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  • MIL-OSI Global: Commerce oversees everything from weather and salmon to trade and census − here are 3 challenges awaiting new secretary

    Source: The Conversation – USA – By Linda J. Bilmes, Daniel Patrick Moynihan Senior Lecturer in Public Policy and Public Finance, Harvard Kennedy School

    Howard Lutnick, left, is President Donald Trump’s nominee to run the Commerce Department. AP Photo/Evan Vucci

    The U.S. secretary of commerce oversees the smallest but arguably most complex of all Cabinet-level departments.

    Established as a distinct entity in 1913, it has evolved into a sprawling organization with 13 bureaus spanning a wide variety of critical areas that include weather forecasting, conducting the census, estimating gross domestic product, managing fisheries, promoting U.S. exports, setting standards for new technology and allocating radio frequency spectrum. It is even home to one of America’s eight uniformed military services, the NOAA Commissioned Officer Corps with its own fleet of ships, aircraft and 321 commissioned officers. Its main mission is to monitor oceans, waterways and the atmosphere in support of the National Oceanographic and Atmospheric Administration.

    As a result, there is no other Cabinet position that has to engage with lawmakers in Congress across so many disparate technical issues, committees and stakeholders. This medley reflects both the historical evolution of the U.S. economy and a degree of political happenstance.

    I served at the Commerce Department in several roles, including as chief financial officer and assistant secretary for administration, management and budget, and have watched several administrations attempt to craft an overarching strategic narrative around this diverse set of missions.

    Besides the difficult job of formulating a unifying strategy for the department’s many activities, I believe there are three specific challenges in particular that await the next secretary, a position that requires Senate confirmation.

    The Commerce Department manages salmon as part of its National Marine Fisheries Service.
    AP Photo/Manuel Valdes

    Commerce: A sprawling bureauocracy

    From its earliest days, the Commerce Department has collected trade statistics, overseen lighthouses and issued patents and trademarks. But since then, its portfolio has expanded significantly.

    In 1970, NOAA was placed inside Commerce, partly as a result of a feud between President Richard Nixon and his interior secretary, Wally Hickel, over the Vietnam War. NOAA now accounts for more than half the department’s US$11 billion budget and has created some peculiar departmental overlaps.

    As President Barack Obama joked in his 2011 State of the Union speech, “The Interior Department is in charge of salmon while they’re in freshwater, but the Commerce Department handles them when they’re in saltwater.”

    While the joke wasn’t quite accurate – a division of Commerce manages salmon in both fresh and saltwater, though Interior does restore their habitat – it does reflect some odd situations. For example, when it comes to sea turtles, Interior oversees their nests on shore, whereas Commerce protects them in the open sea.

    Due to the department’s broad interests, the commerce secretary has a role in nearly every important issue facing the country.

    He or she needs to be a quick study who is able to multitask, respond to congressional inquiries on a myriad of topics, as well as manage a 50,000-strong workforce including economists, scientists, statisticians, meteorologists and other experts.

    One example of the caliber of experts Commerce oversees is the National Institute for Standards and Technology, which does cutting-edge research in bioscience, artificial intelligence, materials science and industrial measurement standards. The institute currently has five Nobel laureates in physics and chemistry on its staff and is on the front lines on cybersecurity and national defense.

    While it’s unclear how Trump nominee Howard Lutnick plans to unify Commerce’s work, the previous secretary, Gina Raimondo, outlined five strategic goals for her department, including driving U.S. global competitiveness, using data to find new opportunities and modernizing its services and capabilities.

    The Senate Committee on Commerce, Science and Transportation is holding a hearing on Jan. 29, 2025, to consider Lutnick’s nomination.

    Challenge No. 1: Another census is just around the corner

    The incoming secretary’s biggest challenge will be the decennial census due on April 1, 2030.

    The census counts every person living in the U.S. and five U.S. territories. Census data is used to apportion the number of seats each state has in the House of Representatives and to adjust or redraw electoral districts, as well as to apportion federal funding allotted to each district. Consequently, the census receives huge attention in Congress. It will be an especially hot topic because the data collected in the 2020 census had errors due to the pandemic.

    Conducting the census is highly labor intensive and takes many years of planning and preparation, which ramp up now.

    The Commerce Department must hire 500,000 temporary workers, open local offices and run large-scale field tests, award billions of dollars in contracts, and work with every state, local, county and tribal government in the country to map where people live. This includes dorms, homeless shelters, nursing homes, prisons, oil rigs, boats, tents, hospitals and mobile homes as well as houses and apartments.

    The Census Bureau says it began planning for 2030 as far back as 2019 and is preparing to do a test census in 2026.

    Trump administration policies, such as ongoing efforts to round up and deport undocumented migrants, will make it even more challenging to count immigrants and other historically hard-to-reach groups. During his first term, President Donald Trump sought to prevent unauthorized immigrants from being counted at all – but ran out of time.

    A NOAA crew on a reconnaissance flight into the eye of Hurricane Milton in October 2024.
    Sim Aberson/NOAA via AP

    Challenge No. 2: NOAA on the front lines of climate change fight

    Second, NOAA is likely to be in the political crosshairs, due to its role as a global leader in studying oceans, climate and coastal ecosystems.

    It tracks rising sea levels, ocean acidification and extreme weather events, and forecasts their impact on fisheries, shipping, marine protected areas and habitats. It also runs the National Weather Service and issues severe storm warnings. These and many other NOAA activities are vital to monitoring the pace of climate change and helping Americans adapt.

    NOAA’s mission and its budget are sure to be scrutinized by the Trump administration, which has already reversed a variety of policies meant to slow the pace of climate change. Trump himself has called climate change a “hoax.” That and policy proposals that seek to break up or privatize NOAA suggest many of NOAA’s climate-related activities could be under threat.

    Challenge No. 3: The patent problem

    A third challenge the incoming secretary will face is an ongoing crisis at the Patent and Trademark Office.

    Unlike most federal agencies, the Patent and Trademark Office is funded by user fees collected from applicants rather than from tax revenue. This is supposed to make it more efficient and easier to hire staff quickly, but the model is under stress due to a shortage of patent examiners with skills in assessing science, technology, engineering and math applications. The agency currently has a backlog of over 800,000 unexamined patent applications – near an all-time high.

    The backlog is likely to continue to grow as artificial intelligence and other state-of-the-art technologies accelerate the discovery cycle, but the slow process of patent approval – two years on average – can throw a wrench in it.

    Patents and trademarks are critical to U.S. competitiveness because they reward innovation and discovery and help inventors attract investors.

    The Trump administration’s broad federal hiring freeze is likely to worsen the Patent and Trademark Office’s staffing issues, while the back-to-office mandate may make it harder to recruit patent examiners, who often work remotely.

    On top of this, Elon Musk, whose companies hold large numbers of patents and who already holds tremendous sway in the Trump administration, says “patents are for the weak” and compared them with landmines in warfare. “They don’t actually help advance things,” he said. “They just stop others from following you.”

    In addition to these three areas, Commerce’s roles in international trade, telecommunications, industrial security and other matters could also become epicenters of any global crisis.

    This all adds up to an uncomfortable mix of political and operational challenges for the next secretary.

    This story is part of a series of profiles explaining Cabinet and high-level administration positions.

    Linda J. Bilmes is affiliated with the Harvard Kennedy School. She served as Deputy Assistant Secretary of the US Department of Commerce from 1997-1998 and as CFO and Assistant Secretary for Management, Budget and Administration from 1999-2001.

    – ref. Commerce oversees everything from weather and salmon to trade and census − here are 3 challenges awaiting new secretary – https://theconversation.com/commerce-oversees-everything-from-weather-and-salmon-to-trade-and-census-here-are-3-challenges-awaiting-new-secretary-248087

    MIL OSI – Global Reports –

  • MIL-OSI USA: Fischer Joins “Mornings with Maria” to Discuss Delivering for Americans

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer

    U.S. Senator Deb Fischer (R-Neb.) joined Maria Bartiromo on FOX Business today to discuss how Republicans will deliver for the American people. Senator Fischer condemned the Democrats for stalling President Trump’s Cabinet nominees, risking America’s national security, and playing political games instead of serving their constituents.

    Senator Fischer also highlighted her plans to continue working for the American people during reconciliation by making her Paid Family Medical Leave tax credit permanent.

    Click the image above to watch a video of Senator Fischer’s remarks

    Click here to download audio

    Click here to download video

     


    Republicans Are Here To Work:

    Maria Bartiromo: You will be part of Howard Lutnick’s confirmation hearing. Tell us about your expectations for Howard Lutnick and the rest of these nominees. Do you think they’ll all get past the finish line?

    Senator Fischer:     It is so very important that we do get these nominees confirmed, and that we do it quickly. Of course, as you’re well aware, Maria, the Democrats are slow walking everything. Republicans have shown that we will stay late. We will stay over the weekends in order to get this done. 

    On Democrats Stalling President Trump’s Cabinet Nominees:

    Maria Bartiromo:     The President needs his team on the ground. Do you feel like your colleagues on the left have been stalling these hearings?

    Senator Fischer:     Oh, most definitely. You know, you especially saw it on Armed Services Committee where the Democrat members wanted to have another round of questions. They wanted to postpone the vote. They just wanted to drag it out.

    Let’s remember that, I think it was in the first 12 days of President Obama’s administration. He had 12 or 15 nominees already confirmed. We need to do that for national security reasons, for reasons that the American people are tired of waiting. You know, we want to see things happen, we need to move ahead. But we’ve got to do our job, we have to be thorough in it, and I can guarantee that we are.

    On Democrats Playing Political Games:

    Maria Bartiromo:     Yeah, I mean, more than that, people are sick and tired of the political tricks. We’ve been watching political games since President Trump walked down that escalator 10 years ago. From the Russia collusion lie, to hiding things about the Biden family, to now this obstruction of justice… 

    Senator Fischer: It’s just nonsense. We heard J.D. Vance answer a question this weekend, “You know, I don’t really care Margaret.” That is a calling that I hear all across Nebraska and all across America. You know, I don’t really care anymore. We have work to do. We need to get it done. Stop with the tricks, stop with all this stalling, and let’s get to work for the American people, on energy, on inflation, on reconciliation. There is so much to do.

    On Working for the American People During Reconciliation:

    Maria Bartiromo:     House Republicans are set to meet with VP Vance today at the Trump Doral Resort in Florida, as part of their annual conference. Committee chairs will also hold reconciliation meetings on how to pass President Trump’s agenda. Trump joined lawmakers for dinner last night with a speech on his priorities. Here’s what he said. Watch:

    President Trump:     In the coming weeks, I’m looking forward to working with Congress on a reconciliation bill that financially takes care of our plans to totally and permanently restore the sovereign borders of the United States once and for all. I’m also eager to get to work with Congress on the largest package of tax cuts and reforms in American history. We got to get that done, and we don’t want to get hung up on the budget process. We just want whether it’s one bill, two bills, I don’t care.

    Maria Bartiromo: Senator, how do you see this playing out?

    Senator Fischer:     Well, I agree with the President on his goals here, and I agree with him when he says whether it’s one bill or two bills, you know, I don’t care. We need to make sure that we’re going to deliver for the American people. What I’m worried about are American families. You know, they have to choose right now between making ends meet and taking care of their families.

    My top priority in reconciliation is my Paid Family Medical Leave tax credit. That was included in the 2017 Tax Reform, and I want to make that permanent in this reconciliation package. So we are working hard on that with a number of my colleagues. In the Senate, we are working together, as you know, in reconciliation, we just need to keep our guys together. And we’re trying to do that through a number of committees to make sure that we protect this country, that we protect our borders. That we can provide for families and meet their needs, so that they can have a better life for themselves and their children. These are promises made, and they’re going to be promises kept.

    On Putting America First:

    Maria Bartiromo:     I’m glad that you’re focused on families, whether it be their economic progress or their security. President Trump declared a national energy emergency in an effort to increase U.S. oil production. Gas executives told the New York Times they don’t plan on doing so unless prices rise significantly. This is another potentially economic yet also national security issue. And I spoke with your colleague, the Leader of the U.S. Senate, John Thune, on Sunday, and we talked about military spending being lifted. Here’s what he said. Watch: “What are you looking for in terms of specifics in bulking up America’s defense?

    Senate Majority Leader Thune:     Well, obviously our Navy, and if you look at the number of ships we have relative to our adversaries, particularly China, that’s something the President is interested in, an American Iron Dome concept. But, frankly, the thing we’ve got to do Maria is we’ve got to increase the top line. We have not, we have underfunded and in the Biden budget, there wasn’t a single Biden budget that kept up with the rate of inflation when it comes to the military, and so we’ve got some making up to do. I think there’s a very compelling argument on Panama, very compelling argument on Greenland and optimism in America that we haven’t seen in a long time. I think there’s been a real this has been a sluggish country, a country that’s been bogged down under the weight of government, regulation and red tape and taxation.

    Maria Bartiromo: Senator, I’ve got the Iron Dome for America Executive Order in front of me, and this is one of the ways that President Trump says he will be protecting America from a national security standpoint. What are you considering in terms of defense spending? And tell us where the priorities are in this plan.

    Senator Fischer:     Right. You know, on Armed Services Committee the last three years that President Biden sent us his top line for his budget, we increased that in the Senate Armed Services Committee, because we are well aware of the threats that face this nation. I happen to chair the Subcommittee on Strategic Forces. So not only do we have jurisdiction over STRATCOM and Space Command, but we also have jurisdiction over our nuclear triad to make sure that we have that strong deterrence policy.

    You’ve heard President Trump and the Vice President talk about deterrence that is so important to keep this country safe. We also have jurisdiction on strategic forces over missile defense, and we have been putting funding into missile defense in this country since I have been here and on that committee for now into my third term. So I am very, very pleased to hear that President Trump is prioritizing that with a focus on Iron Dome. We need to continue to look at our missile defense, the capabilities that we have, the capabilities that we need in order to defend and protect our homeland. 

    On Curbing Government Spending:

    Maria Bartiromo:     Yeah, I’m so glad to hear you talk this way. I could not agree more. Unfortunately, something has got to give. Senator, can you name one or two important offsets that you think will be significant? Interest is the single largest item in the budget behind Social Security. More than spending on defense, Medicare, and on children? Senator, what’s your most important offset to pay for all this?

    Senator Fischer:     You know, there’s a number of things, as you know, Maria, that all of us are looking at and being able to go through a budget. On Appropriations Committee, we’re going to be really having a strong oversight with our agencies that we have jurisdiction over and hold them accountable for programs. I think we can look, for example, on job training programs. I know a few years ago, across agencies, there were like 37 different job training programs. I am all for job training, but I think we need to figure out what the balance is. And I think that’s a private enterprise. A private business does training in conjunction with our community colleges, in conjunction with our state universities.

    I mean, just simple things like that. You’re going to see a lot of things like that. And I know we’ve heard some in the past. What I want to see, though, is a return to energy dominance. That is going to bring in, it’s going to help lower prices for families in this country. I want to be able to see inflation addressed, which we will. 

    Maria Bartiromo:     Of course. 

    Senator Fischer:     I know, I know many are saying, well, we’ve seen the price of eggs go up. Why hasn’t it dropped yet? I’m going, it’s been a week, folks, it’s been a week. You know, we are, we are focused, and we’re getting it done.

    Maria Bartiromo:     Senator, we’ll be watching your work. It’s a great point, the oversight alone may actually save a lot, given the reckless spending in the past. We’ll be watching. Thank you so much. Senator Deb Fisher, joining us this morning.

    Senator Fischer:     Thank you. 

    MIL OSI USA News –

  • MIL-OSI United Nations: New Permanent Representative of Nauru Presents Credentials to the Director-General of the United Nations Office at Geneva

    Source: United Nations – Geneva

    Frederick W. Pitcher, the new Permanent Representative of Nauru to the United Nations Office at Geneva, today presented his credentials to Tatiana Valovaya, the Director-General of the United Nations Office at Geneva.

    Prior to his appointment to Geneva, Mr. Pitcher had been serving as the Chief Executive Officer for the Nauru Maritime and Port Authority and the Nauru Shipping Line since 2023.

    He was a member of Parliament from 2004 to 2013, served as Nauru’s Minister for Commerce, Industry and Environment from 2004 to 2010, and was elected briefly as President in 2011.  Prior, Mr. Pitcher held the position of Nauru’s Deputy Permanent Representative to the United Nations in New York from 2000 to 2004.

    Mr. Pitcher began his career in Nauru’s Public Service in 1993, where he held several positions, including as the Director of the Bureau of Statistics (1993-1995); Private Secretary to the President (1995-1996); and Secretary for Finance (1996–1997).  

    Since 2013, he had been working mainly in the private sector.

    Mr. Pitcher obtained a Postgraduate Certificate in Management and Business Administration from the Edinburgh School of Management in Scotland (1997-2000); a Graduate Certificate and United Nations Fellowship in Statistical Analysis from the Statistical Institute for Asia and the Pacific, in Tokyo, (1992-1993); and a Bachelor of Arts in Pacific Studies from Macquarie University in Sydney, Australia (1988-1991), among other professional certificates.  He was born on Nauru in February 1967 and is married with three adult children.

    ________

    CR.12.048E

    Produced by the United Nations Information Service in Geneva for use of the information media; not an official record.

    MIL OSI United Nations News –

  • MIL-OSI Australia: Treasurer to hold key meetings in United States and United Kingdom

    Source: New South Wales Government 2

    Headline: Treasurer to hold key meetings in United States and United Kingdom

    Published: 28 January 2025

    Statement by: Treasurer

    Treasurer Daniel Mookhey will travel to the United States and United Kingdom holding key meetings to ensure NSW keeps borrowing rates low and to explore investment opportunities for the state.

    During a nine-day trip beginning today, Treasurer Mookhey will visit Washington, New York and London, accompanied by TCorp’s Chief Executive Officer David Deverall.

    Treasurer Mookhey will hold events with a range of bond holders, fund managers and investors including JP Morgan, Goldman Sachs, BlackRock, Nasdaq, the Bank of England and Capital Group, as well as meetings with ratings agencies.

    The NSW Treasurer will also meet leaders including Australia’s Ambassador to the United States Kevin Rudd, Australian Consul-General in New York Ms Heather Ridout AO and will attend an industry event with former NSW Premier Dominic Perrottet.

    This is Treasurer Mookhey’s first international trip since taking office.

    MIL OSI News –

  • MIL-OSI New Zealand: Budget will be delivered on 22 May

    Source: New Zealand Government

    Finance Minister Nicola Willis has announced Budget 2025 – the Growth Budget – will be delivered on Thursday 22 May. 

    “This year’s Budget will drive forward the Government’s plan to grow our economy to improve the incomes of New Zealanders now and in the years ahead.

    “Budget 2025 will build on our efforts to secure New Zealand’s future prospects, continuing the fiscal repair job made necessary by Labour’s era of wasteful spending.

    “We take seriously our responsibility to chart a path out of a spiral of deficits and debt left to us by the last government.

    “The Budget will also contain bold steps to support economic growth, including measures to address New Zealand’s long-standing productivity challenges.

    “These measures will go beyond the traditional Budget focus on spending and savings initiatives.

    “The Government intends to introduce several legislative and regulatory measures at the Budget focused on removing barriers that hold back job and wealth creation for New Zealanders.

    “We will build on the work of Budget 2024 to address the cost of living, deliver effective health and education services and restore laws and order.

    “We will advance new social investment measures to improve the lives of New Zealanders in the greatest need by getting better results from taxpayer-funded social services after six years of Labour Budgets focused almost exclusively on agencies spending more.

    “Budget 2025 will be squarely focused on ensuring New Zealanders can earn more in the years ahead by growing our economy.

    “Budget 2025 will be the responsible futured focused Budget New Zealand needs to secure better incomes and opportunities in the years ahead.”

    Notes to editors: The Government’s Budget priorities can be found in the Budget Policy Statement 2025 released on 17 December.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Empowering Tribal Entrepreneurs: Symposium on Building a Startup Ecosystem for Scheduled Tribes

    Source: Government of India

    Empowering Tribal Entrepreneurs: Symposium on Building a Startup Ecosystem for Scheduled Tribes

    Venture Capital Meets Grassroots: Boosting Tribal Entrepreneurship in India

    Posted On: 28 JAN 2025 8:29PM by PIB Delhi

    The Ministry of Tribal Affairs (MoTA), Government of India, organized a landmark Symposium on the Development of Startup Ecosystem among Scheduled Tribes, bringing together major Venture Capitalists and Impact Investors to discuss strategies for empowering tribal entrepreneurs and fostering inclusive growth.

    The Government of India remains steadfast in its commitment to empowering tribal communities. Hon’ble Prime Minister Shri Narendra Modi has consistently emphasized building an Atma Nirbhar Bharat (Self-Reliant India) and Atma Nirbhar Tribals. As part of this vision, the development of a robust startup ecosystem among Scheduled Tribes is a key initiative under the Ministry of Tribal Affairs’ 100-day agenda.

    To kickstart this transformative initiative, MoTA has undertaken extensive brainstorming sessions with premier institutions such as IIM Calcutta, IIT Delhi, IFCI Venture Capital Funds Limited, Delhi and industry associations to ensure a grassroot-level impact. A significant step in this direction was the initiation of a Venture Capital Fund for Scheduled Tribes with an initial corpus of ₹50 crore, aimed at promoting entrepreneurship among Scheduled Tribes and fostering innovation at the community level.

     

                         

    In alignment with this vision, the symposium, held in Delhi on 28th January 2025, provided a platform for thought leaders and stakeholders to explore approaches for uplifting tribal entrepreneurs and catalyzing investments in tribal-led startups.

    The discussion was chaired by Secretary, Ministry of Tribal Affairs, Shri Vibhu Nayar, and saw participation from renowned industry leaders, including:

    • Mr.  B.N. Prasad, Joint Secretary, Ministry of Tribal Affairs
    • Mr. Alok Mittal (Indian Angel Network)
    • Mr. Rakesh Rewari (Ex-DMD, SIDBI)
    • Mr. Sanjeev Bikhchandani (Info Edge)
    • Mr. Rajat Tandon (Indian Private Equity & Venture Capital Association – IVCA)
    • Ms. Sowmya Suryanarayanan (Aavishkaar Capital)
    • Mr. Pratekk Agarwaal (GrowthCap Ventures)
    • Mr. Srinivas Ramanujam (Villgro)
    • Mr. Manick Wadhwa (SKI Capital)
    • Mr. Ajay kumar kapur (Ex CEO SIDBI Venture, Ex. DMD @SIDBI.)
    • Mr. V. Anish Babu (MD, IFCI Venture)
    • Mr. Arindam Roy (IFCI Venture)

    Shri Vibhu Nayar, Secretary, Ministry of Tribal Affairs, said, “This initiative is a step toward fostering inclusivity and creating opportunities for Scheduled Tribes at the grassroots level. By building a robust ecosystem that supports tribal entrepreneurs, we aim to promote innovation and bring tribal talent to the forefront of India’s entrepreneurial landscape. The insights from today’s symposium will help shape future policies and programs to drive sustainable development in tribal communities.”

    Hon’ble Union Minister of Tribal Affairs, Shri Jual Oram,  vision for the initiative, “The Government of India is dedicated to empowering our tribal communities and nurturing their entrepreneurial spirit. With collective efforts, we can unlock the immense potential of tribal entrepreneurs and make them key contributors to the vision of Atma Nirbhar Bharat.”

    Key Recommendations from the Symposium:

    1. Strengthen Supply Chains: Build quality tribal enterprises that are investment-ready.
    2. Grassroot Training Programs: Conduct targeted capacity-building programs at the village level.
    3. Institutional Frameworks: Develop streamlined, inclusive, and institutionalized frameworks for startups to thrive.
    4. Public Market Access: Create pathways for tribal enterprises to access public markets.
    5. Inclusive Business Models: Encourage partnerships between tribal and metro entrepreneurs, ensuring no restrictions on holding patterns.
    6. Microfund Support: Establish micro funds for incubation-stage startups and collaborate with smaller VCs for scaling.
    7. Sectoral Focus: Identify specific industries with high potential for tribal empowerment and innovation, such as agriculture, handicrafts, and sustainable development.
    8. Support for Sunrise Sectors: Promote Fund of Funds (FOF) models to channel investments into innovative and impactful sectors.

     

    Venture Capital emphasized the importance of investing in sunrise sectors while ensuring impact and innovation remain at the core of tribal entrepreneurship initiatives.

    This symposium marks a significant step in fulfilling the Government of India’s vision of empowering Scheduled Tribes and creating an inclusive and self-reliant startup ecosystem. Through these collective efforts, tribal communities will gain greater access to resources, mentorship, and market opportunities, further driving innovation and sustainable development across the nation.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Winners of Avinya’25 And Vasudha Startup Challenges Announced At “Energize India” Conclave

    Source: Government of India (2)

    Posted On: 28 JAN 2025 8:10PM by PIB Delhi

    Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri, today announced the winners of two prestigious startup challenges – Avinya’25 and Vasudha – at a special ceremony held at ONGC headquarters.

    The announcement came at the conclusion of “Energize India: Catalyzing Growth Through Startup Innovation”, a high-powered conclave that brought together energy sector veterans, investors, and innovators.

    The winners of Avinya’25, India’s premier energy startup competition, was UrjanovaC Pvt Ltd. The runners up were Breathe ESG Private Limited, AgriVijay, Apeiro Energy and UGreen Technology.

    For Vasudha, the global startup challenge in upstream oil and gas sector, the winner was Latin Energy Partners Inc., Paraguay and the runner up was Ultrasound Process Consulting LLC, USA

    These winning startups emerged from an intensely competitive field – Avinya’25 received 173 applications from across India, while Vasudha attracted global participation in crucial areas including seismic data interpretation, AI applications, and carbon capture technologies.

    The winners of the Hackathon were also announced with IIT (ISM) – Dhanbad emerging as the winner and IIT-Guwahati as the runner up.

    Addressing the occasion, Minister Shri Hardeep Singh Puri highlighted the pivotal role of PSUs under the Ministry of Petroleum & Natural Gas in fostering innovation through a Rs. 547.35 crore startup fund. Supporting 303 startups with Rs. 286.36 crore, these efforts propel India’s vibrant ecosystem of over 110 unicorns, creating transformative growth and jobs. 

    Speaking on the diversification of energy supply sources, Shri Puri noted that India had already embarked on this path. “Earlier, we used to import from 27 countries; now we are sourcing from 39, with discussions underway with a few more,” he said. He emphasized that diversification provides strategic advantages by ensuring a broader geographical spread. “Our imports are guided by fundamental, self-evident principles: we will source energy from wherever it is available at the right price,” he added. 

    Regarding the target of achieving 20% ethanol blending, Shri Puri highlighted that India has already reached at 19% blending. Expressing confidence in surpassing the target ahead of schedule, he revealed that discussions have begun on developing a roadmap beyond 20 percent blending.

    The day-long “Energize India” conclave featured thought-provoking panel discussions on identifying opportunities in the energy sector, leveraging emerging technologies, and accessing capital for energy startups. Industry leaders shared insights on how startups can contribute to India’s energy transition while maintaining the delicate balance between security, accessibility, affordability, and sustainability.

    Speaking at a panel discussion, Shri Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas said, “Fossil fuel is not going anywhere in India for the next 25 years. We have several terrabytes of seismic data on our open waters earmarked for exploration. I urge our bright sparks to think about developing solutions to mine through the data and contribute to hydrocarbon exploration efforts.”

    Shri S.C.L. Das, Secretary, Ministry of Micro, Small & Medium Enterprises, stated during the panel discussion alongside Shri Pankaj Jain, “We are trying to develop a system whereby we assess the maturity level of different startups so that the Ministry can cater to their needs in terms of regulatory compliance or access to capital, in collaboration with other central ministries, state governments and local governments.”

    The winning startups will receive prominent exposure at India Energy Week 2025, where they will showcase their innovations to over 70,000 energy professionals from 120 countries. The winners will join fourteen public sector undertaking (PSU) startups in a special startup pavilion at IEW 2025, demonstrating the breadth of innovation in India’s energy sector.

    These startup challenges are part of India Energy Week 2025, scheduled to be held in New Delhi from February 11-14, 2025. The event has grown significantly from its previous editions in Bangalore and Goa, and will feature over 700 exhibiting companies, 500 speakers, and more than 6,000 delegates.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Dr. Mansukh Mandaviya to chair National Conference with Labour Ministers and Secretaries of States & UTs in New Delhi

    Source: Government of India (2)

    Dr. Mansukh Mandaviya to chair National Conference with Labour Ministers and Secretaries of States & UTs in New Delhi

    Focus on Labour Reforms, Social Security Measures for Workforce, Improving Employability through National Career Service (NCS) Portal and Model Career Centres (MCCs)

    Exchange of Ideas on Facilitating Reforms for Quality Employment Generation through Enhanced Ease of Doing Business and Reduction in Compliance Burden

    Posted On: 28 JAN 2025 7:54PM by PIB Delhi

    Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya will chair a two-day “National Conference with Labour Ministers and Secretaries of States/UTs” in New Delhi on 29-30, January 2025. Minister of State for Labour & Employment and Micro Small and Medium Enterprises, Ms. Shobha Karandlaje will also attend the meeting and Ms. Sumita Dawra, Secretary (Labour & Employment) will set the context for the deliberations.

    The Ministry of Labour and Employment is organizing this national meeting for strengthening collaboration with all 36 States and Union Territories on Labour Reforms, Social Security for Organized and Unorganized Workers, including Gig and Platform workers, expanding ESIC medical infrastructure and healthcare facilities, and improving employability through National Career Service (NCS) Portal and Model Career Centres (MCC).

    Exchange of insights, experiences and best practices will take place on key labour and employment issues including harmonization of the draft rules of Centre, States and UTs under Labour Codes, and labour reforms being undertaken by States/UTs under the existing framework in line with the spirit of Labour Codes. States & UTs will showcase reforms already undertaken by them.

    The meeting also aims at capacity building of stakeholders for transformation of role of Inspector to Inspector-cum-Facilitator. These reforms are aimed at both facilitating growth of industry including MSMEs and Start-Ups to promote generation of quality employment through ease of doing business, as well as for promoting labour welfare and female work-force participation, etc.

    Key objective of the meeting is to accelerate convergence in efforts of the Central Government, States, and Union Territories for building a streamlined and consistent legal and administrative framework for reforms aimed at benefitting both workers and employers.

     

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    Himanshu Pathak

    (Release ID: 2097136) Visitor Counter : 56

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  • MIL-OSI Asia-Pac: Future Ready: India’s Digital Economy to Contribute One-Fifth of National Income by 2029-30

    Source: Government of India

    Posted On: 28 JAN 2025 7:23PM by PIB Delhi

    The Indian economy has been digitalising at a remarkable pace over the last decade. Quantifying and understanding the role of the digital economy in driving economic growth, employment, and sustainable development are essential for both policymakers and the private sector. According to the State of India’s Digital Economy Report 2024, India is the third largest digitalised country in the world in terms of economy-wide digitalization, and 12th among the G20 countries in the level of digitalisation of individual users.

    India’s digital economy is expected to grow almost twice as fast as the overall economy, contributing to nearly one-fifth of national income by 2029-30. This means that, in less than six-years, the share of digital economy will become larger than that of agriculture or manufacturing in the country. In the short run, the highest growth is likely to come from the growth of digital intermediaries and platforms, followed by higher digital diffusion and digitalisation of the rest of the economy. This will eventually lower the share of digitally enabling ICT industries in the digital economy.

    India’s digital economy has emerged as a significant contributor to its economic growth, accounting for 11.74% of the GDP (INR 31.64 lakh crore or USD 402 billion) in 2022-23. Employing 14.67 million workers (2.55% of the workforce), the digital economy is nearly five times more productive than the rest of the economy. The digitally enabling industries such as ICT services and manufacturing of electronic components, computers, and communication equipment, which form the core, contributed 7.83% of GVA (Gross Value Added), while digital platforms and intermediaries added another 2% of GVA. Furthermore, digitalisation in traditional sectors like BFSI, retail, and education added 2% of GVA, showcasing the pervasive impact of digital transformation. Projections indicate the digital economy’s share will grow to 20% of GVA by 2029-30, outpacing agriculture and manufacturing. Key growth drivers include the rapid adoption of AI, cloud services, and the rise of global capability centers (GCCs), with India hosting 55% of the world’s GCCs. GCCs are offshore centres established by multinational corporations to provide a variety of services to their parent organisations, including R&D, IT support, and business process management.

    India’s progress in digital advancements

    Source: ESTIMATION AND MEASUREMENT OF INDIA’S DIGITAL ECONOMY REPORT, January 2025 (Page 15)

    Digitalisation of traditional sectors

    The primary survey and stakeholder discussions highlighted interesting facts about how different sectors are digitalising and their contribution to the revenue generated by firms. Not all aspects of businesses are digitalising uniformly. For example, retail sales are digitalising much more than wholesale sales. Firms are also investing in digital methods for customer acquisition and business development. Chatbots and AI applications are fairly commonplace.

    • In the BFSI sector, over 95% of banking payment transactions are digital, but revenue-generating activities like loans and investments remain largely offline, with financial services less digitalised overall.
    • Retail is shifting to omni-channel models, with e-tailers adding physical stores, while AI chatbots and digital inventory tools enhance efficiency.
    • Education has begun adopting offline, online, and hybrid models, with most institutions favoring hybrid approaches
    • Hospitality and logistics are embracing AI, metaverse, and digital tools, with large firms fully digitalising operations, while smaller players lag behind.

    The Way Forward

    By 2030, India’s digital economy is projected to contribute nearly one-fifth of the country’s overall economy, outpacing the growth of traditional sectors. Over the past decade, digital-enabling industries have grown at 17.3%, significantly higher than the 11.8% growth rate of the economy as a whole. Digital platforms, in particular, have expanded rapidly, with an anticipated growth rate of approximately 30% in the coming years. In 2022-23, the digital economy accounted for 14.67 million workers, or 2.55% of India’s workforce, with the majority of these jobs (58.07%) in the digital-enabling industry. Though the workforce is predominantly male, digital platforms have contributed to increasing job opportunities for women, especially in sectors where mobility and safety concerns were previously barriers.

    India’s digital economy is a key driver of both economic growth and employment, with an increasing role in empowering women in the workforce and creating new opportunities across various sectors. The rapid expansion of digital platforms signals an ongoing transformation that is set to shape the future of work in India.

    References:

    https://pib.gov.in/PressReleasePage.aspx?PRID=2095260

    https://www.meity.gov.in/writereaddata/files/Report_Estimation_Measurement.pdf

    Click here to see in PDF:

    Santosh Kumar/ Sarla Meena/ Kritika Rane

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  • MIL-OSI Asia-Pac: CCI approves the proposed acquisition of up to 72.64% shareholding in ITD Cementation India Limited by Renew Exim DMCC

    Source: Government of India (2)

    Posted On: 28 JAN 2025 6:19PM by PIB Delhi

    The Competition Commission of India has approved the proposed acquisition of up to 72.64%shareholding in ITD Cementation India Limited by Renew Exim DMCC.

    The proposed combination involves the following:

    1. Acquisition by Renew Exim DMCC (Acquirer) of approximately 46.64% equivalent to 8,01,13,180 shares of the total issued and voting equity share capital of the ITD Cementation India Limited (Target).

     

    1. Pursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (as amended) (Takeover Regulations), the Acquirer has launched an open offer for further acquisition of up to 4,46,64,772 fully paid-up equity shares having a face value of INR 1 (Indian Rupee One) each, representing approximately 26% of the Voting Share Capital of the Target (Open Offer).

     

    The Acquirer is incorporated in Dubai, United Arab Emirates and belongs to the Adani group. The Acquirer is a holding company engaged in the business of investment in commercial enterprises and management. The Acquirer does not have any operations in India.

    ITD Cementation India Limited is an engineering and construction company undertaking heavy civil, infrastructure and engineering, procurement and construction (EPC) business and operating in India and overseas with an established presence and expertise in EPC for maritime structures, mass rapid transit system, airports, hydro-electric power, tunnels, dams & irrigation, highways, bridges & flyovers, industrial structures and buildings, water & wastewater and foundation & specialist engineering.

    Detailed order of the Commission will follow.

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    NB/AD

    (Release ID: 2097096) Visitor Counter : 13

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  • MIL-OSI Asia-Pac: Forthcoming World Audio Visual Entertainment Summit a grand occasion to showcase India’s creative power and obtain a new identity for us before the world: Prime Minister of India

    Source: Government of India

    Forthcoming World Audio Visual Entertainment Summit a grand occasion to showcase India’s creative power and obtain a new identity for us before the world: Prime Minister of India

    Events like WAVES not only generate revenue, help develop the perception but promotes states globally by tapping the creative talent pool: PM at Utkarsh Odisha – Make in Odisha Conclave

    Golden opportunity for amateur music creators, fashion buffs, creative freelancers, advertising professionals & designers to take part in WAVES & become a celebrity maestro in your art

    Hurry up and apply under Doordarshan and Dilli Darbar joint venture – Wah Ustad music talent hunt reality show for classical, semi classical, and Sufi artists for age 18 & above

    Drop the Beat with epic EDM Challenge: WAVES offers maiden opportunity to digital music producers to showcase their talent in EDM

    ‘Make the world wear Khadi’ challenge seeks global participation from ad makers & talented amateurs to craft innovative campaigns helping India position Khadi as a global brand

    WAVES running 19 Create in India Challenges for freelancers as well as professionals from around the world, rest 12 for Indians, to make their career in media & entertainment industry and earn fame

    Posted On: 28 JAN 2025 5:35PM by PIB Delhi

    The Prime Minister of India Shri Narendra Modi said that the forthcoming WAVES (World Audio Visual & Entertainment Summit) will provide a new global identity to India’s creative prowess. Addressing the audience at Utkarsh Odisha – Make in Odisha Conclave in Bhubaneswar, he highlighted how major events like WAVES not only generate significant revenue but also build  perceptions and push the economy. He underscored the immense potential of such initiatives to harness India’s vast pool of creative talent and position the nation as a global leader in the media and entertainment sector.

    WAVES 2025: Bridging India’s timeless traditions with contemporary creativity

    WAVES 2025 presents a unique confluence of India’s rich cultural legacy and modern creativity, offering platforms for everyone—from creators of classical and semi-classical music to creators of modern music of EDM and innovative advertising professionals, designers and creators for Khadi.

    This dynamic blend of past and present is exemplified in challenges like Wah Ustad, celebrating India’s traditional musical heritage, Resonate: The EDM Challenge, embracing modern global music trends, and Make The World Wear Khadi, which seeks to reimagine India’s iconic fabric as a global symbol of sustainable fashion. These three challenges were launched by Shri Ashwini Vaishnaw along with WAVES Bazaar and WAVES Awards, on 27 January, 2025 where he urged the creators to help India become the global capital of content creation.

    Shri Ashwini Vaishnaw while addressing the audience at the launch of WAVES Bazaar-Global-e-marketplace WAVES CIC Challenge including ‘Wah Ustad’ and WAVES Awards on 27 January, 2025

    Together, these initiatives provide content creators with unparalleled opportunities to showcase their talent, bridge tradition and innovation, and gain recognition while contributing to India’s cultural and creative renaissance. These challenges join a diverse lineup of total 31 Create in India Challenges,offering a stage for content creators across various genres to showcase their talent.

    About the New Challenges

    Wah Ustad: A Reality Show to Discover India’s Hidden Musical Gem

    The Ministry of Information and Broadcasting, in collaboration with the Ministry of Culture and Doordarshan, has launched Wah Ustad, an extraordinary classical and semi-classical music talent hunt, under the Create in India Challenges, a flagship initiative of WAVES 2025.It aims to nurture exceptional talent in Hindustani, Carnatic, and soulful Sufi music while preserving and promoting India’s rich musical legacy.

    Envisioned with the expertise of the esteemed “Dilli Gharana,” Wah Ustad will serve as a platform for young, classically trained vocalists aged 18 and above. Open to global participation, the program invites entries from talented individuals with a passion for Hindustani or Carnatic music, Sufi singing, and semi-classical genres.

    The journey for participants has already begun with online registrations through the Dilli Durbar portal. This will progress to regional auditions, thematic episodes, and ultimately culminating in a grand finale at WAVES 2025 in Mumbai. The top five finalists will compete for the coveted title, with the winner receiving a cash prize, mentorship opportunities, recording contracts, and nationwide recognition.

    With 26 episodes airing on Doordarshan, Wah Ustad will celebrate India’s cultural heritage while inspiring the next generation of musicians. By blending traditional expertise with modern technology, the program promises to highlight the soulful charm of classical music and its relevance in today’s world.

    Resonate: The EDM Challenge

    In a first-of-its-kind global celebration of electronic music, Resonate: The EDM Challenge will take center stage at the inaugural World Audio Visual & Entertainment Summit (WAVES). Organized by the Indian Music Industry (IMI) in collaboration with the Ministry of Information & Broadcasting (I&B), the challenge aims to reinforce India’s position as a global hub for music fusion, electronic music, and the vibrant art of DJing.

    If you excel at crafting digital or electronic music and have a flair for DJing, Resonate: The EDM Challenge at WAVES 2025 is your ultimate stage to shine. This unique competition invites talented individuals from across the globe to showcase their skills in music production and live performance, offering an unparalleled opportunity to become a DJ maestro. With exciting prizes and a platform to perform in front of industry experts and a global audience, this challenge is your chance to turn your passion for electronic music into international recognition.

    Open to individual artists and creative teams, Resonate provides a platform for both emerging and seasoned musicians to compete across two thrilling stages:

    • Preliminary Round: Participants will submit their original EDM tracks online, which will be evaluated by a panel of industry experts to shortlist the top 10 entries.
    • Grand Finale: The finalists will perform live at WAVES 2025, competing for top honors in front of a distinguished jury and a global audience.

    Winners will receive substantial cash prizes (₹2,00,000 for the Grand Prize winner and ₹50,000 for runners-up), along with a chance to feature in promotional materials, gain international exposure, and perform on a global stage.

    Make The World Wear Khadi: A Global call to elevate India’s iconic fabric

    India’s timeless fabric, Khadi, is set to make a global statement with the launch of the “Make The World Wear Khadi” challenge under the Create in India initiative at WAVES 2025. This unique competition invites advertising professionals, creative freelancers, and designers from around the world to craft innovative campaigns that position Khadi as a global brand.

    Open to international participation, the challenge encourages participants to explore bold and imaginative design concepts across digital, print, video, and experiential formats. The goal is to elevate Khadi’s brand image, inspire consumer engagement, and establish it as a symbol of sustainable fashion and cultural heritage worldwide. Winners will secure recognition and opportunities to further their professional journey while playing a pivotal role in driving Khadi’s transformation into an internationally celebrated brand.

    WAVES Awards

    The WAVES Awards will honour the outstanding contributions in the global creative industry, with nominations opening on February 15, 2025. Recognizing excellence across diverse fields, the awards feature two major categories: ‘Best of the Year’ Global Awards and Special Selection Awards.

    The ‘Best of the Year’ Global Awards celebrate top achievements in gaming, film, animation, web series, advertising, startups, and digital influence. Key categories include Game of the Year, Film of the Year, Influencer of the Year, Podcaster of the Year, and Song of the Year, among others.

    The Special Selection Awards acknowledge individuals and initiatives that have made a significant impact. This includes the prestigious G.O.A.T. (Greatest of All Time) Lifetime Achievement Award, Businessperson of the Year, Social Impact Award, and Tech Icon Awards. The Stories of Change category further highlights transformative contributions in Broadcast, Print, and Digital Media.

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    Dharmendra Tewari/Kshitij Singha

    (Release ID: 2097072) Visitor Counter : 52

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  • MIL-OSI Asia-Pac: India-Oman Joint Commission Meeting held; leaders focus on enhancing bilateral cooperation in trade, investment, technology, food security and renewable energy

    Source: Government of India (2)

    India-Oman Joint Commission Meeting held; leaders focus on enhancing bilateral cooperation in trade, investment, technology, food security and renewable energy

    Union Minister of Commerce & Industry Shri Piyush Goyal concludes successful visit to Oman

    Posted On: 28 JAN 2025 5:03PM by PIB Delhi

    Union Minister of Commerce and Industry, Shri Piyush Goyal concluded a successful visit to the Sultanate of Oman from 27-28 January 2025.

    During the visit, Shri Goyal co-chaired the 11th Session of the India-Oman Joint Commission Meeting (JCM) with H.E. Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion of Sultanate of Oman. The JCM saw productive discussions on enhancing bilateral cooperation in trade, investment, technology, food security, renewable energy and other key areas. The Minister held a productive bilateral meeting with Minister Qais during which he undertook a detailed review of the bilateral trade and economic relations between India and Oman and identified concrete steps to further strengthen the mutually beneficial business ties.

    The two Ministers also exchanged views on a bilateral India-Oman Comprehensive Economic Partnership Agreement (CEPA), which is under advanced stages of negotiations. Both Ministers agreed to expedite the discussions for an early signing of the CEPA which will be a new milestone in bilateral trade relations and has the potential to significantly scale-up two-way trade and investments.

    On the sidelines of the visit, both sides signed the Protocol to amend the India-Oman Double Taxation Avoidance Agreement (DTAA), aligning it with international standards on cross-border taxation, simplifying tax procedures, and promoting greater cooperation in tax matters.

    Minister Goyal called-on His Highness Sayyid Asa’ad bin Tarik Al Said, Deputy Prime Minister for International Relations and Cooperation Affairs and Special Representative of His Majesty on January 28, 2025. HH Sayyid Asaad had led the Omani delegation to India for the G-20 Summit in September 2023.

    Shri Goyal also held bilateral meetings with H.E. Sultan bin Salem Al Habsi, Minister of Finance, and H.E. Ali bin Masoud Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), to deepen economic ties.

    The Minister participated in the India-Oman Joint Business Council (JBC) meeting which was hosted by the Oman Chamber of Commerce and Industry (OCCI), with support and participation of a delegation from FICCI. The JBC, which is traditionally held on the sidelines of the India-Oman JCM, provided an excellent platform for wide ranging discussions among the two business communities and provided exposure to investment opportunities and incentives of both India and Oman.

    Shri Goyal met with a select group of CEOs and business leaders of Oman at a Business Roundtable hosted by the Ambassador of India at the Indian Embassy premises. This interaction provided an opportunity for the Minister to directly engage with key business leaders of Oman to apprise them of the India opportunity and seek their suggestions for bilateral cooperation.

    Minister Goyal also addressed the Future Leaders Programme at the Royal Academy of Management, Oman, highlighting India’s growth story and sharing insights on leadership and its role in shaping a better world.

    The Commerce Minister visited the Sultan Qaboos Grand Mosque in Muscat which is an icon of cultural and architectural heritage of Oman. He will also offer prayers at the historic Shiva Temple in old Muscat, later this evening, underscoring the deep-rooted cultural and people-to-people ties between India and Oman.

    The successful visit of the Shri Goyal reinforced the strong foundations of India-Oman relations, paving the way for enhanced collaboration in trade and investment.

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    Abhisekh Dayal/Abhijith Narayanan/Asmitabha Manna

    (Release ID: 2097043) Visitor Counter : 37

    MIL OSI Asia Pacific News –

  • MIL-OSI: DIAGNOS to Present at The Microcap Conference 2025

    Source: GlobeNewswire (MIL-OSI)

    BROSSARD, Quebec, Jan. 28, 2025 (GLOBE NEWSWIRE) — Diagnos Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK, OTCQB: DGNOF, FWB: 4D4A), a pioneer in early detection of critical health issues through the use of its FLAIRE platform based on Artificial Intelligence (AI), is pleased to announce its participation in The Microcap Conference 2025, the premier event for growth-focused companies and investors. The conference will take place January 28-30, 2025, at the Borgata Hotel Spa & Casino in Atlantic City, NJ.

    Details of the presentation:

    Event: The Microcap Conference
    Date and Time: January 29, 2025, at 4:30 p.m., ET
    Location: Borgata Hotel Casino & Spa, Studio C, Atlantic City, NJ
    Presenter: André Larente, Chief Executive Officer

    DIAGNOS will engage in one-on-one meetings with institutional and individual investors to discuss the Company’s recent developments, growth strategy, and investment opportunities. This event provides a unique platform to highlight DIAGNOS’ AI technology and its vision for disrupting medical detection landscape.

    “Our Investor Relations strategy is to connect with U.S. investors who recognize the importance of innovation in healthcare. This event provides an excellent opportunity to increase awareness with family offices, wealth management advisors, and high-net-worth individuals. With expected deployments with customers, as well as a partnership with the largest eyecare company in the world that validated our technology and will commercialize to its customer base, 2025 could be a milestone year for DIAGNOS,” said André Larente, CEO of DIAGNOS.

    To register for the conference or one-on-one meeting, visit

    https://themicrocapconference.com/tickets/

    About The Microcap Conference 2025

    The Microcap Conference is the largest independent microcap event in the U.S., bringing together top-tier investors and executives from microcap companies. The event offers a platform for companies to showcase their value propositions through presentations, one-on-one meetings, and networking opportunity.

    The 2025 event will feature:

    Keynote Speakers: Renowned industry figures, including Jon Ledecky, Co-Owner of the New York Islanders, who will engage in a fireside chat with CNBC’s Bob Pisani, and Tom Gardner, CEO of Motley Fool, who will share insights on investing, market trends, and entrepreneurial success.

    Expert Panels and Presentations: Financial commentators Ron Insana (CNBC) and Charlie Gasparino (FOX Business) will cover critical topics for the US equity markets, from capital formation to regulatory updates and market trends.

    Entertainment Headliner: A special performance by Tom Papa, celebrated comedian and host of Netflix specials, ensuring a memorable evening for attendees.

    Hosted by DealFlow Events, The Microcap Conference is renowned for its blend of high-quality content, engaging networking, and exceptional entertainment.

    About DIAGNOS
    DIAGNOS is a publicly traded Canadian corporation dedicated to early detection of critical health problems based on its FLAIRE Artificial Intelligence (AI) platform. FLAIRE allows for quick modifying and developing of applications such as CARA (Computer Assisted Retina Analysis). CARA’s image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images. CARA is a cost-effective tool for real-time screening of large volumes of patients.

    Additional information is available at www.diagnos.ca  and www.sedarplus.com.

    This news release contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements. DIAGNOS disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

    Neither the TSX Venture Exchange nor its Regulation Services 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 Europe: Latest news – Meeting of the DLAT Delegation on 27 January 2025 – Delegation to the Euro-Latin American Parliamentary Assembly

    Source: European Parliament

    The last meeting of the Delegation to the Euro-Latin American Parliamentary Assembly (DLAT) took place on 27 January 2025.

    It included an Exchange of views on the implementation of the Global Gateway Investment Agenda in the area of digital transition in Latin America and the Digital Alliance with the participation of Felix Fernández-Shaw (DG INTPA), Carla Fernández-Durán (BID) and José Ignacio Torreblanca (ECFR), among others.

    MIL OSI Europe News –

  • MIL-OSI Europe: Netherlands: Royal Schiphol Group enters into a loan agreement with the EIB for infrastructure investments

    Source: European Investment Bank

    Royal Schiphol Group and the European Investment Bank (EIB) have entered into a loan agreement to the value of EUR 175 million. This represents the first installment of a total financing of EUR 400 million. The loan contributes to the financial stability of Schiphol and is an important milestone in the realisation of the major EUR 6 million investment programme.

    CFO Robert Carsouw: ’The largest investment programme in the airport’s history asks for robust finances and healthy cashflows. Additional financial resources are necessary in order to realise the infrastructure investments. We are very pleased with the support of the EIB and look forward to continuing our longstanding relationship. This loan contributes to ensuring our financial foundation.’

    EIB Vice-President Robert de Groot added: ‘Our relationship with Schiphol goes back more than two decades, and we are committed to supporting them in these efficiency improvements, to the benefit of both staff and travelers. The EIB finances projects that matter to people, and align with the strategic priorities of the EU, this is a great example of both.’

    New baggage basement

    This loan will be used primarily for the construction of a new baggage basement. The new baggage basement will provide the necessary capacity to replace and upgrade the existing baggage system, which will improve working conditions for baggage handlers. The preparations for construction started recently.

    Investment portfolio: EUR 6 billion in 5 years

    Schiphol is investing EUR 6 billion over the next 5 years in the improvement of airport facilities including the maintenance and renovation of aviation infrastructure, renovation of passenger and employee facilities and implementation of innovative improvements to working conditions. Read more here.

    Ongoing EIB support

    Apart from previous financing for Schiphol’s infrastructure projects, in 2023, the EIB supported the airport’s electrification of airside equipment, which helped to lower emissions in line with Schiphol’s sustainability targets. With the planned investments related to this new loan, Schiphol will enhance its operational capabilities and contribute to the critical civilian infrastructure. The loan therefore falls under the EIB’s Strategic European Security Initiative (SESI).

    MIL OSI Europe News –

  • MIL-OSI Europe: New Human Rights Toolkit for financial institutions

    Source: European Investment Bank

    Dutch-based electrical data analytics company Samotics has signed a €20 million financing agreement with the European Investment Bank (EIB) to accelerate its research and development activities. The EIB’s investment will enhance the company’s solutions regarding the monitoring of machine health and energy efficiency, while accelerating work on its next-generation integrated solution, planned for launch this year. The funding aligns with Samotics’ mission to make industries more reliable, efficient, and sustainable.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Unequal access to medicinal products approved for use across the EU – E-002559/2024(ASW)

    Source: European Parliament

    1. As explained in the Pharmaceutical Strategy for Europe[1], companies are currently not under a legal obligation in the EU to market a medicine in all Member States. Access disparities, with smaller and less affluent countries especially affected, can be due to various factors. This includes national pricing and reimbursement policies, market size and the organisation of health systems. It can also be due to marketing decisions of individual companies.

    2. The Commission is committed to addressing the issue of access to affordable medicines for all EU citizens while respecting national competences on pricing and reimbursement of medicines, in line with Article 168(7) of the Treaty on the Functioning of the European Union. The proposed reform of the general pharmaceutical legislation[2] includes stronger incentives to launch innovative medicines in all Member States; measures for earlier entry of generics and biosimilars and for faster and simpler authorisation procedures. The Commission also supports and encourages cooperation between Member States on pricing, reimbursement and procurement policies in the group of National Competent Authorities on Pricing and Reimbursement and Public Healthcare Payers (NCAPR), based on mutual learning and best-practice exchange, to improve the affordability and cost-effectiveness of medicines and health system’s sustainability.

    • [1] COM(2020) 761 final.
    • [2] Commission proposals, COM(2023) 192 final and COM(2023) 193 final.
    Last updated: 28 January 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Cybersecurity in Italy and the effectiveness of NRRP investments in cybersecurity – E-002269/2024(ASW)

    Source: European Parliament

    Strengthening Member States’ cyber resilience capabilities, coordinating national cyber efforts and securing critical infrastructures are top priorities for the Commission, which monitors closely cyber threats and incidents affecting the EU’s critical infrastructure.

    The directive on measures for a high common level of cybersecurity across the Union (NIS 2 Directive)[1] requires from entities in 18 critical sectors, including public administration, to take risk-based cybersecurity risk-management measures and report significant cyber incidents.

    The NIS 2 Directive transposition deadline for the Member States was 17 October 2024. The Commission is now assessing the Italian transposition legislation that was notified on time.

    In addition, Regulation on digital operational resilience for the financial sector (DORA)[2] requires financial entities to develop capabilities to detect, prevent, limit the impact of information and communication technologies-related incidents, to respond and recover from them, and report major incidents. To assess the effectiveness of the entities’ capabilities, DORA introduces testing requirements.

    Investment 1.5 ‘Cybersecurity’[3], worth EUR 623 million, from Italy’s National Recovery and Resilience Plan (NRRP) spans from creating a Cybersecurity Agency to the implementation of actions boosting Italy’s cyber resilience capabilities.

    In the context of Italy’s fifth payment request, five milestones and targets were assessed as satisfactorily fulfilled: (i) creating the National Cybersecurity Agency (ACN), (ii) defining the national cybersecurity architecture, (iii) the start-up of a network of cybersecurity laboratories, (iv) activating a central audit unit within the ACN (v) completing five strengthening interventions.

    • [1] http://data.europa.eu/eli/dir/2022/2555/oj
    • [2] https://eur-lex.europa.eu/eli/reg/2022/2554/oj/eng
    • [3] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52024PC0509

    MIL OSI Europe News –

  • MIL-Evening Report: Sydney’s Museum of Contemporary Art is now charging for entry. It’s a sign our cultural sector needs help

    Source: The Conversation (Au and NZ) – By Chiara O’Reilly, Senior Lecturer in Museum Studies, University of Sydney

    From January 31, Sydney’s Museum of Contemporary Art (MCA) will reintroduce ticketed entry, charging adults $20 for general admission and $35 for combined special exhibitions and museum entry. Entry will remain free for Australian students and people under 18.

    This decision, which reverses 24 years of free general entry to the museum, reflects broader challenges faced by museums globally.

    Driven by philanthropy

    The MCA was opened in 1991, established through the bequest of Australian expatriate artist John Power. As an independent, not-for-profit organisation, its administrative and financial structure is different from major cultural institutions in Sydney.

    Unlike the Art Gallery of New South Wales and Australian Museum, which are statutory bodies of the NSW government, the MCA receives a far smaller proportion of state funding.

    For 2023-2024, the NSW government delivered A$46.2 million in recurrent funding to the Art Gallery of NSW and $47.4 million to the Australian Museum. The MCA received $4.2 million, which represented just 16% of its total revenue.

    This funding disparity has always required the MCA to secure the bulk of its budget through other revenue streams. Corporate and philanthropic partnerships have been vital.

    In 2000, financial support from Telstra allowed the museum to offer free admission. In 2012, philanthropists including Simon and Catriona Mordant contributed greatly to fund the museum’s expansion.

    The MCA has also been proactive in leveraging its venue to maximise income. In 2023, 41% of revenue was earned through commercial services including venue hire, retail and commercial leases.

    Why there’s no more free entry

    Despite reducing its opening hours to six days a week post-COVID and scaling back audience engagement, the MCA’s financial pressures continued. According to director Suzanne Cotter, the museum “didn’t have any choice” but to implement an admission fee.

    While ticketed admission creates a financial barrier, it also provides visitors a way to invest directly in the museum’s future and sustainability.

    The MCA has consistently demonstrated its value, generating impressive visitor numbers. In 2019, attendance surpassed one million visitors, setting the museum ahead of many international peers.

    But the effects of the COVID pandemic have lingered. In 2022-23, the museum attracted 859,386 visitors – a 15% decline compared to 2019.

    In comparison, the Art Gallery of NSW welcomed almost two million visitors to its expanded campus in 2023, representing a 51% increase from pre-COVID figures.

    The MCA isn’t struggling alone

    Internationally, there are clear signs of an industry under immense pressure.

    Major US institutions such as The Metropolitan Museum of Art (The Met), The Museum of Modern Art (MoMA) and the Guggenheim and Whitney have all increased general adult admission fees to US$30.

    The Met’s shift away from a pay-what-you-can model to fixed admission for most visitors in 2018 was driven by speculation of a US$40 million deficit. However, New York state residents and students, as well as New Jersey and Connecticut students, can still pay what they wish – even as little as one cent.

    Similarly, at the Whitney, a US$2 million donation last year by Trustee and artist Julie Mehretu has helped enable free entry for under-25s.

    These examples show how paying visitors can support a museum’s sustainability while preserving subsidised access for priority groups.

    Across Europe, major museums including the Louvre and Uffizi are also increasing prices, though many retain periodic free days to ensure accessibility.

    In the UK, smaller regional museums are resorting to admission charges for the first time in their histories.

    Meanwhile, commentators such as cultural historian Ben Lewis argue major institutions such as the British Museum should start charging general admission fees to supplement stagnant government funding and decrease dependence on potentially unethical corporate donors.

    This would allow the museums to pay competitive wages and fund essential work, Lewis argues.

    Lewis’s concerns about corporate donations accord with debates taking place internationally and in Australia around the role of big oil, mining and pharmaceutical companies that use the arts to “greenwash” their public brand.

    Can accessiblity be prioritised in Australia?

    The MCA’s situation, which reflects international trends, raises questions about arts funding and access.

    Both the NSW and federal governments’ arts policies recognise the value of providing access to the arts. As the NSW government’s Creative Communities policy notes, “the right to participate in arts, cultural and creative activities is a fundamental human right.”

    The MCA excelled in this regard under its free admission policy, attracting a diverse audience that other museums often struggled to reach. In 2023, about half of the museums on-site visitors were under 35, and 45% were from culturally and linguistically diverse backgrounds.

    The NSW government’s policy – along with its national counterpart Revive – also emphasises the importance of telling Australian stories. This is another area the MCA has excelled in.

    The question then is: if the state and federal governments value equitable access to the arts and appreciates the platforming of Australian stories, will they commit to a more sustainable funding arrangement for organisations like the MCA?

    Without such a commitment, the gap between those who can afford to attend museums and those who can’t will continue to widen – compromising the democratic ideal of an accessible cultural sector.

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

    – ref. Sydney’s Museum of Contemporary Art is now charging for entry. It’s a sign our cultural sector needs help – https://theconversation.com/sydneys-museum-of-contemporary-art-is-now-charging-for-entry-its-a-sign-our-cultural-sector-needs-help-247458

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: What’s in the supplements that claim to help you cut down on bathroom breaks? And do they work?

    Source: The Conversation (Au and NZ) – By Nial Wheate, Professor of Pharmaceutical Chemistry, Macquarie University

    Christian Moro/Shutterstock

    With one in four Australian adults experiencing problems with incontinence, some people look to supplements for relief.

    With ingredients such as pumpkin seed oil and soybean extract, a range of products promise relief from frequent bathroom trips.

    But do they really work? Let’s sift through the claims and see what the science says about their efficacy.

    What is incontinence?

    Incontinence is the involuntary loss of bladder or bowel control, leading to the unintentional leakage of urine or faeces. It can range from occasional minor leaks to a complete inability to control urination and defecation.

    This condition can significantly impact daily activities and quality of life, and affects women more often than it affects men.

    Some people don’t experience bladder leakage but can sometimes feel an urgent need to go to the bathroom. This is known as overactive bladder syndrome, and occurs when the muscles around the bladder tighten on their own, which greatly reduces its capacity. The result is the person feels the need to go to the bathroom much more frequently.

    There are many potential causes of incontinence and overactive bladders, including menopause, pregnancy and child birth, urinary tract infections, pelvic floor disorders, and an enlarged prostate. Conditions such as diabetes, neurological disorders and certain medications (such as diuretics, sleeping pills, antidepressants and blood-pressure drugs) can also contribute.

    While pelvic muscle rehabilitation and behavioural techniques for bladder retraining can be helpful, some people are interested in pharmaceutical solutions.

    What’s in these products?

    A number of supplements are available in Australia that include ingredients used in traditional medicine for urinary incontinence and overactive bladders. The three most common ingredients are:

    • Cucurbita pepo (pumpkin seed extract)

    • glycine max (soybean extract)

    • an extract from the bark of the Crateva magna or nurvala (Varuna) tree.

    The supplements have common ingredients.
    Author

    How are they supposed to work?

    Pumpkin seeds are rich in plant sterols that are thought to reduce the testosterone-related enlargement of the prostate, as well as having broader anti-inflammatory effects. The seed extracts can also contain oleic acid, which may help increase bladder capacity by relaxing the muscles around the organ.

    Soybean extracts are rich in isoflavones, especially daidzen and genistein. Like olieic acid, these are thought to act on the muscles around the bladder. Because isoflavones are similar in structure to the female hormone oestrogen, soy extracts may be most beneficial for postmenopausal women who have overactive bladders.

    Crateva extract is rich in lupeol- and sterol-based chemicals which have strong anti-inflammatory effects. This has benefits not just for enlarged prostates but possibly also for reducing urinary tract infections.

    Do they actually work?

    It’s important to note that the government has only approved these types of supplements as “listed medicines”. This means the ingredients have only been assessed for safety. The companies behind the products have not had to provide evidence they actually work.

    A 2014 clinical trial examined a combined pumpkin seed and soybean extract called cucurflavone on people with overactive bladders. The 120 participants received either a placebo or a daily 1,000mg dose of the herbal mixture over a period of 12 weeks.

    By the end of study, those in the cucurflavone group went to the bathroom around three fewer times per day, compared with people in the control group, who only went to the bathroom on average one fewer time each day.

    In a different trial, researchers examined a combination of Crateva bark extract with herbal extracts of horsetail and Japanese evergreen spicebush, called Urox.

    For the 150 participants, the Urox formulation helped participants go to the bathroom less frequently when compared with placebo treatment.

    After eight weeks of treatment, participants in the placebo group were going to the bathroom to urinate 11 times per day. Those in the Urox group were only going around to 7.5 times per day. And those who took Urox also needed to go to the bathroom one fewer time during the night.

    Finally, another study also examined a Creteva, horsetail and Japanese spicebush combination, but this time in children. They were given either a 420mg dose of the supplement or a placebo, and then monitored for how many times they wet the bed.

    After two months of taking the supplement, slightly more than 40% of the 24 kids in the supplement group wet the bed less often.

    While these results may look promising, there are considerable limitations to the studies which means the data may not be reliable. For example, the trials didn’t include enough participants to have reliable data. To conclusively provide efficacy, final-stage clinical trials require data for between 300 and 3,000 patients.

    From the studies, it is also not clear whether some participants were also taking other medicines as well as the supplement. This is important, as medications can interfere with how the supplements work, potentially making them less or more effective.

    What if you want to take them?

    If you have incontinence or an overactive bladder, you should always discuss this with your doctor, as it may due to a serious or treatable underlying condition.

    Otherwise, your GP may give you strategies or exercises to improve your bladder control, prescribe medications or devices, or refer you to a specialist.

    If you do decide to take a supplement, discuss this with your doctor and local pharmacist so they can check that any product you choose will not interfere with any other medications you may be taking.

    Nial Wheate in the past has received funding from the ACT Cancer Council, Tenovus Scotland, Medical Research Scotland, Scottish Crucible, and the Scottish Universities Life Sciences Alliance. He is a fellow of the Royal Australian Chemical Institute, a member of the Australasian Pharmaceutical Science Association and a member of the Australian Institute of Company Directors. Nial is the chief scientific officer of Vaihea Skincare LLC, a director of SetDose Pty Ltd (a medical device company) and was previously a Standards Australia panel member for sunscreen agents. Nial regularly consults to industry on issues to do with medicine risk assessments, manufacturing, design, and testing.

    – ref. What’s in the supplements that claim to help you cut down on bathroom breaks? And do they work? – https://theconversation.com/whats-in-the-supplements-that-claim-to-help-you-cut-down-on-bathroom-breaks-and-do-they-work-245755

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: As the Myanmar junta’s hold on power weakens, could the devastating war be nearing a conclusion?

    Source: The Conversation (Au and NZ) – By Adam Simpson, Senior Lecturer, International Studies, University of South Australia

    It has now been four years since the Myanmar military launched its cataclysmic coup against the democratically elected government of Aung San Suu Kyi on February 1 2021, starting a civil war that has devastated the country.

    Suu Kyi remains locked up, as do countless other activists and regime opponents. There is no easy resolution in sight.

    Indeed, the country is at a nadir. The war has sparked an economic crisis that has destroyed Myanmar’s health and education systems. Half the population now lives in poverty, double the rate from before the coup. The deteriorating electricity network causes widespread blackouts.

    According to the United Nations, more than 5,000 civilians have been killed and 3.3 million people have been displaced by the fighting. More than 27,000 people have also been arrested, with reports of sexual violence and torture rife.

    Nevertheless, opposition forces – including ethnic armies and the People’s Defence Force militias drawn from the civilian population – have been gathering strength, with a string of victories against the junta’s army.

    The regime now controls less than half the country. And recent strategic losses are weighing heavily on the military leaders, raising questions about whether the government could suddenly collapse like the Assad regime in Syria late last year.

    As the war enters a fifth year, there are two significant things to watch that could determine the country’s future – the battleground gains made by the opposition forces and the state of the failing economy.

    Junta under pressure on the battlefield

    Following the opposition Three Brotherhood Alliance’s battleground successes in late 2023, China brokered a ceasefire between the junta and alliance in northern Shan State.

    When that ceasefire ended last June, the Myanmar National Democratic Alliance Army (MNDAA), one of the members of the alliance, captured the key trading town of Lashio, as well as the junta’s nearby Northeast Regional Military Command. It was the first time one of the 14 regional military commands had fallen to an opposition group in more than 50 years of military rule.

    China has recently brokered another ceasefire between the MNDAA and the military, according to the Chinese foreign ministry. The terms have not been made public, but unless the insurgents relinquish Lashio and the military command – which is unlikely – it won’t alter the balance of power.

    In December, the military lost another command centre in Rakhine State in western Myanmar to the Arakan Army, another member of the Three Brotherhood Alliance. The Arakan Army now controls 14 of that state’s 17 townships.

    The Arakan Army, too, said recently it is open to political dialogue to potentially end the fighting. But it, too, is only likely to stop its military offensives for extremely favourable terms.

    In a major study undertaken in late 2024, the BBC assessed the junta only had full control of 21% of Myanmar’s territory. Ethnic armies and other opposition forces controlled 42% of the country, while the remaining areas were contested.

    In response, the junta has intensified its “scorched earth” tactics in areas outside its control, including indiscriminate and deliberate strikes against civilians. With dwindling reserves of willing fighters, air power is the main combat advantage it holds over the opposition forces.

    Economic woes

    Myanmar’s economic situation four years after the coup shows, starkly, just how much has been lost.

    Myanmar is now experiencing a full-blown economic and currency crisis.

    The incremental gains in economic development, education, nutrition and health care of recent decades have been reversed very quickly. Three-quarters of the population is now living a subsistence existence.

    Many young people are fleeing abroad, joining resistance groups, or eking out dangerous livelihoods on the margins. To make matters worse, the junta activated a longstanding but dormant conscription law last February to boost its dwindling forces. Those who refuse the draft face five years in prison.

    In response to the Arakan Army’s successes, the junta is also isolating much of Rakhine State. This is contributing to widespread poverty and a looming famine, which could affect two million people.

    And in an attempt to control the digital space, the junta enacted a sweeping new cybersecurity law earlier this month. People can now be imprisoned for using a virtual private network or sharing information from banned websites, among many other offences.

    Could Myanmar fall apart?

    The ASEAN regional bloc, chaired by Malaysia this year, has done little to solve the crisis, although it hasn’t accepted the junta’s hollow plans to hold elections this year.

    Disagreements among the ASEAN members over strategy have ensured that little progress has been made. Thailand recently broke ranks to invite the junta’s foreign minister to regional talks about border security, even though the junta currently controls few of the country’s borders.

    An accelerated economic deterioration could contribute to further unrest and drive even more migrants to neighbouring countries. Already, the millions of Myanmar migrants living in Thailand have precipitated anti-migrant protests and mass arrests.

    So, given the combustible state of the country, could the junta’s hold on power suddenly collapse like the Assad regime in Syria last year?

    It’s not likely. Unlike Syria, the opposition in Myanmar is not heavily backed by major international players. China’s support for various insurgent actors comes and goes depending on political calculations, while the United States and European Union have provided little material support.

    In addition, the military has been effectively running Myanmar for 60 years and is well practised in counterinsurgency strategies. Although defections from the military continue, the conscription law is bolstering its numbers of – mostly reluctant – soldiers.

    However, the fall of Syria’s oppressive government – as well as the government in Myanmar’s neighbour, Bangladesh – demonstrates how fragile long-standing regimes can be, particularly when faced with persistent challenges from armed groups and a motivated population.

    And as in Syria, there are fears – particularly within China – that Myanmar could splinter along ethnic lines. The deteriorating security situation has led China to send its own private security corporations to secure its strategic investments in the country and become an active ceasefire deal-maker.

    Even if the junta can be ousted, creating a workable federal system that involves power-sharing among the complex patchwork of ethnic groups will be a difficult task. The question of how to reintegrate nearly a million Rohingya displaced across the border in Bangladesh is another daunting challenge.

    However, for the first time in years, there is optimism that opposition forces could eventually succeed in vanquishing the junta. Then begins the arduous task of rebuilding a shattered nation.

    As a pro vice-chancellor at the University of Tasmania, Nicholas Farrelly engages with a wide range of organisations and stakeholders on educational, cultural and political issues, including at the ASEAN-Australia interface. He has previously received funding from the Australian government for Southeast Asia-related projects and from the Australian Research Council. Nicholas is on the advisory board of the ASEAN-Australia Centre, which is a new Australian government body, and also deputy chair of the board of NAATI, Australia’s government-owned accreditation authority for translators and interpreters. He writes in his personal capacity.

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

    – ref. As the Myanmar junta’s hold on power weakens, could the devastating war be nearing a conclusion? – https://theconversation.com/as-the-myanmar-juntas-hold-on-power-weakens-could-the-devastating-war-be-nearing-a-conclusion-247987

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: When news is stressful, how do you balance staying informed with ‘doomscrolling’?

    Source: The Conversation (Au and NZ) – By Lisa Harrison, Lecturer in Digital Communications, Flinders University

    Mart Production/Pexels

    It all begins innocently – a late-night peek at your favourite social media site before bed. You catch a headline that grabs your attention with “breaking news” you can’t afford to miss.

    Like following digital breadcrumbs, one click leads to another. Before you know it, you’re tumbling down a rabbit hole of endless updates and emotionally charged social media posts. Two hours later, your shoulders are tense, your stomach is in knots, but you can’t put your phone down.

    This endless scrolling through bad news – known as “doomscrolling” – sneaks up on us.

    It’s important to stay in touch with what’s happening in the world. Being informed helps us make better decisions, engage meaningfully in our communities, and respond effectively to changes that affect our lives and those around us.

    But just like a healthy diet, we must be smart about our news consumption to avoid it taking a toll on our health.

    The good news is there are proven ways to stay informed without letting it take over your life. Research shows setting clear boundaries around your news consumption can make a huge difference. So, how can you strike the right balance?

    How to set boundaries with news consumption

    It’s worth considering why you feel compelled to stay constantly informed. Ask yourself: “will this information change what I can do about it?”.

    Often, we scroll not because the information is actionable, but because we are trying to gain a sense of control in an uncertain world.

    Research shows scrolling through negative news can disrupt your sleep and increase anxiety. To make sure your media consumption is intentional, there are a few steps you can take.

    Be picky with the news sources you read. Choose a few trusted outlets instead of letting social media algorithms decide what you see. It’s like sticking to a balanced meal plan, but for your mind.

    While engaging with the news, pay close attention to how you’re feeling. When you notice physical signs of anxiety or emotional distress, that is your cue to take a break.

    Set aside time earlier in the day with clear boundaries around your news consumption: maybe with your morning coffee or during your lunch break, whatever works for your schedule. Consider implementing a “digital sunset”, too. This is a cut-off time for news and social media, ideally an hour or two before bedtime, to give your mind time to process what you have learned without disrupting your sleep.

    The world will always be there, but you will be in a better head space to process what is happening.

    You don’t have to feel helpless

    Taking breaks from consuming news is not burying your head in the sand – it’s practising self care. Studies have shown that people who set healthy boundaries around news consumption are often better equipped to engage meaningfully on important issues and take constructive action when needed.

    When you check the news, be an active consumer. Instead of endless scrolling:

    • choose one or two in-depth articles to read thoroughly

    • discuss the news with colleagues, friends and family to process your feelings

    • look for solution-focused news stories that highlight positive change

    • take meaningful action on issues you care about.

    There are also various apps and tools that can help you form healthier digital habits. Productivity apps use various approaches to help you stay focused, providing ways to snap you out of mindless scrolling.

    News curation apps and apps that allow you to save articles to read later can help you establish a balanced news diet, and remove the urgent need to read everything immediately.

    Many smartphones now come equipped with screen time management features, such as Apple’s Screen Time or Android’s Digital Wellbeing. You can use these to monitor your scrolling habits and to manage how much time you spend on social media or news apps.

    One useful feature is to block apps from use during certain times of day or after you’ve used them for a set amount of time.

    Screen time management features allow you to pause or block apps from use.
    The Conversation

    Stay mindful, stay engaged

    Staying informed doesn’t mean staying constantly connected. By mindfully setting boundaries and using supportive tools, you can keep up with important events while protecting your wellbeing.

    If you’re trying productivity apps and other tools, start small. Choose one tool that resonates with you rather than trying everything at once. Set realistic goals that fit your life, and use these apps’ insights to understand your habits better.

    Pay attention to what triggers your doomscrolling and adjust your settings accordingly. Remember, these tools work best when combined with offline activities you enjoy.

    The goal isn’t to disconnect completely, but to find a sustainable balance between staying informed and maintaining peace of mind. With thoughtful boundaries and the right support tools, you can stay engaged with the world while keeping your mental health intact.

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

    – ref. When news is stressful, how do you balance staying informed with ‘doomscrolling’? – https://theconversation.com/when-news-is-stressful-how-do-you-balance-staying-informed-with-doomscrolling-248017

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: C&F Financial Corporation Announces Net Income for 2024

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., Jan. 28, 2025 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, today reported consolidated net income of $6.0 million for the fourth quarter of 2024, compared to $5.1 million for the fourth quarter of 2023. The Corporation reported consolidated net income of $19.9 million for the year ended December 31, 2024, compared to $23.7 million for the year ended December 31, 2023. The following table presents selected financial performance highlights for the periods indicated:

                                   
        For The Quarter Ended   For the Year Ended  
    Consolidated Financial Highlights (unaudited)   12/31/2024     12/31/2023   12/31/2024     12/31/2023  
    Consolidated net income (000’s)   $ 6,029     $ 5,088   $ 19,918     $ 23,746  
                                   
    Earnings per share – basic and diluted   $ 1.87     $ 1.50   $ 6.01     $ 6.92  
                                   
    Annualized return on average equity     10.60 %     10.06 %   9.02 %     11.68 %
    Annualized return on average tangible common equity1     12.17 %     11.74 %   10.37 %     13.58 %
    Annualized return on average assets     0.94 %     0.85 %   0.80 %     0.99 %

    _________________
    1 For more information about these non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles (GAAP), please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

    “While the past year’s financial performance reflected the challenges of a dynamic interest rate environment, our fourth quarter earnings were solid, and we are optimistic of earnings momentum heading into the coming year,” commented Tom Cherry, President and Chief Executive Officer of C&F Financial Corporation. “Our net interest margin was down for 2024, however, it stabilized in the fourth quarter, and we are cautiously optimistic about margin performance in 2025. The community banking segment delivered solid loan and deposit growth across all markets. Despite facing headwinds from higher mortgage rates and a low inventory of homes for sale, the mortgage banking segment increased its loan production and net income over 2023. While higher charge-offs weighed on profitability at the consumer finance segment, we were able to achieve significant operational efficiencies during 2024. Despite obstacles and adversities that continually confront the banking industry in general, we believe C&F is well-positioned for the future.”

    Key highlights for the fourth quarter and the year ended December 31, 2024 are as follows.

    • Community banking segment loans grew $21.5 million, or 6.0 percent annualized, and $180.0 million, or 14.1 percent, compared to September 30, 2024 and December 31, 2023, respectively;
    • Consumer finance segment loans decreased $10.5 million, or 8.8 percent annualized, and $1.7 million, or less than one percent, compared to September 30, 2024 and December 31, 2023, respectively;
    • Deposits increased $35.0 million, or 6.6 percent annualized, and $104.7 million, or 5.1 percent, compared to September 30, 2024 and December 31, 2023, respectively;
    • Consolidated annualized net interest margin was 4.13 percent for the fourth quarter of 2024 compared to 4.17 percent for the fourth quarter of 2023 and 4.13 percent in the third quarter of 2024. Consolidated net interest margin was 4.12 percent for the year ended December 31, 2024 compared to 4.31 percent for the year ended December 31, 2023;
    • The community banking segment recorded no provision for credit losses for the fourth quarter of 2024 and $75,000 for the fourth quarter of 2023, and recorded provision for credit losses of $1.7 million and $1.6 million for the years ended December 31, 2024 and 2023, respectively;
    • The consumer finance segment recorded provision for credit losses of $3.5 million and $2.4 million for the fourth quarters of 2024 and 2023, respectively, and recorded provision for credit losses of $11.6 million and $6.7 million for the years ended December 31, 2024 and 2023, respectively;
    • The consumer finance segment experienced net charge-offs at an annualized rate of 3.40 percent of average total loans for the fourth quarter of 2024, compared to 2.72 percent for the fourth quarter of 2023. Net charge-offs as a percentage of average total loans were 2.62 percent for the year ended December 31, 2024, compared to 1.99 percent for the year ended December 31, 2023; and
    • Mortgage banking segment loan originations increased $32.2 million, or 32.8 percent, to $130.4 million for the fourth quarter of 2024 compared to the fourth quarter of 2023 and increased $29.0 million, or 5.8 percent, to $527.8 million for the year ended December 31, 2024 compared to the year ended December 31, 2023.

    Community Banking Segment. The community banking segment reported net income of $6.4 million for the fourth quarter of 2024, compared to $5.2 million for the same period of 2023, due primarily to:

    • higher interest income resulting from higher average balances of loans and the effects of higher interest rates on asset yields, offset in part by lower average balances of securities;
    • higher other income from bank owned life insurance policies; and
    • lower salaries and employee benefits expense due primarily to a reduction in headcount through attrition;

    partially offset by:

    • higher interest expense due primarily to higher rates on deposits and higher average balances of interest-bearing deposits, offset in part by lower average balances of borrowings.

    The community banking segment reported net income of $20.3 million for the year ended December 31, 2024, compared to $22.9 million for the same period of 2023, due primarily to:

    • higher interest expense resulting from higher rates on deposits and higher average balances of interest-bearing deposits, partially offset by lower average balances of borrowings;
    • higher data processing and consulting costs related to investments in operational technology to improve resilience, efficiency and customer experience;
    • higher occupancy expense related to branch network improvements, including the relocation of a branch and the opening of a new branch; and
    • higher salaries and employee benefits expense, which have generally increased in line with market conditions, offset in part by a reduction in headcount through attrition;

    partially offset by:

    • higher interest income resulting from higher average balances of loans and the effects of higher interest rates on asset yields, offset in part by lower average balances of securities;
    • higher wealth management services income due primarily to higher assets under management;
    • higher other income from bank owned life insurance policies; and
    • higher investment income from other equity investments.

    Average loans increased $180.8 million, or 14.4 percent, for the fourth quarter of 2024 and increased $164.0 million, or 13.5 percent, for the year ended December 31, 2024, compared to the same periods in 2023, due primarily to growth in the construction, commercial real estate, and residential mortgage segments of the loan portfolio. Average deposits increased $140.2 million, or 6.9 percent, for the fourth quarter of 2024 and increased $110.8 million, or 5.5 percent, for the year ended December 31, 2024, compared to the same periods in 2023, due primarily to higher balance of time deposits, partially offset by decreases in savings and interest-bearing demand deposits and noninterest-bearing demand deposits amid increased competition for deposits and the higher interest rate environment.

    Average loan yields and average costs of interest-bearing deposits were higher for the fourth quarter and the year ended December 31, 2024, compared to the same periods of 2023, due primarily to the effects of the higher interest rate environment.

    The community banking segment’s nonaccrual loans were $333,000 at December 31, 2024 compared to $406,000 at December 31, 2023. The community banking segment recorded no provision for credit losses for the fourth quarter of 2024 and $1.7 million for the year ended December 31, 2024 compared to $75,000 and $1.6 million for the same periods of 2023. At December 31, 2024, the allowance for credit losses increased to $17.4 million, compared to $16.1 million at December 31, 2023. The allowance for credit losses as a percentage of total loans decreased to 1.20 percent at December 31, 2024 from 1.26 percent at December 31, 2023. The increases in provision and allowance for credit losses are due primarily to growth in the loan portfolio. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected.

    Mortgage Banking Segment. The mortgage banking segment reported net income of $87,000 and $1.1 million for the fourth quarter and year ended December 31, 2024, respectively, compared to a net loss of $103,000 and net income of $465,000 for the same periods of 2023, due primarily to:

    • higher gains on sales of loans and higher mortgage banking fee income due to higher volume of mortgage loan originations; and
    • lower occupancy expenses due to an effort to reduce overhead costs;

    partially offset by:

    • higher variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits; and
    • lower reversal of provision for indemnifications.

    The sustained elevated level of mortgage interest rates, combined with higher home prices and lower levels of inventory, led to a level of mortgage loan originations in 2024 and 2023 for the industry that is lower than recent historical averages. Mortgage loan originations for the mortgage banking segment were $130.4 million for the fourth quarter of 2024, comprised of $15.9 million refinancings and $114.5 million home purchases, compared to $98.2 million, comprised of $12.5 million refinancings and $85.7 million home purchases, for the same period in 2023. Mortgage loan originations for the mortgage banking segment were $527.8 million for the year ended December 31, 2024, comprised of $50.2 million refinancings and $477.6 million home purchases, compared to $498.8 million, comprised of $52.7 million refinancings and $446.1 million home purchases, for the same period in 2023. Mortgage loan originations in the fourth quarter of 2024 decreased $26.6 million compared to the third quarter of 2024 due in part to normal industry seasonal fluctuations. Mortgage loan segment originations include originations of loans sold to the community banking segment, at prices similar to those paid by third-party investors. These transactions are eliminated to reach consolidated totals.

    During the fourth quarter and year ended December 31, 2024, the mortgage banking segment recorded a reversal of provision for indemnification losses of $85,000 and $460,000, respectively, compared to a reversal of provision for indemnification losses of $150,000 and $585,000 in the same periods of 2023. The mortgage banking segment increased reserves for indemnification losses during 2020 based on widespread forbearance on mortgage loans and economic uncertainty related to the COVID-19 pandemic. The release of indemnification reserves in 2024 and 2023 was due primarily to improvement in the mortgage banking segment’s assessment of borrower payment performance, lower volume of mortgage loan originations in recent years and other factors affecting expected losses on mortgage loans sold in the secondary market, such as time since origination. Management believes that the indemnification reserve is sufficient to absorb losses related to loans that have been sold in the secondary market.

    Consumer Finance Segment. The consumer finance segment reported net income of $272,000 and $1.4 million for the fourth quarter and year ended December 31, 2024, respectively, compared to net income of $618,000 and $2.9 million for the same periods in 2023. The decreases in consumer finance segment net income were due primarily to:

    • higher provision for credit losses due primarily to increased net charge-offs; and
    • higher interest expense on variable rate borrowings from the community banking segment as a result of higher interest rates and higher average balances of borrowings;

    partially offset by:

    • higher interest income resulting from the effects of higher interest rates on loan yields and higher average balances of loans;
    • lower salaries and employee benefits expense due to an effort to reduce overhead costs; and
    • lower loan processing and collection expenses due primarily to efficiency initiatives within the collections department.

    Average loans increased $2.5 million, or one percent, for the fourth quarter of 2024 and increased $2.9 million, or one percent, for the year ended December 31, 2024, compared to the same periods in 2023. The consumer finance segment experienced net charge-offs at a rate of 2.62 percent of average total loans for the year ended December 31, 2024, compared to 1.99 percent for the year ended December 31, 2023, due primarily to an increase in the number of delinquent loans, the number of repossessions, and the average amount charged-off when a loan was uncollectable. Higher amounts charged-off per loan resulted in part from larger loan amounts, generally purchased in 2020 and 2021 when automobile values were higher, being charged-off in the current year, with the wholesale values of automobiles having declined since then. At December 31, 2024, total delinquent loans as a percentage of total loans was 3.90 percent, compared to 4.09 percent at December 31, 2023, and 3.49 percent at September 30, 2024.

    The consumer finance segment, at times, offers payment deferrals as a portfolio management technique to achieve higher ultimate cash collections on select loan accounts. A significant reliance on deferrals as a means of managing collections may result in a lengthening of the loss confirmation period, which would increase expectations of credit losses inherent in the portfolio. Average amounts of payment deferrals of automobile loans on a monthly basis, which are not included in delinquent loans, were 2.11 percent and 1.80 percent of average automobile loans outstanding during the fourth quarter and year ended December 31, 2024, respectively, compared to 2.02 percent and 1.87 percent during the same periods during 2023. The allowance for credit losses was $22.7 million at December 31, 2024 and $23.6 million at December 31, 2023. The allowance for credit losses as a percentage of total loans decreased to 4.86 percent at December 31, 2024 from 5.03 percent at December 31, 2023, primarily as a result of growth in loans with stronger credit quality while balances of loans with lower credit quality declined. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected. If loan performance deteriorates resulting in further elevated delinquencies or net charge-offs, the provision for credit losses may increase in future periods.

    Liquidity. The objective of the Corporation’s liquidity management is to ensure the continuous availability of funds to satisfy the credit needs of our customers and the demands of our depositors, creditors and investors. Uninsured deposits represent an estimate of amounts above the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000. As of December 31, 2024, the Corporation’s uninsured deposits were approximately $640.2 million, or 29.5 percent of total deposits. Excluding intercompany cash holdings and municipal deposits, which are secured with pledged securities, amounts uninsured were approximately $455.2 million, or 21.0 percent of total deposits as of December 31, 2024. The Corporation’s liquid assets, which include cash and due from banks, interest-bearing deposits at other banks and nonpledged securities available for sale, were $288.1 million and borrowing availability was $606.2 million as of December 31, 2024, which in total exceed uninsured deposits, excluding intercompany cash holdings and secured municipal deposits, by $439.1 million as of December 31, 2024.

    In addition to deposits, the Corporation utilizes short-term and long-term borrowings as sources of funds. Short-term borrowings from the Federal Reserve Bank and the Federal Home loan Bank of Atlanta (FHLB) may be used to fund the Corporation’s day-to-day operations. Short-term borrowings also include securities sold under agreements to repurchase. Total borrowings increased to $122.6 million at December 31, 2024 from $109.5 million at December 31, 2023 due primarily to higher long-term borrowings from the FHLB used in part to fund loan growth.

    Additional sources of liquidity available to the Corporation include cash flows from operations, loan payments and payoffs, deposit growth, maturities, calls and sales of securities and the issuance of brokered certificates of deposit.

    Capital and Dividends. The Corporation declared cash dividends during the year ended December 31, 2024 totaling $1.76 per share, including a quarterly cash dividend of 44 cents per share during the fourth quarter of 2024, which was paid on January 1, 2025. These dividends represent a payout ratio of 23.5 percent of earnings per share for the fourth quarter of 2024 and 29.3 percent of earnings per share for the year ended December 31, 2024. The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital requirements, and expected future earnings.

    Total consolidated equity increased $9.5 million at December 31, 2024, compared to December 31, 2023, due primarily to net income and lower unrealized losses in the market value of securities available for sale, which are recognized as a component of other comprehensive income, partially offset by share repurchases and dividends paid on the Corporation’s common stock. The Corporation’s securities available for sale are fixed income debt securities and their unrealized loss position is a result of rising market interest rates since they were purchased. The Corporation expects to recover its investments in debt securities through scheduled payments of principal and interest. Unrealized losses are not expected to affect the earnings or regulatory capital of the Corporation or C&F Bank. The accumulated other comprehensive loss related to the Corporation’s securities available for sale, net of deferred income taxes, decreased to $23.7 million at December 31, 2024 compared to $25.0 million at December 31, 2023 due primarily to fluctuations in debt security market interest rates and a decrease in the balance of securities available for sale.

    As of December 31, 2024, the most recent notification from the FDIC categorized the C&F Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at December 31, 2024, C&F Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios. In addition to the regulatory risk-based capital requirements, C&F Bank must maintain a capital conservation buffer of additional capital of 2.5 percent of risk-weighted assets as required by the Basel III capital rules. The Corporation and C&F Bank exceeded these ratios at December 31, 2024. For additional information, see “Capital Ratios” below. The above mentioned ratios are not impacted by unrealized losses on securities available for sale. In the event that all of these unrealized losses became realized into earnings, the Corporation and C&F Bank would both continue to exceed minimum capital requirements, including the capital conservation buffer, and be considered well capitalized.

    In December 2023, the Board of Directors authorized a program, effective January 1, 2024 through December 31, 2024, to repurchase up to $10.0 million of the Corporation’s common stock (the 2024 Repurchase Program). During the fourth quarter and year ended December 31, 2024, the Corporation repurchased 11,100 shares, or $679,000, and 160,694 shares, or $7.9 million, of its common stock under the 2024 Repurchase Program, respectively. In December 2024, the Board of Directors authorized a new program, effective January 1, 2025 through December 31, 2025, to repurchase up to $5.0 million of the Corporation’s common stock through December 31, 2025 (the 2025 Repurchase Program).

    About C&F Financial Corporation. The Corporation’s common stock is listed for trading on The Nasdaq Stock Market under the symbol CFFI. The common stock closed at a price of $75.40 per share on January 27, 2025. At December 31, 2024, the book value per share of the Corporation was $70.00 and the tangible book value per share was $61.86. For more information about the Corporation’s tangible book value per share, which is not calculated in accordance with GAAP, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

    C&F Bank operates 31 banking offices and four commercial loan offices located throughout eastern and central Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company provides automobile, marine and recreational vehicle loans through indirect lending programs offered primarily in the Northeastern, Midwestern and Southern United States from its headquarters in Henrico, Virginia.

    Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission (SEC), are available on the Corporation’s website at http://www.cffc.com.

    Use of Certain Non-GAAP Financial Measures. The accounting and reporting policies of the Corporation conform to GAAP in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of the Corporation’s performance. These include adjusted net income, adjusted earnings per share, adjusted return on average equity, adjusted return on average assets, return on average tangible common equity (ROTCE), adjusted ROTCE, tangible book value per share, price to tangible book value ratio, and the following fully-taxable equivalent (FTE) measures: interest income on loans-FTE, interest income on securities-FTE, total interest income-FTE and net interest income-FTE.

    Management believes that the use of these non-GAAP measures provides meaningful information about operating performance by enhancing comparability with other financial periods, other financial institutions, and between different sources of interest income. The non-GAAP measures used by management enhance comparability by excluding the effects of balances of intangible assets, including goodwill, that vary significantly between institutions, and tax benefits that are not consistent across different opportunities for investment. These non-GAAP financial measures should not be considered an alternative to GAAP-basis financial statements, and other bank holding companies may define or calculate these or similar measures differently. A reconciliation of the non-GAAP financial measures used by the Corporation to evaluate and measure the Corporation’s performance to the most directly comparable GAAP financial measures is presented below.

    Forward-Looking Statements. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the beliefs of the Corporation’s management, as well as assumptions made by, and information currently available to, the Corporation’s management, and reflect management’s current views with respect to certain events that could have an impact on the Corporation’s future financial performance. These statements, including without limitation statements made in Mr. Cherry’s quote and statements regarding future interest rates and conditions in the Corporation’s industries and markets, relate to expectations concerning matters that are not historical fact, may express “belief,” “intention,” “expectation,” “potential” and similar expressions, and may use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “might,” “will,” “intend,” “target,” “should,” “could,” or similar expressions. These statements are inherently uncertain, and there can be no assurance that the underlying assumptions will prove to be accurate. Actual results could differ materially from those anticipated or implied by such statements. Forward-looking statements in this release may include, without limitation, statements regarding expected future operations and financial performance, expected trends in yields on loans, expected future recovery of investments in debt securities, future dividend payments, deposit trends, charge-offs and delinquencies, changes in cost of funds and net interest margin and items affecting net interest margin, strategic business initiatives and the anticipated effects thereof, changes in interest rates and the effects thereof on net interest income, mortgage loan originations, expectations regarding C&F Bank’s regulatory risk-based capital requirement levels, technology initiatives, our diversified business strategy, asset quality, credit quality, adequacy of allowances for credit losses and the level of future charge-offs, market interest rates and housing inventory and resulting effects in mortgage loan origination volume, sources of liquidity, adequacy of the reserve for indemnification losses related to loans sold in the secondary market, the effect of future market and industry trends, the effects of future interest rate fluctuations, cybersecurity risks, and inflation. Factors that could have a material adverse effect on the operations and future prospects of the Corporation include, but are not limited to, changes in:

    • interest rates, such as volatility in short-term interest rates or yields on U.S. Treasury bonds, increases in interest rates following actions by the Federal Reserve and increases or volatility in mortgage interest rates
    • general business conditions, as well as conditions within the financial markets
    • general economic conditions, including unemployment levels, inflation rates, supply chain disruptions and slowdowns in economic growth
    • general market conditions, including disruptions due to pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts between Russia and Ukraine and in the Middle East) or other major events, or the prospect of these events
    • average loan yields and average costs of interest-bearing deposits
    • financial services industry conditions, including bank failures or concerns involving liquidity
    • labor market conditions, including attracting, hiring, training, motivating and retaining qualified employees
    • the legislative/regulatory climate, regulatory initiatives with respect to financial institutions, products and services, the Consumer Financial Protection Bureau (the CFPB) and the regulatory and enforcement activities of the CFPB
    • monetary and fiscal policies of the U.S. Government, including policies of the FDIC, U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System, and the effect of these policies on interest rates and business in our markets
    • demand for financial services in the Corporation’s market area
    • the value of securities held in the Corporation’s investment portfolios
    • the quality or composition of the loan portfolios and the value of the collateral securing those loans
    • the inventory level, demand and fluctuations in the pricing of used automobiles, including sales prices of repossessed vehicles
    • the level of automobile loan delinquencies or defaults and our ability to repossess automobiles securing delinquent automobile finance installment contracts
    • the level of net charge-offs on loans and the adequacy of our allowance for credit losses
    • the level of indemnification losses related to mortgage loans sold
    • demand for loan products
    • deposit flows
    • the strength of the Corporation’s counterparties
    • the availability of lines of credit from the FHLB and other counterparties
    • the soundness of other financial institutions and any indirect exposure related to the closing of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Corporation has commercial or deposit relationships
    • competition from both banks and non-banks, including competition in the non-prime automobile finance markets and marine and recreational vehicle finance markets
    • services provided by, or the level of the Corporation’s reliance upon third parties for key services
    • the commercial and residential real estate markets, including changes in property values
    • the demand for residential mortgages and conditions in the secondary residential mortgage loan markets
    • the Corporation’s technology initiatives and other strategic initiatives
    • the Corporation’s branch expansions and consolidations plans
    • cyber threats, attacks or events
    • C&F Bank’s product offerings
    • accounting principles, policies and guidelines, and elections by the Corporation thereunder

    These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. For additional information on risk factors that could affect the forward-looking statements contained herein, see the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2023 and other reports filed with the SEC. The Corporation undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

     
    C&F Financial Corporation

    Selected Financial Information
    (dollars in thousands, except for per share data)
    (unaudited)
     
    Financial Condition   12/31/2024   12/31/2023  
    Interest-bearing deposits in other banks   $ 49,423   $ 58,777  
    Investment securities – available for sale, at fair value     418,625     462,444  
    Loans held for sale, at fair value     20,112     14,176  
    Loans, net:              
    Community Banking segment     1,436,226     1,257,557  
    Consumer Finance segment     444,085     444,931  
    Total assets     2,563,385     2,438,498  
    Deposits     2,170,860     2,066,130  
    Repurchase agreements     28,994     30,705  
    Other borrowings     93,615     78,834  
    Total equity     226,970     217,516  
                                     
        For The     For The  
        Quarter Ended     Year Ended  
    Results of Operations   12/31/2024     12/31/2023     12/31/2024     12/31/2023  
    Interest income   $ 36,443     $ 32,408     $ 139,594     $ 124,137  
    Interest expense     11,343       8,466       42,819       26,430  
    Provision for credit losses:                                
    Community Banking segment     –       75       1,650       1,625  
    Consumer Finance segment     3,500       2,400       11,600       6,650  
    Noninterest income:                                
    Gains on sales of loans     1,250       850       6,064       5,780  
    Other     5,700       6,953       24,474       23,835  
    Noninterest expenses:                                
    Salaries and employee benefits     11,953       14,035       53,578       54,876  
    Other     9,363       9,038       36,352       35,007  
    Income tax expense     1,205       1,109       4,215       5,418  
    Net income     6,029       5,088       19,918       23,746  
                                     
    Fully-taxable equivalent (FTE) amounts1                                
    Interest income on loans-FTE     33,122       29,147       127,288       111,146  
    Interest income on securities-FTE     3,046       3,121       12,079       12,710  
    Total interest income-FTE     36,731       32,677       140,741       125,101  
    Net interest income-FTE     25,388       24,211       97,922       98,671  

    _________________
    1 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                                       
        For the Quarter Ended  
        12/31/2024   12/31/2023  
        Average   Income/   Yield/   Average   Income/   Yield/  
    Yield Analysis   Balance   Expense   Rate   Balance   Expense   Rate  
    Assets                                  
    Securities:                                  
    Taxable   $ 321,796     $ 1,898   2.36 % $ 392,368     $ 2,093   2.13 %
    Tax-exempt     120,119       1,148   3.82     118,263       1,028   3.48  
    Total securities     441,915       3,046   2.76     510,631       3,121   2.44  
    Loans:                                  
    Community banking segment     1,438,195       20,036   5.54     1,257,418       16,813   5.30  
    Mortgage banking segment     30,674       486   6.30     22,288       383   6.82  
    Consumer finance segment     473,816       12,600   10.58     471,355       11,951   10.06  
    Total loans     1,942,685       33,122   6.78     1,751,061       29,147   6.60  
    Interest-bearing deposits in other banks     58,212       563   3.85     42,114       409   3.85  
    Total earning assets     2,442,812       36,731   5.98     2,303,806       32,677   5.63  
    Allowance for credit losses     (40,930 )               (40,614 )            
    Total non-earning assets     159,082                 142,252              
    Total assets   $ 2,560,964               $ 2,405,444              
                                       
    Liabilities and Equity                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand deposits   $ 331,156       601   0.72   $ 341,243       556   0.65  
    Money market deposit accounts     299,321       1,136   1.51     299,712       896   1.19  
    Savings accounts     176,106       26   0.06     194,476       33   0.07  
    Certificates of deposit     811,224       8,325   4.08     635,702       5,665   3.54  
    Total interest-bearing deposits     1,617,807       10,088   2.48     1,471,133       7,150   1.93  
    Borrowings:                                  
    Repurchase agreements     30,673       131   1.71     33,418       126   1.51  
    Other borrowings     93,765       1,124   4.79     98,875       1,190   4.81  
    Total borrowings     124,438       1,255   4.03     132,293       1,316   3.98  
    Total interest-bearing liabilities     1,742,245       11,343   2.59     1,603,426       8,466   2.10  
    Noninterest-bearing demand deposits     547,890                 554,321              
    Other liabilities     43,379                 45,462              
    Total liabilities     2,333,514                 2,203,209              
    Equity     227,450                 202,235              
    Total liabilities and equity   $ 2,560,964               $ 2,405,444              
    Net interest income         $ 25,388             $ 24,211      
    Interest rate spread               3.39 %             3.53 %
    Interest expense to average earning assets               1.85 %             1.46 %
    Net interest margin               4.13 %             4.17 %
                                       
        For the Year Ended  
        12/31/2024   12/31/2023  
        Average   Income/   Yield/   Average   Income/   Yield/  
    Yield Analysis   Balance   Expense   Rate   Balance   Expense   Rate  
    Assets                                  
    Securities:                                  
    Taxable   $ 335,647     $ 7,563   2.25 % $ 428,895     $ 9,110   2.12 %
    Tax-exempt     119,978       4,516   3.76     108,006       3,600   3.33  
    Total securities     455,625       12,079   2.65     536,901       12,710   2.37  
    Loans:                                  
    Community banking segment     1,378,131       75,707   5.49     1,214,143       62,188   5.12  
    Mortgage banking segment     30,737       1,897   6.17     25,598       1,695   6.62  
    Consumer finance segment     476,775       49,684   10.42     473,885       47,263   9.97  
    Total loans     1,885,643       127,288   6.75     1,713,626       111,146   6.49  
    Interest-bearing deposits in other banks     37,238       1,374   3.69     35,351       1,245   3.52  
    Total earning assets     2,378,506       140,741   5.92     2,285,878       125,101   5.47  
    Allowance for loan losses     (40,736 )               (41,047 )            
    Total non-earning assets     156,726                 148,666              
    Total assets   $ 2,494,496               $ 2,393,497              
                                       
    Liabilities and Equity                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand deposits   $ 327,700       2,170   0.66   $ 354,643       2,134   0.60  
    Money market deposit accounts     296,278       4,313   1.46     317,601       3,017   0.95  
    Savings accounts     180,429       111   0.06     209,033       124   0.06  
    Certificates of deposit     767,721       31,465   4.10     541,252       15,112   2.79  
    Total interest-bearing deposits     1,572,128       38,059   2.42     1,422,529       20,387   1.43  
    Borrowings:                                  
    Repurchase agreements     27,754       456   1.64     32,393       399   1.23  
    Other borrowings     91,713       4,304   4.69     116,908       5,644   4.83  
    Total borrowings     119,467       4,760   3.98     149,301       6,043   4.05  
    Total interest-bearing liabilities     1,691,595       42,819   2.53     1,571,830       26,430   1.68  
    Noninterest-bearing demand deposits     536,828                 575,452              
    Other liabilities     45,217                 42,954              
    Total liabilities     2,273,640                 2,190,236              
    Equity     220,856                 203,261              
    Total liabilities and equity   $ 2,494,496               $ 2,393,497              
    Net interest income         $ 97,922             $ 98,671      
    Interest rate spread               3.39 %             3.79 %
    Interest expense to average earning assets               1.80 %             1.16 %
    Net interest margin               4.12 %             4.31 %
                       
        12/31/2024
    Funding Sources   Capacity   Outstanding   Available
    Unsecured federal funds agreements   $ 75,000   $ —   $ 75,000
    Borrowings from FHLB     257,734     40,000     217,734
    Borrowings from Federal Reserve Bank     313,499     —     313,499
    Total   $ 646,233   $ 40,000   $ 606,233
                   
    Asset Quality   12/31/2024   12/31/2023  
    Community Banking              
    Total loans   $ 1,453,605   $ 1,273,629  
    Nonaccrual loans   $ 333   $ 406  
                   
    Allowance for credit losses (ACL)   $ 17,379   $ 16,072  
    Nonaccrual loans to total loans     0.02 %   0.03 %
    ACL to total loans     1.20 %   1.26 %
    ACL to nonaccrual loans     5,218.92 %   3,958.62 %
    Year-to-date net charge-offs to average loans     0.01 %   0.01 %
                   
    Consumer Finance              
    Total loans   $ 466,793   $ 468,510  
    Nonaccrual loans   $ 614   $ 892  
    Repossessed assets   $ 779   $ 646  
    ACL   $ 22,708   $ 23,579  
    Nonaccrual loans to total loans     0.13 %   0.19 %
    ACL to total loans     4.86 %   5.03 %
    ACL to nonaccrual loans     3,698.37 %   2,643.39 %
    Year-to-date net charge-offs to average loans     2.62 %   1.99 %
                             
        For The   For The
        Quarter Ended   Year Ended
    Other Performance Data   12/31/2024   12/31/2023   12/31/2024   12/31/2023
    Net Income (Loss):                        
    Community Banking   $ 6,364     $ 5,186     $ 20,284     $ 22,928  
    Mortgage Banking     87       (103 )     1,108       465  
    Consumer Finance     272       618       1,414       2,879  
    Other1     (694 )     (613 )     (2,888 )     (2,526 )
    Total   $ 6,029     $ 5,088     $ 19,918     $ 23,746  
                             
    Net income attributable to C&F Financial Corporation   $ 6,037     $ 5,068     $ 19,834     $ 23,604  
                             
    Earnings per share – basic and diluted   $ 1.87     $ 1.50     $ 6.01     $ 6.92  
    Weighted average shares outstanding – basic and diluted     3,226,999       3,367,931       3,299,574       3,411,995  
                             
    Annualized return on average assets     0.94 %     0.85 %     0.80 %     0.99 %
    Annualized return on average equity     10.60 %     10.06 %     9.02 %     11.68 %
    Annualized return on average tangible common equity2     12.17 %     11.74 %     10.37 %     13.58 %
    Dividends declared per share   $ 0.44     $ 0.44     $ 1.76     $ 1.76  
                             
    Mortgage loan originations – Mortgage Banking   $ 130,426     $ 98,238     $ 527,750     $ 498,797  
    Mortgage loans sold – Mortgage Banking     154,552       109,387       522,001       498,852  

    _________________
    1 Includes results of the holding company that are not allocated to the business segments and elimination of inter-segment activity.
    2 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                   
    Market Ratios   12/31/2024     12/31/2023
    Market value per share   $ 71.25     $ 68.19
    Book value per share   $ 70.00     $ 64.28
    Price to book value ratio     1.02       1.06
    Tangible book value per share1   $ 61.86     $ 56.40
    Price to tangible book value ratio1     1.15       1.21
    Price to earnings ratio (ttm)     11.86       9.87

    _________________
    1 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                   
                   
                Minimum Capital
    Capital Ratios   12/31/2024   12/31/2023   Requirements3
    C&F Financial Corporation1              
    Total risk-based capital ratio   14.1%   14.8%   8.0%  
    Tier 1 risk-based capital ratio   11.9%   12.6%   6.0%  
    Common equity tier 1 capital ratio   10.7%   11.3%   4.5%  
    Tier 1 leverage ratio   9.8%   10.1%   4.0%  
                   
    C&F Bank2              
    Total risk-based capital ratio   13.6%   14.1%   8.0%  
    Tier 1 risk-based capital ratio   12.3%   12.9%   6.0%  
    Common equity tier 1 capital ratio   12.3%   12.9%   4.5%  
    Tier 1 leverage ratio   10.1%   10.3%   4.0%  

    _________________
    1 The Corporation, a small bank holding company under applicable regulations and guidance, is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented above, along with the Corporation’s capital ratios as determined under those regulations.
    2 All ratios at December 31, 2024 are estimates and subject to change pending regulatory filings. All ratios at December 31, 2023 are presented as filed.
    3 The ratios presented for minimum capital requirements are those to be considered adequately capitalized.

                             
        For The Quarter Ended   For The Year Ended
        12/31/2024   12/31/2023   12/31/2024   12/31/2023
    Reconciliation of Certain Non-GAAP Financial Measures                
    Return on Average Tangible Common Equity                        
    Average total equity, as reported   $ 227,450     $ 202,235     $ 220,856     $ 203,261  
    Average goodwill     (25,191 )     (25,191 )     (25,191 )     (25,191 )
    Average other intangible assets     (1,183 )     (1,439 )     (1,273 )     (1,538 )
    Average noncontrolling interest     (518 )     (515 )     (649 )     (675 )
    Average tangible common equity   $ 200,558     $ 175,090     $ 193,743     $ 175,857  
                             
    Net income   $ 6,029     $ 5,088     $ 19,918     $ 23,746  
    Amortization of intangibles     64       69       260       273  
    Net loss (income) attributable to noncontrolling interest     8       (20 )     (84 )     (142 )
    Net tangible income attributable to C&F Financial Corporation   $ 6,101     $ 5,137     $ 20,094     $ 23,877  
                             
    Annualized return on average equity, as reported     10.60 %     10.06 %     12.02 %     15.58 %
    Annualized return on average tangible common equity     12.17 %      11.74 %      10.37 %      13.58 % 
                                   
        For The Quarter Ended     For The Year Ended
        12/31/2024     12/31/2023     12/31/2024     12/31/2023
    Fully Taxable Equivalent Net Interest Income1                              
    Interest income on loans   $ 33,075     $ 29,093     $ 127,089     $ 110,938
    FTE adjustment     47       54       199       208
    FTE interest income on loans   $ 33,122     $ 29,147     $ 127,288     $ 111,146
                                   
    Interest income on securities   $ 2,805     $ 2,906     $ 11,131     $ 11,954
    FTE adjustment     241       215       948       756
    FTE interest income on securities   $ 3,046     $ 3,121     $ 12,079     $ 12,710
                                   
    Total interest income   $ 36,443     $ 32,408     $ 139,594     $ 124,137
    FTE adjustment     288       269       1,147       964
    FTE interest income   $ 36,731     $ 32,677     $ 140,741     $ 125,101
                                   
    Net interest income   $ 25,100     $ 23,942     $ 96,775     $ 97,707
    FTE adjustment     288       269       1,147       964
    FTE net interest income   $ 25,388     $ 24,211     $ 97,922     $ 98,671

    _________________
    1 Assuming a tax rate of 21%.

                 
        December 31,   December 31,
    (Dollars in thousands except for per share data)   2024   2023
    Tangible Book Value Per Share        
    Equity attributable to C&F Financial Corporation   $ 226,360     $ 216,878  
    Goodwill     (25,191 )     (25,191 )
    Other intangible assets     (1,147 )     (1,407 )
    Tangible equity attributable to C&F Financial Corporation   $ 200,022     $ 190,280  
                 
    Shares outstanding     3,233,672       3,374,098  
                 
    Book value per share   $ 70.00     $ 64.28  
    Tangible book value per share   $ 61.86     $ 56.40  
    Contact: Jason Long, CFO and Secretary
      (804) 843-2360

     

    The MIL Network –

  • MIL-OSI Africa: The Aid for Trade Initiative for Arab States (AfTIAS 2.0) Program Expands Regional Trade Initiatives Including Jordan Export Launchpad and Key Projects in Egypt and Algeria to Empower Small and Medium-sized Enterprises (SMEs) and Drive Economic Growth

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

    JEDDAH, Saudi Arabia, January 28, 2025/APO Group/ —

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org) is proud to continue its work on the Aid for Trade Initiative for Arab States (AfTIAS 2.0), a program designed to enhance the trade capacity and competitiveness of Arab states. Building on past achievements, AfTIAS 2.0 is focused on empowering small and medium-sized enterprises (SMEs) to navigate global markets and expand intra-regional trade.

    With an emphasis on policy reform and capacity building, AfTIAS 2.0 addresses the core challenges faced by businesses across the region, fostering economic development and facilitating trade.

    The AfTIAS 2.0 program is implemented across 10 Arab countries, all of which are members of the League of Arab States. These countries are the primary beneficiaries of the program, which aims to promote economic integration and sustainable development through trade in the Arab region.

    One of the flagship initiatives under AfTIAS 2.0 is the Jordan Export Launchpad, which aims to equip Jordanian SMEs with the skills and resources to access international markets. In partnership with the Trade Facilitation Office (TFO) Canada and the Jordan Enterprise Development Corporation (JEDCO), the 13-month program offered specialized training to help export-ready businesses succeed globally. The initiative reflects AfTIAS 2.0’s commitment to fostering economic growth and creating jobs across the Arab region by enhancing the export potential of local enterprises.

    The program concluded with a graduation ceremony on October 28th, where 27 trainers received certifications. The event featured key figures, including JEDCO’s CEO, a representative from the Canadian Embassy, and TFO Canada’s Executive Director, who participated virtually.

    Another successful project under AfTIAS 2.0 is the initiative by the Arab Academy for Science, Technology, and Maritime Transport. This project established a comprehensive mechanism and database to support the shipbuilding and repair industry in Arab countries, marking a major achievement in regional collaboration. It underscores the program’s strategic focus on developing key industries to drive economic integration across the Arab world.

    Also, under AfTIAS 2.0, is Egypt’s Training is a STEP towards Exports (STEP) Project. The STEP project is a comprehensive program designed to equip Egyptian youth and SMEs with the necessary skills to successfully navigate the global export market. By providing targeted training in agricultural production and manufacturing, the program aims to enhance the competitiveness of the country’s exports and create new opportunities for economic growth. Through the program, participants will receive valuable guidance on accessing loans and funding to support their export endeavors.

    In Algeria, the AfTIAS 2.0 program is working to strengthen the agri-food and beverage sector through a project focused on improving the business environment for SMEs and enhancing institutional support. This 16-month initiative, launched in collaboration with the Ministry of Trade, ALGEX, and the International Trade Centre (ITC), seeks to bolster Algeria’s export competitiveness and contribute to the country’s achievement of the Sustainable Development Goals (SDGs).

    “Through AfTIAS 2.0, we are dedicated to enhancing the trade capabilities of SMEs in the Arab region, thus driving economic growth and promoting sustainable development,” explained Eng. Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC). “This program exemplifies our commitment to reducing economic disparities and fostering regional market integration.”

    AfTIAS 2.0 continues to support a wide range of projects across the region, strengthening competitiveness, eliminating trade barriers, and fostering economic resilience. The program works in close partnership with key institutions, including the League of Arab States (LAS) and the United Nations Development Program (UNDP), to ensure that capacity building, infrastructure development, and institutional strengthening remain central to its goals.

    By fostering intra-regional trade and reducing reliance on imports, AfTIAS 2.0 addresses economic inequalities and promotes sustainable growth across the Arab world.

    MIL OSI Africa –

  • MIL-OSI Global: Lessons from Ireland: How the country’s electoral system would strengthen Canadian democracy

    Source: The Conversation – Canada – By Seána Glennon, Postdoctoral Fellow, Constitutional Law, L’Université d’Ottawa/University of Ottawa

    Justin Trudeau’s biggest regret, he said at his resignation news conference, is failing to achieve electoral reform in Canada — even though he’d promised to do so, and had the opportunity during his first majority government, and didn’t go through with it.

    But as a federal election looms this year, it’s a good time to take a closer look at Canada’s first-past-the-post electoral system, examine why it’s seen by many as unfair and to think about how an alternative system, like Ireland’s proportional representation model, could better serve Canadians.

    Canada has what’s known as a single-member plurality electoral system, commonly referred to as first-past-the-post. The country is divided into electoral districts called ridings, each of which has one representative.

    The winning candidate in each riding is the one who receives the most votes, although not necessarily the majority of votes. The system is “winner-takes-all” because only those candidates who come first in each riding gain a seat in Parliament.



    Read more:
    Canada’s first-past-the-post electoral system highlights once again the need for reform

    Proportional represention

    Ireland has a proportional representation system that’s very different from first-past-the-post. Each voter has a single transferable vote, and each constituency elects several candidates. Voters can rank all the candidates on the ballot in order of their preference.

    To be successful, a candidate must reach the constituency’s quota, which is calculated based on the total number of votes and the number of seats. When a candidate reaches or exceeds the quota on the first count, they are elected, and their surplus votes are distributed among the other candidates, based on voters’ second or lower preferences.

    If nobody reaches the quota on the first count, as often happens, the candidate with the lowest number of votes is eliminated and their votes are distributed among the other candidates. The process continues until all seats are filled.

    Risks to Canadian democracy

    Canada’s system poses two major challenges to democracy.

    The first is voter disengagement. Under the first-past-the-post system, a candidate does not need to win more than 50 per cent of the votes; they just need to win more than their opponents. All the votes cast in favour of other candidates are discounted.

    This can result in a significant disparity between a party’s share of votes and its share of seats in Parliament.

    A party with less than 50 per cent of the vote share can form a majority government and dominate the parliamentary agenda until the next election.

    This happened in the United Kingdom’s 2024 election (also a first-past-the-post system) — Labour received only 34 per cent of the popular vote, but took 63 per cent of the seats in British Parliament and formed a majority government. The 2019 election in Canada also illustrates the distortion produced by this system — the Conservatives won the popular vote, but the Liberals took 36 more seats and won a minority government.

    From the voter’s point of view, it’s easy to see how the system causes disillusionment. If they vote for anyone other than the winning candidate, they may feel their vote is discounted and will have no bearing on the makeup of Parliament, and wonder what’s the point of casting a ballot.

    The second challenge exacerbated by the first-past-the-post system is increasing polarization in politics. In a winner-takes-all system, there is no incentive for candidates to try to appeal to voters to become their second or third choice. This leads to a much more adversarial style of politics.

    Malaise, polarization reduced

    The Irish system mitigates against both democratic malaise and political polarization.

    Under proportional representation, the voter’s first preference is always counted. But in contrast to the Canadian system, even if their first-choice candidate is eliminated — or elected on the first count with a surplus — their vote is not wasted. Instead, it’s transferred to their next choice of candidate.

    These transfers often determine the outcome of the election. Elections in Ireland tend to produce parliaments that correlate much more closely to the proportion of votes a party has received than under first-past-the-post systems in Canada and the U.K.

    In addition, the Irish system helps combat polarization, because candidates’ success or failure often hinges on their ability to attract transfers from supporters of other parties. Centrist candidates will be more likely to appeal to a broader base of voters and attract more transfers than candidates that seek to motivate a base of voters with extremist rhetoric.

    The recent Irish general election shows how this system helps avoid excessive polarization. Research has found that countries with proportional representation systems tend to have lower levels of polarization.

    Local focus?

    It’s sometimes argued that proportional representation encourages parliamentarians to focus on issues in their constituency rather than national issues.

    The system greatly facilitates the election of independent candidates. The incoming Irish government, for example, will consist of a coalition of the two main centrist parties, Fianna Fáil and Fine Gael, with the support of a group of independents, some of whom make no secret that their priority is their own constituency.

    It can be argued, however, that responsiveness to local issues isn’t a negative — and it’s not prevented Ireland from playing an outsize role on the international stage in recent years.



    Read more:
    Irish election: why one single party is unlikely to win – and what it means for the next government

    Confronting Trump

    Supporters of first-past-the-post argue that it produces stronger, more stable majority governments.

    Even though Ireland’s party system has undoubtedly become more fragmented over the past decade, however, coalition governments have proved capable of staying the course.

    Of course, Irish politics has its share of challenges. The recent election of Micheál Martin as Taoiseach (prime minister) was delayed a day after rancorous exchanges in Irish Parliament around opposition speaking time, and the country still has a stubbornly low proportion of female parliamentarians (only three women were appointed to the new cabinet as senior ministers, out of 15).

    But this doesn’t change the fact that a proportional representation system still produces a parliament more reflective of voter’s choices than first-past-the-post.

    Politically disengaged and polarized voters in Canada and an unrepresentative Parliament won’t help the country respond to the challenges posed by the next four years of a second Donald Trump presidency.

    A new system with an element of proportionality could help curb polarization, ensure fairer representation for Canadians and transform Canadian democracy for the better.

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

    – ref. Lessons from Ireland: How the country’s electoral system would strengthen Canadian democracy – https://theconversation.com/lessons-from-ireland-how-the-countrys-electoral-system-would-strengthen-canadian-democracy-247541

    MIL OSI – Global Reports –

  • MIL-OSI Global: Global wildlife trade is an enormous market – a look at the billions of animals the US imports from nearly 30,000 species

    Source: The Conversation – USA – By Michael Tlusty, Professor of Sustainability and Food Solutions, UMass Boston

    U.S. Fish and Wildlife agents inspect a shipment of reptiles at the Port of Miami. U.S. GAO

    When people think of wildlife trade, they often picture smugglers sneaking in rare and endangered species from far-off countries. Yet most wildlife trade is actually legal, and the United States is one of the world’s biggest wildlife importers.

    New research that we and a team of colleagues published in the Proceedings of the National Academy of Sciences shows that, over the last 22 years, people in the U.S. legally imported nearly 2.85 billion individual animals representing almost 30,000 species.

    Some of these wild animals become pets, such as reptiles, spiders, clownfish, chimpanzees and even tigers. Thousands end up in zoos and aquariums, where many species on display come directly from the wild.

    Medical research uses macaque monkeys and imports up to 39,000 of them every year. The fashion trade imports around 1 million to 2 million crocodile skins every year. Hunting trophies are also included in wildlife.

    How many species are legally traded worldwide?
    Benjamin Marshall, et al., 2024, PNAS, CC BY-SA

    The largest number of imported species are birds – 4,985 different species are imported each year, led by Muscovy ducks, with over 6 million imported. Reptiles are next, with 3,048 species, led by iguanas and royal pythons. These largely become pets.

    Not all wildlife are wild

    We found that just over half of the animals imported into the U.S. come from the wild.

    Capturing wildlife to sell to exporters can be an important income source for rural communities around the world, especially in Africa. However, wild imported species can also spread diseases or parasites or become invasive. In fact, these risks are so worrying that many imported animals are classed as “injurious wildlife” due to their potential role in transmitting diseases to native species.

    Captive breeding has played an increasingly dominant role in recent years as a way to limit the impact on wild populations and to try to reduce disease spread.

    However over half the individual animals from most groups of species, such as amphibians or mammals, still come from the wild, and there is no data on the impact of the wildlife trade on most wild populations.

    Trade may pose a particular risk when species are already rare or have small ranges. Where studies have been done, the wild populations of traded species decreased by an average of 62% across the periods monitored.

    Sustainable wildlife trade is possible, but it relies on careful monitoring to balance wild harvest and captive breeding.

    Data is thin in many ways

    For most species in the wildlife trade, there is still a lot that remains unknown, including even the number of species traded.

    With so many species and shipments, wildlife inspectors are overwhelmed. Trade data may not include the full species name for groups like butterflies or fish. The values in many customs databases are reported by companies but never verified.

    Macaques, used in medical research, are the most-traded primates globally, according to an analysis of U.S. Fish and Wildlife data.
    Davidvraju, CC BY-SA

    In our study, we relied on the U.S. Fish and Wildlife Service’s Law Enforcement Management Information System, a wildlife import-export data collection system. However, few countries collate and release data in such a standardized way; meaning that for the majority of species legally traded around the world there is no available data.

    For example, millions of Tokay geckos are imported as pets and for medicine, and are often reported to be bred in captivity. However, investigators cannot confirm that they weren’t actually caught in the wild.

    Why tracking the wildlife trade is important

    Biodiversity has a great number of economic and ecological benefits. There are also risks to importing wildlife. Understanding the many species and number of animals entering the country, and whether they were once wild or farmed, is important, because imported wildlife can cause health and ecological problems.

    Wildlife can spread diseases to humans and to other animals. Wild-caught monkeys imported for medical research may carry diseases, including ones of particular risk to humans. Those with diseases are more likely to be wild than captive-bred.

    The most-traded mammals worldwide are minks, which are valued for their fur but can spread viruses to humans and other species. About 48 million minks are legally traded annually, about 2.8% wild-caught and the majority raised, according to U.S. Fish and Wildlife data.
    Colin Canterbury/USFWS

    Species that aren’t native to the U.S. may also escape or be released into the wild. Invasive species can cause billions of dollars in damage by consuming and outcompeting native wildlife and spreading diseases.

    We believe better data on the wildlife trade could be used to set management goals, such as harvest quotas or no-take policies for those species in their country of origin.

    What’s next

    The researchers involved in this study come from institutes around the world and are all interested in improving data systems for wildlife trade.

    Some of us focus on how e-commerce platforms such as Etsy and Instagram have become hotspots of wildlife trade and can be challenging to monitor without automation. Esty announced in 2024 that it would remove listings of endangered or threatened species. Others build tools to help wildlife inspectors process the large number of shipments in real time. Many of us examine the problems imported species cause when they become invasive.

    In the age of machine learning, artificial intelligence and big data, it’s possible to better understand the wildlife trade. Consumers can help by buying less, and making informed decisions.

    Michael Tlusty is a founding member of the Wildlife Detection Partnership and co-developed the Nature Intelligence System, which assists governments in collecting more accurate wildlife data..

    Andrew Rhyne is currently on sabbatical funded by the Canada Border Services Agency (CBSA), focused on the wildlife trade data. He is a founding member of the Wildlife Detection Partnership and co-developed the Nature Intelligence System, which assists governments in collecting more accurate wildlife data.

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

    – ref. Global wildlife trade is an enormous market – a look at the billions of animals the US imports from nearly 30,000 species – https://theconversation.com/global-wildlife-trade-is-an-enormous-market-a-look-at-the-billions-of-animals-the-us-imports-from-nearly-30-000-species-247197

    MIL OSI – Global Reports –

  • MIL-OSI USA: Baldwin Votes to Confirm Former Rep. Sean Duffy as Transportation Secretary

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin
    Published: 01.28.2025

    WASHINGTON, D.C. – U.S. Senator Tammy Baldwin (D-WI) released a statement on her vote to confirm former Rep. Sean Duffy as Secretary of the Department of Transportation (DOT).
    “Today, I voted to confirm former Rep. Sean Duffy as Secretary of Transportation because together, we can do right by Wisconsin families, businesses, and workers. As I’ve said before, it is critical that we have a Secretary of Transportation who understands Wisconsin’s transportation needs, and I have confidence, Sean is that guy. I have long fought to ensure our infrastructure is built with American products by American workers – and I will continue to press Sean to ensure that work continues. I am confident that we can work together to make sure Wisconsin families have safe roads and bridges and our businesses can get their products on shelves on time. Let’s get to work.”
    Senator Baldwin spoke on the Senate floor in support of former Rep. Sean Duffy and also introduced him at the Senate Committee on Commerce, Science, and Transportation hearing. During the hearing, Senator Baldwin also pressed former Rep. Sean Duffy on the incoming Trump Administration’s commitment to keeping in place her long-championed Buy America rules, which ensure taxpayer dollars spent on infrastructure are supporting American businesses and jobs.

    MIL OSI USA News –

  • MIL-OSI United Nations: With Israeli Laws Set to Take Effect in 48 Hours, UN Palestine Refugee Agency Chief Warns Security Council of Risks to Gaza Ceasefire, Recovery Efforts

    Source: United Nations General Assembly and Security Council

    While Many Speakers Support Agency as Lifeline, Israel’s Delegate Says It Failed

    The implementation of Israel’s legislation on 30 January — curtailing the operations of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) — will undermine the ceasefire and sabotage Gaza’s recovery and political transition, a senior UN official told the Security Council today.

    Expressing hope that the long-awaited ceasefire — which began nine days ago — “will hold and then the tremendous suffering in Gaza will subside”, Philippe Lazzarini, Commissioner-General of the United Nations Relief and Works Agency for Palestine Refugees in the Near East, welcomed the return of Israeli hostages and imprisoned Palestinians to their families. He also recognized the marked improvement in the flow of humanitarian aid and operating conditions.  As the largest UN presence in Gaza — with 13,000 personnel and 300 premises — the Agency is critical in supporting a shattered population under a ceasefire, he emphasized.

    Yet, in two days, “our operations in the Occupied Palestinian Territory will be crippled as legislation passed by Israel takes effect”, he warned, adding that the fate of millions of Palestinians is at stake. “In the wake of the ceasefire, we must contend with the devastation of the last 15 months and the enormity of the challenges ahead,” he said, pointing to a peer-reviewed study of death by traumatic injury in Gaza, which reveals that the mortality figure provided by the Ministry of Health is “a minimum estimate”.  In fact, 46,000 deaths is likely an undercount by over 40 per cent, with the majority of those killed being women, children and the elderly.  The study also confirms that those who escaped death by bombardment, starvation and disease have emerged shell-shocked.

    Tens of thousands of people are now returning to the decimated north “to search for the living and to bury the dead”, he said, noting UNRWA’s unique mandate to provide public-like services to an entire population. He rejected Israel’s claim that the Agency plays “a negligible role” in providing humanitarian assistance in Gaza and that its services can be transferred to other entities.  UNRWA constitutes half the emergency response, having delivered two thirds of all food assistance, provided shelter to over a million displaced persons and vaccinated a quarter of a million children against polio since October 2023.  Less quantifiable, but critical for the humanitarian response and the ceasefire, is community acceptance:  “Palestinians know and trust UNRWA,” he stressed.

    Furthermore, Israel’s Government is investing significant resources to portray the Agency as a terrorist organization and its staff as terrorists or terrorist sympathizers.  Billboards and ads accusing UNRWA of terrorism recently appeared in major cities worldwide.  The political attacks on the Agency are motivated by the desire to strip Palestinians of their refugee status and erase their history and identity.  Underscoring the need to allow the Agency to progressively conclude its mandate within the framework of a political process, he stated: “We are determined to stay and deliver until it is no longer possible to do so.”

    Jan Egeland, Secretary-General of the Norwegian Refugee Council, recalled his visit to Gaza City in December 2024 and expressed shock at the destruction: clearing over 50 million tons of rubble in the aftermath of Israel’s bombardment “could take 21 years and cost up to $1.2 billion”.  For two decades, children will have nowhere to play in the rubble and debris caused by this war, having to fear unexploded bombs. “The principles of proportionality, distinction and military necessity have been thoroughly violated,” he stated. 

    While his organization managed to have 18 trucks of humanitarian cargo enter Gaza last week, looting and attacks on aid convoys remain a major concern.  He recalled that, on 12 September 2024, the Israeli National Security Council admitted to the Knesset that Israel was no longer issuing visas to employees of international non-governmental organizations — apparently part of a broader effort to undermine humanitarian work in the Occupied Palestinian Territory. However, as the occupying Power, Israel is legally obliged to facilitate humanitarian operations — in Gaza and in the West Bank alike.

    Addressing the urgent humanitarian need, he called for full unrestricted access to northern Gaza, including the immediate opening of the Netzarim Corridor to facilitate the movement of civilians, humanitarian personnel and life-saving supplies.  He further voiced alarm over intensified Israeli military operations and settler attacks across the occupied West Bank, urging the Council to “put all of our energies into achieving a peaceful resolution to the question of Palestine”. 

    …

    MIL OSI United Nations News –

  • MIL-OSI Security: Mobile Man Sentenced To 37 Months For Illegally Possessing A Firearm

    Source: Office of United States Attorneys

    MOBILE, AL – Umar Abdul Waheed also known as Terry Evans, a Mobile man, has been sentenced to 37 months in federal prison for possessing a firearm as a previously convicted felon.  The sentence was imposed by United States Chief District Judge Jeffrey U. Beaverstock.

    According to court documents, in June 2024, Waheed reported to the Mobile County Community Corrections office in Mobile, Alabama. At the time he reported, Waheed had outstanding state warrants related to threats he made with a firearm to coworkers at a local construction company’s jobsite a few days prior. After Waheed was taken into custody on the outstanding warrants, officers located a firearm in the vehicle Waheed drove to Community Corrections. Waheed is a convicted felon and is prohibited from possessing a firearm.

    At sentencing, Judge Beaverstock imposed a 37-month sentence of incarceration and a 3-year term of supervised release upon Waheed’s discharge from prison.

    The Federal Bureau of Investigation investigated the case. Assistant United States Attorney Beth Stepan prosecuted the case on behalf of the United States.  

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.
     

    MIL Security OSI –

  • MIL-OSI Canada: The Canada-Poland Nuclear Energy Cooperation Agreement

    Source: Government of Canada – Prime Minister

    Canada and Poland’s relationship is steadfast, from our mutual commitment to transatlantic and energy security to our common pursuit of a more sustainable planet. Together, we stand united and determined to create a safer and more prosperous world today – and for generations to come.

    Today, the Prime Minister, Justin Trudeau, concluded his trip to Warsaw, Poland, where he signed the landmark Canada-Poland Nuclear Cooperation Agreement alongside the Prime Minister of Poland, Donald Tusk.

    Once in force, the Agreement will deepen ties between Canadian and Polish energy sectors, enabling Canadian companies to apply their nuclear expertise to support Poland’s energy transition and enhance energy security for Poland and the region. It will create good well-paying jobs and opportunities for people on both sides of the Atlantic, while reinforcing Canada and Poland’s shared commitment to nuclear co-operation, non-proliferation, safety, and security. This collaboration will help Poland enhance its clean energy sector and accelerate its efforts to phase out coal from its energy mix.

    This Agreement complements other initiatives to strengthen Canada and Poland’s bilateral relationship, including the General Security of Information Agreement (GSOIA), which was signed earlier this month. Once implemented, the GSOIA will enhance information sharing between Canada and Poland and create business opportunities for companies in industries such as defence, security, aerospace, marine, and nuclear.

    Prime Minister Trudeau also held bilateral meetings with his Polish counterparts, including Prime Minister Tusk, the President of Poland, Andrzej Duda, and the Mayor of Warsaw, Rafał Trzaskowski. As the world marks 80 years since the liberation of the Auschwitz Birkenau German Nazi Concentration and Extermination Camp, they agreed on the importance of combatting antisemitism and hate across the globe.

    The leaders also reaffirmed their commitment to transatlantic security and underlined the importance of providing military, financial, humanitarian, and other support for Ukraine as it continues to defend itself against Russia’s unjustifiable war of aggression. Prime Minister Trudeau emphasized that supporting Ukraine will continue to be a priority for Canada, particularly in the context of its 2025 G7 Presidency.

    Prime Minister Trudeau reiterated his thanks to the people of Poland for their hospitality during his two-day visit to the country and reaffirmed Canada’s desire to continue deepening ties with Poland in the years to come.

    Quote

    “By working together to advance nuclear technology, Canada and Poland are pushing innovation forward and accelerating energy security. Once in force, the newly signed Canada-Poland Nuclear Cooperation Agreement will promote Canadian innovators, create good-paying jobs, and combine Polish and Canadian expertise in the sector. It’s a testament to Canada’s commitment to building a more secure future, alongside our closest Allies.”

    Quick Facts

    • In 2023, the Canadian Nuclear Safety Commission and the National Atomic Energy Agency of Poland signed a Memorandum of Understanding on small modular reactors (SMR), paving the way for increased exchanges on best practices and technical reviews related to SMR technology.
    • Poland does not yet generate nuclear power commercially, but it has comprehensive plans to use both large-scale and SMR nuclear technology.
    • Canada expects to be the first G7 country to have the first operational SMR, the GE-Hitachi BWRX-300, by 2029. It is under active development by Ontario Power Generation at its Darlington Nuclear Station, and Poland is watching developments at Darlington closely, as it plans to deploy the same SMR technology shortly thereafter.
    • In 2023, on the margins of the 28th meeting of the United Nations Climate Change Conference of the Parties in Dubai, United Arab Emirates, Canada, Poland, and over twenty other nations endorsed a statement calling for the tripling of nuclear energy capacity by 2050.
    • Yesterday in Kraków, Poland, the Prime Minister announced $3.4 million in new funding to combat antisemitism, preserve Holocaust remembrance, and educate against Holocaust denial and distortion in Canada and around the world.
    • Canada and Poland enjoy a close-knit and multifaceted defence partnership. Canada takes pride in being the first NATO country to have ratified Poland’s membership, in 1998. Polish troops are deployed to the Canada-led NATO Multinational Brigade in Latvia.
    • Poland is Canada’s largest trading partner in Central and Eastern Europe. In 2023, bilateral merchandise trade between the two countries totalled $4.1 billion.
    • The warm ties between our peoples serve as the foundation of our countries’ strong bilateral relationship. Close to one million Canadians of Polish descent call Canada home.

    Associated Links

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