NewzIntel.com

Category: Banking

  • MIL-OSI: RYVYL Secures Major Payments-as-a-Service Contracts, Set to Onboard Nearly One Million New Accounts in the next 12 Months

    Source: GlobeNewswire (MIL-OSI)

    First contract has onboarded over 1,000 accounts with 50,000+ more accounts expected in 2025

    Second contract to onboard over 900,000 accounts over a 12-month period beginning Q2 2025

    These new contracts reinforce 2025 revenue outlook of $80 million to $90 million

    SAN DIEGO, CA, March 20, 2025 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading provider of cutting-edge payment solutions, announced that its subsidiary RYVYL EU has secured two Payments-as-a-Service (PaaS) contracts, which are expected to onboard nearly one million new accounts over the next 12 months. These agreements significantly expand RYVYL’s footprint in Europe and strengthen its long-term growth trajectory.

    Fredi Nisan, CEO of RYVYL, said: “Following the successful launch of our first digital Payments-as-a-Service (PaaS) contract, we have now secured a second, larger partnership with a fully digital bank serving tens of millions of customers across 180 countries. With over 80% of its transactions involving cross-border payments, this partner chose RYVYL PaaS for our extensive presence in Europe and North America, robust security infrastructure, and seamless multi-currency settlement capabilities.”

    “These agreements further validate our ability to serve high-growth financial platforms and support their global expansion. Our advanced payment solutions provide seamless onboarding, compliance expertise, and the operational scale required to power modern digital banking ecosystems.”

    • The first contract, with a leading international money service provider, offers both virtual and physical payment cards managed through RYVYL’s payments platform and mobile app. RYVYL has already successfully onboarded 1,000 client accounts, with over 50,000 more accounts expected in 2025.
    • The second contract, with one of the world’s largest fully digital banking platforms, is projected to onboard 900,000 new customer accounts over a 12-month period, starting in Q2 2025. API integrations and testing have already started, and initial onboarding is set to begin in the coming months.

    “These contracts reinforce our 2025 revenue guidance of $80 million to $90 million and are also expected to contribute operational efficiencies and increasing gross margin that will drive positive annual adjusted EBITDA and positive operating cash flow in the second half of 2025,” added Nisan.

    The foregoing guidance is based on the Company’s continuation of the business, as currently conducted. On January 24, 2025, the Company entered into an agreement with a financing source that was structured as a pre-funded asset sale with a 90-day closing period, which ends on April 23, 2025 and may be extended an additional 30 days to May 23, 2025, if the Company pays $500,000 for such extension. Shares in the Company’s RYVYL EU subsidiary were placed in escrow during the closing period. Although there are no guarantees, the Company intends to terminate the asset sale within the closing period by paying $16.5 million in consideration of such termination. The Company’s financial guidance for 2025 is based on fully retaining its RYVYL EU subsidiary.

    About RYVYL

    RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. www.ryvyl.com

    Cautionary Note Regarding Forward-Looking Statements

    This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current beliefs, assumptions, and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements regarding timely payment of the second tranche, the benefit to stockholders from the repayment of the Note and repurchase of the Preferred Stock, and the timing and expectation of revenues from the license described herein and are charactered by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements, including the risk that the licensee understands and complies with various banking laws and regulations that may impact the licensee’s ability to process transactions. For example, federal money laundering statutes and Bank Secrecy Act regulations discourage financial institutions from working with operators of certain industries – particularly industries with heightened cash reporting obligations and restrictions – as a result of which, banks may refuse to process certain payments and/or require onerous reporting obligations by payment processors to avoid compliance risk. These statements are also subject to any damages the Company could suffer as the result of previously announced litigation or actions of any governmental agencies. These and other risk factors affecting the Company are discussed in detail in the Company’s periodic filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether because of the latest information, future events or otherwise, except to the extent required by applicable laws.

    Disclaimer Regarding Financial Information

    The financial information presented in this press release, for the year ended December 31, 2024, is based on preliminary financial statements prepared by management, for the year ended December 31, 2024. Accordingly, such financial information may be subject to change. All such information contained in this press release will be qualified with reference to the audited financial results for the year ended December 31, 2024, which the Company intends to release on or before March 27, 2025, and in any event by March 31, 2025, and will be posted on www.sec.gov. While the Company does not expect there to be any material changes to the financial information provided in this press release, any variation between the Company’s actual results and the preliminary financial information set forth herein may be material.

    IR Contact:
    David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com

    The MIL Network –

  • MIL-OSI: OTC Markets Group Welcomes QNB Corp. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 20, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced QNB Corp. (OTCQX: QNBC), the holding company for QNB Bank, has qualified to trade on the OTCQX® Best Market. QNB Corp. upgraded to OTCQX from the Pink® market.

    QNB Corp. begins trading today on OTCQX under the symbol “QNBC.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Graduating to the OTCQX Market marks an important milestone for community banks in the U.S. public markets. The OTCQX Market enables banks to maximize the value of being a public company by providing transparent trading and easy access to company information for shareholders. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

    David W. Freeman, QNB Corp. Officer, and QNB Bank President and CEO, stated, “As we approach our 150-year anniversary of providing exceptional Community Banking services in Pennsylvania, QNB Corp. is pleased to bring our incredible story to the national OTCQX trading stage. We are confident this move will assist in generating broad investor interest and enhance value for all shareholders.”

    Janney Montgomery acted as the company’s corporate broker.

    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, Montgomery and Lehigh Counties and offers commercial and retail banking services in the communities it serves.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI Banking: Airbus Canada déploie le carburant d’aviation durable permettant 100 % de la capacité SAF dans tous les centres de livraison du monde

    Source: Airbus

    Headline: Airbus Canada déploie le carburant d’aviation durable permettant 100 % de la capacité SAF dans tous les centres de livraison du monde

    La première livraison de carburant aviation durable (CAD ou SAF en anglais) a récemment eu lieu sur le site A220 d’Airbus Canada, permettant aux équipes de Mirabel d’utiliser le SAF pour les vols de production, d’acceptation par les clients et d’essai.

    MIL OSI Global Banks –

  • MIL-OSI: Orezone Gold Reports Record Revenue and Net Income for 2024

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 20, 2025 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Orezone” or “Company”) is pleased to report its operational and financial results for the fourth quarter and full year ended December 31, 2024, and its 2025 guidance.   All dollar amounts are in USD unless otherwise indicated and abbreviation “M” means million.

    Highlights

    • Q4-2024 gold production of 36,502 oz, a 37% increase from the previous quarter.  
    • 2024 gold production of 118,746 oz, exceeding the mid-point of guidance.
    • AISC per oz sold of $1,273 for Q4-2024 and $1,447 for 2024.
    • Record revenue of $283.5M from the sale of 118,697 gold oz at an average realized price of $2,384 per oz in 2024. Gold sales remain unhedged to rising gold prices.
    • 2024 Adjusted EBITDA of $117.2M, Net Income attributable to Orezone shareholders of $55.7M and Earnings per Share attributable to Orezone shareholders of $0.14 and $0.13 on a basic and diluted basis, respectively.
    • Liquidity of $103.2M at year-end with cash of $74.0M and undrawn debt of $29.2M available to finance 2025 growth plans.
    • Stage 1 of hard rock expansion progress continues with first gold on track for Q4-2025.
    • Advancing work towards a secondary listing on the Australian Securities Exchange in mid-2025.

    Patrick Downey, President and CEO, commented “Strong Q4-2024 gold production of 36,502 oz helped deliver another record year for revenue of $283.5 million and net income of $64.1 million while meeting annual production guidance for a second consecutive year. Importantly, Orezone commenced construction of its hard rock expansion in the second half of 2024, a main step towards sustained production growth and setting the foundation for a transformational 2025 where we expect to pour first gold on this brownfield expansion in Q4-2025. First stage of the hard rock expansion is expected to increase the Company’s annual gold production to 170,000 – 185,000 oz in 2026.

    With continued strong gold prices and the closing of recent financings, the Company is well-placed to make further strategic investments in its Bomboré Mine by undertaking additional discovery-focused exploration on high potential targets and evaluating an accelerated start to the second stage of the hard rock expansion which would further increase annual gold production to 220,000 – 250,000 oz.

    The accomplishments achieved in 2024 is a testament to the strength of our team underpinned by the support of our community and government partners, and new and existing shareholders. We remain steadfast in our goal of creating lasting value for all stakeholders.”

    Highlights for Fourth Quarter and Year Ended December 31, 2024 and Significant Subsequent Events

    (All mine site figures on a 100% basis)   Q4-2024 Q4-2023 FY2024 FY2023
    Operating Performance          
    Gold production oz 36,502 33,916 118,746 141,425
    Gold sales oz 34,833 33,782 118,697 139,696
    Average realized gold price $/oz 2,632 1,986 2,384 1,940
    Cash costs per gold ounce sold1 $/oz 1,077 1,083 1,233 972
    All-in sustaining costs1 (“AISC”) per gold ounce sold $/oz 1,273 1,246 1,447 1,127
    Financial Performance          
    Revenue $000s 91,837 67,580 283,517 271,491
    Earnings from mine operations $000s 45,321 16,108 117,710 97,150
    Net income attributable to shareholders of Orezone1 $000s 30,091 4,012 55,711 43,146
    Net income per common share attributable to shareholders of Orezone          
    Basic $ 0.06 0.01 0.14 0.12
    Diluted $ 0.06 0.01 0.13 0.12
    EBITDA1 $000s 48,139 15,308 128,307 108,418
    Adjusted EBITDA1 $000s 45,058 26,702 117,233 120,036
    Adjusted earnings attributable to shareholders of Orezone1 $000s 27,550 14,267 45,977 53,665
    Adjusted earnings per share attributable to shareholders of Orezone1 $ 0.06 0.04 0.11 0.15
    Cash and Cash Flow Data          
    Operating cash flow before changes in working capital $000s 52,520 28,167 98,444 123,029
    Operating cash flow $000s 28,020 13,891 57,697 79,950
    Free cash flow1 $000s 12,543 682 11,725 36,172
    Cash, end of period $000s 74,021 19,483 74,021 19,483

    1 Cash costs, AISC, EBITDA, Adjusted EBITDA, Adjusted earnings, Adjusted earnings per share, and Free cash flow are non-IFRS measures. See “Non-IFRS Measures” section below for additional information.

    Full Year 2024 Highlights

    • Outstanding Safety Performance: 5.4M hours worked without a lost-time injury and a low total recordable injury frequency rate of 0.75.
    • Strong Liquidity: Available liquidity of $103.2M at year-end with $74.0M in cash and XOF 17.5 billion ($29.2M) available to be drawn on the Phase II debt facility with Coris Bank International (“Coris Bank”). The Company is well-funded to carry out its 2025 growth plans including the completion of stage 1 of the Phase II hard rock expansion and a minimum 20,000 m diamond drilling exploration program.    
    • Gold Production Guidance Achieved: Gold production of 118,746 oz which exceeded the mid-point of guidance, marking the second consecutive year that the Bomboré Mine has met production guidance since the start up of operations.
    • AISC Per Oz Within Updated Guidance: AISC per oz of $1,447 was within the updated guidance range with operating costs impacted by higher-than-anticipated government royalties and power costs. Relative to original guidance, government royalties were $31 per oz higher due to a better realized gold price and power costs were $57 per oz higher from lower-than-normal grid availability due to regional power issues in the H1-2024. These two cost overrun contributors were both out of the Company’s control and if their cost impacts were removed, original AISC guidance of $1,300 per oz to $1,375 per oz would have been met.
    • Record Annual Revenue: Revenue of $283.5M from the sale of 118,697 gold oz at a realized gold price of $2,384 per oz. The Company’s gold sales remain unhedged to rising gold prices.
    • Record EBITDA, Net Income, and Earnings Per Share: Reported record EBITDA of $128.3M and net income attributable to Orezone shareholders of $55.7M, primarily driven by a 23% increase in the realized gold price from the prior year. Net income per share attributable to Orezone shareholders was a record $0.14 per share on a basic basis and $0.13 per share on a diluted basis.
    • Continued Free Cash Flow Generation: Generated free cash flow of $11.7M with cash flow from operating activities totalling $98.4M after deducting taxes paid of $26.2M but before changes in non-cash working capital. Non-cash working capital increased by $40.7M primarily from the build-up of VAT receivables and long-term ore stockpiles. Cash flow used in investing activities totalled $46.0M as capital expenditures remained elevated as the Company executes on its growth initiatives including the Phase II hard rock expansion.
    • Phase II Hard Rock Expansion on Track for First Gold in 2025: The Company’s Board approved a positive construction decision on stage 1 of the Phase II hard rock expansion on July 10, 2024 after the Company had secured $105M in binding debt and equity commitments described below for the construction. Under stage 1, a 2.5M tonnes per annum (“tpa”) process plant will be built to recover gold from hard rock mineral reserves which is expected to increase future production levels by 50% to over 170,000 oz per annum. First gold for stage 1 of the Phase II expansion remains on track for Q4-2025 with commercial production expected shortly thereafter in early 2026.
    • Phase I Debt Reduced, Bridge Loan Repaid, and Phase II Expansion Financing Secured: Principal repayments totalling XOF 24.0 billion ($39.3M) were made on the Company’s senior borrowings with Coris Bank, including the extinguishment of the XOF 12.0 billion ($19.8M) bridge loan. On August 8, 2024, the Company completed a non-brokered private placement for net proceeds of C$64.8M ($47.3M) with a new cornerstone investor, Nioko Resources Corporation (“Nioko”), a leading West African investment group. On December 19, 2024, the Company successfully upsized its senior debt facility with Coris Bank through a new term loan for XOF 35.0 billion ($58.3M) (“Phase II Term Loan”) to be drawn in multiple tranches as construction progresses. The Company made its first drawdown of XOF 17.5 billion ($27.9M) on the Phase II Term Loan in December 2024.
    • Multi-year Exploration Drill Program Initiated: In August 2024, the Company initiated a multi-year discovery focused drill program with an initial 30,000 m of drilling designed to test the broader size and scale of the Bomboré mineralized system. Initial results from drilling at the North Zone intercepted mineralization 240 m below the current reserve pit limit, including 1.67 g/t gold over 46.00 m, demonstrating the continuity and robustness of the mineralized system at depth, both in terms of grade and overall width (see October 10, 2024 news release).

    Q4-2024 Highlights

    • Gold Production: Quarterly gold production of 36,502 oz increased 37% from Q3-2024 as a result of record plant throughput and improved head grades. Mining extended to Siga East and Siga South pits for a full quarter which contributed a greater blend of soft oxide ore at higher grades to the mill feed.
    • AISC Per Oz: AISC per oz sold was $1,273 per oz, a 23% decrease from Q3-2024, driven mainly by improved gold production as a result of higher grades and better plant throughput.
    • EBITDA, Net Income, and Earnings Per Share: Reported EBITDA of $48.1M and net income attributable to Orezone shareholders of $30.1M. Net income per share attributable to Orezone shareholders was $0.06 per share on both a basic and diluted basis.
    • Free Cash Flow: Generated free cash flow of $12.5M with cash flow from operating activities totalling $52.5M after deducting taxes paid of $6.3M but before changes in non-cash working capital. Cash flow used in investing activities totalled $15.5M as expenditures for the Phase II hard rock expansion began to ramp up.

    Events Subsequent to 2024 Year-End

    • Bought Deal Offering: On March 13, 2025, the Company closed on a public offering of common shares on a bought deal basis with Canaccord Genuity Corp. (“Canaccord”) pursuant to which the Company agreed to sell 42,683,000 common shares at a price of C$0.82 per share for aggregate gross proceeds of C$35,000,060. Net proceeds from the offering will be used to conduct early works for stage 2 of the Phase II hard rock expansion and for additional exploration. Under stage 2, processing capacity of the hard rock plant will double from the 2.5Mtpa design in stage 1 to 5.0Mtpa after completion of stage 2.
    • Over-allotment Exercise: Canaccord has exercised its over-allotment in full on the bought deal offering and has agreed to purchase an additional 6,402,450 common shares at a price of C$0.82 per share for aggregate gross proceeds of C$5,250,009. The purchase of shares from the over-allotment closed on March 19, 2025.
    • Private Placement with Nioko: The Company has announced that Nioko intends to acquire, on a non-brokered private placement basis, for 10,719,659 additional common shares at a price of C$0.82 per share for aggregate gross proceeds of C$8,790,121 to maintain its 19.9% share ownership (before the over-allotment exercise). Closing of this private placement is subject to approval of the TSX and is anticipated to occur in late March 2025.
    • Intention to List on the Australian Securities Exchange (“ASX”): The Company intends to pursue a secondary listing on the ASX by mid-2025, subject to market conditions and the satisfaction of ASX listing requirements as announced in its February 23, 2025 press release. The Company believes a dual listing on the ASX will increase trading liquidity and allow it to access a deeper pool of investors, including specialist mining focused funds.

    2024 Performance and 2025 Guidance

    2024 Performance Compared Against Guidance

    Bomboré Mine (100% basis) Unit Original
    FY2024 Guidance    		 Revised
    FY2024 Guidance4    		 FY2024
    Actuals
    Gold production Au oz 110,000 – 125,000 Unchanged  118,746
    All-In Sustaining Costs123 $/oz Au sold $1,300 – $1,375 $1,400 – $1,475 $1,447
    Sustaining capital12 $M $14 – $15 Unchanged $16.0
    Growth capital – non Phase II Expansion12 $M $16 – $17 Unchanged $17.6
    Growth capital – Phase II Expansion early works12 $M No guidance provided $3.6 $3.6
    Growth capital – Phase II Expansion12 $M No guidance provided $15.0 – $18.0 $15.3
    1. Non-IFRS measures. See “Non-IFRS Measures” section below for additional information.
    2. Foreign exchange rates used to forecast cost metrics include XOF/USD of 600 and CAD/USD of 1.30.
    3. Government royalties of $160/oz included in original AISC guidance based on an assumed gold price of $2,000 per oz. Government royalties of $200/oz were estimated in the revised AISC guidance from a better gold price realized.
    4. Revised guidance details presented in Q3-2024 MD&A.

    2025 Guidance

    Bomboré Mine (100% basis) Unit FY2025 Guidance
    Gold production Au oz 115,000 – 130,000
    All-In Sustaining Costs123 $/oz Au sold $1,400 – $1,500
    Sustaining capital12 $M $9 – $10
    Growth capital (excluding Phase II Expansion)12 $M $44 – $51
    Growth capital – Stage 1 of Phase II Expansion12 $M $75 – $80
    1. Non-IFRS measure. See “Non-IFRS Measures” section below for additional information.
    2. Foreign exchange rates used to forecast cost metrics include XOF/USD of 600 and CAD/USD of 1.35.
    3. Government royalties included in AISC guidance based on an assumed gold price of $2,600 per oz.

    Gold production in 2025 is forecasted to range between 115,000 to 130,000 oz, with the highest production expected in the fourth quarter from the scheduled start-up of the Phase II hard rock plant. Projected gold production from hard rock reserves is between 5,000 to 10,000 oz with actual production dependent on the timing and ramp-up of the new hard rock circuit. Gold production from the existing Phase I oxide plant is guided between 110,000 to 120,000 oz, similar to that achieved in 2024.

    Mining will be concentrated within three main pits delivering most of the direct feed ore with the H pit in the North Zone, and the Siga East and Siga South pits in the South Zone. The 2025 mine plan calls for 22.4M tonnes to be mined by the mining contractor at a strip ratio of approximately 1.8.   The mining contractor placed new excavators, dump trucks, and support equipment into service in November 2024 and is organizing to mobilize additional equipment to site later this year in preparation for the start-up of hard rock mining.

    AISC in 2025 is expected to range between $1,400 to $1,500 per oz sold. AISC per oz is expected to be comparable to 2024 with a small decrease in head grades, an increased strip ratio, and greater government royalties from a higher assumed gold price offset by lower sustaining capital, higher grid utilization, and higher plant throughput from fewer power interruptions and enhanced maintenance practices.

    Sustaining capital is budgeted to fall within the range of $9M to $10M with expenditures directed towards the completion of tailings storage facility (“TSF”) stage 4 lift, extension of the main haul road and perimeter fencing at the southern end of the mining permit, and other capital improvements to the process plant, camp, and mine support equipment and facilities.

    Growth capital is expected to range between $119M to $131M on four major growth projects:

    No. Growth Capital Description Unit FY2025 Guidance
    I. Phase II Hard Rock Expansion – Stage 1 $M $75 – $80
    II. Permanent Back-up Diesel Power Plant $M $22 – $24
    III. TSF Footprint Expansion – Cell 2 $M $11 – $13
    IV. Resettlement Action Plan (“RAP”) $M $11 – $14
      Growth Capital Total $M $119 – $131
           
      Phase II Hard Rock Expansion – Stage 2 $M No guidance provided

    The Company has reserved guidance on 2025 expenditures for stage 2 of the Phase II hard rock expansion until the Company’s Board of Directors has issued a final investment decision to proceed with stage 2 expected later this year. Stage 2 would increase annual gold production to 220,000 – 250,000 oz.  

    I.      Phase II Hard Rock Expansion – Stage 1

    A new 2.5Mtpa hard rock plant to process fresh and lower transition ore is currently under construction and once completed, will operate in tandem with the existing Phase I oxide plant. The current flowsheet for stage 1 of this brownfield expansion consists of a primary jaw crusher, an 18-hour crushed ore stockpile, a single stage 9MW SAG mill, hydrocyclones, and a carbon-in-leach (“CIL”) circuit consisting of five 15.8 m diameter leach tanks. Loaded carbon will be treated in the shared gold recovery circuit, producing gold doré bars from the existing gold room. Tailings from the CIL circuit will be pumped into the expanded tailings facility.

    The Company completed a comprehensive review of the construction progress and costing as part of its annual budgeting exercise for 2025. From this review, schedule to first gold remains in Q4-2025 with a project budget of $90M – $95M with $75M – $80M forecasted in 2025.

    II.      Permanent Back-Up Diesel Power Plant

    A new diesel power plant will be installed to provide continuous power to both the Phase I oxide plant and Phase II hard rock plant when the national grid is unavailable or unable to provide stable power.

    Following a competitive tender, the Company awarded the engineering, supply, installation, and commissioning of this new power plant to Africa Power Services (“APS”). APS will supply 18 Caterpillar diesel gensets with 1.8MW rated capacity each that will function as back-up units to the grid to meet the 18MW to 20MW load demand of both processing circuits. This new power plant is scheduled for final commissioning in October 2025 and will replace the APS genset rentals that are currently providing power on a back-up basis.

    III.      TSF Footprint Expansion – Cell 2

    The TSF starter dam over the Cell 1 footprint was completed prior to the start of processing operations in 2022. Lifts of the Cell 1 embankment walls have been completed each year to add storage to hold the volume of tailings expected to be generated by the mine for the upcoming year. The stage 4 lift is currently in progress and is slated for completion in June 2025 with costs captured under sustaining capital.

    To optimize costs of future tailings lifts and to meet the higher annual storage requirements from the Phase II hard rock expansion, work to expand the TSF footprint southwards into Cell 2 will begin in 2025 and continue into 2026, and include the HDPE lining of the Cell 2 basin and installation of underdrainage to improve water recovery and dam stability. Cell 2 will cover the ultimate TSF footprint and is designed to ensure that future annual lifts will provide sufficient storage of tailings generated each year by the combined oxide and expanded stage 2 (5Mtpa) hard rock operations.

    IV.      Resettlement Action Plan – Phases II, III, and IV

    RAP Phases II and III commenced in 2023 and will see the construction of three new resettlement communities (MV3, MV2, and BV2) to help relocate households occupying areas within the southern half of the Bomboré mining permit. Both MV3 and MV2 were successfully completed in 2024 followed by the start of BV2 construction in late 2024.

    RAP Phase IV was presented as part of the Environment Social Impact Assessment (“ESIA”) submitted by the Company in 2024 to expand the current mining permit by an additional 5.56 km2.

    Construction costs of $8.0M to $10.0M are forecasted in 2025 to complete the remaining construction of BV2 by October 2025 and for the anticipated start of RAP Phase IV construction in Q4-2025. RAP costs of $3.0M to $4.0M are estimated for compensation, consultants, relocation allowances, and livelihood restoration programs.

    Revenue Protection Program for 2025

    The Company has implemented a low-cost revenue protection program for approximately half of its forecasted gold production in 2025 by purchasing 60,000 oz of put options with a strike price of $2,300 per oz at a cost of $0.8M. These options were acquired in November 2024 from a leading Canadian chartered bank and are structured as a monthly program of 5,000 oz options with option expiries at each month-end.

    The purchase of put options allows the Company to secure margin on its gold sales should gold prices fall significantly while retaining full upside to rising gold prices. The Company invested in these put options due to the large capital programs planned for 2025.

    Bomboré Gold Mine, Burkina Faso (100% Basis)

    Operating Highlights   Q4-2024   Q4-2023   FY2024 FY2023  
    Safety          
    Lost-time injuries frequency rate per 1M hrs 0.00   0.00   0.00 0.00  
    Personnel-hours worked 000s hours 1,326   1,301   5,366 4,394  
    Mining Physicals          
    Ore tonnes mined tonnes 2,063,262   2,883,006   7,889,973 9,247,175  
    Waste tonnes mined tonnes 2,655,783   3,048,669   11,921,398 11,237,079  
    Total tonnes mined tonnes 4,719,045   5,931,675   19,811,370 20,484,254  
    Strip ratio waste:ore 1.29   1.06   1.51 1.22  
    Processing Physicals          
    Ore tonnes milled tonnes 1,652,844   1,449,769   5,928,599 5,749,163  
    Head grade milled Au g/t 0.77   0.82   0.71 0.85  
    Recovery rate % 89.1   88.9   88.2 90.4  
    Gold produced Au oz 36,502   33,916   118,746 141,425  
    Unit Cash Cost          
    Mining cost per tonne $/tonne 3.50   3.05   3.49 3.01  
    Mining cost per ore tonne processed $/tonne 7.37   6.31   8.44 6.77  
    Processing cost $/tonne 7.00   10.84   8.27 10.14  
    Site general and admin (“G&A”) cost $/tonne 4.07   4.85   3.90 3.95  
    Cash cost per ore1tonne processed $/tonne 18.44   22.00   20.61 20.86  
    Cash Costs and AISC Details          
    Mining cost (net of stockpile movements) $000s 12,174   9,146   50,008 38,932  
    Processing cost $000s 11,563   15,719   49,049 58,285  
    Site G&A cost $000s 6,719   7,036   23,124 22,707  
    Refining and transport cost $000s 193   141   497 519  
    Government royalty cost $000s 7,512   5,163   22,739 17,508  
    Gold inventory movements $000s (647 ) (606 ) 892 (2,190 )
    Cash costs on a sales basis $000s 37,514   36,599   146,309 135,761  
    Sustaining capital $000s 4,245   3,558   15,997 14,002  
    Sustaining leases $000s 73   73   292 301  
    Corporate G&A cost $000s 2,511   1,874   9,154 7,325  
    All-In Sustaining Costs1on a sales basis $000s 44,343   42,104   171,752 157,389  
    Gold sold Au oz 34,833   33,782   118,697 139,696  
    Cash costs per gold ounce sold1 $/oz 1,077   1,083   1,233 972  
    All-In Sustaining Costs per gold ounce sold1 $/oz 1,273   1,246   1,447 1,127  

    1 Non-IFRS measure. See “Non-IFRS Measures” section below for additional details.

    Bomboré Production Results

    Q4-2024 vs Q4-2023

    Gold production in Q4-2024 was 36,502 oz, an increase of 8% from the 33,916 oz produced in Q4-2023. The higher gold production is attributable to a 14% increase in plant throughput offset by a 6% decrease in head grades.

    The better head grades in Q4-2023 were from the sequencing of higher-grade pits in earlier periods of the mine plan and greater ore release from more tonnes mined allowing for the stockpiling of lower-grade ore. More tonnes were mined in Q4-2023 as a second mining contractor was utilized to assist with mining volumes.

    Plant throughput of 1.65M tonnes in Q4-2024 hit a new quarterly record as processing operations benefitted from higher hourly throughput, greater blend of soft oxide ore, and less maintenance. Improvements to hourly plant throughput were successfully instituted in July 2024 by increasing the mill power and reducing residence time in the CIL circuit with only a minor effect to recovery rates. Mining at the new Siga East and Siga South pits for a full quarter in Q4-2024 resulted in the release of more tonnes of softer oxide ore while completion of all scheduled major plant maintenance in earlier quarters of the year combined with high grid availability resulted in less plant downtime.

    2024 vs 2023

    Gold production in 2024 was 118,746 oz, a decline of 16% from the 141,425 oz produced in 2023. The lower gold production is attributable to a 16% decrease in head grades and a 2% decrease in plant recoveries, partially offset by a 3% increase in plant throughput.

    Head grades in 2023 were higher from the sequencing of higher-grade pits in earlier periods of the mine plan and the processing of high-grade stockpiles accumulated during the Phase I construction, with such stockpiles being fully depleted by June 2023.

    Plant recoveries were lower in 2024 as a direct result of lower head grades, a greater blend of transition ore, and less residence in the CIL circuit.

    Plant throughput was higher in 2024 from the operating procedures followed in the H2-2024 to maximize hourly plant throughput.

    Bomboré Operating Costs

    Q4-2024 vs Q4-2023

    AISC per gold oz sold in Q4-2024 was $1,273, a 2% increase from $1,246 per oz sold in Q4-2023. The higher AISC is the result of: (a) lower head grades; (b) greater per oz royalty costs from a 33% increase in the realized gold price ($2,632/oz vs $1,986/oz) coupled with higher royalty rates that took effect in October 2023; and (c) increased mining costs attributable to deeper pits, drill-and-blast associated with harder transition ore, and higher strip ratio. This cost increase was partially offset by a reduction in power costs from the switch to lower-cost grid power in February 2024 (92% grid utilization in Q4-2024) and from a 14% jump in plant throughput resulting in economies for fixed costs.

    Cash cost per ore tonne processed in Q4-2024 was $18.44 per tonne, a decrease of 16% from $22.00 per tonne in Q4-2023, as a result of the use of lower-cost grid power and a 14% increase in plant throughput positively impacting unit cost for processing ($7.00/tonne vs $10.84/tonne) and site G&A ($4.07/tonne vs $4.85/tonne), partially offset by a 17% increase in mining costs per ore tonne processed ($7.37/tonne vs $6.31/tonne) attributable to higher strip ratio and unit mining cost.

    Mining cost per tonne has increased in Q4-2024 when compared to Q4-2023 ($3.50/tonne vs $3.05/tonne) as lower benches in the pits in the Northern Zone are mined resulting in longer hauls and more transition material that requires some drill-and-blast prior to excavation and greater rehandle prior to feeding into the dump pocket on the ROM pad combined with more grade control drilling for the new Siga pits.

    Processing costs per ore tonne decreased in Q4-2024 when compared to Q4-2023 ($7.00/tonne vs $10.84/tonne) mainly from the continuing cost benefit of utilizing grid power which has lowered power cost from $5.57/tonne in Q4-2023 to $2.39/tonne in Q4-2024, a drop of $3.18/tonne. Grid performance remained reliable and steady in Q4-2024 with 92% utilization, consistent with utilization in Q3-2024, and a significant improvement from Q2-2024 when grid utilization was 34% as issues with the supply system in Ghana and Côte D’Ivoire temporarily reduced power export into Burkina Faso.

    2024 vs 2023

    AISC per gold oz sold in 2024 was $1,447, a 28% increase from $1,127 per oz sold in 2023. The higher AISC is primarily the result of a 16% decline in head grades, higher government royalties from a better realized gold price and higher royalty rates, higher strip ratio and unit cost for mining, and moderate increases in sustaining capital and corporate G&A, partially offset by a reduction in processing costs from the switch to grid power as the primary power source in February 2024.

    Bomboré Growth Capital Projects

    Grid Power Connection

    The powerline to connect Bomboré to Burkina Faso’s national energy grid was successfully energized in February 2024. As of December 31, 2024, the Company has incurred costs of $19.9M, of which $0.2M was incurred in Q4-2024 and $1.6M in 2024. The Company plans to make minor upgrades to the grid connection in 2025 by installing equipment and software that will reduce the quantity of reactive power and hence, surcharges imposed by SONABEL, the state-owned electricity company of Burkina Faso.

    RAP Phases II and III

    Construction of MV3 and MV2 resettlement sites and the relocation of families to their new homes at these sites were completed in 2024. Construction on the BV2 resettlement site commenced in Q4-2024. Compensation payments to affected residents for loss of land, crops, trees, and private structures were also made in the year.

    As of December 31, 2024, the Company has incurred project-to-date costs of $26.5M for RAP Phases II and III, of which $4.3M was incurred in Q4-2024 and $16.0M in 2024.

    Phase II Hard Rock Expansion

    First gold remains on schedule and costs are trending in line with the most recent control budget. The concentrated scope of this expansion when compared to a greenfield project significantly reduces schedule and budget risks with start-up to benefit from the well-established mining, processing, and maintenance teams already on site.

    Construction of stage 1 of Phase II hard rock expansion was officially approved by the Company’s Board in early July 2024. To maintain first gold by Q4-2025, the Company undertook early work activities in H1-2024 which included front-end engineering and design, geotechnical investigations, additional office and camp accommodations, 18MW SAG mill order placement (subsequently cancelled), and bulk earthworks on the new plant layout.

    Lycopodium Minerals Canada (“Lycopodium”) was awarded the engineering and procurement contract and was chosen for their successful track record of designing and constructing numerous gold plants in West Africa, including the Company’s oxide plant that is currently in operations and exceeding nameplate design.

    Progress and milestones achieved on the expansion in 2024 include:

    • Engineering and drafting progress stood at 52% and ahead of plan. All bulk quantities, including concrete, structural steel, and platework, remain in line with budget.
    • Procurement was at 82% of total supply value with all long lead equipment ordered, including a 9MW SAG mill.
    • Early mobilization of concrete contractor with first concrete pour completed in November, three months ahead of schedule.
    • Tender of the structural, mechanical, and piping (“SMP”) contract with contract awarded shortly after year-end.

    All major site installation contracts (concrete, SMP, electrical and instrumentation, and mill installation) have been awarded to the same contractors that successfully delivered on the Phase I oxide construction.

    As of December 31, 2024, the Company has incurred $15.3M in costs for the Phase II hard rock expansion exclusive of the $3.6M spent on early work activities in 2024.

    NON-IFRS MEASURES

    The Company has included certain terms or performance measures commonly used in the mining industry that is not defined under IFRS, including “cash costs”, “AISC”, “EBITDA”, “adjusted EBITDA”, “adjusted earnings”, “adjusted earnings per share”, and “free cash flow”. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore, they may not be comparable to similar measures presented by other companies. The Company uses such measures to provide additional information and they should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For a complete description of how the Company calculates such measures and reconciliation of certain measures to IFRS terms, refer to “Non-IFRS Measures” in the Management’s Discussion and Analysis for the year ended December 31, 2024 which is incorporated by reference herein.

    CONFERENCE CALL AND WEBCAST

    The consolidated financial statements and Management’s Discussion and Analysis are available at www.orezone.com and on the Company’s profile on SEDAR+ at www.sedarplus.ca. Orezone will host a conference call and audio webcast to discuss its fourth quarter and full year 2024 results on March 20, 2025:

    Webcast
    Date:    Thursday, March 20, 2025
    Time:    8:00 am Pacific time (11:00 am Eastern time)
    Please register for the webcast here:  Orezone 2024 Year-End Results and 2025 Guidance

    Conference Call 
    Toll-free in U.S. and Canada: 1-800-715-9871
    International callers: +646-307-1963
    Event ID: 9731374

    QUALIFIED PERSONS

    The scientific and technical information in this news release was reviewed and approved by Mr. Rob Henderson, P. Eng, Vice-President of Technical Services and Mr. Dale Tweed, P. Eng., Vice-President of Engineering, both of whom are Qualified Persons as defined under NI 43-101 Standards of Disclosure for Mineral Projects.

    ABOUT OREZONE GOLD CORPORATION

    Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its 90%-owned flagship Bomboré Gold Mine in Burkina Faso. The Company completed construction of its oxide only process plant in August 2022 and achieved commercial production on its oxide operations on December 1, 2022. The Company is expanding operations and gold production by constructing stage 1 of a Phase II hard rock plant that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves.   Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets, and M&A.   

    The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.

    Patrick Downey
    President and Chief Executive Officer

    Kevin MacKenzie
    Vice President, Corporate Development and Investor Relations

    Tel: 1 778 945 8977
    info@orezone.com / www.orezone.com

    For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.

    The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains certain information that constitutes “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur, and include, amongst other statements, the Phase II hard rock expansion will increase annual gold production and is expected to pour first gold in Q4-2025.

    All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, terrorist or other violent attacks, the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel, the spread of diseases, epidemics and pandemics diseases, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management’s discussion and analysis filed on SEDAR+ on www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements.

    Forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to the Company’s ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

    Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.

    The MIL Network –

  • MIL-OSI Asia-Pac: DEPARTMENT OF PENSION & PENSIONERS’ WELFARE (DOPPW) SUCCESSFULLY CONDUCTS PENSIONERS’ AWARENESS PROGRAM & 8th BANKERS’ AWARENESS PROGRAM AT JAIPUR ON 18th MARCH, 2025

    Source: Government of India

    DEPARTMENT OF PENSION & PENSIONERS’ WELFARE (DOPPW) SUCCESSFULLY CONDUCTS PENSIONERS’ AWARENESS PROGRAM & 8th BANKERS’ AWARENESS PROGRAM AT JAIPUR ON 18th MARCH, 2025

    CENTRAL GOVERNMENT PENSIONERS SENSITIZED ON GOVERNMENT INITIATIVES FOR IMPROVING PENSIONERS WELFARE

    PUNJAB NATIONAL BANK OFFICIALS FROM CENTRAL PENSION PROCESSING CENTRES PARTICIPATED IN THE 8th BANKERS’ AWARENESS PROGRAM WITH FOCUS ON TIMELY REDRESSAL OF PENSIONER GRIEVANCES

    Posted On: 20 MAR 2025 11:41AM by PIB Delhi

    Department of Pension and Pensioners’ Welfare (DoPPW) conducted the Pensioners’ Awareness Program at Jaipur on 18th March, 2025. The program was held in collaboration with Central Government Pensioners Welfare Association, Jaipur during which pensioners were sensitized on government initiatives for improving pensioners welfare. The areas discussed included, Bhavishya, Integrated Pensioners Portal, CPENGRAMS, Pension Adalat, DPPW Call Center operations 1-800-11-1960, Anubhav, Anubhav Awardees Speak webinar series, Digital Life Certificate Campaign, Face Authentication, CGHS related issues, health care for pensioners and Pension Policy Related issues. The focus was on quality redressal of pensioner grievances and digital empowerment of pensioners. The objective of the program is to spread awareness of the various rules and procedures regarding pension entitlements and processes to Central Government pensioners and bankers as well as to update them about the changes that take place from time to time through various amendments in the policy and procedures.

    Along with the Pensioner Awareness Program, the 8th Banker’s Awareness Program was also held at Jaipur on 18th March, 2025 in which officers Punjab National Bank’s CPPCs handling pension related work participated. Senior officials of the Department interacted with the Bankers on improved coordination for redressal of Pensioner Grievances, conduct of the Digital Life Certificate Campaign and the use of Face authentication technology. This Workshop was the eighth in a series of Awareness Programs for Central Pension Processing Centers and field functionaries handling pension related work in various Banks.

    Senior officials from the Department of Pension and Pensioners Welfare Punjab National Bank, and office bearers of the Central Government Pensioner Welfare Association participated in the deliberations.

    *****

    NKR/PSM

    (Release ID: 2113153) Visitor Counter : 48

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Poland: Electricity grid to get further upgrades with EIB loan payment of over €400 million to Orlen Group

    Source: European Investment Bank

    • EIB set for loan of 1.7 billion Polish zlotys (€405 million) for Orlen to finance investment programme of its electricity supplier Energa Operator and improve and expand Poland’s electricity network
    • Loan to make Polish power grid more reliable and green, bolstering customer service, climate action and energy independence
    • Loan marks third and final tranche of 3.5-billion-zloty EIB loan to Orlen for upgrades to Poland’s power infrastructure

    The European Investment Bank (EIB) signed 1.7 billion Polish zlotys (€405 million) to electricity supplier Energa to improve and expand Poland’s electricity network. This is the third and final tranche of a 3.5- billion-zloty loan to Orlen for upgrades to power distribution grid in northern and central Poland.

    With the latest EIB loan tranche, Orlen subsidiary Energa Operator will upgrade over 4,600 kilometres of existing grid infrastructure, build a further 2,300 km of power lines in Poland to accommodate around 25,000 new customers. Energa Operator will also be able to modernize its electricity network’s metering systems.

    “Our support to Orlen is a strategic investment in the sustainable and long-term growth of the Polish economy,” said EIB Vice-President Teresa Czerwinska. “This underlines our strong commitment to a genuine and fair green transition, development of modern energy infrastructure and energy security for Poland and the European Union.”

    The operation advances EU goals to expand clean power such as wind and solar, become climate neutral by mid-century and reduce reliance on energy imports, outlined in RePowerEU initiative of the European Commission. It also strengthens a Polish aim of accelerating the shift to a net-zero-emissions power grid.

    “This record-high financing from the European Investment Bank is a strong vote of confidence in our growth strategy. We have an ambitious yet well-structured plan that will not only create value for our shareholders but also contribute to the broader economy. The EIB funding will be directed toward investments in our electricity distribution network, such as building new power lines and connecting new customers, including prosumers with their own renewable energy sources. These projects will be carried out by Energa Operator, which, thanks to the financing secured by ORLEN, is well-positioned to reinforce its leadership in Poland’s energy transition,” said Magdalena Bartoś, Vice President of the Management Board and Chief Financial Officer at ORLEN.

    The EIB loan supports Energa Operator long-term plans to expand the Polish national grid by 11,000 kilometres of new power lines and 7,000 kilometres of underground cables, while upgrading nearly 10,000 kilometres of existing infrastructure by the end of 2035. These investments will enable the connection of 350,000 new customers and integration of 9 GW of renewable energy sources, increasing the installed capacity of the national grid by more that 16 percent, and add energy storage facilities to further stabilise the power system.

    Background information

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    In 2024, the EIB Group financing in Poland grew to €5.7 billion. This bolstered sustainable development of cities and regions, energy transition and included the group’s largest security defence project last year.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    ORLEN Group is an integrated multi-utility energy company listed in the prestigious global Fortune Global 500. It was the first company in the region to declare achieving total emission neutrality in 2050. Thanks to the recent acquisitions and mergers, it became one of the 150 largest companies in the world. The company operates on 10 home markets: Poland, Czech Republic, Germany, Lithuania, Slovakia, Hungary, Austria, Canada, Norway and Pakistan. Retail sales are carried out using the largest network of 3,500 fuel stations in the region. The ORLEN Group’s offer reaches over 100 countries on 6 continents.

    By the end of this decade, ORLEN will have invested over PLN 320 billion to implement strategic projects, of which approximately 40% will be allocated to green investments, including wind energy at sea and on land, photovoltaics, biogas and biomethane, biofuels, electromobility, green hydrogen and synthetic fuels.

    MIL OSI Europe News –

  • MIL-OSI: Equinor presents 2024 Annual report

    Source: GlobeNewswire (MIL-OSI)

    Equinor ASA (OSE: EQNR, NYSE: EQNR) publishes annual report for 2024, including financial and sustainability reporting.

    “2024 was marked by continued unpredictability in energy markets, with growing energy demand, political uncertainty and uneven progress in the energy transition. Our focus is on producing the energy the world needs today, and at the same time developing the energy systems needed for the future,” says Anders Opedal, President and CEO of Equinor ASA.

    Safety

    “A systematic approach to safety over time is paying off with the best safety results to date in 2024. However, the year was marked by the fatal search and rescue (SAR) helicopter accident where we lost a dear colleague. We believe close collaboration with suppliers and shared learning in the industry is important for our continued safety improvement effort”, says Opedal.

    The twelve-month average Serious Incident Frequency (SIF) for 2024 was 0.3, down from 0.4 in 2023.

    Strong operational and financial performance

    Equinor delivered adjusted operating income* of USD 29.8 billion, and adjusted net income* of USD 9.18. Net operating income was reported at USD 30.9 billion and net income at USD 8.83 billion.

    “Our operational performance was strong, built on the dedicated efforts from employees across the company. Our role as a major supplier of energy to Europe is important and I am proud of the work we have done to provide energy security”, says Opedal.

    Strong operational performance across the portfolio contributed to an equity production of liquids and gas of 2,067 mboe per day in 2024, on par with the year before. Equity production of renewable power increased by 51% to 2,935 GWh.

    Strong financial result contributed to a return on average capital employed (RoACE)* at 21% for 2024. Capital discipline remained firm with organic capital expenditures* ending at USD 12.1 billion for the year. Equinor maintained a strong balance sheet with net debt to capital employed adjusted* of 11.9% at the end of 2024.

    The strong financial results of 2024 also led to strong contributions to society through taxes. In 2024, Equinor paid USD 20.6 billion in corporate income taxes of which USD 19.7 billion was paid in Norway, where Equinor has the largest share of its operations and earnings.

    Firm strategy and progressing industrial development

    “We have a consistent growth strategy, and our strategic direction remains firm. By adapting to market situation and opportunities, we are positioned for stronger free cash flow and growth, and set to create shareholder value for decades to come”, Opedal continues.

    Through progressing projects and portfolio shaping transactions Equinor spent 2024 high-grading the portfolio and positioning for stronger growth and cash flow.

    On the Norwegian continental shelf, the development of the portfolio continued with 39 new licences and approvals of the PDOs of Eirin, Irpa, Verdande and Andvare projects. The Johan Castberg FPSO arrived at the field and started preparations for startup.

    The international upstream portfolio was focused with the exits from our long-standing positions in Nigeria and Azerbaijan and deepened in core areas with the acquisitions of US Onshore gas assets close to premium markets. In the UK an agreement was signed to establish an incorporated joint venture with Shell UK Ltd., which will become the largest independent oil and gas company on the UK continental shelf.

    Through 2024 Equinor high-graded the renewables portfolio to ensure profitable growth, in a market challenged by cost inflation and regulatory delays. In the UK the world’s largest offshore wind farm, Dogger Bank, continued to progress towards commercial start-up. Production was commenced at the Mendubim solar plants in Brazil.

    The long-term view on the importance of offshore wind remains firm. Through an acquisition of a 10% stake in Ørsted, Equinor got exposure to a premium portfolio of offshore wind projects and assets in operation.

    Value chains for carbon transport and storage progressed notably. In Norway, Northern Lights, the first commercial CO2 transport and storage infrastructure was completed and is expected to receive and store CO2 in 2025. In the UK, execution started for two of UK’s first carbon capture and storage infrastructure projects where Equinor is a partner.

    Progress on the Energy transition plan

    In 2024, Equinor achieved a year-on-year reduction of 5% in operated scope 1+2 greenhouse gas emissions, bringing the total down to 11.0 million tonnes CO2 equivalents. This is a 34% reduction from 2015, which is the reference year for Equinor’s ambition to reduce group-wide operated emissions by 50% on a net basis by 2030. Throughout 2024, actions were taken for further emission reductions with the partial electrification of the Sleipner field center, the Gudrun platform, as well as the Troll B and C fields.

    The average upstream CO2 intensity of Equinor’s operated portfolio was 6.2 kg of CO2 per boe in 2024 (100% basis), an improvement from 6.7kg of CO2/boe in 2023 and well below the industry average. The scope 3 GHG emissions from use of our products were 251 million tonnes in 2024, on par with the level in 2023.

    Equinor improved in the net carbon intensity of energy produced (including scope 1, 2 and 3 emissions) in 2024, which is now 2% below the 2019 baseline. The reduction was mainly driven by increased renewable energy production and lower scope 1+2 emissions.

    Equinor ambition is to to be a leading company in the energy transition. The updated Energy Transition Plan, published on March 20 2025, outlines the approach to deliver on Equinor’s strategy of creating value in the transition, while adjusting to changing external context and market realities.

    ***

    The previously announced decision of the French Energy Regulatory Commission (CRE), includes a requirement for Equinor to publish the following summary language:

    “Les sociétés Danske Commodities A/S et Equinor ASA ont été condamnées, par une décision n° 08-40-23 de la Commission de régulation de l’énergie (CRE) du 20 janvier 2025, au titre de la méconnaissance de l’article 5 du règlement REMIT qui prohibe les manipulations de marché, au paiement de sanctions pécuniaires, dont les montants s’élèvent à huit millions d’euros (8.000.000 €) pour la société Danske Commodities A/S et quatre millions d’euros (4.000.000 €) pour la société Equinor ASA, pour des manipulations commises sur le marché de gros en 2019 et en 2020, en ce qui concerne les capacités de transport de gaz naturel entre la France et l’Espagne.

    Danske Commodities A/S and Equinor ASA were ordered by decision no. 08-40-23 of Commission de régulation de l’énergie (CRE) of 20 January 2025 to pay – for infringement of Article 5 of REMIT Regulation prohibiting market manipulations – financial penalties in the amount of eight million euros (€8,000,000) as regards Danske Commodities A/S and four million euros (€4,000,000) as regards Equinor ASA, for manipulations committed on the wholesale market in 2019 and 2020, with regard to natural gas transmission capacity between France and Spain.”

    The full decision is included in the attached appendix “Full decision text”. Equinor does not agree with the decision from CRE and will appeal the case to the Higher Administrative Court in France.

    * * *

    Our annual report and the subsidiary reports published separately can be downloaded from equinor.com/reports.

    * * *

    In accordance with Section 203.01 of the New York Stock Exchange Listed Company Manual, Equinor ASA announces that on 20 March 2025 it filed with the Securities and Exchange Commission its 2024 Annual Report on Form 20-F that includes audited financial statements for the year ended December 31, 2024.

    The Equinor 2024 Annual Report on Form 20-F may be downloaded from Equinor’s website at www.equinor.com. References to this document or other documents on Equinor’s website are included as an aid to their location and are not incorporated by reference into this document. All SEC filings made available electronically by Equinor may be obtained from the SEC’s website at www.sec.gov.

    Shareholders may also request a hard copy of the annual report free of charge at www.equinor.com.

    * * *

    (*) These are non-GAAP figures. See Use and reconciliation of non-GAAP financial measures in the annual report for more details.

    Further information:

    Investor relations
    Bård Glad Pedersen, senior vice president Investor Relations,
    +47 51 99 00 00

    Press
    Rikke Høistad Sjøberg, media spokesperson financial communication,
    +47 901 01 451(mobile)

    * * *

    Cautionary Note regarding Forward Looking Statements

    This press release contains forward-looking statements. Forward-looking statements reflect current views with respect to future events, are based on the management’s current expectations and assumptions, and are, by their nature, subject to significant risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements, including those discussed under “Risk Factors” in the 2024 Annual report and elsewhere in Equinor’s publications. You should not place undue reliance on forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, Equinor undertakes no obligation to update any of these statements, whether to make them conform to actual results, changes in expectations or otherwise.

    * * *

    This information is subject to disclosure obligations pursuant to the EU Market Abuse Regulation, ref. section 3-1 in the Norwegian Securities Trading Act, and section 5-12 of the Norwegian Securities Trading Act.

    Attachments

    The MIL Network –

  • MIL-OSI: Announcement of Fixed Income Investor Meetings

    Source: GlobeNewswire (MIL-OSI)

    Diversified Energy Company PLC (LSE: DEC) (NYSE: DEC) (“Diversified” or the “Company”), an independent energy company focused on natural gas and liquids production, transportation, marketing and well retirement, today announces that it has mandated DNB Markets, a part of DNB Bank ASA, as Sole Bookrunner to arrange a series of fixed income investor calls commencing March 24, 2025. Following such fixed-income investor calls, the Company intends to commence an offering of four-year US$ denominated senior secured notes, subject inter alia to market conditions (the “Contemplated Bond Offering”).

    The Company intends to use the net proceeds from the Contemplated Bond Offering to repay existing debt and for general corporate purposes.

    The Contemplated Bond Offering, if issued, will be offered in the United States or its territories only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “U.S. Securities Act”). The Contemplated Bond Offering, if issued, will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute or form a part of any offer to sell or the solicitation of an offer to buy any securities of Diversified, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful, and is being issued in the United States pursuant to and in accordance with Rule 135c under the Securities Act.

    For further information, please contact:

    Diversified Energy Company PLC +1 973 856 2757
    Doug Kris dkris@dgoc.com
    Senior Vice President, Investor Relations & Corporate Communications  
       
    FTI Consulting dec@fticonsulting.com
    U.S. & UK Financial Public Relations  
       

    About Diversified
    Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

    Forward-Looking Statements
    This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning Diversified and the Contemplated Bond Offering. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. These forward-looking statements reflect Diversified’s beliefs and expectations, are based on numerous assumptions regarding Diversified’s present and future business strategies and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements will come to pass. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond Diversified’s ability to control or estimate precisely. Factors that may cause actual results to differ materially from the forward-looking statements contained in this announcement include the risk factors described in the “Risk Factors” section in Diversified’s Annual Report and Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of their date and neither Diversified nor any of its directors, officers, employees, agents, affiliates or advisers expressly disclaim any obligation to supplement, amend, update or revise any of the forward-looking statements made herein, except where it would be required to do so under applicable law. You are cautioned not to place undue reliance on such forward-looking statements.

    Important Notice to UK and EU Investors
    This announcement is directed at and is only being distributed to persons: (a) if in member states of the European Economic Area, “qualified investors” within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) (“Qualified Investors“); or (b) if in the United Kingdom, “qualified investors” within the meaning of Article 2(e) of the UK version of Regulation (EU) 2017/1129 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, who are (i) persons who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order“), or (ii) persons who fall within Article 49(2)(a) to (d) of the Order; or (c) persons to whom they may otherwise lawfully be communicated (each such person above, a “Relevant Person“). No other person should act or rely on this announcement and persons distributing this announcement must satisfy themselves that it is lawful to do so. This announcement must not be acted on or relied on by persons who are not Relevant Persons, if in the United Kingdom, or Qualified Investors, if in a member state of the EEA. Any investment or investment activity to which this announcement or the the Contemplated Bond Offering relates is available only to Relevant Persons, if in the United Kingdom, and Qualified Investors, if in a member state of the EEA, and will be engaged in only with Relevant Persons, if in the United Kingdom, and Qualified Investors, if in a member state of the EEA.

    The MIL Network –

  • MIL-OSI: IPOPEMA Initiates Coverage of Šiaulių Bankas with a Buy Rating and a Target Price of EUR 1.20

    Source: GlobeNewswire (MIL-OSI)

    On March 19, 2025 IPOPEMA, a leading independent investment bank in Poland, announced the initiation of equity research coverage (sponsored) on Šiaulių Bankas with a “Buy” rating and a target price of EUR 1.20 per share. This target price represents a compelling 28% upside potential over the bank’s current market valuation.

    IPOPEMA’s analysis highlights Šiaulių Bankas’s distinct market position, serving clients across the size spectrum while strategically focusing on the underserved SME segment. This niche is often overlooked by larger, risk-averse institutions. The robust Lithuanian macroeconomic environment is expected to drive strong volume growth across all sectors. While the bank’s ongoing rebranding and implementation of a new software platform may result in a temporary decline in net profit this year due to strategic investments and falling interest rates, these initiatives are expected to fuel long-term growth.

    IPOPEMA is a leading independent investment bank in Poland, providing a wide range of financial services, including investment banking, brokerage and asset management. With a strong track record in capital market transactions and a commitment to delivering value to its clients, IPOPEMA is a trusted partner for international companies accessing Polish investors as well as global Emerging Market investors.

    “We welcome IPOPEMA’s initiation of research coverage and are very excited about it. As we continue to strengthen our investor engagement, we believe their renowned expertise in the CEE Banking sector will provide invaluable insights and analysis, significantly benefiting our existing and potential investors,” says Tomas Varenbergas, Head of Investment Management Division at Šiaulių Bankas.

    Šiaulių Bankas is also covered by Enlight Research, Erste Group, Norne Securities, Swedbank and WOOD & Company. The research reports are available to investors on Šiaulių Bankas’ website.

    If you would like to receive Šiaulių Bankas news for investors directly to your inbox, subscribe to our newsletter.

    Important Notice:

    IPOPEMA reports are prepared on behalf of Šiaulių Bankas and based on publicly available information. Reports are published for informational purposes only and do not constitute, and shall not be deemed to constitute, an investment recommendation to buy, sell or enter into any other transactions in respect of the shares of Šiaulių Bankas. The information provided may not form the basis of any subsequent transaction. Investors themselves are responsible for making investment decisions based on the information published.

    Additional information: 
    Tomas Varenbergas 
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    The MIL Network –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on March 20, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 1,50,000
    Total amount of bids received (in ₹ crore) 1,24,009
    Amount allotted (in ₹ crore) 1,24,009
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.26
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2421

    MIL OSI Economics –

  • MIL-OSI: Enerflex Ltd. Announces Leadership Transition

    Source: GlobeNewswire (MIL-OSI)

    MARC ROSSITER STEPS DOWN AS PRESIDENT, CEO, AND DIRECTOR

    PREET DHINDSA NAMED INTERIM CEO

    REAFFIRMS 2025 OUTLOOK AND CONCURRENTLY ANNOUNCES EXPANSION OF DIRECT SHAREHOLDER RETURNS

    CALGARY, Alberta, March 19, 2025 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced that Marc Rossiter has stepped down as President, CEO, and Director, effective immediately.

    Preet Dhindsa, Enerflex’s current Senior Vice President and CFO, will serve as Interim Chief Executive Officer. Mr. Dhindsa joined Enerflex in October 2023 and is a seasoned executive with more than 25 years of experience, primarily in the energy and financial services industries.

    Joe Ladouceur, Vice President Treasury, Tax & Insurance, will serve as Interim CFO.

    The Board is undertaking a comprehensive search to identify the Company’s next CEO and has retained a leading executive search firm to assist with this process.

    Kevin Reinhart, Chair of the Board of Directors, stated, “As we look to the future and position Enerflex to create shareholder value over the long-term, the Board decided that now is the right time to undertake a leadership transition. We thank Marc for his more than 25 years of dedicated service and commitment to Enerflex, including the last six years as CEO, and wish him the best in his future endeavors.”

    Mr. Rossiter said, “Leading Enerflex has been a true privilege, and I’m incredibly proud of all that we’ve accomplished together to propel the business forward over the past six years. Thanks to the dedication of a talented team, Enerflex is well-positioned to build on its positive momentum and I believe the Company has a bright future.”

    Mr. Reinhart added, “Preet has been instrumental in Enerflex’s efforts to “Simplify, Optimize, and Grow” and we are fortunate to have him serve as Interim Chief Executive Officer. With the support and collaboration of a deep bench of executive talent, we are confident in Preet’s ability to lead Enerflex in this interim period as we complete our search for a permanent CEO.

    Enerflex’s near-term priorities remain unchanged and include: (1) enhancing the profitability of core operations; (2) leveraging the Company’s leading position in core operating countries to capitalize on expected increases in natural gas and produced water volumes; and (3) maximizing free cash flow to further strengthen Enerflex’s financial position, provide direct shareholder returns, and invest in selective customer supported growth opportunities.”

    Mr. Dhindsa commented, “I am excited to continue working closely with the Board, management, and our colleagues across the Company. Our focus remains on generating sustainable free cash flow, further improving balance sheet health, and positioning the Company for long-term growth and value creation. With the Company operating within its target leverage range, Enerflex is positioned to increase direct shareholder returns, as reflected by (1) the previously announced 50% increase of the Company’s quarterly dividend and (2) today’s concurrent announcement of the Company’s intention to implement a normal course issuer bid.”

    OUTLOOK

    All amounts presented are in U.S. Dollars (“USD”) unless otherwise stated.

    Enerflex is reaffirming its outlook for 2025, which reflects:

    1. Steady demand across the Company’s business lines and geographic regions, although Enerflex continues to closely monitor geopolitical tensions across North America, including the potential impact of tariffs. Based on currently available information, the direct impact of tariffs on Enerflex’s business is expected to be mitigated by the Company’s diversified operations and proactive risk management.
    2. Approximately 65% of the Company’s gross margin before depreciation and amortization is generated by the highly contracted Energy Infrastructure product line and the recurring nature of its After-Market Services business.
    3. The expectation that Engineered Systems’ gross margin before depreciation and amortization will be more consistent with the historical long-term average for this business line and that near-term revenue is expected to remain steady.
    4. A disciplined capital program in 2025, with total capital expenditures of $110 million to $130 million. Growth capital spending of $40 million to $60 million will focus on customer supported opportunities in the US and Middle East.

    About Preet Dhindsa

    Since joining Enerflex, Preet has spearheaded several corporate initiatives including improving balance sheet health and enhancing the global finance function. Prior to joining Enerflex, Preet served as Executive Vice President and Chief Financial Officer at ENMAX Corporation, a regulated utility with energy generation and retail lines of business. Prior thereto, Preet was Senior Vice President and Chief Financial Officer, Global Banking & Markets (GBM), at Scotiabank, leading international finance teams. Preet began his career as a professional accountant with KPMG and holds a Bachelor of Science degree in Mathematics & Statistics from Western University and a Graduate Diploma in Accounting from Wilfrid Laurier University. Preet is a Chartered Professional Accountant and Chartered Director.

    About Joe Ladouceur

    Prior to joining Enerflex, Joe served as President and CEO of Platinum Energy Services Ltd. until he successfully managed its sale in 2022. With over 30 years of experience in the finance and energy industries, Joe has held numerous executive leadership roles with Canadian E&P, energy services, and equipment fabrication companies. He began his career with Royal Bank of Canada and RBC Dominion Securities, where he was involved in corporate banking and global energy projects. Joe holds an Honors Business Administration degree with a major in finance from the Ivey Business School in London, Ontario, a Master of Business Administration from KU Leuven in Belgium, and an Honorary Fellowship from St. Mary’s University in Calgary.

    ADVISORY REGARDING FORWARD-LOOKING INFORMATION

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “anticipate”, “believe”, “could”, “estimate”, “expect”, “future”, “intend”, “may”, “plan”, “potential”, “predict”, “should”, “will” and similar expressions, (including negatives thereof) are intended to identify FLI.

    In particular, this news release includes (without limitation) forward-looking information and statements pertaining to:

    • the Company’s near-term priorities and its positioning for long-term growth and value creation;
    • the CEO transition and the CEO search, including with respect to the time it will take to complete the CEO search and the impact the CEO search and the CEO transition may have on the Company and its operations;
    • the Company’s intention to implement a normal course issuer bid, the terms and conditions of such bid, the anticipated receipt of all required regulatory approvals, and the timing associated therewith;
    • disclosures under the heading “Outlook” including:
      • expectations for steady demand across the Company’s business lines and geographic regions;
      • the potential impact of tariffs and the expectation that such impact will be mitigated by the Company’s diversified operations and proactive risk management;
      • the highly contracted Energy Infrastructure product line and the recurring nature of After-Market Services will, together, account for approximately 65% of Enerflex’s gross margin before depreciation and amortization;
      • the expectation that Engineered Systems gross margin before depreciation and amortization will be more consistent with the historical long-term average for this business line and that near term revenue will remain steady;
      • total capital expenditures in 2025 being $110 million to $130 million with growth capital spending of $40 million to $60 million focused on customer supported opportunities in the US and Middle East; and
    • the ability of Enerflex to continue to pay a sustainable quarterly cash dividend.

    FLI reflects management’s current beliefs and assumptions with respect to such things as the impact of general economic conditions; commodity prices; the markets in which Enerflex’s products and services are used; general industry conditions, forecasts, and trends; changes to, and introduction of new, governmental regulations, laws, and income taxes; increased competition; availability of qualified personnel; political unrest and geopolitical conditions; and other factors, many of which are beyond the control of Enerflex. More specifically, Enerflex’s expectations in respect of its FLI are based on a number of assumptions, estimates and projections developed based on past experience and anticipated trends, including but not limited to:

    • Enerflex has the financial capacity, regulatory compliance, and board approval necessary to pursue a normal course issuer bid and that market conditions will support such a buyback program within the anticipated timeframe;
    • any tariffs imposed will have a manageable impact on our operations and cost structure and increased domestic energy production will offset any negative effects of such tariffs;
    • market dynamics, including increased energy demand, infrastructure development, and production activity, will drive growth in natural gas and produced water volumes across Enerflex’s core operating countries;
    • market conditions, customer activity, and industry fundamentals will support stable demand across our business lines and geographic regions throughout 2025;
    • the high level of contractual commitments within the Energy Infrastructure product line and the predictable, recurring revenue from After-Market Services will continue;
    • existing customer contracts within the Energy Infrastructure product line will remain in effect and with no material cancellations or renegotiations over their remaining terms;
    • Enerflex will maintain sufficient cash flow, profitability, and financial flexibility to support the ongoing payment of a sustainable quarterly cash dividend, subject to market conditions, operational performance, and board approval.

    As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties and other factors affecting Enerflex and its business are identified under the heading “Risk Factors” in: (i) Enerflex’s Annual Information Form for the year ended December 31, 2024, dated February 27, 2025; and (ii) Enerflex’s Annual Report dated February 26, 2025, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively.

    The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.

    The outlook provided in this news release is based on assumptions about future events, including economic conditions and proposed courses of action, based on Management’s assessment of the relevant information currently available. The outlook is based on the same assumptions and risk factors set forth above and is based on the Company’s historical results of operations. The outlook set forth in this news release was approved by Management and the Board of Directors. Management believes that the prospective financial information set forth in this news release has been prepared on a reasonable basis, reflecting Management’s best estimates and judgments, and represents the Company’s expected course of action in developing and executing its business strategy relating to its business operations. The prospective financial information set forth in this news release should not be relied on as necessarily indicative of future results. Actual results may vary, and such variance may be material.

    ABOUT ENERFLEX

    Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts.

    Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.

    For investor and media enquiries, contact:

    Preet S. Dhindsa
    Interim Chief Executive Officer
    E-mail: PDhindsa@enerflex.com

    Jeff Fetterly
    Vice President, Corporate Development and Capital Markets
    E-mail: JFetterly@enerflex.com

    The MIL Network –

  • MIL-OSI: Crédit Mutuel Alliance Fédérale expands in Germany with the acquisition of OLB, making TARGOBANK a universal bancassurer

    Source: GlobeNewswire (MIL-OSI)

                                                    

    Strasbourg and Düsseldorf, March 20, 2025

    Crédit Mutuel Alliance Fédérale expands in Germany with the acquisition of OLB, making TARGOBANK a universal bancassurer

    Crédit Mutuel Alliance Fédérale has reached a major milestone in the development of its banking and insurance model in Europe with the signature of an agreement to acquire 100% of German bank Oldenburgische Landesbank (OLB) via its subsidiary TARGO Deutschland GmbH (TARGOBANK).

    This transaction, on a scale not seen since the acquisition of Citibank in Germany in 2008 (renamed TARGOBANK), demonstrates the solidity and ambitions of Crédit Mutuel Alliance Fédérale. Already present in Germany, the mutual banking group is strengthening its foothold in Europe’s largest economy.

    This move accelerates TARGOBANK’s path to becoming a universal bancassurance player in Germany, following the model of its parent company. The consolidated group will become the tenth largest bank in Germany in terms of assets, with a comprehensive offering in corporate financing serving Mittelstand companies and in retail banking.

    The estimated impact of the transaction is -115 basis points on Crédit Mutuel Alliance Fédérale’s CET1. This transaction is subject to the approval of the regulatory authorities, in particular the European Central Bank (ECB) and the competition authorities.

    Germany, the mutual banking group’s second-largest domestic market

    Crédit Mutuel Alliance Fédérale aims to become a leading bancassurer in Europe. While it was the fifth largest banking group and tenth largest insurer in France in 2024, the group already generated 20% of its revenues internationally.

    Germany is the group’s second-largest domestic market, where it operates through several of its subsidiaries, in particular TARGOBANK, ACM Deutschland, and CIC. Thanks to its financial solidity, operating performance and technological edge, the group has major advantages to enable it to succeed in this consolidating market.

    OLB, a leading bank in Germany

    Founded in Lower Saxony, one of Germany’s largest states, where it has a strong foothold, OLB is a universal bank with operations throughout Germany. Thanks to an effective strategy of sustained growth over the past ten years, it serves one million customers. With more than €30 billion in assets, it is one of the leading financial institutions in Germany.

    OLB is active in two buoyant markets. It offers strong expertise in private banking and wealth management, providing a full range of banking and insurance services to individuals and professionals. It also stands out for its expertise in corporate financing (corporate, commercial real estate) and business acquisitions (LBO and acquisition finance).

    Togetherness Performance Solidarity: a successfully launched plan in its second year

    After the first year of the Togetherness, Performance, Solidarity strategic plan which closed with very high 2024 results for Crédit Mutuel Alliance Fédérale, 2025 marks a major turning point for the mutual banking group.

    TARGOBANK’s acquisition of OLB will enable it to significantly amplify its transformation as a universal bancassurer in Germany, complementing the launch of ACM Deutschland’s commercial activities in the second half of 2025. In addition to offering rapid growth prospects for its retail mortgage lending business, TARGOBANK will be able to strengthen its position in the SME and mid-cap markets (Mittelstand companies), in wealth management and specialized financing, with the potential for synergies in revenue and cost efficiency for the medium term.

    With this transaction, TARGOBANK becomes the tenth largest bank in Germany. The consolidated group serves 4.8 million customers with total balance sheet of €79 billion.

    “The acquisition of OLB, marks a major milestone for Crédit Mutuel Alliance Fédérale, fully aligned with its strategic plan Togetherness Performance Solidarity. We have the ambition to expand our activities in Europe, and specifically in Germany, largest European economy. With our subsidiaries TARGOBANK, which will integrate OLB, and ACM Deutschland, we are committed to become a bancassurer across the Rhine” said Daniel Baal, Chairman of Crédit Mutuel Alliance Fédérale:

    “Our group’s history shows that it has the ability to successfully complete external growth transactions, in particular those of CIC, and, more recently, TARGOBANK and Cofidis. This strategic investment reflects our determination to become a leading bancassurer in Europe by integrating the resources and values of OLB into TARGOBANK. We are building for the long run.” added Éric Petitgand, Chief Executive Officer of Crédit Mutuel Alliance Fédérale.

    “This acquisition marks a decisive step in Crédit Mutuel Alliance Fédérale’s development in Germany. The respective and complementary expertise of TARGOBANK and OLB’s employees will enable us to significantly speed up our transformation as a universal bancassurer in the strategic German market. There is significant business and customer growth potential among individuals, professionals and businesses,” adds Isabelle Chevelard, Chairwoman of the Executive Board of TARGOBANK and Head of the German market for Crédit Mutuel Alliance Fédérale.

    Stefan Barth, CEO of OLB, welcomes the transaction: “Over the past few years, OLB has pursued a dynamic growth strategy with remarkable results. We are proud to join Crédit Mutuel Alliance Fédérale, with which we share common values, to build together a stronger banking group.”

    Acquisition by Crédit Mutuel Alliance Fédérale,
    via TARGO Deutschland GmbH,of Oldenburgische Landesbank AG (OLB)

    The Crédit Mutuel Alliance Fédérale and TARGOBANK teams, in accordance with the applicable competition laws, will work closely with the OLB teams to facilitate completion of the transaction in the interest of customers, members, elected representatives and employees.

    This project is subject to the usual conditions precedent and in particular the approval of the competent regulatory and competition authorities. The transaction is expected to be completed in the first half of 2026.

    About OLB

    OLB is a universal bank that operates nationwide in Germany, and has over 150 years of experience in Lower Saxony. Under the OLB and Bankhaus Neelmeyer brands, the bank advises more than a million customers, in the retail, business, corporate and diversified lending segments. OLB has a network of 80 branches and nearly 1,700 employees.

    Thanks to a solid acquisition strategy over the last ten years (private banking operator Bankhaus Neelmeyer in 2017; Bremer Kreditbank, formerly KBC Bank Deutschland, in 2018; Wüstenrot Bank AG Pfandbriefbank in 2019 and more recently Degussa Bank in 2024), OLB has diversified its activities (retail banking, corporate banking serving Mittelstand companies, private banking, project finance, Pfandbrief refinancing, etc.) to become a universal bank.

    At December 31, 2024, OLB had net banking income of nearly €750 million, a cost/income ratio of less than 43%, and net income after tax of €270 million. OLB also saw its balance sheet assets surpass the €30 billion threshold, enabling it to become, in early 2025, a major financial institution supervised as such by the European Central Bank.

    Press contacts
    Crédit Mutuel Alliance Fédérale: Aziz Ridouan – +33 (0)6 01 10 31 69 – aziz.ridouan@creditmutuel.fr
    Corporate Communication Department: +33 (0)3 88 14 84 00 – com-alliancefederale@creditmutuel.fr
    TARGOBANK: pressestelle@TARGOBANK.de
    OLB: presse@olb.de

    About Crédit Mutuel Alliance Fédérale

    One of France’s leading bancassurers with 77,000 employees serving 31 million customers, Crédit Mutuel Alliance Fédérale has 4,200 branches which offer a diversified range of services to private individuals, local professionals and companies of all sizes.

    As the first French banking group to adopt the status of a mission-driven company, Crédit Mutuel Alliance Fédérale is made up of the following Crédit Mutuel federations: Centre Est Europe (Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France) and Nord Europe (Lille).

    Crédit Mutuel Alliance Fédérale also includes Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), TARGOBANK, Cofidis, Beobank in Belgium, Banque Européenne du Crédit Mutuel (BECM), Banque Transatlantique, Banque de Luxembourg and Homiris.

    Find out more at creditmutuelalliancefederale.fr

    About TARGOBANK

    TARGOBANK has almost 100 years of experience in the German banking market. It serves 3.8 million private, business and corporate customers.

    TARGOBANK offers simple and attractive banking products with high quality service so as to build a long term relationship with its customers. With a network of 340 branches spread in more than 250 cities in Germany aswell as a service accessible online and by telephone around the clock, TARGOBANK combines the benefits of a digital bank as well as local support whether in the local branch or at the customer’s home.

    TARGOBANK is headquartered in Düsseldorf. It employs 7,400 people throughout Germany, including 2,000 working for its customer center in Germany. There are also administrative buildings in Mainz (Factoring), Düsseldorf (Leasing & Investment Finance) and Frankfurt (Corporate & Institutional Banking).

    As a subsidiary of Crédit Mutuel Alliance Fédérale, one of the strongest banks in Europe, TARGOBANK is a reliable partner for its customers.

    Further information: www.TARGOBANK.de

                                                    

    Strasbourg and Düsseldorf, March 20, 2025

    Crédit Mutuel Alliance Fédérale expands in Germany with the acquisition of OLB, making TARGOBANK a universal bancassurer

    Crédit Mutuel Alliance Fédérale has reached a major milestone in the development of its banking and insurance model in Europe with the signature of an agreement to acquire 100% of German bank Oldenburgische Landesbank (OLB) via its subsidiary TARGO Deutschland GmbH (TARGOBANK).

    This transaction, on a scale not seen since the acquisition of Citibank in Germany in 2008 (renamed TARGOBANK), demonstrates the solidity and ambitions of Crédit Mutuel Alliance Fédérale. Already present in Germany, the mutual banking group is strengthening its foothold in Europe’s largest economy.

    This move accelerates TARGOBANK’s path to becoming a universal bancassurance player in Germany, following the model of its parent company. The consolidated group will become the tenth largest bank in Germany in terms of assets, with a comprehensive offering in corporate financing serving Mittelstand companies and in retail banking.

    The estimated impact of the transaction is -115 basis points on Crédit Mutuel Alliance Fédérale’s CET1. This transaction is subject to the approval of the regulatory authorities, in particular the European Central Bank (ECB) and the competition authorities.

    Germany, the mutual banking group’s second-largest domestic market

    Crédit Mutuel Alliance Fédérale aims to become a leading bancassurer in Europe. While it was the fifth largest banking group and tenth largest insurer in France in 2024, the group already generated 20% of its revenues internationally.

    Germany is the group’s second-largest domestic market, where it operates through several of its subsidiaries, in particular TARGOBANK, ACM Deutschland, and CIC. Thanks to its financial solidity, operating performance and technological edge, the group has major advantages to enable it to succeed in this consolidating market.

    OLB, a leading bank in Germany

    Founded in Lower Saxony, one of Germany’s largest states, where it has a strong foothold, OLB is a universal bank with operations throughout Germany. Thanks to an effective strategy of sustained growth over the past ten years, it serves one million customers. With more than €30 billion in assets, it is one of the leading financial institutions in Germany.

    OLB is active in two buoyant markets. It offers strong expertise in private banking and wealth management, providing a full range of banking and insurance services to individuals and professionals. It also stands out for its expertise in corporate financing (corporate, commercial real estate) and business acquisitions (LBO and acquisition finance).

    Togetherness Performance Solidarity: a successfully launched plan in its second year

    After the first year of the Togetherness, Performance, Solidarity strategic plan which closed with very high 2024 results for Crédit Mutuel Alliance Fédérale, 2025 marks a major turning point for the mutual banking group.

    TARGOBANK’s acquisition of OLB will enable it to significantly amplify its transformation as a universal bancassurer in Germany, complementing the launch of ACM Deutschland’s commercial activities in the second half of 2025. In addition to offering rapid growth prospects for its retail mortgage lending business, TARGOBANK will be able to strengthen its position in the SME and mid-cap markets (Mittelstand companies), in wealth management and specialized financing, with the potential for synergies in revenue and cost efficiency for the medium term.

    With this transaction, TARGOBANK becomes the tenth largest bank in Germany. The consolidated group serves 4.8 million customers with total balance sheet of €79 billion.

    “The acquisition of OLB, marks a major milestone for Crédit Mutuel Alliance Fédérale, fully aligned with its strategic plan Togetherness Performance Solidarity. We have the ambition to expand our activities in Europe, and specifically in Germany, largest European economy. With our subsidiaries TARGOBANK, which will integrate OLB, and ACM Deutschland, we are committed to become a bancassurer across the Rhine” said Daniel Baal, Chairman of Crédit Mutuel Alliance Fédérale:

    “Our group’s history shows that it has the ability to successfully complete external growth transactions, in particular those of CIC, and, more recently, TARGOBANK and Cofidis. This strategic investment reflects our determination to become a leading bancassurer in Europe by integrating the resources and values of OLB into TARGOBANK. We are building for the long run.” added Éric Petitgand, Chief Executive Officer of Crédit Mutuel Alliance Fédérale.

    “This acquisition marks a decisive step in Crédit Mutuel Alliance Fédérale’s development in Germany. The respective and complementary expertise of TARGOBANK and OLB’s employees will enable us to significantly speed up our transformation as a universal bancassurer in the strategic German market. There is significant business and customer growth potential among individuals, professionals and businesses,” adds Isabelle Chevelard, Chairwoman of the Executive Board of TARGOBANK and Head of the German market for Crédit Mutuel Alliance Fédérale.

    Stefan Barth, CEO of OLB, welcomes the transaction: “Over the past few years, OLB has pursued a dynamic growth strategy with remarkable results. We are proud to join Crédit Mutuel Alliance Fédérale, with which we share common values, to build together a stronger banking group.”

    Acquisition by Crédit Mutuel Alliance Fédérale,
    via TARGO Deutschland GmbH,of Oldenburgische Landesbank AG (OLB)

    The Crédit Mutuel Alliance Fédérale and TARGOBANK teams, in accordance with the applicable competition laws, will work closely with the OLB teams to facilitate completion of the transaction in the interest of customers, members, elected representatives and employees.

    This project is subject to the usual conditions precedent and in particular the approval of the competent regulatory and competition authorities. The transaction is expected to be completed in the first half of 2026.

    About OLB

    OLB is a universal bank that operates nationwide in Germany, and has over 150 years of experience in Lower Saxony. Under the OLB and Bankhaus Neelmeyer brands, the bank advises more than a million customers, in the retail, business, corporate and diversified lending segments. OLB has a network of 80 branches and nearly 1,700 employees.

    Thanks to a solid acquisition strategy over the last ten years (private banking operator Bankhaus Neelmeyer in 2017; Bremer Kreditbank, formerly KBC Bank Deutschland, in 2018; Wüstenrot Bank AG Pfandbriefbank in 2019 and more recently Degussa Bank in 2024), OLB has diversified its activities (retail banking, corporate banking serving Mittelstand companies, private banking, project finance, Pfandbrief refinancing, etc.) to become a universal bank.

    At December 31, 2024, OLB had net banking income of nearly €750 million, a cost/income ratio of less than 43%, and net income after tax of €270 million. OLB also saw its balance sheet assets surpass the €30 billion threshold, enabling it to become, in early 2025, a major financial institution supervised as such by the European Central Bank.

    Press contacts
    Crédit Mutuel Alliance Fédérale: Aziz Ridouan – +33 (0)6 01 10 31 69 – aziz.ridouan@creditmutuel.fr
    Corporate Communication Department: +33 (0)3 88 14 84 00 – com-alliancefederale@creditmutuel.fr
    TARGOBANK: pressestelle@TARGOBANK.de
    OLB: presse@olb.de

    About Crédit Mutuel Alliance Fédérale

    One of France’s leading bancassurers with 77,000 employees serving 31 million customers, Crédit Mutuel Alliance Fédérale has 4,200 branches which offer a diversified range of services to private individuals, local professionals and companies of all sizes.

    As the first French banking group to adopt the status of a mission-driven company, Crédit Mutuel Alliance Fédérale is made up of the following Crédit Mutuel federations: Centre Est Europe (Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France) and Nord Europe (Lille).

    Crédit Mutuel Alliance Fédérale also includes Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), TARGOBANK, Cofidis, Beobank in Belgium, Banque Européenne du Crédit Mutuel (BECM), Banque Transatlantique, Banque de Luxembourg and Homiris.

    Find out more at creditmutuelalliancefederale.fr

    About TARGOBANK

    TARGOBANK has almost 100 years of experience in the German banking market. It serves 3.8 million private, business and corporate customers.

    TARGOBANK offers simple and attractive banking products with high quality service so as to build a long term relationship with its customers. With a network of 340 branches spread in more than 250 cities in Germany aswell as a service accessible online and by telephone around the clock, TARGOBANK combines the benefits of a digital bank as well as local support whether in the local branch or at the customer’s home.

    TARGOBANK is headquartered in Düsseldorf. It employs 7,400 people throughout Germany, including 2,000 working for its customer center in Germany. There are also administrative buildings in Mainz (Factoring), Düsseldorf (Leasing & Investment Finance) and Frankfurt (Corporate & Institutional Banking).

    As a subsidiary of Crédit Mutuel Alliance Fédérale, one of the strongest banks in Europe, TARGOBANK is a reliable partner for its customers.

    Further information: www.TARGOBANK.de

    Attachments

    The MIL Network –

  • MIL-OSI Russia: IMF Executive Board Concludes 2023 Article IV Consultation with El Salvador

    Source: IMF – News in Russian

    March 19, 2025

    Washington, DC: On March 20, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with El Salvador.

    Despite a series of adverse external shocks, the Salvadoran economy has fared relatively well to date, and is estimated to have grown by 2.8 percent in 2022. Annual inflation jumped to 7¼ percent, mainly due to high global food prices while fuel price inflation was moderated by large subsidies. Vulnerabilities mounted, with international reserves falling below 2 months of imports. In the context of limited financing options, the fiscal deficit narrowed to 2½ percent of GDP, but fiscal policy is expected to turn expansionary in 2023. Under current policies, public debt is on an unsustainable path. 

    The economy is expected to grow by 2.4 percent in 2023, but the outlook is fragile, given the macroeconomic imbalances and a less favorable international environment. A comprehensive and credible policy package is urgently needed to put public debt on a firmly declining path and strengthen macroeconomic and financial stability.

    Over a year after the adoption of Bitcoin as legal tender, its use has been minimal but risks for financial and market integrity, financial stability, and consumer protection remain and need to be addressed. 

    Executive Board Assessment[2]

    Executive Directors noted the strong post‑pandemic recovery supported by the authorities’ timely responses to shocks and the improved security situation. Pointing to the fragile outlook amid rising risks and vulnerabilities, Directors urged the authorities to adopt a comprehensive plan to address macroeconomic imbalances, including unsustainable public debt and limited reserve coverage, along with structural reforms to support stronger, inclusive growth.

    Directors welcomed recent fiscal efforts but underscored the urgent need for an ambitious fiscal consolidation plan, based on greater revenue mobilization and efficiency of spending, including better targeting energy subsidies and social safety nets and rightsizing the wage bill. This is critical to put public debt on a firm downward trajectory and allow a gradual return to international capital markets. Restoring and upgrading the Fiscal Responsibility Law would also improve the transparency and credibility of fiscal policy. Directors stressed the importance of ensuring the sustainability of the pension system to limit contingent liabilities.

    Directors noted that the banking system remains healthy but cautioned against rising exposures to the sovereign and the erosion of liquidity buffers. They called for raising banks’ reserve requirements, enacting promptly the Financial Stability Bill, closing regulatory gaps, and continuing to implement the 2020 Safeguards Assessment recommendations.

    Directors underscored the importance of narrowing the scope of the Bitcoin law and removing Bitcoin’s legal tender status. They noted that while Bitcoin has had a minimal impact on financial inclusion, high risks to financial integrity and stability, fiscal sustainability, and consumer protection persist. Directors urged that Bitcoin transactions be transparently disclosed, together with the financial statements of public companies operating in the Bitcoin ecosystem. They also called on the authorities to carefully weigh the implications of the new crypto assets legislation and avoid expanding government exposure to Bitcoin.

    Directors stressed the importance of structural reforms to strengthen governance, the investment climate and productivity. They called for continued efforts to strengthen fiscal transparency, public procurement, AML/CFT legislation, and the independence of the judicial system. Directors also stressed the importance of enhancing human capital, infrastructure, and climate resilience, as well as continuing to upgrade the statistical framework.

    El Salvador: Selected Economic Indicators

    I. Social Indicators

    		  

    Per capita income (U.S. dollars, 2021)

    4,408

    		  

    Population (million, 2021)

    6.5

    		  

    Percent of pop. below poverty line (2021)

    24.6

    		  

    Gini index (2019)

    		  

    39

    		  
                     

    II. Economic Indicators (percent of GDP, unless otherwise indicated)

    		  
     
               

    Proj.

    		  

    2018

    2019

    2020

    2021

    2022

    2023

    2024

    		  
                     

    Income and Prices

    		                

    Real GDP growth (percent)

    2.4

    2.4

    -8.2

    10.3

    2.8

    2.4

    1.9

    		  

    Consumer price inflation (average, percent)

    1.1

    0.1

    -0.4

    3.5

    7.2

    4.1

    2.1

    		  

    Terms of trade (percent change)

    -3.9

    1.7

    4.8

    -7.6

    -1.6

    5.0

    0.7

    		  

    Sovereign bond spread (basis points)

    424

    453

    760

    837

    1,485

    …

    …

    		  
                     

    Money and Credit

    		                

    Credit to the private sector

    57.3

    59.1

    66.3

    61.8

    63.1

    61.2

    60.0

    		  

    Broad money

    54.8

    59.1

    70.4

    61.5

    58.5

    58.5

    60.5

    		  

    Interest rate (time deposits, percent)

    4.2

    4.3

    4.1

    3.9

    …

    …

    …

    		  
                     

    External Sector

    		                

    Current account balance 

    -3.3

    -0.4

    0.8

    -5.1

    -8.3

    -5.4

    -5.3

    		  

    Trade balance

    -21.7

    -21.2

    -21.0

    -28.6

    -31.4

    -27.5

    -27.4

    		  

    Transfers (net)

    20.6

    21.0

    24.4

    25.9

    24.0

    22.9

    22.4

    		  

    Foreign direct investment

    -3.2

    -2.4

    -1.1

    -1.1

    -0.2

    -1.6

    -2.2

    		  

    Gross international reserves (mill. of US$)

    3,569

    4,446

    3,083

    3,426

    2,440

    2,798

    3,382

    		  
                     

    Nonfinancial Public Sector

    		                

    Overall balance

    -2.7

    -3.1

    -8.2

    -5.6

    -2.5

    -3.4

    -3.4

    		  

    Primary balance

    0.9

    0.6

    -3.8

    -1.1

    2.2

    0.3

    0.4

    		  

    Of which: tax revenue

    18.0

    17.7

    18.5

    20.1

    20.3

    19.0

    19.0

    		  

    Public sector debt 1/

    70.4

    71.3

    89.4

    82.4

    77.2

    76.1

    78.3

    		  
                     

    National Savings and Investment

    		                

    Gross domestic investment

    18.4

    18.3

    18.9

    22.2

    20.7

    19.8

    19.4

    		  

    Private sector 2/

    15.7

    15.9

    16.9

    19.6

    18.8

    17.4

    17.1

    		  

    National savings

    15.1

    17.9

    19.8

    17.1

    12.4

    14.5

    14.2

    		  

    Private sector

    14.7

    18.0

    25.4

    19.5

    12.8

    14.9

    14.9

    		  
                     

    Net Foreign Assets of the Financial System

    		                

    Millions of U.S. dollars

    2,655

    3,372

    3,618

    3,022

    1,114

    1,227

    1,400

    		  
                     

    Memorandum Items

    		                

    Nominal GDP (billions of US$)

    26.0

    26.9

    24.6

    28.7

    31.6

    33.7

    35.1

    		  
                     

    Sources: Central Reserve Bank of El Salvador, Ministry of Finance, and IMF staff estimates.

    		  

    1/ Gross debt of the nonfinancial public sector.

    		  

    2/ Includes inventories.

    		  

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/03/19/pr25069-el-salvador-imf-executive-board-concludes-2023-article-iv-consultation-with-el-salvador

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Canada: 2025-26 Budget: Delivering For You

    Source: Government of Canada regional news

    Released on March 19, 2025

    Saskatchewan’s 2025-26 Provincial Budget is delivering for the people of Saskatchewan.

    Deputy Premier and Finance Minister Jim Reiter tabled a budget today that delivers on the priorities of Saskatchewan people – affordability, health care, education, safer communities and responsible financial management – while addressing the challenges of a growing province.

    “We understand this budget is being delivered at a very volatile time, due to the constantly changing tariff threats from the United States,” Reiter said. “Right now, we do not know what tariffs the U.S. may impose or how long they may last. As a result, it was not possible to build the exact impact of tariffs into the budget.

    “However, we are not letting the tariff threat prevent us from following through on our commitments to the people of Saskatchewan. Our strong financial position means we are well-positioned to weather the impact of any tariffs that may be imposed on Canada and Saskatchewan.”

    As a signal of strong financial management, the Government of Saskatchewan is delivering a balanced budget in 2025-26, with a surplus of $12 million.

    Affordability

    In the 2025-26 Budget, the Government of Saskatchewan continues to take action to ensure the province remains the most affordable place in Canada to live, work, raise a family and start a business.

    The budget reduces income taxes for every resident, family and small business in the province. It also helps make life more affordable for seniors, families with children, persons with disabilities, caregivers, new graduates, first-time homebuyers and people renovating their homes.

    The taxation changes introduced in the 2025-26 Budget, including the initiatives in The Saskatchewan Affordability Act, provide over $250 million in tax savings this year. This is in addition to the more than $2 billion in affordability measures in each and every budget.

    The affordability measures in the 2025-26 Budget include those that help make life more affordable and those that support our growing province. Among the measures are:

    • Raising the basic personal exemption, spousal and equivalent-to-spousal exemption, dependent child exemption and the seniors supplement by $500 a year, for the next four years – over and above the impact of indexation – for the largest personal income tax reduction in the province since 2008;
    • Increasing monthly income assistance benefits by two per cent for Saskatchewan Income Support (SIS) and Saskatchewan Assured income for Disability (SAID) clients;
    • Increasing the Disability Tax Credit and Caregiver Tax Credit by 25 per cent;
    • Doubling the Active Families Benefit refundable tax credit from $150 to $300 per child and doubling the income threshold to qualify to $120,000 to make children’s sports, arts, cultural and recreational activities more affordable for more Saskatchewan families;
    • Reinstating the Home Renovation Tax Credit, which will allow homeowners to save up to $420 annually in home renovation expenses, while seniors undertaking home renovations can save up to $525; 
    • Increasing the Graduate Retention Program benefit by 20 per cent to a maximum of $24,000; and
    • Permanently maintaining the small business tax rate at one per cent, benefiting more than 35,000 small businesses in Saskatchewan and saving them over $50 million in corporate income taxes annually.

    Property owners will also receive relief in this year’s budget. All education property tax mill rates will be reduced to absorb the increase in property assessment values and ensure this assessment year is revenue neutral for the province in each property class. This change will save property owners in the province more than $100 million annually.

    This is in addition to the Government of Saskatchewan extending the carbon tax exemption on home heating, which is expected to save the average Saskatchewan family approximately $480 in 2025.

    Health Care

    The 2025-26 Budget delivers better patient access and safer, more responsive care for Saskatchewan residents.

    Over the last two years, the Government of Saskatchewan has invested $15.7 billion in health care in the province. In the 2025-26 Budget:

    • The Ministry of Health receives a record $8.1 billion, an increase of $485 million, or 6.4 per cent;
    • The Saskatchewan Health Authority receives an increase of $261 million, or 5.6 per cent, for a record $4.9 billion budget; and
    • The Saskatchewan Cancer Agency receives $279 million, an increase of $30 million, or 12.2 per cent.

    This funding will provide better access to acute care programs and services to improve patient outcomes, such as:

    • Reducing surgical wait times as part of an ambitious plan to perform 450,000 procedures over four years; and
    • Realigning services at Saskatoon City Hospital to address inpatient capacity pressures by opening more than 100 beds.

    Mental health and addictions programs and services receive $624 million – 7.7 per cent of the overall Health budget – to deliver critical support and investments in Saskatchewan, including an increase of $20 million for targeted initiatives. This includes continued progress on the multi-year Mental Health and Addictions Action Plan, and expanded access to mental health and addictions services and care by delivering on the commitment to add 500 addictions treatment spaces across the province, doubling the public health system’s capacity.

    To ensure the professionals are in place to provide health care services, this year’s budget accelerates the hiring of health care professionals through the Health Human Resources Action Plan.

    The 25-26 Budget also invests in steady and significant progress on multiple infrastructure projects.

    Due to the positive response to the Regina Urgent Care Centre, planning is underway for additional urgent care centres in Moose Jaw, Prince Albert and North Battleford, as well as second urgent care centres in Regina and Saskatoon. 

    The budget also provides new capital funding for the expansion of Complex Needs Emergency Shelters in new communities, building on the pilot projects in Regina and Saskatoon. 

    Overall, health capital funding will increase by $140 million, for a total of $657 million – the highest ever capital budget to deliver major health infrastructure projects.

    Education

    Kindergarten to Grade 12

    The 2025-26 Budget delivers increased opportunities and supports for kindergarten to Grade 12 students, parents and teachers across Saskatchewan. 

    Over the last two years, more than $5 billion has been invested in kindergarten to Grade 12 education. In this year’s budget, the Ministry of Education receives $3.5 billion, an increase of $184 million, or 5.5 per cent, over the previous year. That includes an increase of $186 million, or 8.4 per cent, in school operating funding for a total of $2.4 billion.

    The 2025-26 Budget also includes an increase of $130 million to fund the new teacher collective agreement and address growing student enrollment and the challenges facing today’s classrooms. 

    Building on the success of last year’s pilot project in eight Saskatchewan schools, the budget provides funding for 50 additional specialized support classrooms throughout the province. The specialized classrooms help reduce interruptions by providing additional supports to students who need them. 

    Student literacy is another area of emphasis in the 2025-26 Budget. Learning to read is one of the most valuable skills developed during childhood and sets the foundation for lifelong academic success. For this reason, this year’s budget provides additional funding to improve kindergarten to Grade 3 reading levels in Saskatchewan.

    The budget delivers on the challenges of student enrolment growth by investing in new schools with a $191 million school capital budget. This includes ongoing funding for the 21 new or consolidated schools and three major renovations underway across Saskatchewan, as well as funding to begin planning for one new replacement school and preplanning for four new schools in the Saskatoon area.

    Post-Secondary

    The 2025-26 Budget also supports students as they advance into post-secondary education. It provides opportunities that will allow students to pursue post-secondary education close to home while focusing on programs that meet the needs of Saskatchewan’s labour force and provincial economy.

    The Ministry of Advanced Education receives $788 million in this year’s budget, with $1.6 billion invested in post-secondary education over the past two years. As part of their budget, universities, technical schools, Indigenous institutions and regional colleges will receive $718 million in operating and capital funding.

    Health care training is a key priority as part of the province’s Health Human Resources Action Plan. New and expanded programs will help build a stronger health care workforce to meet the needs of Saskatchewan residents, including training seats in areas of critical need. This includes supporting:

    • 60 new training seats this year – more than 900 training seats overall – for nurse practitioners, registered psychiatric nurses and medical radiologic technologists; and
    • Four new training programs that will be ready to accept students in fall 2025 (physician assistant) and fall 2026 (speech-language pathology, occupational therapy, respiratory therapy).

    The 2025-26 Budget also delivers work on strategies to address veterinary services in rural and urban communities. This includes working toward an expansion of the Western College of Veterinary Medicine in the future.

    To help ensure predictable and stable funding for the province’s post-secondary institutions, the 2025-26 Budget extends the current multi-year funding agreement for an additional year. The extension will allow government and post-secondary institutions time to work through the potential impacts of the federal government’s reduction of foreign student visas, before engaging in another multi-year funding agreement.

    Community Safety

    The 2025-26 Budget delivers safer communities across the province by enhancing the presence of law enforcement in Saskatchewan. 

    Over the last two years, $2 billion has been invested into community safety. For the upcoming fiscal year, the Ministry of Corrections, Policing and Public Safety will receive $798 million, including $119 million for the Saskatchewan Public Safety Agency, while the Ministry of Justice and Attorney General will receive $271 million.

    Increases to the Municipal Police Grant Program will help frontline officers respond to more calls for service, while increased funding for the RCMP will support operations in the province and the RCMP First Nations Policing Program. The budget also includes funding for previous commitments for approximately 100 new municipal police officers, 14 new Safer Communities and Neighbourhoods personnel and funding for the Saskatchewan Police College to train more officers in the province.

    This enhanced law enforcement presence extends to the border with the United States. The Saskatchewan Border Security Plan was introduced in January 2025 to mobilize Provincial Protective Services officers to work in partnership with provincial policing services and federal agencies to boost law enforcement near the border.

    To complement the increased presence of law enforcement personnel, the 2025-26 Budget includes funding to improve safety for correctional staff, offenders and the public, as well as address capacity concerns at correctional facilities. 

    Additional investments will be made in interpersonal violence programs and services, including second-stage housing. The budget also delivers funding to create a more accessible court system for municipal bylaw offences and ensuring cases are complete and ready to move to trial more quickly. 

    Delivering More For You

    The 2025-26 Budget delivers on the priorities of affordability, health care, education, community safety and fiscal responsibility. However, it delivers more than that. Some of the other important initiatives in this year’s budget include:

    • A record $362 million in municipal revenue sharing, an increase of $22 million, or 6.3 per cent, from 2024-25.
    • New funding to start multi-year repair and renovation projects for 285 Saskatchewan Housing Corporation-owned units in Saskatoon, Regina and Prince Albert.
    • Funding for expanded homelessness services developed through the Provincial Approach to Homelessness. This includes investments in the Rental Development Program to partner with third-party organizations to develop new supportive housing units for people who need additional support to live independently.
    • Over the past two years, funding from the Ministry of Social Services has created 120 new emergency shelter spaces, 155 new supportive housing spaces, new street outreach services and an expanded income assistance mobile workforce serving clients on-site at more than 30 community-based organization locations.
    • A grant to the Food Banks of Saskatchewan to fulfill the Government of Saskatchewan’s two-year commitment to help families and food banks with high food costs.
    • A $20 million increase across government in funding for community-based organizations.
    • The creation of a new Saskatchewan Young Entrepreneur Bursary, which is an annual grant of $285,000 for a maximum of 57 bursaries distributed to support youth entrepreneurship in the province.
    • The creation of a new Small and Medium Enterprise Investment Tax Credit, a 45 per cent non-refundable tax credit for individuals or corporations that invest in the equity of an eligible Saskatchewan small and medium size enterprise.
    • Introduction of the Low Productivity and Reactivation Oil Well Program to encourage industry to make new capital investments in low-producing and inactive horizontal oil wells.
    • Investment in capital projects that will improve our provincial transportation system, including:
      • Passing lanes for Highway 10 between Fort Qu’Appelle and Melville, and Highway 17 north of Lloydminster;
      • Highway 39 twinning at Weyburn; 
      • Ongoing corridor improvements on Highway 5 east of Saskatoon; and 
      • Improvements of more than 1,000 kilometres of provincial highways.

    Fiscal Responsibility

    The surplus forecast for the 2025-26 Budget leaves Saskatchewan in one of the strongest financial positions among provinces.

    The surplus is driven by forecast revenues of $21.1 billion, an increase of $1.2 billion, or 6 per cent, compared to last year. Total expense is projected to be $21.0 billion, which is an increase of $909 million, or 4.5 per cent, from the 2024-25 Budget.

    Non-Renewable Resources revenue accounts for 12.8 per cent of total expense in this year’s budget. 

    Another sign of Saskatchewan’s strong financial position is the province’s net debt position, which remains the second lowest net debt-to-GDP ratio among Canadian provinces at 14.6 per cent. 

    The Government of Saskatchewan’s prudent financial management is also reflected in the province’s credit ratings. Saskatchewan currently maintains the second-best credit rating among the provinces when the ratings from the three major agencies – Moody’s Investors Service, Morningstar DBRS and S&P Global – are considered.

    Saskatchewan’s strong financial position in this year’s budget is buoyed by the provincial economy’s solid performance in 2024. Building upon this momentum, the Saskatchewan economy is expected to continue to grow in 2025 with real GDP projected to grow by 1.8 per cent according to the average private-sector forecast. 

    For more information on the 2025-26 Provincial Budget, please review the budget materials and ministry news releases on saskatchewan.ca/budget. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI New Zealand: Banking and Finance – Further drops to ASB’s fixed mortgage rates

    Source: ASB

    ASB has today reduced several of its fixed home lending rates by up to 20 basis points, marking the bank’s fifth fixed rate mortgage drop in 2025. ASB is reducing its 6-month rate by 10 basis points from 5.89% to 5.79%, while the longer-term 4-and-5-year rates have dropped to 5.59% and 5.69% respectively.

    ASB’s Executive General Manager Personal Banking Adam Boyd says “We’ve been consistent in our ambition to support New Zealanders on their home ownership journey with lower mortgage rates and today’s announcement is our fifth decrease to fixed mortgage rates this year. We’re seeing a growing number of customers splitting their mortgages across different terms to hedge their bets in the current climate, and we’re pleased to be able to offer a range of lending options to suit homeowners’ and homebuyers’ diverse needs.”  

    ASB has also lowered some of its term deposit rates by between 5 and 20 basis points.

    All rate decreases are effective immediately.

     

      Fixed home lending term

    Previous rate

    New rate

    Rate decrease

    6-month

    5.89%

    5.79%

    – 10 bps

    4-year

    5.79%

    5.59%

    – 20 bps

    5-year

    5.79%

    5.69%

    – 10 bps

     

    MIL OSI New Zealand News –

  • MIL-OSI Banking: 2025 Annual Meetings: Regional corridors as drivers of continental integration

    Source: African Development Bank Group
    “It is only via regional corridors that we will be able to move goods and services easily across the continent, reduce transport costs, encourage integration and achieve effective economic development,” Dr Akinwumi Adesina, President of the African Development Bank Group, said recently.

    MIL OSI Global Banks –

  • MIL-OSI New Zealand: Finance – ‘Rate wars’ could see borrowers go long again – CoreLogic

    Source: CoreLogic

    As more new and existing borrowers begin to benefit from lower mortgage rates following the Reserve Bank of New Zealand’s (RBNZ) cutting cycle, market turnover levels and property values should continue to trend higher in the coming months.

    The ‘Chart of the Month’ from CoreLogic NZ’s March Housing Chart Pack looks at RBNZ data, revealing that, in January, only 10% of new borrowers across the country opted for fixed terms longer than 12 months. (ref. https://www.corelogic.co.nz/news-research/reports/housing-chart-pack )

    In other words, 90% of borrowers chose a floating or short-fixed rate (6-12 months).

    CoreLogic NZ Chief Property Economist Kelvin Davidson said while loans fixed for longer than 12 months remained unpopular in January, the recent emergence of ‘rate wars’ suggests borrowing behaviour will be something to watch closely.

    “Around 71% of NZ’s existing mortgages by value are currently fixed but due to reprice onto a new mortgage rate soon, and another 12% is floating. Over the past two-to-three years, these repricing events have generally meant a higher mortgage rate for borrowers.

    “However, that situation has now turned around again, and with rate wars recently emerging among lenders offering lower 2-3 year fixed rates, we could start to see a shift back towards them pretty shortly.

    “Both for new borrowers and those repricing existing loans. In other words, the fixation with short-fixes might be about to come to an end,” Mr Davidson said.

    He added that loan sizes remain relatively low in compared to incomes, meaning debt-to-income (DTI) ratios are under control.

    Mr Davidson emphasised that the market is also unlikely to see an immediate switch in power from buyers to sellers.

    “The stock of listings available to purchase is currently at its highest level for this time of year since at least 2018, which means buyers can still take their time to try and achieve a deal in their favour.”

    “For investors, lower mortgage rates will make new property purchases more affordable, which have required significant top-ups from other income sources over the past couple of years.”

    Overall, Mr Davidson predicts that 2025 is likely to see a subdued upturn in the property market.

    “We’re just at the beginning of seeing the first clear signs that the downturn in property values has come to an end.”

    “The CoreLogic Home Value Index recorded a 0.3% rise in February, with Christchurch and Dunedin both increasing by 0.6%, and even the previously weak Wellington area seeing a mild 0.1% lift.”

    “Nationally, property values could rise further by around 5% this year,” he concluded.
    Highlights from the March 2025 Housing Chart Pack include:

    New Zealand’s residential real estate market is worth a combined $1.64 trillion.
    The CoreLogic Home Value Index shows property values across New Zealand increased 0.3% in the month of February. Over the three months to February, there was a minor 0.1% rise in median property values across NZ.

    The total sales count over the 12 months to March is 82,757.
    Total listings on the market were 31,838 in February to be 26% up on the five-year average. Total listing counts in Northland and Waikato are lower than last year, but Canterbury, Wellington, Otago, and Gisborne have seen sizeable increases of 10% and more.
    Rental market conditions remain in favour of tenants, as net migration eases down from its very high peak, and the stock of available rental listings on the market stays elevated.
    Gross rental yields now stand at 3.9%, which Is the highest level since mid-2015.
    Inflation is firmly back in the 1–3% target range, and with February’s 0.5% cut, further OCR reductions seem likely in the coming months.
    The Chart of the Month shows that just 10% of new borrowers in January nationwide chose fixed terms longer than 12 months, while 90% opted for floating or short-term fixed rates (6-12 months). This borrowing behaviour will be worth monitoring as banks potentially lower key rates a little further in the coming months.

    Download and subscribe to the monthly CoreLogic Housing Chart Pack at corelogic.co.nz/news-research/reports/housing-chart-pack.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Several steps taken to enhance implementation of NMDFC schemes across the nation

    Source: Government of India (2)

    Posted On: 19 MAR 2025 5:05PM by PIB Delhi

    The disbursement target of National Minorities Development and Finance Corporation (NMDFC) for the financial year 2024-25 is Rs. 850.00 crore and NMDFC has disbursed Rs. 752.23 crore to over 1,74,148 beneficiaries till 10th March 2025.

    NMDFC has delegated the authority to its State Channelizing Agencies (SCAs) to sanction, disburse & recover loan from beneficiaries. The beneficiaries are selected as per following eligibility criteria for release of concessional credit:

    1. Person should belong to notified National Minority viz., Buddhists, Christians, Jains, Muslims, Parsis and Sikhs as per National Commission for Minorities Act, 1992.
    2. Person having annual family income of upto Rs. 3.00 lakhs under Credit Line 1 and upto Rs. 8.00 lakhs under Credit Line 2.

    The applicants are required to submit the necessary documents for meeting the above eligibility criteria. To ensure that credit support reaches genuine and deserving minority beneficiaries, the SCAs have adopted a multi-level screening mechanism for document verification, background checks & site inspections before sanction of loan. Further, the sanctioned amount is released through Direct Benefit Transfer (DBT) into the KYC authenticated beneficiary account.

    In order to enhance the implementation of NMDFC schemes across the nation, following steps have been taken by NMDFC:

    1. Enhancing the annual family income limit under Credit Line 1 from Rs. 98,000/- in  rural areas & Rs. 1,20,000/- in urban areas to Rs. 3.00 lakh per annum in both rural & urban areas.
    2. Introduction of new Annual Family Income eligibility criterion of up to Rs.8.00 lakh per annum for greater coverage of persons from the targeted minority communities.
    3. Quantum of loan under Term Loan scheme increased from Rs.10.00 lakh to Rs.30.00 lakh while under Micro Finance scheme, it has been increased from Rs.50,000/- to Rs.1.50 lakh per Self Help Group member.  Under Education Loan scheme, the quantum of loan has been increased from Rs.5.00 lakh to Rs.20.00 lakh for domestic courses & from Rs.10.00 lakh to Rs.30.00 lakh for courses abroad.
    4. Introduction of Virasat Scheme to meet the credit requirement of Artisans belonging to target group.
    5. Self-Declaration/Self Certification/Self Attestation of documents is introduced in case of Religion Certificate, Family Income, Residence Proof, Mark Sheet, etc.
    6. Transfer of loan directly in Bank Account of Beneficiary through NEFT/RTGS.
    7. Insurance of beneficiary and their assets to safeguard against any untoward incident.
    8. Signing of MoU with Canara Bank, Union Bank of India, Indian Bank & Punjab Gramin Bank to increase the outreach of NMDFC schemes in the States/UTs where SCAs are non-functional.
    9. NMDFC has also developed MILAN Software to streamline and digitize the loan and accounting processes between applicants, State Channelizing Agencies (SCAs) and NMDFC.

    This information was given by the Union Minister of Minority Affairs & Parliamentary Affairs, Shri Kiren Rijiju in a written reply in the Lok Sabha today.

    ***

    SS/ISA

    (Release ID: 2112851) Visitor Counter : 13

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Simpson County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Simpson County

    Disaster Recovery Center Opens in Simpson County

    FRANKFORT, Ky

    –A Disaster Recovery Center will open tomorrow, March 20, in Simpson County

    Disaster Recovery Centers, operated by the Kentucky Division of Emergency Management and FEMA, offer in-person support to survivors in declared counties as the result of severe storms, straight-line winds, flooding, landslides and mudslides from February

      FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    The deadline to apply for federal assistance is April 25

    Address: Simpson County Courthouse, 100 Courthouse Square, Franklin KY 42134Hours: 7 a

    m

    to 7 p

    m

    CDT Monday through Saturday and 1 to 7 p

    m

    CDT on SundaysMore Disaster Recovery Centers will continue to open in the counties eligible for disaster assistance

     In addition to FEMA personnel, representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will be available at the recovery centers to assist survivors

    If you are unable to visit the center, there are other ways to apply: online at DisasterAssistance

    gov, use the FEMA mobile app or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For an accessible video on how to apply for FEMA assistance, go to youtube

    com/watch?v=WZGpWI2RCNw

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Wed, 03/19/2025 – 14:01

    MIL OSI USA News –

  • MIL-OSI: Great Southern Bancorp, Inc. announces quarterly dividend of $0.40 per common share

    Source: GlobeNewswire (MIL-OSI)

    SPRINGFIELD, Mo., March 19, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Great Southern Bancorp, Inc. (NASDAQ:GSBC), the holding company for Great Southern Bank, declared a $0.40 per common share dividend for the first quarter of the calendar year ending December 31, 2025.

    The dividend will be payable on April 14, 2025, to stockholders of record on March 31, 2025. This dividend represents the 141st consecutive quarterly dividend paid by the Company to common stockholders.

    About Great Southern Bank

    With total assets of $6.0 billion, Great Southern offers a broad range of banking services to commercial and consumer customers. Headquartered in Springfield, Missouri, Great Southern operates 89 retail banking centers in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska and commercial lending offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Omaha, and Phoenix. The common stock of Great Southern Bancorp, Inc. is listed on the Nasdaq Global Select Market under the symbol “GSBC.”

    CONTACT:

    Zack Mukewa,
    Investor Relations,
    (616) 233-0500
    GSBC@lambert.com

    The MIL Network –

  • MIL-OSI Europe: Briefing – Outlook for the meetings of EU leaders on 20-21 March 2025 – 19-03-2025

    Source: European Parliament

    The first quarter of 2025 has been a very busy one for the European Council, with EU leaders having already convened three times before their regular March meeting – once for an informal retreat on defence on 3 February, in a video-conference on 26 February and then for a special European Council meeting on 6 March. The increasingly complex geopolitical situation, as well as the current strains on the transatlantic relationship, make the regular March meeting a crucial one. According to the Leaders’ Agenda, the meeting was expected to concentrate mainly on competitiveness, but due to recent events many items have been added to the agenda, including Ukraine, the Middle East and defence. As usual, the meeting will start with an exchange of views with European Parliament President Roberta Metsola. EU leaders will also have a discussion with Ukrainian President Volodymyr Zelenskyy. There will be a working lunch with United Nations Secretary-General António Guterres, dedicated to multilateralism and other global issues. In the afternoon, a Euro Summit meeting will take place in inclusive format, with European Central Bank President, Christine Lagarde, and Eurogroup President, Paschal Donohoe, taking part in the discussions on economic issues and competitiveness.

    MIL OSI Europe News –

  • MIL-OSI Global: Eight ways to reduce your stroke risk – no matter what age you are

    Source: The Conversation – UK – By Siobhan Mclernon, Senior Lecturer, Adult Nursing and co-lead, Ageing, Acute and Long Term Conditions. Member of Health and Well Being Research Center, London South Bank University

    Sarayut Sridee/Shutterstock

    As a nurse working in a neurocritical care, I witnessed the sudden and devastating effects of stroke on survivors and their carers.

    Following my nursing career, I became a researcher specialising in stroke. Knowledge of stroke risk factors in the general public is poor, so stroke prevention is a priority for public health.

    Stroke is a leading cause of death and disability in England – yet it is largely preventable. It’s often considered an older person’s illness but, although stroke risk does increase with age, it can happen at any time of life. In fact, stroke incidence is increasing among adults below the age of 55 years.

    Stroke risk factors that tend to be more common among older people – such as high blood pressure (hypertension), high cholesterol, obesity, diabetes, smoking, physical inactivity and poor diet – are increasingly found in younger people. Other lifestyle risks include heavy alcohol consumption or binge drinking and recreational drugs such as amphetamines, cocaine and heroin.



    Read more:
    Stroke: young people can have them too – here’s how to know if you’re at risk and what to look out for

    Some risk factors are not modifiable such as age, sex, ethnicity, family history of stroke, genetics and certain inherited conditions. Women, for example, are particularly susceptible to strokes – and women of all ages are more likely than men to die from a stroke.

    Stroke risks unique to women include pregnancy and some contraceptive pills (especially for smokers), as well as endometriosis, premature ovarian failure (before 40 years of age), early-onset menopause (before 45 years of age) and oestrogen for transgender women.

    Also, inherited vascular abnormalities such as cerebral aneurysms – a weakness in the artery wall – can increase the risk of haemorrhagic stroke.

    Some risk factors are social rather than biological, however. Studies have found that people with a lower income and education level are at a higher risk of having a stroke. This is due to a combination of factors. Unhealthy lifestyle habits, such as smoking, heavier drinking and lower physical activity levels are more common in people with lower incomes.



    Read more:
    Rising income inequalities are linked to unhealthy diets and loneliness

    However, research also shows that people with lower socioeconomic status are less likely to receive good quality healthcare than people with higher incomes.

    But, regardless of biological or social risk factors, there are things you can do – right now – to reduce your risk of having a stroke.

    Essential eight

    1. Stop smoking Smokers are more than twice as likely to have a stroke than non-smokers. Smoking causes damage to blood vessel walls, increases blood pressure and heart rate but reduces oxygen levels. Smoking also causes blood to become sticky, further increasing the risk of blood clots that can block blood vessels and cause a stroke.

    2. Keep blood pressure in check High blood pressure damages the walls of blood vessels, making them weaker and more prone to rupture or blockage. It can also cause blood clots to form, which can then travel to the brain and block blood flow, leading to a stroke. If you’re over 18 years of age, get your blood pressure checked regularly so, if you do show signs of developing high blood pressure, you can nip it in the bud and make appropriate changes to your lifestyle to help reduce your risk of stroke.

    3. Keep an eye on your cholesterol According to the UK Stroke Association your risk of a stroke is nearly three and a half times higher if you have both high cholesterol and high blood pressure. To lower cholesterol, aim to keep saturated fat – found in fatty meats, butter, cheese, and full-fat dairy – below 7% of your daily calories, stay active and maintain a healthy weight.



    Read more:
    How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

    4. Watch your blood sugar High blood glucose levels are linked to an increased risk of stroke. This is because high blood sugar damages blood vessels, which can lead to blood clots that travel to the brain. To reduce blood glucose levels, try to take regular exercise, eat a balanced diet rich in fibre, drink enough water, maintain a healthy weight, and try to manage stress.

    5. Maintain a healthy weight Being overweight is one of the main risk factors for stroke. It is associated with almost one in five strokes, and increases your stroke risk by 22%. Being obese raises that risk by 64%. Carrying too much weight increases your risk of high blood pressure, heart disease, high cholesterol and type 2 diabetes, which all contribute to higher stroke risk.

    6. Follow a Mediterranean diet One way to eat a fibre-rich balanced diet and maintain a healthy weight is to follow a Mediterranean diet. This has been shown to reduce the risk of stroke, especially when supplemented with nuts and olive oil.

    7. Sleep well Try to to get seven to nine hours of sleep daily. Too little sleep can lead to high blood pressure, one of the most important modifiable risk factors for stroke. Too much sleep, however, is also associated with increased stroke risk, so try to stay as active as possible so you can sleep as well as possible.



    Read more:
    Exercise really can help you sleep better at night – here’s why that may be

    8. Stay active The NHS recommends that people should avoid prolonged sedentary behaviour and aim for at least 150 minutes of moderate intensity activity or 75 minutes of vigorous intensity activity a week. Exercise should be spread evenly over four to five days a week, or every day. Do strengthening activities, usually more than two days per week.

    The good news is that while the effects of stroke can be devastating and life-changing, it is largely preventable. Adopting these eight simple lifestyle changes can help to reduce stroke risk and optimise both heart and brain health.

    Siobhan Mclernon 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. Eight ways to reduce your stroke risk – no matter what age you are – https://theconversation.com/eight-ways-to-reduce-your-stroke-risk-no-matter-what-age-you-are-251524

    MIL OSI – Global Reports –

  • MIL-OSI: The Clearing House SVP of Product Strategy Ben Isaacson Named Co-Chair of Financial Data Exchange (FDX) Board 

    Source: GlobeNewswire (MIL-OSI)

    SALT LAKE CITY, March 19, 2025 (GLOBE NEWSWIRE) — Financial Data Exchange (FDX), a CFPB-recognized standard-setting body for Open Banking in the U.S., recently announced that Ben Isaacson, Senior Vice President of Product Strategy at The Clearing House, has been appointed as FDX Board Co-Chair. Isaacson has been a member of the FDX Board since 2019 and brings extensive expertise in financial data standards, payments innovation, and industry collaboration.

    “We are very grateful to have Ben stepping into this role at such a pivotal time for the industry,” shared Kevin Feltes, CEO of FDX. “His leadership and long-standing commitment to advancing industry standards will be invaluable as we continue driving forward on key initiatives in financial data sharing.”

    As SVP of Product Strategy at The Clearing House, Isaacson has worked closely with financial institutions, regulators, and industry stakeholders to modernize financial data standards. His leadership in driving innovation aligns with FDX’s mission to create a unified, interoperable, and more secure open banking ecosystem.

    “I’m honored to step into the role of FDX Co-Chair and continue working alongside Jane Barratt and the broader FDX community,” said Ben Isaacson. “FDX has made incredible progress in standardizing more secure data sharing, and I look forward to contributing to its ongoing success.”

    About FDX
    Financial Data Exchange (FDX) is a non-profit organization operating in the US and Canada that is dedicated to unifying the financial industry around a common, interoperable, royalty-free standard for secure and convenient consumer and business access to their financial data. FDX empowers users through its commitment to the development, growth, and industry-wide adoption of the FDX API, according to the principles of control, access, transparency, traceability, and security. Membership is open to financial institutions, fintech companies, financial data aggregators, consumer advocacy groups, payment networks and other industry stakeholders. For more information and to join, visit www.financialdataexchange.org.

    Contact info:
    Porche Matthews
    Marketing Manager
    pmatthews@financialdataexchange.org

    The MIL Network –

  • MIL-OSI Global: Eight ways to reduce your stroke risk – by an expert in vascular brain injury

    Source: The Conversation – UK – By Siobhan Mclernon, Senior Lecturer, Adult Nursing and co-lead, Ageing, Acute and Long Term Conditions. Member of Health and Well Being Research Center, London South Bank University

    Sarayut Sridee/Shutterstock

    As a nurse working in a neurocritical care, I witnessed the sudden and devastating effects of stroke on survivors and their carers.

    Following my nursing career, I became a researcher specialising in stroke. Knowledge of stroke risk factors in the general public is poor, so stroke prevention is a priority for public health.

    Stroke is a leading cause of death and disability in England – yet it is largely preventable. It’s often considered an older person’s illness but, although stroke risk does increase with age, it can happen at any time of life. In fact, stroke incidence is increasing among adults below the age of 55 years.

    Stroke risk factors that tend to be more common among older people – such as high blood pressure (hypertension), high cholesterol, obesity, diabetes, smoking, physical inactivity and poor diet – are increasingly found in younger people. Other lifestyle risks include heavy alcohol consumption or binge drinking and recreational drugs such as amphetamines, cocaine and heroin.



    Read more:
    Stroke: young people can have them too – here’s how to know if you’re at risk and what to look out for

    Some risk factors are not modifiable such as age, sex, ethnicity, family history of stroke, genetics and certain inherited conditions. Women, for example, are particularly susceptible to strokes – and women of all ages are more likely than men to die from a stroke.

    Stroke risks unique to women include pregnancy and some contraceptive pills (especially for smokers), as well as endometriosis, premature ovarian failure (before 40 years of age), early-onset menopause (before 45 years of age) and oestrogen for transgender women.

    Also, inherited vascular abnormalities such as cerebral aneurysms – a weakness in the artery wall – can increase the risk of haemorrhagic stroke.

    Some risk factors are social rather than biological, however. Studies have found that people with a lower income and education level are at a higher risk of having a stroke. This is due to a combination of factors. Unhealthy lifestyle habits, such as smoking, heavier drinking and lower physical activity levels are more common in people with lower incomes.



    Read more:
    Rising income inequalities are linked to unhealthy diets and loneliness

    However, research also shows that people with lower socioeconomic status are less likely to receive good quality healthcare than people with higher incomes.

    But, regardless of biological or social risk factors, there are things you can do – right now – to reduce your risk of having a stroke.

    Essential eight

    1. Stop smoking Smokers are more than twice as likely to have a stroke than non-smokers. Smoking causes damage to blood vessel walls, increases blood pressure and heart rate but reduces oxygen levels. Smoking also causes blood to become sticky, further increasing the risk of blood clots that can block blood vessels and cause a stroke.

    2. Keep blood pressure in check High blood pressure damages the walls of blood vessels, making them weaker and more prone to rupture or blockage. It can also cause blood clots to form, which can then travel to the brain and block blood flow, leading to a stroke. If you’re over 18 years of age, get your blood pressure checked regularly so, if you do show signs of developing high blood pressure, you can nip it in the bud and make appropriate changes to your lifestyle to help reduce your risk of stroke.

    3. Keep an eye on your cholesterol According to the UK Stroke Association your risk of a stroke is nearly three and a half times higher if you have both high cholesterol and high blood pressure. To lower cholesterol, aim to keep saturated fat – found in fatty meats, butter, cheese, and full-fat dairy – below 7% of your daily calories, stay active and maintain a healthy weight.



    Read more:
    How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

    4. Watch your blood sugar High blood glucose levels are linked to an increased risk of stroke. This is because high blood sugar damages blood vessels, which can lead to blood clots that travel to the brain. To reduce blood glucose levels, try to take regular exercise, eat a balanced diet rich in fibre, drink enough water, maintain a healthy weight, and try to manage stress.

    5. Maintain a healthy weight Being overweight is one of the main risk factors for stroke. It is associated with almost one in five strokes, and increases your stroke risk by 22%. Being obese raises that risk by 64%. Carrying too much weight increases your risk of high blood pressure, heart disease, high cholesterol and type 2 diabetes, which all contribute to higher stroke risk.

    6. Follow a Mediterranean diet One way to eat a fibre-rich balanced diet and maintain a healthy weight is to follow a Mediterranean diet. This has been shown to reduce the risk of stroke, especially when supplemented with nuts and olive oil.

    7. Sleep well Try to to get seven to nine hours of sleep daily. Too little sleep can lead to high blood pressure, one of the most important modifiable risk factors for stroke. Too much sleep, however, is also associated with increased stroke risk, so try to stay as active as possible so you can sleep as well as possible.



    Read more:
    Exercise really can help you sleep better at night – here’s why that may be

    8. Stay active The NHS recommends that people should avoid prolonged sedentary behaviour and aim for at least 150 minutes of moderate intensity activity or 75 minutes of vigorous intensity activity a week. Exercise should be spread evenly over four to five days a week, or every day. Do strengthening activities, usually more than two days per week.

    The good news is that while the effects of stroke can be devastating and life-changing, it is largely preventable. Adopting these eight simple lifestyle changes can help to reduce stroke risk and optimise both heart and brain health.

    Siobhan Mclernon 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. Eight ways to reduce your stroke risk – by an expert in vascular brain injury – https://theconversation.com/eight-ways-to-reduce-your-stroke-risk-by-an-expert-in-vascular-brain-injury-251524

    MIL OSI – Global Reports –

  • MIL-OSI: Pushpay Announces Leadership Transition and the Appointment of Kenny Wyatt as New CEO

    Source: GlobeNewswire (MIL-OSI)

    REDMOND, Wash., March 19, 2025 (GLOBE NEWSWIRE) — Pushpay, the leading payments and engagement solutions provider for mission-driven organizations, announces the appointment of Kenny Wyatt as CEO, leading Pushpay into its next chapter of innovation to strengthen connections, enhance generosity, and empower ministries with transformative technology. This planned leadership transition comes as current CEO, Molly Matthews, transitions into a new role as Senior Advisor to the Board on April 1, 2025, which is when Wyatt will take the helm as Pushpay’s CEO.

    “Serving as CEO of Pushpay has been one of the greatest privileges of my career. While this transition marks a new chapter for me personally, my advisory role supports my commitment to the company’s long-term vision and continued success,” said Matthews. “Kenny has already made a tremendous impact since joining Pushpay, and his vision for our company is inspiring and bold. His deep passion for the Church, customer-centric leadership, and commitment to our mission makes him the right leader to propel Pushpay into the future.”

    Currently serving as Pushpay President, Wyatt is an accomplished leader with a diverse background in technology, telecom, and faith-tech industries. He has held leadership roles at major corporations such as Bank of America, Sprint, Vonage, CenturyLink, and was previously CEO at think-cell. More notably, Wyatt previously served as the Chief Operating Officer at Faithlife and has a deep understanding of the needs of the Church. He is eager to weave together his professional expertise with his personal passion for ministry as he steps into the CEO role at Pushpay. He resides in Castle Rock, CO, with his family and is actively involved in their local church, in addition to global ministry programs. Wyatt will be based out of Pushpay’s Colorado Springs office, while maintaining an active presence at the company’s headquarters in Redmond, Wa.

    “I’ve followed the Pushpay journey for quite some time and am honored for the opportunity to lead Pushpay into the future,“ said Wyatt. “Pushpay is undoubtedly the leader in our category, but I truly believe we’re just getting started. As ministry leaders navigate a rapidly evolving digital landscape, it’s a privilege to be at the forefront of technology innovation that enables them to expand their reach, deepen engagement, and serve their communities more effectively.”

    Over the years, Pushpay has played a pivotal role in helping lead the digital transformation of the Church, reshaping how mission-driven organizations connect, give, and engage with their communities. As CEO, Wyatt aims to build on Pushpay’s long-standing foundation, focusing immediate efforts on meeting the evolving needs of the Church through modernized customer support and bold product innovation.

    To support this strategy, today Pushpay is also pleased to announce Gruia Pitigoi-Aron has joined the Company as its Chief Product Officer. Pitigoi-Aron brings more than two decades of experience in product leadership, including a 10-year tenure at The Trade Desk, where he led the product and UX teams to create the leading independent demand side platform in ad-tech. He has dedicated time to serve on nonprofit boards that align with his personal and professional passions including current leadership at Redeem International, Mount Hermon Camp and Conference Center, and is actively involved in his local church as an elder.

    “Pushpay’s mission deeply resonates with me personally and I’m honored to join a team that’s passionate about serving the Church and committed to delivering solutions that empower ministries to grow and thrive,” said Pitigoi-Aron. “As we look to the future, our team has an ambitious vision for the future of our products, rooted in serving the needs of ministry leaders and their community.”

    Gratitude for an Era of Impact
    During Matthews’ tenure, both as CEO and Chief Customer Officer, Pushpay has solidified its position as a market leader in church engagement technology, expanding its ChMS, giving, and engagement solutions through key acquisitions, including Church Community Builder and Resi Media. These strategic additions have enabled churches to seamlessly manage their ministries, enhance digital engagement, and reach their communities through high-quality livestreaming and analytics-driven insights. Today, Pushpay technology facilitates nearly 1.3 million moments of connection each week, helping churches and nonprofits foster deeper relationships and maximize their impact. As she joins Pushpay’s Senior Advisory Board, Matthews will continue to provide strategic guidance, leveraging her expertise to support the ongoing success of Pushpay and its more than 14,000 customers. To learn more about Pushpay and the transition, visit www.pushpay.com.

    About Pushpay
    Pushpay empowers mission-driven organizations to engage their communities by bringing people together and fostering meaningful connections. Through its innovative suite of products, Pushpay helps create cultures of generosity by streamlining donation processes, enhancing communications, and strengthening relationships. Pushpay’s purpose-built ministry solutions include ChurchStaq, ParishStaq, Pushpay Insights, Resi, and more – all designed to simplify operations and provide data-driven insights to support the mission of its customers. Whether managing donations, organizing events, or connecting with community members, Pushpay’s integrated tools enable ministry leaders to focus on what matters most – growing their ministry and deepening engagement. For more information visit www.pushpay.com.

    US Media / PR Contact: Chelsea Looney PR@pushpay.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/680296c6-1a11-47a9-8e08-89e56ff74260

    The MIL Network –

  • MIL-OSI: Landsbankinn hf.: Results of the 2025 AGM of Landsbankinn

    Source: GlobeNewswire (MIL-OSI)

    The annual general meeting (AGM) of Landsbankinn, held on 19 March 2025, agreed to pay a dividend amounting to ISK 18,892 million to shareholders.

    The dividend is equivalent to 50% of 2024 profits. The dividend will be paid in two tranches, firstly on 26 March 2025 and secondly on 17 September 2025. As a result, total dividend paid by the Bank in the years 2013-2025 amounts to ISK 210.6 billion.

    At the AGM, held in Reykjastræti 6, Jón Thorvarður Sigurgeirsson, Chairman of the Board of Directors, delivered the report from the Board of Directors for 2024. Lilja Björk Einarsdóttir, CEO, spoke of the Bank’s operation, strategy and activities in the past operating year.

    The Bank’s annual financial statement was approved, as was the proposed Remuneration Policy and remuneration to Directors of the Board. The AGM elected Ríkisendurskoðun as the company’s auditor for the 2025 operating year. The Auditor General, in accordance with an authorisation to outsource tasks, and following a tender process, has nominated auditing firm PricewaterhouseCoopers ehf. as auditor of the company’s annual financial statement for the operating year 2025.

    The following persons were elected Directors and Alternates to sit on the Board of Landsbankinn hf. until its next AGM:

    Directors:

    • Jón Thorvarður Sigurgeirsson (Chairman)
    • Eva Halldórsdóttir
    • Kristján Th. Davíðsson
    • Rebekka Jóelsdóttir
    • Steinunn Thorsteinsdóttir
    • Thór Hauksson
    • Örn Guðmundsson

    Alternates:

    • Sigurður Jón Björnsson
    • Stefanía G. Halldórsdóttir

    Hjörleifur Pálsson was elected as external member to the Bank’s Audit Committee.

    For further information contact:

    Rúnar Pálmason, Public Relations, pr@landsbankinn.is

    Hanna Kristín Thoroddsen, Investor Relations, ir@landsbankinn.is

    Attachment

    The MIL Network –

  • MIL-OSI: EIB submits SEC Form 18-K/A Amendment n. 14 – Entry into force of change to EIB Statute

    Source: GlobeNewswire (MIL-OSI)

    For immediate release

    19 March 2025

    EIB submits SEC Form 18-K/A Amendment No. 14

    The European Investment Bank (EIB) has submitted its SEC Form 18-K/A Amendment No. 14.

    To view the document, please go to EDGAR Filing Documents for 0000950157-25-000239

    The 18-K/A has also been posted on the EIB website:

    Amendment to the Annual Report 2023 (Form 18-K/A Amendment No 14)

    ENDS

    The MIL Network –

  • MIL-OSI Global: Eight ways to reduce your stroke risk – no matter what your age you are

    Source: The Conversation – UK – By Siobhan Mclernon, Senior Lecturer, Adult Nursing and co-lead, Ageing, Acute and Long Term Conditions. Member of Health and Well Being Research Center, London South Bank University

    Sarayut Sridee/Shutterstock

    As a nurse working in a neurocritical care, I witnessed the sudden and devastating effects of stroke on survivors and their carers.

    Following my nursing career, I became a researcher specialising in stroke. Knowledge of stroke risk factors in the general public is poor, so stroke prevention is a priority for public health.

    Stroke is a leading cause of death and disability in England – yet it is largely preventable. It’s often considered an older person’s illness but, although stroke risk does increase with age, it can happen at any time of life. In fact, stroke incidence is increasing among adults below the age of 55 years.

    Stroke risk factors that tend to be more common among older people – such as high blood pressure (hypertension), high cholesterol, obesity, diabetes, smoking, physical inactivity and poor diet – are increasingly found in younger people. Other lifestyle risks include heavy alcohol consumption or binge drinking and recreational drugs such as amphetamines, cocaine and heroin.



    Read more:
    Stroke: young people can have them too – here’s how to know if you’re at risk and what to look out for

    Some risk factors are not modifiable such as age, sex, ethnicity, family history of stroke, genetics and certain inherited conditions. Women, for example, are particularly susceptible to strokes – and women of all ages are more likely than men to die from a stroke.

    Stroke risks unique to women include pregnancy and some contraceptive pills (especially for smokers), as well as endometriosis, premature ovarian failure (before 40 years of age), early-onset menopause (before 45 years of age) and oestrogen for transgender women.

    Also, inherited vascular abnormalities such as cerebral aneurysms – a weakness in the artery wall – can increase the risk of haemorrhagic stroke.

    Some risk factors are social rather than biological, however. Studies have found that people with a lower income and education level are at a higher risk of having a stroke. This is due to a combination of factors. Unhealthy lifestyle habits, such as smoking, heavier drinking and lower physical activity levels are more common in people with lower incomes.



    Read more:
    Rising income inequalities are linked to unhealthy diets and loneliness

    However, research also shows that people with lower socioeconomic status are less likely to receive good quality healthcare than people with higher incomes.

    But, regardless of biological or social risk factors, there are things you can do – right now – to reduce your risk of having a stroke.

    Essential eight

    1. Stop smoking Smokers are more than twice as likely to have a stroke than non-smokers. Smoking causes damage to blood vessel walls, increases blood pressure and heart rate but reduces oxygen levels. Smoking also causes blood to become sticky, further increasing the risk of blood clots that can block blood vessels and cause a stroke.

    2. Keep blood pressure in check High blood pressure damages the walls of blood vessels, making them weaker and more prone to rupture or blockage. It can also cause blood clots to form, which can then travel to the brain and block blood flow, leading to a stroke. If you’re over 18 years of age, get your blood pressure checked regularly so, if you do show signs of developing high blood pressure, you can nip it in the bud and make appropriate changes to your lifestyle to help reduce your risk of stroke.

    3. Keep an eye on your cholesterol According to the UK Stroke Association your risk of a stroke is nearly three and a half times higher if you have both high cholesterol and high blood pressure. To lower cholesterol, aim to keep saturated fat – found in fatty meats, butter, cheese, and full-fat dairy – below 7% of your daily calories, stay active and maintain a healthy weight.



    Read more:
    How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

    4. Watch your blood sugar High blood glucose levels are linked to an increased risk of stroke. This is because high blood sugar damages blood vessels, which can lead to blood clots that travel to the brain. To reduce blood glucose levels, try to take regular exercise, eat a balanced diet rich in fibre, drink enough water, maintain a healthy weight, and try to manage stress.

    5. Maintain a healthy weight Being overweight is one of the main risk factors for stroke. It is associated with almost one in five strokes, and increases your stroke risk by 22%. Being obese raises that risk by 64%. Carrying too much weight increases your risk of high blood pressure, heart disease, high cholesterol and type 2 diabetes, which all contribute to higher stroke risk.

    6. Follow a Mediterranean diet One way to eat a fibre-rich balanced diet and maintain a healthy weight is to follow a Mediterranean diet. This has been shown to reduce the risk of stroke, especially when supplemented with nuts and olive oil.

    7. Sleep well Try to to get seven to nine hours of sleep daily. Too little sleep can lead to high blood pressure, one of the most important modifiable risk factors for stroke. Too much sleep, however, is also associated with increased stroke risk, so try to stay as active as possible so you can sleep as well as possible.



    Read more:
    Exercise really can help you sleep better at night – here’s why that may be

    8. Stay active The NHS recommends that people should avoid prolonged sedentary behaviour and aim for at least 150 minutes of moderate intensity activity or 75 minutes of vigorous intensity activity a week. Exercise should be spread evenly over four to five days a week, or every day. Do strengthening activities, usually more than two days per week.

    The good news is that while the effects of stroke can be devastating and life-changing, it is largely preventable. Adopting these eight simple lifestyle changes can help to reduce stroke risk and optimise both heart and brain health.

    Siobhan Mclernon 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. Eight ways to reduce your stroke risk – no matter what your age you are – https://theconversation.com/eight-ways-to-reduce-your-stroke-risk-no-matter-what-your-age-you-are-251524

    MIL OSI – Global Reports –

  • MIL-OSI Security: Dublin man pleads guilty to 3 armed bank robberies

    Source: Office of United States Attorneys

    COLUMBUS, Ohio – A central Ohio man pleaded guilty in U.S. District Court today to federal crimes related to three separate armed bank robberies. 

    Hussein A. Mohamed, 27, of Dublin, pleaded guilty to three counts of committing bank robbery, three counts of conspiring to commit bank robbery, and brandishing a firearm during a crime of violence.

    Mohamed admitted to committing three armed bank robberies in Columbus within a week in April 2024.

    According to court documents, on April 11, 2024, Mohamed robbed the Telhio Credit Union on North Hamilton Road. He wore a dark Patagonia sweatshirt, light ripped jeans, white covid mask and black winter hat. Mohamed showed the bank teller a note on his cell phone that demanded cash and indicated he had a gun.

    On April 16, 2024, Mohamed committed two separate armed robberies.

    First, at approximately 4pm, he robbed a Fifth Third Bank on Bethel Road. He wore a red sweatshirt, light jeans, blue covid mask and black New Balance shoes. Again, he showed the teller a note on his phone demanding money and indicating he had a gun.

    About 45 minutes later, he committed another bank robbery, this time at Huntington Bank on North High Street. Mohamed had changed clothes between the robberies.

    At this final robbery, Mohamed showed his phone to one bank teller, who provided him with cash. He then told another teller to empty her drawer. When that victim told Mohamed she did not have any money in her drawer, Mohamed pulled a black firearm from the waist area of his pants, racked the slide on the handgun, and forced the tellers into the vault room while making threats.

    For reach of the three robberies, Mohamed conspired with another individual who was present in the vehicle used to travel to and from the robberies.

    Law enforcement officials recovered the clothing that Mohamed wore at each robbery, a loaded handgun, Mohamed’s wallet and identification at an apartment on Merriwick Crossing Drive in Columbus.

    He was arrested in May 2024.

    Bank robbery is a federal crime punishable by up to 20 years in prison. Conspiring to commit bank robbery carries a potential maximum penalty of five years in prison. Brandishing a firearm during a crime of violence is punishable by a mandatory seven years and up to life in prison, to run consecutively to any other sentence imposed. Congress sets minimum and maximum statutory sentences. Sentencing of the defendant will be determined by the Court based on the advisory sentencing guidelines and other statutory factors at a future hearing.

    Kelly A. Norris, Acting United States Attorney for the Southern District of Ohio, and Elena Iatarola, Special Agent in Charge, Federal Bureau of Investigation (FBI), Cincinnati Division, announced the guilty plea entered today before U.S. District Judge Michael H. Watson. Assistant United States Attorneys Damoun Delaviz and Elizabeth A. Geraghty are representing the United States in this case.

    # # #

    MIL Security OSI –

  • MIL-OSI: North Dallas Bank & Trust Co. Declares Regular Dividend

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, March 19, 2025 (GLOBE NEWSWIRE) — On March 18, 2025, the Board of Directors of North Dallas Bank & Trust Co. (OTCBB: NODB) declared a regular dividend of $0.10 per share, payable to shareholders of record as of April 18, 2025, with said dividend payable on April 24, 2025.

    The current dividends are based on NDBT’s current financial condition and are not a guarantee that dividends will continue to be paid in the future. Further information about NDBT’s dividend declaration is available from Glenn Henry, Chief Financial Officer.

    ABOUT NDBT  
    Founded in 1961, NDBT (North Dallas Bank & Trust Co.) is an independent community bank with five banking centers located in Dallas, Addison, Frisco, Las Colinas, and Plano. Headquartered on the corner of Preston Road and LBJ at 12900 Preston Road in Dallas, NDBT is dedicated to helping people make smarter choices in business and life by offering authentic banking solutions, wealth management, and innovative online banking tools. Member FDIC. NDBT is an Equal Housing Lender. For more information, call 972.716.7100, or visit online at www.ndbt.com. 

    Media Contact:
    Brian C. Jensen
    972-716-7124
    brian.jensen@ndbt.com

    The MIL Network –