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Category: Business

  • MIL-OSI USA: Huizenga Announces Federal Affordable Housing Funding for Battle Creek, Benton Harbor, Holland, Kalamazoo, and Portage Through HUD

    Source: United States House of Representatives – Congressman Bill Huizenga (MI-02)

    Today, Congressman Bill Huizenga announced that communities across Southwest Michigan will receive federal funding from the Fiscal Year 2025 appropriations legislation.  Specifically, the communities of Battle Creek, Benton Harbor, Holland, Kalamazoo, and Portage will receive federal funding from the Department of Housing and Urban Development (HUD) through Community Development Block Grants (CDBG).  CDBG provides annual grants on a formula basis to states, cities, and counties to develop viable urban communities by improving housing and providing a better living environment. Additionally, CDBG expands economic opportunity, principally for low- and moderate-income residents.

    Furthermore, the communities of Battle Creek and Kalamazoo will receive federal funding through the HOME Investment Partnerships Program. The HOME Investment Partnerships Program provides formula grants to states and localities that communities use – often in partnership with local nonprofit groups – to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people. HOME is the largest federal block grant to state and local governments designed exclusively to create affordable housing for low-income households.

    “I am glad to see the Trump Administration prioritize the communities of Battle Creek, Benton Harbor, Holland, Kalamazoo, and Portage,” said Congressman Bill Huizenga. “This funding will improve housing affordability as well as increase economic opportunity for lower and moderate-income families across Southwest Michigan.”

    CDBG Funding Allocations

    Battle Creek              $1,205,390   

    Benton Harbor          $382,893

    Holland                      $333,432

    Kalamazoo                $1,583,632   

    Portage                      $209,148

    HOME Funding Allocations

    Battle Creek              $254,254

    Kalamazoo                $456,817

    The State of Michigan also received a direct allocation totaling $34,090,474 for CBDG and $16,080,261 for HOME. This funding is on top of the funding distributed to municipalities across Michigan.

    Here is the full list of Michigan communities who recently received funding through the Department of Housing and Urban Development:

    Battle Creek, Bay, Benton Harbor, Canton Twp, Clinton Twp, Dearborn, Dearborn Heights, Detroit, East Lansing, Farmington Hills, Flint, Genesee County, Grand Rapids, Holland, Jackson, Kalamazoo, Kent County, Lansing, Lincoln Park, Livonia, Macomb County, Midland, Monroe, Muskegon, Muskegon Heights, Niles, Norton Shores, Oakland County, Pontiac, Port Huron, Portage, Redford, Roseville, Royal Oak, Saginaw, Southfield, St Clair Shores, Sterling Heights, Taylor, Traverse City, Warren, Washtenaw County, Waterford Township, Wayne County, Westland, and Wyoming.

    MIL OSI USA News –

  • MIL-OSI Australia: Get ready for business

    Source: New places to play in Gungahlin

    Our focus

    New businesses sometimes make mistakes with their registration, reporting and recordkeeping responsibilities. It’s important new business owners understand their obligations to ensure they’re getting it right from the start.

    If your hobby has turned into a profit-making business, you are responsible for your tax, super and registration obligations. Setting up your business correctly from the start will make it easier to meet these obligations.

    How to get it right

    If you’re planning on starting, or have recently started a new business, we have Ready for business information to help you navigate your obligations.

    Here are the top 7 things you need to know when starting a business.

    1. Use digital tools and maintain accurate records to help you manage daily activities and cash flow. Explore our key rules and free resources to strengthen your business practices.
    2. There are some registrations you will need to complete when you start a business, for example registering for an ABN or a business name.
    3. You can claim a tax deduction for most business expenses if they are directly related to earning your income. Remember to keep records and only claim the business portion of mixed-use expenses.
    4. The type of business structure you set up will affect your tax and registration requirements. It’s important to choose the right business structure and understand your obligations.
    5. If you’re an employer, it’s important you know you have extra responsibilities and obligations.
    6. You need to lodge and pay your taxes on time. You can prepay your estimated income tax liability, through pay as you go (PAYG) instalments. You can voluntarily enter PAYG instalments to help you smooth out your cashflow and avoid a large tax bill when you lodge your tax return.
    7. Businesses that maintain accurate records, lodge and pay on time and avoid errors not only steer clear of penalties and general interest charge but also become more resilient when facing challenges.

    Example: Barry’s photography hobby takes flight

    Barry works an office job Monday to Friday and enjoys taking photos of birds in his spare time. Barry has become well known by members of his local community as a talented photographer.

    Over the past 12 months Barry has been approached to photograph local events and demand for his skills is increasing. Barry charges a fee for each event and is now earning money from his photos.

    With the growing interest, Barry cuts back on his office work and starts to invest more time into photography. Barry sets up a website, sets up a booking system and starts advertising his services online. He also buys more photography equipment to improve his production quality, so he can earn more from each event.

    Barry wants to know if his photography side hustle is a business. He looks at all his activities together and determines he is running a business because he:

    • intends to make a profit to supplement his salary and wage income
    • set up a regular schedule for these activities
    • operates in a business-like way (he has a plan and system for making a profit).

    End of example

    Know your responsibilities as an employer

    Whether you’re hiring your first worker, or you’re an experienced employer, it’s important you understand and meet your employer obligations. This includes:

    Keep up to date

    Learn more by taking our free self-paced online courses at Essentials to strengthen your small businessExternal Link.

    You can also:

    • subscribe to our free Small business newsletter to get updates that might impact your business
    • contact your tax professional to obtain advice specific to your business needs.

    MIL OSI News –

  • MIL-OSI Canada: Government Continues to Deliver for Saskatchewan Residents as Spring Sitting Concludes

    Source: Government of Canada regional news

    Released on May 15, 2025

    With the Spring sitting of the Legislature concluding today, Premier Scott Moe highlighted the Government of Saskatchewan’s balanced 2025-26 Budget and how it is delivering for you.

    “Our government continues to prioritize safety in our communities and ensuring services are available to all residents when and where they need them,” Moe said. “Saskatchewan is a growing and vibrant province that continues to benefit from a strong economy even in uncertain times. Record investments were made this year to keep Saskatchewan an affordable place to live, work and raise a family.”

    In this year’s budget, record investments continue to be made in health care, education and community safety, in addition to delivering more affordability measures than ever before. 

    New affordability measures include:

    • The Fertility Treatment Tax Credit, helping individuals or couples cover costs associated with fertility treatments.
    • Doubling the Active Families Benefit tax credit and raising the qualifying income threshold to $120,000 will make accessing children’s sports, arts, cultural and recreational activities more affordable. 
    • Seniors receive an increase in the senior supplement amount by $500 annually for the next four years, starting in 2025 – over and above the impact of indexation.
    • An increase to the Personal Care Home Benefit will help more than 2,000 low-income seniors with the cost of living in a licensed personal care home. 
    • The Graduate Retention Program has also increased, with a maximum benefit of $24,000 for students who live and work in Saskatchewan after graduating from a post-secondary institution.
    • The Saskatchewan Advantage Scholarship provides up to $3,000 for Grade 12 students who will be attending post-secondary institutions in the province. 
    • All education property tax mill rates have been reduced to absorb the increase in property assessment values and ensure this assessment year is revenue neutral for the province. This change will save property owners in the province more than $100 million annually.
    • Reinstating the Home Renovation Tax Credit saves residents up to $420 and seniors $525 annually in provincial income tax.
    • The First-Time Homebuyers’ Tax Credit maximum benefit increased to $1,575, making homeownership more attainable for first-time homebuyers, and the PST Rebate on New Home Construction was made permanent. 
    • The Disability Tax Credit and the Disability Tax Credit supplement for children under 18 both increase by 25 per cent, in addition to indexation.
    • The Caregiver Tax Credit also increases by 25 per cent, in addition to indexation, which provides financial support for families who care for adult children or parents with physical or mental impairments.
    • The Small Business Tax Rate permanently remains at one per cent, which benefits more than 35,000 small businesses and saves them over $50 million annually in corporate income taxes.
    • The Small and Medium Enterprise Investment Tax Credit provides a non-refundable tax credit for individuals or corporations that invest in the equity of eligible Saskatchewan small and medium enterprise, while the Saskatchewan Class 1 Truck Driver Training Rebate Program supports individuals seeking their commercial driving license. 

    Additionally, legislation introduced and passed this year aims to promote community safety. Amendments to The Construction Codes Act allow the development of a pilot framework intended to help eligible municipalities dispose of these structures as well as provide a training opportunity for local volunteer fire departments. Amendments to The Safe Public Spaces (Street Weapons) Act include fentanyl, methamphetamine and hypodermic needles as categories of street weapons recognizing the significant risks these items present to public safety. New regulations under The Trespass to Property Amendment Regulations, 2025, will allow police to immediately enforce the Act against individuals partaking in activities such as public intoxication and drug use as it will be automatically considered trespassing in public spaces or businesses.

    This April, the Government of Saskatchewan was pleased to reach a new agreement between the Government-Trustee Bargaining Committee (GTBC) and the Teachers’ Bargaining Committee. This new agreement recognizes the important role of teachers and provides certainty for teachers, students and their families.

    Health care continues to be a priority for the government with continued investment into new and enhanced services and the Health Human Resources Action Plan to ensure services are staffed. The new Regina Breast Health Centre started welcoming patients this spring offering a co-location of essential services to streamline care, reduce wait times and improve patient experiences in what can often be a challenging time. Success continues to be made with recruitment guided by the Health Human Resources Action Plan to recruit, train, incentivize and retain more staff in the province. To continue that work, Saskatchewan’s Rural and Remote Recruitment

    Incentive (RRRI) program has been expanded to an additional 16 communities for a total of 70. This incentive of up to $50,000 for a three-year return-in-service is offered to new, permanent full-time employees in nine high-priority health occupations in rural and remote communities experiencing or at risk of service disruptions due to staffing challenges. A recruitment campaign also launched recently encouraging physicians from the United States to consider practicing in Saskatchewan.

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    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: IP Bryant Visits IAM Union Strike Lines at Pratt & Whitney as Public Pressure Mounts on Company

    Source: US GOIAM Union

    Amidst soaking rains in Connecticut, IAM Union International President Brian Bryant delivered strong messages of solidarity to 3,000 IAM Local 1746 and Local 700 (District 26) members on strike for a fair contract at Pratt & Whitney.

    “You are absolutely right on the reasons you are on strike,” Bryant told striking workers on picket lines in East Harford and Middletown. “This company would not be here if it wasn’t for the IAM and our members. It’s high time this company realizes that!”

    VIDEO: International President Bryant visits strike line

    IAM members at Pratt & Whitney voted overwhelmingly to reject the contract and strike the company on May 4 after the company’s offer failed to protect their jobs, wages and retirement security. The strike comes amidst the company reporting a $580 million profit in the first quarter of 2025, a 41% rise since last year.

    PHOTOS: International President Bryant visits strike line

    Pratt & Whitney management is under mounting pressure from its dedicated IAM workforce, as well as a growing list of elected officials, to come back to the bargaining table and negotiate a fair contract. 

    US Pratt engine strikers press for jobs commitment, union says Reuters

    IAM Eastern Territory General Vice President David Sullivan visited picket lines and allies like the Connecticut AFL-CIO have been a mainstay outside Pratt & Whitney gates.

    Blumenthal, DeLauro, Larson visit striking Pratt & Whitney machinists in E. Hartford and Middletown CT Post

    IAM members continue to feel support on the picket lines from the likes of U.S. Sen. Richard Blumenthal, U.S. Rep. Rosa DeLauro, U.S. Rep. John Larson, U.S. Rep. Joe Courtney, U.S. Rep. Jahana Hayes, Gov. Ned Lamont, Lt. Gov. Susan Bysiewicz, as well as many other state and local officials.

    Share and Follow:

    MIL OSI USA News –

  • MIL-OSI: Karolinska Development’s Annual General Meeting 2025

    Source: GlobeNewswire (MIL-OSI)

    STOCKHOLM, SWEDEN – May 15, 2025. Karolinska Development AB (publ) (“Karolinska Development” or the “Company”) held the Annual General Meeting on May 15, 2025. The shareholders have had the right to exercise their voting rights in advance through postal voting pursuant to item 13 in the articles of association. Therefore, shareholders have had the choice to exercise their voting rights at the AGM by attending in person, by postal voting or through a proxy. The following resolutions were passed by the shareholders at the Annual General Meeting:

    Profit and loss statement and the balance sheet: It was resolved to adopt the profit and loss statement and the balance sheet and the consolidated profit and loss statement and the consolidated balance sheet.

    Appropriation of the Company’s result: It was resolved to approve the allocation of the result, proposed by the Board of Directors and the CEO, in total SEK 1,235,972,877 to be carried forward.

    Discharge from liability of the directors and the CEO: It was resolved to grant the directors and the CEO discharge from liability for the financial year 2024.

    Resolution regarding the number of directors and auditors and deputy auditors to be appointed: It was resolved that the number of directors shall be five without deputies and that the number of auditors shall be one. No deputy auditor shall be appointed.

    Resolution in respect of the fees for the Board of Directors and for the auditor: It was resolved that the chairman will be paid a fixed amount of SEK 400,000 to be paid out in proportion to board meetings attended; that all other directors will be paid a fixed amount of SEK 200,000 to be paid out in proportion to board meetings attended; that the auditor will be paid as per invoice.

    Election of Chairman of the Board of Directors, directors and auditors and deputy auditors: It was resolved to re-elect the directors Ben Toogood, Anna Lefevre Skjöldebrand, Philip Duong and Will Zeng, and to elect Anders Härfstrand as director, and it was resolved to re-elect Ben Toogood as Chairman of the Board of Directors. It was resolved to, in accordance with the audit committee’s recommendation, re-elect Ernst & Young Aktiebolag as auditor, currently with Oskar Wall as auditor in charge, for the time until the end of the 2026 Annual General Meeting.

    Principles for appointing members and instruction for the Nomination Committee: It was resolved that the Nomination Committee shall have five members. Every year, the five largest owners (voting power, as set forth in the share register kept by Euroclear Sweden AB as of the last banking day in August) shall appoint one member each. The chairman of the Board of Directors shall convene the first meeting. If a shareholder does not exercise its right to appoint a member, the shareholder next in order of voting power, who has not already appointed a member or has a right to appoint a member, shall have the right to appoint a member to the Nominating Committee. The members of the Nomination Committee shall be made public as soon as the members have been appointed, and in no case later than six months prior to the Annual General Meeting. The members shall among themselves appoint the chairman of the Nomination Committee. If a member resigns or is prevented from pursuing his/her assignment, the shareholder that has appointed such member shall appoint a new member. In the event that the shareholding in the Company is materially changed, before the Nomination Committee has completed its assignment, the Nomination Committee may decide to change the composition of the Nomination Committee, as determined by the Nomination Committee (considering the principles applicable for the appointment of the Nomination Committee). Any change in the composition of the Nomination Committee shall be announced as soon as possible. No fees shall be paid to the members of the Nomination Committee. Out of pocket expenses shall be reimbursed by the Company. The mandate of the committee shall be until the members of the succeeding committee have been announced.

    The Nomination Committee is to make proposals to the Annual General Meeting regarding the election of Chair of the Annual General Meeting, number of directors, Chair of the Board of Directors and other directors and remuneration to the directors. The Nomination Committee is also to make proposals regarding the company’s auditor, remuneration to the company’s auditor and election of members of the Nomination Committee or principles for the selection of a Nomination Committee. The Nomination Committee shall conduct an annual evaluation of this instruction and when necessary propose to amend it to the Annual General Meeting. The Nomination Committee shall otherwise carry out the tasks that, according to the Swedish Corporate Governance Code, are the responsibility of the Nomination Committee.

    Resolution on approval of the Board of Directors’ Remuneration Report 2024: It was resolved to approve the Board of Directors’ remuneration report for 2024 in accordance with Chapter 8, Section 53 a of the Swedish Companies Act.

    The Board of Directors’ proposal regarding authorization for the Board of Directors to resolve on transfer of own shares: It was resolved to authorize the Board of Directors, for the period until the next Annual General Meeting, on one or more occasions, with or without deviation from the shareholders’ preferential rights, to resolve on transfer of all shares of series B held by the Company at any given time. Transfer may take place on Nasdaq Stockholm or otherwise. Transfer on Nasdaq Stockholm shall be made at a price per share within the registered price interval at any given time, being the interval between the highest bid and lowest ask price. Otherwise, transfer shall be made on market terms. Payment for shares shall be made in cash, in kind or by set-off.

    The Board of Directors’ proposal regarding authorization for the Board of Directors to resolve on new issues of shares: It was resolved to authorize the Board of Directors, for the period until the next Annual General Meeting to resolve, on one or more occasions, with or without deviation from the shareholders’ preferential rights, and for payment in cash, by set-off or in kind, to issue new shares of series B up to a number that, at the time of the first resolution under the authorization, corresponds to twenty (20) per cent of the total share capital; provided however that any such issue must not result in the Company’s share capital exceeding the Company’s maximum allowed share capital as set out in the articles of association.

    Complete information regarding each resolution of the Annual General Meeting can be found on www.karolinskadevelopment.com.

    For further information, please contact:

    Viktor Drvota, CEO, Karolinska Development AB
    Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

    Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
    Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

    The information was submitted for publication through the agency of the contact persons set out above on May 15, 2025 at 16:45 CEST.

    TO THE EDITORS

    About Karolinska Development AB

    Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients’ lives while providing an attractive return on investment to shareholders.

    Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

    Karolinska Development has a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

    The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

    For more information, please visit www.karolinskadevelopment.com

    Attachment

    The MIL Network –

  • MIL-OSI USA: Newhouse, Republican Colleagues Issue Joint Statement on Clean Energy Tax Credits

    Source: United States House of Representatives – Congressman Dan Newhouse (4th District of Washington)

    Headline: Newhouse, Republican Colleagues Issue Joint Statement on Clean Energy Tax Credits

    WASHINGTON, D.C. – Today, Rep. Dan Newhouse (WA-04) joined Reps. Jen Kiggans (VA-02), Andrew Garbarino (NY-02), Mark Amodei (NV-02), Rob Bresnahan (PA-08), Juan Ciscomani (AZ-06), Gabe Evans (CO-08), Dave Joyce (OH-14), Nick LaLota (NY-01), Mike Lawler (NY-17), Young Kim (CA-40), Don Bacon (NE-02), and David Valadao (CA-22) in issuing a joint statement regarding the clean energy tax provisions in the One, Big, Beautiful Bill.

    “We commend the Ways and Means Committee for including reasonable phase-out schedules for certain clean energy tax credits. While many of these provisions reflect a commitment to American energy dominance through an all-of-the-above energy strategy, we must ensure certainty for current and future energy investments to meet the nation’s growing power demand and protect our constituents from higher energy costs. 

    To fully realize the intent of these phase-out schedules, we ask House leadership to consider three thoughtful changes to the energy tax credits section. 

    First, the Foreign Entity of Concern provisions are overly prescriptive and risk undermining U.S. competitiveness—particularly against China—by restricting domestic energy production. These provisions should be revised to allow companies additional time to reorganize their supply chains, ensuring a strategic and successful transition.  

    Second, the current “placed in service” standard does not align with the Committee’s thoughtful phase-out schedule. Replacing it with a “start construction” standard is essential to supporting the energy development needed to meet the growing power demand and protect thousands of high-quality American jobs in communities across the country.  

    Finally, the transferability of energy tax credits should remain available throughout the entire phase-out period established by the Committee, providing businesses with the flexibility necessary to make long-term investments in American energy. 

    We appreciate the Ways and Means Committee putting America first by investing in American energy dominance, but the last thing any of us want is to provoke an energy crisis or cause higher energy bills for working families. We urge the Committee to consider these important changes in this critical part of our One Big Beautiful Bill.” 

    This was first reported today as an exclusive by POLITICO.  

    ###  

    MIL OSI USA News –

  • MIL-OSI: AutoScheduler Introduces GenAI-Driven Orchestration

    Source: GlobeNewswire (MIL-OSI)

    Austin, Texas, May 15, 2025 (GLOBE NEWSWIRE) — AutoScheduler.AI, an innovative Warehouse Orchestration Platform and WMS accelerator, is offering an exclusive session where CEO Keith Moore will demonstrate the latest innovation on the AutoScheduler platform: GenAI-Driven Orchestration. The session takes place on Wednesday, May 28, 2025, at 10:00 AM CDT.

    “With GenAI-Driven Orchestration, companies can move beyond optimization to create operations that learn, evolve, and unlock new levels of efficiency,” says Keith Moore, CEO of AutoScheduler.AI. “This session will showcase how GenAI-Driven Orchestration helps our customers identify margin gaps, streamline execution, and make smarter, faster decisions that drive measurable impact.”

    At the session, attendees will discover how Generative AI is enhancing warehouse orchestration by enabling:

    • Site accountability and performance tracking to surface margin gaps and drive consistent improvement.
    • Enhanced decision making to reduce manual inputs and maximize throughput.
    • Harmonized visibility to eliminate blind spots and drive smarter, real-time decisions.

    At the recent Gartner® Supply Chain Symposium/Xpo, AutoScheduler and PepsiCo discussed how PepsiCo uses AI and optimization to improve warehouse efficiencies, including an average of 9 – 14% productivity gains per facility.

    “This demonstration isn’t a PowerPoint – it’s a live look at how GenAI is orchestrating real-time warehouse execution at scale,” adds Moore.

    To register for the free event, visit: https://register.gotowebinar.com/register/9140815653517074011        

    About AutoScheduler.AI

    AutoScheduler.AI empowers you to take full control of your warehouse with a cloud-based solution that seamlessly integrates with your existing WMS/LMS/YMS or any other solution. We automate critical tasks like labor scheduling, dock management, and task sequencing, ensuring everything runs smoothly and efficiently. You’ve already invested in the software to run your warehouse—what we do is provide the orchestration layer that ties it all together to make real-time data driven decisions. With AutoScheduler.AI, you get smart orchestration for a smarter, more agile warehouse. For more information, visit: http://www.autoscheduler.ai.

    Contact:
    Becky Boyd
    MediaFirst PR
    Becky@MediaFirst.Net
    Cell: (404) 421-8497 

    The MIL Network –

  • MIL-OSI: Climb Credit Supports Student Repayment Outcomes and Improves Enrollment Process with Integrated Deposit Feature

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, May 15, 2025 (GLOBE NEWSWIRE) — Climb Credit, a leading student lending platform focused on skills education, today announced the launch of its new deposit collection feature, designed to give career-training schools greater control over enrollment and repayment outcomes—without adding operational overhead.

    The feature enables schools to automatically collect and track student deposit payments through a seamless workflow integrated with the loan process. Once a student is approved for a Climb loan and accepts their offer, they receive an automated prompt to submit their school’s required deposit, with all payment tracking managed in Climb’s School Portal.

    “Deposits are a key signal of student commitment, but schools have traditionally had to manage them separately from the loan process,” said Casey Powers, CEO of Climb Credit. “With this launch, we’ve streamlined deposit collection for schools and simplified the experience for students—reducing friction and accelerating enrollment.

    Initial data from schools collecting deposits shows a 46–48% decrease* in the likelihood of borrower default for lower credit borrowers. This improvement is attributed not only to the upfront financial commitment, but also to a smoother path into auto-pay enrollment. When students submit deposits via bank transfer, those details can be automatically linked to Climb’s loan servicing platform—making it easier to activate auto-pay and receive a 0.25% interest rate reduction.**

    The new feature is fully integrated into Climb’s lending platform, meaning schools no longer need to manually invoice students or track payments across systems. Adjusting individual deposit amounts, verifying funding status, and accessing real-time student-level data can all be done through Climb’s School Portal.

    This launch adds to Climb’s growing suite of products aimed at improving access, outcomes, and operational efficiency for career training providers—particularly in healthcare, skilled trades, and technology.

    *Data calculated through an assessment or repayment performance on loans from 2Q23 to Q12025 with and without a deposit requirement. Assessment included Climb advance loans without a full deferment period and borrower FICO scores below 660. Data was collected across market segments including programs in Computer Sciences, Healthcare, IT, and Trade Schools.

    **The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. This discount only applies to interest-bearing products, not 0%interest financing products.

    Climb encourages students to do thorough research in selecting a training program that meets their unique needs. Details provided by Climb are for information purposes only and are not meant to qualify an institution or be relied upon in determining which institution is right for you.

    About Climb Credit

    ​​Climb (NMLS# 1240013) is an innovative student payment platform that makes career-focused education more accessible and affordable. Driven by a mission to empower individuals to unlock their potential – no matter their credit profile – Climb identifies programs and schools that offer skill-based training programs, then provides learners with payment options that are structured to meet the unique needs of those seeking career training. Recognizing the dynamic and diverse nature of a rapidly-changing economy, Climb partners with schools that teach everything from cybersecurity to healthcare training, heavy machine operation to data science, and culinary arts to AI & Machine Learning. While status quo education pathways are struggling to meet the real-world needs of students and prospective employers, Climb and its partner schools are committed to an inspiring practicality that helps bridge the gap between people looking for career training and companies looking to build a skilled workforce.

    The MIL Network –

  • MIL-OSI: EXL named a Leader in 2025 Gartner® Magic Quadrant™ for Finance and Accounting Business Process Outsourcing

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a global data and AI company, has been named a Leader in the 2025 Gartner Magic Quadrant for Finance and Accounting (F&A) Business Process Outsourcing (BPO).

    The Gartner research report evaluated 16 F&A service providers according to a uniform set of criteria, placing companies into four Quadrants: Leaders, Visionaries, Niche Players and Challengers. Gartner defines Leaders as companies that “execute well against their current vision and are well positioned for tomorrow.”

    The report noted: “Enhanced F&A BPO offerings that meet finance’s need for more automated transactional processing focus on providing process transformation expertise, often combined with proprietary or partnered process automation technologies, including the use of AI and machine learning. Buyers benefit from these types of agreements by maturing their processes, adopting technologies that require minimum human intervention, and driving more competitive processing costs.” This is the fourth consecutive year that EXL has been named a Leader in this report.

    “The demands on the modern finance department are steadily increasing, as new accounting and compliance requirements have created a vital need for faster, more accurate flow of information,” said Vikas Bhalla, president and head of AI services and operations. “Our data and AI-led approach is helping clients rise to meet these challenges, while creating new opportunities for optimization and growth.”

    EXL was recognized as a Customers’ Choice in the 2025 Gartner® Peer Insights™ Voice of the Customer for Finance and Accounting Business Process Outsourcing Services. As of May 13, 2025, EXL has an overall rating of 4.7 out of 5 in the Finance and Accounting Business Process Outsourcing market, based on 68 reviews on Gartner Peer Insights™.

    To learn more about EXL finance and accounting services click here.

    Source: Gartner, Magic Quadrant for Finance and Accounting Business Process Outsourcing,  Jan Ambergen, Jeffrin Francis, Miles Onafowora, 14 April 2025

    Peer Contributors, Voice of the Customer for Finance and Accounting Business Process Outsourcing Services, February 2025

    Gartner and Peer Insights are trademarks of Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

    Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

    Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    About EXL

    EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 60,000 employees spanning six continents. For more information, visit www.exlservice.com.

    About Palantir Technologies Inc.

    Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

  • MIL-OSI: Videlio acquires Team Office in Italy and strengthens its european presence

    Source: GlobeNewswire (MIL-OSI)

    The Videlio Group, a leading player in audiovisual integration in France and internationally, announces the acquisition of the Italian company Team Office, a recognized integrator in professional and collaborative environments. This acquisition strengthens Videlio’s presence in Italy, where the group is already established through its subsidiary HMS, specialized in audiovisual solutions for the cruise sector.

    With this new acquisition, Videlio reaffirms its ambition to become a top European audiovisual player.

    A shared vision of digital  innovation

    Team Office has solid experience in integrating audiovisual solutions, unified communication, and collaboration for professional environments. Known for its technical expertise and client proximity, the company has been working for over 30 years with the major customer  of the italian territory. 

    By joining Videlio, Team Office gains access to the resources of a well-structured group, positioned across many audiovisual areas and present along the entire value chain—from engineering to maintenance, including managed services.

    Based in Rome and with 55 employees, Team Office’s team and management, led by Alessandra Favella, will aim to accelerate the company’s development with increasingly innovative, sustainable, and immersive projects in line with new audiovisual and digital trends.

    Xavier Renaud, President of Videlio, says:

    “The merger with Team Office is a perfect fit for our European growth strategy. We are delighted and very proud to welcome the Team Office teams, who have skillfully developed their company while maintaining a strong focus on service quality. We share a common vision: to promote excellence in audiovisual experiences with an innovation-driven DNA. We will support Alessandra and her leadership team with the shared ambition of rapidly becoming one of the leaders in audiovisual integration in the Italian market, while asserting ourselves as a key player on the European stage.”

    Alessandra Favella, new CEO of Team Office, adds:

    “Joining the Videlio Group is a fantastic opportunity for our company, our employees, and our clients. For over 30 years, we have built Team Office around ethical values, commitment and reliability. This partnership allows us to preserve our local DNA while opening up to new horizons, with the strength of an internationally recognized group known for its technological expertise, operational excellence, and capacity to lead large-scale projects. This alliance will enable us to expand our solution portfolio, develop our skills, and participate in ambitious projects. It’s a new step in our history, one that we approach with enthusiasm and determination.”

    The MIL Network –

  • MIL-OSI: Change in the holding of WithSecure Corporation’s own shares

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, Stock Exchange Release, 15 May 2025, at 17:30 EEST

    Change in the holding of WithSecure Corporation’s own shares

    WithSecure Corporation has transferred without consideration a total of 52,224 of the company’s treasury shares to the recipients of the Restricted Share Plan (RSP) 2022-2024 reward shares.

    Following the transfer, WithSecure Corporation holds a total of 379,666 of its own shares.

    Contact information:
    Laura Viita
    VP, Controlling, investor relations and sustainability
    WithSecure Corporation
    +358 50 487 1044
    investor-relations@withsecure.com

    The MIL Network –

  • MIL-OSI: RegEd Advances Next-Generation AI Capabilities of Its Industry-Leading Advertising Compliance Review Solution

    Source: GlobeNewswire (MIL-OSI)

    Raleigh, NC, May 15, 2025 (GLOBE NEWSWIRE) — RegEd, the leading provider of compliance solutions for the financial services industry, today announced the release of Version 3.0 of the proprietary AI model that powers its Advertising Review solution. This marks a significant milestone in the evolution of RegEd’s Submission Intelligence suite of capabilities and underscores the company’s leadership in enterprise-grade, AI-enabled compliance technology. 

    Less than a year after being the first to deliver enterprise-ready AI for advertising compliance, RegEd has introduced its third-generation model, setting a new benchmark for precision, efficiency, and data security. The AI 3.0 release achieves more than 90% accuracy in identifying problematic content in advertising and marketing materials, with continuous refinement driven by real-world use across dozens of leading financial services firms. 

    “At RegEd, AI is more than a buzzword,” said Ethan Floyd, Chief Product Officer at RegEd. “Many vendors are using ‘AI’ as a marketing tactic, describing capabilities as “agents” that are not built on AI technology. Because of the value it can bring our customers, RegEd invested in building its own AI technology and development discipline that is in production today. Our model continues to improve because of the level of adoption we have across our customer base, and because we’ve implemented a robust methodology to constantly fine-tune it for maximum utility for the industry.”

    Developed within a closed-loop system, RegEd’s AI ensures complete client data privacy. The model is governed, trained, and deployed exclusively within RegEd’s secure infrastructure, avoiding the security and privacy risks associated with third-party models, or those that are externally trained or managed. 

    Key Enhancements in Version 3.0: 

    • Improved Accuracy: Now exceeding 90% accuracy in problematic content detection, with continued reduction in false positives. 
    • Client-Calibrated Tuning: Firms can now adjust sensitivity thresholds to align the model with internal standards and review preferences. 
    • Consistency Across Review Teams: AI delivers repeatable, scalable identification of red flags, helping teams maintain uniformity across reviewers and workflows. 

    In addition to the enhancements in Version 3.0, RegEd will introduce AI-assisted pre-review later this year. This next-phase capability will enable firms to screen materials for compliance issues before human review, further accelerating review cycles and improving speed to market. 

    RegEd’s ongoing commitment to governance, model validation, and robust testing ensures that each evolution of its solution delivers measurable impact without compromising on security, privacy or compliance effectiveness. 

    To learn more or request a demonstration, visit www.reged.com. 

    About RegEd 

    RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients that represent more than 35 of the top 50 insurance companies. 

    Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk. 

    Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com. 

    The MIL Network –

  • MIL-OSI: Immunefi Partners with Fuzzland to Bring Advanced AI-Driven Threat Prevention to Magnus

    Source: GlobeNewswire (MIL-OSI)

    Singapore, May 15, 2025 (GLOBE NEWSWIRE) — Immunefi, the leading onchain security platform protecting over $190 billion in user funds, today announces Fuzzland as the latest strategic partner of its Magnus platform. This partnership marks a significant step toward building a unified, proactive, and intelligent defense system for decentralized protocols, integrating advanced AI-driven fuzzing and real-time threat detection technologies directly into Magnus.

    Fuzzland is recognized for its deeply technical, multi-layered approach to threat prevention. The company has been responsible for identifying 8,291+ vulnerabilities in protocols, rescuing over $33.4 million in assets, and directly preventing over 110 attacks. Its approach goes far beyond threat detection, actively neutralizing vulnerabilities through powerful, automated analysis solutions, including:

    • 24/7 On-Chain Penetration Testing: Utilizes AI-driven fuzzing and formal verification to analyze smart contracts across thousands of transactions per second, identifying vulnerabilities before they can be exploited. 
    • Monitoring Alerts: Instant notifications for suspicious activities across blockchain and infrastructure layers.
    • Mitigation: Proactive and reactive interventions using real-time mempool analysis to prevent exploits.

    Magnus users now benefit from enhanced security intelligence and always-on protection across the entire onchain security stack. The seamless integration of Fuzzland’s advanced technologies enables continuous smart contract monitoring, AI-driven real-time vulnerability detection, and proactive and reactive mitigation of live threats — all from a single command center.

    “We’re excited to partner with Fuzzland and integrate their cutting-edge AI-driven security technology into Magnus. Their innovative approach to proactive threat prevention is a game-changer, and it perfectly complements our mission to protect protocols before threats can even surface,” said Mitchell Amador, Founder and CEO of Immunefi. 

    “For protocols building in today’s high-risk environment, it’s not enough to detect vulnerabilities, you need to outpace them. That’s exactly what this integration enables, and we’re thrilled to join Magnus and contribute to building the future of onchain security. Magnus is exactly what the industry has been waiting for: a revolutionary platform unifying the entire security stack into one integrated solution, transforming how protocols defend themselves,” said Dan Matulula, Ecosystem Lead at Fuzzland.

    The future of decentralized security is collaborative, automated, and relentless — and it’s being built now. Protocols can sign up for early access to Magnus and experience the next generation of onchain security. Sign up now, here.

    About Immunefi
    Immunefi is the leading onchain security platform, working with ground-breaking protocols such as Chainlink, Ethereum Foundation, Optimism, Arbitrum, and many more. Our latest product, Magnus, bridges the gap between security solutions by creating a unified platform for security operations. Allowing protocols to easily launch bug bounties, audit competitions, and proactively stop threats using our automations engine built with the industry’s best vulnerabilities dataset. Our growing community of over 60,000 security researchers protects $190B in user funds and has prevented over $25B in hacks across 500+ protocols. Learn more at immunefi.com.

    The MIL Network –

  • MIL-OSI: The Southern Banc Company, Inc. Announces Third Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    GADSDEN, Ala., May 15, 2025 (GLOBE NEWSWIRE) — The Southern Banc Company, Inc. (OTCBB: SRNN), the holding company for The Southern Bank Company (the “Bank”), announced net income of approximately $230,000, or $0.30 per basic and $0.30 per diluted share, for the quarter ended March 31, 2025, as compared to net income of approximately $340,000, or $0.45 per basic and $0.44 per diluted share, for the quarter ended March 31, 2024. The Company announced that for the nine-month period ended March 31, 2025, the Company recorded net income of approximately $775,000, or $1.02 per basic and $1.01 per diluted share, as compared to net income of approximately $1,177,000, or $1.55 per basic and $1.53 per diluted share, for the nine-month period ended March 31, 2024. The Company’s fiscal year ends June 30, 2025.

    Gates Little, President and Chief Executive Officer of the Company stated that the Company’s net interest margins increased approximately $335,000, or 17.92%, during the quarter as compared to the same period in 2024. The increase in the net interest margin before provision for credit losses for the quarter was primarily attributable to an increase in total interest income of approximately $477,000 offset by an increase in total interest expense of approximately $142,000. For the three-month period ending March 31, 2025, the Company recorded a provision for loan and lease losses in the amount of approximately $99,000 as compared to no provision for the three-month period ended March 31, 2024. For the quarter ending March 31, 2025, total non-interest income decreased approximately $53,000, or (27.88%), while total non-interest expense increased approximately $332,000, or 20.70%, as compared to the same three-month period in 2024. The decrease in non-interest income was primarily attributable to a decrease in miscellaneous income of approximately $51,000 and customer services fees of approximately $2,000. The increase in non-interest expense was primarily attributable to increases in salaries and benefits of approximately $289,000, professional service expense of approximately $26,000, and occupancy expense of approximately $8,000 offset in part by a decrease in data processing expenses of approximately $10,000.

    For the nine months ending March 31, 2025, net interest income increased approximately $1,442,000, or 20.17%, as compared to the same period in 2024. For the nine-month period ending March 31, 2025, the Company recorded a provision for loan and lease losses in the amount of approximately $541,000 as compared to no provision for the nine-month period ended March 31, 2024. For the nine-months ended March 31, 2025, total non-interest income decreased approximately $42,000, or (8.53%), while total non-interest expense increased approximately $774,000, or 16.70%, as compared to the same period in 2024. The decrease in non-interest income was primarily attributable to decreases in miscellaneous income of approximately $37,000 and customer service fees of approximately $5,000. The increase in non-interest expense was primarily attributable to increases in salaries and benefits of approximately $630,000, occupancy expense of approximately $21,000, professional fees of approximately $144,000, offset in part by a decrease in data processing expense of approximately $25,000.

    The Company’s total assets on March 31, 2025, were approximately $127.7 million, as compared to $113.1 million at June 30, 2024. Total stockholders’ equity was approximately $16.3 million on March 31, 2025, or 12.73% of total assets as compared to approximately $14.5 million on June 30, 2024, or approximately 12.80% of total assets.

    The Bank has four full-service banking offices located in Gadsden, Albertville, Guntersville, and Centre, AL, and one loan production office in Birmingham, AL that conducts factoring activities. Common stock of The Southern Banc Company, Inc. trades in the over-the-counter market under the symbol “SRNN”.

    Certain statements in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which statements can generally be identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “target,” “plan,” “project,” “continue,” or the negatives thereof, or other variations thereon or similar terminology, and are made on the basis of management’s plans and current analyses of the Company, its business and the industry as a whole. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. The above factors, in some cases, have affected, and in the future could affect the Company’s financial performance and could cause actual results to differ materially from those expressed or implied in such forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

     
    (Selected financial data attached)
     
     
    THE SOUTHERN BANC COMPANY, INC.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (Dollar Amounts in Thousands)
     
        March 31,     June 30,
        2025     2024
        Unaudited     Audited
    ASSETS          
    CASH AND CASH EQUIVALENTS $ 26,537     $ 12,632  
    SECURITIES AVAILABLE FOR SALE, at fair value   38,922       37,912  
    FEDERAL HOME LOAN BANK STOCK   125       120  
    LOANS RECEIVABLE, net of allowance for loan losses of $1,605 and $1,160, respectively   58,408       58,199  
    PREMISES AND EQUIPMENT, net   1,025       1,133  
    ACCRUED INTEREST AND DIVIDENDS RECEIVABLE   955       934  
    PREPAID EXPENSES AND OTHER ASSETS   1,763       2,124  
               
    TOTAL ASSETS $ 127,735     $ 113,054  
               
    LIABILITIES          
    DEPOSITS $ 104,249     $ 92,250  
    FHLB ADVANCES   0       0  
    OTHER LIABILITIES   7,227       6,338  
    TOTAL LIABILITIES   111,476       98,588  
               
    STOCKHOLDERS’ EQUITY:          
    Preferred stock, par value $.01 per share 500,000 shares authorized; no shares issued and outstanding   –       –  
    Common stock, par value $.01 per share, 3,500,000 authorized, 1,454,750 shares issued   15       15  
    Additional paid-in capital   13,947       13,943  
    Shares held in trust, 44,081 and 46,454 shares at cost, respectively   (762 )     (772 )
    Retained earnings   14,660       13,884  
    Treasury stock, at cost, 648,664 shares   (8,825 )     (8,825 )
    Accumulated other comprehensive (loss)   (2,776 )     (3,779 )
    TOTAL STOCKHOLDERS’ EQUITY   16,259       14,466  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 127,735     $ 113,054  
     
    THE SOUTHERN BANC COMPANY, INC.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Dollar Amounts in Thousands, except per share data)
     
                                                                     Three Months Ended     Nine Months Ended
              March 31,     March 31,
                                 
              2025
    (Unaudited)    		     2024     2025
    (Unaudited)    		     2024
                                 
    INTEREST INCOME:                      
                                 
      Interest and fees on loans $ 2,476   $ 2,108   $ 7,548   $ 6,284
      Interest and dividends on securities   200     182     545     551
      Other interest income   213     122     494     310
                                 
        Total interest income   2,889     2,412     8,587     7,145
                                 
    INTEREST EXPENSE:                      
      Interest on deposits   685     543     2,020     1,392
      Interest on borrowings   0     0     0     0
        Total interest expense   685     543     2,020     1,392
        Net interest income before provision for loan losses   2,204     1,869     6,567     5,753
      Provision for loan losses   99     0     541     0
        Net interest income after provision for loan losses   2,105     1,869     6,026     5,753
                                 
    NON-INTEREST INCOME:                      
      Fees and other non-interest income   30     32     96     101
      Net gain on sale of securities   0     0     0     0
      Miscellaneous income   107     158     344     381
      Total non-interest income   137     190     440     482
                                 
    NON-INTEREST EXPENSE:                      
      Salaries and employee benefits   1,239     950     3,402     2,772
      Office building and equipment expenses   101     93     285     264
      Professional Services Expense   195     169     565     421
      Data Processing Expense   185     195     555     580
      Net loss on sale of securities   0     0     0     0
      Other operating expense   211     192     610     606
          Total non-interest expense   1,931     1,599     5,417     4,643
                                 
      Income before income taxes   311     460     1,049     1,592
                                 
    PROVISION FOR INCOME TAXES   81     120     274     415
                                 
        Net Income $ 230   $ 340   $ 775   $ 1,177
                                 
    EARNINGS PER SHARE:                      
        Basic $ 0.30   $ 0.45   $ 1.02   $ 1.55
        Diluted $ 0.30   $ 0.44   $ 1.01   $ 1.53
                                 
    DIVIDENDS DECLARED PER SHARE $ —   $ —   $ —   $ —
                                 
    AVERAGE SHARES OUTSTANDING:                      
        Basic   763,918     759,650     761,050     760,729
        Diluted   768,309     766,093     766,710     767,791

    Contact: Gates Little
    (256) 543-3860

    The MIL Network –

  • MIL-OSI Economics: Governor Ulrik Nødgaard: The banks may risk losses on loans to export companies

    Source: Danmarks Nationalbank

    Both company and bank earnings increased through 2024, and there has not been a significant increase in the share of non-performing loans. However, export-sensitive industries, such as manufacturing, transportation and agriculture, will be affected by the global uncertainty associated with the ongoing trade conflict. This is especially true for manufacturing companies, where a significant part of exports goes to the United States, the Governor pointed out in his speech.

    ”With continued high core earnings and good cushioning in the form of capitalisation, the banks have a good starting point for dealing with the economic consequences of the trade conflict”, said Ulrik Nødgaard.

    The banks have significant exposures to the export-sensitive industries. Of the three industries mentioned above, it is especially the manufacturing enterprises that have substantial loans from the large banks, while the agricultural enterprises dominate with the medium-sized banks, see the chart below. However, the direct credit risk on bank lending is limited by the fact that a large part of Danish exports of goods to the US are produced in the US. At the same time, Danish agricultural companies export to a greater extent to the European market and are thus less dependent on the American market.

    Ulrik Nødgaard also emphasised that a major shock to Danish exports and a general global slow-down could have an impact on the Danish economy as a whole and give rise to losses on credit institutions’ lending.

    MIL OSI Economics –

  • MIL-OSI Economics: Changes in the Financial Markets and Resolution and Financial Stability Departments

    Source: Czech National Bank

    At its meeting on 15 May 2025, the Bank Board of the Czech National Bank (CNB) approved changes in the bank’s organisational structure with effect from 1 June 2025.

    The Resolution Division will be transferred from the Financial Markets and Resolution Department to the Financial Stability Department. This change is aimed at leveraging synergies in fulfilling one of the CNB’s primary objectives, namely maintaining the long-term stability of the financial system. In connection with this change, the departments concerned will be renamed the Financial Markets Department and the Financial Stability and Resolution Department on 1 June.

    At the same time, the Bank Board decided to appoint Petr Frydrych new Executive Director of the Financial Markets Department with effect from 1 June. Ondřej Strádal will become the Department’s Deputy Executive Director. He will remain in charge of the Reserves Management Division. Daniel Krejčí will head up the Interventions Division.

    Petr Frydrych graduated from the Faculty of Mathematics and Physics at Charles University in Prague. He joined the CNB’s Reserves Management Division in 1995, where he held the post of portfolio manager. He was appointed Director of the Reserves Management Division in 2001 and Director of the Interventions Division in 2005, and now serves as Deputy Executive Director of the Financial Markets and Resolution Department. He has long focused on monetary policy implementation in his work.

    Ondřej Strádal graduated from the Institute of Economic Studies of the Faculty of Social Sciences at Charles University and qualified as a Chartered Financial Analyst in 2003. He began his career at the CNB as a money market broker and then worked as a portfolio manager responsible for international reserves management. After that, he worked at the London branch of Goldman Sachs. Between 2016 and 2019, at the decision of the Bank Board, he held the post of Advisor to the Executive Director at the International Monetary Fund in Washington. In 2008–2016 and since 2019, he has served as Director of the CNB’s Reserves Management Division, where he manages a team of portfolio managers.

    Daniel Krejčí graduated from the Faculty of Finance and Accounting at the Prague University of Economics and Business and from the Institute of Economic Studies of the Faculty of Social Sciences at Charles University. In 1995–2007, he worked at ČSOB in various positions, ultimately as director of interest rate and commodity derivatives trading for clients. He joined the CNB in 2007, where he held the post of Deputy Executive Director of the Risk Management and Transactions Support Department responsible for the Risk Management Division until 2019. Since 2019, he has worked as a chief dealer and Deputy Director of the Reserves Management Division at the CNB.

    Jakub Holas
    Director, Communications Division

    MIL OSI Economics –

  • MIL-OSI Africa: Algoa Cabinda Fabrication Services Joins Angola Oil & Gas (AOG) 2025 as Bronze Sponsor

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

    LUANDA, Angola, May 15, 2025/APO Group/ —

    Oil and gas services provider Algoa Cabinda Fabrication Services has joined the Angola Oil & Gas (AOG) 2025 conference – taking place September 3-4 in Luanda – as a Bronze Sponsor. Algoa Cabinda Fabrication Services is a major supplier of construction, machining, scaffolding, quality control and offshore services for the hydrocarbon industry, and the company’s sponsorship reflects its commitment to supporting the country’s industry growth.

    Algoa Cabinda Fabrication Services completed the construction of the South N’dola wellhead platform in 2025 for the Cabinda Gulf Oil Company – a subsidiary of energy major Chevron. The platform is a fixed-braced structure designed to operate at Angola’s Block 0. It features 12 production wells and utilizes a monobore well deign, connecting to the Mafumeira platform. With the addition and integration of the new wellhead platform, a seamless flow of resources to the Malongo terminal and Angola LNG plant was established. Algoa Cabinda Fabrication Services led the complete fabrication of the platform.

    https://apo-opa.co/4mfRFq7

    https://apo-opa.co/3GPZ67x

    AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    Prior to developing the South N’dola platform, Algoa Cabinda Fabrication Services supported the development of the Lifua-A project in collaboration with Cabinda Gulf Oil Company and its partners on Block 0. The Lifua-A wellhead platform was also fabricated by Algoa Cabinda Fabrication Services and featured a robust steel jacket foundation engineered to withstand hard marine conditions. The platform – designed to unlock marginal reserves in an economic way – is an instrumental part of Block 0, tapping into the block’s 200 million barrels of recoverable oil reserves.

    https://apo-opa.co/43beHWx

    These projects demonstrate Algoa Cabinda Fabrication Services’ expertise in the industry as well as the company’s role in supporting offshore oil projects. As Angola strives to sustain oil production above one million barrels per day, these services will prove highly valuable. In 2025, Angola will launch an international licensing round – offering up to 10 blocks in Kwanza and Benguela basins. With new exploration campaigns on the way, companies such as Algoa Cabinda Fabrication Services are expected to continue playing an instrumental part in supporting Angolan production.

    MIL OSI Africa –

  • MIL-OSI Africa: Invest in African Energy (IAE) 2025: Experts Call for Hybrid Energy Solutions to Power Africa’s Future

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

    PARIS, France, May 15, 2025/APO Group/ —

    At the Invest in African Energy Forum in Paris, industry leaders emphasized the urgent need for Africa to adopt a diversified and flexible energy mix – combining renewables, fossil fuels and off-grid technologies – to meet the continent’s rising electricity demand and avoid deepening power crises.

    During the panel, titled Revolutionizing Power Generation in Africa: The Role of Energy Mix and Innovation, panelists stated that Africa’s path to universal electrification hinges on embracing a hybridized, context-specific approach that can deliver both stability and sustainability.

    “Energy in Africa needs to be thought of in a long-term view. Renewables are cheap, but they are intermittent and not controllable. It is compatible for fossil fuels to be the baseload [to offset] the intermittency of renewables,” said Jérôme Bertheau, Chief Technology Officer at BW Energy.

    Bertheau pointed to the company’s gas-to-power project in Namibia as a model of scalable, market-aligned development. “We have a project in Namibia where we will produce and transport gas from the Kudu field. The project is phased, so we are developing alongside the growth of Namibia. The first step is a 200 MW viable baseload, but we can increase it as the market grows,” he said.

    He added that the project is progressing rapidly toward FID: “We have submitted our field development plan and finished our conceptual studies, and are entering a phase of appraising the reservoir more. We believe there is potentially more gas and oil. We are drilling the first well this year, and the second one next year.”

    The discussion centered on how to bridge the gap between ambition and practical implementation, particularly in under-electrified regions where national grids are weak and investor confidence hinges on returns and reliability. Panelists stressed that successful models already exist, and that Africa’s energy transition must be guided by both technological and commercial innovation.

    “The first step on the ladder is hybridization – we need to introduce more renewables. That is how we offset costs and get more sustainable,” said Christoffer Ek, Director of Decarbonization Services at Wärtsilä Energy, emphasizing that “Hybridization is key to communities in Africa when it comes to affordable, reliable and sustainable energy.”

    With the continent’s electricity consumption per capita hovering around 500 kWh per year – a fraction of global averages, according to Silvia Macri, Associate Director at S&P Global Commodity Insights – the stakes are high. Over-reliance on a single energy source is a major contributor to Africa’s frequent power outages and unreliable supply.

    “We are seeing a lot of power mixes relying on fossil fuels too heavily, or on one source of power, which is a major risk factor. We have consistent power outages and crises in a lot of markets,” she said, adding, “The power gap is not solved by adding capacity alone.”

    Macri pointed to Kenya as a regional success story, where strategic investment in geothermal energy has led to a significant increase in electricity access. “Kenya doubled its electricity access in less than a decade,” said Macri, highlighting that Africa’s broad access to both renewable and fossil resources gives it a unique advantage if the right mix can be struck.

    MIL OSI Africa –

  • MIL-OSI Africa: “We Don’t Have the Luxury of Time”: Global Energy Leaders Urge Swift Action on Africa’s Resources

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

    PARIS, France, May 15, 2025/APO Group/ —

    In a striking call to action at the closing session of the Invest in African Energy Forum in Paris, Energean CEO Mathios Rigas laid out a bold vision to replicate the company’s Mediterranean success across Africa, urging African governments to accelerate decision-making and prioritize the development of untapped gas resources.

    Rigas’ remarks came during the high-profile panel, The Future of Global Energy Partnerships: Seizing Africa’s Untapped Market Opportunities –sponsored be Energean – which brought together global energy leaders to underscore Africa’s central role in shaping the future of secure, inclusive and sustainable energy systems.

    “We want to bring the same model that worked in the Mediterranean to Africa,” said Rigas. “We don’t have the luxury of time. This is not exclusive [to] renewables or natural gas. To solve energy poverty, affordability and accessibility for the whole continent – we need everything.”

    Energean, which has invested over $3 billion in the Mediterranean over the last five years, is now looking to deploy the same integrated development approach across Africa. But Rigas warned that success depends on bold leadership from governments: “If there are resources being undeveloped, push people to develop them. If they don’t want to, there’s someone else who will.”

    His comments were nuanced by Tim Gould, Chief Energy Economist at the International Energy Agency (IEA), who emphasized the need for a balanced and pragmatic approach to Africa’s energy development.

    “There’s extraordinary untapped potential, given the richness of the renewable resource across many parts of Africa. But we also recognize that the conversation about Africa’s development cannot end with renewables,” said Gould. “For the IEA, energy security is our core mandate. We don’t see security and sustainability at opposite ends of the spectrum.”

    This framing underscored a growing consensus that Africa’s energy mix must be as diverse as its development challenges, with Gould calling for “integrated development of energy systems” that balance affordability, sustainability and sovereignty.

    Namibia’s Petroleum Commissioner Maggy Shino offered a compelling national perspective, highlighting how the country’s nascent oil sector could be a springboard for economic transformation, particularly through the development of specialized skills and long-term industrial capacity.

    “We are going to establish Lüderitz as an energy hub – that’s where we’re putting the infrastructure to evacuate the green hydrogen we will produce in Namibia, as well as the infrastructure for developing the petrochemical industry,” she said.

    Shino emphasized that resource revenues should be leveraged strategically to build the country’s future, not just to meet short-term needs. “We are at a time where Africa should move away from using revenues from resources to address the problems of today. They should be used as seed capital to grow the future.”

    Cheick-Omar Diallo, Leader Task Force Communication and Spokesperson for TotalEnergies on the East African Crude Oil Pipeline, defended the development as a sovereign decision by Uganda and Tanzania, emphasizing the company’s efforts to uphold environmental standards, minimize displacement and ensure local benefits.

    “We want to be a responsible operator – that means producing to the highest standards while addressing biodiversity and community concerns,” said Diallo. “This was not just a TotalEnergies project – it was a sovereign decision by Uganda and Tanzania. Once that decision is made, the question is how to implement it responsibly. We avoided sensitive areas along the pipeline route, and while displacement is never ideal, it is a reality of infrastructure projects.”

    The panel marked a fitting conclusion to the forum, blending urgency, realism and ambition. While global players like Energean and the IEA called for speed and pragmatism, African leaders insisted that the path forward must be driven by national priorities and long-term value creation.

    MIL OSI Africa –

  • MIL-OSI Africa: Enagol Joins Angola Oil & Gas (AOG) 2025 Amid Expansion into Angola’s Upstream Market

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

    LUANDA, Angola, May 15, 2025/APO Group/ —

    Energy services provider Enagol has joined the Angola Oil & Gas (AOG) conference – the country’s premier industry event – as a Bronze Sponsor, reflecting its commitment to collaboration and portfolio growth. Operating under a mission to promote the sustainable development of Angola, the company is not only supporting major infrastructure projects but Angola’s goal to sustain oil output above one million barrels per day.

    With over 120 completed projects for national and international clients and 18 years’ experience in the Angolan market, Enagol plays an instrumental role in the country’s oil and gas industry. As an energy services provider, the company is both strengthening and diversifying its offerings, with its expansion into the upstream sector set to support Angola’s production goals. Enagol was one of the non-operator winners in Angola’s 2023 bid round. The country’s upstream regulator the National Oil, Gas & Biofuels Agency announced the results of the bid round in August 2024, with Enagol securing a 10% stake in Block CON 8 and Block KON 19, respectively. In collaboration with major operators including Etu Energias, Effimax Energy and Grupo Simples Oil for CON 8 and ACREP and Afentra for KON 19, the company will explore and develop the blocks.

    Beyond the upstream sector, Enagol has had a hand in several impactful oil, gas and logistics projects in Angola. Enagol also provided support for the Angola LNG Gas Treatment Plant in Soyo. The company provided Non-Destructive Testing (NDT) inspection services, ensuring the integrity of critical infrastructure. Angola LNG is the country’s sole operating LNG facility. Enagol has also provided servies for the TotalEnergies-led Block 17, ensuring the integrity of the FPSOs at the asset.

    The company’s AOG 2025 sponsorship aligns with its ambition to broaden its portfolio and support Angola’s oil and gas ambitions. As the largest event of its kind in the country, AOG 2025 offers various opportunities for networking, engagement and deal-signing. Enagol’s participation not only underscores its commitment to the industry but reinforces AOG 2025’s role as a platform for dialogue and dealmaking.

    AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    MIL OSI Africa –

  • MIL-OSI Africa: Development Bank of Nigeria visits African Development Bank to benchmark sustainability and resilience into financing

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

    ABIDJAN, Ivory Coast, May 15, 2025/APO Group/ —

    A delegation of eight officials from the Development Bank of Nigeria (DBN) recently concluded a five-day study visit to the African Development Bank headquarters (www.AfDB.org) in Abidjan, Cote d’Ivoire. The visit, jointly hosted by the Climate Change and Green Growth Department and the Financial Sector Development Department, focused on sharing tools and best practices for integrating climate and sustainability considerations into the institution’s financial operations

    Through the African Financial Alliance on Climate Change (AFAC) (https://apo-opa.co/4dCVDFL), the African Development Bank offers technical assistance to African financial institutions to help them manage climate-related risks and unlock opportunities in green investments.

    Africa remains highly vulnerable to the impacts of climate change, with climate-induced losses projected to reach up to $50 billion annually by 2030, equivalent to as much as 15% of the continent’s GDP. Despite this vulnerability, Africa holds immense potential for sustainable investment, leveraging its abundant natural capital, including land, minerals, and renewable energy resources. Mobilizing domestic capital towards long-term sustainable investments is key to realizing this potential.

    Public development banks are instrumental in steering capital toward priority sectors by de-risking innovative and sustainable investments.

    Batchi Baldeh, Director of Power Systems Development and DBN board member, remarked, “Through targeted investments, the African Development Bank is committed to strengthening institutions such as the Development Bank of Nigeria to foster youth employment and drive resilient and sustainable development.”

    Dr. Anthony Nyong, Director of the Climate Change and Green Growth Department, emphasized the importance of peer learning among African institutions. “The Bank’s Ten-Year Strategy serves as a framework to deepen regional and global partnerships and expand access to concessional financing from mechanisms such as the Green Climate Fund. To this end, the Bank provides technical assistance to regional and national financial institutions to create green jobs and build resilience into their operations,” he said.

    Ahmed Attout, Director of Financial Sector Development at the Bank, said: “The Development Bank of Nigeria remains a key strategic partner of the Bank in the implementation of flagship programs that are geared at expanding access to finance for underserved sections of the society, especially Women and Youth in Nigeria. Visits like this reinforce our partnership and strengthen our impact, and we look forward to building on the opportunities identified this week”.

    Jeremiah Dan-Okayi, DBN Head of Strategy and Policy, remarked that this visit was timely for the implementation of its green finance strategy. Beyond technical knowledge, the visit also opened new avenues for collaboration to strengthen our role in building a more resilient and inclusive financial system in Nigeria”, he said.

    The African Development Bank continues to rally partners through the African Financial Alliance on Climate (AFAC) to provide technical assistance to regional financial institutions to increase financing for sustainable investments.

    MIL OSI Africa –

  • MIL-OSI Global: How a toxic seaweed choking Caribbean beaches could become a valuable resource

    Source: The Conversation – UK – By Emily Wilkinson, Principal Research Fellow, ODI Global

    Marc Bruxelle/Shutterstock

    Each year, between March and October, large amounts of brown seaweed called sargassum wash up on the shores of Caribbean islands – choking beaches, damaging marine life and threatening tourism and public health. But a number of local entrepreneurs are hoping the seaweed could create an economic opportunity.

    From the coast of west Africa to the Caribbean Sea and the Gulf of Mexico, climate change is warming the temperature of the ocean. Seas are also becoming more acidic as water absorbs carbon dioxide. This all results in more intense growth of sargassum in the tropical Atlantic.

    Small Caribbean nations are among the hardest hit. With 20 million tonnes of this seaweed washing up on the beaches in 2024, sargassum is fuelling an economic and public health crisis.

    The piles of noxious seaweed on the Caribbean islands’ white sandy beaches are putting off visitors to these islands and probably dampening tourism revenues.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    The fishing sector is also suffering, with blooms of seaweed getting caught up in fishing nets, often ripping them due to the weight of the seaweed. This makes it hard for fishers to catch fish and make a living.

    The sheer volume of sargassum left to decompose on land produces toxic fumes that have forced people on islands like Guadeloupe to leave their homes. These toxic fumes have been linked to serious health issues including respiratory infections, sleep apnoea and even preeclampsia (high blood pressure during pregnancy).

    The sargassum problem is just one of many slow-onset events that are being exacerbated by climate change. But gradual changes get much less attention or resources to address the consequences than, say, alarming wildfires or flash floods.

    Slow-onset events are also much harder to quantify than climate-change-induced extreme weather, such as worsening hurricanes or floods. Our team at ODI Global, a thinktank, recently published a study that estimated the cost of these at US$2,000 (£1,500) per person. Calculating the tourism lost each year due to seaweed inundation is trickier.



    Read more:
    Extreme weather has already cost vulnerable island nations US$141 billion – or about US$2,000 per person

    Despite these challenges, through small-scale, locally developed solutions, as well as government policies that support small businesses including helping them access climate finance, entrepreneurs can find sustainable solutions to help their populations thrive in an era of climate change.

    Legena Henry, a lecturer at the University of the West Indies in Barbados, uses sargassum to produce a biofuel that can power cars. Johanan Dujon, the founder and chief executive of St. Lucia-based Algas Organics sells plant tonics made from sargassum and is trialling methods to convert sargassum into paper.

    Meanwhile, other innovations are helping to minimise the impacts of sargassum in the region.

    Andrés León, founder of SOS Carbon, a spin-off organisation from the mechanical engineering department at the Massachusetts Institute of Technology, has designed a boat-based harvester to collect sargassum at sea to stop it from beaching and causing damage onshore.

    Some islands, such as Jamaica, are using early warning systems, typically used to predict hurricanes, to predict the ocean currents that might bring a bumper arrival of the seaweed to their shores. This could give fishers up to 30 days notice of just how bad the inundation will be.

    Barriers to scale up

    But while small businesses are emerging, turning them into larger enterprises across the region remains difficult. As usual, small island nations struggle to get funding because investors think the projects are too small and won’t make enough money.

    As Legena Henry recently told us on the Small Island Big Picture podcast, spending a few million dollars (as opposed to a few hundred million dollars) can feel administratively cumbersome for funders as they often have limited administrative capacity and large sums of money to manage.

    Another issue is ensuring the benefits from any sargassum solutions flow into the affected Caribbean islands to support local growth and economic development.

    Several opportunities exist for small island nations to generate some income from sargassum. They could, for example, sell licences to permit companies to harvest sargassum within their exclusive economic zones, which can stretch around many islands for hundreds of nautical miles.

    They can also sell licences to businesses trialling or operating new sargassum technologies within their exclusive economic zones — for example, SOS Carbon has a patent pending for technology designed to sink sargassum to the seabed to store carbon.

    Will sargassum continue to be a nuisance, or could it be an important renewable natural resource? It’s not yet clear.

    Ideally, as with other renewable natural resources in developing countries, small island nations that own the sargassum need to find ways to extract a fair share of the value from that ownership, as well as selling to external companies that come in, remove it and profit from it.

    With tax incentives and low-cost finance for domestic innovators, small islands can manage and sell sargassum and then use the proceeds to develop climate resilience measures.

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

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 45,000+ readers who’ve subscribed so far.

    Emma Tompkins received funding for work on sargassum from the Economic and Social Research Council GCRF (Grant number: ES/T002964/1)

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

    – ref. How a toxic seaweed choking Caribbean beaches could become a valuable resource – https://theconversation.com/how-a-toxic-seaweed-choking-caribbean-beaches-could-become-a-valuable-resource-253874

    MIL OSI – Global Reports –

  • MIL-OSI Global: Not every US president gets a free private jet, but the Gulf states have boosted US economic dominance for decades

    Source: The Conversation – UK – By Adam Hanieh, Professor of Political Economy and Global Development, Institute of Arab and Islamic Studies, University of Exeter

    After signing a US$142 billion (£107 billion) arms deal with Saudi Arabia, Donald Trump said the US bond with that country was “more powerful than ever”. He was also reportedly quite pleased with the gift of a private jet from Qatar.

    But these arrangements are just the latest developments in a long history of the Gulf monarchies supporting the architecture of American global power. And while the six Gulf states (Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain and Oman) have recently started redirecting their energy and trade ties eastward, especially towards China, they remain deeply embedded in the US-led financial order.

    As I explore in my recent book, Crude Capitalism, the Gulf states were instrumental in the rise of American global economic dominance.

    With oil emerging as the dominant fossil fuel through the second half of the 20th century, the Gulf’s nationalised petroleum industries generated vast amounts of income. Much of this was invested back into the US financial markets, particularly treasury bonds (essentially a long-term loan to the US government). This gave the US access to cheap foreign capital and reinforced the global dominance of the dollar.

    Put simply, the Gulf states were not peripheral to the US’s growing financial power – they were an essential contributor.

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    This arrangement also involved a political bargain: US military protection for the Gulf monarchies in exchange for investment flows and energy stability. The result was a web of US military bases across the region and a deep alignment between authoritarian Gulf regimes and western strategic interests.

    But much has changed in the past two decades. China’s rise as a global manufacturing hub has driven a huge increase in oil consumption, shifting the direction of the Gulf’s oil exports away from the US and western Europe towards China and east Asia.

    These energy ties have been accompanied by much deeper trade interdependence and a huge increase in Chinese investments in the Gulf. In 2005, China was responsible for just 9% of the Gulf’s imports. Today, that figure is over 20%, while the US and EU’s share has fallen from 45% to 16%. China has also recently overtaken the US as the largest foreign investor in Saudi Arabia.

    From Beijing’s perspective, the Gulf is a critical energy lifeline. From the Gulf’s side, China’s continuing demand for oil, gas and petrochemicals is a vital part of its economic future.

    For the moment, that economic situation looks pretty robust. In 2024, Gulf countries held around US$800 billion in foreign reserves (foreign currencies and other assets), which is more than India or Switzerland. Their sovereign wealth funds (a state owned investment fund) manage another US$4.9 trillion of assets.

    Private wealth, including that held by ruling families, stood at US$2.8 trillion in 2022, and is expected to reach US$3.5 trillion by 2027.

    Much of this money is invested domestically, in sectors including infrastructure, real estate and renewable energy. But an astonishing amount flows directly into US markets.

    Oil be back

    According to US Treasury data, total Gulf holdings of American securities (bonds, stocks and corporate debt) rose from US$611 billion in 2017 to over US$1 trillion in 2024. Outside of Canada and financial hubs like London and Ireland, the Gulf is now the largest foreign investor in the US stock market.

    Another route through which Gulf wealth flows back into the US is via military procurement. According to the Stockholm International Peace Research Institute, the Gulf states accounted for 22% of all global arms imports between 2019 and 2023 – more than any other region in the world.

    Riyadh, money to build.
    Kashif Hameed/Shutterstock

    The US supplies the overwhelming majority of these weapons. In this way, Gulf spending supports the American military industry, and in return, these states become more closely tied to the US military’s umbrella.

    These deep military, financial and strategic ties help explain the real focus of Trump’s visit to the Gulf. Much of the discussion will have centred on massive investment pledges made by Gulf states to the US – including Saudi Arabia’s promise to invest up to US$600 billion, and the UAE’s commitment to a US$1.4 trillion investment over ten years.

    And such pledges reflect a broader agenda which involves expanding deals in artificial intelligence, critical minerals, energy infrastructure and advanced manufacturing.

    So Trump travelling to the region is not just about private jets and spectacle. It is about the continuing relevance of a structural relationship essential to American power, and a deepening financial integration between the Gulf and the US.

    For even as the Gulf reorients its energy flows eastward, it remains deeply tied to US finance, the US military industry and US assets. In an era of weakening US global power – and the possible spectre of a deeper clash with China – this is what will define Trump’s visit.

    Adam Hanieh 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. Not every US president gets a free private jet, but the Gulf states have boosted US economic dominance for decades – https://theconversation.com/not-every-us-president-gets-a-free-private-jet-but-the-gulf-states-have-boosted-us-economic-dominance-for-decades-256655

    MIL OSI – Global Reports –

  • MIL-OSI Global: Philippine elections leaves the Marcos-Duterte family feud still dominating politics

    Source: The Conversation – UK – By John Sidel, Professor of International and Comparative Politics, London School of Economics and Political Science

    With 317 congressional seats and nearly 18,000 local positions at stake, the May 12 midterm election results in the Philippines mean different things to people across the archipelago. But even a few hours after the unofficial results came in, the brute facts had already become clear.

    Local elections for municipal and city mayorships, provincial governorships and congressional seats predictably produced victories for entrenched local “dynasties”. The advantages of incumbency – control over the patronage resources and regulatory powers of the state – ensured reelection for many sitting mayors, governors and congress members.

    Midterm elections in the Philippines also include half of the seats in the nationally elected 24-member Senate. They thus serve simultaneously as tests for presidents halfway through their single six-year terms and previews of the next presidential election, in this case in 2028.

    The latest mid-terms have been notable for their – ultimately ambiguous – implications for a major family feud at the top of the country’s politics. This feud pits the family of current president Ferdinand “Bongbong” Marcos Jr. against that of his vice-president, Sara Duterte.

    The elections have failed to strengthen either family decisively, so their bitter rivalry is likely to continue throughout the remainder of Marcos’s term.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    This family feud dates back to late 2021. At that time, Duterte agreed to run as Marcos’s running mate for presidential elections the following year despite her clear lead in nationwide voter preference surveys.

    The Marcos-Duterte ticket won a landslide victory. They benefited from the endorsement and assistance of the incumbent president, Rodrigo Duterte, whose enduring popularity extended to his daughter Sara.

    But following Marcos’s inauguration in late June 2022, a rift between the two families began to open up. Marcos settled into his presidential role and began to distance himself from the signature policies of his predecessor.

    Instead of cultivating close ties with China, Marcos strengthened relations with the US. And instead of continuing Duterte’s so-called “war on drugs”, Marcos publicly spotlighted corruption in the Philippine National Police (PNP).

    By 2024, Marcos began to signal his government’s willingness to cooperate with the International Criminal Court in its investigation of Duterte’s role in the thousands of extrajudicial killings undertaken in the war on drugs. Then, in March 2025, Duterte was arrested and transferred to The Hague. He is due to stand trial in the coming months.



    Read more:
    Former Philippines president Rodrigo Duterte arrested for crimes against humanity – a blow against impunity

    Relations between the president and his vice-president have also broken down. Sara Duterte resigned from her cabinet post in 2024 amid corruption allegations, with subsequent months seeing escalating public hostilities between Marcos and herself. These included claims of death threats and assassination plots.

    The House of Representatives voted by a clear majority to impeach Duterte in February 2025, setting the stage for a Senate trial later in the year. Against this backdrop, the midterms served as a kind of pre-trial proxy war between the two families.

    The Dutertes fielded ten candidates for Senate, the so-called “Duterten”. They also endorsed two of the 12 candidates in the Marcos-backed Alyansa para sa Bagong Pilipinas (Alliance for a New Philippines). The campaign was dominated by mudslinging between the two camps in the media and on social media. And the final results have proved decidedly mixed.

    On the one hand, pro-Duterte voters came out in a show of force to support candidates in the slate backed by the former president. This was foreshadowed by Marcos’s declining popularity following the arrest of his predecessor and the impeachment of his vice-president.

    Longtime Duterte lieutenant, Christopher “Bong” Go, won reelection and the most votes of all candidates. Duterte’s former police chief, Ronald “Bato” dela Rosa, also secured another term with a third-place showing.

    The sixth-placed winner was Rodante Marcoleta, another Duterte-backed candidate. He is a television broadcaster and member of the Iglesia Ni Cristo, an independent church whose nearly 3 million members have long been viewed as a single solid voting bloc.

    Two Alyansa candidates, Imee Marcos, the president’s estranged sister, and Camille Villar, daughter of wealthy real-estate mogul and former senator Manuel “Manny” Villar, also won seats with the explicit blessings of the Dutertes.

    On the other hand, the Marcos camp won more seats and some added strength in its battle with the Dutertes for control of the Senate ahead of Sara Duterte’s trial. Erwin Tulfo, a popular television news anchor and Marcos’s former secretary of social welfare and development, won the fourth-place seat.

    He was accompanied by four former senators also affiliated with Alyansa. These included ex-PNP chief Panfilo “Ping” Lacson, longtime television personality Vicente “Tito” Sotto III, Pia Cayetano with her base in wealthy Taguig City, and former action film star Lito Lapid.

    But, overall, the mid-terms do not seem to have improved the prospects for the successful conviction of Sara Duterte. Alongside the winning Alyansa candidates, voters also returned two prominent opposition candidates, Paolo “Bam” Aquino and Francis “Kiko” Pangilinan, to the Senate. They oppose both the Marcos administration and the Duterte camp.

    At the same time, there are questions about the allegiances of several of the 12 senators already seated. This adds an additional challenge in the search for the 16 senators required to secure impeachment.

    Duterte – and her father, just reelected as Davao’s mayor while awaiting trial in The Hague – also still enjoy support among many voters, especially in their southern home base in Mindanao.

    The 24 elected members of the Senate are sensitive to public opinion and their own reelection prospects in 2028 and beyond. So, many of them will probably choose to hedge their bets and see where the winds are blowing as the trial unfolds.

    The family feud dominating the national political scene looks set to remain unresolved over the months and years ahead.

    John Sidel 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. Philippine elections leaves the Marcos-Duterte family feud still dominating politics – https://theconversation.com/philippine-elections-leaves-the-marcos-duterte-family-feud-still-dominating-politics-256383

    MIL OSI – Global Reports –

  • MIL-OSI Global: Nature’s Ozempic: What and how you eat can increase levels of GLP-1 without drugs

    Source: The Conversation – Canada – By Mary J. Scourboutakos, Adjunct Lecturer in Family and Community Medicine, University of Toronto

    GLP-1 is a good example of how it’s not just what you eat that matters, it’s also how you eat it. (Shutterstock)

    Despite the popularity of semaglutide drugs like Ozempic and Wegovy for weight loss, surveys suggest that most people still prefer to lose weight without using medications. For those preferring a drug-free approach to weight loss, research shows that certain nutrients and dietary strategies can naturally mimic the effects of semaglutides.

    Increased intakes of fibre and monounsaturated fats (found in olive oil and avocadoes) — as well as the time of day when foods are eaten, the order that foods are eaten in, the speed of eating and even chewing — can naturally stimulate increased production of the same hormone responsible for the effects of semaglutide drugs.



    Read more:
    Ozempic, the ‘miracle drug,’ and the harmful idea
    of a future without fat

    As a family physician with a PhD in nutrition, I translate the latest nutrition science into dietary recommendations for my patients. A strategic approach to weight loss rooted in the latest science is not only superior to antiquated calorie counting, but also capitalizes on the same biological mechanisms responsible for the success of popular weight-loss drugs.

    Increased intake of monounsaturated fats (found in olive oil and avocadoes) is one factor in naturally stimulating GLP-1 production — the same hormone responsible for the effects of semaglutide drugs like Ozempic.
    (Stevepb/Pixabay)

    Semaglutide medications work by increasing the levels of a hormone called GLP-1 (glucagon-like peptide 1), a satiety signal that slows digestion and makes us feel full. These drugs also simultaneously decrease levels of an enzyme called DPP-4, which inactivates GLP-1.

    As a result, this “stop eating” hormone that naturally survives for only a few minutes can survive for an entire week. This enables a semi-permanent, just-eaten sensation of fullness that consequently leads to decreased food intake and, ultimately, weight loss.

    Nevertheless, medications aren’t the only way to raise GLP-1 levels.

    What you eat

    Fibre — predominantly found in beans, vegetables, whole grains, nuts and seeds — is the most notable nutrient that can significantly increase GLP-1. When fibre is fermented by the trillions of bacteria that live in our intestines, the resultant byproduct, called short chain fatty acids, stimulates the production of GLP-1.

    This may explain why fibre consumption is one of the strongest predictors of weight loss and has been shown to enable weight loss even in the absence of calorie restriction.

    Monounsaturated fats — found in olive oil and avocado oil — are another nutrient that raises GLP-1. One study showed that GLP-1 levels were higher following the consumption of bread and olive oil compared to bread and butter. Though notably, bread consumed with any kind of fat (be it from butter or even cheese) raises GLP-1 more than bread alone.

    Another study showed that having an avocado alongside your breakfast bagel also increases GLP-1 more so than eating the bagel on its own. Nuts that are high in both fibre and monounsaturated fats, like pistachios, have also been shown to raise GLP-1 levels.

    How you eat

    However, the specific foods and nutrients that influence GLP-1 levels are only half the story. GLP-1 is a good example of how it’s not just what you eat that matters, it’s also how you eat it.

    The Mediterranean diet outperformed semaglutide drugs at lowering risk of cardiac events.
    (Shutterstock)

    Studies show that meal sequence — the order foods are eaten in — can impact GLP-1. Eating protein, like fish or meat, before carbohydrates, like rice, results in a higher GLP-1 level compared to eating carbohydrates before protein. Eating vegetables before carbohydrates has a similar effect.

    Time of day also matters, because like all hormones, GLP-1 follows a circadian rhythm. A meal eaten at 8 a.m. stimulates a more pronounced release of GLP-1 compared to the same meal at 5 p.m. This may partly explain why the old saying “eat breakfast like a king, lunch like a prince and dinner like a pauper” is backed by evidence that demonstrates greater weight loss when breakfast is the largest meal of the day and dinner is the smallest.

    The speed of eating can matter, too. Eating ice cream over 30 minutes has been shown to produce a significantly higher GLP-1 level compared to eating ice cream over five minutes. However, studies looking at blood sugar responses have suggested that if vegetables are eaten first, the speed of eating becomes less important.

    Even chewing matters. One study showed that eating shredded cabbage raised GLP-1 more than drinking pureed cabbage.

    Not as potent as medication

    While certain foods and dietary strategies can increase GLP-1 naturally, the magnitude is far less than what is achievable with medications. One study of the GLP-1 raising effects of the Mediterranean diet demonstrated a peak GLP-1 level of approximately 59 picograms per millilitre of blood serum. The product monograph for Ozempic reports that the lowest dose produces a GLP-1 level of 65 nanograms per millilitre (one nanogram = 1,000 picograms). So medications raise GLP-1 more than one thousand times higher than diet.

    Nevertheless, when you compare long-term risk for diseases like heart attacks, the Mediterranean diet lowers risk of cardiac events by 30 per cent, outperforming GLP-1 medications that lower risk by 20 per cent. While weight loss will always be faster with medications, for overall health, dietary approaches are superior to medications.

    The following strategies are important for those trying to lose weight without a prescription:

    • Eat breakfast

    • Strive to make breakfast the largest meal of the day (or at least frontload your day as much as possible)

    • Aim to eat at least one fibre-rich food at every meal

    • Make olive oil a dietary staple

    • Be mindful of the order that you eat foods in, consume protein and vegetables before carbohydrates

    • Snack on nuts

    • Chew your food

    • Eat slowly

    While natural approaches to raising GLP-1 may not be as potent as medications, they provide a drug-free approach to weight loss and healthy eating.

    Mary J. Scourboutakos 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. Nature’s Ozempic: What and how you eat can increase levels of GLP-1 without drugs – https://theconversation.com/natures-ozempic-what-and-how-you-eat-can-increase-levels-of-glp-1-without-drugs-253728

    MIL OSI – Global Reports –

  • MIL-OSI Global: There’s growing evidence of possible life on other planets – here’s why you should still be sceptical

    Source: The Conversation – UK – By Manoj Joshi, Professor of Climate Dynamics, University of East Anglia

    Artist’s impression of K2-18 b. NASA, ESA, CSA, Joseph Olmsted (STScI)

    A team of researchers has recently claimed they have discovered a gas called dimethyl sulphide (DMS) in the atmosphere of K2-18b, a planet orbiting a distant star.

    The University of Cambridge team’s claims are potentially very exciting because, on Earth at least, the compound is produced by marine bacteria. The presence of this gas may be a sign of life on K2-18b too – but we can’t rush to conclusions just yet.

    K2-18b has a radius 2.6 times that of Earth, a mass nearly nine times greater and orbits a star that is 124 light years away. We can’t directly tell what kinds of large scale characteristics it has, although one possibility is a world with a global liquid water ocean under a hydrogen-rich atmosphere.

    Such a world might well be hospitable to life, but different ideas exist about the properties of this planet – and what that might mean for a DMS signature.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Claims for the detection of life on other planets go back decades.

    In the 1970s, one of the scientists working on the Viking mission to Mars claimed that his experiment had indicated there could be microorganisms in the Martian soil. However, these conclusions were widely refuted by other researchers.

    In 1996, a team said that microscopic features resembling bacteria had been found in the Martian meteorite ALH84001. However, subsequent studies cast significant doubt on the discovery.

    Since the early 2000s there have also been repeated claims for the detection of methane gas in the atmosphere of Mars, both by remote sensing by satellites and by in-situ observations by rovers.

    Methane can be produced by several mechanisms. One of these potential sources involves production by microorganisms. Such sources are described by scientists as being “biotic”. Other sources of methane, such as volcanoes and hydrothermal vents, don’t require life and are said to be “abiotic”.

    The claimed detection of phosphine gas in Venus’ atmosphere has been proposed as a biosignature.
    Nasa

    Not all of the previous claims for evidence of extraterrestrial life involve the red planet. In 2020, Earth-based observations of Venus’s atmosphere implied the presence of low levels of phosphine gas.

    Because phosphine gas can be produced by microbes, there was speculation that life might exist in Venus’s clouds. However, the detection of phosphine was later disputed by other scientists.

    Proposed signs of life on other worlds are known as “biosignatures”. This is defined as “an object, substance, and/or pattern whose origin specifically requires a biological agent”. In other words, any detection requires all possible abiotic production pathways to be considered.

    In addition to this, scientists face many challenges in the collection, interpretation, and planetary environmental context of possible biosignature gases. Understanding the composition of a planetary atmosphere from limited data, collected from light years away, is very difficult.

    We also have to understand that these are often exotic environments, with conditions we do not experience on Earth. As such, exotic chemical processes may occur here too.

    In order to characterise the atmospheres of exoplanets, we obtain what are called spectra. These are the fingerprints of molecules in the atmosphere that absorb light at specific wavelengths.

    Once the data has been collected, it needs to be interpreted. Astronomers assess which chemicals, or combinations thereof, best fit the observations. It is an involved process and one that requires lots of computer based work. The process is especially challenging when dealing with exoplanets, where available data is at a premium.

    Once these stages have been carried out, astronomers can then assign a confidence to the likelihood of a particular chemical signature being “real”. In the case of the recent discovery from K2-18b, the authors claim the detection of a feature that can only be explained by DMS with a likelihood of greater than 99.9%. In other words, there’s about a 1 in 1,500 chance that this feature is not actually there.

    While the team behind the recent result favours a model of K2-18b as an ocean world, another team suggests it could actually have a magma (molten rock) ocean instead. It could also be a Neptune-like “gas dwarf” planet, with a small core shrouded in a thick layer of gas and ices. Both of these options would be much less favourable to the development of life – raising questions as to whether there are abiotic ways that DMS can form.

    A higher bar?

    But is the bar higher for claims of extraterrestrial life than for other areas of science? In a study claiming the detection of a biosignature, the usual level of scientific rigour expected for all research should apply to the collection and processing of the data, along with the interpretation of the results.

    However, even when these standards have been met, claims that indicate the presence of life have in the past still been meet with high levels of scepticism. The reasons for this are probably best summed up by the phrase “extraordinary claims require extraordinary evidence”. This is attributed to the American planetary scientist, author and science communicator Carl Sagan.

    While on Earth there are no known means of producing DMS without life, the chemical has been detected on a comet called 67/P, which was studied up close by the European Space Agency’s Rosetta spacecraft. DMS has even been detected in the interstellar medium, the space between stars, suggesting that it can be produced by non-biological, or abiotic, mechanisms.

    Given the uncertainties about the nature of K2-18b, we cannot be sure if the presence of this gas might simply be a sign of non-biological processes we don’t yet understand.

    The claimed discovery of DMS on K2-18b is interesting, exciting, and reflects huge advances in astronomy, planetary science and astrobiology. However, its possible implications mean that we have to consider the results very cautiously. We must also entertain alternative explanations before supporting such a profound conclusion as the presence of extraterrestrial life.

    Manoj Joshi receives funding from the UK Natural Environment Research Council (NERC)

    Maria di Paolo receives funding from the UK Engineering and Physical Sciences Research Council (EPSRC).

    Andrew Rushby 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. There’s growing evidence of possible life on other planets – here’s why you should still be sceptical – https://theconversation.com/theres-growing-evidence-of-possible-life-on-other-planets-heres-why-you-should-still-be-sceptical-256050

    MIL OSI – Global Reports –

  • MIL-OSI Global: Why walking may be the key to a long and healthy life

    Source: The Conversation – UK – By Thomas E. Yates, Professor of Physical Activity, Sedentary Behaviour and Health, Diabetes Research Centre, University of Leicester

    PeopleImages.com – Yuri A/Shutterstock

    Throughout history, few things have inspired as much quackery as the pills, potions and promises to slow ageing, boost vitality, or extend life. Yet, amid the hype and hollow claims, a few golden truths remain. As far back as 400 BC, Hippocrates, widely considered the father of modern medicine, famously said, “Walking is man’s best medicine.” More than two millennia later, science is finally catching up with that wisdom.

    People who walk more than 8,000 steps a day reduce their risk of premature death by half, compared to those who walk fewer than 5,000 steps – the threshold for a sedentary lifestyle. But beyond 8,000 steps, the benefits tend to plateau, which challenges the long-held belief in the magic of 10,000 steps a day.

    In fact, that benchmark wasn’t born of science, but of marketing. The 10,000-step goal originated from a 1960s Japanese advertising campaign for the world’s first commercial pedometer called the manpo-kei, which literally translates to “10,000 steps meter”.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Lately, researchers have been exploring a simple but important question: does every step count the same, or can walking faster — at a brisk pace of more than 100 steps a minute, or around three to four miles per hour — actually give you more health benefits?

    For ageing and heart health there is mounting evidence that pace really matters. Simply converting a 14-minute daily stroll into a seven-minute brisk walk has been associated with a 14% reduction in heart disease.

    An analysis of more than 450,000 adults in the UK used a genetic marker of biological age to reveal that by middle age, a lifetime of brisk walking reduces biological age by up to 16 years compared to a lifetime of slow walking.

    A follow-up study suggested it is never to late to benefit from brisk walking. An inactive 60-year woman or man was modelled to gain around an additional year of life expectancy through simply introducing a ten minute brisk walk into their daily routine.

    The power of brisk walking can also be seen in its ability to predict future health outcomes. It has been shown to be a stronger predictor of the risk of dying from heart disease than traditional predictors such as blood pressure and cholesterol, while also being a more powerful predictor than many other measures of lifestyle – including diet, obesity levels, and total physical activity.

    In fact, perhaps the single most informative question a doctor could ask their patient is: “How fast is your walking pace in comparison to other people?”

    Halo of benefits

    But brisk walking may not provide additional benefits for all outcomes or in all contexts. For example, the benefit of brisk walking over light-intensity walking in lowering cancer risk is less certain.

    A recent study suggested that although total walking was associated with reduction in 13 different types of cancers, there was no added value from brisk walking. Breaking prolonged sitting with light-intensity pottering around has also been shown to have profound impacts on metabolic effects.

    Importantly, walking has a halo of benefits beyond physical health. It can help with brain activity, doubling creative idea production. Indeed, the systems in the brain that support memory and imagination are also the same as those activated during whole body movement.

    Many of us already harness this very phenomenon, using walking to mull over problems and arrive at solutions or insights that would otherwise remain elusive. Context is also important here, with the mental health and cognitive benefits of walking thought to be enhanced when walking through nature.

    So called “nature prescriptions” for clinical populations have harnessed these principles to increase walking activity and improving both mental and physical health.

    Physical inactivity is a major driver of the modern epidemic of long-term conditions, such as diabetes and heart disease, that are now observed in industrialised and developing economies alike. It has been estimated that 3.9 million premature deaths could be averted annually through targeting physical inactivity.

    However, instead of prevention, medical systems are largely based on management – people get ill and are then prescribed medicines to treat the illness. On average it takes $1 billion to bring a new drug to market which, despite these research and development costs, still go on to generate sizeable profits for shareholders showing the scale of the health economy.

    If just a fraction of these costs were diverted into public health initiatives aimed at increasing walking and physical activity opportunities for all, the need for an ever more sophisticated medical management ecosphere may retreat.

    In short, when searching for the elixir of life, you could do worse than looking down at your feet.

    Prof Yates receives funding from the The National Institute for Health and Care Research (NIHR) Leicester Biomedical Research Centre

    – ref. Why walking may be the key to a long and healthy life – https://theconversation.com/why-walking-may-be-the-key-to-a-long-and-healthy-life-255655

    MIL OSI – Global Reports –

  • MIL-OSI USA: VIDEO: Rep. Castor Slams GOP Plan to Rip Health Care from Nearly 14 Million Americans to Fund Tax Cuts for the Ultra-Rich

    Source: United States House of Representatives – Reprepsentative Kathy Castor (FL14)

    WASHINGTON, D.C. – After more than 26 hours of debate in the Energy and Commerce Committee, Rep. Kathy Castor (FL-14) delivered closing remarks exposing the impact of House Republicans’ plan to gut health care for nearly 14 million Americans. The House Republicans’ budget proposal slashes roughly $800 billion from Medicaid and other critical health care initiatives that serve low- and middle-income families to pay for $4.5 trillion in tax cuts that overwhelmingly benefit billionaires and big corporations.

    “Almost 14 million Americans will lose their health coverage to give the richest Americans a large, permanent tax cut, while working families will see eventual tax increases. They’re going to add $5 trillion to the debt. It’s fiscally irresponsible, and it is morally wrong,” said Castor. “Now, at the outset of our hearing that began over 24 hours ago, Democrats highlighted folks back home who rely on Medicaid, and the Republicans protested. They said none of those people are going to lose their health care. Well, here’s what we know. The nonpartisan, independent CBO (Congressional Budget Office) says 14 million Americans will lose care. And why won’t people believe what the Republicans are saying? It’s because the Republicans have a track record of opposing affordable health care, while Democrats have championed the health of our neighbors. We do not believe that you should be bankrupt if you get a diagnosis. This is smart policy. We want people to be productive and healthy.”

    Watch Castor’s remarks here.

    A transcript of her full remarks follows below:

    “Well, thank you, Mr. Chairman. This amendment says that none of the provisions of this Title shall take effect if any of the provisions result in reduced access to coverage under the Health Title. And as we bring this debate in for a landing today, I want to say to my Democratic colleagues, I’m so proud to stand with you. You’re eloquent and fearless. And to Chairman Guthrie and my Republican colleagues, I want to thank you. I appreciate your respectful tenor of the debate. 

    “But we’ve learned a lot since the Republicans sprung this cruel and costly tax and spending package on Americans late in the dark of night, on Mother’s Day no less, rushing it to committee without a hearing, shrouding the health care debate—starting that at 1 AM in the middle of the night—but here’s what we know. Almost 14 million Americans will lose their health coverage to give the richest Americans a large, permanent tax cut, while working families will see eventual tax increases. They’re going to add $5 trillion to the debt. It’s fiscally irresponsible, and it is morally wrong. 14 million Americans. That’s the combined population of the states of Kentucky and Virginia. Some of the largest health care cuts ever proposed in American history, harming not just our neighbors, but providers, doctors, nurses, hospitals, therapists, who provide care. 

    “So this is going to impact all Americans. Here’s how. They’re going to bury people in costly paperwork. You slip up? No care. [They’re] Going to make it harder to enroll. No care. They’re going to shrink the enrollment periods. No care. They’re going to choke off the ability of states and providers to fund care. So no care there either. They’re going to raise premiums and price people out, so they lose care. Eligible parents and families will be forced to jump through hoops when instead, they should be focused on setting their kids up for success in life. It will be harder for families to access long-term care, or [to] stay in their homes and live in dignity. 

    “Now, at the outset of our hearing that began over 24 hours ago, Democrats highlighted folks back home who rely on Medicaid, and the Republicans protested. They said none of those people are going to lose their health care. Well, here’s what we know. The nonpartisan, independent CBO says 14 million Americans will lose care. And why won’t people believe what the Republicans are saying? It’s because the Republicans have a track record of opposing affordable health care, while Democrats have championed the health of our neighbors. We do not believe that you should be bankrupt if you get a diagnosis. This is smart policy. We want people to be productive and healthy. 

    “In fact, you can go all the way back to the 1960s when it was a Democratic president and a Democratic Congress, who originally passed Medicaid and Medicare into law. Or maybe something more in the modern era. [In] 2010, when a Democratic president and a Democratic Congress, as the rolls of the uninsured reached 25 percent in the state of Florida, passed the Affordable Care Act to outlaw discrimination for preexisting conditions. We passed a law that said kids can stay on their parents’ plan to age 26. We expanded Medicaid. Twenty-one million Americans now have health coverage because of Medicaid expansion. That ultimately cut the uninsured rate in half. We’re now at a historic low in the number of uninsured. We were constraining spending. 

    “But see, the Republicans have a track record, because they fought it every step of the way. There wasn’t one Republican vote for the Affordable Care Act. And then, go to 2017, the first Trump Administration, Republicans in this committee fought to repeal the ACA. Contrast that to the Democratic record. We passed the Inflation Reduction Act, [including] key reforms to lower health care costs. [We] directed Medicare to negotiate prices for the highest cost drugs. We capped the price of insulin at $35, a $2,000 cap for everyone on Medicare, and enhanced premium tax credits. The track record, again, not one GOP vote here. 

    “In 2021, [in] the midst of a maternal mortality crisis, we gave states a new option to provide Medicaid postpartum coverage. [Now here] In 2025, at the outset of this Congress, the Republicans are turning a blind eye. They’re going down the same old path to rip health coverage away. It doesn’t have to be like this. [p]eople in America deserve affordable, reliable care, and that’s what we intend to fight for. From this day forward, no matter if you pass this bill out of this committee, we’re not going to give up. We’re going to stand up for our neighbors back home. See them. See them, listen to them. Empower them. Support them. Don’t rip away their coverage to fund a massive tax giveaway for the wealthy.”

    MIL OSI USA News –

  • MIL-OSI: Michael Sandin Appointed Interim CFO of Serstech

    Source: GlobeNewswire (MIL-OSI)

    Serstech’s Chief Financial Officer, Simon Persson, will be on parental leave from June 1 to October 31, 2025. During this period, Michael Sandin will assume the role of interim CFO.

    Michael Sandin brings over 30 years of experience in finance, including roles as an accountant and as CEO of Outbrave Finance, based in Malmö. Michael has a degree in finance from Lund University in Sweden.

    “We are pleased to welcome Michael to the Serstech team during Simon’s temporary leave. His extensive experience will ensure continued financial leadership and stability during this period,” says Stefan Sandor, CEO of Serstech.

    For further information, please contact:
    Stefan Sandor,
    CEO, Serstech AB

    Phone: +46 739 606 067
    Email: ss@serstech.com

    or

    Thomas Pileby,
    Chairman of the Board, Serstech AB

    Phone: +46 702 072 643
    Email: tp@serstech.com
    or visit: www.serstech.com

    Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).

    About Serstech

    Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.

    Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com

    The MIL Network –

  • MIL-OSI: Baltic Horizon Fund publishes its NAV for April 2025

    Source: GlobeNewswire (MIL-OSI)

    The net asset value (NAV) per unit of the Baltic Horizon Fund (the Fund) decreased to EUR 0.6740 at the end of April 2025 (0.6769 as of 31 March 2025). The month-end total net asset value of the Fund was EUR 96.8 million (EUR 97.2 million as of 31 March 2025). A minor NAV decline stemmed from the decrease in fair value of the derivative financial instruments and expenses incurred due to the early partial bond redemption. The EPRA NRV as of 30 April 2025 stood at EUR 0.7200 per unit.

    In April 2025, the consolidated net rental income of the Fund remained at the same level, amounting to EUR 1.0 million (EUR 1.0 million in March 2025).

    At the end of April 2025, the Fund’s consolidated cash and cash equivalents amounted to EUR 8.2 million (31 March 2025: EUR 12.8 million). As of 30 April 2025, the total consolidated assets of the Fund were EUR 239.0 million (31 March 2025: EUR 243.2 million). The decrease is mainly related to early partial redemption of the bonds on 10 April 2025 in the amount of EUR 3 million.

    For additional information, please contact:

    Tarmo Karotam
    Baltic Horizon Fund manager
    E-mail tarmo.karotam@nh-cap.com
    www.baltichorizon.com

    The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. 

    Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com

    To receive Nasdaq announcements and news from Baltic Horizon Fund about its projects, plans and more, register on www.baltichorizon.com. You can also follow Baltic Horizon Fund on www.baltichorizon.com and on LinkedIn, Facebook, X and YouTube.

    The MIL Network –