Category: Business

  • MIL-OSI Video: Green Ambitions, Real Trade-Offs | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    More than half of the world’s largest 2,000 companies have embedded climate targets in their corporate strategy, though less than 20% of them consider the impact of such targets on workers, communities, consumers, or supply chains.

    What actions and principles can help the private sector enable an equitable green transition?

    Speakers: Fifi Peters, Dan Jørgensen, Juan Pablo Mata, Laurence Tubiana, J. Jon Imaz

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

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    https://www.youtube.com/watch?v=UQoThL5AKow

    MIL OSI Video

  • MIL-OSI USA: 02.27.2025 Sen. Cruz Reintroduces the Stop Dangerous Sanctuary Cities Act

    US Senate News:

    Source: United States Senator for Texas Ted Cruz

    WASHINGTON, D.C. – U.S. Senator Ted Cruz (R-Texas), a member of the Senate Judiciary Committee, reintroduced the Stop Dangerous Sanctuary Cities Act. The bill would allow local law enforcement to cooperate with federal immigration authorities and would pull taxpayer-funded grants to sanctuary cities.
    Upon introduction, Sen. Cruz said, “Sanctuary cities continue to defy the law by releasing dangerous criminals back into our communities instead of turning them over to federal immigration authorities. These policies jeopardize the safety of American citizens and undermine both public safety and the rule of law. We should hold these jurisdictions accountable, and the Senate should expeditiously take up and advance this legislation.”
    The bill was also cosponsored by Sens. Kevin Cramer (R-N.D.), Tim Sheehy (R-Mont.), Ron Johnson (R-Wis.), James Lankford (R-Okla.), Chuck Grassley (R-Iowa), Pete Ricketts (R-Neb.), Rick Scott (R-Fla.), Ted Budd (R-N.C.), Shelley Moore Capito (R-W.Va.), Deb Fischer (R-Neb.), Bill Hagerty (R-Tenn.), John Hoeven (R-N.D.), Cindy Hyde-Smith (R-Miss.), and Jim Banks (R-Ind.).
    Read the bill text here.
    BACKGROUND
    Sen. Cruz previously introduced the Stop Dangerous Sanctuary Cities Act in 2023.

    MIL OSI USA News

  • MIL-OSI USA: Kaine, Shaheen, Senate Foreign Relations Committee Democrats Statement on Trump Administration’s Reckless Termination of U.S. Foreign Assistance Programs

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

    WASHINGTON, D.C. —Today, U.S. Senator Tim Kaine (D-VA), joined Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Foreign Relations Committee (SFRC), and his fellow SFRC colleagues Chris Coons (D-DE), Chris Murphy (D-CT), Jeff Merkley (D-OR), Cory Booker (D-NJ), Brian Schatz (D-HI), Chris Van Hollen (D-MD), Tammy Duckworth (D-IL) and Jacky Rosen (D-NV), issued the following statement on the Trump Administration’s reckless termination of nearly all U.S. foreign assistance programs:

    “It is clear that the Trump Administration’s foreign assistance ‘review’ was not a serious effort or attempt at reform but rather a pretext to dismantle decades of U.S. investment that makes America safer, stronger and more prosperous. There is no indication Secretary Rubio conducted a program-by-program review of the more than 9,000 awards or considered the dire national security implications of these rash actions. Ending programs first and asking questions later only jeopardizes millions of lives and creates a power vacuum for our adversaries like China and Russia to fill.

    “While it’s easy to assume that these cuts will only affect people thousands of miles away, the fact is, the impact will be felt by American farmers who will no longer get top dollar for their crops to feed the hungry, churches who will no longer have the support of the U.S. government in their missions, American families who fall sick when diseases like Zika, Ebola and Malaria once again reach our shores and U.S. biotech companies who will no longer sell their drugs to treat the vulnerable overseas. Secretary Rubio should immediately come before our Committee. We expect him to not only consult with Congress but follow the law.”

    MIL OSI USA News

  • MIL-OSI USA: Warren, Blumenthal, Duckworth Ramp Up Investigation Into MOHELA’s Predatory Website Terms of Use

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    February 27, 2025

    Lawmakers hit loan servicer for efforts to infringe on borrowers’ legal rights 

    With Education Department’s future uncertain, MOHELA’s behavior raises concerns about ability to keep student loan servicers in check

    “MOHELA has imposed an exploitative set of Terms upon all borrowers that set up an account on its website…(Y)our response indicates a worrying disregard for borrowers’ rights.” 

    Text of Letter (PDF) | MOHELA Response to November 2024 Letter (PDF)

    Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.), Tammy Duckworth (D-Ill.), and Richard Blumenthal (D-Conn.) wrote to the student loan servicer Missouri Higher Education Loan Authority (MOHELA) with continued concerns over its website’s Terms of Use (TOU), which appear to be written with the intent to relieve MOHELA of liability for severe misconduct and may infringe upon student loan borrowers’ legal rights.  

    MOHELA has repeatedly shirked its basic responsibilities as a federal student loan servicer and has been repeatedly penalized by ED for doing so. In November 2024, the Senators wrote to MOHELA to raise their initial concerns about the company’s tactics. The loan servicer’s response evaded questions, failed to provide a reasonable justification for the predatory provisions in its TOU, and made multiple false assertions. 

     In its response, MOHELA: 

    • Falsely claimed its TOU are in line with industry standards, even though MOHELA appears to have written its TOU to absolve it of much more severe wrongdoing compared to other major federal loan servicers’ TOU;
    • Provided unconvincing explanations for its TOU provisions disclaiming any responsibility that its website contain “accurate or reliable” information and disclaiming any responsibility for correcting any “defects” on the website; and
    • Failed to justify exploitative TOU sections that appear to undermine borrowers’ rights to hold MOHELA accountable for financial harms, including by limiting its liability to $100 “for all claims arising” from use of its website and making borrowers’ “sole (legal) remedy” for dissatisfaction with MOHELA’s website to stop using the website.  

    “MOHELA’s explanations fail to provide persuasive justifications for these provisions…(and the t)erms are clearly written and designed to absolve MOHELA of wide swaths of damages even in the cases of significant wrongdoing,” wrote the senators

    MOHELA’s terms may also violate federal consumer protection law. The Consumer Financial Protection Act (CFPA) prohibits abusive contracts, including those that take “unreasonable advantage” of “unequal bargaining power.” That could apply to MOHELA’s TOU, since borrowers assigned to MOHELA have no choice but to sign the TOU and cannot choose a different loan servicer. MOHELA did not address the senators’ concerns in this area. 

    The lawmakers urged the loan servicer to remove all predatory provisions from its TOU and asked MOHELA to provide clarity on its decision to impose it on borrowers by March 13, 2025.   

    Senator Warren has led the fight to reform our higher education system, cancel student loan debt, and hold student loan servicers accountable:

    • In February 2025, Senators Elizabeth Warren and Andy Kim (D-N.J.) released responses to Committee questions for the record from Donald Trump’s pick for Secretary of Education, Linda McMahon, in which McMahon states that she “wholeheartedly” agrees with Trump’s plans to abolish the Department of Education.
    • In February 2025, during the Senate’s consideration of the Republican budget resolution, Senators Elizabeth Warren and Ed Markey (D-Mass.) proposed an amendment to protect higher education funding in Massachusetts.   
    • In February 2025, Senators Elizabeth Warren, Jeff Merkley (D-Ore.), Ron Wyden (D-Ore.), and Amy Klobuchar (D-Minn.), led 32 Democratic senators in writing to President Donald Trump, demanding that he reject Congressional Republicans’ legislative plans to increase the cost of living, including education costs, for Americans after pledging to lower costs on “Day One” of his presidency.
    • In February 2025, in advance of her confirmation hearing, Senators Elizabeth Warren and Andy Kim (D-N.J.), sent Linda McMahon, Secretary-Designate for the U.S. Department of Education, a 12-page letter with 65 questions on her policy views. 
    • In February 2025, following Elon Musk and DOGE forcing their way into the Department of Education, Senator Elizabeth Warren and Minority Leader Schumer (D-N.Y.) led a coalition of Democrats in demanding the Department of Education launch an investigation into Musk and DOGE’s access to federal student loan data. 
    • In January 2025, Senator Elizabeth Warren sent Elon Musk, Chair of the Department of Government Efficiency (DOGE), a letter detailing over 30 proposals that would cut at least $2 trillion of wasteful government spending over the next decade, including through saving on education programs. 
    • In December 2024, Senators Elizabeth Warren, Richard Blumenthal (D-Conn.), Jeff Merkley (D-Ore.), and Ron Wyden (D-Ore.) revealed the alarming findings of a Senate investigation into millions of consumer credit reporting errors that occurred during the transfer of student loan accounts from Nelnet to MOHELA in 2023. The senators urged the CFPB and ED to investigate these errors and use their supervisory and enforcement authority to hold the appropriate parties accountable.
    • In December 2024, Senator Elizabeth Warren (D-Mass.) and Congresswoman Madeleine Dean (D-PA) led 24 lawmakers in sending a bicameral letter to Consumer Financial Protection Bureau Director Rohit Chopra and Federal Trade Commission Chair Lina Khan, revealing the results of their investigation into Navient regarding its cancellation process for the predatory, for-profit student loans in its portfolio and urging the agencies to hold the student loan servicer accountable for any violations of federal law. 
    • In November 2024, Senators Elizabeth Warren (D-Mass.), Richard Blumenthal (D-Conn.), Chris Van Hollen (D-Md.), and Tammy Duckworth (D-Ill.) sent a letter blasting MOHELA for abusing borrowers with potentially illegal, exploitative terms of use.
    • In October 2024, Senator Elizabeth Warren (D-Mass.) Dick Durbin (D-Ill.), Sheldon Whitehouse (D-R.I.), and Raphael Warnock (D-Ga.) sent a letter to the Department of Justice (DOJ) and Department of Education (ED) commending the agencies on their progress in helping borrowers who are struggling financially to discharge their student loans in bankruptcy and asking them to continue expanding awareness of the Biden-Harris administration’s new policy.
    • In October 2024, Senator Elizabeth Warren (D-Mass.) celebrated new federal student debt relief, bringing the total number of Americans who have had their debt canceled under the Public Service Loan Forgiveness (PSLF) program during the Biden-Harris Administration to a historic 1 million people and counting.
    • In September 2024, Senators Warren (D-Mass.) and Merkley (D-Ore.) released a new report examining the impact of the Biden-Harris administration’s new Higher Education Act rule, finding that low- and middle-income borrowers, seniors, women, and Black borrowers will receive enormous benefits from the new rule.
    • In August 2024, Senator Warren joined Senators Jeff Merkley, Ron Wyden (D-Ore.), and Richard Blumenthal (D-Conn.) to launch an investigation into the reported mishandling of student loan transfers by MOHELA, Nelnet and credit reporting agencies.
    • In August 2024, Senator Warren (D-Mass.) and Representative Madeleine Dean (D-Pa.) led over 30 lawmakers in a letter urging student loan servicer Navient to reform its flawed process to cancel the private student loans of borrowers who attended fraudulent, for-profit colleges.
    • In July 2024, Senators Warren, Ron Wyden, Chris Van Hollen, and Bernie Sanders, sent a letter to Secretary of Education Miguel Cardona, cautioning the Department of Education on Federal Student Aid’s transition to the Unified Servicing and Data Solution system.
    • In July 2024, Senators Warren, Schumer, and Sanders released a joint statement on the American Federation of Teachers’ lawsuit against MOHELA for allegedly overcharging and misleading student loan borrowers.
    • In May 2024, Senators Warren and King led their colleagues in a letter to Education Secretary Miguel Cardona, urging them to provide guidance and communication to borrowers as the Public Service Loan Forgiveness program transfers from MOHELA to the Department of Education. 
    • In May 2024, Senator Warren led a growing coalition of senators in urging the Department of Education to hold student loan servicer MOHELA accountable for its failures.
    • In May 2024, Senator Warren and 24 members of the U.S. Senate sent a letter to Senator Tammy Baldwin, Chair of the Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies, and Senator Shelley Moore Capito, Ranking Member of the Subcommittee, encouraging them to provide $2.7 billion in funding to the Office of Federal Student Aid (FSA) in fiscal year (FY) 2025.
    • In May 2024, Senators Warren, Carper, Kaine, and Representative Don Davis (D-N.C.) called on the Department of Defense (DoD) to release data on the Postsecondary Education Complaint System (PECS), a centralized database to track complaints against schools who participate in the Tuition Assistance (TA) and My Career Advancement Account Scholarship (MyCAA) program.
    • In April 2024, Senator Warren led eight of her colleagues in sending a letter to David L. Yowan, President and Chief Executive Officer of student loan servicer Navient, urging the servicer to cancel decades-old private student loans pushed onto borrowers attending fraudulent, for-profit colleges.
    • In April 2024, Senators Warren, Blumenthal, Markey, and Van Hollen released a new report: Servicing Scandals: Student Loan Servicers’ Failures During Return to Repayment, which reveals a decades-long pattern of student loan servicer incompetence and misconduct that has affected millions of borrowers nationwide.
    • In April 2024, Senator Elizabeth Warren led a hearing on student loan servicer Higher Education Loan Authority of the State of Missouri (MOHELA) and its failures during borrowers’ return to repayment, including MOHELA’s mismanagement of the Public Service Loan Forgiveness program. 
    • In March 2024, Senators Elizabeth Warren and Ron Wyden (D-Ore.), Chair of the Senate Finance Committee, along with U.S. Representatives Ayanna Pressley (D-Mass.), Pramila Jayapal (D-Wash.), Raúl Grijalva (D-Ariz.), and John Larson (D-Conn.), led their colleagues in calling on the Social Security Administration (SSA), the U.S. Department of the Treasury (Treasury), and the U.S. Department of Education to end the practice of offsetting Social Security benefits to pay off defaulted student loans. 
    • In February 2024, Senator Warren, Majority Leader Chuck Schumer (D-N.Y.), and Senator Bernie Sanders (I-Vt.) released a statement calling for an investigation into student loan mismanagement by MOHELA.
    • In January 2024, Senators Warren, Schumer, Sanders, Senator Raphael Warnock (D-Ga.), and Senator Alex Padilla (D-Calif.), along with Representative Ayanna Pressley, Assistant Democratic Leader Jim Clyburn (D-S.C.), Representative Frederica Wilson (D-Fla.), and Representative Ilhan Omar (D-Minn.), led their colleagues in calling on the Secretary of Education Miguel Cardona to host a fourth session of the student debt negotiated rulemaking to consider relief for borrowers experiencing financial hardship.
    • In December 2023, U.S. Senators Warren, Richard Blumenthal, Ed Markey,, and Chris Van Hollen (D-Md.) sent follow-up letters to student loan servicers – MOHELA, EdFinancial, Nelnet, and Maximus – raising concerns about borrowers’ problems with return to repayment, requesting information about the borrower experience, and pushing back on the servicers’ claim that budget shortfalls limit their ability provide quality customer service to millions of borrowers.
    • In December 2023, Senators Warren, Schumer, Sanders, Alex Padilla (D-CA), and Representatives Ayanna Pressley (D-Mass.), Ilhan Omar (D-Minn.), and Frederica Wilson (D-Fla.) sent a letter to the U.S. Secretary of Education Miguel Cardona, urging him to leverage his existing and full authority under the Higher Education Act to provide expanded student debt relief to working and middle-class borrowers.
    • In August 2023, Senator Warren, Congresswoman Ayanna Pressley, Senate Majority Leader Chuck Schumer (D-N.Y.), Senators Alex Padilla and Raphael Warnock (D-Ga.) and U.S. Representatives Ilhan Omar, Jim Clyburn, and Frederica Wilson led 79 other lawmakers in a letter to President Joe Biden, urging him to swiftly deliver on his promise to deliver student debt cancellation to working and middle class families by early 2024.
    • In October 2022, Senator Warren and Representative Ayanna Pressley (D-Mass.) visited communities across Massachusetts to celebrate the Biden administration’s student debt cancellation plan and help residents sign up for student loan relief. 
    • In March 2022, Senator Warren, along with Senate Democratic Whip Dick Durbin (D-Ill.), Senator Brown and Representatives Pramila Jayapal (D-Wash.) and Mark Takano (D-Calif.), urged Secretary of Education Miguel Cardona to swiftly discharge the loans of borrowers defrauded by predatory for-profit colleges and universities, including those operated by Corinthian College. 
    • In January 2022, Senator Warren, along with Senate Majority Leader Charles E. Schumer (D-N.Y.) and Representatives Jayapal, Pressley, Ilhan Omar (D-Minn.), and Katie Porter (D-Calif.) led more than 80 colleagues in a bicameral letter to the Department of Education calling for it to release the memo outlining the Biden administration’s legal authority to cancel federal student loan debt and immediately cancel up to $50,000 of debt for Federal student loan borrowers.
    • In April 2021, Senators Warren and Raphael Warnock (D-Ga.) led a group of colleagues in a letter to Education Secretary Miguel Cardona urging the Department of Education to take swift action to automatically remove all federally-held student loan borrowers from default.

    MIL OSI USA News

  • MIL-OSI USA: Shaheen Raises Concerns Over Trump Administration Energy Policies That Will Raise Prices, Threaten Jobs and Reduce Competitiveness

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) delivered remarks on the Senate floor to raise her concerns about President Trump’s harmful actions that will raise energy prices, threaten jobs and hurt our global economic competitiveness. The remarks came during consideration of a resolution Shaheen has cosponsored to terminate President Trump’s misguided national energy emergency, which has been used to bypass Congress to advance policies that benefit Big Oil at the expense of Granite Staters and working Americans. In her remarks, Shaheen shared the stories of Granite Staters and small businesses that will see their energy costs increase as a result of President Trump’s policies. You can view her remarks in full here.

    Key Quotes from Senator Shaheen:

    • “Lowering energy costs, creating good jobs, increasing America’s economic competitiveness in the world—those [should] be things that we can all agree on. But if we give up our leadership on clean energy now, the People’s Republic of China … is going to be more than happy to fill the void for its own economic advantage.”
    • “In the first 37 days, we’ve seen the Trump administration cut off funding for solar, wind and clean manufacturing projects that are cheaper and faster to build than fossil fuel infrastructure. We’ve seen him halt energy efficiency programs, and we know energy efficiency is the cheapest, fastest way to deal with our energy needs.”
    • “The tariffs that are set to go into effect … they could mean about $150 to $250 more for the average family in New Hampshire who are using heating oil just to keep warm through the winter.”
    • “President Trump’s efforts to cancel promised funding for electric charging infrastructure in New Hampshire harms our travel and tourism sector, particularly in northern New Hampshire, where ski areas and other outdoor recreation drives our local economies. A recent study found that the state risks losing an estimated 1.4 billion in overall economic impact.”

    Remarks as delivered can be found below:

    I come to the floor today in support of Senate Joint Resolution 10, which would terminate the misguided national energy emergency that President Trump signed on his first day in office.

    It has been 37 days since President Trump declared, for the first time in this nation’s history, a national energy emergency.

    This is an attempt to throw red meat to the base of the Republican party, and to seem like Donald Trump is the oil and gas president.

    But there’s no evidence to support that.

    In fact, the evidence we have points in exactly the opposite direction.

    This emergency was declared despite the fact that the United States is producing more oil than any other country ever in this nation’s history.

    And we’ve been doing that for the past seven years.

    The emergency was declared despite the fact that the United States is in the midst of a clean energy boom and a manufacturing renaissance.

    We generated 17% more electricity in 2023 than the high point of the first Trump Administration.

    Clean energy jobs are growing at twice the rate of the economy overall.

    And this emergency was declared despite the fact that as the Wall Street Journal headline noted after the election, quote, “Trump’s oil and gas donors don’t really want to drill, baby, drill,” End quote.

    They are very happy to lock in demand for the long term. But increase supply and potentially undercut profits? Not so much.

    So we find ourselves within an emergency declaration in search of an emergency.

    But it’s not without consequences.

    President Trump has assumed vast power for the executive branch through this emergency designation.

    He’s encouraging the use of eminent domain that could literally allow the government to take your land away.

    He’s waving away key protections for clean water.

    And he’s suggesting that a timeline of just seven days is sufficient for public commitment—for public comment, excuse me—on projects that could cause irreparable harm to historic and cultural resources.

    President Trump campaigned on, and I’m quoting here, “lowering the cost of everything,” and he promised “your energy bill within 12 months will be cut in half.”

    Now, voters responded to those promises, and Americans do want to see lower energy costs.

    I’m all for that.

    I focused as governor on how we can address the high energy prices in New Hampshire.

    We permitted two gas pipelines through the state, both gas coming from Canada, and we negotiated to deal with our largest utility company that lowered rates 16.5%.

    So I’m all for lowering energy costs.

    We absolutely should be talking about that.

    But let’s take a step back here and let’s talk about what President Trump’s energy policies actually are, and how they affect the American people.

    In the first 37 days, we’ve seen the Trump administration cut off funding for solar, wind and clean manufacturing projects that are cheaper and faster to build than fossil fuel infrastructure.

    We’ve seen him halt energy efficiency programs, and we know energy efficiency is the cheapest, fastest way to deal with our energy needs.

    He’s prepared a 10% energy tax in the form of tariffs on heating oil, propane, gasoline and other energy we import from Canada.

    And that hits New Hampshire really hard because of the energy sources we get from Canada—I talked about the two gas pipelines that come down from Canada, and because we have so many households that burn number two fuel oil to heat our homes and because it’s cold in New Hampshire at this time of year.

    So that hits us really hard.

    He’s fired more than a thousand workers at the Department of Energy, including those who are keeping state energy programs and weatherization up and running to respond to emergencies and to help folks like we have in New Hampshire stay warm this winter.

    And tomorrow, what we expect is that Senate Republicans will roll back a commonsense fee on venting or flaring of methane, rather than capturing it for productive use.

    And if that passes, and the president signs it, it will cost the taxpayers $2.3 billion over the next ten years, effectively lighting money on fire to save Big Oil a few bucks.

    Now in New Hampshire, as in other states, President Trump’s actions have sown chaos and uncertainty.

    They’re raising costs for families, for farmers, for small businesses, and for town budgets.

    For example, the tariffs that are set to go into effect, and I understand that the president has now decided he’s going to wait until April, but they could mean about $150 to $250 more for the average family in New Hampshire who are using heating oil just to keep warm through the winter.

    President Trump’s efforts to cancel promised funding for electric charging infrastructure in New Hampshire harms our travel and tourism sector, particularly in northern New Hampshire, where ski areas and other outdoor recreation drives our local economies.

    A recent study found that the state risks losing an estimated 1.4 billion in overall economic impact, if we don’t build up our charging infrastructure.

    One small business owner in Barrington in the seacoast of New Hampshire told me that he has nearly $3 million in projects.

    Those projects are on hold this year, including work with school districts, with the state and with other customers to staff install solar projects that provide long term taxpayer savings.

    And they’re on hold because of what President Trump has ordered.

    Farms and local shops across rural areas of New Hampshire are nervous about receiving promised reimbursements for energy saving work through the Rural Energy for America program, the REAP program.

    At least one business owner at Seacoast Power Equipment has been covering interest with the bank until his grant, which he has a signed commitment for, is actually paid out—And of course, this is affecting his bottom line.

    And then we have Super Secret Ice Cream in Bethlehem, New Hampshire, in the northern part of our state.

    This is an award-winning small business that provides the best ice cream you’ve ever eaten.

    They were gearing up to install solar panels using $15,000 in federal funds.

    Now that project is on hold.

    Many family-owned businesses, like Super Secret Ice Cream, have very tight margins, and this small investment of $15,000 would help Christina and Dan grow their business and lower the electric costs that they’re paying to store their ice cream.

    And then we have the town of Peterborough in the western part of New Hampshire.

    They plan to use funding from the bipartisan infrastructure law to enhance much needed workforce development, but of course, they’ve had to wait far too long for federal approvals.

    And in rural towns like Berlin, in the northern part of our state, residents eagerly signed up for federally funded projects that will insulate and add solar arrays to their manufactured homes.

    This is a real solution to their high utility bills, but these projects are now on hold because the contractors are uncertain that they’re going to be paid.

    Now, I could go on as I know my colleagues could, but since we have people waiting, I want to close with a point of agreement.

    In his executive order, President Trump stated, and I quote, “we need a reliable, diversified and affordable supply of energy to drive our nation’s manufacturing, transportation, agriculture and defense industries and to sustain the basics of modern life and military preparedness.”

    That makes sense to me.

    I agree with that.

    But unfortunately, that’s about the only thing he said related to energy in the past 37 days that does make sense.

    Lowering energy costs, creating good jobs, increasing America’s economic competitiveness in the world—those ought to be things that we can all agree on.

    But if we give up our leadership on clean energy now, the People’s Republic of China, who President Trump claims is our greatest competitor—and I agree with him on that—

    I just don’t understand how the Trump administration policies are allowing us to be competitive.

    But China is going to be more than happy to fill the void for its own economic advantage.

    I think we should also agree that Americans deserve clean air, clean water, and the chance to have a say in what happens in their communities.

    I want to work with my colleagues on both sides of the aisle on these goals, and that work starts by ending this disastrous, misguided emergency declaration and by stopping the chaos.

    So I hope my colleagues will join me in voting to restore Congress’s appropriate role in setting energy policies that benefit the American people by supporting this resolution.

    Thank you, Mr. President.

    I yield the floor.

    Shaheen has led efforts to oppose President Trump’s harmful and inflation-inducing tariff proposals. Last month, Shaheen led the New Hampshire Congressional Delegation in sending a letter to the White House urging him not to impose tariffs on Canada, Mexico and China which are expected to cost the average American $1,200 per year.

    Earlier this year, Shaheen introduced new legislation with U.S. Senators Ron Wyden (D-OR) and Tim Kaine (D-VA) to shield American businesses and consumers from rising prices imposed by tariffs on imported goods into the United States. The Senators’ legislation would keep costs down for imported goods, including energy, by limiting the authority of the International Emergency Economic Powers Act (IEEPA)—which allows a President to immediately place unlimited tariffs after declaring a national emergency—while preserving IEEPA’s use for sanctions and other tools.

    Shaheen has championed work to secure federal investments in clean energy and energy efficiency initiatives and to lower energy costs across New Hampshire. In the Fiscal Year 2024 government funding bills, Shaheen secured $366 million for weatherization efforts and $66 million for the State Energy Program, which work to bring down energy bills for families and communities. Shaheen was a key supporter of the Inflation Reduction Act and a lead negotiator of the Bipartisan Infrastructure Law, legislation that invest in energy efficiency, including funding for residential, municipal, industrial and federal entities to implement efficiency improvements and upgrades.

    MIL OSI USA News

  • MIL-OSI Security: Inland Empire Man Pleads Guilty to Possessing Trade Secrets Belonging to U.S. Employer to Build Business with China Company

    Source: Office of United States Attorneys

    LOS ANGELES – A San Bernardino County man pleaded guilty today to illegally possessing sensitive technologies that he downloaded from his Southern California-based employers and used them to market his own competing company to a China-based company.   

    Liming Li, 66, of Rancho Cucamonga, pleaded guilty to one count of possession of trade secrets.

    “Protecting U.S. companies’ sensitive intellectual property is critical to our country’s success in a global economy,” said Acting United States Attorney Joseph T. McNally. “The defendant here stole intellectual property in order to benefit companies in China. Stealing proprietary information undermines our economic security and the U.S. Attorney’s Office will aggressively prosecute individuals that engage in this conduct.” 

    “Mr. Li’s greed allowed him to be used by a Chinese company without regard for the negative implications to the economy or national security of the United States,” said Akil Davis, the Assistant Director in Charge of the FBI’s Los Angeles Field Office. “The FBI is well-aware that China is actively seeking and stealing American intellectual property at a rapid pace and those who willingly hand it over, as Mr. Li has done and now acknowledged, will face serious consequences.”

    According to his plea agreement, from 1996 to 2013, Li worked for a Southern California-based business identified in court documents as “U.S. Company #1,” which specialized in precision measuring instruments and metrological technology and equipment. The company designed and sold a range of products such as micrometers, calipers, coordinate measuring machines (CMMs), and optical measurement systems.

    Li worked at U.S. Company #1 as a senior software engineer, then as a program manager. From 2013 to 2018, Li worked as chief technologist at a wholly-owned subsidiary of U.S. Company #1. During his employment at U.S. Company #1 and its subsidiary, Li worked on the development of the source code for one of the company’s software programs, which was considered its proprietary information.

    In July 2013, Li signed an employee handbook and confidentiality agreement with U.S. Company #1 that required him to turn over all writings, records, files, technology, trade secrets or data containing any proprietary information belonging to the company. The agreement also prohibited Li from copying the company’s proprietary information without written permission.

    Li admitted in his plea agreement that he occasionally downloaded the company’s proprietary information onto his personal devices without permission. Li failed to return all the proprietary information belonging to U.S. Company #1 after its subsidiary terminated him in January 2018. 

    In February 2018, Li operated a consulting company named JSL Innovations Inc. and in March 2020, he signed an employment agreement with Suzhou Universal Group Technology Co. Ltd., a China-based chain-and-bearing manufacturer. Li continued to work for Suzhou Universal until his arrest in May 2023. During this period, Li continued to knowingly possess U.S. Company #1’s proprietary information and – more than once – accessed this information without that company’s authorization. 

    Li admitted that he used the proprietary information for his own economic benefit and that it would injure U.S. Company #1’s interests.

    United States District Judge John A. Kronstadt scheduled a May 8 sentencing hearing, at which time Li will face a statutory maximum sentence of 10 years in federal prison. 

    The FBI investigated this matter with substantial assistance from the Department of Commerce, Office of Export Enforcement, Bureau of Industry and Security.

    The case against Li was brought under the auspices of the Disruptive Technology Strike Force, which is co-led by the Departments of Justice and Commerce. The Strike Force seeks to counter efforts by hostile nation-states to illicitly acquire sensitive U.S. technology to advance their authoritarian regimes and facilitate human rights abuses. 

    Assistant United States Attorney Aaron B. Frumkin of the Cyber and Intellectual Property Crimes Section, Solomon D. Kim of the Major Frauds Section, and David T. Ryan of the National Security Division are prosecuting this case.

    MIL Security OSI

  • MIL-OSI Global: Workplace aggression causes real harm — leaders must take action against it

    Source: The Conversation – Canada – By Zhanna Lyubykh, Assistant Professor, Beedie School of Business, Simon Fraser University

    When leaders ignore workplace aggression, employees can experience post-traumatic stress disorder, anxiety disorder and depression. (Shutterstock)

    Workplace aggression is a pervasive and highly damaging issue that costs organizations billions of dollars annually in lost productivity. Beyond financial losses, it fosters toxic workplace cultures, exposes companies to legal and reputational risks, and causes substantial distress for those who experience or witness it.

    For years, scholars and practitioners have sought ways to prevent workplace aggression and mitigate its negative consequences. One proposed solution is bystander intervention, where employees who witness or hear about aggression step in to stop or address it.

    However, results from our recent meta-analysis cast doubt on the effectiveness of bystander intervention as a reliable solution. We integrated research findings from 149 articles, which included data from 111,466 participants. Alarmingly, we found that bystanders intervened only in the artificial safety of experiments, but not in real work settings.

    Not all employees feel equipped to address workplace aggression, and organizations should not over-rely on employees to take action. Instead, we highlighted the crucial role leaders can play. Leaders can effectively interrupt incidents of workplace aggression, act as influential role models for others and ultimately foster inclusive climates.

    Leaders must step up

    Leaders can become aware of workplace aggression in various ways, including overhearing rude comments in a meeting, receiving written complaints or being approached for advice on handling inappropriate jokes. When this happens, leaders must decide whether to act and how.

    Several barriers may prevent leaders from responding constructively. Like anyone else, leaders are prone to cognitive distortions. They may downplay an incident as a joke, hesitate to confront a high-performing employee who is the instigator, or even blame the target for provoking the behaviour.

    Some leaders may also feel it’s not their responsibility to intervene. If they have demanding jobs, they might not have time or energy to get involved in interpersonal issues that are not central to their jobs.

    Too often, employees remain silent when it comes to dealing with aggressive behaviours due to their perceived lack of power or ability to make a difference.
    (Shutterstock)

    However, the cost of leader inaction is high. In 2022, Nike faced a harassment and discrimination lawsuit with female employees raising concerns that “Nike’s management were unlikely to address their concerns” about unwanted sexual advances, sexist attitudes, and discrimination.

    In another case, the Royal Canadian Mounted Police faced a $1.1 billion lawsuit alleging systematic negligence and failure of “the chain of command” to address workplace aggression.

    When leaders ignore workplace aggression, organizations can suffer reputational and financial damage. But most importantly, employees can experience serious distress, including post-traumatic stress disorder, anxiety disorder, and depression.

    Responding to aggressive incidents

    One survey found that only 44 per cent of employees at U.S. companies strongly agree that their companies have a culture where employees are encouraged to speak up. Too often, employees remain silent when it comes to dealing with aggressive behaviours due to their perceived lack of power or ability to make a difference.

    Leaders, however, have the power to resist pushback, hold instigators accountable and create a supportive workplace environment. Leaders must take an active role in both preventing and responding to aggressive workplace incidents.

    First, leaders should acknowledge that addressing aggression is a part of their job. Aside from legal obligations to address aggression, leaders’ actions set the tone for what is considered acceptable. Demonstrating a commitment to civility can signal their ethical leadership, a highly valued leadership style.




    Read more:
    Workplace tensions: How and when bystanders can make a difference


    Second, leaders need to also address what might seem like minor incidents. A common misconception among bystanders is that minor incidents of aggression aren’t serious or harmful enough to act on.

    Minor incidents of aggression include low-intensity behaviors, such as sarcastic remarks, offensive jokes, eye-rolling, or dismissive gestures. More severe aggression includes such behaviors as yelling, intimidation, throwing objects in anger, or even inflicting physical harm.

    Aggression often starts with relatively minor acts that may escalate to more severe ones when left unchecked, so these smaller acts need to be addressed. Once aggression escalates in intensity or frequency, it becomes part of the organizational culture, making it much harder to change.

    It might seem surprising, but minor and severe aggression can be equally harmful to victims. Minor incidents are often subtle, which can lead to excessive rumination (e.g., was it intentional?), self-doubt (e.g., am I misinterpreting it?) and lowered self-esteem. This is particularly problematic because minor incidents are significantly more prevalent at work.

    How leaders can intervene effectively

    Leaders also need to learn how to appropriately intervene in incidents of aggression. For minor incidents, leaders can take immediate actions by redirecting attention from the target and stopping the incident by shifting the conversation or suggesting a quick break.

    Leaders should also privately address the aggressive behaviour with the instigator. Aggressive behaviours, especially in minor forms, are sometimes unintentional, so it’s best to approach the conversation in a non-confrontational manner that prompts the instigator to reflect on their behaviour and recognize the harmful nature of their actions.

    Leaders should privately address any aggressive behaviour with instigators.
    (Shutterstock)

    Since employees commonly become defensive or deny wrongdoing during such conversations, leaders should focus on discussing behaviours rather than personality, and provide actionable suggestions for positive behavioural change.

    It is also important to provide support to the target. Sometimes, employees react negatively toward victims of workplace aggression, such as blaming them for provoking the aggression rather than supporting them, which can damage their social standing within the team. When leaders support victims, it signals to others how they should respond, which can help victims retain their social status.

    Leaders can also create opportunities for the target to showcase their skills, reaffirming the importance of their role within the team and the organization, or engaging in acts of leader allyship toward victims.

    Innovating bystander training

    While our findings cast doubt on the effectiveness of bystander intervention among regular employees, they underscore the critical role of those in positions of authority and power to take action to address workplace aggression.

    Leaders should adopt innovative training programs, including bystander intervention training. While many organizations already provide such training, it often only involves educational videos or lectures. Research shows the best way to learn is by practicing, not passively listening. Training should take this into account.

    But how can employees practice interventions in a safe environment? One way organizations can do this is by taking advantage of recent technological developments, such as generative artificial intelligence, to create realistic training simulations.

    Trainees can engage in simulated conversations with a virtual instigator or victim and practice their intervention skills. Such conversations can be done in real-time with an avatar through video or voice, allowing employees build confidence and refine their approach in a controlled setting.

    Leaders have both the power and responsibility to create safer workplaces. By taking action to interrupt aggression and support victims, leaders can be role models for employees and ultimately foster a more productive work environment. Needless to say, leaders should address the problem, not contribute to it.

    Zhanna Lyubykh receives funding from the Social Sciences and Humanities Research Council of Canada.

    Sandra L. Robinson receives funding from the Social Sciences and Humanities Research Council of Canada.

    Sandy Hershcovis receives funding from the Social Sciences and Humanities Research Council of Canada.

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

    ref. Workplace aggression causes real harm — leaders must take action against it – https://theconversation.com/workplace-aggression-causes-real-harm-leaders-must-take-action-against-it-249938

    MIL OSI – Global Reports

  • MIL-OSI Global: Inuit children in Nunavut face a preventable food security crisis

    Source: The Conversation – Canada – By Vandna Sinha, Adjunct Professor of Social Work, McGIll University & Associate Research Professor of Education, University of Colorado, Boulder, McGill University

    Nunavut has the highest rate of child poverty and the highest rate of food insecurity of any Canadian province or territory. In 2022, around 80 per cent of Indigenous children aged between one and 14 in Nunavut lived in households experiencing food insecurity. In 2018, the rate of childhood food insecurity in Nunavut was almost six times higher than in Canada as a whole.

    The Hamlet Food Voucher Program, funded through the Inuit Child First Initiative (ICFI), has recently offered some relief. This program gives families funds for groceries to meet the nutritional needs of Inuit children.

    However, ICFI funding only runs until March 31, 2025. With Parliament prorogued, plans for further funding remain uncertain. That means starting April 1, many Inuit children in Nunavut may again go hungry. The Canadian government can make sure that does not happen by extending funding for ICFI and the food voucher program.

    Long-term effects of food insecurity

    Food insecurity can have harmful, and sometimes lasting, impacts on a young person’s physical health, mental health, academic performance and cognitive development. Infants and toddlers are particularly vulnerable because they are completely dependent on adult caregivers whose physical and mental health can also be impacted by food insecurity.

    Recently, food security initiatives in Nunavut have been funded through the ICFI, which was launched in 2018. ICFI was meant to be a temporary measure to help families access essential services while an Inuit-specific framework is being developed.

    Nutrition support for children has been one of the most requested services under ICFI. Initially, each family had to submit extensive documentation, and often faced months-long delays before receiving services and supports.

    In 2023, municipal governments in Nunavut began to request, and receive, ICFI funding for nutrition supports for all Inuit children in their community. By December 2024, all but one community received funding for Hamlet Food Voucher Programs. These programs provide $500 per child for groceries and an additional $250 for children under four.

    High grocery costs

    The support provided through the Hamlet Food Voucher Program is significant, but $500 covers far less in Nunavut than in southern Canada. Groceries must be brought to Nunavut by plane or ship, and most communities have only one or two grocery stores. Accordingly, despite efforts to reduce prices through programs like Nutrition North Canada (NNC), the cost of groceries in Nunavut is much higher than in the rest of Canada.

    Grocery prices in Nunavut are also rising much faster than in the rest of Canada. Our research shows that, between 2022 and 2024, the cost of a basket of goods in Qikiqtaaluk, Nunavut’s largest region, rose by 26 per cent (compared to 13 per cent across Canada) and is now more than double the average cost in Canada.

    Even food subsidized through NNC is far more expensive: four litres of milk cost $9.95 in Qikiqtaaluk compared to a Canada average of $5.10. Prices for other items can be even higher: a February 2025 video from the hamlet of Grise Fiord shows a jar of jam selling for $35, pickles for $66 and a six-pack of apple sauce for $58.

    The high rate of food insecurity in Nunavut reflects a vast gap between household incomes and the money required to support a basic standard of living. Nunavut saw sustained income growth between 2005 and 2019, and a declining percentage of people receiving social assistance. Still, employment rates remain lower than in other territories.

    In 2023, the median income for households with two adults and two children was just under $36,000.

    This was around 40 per cent of the $89,420 needed for a two-adult, three-child family living in social housing in Iqaluit to afford the “modest, basic standard of living” represented by the official poverty threshold.

    The social assistance available to low-income Nunavut families is comparable to that in provinces with a lower cost of living. Even with $1,000 a month in food vouchers, a family of four making the median income remains far below the “deep poverty” threshold of 75 per cent of the official poverty line.

    An Inuit-led solution

    We have been interviewing service providers, grocery store employees and people co-ordinating Hamlet Food Voucher Programs. The interviews are part of an ongoing research project we are working on in collaboration with Sindu Govindapillai and Dheeksha Reddy from Qupanuaq, a service co-ordination program operated by the Arctic Children and Youth Foundation, and research team members Kelly Mitchell, Mohammad N. Khan, Josee G. Lavoie and Tracey Galloway.

    Interviewees tell us that, because of the program, fewer people go without food and more families can cover rent, utilities and other necessities. People also told us that families are eating healthier, children are going to school more often and are more engaged when there, and families are less stressed. Other programs and services that were previously busy addressing food-related crises can now focus on providing medical care, fostering learning and keeping children safe.

    The people we interviewed also make it clear the Hamlet Food Voucher Program is not enough to solve the problem of food insecurity in Nunavut. They stressed that food security initiatives must be paired with supports for healing, well-being and life-long learning.

    Inuit plans for addressing poverty include such supports. They also include measures to increase community decision-making, reform income assistance, increase access to housing and strengthen local economies.

    Until such a framework is fully implemented, the Hamlet Food Voucher Program must remain in place. Nunavut families currently face record levels of child poverty, rising food prices and a potential North American trade war that would further drive-up costs.

    Losing food voucher support would be catastrophic for many households, particularly those with young children. The Canadian government must support Inuit leaders working toward a long-term solution to food insecurity in Nunavut. By funding the Hamlet Food Voucher program in the interim, it can help ensure that the children of Nunavut do not go hungry.

    The ongoing research described in this article is funded by the Arctic Children and Youth Foundation and Nunavut Tunngavik Incorporated.

    Financial support for this research was provided by CN and Mr. Dan Einwechter through the Einwechter Centre for Supply Chain
    Management, Wilfrid Laurier University

    Nicholas Li receives funding from a Social Sciences and Humanities Research Council of Canada Insight Development Grant that helped support this research.

    Jessica Penney 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. Inuit children in Nunavut face a preventable food security crisis – https://theconversation.com/inuit-children-in-nunavut-face-a-preventable-food-security-crisis-250004

    MIL OSI – Global Reports

  • MIL-OSI Canada: Recruiting Starts for Province’s First Internal Travel Nurse Program

    Source: Government of Canada regional news

    Registered nurses can now apply to participate in the province’s first internal travel nurse program.

    The pilot program will create a Nova Scotia Health travel nurse team to be deployed to emergency departments.

    “We committed to establishing an internal travel nurse team so we can limit the hiring of nurses from external companies,” said Premier Tim Houston. “This program is the first of its kind in the Maritimes and is intended to help retain and provide a different opportunity to those already working in our system and bring those currently working for external travel nurse agencies into our public healthcare system.”

    The new program will hire 20 to 30 full-time registered nurses and offer internal and external candidates an opportunity to grow their skills and experience, travel and work in different areas.

    Expected to launch by the end of March, it is a joint effort of the Province, Nova Scotia Health and the Nova Scotia Council of Nursing Unions.


    Quotes:

    “We’re very excited to be accepting applications for this pilot program. This is the result of a tremendous amount of work in close partnership with the council of unions, which will ultimately provide safer, more timely access to care for Nova Scotians and help Nova Scotia Health continue to attract and keep registered nurses.”
    Annette Elliott Rose, Chief Nurse Executive and Vice-President, Clinical Performance and Professional Practice, Nova Scotia Health

    “Since before the pandemic, nurses’ unions have been calling on the Province to reduce its reliance on agency nurses. This announcement is a step in the right direction, one that provides structure, support and stability for those interested in working in this area of nursing and for Nova Scotians who require care.”
    Janet Hazelton, Chair, Nova Scotia Council of Nursing Unions, and President, Nova Scotia Nurses’ Union


    Quick Facts:

    • Nova Scotia Health and the council of nursing unions will share details soon about information sessions for interested candidates
    • nurses on the team will have $6 per hour, or 15 per cent – whichever amount is higher – added to their registered nurse base hourly rate for all shifts worked as a travel nurse
    • internal candidates will continue to accrue pension and seniority and maintain their benefits with Nova Scotia Health
    • the Province announced changes to limit hiring of external travel nurses in December 2023

    Additional Resources:

    Provincial internal travel nurse program job posting: https://jobs.nshealth.ca/nsha/job/All-Locations-Internal-Travel-Nurse-Emergency-Department-NS/589878117/

    News release – New Approach to Hiring Travel Nurses: https://news.novascotia.ca/en/2023/12/04/new-approach-hiring-travel-nurses

    Action for Health, the Province’s strategic plan to improve healthcare: https://actionforhealth.novascotia.ca/


    Other than cropping, Province of Nova Scotia photos are not to be altered in any way.

    MIL OSI Canada News

  • MIL-OSI Canada: Investing in the Inuit economy and protecting Canada’s Northern ecosystems

    Source: Government of Canada – Prime Minister

    There is no relationship more important to Canada than the one it has with Indigenous Peoples, the original inhabitants and stewards of lands and waters in Canada since time immemorial. We remain committed to working with Indigenous partners to advance reconciliation, recognizing the role of Indigenous leadership in environmental stewardship, and helping ensure the world we leave to future generations is safe and healthy.

    Today, the Prime Minister, Justin Trudeau, was joined by the President of the Qikiqtani Inuit Association (QIA), Olayuk Akesuk, to announce the signing of the SINAA Project Finance for Permanence Agreement between the Government of Canada, the QIA, The Pew Charitable Trusts, and the Aajuraq Conservation Fund Society.

    Contributions to the SINAA Agreement include a planned $200 million from the Government of Canada, along with $70 million pledged from philanthropic donors in Canada and around the world. Over the next 15 years, these investments are projected to attract $318 million to the Qikiqtani region, with more jobs, opportunities, and Inuit-led stewardship of lands and waters. The agreement will also make meaningful progress in advancing the goal to conserve 30 per cent of oceans in Canada by 2030, adding an additional 3.68 per cent contribution to Canada’s water-based ecosystems.

    This milestone agreement in advancing Inuit-led conservation and reconciliation includes a new conservation plan to establish a robust and lasting network of proposed Inuit-led and protected water and land conservation areas in Canada’s Arctic. Protecting these areas will ensure the long-term health and sustainability of ecosystems, while safeguarding the well-being and ways of life of Inuit communities in the region. In Inuktitut, SINAA means “the floe edge”, where the open sea meets the frozen sea, becoming a vibrant ecosystem of marine life. With the SINAA Agreement, we will strengthen existing protected and conserved ecosystems through enhanced partnership with Inuit governance.

    To further support economic opportunities for the Qikiqtani Inuit, Fisheries and Oceans Canada and the QIA have signed the Qikiqtani Fisheries Agreement. The agreement provides funding over the next 10 years to support both acquiring access to offshore commercial fisheries, vessels and gear, and training to participate in offshore commercial fishing in adjacent waters.

    With these investments, we are building an economy based on conservation, investing in community infrastructure like the Arctic Bay Small Craft Harbour, and creating jobs where Inuit knowledge will be leveraged and valorized to protect Northern ecosystems.

    As one of the most biodiverse areas of the Arctic, the Qikiqtani region is home to some of the world’s most iconic species, including narwhals, whales, and polar bears. With today’s landmark agreement, we reaffirm our commitment to working alongside Inuit and Northern partners to protect these precious ecosystems that are so deeply intertwined with Inuit culture, economy, and well-being. Together, we are ensuring biodiversity and livelihoods are sustained for generations to come.

    Quotes

    “The Canadian Arctic has been home to vibrant ecosystems and Indigenous communities for generations. With today’s announcement, we are strengthening our commitment to protecting lands, waters, and wildlife, honouring Inuit-led conservation efforts, and walking forward on the shared path of reconciliation. Working together with provinces, territories, Inuit communities, and other partners, we can build a future where traditions, stories, and ways of life are preserved and celebrated.”

    “Today, we are reaching a historic milestone in Canadian history. The agreement signed today sets the foundations for Inuit-led and governed conservation efforts to protect our culture, lands, waters, and wildlife. Today is a proud day, and I thank the Government of Canada, donors, and the philanthropic community for seeing our vision and working with us to make it a reality.”

    “Canada is proud to be part of the SINAA Agreement advancing Inuit-led conservation in the Arctic. This agreement marks an important milestone in partnership and honours the vital role of Inuit stewardship in safeguarding the environment. Through this important partnership, we are supporting the well-being of Inuit in the Qikiqtani region today, while conserving ecosystems for our children and grandchildren.”

    “Nature and oceans are defining elements of Canada’s identity. Protecting them is crucial not only in the fight against biodiversity loss and climate change, but also in preserving our deep connection to nature and building a sustainable future – one where Indigenous traditions and knowledge are at the heart of our conservation efforts. We are proud to work with Inuit partners and territorial governments through the SINAA Agreement to advance new and enhanced Inuit-led marine conservation areas in the Arctic, ensuring that the region’s diverse and unique marine ecosystems can thrive.”

    Quick Facts

    • The Project Finance for Permanence (PFP) model provides for multi-partner investments and sustainable financing for large-scale conservation and sustainable development projects. These initiatives bring together Indigenous organizations, governments, and the philanthropic community to identify shared goals for protecting nature and ultimately halting biodiversity loss while advancing community well-being and reconciliation with Indigenous Peoples.
    • In recent years, the Government of Canada has made historic investments in Indigenous-led conservation projects, including through initiatives like the Indigenous Guardians program.
    • In December 2022, during the 15th Conference of the Parties (COP15) to the Convention on Biological Diversity in Montréal, Quebec, the federal government pledged to deliver up to $800 million in support of up to four Indigenous-led PFP initiatives. Today’s SINAA announcement is the third of these initiatives, following the launch of the Great Bear Sea PFP and the NWT Our Land for the Future PFP initiatives last year.
    • The SINAA Agreement (formerly the Qikiqtani PFP) is led by the Qikiqtani Inuit Association (QIA) and aims to conserve up to 3.68 per cent of the marine environment in Canada in addition to strengthening long-term existing protected areas that already contribute 8.60 per cent toward marine conservation targets.
    • Fisheries and Oceans Canada has collaborated with Parks Canada and Environment and Climate Change Canada to advance this innovative funding model where a minimum of one dollar will be contributed by philanthropic organizations for every four dollars contributed by the federal government. This includes a planned $200 million of federal funds plus $70 million pledged from philanthropic organizations to support Inuit-led conservation in Nunavut.
      • Together, these contributions will be managed and invested by the Aajuraq Conservation Fund Society, a Canadian-led society governed by members appointed by QIA and The Pew Charitable Trusts to generate durable, long-term financing for ongoing conservation and stewardship activities led by QIA.
    • The SINAA Agreement represents an important step in Inuit-led conservation in the Qikiqtani region. Key components of the SINAA Agreement include: 
      • A conservation plan that proposes several new protected and conserved areas and enhanced protections for existing areas.
      • Support for the Inuit stewardship (Nauttiqsuqtiit) program enabling Inuit partners to have eyes and ears on the water, land, and ice.
      • Support for Nauttiqsuqtiit Conservation Centres so that Inuit stewards have the proper equipment and work spaces to be stewards of the water, land, and ice.
      • Support for Inuit-led regional governance so that Inuit partners can implement an integrated and regional vision for conservation that takes into consideration local and regional perspectives along with Inuit knowledge.
    • The Government of Canada, QIA, and The Pew Charitable Trusts have engaged with the Government of Nunavut throughout the planning of the initiative and will continue to engage through the implementation, specifically through advancing the conservation plan.
    • Grounded in science, Indigenous knowledge, and local perspectives, Canada is committed to working with partners across the country to conserve 30 per cent of lands and waters by 2030.

    Related Product

    Associated Links

    MIL OSI Canada News

  • MIL-OSI Video: How to Lower the Temperature in the Middle East | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    The ongoing war in Gaza, a delicate ceasefire in Lebanon, a political changeover in Syria and heightened tensions in the Red Sea and Horn of Africa threaten to spill over into a wider regional conflict in the Middle East. At the same time, the region finds itself caught in the middle of a geoeconomic competition between superpowers.

    What does the path to peace, security and cooperation look like in the Middle East?

    This session was developed in collaboration with CNN International.

    Speakers: Varsen Aghabekian, Asaad Hasan AlShaibani, Rebecca Anderson, Fuad Hussein, Ayman Al Safadi, Jean-Noël Barrot

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=2oktfbfSfcc

    MIL OSI Video

  • MIL-OSI Africa: CARICOM Development Fund and Afreximbank Sign Grant Agreement to Establish Green, Resilience and Sustainability Facility

    Source: Africa Press Organisation – English (2) – Report:

    BRIDGETOWN, Barbados, February 27, 2025/APO Group/ —

    The CARICOM Development Fund (CDF) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) have signed a €708,000 Grant Agreement to support the development of a Green, Resilience, and Sustainability Facility (GRSF). The agreement was formalized during the plenary session of the 48th Regular Meeting of the Conference of Heads of Government of CARICOM, recently held at the Wyndham Grand Barbados Sam Lord’s Castle.

    The GRSF’s commitment to providing blended financing, concessional financing, and other commercial funding options directly supports CARICOM’s development by enhancing regional resilience, sustainability, and economic adaptability. By offering flexible financial solutions, the fund empowers CARICOM member states to invest in critical infrastructure, climate adaptation projects, and sustainable development initiatives. This strategic approach aligns with CARICOM’s vision for a more resilient and self-sufficient region, ensuring long-term growth while mitigating environmental and economic vulnerabilities.

    Mr. Rodinald Soomer, CEO at the CARICOM Development Fund emphasized the importance of the partnership in advancing the Caribbean’s sustainability agenda. “This grant from Afreximbank will enable the CDF to strengthen its support for CARICOM Member States as they navigate the pressing environmental and economic challenges of our time. The Green, Resilience, and Sustainability Facility is a critical step towards ensuring long-term resilience and economic sustainability.”

    On his part, Prof Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, remarked that: “GRSF will provide a means of catalyzing and mobilizing investments to support Caribbean countries that are facing economic and fiscal challenges arising from the impact of frequent and intense adverse weather phenomena associated with climate change. It will also act as a mechanism to finance climate-related loss and damage and build resilience that will mitigate impacts and empower Caribbean Community member states to withstand these challenges, working towards closing the regions US$20 billion resilience financing shortfall.”

    Afreximbank and the CDF solidified their strategic partnership in August 2023 through a Memorandum of Understanding and the CDF’s acquisition of shares in the multilateral development Bank, demonstrating a mutual commitment to future collaboration.

    The grant agreement was signed at the 48th Regular Meeting of the Conference of Heads of Government of CARICOM which brought together regional leaders to discuss pressing issues, including economic recovery, climate action, and sustainable development. The signing of the Grant Agreement marks a significant milestone in strengthening regional and international cooperation for sustainable growth.

    The CDF recognizes that as the region’s development challenges become more complex, many can best be solved through market-based solutions. CDF’s Financial Innovation team is working to expand collaboration with various sectors and establish pioneering approaches that catalyze investments within disadvantaged countries, regions, sectors, and communities.  

    Increasingly, investors and businesses are looking at emerging markets for new opportunities. However, investing in these markets is complex, and the CDF has an important role to play in mobilising investment into high-impact areas.  Encouraging these investments requires new forms of collaboration. The CDF has engaged with several partners to collaborate in delivering its mandate since inception. Most recently, it also partnered with the USAID in the delivery of the Caribbean Community Resilience Fund (CCRF), a blended finance fund aimed at mobilizing capital from commercial, development finance institutions, and impact investors towards climate resilience and economic sustainability in the Caribbean region.

    MIL OSI Africa

  • MIL-OSI: Cario introduces blockchain-based vehicle titling to modernize ownership and reduce costs

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 27, 2025 (GLOBE NEWSWIRE) — Cario, a blockchain-powered vehicle titling platform, is leading the charge to modernize the outdated, paper-based system that governs car ownership in the United States. With the country’s newfound focus on government efficiency, a rare opportunity has emerged to transition vehicle titles into a secure, digital format. If this moment is not seized, self-sovereign ownership of vehicles could be replaced by centralized government databases, limiting individual control and future industry innovation.

    Vehicle titles remain one of the last major assets still reliant on paper, creating inefficiencies that affect consumers, dealerships, lenders, and the entire automotive industry. The current system is plagued by delays, red tape, and high operational costs, preventing dealers from legally selling vehicles until physical titles arrive by mail. Consumers, meanwhile, spend hours navigating DMV bureaucracy, while state governments face ongoing expenses tied to outdated technology.

    Blockchain as the future of vehicle titling

    Blockchain technology offers a secure and transparent alternative, creating a tamper-resistant record shared among all stakeholders, including dealerships, insurers, lienholders, and DMVs. This approach enables near-instant verification and transfers while preserving the individual’s ownership rights. Unlike centralized databases, blockchain-based titles ensure that vehicle ownership remains in the hands of individuals rather than government-controlled registries and paves the way for a programmable asset future.

    A cost-free solution for state governments

    The American Association of Motor Vehicle Administrators (AAMVA) has made slow progress toward e-titling, but existing solutions remain centralized and costly for states. Cario’s model, by contrast, is free for state governments. The cost burden shifts to dealers and lenders, who benefit from faster, more efficient title processing. This eliminates the need for expensive government contracts and taxpayer-funded technology overhauls. It also fundamentally aligns the incentives of government services with end-users, a key shift from how these services are designed today.

    A critical window for action

    With the launch of the Department of Government Efficiency (DOGE), the U.S. government is finally taking a deep look at reforming public services, making this a pivotal moment to advocate for blockchain-based titling. If blockchain solutions are not implemented, states may adopt centralized digital titles, which could limit individual access and control and hamstring future RWA innovation for decades. Cario urges consumers and industry stakeholders to take action before legacy systems cement a future of restricted ownership.

    How to get involved

    • Digitize your title: Vehicle owners can convert their titles into blockchain-based assets through Cario at no cost.
    • Spread the word: Follow us on X and sound off publicly – and to your friends and family who aren’t terminally online – about the importance of self-sovereign ownership for one of life’s most important assets.
    • Demand better: Join our campaign to let your state’s DMV and congressional representatives know that a blockchain solution for digital titling exists—and it’s cheaper, more transparent, and more efficient. Joining the campaign is quick and easy, just sign up with an email, enter in your address, and we’ll look up your representatives and craft an email for you to send (same way StandwithCrypto works).

    A new era for vehicle ownership

    Blockchain-based vehicle titling has the potential to save millions of dollars, streamline operations across the automotive industry, reduce bureaucratic inefficiencies, and protect individual ownership rights. As government agencies explore modernization efforts, stakeholders must ensure that the future of vehicle ownership remains open, secure, and decentralized.

    To learn more or to digitize your vehicle title, visit Cario’s website.

    About Cario

    Cario is a venture-backed technology company dedicated to modernizing vehicle titling through blockchain solutions. The company has completed two rounds of funding and is actively seeking strategic partners passionate about decentralization and digital ownership.

    Media contact
    Nathan Hecht
    nhecht@cario.com

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/812d3268-a037-49cf-b240-c23e2a4cd6af

    The MIL Network

  • MIL-OSI Video: Inflation: Past, Present and Future | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Inflation has rocked post-pandemic economies throughout the world, resulting in central banks raising interest rates to levels rarely seen in decades.

    In a geoeconomic environment characterized by isolationism, conflict and fragmentation, is it time to rethink approaches to inflation, drawing from the past, to better protect economies of the future?

    Speakers: Mehreen Khan, Rania Al-Mashat, Martin Wolf, Julio Velarde, Martin Schlegel

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=feWqOdnVN38

    MIL OSI Video

  • MIL-OSI USA: Fischer Questions Witness on Anti-Drug Trafficking Efforts

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer
    Yesterday, U.S. Senator Deb Fischer (R-Neb.), a member of the Senate Commerce Committee, questioned Director of the National High Intensity Drug Trafficking Area (HIDTA) program Shannon Kelly on the program to locate and intercept illegal drugs within the United States. She highlighted HIDTA’s successes in Nebraska, especially for the Panhandle’s Western Nebraska Intelligence and Narcotics Group (WING) Task Force.  
    During the hearing, Senator Fischer asked Ms. Kelly what future challenges she anticipates in achieving the program’s goals. She also asked about the benefits of a government-wide shared map to identify the reach of transnational drug trafficking organizations.
    Click the image above to watch a video of Senator Fischer’s questioning
    Click here to download audio
    Click here to download video
    Senator Fischer questions Shannon Kelly:
    Senator Fischer: Ms. Kelly, I think a key step in addressing the illicit drug threat is ensuring the existing programs within the government are working. As you know, the High Intensity Drug Trafficking Areas program, known as HIDTA, is a cornerstone of how we combat regional drug trafficking throughout the United States. And I have seen firsthand in my state of Nebraska, especially for law enforcement in rural areas with fewer local resources, how important this is. For example, HIDTA is the primary resource for the WING Task Force that covers 11 of our Panhandle counties. Through HIDTA, the task force has developed a uniquely cooperative investigative program, which is helping Western Nebraska law enforcement more actively manage narcotic and criminal investigations. In your view, how would you evaluate HIDTA’s effectiveness nationwide?
    Shannon Kelly: Thank you so much, Senator Fischer, for your support and for the question. Nationwide, we’re extremely proud of the work that HIDTA’s been doing. One of the things that we often tout is that for every dollar invested in the HIDTA program, the rate of return is $63, which is a pretty phenomenal testament to the success of the program overall. In 2023, HIDTA has collectively disrupted or dismantled more than 3,000 drug trafficking organizations or money laundering organizations, and collectively they seized more than 2,000 metric tons of drugs, which I think also completes the narrative here. Often when we’re talking about drug interdiction, we have a tendency to focus on the ports of entry and at the borders, which is critical to our overall success. But we often like to point to the work of the HIDTAs interdicting drugs within the interior of the United States. And I think the success rate there is phenomenal as well.Senator Fischer: What challenges do you see or that you possibly anticipate in the future in meeting your goals that you have out there?
    Shannon Kelly: Thank you, Senator, for asking that question. We do face a myriad of challenges. In some communities, the focus on drug trafficking is often subordinate to other threats, which is certainly a challenge in terms of making sure that there are state and local resources to put on HIDTA task forces. I would also say fatigue is a huge element for us, and I think it’s why the focus on border security and interdiction at the ports of entry and at the borders is key because I think we’re asking an awful lot of our state and local task force officers when they are being asked to interdict drugs that did evade the borders, and when they’re being asked to investigate the types of networks that are directly linked to cartels. That’s a huge challenge. It’s a training challenge, and it’s a resource challenge for all of our task forces. 
    Senator Fischer: You know, you brought up the border, and obviously the southern border is a major disruption zone. In years past, we’ve struggled with all the different agencies out there using different intel, using different maps, whether it’s DEA or FBI or CBP or the Department of Defense, as well. I think we have to have a shared map, government-wide shared map, to identify the threats that we have. In your testimony, you noted efforts by the Drug Enforcement Administration to map out this data comprehensively. Can you speak about that further please? 
    Shannon Kelly: Thank you so much for that question, Senator Fischer. I agree. I think we all agree that a common operating picture is imperative, and a big challenge for us too is making sure that we are in a place where we can share information freely—from the fed, from the IC, all the way down to our state and local partners. This is where we really rely on the work of our federal agencies to be the bridge so that, as you say, the map, the common operating picture, can be not just conceived, but then communicated from top to bottom.
    Senator Fischer: And how do we achieve that?
    Shannon Kelly: How we achieve that is a work in progress. It is, I won’t lie, it’s a challenge. It’s a challenge both in terms of the security levels, but it’s also a challenge in terms of culture and promoting information sharing. We’re talking about people who are accustomed to building trust with each other as people to share information, and sometimes, when we’re working across communities like that, we have to figure out not just one bridge but multiple ways to bridge that gap.
    Senator Fischer: Thank you very much.

    MIL OSI USA News

  • MIL-OSI USA: NEWS: As Republicans Attempt to Undermine Social Security, Sanders, Warren, Schakowsky, Hoyle Introduce Legislation to Expand Social Security

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders
    WASHINGTON, Feb. 27 – As Donald Trump and Republicans in Congress attempt to advance legislation to give massive tax breaks to billionaires and undermine Social Security, Sens. Bernie Sanders (I-Vt.), Ranking Member on the Senate Finance Committee’s Subcommittee on Social Security, Pensions and Family Policy, and Elizabeth Warren (D-Mass.), along with Reps. Jan Schakowsky (D-Ill.) and Val Hoyle (D-Ore.), introduced the Social Security Expansion Act. The legislation would expand Social Security benefits by $2,400 a year and ensure Social Security is fully funded for the next 75 years by applying the Social Security payroll tax on all income above $250,000. Importantly, this legislation would not raise taxes by one penny on the over 91 percent of American households who make $250,000 or less.
    These estimates reflect an analysis of the legislation conducted by the Social Security Administration at the request of Sen. Sanders in 2023.
    Joining Sanders, Warren, Schakowsky and Hoyle on the Social Security Expansion Act are Sens. Jeff Merkley (D-Ore.), Peter Welch (D-Vt.), Alex Padilla (D-Calif.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Ed Markey (D-Mass.), Cory Booker (D-N.J.), Kirsten Gillibrand (D-N.Y.) and Sheldon Whitehouse (D-R.I.), as well as 17 cosponsors in the House including Reps. Chellie Pingree (D-Maine), Judy Chu (D-Calif.), Steve Cohen (D-Tenn.), Gwen Moore (D-Wis.), Pramila Jayapal (D-Wash.), Rashida Tlaib (D-Mich.), Eleanor Holmes-Norton (D-D.C.), Delia Ramirez (D-Ill.), Christopher R. Deluzio (D-Pa.), Andrea Salinas (D-Ore.), Mark Pocan (D-Wis.), Jill Tokuda (D-Hawaii), Greg Casar (D-Texas), Lois Frankel (D-Fla.), Troy Carter (D-La.), James McGovern (D-Mass.) and Ro Khanna (D-Calif.).
    “At a time when nearly half of older Americans have no retirement savings and over 26% of seniors are trying to survive on an income of less than $17,500 a year, our job is not to cut Social Security as many of our Republican colleagues want to do,” said Sanders. “Our job is to expand Social Security so that every senior in America can retire with the dignity that they deserve and every person with a disability can live with the security they need. The legislation we are introducing today will expand Social Security benefits by $2,400 a year, lift millions of seniors out of poverty and extend the solvency of Social Security for generations to come by making sure that the wealthiest people in our society pay their fair share into the system. Right now, a billionaire pays the same amount into Social Security as someone who makes $176,100 a year. Our bill puts an end to that absurdity. And by doing that, we can expand Social Security benefits and make sure that Social Security can pay out every single benefit owed to every eligible American for the next 75 years.”
    “Social Security serves as a lifeline for millions of seniors, and hardworking Americans deserve to receive the benefits they paid into,” said Warren. “It’s a mistake for Donald Trump and his allies in Congress to focus on securing tax cuts for billionaires and large corporations when we should be focusing on expanding and increasing Social Security benefits so that everyone can retire with dignity.”
    “Social Security is your hard-earned money; it is not an entitlement. President Donald Trump and his unelected billionaire sidekick Elon Musk think they alone can decide if you get your Social Security check. They had better think again. That is stealing. Americans pay into the program with each paycheck. We must expand Social Security benefits, not cut them, and I have a bill to do just that,” said Schakowsky. “The Social Security Expansion Act will protect the national treasure that is Social Security by extending the trust fund’s solvency for 75 years and expanding benefits by $2,400 a year so that everyone in America can retire with the security and dignity they deserve after a lifetime of hard work.”
    “Protecting Social Security is our commitment to seniors who’ve worked their whole lives to earn it,” said Hoyle. “While Congressional Republicans continue to threaten cuts to Social Security, I am proud to join Senator Sanders, Senator Warren and Representative Schakowsky in introducing a concrete proposal that extends the program for another 75 years by having millionaires and billionaires pay their fair share like every other working American. The Social Security Expansion Act was my first bill in Congress, and I will not stop fighting until I see it passed into law.”
    Social Security is the most successful government program in the history of our country. For 86 years, through good times and bad, Social Security has paid out every benefit owed to every eligible American on time and without delay. Before 1935, when it was signed into law by President Franklin D. Roosevelt, about 50 percent of the nation’s seniors lived in poverty, as did countless Americans with disabilities and surviving dependents of deceased workers. Nearly 90 years later, the senior poverty rate is down to 9.7 percent and in 2023 alone, Social Security lifted 27.6 million Americans out of poverty, including more than 19.5 million seniors.
    Despite this success, tens of millions of seniors are still struggling to get by, and many older workers fear that they will never be able to retire with security and dignity. While the average Social Security benefit is only $1,838 a month, nearly 40 percent of seniors rely on Social Security for a majority of their income; one in seven rely on it for more than 90 percent of their income; and nearly half of Americans aged 65 and 74 have no retirement savings at all.
    By requiring millionaires and billionaires to finally pay their fair share into the program, the Social Security Expansion Act would ensure the fund’s solvency to the end of the century, help low-income workers stay out of poverty by improving the Special Minimum Benefit, restore student benefits up to age 22 for children of disabled or deceased workers, strengthen benefits for senior citizens and people with disabilities, increase Cost-Of-Living-Adjustments (COLAs) and expand program benefits across-the-board.
    The Social Security Expansion Act has also been endorsed by over 25 groups, including: Social Security Works, MoveOn, National Committee to Preserve Social Security and Medicare, Strengthen Social Security Coalition, American Federation of Teachers, Justice in Aging, Income Movement, Public Citizen, Blue Future, Campaign for America’s Future, Labor Campaign for Single Payer, Indivisible, American Federation of Government Employees (AFGE), AAFGE Council 215, Alliance for Retired Americans, American Federation of State, County and Municipal Employees (AFSCME), AFSCME Retirees, American Postal Workers Union, People Power United, Left Click, Defeat Republicans, Progress America, The People United, Iron PAC, Puget Sound Advocates for Retirement Action, Progressive Change Campaign Committee, Other98 and Solidarity Action.
    Read the bill text, here.
    Read the fact sheet and full list of supporting organizations, here.
    Read the Social Security Administration’s 2023 analysis of the legislation, here.
    Read a 2021 analysis of what the world’s wealthiest people would pay under this legislation, here.

    MIL OSI USA News

  • MIL-OSI United Nations: New Permanent Representative of Mauritius Presents Credentials

    Source: United Nations 4

    (Based on Information Provided by the Protocol and Liaison Service)

    The new Permanent Representative of Mauritius to the United Nations, Milan J.N. Meetarbhan, presented his credentials to UN Secretary-General António Guterres today.

    Prior to his appointment, he taught at the Mauritius campus of Paris-Panthéon-Assas University and served as a consultant to the university.

    Mr. Meetarbhan previously held the position of Permanent Representative of Mauritius to the United Nations from January 2011 to January 2015.  Before that, he was Chief Executive of the Financial Services Commission from December 2005 to December 2010.Since 1995, he has been a senior adviser to the Prime Minister of Mauritius.

    Earlier in his career, he served as legal adviser in the Ministry of Finance and was later appointed as a member of the Stock Exchange Commission. He also chaired the Financial Services Consultative Committee, a government body responsible for reviewing financial sector legislation.  In addition to his public service roles, he was an Associate Professor of Law and Head of the Law School of the University of Mauritius.

    Mr. Meetarbhan holds a doctorate in international law and a diploma of advanced studies in international economic relations and international organizations law from Sorbonne University in Paris.  He also earned a specialized graduate diploma in diplomacy and international relations from the University of Paris XI.

    __________

    * This supersedes BIO/4267 of 24 January 2011.

    MIL OSI United Nations News

  • MIL-OSI: Deepnight Raises $5.5M To Disrupt Night Vision Industry Using AI

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Feb. 27, 2025 (GLOBE NEWSWIRE) — Deepnight, the first and only company to use AI software for military night vision, announced today it raised $5.5M in funding. Led by Initialized Capital, additional participants include Y Combinator, renowned scientist Vladlen Koltun (co-author of Learning to See in the Dark), angel investor Kulveer Taggar, Brian Shin, a former partner at In-Q-Tel, and Matthew Bellamy, lead singer of the band Muse.

    Deepnight will use the funds to continue to develop its AI-based night vision technology and hire for key roles in computational imaging research.

    “What the Deepnight team has been able to accomplish using AI is truly revolutionary for night vision and will have broad implications for improving safety in low light environments, whether that’s defense, agriculture, or environmental research,” said Kim-Mai Cutler, Partner at Initialized Capital. “We are excited for Deepnight to advance its technology making digital night vision devices more affordable and accessible.”

    Combining low-light cameras with a novel AI image processing algorithm, Deepnight achieves superior low-light imaging performance to existing military night vision created by industry incumbents like L3Harris.

    Right now, state of the art military night vision goggles cost around $13K because they use rare metals and bespoke manufacturing processes. The high cost is attributable to the highly precise manufacturing, as opposed to the mass manufactured CMOS sensors found in digital camera systems. Deepnight instead uses a digital approach: by leveraging the ubiquity of silicon manufacturing, in both sensors and AI chips, Deepnight will mass produce higher performing digital night vision goggles at a fraction of the cost of their analog counterparts.

    In less than a year, Deepnight has earned $4.6M in contracts with the federal government including the Air Force and the Army as well as with companies like Sionyx and SRI International.

    “We are thrilled to work with our investors, which include experts in the fundamental science that we use, to advance our AI model and replace analog night vision with digital cameras enabled by algorithms,” said Lucas Young, Co-Founder and CEO of Deepnight. “This market was very overdue for a disruption and now with advances in AI we can deliver a complete night vision solution to these industries at a much more affordable price point.”

    “What impressed me most about Deepnight is how they’ve fundamentally reimagined night vision technology,” said Kulveer Taggar. “By combining AI with digital sensors, Lucas and his team aren’t just drastically reducing costs, they’re actually delivering superior performance to traditional systems. Securing millions of dollars in government and defense contracts in their first year demonstrates the clear market demand for this breakthrough approach.”

    About Deepnight

    Deepnight is making advanced night vision accessible to everyone, transforming how the world sees after dark with groundbreaking AI-driven solutions. The company has disrupted the market with a digital approach and will mass produce higher performing digital night vision goggles at a fraction of the cost of their analog counterparts. Deepnight’s customers currently include the Air Force, the Army and companies like Sionyx and SRI International. The company is backed by Initialized Capital, Y Combinator and prominent investors and is headquartered in San Francisco. To learn more visit http://deepnight.ai.

    Kerry Metzdorf
    Big Swing Communications
    978-463-2575
    kerry@big-swing.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9d8fcea9-8251-4470-a531-f8fa2bc17ff3

    The MIL Network

  • MIL-OSI: Spree Finance Partners with BookIt to Revolutionize Web3 Commerce and Rewards

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 27, 2025 (GLOBE NEWSWIRE) — Spree Finance, the blockchain-native commerce, rewards, and credit infrastructure network, today announces an exclusive partnership to power payments and rewards for BookIt, the next-gen booking “super-app” from global travel and rewards technology leaders OneCompany and Superlogic. This partnership enables Spree and Bookit to reward consumers for accessing coveted travel, entertainment, and premium retail products and experiences.

    First-of-its-kind Decentralized Commerce Network

    This first-of-its-kind partnership marks the first time cryptocurrency holders can seamlessly transact with 2M+ Real-World merchants and brands in travel, entertainment, and retail directly from their self-custodied wallets, enabling crypto for real-world commerce. Spree’s on-chain payments and Commerce DeFi credit rails will integrate with BookIt’s premium travel and retail merchant network starting today. Users can pay with 3,000+ supported cryptocurrencies and tokens for travel and retail purchases while earning stable-coin-backed rewards: Spree Points.

    “Blockchain technology has proven its major use case of digital-asset-to-digital-asset ‘Trade’, but to reach mass-consumer adoption, we need to solve the use case of digital-asset-to-real-world-commerce ‘Pay’ use case,” said Jared Christopherson, Spree Co-founder. “While many blockchain protocols today are fast and charge low fees, bringing real-world merchants and brands on-chain at scale has been challenging, until now! With 2M+ merchants in its network, BookIt is the perfect partner for Spree to enable the future of decentralized commerce.”

    A Next-Generation Commerce and Credit Infrastructure

    Spree is redefining the future of digital payments with its innovative Commerce DeFi infrastructure, integrating crypto commerce with a robust DeFi credit infrastructure. This approach enables users to transact in digital assets effortlessly while providing merchants with instant liquidity.

    At the heart of the Spree Network is a pair of tokens. Spree token which governs the network while SP (Spree Points), a stable-coin backed “universal rewards” token can not only incentivize users and facilitate transactions across its extensive network of merchants, but also power Spree’s Defi-lending protocol to enable instant settlement for merchants and credit orchestration for consumers. Unlike legacy payment rails like Visa and Mastercard, merchants pay up to 90% less in processing fees when accepting payments over Spree’s decentralized payments network, which leverages secure blockchain-native rails to remove friction and middlemen, and reduce excess fees. Significantly lower fees allow merchants to take control of their revenue and directly reward the end consumer without middlemen. 

    Revolutionizing Rewards and Loyalty

    Offering consumers more than just travel, Bookit provides elite access to VIP experiences, from front-row seats at major sporting events, to exclusive concerts, private wine tours, and celebrity chef tastings. Bookit members can earn up to 10x the rewards of competing platforms, using SP as its native rewards token, providing consumers with additional benefits on purchases, and flexibility when redeeming SP universal rewards points across its network of 2M+ merchants and brands.

    “Our mission with BookIt is to reimagine the e-commerce journey for travel, entertainment and retail as a “consumer-first” experience, where your loyalty is our priority and your rewards is an asset – not something that corporations can arbitrarily devalue,” said Lin Dai, CEO of Superlogic, co-creator of BookIt super-app. “Integrating with Spree’s next-gen commerce and rewards rails is revolutionary for the entire travel and loyalty industry, and we are proud to be the first of many major enterprise partners to partner with Spree.” 

    A veteran in blockchain solutions for enterprises, Lin Dai has worked closely with world-class brands including Warner Music Group, American Express, Pepsi, Anheuser-Busch and more on Web3 initiatives. As part of the new partnership, Lin Dai will be joining Spree’s board to guide its strategy and adoption with enterprise clients. 

    Spree Finance at ETH Denver 2025: Buildathon, Partnerships & Exclusive Events

    Spree will have a dynamic presence at ETH Denver 2025, with co-founder and head of technology Carter Razink actively participating in the Buildathon. As part of its commitment to fostering innovation, Spree will sponsor the Buildathon winner’s trip to the next year’s EthDenver conference, empowering emerging developers to further their journey.

    On February 28, Spree will co-host an exclusive event with leading EthDenver communities including Spork DAO and Pudgy Penguins, bringing together industry leaders, builders, and Web3 enthusiasts, followed by an after-party at Temple nightclub.

    On Mar 1, at the BuiDl stage of the EthDenver conference, at 12:05pm, Lin Dai, Co-CEO of Bookit, Pat Yiu, of MEGA, and Carter Razink, co-founder and head of technology at Spree, will be interviewed live on stage to discuss the partnership and the future of decentralized commerce and credit, while any conference attendees can visit the Spree booth where the team will be showcasing the BookIt super app and Spree’s innovative Commerce DeFi solutions in action. For a limited time, conference attendees visiting the Spree booth will receive a complimentary pre-registration for Gold-tier membership to BookIt, a $99 value, to unlock higher rewards and build up their status towards future on-chain benefits. 

    To close ETH Denver in style, Spree Finance is hosting a private dinner together with leading hedge fund ETH Strategy bringing together key industry leaders and investors from both blockchain and enterprise world, to cross-pollinate ideas and collaborate on the future of mass-consumer adoption.

    For more information, users can visit www.spree.finance and www.bookit.com.

    About Spree

    Spree is a blockchain-native decentralized commerce and rewards protocol that enables frictionless real-world transactions by humans or AI agents. Powered by Spree, 3,000+ tokens can be used with 2M+ major Real-World merchants in travel, entertainment, and retail, earning consumers up to 30% back in on-chain rewards, while reducing merchant processing fees by up to 90%. Users can follow Spree on: https://x.com/spreefinance

    About BookIt

    BookIt is a next-gen platform that rewards consumers for booking coveted travel and entertainment experiences and purchasing premium retail products, co-created by Superlogic, the leader in experiential rewards technology, and Open Network Exchange, the leader in global travel and leisure-based commerce solutions. For more users can visit Bookit.

    Contact

    Jon Phillips

    PhillComm Global

    spree@phillcomm.global

    The MIL Network

  • MIL-OSI Video: Open Forum: Protecting LGBTQI+ Lives | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    LGBTQI+ individuals face rising global threats to their safety and well-being. Upholding a full spectrum of rights, protections and opportunities is crucial to promote equality and dignity.

    How can government, civil society and business collaborate to ensure inclusivity, reduce stigma and protect LGBTQI+ lives in hostile environments?

    Speakers: Frida Daniela Ruíz, Ben Fajzullin, Alexander Cheng, Sarah Kate Ellis, Jin Xing, Jean Daniel LaRock

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=5PVIgGC33Ec

    MIL OSI Video

  • MIL-OSI USA: Southern Tier Winners of DRI and NY Forward Program

    Source: US State of New York

    Governor Kathy Hochul today announced that Binghamton will receive $10 million in funding as the Southern Tier winner of the eighth round of the Downtown Revitalization Initiative, and the Villages of Bath and Dryden will each receive $4.5 million as the Southern Tier winners of the third round of NY Forward. For Round 8 of the Downtown Revitalization Initiative and Round 3 of the NY Forward Program, each of the State’s 10 economic development regions are being awarded $10 million from each program to make for a total state commitment of $200 million in funding and investments, to help communities boost their economies by transforming downtowns into vibrant neighborhoods.

    “By investing in the future of these Southern Tier communities, this funding will revitalize their downtown areas by building vibrant and thriving destinations where businesses, families and visitors can flourish,” Governor Hochul said. “With our Pro-Housing Communities initiative, we’re giving local leaders the tools to transform their cities, towns and villages into hubs of opportunity, culture and affordable living. This is how we build stronger, more connected communities that work for everyone across New York.”

    To receive funding from either the DRI or NY Forward program, localities must be certified under Governor Hochul’s Pro-Housing Communities Program — an innovative policy created to recognize and reward municipalities actively working to unlock their housing potential. Governor Hochul’s Pro-Housing Communities initiative allocates up to $650 million each year in discretionary funds for communities that pledge to increase their housing supply; to date, 273 communities across New York have been certified as Pro-Housing Communities. This year, Governor Hochul is proposing an additional $100 million in funding to cover infrastructure projects necessary to create new housing in Pro-Housing Communities, and a further $10 million to technical assistance to help communities seeking to foster housing growth and associated municipal development.

    Many of the projects funded through the DRI and NY Forward support Governor Hochul’s affordability agenda. The DRI has invested in the creation of more than 4,400 units of housing — 1,823 of which are affordable or workforce. The programs committed over $8.5 million to 11 projects that provide affordable or free child care and child care worker training. DRI and NY Forward have also invested in the creation of public parks, public art (such as murals and sculptures) and art, music and cultural venues that provide free outdoor recreation and entertainment opportunities.

    $10 Million Downtown Revitalization Initiative Award for Binghamton

    The City of Binghamton’s Clinton Street Neighborhood Business District is primed for revitalization. Its historic storefronts, walkable footprint, development ready spaces and proximity to Binghamton’s urban core make it ready-built as the next great downtown in Upstate New York. The Clinton Street corridor is recognized as the “backbone” of the City’s First Ward, providing a social center with dense commercial activity proximate to nearby residential areas. The area has a storied history of immigration, a legacy still felt today in the diverse churches and neighborhoods of the First Ward. The area also boasts a history of a “walk to work” culture fostered by General Aniline and Film (GAF)/Anitec Industries, a former area employer who attracted economic and social activity in the neighborhood. Binghamton seeks to make Clinton Street a reinvigorated corridor better connected to the city and serving the First Ward neighborhood through support for infill development, expanded affordable housing, adaptive reuse and rehabilitation and enhanced public infrastructure. Combined, these improvements will offer a welcoming, eclectic atmosphere fostering innovation, entrepreneurship and retail activity while retaining cultural and historical heritage.

    $4.5 Million NY Forward Award for Bath

    Situated along the scenic Cohocton River, the Village of Bath is a historic planned community that serves as a “Gateway” to Keuka Lake — renowned for its scenery, wineries and vineyards. The Village of Bath has experienced significant changes over the past decade and has recognized the need to strengthen its core and return to its role as the downtown neighborhood that people experience and enjoy. The Village’s Liberty Street Historic District revitalization is the next step in this journey. The Village seeks to bolster growth by creating an active downtown with enhanced public spaces, strategic placement of amenities and new housing opportunities that will attract visitors and foster an atmosphere that will retain and attract residents and businesses.

    $4.5 Million NY Forward Award for Dryden

    Dryden is an ideal place for young families to grow and for older generations to age. Home to just over 2,000 residents, Dryden has developed over time as a small bedroom community to the nearby cities and universities and as an extremely high traveled and visited community. With median home values and rents that are affordable to all, Dryden’s parks, tree-lined sidewalks and friendly neighborhoods make it a desirable small community to live in, promoting a high quality of life. Dryden seeks to reinvest in its historic downtown by continuing to support an attractive and inviting Main Street with a robust mix of shopping, dining and residential spaces to foster a high quality of life for its residents. The Village will foster a welcoming and walkable downtown community where residents can live a sustainable lifestyle in friendly neighborhoods with convenient access to goods and services.

    New York Secretary of State Walter T. Mosley said, “The Downtown Revitalization Initiative and NY Forward program are playing a pivotal part in the resurgence of the Southern Tier region. The three communities selected as winners for this round — Binghamton, Bath and Dryden — are all focused on creating walkable downtowns with increased housing and economic opportunities that will improve the quality of life for existing residents and attract even more people to their communities. We look forward to seeing the exciting projects these communities select to make their visions for the future become a reality.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “These dynamic, community-led Downtown Revitalization Initiative and NY Forward investments will further fuel the economic engines needed to support local businesses, create new housing and foster growth in the City of Binghamton and the villages of Bath and Dryden. The transformational, inclusive plans will infuse new life into these communities, creating innovative spaces and places that will benefit both current and future generations of residents and visitors, showcasing all that the Southern Tier region has to offer.”

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Today’s $19 million investment in Bath, Dryden and Binghamton’s Clinton Street Neighborhood, continue the Downtown Revitalization Initiative and NY Forward’s history of having a transformative impact on communities across New York. These three communities will soon experience benefits including increased housing supply and improved infrastructure that will enhance vibrancy and promote walkability. Thank you to Governor Hochul for her continued commitment to these targeted investments that create new economic opportunities in the Southern Tier.”

    State Senator Lea Webb said, “It is exciting to see continued investments in our downtowns, which are integral in community development. The City of Binghamton and Village of Dryden will receive funding through the Downtown Revitalization Initiative and the New York Forward programs. These state initiatives provide critical funding to support the revitalization and growth of downtowns small and large across New York. I am excited to see the full potential of the Clinton Street Corridor unlocked with this funding so that it can continue its growth as a vibrant neighborhood, attracting more businesses, residents and visitors to Binghamton’s First Ward. I am also thrilled to see the Village of Dryden receive this transformative funding, which will help reenergize the downtown, support long-term growth and economic prosperity.”

    State Senator Thomas O’Mara said, “This is great news for the Village of Bath that will allow local leaders to move forward on development projects that will strengthen our entire region. State investments through the NY Forward program and other initiatives have had an enormously positive impact on communities I represent across the Southern Tier and Finger Lakes regions. These critical state investments have helped our local leaders bolster local communities and economies, spark economic growth and opportunity within the tourism sector and other small businesses and industries, ease the burden on local property taxpayers and strengthen the overall quality of life for community residents and families.”

    Assemblymember Anna Kelles said, “I was thrilled to learn of this award and excited for all the creative and thoughtful initiatives the Village of Dryden will invest in with this NY Forward Grant award. These much-needed funds will play a key role in revitalizing the village’s original business section on West Main Street, an area rich with history. By restoring and enhancing this district, the grant will not only preserve the village’s heritage, but also foster economic growth by attracting new businesses and visitors to support a vibrant walkable downtown. Additionally, these improvements will foster a strong pedestrian-friendly hub, encouraging community engagement and making Dryden an even more welcoming place to live, work and explore. I want to thank Governor Hochul and the Regional Economic Development Council for committing to our growth and helping build our communities.”

    Assemblymember Donna Lupardo said, “I am thrilled that the City of Binghamton’s proposal to revitalize Clinton Street won this year’s Downtown Revitalization Initiative. They have exciting plans to develop this historically important section of the city into a thriving hub once again. The DRI and NY-Forward initiatives deliver resources that are reimagining important community spaces across the State. Over the years, we have seen real results from these efforts here in the Southern Tier. I’d like to thank the Governor, the Southern Tier Regional Economic Development Council and all of the awardees for their effort to transform our downtowns.”

    Assemblymember Philip A. Palmesano said, “This is terrific news for the Village of Bath and the surrounding community. The Village has worked tirelessly, finding ways to move forward with the strategic goals outlined in their Economic Development Strategic Action Plan, Housing Demand Study and Liberty Street Building Evaluation and Design Guidelines. Funding from the NY Forward program will give them the ability to implement that vision to benefit the whole community by promoting economic growth and strengthening the Village’s position as a hub for increased tourism and local investment. Thank you to the Regional Economic Development Council and Governor Hochul for recognizing the hard work and commitment of our local leaders.”

    Binghamton Mayor Jared Kraham said, “From my first days in office, we’ve been fighting for the First Ward. I made a commitment early on to invest in the Clinton Street neighborhood and work alongside community partners to unlock its potential as the Southern Tier’s next great downtown. Today’s announcement of $10 million in State funding kicks that work into overdrive and brings us one major step closer to making our vision a reality. Clinton Street’s time is now. With this historic investment from New York State and the hard work of our First Ward partners, the team at City Hall has never been better equipped to deliver on the promise of a better future for the First Ward and our community as a whole. I am grateful to Governor Kathy Hochul and the Regional Economic Development Council for recognizing our vision and supporting our efforts to make it a reality.”

    Village of Dryden Mayor Michael Murphy said, “We are incredibly excited and grateful that the Village of Dryden has been awarded $4.5 million from the NY Forward Grant Program! This achievement represents the culmination of a collaborative effort between the Village Board, our dedicated staff, the Dryden Business Association and passionate community members. With the combined support of state and private funding, the Village of Dryden is poised to transform into a thriving destination for new businesses and families. We extend our heartfelt thanks to Governor Hochul for this incredible program and for recognizing the potential of the Village of Dryden. Together, we are building a brighter future for our residents and businesses!”

    Village of Bath Mayor Michael Sweet said, “We are incredibly grateful to Governor Kathy Hochul for awarding this NY Forward grant and to the members of the Regional Economic Development Council for their support in making this possible. A special thank you to Omar Sanders, Regional Director; Judy McKinney-Cherry, Executive Director of SCOPED; Jamie Johnson, Executive Director of the Steuben County IDA; and Matthew Bull, Director of Community and Infrastructure Development at the Steuben County IDA, for their unwavering commitment to our community’s growth. Your leadership and dedication are truly making a lasting impact, and we deeply appreciate all that you do.”

    Southern Tier Regional Economic Development Council Co-Chairs Judy McKinney-Cherry and Dr Mary Bonderoff said, “The STREDC is incredibly proud to continue our support for the City of Binghamton and the villages of Dryden and Bath, and their promising futures thanks to the Governor’s Downtown Revitalization and NY Forward Initiatives. These targeted, community-driven projects will benefit both residents and visitors alike, promoting economic growth and creating more vibrant downtowns where people will want to live, work and play for generations to come.”

    Binghamton, Bath and Dryden will now begin the process of developing a Strategic Investment Plan to revitalize their downtowns. A Local Planning Committee made up of municipal representatives, community leaders and other stakeholders, will lead the effort, supported by a team of private sector experts and state planners. The Strategic Investment Plan will guide the investment of DRI and NY Forward grant funds in revitalization projects that are poised for implementation, will advance the community’s vision for their downtown and can leverage and expand upon the State’s investment.

    The Southern Tier Regional Economic Development Council conducted a thorough and competitive review process of proposals submitted from communities throughout the region and considered all criteria before recommending these communities as nominees.

    About the Downtown Revitalization Initiative

    The Downtown Revitalization Initiative was created in 2016 to accelerate and expand the revitalization of downtowns and neighborhoods in all 10 regions of the State to serve as centers of activity and catalysts for investment. Led by the Department of State with assistance from Empire State Development, Homes and Community Renewal and NYSERDA, the DRI represents an unprecedented and innovative “plan-then-act” strategy that couples strategic planning with immediate implementation and results in compact, walkable downtowns that are a key ingredient to helping New York State rebuild its economy from the effects of the COVID-19 pandemic, as well as to achieving the State’s bold climate goals by promoting the use of public transit and reducing dependence on private vehicles. Through eight rounds, the DRI will have awarded a total of $900 million to 89 communities across every region of the State.

    About the NY Forward Program

    First announced as part of the 2022 Budget, Governor Hochul created the NY Forward program to build on the momentum created by the DRI. The program works in concert with the DRI to accelerate and expand the revitalization of smaller and rural downtowns throughout the State so that all communities can benefit from the State’s revitalization efforts, regardless of size, character, needs and challenges.

    NY Forward communities are supported by a professional planning consultant and team of State agency experts led by DOS to develop a Strategic Investment Plan that includes a slate of transformative, complementary and readily implementable projects. NY Forward projects are appropriately scaled to the size of each community; projects may include building renovation and redevelopment, new construction or creation of new or improved public spaces and other projects that enhance specific cultural and historical qualities that define and distinguish the small-town charm that defines these municipalities. Through three rounds, the NY Forward program will have awarded a total of $300 million to 60 communities across every region of the State.

    MIL OSI USA News

  • MIL-OSI: The Victory Bancorp, Inc. to Present at the Banking Virtual Investor Conference March 6th

    Source: GlobeNewswire (MIL-OSI)

    LIMERICK, Pa., Feb. 27, 2025 (GLOBE NEWSWIRE) — The Victory Bancorp, Inc., (VTYB) based in Limerick, PA, focused on business banking, today announced that Joseph Major, CEO & Chairman, will present live at the Banking Virtual Investor Conference hosted by VirtualInvestorConferences.com, on March 6th, 2025

    DATE: March 6th
    TIME: 1 pm – 1:30 pm EST
    LINK: https://bit.ly/41x8NQ1

    Available for 1×1 meetings: March 6th, 1:30 pm 4:30 pm

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

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

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

    2024 Financial Highlights:

    • Loan Growth: Up $26.6M despite higher rates and softer demand, reflecting strong lending focus.
    • Deposit Growth: Increased $33M, driven by exceptional service and relationship banking.
    • Capital Acquisition: Issued $4.65M in subordinated debt; $2.5M allocated to support growth and capital.
    • Earnings: Q4 net earnings rose $83K year-over-year; slightly down from Q3 ($586K to $558K); Q4 ROAE at 7.58%.
    • Book Value: Stable at $14.84 per share (Q4), down slightly from $14.89 (Q3).
    • Equity: Grew by $1.4M year-over-year to December 31, 2024.
    • Dividends: Paid $0.065 per share in Q4; $0.26 for the year.

    Loan Quality Metrics (as of December 31, 2024):

    • Losses to Average Loans: 0.0% vs. peer average of 0.05%.
    • 30-89 Day Past Due Loans: 0.01% vs. peer average of 0.42%.
    • Non-Performing Loans: 0.05% vs. peer average of 0.49%.

    Victory Bancorp, Inc. is traded on the OTCQX market under the symbol VTYB and is the parent company of The Victory Bank. The Bank, founded in 2008, is a Pennsylvania state-chartered commercial bank headquartered in Limerick Township, Montgomery County. It offers a full range of banking services, including checking and savings accounts, home equity lines of credit, and personal loans. In addition to traditional banking, the Bank specializes in high-quality business lending, serving small and mid-sized businesses and professionals. With three offices across Montgomery and Berks Counties, it is dedicated to meeting the financial needs of the local community. For more information, visit its website at VictoryBank.com. FDIC-Insured.

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

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

    CONTACTS:

    The Victory Bancorp, Inc.
    Joseph W. Major,
    Chairman and Chief Executive Officer

    Robert H. Schultz,
    Chief Financial Officer, Chief Operating Officer

    Owen Magers
    Investor Relations
    484-791-3435

    The Victory Bancorp, Inc.
    548 N. Lewis Rd.
    Limerick, PA 19468
    610-948-9000

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

    The MIL Network

  • MIL-OSI Europe: Press release – The EU-US partnership matters

    Source: European Parliament 3

    President Metsola in the US, addresses Johns Hopkins University in Washington

    The President of the European Parliament, Roberta Metsola said that the EU and the US have stood on the same side of history “not because we are homogenous, but because our greatest victories come from our shared conviction to doing what is right. This partnership matters.”

    Speaking at the Johns Hopkins University in Washington DC, President Metsola said that the world relies on the strength of the transatlantic relationship which goes beyond shared trade, commerce and industry. President Metsola listed common values that the two sides have championed throughout the decades, including dignity of every human being, equal opportunity for everyone to reach their full potential, justice, the right to feel safe and live in safety and the belief in freedom – “individual liberty, free trade, freedom to disagree and the cornerstone of everything: freedom of speech.”

    Simplification, rather than complicating systems, is on top of Europe’s agenda, she said, addressing the sense of frustration that voters expressed during June’s elections. The President added that solutions can be found to make it easier for companies to do business with and within Europe. Meeting with European industry leaders in DC that have massive operations in the US, she told them that Europe has their back. President Metsola also met with US companies to explain Europe’s future-driven approach, underlining that it is open for business.

    The President of the European Parliament said that the EU and the US “can find a way for us all to win. That is why I think we should be talking about trade agreements rather than tariffs. We are not out to screw anyone”. On the latest US administration’s announcements on tariffs, President Metsola said that the EU will react firmly and immediately against unjustified barriers to free and fair trade, including when tariffs are used to challenge legal and non-discriminatory policies.

    On defence, she called for an increase in defence spending. “We will put our money where our mouth is. We know that our commitment needs to match the level of threat we are facing. That threat is very high.”

    Underlining that “peace is the essence of the European Union,” she remarked that the EU always wanted peace in Ukraine, acknowledging the cost and the devastation of war that many generations of people from across Europe had to endure. “At the same time, we also need to be honest with ourselves: peace without freedom, peace without dignity, peace without justice, peace not based on the principle of ‘anything about Ukraine without Ukraine,’ is no real peace at all,” stated President Metsola. “Europe is ready to play our part in guaranteeing peace and stability in Ukraine because we know that this means peace and stability in Europe and that is a win-win for all.”

    Find the full speech here.

    MIL OSI Europe News

  • MIL-OSI Global: How the UK’s rollback of banking regulations could risk another financial crisis

    Source: The Conversation – UK – By Alper Kara, Head of Department of Economics and Finance, Brunel University of London

    1000 Words/Shutterstock

    After the global financial crisis of 2007-08, the UK’s banking sector was placed under a much stricter regime. Bonuses were limited, regulations were beefed up and the whole industry scrutinised like never before.

    The idea was to make banks safer places for everyone’s money. But regulators are now thinking about easing some of these financial safeguards in a bid to boost economic growth.

    One proposal is to change the rules on mortgage affordability. One industry regulator, the Financial Conduct Authority, is considering relaxing the lending restrictions which were designed to prevent households from building up unsustainable debt.

    This includes reviewing affordability tests and allowing banks to lend more freely to borrowers with smaller deposits or lower incomes. Some commentators argue that these changes will help first-time buyers and increase overall mortgage availability.

    But the risks of easier mortgage lending cannot be ignored. Before the last crisis, lenders approved loans to borrowers without verifying income or creditworthiness, assuming that rising property values would provide a safety net.

    And when interest rates increased and property values collapsed, many borrowers could not afford their repayments – and lost their homes.

    In fact, mortgage repayments are already becoming more difficult. The Bank of England has warned that over 1.5 million UK households will face significantly higher mortgage costs in 2025 after their current deals expire.

    And loosening lending rules could easily push house prices even higher. When more buyers qualify for mortgages, demand for housing increases and prices go up. This makes home ownership even less affordable, especially for those first-time buyers.

    Expanding access to debt without fixing underlying issues around housing supply only creates more financial risk. And it seems to be part of a broader trend towards deregulation.

    Internationally agreed banking rules, which require banks to hold more capital as protection against financial shocks, are being delayed in the UK until 2027. The Bank of England has justified the wait by
    saying that banks need more flexibility to increase lending and investment without the constraints those rules would bring.

    Banks are also challenging regulations that require them to hold on to a specific type of debt designed to ensure that failing banks can absorb financial losses without taxpayer bailouts. But if these rules are weakened, the banking system could become more fragile, forcing governments to intervene.

    The banking system is showing other signs of fragility too.

    Banking on regulations

    One worrying trend is the increasing use of something called “synthetic risk transfers”. This is a technique that banks use to reduce the amount of risk on their balance sheets, by transferring it to outside investors – such as hedge funds or insurers – through special financial contracts.

    These are sometimes compared to “collateralised debt obligations” (or CDOs), where a bank bundles multiple loans (such as mortgages, corporate debt or car loans) and sells portions of that bundle to investors. These complex transactions were a key factor in the global financial crisis because they concealed risky loans, spreading financial instability across global markets.

    Then there’s the UK’s motor finance sector, where lenders have been accused of charging excessive interest rates on car loans. This could lead to compensation claims of up to £44 billion, making it potentially one of the biggest consumer finance scandals since payment protection insurance (PPI).

    On that occasion, banks and lenders wrongly sold PPI to millions of customers, leading to a record £50 billion in compensation payouts.

    With the ongoing case of motor finance, the British government wanted regulators to limit compensation payouts to avoid disrupting financial markets, but this was rejected by the supreme court.

    Yet despite these problems, some still claim that deregulation will do wonders for the sector’s financial flexibility. The British chancellor Rachel Reeves has argued that relaxing some regulations and reducing red tape will encourage growth and increase the UK’s competitiveness in global financial markets.

    Sometimes there’s a reason for red tape.
    Oksana Valiukevic/Shutterstock

    Perhaps she agrees with Donald Trump, whose aggressive financial agenda includes relaxed capital requirements and weakened regulatory oversight.

    But past experience suggests that weakening financial safeguards and encouraging more debt in pursuit of short term growth can have severe long-term consequences.

    Research shows that financial deregulation often leads to financial instability and economic crises. It also suggests that expanding credit does not fix housing affordability, and that reducing capital requirements does not make banks safer.

    The global financial crisis was a direct result of excessive risk-taking in an underregulated system. Governments had to bail out banks with taxpayer money, leading to more than a decade of austerity.

    The same mistakes could happen again. For now though, it looks like some of those hard lessons have been forgotten.

    Alper Kara 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. How the UK’s rollback of banking regulations could risk another financial crisis – https://theconversation.com/how-the-uks-rollback-of-banking-regulations-could-risk-another-financial-crisis-249386

    MIL OSI – Global Reports

  • MIL-OSI Global: Colombia wants to ban Pablo Escobar and other narco-themed merchandise – here’s why

    Source: The Conversation – UK – By Ross Bennett-Cook, PhD Researcher, Carnegie School of Sport, Leeds Beckett University

    When you think of Colombia, what images come to mind? For some, it may be coffee or perhaps the country’s diverse landscapes and cultures. For many others, it will be cartels, crime and cocaine.

    Colombia’s history as a drug trafficking hub plays a major role in attracting visitors to the country – a form of travel known as “dark tourism”. But the Colombian government and much of the population are desperate to shake off this sordid association.

    A new bill going through Colombia’s congress is proposing to ban the sale of souvenirs that depict notorious drug lord Pablo Escobar and other convicted criminals. The proposed law would mean fines for those who violate the rules, and a temporary suspension of businesses.

    Colombia became a major producer of cocaine in the 1970s, fuelled by demand in North America. Led by Escobar, the Medellín cartel dominated this trade, controlling roughly 80% of the cocaine supply to the US.

    In 1988, Time magazine famously dubbed Medellín the “most dangerous city” in the world. Car bombings, assassinations, kidnap and torture became part of everyday life. In a failed attempt to assassinate presidential hopeful César Gaviria in 1989, Escobar was even behind the bombing of a commercial flight that killed all 107 passengers and crew onboard.

    By 1991, the homicide rate in Medellín was a shocking 381 for every 100,000 inhabitants, with 7,500 people murdered in the city that year alone. In comparison, there were a total of 107 homicides in London in 2024.

    Nowadays, Medellín is much more peaceful. Since Escobar’s death in 1993, its homicide rate has dropped by 97% due to increased security crackdowns and peace deals between the narco gangs.

    Colombia now has a booming tourism industry, breaking records for its highest number of visitors in 2024. Medellín has even become a trendy location for digital nomads due to its exciting nightlife, stunning landscape and excellent weather.

    A tourist poses for a picture in the Comuna 13 neighbourhood of Medellín.
    Anamaria Mejia / Shutterstock

    Yet, when I visited Colombia in 2024, it was hard not to become infatuated by Escobar. His face is everywhere: on key rings, magnets, mugs and t-shirts, while you often see lookalikes posing for photographs. Even airports – the last place I would expect to be associated with drugs – stock Escobar souvenirs.

    A quick look on TripAdvisor’s “best things to do in Medellín” shows Museum Pablo Escobar at number one. Almost every tour in the city is related to the notorious cartel leader, including visits to the neighbourhoods he controlled (and often terrorised), his hideout spots, and the location of his final shootout with the police.

    Narco tourism’s boom can be largely attributed to the huge popularity of Narcos, a critically acclaimed series on Netflix that dramatised the life of Escobar. But shows such as Narcos have been criticised by some experts for glorifying the cartel lifestyle – focusing on money, glamour and sex rather than the harsh realities of life within Colombia’s drug trade.

    According to dark tourism researcher Diego Felipe Caicedo, popular media related to narco culture often portrays cartel members as heroes managing to defeat the class structure established by the elite capitalist system.

    This has resulted in a dissonant heritage of people like Escobar. To some, he is a Robin Hood-type figure who built houses and gave to the poor. To others, he is an evil figure and vicious murderer. And while Escobar did use some of his fortune to improve deprived neighbourhoods, many saw this as a tactic to buy loyalty and mask his criminal activity.

    The romanticism of Escobar angers many in Colombia who hate the idea of a murderous drug tycoon being the most recognised image of the country. In a city where almost every family knows of someone affected by the violent consequences of the drug trade, victims in Medellín now live with reminders plastered across storefronts, vendor stalls and tourist’s t-shirts.

    Yet those who rely on this souvenir trade are furious at the possibility of restrictions. In many developing tourist destinations, selling souvenirs is an accessible way of benefiting from tourism and can act as a gateway out of poverty.

    The souvenir trade is one of supply and demand – vendors are only selling Escobar souvenirs because they are the most popular. So, perhaps the focus should be on changing the attitudes and interests of tourists, rather than penalising the vendors.

    Controlling the narrative

    Camille Beauvais, a researcher of Colombian history, suggests it is up to local authorities to take control of the narrative through commemoration and education. This could follow the example of the anti-mafia museum in Palermo, Italy, which is designed to recognise the courage of the city and its people in standing up to criminal activity.

    Attempts like this could steer tourists away from sensationalist tours to a more nuanced and historically accurate representation of this turbulent time. But the Colombian authorities have, up to now, tried to ignore this important period in the country’s history.

    It was only in 2022 that the Colombia Truth Commission released an official report on the root causes of violence in Colombia, including governmental and international failures in tackling narcotraffickers.




    Read more:
    Dark tourism: why atrocity tourism is neither new nor weird


    However, some groups in Colombia have already tried to develop an alternate narrative. In 2019, the NGO Colombia ConMemoria (Colombia Remembers) created an online “Narcostore”, a fake souvenir website full of Escobar-themed products.

    When visitors clicked to purchase the item, they were redirected to video testimonies of those affected by the drugs trade, many of whom had lost friends or relatives to Escobar’s terror. The site reached 180 million visitors worldwide.

    Narco tourism does not seem to be disappearing. Fascination with true crime, drugs and cartels is as popular as ever. But perhaps these tourists should take a moment to consider how they might feel, if someone who had murdered their loved ones became a souvenir fridge magnet for people to remember their country by.

    Ross Bennett-Cook 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. Colombia wants to ban Pablo Escobar and other narco-themed merchandise – here’s why – https://theconversation.com/colombia-wants-to-ban-pablo-escobar-and-other-narco-themed-merchandise-heres-why-249916

    MIL OSI – Global Reports

  • MIL-OSI Global: Domestic abuse: how it escalates and why that makes it so hard to leave

    Source: The Conversation – UK – By Tirion E. Havard, Professor of Gender Abuse and Policy, London South Bank University

    Ryan Wellings has been jailed for more than six years after the death of his partner Kiena Dawes. Wellings was convicted of assault and coercive and controlling behaviour, having abused Dawes repeatedly throughout their relationship.

    Dawes took her own life in July 2022 and squarely blamed Wellings’ abuse, leaving a suicide note that read: “I was murdered. Slowly … Ryan Wellings killed me.” Wellings was acquitted of manslaughter.

    In the UK it is estimated that 1.6 million women aged 16 and over experienced domestic abuse last year. Yet when we hear horrific stories like Dawes’s, a common response is to ask, “Why would she stay with him?” This attitude perpetuates misconceptions about abuse, and misses the reality that anyone can become a victim.

    Abuse often escalates over time, meaning that what looks like a loving relationship initially may become violent or controlling.


    Want more politics coverage from academic experts? Every week, we bring you informed analysis of developments in government and fact check the claims being made.

    Sign up for our weekly politics newsletter, delivered every Friday.


    In the 1970s, psychologist Lenore Walker’s book The Battered Woman Syndrome proposed a theory that abuse in intimate relationships often occurs in a cycle, consisting of three main phases.

    The first, tension building, is when the perpetrator indicates signs of anger or frustration and can last from minutes to months. It usually escalates until it shifts into the second phase (explosion), when there is physical or sexual violence.

    After the event, the perpetrator may feel some remorse or guilt at the violence. Here they may enter the honeymoon phase, when the perpetrator apologises and promises that it will never happen again. The cycle is repeated, often becoming quicker (the honeymoon phase becomes shorter).

    This explanation can be overly simplistic and is not consistent with all survivors’ experiences. But it can be helpful to understand how abuse can change over time.

    As a probation officer, I worked with a woman who was severely abused by her long-term partner. Convinced that if she left him, he would kill her, she developed coping strategies based on the cycle of abuse. As the tension-building phase intensified, she became adept at recognising when the risk he posed became life-threatening.

    To avoid an explosion (and serious harm to herself) she would deliberately shoplift in front of security guards. Her criminal record and reputation was so well established that she was banned from most shops in her area.

    Once in court, she would plead for a custodial sentence. This would offer her some safety and “time out” from the abuse, but it also gave her partner time to reflect. At the time of her release, he would be sufficiently remorseful and the honeymoon period would start again.

    Control and isolation

    Like most intimate connections, abusive relationships typically start filled with romance, excitement and lust. In these early periods, perpetrators can be “over the top” with excessive communication and extreme flattery, even showering their partner with unnecessary gifts.

    This “love bombing” is often accompanied with early and intense conversations about a future together, as exhibited by Wellings who had Kiena Dawes’s name and face tattooed on his body within only days of meeting.

    Physical abuse typically comes later, sometimes triggered by life events such as marriage, pregnancy or childbirth. Usually, elements of control seep into the relationship as the couple becomes more established. These acts are discrete and difficult for the survivor, friends, family and professionals to recognise.

    Abusers may persuade their partner to stay in to watch a film or have a romantic meal at home, rather than going out to meet friends or family. When a night out is organised, the perpetrator might invite themselves or turn up unexpectedly to social events.

    This isolation is part of a perpetrator’s wider intention to control their partner. With no one to speak to and nothing to measure their relationship against, it becomes more difficult for survivors to recognise their relationship as abusive. Instead, they may doubt themselves and their perceptions.

    Even if they do recognise their relationship as abusive, the lack of contact with others makes it more difficult to reach out for help. Survivors feel trapped, having no choice but to stay.

    Mobile phones and other tech have given abuse perpetrators a new tool of control.
    Bits and Splits/Shutterstock

    Over time, the control escalates and becomes more overt, often hiding in plain sight. As a probation officer, I once worked with a perpetrator who, on his wedding night, took the hotel towel and used it to strangle his new wife.

    Thereafter when they had guests, he would purposefully place a towel over a chair – signalling to his partner that her friends needed to leave, or that she had crossed an invisible line and she would pay for it later.

    The symbolism of this simple act would likely be missed by those around the couple, but would serve as a warning to the survivor of the abuse that was to come. As the evening continued, the tension would build alongside her crippling fear.

    This kind of control can also occur when someone experiencing abuse is out in public or with friends. As I have found in my research, smartphones have given abusers more tools to control their victims, creating a panopticon effect, where victims feel surveilled and watched by their partners 24/7.




    Read more:
    Even before deepfakes, tech was a tool of abuse and control


    Breaking the cycle

    As Kiena Dawes’ story shows, there is no easy way to break this cycle. Research has shown that leaving an abusive relationship can be dangerous for women, as abuse typically continues post-separation.

    The number of suicides linked with domestic abuse has risen steadily in recent years. There are currently more domestic abuse related deaths linked to suicide than homicide between partners. Between 2019 and 2022, 30% of suspected suicides in Kent and Medway identified domestic abuse as a factor.

    The last government took important steps to recognise that abusive relationships can and do result in survivors taking their own lives, replacing the term “domestic homicide” with “fatal domestic abuse” in law.

    Yet misunderstandings, particularly about why people stay with their abusers, persist. When faced with women who are experiencing abuse, the question should not be why do they stay, but what is stopping them from leaving – and how do we remove those barriers?


    If you or someone you know is affected by abuse, the National Domestic Abuse Helpline is 0808 2000 247, and other resources are available.

    Tirion E. Havard 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. Domestic abuse: how it escalates and why that makes it so hard to leave – https://theconversation.com/domestic-abuse-how-it-escalates-and-why-that-makes-it-so-hard-to-leave-238919

    MIL OSI – Global Reports

  • MIL-OSI Global: A robot nearly headbutted a festival spectator in China – here are four urgent steps to make the tech safer

    Source: The Conversation – UK – By Carl Strathearn, Lecturer in Computer Science, Edinburgh Napier University

    Humanoid robots will start to become much more common as prices tumble. thinkhubstudio

    Humanoid robots are supposed to be our loyal assistants, but we saw another side to them the other day. Chinese robot manufacturer Unitree was demonstrating its latest H1 robots at a lantern festival in the city of Taishan, Guangdong province, when one walked up to the crowd barrier and seemed to lunge at an elderly woman, nearly headbutting her.

    The incident quickly went viral, and sparked a fierce debate about whether the robot actually attacked the woman or had tripped up. It’s mostly being overlooked that we’re a long way from having robots that could intentionally attack someone – machines like these are often remote controlled – but the danger to the public is clearly real enough.

    With sales of humanoid robots set to skyrocket over the next decade, the public will increasingly be at risk from these kinds of incidents. In our view as robotics researchers, governments have put very little thought into the risks.

    Here are some urgent steps that they should take to make humanoid robots as safe as possible.

    1. Increase owner requirements

    The first important issue is to what extent humanoid robots will be controlled by users. Whereas Tesla’s Optimus can be remotely operated by people in a control centre, others such as the Unitree H1s are controlled by the user with a handheld joystick.

    Currently on sale for around £90,000, they come with a software development kit on which you can develop your own artificial intelligence (AI) system, though only to a limited extent. For example, it could say a sentence or recognise a face but not take your kids to school.

    Who is to blame if someone gets hurt or even killed by a human-controlled robot? It’s hard to know for sure – any discussion about liability would first involve proving whether the harm was caused by human error or a mechanical malfunction.

    This came up in a Florida case where a widower sued medical robot-maker Intuitive Surgical Inc over his wife’s death in 2022. Her death was linked to injuries she sustained from a heat burn in her intestine during an operation that was caused by a fault in one of the company’s machines.

    The case was dropped in 2024 after being partially dismissed by a district judge. But the fact that the widower sued the manufacturer rather than the medics demonstrated that the robotics industry needs a legal framework for preventing such situations as much as the public do.

    While for drones there are aviation laws and other restrictions to govern their use in public areas, there are no specific laws for walking robots.

    So far, the only place to have put forward governance guidelines is China’s Shanghai province. Published in summer 2024, these include stipulating that robots must not threaten human security, and that manufacturers must train users on how to use these machines ethically.

    For robots controlled by owners, in the UK there is currently nothing preventing someone from taking a robot dog out for a stroll in a busy park, or a humanoid robot to the pub for a pint.

    As a starting point, we could ban people from controlling robots under the influence of alcohol or drugs, or when they are otherwise distracted such as using their phones. Their use could also be restricted in risky environments such as confined spaces with lots of members of the public, places with fire or chemical hazards, and the roofs of buildings.

    2. Improve design

    Robots that looks sleek and can dance and flip are fun to watch, but how safe are the audiences? Safe designs would consider everything from reducing cavities where fingers could get caught, to waterproofing internal components.

    Protective barriers or exoskeletons could further reduce unintended contact, while cushioning mechanisms could reduce the effect of an impact.

    Robots should be designed to signal their intent through lights, sounds and gestures. For example, they should arguably make a noise when entering a room so as not to surprise anyone.

    Even drones can alert their user if they lose signal or battery and need to return to home, and such mechanisms should also be built into walking robots. There are no legal requirements for any such features at present.

    ‘I am now exiting the room.’
    Simple Line

    It’s not that manufacturers are entirely ignoring these issues for walking robots. Unitree’s quadroped Go2, for instance, blinks and beeps when the battery is low or if it is overheating.

    It also has automatic emergency cut-offs in these situations, although they must be triggered by a remote operator when the robot is in “telemetric mode”. Crucially, however, there are no clear regulations to ensure that all manufacturers meet a certain safety standard.

    3. Train operators

    Clearly there will be dangers with robots using AI features, but remote-operated models could be even more dangerous. Mistakes could result from users’ lack of real-world training and experience in real-life situations.

    There appears to be a major skills gap in operator training, and robotics companies will need to prioritise this to ensure operators can control machines efficiently and safely.

    In addition, humans can have delayed reaction times and limited concentration, so we also need systems that can monitor the attention of robot operators and alert them to prevent accidents. This would be similar to the HGV-driver distraction-detection systems that were installed in vehicles in London in 2024.

    4. Educate the public

    The incident in China has highlighted current misconceptions about humanoid robots as the media is once again blaming AI despite the fact that this was not the issue. This risks causing widespread mistrust and confusion among the public.

    If people understand to what extent walking robots are owner-operated or remote-operated, it will change their expectations about what the robot might do, and make everyone safer as a result.

    Also, understanding the owner’s level of control is vital for managing buyers’ expectations and forewarning them about how much they’ll need to learn about operating and programming a robot before they buy one.

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

    ref. A robot nearly headbutted a festival spectator in China – here are four urgent steps to make the tech safer – https://theconversation.com/a-robot-nearly-headbutted-a-festival-spectator-in-china-here-are-four-urgent-steps-to-make-the-tech-safer-250851

    MIL OSI – Global Reports

  • MIL-OSI Global: Why Freetown’s celebrated tree planting scheme won’t work for other African cities, or the planet

    Source: The Conversation – UK – By Milo Gough, Lecturer in African Studies, University of Oxford

    More than a million trees have been planted in the city of Freetown in Sierra Leone since 2020. This reforestation scheme, known as “FreetownTheTreeTown”, has been celebrated for its innovative approach to climate action, with ambitious plans to plant another 5 million trees by 2030 and 20 million more by 2050.

    A global network of mayors known as the C40 Cities and other urban development experts have called this a “highly replicable” solution for environmental crises across urban Africa.

    Reforestation helps Freetown cope with excess heat, annual seasonal floods, landslides and other environmental problems. Because of its geography, squeezed between wooded mountains and coastline, and widespread poverty, the city is one of the most vulnerable in the world to the effects of the climate change.

    Deforestation of Freetown’s mountains for wood, charcoal and housing space led to a landslide in 2017 that killed 1,100 people and left at least another 3,000 people homeless. FreetownTheTreetown is a response to this disaster.




    Read more:
    Sierra Leone mudslide was a man-made tragedy that could have been prevented


    There are also important historical contexts. I’ve conducted research into the colonial history of Freetown and the changing historical meaning of its trees. From the spiritual meaning of trees in Indigenous west African cultures, through to their use in colonial planning schemes, trees in Freetown have been central to political struggles over the urban landscape.

    Tree planting should not be viewed simply as a generic social good. Trees are embedded in wider structures of power. From colonial-era tree planting, which aimed to reorganise Freetown into a European style city, to the 21st century’s green capitalism – in which tree “tokens” have become commodities for their marketable “carbon offset” – trees are far from apolitical.

    Tree planting projects alone cannot solve environmental problems in African cities. As the world heats up, reliance on fossil fuels must be reduced. Green capitalism’s tree planting schemes won’t cut greenhouse gas emissions at source.

    Climate solutions

    FreetownTheTreeTown is organised through an app, TreeTracker, used by community growers who plant and care for saplings that have been grown in a nursery. They use the app to tag the geographical location of each new tree and track tree growth with photographs.

    The community growers, largely women and young people, receive payments from the city administration once every quarter in the form of tokens that can be exchanged for cash. Thanks to this community, the project has achieved a high tree survival rate of over 80%.

    Inside Freetown’s tree planting scheme.

    Since 2020, this project has received almost US$3 million (£2.4 million), largely from the World Bank and the Global Environmental Facility.

    But the project is supposed to start covering its own costs through selling carbon offset tokens to foreign nations and companies. Buyers will buy these to “cancel out” their own carbon emissions. A polluting airline in the US, for example, could claim it has reduced its greenhouse gas emissions if it buys carbon offset tokens from FreetownTheTreeTown.




    Read more:
    There aren’t enough trees in the world to offset society’s carbon emissions – and there never will be


    Carbon offset schemes have been criticised by academics and journalists for overstating the rate and speed at which they can reduce overall greenhouse gas emissions. They’ve been accused of distracting attention from the necessary and difficult work of transitioning away from polluting energy sources.

    Charcoal is the most important product of the deforestation of Freetown’s mountainous peninsula because the city’s residents use it as cooking fuel. It is, however, highly polluting. People living in informal communities are encouraged to move to cleaner cooking fuels. Some briquettes are even made from human waste. Freetown is genuinely trying to reduce its extremely low carbon emissions.

    Tensions in tree town

    Tension between the conservation and exploitation of Freetown’s mountain forest has existed for centuries. Freetown was established by British colonists in 1792 as a site for the resettlement of formerly enslaved people from across west Africa. Mountain forests were cut down and turned into timber for the board houses of Freetown.

    My research into the late 19th century history of Freetown has revealed that an enormous iroko tree with a trunk circumference of over 15 metres was a place of great spiritual and ritual significance in the area of Brookfields.




    Read more:
    Bringing forests to the city: 10 ways planting trees improves health in urban centres


    Many formerly enslaved people from Yorubaland, in what is today south-western Nigeria, believed iroko trees were inhabited by powerful spirits. Witches were thought to hold meetings around them.

    The Brookfields iroko tree was feared. But it was also respected. Processions of the Bondo, an all-female secret society, visited the tree with offerings, such as corn and pieces of cloth.

    The colonial government planted new trees to demarcate the gridded streetscape of Freetown. But Freetonians did not like the new trees. They suspected them of harbouring mosquitoes and snakes. Twenty years after the first planting, most had been cut down by the city’s residents. The colonial government attempted to overwrite west African understandings of trees by imposing a new order.

    Tree planting schemes must pay close attention to histories of government-led dispossession if they are to successfully transform cities. FreetownTheTreeTown has begun to tackle this history head on by co-creating this reforested city with its communities. This is important work. But, there must be caution about simply transplanting the technical solutions from Freetown to other cities across Africa.


    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.


    Milo Gough has received funding from the Arts and Humanities Research Council through CHASE DTP.

    ref. Why Freetown’s celebrated tree planting scheme won’t work for other African cities, or the planet – https://theconversation.com/why-freetowns-celebrated-tree-planting-scheme-wont-work-for-other-african-cities-or-the-planet-247254

    MIL OSI – Global Reports

  • MIL-OSI Video: Crises beneath the Headlines | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    With international attention focused on two conflicts, in Gaza and Ukraine, other crises of diverse nature, from Sudan to Myanmar and DRC to Venezuela, are creating, instability, disruptions and challenges that the international system is struggling to cope with. In 2025, over 300 million people around the world will need humanitarian assistance and protection.

    This session draws attention to unreported crises and the scale of the response required.

    Speakers: Catherine Russell, Comfort Ero, Ishaan Tharoor, Ricardo Hausmann

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=z9r2fnzEUxM

    MIL OSI Video

  • MIL-OSI: Viridien Announces its Q4 & Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Paris (France), February 27th, 2025, 17h45 CET

    2024: A YEAR OF OVERACHIEVEMENTS

    2025: ON TRACK TO DELIVER c.$100 MILLION NET CASH FLOW

      Q4 FY1
    Revenue2 $339M $ 1,117M (-1%)
    Adjusted EBITDA3 $157M $455M (+14%)
    Net Cash-Flow $27M $56M (+73%)

    Sophie Zurquiyah, Chief Executive Officer of Viridien, said:

    “In 2024, we met our revenue and exceeded our profitability and cash generation targets driven by strong commercial successes at Geoscience, a dynamic performance at Earth Data in both our key basins and prospective regions and the continued focus on operational efficiency at Sensing & Monitoring.

    In 2025, Viridien will continue strengthening its technology leadership in its core markets while further developing its New Businesses. We anticipate continued improvements thanks to Geoscience’s record high backlog, Earth Data’s solid pipeline of projects and the termination of contractual fees for vessel commitments, and Sensing & Monitoring’s progress towards their restructuring plan.

    In this context, we confirm with confidence our target of c.$100 million of net cash generation and balance sheet deleveraging.”

    2024 Highlights2

    • Group2
      • IFRS figures: Revenue, EBITDA and Net Income of respectively $1,211 million, $516 million, $51 million. $427 million, $216 million, $29 million in Q4.
      • Overall stable group revenue at $1,117 million.
      • Strong growth at Digital, Data & Environment (DDE) with $787 million revenue (+17%). Consistent momentum for Geoscience (GEO) driven by our preferred advanced technology and numerous commercial successes at Earth Data (EDA).
        • Sensing & Monitoring (SMO) revenue was $330 million, with no mega crews during the year.
        • 33% revenue growth for New Businesses, exceeding our 30% target.
      • Group adjusted EBITDA3 of $455 million. DDE Adjusted EBITDA of $458 million, up 25% driven by the strong performance of both GEO and EDA. SMO adjusted EBITDA of $35 million (vs $56 million) already reflecting the positive impact of the restructuring effort.
      • Net Cash flow of $56 million, including $(75) million contractual fees from vessel commitments, exceeding our initial Net Cash flow target of “reaching a similar level as 2023” (ie. $32 million).
      • Key milestones of our financial roadmap delivered during the year: improved credit rating in Q2, revolving credit facility extended in Q3 and implementation and increase of the bond buyback program in Q3 and Q4.
      • Net debt at $921 million ($974 million in December 2023) and liquidity at $392 million (including $90 million undrawn RCF).  
    • Digital, Data and Energy Transition (DDE)
      • Revenue at $787 million was up 17% with strong growth at GEO (+20%) and EDA (+14%). Q4 revenue, $238 million (+19%).
      • Adjusted EBITDA at $458 million was up 25%. Profitability impacted by $(54) million in penalty fees from vessel commitments vs $(44) million in 2023. Q4 EBITDA $150 million (+28%).         $(12) million penalty vs $(13) million in Q4 2023.
        • Geoscience:
          • Revenue at $404 million (+20%). $107 million in Q4 (+10%).
          • GEO performance continues to be driven by technology differentiation. Order intakes, +89% in 2024, +155% in Q4, benefited from best-in-class imaging technology which the industry requires to solve subsurface challenges, increased activity in the Middle East and the renewal of long-term contracts for Dedicated HPC Processing Centers (DPCs).
    • New Businesses in GEO confirm the positive market dynamics in Carbon Sequestration with several projects in Norway, US Gulf and in Asia Pacific, as well as in Minerals & Mining with the award of programs in Australia and Oman. Alliance signed with Baker Hughes to offer high-quality and fully integrated Carbon Capture and Sequestration solutions to clients.
    • Earth Data:
      • Revenue at $383 million (+14%). $131 million in Q4 (+27%).
      • Prefunding revenue grew to $205 million (+6%). 81% of Capex. After-Sales grew to $178 million (+25%) in a flat market.
      • $252 million Capex, including the large Laconia Ocean Bottom Nodes (OBN) project in the US Gulf, the North Viking Graben streamer survey in Norway, and numerous global reprocessing projects.
      • New Businesses in EDA completed the mining project in Southeast Arizona and delivered several Carbon Sequestration projects in the North Sea, US Gulf and Asia.
    • Sensing and Monitoring (SMO)
      • Revenue at $330 million was down 27%, following delivery of “mega crew” systems in 2023.        $100 million in Q4 (-16%).
      • Adjusted EBITDA at $35 million was down 37%. $18 million in Q4 (+104%).
      • Q4 EBITDA performance shows that the restructuring plan is on track to achieve expected cost reductions and operational flexibility.
      • New Businesses in SMO represented 17% of revenue and experienced strong momentum with deliveries for the geothermal market and infrastructure monitoring.
    • Market trends
      • E&P Capex environment expected to be stable year-on-year in 2025, as the longer-term energy industry upcycle extends.
      • Evolving Industry Trends:
        • Offshore exploration gaining momentum in key regions like the US Gulf, Brazil, Norway as well as frontiers areas such as the Equatorial Margin and the East Mediterranean Sea.
        • Middle East growth expected with investments in advanced imaging and digital solutions.
        • Demand expected to be strong for High-end geophysical technologies, such as OBN and Full Waveform Inversion (FWI), that mitigate risks and optimize field development.
      • New Businesses:
        • Continued market growth potential in CSS with new imaging contracts and project pipeline driven by most Oil & Gas operators investing to reduce carbon emissions and address societal pressures.
        • Increased interest from the Minerals & Mining sector for subsurface characterization.
        • Infrastructure Monitoring market consistently increasing by double digits annually across various sectors.
        • Digital solutions / HPC markets expanding rapidly fueled mainly by the explosion of AI applications.
    • New reporting KPI for EDA
      • Starting in Q1 2025, we will change the reporting KPIs for EDA:
        • To align with market practice, Revenue split between Prefunding and After-sales will no longer be reported.
    • Cash EBITDA (i.e. EBITDA – Capex) will be reported to provide more clarity on our financial performance. ($97 million and $75 million in 2023 and 2024 respectively, excluding penalty fees from vessel commitments).
    • Full year 2025 financial outlook
      • In 2025, based on a stable E&P Capex environment, performance is expected to be driven by:
        • Geoscience: growth backed by industry leading technology and strong backlog.
    • Earth Data: stronger Cash EBITDA KPI, with end of vessel commitment penalty fees.
      • Sensing & Monitoring: further savings expected from the restructuring plan.
      • New Businesses: growth and first year positive contribution to the group’s profitability.
    • Financial objective: net cash flow of c.$100m.
    • Viridien will continue to focus on cash flow generation and deleveraging. Thanks to 2024 financial performance and the favorable debt market, our bond refinancing could be realized in 2025, before our previous Q1 2026 indication.
    • Full Year 2024 Conference call
      • The press release and the presentation will be available on our website www.viridiengroup.com at 5:45 pm (CET).
      • An English language analysts conference call is scheduled today at 6.00 pm (CET).
      • Participants should register for the call here to receive a dial-in number and code, or participate via the live webcast from here.
      • A replay of the conference call will be made available the day after for a period of 12 months in audio format on the Company’s website.

    The Board of Directors met on February 27, 2025 and approved the consolidated financial statements ending December 31, 2024. The Statutory Auditors are in the process of issuing a report with an unqualified opinion.

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,400 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN ISIN: FR001400PVN6).

    Contact:

     VP Corporate Finance

    Jean-Baptiste Roussille
    jean-baptiste.roussille@viridiengroup.com

    Q4 & FY 2024- Financial Results

    Key Segment P&L figures
    (In million $)
    2023
    Q4
    2024
    Q4
    Var.
    %
    2023
    FY
    2024
    FY
    Var.
    %
     
     
    Exchange rate euro/dollar 1,07 1,09 2% 1,08 1,09 1%  
    Segment revenue 320 339 6% 1 125 1 117 (1%)  
    DDE 201 238 19% 672 787 17%  
    Geoscience 98 107 10% 335 404 20%  
    Earth Data 103 131 27% 337 383 14%  
    Prefunding 62 49 (20%) 194 205 6%  
    After-Sales & other 41 82 99% 143 178 25%  
    SMO 119 100 (16%) 453 330 (27%)  
    Land 42 55 32% 176 157 (10%)  
    Marine 66 29 (56%) 230 117 (49%)  
    Beyond the core 11 16 45% 48 56 17%  
    Segment EBITDA 122 128 5% 400 422 5%  
    Adjusted * Segment EBITDA 121 157 30% 400 455 14%  
    DDE 117 150 28% 367 458 25%  
    SMO 9 18 56 35 (37%)  
    Corporate and other (5) (11) (24) (38) (59%)  
    Segment operating income 15 33 138 113 (18%)  
    Adjusted* Segment Opinc 14 89 138 173 25%  
    DDE 21 89 140 206 47%  
    SMO (1) 11   24 4 (83%)  
    Corporate and other (6) (11) (26) (38) (44%)  
    *Adjusted for non-recurring charges and gains.              
    Other KPI
    (In million $)
    2023
    Q4
    2024
    Q4
    Var.
    %
    2023
    FY
    2024
    FY
    Var.
    %
     
     
    Geoscience Backlog 184 351 90% 184 351 90%  
    Total Capex (42) (81) (92)% (232) (285) (23)%  
    Industrial capex (8) (4) 51% (44) (17) 61%  
    R&D capex (4) (5) (5)% (17) (16) 7%  
    Earth Data (Cash) (29) (72) (171) (252) (47)%  
    Earth Data Cash predunding rate 210% 68%   113% 81%    
    EDA Library net book value* 458 456 (0)% 458 456 (0)%  
    Liquidity 422 392   422 392    
    o.w. undrawn RCF 95 90   95 90    
    Gross debt* (1 301) (1 223)   (1 301) (1 223)    
    o.w. accrued interests (20) (18)   (19) (18)    
    o.w. lease liabilities (103) (125)   (103) (125)    
    Net debt* 974 921   974 921    
    Net debt*/Segment adjusted EBITDA        x2.4 x2.0    
    *Post IFRS15/16              
    Consolidated IFRS Income Statements
    (In million $)
    2023
    Q4
    2024
    Q4
    Var.
    %
    2023
    FY
    2024
    FY
    Var.
    %
     
     
    Exchange rate euro/dollar 1,07 1,09   1,08 1,09    
    Revenue 265 427 61% 1 076 1 211 13%  
    EBITDA 68 216 351 516 47%  
    Operating Income (11) 49 119 143 21%  
    Equity from Investment (3) (1) 47% (2) (0) 77%  
    Net cost of financial debt (20) (24) (20%) (95) (97) (2%)  
       Other financial income (loss) (2) 5 (4) 4  
       Income taxes 11 1 (94%) (14) (13) 3%  
    Net Income / Loss from continuing operations (25) 29 4 36  
    from discontinued operations 10 0 (100%) 12 15 20%  
    Net income / (loss) (15) 29 16 51  
    Shareholder’s net income / (loss) (15) 29 13 50  
    Basic Earnings per share in $ 0,00 0,00   1,81 6,97    
    Diluted Earnings per share in € 0 0,00   1,80 6,93    
    Cash Flow items
    (In million $)
    2023
    Q4
    2024
    Q4
    Var.
    %
    2023
    FY
    2024
    FY
    Var.
    %
     
     
    Segment EBITDA 122 128 5% 400 422 5%  
    Income Tax Paid 9 (2) 6 (12)  
    Change in Working Capital & Provisions 21 30 42% 3 48  
    Other Cash Items 1 (0) 1 (1)  
    Cash provided by Operating Activity 153 155 1% 410 457 11%  
    Earth Data Capex (29) (72) (171) (252) (47%)  
    Industrial Capex & Dev. Costs (13) (9) 32% (61) (33) 46%  
    Acquisitions and Proceeds of Assets 5 6 24% 3 7  
    Cash from Investing Activity (37) (75) (229) (278) -22%  
    Paid Cost of Debt (44) (43) 2% (91) (86) 6%  
    Lease Repayement (19) (12) 36% (57) (56) 2%  
    Asset Financing 1 (0) 22 (1)  
    Cash from Financing Activity (63) (56) 11% (126) (142) -13%  
    Discontinued Operations Acquisitions (6) 3 (23) 19  
    Net Cash Flow 48 27 -43% 32 56 73%  
    Financing cash flow (2) (49)   (6) (69)    
    Forex and other 7 (12)   3 (11)    
    Net increase/(decrease) in cash 52 (34)   29 (25)    

     CONSOLIDATED FINANCIAL STATEMENTS – December 31st, 2024

    6.1 2023-2024 Viridien consolidated financial statements

    6.1.1 CONSOLIDATED STATEMENT OF OPERATIONS

    In millions of US$ Notes December 31
    (1)        2024 2023
    Operating revenues 18, 19 1,211.3 1,075.5
    Other income from ordinary activities   0.1 0.3
    Total income from ordinary activities   1,211.4 1,075.8
    Cost of operations   (871.2) (817.4)
    Gross profit   340.2 258.4
    Research and development expenses – net 20 (17.8) (26.1)
    Marketing and selling expenses   (37.1) (36.1)
    General and administrative expenses   (82.9) (75.8)
    Other revenues (expenses) – net 21 (58.9) (1.4)
    Operating income 19 143.5 119.0
    Cost of financial debt – gross   (109.4) (103.3)
    Income from cash and cash equivalents   12.3 8.0
    Cost of financial debt – net 22 (97.2) (95.3)
    Other financial income (loss) 23 3.7 (3.8)
    Income (loss) before income taxes and share of income (loss) from companies accounted for under the equity method   50.1 19.9
    Income taxes 24 (13.4) (14.0)
    Net income (loss) before share of net income (loss) from companies accounted for under the equity method   36.6 5.9
    Net income (loss) from companies accounted for under the equity method 8 (0.5) (2.0)
    Net income (loss) from continuing operations   36.1 3.9
    Net income (loss) from discontinued operations 5 14.7 12.3
    Consolidated net income (loss)   50.8 16.2
    Attributable to:      
    Owners of Viridien S.A   49.8 12.9
    Non-controlling interests   1.0 3.3
    Weighted average number of shares outstanding (a) 29 7,150,958 7,131,286
    Weighted average number of shares outstanding adjusted for dilutive potential ordinary shares (a) 29 7,184,713 7,171,894
    Net income (loss) per share (in US$)      
    (1)        – Base (a)   6.97 1.81
    (2)        – Diluted (a)   6.93 1.80
    Net income (loss) from continuing operations per share (in US$)      
    (3)        – Base (a) $ 4.91 0.08
    (4)        – Diluted (a) $ 4.89 0.08
    Net income (loss) from discontinued operations per share (in US$)      
    (5)        – Base (a) $ 2.06 1.72
    (6)        – Diluted (a) $ 2.05 1.72

    (a) As a result of the July 31, 2024 reverse share split, the calculation of basic and diluted earnings per shares for 2023 has been adjusted retrospectively. Number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares.

    The accompanying notes are an integral part of the consolidated financial statements.

    Consolidated statement of comprehensive income (loss)

    In millions of US$ December 31
    (2)        2024 (a) 2023 (a)
    Net income (loss) from consolidated statement of operations 50.8 16.2
    Other comprehensive income to be reclassified in profit (loss) in subsequent period:    
    Net gain (loss) on cash flow hedges 0.4 2.0
    Variation in translation adjustments (23.0) 14.2
    Net other comprehensive income to be reclassified in profit (loss) in subsequent period (1) (22.7) 16.2
    Other comprehensive income not to be classified in profit (loss) in subsequent period:    
    Net gain (loss) on actuarial changes on pension plan 3.6 (4.6)
    Net other comprehensive income not to be reclassified in profit (loss) in subsequent period (2) 3.6 (4.6)
    Total other comprehensive income (loss) for the period, net of taxes (1)+(2) (19.1) 11.6
    Total comprehensive income (loss) for the period 31.8 27.8
    Attributable to:    
    Owners of Viridien S.A 31.3 25.1
    Non-controlling interests 0.5 2.7
    (a) Including other comprehensive income related to discontinued operations which is not material.

    The accompanying notes are an integral part of the consolidated financial statements.

    6.1.2 CONSOLIDATED STATEMENT OF FINANCIAL POSITION

    In millions of US$ Notes (3)        Dec 31, 2024 Dec 31, 2023
    ASSETS      
    Cash and cash equivalents 28 301.7 327.0
    Trade accounts and notes receivable, net 3, 18 339.9 310.9
    Inventories and work-in-progress, net 4 163.3 212.9
    Income tax assets 24 22.9 30.8
    Other current assets, net 4 74.0 92.1
    Assets held for sale, net 5 24.5
    Total current assets   926.2 973.7
    Deferred tax assets 24 43.6 29.9
    Other non-current assets, net 16 8.9 6.8
    Investments and other financial assets, net 7 25.7 22.7
    Investments in companies accounted for under the equity method 8 1.1 2.2
    Property plant & equipment, net 9 220.6 206.1
    Intangible assets, net 10 535.4 579.7
    Goodwill, net 11 1,082.8 1,095.5
    Total non-current assets   1,918.1 1,942.9
    TOTAL ASSETS   2,844.3 2,916.6
    LIABILITIES AND EQUITY      
    Financial debt – current portion 13 56.9 58.0
    Trade accounts and notes payable 3 120.9 86.4
    Accrued payroll costs   84.5 89.1
    Income taxes payable 24 20.4 12.5
    Advance billings to customers   19.2 24.0
    Provisions – current portion 16 19.7 8.7
    Other current financial liabilities 14 0.5 21.3
    Other current liabilities 12 182.5 250.3
    Liabilities associated with non-current assets held for sale 5 2.4
    Total current liabilities   507.0 550.3
    Deferred tax liabilities 24 18.4 24.3
    Provisions – non-current portion 16 28.8 30.1
    Financial debt – non-current portion 13 1,165.6 1,242.8
    Other non-current financial liabilities 14 0.5
    Other non-current liabilities 12 1.7 4.3
    Total non-current liabilities   1,214.5 1,302.0
    Common stock (a) 15 8.7 8.7
    Additional paid-in capital   118.7 118.7
    Retained earnings   1,036.5 980.4
    Other Reserves   55.2 27.3
    Treasury shares   (20.1) (20.1)
    Cumulative income and expense recognized directly in equity   (1.1) (1.4)
    Cumulative translation adjustments   (113.3) (90.8)
    Equity attributable to owners of Viridien S.A.   1,084.7 1,022.8
    Non-controlling interests   38.1 41.5
    Total Equity   1,122.8 1,064.3
    TOTAL LIABILITIES AND EQUITY   2,844.3 2,916.6
    (a) Common stock: 11,215,501 shares authorized and 7,165,465 shares with a nominal value of €1.00 outstanding at December 31, 2024.

    The accompanying notes are an integral part of the consolidated financial statements.

    6.1.3 CONSOLIDATED STATEMENT OF CASH FLOWS

    In millions of US$ Notes December 31
    (4)        2024 2023
    OPERATING ACTIVITIES      
    Consolidated net income (loss) 1, 19 50.8 16.2
    Less: Net income (loss) from discontinued operations 5 (14.7) (12.3)
    Net income (loss) from continuing operations   36.1 3.9
    Depreciation, amortization and impairment 1, 19, 28 124.7 91.5
    Impairment and amortization of Earth Data surveys 1, 10, 28 261.4 153.1
    Amortization and depreciation of Earth Data surveys, capitalized 10 (16.6) (15.4)
    Variance on provisions   14.3 (2.6)
    Share-based compensation expenses   3.4 2.8
    Net (gain) loss on disposal of fixed and financial assets   (3.7) (1.7)
    Share of (income) loss in companies recognized under equity method   0.5 2.0
    Other non-cash items   (0.3) 5.2
    Net cash flow including net cost of financial debt and income tax   419.8 238.8
    Less: Cost of financial debt   97.2 95.3
    Less: Income tax expense (gain)   13.4 14.0
    Net cash flow excluding net cost of financial debt and income tax   530.4 348.1
    Income tax paid – Net (a)   (12.4) 5.5
    Net cash flow before changes in working capital   518.0 353.6
    Changes in working capital   (61.2) 54.7
    – Change in trade accounts and notes receivable   (128.4) 51.8
    – Change in inventories and work-in-progress   28.1 49.2
    – Change in other current assets   10.5 (9.9)
    – Change in trade accounts and notes payable   26.8 (5.4)
    – Change in other current liabilities   1.8 (31.0)
    Net cash flow from operating activities   456.7 408.3
    INVESTING ACTIVITIES      
    Total capital expenditures (tangible and intangible assets) net of variation of fixed assets suppliers and excluding Earth Data surveys) 9 (32.9) (60.9)
    Investments in Earth Data surveys 10 (252.1) (171.1)
    Proceeds from disposals of tangible and intangible assets 28 6.8 0.4
    Proceeds from divestment of activities and sale of financial assets 28 6.2
    Dividends received from investments in companies under the equity method   0.5
    Acquisition of investments, net of cash & cash equivalents acquired 28 (1.9)
    Variation in other non-current financial assets 28 (8.2) (5.2)
    Net cash-flow used in investing activities   (286.0) (232.5)
    FINANCING ACTIVITIES      
    Repayment of long-term debt 13, 28 (59.4) (1.8)
    Total issuance of long-term debt 13, 28 0.1 23.9
    Lease repayments 13, 28 (55.7) (57.0)
    Financial expenses paid 13, 28 (85.6) (90.7)
    Net proceeds from capital increase:      
    – from shareholders:   0.1
    – from non-controlling interests of integrated companies  
    Dividends paid and share capital reimbursements:  
    – Equity attributable to owners of Viridien S.A.  
    – to non-controlling interests of integrated companies   (3.8) (0.9)
    Net cash-flow from (used in) financing activities   (204.4) (126.4)
    Effect of exchange rate changes on cash   (11.0) 2.6
    Net cash flows incurred by discontinued operations 5 19.3 (23.0)
    Net increase (decrease) in cash and cash equivalents   (25.3) 29.0
    Cash and cash equivalents at beginning of year   327.0 298.0
    Cash and cash equivalents at end of period   301.7 327.0
    (a) Includes a cash inflow of US$6 million in 2024 and US$32 million in 2023 for the research tax credit in France.

    The accompanying notes are an integral part of the consolidated financial statements.

    6.1.4 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

    In millions of US$, except for share data Number of shares issued (a) Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumu-lative translation adjust-ment Viridien S.A. – Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2023 7,123,573 8.7 118.6 967.9 50.0 (20.1) (3.4) (102.4) 1,019.3 39.5 1,058.8
    Net gain (loss) on actuarial changes on pension plan (1)       (4.6)         (4.6)   (4.6)
    Net gain (loss) on cash flow hedges (2)             2.0   2.0   2.0
    Net gain (loss) on translation adjustments (3)               14.8 14.8 (0.6) 14.2
    Other comprehensive income (1)+(2)+(3)   (4.6) 2.0 14.8 12.2 (0.6) 11.6
    Net income (loss) (4)       12.9         12.9 3.3 16.2
    Comprehensive income (1)+(2)+(3)+(4)   8.3 2.0 14.8 25.1 2.7 27.8
    Exercise of warrants 238   0.1           0.1   0.1
    Dividends                 (1.0) (1.0)
    Cost of share based payment 12,951     2.6         2.6   2.6
    Transfer to retained earnings of the parent company                  
    Variation in translation adjustments generated by the parent company         (22.7)       (22.7)   (22.7)
    Changes in consolidation scope and other       1.6       (3.2) (1.6) 0.3 (1.3)
    Balance at December 31, 2023 7,136,763 8.7 118.7 980.4 27.3 (20.1) (1.4) (90.8) 1,022.8 41.5 1,064.3

    (a) Pro forma following Reverse Share Split (see note 2 – Significant events, acquisitions and divestitures).

    In millions of US$, except for share data Number of shares issued (b) Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumu-lative translation adjust-ment Viridien S.A. – Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2024 7,136,763 8.7 118.7 980.4 27.3 (20.1) (1.4) (90.8) 1,022.8 41.5 1,064.3
    Net gain (loss) on actuarial changes on pension plan (1)       3.6         3.6   3.6
    Net gain (loss) on cash flow hedges (2)             0.4   0.4   0.4
    Net gain (loss) on translation adjustments (3)               (22.5) (22.5) (0.6) (23.0)
    Other comprehensive income (1)+(2)+(3)   3.6 0.4 (22.5) (18.5) (0.6) (19.1)
    Net income (loss) (4)       49.8         49.8 1.0 50.8
    Comprehensive income (1)+(2)+(3)+(4)   53.4 0.4 (22.5) 31.3 0.5 31.8
    Exercise of warrants                      
    Dividends                 (3.8) (3.8)
    Cost of share based payment 24,703     2.7         2.7   2.7
    Transfer to retained earnings of the parent company                  
    Variation in translation adjustments generated by the parent company         28.0       28.0   28.0
    Changes in consolidation scope and other                      
    Balance at December 31, 2024 7,161,465 8.7 118.7 1,036.5 55.2 (20.1) (1.1) (113.3) 1,084.7 38.1 1,122.8

    (b) Reverse Share Split: Pursuant to a delegation from the Combined General Meeting of shareholders of May 15, 2024, and a sub-delegation from the Board of Directors held on the same day, a reversed share split has been implemented, on July 31, 2024, on the basis of 1 new share of €1.00 nominal value for 100 old shares of €0.01 nominal value.

    The accompanying notes are an integral part of the consolidated financial statements.


    1All variations refer to the same period last year
    2Unless otherwise stated, all figures and comments are referring to “Segment” (i.e. pre-IFRS 15), as defined in the 2023 and 2024 Universal Registration Documents’ glossaries, under section 8.7
    3Adjusted for non-recurring items

    Attachment

    The MIL Network