Category: Business

MIL-OSI Economics: Media Release: Australia wins bid to host 2026 global carbon capture conference – Australian Energy Producers

Source: Australian Petroleum Production & Exploration Association

Headline: Media Release: Australia wins bid to host 2026 global carbon capture conference – Australian Energy Producers

The Australian oil and gas sector’s leadership in carbon capture, utilisation and storage (CCUS) – a key emissions reductions technology – is set to be showcased on the world stage.

Australian Energy Producers is pleased to announce it will co-host the world’s leading CCUS conference in Perth in 2026, in partnership with the CSIRO, CO2CRC and the Department of Climate Change, Energy, the Environment and Water.

The Greenhouse Gas Control Technologies (GHGT) Conference, run by the IEA Greenhouse Gas R&D Programme, brings together over 1,000 CCUS researchers, industry leaders, government officials, and stakeholders from around the world to discuss and share the latest developments with the technology.

Australian Energy Producers Chief Executive Samantha McCulloch said Australia’s selection to host GHGT-18 reinforced its standing as a global leader in CCUS research, development and deployment.

“Australia has two of the largest carbon capture and storage (CCS) projects operating globally – Chevron’s Gorgon Project and the Santos and Beach Energy joint venture Moomba Project,” she said.

“These projects are today storing emissions equivalent to taking one million cars off the road each year.

“CCUS is a key technology in efforts to reach net zero in Australia and the region.

“The International Energy Agency, Intergovernmental Panel on Climate Change, and CSIRO have all found that there is no pathway to net zero without CCUS.”

The 2026 event will be the third time Australia has hosted the global conference, having hosted it in Cairns in 2000 and Melbourne in 2018.

The announcement last week in Canada during the closing session of GHGT-17 coincided with a major CCUS milestone for Australia, with the Moomba CCS Project achieving first injection and full ramp up.

“Australia has a comparative advantage in CCUS, with world class geology, industry experience, and strong links with regional trading partners looking to collaborate on CCUS,” Ms McCulloch said.

“Scaling up CCUS is an opportunity to not just reduce emissions but also create new jobs and attract new investment.”

Australia’s hosting of the conference is supported by Business Events Perth, reflecting the opportunity for GHGT-18 to amplify Western Australia’s global standing as a premier destination for impactful global events.

Contact: 0401 839 227

MIL OSI Economics –

January 25, 2025
MIL-Evening Report: Forum troika’s visit highlights value of regionalism for New Caledonia

ANALYSIS: By Patrick Decloitre, RNZ Pacific correspondent French Pacific desk

As a three-day fact-finding mission from a group of Pacific leaders drew to a close in New Caledonia, and with the outcomes report not expected before next year, the visit to the riot-hit French Pacific territory seems to have triggered a new sense of awareness locally about the values of Pacific regional mechanisms of “talanoa” embodied by the Pacific Islands Forum (PIF).

Local President Louis Mapou stressed on several occasions during the visit that New Caledonia’s situation was the “subject of much attention” in the Pacific region.

He suggested that one of the reasons for this could be because of a potential “spillover” effect that could “jeopardise cohesion in the Pacific”.

However, Mapou also stressed that he had received the message conveyed by the PIF “Troika-Plus” group that “they’re ready to take part in [New Caledonia’s] reconstruction”.

‘New Caledonia’s regional integration in its region’
Mapou said that one of the recurrent themes during the PIF visit was “New Caledonia’s regional integration in its region”.

“Whatever might be said, in many ways, New Caledonia does not know its [Pacific] region very well. Because it has this affiliation relationship to Europe and France that has prevailed over all these years,” he told local media.

“So, in a certain way, we’re just discovering our region. And in this process, the Pacific Islands Forum could bring a sort of leverage,” he said.

Kanaky New Caledonia, as well as French Polynesia — both French Pacific entities — became full members of the Pacific Islands Forum in 2016, after several years of “associate members” status.

Mapou said New Caledonia’s current status vis-à-vis France was mentioned during talks with the PIF mission.

“I spoke with them about obstacles that should be removed, that are directly related to our current status. This is part of topics on which we should be working in future,” he said.

“They’re very open-minded, they don’t have any preconceived ideas, they’re happy to talk equally about the concepts of independence, just as they are for keeping [New Caledonia] within the French Republic,” he revealed.

One of the unexpected outcomes, beyond the specific fact-finding mission that brought this PIF “Troika-Plus” leaders’ delegation to New Caledonia, seems to have underlined the values of regionalism, as well as New Caledonia’s long-awaited and genuine integration in its “regional environment”.

These values seem to have been recognised by all sides of New Caledonia’s political spectrum, as well as all walks of life within the civil, economic, educational and religious society.

PIF’s “Troika-Plus” leaders meet with Southern Province President Sonia Backès (third from left) at SPC headquarters last Monday. Image: PIF/RNZ Pacific

Pacific diversity in status
During the past few days, informal exchanges with the Pacific leaders have also allowed New Caledonia’s authorities to share and compare possible ways forward regarding the territory’s political status.

“They readily exchanged their own experiences with our government. The Cook Islands, which is a self-governing state in ‘free association’ with New Zealand; Tonga, which has never been colonised; and the Solomon Islands, who have also undergone inter-ethnic conflicts and where the young population was also involved. And Fiji, which obtained independence (in 1970), had decided to withdraw from the Commonwealth and is finally re-discussing its link with Great Britain,” Mapou briefed local media on Tuesday.

The leaders spent three days (October 27-29) in the French Pacific territory to gather information on the ground, after destructive riots broke out in May, resulting in 13 deaths and extensive economic damage estimated at €2.2 billion.

During the three days, the PIF leaders met a wide range of political, business, religious, and civil society leaders to get a first-hand account of the situation.

On Tuesday, the “plus” component of the troika, Fiji Prime Minister Sitiveni Rabuka, reiterated the mission’s assigned mantra in a manner of conclusion to their mission.

“We were here to understand and make recommendations. We have heard many extremely different attitudes. We hope it will be possible to find a solution for the people and the government,” Rabuka told religious leaders.

Bitterness from civil society
The long series of talks, within a particularly tight schedule, also allowed groups within New Caledonia’s civil society — including traditional chiefs, youth, human rights activists, educationists, mayors and women — to express their views directly during the Pacific leaders’ visit.

Some of these groups also took the opportunity to point out that they were not always listened to in other circumstances.

“Today, peace has just been through a rough episode. And we, women, are being asked to help. But when was the last time we were heard?

“We’ve already said women should be part of all levels of decision-making, including on matters of dealing with violence and access for women to economic empowerment.

“We were ignored. And then, when fire breaks out, we’re being asked for help because this is the foundation of Pacific values,” said Sonia Tonga, the president of the Oceania Union of Francophone Women, which groups women’s groups from New Caledonia, French Polynesia, Wallis-and-Futuna and Vanuatu.

Talking about the youth, she said there was an “ill-being”, “they don’t recognise themselves in this system, including for education. We’re trying to fit an Oceanian society into a framework that has not been designed for them.

“When will we be heard in our country?”.

As part of talks with church leaders, it was also pointed out that there were benefits from sharing experiences with Pacific leaders.

“I’ve been many times in Fiji, Tonga, the Solomon Islands, Vanuatu and other Pacific islands. They too have had their hard times.

“And they too are familiar with the experience of violence which is difficult to bring back to a path of dialogue,” said 80-year-old Nouméa Catholic Archbishop Michel-Marie Calvet, a respected figure.

In terms of earlier crises in the Pacific region, among PIF member island states, in the early 2000s, civil unrest occurred in both Fiji and the Solomon Islands, with shops being targeted and looted.

Under Pacific Islands Forum mechanisms, especially the declaration of Biketawa, this prompted in 2003 the setting up of “RAMSI” (Regional Assistance Mission to Solomon Islands), with mostly Australia and New Zealand military and police as its main contributors, with additional input from other Pacific island countries.

In Fiji, the mission to defuse the crisis, associated with an attempted coup and a MPs hostage situation within Parliament buildings in May 2000, was mainly achieved by the Republic of Fiji Military Forces (RFMF) through protracted negotiations and without violence.

Forum “Troika-Plus” leaders in New Caledonia conducting a fact-finding mission to assess the situation on ground. Image: X /@ForumSEC/RNZ Pacific

Supporting Pacific dialogue
In the political sphere, there was a recognition of the benefits of a Pacific perspective.

“There is a Pacific tradition of dialogue and talanoa. So, I think [the PIF leaders] can invite pro-independence parties to come to the [negotiating] table,” said New Caledonia’s Mayors’ Association president Pascal Vittori.

“We’re actually expecting PIF will back this notion of dialogue — that’s what’s important now,” he told local media.

Sonia Backès, one of the staunchest defenders of New Caledonia remaining part of France, told reporters on Monday: “We didn’t ask for this [mission]. Now we’re waiting for this (troika) report based on their observing mission.

“We all know that there are biased views on the part of some, one way or the other.

“So we hope the final report will be as fair and neutral as possible so as not to add fuel to the fire.”

Following their visit to New Caledonia and based on the information gathered, the Forum “Troika-Plus” leaders are expected to compile a “comprehensive report” to be submitted to the next annual Forum Leaders’ Summit in the Solomon Islands in 2025.

“The terms of reference of this mission were discussed beforehand between the government of New Caledonia, the Pacific Islands Forum and the (French) State. We all agreed that what was most important was to have an assessment of the situation.

“There is a need to provide information to the public so that it is an informed opinion leader. It’s important in those times of misinformation and manipulation from one side or the other,” French ambassador for the Pacific Véronique Roger-Lacan told public broadcaster NC la 1ère TV on Tuesday evening.

Rioting damage in Nouméa’s Ducos industrial zone. Image: LNC TV/RNZ Pacific

Business sector now needs Pacific market overtures
Even the business sector now seems to believe that, as a result of the widespread destruction caused by the riots, which has left more than 800 companies burnt down and looted, as well as thousands jobless, the wider Pacific region has now become a new potentially attractive market.

“Our local market has just shrunk considerably and so we will need to find new openings for our products. In that perspective, our cooperation with the Pacific is very, very strategic”, said business leaders association MEDEF-NC president Mimsy Daly.

She had once again presented a detailed view of the widespread devastation caused by the recent riots and those who took part.

“‘Were they aware of what they were doing?’ is one of the questions I was asked,” she wrote on social networks after her encounter with the “Troika-Plus”.

“A logical question when you know that what has been destroyed equals about 70 percent of the GDP of the Cook Islands, 100 percent of the GDP of the Solomon Islands and 40 percent of the GDP of Fiji.”

But she admitted the response to this complex question was “primordial” and “every light will have to be shed on the matter”.

In a wrap-up of the three days, President Mapou held a final meeting with the group on Tuesday.

Wide circle of ‘concertation’ needed
French High Commissioner Louis Le Franc, after a final meeting with the delegation, said: “They have come here to seek the profound causes of what happened on May 13. They have been listening very closely.

“I understand their view is that a wide circle of concertation [cooperation] will be required to reach an agreement,” he said.

He elaborated, saying that the Pacific Forum leaders seemed to place a lot of hope in the notions of “trust”, the “necessity of living together” and the PIF’s “will to help, while saying that, at the same time, the solution lies in the hands of New Caledonia”.

French President Macron (right) with New Caledonia’s President Louis Mapou (left) and former New Caledonia Congress President Roch Wamytan (centre) earlier this year. Image: RNZ Pacific

Next: another ‘concertation and dialogue’ mission
Following the PIF “Troika-Plus” mission, another visit is expected in New Caledonia in the next few days — this time coming from Paris.

This new high-level visit will be headed by the presidents of both houses of Parliament in France (Senate and National Assembly), respectively Gérard Larcher and Yaël Braun-Pivet, from November 9-14.

They will lead what is described as a “mission of concertation and dialogue”.

The dates come as a top-level meeting took place last week, presided by French Head of State Emmanuel Macron and attended by French minister for Overseas François-Noël Buffet (who had just returned from New Caledonia), French PM Barnier, Larcher and Braun-Pivet.

The objective, once again, was to reinforce the signal that the time had come to resume political dialogue.

Macron indicated earlier that he still intended to host a meeting in Paris sometime in November.

Buffet was also in New Caledonia earlier this month for four days to assess the situation and try to restore a path to dialogue between all political stakeholders, both pro-independence and pro-France.

This article is republished under a community partnership agreement with RNZ.

MIL OSI Analysis – EveningReport.nz –

January 25, 2025
MIL-Evening Report: Individual action on climate was tarred as greenwashing or virtue signalling. But it still has a place

Source: The Conversation (Au and NZ) – By Sukhbir Sandhu, Associate Professor in Sustainability, University of South Australia

j.chizhe/Shutterstock

Two decades ago, the fight against climate change was often framed as a personal choice. You might try to reduce your carbon footprint by avoiding flights or change your buying habits to avoid meat or reduce plastic.

But this approach lost popularity, as it shifted responsibility from producer to consumer. The carbon footprint, for instance, was famously popularised by oil company BP. In 2008, well-known American climate activist Bill McKibben pointed out the impotence of individual action without collective action.

Behavioural researchers also began finding a seeming paradox – many of us expressed strong interest in taking individual action on climate, but our actual behaviours barely changed.

Much focus shifted to top-down efforts such as government incentives for clean energy and commitments at a national level to cut emissions.

But there is still a role for individuals – especially around demonstrating what clean alternatives actually look like. For instance, the more solar panels are installed on rooftops in your neighbourhood, the more likely you are to consider it. This neighbourhood effect also affects uptake of electric vehicles and e-bikes. This is especially important if we are to see clean alternatives go mainstream rather than stop at a small fraction of the population.

Of course, individual actions can only go so far. As our research on sustainable consumption has shown, individual actions can be magnified with a backdrop of institutional support.

The neighbourhood effect has influence on solar and electric vehicle uptake.
zstock/Shutterstock

What we say and what we do

Humans are complicated. We often say we want to make greener choices – but in reality, we act differently.

Individual climate action sounds great in theory. If many of us chose electric vehicles or bikes, installed solar panels and built energy efficient houses, our actions in aggregate could contribute to wider emissions goals. Then there are choices such as reducing dairy and meat, installing LED lights and buying produce with less packaging.

Everyday actions can contribute too, such as washing clothes in cold water, avoiding putting aircon too low or heating too high, and wearing extra layers of clothes. Recycling, repairing and reusing offer us still more methods to extend the life of our products, reduce waste and save money.

Yet it turns out the reality of individual action on climate is much more complicated – because we are complicated.

When surveyed, a majority of us say we want green, sustainable products. But when we go to the shops, we often don’t actually buy them. My colleagues and I have dubbed this the “Janus faced” consumer phenomenon – we often say one thing but do another.

Why might that be? One reason is many consumers believe green products – whether electric cars or detergents – will perform worse. Green products are also perceived to be more expensive and inconvenient to use.

Then there’s the question of virtue signalling. This is a phenomenon where consumers purchase highly visible green products primarily to signal they’re a person who cares about the environment without necessarily doing so.

Some of these challenges are being overcome. It’s hard to write off modern electric cars as inferior when they can accelerate faster and run much cheaper than fossil fuel cars. While early adopters of solar might once have been seen as virtue-signallers, the main reason Australian households go solar is to save money on the power bill, according to a CSIRO survey.

Was buying a Toyota Prius about going green – or signalling your virtue?
Stephen Barnes/Shutterstock

One and the many

Individual action can only go so far. For individual action to create sustained impact, it needs supportive policies and institutional backing.

For instance, a 2023 report found many Australian clean energy organisations would like to re-use solar panels for community projects or as a low-cost option for households. This makes sense, given used solar panels are often 80% as good as new ones.

But for consumers to actually act on this, they need institutional scaffolding. If you’re going to buy used solar, you want to make sure they are in good condition. Without a certification process, their willingness will come to nothing.

While many of us say we would consider buying an electric vehicle, the uptake is constrained by things outside our control such as whether there are enough public chargers in cities and rural areas.

You can see the importance of institutional backing clearly in transport. The Melbourne-Sydney flight path is the fifth busiest in the world. That’s because there are no fast green alternatives. If there was high-speed rail as in China or Japan, many of us would choose to avoid the emissions caused by flying. But it doesn’t exist (yet), so our individual choices are curtailed.

Which way forward?

As climate change intensifies, more and more of us say we are willing to act on our beliefs and concerns on an individual level. Even better, more of us are actually doing what we say we will.

Not everywhere, of course. For many Australians, switching from petrol to electric might be easier than giving up meat or a flight to Japan. But some progress is better than none.

This groundswell is encouraging. But our individual efforts can only go so far. To make the most of it, we need institutional scaffolding. Australia has world-beating rooftop solar uptake because state and federal governments used subsidies and incentives to make the emerging technology cheaper. With incentives on offer, millions of us made individual choices to take it up.

We are more than consumers, of course. Our power as individuals isn’t limited to choosing specific products. As citizens, we can push for our governments to provide the essential scaffolding we need to make greener choices.

Sukhbir Sandhu has received research grants from Australian Research Council (Discovery), Green Industries SA, and the European Union.

– ref. Individual action on climate was tarred as greenwashing or virtue signalling. But it still has a place – https://theconversation.com/individual-action-on-climate-was-tarred-as-greenwashing-or-virtue-signalling-but-it-still-has-a-place-239196

MIL OSI Analysis – EveningReport.nz –

January 25, 2025
MIL-Evening Report: Moderators protect us from the worst of the internet. That comes at huge personal cost

Source: The Conversation (Au and NZ) – By Alexandra Wake, Associate Professor, Journalism, RMIT University

Shutterstock

Unless you’re a moderator for a local community group discussing garbage collections or dog park etiquette, you are unlikely to fully understand the sheer volume and scale of abuse directed at people online.

But when social media moderation and community management is part and parcel of your daily work, the toll on people and their loved ones can be enormous. Journalists, often early in their careers, can be on the receiving end of torrents of abuse.

If they come from culturally or linguistically diverse backgrounds, that reluctance to report can be even higher than other colleagues.

There’s growing employer concern about how moderating confronting content can affect people’s wellbeing. Employers also have a duty to keep their staff safe at work, including online.

The ABC wanted to understand what this looked like in practice. Its internal survey data shows just how bad the problem has become for moderators who are employed to keep audience members safe when contributing to online discussions.

What did the ABC find?

In 2022, the ABC asked 111 staff who were engaged in online moderation as part of their jobs to self-report the frequency of exposure to potentially harmful experiences.

First it was important to understand just how long people were spending online moderating content. For those who had to moderate content every day, 63% they did it for less than an hour and a half, and 88% moderated for less than three hours.

The majority of staff surveyed saw potentially harmful content every week.

71% of moderators reported seeing denigration of their work weekly, with 25% seeing this daily.

Read more:
Can human moderators ever really rein in harmful online content? New research says yes

Half reported seeing misogynistic content weekly, while more than half said they saw racist content weekly.

Around a third reported seeing homophobic content every week.

In the case of abusive language, 20% said they encountered it weekly.

It’s a confronting picture on its own, but many see more than one type of this content at a time. This compounds the situation.

It is important to note the survey did not define specifically what was meant by racist, homophobic or misogynistic content, so that was open to interpretation from the moderators.

A global issue

We’ve known for a few years about the mental health problems faced by moderators in other countries.

Some people employed by Facebook to filter out the most toxic material and have gone on to take the company to court.

In one case in the United States, Facebook reached a settlement with more than 10,000 content moderators that included U$52 million (A$77.8 million) for mental health treatment.

In Kenya, 184 moderators contracted by Facebook are suing the company for poor working conditions, including a lack of mental health support. They’re seeking U$1.6 billion (A$2.3 billion) in compensation.

The case is ongoing and so too are other separate cases against Meta in Kenya.

In Australia, moderators during the height of the COVID pandemic reported how confronting it could be to deal with social media users’ misinformation and threats.

A 2023 report by Australian Community Managers, the peak body for online moderators, found 50% of people surveyed said a key challenge of their job was maintaining good mental health.

What’s being done?

Although it is not without its own issues, the ABC is leading the way in protecting its moderators from harm.

It has long worked to protect its staff from trauma exposure with a variety of programs, including a peer support program for journalists. The program was supported by the Dart Centre for Journalism and Trauma Asia Pacific.

But as the level of abuse directed at staff increased in tone and intensity, the national broadcaster appointed a full-time Social Media Wellbeing Advisor. Nicolle White manages the workplace health and safety risk generated by social media. She’s believed to be the first in the world in such a role.

As part of the survey, the ABC’s moderators were asked about ways they could be better supported.

Turning off comments was unsurprisingly rated as the most helpful technique to promote wellbeing, followed by support from management, peer support, and preparing responses to anticipated audience reactions.

Turning off the comments, however, often leads to complaints from at least some people that their views are being censored. This is despite the fact media publishers are legally liable for comments on their content, following a 2021 High Court decision.

Educating staff about why people comment on news content has been an important part of harm reduction.

Some of the other changes implemented after the survey included encouraging staff not to moderate comments when it related to their own lived experience or identity, unless they feel empowered in doing so.

The peer support program also links staff others with moderation experience.

Managers were urged to ensure that self-care plans were completed by staff to prepare for high-risk moderation days (such as the Voice referendum). These includes documenting positive coping mechanisms, how to implement boundaries at the end of a news shift, debriefing and asking staff to reflect on the value in their work.

Research shows one of the most protective factors for journalists is being reminded that the work is important.

But overwhelmingly, the single most significant piece of advice for all working on moderation is to ensure they have clear guidance on what to do if their wellbeing is affected, and that seeking support is normalised in the workplace.

Lessons for others

While these data are specific to the public broadcaster, it’s certain the experiences of the ABC are reflected across the news industry and other forums where people are responsible for moderating communities.

It’s not just paid employees. Volunteer moderators at youth radio stations or Facebook group admins are among the many people who face online hostility.

What’s clear is that any business or volunteer organisation building a social media audience need to consider the health and safety ramifications for those tasked with maintaining those platforms, and ensure they build in support strategies.

Australia’s eSafety commissioner has developed a range of publicly available resources to help.

The author would like to acknowledge the work of Nicolle White in writing this article and the research it reports.

Alexandra Wake is a member of Dart Asia Pacific, having previously served as a director of its Board. She is currently a joint recipient of an Australian Research Council Discovery Grant, Australian Journalism, Trauma and Community.

– ref. Moderators protect us from the worst of the internet. That comes at huge personal cost – https://theconversation.com/moderators-protect-us-from-the-worst-of-the-internet-that-comes-at-huge-personal-cost-241775

MIL OSI Analysis – EveningReport.nz –

January 25, 2025

MIL-OSI: Athabasca Oil Announces 2024 Third Quarter Results Highlighted by Strong Free Cash Flow and Continued Execution on Share Buybacks

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, Oct. 30, 2024 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its third quarter results highlighting strong free cash flow underpinned by operational momentum at all assets and continued execution on its return of capital commitment through share buybacks.

Corporate Consolidated Third Quarter Highlights

Production: Average production of 38,909 boe/d (98% Liquids), representing 8% growth year over year (16% on a per share basis). Annual production remains on track with previously increased 2024 guidance of 36,000 – 37,000 boe/d.
Cash Flow Growth: Adjusted Funds Flow of $164 million (cash flow from operating activities of $187 million) or $0.30 per share, representing 25% growth on a per share basis year over year. In 2024, the Company forecasts Adjusted Funds Flow of ~$555 million¹, supported by increased operating scale and constructive Canadian heavy oil pricing. Athabasca forecasts ~100% growth in 2024 forecasted funds flow per share relative to 2022 when growth to 28,000 bbl/d at Leismer was sanctioned.
Differentiated Balance Sheet: Proactively refinanced the Company’s senior secured second lien Notes with $200 million of senior unsecured notes at a 6.75% coupon with a 2029 maturity. Consolidated Net Cash position of $135 million with Liquidity of $456 million, including $335 million in cash.
Resilient Producer: Competitively positioned with Thermal Oil sustaining capital to hold production flat funded within cash flow at ~US$50/bbl WTI¹ and growth initiatives fully funded within cash flow at ~US$60/bbl WTI¹.
Robust Free Cash Flow: Capital flexibility and balance sheet strength supports durable asset growth and return of capital initiatives for shareholders, resulting in continued top tier cash flow per share growth into the future. Athabasca expects to generate in excess of $1 billion of Free Cash Flow at US$70/bbl WTI¹ after fully funding its growth program during the timeframe of 2024-27. The Company intends to release its 2025 capital budget in December.

Return of Capital

Cumulative Return of Capital of ~$800 million. Commencing in the Fall of 2021 a deliberate strategy prioritized $385 million of debt reduction. Share buybacks commenced in 2023 and have totaled $415 million to date.
2024 Return of Capital Commitment: Athabasca (Thermal Oil) is allocating 100% of Free Cash Flow to share buybacks in 2024. Year to date the Company has completed $257 million in share buybacks and forecasts 2024 Free Cash Flow of ~$315 million¹.
Focus on Per Share Metrics: A steadfast commitment to return of capital has driven an ~104 million share reduction (~16%) in the Company’s fully diluted share count since March 31, 2023.

Athabasca (Thermal Oil) Third Quarter Highlights

Production: ~34,900 bbl/d supported by growth at Leismer (record quarter at ~27,500 bbl/d) and stability at Hangingstone (~7,400 bbl/d).
Cash Flow: Adjusted Funds Flow of $150 million with an Operating Netback of $49.68/bbl.
Capital Program: $44 million of capital focused on sustaining operations at Leismer and Hangingstone. 2024 capital program forecast of ~$195 million including the commencement of progressive growth to 40,000 bbl/d at Leismer. The Company is currently drilling four new well pairs and six redrill opportunities at Leismer with production expected in early 2025. Two new well pairs at Hangingstone (1,400 meter laterals) will begin steaming in late November with production expected in early 2025.
Free Cash Flow: $106 million of Free Cash Flow supporting return of capital commitments.

Duvernay Energy Corporation (“DEC”) Third Quarter Highlights

Production: ~4,100 boe/d (77% Liquids) supported by production from two new pads placed on production in the spring. Results continue to support management’s type curve expectations with restricted IP180s/well averaging ~840 boe/d (82% Liquids) on the 2-well 100% working interest (“WI”) pad and IP120s/well averaging ~835 boe/d (85% Liquids) on the 3-well 30% WI pad.
Cash Flow: Adjusted Funds Flow of $14 million with an Operating Netback of $44.20/boe.
Capital Program: $6 million focused on commencing a 3-well 100% WI pad at 04-18-64-16W5 which spud in early September. The first two wells have been cased with lateral lengths averaging ~4,000 meters per well. The pad is expected to be completed in 2025. The 2024 capital program forecast is ~$75 million, fully funded within cash flow and cash on hand in DEC.

Corporate Consolidated Strategy

Value Creation: The Company’s Thermal Oil division provides a differentiated liquids weighted growth platform supported by financial resiliency to execute on return of capital initiatives. Athabasca’s subsidiary company, Duvernay Energy Corporation, is designed to enhance value for Athabasca’s shareholders by providing a clear path for self-funded production and cash flow growth in the Kaybob Duvernay resource play. Athabasca (Thermal Oil) and Duvernay Energy have independent strategies and capital allocation frameworks.
Consolidated Free Cash Flow Growth: Athabasca’s capital allocation framework is designed to unlock shareholder value by prioritizing multi‐year cash flow per share growth. In 2024, Athabasca forecasts Corporate Consolidated Adjusted Funds Flow of ~$555 million or ~$1 per share, representing ~100% per share growth over 2022 when the Company sanctioned growth to 28,000 bbl/d at Leismer. The Company’s outlook targets ~20% net Adjusted Funds Flow per share compound annual growth rate during the three-year time to 2027².

Athabasca (Thermal Oil) Strategy

Large Resource Base: Athabasca’s top-tier assets underpin a strong Free Cash Flow outlook with low sustaining capital requirements. The long life, low decline asset base includes ~1.2 billion barrels of Proved plus Probable reserves and ~1 billion barrels of Contingent Resource.
Strong Financial Position: Prudent balance sheet management is a core tenet of Athabasca’s strategy. During the quarter, Athabasca issued $200 million 6.75% senior unsecured notes due in 2029 and redeemed US$157 million 9.75% senior secured second lien notes due in 2026. The Company proactively refinanced its debt on attractive terms and maintains strategic flexibility with a Net Cash position.
Capital Efficient Leismer Expansions: As previously announced, the Company has sanctioned expansion plans at Leismer for growth to 40,000 bbl/d. This will be completed utilizing a progressive build strategy that adds incremental production in the coming years with the full capacity to be achieved in 2028. The capital for this project is estimated at $300 million for a capital efficiency of ~$25,000/bbl/d. The Company can maintain 40,000 bbl/d for approximately fifty years (Proved plus Probable Reserves).
Sustaining Hangingstone: Steaming on two new sustaining well pairs will occur later this year with first production expected in early 2025. These wells will support base production with the objective of ensuring Hangingstone continues to deliver meaningful cash flow contributions to the Company and maintaining competitive netbacks ($48.39/bbl Q3 2024 Operating Netback).
Corner – Future Optionality: The Company’s Corner asset is a large de-risked oil sands asset adjacent to Leismer with 351 million barrels of Proved plus Probable reserves and 520 million barrels Contingent Resource (Best Estimate Unrisked). There are over 300 delineation wells and ~80% seismic coverage, with reservoir qualities similar or better than Leismer. The asset has a 40,000 bbl/d regulatory approval for development with the existing pipeline corridor passing through the Corner lease. The Company has updated its development plans and is finalizing facility cost estimates. Athabasca intends to explore external funding options and does not plan to fund an expansion utilizing existing cash flow or balance sheet resources.
Exposure to Improving Heavy Oil Pricing: With the start-up of the Trans Mountain pipeline expansion (590,000 bbl/d) in early May, spare pipeline capacity is driving tighter and less volatile WCS heavy differentials. Regional liquids pricing benchmarks have also been supported by a depreciating Canadian currency relative to the United States. Every US$5/bbl WCS change impacts Athabasca (Thermal Oil) Adjusted Funds Flow by ~$85 million annually.
Significant Multi-Year Free Cash Flow: Inclusive of the progressive growth at Leismer, Athabasca (Thermal Oil) expects to generate in excess of $1 billion of Free Cash Flow at US$70 WTI¹ during the timeframe of 2024-27. Free Cash Flow will continue to support the Company’s return of capital initiatives.
Thermal Oil Royalty Advantage: Athabasca has significant unrecovered capital balances on its Thermal Oil Assets that ensure a low Crown royalty framework (~6%¹). Leismer is forecasted to remain pre-payout until late 2027¹ and Hangingstone is forecasted to remain pre-payout beyond 2030¹.
Tax Free Horizon Advantage: Athabasca (Thermal Oil) has $2.4 billion of valuable tax pools and does not forecast paying cash taxes this decade.

Duvernay Energy Strategy

Accelerating Value: DEC is an operated, private subsidiary of Athabasca (owned 70% by Athabasca and 30% by Cenovus Energy). DEC accelerates value realization for Athabasca’s shareholders by providing a clear path for self-funded production and cash flow growth without compromising Athabasca’s capacity to fund its Thermal Oil assets or its return of capital strategy.
Kaybob Duvernay Focused: Exposure to ~200,000 gross acres in the liquids rich and oil windows with ~500 gross future well locations, including ~46,000 gross acres with 100% working interest.
Self-Funded Growth: Current activity is being funded within cash flow and cash on hand. The 2024 program includes drilling and completions of a two-well 100% WI pad and a three-well 30% WI pad along with the spudding an additional multi-well pad in September 2024. The Company has self-funded growth potential to in excess of ~20,000 boe/d (75% Liquids) by the late 2020s¹.

Footnote: Refer to the “Reader Advisory” section within this news release for additional information on Non‐GAAP Financial Measures (e.g. Adjusted Funds Flow, Free Cash Flow, Sustaining Capital, Net Cash, Liquidity) and production disclosure.

¹Pricing Assumptions: realized prices January – October and flat pricing of US$70 WTI, US$12.50 WCS heavy differential, C$2 AECO, and 0.73 C$/US$ FX for the balance of 2024. 2025-27 US$70 WTI, US$12.50 WCS heavy differential, C$3.00 AECO, and 0.75 C$/US$ FX.
²The Company’s illustrative multi-year outlook assumes a 10% annual share buyback program at an implied share price of 4.5x EV/Debt Adjusted Cash flow in 2025 and beyond.

Financial and Operational Highlights

	Three months ended September 30,						Nine months ended September 30,
($ Thousands, unless otherwise noted)	2024			2023			2024			2023
CORPORATE CONSOLIDATED⁽¹⁾
Petroleum and natural gas production (boe/d)⁽²⁾		38,909			36,176			36,675			34,950
Petroleum, natural gas and midstream sales	$	376,781		$	379,241		$	1,089,635		$	952,596
Operating Income⁽²⁾	$	180,184		$	168,410		$	465,070		$	320,063
Operating Income Net of Realized Hedging⁽²⁾⁽³⁾	$	175,755		$	164,643		$	460,511		$	289,645
Operating Netback ($/boe)⁽²⁾	$	49.12		$	50.84		$	46.36		$	33.27
Operating Netback Net of Realized Hedging ($/boe)⁽²⁾⁽³⁾	$	47.91		$	49.70		$	45.91		$	30.11
Capital expenditures	$	50,634		$	33,286		$	175,098		$	101,080
Cash flow from operating activities	$	187,143		$	134,879		$	398,864		$	202,330
per share – basic	$	0.35		$	0.23		$	0.72		$	0.34
Adjusted Funds Flow⁽²⁾	$	163,680		$	141,138		$	417,198		$	213,406
per share – basic	$	0.30		$	0.24		$	0.75		$	0.36
ATHABASCA (THERMAL OIL)
Bitumen production (bbl/d)⁽²⁾		34,853			31,691			33,390			29,972
Petroleum, natural gas and midstream sales	$	372,634		$	360,761		$	1,072,954		$	895,167
Operating Income⁽²⁾	$	163,694		$	155,415		$	425,837		$	278,533
Operating Netback ($/bbl)⁽²⁾	$	49.68		$	53.59		$	46.64		$	33.72
Capital expenditures	$	44,431		$	34,439		$	120,634		$	89,604
Adjusted Funds Flow⁽²⁾	$	150,088					$	383,214
Free Cash Flow⁽²⁾	$	105,657					$	262,580
DUVERNAY ENERGY⁽¹⁾
Petroleum and natural gas production (boe/d)⁽²⁾		4,056			4,485			3,285			4,978
Percentage Liquids (%)⁽²⁾	77		%	55		%	77		%	56		%
Petroleum, natural gas and midstream sales	$	24,728		$	24,508		$	63,015		$	78,403
Operating Income⁽²⁾	$	16,490		$	12,995		$	39,233		$	41,530
Operating Netback ($/boe)⁽²⁾	$	44.20		$	31.50		$	43.59		$	30.56
Capital expenditures	$	6,203		$	(1,153	)	$	54,464		$	11,476
Adjusted Funds Flow⁽²⁾	$	13,592					$	33,984
Free Cash Flow⁽²⁾	$	7,389					$	(20,480	)
NET INCOME AND COMPREHENSIVE INCOME
Net income and comprehensive income⁽⁴⁾	$	68,722		$	(79,212	)	$	203,407		$	(78,726	)
per share – basic⁽⁴⁾	$	0.13		$	(0.14	)	$	0.37		$	(0.13	)
per share – diluted⁽⁴⁾	$	0.12		$	(0.14	)	$	0.36		$	(0.13	)
COMMON SHARES OUTSTANDING
Weighted average shares outstanding – basic		540,884,257			581,917,255			555,035,218			586,906,810
Weighted average shares outstanding – diluted		550,712,443			581,917,255			559,203,568			586,906,810

	September 30		December 31
As at ($ Thousands)	2024		2023
LIQUIDITY AND BALANCE SHEET
Cash and cash equivalents	$	334,851	$	343,309
Available credit facilities⁽⁵⁾	$	121,316	$	85,488
Face value of term debt⁽⁶⁾	$	200,000	$	207,648

(1) Corporate Consolidated and Duvernay Energy reflect gross production and financial metrics before taking into consideration Athabasca’s 70% equity interest in Duvernay Energy.
(2) Refer to the “Reader Advisory” section within this News Release for additional information on Non-GAAP Financial Measures and production disclosure.
(3) Includes realized commodity risk management loss of $4.4 million and $4.6 million for the three and nine months ended September 30, 2024 (three and nine months ended September 30, 2023 – loss of $3.8 million and $30.4 million).
(4) Net income (loss) and comprehensive income (loss) per share amounts are based on net income (loss) and comprehensive income (loss) attributable to shareholders of the Parent Company. In the calculation of diluted net income (loss) per share for the three months ended September 30, 2024 net income (loss) was reduced by $2.6 million to account for the impact to net income (loss) had the outstanding warrants been converted to equity.
(5) Includes available credit under Athabasca’s and Duvernay Energy’s Credit Facilities and Athabasca’s Unsecured Letter of Credit Facility.
(6) The face value of the term debt at December 31, 2023 was US$157.0 million translated into Canadian dollars at the December 31, 2023 exchange rate of US$1.00 = C$1.3226.

Operations Update

Athabasca (Thermal Oil)

Production for the third quarter of 2024 averaged 34,853 bbl/d. The Thermal Oil division generated Operating Income of $164 million (Operating Netbacks – $50.05/bbl at the Leismer and $48.39/bbl at Hangingstone) during the period with capital expenditures of $44 million, primarily related to drilling and completions, and progressing future growth initiatives at Leismer.

Leismer

Leismer produced a record 27,485 bbl/d during the quarter following the completion of the facility expansion. The Company is continuing with progressive growth to increase Leismer production to 40,000 bbl/d (regulatory approved capacity) over the next three years. These capital projects are flexible and highly economic (~$25,000/bbl/d capital efficiency) and will maximize value creation when executed alongside the Company’s return of capital initiatives. Activity over the next three years will include drilling ~20 well pairs (sustaining and growth wells), expanding steam capacity to ~130,000 bbl/d and adding oil processing capacity at the central processing facility. The project will benefit from installing opportunistically pre-purchased steam generators which reduce the timelines and costs for the project.

Activity in H2 2024 includes drilling four sustaining well pairs at Pad L10 and six extended redrills on Pad L1, with production expected in early 2025.

Hangingstone

Production during the quarter averaged 7,368 bbl/d. Non-condensable gas co-injection continues to assist in pressure support, reduced energy usage and an improved SOR averaging ~3.4x year to date. During the quarter the Company rig released two ~1,400 meter well pairs with first steam planned for later this year and production in early 2025. Well design with extended reach laterals is expected to drive project capital efficiencies of ~$15,000/bbl/d and will leverage off available plant and infrastructure capacity. These sustaining well pairs will support base production with the objective of ensuring Hangingstone continues to deliver meaningful cash flow contributions to the Company and maintaining competitive netbacks.

Duvernay Energy

Production for the third quarter of 2024 averaged 4,056 boe/d (77% Liquids). Duvernay Energy generated Operating Income of $16 million (Operating Netback – $44.20/boe) during the period.

Duvernay Energy brought its two-well 100% working interest pad at 03-18-64-17W5 on production in late April. The pad generated an average restricted 180-day rate of ~840 boe/d per well (82% liquids). A three well pad (30% working interest) at 02-03-65-20W5 was brought on production in late May, with an approximate 120-day rate of ~835 boe/d per well (85% liquids). Both pads are performing in-line with management’s expectations and are exhibiting strong extended results with high liquids content. The Company spud a three-well 100% working interest pad at 4-18-64-16W5 in September. Two wells have been cased on this pad with average laterals of ~4,000 meters per well. The operated pad of wells is expected to be completed in 2025.

About Athabasca Oil Corporation

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca’s light oil assets are held in a private subsidiary (Duvernay Energy Corporation) in which Athabasca owns a 70% equity interest. Athabasca’s common shares trade on the TSX under the symbol “ATH”. For more information, visit www.atha.com.

For more information, please contact:

Reader Advisory:

This News Release contains forward-looking information that involves various risks, uncertainties and other factors. All information other than statements of historical fact is forward-looking information. The use of any of the words “anticipate”, “plan”, “project”, “continue”, “maintain”, “may”, “estimate”, “expect”, “will”, “target”, “forecast”, “could”, “intend”, “potential”, “guidance”, “outlook” and similar expressions suggesting future outcome are intended to identify forward-looking information. The forward-looking information is not historical fact, but rather is based on the Company’s current plans, objectives, goals, strategies, estimates, assumptions and projections about the Company’s industry, business and future operating and financial results. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking information included in this News Release should not be unduly relied upon. This information speaks only as of the date of this News Release. In particular, this News Release contains forward-looking information pertaining to, but not limited to, the following: our strategic plans; the allocation of future capital; timing and quantum for shareholder returns including share buybacks; the terms of our NCIB program; our drilling plans and capital efficiencies; production growth to expected production rates and estimated sustaining capital amounts; timing of Leismer’s and Hangingstone’s pre-payout royalty status; applicability of tax pools and the timing of tax payments; expected operating results at Hangingstone; Adjusted Funds Flow and Free Cash Flow in 2024 and 2025 to 2027; type well economic metrics; number of drilling locations; forecasted daily production and the composition of production; our outlook in respect of the Company’s business environment, including in respect of the Trans Mountain pipeline expansion and heavy oil pricing; and other matters.

In addition, information and statements in this News Release relating to “Reserves” and “Resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and that the reserves and resources described can be profitably produced in the future. With respect to forward-looking information contained in this News Release, assumptions have been made regarding, among other things: commodity prices; the regulatory framework governing royalties, taxes and environmental matters in the jurisdictions in which the Company conducts and will conduct business and the effects that such regulatory framework will have on the Company, including on the Company’s financial condition and results of operations; the Company’s financial and operational flexibility; the Company’s financial sustainability; Athabasca’s cash flow break-even commodity price; the Company’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the applicability of technologies for the recovery and production of the Company’s reserves and resources; future capital expenditures to be made by the Company; future sources of funding for the Company’s capital programs; the Company’s future debt levels; future production levels; the Company’s ability to obtain financing and/or enter into joint venture arrangements, on acceptable terms; operating costs; compliance of counterparties with the terms of contractual arrangements; impact of increasing competition globally; collection risk of outstanding accounts receivable from third parties; geological and engineering estimates in respect of the Company’s reserves and resources; recoverability of reserves and resources; the geography of the areas in which the Company is conducting exploration and development activities and the quality of its assets. Certain other assumptions related to the Company’s Reserves and Resources are contained in the report of McDaniel & Associates Consultants Ltd. (“McDaniel”) evaluating Athabasca’s Proved Reserves, Probable Reserves and Contingent Resources as at December 31, 2023 (which is respectively referred to herein as the “McDaniel Report”).

Actual results could differ materially from those anticipated in this forward-looking information as a result of the risk factors set forth in the Company’s Annual Information Form (“AIF”) dated February 29, 2024 available on SEDAR at www.sedarplus.ca, including, but not limited to: weakness in the oil and gas industry; exploration, development and production risks; prices, markets and marketing; market conditions; climate change and carbon pricing risk; statutes and regulations regarding the environment including deceptive marketing provisions; regulatory environment and changes in applicable law; gathering and processing facilities, pipeline systems and rail; reputation and public perception of the oil and gas sector; environment, social and governance goals; political uncertainty; state of capital markets; ability to finance capital requirements; access to capital and insurance; abandonment and reclamation costs; changing demand for oil and natural gas products; anticipated benefits of acquisitions and dispositions; royalty regimes; foreign exchange rates and interest rates; reserves; hedging; operational dependence; operating costs; project risks; supply chain disruption; financial assurances; diluent supply; third party credit risk; indigenous claims; reliance on key personnel and operators; income tax; cybersecurity; advanced technologies; hydraulic fracturing; liability management; seasonality and weather conditions; unexpected events; internal controls; limitations and insurance; litigation; natural gas overlying bitumen resources; competition; chain of title and expiration of licenses and leases; breaches of confidentiality; new industry related activities or new geographical areas; water use restrictions and/or limited access to water; relationship with Duvernay Energy Corporation; management estimates and assumptions; third-party claims; conflicts of interest; inflation and cost management; credit ratings; growth management; impact of pandemics; ability of investors resident in the United States to enforce civil remedies in Canada; and risks related to our debt and securities. All subsequent forward-looking information, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

Also included in this News Release are estimates of Athabasca’s 2024 outlook which are based on the various assumptions as to production levels, commodity prices, currency exchange rates and other assumptions disclosed in this News Release. To the extent any such estimate constitutes a financial outlook, it was approved by management and the Board of Directors of Athabasca and is included to provide readers with an understanding of the Company’s outlook. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the financial outlook or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The outlook and forward-looking information contained in this New Release was made as of the date of this News release and the Company disclaims any intention or obligations to update or revise such outlook and/or forward-looking information, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law.

Oil and Gas Information

“BOEs” may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

Initial Production Rates

Test Results and Initial Production Rates: The well test results and initial production rates provided herein should be considered to be preliminary, except as otherwise indicated. Test results and initial production rates disclosed herein may not necessarily be indicative of long-term performance or of ultimate recovery.

Reserves Information

The McDaniel Report was prepared using the assumptions and methodology guidelines outlined in the COGE Handbook and in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, effective December 31, 2023. There are numerous uncertainties inherent in estimating quantities of bitumen, light crude oil and medium crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth above are estimates only. In general, estimates of economically recoverable reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially. For those reasons, estimates of the economically recoverable reserves attributable to any particular group of properties, classification of such reserves based on risk of recovery and estimates of future net revenues associated with reserves prepared by different engineers, or by the same engineers at different times, may vary. The Company’s actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. Reserves figures described herein have been rounded to the nearest MMbbl or MMboe. For additional information regarding the consolidated reserves and information concerning the resources of the Company as evaluated by McDaniel in the McDaniel Report, please refer to the Company’s AIF.

Reserve Values (i.e. Net Asset Value) is calculated using the estimated net present value of all future net revenue from our reserves, before income taxes discounted at 10%, as estimated by McDaniel effective December 31, 2023 and based on average pricing of McDaniel, Sproule and GLJ as of January 1, 2024.

The 500 gross Duvernay drilling locations referenced include: 37 proved undeveloped locations and 76 probable undeveloped locations for a total of 113 booked locations with the balance being unbooked locations. Proved undeveloped locations and probable undeveloped locations are booked and derived from the Company’s most recent independent reserves evaluation as prepared by McDaniel as of December 31, 2023 and account for drilling locations that have associated proved and/or probable reserves, as applicable. Unbooked locations are internal management estimates. Unbooked locations do not have attributed reserves or resources (including contingent or prospective). Unbooked locations have been identified by management as an estimation of Athabasca’s multi-year drilling activities expected to occur over the next two decades based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Company will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The drilling locations on which the Company will actually drill wells, including the number and timing thereof is ultimately dependent upon the availability of funding, commodity prices, provincial fiscal and royalty policies, costs, actual drilling results, additional reservoir information that is obtained and other factors.

Non-GAAP and Other Financial Measures, and Production Disclosure

The “Corporate Consolidated Adjusted Funds Flow”, “Corporate Consolidated Adjusted Funds Flow per Share”, “Athabasca (Thermal Oil) Adjusted Funds Flow”, “Duvernay Energy Adjusted Funds Flow”, “Corporate Consolidated Free Cash Flow”, “Athabasca (Thermal Oil) Free Cash Flow”, “Duvernay Energy Free Cash Flow”, “Corporate Consolidated Operating Income”, “Corporate Consolidated Operating Income Net of Realized Hedging”, “Athabasca (Thermal Oil) Operating Income”, “Duvernay Energy Operating Income”, “Corporate Consolidated Operating Netback”, “Corporate Consolidated Operating Netback Net of Realized Hedging”, “Athabasca (Thermal Oil) Operating Netback”, “Duvernay Energy Operating Netback” and “Cash Transportation and Marketing Expense” financial measures contained in this News Release do not have standardized meanings which are prescribed by IFRS and they are considered to be non-GAAP financial measures or ratios. These measures may not be comparable to similar measures presented by other issuers and should not be considered in isolation with measures that are prepared in accordance with IFRS. Sustaining Capital, Net Cash and Liquidity are supplementary financial measures. The Leismer and Hangingstone operating results are supplementary financial measures that when aggregated, combine to the Athabasca (Thermal Oil) segment results.

Adjusted Funds Flow, Adjusted Funds Flow Per Share and Free Cash Flow

Adjusted Funds Flow and Free Cash Flow are non-GAAP financial measures and are not intended to represent cash flow from operating activities, net earnings or other measures of financial performance calculated in accordance with IFRS. The Adjusted Funds Flow and Free Cash Flow measures allow management and others to evaluate the Company’s ability to fund its capital programs and meet its ongoing financial obligations using cash flow internally generated from ongoing operating related activities. Adjusted Funds Flow per share is a non-GAAP financial ratio calculated as Adjusted Funds Flow divided by the applicable number of weighted average shares outstanding. Adjusted Funds Flow and Free Cash Flow are calculated as follows:

	Three months ended September 30, 2024									Three months ended September 30, 2023
($ Thousands)	Athabasca (Thermal Oil)			Duvernay Energy⁽¹⁾			Corporate Consolidated⁽¹⁾			Corporate Consolidated
Cash flow from operating activities	$	169,950		$	17,193		$	187,143		$	134,879
Changes in non-cash working capital		(20,201	)		(3,401	)		(23,602	)		5,898
Settlement of provisions		339			(200	)		139			361
ADJUSTED FUNDS FLOW		150,088			13,592			163,680			141,138
Capital expenditures		(44,431	)		(6,203	)		(50,634	)		(33,286	)
FREE CASH FLOW	$	105,657		$	7,389		$	113,046		$	107,852

(1) Duvernay Energy and Corporate Consolidated reflect gross financial metrics before taking into consideration Athabasca’s 70% equity interest in Duvernay Energy.

	Nine months ended September 30, 2024									Nine months ended September 30, 2023
($ Thousands)	Athabasca (Thermal Oil)			Duvernay Energy⁽¹⁾			Corporate Consolidated⁽¹⁾			Corporate Consolidated
Cash flow from operating activities	$	367,018		$	31,846		$	398,864		$	202,330
Changes in non-cash working capital		14,560			2,134			16,694			22,498
Settlement of provisions		1,636			4			1,640			1,155
Long-term deposit		—			—			—			(12,577	)
ADJUSTED FUNDS FLOW		383,214			33,984			417,198			213,406
Capital expenditures		(120,634	)		(54,464	)		(175,098	)		(101,080	)
FREE CASH FLOW	$	262,580		$	(20,480	)	$	242,100		$	112,326

(1) Duvernay Energy and Corporate Consolidated reflect gross financial metrics before taking into consideration Athabasca’s 70% equity interest in Duvernay Energy.

Duvernay Energy Operating Income and Operating Netback

The non-GAAP measure Duvernay Energy Operating Income in this News Release is calculated by subtracting the Duvernay Energy royalties, operating expenses and transportation & marketing expenses from petroleum and natural gas sales which is the most directly comparable GAAP measure. The Duvernay Energy Operating Netback per boe is a non-GAAP financial ratio calculated by dividing the Duvernay Energy Operating Income by the Duvernay Energy production. The Duvernay Energy Operating Income and the Duvernay Energy Operating Netback measures allow management and others to evaluate the production results from the Company’s Duvernay Energy assets.

The Duvernay Energy Operating Income is calculated using the Duvernay Energy Segments GAAP results, as follows:

	Three months ended September 30,						Nine months ended September 30,
($ Thousands, unless otherwise noted)	2024			2023			2024			2023
Petroleum and natural gas sales	$	24,728		$	24,508		$	63,015		$	78,403
Royalties		(2,470	)		(3,510	)		(8,282	)		(10,403	)
Operating expenses		(4,684	)		(5,964	)		(12,387	)		(19,988	)
Transportation and marketing		(1,084	)		(2,039	)		(3,113	)		(6,482	)
DUVERNAY ENERGY OPERATING INCOME	$	16,490		$	12,995		$	39,233		$	41,530

Athabasca (Thermal Oil) Operating Income and Operating Netback

The non-GAAP measure Athabasca (Thermal Oil) Operating Income in this News Release is calculated by subtracting the Athabasca (Thermal Oil) segments cost of diluent blending, royalties, operating expenses and cash transportation & marketing expenses from heavy oil (blended bitumen) and midstream sales which is the most directly comparable GAAP measure. The Athabasca (Thermal Oil) Operating Netback per bbl is a non-GAAP financial ratio calculated by dividing the respective projects Operating Income by its respective bitumen sales volumes. The Athabasca (Thermal Oil) Operating Income and the Athabasca (Thermal Oil) Operating Netback measures allow management and others to evaluate the production results from the Athabasca (Thermal Oil) assets. The Athabasca (Thermal Oil) Operating Income is calculated using the Athabasca (Thermal Oil) Segments GAAP results, as follows:

	Three months ended September 30,						Nine months ended September 30,
($ Thousands)	2024			2023			2024			2023
Heavy oil (blended bitumen) and midstream sales	$	372,634		$	360,761		$	1,072,954		$	895,167
Cost of diluent		(129,965	)		(117,418	)		(411,991	)		(380,781	)
Total bitumen and midstream sales		242,669			243,343			660,963			514,386
Royalties		(22,291	)		(27,613	)		(62,651	)		(45,170	)
Operating expenses – non-energy		(24,903	)		(19,521	)		(72,445	)		(63,349	)
Operating expenses – energy		(9,994	)		(20,572	)		(38,187	)		(64,118	)
Transportation and marketing⁽¹⁾		(21,787	)		(20,222	)		(61,843	)		(63,216	)
ATHABASCA (THERMAL OIL) OPERATING INCOME	$	163,694		$	155,415		$	425,837		$	278,533

(1) Transportation and marketing excludes non-cash costs of $0.6 million and $1.7 million for the three and nine months ended September 30, 2024 (three and nine months ended September 30, 2023 – $0.6 million and $1.7 million).

Corporate Consolidated Operating Income and Corporate Consolidated Operating Income Net of Realized Hedging and Operating Netbacks

The non-GAAP measures of Corporate Consolidated Operating Income including or excluding realized hedging in this News Release are calculated by adding or subtracting realized gains (losses) on commodity risk management contracts (as applicable), royalties, the cost of diluent blending, operating expenses and cash transportation & marketing expenses from petroleum, natural gas and midstream sales which is the most directly comparable GAAP measure. The Corporate Consolidated Operating Netbacks including or excluding realized hedging per boe are non-GAAP ratios calculated by dividing Corporate Consolidated Operating Income including or excluding hedging by the total sales volumes and are presented on a per boe basis. The Corporate Consolidated Operating Income and Corporate Consolidated Operating Netbacks including or excluding realized hedging measures allow management and others to evaluate the production results from the Company’s Duvernay Energy and Athabasca (Thermal Oil) assets combined together including the impact of realized commodity risk management gains or losses (as applicable).

	Three months ended September 30,						Nine months ended September 30,
($ Thousands)	2024			2023			2024			2023
Petroleum, natural gas and midstream sales⁽¹⁾	$	397,362		$	385,269		$	1,135,969		$	973,570
Royalties		(24,761	)		(31,123	)		(70,933	)		(55,573	)
Cost of diluent⁽¹⁾		(129,965	)		(117,418	)		(411,991	)		(380,781	)
Operating expenses		(39,581	)		(46,057	)		(123,019	)		(147,455	)
Transportation and marketing⁽²⁾		(22,871	)		(22,261	)		(64,956	)		(69,698	)
Operating Income		180,184			168,410			465,070			320,063
Realized loss on commodity risk mgmt. contracts		(4,429	)		(3,767	)		(4,559	)		(30,418	)
OPERATING INCOME NET OF REALIZED HEDGING	$	175,755		$	164,643		$	460,511		$	289,645

(1) Non-GAAP measure includes intercompany NGLs (i.e. condensate) sold by the Duvernay Energy segment to the Athabasca (Thermal Oil) segment for use as diluent that is eliminated on consolidation.
(2) Transportation and marketing excludes non-cash costs of $0.6 million and $1.7 million for the three and nine months ended September 30, 2024 (three and nine months ended September 30, 2023 – $0.6 million and $1.7 million).

Cash Transportation and Marketing Expense

The Cash Transportation and Marketing Expense financial measures contained in this News Release are calculated by subtracting the non-cash transportation and marketing expense as reported in the Consolidated Statement of Cash Flows from the transportation and marketing expense as reported in the Consolidated Statement of Income (Loss) and are considered to be non-GAAP financial measures.

Sustaining Capital

Sustaining Capital is managements’ assumption of the required capital to maintain the Company’s production base.

Net Cash

Net Cash is defined as the face value of term debt, plus accounts payable and accrued liabilities, plus current portion of provisions and other liabilities plus income tax payable less current assets, excluding risk management contracts.

Liquidity

Liquidity is defined as cash and cash equivalents plus available credit capacity.

Production volumes details

	Three months ended September 30,				Nine months ended September 30,
Production	2024		2023		2024		2023
Duvernay Energy:
Oil⁽¹⁾	bbl/d	2,688		1,398		2,235		1,461
Condensate NGLs	bbl/d	—		581		—		705
Oil and condensate NGLs	bbl/d	2,688		1,979		2,235		2,166
Other NGLs	bbl/d	447		528		298		615
Natural gas⁽²⁾	mcf/d	5,526		11,869		4,511		13,181
Total Duvernay Energy	boe/d	4,056		4,485		3,285		4,978
Total Thermal Oil bitumen	bbl/d	34,853		31,691		33,390		29,972
Total Company production	boe/d	38,909		36,176		36,675		34,950

(1) Comprised of 99% or greater of tight oil, with the remaining being light and medium crude oil.
(2) Comprised of 99% or greater of shale gas, with the remaining being conventional natural gas.

This News Release also makes reference to Athabasca’s forecasted average daily Thermal Oil production of 33,000 – 34,000 bbl/d for 2024. Athabasca expects that 100% of that production will be comprised of bitumen. Duvernay Energy’s forecasted total average daily production of ~3,000 boe/d for 2024 is expected to be comprised of approximately 67% tight oil, 23% shale gas and 10% NGLs.

Liquids is defined as bitumen, light crude oil, medium crude oil and natural gas liquids.

Footnote: Refer to the “Reader Advisory” section within this news release for additional information on Non‐GAAP Financial Measures (e.g. Adjusted Funds Flow, Free Cash Flow, Sustaining Capital, Net Cash, Liquidity) and production disclosure.

¹ Pricing Assumptions: realized prices January – October and flat pricing of US$70 WTI, US$12.50 WCS heavy differential, C$2 AECO, and 0.73 C$/US$ FX for the balance of 2024. 2025-27 US$70 WTI, US$12.50 WCS heavy differential, C$3.00 AECO, and 0.75 C$/US$ FX.
² The Company’s illustrative multi-year outlook assumes a 10% annual share buyback program at an implied share price of 4.5x EV/Debt Adjusted Cash flow in 2025 and beyond.

The MIL Network –

January 25, 2025

MIL-OSI Economics: Multidonor Fund for the Chocó Biogeographic Region: An International Commitment to Biodiversity and Environmental Justice

Source: CAF Development Bank of Latin America

Last night’s gathering featured Costa Rica’s Foreign Minister, Arnoldo Andrés Tinoco; CAF – Development Bank of Latin America and the Caribbean – President, Sergio Díaz Granados; and Panama’s Special Representative for Climate Change, Juan Carlos Montero.

Colombian Foreign Minister Luis Gilberto Murillo emphasized the strong link between cultural and biological diversity, noting that the Chocó Biogeographic region is one of the most biodiverse places on Earth per square meter, protected by its people. He urged the world to recognize this, stating that “this visibility is essential to support the people who live there. Conservation here is a cultural reality, a service to humanity that has gone unrecognized and uncompensated. This COP belongs to the people and must be about implementation.”

Minister Murillo added, “This is why we insist on amplifying voices, resources, and environmental justice” and highlighted the establishment of the Multidonor Fund as “a significant step forward.”

He explained that Colombia, Costa Rica, Ecuador, and Panama share ecosystems, making “this initiative of utmost importance,” and pointed out that “for many years, the Chocó Biogeographic region has been championed by naturalists, scientists, activists, social leaders, and the region’s ethnic communities.”

Vice President and Equality Minister Francia Márquez emphasized that the fund is a step toward “ethnic justice” and proposed community participation in its governance: “Governance cannot be limited to the states; it must include community representation” to ensure transformative projects that contribute to conservation goals and local well-being.

Costa Rica’s Foreign Minister praised the opportunity to join the launch of the Multidonor Fund for the Conservation and Restoration of the Chocó Biogeographic Region and other areas, stressing that “our collective efforts are far more effective when we work together towards ecosystem conservation and sustainable development.” He affirmed Costa Rica’s commitment to conservation.

About the Multidonor Fund

The Multidonor Fund will support conservation and restoration efforts, biodiversity and ecosystem preservation, climate change mitigation and adaptation, and sustainable development within the Chocó Biogeographic region and other interconnected ecoregions.

The Chocó Biogeographic region is an expansive zone stretching from the Pacific coasts of Ecuador, Colombia, and Panama, extending into the Caribbean, hills, and mountain ranges that converge with Costa Rica’s neotropical forests. This ecological connectivity forms a bridge for biodiversity distribution and is renowned worldwide for its lush natural wealth and extraordinary diversity.

However, the region faces significant threats: deforestation, illegal mining, wildlife trafficking, and social conflicts endanger the ecosystems and communities reliant on them. These challenges demand urgent, united action to protect this invaluable cultural and natural heritage, crucial for local populations and global ecological balance.

Organized communities, including Afro-descendant and Indigenous peoples and local communities, are essential to the Chocó Biogeographic region’s cultural diversity. Their legacy of resilience and adaptation, along with their deep environmental knowledge, make them vital contributors to biodiversity conservation and sustainable development.

To advance fund formulation, structuring, and implementation, the parties agree to invite CAF – Development Bank of Latin America and the Caribbean – to support these efforts.

The Governments of Colombia, Costa Rica, Ecuador, and Panama call for collaboration, inviting international organizations, the private sector, specialized funds, philanthropic organizations, and other potential donors to join civil society in safeguarding the Chocó Biogeographic region as a stronghold of biodiversity and resilience against global environmental challenges. Let us form new alliances for biodiversity protection, climate justice, and sustainable development to ensure a prosperous and sustainable future together.

MIL OSI Economics –

January 25, 2025
MIL-OSI Economics: The Americas Flyways Initiative to begin implementation in January 2025
Source: CAF Development Bank of Latin America

After two years of rigorous science-based design, the Americas Flyways Initiative (AFI) is moving into its implementation phase in 2025, aimed at protecting and restoring critical ecosystems through Nature-Based Solutions (NbS) and bird-friendly infrastructure that also benefits people.

Inspired by the wonderful world of birds and their epic migratory journeys across the hemisphere, which connect landscapes, cultures, and people, the AFI science team has identified a portfolio of crucial sites to ensure the connectivity and conservation of at least 10% of prioritized populations of migratory shorebirds and landbirds in the Americas.

Birds serve as vital bioindicators of the health of nature. They not only signal the problems we face but also point to solutions: where and how we need to act. Protecting birds means protecting life. For example, 85% of the important bird conservation sites in Colombia coincide with key areas for water regulation and climate change mitigation.

Currently, AFI has five initial projects, also known as “nest projects,” named for their connection to shelter, development, and well-being:
1. Improving coastal climate resilience in the Rocuant Andalién Wetland in Chile;
2. Restoring montane forest landscapes and aquatic ecosystems in the northwestern Andes of Ecuador;
3. Integrating bird-friendly practices in transmission and distribution power lines reaching the coast of Guayas, Ecuador;
4. Incorporating bird-friendly architecture and design at the CAF headquarters in Panama City;
5. Knowledge exchange on best practices at the Iona Wastewater Treatment Plant on Iona Island, British Columbia.
To guide project developers in designing and implementing proposals that combine conservation and sustainable development, AFI has also released four practical and strategic guides:
- Guide 1: High biodiversity and carbon-dense ecosystems.
- Guide 2: Water security: drinking water, sanitation, and access to irrigation.
- Guide 3: Coastal management.
- Guide 4: Infrastructure.
The relevance of AFI is grounded in the premise that conservation without funding is merely conversation. Without agile and sustainable financial resources, effective conservation, protection, and restoration of nature cannot be achieved. Currently, there is a financial gap of between $598 billion and $824 billion annually needed to implement actions addressing the climate crisis and biodiversity loss.

One of the primary objectives of the sixteenth Conference of the Parties (COP 16) to the Convention on Biological Diversity (CBD), taking place in Cali, is to advance the details and mechanisms for meeting Target 19 of the Global Biodiversity Framework: achieving the annual mobilization of at least $200 billion by 2030. Of this amount, it is expected that at least $30 billion will be directed toward developing countries, which are often more severely affected by climate change impacts and wildlife decline.

As of the date of this statement, eight governments have pledged $163 million to enable the Global Biodiversity Fund (GBFF) to implement the Kunming-Montreal Biodiversity Framework. While this is a step forward, it remains insufficient given the scale of what is required and the context we face.

The protection and sustainable use of the services and resources we receive from nature are not solely the responsibility of the naturalist or scientific community. More than half of the world’s economy depends on the benefits provided by nature: clean water and air, fertile soils, food, medicine, raw materials, among others. More than half of the global GDP is moderately or highly dependent on nature and its services. Consequently, this figure is linked to the risks and impacts associated with the destruction of nature.

Therefore, actions aimed at the conservation, restoration, and sustainable management of ecosystems and their biodiversity are an obligation and responsibility for all sectors, as they form the fundamental basis for our societies to continue existing and thriving. Fortunately, much of the answer to the challenge of channeling financing for biodiversity lies within nature itself.

“Nature-Based Solutions (NbS) are actions to protect, sustainably manage, and restore natural and modified ecosystems that effectively and adaptively address societal challenges while simultaneously benefiting people and nature” (IUCN, 2016).

In this context, at COP15 in Montreal, the National Audubon Society, BirdLife International, and the Development Bank of Latin America and the Caribbean (CAF) forged a commitment and the foundations of a strategic, transformative, and visionary alliance that will mobilize investment for nature and the communities that depend on it through a comprehensive financial mechanism.

AFI is a symbiosis for prosperity that combines cutting-edge applied science and agile financial mechanisms to sustainably manage over 30 marine and terrestrial landscapes by 2050, mobilizing between $3 trillion and $5 trillion.

Elizabeth Gray, CEO of Audubon, highlighted the importance of the initiative: “We are working together to protect 30 terrestrial and marine landscapes across this vast region. This is essential for promoting nature-based solutions and sustainable development. The Americas is one of the most biodiverse regions in the world, and we have much to do to address both the biodiversity and climate crises.”

Martin Harper, CEO of BirdLife International, expressed gratitude and recognition to the teams from the three organizations for their hard work in reaching this point: “We are building something very special, something that will unite conservation efforts across the Americas. This initiative is already inspiring similar projects in other major migratory routes worldwide.”

Sergio Díaz Granados, Executive President of CAF, reminded attendees of the bank’s efforts to become the green bank of the region, including increasing its capital to address the climate emergency: “The loss of biodiversity is one of our most urgent problems. Mitigating it and adapting is not a choice; it is a responsibility we must fulfill. We have been collaborating with institutions like Audubon and BirdLife to bridge conservation gaps in Latin America and the Caribbean.”
MIL OSI Economics –
January 25, 2025
MIL-OSI China: BYD reports rising revenue, net profit from Jan.-Sept.

Source: China State Council Information Office

Chinese auto company BYD registered increasing revenues and net profits in both the first nine months and the third quarter of this year, the company said on Wednesday.

The Shenzhen-based company’s revenue for the January-September period was 502.25 billion yuan (about 70.35 billion U.S. dollars), up 18.9 percent year on year. Its net profit during the period increased 18.1 percent year on year to 25.24 billion yuan.

In the third quarter, BYD’s revenue increased by about 24 percent and its net profit by 11.5 percent, the company said in its quarterly report.

A leading producer of electric cars and hybrid vehicles, BYD’s auto sales surpassed 2.74 million units in the first three quarters, with its September sales hitting a monthly record of 419,400 units.

The company said its exports of new energy passenger cars doubled to 298,000 units in the first nine months, and it has entered 96 countries and regions around the world.

BYD is one of many NEV producers that have seen booming sales as China, which has the largest number of motor vehicles in the world, continues its transition toward greener technology.

China’s NEV output between January and September was 8.3 million units, representing annual growth of 31.7 percent, according to the China Association of Automobile Manufacturers.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Meta reports Q3 results with net income, revenue increase

Source: China State Council Information Office

U.S. social media giant Meta Platforms, Inc. on Wednesday reported financial results for the third quarter ending Sept. 30, with a total quarterly revenue of 40.59 billion U.S. dollars, a 19 percent increase year on year.

The company’s quarterly net income increased to 15.69 billion dollars, up 35 percent from 11.58 billion dollars year on year. The diluted earnings per share for the quarter increased to 6.03 dollars from 4.39 dollars in the same period of 2023, said Meta, which is based in Menlo Park, California.

The company’s family daily active people (DAP) was 3.29 billion on average for September 2024, an increase of 5 percent year over year.

Its cash, cash equivalents and marketable securities were 70.90 billion dollars as of Sept. 30, 2024. Free cash flow was 15.52 billion dollars, according to the company.

“We had a good quarter driven by AI progress across our apps and business,” said Mark Zuckerberg, Meta founder and CEO. “We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses.”

The company expects fourth quarter 2024 total revenue to be in the range of 45 billion to 48 billion dollars, and the full-year 2024 total expenses to be in the range of 96 billion to 98 billion dollars, updated from its prior range of 96 billion to 99 billion dollars.

Meta anticipates the full-year 2024 capital expenditures will be in the range of 38 billion to 40 billion dollars, and expects significant capital expenditures growth in 2025.

According to Meta, the increasing legal and regulatory headwinds in the European Union and the United States could significantly impact its business and financial results, and the company will continue to monitor the active regulatory landscape.

MIL OSI China News –

January 25, 2025
MIL-OSI Australia: New board members appointed to Independent Liquor and Gaming Authority

Source: New South Wales Ministerial News

Published: 31 October 2024

Released by: Minister for Gaming and Racing

The NSW Government has made appointments to the board of the Independent Liquor and Gaming Authority (ILGA), including a deputy chairperson and two new members.

Associate Professor Amelia Thorpe and Nicholas Nichles have been appointed following a rigorous public expression of interest selection process. Additionally, existing member Chris Honey has been appointed deputy chairperson.

ILGA is a statutory decision-maker responsible for a range of liquor, registered club, and gaming machine regulatory functions including determining licensing and disciplinary matters.

The appointments follow the end of the term of appointment for outgoing deputy chairperson Sarah Dinning, and also fill vacancies that existed on the board.

Mr Honey, who was appointed a member of ILGA earlier in 2024, has been named deputy chairperson until the end of his current appointment term (11 February 2027). Mr Honey has extensive experience in the advisory and restructuring field, including working extensively in highly regulated sectors.

Associate Professor Thorpe and Mr Nichles have both been appointed for four years commencing 6 November 2024.

Associate Prof Thorpe is with the Faculty of Law & Justice at the University of New South Wales and an Acting Commissioner of the NSW Land and Environment Court.

Mr Nichles was previously a Consul General and Senior Trade and Investment Commissioner for Australian Government agency Austrade, based in the US.

The new appointments bring the ILGA board membership to seven.

The new appointments will join chairperson Caroline Lamb, new deputy chairperson Mr Honey and current members Cathie Armour, Jeffrey Loy APM and Dr Suzanne Craig.

For more information about ILGA, visit: https://www.ilga.nsw.gov.au/

Minister for Gaming and Racing David Harris said:

“I would like to thank Sarah Dinning for her contribution to the Independent Liquor and Gaming Authority, including during her service as deputy chairperson.

“ILGA has an important role to play as the administrative decision-making authority for liquor, registered club and gaming machine licensing decisions in NSW.

“An exhaustive selection process was undertaken for these new appointments in accordance with legislative requirements and including the engagement of an independent probity advisor.

“Chris Honey has brought significant expertise to the board since his appointment and Amelia Thorpe and Nicholas Nichles will bring their substantial experience, expertise and leadership to ILGA.”

ILGA chairperson Caroline Lamb said:

“Mr Honey joined the ILGA board earlier this year and has proven himself to be an invaluable board member with his energy and considerable skills and experience in the advisory and restructuring field.

“The ILGA board also welcomes A/Prof Thorpe and Mr Nichles to the board.

“People appointed to the ILGA board must be of the highest integrity and promote fair, transparent and efficient decision-making.”

MIL OSI News –

January 25, 2025
MIL-OSI USA: Senator Wicker Commends Dr. Darsey’s Appointment to Federal Board

US Senate News:

Source: United States Senator for Mississippi Roger Wicker
WASHINGTON – Today, U.S. Senator Roger Wicker, R-Miss., commended the appointment of Dr. Damon Darsey to the FirstNet Authority Board of Directors. Senator Wicker recommended Dr. Darsey to the Acting Associate Administrator of the Office of Public Safety Communications at the U.S. Department of Commerce and Secretary Gina Raimondo.
The Board of Directors provides oversight of FirstNet, which is a nationwide interoperable public safety broadband network designed to connect first responders across departments for large-scale disasters. The board is also responsible for providing FirstNet with overall policy direction and strategic guidance.
“Dr. Darsey has been a leader in public safety for Mississippi. For years, he has been engaged in the policy, development, technical, and political challenges around deploying a dedicated public safety network. His experience as the Medical Director for the Mississippi Department of Public Safety is a valuable asset to the board’s composition. I am confident he will continue to be an advocate for our communities and first responders,” Senator Wicker said.
Since 2010, Dr. Darsey has been the principal investigator of nearly $36 million of grants focusing on the clinical and academic interest of improving the communications, care, and coordination of first responders and in-field medical care.

MIL OSI USA News –

January 25, 2025
MIL-OSI China: EU tariffs on Chinese EVs spark widespread opposition

Source: China State Council Information Office

The European Union’s (EU) decision to impose definitive countervailing duties on Chinese-made electric vehicles (EVs) for a period of five years has sparked strong opposition, with China calling the move “unfair, unreasonable and unobjective.”

In a statement on Wednesday, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME), on behalf of the Chinese automotive industry, expressed “great regret” over the decision to impose anti-subsidy tariffs on electric vehicles originating in China.

Starting Wednesday, these tariffs will apply with varying rates for different companies: 17 percent for BYD, 18.8 percent for Geely, and 35.3 percent for SAIC. Other cooperating firms will be subject to a 20.7 percent duty, while non-cooperating companies will have a duty rate of 35.3 percent, according to the European Commission.

Following a substantiated request for an individual review, U.S. EV maker Tesla, which also manufactures vehicles in China, will face a duty of 7.8 percent, the commission noted.

The CCCME said the European Commission failed to rectify its “incorrect findings” in the final ruling on the imposition of definitive duties against Chinese EVs, and there was a serious lack of transparency in the procedure, adding that the move seriously violates relevant World Trade Organization (WTO) and EU anti-subsidy rules.

The China Association of Automobile Manufacturers (CAAM) also expressed disagreement with the decision in a statement on Wednesday. The decision, which is not objective and extremely unfair to China’s auto companies, is deemed unacceptable, the CAAM said.

The CAAM stressed that the imposition of tariffs not only violates the fundamental principles of free trade and fair competition, but also undermines cooperation between the Chinese and European automotive industries, as well as green and low-carbon transition.

Earlier on Wednesday, a Ministry of Commerce (MOC) spokesperson said China does not approve of or accept the European Commission’s decision to impose extra tariffs on Chinese EVs.

China has repeatedly pointed out that the EU’s anti-subsidy investigation into Chinese EVs is irrational, fraught with numerous non-compliance issues, and is a protectionist move under the guise of “fair competition,” the MOC said.

China has already appealed to the WTO’s dispute settlement mechanism over the issue, and will continue to take all necessary measures to safeguard the legitimate rights and interests of Chinese enterprises, the MOC spokesperson noted.

Chinese carmaker SAIC Motor, which has been slapped with a duty rate of 35.3 percent by the European Commission, said that it plans to file a lawsuit at the Court of Justice of the European Union challenging the decision.

According to the carmaker, the European Commission made errors in identifying subsidies during its probe, ignored key facts and arguments presented by SAIC, and inaccurately presumed subsidy rates for several items.

The company said that the extra tariffs will only raise costs for European car buyers and impede the widespread adoption of EVs, adding that it is taking steps to adapt to trade barriers, including intensifying efforts to introduce new car models with various power systems to the European market and expanding its product lineup under the MG brand.

NEW PHASE OF CONSULTATIONS

While announcing the imposition of duties on Tuesday, the European Commission said the EU and China are continuing to work toward finding alternative, WTO-compatible solutions that would be effective in addressing the problems identified by the investigation, adding that it remains open to negotiations on price undertakings.

Noting that the EU remains open to continuing discussions on price commitments for Chinese-made EVs, the MOC spokesperson said that China always advocates for resolving trade disputes through dialogue and consultation, and has made every effort to achieve this.

Currently, technical teams from both sides are engaged in a new phase of consultations. It is hoped that the European side will work constructively with China, follow the principles of “pragmatism and balance” and take into account each other’s core concerns, and strive to reach a mutually acceptable solution as soon as possible to avoid an escalation of trade frictions, according to the MOC.

The CAAM voiced the hope that both sides will continue to engage in dialogue and consultations to maintain the steady operations of global automotive industrial and supply chains.

The CCCME, meanwhile, has expressed the hope that the EU would approach the consultations with the utmost sincerity and reach a balanced solution acceptable to both sides as soon as possible.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Onions served at McDonald’s are likely source of E. coli outbreak in US: CDC

Source: China State Council Information Office

Fresh, slivered onions served on Quarter Pounders and other menu items from McDonald’s are the likely source of E. coli outbreak in the United States, said the U.S. Centers for Disease Control and Prevention (CDC) on Wednesday.

A total of 90 sicken cases caused by E. coli have been reported across 13 U.S. states as of Wednesday, including 15 new cases, according to latest CDC data.

Among these cases, 27 were hospitalized and one dead.

The CDC said more illnesses have been reported, but they are from before McDonald’s and Taylor Farms took action to remove onions from food service locations.

Due to the product actions taken by both companies, the CDC said it believes the risk to the public is very low.

E. coli are bacteria found in many places, including in the environment, foods, water, and the intestines of people and animals.

Most E. coli are harmless and are part of a healthy intestinal tract. But some E. coli can make people sick with diarrhea, urinary tract infections, pneumonia, sepsis, and other illnesses, according to the CDC.

MIL OSI China News –

January 25, 2025
MIL-OSI USA: October 30th, 2024 Heinrich Delivers Keynote Address at Veterans Business Summit

US Senate News:

Source: United States Senator for New Mexico Martin Heinrich
PHOTOS & VIDEOS
ALBUQUERQUE, N.M. — Today, U.S. Senator Martin Heinrich (D-N.M.), a member of the Senate Appropriations Committee, delivered a keynote address at the New Mexico Veterans Business Summit highlighting how investments in veteran-owned businesses have grown New Mexico’s economy and created jobs New Mexicans can build their families around.
Heinrich secured $50,000 through the Appropriations process for the New Mexico Veterans Business Advocates Expo to provide New Mexico’s veteran-owned businesses an opportunity to interact with potential partners, customers, and employees, supporting their success and growth.
Heinrich also highlighted his work to expand veterans’ benefits and access to the health care they’ve earned and deserve.

U.S. Senator Martin Heinrich (D-N.M.) delivers a keynote address at the New Mexico Veterans Business Summit, October 30, 2024.
“Small, locally-owned businesses — including veteran-owned businesses — are the beating hearts of our communities and backbone of our economy,” said Heinrich. “Our veterans leave their military service with unique skills and experience. I was proud to secure $50,000 in the 2024 Appropriations Bills to support the New Mexico Veterans Business Summit that is providing resources to help veteran-owned small businesses and military veterans looking for new career and entrepreneurial opportunities. I remain committed to supporting our state’s veterans and small business owners, lowering costs, growing our economy, and connecting New Mexicans to high-quality careers they can build their families around.”

U.S. Senator Martin Heinrich (D-N.M.) at the New Mexico Veterans Business Summit, October 30, 2024.
Heinrich remains unwavering in his commitment to provide the care and benefits that veterans deserve and have earned.
This year, the VA has served more veterans than ever before and provided more care and benefits to veterans who were exposed to toxins during their time in the military because of the successful implementation of the Honoring our Promise to Address Comprehensive Toxics (PACT) Act, bipartisan legislation that Heinrich helped lead as then-Chair of the Senate Appropriations Subcommittee on Military Construction, Veterans Affairs, and Related Agencies.
The PACT Act was signed into law in 2022 and has provided a record expansion of care and benefits for veterans. As a result, more veterans are filing claims and receiving their long overdue earned benefits, including disability compensation and GI Bill benefits.
Heinrich also recently passed legislation to protect veterans’ earned benefits and ensure the Department of Veterans Affairs (VA) is able to continue to pay disability compensation, surviving spouses and dependent compensation, pension, and education benefits to veterans, including nearly 70,000 New Mexicans.
Additionally, Heinrich recently announced the Senate Appropriations Committee’s bipartisan, unanimous passage of the Fiscal Year 2025 Military Construction, Veterans Affairs, and Related Agencies Appropriations Bill, which included $3.2 billion to expand programs providing critical services and housing for veterans and their families. Heinrich also fought to include key language to protect access to abortion for veterans in cases of rape, incest, and when the life of the mother is at risk, but the Committee did not ultimately include the provision.
In the Fiscal Year 2024 Military Construction, Veterans Affairs, and Related Agencies Appropriations Bill, Heinrich successfully advocated for major increases in funding to programs that support veterans in New Mexico and throughout the United States. He also successfully included key language to protect access to health care for veterans in New Mexico and nationally. Specifically, Heinrich secured increased funding to provide access to care for rural and Tribal veterans, transportation for rural veterans, rural health care for veterans, assistance to homeless veterans, construct state extended care facilities, improve veteran access to Suicide Prevention Coordinators, increase research on prosthetics and limb loss, and build on the work of neurology-related Centers of Excellence.
Additionally, in the Fiscal Year 2024 Transportation, Housing and Urban Development, and Related Agencies Appropriations Bill, Heinrich successfully ensured that funding was not cut from the Tribal HUD-VA Supportive Housing Program, which provides rental assistance and supportive services to Nativ

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Cassidy Discusses Infrastructure and Energy in Capital Region

US Senate News:

Source: United States Senator for Louisiana Bill Cassidy
BATON ROUGE –Today, U.S. Senator Bill Cassidy, M.D. (R-LA) hosted his final rural community funding summit of 2024, to connect elected leaders in the Capital Region with opportunities in the Infrastructure Investment and Jobs Act (IIJA) to improve roads, fix sewage and water problems, and reduce their risk of flooding.
“We have a partnership with mayors and other leaders in the Capital Region to use the Bipartisan Infrastructure Bill to meet the needs of this growing community,” said Dr. Cassidy. “Already we’re replacing gas lines in Donaldsonville and East Feliciana and reducing flood risk across the Baton Rouge area. This region is moving forward.”
Cassidy also discussed the IIJA before the West Baton Rouge Chamber of Commerce. Communities in the Capital Region have been major beneficiaries of the law. Just last week, Iberville Parish was awarded over $2.54 million and the village of Morganza over $1.87 million to upgrade their natural gas pipe systems. Additionally, Cassidy announced last October that the Louisiana Department of Transportation and Development received $88.3 million for Phase One of the LA 415 Interconnector Project, which would help fund the construction of highways and bridges and reduce traffic congestion in the Baton Rouge area, including in West Baton Rouge Parish.
Other major grant announcements for communities around Baton Rouge include over $10.4 million from the drinking water state revolving fund for the Livingston Ward 2 Water District and West Feliciana Parish, $30 million in 2023 and 2024 to replace aging gas pipes in the City of Donaldsonville, over $33 million for dredging and surveys along the Atchafalaya River and in Bayous Chene, Boeuf and Black, over $39 million for improvements to the Gulf Intracoastal Waterway, and $100 million to launch a manufacturing plant in St. Gabriel that will produce lithium hexafluorophosphate, which is necessary for batteries. Major highway projects are also being funded throughout the region.
At the rural community funding summit and the West Baton Rouge Chamber, Cassidy was welcomed by community leaders and thanked for his service.
“I appreciate Senator Cassidy coming to Gonzales to make sure that communities in Ascension Parish and throughout the region know how we can take advantage of his infrastructure bill,” said Mayor Ryland Percy, of Gonzales, Louisiana. “I also appreciate his work to protect the energy industry that keeps people here and throughout the parish. That’s the kind of leadership we need in Washington.”
“Thanks to Senator Cassidy, the people in West Baton Rouge Parish employed by our manufacturers and energy companies will be able to stay employed and make a life in this community,” said Ms. Anna Johnson, Executive Director of the West Baton Rouge Chamber of Commerce. “And his infrastructure bill will make it easier for them to get to work, to their kids’ school, and back home in the evening. We appreciate Senator Cassidy for making life easier and better for our neighbors.”
Later, Cassidy toured Turner Industries’ modular fabrication facility in Port Allen, from which they also transport modules. They build major modules (or components) for industrial facilities such as refineries and petrochemical plants, and then ship them to worksites for more efficient installation. Their facility is also being used to build modules for LNG plants that will process liquefied natural gas, to be delivered to the rest of the world while supporting jobs in Louisiana.
“Turner is building modules for the Venture Global plant,” said Dr. Cassidy. “They’re part of a job creating process that starts at the wellhead and ends at the LNG terminal, but along the way produces thousands of great paying Louisiana jobs.”
Turner’s Port Allen facility features a 415 Yard, which spans 35 acres, has a 24,000-square-foot module assembly building, and sits along 1,100 feet of intracoastal waterway in order to more easily ship modules. The 415 Yard is one of three similar facilities that Turner owns. As part of their module construction, they provide welding, blasting and painting, steel and pipe support fabrication, and specialty alloy work. Additionally, Turner has a pipe fabrication facility nearby, which is capable of producing more than 6,500 spools per month. Turner Industries provides its array of services in over 400 facilities across the nation.
Cassidy has also worked to protect Louisiana’s energy industry. On October 16, Cassidy convened the Louisiana Energy Security Summit in Baton Rouge, which brought together senior officials from previous Republican administrations and leaders in Louisiana’s energy industry and research community to discuss how to bring back manufacturing jobs to the United States by developing the state’s energy resources. Cassidy also introduced the Foreign Pollution Fee Act, which would improve U.S. trade policy to help Louisiana’s manufacturers counter the unfair competition they face from foreign adversaries like China.
There are over 400 employees at Turner’s Port Allen facility. In total, Turner has over 19,000 employees. Cassidy was thanked in advance for his work in a statement by Mr. Stephen Toups, CEO of Turner Industries.
“On behalf of the Turner team, we thank Senator Cassidy for visiting us in Port Allen today,” said Mr. Toups. “I am so glad that he got to meet the men and women who are constructing the modules for the Liquefied Natural Gas projects here in the state. Our state has supported so many energy projects for our country and for the world. Thanks to our employees, we are supporting the Senators vision to keep America energy independent, and to use that energy to produce jobs here at home. We look forward to working with the Senator as he writes laws that continue to make our work possible.”

MIL OSI USA News –

January 25, 2025
MIL-OSI: TORONTO-DOMINION BANK SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against The Toronto-Dominion Bank – TD

Source: GlobeNewswire (MIL-OSI)

NEW ORLEANS, Oct. 30, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until December 23, 2024 to file lead plaintiff applications in a securities class action lawsuit against The Toronto-Dominion Bank (“TD” or the “Company”) (NYSE: TD), if they purchased the Company’s securities between February 29, 2024 to October 9, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

Get Help

TD investors should visit us at https://claimsfiler.com/cases/nyse-td-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

TD and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On October 10, 2024, the Company disclosed resolutions reached from investigations by various U.S. Government entities into the Company’s anti-money laundering (“AML”) program compliance with the United States Bank Secrecy Act (“BSA”), which included a punitive payment of $3.09 billion, an asset cap preventing TD’s two U.S. subsidiaries from exceeding a collective $434 billion, and a “more stringent approval processes for new bank products, services, markets, and stores to ensure the AML risk of new initiatives is appropriately considered and mitigated.”

On this news, the price of TD’s shares fell from a closing price of $63.51 per share on October 9, 2024 to $59.44 per share on October 10, 2024, and further to $57.01 on October 11, 2024.

The case is Tiessen v. The Toronto-Dominion Bank, et al., No. 24-cv-08032.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

The MIL Network –

January 25, 2025
MIL-OSI Economics: ADB Says Climate Change Could Reduce GDP in Developing Asia and the Pacific by 17% by 2070

Source: Asia Development Bank

MANILA, PHILIPPINES (31 October 2024) — New Asian Development Bank (ADB) research finds the impacts of climate change could reduce gross domestic product (GDP) in developing Asia and the Pacific by 17% by 2070 under a high-end greenhouse gas emissions scenario, rising to 41% by 2100.

Rising sea levels and falling labor productivity would cause the greatest losses, with lower income and fragile economies hit hardest. The new research, presented in the inaugural issue of ADB’s Asia-Pacific Climate Report, details a series of damaging impacts threatening the region. If the climate crisis continues to accelerate, up to 300 million people in the region could be threatened by coastal inundation, and trillions of dollars of coastal assets could be damaged annually by 2070.

“Climate change has supercharged the devastation from tropical storms, heat waves, and floods in the region, contributing to unprecedented economic challenges and human suffering,” said ADB President Masatsugu Asakawa. “Urgent, well-coordinated climate action that addresses these impacts is needed before it is too late. This climate report provides insight into how to finance urgent adaptation needs and offers promising policy recommendations to governments in our developing member countries on how to reduce greenhouse gas emissions at lowest cost.”

The report finds that regional public sentiment supports climate action. In an ADB climate change perception study this year, 91% of respondents across 14 regional economies said they view global warming as a serious problem, with many seeking more ambitious government action.

Adaptation responses need to be accelerated to address growing climate risks, along with an imperative to greatly upscale adaptation-focused climate finance. The report values annual investment needs for regional countries to adapt to global warming at between $102 billion and $431 billion—far exceeding the $34 billion of tracked adaptation finance in the region in 2021–2022. Government regulation reforms and enhanced recognition of climate risks are helping attract new sources of private climate capital, but far greater private investment flows are needed.

On the mitigation front, the report shows the region is well placed to embrace renewable energy in driving a transition to net zero, and that forging ahead with domestic and international carbon markets can help achieve climate action goals cost effectively.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

MIL OSI Economics –

January 25, 2025
MIL-OSI Economics: Asia-Pacific Climate Report 2024: Catalyzing Finance and Policy Solution

Source: Asia Development Bank

The report highlights the region’s climate vulnerability, provides updated estimates of the potential impacts and costs of climate change, and proposes priority actions to accelerate adaptation progress. Policy options for governments to mobilize more private climate capital for both adaptation and mitigation are distilled. Finally, the report identifies how governments in the region can move toward more effective carbon pricing mechanisms to efficiently reduce emissions.

MIL OSI Economics –

January 25, 2025
MIL-Evening Report: Fit kids have better mental and physical health. What’s the best way to get them active?
Source: The Conversation (Au and NZ) – By Ben Singh, Research fellow, Allied Health & Human Performance, University of South Australia

Drazen Zigic/Shutterstock

The mental health benefits of exercise for adults are well known, easing depression and reducing anxiety.

Now, emerging research highlights its rising importance for children’s wellbeing. Staying active could be key to safeguarding and enhancing young people’s mental health.

Mood-boosting benefits

One in seven adolescents worldwide has a mental illness. As a result, parents and health-care providers are increasingly seeking effective prevention strategies.

Evidence is accumulating to suggest one surprisingly simple approach: physical fitness.

One recent study reveals even small improvements in fitness were linked to improved teen mental health. When adolescents improved their fitness by just 30 seconds on a running test, their risk of developing anxiety, depression, and attention-deficit hyperactivity disorder (ADHD) dropped by 7-8%.

This suggests something as straightforward as regular exercise could play a crucial role in protecting young people’s mental wellbeing.

For parents and health professionals looking to support adolescent mental health, encouraging participation in team sports could also be an especially effective strategy.

A study of more than 17,000 teenagers revealed a powerful link between sports and mental health: teens who participated in sports clubs were 60% less likely to experience depression compared to inactive kids.

This suggests team sports offer a unique environment for teens’ mental wellbeing, combining physical activity, social connection and structured routines.

Active kids do better in the classroom

Physical activity can also sharpen kids’ thinking and improve school performance: being active is associated with improvements in concentration, decision-making abilities, attention and academic performance.

Studies have also found positive links between physical activity and performance in maths and reading skills.

Even short ten-minute bouts of activity can have immediate positive effects on classroom performance.

Adding more physical activity to the school day — rather than cutting it for academic subjects — can not only boost students’ academic performance but also enhance their overall health and wellbeing.

Getting kids started with fitness and physical activity delivers myriad benefits.

Starting early: when and how

Age considerations

While there’s no one-size-fits-all approach, experts generally agree it’s never too early to encourage physical activity.

The World Health Organisation recommends children aged 3-4 should engage in at least 180 minutes of physical activity daily, with at least 60 minutes being moderate to vigorous intensity: activities that cause kids to huff and puff, such as running or playing sports.

For school-age children (five to 17 years), the recommendation is at least 60 minutes of moderate to vigorous physical activity daily, with activities that strengthen muscles and bones at least three times a week.

Getting started

The key to introducing fitness to children is to make it fun and age-appropriate. Here are some strategies:
1. Incorporate play: for younger children, focus on active play rather than structured exercise. Activities such as tag, hide-and-seek, or obstacle courses can be both fun and physically demanding.
2. Explore various activities: expose children to different sports and activities to help them find what they enjoy. This could include team sports, dance, martial arts, or swimming. Consider activities that are culturally relevant or significant to your family, as this can enhance their sense of belonging and interest.
3. Lead by example: children often mimic their parents’ behaviours, observing their actions. By being active yourself, you not only set a positive example but also encourage your children to do the same.
4. Make it a family affair: encourage physical activity by planning active family outings like hikes, bike rides, or trips to the park to foster a love of exercise in a fun and engaging way.
5. Limit screen time: Encourage outdoor play and physical activities as alternatives to sedentary screen time, fostering a healthier lifestyle and promoting wellbeing.
Potential risks and how to mitigate them

While the benefits of fitness for children are clear, it’s important to approach it safely. Some potential risks include:
1. Injuries from overexertion: children eager to push their limits can suffer from overuse injuries, such as sprains or strains. Encourage a variety of physical activities to prevent overuse injuries. Ensure adequate rest during training and competition, and promote proper a warm-up and cool-down.
2. Heat-related illness: children exercising in hot weather are at risk of heat exhaustion, with symptoms including dizziness and nausea. Emphasise hydration before, during and after exercise. Schedule activities during cooler times and provide shaded areas for breaks, teaching kids to recognise signs of overheating.
3. Improper technique and equipment: using incorrect form or inappropriate equipment can result in injuries and impede development. It’s essential to provide proper instruction, ensure equipment is size-appropriate, and supervise children during exercise. Programs should be designed to be safe and inclusive, accommodating children with disabilities, ensuring everyone can participate meaningfully without barriers.
4. Burnout: excessive exercise or pressure to perform can cause physical and mental burnout. This can lead to a loss of interest. To prevent burnout, it is important stick to national and international activity recommendations, ensure adequate rest, and encourage a balance between structured exercise and free play.
A love for movement and activity

The evidence is clear: fit kids are happier, healthier, and better equipped to handle life’s challenges.

By introducing fitness early and in an engaging, age-appropriate manner, we can set children on a path to lifelong physical and mental wellbeing.

Remember, the goal is to foster a love for movement and activity that will serve children well into adulthood.

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. Fit kids have better mental and physical health. What’s the best way to get them active? – https://theconversation.com/fit-kids-have-better-mental-and-physical-health-whats-the-best-way-to-get-them-active-242102
MIL OSI Analysis – EveningReport.nz –
January 25, 2025
MIL-Evening Report: Trump’s slight lead in Pennsylvania could give him Electoral College win; Biden a drag on Harris

Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

The United States presidential election will be held next Tuesday, with results coming in Wednesday AEDT. In analyst Nate Silver’s aggregate of national polls, Democrat Kamala Harris leads Republican Donald Trump by 48.6–47.5, a slight gain for Trump since Monday, when Harris led by 48.6–47.4. Harris’ national lead peaked on October 2, when she led by 49.4–45.9.

The US president isn’t elected by the national popular vote, but by the Electoral College, in which each state receives electoral votes equal to its federal House seats (population based) and senators (always two). Almost all states award their electoral votes as winner-takes-all, and it takes 270 electoral votes to win (out of 538 total).

Relative to the national popular vote, the Electoral College is biased to Trump, with Harris needing at least a two-point popular vote win to be the narrow Electoral College favourite in Silver’s model.

In Silver’s averages, Trump has a 0.6-point lead in Pennsylvania (19 electoral votes), up from 0.3 on Monday. Trump has slightly larger leads of one to two points in North Carolina (16), Georgia (16) and Arizona (11). Harris is narrowly ahead by 0.1 point in Nevada (six) and about one point ahead in Michigan (15) and Wisconsin (ten).

If current polls are exactly right, Trump wins the Electoral College by 281–257. Not making Pennsylvania’s popular governor Josh Shapiro her running mate could be Harris’ biggest mistake.

In Silver’s model, Trump has a 54% chance to win the Electoral College, slightly higher than 53% on Monday. There’s a 29% chance that Harris wins the popular vote but loses the Electoral College. The FiveThirtyEight forecast gives Trump a 51% win probability.

Without a major event, there isn’t likely to be much change in the polls before the election, but a polling error where one candidate overperforms their polls could still occur. Silver’s model gives Trump a 22% probability of sweeping the seven swing states and Harris a 12.5% probability.

I wrote about the US election for The Poll Bludger yesterday, and also covered three Canadian provincial elections and Japan’s conservative LDP, which has governed almost continuously since 1955, losing its majority at an election last Sunday.

Biden a drag on Harris and favourability ratings

Joe Biden remains unpopular with a net -16.5 approval in the FiveThirtyEight national aggregate, with 55.8% disapproving and 39.3% approving. As Harris is the incumbent party’s candidate, an unpopular president is a key reason for Trump’s edge.

Biden’s remarks on Tuesday, in which he seemed to call Trump supporters “garbage”, resembled Hillary Clinton’s “basket of deplorables” in the 2016 presidential campaign. This won’t help Harris.

Biden is almost 82, Trump is 78 and Harris is 60. Trump’s age should be a factor in this election that favours Harris, but Silver said on October 19 that Democrats spent so much time defending Biden before he withdrew on July 21 that it’s now difficult for them to attack Trump’s age without seeming hypocritical.

Harris’ net favourability in the FiveThirtyEight national aggregate is -1.5, with 47.8% unfavourable and 46.3% favourable. Her net favourability peaked at +1 in late September. Trump’s net favourability is -8.5 with 52.1% unfavourable and 43.6% favourable; his ratings have improved a little in the last two weeks.

While Harris is more likeable than Trump, that’s not reflected in head to head polls. Silver said on October 23 that Trump’s campaign is promoting him as not-nice, but on your side, and as someone who will get things done. They argue Harris’ campaign lacks clear policies.

Harris’ running mate Tim Walz is at +2.6 net favourable, while Trump’s running mate JD Vance is at -6.9 net favourable. In the past few weeks, Vance’s ratings have improved slightly while Walz’s have dropped back.

Congressional elections

I last wrote about the elections for the House of Representatives and Senate that will be held concurrently with the presidential election on October 14. The House has 435 single-member seats that are apportioned to states on a population basis, while there are two senators for each of the 50 states.

The House only has a two-year term, so the last House election was at the 2022 midterm elections, when Republicans won the House by 222–213 over Democrats. The FiveThirtyEight aggregate of polls of the national House race gives Democrats a 46.2–46.1 lead over Republicans, a drop for Democrats from a 47.1–45.9 Democratic lead on October 14.

Senators have six-year terms, with one-third up for election every two years. Democrats and aligned independents currently have a 51–49 Senate majority, but they are defending 23 of the 33 regular seats up, including seats in three states Trump won easily in both 2016 and 2020: West Virginia, Montana and Ohio.

West Virginia is a certain Republican gain after the retirement of former Democratic (now independent) Senator Joe Manchin at this election. Republicans have taken a 5.4-point lead in Montana in the FiveThirtyEight poll aggregate, while Democrats are just 1.6 points ahead in Ohio.

Republicans are being challenged by independent Dan Osborn in Nebraska, and he trails Republican Deb Fischer by 2.3 points. Democrats did not contest to avoid splitting the vote. In Democratic-held Wisconsin, Democrats lead by 2.1 points, while other incumbents are ahead by at least three points.

If Republicans gain West Virginia and Montana, but lose Nebraska to Osborn, and no other seats change hands, Republicans would have a 50–49 lead in the Senate. If Harris wins the presidency, Osborn would be the decisive vote as a Senate tie can be broken by the vice president, who would be Walz. This is the rosiest plausible scenario for Democrats.

The FiveThirtyEight congressional forecasts give Republicans a 53% chance of retaining control of the House, so it’s effectively a toss-up like the presidency. But Republicans have an 89% chance to gain control of the Senate.

Adrian Beaumont 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. Trump’s slight lead in Pennsylvania could give him Electoral College win; Biden a drag on Harris – https://theconversation.com/trumps-slight-lead-in-pennsylvania-could-give-him-electoral-college-win-biden-a-drag-on-harris-242393

MIL OSI Analysis – EveningReport.nz –

January 25, 2025
MIL-OSI China: EU tariffs on Chinese EVs face backlash

Source: China State Council Information Office

China does not acknowledge or accept the European Union’s final ruling to impose additional tariffs on electric vehicles manufactured in the Chinese market, the Ministry of Commerce said on Wednesday, vowing to take all necessary measures to protect the interests of companies.

The European Commission, the EU’s executive arm, announced on Tuesday the conclusion of its anti-subsidy investigation, resulting in the imposition of definitive countervailing duties on EVs produced in China. The measures will expire at the end of a five-year period unless an expiration review is initiated before that date, the commission said in a news release.

In response, China has filed a complaint under the World Trade Organization’s dispute settlement mechanism.

China has repeatedly pointed out that the EU’s anti-subsidy investigation into EVs manufactured in China is irrational and fraught with numerous noncompliance issues, and is a protectionist move under the guise of “fair competition”, the Ministry of Commerce said in an online statement.

Noting that the EU is still willing to continue talks on price commitments for Chinese-made EVs, the ministry said that China always advocates the resolution of trade disputes through dialogue and consultation.

The EU’s new tariffs will range from 7.8 percent for the Chinese output of United States EV maker Tesla Inc, to 18.8 percent for Zhejiang Geely Holding Group, and up to 35.3 percent for Shanghai-based carmaker SAIC Motor Corp, in addition to the EU’s existing 10 percent duty on imported cars.

Other Chinese EV manufacturers face an average tariff of 20.7 percent, with rates reaching up to 35.3 percent for those classified as “noncooperative”.

SAIC Motor expressed disappointment on Wednesday with the decision and said that it plans to pursue necessary legal action by filing a lawsuit with the Court of Justice of the European Union to ensure its legitimate rights and interests.

The Chinese automaker said that it is implementing a series of measures to strengthen its resilience against the EU’s trade barriers.

These tariffs on Chinese, European and US EV producers operating in China neither enhance the EU’s resilience in EV manufacturing nor promote innovation or job creation. Instead, they represent a politically motivated approach, the Brussels-based China Chamber of Commerce to the EU said on Wednesday.

Market watchers warned that these additional tariffs will likely intensify trade friction between China and the EU, and may trigger a global rise in trade protectionism within the automotive industry.

Zhang Yongjun, secretary-general of the China Center for International Economic Exchanges in Beijing, said that based on the principle of reciprocity, the EU’s decision will inevitably trigger countermeasures, potentially having an impact on competitive EU export industries that trade with China.

“Under such circumstances, European consumers may suffer, facing either increased costs for Chinese EVs or limited options from alternative suppliers,” he added.

Wei Jianguo, former vice-minister of commerce, said that the EU’s move could weaken Chinese investors’ confidence in Europe, especially those in the automobile, power battery, industrial parts and logistics industries.

Erik Solheim, former executive director of the United Nations Environment Program, told China Daily on Wednesday: “Tariffs on superior Chinese electric cars go contrary to all economic wisdom. It will make us all poorer and slow down the green transformation in Europe.

“Green competition is a race to the top, tariffs and protectionism is a race to the bottom. Europe should invite investments from BYD and all the other Chinese car makers to help share technology and help shape competition so that European car makers can catch up.”

Also on Wednesday, Foreign Minister Wang Yi reiterated China’s opposition to the EU’s tariff measure. The move clearly violates WTO rules and contradicts the principles of free trade, Wang said while meeting in Beijing with Finnish Foreign Minister Elina Valtonen.

China has always believed that openness leads to progress while protectionism has no future, and universally beneficial and inclusive economic globalization serves the interests of all parties, Wang added.

Believing that dialogue is the best path forward, Chen Huiqing, head of the legal service branch at the Beijing-based China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said that talks remain the most effective way to prevent the escalation of bilateral economic and trade tensions.

Currently, technical teams from both sides are engaged in a new phase of consultations, according to the Ministry of Commerce.

MIL OSI China News –

January 25, 2025
MIL-OSI Economics: ADB’s $80 Million Project to Enhance Access and Quality of Secondary Education in Cambodia

Source: Asia Development Bank

PHNOM PENH, CAMBODIA (31 October 2024) — The Asian Development Bank (ADB) approved an $80 million loan to enhance secondary education in Cambodia, spotlighting “21st century” skills like critical and creative thinking, inclusive teaching for boys and girls, and expanding pathways to post-secondary education. The Secondary Education for Human Capital Competitiveness Project will expand the number of inclusive climate-resilient school facilities—including an additional 400 classrooms—to address classroom overcrowding and expand access to quality upper secondary education.

“Cambodia needs to accelerate the shift to higher value-added economic activities, especially those driven by technology, to remain globally competitive and consolidate its remarkable economic progress in the recent past,” said ADB Country Director for Cambodia Jyotsana Varma. “A skilled and educated workforce is a prerequisite for this to happen. Building on ADB’s ongoing investments in education and skills development, this project aims to maximize the potential of Cambodia’s young population to drive future economic growth.”

Net enrollment in upper secondary education remains low in Cambodia at 35.5% due to factors such as inadequate school facilities and economic constraints, especially for boys who are expected to contribute to their household income. Teachers require additional training and support to develop in-demand skills and competencies in students. Moreover, students with special education needs face even greater barriers to quality secondary education.

The project will improve access to education, especially for students with learning disabilities by developing assistive technology and supporting special education secondary schools. The project will promote education in science, technology, engineering and math (STEM) subjects to prepare a future cohort of workers possessing skills aligned with industry demand. To the same end, the project will seek to develop soft skills like communication, collaboration, and critical and creative thinking in students. The project will invest in improving professional development of teachers to encourage project-based teaching that incorporates group work, real-world problem solving, and community engagement. It will also review and strengthen the grade 12 national examination to better reflect the modernized curriculum, as well as develop fast-track courses in priority fields—like digital economy and applied mathematics—that aim to strengthen the pipeline of skilled human resources.

The project is a key component of ADB’s support for the government to enhance human capital development. It aligns with the government’s pentagonal strategy for growth, employment, equity, efficiency and sustainability, as well as ADB’s country partnership strategy for Cambodia, 2024–2028.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

MIL OSI Economics –

January 25, 2025
MIL-OSI Russia: VK Coworking Zone Opens at NSU

Translation. Region: Russian Federation –

Source: Novosibirsk State University – Novosibirsk State University –

The new study and recreation area is located in the university’s academic building (Pirogov, 1) in block 1 on the 1st floor. The opening of the coworking area was attended by the dean Faculty of Information Technology, Doctor of Physical and Mathematical Sciences, Professor Mikhail Mikhailovich Lavrentyev and VK Ambassador Elizaveta Zhitnik.

— This is the first example of an IT company creating a workspace for our faculty. What I want to say is, it is incredibly beautiful! It depends only on you how beautiful and useful this area will remain. Guys, this is yours and it is for your comfort, all conditions have been created here. Friends, this is a window of opportunity! Sitting here on the couch, you will directly feel involved in one of the flagships of the IT business of our country. The faculty does not stop here, we are moving forward and we expect that together with you we will maintain this place in the same wonderful condition, — Mikhail Lavrentyev emphasized, addressing the students.

The Dean promised that this is not the last coworking area at the Faculty of Information Technology.

— VK has created a convenient place for NSU students to study and work. The new coworking space has everything they need. The area is designed so that they can do group and individual work. I am sure that students will be able to spend time here usefully, create new projects and just relax, — noted VK ambassador, third-year student of the NSU Faculty of Information Technology Elizaveta Zhitnik.

VK has been cooperating with the NSU Faculty of Information Technology in various areas for a long time: it acts as a partner of the faculty’s events, offers students the opportunity to take part in free educational projects of VK Education and provides the opportunity to complete internships in in-demand IT and digital specialties.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

January 25, 2025
MIL-OSI China: US GDP grows at annual rate of 2.8% in Q3

Source: China State Council Information Office

The U.S. GDP grew at an annual rate of 2.8 percent in the third quarter of this year, the U.S. Department of Commerce reported in an advance estimate released Wednesday.

In the second quarter, real GDP rose 3.0 percent, according to the department’s Bureau of Economic Analysis (BEA).

The increase in real GDP in the third quarter primarily reflected increases in consumer spending, exports and federal government spending. Imports, a subtraction in the calculation of GDP, increased.

The report noted that the slowdown in real GDP growth in the third quarter, compared to the second quarter, primarily reflected a downturn in private inventory investment and a larger drop in residential fixed investment.

These declines were partly offset by accelerations in exports, consumer spending and federal government spending, while imports also rose.

Disposable personal income rose by 3.1 percent in the third quarter, down from a 5.0 percent increase in the second quarter, suggesting potential weakness in future consumption.

Real disposable personal income, adjusted for taxes and inflation, grew by 1.6 percent, down from a 2.4 percent increase in the previous period.

The newly released GDP estimate for the third quarter is based on incomplete source data that may be revised by the BEA, the report said. The second estimate for the third quarter, based on more complete source data, will be released on Nov. 27.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Sino-French agricultural trade cooperation center unveiled

Source: China State Council Information Office

The Guangdong-Hong Kong-Macao Greater Bay Area Agricultural Produce Trading Center was inaugurated on Tuesday in Guangzhou, capital of south China’s Guangdong Province, marking a new chapter in Sino-French agricultural trade cooperation.

The joint endeavor was launched by China’s KINGOLD Group and France’s Rungis International Market, and is set to become the largest “vegetable basket” project in the region, aiming to bring high-quality French farm products directly to Chinese consumers.

Located in Guangzhou’s Baiyun District, the center spans an area of 2,000 mu (approximately 133 hectares), with its first phase covering over 910,000 square meters.

The complex will feature multi-level trading centers, a global food showcase center, a smart cold chain center, urban distribution hubs and an international exhibition center, catering to such products as fresh produce, imported ingredients, seafood and cut flowers. Its first phase is expected to host more than 2,000 vendors.

“The trading center will serve as a one-stop, high-quality procurement platform with an expected annual turnover exceeding 100 billion yuan (about 14 billion U.S. dollars),” said Zhou Zerong, chairman of KINGOLD Group.

According to Zhou, Rungis’ well-established management and operational expertise will contribute to an internationally oriented platform with standards that can facilitate the global flow of premium Chinese and French products.

Rungis International Market, known worldwide for its sophisticated food safety management and logistics systems, signed a close cooperation agreement with KINGOLD Group in April 2024.

Sylvain Fourriere, consul general of France in Guangzhou, said that the center will not only meet local needs but will also be an international hub for agricultural products, connecting the Greater Bay Area to global supply chains. It will launch a new era for agri-food trade, setting high standards in quality, sustainability and logistics.

“Among our strengths of cooperation, agri-food is a sector where our two countries share complementary expertise and know-how, as well as a real passion for gastronomy, particularly in the province of Guangdong,” Fourriere said.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Upcoming CIIE bringing benchmark tech to China

Source: China State Council Information Office

Exhibitors to the 7th CIIE introduce their products during a preparatory meeting in July. [Photo/Xinhua]

The China International Import Expo will continue to cement its status as the global launchpad for new products, technologies and services, attracting a growing number of companies eager to capitalize on the immense potential of the Chinese market and grow a global network of collaborative partners.

This year’s expo, the seventh edition to be held in Shanghai from Nov 5 to 10, will feature the debut of more than 400 representative new products, technologies and services across a wide range of cutting-edge sectors, including high-end equipment, advanced materials, marine engineering, biotechnology and innovative agricultural technologies.

The speed at which exhibited products have been converted into top-selling items has exceeded the expectations of many participants, while the event’s ability to connect global companies with prospective partners has grown tremendously, said Bai Ming, a researcher with the Chinese Academy of International Trade and Economic Cooperation.

Intuitive Fosun, a robotics-assisted medical device manufacturer founded by US company Intuitive Surgical and Shanghai-based Fosun Pharma, will showcase a new transcranial magnetic resonance guided ultrasound device during the event.

This innovative technology is poised to provide noninvasive surgical treatment options for Parkinson’s disease, which is difficult to manage with medication alone, said Wu Yifang, chairman of Fosun Pharma.

Exhibiting at the CIIE allows businesses to leverage favorable policies and incentives to aid in the introduction and commercialization of their new products and technologies, Wu said.

The company’s ion robotic bronchoscopy, a robotics-assisted minimally invasive biopsy system first showcased at the CIIE in 2019, has now received regulatory approval and entered commercial deployment after a rigorous review process.

The CIIE has not only helped streamline the overall process of bringing innovative products to market, but has also created numerous opportunities for companies to drive their continued expansion in China, Wu added.

China’s substantial imports of a wide range of products, from premium consumer goods to advanced equipment, have also served to satisfy the needs of both industrial and consumption upgrades, said Xu Hongcai, deputy director of the China Association of Policy Science’s Economic Policy Committee.

China’s imports climbed 4.1 percent year-on-year to 13.71 trillion yuan ($1.92 trillion) in the first three quarters, said the General Administration of Customs.

The debut of groundbreaking new products and technologies during the CIIE has also enabled participants to forge valuable collaborative partnerships.

The CIIE is a great platform that fosters global collaboration and opens new opportunities in the Chinese market. Six consecutive years of participation reflects German pharmaceutical company Boehringer Ingelheim’s confidence in driving accelerated innovation in China, said Mohammed Tawil, president and CEO of Boehringer Ingelheim Greater China.

“We aim to leverage the CIIE to advance various partnerships on open innovation. While advancing our own growth, we are focused on contributing to China’s high-quality development and deepening cooperation on innovation between China and the rest of the world,” Tawil said.

MIL OSI China News –

January 25, 2025
MIL-OSI China: EU’s protectionist tariffs on Chinese EVs face backlash from industry, officials

Source: China State Council Information Office 3

The European Commission on Tuesday announced the imposition of anti-subsidy tariffs on Chinese-made electric vehicles (EVs), a decision that has sparked strong opposition from within the EU and key industry stakeholders.

Starting Wednesday, these tariffs will remain in place for five years with varying rates: 17 percent for BYD, 18.8 percent for Geely, and 35.3 percent for SAIC, among China’s leading automakers.

Additional firms that cooperated in the investigation will be subject to a 20.7-percent duty, while non-cooperative companies will incur the maximum 35.3-percent rate, according to the commission’s statement.

Despite this decision, the European Commission noted that the EU and China are still exploring alternative measures within WTO guidelines to address trade concerns.

The decision has sparked widespread discontent among EU member states and industry stakeholders alike. Critics argue that such tariffs could burden European consumers, strain EU-China trade and investment ties, hinder Europe’s transition to a greener automotive sector, and ultimately undermine global efforts to mitigate climate change.

Germany’s economy ministry reaffirmed its commitment to “open markets,” underscoring the country’s reliance on global trade networks and calling for continued negotiations with China to ease tensions while protecting EU industries.

Slovakia, a dissenting voice in the October vote, opposed the tariff increase. Prime Minister Robert Fico noted that China is “20 years ahead of us when it comes to EVs,” cautioning that heightened trade barriers could ultimately harm Europe more than China.

Industry leaders in the automotive sector echoed these concerns. Hildegard Muller, president of the German Association of the Automotive Industry, criticized the tariffs as a “step backwards for global free trade,” warning of potential job losses, stunted economic growth, and weakened market prosperity, along with further trade disputes.

“The door for negotiations remains open. This is the only positive news today,” she said, urging sustained efforts toward open negotiations.

Major European automakers, including Volkswagen, BMW, and Mercedes-Benz, voiced a unified stance against the tariffs, advocating for open markets that support fair competition.

BMW CEO Oliver Zipse warned that the tariffs could “harm the business model of globally active companies, limit the supply of electric cars to European customers and thus slow down decarbonization in the transport sector.”

Michael Schumann, chairman of the Board of the German Federal Association for Economic Development and Foreign Trade, criticized the tariffs as counterproductive, arguing that they contradict Europe’s objectives of promoting electric mobility and advancing climate protection.

“The transition to electric mobility is a cornerstone of climate protection, and we need to support and advance that transition,” Schumann told Xinhua.

Experts have also weighed in, highlighting broader geopolitical influences. Boyan Chukov, a former foreign policy advisor to Bulgaria’s Prime Minister, argued that the United States is leveraging the EU in its economic competition with China.

“China is one of the countries most compliant with environmental regulations. In this regard, it stands as an example for other countries to follow,” he said, adding that the additional tariffs are driven by “political imperatives.”

Liang Guoyong, a senior economist with the United Nations Conference on Trade and Development, described the EU tariffs as “counterproductive.”

He noted that protective and restrictive trade measures on green products, such as EVs, conflict with global efforts to reduce carbon emissions and could increase costs for European consumers.

“Imposing these tariffs would only undermine the economic interests of both importers and exporters and threaten global climate change progress,” Liang warned.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Microsoft reports Q1 results

Source: China State Council Information Office 3

Microsoft on Wednesday posted a revenue of 65.6 billion U.S. dollars for the first quarter of its 2025 fiscal year ending Sept. 30, 2024, up 16 percent from the same period of the previous year.

The company generated quarterly net profits of 24.7 billion dollars, an increase of 11 percent year on year. Diluted earnings per share were 3.3 dollars, up 10 percent, compared to the same period a year ago.

Its operating income was 30.6 billion dollars, an increase of 14 percent from the same period last year, Microsoft said in its financial report.

The company’s revenue in Productivity and Business Processes was 28.3 billion dollars, an increase of 12 percent; its revenue in Intelligent Cloud was 24.1 billion dollars, up 20 percent; and its revenue in More Personal Computing was 13.2 billion dollars, increasing 17 percent.

Microsoft returned 9.0 billion dollars to shareholders in the form of share repurchases and dividends in the first quarter of fiscal 2025.

“AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process,” said Satya Nadella, chairman and chief executive officer of Microsoft. “We are expanding our opportunity and winning new customers as we help them apply our AI platforms and tools to drive new growth and operating leverage.”

“Strong execution by our sales teams and partners delivered a solid start to our fiscal year with Microsoft Cloud revenue of 38.9 billion dollars, up 22 percent year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

MIL OSI China News –

January 25, 2025
MIL-OSI New Zealand: Ecological projects get a boost in Upper Harbour
Source: Auckland Council

More than $500,000 has been committed to ecological projects by the Upper Harbour Local Board.

The funding covers a cross-section of projects ranging from community-led ecological projects, construction waste education to industrial pollution prevention and the Waiarohia Stream restoration.

Chair Anna Atkinson says funding to provide an increased level of service in the Albany Library which isn’t needed this financial year has been reallocated to other projects.

“We are fortunate to have a community that is passionate about the environment – enhancing and protecting it, and we can work alongside them to safeguard our special areas,” she says.

“Much of what we have funded is designed to take action this financial year and we remain committed to helping our volunteers lead restoration and conservation efforts in their own communities.”

The Upper Harbour Local Board Local Environmental Work Programme includes:
- Upper Harbour Ecological Initiatives – $264,806
- Waiarohia Stream restoration – $93,500
- Industry Pollution Prevention Programme – $65,115
- Construction Waste Education and Leadership – $41,000
- Local Streams (Sustainable Schools) – $32,000
- Īnanga spawning habitat restoration – $26,000
- Te Ao Māori and community-led conservation – $5,000
Funding for Upper Harbour Ecological Initiatives enables multiple ecological projects to be delivered by the community including pest animal and plant control, implementing the pest management strategy, biodiversity monitoring, and restoration planting on private land which are high value ecological sites.

Local schools can continue the planting programme at Waiarohia Stream which began three years ago. It’s a massive undertaking creating a plant corridor for native birds and insects between Hobsonville and Whenuapai.

Atkinson says, “The plants are doing well but only nine per of the stream edge is planted. This is a long-term commitment, and we have doubled our investment in this project which is going to be great for Whenuapai which has very little tree cover and the goal is 30 per cent tree cover across Auckland.”

Businesses are being helped to reduce industrial pollution risks to waterways and the Waitematā Harbour. One hundred businesses will be visited in Rosedale and the new industrial area on Hobsonville Road is also part of the programme.

“There are site inspections and practical recommendations for the businesses involved and they also understand what they must do if something goes wrong,” says Atkinson.

With construction and demolition waste the single biggest contributor of waste in Auckland, and the scale of development in Hobsonville, the programme focusses on this area. The construction and demolition waste advisor works with builders and developers to improve site practices and compliance including the installation of silt and security fences.

Read the full report in the Upper Harbour Local Board Meeting agenda on 24 October 2024 at infocouncil.govt.nz (item 12)

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MIL OSI New Zealand News –
January 25, 2025
MIL-Evening Report: Maria Anna Mozart was a musical prodigy overshadowed by her brother. A new documentary tells her story

Source: The Conversation (Au and NZ) – By Diane Charleson, Senior Lecturer in media School of Arts Australian Catholic University, Australian Catholic University

Alina Gozin’a

Award-winning director Madeleine Hetherton-Miau’s latest offering is an evocative and hard-hitting documentary with a strong message. Mozart’s Sister investigates the life of Maria Anna Mozart, the older sister of the more famous Wolfgang Amadeus Mozart.

The film portrays a sensitive and well-researched investigation into Maria Anna’s life – illuminating how the draconian attitudes that prevailed during her time condemned her to a lesser life than her brother, even though she was similarly talented.

It also reminds us of the importance of championing women musicians today, as “if we don’t encourage women now, it (discrimination) only repeats”.

Who was Maria Anna Mozart?

Maria Anna was the first-born child of Leopold Mozart. He himself was a musician and composer and had his daughter schooled in music from a very young age.

Maria showed amazing talent – a child prodigy in playing and composing. When Wolfgang was born, he quickly became engrossed in playing and composing music with his sister.

Mozart’s Sister features wonderfully poignant recreations of this childhood bond over music – emphasising the siblings’ playfulness and engagement with music in a noncompetitive way.

Leopold recognised his children’s prodigious talents. He soon had them travelling and playing concerts all over Europe, where they were lauded by the highest aristocracy. Maria Anna and Wolfgang were inseparable during this time and composed many works together.

Maria Anna and Wolfgang composed many works together.
Madeleine Hetherton-Miau

Women musicians in the 18th century

But all of this came to an abrupt end with Maria Anna turned 15. As custom would dictate, it was considered unsuitable and unseemly for a girl of that age to perform in public, likening this form of public performance to that of a prostitute.

The film portrays the unfortunate fate that befell many 18th-century women who wanted to pursue a career in music. Regardless of their aptitude, these women would have no real career prospects. They were even banned from playing musical instruments deemed unseemly, including the violin and cello.

Composing and playing music was largely taken up by the nuns in monasteries. As Mozart’s Sister highlights, even though this was a time of enlightenment, this “enlightenment” was reserved for men – and white men at that. It definitely didn’t flow on to women.

Maria Anna was forced to stay home while Wolfgang continued pursuing music uninterrupted – and the rest is history.

Maria Anna’s musical talents weren’t encouraged the way her younger brother’s were.
Shannon Ruddock

The film ponders what it must have been like for her to be left at home, away from her brother (who was once her constant companion) and unable to play as she used to. Her life is poignantly illustrated through her diary entries, which are mainly filled with references to the weather, as though nothing else was happening for her.

Maria Anna eventually married, but continued to practice music each day. Upon her husband’s death – now a woman of means and a baroness in her 50s – she returned to solo concert performances.

A documentary on two levels

Mozart’s Sister is a documentary that functions on many levels.

On one level, it’s a biopic that portrays Maria Anna’s story through recreations of her childhood in Austria, with a voiceover narration and interviews highlighting her relationship with her brother. Much is shot on location in Austria and framed through the perspective of present-day museum curators and experts.

On another level, the film is a broader statement on the underrepresentation of female composers. I thought the director did an excellent job in portraying this duality through the juxtaposition of Maria Anna’s with the young British composer Alma Deustger. Deustger displayed many of the characteristics we could imagine Maria Anna having.

Like Maria Anna, Deustger is a brilliant modern-day composer with a deep appreciation for for composing and conducting. But unlike Maria, she has been able to pursue her passion and turn it into a career. I was particularly struck by the film’s closing, in which Deustger discusses writing her waltz based on the police sirens of New York.

Mozart’s Sister follows in a recent literary trend of discussions of appropriation – and of the overlooking of talented women in history who have been overshadowed by their more famous male counterparts. Anna Funder’s Wifedom and Hernan Diaz’s Pulitzer Prize-winning book Trust are two other examples of this.

It is an interesting and provocative film that will appeal to classical music lovers, as well as those interested more broadly in the issue of female underrepresentation in the arts.

Mozart’s Sister is in cinemas from today.

Diane Charleson 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. Maria Anna Mozart was a musical prodigy overshadowed by her brother. A new documentary tells her story – https://theconversation.com/maria-anna-mozart-was-a-musical-prodigy-overshadowed-by-her-brother-a-new-documentary-tells-her-story-241794

MIL OSI Analysis – EveningReport.nz –

January 25, 2025

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