NewzIntel.com

Category: Business

  • MIL-OSI China: 3 Israeli hostages, 369 Palestinian prisoners to be released Saturday

    Source: China State Council Information Office

    Relatives of a released hostage hug each other when a helicopter carrying the hostage arrives at a medical center in Ramat Gan, Israel, on Feb. 8, 2025. Israel and Hamas on Saturday (Feb. 8) completed the fifth prisoner-for-hostage swap under the first phase of the ongoing Gaza ceasefire agreement, according to Israeli and Palestinian sources. (Photo by Gil Cohen Magen/Xinhua)

    Israel confirmed Friday that it has received a list of three hostages set to be released on Saturday from Hamas captivity in the Gaza Strip.

    Israeli Prime Minister Benjamin Netanyahu’s office initially stated that the list was “acceptable by Israel,” but a spokesman for Netanyahu later backtracked, clarifying that Israel had only received the list. “This is a purely factual description and does not reflect any Israeli position on the matter,” the spokesman said.

    The list was delivered to Israel via Qatari and Egyptian mediators.

    According to a statement from Al-Qassam Brigades, the military wing of Hamas, the hostages are Alexander (Sasha) Troufanov, a 29-year-old Israeli-Russian civilian; Sagui Dekel-Chen, a 36-year-old Israeli-American civilian; and Yair Horn, a 46-year-old Israeli.

    Meanwhile, Israeli army radio reported that 369 Palestinian prisoners will be released on Saturday. Among them, 333 will be returned to Gaza, with 10 others sent back to their homes in the West Bank and one released in East Jerusalem, while the remaining 25 of the prisoners sentenced for life will either be deported to Gaza or sent abroad via Egypt, said the report.

    This will mark the sixth batch of prisoner-for-hostage exchanges between Israel and Hamas under the ceasefire agreement that took effect on Jan. 19.

    The anticipated release comes amid heightened tensions after U.S. President Donald Trump warned that if “all of the hostages” in Gaza were not freed by Saturday at noon, the truce would be canceled, and he would “let hell break out.” Netanyahu and Israeli Defense Minister Israel Katz echoed the warning, saying Israel would resume its onslaught on Gaza.

    Hamas announced on Monday that it would delay the hostage release scheduled for Saturday, citing Israeli violations of the agreement and demanding Israel reaffirm its commitment to maintaining the ceasefire. On Thursday, the movement confirmed that it would continue implementing the ceasefire agreement, including the exchange of Palestinian prisoners and Israeli hostages as initially scheduled.

    MIL OSI China News –

  • MIL-OSI New Zealand: Africa – Over 67 million screenings – AstraZeneca’s ‘Healthy Heart Africa’ celebrates 10 years of transforming Noncommunicable Disease (NCD) care

    SOURCE: AstraZeneca

    HHA aims to improve access to timely diagnosis and treatment, reducing the burden of this disease across communities.

    KAMPALA, Uganda, February 14, 2025/ — AstraZeneca’s (www.AstraZeneca.com) flagship health equity programme – Healthy Heart Africa (HHA), marks its 10th anniversary, celebrating successfully taking over 67 million blood pressure screenings and a decade of action against non-communicable diseases across Africa.

    Hypertension is a leading risk factor for cardiovascular diseases and accounts for a significant portion of noncommunicable disease (NCD) deaths globally. In Africa, over 27% of adults live with hypertension[1], far above the global average.

    Since its launch, HHA has conducted over 67 million blood pressure screenings, trained over 11,700 healthcare workers, and activated over 1,550 healthcare facilities across nine African countries in Kenya, Ethiopia, Ghana, Uganda, Côte d’Ivoire, Senegal, Rwanda, Nigeria and Tanzania including the Island of Zanzibar. These efforts have significantly improved access to hypertension diagnosis and treatment, saving countless lives.

    Ruud Dobber, Executive Vice President and President, BioPharmaceuticals Business Unit, AstraZeneca, said: “Healthy Heart Africa epitomises AstraZeneca’s commitment to equitable healthcare. In a decade, we’ve empowered millions to manage their heart health. Now, we’ve expanded to tackle chronic kidney disease, ensuring greater resilience in health systems across the continent.”

    The programme has started addressing chronic kidney disease (CKD), which is closely linked to hypertension and affects 15.8% of Africans.[2] Early detection and management are critical, as CKD often progress silently. HHA aims to improve access to timely diagnosis and treatment, reducing the burden of this disease across communities.

    This commemoration sets the stage for the upcoming World Health Organization’s High-Level Meeting on NCDs[3], reinforcing the urgency of collective action. One facet of the programme’s success is built on strong partnerships with governments, NGOs, and community leaders to deliver culturally tailored interventions.

    Helen McGuire, Global Program Leader, PATH, added:

    “Working on the Healthy Heart Africa (HHA) programme with AstraZeneca has been truly transformative. Seeing the scale-up and institutionalisation of integrated and expanded NCD services, particularly in countries like Ghana, has been immensely rewarding. The introduction of NCD indicators into national health information systems represents a major milestone, enabling better planning, resource allocation, and outcome monitoring.”

    Ministries of Health across Africa have championed HHA’s integration of hypertension care into national policies, ensuring sustainability and local ownership.

    Permanent Secretary Uganda Ministry of Health, Dr Diana Atwine Kanzira, said:

    “In Uganda, our partnership with Healthy Heart Africa has been instrumental in strengthening our response to non-communicable diseases (NCDs), now a major health challenge across Africa. Through this collaboration, we have raised awareness on risk factors, enhanced early detection, linked patients to care, and built the capacity of healthcare workers. By integrating hypertension data into our national health system and advancing digitalization, we are ensuring a seamless patient pathway, enabling progress tracking, and delivering life-saving care to our people.”

    With its proven model – the Healthy Heart Africa programme aims to expand to new regions, integrating climate-resilient healthcare solutions and prioritising early detection to prevent disease progression. Through such innovative partnerships, the programme aims to deliver care to those most in need.

    To read more about this programme, please read our Impact Report here Link (https://apo-opa.co/3QpqSJf).

    ________________________________
    [1] https://apo-opa.co/41gyyny.

    [2] https://apo-opa.co/4b7QzaX

    [3] https://apo-opa.co/4jRojxr

    AstraZeneca Data on File: Total Programme Numbers Since Start in 2014 to the end of December 2024

    More about:
    Path
    PATH is an international non-governmental organisation dedicated to improving health outcomes for vulnerable populations worldwide. Through innovation, partnerships, and a commitment to equity, PATH tackles pressing global health challenges, including non-communicable diseases, maternal and child health, and infectious diseases. Learn more at www.Path.org.

    AstraZeneca
    AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries, and its innovative medicines are used by millions of patients worldwide. Please visit AstraZeneca.com and follow the Company on Twitter @AstraZeneca.

    References

    [1] https://apo-opa.co/41gyyny.

    [2] https://apo-opa.co/4b7QzaX

    [3] https://apo-opa.co/4jRojxr

    AstraZeneca Data on File: Total Programme Numbers Since Start in 2014 to the end of December 2024.

    MIL OSI New Zealand News –

  • MIL-OSI Submissions: Business – New location in Phoenix: Gebrüder Weiss continues to expand in the southwestern United States

    Source: Gebrüder Weiss

    Cross-border transport: The new branch in Arizona complements the existing Gebrüder Weiss locations in Texas near the Mexican border. Today, the logistics company has 17 of its own locations in the North America region.

    Phoenix / Lauterach, February 14, 2025. The global transport and logistics company Gebrüder Weiss has announced the opening of a new location in Phoenix, Arizona, as part of its continued growth in the United States. This new facility will provide air and sea freight transport services including customs clearance and partial and full-load land transport.

    The logistics company continues to expand its activities in North America, in particular to meet the demand for trade between the US and Mexico. Arizona is the most important state for transport to and from Mexico, while Phoenix itself is becoming increasingly important as a central transhipment point for trade across the southern border of the US. In 2023, nearly 20 billion USD worth of cargo moved between Arizona and Mexico. Phoenix complements Gebrüder Weiss’ existing Texas locations in El Paso and Laredo, which specialize in the cross-border transport of goods to and from Mexico.

    “Our logistics services in Phoenix are a further building block in the development of Gebrüder Weiss and strengthen our position in this economically strong region. This allows us to offer our customers greater flexibility in their transports and more reliable supply chains,” says Mark McCullough, Country Manager of Gebrüder Weiss North America.

    Gebrüder Weiss has continuously expanded its presence in North America in recent years and now operates a network of 17 locations. In addition to Phoenix, the company recently opened a logistics terminal in Elgin, Illinois, as well as branches in Miami, Florida, Denver, Colorado and Dallas, Texas. In Salt Lake City, the company acquired the local freight forwarder Cargo-Link in 2024.

    For more information about Gebrüder Weiss USA, its services, and locations, please visit gw-world.com/us.

    Phoenix Arizona

    Mark McCullough

    Locations USA

    About Gebrüder Weiss

    Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,600 employees at 180 company-owned locations. The company generated revenues of 2.46 billion euros in 2023. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. www.gw-world.com

    MIL OSI – Submitted News –

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Establishes the National Energy Dominance Council

    Source: The White House

    POSITIONING AMERICAN ENERGY FOR THE NEXT CENTURY: Today, President Donald J. Trump signed an Executive Order establishing the National Energy Dominance Council.

    • The National Energy Dominance Council will be established within the Executive Office of the President, chaired by the Secretary of the Interior Doug Burgum and vice-chaired by the Secretary of Energy Chris Wright, and comprised of members of President Trump’s cabinet and key government agencies.
    • The Council will advise President Trump on strategies to achieve energy dominance by improving the processes for permitting, production, generation, distribution, regulation, and transportation across all forms of American energy.
    • It will recommend a National Energy Dominance Strategy to the President aimed at cutting red tape, enhancing private sector investments, and advancing innovation.
    • The Council will facilitate cooperation between the federal government and domestic energy partners, ensuring policy consistency.
    • It will also consult with various public and private sector stakeholders to expand energy production and address cost barriers.

    LOWERING PRICES AND STRENGTHENING AMERICAN ECONOMIC SECURITY: Championing domestic energy production is vital both for mitigating price shocks to American families and de-risking the energy supply chain for our Nation as well as our allies.

    • American energy dominance is the most reliable way to ensure the stability and affordability of American energy prices.
      • Gasoline prices, as well as overall household energy prices, increased 30% under President Biden.
      • The Biden-Harris Administration dramatically slowed the growth rate of American energy production and development, including by instituting a federal oil leasing moratorium, increasing energy permitting times by multiples of what they had been under President Trump, and removing hundreds of million acres from being available for energy production.
      • Over the last four years, it is estimated that our Nation produced over two billion fewer barrels of oil than anticipated by trend (had President Trump’s energy policies been kept intact), a vast quantity of lost supply that could have lessened the burden of energy prices on American families.
    • Developing American energy resources will enable our Nation to reduce its reliance on foreign entities, including strategic adversaries.
      • While creating policies to restrict American production, the Biden Administration asked OPEC+ to increase production to meet American energy demand.
      • As energy prices rose, the Biden Administration was reluctant to enforce American oil sanctions on rogue regimes, allowing Iran to export over one million barrels of oil per day through lax enforcement (up from a low of approximately 70,000 under the Trump administration) and temporarily lifting oil sanctions altogether on the Maduro regime in Venezuela.
      • The United States is also highly dependent on China for a range of critical minerals, which has put our Nation’s supply chain at risk, as exemplified by China’s recent weaponization of its resources through bans on exporting germanium, gallium, and antimony to the United States.
      • As our Nation makes rapid advancements in next generation technologies, such as artificial intelligence (along with the associated data centers), and energy demand rises, it will be all the more important to expand domestic energy supply.
    • American energy leadership is vital not only for our Nation’s economic and national security, but also for the security of our allies.
      • America’s liquefied natural gas (LNG) industry has played a critical role in helping Europe reduce its dependence on Russian energy, with LNG exports to Europe rising 141% in 2022, and continuing to increase to fill the gap.
      • President Trump warned Western Europe as early as 2017 to rely on American natural gas rather than Russian energy.

    RESTORING AMERICAN ENERGY DOMINANCE: President Trump has a demonstrated track record of empowering American energy production, and will return our Nation to energy dominance.

    • During President Trump’s first term, our Nation became a net exporter of energy for the first time in nearly 70 years and transformed into the world’s leading oil producer.
    • President Trump expedited the LNG export license process (achieving licensing times one-sixth as long as those seen during the Biden Administration, which revoked these reforms), reduced the permitting time for drilling on federal lands (increasing permit applications by 300%), fixed the New Source Review (which punished companies for repairing and upgrading coal power plants), and opened up millions of acres for domestic energy development.
    • Under President Trump’s leadership, American families saved an average of $2,500 per year in utility and gas costs, while the economy at large saw the creation of new American energy jobs.

    MIL OSI USA News –

  • MIL-OSI Security: Indiana man sentenced to prison for conspiracy to violate the Clean Air Act

    Source: Office of United States Attorneys

    Defendant’s company took in more than $4 Million remotely deleting pollution control software on diesel trucks

    Tacoma – A 44-year-old Columbia, Indiana man was sentenced today in U.S. District Court in Tacoma to four months in prison and a $25,000 fine for conspiracy to violate the Clean Air Act for his scheme to interfere with pollution control software on diesel trucks, announced Acting U.S. Attorney Teal Luthy Miller. Jonathan Achtemeier pleaded guilty in November 2024, admitting that between 2019 and 2022, he tampered with the monitoring devices on hundreds of vehicles nationwide so those trucks would not detect that their owners removed pollution control hardware systems. Achtemeier advertised his services on the internet and was able to tamper with the monitoring devices in diesel trucks remotely. Between 2019 and 2021 Achtemeier’s company grossed $4.3 million. At sentencing U.S. District Judge Tiffany M. Cartwright said, “This offense is characterized as a lack of respect for the law and a flaunting of the law…. The harm that comes from this type of offense is serious.”

    “From the comfort of his home, this defendant caused environmental damage across the country, tampering with pollution controls on diesel trucks so that they spewed 30 to 1200 times the pollutants of a legally configured truck,” said Acting U. S. Attorney Teal Luthy Miller. “His motivation was money – but the rest of us will pay the price with dirty air and contamination in our soil and waterways.”

    According to records filed in the case, Achtemeier conspired with mechanics in garages and operators of truck fleets to manipulate the monitoring software installed on diesel trucks. Coconspirators who wanted to disable their trucks’ pollution control hardware system—a process commonly known as “deleting”—sought Achtemeier’s help to trick the truck’s software into believing the emissions control systems were still functional, a process known as “tuning.” Monitoring devices on a deleted truck will detect that the pollution control hardware is not functioning and will prevent the truck from running. Achtemeier disabled the monitoring software on his client’s trucks by connecting to laptops he had provided to various coconspirators. Some of the coconspirators would pass the laptop on to others seeking to have the anti-pollution parameters disabled or modified on their trucks. Once the laptop was hooked up to the truck’s onboard computer, Achtemeier could access it from his computer and tune the computer designed to monitor the pollution control equipment.  Achtemeier could “tune” trucks remotely, which enabled him to maximize his environmental impact and personal profit.

    Removing the pollution control equipment and disabling the monitoring device results in trucks polluting at 30 to 1,200 times the level of a truck with pollution control systems.  Tampering with a monitoring device is a violation of the Clean Air Act.

    Achtemeier charged as much at $4,500 per truck for work that often took him two hours or less. Achtemeier advertised his services on social media nationwide using images of semi-trucks spewing black exhaust. His company operated under the name Voided Warranty Tuning (VWT) or Optimized Ag.

    In their request for an 18-month prison sentence and $100,000 fine, prosecutors wrote to the court, “Achtemeier spent years building a business dedicated to illegal tuning. He advertised his services on diesel-focused Facebook groups like West Coast Trucking where he had access to thousands of truck owners and enthusiasts.  He encouraged customers to pass along his name and even provided them computers so they could help friends and neighbors delete their vehicles and use Achtemeier for tuning. This enabled him to quickly grow his business into a multi-million-dollar enterprise.”

    The coconspirators in this case have service garages or truck fleets in various areas of Washington State. The trucks that were altered range from pick-ups such as a Dodge R3500 to Kenworth and Freightliner semi-trucks.

    The case was investigated by the Environmental Protection Agency Criminal Investigation Division (EPA-CID).

    The case is being prosecuted by Assistant United States Attorneys Lauren Watts Staniar and Dane Westermeyer, with Special Assistant United States Attorney Karla Perrin.  Ms. Perrin is an attorney with the EPA.

    MIL Security OSI –

  • MIL-OSI China: John Lee hails vital role of Chinese mainland companies in Hong Kong

    Source: China State Council Information Office

    Chinese mainland enterprises constitute an important force driving Hong Kong’s economic development, John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), said on Friday.

    Addressing a spring reception held by the Hong Kong Chinese Enterprise Association, Lee noted that the number of companies in Hong Kong with overseas or Chinese mainland parent companies climbed to a historic 9,960 in 2024. Of these, 2,620 enterprises came from the Chinese mainland, accounting for over 26 percent, making it the largest source of non-local companies based in Hong Kong.

    Lee emphasized that this demonstrates the strength of Chinese mainland enterprises and their positive role in Hong Kong’s economic development, expressing hope that these enterprises will continue to support and participate in the development of the Northern Metropolis.

    Zheng Yanxiong, director of the Liaison Office of the Central People’s Government in the HKSAR, said he hopes Chinese mainland enterprises will make good use of Hong Kong’s unique advantages, continuously expand their investment in Hong Kong, optimize their business layouts, actively participate in the construction of the Northern Metropolis, and fully support Hong Kong in consolidating its status as a financial, shipping, and trade center, as well as in building an international innovation and technology center, thereby helping Hong Kong integrate better into the overall national development.

    MIL OSI China News –

  • MIL-OSI China: What China’s record-breaking film reveals about its economic vigor

    Source: China State Council Information Office

    This photo taken on Feb. 13, 2025 shows a poster for the Chinese animated film “Ne Zha 2” at a cinema in Chaoyang District of Beijing, capital of China. [Photo/Xinhua]

    As the credits rolled on “Ne Zha 2” in a packed cinema, Zhou Jianmin, CEO of Zhejiang Huaguoshan Cultural Media, felt a surge of pride, perfectly articulating it with, “Seeing our team’s names on the screen made every hardship of the past year worthwhile.”

    “This film proves that China’s animation industry can rival global giants in both storytelling and technical prowess,” Zhou added.

    The Chinese New Year blockbuster reached a milestone on Thursday, with ticket sales hitting 10 billion yuan (about 1.39 billion U.S. dollars), making it the first animated film in global cinema history to achieve this in a single market.

    Beyond its cinematic success, the film’s ripple effects on tourism, retail, and capital markets provide a glimpse into China’s evolving economic dynamism.

    SMALL PLAYERS POWERING A BLOCKBUSTER

    According to data provided by the film’s creative team, “Ne Zha 2” featured nearly 2,000 visual effect shots, an impossible scale for a single studio to handle.

    This herculean task was achieved through a production network comprising 138 companies, with over 80 percent, or 115 firms, being small and medium enterprises (SMEs) scattered across tech hubs like Beijing, Chengdu, Suzhou, and Shenzhen.

    These firms handled multiple production stages including animation development, visual effects compositing, and art design — tasks that are often outsourced overseas by Hollywood studios.

    Chengdu-based animation studio Yunhai Tianju, for instance, dedicated about 30 employees to work onsite with lead animator Chengdu Coco Cartoon Co., Ltd. for over two years. “‘Ne Zha 2’ brought together top talents from across the country, elevating the film and television industry,” said Han Yunlong, general manager of the studio.

    “Through dynamic exchanges and technical collaboration among professionals, national industry standards are continuously being raised,” Han added.

    Meanwhile, industry titans like Enlight Media, the film’s major producer, streamlined funding and distribution, triggering a 264 percent stock surge within just eight trading days after release.

    The model mirrors China’s animation industry playbook: SMEs inject niche expertise and cost efficiency, while conglomerates scale output. “The collaboration of outstanding animation companies nationwide is like the ‘wanlinjia,’ or armor of 10,000 scales, of the animation industry,” said Shi Chaoqun, the film’s visual effects director.

    FROM SILVER SCREEN TO TOURIST TRAILS

    Beyond theaters, the film’s success has sent ripples through China’s cultural tourism market. Cities tied to Ne Zha’s legend are racing to transform cinematic buzz into economic gains, introducing innovative tourism products centered on the mythical figure.

    Tourism platform Tongcheng reported a fivefold spike in searches for “Ne Zha-themed trips.” In Sichuan’s Yibin, home to ancient temples honoring the mythical hero, visitors flocked to newly launched attractions like the “Dragon Palace” experience and themed events, driving a 34 percent jump in hotel bookings in Yibin’s Cuiping district.

    Tianjin, meanwhile, leaned into its claim as Ne Zha’s “hometown,” blending the deity’s lore with local landmarks.

    “Cultural and tourism consumption is a key driver of service-based spending,” said Zeng Guang, assistant director of the Economic Research Institute at Guosen Securities.

    He noted that the growth rate of service consumption, led by tourism, will likely outpace the overall economic growth rate.

    MERCHANDISING GOLD RUSH

    On top of tourism heat, Ne Zha merchandise, from toys to limited-edition figurines, is flying off shelves. Hunan Sunny&Sandy Toys Manufacturer Co., Ltd., holding the exclusive license of 3D plastic candy toys for the movie “Ne Zha 2,” saw its cumulative sales for Ne Zha figurines on online and offline platforms top 200 million yuan since Jan. 31.

    To cater to the surge in market demand, the company had to adjust its production schedule, recalling over 500 employees to return to work during the Spring Festival, said Yang Zhenlin, assistant to the president of Sunny&Sandy.

    Currently, with nearly 60 production lines operating simultaneously, the firm’s monthly production capacity for Ne Zha-themed products has reached 6 to 8 million units.

    The craze reflects China’s consumption upgrade, where fans splurge beyond tickets. “Many consumers have commented on social media and livestream platforms that they loved our products,” Yang said.

    The historic box office success demonstrates both the enhanced global competitiveness of China’s domestic animation industry, and the pivotal role played by the rise of China-chic cultural trends, Yang added.

    MIL OSI China News –

  • MIL-OSI China: Hong Kong stocks rally on AI-spurred tech firm boom

    Source: China State Council Information Office

    A stock code is seen at the trading hall of Hong Kong Exchanges and Clearing Limited (HKEX) in Hong Kong, south China, June 11, 2020. [Photo/Xinhua]

    Hong Kong’s stock market rallied on Friday with the benchmark Hang Seng Index up 3.69 percent to 22,620.33 points, capping the fifth consecutive week of gains as investors gravitate towards Hong Kong-listed mainland tech firms.

    The Hang Seng China Enterprises Index jumped 4.11 percent to 8,331.4 points on Friday, and the Hang Seng Tech Index soared 5.56 percent to 5,526.22 points.

    The Hang Seng Tech Index, comprising shares of Chinese tech heavyweights like Tencent, Alibaba and Xiaomi, hiked 7.3 percent within this week and 29.7 percent from five weeks ago.

    China’s recent breakthroughs in generative AI spearheaded by the startup DeepSeek renewed investor confidence in Chinese tech stocks, analysts say. DeepSeek-R1, a model released in January, is said to have achieved performance comparable to leading AI systems, such as OpenAI’s ChatGPT, but at a fraction of the development cost.

    The vast majority of Hong Kong-listed mainland tech firms saw shares rise on Friday, attesting to the across-the-board benefits AI tools are expected to generate.

    The E-commerce, consumer electronics, semiconductors and automotive industries are in line for capacity and revenue boosts when they embrace AI, wrote Ma Lei, chief investment officer of the Chinese mainland and Hong Kong of Invesco, in a research note.

    Development of self-driving technologies and humanoid robots could also be supercharged, Ma added. Both are among the most-watched frontiers — Chinese electric vehicle maker BYD on Monday unveiled its advanced driver-assistance system to be installed on 21 models, while robots doing handkerchief-spinning dances at the nationally televised Spring Festival Gala are still trending unabated on social media.

    DeepSeek is likely to initiate a new cycle of innovation for Chinese firms in sectors including cloud services, computing chips and consumer Apps, according to a research note from Huatai Securities.

    A slew of firms announced this week that they incorporated DeepSeek models into their services. Zhihu rolled out a new online query platform based on the R1 model on Wednesday, and education company Xueersi introduced an R1-facilitated App on Friday to tutor K-12 students.

    Optimism prevails about Hong Kong’s stock market outlook in 2025. At the 2025 spring reception of Hong Kong’s financial services sector held on Thursday, Financial Secretary of the Hong Kong Special Administrative Region government Paul Chan said he consulted several AI models, all of which confirmed his notion that technology will add tailwinds for the stock market this year.

    Chan said that the Hong Kong Exchanges and Clearing Limited received dozens of new listing applications in January, and he believed that more good companies will enter the stock market this year.

    Additionally, international investors in the Hong Kong market remained active and well-funded, which will further enhance the liquidity of Hong Kong stocks, he said.

    MIL OSI China News –

  • MIL-OSI China: Thai police arrest 10 suspects in case involving Chinese actor

    Source: China State Council Information Office

    Authorities in Thailand have arrested 10 Chinese suspects in connection with the case involving Chinese actor Wang Xing and have handed them over to the immigration department for repatriation to China, the Thai police said on Friday.

    According to a statement released by the Thai police, investigations found that the 10 arrested suspects belonged to a criminal gang that had long been conducting telecommunications fraud targeting Chinese citizens in Myawaddy, Myanmar.

    They were suspected of pretending to be employees of an entertainment company in Thailand to defraud Wang Xing. After Wang’s rescue, they planned to flee to Cambodia via Thailand, but were arrested in various places in Thailand and accused of illegal entry.

    Thatchai Pitaneelaboot, senior inspector general of the Thai police, has instructed that the 10 suspects be handed over to the Thai Immigration Bureau for repatriation to China.

    Wang Xing, a Chinese actor, entered Thailand on Jan. 3 but lost contact near the Thailand-Myanmar border. The Thai police tracked his movements and successfully rescued him on Jan. 7, identifying him as a victim of human trafficking. He has departed from Thailand for China on the night of Jan. 10 following collaborative efforts from both countries, as confirmed by the Chinese embassy in Thailand.

    MIL OSI China News –

  • MIL-OSI China: China ready to work with Spain for more tangible results in bilateral ties: FM

    Source: China State Council Information Office

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with his Spanish counterpart Jose Manuel Albares Bueno on the sidelines of the ongoing Munich Security Conference in Munich, Germany, Feb. 14, 2025. (Xinhua/Zhang Fan)

    China is ready to work with Spain to implement the important consensus reached by the leaders of the two countries and achieve more tangible results in bilateral relations, Chinese Foreign Minister Wang Yi said on Friday.

    This will benefit both economies and improve people’s livelihoods while injecting more stability into China-Europe relations, Wang said. He made the remarks during a meeting with his Spanish counterpart Jose Manuel Albares Bueno on the sidelines of the ongoing Munich Security Conference.

    Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said the development of China-Spain relations has seen many highlights, with close interactions between their leaders, important progress in major new energy cooperation projects, and fresh opportunities emerging in economic, trade, and investment cooperation.

    This year marks the 20th anniversary of the China-Spain comprehensive strategic partnership and the 50th anniversary of diplomatic relations between China and the European Union, he said.

    China welcomes more Spanish companies to expand their presence in the Chinese market, share opportunities in this supersized market and benefits from China’s economic transformation and development. The two countries can work together to foster new growth areas for cooperation in digital economy, artificial intelligence and other fields, Wang added.

    The Chinese foreign minister also said that China and Spain have maintained sound communication and coordination in international affairs.

    With the current international situation in transformation and turbulence and the world facing the risk of a return to “the law of the jungle,” China and Spain should jointly practice multilateralism, promote the democratization of international relations, build broad international consensus, and work together toward equal and orderly multipolarity, Wang added.

    Albares, for his part, said Spain is willing to work with China to strengthen high-level exchanges, expand mutually beneficial cooperation, and continuously elevate bilateral ties. He noted that China, as a global power with significant influence, plays an indispensable leadership role in key international agenda such as maintaining world peace and addressing climate change.

    He said Spain supports multilateralism and is ready to strengthen cooperation with China to uphold the authority of the United Nations (UN) and accelerate progress on the UN 2030 Agenda for Sustainable Development.

    The two sides also exchanged views on issues of common concern. 

    MIL OSI China News –

  • MIL-OSI USA: Senator Markey Responds to Administrator Zeldin’s Unfounded Attack on Climate Bank, Urges Citibank Not to Give in to Fearmongering

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Boston (February 14, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Senate Environment and Public Works Committee, released the following statement after Environmental Protection Agency (EPA) Administrator Lee Zeldin attacked the lawfully established and properly structured deployment of funds through the National Clean Investment Fund and the Clean Communities Investment Accelerator. These programs, which were included in the Inflation Reduction Act, are expected to mobilize $150 billion in private and public capital to lower energy bills, support community resiliency and clean environments, and create good-paying jobs.  

    “Congress passed a law with a majority of votes that directed the Environmental Protection Agency to establish a national clean financing network to provide financing for local economic development and energy projects across the country. The EPA followed the law—a concept that is apparently unfamiliar to the Trump-Musk administration—and entered into legally binding contracts with grant recipients so these federal dollars can start helping families and small businesses lower their energy bills and create local economic opportunity. Financial Agency Agreements, like the one that EPA developed with Citibank for this program over the course of a rigorous yearlong process, have been available to the U.S. Treasury since the 1860s. These agreements allow federal grant recipients to account for funds they are legally entitled to on their balance sheets, enabling them to leverage private sector dollars. This process has always been transparent—all processes and decisions were based on timelines set by law and with full disclosure to EPA’s Office of the Inspector General and the Government Accountability Office.

    “Make no mistake—this is just another attempt by the administration to fund their millionaire and billionaire tax breaks off the backs of hardworking Americans,” continued Senator Markey. “I urge Citibank not to give into the administration’s fact-free fearmongering and bullying. Administrator Zeldin said clearly that the agency hasn’t found any evidence of fraud. He’s just kicking up dust so you can’t see the administration’s true intent—taking money away from our communities for their own billionaire giveaways. The contracts for this national clean financing network are clear: the funding needs to be accessible to recipients. Laws passed by Congress and contracts between parties can’t legally be broken on a whim. No matter what reality the Trump-Musk administration is operating in, it can’t ignore that fact.”  

    Senator Markey secured numerous provisions in the Inflation Reduction Act, including the creation of a $27-billion national climate financing network based on his National Climate Bank Act. Following the passage of the Inflation Reduction Act in 2022, Senators Markey and Van Hollen and Congresswoman Dingell—the House lead on the climate financing legislation—welcomed the launch of the Greenhouse Gas Reduction Fund in April 2023. 

    MIL OSI USA News –

  • MIL-OSI USA: Policy Experts Agree: Significant Infrastructure Investments Needed in America’s Arctic—Alaska

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    02.14.25

    Sen. Sullivan Highlights Escalating Incursions by Adversaries Near Alaska

    WASHINGTON—Several Arctic policy experts at a hearing of the Senate Committee on Commerce, Science and Transportation (CST) testified strongly this week in support of increasing infrastructure investments in Alaska, which constitutes the entirety of America’s Arctic. While the hearing was focused on Greenland’s geostrategic importance to the United States, Sen. Dan Sullivan (R-Alaska), a member of CST, argued that Alaska offers every potential resource and national security benefit of Greenland, but has too often been treated like one big “national park” by Democratic administrations, most recently by the Biden administration. Sen. Sullivan made this argument in a recent Wall Street Journal op-ed titled, “Greenland is nice, but Alaska is better.”

    In his questioning of the experts, Sen. Sullivan highlighted the significant escalation in incursions by Russian and Chinese military aircraft and vessels in Alaska’s Air Defense Identification Zone (ADIZ) and Exclusive Economic Zone (EEZ). Each of the witnesses agreed with Sen. Sullivan that the increasing aggression toward Alaska by America’s adversaries warrants deploying new military assets to the state, including personnel, vessels, aircraft, ports and bases.

    Sen. Sullivan was optimistic about the prospect of further investments in Alaska given President Donald Trump’s focus on the state, including a comprehensive day-one executive order, “Unleashing Alaska’s Extraordinary Resource Potential,” which directed many of the Biden administration’s harmful policies and actions related to Alaska lands and resources to be rescinded and many policies of the first Trump administration to be reinstated.

    [embedded content]

    Officials testifying before the committee were Alexander Gray, senior fellow in national security affairs at the American Foreign Policy Council; Anthony Marchese, chairman of Texas Mineral Resources; Dr. Jennifer Mercer, section head for Arctic sciences at the National Science Foundation’s Office of Polar Programs; and Dr. Rebecca Pincus, director of the Wilson Center’s Polar Institute.

    Below is a full transcript of Sen. Sullivan’s exchanges in the CST hearing.

    SEN. DAN SULLIVAN: Thank you, Mr. Chairman, and thank you very much for holding this very important hearing. Arctic issues are something that, as the senator representing the only Arctic state in the country, I care deeply about. I appreciate the chairman focusing on this. I want to first mention, I think the idea of the President looking to purchase Greenland has already been mentioned by a number of the panelists. Other presidents have thought about this. I think it’s a wonderful idea if we can pull it off. Truman, Andrew Johnson, others did. But I also think it’s important to remember—this is an op-ed I wrote in the Wall Street Journal a couple of weeks ago saying—hey, Greenland’s nice, good to go if we can get it, but remember our Arctic state, Alaska. Because everything that people talk about with regard to Greenland we have in spades already in America—it’s called Alaska: Arctic location, strategic and critical minerals, oil and gas, the cornerstone of America’s missile defense. It’s all there. The problem is, as the panelists know, when Democrats get in power—Biden was the latest example—they want to turn Alaska into a national park, not recognizing our state for what it is, which is a strategic crown jewel for America. The father of the U.S. Air Force, General Billy Mitchell, in testimony before Congress in the mid-1930s, called Alaska the “most strategic place on the planet.” And it is. So that’s what we’re focused on. Don’t forget Alaska. Fortunately, unlike President Biden, President Trump has already made it very clear that he’s not going to forget Alaska. On day one, the president signed an executive order called “Unleashing Alaska’s Extraordinary Resource Potential.” I want to thank President Trump and his team for doing that. It goes into everything that this hearing has talked about: strategic minerals, oil and gas, natural gas, getting the military involved. We just introduced my legislation called the IRON DOME Act, which is all about missile defense. Alaska is the cornerstone of our country’s missile defense, and we can build that out even better. I appreciate what President Trump is already doing on Alaska. But it’s not as if our adversaries don’t recognize the strategic importance of Alaska or the Arctic. Next slide. This is what doesn’t make a lot of news in the Lower 48. In the last [few] years, we have had an enormous amount of Russian incursions into our airspace—America’s airspace—Alaska’s ADIZ, naval incursions into EEZ. Just in the past year, these are some depictions of this. This is another slide we have. This gives you all of the Russian-Chinese joint strategic bomber incursions in our ADIZ and, very disturbingly, joint naval task forces into our EEZ. Our adversaries clearly understand the Arctic. That’s a wind up to a question I want to ask the panelists. Mr. Gray, why don’t we start with you. Given this, how important is America’s Arctic? I’ve been talking to Secretary Hegseth, the President, and others in Alaska, not just for missile defense, but to push back on what is clearly happening. We had a meeting on what we’re going to be doing on the border. A lot of discussion with the President’s team on the northern border. This is the northern border, and our adversaries are all over it. In my view, what we need is a lot more infrastructure, a lot more military, a lot more missile defense, a lot more unleashing Alaska’s critical minerals, oil and gas. We couldn’t have a better partner right now with President Trump. The contrast between him and President Biden, who wanted to make my state a national park—he issued 70 executive orders—70—singularly focused on Alaska to shut us down. President Trump’s wiped that out. What’s your sense on how we need to respond to this in America’s Arctic, which is Alaska, and the potential that Greenland could add to this, because that’s the other part of the Arctic, not the Alaska part of the Arctic?

    GRAY: Senator, it’s incredibly important. I think we have to look at our hemisphere holistically, from the Aleutians to Greenland, from pole to pole, and have a—President Trump began this process in his first term—this holistic Arctic strategy that I was pleased to be involved in. We have to, from a military standpoint, we’ve talked about icebreakers, but we have to…

    SULLIVAN: Wait, just real quick, on icebreakers: Russia has 54, some of which are nuclear, many of which are weaponized. We have two and one is broken. Do you think that’s “peace through strength” when it comes to icebreakers? It isn’t. Continue. Sorry to interrupt you.

    GRAY: It’s obviously—the icebreakers are key, particularly when we think about what the adversaries are doing: nuclear-powered icebreakers, growing their fleet. When we think about the limited C-130 capacity that we have now for Arctic takeoff and landings, when we think about just the general attrition of Arctic warfighting capabilities since the end of the Cold War and the lack of investment in them, I know DOD will likely have its own Arctic strategy. We have to have Arctic warfighting capacity and deterrence as a much higher-level priority. I think your chart and what your state’s dealing with is a perfect example of why.

    __________

    SULLIVAN: First, going back to this chart, I want to get a sense of why you think this has been a pretty dramatic increase from Russia and China in unprecedented joint naval and strategic bomber task forces into our airspace, into our water EEZ? And related to that, Mr. Gray, you talked about presence. You can’t have presence without infrastructure. I think it’s high time that we start looking at more infrastructure to be able to address this. We’re going to have a hearing with the NORTHCOM commander in the Armed Services Committee tomorrow. I’m going to talk a lot about looking at potential bases. There’s an incredible Navy base out here, the Adak Naval Base. It was closed during a BRAC. That could be a great sub base, Naval air station base, surface warship base. Huge refueling capacity right there flanking the Russians, Chinese. Very strategic. We’re trying to get a strategic port built in Nome, Alaska, but otherwise, we have very little infrastructure from which to launch military, economic, icebreaker capabilities. So maybe just a quick question for all the panelists. Do we need more infrastructure in America’s Arctic? I’m not talking Greenland. This hearing is about strategic interests in the Arctic. We’re an Arctic nation solely because of that great state, Alaska. What’s your sense, for all the panelists, on infrastructure in the Arctic to combat what is a very aggressive move by our adversaries? By the way, just talking to the NORTHCOM commander, we had one of the busiest times ever in terms of aggressive incursions, joint Chinese-Russian operations. That’s unprecedented. He thinks this year, it’s going to be even more. We’ve got to be ready for protecting America. Now, what’s the sense of the panel on infrastructure in America’s Arctic?

    GRAY: Senator, I couldn’t agree more. We have to have more infrastructure, not just from a defensive presence standpoint to protect our homeland, but also from a power projection standpoint. We’ve allowed our Arctic infrastructure, in addition to a lot of just our general defense industrial infrastructure, to atrophy. I think this would be a huge way to boost our capacity to deter in the Arctic.

    SULLIVAN: Great. Mr. Marchese, do you have a view on that?

    MARCHESE: Senator, I couldn’t agree with you more. You’re preaching to the converted. We, in my opinion, need significantly more infrastructure spending, not only in Alaska, but in the United States. There’s nothing wrong with fishing at your feet. We have everything we need here. It’s great that we’re going to Greenland, but let’s concentrate on what we can control, which is United States investment.

    SULLIVAN: Great. Thank you. Dr, Mercer?

    MERCER: Thank you for the question, sir. As I said before, America is the world’s leader in scientific research. That’s certainly true in the polar regions. We rely heavily, in order to be the leader in research in the polar regions, on Coast Guard icebreakers, the LC-130 aircraft, the C-17 aircraft, the Space Base Pituffik in Greenland. As I noted in my opening testimony, we’re in the design process to recapitalize and modernize Summit Station at the center of the Greenland ice sheet.

    SULLIVAN: Great. Thank you. Dr. Pincus?

    PINCUS: Thank you, Senator. I agree that we are seeing increased adversary presence in the region because they perceive weakness on their part. And so they’re pressing us there.

    SULLIVAN: By the way, it’s not on this chart. I have another one that shows they’re—I think some of the witnesses said this earlier—they’re building up their infrastructure, particularly military, but also energy and critical mineral infrastructure, in a huge way in the Arctic. We’re still kind of, I agree, exuding weakness.

    PINCUS: I would also note that we face multiple challenges in Alaska. In addition to extending and expanding our presence there, we have challenges with coastal erosion and some of the permafrost issues. So there’s money that needs to be put into current DOD installations to harden them. We’re also seeing the expansion of wildland fires and other novel challenges. I think efficient spending decisions to get as much bang for our buck is important, so we can meet the full range of national security through economic and community concerns related to that really wide range of challenges. I would put the Coast Guard at the top of the list, because it’s got a broad mission set and its assets can be utilized for a lot of different purposes. Obviously, DoD assets can be applied to civil disasters as well. And then, new technology that can help us respond effectively and juggle competing demands, whether it’s from a massive wildfire, a big coastal storm, like some of the storms we’ve seen in western Alaska, or military challenges. We have to do all of those at the same time. It’s a real big problem set and I appreciate you flagging it.

    SULLIVAN: Good. Thank you.

    MIL OSI USA News –

  • MIL-OSI USA: Lummis urges swift action on Wyoming telecom security funding

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    Washington, D.C.— U.S. Senator Cynthia Lummis (R-WY) sent a letter to the Federal Communications Commission (FCC) Chairman Brendan Carr urging him to ensure swift disbursement of funds for the “Rip and Replace” program. Rip and Replace funding is integral to our national security because it will remove dangerous Chinese components from our wireless communications systems and replace them with safe and secure equipment. The initial $1.9 billion funding authorized fell far short of the nearly $5 billion required to legally remove and replace impacted equipment. Without this funding, Wyoming communities could lose their access to telecommunications services. 

    “Quickly disbursing funds for the ‘Rip and Replace’ program ensures small wireless and broadband carriers throughout the country will not be saddled with millions of dollars in costs that could result in service blackouts and disruptions to Americans,” Lummis wrote. “This is especially important to states like Wyoming, where poor telecommunications connectivity continues to be one of the state’s biggest challenges. With the new funding, telecommunications companies will now have the ability to not only ensure the rural areas of Wyoming have reliable access but also that our communications systems are protected from foreign adversaries.”

    In February 2023, Lummis penned an op-ed in the Hill expressing her serious concerns over the Chinese Communist Party’s ability to spy on the people of Wyoming through the equipment used to build out broadband and wireless networks in the state and the urgent need for Rip and Replace to be fully funded.

    Last Congress, Lummis introduced an amendment to the appropriations bill to fully fund Rip and Replace and ensure Wyoming communities continue having access to reliable broadband and wireless services. Her amendment was included in the final version of the NDAA.

    Read a full copy of the letter here.

    MIL OSI USA News –

  • MIL-OSI USA: Crapo Backs Effort to Permanently Repeal the Death Tax

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–U.S. Senator Mike Crapo, Chairman of the Senate Finance Committee, joined Senate Majority Leader John Thune (R-South Dakota) and 44 additional Senate colleagues in reintroducing legislation that would permanently repeal the federal estate tax, commonly known as the death tax.  The Death Tax Repeal Act would end this purely punitive tax that can hit family-run farms, ranches, and businesses as the result of the owner’s death.

    “Small businesses are the lifeblood of Idaho’s economy, and family farmers, ranchers and entrepreneurs have often worked lifetimes to grow their businesses,” said Crapo.  “The death tax can be a devastating blow to American families who want to pass down their farm or small business to the next generation.  It’s time to permanently provide relief from this unfair tax.”

    “Family farms and ranches play a vital role in our economy and are the lifeblood of rural communities in South Dakota,” said Thune.  “Losing even one of them to the death tax is one too many. It’s time to put an end to this punishing, burdensome tax once and for all so that family farms, ranches and small businesses can grow and thrive without costly estate planning or massive tax burdens that can threaten their viability.”

    The legislation is supported by the Idaho Cattle Association and the Idaho Farm Bureau.

    “The Idaho Cattle Association supports full repeal of the ‘Death Tax,’” said Cameron Mulrony, Executive Vice President of the Idaho Cattle Association.  “The long-term success of our historic industry has been predicated on the ability to provide profitability and transfer over generations.  The repeal of this tax is critical in the continual success of multi-generational operations and the legacy of our industry.”

    “The Idaho Farm Bureau Federation applauds efforts to permanently repeal the Death Tax,” said Bryan Searle, President of the Idaho Farm Bureau.  “One of the best ways to support multi-generation family farms and ranches is to not penalize the new generation. Farm Bureau thanks Senators Thune and Crapo for leading on this important issue.”

    Additional co-sponsors of the legislation include U.S. Senators Jim Risch (R-Idaho), Jim Banks (R-Indiana), John Barrasso (R-Wyoming), Marsha Blackburn (R-Tennessee), John Boozman (R-Arkansas), Katie Britt (R-Alabama), Ted Budd (R-North Carolina), Shelley Moore Capito (R-West Virginia), John Cornyn (R-Texas), Tom Cotton (R-Arkansas), Kevin Cramer (R-North Dakota), Ted Cruz (R-Texas), John Curtis (R-Utah), Steve Daines (R-Montana), Joni Ernst (R-Iowa), Deb Fischer (R-Nebraska), Lindsay Graham (R-South Carolina), Chuck Grassley (R-Iowa), Bill Hagerty (R-Tennessee), Josh Hawley (R-Missouri), John Hoeven (R-North Dakota), Cindy Hyde-Smith (R-Mississippi), Ron Johnson (R-Wisconsin), Jim Justice (R-West Virginia), John Kennedy (R-Louisiana), James Lankford (R-Oklahoma), Mike Lee (R-Utah), Cynthia Lummis (R-Wyoming), Roger Marshall (R-Kansas), Mitch McConnell (R-Kentucky), Dave McCormick (R-Pennsylvania), Jerry Moran (R-Kansas), Bernie Moreno (R-Ohio), Markwayne Mullin (R-Oklahoma), Pete Ricketts (R-Nebraska), Mike Rounds (R-South Dakota), Eric Schmitt (R-Missouri), Rick Scott (R-Florida), Tim Scott (R-South Carolina), Tim Sheehy (R-Montana), Thom Tillis (R-North Carolina), Tommy Tuberville (R-Alabama), Roger Wicker (R-Mississippi) and Todd Young (R-Indiana).  Representative Randy Feenstra (R-Iowa) introduced companion legislation in the U.S. House of Representatives.

    The bill is supported by more than 190 members of the Family Business Coalition and more than 105 members of the Family Business Estate Tax Coalition, which includes the National Federation of Independent Business, the National Restaurant Association, the National Association of Home Builders and the U.S. Chamber of Commerce.

    MIL OSI USA News –

  • MIL-OSI Russia: Five best articles in Russian for 14.02.2025

    MIL analysis: Here are the top five articles in Russian published today. The analysis consists of five articles that are in priority at the moment.

    Economics and Social Performance.

    Economists from the National Research University Higher School of Economics and RUDN analyze the problems of the economy, introducing new solutions such as digitalization and artificial intelligence with human-centeredness.

    Rosneft decided to take part in the “Give books with love” campaign, developing the culture of Russia.

    What is love? NSU students decided to answer this question

    Below you can read one of the articles.

    1. Financial news: 12 regions have reached the finals of the all-Russian contest “Capital of Financial Culture”.

    According to the results of the qualifying stage of the competition members of the competition Commission chose 12 subjects of the Russian Federation, which will continue to compete for the title of “Capital of financial culture”. They are Altai Krai, Bryansk Oblast, Kaliningrad Oblast, Kemerovo Oblast – Kuzbass, Krasnoyarsk Krai, Nizhny Novgorod Oblast, Primorsky Krai, Republic of Bashkortostan, Republic of Sakha (Yakutia), Stavropol Krai, Ulyanovsk Oblast, and Chuvash Republic.

    2. Implementation of sustainable development principles attracts more investments.

    Economists from the National Research University Higher School of Economics and RUDN analyzed the problems associated with the digital transformation of companies. The introduction of digital solutions into the work of companies reduces the number of patents in the field of green technologies by 4% and creates additional financial difficulties. However, if a company pays attention to sustainability and increases its Environmental, Social and Governance (ESG) rating, the negative effects are reduced. Moreover, with a high ESG rating, digitalization can even increase the number of patents by 2%. The article is published in the leading international journal Sustainability.

    3. The smart bank of the future: how AI enhances human-centeredness.

    Higher School of Economics

    Thanks to the rapid development of digital technologies, the banking industry is undergoing a period of profound transformation. One of the key changes is the transition to a human-centered model that prioritizes the interests and needs of the client. This topic was discussed at the webinar of the Human-Centeredness and Leadership Practices Laboratory of the National Research University Higher School of Economics and the Bank of Russia. The event gathered over 1400 representatives of banking and financial organizations from all over Russia.

    4. Romantic love: a great feeling or a byproduct of evolution.

    Novosibirsk State University –

    Since ancient times and up to our days, philosophers and writers have tried to answer the question “what is love?”. Scientists have not been left aside. They have their own special view on this matter. Romantics believed that this great feeling is born in the heart, representatives of science do not agree with them. Studies have shown that it’s all about the complex processes that occur in the brain. From the point of view of modern science, romantic love is not a gift of fate at all, but an adaptation that arose in the process of evolution.

    5. Rosneft volunteers are developing a culture of book-giving throughout Russia.

    Rosneft enterprises across the country took part in the nationwide campaign “Give Books with Love”, which is timed to coincide with the International Book Giving Day, celebrated annually on February 14.

    As part of the campaign, the Company’s volunteers traditionally donate printed publications to urban and rural libraries, museums, educational and medical institutions. Over the years of participation in the initiative, oilmen have enriched the literary funds with thousands of various publications, including encyclopedic, popular science and art books.

    Learn more about MIL’s content and data services by visiting milnz.co.nz.

    Regards MIL!

    MIL OSI Russia News –

  • MIL-OSI: $TOCKHOLDER ALERT: The M&A Class Action Firm Continues To Investigate The Merger – EVGR, QTRX, RKDA, EBTC

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 14, 2025 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

    • Evergreen Corporation (Nasdaq: EVGR), relating to its proposed merger with Forekast Limited. Under the terms of the agreement, Forekast shares will automatically be converted into the right to receive a number of Evergreen shares.

    Click here for more information https://monteverdelaw.com/case/evergreen-corporation/. It is free and there is no cost or obligation to you.

    • Quanterix Corporation (Nasdaq: QTRX), relating to the proposed merger with Akoya Biosciences. Under the terms of the agreement, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each share of Akoya common stock owned. Quanterix shareholders will own approximately 70% of the combined company.

    Click here for more https://monteverdelaw.com/case/quanterix-corporation-qtrx/. It is free and there is no cost or obligation to you.

    • Arcadia Biosciences, Inc. (Nasdaq: RKDA), relating to the proposed merger with Roosevelt Resources LP. Under the terms of the agreement, Roosevelt and Arcadia shareholders are expected to own approximately 90% and 10%, respectively, of the outstanding shares of Arcadia.

    Click here for more https://monteverdelaw.com/case/arcadia-biosciences-inc-rkda/. It is free and there is no cost or obligation to you.

    • Enterprise Bancorp, Inc. (Nasdaq: EBTC), relating to the proposed merger with Independent Bank Corp. Under the terms of the agreement, shareholders of Enterprise will receive 0.60 shares of Independent, and $2.00 in cash, per share held.

    ACT NOW. The Shareholder Vote is scheduled for April 3, 2025.

    Click here for more https://monteverdelaw.com/case/enterprise-bancorp-inc-ebtc/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network –

  • MIL-OSI USA: Baldwin Introduces Year-Round E15 Bill to Cut Costs at the Pump, Support Wisconsin Farmers

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin

    WASHINGTON, D.C. – U.S. Senator Tammy Baldwin (D-WI) and a bipartisan group of her colleagues introduced the Nationwide Consumer and Fuel Retailer Choice Act of 2025. The legislation would allow the year-round, nationwide sale of E15 which will help lower costs at the pump and support Wisconsin agriculture.

    “Homegrown biofuels cut costs at the pump for Wisconsin families while supporting our farmers and increasing our energy independence from foreign oil,” said Senator Baldwin. “I am proud to work with my Democratic and Republican colleagues to ensure cleaner E15 fuel is available year-round, support our agricultural communities, and move our Made in Wisconsin economy forward.”

    Senator Baldwin has long championed increasing the use of biofuels to reduce prices at the pump and support Wisconsin’s farmers, producers, and rural communities. In 2023 and 2024, Senator Baldwin successfully pushed the Biden administration to allow E15 fuel to be sold during the summer months.

    The bill is led by Senator Deb Fischer (R-NE) and also co-sponsored by Senators Tammy Duckworth (D-IL), Shelley Moore Capito (R-WV), Amy Klobuchar (D-MN), John Thune (R-SD), Pete Ricketts (R-NE), Dick Durbin (D-IL), Jerry Moran (R-KS), Chuck Grassley (R-IA), Roger Marshall (R-KS), Joni Ernst (R-IA), Tina Smith (D-MN), and Mike Rounds (R-SD).

    The legislation is endorsed by American Petroleum Institute, Renewable Fuels Association, Growth Energy, National Corn Growers Association, National Farmer Union, and National Association of Convenience Stores.

    Full text of the bill is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Baldwin Introduces Bill to Cap Prescription Drug Costs

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin

    WASHINGTON, D.C. – U.S. Senator Tammy Baldwin (D-WI) joined a group of her colleagues in introducing the Capping Prescription Costs Act, legislation that would lower prescription drug costs for millions of Americans by placing annual caps on out-of-pocket costs for prescription drugs at $2,000 for individuals and $4,000 for families with private insurance. This legislation builds on the success of the Baldwin-backed Inflation Reduction Act, which capped prescription drug costs for seniors, extending the savings to the commercial health care market.

    “While the big drug companies are raking in billions of dollars in profits, too many families across Wisconsin are scraping to get by and forced to make impossible decisions to afford the prescription drugs they need to stay healthy,” said Senator Baldwin. “It’s wrong and we have to do more to hold these price-gouging companies accountable and keep costs down for families. Our legislation will lower the price of prescription drugs and help ensure that every Wisconsinite has access to the quality, affordable health care that they deserve.”

    Over 60 percent of American adults take at least one prescription drug, with 25 percent of adults taking four or more. Yet Americans often pay more for the same prescription drugs than people in other countries, and due to the cost burden, American patients often cannot afford their medications as prescribed. This results in patients skipping doses, cutting doses in half, or taking over-the-counter medications instead of their prescriptions. One study found that 31 percent of patients did not take their medications as prescribed due to cost. The new $2,000 cap on cost-sharing for individuals and $4,000 for families will apply to all of the 173 million Americans who have private health insurance.

    Senator Baldwin has long championed bringing down prescription drug costs. In August 2022, Senator Baldwin helped pass the Inflation Reduction Act (IRA) to lower health care and prescription drug costs for older adults, people with disabilities, and families across the nation. Starting in January 2023, the IRA capped the cost of insulin for Medicare Part D beneficiaries at $35 a month for certain covered insulin products. 

    Senator Baldwin also launched an investigation into the extremely high prices four large pharmaceutical companies charge for inhalers that 25 million Americans with asthma and 16 million Americans with chronic obstructive pulmonary disease (COPD) rely on to breathe. In just two months after the investigation was launched, three of the four pharmaceutical companies capped their out-of-pocket costs for their inhaler products at $35 per month in the United States.

    This legislation is led by Senator Raphael Warnock (D-GA) and is co-sponsored by Senators Cory Booker (D-NJ), Richard Blumenthal (D-CT), John Fetterman (D-PA), Kirsten Gillibrand (D-NY), Maritn Heinrich (D-NM), Andy Kim (D-NJ), Amy Klobuchar (D-MN), Patty Murray (D-WA), and Peter Welch (D-VT).

    Full text of the legislation is available here.

    MIL OSI USA News –

  • MIL-OSI USA News: Wins Come All Day Under President Donald J. Trump

    Source: The White House

    It was another week filled with endless wins for the American people under President Donald J. Trump.

    Here are only a few of the many victories from the past week:

    • President Trump brought home an American citizen wrongfully detained in Russia and another American detained in Belarus — the tenth and eleventh hostages freed since he took office.
      • Michael McFaul, U.S. Ambassador to Russia under President Obama, reacted to Marc Fogel’s release and said: “Hallelujah! Fantastic news! Praise be to President Donald Trump … This is just fantastic news for anybody who cares about patriotic Americans.”
    • President Trump restored a 25% tariff on steel imports and elevated the tariff to 25% on aluminum imports to protect these critical American industries from unfair foreign competition.
      • The Steel Manufacturers Association released a statement applauding “President Trump for putting the American steel industry and its workers first by imposing a 25 percent tariff on all steel imports. President Trump understands that America’s steel industry is the backbone of our economy. A thriving domestic steel industry is critical to U.S. national, energy and economic security.”
      • The president of the Aluminum Association said: “We appreciate President Trump’s continued focus on strong trade actions to support the aluminum industry in the United States.”
      • Colorado Springs-based, family-owned Western Steel, Inc., praised the move: “What we hope that the tariffs will bring is some sort of stability to U.S. pricing. It allows a little bit more money to be made … on the intermediate level like us.”
    • President Trump unveiled a plan for fair and reciprocal trade, making clear to the world that the United States will no longer tolerate being ripped off.
      • The Renewable Fuels Association said: “The Brazilian tariff on U.S. ethanol now stands at 18 percent and has virtually eliminated all market access for U.S. ethanol producers. We thank President Trump for taking this action and hope this reciprocal tariff will help encourage a return to free and fair ethanol trade relationship with Brazil.”
    • President Trump spoke with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy in pursuit of finally securing peace.
    • President Trump hosted Jordan’s King Abdullah II, who announced the Kingdom will accept 2,000 sick children from Gaza “as quickly as possible.”
    • President Trump joined Indian Prime Minister Narendra Modi to announce new deals between the two countries on immigration, trade, energy, and artificial intelligence.
    • The Department of Energy approved the first liquefied natural gas project since the prior administration banned LNG exports last year.
    • President Trump declared all foreign policy must be conducted under the President’s direction, ensuring career diplomats reflect the foreign policy of the United States at all times.
    • President Trump paused enforcement of the overregulation of American business practices abroad, which negatively impacted national security.
    • Hamas agreed to free additional Israeli hostages after President Trump declared “all hell is going to break out” if the terrorist group delayed.
    • Taiwan pledged to boost its investment in the United States amid President Trump’s tariffs.
    • President Trump received his highest ever approval rating in a CBS News poll — with 70% of Americans agreeing he is keeping his promises.
    • President Trump attended Super Bowl LIX in New Orleans, becoming first sitting President to do so and bringing back tradition of pre-Super Bowl interviews.
    • Illegal border crossings have hit lows not seen in decades.
    • Hundreds of illegal aliens from Venezuela were repatriated back to their own country on Venezuelan-owned planes.
    • Illegal aliens have started turning around in droves amid the Trump Administration’s crackdown on dangerous illegal immigration.
    • The Department of Homeland Security “clawed back” tens of millions of dollars in funds paid by rogue FEMA officials to house illegal aliens in luxury New York City hotels.
    • President Trump instructed the Secretary of the Treasury to stop production of the penny, which costs 3.69 cents to make.
    • Director of National Intelligence Tulsi Gabbard, Secretary of Health and Human Services Robert F. Kennedy, Jr., and Secretary of Agriculture Brooke Rollins were confirmed by the Senate — continuing the Trump Administration’s rapid pace of confirmations.
    • President Trump signed an executive order barring COVID-19 vaccine mandates in schools that receive federal funding.
    • President Trump established the National Energy Dominance Council to advise on achieving energy dominance.
    • President Trump established the Make America Healthy Again Commission, which redirects the national focus to promoting health rather than simply managing disease.
    • President Trump signed an executive to end the use of paper straws.
    • President Trump shut down the Biden-era “Climate Corps” work program.
    • President Trump secured the resignations of 75,000+ federal workers, or approximately 3.75% of the federal workforce, in an effort to eliminate inefficiency at taxpayer expense.
    • President Trump commenced his plan to downsize the federal bureaucracy and eliminate waste, bloat, and insularity — including an order that agencies hire no more than one employee for every four employees who leave.
    • The Trump Administration ordered the Consumer Financial Protection Bureau — the brainchild of Elizabeth Warren, which funneled cash to left-wing advocacy groups — to halt operations.
    • President Trump ended the wasteful Federal Executive Institute, which had become a training ground for bureaucrats.
    • President Trump ordered the immediate dismissal of the Board of Visitors for the Army, Air Force, Navy, and Coast Guard following years of woke ideologies infiltrating U.S. service academies.
    • Secretary of Defense Pete Hegseth restored Fort Liberty, North Carolina, to “Fort Bragg,” in honor of a World War II hero.
    • President Trump instructed EPA Administrator Lee Zeldin to terminate Biden-era regulations restricting water flow and mandating inadequate lightbulb standards.
    • President Trump proclaimed “Gulf of America Day” after the Department of the Interior officially changed the name on its mapping databases.
      • Google Maps and Apple Maps both updated their apps to reflect the new name.
    • The Department of Justice filed suit against the State of New York and its elected officials over their willful failure to follow federal immigration law.
    • The Environmental Protection Agency canceled tens of millions of dollars in contracts to left-wing advocacy groups and announced an investigation into a scheme by Biden EPA staffers to shield billions of dollars from oversight and accountability.
    • The Department of Education announced an investigation into the Minnesota State High School League and California Interscholastic Federation for violation of federal anti-discrimination law by allowing men to compete in women’s sports.
    • The Federal Bureau of Investigation discovered 2,400 additional records on the assassination of President John F. Kennedy, which were never provided to the board tasked with reviewing and disclosing the documents. The discovery happened due to President Trump’s executive order calling for the declassification of JFK assassination documents.
    • The Department of Veterans Affairs implemented a new flag policy to promote the prominence of the American flag and ensure consistency among its facilities.
    • President Trump was unanimously elected as Chairman of The Kennedy Center Board of Trustees and fired a slew of the Center’s board members over their obsession with perpetuating radical ideologies.
    • U.S. crude oil stockpiles continued to rise, which they have done every week since President Trump took office.
    • Chicago Lurie Children’s Hospital paused sex change surgeries for minors in response to President Trump’s executive order ending the radical practice.
    • Taxpayer-funded PBS closed its DEI office and Disney dropped two of its DEI programs after President Trump’s executive order reining in such discriminatory practices.

    MIL OSI USA News –

  • MIL-OSI USA News: Establishing the National Energy Dominance Council

    Source: The White House

    class=”has-text-align-left”>By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:

         Section 1.  Policy.  America is blessed with an abundance of natural resources and is a leader in energy technologies and innovation that are critical to the economic prosperity and national security of the American people, as well as our partners and allies.  We must expand all forms of reliable and affordable energy production to drive down inflation, grow our economy, create good-paying jobs, reestablish American leadership in manufacturing, lead the world in artificial intelligence, and restore peace through strength by wielding our commercial and diplomatic levers to end wars across the world.  By utilizing our amazing national assets, including our crude oil, natural gas, lease condensates, natural gas liquids, refined petroleum products, uranium, coal, biofuels, geothermal heat, the kinetic movement of flowing water, and critical minerals, we will preserve and protect our most beautiful places, reduce our dependency on foreign imports, and grow our economy — thereby enabling the reduction of our deficits and our debt.
    It shall be the policy of my Administration to make America energy dominant.

         Sec. 2.  Establishment.  There is hereby established within the Executive Office of the President the National Energy Dominance Council (Council).

         Sec. 3.  Membership.  (a)  The Secretary of the Interior shall serve as Chair of the Council.  The Secretary of Energy shall serve as Vice Chair of the Council.
    (b)  In addition to the Chair and the Vice Chair, the Council shall consist of the following members:
    (i)      the Secretary of State;
    (ii)     the Secretary of the Treasury;
    (iii)    the Secretary of Defense;
    (iv)     the Attorney General;
    (v)      the Secretary of Agriculture;
    (vi)     the Secretary of Commerce;
    (vii)    the Secretary of Transportation;
    (viii)   the Administrator of the Environmental Protection Agency;
    (ix)     the Director of the Office of Management and Budget;
    (x)      the United States Trade Representative;
    (xi)     the Deputy Chief of Staff for Policy;
    (xii)    the Assistant to the President for Economic Policy;
    (xiii)   the Assistant to the President for National Security Affairs;
    (xiv)    the Assistant to the President for Domestic Policy;
    (xv)     the Chairman of the Council on Environmental Quality;
    (xvi)    the Chairman of the Council of Economic Advisers;
    (xvii)   the Director of the Office of Science and Technology Policy; and
    (xviii)  the heads of such other executive departments and agencies (agencies) as the President may, from time to time, designate.

         Sec. 4.  Functions.  (a)  The Chair shall convene and preside over meetings of the Council, in consultation with the Office of the Chief of Staff, provided that in his absence the Vice Chair shall preside.
    (b)  The Council shall:
    (i)    advise the President on how best to exercise his authority to produce more energy to make America energy dominant;
    (ii)   advise the President on improving the processes for permitting, production, generation, distribution, regulation, transportation, and export of all forms of American energy, including critical minerals;
    (iii)  provide to the President a recommended National Energy Dominance Strategy to produce more energy that includes long-range goals for achieving energy dominance by cutting red tape, enhancing private sector investments across all sectors of the energy-producing economy, focusing on innovation, and seeking to eliminate longstanding, but unnecessary, regulation;
    (iv)   advise and assist the President in facilitating cooperation among the Federal Government and domestic private sector energy partners; and
    (v)    advise the President on facilitating consistency in energy production policies included in the Strategy developed under subsection (b)(iii) of this section.
    (c)  In performing the advisory functions listed under subsection (b) of this section, the Council, through the Chair, shall, when appropriate, coordinate with the Assistant to the President for Economic Policy, the Assistant to the President for Domestic Policy, and the Assistant to the President for National Security Affairs.  The functions of the Council shall report to the Office of the Chief of Staff.
    (d)  Within 100 days of the date of this order, and from time to time thereafter as deemed appropriate by the Chair, the Council shall:
    (i)    recommend to the President a plan to raise awareness on a national level of matters related to energy dominance, such as the urgency of reliable energy; the improvements in technology achieved through reliable energy sources; the national security concerns with removing reliable and affordable energy sources; the jobs supported by the energy sector; and the regulatory constraints driving up the cost of reliable energy to consumers;
    (ii)   advise the President regarding the actions each agency can take under existing authorities to prioritize the policy objective of increasing energy production, such as rapidly and significantly increasing electricity capacity; rapidly facilitating approvals for energy infrastructure; approving the construction of natural gas pipelines to, or in, New England, California, Alaska, and other areas of the country underserved by American natural gas; facilitating the reopening of closed power plants; and bringing Small Modular Nuclear Reactors online;
    (iii)  provide to the President a review of markets most critical to power American homes, cars, and factories with reliable, abundant, and affordable energy;
    (iv)   advise the President regarding incentives to attract and retain private sector energy-production investments;
    (v)    advise the President on identifying and ending practices that raise the cost of energy; and
    (vi)   consult with officials from State, local, and Tribal governments and individuals from the private sector to solicit feedback on how best to expand all forms of energy production.

         Sec. 5.  Administration.  (a)  The Council shall have such staff and other assistance as may be necessary to carry out its functions.
    (b)  Agencies shall cooperate with the Council and provide such assistance, information, and advice to the Council related to policies that affect energy dominance as the Chair or, at the Chair’s direction, the Vice Chair, shall reasonably request, to the extent permitted by law.

         Sec. 6.  Representation on the National Security Council.  The Secretary of the Interior, as Chair of the Council, shall serve as a standing member of the National Security Council.

         Sec. 7.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:
    (i)   the authority granted by law to an executive department or agency, or the head thereof; or
    (ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
    (b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
    (c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

    THE WHITE HOUSE,
        February 14, 2025.

    MIL OSI USA News –

  • MIL-OSI USA: Improving Health Access Through the Black Church

    Source: US State of New York

    February 14, 2025

    Albany, NY

    Governor Kathy Hochul today announced increased funding for United Way of New York City to support the expansion of Choose Healthy Life, a program dedicated to increasing access to health services in underserved communities through the Black church. The expanded initiative will add 10 Choose Healthy Life–funded churches in New York State to the 20 existing churches in New York City, bringing critical health services and wellness programs to five New York cities: Albany, Buffalo, Newburgh, Rochester and Syracuse. The Governor announced that Choose Healthy Life is receiving nearly $5 million, a $1.5 million increase over the prior fiscal year to fund the expansion which affirms her commitment to improving health outcomes in Black communities. Additionally, the Governor proposes adding another $1 million in her FY26 Executive Budget, bringing the total funding amount to $5.9 million over the lifespan of the program.

    “Black churches play an indispensable role in neighborhoods across New York State: connecting people with services and resources that enrich their lives and our communities as a whole,” Governor Hochul said. “Your family is my fight — that’s why I’m committing new funding to expand Choose Healthy Life and the critical health and wellness services they provide.”

    Choose Healthy Life National Black Clergy Health Leadership Council Co-Chair Rev. Al Sharpton said, “Governor Hochul’s unwavering leadership in advancing the health and safety of New York’s most underserved neighborhoods deserves our deepest gratitude. Her partnership with Choose Healthy Life exemplifies the bold action required to save lives.”

    [embedded content]

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    Governor Hochul made the announcement at Choose Healthy Life’s (CHL) Inaugural Summit which convened CHL clergy leaders, faith-based health navigators and elected officials from across New York State. The convening included the newest Upstate church pastors and navigators that are part of the expansion.

    In partnership with UWNYC, the 20 CHL churches in New York City have been highly successful in addressing persistent health disparities by serving over 100,000 individuals through the Black church. Guided by the clergy, an individual is chosen from each church community and trained to serve as a full-time health navigator. These trusted health navigators have been central to successfully serving nearly 9,000 individuals for social determinants of health needs, providing over 6,000 individuals with Blueprint for Wellness screening reports documenting their health status, and generating over 900 referrals for social support services.

    Choose Healthy Life was founded in 2021 amid the COVID pandemic and grew to fund 120 churches across 13 states. New York, with 30 churches, has more CHL churches than any other state.

    The newly participating churches in CHL’s expanded efforts include:

    • Albany: Macedonia Baptist Church, Metropolitan Baptist Church
    • Buffalo: First Shiloh Baptist Church, True Bethel Baptist Church
    • Newburgh: AME Zion of Newburgh, One Accord Christian Church
    • Syracuse: People’s AME Zion, Tucker Missionary Baptist Church
    • Rochester: New Bethel CME, Zion Hill Missionary Baptist Church

    Governor Hochul’s 2025 State of the State agenda is aimed at enhancing resources for families in New York, helping them build a strong foundation for their children. The Governor’s bold proposals and investments include:

    • putting New York on a path towards universal child care;
    • providing universal free school meals;
    • investing $110 million in child care capital funding;
    • advancing a nation-leading birth allowance — the New York State BABY Benefit;
    • expanding access to infertility treatments;
    • and distributing free diapers and other supplies to the families of nearly 100,000 babies.

    Your family is my fight — that’s why I’m committing new funding to expand Choose Healthy Life and the critical health and wellness services they provide.”

    Governor Hochul

    United Way of New York City President and CEO Grace Bonilla said, “Nearly three million people in New York City, which represent half of working-age households, do not earn enough to cover their basic needs, making access to healthcare a challenge. Choose Healthy Life is a critical program that addresses this crisis, ensuring that families, especially those historically overlooked, have access to screenings, vaccinations, and early interventions that can prevent serious health issues. We are honored that our success in New York City has yielded an additional investment by Governor Hochul, allowing us to partner with our sister United Way agencies across the state to deliver health services to New Yorkers in some of the most vulnerable cities in our state. Through these services, we are working toward lasting, systemic change to create a healthier, more equitable future for all New Yorkers.”

    Choose Healthy Life Founder and Board Chair Debra Fraser-Howze said, “This new chapter in Choose Healthy Life’s mission would not have been possible without the continued investment from Governor Hochul and the invaluable support of United Way of New York City. Choose Healthy Life is successful because of the strong collaboration that exists with clergy, government, and community leaders to carry forward our shared vision of healthier communities.”

    Choose Healthy Life Executive Director Rev. Kimberly L. Williams said, “New York has been a shining example of what can be accomplished when you provide Black churches with the resources to bring about change. Together with Governor Hochul and United Way of New York City, we’re transforming health outcomes for underserved communities across the state. By offering free health screenings, community wellness programs, access to vaccinations, and much more, Choose Healthy Life is lifting up families and empowering individuals to take charge of their own health.”

    Choose Healthy Life New York State Clergy Leader Rev. Jacques Andre DeGraff said, “The expansion of Choose Healthy Life across the state is a monumental step forward in our mission. This anointed partnership brings both the best of faith and science together ensuring that our dedicated health navigators can be effective on the front lines.”

    Embedded Flickr Album

    About United Way of New York City:

    For 87 years, United Way of New York City has been at the forefront in the fight to drive equity and ensure dignity for all New Yorkers, no matter their zip code. They unite by mobilizing the best ideas, relevant data, internal and external experts and resources. United Way of New York City maximizes impact by coordinating and aligning service providers, companies, local government and New Yorkers to help families eliminate barriers and gain the agency to improve their lives for the better. To learn more, visit unitedwaynyc.org.

    About Choose Healthy Life:

    Choose Healthy Life (CHL) is a non-profit organization dedicated to increasing access to health services through the Black church by funding, establishing and training a trusted faith-based health navigator to educate, deliver and connect the community to much-needed health services. Founded in 2021, CHL funded 120 churches across 13 states. Since then, CHL has hosted over 9,000 events, vaccinated, tested and distributed self-test kits to over 350,000 individuals, and screened over 20,000 for comprehensive health risks. Today, CHL’s health navigators are focused on addressing the underlying lack of access to health services in their respective communities, to help individuals take control of their health. For more information, visit choosehealthylife.org.

    MIL OSI USA News –

  • MIL-OSI: Bogota Financial Corp. Reports Results for the Three and Twelve Months Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    TEANECK, N.J., Feb. 14, 2025 (GLOBE NEWSWIRE) — Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company for Bogota Savings Bank (the “Bank”), reported a net loss for the three months ended December 31, 2024 of $930,000 or $0.07 per basic and diluted share, compared to a net loss of $1.2 million or $0.09 per basic and diluted share for the comparable prior year period. The Company reported a net loss for the year ended December 31, 2024 of $2.2 million or $0.17 per basic and diluted share compared to net income of $643,000, or $0.05 per basic and diluted share, for the prior year. 

    On April 24, 2024, the Company announced it had received regulatory approval to repurchase up to 237,090 shares of its common stock, which was approximately 5% of its then outstanding common stock (excluding shares held by Bogota Financial, MHC). The program does not have a scheduled expiration date and the Board of Directors may suspend or discontinue the program at any time. As of December 31, 2024, 188,047 shares have been repurchased under this program at a cost of $1.4 million.

    Other Financial Highlights:

    • Total assets increased $32.2 million, or 3.4%, to $971.5 million at December 31, 2024 from $939.3 million at December 31, 2023, largely due to an increase in cash and cash equivalents and other assets, offset by a decrease in net loans and premises and equipment.
    • Cash and cash equivalents increased $27.3 million, or 109.5%, to $52.2 million at December 31, 2024 from $24.9 million at December 31, 2023, as increases in deposits and borrowings and loan and security maturities outpaced loan growth.
    • Securities decreased $1.2 million, or 0.9%, to $140.3 million at December 31, 2024 from $141.5 million at December 31, 2023.
    • Net loans decreased $3.0 million, or 0.4%, to $711.7 million at December 31, 2024 from $714.7 million at December 31, 2023 due to decreases in residential and construction loans, offset by an increase in commercial real estate loans.
    • Total deposits at December 31, 2024 were $642.2 million, increasing $16.9 million, or 2.7%, as compared to $625.3 million at December 31, 2023, primarily due to a $14.7 million increase in interest-bearing deposits and by a $2.1 million increase in non-interest bearing checking accounts. The average rate paid on deposits increased 31 basis points to 3.73% for 2024 from 3.42% for 2023 due to higher interest rates and an increase in NOW accounts, which increased $14.1 million, or 34.0%, to $55.4 million at December 31, 2024 from $41.3 million at December 31, 2023. The yield on such accounts also increased 63 basis points to 2.53% for 2024 from 1.90% for 2023.
    • Federal Home Loan Bank advances increased $4.5 million, or 2.7% to $172.2 million at December 31, 2024 from $167.7 million as of December 31, 2023.

    The Bank completed a balance sheet restructuring consisting of two key transactions in the fourth quarter of 2024. The Bank entered into a sale-leaseback transaction whereby the Bank sold three of its branch offices resulting in a $9.0 million pre-tax gain. Subsequently, the Bank realized a pre-tax loss of $8.9 million on the sale of approximately $66.0 million in amortized cost ($57.1 million in market value) of securities with a weighted average life of approximately 5.5 years and a weighted average yield of 1.89%. The Bank reinvested $32.7 million of these proceeds into securities with a weighted average life of approximately 29.6 years and a weighted average yield of 5.60%. As of December 31, 2024 all securities were classified as available for sale and marked to market.

    Kevin Pace, President and Chief Executive Officer, said, “We were able to accomplish a key piece of our strategic plan this quarter. The sale-leaseback transaction gave us the ability to dispose of underperforming legacy investments without deteriorating regulatory capital. We were able to utilize this strategy to strengthen our balance sheet and improve future earnings. Reinvesting those funds in securities and loans at current market rates, as well as paying down higher cost borrowings, will provide both short- and long-term benefits. 

    “Uncertainty around rates continues to be a necessary consideration when planning for growth. The repositioning will help with this process while improving our net interest margin. We were able to achieve modest asset and deposit growth for the year while remaining focused on prudent lending practices. The high cost of funds, in particular in our competitive market, continued to pressure earnings. As we continue with our current stock buyback program, we remain committed to adding shareholder value.”

    Income Statement Analysis

    Comparison of Operating Results for the Three Months Ended December 31, 2024 and December 31, 2023

    Net income increased by $248,000, or 21.0%, to a net loss of $930,000 for the three months ended December 31, 2024 from a net loss of $1.2 million for the three months ended December 31, 2023. This increase was primarily due to an increase of $1.0 million in interest income, a $1.3 million decrease in non-interest expense and a decrease of $998,000 in income tax expense, offset by a $1.5 million increase in interest expense.

    Interest income increased $1.0 million, or 10.7%, from $9.6 million for the three months ended December 31, 2023 to $10.6 million for the three months ended December 31, 2024 due to higher yields on interest-earning assets and higher average balances. 

    Interest income on cash and cash equivalents increased $46,000, or 31.7%, to $191,000 for the three months ended December 31, 2024 from $145,000 for the three months ended December 31, 2023 due to a $4.1 million increase in the average balance to $13.5 million for the three months ended December 31, 2024 from $9.4 million for the three months ended December 31, 2023, reflecting the increase of liquidity due to lower loan originations. Due to rate cuts enacted in the third and fourth quarter of the year, the yield on cash and cash equivalents decreased 47 basis points from 6.08% for the three months ended December 31, 2023 to 5.61% for the three months ended December 31, 2024.

    Interest income on loans increased $299,000, or 3.6%, to $8.5 million for the three months ended December 31, 2024 compared to $8.2 million for the three months ended December 31, 2023 due primarily to 16 basis point increase in the average yield from 4.57% for the three months ended December 31, 2023 to 4.73% for the three months ended December 31, 2024 and by a $3.0 million increase in the average balance to $717.4 million for the three months ended December 31, 2024 from $714.4 million for the three months ended December 31, 2023.

    Interest income on securities increased $612,000, or 58.8%, to $1.7 million for the three months ended December 31, 2024 from $1.0 million for the three months ended December 31, 2023 primarily due to a $42.1 million increase in the average balance to $175.3 million for the three months ended December 31, 2024 from $133.2 million for the three months ended December 31, 2023 and due to a 65 basis point increase in the average yield from 3.12% for the three months ended December 31, 2023 to 3.77% for the three months ended December 31, 2024.

    Interest expense increased $1.5 million, or 22.1%, from $6.6 million for the three months ended December 31, 2023 to $8.1 million for the three months ended December 31, 2024 due to higher costs on interest-bearing liabilities and by a $58.9 million increase in the average balance of interest-bearing liabilities from $747.0 million for the three months ended December 31, 2023 to $805.9 million for the three months ended December 31, 2024. During the three months ended December 31, 2024, the use of the cash flow hedges reduced the interest expense by $280,000.

    Interest expense on interest-bearing deposits increased $954,000, or 18.2%, to $6.2 million for the three months ended December 31, 2024 from $5.2 million for the three months ended December 31, 2023. The increase was due to a 61 basis point increase in the average cost of deposits to 4.02% for the three months ended December 31, 2024 from 3.41% for the three months ended December 31, 2023. The increase in the average cost of deposits was due to the higher interest rate environment. The average balances of certificates of deposit increased $4.7 million to $501.8 million for the three months ended December 31, 2024 from $497.1 million for the three months ended December 31, 2023 while NOW and money market accounts and savings accounts decreased $148,000 and $430,000 for the three months ended December 31, 2024, respectively, compared to the three months ended December 31, 2023.

    Interest expense on Federal Home Loan Bank borrowings increased $513,000, or 37.1%, from $1.4 million for the three months ended December 31, 2023 to $1.9 million for the three months ended December 31, 2024. The increase was due to an increase in the average balance of borrowings of $54.8 million to $192.2 million for the three months ended December 31, 2024 from $137.4 million for the three months ended December 31, 2023, which was partially offset by a decrease in the average cost of 7 basis points to 3.92% for the three months ended December 31, 2024 from 3.99% for the three months ended December 31, 2023 as new borrowings in the second half of the year were at slightly lower rates. At December 31, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. 

    Net interest income decreased $439,000, or 14.9%, to $2.5 million for the three months ended December 31, 2024 from $2.9 million for the three months ended December 31, 2023. The decrease reflected a 27 basis point decrease in our net interest rate spread to 0.61% for the three months ended December 31, 2024 from 0.88% for the three months ended December 31, 2023. Our net interest margin decreased 26 basis points to 1.09% for the three months ended December 31, 2024 from 1.35% for the three months ended December 31, 2023.

    We recorded a $218,000 recovery for credit losses for the three months ended December 31, 2024 compared to a no provision for credit losses for the three-month period ended December 31, 2023. The recovery in the fourth quarter of 2024 reflects the decrease in the loan and securities portfolio. 

    Non-interest income increased by $136,000, or 48.2%, to $419,000 for the three months ended December 31, 2024 from $283,000 for the three months ended December 31, 2023. Bank-owned life insurance income increased $16,000, or 7.7%, due to higher balances during 2024. Gain on sale of assets was $74,000 as proceeds from the sale-leaseback transaction exceeded the loss on securities.

    For the three months ended December 31, 2024, non-interest expense decreased $1.3 million, or 26.9%, over the comparable December 31, 2023 period. Salaries and employee benefits decreased $776,000, or 25.2%, due to lower headcount. Professional fees decreased $141,000, or 56.9% due to lower legal costs in 2024. FDIC insurance premiums increased $12,000, or 12.1%, due to a higher assessment rate in 2024. Data processing expense increased $23,000, or 9.3%, due to higher processing costs. Director fees increased $14,000, or 9.9%, due to higher pension expense. The decrease in advertising expense of $35,000, or 36.4%, was due to reduced promotions for branch locations and less promotions on deposit and loan products. Other expense decreased $456,000, or 68.2%, as 2023 expenses were elevated due to a pending fraud claim that was under review with the insurance company.

    Income tax expense increased $998,000, or 182.1%, to an expense of $450,000 for the three months ended December 31, 2024 from a benefit of $548,000 for the three months ended December 31, 2023. The increase was due to tax reserves on uncertain deferred tax assets.

    Comparison of Operating Results for the Twelve Months Ended December 31, 2024 and December 31, 2023

    Net income decreased by $2.8 million, or 437.8%, to a net loss of $2.2 million for the twelve months ended December 31, 2024 from net income of $643,000 for the twelve months ended December 31, 2023. This decrease was primarily due to a decrease of $4.4 million in net interest income, offset by a decrease of $1.2 million in non-interest expense and by an increase of $209,000 in non-interest income and $209,000 in income tax benefit.

    Interest income increased $4.4 million, or 12.0%, from $37.3 million for the twelve months ended December 31, 2023 to $41.7 million for the twelve months ended December 31, 2024 due to increases in the average balances of and higher yields on interest-earning assets.

    Interest income on cash and cash equivalents increased $38,000, or 6.7%, to $606,000 for the twelve months ended December 31, 2024 from $568,000 for the twelve months ended December 31, 2023 due to a 71 basis point increase in the average yield from 5.23% for the twelve months ended December 31, 2023 to 5.94% for the twelve months ended December 31, 2024 due to the higher interest rate environment for most of 2024. This was offset by a $671,000 decrease in the average balance to $10.2 million for the twelve months ended December 31, 2024 from $10.9 million for the twelve months ended December 31, 2023, reflecting the use of excess liquidity primarily to fund securities purchases.

    Interest income on loans increased $1.4 million, or 4.3%, to $33.4 million for the twelve months ended December 31, 2024 compared to $32.0 million for the twelve months ended December 31, 2023 due primarily to a 20 basis point increase in the average yield from 4.49% for the twelve months ended December 31, 2023 to 4.69% for the twelve months ended December 31, 2024. The increase was offset by a $661,000 decrease in the average balance to $713.1 million for the twelve months ended December 31, 2024 from $713.8 million for the twelve months ended December 31, 2023.

    Interest income on securities increased $2.7 million, or 66.7%, to $6.9 million for the twelve months ended December 31, 2024 from $4.2 million for the twelve months ended December 31, 2023 due to a 101 basis point increase in the average yield from 2.87% for the twelve months ended December 31, 2023 to 3.88% for the twelve months ended December 31, 2024 and by a $33.8 million increase in the average balance of securities to $178.7 million for the twelve months ended December 31, 2024 from $144.9 million for the twelve months ended December 31, 2023.

    Interest expense increased $8.9 million, or 39.9%, from $22.3 million for the twelve months ended December 31, 2023 to $31.2 million for the twelve months ended December 31, 2024 due to increases in the average balance of and higher costs on interest-bearing liabilities. During the twelve months ended December 31, 2024, the use of the cash flow hedges reduced the interest expense on the Federal Home Loan Bank advances by $1.5 million.

    Interest expense on interest-bearing deposits increased $6.6 million, or 36.4%, to $24.6 million for the twelve months ended December 31, 2024 from $18.0 million for the twelve months ended December 31, 2023. The increase was due to a 112 basis point increase in the average cost of interest-bearing deposits to 3.97% for the twelve months ended December 31, 2024 from 2.85% for the twelve months ended December 31, 2023, offset by a $12.3 million decrease in the average balance of interest-bearing deposits. The increase in the average cost of deposits was due to the higher interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit increased $10.2 million to $508.3 million for the twelve months ended December 31, 2024 from $498.1 million for the twelve months ended December 31, 2023 while NOW and money market accounts and savings accounts decreased $18.1 million and $4.4 million for the twelve months ended December 31, 2024, respectively, compared to the twelve months ended December 31, 2023.

    Interest expense on Federal Home Loan Bank borrowings increased $2.3 million, or 54.4%, from $4.3 million for the twelve months ended December 31, 2023 to $6.6 million for the twelve months ended December 31, 2024. The increase was due to an increase in the average balance of borrowings of $59.2 million to $176.0 million for the twelve months ended December 31, 2024 from $116.8 million for the twelve months ended December 31, 2023. The increase was due to an increase in the average cost of 9 basis points to 3.76% for the twelve months ended December 31, 2024 from 3.67% for the twelve months ended December 31, 2023 due to the new borrowings at higher rates. At December 31, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. 

    Net interest income decreased $4.4 million, or 29.5%, to $10.6 million for the twelve months ended December 31, 2024 from $15.0 million for the twelve months ended December 31, 2023. The decrease reflected a 62 basis point decrease in our net interest rate spread to 0.66% for the twelve months ended December 31, 2024 from 1.28% for the twelve months ended December 31, 2023. Our net interest margin decreased 55 basis points to 1.16% for the twelve months ended December 31, 2024 from 1.71% for the twelve months ended December 31, 2023.

    We recorded a $148,000 recovery of credit losses for the twelve months ended December 31, 2024 compared to a $125,000 recovery for credit losses for the twelve-month period ended December 31, 2023 which reflected a decrease in the loan and securities portfolios, as well as no charge-offs during the years. This recovery was inclusive of the effect due to the transfer of certain securities from the held to maturity portfolio to the available for sale portfolio, which resulted in a $108,000 recovery for credit losses.

    Non-interest income increased by $209,000, or 18.4%. Gain on sale of assets increased $74,000 while fee and service charged income increased $22,000 or 10.6%, and income related to bank owned life insurance increased $90,000, or 11.5%, due to higher balances during 2024.

    For the twelve months ended December 31, 2024, non-interest expense decreased $1.2 million, or 7.4%, compared to the twelve months ended December 31, 2023. Salaries and employee benefits decreased $1.1 million, or 10.9%, as 2023 amounts included an accrual of a severance contract for the retirement of the previous President and a higher employee count when compared to 2024. Professional fees increased $129,000 or 19.5%, due to higher legal expense. Data processing increased $234,000, or 24.1%, due to higher processing costs. Other expense decreased $369,000, or 27.8%, as 2023 amounts included charges for a pending fraud claim that is under review with the insurance company.

    Income tax benefit increased $209,000, or 129.1%, to a benefit of $372,000 for the twelve months ended December 31, 2024 from a benefit of $162,000 for the twelve months ended December 31, 2023. The increase in benefit was due to $3.0 million, or 629.2%, of lower taxable income. The effective tax rate for the twelve months ended December 31, 2024 and December 31, 2023 was (14.62%) and (33.76%), respectively. The benefit would have been higher but there were valuation reserves on certain deferred tax assets as of December 31, 2024.

    Balance Sheet Analysis

    Total assets were $971.5 million at December 31, 2024, representing an increase of $32.2 million, or 3.4%, from December 31, 2023. Cash and cash equivalents increased $27.3 million during the period primarily due to loan payments received and growth in deposits and borrowings. Net loans decreased $3.0 million, or 0.4%, due to $63.8 million in repayments, partially offset by new production of $61.2 million. Due to the interest rate environment, we have seen a decrease in demand for residential and construction loans, which have been primary drivers of our loan growth in recent periods. Securities held to maturity were reclassified to securities available for sale which decreased an aggregate $1.2 million or 0.9%, due to the repayments of mortgage-backed securities and maturities of corporate bonds. Right of use assets increased $10.8 million due to new right-of-use lease assets recognized as part of the sale-leaseback transaction.

    Delinquent loans increased $1.7 million to $14.3 million, or 2.01% of total loans, at December 31, 2024. The increase was mostly due to one commercial real estate loan with a balance of $755,000 and two residential mortgages totaling $653,000, all of which are classified as nonaccrual. During the same timeframe, non-performing assets increased to $14.0 million and were 1.44% of total assets at December 31, 2024. The Company’s allowance for credit losses was 0.37% of total loans and 18.77% of non-performing loans at December 31, 2024 compared to 0.39% of total loans and 21.81% of non-performing loans at December 31, 2023. At that date, $10.9 million, or 76.0%, of the total non-performing loans consisted of one construction loan with a loan-to-value of 45%, which required no specific reserve. The Bank does not have any exposure to commercial real estate loans secured by office space.

    Total liabilities increased $32.0 million, or 4.0%, to $834.2 million mainly due to a $16.8 million increase in deposits and by a $4.5 million increase in borrowings. Lease liabilities also increased $10.8 million due to new lease liabilities recognized as part of the sale-leaseback transaction. Total deposits increased $16.9 million, or 2.7%, to $642.2 million at December 31, 2024 from $625.3 million at December 31, 2023. The increase in deposits reflected increases in NOW, money market and savings accounts, which increased by $14.7 million from $101.5 million at December 31, 2023 to $116.2 million at December 31, 2024 and by an increase in non-interest bearing accounts, which increased by $2.1 million to $32.7 million from $30.6 million at December 31, 2023. At December 31, 2024, brokered deposits were $101.6 million or 15.8% of deposits and municipal deposits were $30.7 million or 4.8% of deposits. At December 31, 2024, uninsured deposits represented 6.9% of the Bank’s total deposits. Federal Home Loan Bank advances increased $4.5 million, or 2.7%. Total borrowing capacity at the Federal Home Loan Bank is $280.4 million, of which $172.2 million is advanced.

    Total stockholders’ equity increased $116,000 to $137.3 million, which was largely unchanged from last year. The increase was due to a reduction in the accumulated other comprehensive loss on the securities portfolio of $2.9 million, offset by a net loss of $2.2 million and the repurchase of 221,130 shares of stock at a total cost of $1.7 million. At December 31, 2024, the Company’s ratio of average stockholders’ equity-to-average total assets was 14.10%, compared to 14.89% at December 31, 2023.

    About Bogota Financial Corp.

    Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC. Bogota Savings Bank is a New Jersey chartered stock savings bank that has served the banking needs of its customers in northern and central New Jersey since 1893. It operates from seven offices located in Bogota, Hasbrouck Heights, Newark, Oak Ridge, Parsippany, Teaneck and Upper Saddle River, New Jersey and operates a loan production office in Spring Lake, New Jersey.

    Forward-Looking Statements

    This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, potential recessionary conditions, real estate market values in the Bank’s lending area, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio; changes in the quality of our loan and security portfolios, increases in non-performing and classified loans, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the imposition of tariffs or other domestic or international governmental policies, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, failure to retain or attract employees and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.

    The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

     
    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (unaudited)
     
        As of
    December 31, 2024    		     As of
    December 31, 2023    		  
    ASSETS                
    Cash and due from banks   $ 18,020,527     $ 13,567,115  
    Interest-bearing deposits in other banks     34,211,681       11,362,356  
    Cash and cash equivalents     52,232,208       24,929,471  
                     
    Securities available for sale     140,307,447       68,888,179  
    Securities held to maturity (fair value of $70,699,651 at December 31, 2023)     –       72,656,179  
    Loans, net of allowance $2,620,949 and $2,785,949, respectively     711,716,236       714,688,635  
    Premises and equipment, net     4,727,302       7,687,387  
    Federal Home Loan Bank (“FHLB”) stock     8,803,000       8,616,100  
    Accrued interest receivable     4,232,563       3,932,785  
    Core deposit intangibles     152,893       206,116  
    Bank owned life insurance     31,859,604       30,987,851  
    Right of use asset     10,776,596       –  
    Other assets     6,682,035       6,731,500  
    Total assets   $ 971,489,884     $ 939,324,203  
                     
    LIABILITIES AND STOCKHOLDERS’ EQUITY                
    Liabilities                
    Deposits                
    Non-interest bearing   $ 32,681,963     $ 30,554,842  
    Interest bearing     609,506,079       594,792,300  
          642,188,042       625,347,142  
                     
    FHLB advances-short term     29,500,000       37,500,000  
    FHLB advances-long term     142,673,182       130,189,663  
    Advance payments by borrowers for taxes and insurance     2,809,205       2,733,709  
    Lease liability     10,780,363       –  
    Other liabilities     6,249,932       6,380,486  
    Total liabilities     834,200,724       802,151,000  
                     
    Stockholders’ Equity                
    Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at December 31, 2024, and 2023     —       —  
    Common stock $0.01 par value, 30,000,000 shares authorized, 13,059,175 issued and outstanding at December 31, 2024 and 13,279,230 at December 31, 2023     130,591       132,792  
    Additional Paid-In capital     55,269,962       56,149,915  
    Retained earnings     90,006,649       92,177,068  
    Unearned ESOP shares (382,933 shares at December 31, 2024 and 409,750 shares at December 31, 2023)     (4,520,594 )     (4,821,798 )
    Accumulated other comprehensive loss     (3,597,448 )     (6,464,774 )
    Total stockholders’ equity     137,289,160       137,173,203  
    Total liabilities and stockholders’ equity   $ 971,489,884     $ 939,324,203  
     
    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (unaudited)
     
        Three Months Ended     Year Ended  
        December 31,     December 31,  
        2024     2023     2024     2023  
    Interest income                                
    Loans   $ 8,522,844     $ 8,224,488     $ 33,411,221     $ 32,046,033  
    Securities                                
    Taxable     1,641,126       1,027,755       6,888,462       4,070,144  
    Tax-exempt     11,483       13,135       50,892       91,428  
    Other interest-earning assets     418,634       300,656       1,399,170       1,072,240  
    Total interest income     10,594,087       9,566,034       41,749,745       37,279,845  
    Interest expense                                
    Deposits     6,200,367       5,245,865       24,584,690       18,023,772  
    FHLB advances     1,894,789       1,382,244       6,613,845       4,282,603  
    Total interest expense     8,095,156       6,628,109       31,198,535       22,306,375  
    Net interest income     2,498,931       2,937,925       10,551,210       14,973,470  
    Provision (credit) for credit losses     (218,000 )     —       (148,000 )     (125,000 )
    Net interest income after provision (credit) for credit losses     2,716,931       2,937,925       10,699,210       15,098,470  
    Non-interest income                                
    Fees and service charges     64,285       47,382       228,685       206,763  
    Gain on sale of loans     20,232       —       31,942       29,375  
    Gain on sale of properties     9,005,245       —       9,005,245       —  
    Loss on sale of securities     (8,930,843 )     —       (8,930,843 )     —  
    Bank-owned life insurance     223,616       207,453       871,753       781,526  
    Other     36,202       27,711       141,622       121,371  
    Total non-interest income     418,737       282,546       1,348,404       1,139,035  
    Non-interest expense                                
    Salaries and employee benefits     2,345,404       3,082,176       8,750,350       9,820,128  
    Occupancy and equipment     348,778       359,937       1,467,517       1,474,107  
    FDIC insurance assessment     110,464       98,525       424,090       418,215  
    Data processing     274,889       251,485       1,203,181       969,398  
    Advertising     60,840       95,681       371,790       465,064  
    Director fees     155,699       141,639       622,799       619,650  
    Professional fees     107,129       248,526       789,646       661,045  
    Other     212,632       668,220       960,230       1,329,520  
    Total non-interest expense     3,615,835       4,946,189       14,589,603       15,757,127  
    (Loss) income before income taxes     (480,167 )     (1,725,718 )     (2,541,989 )     480,378  
    Income tax (benefit) expense     449,834       (547,958 )     (371,569 )     (162,157 )
    Net (loss) income   $ (930,001 )   $ (1,177,760 )   $ (2,170,420 )   $ 642,535  
    Earnings (loss) per Share – basic   $ (0.07 )   $ (0.09 )   $ (0.17 )   $ 0.05  
    Earnings (loss) per Share – diluted   $ (0.07 )   $ (0.09 )   $ (0.17 )   $ 0.05  
    Weighted average shares outstanding – basic     12,686,765       12,767,410       12,767,628       12,891,847  
    Weighted average shares outstanding – diluted     12,686,765       12,767,410       12,767,628       12,891,847  
     
    BOGOTA FINANCIAL CORP.
    SELECTED RATIOS
    (unaudited)
     
        At or For the Three Months Ended December 31,     At or For the Twelve Months Ended December 31,  
        2024     2023     2024     2023  
    Performance Ratios (1):                                
    (Loss) return on average assets (2)     (0.09 )%     (0.51 )%     (0.22 )%     0.07 %
    (Loss) return on average equity (3)     (0.68 )%     (3.43 )%     (1.59 )%     0.46 %
    Interest rate spread (4)     0.61 %     0.88 %     0.66 %     1.28 %
    Net interest margin (5)     1.09 %     1.35 %     1.16 %     1.71 %
    Efficiency ratio (6)     123.93 %     153.59 %     122.61 %     97.04 %
    Average interest-earning assets to average interest-bearing liabilities     113.67 %     115.71 %     114.48 %     116.95 %
    Net loans to deposits     110.83 %     114.29 %     110.83 %     114.29 %
    Equity to assets (7)     13.99 %     14.94 %     14.10 %     14.89 %
    Capital Ratios:                                
    Tier 1 capital to average assets                     13.34 %     15.24 %
    Asset Quality Ratios:                                
    Allowance for credit losses as a percent of total loans                     0.37 %     0.39 %
    Allowance for credit losses as a percent of non-performing loans                     18.77 %     21.81 %
    Net charge-offs to average outstanding loans during the period                     0.00 %     0.00 %
    Non-performing loans as a percent of total loans                     1.95 %     1.79 %
    Non-performing assets as a percent of total assets                     1.44 %     1.36 %
    (1 ) Certain performance ratios for the three-month periods are annualized.
    (2 ) Represents net income divided by average total assets.
    (3 ) Represents net income divided by average stockholders’ equity.
    (4 ) Represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of average interest-bearing liabilities. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5%.
    (5 ) Represents net interest income as a percent of average interest-earning assets. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2024 and 2023.
    (6 ) Represents non-interest expenses divided by the sum of net interest income and non-interest income.
    (7 ) Represents average stockholders’ equity divided by average total assets.
         

    LOANS

    Loans are summarized as follows at December 31, 2024 and December 31, 2023:

        December 31,     December 31,  
        2024     2023  
    Real estate:     (unaudited)          
    Residential First Mortgage   $ 472,747,542     $ 486,052,422  
    Commercial Real Estate     118,008,866       99,830,514  
    Multi-Family Real Estate     74,152,418       75,612,566  
    Construction     43,183,657       49,302,040  
    Commercial and Industrial     6,163,747       6,658,370  
    Consumer     80,955       18,672  
    Total loans     714,337,185       717,474,584  
    Allowance for credit losses     (2,620,949 )     (2,785,949 )
    Net loans   $ 711,716,236     $ 714,688,635  
                     

    The following tables set forth the distribution of total deposit accounts, by account type, at the dates indicated (unaudited).

        At December 31,  
        2024     2023  
        Amount     Percent     Average Rate     Amount     Percent     Average Rate  
        (Dollars in thousands)  
    Noninterest bearing demand accounts   $ 32,681,963       5.09 %     — %   $ 30,554,842       4.89 %     — %
    NOW accounts     55,048,614       8.62       2.53       41,320,723       6.61       1.90  
    Money market accounts     24,578,021       2.18       0.58       14,641,846       2.34       0.30  
    Savings accounts     47,001,817       7.3       1.90       45,554,964       7.28       1.76  
    Certificates of deposit     482,877,627       76.81       4.37       493,274,767       78.88       4.00  
    Total   $ 642,188,042       100.00 %     3.73 %   $ 625,347,142       100.00 %     3.42 %
                                                     

    Average Balance Sheets and Related Yields and Rates

    The following tables present information regarding average balances of assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amounts of interest expense on average interest-bearing liabilities, and the resulting annualized average yields and costs. The yields and costs for the periods indicated are derived by dividing income or expense by the average balances of assets or liabilities, respectively, for the periods presented. Average balances have been calculated using daily balances. Nonaccrual loans are included in average balances only. Loan fees are included in interest income on loans and are not material.

        Three Months Ended December 31,  
        2024     2023  
        Average     Interest and     Yield/     Average     Interest and     Yield/  
        Balance     Dividends     Cost (3)     Balance     Dividends     Cost (3)  
        (Dollars in thousands)  
        (unaudited)  
    Assets:                                                
    Cash and cash equivalents   $ 13,547     $ 191       5.61 %   $ 9,433     $ 145       6.08 %
    Loans     717,433       8,523       4.73 %     714,380       8,224       4.57 %
    Securities     175,308       1,653       3.77 %     133,241       1,041       3.12 %
    Other interest-earning assets     9,711       227       9.37 %     7,216       156       8.70 %
    Total interest-earning assets     915,999       10,594       4.61 %     864,270       9,566       4.40 %
    Non-interest-earning assets     63,511                       56,543                  
    Total assets   $ 979,510                     $ 920,813                  
    Liabilities and equity:                                                
    NOW and money market accounts   $ 67,362     $ 366       2.16 %   $ 67,510     $ 310       1.82 %
    Savings accounts     44,425       213       1.91 %     44,855       205       1.81 %
    Certificates of deposit     501,875       5,621       4.46 %     497,147       4,731       3.78 %
    Total interest-bearing deposits     613,662       6,200       4.02 %     609,512       5,246       3.41 %
    Federal Home Loan Bank advances (1)     192,196       1,895       3.92 %     137,445       1,382       3.99 %
    Total interest-bearing liabilities     805,858       8,095       4.00 %     746,957       6,628       3.52 %
    Non-interest-bearing deposits     32,734                       34,835                  
    Other non-interest-bearing liabilities     3,837                       1,454                  
    Total liabilities     842,429                       783,246                  
    Total equity     137,081                       137,567                  
    Total liabilities and equity   $ 979,510                     $ 920,813                  
    Net interest income           $ 2,499                     $ 2,938          
    Interest rate spread (2)                     0.61 %                     0.88 %
    Net interest margin (3)                     1.09 %                     1.35 %
    Average interest-earning assets to average interest-bearing liabilities     113.67 %                     115.71 %                
    1. Cash flow hedges are used to manage interest rate risk. During the three months ended December 31, 2024, the net effect on interest expense on the Federal Home Loan Bank advances was a reduced expense of $280,000.
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
    3. Net interest margin represents net interest income divided by average total interest-earning assets.
       
        Twelve Months Ended December 31,  
        2024     2023  
        Average     Interest and     Yield/     Average     Interest and     Yield/  
        Balance     Dividends     Cost (3)     Balance     Dividends     Cost (3)  
        (Dollars in thousands)  
        (unaudited)  
    Assets:                                                
    Cash and cash equivalents   $ 10,197     $ 606       5.94 %   $ 10,868     $ 568       5.23 %
    Loans     713,138       33,412       4.69 %     713,799       32,046       4.49 %
    Securities     178,684       6,939       3.88 %     144,880       4,162       2.87 %
    Other interest-earning assets     9,106       793       8.71 %     6,389       504       7.89 %
    Total interest-earning assets     911,125       41,750       4.58 %     875,936       37,280       4.26 %
    Non-interest-earning assets     59,511                       54,925                  
    Total assets   $ 970,636                     $ 930,861                  
    Liabilities and equity:                                                
    NOW and money market accounts   $ 67,561     $ 1,359       2.01 %   $ 85,663     $ 1,399       1.63 %
    Savings accounts     43,975       821       1.87 %     48,351       580       1.20 %
    Certificates of deposit     508,327       22,405       4.41 %     498,129       16,045       3.22 %
    Total interest-bearing deposits     619,863       24,585       3.97 %     632,143       18,024       2.85 %
    Federal Home Loan Bank advances (1)     175,997       6,614       3.76 %     116,816       4,283       3.67 %
    Total interest-bearing liabilities     795,860       31,199       3.92 %     748,959       22,307       2.98 %
    Non-interest-bearing deposits     31,572                       38,636                  
    Other non-interest-bearing liabilities     6,303                       4,627                  
    Total liabilities     833,735                       792,222                  
    Total equity     136,901                       138,639                  
    Total liabilities and equity   $ 970,636                     $ 930,861                  
    Net interest income           $ 10,551                     $ 14,973          
    Interest rate spread (2)                     0.66 %                     1.28 %
    Net interest margin (3)                     1.16 %                     1.71 %
    Average interest-earning assets to average interest-bearing liabilities     114.48 %                     116.95 %                
    1. Cash flow hedges are used to manage interest rate risk. During the twelve months ended December 31, 2024, the net effect on interest expense on the Federal Home Loan Bank advances was a reduced expense of $1.5 million.
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
    3. Net interest margin represents net interest income divided by average total interest-earning assets.
       

    Rate/Volume Analysis

    The following table sets forth the effects of changing rates and volumes on net interest income. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The net column represents the sum of the prior columns. Changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionally based on the changes due to rate and the changes due to volume.

        Three Months Ended December 31,     Twelve Months Ended December 31,  
        2024 Compared to Three     2024 Compared to Twelve Months  
        Months Ended December 31, 2023     Ended December 31, 2023  
        Increase (Decrease) Due to     Increase (Decrease) Due to  
        Volume     Rate     Net     Volume     Rate     Net  
        (In thousands)  
        (unaudited)  
    Interest income:                                                
    Cash and cash equivalents   $ 114     $ (68 )   $ 46     $ (37 )   $ 75     $ 38  
    Loans receivable     33       266       299       (30 )     1,396       1,366  
    Securities     369       243       612       1,108       1,669       2,777  
    Other interest earning assets     58       13       71       232       57       289  
    Total interest-earning assets     574       454       1,028       1,273       3,197       4,470  
    Interest expense:                                                
    NOW and money market accounts     (5 )   $ 61     $ 56       (328 )     288       (40 )
    Savings accounts     (12 )     20       8       (57 )     298       241  
    Certificates of deposit     45       845       890       335       6,025       6,360  
    Federal Home Loan Bank advances     676       (163 )     513       2,221       110       2,331  
    Total interest-bearing liabilities     704       763       1,467       2,171       6,721       8,892  
    Net decrease in net interest income   $ (130 )   $ (309 )   $ (439 )   $ (898 )   $ (3,524 )   $ (4,422 )
                                                     

    Contacts
    Kevin Pace – President & CEO, 201-862-0660 ext. 1110

    The MIL Network –

  • MIL-OSI: Fundamental Global Inc. Declares Cash Dividend on Its 8.00% Cumulative Preferred Stock, Series A

    Source: GlobeNewswire (MIL-OSI)

    Mooresville, NC, Feb. 14, 2025 (GLOBE NEWSWIRE) — Fundamental Global Inc. (Nasdaq: FGF) (the “Company” or “Fundamental Global”) today announced that it has declared a quarterly cash dividend on its 8.00% Cumulative Preferred Stock, Series A (the “Preferred Stock”), for the period commencing on December 15, 2024, and ending on March 14, 2025.

    In accordance with the terms of the Preferred Stock, the board of directors of the Company declared a Preferred Stock cash dividend of $0.50 per share for the period commencing on December 15, 2024, and ending on March 14, 2025. The dividend is payable on March 17, 2025, to holders of record on March 3, 2025. The Preferred Stock is currently listed on the Nasdaq Stock Market and trades under the ticker symbol “FGFPP”.

    Fundamental Global Inc.

    Fundamental Global Inc. (Nasdaq: FGF, FGFPP) and its subsidiaries engage in diverse business activities including reinsurance, asset management, merchant banking, and managed services.

    The FG® logo and Fundamental Global® are registered trademarks of Fundamental Global LLC.

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are therefore entitled to the protection of the safe harbor provisions of these laws. These statements may be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “budget,” “can,” “contemplate,” “continue,” “could,” “envision,” “estimate,” “expect,” “evaluate,” “forecast,” “goal,” “guidance,” “indicate,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “possibly,” “potential,” “predict,” “probable,” “probably,” “pro-forma,” “project,” “seek,” “should,” “target,” “view,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or other variations thereon or comparable terminology. In particular, discussions and statements regarding the Company’s future business plans and initiatives are forward-looking in nature. We have based these forward-looking statements on our current expectations, assumptions, estimates, and projections. While we believe these to be reasonable, such forward-looking statements are only predictions and involve a number of risks and uncertainties, many of which are beyond our control. These and other important factors may cause our actual results, performance, or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, and may impact our ability to implement and execute on our future business plans and initiatives. Management cautions that the forward-looking statements in this release are not guarantees of future performance, and we cannot assume that such statements will be realized or the forward-looking events and circumstances will occur. Factors that might cause such a difference include, without limitation: risks associated with our inability to identify and realize business opportunities, and the undertaking of any new such opportunities; our lack of operating history or established reputation in the reinsurance industry; our inability to obtain or maintain the necessary approvals to operate reinsurance subsidiaries; risks associated with operating in the reinsurance industry, including inadequately priced insured risks, credit risk associated with brokers we may do business with, and inadequate retrocessional coverage; our inability to execute on our equity holdings and asset management strategy, including our strategy to invest in the risk capital of special purpose acquisition companies (SPACs); our ability to maintain and expand our revenue streams including our digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers; our ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; our ability to maintain our d reputation and retain or replace significant customers; the potential impact of a challenging global economic environment or a downturn in the markets; the effects of economic, public health, and political conditions that impact business and consumer confidence and spending, including rising interest rates, periods of heightened inflation and market instability; potential loss of value of equity holdings; risk of becoming an investment company; fluctuations in our short-term results as we implement our business strategies; risks of being unable to attract and retain qualified management and personnel to implement and execute on our business and growth strategy; failure of our information technology systems, data breaches and cyber-attacks; our ability to establish and maintain an effective system of internal controls;; the requirements of being a public company and losing our status as a smaller reporting company or becoming an accelerated filer; any potential conflicts of interest or different interests between us and our stockholders; potential conflicts of interest between us and our directors and executive officers; risks associated with our related party transactions and equity holdings; and risks associated with our investments in SPACs, including the failure of any such SPAC to complete its initial business combination. Our expectations and future plans and initiatives may not be realized. If one of these risks or uncertainties materializes, or if our underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. You are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements are made only as of the date hereof and do not necessarily reflect our outlook at any other point in time. We do not undertake and specifically decline any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect new information, future events or developments.

    Investor Contact:

    investors@fundamentalglobal.com

    The MIL Network –

  • MIL-OSI Security: Founder of Miami-Based Cryptocurrency Token CluCoin Sentenced for Wire Fraud

    Source: Office of United States Attorneys

    MIAMI – The founder of CluCoin, a cryptocurrency token project in Miami, was sentenced to 27 months in prison, followed by three years of supervised release and ordered to pay restitution and forfeit assets in the amount of $1.14 million. The sentence comes after the defendant pleaded guilty to wire fraud in August 2024.

    Austin Michael Taylor, 41, of Sykesville, Maryland, was the founder of a cryptocurrency project CluCoin and owner of CLU LLC, a company incorporated and headquartered in Miami-Dade County, Fla., that handled CluCoin’s operations.

    Taylor leveraged his sizable social media following to generate interest in a digital token he called “CLU.” Taylor generated interest in CLU’s initial coin offering (ICO), which is a capital raising event in which an entity offers investors a unique digital token in exchange for a more established cryptocurrency or fiat currency. Taylor created a “white paper” for CluCoin, which was meant to educate and entice investors to participate in the ICO, which promised to have a charitable focus. After raising investor funds, Taylor successfully launched CluCoin’s ICO on May 19, 2021. Taylor then shifted CluCoin’s focus to other projects he devised: the minting of non-fungible tokens (NFTs), the development of a computer game and a metaverse platform.

    Taylor organized and paid for an event called “NFTCon: Into the Metaverse,” which took place in a hotel in Miami on April 4 and 5, 2022, to drive interest and investment in CLU, CluCoin and related projects. Shortly after the conference, in May 2022, Taylor gained the ability to make withdrawals from the cryptocurrency address he controlled into which a portion of the CLU investor funds automatically flowed. From May through December 2022, Taylor sent approximately $1.14 million in investor funds to his personal account at a virtual currency exchange and then used the funds at multiple online casinos, where he lost these investor funds to gambling.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida and Acting Special Agent in Charge Justin E. Fleck of the FBI, Miami Field Office, announced the sentence imposed by U.S. District Judge Jacqueline Becerra.

    FBI Miami and the Washington Field Offices investigated the case. Assistant U.S Attorney Manolo Reboso prosecuted the case. Assistant U.S. Attorney Emily Stone is handling asset forfeiture.

    Identified victims were notified via NFT. If you invested in CLU, believe you are a victim, and/or received an NFT, please visit https://www.fbi.gov/CluCoinInvestors to provide relevant information to the FBI.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 24-cr-20308.

    ###

    MIL Security OSI –

  • MIL-OSI Security: West Virginia Man Sentenced for Bank Robbery 1

    Source: Office of United States Attorneys

    LEXINGTON, Ky. – A West Virginia man, Richard Hudson, 72, was sentenced on Friday, by U.S. District Judge Danny C. Reeves, to 139 months, for bank robbery by intimidation.  

    According to his plea agreement, on February 15, 2024, Hudson robbed the Traditional Bank on Tates Creek Road in Lexington.  Hudson approached a teller, placed a grocery bag and a note on the counter, and demanded that the teller empty the contents of her drawer into the bag.  The teller did so and attempted to hand the bag back to Hudson, who then demanded for her to empty the bottom drawer as well.  The teller did so, and Hudson was able to obtain $14,106 during the robbery.  He fled the scene and was eventually apprehended in Charleston, WV.  Hudson, a career offender, has robbed a series of banks across the Nation since the 1980s.

    Under federal law, Hudson must serve 85 percent of his prison sentence.  Upon his release from prison, Hudson will be under the supervision of the U.S. Probation Office for three years. 

    Paul McCaffrey, Acting United States Attorney for the Eastern District of Kentucky; Michael Stansbury, Special Agent in Charge, FBI, Louisville Field Office; and Chief Lawrence Weathers, Lexington Police Department, jointly announced the sentence.

    The investigation was conducted by the FBI and Lexington Police Department.  Assistant U.S. Attorney James T. Chapman prosecuted the case on behalf of the United States.

    — END —

    MIL Security OSI –

  • MIL-OSI USA: Kennedy, Thune, colleagues introduce bill to permanently repeal the death tax

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, joined Senate Majority Leader John Thune (R-S.D.) and 44 other colleagues in introducing the Death Tax Repeal Act to end the federal estate tax for Americans.

    Current law requires Americans to pay the federal estate tax when a property, business or land is transferred to them after an individual passes away.

    “The government shouldn’t discourage Louisiana’s farmers or landowners from keeping family businesses alive when a person passes away. I’m proud to join my colleagues in introducing the Death Tax Repeal Act to support America’s family-run businesses,” said Kennedy.

    “Family farms and ranches play a vital role in our economy and are the lifeblood of rural communities in South Dakota. Losing even one of them to the death tax is one too many. It’s time to put an end to this punishing, burdensome tax once and for all so that family farms, ranches and small businesses can grow and thrive without costly estate planning or massive tax burdens that can threaten their viability,” said Thune.

    Sens. Jim Banks (R-Ind.), John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), John Boozman (R-Ark.), Katie Britt (R-Ala.), Ted Budd (R-N.C.), Shelley Moore Capito (R-W.Va.), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), Ted Cruz (R-Texas), John Curtis (R-Utah), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.), Lindsay Graham (R-S.C.), Chuck Grassley (R-Iowa), Bill Hagerty (R-Tenn.), Josh Hawley (R-Mo.), John Hoeven (R-N.D.), Cindy Hyde-Smith (R-Miss.), Ron Johnson (R-Wis.), Jim Justice (R-W.Va.), James Lankford (R-Okla.), Mike Lee (R-Utah), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Mitch McConnell (R-Ky.), Dave McCormick (R-Pa.), Jerry Moran (R-Kan.), Bernie Moreno (R-Ohio), Markwayne Mullin (R-Okla.), Pete Ricketts (R-Neb.), Jim Risch (R-Idaho), Mike Rounds (R-S.D.), Eric Schmitt (R-Mo.), Rick Scott (R-Fla.), Tim Scott (R-S.C.), Tim Sheehy (R-Mont.), Thom Tillis (R-N.C.), Tommy Tuberville (R-Ala.), Roger Wicker (R-Miss.) and Todd Young (R-Ind.) cosponsored the bill. 

    Rep. Randy Feenstra (R-Iowa) introduced the legislation in the House of Representatives.

    The full bill text is available here.

    MIL OSI USA News –

  • MIL-OSI: Orca Announces Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    TORTOLA, British Virgin Islands, Feb. 14, 2025 (GLOBE NEWSWIRE) — Orca Energy Group Inc. (“Orca” or the “Company”) (TSX-V: ORC.A, ORC.B) today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 (Cdn) per Class A Common Voting Share (“Class A Shares“) of the Company and $0.10 (Cdn) per Class B Subordinate Voting Share (“Class B Shares“) of the Company. The dividend will be payable on April 14, 2025 to holders of Class A Shares and Class B Shares of record on March 31, 2025.

    About Orca Energy Group Inc.

    Orca is an international public company engaged in natural gas exploration, development and supply in Tanzania through its subsidiary PanAfrican Energy Tanzania Limited. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B.

    For further information please contact:

    Jay Lyons
    Chief Executive Officer
    ir@orcaenergygroup.com
    +44-20 8434 2643

    Lisa Mitchell
    Chief Financial Officer
    ir@orcaenergygroup.com
    +44-20 8434 2643

    For media enquiries:
    Celicourt (PR)
    Mark Antelme
    Jimmy Lea
    Orca@celicourt.uk
    +44-20 8434 2643

    Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI USA: Wyden Releases Draft Bill to Secure Americans’ Communications Against Foreign Surveillance Demands

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)
    February 14, 2025
    Bill Fixes Loopholes in Flawed U.S. Law Used to Demand Apple Build Backdoors for iCloud Accounts, Putting Americans’ Security at Risk
    Washington, D.C. – U.S. Senator Ron Wyden, D-Ore., today released a discussion draft of the Global Trust in American Online Services Act to secure Americans’ communications against abusive foreign demands to weaken the security of communications services and software used by Americans.
    The bill reforms the CLOUD Act, which permits foreign governments to make surveillance demands directly of U.S. companies rather than going through the U.S. legal system.
    “Foreign governments shouldn’t get a cheat code to undermine the security of American technology,” Wyden said. “My bill would fix the loopholes in the CLOUD Act, and modernize the law so American allies can request the information they need to investigate serious crimes without sacrificing the security of Americans’ communications services.”
    According to news reports, the United Kingdom issued a secret order to Apple last month, directing the company to weaken the encryption protecting its iCloud backup service. The U.K. was apparently able to secretly issue the order to Apple, rather than seeking assistance from the Department of Justice (DOJ) because of the CLOUD Act. Wyden and Representative Andy Biggs, R-Ariz., urged Director of National Intelligence Tulsi Gabbard to demand the U.K. withdraw its order in a letter on Thursday.
    The CLOUD Act, enacted in 2018, enables foreign countries to obtain data directly from U.S. firms, bypassing the U.S. legal system once they enter into an agreement with the Justice Department. However, the CLOUD Act failed to require foreign countries to adopt the same due process requirements long guaranteed under U.S. law, enabling foreign governments to demand that U.S. technology companies weaken the security of products used by Americans and putting global trust in U.S. firms at risk.
    The Global Trust in American Online Services Act addresses serious flaws in the CLOUD Act, to ensure that U.S. technology companies can continue to maintain the trust of their international customers, and that the U.S. can compete globally as a safe place for data. The legislation would:
    Prevent foreign governments from using the CLOUD Act to require U.S. providers to adopt specific designs for products, reduce the security of a product, or deliver malware to a customer.
    Allow U.S. providers to challenge foreign CLOUD Act orders in U.S. federal court.
    Require Congressional approval of CLOUD Act agreements rather than the current disapproval mechanism, and enable oversight by requiring that each agreement sunset after five years rather than lasting indefinitely.
    The draft bill is available here. A one-page summary of the bill is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Warner and McConnell Introduce Vital Bill To Support Bourbon Production And Environment

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) and U.S. Sen. Mitch McConnell (R-KY) announced today the introduction of the White Oak Resilience Act of 2025, which will mobilize greater federal resources and direct research into safeguarding our nation’s White Oak tree population.

    White Oak trees are vital to the environmental ecosystem, as well as several trademark American industries, like bourbon and furniture production. Considered the most important hardwood tree in the eastern United States, White Oak trees provide sustenance and shelter for a host of wildlife species across the country.

    White Oak trees can take up to 25 years to reach full maturity, but a lack of seedlings has created an impending shortage that threatens the future of this species and the billions of dollars in economic impact they generate nationwide. This bipartisan legislation will help reverse the depletion of this iconic tree and address the threat its extinction poses to the American economy.

    “Kentucky bourbon is synonymous with the White Oak tree, used to age our state’s signature spirit in its wooden barrels. As we face an impending White Oak shortage, I’m proud to introduce bipartisan legislation that will help protect this species and preserve Kentucky’s iconic bourbon industry that bolsters our economy and supports thousands of jobs across the Commonwealth. This is commonsense conservation at its best,” said Senator McConnell. 

    “Virginia is home to one of the highest concentrations of White Oak trees in the country, and they play an indispensable role in our ecology and our economy,” said Senator Warner. “These trees have tremendous utility as both food for many species and material for the forestry industry, but without further action, we could face a severe shortage soon. I’m glad to sponsor bipartisan legislation that will get ahead of that crisis by bolstering a plan to regenerate our White Oak trees, keeping Virginia beautiful and investing in one of the forestry industry’s most valuable species.”

    In a statement from Brown-Forman, the largest American-owned spirits and wines company: “We are pleased to see the introduction of the White Oak Resilience Act to the Senate. Brown-Forman depends on healthy forests to provide the White Oak for our bourbon barrels. White Oak barrels are more than just a container, they’re an important ingredient that provides all of the color and more than half the flavor to our whiskeys. We are committed to the conservation of the existing hardwood forests we rely on and have undertaken several initiatives to support sustainable forestry practices. We are appreciative of the leadership from Senators McConnell and Warner, supporting this key legislation will provide critical resources for White Oak restoration.”

    “Sazerac commends Senators McConnell and Warner for introducing the Senate companion to HR 5582, the White Oak Resilience Act. Although Sazerac has locations in numerous states, we have distilleries in both Kentucky and Virginia (Buffalo Trace and 1792 in Kentucky; A. Smith Bowman in Virginia) making it particularly significant that these two senators have come together to recognize the importance of this species. The spirits industry has found the ideal wood in White Oak for our barrels and has endeavored to regenerate it for years to come,” said Elizabeth Wise, Chief Global Government and Public Affairs for Sazerac.

    “Kentucky Bourbon is an iconic industry with a history of finding ways to endure and prosper through multitudes of opportunities and challenges. Just like the Bourbon that ages in barrels made from its wood, White Oak trees and the land they grow on must go through a special process to ensure the species remains available long into the future,” said Kentucky Distillers’ Association President Eric Gregory. “With industry champions like Senator McConnell and Senator Warner leading the way, The White Oak Resilience Act is one more piece of the puzzle to guarantee that Kentucky Bourbon – America’s native spirit – can be enjoyed for generations to come.”

    “On behalf of the University of Kentucky, I want to extend our sincere thanks to Senators McConnell and Warner for introducing the White Oak Resilience Act that addresses White Oak sustainability, which is crucial to Kentucky’s signature bourbon industry. The research this measure directs will allow us to leverage our scientific expertise, particularly in genetics and genomics, to support the health and resilience of White Oak tree populations. As a land-grant institution committed to the Commonwealth’s economic development, we are well-positioned to translate our findings into practical applications for the bourbon industry,” said University of Kentucky President Eli Capilouto.

    “White Oak is a keystone species that supports over 500 types of wildlife while also bolstering rural economies and providing wood products to cities and towns across America,” said Jason Meyer, Executive Director of the White Oak Initiative. “We’d like to thank Senators Warner and McConnell for their leadership in bringing this bill forward and working together to ensure a long, sustainable future for this critical American resource.”

    “Virginia’s upland oak forests are incredibly important for wildlife and sustainable forestry, and are facing many challenges,” said Virginia State Forester Robert W. Farrell. “The White Oak Resilience Act will help Virginia’s forest landowners care for their hardwood forests and ensure White Oak is on the Virginia landscape for generations to come.”

    MIL OSI USA News –

  • MIL-OSI USA: Defense Secretary Pete Hegseth and Polish Deputy Prime Minister Wladyslaw Kosiniak-Kamysz Hold Joint Media Availability

    Source: United States Department of Defense

    UNKNOWN: Good morning, everyone. Welcome to the press conference in the Ministry of National Defense. We have here Deputy Prime Minister, Minister of National Defense Wladyslaw Kosiniak-Kamysz and Secretary of Defense of the United States, Mr. Pete Hegseth. Deputy Prime Minister, can you please take the floor?

    DEPUTY PRIME MINISTER KOSINIAK-KAMYSZ: Good morning. Good morning, everyone. It is a great moment. It is a great moment for myself, for my wife, together with whom we are hosting Secretary of Defense of the United States together with his wife. Welcome very cordially. Thank you for choosing Poland as the first venue of your first official bilateral visit, that you decided to come to Poland.

    It is a testimony to our partnership. It is also a testimony to our friendship and shared strategy of security for the United States, for Poland, Europe and the whole world. That is our great duty. It is a great honor for myself to host Secretary Pete Hegseth to Poland today and talk about the most important challenges related to the security of Poland, the United States, Europe and the world.

    Thank you very much for a very good discussion. Well, first, we had a [Inaudible] and then we had a bilateral meeting with delegations to talk about our alliance and the North Atlantic Treaty Alliance. Polish American Alliance has never been as strong as it is today, and we can do everything possible to make it even stronger overnight.

    And this is what we agreed on, that we will have a joint investment and shared security guarantees, as well as increasing capabilities. Poland is a country that understands threats, that it can see it, and we can sense it. We have our own history and we know how it happened, that in our country, in our beloved homeland, the war was waged. We were deprived of our own independence for years.

    For years, we didn’t also have the self-determination capacity when we restored it. We know how important security is, how important freedom is and peace. The values that bring us together need strength. Freedom needs strength. The peace also needs strength. Security takes a lot of strength, and that strength is not possible without spendings, without the money that we have to spend on security, without increasing our capabilities and investment in our armed forces, the alliance and the society.

    We know this perfectly well and this is something that we definitely share. Thank you very much for that. Poland is an example of such a such a country and Secretary of Defense gave an example of Poland in public in Brussels, that Poland is actually an example how to care for our own security and the allied security.

    Because whatever we do, the protection of our borders, five percent of defense spending is modernization and transformation of the Polish armed forces, the acquisition of the state-of-the-art equipment from our strategic partner in the area of defense, which is the United States and this is an absolute priority for our country.

    Everyone in Poland absolutely accepts that and agrees with that. We want to thank our taxpayers, thanks to whom we are able to execute that great plan of the transformation of the Polish Armed Forces. Without them, it would not be possible. We can do that, thanks to them, because they contribute to this and they understand this.

    Poland is a country that understands that the greater defense spendings are definitely a must. Europe must spend more. This is the message with which Secretary of Defense came to the meeting of defense ministers of the alliance. Well, we must spend more to protect our territory better and the United States wants to cooperate.

    And the United States will do everything possible to be together for the alliance to be stronger and stronger, but Europe also must demonstrate its contribution. We understand this perfectly well and we are true to our commitments. We are true to our allied obligations. We were together in Iraq. We were together in Afghanistan.

    We were in different anti-terror missions. After the terrorist attacks in the United States, we were the first country that was ready to support the US and we continue to do so. We will support the United States. We are a steadfast and loyal ally and thank you very much for the presence of the American troops in Poland.

    It is incredibly important for us. It is crucial and it gives us a sense of security and it really provides tangible security. We want to thank for every single American serviceman and servicewomen training together with Polish troops for giving us strengths and capabilities and our power. You are very much welcome here.

    Come to us. This is your home, and you will always be treated like that because it is a great privilege for us and a great pleasure. I am also very happy with our conversation about the future, further spendings that we want to make in the United States, further acquisitions. We will definitely continue that effort.

    We also want to develop the cooperation of our defense industries. We also talked about that investment joint venture, Polish American Investment to increase the capabilities for our production, especially the capacity to produce munitions and the capacity for armament, production that is not sufficient in Europe.

    Europe must wake up. Europe must invest in defense industry and we want to create joint venture companies with the United States to be able to use these resources better. Poland can and should be a hub of infrastructure for maintenance, for economy and businesses of the United States. Our strategy is to be like a transatlantic bond, bringing the United States and Europe together because Poland is best prepared to do that and Poland understands best all the actions that are undertaken by the United States today.

    And I think that Poland has very good awareness of the situation. After this conversation, I am absolutely convinced that it is the case. We want to be a service hub that will be used for the American equipment used by our allies along the eastern border of NATO. We also talked about illegal migration that we stop at the Polish Belarusian border.

    We talked about the challenges the United States is also facing to this extent and very good information that I want to share with you. You know that there is the review of different spendings in the United States, that there are different executive orders that were issued by President Trump and the objective is to review the justification of the spendings.

    But there is something as foreign military financing. This is the fund that is used to modernize, for example, the Polish armed forces and we use it, billions of dollars. And that executive order of President Trump about freezing the funding of different programs to support modernization and transformation, they do not apply to Poland.

    Thank you very much, Secretary of Defense for the decisions about the that, for a very clear presentation of the case. It is a great example and we are ironclad partners. We are friends for better and for worse, for good times and worse times. We are together with each other, Poland and the United States.

    The United States and Poland are true and loyal friends and our cooperation will be even at a higher level.

    UNKNOWN: Thank you. Now, Pete Hegseth, the Secretary of Defense of the United States.

    SECRETARY HEGSETH: Well, thank you, Mr. Deputy Prime Minister. Thank you for your incredibly strong words, which I echo and concur completely. Our friendship, our bond is ironclad and we came here specifically to reinforce that. I also want to thank your wife for being a part of this as well today, and your entire delegation.

    The warmth of the Polish people is very, very clear. It is a privilege to be here and I do want to emphasize that it’s quite intentional that our first European bilateral is right here in Poland. The symbolism is not lost, in fact, it is intentional. We see Poland as the model ally on the continent, willing to invest not just in their defense, but in our shared defense and the defense of the continent.

    Our relationship is strong and growing stronger every day. Poland, a strategic frontline partner on NATO’s eastern flank. Poland, a staunch US ally. Poland, a, as I said, model ally, not only in words. Words are cheap, but in deed and in actions. Poland leads by example, on a lot of things, including defense spending, building up Polish military readiness.

    Yesterday in Brussels, we both talked a lot about spending and the need for hard power. Diplomacy is important. Talk is important. Negotiations are important. But ultimately, beans and bullets and tanks and helicopters and hard power still matters. Poland understands that and so do we. They’re exceeding NATO burden sharing commitments and we’re looking for even more ways to partner.

    You mentioned joint ventures, strategic partnerships. We are open and look forward to further solidifying how we can work together as it pertains to our defense industrial bases. We want to achieve peace through strength together. Deterrence, that defense industrial base, that’s Apaches, F-35s, HIMARS, Patriots, you name it. The more you have, the stronger we are.

    The more we can cooperate with those systems, the more interoperable our capabilities are, the better. I also want to thank you and the Polish people for the outstanding support of our forces that are deployed here. We have over 8,000 American troops in Poland. I had a chance to spend the morning with some of some of those US troops.

    We ran the streets of Warsaw this morning in the snow. I’m from Minnesota, so I was used to it. It was about 25 to 30 US Soldiers and Marines, had a chance to talk to them while we ran and did push-ups. And I asked them about their experience here in Poland and some worked directly with troops, others worked in military sales.

    Some work in POW and MIA remains recovery still. Each one of them had nothing but gushing compliments for the Polish people, for the Polish military, for the amount of support that they receive, for the true partnership, for the eagerness with which Polish troops work alongside American troops. We’ve seen plenty of examples across the globe as the United States of America, or where you work with allies who sometimes you wish wanted it just as much as we did.

    That’s not a problem we have with Polish troops or here in Poland, and we thank you and we thank your military for the immense amount of support they provide to ours. We also, investments by Poland makes it easier for us to be here as well. Generous contributions from the Polish Treasury for infrastructure and logistics support for our troops to be here reduces the US taxpayer burden.

    I know that’s something that President Trump worked with Poland on his first four years in office. We will continue to do that together as well. The level of partnership, just to underscore here, is unmatched in Europe. The common bond between our forces is unlike others in Europe. We have a shared warrior ethos, which we talked about, something I’m emphasizing, we’re emphasizing at Donald Trump’s Department of Defense.

    We’re ready, we’re lethal, we’re capable and we want to reinvest the warrior spirit. We want to rebuild our military and reestablish deterrence. I heard the exact same things from you and from your leadership in our bilateral meeting, which is incredibly encouraging. No truer friend, no tougher foe than the Polish soldier.

    As I mentioned, we saw it in Iraq, we saw it in Afghanistan and it goes all the way back to World War II and Market Garden. The Polish military has stood alongside America and we stand alongside you. So, thank you again for that robust partnership, for being a friend around the table of nations. Yes, at NATO, we are all friends, but sometimes you look out and see those that say we are with you when there are tough conversations to be had and you were, and I know you will be. We look forward to leading those conversations and ensuring our deeds match our words, and your friendship is incredibly valued.

    On behalf of the American people, thank you for welcoming us. It’s an honor to be here, sir. Thank you.

    UNKNOWN: Now we have time for four short questions. The first question, Jan Piotrowski, TVN 24.

    Q: — Hegseth. Sir, just recently you’ve ruled out the possibility of restoring Ukrainian pre-2014 borders, but do you believe that there is a possibility to restore the border as it was before the full-scale invasion back in February 2022? Thank you.

    SECRETARY HEGSETH: Thank you for the question, sir. I think anything is possible. I, as the Secretary of Defense, have a specific lane of the portfolio of what America is representing inside these negotiations. So, my job today and in Brussels was to introduce realism to the conversation, the reality that returning to 2014 borders as part of a negotiated settlement is unlikely.

    The reality of US troops in Ukraine is unlikely. The reality of Ukraine membership in NATO as a part of a negotiated settlement, unlikely. And I stand by the comments that I made on that first day in the Ukraine contact group and that’s for all the press out there who it’s difficult for them to understand that.

    We stand by the statements we made in reality about the status of US forces or Ukraine’s involvement in NATO and the unlikely nature of that. That said, I would never put constraints around what the president of the United States would be willing to negotiate with the sovereign leaders of both Russia and Ukraine.

    I’m not here to put a left and right limit on those discussions. We’ve been here just simply to introduce realism into the expectations of our NATO allies to incentivize the opportunity for that negotiation. So, what those borders ultimately look like, sir, remains to be seen and I think is part of the discussion that would be had between our President, Zelenskyy, Putin and likely Europe’s involvement in those discussions as well.

    Thank you, sir.

    Q: Mr. Secretary, are US troops in Ukraine on the table? Vice President Vance says it is. And [untranslated], under what condition would Poland send forces to Ukraine as part of a peacekeeping mission?

    SECRETARY HEGSETH: Well, the president has said multiple times inside his framework for discussions of this, and I just want to lay out that these are not comments or statements that I make in a vacuum or make without direct consultation with our team. So, President Trump’s national security team, from Mike Waltz to the vice president to Secretary of State Marco Rubio, we’re all on the same page.

    And our job is to ensure that our commander in chief, the president of the United States, has the full spectrum of options to bring this conflict, to bring the killing to an end, to an end. And my message to the Ukraine contact group was I do not believe as a part of those negotiations that US troops will be on the ground.

    You can say that and I believe that to be true. That’s what President Trump has said. That is what he has emphasized, that this is a for Europeans to resolve alongside Ukraine and Russia and that US boots will not be on the ground. Again, negotiations happen, the president has latitude and what happens in those negotiations is his prerogative because he is the American people’s representative on the world stage.

    There’s no daylight in those conversations. There’s no daylight between myself and the vice president. We are collective advocates on behalf of the president. He reserves the right to have any option as he discusses troops and partnerships and investment opportunities and front-line limits. Those are all what President Trump will negotiate with his counterparts.

    DEPUTY PRIME MINISTER KOSINIAK-KAMYSZ: [Inaudible] just started. I would like to thank for this question. The negotiation, which President Trump chairs, is just the first step. We’ve talked about it. Well, some thought that this is the finale, that this is the end. Well, it was just launched and it is worthwhile not only in Poland, but also in Ukraine across the world to realize.

    And what just was said by Pete Hegseth, what will be the finale, it is to be seen. It is in front of us. What is for sure, we need to be strong and united as allies and this is what we have between Poland and the United States. Poland has been doing a lot to support Ukraine. We’ve been doing that from the first day.

    Without the Polish participation, we could not be able to send assistance to Ukraine. 95 percent of hardware humanitarian assistance goes through logistical hub in Poland, and this has been happening for three years. We’ve been securing this. We’ve involved our forces which are protecting this process. We would like to thank our allies from the US, other countries, that they are supporting this transfer process and protection process of the donations which have been transferred to Ukraine.

    And this is the role for Poland, of the logistical support in many issues rather than sending our troops to Ukraine, what we can do for sure. And I think we’re going to do it together soon to send our companies, joint venture companies or joint venture partnerships to Ukraine. The companies investing in the defense industry also using various capabilities to elevate the level of security of Ukraine and the eastern flank of NATO developing these possibilities.

    If we invest in Ukraine, the United States, Europe and Poland, this is a great guarantee of security. I think it is also in the strategy that the United States is presenting broadly and this is also going to be a subject of the discussion. So, our role as a logistical support that we’ve been doing, it is very important.

    Without that, we could not support fighting Ukraine and the peace in Ukraine.

    UNKNOWN: Thank you very much. Next question, there will be two more questions.

    Q: Mr. Secretary, would the US consider lowering troops number in eastern Europe as a part of the deal with Russia, or would it consider giving up its permanent military presence in Poland?

    SECRETARY HEGSETH: Well, I will state definitively as I did in Brussels, that America is committed to the NATO alliance. Our message has been – and as we discussed, we believe, heard loud and clear that member countries in NATO need to spend more, need to invest more, need to have more skin in the game for their collective defense.

    That is not just a suggestion from the United States of America, that is a direct request, which we will follow up on as a reflection of their desire and commitment to actually defend their own backyard. That’s a serious aspect of NATO becoming a serious alliance in the future. As I mentioned, you can have as many flags as you want, but if you don’t have hard power, you’re not an actual alliance.

    And unfortunately, our adversaries look at that and they judge accordingly. Right now, on the continent, the American presence is robust and it has been. And that partnership is real and important. And the troops that we have here in Poland is an investment in that, is a recognition of that. And frankly, the invitation we receive here, if anything, would make me want to welcome more troops to Poland, as the Secretary of Defense.

    That’s not a policy statement. That’s just how I feel. The welcome is warm. At the same time, our president is in the middle of negotiations, but he has recognized, as have I, that American presence on the continent is important to deter Vladimir Putin and send that signal of solidarity. But I think it’s really important what the deputy prime minister said.

    This is the beginning of negotiations. I’m not here to set the terms of how my president of the United States will debate this. I’m here to give him my best military advice alongside him of what may or may not be most useful to reach the peaceful end state that we want. From my perspective, the American troop levels on the continent are important.

    What happens five or 10 or 15 years from now is part of a larger discussion that reflects the threat level, America’s posture, our needs around the globe, but most significantly, the capability of European countries to step up. And that’s why our message is so stark to our European allies, now is the time to invest because you can’t make an assumption that America’s presence will last forever.

    America has to stare down a lot of threats to include, as I mentioned, the Communist Chinese and if that’s the case, then countries like Poland and others will continue to step up. But as of today, we are very proud of our partnership in Europe. Thank you.

    UNKNOWN: [Inaudible] Fox News [Inaudible].

    Q: — Fox News. These questions are for both you gentlemen. Do you believe the warnings from NATO allies that allowing Putin to keep Ukrainian territory, will one day embolden him to launch future attacks, perhaps even invade the eastern flank of the NATO alliance? Is this Yalta 2.0 or perhaps even Munich 2.0? Do you trust Vladimir Putin to live up to any potential agreement?

    And finally, in light of the Russian drone attack on Chernobyl last night, should there be a ceasefire during these negotiations? Thank you.

    SECRETARY HEGSETH: Do you want to go? Go ahead.

    DEPUTY PRIME MINISTER KOSINIAK-KAMYSZ: Well, what I believe is the strength which protects us from evil. On the strong, we are able to defend ourselves from Putin on the strength the terrorists in our freedom. Our freedom will not be protected by beautiful words, by diplomatic meetings. Our freedom and independence will be only defended and protected by the strength of our alliance.

    This is the only thing that can protect us, nothing else. And we’ll never have a calm day. There are no calm days across the world. There are only those who have slept the last 30 days, years, because they thought that they lived in the calm world. The world will never be calm. The world will also always require from us activity.

    We always need to invest that. We have to remember that Putin or other dictator may come, which can threaten our security. It never ends. This is what history teaches us. And I think it was a bit too good for us. For some, it was too good. Maybe they didn’t have the experiences that we’ve had in Poland, that they just slept over this time.

    And right now, it’s time to wake them up and the voice which came from Brussels, from Pete Hegseth, and more spending was finally heard. We’ve been talking about, we’ve been showing that and we need it. Not to replace the American troops in Europe because without them the world and Europe will not be saved.

    But to maintain them to keep them, Europe must show that they want it, not in the words but in the deeds and many European countries is already doing that, but many more needs to do it and we want to do it. So, there is no other security guarantee than your strength.

    SECRETARY HEGSETH: Well, I appreciate those words and I agree. First, your second question on a ceasefire, I think the president has stated that that could be part of a good faith aspect of the beginning of negotiations, which the president’s goal is to stop the killing and the violence and the death. Part of doing that could be a ceasefire, and that could be a welcome development.

    As far as Vladimir Putin being emboldened, he’s going to declare victory no matter what. You can expect that no matter what the outcome is. Thankfully, the bravery of the Ukrainians and allies that came alongside them, especially early in the war, deterred and defeated Vladimir Putin from achieving what he wanted, which was all of Ukraine.

    So, now you have a more defined front line and whether he declares victory or not will be up to him. Whether he’s emboldened speaks exactly to what the deputy prime minister talked about and NATO’s willingness to step up. If NATO’s response to this situation is to truly increase capabilities, truly increase inputs and spending to think more like Poland, to think more like the Baltics who are closer to the threat and recognize the reality of the threat, then I don’t think Vladimir Putin will be emboldened by this outcome.

    It will be a recognition that the collective ability of the west to deter him was something that actually happened. Is there trust there? No. I mean, you don’t have to operate under a position of trust in order to negotiate a deal. But again, I’m the Secretary of Defense, it’s not my job to read the mind of Vladimir Putin.

    President Trump will be the one at the table with Zelenskyy and Putin. You don’t have to trust somebody in order to negotiate with them. But as Ronald Reagan said, if you don’t trust, you need to verify and so there will be a follow up and ensuring that whatever peace is negotiated is a lasting and enduring peace.

    UNKNOWN: Thank you, gentlemen. Thank you, prime minister and secretary.

    DEPUTY PRIME MINISTER KOSINIAK-KAMYSZ: Thank you one more time.

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