Category: Asia

  • MIL-OSI Economics: Development Asia: Ensuring Sustainable, Locally Relevant Vaccine R&D in Resource-Limited Settings

    Source: Asia Development Bank

    Decisions on vaccine platform choice should be context-specific.

    Various vaccine technologies or platforms are available to help the body defend against pathogens (Table 1). While mRNA-based vaccines were the fastest to be developed and the most effective against SARS-CoV-2, the technology is not a solution for all pathogens. Each vaccine platform has its advantages and limitations, and choosing one depends on factors such as the pathogen, immune response, outbreak situation, cost, and ease of manufacturing.

    The understanding of how the human body defends against different pathogens often guides vaccine technology selection. The two major protective, vaccine-induced immune components include: 1) neutralizing antibodies in the blood that can block infection and 2) immune T cells that kill infected cells. For example, the immune system combats bacterial infections through T-cell-dependent antibodies targeting the outer bacterial polysaccharide coating. As a result, most bacterial vaccines use polysaccharide conjugate vaccine technologies.

    Tackling pandemic versus endemic pathogens requires vastly different vaccine development considerations. During a pandemic, rapid vaccine development technologies, such as mRNA, are critical. However, for vaccines against endemic pathogens, priorities may shift to long-term immunity and cost-effectiveness. When developing vaccines in or for populations in low-resource settings, cost and manufacturing complexity are key considerations. Furthermore, up-to-date knowledge of the major circulating pathogen strains—both locally and globally—and their associated epidemiology should inform vaccine development.

    Investment in a range of vaccine platforms is critical for maximizing success.

    As countries tackle a vast range of emerging infectious diseases, experts recommend judicious R&D investments in a variety of platforms, as well as innovations in manufacturing. The “portfolio approach” by the Coalition for Epidemic Preparedness Innovations (CEPI) is a case in point. It refers to the deliberate investment in a diverse range of vaccine platforms. Portfolio diversification enhances overall success by ensuring that different platforms do not share the same features and risks of failure.

    Investment in early-stage R&D is instrumental for understanding how vaccine candidates provide protection and for generating evidence to support early go/no-go decisions in vaccine development. All vaccine R&D investments require a comprehensive assessment to evaluate market demand, barriers to access, and expected public health impact. For example, GAVI’s vaccine investment analysis framework aims to understand and capture the full value of vaccines, including social, economic, and population health benefits.

    CEPI’s 100-day mission proposes to build a global vaccine library to promote coordinated investments and a global collaborative network for rapid content sharing. This initiative aims to build a library of vaccine prototypes and incorporate AI tools to forecast virus variants for high-priority diseases before their emergence.

    Accelerating vaccine development requires multi-stakeholder effort.

    The COVID-19 pandemic highlighted the possibility of drastically shrinking clinical development timelines by combining clinical trial phases and using adaptive trial designs. The use of immune correlates of protection (CoP)—i.e., immune parameters responsible for vaccine-induced protection—also enabled the rapid licensure of several COVID-19 vaccines. This was achieved through bridging studies, where immunology results from completed clinical trials were extrapolated to different populations. Fundamental research on high-priority pathogens is therefore crucial for establishing and validating CoP for future pandemic pathogens. Newer methods, such as controlled human challenge models, offer further potential to provide rapid insights into protection and safety.

    Regulatory agility during the pandemic facilitated the expedited development of safe and high-quality vaccines. Similarly, regional and global collaboration in sharing manufacturing processes and vaccine safety and efficacy data further accelerated vaccine R&D. Therefore, continued data sharing, harmonization of regulatory requirements and resolving intellectual property issues will lead to faster availability of new vaccines during emergencies.

    Limited infrastructure, funding, technical expertise, operational and manpower limitations currently hamper trials in resource-limited countries. Equitable vaccine access may be facilitated through international public-private partnerships in vaccine development and technology transfer. Understanding the magnitude and extent of knowledge and expertise gaps in these countries is important for guiding capacity building initiatives.

    Affordability dictates the success of vaccine development programs in resource-limited countries.

    Innovative strategies are essential in ensuring financial sustainability of vaccine R&D in lower-resourced countries. Design and discovery of new and improved vaccine technologies usually require decades of investment in basic scientific research, which is mostly sustainable in high-resource settings. To level the playing field, initiatives such as the WHO mRNA transfer hub and private and philanthropic joint ventures like Hilleman laboratories are working to make new vaccine technologies more accessible to lower-resource countries through technology transfer mechanisms.

    Additionally, vaccine clinical trials require significant financial investments for setting up infrastructure, capacity development and clinical trial implementation. As a solution, WHO recently set up the Global Clinical Trials Forum to strengthen the clinical trial ecosystem in the Global South and promote domestic financing of clinical trials.

    Table 1: Major Vaccine Platforms and Considerations for Development in Resource Constrained Settings

    MIL OSI Economics

  • MIL-OSI New Zealand: Sinoboom Now Available at Youngman Richardson

    Source: Press Release Service – Press Release/Statement:

    Headline: Sinoboom Now Available at Youngman Richardson

    Youngman Richardson (YR), a leading provider of Elevated Work Platforms (EWP) in New Zealand, is proud to offer Sinoboom Access Equipment as an option. Recognised globally for high-performance and durable access equipment, Sinoboom serves construction, industrial, agricultural and hire sectors across 70 countries, including Europe, Southeast Asia, Africa and Oceania.

    The post Sinoboom Now Available at Youngman Richardson first appeared on PR.co.nz.

    – –

    MIL OSI New Zealand News

  • MIL-OSI:   Ageas reports full-year results 2024

    Source: GlobeNewswire (MIL-OSI)

    Ageas reports full-year results 2024

    • Successful completion of Impact24, delivering on all financial targets
    • Strong commercial performance accelerated across businesses and segments, resulting in a 10% growth
    • Continued strengthening of the business profitability leading to a Net Operating Result of EUR 1.24 billion, at the top half of the 2024 full-year guidance
    • Holding cash position above EUR 1.0 billion
    • Proposed total dividend of EUR 3.50 per share. Final dividend of EUR 2.00 per share
    Key Figures 2024
    Result
    • Net Operating Result of EUR 1,240 million, representing a Return on Equity of 16.3%
    • Net Result of EUR 1,118 million
    • Operational Capital Generation of EUR 2.2 billion
    • Operational Free Capital Generation of EUR 1.5 billion
    Inflows
    (at constant exchange rate and constant scope)
    • Inflows amounted to EUR 18.5 billion, representing a strong growth of +10%
    • Life inflows rose to EUR 11.7 billion (+9%) thanks to a return to growth in Belgium and Europe and a maintained solid performance in Asia
    • Non-Life inflows increased to EUR 6.8 billion (+14%) with significant business growth in all segments and product lines
    Operating Performance
    • Combined ratio of 93.3%
      • Guaranteed Margin of 149 bps and Unit Linked Margin of 41 bps
    Balance Sheet
    • Comprehensive Equity of EUR 16.1 billion or EUR 88.14 per share
    • Pillar II Solvency II ratio improved, reaching 218%, well above the Group’s neutral risk appetite
    • General account Total Liquid Assets as at 31 December 2024 stood at EUR 1,066 million
    • Life Liabilities excl. UG/L stood at EUR 91.4 billion
    Non-financial and Sustainability Targets
     
    • During the Impact24 cycle, Ageas’s scores from the six ESG rating agencies assessing the Group significantly improved, reaching Top Quartile with one.
    • 29% of Gross Written Premiums comes from sustainable products, while EUR 14,6 billion was invested in sustainable assets.
    • Six entities have achieved a Top Quartile cNPS score and five a Top Quartile eNPS score.
    • Significant progress has been made in diversifying distribution, encompassing both agency and digital platforms.

    Hans De Cuyper, CEO Ageas: “I am very pleased to announce an excellent performance in 2024. We grew inflows considerably, increased the profitability of our business and secured a Net Operating Result of 1.24 billion euro at the upper half of our guidance, while maintaining a strong cash and solvency position. This strong performance enables us to announce a total gross cash dividend of 3.50 euro for 2024, consistent with our Impact24 commitment. I am also proud that we successfully completed our Impact24 strategic cycle, achieving sustainable growth, strengthening profitability, and diversifying cash flows, while meeting all financial targets and most non-financial ones. While we have made significant progress in various aspects of our business, I am especially pleased that our ESG efforts have been recognised by rating agencies, which has led to the inclusion of the Ageas share in the BEL®ESG index. Barring unforeseen circumstances, we anticipate a cash upstream from the business between 850 to 900 million euro in 2025, giving us a good starting position to meet our Elevate27 dividend commitment.”

    Attachment

    The MIL Network

  • MIL-OSI: BW Offshore: Fourth quarter and full year results 2024

    Source: GlobeNewswire (MIL-OSI)

    Fourth quarter and full year results 2024

    HIGHLIGHTS

    • Q4 EBITDA USD 72 million and 2024 EBITDA USD 318 million in line with guidance
    • Strong commercial performance with Q4 operating cashflow of USD 79 million and 2024 operating cashflow of USD 363 million
    • Robust balance sheet with an equity ratio 30.8% and USD 540 million in available liquidity
    • Q4 cash dividend raised to USD 0.14 per share
    • Increased cash flow in sight with Barossa FPSO on track for April sail-away
    • Full-year 2025 EBITDA guidance in the range of USD 220-250 million

    BW Offshore continues to progress the Barossa project according to schedule and well within the updated budget. As of end January 2025, construction and integration was 99% complete and commissioning at 85% completion. The vessel is currently being prepared for sail-away in late April. The FPSO is on track for first gas in mid-2025.

    For 2025, BW Offshore expects to report EBITDA in the range of USD 220 to 250 million. The EBITDA outlook reflects the firm backlog for BW Adolo and BW Catcher and the expected start of IFRS revenue recognition from BW Opal at full practical completion during the fourth quarter. Dayrate received for the BW Opal during the start-up and early production phase from mid-2025 will be amortised over the 15-year contract period. Contract negotiations for BW Pioneer are progressing well, however no guidance on EBITDA has been included beyond firm contract.

    The Board of Directors has declared a quarterly cash dividend of USD 0.14 per share. The shares will trade ex-dividend from 3 March 2025. Shareholders recorded in VPS following the close of trading on Oslo Børs on 4 March 2025, will be entitled to the distribution payable on or around 11 March 2025. The total dividend for 2024 amounts to USD 59.2 million, equal to 50% of net Income for the year.

    “We continue to maintain a strong balance sheet supported by consistent high commercial uptime and robust cash generation from the fleet with 2024 EBITDA above initial guidance. Our commitment to returning value to shareholders stands firm as reflected in the increased fourth-quarter dividend, and a total distribution for 2024 reflecting 50% of net profit for a second consecutive year,” said Marco Beenen, CEO of BW Offshore. “As BW Opal progresses to schedule and soon departs the yard in Singapore for the Barossa field, we are moving ahead with potential new FPSO projects that meet our selection criteria in a market with high tendering and FEED activity.”

    FINANCIALS
    EBITDA for the fourth quarter of 2024 was USD 71.9 million (USD 83.2 million in Q3). The EBITDA reflects solid operational performance across the FPSO fleet. Third quarter EBITDA was higher due to the final contribution from engineering and design work on the Sakarya project.

    EBIT for the fourth quarter was USD 30.8 million (USD 37.6 million).

    Net financial items were positive at USD 19.4 million (negative USD 16.4 million), of which net interest expense amounted to USD 3.0 million (USD 4.3 million). Fourth quarter was impacted by the recognition of a valuation gain on the finance liability related to the Barossa project, due to changes in timing of future expected cash flows and a positive mark-to-market adjustment on interest rate hedges resulting from an increase in swap rates.

    The share of loss from equity-accounted investments was USD 9.5 million, including a valuation adjustment on the Barossa finance receivable related to changes in timing of future expected cash flows (loss of USD 5.7 million).

    Net profit for the fourth quarter increased significantly to USD 40.8 million (USD 13.0 million).

    Total equity as of 31 December 2024 was USD 1 246.6 million (USD 1 208.6 million). The equity ratio was 30.8% at the end of the quarter (29.6%).

    As a result of strong cash generation from the fleet and the sale of BW Energy shares in 2024, the Company was net cash positive by USD 74.4 million as of 31 December 2024 (USD 38.4 million net cash positive at the end of September).

    Available liquidity was USD 540 million, excluding consolidated cash from BW Ideol and including USD 233.8 million available under the corporate loan facility.

    FPSO OPERATIONS
    The FPSO fleet continued to deliver stable uptime in the quarter with a weighted average fleet uptime of 99.2% (98.9% in the third quarter).

    BW Adolo delivered strong commercial performance as fourth quarter production increased to 37,150 barrels per day (bbls/day), resulting in strong cash flow stemming from the tariff under the contract that generate USD 1.5/bbl for the first 20,000 bbls/day of production and USD 3/bbl for production beyond 20,000 bbls/day.

    Performance from BW Catcher and BW Pioneer was stable and consistent with high commercial uptime.

    FPSO PROJECTS
    In January, BW Offshore was selected to perform the pre-FEED study for the Bay du Nord FPSO project by Equinor. The project reflects BW Offshore’s expertise in floating production solutions for harsh environment conditions, and commitment to delivering sustainable and innovative solutions. The pre-FEED study will play an important role in supporting Equinor’s strategic goals for the Bay du Nord development.

    LOW CARBON ENERGY SOLUTIONS
    BW Offshore is committed to contribute to the energy transition by developing low-carbon offshore energy production solutions, by leveraging FPSO expertise to deliver low-carbon energy and expand into new sectors, focusing on low-emission oil and gas, CO2 transport, gas-to-power and floating ammonia to meet evolving energy demands. The Company maintains a disciplined approach with selective and diligent allocation of capital and a commitment to creating shareholder value.

    BW Offshore also owns 64% of BW Ideol. BW Ideol is a leader in offshore floating wind technology and co-development, with over 14 years of experience in the development of floating wind projects.

    In December, BW Ideol’s project partners, EDF Renewables and Maple Power, were awarded the Mediterranean Tender (AO6) floating offshore wind project in France. The 250-megawatt (MW) development will leverage BW Ideol’s proprietary Damping Pool® technology, a proven solution that optimises the stability and performance of floating wind turbines in challenging marine environments. A total of 12 floating foundations and turbines are planned to be installed at the site.

    OUTLOOK
    Growing energy demand continues to drive interest in developing new infrastructure-type FPSO projects with long production profiles, low break-even costs and focus on lower emissions. Increased project complexity, combined with higher construction costs, necessitates financial structures with significant day rate prepayments during the construction period for new lease and operate projects.

    Alternatively, oil and gas majors may finance and own FPSOs, relying on FPSO specialists for the design, construction and installation scope, combined with operation and maintenance services. BW Offshore is well positioned to offer both solutions.

    In recent years, the number of sanctioned FPSO projects have lagged market expectations. Consequently, there is a growing number of projects at various stages of maturity, reflecting a pent-up demand for FPSOs. Increased FEED and tendering activity is a function of this, and BW Offshore expects that a number of the FPSO projects the Company is engaging with will reach a final investment decision over the next 12 to 36 months. The market dynamics, combined with the high competence levels required for project execution, should enable better risk-reward and improved margins for FPSO companies going forward.

    BW Offshore continues to selectively evaluate new projects that meet required return targets, offer contracts with no residual value risk after firm period, and provide a financeable structure with strong national or investment-grade counterparties.

    BW Offshore expects that the fleet will continue to generate significant cash flows in the time ahead, supported by the USD 5.3 billion firm contract backlog at the end of December 2024.

    Please see attached the Q4 Presentation. The earnings tables are available at:

    https://www.bwoffshore.com/ir/

    BW Offshore will host a webcast of the financial results 09:00 (CET) today. The presentation will be given by CEO Marco Beenen and CFO Ståle Andreassen.

    Webcast information:
    You can follow the presentation via webcast with supporting slides and a Q&A module, available on:

    BW Offshore Limited – Q4 Presentation Webcast

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The web page works best in an updated browser – Chrome is recommended.

    For further information, please contact:
    Ståle Andreassen, CFO, +47 91 71 86 55
    IR@bwoffshore.com or www.bwoffshore.com

    About BW Offshore:
    BW Offshore engineers innovative floating production solutions. The Company has a fleet of 3 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo Stock Exchange.

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    Attachments

    The MIL Network

  • MIL-OSI Economics: Secretary-General of ASEAN meets with the Minister of Trade and Industry of Timor-Leste

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with Minister of Trade and Industry of Timor-Leste Filipus Nino Pereira, in Johor, Malaysia, on the sidelines of the 31st ASEAN Economic Ministers’ (AEM) Retreat. They discussed Timor Leste’s accession process to ASEAN, particularly under the pillar of ASEAN Economic Community.

    The post Secretary-General of ASEAN meets with the Minister of Trade and Industry of Timor-Leste appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-Evening Report: Virgin Australia’s deal with Qatar has been given the green light. Travellers should be the winners

    Source: The Conversation (Au and NZ) – By Chrystal Zhang, Associate Professor, Aerospace Engineering & Aviation, RMIT University

    Petr Podrouzek/Shutterstock

    Treasurer Jim Chalmers has given the green light for Qatar Airways to buy a 25% stake in Virgin Australia, as part of a strategic alliance. The deal will shake up the Australian aviation market.

    The announcement follows a detailed assessment by the Foreign Investment Review Board, and a draft determination to authorise the deal by the Australian Competition and Consumer Commission (ACCC).

    The deal allows Qatar Airways to buy the 25% stake from the US private equity firm Bain Capital, and makes an eventual initial public offering of Virgin more likely. It also allows Virgin to operate regular services from some of Australia’s major capital cities to Doha.

    Chalmers said the agreement will be subject to enforceable conditions, including retaining Australians on the board of Virgin and protecting consumer data.

    The ACCC has previously said the tie-up would boost competition and benefit consumers.

    The announcement comes on the same day as competitor Qantas posted its latest half-year earnings, showing statutory profits up 6% on the same period last year. So, will Australian flyers be the ultimate winners?

    Getting Australians around the world

    For many Australian travellers, getting where they want to go around the world has long meant making a stopover, especially if travelling to Europe.

    Currently, Qantas does operate direct flights between Perth and three cities in Europe: London, Paris and Rome.

    Doha’s Hamad International Airport is an important global aviation hub.
    Light Orancio/Shutterstock

    However, other international carriers – including Emirates, Singapore Airlines, Thai Airways, Malaysia Airways and some Chinese carriers – all provide connecting flights via an international hub airport.

    Doha’s Hamad International Airport is one such hub, and Qatar Airways currently flies from there to more than 170 destinations.

    At the heart of this new partnership is what’s called a “wet lease arrangement”. Virgin will be able to use both the aircraft and crew of Qatar Airways to operate its own flights.

    That will allow Virgin to compete as if it were an established international carrier, because it provides access to Qatar’s international network. It should also mean streamlined transit procedures, minimal waiting times, and better baggage handling.

    This deal is expected to create 28 new weekly return services to Doha, from Melbourne, Perth, Sydney and Brisbane. Having additional flights to this hub by Virgin will give travellers many more options for getting around the world.

    More competition for Qantas

    The agreement will greatly expand Virgin’s international reach and make it more competitive with Qantas. Virgin had to scale back its international footprint after it went into receivership in 2020.

    Qantas will continue to be a major player in flying Australians to Europe. It has also recently added more direct flights from Perth to European destinations.

    But we may be seeing signs of more robust competition pressures already. In its profit announcement on Thursday, Qantas outlined a plan for cabin upgrades for its Boeing 737s as it awaits delivery of new Airbus aircraft.

    Virgin will offer international flights through a ‘wet lease’ arrangement with Qatar.
    Seth Jaworski/Shutterstock

    Turning things around

    Virgin Australia has come a long way since entering voluntary administration in April 2020. After being sold to Bain Capital, the airline restructured its cost base, fleet and commercial functions.

    With a focus on cutting costs and improving its Velocity frequent flyer program, Virgin has since been able to bounce back from the brink and win back market share.

    That success means Virgin is now better positioned to return to international markets and compete with Qantas there, too.

    It will give the airline’s owners more confidence in handing over to a new chief executive and preparing the ground for a long-delayed initial public sharemarket offering that would see Virgin return to the Australian Securities Exchanges (ASX).

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

    ref. Virgin Australia’s deal with Qatar has been given the green light. Travellers should be the winners – https://theconversation.com/virgin-australias-deal-with-qatar-has-been-given-the-green-light-travellers-should-be-the-winners-251025

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Planisware delivered strong revenue growth, profitability and cash generation in 2024

    Source: GlobeNewswire (MIL-OSI)

    Planisware delivered strong revenue growth, profitability and cash generation in 2024

    • Revenue up +17.4% in constant currencies to € 183.4 million
    • Adjusted EBITDA* up +23.7% to € 64.6 million, representing 35.2% of revenue (+180bps year-on-year)
    • Adjusted FCF* up +24.5% to € 54.6 million, representing a 84.5% cash conversion rate*
    • Proposed dividend representing 50% of profit for the period, above Group policy
    • 2025 objectives:
      • Mid-to-high teens revenue growth in constant currencies
      • c. 35% adjusted EBITDA margin*
      • Cash Conversion Rate* of c. 80%

    Paris, France, February 27, 2025 – Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy market, announces today its FY 2024 results. Revenue amounted to € 183.4 million, up by +17.3% in current currencies, mainly led by the continued success of the Group’s market-leading SaaS platform. In constant currencies, revenue growth reached +17.4% (€+27.2 million), in line with the 17% to 18% 2024 objective. Recurring revenue amounted to € 162.7 million (89% of total revenue) and was up by +21.0% in constant currencies.

    Adjusted EBITDA1 reached € 64.6 million (+23.7% vs. FY 2023), representing 35.2% of revenue, above the c. 34% 2024 objective. The year-on-year improvement by c. +180 basis points resulted from revenue growth, positive mix effect, and further efficiency gains on employee-related costs, in particular on R&D spendings benefitting from increased usage of AI tools.

    Current operating profit reached € 51.8 million, up by +20.8% compared to FY 2023 and Profit for the period amounted to € 42.7 million.

    Cash generation was particularly strong with adjusted FCF* reaching € 54.6 million, up by +24.5% year-on-year. It represented a cash conversion rate* of 84.5%, above the c. 80% 2024 objective. Net cash position* was € 176.1 million as of December 31, 2024, compared to € 142.6 million as of December 31, 2023 and € 156.4 million as of June 30, 2024.

    Loïc Sautour, CEO of Planisware, commented: “In 2024, Planisware continued to deliver sustainable and profitable growth. Despite significant uncertainties in the macroeconomic and geopolitical context, our clients continued to trust Planisware for their digital transformation and operational excellence efforts. These close relationships enabled us to deliver a robust revenue growth.

    We also delivered profitability and cash generation above this year’s objectives thanks to the continuous positive mix effect of our activities and further efficiencies on employee-related costs, in particular on R&D spendings benefitting from increased usage of AI tools.

    In parallel, Planisware’s CSR efforts were recognized by the EcoVadis gold medal award, the all-round Great Place to Work certification, and by a satisfying B score for our first rating by CDP. These distinctions illustrate Planisware’s rapid progress and ongoing commitment to building a more responsible society.

    For 2025, taking into account our strong commercial pipeline on one hand and uncertainties in the timing of contract starts and the evolution of sales cycle length on the other hand, we set the mid-to-high teens range for revenue growth objective. We also intend to maintain a strong profitability and to keep delivering a best-in-class cash conversion rate.

    FY 2024 revenue by revenue stream

    To address the needs of strategic defense-sector clients who require mission-critical solutions to operate on their own infrastructures rather than through Cloud-based SaaS, Planisware has introduced a new delivery mode that includes annual licenses. These multi-year agreements allow the solution to be licensed on a yearly basis. Planisware anticipates that this innovative delivery mode will be particularly relevant for companies with specific security and sovereignty requirements. Planisware reports this line of revenue for the first time in 2024, within its recurring revenue (under Planisware’s SaaS model), since first such contracts was signed in Q4 2024.

    In € million FY 2024 FY 2023 Variation
    YoY
    Variation
    in cc*
    Recurring revenue 162.7 134.7 +20.8% +21.0%
    SaaS & Hosting 82.0 64.6 +27.1% +27.1%
    Annual licences 1.1 N/A N/A
    Evolutive support 48.7 42.0 +16.0% +16.3%
    Subscription support 11.9 9.4 +26.5% +26.4%
    Maintenance 19.1 18.8 +1.8% +1.8%
    Non-recurring revenue 20.7 21.1 -1.7% -1.7%
    Perpetual licenses 7.5 5.7 +30.8% +30.8%
    Implementation & others non-recurring 13.3 15.4 -13.8% -13.8%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

    * Revenue evolution in constant currencies, i.e. at FY 2023 average exchange rates

    Reaching € 183.4 million in 2024, revenue was up by +17.3% in current currencies and +17.4% in constant currencies. The exchange rates effect was almost mostly related to the appreciation of the euro versus the Japanese yen compared to FY 2023. In order to reflect the underlying performance of the Company independently from exchange rate fluctuations, the following analysis refers to revenue evolution in constant currencies, applying FY 2023 average exchange rates to FY 2024 revenue figures, unless expressly stated otherwise.

    Recurring revenue

    Representing 89% of 2024 total revenue versus 86% in 2023, recurring revenue reached € 162.7 million, up by +21.0%.

    Revenue growth was led by +24.1% growth of Planisware’s SaaS model (i.e. SaaS & Hosting, Evolutive & Subscription support, and Annual licenses), of which SaaS & Hosting revenue was up by +27.1% thanks to contracts secured with new customers as well as continued expansion within the installed base. Revenue of support activities (Evolutive & Subscription support), intrinsically related to Planisware’s SaaS offering, grew by +18.1%. Finally, Annual licenses contributed for €+1.1 million in Q4 2024.

    Maintenance revenue was up by +1.8% in the context of the Group’s shift from its prior Perpetual license model to a SaaS model.

    Non-recurring revenue

    Non-recurring revenue was slightly down by -1.7% over the year, with a contrasted trend of Perpetual licenses up by +30.8% and Implementation down by -13.8%.

    Perpetual licenses benefited from a strong demand for extensions and upgrades from existing customers with specific on-premises needs, mostly in the defense industry. On the other hand, Planisware’s focus on shorter implementations and faster delivery to customers, combined with project start delays, led to revenue decline in Implementation.

    FY 2024 revenue by region

    In € million FY 2024 FY 2023 Variation
    YoY
    Variation
    in cc*
    Europe 87.2 76.1 +14.7% +14.5%
    North America 80.3 68.5 +17.3% +17.3%
    APAC & ROW 15.9 11.2 +41.8% +44.0%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

    * Revenue evolution in constant currencies, i.e. at FY 2023 average exchange rates

    In 2024, all key geographies contributed to Planisware revenue growth, although with contrasted contributions for each semester of the year:

    • Representing 44% of total revenue in 2024, North America strongly contributed to year-end growth (+19.0% in H2 2024) after having faced elongated customer’ decision-making processes translating into slower growth in non-recurring activities and Implementation services in particular over the first periods of the year (+15.6% in H1 2024). All in all, thanks to a significant level of cross-selling and up-selling with existing customers and new customer wins, North America grew by +17.3% over the year.
    • By contrast, after a decent growth in H1 2024 (+18.1%) driven in particular by strong dynamics in Germany, revenue growth in Europe significantly slowed down in H2 2024 (+11.4%) due to macroeconomic uncertainties and political concerns in France as well as difficulties seen in some of the Group’s key verticals such as automotive. As a result, revenue in Europe grew by +14.5% in 2024.
    • Planisware’s growth in APAC & rest of the world of +44.0% resulted from a strong commercial momentum in Japan, Singapore, and the Middle East, as well as from the consolidation of IFT KK and, to a lesser extent, of Planisware MIS.

    FY 2024 revenue by pillar

    In € million FY 2024 FY 2023 Variation
    YoY
    Variation
    in cc*
    Product Development & Innovation 97.8 87.5 +11.8% +11.9%
    Project Controls & Engineering 37.2 27.4 +35.7% +35.6%
    IT Governance & Digital Transformation** 32.2 26.8 +20.2% +20.1%
    Project Business Automation 15.9 13.6 +16.5% +17.0%
    Others 0.4 0.4 -5.7% -5.7%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

    * Revenue evolution in constant currencies, i.e. at FY 2023 average exchange rates

    In 2024, all key pillars contributed to Planisware’s revenue growth with the most recent ones ramping-up as growth relays:

    • Product Development & Innovation (“PD&I”) drives R&D and product development teams with a focus on companies in the life sciences, manufacturing and engineering, automotive design and fast-moving consumer goods sectors. In 2024, it remained Planisware’s principal pillar, with 53% of total revenue and +11.9% growth, resulting from both new customer wins and the expansion of offerings to existing customers.
    • Project Controls & Engineering (“PC&E”) supports production teams in industries with sophisticated products, plants and infrastructure, such as aerospace and defense, energy and utilities, manufacturing and engineering and life sciences. While still a recent pillar for Planisware, it represented 20% of 2024 total revenue. Supported by the successful roll-out of offerings in North America, PC&E grew by +35.6%.
    • IT Governance & Digital Transformation (“IT&DT)** helps IT teams across all sectors develop comprehensive solutions to automate IT portfolio management, accelerate digital transformation and simplify IT architecture. IT&DT represented 18% of 2024 total revenue and grew by +20.1%, fueled by continuous cross-sell to Planisware clients needing to accelerate their digital transformation.
    • Project Business Automation (“PBA”) supports companies in all industries that seek to increase their revenue-based projects and enhance their operating results through automated processes. Due to a more recent entry of Planisware in the market relating to this pillar, PBA represented only 9% of 2024 total revenue and was up by +17.0% thanks to new customer wins and cross-selling.

    Commercial dynamic

    In 2024, despite elongated sales cycles, Planisware welcomed a significant number of new clients from a wide range of industries, further diversifying its customer base and solidifying its position as a trusted partner for organizations of all sizes. Revenue growth is driven both by contracts with new customers and the expansion of Planisware’s solutions and services within its existing customer base.

    In 2024, Planisware’s customer loyalty remained high, as translated in the 121% Net Retention Rate* (NRR), reflecting Planisware ability to grow within its installed base. At 2.2% of revenue, 2024 churn rate* remained low thanks to Planisware’ ability to leverage strong product capabilities and high industry recognition, resulting in high customer loyalty.

    FY 2024 key financial figures

    In € million FY 2024 FY 2023 Variation
    YoY
    Total revenue 183.4 156.4 +17.3%
    Cost of sales -50.1 -45.1 +11.1%
    Gross profit 133.3 111.3 +19.8%
    Gross margin 72.7% 71.2% +150 bps
    Operating expenses -81.5 -68.4 +19.1%
    Current operating profit 51.8 42.9 +20.8%
    Other operating income & expenses -5.7 3.0  
    Share of profit of equity-accounted investees**              – 0.3 -100.0%
    Operating profit 46.1 46.2 -0.1%
    Profit for the period 42.7 41.8 +2.1%
           
    Adjusted EBITDA* 64.6 52.2 +23.7%
    Adjusted EBITDA margin* 35.2% 33.4% +180 bps
           
    Adjusted FCF* 54.6 43.8 +24.5%
    Cash Conversion Rate* 84.5% 84.0% +60 bps
    Net cash position* 176.1 142.6 +23.5%

    * Net of tax
    ** Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document

    Gross profit

    Cost of sales increased by €+5.0 million (or +11.1%) year-on-year to € 50.1 million. As a percentage of revenue, cost of sales decreased by -150 basis points thanks to a continued strict monitoring of costs, in particular with respect to recruitment, and the internalization of outsourced services.

    This enabled Planisware to deliver a € 133.3 million gross profit (+19.8% year-on-year), representing a 72.7% gross margin, a significant improvement of c. +150 basis points compared to 71.2% in 2023.

    Operating profit

    R&D expenses, consisting primarily of staff expenses directly associated with R&D teams, as well as amortization of capitalized development costs and the benefits from the French research tax credit, reached € 22.2 million and represented 12% of revenue compared to 13% in 2023. While Planisware intends to maintain a high level of R&D spending, the R&D efficiency improves thanks to the deployment of AI tools, boosting the Group’s ability to leverage its R&D efforts to provide innovative products and software solutions, expand its offering portfolio and promote its offerings in the project management market. In 2024, capitalized development costs amounted to € 2.5 million, +21.9% compared to € 2.0 million in 2023.

    Reaching € 33.3 million in 2024 (18% of revenue), Sales & marketing expenses increased by +23.1% compared to 2023, led in particular by the increase in employee-related costs in the salesforce and marketing team. Sales & marketing expenses are expected to increase in absolute amounts in the future as Planisware plans on strengthening its leading market position.

    Representing 14% of revenue in 2024, as in 2023, General & administrative expenses reached € 26.0 million. Planisware continued to strengthen its global support functions to contribute to the growth of the business and the international expansion of the Group. Planisware expects that, as the Company continues to scale up in the future, General & administrative expenses will slightly decrease as a percentage of revenue.

    As a result, current operating profit reached € 51.8 million in 2024, up by +20.8% compared to 2023.

    Other operating income & expenses amounted to a net expense of € 5.7 million related to IPO costs.

    As a results of the above, operating profit reached € 46.1 million in 2024, stable compared to € 46.2 million in 2023, which benefited from € 7.5 million non-taxable gains on remeasurement at fair value of investments in associates.

    Adjusted EBITDA

    Adjusted EBITDA** reached € 64.6 million, a strong increase compared to 2023 (€+12.4 million, or +23.7%). It represented 35.2% of 2024 revenue, c. +180 basis points compared to 33.4% in 2023. The increase of adjusted EBITDA reflects the revenue growth, a positive mix effect, and further efficiency gains on employee-related costs, in particular on R&D spending benefitting from increased usage of AI tools.

    Profit for the period and dividend

    Reaching € 5.4 million in 2024, financial income significantly increased compared to € 2.5 million in 2023. This was primarily driven by income from time deposits and realized and unrealized gains on marketable securities, as well as foreign exchange gains and losses arising from the revaluation at closing rates of cash and cash equivalents held in foreign currencies.

    Income tax expense amounted to € 8.8 million in 2024, up by +27.8% compared to € 6.9 million in 2023, in line with taxable profit increase.

    As a result of these evolutions, profit for the period reached € 42.7 million in 2024, up by +2.1% compared to 2023.

    Finally, subject to the approval of the Annual General Meeting of the Company’s shareholders and effective approbation of 2024 consolidated financial statements by the Board of directors, and in line with its historical dividend distribution, the Group will pay a dividend representing 50% of its profit for the period. This would represent € 21.4 million or € 0.31 per share.

    Cash generation and net cash position

    Reflecting the growth of subscription contracts billed in advance of the services rendered, change in working capital was €+2.5 million, compared to €+3.6 million in 2023 which benefited from a catch-up effect form negative change in 2022. Capital expenditures totaled € 5.5 million, representing 3.0% of revenue, compared to € 4.9 million in 2023 (3.1% of revenue), in line with the usual c. 3% level targeted. Tax paid in 2024 was € 8.4 million compared to € 7.5 million in 2023.

    As a result, Cash Conversion Rate* reached 84.5%, above the 80% level that the Group considers being the normative Cash Conversion Rate for the coming years, and adjusted Free Cash Flow* totaled € 54.6 million, +24.5% compared to € 43.8 million in 2023.

    As of December 31, 2024, except for lease liabilities related to offices and datacenter facilities which amounted to € 17.0 million (€ 14.9 million as of December 31, 2023) and small amounts of bank overdrafts, Planisware did not have any financial debt. As a result, the Group’s net cash position* as of December 31, 2024 amounted to € 176.1 million, compared to € 142.6 million as of December 31, 2023.

    2025 objectives

    Taking into account its strong commercial pipeline on one hand and uncertainties in the timing of contract starts and the evolution of sales cycle length on the other hand, Planisware’s 2025 objectives are:

    • Mid-to-high teens revenue growth in constant currencies
    • c. 35% adjusted EBITDA margin*
    • Cash Conversion Rate* of c. 80%

    Appendices

    Q4 2024 revenue by revenue stream

    In € million Q4 2024 Q4 2023 Variation
    YoY
    Variation
    in cc*
    Recurring revenue 44.7 38.3 +16.7% +16.2%
    SaaS & Hosting 22.4 17.9 +25.3% +24.8%
    Annual licences 1.1 N/A N/A
    Evolutive support 12.8 12.2 +5.0% +4.6%
    Subscription support 3.4 3.1 +9.8% +9.0%
    Maintenance 5.0 5.1 -2.5% -2.8%
    Non-recurring revenue 5.2 5.8 -11.2% -11.5%
    Perpetual licenses 1.3 2.1 -36.4% -36.7%
    Implementation & others non-recurring 3.8 3.7 +3.1% +2.8%
    Total revenue 49.9 44.1 +13.0% +12.5%

    * Revenue evolution in constant currencies, i.e. at Q4 2023 average exchange rates

    Non-IFRS measures reconciliations

    In € million FY 2024 FY 2023
    Current operating profit after share of profit of equity-accounted investee 51.8 43.2
    Depreciation and amortization of intangible, tangible and right-of-use assets 7.7 7.2
    Share-based payments 5.1 1.9
    Adjusted EBITDA** 64.6 52.2
    In € million FY 2024 FY 2023
    Net cash from operating activities 59.0 47.3
    Capital expenditures -5.5 -4.9
    Other finance income/costs -4.7 -2.8
    IPO costs paid 5.7 4.2
    Adjusted Free Cash Flow** 54.6 43.8

    ** Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document

    FY 2024 revenue Investors & Analysts conference call

    Planisware’s management team will host an international conference call on February 27, 2025 at 8:00am CET to details FY 2024 performance and key achievements, by means of a presentation followed by a Q&A session. The webcast and its subsequent replay will be available on planisware.com.

    Upcoming event

    • April 29, 2025:                 Q1 2025 revenue publication
    • June 19, 2025:                 Annual General Meeting of shareholders
    • July 31, 2025:                 H1 2025 results publication
    • October 21, 2025:         Q3 2025 revenue publication

    Contact

    About Planisware

    Planisware is a leading business-to-business (“B2B”) provider of Software-as-a-Service (“SaaS”) in the rapidly growing Project Economy. Planisware’s mission is to provide solutions that help organizations transform how they strategize, plan and deliver their projects, project portfolios, programs and products.

    With circa 750 employees across 16 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities.

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”).

    For more information, visit: https://planisware.com/ and connect with Planisware on LinkedIn.

    Disclaimer

    The primary financial statements for the year ended December 31, 2024 were approved by the Board of Directors on February 26, 2025. The audit procedures and verifications related to the information contained in the sustainability report are in progress. The full consolidated financial statements will be published on completion of these procedures.

    Forward-looking statements

    This document contains statements regarding the prospects and growth strategies of Planisware. These statements are sometimes identified by the use of the future or conditional tense, or by the use of forward-looking terms such as “considers”, “envisages”, “believes”, “aims”, “expects”, “intends”, “should”, “anticipates”, “estimates”, “thinks”, “wishes” and “might”, or, if applicable, the negative form of such terms and similar expressions or similar terminology. Such information is not historical in nature and should not be interpreted as a guarantee of future performance. Such information is based on data, assumptions, and estimates that Planisware considers reasonable. Such information is subject to change or modification based on uncertainties in the economic, financial, competitive or regulatory environments.

    This information includes statements relating to Planisware’s intentions, estimates and targets with respect to its markets, strategies, growth, results of operations, financial situation and liquidity. Planisware’s forward-looking statements speak only as of the date of this document. Absent any applicable legal or regulatory requirements, Planisware expressly disclaims any obligation to release any updates to any forward-looking statements contained in this document to reflect any change in its expectations or any change in events, conditions or circumstances, on which any forward-looking statement contained in this document is based. Planisware operates in a competitive and rapidly evolving environment; it is therefore unable to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the occurrence of a risk or combination of risks could have significantly different results from those set out in any forward-looking statements, it being noted that such forward-looking statements do not constitute a guarantee of actual results.

    Rounded figures

    Certain numerical figures and data presented in this document (including financial data presented in millions or thousands and certain percentages) have been subject to rounding adjustments and, as a result, the corresponding totals in this document may vary slightly from the actual arithmetic totals of such information.

    Variation in constant currencies

    Variation in constant currencies represent figures based on constant exchange rates using as a base those used in the prior year. As a result, such figures may vary slightly from actual results based on current exchange rates.

    Non-IFRS measures

    This document includes certain unaudited measures and ratios of the Group’s financial or non-financial performance (the “non-IFRS measures”), such as “recurring revenue”, “non-recurring revenue”, “gross margin”, “Adjusted EBITDA”, “Adjusted EBITDA margin”, “Adjusted Free Cash Flow”, “cash conversion rate”, “Net cash position”, “churn rate” and “Net Retention Rate” (or “NRR”). Non-IFRS financial information may exclude certain items contained in the nearest IFRS financial measure or include certain non-IFRS components. Readers should not consider items which are not recognized measurements under IFRS as alternatives to the applicable measurements under IFRS. These measures have limitations as analytical tools and readers should not treat them as substitutes for IFRS measures. In particular, readers should not consider such measurements of the Group’s financial performance or liquidity as an alternative to profit for the period, operating income or other performance measures derived in accordance with IFRS or as an alternative to cash flow from (used in) operating activities as a measurement of the Group’s liquidity. Other companies with activities similar to or different from those of the Group could calculate non-IFRS measures differently from the calculations adopted by the Group.

    Non-IFRS measures included in this document are defined as follows:

    • Adjusted EBITDA is calculated as Current operating profit including share of profit of equity-accounted investees, plus amortization and depreciation as well as impairment of intangible assets and property, plant and equipment, plus either non-recurring items or non-operating items.
    • Adjusted EBITDA margin is the ratio of Adjusted EBITDA to total revenue.
    • Adjusted FCF (Free Cash Flow) is calculated as cash flows from operating activities, plus IPO costs paid, if any, less other financial income and expenses classified as operating activities in the cash-flow statement, and less net cash relating to capital expenditures.
    • Cash Conversion Rate is defined as Adjusted FCF divided by Adjusted EBITDA. Planisware considers Cash Conversion Rate to be a meaningful financial measure to assess and compare the Group’s capital intensity and efficiency.
    • Net cash position is defined as Cash minus indebtedness excluding lease liabilities.
    • Net Retention Rate (NRR) is the percentage of recurring revenue generated in a given year compared to the prior year by customers’ existing in the prior year, excluding terminated contracts, in constant currency.
    • Churn rate is defined as percentage of recurring revenue generated in year N-1, by customers terminating in year N, compared to recurring revenues generated by clients existing at the start of year N, in constant currency.

    1 Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document.

    Attachment

    The MIL Network

  • MIL-OSI Australia: Local outbreak of measles in Victoria

    Source: Government of Victoria 3

    Key messages

    • An outbreak of measles has been identified in Victoria, after two new cases were reported who likely acquired their infection in metropolitan Melbourne. These cases have had no history of overseas travel or known contact with other cases of measles.
    • These cases were infectious at multiple locations around Melbourne and Greater Bendigo. People who have attended a listed exposure site during the specified dates and times should monitor for symptoms of measles and follow the instructions below.
    • Measles is a highly infectious viral illness that can spread from person-to-person and potentially lead to serious health complications including pneumonia and brain inflammation (encephalitis).
    • Anyone who develops symptoms of measles should seek medical care and testing for measles. Wear a face mask and call ahead to make sure you can be isolated from others.
    • Healthcare professionals should be alert for measles in patients with fever and rash, particularly those who have recently returned from overseas or attended a listed exposure site during the specified period.
    • Clinicians should also consider measles in people with compatible symptoms who have spent time in metropolitan Melbourne in the prior 7 to 18 days.
    • Suspected cases should be tested, advised to isolate, and notified to the Department of Health immediately by calling 1300 651 160.
    • All Victorians are eligible to receive the free measles-mumps-rubella (MMR) vaccine if born during or after 1966. Two doses are required for immunity.
    • Victorians born between 1966 and 1992 may not have received two doses of vaccine. If you are unsure, see an immunisation provider now to ask for an MMR vaccine.
    • Anyone planning overseas travel should make sure they have received appropriate travel vaccinations, including the MMR vaccine. This is especially important for anyone planning on travelling to South and South-East Asia, including Vietnam.

    What is the issue?

    Two new cases of measles have been reported in Victoria that have not travelled overseas, and have no known links to recent cases of measles. These cases were infectious at multiple locations in Greater Bendigo and metropolitan Melbourne. This means there is now local transmission of measles in the community.

    Measles is a highly infectious viral illness that can lead to uncommon but serious complications, such as pneumonia and brain inflammation (encephalitis). There have been 8 cases of measles identified in Victoria in 2025.

    A number of populations in Victoria are susceptible to measles, including anyone who is unvaccinated, infants under 12 months of age, immunocompromised people and adults who were born between 1966 and 1992 who may not have received two MMR vaccines in childhood.

    Any overseas travel could also lead to exposure to measles, with outbreaks reported in multiple countries and regions, including Vietnam, Thailand, India, Africa, Europe and the UK, the Middle East, and the USA.

    Active public exposures sites in Victoria for recent cases are listed in the table below.

    Date Time Location Monitor for onset of symptoms up to
    Wednesday 26 February 2025 12:01am to 12:25am

    The Royal Melbourne Hospital Emergency Department

    300 Grattan St, Parkville VIC 3050

    Sunday 16 March 2025
    Tuesday 25 February 2025 5:20pm to 12:00am (midnight)

    The Royal Melbourne Hospital-Emergency Department

    300 Grattan St, Parkville VIC 3050

    Saturday 15 March 2025
    Tuesday 25 February 2025 11:00am to 12:00pm (mid-day)

    DiagnostiCare Specialist Radiology Clinic

    Unit 46/235 Milleara Rd, Keilor East VIC 3033

    Saturday 15 March 2025
    Tuesday 25 February 2025 10:00am to 11:00am

    Australian Clinical Labs

    Eastbrooke Family Clinic Lincolnville, 493-495 Keilor Road, Niddrie VIC 3042

    Saturday 15 March 2025
    Tuesday 25 February 2025 9:00am to 11:00am

    Eastbrooke Family Clinic Lincolnville

    493-495 Keilor Road, Niddrie VIC 3042

    Saturday 15 March 2025
    Monday 24 February 2025 5:50am to 9:00am

    Bendigo Hospital – Emergency Department

    Bendigo Health, Drought St & Arnold Street, North Bendigo VIC 3550

    Thursday 14 March 2025
    Saturday 22 February 2025 4:30pm to 5:05pm

    Chemist Warehouse Airport West

    Westfield Airport West

    40/29-35 Louis St, Airport West VIC 3042

    Tuesday 12 March 2025
    Saturday 22 February 2025 11:30am to 4:30pm

    Keilor East Leisure Centre Swimming Pool

    84 Quinn Grove, Keilor East VIC 3033

    Tuesday 12 March 2025
    Thursday 20 February 2025 4:30pm to 6:30pm

    Epsom Village

    16-20 Howard St, Epsom VIC 3551

    Monday 10 March 2025
    Thursday 20 February 2025 5:50pm to 6:30pm

    Epsom Village Pizza

    Shop 8/16-20 Howard St, Epsom VIC 3551

    Monday 10 March 2025
    Thursday 20 February 2025 5:20pm to 6:15pm

    Chemist Warehouse Epsom

    S/C 16 to Shops 1 to 3/40 Howard St, Epsom VIC 3551

    Monday 10 March 2025
    Thursday 20 February 2025 5:10pm to 5:45 pm

    Woolworths Epsom

    16/40 Howard St, Bendigo VIC 3550

    Monday 10 March 2025
    Thursday 20 February 2025 4:30pm to 5:45pm

    Aldi Epsom

    182/192 Midland Hwy, Epsom VIC 3551

    Monday 10 March 2025
    Thursday 20 February 2025 12:30pm to 01:05pm

    Coles Bendigo

    Williamson St & Myers St, Bendigo VIC 3550

    Monday 10 March 2025
    Wednesday 19 February 2025 4:00pm to 5:30pm

    Oscar Nails and Beauty

    305a Buckley St, Aberfeldie VIC, 3040

    Sunday 9 March 2025
    Wednesday 19 February 2025 8:30pm to 9:05pm

    Lansell Square

    267 High St, Kangaroo Flat VIC 3555

    Sunday 9 March 2025
    Wednesday 19 February 2025 8:30 pm to 9:05pm

    Coles Lansell Square

    267 – 283 High St, Kangaroo Flat VIC 3555

    Sunday 9 March 2025
    Wednesday 19 February 2025: 4:00pm to 5:00pm

    Highpoint Shopping Center

    120-200 Rosamond Rd, Maribyrnong VIC 3032

    Sunday 9 March 2025
    Wednesday 19 February 2025 4:00pm to 5:00pm

    Timezone Highpoint

    Level 1 Highpoint Shopping Centre 120-200 Rosamund Rd, Maribyrnong VIC 3032

    Sunday 9 March 2025

    Anyone who has attended a listed exposure site during the specified times above should monitor for symptoms and seek medical care if symptoms develop for up to 18 days after the exposure and follow the recommendations below.

    In addition, anyone who presents with signs and symptoms compatible with measles should be tested and notified to the Department of Health immediately. There should be an especially high level of suspicion if they have travelled overseas or visited any of the sites listed above and are unvaccinated or partially vaccinated for measles.

    Who is at risk?

    Anyone born during or since 1966 who does not have documented evidence of having received two doses of a measles-containing vaccine, or does not have documented evidence of immunity, is at risk of measles. This is also known as being susceptible to measles.

    Unvaccinated infants are at particularly high risk of contracting measles. Victorians born between 1966 and 1992 may not have received two doses of vaccine, which are required to provide immunity.

    Young infants, pregnant women and people with a weakened immune system are at increased risk of serious complications from measles.

    Symptoms and transmission

    Symptoms of measles include fever, cough, sore or red eyes (conjunctivitis), runny nose, and feeling generally unwell, followed by a red maculopapular rash. The rash usually starts on the face before spreading down the body. Symptoms can develop between 7 to 18 days after exposure.

    Initial symptoms of measles may be similar to those of COVID-19 and influenza. If a symptomatic person tests negative for COVID-19 and/or influenza but develops a rash, they should be advised to continue isolating and be tested for measles.

    People with measles are considered infectious from 24 hours prior to the onset of initial symptoms until 4 days after the rash appears. Measles is highly infectious and can spread through airborne droplets or contact with nose or throat secretions, as well as contaminated surfaces and objects. The measles virus can stay in the environment for up to 2 hours.

    Figures: Example of a typical measles rash

    Recommendations

    For the general public

    • Anyone who has attended a listed exposure site during the specified date and time should monitor for symptoms and seek medical care if symptoms develop for up to 18 days after the exposure.
    • Anyone who attended a listed exposure site and is not fully vaccinated for measles may be eligible to receive the MMR vaccine if they present within 72 hours (3 days) of exposure. Anyone who is immunocompromised or pregnant and not fully vaccinated for measles should seek medical review if within 6 days of exposure to a measles case.
    • Anyone who develops symptoms of measles should seek medical care and testing for measles. Call the health service beforehand to advise that you may have been exposed to measles and wear a face mask.
    • The measles-mumps-rubella (MMR) vaccine provides safe and effective protection against measles. The MMR vaccine is available for free:
      • on the National Immunisation Program, routinely given at 12 months and 18 months of age.
      • for anyone born during or after 1966 who have not already received two doses of measles-containing vaccine, are unsure of their vaccination status, or do not have evidence of immunity to measles.
      • for young infants aged 6 to 12 months prior to overseas travel to countries where measles is endemic or where outbreaks of measles are occurring. If an infant receives an early dose of MMR vaccine prior to travel, they should still receive routine doses at 12 months and 18 months of age as per the National Immunisation Program schedule.
    • Victorians born between 1966 and 1992 may not have received two doses of vaccine. If you are unsure, see an immunisation provider now to ask for an MMR vaccine. Two doses are required for immunity.
    • Anyone planning overseas travel should make sure they have received appropriate travel vaccinations, including MMR vaccination.

    For health professionals

    • For persons who have attended an exposure site, anyone who is not fully vaccinated for measles may be eligible to receive the MMR vaccine if they present within 72 hours (3 days) of exposure. Anyone who is immunocompromised or pregnant and not fully vaccinated for measles may be eligible to receive normal human immunoglobulin (NHIG) if they present up to 144 hours (6 days) after close exposure to a measles case.
    • Clinicians should be alert for measles in patients presenting with compatible illness if they have travelled overseas or attended a listed exposure site during the specified dates and times and are not fully vaccinated against measles.
    • These new cases now indicate local transmission of measles within Victoria. Clinicians should also consider measles in people with compatible symptoms who have spent time in metropolitan Melbourne in the prior 7 to 18 days.
    • Anyone who presents with signs and symptoms compatible with measles should be tested, isolated and notified to the Department of Health immediately, by calling 1300 651 160 and connecting to the relevant Local Public Health Unit.
    • Discuss the need for polymerase chain reaction (PCR) testing using nose and throat swabs with the Local Public Health Unit (PCR testing for measles does not attract a Medicare rebate).
    • Take blood samples for measles serology in all suspected cases.
    • Minimise the risk of measles transmission within your practice/department/community:
      • avoid keeping patients with fever and rash in shared waiting areas (send to a separate room).
      • if measles is suspected, give the patient a single use, fitted face mask and isolate under airborne precautions until a measles diagnosis can be excluded.
      • leave all rooms that were used to assess the suspected case vacant for at least 30 minutes after the consultation.
      • if returning home, patients should isolate at home until test results are available.
    • Offer MMR vaccine to people born during or after 1966 who do not have documented evidence of receiving two doses of a measles-containing vaccine or documented evidence of immunity.
    • Serology is not required before vaccinating.
    • People who are not Medicare eligible can also receive the free MMR vaccine. Refer to the Australian Immunisation Handbook – MeaslesExternal Linkfor further guidance on immunisation.

    MIL OSI News

  • MIL-Evening Report: Why does music make us feel things?

    Source: The Conversation (Au and NZ) – By Katrina McFerran, Professor and Head of Creative Arts and Music Therapy Research Unit; Director of Researcher Development Unit, The University of Melbourne

    Al Cruz/Unsplash

    Imagine a scene from the movie Jaws, with the great white shark closing in on another helpless victim. The iconic semi-tone pattern builds and your heartbeat rises with it; the suspense pulls you further to the edge of your seat.

    Now picture that scene without the score. Much of the tension evaporates.

    Maybe it’s a heartfelt pop ballad or a suspenseful soundtrack. If you are my age, it might be the Friends theme song, forever associated with the (largely unfulfilled) hope for sharing apartments with mates and growing old together in a blissful acceptance of one another’s limitations. Music is a powerful force to induce and pre-empt all kinds of emotions in us.

    But how do so many different combinations of rhythm, harmony and melody trigger such profound reactions?

    The categorical approach

    Swedish music psychology researcher Patrik Juslin proposed the most popular explanation of music’s ability to trigger emotion.

    He identified eight key mechanisms under the acronym BRECVEMA. The categories begin with more fundamental connections:

    Brain stem reflexes – maybe a movie jumpscare moment or another sudden, frightening sound triggering a pre-conscious response. Evolution programmed these reactions into the brain over thousands of years in order to influence arousal levels and initiate the necessary emotional response.

    Rhythmic entrainment, like the tendency to tap your foot to the beat; the benefits of moving in time together have been critical to human survival and evolution.

    Then, the listings become increasingly complex:

    Evaluative conditioning in the fashion of Pavlov’s dog. After years of watching and cultural references, we hear the Jaws music and automatically feel tense.

    The contagion effect, wherein we feel the emotions we perceive in the music. Lyrics aren’t necessary; the Peanuts cartoon’s signature tune, for example, strongly conveys childhood wonder and freedom without any words.

    The visual imagery many people experience when listening to music, imagery which is often tied to some deep emotion.

    Episodic memories, when hearing certain music brings up recollections of a past event. Music therapists can monitor the emotional reactions people have when unexpectedly reminded of particular situations, be they positive, negative or both. The therapists then use their expertise to support people in processing these resulting emotions.

    From there, Juslin’s model gets more technical and music theory-based:

    Musical expectancy, when we anticipate the resolution of a chord or phrase. This is something you might feel rather than consciously notice. Take My Heart Will Go On: a delicate tension builds through the chorus, before finally resolving as Celine Dion sings the final line of the section and listeners are put to ease.

    Aesthetic judgements, closely related to the ways we experience pleasure, are our personal emotional responses to how beautiful (or not) we consider a piece of music.




    Read more:
    Different songs for different days: why it’s important to actively choose the music for your mood


    It makes sense that a theory using the brain to explain otherwise indescribable relationships would be popular. It provides a level of objectivity to what is, in essence, a purely subjective and non-generalisable experience.

    Celine Dion keeps listeners on tenterhooks before the chorus comes to a beautifully satisfying resolution.

    Is it just about neurological pathways?

    Evolutionary theories suggest music and emotions are connected because of the inherent musicality we are each born with, essential to our ability to develop relationships and flourish.

    Parent-infant interactions often have musical aspects to them, described as:

    • pulse, a shared tempo, where infant and carer move in time together and synchronise to one underlying beat

    • quality, the character and melodic interplay of voices and movements, mirroring one another in dynamics and timbre

    • narrative, the tendency for the same phrases, gestures and movements to be repeated on the same pitch and pace over time.

    When responding to musical sounds, babies are also able to recognise musical phrases even when they start on a different note.

    Subsequently, however, other learning and our limited brain capacity mean this ability is buried deep, so it rarely translates to perfect pitch or other forms of music theory knowledge that underpin Mozart-like genius.

    A mother, laying on a bed, holds her smiling baby up on her chest.
    All of us are born with an inherent musicality.
    FamVeld/Shutterstock

    This baby-talk theory may be the most intimate and emotion-based explanation for why music affects us so strongly – it was designed to enhance our emotional bonds with others. When adults coo and dance with babies, they are being musical, meaning emotional reactions to music are implicit in human nature.

    Cognitive developmental theorists like Steven Pinker have opinions firmly in contrast to this. Pinker calls music “evolutionary cheesecake”, functioning only to tickle the senses and serving no evolutionary purpose.

    Pleasure for purpose

    Cultures across the world have long acknowledged the healing power of music.

    Sound healing practitioners in India and China, for example, point to ancient traditions of healing and draw correlations between recovery from illness and certain tones, scales and chants. Some suggest the vibrations of different tones can serve specific purposes.

    In the West, the idea of emotional differences between major and minor scales still has public traction even though its academic credibility hasn’t really extended in the past 100 years.

    None of these concepts have been used in the modern practice of music therapy, but they do reflect assumptions many people hold about how music works.

    Instead, a fundamental principle of music therapy is based on how each person’s unique connections with music shapes their emotional reactions. What moves your sibling to tears might leave you cold, for example. It always depends on a range of conditions – historical, cultural and personal.

    Cultural upbringing, simple song-like phrases from infancy and our own unique musical preferences and behaviours all shape these connections. They’re powerful, but they sure ain’t simple.

    The Conversation

    Katrina McFerran has received funding from the Australian Research Council to investigate music and emotions. She is affiliated with the Australian Music Therapy Association.

    ref. Why does music make us feel things? – https://theconversation.com/why-does-music-make-us-feel-things-250756

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 27, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 50,000
    Total amount of bids received (in ₹ crore) 49,955
    Amount allotted (in ₹ crore) 49,955
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.27
    Partial Allotment Percentage of bids received at cut off rate (%) N.A.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2255

    MIL OSI Economics

  • MIL-OSI USA: 02.26.2025 Sen. Cruz, Rep. Roy Reintroduce RESULT Act to Increase Access to Life-Saving Medical Care

    US Senate News:

    Source: United States Senator for Texas Ted Cruz
    WASHINGTON, D.C. – U.S. Senator Ted Cruz (R-Texas) and U.S. Rep. Chip Roy (R-Texas-21) reintroduced the bicameralReciprocity Ensures Streamlined Use of Lifesaving Treatments (RESULT) Act. The legislation increases access to drugs, devices, and other medical therapies already approved in other trusted countries, facilitating access to life-saving treatments for Americans.
    Upon introduction, Sen. Cruz said, “Washington bureaucracy and regulations far too often interfere with the healthcare decisions of patients and their doctors.  The RESULT Act will facilitate access to life-saving drugs, devices, and medical treatments that are already proven safe and effective in other trusted countries, empowering patients to access the medications they need to improve their health. I’m proud to be advancing it, and I call upon my colleagues to expeditiously take it up and pass it.”
    Sen. Lee said, “Americans should have access to the very best medicines and treatments in the world, without government bureaucrats standing in the way. This legislation will strengthen medical freedom, increase healthcare options for patients, and allow the most brilliant innovations from our trusted allies across the globe to help countless families in the United States.”
    Rep. Roy said, “Waiting for a pencil-pusher in Washington to green-light medications that are already approved in other trusted countries is the epitome of the bureaucratic nightmare that has plagued our healthcare system. This bill would cut through a wall of red tape that separates Americans from getting the care that they need, which means prioritizing their healthcare freedom.”
    This legislation was also cosponsored by Sen. Mike Lee (R-Utah).
    Companion legislation was introduced in the House by Rep. Chip Roy (R-Texas-21).
    Read the bill text here.
    BACKGROUND
    The RESULT Act amends the Food, Drug and Cosmetic Act to allow for reciprocal approval of drugs, devices and biologics approved in certain trusted countries, including the UK, EU member countries, Israel, Australia, Canada, and Japan. Sen. Cruz previously introduced the bill in 2023 and 2021.

    MIL OSI USA News

  • MIL-OSI Economics: Money Market Operations as on February 25, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 5,94,039.41 6.24 5.15-6.65
         I. Call Money 14,886.68 6.31 5.15-6.65
         II. Triparty Repo 4,19,180.40 6.23 5.90-6.35
         III. Market Repo 1,58,098.13 6.28 5.75-6.45
         IV. Repo in Corporate Bond 1,874.20 6.45 6.45-6.45
    B. Term Segment      
         I. Notice Money** 62.30 6.22 5.80-6.35
         II. Term Money@@ 749.00 6.40-7.50
         III. Triparty Repo 374.00 6.32 6.25-6.40
         IV. Market Repo 2,090.71 6.37 6.30-6.61
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 25/02/2025 2 Thu, 27/02/2025 75,012.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 25/02/2025 1 Wed, 26/02/2025 817.00 6.50
      Tue, 25/02/2025 2 Thu, 27/02/2025 78.00 6.50
    4. SDFΔ# Tue, 25/02/2025 1 Wed, 26/02/2025 1,02,416.00 6.00
      Tue, 25/02/2025 2 Thu, 27/02/2025 10,425.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -36,934.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 21/02/2025 14 Fri, 07/03/2025 41,046.00 6.26
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Fri, 21/02/2025 45 Mon, 07/04/2025 57,951.00 6.26
      Fri, 14/02/2025 49 Fri, 04/04/2025 75,003.00 6.28
      Fri, 07/02/2025 56 Fri, 04/04/2025 50,010.00 6.31
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       9,095.71  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     2,33,105.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     1,96,171.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on February 25, 2025 9,47,293.60  
         (ii) Average daily cash reserve requirement for the fortnight ending March 07, 2025 9,22,740.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ February 25, 2025 75,012.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on February 07, 2025 -1,973.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2024-2025/2013 dated January 27, 2025, Press Release No. 2024-2025/2138 dated February 12, 2025, and Press Release No. 2024-2025/2209 dated February 20, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2254

    MIL OSI Economics

  • MIL-OSI Submissions: Universities – Call for action in Vietnam to make low-emission food system reforms – Flinders

    Source: Flinders University

    While food systems account for up to 30% of total global greenhouse gas emissions, Vietnam is holding high-level talks aimed at creating more sustainable farming systems in the country’s ‘food bowl,’ the Mekong Delta region.

    However, public policy experts are asking whether an extended series of government and large organisations running high-level multistakeholder forums (MSFs) is the best approach – and with few signs of low-emission food production systems commencing since the forums started almost 30 years ago.

    Based on policy and literature reviews and interviews with 40 organisations in Vietnam, the Vietnamese researchers led by experts from Nong Lam University have joined Flinders University Professor in Public Policy Thuy Pham to highlight the need for policymakers and

    MSF organisers to learn and implement important ‘real-world’ changes to greenhouse gas emissions and equity in society.

    “Our investigations on the impact of 17 MSFs in Vietnam show they have shared some valuable knowledge but all this has generally made little contribution to outcomes on emissions, climate change mitigation and equity in communities,” says Professor Pham, from Flinders University’s College of Business, Government and Law.

    “Current MSFs operate at different scales – regional, national, provincial – targeting different stakeholder groups for different objectives and outcomes,” she says, of a new article published in the World Development Perspectives journal.

    “This means there is a lack of effective discussion across the groups, and not all stakeholders know about the forums, so limiting opportunities for collaboration, information sharing, networking and resource efficiency.”

    “Rather than running more MSFs, we recommend that the great ideas produced at these forums should be used by policymakers to make progress on emission targets in food production, and in turn on equity.”

    The researchers suggest that key policymakers should learn from and work with existing MSFs, rather than establish new ones and waste time.  

    They say reducing emissions and more sustainable food production requires holistic, cross-sectoral and multilevel solutions developed by multiple stakeholders. Technical solutions need to align with transformative governance and wide-ranging and inclusive stakeholder engagement with all players in food systems – while taking into account the interests and perspectives of these different stakeholders.

    Coauthor of the study Dr Tang Thi Kim Hong, from the Nong Lam University in Ho Chi Minh City, says Vietnam’s policies on emission reductions and food systems – such as its Nationally Determined Contribution, and Resolution 34 on national food security until 2030 – require the participation of all sectors, state and non-state stakeholders as well as local communities and ethnic minorities.

    “It is important, therefore, to analyse the degree to which a low-emission food system in the Mekong Delta is inclusive, and to assess whether all stakeholders or affected parties and their interests are represented in the decision-making process.”

    While MSFs are designed to be “bring together a range of stakeholders to participate in decision-making and/or implementation in order to address a land, climate or resource problem or to achieve a common goal,” too often they are led and controlled by ‘powerful’ stakeholders who have funds, access to knowledge and political networks. This leaves local communities, Indigenous people and women behind, researchers say.

    “We would suggest that key policymakers and funding agencies should learn from, and work with, existing MSFs to understand what works, what doesn’t, what works best and where, when and for whom, before establishing new ones,” adds Professor Pham, who is also affiliated with the Center for International Forestry Research in Indonesia (CIFOR).

    “These MSFs should also ensure and empower disadvantaged groups such as Indigenous people local communities, women and youth to take the ownership, leadership and have a voice in how these MSFs should be run and operated, and how they can meaningfully address the on-ground problems.”

    The article, ‘Multistakeholder forums in the Mekong Delta, Vietnam: Stakeholders’ perspectives regarding their outcomes and effectiveness for low-emission food systems’ (2025) by Thu Thuy Pham, Thi Kim Hong Tang, Vy Thao Ngo, Ngoc My Hoa Tran, Thi Thuy Anh Nguyen, Thi Van Anh Nguyen, Trung Son Nguyen and Dinh Yen Khue Nguyen has been published in World Development Perspectives DOI:10.1016/j.wdp.2025.100661.

    Professor Thuy Pham, based at the Flinders College of Business, Government and Law, also is affiliated with the Center for International Forestry Research (CIFOR) in Indonesia. Other corresponding authors from Vietnam’s Nong Lam University – Dr Kim Tang, from the Faculty of Forestry, and Dr Thao Ngo, from the Faculty of Environment and Natural Resources, contributed equally to the study.

    Food systems account for up to 30% of total global greenhouse gas emissions when accounting for all elements and stakeholders (environment, people, inputs, processing, infrastructure, institutions, etc), according to an FAO report. This includes activities related to the production, processing, distribution, preparation, use, and sale of food, and the outputs of these activities, including socio-economic and environment.

    MSFs aim to bring together multiple stakeholders, including farmers and community groups, to develop climate solutions and make meaningful, on-the-ground reforms to set up low-emission food systems and improve equity.

    MIL OSI – Submitted News

  • MIL-OSI Economics: Samsung Receives 58 Accolades at iF Design Awards 2025

    Source: Samsung

    Samsung Electronics today announced that it received a total of 58 awards at the International Forum (iF) Design Awards 2025, a prestigious German international design competition. Included among the honors was a Gold Award for Samsung’s Ballie and advanced concept package design for small portable projectors, ‘BOJAGI’.
     
    Founded in 1953 as Die Gute Industrieform e.V., the iF Design Awards evaluates a comprehensive range of factors, including differentiation and impact, across a total of nine categories: Product Design, Packaging Design, Communication Design, Interior Architecture, Professional Concept, Service Design, Architecture, User Experience (UX) and User Interface (UI).
     
    “Innovation with AI can help resonate with our customers through the power of design” said TM Roh, President and Head of the Corporate Design Center at Samsung Electronics. “We will strive to provide designs that harmonize with consumers’ changing lifestyles and contribute to society and the lives of our consumers.”
     
     
    Two Gold Awards Recognize Designs That Offer Customized Experiences for Different Lifestyles

     
    Ballie,1 an AI companion robot for the home, acts as a personal assistant that can autonomously drive around the home to complete various tasks. By connecting to and managing home appliances, Ballie can provide a helping hand to users in many situations — continually learning from users’ patterns and habits to provide smarter, more personalized services.
     

     
    Advanced concept package design for small portable projectors — named as ‘Sustainable Design & Communication, BOJAGI’ — was inspired by a traditional Korean tool called bojagi. The design was implemented using scrap fabric, and was designed to be able to package and sustainably be reused regardless of its shape.
     
     
    58 Awards Ranging From TVs to Home Appliances to Smartphones
    Samsung Electronics’ 58 wins came across all design categories. In addition to the Gold Awards for the ‘Ballie’ and ‘BOJAGI’, Samsung received awards in the Product Design category for the Bespoke AI Laundry Combo , an all-in-one washer and dryer; Galaxy Ring, a wearable device packed with Samsung’s powerful sensor technology and Galaxy AI capabilities to help users keep track of their health by simply wearing it on their finger; and the Neo QLED 8K, a TV that provides an immersive experience with the infinity air design.
     
    Other products and services that were recognized for design excellence include Foldable Galaxy AI UX, Bespoke refrigerator UX and the Newfound Equilibrium exhibition at Milan Design Week 2024. Foldable Galaxy AI UX enables seamless communication anywhere, anytime with AI-based mobile features like Live Translate, which enables easy conversations with someone in another language. And thanks to the dual screen functionality of Galaxy Z series, you can switch your device into FlexMode so both parties can see the conversation translated in a more natural way. Bespoke refrigerator UX provides various experiences that simplify user’s lives, such as managing food lists and controlling connected devices. And the Newfound Equilibrium exhibition showcases Samsung’s user centered design philosophy with an aim to inspire vision for a better future that encompasses the balance between people and technology.
     
     
    1 Will be available in the first half of 2025 and availability may vary by region.

    MIL OSI Economics

  • MIL-OSI China: China to lower asset threshold for HK, Macao institutions investing in mainland insurers

    Source: China State Council Information Office

    The National Financial Regulatory Administration (NFRA) on Wednesday announced that China will lower the asset requirement threshold for Hong Kong and Macao financial institutions to invest in mainland insurers, as part of its efforts to deepen opening-up in the financial sector.

    From March 1, Hong Kong and Macao financial institutions will no longer be required to have assets totaling no less than 2 billion U.S. dollars at the end of the previous year to invest in mainland insurance companies, the NFRA said.

    The adjustment follows agreements signed in October 2024 between the mainland and Hong Kong, as well as between the mainland and Macao, to revise the services trade protocols under the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) and the CEPA between the mainland and Macao. These revisions include changes to the qualification requirements for Hong Kong and Macao financial institutions looking to invest in mainland insurers.

    This latest move is a significant step in expanding financial opening-up, according to the NFRA. It is expected to help mainland insurance companies attract high-quality investors from Hong Kong and Macao financial institutions, strengthen their capital base, and optimize their equity structures. 

    MIL OSI China News

  • MIL-OSI Submissions: Tech – Bridgetown Research raises $19M from Lightspeed and Accel to deploy AI business research agents

    Source: Stockwood Strategy

    Bridgetown Research is building the first AI agents focussed on research and analysis using primary and secondary data for verticals including private equity, consulting and strategy

    Seattle, Washington – February 26, 2025: Strategic business decisions have traditionally been expensive and slow for a fundamental reason: they don’t happen enough. This means companies lack both historical data to learn from and experts who have seen enough similar cases. Bridgetown Research is changing that. Today, the AI decision science startup announced $19 million in Series A funding led by Lightspeed and Accel, with participation from a leading research university.
     
    Bridgetown Research has developed AI agents that autonomously execute research. Most notable amongst these agents are voice bots trained to recruit and interview industry experts, gathering primary data that can be analyzed alongside alternative data sourced from their partners.
     
    Founded by Harsh Sahai, who previously led machine learning teams at Amazon before leading strategy engagements at McKinsey & Co., Bridgetown Research was born from a simple observation: the majority of business analyses are a permutation of a small number of automatable tasks. The founding team, comprising former professionals from McKinsey, Bain, Amazon, and leading tech startups, brings together extensive experience across strategy consulting and technology.
     
    “We are excited to be a catalyst for change. We are working with multiple private equity firms, management consulting firms, and corporate teams to help make strategic decisions better and faster. This in turn is driving up demand for advisory and information services downstream. We enable $10+ of advisory and information services revenue for every $1 we make. Together with leading institutions, we’re building something bigger than ourselves—an ecosystem where everyone thrives,” commented Harsh Sahai, CEO & founder of Bridgetown Research.
     
    While many AI solutions focus on searching and summarizing information using LLMs, real world business decisions require much more than synthesising the open web. They need proprietary data such as primary data from experts and customer surveys, along with frameworks to understand markets, what Harsh Sahai calls “ontologies”. Moreover, outputs need to be repeatable and auditable for a business to use them to make decisions with tens of millions of dollars at stake. Bridgetown Research is the only player using agents to gather primary data and systematically find patterns in it to generate original insights.
    “AI is causing widespread disruptions across many enterprise functions, and Bridgetown Research is riding that wave by assisting executives in making important strategic decisions. We are pleased to see Bridgetown serving several marquee customers, with users likening its platform to having a team of top-tier consultants at their fingertips. We are excited to partner with Harsh, who, with his background as an ace AI research scientist turned management consultant, blends a unique combination of skills and insight needed to imagine this whole new category of applied AI,” said Anagh Prasad, Investor at Accel.

    Bridgetown Research started with a focus on private equity deal screening diligence. Multiple top-tier PE & VC firms already use Bridgetown Research for deal screening and deeper commercial diligence. They’re able to screen their pipeline much faster with initial analysis taking 24 hours instead of weeks without Bridgetown enabling teams to focus on actual decision making instead of research and analysis. For other customers Bridgetown has enabled voice of customer conversations that cover hundreds of respondents in parallel, and within days.
     
    Ishaan Preet Singh, Investor at Lightspeed added “Companies are built on the quality of strategic decisions, and the research and analysis behind it. Bridgetown Research enables the smartest executives and investors to make these decisions with an order of magnitude more information, and at a pace that was earlier impossible. Harsh and Bridgetown are already creating immense value for their customers, but are still just scratching the surface of the leverage that AI can create.”

    As global markets become increasingly complex, the demand for efficient and effective decision-making tools continues to rise. With this funding round, Bridgetown Research plans to invest further in training its AI agents to perform a broader set of analyses across a broader range of domains, and deepening industry partnerships to enhance access to domain-specific intelligence.

    About Bridgetown Research
    Bridgetown Research builds AI agents for decision research. Its voice agents and web crawlers find and clean data, while its analyses agents produce repeatable, auditable, and reliable analyses. The team consists of computer scientists, econometricians, software engineers, investors and business consultants, working across geographies. For more information please visit https://www.bridgetownresearch.com/

    About Accel
    Accel is a global venture capital firm that aims to be the first partner to exceptional teams everywhere (Facebook, Flipkart, etc.), from inception through all phases of private company growth. Accel has been operating in India since 2008, and its investments include companies like BookMyShow, Browserstack, Flipkart, Freshworks, FalconX, Infra.Market, Chargebee, Clevertap, Cure Fit, Musigma, Moneyview, Mensa Brands, Myntra, Moglix, Ninjacart, Swiggy, Stanza Living, Urban Company, Zetwerk, and Zenoti, among many others. We help ambitious entrepreneurs build iconic global businesses. For more, visit: www.accel.com
     
    About Lightspeed
    Lightspeed is a global multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Acceldata, Carta, Cato Networks, Darwinbox, Epic Games, Faire, Innovaccer, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Physics Wallah, Razorpay, Rubrik, Sharechat, Snap, OYO Rooms, Ultima Genomics, Zepto and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsip.com

    MIL OSI – Submitted News

  • MIL-OSI China: Chinese FM holds talks with New Zealand deputy PM

    Source: China State Council Information Office

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Deputy Prime Minister and Foreign Minister of New Zealand Winston Peters in Beijing, China, on Feb. 26, 2025. [Photo/Chinese Ministry of Foreign Affairs]

    Chinese Foreign Minister Wang Yi held talks with Deputy Prime Minister and Foreign Minister of New Zealand Winston Peters in Beijing on Wednesday.

    Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that China-New Zealand relations have maintained sound, steady development and have long been at the forefront of China’s relations with Western countries.

    China is ready to work with New Zealand to implement the important consensus reached by the leaders of the two countries, strengthen strategic communication, and push forward their comprehensive strategic partnership, he said.

    Wang noted that the two sides should adhere to the principle of mutual respect and the correct understanding of each other, and become partners with mutual trust. Certain specific differences can be resolved properly through constructive dialogue.

    Wang said that the two countries should upgrade their economic and trade cooperation, launch negotiations on the negative list for trade in services as soon as possible, and work together to create new growth engines such as artificial intelligence and the green economy.

    Wang said that China has implemented a unilateral visa-free travel policy for New Zealand, and hopes that New Zealand will continue to provide a good environment for Chinese students and overseas Chinese citizens.

    The Asia-Pacific region is the shared home of China and New Zealand, and China respects New Zealand’s traditional relations with Pacific island countries, Wang said.

    Noting that China is an important partner of New Zealand, Peters said that New Zealand will, as always, adhere to the one-China policy and looks forward to developing closer exchange practices with China at all levels. New Zealand also stands ready to strengthen exchange and cooperation with China in fields such as the economy, trade, agriculture and defense, as well as Antarctica, and to deepen communication and coordination on regional and international affairs.

    New Zealand is willing to strengthen cooperation with China within multilateral institutions, and to push for the greater development of bilateral relations, Peters said.

    MIL OSI China News

  • MIL-OSI China: Archaeologists begin to restore northeast platform of Angkor Wat’s Bakan Tower

    Source: China State Council Information Office 3

    Archaeologists on Wednesday started to restore the northeast platform of Angkor Wat’s Bakan Tower in Cambodia’s Angkor Archaeological Park, said an APSARA National Authority (ANA)’s news release.

    A religious ceremony was held at the site to pray for safety and success in the restoration work, the news release said.

    Long Kosal, deputy director-general of the ANA, a government agency responsible for managing, protecting and preserving the Angkor Archaeological Park, said at the event that nearly all parts of the Bakan Tower have been restored, with the exception of this northeast corner.

    He said the restoration work is expected to be completed by mid-2026.

    Kosal said during the restoration process, certain areas of the Bakan Tower were closed to visitors for safety reasons, but access to the entire site remained open, albeit with some restrictions in place.

    “To ensure visitor safety during the restoration process, barriers have been erected around the work areas, and signage has been provided to inform tourists about ongoing repairs and any changes to access routes,” he said.

    The restoration work is carried out by the ANA in partnership with the Korean Heritage Agency, the news release said.

    Built in the 12th century by King Suryavarman II, Angkor Wat is a major temple in the UNESCO-listed Angkor Archaeological Park in the country’s northwest Siem Reap province.

    The 401-square-kilometer Angkor Archaeological Park is home to 91 ancient temples, which were built from the ninth to the 13th centuries.

    The ancient park, which is the kingdom’s most popular tourist destination, attracted a total of 1.02 million international tourists in 2024, generating a gross revenue of 47.8 million U.S. dollars from ticket sales, according to the state-owned Angkor Enterprise. 

    MIL OSI China News

  • MIL-OSI Submissions: Tech and Business – Oracle Services Power IT Modernization in Asia Pacific

    Source: Information Services Group, Inc.

    Enterprises embrace providers with GenAI tools to improve enterprise cloud migrations, optimize Oracle investments, ISG Provider Lens report says.

    A growing number of enterprises in Asia Pacific are seeking Oracle ecosystem services to help them carry out digital transformations to remain competitive in rapidly changing markets, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific finds many large Oracle customers are modernizing legacy systems, navigating cloud migrations and evaluating hyperscale cloud options. Service providers are helping clients optimize their Oracle investments, often with the use of AI tools, while Oracle is increasingly investing in talent development and collaboration in the region, including partnerships with governments in Singapore, Australia and India for large-scale training programs.

    “Companies in Asia Pacific need digital transformation to stay relevant,” said Michael Gale, partner and regional leader, ISG Asia Pacific. “Oracle and its partners are rising to the challenge by strengthening their expertise and developing talent in the region.”

    Large organizations in manufacturing, retail, financial services, consumer packaged goods and the public sector are increasing their use of Oracle services, the report says. In addition to modernization planning and execution, many seek help addressing regional nuances such as data sovereignty and compliance requirements, especially in India, Singapore, Malaysia, Australia and New Zealand.

    Outdated legacy systems are holding back many organizations in the region, leading to rising demand for both consulting and advisory services to plan modernization initiatives, ISG says. To reach strategic goals and maximize Oracle investments, enterprises seek providers that demonstrate domain expertise and the ability to innovate. Carrying out transitions with minimal disruption and consistent data integrity is a key requirement.

    Companies seeking to maintain Oracle performance and uptime amid cost, compliance and complexity challenges are driving up demand for managed services in Asia Pacific, the report says. Comprehensive services allow clients to optimize resource management, enhance productivity and focus on strategy.

    More enterprises in the region are adopting Oracle Cloud Infrastructure (OCI), often leveraging local data centers and integrating advanced tools, ISG says. A key requirement is the availability of generative AI for process automation and management of multicloud environments. Companies give priority to service providers that offer comprehensive support for Oracle and non-Oracle environments and enhance integration across cloud platforms.

    “Enterprises in Asia Pacific are choosing leading OCI providers with a strong local presence,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Along with competitive pricing and proven track records in Oracle migrations, this fosters trust.”

    The report also examines other trends affecting Oracle users in Asia Pacific, including enterprises consolidating providers of comprehensive application management services and the impact of OCI’s recently introduced interoperability across AWS, Azure and Google Cloud.

    For more insights into the challenges faced by enterprises using Oracle in Asia Pacific, see the ISG Provider Lens Focal Points briefing here.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific evaluates the capabilities of 28 providers across four quadrants: Consulting and Advisory Services, Implementation and Integration Services, Managed Services and OCI Solutions and Capabilities.

    The report names Accenture, Cognizant, Deloitte, HCLTech, Infosys, LTIMindtree, TCS, Tech Mahindra and Wipro as Leaders in all four quadrants. It names PwC as a Leader in three quadrants and KPMG as a Leader in two quadrants. Capgemini is named as a Leader in one quadrant.

    In addition, Capgemini, DXC Technology and Kyndryl are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

    In the area of customer experience, Capgemini is named the global ISG CX Star Performer for 2024 among Oracle Cloud and Technology Ecosystem providers. Capgemini earned the highest customer satisfaction scores in ISG’s Voice of the Customer survey, part of the ISG Star of Excellence program, the premier quality recognition for the technology and business services industry.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific is available to subscribers or for one-time purchase on this webpage.

    About ISG Provider Lens Research

    The ISG Provider Lens Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

    About ISG

    ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.

    MIL OSI – Submitted News

  • MIL-OSI China: Hong Kong outlines plans to leverage strategic positioning, boost global connectivity

    Source: China State Council Information Office 2

    The Hong Kong Special Administrative Region (HKSAR) will continue to leverage its strategic positioning as the “three centers and a hub” and make good use of the advantages of “one country, two systems,” the financial secretary of the HKSAR government said on Wednesday.
    While delivering the 2025-26 budget at the HKSAR’s Legislative Council, Paul Chan said it is imperative to do so, outlining a range of plans to inject new impetus into Hong Kong’s economy, consolidating and strengthening industries with clear advantages while actively nurturing and developing new industries.
    To reinforce Hong Kong’s status as an international financial center, Chan said the HKSAR government will introduce a series of measures across various fields, including the securities and derivatives market, fixed income and currency hub, as well as asset and wealth management center.
    The Hong Kong Exchanges and Clearing Limited will put forward recommendations to enhance the issuance mechanism of structured products with a view to providing greater flexibility for product listing and trading, he said.
    The Hong Kong Monetary Authority is preparing to issue the third tranche of tokenized bonds, and will continue to encourage digital bonds issuances through the Digital Bond Grant Scheme, while actively exploring tokenizing traditional bonds issued, Chan said.
    To promote the connection of e-payment between the Chinese mainland and Hong Kong, the People’s Bank of China and the Hong Kong Monetary Authority are working closely to implement the linkage of faster payment systems of both places, with a view to providing round-the-clock real-time, small-value cross-boundary remittance service for residents in both places, said Chan, adding that the service is expected to be launched in mid-2025 at the soonest.
    To promote the construction of Hong Kong as an international trade center, Chan said that the Hong Kong Export Credit Insurance Corporation will provide credit insurance for export services relating to multinational supply chain to render more comprehensive support to enterprises seeking to go global.
    Hong Kong will continue to leverage its role as a functional platform for the Belt and Road Initiative (BRI), Chan said, adding that Hong Kong will continue to further cultivate the ASEAN and Middle East markets, and explore opportunities in Central Asia, South Asia and North Africa.
    Chan reaffirmed that the HKSAR government will establish the Hong Kong Maritime and Port Development Board this year to strengthen relevant research, promotion and manpower training to facilitate the sustainable development of the international maritime center.
    In addition, Hong Kong will help the home-developed C919 aircraft enter the global market, Chan said, noting that the Hong Kong International Aviation Academy will expand its training programs in this regard.
    To foster a talent hub, Chan said the HKSAR government will enhance the Admission Scheme for Mainland Talents and Professionals and the General Employment Policy by allowing young non-degree talents with professional and technical qualifications and experience to come to Hong Kong to join skilled trades facing manpower shortage.
    The HKSAR government will continue to attract more students, especially those from ASEAN and other countries under the BRI cooperation framework, to study in Hong Kong through various measures, including the Belt and Road Scholarship, he said. 

    MIL OSI China News

  • MIL-OSI China: China builds extreme ‘super lab’ to assist global scientists in probing mysteries of matter

    Source: China State Council Information Office 2

    Researchers work at an experimental station of the Synergetic Extreme Condition User Facility (SECUF) in Beijing, capital of China, Oct. 16, 2024. [Photo/Xinhua]
    What astonishing phenomena might materials reveal when they are subjected to conditions mimicking the extremes of the cosmos-ultra-low temperatures, magnetic fields that are hundreds of thousands of times stronger than Earth’s, and pressure close to that at the planet’s core?
    The Synergetic Extreme Condition User Facility (SECUF), located in Beijing’s suburban Huairou District, is opening a portal for scientists to observe the bizarre phenomena of matter under such extreme environments.
    After starting construction in September 2017, the SECUF passed national acceptance review on Wednesday, marking the completion of the internationally advanced experimental facility integrating extreme conditions such as ultra-low temperature, ultra-high pressure, strong magnetic fields, and ultra-fast optical fields.
    The facility, led by the Institute of Physics (IOP) under the Chinese Academy of Sciences, is a cluster of precision-controlled “extreme environment generators.” It serves as a “super lab” for probing the frontiers of materials science. Here, scientists can explore the mysteries of matter and uncover new phenomena or laws invisible under ordinary conditions.
    The SECUF can cool materials to an extremely low temperature of 1 millikelvin, which is 1,000 times lower than the cosmic background temperature. It is capable of producing a steady 30 Tesla magnetic field, which is 600,000 times stronger than Earth’s magnetic field, according to Lv Li, the leading scientist of SECUF.
    The facility can reach an ultra-high pressure of 300 GPa, nearly equivalent to the pressure at the Earth’s core. It can generate ultra-fast laser pulses lasting 100 attoseconds, which is a billionth of a billionth of a second, to capture electron dynamics in real time.
    Under extreme conditions, materials often exhibit “magical” behaviors. For instance, superconductivity–where electrical resistance vanishes–occurs only at ultra-low temperatures. Additionally, some ordinary materials transform into superconductors under high pressure.
    Based on the SECUF, scientists are expected to discover more superconducting materials under high pressure, and even room-temperature superconductors, which is of great significance for improving computer processing speed, Lv said.
    Strong magnetic fields and ultrafast light fields allow scientists to delve deeper into the microscopic structures and dynamic behaviors of materials, experts explained.
    These extreme conditions can be combined based on different research needs at the SECUF, enabling advanced experiments in material synthesis, quantum control, and ultrafast dynamics, providing an unprecedented experimental platform for research in the fields such as materials science, physics and chemistry, Lv said.
    The completion of the facility has significantly enhanced China’s comprehensive capabilities in basic and applied basic research in the field of materials science and related areas. Researchers can conduct studies on unconventional superconductivity, topological states of matter, and novel quantum materials and devices, according to Cheng Jinguang, deputy director of the IOP.
    This experimental platform is open to scientists worldwide. So far, 13 universities and research institutions from 10 countries, including Denmark, Germany, France and Japan, have conducted experiments at the SECUF, with some experimental stations already yielding scientific results, Cheng said.
    Scientists plan to further enhance SECUF’s capabilities while keeping its doors open to global researchers, to attract more pioneers to this “extreme challenge,” unlocking discoveries that reshape humanity’s understanding of the material world. 

    MIL OSI China News

  • MIL-OSI China: Press center opens for China’s annual ‘two sessions’

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

    BEIJING, Feb. 27 — A press center for China’s annual sessions of its top legislature and political advisory body, known as the “two sessions,” opened Thursday at the Media Center Hotel in Beijing.

    The third session of the 14th National People’s Congress and the third session of the 14th National Committee of the Chinese People’s Political Consultative Conference will kick off on March 5 and March 4, respectively.

    More than 3,000 journalists have registered to cover the “two sessions” this year, which marks the final year of China’s 14th Five-Year Plan (2021-2025) period. Among them, over 1,000 reporters are from Hong Kong, Macao, Taiwan, and foreign countries.

    The number of journalists has increased compared to last year.

    The press center will host a series of press conferences and events, with heads of central government departments expected to address hotspot domestic and international issues.

    MIL OSI China News

  • MIL-OSI Security: Two Men Sentenced to Life in Federal Prison for Double Murder and Attempted Murder of a Federal Officer on the Colville Reservation

    Source: Office of United States Attorneys

    Spokane, Washington – Acting United States Attorney Richard R. Barker announced that on February 26, 2025, Zachary L. Holt, age 24, and Dezmonique D. Tenzsley (a/k/a “Privilege”), age 36, were sentenced on seventeen counts including Felony Murder in Indian Country, Attempted Murder of a Federal Officer, Assault of a Federal Officer, Attempted Robbery in Indian Country, Robbery Affecting Commerce, as well as several firearm offenses. Holt also was sentenced for First-Degree Murder in Indian Country and Murder Resulting from Discharging a Firearm During a Crime of Violence. Holt and Tenzsley were convicted of these crimes on November 25, 2024, following a jury trial. United States District Judge Thomas O. Rice sentenced both men to life in prison, which was the mandatory sentence for Holt and Tenzsley’s crimes.

    “The U.S. Attorney’s Office and numerous federal agencies came together to secure some measure of justice on behalf of the victims in this case,” stated Acting United States Attorney Barker, who served as a lead counsel on the case from the start. “This was a complicated investigation and trial, involving nearly sixty witnesses.  The U.S. Attorneys Office would not have been able to present this case without the sacrifices of our incredible law enforcement team.” 

    According to court documents and information disclosed at trial and sentencing, Holt and Tenzsley went on a six-week crime spree that began in September 2022 in Northern Idaho and continued until the Defendants’ arrests in Eastern Washington on October 21, 2022. Over these six weeks, Defendants Holt and Tenzsley committed home invasions as well as a robbery in Northern Idaho, and then took their firearms and much of the stolen property into Eastern Washington, where they shot and killed Gale and Jeremy Neal at roughly 4:21 p.m. on October 20, 2022, in Keller, Washington. Gale and Jeremy Neal were shot twice inside their trailer during a failed robbery. Eyewitnesses described three armed men wearing masks, who arrived at the trailer in a red sedan. Surveillance video presented at trial showed the red sedan arrive at about 4:19 p.m. and depart two minutes and ten seconds later, at 4:21 p.m., just moments after the murder.

    Approximately 30 minutes before the murders, Holt and Tenzsley were driving on a dirt road in the Keller area. Holt, who was speeding, swerved to miss a school bus, causing Holt’s vehicle to roll over into a ditch. Minutes later, Holt’s brother, Curry Pinkham, pulled up in the red sedan to give both Holt and Tenzsley a ride.  Just before getting into the car, Holt and Tenzsley moved several firearms – including the murder weapon – and thousands of rounds of ammunition out of the crashed car and into the red sedan – a 2007 Toyota Camry.

    Testimony at trial established that Holt was upset about wrecking his car and demanded that Pinkham take them to a location where they could get more drugs and find someone to rob. Pinkham agreed to drive Holt to the home of a known drug dealer in the Keller area.

    When Holt, Tenzsley, and Pinkham arrived at the residence of the known drug dealer, Holt and Tenzsley put on rubber gloves and masks. Holt, Tenzsley and Pinkham then grabbed firearms out of the red sedan. Rather than go to the main residence, where the purported drug dealer lived, Holt and Tenzsley walked to the back of the property, where Gale Neal’s trailer was located. As Holt and Tenzsley approached, Jeremy Neal came to the door of the trailer. Holt immediately began demanding Neal’s money and property.  Moments later, Holt fired two shots, killing Jeremy Neal. Holt then turned to Gale Neal, who leaned back into the couch in fear, and fired two more shots, killing Gale. Throughout, Tenzsley was standing guard, armed with a shotgun and his face covered by a mask.

    After the robbery and murder, and while law enforcement was responding to the scene, Tenzsley, Holt, and Pinkham drove towards Nespelem, Washington. As Pinkham was driving the getaway car, Holt fired several additional shots – this time at law enforcement, who was attempting stop the red Camry. During the chase, a Colville Tribal Police Sergeant, who was cross-deputized as a federal officer, was hit in the forearm.  Several additional bullets hit the Sergeant’s patrol vehicle. After shooting the first officer, Holt opened fire at a second Colville Tribal Police Officer, who also had attempted to stop the red sedan. Evidence at trial established that Tenzsley reloaded firearm magazines as Holt continued to fire at law enforcement to evade apprehension after murdering the Neals.

    When Holt, Tenzsley, and Pinkham later arrived in the Nespelem area, the three men tried to hide the getaway car under a tarp and fled on foot. They also hid their firearms and ammunition throughout the Nespelem area. When Holt and Tenzsley were finally apprehended the next day, Tenzsley gave a false name.  Holt got into fist fight with a concerned citizen, who had called the police just prior to Holt’s arrest.

    During the investigation into the murders of Jeremy and Gale Neal, Tribal and federal law enforcement identified a series of other crimes that Holt and Tenzsley committed as part of their six-week crime spree and conspiracy. On September 3, 2022, Holt and Tenzsley robbed and severely assaulted a man at gunpoint inside his trailer in Latah County, Idaho. The pair stole ammunition, gun parts, the victim’s car keys, and a safe containing the title to the victim’s camper trailer. As Holt and Tenzsley were fleeing the robbery scene, they exchanged fire with the robbery victim.

    Additional evidence established that on October 12, 2022, Holt and Tenzsley, who again were both armed, invaded two homes and assaulted multiple victims on the Nez Perce Indian Reservation in Lapwai, Idaho. The evidence at trial showed that Holt and Tenzsley were again looking for someone to rob when they committed these assaults.  During the second home invasion that evening, Holt and Tenzsley shot a dog in the face on the Nez Perce Reservation. Fortunately, the dog survived the gunshot.

    In the days immediately after the Lapwai, Idaho assaults, Holt and Tenzsley traveled to Keller, Washington – leading to the tragic deaths of Gale and Jeremy Neal, as well as the attempted murder of one federal officer and the assault of another.  The firearm used in the shooting on the Nez Perce Reservation was the same gun Holt and Tenzsley used during the Neal murders, as well as the attempted murder and assault of the two federal officers.

    “On October 20, 2022, these defendants tragically destroyed too many lives to count.  They killed two innocent members of the Colville Tribe, permanently injured a dedicated Tribal officer, and opened fire at another officer,” Acting United States Attorney Barker added.  “On the day of these senseless crimes, the entire Nespelem community was in lock down, while Tribal and federal police sought to apprehend Mr. Holt and Mr. Tenzsley. The community then rallied in typical Colville fashion to support the investigation and prosecution of those responsible. Similarly, the Nez Perce Reservation’s Tribal Police Department was instrumental in bringing the Defendants to justice for the criminal conspiracy that began in Northern Idaho.”   

    Acting U.S. Attorney Barker continued, “The subsequent investigation involved numerous witness interviews across three Tribal communities in two states, dozens of search warrants, extensive forensic testing by the Washington State Patrol, voluminous legal filings, and numerous meetings with victims and their families. In the end, our entire district came together to seek justice for the Neal family and the officers, who were shot and nearly killed. Without our state, local, and Tribal partnerships, as well as every member of my office, the outcome of this case and investigation could have gone much differently. I am particularly grateful for the incredible team of victim advocates, litigation technology specialists, legal support staff, and Assistant United States Attorneys, who worked tirelessly on this case.  Our team shows up every day to help keep our communities, neighborhoods, and reservations safe, and this case is just one example of the amazing things our office is able to accomplish.”   

    The Chairman of the Colville Tribes, Jarred Michael Erickson, said, “These events were incredibly disruptive to the Colville community. People died and their neighbors had to grapple with shock, grief, and fear as these despicable crimes unfolded. It is extremely gratifying to see justice done today as these murderers will spend the rest of their lives in prison. Criminals everywhere must understand that if they commit their crimes on the Colville Reservation, they will be prosecuted to the fullest extent of the law.”

    Chairman Erickson continued, “Our Colville Tribal Police reacted to this crisis with incredible bravery and professionalism. The murderers shot at two Colville officers as the officers attempted to apprehend them, and seriously injured one officer when they shot him in the forearm. As the Colville police continued to work with other law enforcement agencies throughout the investigation and eventual arrest of these felons, Det. McNulty and Chief Brown distinguished themselves with their efforts to bring these killers to justice. The Colville Tribes is grateful for the efforts of every individual and non-tribal agency that assisted in this case, but we especially want to thank Acting U.S. Attorney Richard Barker, who worked as lead counsel on this case through trial. Richard and his office have been friends and partners to the Colville Tribes for many years now. It is an understatement to say we greatly appreciate the effort and skill the U.S. Attorney’s office devoted to prosecuting this case, and for the work they do every day to keep our community safe.”

    “The ruthless violence Mr. Holt and Mr. Tenzsley displayed will not be tolerated and demonstrates that prison is where they belong. Communities across Idaho and Eastern Washington will be safer with them there.” said W. Mike Herrington, Special Agent in Charge of the FBI’s Seattle field office. “It is fortunate more people were not injured or worse by these two dangerous criminals. I am grateful to the courageous officers who were able to apprehend them and to the investigators who put an end to their crime spree and held them accountable for their violent actions.”

    “This case is a prime example of how interagency cooperation between state, city, county, tribal, and federal partners can lead to communities being kept safe and take criminals off the street,” stated Latah County Sheriff Richard Skiles. “I would personally like to thank our Detective Corporal Ryan Weaver for his exemplary work on this case. I would also like to thank the United States Department of Justice for their relentless prosecution of this case and keeping all local law enforcement agencies involved in this case. Justice has been served.”

    This case was investigated by the Colville Tribal Police Department, the FBI, the FBI’s Salish Safe Trails Task Force, Latah County Sherif’s Office, Nez Perce Tribal Police Department, Idaho State Patrol, Spokane Tribal Police Department, Kalispel Tribal Police Department, Grant County Sheriff’s Office, Okanogan Sheriff’s Office, Ephrata Police Department, Soap Lake Police Department, U.S. Border Patrol, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, the United States Marshals Service, and the Washington State Patrol. The case was prosecuted by Acting United States Attorney Richard R. Barker, Assistant United States Attorney Michael J. Ellis, and Contractor Echo D. Fatsis.

    2:22-cr-00157-TOR

    MIL Security OSI

  • MIL-Evening Report: A middle power with ‘great and powerful friends’: Australia’s changing role in the region

    Source: The Conversation (Au and NZ) – By Rebecca Strating, Director, La Trobe Asia, and Professor of International Relations, La Trobe University

    Debating Australia’s role in world politics is not always high on the political agenda. Elections here are more often fought on economic issues than foreign or defence policy. And while the major parties have different views on foreign policy, there tends to be bipartisanship on the central tenets of our strategic policy, including Australia’s alliance with the United States.

    In recent years, however, Australia has found itself wedged between two great powers: its security guarantor, the US, and its major trading partner, China. The increasing strategic competition between these two great powers, especially in Asia, has raised new questions about how Australia should manage these relationships and conceive of its role in the world.

    For some countries, having a prominent role on the global stage may be more obvious than for others. Wealthy states with large militaries and populations, for example, often play the part of “great powers”. These countries tend to make claims about their unique rights and responsibilities, such as having a greater say in multilateral institutions (like the United Nations) and the “rules” intended to govern international conduct.

    However, most of the world’s countries are not great powers. For a middle-sized nation like Australia, its role on the global stage is not necessarily static but determined by how our leaders balance national interests and values.

    These, in turn, are shaped by “material factors”, such as geography, population and economy size, natural resources, shared political ideals (for example, our belief in democratic institutions), norms and culture.

    In addition, a middle-sized country’s global role can change depending on how leaders perceive contemporary threats and challenges to their security.

    Australia as a ‘middle power’

    The National Defence Strategy released in 2024 describes Australia as an “influential middle power”. According to the strategy, this is demonstrated by several things:

    • our enduring democratic values
    • our history of safeguarding international rules and contributing to regional partnerships
    • the strong foundations of our economy
    • the strength of our partnerships in the Indo-Pacific.

    Whether Australia should be described as a “middle power”, though, has long been the subject of political debate. Since H.V. “Doc” Evatt, then-attorney general and minister for external affairs, used the term in 1945, it has been most often (but not always) associated with the Labor Party.

    Recent Coalition governments have been more reluctant to view Australia as “just” a middle power.

    Alexander Downer, the foreign minister in the Howard government, would occasionally use the term “pivotal power”. Pivotal powers, as one political analyst put it, are “destined to shape the contours of geopolitics in key regions of the world” due to their strategic location, economic power and political influence.

    Meanwhile, Julie Bishop, foreign minister in the Abbott and Turnbull administrations, preferred the term “top 20 country”, arguing this better reflected Australia’s standing and level of influence on the global stage.

    At the core of this historical debate is the extent to which a country like Australia can – and does – have influence in the region and globally.

    Middle powers have different characteristics from great or smaller powers. Size, geography and economic wealth affect the extent to which they can shape the world. As a result, middle powers often adopt certain types of actions or behaviours to enhance their influence.

    This concept, known as “middle power diplomacy”, has often been associated with Australia.

    There are a number of ways middle powers do this, such as by:

    • supporting adherence to international law and rules (because these can help restrain more powerful states from imposing their will on others)

    • encouraging cooperation through multilateralism (cooperation between multiple states)

    • finding creative new solutions to global problems, such as climate change

    • taking the diplomatic lead on specific, but important, issues.

    A liberal-democratic middle power, such as Australia, may also seek to promote its values internationally, including the respect for human rights, free and open trade, and the principles of democratic governance and accountability.

    Australia’s reliance on ‘great and powerful friends’

    In addition, middle powers often choose to align themselves with a bigger power to boost their influence even further.

    In Australia’s case, its strategic dependence on the United States developed, in part, by historical anxieties that faraway “great and powerful friends”, as former diplomat Allan Gyngell phrased it, might abandon it in a potentially hostile region.

    Prior to the second world war, Australia relied on its former colonial ruler, Britain, for its security. The Fall of Singapore in 1942, in which Japanese forces routed British and Australian troops defending the island, demonstrated the risks of our overdependence on a distant ally.

    In the aftermath of the war, Australia forged a new security alliance with a new global superpower, the United States, through the ANZUS Treaty. Yet, replacing one “great and powerful” but distant friend with another did not alleviate Australia’s abandonment anxieties.

    Since then, debates about Australia’s international role have largely focused on the extent to which it can – and should be – self-reliant in the context of the US alliance, or if it should pursue a more independent foreign policy.

    US domestic politics – particularly during President Donald Trump’s time in office – have also driven uncertainty about Washington’s reliability, as well as its commitment to Asia and the implications for allies like Australia.

    Despite such concerns, Australia’s relationship with the US is as strong and deeply entwined as it has ever been. In fact, it only got stronger during Trump’s first term. While Canberra has sought to deepen engagement with regional states it views as “like-minded”, such as Japan, South Korea and India, it has done so firmly in the context of its broader alliance with the United States.

    This, of course, is driven by the new anxieties over China’s rise as a major economic and military power in the region. In recent years, Beijing’s assertive and coercive behaviours in the region have made it the key national security threat facing Australia.

    This is a break from the past, when Australian leaders – both Labor and Liberal – broadly agreed that a “pragmatic approach” to engaging great powers meant Canberra would not have to “choose sides” between China and the US.

    In 2023, the Albanese government sought a détente of sorts with China, attempting to return to this pragmatic approach. But wariness of Beijing remains.

    Opponents to this strategy have called the government’s efforts to re-engage with China a “threat to Australian sovereignty, principles, and values”.

    Prime Minister Anthony Albanese’s visit to Beijing in late 2023.

    An Indo-Pacific power?

    In the context of these new challenges presented by a rising China, Australia has increasingly leaned into becoming an “Indo-Pacific” power in recent years. There are a number of ways in which this shift is observable.

    First, Australia has been instrumental in encouraging the global adoption of this phrase, “Indo-Pacific”, as a new way of referring to the region. This is partly driven by the desire to maintain US leadership and presence in Australia’s neighbourhood. The US is a Pacific state, so this concept anchors the US in our region in a way that “Asia” does not.

    And when people used the term “Asia-Pacific” to talk about the region in the past, this had a primarily economic connotation. This is due to the importance of the
    Asia-Pacific Economic Cooperation (APEC) forum and the move towards free-trade agreements between Australia and other countries in the region.

    However, the US has become less economically engaged in the region in recent years, with a focus on rebuilding its own industrial base. India, the other major economy in Asia, has also been reluctant to sign up to multilateral, regional free-trade agreements. Neither are parties to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CP-TPP) or the Regional Comprehensive Economic Partnership (RCEP) agreements.

    As such, the new term “Indo-Pacific” has become more of a security concept centred on the region’s waters. Generally, it is used to incorporate South, Southeast and Northeast Asia, Oceania (Australia, New Zealand and the Pacific Islands) and the United States. By connecting the Indian (“Indo”) and the Pacific Oceans, it has become primarily a maritime strategic concept.

    The narratives usually associated with the Indo-Pacific also relate to the need to protect the international rules-based order, and freedom of navigation and overflight for ships and aircraft in the region. This, again, reflects the growing geopolitical anxieties about a rising China, particularly in the disputed South and East China seas and the Taiwan Strait.

    Australia does not have territorial or maritime claims in either sea, but we are nonetheless concerned about China’s efforts to undermine the United Nations Convention on the Law of the Sea (UNCLOS) and what this might mean for the “rules-based order” more generally.

    The second way Australia is moving more towards becoming a regional power is in the narrowing of its core defence interests to an “inner ring” focused on the South Pacific and maritime Southeast Asia, and to a lesser extent, an “outer ring” in the broader Indo-Pacific and wider world. These geographical boundaries have consequences for how Australia views its international role.

    After nearly two decades of military engagement in the Middle East and Afghanistan, Australia is shifting its focus back on its home region. This reflects not just the limits of our military capabilities, but also new concerns about the changing balance of power in Asia.

    Third, Australia is increasingly focusing on a more strategic, narrower form of multilateralism. This, too, has been more centred on our region.

    Multilateralism has always been seen as an important part of middle power identity. Australia, for instance, played a key role in setting up institutions like the United Nations.

    However, this began to shift under recent Coalition governments. Prime Minister Scott Morrison expressed scepticism about such institutions, criticising them as an “often ill-defined borderless global community” that promoted “negative globalism”.

    Under successive Coalition governments, Australia instead became a key player in two smaller groups of nations – the re-branded “Quad” in 2017 (along with Japan, the US and India) and AUKUS in 2021 (with the US and United Kingdom).

    Under the Albanese government, global multilateralism was reinstated as an important pillar of foreign policy. But Australia’s investment and involvement in these smaller groups has only deepened.

    Both AUKUS and the Quad demonstrate Australia’s changing role as a regional power in the Indo-Pacific. These groups offer Australia an opportunity to shape the regional security agenda by joining forces with other powerful states. They also provide a way of encouraging the US to maintain its presence and leadership in the region and to counterbalance China’s rise.

    As part of this, Australia has become a key proponent of what the Biden administration coined “integrated deterrence”.

    This is a central pillar of the US’ Indo-Pacific strategy that seeks to mobilise “like-minded” states – especially its regional allies such as Australia, Japan and South Korea – to form a regional coalition against rival states. This strategy reflects a growing awareness the US can’t provide security in Asia alone.

    The AUKUS security agreement, including the commitment to develop new nuclear-powered submarines for Australia, is a part of this strategy.

    Since the announcement of the submarine plan in 2021, both the procurement plan and the language that American and Australian leaders have been using suggest that Canberra is preparing to play a bigger security role in the region alongside the US.

    Time for a new ‘strategic imagination’?

    Has Australia’s shift to an Indo-Pacific regional power served it well?

    It has allowed the deepening of defence relationships with partners like Japan and India. And through its roles in the Quad and AUKUS, Australia has a seat at the table and is more visible in regional security discussions.

    But there are risks to a more assertive regional power stance. Australia could be viewed by its neighbours as too focused on military and not invested enough (or in the right way) in diplomacy or regional development. Australia’s overseas aid contribution, for example, has been declining for three decades.

    It is also unclear which other regional states are likely to participate in a US-led coalition if a real conflict with China ever broke out. The Quad and AUKUS groups may be viewed by others as exclusionary or contributing to increasing tensions in the region.

    How nuclear-powered submarines will “deter” potential adversaries is also yet to be clearly explained. These submarines could potentially entangle Australia in a regional conflict instead. Being able to clearly articulate and distinguish between Australian and US interests will remain vital for ensuring that future governments don’t “sleepwalk” into war.

    Finally, Australia’s advocacy of the “rules-based order” has left it – and the US – exposed to criticisms of hypocrisy and double standards, particularly with Washington’s support for Israel’s war on Gaza.

    In our recent book, Girt by Sea: Re-imagining Australian Security, Joanne Wallis and I argue that Australia needs to reconceptualise its role as a regional actor to

    …one which can develop a coherent security strategy by working with old and new allies and partners to shape the regional order in ways that ensure its security.

    The approach emphasises the need for all parts of our government to work in coordination to protect Australians from the range of complex conventional and unconventional challenges it faces (including climate change).

    Australia’s security and its international role should not be viewed through the lens of the “China threat” alone. Doing so is counter-productive, as many states in the region do not share the same perception about China.

    Instead, as Wallis and I wrote, Australia needs a “more comprehensive, nuanced and contingent understanding of the range of security opportunities and threats” we face.


    This is an edited extract from How Australian Democracy Works, a new collection of essays from The Conversation on all aspects of the country’s political landscape.

    Rebecca Strating receives funding from Australia’s Department of Foreign Affairs and Trade.

    ref. A middle power with ‘great and powerful friends’: Australia’s changing role in the region – https://theconversation.com/a-middle-power-with-great-and-powerful-friends-australias-changing-role-in-the-region-228897

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Spokane Police Chief Joins Cantwell for Hearing on Fentanyl Trafficking on U.S. Transportation Networks

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    02.26.25

    Spokane Police Chief Joins Cantwell for Hearing on Fentanyl Trafficking on U.S. Transportation Networks

    Cantwell bill to help law enforcement detect more fentanyl traffickers has been endorsed by Seattle, King Co., Vancouver, Spokane, and Spokane Co. Police Departments; SPD Chief: “Any tool will help us down this road, whether it’s x-ray technology, vapor technology [or] canine technology”

    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell, ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, invited Spokane Chief of Police Kevin Hall to participate in a Commerce Committee hearing titled, “Interdicting Illicit Drug Trafficking: A View from the Front Lines.”

    During the hearing, Sen. Cantwell discussed how her legislation, the Stop Smuggling Illicit Synthetic Drugs on U.S. Transportation Networks Act, could boost law enforcement’s ability to detect fentanyl being smuggled via commercial aircraft, railroads, vehicles, and ships.

    In his opening remarks, Spokane Police Chief Kevin Hall explained how cartels utilize U.S. transportation networks to traffic fentanyl across state lines: “Recent seizures highlight the scale of trafficking along transportation routes,” said Chief Hall. “[The] Spokane supply chain follows similar patterns, moving drugs from Mexico along interstates, I-19, I-10 and I-5, before reaching Eastern Washington via I-90. Spokane officers have recently encountered bulk powder fentanyl, an emerging and highly dangerous trend.”  

    “The supply chain is clear: the Chinese Triad sells precursor chemicals to Mexican drug cartels, hidden on ships and in air cargoes, and cartels make fentanyl and smuggle it through the United States,” said Sen. Cantwell. “They hide fentanyl and personal vehicles, commercial trucks, buses, trains, planes and even on unmanned aerial vehicles. So, this is a danger to our national security and our transportation security. It is very highly toxic.

    During the hearing, Chief Hall – who previously served 32 years for the Tucson Police Department, about an hour’s drive from the Southern border — described the elaborate methods used by cartels to smuggle fentanyl pills into the country: “The investment by the cartels — and make no mistake, this is all cartel driven — is such that they will completely disassemble a vehicle, a brand new vehicle, put as much narcotics into every single void inside that vehicle, and then assemble it again. They will go through that amount of energy, put the vehicle back together, and put it on the road and it’s off on the freeways.”

    That was the case in a pair of busts led by the Tucson Police Department in October and November of 2024, when 1.7 million pills were discovered stashed away in vehicles just north of the border: “Two nondescript sedans that had to be completely disassembled in order to recover all of those narcotics,” Chief Hall said.

    “This is why I want us to have a more collaborative effort here. . . . they’re tearing cars apart, and so, what do you think a new vapor technology could help us do?” Sen. Cantwell asked.

    “Any tool will help us down this road, whether it’s x-ray technology, vapor technology, even going to like, I call old school, canine technology. They’re all very effective in different ways,” said Chief Hall.

    In September 2024, Sen. Cantwell introduced the Stop Smuggling Illicit Synthetic Drugs on U.S. Transportation Networks Act. This bill would create first-ever inspection strategies to stop drug smuggling by commercial aircraft, railroads, vehicles, and ships. The legislation would boost local, state, federal, and tribal law enforcement resources, increase inspections at ports of entry, and deploy next generation non-intrusive detection technologies – similar to handheld security wands that can detect traces of illicit substances in vehicles or on persons during inspections.

    Sen. Cantwell held a press conference with Spokane Police Chief Hall and Spokane County Sheriff John Nowels on this legislation at Spokane Fire Station 1 this past October. Photos from that press conference are available HERE.

    Sen. Cantwell’s bill aims to support law enforcement in stemming the flow of fentanyl into our communities. The bill would supply more resources to carry out actions like the major bust at SeaTac Airport and the University District neighborhood completed by the Seattle office of Homeland Security Investigations (HSI) last fall, or the bust led by the Drug Enforcement Administration, Bureau of Indian Affairs, and others that prevented more than 100 pounds of illegal drugs from being trafficked across the Confederated Tribes of the Colville Reservation in April 2023.

    At today’s hearing, Chair Ted Cruz (R-TX) committed to working with Sen. Cantwell on legislation to stop illicit fentanyl smuggling in the United States.

    “Intercepting illicit drugs like fentanyl at airports is challenging, but we’re grateful to be working with partners at all levels to combat drugs being imported into our communities,” said Port of Seattle Commission President Toshiko Hasegawa. “Many of these drugs are in checked bags and go through a screening process, but the struggle lies in bridging the gap between technology and legal restrictions. The POSPD drug interdiction unit, alongside our drug detection canines, are successfully seizing large quantities of fentanyl pills and other substances and remain committed to making our communities and the airport safer.”

    Sen. Cantwell has pursued multiple paths to addressing the fentanyl crisis, including holding a statewide listening tour to hear directly from people on the front lines of the fentanyl crisis; urging committees of jurisdiction to convene hearings and consider legislative solutions; voting for new laws to provide funding and tools to confront the crisis; and securing funding specifically for Washington state to respond to the crisis.

    Among other measures to fight fentanyl trafficking, last year Sen. Cantwell voted for $1.69 billion in new federal funding to combat fentanyl and other illicit drugs coming into the United States, including an additional $385.2 million to increase security at U.S. ports of entry, with the goal of catching more illegal drugs like fentanyl before they make it across the border.  That funding included critical resources for Non-Intrusive Inspection (NII) technology at land and seaports of entries. NII technologies—like large-scale X-ray and Gamma ray imaging systems, as well as a variety of portable and handheld technologies—allow U.S. Customs and Border Protection to help detect and prevent contraband from being smuggled into the country without disrupting flow at the border. 

    A background document on Sen. Cantwell’s legislative track record and advocacy to combat the fentanyl crisis is available HERE.

    Video of Chief Hall’s full opening remarks is HERE and a transcript is HERE. Video of Sen. Cantwell’s opening remarks is HERE; video of their Q&A is HERE; and a transcript is HERE.

    MIL OSI USA News

  • MIL-OSI USA: Senator Marshall Introduces Legislation to Prevent Foreign Interference in American Agriculture

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall
    Washington, DC – U.S. Senator Roger Marshall, M.D. (R-Kansas) introduced the Protecting American Agriculture from Foreign Adversaries Act, which would permanently add the U.S. Secretary of Agriculture to the Committee on Foreign Investment in the United States (CFIUS) to help prevent improper foreign interference and disruption to the U.S. agriculture industry.
    CFIUS is the governmental body that oversees the vetting process of foreign investment and acquisition of American companies. In addition to permanently adding the Secretary of Agriculture to CFIUS, the bill would require that the Secretary report any transaction that could threaten national security, specifically concerning purchases made by adversarial nations like China, North Korea, Russia, and Iran.
    “Food Security is national security, and it’s high time that we start recognizing this before it is too late,” said Senator Marshall. “The Secretary of Agriculture needs a seat at the table when the Committee on Foreign Investment in the United States is considering foreign agricultural investments. Having an agriculture presence on CFIUS helps the committee better understand the risks foreign investment can pose to farmers and ranchers, and the Protecting American Agriculture from Foreign Adversaries Act ensures that.”
    The legislation is cosponsored by Senators John Barrasso (R-Wyoming), Todd Young (R-Indiana), Tammy Baldwin (D-Wisconsin), and Deb Fischer (R-Nebraska).
    “The Chinese Communist Party has proven over and over again they cannot be trusted. They are our adversary, not our ally. All Americans should be alarmed by the amount of American farmland China and other foreign entities own. Giving our adversaries any control over our agricultural resources is a direct threat to our national and food security. Senator Marshall’s legislation will help protect America’s farms and safeguard our food supply,” said Senator Barrasso.
    “Nearly two-thirds of land in Indiana – and more than half of all land in the United States – is farmland,” said Senator Young. “Recent efforts by China and other adversaries to buy agricultural land across the country could present a national security threat. Indiana is a leader in restricting these purchases, but Congress must act to ensure permanent safeguards are in place in all fifty states.”
    “Wisconsin’s farms are the backbone of our state,” said Senator Baldwin. “They’re not just about food, they’re about people’s livelihoods, our economy, and our way of life. That’s why I’m fighting to protect our family farms and agricultural communities from bad actors like China that threaten our food supply, economy, and national security. I’m proud to work with Democratic and Republican colleagues to protect our farmers and rural communities and ensure our Made in Wisconsin agricultural economy stays strong for the next generation.”
    “Allowing our adversaries to have any form of control over our food supply is a dangerous game, and one we should never play. Our commonsense legislation will protect America’s interests by ensuring that any foreign investments in the agricultural sector are thoroughly vetted,” said Senator Fischer.
    U.S. Representative Dan Newhouse (R-Washington-4) also introduced companion legislation in the House of Representatives.
    “The Chinese Communist Party is our most formidable adversary, and we must act immediately to defend our food and national security interests,” said Rep. Newhouse. “Farmers, ranchers, and landowners across the country deserve the certainty offered by adding the Secretary of Agriculture to CFIUS to ensure they are not selling land to an entity controlled by the CCP. We must prevent the CCP from purchasing land near federal property, including military installations and national laboratories, to protect our domestic security interests. I am glad to have the support of my colleagues in the House and Senate on these critical pieces of legislation and appreciate the comments by President Trump and Secretary Rollins to keep our enemies out of our backyard.”
    Specifically, the Protecting American Agriculture from Foreign Adversaries Act would:
    Add the Secretary of Agriculture as a member of CFIUS
    Protect the U.S. agriculture industry from foreign control through transactions, mergers, acquisitions, or agreements
    Designate agricultural supply chains as critical infrastructure and critical technologies
    Require a report to Congress on current and potential foreign investments in the U.S. agricultural industry from USDA and the Government Accountability Office (GAO) 
    Read the bill HERE.
    BACKGROUND:
    Over the past few years, the United States has experienced a rapid increase in foreign investment in the agricultural sector, particularly from China. Growing foreign investment in agriculture and other essential industries, like health care and energy, threatens our country’s national security. 
    According to USDA data from December 2023, foreign investors own approximately 45 million acres of U.S. agricultural land. This represents an increase of over 1.5 million acres in one calendar year. Foreign ownership of U.S. agricultural land increased modestly from 2012 to 2017 at an average increase of 0.6 million acres per year. However, since 2017, this number skyrocketed to an average of 2.6 million acres annually. Additionally, between 2010 and 2021, entities or individuals from China increased their ownership of U.S. agricultural land more than twentyfold, from 13,720 acres to 383,935 acres.
    Data from the 2023 Agricultural Foreign Investment Disclosure Act (AFIDA) report shows that Kansas agricultural land with foreign interest totals over 1.3 million acres.
    CFIUS is authorized to oversee and review foreign investment and ownership in domestic businesses as it relates to national security. Currently, the Committee does not directly consider the needs of the agriculture industry when reviewing foreign investment and ownership in domestic businesses.

    MIL OSI USA News

  • MIL-OSI USA News: Remarks by President Trump Before Cabinet Meeting

    Source: The White House

    class=”has-text-align-center”>Cabinet Room

    11:42 A.M. EST

         THE PRESIDENT:  Okay.  Thank you very much.  We appreciate you being here.  And we’ve put together a great Cabinet.  And we’ve had tremendous success.  We’ve been given a lot of credit for having a very successful first month, and we want to make that many months — and years, actually.  But we’re going to have many good months, and we’re going to have many good years, I hope.  And we’re going to solve a lot of problems. 

         We’re doing very well with Russia-Ukraine.  President Zelenskyy is going to be coming on Friday.  It’s now confirmed.  And we’re going to be signing an agreement, which will be a very big agreement.  And I want to thank Howard and Scott for the job you guys did in putting it together.  Really did an amazing job.  And that’ll be on rare earth and other things. 

         And as you know, we’re in for, probably, $350 billion and Europe is in for $100 billion.  And that’s a big difference.  So, we’re in for, probably, three times as much.  And yet, it’s very important to everybody, but Europe is very close.  We have a big ocean separating us.  So, it’s very important for Europe.  And they, hopefully, will step up and do maybe more than they’re doing and maybe a lot more.

         The previous administration put us in a very bad position, but we’ve been able to make a deal where we’re going to get our money back and we’re going to get a lot of money in the future.  And I think that’s appropriate, because we have taxpayers that are — shouldn’t be footing the bill, and they shouldn’t be footing the bill at more than the Europeans are paying. 

         So, it’s all been worked out.  We’re happy about it.  And I think that, very importantly, we’re going to be able to make a deal. 

         Most importantly, by far, we’re going to make a deal with Russia and Ukraine to stop killing people.  They’ll stop killing young Russian soldiers and young Ukrainian soldiers and other people, in addition, in the towns and cities.  And we will consider that a very important thing and a big accomplishment, because it was going nowhere until this administration came in.  They hadn’t spoken to President Putin in two years.  And so, we’ll keep you advised.

         Before we begin the Cabinet, I’d like to have Scott

    and a couple of people say a few things.  But most importantly — where are you?

         SECRETARY TURNER:  I’m right here, sir.

         THE PRESIDENT:  This is a gentleman who’s going places — the head of HUD.  And he’s going to say — you all know him.  And you’re going to say grace —

         SECRETARY TURNER:  Yes, sir.

         THE PRESIDENT:  — and then we’ll have our meeting, right?

    SECRETARY TURNER:  Yes.

         THE PRESIDENT:  Thank you very much. 

         SECRETARY TURNER:  Thank you, Mr. President.  Let’s pray.

         Father, we thank you for this awesome privilege, Father, to be in your presence.  God, thank you that you’ve allowed us to see this day.  The Bible says that your mercies are new every morning.  And, Father God, we give you the glory and the honor.  Thank you, God, for President Trump, Father, for appointing us.  Father God, thank you for anointing us to do this job.  Father, we pray you’ll give the president and the vice president wisdom, Father God, as they lead. 

         Father, I pray for all of my colleagues that are here around the table and in this room.  Lord God, we pray that we would lead with a righteous clarity, Father God, and as we serve the people of this country and every perspective agency, every job that we have, Father, we would humble ourselves before you that we would lead in a manner that you’ve called us to lead and to serve. 

         Father, the Bible says the blessed is the nation whose God is the Lord.  But, Father, we today honor you.  And in your rightful place, Father, thank you for giving us this opportunity to restore faith in this country and be a blessing to the people of America.  And, Lord God, today in our meeting, we pray that you will be glorified in our conversation.
        
         In Jesus’ name, amen.

         PARTICIPANTS:  Amen.

         THE PRESIDENT:  Scott, that was a very good job you did.  You’ve done that before, haven’t you?  (Laughter.)  Wow. 

         So, Scott Turner is a terrific young guy.  He’s heading up HUD, and he’s going to make us all very proud, right?

         SECRETARY TURNER:  Thank you, Mr. President.  Yes, sir.

         THE PRESIDENT:  Thank you very much.  Great job. 

         In just over one month, illegal border crossings have plummeted by numbers that nobody has actually ever seen before.  It’s much more than 100 percent. 

    And we’ve unleashed American energy at levels that will soon be reported, but we think we’re going to get it going very quickly.  We have incredible people on the energy front. 

    I think we have really great people on every front.  I’ll let you know if they’re not good, but I think they really are. 

    And we’re fighting every day to get the prices down.  The inflation is stopping slowly, but part of the reason it’s stopping is because of high interest rates and other problems that we inherited.  But we have to get the prices down — not the inflation down — the prices of eggs and various other things.  Eggs are a disaster. 

         The secretary of Agriculture is going to be showing you a chart that’s actually mindboggling what’s happened — how low they were with us and how high they are now.  But I think we can do something about it —

         SECRETARY ROLLINS:  Yes, sir.

         THE PRESIDENT:  — Madam Secretary.

         SECRETARY ROLLINS:  Yes, sir.

         THE PRESIDENT:  And I think you’re going to do a fantastic job in that position. 

    One of the most important initiatives is DOGE, and we have cut billions and billions and billions of dollars.  We’re looking to get it maybe to a trillion dollars.  If we can do that, we’re going to start getting to be at a point where we can think in terms of balancing budgets, believe it or not, something you haven’t heard in many, many years — decades, actually.  And it’s a big — whether it’s this year or next year, I think we’ll be very close to balancing budgets.  And the DOGE is very important. 

    And Elon is here to give you a summary of what’s happening, some of the things they found — some of the horrible things they found — some of the theft and fraud, and we call it waste and abuse, but a lot of fraud, and probably some fraud that we’re not going to be able to prove is fraud, but when you hear the names and the places where this money is going, it’s a disgrace. 

         But we’ve requested that a lot of people — we want to make sure that the people are working.  So, letters were sent out, and I think everyone at this table is very much behind it.  And if they aren’t, I’d want them to speak up.  But they’re very much behind it. 

         Letters were sent out to people just to find out, if the people exist, do they work?  Who do they work for?  Where are they?  You know, where have they been working?  Have they been working for other companies or other entities at all and being paid by the government, so they have two jobs, but they’re supposed to have one? 

    And the letter asks some simple questions like, “What have you done lately?”  And if they can answer that — because I can.  I can tell you everything I’ve done for the last long period of time — a lot more than a week. 

    And in many cases, we haven’t gotten responses.  Usually that means that maybe that person doesn’t exist or that person doesn’t want to say they’re working for another company while being paid by the United States government. 

    So, there’s a lot of interesting things.  It’s very unique, but we have a very unique situation because we have a lot of people that were scamming our country.  We have a lot of dishonest people.  We have a lot of people that took advantage of a lot of different situations, and we’re not going to let that happen. 

    So, I’m going to ask, if it’s possible, to have Elon get up first and talk about DOGE, because it seems to be of great interest to everyone. 

    I will say that there is a large group of people in this country that have such admiration for what we’re doing.  I got elected with a tremendous vote — winning every swing state, winning the popular vote, winning the counties by thousands of counties.  I think it was 2,800 to 500.  2,800 counties to 500 counties.  Think of that. 

    And so, we have a mandate to do this, and this is part of the reason I got elected.  I got elected based on taxes and based on many things, the border, but also based on balancing budgets and getting our country back into shape, and this is a big part of it. 

    So, Elon, if you could get up and explain where you are, how you’re doing, and how much we’re cutting.  And it’s an honor to have you.  He’s been a tremendously successful guy.  He’s really working so hard.  And he’s got businesses to run.  And in many ways, they say, “How do you do this?”  And, you know, he’s sacrificing a lot and — getting a lot of praise, I’ll tell you, but he’s also getting hit.  And we would expect that, and that’s the way it works. 

    So, I’d like to have Elon Musk please say a few words.

         MR. MUSK:  Well, tha- — thank you —
        
         THE PRESIDENT:  Thank you, Elon.

    MR. MUSK:  Thank you, Mr. President.  Well, I a- — I actually just call myself humble tech support here — (laughter) — because this is actually — as crazy as it sounds, that — that is almost a literal description of the work that the DOGE team is doing is helping fix the government computer systems.  Many of these systems are extremely old.  They don’t communicate.  There are a lot of mistakes in the systems.  The software doesn’t work.  The — so, we are actually tech support.  It’s — it’s a — it’s ironic, but it’s true.

    The — the overall goal here with the DOGE team is to help address the enormous deficit.  We simply cannot sustain, as a country, $2 trillion deficits.  The interest rates — just the interest on the national debt now exceeds the Defense Department spending. 

    We spend a lot on the Defense Department, but we’re spending, like, over a trillion dollars on interest.  If this continues, the country will go — become de facto bankrupt.  It’s — it’s not an optional thing.  It is an essential thing.  That — that’s — that’s the reason I’m here and taking a lot of flak and getting a lot of death threats, by the way.  I can, like, stack them up, you know.

    But if we don’t do this, America will go bankrupt.  That’s why it has to be done.  And I’m confident, at this point — knock on wood, you know — knock on my wooden head — (laughter) — the — there’s a lot of wood up there — that we can actually find a trillion dollars in savings.  That would be roughly 15 percent of the $7 trillion budget.

    And obviously, that can only be done with the support of everyone in this room.  And I’d like to thank everyone for — for your support.  Thank you very much this.  This — this can only be done with — with your support.

    So, this is — it’s really — DOGE is a support function for the president and for the — the agencies and departments to help achieve those savings and to effect- — effectively find 15 percent in reduction in fraud and — and waste.

    And — and we bring the receipts.  So, people say, like, “Well, is this real?”  Just go to DOGE.gov.  We l- — we — line item by line item, we specify each item.  So — and w- — and I — I should say, we — also, we will make mistakes.  We won’t be perfect.  But when we make mistake, we’ll fix it very quickly. 

    So, for example, with USAID, one of the things we accidentally canceled, very briefly, was Ebola — Ebola prevention.  I think we all wanted Ebola prevention.  So, we restored the Ebola prevention immediately, and there was no interruption.

    But we do need to move quickly if we’re — if we’re to achieve a trillion-dollar deficit reduction in tw- — in — in financial year 2026.  It requires saving $4 billion per day, every day from now through the end of September.  But we can do it, and we will do it.

    Thank you. 

    THE PRESIDENT:  Well, do you have any questions of Elon while we’re on the subject of DOGE?  Because we’ll finish off with that.  And if you would have any questions, please ask — you could ask me or Elon.

    Go ahead, please. 

    Q    Thank you, Mr. President.  Thank you, Mr. Musk.  I just wanted to ask you, the — President Trump put out a Truth Social today saying that everybody in the Cabinet was — was happy with you.  I just wondered if that — if you had heard otherwise, and if you had heard anything about members of the Cabinet who weren’t happy with the way things were going.  And if so, what are you doing to address those — any dissatisfaction?

    MR. MUSK:  To the best of —

    THE PRESIDENT:  Hey, Elon, let the Cabinet speak just for a second.  (Laughter.) 

         Is anybody unhappy with Elon?  If you are, we’ll throw them out of here.  (Laughter.)  Is anybody unhappy?  (Applause.)

    They are — they have a lot of respect for Elon and that he’s doing this.  And some disagree a little bit, but I will tell you, for the most part, I think everyone is not only happy, they’re thrilled. 

    So, go ahead, Elon.

    SECRETARY ROLLINS:  And grateful.

    MR. MUSK:  And President Trump has put together, I think, the best cabinet ever, literally.  So, I — and I do not give false praise.  This — this is an incredible group of people.  I don’t think such a talented team has actually ever been assembled.  I think it’s literally the best cabinet that the country has ever had.  And I think the companies should be incredibly appreciative of the people in this room.

    Q    Mr. President —

    THE PRESIDENT:  Please.  Yeah.  Go ahead.

    Q    Mr. President, thank you.  Mr. Musk.  Are there — about half of the government employees so far appear to have responded to your request for what they’ve been doing over the past week.  Is there a timeline in place for next moves for people being fired?  And when can the American people expect to see results from that?

    MR. MUSK:  Yes.  Well, to be — to be clear, like, the — I think that email, perhaps, was misinterpreted as a performance review, but actually it was a pulse check review.  “Do you have a pulse?”  (Laughter.)  “Do you have a pulse and two neurons?”  (Laughter.)  So, if you have a pulse and two neurons, you can reply to an email.

    This is, you know, I think, not a high bar, is what I’m saying.  This is a — should be — anyone could accomplish this. 

    But what we are trying to get to the bottom of is we think there are a number of people on the government payroll who are dead, which is probably why they can’t respond, and — and some people who are not real people, like they’re literally fictional individuals that are collecting payche- — well, somebody is collecting paychecks on a fictional individual.  So, we’re just literally trying to figure out are these people real, are they alive, and can they write an email, which I think is a reasonable expectation for the Amer- — you know, the American public would have at least that expectation of someone in the public sector.

    Q    Mr. Musk —

    Q    Mr. Musk —

    Q    — roughly a million employees —

    MR. MUSK:  (Laughs.)  This is not a — this is not a high bar, guys.  Come on.  (Laughter.)

    Q    Roughly a million employees have responded so far to this email.  Does that mean that the remaining 1 million or so federal employees now risk being terminated?  And is it your understanding and expectation when you post a directive on X that the Cabinet secretaries will follow that order?  Because several agencies have instructed employees that this is voluntary or not to respond.

    MR. MUSK:  Yeah.  Well, I mean, to be cl — so, I guess there was a — like, last week, the president en- — encouraged me, via Truth Social and also via phone call, to be more aggressive.  And I was like, “Okay.”  You know, “Yes, sir, Mr. President.  We will indeed do that.”  The president is the commander in chief.  I — I do what the president asks.

    So — and I said, “Can we send out an email to everyone, just saying, ‘What did you get done last week?’”  The president said yes.  So, I — I did that. 

    And, you know, we — we got a partial response.  But we — we’re going to send another email.  But we — our — our goal is not to be capricious or — or unfair.  It’s — we want to give people every opportunity to send an email and the email could simply be “What I’m working on is too sensitive or classified to — to describe.”  Like, literally, just re- — that would be sufficient.  We’re — we’re — you know, I think this is just common sense. 

    Q    And what is your target number for — for how many workers, employees you’re looking to cut total?

    MR. MUSK:  We — we wish to keep everyone who is doing a job that is essential and doing that job well.  But if — if they’re — if the job is not essential or they’re not doing the job well, they obviously should not be on the public payroll. 

    (Cross-talk.)

    THE PRESIDENT:  No, I have to — I would like to add —

    (Cross-talk.)

    Wait a minute.  Wait.  Wait.  I’d like to add that those million people that haven’t responded, though, Elon, they are on the bubble.  You know, I wouldn’t say that we’re thrilled about it.  You know, they haven’t responded.  Now, maybe they don’t exist.  Maybe we’re paying people that don’t exist.

    Don’t forget, we just got here.  This group just got here.  But those people are on the bubble, as they say.  You know, maybe they’re going to be gone.  Maybe they’re not around.  Maybe they have other jobs.  Maybe they moved and they’re not where they’re supposed to be.  A lot of things could have happened.

    I wouldn’t say that Biden ran a very tight administration.  They spent money like nobody has ever spent money before, wasted money — the Green New Scam, all of the different things they spent money on. 

    And you’ve seen that.  You’ve seen that with some of the things that I read in speeches.  I read them, and people can’t believe, when I read them, $20 million here, $30 million here for, you know, a little educational course on something.  Circumcision, right?  Circumcision.  $20 million to inform the people of such-and-such a country on other things and other things other than that.

    So, yeah, those people are — right now, we’re trying to find out who those people are that haven’t responded.  Now, there’ll be some agencies — like Marco has people within State that are right now doing very classified, very confidential work.  And we understand that, and we’ve talked.  And, you know, we’re being a little more surgical. 

    And Marco is doing a lot of things himself.  He’s — and some of the secretaries are.  We’re going to be going to them.  We’re going to be talking about it today.  We’re going to ask them to do their own DOGE.  In other words, they’ll look in their group and who —

    I spoke with Lee Zeldin, and he thinks he’s going to be cutting 65 or so percent of the people from Environmental, and we’re going to speed up the process, too, at the same time.  He had a lot of people that weren’t doing their job — they were just obstructionists — and a lot of people that didn’t exist, I guess, Lee, too.  You found a lot of empty spots that the people weren’t there.  They didn’t exist.

    And I think Education is going to be one of those.  You go around Washington, you see all these buildings — the Department of Education.  We want to move education back to the states, where it belongs.  Iowa should have education.  Indiana should run their own education.  You’re going to see education go way up.

    Right now, we’re ranked at the very bottom of the list, but we’re at the top of the list in one thing: the cost per pupil.  We spend more money per pupil than any other country in the world, and yet it’s Denmark and Norway, Sweden.  And I — you hate to say this — and, you know, we’re going to get along very well with China, but it’s a competitor: They’re at the top of the list.  They’re among the top 10, usually.  And they’re a very big country, so we can’t use that as an excuse — right? — because we’re a very big country too.

    But we’re – we were ranked last time — under Biden, we were ranked 40 out of 40.  They do the 40 certain nations that they’ve done for a long time.  It seems to be 40, for whatever reason.  And we were ranked number 40.  A year ago, we were 38.  Then we were 39.  We’re — we hit 40.  And so, we’re last in that, and we’re first in cost per pupil.  So, I would say that’s unacceptable.

    Lawrence, do you have something?  Go ahead.

    Q    So, Mr. President, I know you like competition, and I know it’s early.  So, which department are you most impressed with? 

    And then, to Mr. Mu- — (laughter).  That’s the first one.  And, Mr. Musk, which department have you received the most resistance from? 

         Mr. President, you first.

    THE PRESIDENT:  Well, I think both of those questions are a little bit — well, you’re a pretty controversial guy.  (Laughter.)  Look, it’s very early.  Right now, I think I’m impressed with everybody.  So far, everybody.  If I wasn’t, in the first month, we’d — and some of them just got here.  They just got approved two days ago, right?

    But I think I’m very impressed with everybody.  So far, I’m very happy with all of the choices.

    I think that Elon has done incredibly with some groups.  And some groups are much easier than others.  It is true: State is a, you know, very difficult situation.  We’re right now negotiating very successfully, I think, with Russia and with Ukraine, and we have a lot of countries involved.  And we have to be a little bit careful what we do and who we’re terminating.  But Marco is doing that very — I think he’s going to be very precise.  It’s going to be —

    We’re cutting down government.  We’re cutting down the size of government.  We have to.  We’re bloated.  We’re sloppy.  We have a lot of people that aren’t doing their job.  We have a lot of people that don’t exist. 

         You look at Social Security as an example.  I mean, you have so many people in Social Security where, if you believe it, they’re 200 years old.  And what we’re doing is finding out: Are checks going out for that and is somebody cashing those checks who’s maybe 35 years old?  Okay? 

         So, there’s a lot of dishonesty.  There’s a lot of fraud. 

         But I think at this moment, I’ll take Elon off the spot.  I think that he’s impressed — he said it very well –better than I can say it — that he’s impressed with the people in this room.  Very impressed.  And I am too.  And it’s too early to say, but I think everybody is on board.  They all know — we want to balance a budget.  We want to have a balanced budget within a reasonably short period of time, meaning maybe by next year or the year after, but maybe — maybe even sooner than that. 

         Q    Mr. President, your — your number one issue was the border.  We just got new information that they’re doxing our federal agents.  They’re putting their personal information out there, these activists, and they’re disrupting the operations.  So, you got Tren de Aragua running all across the country —

         THE PRESIDENT:  Well, we have activists.  That’s true.  And a lot of those —

         Q    So, what are we going to do about the activists —

         THE PRESIDENT:  Yeah.  A lot of those activists are acting illegally.  And we’ll give that to our attorney general, and she’ll take a look at that very strongly.  But we’re also having tremendous support from Border Patrol, from ICE.  The ICE agents have been unbelievable.  Border Patrol — their leadership at Border Patrol has been incredible, and they’re working very well. 

         And, as you know — and I saw you reporting it this morning, actually — we set records on the least number of illegal aliens coming in, migrants coming into our country that we’ve had in more than 50 years.  And we did this all within a period of weeks, because we took over a mess.  The world was pouring in.  And remember, they were coming in from jails and prisons and mental institutions and insane asylums, and they were gang members and drug dealers.  Anybody who wanted to come in, they came.  And from not just South America, from all over the world.  So, it’s amazing what they’ve done. 

         And Kristi and — and Tom Homan, the job they’ve done has been absolutely amazing.  We set records for — and we want people to come into our country, by the way, but they want to come in — they have to come in legally. 

         I want that to be really understood.  We want people in our country, but they have to come in legally. 

         Q    Can I follow on that, Mr. President?

    Q    Mr. President.

    Q    About the — the Trump gold card idea —

         THE PRESIDENT:  Yeah.

         Q    — that you unveiled yesterday.

         THE PRESIDENT:  I hope you liked it.  (Laughter.)

         Q    I await more information.  But the question is: Does this reflect a view, on your part, that the American immigration system has never been properly monetized as you feel it should be?
        

         THE PRESIDENT:  Well, not so much monetized.  It hasn’t been properly run.  I get calls from, as an example, companies where they want to hire the number one student at a school.  A person comes from India, China, Japan, lots of different places, and they go to Harvard, the Wharton School of Finance.  They go to Yale.  They go to all great schools.  And they graduate number one in their class, and they are made job offers, but the offer is immediately rescinded because you have no idea whether or not that person can stay in the country.  I want to be able to have that person stay in the country. 

         These companies can go and buy a gold card, and they can use it as a matter of recruitment. 

         At the same time, the company is using that money to pay down debt.  We’re going to — we’re going to pay down a lot of debt with that.

         Q    Are they going to have to —

         THE PRESIDENT:  And I think the gold card is going to be used by — not only for that.  I mean, they’ll be used by companies.  I mean, I could see Apple — I’ve spoken with Tim Cook — and, by the way, he’s going to make a $500 billion investment in the country only because of the results of the election and, I think, because of tariffs.  He’s going to want to be in the country because of tariffs.  Because if you’re in the country, there is no tariff.  If you’re out of the country, you got to pay tariffs.  And that’s going to be a great investment, I think, that he’s making.  I know it’s going to be a great investment. 

         But we have to be able to get people in the country, and we want people that are productive people.  And I will tell you, the people that can pay $5 million, they’re going to create jobs.  They’re going to spend a lot of money on jobs.  They’re going to have to pay taxes on that too.  So, they’re going to be hiring people, they’re going to be bringing people in and companies in.  And, I don’t know, maybe it will sell like crazy.  I happen to think it’s going to sell like crazy.  It’s a bargain.

         But we’ll —

         Q    Will they have to commit to a certain number?

         THE PRESIDENT:  — know fairly soon.  I think Howard and — and Scott — a few of you, really, are responsible for it.  But, Howard, if you want to discuss that for a couple of minutes, I think I’d like to have you.  I think it’s going to be a very successful program.

         SECRETARY LUTNICK:  Sure.

         THE PRESIDENT:  This is Commerce.

         SECRETARY LUTNICK:  So, the EB-5 program, which has been around for many years, had investment of a million dollars into projects in America.  And those projects were often suspect, they didn’t really work out, there wasn’t any oversight of it.  And so, for a million-dollar investment, you got a visa, and then you came into the country and ended up with a green card. 

         So, it was poorly overseen, poorly executed.  Then you had our border open, where millions of people came through. 

         So, the idea is we will have a proper business.  We will modify the EB-5 agreement.  Kristi and I are working on it together.  For $5 million, they’ll get a license from the Department of Commerce.  Then they’ll make a proper investment on the EB-5, right?  And we think Scott and I will design the EB-5 investment model, because Scott and I are the best people together to do that.  So, this is joint. 

         This is exactly the Trump administration.  We all work together.  We work it out to be the best.  And if we sell — just remember — 200,000 — there’s a line for EB-5 of 250,000 right now — 200,000 of these gold green cards is $1 trillion

    to pay down our debt, and that’s why the president is doing it, because we are going to balance this budget, and we are going to pay off the debt under President Trump. 

         Q    Mr. —

    Q    And to qualify, do you have to promise and make commitments to create a certain number of jobs here in the U.S.?

         THE PRESIDENT:  No.  No.  Because not all these people are going to be job builders.  They’ll be successful people, or they’ll be people that were hired from colleges, like — sort of like paying an athlete a bonus.  I mean, Apple or one of the companies will go out and they’ll spend five mil- — they’ll buy five of them, and they’re going to get five people. 

         Look, I’ve had the complaint where — I’ve had the complaint from a lot of companies where they go out to hire people, and they can’t hire them b- — out of colleges.  And you know what they do?  They go back to India, or they go back to the country where they came, and they open up a company, and they become billionaires.  They become — and they’re employing thousands and there are a lot of examples. 

    There are some really big examples where they were forced out of the country.  They graduated top in their class at a great school, and they weren’t able to stay.  This is all the time you hear it. 

    And the biggest complaint I get from companies, other than overregulation, which we took care of, but we’re going to have to take care of it here, because a lot of that was put back on by Biden.  But the biggest complaint is the fact that they can’t have any longevity with people.  This way, they have pretty much unlimited longevity. 

    Also, with the $5 million, you know, that’s a path to citizenship.  So, that’s going to be — it’s sort of a green card-plus, and it’s a path to citizenship.  We’re going to call it the gold card.  And I think it’s going to be very treasured.  I think it’s going to do very well.  And we’re going to start selling, hopefully, in about two weeks.

    Now, just so you understand, if we sell a million — right? — a million, that’s $5 trillion.  Five trillion.  Howard was using a different number, but that’s $5 trillion.  If we sell 10 million, which is possible — 10 million highly productive people coming in or people that we’re going to make productive — they’ll be young, but they’re talented, like a talented athlete — that’s $50 trillion. 

    That means our debt is totally paid off, and we have $15 trillion above that.  And — now, I don’t know that we’re going to sell that many.  Maybe we won’t so many at all.  But I think we’re going to sell a lot, because I think there’s — there really is a thirst. 

    No other country can do this, because people don’t want to go to other countries.  They want to come here.  Everybody wants to come here, especially since November 5th.  (Laughter.)

    (Cross-talk.)

    SECRETARY LUTNICK:  They’ll all be vetted, by the way.  All these people will be vetted. 

    Q    How?

    SECRETARY LUTNICK:  Okay?  They’ll be vetted.

    Q    Mr. President, on Ukraine.  Can you talk a lot — a little bit about what type of security guarantees you’re willing to make?

    THE PRESIDENT:  Well, I’m not going to make security guarantees beyond very much.  We’re going to have Europe do that, because it’s in — you know, we’re talking about Europe is their next-door neighbor.  But we’re going to make sure everything goes well. 

    And as you know, we’ll be making a — we’ll be really partnering with Ukraine in terms of rare earth.  We very much need rare earth.  They have great rare earth.  We’ll be working with Secretary Burgum and with Chris.  You’ll be working on that together. 

    And we’re going to be able to have tremendous — I mean, this gives us — because we don’t have that much of it here.  We have some, but we don’t have that much, and we need a lot more to really propel us to the next level of — to lead in every way.  We’re leading right now with AI.  We’re leading with everything right now, but we have to — we need resources. 

    We have to double our electric capacity.  We have to do many things.  We have to really triple, if you think of it, the electric capacity from what we have right now, if you can believe it.  (Laughter.) 

    Q    But will the United States — can I —

    THE PRESIDENT:  So, I just say this.  So, the deal we’re making gets us — it brings us great wealth.  We get back the money that we spent, and we hope that we’re going to be able to settle this up. 

    We want to settle it.  We want to stop — I tell you what.  I’m doing it for two reasons, but the number one reason, by far, is to watch — all these people being killed.  I see pictures every week from — I assume satellite pictures, mostly, but there’s some pictures on site of thousands of soldiers that are being killed.  They’re being decimated, because equipment today — military equipment is so powerful and so devastating.  And, number one, I want to see people stop. 

    And they’re not from here.  They’re from primarily two other countries. 

    And then, by the way, let’s talk about the Middle East.  We got to solve that problem too.  And that’s come a long way.  We’re doing very well in that also.  A lot of things are happening on that.  But I’m watching soldiers being killed — Ukrainian and Russian soldiers being killed.  My number one thing is to get that stopped. 

    My number two thing is I don’t want to have to pay any more money, because we’ve — Biden has spent $350 billion without any chance of getting it back.  Now we’re going to be getting all of that money back, plus a lot more.  And we provided a great thing.  I mean, we’ve provided something very important, and we’ll be working with Ukraine and — because we’ll be taking that — we’re going to be taking what we’re entitled to take. 

    Now, they spent $350 billion, and Europe spent $100 billion.  Now, does anybody really think that’s fair?  But then we find out, a little while ago — not so long ago, a few months ago, I found out that the money they spent, they get back, but the money we spent, we don’t get back.  I said, “Well, we’re going to get it back.” 

    And we’ll be able to make a deal.  And again, President Zelenskyy is coming to sign the deal.  And it’s a great thing.  It’s a great deal for Ukraine, too, because they get us over there, and we’re going to be working over there.  We’ll be on the land.  And, you know, in that way, it’s — there’s sort of automatic security, because nobody’s going to be messing around with our people when we’re there.  And so, we’ll be there in that way. 

    But Europe will be watching it very closely.  I know that UK has said and France has said that they want to put — they volunteered to put so-called peacekeepers on the site.  And I think that’s a good thing.

    (Cross-talk.)

    Q    Mr. President, you had mentioned the high cost of eggs, and we’ve seen consumer confidence this week have a sharp drop from last month — the biggest dip in, I believe, three years.  Why is that — your assessment, why is that the case and is there anything you can do? 

    THE PRESIDENT:  Well, I think that consumer confidence — if you look at confidence in the nation, it had the biggest increase in the history of the chart.  It went up 42 points in a period of, like, days after the election, since the election.  So, since the election, the confidence in our nation — including right track, wrong track — the first time it’s ever happened, where we were on the right track, because this country has been on the wrong track for a long time. 

    So, the confidence in business, confidence in the country has reached an all-time high.  We have never reached levels like we are right now.

    Okay.

    (Cross-talk.)

    Q    Mr. President, you said — Mr. President, you’ve been very clear in saying that as long as you’re president, Iran will never get a nuclear weapon. 

    THE PRESIDENT:  That’s true. 

    Q    Is it also your policy that as long as you’re president, China will never take Taiwan by force?

    THE PRESIDENT:  I never comment on that.  I don’t comment on any — because I don’t want to ever put myself in that position.  And if I said it, I certainly wouldn’t be saying it to you.  I’d be saying it to other people, maybe people around this table — (laughter) — and very specific people around this table.  

    Q    Is it a concern (inaudible)?

    THE PRESIDENT:  So, I don’t want to put myself in that position.  But I can tell you what, I have a great relationship with President Xi.  I’ve had a great relationship with him.  We want them to come in and invest. 

    I see so many things saying that we don’t want China in this country.  That’s not right.  We want them to invest in the United States.  That’s good.  That’s a lot of money coming in.  And we’ll invest in China.  We’ll do things with China. 

    The relationship we’ll have with China would be a very good one.  I see all of these phony reports that we don’t want their money; we don’t want anything to do with them.  That’s wrong. 

    We’re going to have a good relationship with China, but they won’t be able to take advantage of us.  What they did to Biden was — he didn’t know what was happening.  He didn’t know what he was doing.  The administration didn’t know what they were doing.  It was very sad to watch. 

         But we’re going to have a good relationship with China and Russia and Ukraine and the Middle East.  We’re doing things that —

    Look, when I left, we had no wars.  We had defeated ISIS totally.  We had no inflation.  We didn’t have the Afghanistan withdrawal — the worst withdrawal anybody has ever seen.  I think that’s one of the reasons that President Putin looked at that.  He said, “Wow, these guys are a paper tiger.  Look at” — we’re no paper tiger. 

    Don’t forget: We got rid of ISIS in three weeks.  People said it would take five years.  We did it, because when I came in, I let them do what they had to do.  And the man that headed that operation is now going to be your — your chairman, right?

    SECRETARY HEGSETH:  Yes, sir.

    THE PRESIDENT:  Chairman of the Joint Chiefs. 

    SECRETARY HEGSETH:  Yes, sir.

    THE PRESIDENT:  And — “Razin” Caine.  I liked him right from the beginning.  As soon as I heard his name, I said, “That’s my guy.” 

    Okay.  Any other questions?

    (Cross-talk.)

    Q    Mr. President, has there been enough de- — decreases in crossings at the border for you to continue the pause on tariffs against Mexico and Canada?  And, if not —

    THE PRESIDENT:  No, no.  I’m going to — I’m not stopping the tariffs, no.  Millions of people have died because of the fentanyl that comes over the border. 

    Q    Even with the 90 percent drop in border crossings, though, this —

    THE PRESIDENT:  Well, that’s — well —

    Q    — last month compared to about a year ago?

    THE PRESIDENT:  Yeah, they’ve been good, but that’s also due to us.  Mostly due to us.  I mean —

    Q    Mr. President —

         Q    Mr. President, on CBS — 

    THE PRESIDENT:  — it’s very hard.  It’s, right now, very hard to come through the border.  But the — look, the damage has been done.  We’ve lost millions of people due to fentanyl.  It comes mostly from China, but it comes through Mexico, and it comes through Canada. 

    Q    Mr. Presi- —

    THE PRESIDENT:  And I have to tell you that, you know, on April 2nd — I was going to do it on April 1st, but I’m a little bit superstitious, so I made it April 2nd — the tariffs go on, not all of them but a lot of them.  And I think you’re going to see something that’s going to be amazing. 

    We’ve been taken advantage of as a country for a long period of time.  We’ve been — we’ve been tariffed, but we didn’t tariff.  Now, I did.  When I was here, I tariffed.  We took in $700 billion from China — $700 billion.  Not one president in this — in the history of our country took in 10 cents from China.  At the same time, China respected us. 

    Now, when COVID came in, that was a different deal.  I used to call it the China virus.  I guess I can call it the China virus again, but, you know, it was — it’s an accurate term, but I won’t do that out of respect to China.  Okay?

    (Cross-talk.)

    Say it again.  What?

    Q    On Gaza.  I just wondered if there’s any progress towards the second phase of the ceasefire that you can tell us about.

    THE PRESIDENT:  Well, I’m very disappointed when I see four — four bodies came in today.  These are young people.  Young people don’t die.  Okay?  Young people don’t die.  These are young people.  Four bodies came in today.  They think they’re doing us a favor by sending us bodies. 

    So, look, that’s a decision that has to be made by Israel, by Bibi, but Israel has to make that decision.  We got a lot of hostages back, but it’s very sad what happened to those people.  I mean, you had a young lady with her hand practically blown off.  You know why it blew up?  Because she put up her hand to try and stop a bullet that was coming her way, and it hit her hand and blew off her fingers, big part of her hand. 

    This is a vicious group of people, and Israel is going to have to decide what they’re doing.  Phase one is going to be ending.  Think of it: Today, they sent in four bodies.  Bodies. 

    And I will say one thing, though.  I’ve spoken to a lot of the parents and a lot of the people involved.  They want those bodies almost as much and maybe even just as much as they wanted their son or their daughter.  Amazing.  “Please, sir.  Please.  My son is dead, but they have his body.  Please can you get it for us?”  They — it’s the biggest thing.  It’s incredible the level — they want the bodies of these people.  They’re dead.  They’re dead. 

    And, you know, when I saw the ones that came in two weeks ago, they looked like they just got out of a concentration camp.  Then, the following week, a group came in, and they weren’t as bad — in as bad of shape.

    But Israel is going to have to make a decision.  You’re right, phase one, and now phase two has started.  And today, we got some, you know, very, very sad — we knew they were dead, by the way.  We knew they were going to be bodies, as opposed to people that were living.  But it’s a very sad situation. 

    At some point, somebody is going to say we got to do something about this.

    (Cross-talk.)

    Q    Mr. President, you were just talking about Afghanistan and the botched withdrawal.  Have all the generals or command staff that were involved with the withdrawal been fired or relieved of duty?

    THE PRESIDENT:  Well, that’s a great idea.  It’s — (laughter) — sorry, I’m not going to tell this man what to do, but I will say that.  If I had his place, I’d fire every single one of them, Pete.  Pete, that’s a very good question. 

    SECRETARY HEGSETH:  Well, it’s a question we’ve thought a lot about.  We’re doing a complete review of every single aspect of what happened with the botched withdrawal of Afghanistan and plan to have full accountability.  It’s one of the first things we announced at the Defense Department for that reason, sir. 

    Certainly General “Razin” Caine, who’s on his way in, was not a part of that.  Instead, was a part of leading the effort against ISIS by untying the hands of war fighters and finishing the job properly and then bringing our troops home. 

    So, we’re taking a very different view, obviously, than the previous administration, and there will be full accountability. 

    THE PRESIDENT:  I don’t see big promotions in that group.  (Laughter.)  And I think they’re going to be largely gone.  I know the man on my left.  I think they’re going to be largely gone. 

    That was a horrible display.  And, you know, I’ve dealt with the parents and the family of the 13 that were killed.  But, you know, nobody ever talks about the 40 that were so badly hurt, with the arms and the legs and the face and the whole thing — the missing arms and legs.  It was so terrible, the way that was handled.

    And it should have been gone through Bagram.  We have a big base with big fences that nobody can get in, and you have, you know, hundreds of acres, instead of a little local airport where the whole place went crazy.  That was so badly handled.  And I would think that most of those people are going to be gone. 

    Q    Are we going to take Bagram back?

    THE PRESIDENT:  So, I’ll tell you what has bothered me very much — very, very much: We give billions of dollars to Afghanistan.  Nobody knows that.  Nobody knew that.  Do you know we give billions of dollars to Afghanistan?  And yet we left behind all of that equipment, which wouldn’t have happened. 

    You know, we were getting out under me.  I’m the one that got it down to 5,000 people.  We were going to get out, but we were going to keep Bagram, not because of Afghanistan but because of China, because it’s exactly one hour away from where China makes its nuclear missiles. 

    So, we were going to keep Bagram.  We were going to keep a small force on Bagram.  We were going to have Bagram Air Base, one of the biggest air bases in the world.  One of the biggest runways, one of the most powerful runways, in the sense that it was very heavy concrete and steel.  You could carry about anything.  You could land anything on those runways. 

    We gave it up.  And you know who’s occupying it right now?  China.  China.  Biden gave it up.  So, we’re going to keep that, and we’re going to have a withdrawal, and we’re going to take our equipment.  We’re going to do it properly.  We’re going to do it very — we’re going to keep the equipment. 

         Well, they ran out.  It was — what happened there was a — in fact, you know, in all fairness to Putin, when he saw that, he said, “Well, this is our time to go and go into Ukraine,” I guess, because it was — the timing seemed to be about right. 

         But we send them billions of dollars in aid, which nobody knows.  If they — if the American public knew that — they know it now.  And if we’re doing that, I think they should give our equipment back.  And I told Pete to study that. 

    But we left billions — tens of billions of dollars’ worth of equipment behind.  Brand-new trucks.  You see them display it every year on their little roadway someplace where they have a road and they drive the — you know, waving the flag and talking about America.  Beautiful equipment that’s all — I mean, the top-of-the-line stuff, brand-new stuff.  Now it’s getting older. 

         But you know what?  We’re going to pay them.  I think we should get a lot of that equipment back. 

         You know that Afghanistan is one of the biggest sellers of military equipment in the world.  You know why?  They’re selling the equipment that we left.  We’re first.  They were second or third.  Can you believe it?  They’re selling 777,000

    rifles, 70,000 armor-plated — many of them were armor-plated trucks and vehicles — 70,000. 

         If you think of a used car lot, the biggest one in the country, you have — I would say, JD, if somebody had 500 cars, that would be a lot. 

    THE VICE PRESIDENT:  Yeah, that would be quite a lot.

    THE PRESIDENT:  This is 70,000 vehicles we had there, and we left it for them.  I think we should get it back.

         (Cross-talk.)

         Q    Mr. President, the spending bill that passed last night aims to cut $2 trillion.

         THE PRESIDENT:  Right.

         Q    Can you guarantee that Medicare, Medicaid, Social Security will not be touched?

         THE PRESIDENT:  Yeah.  I mean, I have said it so many times, you shouldn’t be asking me that question.  Okay?  This will not be “read my lips.”  It won’t be “read my lips” anymore: We’re not going to touch it.

         Now, we are going to look for fraud.  I’m sure you’re okay with that, like people that shouldn’t be on, people that are illegal aliens and others — criminals, in many cases.  And that’s with Social Security.  We have a lot of people — you see that immediately.  When you see people that are 200 years old that are being sent checks for Social Security — some of them are actually being sent checks. 

    So, we’re tracing that down, and I have a feeling that Pam is going to do a very good job with that.  But you have a lot of fraud. 

         But, no, I’m not — we’re not doing anything on that.

         Q    Mr. President, part of your mission, sir —

         Q    Mr. President — Mr. President, on CBS News.  Mr. President, you’re in litigation —
        
         Q    Part of your mission has been — thank you.  I’m sorry. 

         Part of your mission has been to restore executive control over the executive branch.  Is it your view of your authority that you have the power to call up any one of or all of the people seated at this table and issue orders that they’re bound to follow?

         THE PRESIDENT:  Oh, yeah.  They’ll follow the orders.  Yes, they will. 

         Q    No exceptions? 

         THE PRESIDENT:  No except- — well, let’s see.  Let me think.  Oh, yeah.  Yeah.  She’ll have an exception.  (The president points at Secretary Rollins.)  (Laughter.)

         Of course, no exceptions.  You know that.

         Q    Mr. President, can you clarify the Canada/Mexico tariffs.  You had put that 30-day pause. 

    THE PRESIDENT:  Yeah.

    Q    You just referred to —

         THE PRESIDENT:  It’s 25 percent.

         Q    Twenty-five percent.  When does it go into effect?

         THE PRESIDENT:  April 2nd. 

         Q    April 2nd for Canada and Mexico?

         THE PRESIDENT:  Correct.  And for —

         Q    And for the reciprocal?

         THE PRESIDENT:  — and for everything. 

         SECRETARY LUTNICK:  Well, we have the — the — fentanyl-related is a pause.  If they can prove to the president they’ve done an excellent job, that’s what they first do in 30 days.

         Q    Have you guys seen any changes?

         SECRETARY LUTNICK:  But then the overall is April 2nd.  So, the big transaction is April 2nd, but the fentanyl-related things, if they’re working hard on the border, at the end of that 30 days, they have to prove to the president that they’ve satisfied him to that regard.  If they have —

         THE PRESIDENT:  It’s going to be hard to satisfy.

         SECRETARY LUTNICK:  — then we’ll give them a pause or he won’t. 

         THE PRESIDENT:  It’s going to be hard to satisfy.

         SECRETARY LUTNICK:  But that’s up to him to see.

         THE PRESIDENT:  We lose 300,000 people a year to fentanyl.  Not 100-, not 95-, not 60-, like you read.  You know, you’ve been reading it for years. 

         We lost, in my opinion, over the last couple of years, on average, maybe close to 300,000 people dead, and the families are ruined.  You know, when they lose a daughter, when they lose a son, the families are never the same.  You’re never going to be the same.  So, you’re talking about a million people. 

         But when the daughters die, I see it — daughters die and the sons die because of fentanyl.  And in some cases, they don’t even know they’re taking it.  They — they’re buying something else, and it’s laced with fentanyl, and they end up dying.  And I’ve known many people who have lost children to fentanyl and for other reasons, but to fentanyl.  It’s such a big killer.  And those people are never the same people. 
        
         I mean, I’ve seen people that — for the rest of their lives, they’re not the same people.  They’re so different, it’s not even believable.  Dynamic people, happy people that are — they die a miserable death.  And that’s because of the crap that comes in through China and through Mexico and through Canada.  A lot of it comes through Canada. 

         The — Canada — look, we support Canada $200 billion a year in subsidies one way or the other.  We let them make millions of cars.  We let them send us lumber.  We don’t need their lumber.  We’re going to free up our lumber.  Lee is going to do — the head of environmental.  We’re going to free up our lumber.  We have the best lumber there is.  We don’t need their lumber.  What do we need their lumber for?

         When you look at the — we subsidize them $200 billion a year.  Without us, Canada can’t make it.  You know, Canada relies on us 95 percent.  We rely on them 4 percent.  Big difference.  And I say Canada should be our 51st state.  There’s no tariffs, no nothing. 
        
         And — and I say that, we give them military protection.  They have a very small military.  They spend very little money on military.  Or NATO, they’re just about last in terms of payment, because they say, “Why should we spend on military?”  That’s a tremendous cost.  Most nations can’t afford to even think about it.  “Why should we spend on military?  The United States protects us.” 

         And I would say that’s largely true.  We protect Canada.  But it’s not fair.  It’s not fair that they’re not paying their way.  And if they had to pay their way, they couldn’t exist. 

         When I spoke to — let’s call it the prime minister, rather than the governor.  (Laughter.)  But when I spoke to him, I said, “Why are we giving you $200 billion a year?”  He was unable to answer the question.  I said, “Why are we letting you make millions of cars and send them in?”  He was unable to answer the question — Justin Trudeau, a nice guy.  I think he’s a very good guy.  I call him Governor Trudeau. 

         He should be governor, because the fact is that if we don’t give them cars — we don’t have to give them cars.  The c- — tariffs will make it impossible for them to sell cars into the United States.  The tariffs will make it impossible to — for them to sell lumber or anything else into the United States. 

    And all I’m asking to do is break even or lose a little bit, but not lose $200 million.  And we love Canada.  I love Canada.  I love the people of Canada.  And — but, honestly, it’s not fair for us to be supporting Canada.  And if we don’t support them, they don’t subsist as a — as a nation. 

    Okay.

    Q    Mr. President, when you were talking to Elon —

    Q    Mr. President, on the EU tariffs.  Mr. President, have you made a decision on what level you will seek on tariffs on the European Union?

    THE PRESIDENT:  We have made a decision, and we’ll be announcing it very soon.  And it’ll be 25 percent, generally speaking, and that’ll be on cars and all other things. 

    And European Union is a different case than Canada — different kind of case.  They’ve really taken advantage of us in a different way.  They don’t accept our cars.  They don’t accept, essentially, our farm products.  They use all sorts of reasons why not.  And we accept everything of them, and we have about a $300 billion deficit with the European Union. 

    Now, I love the countries of Europe.  I guess I’m from there at some point, a long time ago, right?  (Laughter.)  But indirectly — well, pretty directly, too, I guess.  But I love the countries of Europe.  I — I love all countries, frankly.  All different.

    But European Union has been — it was formed in order to screw the United States.  I mean, look, let’s be honest.  The European Union was formed in order to screw the United States.  That’s the purpose of it, and they’ve done a good job of it, but now I’m president.

    Q    What will happen if these countries or the EU retaliate?

    THE PRESIDENT:  They can’t.  I mean, they can try, but they can’t. 

    Q    China did.  They imposed tariffs —

    Q    They are pledging to, sir.

    Q    — that are — went into effect, China’s retaliatory tariffs —

    THE PRESIDENT:  That’s right.  That’s right.  But —

    Q    — on the — the 10th of February.  Has there been any —

    THE PRESIDENT:  That’s right.

    Q    — impact that you’ve been able to observe?

    THE PRESIDENT:  That’s right.  No, they can do it, and they can try, but the numbers can never equal what ours, because we can go off.  We are the pot of gold.  We’re the one that everybody wants.  And they can retaliate, but it cannot be a successful retaliation, because we just go cold turkey.  We don’t buy anymore.  And if that happens, we win. 

    Q    Are you talking to Erik Prince about privatat- —

    THE PRESIDENT:  No.

    Q    — privatizing deportations?

    THE PRESIDENT:  No, I haven’t.  I haven’t.

    Q    Mr. President, you’re in litigation with CBS News.  Is this a case that you’d like to see go to trial, or are you open a settelm- —

    THE PRESIDENT:  With who?

    Q    CBS, the — “60 Minutes.”

    THE PRESIDENT:  CBS?

    Q    Yes.

    THE PRESIDENT:  Well, CBS did something that was amazing.  Kamala was unable to answer a question properly, and they took the question that they asked, and they inserted an answer.  They gave her an answer.  This was two days before the election, right before — the Sunday night before the election.  And they wrote out a — they put her words from another question that was asked about a half an hour later, and they put that into the question. 

    Nobody’s ever even heard of it before.  Nobody’s ever heard of anything like this before.  But they then did it, they say, on numerous occasions.  And the FCC is looking at it very strongly, and everybody’s looking at it, and I’m — but nobody’s ever seen anything. 

    Think of it.  They took her answers, and they changed them.  And I don’t mean they changed a word or two, or they cut off a half a sentence, or they cut off a couple of words.  I mean, I’ve had that happen too.  But that, you — you just say — you know, then they say, “Well, we want brevity.  You know, we wanted to do it for time.” 

    Q    Would — would you encourage —

    THE PRESIDENT:  They took out her answer, and they inserted an entirely different answer that made her sound competent.  And they did this, and nobody’s ever — I thought I’ve heard of everything when it comes to that stuff.  No — I’ve never heard of it.  Nobody has ever seen.  So, we sued, and we are in discussions of settlement. 

    Q    What would a number be?  Like a hu- — what — what’s a number that you would think would be appropriate?

    THE PRESIDENT:  I think it’s a lot.  (Laughter.) 

    Q    What’s the timeline and process —

    THE PRESIDENT:  No, I mean, it — look, it could have — it probably did affect the election.  I mean, we won by a lot.  As I said, “Too big to rig.”  But it probably did affect the election.  Yeah, probably could have won by more, but I could have lost the election because of that. 

    It’s — we have to get to honest elections.  We have to go back to paper ballots.  We have to go back to voter ID.  One-day election, ideally, or short term, not these 48-day and 61-day elections where boxes are put in a room, and, “Oh, let’s move the boxes, because we’re putting in a new air conditioning system.”  Then you see the boxes move, and then you say, “Well, where are all the boxes?”  You know, —

    Q    But would you —

    THE PRESIDENT:  “What happened to the boxes that never came back?” 

    No, our elections are extremely dishonest.  We’re the only country in the world that has mail-in voting and all of these different things that we put in.  Nobody — no other country in the world has it. 

    You know, France went to — they had some of the things that we had, and they went to same-day voting, all paper.  And, you know, paper is very sophisticated now.  It’s a very sophisticated — it’s a very sophisticated form of voting right now.  It’s a very safe form of voting. 

    You know, the other thing is for the governors.  I wish the governors would do it, because the paper ballots will cost 9 percent of the machines, and they’re 100 percent.  You know, they’re — I don’t — nothing’s foolproof, but they’re as close as you get.  So, we’ll see what happens. 

    But on the “60 Minute” thing, nobody’s ever seen anything like it. 

    Q    And would you link the FCC action to the litigation?  I mean, does it make se- —

    THE PRESIDENT:  I don’t think it’s linked, but probably the lawyers look at it, you know, because I know it’s going along.  FCC is headed by a very competent person, and you have some very competent people on the board, and so I think they’re looking at it very seriously. 

    Yeah.

    Q    Mr. President —

    Q    Sir, of all the deals that you’ve done in your life, all the people you’ve sat across from and negotiated with, is President Putin distinct in any way?

    THE PRESIDENT:  He’s a very smart guy.  He’s a very cunning person.  But I’ve dealt with some people that — I’ve dealt with some really bad people.  But I will tell you, as far as this is concerned, we’ve — you have to understand, he was — he had no intention, in my opinion, of settling this war.  I think he wanted the whole thing. 

    When I got elected, we spoke, and I think we’re going to have a deal.  I can’t guarantee you that.  You know, a deal is a deal.  Lots of crazy things happen in deals, right?  But I think we’re going to have a deal. 

    If I didn’t get elected, I believe he would have just continued to go through Ukraine, and over a period of time, a lot of people — a lot of people would have been killed.  It would have lasted for a period of time. 

    And the reason that Ukraine — and I give — I have great respect for the Ukraine as fighters.  They have great fighters.  But without our equipment, that war would have been over, like people said, in a very short period of time. 

    Q    Is there a timeline (inaudible) — 

    THE PRESIDENT:  And if you remember, I gave the Javelins, and the Javelins are the things that knocked out those tanks right at the beginning of the war.  They said that — that Obama, at the time, gave sheets, and Trump gave Javelins.  Well, I was the one that did that.  But I want to see it come to an end. 

    Q    Will he have to make concessions — President Putin?

    THE PRESIDENT:  Yeah, he will.  He will.  He’s going to have to.  And —

    Q    Can you preview that?

    THE PRESIDENT:  And I think — I believe that, because we got elected, that war will come to an end.  And I also believe, if we didn’t get elected, if this administration didn’t win the election by a lot, that that war would go on for a long time, and he would want to take the whole thing. 

    Q    What concessions?  What concessions?

    Q    On the — on the —

    THE PRESIDENT:  The big question I had is: Does he want to take the whole thing?  But the reason — and — and the Ukrainians are good fighters, I have to say, but without the equipment — without our equipment — we have the best equipment in the world.  We have the best military equipment in the world.  Without our equipment, that would have been over very quickly. 

    Q    What concessions would you like to see? 

    Q    On the (inaudible), sir?  On — on the —

    Q    What concessions would you like to see?

    THE PRESIDENT:  Oh, I don’t want to tell right now.  But I can tell you that NATO, you can forget about.  That’s been — I think that’s probably the reason the whole thing started.  And I think, JD, we can say that. 

    What — do you have a statement on that?  You’ve been very much involved. 

    THE VICE PRESIDENT:  (Laughs.)

    THE PRESIDENT:  I gave him the beauty.

    THE VICE PRESIDENT:  Great.  You gave me the — the hardest question, sir. 

    Q    Concessions from Russia.

    THE VICE PRESIDENT:  I mean, look, as the president said, we’re not going to do the negotiation in public with the American media.  He’s going to do it in private with the president of — of Russia, with the president of Ukraine, and with other leaders.  And I think that’s how this has to go. 

    I think the — I just want to push back against some of the criticism I’ve seen in the administration on this, because every single time the president engages in diplomacy, you guys preemptively accuse him of conceding to Russia.  He hasn’t conceded anything to anyone.  He’s doing the job of a diplomat, and he is, of course, the diplomat in chief as the president of the United States. 

    Q    On the gold cards, sir.  Can you talk a little bit more about the vetting process, you know —

    THE PRESIDENT:  They’ll go through a process.  The process is being worked out right now, and we’re going to be — we’re going to be very careful. 

    Q    And will there be restrictions on, for instance, can Chinese nationals get one? 

    THE PRESIDENT:  No, we’re not going to restrict. 

    Q    Can Iranian nationals get —

    THE PRESIDENT:  We’re probably not going to be restricting too much in — in terms of countries, but maybe in terms of individuals.  We want to make sure we have people that love our country and are capable of loving the country.

    Q    Is there a process, sir —

    Q    Mr. President, there is a measles outbreak in Texas at the moment in which a child is reported to have died.  Do you have concerns about that?  And have you asked Secretary Kennedy to look into that outbreak? 

    THE PRESIDENT:  Well, why don’t we — Bobby, do you want to speak on that, please?

    SECRETARY KENNEDY:  We are following the measles epidemic every day.  I think there’s 124 people who have contracted measles at this point, mainly in Gaines County, Texas; mainly, we’re told, in the Mennonite community. 

    There are two people who have died, but the — we’re watching it.  And there — there are about 20 people hospitalized, mainly for quarantine. 

    We’re watching it.  We put out a post on it yesterday, and we’re going to continue to follow it. 

    Q    Mr. President —

    SECRETARY KENNEDY:  Inci- — incidentally, there have been four measles outbreaks this year in this country.  Last year, there were 16.  So, it’s not unusual.  We have measles outbreaks every year. 

    Q    You sound a little under the weather yourself right now.  Are you all right?

    SECRETARY KENNEDY:  I just — I have a permanently bad throat. 

    Q    (Inaudible) coughing.

    Q    Mr. President, would you — would you send U.S. peacekeepers to just — to support the — the European peacekeepers?  Would you do any sort of U.S. —

    THE PRESIDENT:  No, we’re going to support Europe, yeah. 

    Q    And how would we do that?  How would the United States do that?

    THE PRESIDENT:  We’re very friendly with Europe.  We have a great relationship with Europe.  I mean, you could ask — you could talk about France.  You could talk about any of them.  Yeah, we have a great relationship with Europe. 

    Q    But how will we — how will the United States do that?  Would there be boots on —

    THE PRESIDENT:  Well, how?  I mean, you’re asking me a question: What are we doing in the — let’s worry — I hope we have that problem, where we can worry about peacekeeping.  We got to get there first.

    (Secretary Lutnick knocks on the table.)

    But I hope we have the problem of worrying about peacekeeping.  That’ll be the easiest problem, I think, JD, that we’ve ever had.  (Laughter.)

    THE VICE PRESIDENT:  I think so, sir.

    Q    That would be part of the deal, presumably, that the Ukrainians —

    THE PRESIDENT:  We’ll — we’re —

    Q    — would want —

    THE PRESIDENT:  We’ll do it at the time, but we’ll — peacekeeping is very easy.  It’s making the deal that’s very tough. 

    And, again, nobody was speaking to Russia at all.  And, you know, probably a million and a half soldiers have been killed — close to a million and a half soldiers, not to mention a treme- — I will tell you, the — the thing with that horrible war that should have never started — it would have never started if I were president, and it didn’t start for four years, and it was not even thought about starting.  But the thing with that war is that you’re highly underestimating the number of people that have been killed.  Far more people have been killed in that war than you talk about.  You know, you like to talk about numbers, like, a million people.  Well, they had much more than a million soldiers killed.

    But you have a lot of cities that have been knocked to the ground.  They’re demolition sites.  Literally, demolition sites.  Every single building is knocked to the ground, and a lot of people were killed in those buildings.  And you’ll hear a report, “Two people were minorly injured” or “just injured a little bit.”  No.  No.  People were killed by the thousands.

    And there are a lot more people killed in that war than the media wants to talk about, because Biden did a horrible, horrible job.  He should have prevented that war.  He could have prevented that war. 

    Putin would have never gone in.  I’ll tell you one thing: He would have never gone in.  That war would never have taken place if I were president. 

    Q    I think what people are trying to understand, Mr. President —

    Q    Mr. President —

    Q    — is how would the United States — what would you be willing to do to support this European peacekeeping effort?  Would there be —

    THE PRESIDENT:  Again, you’re asking me the same question?  (Laughter.)

    Q    I’m just trying —

    THE PRESIDENT:  How many times do you have to answer it?  You’re talking about after we make peace.  Let me make peace first. 

    Once we make peace, I’ll give you all the answers you want.  But how many times can you ask the same question?

    Q    Mr. President, on the Middle East.  Did you receive —

    Q    Is loosening the sanctions on —

    THE PRESIDENT:  Yeah, go ahead.  Behind.

    Q    Is loosening the sanctions on Russia a potential option as part of an overall deal?

    THE PRESIDENT:  Not now, no.  No.  We have sanctions on Russia.  No, I want to see if we make a deal first.  But I think we will.  I’ve had very —

    Q    But is it a bargaining chip, I’m asking.

    THE PRESIDENT:  I’ve had very good conversations with President Putin.  I’ve had very good conversations with President Zelenskyy.  And until four weeks ago, nobody had conversations with anybody.  It wasn’t even a consideration.  Nobody thought you could make peace.  I think you can. 

    Q    Mr. President, just —

    Q    But if Mr. Putin gets to keep his —

    Q    — just to bring this —

    Q    — the land that was claimed by force, if the Russians get to keep the territory that they — they claimed by force, doesn’t that send a dangerous message, let’s say, to China about Taiwan?

    THE PRESIDENT:  Oh, okay.  You try and take it away, right?  We’re going to do the best we can.  (Laughter.)  We’re going to do the best we can to make the best deal we can for both sides.  But for Ukraine, we’re going to try very hard to make a good deal so that they can get as much back as possible.  We want to get as much back as possible. 

    Q    Mr. President, just to bring this full —

    THE PRESIDENT:  And we’ll — we’ll cut it out after maybe this question.  Go ahead.

    Q    To bring this full circle, back to —

    THE PRESIDENT:  Unless it’s a bad question, and then we’ll (inaudible).  (Laughter.)

    Q    And back to —

    THE PRESIDENT:  You always like to finish on a good one.

    THE VICE PRESIDENT:  But, sir, they want you to negotiate with them instead of President Putin.

    THE PRESIDENT:  I know.  I know.

    Q    Back to the question about the —

    THE PRESIDENT:  They want to continue to talk about the peacekeepers.  (Laughter.)  They’re — you have a lot of confidence in us, because you assume there’s going to be peace.  You know, it’s possible it doesn’t work out.  There is possibility. 

         Q    And I had —

         THE PRESIDENT:  But I hope it does, for the sake of humanity, because if you look at the pictures that I’ve looked at, you don’t want to look at them. 

         Go ahead.

         Q    I had a question back on these cuts to the federal workforce.  You mentioned you — you’re interested in doing another round of this email.  When would you like to

    see that?  What would be the deadline?  And —

         THE PRESIDENT:  I — I’m not — I think —

         Q    — this time, would it be mandatory?

         THE PRESIDENT:  I think Elon — I think Elon wants to.  And I think it’s a good idea because, you know, those people, as I said before, they’re on the bubble.  You got a lot of people that have not responded, so we’re trying to figure out, do they exist?  Who are they?  And it’s possible that a lot of those people will be actually fired. 

         Q    And —

         THE PRESIDENT:  And if that happened, that’s okay, because that’s what we’re trying to do. 

         This country has gotten bloated and fat and disgusting and incompetently run. 

         I think we had the worst president in the history of our country.  He just left office.  I think he’s a disgrace.  What he’s done to our country by allowing millions of people to come into our country like that and all of the other things — the inflation, which he caused because of energy and stupid spending.  To spend hundreds of millions, trillions and trillions of dollars on the Green New Scam — a total scam.  I have the best energy people, the best environmental people in the world around this table, and they — they can’t even believe he got away with it. 

         And then, in leaving office, to send $20 billion here and $20 million there and $10 million and $5 million, and they couldn’t spend the money fast enough, and “Let’s get it out before Trump gets in.  Let’s just get it out to anybody.”  This is a disgrace to our nation.

         And you don’t write the fair thing.  But, look, you know the good news?  The people see it, and that’s why we won the election by so much. 

         Thank you very much, everybody.  I appreciate it.  Thank you.  Thank you.   

         Q    Thank you, Mr. President.

         THE PRESIDENT:  Thank you very much, Doug.  Pulitzer Prize.

         THE VICE PRESIDENT:  Sir, how many peacekeepers are you going to send to — (laughter) —

         THE PRESIDENT:  “What will you do?”  “How will it be?”  (Laughter.)

         SECRETARY LUTNICK:  “How will you address this?”

                                    END            12:47 P.M. EST

    MIL OSI USA News

  • MIL-OSI Economics: Newest models in Microsoft’s Phi family empower developers with advanced AI capabilities

    Source: Microsoft

    Headline: Newest models in Microsoft’s Phi family empower developers with advanced AI capabilities

    We are excited to announce Phi-4-multimodal and Phi-4-mini, the newest models in Microsoft’s Phi family of small language models (SLMs). These models are designed to empower developers with advanced AI capabilities.

    We are excited to announce Phi-4-multimodal and Phi-4-mini, the newest models in Microsoft’s Phi family of small language models (SLMs). These models are designed to empower developers with advanced AI capabilities. Phi-4-multimodal, with its ability to process speech, vision, and text simultaneously, opens new possibilities for creating innovative and context-aware applications. Phi-4-mini, on the other hand, excels in text-based tasks, providing high accuracy and scalability in a compact form. Now available in Azure AI Foundry, HuggingFace, and the NVIDIA API Catalog where developers can explore the full potential of Phi-4-multimodal on the NVIDIA API Catalog, enabling them to experiment and innovate with ease. 

    What is Phi-4-multimodal?

    Phi-4-multimodal marks a new milestone in Microsoft’s AI development as our first multimodal language model. At the core of innovation lies continuous improvement, and that starts with listening to our customers. In direct response to customer feedback, we’ve developed Phi-4-multimodal, a 5.6B parameter model, that seamlessly integrates speech, vision, and text processing into a single, unified architecture.

    By leveraging advanced cross-modal learning techniques, this model enables more natural and context-aware interactions, allowing devices to understand and reason across multiple input modalities simultaneously. Whether interpreting spoken language, analyzing images, or processing textual information, it delivers highly efficient, low-latency inference—all while optimizing for on-device execution and reduced computational overhead.

    Redefining what’s possible with SLMs

    Natively built for multimodal experiences

    Phi-4-multimodal is a single model with mixture-of-LoRAs that includes speech, vision, and language, all processed simultaneously within the same representation space. The result is a single, unified model capable of handling text, audio, and visual inputs—no need for complex pipelines or separate models for different modalities.

    The Phi-4-multimodal is built on a new architecture that enhances efficiency and scalability. It incorporates a larger vocabulary for improved processing, supports multilingual capabilities, and integrates language reasoning with multimodal inputs. All of this is achieved within a powerful, compact, highly efficient model that’s suited for deployment on devices and edge computing platforms.

    This model represents a step forward for the Phi family of models, offering enhanced performance in a small package. Whether you’re looking for advanced AI capabilities on mobile devices or edge systems, Phi-4-multimodal provides a high-capability option that’s both efficient and versatile.

    Unlocking new capabilities

    With its increased range of capabilities and flexibility, Phi-4-multimodal opens exciting new possibilities for app developers, businesses, and industries looking to harness the power of AI in innovative ways. The future of multimodal AI is here, and it’s ready to transform your applications.

    Phi-4-multimodal is capable of processing both visual and audio together. The following table shows the model quality when the input query for vision content is synthetic speech on chart/table understanding and document reasoning tasks. Compared to other existing state-of-the-art omni models that can enable audio and visual signals as input, Phi-4-multimodal achieves much stronger performance on multiple benchmarks.

    Phi-4-multimodal has demonstrated remarkable capabilities in speech-related tasks, emerging as a leading open model in multiple areas. It outperforms specialized models like WhisperV3 and SeamlessM4T-v2-Large in both automatic speech recognition (ASR) and speech translation (ST). The model has claimed the top position on the Huggingface OpenASR leaderboard with an impressive word error rate of 6.14%, surpassing the previous best performance of 6.5% as of February 2025. Additionally, it is among a few open models to successfully implement speech summarization and achieve performance levels comparable to GPT-4o model. The model has a gap with close models, such as Gemini-2.0-Flash and GPT-4o-realtime-preview, on speech question answering (QA) tasks as the smaller model size results in less capacity to retain factual QA knowledge. Work is being undertaken to improve this capability in the next iterations.

    Phi-4-multimodal with only 5.6B parameters demonstrates remarkable vision capabilities across various benchmarks, most notably achieving strong performance on mathematical and science reasoning. Despite its smaller size, the model maintains competitive performance on general multimodal capabilities, such as document and chart understanding, Optical Character Recognition (OCR), and visual science reasoning, matching or exceeding close models like Gemini-2-Flash-lite-preview/Claude-3.5-Sonnet.

    What is Phi-4-mini?

    Phi-4-mini is a 3.8B parameter model and a dense, decoder-only transformer featuring grouped-query attention, 200,000 vocabulary, and shared input-output embeddings, designed for speed and efficiency. Despite its compact size, it continues outperforming larger models in text-based tasks, including reasoning, math, coding, instruction-following, and function-calling. Supporting sequences up to 128,000 tokens, it delivers high accuracy and scalability, making it a powerful solution for advanced AI applications.

    To understand the model quality, we compare Phi-4-mini with a set of models over a variety of benchmarks as shown in Figure 4.

    Function calling, instruction following, long context, and reasoning are powerful capabilities that enable small language models like Phi-4-mini to access external knowledge and functionality despite their limited capacity. Through a standardized protocol, function calling allows the model to seamlessly integrate with structured programming interfaces. When a user makes a request, Phi-4-Mini can reason through the query, identify and call relevant functions with appropriate parameters, receive the function outputs, and incorporate those results into its responses. This creates an extensible agentic-based system where the model’s capabilities can be enhanced by connecting it to external tools, application program interfaces (APIs), and data sources through well-defined function interfaces. The following example simulates a smart home control agent with Phi-4-mini.

    At Headwaters, we are leveraging fine-tuned SLM like Phi-4-mini on the edge to enhance operational efficiency and provide innovative solutions. Edge AI demonstrates outstanding performance even in environments with unstable network connections or in fields where confidentiality is paramount. This makes it highly promising for driving innovation across various industries, including anomaly detection in manufacturing, rapid diagnostic support in healthcare, and enhancing customer experiences in retail. We are looking forward to delivering new solutions in the AI agent era with Phi-4 mini.
     
    —Masaya Nishimaki, Company Director, Headwaters Co., Ltd. 

    Customization and cross-platform

    Thanks to their smaller sizes, Phi-4-mini and Phi-4-multimodal models can be used in compute-constrained inference environments. These models can be used on-device, especially when further optimized with ONNX Runtime for cross-platform availability. Their lower computational needs make them a lower cost option with much better latency. The longer context window enables taking in and reasoning over large text content—documents, web pages, code, and more. Phi-4-mini and multimodal demonstrates strong reasoning and logic capabilities, making it a good candidate for analytical tasks. Their small size also makes fine-tuning or customization easier and more affordable. The table below shows examples of finetuning scenarios with Phi-4-multimodal.

    Tasks Base Model Finetuned Model Compute
    Speech translation from English to Indonesian 17.4 35.5 3 hours, 16 A100
    Medical visual question answering 47.6 56.7 5 hours, 8 A100

    For more information about customization or to learn more about the models, take a look at Phi Cookbook on GitHub. 

    How can these models be used in action?

    These models are designed to handle complex tasks efficiently, making them ideal for edge case scenarios and compute-constrained environments. Given the new capabilities Phi-4-multimodal and Phi-4-mini bring, the uses of Phi are only expanding. Phi models are being embedded into AI ecosystems and used to explore various use cases across industries.

    Language models are powerful reasoning engines, and integrating small language models like Phi into Windows allows us to maintain efficient compute capabilities and opens the door to a future of continuous intelligence baked in across all your apps and experiences. Copilot+ PCs will build upon Phi-4-multimodal’s capabilities, delivering the power of Microsoft’s advanced SLMs without the energy drain. This integration will enhance productivity, creativity, and education-focused experiences, becoming a standard part of our developer platform.

    —Vivek Pradeep, Vice President Distinguished Engineer of Windows Applied Sciences.

    1. Embedded directly to your smart device: Phone manufacturers integrating Phi-4-multimodal directly into a smartphone could enable smartphones to process and understand voice commands, recognize images, and interpret text seamlessly. Users could benefit from advanced features like real-time language translation, enhanced photo and video analysis, and intelligent personal assistants that understand and respond to complex queries. This would elevate the user experience by providing powerful AI capabilities directly on the device, ensuring low latency and high efficiency.
    2. On the road: Imagine an automotive company integrating Phi-4-multimodal into their in-car assistant systems. The model could enable vehicles to understand and respond to voice commands, recognize driver gestures, and analyze visual inputs from cameras. For instance, it could enhance driver safety by detecting drowsiness through facial recognition and providing real-time alerts. Additionally, it could offer seamless navigation assistance, interpret road signs, and provide contextual information, creating a more intuitive and safer driving experience while connected to the cloud and offline when connectivity isn’t available.
    3. Multilingual financial services: Imagine a financial services company integrating Phi-4-mini to automate complex financial calculations, generate detailed reports, and translate financial documents into multiple languages. For instance, the model can assist analysts by performing intricate mathematical computations required for risk assessments, portfolio management, and financial forecasting. Additionally, it can translate financial statements, regulatory documents, and client communications into various languages and could improve client relations globally.

    Microsoft’s commitment to security and safety

    Azure AI Foundry provides users with a robust set of capabilities to help organizations measure, mitigate, and manage AI risks across the AI development lifecycle for traditional machine learning and generative AI applications. Azure AI evaluations in AI Foundry enable developers to iteratively assess the quality and safety of models and applications using built-in and custom metrics to inform mitigations.

    Both models underwent security and safety testing by our internal and external security experts using strategies crafted by Microsoft AI Red Team (AIRT). These methods, developed over previous Phi models, incorporate global perspectives and native speakers of all supported languages. They span areas such as cybersecurity, national security, fairness, and violence, addressing current trends through multilingual probing. Using AIRT’s open-source Python Risk Identification Toolkit (PyRIT) and manual probing, red teamers conducted single-turn and multi-turn attacks. Operating independently from the development teams, AIRT continuously shared insights with the model team. This approach assessed the new AI security and safety landscape introduced by our latest Phi models, ensuring the delivery of high-quality capabilities.

    Take a look at the model cards for Phi-4-multimodal and Phi-4-mini, and the technical paper to see an outline of recommended uses and limitations for these models.

    Learn more about Phi-4

    We invite you to come explore the possibilities with Phi-4-multimodal and Phi-4-mini in Azure AI Foundry, Hugging Face, and NVIDIA API Catalog with a full multimodal experience. We can’t wait to hear your feedback and see the incredible things you will accomplish with our new models. 

    MIL OSI Economics

  • MIL-OSI China: 5th China International Consumer Products Expo to spotlight high-tech innovation

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

    HAIKOU, Feb. 26 — The fifth China International Consumer Products Expo (CICPE), a key platform for global trade and consumption trends, will take place in Haikou, the capital city of south China’s Hainan Province, from April 13 to 18, the event’s organizers announced at a press briefing on Wednesday.

    Co-hosted by China’s Ministry of Commerce and the Hainan provincial government, this year’s expo will feature expanded international participation and first-time innovations.

    Aligning with China’s innovation priorities, the expo will highlight sectors such as artificial intelligence, low-altitude aviation, smart vehicles and digital health. Tech leaders like Huawei, iFLYTEK and Tesla will showcase cutting-edge solutions.

    The main venue remains the Hainan International Convention and Exhibition Center this year, with additional duty-free shopping zones in international duty-free complexes in Haikou and Sanya. A yacht exhibition will also be held in Sanya.

    Newcomers to the event will include delegations from Slovakia, Brazil and Singapore. Multinational giants such as U.S.-based Estée Lauder and Germany’s Volkswagen will also be among this year’s exhibitors.

    Domestic exhibitors will present premium and local products, and a section of the expo will be dedicated to connecting foreign buyers with Chinese manufacturers through tailored investment matchmaking.

    The CICPE is China’s only national-level exhibition featuring consumer products, and it is the largest consumer expo in the Asia-Pacific region.

    MIL OSI China News