as there was a lot of uncertainty over the safety of MRT. Using PGT when possible and reserving MRT for those cases in which PGT cannot offer a solution was a prudent approach given the experimental nature of MRT. It will be interesting to see more data in the future on whether reversal is more frequent in MRT or PGT, so that the safest procedure can be selected.”

    “Although the heteroplasmy-levels are limited in this study, it does show that reversal is a real danger for the offspring, which can have serious health implications. At least three things follow from this.”

    “First, people entering into this and future clinical trials will need to be extensively counselled that this is not a risk-elimination treatment, but a risk-reduction treatment.”
    “Second, we need more research into the mechanisms that trigger reversal, so that it can be prevented before this technique is implemented in routine care + We need follow-up research in the children born after MRT.”

    “Third, it is important to keep in mind that by framing this as a risk-reduction strategy, we are ignoring the possibility of conceiving through a traditional egg donation procedure. While genetic parenthood is evidently important to many people, the trade-off that we are making here is that between a genetically related child with a high risk of mitochondrial disease (natural conception), a genetically related child with a reduced risk of mitochondrial disease (PGT or MRT) and a non-genetically related child with the near-absence of a risk of mitochondrial disease (through donor conception). If people who would have chosen for donor conception now opt for MRT, this is actually a risk-increasing technology, rather than a risk-reducing one.”

    “This strategy lowers the risk of mitochondrial disorders in the children when the point of comparison is natural reproduction by the parents, but the safest option is still donor conception, which eliminates the risk of passing on the mitochondrial condition, rather than reducing it.”

    “While the donor plays an essential role in the birth of the child, attributing them a parenthood-status based on a small genetic contribution appears unwarranted. At the same time it would be correct to call them a ‘genetic progenitor’ or ‘genetic contributor’.”

    “While the group of Nuno Costa-Borges ([1] [2]) received a lot of backlash for performing their MRT clinical trial in people with repeated IVF failure, rather than people with mitochondrial diseases, we must acknowledge in hindsight that given the phenomenon of reversal, their approach might have been the more prudent one. In their study they observed reversal in one infant going from

    [1] Costa-Borges N et al. (2023): First pilot study of maternal spindle transfer for the treatment of repeated in vitro fertilization failures in couples with idiopathic infertility. Fertility and Sterility. DOI: 10.1016/j.fertnstert.2023.02.008.
    [2] Savash M et al. (2025): Mitochondrial DNA ‘reversal’ is common in children born following meiotic spindle transfer, potentially reducing the efficacy of mitochondrial replacement therapies. Konferenzabstract.

    Prof David Thorburn, co-Group Leader of Brain & Mitochondrial Research at Murdoch Children’s Research Institute and the University of Melbourne, said:

    “Mitochondrial donation was legalised in the UK in 2015 and in Australia in 2022. It was clearly a complex process in the UK to develop the approvals processes, the clinical and lab pathways, cope with delays from COVID and accumulate sufficient outcomes to publish them without impinging on the privacy of the families involved.So it is very exciting to see the first publications describing results for the first 8 babies born in the UK program. The initial results demonstrate that the approach is effective in reducing the risk of having a child with mitochondrial DNA disease for women who are at high risk. For about three quarters of couples participating in the pronuclear transfer method, at least one suitable embryo was generated. About 40% of these couples had a baby and all were healthy and had undetectable or low levels of the abnormal mitochondrial DNA. Three babies had short-term symptoms that resolved and did not appear to relate to mitochondrial disease. All babies are developing normally to date, with the oldest 5 years of age.The studies emphasise that longer-term followup needs to be performed, and the efficiency of the method could be further improved to achieve higher pregnancy rates. They demonstrate the value of offering the program in conjunction with other reproductive options, such as pre-implantation genetic testing, which can be effective in women with lower risk. I regard these results as very encouraging and supporting the ongoing development and use of mitochondrial donation in the UK and Australia.

    Dr Santiago Restrepo Castillo, biomedical engineer and postdoctoral researcher at the University of Texas at Austin (USA), said:

    “Mitochondrial diseases are a group of chronic metabolic disorders that can be fatal. These diseases are caused by mutations in the human genome, which consists of nuclear DNA and mitochondrial DNA. In particular, metabolic disorders caused by mutations in mitochondrial DNA, which affect one in five thousand people, are maternally inherited and currently incurable. In recent years, there have been major advancements in the development of strategies for the treatment or prevention of genetic disorders caused by mutations in nuclear DNA. In contrast, similar strategies for diseases caused by alterations in mitochondrial DNA have remained largely understudied. Aiming to establish a preventive strategy for metabolic diseases caused by mitochondrial DNA mutations, the authors of this pair of studies published in the New England Journal of Medicine developed an integrated program of preimplantation genetic testing and pronuclear transfer (PGT and PNT, respectively). In this program, female patients carrying mitochondrial mutations underwent PGT to identify embryos with low levels of mitochondrial DNA mutations. In cases where an embryo with these characteristics was identified, the embryo was implanted in the patient and the course of the pregnancy was monitored. In addition, in cases where it was not possible to identify embryos with low levels of genetic alterations, the patients underwent PNT, a procedure in which mitochondrial DNA without mutations is obtained from a donor. Encouragingly, through this integrated PGT and PNT program, at the time of publication, the authors have already demonstrated a significant reduction in the maternal transmission of mitochondrial mutations in eight cases. Furthermore, the children born from these cases have shown normal development. In conclusion, this study represents a major advancement in the field of medical genetics and genomics. Understanding the current limitations of mitochondrial gene editing, which would allow genetic alterations to be corrected in different contexts, the authors chose to explore a procedure that cuts the problem off at the root by preventing the transmission of the mutated genetic material. Furthermore, this pair of studies demonstrates clinical benefits in children who, without the integrated PGT and PNT program, would likely have been born with debilitating or fatal genetic mutations. It will be exciting to see if the benefits are maintained over time, and it will be critical to further develop this integrated process to increase its success rates”.

    Prof Lluís Montoliu, Research Professor at the National Biotechnology Centre (CNB-CSIC) and at the CIBERER-ISCIII, Spain, says:

    “In 2016, John Zhang, a specialist doctor at an assisted reproduction clinic in New York called the New Hope Fertility Center, crossed the border into Mexico to perform a procedure that was banned in the US and not yet regulated in Mexico. A couple from Jordan had come to this clinic hoping to have viable offspring. The couple had already had two children who had died from Leigh syndrome, one of several mitochondrial diseases that are often devastating and untreatable. Mitochondria (our energy factories) are usually inherited from the mother, from the egg. The mother had approximately 25% of her mitochondria affected, and these were the ones she had passed on to her two deceased children. Dr. Zhang did not use the procedure pioneered in the UK because of the couple’s Muslim faith, which opposed the destruction of human embryos. Instead, he chose to extract the nucleus from the mother’s egg (actually the metaphase plate, an incomplete nuclear division, which is the stage at which all eggs are ready for fertilization) and transferred it to the egg of another woman (with healthy mitochondria), from which he had also previously removed the nucleus. Once the nucleus from the mother had been transferred to the egg of the second woman, he used this resulting egg to perform in vitro fertilization with sperm from the father to obtain embryos. Dr. Zhang created five embryos in this way, only one of which developed normally, was implanted in the mother’s uterus, and resulted in the birth of a healthy baby. It was the first newborn obtained using the “three-parent technique”: two mothers and one father.

    “In the United Kingdom, the Human Fertilisation and Embryology Authority (HFEA) had approved another procedure in 2015, technically different but also called the “three-parent technique,” to solve problems related to mitochondrial diseases. In this case, the father’s sperm is used to fertilize (through intracytoplasmic sperm injection, ICSI) two eggs, one from the mother carrying the affected mitochondria and one from another woman with healthy mitochondria. After fertilization begins, the two pronuclei (paternal and maternal) that appear temporarily are destined to fuse and form the first nucleus of the zygote. Before this happens, researchers can extract the two pronuclei from the in vitro fertilization between the mother’s egg and the father’s sperm and transfer them to the egg of the woman fertilized by the same sperm from the father, from which the pronuclei will have been previously removed. The result is that the egg with the woman’s healthy mitochondria hosts the two pronuclei of the couple, whose baby will be born without the mitochondrial genetic disease and will be genetically from both the father and the mother. The healthy mitochondria will come from the female donor. In this procedure, which is methodologically somewhat more aggressive than the previous one but less risky, one embryo is destroyed to create another, something that the Muslim couple assisted by Dr. Zhang considered unacceptable. The first baby in the United Kingdom obtained through the authorized British three-parent procedure was born in 2023.

    “Ten years later [after the approval of this technique in the UK], a team of British and Australian doctors and researchers published the results of applying the British “three-parent” technique to 22 women carrying pathogenic mutations in their mitochondria (and therefore at high risk of having children born with these incurable diseases) in the prestigious New England Journal of Medicine (NEJM). Of the 22 women treated, only 8 gave birth (36%), and one more pregnancy is still in progress. The eight babies born are healthy, with no signs or very low levels of affected mitochondria, which are not sufficient to cause the disease. So far, all eight children are doing well. Only a couple of them developed minor clinical problems, initially unrelated to the procedure, which were resolved with treatment or spontaneously. In addition, the researchers applied a second technique (preimplantation genetic testing, or PGT) to women with heteroplasmy (a mixture of healthy and affected mitochondria) to assess the percentage of affected mitochondria in babies obtained through in vitro fertilization and select those with lower values of affected mitochondria. In this case, they obtained 16 pregnancies from 39 women (41%) with the result of 18 babies born with a percentage of affected mitochondria of less than 7%.

    “In Spain, our Law 14/2006 of May 26 on assisted human reproduction techniques does not explicitly refer to this technique (which did not exist when this legislation was passed), so sensu stricto the procedure is neither expressly prohibited nor explicitly authorized in our country. Essentially, it is not regulated. The legal and ethical doubts that remain have so far prevented the three-parent technique from being applied in Spain.However, this new study shows that the technique has a remarkable success rate (36%) that could well be offered to couples in which the mother is a carrier of affected mitochondria to have offspring free from terrible mitochondrial diseases. Personally, I believe that we should allow this technique in our country in assisted reproduction clinics that have adequate training in this sophisticated method of embryo intervention.”

    Dr Paul Wuh-Liang Hwu, Professor, College of Medicine, Pediatrics, National Taiwan University, Taipei, Taiwan / Distinguished Research Fellow, China Medical University Hospital, Taichung, Taiwan, said:

    In this week’s New England Journal of Medicine, two research articles published by groups of researchers from the UK describe the success of mitochondrial donation treatments for mitochondrial DNA (mtDNA) diseases. Each human cell contains a few hundred mitochondria. The mitochondrion is a double membrane-bound organelle, and each mitochondrion contains a few copies of double-stranded, circular DNA molecules of around 16,500 genetic units (base pairs).

    “Mitochondria are responsible for energy (ATP) production, fatty acid oxidation, and some other functions for the cells. Pathological variations or deletions of mitochondrial DNA can impair mitochondrial function, and when the proportion of defective mitochondria (heteroplasmy level) is high, cause serious symptoms involving the brain, muscle, and metabolism. During reproduction, all mitochondria are inherited from the mother (the egg). However, the level of defected mitochondria in offspring can be very different from their mothers, leaving reproduction planning almost impossible.

    “In the two studies, mitochondrial donation by pronuclear transfer (PNT) was conducted to reduce the reproductive risk of women with mitochondrial diseases. Both the mitochondrial donor and patient eggs were fertilized first.
    The nucleus of the donor’s fertilised egg was removed and discarded, leaving behind a fertilised egg without a nucleus but with healthy mitochondria. The nucleus from the patient’s fertilised egg was then transferred into this enucleated donor egg.

    “The PNT zygote was then cultured and implanted to continue pregnancy. All live births were in good health and with low levels of defective mitochondria. PNT has been widely used in animal research and now proved to be safe and efficient in humans. This breakthrough gives a reproductive choice for women affected with mitochondrial diseases, which is very important for the patients and their families. However, this study also broke the ban for continuing pregnancy of genetically manipulated human embryos. One argument is that PNT does not really touch the genetic materials but only provides normal mitochondria. The excellent outcome of this study also eases the concerns of nuclear/mitochondrial genome compatibility and other safety issues. Nevertheless, one may still worry if this technology will be abused to improve human physiological quality, for example, creating a body with more efficient energy production. Then, how about adding a little bit of normal, or good, DNA to the nuclear genome, if we can do that safely?

    “As doctors and researchers who take care of patients with genetic disease, we welcome inventions, including reproduction medicine, that can help patients. Certainly, before the safety of new treatments can be confirmed, they should be used in patients with no other choices, or with a favorable benefit over risk. Recently, gene therapies, including gene editing treatments, are rapidly developing, offering hope to patients who previously have no option for treatment. However, we need to ask people to restrain themselves, not to apply PNT or gene therapy to improve the health of people without a medical condition, but to let these new treatments be developed to rescue lives of patients.”

    Prof Lee Chung-His Professor, Graduate Institute of Health and Biotechnology Law, Taipei Medical University, Taipei, Taiwan, said:

    Pronuclear Transfer Technology: Advancing with Cautious Innovation and International Consensus. While early clinical results show promise in reducing the level of pathogenic mitochondrial  DNA in newborns, the application of Pronuclear transfer (PNT) raises significant ethical and regulatory questions that must be addressed through both national oversight and international dialogue. From a bioethical standpoint, germline modification—defined as altering genetic material in a way that affects future generations—has long been met with caution. This is because it involves irreversible changes to the human genome, with potential consequences not only for the individuals born from such interventions but also for society’s understanding of what it means to be human.

    “Pronuclear transfer, however, occupies a unique space in this debate. It targets mitochondrial DNA, which, although essential for cellular energy production, contributes relatively little to traits traditionally associated with identity, such as physical appearance, personality, or intelligence. Because of this limited influence on key phenotypic characteristics, PNT is viewed by some as an acceptable “ethical testing ground” for germline-level intervention. Rather than resorting to high-risk gene therapy after the onset of a hereditary disease, using PNT technology to reduce the likelihood of disease is a more ethically acceptable option. It provides a possible pathway to explore the responsible use of reproductive technologies without crossing the bright-line boundaries typically drawn around nuclear DNA modification.

    “Nonetheless, mitochondrial DNA modification is not without ethical complexity. Even if its direct functional role is narrower, it still involves heritable changes and the creation of embryos with genetic contributions from three individuals—the intended mother and father, and a mitochondrial donor. This raises questions about identity, kinship, and the rights of the resulting child, especially regarding disclosure and autonomy. Moreover, the long-term health effects of such interventions remain unknown. To prevent a gradual erosion of ethical boundaries, transparent ethical review processes and long-term clinical monitoring must be established as foundational requirements for any country considering the use of PNT.

    “From a clinical perspective, preimplantation genetic testing (PGT) should remain the first-line option for reducing the risk of mitochondrial disease transmission. PGT is a more established and less invasive method that allows for the selection of embryos with minimal or undetectable levels of pathogenic mitochondrial DNA. In many cases, this approach has proven effective and carries fewer biological and ethical uncertainties than PNT. In contrast, PNT is a more complex and experimental procedure that combines nuclear DNA from the parents with mitochondrial DNA from a donor egg, and it may result in lower fertilization rates or higher embryonic loss. Therefore, in keeping with the precautionary principle in bioethics, PNT should be considered only when PGT is not feasible or has been shown to be ineffective.

    “The United Kingdom currently leads in the clinical implementation of PNT, having established a strict licensing and regulatory regime through the Human Fertilisation and Embryology Authority (HFEA). The UK’s model reflects a commitment to enabling scientific advancement while maintaining ethical vigilance. However, reproductive technologies such as PNT are inherently transnational. If only a few countries offer access to such procedures, it may prompt “reproductive tourism”, whereby patients travel abroad to seek unregulated or less strictly governed treatments, potentially undermining safety standards and ethical norms.

    “For this reason, a coordinated international approach is urgently needed. The World Health Organization (WHO) and the World Medical Association (WMA) are well-positioned to initiate global discussions and help formulate shared ethical guidelines and governance frameworks. These discussions should encompass not only scientific and medical dimensions but also social, cultural, and legal implications. Establishing minimum ethical standards and oversight mechanisms will help ensure that the benefits of PNT are pursued responsibly and that global health equity and ethical integrity are preserved.”

    Mitochondrial Donation and Preimplantation Genetic Testing for mtDNA Disease’ by Louise A. Hyslop et al. and ‘Mitochondrial Donation in a Reproductive Care Pathway for mtDNA Disease’ by Robert McFarland et al. was published in The New England Journal of Medicine at 22:00 UK time on Wednesday 16th July. 

    DOI: 10.1056/NEJMoa2415539

    DOI: 10.1056/NEJMoa2503658

    Declared interests

    Dr David J Clancy: No interests to declare

    Prof Joanna Poulton: Nothing to declare

    Prof Dusko Ilic: No conflicts of interest

    Prof Dagan Wells: I don’t think I have any declarations relevant to this.

    Dr Andy Greenfield: Andy was a member of the board of the Human Fertilisation & Embryology Authority (HFEA) from 2009 to 2018; he was a member of its Scientific & Clinical Advances Advisory Committee (SCAAC) and Chair of its Licence Committee. He chaired the 3rd and 4th preclinical scientific reviews of the safety and efficacy of mitochondrial donation, in 2014 and 2016. Andy chairs the Independent Advisory Committee of the MitoHOPE Program in Australia. He is also a member of the board of the Human Tissue Authority (HTA), the Regulatory Horizons Council (RHC), the Advisory Committee on Novel Foods and Processes (ACNFP) and Singapore’s Ministry of Health Regulatory Advisory Panel. Andy’s programme of research in developmental genetics was funded by the Medical Research Council at its Harwell Unit from 1996 to 2021. All opinions expressed are his own and not necessarily shared by any organisations with which he is associated.

    Mr Stuart Lavery: No DOIs

    Prof Bert Smeets: I am scientific advisor for the HFEA on PNT applications.

    Sarah Norcross: PET – https://www.progress.org.uk/ – is a charity that improves choices for people affected by infertility and genetic conditions, and that campaigned for the introduction of the Human Fertilisation and Embryology (Mitochondrial Donation) Regulations 2015 into UK law.

    Beth Thompson: Wellcome funded research into mitochondrial donation and co-funded the clinical trial to assess the safety and effectiveness of the treatment.

    Danielle Hamm: The Nuffield Council on Bioethics conducted an ethical review of new techniques that aim to prevent the transmission of maternally-inherited mitochondrial DNA disorders in 2012. The report and key findings of the review are available here.

    HFEA: As of 1 July 2025, 35 patients have been given approval for mitochondrial donation treatment by the HFEA Statutory Approvals Committee. These decisions are made on an individual case by case basis where there are no other options for the families involved and in strict accordance with the law. The published papers set out that 25 of those patients have undergone pronuclear transfer (mitochondrial donation treatment.)

    Prof. Dr. Marcus Deschauer: “Apart from the fact that I spent six months as a researcher in the Mitochondrial Research Group over 20 years ago and subsequently collaborated with the group on scientific projects, and that I am of course well acquainted with some of the co-authors of the two papers, I have no conflicts of interest.”

    Dr. Dunja M. Baston-Büst: “I have no conflict of interest.”

    Dr Holger Prokisch: “I have no conflicts of interest.”

    Prof. Dr. Nils-Göran Larsson: “I have no conflicts of interest with this work.”

    Prof. Dr. Heidi Mertes: “I have no conflicts of interest.”

    Prof David Thorburn: David has declared he has no financial conflicts of interest and has the following unpaid positions:

    Board Member of the Mito Foundation (the major relevant mito advocacy group) and he played a prominent role in their advocacy for legalising mitochondrial donation in Australia.

    He is also a Member of the MitoHOPE Executive, funded by the Medical Research Future Fund to deliver an Australian clinical trial of mitochondrial donation.

    Dr Santiago Restrepo Castillo: No conflicts of interest

    Prof Lluís Montoliu: He declares that he has no conflicts of interest

    For all other experts, no reply to our request for DOIs was received.

    MIL OSI United Kingdom

  • MIL-OSI New Zealand: Pacific Trade Ministers to meet in Fiji

    Source: New Zealand Government

    Minister of State for Trade and Investment Nicola Grigg will travel to Fiji this week to attend the Pacific Island Forum’s Trade Ministers Meeting (FTMM). 

    “Trade plays a critical role in getting more money into your back pocket, helping you and your family to thrive. It drives employment, economic growth, and lifts the standard of living in New Zealand and across the Pacific,” Ms Grigg says. 

    The Pacific Island Forum’s (PIF) biennial Trade Ministers Meeting will be held in Suva on 18 July. It is a key regional event, bringing together Pacific trade ministers to discuss and shape the future of trade and economic integration. 

    “The Government is strongly committed to supporting Pacific Island countries to grow the positive impacts of trade. New Zealand’s attendance at the FTMM signals our continued commitment to regional cooperation, resilience, and leadership in advancing Pacific trade priorities under the 2050 Strategy for the Pacific Blue Continent,” Ms Grigg says. 

    “This key regional meeting provides a timely platform to discuss the critical importance of the rules-based trading system, with the World Trade Organisation at its core. This structure is particularly vital for small countries like New Zealand and PIF members. We are best served by a world in which trade flows freely governed by rules. 

    “I will attend a Fiji New Zealand Business Council event where the Council will launch its strategy to help reach the joint New Zealand and Fiji goal of lifting two-way trade to NZ$2 billion by 2030.

    “I also look forward to engaging with my PACER Plus Ministerial counterparts. PACER Plus is the largest and most comprehensive trade agreement in our region. It is helping both large and small businesses — including women-led businesses — to grow; reduce costs through e-commerce and enhance regulatory cooperation between governments, streamline customs processes, paperless trade, and provisions on investment that protect investors; and to promote cross-border investment flows. 

    “While PACER Plus is a trade agreement, with currently 10 parties, that also speaks to the bonds between our nations, as neighbours, partners, and family, whose interests, prosperity, and well-being are intertwined.” 

    MIL OSI New Zealand News