Category: Business

  • MIL-OSI USA: ALLEGHENY COUNTY – Governor Shapiro and Lt. Governor Davis Host Roundtable Highlighting Proposed Investments in Child Care

    Source: US State of Pennsylvania

    February 18, 2025Pittsburgh, PA

    ADVISORY – ALLEGHENY COUNTY – Governor Shapiro and Lt. Governor Davis Host Roundtable Highlighting Proposed Investments in Child Care

    Governor Josh Shapiro and Lt. Governor Austin Davis will host a roundtable at the YMCA Child Development Center at Duquesne University to talk about the Governor’s emphasis in his 2025-26 Budget Proposal on the child care workforce and his work to make child care more affordable.

    During his first two years in office, Governor Shapiro signed into law a historic expansion of the Child and Dependent Care Enhancement Tax Credit and created a new tax credit for businesses who want to contribute to their employees’ child care costs. Those two initiatives helped make child care more affordable – and the Governor’s proposal this year would make child care more available through an investment of $55 million to support child care workforce recruitment and retention grants.

    WHO:
    Governor Josh Shapiro
    Lt. Governor Austin Davis
    Second Lady Blayre Holmes Davis
    Amy Kienle, President/CEO of YMCA of Greater Pittsburgh
    Robert Cherry, CEO of Partner4Work
    Child care workers

    WHEN:
    Tuesday, February 18, 2025 at 1:45PM

    WHERE:
    YMCA Child Development Center at Duquesne University
    112 Washington Place,
    Pittsburgh, PA 15219

    LIVE STREAM:
    pacast.com/live/gov
    governor.pa.gov/live/

    RSVP:
    Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

    MIL OSI USA News

  • MIL-OSI New Zealand: Fonterra announces new incentives for farmers to reduce emissions

    Source: Fonterra

    Fonterra has today announced new funding designed to build a stronger Co-operative and continue to grow value for its shareholders through helping farmers reduce on-farm emissions.  

    For the 2025/26 season beginning on 1 June, Fonterra will introduce a payment for farms that achieve certain emissions-related criteria as part of updates to its Co-operative Difference framework.

    Meanwhile, new incentives that benefit farmers will be funded through separate agreements with Mars and Nestlé, who have been working with Fonterra to make progress towards their individual sustainability goals by supporting farmers to reduce emissions. 

    Fonterra CEO Miles Hurrell says the new incentives demonstrate Fonterra’s strategy in action.  

    “We’re growing relationships with customers who value the hard work farmers put into producing sustainable, high-quality milk, along with the Co-op’s quality of on-farm data and ongoing commitment to improvement. This helps us make progress towards achieving our on-farm emissions target and deliver the highest returns for our farmer shareholders’ milk.    

    “Last year we confirmed six strategic choices that we believe will help grow further value in the years ahead and this is an example of how we’re delivering on two of those choices, deliver the strongest farmer offering and build on our sustainability position,” says Mr Hurrell.

    The new funding, includes:  

    New Co-operative Difference payment

    1-5 cent per kgMS payment: To date, a total of up to 10 cents per kilogram of milk solids (kgMS) has been possible across all achievements within Fonterra’s Co-operative Difference framework. A new Emissions Excellence achievement will offer a further payment of between 1-5 cents per kgMS for farms that meet certain criteria*. Based on last season’s data, it’s estimated that approximately 5,000 farms will be eligible for this payment next season.

    New customer incentives

    Funding from separate agreements with Mars and Nestlé, will be split between:  

    On-farm solutions: Farmers who achieve the Co-operative Difference will be eligible for access to on-farm tools or services designed to further improve emissions efficiency, for example herd efficiency services from LIC and CRV. Based on last season’s achievements, 87% of farmers would’ve been eligible.
    Extra 10-25 cents per kgMS Emissions Incentive payment: Farmers who achieve the Co-operative Difference and have one of the lowest emissions footprints in the Co-op** will receive an Emissions Incentive payment of between 10-25 cents per kgMS. Based on last season’s data it’s estimated that between 300-350 farms will be eligible for this payment next season.  

    Mars Snacking Chief R&D, Procurement and Sustainability Officer, Amanda Davies says between new equipment and technology, embracing more sustainable practices comes with a price tag for farmers.  

    “That’s why we’re working with partners like Fonterra to help remove this barrier – providing cash, tools, and technology to support farmers in making meaningful, long-term changes.”  

    Nestlé New Zealand CEO, Jennifer Chappell, says Nestlé globally is a significant purchaser of New Zealand dairy ingredients, and dairy remains its largest source of greenhouse gas emissions.  

    “As we strive towards achieving net zero emissions by 2050, we are committed to reducing our Scope 3 emissions. We will continue to support farmers, in partnership with Fonterra, fostering new economic opportunities and helping them lower their greenhouse gas emissions.”

    Mars and Nestlé have independently supported Fonterra farmers with their sustainability actions through initiatives introduced over the past couple of seasons.  

    In 2024, Fonterra farmers were invited to take part in the Mars Tools and Services pilot, which provided access to tools and services, including animal efficiency services and digital tools. Additionally, Mars previously supported the Greener Choices programme, which made it easier for Fonterra farmers to identify and buy products at Farm Source stores that could help them make sustainability improvements on-farm.

    In 2022, Fonterra and Nestlé announced a partnership that included the Net Zero Pilot Dairy Farm in Taranaki, designed to help reduce on-farm emissions. In 2023, Fonterra announced that Nestlé would make an additional payment of between 1-2 cents per kgMS for farms that achieved any level of the Co-operative Difference. This payment has been replaced with the new Emissions Incentive payment from next season.

    Notes:

    *New Co-operative Difference payment

    To meet the new Emissions Excellence achievement, farmers need to achieve the Co-operative Difference and their emissions from farming activities (like feed, fertiliser and herd) minus any carbon removals (i.e. emissions reductions resulting from the carbon dioxide that is removed from trees and vegetation that is grown on-farm) need to be lower than the Co-op’s 2017/18 baseline year.  

    **Extra 10-25 cents per kgMS Emissions Incentive payment

    To receive the customer-funded Emissions Incentive payment, farmers need to achieve the Co-operative Difference and have one of the lowest emissions footprints in the Co-op (around 30% lower than the average farm). This will take into account not only emissions from farming activities, but also those associated with land use change (e.g. the historical conversion of forests to pasture) and those released from peat soils, before subtracting any carbon removals.

    Fonterra’s Climate Roadmap

    Fonterra has a target of reducing on-farm emissions intensity by 30% by 2030 from a 2018 baseline. The target was announced in 2023 as part of its Climate Roadmap, which outlines the Co-op’s 2030 targets and ambition to be net zero by 2050. This target is critical for a number of reasons. It helps the Co-op to remain competitive and build stronger partnerships with customers as well as be able to secure future funding, meet market access demands and comply with increased legal and reporting obligations, as the Co-op plays its part intaking action on climate change.

    Sustainability at Mars

    As part of Mars’ Net Zero Roadmap, the company has built a plan to halve full value chain emissions by 2030*, enroute to Net Zero by 2050. Mars is already delivering on its promises with 16% absolute reductions in GHG emissions in 2023 against a 2015 baseline, across its full value chain.   

    In 2024, Mars launched its Moo’ving Dairy Forward plan, a $47M 3-year investment in new technologies and partnerships to slash greenhouse gas (GHG) emissions across its global dairy supply chain.  

    *As measured against a 2015 baseline.   

    Sustainability at Nestlé

    Nestlé is striving towards net zero emissions by 2050. In 2020, they published the global Nestlé Net Zero Roadmap and have since transformed their business to start delivering reductions in greenhouse gas emissions across all three Scopes of their activities. By the end of 2025, Nestlé aims to reduce emissions by 20% and by the end of 2030, by 50%.  

    Progress toward net zero will be measured against Nestlé’s 2018 GHG emissions. Targets were set by following the Science Based Targets initiative’s (SBTi) criteria, providing a clear pathway for future-proof growth with reductions in GHG emissions. Nestlé’s Scope 3 emissions make up 95% of their footprint, and they are addressing more than 80% of these. The SBTi approved Nestlé’s targets in November 2020. Read more here: https://www.nestle.com/sustainability

    MIL OSI New Zealand News

  • MIL-OSI: Not Just a DEX: How Pineapple’s Mystery Marketing is Changing the Game

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Feb. 17, 2025 (GLOBE NEWSWIRE) — The DeFi landscape is often loud, with projects shouting for attention through endless partnerships, airdrops, and hype-fueled marketing. But Pineapple has taken a different route: a world of exclusivity, mystery, and storytelling that has captured the curiosity of top traders, influencers, and industry insiders. More than just a decentralized exchange, Pineapple is an immersive experience, one that blends AI-powered engagement with cutting-edge trading tools to redefine what it means to trade in Web3.

    The Secret Club Phenomenon: A Marketing Revolution

    Most crypto projects follow a well-trodden path, airdrops, influencer partnerships, and technical jargon-laden whitepapers. Pineapple has rewritten the playbook. Instead of broadcasting its message loud and clear, it has built an air of exclusivity around a mysterious Telegram group, introducing different characters and narratives that intrigue rather than inform.

    This unconventional approach has already attracted celebrities, KOLs, and influential figures in the space. The project’s ability to create FOMO through secrecy and invitation-only access has made it one of the most anticipated launches in the DeFi space.

    AI-Powered Engagement, Tokenomics & Trading Mechanics

    Pineapple doesn’t just rely on traditional marketing techniques, it is pioneering AI-driven engagement. The project plans to integrate AI agents that seamlessly blend with its narrative, interacting autonomously on social platforms like X (formerly Twitter) in character. These AI-driven personalities will enhance community engagement, providing insights, entertainment, and a unique touch that no other project has explored.

    Beyond its unique marketing, Pineapple is a powerful, cross-chain trading hub designed to make DeFi more seamless and intuitive. The platform offers:

    • Ultimate Cross-Chain Swaps across 20+ chains and 1,000+ liquidity pools.
    • EVM to Non-EVM Swaps breaking blockchain barriers.
    • Multi-Chain Bridge streamlining asset transfers.
    • AI-Powered Token Insights & Trader Profiles for deep market analytics.
    • Advanced Trading Tools including real-time charts, sniper bots, and optimized gas fees.
    • Fiat On/Off Ramps & a VIP Card for easy access to DeFi.
    • Exclusive NFTs with Real Utility offering revenue-sharing benefits and perks.

    100% Fair Launch: A True Open Market

    Imagine an exclusive club where the doors are wide open for everyone—no backroom deals, no early insider allocations. That’s exactly how Pineapple has structured its token launch. The entire supply of $PAPPLE has been placed directly into the liquidity pool, ensuring fairness and transparency. No presales, no hidden allocations—just an open playing field for all participants.

    To maintain sustainability and reward dedicated members, Pineapple has implemented:

    • 5% Tax on All Buys & Sells: A small contribution ensuring long-term ecosystem growth.
    • Early Unstaking Penalty: Those who stake and withdraw early face a penalty that decreases over time, rewarding patient participants.

    Such mechanisms ensure that Pineapple remains robust, rewarding those who commit long-term rather than short-term speculators.

    The Team Behind Pineapple

    Pineapple isn’t just a product of innovation, it’s the creation of some of the most brilliant minds. Pineapple is built by a team of seasoned professionals from blockchain, finance, art, and marketing, with experience at leading global brands like Coinbase, VeChain, Polygon,Amazon, Disney, Sony, Under Armour, Nike, Bentley, The Royal Mint, UFC Fight Pass, ATARI, Bittrex Global, NEO, Master Ventures, Marvel, MV Global, X Money, Paribus, Orion Protocol,, LTO Network, Dolce & Gabbana, Coca Cola, Goblintown and many more.

    With a track record of driving success in both Web2 and Web3, they bring the expertise needed to reshape DeFi trading and engagement.

    The Road Ahead

    Pineapple is just getting started. With upcoming developments like lightning-fast trading tools, deeper AI integrations, and the expansion of Pineapple Academy, the project is setting the stage for a more immersive DeFi experience. Every feature and every innovation is a deliberate step toward building a truly unique ecosystem where trading meets storytelling, and engagement feels organic rather than forced.

    Ali, CEO of Pineapple, shared his vision, “We wanted to break away from the noise of traditional DeFi marketing and build something truly immersive, where trading meets storytelling, and technology enhances engagement like never before.”

    About Pineapple

    Pineapple is a next-generation decentralized exchange designed to revolutionize DeFi trading and engagement. By combining AI-driven community interaction, cutting-edge trading tools, and a unique narrative-driven marketing approach, Pineapple is setting a new standard in the crypto industry.

    For more information, visit https://pineappledex.com or follow Pineapple on Twitter and Telegram.

    Contact:
    Pete Harrison
    pete@pineappledex.com

    Disclaimer: This content is provided by Pineapple DEX. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. 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 as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities .Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/02fa7f81-88c3-46c7-b859-1bc039d884f7

    The MIL Network

  • MIL-OSI Economics: Samsung Electronics Marks 19 Consecutive Years as the Global TV Market Leader

    Source: Samsung

    Samsung Electronics today announced that it has secured its position as the global leader in the TV market for the 19th consecutive year.
     
    According to market research firm Omdia, Samsung achieved a 28.3% market share in the global TV market in 2024, maintaining the number one ranking it has held since 2006. This continued success is driven by the company’s commitment to premium and ultra-large screen innovation, as well as the introduction of cutting-edge, AI-powered TVs.
     
    “Samsung’s 19-year reign as the global TV market leader has been made possible by the trust and support of our customers,” said Hun Lee, Executive Vice President of Visual Display Business at Samsung Electronics. “We will continue to shape the future of the TV industry with innovations like AI-powered TVs, delivering products and services that meaningfully enrich people’s lives.”
     
    ▲ Samsung Electronics secured its position as the global leader in the TV market for the 19th consecutive year (Source: Omdia , Feb-2024. Results are not an endorsement of Samsung)
     
     
    Dominance in the Premium and Ultra-Large TV Segments
    Samsung solidified its leadership in the high-end TV market, particularly in the premium ($2,500+) and ultra-large (75-inch and above) segments:
     
    Premium ($2,500+) TVs – Samsung captured a 49.6% market share, accounting for nearly half of the global premium TV market.
    75-inch and above – Samsung led the ultra-large category with a 28.7% market share.
     
     
    QLED and OLED TV Success
    Samsung also maintained its leadership in the QLED and OLED segments, reinforcing its dominance in the premium TV industry:
     
    QLED TVs – With 8.34 million units sold, Samsung commanded a 46.8% market share, further strengthening its leadership in this category. The global QLED market also saw significant growth, surpassing 10% of total TV sales for the first time.
    OLED TVs – Samsung’s OLED sales reached 1.44 million units in 2024, securing a 27.3% market share. This marks a year-over-year (YoY) increase of 42% and 4.6% in unit sales and market share, respectively, reflecting strong consumer demand for Samsung’s OLED innovations.
     
     
    Transforming Home Entertainment With AI and Art
    At CES 2025, Samsung unveiled Vision AI, a breakthrough in AI-powered screens that extends beyond traditional entertainment. By analyzing user preferences, intent and habits, Vision AI delivers a seamlessly personalized viewing experience that shapes the future of smart home displays.
     
    Samsung is also expanding its Samsung Art Store — originally available exclusively on The Frame — to Neo QLED and QLED models this year, providing more consumers with access to a personalized digital art experience.

    MIL OSI Economics

  • MIL-Evening Report: AFL and NRL pre-seasons are among the longest in world sport – here’s why

    Source: The Conversation (Au and NZ) – By Joel Garrett, Lecturer in Exercise Science and Physiology, Griffith University

    Australia’s love affair with the major football codes – the Australian Football League (AFL) and National Rugby League (NRL) – is well documented. However, one aspect that stands out to many observers, particularly those overseas, is the length of these leagues’ pre-seasons.

    While global and international sports such as soccer and the United States’ National Football League (NFL) typically have pre-seasons lasting only a few weeks to two months, AFL and NRL pre-seasons can stretch well beyond that, sometimes up to and even surpassing four months.

    Why do these two codes, more than almost any others, devote such an extended block of time to pre-season training?

    The answer lies in a blend of the diverse physical qualities required to play AFL and NRL and the greater risk of injury associated with short preparation times.

    High-impact collisions and diverse physical demands

    Both the AFL and NRL are considered contact team sports. Athletes are required to cover large distances at speed, with frequent contact.

    AFL players can run upwards of 12–17 kilometres per match, at incredibly high intensities, all while executing numerous technical actions, such as kicking, catching, handballing and tackling.

    NRL players face similar challenges. Athletes are required to perform more than 30 high-impact collisions per game combined with repeated bouts of high-intensity activity, such as running and sprinting.

    This blend of endurance, strength and power, combined with the high contact demands, creates a distinct training challenge.

    Off-season programs must therefore develop multiple physical qualities. These include endurance for sustained high-intensity efforts, speed and agility for generating and closing space, and strength and power for tackling, wrestling and contested ball situations.

    A shorter pre-season can limit the time available to improve each of these qualities safely. This in turn increases the likelihood of in-season injuries and reduced performance overall.

    NRL athletes endure some brutal training sessions to prepare for each season.

    Longer pre-seasons and injury prevention

    From a sports science perspective, a key benefit of extended pre-seasons is the gradual increase in training load. This helps reduce injury risk once the season begins.

    Research has shown the importance of progressive overload (gradually increasing training demands in a safe, structured manner), recovery management, and adequate conditioning to tolerate in-season demands.

    Evidence also shows increased pre-season participation, additional pre-season sessions and higher workloads (such as total distance) result in fewer games missed due to injury within the season.

    These findings underscore that a carefully structured, longer preparation phase, even if it appears arduous, can build resilience.

    By gradually but systematically exposing players to both low- and high-intensity running volumes, physical contact, and skill-based sessions, clubs can equip their athletes’ bodies to withstand the onerous demands of an AFL or NRL season.

    What do other codes do?

    European football (soccer) clubs often have limited downtime between league seasons and international fixtures.

    Pre-season often entails high-profile international exhibition tours, leaving little space for the months-long conditioning programs common in AFL and NRL.

    Moreover, the absence of a draft system can mean injured players are simply replaced via the transfer market. This reduces the incentive for longer pre-season conditioning to keep key athletes healthy.

    The NFL’s pre-season is relatively short. It uses a training camp model that includes a few pre-season games in which their “starters” play a limited role due to injury concerns.

    The sport’s stop-start nature and its athletes’ highly specialised positional requirements also results in players having a more specific physical profile. In contrast, AFL and NRL players require a broader physical profile.

    In recent years, the NFL has become increasingly aware of higher injury rates tied to abrupt increases in training load. It is now exploring extended or restructured pre-season protocols that in part aim to reduce injury risk.

    Changes may be afoot

    Interestingly, the AFL itself may face a similar scenario this year.

    In the most recent off-season, many AFL clubs had only two to three weeks of full-squad structured training before Christmas, followed by three weeks off.

    This approach, designed to provide player downtime, might inadvertently produce an effect akin to what the NFL experiences, where shorter preparation periods are linked to higher rates of tendon and soft-tissue injuries.

    Sports scientists at Australian clubs will be monitoring training loads closely when their players return, aiming to avoid the pitfalls of quick turnarounds meeting high-impact competition.

    There’s a reason for these long pre-seasons

    Devoting three to four months to pre-season training is not merely a quirk of the Australian sporting calendar.

    It is a necessary response to the extreme physical demands of these codes. More importantly, a longer, carefully managed pre-season significantly lowers in-season injury risks.

    Clubs need to strike a balance between giving players sufficient rest and allowing enough time for a measured and carefully planned off-season. This not only enhances performance, but reduces injuries.

    Given the evidence, it is little wonder that Australian codes invest so heavily in this crucial preparation phase.

    Darren Burgess, General Manager of High Performance at Adelaide Football Club, contributed to this article.

    Joel Garrett 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. AFL and NRL pre-seasons are among the longest in world sport – here’s why – https://theconversation.com/afl-and-nrl-pre-seasons-are-among-the-longest-in-world-sport-heres-why-248430

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: Chinese vice premier encourages Japanese companies to invest and develop in China

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

    Chinese vice premier encourages Japanese companies to invest and develop in China

    BEIJING, Feb. 17 — China continues to promote high-level opening-up and encourages Japanese companies to invest and develop in China, Chinese Vice Premier He Lifeng said on Monday.

    He, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a meeting in Beijing with a Japanese business delegation visiting China.

    Noting that China and Japan boast deeply integrated economies and extensive common interests and space for cooperation, He expressed the hope that the Japanese business community would play a positive role in the win-win cooperation between the two countries. He welcomed companies from Japan and other countries to continue to invest in China and share development opportunities.

    Chairman of the Japan Business Federation Masakazu Tokura, Chairman of Japan-China Economic Association Kosei Shindo, and Chairman of the Japan Chamber of Commerce and Industry Ken Kobayashi said that the Japanese business community is willing to continue to expand investment in China and contribute to the mutually beneficial cooperation between the two countries.

    MIL OSI China News

  • MIL-OSI Video: European Commission President Ursula von der LEYEN receives Gen. Keith KELLOGG

    Source: European Commission (video statements)

    President von der Leyen receives Gen. Keith Kellogg, US Special Presidential Envoy for Ukraine and Russia

    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

    Visit our website: http://ec.europa.eu/

    https://www.youtube.com/watch?v=2Bfi4p-tUqg

    MIL OSI Video

  • MIL-OSI: Transocean Ltd. Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

     

      Three months ended         Three months ended      
      December 31,    September 30,      sequential   December 31,       year-over-year
      2024   2024   change   2023   change
    (In millions, except per share amounts, percentages and backlog)                            
    Contract drilling revenues $ 952     $ 948     $ 4     $ 741     $ 211  
    Adjusted contract drilling revenues $ 952     $ 948     $ 4     $ 748     $ 204  
    Revenue efficiency (1)   93.5 %     94.5 %           97.0 %      
    Operating and maintenance expense $ 579     $ 563     $ (16 )   $ 569     $ (10 )
    Net income (loss) attributable to controlling interest $ 7     $ (494 )   $ 501     $ (104 )   $ 111  
    Basic earnings (loss) per share $ 0.01     $ (0.56 )   $ 0.57     $ (0.13 )   $ 0.14  
    Diluted loss per share $ (0.11 )   $ (0.58 )   $ 0.47     $ (0.13 )   $ 0.02  
                                 
    Adjusted EBITDA $ 323     $ 342     $ (19 )   $ 122     $ 201  
    Adjusted EBITDA margin   33.9 %     36.0 %           16.3 %      
    Adjusted net income (loss) $ 27     $ 64     $ (37 )   $ (74 )   $ 101  
    Adjusted diluted earnings (loss) per share $ (0.09 )   $     $ (0.09 )   $ (0.09 )   $  
                                 
                                 
    Backlog as of the February 2025 Fleet Status Report $ 8.3 billion                      
                                 

    STEINHAUSEN, Switzerland, Feb. 17, 2025 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) today reported net income attributable to controlling interest of $7 million, or loss of $0.11 per diluted share, for the three months ended December 31, 2024.

    Fourth quarter results included $20 million, $0.02 per diluted share, discrete tax items, net. After consideration of these unfavorable items, fourth quarter 2024 adjusted net income was $27 million, or loss of $0.09 per diluted share.

    Contract drilling revenues for the three months ended December 31, 2024, increased sequentially by $4 million to $952 million, primarily due to increased utilization for one rig that returned to work after undergoing a special periodic survey in the third quarter and higher reimbursement revenues, partially offset by lower revenue efficiency across the fleet.

    Operating and maintenance expense was $579 million, compared with $563 million in the prior quarter. The sequential increase was the result of higher in-service maintenance costs across our fleet, partially offset by a settlement with insurance carriers.

    General and administrative expense was $56 million, up from $47 million in the third quarter due primarily to increased legal and professional fees.

    Interest expense net of capitalized amounts was $152 million, compared to $154 million in the prior quarter, excluding the favorable adjustment of $61 million and $74 million in the fourth and third quarter, respectively, for the fair value of the bifurcated exchange feature related to the 4.625% exchangeable bonds. Interest income was $10 million, compared to $11 million in the prior quarter.

    The Effective Tax Rate(2) was 89.0%, up from 6.0% in the prior quarter. The increase was primarily due to higher income and increases in valuation allowance. The Effective Tax Rate excluding discrete items was 56.7% compared to 22.5% in the previous quarter.

    Cash provided by operating activities was $206 million during the fourth quarter of 2024, representing an increase of $12 million compared to the prior quarter. The sequential increase was primarily due to timing of interest payments and decreased payments for accounts payable, partially offset by reduced collections from customers.

    Fourth quarter 2024 capital expenditures of $29 million, compared to $58 million in the prior quarter, were related to capital upgrades for certain rigs in our fleet.

    “In 2024, we continued to advance our position as the technological leader in offshore drilling by, among other things, executing the first two 20K subsea completions in the history of the industry,” said Chief Executive Officer Jeremy Thigpen. “We also introduced and implemented other technologies that enhance our operational performances and further differentiate our fleet. This commitment to innovation, along with our reputation for delivering safe, reliable, and efficient operations, is clearly recognized by our customers, as demonstrated by the $2.4 billion in backlog we secured during the year.”

    Thigpen continued, “With industry-leading contract coverage well into 2026, our primary objective will be strong operational execution and an intense focus on cost control to ensure we maximize the conversion of our backlog to cash, enabling us to continue de-leveraging our balance sheet.”

    Full Year 2024

    For the year ended December 31, 2024, net loss attributable to controlling interest totaled $512 million, $0.76 per diluted share. Full year results included $458 million, $0.50 per diluted share, net unfavorable items as follows:

    • $755 million, $0.82 per diluted share, loss on impairment of assets; and
    • $5 million, $0.01 per diluted share, loss on impairment of our investments in unconsolidated affiliates; partially offset by,
    • $161 million, $0.18 per diluted share, gain on retirement of debt; and
    • $141 million, $0.15 per diluted share, related to discrete tax items, net.

    After consideration of these net unfavorable items, adjusted net loss for 2024 was $54 million, $0.26 per diluted share.

    Non-GAAP Financial Measures

    We present our operating results in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). We believe certain financial measures, such as Adjusted Contract Drilling Revenues, EBITDA, Adjusted EBITDA and Adjusted Net Income, which are non-GAAP measures, provide users of our financial statements with supplemental information that may be useful in evaluating our operating performance. We believe that such non-GAAP measures, when read in conjunction with our operating results presented under U.S. GAAP, can be used to better assess our performance from period to period and relative to performance of other companies in our industry, without regard to financing methods, historical cost basis or capital structure. Such non-GAAP measures should be considered as a supplement to, and not as a substitute for, financial measures prepared in accordance with U.S. GAAP.

    All non-GAAP measure reconciliations to the most comparative U.S. GAAP measures are displayed in quantitative schedules on the company’s website at: www.deepwater.com.

    About Transocean

    Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services, and operates the highest specification floating offshore drilling fleet in the world.

    Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.

    For more information about Transocean, please visit: www.deepwater.com.

    Conference Call Information

    Transocean will conduct a teleconference starting at 9 a.m. EST, 3 p.m. CET, on Tuesday, February 18, 2025, to discuss the results. To participate, dial +1 785-424-1116 and refer to conference code 540196 approximately 15 minutes prior to the scheduled start time.

    The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. Supplemental materials that may be referenced during the teleconference will be available at: www.deepwater.com, by selecting Investors, Financial Reports.

    A replay of the conference call will be available after 12 p.m. EST, 6 p.m. CET, on Tuesday, February 18, 2025. The replay, which will be archived for approximately 30 days, can be accessed at +1 402-220-1152, passcode 540196. The replay will also be available on the company’s website.

    Forward-Looking Statements

    The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, timing of the company’s newbuild deliveries, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the success of our business following prior acquisitions, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company’s most recent Annual Report on Form 10-K for the year ended December 31, 2023, and in the company’s other filings with the SEC, which are available free of charge on the SEC’s website at: www.sec.gov. Should one or more of these risks or uncertainties materialize (or the other consequences of such a development worsen), or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or expressed or implied by such forward-looking statements. All subsequent written and oral forward-looking statements attributable to the company or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.

    This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.

    Notes

    (1) Revenue efficiency is defined as actual operating revenues, excluding revenues for contract terminations and reimbursements, for the measurement period divided by the maximum revenue calculated for the measurement period, expressed as a percentage. Maximum revenue is defined as the greatest amount of contract drilling revenues the drilling unit could earn for the measurement period, excluding revenues for incentive provisions, reimbursements and contract terminations. See the accompanying schedule entitled “Revenue Efficiency.”
    (2) Effective Tax Rate is defined as income tax expense or benefit divided by income or loss before income taxes. See the accompanying schedule entitled “Supplemental Effective Tax Rate Analysis.”
       

    Analyst Contact:
    Alison Johnson
    +1 713-232-7214

    Media Contact:
    Pam Easton
    +1 713-232-7647

    TRANSOCEAN LTD. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (In millions, except per share data)
    (Unaudited)
                     
      Years ended December 31, 
      2024        2023        2022  
                     
    Contract drilling revenues $ 3,524     $ 2,832     $ 2,575  
                     
    Costs and expenses                
    Operating and maintenance   2,199       1,986       1,679  
    Depreciation and amortization   739       744       735  
    General and administrative   214       187       182  
        3,152       2,917       2,596  
                     
    Loss on impairment of assets   (772 )     (57 )      
    Loss on disposal of assets, net   (17 )     (183 )     (10 )
    Operating loss   (417 )     (325 )     (31 )
                     
    Other income (expense), net                
    Interest income   50       52       27  
    Interest expense, net of amounts capitalized   (362 )     (646 )     (561 )
    Gain (loss) on retirement of debt   161       (31 )     8  
    Other, net   45       9       (5 )
        (106 )     (616 )     (531 )
    Loss before income tax expense (benefit)   (523 )     (941 )     (562 )
    Income tax expense (benefit)   (11 )     13       59  
                     
    Net loss   (512 )     (954 )     (621 )
    Net income attributable to noncontrolling interest                
    Net loss attributable to controlling interest $ (512 )   $ (954 )   $ (621 )
                     
    Loss per share                
    Basic $ (0.60 )   $ (1.24 )   $ (0.89 )
    Diluted $ (0.76 )   $ (1.24 )   $ (0.89 )
                     
    Weighted-average shares outstanding                
    Basic   850       768       699  
    Diluted   925       768       699  
                           
    TRANSOCEAN LTD. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In millions, except share data)
    (Unaudited)
               
      December 31, 
      2024        2023  
    Assets          
    Cash and cash equivalents $ 560     $ 762  
    Accounts receivable, net   564       512  
    Materials and supplies, net   439       426  
    Assets held for sale   343       49  
    Restricted cash and cash equivalents   381       233  
    Other current assets   165       144  
    Total current assets   2,452       2,126  
               
    Property and equipment   22,417       23,875  
    Less accumulated depreciation   (6,586 )     (6,934 )
    Property and equipment, net   15,831       16,941  
    Contract intangible assets         4  
    Deferred tax assets, net   45       44  
    Other assets   1,043       1,139  
    Total assets $ 19,371     $ 20,254  
               
    Liabilities and equity          
    Accounts payable $ 255     $ 323  
    Accrued income taxes   31       23  
    Debt due within one year   686       370  
    Other current liabilities   691       681  
    Total current liabilities   1,663       1,397  
               
    Long-term debt   6,195       7,043  
    Deferred tax liabilities, net   499       540  
    Other long-term liabilities   729       858  
    Total long-term liabilities   7,423       8,441  
               
    Commitments and contingencies          
               
    Shares, $0.10 par value, 1,057,879,029 authorized, 141,262,093 conditionally authorized, 940,828,901 issued          
    and 875,830,772 outstanding at December 31, 2024, and CHF 0.10 par value, 1,021,294,549 authorized,          
    142,362,093 conditionally authorized, 843,715,858 issued and 809,030,846 outstanding at December 31, 2023   87       81  
    Additional paid-in capital   14,880       14,544  
    Accumulated deficit   (4,545 )     (4,033 )
    Accumulated other comprehensive loss   (138 )     (177 )
    Total controlling interest shareholders’ equity   10,284       10,415  
    Noncontrolling interest   1       1  
    Total equity   10,285       10,416  
    Total liabilities and equity $ 19,371     $ 20,254  
    TRANSOCEAN LTD. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In millions)
    (Unaudited)
                     
      Years ended December 31, 
      2024        2023        2022  
                     
    Cash flows from operating activities                
    Net loss $ (512 )   $ (954 )   $ (621 )
    Adjustments to reconcile to net cash provided by operating activities:                
    Amortization of contract intangible asset   4       52       117  
    Depreciation and amortization   739       744       735  
    Share-based compensation expense   47       40       29  
    Loss on impairment of assets   772       57        
    Loss on disposal of assets, net   17       183       10  
    Amortization of debt-related balances, net   53       51       33  
    (Gain) loss on adjustment to bifurcated compound exchange feature   (214 )     127       157  
    (Gain) loss on retirement of debt   (161 )     31       (8 )
    Loss on impairment of investment in unconsolidated affiliates   5       5        
    Deferred income tax expense   (42 )     18       46  
    Other, net   (7 )     43       44  
    Changes in deferred revenues, net   45       70       (20 )
    Changes in deferred costs, net   (2 )     (190 )     1  
    Changes in other operating assets and liabilities, net   (297 )     (113 )     (75 )
    Net cash provided by operating activities   447       164       448  
                     
    Cash flows from investing activities                
    Capital expenditures   (254 )     (427 )     (717 )
    Investment in loans to unconsolidated affiliates   (3 )     (3 )     (5 )
    Investment in equity of unconsolidated affiliates         (10 )     (42 )
    Proceeds from disposal of assets, net of costs to sell   101       10       7  
    Cash acquired in acquisition of unconsolidated affiliates   5       7        
    Net cash used in investing activities   (151 )     (423 )     (757 )
                     
    Cash flows from financing activities                
    Repayments of debt   (2,103 )     (1,717 )     (554 )
    Proceeds from issuance of debt, net of issue costs   1,770       1,983       175  
    Proceeds from issuance of shares, net of issue costs               263  
    Proceeds from issuance of warrants, net of issue costs               12  
    Other, net   (17 )     (3 )     (8 )
    Net cash provided by (used in) financing activities   (350 )     263       (112 )
                     
    Net increase (decrease) in unrestricted and restricted cash and cash equivalents   (54 )     4       (421 )
    Unrestricted and restricted cash and cash equivalents, beginning of period   995       991       1,412  
    Unrestricted and restricted cash and cash equivalents, end of period $ 941     $ 995     $ 991  
                                     
    TRANSOCEAN LTD. AND SUBSIDIARIES
    FLEET OPERATING STATISTICS
     
      Three months ended     Years ended  
      December 31,    September 30,   December 31,      December 31,    December 31,   
    Contract Drilling Revenues (in millions) 2024    2024    2023      2024    2023   
    Ultra-deepwater floaters $ 675   $ 668   $ 536     $ 2,518   $ 2,072  
    Harsh environment floaters   277     280     205       1,006     760  
    Total contract drilling revenues $ 952   $ 948   $ 741     $ 3,524   $ 2,832  
      Three months ended     Years ended  
      December 31,    September 30,   December 31,      December 31,    December 31,   
    Average Daily Revenue (1) 2024    2024    2023      2024    2023   
    Ultra-deepwater floaters $ 428,200   $ 426,700   $ 432,100     $ 428,000   $ 393,700  
    Harsh environment floaters   452,600     464,900     354,700       435,900     354,300  
    Total fleet average daily revenue $ 434,700   $ 436,800   $ 407,800     $ 430,100   $ 382,300  
      Three months ended     Years ended
      December 31,    September 30,   December 31,      December 31,    December 31, 
    Revenue Efficiency (2) 2024   2024   2023     2024    2023
    Ultra-deepwater floaters 92.0 %   92.5 %   96.8 %     93.4 %   96.5 %
    Harsh environment floaters 97.6 %   100.1 %   97.6 %     97.5 %   97.8 %
    Total fleet average revenue efficiency 93.5 %   94.5 %   97.0 %     94.5 %   96.8 %
      Three months ended     Years ended
      December 31,     September 30,    December 31,      December 31,     December 31, 
    Utilization (3) 2024   2024   2023     2024   2023
    Ultra-deepwater floaters 64.3 %   60.7 %   46.8 %     57.3 %   49.4 %
    Harsh environment floaters 75.0 %   75.0 %   66.7 %     71.1 %   59.1 %
    Total fleet average rig utilization 66.8 %   63.9 %   51.6 %     60.5 %   51.9 %
                                   
    (1) Average daily revenue is defined as operating revenues, excluding revenues for contract terminations, reimbursements and contract intangible amortization, earned per operating day. An operating day is defined as a day for which a rig is contracted to earn a dayrate during the firm contract period after operations commence.
                                   
    (2) Revenue efficiency is defined as actual operating revenues, excluding revenues for contract terminations and reimbursements, for the measurement period divided by the maximum revenue calculated for the measurement period, expressed as a percentage. Maximum revenue is defined as the greatest amount of contract drilling revenues the drilling unit could earn for the measurement period, excluding revenues for incentive provisions, reimbursements and contract terminations.
                                   
    (3) Rig utilization is defined as the total number of operating days divided by the total number of rig calendar days in the measurement period, expressed as a percentage.
     
                                             
    TRANSOCEAN LTD. AND SUBSIDIARIES
    NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS
    ADJUSTED NET INCOME (LOSS) AND ADJUSTED DILUTED EARNINGS (LOSS) PER SHARE
    (in millions, except per share data)
                                             
      YTD   QTD   YTD   QTD   YTD   QTD   YTD
      12/31/24   12/31/24   09/30/24   09/30/24   06/30/24   06/30/24    03/31/24
    Adjusted Net Income (Loss)                                        
    Net income (loss) attributable to controlling interest, as reported $ (512 )   $ 7     $ (519 )   $ (494 )   $ (25 )   $ (123 )   $ 98  
    Loss on impairment of assets, net of tax   755             755       617       138       138        
    Loss on impairment of investment in unconsolidated affiliates   5             5             5       4       1  
    Gain on retirement of debt   (161 )           (161 )     (21 )     (140 )     (140 )      
    Discrete tax items   (141 )     20       (161 )     (38 )     (123 )     (2 )     (121 )
    Net income (loss), as adjusted $ (54 )   $ 27     $ (81 )   $ 64     $ (145 )   $ (123 )   $ (22 )
                                             
    Adjusted Diluted Earnings (Loss) Per Share:                                        
    Diluted earnings (loss) per share, as reported $ (0.76 )   $ (0.11 )   $ (0.65 )   $ (0.58 )   $ (0.03 )   $ (0.15 )   $ 0.11  
    Loss on impairment of assets, net of tax   0.82             0.82       0.64       0.17       0.17        
    Loss on impairment of investment in unconsolidated affiliates   0.01             0.01                          
    Gain on retirement of debt   (0.18 )           (0.18 )     (0.02 )     (0.17 )     (0.17 )      
    Discrete tax items   (0.15 )     0.02       (0.18 )     (0.04 )     (0.15 )           (0.14 )
    Diluted earnings (loss) per share, as adjusted $ (0.26 )   $ (0.09 )   $ (0.18 )   $     $ (0.18 )   $ (0.15 )   $ (0.03 )
                                             
      YTD   QTD   YTD   QTD   YTD   QTD   YTD
      12/31/23     12/31/23    09/30/23     09/30/23    06/30/23    06/30/23    03/31/23
    Adjusted Net Loss                                        
    Net loss attributable to controlling interest, as reported $ (954 )   $ (104 )   $ (850 )   $ (220 )   $ (630 )   $ (165 )   $ (465 )
    Loss on impairment of assets   57       (1 )     58       5       53       53        
    Loss on disposal of assets, net   169             169             169             169  
    Loss on impairment of investment in unconsolidated affiliate   5       5                                
    Loss on conversion of debt to equity   27       24       3             3       3        
    (Gain) loss on retirement of debt   31       (1 )     32             32             32  
    Discrete tax items   (74 )     3       (77 )     (65 )     (12 )     (1 )     (11 )
    Net loss, as adjusted $ (739 )   $ (74 )   $ (665 )   $ (280 )   $ (385 )   $ (110 )   $ (275 )
                                             
    Adjusted Diluted Loss Per Share:                                        
    Diluted loss per share, as reported $ (1.24 )   $ (0.13 )   $ (1.13 )   $ (0.28 )   $ (0.85 )   $ (0.22 )   $ (0.64 )
    Loss on impairment of assets   0.07             0.08       0.01       0.07       0.07        
    Loss on disposal of assets, net   0.22             0.23             0.23             0.23  
    Loss on impairment of investment in unconsolidated affiliate   0.01       0.01                                
    Loss on conversion of debt to equity   0.04       0.03                                
    (Gain) loss on retirement of debt   0.04             0.04             0.04             0.04  
    Discrete tax items   (0.10 )           (0.10 )     (0.09 )     (0.01 )           (0.01 )
    Diluted loss per share, as adjusted $ (0.96 )   $ (0.09 )   $ (0.88 )   $ (0.36 )   $ (0.52 )   $ (0.15 )   $ (0.38 )
                                               
    TRANSOCEAN LTD. AND SUBSIDIARIES
    NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS
    ADJUSTED CONTRACT DRILLING REVENUES
    EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION AND RELATED MARGINS
    (in millions, except percentages)
                                               
                                               
        YTD   QTD   YTD   QTD   YTD   QTD   YTD
         12/31/24   12/31/24   09/30/24   09/30/24   06/30/24   06/30/24   03/31/24
                                               
    Contract drilling revenues   $ 3,524     $ 952   $ 2,572     $ 948     $ 1,624     $ 861     $ 763  
    Contract intangible asset amortization     4           4             4             4  
    Adjusted Contract Drilling Revenues   $ 3,528     $ 952   $ 2,576     $ 948     $ 1,628     $ 861     $ 767  
                                               
    Net income (loss)   $ (512 )   $ 7   $ (519 )   $ (494 )   $ (25 )   $ (123 )   $ 98  
    Interest expense, net of interest income     312       81     231       69       162       60       102  
    Income tax expense (benefit)     (11 )     55     (66 )     (31 )     (35 )     156       (191 )
    Depreciation and amortization     739       180     559       190       369       184       185  
    Contract intangible asset amortization     4           4             4             4  
    EBITDA     532       323     209       (266 )     475       277       198  
                                               
    Loss on impairment of assets     772           772       629       143       143        
    Loss on impairment of investment in unconsolidated affiliates     5           5             5       4       1  
    Gain on retirement of debt     (161 )         (161 )     (21 )     (140 )     (140 )      
    Adjusted EBITDA   $ 1,148     $ 323   $ 825     $ 342     $ 483     $ 284     $ 199  
                                               
                                               
    Profit (loss) margin     (14.5 ) %   0.7 %   (20.2 ) %   (52.0 ) %   (1.5 ) %   (14.3 ) %   12.9 %
    EBITDA margin     15.1   %   33.9 %   8.1   %   (28.1 ) %   29.2   %   32.2   %   25.8 %
    Adjusted EBITDA margin     32.5   %   33.9 %   32.0   %   36.0   %   29.7   %   33.0   %   26.0 %
                                             
      YTD   QTD   YTD   QTD   YTD   QTD   YTD
      12/31/23   12/31/23   09/30/23   09/30/23   06/30/23   06/30/23   03/31/23
                                             
    Contract drilling revenues $ 2,832     $ 741     $ 2,091     $ 713     $ 1,378     $ 729     $ 649  
    Contract intangible asset amortization   52       7       45       8       37       19       18  
    Adjusted Contract Drilling Revenues $ 2,884     $ 748     $ 2,136     $ 721     $ 1,415     $ 748     $ 667  
                                             
    Net loss $ (954 )   $ (104 )   $ (850 )   $ (220 )   $ (630 )   $ (165 )   $ (465 )
    Interest expense, net of interest income   594       (13 )     607       220       387       157       230  
    Income tax expense (benefit)   13       21       (8 )     (43 )     35       (16 )     51  
    Depreciation and amortization   744       184       560       192       368       186       182  
    Contract intangible asset amortization   52       7       45       8       37       19       18  
    EBITDA   449       95       354       157       197       181       16  
                                             
    Loss on impairment of assets   57       (1 )     58       5       53       53        
    Loss on disposal of assets, net   169             169             169             169  
    Loss on impairment of investment in unconsolidated affiliate   5       5                                
    Loss on conversion of debt to equity   27       24       3             3       3        
    (Gain) loss on retirement of debt   31       (1 )     32             32             32  
    Adjusted EBITDA $ 738     $ 122     $ 616     $ 162     $ 454     $ 237     $ 217  
                                             
                                             
    Loss margin   (33.7 ) %   (14.0 ) %   (40.7 ) %   (30.9 ) %   (45.7 ) %   (22.6 ) %   (71.6 )%
    EBITDA margin   15.6   %   12.7   %   16.6   %   21.8   %   13.9   %   24.2   %   2.4 %
    Adjusted EBITDA margin   25.6   %   16.3   %   28.9   %   22.5   %   32.1   %   31.7   %   32.5 %
                                             
    TRANSOCEAN LTD. AND SUBSIDIARIES
    SUPPLEMENTAL EFFECTIVE TAX RATE ANALYSIS
    (in millions, except tax rates)
                                 
      Three months ended   Years ended
      December 31,       September 30,      December 31,    December 31,    December 31, 
      2024        2024        2023     2024     2023  
                                 
    Income (loss) before income taxes $ 62     $ (525 )   $ (83 )   $ (523 )   $ (941 )
    Loss on impairment of assets         629       (1 )     772       57  
    Loss on disposal of assets, net                           169  
    Loss on impairment of investment in unconsolidated affiliates               5       5       5  
    Loss on conversion of debt to equity               24             27  
    (Gain) loss on retirement of debt         (21 )     (1 )     (161 )     31  
    Adjusted income (loss) before income taxes $ 62     $ 83     $ (56 )   $ 93     $ (652 )
                                 
                                 
    Income tax expense (benefit) $ 55     $ (31 )   $ 21     $ (11 )   $ 13  
    Loss on impairment of assets         12             17        
    Loss on disposal of assets, net                            
    Loss on impairment of investment in unconsolidated affiliates                            
    Loss on conversion of debt to equity                            
    (Gain) loss on retirement of debt                            
    Changes in estimates (1)   (20 )     38       (3 )     141       74  
    Adjusted income tax expense (benefit) $ 35     $ 19     $ 18     $ 147     $ 87  
                                 
    Effective Tax Rate (2)   89.0     6.0     (25.0 )%      2.2     (1.4 )%
                                 
    Effective Tax Rate, excluding discrete items (3)   56.7     22.5     (30.0 )%      159.1     (13.3 )%
                                 
                                 
    (1) Our estimates change as we file tax returns, settle disputes with tax authorities, or become aware of changes in laws, operational changes and rig movements that have an effect on our (a) deferred taxes, (b) valuation allowances on deferred taxes and (c) other tax liabilities.
                                 
    (2) Our effective tax rate is calculated as income tax expense or benefit divided by income or loss before income taxes.
                                 
    (3) Our effective tax rate, excluding discrete items, is calculated as income tax expense or benefit, excluding various discrete items (such as changes in estimates and tax on items excluded from income before income taxes), divided by income or loss before income taxes, excluding gains and losses on sales and similar items pursuant to the accounting standards for income taxes related to estimating the annual effective tax rate.
                                             
    TRANSOCEAN LTD. AND SUBSIDIARIES
    NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS
    FREE CASH FLOW AND LEVERED FREE CASH FLOW
    (in millions)
                                             
      YTD   QTD   YTD   QTD   YTD   QTD   YTD
      12/31/24   12/31/24   09/30/24   09/30/24   06/30/24   06/30/24   03/31/24
                                             
    Cash provided by (used in) operating activities $ 447     $ 206     $ 241     $ 194     $ 47     $ 133     $ (86 )
    Capital expenditures   (254 )     (29 )     (225 )     (58 )     (167 )     (84 )     (83 )
    Free Cash Flow   193       177       16       136       (120 )     49       (169 )
    Debt repayments   (2,103 )     (30 )     (2,073 )     (258 )     (1,815 )     (1,664 )     (151 )
    Debt repayments, paid from debt proceeds   1,748             1,748       99       1,649       1,649        
    Levered Free Cash Flow $ (162 )   $ 147     $ (309 )   $ (23 )   $ (286 )   $ 34     $ (320 )
                                             
                                             
                                             
      YTD   QTD   YTD   QTD   YTD   QTD   YTD
      12/31/23   12/31/23   09/30/23   09/30/23   06/30/23   06/30/23   03/31/23
                                             
    Cash provided by (used in) operating activities $ 164     $ 98     $ 66     $ (44 )   $ 110     $ 157     $ (47 )
    Capital expenditures   (427 )     (220 )     (207 )     (50 )     (157 )     (76 )     (81 )
    Free Cash Flow   (263 )     (122 )     (141 )     (94 )     (47 )     81       (128 )
    Debt repayments   (1,717 )     (10 )     (1,707 )     (139 )     (1,568 )     (4 )     (1,564 )
    Debt repayments, paid from debt proceeds   1,156             1,156             1,156             1,156  
    Levered Free Cash Flow $ (824 )   $ (132 )   $ (692 )   $ (233 )   $ (459 )   $ 77     $ (536 )
                                             
                                             
                                             
      YTD   QTD   YTD   QTD   YTD   QTD   YTD
      12/31/22   12/31/22   09/30/22   09/30/22   06/30/22   06/30/22   03/31/22
                                             
    Cash provided by (used in) operating activities $ 448     $ 178     $ 270     $ 230     $ 40     $ 41     $ (1 )
    Capital expenditures   (717 )     (409 )     (308 )     (87 )     (221 )     (115 )     (106 )
    Free Cash Flow   (269 )     (231 )     (38 )     143       (181 )     (74 )     (107 )
    Debt repayments   (554 )     (101 )     (453 )     (196 )     (257 )     (92 )     (165 )
    Debt repayments, paid from debt proceeds                                        
    Levered Free Cash Flow $ (823 )   $ (332 )   $ (491 )   $ (53 )   $ (438 )   $ (166 )   $ (272 )

    The MIL Network

  • MIL-OSI Economics: African Union Summit 38th Ordinary Session of the Assembly of the Heads of State and Government of the African Union Speech by Dr. Akinwumi A….

    Source: African Development Bank Group
    Your Excellencies, Heads of State and Government,
    I wish to congratulate you, President João Lourenço, on your election as Chairperson of the African Union.
    I also congratulate the out-going Chairperson, President Mohamed Ould Ghazouani, for his excellent leadership of our Union under his tenure.

    MIL OSI Economics

  • MIL-OSI New Zealand: Preparing more PhD students to lift productivity

    Source: New Zealand Government

    A new university programme will help prepare PhD students for world-class careers in science by building stronger connections between research and industry, Science, Innovation and Technology Minister Dr Shane Reti says.

    “Our Government is laser focused on growing New Zealand’s economy and to do that, we must realise the potential of our science, innovation and technology sector,” says Dr Reti.

    “New Zealand’s PhD programmes are excellent at preparing students for a career in academia. What they are not doing is giving students the skills to use that cutting-edge science to grow Kiwi businesses.”

    The new applied doctorate scheme will be hosted by the University of Auckland, Victoria University of Wellington, University of Otago and Massey University, in partnership with New Zealand’s science, innovation and technology industry.

    “This scheme will equip PhD students in STEM subjects with the practical skills they need to apply their knowledge to real-world problems within ambitious businesses, alongside their core advanced research skills,” Dr Reti says.

    “This scheme will incorporate practical training and opportunities for students to apply their knowledge and develop strong relationships with the science, innovation and technology industry.

    “With more hands-on experiences that businesses need, such as project management, finance and the ability to commercialise intellectual property, a greater range of career options will open up for PhD students.

    “Businesses will benefit from improved access to advanced researchers, who have the skills to jump straight in and apply their knowledge, and students will be equipped with the skills they need to help grow New Zealand’s economy.”

    $20 million over the next five years will support up to 30 students each year to access the scheme.  

    The host universities will work through details of the scheme and contracting with MBIE, with the aim to invite applications for the first PhD students later in 2025. 

    MIL OSI New Zealand News

  • MIL-OSI: Archrock Announces Timing for Fourth Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 17, 2025 (GLOBE NEWSWIRE) — Archrock, Inc. (NYSE:AROC) (“Archrock”) will host a conference call on Tuesday, February 25, 2025, to discuss its fourth quarter and full-year 2024 financial and operating results as well as annual 2025 guidance. The call will begin at 9:00 a.m. Eastern Time. Archrock will release its fourth quarter 2024 earnings report prior to the conference call.

    To listen to the call via a live webcast, please visit Archrock’s website at www.archrock.com. The call will also be available by dialing 1 (800) 715-9871 in the United States, or 1 (646) 307-1963 for international calls. The access code is 4749623. A replay of the webcast will be available for 90 days on Archrock’s website shortly after the call.

    About Archrock

    Archrock is an energy infrastructure company with a primary focus on midstream natural gas compression and a commitment to helping its customers produce, compress and transport natural gas in a safe and environmentally responsible way. Headquartered in Houston, Texas, Archrock is a premier provider of natural gas compression services to customers in the energy industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment. For more information on how the Company embodies its purpose, WE POWER A CLEANER AMERICATM, visit www.archrock.com.

    SOURCE: Archrock, Inc.

    For information, contact:

    Megan Repine
    Vice President, Investor Relations
    (281) 836-8360
    investor.relations@archrock.com

    The MIL Network

  • MIL-OSI: Bybit Introduces the Physical Card for International Users: Simplifying Cryptocurrency Spending Worldwide

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Feb. 17, 2025 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has unveiled its latest innovation in crypto-friendly spending — the Bybit Physical Card. This development makes spending cryptocurrency more accessible and convenient for users, combining global reach with features tailored for both new and experienced crypto users.

    Simplified Global Spending

    Issued by Bybit Limited, the entity regulated by the Astana Financial Services Authority (AFSA) and in collaboration with S1LKPAY, the new Bybit Physical Card is now available to eligible international users. It allows seamless spending of cryptocurrency wherever Mastercard is accepted, making it a practical choice for frequent travelers and international payments.

    Key Benefits

    The Bybit Physical Card offers several features and enhanced user experience:

    • Free Card Issuance and Delivery for VIPs: VIP users get free issuance and delivery, while non-VIPs can obtain the card for $29.99. The card delivery period is five working days.
    • No Annual or Monthly Fees: No hidden fees or recurring charges.
    • 2% Cashback in USDT, AVAX: Cardholders earn rewards in popular cryptocurrencies with every eligible purchase.
    • Up to 8% APR: The competitive APR adds extra value for holders.
    • Samsung Pay Integration and Google Pay Integration: The card can be linked to Samsung Pay and Google Pay for faster and more convenient digital payments. 

    How It Works

    To get the Bybit Physical Card, users first apply for a Virtual Card. The Physical Card is designed to complement the Virtual Card by offering added flexibility and benefits for real-world transactions.

    New Bybit Card cardholders can enjoy 10% cashback, capped at up to $300. 

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

    For more details about Bybit, please visit Bybit Press

    For media inquiries, please contact: media@bybit.com 

    For updates, please follow: Bybit’s Communities and Social Media

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c3a2b6ba-1e4e-48ac-b4f0-396f2b7b84ce

    The MIL Network

  • MIL-OSI New Zealand: Sport and recreation facilities funding round opens

    Source: Auckland Council

    Indoor facilities, courts, changing rooms – these are just a few examples of the essential infrastructure needed to provide an optimal sport and recreation experience for Aucklanders.

    The sports organisations across Tāmaki Makaurau who want to develop their facilities can now apply for a slice of $9.5 million funding through Auckland Council’s Sport and Recreation Facilities Investment Fund (SRFIF).

    Councillor Angela Dalton, chair of the council’s Community Committee says the funding will lead to a boost in the number of Aucklanders participating in sport and recreation activities across the region.

    “Over the summer, we’ve seen Aucklanders at great facilities all over the region participating in their chosen sports, having fun and connecting – and this will continue with winter sports in the coming months.

    “The fund supports the development of sport and recreation facilities that create opportunities for Aucklanders to get active.

    Applications for the 2025/2026 Sport and Recreation Facilities Investment Fund open from 18 February 2025 to 18 March 2025.

    Kenneth Aiolupotea, General Manager Community Wellbeing welcomes applications to the fund.

    “Grassroots sports organisations play an important role in the Tāmaki Makaurau sport and recreation network.

    “Sports organisations that need help to finance building or infrastructure work are encouraged to apply through the fund.

    “A range of sports organisations, including football, rugby and league, bowls and kartsport received funding through the last

    contestable funding round.

    Who should apply? 

    The SRFIF is a contestable grant and open to non-council organisations for significant facility development. 

    It has a focus on communities that are in the greatest need of investment and large-scale community sport facility development projects that can leverage additional investment. 

    The guidelines that outline full eligibility and funding priorities are explained here.

    Key dates 

    The 2025/26 funding round will be open for applications between 18 February 2025 and 18 March 2025.

    Funding decisions will be made by the Community Committee in July 2025.

    More information on the council’s grants programme that supports Aucklanders’ aspirations for a great city, including the Sport and Recreation Facilities Investment Fund can be found on the Auckland Council website.

    MIL OSI New Zealand News

  • MIL-OSI Australia: How far would you trust AI to make important decisions?

    Source: University of South Australia

    18 February 2025

    Would you trust AI to choose your medical treatment?

    From tailored Netflix recommendations to personalised Facebook feeds, artificial intelligence (AI) adeptly serves content that matches our preferences and past behaviours. But while a restaurant tip or two is handy, how comfortable would you be if AI-algorithms were in charge of your medical expert or new hire?

    Now, a new study from the University of South Australia shows that most people are more likely to trust AI in situations where the stakes are low, such as music suggestions, but less likely to trust AI in high-stakes situations, such as medical decisions.

    However, those with poor statistical literacy or little familiarity with AI were just as likely to trust algorithms for trivial choices as they were for critical decisions.

    Assessing responses from nearly 2000 participants across 20 countries, researchers found that statistical literacy affects trust differently. People who understand that AI-algorithms work through pattern-based predictions (but also have risks and biases) were more sceptical of AI in high-stakes situations, but less so in low-stakes situations.

    They also found that older people and men were generally more cautious of algorithms, as were people in highly industrialised nations like Japan, the US, and the UK.

    Understanding how and when people trust AI-algorithms is essential, particularly as society continues to introduce and adopt machine-learning technologies.

    AI adoption rates have increased dramatically with 72% of organisations now using AI in their business.

    Lead author and human and artificial cognition expert, Dr Fernando Marmolejo-Ramos, says the speed at which smart technologies are being used to outsource decisions is outpacing our understanding to successfully integrate them into society.

    “Algorithms are becoming increasingly influential in our lives, impacting everything from minor choices about music or food, to major decisions about finances, healthcare, and even justice,” Dr Marmolejo-Ramos says.

    “But the use of algorithms to help make decisions implies that there should be some confidence in their reliability. That’s why it’s so important to understand what influences people’s trust in algorithmic decision-making.

    “Our research found that in low-stakes scenarios, such as restaurant recommendations or music selection, people with higher levels of statistical literacy were more likely to trust algorithms.

    “Yet, when the stakes were high, for things like health or employment, the opposite was true; those with better statistical understanding were less likely to place their faith in algorithms.”

    UniSA’s Dr Florence Gabriel says there should be a concentrated effort to promote statistical and AI literacy among the general population so that people can better judge when to trust algorithmic decisions.

    “An AI-generated algorithm is only as good as the data and coding that it’s based on,” Dr Gabriel says.

    “We only need to look at the recent banning of DeepSeek to grasp how algorithms can produce biased or risky data depending on the content that it was built upon.

    “On the flip side, when an algorithm has been developed through a trusted and transparent source, such as the custom-build EdChat chatbot for South Australian schools, it’s more easily trusted.

    “Learning these distinctions is important. People need to know more about how algorithms work, and we need to find ways to deliver this in clear, simple ways that are relevant to the user’s needs and concerns.

    “People care about what the algorithm does and how it affects them. We need clear, jargon-free explanations that align with the user’s concerns and context. That way we can help people to responsibly engage with AI.”

    …………………………………………………………………………………………………………………………

    Contacts for interview: Dr Florence Gabriel E: Florence.Gabriel@unisa.edu.au
    Dr Fernando Marmolejo-Ramos (now at Flinders University) E: fernando.marmolejoramos@flinders.edu.au
    Media contact:
    Annabel Mansfield M: +61 479 182 489 E: Annabel.Mansfield@unisa.edu.au

    Other articles you may be interested in

    MIL OSI News

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 17.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    17 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 17.02.2025

    Espoo, Finland – On 17 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,247,001 4.80
    CEUX
    BATE
    AQEU
    TQEX
    Total 1,247,001 4.80

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 17 February 2025 was EUR 5,987,974. After the disclosed transactions, Nokia Corporation holds 250,456,659 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network

  • MIL-Evening Report: Is Australia’s GST a tax or a tariff? And why has it become a target in the trade wars?

    Source: The Conversation (Au and NZ) – By Felicity Deane, Professor, Queensland University of Technology

    Australian beef exports to the United States are GST-free and should not be subject to any retaliatory tariff. William Edge/Shutterstock

    The latest round of proposed tariffs from US President Donald Trump includes a response to what the White House describes as “unfair” taxes – specifically, value-added taxes such as Australia’s Goods and Services Tax (GST).

    Most economically advanced countries have a value-added tax (VAT) or sales tax on consumption. This applies to domestic goods and services as well as to imports. The United States is one of the few countries that does not impose a sales tax, though many of the states impose their own sales tax.

    So the argument, according to the White House, is these taxes apply to imported goods, but not to exports.

    Is the GST a tax or a tariff?

    The GST is a broad-based consumption tax of 10%. It applies to most goods and services that are consumed in Australia, regardless of their origin.

    An import tariff – sometimes called an import duty – is imposed exclusively on imported goods as a condition of market access.

    Tariffs are not imposed on domestically produced goods at all. This is the main point of difference with a domestic consumption tax. The GST applies equally to imported and domestically produced goods, adhering to long-agreed international trade rules.

    It remains unclear how the Trump administration intends to implement a tariff that is equivalent to the 10% GST. In effect, this becomes a tax on US consumers if they buy Australian goods.




    Read more:
    What’s a trade war?


    Such an indirect tax would be regressive, which means it falls more heavily on lower-income consumers. The expansion of tariffs to include other nations’ VAT systems also represents a significant overreach into national sovereignty. It has long been accepted that sovereign nations have the right to tax their citizens and businesses as they see fit.

    Indeed, Australia’s GST is among the lowest among economically advanced nations, for which the average is 19%, so the wider impact on US consumers will be even greater.

    Goods that are exported to the US face a new round of tariffs.
    Shutterstock

    Trump is clearly (and unapologetically) seeking to reinvigorate US manufacturing. But the reality is that US labour costs are high. It is also inefficient for any country to produce all the goods and services its population requires. This is particularly the case in such a high-consumption nation as the US.

    The US has been described as a consumer of last resort
    because strong consumer demand has been filled by ever rising imports from other countries. The mutually beneficial relationship between the US and China has enabled the rise of the middle class in China. Trump’s tariffs may shift this, causing geopolitical tensions and economic instability.

    Australia’s response: pausing the digital services tax

    While these tariffs primarily harm US consumers, Australian businesses will also feel the effects. However, it is unclear to what extent. Notably, one main export to the US, unprocessed agricultural products such as beef, are GST-free and should not be subject to any retaliatory tariff.

    However, many other Australian exports could be disadvantaged. Trump’s policies will raise the cost of Australian imported goods in the US market, potentially making them less appealing to US consumers.

    The threat of these tariffs is clearly a problem for a federal government facing an impending election, and Prime Minister Anthony Albanese has so far responded cautiously. While a diplomatic approach may secure a minor concession, it’s in stark contrast to Canada’s firm stance, which included immediate threats of retaliatory measures.




    Read more:
    Whether we carve out an exemption or not, Trump’s latest tariffs will still hit Australia


    Trump’s use of tariff threats as a negotiating tactic does appear to be having the desired effect, with a potential suspension of Australia’s proposed big tech levy. This proposal would have imposed a tax on major tech firms such as Meta and Google if they did not reach a direct agreement with local media companies.

    Reports indicate the government has put this proposal on hold due to the risk of retaliatory tariffs from the US. Such a tax would likely have invoked the wrath of the US administration, with the digital services levies of Canada and France specifically referenced in the most recent White House tariff announcement.

    It is fair to say the White House statement deliberately misleads any reader into thinking that tariff percentages directly impact on trade volumes.

    This statement ignores a fundamental principle that has made international trade so appealing since World War II – and why economists have argued in support of it for hundreds of years. Countries produce and trade the goods and services at which they are efficient. Efficiency leads to lower costs which, all else being equal, means consumers are better off.

    The statement from the White House, together with Trump’s past pronouncements, demonstrate that all rules to do with international taxation and fairness have been thrown out.

    This does not appear to be the main concern, however, with Australian negotiators potentially willing to put on hold a crucial policy to ensure the long-term viability of local journalism.

    This is just the beginning. Anyone who felt some comfort and safety in the strength of our own democracy should carefully consider the overreach that is occurring through these threats.

    Felicity Deane 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. Is Australia’s GST a tax or a tariff? And why has it become a target in the trade wars? – https://theconversation.com/is-australias-gst-a-tax-or-a-tariff-and-why-has-it-become-a-target-in-the-trade-wars-250041

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Boys not only perform better in maths, they are also more confident about the subject than girls

    Source: The Conversation (Au and NZ) – By Sarah Buckley, Senior Research Fellow, Education Research, Policy and Development Division, Australian Council for Educational Research

    Michael Jung/ Shutterstock

    There is a persistent gender gap in Australian schools. Boys, on average, outperform girls in maths.

    We see this in national tests such as NAPLAN, as well as international assessments.

    New Australian Council for Educational Research analysis by my colleague Catherine Underwood shows how boys, on average, are also more confident and positive about maths than girls.

    What can parents do to help their children feel more confident about this core subject?




    Read more:
    Why are boys outperforming girls in maths?


    Boys outperform girls in maths

    An important measure of students’ maths performance is the OECD’s Programme for International Assessment (PISA) test. Run every three years, it measures 15-year-olds’ ability to apply their maths, science and reading knowledge to real-world situations.

    In 2022, 53% of Australian male students achieved the PISA national proficiency standard in maths, compared with 48% of female students. The gender gap on average scores was also greater in Australia than across the OECD.

    As part of PISA, students also completed a questionnaire about their attitudes to learning. ACER’s new analysis uses data from the questionnaire to look at Australian students’ confidence in maths and how this differs between girls and boys.

    Boys outperformed girls in maths skills in the most recent PISA test.
    Monkey Business Images/ Shutterstock

    Why is confidence so important?

    Research suggests students’ confidence has an impact on their academic performance.
    Researchers can call this “self-efficacy”, or the belief in your ability to successfully perform tasks and solve problems.

    Students with high mathematical self-efficacy embrace challenges, use effective problem-solving strategies, and persevere despite difficulties. Those with low self-efficacy may avoid tasks, experience anxiety, and ultimately underperform due to a lack of confidence in their maths abilities.

    We can see this in the 2022 PISA results. Girls in the top quarter on the self-rated “self-efficacy index” scored an average of 568 points on the PISA maths performance test, a staggering 147 points higher than the average for girls in the lowest quarter on the index.

    For boys, the benefit of confidence was even more pronounced. Those in the top quarter of the index scored 159 points on average higher in maths performance than those in the lowest quarter.

    Boys are more confident than girls

    The PISA questionnaire asked students how confident they felt about having to do a range of formal and applied maths tasks.

    Students showed similar levels of confidence solving formal maths tasks such as equations. But male students, on average, showed they were more confident than female students with applied mathematics tasks such as:

    • finding distances using a map

    • calculating a power consumption rate

    • calculating how much more expensive a computer would be after adding tax

    • calculating how many square metres of tiles are needed to cover a floor.



    What about attitude?

    The PISA data also shows Australian boys, on average, have more positive attitudes towards maths than girls.

    For example, in response to the statement “mathematics is easy for me” only 41% of female students agreed, compared with 55% of male students.

    In response to “mathematics is one of my favourite subjects”, 37% of female students agreed, compared with 49% of males.

    But in response to “I want to do well in my mathematics class”, 91% of female students agreed, compared to 92% of males.

    What can parents do at home to help?

    It is troubling that girls, on average, show consistently lower levels of confidence about maths tasks.

    This comes on top of other PISA questionnaire results that have shown in general (not just around maths) that a higher proportion of girls than boys say they feel nervous approaching exams.

    We want all students to have a positive relationship with maths, where they can appreciate maths skills are important in many aspects of their lives, and they’re willing to have a go to develop them.

    Recently, we collaborated with the Victorian Academy of Teaching and Leadership on resources for teachers, students and parents that focus on addressing maths anxiety.

    Research shows how we talk about maths at home is important in shaping students’ attitudes and persistence. Parents can help create a positive atmosphere around maths by:

    • dispelling “maths myths”, such as the idea maths ability is fixed and no amount of effort or practise can improve it

    • talking about how making mistakes is a normal part of learning

    • thinking about about how we forgive mistakes in other areas (such as sport, art or science): how can we treat maths mistakes in a similar way?

    • telling your child they have done a good job when they put effort into their maths learning.

    Parents can also help their children even if they don’t know the answers to maths problems. It’s perfectly fine to say, “I’m not sure how to do that one but who can we ask for help? Let’s talk to the teacher.”

    Modelling a “help-seeking” approach lets children know that it’s OK not to know the answer, the key is to persist and try.




    Read more:
    ‘Maths anxiety’ is a real thing. Here are 3 ways to help your child cope


    Sarah Buckley is an Honorary Senior Research Fellow in the Faculty of Education at the University of Melbourne and was on the academic advisory group for maths education app TownSquared. Sarah has worked on projects for ACER funded by the national and various state education departments and by ARC research grants.

    ref. Boys not only perform better in maths, they are also more confident about the subject than girls – https://theconversation.com/boys-not-only-perform-better-in-maths-they-are-also-more-confident-about-the-subject-than-girls-250022

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Australian students just recorded the lowest civics scores since testing began. But young people do care about politics

    Source: The Conversation (Au and NZ) – By Philippa Collin, Professor, Institute for Culture and Society, Western Sydney University

    Australian school students’ civics knowledge is the lowest it has been since testing began 20 years ago, according to new national data.

    Results have fallen since the last assessment in 2019 and to the lowest levels since the national civics test began in 2004.

    This follows a federal parliamentary report earlier this month, calling for mandatory civics education in Australian schools (it is currently part of the curriculum but not compulsory). The report cited fears young people are “poorly equipped” to participate in Australian democracy.

    The latest results are certainly concerning. But as a researcher of the political lives of young people, I would caution against assuming young people “don’t care” about politics, or are unable to engage in it.

    We also need to think about how civics education can engage meaningfully with young people and meet their needs.

    What does the new report say?

    This report from the Australian Curriculum, Assessment and Reporting Authority is based on a national sample of Year 6 and Year 10 students, who are tested on their civics and citizenship skills. It includes knowledge of democratic principles, the Australian political system and related history.

    The test is supposed to run every three years, but the most recent one was delayed by COVID. In 2024:

    • 43% of Year 6 students attained the “proficient standard”, compared with 53% in 2019

    • 28% of Australian Year 10 students met the proficient standard, compared with 38% in 2019.



    Young people care about history and community

    Alongside their civics skills, students were also asked about their support for a range of “citizenship behaviours”. While these figures have dropped from previous years, they nevertheless indicate most students are engaged in civic issues.

    • 81% of Year 6 students and 75% of Year 10 students thought learning about Australa’s history was “very or quite” important

    • 77% of Year 6 students and 70% of Year 10 students thought participating in activities to benefit the local community was “very or quite” important

    • 85% of Year 6 students and 68% of Year 10 students thought taking part in activities to protect the environment was “very or quite important”.



    Young people are knowledgable and active

    My research with young Australians shows they are interested, knowledgeable and active on civic and political issues in many different ways.

    This includes getting involved in or creating their own organisations, campaigns and online content. The issues range from bullying to mental health, climate change and ending gender-based violence.

    My research also shows even children as young as six have views on how to address complex issues such as climate change.

    When provided with platforms that respect their views, young people show they can research, deliberate and problem-solve. Many have clear opinions on what makes for a good life for themselves, Australia and the world. Initiatives such as a children’s parliament can connect their views directly with those who govern.

    Young people don’t feel included

    But governments and other authorities are historically poor at meaningfully engaging with young people.

    In my work and other research, we continue to hear many students feel they don’t have a genuine voice in the community.

    For example, in the climate movement, young female activists have said they do not feel feel their views are taken seriously by decision-makers because they are under 18.

    This suggests children’s interest and confidence in democracy could be supported by giving them meaningful opportunities to participate before they can vote.

    For example, creating governance mechanisms that include and are accountable to young people on matters that affect them. This should extend to issues which will significantly impact them into the future, such as housing and tax.

    Technology and critical media literacy matter

    We also have to make sure students are supported to get good quality information about issues relevant to them. And that they have the skills and resources to navigate information online.

    Research suggests engagement with news and strong media literacy skills are linked to civic participation.

    Studies have also found many Australian children who have high interest in the news are also involved in social issues online. Research shows social media is a key source for this news (as opposed to traditional sources such as newspapers or television).

    At the same time, just 41% of children aged 8–16 are confident they can tell fake news stories from real ones (which is is similar to survey results for adults).

    We also know some students, particularly from lower socioeconomic backgrounds, lack access to the technology they need for their schooling and everyday lives.

    How can civics and citizenship knowledge be improved?

    The new data certainly indicates the current system for civics education is not working for Australian students.

    As we work to improve young people’s civics knowledge, research indicates any new approach in schools should be created in conjunction with young people themselves. If young people are given a say in how their civics education is designed, they will be more engaged and the lessons will be more effective, especially for students who face disadvantage.

    Other studies we have co-designed and co-researched with young people have resulted in recommendations to trust young people and give them responsibilities and real-world learning opportunities, outside of school. They prioritised self-efficacy (people’s belief they can can control events that affect their lives) and a sense of belonging.

    If civics education is going to be effective, it should acknowledge young people already have an interest and a stake in politics, focus on where they get their information, and involve them in how civics education is designed and delivered.

    We might then have a model for supporting civics and citizenship learning across the community and across people’s lives.

    Philippa Collin receives funding from the Australian Research Council, Google, batyr and NSW Health.

    ref. Australian students just recorded the lowest civics scores since testing began. But young people do care about politics – https://theconversation.com/australian-students-just-recorded-the-lowest-civics-scores-since-testing-began-but-young-people-do-care-about-politics-250047

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: With just 5 years to go, the world is failing on a vital deal to halt biodiversity loss

    Source: The Conversation (Au and NZ) – By Justine Bell-James, Professor, TC Beirne School of Law, The University of Queensland

    Almost 200 nations have signed an ambitious agreement to halt and reverse biodiversity loss but none is on track to meet the crucial goal, our new research reveals.

    The agreement, known formally as the Kunming-Montreal Global Biodiversity Framework, seeks to coordinate global efforts to conserve and restore biodiversity. Its overarching goal is to safeguard biodiversity for future generations.

    Biodiversity refers to the richness and variety within and between plant and animal species, and within ecosystems. This diversity is declining faster than at any time in human history.

    Five years remain until the framework’s 2030 deadline. Our research shows a more intense global effort is needed to achieve the goals of the agreement and stem the biodiversity crisis.

    Biodiversity is in decline

    Biodiversity decline is a growing global issue. Around one million animal and plant species are threatened with extinction.

    The problem is driven by human activities such as land clearing, climate change, pollution, excessive resource extraction and the introduction of invasive species.

    As biodiversity continues to degrade, the foundation of life on Earth becomes increasingly unstable. Biodiversity loss threatens our food, water and air. It increases our vulnerability to natural disasters and imperils ecosystems crucial for human survival and wellbeing.

    The Global Biodiversity Framework was adopted in late 2022 after four years of consultation and negotiation. It involved 23 core commitments to be met by 2030 involving both land and sea. Key to the deal is protecting areas from future harm, and restoring past harms.

    These aims are captured in two targets.

    The first is ensuring 30% of degraded areas are under “effective restoration” to enhance biodiversity. This could involve replanting vegetation, reducing weeds and other pests, or restoring water to drained areas.

    The second is to effectively conserve and manage 30% of land and sea areas – especially those important for biodiversity and the ways ecosystems function and benefit humans. This could mean creating national or marine parks, or nature refuges on private land.

    Importantly, countries should both increase the size of areas protected or under restoration (a matter of quantity), and choose areas where interventions will most benefit biodiversity (a matter of quality).

    Nations were asked to provide an action plan before October 2024. In a paper published today, we reviewed these plans.

    What we found

    Our findings were disappointing. Only 36 countries (less than one quarter of signatory nations) submitted a plan. Australia was one of them.

    And the plans provided were underwhelming. In particular, nations fell badly short on the restoration target. Only nine out of 36 countries committed to restoring a specific percentage of land and sea.

    For example, Italy pledged only to restore “large surfaces of degraded areas” and Australia committed to restoring “priority degraded areas”.

    Defining commitments with numbers is important, because it allows progress to be monitored and measured, and forces nations to be accountable.

    Of those nine countries that made specific restoration commitments, only six committed to the 30% goal: Aruba, China, Curaçao, Japan, Luxembourg and Uganda.

    The results were better when it came to protecting land and sea. Some 22 of the 36 countries set a percentage target for protection. However, only 14 committed to protecting at least 30% of areas, in line with the goals of the deal.

    Again, quality is also important here. Under the deal nations signed up to, protected land should enhance biodiversity, and cover areas very valuable for biodiversity recovery. However, many nations were silent on the issue of quality when outlining their planned protections. It means their efforts could, in some cases, do little for biodiversity.

    A spotlight on Australia

    In recent years, Australia has sought to establish itself as a biodiversity leader on the international stage. This included hosting the global Nature Positive Summit in October last year.

    Following the summit, the federal government claimed it was:

    a tangible demonstration of Australia’s commitments under the Kunming Montreal Global Biodiversity Framework. It showed our willingness to work collaboratively towards the goal of halting and reversing biodiversity loss.

    But despite the rhetoric, our research shows Australia’s plans are not particularly impressive.

    As noted above, Australia does not provide a percentage target for ecosystem restoration. Instead, its plan refers broadly to restoring “priority areas” without defining what these areas are.

    Australia’s plan pledges to identify “priority degraded areas” and define what “under effective restoration” means, but does not outline how this will be done.

    Australia is more aligned with global leaders on protection of biodiversity. It committed to safeguarding 30% of land and water in protected areas.

    However, it provided limited details on how it will select, implement and enforce protection measures. The plan also fails to recognise current shortcomings in protected areas, both in oceans and on land – in particular, Australia’s focus to date on quantity over quality when it comes to selecting sites.

    In contrast, the nation of Slovenia mapped out proposed protected areas.

    So, while Australia did submit an action plan, it has missed the opportunity to be a true global leader.

    Running out of time

    The Global Biodiversity Framework aims to unite nations in the fight to conserve and restore biodiversity. But as our research shows, many countries do not have plans to achieve this, and plans submitted to date are largely inadequate.

    As species and habitats are lost, ecosystems become less stable. This damages human health and wellbeing, as well as economies. Biodiversity loss also undermines vital cultural and spiritual connections to nature.

    All countries must accelerate efforts to avert the biodiversity crisis, and preserve Earth’s precious natural places for future generations.

    Justine Bell-James receives funding from the Australian Research Council, the National Environmental Science Program, and Queensland Government’s Department of Environment, Tourism, Science and Innovation. She is a Director of the National Environmental Law Association.

    James Watson has received funding from the Australian Research Council, National Environmental Science Program, South Australia’s Department of Environment and Water, Queensland’s Department of Environment, Science and Innovation as well as from Bush Heritage Australia, Queensland Conservation Council, Australian Conservation Foundation, The Wilderness Society and Birdlife Australia. He serves on the scientific committee of BirdLife Australia and has a long-term scientific relationship with Bush Heritage Australia and Wildlife Conservation Society. He serves on the Queensland government’s Land Restoration Fund’s Investment Panel as the Deputy Chair.

    ref. With just 5 years to go, the world is failing on a vital deal to halt biodiversity loss – https://theconversation.com/with-just-5-years-to-go-the-world-is-failing-on-a-vital-deal-to-halt-biodiversity-loss-249841

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Should you be allowed to sue a judge? The High Court says no

    Source: The Conversation (Au and NZ) – By Stephen Parker, Honorary Professorial Fellow, Melbourne CSHE, The University of Melbourne

    Shutterstock

    Judges in Australian courtrooms have a lot of power. They can decide on someone’s guilt and the punishment for it, including lengthy prison time.

    But what if they get it badly wrong? Should you be able to sue a judge for damages?

    For several centuries the answer has been no in a “superior” court, such as a state Supreme Court, but possibly yes in an “inferior” court, such as a magistrates, district or county court, where most cases are actually heard.

    The High Court of Australia has now ruled that judges are immune from being sued for damages in every court and for all purposes. It is absolute, even if you have been falsely imprisoned.

    But how did this decision come to be, and what does it mean for fair judicial processes?

    The High Court case

    The story behind the ruling began with a legal property dispute between a couple called the Stradfords.

    Judge Salvatore Vasta in the Federal Circuit Court ordered that Mr Stradford should make “full and frank disclosure” of various financial documents. Mrs Stradford complained repeatedly that the disclosure was not complete.

    Judge Vasta adjourned proceedings briefly to allow them to discuss settlement. To give Mr Stradford something to think about, he said he hoped Mr Stradford had brought his toothbrush with him.

    Later that day, Judge Vasta sentenced Mr Stradford to 12 months’ imprisonment for contempt of court in disobeying the disclosure order. Judge Vasta mistakenly assumed a previous judge had already decided Mr Stradford was in contempt.

    Mr Stradford appealed the contempt conviction in the Full Court of the Family Court. It allowed the appeal, concluding “the processes employed [by Judge Vasta] were so devoid of procedural fairness […] and the reasons for judgment so lacking in engagement with the issues of fact and law to be applied” that it would be an “affront to justice” to permit the contempt declaration and the imprisonment order to stand.

    Armed with this finding, Mr Stradford sued Judge Vasta for damages for false imprisonment and won. Judge Vasta then appealed to the High Court, arguing that he was immune from being sued. In its ruling last week, the High Court agreed with him.

    Why can’t judges be sued?

    Immunity from being sued helps protect judicial independence, said the High Court.

    If, at the back of their mind, a judge thinks they might be sued for damages should they make a wrong decision, they might be swayed by that, rather than objectively and impartially applying the law to the facts.

    Immunity also helps to achieve finality in court proceedings and “quell disputes”. Finality is a consideration in all legal systems, and is the reason why some claims are time-barred if not brought within a specified period. You don’t want the same cases dragging on forever.

    The High Court noted that a disappointed litigant can appeal against a decision, but once all appeal avenues have been exhausted, that is that.

    The High Court has ruled judges can’t be sued for their decisions.
    Shutterstock

    If a judge has committed a crime, such as accepting a bribe, then the criminal law can be applied.

    But in the more likely case where the unsuccessful party argues there has been a mistake, or even that the judge was motivated by bias or malice, the only recourse is to appeal. They can’t sue the judge.

    The High Court noted also that a judge can be removed by parliament for misbehaviour or incapacity.

    But there are counter-arguments to which the court didn’t give much attention.

    For those who feel the outcome was wrong, appealing against a decision is very expensive. It’s simply not open to most people, due to the near-disappearance of legal aid in civil cases.

    And the removal of judges by parliaments is extremely rare, while not helping the litigant anyway.

    Is this good public policy?

    In other walks of professional life, indemnity insurance exists. If judges could be sued, but were insured, they would normally not pay compensation personally. And if they could not find insurance, perhaps something needs investigating.

    A compromise position would be possible. Any legal action against a judge could have to exceed a certain threshold of severity to proceed.

    For example, a plaintiff might have to obtain prior permission, and for that they might have to prove malice on the part of the judge or an error so extreme that the judge had been reckless, not merely negligent.

    But courts are different, it seems. Litigants do not make a contract with courts and are not consumers of a court’s services. They are engaging in a public process, where bigger issues are in play.

    The public policy arguments so resoundingly endorsed by the High Court aren’t based on data about what the public thinks, or would necessarily think if all the arguments were presented to them.

    None of this has improved Mr (or Mrs) Stradford’s financial position. No one is going to compensate them.

    Courts are, in a very real sense, a law unto themselves.

    Stephen Parker 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. Should you be allowed to sue a judge? The High Court says no – https://theconversation.com/should-you-be-allowed-to-sue-a-judge-the-high-court-says-no-249939

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI United Nations: Humanitarians underscore need for urgent and sustained support in Gaza

    Source: United Nations 2

    Humanitarian Aid

    As the UN and partners continue to deliver life-saving assistance across the Gaza Strip, the scale of needs remains overwhelming, requiring urgent and sustained support, UN aid coordination office OCHA said on Monday. 

    OCHA cited Gaza’s Ministry of Health which stressed that oxygen supplies are critically needed to keep emergency, surgical and intensive care services running at hospitals, including Al Shifa and Al Rantisi hospitals in Gaza City. 

    Health partners are engaging with the authorities to bring in generators, spare parts and equipment required to produce oxygen locally in Gaza,” the agency said. 

    Shelter and education

    Over the weekend, humanitarian partners working in the shelter sector distributed tarpaulins to more than 11,000 families in the north. 

    In Khan Younis, some 450 families are receiving sealing-off kits to create short-term shelters, kitchen sets and hygiene kits at the displacement site of Al Mawasi.  

    Educational activities also continue to expand, and more than 250,000 children have enrolled in distance learning programmes run by the UN Palestine refugee agency, UNRWA.

    Some 95 per cent of school buildings across Gaza were damaged over the past 15 months of hostilities, according to UN partners working in the education sector. Students are currently attending classes in makeshift tents and open spaces, amid winter temperatures.  

    West Bank hostilities

    OCHA also reported on the situation in the West Bank, where casualties continue to be reported due to the ongoing operations by Israeli forces in Tulkarm and Jenin.          

    “These are the most extensive Israeli operations in the West Bank in two decades, causing high casualties and significant displacement, especially in refugee camps,” the agency noted.

    Critical infrastructure has also been severely damaged, driving humanitarian needs even higher.

    OCHA once again warned that the use of lethal, war-like tactics during these operations raises concerns over the use of force that exceeds law enforcement standards. 

    Settler attacks against Palestinians and their properties also continue to be reported across the West Bank. Israeli settlers attacked residents in several villages in Nablus governorate over the weekend – in one instance, setting a house on fire. 

    Humanitarians are mobilizing resources to support affected communities, OCHA said.

    Averting UNRWA collapse

    The head of UNRWA warned on Monday that if the agency collapses it will create a vacuum in the occupied Palestinian territory and send shockwaves through neighbouring countries.

    Commissioner-General Philippe Lazzarini was speaking in Cairo at the Fourth Meeting of the Global Alliance for the Implementation of the Two-State Solution.

    He said Israeli legislation targeting UNRWA’s operations is now being implemented.

    Last October, Israel’s parliament, the Knesset, adopted two bills banning UNRWA from working in Israeli territory and enforcing a no-contact policy between national authorities and agency representatives. The laws took effect in January.

    Threat to peace and stability 

    Mr. Lazzarini warned against allowing UNRWA to “implode” due to the Knesset legislation and the suspension of funding by key donors. 

    An environment in which children are deprived of education, and people lack access to basic services, is fertile ground for exploitation and extremism” he said.  “This is a threat to peace and stability in the region and beyond.”

    He said that alternatively, UNRWA could progressively conclude its mandate within the framework of a political process like that championed by the Global Alliance.

    The agency would gradually transition its public-like services to empowered and prepared Palestinian institutions. This is the future for which we are preparing,” he said. 

    MIL OSI United Nations News

  • MIL-OSI United Nations: Thailand Business News

    Source: UNISDR Disaster Risk Reduction

    Mission

    Thailand Business News is a comprehensive news service about Thailand with a business and financial perspective edited in Bangkok by Siam News Network.

    Thailand Business News provides reliable and timely information on the Thai economy, markets, and business sectors. Its mission is to help investors, entrepreneurs, and policymakers make informed decisions and stay updated on the latest trends and opportunities in Thailand.

    MIL OSI United Nations News

  • MIL-OSI USA: Governor Stein Announces $102 Million Expansion for Domestic Transformer Manufacturer in Raeford

    Source: US State of North Carolina

    Headline: Governor Stein Announces $102 Million Expansion for Domestic Transformer Manufacturer in Raeford

    Governor Stein Announces $102 Million Expansion for Domestic Transformer Manufacturer in Raeford
    lsaito

    Raleigh, NC

    Today, Governor Josh Stein announced a major expansion for Pennsylvania Transformer Technology, LLC (PTT), a domestic manufacturer of power and distribution transformers, to add 217 new jobs in Hoke County. The company will invest more than $102.5 million to expand its manufacturing footprint in the City of Raeford.

    “PTT’s expansion is an outstanding economic development win for Hoke County and the entire state of North Carolina,” said Governor Josh Stein. “North Carolina is home to the largest manufacturing workforce in the Southeast and a central East Coast location, setting up our rural communities for more success.”

    Headquartered in Canonsburg, Pennsylvania, with a nearly-century-old history, PTT is a leading domestic manufacturer of power and distribution transformers for the electric utility, municipal power, renewable energy and industrial markets. With plans to build an additional 300,000 square feet across two new state-of-the-art facilities in Raeford, PTT’s expansion is designed to increase its manufacturing capacity of transformers in the United States and contribute to reducing domestic supply chain shortages of critical transformer equipment. 

    “We built our first factory in Hoke County, North Carolina back in 1992 and have been proudly manufacturing power transformers in this community for over 30 years,” said Sandeep Chakravarty, President of PTT. “We are thrilled to further invest in and expand our operations in Hoke County. This new state-of-the-art facility will not only enhance our production capacity, it will provide economic benefits to the community by creating additional well-paying, high-quality jobs and more broadly, contribute to the country’s economic growth and the energy transition.” 

    “This major investment is more proof that North Carolina is indeed the best state to do business,” said N.C. Commerce Secretary Lee Lilley. “When companies that currently operate in our state reinvest here, it validates our efforts to provide a quality pool of skilled talent, and business friendly environment where companies can grow and thrive.” 

    While salaries for the new positions will vary, the average annual salary is expected to be $64,949, exceeding the Hoke County average of $42,659. These new jobs could create a potential positive aggregate annual payroll impact of more than $14 million to the local economy.

    A performance-based grant of $800,000 from the One North Carolina Fund will support the company’s expansion in Hoke County. The OneNC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All OneNC grants require a matching participation from local governments and any award is contingent upon that condition being met.

    “This is outstanding news for Raeford and Hoke County,” said N.C. Senator Danny Earl Britt, Jr. “These new jobs and millions of investments are the right sparks to energize our community, and our people stand ready to support the company in its next phase of growth.

    “PTT has been a fantastic corporate citizen in Raeford for more than 30 years,” said N.C. Representative Garland E. Pierce. “This continued partnership gives us a great vote of confidence in our ability to support such a transformative company as they execute its strategic plan for decades to come.”

    In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina General Assembly, North Carolina Department of Transportation and its Rail Division, North Carolina Community College System, North Carolina Railroad Company, Aberdeen & Rockfish Railroad, Golden LEAF Foundation, North Carolina’s Southeast, Hoke County, Raeford/Hoke Economic Development, City of Raeford, and Piedmont Natural Gas. 

    Feb 17, 2025

    MIL OSI USA News

  • MIL-OSI: Notice Regarding Uab „orkela“ Financial Statements for 12-Month Period Ended 31 December 2024

    Source: GlobeNewswire (MIL-OSI)

    Basic data about the Company

    UAB „Orkela“ (hereinafter – the Company) is a private limited liability company registered with the State Enterprise Centre of Registers on 24 September 2015.

    Legal address: Jogailos st. 4 , Vilnius. The Company has no branches or representative offices.

    The Company’s main activity is real estate development and construction. The Company owns a land plot and building complex in Vilnius, at Vasario 16 st. 1. The Company is developing a lyceum and hotel complex next to the Church and Monastery of the Apostles St. Philip and James. The Company expects to complete the Project in 2025.

    Highlights of 2024

    • In January 2024, the Company issued one tranche of bonds consisting of 11 066 units (EUR 11 066 000 nominal value) out of its total bond issue with a nominal value of EUR 40 million.
    • In June 2024, the Company entered into a lease agreement with a private school operator for a 3,300 square meter area.
    • In July 2024, the Company entered into a franchise agreement with the Marriott Hotels Group, securing the rights to operate a hotel under the AC Hotels by Marriott brand.
    • In August 2024, the Company signed a hotel management agreement with Apex Alliance to oversee the hotel’s operations.
    • In November 2024, the Company issued one tranche of bonds consisting of 4 090 units (EUR 4 090 000 nominal value) out of its total bond issue with a nominal value of EUR 40 million.

    During 2024 the Company invested EUR 11,77 million in the development of the project. During this period the Company incurred EUR 432,8 thousand of costs, related to the project development, and EUR 3 151,1 thousand of project financing costs.

    As at 31 December 2024 the Company’s assets amount to EUR 50 695 thousand (31 December 2023 – EUR 33 933 thousand).

    LTC (Loan to cost) ratio as at 31 December 2024 was 64,68%.

    More information:

    Director of UAB „Orkela“

    Anastasija Pocienė

    Anastasija.Pociene@lordslb.lt
    +370 671 16 232

    Attachments

    The MIL Network

  • MIL-OSI Economics: 4th Trade for Peace Week opens with high-level session on private sector’s role in stability

    Source: World Trade Organization

    The opening session, titled “Building Resilience through Trade: Private Sector Engagement for Sustainable Peace”, highlighted the private sector’s capacity to drive post-conflict economic recovery and long-term stability.

    WTO Director-General Ngozi Okonjo-Iweala delivered the opening remarks via video message , highlighting the significance of trade in advancing peace, especially in light of increasing global uncertainty. “Promoting peace and prosperity through trade was a founding goal of the multilateral trading system 80 years ago,” she stated. “For trade to deliver tangible dividends for peace in conflict-affected regions, we need partnerships that bridge trade, peace and development. That is what the Trade for Peace Programme is about.”

    A key highlight of the session was Somalia’s reaffirmation of its commitment to leveraging trade for stability, coinciding with the country’s first Working Party meeting on WTO accession. Salah Ahmed Jama, Deputy Prime Minister of the Federal Republic of Somalia, emphasized Somalia’s vision for trade-driven peace. “Somalia’s WTO accession is more than an economic milestone — it is a strategic move towards sustainable peace,” he said. “By fostering an inclusive and rules-based trade system, we are not only integrating into the global economy but also creating opportunities that reduce conflict drivers.”

    Moderated by Itonde Kakoma, President of Interpeace (an international organization that prevents violence and builds lasting peace), the high-level session convened representatives from international organizations, policymakers and private sector leaders.

    Speakers included Idris Abdul Rahman Al Khanjari, Ambassador of Oman to the United Nations Office in Geneva, Vepa Hajiyev, Ambassador of Turkmenistan to the United Nations Office in Geneva, Dorothy Tembo, Deputy Executive Director of the International Trade Centre (ITC), Andrew Wilson, Deputy Secretary-General of the International Chamber of Commerce (ICC), and  Frank Clary, Vice-President of Sustainability at Agility (a global leader in supply chain services, infrastructure and innovation and a pioneer in emerging markets). Their interventions highlighted innovative strategies for bridging trade and peacebuilding, emphasizing how responsible investment and market-driven solutions can contribute to long-term stability.

    The T4P Week will feature interactive sessions, panel discussions and strategic dialogues, bringing together key stakeholders in the field of trade and peace. A major highlight of the week will be the High-Level Book Launch, “Pathways to Sustainable Trade and Peace”, on 20 February, where experts and contributors will present research findings on how trade can serve as a tool for economic resilience and peacebuilding in fragile regions.

    The Trade for Peace Research and Knowledge Database, a comprehensive platform that compiles research studies and other resources on the linkages between trade and peace, will also be launched during the week. The database serves as a practical tool to assist governments, policymakers and researchers in data analysis, policymaking and informed decision-making.

    With over ten dedicated sessions bringing together policy experts, business leaders and peace practitioners, the T4P Week provides an opportunity to explore the synergies between trade and peace. Participants are encouraged to join the discussions, share insights and engage with experts shaping the future of trade and peace.

    For more information see: WTO Trade for Peace.

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    MIL OSI Economics

  • MIL-OSI NGOs: Meta’s new content policies risk fueling more mass violence and genocide 

    Source: Amnesty International –

    By Pat de Brún, Head of Big Tech Accountability at Amnesty International and Maung Sawyeddollah, the founder and Executive Director of the Rohingya Students’ Network.

    Recent content policy announcements by Meta pose a grave threat to vulnerable communities globally and drastically increase the risk that the company will yet again contribute to mass violence and gross human rights abuses – just like it did in Myanmar in 2017. The company’s significant contribution to the atrocities suffered by the Rohingya people is the subject of a new whistleblower complaint that has just been filed with the Securities and Exchange Commission (SEC). 

    On January 7, founder and CEO Mark Zuckerberg announced a raft of changes to Meta’s content policies, seemingly aimed at currying favor with the new Trump administration. These include the lifting of prohibitions on previously banned speech, such as the denigration and harassment of racialized minorities. Zuckerberg also announced a drastic shift in content moderation practices – with automated content moderation being significantly rolled back. While these changes have been initially implemented in the US, Meta has signaled that they may be rolled out internationally. This shift marks a clear retreat from the company’s previously stated commitments to responsible content governance. 

    “I really think this is a precursor for genocide […] We’ve seen it happen. Real people’s lives are actually going to be endangered.

    A former Meta employee recently speaking to the platformer

    As has been well-documented by Amnesty International and others, Meta’s algorithms prioritize and amplify some of the most harmful content, including advocacy of hatred, misinformation, and content inciting racial violence – all in the name of maximizing ‘user engagement,’ and by extension, profit. Research has shown that these algorithms consistently elevate content that generates strong emotional reactions, often at the cost of human rights and safety. With the removal of existing content safeguards, this situation looks set to go from bad to worse. 

    As one former Meta employee recently told Platformer, “I really think this is a precursor for genocide […] We’ve seen it happen. Real people’s lives are actually going to be endangered.” This statement echoes the warnings from various human rights experts who have raised concerns about Meta’s role in fuelling mass violence in fragile and conflict-affected societies. 

    We have seen the horrific consequences of Meta’s recklessness before. In 2017, Myanmar security forces undertook a brutal campaign of ethnic cleansing against Rohingya Muslims. A UN Independent Fact-Finding Commission concluded in 2018 that Myanmar had committed genocide. In the years leading up to these attacks, Facebook had become an echo chamber of virulent anti-Rohingya hatred. The mass dissemination of dehumanizing anti-Rohingya content poured fuel on the fire of long-standing discrimination and helped to create an enabling environment for mass violence. In the absence of appropriate safeguards, Facebook’s toxic algorithms intensified a storm of hatred against the Rohingya, which contributed to these atrocities. According to a report by the United Nations, Facebook was instrumental in the radicalization of local populations and the incitement of violence against the Rohingya. 

    Rather than learning from its reckless contributions to mass violence in countries including Myanmar and Ethiopia, Meta is instead stripping away important protections that were aimed at preventing any recurrence of such harms. 

    In enacting these changes, Meta has effectively declared an open season for hate and harassment targeting its most vulnerable and at-risk people, including trans people, migrants, and refugees. 

    Meta claims to be enacting these changes to advance freedom of expression. While it is true that Meta has wrongfully restricted legitimate content in many cases, this drastic abandonment of existing safeguards is not the answer. The company must take a balanced approach that allows for free expression while safeguarding vulnerable populations. 

    All companies, including Meta, have clear responsibilities to respect all human rights in line with international human rights standards. Billionaire CEOs cannot simply pick and choose which rights to respect while flagrantly disregarding others and recklessly endangering the rights of millions. 

    Rather than learning from its reckless contributions to mass violence in countries including Myanmar and Ethiopia, Meta is instead stripping away important protections that were aimed at preventing any recurrence of such harms. 

    Pat de Brún is Head of Big Tech Accountability at Amnesty International 

    An investigation by Amnesty International in 2021 found that Meta had “substantially contributed” to the atrocities perpetrated against the Rohingya, and that the company bears a responsibility to provide an effective remedy to the community. However, Meta has made it clear it will take no such action. 

    Rohingya communities — most of whom were forced from their homes eight years ago and still reside in sprawling refugee camps in neighboring Bangladesh — have also made requests to Meta to remediate them by funding a $1 million education project in the refugee camps. The sum represents just 0.0007% of Meta’s 2023 profits of $134 billion. Despite this, Meta rejected the request. This refusal further demonstrates the company’s lack of accountability and commitment to profit over human dignity. 

    That is why we – Rohingya atrocity survivor Maung Sawyeddollah, with the support of Amnesty International, the Open Society Justice Initiative, and Victim Advocates International – on January 23, 2025, filed a whistleblower complaint with the SEC. The complaint outlines Meta’s failure to heed multiple civil society warnings from 2013 to 2017 regarding Facebook’s role in fueling violence against the Rohingya. We are asking the agency to investigate Meta for alleged violations of securities laws stemming from the company’s misrepresentations to shareholders in relation to its contribution to the atrocities suffered by the Rohingya in 2017. 

    Between 2015 and 2017, Meta executives told shareholders that Facebook’s algorithms did not result in polarization, despite warnings that its platform was actively proliferating anti-Rohingya content in Myanmar. At the same time, Meta did not fully disclose to shareholders the risks the company’s operations in Myanmar entailed. Instead, in 2015 and 2016, Meta objected to shareholder proposals to conduct a human rights impact assessment and to set up an internal committee to oversee the company’s policies and practices on international public policy issues, including human rights. 

    With Zuckerberg and other tech CEOs lining up (literally, in the case of the recent inauguration) behind the new administration’s wide-ranging attacks on human rights, Meta shareholders need to step up and hold the company’s leadership to account to prevent Meta from yet again becoming a conduit for mass violence, or even genocide. 

    Similarly, legislators and lawmakers in the US must ensure that the SEC retains its neutrality, properly investigate legitimate complaints – such as the one we recently filed, and ensure those who abuse human rights face justice. 

    Globally, governments and regional bodies such as the EU must redouble their efforts to hold Meta and other Big Tech companies to account for their human rights impacts. As we have seen before, countless human lives could be at risk if companies like Meta are left to their own devices. 

    Pat de Brún is Head of Big Tech Accountability at Amnesty International and Deputy Director of Amnesty Tech

    Maung Sawyeddollah is the founder and Executive Director of the Rohingya Students’ Network. He survived the Myanmar military’s atrocities in 2017 and fled to Bangladesh. Sawyeddollah is now studying at NYU while continuing to campaign for justice for the Rohingya. 

    MIL OSI NGO

  • MIL-OSI New Zealand: Shuttering govt entities? Public service boss’s comments welcomed

    Source: ACT Party

    “ACT enthusiastically welcomes a debate on shuttering redundant government entities,” says ACT Public Service spokesperson Todd Stephenson after the Public Service Commissioner raised the prospect publicly.

    “For households and businesses in an economic slump, cancelling old subscriptions is a financial no-brainer, and it’s time for the Government to run the ruler over its own redundant commitments.

    “For starters, we could close ministries focused on serving specific demographic groups, and instead spend the funding based on need, through the Social Investment Agency.

    “We could scrap the Human Rights Commission and instead strengthen the Human Rights Review Tribunal – the body that can actually act on human rights breaches.

    “We could abolish the Energy Efficiency and Conservation Authority, and the Climate Change Commission, and just let the emissions trading scheme do its job.

    “If we’re serious about growing the economy, we need to shrink the scope of the government, focus on doing the basics well, and return savings to taxpayers. We need to transfer power and resources away from Wellington and back to the firms, farms, and families doing the real work to pull us out of recession.”

    MIL OSI New Zealand News

  • MIL-OSI Asia-Pac: ECI bids farewell to Shri Rajiv Kumar, the 25th CEC of India

    Source: Government of India

    Posted On: 17 FEB 2025 8:30PM by PIB Delhi

    The Election Commission of India today bid farewell to Shri Rajiv Kumar who will be demitting the office of Chief Election Commissioner on 18.02.2025.

    Shri Rajiv Kumar had joined ECI as Election Commissioner on September 1st, 2020 and assumed charge as the 25th Chief Election Commissioner of India on May 15, 2022. His tenure spanning 4.5 years in the Commission was characterized by silent yet deep-rooted reforms across various domains spanning structural, technological,        capacity development, communication, international cooperation and administration. Shri Kumar during his tenure has completed one full electoral cycle with conduct of elections in 31 States/UTs, the Presidential and Vice-Presidential elections 2022, Lok Sabha elections 2024 and Rajya Sabha renewals -a rare and monumental feat in electoral management. The elections were conducted peacefully with near zero repolls and incidents of violence.

    In his farewell address, CEC Shri Rajiv Kumar thanked the 15 million polling officials for their dedication to uphold democratic values. He asserted that the trust of close to nearly a billion voters is unfazed by motivated and uncorroborated attacks on India’s democratic institutions. As a proponent of technology, Shri Kumar outlined a path for strengthening conduct of elections while guarding against the threats of cyber-attacks and misinformation on social media. He lauded the voters for their vibrant participation especially women voters and said that the electoral process is marching towards more inclusivity. His full speech is annexed.

    The Election Commissioners Shri Gyanesh Kumar and Dr. Sukhbir Singh Sandhu conveyed their appreciation for the inclusive, transformative and purpose driven leadership of CEC Shri Rajiv Kumar, that has strengthened electoral processes and has raised India’s stature globally in the field of election management.

    CEC Shri Kumar’s tenure was marked by a slew of electoral reforms, including operationalizing four qualifying dates for voter registration with advanced application facility for 17+ youngsters; simplified forms for voter registration; redefining electoral boundaries with delimitation in Assam;

    ensuring voting by polling personnel at Voter Facilitation Centre to avoid any intimidation, delays and wrong doing. These initiatives were aimed at empowering every eligible citizen while modernizing election administration.

    Shri Kumar championed technology-driven electoral reforms to enhance efficiency, transparency, and accessibility. Under his leadership, ERONET 2.0, managing largest electoral databases, strengthened voter roll management with multi-layered security, seamless, and real-time application processing. Shri Kumar also established mechanisms to tackle the challenge of misinformation and fake news on social media platforms. A myth vs reality register was launched during Lok Sabha Elections 2024.

    Shri Kumar’s contributions were both systemic and profoundly human. His hands-on leadership was evident in his actions. On the global stage, his efforts amplified India’s voice in advancing democratic values, with the Election Commission spearheading ‘Cohort on Election integrity’ and training officials from many election management bodies.

    Beyond institutional reforms and global leadership, his tenure was defined by deeply personal and compassionate gestures that embodied the human spirit of democracy. He believed every voter, regardless of age or ability, deserved recognition and respect. For an inclusive election, efforts were made to enrol marginalised sections like PVTGs and third genders. While conveying his respect, he wrote personalized letters to over 2.5 lakh centenarian voters for their contribution to democracy. He also called upon Youth and Urban voters to get inspired and engage actively in the electoral process.  He consistently raised and pursued innovative measures like establishment of polling stations in high rise societies to address the rising trend of youth and urban apathy in the election process.

    A passionate trekker, he undertook a strenuous journey to one of India’s most remote polling stations to understand challenges faced by polling personnel, inspired innovations like specially designed EVM carry bags for easier transport in tough terrains. Route rationalization and near removal of P-3 polling stations. Known for his poetic expressions, CEC Kumar used shayari to make complex electoral issues relatable, engaging the public and reinforcing trust in the democratic process. A lover of Indian vocal classical and devotional music, Shri Kumar also practices meditation.

    ***

    PK/GDH/RP

    Annexure

    Farewell speech of Sh Rajiv Kumar, the 25th Chief Election Commissioner on 17 Feb 2025

    Executive summary:

    Unwavering faith in democracy and the wisdom of close to a billion Indian voters is a guarantee that democratic values will only grow stronger. The commitment of 15 million polling personnel ensures free and fair elections, reinforcing public confidence in the system. Motivated and uncorroborated attacks on democratic institutions will not shake their trust, which is paramount and is a legacy built over 75 years. The increasing participation of women voters, surpassing male turnout in many states, marks a historic shift, strengthening democratic engagement. However, urban voter apathy remains a pressing concern despite outreach efforts. For a more inclusive electoral engagement, remote voting mechanisms for migrants and enabling NRIs to vote must be prioritized.

    Technology is transforming conduct of elections. Innovations like biometric authentication and the totalizer system will strengthen the process. AI can revolutionize conduct of elections, but safeguards against cyber threats and disinformation are crucial. Social media companies must introspect and act responsibly by not letting their algorithms propagate fake narratives. Media and social media platforms must ensure that truth prevails over misinformation.

    1. transparency in the functioning of political parties is essential. The Integrated Election Expenditure Management System has been a step forward, but mandatory e-compliance for political party funding and expenditure is necessary. Misuse of Registered Unrecognized Political Parties (RUPPs) for tax evasion must be curbed with vigilant monitoring. Political parties must ensure that promises in manifestos are backed by clear financial disclosures to prevent fiscal mismanagement and timely court order will facilitate.

    The Model Code of Conduct has upheld electoral fairness, ensuring responsible campaigning without restricting political debate. However, political parties must take accountability for their star campaigners’ rhetoric and strive for constructive, issue-based debates.

    The rising trend of misleading narratives during peak polling or counting hours is a deliberate attempt to distort facts and mislead voters. Casting doubt on outcomes after active and full participation in the process is undesirable. While the Commission exercises constitutional restraint, such tactics are better avoided in the interest of a mature democracy. The judiciary’s role in upholding electoral integrity remains vital. In the course of judicial proceedings, due consideration to election timelines must be maintained.

    India’s expertise in election management system is globally respected and is one of the biggest soft-power of the country. As the leadership transitions, the Election Commission remains committed to strengthening democracy through transparency, innovation, and inclusivity.

    As I bid farewell to this esteemed institution, which has been nothing short of a place of worship, I extend my deepest gratitude to all those who have been part of this incredible journey.

    First and foremost, my heartfelt thanks to the Indian voters, whose numbers have surged to almost a billion. Their unwavering faith in democracy has been the cornerstone of my strength. It is always inspiring to witness democracy in action, the strength of inclusivity and demographic diversity at the polling stations with diverse mosaic of electors including women, youngsters, PwDs, elderly voters, PVTGs, third genders, etc. This also reflects a profound message of hope in Indian democracy. The very essence of democracy lies in its inclusivity, ensuring that every voice, regardless of age, gender, or ability, is heard and valued.

    The sight of long voter queues in places like Jammu and Kashmir and Left-Wing Extremism-affected areas speaks volumes about the people’s faith in the electoral process.  A peaceful, violence free election in these regions is not just an achievement; it is a testament to the power of the vote in shaping the nation’s future, victory of ballot over bullet.

    Our voters are our biggest asset.  I salute the wisdom and maturity of our voters, who can discern truth from misinformation. Their awareness and commitment to democratic values reflect their readiness to shape a just and progressive future. I firmly believe that our voters’ wisdom and active engagement at all layers of democracy guarantee that our nation will prosper, democratic values will only grow stronger, designed and uncorroborated attacks on democratic institutions will not shake their trust. India will continue to create democratic surpluses for the democracy’s world over.

    I also want to convey my gratitude to the women voters who turned out in large numbers, surpassing male turnout in many states, and finally in 2024 Lok Sabha election as well. They have created a new chapter in electoral history, showcasing their vital role in shaping the future of this nation.

     I thank the young and first-time voters who came out to vote, as they are the future and the true ambassadors of our democracy.  Your participation is not just a right but a responsibility. It can bring change, build a better future, and make a real impact. Exercise your franchise wisely, for every vote contributes to a stronger democracy. It becomes an anxiety if you do not step forward.

    While the nation takes pride in conducting one of the largest elections in the world, the lack of voter participation in major urban center’s raises pressing concerns. The trend of urban voter apathy is highly disconcerting. The vibrant hustle of city life often masks a troubling silence at polling booths reflecting a democracy deficit in making. Despite massive outreach and better access to polling stations, facilities, and even scheduling of elections mid-week, urban voters often neglect their responsibility to vote. Continued engagement with urban voters is a must.

    A heartfelt gratitude to the vast family of polling personnel and security staff, the foot soldiers of the Election Commission of India. Their numbers surged to an incredible 15 million during the last Lok Sabha elections, yet their dedication to upholding democracy has never wavered. Their relentless efforts ensure the seamless conduct of elections, time and again. And I am confident that as long as our foot soldiers continue to perform their duties with transparency and impartiality, engaging political parties and the media at every step, no one can weaken the strong democracy of our country regardless of any insinuations that come their way.

    I extend my gratitude to my fellow Commissioners, past and present, whose wisdom and collaboration have enriched the Commission’s work. To my colleagues at Nirvachan Sadan and Chief Electoral Officers across states, your commitment has been instrumental in carrying forward the mission of free and fair elections. Conducting elections in the world’s largest democracy is no small task, and it has been an honor to work alongside such dedicated and selfless colleagues.

    Internationally, it has been an honour to engage with Election Management Bodies worldwide, exchanging ideas to strengthen democratic processes across borders. I was overwhelmed by the respect that India attracts in conduct of free, and fair elections in the largest democracy in the world and the expectations that global election management community has to learn from the Indian experience.

    Conducting elections in the world’s largest democracy is an immense responsibility, one that requires constant innovation and vigilance. As I pass the baton to my successors, leaving the commission in experienced and competent hands, I acknowledge the evolving challenges ahead. The future of elections will be shaped by a complex and multifaceted blend of technological advancements, voter engagement, influx of fake narratives and the balancing of transparency with privacy. The Election Commission has to remain steadfast in preserving the trust of voters while adapting to these new realities.

    The Model Code of Conduct has played a crucial role in maintaining a delicate balance between allowing robust political debate and ensuring responsible campaigning. While it has been leveraged effectively to uphold electoral fairness, we must remain mindful that any overreach could stifle genuine political expression, just as unchecked violations could undermine the sanctity of elections. The challenge ahead lies in carefully calibrating the MCC’s enforcement, ensuring it remains an effective tool for ethical campaigning without becoming an undue constraint on democratic expression. The Commission on many occasions in the past tread upon a fine line which required the balancing of proactive actions with constitutional wisdom and restraint in the interest of allowing for the fullest and vibrant electoral participation by parties and candidates alike, while not overrun the legal judicial process. Political Parties and their presidents must also take responsibility for the utterance of their star campaigners and leaders.

    Technology has been a powerful enabler in our electoral processes, helping refine voter rolls, streamline operations, and engage citizens more effectively. We are at the forefront of adopting technology in our electoral operations. The suite of more than 20 applications provides the perfect ecosystem for rolling the giant wheel of the electoral system from Registration to Results.

    ERONET is a web-based platform for Electoral officials, supporting 14 languages and 11 scripts to manage the country’s largest electoral database safely. It standardizes form processing, database structure, and E-Roll printing while automating voter registration, verification, and decision support. Used across all States/UTs, it ensures a seamless, integrated electoral roll management system on a national-level infrastructure. Using facial recognition software’s, our electoral rolls have been further purified.

    However, innovations like biometric authentication may further help prevent impersonation and multiple voting, ensuring that every vote belongs to the rightful voter. Additionally, emerging technologies hold great potential for more efficient management of movement of man and material, AI enabled capacity building modules, enhancing transparency and security in elections, etc.

    Presently in the system of counting of votes, the result is retrieved from each EVM, then the votes polled in respect of each candidate is totaled and result is declared. The demerit of this system of counting is that the candidates can know from where they have received how much vote. This leads to the problem of post-election violence, victimization and exclusion of the supporters of opposition parties from developmental activities. To address this, technologies like the totalizer, already developed by the Commission would ensure that the votes polled by each candidate- polling station wise is not disclosed. I believe that this matter should be explored, political consensus attempted and tested on a pilot basis to enhance voter secrecy and protect the integrity of the electoral process.

    The Election Commission has always worked to make elections more inclusive, ensuring that every voter can exercise their franchise. However, with nearly 300 million electors not engaging in the electoral process, due to reasons including migration- domestic and external, it is imperative to move forward with pilot programs for Remote Voting Mechanisms.  ECI has explored the option of using a modified version of the existing model of M3 EVMs to enable voting at remote polling stations i.e. polling stations outside home constituency, for domestic migrants. A Concept Note for on the matter of improving voter participation of domestic migrants using remote voting was also shared with all Recognized National and State Political Parties, ahead of all party consultation held on 16.01.2023. Efforts to build consensus among various stakeholders must continue to bring the ballot closer to those who cannot reach polling stations.

    India’s growing aspirations for its rightful place in world order, require to show deep commitment to Commission’s moto of “ No voter to be left behind”. It is right time to enable our Non-Resident Indians to vote from outside the country. Commission has developed necessary mechanisms required. The Government should take a final decision swiftly to enfranchise those who contribute significantly to our nation from afar.

    Financial transparency in elections remains a vital pillar of democratic integrity and level playing field. The introduction of the Integrated Election Expenditure Management System (IEMS) has been a significant step for an online compliance framework for financial reporting by political parties. However, as the compliance was voluntary, most of the major parties continue to use offline mode, despite IEMS being user friendly with lots of pre-populated data fields and facility to directly upload csv files. Therefore, Commission in future may consider bringing the full political party compliance and engagement ecosystem online and making e-compliance mandatory in future.

    Political parties must uphold transparency in both fundraising and expenditure. Certain RUPPs had become instruments for tax evasion by way of bogus donation rackets and thereby misused enabling provisions of the Income-tax Act and R.P. Act. The Commission while doing the massive verification exercise of RUPPs also verified the financial compliance status of RUPPs. The exercise not only resulted in delisting/ declaring inactive of non-compliant RUPPs, it also flagged the issue of misuse of exemption provision under the income-tax Act. CBDT, since then has been taking necessary enforcement actions to curb this misuse of RUPPs. However, as the RUPPs make their compliance before respective CEOs, the offices of CEOs need to be more sensitized towards various aspects of financial compliances by political parties. Transparency and accountability must remain at the heart of political financing reforms.

    The Commission remains steadfast in its commitment to addressing concerns surrounding unchecked freebies and overpromising manifestos. While the matter related to freebies is currently sub-judice, and I hope for a timely decision from the court, it is imperative in the interim that political promises are backed by clear disclosures on their financial viability and their effect on the fiscal health of the state.  We had also prescribed formats to ensure that political parties transparently display the financial implications of their promises against well-defined, quantifiable parameters like quantum of funds required to fulfill promise, availability of fiscal space, means to fulfill promise by cutting expenditure or augmenting revenue,  revenue deficit, fiscal deficit, requirement of any additional borrowings, impact on fiscal deficit, etc. to let voter know the feasibility of fulfilling the promise within the available State or Union financial space.

    Additionally, emerging technologies hold great potential for more efficient management of polling logistics and operation, AI-enabled capacity building modules and enhancing transparency and security in elections. AI can inter alia be leveraged to ensure that voter information, and voting instructions are available in multiple languages and that voting mechanisms are accessible to all voters.

    While the integration of AI and digital tools holds great promise, we must also guard against their misuse. The rise of cyber threats and disinformation campaigns necessitates stronger safeguards and strategic countermeasures. The unchecked use of bots, fake SM content, and AI-generated content during campaigns can distort public opinion and polarize societies. The Election Commission of India’s has recently issued advisory to political parties mandating the clear labeling of AI-generated content on social media. This is a significant step in the direction of protecting democratic discourse.

    Social media companies must introspect on their role in upholding free speech while ensuring it does not become a casualty of their own algorithmic shortcomings. The very freedom they champion should not be compromised by their failure to detect even the most obvious fake content. Timely detection and labeling of misinformation are crucial before it spreads unchecked.

    We have also seen many digital portals propagating misleading narratives and half-truths. While the Commission is generally restrained in reaction, I urge CEOs of various states to not only respond to such issues but also to preempt and actively dispel such notions.

    As a nation celebrating 75 years of its Republic, it is worth reflecting on the nature of election campaigns. A concerning trend has emerged in recent years, with political discourse increasingly becoming such that scars are left even after campaign period. This not only lowers the quality of debate but also risks disillusioning our youth with the electoral process. Should we not strive for a more constructive and dignified dialogue? Should political parties not focus on issue-based debates? Should political parties not take responsibility for encouraging youth participation through their campaigns? These are the questions political parties must introspect.

    I have observed a pattern in the timing of certain narratives. During peak polling or counting hours, a wave of fake allegations and rumors begins to spread across media and social media, misleading people and creating confusion. Narratives are deliberately set to distort facts. However, the Commission follows a policy of restraint, choosing not to respond while the election process is underway, ensuring that focus remains on the integrity and smooth conduct of the elections. The live reporting of hearing of the long pending cases at critical junctures, sometimes fuel distrust that the petitioner intends to create. It would be beneficial if such proceedings are scheduled with due consideration to the election period, ensuring that the electoral process remains smooth and undisturbed. This is a specific expectation of India’s esteemed constitutional Courts. I say this while recording my gratitude for the higher judiciary of the country which has consistently acted as the guardian spirit of India’s electoral process and system.

    The Commission, as an institution, often finds itself unfairly blamed by those unwilling to accept electoral outcomes. A pressing concern is the growing tendency to target election officials in the aftermath of electoral contests. It is perceived as a convenient scapegoat. All candidates and parties are involved in every stage of the process with utmost transparency. Having participated in each step, without raising objections or filing appeals during the process, then attempting to create doubt afterward is undesirable.  Dialogue should always be the preferred approach and while the Commission reacts with sagacity, stoicism and restraint, this is a disturbing trend and should be abandoned soon. 

    The media is playing a crucial role in ensuring transparency and accountability in the electoral process. All out efforts must continue to involve them at every stage of electoral cycle so that in the rush to break news first, misinformation and false narratives do not gain undue prominence. 

    India stands as a global beacon of democracy with one of the largest and most transparent election systems, India’s democratic framework has the quality to inspire nations worldwide and thus a soft power to be adequately leveraged.

    Lastly, as I step away, I do so know that the responsibility we carry is greater than of any one individual but is upheld by each of you every day. I hope the Commission continues to strengthen this great institution, uphold its values. I am confident that I am leaving Commission in more competent, committed and professional hands.

    Thank you, and my best wishes to all of you.

    *********

    (Release ID: 2104214) Visitor Counter : 33

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: MeitY to Launch Digital Brand Identity Manual (DBIM) Tomorrow Aiming to Achieve Uniform Look & Feel in Government Websites

    Source: Government of India

    MeitY to Launch Digital Brand Identity Manual (DBIM) Tomorrow Aiming to Achieve Uniform Look & Feel in Government Websites

    Manual Defines citizen-friendly User Experience by Harmonizing  Visual & Voice Identities for an Enhanced National & Global Digital Footprint of Gov.In Domain

    MeitY to Organise First Chief Information Commissioners(CIO) Conference 2025

    Posted On: 17 FEB 2025 7:25PM by PIB Delhi

    Ministry of Electronics and Information Technology (MeitY) is set to release the Digital Brand Identity Manual (DBIM) tomorrow as part of its efforts to bring uniformity across government websites and digital platforms. The DBIM defines key elements of a consistent digital identity, including visual identities such as logos, color palettes, typography, and imagery, as well as verbal identities like brand voice, messaging frameworks, and taglines. These guidelines aim to enhance citizen engagement and improve the overall user experience in service delivery.

    As part of the Gov.In: Harmonisation of Government of India’s Digital Footprint initiative, the DBIM seeks to establish a standardized and seamless digital presence across government ministries, departments, and agencies. This initiative aligns with the vision of Prime Minister Narendra Modi to transform governance through technology, ensuring accessibility, efficiency, and a more citizen-friendly digital experience.

    The primary objective of the DBIM is to create a unified and consistent digital brand for the Government of India. By standardizing elements such as color palettes, typography, and iconography, the manual not only ensures uniformity in look and feel but also strengthens the integrity of government-hosted data. This cohesive approach will enable government departments to present a compelling and trustworthy brand presence, both nationally and globally. The guidelines extend beyond websites to cover mobile applications and social media platforms, reinforcing a seamless user experience across all digital touchpoints.

    To mark this milestone, the launch of the Digital Brand Identity Manual (DBIM) and the First CIO Conference 2025 will be held on 18th February 2025 at Taj Palace, New Delhi. The event will be graced by key stakeholders, including representatives from MeitY, NIC, MyGov, and other government ministries. Shri Jitin Prasada, Union Minister of State for Electronics and Information Technology and Commerce & Industry, will officially launch the DBIM, introducing the framework for a unified digital identity across government platforms.

    Key Components of the Initiative

    The harmonisation initiative is built on the following key elements:

    • Digital Brand Identity Manual (DBIM): A comprehensive guide to ensure visual and functional consistency across government websites.
    • DBIM Toolkit: A set of tools enabling seamless adoption of DBIM.
    • GOV.IN CMS Platform: A standardized content management system tailored for DBIM Compliant websites and applications.
    • Central Content Publishing System: A streamlined mechanism for centralized content updates.
    • Social Media Integration: A unified approach to social media branding and digital outreach.

     

    Planned Activities at the Event

    The event will serve as a platform to discuss the roadmap for the adoption of DBIM across government websites and applications. Key highlights include:

    • Release of the Digital Brand Identity Manual (DBIM)
    • Launch of the DBIM-Compliant MeitY Website
    • Comprehensive discussions on harmonisation components
    • Capacity-building sessions for Chief Information Officers (CIOs)

     

    This initiative is led by the Ministry of Electronics and Information Technology: Digital Governance Division and National Informatics Centre. To explore various government digital services and platforms, visit www.nic.in

    ****

    Dharmendra Tewari/Shatrunjay Kumar

    (Release ID: 2104185) Visitor Counter : 99

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Pradhan Mantri Fasal Bima Yojana turns Nine

    Source: Government of India (2)

    Pradhan Mantri Fasal Bima Yojana turns Nine

    Empowering Annadata & Protecting Livelihoods

    Posted On: 17 FEB 2025 6:55PM by PIB Delhi

    Introduction

    On February 18, 2025, Pradhan Mantri Fasal Bima Yojana marks its nine-year anniversary, celebrating close to a decade of empowering the farmers of India. Launched in 2016 by Prime Minister Shri Narendra Modi, the scheme offers a comprehensive shield against crop losses caused by unpredictable natural hazards. This protection not only stabilizes farmers’ income but also encourages them to adopt innovative practices.

    Crop insurance is an important risk mitigation tool to protect farmers from natural calamities. It aims at providing financial support to farmers suffering crop loss/damage arising out of natural calamities like hailstorm, drought, floods, cyclones, heavy and unseasonal rains, attack of disease and pests etc.

    Witnessing the success and potential of the scheme, the Union Cabinet in January 2025 approved the continuation of Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26 with a total budget of ₹69,515.71 crore.

    Restructured Weather Based Crop Insurance Scheme (RWBCIS) is a weather index-based scheme, which was introduced along with PMFBY. The basic difference between the PMFBY and RWBCIS is in its methodology for calculation of admissible claims to the farmers.

    Technological Advancements

    • Pradhan Mantri Fasal Bima Yojana (PMFBY) envisages use of improved technology including satellite imagery, drones, Unmanned Aerial Vehicle (UAV) and remote sensing.
    • This is for various applications such as crop area estimation and yield disputes and also promote the use of remote sensing and other related technology for Crop Cutting Experiments (CCEs) planning, yield estimation, loss assessment, assessment of prevented sowing areas and clustering of districts.
    • This enables more transparency, accountability and accuracy in loss assessment and timely payment of claims.
    • Capturing crop yield data/Crop Cutting Experiments (CCEs) via the CCE-Agri App for direct upload to the National Crop Insurance Portal (NCIP), allowing insurance companies to witness the conduct of CCEs, and integrating state land records with the NCIP.
    • Further, for timely and transparent loss assessment as well as timely settlement of admissible claims YES-TECH (Yield Estimation System Based on Technology) has been introduced from Kharif 2023 after discussions with stakeholders and technical consultations. YES-TECH enables large scale adoption of technology-based yield estimates for yield loss and insurance claim assessments under PMFBY. The purpose is to blend the technology-based yield estimates with manual yield estimates and reduce the dependence on manual system gradually.

    Key Benefits

    • Affordable Premiums: The maximum premium payable by the farmer will be 2% for the Kharif food and oilseed crops. For rabi food and oilseeds crop, it is 1.5% and for yearly commercial or horticultural crops it will be 5%. The remaining premium is subsidized by the government.
    • Comprehensive Coverage: The scheme covers natural disasters (droughts, floods), pests, and diseases, along with post-harvest losses due to local risks like hailstorms and landslides.
    • Timely Compensation: PMFBY aims to process claims within two months of the harvest to ensure that farmers get the compensation quickly, preventing them from falling into debt traps.
    • Technology-Driven Implementation: PMFBY integrates advanced technologies like satellite imaging, drones, and mobile apps for precise estimation of crop loss, ensuring accurate claim settlements.

     

    Risks Covered

    • Yield Losses (Standing Crops): The Government provides this insurance coverage for yield losses that fall under the non-preventable risks such as Natural Fire and Lightning, Storm, Hailstorm, Tornado, Flood, Inundation and Landslide, Pests/ Diseases, Drought etc.
    • Prevented Sowing: Cases may arise where most of the farmers (insured) of notified areas may want to plant or sow. In such cases, they have to bear the expenditure for that cause and are restricted from planting or sowing insured crops because of unfavourable weather conditions. These farmers will then become eligible for the indemnity claims of up to a maximum of 25% of the sum insured.
    • Post-harvest Losses: The Government provides for post-harvest losses on an individual farm basis. The Government offers coverage of up to 14 days (maximum) from harvesting for crops that are stored in “cut and spread” condition.
    • Localised Calamities: The Government provides for localised calamities on an individual farm basis. Risks such as loss or damage arising from identified localised hazards, such as hailstorms, landslides, and inundation impacting separated farmlands in the notified area comes under this coverage.

    Strengthening the Pradhan Mantri Fasal Bima Yojana

    The Government has made several interventions for ensuring better transparency, accountability, timely payment of claims to the farmers since its launch in 2016. As a result of which, the area and farmers covered under the scheme in 2023-24 are at all-time high. The scheme is now the largest in the world in terms of farmer applications. Some States have further waived off farmer’s share of premium due to which there is very less burden on the farmers.

    Eligibility

     

    Though the scheme is voluntary for farmers, non-loanee farmers’ coverage has increased to 55% of the total coverage under the scheme during 2023-24, which shows the voluntary acceptability/popularity of the scheme.

    Application Process

    https://sansad.in/getFile/loksabhaquestions/annex/184/AU269_UCTI1z.pdf?source=pqals

    Conclusion

    Over the past nine years, the Pradhan Mantri Fasal Bima Yojana (PMFBY) has transformed Indian agriculture by providing farmers with a comprehensive safety net against crop losses due to natural calamities. By leveraging advanced technology, the scheme has improved transparency, accuracy, and efficiency in crop loss assessment and claim settlement. With affordable premiums and extensive risk coverage—including yield losses, post-harvest losses, and localised calamities—the scheme has become a crucial support system for farmers, ensuring timely compensation and stabilizing their income. The increased voluntary participation, particularly among non-loanee farmers, highlights the growing trust and acceptance of the scheme. As the PMFBY moves into its next phase, it continues to empower farmers and strengthen India’s agricultural resilience.

    References:

    Kindlly find the pdf file 

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    Santosh Kumar/ Sarla Meena/ Ritu Kataria/ Kritika Rane

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