NewzIntel.com

Category: Asia Pacific

  • MIL-OSI New Zealand: The Oppression the Left Forgot

    Source: ACT Party

    The Haps

    Your property is safe as Parliament is shut and David Seymour is the Acting Prime Minister. Yesterday, ACT made the big announcement that for the first time ever, we’re seeking candidates to stand in local council elections. We want common-sense Kiwis to champion lower rates, less waste, equal rights, and an end to the war on cars. If that sounds like you, learn more at actlocal.nz.

    Meanwhile ACT MPs have been out in force at A&P Shows and Field Days, they report tremendous support from rural New Zealand and we are grateful to hear it.

    The Oppression the Left Forgot

    Besides a pandemic, the last decade has consisted of economic paralysis and cultural division as Governments dumped years of live-and-let-live liberalism to focus on identity politics. Jacinda Ardern and Justin Trudeau were the pin ups for this dismal movement, managing to tank their respective countries’ economies and make everyone angry at each other.

    Free Press regrets to inform you that the DEI brigade missed a large oppressed group. This group has disastrous education statistics, lives years less than the national average, in part because of their high suicide rates, and is far more likely to be arrested, charged, sentenced, and imprisoned. Some speculate this is due to years of violence, including being held in state institutions, and in armed conflict.

    In recent years, prominent members of this group have been forced by their managers into public humiliation, pronouncing that they’re sorry for being part of this group. The group is regularly ridiculed in media and advertising, and not expected to complain.

    The group is, of course, men. If any other group had the social statistics men do, there would be a special ministry, a ‘day,’ targeted support programs, and probably quotas to help them on their way.

    That there is none of that, and that some people will be angry to read any of this, is just one of those modern mysteries. Why are men such a blind spot for all the luvvies, despite dismal social statistics that would normally justify an entire Government department?

    Some will point out that women do face serious problems. Domestic and sexual violence are overwhelmingly problems for women. Even today there is a connection between domestic work and earned income. Claudia Goldin won the Nobel prize for explaining the remaining gender pay gap this way.

    Other people having problems, or even causing other peoples’ problems, has never stopped the luvvies before. There must be some better reason why men’s abysmal suffering is not the subject of some major leftie sympathy.

    Our best theory is that men doing badly blows up the whole DEI identity politics movement of the past decade. The movement’s basic story is that if anything is wrong in the world it’s because bad people have been oppressing them, perhaps for hundreds of years.

    Why are Māori doing badly in the stats? Colonisation. Women? The patriarchy. LGBTQI+. So many reasons. There is even a fattist movement claiming ‘society’ has designed its aeroplane seats, magazines, and institutions to silence fat voices (we are not making this up).

    But who oppressed men? Men can’t be oppressed. They are needed to play the villain of the piece. In a play where everyone is a victim or a villain for historic reasons, not everyone can be good, and certainly not those needed to be bad.

    A worse conclusion would be that women are oppressing boys. Practically all early childhood teachers, six-out-of-seven primary teachers, and two-out-of-three high school teachers are women.

    If it was the other way around the picture would seem sinister. Perhaps teacher gender is why last year 42 per cent of girls came out of high school with University Entrance compared with 32 per cent of boys. Oddly this explanation of oppression by a dominant group has not been emerged.

    Nor should it. The whole idea that we are not thinking and valuing individuals but instead members of a group is bunk. It’s led to more division and anger than it’s worth (which is not much to start with). It’s disempowered people by making them think they are products of history, instead of masters of their own destiny.

    A better way is to let people problem solve by innovating. Charter schools are a pin-up example of this. Vanguard Military School (run by ex-servicemen), and Te Aratika Academy (run by a civil construction firm) offered different education that some might see as filling the male role-model gap in education.

    The same could be said for most problems we’re currently blaming on colonisation, the patriarchy, or whatever cause du jour is on people’s minds. More innovation in social services, more economic opportunity for people who want to take it, a more dynamic and innovative society generally is what’s needed.

    For all those who still think the world is made up of victims and villains, with the past made up of endless oppression, what are you doing for men?

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Export growth narrows current account deficit to $5.9 billion – Stats NZ media and information release: Balance of payments and international investment position: December 2024 quarter

    Source: Statistics New Zealand

    Export growth narrows current account deficit to $5.9 billion – 19 March 2025 – The seasonally adjusted current account deficit narrowed to $5.9 billion in the December 2024 quarter, according to figures released by Stats NZ today.

    The current account deficit was $475 million narrower than the previous quarter due to an increase in the value of services exports (up $688 million) and goods exports (up $669 million).

    “Spending by overseas visitors while in New Zealand led the increase in services exports, while dairy and meat led the increase in goods exports,” international accounts spokesperson Viki Ward said.

    Files:

    MIL OSI New Zealand News –

  • MIL-OSI United Nations: Resumed Hostilities, Blocked Aid Destroying Ceasefire Gains in Gaza, Security Council Hears

    Source: United Nations General Assembly and Security Council

    As Israel resumes airstrikes over Gaza and blocks entry of humanitarian aid into the Strip, the modest gains made during the ceasefire are being destroyed, Tom Fletcher, Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, told the Security Council today.

    “Overnight, our worst fears materialized,” he added, noting unconfirmed reports of hundreds of people killed on 17 March.  Recalling his recent visit to the Occupied Palestinian Territory and Israel in February, he said that — despite the devastation he saw — “my trip coincided with some of Gaza’s better days” because a ceasefire was in place and humanitarians were delivering hundreds of trucks every day.  “Not anymore,” he reported.

    Since 2 March, Israeli authorities have halted the entry of all lifesaving supplies, including food, medicine, fuel and cooking gas, for 2.1 million people.  Repeated requests to collect aid sitting at the Karem Shalom border crossing have also been systematically rejected, no further hostages have been released and Israel has cut power to southern Gaza’s desalination plant, limiting access to clean water for 600,000 people.

    Further, international staff of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) are no longer able to rotate into and out of Gaza due to recent Knesset legislation.  He also highlighted new registration rules for international non-governmental organizations, as well as a law under consideration to impose high taxes on donations from third States to Israeli humanitarian and human-rights groups.

    Also pointing to the urgent crisis in the West Bank, he said that 95 Palestinians have been killed, including 17 children, since the start of 2025.  Additionally, Israeli military operations in the northern West Bank have displaced 40,000 Palestinians, while hundreds of Israeli settlers have launched large-scale attacks on Palestinian villages.  Outlining three urgent asks, he called on the Council to enable the entry of humanitarian aid and commercial essentials into Gaza, renew the ceasefire and fund the humanitarian response.

    Palestine Says Death Returns to Gaza, Israel Says Hamas Responsible

    The Permanent Observer for the State of Palestine, noting that this meeting was initially called to discuss Gaza’s humanitarian situation, added:  “Now we gather here after a series of deadly Israeli attacks that killed, last night alone, hundreds of Palestinians.”  Bombardment, death, devastation, fire and fear are yet again spreading throughout Gaza, he said.

    “Ceasefire works — it is the only thing that does,” he stressed, stating that it stopped the bloodshed, allowed the release of hostages and prisoners and enabled the delivery of humanitarian aid.  Unilateral, self-serving and irresponsible decisions cannot be used as excuses for breaking it.  “While the Trump Administration has prioritized the release of hostages, it is evident that [Prime Minister of Israel Benjamin] Netanyahu’s concern for his political survival far outweighs his concern for the survival of the hostages,” he added.

    The Arab Summit endorsed a clear vision and a solid plan for a different trajectory for Gaza and Palestine — “these efforts should be supported, not compromised and sabotaged”, he urged.  The international community must also support the Palestinian Government’s assumption of its responsibilities throughout the Occupied Palestinian Territory, the deployment of a UN-mandated mission throughout the Territory, a permanent ceasefire and the two-State solution.  “This is a historical moment, where everyone must choose where they stand and what vision they want to see prevail,” he said.

    However, Israel’s representative stressed that “the return to fighting is a necessity”, reaffirming his country’s commitment to bring home its hostages and defeat Hamas.  Hamas has refused to release hostages and has repeatedly rejected all offers by the United States and mediating countries — even during Ramadan — he said, spotlighting the Israel Defense Forces’ precise attacks on Hamas targets.

    For months, Israel took unprecedented steps to facilitate humanitarian aid into Gaza, he asserted, adding that these efforts are “not speculation, not political rhetoric”; they are “documented, verifiable and confirmed by the organizations distributing and supplying the aid”.  The hostages still held in brutal captivity by Hamas should be paramount for those truly concerned about humanitarian crises, he said, adding:  “Any discussion of humanitarian suffering that does not begin with the hostage release is not an honest discussion.”

    “The slander that the people of Gaza are currently starving is quite simply untrue,” he continued, stating that “claims that electricity cut-off has plunged Gaza into humanitarian collapse are greatly exaggerated”. Rather, any suffering in Gaza is due to Hamas’ hijacking of aid for its violent ends.  Pointing to certain Council members’ efforts to malign Israel, he stressed:  “If this Council wishes to address suffering, then it must demand the immediate and unconditional release of the hostages.”

    Some Council Members Also Point to Hamas

    Along similar lines, the representative of United States emphasized that the blame for resumed hostilities lies solely with Hamas, which has steadfastly refused “every proposal and deadline they’ve been presented”.  Hamas prefers to hold hostages captive and hide amongst the people of Gaza, she said, dismissing the allegation of indiscriminate attacks by the Israel Defense Forces.  Underlining the need to tackle Iran’s “malign influence and State sponsorship of terror”, she said that Middle Eastern countries have an “historic opportunity to reshape their region”.

    Echoing that, Panama’s delegate said that the suffering in Gaza is the direct consequence of Hamas’ extremist actions, “which unleashed this tragic spiral of violence”.  He, too, condemned Hamas’ current refusal to meet the commitments agreed upon and release additional hostages.

    France’s representative highlighted the international conference to be held in June, chaired by his country and Saudi Arabia, on the implementation of the two-State solution.  The reconstruction plan for Gaza put forward by the Arab League must exclude Hamas from Gaza’s governance, he said.  “The terrorist attacks committed by Hamas and other terrorist groups on 7 October 2023 constitute the worst anti-Semitic massacre since the Shoah”, and he therefore reaffirmed France’s solidarity with the Israeli people.

    Others Point to Israel’s Responsibility as Occupying Power

    Algerians understand the cruelty of occupation “because we endured it for over 130 years”, that country’s delegate recalled.  “This deliberate blockade, timed to coincide with the holy month of Ramadan, is a calculated effort to break the resilience of the Palestinian people,” he stressed.  Further, he observed that “the Israeli occupying Power is using water — yes, water — as a weapon of war.”  Once again, Palestinian blood has become a tool for the calculations of Israeli politicians, and he called on mediator countries to ensure compliance with the ceasefire.

    Blocking trucks, cutting off electricity, mistreating non-governmental organizations, preventing Muslims from accessing the Aqsa Mosque compound — “these are all tactics of the oppressor”, stated Pakistan’s representative.  The manner in which the Council and the international community respond to such atrocities will have a lasting impact on the nature of the world order.  He also pointed out that international humanitarian law prohibits targeting military targets in civilian facilities. 

    The Republic of Korea’s representative said that Hamas’ refusal to carry out its obligations does not justify blocking humanitarian aid or using it as a bargaining chip.  He cited Under-Secretary-General Fletcher’s remarks during a 12 March press briefing:  “I said to my colleague:  Why are the dogs so fat?  And he said:  Because the dogs are looking for corpses.”  Israel must immediately cease its offensive, he stressed, urging all parties to return to the negotiating table.

    The representative of Denmark, Council President for March, spoke in her national capacity to spotlight Israel’s obligation, as the occupying Power, to ensure that the civilian population does not lack food or other basic needs, including water.  Sierra Leone’s delegate also noted that Israel, as the occupying Power, has obligations under the Fourth Geneva Convention and international humanitarian law.

    They, along with the representatives of the United Kingdom and China, were among the many speakers who underscored the need for an immediate ceasefire.  Somalia’s speaker, expressing concern that Israeli strikes in Gaza were taking place during the Muslim holy month of Ramadan, also said that worshipers at the Aqsa Mosque compound must be able to freely and safely perform their religious rituals.  The Russian Federation’s delegate warned against delays, noting that many have died because of the Council’s earlier inability to decide on a ceasefire.

    Several speakers condemned Israel’s decision to halt humanitarian aid into Gaza.  “This decision is illegal,” emphasized Guyana’s representative, who also highlighted the impact on women — many have died from complications related to pregnancy and childbirth because of the restrictions.  She also noted the 13 March report of the independent international commission of inquiry on the Occupied Palestinian Territory, which points to Israel’s systematic use of sexual, reproductive and other forms of gender-based violence since 7 October 2023.

    Slovenia’s representative, noting that it is roughly one year since the International Court of Justice issued provisional measures relating to humanitarian aid, famine and starvation in the case brought forward by South Africa, said that it is unacceptable that “our conversations are still the same”. 

    Greece’s delegate added that UNRWA’s role is indispensable with millions in urgent need of primary health services, education and shelter.  “War has not left the next generation in Gaza untouched,” he said, noting that thousands of children died, were injured or separated from their families and internally displaced.  The unhindered and continuous flow of aid into all parts of Gaza should remain a priority, and he also voiced support for the Arab plan put forth by Egypt.

    Also speaking today was the Permanent Observer of the League of Arab States, who urged implementation of the first phase of that plan, adopted during an Arab League meeting in Cairo and later endorsed by a ministerial meeting of the Organization of Islamic Cooperation (OIC).  He also urged the Council to activate international oversight mechanisms to guarantee the safe and sustainable delivery of aid and ensure the protection of Palestinian civilians.

    MIL OSI United Nations News –

  • MIL-OSI: LexinFintech Holdings Ltd. Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, March 18, 2025 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced its unaudited financial results for the quarter ended December 31, 2024.

    Mr. Jay Wenjie Xiao, Chairman and Chief Executive Officer of Lexin, commented, “The company remains committed to its prudent operating strategy and has achieved solid progress in its transformation, with key performance indicators showing continuous improvement.

    For the fourth quarter, net income was RMB363 million, representing an increase of about 17% quarter-over-quarter, marking the fourth consecutive quarter of improved profitability. Total loan origination reached RMB52 billion, representing approximately a 2% quarter-over-quarter increase, and outstanding loan balance stood at RMB110 billion, all in line with our guidance.

    As we advanced our risk management upgrading, we were pleased to see a continuous improvement in asset quality, evidenced by the decline in risk indicators of both newly originated and overall assets. This consistent enhancement in asset quality, along with ongoing operational refinements, has contributed to our sustainable profit growth.

    Looking ahead to 2025, in light of the current macroeconomic and industry landscape, we will adhere to our prudent operating strategy, prioritizing asset quality and focusing on profitability enhancement. With this approach, we expect to sustain steady growth in our performance.

    In accordance with our semi-annual dividend policy, the board of directors has approved a dividend of US$0.11 per ADS, representing 20% of net income from the second half of 2024. Effective from January 1, 2025, our cash dividend payout ratio will be raised to 25% of net income.”

    Mr. James Zheng, Chief Financial Officer of Lexin, commented, “Building upon the solid foundation of the third quarter, we recorded a net income of RMB363 million in the fourth quarter, representing a 17% increase compared to last quarter and 54% increase compared to the net income adjusted for the investment losses in the same period last year, further extending our stable growth trajectory. The net income take rate, calculated as net income divided by the average loan balance, increased from 1.09% in the third quarter to 1.31% in the fourth quarter of 2024, advancing by 22 basis points.”

    “Driven by the ongoing optimization of asset quality, further reduction in funding costs, a more balanced revenue mix, and improvement in customer acquisition efficiency, our revenue take rate and net income have continued to improve.”

    “Having achieved substantial progress in our transformation, we will continue to execute our prudent operating strategy. Looking ahead, we expect flat to single-digit growth of total loan origination in 2025 in view of the macroeconomic conditions, alongside a significant year-over-year increase in net income driven by margin expansion.”

    Fourth Quarter and Full Year 2024 Operational Highlights:

    User Base

    • Total number of registered users reached 228 million as of December 31, 2024, representing an increase of 8.6% from 210 million as of December 31, 2023, and users with credit lines reached 45.1 million as of December 31, 2024, up by 6.8% from 42.3 million as of December 31, 2023.
    • Number of active users1 who used our loan products in the fourth quarter of 2024 was 4.7 million, representing a decrease of 0.7% from 4.7 million in the fourth quarter of 2023. Number of active users1 who used our loan products in 2024 was 8.2 million, representing a decrease of 4.3% from 8.5 million in 2023.
    • Number of cumulative borrowers with successful drawdown was 33.8 million as of December 31, 2024, an increase of 7.1% from 31.5 million as of December 31, 2023.

    Loan Facilitation Business

    • As of December 31, 2024, we cumulatively originated RMB1,325.1 billion in loans, an increase of 19.1% from RMB1,113.1 billion as of December 31, 2023.
    • Total loan originations2 in the fourth quarter of 2024 was RMB52.0 billion, a decrease of 15.2% from RMB61.2 billion in the fourth quarter of 2023. Total loan originations2 in 2024 was RMB212 billion, a decrease of 15.0% from RMB250 billion in 2023.
    • Total outstanding principal balance of loans3 reached RMB110 billion as of December 31, 2024, representing a decrease of 11.1% from RMB124 billion as of December 31, 2023.

    Credit Performance4

    • 90 day+ delinquency ratio was 3.6% as of December 31, 2024, as compared with 3.7% as of September 30, 2024.
    • First payment default rate (30 day+) for new loan originations was below 1% as of December 31, 2024.

    Tech-empowerment Service

    • For the fourth quarter of 2024, we served over 100 business customers with our tech-empowerment service.
    • In the fourth quarter of 2024, the business customer retention rate5 of our tech-empowerment service was over 80%.

    Installment E-commerce Platform Service

    • GMV6 in the fourth quarter of 2024 for our installment e-commerce platform service was RMB969 million, representing a decrease of 25.0% from RMB1,292 million in the fourth quarter of 2023. GMV6 in 2024 for our installment e-commerce platform service was RMB3,633 million, representing a decrease of 31.3% from RMB5,289 million in 2023.
    • In the fourth quarter of 2024, our installment e-commerce platform service served over 280,000 users and 400 merchants.

    Other Operational Highlights

    • The weighted average tenor of loans originated on our platform in the fourth quarter of 2024 was approximately 13.1 months, as compared with 12.3 months in the fourth quarter of 2023. The weighted average tenor of loans originated on our platform in 2024 was approximately 12.9 months, as compared with 13.8 months in 2023.
    • Repeated borrowers’ contribution7 of loans across our platform for the fourth quarter of 2024 was 85.3%. Repeated borrowers’ contribution7 of loans across our platform for 2024 was 85.7%.

    Fourth Quarter 2024 Financial Highlights:

    • Total operating revenue was RMB3,659 million, representing an increase of 4.3% from the fourth quarter of 2023.
    • Credit facilitation service income was RMB2,712 million, representing a decrease of 0.5% from the fourth quarter of 2023. Tech-empowerment service income was RMB602 million, representing an increase of 41.0% from the fourth quarter of 2023. Installment e-commerce platform service income was RMB345 million, representing a decrease of 2.9% from the fourth quarter of 2023.
    • Net income attributable to ordinary shareholders of the Company was RMB363 million, representing an increase of over 100% from the fourth quarter of 2023. Net income per ADS attributable to ordinary shareholders of the Company was RMB2.06 on a fully diluted basis.
    • Adjusted net income attributable to ordinary shareholders of the Company8 was RMB391 million, representing an increase of 37.7% from the fourth quarter of 2023. Adjusted net income per ADS attributable to ordinary shareholders of the Company8 was RMB2.22 on a fully diluted basis.

    Full Year 2024 Financial Highlights:

    • Total operating revenue was RMB14,204 million, representing an increase of 8.8% from 2023.
    • Credit facilitation service income was RMB11,000 million, representing an increase of 13.8% from 2023. Tech-empowerment service income was RMB1,881 million, representing an increase of 14.7% from 2023. Installment e-commerce platform service income was RMB1,322 million, representing a decrease of 24.5% from 2023.
    • Net income attributable to ordinary shareholders of the Company was RMB1,100 million, representing an increase of 3.2% from 2023. Net income per ADS attributable to ordinary shareholders of the Company was RMB6.49 on a fully diluted basis.
    • Adjusted net income attributable to ordinary shareholders of the Company8 was RMB1,203 million, representing a decrease of 19.0% from 2023. Adjusted net income per ADS attributable to ordinary shareholders of the Company8 was RMB7.09 on a fully diluted basis.

    __________________________

    1. Active users refer to, for a specified period, users who made at least one transaction during that period through our platform or through our third-party partners’ platforms using the credit line granted by us.
    2. Total loan originations refer to the total principal amount of loans facilitated and originated during the given period.
    3. Total outstanding principal balance of loans refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, excluding loans delinquent for more than 180 days.
    4. Loans under Intelligent Credit Platform are excluded from the calculation of credit performance. Intelligent Credit Platform (ICP) is an intelligent platform on our “Fenqile” app, under which we match borrowers and financial institutions through big data and cloud computing technology. For loans facilitated through ICP, the Company does not bear principal risk.
    5. Customer retention rate refers to the number of financial institution customers and partners who repurchase our service in the current quarter as a percentage of the total number of financial institution customers and partners in the preceding quarter.
    6. GMV refers to the total value of transactions completed for products purchased on our e-commerce and Maiya channel, net of returns.
    7. Repeated borrowers’ contribution for a given period refers to the principal amount of loans borrowed during that period by borrowers who had previously made at least one successful drawdown as a percentage of the total loan facilitation and origination volume through our platform during that period.
    8. Adjusted net income attributable to ordinary shareholders of the Company, adjusted net income per ordinary share and per ADS attributable to ordinary shareholders of the Company are non-GAAP financial measures. For more information on non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures Statement” and the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.

    Fourth Quarter 2024 Financial Results:

    Operating revenue increased by 4.3% from RMB3,509 million in the fourth quarter of 2023 to RMB3,659 million in the fourth quarter of 2024.

    Credit facilitation service income was RMB2,712 million in the fourth quarter of 2024 as compared to RMB2,727 million in the fourth quarter of 2023. The decrease was driven by the decrease in guarantee income, partially offset by the increases in loan facilitation and servicing fees-credit oriented and financing income.

    Loan facilitation and servicing fees-credit oriented increased by 4.2% from RMB1,559 million in the fourth quarter of 2023 to RMB1,624 million in the fourth quarter of 2024. The increase was primarily driven by the increase in takerate of loan facilitation business.

    Guarantee income decreased by 18.6% from RMB709 million in the fourth quarter of 2023 to RMB577 million in the fourth quarter of 2024. The decrease was primarily due to the decrease of outstanding balances in the off-balance sheet loans funded by certain institutional funding partners, which are accounted for under ASC 460, Guarantees. 

    Financing income increased by 11.2% from RMB459 million in the fourth quarter of 2023 to RMB510 million in the fourth quarter of 2024. The increase was primarily driven by the increase in the origination of on-balance sheet loans.

    Tech-empowerment service income increased by 41.0% from RMB427 million in the fourth quarter of 2023 to RMB602 million in the fourth quarter of 2024. The increase was primarily driven by the increase of loan facilitation volume through ICP.

    Installment e-commerce platform service income was RMB345 million in the fourth quarter of 2024, as compared to RMB356 million in the fourth quarter of 2023.

    Cost of sales was RMB353 million in the fourth quarter of 2024, as compared to RMB344 million in the fourth quarter of 2023.

    Funding cost decreased by 24.6% from RMB76.2 million in the fourth quarter of 2023 to RMB57.5 million in the fourth quarter of 2024, which was primarily driven by the decrease in the cost of funding to fund the on-balance sheet loans.

    Processing and servicing costs increased by 13.4% from RMB514 million in the fourth quarter of 2023 to RMB583 million in the fourth quarter of 2024. This increase was primarily due to an increase in risk management and collection expenses.

    Provision for financing receivables was RMB297 million for the fourth quarter of 2024, as compared to RMB180 million for the fourth quarter of 2023. The increase was primarily due to the increase of the outstanding loan balances of on-balance sheet loans.

    Provision for contract assets and receivables was RMB154 million in the fourth quarter of 2024, as compared to RMB203 million in the fourth quarter of 2023. The decrease was primarily driven by the decrease of the outstanding loan balances of off-balance sheet loans.

    Provision for contingent guarantee liabilities was RMB941 million in the fourth quarter of 2024, as compared to RMB934 million in the fourth quarter of 2023.

    Gross profit was RMB1,274 million in the fourth quarter of 2024, as compared to RMB1,258 million in the fourth quarter of 2023.

    Sales and marketing expenses was RMB464 million in the fourth quarter of 2024, as compared to RMB430 million in the fourth quarter of 2023. This increase was primarily due to an increase in online advertising costs.

    Research and development expenses was RMB151 million in the fourth quarter of 2024, as compared to RMB136 million in the fourth quarter of 2023. The increase was primarily due to increased investment in technology development.

    General and administrative expenses decreased by 12.0% from RMB108 million in the fourth quarter of 2023 to RMB95.3 million in the fourth quarter of 2024, primarily as a result of the Company’s expense control measures.

    Change in fair value of financial guarantee derivatives and loans at fair value was a loss of RMB144 million in the fourth quarter of 2024, as compared to a loss of RMB248 million in the fourth quarter of 2023. The change was primarily due to the fair value loss from the re-measurement of the expected loss rates, partially offset by the fair value gains realized as a result of the release of guarantee obligation.

    Income tax expense was RMB67.6 million in the fourth quarter of 2024, as compared to income tax benefit of RMB9.7 million in the fourth quarter of 2023. The change was primarily due to the increase of income before income tax expense.

    Net income increased over 100% from RMB12.1 million in the fourth quarter of 2023 to RMB363 million in the fourth quarter of 2024.

    Full Year 2024 Financial Results:

    Operating revenue increased by 8.8% from RMB13,057 million in 2023 to RMB14,204 million in 2024.

    Credit facilitation service income increased by 13.8% from RMB9,666 million in 2023 to RMB11,000 million in 2024. The increase was driven by the increases in loan facilitation and servicing fees-credit oriented and guarantee income, partially offset by the decrease in financing income.

    Loan facilitation and servicing fees-credit oriented increased by 26.5% from RMB5,002 million in 2023 to RMB6,326 million in 2024. The increase was primarily due to the increase in takerate of loan facilitation business.

    Guarantee income increased by 5.7% from RMB2,519 million in 2023 to RMB2,664 million in 2024. The increase was primarily due to the increase in cumulative loan origination funded by certain institutional funding partners, which are accounted for under ASC 460, Guarantees.

    Financing income decreased by 6.3% from RMB2,145 million in 2023 to RMB2,010 million in 2024. The decrease was primarily due to the decrease in the origination of on-balance sheet loans.

    Tech-empowerment service income increased by 14.7% from RMB1,640 million in 2023 to RMB1,881 million in 2024. The increase was primarily due to the increase of loan facilitation volume through ICP.

    Installment e-commerce platform service income decreased by 24.5% from RMB1,751 million in 2023 to RMB1,322 million in 2024. The decrease was primarily due to the decrease in transaction volume in 2024.

    Cost of sales decreased by 19.3% from RMB1,636 million in 2023 to RMB1,320 million in 2024, which was consistent with the decrease in installment e-commerce platform service income.

    Funding cost decreased by 36.5% from RMB514 million in 2023 to RMB326 million in 2024, which was primarily driven by the decrease in the cost of funding to fund the on-balance sheet loans.

    Processing and servicing costs increased by 18.4% from RMB1,935 million in 2023 to RMB2,292 million in 2024. This increase was primarily due to an increase in risk management and collection expenses.

    Provision for financing receivables was RMB866 million in 2024, as compared to RMB627 million in 2023. The increase was primarily due to the increase of the outstanding loan balances of on-balance sheet loans.

    Provision for contract assets and receivables was RMB718 million in 2024, as compared to RMB629 million in 2023. The increase was primarily due to the increase of the outstanding loan balances of off-balance sheet loans.

    Provision for contingent guarantee liabilities was RMB3,656 million in 2024, as compared to RMB3,203 million in 2023. The fluctuation was primarily due to the re-measurement of the expected loss rates, which are accounted for under ASC 460, Guarantees.

    Gross profit increased by 11.4% from RMB4,513 million in 2023 to RMB5,026 million in 2024.

    Sales and marketing expenses was RMB1,787 million in 2024, as compared to RMB1,733 million in 2023.

    Research and development expenses was RMB578 million in the quarter of 2024, as compared to RMB513 million in 2023. The increase was primarily due to increased investment in technology development.

    General and administrative expenses was RMB374 million in 2024, as compared to RMB387 million in 2023.

    Change in fair value of financial guarantee derivatives and loans at fair value was a loss of RMB979 million in 2024, as compared to a loss of RMB206 million in 2023. The change was primarily due to the fair value loss from the re-measurement of the expected loss rates, partially offset by the fair value gains realized as a result of the release of guarantee obligation.

    Income tax expense was RMB253 million in 2024, as compared to RMB261 million in 2023. The change was primarily due to the decrease of effective tax rate.

    Net income increased by 3.2% from RMB1,066 million in 2023 to RMB1,100 million in the 2024.

    Recent Development

    Semi-Annual Dividend
    The board of directors of the Company has approved a dividend of US$0.055 per ordinary share, or US$0.11 per ADS, for the six-month period ended December 31, 2024 in accordance with the Company’s dividend policy, which is expected to be paid on May 16, 2025 to shareholders of record (including holders of ADSs) as of the close of business on April 17, 2025 New York time.

    Outlook
    Looking ahead, while our performance continues to demonstrate positive momentum, we remain prudent in light of ongoing macroeconomic uncertainties. Therefore, for full year 2025, we expect total loan origination to have flat to single-digit year-on-year growth depending on the macroeconomic conditions, alongside a significant increase in net income driven by continuing improvement in asset quality. These forecasts are subject to the impact of macroeconomic factors, and the company may adjust its performance outlook as appropriate based on evolving circumstances.

    Conference Call

    The Company’s management will host an earnings conference call at 10:00 PM U.S. Eastern time on March 18, 2025 (10:00 AM Beijing/Hong Kong time on March 19, 2025).

    Participants who wish to join the conference call should register online at:

    https://register-conf.media-server.com/register/BI6702756dbdb741f9b401c583a37bd291

    Once registration is completed, each participant will receive the dial-in number and a unique access PIN for the conference call.

    Participants joining the conference call should dial in at least 10 minutes before the scheduled start time.

    A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.lexin.com.

    About LexinFintech Holdings Ltd.

    We are a leading credit technology-empowered personal financial service enabler. Our mission is to use technology and risk management expertise to make financing more accessible for young generation consumers. We strive to achieve this mission by connecting consumers with financial institutions, where we facilitate through a unique model that includes online and offline channels, installment consumption platform, big data and AI driven credit risk management capabilities, as well as smart user and loan management systems. We also empower financial institutions by providing cutting-edge proprietary technology solutions to meet their needs of financial digital transformation.

    For more information, please visit http://ir.lexin.com.

    To follow us on Twitter, please go to: https://twitter.com/LexinFintech.

    Use of Non-GAAP Financial Measures Statement

    In evaluating our business, we consider and use adjusted net income attributable to ordinary shareholders of the Company, non-GAAP EBIT, adjusted net income per ordinary share and per ADS attributable to ordinary shareholders of the Company, four non-GAAP measures, as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define adjusted net income attributable to ordinary shareholders of the Company as net income attributable to ordinary shareholders of the Company excluding share-based compensation expenses, interest expense associated with convertible notes, and investment income/(loss) and we define non-GAAP EBIT as net income excluding income tax expense, share-based compensation expenses, interest expense, net, and investment income/(loss).

    We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Adjusted net income attributable to ordinary shareholders of the Company enables our management to assess our operating results without considering the impact of share-based compensation expenses, interest expense associated with convertible notes, and investment income/(loss). Non-GAAP EBIT, on the other hand, enables our management to assess our operating results without considering the impact of income tax expense, share-based compensation expenses, interest expense, net, and investment income/(loss). We also believe that the use of these non-GAAP financial measures facilitates investors’ assessment of our operating performance. These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP.

    These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using adjusted net income attributable to ordinary shareholders of the Company and non-GAAP EBIT is that they do not reflect all items of income and expense that affect our operations. Share-based compensation expenses, interest expense associated with convertible notes, income tax expense, interest expense, net, and investment income/(loss) have been and may continue to be incurred in our business and are not reflected in the presentation of adjusted net income attributable to ordinary shareholders of the Company and non-GAAP EBIT. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.

    We compensate for these limitations by reconciling each of the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

    Exchange Rate Information Statement

    This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2993 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on December 31, 2024. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Lexin’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “ expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the expectation of the collection efficiency and delinquency, business outlook and quotations from management in this announcement, contain forward-looking statements. Lexin may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Lexin’s goal and strategies; Lexin’s expansion plans; Lexin’s future business development, financial condition and results of operations; Lexin’s expectation regarding demand for, and market acceptance of, its credit and investment management products; Lexin’s expectations regarding keeping and strengthening its relationship with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Lexin’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Lexin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    LexinFintech Holdings Ltd.
    IR inquiries:
    Will Tan
    Tel: +86 (755) 3637-8888 ext. 6258
    E-mail: willtan@lexin.com

    Media inquiries:
    Ruifeng Xu
    Tel: +86 (755) 3637-8888 ext. 6993
    E-mail: media@lexin.com

    SOURCE LexinFintech Holdings Ltd.

    LexinFintech Holdings Ltd.
    Unaudited Condensed Consolidated Balance Sheets
      As of  
    (In thousands) December 31, 2023   December 31, 2024  
      RMB   RMB   US$  
    ASSETS            
    Current Assets            
    Cash and cash equivalents   2,624,719     2,254,213     308,826  
    Restricted cash   1,433,502     1,638,479     224,471  
    Restricted term deposit and short-term investments   305,182     138,497     18,974  
    Short-term financing receivables, net(1)   3,944,000     4,668,715     639,611  
    Short-term contract assets and receivables, net(1)   6,112,981     5,448,057     746,381  
    Deposits to insurance companies and guarantee companies   2,613,271     2,355,343     322,681  
    Prepayments and other current assets   1,428,769     1,321,340     181,024  
    Amounts due from related parties   6,989     61,722     8,456  
    Inventories, net   33,605     22,345     3,061  
    Total Current Assets   18,503,018     17,908,711     2,453,485  
    Non-current Assets            
    Restricted cash   144,948     100,860     13,818  
    Long-term financing receivables, net(1)   200,514     112,427     15,402  
    Long-term contract assets and receivables, net(1)   599,818     317,402     43,484  
    Property, equipment and software, net   446,640     613,110     83,996  
    Land use rights, net   897,267     862,867     118,212  
    Long‑term investments   255,003     284,197     38,935  
    Deferred tax assets   1,232,092     1,540,842     211,094  
    Other assets   861,491     500,363     68,549  
    Total Non-current Assets   4,637,773     4,332,068     593,490  
    TOTAL ASSETS   23,140,791     22,240,779     3,046,975  
                 
    LIABILITIES            
    Current liabilities            
    Accounts payable   49,801     74,443     10,199  
    Amounts due to related parties   2,958     10,927     1,497  
    Short‑term borrowings   502,013     690,772     94,635  
    Short‑term funding debts   3,483,196     2,754,454     377,359  
    Deferred guarantee income   1,538,385     975,102     133,588  
    Contingent guarantee liabilities   1,808,540     1,079,000     147,822  
    Accruals and other current liabilities   4,434,254     4,019,676     550,691  
    Convertible notes   505,450     –     –  
    Total Current Liabilities   12,324,597     9,604,374     1,315,791  
    Non-current Liabilities            
    Long-term borrowings   524,270     585,024     80,148  
    Long‑term funding debts   455,800     1,197,211     164,017  
    Deferred tax liabilities   75,340     91,380     12,519  
    Other long-term liabilities   50,702     22,784     3,121  
    Total Non-current Liabilities   1,106,112     1,896,399     259,805  
    TOTAL LIABILITIES   13,430,709     11,500,773     1,575,596  
    Shareholders’ equity:            
    Class A Ordinary Shares   199     205     31  
    Class B Ordinary Shares   41     41     7  
    Treasury stock   (328,764 )   (328,764 )   (45,040 )
    Additional paid-in capital   3,204,961     3,314,866     454,134  
    Statutory reserves   1,106,579     1,178,309     161,428  
    Accumulated other comprehensive income   (13,545 )   (29,559 )   (4,050 )
    Retained earnings   5,740,611     6,604,908     904,869  
    Total shareholders’ equity   9,710,082     10,740,006     1,471,379  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   23,140,791     22,240,779     3,046,975  

    __________________________
    (1) Short-term financing receivables, net of allowance for credit losses of RMB58,594 and RMB102,124 as of December 31, 2023 and December 31, 2024, respectively.

    Short-term contract assets and receivables, net of allowance for credit losses of RMB436,136 and RMB409,590 as of December 31, 2023 and December 31, 2024, respectively.

    Long-term financing receivables, net of allowance for credit losses of RMB3,087 and RMB1,820 as of December 31, 2023 and December 31, 2024, respectively.

    Long-term contract assets and receivables, net of allowance for credit losses of RMB61,838 and RMB30,919 as of December 31, 2023 and December 31, 2024, respectively.

    LexinFintech Holdings Ltd.
    Unaudited Condensed Consolidated Statements of Operations
      For the Three Months Ended December 31,     For the Year Ended December 31,  
    (In thousands, except for share and per share data) 2023   2024     2023   2024  
      RMB   RMB   US$     RMB   RMB   US$  
    Operating revenue:                          
    Credit facilitation service income 2,727,020     2,712,066     371,552       9,666,120     10,999,931     1,506,984  
    Loan facilitation and servicing fees-credit oriented 1,558,588     1,624,410     222,543       5,001,881     6,325,924     866,648  
    Guarantee income 709,422     577,168     79,072       2,519,284     2,663,824     364,942  
    Financing income 459,010     510,488     69,937       2,144,955     2,010,183     275,394  
    Tech-empowerment service income 426,882     601,693     82,432       1,640,453     1,881,376     257,747  
    Installment e-commerce platform service income 355,534     345,074     47,275       1,750,509     1,322,287     181,153  
    Total operating revenue 3,509,436     3,658,833     501,259       13,057,082     14,203,594     1,945,884  
    Operating cost                          
    Cost of sales (344,088 )   (352,749 )   (48,326 )     (1,635,635 )   (1,319,526 )   (180,774 )
    Funding cost (76,195 )   (57,471 )   (7,873 )     (513,869 )   (326,451 )   (44,724 )
    Processing and servicing cost (514,070 )   (583,119 )   (79,887 )     (1,935,016 )   (2,291,904 )   (313,990 )
    Provision for financing receivables (180,475 )   (296,741 )   (40,653 )     (627,061 )   (865,524 )   (118,576 )
    Provision for contract assets and receivables (202,677 )   (153,968 )   (21,094 )     (629,308 )   (718,413 )   (98,422 )
    Provision for contingent guarantee liabilities (933,854 )   (940,740 )   (128,881 )     (3,203,123 )   (3,655,548 )   (500,808 )
    Total operating cost (2,251,359 )   (2,384,788 )   (326,714 )     (8,544,012 )   (9,177,366 )   (1,257,294 )
    Gross profit 1,258,077     1,274,045     174,545       4,513,070     5,026,228     688,590  
    Operating expenses:                          
    Sales and marketing expenses (429,573 )   (464,263 )   (63,604 )     (1,733,301 )   (1,787,299 )   (244,859 )
    Research and development expenses (135,837 )   (151,081 )   (20,698 )     (513,284 )   (578,243 )   (79,219 )
    General and administrative expenses (108,305 )   (95,335 )   (13,061 )     (387,387 )   (374,481 )   (51,304 )
    Total operating expenses (673,715 )   (710,679 )   (97,363 )     (2,633,972 )   (2,740,023 )   (375,382 )
    Change in fair value of financial guarantee derivatives and loans at fair value (247,526 )   (143,619 )   (19,676 )     (206,368 )   (979,234 )   (134,155 )
    Interest expense, net (10,245 )   (2,560 )   (351 )     (50,483 )   (9,007 )   (1,234 )
    Investment loss (302,128 )   (543 )   (74 )     (303,235 )   (2,417 )   (331 )
    Others, net (22,092 )   13,754     1,884       7,774     58,188     7,972  
    Income before income tax expense 2,371     430,398     58,965       1,326,786     1,353,735     185,460  
    Income tax benefit/(expense) 9,726     (67,649 )   (9,268 )     (260,841 )   (253,275 )   (34,699 )
    Net income 12,097     362,749     49,697       1,065,945     1,100,460     150,761  
    Net income attributable to ordinary shareholders of the Company 12,097     362,749     49,697       1,065,945     1,100,460     150,761  
                               
    Net income per ordinary share attributable to ordinary shareholders of the Company                          
    Basic 0.04     1.09     0.15       3.24     3.32     0.45  
    Diluted 0.04     1.03     0.14       3.17     3.24     0.44  
                               
    Net income per ADS attributable to ordinary shareholders of the Company                          
    Basic 0.07     2.18     0.30       6.49     6.64     0.91  
    Diluted 0.07     2.06     0.28       6.34     6.49     0.89  
                               
    Weighted average ordinary shares outstanding                          
    Basic 329,297,640     333,182,976     333,182,976       328,523,952     331,403,936     331,403,936  
    Diluted 331,941,385     351,577,582     351,577,582       359,820,982     339,261,349     339,261,349  
    LexinFintech Holdings Ltd.
    Unaudited Condensed Consolidated Statements of Comprehensive Income
     
      For the Three Months Ended December 31,     For the Year Ended December 31,  
    (In thousands) 2023   2024     2023   2024  
      RMB   RMB   US$     RMB   RMB   US$  
    Net income   12,097     362,749     49,697       1,065,945     1,100,460     150,761  
    Other comprehensive income                          
    Foreign currency translation adjustment, net of nil tax   27,841     642     88       7,297     (16,014 )   (2,194 )
    Total comprehensive income   39,938     363,391     49,785       1,073,242     1,084,446     148,567  
    Total comprehensive income attributable to ordinary shareholders of the Company   39,938     363,391     49,785       1,073,242     1,084,446     148,567  
    LexinFintech Holdings Ltd.
    Unaudited Reconciliations of GAAP and Non-GAAP Results
      For the Three Months Ended December 31,     For the Year Ended December 31,  
    (In thousands, except for share and per share data) 2023   2024     2023   2024  
      RMB   RMB   US$     RMB   RMB   US$  
    Reconciliation of Adjusted net income attributable to ordinary shareholders of the Company to Net income attributable to ordinary shareholders of the Company                          
    Net income attributable to ordinary shareholders of the Company   12,097     362,749     49,697       1,065,945     1,100,460     150,761  
    Add: Share-based compensation expenses   32,959     27,244     3,732       117,852     94,623     12,963  
    Interest expense associated with convertible notes   11,943     –     –       73,807     5,695     780  
    Investment loss   302,128     543     74       303,235     2,417     331  
    Tax effects on Non-GAAP adjustments (2)   (75,440 )   –     –       (75,440 )   –     –  
    Adjusted net income attributable to ordinary shareholders of the Company   283,687     390,536     53,503       1,485,399     1,203,195     164,835  
                               
    Adjusted net income per ordinary share attributable to ordinary shareholders of the Company                          
    Basic   0.86     1.17     0.16       4.52     3.63     0.50  
    Diluted   0.82     1.11     0.15       4.13     3.55     0.49  
                               
    Adjusted net income per ADS attributable to ordinary shareholders of the Company                          
    Basic   1.72     2.34     0.32       9.04     7.26     0.99  
    Diluted   1.64     2.22     0.30       8.26     7.09     0.97  
                               
    Weighted average shares used in calculating net income per ordinary share for non-GAAP EPS                          
    Basic   329,297,640     333,182,976     333,182,976       328,523,952     331,403,936     331,403,936  
    Diluted   345,913,435     351,577,582     351,577,582       359,820,982     339,261,349     339,261,349  
                               
    Reconciliations of Non-GAAP EBIT to Net income                          
    Net income   12,097     362,749     49,697       1,065,945     1,100,460     150,761  
    Add: Income tax (benefit)/expense   (9,726 )   67,649     9,268       260,841     253,275     34,699  
    Share-based compensation expenses   32,959     27,244     3,732       117,852     94,623     12,963  
    Interest expense, net   10,245     2,560     351       50,483     9,007     1,234  
    Investment loss   302,128     543     74       303,235     2,417     331  
    Non-GAAP EBIT   347,703     460,745     63,122       1,798,356     1,459,782     199,988  

    (2) To exclude the tax effects related to the investment loss

    Additional Credit Information

    Vintage Charge Off Curve1

    Dpd30+/GMV by Performance Windows1

    First Payment Default 30+1

    1. Loans facilitated under ICP are excluded from the chart.

    The MIL Network –

  • MIL-OSI Australia: NAB welcomes more support for no-interest loans

    Source: National Australia Bank

    More Australians will be able to access no-interest loans thanks to a $48.7 million funding boost from the Federal Government for the No Interest Loans program (NILs).

    The NILs program – delivered by Good Shepherd with capital provided by NAB – has already helped more than one million Australians with over $560 million in interest and fee free loans over the past 21 years.

    NAB Executive Sustainability Jessica Forrest

    NAB Executive Sustainability Jessica Forrest said NAB is proud to be the bank behind Australia’s longest standing no interest loans program, providing a safe and accessible way for people to borrow money when they need it the most.

    “NILs is NAB’s longest-running community partnership, and we’re committed to ensuring more Australians can access credit for life’s essentials.

    “This additional funding means even more people on lower incomes can get the support they need without the stress of interest charges or hidden fees.”

    No-interest loans of up to $2,000 help cover household essentials like fridges, washing machines, and furniture, as well as education and medical expenses. NILs for Vehicles loans of up to $5,000 can be used for motor vehicles, mobility scooters, registration, and maintenance costs.

    “These loans give people a safer alternative to high-cost payday loans and can also assist Australians escaping family, domestic and sexual violence – helping them with financial recovery and independence,” said Ms Forrest.


    Notes to the Editor:

    Individuals can apply for NILs at over 600 locations across Australia. They are available
    to individuals and families who can service the loan and:

    • earn less than $70,000 gross annually (before tax) as a single person or $100,000 gross (before tax)
      as a couple or person with dependants, or
    • have experienced family or domestic violence in the last 10 years, or
    • have a Health Care Card or Pension Card

    More information about NILs is available on NAB’s website.

    Topics

    SEE ALL TOPICS

    Media Enquiries

    For all media enquiries, please contact the NAB Media Line on 03 7035 5015

    MIL OSI News –

  • MIL-OSI: HTX February Performance Report: Trading Volume Surges, Secured Top 3 Ranking in EUR-Stablecoin Trading Volume

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 18, 2025 (GLOBE NEWSWIRE) — Amid February’s cryptocurrency market volatility, HTX demonstrated robust performance, delivering exceptional achievements in trading volume, user engagement, product enhancements, and global market expansion. HTX’s performance during this period has garnered recognition from prominent media outlets, underscoring the platform’s resilience and commitment to providing a robust trading environment.

    Stronger Platform Growth with Industry-Wide Recognition

    February witnessed a substantial surge in HTX’s trading volume, accompanied by an 8.15% month-over-month rise in HTX App logins, indicating heightened user engagement and platform appeal..

    According to CoinDesk Data’s February 27th report, HTX’s global expansion has yielded impressive results, securing a top-three position in EUR-stablecoin trading volume. This achievement underscores HTX’s growing presence and influence within the international digital asset market. Furthermore, HTX has been honored by Forbes as one of the “Top 25 World’s Most Trustworthy Crypto Exchanges of 2025,” a testament to its unwavering commitment to security, regulatory compliance, and user confidence.

    HTX also participated in key industry summits during February. At the 2025 HTX DAO Victoria Harbour Night – Journey of Confidence event in Hong Kong, Justin Sun, Global Advisor of HTX, discussed the decentralized stablecoin USDD, emphasizing its innovative mechanisms designed to optimize user returns and enhance the overall user experience. He reaffirmed USDD’s commitment to long-term development, emphasizing robust technology and effective community governance as pillars for sustainable growth.

    Maximizing Wealth Creation for Users

    In February, HTX listed six new assets, bringing significant wealth growth opportunities for its users, particularly among the high-performers. Specifically, KAITO surged 207% post-listing, BERA increased by 80%, and LAYER rose by 50%. Even amidst recent market fluctuations, HTX continues to provide avenues for wealth creation.

    HTX exhibited keen market discernment by being among the first to list TST and SHELL from the BSC ecosystem. TST, a notable BSC project endorsed by CZ, saw HTX respond promptly to its burgeoning popularity, effectively capturing market trends and providing users with a distinct early-mover advantage.

    HTX Ventures, recognizing emerging AI opportunities, released its latest research report in February titled “DeepSeek Sparks the AI Sector’s ‘iPhone Moment,’ and Agent Tokens’ Integration into Real Crypto Businesses Accelerates.” This insightful report explores AI technology’s extensive applications within the cryptocurrency sector, providing investors with valuable market foresight while fostering ecosystem growth and pioneering project incubation.

    HTX also focused on enhancing its product offerings. The platform revamped the HTX Earn subscription interface, streamlining processes and improving operational convenience for an optimized user experience. Additionally, the USDD Flexible Earn platform was upgraded to support USDT subscriptions at a 1:1 ratio, offering users a 12% APY and ensuring stable returns during market fluctuations. HTX will remain dedicated to continuously improving product functionalities and enriching its offerings.

    Safeguarding User Assets as a Priority

    HTX has significantly enhanced its security infrastructure throughout February, reinforcing its commitment to protecting user accounts, transactions, and assets.These comprehensive security measures underscore HTX’s unwavering dedication to providing a secure and reliable trading environment for its global user base.

    As a pioneer in implementing Merkle Tree Proof of Reserves, HTX has consistently demonstrated its dedication to transparency by publicly disclosing reserve data for 29 consecutive months. The platform recently updated its Merkle Tree Proof of Reserves for March 2025.

    Users can access the monthly updated reports and view the platform’s financial status from the “Assets – PoR Reports” page on the HTX official website.

    Throughout February, HTX’s customer service team provided exceptional support, assisting 33,743 users and effectively addressing 65,636 inquiries and tickets across various areas such as P2P trading, on-chain transactions, 2FA, asset management, and KYC verification. The team’s dedication to providing professional and timely solutions resulted in an 82% user satisfaction rating in February, fostering a positive and loyal user base.

    HTX showcased robust growth in February, driven by significant trading volume increases, innovative product offerings, fortified security measures, and premium user service. With its global expansion and continuous improvements to products and services, HTX is well-positioned to gain a larger market share, offering an enhanced digital asset trading and investment experience to users worldwide.

    About HTX

    Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

    As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

    To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord. For further inquiries, please contact glo-media@htx-inc.com.

    Disclaimer: This press release is provided by HTX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/74172104-0c15-4b95-a384-c8203f9bde99

    https://www.globenewswire.com/NewsRoom/AttachmentNg/12d9ad00-ee6d-4cd6-ad47-327789a39c80

    https://www.globenewswire.com/NewsRoom/AttachmentNg/49fe9ddc-6792-4d5f-80b1-69589c38ec09

    The MIL Network –

  • MIL-OSI New Zealand: RIF delivering for regional NZ, more to come

    Source: New Zealand Government

    The Coalition Government’s drive for regional economic growth through the $1.2 billion Regional Infrastructure Fund is on track with more than $550 million in funding so far committed to key infrastructure projects, Regional Development Minister Shane Jones says.

    “To date, the Regional Infrastructure Fund (RIF) has received more than 250 applications. Approved investments align with the Government’s focus areas of enabling growth and water storage, supporting energy generation and Māori economic development, and increasing resilience,” Mr Jones says.

    “The Government is committed to boosting the economy by prioritising spending through the RIF to areas that deliver the best impact regionally. While the eligibility criteria are tight, the breadth of projects already approved are remarkable and I have no doubt they will have significant impacts on regional economies. 

    “From investment into cutting-edge technology like supercritical geothermal energy to ensuring our regions can better cope with devastating weather events, the RIF is playing an important role in delivering well-planned resilient and enabling infrastructure.”

    Mr Jones also today released dates for further regional summits.

    “Last year I made it a priority to travel around the country to talk to communities about their regional priorities, and ideas and aspirations for their regions. So far we have held 10 summits, with more than 1200 stakeholders attending. I’m pleased to confirm the remaining four summits for this year.”

    Regional Growth Summit Date
    Canterbury  Friday 28 March
    Chatham Islands Tuesday 15 April
    Wairarapa & Kāpiti  Friday 9 May
    Otago Friday 16 May

    Editors’ note

    The Regional Infrastructure Fund is a capital fund with the primary purpose of accelerating infrastructure projects, particularly with a focus on water storage, energy, Māori economic development, growth, and resilience.

    Committed funding includes approved funding and funding ring-fenced for specific purposes but is yet to be approved for release.

    More information about the RIF can be found on the Grow Regions website.

    MIL OSI New Zealand News –

  • MIL-OSI Submissions: Gaza – “We are horrified by the attacks launched by Israel today on the people of Gaza, shattering the nearly two-month-old ceasefire.” – MSF

    Source: Medecins Sans Frontieres/Doctors Without Borders (MSF)

    “We are horrified by the attacks launched by Israel today on the people of Gaza, shattering the nearly two-month-old ceasefire.”

    Claire Magone, General Director France, Medecins Sans Frontieres/Doctors Without Border.

    “We are horrified by the attacks launched by Israel today on the people of Gaza, shattering the nearly two-month-old ceasefire. Out of the hundreds killed, according to the Ministry of Health, MSF received 75 dead on arrival and scores of wounded in just three of the facilities we support.

    Our staff were completely taken by surprise and found themselves once again having to deal with influxes of mass casualties, many of whom were children.

    In line with the tactics that the Israeli authorities have applied since October 2023, they have once again chosen to collectively punish the people of Gaza – with the explicit approval of their closest ally, the United States – striking with an intensity not seen since the early stages of the war. For over 15 months, before the ceasefire, people in Gaza were indiscriminately killed, mutilated, wounded, and displaced.

    Israeli forces undertaking these latest ruthless attacks and evacuation orders make us fear that a new phase of military operations in Gaza is about to begin. Palestinians in Gaza will simply not be able to withstand this, neither physically nor mentally. Their hopes of recovering at least part of their previous lives are being shattered.

    Since the ceasefire came into effect on 19 January, people have been struggling to restore the basics of their day to day lives after a drawn out, devastating military campaign, which has annihilated the very fabric of society in Gaza. Israel has once again cut access to humanitarian aid and basic goods.

    MSF calls for the ceasefire to be immediately restored and for Israel to not restart its campaign of destruction and the nightmarish, massive bombing on the people of Gaza. MSF also calls for the blockade to be lifted, and for people to regain unrestricted access to basic supplies and aid. Injured people and patients requiring urgent medical care should be allowed to seek care outside of Gaza, provided their right to a safe and dignified return is granted.”

    Claire Nicolet, MSF head of emergencies, currently in Gaza

    “This night at 2 a.m. we have been awoken by the sounds of bombing, heavy bombing. It was absolutely terrifying for 20 minutes with bombs all over the place and when we started looking at what is the situation for the whole Gaza Strip, we understood that the massive attack with airstrike, heavy artillery, quadcopters was for the whole Gaza Strip. After these 20 minutes we continued to hear all night long some heavy bombing, some airstrikes, some artillery in Rafah, in Khan Younis, in almost all parts of Gaza.

    We heard as soon as it started the sounds of ambulances because obviously there was a huge number of patients, of wounded, of dead. So lots of patients arrived to the different hospitals.

    Hospitals were very overwhelmed and also at the moment it’s quite difficult because it means that the patient cannot really move, they don’t know if it’s safe and even our teams, we don’t know if we can move around the Gaza Strip because as it was an ongoing truce there was no more notification system or any system to be sure that we will be safe by moving.  Now it means as well that the MSF teams in the north and the team in the south are again split. It means as well the population cannot move freely from one place to another and in reality, there is very poor access to health care, very poor access to shelter as everything is destroyed.

    This is the current situation we are facing and unfortunately there is a lot of needs but also a lot of uncertainty on what’s next.

    The population here is completely afraid. Of course, they see this is a full restart of the fighting and they are very scared of what’s next.”

    MSF is an international, medical, humanitarian organisation that delivers medical care to people in need, regardless of their origin, religion, or political affiliation. MSF has been working in Haiti for over 30 years, offering general healthcare, trauma care, burn wound care, maternity care, and care for survivors of sexual violence. MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. In 2022, more than 120 project staff from Australia and New Zealand worked with MSF on assignment overseas. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au  

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Australia – Beyond the belt: New hotspots emerge as movers migrate past commuter communities – CBA

    Source: Commonwealth Bank of Australia (CBA)

    Regional living prevails as CommBank and the Regional Australia Institute’s latest Regional Movers Index reveals Australians are migrating further afield. 

    The latest Regional Movers Index (RMI) report reveals the emergence of several new regional destinations, as communities beyond the traditional ‘commuter belt’ surge in popularity for newcomers. 

    The Regional Australia Institute (RAI) CEO Liz Ritchie said the Local Government Areas (LGAs) of Gympie in Queensland, Richmond Valley and Wingecarribee in New South Wales, and East Gippsland in Victoria have made their debut as hotspots in the December 2024 quarter RMI report, highlighting relocators’ appetites for destinations further afield. 

    “The desire for regional living remains strong, with 32 per cent more people moving from big cities to regions than in the opposite direction, building on pre-existing data which shows the nation’s migration patterns are changing,” Ms Ritchie said.  

     “Regional Australia is the new frontier, and people are enthusiastic about the career opportunities and lifestyle benefits it offers. The RMI’s net migration index, which measures net population flow into regional Australia, is now sitting 51 per cent above the pre-Covid average.  

     “The emergence of new mover hotspots further out shows this increase of population into Australia’s regions is not isolated to a couple of places, rather that it’s happening all over the country. It’s why we must ensure communities have the infrastructure, funding and support they need to ensure they can continue to welcome new residents.”  

    The RMI is a partnership between the RAI and the Commonwealth Bank of Australia (CBA), which analyses quarterly and annual trends in people moving to and from Australia’s regional areas.  

    This latest report signifies a change in mover preferences, with communities such as Queensland’s Sunshine Coast, which has been the nation’s most popular regional mover destination for nine consecutive quarters, gradually reducing its share of net internal migration.   

     CBA’s Acting Executive General Manager Regional and Agribusiness Banking, Josh Foster, said while the Sunshine Coast remains a firm favourite, other communities in the Sunshine State are gaining movers like nearby Gladstone, Toowoomba, Fraser Coast, Mackay and Gympie.  

    “The lure of the Sunshine State has long attracted both city and regional movers, with the latest RMI proving the appeal of a scenic and often more balanced lifestyle extends beyond metropolitan areas, bringing renewed economic and social benefits to other areas of the state.    

     “This quarter saw the rise in popularity of several new growth hotspots within regional Queensland, demonstrating the diversification of the state’s economy. Fraser Coast’s deep roots in agriculture and Gladstone’s mining and green energy boom are just some of the sectors helping drive increased employment opportunities to these regions. With lower-than-average employment rates and limited housing supply, more investment is needed in construction, manufacturing and property development to support these growing communities.”  

    Mr Foster added: “Continued development in roads and transport infrastructure like the Gympie bypass are also integral to improving accessibility to these thriving regions and offer businesses a commercial opportunity to expand or relocate beyond major metro areas. CBA is working closely with local government, key industries and business customers to unlock new areas of investment across the state.” 

     Regional New South Wales and Victoria accounted for 71 per cent of all net regional inflows in the December 2024 quarter, while Queensland’s share stood at 19 per cent and there were small gains made in regional South Australia, Tasmania and Western Australia.   

     Sydneysiders continue to lead the charge into the regions, accounting for 59 per cent of net city outflows, down from 65 per cent in the 2023 December quarter. Whilst Melbournians now account for 40 per cent of net city outflows, up from 35 per cent a year ago.  

     Ms Ritchie said this quarter’s report also highlighted city-dwellers are increasingly relocating to areas which have previously been more popular with regional movers, like Greater Bendigo and Maitland.  

     “It’s critical that decision-makers note this important, contemporaneous data to ensure plans can be made, both now and into the future for these growing communities. The better we are able to project Australia’s population movements, the better we can prepare for them, ensuring the needed skills and services are in the right place, at the right time,” Ms Ritchie said.  

    Mr Foster said regional Western Australia also continues to exhibit a strong lure for movers, including Albany, Bunbury, Harvey, Capel and York.  

    “Of note, Bunbury in the southwest corner of Western Australia has retained its position as the nation’s fastest growing hotspot for capital movers over the 12 month period to December 2024. The area’s appeal has been supercharged by major infrastructure developments such as the completion of the Wilman Wadandi Highway, helping ease travel times between city-to-region.  

     “The RMI has also shown that in this past quarter, people are willing to go further afield with the south coast LGA of Albany recording the third highest growth in net internal migration. Located almost five hours drive from Perth, Albany offers an idyllic lifestyle, reliable healthcare and education services, as well as strong employment opportunities across several sectors including agriculture, aquaculture, renewable energy and tourism.”  

    Mr Foster concluded: “This latest RMI proves that the great regional migration is being felt deep within our regions, with the economic and lifestyle gains no longer contained to areas within commuting distance. With the right commercial and industry investments, this offers a win-win for consumers as well as businesses.”    

    The December 2024 quarter saw a seasonal reduction in internal migration across all mover types, as people tend to stay put in the last three months of the year, with capital-to-regional migration as measured by the RMI down by 11 per cent.   

    Despite lower mobility across the country, capital-to-regional relocations remain 8 per cent higher than the pre-Covid average and 3 per cent higher than a year ago.  

    The reduction also of regional-to-regional and regional-to-capital relocations, suggests more regional movers are choosing to settle where they are, rather than relocate elsewhere.

    The Regional Movers Index, launched in 2021, tracks movements between Australia’s regions and capital cities, using Commonwealth Bank data from relocations amongst more than 14.3 million customers. This enables early identification of growth trends and flags places emerging as hot spots needing fresh thinking on housing and infrastructure.   

    Data based on CBA customer address changes over the past five years, with prior addresses resided in for at least six months. Greater Capital City/Regional Area based on ABS 1270.0.55.001 GCCSA. An LGA must have recorded net internal migration inflows in 2024 of 50 or more people to be included in the report.

    The RMI is used primarily to map population movements between Australia’s regional areas and its capital cities. For this reason, it uses an ABS classification of regional that includes areas in and around other centres of population, including the Gold Coast, Sunshine Coast, Newcastle, Wollongong and Geelong.  

    MIL OSI – Submitted News –

  • MIL-OSI Australia: Housing boost for Brighton, Tasmania

    Source: Australian Ministers for Regional Development

    The Australian Government is Building Australia’s Future by investing in crucial infrastructure to boost housing supply across the country.

    Critical sewer infrastructure upgrades for a new urban precinct in Brighton, Tasmania are now complete.

    Located near the new Brighton High School, Brighton’s sewerage infrastructure has been enhanced to meet the needs of the rapidly expanding community. 

    New residential and commercial developments are benefitting from improved services, supporting economic growth and liveability in the region.

    TasWater’s work included the construction of a new sewage pumping station, a gravity sewer main, and a rising sewer main. The expanded system is designed to service 73 hectares of residential and commercial land. 

    Delivered in collaboration with Brighton Council and supported by $10.1 million from the Australian Government, the completion of TasWater’s work on the project marks a significant milestone in ensuring the region’s future growth and sustainability.

    Brighton Council are continuing to deliver upgrades to 2,040 metres of Brighton Road, Dylan Street and William Street, including new footpaths, kerb, gutter and landscaping.  

    It will also include 1,090 metres of 2.5 metre wide separated shared path to connect to the existing shared path at the Brighton Industrial Hub. These works are expected to be completed in early 2026.

    The $10.1 million in Australian Government funding is being provided through the Community Enabling Infrastructure Stream of the Housing Support Program, which is designed to fast track the delivery of increased housing supply by funding projects that seek to deliver enabling infrastructure to support new housing development.

    Quotes attributable to Federal Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

    “We’re turbocharging housing supply in Tasmania by delivering vital enabling infrastructure such as this project in Brighton.

    “A place to call home is not a luxury or a nice-to-have, but a fundamental need, and our Government is making this a reality for more Australians.”

    Quotes attributable to TasWater General Manager Project Delivery Tony Willmott:

    “The completion of the work highlights TasWater’s commitment to delivering essential services that support Tasmania’s growing communities.

    “This upgrade will be a game-changer for Brighton.

    “This infrastructure will provide essential services to the new Brighton High School, up to 600 new homes, including 110 housing lots created through Homes Tasmania – accelerating much-needed housing supply for Greater Hobart.

    “We have delivered a future-proofed water and sewerage network that will support the region’s development for years to come. We are grateful for the Australian Government’s support and for the strong collaboration with Brighton Council, which made this project possible.”

    Quotes attributable to Brighton Council Mayor Leigh Gray: 

    “This urban growth collaboration between Brighton Council and TasWater has been a gamechanger for progressing the development of the South Brighton area.  It will facilitate a range of residential and commercial developments for our rapidly growing community and create the outcomes we had always envisaged for this precinct.  

    “Council has been extremely pleased to partner with TasWater to deliver these positive outcomes, with considerable interest from developers to add more housing lots. Due to this effective partnership with TasWater, we can see Brighton Council’s long-term planning coming to fruition.” 

    Quotes attributable to Federal Minister for Social Services and NDIS Amanda Rishworth:

    “The Albanese Government has an ambitious agenda to boost housing supply across Australia and it’s fantastic to be in Tasmania to see this work underway. This new infrastructure in Brighton will be a game-changer for the growing community.”  

    MIL OSI News –

  • MIL-OSI Australia: ABC Newcastle, Paul Culliver

    Source: Australian Ministers for Regional Development

    PAUL CULLIVER: Catherine King is the Federal Minister for Infrastructure and Transport and is visiting the region today. Let’s find out why. Minister, good morning to you.

    CATHERINE KING: Hi, Paul. How are you?

    PAUL CULLIVER: I’m very well. What brings you to the region?

    CATHERINE KING: Well, today– I was actually here three weeks ago inspecting the Singleton Bypass, which is going along well. It’s a really important part of infrastructure here for the region. But we’re also announcing today that because of the great work they’ve done on Singleton, it means that we can now bring money forward to get the Muswellbrook Bypass started. There was always an issue between the two projects, just making sure we had the workforce and capacity to do that work. So today we’re announcing that we’re going to bring that Muswellbrook Bypass money forward. We’ll start to see some early works and activities, movement of services and things like that through the course of the next few months so that we can start work to get that really– next important project underway.

    And then we’re also starting– we’re putting some money in to do the planning work to actually start thinking about how do we then build a bypass for Cessnock. And again, this is about making sure we can get the huge volumes of traffic that we’re now seeing through what largely were really small country towns originally, but have seen such growth, to get the traffic out, get people to work more quickly, but give people back their main streets.

    PAUL CULLIVER: All right. On the Muswellbrook Bypass – so how much money is sort of being put into this early start?

    CATHERINE KING: Yeah. So the total Australian Government commitment is $304 million. And the amount of money we’re bringing forward is really just– is to do that early work. So making sure that we’ve got the services movement, that’s often the biggest part of the preparation work that needs to be done. So, moving– whether it’s sewerage works, water, utilities, power utilities, those sorts of things. So quite a bit of the money, is being brought forward to do that.

    PAUL CULLIVER: Okay. And– sorry, when you say brought forward, how much sooner is all of this beginning?

    CATHERINE KING: Well, it was not due to start– early works were not due to start until next year, but they’ll start this year. So it’s a year early.

    PAUL CULLIVER: Okay, actual 12 months early.

    CATHERINE KING: Yeah, which is good.

    PAUL CULLIVER: Understood. Just explain when you say that– what, things went so well on the Singleton Bypass that that’s allowed this to happen? Just explain what that actually means.

    CATHERINE KING: Yeah, so there was always what we had to do when we looked at the pipeline of projects. And as people are driving around, you can see there’s a lot of work going on at the moment, whether it’s from Hexham, Raymond Terrace, obviously Singleton, that there just were some issues in terms of making sure we had the workforce to be able to deliver these projects, that Transport for New South Wales also could manage those projects as well. So we were waiting to see– get Singleton started first. That’s really now well and truly underway and looking very good, so that’s allowed us then to bring Muswellbrook a bit forward so that we can actually start work on that and have that continuous pipeline of work for people in the district.

    PAUL CULLIVER: Yeah, right. So it’s not so much that the people working on Singleton will be the people working on the Muswellbrook Bypass.

    CATHERINE KING: Well, obviously that will need to go out to tender. New South Wales will manage all of that project. But generally people move from work site to work site. Generally, that’s what happens in a region rather than importing people in.

    PAUL CULLIVER: [Talks over] Yeah, sure. What is the timeline for the Muswellbrook Bypass now?

    CATHERINE KING: Yeah, again, that will be managed by the New South Wales government. But as I said, early works which are all of the earthworks, the movement of services, that will happen this year with the major construction to start early 2026.

    PAUL CULLIVER: Okay. Well let’s talk about the Cessnock Bypass then. So, what’s the plan there?

    CATHERINE KING: Yeah, so really this is planning money. So it’s to plan to work out what to do. Like, where would you put the bypass? How do you make sure you get the efficient movement of traffic? What’s the landscape like? How do you actually move people around? We know that there are significant housing developments slated for Cessnock. Again, people are discovering what a great place it is to live, but that brings challenges when it comes to infrastructure. So really this is planning money for New South Wales to then start the planning work to look at how do you actually plan for a bypass, where does it go, what does it look like? There’ll be a lot of community consultation along the process, a lot of engineers having a look at it. But really that’s the money that we’re announcing today.

    There’s a number of key routes that lead right into Wollombi Road in the middle of Cessnock, and that population boom with surrounding suburbs and more traffic is making it pretty difficult for people. So really it’s looking to identify what were the alternate routes connecting those new housing developments in Bellbird and Cessnock South to those in the north, and then onward onto the Hunter Expressway – so what’s the best route for that, and how do you do that? That’s really what the money is for, to plan that.

    PAUL CULLIVER: So obviously with population in the Hunter growing and growing and growing, getting people around is a pretty high priority. So I understand the need for more road infrastructure – although I’m sure there’s many that would say, why aren’t we also doing more to improve public transport links, rail links? Why is there not more money being spent on that aspect of getting people around the Hunter?

    CATHERINE KING: Yeah, well, certainly in terms of the money that we are investing, a large proportion of it, you are right, is on that road infrastructure. Most people are still pretty reliant on their cars to get to work and to get to and from their homes to work. But certainly over time, those big public transport links, they are something that New South Wales Government obviously has looked at. We’re taking responsibility for trying to really get high speed rail up and running. We’ve invested substantially in that, and you’ll see some further work now that we’ve got the business case for that. You’ll see some further work now in the development stage of high speed rail. But really that is obviously Newcastle– from Newcastle, Central Coast into Sydney. But that is again looking at can people work from home more, how do we get bigger industries and bigger businesses into Newcastle and into the Hunter itself. So really there the investments that we make and then looking at further transport movements is really something we do in partnership with the New South Wales Government.

    PAUL CULLIVER: Speaking of rail, of course, the business case for the high speed rail between Sydney to Newcastle, I understand, was given to the Government just before the end of last year, still waiting for an investment decision. What can you tell me about that?

    CATHERINE KING: Yeah, well it’s with Infrastructure Australia at the moment. So, they will provide advice to government via Cabinet, via the budget process for when it’s ready for further investment. It will still need a development phase. That’s the next phase of work that will be recommended to us, which is again looking at that land acquisition, the finalising all of the geotechnical work and getting it ready for an investment decision. But we’ll make some announcements about that in due course, but Infrastructure Australia is looking at the business case at the moment.

    PAUL CULLIVER: Okay, so Infrastructure Australia haven’t said to the Government yet– you haven’t been provided advice as to whether it’s a goer or not?

    CATHERINE KING: They haven’t. That advice has not been provided to me yet, no.

    PAUL CULLIVER: Okay. We’re one week away from the Federal Budget. Might we see something in that?

    CATHERINE KING: Again, we’ll make investment decisions when we’ve got that advice. I’m not going to push Infrastructure Australia to how– the timeline of their job. They will– it’s a big piece of work, so they’ll be doing their analysis of it. They’ll provide advice to the Government, and then we’ll make our decisions about what the next phase of it will be. But really, it’s gone through the sort of exploratory stage. It will then have to go into the development stage, which again, is getting all of the planning approvals to do the work. And we’ll have some further announcements to make about that in due course.

    PAUL CULLIVER: All right. We’re not too far away from a federal election. You’re not going to turn up in the Hunter during a federal election with the Prime Minister and say, we’re building high speed rail?

    CATHERINE KING: Nice try, nice try. We’re very committed to high speed rail. And the Prime Minister has been talking about it for a long period of time. We’re serious about getting it done properly, making sure that we’ve got all of the information we need to be able to make those investment decisions. But also, if anything I’ve learnt from this job in the last three years in Inland Rail in particular, when you look at the report into Inland Rail, is don’t start making investment decisions when you don’t know how much it’s going to cost and you haven’t got that planning work done. So actually getting planning approvals will really be the next most important phase for high speed rail.

    PAUL CULLIVER: All right, if I can just ask you about an idea that’s come from the Coalition – Peter Dutton has been talking about proposing a referendum to change the Constitution to allow the Government to deport dual citizens convicted of serious crimes. What do you think of this idea?

    CATHERINE KING: I think it’s just yet another thought bubble from him. I don’t think he’s thought it through. When he wants to take the country to a referendum on decisions that– like, really? It just seems madness to me. I think it’s a thought bubble, and I reckon you’ll see him walk away– crab walk away from it in the next few days or so. It’s been a bit of a pattern from him. I think we’re supposed to also be having another referendum on indigenous representation as well, according to him, but he hasn’t said much about that. He’s promised we were going to do that as well. So let’s see, let’s see.

    PAUL CULLIVER: You don’t think it’s a power that the Australian Government should have?

    CATHERINE KING: I think it’s a thought bubble from Peter Dutton. I think that’s what it is.

    PAUL CULLIVER: All right, Minister, thanks for your time today.

    CATHERINE KING: Thanks very much.

    PAUL CULLIVER: Catherine King, the Federal Minister for Infrastructure and Transport, in the region today to announce that the Muswellbrook Bypass is getting brought forward by about 12 months.

    MIL OSI News –

  • MIL-OSI Australia: 2HD Breakfast, Paul King

    Source: Australian Ministers for Regional Development

    RICHARD KING: I did mention I received a– hang on, where is it now. Yep, the Minister for Infrastructure, Transport, Regional Development and Local Government in our neck of the woods this morning. It’s an announcement about funding for a new Cessnock bypass and Muswellbrook bypass. In fact, the Minister is on the line now. Good morning, Minister.

    CATHERINE KING: Good morning Richard, how are you?

    RICHARD KING: Good, thank you. We had a little bit of confusion there. We’ve had phone calls and text messages flying all over the place. But yeah, welcome back to our area. And look, I mentioned earlier when I said I was hopefully going to be speaking to you this morning. I get a lot of calls from people early in the morning heading up to the mines, et cetera, working in the Hunter Valley. I know– in fact, my son who’s an engineer is working on the Singleton bypass. But you’ve got some good news re a couple more bypasses that are going to be happening as well. Can you tell us about that?

    CATHERINE KING: Yeah. It’s actually three weeks ago I was up having a look at the progress on the Singleton bypass, and it’s really coming along well. But today we’re announcing– because that work is going so well, it’s meant that we’ve been able to bring the funding forward for starting the work early on the Muswellbrook bypass. That’s a really important 9.3 kilometres of road. It’ll take about 13,000 to 20,000 cars per day out of the main streets of Muswellbrook. That early money that we’re bringing forward means they can start doing some of the early work to get the site all ready for construction.

    So, that’s one of the announcements we’re making today. And of course, just making sure that we continue to plan for the future given the growth that we’re seeing throughout the Hunter, given people have discovered the secret of what a beautiful part of the world it is, and are wanting to move here. We’re seeing increasing numbers of housing development, and that’s also meant that for Cessnock, that has meant that trying to get some congestion out of there is going to be important. So, we’re putting in $5 million today to kick start the planning process to look at a future bypass for the town of Cessnock.

    RICHARD KING: We keep hearing about major infrastructure projects. They’re a huge blowout. Just re: Singleton, is that on track sort of budget-wise and time scale-wise, Minister?

    CATHERINE KING: Absolutely, as far as I understand it. Obviously, the people delivering the projects are the New South Wales Government. I was on site with Jenny Aitchison on the day three weeks ago, and that project is looking very good. As far as I’m aware, there haven’t been cost blow-outs on that project, which is great to hear. It was great to see some of the workers out there. Obviously, it’s a really important project for the region, and good to see that progress is being made.

    RICHARD KING: And look, while we’re talking about infrastructure projects, the extension of the M1, I mean, every time we have holidays or long weekends and even Friday afternoons, the people heading south, either up to Port Stephens or further north, there’s always a bottleneck here. We’ve had the widening of– in fact, it’s right in front of where I am at Sandgate. That widening process has been going on for a long time. I believe that should be finished next year. But the M1 extension, I think that’s a couple of years away at this stage, am I…

    CATHERINE KING: [Talks over] Yeah. Well one of one the issues we’ve obviously had– and you can see it all around, is there’s a huge amount of road construction happening at the moment, and that means that there’s been some capacity constraints in terms of these projects. So, trying to make sure we sequence them in a way that keeps fabulous construction workforce working, but also then doesn’t mean that we just don’t have the resources to be able to deliver these projects. So, you can see from whether it’s Hexham, Raymond Terrace, the Singleton bypass, now being able to bring forward the Muswellbrook bypass and start the work to plan the Cessnock bypass and then other projects that are on the schedule for delivery with New South Wales. Really, we’ve got to make sure that we keep that capacity and pipeline of projects going, but we also don’t stretch the system to such an extent that then costs flow out, or we have to import workers from elsewhere.

    RICHARD KING: 8:09 on Tuesday, my guest, the Minister for Infrastructure, Transport, Regional Development and Local Government – you’re wearing a number of hats here – Catherine King. Look, a hot topic at the moment, the financial situation of Newcastle Airport. I don’t know how much of this comes under your umbrella, but I know there was a fair amount of federal money that’s gone into the extension of the runway there. Under construction at the moment is the new international airport, but people are concerned about the liability for ratepayers of both Newcastle and Port Stephens, who jointly own the councils, jointly own those airports. How much oversight do you have on what’s happening at Newcastle Airport Minister?

    CATHERINE KING: Well, I don’t have a great deal of oversight into the financials of the airport. Obviously, it is run and managed by the two local councils, and so I don’t have line of sight of the management of the airport. We’ve certainly put grant money in for upgrading the infrastructure, which then enables an expansion of the airport, which then also enables you to have more passengers coming in if you have international flights coming in, and that obviously increases the capacity of the airport for revenue. But they are questions that you’d really need to direct to the local government area.

    RICHARD KING: Yeah, it’s a very hot topic. The Lord Mayor of Newcastle, who I spoke to yesterday, has requested an inquiry into that. So, we’ll then no doubt hear more from the New South Wales Government on that particular one.

    Another hot issue is obviously the budget which will be out next week. Jim Chalmers, our Treasurer, announced it will be a deficit budget next week after we’ve had a number of surpluses, and deficit budgets, I think, are predicted for the next decade. Will that have much of an impact on all these major infrastructure projects, Minister?

    CATHERINE KING: Well, we’ve got a $125 billion infrastructure pipeline that is built into the budget over the next decade. And so when projects come off, new projects come on. So that’s sort of sat and is pretty stable. We’ve increased in fact the budget from the Commonwealth for infrastructure funding. So I don’t anticipate that we’ll see– we’ll see some good news– we will see good news for new infrastructure projects in the budget. But let’s wait till budget night to see what all of the broader figures are. Obviously, I think what the Treasurer, Jim, was indicating that, you know, it would be no surprise to people that we have an event like Cyclone Alfred, that there is some impact on the budget in relation to that, whether it be in terms of claims for fixing roads, rail and but also the significant economic loss many of the businesses and individuals have experienced up there as well. That will, of course, have an impact, as every single disaster does each time on the budget, and he was just reporting that.

    RICHARD KING: Peter Dutton yesterday has called for the deregistration of the CFMEU following these fresh allegations of violence, particularly directed at women and the influence of organised crime and corruption within the CFMEU. And he’s calling for legislation changes, et cetera. I know Murray Watt said it’s reckless. Do you have a view on this?

    CATHERINE KING: Yeah, I do. I mean, a couple of things. I mean, the first thing, none of us tolerate this sort of activity in any workplace. It’s criminal activity. And we need to make sure that every– you know, from an infrastructure point of view, I want to make sure every assurance that every single dollar of taxpayer money is going to pay workers properly to make sure we actually deliver that infrastructure. And so, I’ve sought assurances from the states and territories that they’ve got the right processes in place to check that all the time.

    But in terms of the call from Peter Dutton yesterday, I mean, this is a bloke who has failed to clean up, you know, this– deal with these issues when they were last in government. Now thinks that deregistration– which basically means the union will still operate, they just won’t be registered and they won’t have any oversight. So, what we’ve done is put it into administration so that the people who we were concerned about have no part in running the organisation. You’ll see with deregistration, they will be back in pretty quickly. It means the union still can go to Fair Work Australia, the unions still exist. It just won’t be registered and it won’t have that regulatory oversight. So I’m not sure how that’s actually going to clean up or fix it.

    And then secondly, you know, we have already very strong laws in place that allow the sorts of things– you know, again, we’ve gone and looked to America to see what the Americans can tell us. We’re Australia and we know pretty much what our laws say. We’ve already got really strong laws that allow us to go after– you know, the criminal syndicates that are behind some of these activities. The issue is we’ve got to back in the administrator to actually do the job properly. Some of this stuff has come to light because it is in administration. And there is– you know, thorough audits and investigations being undertaken. And, you know, I welcome that the Victorian Government’s now, you know, increased money for the taskforce or increased the focus of the taskforce to try and deal with these issues. But you know, let’s be clear, none of us have any tolerance for this. We’re working our way through how we actually fix this and that will take some time.

    RICHARD KING: Appreciate your time this morning, Minister, and enjoy your time in the Hunter Valley I’m sure you will.

    CATHERINE KING: [Laughs] I always do. Thank you so much.

    RICHARD KING: Good on you. Thank you. Minister for Infrastructure, Transport, Regional Development and Local Government, that’s a mouthful. Catherine King on 2HD.

    MIL OSI News –

  • MIL-OSI New Zealand: Comments following bilateral with US Secretary of State Rubio

    Source: New Zealand Government

    [Comments following the bilateral meeting with United States Secretary of State, Marco Rubio; United States State Department, Washington D.C.]
    * We’re very pleased with our meeting with Secretary of State Marco Rubio this afternoon. * We came here to listen to the new Administration and to be clear about what is important to New Zealand. Today, we enjoyed substantive and productive discussions with Secretary Rubio across a broad range of issues. * There’s a lot happening in the Indo-Pacific, and indeed our world. It’s a seriously valuable time to be here in Washington DC. * Secretary Rubio has had a long career in foreign policy and it was helpful to re-connect with him and hear his insights into what is going on.* This has been a very successful visit to Washington DC, meeting with a wide range of representatives of the Trump Administration.* We agreed that we should continue to work together for a free, open and prosperous Indo-Pacific. And we talked about all the areas where New Zealand and the United States have interests in common. These include the prosperity and stability of the Pacific Islands, space and technology, as well as Antarctica where our cooperation has been deep and longstanding. * This visit has provided the starting point for considering what constructive cooperation between New Zealand and the United States might look like in the months and years ahead. * This is just the first step. We will now go back to New Zealand to discuss with Cabinet colleagues what we have learned here in Washington DC.* With Secretary Rubio, we have agreed to remain in close contact in the months ahead. We will no doubt see each other again later this year, whether at a regional meeting or back here in DC.
     
     

    MIL OSI New Zealand News –

  • MIL-OSI USA: Grassley, Colleagues Urge Trump Administration to Support American Families Adopting Children from China

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Sen. Chuck Grassley (R-Iowa), a member of the Congressional Coalition on Adoption (CCA), joined CCA co-chairs Sens. Amy Klobuchar (D-Minn.), Kevin Cramer (R-N.D.), along with Reps. Robert Aderholt (R-Ala.) and Danny Davis (D-Ill.) in a letter urging President Trump to advocate for families impacted by China’s termination of its intercountry adoption program.
    “We write to you on behalf of hundreds of children and American families who have been devastated by the People’s Republic of China’s decision to halt its intercountry adoption program. We request that you act in the best interest of these children and engage the Chinese government to finalize these pending adoption cases,” the members wrote.
    “The sudden termination of China’s adoption program in August 2024 only exacerbated our concern for these children’s well-being. Many of these children have special health care needs, and some will soon age out of care systems without the support of a permanent family.… We urge you to elevate this engagement and press the Chinese government to finalize pending adoption cases so these children may finally be united with their adoptive families in the United States,” the members continued.
    In the Senate, the letter was signed by Sens. Tammy Baldwin (D-Wis.), Marsha Blackburn (R-Tenn.), Katie Britt (R-Ala.), Maria Cantwell (D-Wash.), Shelley Moore Capito (R-W.Va.), Bill Cassidy (R-La.), Susan Collins (R-Maine), Ted Cruz (R-Texas), John Curtis (R-Utah), Tammy Duckworth (D-Ill.), Joni Ernst (R-Iowa), John Fetterman (D-Penn.), Kirsten Gillibrand (D-N.Y.), John Hoeven (R-N.D.), Ron Johnson (R-Wis.), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Angus King (I-Maine), James Lankford (R-Okla.), Ben Ray Luján (D-N.M.), Cynthia Lummis (R-Wyo.), Jeff Merkley (D-Ore.), Bernie Moreno (R-Ohio), Lisa Murkowski (R-Ala.), Patty Murray (D-Wash.), Alex Padilla (D-Calif.), Rand Paul (R-Ky.), Mike Rounds (R-S.D.), Adam Schiff (D-Calif.), Eric Schmitt (R-Mo.), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn), Dan Sullivan (R-Alaska), John Thune (R-S.D.), Thom Tillis (R-N.C.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Roger Wicker (R-Miss.), Ron Wyden (D-Ore.) and Todd Young (R-Ind.).
    In the House, the letter was signed by Reps. Brian Babin (R-Texas), Don Bacon (R-Neb.), Andy Biggs (R-Ariz.) Vern Buchanan (R-Fla.), Tim Burchett (R-Tenn.), Kat Cammack (R-Fla.), Mike Carey (R-Ohio), Dan Crenshaw (R-Texas), Suzan DelBene (D-Wash.), Scott DesJarlais (R-Tenn.), Julie Fedorchak (R-N.D.), Randy Feenstra (R-Iowa), Brian Fitzpatrick (R-Penn.), Charles Fleischmann (R-Tenn.), Tony Gonzales (R-Texas), Sam Graves (R-Mo.), Mark Green (R-Tenn.), H. Morgan Griffith (R-Va.), Glenn Grothman (R-Wis.), Brett Guthrie (R-Ky.), Abraham Hamadeh (R-Ariz.), Diana Harshbarger (R-Tenn.), Ashley Hinson (R-IA), Erin Houchin (R-Ind.), Julie Johnson (D-Texas), Thomas Kean (R-N.J.), Raja Krishnamoorthi (D-Ill.), Darin LaHood (R-Ill.), Julia Letlow (R-La.), Barry Loudermilk (R-Ga.), Richard McCormick (R-Ga.), Morgan McGarvey (D-Ky.), Mark Messmer (R-Ind.), Carol Miller (R-W.Va.), Ralph Norman (R-S.C.), Zachary Nunn (R-Iowa), Andrew Ogles (R-Tenn.), Bob Onder (R-Mo.), Gary Palmer (R-Ala.), Brittany Pettersen (D-Colo.), August Pfluger (R-Texas), Jamie Raskin (D-Md.), John Rutherford (R-Fla.), Hillary Scholten (D-Mich.), Keith Self (R-Texas), Jefferson Shreve (Ind.), Adam Smith (D-Wash.), Lloyd Smucker (R-Penn.), Eric Sorensen (D-Ill.), Greg Stanton (D-Ariz.), Pete Stauber (R-Minn.), Haley Stevens (D-Wis.), Eric Swalwell (D-Calif.), William Timmons (R-S.C.), Jill Tokuda (D-Hawaii), Paul Tonko (D-N.Y.) and Daniel Webster (R-Fla.).
    Text of the letter to President Trump follows:
    Dear President Trump:
    We write to you on behalf of hundreds of children and American families who have been devastated by the People’s Republic of China’s decision to halt its intercountry adoption program. We request that you act in the best interest of these children and engage the Chinese government to finalize these pending adoption cases.
    As members of the Congressional Coalition on Adoption and other Members of Congress who share these concerns, the safety of adopted children and hundreds of would-be adoptees is our top priority. The sudden termination of China’s adoption program in August 2024 only exacerbated our concern for these children’s well-being. Many of these children have special health care needs, and some will soon age out of care systems without the support of a permanent family. It is particularly critical that these children have access to the care and support that they need — which hundreds of American families approved for adoption are willing to provide.
    We understand that the State Department is working on behalf of these families and seeking clarity on the Chinese government’s decision. We urge you to elevate this engagement and press the Chinese government to finalize pending adoption cases so these children may finally be united with their adoptive families in the United States.
    Thank you for your attention to this important matter. We are prepared to work closely with you to ensure these children are welcomed into safe and stable homes.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Files Civil Forfeiture Complaint Against Aircraft Used by Nicolás Maduro Moros in Violation of U.S. Sanctions and Export Control Laws

    Source: US State of California

    Note: View the forfeiture complaint.

    The United States today filed a civil forfeiture complaint in the Southern District of Florida against a Dassault Falcon 900 EX aircraft, bearing tail number T7-ESPRT, which was smuggled from the United States under false pretenses and operated for the benefit of Nicolás Maduro Moros (Maduro) and his representatives in the Bolivarian Republic of Venezuela (the Maduro Regime) in violation of U.S. sanctions and export control laws. The aircraft was seized last year in the Dominican Republic at the request of the United States.

    Today’s filing alleges that the Dassault Falcon 900 EX aircraft was purchased and maintained in violation of U.S. sanctions against Maduro and the Maduro Regime. According to the complaint, the aircraft is forfeitable based on violations of U.S. law, including the International Emergency Economic Powers Act (IEEPA) and money laundering violations.

    Since 2014, the United States has imposed sanctions against targeted individuals, entities, and sectors in Venezuela to address the increasing political oppression and corruption in Venezuela by the Maduro Regime. On March 8, 2015, the President found that the situation in Venezuela constituted an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States and declared a national emergency pursuant to IEEPA to deal with that threat. See Executive Order (E.O.) 13692.

    In 2017, 2018, and 2019, President Trump took additional steps regarding the national emergency declared in E.O. 13692. On Aug. 5, 2019, the President issued E.O. 13884 “in light of the continued usurpation of power by Nicolás Maduro and persons affiliated with him, as well as human rights abuses, including arbitrary or unlawful arrest and detention of Venezuelan citizens, interference with freedom of expression, including for members of the media, and ongoing attempts to undermine Interim President Juan Guaidó and the Venezuelan National Assembly’s exercise of legitimate authority in Venezuela.”

    E.O. 13884 prohibits the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to the order, including the Government of Venezuela and the Maduro Regime; the receipt of any contribution or provision of funds, goods, or services from any such person; and, any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions set forth in the order.

    The complaint alleges that on or about Jan. 23, 2023, a company purportedly based in the Caribbean island country of St. Vincent and the Grenadines (Foreign Company 1) entered into a contract to purchase the Dassault Falcon 900 EX aircraft from a company in Florida for $13,250,000. The complaint further alleges that the individual in charge of purchasing the aircraft purportedly on behalf of Foreign Company 1 was a Venezuelan national (Foreign Principal 1), who concealed the fact that he was representing or associated with the Maduro Regime.

    The complaint further alleges that Foreign Company 1 merely acted as a nominee owner of the Dassault Falcon 900 EX aircraft as it was formed shortly before the purchase, in June 2022, and was struck from the register of St. Vincent companies for failure to pay annual fees two years later, in May 2024.

    The complaint further alleges that funds used to purchase the Dassault Falcon 900EX aircraft were sent via multiple wire transfers from different countries, including Malaysia, using both U.S. dollars and euros, and that Foreign Company 1 used an email address with a “.ae” domain from the United Arab Emirates to correspond with the Florida-based seller even though Foreign Company 1’s representatives allegedly had Spanish names and some of the emails contained the phrase “Enviado desde mi iPhone,” or Spanish for “Sent from my iPhone.”

    The complaint further alleges that the Dassault Falcon 900 EX aircraft was flown from the United States to St. Vincent on or about April 3, 2023, and approximately five hours later, it departed for Caracas, Venezuela, piloted by two members of the Venezuelan Presidential Honor Guard, and accompanied by a second aircraft that operates out of a Venezuelan military base.

    The complaint further alleges that, since May 2023, the Dassault Falcon 900 EX aircraft has flown to and from Venezuela at least 21 times and Maduro has been seen traveling with the aircraft on official visits to other countries, including for a December 2023 prisoner exchange with the United States.

    As alleged, in March 2024, the Dassault Falcon 900 EX aircraft was flown to the Dominican Republic for service and maintenance where Foreign Company 1 held itself out to be the owner, concealing from the Dominican-based jet maintenance company that the aircraft had been purchased and operated for benefit of the Maduro Regime.

    The complaint further alleges that on at least two occasions in May 2024, Foreign Principal 1, purportedly acting on behalf of Foreign Company 1, and other Venezuelan individuals, including military personnel, attempted to retrieve the Dassault Falcon aircraft from the Dominican Republic.

    Following the attempts by the Venezuelan individuals to retrieve the Dassault Falcon 900 EX aircraft, the U.S. government obtained a seizure warrant and requested that the Dominican Republic seize, detain, and transfer the Dassault Falcon aircraft. Pursuant to U.S. request, the aircraft was transported back to the United States on Sept. 2, 2024. That same day, the Maduro Regime issued a statement admitting the Dassault Falcon aircraft “has been used by” Maduro.

    A second Dassault Falcon aircraft identified by the Treasury Department’s Office of Foreign Assets Control (OFAC) as blocked property of Petroleos de Venezuela, S.A. (PdVSA), the sanctioned Venezuelan state-owned oil and natural-gas company, and illegally serviced and maintained in violation of U.S. sanctions, also was seized in the Dominican Republic at the request of the United States government on Feb. 6, 2025.

    The Department of Commerce Bureau of Industry and Security Miami Field Office is investigating the case, along with the Department of Homeland Security, Homeland Security Investigations (HSI) Santo Domingo.

    Assistant U.S. Attorneys Joshua Paster and Jorge Delgado for the Southern District of Florida and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are handling the matter.

    The Justice Department’s Office of International Affairs and HSI El Dorado Task Force Miami provided significant assistance in working with authorities in the Dominican Republic. The United States thanks the Dominican Republic for its assistance in this matter.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Raksha Mantri meets Netherlands Defence Minister in New Delhi

    Source: Government of India

    Raksha Mantri meets Netherlands Defence Minister in New Delhi

    Both countries explore possibilities of defence industrial collaboration & working together in domains like AI

    Posted On: 18 MAR 2025 4:44PM by PIB Delhi

    Raksha Mantri Shri Rajnath Singh held a meeting with the Defence Minister of the Netherlands Mr Ruben Brekelmans in New Delhi on March 18, 2025. They discussed elevating the bilateral cooperation in areas like defence, security, information exchanges, Indo-Pacific and new & emerging technologies.

    The two Ministers explored the possibilities of collaboration in shipbuilding, equipment and space sectors, optimising the complementariness in skills, technology & scale of the two countries. They also discussed working together in domains like Artificial Intelligence and related technologies, besides connecting the respective defence technology research institutes and organisations.

    In a post on X after the meeting, Raksha Mantri stated that India looks forward to further elevating its defence partnership with the Netherlands.

    *****

    VK/Savvy

    (Release ID: 2112311) Visitor Counter : 51

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Average price reduction due to fixation or refixation of prices under National List of Essential Medicines, 2022 resulted in estimated annual savings of approximately ₹3,788 crore to patients

    Source: Government of India

    Average price reduction due to fixation or refixation of prices under National List of Essential Medicines, 2022 resulted in estimated annual savings of approximately ₹3,788 crore to patients

    Under Pradhan Mantri Bhartiya Janaushadhi Pariyojana quality medicines are offered through Jan Aushadhi Kendras at 50% to 80% lower rates than the prices of branded medicines available in the market

    Under the Affordable Medicines and Reliable Implants for Treatment (AMRIT) initiative, medicines, implants, surgical disposables and other consumables are provided at significant discounts of up to 50% of market rates through AMRIT Pharmacy stores

    Posted On: 18 MAR 2025 4:37PM by PIB Delhi

    The Ministry of Health and Family Welfare notifies the National List of Essential Medicines (NLEM), which is incorporated as Schedule-I to the Drugs (Prices Control) Order, 2013 (DPCO, 2013). The National Pharmaceutical Pricing Authority (NPPA) under the Department of Pharmaceuticals (DoP) fixes ceiling prices of these scheduled medicines in accordance with the provisions of DPCO, 2013. All manufacturers and marketers of scheduled medicines are required to sell their products within the ceiling price (plus applicable Goods and Service Tax) fixed by the NPPA. Further, NPPA fixes the retail price of new drugs, as defined in DPCO, 2013. For applicant manufacturers and their marketers, who too are required to sell the new drug within the price notified by NPPA. In respect of non-scheduled formulations, manufacturers are required to not increase the Maximum Retail Price of the drugs launched by them by more than 10% during the preceding 12 months. As on 12.3.2025, ceiling prices of 928 scheduled formulations and retail prices of over 3,200 new drugs stood fixed by NPPA. The average price reduction due to fixation or refixation  of prices under NLEM, 2022 was about 17%, resulting in estimated annual savings of approximately ₹3,788 crore to patients. Details of prices fixed by NPPA are available on its website (www.nppaindia.nic.in ).

    Besides price regulation, Government has also enabled access to affordable essential medicines through Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), under which quality medicines are offered through Jan Aushadhi Kendras (JAKs) at rates that are typically 50% to 80% lower than the prices of branded medicines available in the market. In addition, under the Affordable Medicines and Reliable Implants for Treatment (AMRIT) initiative of the Department of Health and Family Welfare, medicines for the treatment of cancer, cardiovascular and other diseases, implants, surgical disposables and other consumables etc. are provided at significant discounts of up to 50% of market rates through AMRIT Pharmacy stores set up in some hospitals/institutions. Also, to ensure availability of essential drugs and reduce out-of-pocket expenditure of patients visiting public health facilities, Government has rolled out the Free Drugs Service Initiative under the National Health Mission under which  financial support is provided to State and Union Territory Governments for 106 drugs at the Sub-Health Centre level, 172 drugs at the Primary Health Centre level, 300 drugs at the Community Health Centre level, 318 drugs at the Sub-District Health level and 381 drugs at the District Hospitals.

    Currently, 2,047 medicines and 300 surgicals, medical consumables and devices are under the PMBJP scheme product basket, covering all major therapeutic groups, such as cardiovascular, anti-cancers, anti-diabetic, anti-infectives, anti-allergic and gastro-intestinal medicines and nutraceuticals etc. The Department of Pharmaceuticals has set the target to increase the product basket to 2,100 medicines and 310 surgicals, medical consumables and devices by 31.3.2025.

    The prices of both scheduled and non-scheduled drugs are monitored by NPPA. Monitoring activities are based on references from State/UT Price Monitoring Resource Units (PMRUs), State Drugs Controllers (SDCs), market samples, market-based databases and complaints received through the Pharma Jan Samadhan (PJS) portal, Centralised Public Grievance Redress and Monitoring System (CPGRAMS)  and other reliable sources. Instances of overcharging are dealt with by NPPA under relevant provisions of DPCO, 2013.

    This information was given by the Union Minister of State for Chemicals and Fertilizers, Smt. Anupriya Patel in Rajya Sabha in written reply to a question today.

    *****

    MV/AKS

    (Release ID: 2112308) Visitor Counter : 62

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Padilla, Schiff Condemn Trump Administration’s Gutting of Education Department

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)
    Senators to Education Secretary: “We will not stand by as you attempt to turn back the clock on education in this country”
    WASHINGTON, D.C. — As President Trump and Elon Musk attack public education in America by closing offices and laying off 1,300 workers at the Department of Education, Senators Alex Padilla and Adam Schiff (both D-Calif.) joined 36 Democratic colleagues in expressing outrage at the Administration’s reckless and illegal firing of half of the workforce at the U.S. Department of Education, which will cripple America’s education system and impact students in California and across the country.
    California’s public education system, supported by the Department of Education, is the largest in the country. There are about 10,000 public schools in California serving over 5.8 million students. If the Department is dismantled, the nearly $8 billion in federal funding that California receives annually to support low-income students, students with disabilities, and more could be at risk. California also has the most extensive higher education system in the nation, including the largest number of Pell Grant recipients who rely on Education Department staff to help them attend college. Abolishing the Department of Education would have devastating impacts on California schools, students, faculty, communities, and the economy.
    “At a time of massive income and wealth inequality, when 60 percent of people live paycheck to paycheck, millions of Americans cannot afford higher education, and 40 percent of our nation’s 4th graders and 33 percent of 8th graders read below basic proficiency, it is a national disgrace that the Trump Administration is attempting to illegally abolish the Department of Education and thus, undermine a high-quality education for our students,” wrote the Senators.
    The Senators noted that these layoffs and closures will have devastating effects on the nation’s students, including by limiting the Department’s ability to guarantee that federal funding reaches communities that rely on it, ensure students can access federal financial aid, and uphold students’ civil rights. Not even 24 hours after the staff reductions were announced, the Free Application for Federal Student Aid (FAFSA) experienced a glitch that prevented students and families from accessing the application. Education Department workers responsible for fixing it had reportedly been fired.
    “[The layoffs] would also mean decreased enforcement of rights for children with disabilities and fewer resources for students from low-income backgrounds and children with disabilities, like the 26 million students from low-income backgrounds and over 100,000 public schools in every community across this country that rely on Title I funding; the 7.5 million students with disabilities who benefit under the Individuals with Disabilities Education Act, and the 7 million students who receive Pell grants to help access higher education,” continued the Senators.
    “We will not stand by as you attempt to turn back the clock on education in this country through gutting the Department of Education,” concluded the Senators. “Our nation’s public schools, colleges, and universities are preparing the next generation of America’s leaders—we must take steps to strengthen education in this country, not take a wrecking ball to the agency that exists to do so.”
    California, 19 other states, and Washington, D.C. have sued the Trump Administration for these reckless cuts and are pushing a federal judge to reinstate the 1,300 fired Education Department workers.
    The letter to Secretary of Education Linda McMahon was led by Senator Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions. In addition to Padilla, Schiff, and Sanders, the letter was also signed by Senators Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Maria Cantwell (D-Wash.), Chris Coons (D-Del.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), Kirsten Gillibrand (D-N.Y.), Ruben Gallego (D-Ariz.), Mazie Hirono (D-Hawaii), Tim Kaine (D-Va.), Andy Kim (D-N.J.), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Edward J. Markey (D-Mass.), Jeff Merkley (D-Ore.), Chris Murphy (D-Conn.), Patty Murray (D-Wash.), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Jacky Rosen (D-Nev.), Brian Schatz (D-Hawaii), Minority Leader Chuck Schumer (D-N.Y.), Jeanne Shaheen (D-N.H.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).
    Last month, Senator Padilla blasted President Trump’s nomination of Linda McMahon to lead the Department of Education, underscoring the enormous threat the Trump Administration poses to the education of millions of students in California and across the country. Senator Padilla joined Senator Warren and his Senate colleagues in launching a probe into reports that Elon Musk’s Department of Government Efficiency (DOGE) infiltrated the Department of Education and gained access to federal student loan data, which includes millions of borrowers’ personal information. The Senators sent a follow-up letter raising concerns about the Department of Education’s “woefully inadequate,” “misleading” response to their inquiry.
    Full text of the letter is available here and below:
    Dear Secretary McMahon:
    We write to express our outrage that you, President Trump, and unelected billionaire Elon Musk are taking steps to abolish the Department of Education (“the Department”) and eliminate educational opportunities for millions of students across the country, something that 61 percent of Americans oppose. This most recently includes a 50 percent cut to the workforce, resulting in the termination of over 1,300 workers at the Department of Education, as well as the abrupt, last minute closure of all Department of Education buildings beginning at 6:00 PM on the same day that these terminations were announced.
    At a time of massive income and wealth inequality, when 60 percent of people live paycheck to paycheck, millions of Americans cannot afford higher education, and 40 percent of our nation’s 4th graders and 33 percent of 8th graders read below basic proficiency,3 it is a national disgrace that the Trump Administration is attempting to illegally abolish the Department of Education and thus, undermine a high-quality education for our students.
    As Secretary of Education, you are the foremost public servant responsible for carrying out the Department of Education’s mission to promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access. Despite that responsibility, your first act as Secretary was announcing it was your “final mission” to dismantle the Department of Education, fire the public servants who keep it running, and terminate opportunities for students in public schools, colleges, and universities across the country.
    The false claims of financial savings by dismantling the Department of Education so that billionaires can receive huge tax breaks is bad public policy and morally reprehensible. The billionaires that are in charge of our federal government right now will not be harmed by these egregious attacks: wealthy families sending their children to elite, private schools will still be able to get a quality education even if every public school disappears in this country. But for working-class families, high-quality public education is an opportunity they rely on for their children to have a path to do well in life.
    Defunding federal support for public education would result in either higher property taxes or decreased funding for public schools, including in rural areas. It would also mean decreased enforcement of rights for children with disabilities and fewer resources for students from low-income backgrounds and children with disabilities, like the 26 million students from low-income backgrounds and over 100,000 public schools in every community across this country that rely on Title I funding; the 7.5 million students with disabilities who benefit under the Individuals with Disabilities Education Act, and the 7 million students who receive Pell grants to help access higher education.
    It is undeniable that terminating 50 percent of the Department of Education’s workers will have harmful effects on public education in this country. The Department of Education already has the smallest staff of the 15 Cabinet agencies despite having the third largest discretionary budget, behind only the Departments of Defense and Health and Human Services. These reductions will have devastating impacts on our nation’s students and we are deeply concerned that without staff, the Department will be unable to fulfill critical functions, such as ensuring students can access federal financial aid, upholding students’ civil rights, and guaranteeing that federal funding reaches communities promptly and is well-spent. Not even 24 hours after the staff reductions were announced, the Free Application for Federal Financial Aid (FAFSA) experienced a glitch that prevented students and families from accessing the application, but the staff normally responsible for fixing those errors had reportedly been cut. The Department has also reportedly shuttered several regional offices responsible for investigating potential violations of students’ civil rights in local schools. We are deeply alarmed that cases will go uninvestigated and that students will be left in unsafe learning environments as a result.
    The Trump Administration also says it wants to ‘return education back to the states.’ Let us be very clear—public education is already run by states and local school boards. While just 11 percent of public education is federally funded, the Department of Education has a necessary and irreplaceable responsibility to implement federal laws that ensure equal opportunity for all children in this country. These laws guarantee fundamental protections, such as ensuring that children with disabilities receive a free appropriate public education in the least restrictive environment, that students from low-income backgrounds and students of color will not be disproportionately taught by less experienced and qualified teachers, and that parents will receive information about their child’s academic achievement.
    Without the Department of Education, there is no guarantee that states would uphold students’ civil and educational rights. Let us not forget that it was federal troops who protected the “Little Rock Nine” from a violent mob of segregationists when they integrated Central High School in the wake of the Brown v. Board U.S. Supreme Court decision. Not only was the state not going to provide this protection, but it was then-Arkansas Governor Orval Faubus who ordered the state’s National Guard to bar Black students from entering the school. Even today, the Department of Education’s Office for Civil Rights regularly investigates and resolves complaints of student discrimination related to students’ race, color, national origin, sex, age, or disability status.
    We will not stand by as you attempt to turn back the clock on education in this country through gutting the Department of Education. Our nation’s public schools, colleges, and universities are preparing the next generation of America’s leaders—we must take steps to strengthen education in this country, not take a wrecking ball to the agency that exists to do so.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI Europe: Missions – Mission to Kyrgyzstan, 25-27 February 2025 – 25-02-2025 – Subcommittee on Human Rights

    Source: European Parliament

    A five-member strong delegation visited Kyrgyzstan from 25 to 27 February 2025 with the aim at conducting a constructive dialogue with the Kyrgyz authorities and a series of international and local stakeholders ahead of the consent procedure of the EU-Kyrgyzstan European Enhanced Partnership and Cooperation Agreement, as the latter defines the respect for human rights, fundamental values, the rule of law and democratic standards as an essential element of this agreement.

    The DROI mission visited the country in a politically important year for Kyrgyzstan and the relations between the EU and Central Asian countries, given that the 1st EU-Central Asia Summit of Heads of State and government will take place in Samarkand on 4-5 April 2025.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Strengthening age verification through app stores and operating system providers – E-001010/2025

    Source: European Parliament

    Question for written answer  E-001010/2025
    to the Commission
    Rule 144
    Miriam Lexmann (PPE)

    The Digital Services Act (DSA) sets out clear risk-based obligations to protect minors online. However, there is currently no clarity on when and where age verification (AV) should be used. App stores and operating systems are uniquely positioned to provide a unified, privacy-preserving, secure and efficient solution by verifying users’ ages at device or app store level and sharing an assured age signal with third-party apps. Such a system would prevent repetitive age checks, restrict underage users from accessing inappropriate content and better align with the requirements of the DSA and the Digital Markets Act.

    In this context:

    • 1.Has the Commission thought about supporting app store or device level AV solutions, such as those that exist in other jurisdictions such as Singapore and the US states of South Dakota and Utah?
    • 2.Will the Commission acknowledge in the upcoming guidelines on Article 28 of the DSA that app stores, as gateways to multiple services, pose a higher level of risk compared to the potential risks posed by individual apps, and that AV at this level might be necessary to mitigate that risk?
    • 3.Will the Commission acknowledge in the upcoming guidelines on Article 28 of the DSA that app stores, as very large online platforms and gatekeepers, have a special responsibility in the value chain to protect minors online?

    Submitted: 7.3.2025

    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: EU Fact Sheets – Pacific – 20-03-2024

    Source: European Parliament

    The EU’s relationship with the Pacific region has political, economic and development dimensions. The EU is the Pacific region’s second largest trading partner and in June 2018 negotiations were launched for comprehensive free trade agreements with Australia and New Zealand. It has a partnership with the 15 Pacific Independent Island Countries that centres on development, fisheries and climate change, and partnerships with the four Overseas Countries and Territories and the Pacific Islands Forum.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Products from Chinese-flagged tuna vessels caught with North Korean labour and authorised for export to the European Union – E-000935/2025

    Source: European Parliament

    Question for written answer  E-000935/2025/rev.1
    to the Commission
    Rule 144
    César Luena (S&D)

    The North Korean regime exports labour, often forced and unpaid, from a large part of its population to prop up the country’s economy and generate income that supposedly helps finance its nuclear programme. A key destination for this labour is China.

    The use of North Korean labour outside the country is prohibited by the United Nations Security Council. The European Union has a legal framework in place to prevent goods produced by North Koreans from entering its supply chains. However, recent investigations[1] have identified 12 Chinese-flagged tuna vessels using North Korean labour on board. Four of these vessels are authorised to export to the EU. The findings also show that North Korean crew have suffered serious abuse, with frequent transfers between vessels and stints at sea lasting for up to a decade.

    What is the Commission doing to investigate, trace and monitor products from Chinese-flagged tuna vessels caught with North Korean labour and authorised for export to the European Union?

    Submitted: 5.3.2025

    • [1] Report: ‘Trapped At Sea’, published by the Environmental Justice Foundation, https://ejfoundation.org/reports/trapped-at-sea-exposing-north-korean-forced-labour-on-chinas-indian-ocean-tuna-fleet.
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Team Europe provides nearly €60 million for digital connectivity in rural Central Asia

    Source: European Investment Bank

    EIB

    • A €34.4 million EU grant and a €25.45 million EIB Global loan will support access to broadband services through satellite connectivity in approximately 1 600 villages in Central Asia.
    • The financial package will enable the deployment of satellite terminal antennas connected to SES’ medium earth orbit satellite network.
    • This Team Europe initiative aims to empower approximately three million people in remote areas by providing fast and reliable internet access.

    EIB Global – the European Investment Bank’s global arm – and the European Commission have signed a financial package worth almost €60 million with SES, a Europe-based provider of satellite-enabled content and connectivity solutions.This initiative aims to deliver satellite connectivity to remote rural areas in Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan.

    Nearly half of the population in Central Asia does not have access to the internet. The project aims to reduce this figure by bringing broadband internet services to approximately 1 600 underserved villages across rural areas in the region. These communities currently have no access to broadband services, leaving millions without connection to the digital world. Through satellite technology, high-speed internet can be deployed in these remote areas, transforming the lives of an estimated three million people. This initiative will help to bridge the digital gap and also support Central Asia’s broader transition to a digital economy.

    “Beyond simply connecting people, connectivity infrastructures are pathways to education, healthcare and economic opportunities. This initiative is helping to address the digital divide and promoting global connectivity, which is a priority for EIB Global. This is an excellent example of cooperation under Team Europe for digital inclusion and human empowerment, and will also provide the European Union’s partners in Central Asia with know-how and expertise on secure and trusted digital connections,” said EIB Vice-President Kyriacos Kakouris, who oversees the Bank’s operations in Central Asia.

    This project is fully aligned with the European Union’s Global Gateway initiative, which promotes investment in secure and sustainable infrastructure to connect people and improve lives across the world. It serves as a key driver of the Team Europe initiative for digital connectivity in Central Asia.

    “The European Union and Central Asia are working together to improve the internet connection in the whole region. European technology and our Central Asian partners’ expertise can ensure that more people have access to fast and secure internet, supporting business growth, creating new jobs and improving living conditions in local communities. By investing in digital connectivity, we are bridging gaps, creating opportunities, and ensuring that Central Asia has the necessary resources to benefit fully from the digital economy,” said European Commissioner for International Partnerships Jozef Síkela.

    The project will leverage SES’s O3b mPOWER medium earth orbit satellite network expansion, which is partially financed by the EIB through a €125 million loan provided earlier this year. The satellite network expansion will facilitate the delivery of high-speed broadband services to these remote areas, ensuring reliable and scalable digital infrastructure.

    “Securing this combined EU grant and EIB Global loan demonstrates that SES’ financial foundation is solid and that it is trusted by European institutions to provide reliable satellite services. SES has already done great work on large-scale digital inclusion projects by investing in satellite systems that deliver seamless connectivity in the most remote parts of the world. We are looking forward to reaping the benefits of O3b mPOWER in Central Asia, accelerated by the European Investment Bank’s partial funding to expand our MEO satellites,” said Global Head of Enterprise and Cloud at SES Nadine Allen.

    Background information

    About EIB Global

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here.

    About SES

    SES has a bold vision to deliver amazing experiences everywhere on Earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a provider of global content and connectivity solutions, SES owns and operates a geosynchronous orbit fleet and medium earth orbit (GEO-MEO) constellation of satellites, offering a combination of global coverage and high-performance services. Using its intelligent, cloud-enabled network, SES delivers high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners around the world. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG). 

    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
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    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
    Download original
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
    Download original
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
    Download original

    MIL OSI Europe News –

  • MIL-OSI Security: U.S. Files Civil Forfeiture Complaint Against Aircraft Used by Nicolás Maduro Moros in Violation of U.S. Sanctions and Export Control Laws

    Source: United States Attorneys General

    Note: View the forfeiture complaint.

    The United States today filed a civil forfeiture complaint in the Southern District of Florida against a Dassault Falcon 900 EX aircraft, bearing tail number T7-ESPRT, which was smuggled from the United States under false pretenses and operated for the benefit of Nicolás Maduro Moros (Maduro) and his representatives in the Bolivarian Republic of Venezuela (the Maduro Regime) in violation of U.S. sanctions and export control laws. The aircraft was seized last year in the Dominican Republic at the request of the United States.

    Today’s filing alleges that the Dassault Falcon 900 EX aircraft was purchased and maintained in violation of U.S. sanctions against Maduro and the Maduro Regime. According to the complaint, the aircraft is forfeitable based on violations of U.S. law, including the International Emergency Economic Powers Act (IEEPA) and money laundering violations.

    Since 2014, the United States has imposed sanctions against targeted individuals, entities, and sectors in Venezuela to address the increasing political oppression and corruption in Venezuela by the Maduro Regime. On March 8, 2015, the President found that the situation in Venezuela constituted an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States and declared a national emergency pursuant to IEEPA to deal with that threat. See Executive Order (E.O.) 13692.

    In 2017, 2018, and 2019, President Trump took additional steps regarding the national emergency declared in E.O. 13692. On Aug. 5, 2019, the President issued E.O. 13884 “in light of the continued usurpation of power by Nicolás Maduro and persons affiliated with him, as well as human rights abuses, including arbitrary or unlawful arrest and detention of Venezuelan citizens, interference with freedom of expression, including for members of the media, and ongoing attempts to undermine Interim President Juan Guaidó and the Venezuelan National Assembly’s exercise of legitimate authority in Venezuela.”

    E.O. 13884 prohibits the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to the order, including the Government of Venezuela and the Maduro Regime; the receipt of any contribution or provision of funds, goods, or services from any such person; and, any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions set forth in the order.

    The complaint alleges that on or about Jan. 23, 2023, a company purportedly based in the Caribbean island country of St. Vincent and the Grenadines (Foreign Company 1) entered into a contract to purchase the Dassault Falcon 900 EX aircraft from a company in Florida for $13,250,000. The complaint further alleges that the individual in charge of purchasing the aircraft purportedly on behalf of Foreign Company 1 was a Venezuelan national (Foreign Principal 1), who concealed the fact that he was representing or associated with the Maduro Regime.

    The complaint further alleges that Foreign Company 1 merely acted as a nominee owner of the Dassault Falcon 900 EX aircraft as it was formed shortly before the purchase, in June 2022, and was struck from the register of St. Vincent companies for failure to pay annual fees two years later, in May 2024.

    The complaint further alleges that funds used to purchase the Dassault Falcon 900EX aircraft were sent via multiple wire transfers from different countries, including Malaysia, using both U.S. dollars and euros, and that Foreign Company 1 used an email address with a “.ae” domain from the United Arab Emirates to correspond with the Florida-based seller even though Foreign Company 1’s representatives allegedly had Spanish names and some of the emails contained the phrase “Enviado desde mi iPhone,” or Spanish for “Sent from my iPhone.”

    The complaint further alleges that the Dassault Falcon 900 EX aircraft was flown from the United States to St. Vincent on or about April 3, 2023, and approximately five hours later, it departed for Caracas, Venezuela, piloted by two members of the Venezuelan Presidential Honor Guard, and accompanied by a second aircraft that operates out of a Venezuelan military base.

    The complaint further alleges that, since May 2023, the Dassault Falcon 900 EX aircraft has flown to and from Venezuela at least 21 times and Maduro has been seen traveling with the aircraft on official visits to other countries, including for a December 2023 prisoner exchange with the United States.

    As alleged, in March 2024, the Dassault Falcon 900 EX aircraft was flown to the Dominican Republic for service and maintenance where Foreign Company 1 held itself out to be the owner, concealing from the Dominican-based jet maintenance company that the aircraft had been purchased and operated for benefit of the Maduro Regime.

    The complaint further alleges that on at least two occasions in May 2024, Foreign Principal 1, purportedly acting on behalf of Foreign Company 1, and other Venezuelan individuals, including military personnel, attempted to retrieve the Dassault Falcon aircraft from the Dominican Republic.

    Following the attempts by the Venezuelan individuals to retrieve the Dassault Falcon 900 EX aircraft, the U.S. government obtained a seizure warrant and requested that the Dominican Republic seize, detain, and transfer the Dassault Falcon aircraft. Pursuant to U.S. request, the aircraft was transported back to the United States on Sept. 2, 2024. That same day, the Maduro Regime issued a statement admitting the Dassault Falcon aircraft “has been used by” Maduro.

    A second Dassault Falcon aircraft identified by the Treasury Department’s Office of Foreign Assets Control (OFAC) as blocked property of Petroleos de Venezuela, S.A. (PdVSA), the sanctioned Venezuelan state-owned oil and natural-gas company, and illegally serviced and maintained in violation of U.S. sanctions, also was seized in the Dominican Republic at the request of the United States government on Feb. 6, 2025.

    The Department of Commerce Bureau of Industry and Security Miami Field Office is investigating the case, along with the Department of Homeland Security, Homeland Security Investigations (HSI) Santo Domingo.

    Assistant U.S. Attorneys Joshua Paster and Jorge Delgado for the Southern District of Florida and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are handling the matter.

    The Justice Department’s Office of International Affairs and HSI El Dorado Task Force Miami provided significant assistance in working with authorities in the Dominican Republic. The United States thanks the Dominican Republic for its assistance in this matter.

    MIL Security OSI –

  • MIL-OSI Australia: No interest loans locked in to help ease cost of living

    Source: Ministers for Social Services

    The Albanese Labor Government is locking in no interest loans for the next five years with an additional $48.7 million to support Australians with the cost of living.

    The funding boost to the No Interest Loans program (NILs) will allow Good Shepherd Australia New Zealand in partnership with National Australia Bank (NAB) to continue providing no-fee, no-interest loans for essentials to eligible people.

    More than one million Australians have already benefited from NILs.

    Good Shepherd administers the scheme, with NAB providing the loan capital. The loans can be used for urgent, critical household purchases and for vehicles for transport to work and essential day-to-day use.

    Minister for Social Services, Amanda Rishworth, said the Government’s investment will help ease cost of living pressures for many Australians who need support.

    “We’re proud to support Good Shepherd and NAB to deliver no-interest loans as an alternative to other high risk, high interest products such as Buy Now Pay Later products and payday loans,” Minister Rishworth said.

    “NILs provides support that is usually unavailable to low-income earners through mainstream providers, meaning tens of thousands of vulnerable Australians can purchase the essential things they need.

    “These loans also really help people achieve independence and financial recovery in escaping family, domestic, and sexual violence. And having access to a vehicle gives many Australians the ability and independence to work, study, provide care or seek medical care.”

    The NILs program is a great example of successful partnerships with industry. The Government has provided funding to Good Shepherd for the administration of NILs since 2009. Around 25,000 general NILs loans are provided each year while nearly 10,000 NILs for Vehicles loans have been provided since this program started in 2021.

    Good Shepherd Australia New Zealand CEO Stella Avramopoulos said: “Through powerful partnerships and expanded reach, including into the Northern Territory and First Nations communities, NILs is breaking down barriers, empowering women, sole parents and families, especially those escaping domestic violence, to achieve lasting financial independence and wellbeing.

    “With 25 per cent of recipients being sole parents and 18 per cent survivors of family and domestic violence, this support isn’t just about financial assistance — it’s about providing dignity, stability, and a pathway to a better future.

    “This work is only possible because of the strength of collaboration between not-for-profits, corporates such NAB, and government. Together, we’re creating meaningful, lasting change — removing credit barriers, preventing predatory lending, and ensuring vulnerable Australians, particularly those in regional and remote communities, have access to the resources they need to recover and rebuild.”
     
    NAB Executive Sustainability Jessica Forrest said: “NILs is NAB’s longest-standing community partnership, with more than $560 million in zero-interest capital provided over 21 years. Together, we are helping more Australians access credit for life’s essentials.

    “NAB is proud to provide the loan capital that supports the Good Shepherd NILs program, and pleased to keep working with Government on backing this longstanding program. This funding will ensure more people continue to get the support they need.

    “Too often, people in financial stress turn to high-interest payday loans. No interest loans offer a safer alternative, helping Australians borrow money without having to pay any fees or interest.”

    NILs assists vulnerable Australians to access affordable loans up to $3,000 for household goods, such as fridges, washing machines and furniture, as well as education and medical expenses.

    NILs for Vehicles loans up to $5,000 can be used to purchase cars, mobility scooters and related costs such as registration or maintenance expenses.

    Individuals can apply for NILs at over 600 locations across Australia. They are available to individuals and families who can service the loan and who:

    • earn less than $70,000 gross annually as a single person or $100,000 gross as a couple or person with dependants, or
    • have experienced family or domestic violence in the last 10 years, or
    • have a Health Care Card or Pension Card.

    More information about NILs is available on the Good Shepherd Australia New Zealand website.

    MIL OSI News –

  • MIL-OSI New Zealand: New State Highway 2 roundabout to improve road safety in Eastern Bay of Plenty

    Source: New Zealand Government

    The intersection of State Highway 2 (SH2) and Wainui Road in the Eastern Bay of Plenty will be made safer and more efficient for vehicles and freight with the construction of a new and long-awaited roundabout, says Transport Minister Chris Bishop. 

    “The current intersection of SH2 and Wainui Road is on a sweeping bend with limited visibility. There were nine crashes at this intersection between 2014 and 2023, three of them were injury crashes, one of which was serious. Construction of a roundabout here will make a real difference to the safe and efficient travel of local road users,” Mr Bishop says. 

    “Delivering safe roading infrastructure that supports economic growth and productivity is a priority. SH2 between Ōpōtiki and Whakatāne is a main route for locals, tourists, and freight between Tauranga and Gisborne. Around 5,000 per day vehicles use SH2 between Ōpōtiki and Wainui Road, with 15 percent heavy vehicles. 

    “The 2024-27 National Land Transport Programme prioritises investment in road safety and efficiency by encouraging safer driving behaviour, vehicles and infrastructure. Funding is available for improvements at the highest-risk locations, which includes the intersection between SH2 and Wainui Road. 

    “The roundabout at SH2 and Wainui Road is expected to cost around $10 million from business case through to completion and will complement a raft of improvements already completed in the area, such as road widening, side barrier installation, and line marking.  

    “Construction is due to start in April and will take approximately 12 months to complete. Final costs for the roundabout will be confirmed once the contract is awarded this month. 

    “I want to thank the local community in advance for their patience as this important work to make SH2 safer is carried out, and I look forward to it being completed as soon as possible.” 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Stand Up for Palestine: A Call to Action Against Israels Treacherous Attack

    Source: Te Pati Maori

    At 2.30am local time, Israel launched a treacherous attack on Gaza killing more than 300 defenceless civilians while they slept.

    Many of them were children.

    This followed a more than 2 week-long blockade by Israel on the entry of all goods and aid into Gaza.

    Israel deliberately targeted densely populated areas, schools, homes, and shelters for displaced people in the middle of a ceasefire.

    Donald Trump, who claims credit for the ceasefire, was consulted ahead of this attack. Neither Israel nor the United States have provided any justification for their actions.

    “This was a clearly premeditated act of terrorism on people who are trying to piece their shattered lives back together during ceasefire,” said Te Pāti Māori Co-Leader and Human Rights spokesperson Debbie Ngarewa-Packer.

    “Israel had no intention of honouring ceasefire. If they were capable of honour, we would not be in this situation to begin with.

    “A genocide is being live-streamed, and we are allowing it to happen. It is unforgivable.

    “History will judge all of us on where we stood today,” Ngarewa-Packer said.  

    “Donald Trump has openly called for the ethnic cleansing and colonisation of Gaza by the United States, and our spineless Prime Minister backs him,” said Te Pāti Māori Co-Leader and Foreign Affairs spokesperson, Rawiri Waititi.

    “These people do not care, and they do not listen.

    “If they will not hear us, we need to make them feel us,” Waititi said.

    We are once again calling on te iwi Māori to stand up for Palestine.

    Hit the streets and join in the global call for action.

    Educate your whānau on who to boycott and who to support. Do not give one more dollar or click to Zionism.

    We must ramp up our efforts. The time for asking is over.

    Free Palestine.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: A rude awakening out west

    Source: New Zealand Police (National News)

    A man faces charges after a Police patrol caught him napping in a stolen vehicle in the small hours.

    Acting Detective Inspector Simon Harrison says a Crime Squad unit was travelling through Rānui at around 1.45am.

    “At first the night shift team came across a vehicle parked on Bahari Drive with the door wide open and the driver sound asleep.

    “On further checks, the vehicle was showing as stolen.”

    The vehicle had been reported stolen from the North Shore area in a burglary earlier this month.

    “The lone man was startled awake when our staff approached him, locating a screwdriver securely resting in his lap,” acting Detective Inspector Harrison says.

    “We arrested the 21-year-old man without further incident.”

    He has been charged with unlawfully taking a motor vehicle and will appear in the Waitākere District Court next week.

    Police enquiries are ongoing into the initial burglary in Wairau Valley.

    ENDS. 

    Jarred Williamson/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Transport – Public are big fans of truck drivers – survey

    Source: Ia Ara Aotearoa Transporting New Zealand

    Polling shows strong positive public sentiment towards truck drivers, with more than seven times as many people surveyed having a positive perception of road freight drivers compared to those taking a negative view (52 per cent to 7 per cent).
    The survey respondents noted truck drivers’ professionalism and skill, essential service and economic contribution, and hard work and long hours, as the leading three reasons for the results.
    Public polling done by independent survey firm Research New Zealand, for road freight association Transporting New Zealand, surveyed 1005 New Zealanders across a representative population sample.
    52 per cent of respondents had a positive perception of truck drivers, 35 per cent were neutral, and 7 percent held a negative perception, just below the 5 per cent who did not give a response. [The full data set is provided below at Table 1]
    Support for truck drivers was consistent regardless of what form of private transport the survey respondents used (car, public transport, walking, bike or motorcycle, or other).
    The public polling was completed as part of the 2025 National Road Freight Survey, which also includes surveying road freight industry participants (available at https://survey.researchnz.com/S2/1/RoadFreight/).
    Transporting New Zealand Policy and Advocacy Lead Billy Clemens says the results are a great recognition of the incredible work New Zealand’s 33,000 professional truck drivers do, moving nearly 93 per cent of the country’s freight task.
    “Seeing that the public recognise the professionalism and skill of drivers, the economic contribution they make (over $8.6 billion per year), and the hard work road freight operators put in is a real endorsement of our driver workforce.
    “Transporting New Zealand has consistently said our people are the industry’s most valuable asset, and that’s reinforced by these results.
    “Over the past few years, the road freight industry has dealt with COVID disruption, supply chain issues, natural disasters and an increasingly pot-holed roading network. Throughout all these challenges, truck drivers have kept shelves stocked, businesses supplied and infrastructure projects moving. I think that’s reflected in the positive perception that the public has.
    Clemens says that while the results are positive, the survey results also show a minority of respondents had concerns about truck drivers, mainly based around road safety and driving behaviour.
    “All road freight businesses need to be setting clear expectations for their drivers around compliance and defensive driving, to help keep everyone feeling safe on the road.
    “Transporting New Zealand will also keep advocating for investment in overtaking lanes, road widening and corner easing, freight bypasses, and other infrastructure that improves safety and productivity outcomes for all road users.”
    Transporting New Zealand is also encouraging all road freight industry participants to complete the ten-minute long 2025 Road Freight Industry Survey, that will provide valuable insights on industry priorities and challenges and complement the public polling ( https://survey.researchnz.com/S2/1/RoadFreight/), the results of which will be shared publicly.
    Survey completed by Research New Zealand for Transporting New Zealand. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Rātā Foundation appoints Megan Glen to Investment Committee

    Source: Rata Foundation

    Rātā Foundation is pleased to announce the appointment of Megan Glen to its Investment Committee.
    Rātā Foundation is the South Island’s most significant community investment fund, managing a $700 million pūtea (fund) that generates around $26 million per annum to invest in its funding regions of Canterbury, Nelson, Marlborough, and the Chatham Islands. They invest sustainably, with goals linked to people and the community.
    Megan is a director in Forsyth Barr’s investment banking team, based in Auckland, advising large private and public entities on capital raisings and M&A transactions.
    Rātā Foundation’s Chief Executive says, “Megan brings significant investment asset management experience from her time in the direct investments team at the NZ Superannuation Fund, where she was responsible for managing and transacting a portfolio of private direct investments and had the opportunity to sit on the Boards of a number of NZ Super’s investee companies.”
    She also brings over 14 years of corporate finance experience, having worked as an investment banker in New Zealand and New York, advising on capital raisings, M&A, and refinancing transactions. Megan is also currently a member of the New Zealand Takeovers Panel, the Government’s regulator of the corporate takeover market. 
    “I am thrilled to have the opportunity to contribute my experience and perspectives working with the Rātā team to help guide their investment decisions, aligned with a common, motivating purpose,” says Ms Glen.”The Rātā investment strategy and beliefs differentiate it as a capital partner, and I believe that differentiation will allow Rātā to access valuable opportunities to deliver superior risk-adjusted returns while providing sustainable value to support the communities Rātā invests in.”
    Alignment of investors and objectives is critical to de-risking and driving investment performance. Generating investment returns always carries a degree of risk and the alignment of stakeholders is one of the best defenses to navigating turbulent times,” she says.
    Mr Evans says that Megan’s appointment is exciting and her experience will be hugely beneficial as Rātā focuses on its direct investment strategy.
    “Megan will strengthen the investment capability of the Committee by bringing both institutional investment knowledge and supporting informed decision-making, particularly around our direct investment strategy.”
    Megan has replaced Andrew Johnson who was on the Investment Committee since March 2019.
    “I would like to thank Andrew for his valuable insights over the past few years, particularly around the shift from a defensive to a more growth-orientated portfolio, which has set Rātā up for a bright and positive future,” says Mr Evans. 
    About Rātā Foundation
    Rātā Foundation is South Island’s most significant community investment fund, managing a $700 million pūtea that generates around $26 million per annum to invest in its funding regions of Canterbury, Nelson, Marlborough, and the Chatham Islands. The long-term strategic objective of Rātā is to invest in communities to enable a higher standard of community well-being. We intend to grow our investment portfolio so that we can increase our long-term funding distribution
    For more information about the investment approach of Rātā please visit https://ratainvest.org.nz/
    For more information on the social impact provided through community investment please visit https://ratafoundation.org.nz/

    MIL OSI New Zealand News –