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Category: Australia

  • MIL-Evening Report: Donald Trump is picking fights with leaders around the world. What exactly is his foreign policy approach?

    Source: The Conversation (Au and NZ) – By Brendon O’Connor, Professor in U.S. Politics and U.S. Foreign Relations, United States Studies Centre,, University of Sydney

    Since returning to the US presidency, Donald Trump has outdone himself, gaining global media headlines and attention with outrageous statements and dramatic decisions.

    The most consequential decision so far has been the freezing of many US aid and development programs. The freeze had an immediate impact. Even with some waivers now in place, it is likely that starving people in Ethiopia will not get the famine relief desperately needed; food is rotting in African harbours as constitutional battles over executive power are waged in Washington.

    In Africa alone, the US has also been funding lifesaving malaria prevention efforts and HIV/AIDS drug programs. Elon Musk’s so-called Department of Government Efficiency has cruelly disrupted those.

    There are numerous examples of other reckless policy decisions. In terms of long term consequences, arguably the worst decision Trump has made is pulling the United States out of the Paris Agreement on climate change. He also wound back a slew of Biden administration policies while erasing the term “climate change” from various government websites.

    Trump has attempted to bully Mexico and Canada with threats of a 25% tax on all imports from those two trading partners. He has also imposed a 10% tariff on all Chinese imports coming into the US.

    Then there are Trump’s statements on Ukraine, Gaza and Panama. Last weekend, his treatment of Ukrainian President Volodymyr Zelensky in the White House meeting caused widespread dismay around the world, as Trump doubled down on his promotion of Putin’s talking points and Russian government interests.

    So what’s Trump’s game plan?

    With Trump, it is tempting to claim he is a chaos merchant with no plan or method to his madness. According to this view, when he is challenged or criticised, he will escalate the threats and increase the insults.

    Therefore, conventional wisdom has it that the best way to deal with Trump is to flatter and humour him, then wait for his attention to be distracted by another prize. This understanding of Trump has been developed by international relations scholar Daniel Drezner into the “toddler-in-chief” thesis.

    Psychological understandings of Trump are useful to a point, but it is worth remembering presidencies are run by vast administrations of people, departments and agencies, and not just one person. Moreover, an institution as large as the US Defense Department – with its two million employees and military bases in at least 80 countries around the world – has a near permanent mindset of its own. This, in turn, tends to make presidents as seemingly different as Obama and Trump custodians of many similar military policies and postures.

    The way I have initially examined Trump in my own research is to see him as a hardline conservative nationalist who believes projecting US power with tough talk and reminding other nations of American military might is the best approach to world politics.

    Previous Republican presidents, most notably George W. Bush and Ronald Reagan, adopted this so-called “cowboy” approach. It’s a posture that rejects the idea that the US is the leader of a liberal international order (a leadership role promoted by their Democratic party opponents).

    My starting point for analysis sees continuities between Reagan, Bush and Trump, and highlights their arrogance and ignorance when it comes to dealing with the rest of the world.

    Similar, but different

    However, there are some things about Trump that are clearly different and distinct. Before his second term, the most unusual aspect of Trump’s foreign policy approach was the volume and range of his scattergun rhetoric towards other leaders and nations. For example, he threatened North Korea with “fire and fury and, frankly, power, the likes of which this world has never seen before”, but later told a rally of supporters that, “We fell in love. No, really. He wrote me beautiful letters.”

    As for academic perspectives that might help us better understand what kind of politician Trump is and what his next moves might be, the obvious label is “crudely transactional”. His attitude to most minor and middle powers seems to be “what have you done for me lately?” or “why does America owe your nation anything?”.

    When it comes to Russia, and potentially China, there has been speculation Trump is adopting a geopolitical approach with parallels to the “great game” of the 19th century. The “great game” is another way of saying imperialism, and this is a largely underused way of describing American foreign policy in general and the second Trump administration in particular.

    Then there is the question of whether the (other) “f-word” is a useful way to understand Trump and Trumpism: are his rhetoric and his domestic and international policies fascist? They are definitely ultra-nationalist and racist, which are two key components of fascism; Trumpism revolves around a charismatic leader that has enough in common with fascist Italy and Nazi Germany to make opponents of Trump justifiably nervous. But does Trumpism have the other key element of fascism: mob or state violence that is at times directed at scapegoated enemies?

    There is certainly an embrace of revenge and cruelty by Trump in general, which is being carried out in practice by Musk’s DOGE project. However, whether it is useful to call the second Trump administration fascist, or just fascistic for now, is a complex question within scholarly circles.

    Five weeks into the second Trump administration, and many of the most destructive ideas that were laid out last year in the unofficial campaign manifesto Project 2025 are being put into place. It has been a long-term dream of many hardline conservatives to gut America’s foreign aid and development programs, which is now happening at a frightening pace.

    What lies ahead that turns rhetoric into reality is hard to entirely predict, but many of Trump’s utterances this year have clearly been imperialistic and fascistic. Trump does not have to ignore the constitution or be a textbook fascist to be a terribly dangerous president. Being an authoritarian, which he has no qualms about embracing, is worrying enough.

    Brendon O’Connor 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. Donald Trump is picking fights with leaders around the world. What exactly is his foreign policy approach? – https://theconversation.com/donald-trump-is-picking-fights-with-leaders-around-the-world-what-exactly-is-his-foreign-policy-approach-251238

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Misinformation on refugees and migrants is rife during elections. We found 6 ways it spreads – and how to stop it

    Source: The Conversation (Au and NZ) – By Daniel Ghezelbash, Professor and Director, Kaldor Centre for International Refugee Law, UNSW Law & Justice, UNSW Sydney

    Gorodenkoff/Shutterstock

    Misinformation is a significant threat to our society. It undermines public discussion, erodes social cohesion, leads to bad policy and weakens democracy.

    Misinformation on refugee and migrant issues is particularly pervasive – especially in the lead up to elections, as bad-faith actors try to promote fear, distrust and simplistic solutions.

    And sometimes, misinformation is specifically targeted at migrant communities themselves, sowing division in an effort to influence elections.

    So, what’s the best way to counter misinformation about refugees and migrants? And given the risk that publicly addressing lies and rumours can sometimes end up spreading them, when is misinformation best ignored?

    A new report by the Kaldor Centre for International Refugee Law and the Behavioural Insights Team (a behavioural science research company) uses science to answer these questions.

    Behavioural science explains why and how misinformation works. Understanding some of that science can empower all of us to stop its spread.

    Misinformation increases during elections

    The recent US presidential race provides a stark example of how misinformation on refugees and migrants soars during elections.

    During one presidential debate, Donald Trump falsely claimed migrants in Ohio were “eating the pets”. Though entirely untrue, this baseless claim spread rapidly across social media.

    Australia is not immune to such deception. While refugees and migrants make significant positive economic, social and cultural contributions to their host societies, politicians across the spectrum have falsely blamed them for issues ranging from rising house prices to crime.

    This is not new. Back in the 2001 election campaign, government ministers made false claims that people seeking asylum had thrown their children overboard from a boat. These are widely regarded as having contributed to turning around the fortunes of the Howard government, which was then trailing in the polls.

    Instead of addressing challenges with real solutions, these strategies scapegoat refugees and migrants, and ignore their immense positive contributions.

    Misinformation leads to a more divided and polarised society. So, how does it spread?

    6 ways misinformation spreads

    Online platforms create the perfect breeding ground for misinformation to spread.

    The rise of AI-generated misinformation – such as highly convincing deepfake images and videos – only exacerbates the problem.

    Combating misinformation begins with understanding the psychological factors that drive its spread and influence.

    Our new report identifies six key behavioural science principles that explain how misinformation takes hold:

    1. Hot states: Heightened emotions, such as fear, outrage or anxiety, make people more reactive and less critical of misleading claims.

    2. The messenger effect: People judge a message’s truth based on who shares it, often trusting friends and family over experts.

    3. The mere-exposure effect: Seeing misinformation multiple times makes it seem more true, making people more likely to share it.

    4. Confirmation bias: People are more likely to believe false information that aligns with their values and reject facts that challenge them.

    5. Cognitive load: When overwhelmed by information, people are less likely to question what they see, making them more vulnerable to falsehoods.

    6. Continued influence effect: Misinformation has a lasting effect on our attitudes and decisions, even after it has been corrected.

    Building on these principles and an extensive review of research literature, we developed an evidence-based framework for countering misinformation about refugees and migrants.

    It provides a step-by-step guide on what to do when faced with falsehoods, starting with recognising whether the misinformation is anticipated or already circulating.

    Think before you like or share.
    fizkes/Shutterstock

    When misinformation is anticipated

    When you expect a particular false claim, but it’s not yet out there, then prebunk. Alert people to manipulation tactics before they become widespread.

    This helps people recognise and resist misinformation before it takes hold.

    When misinformation is already circulating

    If false claims are already out there, first ask three questions before acting:

    1. is the claim prominent (visible and gaining traction)?
    2. is it persuasive (able to change people’s minds)?
    3. is it proximate (relevant to your audience and cause)?

    If the answer to any of these questions is no, then reframe the agenda. Instead of amplifying falsehoods, shift your resources to sharing stories that reinforce accurate information and resonate with your audience’s values.

    If misinformation is indeed prominent, persuasive and proximate, debunk it.

    Use the fact, myth, fallacy, fact – or “fact sandwich” – method. Make the correction clear, credible and effective by stating the truth, then presenting the myth, explaining its flaws, and reinforcing the correct fact.

    Here’s an example that leads with a fact, warns about the myth, explains the fallacy and then ends with a fact:

    When Australia’s borders were closed during COVID, migration was at its lowest in a century — yet house prices still went up. The idea that cutting migration will magically solve the housing crisis doesn’t hold up against the evidence.

    But some political actors are blaming migrants, as if they’re the main reason housing has become unaffordable.

    In fact, this oversimplifies the problem. The housing crisis has been a long time in the making, and it’s now this severe because of past policy choices piling up.

    There are many drivers of Australia’s housing crisis, including a lack of housing, rising construction costs, and tax breaks that distort the market. Migration is only a small piece of the puzzle.

    How to engage audiences

    The report also details seven strategies that drive reach and impact. These include publicly communicating in a way that’s:

    One part of a broader approach

    These strategies can be used by anyone seeking to push back against misinformation in our public debate, not just about refugees and migrants.

    However, communication approaches are only one lever.

    To turn the tide on misinformation, society needs systemic solutions. These include media literacy education and regulatory reform of online platforms.

    As we approach Australia’s next federal election, addressing misinformation about refugees and migrants is more crucial than ever to protect refugees and migrants from harm, strengthen our democratic processes, and foster a more inclusive society.

    Daniel Ghezelbash receives funding from the Australian Research Council, the NSW government and the Robert Bosch Foundation. He is a board member of Refugee Advice and Casework Services, Wallumatta Legal, and the Access to Justice and Technology Network. He is also a Special Counsel at the National Justice Project.

    Saul Wodak is affiliated with the Behavioural Insights Team.

    – ref. Misinformation on refugees and migrants is rife during elections. We found 6 ways it spreads – and how to stop it – https://theconversation.com/misinformation-on-refugees-and-migrants-is-rife-during-elections-we-found-6-ways-it-spreads-and-how-to-stop-it-251035

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Democracy’s bad eggs: corruption, pork-barrelling and abuses of power

    Source: The Conversation (Au and NZ) – By Yee-Fui Ng, Associate Professor, Faculty of Law, Monash University

    The question of how best to eliminate corruption has exercised the minds of philosophers as much as the practical drafters of legislation from Ancient Greek and Roman times.

    Within the political sphere, the notion of “corruption” has fluctuated between broad and narrow conceptions.

    The broad conception relates to the decay of institutions or of the stature of the individuals who comprise them. On the other hand, the narrow conception focuses on the abuse of public office for private gain.

    There is also “grey corruption” – which involves questionable behaviour involving a breach of integrity standards that does not necessarily amount to criminal conduct.

    This could include where a person has undue influence over a politician, such as by essentially buying that power through making large donations or hiring expensive lobbyists, particularly where it causes public officials to behave in corrupt ways.

    However the notion is defined, it is clear the fight against corruption is one of the basic tasks of a liberal democracy, perhaps even of an effectively functioning civil society.

    Corruption control is a pressing issue worldwide: the United Nations estimated the economic cost of corruption at 5% of global domestic product or $3.6 trillion annually.

    Australia has had a number of major corruption scandals throughout its history. Corruption was rife in the colonial era, where wealthy landholders sought to influence parliamentarians with monetary bribes.

    This has been followed by several major corruption scandals, such as the Fitzgerald inquiry, which revealed widespread police corruption involving illegal gambling and prostitution.

    What are anti-corruption commissions?

    Anti-corruption commissions are arguably the most significant tool developed in liberal democracies to fight corruption in recent times.

    The first anti-corruption commission in Australia, the Independent Commission Against Corruption (ICAC), was established in New South Wales in 1988 by then premier Nick Greiner.

    Infamously, a few years later, Greiner became the first premier to resign due to an ICAC investigation.

    Over the next few decades, all states and territories have set up their own anti-corruption or integrity commissions.

    In 2023, the Commonwealth followed suit with the introduction of the National Anti-Corruption Commission (NACC), a promise made by Anthony Albanese in the lead-up to the 2022 election after considerable pressure from the public and from within parliament.

    As a result, Australia now has a comprehensive network of broad-based public sector anti-corruption agencies covering all levels of government – a significant development nationally and internationally.

    Anti-corruption commissions are tasked with investigating serious and systemic corrupt conduct in government. This includes not just members of the House and Senate, but their staff and public servants.

    In performing their functions, these commissions have strong coercive powers, equivalent to the powers of a royal commission. This includes the power to compel documents and witnesses.

    Some anti-corruption commissions such as the NACC and NSW’s ICAC have the power to conduct public hearings if they believe it’s in the public interest. This increases transparency in government. But concerns have been expressed about reputational damage for those subject to investigations.

    Anti-corruption commissions also have corruption prevention functions. They are tasked with educating the public about the detrimental effects of corruption on public administration.

    Reports of anti-corruption commissions are often attended by significant media publicity, leading to public awareness of corruption in government.

    Why are anti-corruption commissions needed?

    It has become well accepted that effective anti-corruption institutions play an important role as institutions supporting constitutional democracy.

    The state anti-corruption bodies have brought to light many indiscretions by politicians that would have otherwise remained hidden.

    Without these commissions, corruption in the public sector can take root without us knowing about it. An anti-corruption agency is a powerful deterrent against improper behaviour.

    Yet anti-corruption commissions tend to be unpopular within governments because they scrutinise government action. This means the a commission may expose improper conduct or corruption within their ranks.

    It is common for governments hostile to anti-corruption commissions to attack them, including by reducing their powers or funding.

    This is despite their integral role in our democracy. Alongside other oversight bodies such as the ombudsman (who investigates maladministration within government) and auditor-general (who performs audits of government expenditure), anti-corruption commissions form part of an intricate, interlocking integrity framework that monitors executive action.

    Who watches the watchdogs?

    A big question is about how we ensure anti-corruption commissions do not overstep their bounds. Given their broad coercive powers, how do we hold them to account?

    From their inception, concerns have been expressed about the potential for anti-corruption bodies to infringe on civil liberties, and the possibility they may exceed or abuse their powers.

    In Australia, anti-corruption commissions are subject to a strong system of accountability through parliaments and the courts. They report to dedicated parliamentary committees who scrutinise their actions and decisions. Complaints against anti-corruption commissions can be made to a dedicated inspectorate – an independent statutory officer who oversees their actions.

    Anti-corruption commissions are also subject to judicial review by the courts to ensure they don’t exceed their legal boundaries. Court scrutiny occurs when a person investigated by an anti-corruption commission takes their grievance to court.

    To be effective, anti-corruption commissions require strong powers and institutional independence. But this needs to be balanced with accountability and the protection of individual rights.

    What is pork barrelling and what are some recent examples?

    Pork barrelling involves governments channelling public funds to seats they hold or seats they would like to win from an opponent, as a way of winning voters’ favour. This means the money is used for political purposes, rather than proper allocation according to merit.

    We have been inundated with pork barrelling scandals in recent years. This includes the car park rorts scandal, where 77% of the commuter car park sites selected were in electorates held by the then Coalition government, rather than in areas of real need with congestion issues.

    This followed close on the heels of the “sports rorts” scandal. Minister Bridget McKenzie resigned from cabinet following allegations she had intervened in the sport grants program to benefit the Coalition government while in a position of conflict of interest.

    My research has shown that pork barrelling is an intractable problem across multiple governments over many decades. It takes different forms based on electoral systems.

    Australia has a single member electorate parliamentary system, which makes it more susceptible to pork barrelling than multi-member electorates such as Norway or Spain. The belief is that politicians who “bring home the bacon” for their constituents are electorally rewarded for doing so.

    This means there are incentives for the central cabinet to strategically apportion benefits to marginal electorates to increase prospects of electoral success. There is also an incentive to bias the apportionment of funds towards the party in power.

    In short, rorts scandals keep happening because governments believe that channelling money to marginal and government electorates will win them elections.

    Potentially the NACC could investigate rorts scandals, but only where it amounts to serious or systemic corrupt conduct.

    How do we fix the grants system?

    At the federal level, we have sophisticated financial management legislation that provides a framework for grant rules. The Commonwealth grant rules provide a detailed set of guidelines that ministers and government officials must follow on grant application and selection processes.

    However, there are significant loopholes in the rules. For example, the “car park rorts” scandal is not covered by these rules because it involves money being channelled through the states.

    Also, there are no sanctions for breaching the rules. So ministers and government officials can break the rules without any repercussions.

    To fix the system, we need to reform the rules about grants allocation and close the loopholes. We also need to impose punishment for breaching the rules.

    It is imperative our grants administration system be reformed to ensure that taxpayer funds are protected from governmental abuse. If the ministerial discretion available in grants processes is improperly used, this can give rise to political favouritism and corruption.

    How corrupt is Australia compared to other countries?

    There is a public perception that a small elite is reaping large benefits in Australian society in terms of political influence and its flow-on dividends.

    In Australia, the “game of mates” is flourishing. There’s now a revolving door in politics with many politicians, advisers and senior government officials leaving the public sector to become well-paid lobbyists.

    Add to that the appointments of political “mates” to commissions, tribunals and cushy ambassadorships and the blatant misuse of parliamentary entitlements such as helicopter trips on taxpayer funds.

    Political parties are also accepting millions of dollars in donations from lobbyists and others interested in influencing policy outcomes.

    All of this adds to the perception that the system is rigged – and not in favour of the person on the street.

    Australia has fallen steadily in Transparency International’s global corruption index, from 8th place in 2012 to 14th in 2024. But even so, Australia is the 14th-least corrupt country in the world, which is still a respectable ranking.

    More alarming is the fact that one in 30 Australian public servants said in a survey last year they had seen a colleague acting in a corrupt manner.

    The types of corruption witnessed included cronyism or nepotism (favourable treatment of friends or family members without proper regard to merit). Fraud, forgery, embezzlement and conflicts of interest were also reported.

    In the 1980s, there were incidences of large-scale corruption that rocked the country, culminating in the Fitzgerald Inquiry in Queensland and the WA Inc Royal Commission in Western Australia. These scandals led to the resignations and imprisonments of various former ministers and officials.

    Although we have not sunk to such depths since then, state anti-corruption commissions, such as the NSW ICAC, have uncovered various instances of corruption in recent years. The NSW ICAC’s inquiries have led to the resignations of several politicians, as well as the conviction of former Labor MP Eric Obeid.

    Another classic case of corruption exposed by the ICAC led to the downfall of former Newcastle lord mayor, Jeff McCloy. McCloy famously bragged that politicians treated him like a “walking ATM” and admitted to giving two MPs envelopes of cash amounting to $10,000.

    In Victoria, the Independent Broad-Based Anti-Corruption Commission’s (IBAC) revealed that a lobbyist funnelled suitcases of cash totalling more than $100,000 from a property developer to a councillor, under the guise of sham transactions.

    These explosive scandals involving corrupt conduct by public officials have eroded public trust in politicians. But the exposure of these scandals by anti-corruption commissions have an important deterrent and educative effect on public officials and the broader public.

    Our faith in government has been eroded by a lack of transparency and the perception that those in power are enjoying unfair benefits. The active investigations by robust institutions such as anti-corruption commissions will act as checks and balances on governmental power – and are key to a vibrant democracy.

    This is an edited extract from How Australian Democracy Works, a new book from leading authors at The Conversation on all aspects of our political system and its history, out March 4.

    Yee-Fui Ng 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. Democracy’s bad eggs: corruption, pork-barrelling and abuses of power – https://theconversation.com/democracys-bad-eggs-corruption-pork-barrelling-and-abuses-of-power-229888

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ‘Ghosts of the radio universe’: astronomers have discovered a slew of faint circular objects

    Source: The Conversation (Au and NZ) – By Miroslav Filipovic, Professor, Western Sydney University

    Some of the objects captured by ASKAP. Author provided

    Radio astronomers see what the naked eye can’t. As we study the sky with telescopes that record radio signals rather than light, we end up seeing a lot of circles.

    The newest generation of radio telescopes – including the Australian Square Kilometre Array Pathfinder (ASKAP) and MeerKAT, a telescope in South Africa – is revealing incredibly faint cosmic objects, never before seen.

    In astronomy, surface brightness is a measure that tells us how easily visible an object is. The extraordinary sensitivity of MeerKAT and ASKAP is now revealing a new “low surface brightness universe” to radio astronomers. It’s comprised of radio sources so faint they have never been seen before, each with their own unique physical properties.

    Many of the ASKAP results presented here were obtained with one of its major observing programs called EMU (Evolutionary Map of the Universe). EMU is mapping the entire southern sky with an unprecedented sensitivity and will deliver the most detailed map of the southern hemisphere sky to date – a spectacular new radio atlas that will be used for decades to come.

    EMU’s all-hemisphere coverage paired with ASKAP’s exceptional sensitivity, especially within the Milky Way, is what’s yielded so many recent discoveries.

    Here’s what they’re teaching us.

    Unstable stars

    Kyklos (left) and WR16 (r).
    Author provided

    The ghostly ring Kýklos (from the Greek κύκλος, circle or ring) and the object WR16 both show the environment of rare and unusual celestial objects known as Wolf-Rayet stars.

    When big stars are close to running out of fuel, they become unstable as they enter one of the last stages of the stellar life cycle, becoming a Wolf-Rayet star. They begin surging and pulsing, shedding their outer layers which can form bright nebulous structures around the star.

    In these objects, a previous outflow of material has cleared the space around the star, allowing the current outburst to expand symmetrically in all directions. This sphere of stellar detritus shows itself as a circle.

    Exploded stars

    Left to right clocwise: the supernova remnants Stingray 1, Perun, Ancora and Unicycle.
    Author provided

    Stingray 1, Perun, Ancora and Unicycle are supernova remnants. When a big star finally runs out of fuel, it can no longer hold back the crush of gravity. The matter falling inwards causes one final explosion, and the remains of these violent star deaths are known as supernovas.

    Their expanding shockwaves sweep up material into an expanding sphere, forming beautiful circular features.

    The supernova remnant will be deformed by its environment over time. If one side of the explosion slams into an interstellar cloud, we’ll see a squashed shape. So, a near-perfect circle in a messy universe is a special find.

    Teleios – named from the Greek Τελεɩοσ (“perfect”) for its near-perfectly circular shape – is shown below. This unique object has never been seen in any wavelength, including visible light, demonstrating ASKAP’s incredible ability to discover new objects.

    The shape indicates Teleios has remained relatively untouched by its environment. This presents us with an opportunity to make inferences about the initial supernova explosion, providing rare insight into one of the most energetic events in the universe.

    ASKAP EMU radio image of the Teleios supernova remnant.
    Author provided

    At the other extreme, we can take an object and discover something entirely new about it. The Diprotodon supernova remnant is shown below.

    This remnant is one of the largest objects in the sky, appearing approximately six times larger than the Moon. Hence the name: the animal Diprotodon, one of Australia’s most famous megafauna, a giant wombat that lived about 25,000 years ago.

    ASKAP’s sensitivity has uncovered the object’s full extent. This discovery led to further analysis, uncovering more of the history and the physics behind this object. The messy internal structure can be seen as different parts of the expanding shell slam into a busy interstellar environment.

    ASKAP radio image of Diprotodon, a supernova remnant. Green circle shows the previous measured size, and the yellow circle shows the new ASKAP measured size. Earth’s Moon size is shown in the top right for scale, and Diprotodon’s namesake is shown in the top left.
    Author provided

    A cosmic mirror

    Lagotis is another object that can show how new telescope data can reclassify previously discovered objects. The reflection nebula VdB-80 has been seen before, within the plane of our Milky Way galaxy. The light we see was emitted by nearby stars, and then reflected off a nearby cloud of gas and dust.

    Lagotis, with its cloud of ionised hydrogen or HII region seen on the right.
    Author provided

    However, with newly available ASKAP EMU data, we were able to discover an associated cloud of ionised hydrogen (known as an HII region, pronounced “aitch two”), where stellar energy has caused the gaseous matter to lose its electrons.

    This HII region is seen to coexist with the reflection nebula, sharing the same stellar centre, and is created from the star pushing into a molecular cloud. This movement is akin to burrowing, so the object earned the name Lagotis after Macrotis lagotis, the Australian greater bilby.

    Outside the galaxy

    ASKAP and MeerKAT are also illuminating objects from outside our Milky Way galaxy – for example, “radio ring” galaxies. When we use visible light to look at the stars in this galaxy, we see a rather plain disk.

    But in radio light, we see a ring. Why is there a hole in the middle? Perhaps the combined force of many exploding supernovas has pushed all the radio-emitting clouds out of the centre. We’re not sure – we’re looking for more examples to test our ideas.

    Finally, LMC-ORC is an Odd Radio Circle (ORC), a prominent new class of objects with unfamiliar origins. Only being visible in radio light, they are perhaps the most mysterious of all.

    A radio ring galaxy (left) and LMC-ORC (r).
    Author provided

    The next generation

    MeerKAT and ASKAP are revealing incredible insights into the low surface brightness universe. However, they are precursors for the Square Kilometre Array, an international collaborative endeavour that will increase the abilities of radio astronomers and reveal even more unique features of the universe.

    The low-surface brightness universe presents many mysteries. These discoveries push our understanding further. Currently, the EMU survey using ASKAP is only 25% complete.

    As more of this survey becomes available, we will discover many more unique and exciting objects, both new to astrophysics and extensions on previously known objects.

    Acknowledgements: Aaron Bradley and Zachary Smeaton, Masters Research Students at Western Sydney University, made valuable contributions to this article.

    Nicholas Tothill receives funding from the Australian Research Council.

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

    – ref. ‘Ghosts of the radio universe’: astronomers have discovered a slew of faint circular objects – https://theconversation.com/ghosts-of-the-radio-universe-astronomers-have-discovered-a-slew-of-faint-circular-objects-249141

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Digital Luddites are rising. They want to democratise tech, not destroy it

    Source: The Conversation (Au and NZ) – By Raffaele F Ciriello, Senior Lecturer in Business Information Systems, University of Sydney

    Have you ever been called a Luddite? We have – usually as an insult, rooted in a popular misconception that Luddites are anti-progress fanatics.

    Nothing could be further from the truth. The original 19th century Luddites weren’t against technology. Rather, they resisted its oppressive use.

    Their rebellion was violently suppressed. But their core critique lives on: technology should benefit all of humanity, not a privileged few.

    Today, as Silicon Valley billionaires and United States president Donald Trump turbocharge corporate control of public digital infrastructure, this critique rings truer than ever.

    In response, we are a seeing a growing surge of attempts to wrest back control of technology for democratic ends. This is a kind of “digital Luddism” which echoes past struggles against high-tech injustice.

    The original Luddites

    The Luddites were 19th century English textile workers who destroyed machinery threatening their craft and livelihoods. Historians call their tactics “collective bargaining by riot”. They were fighting against technologies that centralised power and stripped workers of dignity.

    Luddite resistance was part of broader struggles for labour rights and socioeconomic justice.

    For example, in 18th century France, silk weavers similarly revolted against mechanisation that devalued their craft.

    Earlier, England’s Diggers and Levellers resisted the privatisation of communal lands. This foreshadowed today’s battles over corporate control of digital infrastructure.

    The Luddites faced severe punishment, including imprisonment and even execution. Despite this, their legacy endures. Today, dismissing critics of Big Tech as “Luddites” repeats the mistake of conflating resistance to exploitation with fear of progress.

    The Luddite resistance in the 19th century was part of broader struggles for labour rights and socioeconomic justice.
    Working Class Movement Library catalogue

    In the most extreme scenario, unchecked corporate power allied with monstrous government polices can lead to atrocities. In Nazi Germany, for example, Dehomag, a former subsidiary of computer giant IBM, provided data systems to the Nazis to track victims. Chemical company IG Farben also supplied Zyklon B gas for extermination camps. Many other companies profited from forced labour and funded the regime. This shows how complicity can make oppression more efficient.

    Today, digital technologies are deepening inequality, eroding democracy, undermining privacy, and concentrating power.

    Digital technologies are also fuelling surveillance capitalism, the displacement of human workers by AI algorithms and the growth of monopolistic platforms.

    Platforms and AI systems governed by “broligarchs” such as Elon Musk and Mark Zuckerberg are also shaping politics, culture, and beliefs globally.

    Digital Luddism, also known as neo-Luddism, tackles these issues through three strategies: resistance, removal and replacement.

    Resistance: blocking harmful systems

    Technology is not inevitable — it’s a choice. Sustained collective action can counter corporate dominance and align tech with democratic values.

    In 2018, more than 3,000 Google workers protested the company’s military AI contract, forcing it to adopt ethical guidelines. However, in February this year, Google expanded defence deals, showing how resistance must be sustained.

    Three years later, Facebook whistleblower Frances Haugen exposed the harmful algorithms at the heart of the social media platform.

    Then, in 2024, Amazon and Google staff also staged walkouts over a US$1.2 billion AI contract linked to Israeli military operations.

    Creative industries are also fighting back. For example, in 2023 screenwriters and actors in Hollywood protested against AI replacing their roles. Similarly, Australia’s “right to disconnect” law reflects Luddite principles of reclaiming autonomy.

    Non-profit organisations such as the Algorithmic Justice League and the Electronic Frontier Foundation empower digital rights advocates to take back control over digital spaces by exposing AI bias and through legal litigation.

    Digital Luddism doesn’t reject innovation. It demands technology serve stakeholders, not shareholders.

    Removal: dismantling entrenched power

    Some systems are beyond reform, requiring direct intervention. Removal involves political action and legal regulation. It also involves public pressure to break monopolies or impose penalties on unethical corporations.

    For example, the TraffickingHub petition has garnered more than two million signatories to hold adult website PornHub accountable for unethical or unlawful content. This has led financial institutions, such as Visa and Mastercard, to cut ties to the website. For more than 20 years, hacker collective Anonymous has carried out cyber-attacks on authoritarian regimes, extremists and corporations.

    Digital Luddites can also lend a hand to the long arm of the law.

    The European Union’s 2023 Digital Markets Act broke Apple’s app store monopoly. This sparked a surge in small EU developers.

    Big Tech has also repeatedly faced huge fines and antitrust lawsuits. However, breaking up or nationalising these corporations remains rhetoric for now.

    Replacement: building ethical alternatives

    Proprietary corporate systems have long been challenged by free, open-source alternatives.

    But digital Luddism isn’t just about using different tools. It’s about systemic change towards sustainable, transparent and user-controlled infrastructure.

    After Elon Musk’s Twitter takeover, decentralised alternatives that let users control content flourished. For example, Bluesky grew from 1 million to more than 27 million users in one year.

    The Australian government is also responding to a broader public demand for platform independence. For example, it has introduced policies aimed at enhancing people’s data rights. Its Digital Transformation Agency is also advocating for improved open data standards.

    Open-source AI projects such as China’s DeepSeek and HuggingFace’s Deep Research now rival corporate models, proving open tech is a force to reckon with.

    The original Luddites smashed machines. But the global nature of today’s digital infrastructure makes physical sabotage impractical. That’s why digital Luddism isn’t about smashing screens. Instead, it’s about smashing oppressive systems.

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

    – ref. Digital Luddites are rising. They want to democratise tech, not destroy it – https://theconversation.com/digital-luddites-are-rising-they-want-to-democratise-tech-not-destroy-it-251155

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: A website is not enough: businesses that use digital tools without a strategic plan will struggle in a tough economy

    Source: The Conversation (Au and NZ) – By Rod McNaughton, Professor of Entrepreneurship, University of Auckland, Waipapa Taumata Rau

    Mr.paripat niyantang/Shutterstock

    Small businesses across Australia and New Zealand are facing one of their toughest periods in decades.

    A flat economy and shifting consumer behaviour have put pressure on already thin operating margins. A 2024 survey by business finance company ScotPac found 29% of Australian small businesses say they could face insolvency if they lose a major client.

    Accounting organisation CPA Australia’s latest small business survey shows only 48% of New Zealand’s small businesses grew in 2023. This is significantly down from 60% in 2022. There have also been a record number of business liquidations in both New Zealand and Australia.

    Yet some small and medium-sized businesses are thriving. Part of the reason for this is because they have embraced the concept of “digital leadership”.

    This is the ability to strategically integrate digital technologies – such as artificial intelligence, cloud computing, data analytics and automation – into a business’s operations, decision-making and long-term vision.

    Digital leaders use emerging technologies to improve efficiency, redesign business models, scale operations and reach new customers in ways that wouldn’t be possible otherwise.

    Our review of the research on digital leadership, recently published in Digital Leadership and Contemporary Entrepreneurship, found that firms treating digital leadership as a core business strategy, rather than just using technology for isolated tasks, are the ones that successfully scale, grow and future-proof their organisations.

    Without this change in mindset, firms risk stagnation and missed opportunities. That difference is critical in an economic environment where small margins separate thriving businesses from struggling ones.

    Why some small businesses fall behind

    It’s easy to assume small businesses lag in digital adoption because of costs or technical complexity. However, most of the studies we reviewed suggest the real issue is hesitancy at the leadership level.

    Some business owners are risk-averse and take a “wait and see” approach. Others believe their current solutions are sufficient even when new technology could improve efficiency.

    A 2021 survey commissioned by cloud accounting software company Xero, found fear of change, overconfidence in existing processes and decision paralysis are among the biggest barriers preventing small businesses from embracing digital solutions.

    Even businesses that already use digital tools – for example, to manage their social media – often fail to go further and integrate technology into core operations such as supply chain management and automation.

    Embracing digital leadership

    The lesson is that simply adopting digital tools without a strategic plan doesn’t lead to growth. True digital leadership requires businesses to rethink how they operate, compete and scale.

    The firms making the most of digital transformation embed technology in their core strategy. They use data-driven decision-making to refine products, forecast demand and identify new opportunities.

    They streamline operations by automating routine tasks, such as using AI-powered invoicing, chatbots for customer inquiries and predictive analytics for inventory management. This frees up time for strategic initiatives such as product development and market expansion.

    At the same time, they invest in training employees to effectively use and adapt to new technologies. Perhaps most importantly, they take an experimental approach – testing, learning and adapting in real time.

    Learning to thrive in digital economy

    Businesses that have successfully grown through digital leadership illustrate this approach in action.

    Set up in 2016, New Zealand-based investing company Sharesies fundamentally changed how everyday people access financial markets.

    Traditional investment firms required large deposits and complex paperwork, excluding many potential investors. Sharesies took a different approach. The company designed a mobile-first platform where users could start with as little as $5. The company now has more than 650,000 users and NZ$3 billion in investments.

    In Australia, The Very Good Bra, a sustainable bra company, used digital leadership to create a global, sustainable fashion brand without traditional retail infrastructure.

    Founder Stephanie Devine developed a direct-to-consumer model through e-commerce, bypassing wholesalers and physical stores. She utilised digital tools such as social media platforms for community engagement, online surveys to collaborate with customers to design products, and data analytics software for demand forecasting, ensuring every product had a market before it was manufactured.

    Both companies succeeded by leveraging digital technologies to disrupt traditional business models. Sharesies democratised investing by making it accessible to individuals with minimal capital, while The Very Good Bra utilised e-commerce and customer collaboration to create sustainable fashion products.

    Their digital-first approaches enabled them to identify and fill market gaps effectively.

    To thrive in the tougher economic climate, businesses need to think beyond software tools. The question is no longer whether to go digital, but how fast a business can rethink their work for the digital future.

    Guy Bate is affiliated with The Education Technology Association of New Zealand (EdTechNZ). He serves as Chair of their AI in Education Technology Stewardship Group.

    Rod McNaughton 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. A website is not enough: businesses that use digital tools without a strategic plan will struggle in a tough economy – https://theconversation.com/a-website-is-not-enough-businesses-that-use-digital-tools-without-a-strategic-plan-will-struggle-in-a-tough-economy-250633

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Russia: HSE Design School Opens Exhibition in Kazan

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Participants: Aigul Aktaeva, Sofya Alekseeva, Yuri Albert, Ksenia Annenko, Art Group “Frozen Konina” (Nastya Moroz, Katerina Konyukhova), Mariam Aslamazyan, Ksenia Badanova, Marina Batylina, Pavel Benkov, Daria Bochevererova, Fedor Botkin, Annushka Broec, Midate Valiev, Margarita Varakina, Andrey Vashurov, Vasily Vereshchagin, Elena Vlasova, Alexander Vinogradov, Volodimer, Eyes of Bolshak, Kirill Garshin, Geodesist, Ivan Gorshkov, George Guryanov, Gaziz Gubaidullin, Elizaveta Glushkova, Boris Davydov, Dilyar Davletshina, Victoria, Vladimir Dubosarsky, Anna Acorn, Housing and Public Utilities, Konstantin Latyshev, Evgenia Kanak, Marta Kamina, Elizaveta Kolosova, Julia Korbut, Konstantin Korovin, Boris Korolev, Heliy Korzhev, Irina Korzheva-Senseleva, Valery Koshlyakov, Kirill Kiselva, Arkhip Kuinji, Alexander Kutsan, Dmitry Krasnopevtsev, Natalya Krandievskaya, Nikolai Krymov, Dmitry Krasnopevtsev, Daria Lisunova, Vladislav Mamyshev, Maria Macedonova, Dasha Maltseva, Ilya Mashkov, Nastya Moroz, Natalya Nesterova, Timur Novikov, Alexander Novgorodova, Georgy Nyssa, Natasha Osipova, Maria Panina, Pavel, Pavel Peppershtein, Vasily Polenov, Igor Ponosov, Anastasia Pinaeva, Pavel Radimov, Ramil Zrovanov, Angelina Rubtsova, Fedor Rokotov, Masha Rogova, Aidan Salakhova, Zuhra Suhra, Anna Stavinozhenko, Evgenia Starikova, Valentin Serov, Polina Trenogina, Alfiya Ilyasova, Mahmut Usmanov, Makhmut Usmanov, Makhmut Usmanov, Makhmut Usmanov, Makhmut Usmanov, Mahmut Usmanov, Ismagil Khalillov, Nika Flower, Tanya Chaika, Konstantin Chebotarev, NOT Shuainin, Inna Shevchenko, Rustam Sheriffzyanov, Anna Shcherbina, Graffiti Writer, Aes+F.

    Exhibition curator: Pierre-Christian BrochetProject manager from the State Budgetary Institution Museum-Reserve “Kazan Kremlin”: Ksenia YarovinskayaProducer: Maryana DaynorovichGraphic design: HSE DESIGN LAB

    The exhibition “Heirs: from the classics of the 19th to the classics of the 21st” will run from February 22 to May 25.

    Address: Kazan, Vakhitovsky district, Kremlin territory, 5.

    Entrance to the exhibitionby tickets.

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Appointments to the Board of the International Fund for Ireland

    Source: United Kingdom – Government Statements

    News story

    Appointments to the Board of the International Fund for Ireland

    The Irish and UK Governments have today announced new appointments to the Board of the International Fund for Ireland.

    Earlier today, the Irish and United Kingdom Governments announced new appointments to the Board of the International Fund for Ireland.

    The appointments are:

    • Ms Shona McCarthy, Chair
    • Ms Janet McConkey,
    • Ms Katy Hayward,
    • Ms Anne Conaghan
    • Ms Anne Carr,
    • Ms Angila Chada,
    • Mr Bill Pauley,

    In announcing these appointments, the two governments expressed their very warm appreciation for the services given by the outgoing Board Members whose term of office had ended. Particular thanks are due to Mr Paddy Harte who has shown exceptional leadership of the Board through his service as Chairman during the past six years.

    Notes to Editors

    The International Fund for Ireland is an international organisation established by the Irish and British Governments in 1986 with the objectives of promoting economic and social advance and of encouraging contact, dialogue and reconciliation between Unionists and Nationalists throughout Ireland. Contributors to the Fund have included the United States of America, the European Union, Australia, Canada, New Zealand, and the Irish and UK Governments. Ms Anne Carr and Ms Anne Conaghan, who were Members of the previous Board, have been re- appointed for a further term.

    Updates to this page

    Published 3 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Parker Blackwood Advisers Reports Australian Economy Showing Signs of Recovery

    Source: GlobeNewswire (MIL-OSI)

    PERTH, Australia, March 03, 2025 (GLOBE NEWSWIRE) — Parker Blackwood Advisers, a leading financial services provider has commented on the latest Australian economic trajectory that will be under the spotlight this week as fresh data is set to provide a critical assessment of the nation’s growth prospects. The December quarter national accounts, due for release by the Australian Bureau of Statistics (ABS) on Wednesday, are expected to confirm a modest acceleration in economic activity following a period of subdued expansion.

    Consensus forecasts indicate that the economy likely expanded by 0.5% in the December quarter, up from 0.3% in the prior three-month period. If realized, this would translate to an annual GDP growth rate of 1.2% for 2024—a marked improvement from the 0.8% recorded in the September quarter but still well below the long-term historical average of over 3%.

    “Productivity constraints and subdued private sector investment continue to weigh on economic momentum,” said Nathan Jones, Chief Investment Officer at Parker Blackwood Advisers. “While fiscal policy and household spending provide some stability, sustained growth requires stronger business investment and improvements in labour productivity—key factors the RBA will be closely monitoring in its policy deliberations.”

    Investors will also scrutinize the Reserve Bank of Australia’s (RBA) February meeting minutes, scheduled for release on Tuesday. The central bank’s decision to cut interest rates for the first time in over four years signaled a shift in monetary policy, and market participants will be seeking further clarity on the likelihood of additional easing measures in the coming months.

    Beyond GDP and monetary policy, Parker Blackwood Advisers note that key data releases will shed light on Australia’s property market and government finances. CoreLogic’s monthly Home Value Index, due on Monday, will reveal whether the recent housing downturn persisted into February, while building approvals data on Thursday will gauge progress toward the federal government’s ambitious 1.2 million-home construction target over five years.

    Additionally, retail trade figures on Tuesday, international trade data on Thursday, and household spending indicators on Friday will offer a broader view of consumer activity and economic strength. The government’s fiscal position will also be under scrutiny, with the market anticipating a current account deficit of $13.4 billion when balance of payments data is released.

    With a pivotal week ahead for economic data and central bank insights, investors and policymakers alike will be closely watching for signals on Australia’s growth trajectory and policy outlook in 2024.

    About Parker Blackwood Advisers
    Founded in 2013, Parker Blackwood Advisers is a premier financial services provider based in Perth, Australia. With a focus on personalised investment strategies, the firm offers a broad range of wealth management solutions, including asset allocation, investment management, and financial planning. Managing over $4.7 billion in assets, Parker Blackwood Advisers is dedicated to helping clients achieve their financial goals through tailored, expert guidance.

    Disclaimer
    Parker Blackwood Advisers is a trading name of PBA Corporation Pty Ltd (ABN: 98 162 183 244), holder of AFSL 434-071. Investing carries risks, including potential loss of capital. Information provided is general and not financial advice. Past performance is not a guarantee of future results.

    Mr. Paul Allen
    Head of Marketing
    paul.allen@pb-investment.com
    08 6275 0960
    Exchange Tower,
    Level 17/2 The Esplanade
    Perth WA, 6000

    Source: Parker Blackwood Advisers

    The MIL Network –

  • MIL-OSI United Kingdom: European Day for Victims of Terrorism event – speakers announced

    Source: Traditional Unionist Voice – Northern Ireland

    Every year since the Madrid bombings in 2004 across Europe one day in March has been set aside as a Memorial Day to the victims of terrorist attacks. Following his election to the Assembly Jim Allister hosted events at Stormont to mark the occasion. His successor as TUV MLA for North Antrim, Timothy Gaston, is continuing the tradition.

    Over the years, there have been highly successful events attended by victims of Republican and Loyalist terrorism from across Northern Ireland, Great Britain, the Republic and continental Europe.

    This year’s event to mark European Day for Victims of Terrorism will be held in the Senate Chamber in Parliament Buildings at 11am on Monday 10th March with refreshments available from 10:30am.

    The press are very welcome to attend.

    Timothy Gaston explained:

    “The event will take the form of a minute of silence in memory of murdered victims, followed by three victims telling their stories so that we might hear some of the untold accounts of the consequences of terrorism, both republican and loyalist.

    “I believe this will be a worthwhile effort and in previous years I received very positive feedback from those who attended. It is but right that one of the regions of Europe most savagely ravaged by terrorism should mark this important day. I am pleased that we will hear from a cousin of Dougald McCaughey, one of the three Scottish soldiers murdered in particularly brutal circumstances in on 10th March 1971 meaning the event will take place on the anniversary of these brutal murders.

    “I am thankful for the South East Fermanagh Foundation and Ulster Human Rights Watch for making this event possible and for Assembly colleagues Mike Nesbitt and Patsy McGlone without whose co-sponsorship this event would not be taking place”.

    This year’s event will include contributions from four speakers. Their details are provided by SEFF and UHRW.

    1. Caroline D’Eath
    Daughter of Gerald D’Eath
    22nd May 1975

    Gerald was a 31-year-old Roman Catholic civilian murdered by a UVF bomb. He was married with four children and a machine operator who was from, Braeside in Dungannon.

    Gerald had been working on the building site of a new Christian Brothers school for several months and died on the site when a UVF bomb exploded. He was working as a bricklayer at the time.

    Pics provided by the family:

    Gerald D’Eath with his daughters before his death.

    Second picture is with his loving late wife Margaret.

    2. David McCaughey

    Cousin of Dougald McCaughey who was murdered by Provisional IRA terrorists alongside John and Joseph McCaig

    Three Scottish soldiers – 10th March 1971

    The soldiers were unarmed members of the 1st Battalion, Royal Highland Fusiliers.
    Dougald McCaughey, 23, was murdered along with brothers John, 17 and Joseph McCaig, 18 respectively. All three men were from Scotland.

    They were murdered when off-duty and in civilian clothes, having been lured from a city-centre bar in Belfast, driven to a remote location, and shot.

    Family, former colleagues, and friends of the three Scottish soldiers continue to fight for justice for three young men, who were much loved by many, David is a key driver in The Three Scottish Soldiers campaign group.

    3. Pamela Wilson
    Daughter of Const. David Dorsett RUC GC
    14th January 1973

    David Dorsett and Mervyn Wilson who were murdered by Provisional IRA terrorists.

    David was 37-years-old and originally from Wolverhampton and had served in the Royal Navy and the Bristol Constabulary.

    In 1967, he joined the RUC. His wife was from Londonderry. It was his son’s 8th birthday on the day he was murdered. He also had a 10-year-old daughter and an 8-month old baby girl.

    A bomb exploded beneath their car on Harbour Square.

    Both officers were serving with the force’s Traffic Branch and had been stationed at the nearby Victoria RUC station.

    Two other police officers who were in the car were also injured.

    4. Colette Murray

    Colette Murray was aged 47 years when her brother Cyril was shot dead by Loyalist terrorists on the 8th of July 1992 in the family home where they both had lived for 29 years. Their late parents and two other siblings had lived there with the latter both moving out on getting married. Cyril and Colette had put the house up for sale and were in the process of moving to a new bungalow in Randalstown which they were having built and which was ready for occupation ten days after the incident.

    Cyril Murray was a law-abiding citizen who had taught in a primary school in Belfast. He was well regarded in educational circles as an inspirational teacher and many past pupils had fond memories of him.

    The terrorists later stated it was a case of mistaken identity.

    Two individuals were later convicted and sentenced. As a result of the 1998 Belfast Agreement these individuals would only have served a minimum of 4 years and a maximum of 8 years for their heinous crimes.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New community shop opens for Wolverhampton residents

    Source: City of Wolverhampton

    Residents in Bushbury and surrounding areas will have the new community shop on their doorstep after it’s relocation from Low Hill Community centre. Anyone in the city will be able to reduce the cost of their weekly shop by popping in for a wide range of food from fresh fruit and vegetables to store cupboard items and fresh bread.

    It’s the latest community shop to join the city wide network, which also includes the flagship shop and Pomegranate Café at the Queen’s Building in Victoria Square in the city centre.

    Shoppers can save a lot of money every week on groceries by using the community shops instead of major supermarkets.

    The council helped create the shops with an initial investment from the government’s Household Support Fund and provides on-going support, but they are run day to day by staff and volunteers at community centres and hubs.

    Leader of the City of Wolverhampton Council, Councillor Stephen Simkins said he was glad the council had been able to work with the community to create this new shop.

    ‘These shops are for everyone who lives in Wolverhampton and have already helped many residents across the city save so much money on their weekly food bills over the last few years.

    ‘The council is committed to the future of community shops, as they really do offer a way for people to do the best for their families in these difficult times. They also help our local economy, which helps everyone in the city in the long-term.

    ‘This is just one of the many ways as a council we’re trying to help our citizens deal with the on-going challenges of the high cost of living. Food remains the number one item in regards to cost of living, with which residents need our help.’

    Kim Payne, WV10 Consortium Partnership manager said: ‘Opening a community shop here at Fifth Avenue will be a fantastic source of support for local people that will complement other services provided here at the community centre by Bushbury Hill Estate Management board and WV10 Consortium.

    ‘Please drop by and see what’s on offer, we’ll have plenty of fresh produce and seasonal deals as well as every day essentials for healthy and tasty meals.’

    For more information visit WV10 Consortium and for more details about other community shops across the city and other cost of living support available from the council check out our web pages.

    Pocket to Plate is another key project the council developed to help residents provide nutritious and tasty food for themselves and their families on a budget.

    Community chefs Prince and Simon, who both work out of Fifth Avenue, also join forces with self-taught cook and tiktok star Mitch Lane every Thursday to release new recipes and how to cook them as part of Pocket to Plate.

    Follow @pocketoplate now on Instagram, tiktok and youtube to view the latest and keep an eye out for them using produce from the shop to inspire your next home-cooked meal.      

    MIL OSI United Kingdom –

  • MIL-OSI: Varonis at the 2025 Gartner® Security & Risk Management Summit: AI Innovation and Data Security

    Source: GlobeNewswire (MIL-OSI)

    MUMBAI, India, March 03, 2025 (GLOBE NEWSWIRE) — Gartner Security & Risk Management Summit — Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, today announced its full schedule at the Gartner Security & Risk Management Summit, March 10 – 11 in Mumbai, India.

    Varonis Activities at the Gartner Security & Risk Management Summit:

    Meet Varonis: Visit Varonis at booth #210 to discover our latest cloud security offerings, see our unified approach to data security, and catch 1:1 demos with our team. Learn how Varonis helps organizations adopt gen AI copilots safely and confidently by putting data first.

    Expert Session: “AI Innovation and Security: Insights from a CISO and CFO” — In this panel discussion, Concentrix Global Vice President, Global Security Rishi Rajpal and Varonis CFO and COO Guy Melamed explore the importance of implementing proactive data security for AI and discuss practical strategies for effective risk management to prevent security breaches, legal penalties, and loss of customer trust. 

    Date: Monday, March 10 at 4:35 p.m.

    Location: TH5, Exhibit Showcase Theater, Showroom, Ground Level

    Additional Resources

    GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

    About the Gartner Security & Risk Management Summit
    Gartner analysts will present the latest research and advice for security and risk management leaders at the Gartner Security & Risk Management Summits, taking place March 3-4, 2025 in Sydney, March 10- 11, 2025 in India, April 7-8 in Dubai, June 9-11 in National Harbor, MD, July 23-25 in Tokyo, August 5-6 in Sao Paulo and September 22-24 in London. Follow news and updates from the conferences on X using #GartnerSEC.

    About Varonis
    Varonis (Nasdaq: VRNS) is a leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.

    Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), and insider risk management.

    Varonis protects data first, not last. Learn more at www.varonis.com.

    Investor Relations Contact:
    Tim Perz
    Varonis Systems, Inc.
    646-640-2112
    investors@varonis.com 

    News Media Contact:
    Rachel Hunt
    Varonis Systems, Inc.
    877-292-8767 (ext. 1598)
    pr@varonis.com

    Public Relations Contact
    Sonika Choubey
    Manager, Public Relations
    + 91 8691974117
    sonika.choubey@gartner.com

    Exhibitor Contact(s)
    Gunjan Kotwal
    Conference Manager, Exhibit Operations
    gunjan.kotwal@gartner.com

    The MIL Network –

  • MIL-OSI Russia: “Focusing on Technology”: Academic Council Discusses How to Develop Science at HSE

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Meeting Academic Council of the National Research University Higher School of Economics February 26 was dedicated to science. The participants of the meeting discussed the results of the university’s scientific activities, the work of the postgraduate school and dissertation councils through the prism of the priorities of the country’s scientific and technological policy. In addition, a competition was held to fill the positions of professors and teachers.

    HSE Rector Nikita Anisimov gave a report on the scientific activities of HSE. He emphasized that HSE has established itself as a research university and that the further development of science should be inextricably linked with the tasks facing the country. They have been defined in key documents of the last two years, including decrees of the President of Russia on national goals, priority areas of scientific and technological development and the most important science-intensive technologies and other strategic development documents.

    In his report, Nikita Anisimov noted that changes that facilitate the integration of HSE into solving technological leadership problems are already underway at the university – in particular, new institutes and laboratories have been opened, partnerships with industry have been expanded, etc.

    It is important that HSE has managed to maintain the high quality of fundamental research. This is confirmed by the university’s position among Russian universities in terms of the number of scientific articles of the 1st level of the national “White List” indexed in databases: HSE ranks 2nd. The rector emphasized that this is the result of the motivation system created at the university – academic bonuses. Thus, in 2020, 1,050 employees received academic bonuses, in 2024 – 1,139.

    The rector noted that the volume of R&D at the university in 2024 amounted to more than 8.5 billion rubles, since 2020 it has grown by more than 3 billion rubles. HSE is among the top 3 universities in terms of R&D in Russia. The main topics of research and development at HSE are economic and social-humanitarian areas. To increase the contribution of the university team to solving the problems of technological leadership, the share of STEM topics in the HSE fundamental research program has been increased to 45% in 2026.

    While maintaining HSE’s integration into global science, the next step in the development of scientific activity is to concentrate efforts on technologies that are in demand by the state, society and business. It is necessary to move from individual research to large projects, from isolated fundamental research to full-cycle interdisciplinary projects, from integration into the global agenda to participation in its formation. “It is important for us that the scientific schools and teams of the university intensify their interaction with their industrial partners as much as possible,” the rector added.

    Head of the Academic Council Commission for the Organization of Scientific Research, Dean Faculty of Economic Sciences Sergey Pekarsky supported the theses proposed by the rector. In his opinion, everything that the university has achieved in recent years is important not only to preserve, but also to critically rethink and reconfigure in order to respond to modern challenges.

    About the activity postgraduate studies at the National Research University Higher School of Economics said Vice-Rector Sergey Roshchin. Currently, the university has 1,317 postgraduate students, including 142 foreigners, 59 programs in 72 scientific specialties, 23 postgraduate schools. The unified track “Master’s degree – postgraduate study” is being successfully implemented. The effectiveness of postgraduate study (the share of those who defended their theses on time from the number of those accepted in the corresponding year) varies across faculties and subject schools, and it needs to be increased to 30% in 2026, including by increasing the responsibility of departments for the result.

    First Vice-Rector Vadim Radaev spoke about the dissertation councils of the National Research University Higher School of Economics. There are 21 dissertation councils at the HSE, including 369 permanent members, while dissertations are reviewed by committees consisting of 900 scientists, including 620 external ones. The number of defenses has increased from 71 in 2020 to 180 in 2024. The speaker described the new criteria for assessing the publications of applicants and members of dissertation councils introduced by the Higher Attestation Commission, and the corresponding adjustments that are coming at the National Research University Higher School of Economics.

    The Academic Council meeting also held a competition for filling the positions of the teaching staff in the form of a secret ballot. Based on the results of the vote, a decision is made on whether to elect or not to the position; its results will be announced in the near future. Before the vote, Vice-Rector Alexey Koshel spoke about the main trends of the competition, and the head of the Academic Council Commission on Personnel and Awards Marina Oleshek reported on the results of its work and presented final recommendations. During the discussion, Vadim Radaev recommended paying more attention to the fight against grade inflation, and his position was supported by the Rector.

    Nikita Anisimov, HSE Academic Director Yaroslav Kuzminov and HSE President Alexander Shokhin presented honorary certificates from the Russian Ministry of Education and Science:

    Olga Afanasyeva, Deputy Dean Faculty of Creative Industries;

    To Daniel Karabekyan, Director of academic development;

    Igor Osipov, Deputy Director for operation and maintenance of buildings and structures;

    Natalia Malykhina, Acting Senior Director of HR;

    Rimma Pogodina, senior lecturer at the Faculty of Creative Industries;

    To Lyudmila Kuzmina, Associate Professor MIEM.

    Maxim Shkurnikov, Deputy Dean, received a letter of gratitude from the Russian Ministry of Education and Science Faculty of Biology and Biotechnology. The honorary title “Honorary Lawyer of the City of Moscow” was awarded to Irina Bogdanovskaya, professor Faculty of Law.

    Director MIEF Sergey Yakovlev and his deputy Oleg Zamkov received HSE medals “Recognition – 25 years of successful work”, and employees Faculty of Computer Science Associate Professor Maxim Rakhuba and Senior Lecturer Sergei Samsonov received the “Young Scientist” badge.

    Nikita Anisimov congratulated his colleagues, awarded the medal of the Order “For Merit to the Fatherland” of the 2nd degree and awarded the title “Honored Worker of Higher Education of the Russian Federation” in January, as well as Vice-Rector Victoria Panova, in February received Badge of the Russian Ministry of Foreign Affairs.

    “Attention to people, assessment of their personal merits and the merits of those groups in which they have succeeded and received these awards is the most important part of the university’s life,” the rector concluded.

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

    MIL OSI Russia News –

  • MIL-OSI: Airship AI Reports Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    2024 Net Revenue of $23.1 Million, an 87% Increase over FY 2023 Net Revenue of $12.3 Million

    No Debt on Balance Sheet Following Conversion of $2.8 million in Senior Secured Convertible Notes

    New Pro-U.S. Border Security Administration Provides Additional Macro Tailwinds for 2025 & Beyond

    REDMOND, Wash., March 03, 2025 (GLOBE NEWSWIRE) —  Airship AI Holdings, Inc. (NASDAQ: AISP) (“Airship AI” or the “Company”), a leader in AI-driven video, sensor, and data management surveillance solutions, today reported its financial and operational results for the quarter and year ended December 31, 2024.

    FY 2024 Financial Highlights

    • Net revenues were $23.1 million.
    • Gross profit was $10.5 million.
    • Gross margin was 45.7%.
    • Operating loss was $3.5 million, which reflected increased stock-based compensation and transactions costs related to the merger and overall sales levels.

    FY 2024 Financial Highlights

    • Dramatic Revenue Growth: In 2024, Airship AI delivered 87% year-over-year (“YoY”) revenue growth, growing from $12.3 million to $23.1 million. Revenue growth was driven mainly by increased sales to federal government customers, with multiple large awards for cloud-based Acropolis offerings and edge-based Outpost AI appliances.
    • Steady Gross Profit Margin: Full year gross profit as of December 31, 2024 was $10.5 million, flat YoY, primarily due to the continued high percentages of third-party hardware sales as part of turn-key solutions bundled by Airship AI with Outpost AI included. The Company is already seeing the value of these seeding opportunities in awarded business as well as pipeline opportunity growth.
    • Significant Operational Improvements: Full year operating loss as of December 31, 2024 was $3.5 million as compared to a $6.6 million loss in 2024. Numerous one-time charges were incurred in 2024, resulting from transaction costs associated with the transition to a public company, conversion of a senior secured promissory note, and partial payments to the founders for previous advances.
    • Strengthened Balance Sheet: Cash and cash equivalents as of December 31, 2024, was $11.4 million, along with $1.2 million in accounts receivable. With the conversion of issued senior secured convertible promissory notes of $2.8 million, Airship AI enters 2025 with no debt on the balance sheet.

    Q4 2024 & Subsequent Operational Highlights

    • Backlog as of December 31, 2024 was $5.5 million, including orders received late in the second half of 2024 that are expected to be delivered and invoiced across Q1 and Q2 of 2025. Backlog is not indicative of future quarterly revenue as approximately 75% of quarterly revenue is transactional and recognized in the same quarter.
    • Total validated pipeline at the year-end of 2024 was approximately $135 million, consisting of single and multi-year opportunities for AI-driven edge, video, and sensor and data management platform across all our customer verticals. The pipeline includes opportunities at varying stages of progression with expected award timeframes throughout the next 18-24 months.
    • Due to the sensitive nature of many customers and deployment use cases, the Company is often restricted from publicly disclosing awards and or limited as to the specifics of the customer and use case. Consequently, most awards are executed on closed or restricted contract vehicles, which further limits the sharing of information that might otherwise be available.
    • Multiple large contracts awarded throughout and/or subsequent to the quarter include but are not limited to:
      • $4.0 million firm-fixed price contract for an agency within the U.S. Department of Homeland Security (“DHS”), for advanced integrated solutions supporting real-time intelligence collection operations along the United States’ borders, leveraging the Company’s edge IoT appliance, Outpost AI.
      • $1.2 million firm-fixed price support and maintenance contract for our existing deployment of Acropolis Enterprise Video and Data Management Platform supporting a Fortune 100 Transportation and E-Commerce company’ global operations.
      • Follow-on seven-figure one (1) year system maintenance and sustainment contract for an existing Fortune 100 customer leveraging the Company’s Acropolis Enterprise Video and Data Management platform supporting operational and physical security requirements.
    • We began deploying new infrastructure supporting mission critical requirements along the U.S. southern border; follow-on work to our successful completion of a congressionally driven pilot opportunity earlier in the year. This follow-on work is in support of our single-largest opportunity, valued at more than $50 million over the next four (4) years. Estimated total contract value is conservatively based on data points from published market research, including size and scope, and pricing approved via awarded procurement efforts.
    • Completed $8.0 million at-the-market public offering with net proceeds to the Company of $7.0 million after deducting placement agent fees and offering expenses.
    • Hired new members of the team, at the C-Suite level and below, and promoted key members of the team to increasingly higher levels of strategic responsibility within the Company. Airship AI expects additional hires in 2025 in the sales and product development teams.
    • Launched a new routes-to-market strategy targeting business partners and resellers that are looking for differentiated alternatives in new verticals (for Airship AI) as well as partners that can help us scale more rapidly within existing verticals.
    • Put in place a marketing and branding campaign for 2025. This bifurcated plan is hyper focused on creating brand awareness in several new targeted verticals through a combination of partner and industry events, enabling partners to monetize that awareness through expanded routes to market.
    • We participated in JIFX, or Joint Interagency Field Exercise, an invite only event led by the Naval Post-Graduate School. The JIFX team leads experimentation in alternative methods to enable rapid technological development by cultivating a community of interest and hosting broadly scoped quarterly collaborative field events which enable the Department of Defense (“DoD”), the U.S. government, and allied stakeholders to identify, influence, and accelerate early-stage technology development that address national and collective security challenges.
    • We participated in TIDE, or Technology Innovation Discovery Event, an invite only DoD sponsored event that aims to help innovative small businesses and non-traditional DoD performers showcase new hardware and software technologies that can significantly improve existing software or meet new challenges in support of the National Defense Strategy.
    • We were a primary sponsor of and participant in UTAC, the premier unmanned aerial and robotic systems tactical event for Police, Public Safety, Government, and Defense agencies. UTAC is a fully immersive training event where public safety, government, enterprise, and defense operators gather to learn best practices, establish procedures, and gain experience with the latest innovations in unmanned aerial, ground, and maritime systems along augmenting technical solutions.

    Capital Markets Update:

    • Participated at the 13th Annual ROTH Technology Conference and the Benchmark 13th Annual Discovery One-on-One Conference.
    • Benchmark Company initiated coverage of Airship AI on November 13, 2024, with a Buy rating and price target of $6.

    2025 Outlook

    • 2025 net revenues of approximately $30 million, reflecting 30% revenue growth YoY, supported by a strong and validated pipeline of ~$135 million, improving gross profit margins, and a strong recurring revenue model.
    • Positive cash flow from business operations for the full year.
    • Expand AI offerings at the edge running on our Outpost AI platform and announce new offerings running at the datacenter level or in the cloud that increase customer operational efficiency using existing sources of data.
    • Continued innovation across our core Acropolis software platform supporting new workflows for on-premises and cloud-based deployments in highly secure operational environments.
    • Announce new offerings around our Digital Evidence Management System (DEMS) called Evidence Discovery Server (EDS) supporting stand-alone operations as well as integrations with other leading DEMS platforms.
    • Continue the digital transformation of our back-office operations to improve supply chain management and production-based process efficiencies to help drive continued margin expansion.
    • Launch new AI based offerings supporting partner engagement, training, and support as part of our larger strategy to provide differentiated offerings to those existing and to be recruited business partners and resellers.
    • Targeted focus on brand awareness and engagement in new verticals through targeted marketing outreach opportunities, social media platforms, Airship AI hosted technology events, and industry tradeshow events.

    Management Commentary

    “The past year has been an exciting journey as we completed our first full year as a public company amid significant shifts in domestic and global economic, social, and political landscapes,” said Paul Allen, President of Airship AI. “With this dynamic backdrop, we set ambitious goals for 2024, focusing on substantial revenue growth and strengthening our balance sheet to position the business for positive cash flow operations. The great news is that we made meaningful progress on both the top and bottom lines. We delivered 87% year-over-year revenue growth of $23.1 million at a gross margin of 46%. We ended the year with $11.4 million in cash and cash equivalents and $1.2 million in accounts receivable.

    “Our recently completed capital raise has significantly enhanced our ability to execute many of the anticipated large transactions in our pipeline, particularly those involving substantial up-front costs of goods sold. The capital raise has also enabled us to expand our sales, business development, and partner marketing capabilities by bringing in specialized industry expertise and experience in managing these large-scale defense programs. We have already made progress toward this objective with the addition of several high-caliber team members, and we are in the process of bringing on even more talent to further strengthen our capabilities.

    “As we entered 2025, we have a new administration in place that has stressed from day one that the focus is going to be on securing the border and strengthening public safety and security across the homeland. While the safety of the homeland has and should always be a bi-partisan issue, the approach to how it is done varies. The new administration has made clear many of its policies and approaches to this problem already, with technology itself and technology-based solutions playing a key role in most if not all of them. Specifically, the January 20th Secure Our Borders Executive Order states that the United States will establish a physical wall and other barriers monitored and supported by adequate personnel and technology.

    “To that point, we remain under the cloud of Continuing Resolution, which affects the whole of government to fund its ability to execute daily, at least beyond that which it was approved to do so the prior year. While the budget to fund this and other related activities is being addressed, we remain engaged with our customers already focused on these challenges, engagement which includes already funded efforts or those which are already budgeted.

    “While we are heavily focused on the agencies directly tasked to solve these challenges, we also have a larger existing business with other agencies and commercial customers that we remain focused on as well. These customers are involved daily in similarly protecting the homeland, ranging from countering the illegal trafficking of narcotics with a focus on fentanyl, protecting critical infrastructure such as courthouses, office buildings, and sensitive sites, and enforcing the laws of the land on the streets of mainstream America.

    “With the work we have already done, and the relationships we have established, we believe we are well positioned in 2025 and for the next several years to be an integral part of providing a solution for a well-defined and challenging problem that impacts every one of our shareholders.

    “Lastly, we look forward to seeing some of you at our upcoming Analyst Technology Showcase on Friday, March 14, 2025, in Dripping Springs, Texas,” concluded Mr. Allen.

    About Airship AI Holdings, Inc.

    Founded in 2006, Airship AI (NASDAQ: AISP) is a U.S. owned and operated technology company headquartered in Redmond, Washington. Airship AI is an AI-driven video, sensor and data management surveillance platform that improves public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before they occur and meaningful intelligence to decision makers. Airship AI’s product suite includes Outpost AI edge hardware and software offerings, Acropolis enterprise management software stack, and Command family of visualization tools.

    For more information, visit https://airship.ai.

    Forward-Looking Statements

    The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts of financial, performance and operational metrics and projections of market opportunity; (2) changes in the market for Airship AI’s services and technology, expansion plans and opportunities; (3) the projected technological developments of Airship AI; and (4) current and future potential commercial and customer relationships. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Airship AI’s management and are not predictions of actual performance. These forward-looking statements are also subject to a number of risks and uncertainties, as set forth in the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 28, 2025, and the other documents that the Company has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while it may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

    Investor Contact:

    Chris Tyson/Larry Holub
    MZ North America
    949-491-8235
    AISP@mzgroup.us

    AIRSHIP AI HOLDINGS, INC.
    CONSOLIDATED BALANCE SHEETS
    As of December 31, 2024 and 2023
        December
    31, 2024    		     December
    31, 2023    		  
    ASSETS            
                 
    CURRENT ASSETS:            
    Cash and cash equivalents   $ 11,414,830     $ 3,124,413  
    Accounts receivable, net of allowance for credit losses of $0     1,226,757       1,648,904  
    Prepaid expenses and other     17,883       18,368  
    Income tax receivable     –       7,230  
    Total current assets     12,659,470       4,798,915  
                     
    PROPERTY AND EQUIPMENT, NET     –       1,861  
                     
    OTHER ASSETS                
    Other assets     165,960       182,333  
    Operating lease right of use asset     882,024       1,104,804  
                     
    TOTAL ASSETS   $ 13,707,454     $ 6,087,913  
                     
    LIABILITIES AND STOCKHOLDERS’ DEFICIT                
                     
    CURRENT LIABILITIES:                
    Accounts payable – trade   $ 759,480     $ 2,908,472  
    Advances from founders     1,300,000       1,750,000  
    Accrued expenses     51,649       200,531  
    Senior Secured Convertible Promissory Notes     –       2,825,366  
    Current portion of operating lease liability     305,178       174,876  
    Deferred revenue- current portion     3,238,483       4,008,654  
    Total current liabilities     5,654,790       11,867,899  
                     
    NON-CURRENT LIABILITIES:                
    Operating lease liability, net of current portion     638,525       943,702  
    Warrant liability     34,180,618       667,985  
    Earnout liability     23,304,808       5,133,428  
    Deferred revenue- non-current     2,951,850       4,962,126  
    Total liabilities     66,730,591       23,575,140  
                     
    COMMITMENTS AND CONTINGENCIES (Note 9)                
                     
    STOCKHOLDERS’ DEFICIT:                
    Preferred stock – no par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023     –       –  
    Common stock – $0.0001 par value, 200,000,000 shares authorized, 30,588,413 and 22,812,048 shares issued and outstanding as of December 31, 2024 and 2023     3,056       2,281  
    Additional paid in capital     21,918,867       –  
    Accumulated deficit     (74,941,590 )     (17,476,700 )
    Accumulated other comprehensive loss     (3,470 )     (12,808 )
    Total stockholders’ deficit     (53,023,137 )     (17,487,227 )
                     
    TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT   $ 13,707,454     $ 6,087,913  
    AIRSHIP AI HOLDINGS, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME
    For the years ended December 31, 2024 and 2023
        Year Ended     Yar Ended  
        December
    31, 2024    		     December
    31, 2023    		  
    NET REVENUES:            
    Product   $ 18,716,196     $ 7,439,045  
    Post contract support     4,334,017       4,692,487  
    Other services     –       168,052  
     Revenues     23,050,213       12,299,584  
    COST OF NET REVENUES:                
    Cost of Sales     10,843,766       4,767,159  
    Post contract support     1,679,692       1,681,267  
    Other services     –       86,841  
     Cost of revenue     12,523,458       6,535,267  
    GROSS PROFIT     10,526,755       5,764,317  
    RESEARCH AND DEVELOPMENT EXPENSES     2,804,894       2,729,492  
    SELLING, GENERAL AND ADMINISTRATIVE EXPENSES     11,226,974       9,675,190  
    TOTAL OPERATING EXPENSES     14,031,868       12,404,682  
    OPERATING LOSS     (3,505,113 )     (6,640,365 )
    OTHER (EXPENSE) INCOME:                
    (Loss) gain from change in fair value of earnout liability     (18,171,380 )     21,976,349  
    (Loss) gain from change in fair value of warrant liability     (33,512,633 )     1,341,120  
    Loss from change in fair value of convertible debt     (141,636 )     (240,784 )
    Loss on note conversion     (1,144,676 )     –  
    Interest expense, net     (1,003,096 )     (55,685 )
    Other income (expense)     13,644       (9,501 )
    Total other (expense) income, net     (53,959,777 )     23,011,499  
                     
    (LOSS) INCOME BEFORE PROVISON FOR INCOME TAXES     (57,464,890 )     16,371,134  
                     
    Provision for income taxes     –       –  
                     
    NET (LOSS) INCOME     (57,464,890 )     16,371,134  
                     
    OTHER COMPREHENSIVE INCOME (LOSS)                
    Foreign currency translation income (loss), net     9,338       (2,702 )
                     
    TOTAL COMPREHENSIVE (LOSS) INCOME   $ (57,455,552 )   $ 16,368,432  
                     
    NET (LOSS) INCOME PER SHARE:                
    Basic   $ (2.34 )   $ 1.20  
    Diluted   $ (2.34 )   $ 0.80  
                     
    Weighted average shares of common stock outstanding                
    Basic     24,585,955       13,671,376  
    Diluted     24,585,955       20,390,663  
    AIRSHIP AI HOLDINGS, INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    For the years ended December 31, 2024 and 2023
        Year Ended     Year Ended  
        December
    31, 2024    		     December
    31, 2023    		  
                 
    CASH FLOWS FROM OPERATING ACTIVITIES:            
    Net loss   $ (57,464,890 )   $ 16,371,134  
    Adjustments to reconcile net loss to net cash used in operating activities                
    Depreciation and amortization     1,861       14,879  
    Stock-based compensation     1,078,344       715,727  
    Stock-based compensation- warrants     284,478       2,136,115  
    Amortization of operating lease right of  use asset     222,780       596,556  
    Accelerated amortization of ROU asset – lease termination     –       265,130  
    Gain from lease termination     –       (344,093 )
    Issuance of common stock for services     198,500       –  
    Noncash interest expense     1,008,419       –  
    Loss (gain) from change in fair value of warrant liability     33,512,633       (1,341,120 )
    Loss (gain) from change in fair value of earnout liability     18,171,380       (21,976,349 )
    Loss from change in fair value of convertible note     141,636       240,784  
    Loss on note conversion     1,144,676       –  
    Non cash interest, net     –       65,487  
    Changes in operating assets and liabilities:                
    Accounts receivable     422,147       (943,152 )
    Prepaid expenses and other     485       (2,329 )
    Other assets     16,373       (182,333 )
    Operating lease liability     (174,875 )     (531,621 )
    Payroll and income tax receivable     7,230       960,383  
    Accounts payable – trade and accrued expenses     (2,294,698 )     666,136  
    Deferred revenue     (2,780,447 )     (2,667 )
    NET CASH USED IN OPERATING ACTIVITIES     (6,503,968 )     (3,291,333 )
                     
    CASH FLOWS FROM FINANCING ACTIVITIES:                
    Issuance of common stock and warrants for offering, net     7,290,000       –  
    Proceeds from convertible promissory note     –       2,584,582  
    Proceeds from warrant exercise, net     7,704,540       –  
    Advances from founders, net     (450,000 )     1,150,000  
    Proceeds from reverse recapitalization     –       2,809,792  
    Proceeds from stock option exercises     240,507       –  
    Repayment of small business loan and line of credit     –       (424,540 )
                     
    NET CASH PROVIDED BY FINANCING ACTIVITIES     14,785,047       6,119,834  
                     
    NET INCREASE IN CASH AND CASH EQUIVALENTS     8,281,079       2,828,501  
                     
    Effect from exchange rate on cash     9,338       (2,702 )
                     
    CASH AND CASH EQUIVALENTS, beginning of period     3,124,413       298,614  
                     
    CASH AND CASH EQUIVALENTS, end of period   $ 11,414,830     $ 3,124,413  
                     
    Supplemental disclosures of cash flow information:                
    Interest paid   $ 11,913     $ 21,438  
    Taxes paid   $ 2,410     $ 17,247  
                     
    Noncash investing and financing                
    Elimination of advances to founders in connection with contribution of Zeppelin by shareholders   $ –     $ 1,100,000  
    Elimination of payables to founders in connection with contribution of Zeppelin by shareholders   $ –     $ 1,100,000  
    Issuance of common stock for debt interest payment   $ 1,008,442     $ –  
    Issuance of common stock for debt conversion   $ 4,114,831     $ –  
    Recognition of warrant liability   $ –     $ 15,418  
    Recognition of right-of-use asset   $ –     $ 1,162,152  
    Recognition of operating lease liability   $ –     $ 1,162,152  
    Noncash activity related to Merger-                
    Recognition of warrant liability   $ –     $ 2,009,105  
    Recognition of earnout liability   $ –     $ 27,109,777  
    Recognition of accounts payable   $ –     $ 1,500,000  

    The MIL Network –

  • MIL-OSI: Kish Bancorp, Inc. to Present at Banking Virtual Investor Conference on March 6

    Source: GlobeNewswire (MIL-OSI)

    STATE COLLEGE, Pa., March 03, 2025 (GLOBE NEWSWIRE) — Kish Bancorp, Inc. (KISB), based in State College, Pennsylvania, focused on banking, insurance, and financial services, today announced that Gregory T. Hayes, President and Chief Executive Officer, and Mark J. Cvrkel, Executive Vice President, Chief Financial Officer and Treasurer, will present live at the Banking Virtual Investor Conference hosted by VirtualInvestorConferences.com on March 6.

    DATE: March 6, 2025
    TIME: 2:00 p.m. ET
    LINK: https://bit.ly/41vwVT3
    Available for 1×1 meetings: March 7, 10, and 11, 2025

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent Company Highlights

    • Total assets increased $149.8 million, or 9.7%, to $1.7 billion at December 31, 2024, compared to $1.5 billion a year ago.
    • Total loans grew by $191.1 million, or 15.5%, year over year to $1.4 billion, compared to $1.2 billion a year ago.
    • Total deposits increased $119.0 million year over year, or 10.1%, as Kish Bank continued to attract new client relationships.
    • Fourth quarter net interest income, before provision, increased $1.5 million, or 13.3%, compared to the fourth quarter a year ago.
    • Noninterest income increased $416 thousand, or 14.4%, compared to the year ago quarter.
    • Fourth quarter net interest margin contracted 14 basis points from the fourth quarter a year ago to 3.23%.
    • Continued strong fourth quarter ROE of 13.56% and ROA of 0.97%.
    • Tangible book value per share increased 2.1% to $34.58, compared to $33.86 a year ago.
    • Paid a $0.39 per share quarterly cash dividend on October 31, 2024, to shareholders of record as of October 15, 2024, which was a $0.02 per share increase over the prior quarter.
    • At December 31, 2024, Kish Bank continued to exceed regulatory well-capitalized requirements with a Tier 1 leverage ratio of 9.02%, a Tier 1 capital ratio of 9.92% and a Total risk-based capital ratio of 10.62%.

    About Kish Bancorp, Inc.
    Kish Bancorp, Inc. is a diversified financial services corporation headquartered in Belleville, PA with executive offices in State College and an Innovation Center in Reedsville. Kish Bank, a subsidiary of Kish Bancorp, Inc., operates 19 locations serving Centre, Mifflin, Huntingdon, Blair, and Juniata counties, and northeastern Ohio. In addition to Kish Bank, other business units include: Kish Insurance, an independent property and casualty insurance agency; Kish Financial Solutions, which offers trust, fiduciary, and wealth management advisory services; Kish Benefits Consulting, which provides employee benefits consulting services; and Kish Travel, a full-service travel agency. KISB is the OTCQX stock ticker symbol for Kish Bancorp, Inc. For additional information, please visit ir.kishbancorp.com or otcmarkets.com/stock/KISB.

    In June of 2024, Kish Bancorp, Inc. was ranked 38thon American Banker Magazine’s list of Top 100 Publicly Traded Community Banks and Thrifts based on three-year average return on equity as of December 31, 2023. The rankings are derived from all publicly traded banks and thrifts in the U.S. with less than $2 billion in assets.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    CONTACTS:
    Kish Bancorp, Inc.
    Mark J. Cvrkel
    EVP, Treasurer and Chief Financial Officer 814-325-7346
    mark.cvrkel@kishbank.com

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access OTC Markets Group
    212-220-2221
    johnv@otcmarkets.com

    Kish Bancorp, Inc. | 2610 Green Tech Drive, State College, PA 16803 | 1-800-981-5474 | MyKish.com

    The MIL Network –

  • MIL-OSI: QNB Corp. to Present at the Banking Virtual Investor Conference March 6th

    Source: GlobeNewswire (MIL-OSI)

    QUAKERTOWN, Pa., March 03, 2025 (GLOBE NEWSWIRE) — QNB Corp. (OTC Bulletin Board: QNBC), the parent company of QNB Bank, based in Quakertown, PA, focused on Banking, today announced that Dave Freeman, President and Chief Executive Officer and Jeff Lehocky, Chief Financial Officer, will present live at the Banking Virtual Investor Conference hosted by VirtualInvestorConferences.com, on March 6, 2025.

    DATE: March 6th
    TIME: 11:00 to 11:30 a.m.
    LINK: https://bit.ly/3XosKpI
    Available for 1×1 meetings: Thursday (3/6), Monday (3/10), and Tuesday (3/11).

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent Company Press Release

    QNB Corp. Reports Earnings for Fourth Quarter 2024 – QNB Bank

    About QNB Corp.

    QNB Corp. is the holding company for QNB Bank, which is headquartered in Quakertown, Pennsylvania. QNB Bank currently operates twelve branches in Bucks, Lehigh and Montgomery Counties and offers commercial and retail banking services in the communities it serves. In addition, the Company provides securities and advisory services under the name of QNB Financial Services through a registered Broker/Dealer and Registered Investment Advisor, and title insurance as a member of Laurel Abstract Company LLC. More information about QNB Corp. and QNB Bank is available at QNBBank.com. 

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    CONTACTS:

    QNB Corp
    David W. Freeman
    President & Chief Executive Officer
    215-538-5600 x-5619
    dfreeman@QNBbank.com    		 Jeffrey Lehocky
    Chief Financial Officer
    215-538-5600 x-5716
    jlehocky@QNBbank.com
       
    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com    		  
       

    The MIL Network –

  • MIL-OSI Global: How are clouds’ shapes made? A scientist explains the different cloud types and how they help forecast weather

    Source: The Conversation – USA – By Ross Lazear, Instructor in Atmospheric and Environmental Sciences, University at Albany, State University of New York

    Lenticular clouds, like this one over a mountain in Chile, can look like flying saucers. Bilderbuch/Design Pics Editorial/Universal Images Group via Getty Images

    Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to curiouskidsus@theconversation.com.

    “How are clouds’ shapes made?” – Amanda, age 5, Chile

    I’m a meteorologist, and I’ve been fascinated by weather since I was 8 years old. I grew up in Minnesota, where the weather changes from wind-whipping blizzards in winter to severe thunderstorms – sometimes with tornadoes – in the summer. So, it’s not all that surprising that I’ve spent most of my life looking at clouds.

    All clouds form as a result of saturation – that’s when the air contains so much water vapor that it begins producing liquid or ice.

    Once you understand how certain clouds develop their shapes, you can learn to forecast the weather.

    Cloud types show their general heights.
    Australian Bureau of Meteorology

    Cotton ball cumulus clouds

    Clouds that look like cartoon cotton balls or cauliflower are made up of tiny liquid water droplets and are called cumulus clouds.

    Often, these are fair-weather clouds that form when the Sun warms the ground and the warm air rises. You’ll often see them on humid summer days.

    Cumulus clouds over Lander, Wyo.
    Ross Lazear, CC BY-ND

    However, if the air is particularly warm and humid, and the atmosphere above is much colder, cumulus clouds can rapidly grow vertically into cumulonimbus. When the edges of these clouds look especially crisp, it’s a sign that heavy rain or snow may be imminent.

    Wispy cirrus are ice clouds

    When cumulonimbus clouds grow high enough into the atmosphere, the temperature becomes cold enough for ice clouds, or cirrus, to form.

    Clouds made up entirely of ice are usually more transparent. In some cases, you can see the Sun or Moon through them.

    Cirrus clouds over the roof of Bard College in Annandale-on-Hudson, N.Y.
    Ross Lazear, CC BY-ND

    Cirrus clouds that forms atop a thunderstorm spread outward and can form anvil clouds. These clouds flatten on top as they reach the stratosphere, where the atmosphere begins to warm with height.

    However, most cirrus clouds aren’t associated with storms at all. There are many ice clouds associated with tranquil weather that are simply regions of the atmosphere with more moisture but not precipitation.

    Fog and stratus clouds

    Clouds are a result of saturation, but saturated air can also exist at ground level. When this occurs, we call it fog.

    In temperatures below freezing, fog can actually deposit ice onto objects at or near the ground, called rime ice.

    Reading clouds, with the National Oceanic and Atmospheric Administration.

    When clouds form thick layers, we add the word “stratus,” or “layer,” to the name. Stratus can occur just above the ground, or a bit higher up – we call it altostratus then. It can occur even higher and become cirrostratus, or a layer or ice clouds.

    If there’s enough moisture and lift, stratus clouds can create rain or snow. These are nimbostratus.

    How mountains can create their own clouds

    There are a number of other unique and beautiful cloud types that can form as air rises over mountain slopes and other topography.

    Lenticular clouds, for example, can look like flying saucers hovering just above, or near, mountaintops. Lenticular clouds can actually form far from mountains, as wind over a mountain range creates an effect like ripples in a pond.

    A banner cloud appears to stream out from the Matterhorn, in the Alps on the border between Italy and Switzerland.
    Zacharie Grossen via Wikimedia, CC BY

    Rarer are banner clouds, which form from horizontally spinning air on one side of a mountain.

    Wind plays a big role

    You might have looked up at the sky and noticed one layer of clouds moving in a different direction from another. Clouds move along with the wind, so what you’re seeing is the wind changing direction with height.

    Cirrus clouds at the level of the jet stream – often about 6 miles (10 kilometers), above the ground – can sometimes move at over 200 miles per hour (320 kilometers per hour). But because they are so high up, it’s often hard to tell how fast they are moving.

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

    – ref. How are clouds’ shapes made? A scientist explains the different cloud types and how they help forecast weather – https://theconversation.com/how-are-clouds-shapes-made-a-scientist-explains-the-different-cloud-types-and-how-they-help-forecast-weather-247682

    MIL OSI – Global Reports –

  • MIL-OSI: Cove Capital and Kazakhstan’s National Mining Company Formalize Joint Venture to Develop the Akbulak Rare Earth Project

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 03, 2025 (GLOBE NEWSWIRE) — Cove Capital LLC (“Cove” or the “Company”) and JSC Qazgeology, Kazakhstan’s national geological exploration company, and a wholly-owned subsidiary of JSC Tau-Ken Samruk National Mining Company, are pleased to announce the official registration of their joint venture, Akbulak REE Ltd., as a Private Company under the Astana International Financial Centre (AIFC). This milestone marks a significant step in advancing further exploration and development of the Akbulak Rare Earth Project in the Kostanay Region, Kazakhstan.

    The Akbulak Rare Earth Project hosts a historical resource of 380,000 tons of rare earth oxides, including neodymium and praseodymium, key elements in permanent (NdFeB) magnets, and yttrium, utilized in electronics, medicine, and materials science applications.

    According to the terms of the Joint Venture Agreement, Cove Kaz Capital Group, a Portfolio Company of Cove Capital, will finance the project, with subsequent financing distributed proportionally. Cove Kaz Capital Group will own 75% while Qazgeology will own 25%.

    A key achievement accompanying the JV formation is the successful transfer of the exploration license for the Akbulak project from Qazgeology to Akbulak REE Ltd, requiring the approval of Ministry of Industry and Construction of the Republic of Kazakhstan. This important step enables the newly formed entity to commence exploration and project development activities immediately, positioning the Company as a key player in Kazakhstan’s growing rare earth and critical minerals industry.

    Pini Althaus, CEO of Cove Capital, commented:

    “The formation of Akbulak REE Ltd. and the license transfer mark a significant advancement in our strategy to develop critical mineral resources in Kazakhstan. This joint venture is a testament to our commitment to partnering with leading local institutions like Qazgeology, to unlock the full potential of Kazakhstan’s rare earth and critical minerals deposits, whilst building a fully integrated mine-to-magnet supply chain which will benefit Kazakhstan and contributing to global supply chains.”

    Nariman Absametov, Acting CEO of Tau-Ken Samruk, added:

    “Kazakhstan holds enormous potential in the rare earth sector, and this joint venture is a concrete step toward turning that potential into reality. By formalizing this partnership and transferring the Akbulak license, we are ensuring that exploration efforts move forward efficiently with the right expertise and resources in place. This project is a strong example of how public-private cooperation can drive the development of critical minerals.”

    Dauren Abuov, Director of Qazgeology, stated:

    “The Akbulak REE project is strategically important for Kazakhstan’s mining sector, and we are pleased to see it moving into an active development phase. The license transfer to Akbulak REE Ltd. allows for dedicated exploration and investment, accelerating the project’s timeline. With Cove Capital as our partner, we are confident in our ability to advance exploration, attract further investment, and contribute to the rare earth supply chain.”

    Akbulak REE Ltd. will now proceed with comprehensive geological surveys, feasibility studies, and exploration work to assess and develop the Akbulak REE deposit.

    Cove Capital LLC in Kazakhstan

    In 2023, Cove Capital’s Portfolio Company, Kaz Resources LLC (through its wholly owned subsidiary Kaz Critical Minerals LLP), became the first U.S. company to receive critical minerals and rare earths land concessions in Kazakhstan.

    Kaz Critical Minerals LLP is the holder of twelve (12) critical minerals concessions and a license for tailings concessions in Kazakhstan. These concessions include minerals such as rare earth elements, lithium, tantalum, beryllium, niobium, cesium and tin.

    In September 2023, Cove Capital LLC signed an MoU with Kazakhstan’s Sovereign Wealth Fund, Samruk Kazyna, as part of the cooperation on critical raw materials, specifically rare earth metals.

    On April 8, 2024, Cove Capital LLC, announced a landmark collaboration with Tau-Ken Samruk, Kazakhstan’s national mining company, aimed at advancing the exploration and development of rare earth and critical metals within the Republic of Kazakhstan.

    Tau-Ken Samruk (via “Qazgeology” JSC), entered into a binding joint venture agreement with Cove Capital for geological exploration on the Akbulak rare earth project in the Kostanay region of Kazakhstan. Historical reserves at the site include reserves of rare earth elements, including those used for permanent magnets.

    To carry out geological exploration work, a joint venture was be created between “Qazgeology” JSC and Cove Capital with the parties’ participation shares: Cove Capital – 75% and “Kazgeology” JSC – 25%. Cove Capital will fully finance exploration work until reserves are listed on the balance sheet.

    In 2024, Kaz Critical Minerals completed 7,000 meters of drilling on 4 of its 13 concessions and commenced drill site preparation a further 3 concessions in anticipation of its 2025 drill program, making it one of the most active critical minerals companies in Kazakhstan.

    For further information, please contact:

    Brandon McGrath
    Samantha O’Neil
    info@covecapital.com.au

    About Cove Capital LLC
    Cove Capital was founded in 2015. With offices in Melbourne and New York (head office), Cove Capital invests in mining, renewable energy, and clean technology. Since 2018, Cove Capital has been at the forefront of investment and development in critical minerals projects. Cove Capital, under the visionary leadership of Mr. Pini Althaus, brings unparalleled knowledge and extensive experience to the critical minerals industry.

    About Qazgeology
    Qazgeology is Kazakhstan’s national geological exploration company, dedicated to the discovery and development of the country’s mineral wealth. Through strategic partnerships and cutting-edge research, Qazgeology plays a pivotal role in advancing Kazakhstan’s mining industry and unlocking new resources for future development.

    About Tau-Ken Samruk
    Tau-Ken Samruk is the national mining company of Kazakhstan, overseeing the efficient development of the country’s mineral resources. Committed to innovation and sustainability, Tau-Ken Samruk collaborates with domestic and international partners to enhance the competitiveness of Kazakhstan’s mining sector and support economic growth.

    The MIL Network –

  • MIL-OSI: Australian Oilseeds Announces Appointment of Amarjeet Singh as Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    COOTAMUNDRA, Australia, March 03, 2025 (GLOBE NEWSWIRE) — Australian Oilseeds Holdings Limited, a Cayman Islands exempted company (the “Company”) (NASDAQ: COOT), today announced the appointment of Amarjeet Singh as Chief Financial Officer (“CFO”) effective February 28, 2025. Singh brings more than 20 years of finance and accounting experience and held leadership roles at major companies in the global agricultural sector and will replace Bob Wu who is leaving his position to explore new opportunities outside of the Company.

    “We are excited to welcome Amarjeet as the Company’s new Chief Financial Officer,” said Gary Seaton, Chief Executive Officer. “His deep expertise in finance and accounting coupled with a strong background in the global agricultural sector make him the ideal candidate to lead our finance organization at this pivotal time. Amarjeet is a strategic leader with a proven track record of driving growth and productivity along with improving profitability. On behalf of everyone at the Company, I would like to thank Bob for his significant contributions and wish him success in his future endeavors. I am particularly grateful for his leadership and support over the last four years that we have worked together. He has been a critical player to drive our strategic agenda, leading key initiatives, which will benefit us for many years to come”

    Mr. Singh commented, “It’s an exciting time to join Australian Oilseeds as the Company continues to focus on expanding and scaling its business globally. I look forward to working with this talented team to strengthen our foundation and ensure we are well positioned to deliver significant long-term sustainable growth and shareholder value.”

    Mr. Singh is an experienced financial controller with a demonstrated history of working in the Agri-commodities and manufacturing listed companies, with experience in financial reporting, consolidation, budgeting, accounting, treasury management, and management information systems (MIS) including leadership roles at major companies in the global agricultural sector. Before joining Australian Oilseeds, from 2018 to 2025, he served as Head of Finance at MOI International Pty Ltd, a subsidiary of Mewah International, a large agricultural company listed in Singapore. From 2011 to 2017, Mr. Singh was Manager, Accounts and Treasury, at Mewah Oils & Fats, another subsidiary of Mewah International. Prior to Mewah, Mr. Singh held finance and accounting roles of progressive responsibility at divisions of large, NYSE-listed multi-national companies including General Electric and Snap-On Tools from 2008 to 2011 and served as an Audit Senior for BDO Lodha & Co. from 2004 to 2007. Mr. Singh is a graduate of the Institute of Chartered Accountants of India as a chartered accountant, specializing in Finance & Accountancy in 2007.

    About Australian Oilseeds Investments Pty Ltd.: Australian Oilseeds Investments Pty Ltd. is an Australian proprietary company that, directly and indirectly through its subsidiaries, is focused on the manufacture and sale of sustainable oilseeds (e.g., seeds grown primarily for the production of edible oils) and is committed to working with all suppliers in the food supply chain to eliminate chemicals from the production and manufacturing systems to supply quality products to customers globally. The Company engages in the business of processing, manufacture and sale of non-GMO oilseeds and organic and non-organic food-grade oils, for the rapidly growing oilseeds market, through sourcing materials from suppliers focused on reducing the use of chemicals in consumables in order to supply healthier food ingredients, vegetable oils, proteins and other products to customers globally. Over the past 20 years, the Company’s cold pressing oil plant has grown to become the largest in Australia, pressing strictly GMO-free conventional and organic oilseeds.

    Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, business strategy and plans, market trends and market size, opportunities and positioning. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. For example, global economic conditions could in the future reduce demand for our products; we could in the future experience cybersecurity incidents; we may be unable to manage or sustain the level of growth that our business has experienced in prior periods; our financial resources may not be sufficient to maintain or improve our competitive position; we may be unable to attract new customers, or retain or sell additional products to existing customers; we may experience challenges successfully expanding our marketing and sales capabilities, including further specializing our sales force; customer growth could decelerate in the future; we may not achieve expected synergies and efficiencies of operations from recent acquisitions or business combinations, and we may not be able to pay off our convertible notes when due. Further information on potential factors that could affect our financial results is included in our most recent Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. The forward-looking statements included in this press release represent our views only as of the date of this press release and we assume no obligation and do not intend to update these forward-looking statements.

    Contact
    Australian Oilseeds Holdings Limited
    126-142 Cowcumbla Street
    Cootamundra New South Wales 2590
    Attn: Gary Seaton, CEO
    Email: gary@energreennutrition.com.au

    Investor Relations Contact
    Reed Anderson
    (646) 277-1260
    reed.anderson@icrinc.com

    The MIL Network –

  • MIL-OSI: North American Construction Group Ltd. Reschedules Fourth Quarter Results Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    ACHESON, Alberta, March 03, 2025 (GLOBE NEWSWIRE) — North American Construction Group Ltd. (“NACG” or “the Company”) (TSX:NOA.TO/NYSE:NOA) announced today that it has rescheduled the release of its financial results and conference call for the fourth quarter ended December 31, 2024, which had previously been scheduled on Wednesday, March 5, 2025 and Thursday March 6, 2025, respectively. The Company will release its financial results for the fourth quarter ended December 31, 2024 on Wednesday, March 12, 2025 after markets close. Following the release of its financial results, NACG will hold a conference call and webcast on Thursday, March 13, 2025, at 7:00 a.m. Mountain Time (9:00 a.m. Eastern Time).

    The Company is rescheduling the release of its financial results and related conference call to allow it more time to complete the year-end reporting processes within its Heavy Equipment – Australia segment. The additional time is necessary due to first-year SOX reporting requirements, high activity levels at year-end and its implementation of a new ERP system, all within the segment which was previously a privately held entity.

    The call can be accessed by dialing:
    Toll free: 1-800-717-1738
    Conference ID: 71653

    A replay will be available through April 13, 2025, by dialing:
    Toll Free: 1-888-660-6264
    Conference ID: 71653
    Playback Passcode: 71653

    A slide deck for the webcast will be available for download the evening prior to the call and will be found on the company’s website at www.nacg.ca/presentations/

    The live presentation and webcast can be accessed at: North American Construction Group Ltd. Fourth Quarter Results Conference Call and Webcast Registration

    A replay will be available until April 13, 2025, using the link provided.

    About the Company

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

    For further information, please contact:        

    Jason Veenstra, CPA, CA
    Chief Financial Officer
    North American Construction Group Ltd.
    Phone: (780) 960-7171
    Email: ir@nacg.ca 

    The MIL Network –

  • MIL-OSI: PayPal launches its biggest online sales event in Australia, PayPal Frenzy

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, March 03, 2025 (GLOBE NEWSWIRE) — Bargain hunting Aussies can get ready to grab some fabulous discounts, with PayPal today announcing its biggest online sales event in Australia to date, PayPal Frenzy, with deals from more than 200 leading brands.

    PayPal, Australia’s most trusted way to pay onlinei, is partnering with Click Frenzy, to launch a seven-day online sale event, which will offer customers deals of up to 80% off, across leading fashion, beauty, home and tech brands.

    Deal hunters can dive in from 7pm (AEDT) on Tuesday, 4 March and keep an eye on the PayPal Australia and Click Frenzy Instagram channels for new offers until midnight, 10 March.

    PayPal lets shoppers spread out the cost of their purchases over 4 instalments, with PayPal Pay in 4 offering no late fees or interest charges. In fact, half (48%) of Australian buy now, pay later (BNPL) users say they’ve now switched to PayPal Pay in 4 because it has no late fees.ii

    PayPal’s Head of Consumer Marketing, Caitlin Hoey, said: “In a climate where Aussies are having to watch their hip pockets, sales can be a great tactic to spread your money further. This year we’re excited to expand PayPal Frenzy across fashion, electronics, home goods, travel, sport, home/interiors and even something for our furry friends.

    “Additionally, you’ve got the flexibility to pay later with PayPal Pay in 4 – letting you score unmissable deals using four easy instalments with no late fees or interest.

    “With research showing two-thirds of Aussie BNPL customers use BNPL to spread out the cost of larger purchases and more than half to manage cost of living pressures or their budget, PayPal Pay in 4 gives Australian consumers the payment flexibility and choice they’re looking for.” ii

    Payment methods can matter as much as discounts, with 38% of Australians having abandoned an online purchase because their favourite payment method wasn’t available and research indicating that PayPal is Australia’s most preferred and most-trusted online payment method.ii

    PayPal Frenzy is thrilled to welcome some of the biggest brands including Chemist Warehouse, The Iconic, Temu, Webjet and over 200 more.

    Here is just a sneak peak of what shoppers can expect:

    • Chemist Warehouse – up to 1/2 price off RRP on Vitamins & Supplements
    • The Iconic
      • 25% off on Women’s, Men’s & Kid’s
      • Up To 25% off on Sports, Beauty & Home
      • 40% Dresses and Sandals
      • 30% Women’s Footwear
    • Temu – Up to 30% off for new users
    • Webjet – $50 off Domestic Flight bookings when you check-out with PayPal Pay in 4
    • Sennheiser – 50% off storewide
    • Petbarn – Members save up to 40%
    • Manning Cartell – Dresses from $90 and up to 80% off.
    • Decathlon – Save up to 50% Sports Equipment (online only)
    • FILA – Up to 70% sitewide

    During PayPal Frenzy, 300 lucky shoppers will have the chance to win a share of $120,000 through PayPal’s social media giveaway.iii Simply checkout with PayPal Pay in 4 during the sale event and follow the steps to enter via the PayPalAU Instagram account.

    For all the amazing deals, follow PayPal Australia on Instagram (PayPalAU) and visit PayPal Frenzy.

    PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy.  For more information, visit https://about.pypl.com/ and https://investor.pypl.com/. 

    PayPal Australia was established in 2005 and has more than 9.5 million active Australian customer accounts. PayPal enables Australian consumers and businesses to easily and securely send, receive, and manage their money. The PayPal service is provided by PayPal Australia Pty Limited (ABN 93 111 195 389) which holds an Australian Financial Services Licence number 304962. PayPal credit services including PayPal Pay in 4 are provided by PayPal Credit Pty Limited (ACN 600 629 258). For more information visit PayPal Australia Newsroom for more information and follow us on Instagram or Facebook. 

    Established in 2012, Click Frenzy has partnered with 1000s of Australia’s biggest retailers to bring Aussie consumers the best deals and exclusive offers to one centralised location.

    Media Contact:
    For all media enquiries, interviews, or images, please contact Edelman Australia on 0432 159 901/ 0459 431 732 paypalAU@edelman.com / Agent99 PR on 0402 420 247 zarah@agent99pr.com.  

    References:

    i.   PayPal has been awarded Most Trusted Payments Brand 2024 – Roy Morgan Most Trusted Brand Awards 2024.
    ii.  PayPal Australia eCommerce Index 2025. Research conducted by Fifth Quadrant, commissioned by PayPal Australia. Online survey of 1.022 Consumers.
    iii. Terms & Conditions and eligibility rules apply. For competition T&Cs see the PayPal Australia Newsroom for full PayPal Pay in 4 and competition terms see PayPal.com/au.

    The MIL Network –

  • MIL-OSI: Monroe Capital Corporation BDC Announces Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 03, 2025 (GLOBE NEWSWIRE) — Monroe Capital Corporation (NASDAQ: MRCC) today announced its financial results for the fourth quarter and full year ended December 31, 2024. The Board of Directors of Monroe also declared its first quarter distribution of $0.25 per share, payable on March 31, 2025 to stockholders of record on March 14, 2025.

    Except where the context suggests otherwise, the terms “Company,” “we,” “us,” and “our” refer to Monroe Capital Corporation (together with its subsidiaries).

    Fourth Quarter 2024 Financial Highlights

    • Net Investment Income (“NII”) of $6.0 million, or $0.28 per share
    • Adjusted Net Investment Income (a non-GAAP measure described below) of $6.2 million, or $0.29 per share
    • Net increase (decrease) in net assets resulting from operations of $(1.7) million, or $(0.08) per share
    • Net Asset Value (“NAV”) of $191.8 million, or $8.85 per share
    • Paid quarterly dividend of $0.25 per share on December 30, 2024
    • Current annual cash dividend yield to stockholders of approximately 11.4%(1)

    Full Year 2024 Financial Highlights

    • NII of $24.5 million, or $1.13 per share
    • Adjusted Net Investment Income (a non-GAAP measure described below) of $25.0 million, or $1.15 per share
    • Net increase in net assets resulting from operations of $9.7 million, or $0.45 per share

    Chief Executive Officer Theodore L. Koenig commented, “We are pleased to announce that we paid a $0.25 per share dividend during the fourth quarter. Our predominantly first lien portfolio continued to generate attractive risk-adjusted returns during the fourth quarter, with Adjusted Net Investment Income supporting a compelling 11.4% annualized dividend yield. We remain committed to prudent portfolio management, with a focus on maintaining the portfolio’s asset quality across varying economic environments.”

    Monroe Capital Corporation is a business development company affiliate of the award-winning private credit investment firm and lender, Monroe Capital LLC.
    _______________________
    (1) Based on an annualized dividend and closing share price as of February 28, 2025.

    Management Commentary

    Adjusted Net Investment Income totaled $6.2 million, or $0.29 per share for the quarter ended December 31, 2024, a decrease from $6.6 million, or $0.31 per share for the quarter ended September 30, 2024. NAV decreased by $0.33 per share, or 3.6%, to $191.8 million or $8.85 per share as of December 31, 2024, compared to $198.9 million or $9.18 per share as of September 30, 2024. The decrease in NAV this quarter was primarily the result of net unrealized losses associated with a certain portfolio company, partially offset by NII in excess of the dividend paid during the quarter.

    At quarter end, the Company’s debt-to-equity leverage increased from 1.50 times debt-to-equity at September 30, 2024 to 1.53 times debt-to-equity at December 31, 2024 as a result of the timing of certain portfolio company paydowns. These proceeds were used to pay down the revolving credit facility subsequent to year-end. We continue to focus on managing our investment portfolio and selectively redeploying capital resulting from future repayments.

    Selected Financial Highlights
    (in thousands, except per share data)

      December 31, 2024   September 30, 2024
    Consolidated Statements of Assets and Liabilities data: (audited)   (unaudited)
    Investments, at fair value $ 457,048     $ 474,259  
    Total assets $ 490,671     $ 501,862  
    Net assets $ 191,762     $ 198,893  
    Net asset value per share $ 8.85     $ 9.18  
                   
      For the Quarters Ended
      December 31, 2024   September 30, 2024
    Consolidated Statements of Operations data: (unaudited)
    Net investment income $ 6,022     $ 6,481  
    Adjusted net investment income(2) $ 6,185     $ 6,617  
    Net gain (loss) $ (7,737 )   $ (1,515 )
    Net increase (decrease) in net assets resulting from operations $ (1,715 )   $ 4,966  
           
    Per share data:      
    Net investment income $ 0.28     $ 0.30  
    Adjusted net investment income(2) $ 0.29     $ 0.31  
    Net gain (loss) $ (0.36 )   $ (0.07 )
    Net increase (decrease) in net assets resulting from operations $ (0.08 )   $ 0.23  
                   

    _______________________
    (2) See Non-GAAP Financial Measure – Adjusted Net Investment Income below for a detailed description of this non-GAAP measure and a reconciliation from NII to Adjusted Net Investment Income. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company.

    Portfolio Summary

      December 31, 2024   September 30, 2024
      (unaudited)
    Investments, at fair value $ 457,048     $ 474,259  
    Number of portfolio company investments   91       94  
    Percentage portfolio company investments on non-accrual(3)   3.4 %     3.1 %
    Weighted average contractual yield(4)   10.2 %     11.0 %
    Weighted average effective yield(4)   10.2 %     11.0 %
           
    Asset class percentage at fair value:      
    First lien loans   79.1 %     80.0 %
    Junior secured loans   6.5 %     6.4 %
    Equity securities   14.4 %     13.6 %
                   

    _______________________
    (3) Represents portfolio loans or preferred equity investments on non-accrual status as a percentage of total investments at fair value.
    (4) Portfolio yield is calculated only on the portion of the portfolio that has a contractual coupon and therefore does not account for dividends on equity investments (other than preferred equity investments).

    Financial Review

    Results of Operations: Fourth Quarter 2024

    NII for the quarter ended December 31, 2024 totaled $6.0 million, or $0.28 per share, compared to $6.5 million, or $0.30 per share, for the quarter ended September 30, 2024. Adjusted Net Investment Income was $6.2 million, or $0.29 per share, for the quarter ended December 31, 2024, compared to $6.6 million, or $0.31 per share, for the quarter ended September 30, 2024. Excluding the impact of the incentive fee limitations of $(1.2) million and $(0.7) million for the quarters ended December 31, 2024 and September 30, 2024, respectively, Adjusted Net Investment Income totaled $5.0 million, or $0.23 per share for the quarter ended December 31, 2024, a decrease from $5.9 million, or $0.27 per share for the quarter ended September 30, 2024. Please refer to the Company’s Form 10-K for additional information on the Company’s incentive fee structure and calculation.

    Total investment income for the quarter ended December 31, 2024 totaled $14.0 million, compared to $15.7 million for the quarter ended September 30, 2024. Total investment income decreased by $1.7 million primarily due to the declining interest rate environment. The decrease in average invested assets and lower other income also contributed to the decrease in total investment income.

    Total expenses for the quarter ended December 31, 2024 were $8.0 million, compared to $9.2 million for the quarter ended September 30, 2024. Excluding the impact of the incentive fee limitations, total expenses decreased by $0.7 million primarily due to lower interest and other debt financing expenses associated with the lower interest rate environment and a decrease in average debt outstanding during the quarter.

    Net gain (loss) was $(7.7) million for the quarter ended December 31, 2024, compared to $(1.5) million for the quarter ended September 30, 2024. Unrealized losses associated with the change in fair value for a certain portfolio company was the primary driver of the net loss on investments during the quarter ended December 31, 2024.

    The Company’s average portfolio mark decreased by 1.7%, from 93.9% of amortized cost as of September 30, 2024 to 92.2% of amortized cost as of December 31, 2024.

    Net increase (decrease) in net assets resulting from operations was $(1.7) million, or $(0.08) per share, for the quarter ended December 31, 2024, compared to $5.0 million, or $0.23 per share, for the quarter ended September 30, 2024.

    Results of Operations: Full Year 2024

    NII for the year ended December 31, 2024 totaled $24.5 million, or $1.13 per share, compared to $23.2 million, or $1.07 per share, for the year ended December 31, 2023. Adjusted Net Investment Income was $25.0 million, or $1.15 per share, for the year ended December 31, 2024, compared to $24.1 million, or $1.11 per share, for the year ended December 31, 2023. Excluding the impact of the incentive fee limitations of $2.9 million for the year ended December 31, 2024 (no incentive fee limitations for the year ended December 31, 2023), Adjusted Net Investment Income totaled $22.1 million, or $1.01 per share, for the year ended December 31, 2024, a decrease from $24.1 million, or $1.11 per share, for the year ended December 31, 2023. Please refer to the Company’s Form 10-K for additional information on the Company’s incentive fee structure and calculation.

    Total investment income for the year ended December 31, 2024 totaled $60.5 million, compared to $64.3 million for the year ended December 31, 2023. The decrease in investment income of $3.8 million during the year ended December 31, 2024, compared to the year ended December 31, 2023, was primarily due to lower interest income and payment-in-kind (“PIK”) interest income. The reduction in interest income and PIK interest income was primarily driven by a decrease in average invested assets and the placement of additional portfolio companies on non-accrual status. Lower effective rates on the portfolio resulting from the declining interest rate environment during the second half of the year ended December 31, 2024 also contributed to the decrease in both interest income and PIK interest income. The decrease in interest income and PIK interest income was partially offset by an increase in other income, primarily driven by the reversal of $1.6 million in previously accrued fees related to the former loan investment in IT Global Holding LLC, which was recognized during the year ended December 31, 2023.

    Total expenses for the year ended December 31, 2024 were $36.0 million, compared to $41.0 million for the year ended December 31, 2023. Excluding the impact of the incentive fee limitations, total expenses decreased by $2.1 million primarily due to lower interest and other debt financing expenses associated with a decrease in average debt outstanding during the quarter. Lower base management fees associated with the decline in invested assets during the year also contributed to the decrease in total expenses.

    Net gain (loss) was $(14.8) million for the year ended December 31, 2024, compared to $(22.9) million for the year ended December 31, 2023. This net loss for the year ended December 31, 2024 was primarily due to mark-to-market losses from certain portfolio companies that were still held as of December 31, 2024. These unrealized losses were partially offset by mark-to-market gains in the rest of the portfolio, driven by spread tightening in the direct lending markets during the year.

    The Company’s average portfolio mark decreased by 3.4%, from 95.6% of amortized cost as of December 31, 2023 to 92.2% of amortized cost as of December 31, 2024.

    Net increase (decrease) in net assets resulting from operations was $9.7 million, or $0.45 per share, for the year ended December 31, 2024, compared to $0.4 million, or $0.02 per share, for the year ended December 31, 2023.

    Liquidity and Capital Resources

    As of December 31, 2024, the Company had $9.0 million in cash and cash equivalents, $163.9 million of debt outstanding on its revolving credit facility and $130.0 million of debt outstanding on its 2026 Notes. As of December 31, 2024, the Company had approximately $91.1 million available for additional borrowings on its revolving credit facility, subject to borrowing base availability.

    MRCC Senior Loan Fund

    MRCC Senior Loan Fund I, LLC (“SLF”) is a joint venture with Life Insurance Company of the Southwest (“LSW”), an affiliate of National Life Insurance Company. SLF invests primarily in senior secured loans to middle market companies in the United States. The Company and LSW have each committed $50.0 million of capital to the joint venture. As of December 31, 2024, the Company had made net capital contributions of $42.7 million in SLF with a fair value of $32.7 million, as compared to net capital contributions of $42.7 million in SLF with a fair value of $32.9 million as of September 30, 2024. During the quarter ended December 31, 2024, the Company received dividend income from SLF of $0.9 million, consistent with the $0.9 million received during the quarter ended September 30, 2024. SLF’s underlying investments are loans to middle-market borrowers that are generally larger than the rest of MRCC’s portfolio which is focused on lower middle-market companies. SLF’s average mark on the underlying investment portfolio decreased slightly during the quarter, from 87.0% of amortized cost as of September 30, 2024, to 86.8% of amortized cost as of December 31, 2024.

    As of December 31, 2024, SLF had total assets of $104.2 million (including investments at fair value of $98.0 million), total liabilities of $38.7 million (including borrowings under the $110.0 million secured revolving credit facility with Capital One, N.A. (the “SLF Credit Facility”) of $38.2 million) and total members’ capital of $65.5 million. As of September 30, 2024, SLF had total assets of $107.8 million (including investments at fair value of $98.7 million), total liabilities of $42.0 million (including borrowings under the SLF Credit Facility of $41.5 million) and total members’ capital of $65.8 million.

    Non-GAAP Financial Measure – Adjusted Net Investment Income

    On a supplemental basis, the Company discloses Adjusted Net Investment Income (including on a per share basis) which is a financial measure that is calculated and presented on a basis of methodology other than in accordance with generally accepted accounting principles of the United States of America (“non-GAAP”). Adjusted Net Investment Income represents NII, excluding the net capital gains incentive fee and income taxes. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company. The management agreement with the Company’s advisor provides that a capital gains incentive fee is determined and paid annually with respect to realized capital gains (but not unrealized capital gains) to the extent such realized capital gains exceed realized and unrealized capital losses for such year. Management believes that Adjusted Net Investment Income is a useful indicator of operations exclusive of any net capital gains incentive fee as NII does not include gains associated with the capital gains incentive fee.

    The following tables provide a reconciliation from NII (the most comparable GAAP measure) to Adjusted Net Investment Income for the periods presented (in thousands, except per share data):

       
      For the Quarters Ended
      December 31, 2024   September 30, 2024
      Amount   Per Share
    Amount    		   Amount   Per Share
    Amount
      (unaudited)
    Net investment income $ 6,022     $ 0.28     $ 6,481     $ 0.30  
    Net capital gains incentive fee   —       —       —       —  
    Income taxes, including excise taxes   163       0.01       136       0.01  
    Adjusted Net Investment Income $ 6,185     $ 0.29     $ 6,617     $ 0.31  
                                   
      For the Years Ended
      December 31, 2024   December 31, 2023
      Amount   Per Share
    Amount    		   Amount   Per Share
    Amount
      (unaudited)
    Net investment income $ 24,532     $ 1.13     $ 23,249     $ 1.07  
    Net capital gains incentive fee   —       —       —       —  
    Income taxes, including excise taxes   452       0.02       806       0.04  
    Adjusted Net Investment Income $ 24,984     $ 1.15     $ 24,055     $ 1.11  
                                   

    Adjusted Net Investment Income may not be comparable to similar measures presented by other companies, as it is a non-GAAP financial measure that is not based on a comprehensive set of accounting rules or principles and therefore may be defined differently by other companies. In addition, Adjusted Net Investment Income should be considered in addition to, not as a substitute for, or superior to, financial measures determined in accordance with GAAP.

    Fourth Quarter 2024 Financial Results Conference Call

    The Company will host a webcast and conference call to discuss these operating and financial results on Monday, March 3, 2025 at 12:00 p.m. Eastern Time. The webcast will be hosted on a webcast link located in the Investor Relations section of the Company’s website at http://ir.monroebdc.com/events.cfm. To participate in the conference call, please dial (800) 715-9871 approximately 10 minutes prior to the call. Please reference conference ID # 7817000.

    For those unable to listen to the live broadcast, the webcast will be available for replay on the Company’s website approximately two hours after the event.

    For a more detailed discussion of the financial and other information included in this press release, please also refer to the Company’s Form 10-K for the year ended December 31, 2024, which was filed with the SEC (www.sec.gov) on Friday, February 28, 2025.

    First Quarter 2025 Distribution

    The Board of Directors of the Company declared its first quarter distribution of $0.25 per share, payable on March 31, 2025 to stockholders of record on March 14, 2025. In October 2012, the Company adopted a dividend reinvestment plan that provides for reinvestment of distributions on behalf of its stockholders, unless a stockholder elects to receive cash prior to the record date. When the Company declares a cash distribution, stockholders who have not opted out of the dividend reinvestment plan prior to the record date will have their distribution automatically reinvested in additional shares of the Company’s capital stock. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company’s periodic report filed with the SEC.

               
    MONROE CAPITAL CORPORATION
    CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
    (in thousands, except per share data)
               
      December 31,
    2024    		   September 30,
    2024    		   December 31,
    2023
      (audited)   (unaudited)   (audited)
    Assets          
    Investments, at fair value:          
    Non-controlled/non-affiliate company investments $ 343,835     $ 355,273     $ 371,723  
    Non-controlled affiliate company investments   80,483       86,089       83,541  
    Controlled affiliate company investments   32,730       32,897       33,122  
    Total investments, at fair value (amortized cost of: $495,797, $505,008 and $510,876 respectively)   457,048       474,259       488,386  
    Cash and cash equivalents   9,044       4,070       4,958  
    Interest and dividend receivable   23,511       22,910       19,349  
    Other assets   1,068       623       493  
    Total assets $ 490,671     $ 501,862     $ 513,186  
    Liabilities          
    Debt $ 293,900     $ 299,000     $ 304,100  
    Less: Unamortized debt issuance costs   (1,925 )     (2,254 )     (3,235 )
    Total debt, less unamortized debt issuance costs   291,975       296,746       300,865  
    Interest payable   2,903       1,351       3,078  
    Base management fees payable   1,965       2,006       2,100  
    Incentive fees payable   —       730       1,319  
    Accounts payable and accrued expenses   2,066       2,090       2,100  
    Directors’ fees payable   —       46       —  
    Total liabilities   298,909       302,969       309,462  
    Net Assets          
    Common stock, $0.001 par value, 100,000 shares authorized, 21,666, 21,666 and 21,666 shares issued and outstanding, respectively $ 22     $ 22     $ 22  
    Capital in excess of par value   297,712       298,127       298,127  
    Accumulated undistributed (overdistributed) earnings   (105,972 )     (99,256 )     (94,425 )
    Total net assets $ 191,762     $ 198,893     $ 203,724  
    Total liabilities and total net assets $ 490,671     $ 501,862     $ 513,186  
    Net asset value per share $ 8.85     $ 9.18     $ 9.40  
                           
    MONROE CAPITAL CORPORATION
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except per share data)
     
      For the Quarters Ended   For the Years Ended
      December 31,
    2024    		   September 30,
    2024    		   December 31,
    2024    		   December 31,
    2023
      (unaudited)   (audited)
    Investment income:              
    Non-controlled/non-affiliate company investments:              
    Interest income $ 8,576     $ 10,408     $ 40,787     $ 46,241  
    Payment-in-kind interest income   1,379       919       3,877       3,070  
    Dividend income   237       114       472       305  
    Other income   310       694       1,306       (679 )
    Total investment income from non-controlled/non-affiliate company investments   10,502       12,135       46,442       48,937  
    Non-controlled affiliate company investments:              
    Interest income   1,300       1,202       4,963       5,140  
    Payment-in-kind interest income   1,247       1,402       5,284       6,337  
    Dividend income   56       56       220       283  
    Other income   18       —       18       —  
    Total investment income from non-controlled affiliate company investments   2,621       2,660       10,485       11,760  
    Controlled affiliate company investments:              
    Dividend income   900       900       3,600       3,600  
    Total investment income from controlled affiliate company investments   900       900       3,600       3,600  
    Total investment income   14,023       15,695       60,527       64,297  
    Operating expenses:              
    Interest and other debt financing expenses   5,113       5,517       21,917       22,847  
    Base management fees   1,965       2,006       8,056       8,603  
    Incentive fees   —       730       2,449       5,812  
    Professional fees   196       239       902       719  
    Administrative service fees   282       270       1,011       940  
    General and administrative expenses   233       270       964       1,174  
    Directors’ fees   49       46       244       147  
    Total operating expenses   7,838       9,078       35,543       40,242  
    Net investment income before income taxes   6,185       6,617       24,984       24,055  
    Income taxes, including excise taxes   163       136       452       806  
    Net investment income   6,022       6,481       24,532       23,249  
    Net gain (loss):              
    Net realized gain (loss):              
    Non-controlled/non-affiliate company investments   283       638       1,431       (38,769 )
    Foreign currency forward contracts   —       —       —       1,756  
    Foreign currency and other transactions   —       —       —       (135 )
    Net realized gain (loss)   283       638       1,431       (37,148 )
    Net change in unrealized gain (loss):              
    Non-controlled/non-affiliate company investments   (1,139 )     (2,743 )     (8,211 )     22,154  
    Non-controlled affiliate company investments   (6,694 )     771       (7,656 )     (3,990 )
    Controlled affiliate company investments   (167 )     (201 )     (392 )     (2,387 )
    Foreign currency forward contracts   —       —       —       (1,507 )
    Foreign currency and other transactions   (20 )     20       —       —  
    Net change in unrealized gain (loss)   (8,020 )     (2,153 )     (16,259 )     14,270  
    Net gain (loss)   (7,737 )     (1,515 )     (14,828 )     (22,878 )
    Net increase (decrease) in net assets resulting from operations $ (1,715 )   $ 4,966     $ 9,704     $ 371  
    Per common share data:              
    Net investment income per share – basic and diluted $ 0.28     $ 0.30     $ 1.13     $ 1.07  
    Net increase (decrease) in net assets resulting from operations per share – basic and diluted $ (0.08 )   $ 0.23     $ 0.45     $ 0.02  
    Weighted average common shares outstanding – basic and diluted   21,666       21,666       21,666       21,666  
                                   

    Additional Supplemental Information:

    The composition of the Company’s investment income was as follows (in thousands):

      For the Quarters Ended
    		   For the Years Ended
      December 31,
    2024    		   September 30,
    2024
    		   December 31,
    2024    		   December 31,
    2023
      (unaudited)   (audited)
    Interest income $ 9,468     $ 11,303     $ 44,283     $ 49,779  
    Payment-in-kind interest income   2,626       2,321       9,161       9,407  
    Dividend income   1,193       1,070       4,292       4,188  
    Other income   328       694       1,324       (679 )
    Prepayment gain (loss)   173       109       532       553  
    Accretion of discounts and amortization of premiums   235       198       935       1,049  
    Total investment income $ 14,023     $ 15,695     $ 60,527     $ 64,297  
                                   

    The composition of the Company’s interest expense and other debt financing expenses was as follows (in thousands):

      For the Quarters Ended   For the Years Ended
      December 31,
    2024    		   September 30,
    2024    		   December 31,
    2024    		   December 31,
    2023
      (unaudited)   (audited)
    Interest expense – revolving credit facility $ 3,227     $ 3,630     $ 14,380     $ 15,319  
    Interest expense – 2026 Notes   1,555       1,555       6,220       6,220  
    Amortization of debt issuance costs   331       332       1,317       1,308  
    Total interest and other debt financing expenses $ 5,113     $ 5,517     $ 21,917     $ 22,847  
                                   

    About Monroe Capital Corporation

    Monroe Capital Corporation is a publicly-traded specialty finance company that principally invests in senior, unitranche and junior secured debt and, to a lesser extent, unsecured debt and equity investments in middle-market companies. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation. The Company’s investment activities are managed by its investment adviser, Monroe Capital BDC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended, and an affiliate of Monroe Capital LLC. To learn more about Monroe Capital Corporation, visit www.monroebdc.com.

    About Monroe Capital LLC

    Monroe Capital LLC (including its subsidiaries and affiliates, together “Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains 11 offices throughout the United States, Asia and Australia.

    Monroe has been recognized by both its peers and investors with various awards including Inc’s 2024 Founder-Friendly Investors List; Private Debt Investor as the 2023 Lower Mid-Market Lender of the Decade, 2023 Lower Mid-Market Lender of the Year, 2023 CLO Manager of the Year, Americas; Global M&A Network as the 2023 Lower Mid-Markets Lender of the Year, U.S.A.; DealCatalyst as the 2022 Best CLO Manager of the Year; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com.

    Forward-Looking Statements

    This press release may contain certain forward-looking statements. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company’s control, and that the Company may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future. Such statements speak only as of the time when made, and the Company undertakes no obligation to update any such statement now or in the future.

    SOURCE: Monroe Capital Corporation

    The MIL Network –

  • MIL-Evening Report: Schools agreement provides NSW $4.8 billion extra for public schools over a decade

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    The Albanese government has signed up New South Wales to its new schools funding agreement, with an extra A$4.8 billion in funding for the state’s public schools over ten years.

    Queensland remains the only state still to join the agreement, which ties federal funding to schools to specific measures, such as phonics checks and teacher training. The federal government is working hard to finalise a deal with that state before going into caretaker mode for the election.

    The federal government has been negotiating with states and territories over a new schools funding deal for more than 12 months.

    NSW has been among states asking for a 5% increase in funds, while the federal government was initially only offering 2.5%. In January 2025, Victoria and South Australia successfully negotiated for a 5% increase from the federal government, leaving NSW and Queensland as the only two states without a deal ahead of a new school year.

    The Commonwealth and NSW governments said in a statement that under the NSW deal, the federal government will provide an extra 5% of the Schooling Resource Standard (SRS).

    This would lift the federal contribution from 20% to 25% of the SRS by 2034. It follows the NSW government delivering an election commitment to reach 75% of the SRS by 2025.

    The 2011 Gonski review recommended all schools receive a minimum level of funding, called the SRS, with additional funds based on need. In 2025 the estimated SRS amounts are $13,977 for primary school students and $17,565 for secondary school students.

    Under the new national agreement all states would reach the full SRS funding in a decade, although at different paces. A lot of the fine print has still to be negotiated.

    NSW has committed to removing the 4% provision of indirect school costs such as capital depreciation, so NSW schools would be fully funded over the life of the agreement.

    This national agreement ties the funding to teaching and other reforms. These include more individualised support for students, continuing evidence-based teaching practices, and more mental health and wellbeing support for schools.

    The two governments said: “This is not a blank cheque. The agreement will be accompanied by a NSW Bilateral Agreement, which ties funding to reforms that will help students catch up, keep up and finish school”.

    These include

    • Year 1 phonics and early years of schooling numeracy checks to identify those needing more help

    • evidence-based teaching and targeted and intensive supports such as small-group or catch-up tutoring

    • wellbeing initiatives, including greater access to mental health professionals

    • access to high-quality and evidence-based professional learning, and

    • initiatives to attract and retain teachers.

    The federal-state agreements incorporate national targets. These include improving NAPLAN reading and numeracy proficiency; increasing NAPLAN outcomes for priority equity cohorts; boosting student attendance; increasing the engagement rate of teacher education students, and raising the proportion of students successfully completing year 12.

    Prime Minister Anthony Albanese said “every dollar of this funding will go into helping children learn”.

    Federal Education Minister Jason Clare said: “This will help more than 780,000 kids in more than 2,200 public schools. This is real funding tied to real reforms to help students catch up, keep up and finish school.”

    Premier Chris Minns said: “We’ve seen a 40% reduction in teacher vacancies since we came to government, but we know there’s still more to do. This investment is vital as we work to lift education standards across the state by ensuring there is a qualified, dedicated teacher at the front of the classroom.”

    The Coalition has been critical of the time it has taken for the Albanese government to finalise the funding deal.

    In January, opposition education spokeswoman Sarah Henderson said Clare had “failed to get the job done”. She noted students in NSW and Queensland “continue to pay the price”.

    Michelle Grattan 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. Schools agreement provides NSW $4.8 billion extra for public schools over a decade – https://theconversation.com/schools-agreement-provides-nsw-4-8-billion-extra-for-public-schools-over-a-decade-251255

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Beginning of the end for the ‘feudal’ leasehold system

    Source: United Kingdom – Executive Government & Departments

    Press release

    Beginning of the end for the ‘feudal’ leasehold system

    The government has published the Commonhold White Paper today.

    • Commonhold, a radical improvement on leasehold ownership, will be reinvigorated under major reforms
    • New leasehold flats to be banned as the government takes steps to honour its manifesto commitment to ensure commonhold becomes the default tenure
    • Major change will give homeowners a stake in the ownership of their buildings and will hand them more power, control and security over their homes.
    • Change will ensure flat owners are not second-class homeowners and that the unfair feudal leasehold system is brought to an end, building on the Plan for Change ambition to drive up living standards

    Homeowners will have a stake in the ownership of their buildings from day one, not have to pay ground rent, and will gain control over how their buildings are run under major plans to bring the feudal leasehold system to an end. 

    Plans to reinvigorate commonhold and make it the default tenure have been announced today. Unlike leasehold ownership where third-party landlords own buildings and make decisions on behalf of homeowners, these changes will empower hard working homeowners to have an ownership stake in their buildings from the outset and will give them greater control over how their home is managed and the bills they pay. 

    Supporting delivery of a manifesto commitment – these reforms mark the beginning of the end for the feudal leasehold system. The changes complement the Plan for Change milestone to build 1.5 million homes, combatting the acute and entrenched housing crisis by making homeownership fit for the future, by putting people in control of the money they spend on their home. 

    Commonhold-type models are used all over the world. The autonomy and control that it provides for are taken for granted in many other countries. It can and does work and the government is determined, through both new commonhold developments and by making conversion to commonhold easier, to see it take root – so millions of existing leaseholders can also benefit from this step change in rights and security.

    Housing and Planning Minister Matthew Pennycook said:

    “This government promised not only to provide immediate relief to leaseholders suffering now but to do what is necessary to bring the feudal leasehold system to an end – and that is precisely what we are doing. 

    “By taking decisive steps to reinvigorate commonhold and make it the default tenure, we will ensure that it is homeowners, not third-party landlords, who will own the buildings they live in and have a greater say in how their home is managed and the bills they pay.

    “These reforms mark the beginning of the end for a system that has seen millions of homeowners subject to unfair practices and unreasonable costs at the hands of their landlords and build on our Plan for Change commitments to drive up living standards and create a housing system fit for the twenty-first century.”

    Following the introduction of a comprehensive new legal framework for commonhold, new leasehold flats will be banned, and in the meantime the government will continue to implement reforms to help millions of leaseholders who are currently suffering from unfair and unreasonable practices at the hands of unscrupulous freeholders and managing agents.  

    The government has already empowered leaseholders with more rights and security – enabling them to buy their freehold or extend their lease without having to wait two years from the point they purchased their property, and overhauling the right to manage – putting more leaseholders in the driving seat of the management of their property and service charges. 

    Progress will be made as quickly as possible to make it cheaper and easier for leaseholders to buy their freehold or extend their lease, and to make it easier for leaseholders to challenge unreasonable service charge increases.

    Changes set out in the Commonhold White paper include:

    • New rules that will enable commonhold to work for all types of developments, including mixed-use buildings and allowing shared ownership homes within a commonhold.   
    • Greater flexibility over development rights, helping developers build with confidence and maintaining safeguards for the consumer.   
    • Giving mortgage lenders greater assurance with new measures to protect their stake in buildings and protect the solvency of commonholds – such as mandatory public liability insurance and reserve funds and greater oversight by commonhold unit owners to keep costs affordable.   
    • Strengthening the management of commonholds, with new rules around appointing directors, clear standards for repairs, and mandating use of reserve funds; and  
    • Providing an enhanced offer for homeowners – including requiring greater opportunities for democracy in agreeing the annual budget, clarifying how owners may change “local rules” over how a building is run and new protections for when things go wrong.

    A new Code of Practice will set out how costs should be apportioned in commonhold, aimed at providing consumers with transparency and clarity, and the Government is committed to strengthening regulation of managing agents. The government will also launch a consultation to ban new leasehold flats later this year to explore the best way forward. 

    An ambitious draft Leasehold and Commonhold Reform Bill will be published later this year setting out the legal framework for how reformed commonhold will work.

    Further information

    Under the current system, leasehold ownership hands the homeowner the right to occupy land or a property for a set period which reverts back to the freeholder once this expires. It means leaseholders don’t own their property outright, are forced to pay potentially escalating ground rent costs in some cases, and have a landlord who determines how the building is run and determines service charges the leaseholder must pay.  

    Commonhold ownership allows people to fully own their property outright, with no expiring term or need to save to extend a lease. They can have a say in managing their building, and have the benefit of not needing to pay ground rent or have a third party landlord. There are no leases, with the rights, responsibilities and rules for all property owners set out in the Commonhold Community Statement (CCS). This “rulebook” establishes how the shared areas and facilities will be managed, maintained and funded, as well as the obligations for each person. It establishes a democratic system of decision-making and helps prevent disputes.  

    Each property owner will become part of a commonhold association upon buying their home, which oversees both the governance and management of the building unless it decides to bring in a managing agent – which will be accountable to the commonholders, not to a landlord, including the power to hire and fire them.   

    Through the commonhold association, homeowners will have a vote on the annual budget, which is for upkeep and for maintenance of the building, and on the charges they have to pay – equivalent to what service charges are used for under the current leasehold system. Homeowners will also be able to effectively plan for longer-term repairs or maintenance under commonhold, and vote on issues that affect them including adopting ‘local rules’ – specific to how they and their neighbours in the same block of flats want to live.   

    The government is pushing forward the majority of the Law Commission’s recommendations due to the benefits of this tenure over leasehold.  Initially introduced in England and Wales in 2002, commonhold has struggled to take off due to flaws in its legal framework, despite its success in Europe, New Zealand, Australia, the US and other parts of the world.

    Key differences between commonhold and leasehold:

    • Commonhold offers full freehold ownership – real homeownership – unlike leasehold, whereby a property is leased out for a set amount of time before reverting back to the landlord and homeowners have a lack of control over their building.  
    • Commonhold allows homeowners a say on the annual budget for their building – including how their charges for upkeep and maintenance are spent – unlike leasehold, where a bill is usually imposed on leaseholders by landlords often even after the money has been spent.  
    • There is no ground rent in a commonhold property, compared to older leasehold properties. The ground rent requirement for newer properties was removed in 2022 (2023 for retirement properties) through the Leasehold Reform (Ground Rent) Act 2022.   
    • Forfeiture is not possible under commonhold, meaning a unit owner cannot be threatened with losing their home and equity as they can in leasehold. The government will also address the disproportionate and draconian threat of forfeiture as a means of compliance with a lease agreement.    
    • Commonholders have the power to hire or fire a managing agent who works in their interests, unlike in leasehold where one is appointed by the landlord.

    Updates to this page

    Published 3 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: What they are saying: Governor Newsom’s latest economic investments will help bolster LA firestorm recovery

    Source: US State of California 2

    Feb 28, 2025

    What you need to know: Local community leaders are praising Governor Newsom’s announcement this week of new financial investments to help boost LA’s economic recovery, as well as the launch of California’s Economic Blueprint and the Los Angeles County Jobs First Regional Plan.

    LOS ANGELES – This week, Governor Newsom announced $24 million in investments towards the economic recovery of Los Angeles following January’s devastating firestorms. The announcement came during the seventh stop of the Governor’s statewide Jobs First tour, where the Governor received the Los Angeles Regional Plan — a community-driven strategy to leverage the innovation, social infrastructure, and LA-area industries — and debuted the statewide California Jobs First Economic Blueprint.

    Funds announced will strengthen infrastructure, and provide support for small business and workers in the LA region, including disaster response: 

    • $10 million in partnership with LA Rises, Maersk and APM Terminals to the LA Region Small Business Relief Fund, a grant program run by the City and County of LA that will provide direct financial support to businesses and nonprofits in fire-impacted communities. This is the first investment by LA Rises, the unified recovery effort launched by the Governor in January and led by Dodgers Chairman Mark Walter, business leader and basketball legend Earvin “Magic” Johnson, and Casey Wasserman.
    • $3 million toward the Los Angeles Jobs First Collaborative in their recovery efforts for the region, including for the launch of public-facing campaigns to promote small business support and additional capacity for near-term business and economic recovery. 
    • $11 million toward High Road Training Partnerships with workforce training organizations based in Los Angeles. 

    Here’s what leaders in the Los Angeles community are saying:

    State leaders 

    Senator Sasha Renée Pérez (D – Pasadena): “The Governor’s Jobs First Economic Blueprint will create good-paying jobs in regions across the state, and reduce barriers for students to access job opportunities through career education. In addition, the plan contains funding to help small businesses recover from the Los Angeles County wildfires that devastated the Altadena and Pasadena region in my district. The recovery will take ongoing support. This Blueprint is an important component that will help brighten our state’s future.”

    Assemblymember Mike Fong (D-Alhambra): “Cultivating one of the best economies in the world starts with our communities.  Governor Newsom’s economic plan is reflective of statewide and regional needs, while utilizing work-based learning opportunities in connection to the state’s upcoming Master Plan for Career Education. Our Los Angeles community was devastated by the fires in our region, and I look forward to working with the Governor on a recovery plan which draws on our higher education institutions to rebuild and strengthen our local and statewide economies.”

    Los Angeles County 

    Kathryn Barger, Los Angeles County Chair and Supervisor for the Fifth District: “I appreciate Governor Newsom‘s plan to invest in our local workforce. Our local economy will greatly benefit from investments that focus on local implementation as Los Angeles County recovers and rebuilds. Strengthening our workforce is key to long-term resilience, and I look forward to seeing these investments create lasting opportunities for our residents.”

    Hilda L. Solis, Los Angeles County Chair Pro Tem and Supervisor for the First District: “Across Los Angeles County, residents have been experiencing job loss by the wildfires in Pacific Palisades and Altadena, including nannies, in-home health workers, landscapers, actors, stagehands, and many others who work in these areas. This week’s announcement, which includes $10 million in funding to the LA Regional Small Business Fund, will be crucial in accelerating economic recovery and providing relief to our impacted families. I am deeply grateful to the Governor for his demonstrated commitment to our relief efforts and look forward to continuing to implement California Jobs First locally. Together, we will ensure an equitable recovery for all Angelenos.”

    Lindsey Horvath, Los Angeles County Supervisor for the Third District: “More support is on the way for small businesses and workers impacted by the Palisades and Eaton fires thanks to this $10 million investment from Governor Newsom that will bolster LA County’s Small Business and Worker Relief Funds. Los Angeles County and our State partners, with support from philanthropy, are marshalling unprecedented financial resources to help fire-affected communities fill gaps in monthly expenses and heal. We thank Governor Newsom for his continued support.”

    City leaders

    Karen Bass, Mayor of Los Angeles: “Thank you Governor Newsom, for your continued support through LA’s unprecedented recovery. As we make urgent progress months faster than expected to get residents back home, we also need to ensure that small businesses have the support they need and deserve while navigating through this devastating time. Together, we will get residents home as quickly and as safely as possible, and we will give the Los Angeles workforce the support they deserve. We are grateful for your partnership as we continue our urgent recovery work.”

    Vinh T. Ngo, Mayor of Monterey Park: “We are very excited to see the new economic jobs plan laid out by Governor Newsom that will have direct benefit not just the wildfire impacted areas but all of California. I’m proud that the Governor chose the City of Monterey Park to make this critical announcement this week.”  

    Victoria Knapp, Chair of the Altadena Town Council: “As Chair of the Altadena Town Council, I want to express our deep gratitude to Governor Newsom for his leadership and steadfast commitment to the region since the early days of this disaster. His administration’s continued support has been a lifeline for our communities as we navigate the long road to recovery. This much-needed infusion of aid will be critical in helping our small businesses rebuild, creating new job opportunities, and ensuring our local workforce has access to the training needed to thrive in high-growth industries. With this investment, we are not just restoring what was lost—we are building a more resilient and prosperous future for Altadena and the entire Los Angeles region.”

    Business Leaders 

    Stephen Cheung, President and CEO of the Los Angeles County Economic Development Corporation: “We applaud Governor Newsom and the State of California for their leadership in supporting Los Angeles County’s economic recovery. The $3 million investment in the California Jobs First initiative will strengthen our efforts to create quality jobs and economic opportunities for local communities, especially those most impacted by economic challenges. Additionally, the $10 million in small business relief funding will provide critical support to the backbone of our economy—our small businesses—helping them rebuild, innovate, and thrive. LAEDC is committed to working with our partners across the region to ensure these investments drive inclusive and sustainable economic growth for all Angelenos.”

    Maria Salinas, President and CEO of the LA Area Chamber of Commerce: “Governor Newsom’s announcement marks an exciting step forward in realizing California Jobs First—turning a bold vision into local impact. By investing in key industry sectors and aligning workforce development with economic priorities, this initiative will create accessible, good-paying jobs and drive sustainable growth across our communities. We are proud of the vision set forth in this economic blueprint and the additional investment to help Los Angeles recover and rebuild. This ensures our region continues to lead in innovation, opportunity, and economic resilience.”

    Tracy Hernandez, CEO of BizFed & New California Coalition: “Governor Newsom took talk to action this week delivering much needed real time funding to super charge the LA firestorm rebuilding process and accelerate the vital long term economic resiliency of our state.”

    Alysia Bell, President of UNITE-LA: “Governor Newsom’s leadership drives California’s progress and elevates the triple bottom line: economy, equity, and environment. UNITE-LA, a nonprofit intermediary committed to equitable economic mobility, applauds the state’s continued investment in innovation and regional collaboration, essential for Los Angeles’ wildfire recovery.”

    Judy Matthews, President of the Altadena Chamber of Commerce: “As President of the Altadena Chamber of Commerce, I want to express my strong support for Governor Newsom’s announcement of the California Jobs First Economic Blueprint and its potential impact on Southern California. The focus on job apprenticeship programs and support for small businesses including home-base affected by the fires will generate significant employment opportunities and drive economic growth in our Altadena community. By investing in workforce development and entrepreneurship, these initiatives will create a more resilient economy and attract investments that will revitalize our community and strengthen our local economy.”

    Read more about California’s response to the LA firestorms and support to help speed the recovery and rebuilding of Los Angeles here. For the latest information, resources, and services, visit ca.gov/LAfires. 

    Press Releases, Recent News

    Recent news

    Feb 28, 2025

    News SACRAMENTO – Governor Gavin Newsom today announced the appointment of Nani Coloretti as his new Cabinet Secretary and expressed deep gratitude to departing Cabinet Secretary Ann Patterson for her six years of exemplary service. Patterson, who had planned to step…

    Feb 27, 2025

    News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Aaron Maguire, of Roseville, has been appointed Executive Officer of the Board of State and Community Corrections, where he has been Acting Executive Officer at the Board of State and…

    Feb 27, 2025

    News SACRAMENTO – California and a consortium of 21 Brazilian states are partnering together to combat pollution and foster sustainable economic growth. Governor Gavin Newsom and Governor Renato Casagrande of the Brazilian state of Espírito Santo signed a Memorandum…

    MIL OSI USA News –

  • MIL-OSI Economics: Trade and Gender Group launches new edition of equality prize, consultations on future work

    Source: WTO

    Headline: Trade and Gender Group launches new edition of equality prize, consultations on future work

    The co-chairs of the Informal Working Group (IWG) — Ambassador Clara Delgado of Cabo Verde, Ambassador Patricia Benedetti of El Salvador and Ambassador Simon Manley of the United Kingdom — looked back at key achievements in 2024. They highlighted the specific wording on trade and gender in the Abu Dhabi Ministerial Declaration WT/MIN(24)/DEC, the launch of a new trade policy tool in support of women entrepreneurs’ financial inclusion, and progress on “sharing experiences” on gender-responsive trade policy making.
    Progress was also made in integrating gender issues into the work of various WTO bodies, such as the Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs), they added. 
    Members welcomed the co-chairs’ initiative to launch consultations on the IWG’s work plan for 2025-26, including on potential outcomes at the 14th Ministerial Conference, to be held in March 2026.
    Members also agreed to launch the second edition of the International Prize for Gender Equality in Trade to support members’ work on inclusive trade. The call for applications is now open via this form.
    Presentations
    The United Kingdom presented its work on the implementation of gender equality in free trade agreements (FTAs), including the UK-New Zealand FTA and the UK-Japan Comprehensive Economic Partnership Agreement.
    The importance of mainstreaming gender across trade agreements was highlighted. In addition, cooperation provisions are key for collecting gender-disaggregated data and for monitoring the impact of trade agreements on women, the UK said. The United Kingdom also noted that it is crucial to secure an institutional mechanism for discussing and implementing cooperation activities with stakeholders such as trade associations and women entrepreneurs. 
    Australia introduced its recently launched “International Gender Equality Strategy for a Safer and More Prosperous Indo-Pacific and the World”. Developed following consultations with over 600 stakeholders, the strategy aims to support gender equality in trade commitments at the WTO and other international and regional organizations
    Mexico reported on a recent capacity-building workshop on trade and gender organized by the countries of the Global Trade and Gender Arrangement (GTAGA) in coordination with the WTO Secretariat. Bringing together experts, government representatives, academics and women entrepreneurs, the event looked into the challenges and opportunities in mainstreaming gender into global trade.
    The International Trade Centre (ITC) provided an update on the Women Exporters in the Digital Economy (WEIDE) Fund, launched at MC13. This WTO-ITC initiative will provide grants and technical assistance regarding digital trade to support export growth in women-led businesses. Following a call for applications in September 2024, the Fund will work with a number of business support organizations to be announced  in early March.
    The WTO Secretariat provided an update on its activities, highlighting training programmes, collaborative research projects, and outreach initiatives. The Secretariat emphasized progress in capacity-building initiatives with the Latin American Integration Association, the Food and Agriculture Organization of the United Nations (FAO), and various universities. A thematic course on trade, gender and agriculture will be launched with the FAO in 2025 as a follow-up to the WTO-FAO Memorandum of Understanding signed  in 2024.
    The Trade and Gender Office also underlined its collaboration with the Secretariat of the Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW) on drafting a recommendation (General Recommendation number 40) on women’s access to decision-making positions and its ongoing work.

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    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Applications open for 2025 Hong Kong Youth Music Camp

    Source: Hong Kong Government special administrative region

    Applications open for 2025 Hong Kong Youth Music Camp
    Applications open for 2025 Hong Kong Youth Music Camp
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         The 2025 Hong Kong Youth Music Camp, organised by the Music Office of the Leisure and Cultural Services Department, will be held between July and August to offer training for young musicians and choir members by highly acclaimed musicians. Participants can also join the in-camp music masterclasses and workshops. The music camps are categorised into residential and non-residential groups. Applications are open today (March 3), and qualified youths aged between 8 and 25 are welcome to join.      Camp A provides in-camp residential training at the Sai Kung Outdoor Recreation Centre for music groups of Chinese Orchestra, Symphony Orchestra and Children’s Choir from July 28 to August 2. Camp fees for local campers and non-local campers are $2,100 and $3,100 respectively. Camp conductors are the Concertmaster and Resident Conductor of Chinese Orchestra of Xi’an Conservatory of Music, Gao Wei; the Music Director of the Northwest Symphony Orchestra, Dr Anthony Spain; and Professor in Choral Conducting and Head of the Conducting Department at Bulgarian National Academy of Music, Professor Theodora Pavlovitch.       Camp B provides non-residential training at designated music centres of the Music Office for groups of Junior Chinese Orchestra, Junior String Orchestra and Junior Symphonic Band from August 4 to 9. The camp fee for both local and non-local campers is $1,100. Assistant Conductor of the Wuxi Chinese Orchestra Guo Pan, internationally acclaimed cello virtuoso and music educator Chu Yi-bing, and former Head of Open Conservatorium at the Queensland Conservatorium of Griffith University Dr Ralph Hultgren will be the camp conductors.      Participants in the music camps will perform at the concert halls of the Hong Kong Cultural Centre on August 3, and Hong Kong City Hall on August 10 respectively to showcase the achievements of their training. Tickets of the concerts will be available at URBTIX (www.urbtix.hk) from May 16.      For information on applicants’ eligibility and application details, please visit the Music Office’s website (www.lcsd.gov.hk/musicoffice). The application deadline is March 28. For enquiries, please call 3842 7773, 2598 0801 or 3842 7775.

     
    Ends/Monday, March 3, 2025Issued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CDS Gen Anil Chauhan embarks on an official visit to Australia

    Source: Government of India (2)

    Posted On: 03 MAR 2025 8:29AM by PIB Delhi

          Chief of Defence Staff (CDS) Gen Anil Chauhan will embark on an official visit to Australia from 04-07 March 2025, reflecting the deepening ties between India and Australia in the realm of defence cooperation. During his visit, he will engage in wide-ranging discussions with senior officials from the Australian Department of Defence and military leadership of Australian Defence Force, including  Australia’s Chief of Defence Force General Admiral David Johnston, their Secretary of Defence Mr Greg Moriarty and the Chiefs of the three Services.

            CDS will visit the Force Command Headquarters to gain insights into Australia’s operational command structure and discuss potential avenues for joint operations. General Chauhan will also interact with the Australian Fleet Commander and the Joint Operations Commander. In furtherance to India’s commitment to professional military training and education, the CDS is set to visit prestigious Australian Defence College where he will address senior officers on strategic challenges in the Indo-Pacific region. The CDS will also chair a round table discussion at the Lowy Institute, Australia’s premier think tank.

           This visit underscores the growing engagement between the two nations which share a commitment towards strengthening diplomatic and military collaboration under Comprehensive Strategic Partnership and fosters greater cooperation in the Indo-Pacific region.

    *****

    SR/Anand

    (Release ID: 2107630) Visitor Counter : 79

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 15th National Games Triathlon test event successfully concludes

    Source: Hong Kong Government special administrative region

    15th National Games Triathlon test event successfully concludes
    15th National Games Triathlon test event successfully concludes
    ***************************************************************

         The National Games Coordination Office (Hong Kong) (NGCO) said today (March 2) that the 15th National Games (NG) Triathlon test event staged at the Central Harbourfront and Victoria Harbour on March 1 and 2 concluded successfully.      A total of around 110 athletes from the Mainland, Macao, and Hong Kong participated in the two-day test event. Among them, 10 athletes (six males and four females), were from Hong Kong. The starting point of the races was located at the waterfront of the Wan Chai Temporary Promenade, while the finish line was set at the Central Harbourfront Event Space. The women’s individual and the men’s individual events were held on the first day and the winners were Ms Yang Yifan and Mr Zhang Xirui from Shandong triathlon team respectively. As for the first-ever mixed relay event in Hong Kong, Shandong team won the gold medal, while Liaoning team took the silver and Hong Kong team claimed the bronze.      The Head of the NGCO, Mr Yeung Tak-keung, said the race route this time has several characteristics, including that the end point was set at the Central Harbourfront Event Space for the first time while there were two transition areas, with one near the swimming area (swim-to-cycling transition) and another one at the Central Harbourfront Event Space (cycling-to-run transition); the athletes ran through a number of Hong Kong landmarks during the races, such as the Hong Kong Convention and Exhibition Centre, the Central Government Offices, the Legislative Council Complex, and the Hong Kong Observation Wheel; the cycling route was between Golden Bauhinia Square in Wan Chai and International Finance Centre in Central, with the backdrop of business district in Central and stunning scenery of Hong Kong’s Victoria Harbour; the cycling route passing through the Central Harbourfront Event Space raised the difficulty and made the event more enjoyable; and a spectator stand with seats was arranged at the Central Harbourfront Event Space to let audiences have a close sight of the races and witness the moments of crossing the line.      The test event was organised by the NGCO under the Culture, Sports and Tourism Bureau and co-organised by the Triathlon Association of Hong Kong China, with the China Triathlon Sports Association as an advisor. The test event covered a wide range of aspects, including operation and procedures of events, organisation of races, venue setup, information systems, security, medical services, accommodation, hospitality, food and beverage, transportation arrangements and contingency plans.      Mr Yeung said the NGCO will review the event procedures and other details with various related organisations and government departments after the test event, with a view to better preparing for the official events to be held at the end of this year.      For information on the 15th NG, the 12th National Games for Persons with Disabilities and the 9th National Special Olympic Games in Hong Kong, please visit the thematic website (www.2025nationalgames.gov.hk/en/index.html), as well as the Facebook page (www.facebook.com/2025nationalgames.hk) and Instagram page (www.instagram.com/2025nationalgames.hk).

     
    Ends/Sunday, March 2, 2025Issued at HKT 21:10

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    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: 5G to drive APAC mobile services market during 2024-2029, forecasts GlobalData

    Source: GlobalData

    5G to drive APAC mobile services market during 2024-2029, forecasts GlobalData

    Posted in Technology

    The total mobile communications services revenue in the Asia-Pacific (APAC) region is expected to increase at a compound annual growth rate (CAGR) of 2.8% from $301.7 billion in 2024 to $346.1 billion in 2029, driven by continued rise in mobile subscriptions, as operators continue to roll out and expand their 5G networks, reveals GlobalData, a leading data and analytics company.

    GlobalData’s report, “Asia-Pacific (APAC) Mobile Broadband Market Trends and Opportunities, 2024 Update,” reveals that mobile data services will remain the largest revenue contributing segment to the overall mobile services market in the region over the forecast period, primarily driven by the expansion and increasing adoption of high-average revenue per user (ARPU) generating 5G services in the region.

    Srikanth Vaidya, Telecom Analyst at GlobalData, says: “With 5G services launched in almost all developed markets including Australia, China, Japan, Hong Kong, and South Korea, and set to be launched soon in countries like Bangladesh and Sri Lanka, the revenue prospects for mobile data services will remain strong through the forecast period.

    “Operators like Grameenphone, Robi and Teletalk in Bangladesh and Dialog and Mobitel in Sri Lanka, for instance, have conducted 5G network trails in major cities of their respective countries and are gearing up for 5G service roll outs in 2025.”

    Government support for 5G expansion will also strengthen the mobile data services market in the region. Telecom regulatory bodies and governing authorities in countries like Australia, China, India, South Korea, Japan, and Taiwan have launched national 5G strategies/action plans, outlining the vision and guidelines to establish 5G ecosystems and drive 5G coverage expansions. These action plans include supporting initiatives such as public sector investment in 5G applications, favorable tax incentives, forums for industry-government collaboration, promotion of 5G led-technological innovations, and license arrangements to enhance spectrum use and reuse.

    China will remain the largest 5G market in the world through the forecast period with 90% of its mobile subscriptions to be on 5G network by 2029, primarily driven by the telco investments and the regulator’s efforts to expand 5G service coverage to rural areas and industrial parks, and boost 5G adoption. For instance, the Ministry of Industry and Information Technology (MIIT) reported that in 2024, China had deployed 4.19 million 5G base stations, and expected to increase to 4.5 million by end of 2025, further enhancing its network capacity and reach.

    Vaidya continues: “The average monthly data usage (excluding voice-only subscriptions) in the region is forecast to increase from 25.1GB in 2024 to 48.6GB in 2029, receiving a significant boost from 5G service launches and expansions across markets. Growing consumption of online video and social media content over smartphones, on the back of data-centric service plans offered by MNOs, will also drive the growth in mobile data usage levels through the forecast period.”

    APAC has become the center of the technological race for 5G+ supremacy. South Korea, Japan, and China have gone beyond just the deployment of 5G, to the development of the wider 5G ecosystem, thereby supporting the manufacturing and IT industries in these countries and driving IoT/M2M opportunities.

    Vaidya concludes: “While mobile data segment will continue with the growth trajectory, mobile voice service revenue will decline at a CAGR of 5.7% over the forecast period, as consumers continue to migrate towards OTT/internet-based communication services.”

    MIL OSI Economics –