Category: Business

  • MIL-OSI New Zealand: RBNZ Stats Alert Business Expectations Survey: Launch of regular publication set for 21 May

    Source: Reserve Bank of New Zealand

    RBNZ stats alert: 14 May 2025 – Kia ora koutou, On 21 May 2025 we will be launching the Tara-ā-Umanga Business Expectations Survey (BES), publishing results for the June quarter. Publication will be in advance of the 28 May Monetary Policy Statement, in line with the timing of our other expectations surveys.

    We would like to thank all the businesses that have made the development and launch of the new Tara-ā-Umanga Business Expectations Survey possible and enabled us to build a representative sample survey of New Zealand businesses.

    This new survey includes several hundred businesses from different sectors around the country, from small to large firms. It is separate from the existing Survey of Expectations focusing on expert forecasters and economists, and industry leaders (Table M14, from 1987 onwards), which will continue.

    Business Expectations Survey publication on 21 May, after 3pm

    The launch of BES marks the beginning of the regular quarterly publication of the survey and the conclusion of a successful development phase that involved public consultation and pilots to build the sample and test content and methodology. The launch will feature a new web table with population estimates of economy-wide expectations:

    M15 Business Expectations Survey

    The sample size and design enable new breakdowns by business size and industry, which will be published in the data file accompanying Table M15. The initial publication will include our Stats Insight, a background note as a guide to interpret the new survey results, and a description of our survey methodology.

    It should be noted that while this survey represents a significant uplift in our expectations data, more observations are needed (beyond the short historical timeseries that will be available at launch) to enable us to estimate the relationship between these data and ultimate inflation outcomes. We anticipate that the results of this survey will become key statistical series used by central banks, researchers, financial institutions and commentators.

    Background information

    Inflation expectations are important because households and businesses reflect their expectations in their price- and wage-setting decisions. Improving the quality of our expectation surveys is part of the wider response to our 2022 review of how we formulate and implement our monetary policy. In this review, we identified several areas where better data could support high quality monetary policy decision-making.

    For further information please see: Tara-ā-Umanga Business Expectations Survey: Survey design and development: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=b66e552e95&e=f3c68946f8

    RBNZ’s existing expectations surveys:
    Survey of expectations (M14): https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=16ac7517ae&e=f3c68946f8
    Household inflation expectations (H1): https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=da9067ab97&e=f3c68946f8
     

    Additional wholesale interest rate data now being published

    From 12 May 2025, the Reserve Bank of New Zealand – Te Pūtea Matua began publishing two new daily series on Table B2, making more data available on wholesale interest rates that apply to large institutions in New Zealand markets.

    The new daily series on Table B2 are:

    Overnight Deposit Rate: the rate of remuneration ESAS account holders receive for funds that are held overnight in their account at the Reserve Bank of New Zealand – Te Pūtea Matua. For further information please see: What is ESAS
     
    Overnight Reverse Repo Rate: the rate that is charged to borrow funds lent overnight via the Reserve Bank’s Overnight Reverse Repo Facility (ORRF). For further information on the key standing facilities provided to market participants, including the ORRF, please see: Facilities at a glance – Reserve Bank of New Zealand – Te Pūtea Matua

    This data will add to the wide range of information that is available to support the analysis of the New Zealand financial system and understanding the transmission of monetary policy through wholesale interest rates quoted in New Zealand markets.

    MIL OSI New Zealand News

  • MIL-OSI: Westport Fuel Systems Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 13, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport“) (TSX:WPRT / Nasdaq:WPRT) reported financial results for the first quarter ended March 31, 2025, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

    “We continue to make significant strides in transforming Westport and sharpening our strategic focus. Our priorities remain clear: driving success through Cespira, our HPDI joint venture with Volvo Group; pursuing operational excellence through initiatives to streamline processes and reduce costs; and positioning Westport at the forefront of the alternative fuel shift.

    These priorities are guiding us as we work towards a brighter future. We’re seeing the impact of our efforts in our recent results – we significantly improved our net loss to $2.5 million in Q1 of 2025 from a net loss of $13.6 million in Q1 of 2024. This was supported by a $3.5 million increase in gross profit and an $8.1 million decrease in operating expenses. We also reported a substantial improvement in adjusted EBITDA as compared to the same period of the prior year.

    Looking to the future, with the announcement of the proposed sale of our light-duty business, Westport is realigning to focus on the hard-to-decarbonize applications primarily in long-haul and heavy-duty trucking where our unique HPDI and high-pressure technologies offer significant growth potential. Critically, this transaction is designed to provide immediate cash proceeds that bolster our balance sheet and fund growth opportunities in Cespira and the High-Pressure Controls & Systems business.

    Now, the conversation has changed. Our attendance at the Advanced Clean Transportation Expo or ACT Expo, the largest showcase of clean transportation technologies in North America, validated our view that the market recognizes that the internal combustion engine utilizing alternative fuels is an affordable solution that also decarbonizes long-haul, heavy-duty transport. Westport is the clean-tech innovation company to help drive this change. Through Cespira, the HPDI fuel system does the on-engine work to our High Pressure Controls and Systems business where our components do the off-engine work we are providing OEMs with simplified solutions to decarbonize.

    Volvo recently highlighted that demand for their gas-powered trucks that utilize HPDI technology has been increasing, with sales up more than 25% in 2024, a trend that we saw continue into Q1 with Cespira delivering improved revenue driven by increased volumes as compared to Q1 of 2024. While we remain focused on scaling our alternative fuel solutions, including LNG, CNG, RNG, and hydrogen systems, we are matching the cleanest gaseous fuels with the most efficient engine technologies. We are committed to delivering practical, commercially viable low-carbon solutions today and providing sustainable, high-performance solutions that help our customers achieve their goals now and for years to come.”

    Dan Sceli, Chief Executive Officer

    Q1 2025 Highlights

    • Revenues decreased 9% to $71.0 million compared to the same period in 2024, primarily driven by decreased sales volumes in our Heavy-Duty OEM and High-Pressure Controls & Systems segments. This was partially offset by increased sales in our Light-Duty segment in the quarter. In Q1 2024, our Heavy-Duty OEM segment included the financial results of the HPDI business which are now accounted for as part of the Cespira joint venture.
    • Net loss of $2.5 million for the quarter compared to net loss of $13.6 million for the same quarter last year. The decrease in net loss was driven by a $3.5 million increase in gross profit, decrease in operating expenditures by $8.1 million; change in foreign exchange gain or loss by $2.3 million and an increase in loss from investments accounted for by the equity method of $3.8 million.
    • Adjusted EBITDA[1] of nil  compared to negative $6.6 million for the same period in 2024.
    • Cash and cash equivalents were $32.6 million at the end of the first quarter. Cash used in operating activities during the quarter was $4.9 million with net cash used by working capital of $8.1 million, partially offset by operating income of $1.7 million. Investing activities included the collection of $10.5 million in a holdback receivable related to our previous sale of CWI to Cummins in 2022, capital contribution into Cespira of $4.7 million and purchase of capital assets of $3.1 million. Cash used in financing activities was attributed to net debt repayments of $3.9 million in the quarter.

    [1] Adjusted earnings before interest, taxes and depreciation is a non-GAAP measure. Please refer to NON-GAAP FINANCIAL MEASURES in Westport’s Management Discussion and Analysis for the reconciliation.

    Consolidated Results      Over /   
    ($ in millions, except per share amounts)     (Under)   
      1Q25 1Q24 %  
    Revenue $ 71.0   $ 77.6   (9 )%
    Gross Profit(2)   15.2     11.7   30 %
    Gross Margin(2)   21 %   15 %  
    Income (loss) from Investments Accounted for by the Equity Method(1)   (3.8 )     (100 )%
    Net Loss   (2.5 )   (13.6 ) 82 %
    Net Loss per Share – Basic   (0.14 )   (0.79 ) 82 %
    Net Loss per Share – Diluted   (0.14 )   (0.79 ) 82 %
    EBITDA (2)   (0.1 )   (9.2 ) 99 %
    Adjusted EBITDA (2)       (6.6 ) 100 %

    (1) This includes income or loss primarily from our investments in Cespira and Minda Westport Technologies Limited
    (2) Gross margins, EBITDA and Adjusted EBITDA are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures.

    Segment Information

    Light-Duty

    Revenue for the three months ended March 31, 2025 was $64.2 million compared with $63.3 million for the three months ended March 31, 2024. Light-Duty revenue increased by $0.9 million compared to the prior year and was primarily driven by increase in sales in our light-duty OEM and DOEM businesses. The light-duty OEM business had an increase in sales from its Euro 6 program compared to the prior year. In the first quarter of 2024, DOEM had a significant decrease in sales to a customer. This was partially offset by lower sales in our IAM, electronics and fuel storage businesses compared to the prior year.

    Gross profit for the three months ended March 31, 2025 increased by $1.6 million to $14.0 million, or 22% of revenue, compared to $12.4 million, or 20% of revenue, for the same prior year period. This was primarily driven by a change in sales mix with an increase in sales to European customers and a reduction in sales to developing regions.

    High Pressure Controls & Systems

    Revenue for the three months ended March 31, 2025 was $1.4 million compared with $2.4 million for the three months ended March 31, 2024. The decrease in revenue for the three months ended March 31, 2025 compared to the prior year was primarily driven by the hydrogen industry slowdown impacting demand for hydrogen components.

    Gross profit for the three months ended March 31, 2025 decreased by $0.2 million to $0.2 million, or 14% of revenue, compared to $0.4 million, or 17% of revenue, for the same prior year period. This was primarily driven by lower sales volumes increasing the per unit manufacturing costs in the quarter.

    Heavy-Duty Original Equipment Manufacturer (“OEM”)

    Revenue for the three months ended March 31, 2025 was $5.4 million, compared to $11.9 million for the prior year. The decrease in revenue for the three months ended March 31, 2025 is a result of the continuation of the business in Cespira. The revenue earned in the current quarter was from our services provided under the transitional service agreement with Cespira that is expected to end by Q2 2026.

    Gross profit for the three months ended March 31, 2025 increased by $2.1 million to $1.0 million, or 19% of revenue, compared to negative $1.1 million or negative 9% of revenue, for the same prior year period. The Heavy-Duty OEM segment received $0.9million in credits from component suppliers for inventory sold in the quarter.

    Selected Cespira Statements of Operations Data

    We account for Cespira using the equity method of accounting. However, due to its significance to our long-term strategy and operating results, we disclose certain Cespira’s financial information in notes 7 and 17 of our interim financial statements for the three months ended March 31, 2025.

    The following table sets forth a summary of the financial results of Cespira for the three months ended March 31, 2025 .

    (in millions of U.S. dollars)   Three months ended March 31,   Change
          2025       2024     $   %
    Total revenue   $ 16.7     $     $ 16.7     %
    Gross profit   $ 0.5     $     $ 0.5     %
    Gross margin1     3 %     %        
    Operating loss   $ (7.1 )   $     $ (7.1 )   %
    Net loss attributable to the Company   $ (3.9 )   $     $ (3.9 )   %

    1Gross margin is non-GAAP financial measure. See the section ‘Non-GAAP Financial Measures’ for explanations and discussions of these non-GAAP financial measures or ratios.

    Revenue

    Cespira revenues for the three months ended March 31, 2025 were $16.7 million. In the prior year, the Heavy-Duty OEM segment, which included our HPDI business, had revenues of $11.9 million. This was primarily driven by an increase in HPDI fuel systems sold in the period.

    Gross Profit

    Gross profit was $0.5 million for the three months ended March 31, 2025. In the prior year, the Heavy-Duty OEM segment had negative $1.1 million in gross profit primarily driven by the increase in sales volumes compared to the prior year and reductions in manufacturing cost.

    Operating loss

    Cespira incurred operating losses of $7.1 million for the three months ended March 31, 2025. Cespira continues to incur operating losses as it scales its operations and expand into other markets.

    Q1 2025 Conference Call
    Westport has scheduled a conference call for May 14, 2025, at 7:00 am Pacific Time (10:00 pm Eastern Time) to discuss these results. To access the conference call please register at
    https://register-conf.media-server.com/register/BI73bcac200e5f4652873668cf803d72ed

    The live webcast of the conference call can be accessed through the Westport website at
    https://investors.wfsinc.com/.

    Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

    The webcast will be archived on Westport’s website at https://investors.wfsinc.com.

    Financial Statements and Management’s Discussion and Analysis

    To view Westport financials for the first quarter ended March 31st, 2025, please visit https://investors.wfsinc.com/financials/

    About Westport Fuel Systems

    At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

    Cautionary Note Regarding Forward Looking Statements
    This press release contains forward-looking statements, including statements regarding future strategic initiatives and future growth, future of our development programs (including those relating to HPDI and Hydrogen), our expectations for 2024 and beyond, including the demand for our products, and the future success of our business and technology strategies. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward looking statements. These risks, uncertainties and assumptions include those related to our revenue growth, operating results, industry and products, the general economy, conditions of and access to the capital and debt markets, solvency, governmental policies and regulation, technology innovations, fluctuations in foreign exchange rates, operating expenses, continued reduction in expenses, ability to successfully commercialize new products, the performance of our joint ventures, the availability and price of natural gas and hydrogen, new environmental regulations, the acceptance of and shift to natural gas and hydrogen vehicles,fuel emission standards, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, the effects and duration of the Russia-Ukraine conflict, supply chain disruptions as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102.

    Contact Information
    Investor Relations
    Westport Fuel Systems
    T: +1 604-718-2046

    GAAP and Non-GAAP Financial Measures

    Our financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These U.S. GAAP financial statements include non-cash charges and other charges and benefits that may be unusual or infrequent in nature or that we believe may make comparisons to our prior or future performance difficult. In addition to conventional measures prepared in accordance with U.S. GAAP, Westport and certain investors use EBITDA and Adjusted EBITDA as an indicator of our ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. Management also uses these non-GAAP measures in its review and evaluation of the financial performance of Westport. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or “EBITDA multiple” that is based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a company. We believe that these non-GAAP financial measures also provide additional insight to investors and securities analysts as supplemental information to our U.S. GAAP results and as a basis to compare our financial performance period-over-period and to compare our financial performance with that of other companies. We believe that these non-GAAP financial measures facilitate comparisons of our core operating results from period to period and to other companies by, in the case of EBITDA, removing the effects of our capital structure (net interest income on cash deposits, interest expense on outstanding debt and debt facilities), asset base (depreciation and amortization) and tax consequences. Adjusted EBITDA provides this same indicator of Westports’ EBITDA from continuing operations and removing such effects of our capital structure, asset base and tax consequences, but additionally excludes any unrealized foreign exchange gains or losses, stock-based compensation charges and other one-time impairments and costs which are not expected to be repeated in order to provide greater insight into the cash flow being produced from our operating business, without the influence of extraneous events.

    Segment Information

    EBITDA and Adjusted EBITDA are intended to provide additional information to investors and analysts and do not have any standardized definition under U.S. GAAP, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA exclude the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore are not necessarily indicative of operating profit or cash flow from operations as determined under U.S. GAAP. Other companies may calculate EBITDA and Adjusted EBITDA differently.

    Segment earnings or losses before income taxes, interest, depreciation, and amortization (“Segment EBITDA”) is the measure of segment profitability used by the Company. The accounting policies of our reportable segments are the same as those applied in our consolidated financial statements. Management prepared the financial results of the Company’s reportable segments on basis that is consistent with the manner in which Management internally disaggregates financial information to assist in making internal operating decisions. Certain common costs and expenses, primarily corporate functions, among segments differently than we would for stand-alone financial information prepared in accordance with GAAP. These include certain costs and expenses of shared services, such as IT, human resources, legal, finance and supply chain management. Segment EBITDA is not defined under US GAAP and may not be comparable to similarly titled measures used by other companies and should not be considered a substitute for net earnings or other results reported in accordance with GAAP. Reconciliations of reportable segment information to consolidated statement of operations can be found in section “NON-GAAP FINANCIAL MEASURES & RECONCILIATIONS” within this press release.

      Three months ended March 31, 2025
      Light-Duty   High-Pressure Controls & Systems   Heavy-Duty OEM   Cespira   Total Segment
    Revenue $ 64.2   $ 1.4     $ 5.4   $ 16.7     $ 87.7
    Cost of revenue   50.2     1.2       4.4     16.2       72.0
    Gross profit   14.0     0.2       1.0     0.5       15.7
    Operating expenses:
    Research & development   3.0     1.0       0.1     3.1       7.2
    General & administrative   4.1     0.3       0.1     2.7       7.2
    Sales & marketing   2.3     0.1           0.3       2.7
    Depreciation & amortization   0.7     0.1           0.7       1.5
        10.1     1.5       0.2     6.8       18.6
    Equity income (note 8)   0.1                     0.1
    Add back: Depreciation & amortization   1.9     0.1           1.6       3.6
    Segment EBITDA $ 5.9   $ (1.2 )   $ 0.8   $ (4.7 )   $ 0.8
      Three months ended March 31, 2024
      Light-Duty   High-Pressure Controls & Systems   Heavy-Duty OEM   Total Segment
    Revenue $ 63.3   $ 2.4     $ 11.9     $ 77.6  
    Cost of revenue   50.9     2.0       13.0       65.9  
    Gross profit   12.4     0.4       (1.1 )     11.7  
    Operating expenses:              
    Research & development   3.6     1.3       2.8       7.7  
    General & administrative   3.7     0.2       1.8       5.7  
    Sales & marketing   2.1     0.2       0.5       2.8  
    Depreciation & amortization   0.6     0.1       0.1       0.8  
        10.0     1.8       5.2       17.0  
    Equity income                    
    Add back: Depreciation & amortization   1.5     0.1       1.4       3.0  
    Segment EBITDA $ 3.9   $ (1.3 )   $ (4.9 )   $ (2.3 )
    Gross Profit    
    (expressed in millions of U.S. dollars) 1Q25   1Q24
    Three months ended  
    Revenue $ 71.0     $ 77.6  
    Less: Cost of revenue   55.8       65.9  
    Gross profit   15.2       11.7  
    Gross margin %   21.4 %     15.1 %
      Three months ended March 31, 2025
      Total Segment   Less: Cespira   Add: Corporate & unallocated   Total Consolidated
    Revenue $ 87.7   $ 16.7   $     $ 71.0  
    Cost of revenue   72.0     16.2           55.8  
    Gross profit   15.7     0.5           15.2  
    Operating expenses:
    Research & development   7.2     3.1           4.1  
    General & administrative   7.2     2.7     1.9       6.4  
    Sales & marketing   2.7     0.3     0.3       2.7  
    Depreciation & amortization   1.5     0.7           0.8  
        18.6     6.8     2.2       14.0  
    Equity income (loss)   0.1         (3.9 )     (3.8 )
      Three months ended March 31, 2024
      Total Segment   Add: Corporate & unallocated   Total Consolidated
    Revenue $ 77.6   $   $ 77.6
    Cost of revenue   65.9         65.9
    Gross profit   11.7         11.7
    Operating expenses:
    Research & development   7.7         7.7
    General & administrative   5.7     4.7     10.4
    Sales & marketing   2.8     0.4     3.2
    Depreciation & amortization   0.8     0.2     1.0
        17.0     5.3     22.3
    Equity income          
    Reconciliation of Segment EBITDA to Loss before income taxes   Three months ended March 31,
        2025       2024  
    Total Segment EBITDA   $ 0.8     $ (2.3 )
    Adjustments:
    Depreciation & amortization     2.0       3.0  
    Cespira’s Segment EBITDA     (4.7 )      
    Cespira’s equity loss     3.9        
    Corporate and unallocated operating expenses     2.2       5.3  
    Foreign exchange loss     (0.5 )     1.8  
    Interest on long-term debt and accretion of royalty payable     0.7       0.8  
    Interest and other income, net of bank charges     (0.9 )     (0.3 )
    Loss before income taxes   $ (1.9 )   $ (12.9 )
    EBITDA and Adjusted EBITDA        
    (expressed in millions of U.S. dollars)   1Q25   1Q24
    Three months ended    
    Loss before income taxes   $ (1.9 )   $ (12.9 )
    Interest expense (income), net     (0.2 )     0.5  
    Depreciation and amortization     2.0       3.2  
    EBITDA     (0.1 )     (9.2 )
    Stock based compensation (recovery)     0.3       0.3  
    Unrealized foreign exchange (gain) loss     (0.5 )     1.8  
    Severance costs           0.5  
    Restructuring costs     0.3        
    Adjusted EBITDA   $     $ (6.6 )
    WESTPORT FUEL SYSTEMS INC.
    Condensed Consolidated Balance Sheets (unaudited)
    (Expressed in thousands of United States dollars, except share amounts)
    March 31, 2025 and December 31, 2024
     
        March 31, 2025   December 31, 2024
    Assets        
    Current assets:        
    Cash and cash equivalents (including restricted cash)   $ 32,637     $ 37,646  
    Accounts receivable     66,634       73,054  
    Inventories     63,214       53,526  
    Prepaid expenses     6,551       5,660  
    Total current assets     169,036       169,886  
    Long-term investments     40,052       39,732  
    Property, plant and equipment     45,314       41,956  
    Operating lease right-of-use assets     19,249       19,019  
    Intangible assets     5,174       5,277  
    Deferred income tax assets     10,261       9,695  
    Goodwill     2,996       2,876  
    Other long-term assets     3,163       3,180  
    Total assets   $ 295,245     $ 291,621  
    Liabilities and shareholders’ equity        
    Current liabilities:        
    Accounts payable and accrued liabilities   $ 93,127     $ 88,123  
    Current portion of operating lease liabilities     2,750       2,624  
    Current portion of long-term debt     13,225       14,660  
    Current portion of warranty liability     4,013       3,861  
    Total current liabilities     113,115       109,268  
    Long-term operating lease liabilities     16,560       16,433  
    Long-term debt     17,915       19,067  
    Warranty liability     1,603       1,456  
    Deferred income tax liabilities     4,063       4,029  
    Other long-term liabilities     4,391       4,343  
    Total liabilities     157,647       154,596  
    Shareholders’ equity:        
    Share capital:        
    Unlimited common and preferred shares, no par value        
    17,326,732 (2024 – 17,282,934) common shares issued and outstanding     1,246,408       1,245,805  
    Other equity instruments     9,081       9,472  
    Additional paid in capital     11,516       11,516  
    Accumulated deficit     (1,098,726 )     (1,096,275 )
    Accumulated other comprehensive loss     (30,681 )     (33,493 )
    Total shareholders’ equity     137,598       137,025  
    Total liabilities and shareholders’ equity   $ 295,245     $ 291,621  
    WESTPORT FUEL SYSTEMS INC.
    Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited)
    (Expressed in thousands of United States dollars, except share and per share amounts)
    Three months ended March 31, 2025 and 2024
     
        Three months ended March 31,
          2025       2024  
    Revenue   $ 70,955     $ 77,574  
    Cost of revenue     55,730       65,851  
    Gross profit     15,225       11,723  
    Operating expenses:        
    Research and development     4,052       7,693  
    General and administrative     6,397       10,353  
    Sales and marketing     2,758       3,287  
    Foreign exchange (gain) loss     (456 )     1,820  
    Depreciation and amortization     740       1,043  
          13,491       24,196  
    Income (loss) from operations     1,734       (12,473 )
             
    Income (loss) from investments accounted for by the equity method     (3,799 )     31  
    Interest on long-term debt     (676 )     (812 )
    Interest and other income, net of bank charges     869       341  
    Loss before income taxes     (1,872 )     (12,913 )
    Income tax expense     579       735  
    Net loss for the period     (2,451 )     (13,648 )
    Other comprehensive income (loss):        
    Cumulative translation adjustment     3,641       (430 )
    Ownership share of equity method investments’ other comprehensive loss     (829 )      
          2,812       (430 )
    Comprehensive income (loss)   $ 361     $ (14,078 )
             
    Loss per share:        
    Net loss per share – basic and diluted   $ (0.14 )     (0.79 )
    Weighted average common shares outstanding:        
    Basic and diluted     17,322,681       17,220,540  
    WESTPORT FUEL SYSTEMS INC.
    Condensed Consolidated Statements of Cash Flows (unaudited)
    (Expressed in thousands of United States dollars)
    Three months ended March 31, 2025 and 2024
     
        Three months ended March 31,
          2025       2024  
    Operating activities:        
    Net loss for the period   $ (2,451 )   $ (13,648 )
    Adjustments to reconcile net loss to net cash provided by (used in) operating activities:        
    Depreciation and amortization     1,930       3,247  
    Stock-based compensation expense     212       331  
    Unrealized foreign exchange (gain) loss     (456 )     1,820  
    Deferred income tax (recovery)     (33 )     (40 )
    Loss (income) from investments accounted for by the equity method     3,799       (31 )
    Interest on long-term debt     22       22  
    Change in inventory write-downs     223       413  
    Change in bad debt expense     (33 )     (121 )
    Other           (248 )
    Changes in operating assets and liabilities:        
    Accounts receivable     (2,072 )     12,526  
    Inventories     (7,502 )     (7,434 )
    Prepaid expenses     (415 )     (400 )
    Accounts payable and accrued liabilities     2,840       4,725  
    Warranty liability     (963 )     (1,020 )
    Net cash provided by (used in) operating activities     (4,899 )     142  
    Investing activities:        
    Purchase of property, plant and equipment     (3,142 )     (4,893 )
    Proceeds on sale of assets     82       135  
    Proceeds from holdback receivable     10,450        
    Capital contributions to investments accounted for by the equity method (note 7)     (4,686 )      
    Net cash used in investing activities     2,704       (4,758 )
    Financing activities:        
    Repayments of operating lines of credit and long-term facilities     (3,918 )     (17,689 )
    Drawings on operating lines of credit and long-term facilities           11,848  
    Net cash used in financing activities     (3,918 )     (5,841 )
    Effect of foreign exchange on cash and cash equivalents     1,104       (494 )
    Net decrease in cash and cash equivalents     (5,009 )     (10,951 )
    Cash and cash equivalents, beginning of period (including restricted cash)     37,646       54,853  
    Cash and cash equivalents, end of period (including restricted cash)   $ 32,637     $ 43,902  

    The MIL Network

  • MIL-OSI USA: Rep. Young Kim Leads Bipartisan Bill to Support Small Businesses

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – Today, U.S. Representatives Young Kim (CA-40) and Josh Gottheimer (NJ-05) introduced the Improving Access to Small Business Information Act, a bipartisan bill to reduce red tape and streamline the process to gather timely information at the Securities and Exchanges Commission (SEC) Office of the Advocate for Small Business Capital Formation. 

    The Improving Access to Small Business Information Act would amend the Securities Exchange Act of 1934 to specify that actions—like conducting field surveys—of the Advocate for Small Business Capital Formation are not a collection of information under the Paper Reduction Act (PRA).  

    “The better information the federal government can gather, the better Congress and the public can identify policy gaps and help small businesses access capital they need,” said Congresswoman Young Kim. “I’m proud to lead a bipartisan bill to streamline small business information gathering so our policies can keep up with economic growth and help entrepreneurs across the nation. This simple bill can hopefully make a big difference in helping our government work better for entrepreneurs who keep our economies running.”  

    “Small businesses are the backbone of our communities in Jersey. That’s why I’m proud to help lead the bipartisan Improving Access to Small Business Information Act, which cuts outdated red tape and ensures that the federal government can better understand how to support small business owners from all backgrounds,” said Congressman Josh Gottheimer (NJ-5). “In Congress, I’m dedicated to making our government more efficient so that we can improve access to capital for small businesses, create good-paying jobs, and unleash more economic opportunity.” 

    Read the bill HERE.

    MIL OSI USA News

  • MIL-OSI: Atlanticus Announces Approval of Quarterly Preferred Stock Dividend

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, May 13, 2025 (GLOBE NEWSWIRE) — Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus,” the “Company,” “we” or “our”), a financial technology company that enables its bank, retail and healthcare partners to offer more inclusive financial services to millions of everyday Americans, today announced that its Board of Directors approved a quarterly dividend of $0.476563 per share to Series B Cumulative Perpetual Preferred shareholders. The cash dividend will be paid on or about June 16, 2025 to holders of record of Atlanticus’ Series B Cumulative Perpetual Preferred Stock on the close of business on June 1, 2025.

    About Atlanticus Holdings Corporation

    Empowering Better Financial Outcomes for Everyday Americans

    AtlanticusTM technology enables bank, retail, and healthcare partners to offer more inclusive financial services to everyday Americans through the use of proprietary analytics. We apply the experience gained and infrastructure built from servicing over 20 million customers and over $43 billion in consumer loans over more than 25 years of operating history to support lenders that originate a range of consumer loan products. These products include retail and healthcare private label credit and general purpose credit cards marketed through our omnichannel platform, including retail point-of-sale, healthcare point-of-care, direct mail solicitation, internet-based marketing, and partnerships with third parties. Additionally, through our Auto Finance subsidiary, Atlanticus serves the individual needs of automotive dealers and automotive non-prime financial organizations with multiple financing and service programs.

    Forward-Looking Statements

    This press release contains forward-looking statements that reflect the Company’s current views with respect to the payment of dividends in the future. You generally can identify these statements by the use of words such as “outlook,” “potential,” “continue,” “may,” “seek,” “approximately,” “predict,” “believe,” “expect,” “plan,” “intend,” “estimate” or “anticipate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. These risks and uncertainties include those risks described in the Company’s filings with the Securities and Exchange Commission and include, but are not limited to, risks related to the Company’s ability to retain existing, and attract new, merchant partners and funding sources; changes in market interest rates; increases in loan delinquencies; its ability to operate successfully in a highly regulated industry; the outcome of litigation and regulatory matters; the effect of management changes; cyberattacks and security vulnerabilities in its products and services; and the Company’s ability to compete successfully in highly competitive markets. The forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, the Company disclaims any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.

    Contact:
    Investor Relations
    (770) 828-2000
    investors@atlanticus.com

    The MIL Network

  • MIL-OSI: Dundee Corporation Delivers on Strategy With Strong Q1 Execution

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 13, 2025 (GLOBE NEWSWIRE) — The first quarter of 2025 was an important step forward for us – a period where we continued to execute on our long-term strategy and strengthen the business for the future, said Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation. “We’ve been steadily working to simplify our portfolio, reduce leverage, and sharpen our focus on our core mining strategy. This quarter, we delivered on that plan. In February, we announced the pending sale of our interest in Android Industries to a strategic buyer – a transaction that once closed, will mark a significant milestone in our efforts to simplify the business and recycle capital into our core mining strategy. We also realized proceeds from the sale of G Mining Ventures, which we received in connection with G Mining’s acquisition of Reunion Gold last year. This outcome is a clear example of our approach in action: identifying high-quality assets early, backing strong teams, and exiting when value has been crystallized. The monetization of our original investment in Reunion, realized through the sale of G Mining Ventures shares, allowed us to fully repay our corporate loan facility. As a result, we ended the quarter with no debt at the parent level – a key strategic achievement that enhances our financial flexibility going forward.”  

    “Against a backdrop of rising gold prices, solid mining equity performance, and heightened macro uncertainty, we saw a timely opportunity to increase our exposure to high conviction investments. We participated in Magna Mining’s convertible debenture to support the integration of a producing copper-nickel-PGM asset in Sudbury. We also initiated a new position in Revival Gold through a strategic placement. Revival is advancing a portfolio of gold projects in the U.S. with scale, quality, and potential – and we are excited to support their progress as a new partner. Each of these investments reflects the kinds of assets and teams we want to align with: technically strong, well-managed, and positioned to deliver meaningful long-term value.”

    Mr. Goodman concluded: “We ended the quarter with a strong cash position, no parent-level debt, and a royalty that will deliver cash flow to Dundee in the second half of 2025. We are operating from a position of strength and focus. We are proud of what we have accomplished this quarter and remain energized by the opportunity ahead. None of this progress would be possible without the dedication, focus, and sharp execution of our team – they continue to be the driving force behind everything we achieve.”

    FIRST QUARTER 2025 RESULTS

    • The Corporation sold its remaining 2.9 million shares of G Mining Ventures Corp. (“G Mining”) for net proceeds of $45.3 million, after registering an additional $14.2 million investment gain during the quarter.
    • In February, Dundee repaid the remaining $5.0 million of loan principal outstanding with Earlston Investments Corp.
    • In February, Dundee announced the sale of its interest in Android Industries, LLC (“Android”) for cash proceeds of approximately $24.5 million at closing, with additional proceeds payable contingent upon the release of all escrows. The transaction is now expected to close in the second quarter of 2025, subject to customary closing conditions and obtaining necessary regulatory approvals.
    • Reported net income from all portfolio investments for the first quarter of 2025 of $28.1 million (2024 – $12.6 million). Other than G Mining, the key drivers of performance during the quarter included investment gains of $4.5 million and $3.8 million in the Corporation’s investments in Ausgold Limited and Greenheart Gold Inc., respectively.
    • Reported consolidated general and administrative expenses for the first quarter of 2025 of $4.5 million (2024 – $4.1 million).
    • Reported net earnings attributable to owners of the Corporation for the first quarter of 2025 of $24.5 million (2024 – $7.2 million), or earnings per share on a diluted basis of $0.25 (2024 – $0.07 per share).

    SEGMENTED FINANCIAL RESULTS  

    Mining Investments

    In the first quarter of 2025, the Corporation reported net earnings before taxes from the mining investments segment of $29.8 million (2024 – $9.3 million). Drivers of performance are described in the highlights above. The share of income from equity accounted mining investments during the first quarter of 2025 was $0.2 million (2024 – loss of $0.5 million).

    Corporate and others

    The Corporation reported a pre-tax loss from the corporate and others segment, including non-core subsidiaries, of $4.1 million (2024 – $0.4 million) during the three months ended March 31, 2025.

    The fair value of non-mining portfolio investments in the corporate and others segment decreased by $1.4 million (2024 – increased by $2.8 million) during the first quarter of the current year and was driven almost exclusively by the investment revaluation of Dundee’s ownership in TauRx Pharmaceuticals Ltd., owing to an increase to the discount rate used to value this investment at March 31, 2025.

    During the same period, the segment’s non-mining equity accounted investments reported pre-tax earnings of $0.03 million (2024 – $0.1 million). Also, the segment’s subsidiaries reported pre-tax losses of $0.1 million (2024 – $0.6 million).

    Mining Services

    During the first quarter of 2025, the mining services segment, comprised of the Corporation’s 78%-owned subsidiary, Dundee Sustainable Technologies Inc., reported a pre-tax loss of $1.7 million (2024 – $1.2 million).

    SHAREHOLDERS’ EQUITY ON A PER SHARE BASIS

             
    Carrying value as at March 31, 2025     December 31, 2024  
    Mining Investments      
    Portfolio investments $ 93,649     $ 95,490  
    Equity accounted investments   31,273       30,013  
    Royalty   18,921       18,921  
          143,843       144,424  
    Corporate and Others      
    Corporate   64,253       32,976  
    Portfolio investments ‒ other   68,721       70,495  
    Equity accounted investments ‒ other         30,240  
    Real estate joint ventures   2,291       2,364  
    Subsidiaries   (106 )     3,403  
    Equity accounted investments ‒ Held-for-Sale   30,414        
          165,573       139,478  
    Mining Services      
    Subsidiaries   (535 )     (208 )
          (535 )     (208 )
    SHAREHOLDERS’ EQUITY ATTRIBUTABLE TO CLASS A SUBORDINATE SHARES      
    AND CLASS B SHARES OF THE CORPORATION $ 308,881     $ 283,694  
             
    Number of shares of the Corporation issued and outstanding:      
      Class A Subordinate Shares   86,305,197       86,269,735  
      Class B Shares   3,114,491       3,114,491  
    Total number of shares issued and outstanding   89,419,688       89,384,226  
             
    SHAREHOLDERS’ EQUITY ON A PER SHARE BASIS $ 3.45     $ 3.17  
                   

    The Corporation’s unaudited interim consolidated financial statements as at and for the three months ended March 31, 2025 and 2024, along with the accompanying management’s discussion and analysis, have been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) and may be viewed by interested parties under the Corporation’s profile at www.sedarplus.ca or the Corporation’s website at www.dundeecorporation.com.

    ABOUT DUNDEE CORPORATION:

    Dundee Corporation is a public Canadian independent mining-focused holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. The Corporation is primarily engaged in acquiring mineral resource assets. The Corporation operates with the objective of unlocking value through strategic investments in mining projects globally. Our team conducts due diligence in order to assess the geological, technical, environmental, and financial merits and risks of each project and looks to deploy capital where it can either seek to generate investment returns or where the Corporation can collaborate with operating partners and take strategic partnerships through direct interests in mining operations.

    FORWARD-LOOKING STATEMENTS:

    This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Dundee Corporation’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dundee Corporation’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Annual Information Form of Dundee Corporation and subsequent filings made with securities commissions in Canada. Dundee Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Investor and Media Relations
    T: (416) 864-3584
    E: ir@dundeecorporation.com

    The MIL Network

  • MIL-OSI: NowVertical Named Qlik Latin America Channel Growth Partner of the Year 2024

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 13, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSXV: NOW) (“NowVertical” or the “Company”), a leading data and AI solutions provider, today announced it has been awarded the Qlik Channel Growth Partner of the Year for 2024 in Latin America.

    This achievement follows NowVertical’s recent 2025 Google Cloud Data Analytics Partner of the Year award for Latin America, The recognition highlights NowVertical ‘s leadership in delivering outstanding customer outcomes through impactful data and analytics solutions tailored to the unique demands of customers.

    The annual Qlik Regional Partner Awards recognize select partners for demonstrating exceptional expertise and innovation in their respective markets. Winners deliver measurable business outcomes and strategic value, enabling customers in key regions to harness their data effectively and achieve rapid success.

    “Partners like NowVertical are what makes our regional ecosystem so powerful—deep local knowledge, trusted customer relationships, and a relentless focus on delivering real results,” said David Zember, Senior Vice President, WW Channels and Alliances at Qlik. “Their ability to move quickly and solve complex challenges close to home is what drives lasting impact. We’re proud to celebrate this success and excited for what we’ll achieve together next.”

    “Being recognised by Qlik reflects the strength of our global partnerships and our shared commitment to delivering high-impact, enterprise-level outcomes,” said Sandeep Mendiratta, CEO of NowVertical. “We’re proud to work with hyperscaling technologies to solve our customers’ most complex data challenges with speed, precision, and scale.”

    This award marks another milestone in NowVertical’s deep, trusted relationships with the world’s most advanced data and cloud platforms. Through these partnerships, NowVertical is uniquely positioned to deliver integrated, scalable solutions that help enterprise clients unlock data, AI and accelerate transformation.

    About NowVertical Group Inc.
    The Company is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company’s AI-Infused first party and third-party technologies. NowVertical is growing organically and through strategic acquisitions.

    For further details about NowVertical, please visit www.nowvertical.com.

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

    For further information, please contact:

    Andre Garber, CDO
    IR@nowvertical.com

    Investor Relations: Bristol Capital Ltd.
    Stefan Eftychiou
    stefan@bristolir.com
    (905) 326-1888 x60

    Forward-Looking Statements

    This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (together “forward-looking statements”). Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies, certain of which are unknown. Forward-looking statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions; risks inherent in the data analytics and artificial intelligence sectors in general; regulatory and legislative changes and other risk factors identified in documents filed by the Company under its profile at www.sedarplus.com, including the Company’s management’s discussion and analysis for the year ended December 31, 2024. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    The MIL Network

  • MIL-OSI Economics: STATEMENT: CanREA eager to work with new federal Cabinet to advance wind energy, solar energy and energy storage 

    Source: – Press Release/Statement:

    Headline: STATEMENT: CanREA eager to work with new federal Cabinet to advance wind energy, solar energy and energy storage 

    CanREA ready to help Canada’s newly appointed Ministers deliver on key election promises that will advance clean-energy initiatives nationwide. 

    Ottawa, Ontario, May 13, 2025—The Canadian Renewable Energy Association (CanREA) congratulates Canada’s new federal Cabinet Ministers and Secretaries of State on their appointment to Cabinet. The Ministers were sworn in today by Her Excellency the Right Honourable Mary Simon, C.C., C.M.M., C.O.M, C.D., Governor General of Canada.  

    CanREA looks forward to supporting their delivery of an ambitious agenda for the clean-energy industry, helping Canada meet its economic and environmental goals.    

    Specifically, CanREA would like to congratulate: 

    The Hon. François-Philippe Champagne P.C. M.P., Minister of Finance and National Revenue 
    The Hon. Dominic LeBlanc P.C., M.P., President of the King’s Privy Council for Canada and Minister Responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy  
    The Hon. Shafqat Ali P.C. M.P., President of the Treasury Board  
    The Hon. Tim Hodgson P.C. M.P., Minister of Energy and Natural Resources 
    The Hon. Julie Dabrusin P.C. M.P., Minister of Environment and Climate Change 
    The Hon. Mélanie Joly, P.C., M.P., Minister of Industry 
    The Hon. Rebecca Ally P.C., M.P. Minister of Crown-Indigenous Relations  
    The Hon. Mandy Gull-Masty P.C., M.P., Minister of Indigenous Services 

    “Over the past number of years, the CanREA team has developed a strong working relationship with the federal government,” said Vittoria Bellissimo, CanREA’s President and CEO. “My team and I are committed to advancing wind, solar and energy storage and we will work closely with Canada’s newly appointed ministers to shape and support federal policies that will be essential to our industry as we plan, finance and build clean-energy projects that benefit Canadians.”  

    During the recent election campaign, the Liberal Party committed to a suite of proposals that support the rapid deployment of clean energy, as described in this recent CanREA statement. These policies include:  

    Finalizing the Clean Economy Investment Tax Credits (ITCs), policies that have already galvanized private sector investment in Canada’s renewable energy and energy storage industry. Getting the remaining ITCs passed into law, particularly the Clean Electricity ITC, will secure Canada’s position as a competitive and safe place for the private sector to invest. These will also help lower the cost of electricity to Canadian ratepayers. 
    Reducing the barriers to accessing capital faced by Indigenous companies and communities, by expanding the kinds of projects the Canada Infrastructure Bank can support to be more in line with First Nation, Inuit and Métis priorities. The Liberals also committed to exploring options for an Indigenous Infrastructure Bank to further address this gap. 
    Offering support for Canadians entering the trades, while also helping to reduce barriers that these skilled workers face when working in another province. 
    Creating a new First and Last Mile Fund that will move more electricity and goods from where they are produced to where they are needed, creating a more integrated and accessible Canadian economy. 
    Signing new Cooperation and Substitution Agreements with all willing provinces, territories and Indigenous Governing Bodies within six months, ensuring that projects go through only one review that upholds environmental standards and Indigenous consultation. 
    Cementing the signal for electrification by maintaining the industrial carbon price. During his leadership campaign, Mr. Carney even promised to set a pricing schedule out to 2035—this would be a strong signal upon which Canada’s renewable energy and energy storage industry could rely. 

    Across the country, more than 18,000 MW of clean-energy procurements, representing more than $34 B, are being planned or currently taking place, all of which will benefit from these federal policies.   

    “The federal ITCs, along with increased Indigenous access to capital and new interprovincial interconnections, will allow Canada to maintain its competitive edge in the global race for renewable energy and energy storage investment,” said Fernando Melo, CanREA’s Federal Director of Policy and Government Affairs.  

    “Putting these in place will be no small feat, but CanREA is committed to collaborating with the federal government to get these groundbreaking policies across the finish line.” 

    Quotes

    “Over the past number of years, the CanREA team has developed a strong working relationship with the federal government. My team and I are committed to advancing wind, solar and energy storage and we will work closely with Canada’s newly appointed ministers to shape and support federal policies that will be essential to our industry as we plan, finance and build clean-energy projects that benefit Canadians.” 
    —Vittoria Bellissimo, President and CEO, Canadian Renewable Energy Association (CanREA) 

    “The federal ITCs, along with increased Indigenous access to capital and new interprovincial interconnections, will allow Canada to maintain its competitive edge in the global race for renewable energy and energy storage investment. Putting these in place will be no small feat, but CanREA is committed to collaborating with the federal government to get these groundbreaking policies across the finish line.”  
    —Fernando Melo, Federal Director, Canadian Renewable Energy Association (CanREA) 

    For interview opportunities, please contact: 

    Bridget Wayland, Senior Director of Communications  Canadian Renewable Energy Association communications@renewablesassociation.ca 

    About CanREA 

    The Canadian Renewable Energy Association (CanREA) is the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. We work to create the conditions for a modern energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. For more information on how Canada can use wind energy, solar energy and energy storage to help achieve its net-zero commitments, consult “Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vision.” Follow us on Bluesky and LinkedIn. Subscribe to our newsletter here. Learn more at renewablesassociation.ca.    

    The post STATEMENT: CanREA eager to work with new federal Cabinet to advance wind energy, solar energy and energy storage  appeared first on Canadian Renewable Energy Association.

    MIL OSI Economics

  • MIL-OSI USA: Rep. Peters Urges Fiscal Responsibility and Against Healthcare Cuts in Republican Tax Plan Committee Consideration

    Source: United States House of Representatives – Congressman Scott Peters (52nd District of California)

     

    [embedded content]

    Washington D.C. – Today, at an Energy & Commerce Committee meeting on the Republican tax plan, Representative Scott Peters (CA-50) urged his colleagues to not go through with their extreme cuts to Medicaid and the Affordable Care Act to pay for tax cuts to wealthy individuals and corporations that do not need them. The Republican plan, which will not reduce the federal debt or deficit, would kick 13.7 million people off of their health insurance according to a new analysis by the non-partisan Congressional Budget Office.

    During his remarks, Rep. Peters also shared the story of his constituent, Jesus Acosta, who is an in-home care provider for his mother who was disabled after being hit by a car. Without Medicaid funding, Jesus would no longer be able to provide this care and pay the bills that keep their family together in their home.

    Rep. Peters began his remarks by stating, “This Committee has no jurisdiction over taxes, but let’s be honest with the American people. Taxes are the real reason we’re here. Over in the Ways & Means Committee, they are marking up what will be one of the most expensive tax bills in history. When Republicans originally passed the 2017 Tax Cuts and Jobs Act, they designed many of the individual and some business tax provisions to expire this year. That’s because even back then, Republicans knew making the tax cuts permanent would cost the United States trillions in revenue we desperately need to pay our expenses. Making those tax cuts permanent now is no less costly.

    He continued, “The bill before us will decimate Medicaid, which provides health insurance to nearly 72 million people nationwide. In every congressional district across the country, Medicaid supports health care for children, Americans with disabilities, and working people who are already struggling to keep up. Cutting health coverage for our most vulnerable neighbors will not make America healthier, it will make us sicker.”

    And he concluded, “Don’t buy their fiscal responsibility act. Republicans are proposing these painful cuts to programs that help everyday Americans not to lower our debt but just so President Trump can follow through on his campaign promise to give his donors, who he himself said were already “rich as hell,” even more money in tax cuts. When the government borrows more, inflation goes up and working people suffer at the grocery store, gas pump, and when they pay for utilities. Higher federal borrowing drives up interest rates and makes it harder for people to buy a home, start a business, or pay down credit cards.  All this now in addition to depriving so many Americans of basic health care.”

    CA-50 Medicaid Facts:

    • 156,100 people in the district rely on Medicaid for health coverage—that’s 20 percent of all district residents.
      • 34,700 children in the district are covered by Medicaid.
      • 17,700 seniors in the district are covered by Medicaid.
      • 64,900 adults in the district have Medicaid coverage through Medicaid expansion—that includes pregnant women who are able to access prenatal care sooner because of Medicaid expansion, parents, caretakers, veterans, people with substance use disorder and mental health treatment needs, and people with chronic conditions and disabilities.
    • At least five hospitals in the district had negative operating margins in 2022. These hospitals would be especially hard-hit by cuts to Medicaid. For example:
      • Scripps Mercy Hospital had a negative 25.3 percent operating margin—and nearly 22 percent of its revenue came from Medicaid.
      • Sharp Coronado Hospital had a negative 3.5 percent operating margin—and over 36 percent of its revenue came from Medicaid.
      • University of California San Diego Medical Center had a negative 2.4 percent operating margin—and nearly 19 percent of its revenue came from Medicaid.
    • There are 54 health center delivery sites in the district that serve 529,944 patients.
    • Those health centers and patients rely on Medicaid—statewide, 69 percent of health center patients rely on Medicaid for coverage.
    • Health centers will not be able to stay open and provide the same care that they do today, with more uninsured and underinsured patients. They are already operating on thin margins—in 2023, nationally, nearly half of health centers had negative operating margins.
    • Medicaid cuts put health centers at risk, including:
      • Family Health Centers of San Diego
      • Neighborhood Healthcare
      • North County Health Project
      • San Diego American Indian Health Centers
      • St. Vincent De Paul Village

     Jesus’s Story:

    Jesus Acosta is a home care provider and member of United Domestic Workers, UDW/AFSCME, in San Diego. Jesus became a care provider after his mother was tragically hit by a car, leaving her disabled. She was a single mother who worked hard to provide for Jesus and his siblings. After her accident, Jesus felt it was his responsibility to care for the woman who always cared for him — and he’s proud to do it.

    Jesus became his mother’s full time care provider in 2016. The responsibilities that come with her care — medication management, feeding her, bathing her, taking her to doctor’s appointments, helping her with her physical therapy and to live a fulfilling life with her family — has made it difficult for Jesus to maintain full-time employment. But he is able to take care of himself and pay the bills for his family thanks to Medicaid. The program also pays for his mother’s wheelchair and doctors’ visits. Without Medicaid funding, Jesus and his family would likely have to move out of their home and they would be separated

    Rep. Peters’ Full Remarks as Prepared for Delivery:

    Jesus is one of my constituents from San Diego. His mother was tragically hit by a car, leaving her disabled.

    Jesus became his mother’s full time care provider in 2016. He manages her medications, feeds her, bathes her, takes her to doctor appointments, and helps with her physical therapy.

    If these Medicaid cuts take effect, this work – this very had work — will not meet the so-called work requirements Republicans want to impose. Jesus and his family would likely have to move out of their home and live separated, and they will lose their health care.

    Mr. Chairman, this Committee has no jurisdiction over taxes, but let’s be honest with the American people. Taxes are the real reason we’re here.

    Over in the Ways & Means Committee, they are marking up what will be one of the most expensive tax bills in history.

    When Republicans originally passed the 2017 Tax Cuts and Jobs Act, they designed many of the individual and some business tax provisions to expire this year.

    That’s because even back then, Republicans knew making the tax cuts permanent would cost the United States trillions in revenue we desperately need to pay our expenses. Making those tax cuts permanent now is no less costly.

    Yet, that’s what we are being asked to do today.  The Budget Committee instructed the Ways and Means Committee to cut taxes by $4.5 trillion and has asked our committee to come up with $880 billion in cuts to make up the shortfall.  That’s it. That’s what this is about.

    To do that, the bill before us will decimate Medicaid, which provides health insurance to nearly 72 million people nationwide.

    In every congressional district across the country, Medicaid supports health care for children, Americans with disabilities, and working people who are already struggling to keep up.

    Cutting health coverage for our most vulnerable neighbors will not make America healthier, it will make us sicker.

    At home I hear from people concerned about national debt and deficits and they say to me, “hey Scott we have to make cuts to address the deficit.”  But that is not what is happening here.  Because Republicans will continue to run $2 trillion annual budget deficits and we will see the national debt grow from 36 to 38 to 40 to 42 trillion.  And they will vote for a $5 trillion increase in the debt limit to make this borrowing possible, even though many of them swore a blood oath that they’d never vote to increase the debt.  They will enact a budget that according to the Committee for a Responsible Federal Budget will increase the federal debt by $37 trillion over 30 years. 

    Don’t buy their fiscal responsibility act. Republicans are proposing these painful cuts to programs that help everyday Americans not to lower our debt but just so President Trump can follow through on his campaign promise to give his donors, who he himself said were already “rich as hell,” even more money in tax cuts.

    When the government borrows more, inflation goes up and working people suffer at the grocery store, gas pump, and when they pay for utilities. Higher federal borrowing drives up interest rates and makes it harder for people to buy a home, start a business, or pay down credit cards.  All this now in addition to depriving so many Americans of basic health care.

    I urge my colleagues to vote no.

    Thank you, I yield back.

    ###

    MIL OSI USA News

  • MIL-OSI New Zealand: Our Response Framework for Educational Delivery and Performance

    Source:

    Download a PDF version of our Response Framework for Educational Delivery and Performance (PDF 191 KB)
    What is our Response Framework?
    The Response Framework describes how we manage educational delivery and performance where it needs to improve. It provides an overview of the types of responses the TEC uses to manage delivery and performance, and broad factors that affect whether a response is taken and what type of response.
    The framework is designed to endure over time, so it focuses on responses and factors that will not change over multiple funding rounds. It does not include specific expectations of delivery and performance (eg, specific levels or measures of these factors, rankings of their importance, or mappings between factors and responses) because these vary over time and in different contexts.
    Instead, specific expectations are laid out in a range of regularly published sources including Plan Guidance, funding conditions, funding mechanisms and technical guidance. Tertiary education organisations (TEOs) should refer to these sources to understand what specific levels and/or circumstances are likely to evoke a response.
    Decisions about responses to delivery and performance result from on-balance assessments, not bright-line tests
    Decisions involve many factors and depend on us having as much information as possible. For this reason, we rely on engagement as the first response when an indicator occurs, to enable a “no surprises” approach if a further response is required. We aim to understand the reasons underlying the indicator and what is already happening to address it.
    The Response Framework covers how we respond to educational delivery and/or performance that needs to improve. It does not cover:

    responses to delivery or performance that exceeds expectations
    other types of assessments we make such as tertiary education institution (TEI) risk and private training establishment (PTE) financial viability
    other types of decisions we make, such as those about investment (although both our investment and response frameworks are relevant where responses relate to funding, such as reducing investment when performance is not improving). 

    Fundamental to our decision-making are our legislative functions and obligations under the Education and Training Act 2020, including giving effect to the Tertiary Education Strategy. An ongoing focus on learner success is embedded throughout the framework: as a potential indicator that improvement is necessary, a way to improve outcomes, a contextual factor considered in decisions, and a principle underpinning all decisions.
    We use three broad types of responses
    This list is not exhaustive.
    Information, monitoring and engagement
    Our business-as-usual methods for understanding provider performance include regular data reporting and communicating expectations through Plan Guidance, other publications and engagement.
    Our first choice of response, when a need to improve outcomes is indicated, may include requesting further information, or changing the frequency, intensity, method, attendees or content of engagements.
    Dedicated and/or specialist engagement (eg, a Relationship Manager) is likely when there is more risk (eg, total funding envelope >$5m), or delivery or performance needs to improve.
    Requirements and conditions
    When more structure is required than engagement alone, TEC may:

    require a full Investment Plan
    change the Plan length
    require a significant Plan amendment
    require an improvement plan
    apply organisation-specific funding conditions
    impose a new condition on subsequent Plan funding approval.

    Funding
    In situations where performance is not improving even with requirements or conditions, TEC may:

    remove access to additional funding
    revoke approval for a qualification to be accessible for student loans and allowances
    amend, revoke and/or recover existing funding
    reduce further investment or part-fund only (including signalling this through indicative allocations)
    cease investment.

    Proposed funding decisions made as part of annual Plan rounds are always subject to a Right of Response process.
    We consider many factors in making a response decision
    We generally (although not always) use responses in a graduated manner, with engagement continuing throughout.
    Context
    Context is crucial to which responses we use, how quickly we do so, and the importance of various indicators and mitigations at different points in time. For example:

    at a system level: fiscal environment, overall availability of funding and government risk appetite can affect how quickly we strengthen responses or which ones we apply
    at a sub-sector level: the type of provider, including size, legislated autonomy, business model, and alternatives in the network of provision, affects what responses we use
    at a provider level: specific concerns (eg, low educational outcomes for specific learner groups) can have specific associated responses, or responses might only be applied to pockets of provision or to provision with outcomes that are not improving. We also consider a provider’s existing compliance requirements.

    Indicators
    Indicators are signs that performance may need to improve, to minimise potential risk to learner outcomes and/or to government investment. They increase the likelihood that we will use more or stronger responses. Indicators include:

    low or declining educational performance
    low educational outcomes for specific learner groups
    unfavourable quality assurance reports
    unsatisfactory Plan quality (or components of a Plan), including learner success milestones
    under- or over-delivery
    unsatisfactory progress following previous responses
    breach of funding conditions
    non-compliance with criteria for significant Plan amendments or replacement Plans
    adverse audit and investigation findings.

    Mitigations
    Mitigations are factors or actions that (where satisfactory) can lower risk and increase our confidence that expectations will be met. Satisfactory mitigations decrease the likelihood of further responses and/or the severity of those applied. Mitigations can include:

    proactive communication about indicators
    improved educational performance
    improving educational outcomes for specific learner groups
    proactive actions taken (eg, collaboration with other providers)
    demonstrable outcomes other than educational (eg, community impact)
    improved quality assurance reports.

    Key principles underpin every response decision
    Evidence-based
    We make informed decisions based on best available data, information and intelligence. We understand and apply knowledge of the sector, learner demand, stakeholder needs and best practice.
    Fair, transparent and consistent
    We use engagement to maintain transparency with providers and understand the context that makes our decisions fair. Our methods and processes build trust and confidence in the system for learners, industry, communities and government. We balance costs and risks in proportion to outcomes.
    Learners at the centre
    We incentivise, promote and enable improved educational outcomes for everyone by making providers accountable for how they deliver education and the outcomes they achieve. We expect providers to recognise learner diversity and meet learners’ needs and aspirations.
    Continuously improving the system
    We improve the system’s effectiveness through reviewing and updating internal processes for deciding and applying responses, as necessary. We improve the system through the tools and guidance we provide to the sector and the network of provision we invest in.

    MIL OSI New Zealand News

  • India launches first 3nm chip design centres in Noida and Bengaluru

    Source: Government of India

    Source: Government of India (4)

    Union Minister for Electronics and Information Technology Ashwini Vaishnaw on Tuesday inaugurated India’s first 3-nanometre (3nm) chip design centres in Noida and Bengaluru, marking a key milestone in the country’s push towards advanced semiconductor innovation. The centres have been set up by Renesas Electronics India Private Limited and are poised to place India among a select group of nations working at the cutting edge of chip technology.
     
    Vaishnaw said, “Designing at 3nm is truly next-generation. We’ve done 7nm and 5nm earlier, but this marks a new frontier.” He added that the launch reaffirms India’s growing presence in the global semiconductor space and reflects increasing industry confidence, witnessed at global platforms such as the World Economic Forum in Davos.
     
    The new centres are part of a broader strategy by the government to build a robust semiconductor ecosystem, spanning design, fabrication, ATMP (Assembly, Testing, Marking, and Packaging), and the supply of associated equipment, chemicals, and gases. The government has also been focusing on nurturing a skilled workforce to meet the growing demand in the semiconductor industry.
     
    Vaishnaw also announced the launch of a new semiconductor learning kit designed to strengthen practical hardware skills among engineering students. Over 270 academic institutions, which have already received access to advanced EDA (Electronic Design Automation) software tools through the India Semiconductor Mission, will also receive these hands-on kits. “This integration of software and hardware learning will create truly industry-ready engineers. We are not just building infrastructure but investing in long-term talent development,” he said, lauding the efforts of CDAC and the ISM team for their efficient execution.
     
    Renesas Electronics CEO and Managing Director Hidetoshi Shibata, who was present at the event, described India as a strategic cornerstone for the company. He said Renesas is expanding its end-to-end semiconductor capabilities in India, from architecture to testing, while actively supporting over 250 academic institutions and a range of startups through government-backed initiatives such as the India Semiconductor Mission and the Production Linked Incentive (PLI) scheme. He also underscored the importance of Indo-Japan collaboration in redefining the global semiconductor lifecycle.
  • MIL-OSI Europe: Answer to a written question – Effectiveness and promotion of EU initiative to plant 3 billion trees by 2030 – E-001310/2025(ASW)

    Source: European Parliament

    The EU pledge for planting 3 billion additional trees in the EU by 2030 was launched in 2021 as a non-binding, but meaningful target to further enhance afforestation for climate, biodiversity and the bioeconomy[1]. Its implementation depends on voluntary grass-roots initiatives across the EU.

    The Commission supports tree planting initiatives by giving them visibility though a web page[2] including a ‘ counter’[3] launched in April 2022. Although not all planted trees are reported, up to now, 65  organisations[4] in the 27 Member States have participated, as well as numerous citizens, via the dedicated MapMyTree[5] application . Organisations vary from state or region authorities to cities, private companies, foundations, universities and non-governmental organisations.

    In order to further promote the pledge, in March 2025, the Commission announced the ‘Tree billion trees Award’[6] that will be organised starting from 2026 in order to recognise innovative and impactful tree-planting projects.

    There is no specific budget for implementing this voluntary pledge. However, several possibilities exist to fund afforestation and tree planting projects at local level. The Commission published guidance on such funding[7] opportunities in 2024 and will update it before end of 2025.

    The Commission does not plan to appoint national coordinators, but it may support local initiatives, in particular through jointly organised events. An expert report on the challenges to implement the pledge will be published in 2025.

    • [1]  Commission Staff Working Document The 3 Billion Tree Planting Pledge For 2030 accompanying the document Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – New EU Forest Strategy for 2030, SWD/2021/651 final.
    • [2] https://environment.ec.europa.eu/strategy/biodiversity-strategy-2030/3-billion-trees_en.
    • [3] https://forest.eea.europa.eu/policy-and-reporting/3-billion-trees.
    • [4] https://forest.eea.europa.eu/policy-and-reporting/3-billion-trees/organisations?searchTerm=.
    • [5] https://mapmytree.eea.europa.eu/.
    • [6] https://environment.ec.europa.eu/strategy/biodiversity-strategy-2030/3-billion-trees/3-billion-trees-award_en.
    • [7] https://op.europa.eu/en/publication-detail/-/publication/c216e918-d646-11ee-b9d9-01aa75ed71a1/language-en.
    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Transparency in the use of Global Gateway funds for Rwanda – P-001069/2025(ASW)

    Source: European Parliament

    Information on Global Gateway and its flagship projects is available on the European Commission’s website[1], which also provides links to approved action documents. EU Delegations also regularly facilitate dialogue with civil society and the private sector in partner countries, sharing information on EU investments. The European Parliament is kept informed both through its observer role on the Global Gateway Board and its participation in the strategic board for the European Fund for Sustainable Development Plus (EFSD+), main Commission tool for mobilising investments.

    As regards the selection of Strategic Projects under the Critical Raw Materials (CRM) Act[2], the evaluation is conducted by external experts with professional expertise in the technical, financial, environmental, social and governance dimensions. In line with Article 7 of the CRM Act, the proposed list of Strategic Projects is then presented for the opinion of the CRM Board chaired by the Commission and composed of Member States, with the European Parliament as an observer. The final list is then adopted by a Commission Decision.

    The contribution of EUR 900 million in a Team Europe approach (EU, Member States, European Investment Bank) for Global Gateway projects was announced in a communiqué from the President of the Commission on 18 December 2023[3]. The funding will support four Global Gateway Initiatives on green deal, connectivity, health and education[4]. They won’t be directly or indirectly linked to the mining sector as they target inclusive and sustainable agricultural transformation, youth led innovation and green investment in Rwandan cities, vaccines, medicines and health technologies, and early childhood services.

    • [1] https://international-partnerships.ec.europa.eu/publications-library/global-gateway-flagship-projects-infographics_en .
    • [2]  https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202401252 .
    • [3]  https://ec.europa.eu/commission/presscorner/detail/en/ip_23_6724 .
    • [4]  https://www.eeas.europa.eu/delegations/rwanda/global-gateway-rwanda_en?s=115.
    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – State of the automotive industry in Europe – E-002579/2024(ASW)

    Source: European Parliament

    The Commission undertook a thorough analysis of the economic, social and environmental impacts before proposing amendments to the CO2 emission standards for cars and vans in 2021[1] and considered the developments in other regions of the world, including China. The Commission continues to monitor the progress towards zero-emission road mobility and it will submit its first biennial report by the end of 2025.

    On 5 March 2025, the Commission put forward an Action Plan for the European automotive sector[2], which builds on a Strategic Dialogue launched by the President of the Commission[3]. The action plan includes a package of measures to further support the EU battery industry, including financing under the Innovation Fund, looking into direct production support to companies producing batteries and non-price criteria for components such as resilience requirements. This complements the existing public support, which has been essential to the development of the EU battery industry, including the two battery-related Important Projects of Common European Interest[4], alongside the support provided by Member States through the Temporary Crisis and Transition Framework[5].

    During his hearing, the Commissioner for Energy and Housing highlighted the role of nuclear energy in supporting decarbonisation and competitiveness in Europe. Nuclear energy is, and will continue to be, an integrated part of the EU energy mix. The planned EU Clean Energy Investment Strategy will address the investment needs for nuclear energy and will be underpinned by a Nuclear Illustrative Programme. Moreover, the Commission facilitates the development and deployment of small modular reactors in Europe within the dedicated Industrial Alliance[6].

    • [1] Impact assessment accompanying Proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2019/631 as regards strengthening the CO2 emission performance standards for new passenger cars and new light commercial vehicles in line with the EU’s increased climate ambition.
    • [2] https://transport.ec.europa.eu/document/download/89b3143e-09b6-4ae6-a826-932b90ed0816_en?filename=Communication%20-%20Action%20Plan.pdf .
    • [3] https://ec.europa.eu/commission/presscorner/detail/en/ip_25_378 .
    • [4] https://www.ipcei-batteries.eu/.
    • [5] https://competition-policy.ec.europa.eu/state-aid/temporary-crisis-and-transition-framework_en.
    • [6] https://single-market-economy.ec.europa.eu/industry/industrial-alliances/european-industrial-alliance-small-modular-reactors_en.
    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI USA: Tonko Spotlights NY-20 Family’s Medicaid Story During Markup of GOP Budget

    Source: United States House of Representatives – Representative Paul Tonko (Capital Region New York)

    WASHINGTON, D.C. — During an Energy and Commerce Committee Markup on the Republican budget today, which includes massive cuts to health care for millions of Americans, Congressman Paul D. Tonko (NY-20) shared the story of a local Albany family in their own words about what Medicaid means to them.

    Tonko spoke directly with parents Noëlle and Nathan about the impact of Medicaid in providing support for their 12-year-old daughter, Isla. Their conversation can be viewed HERE.

    Tonko’s full remarks can be viewed HERE or read below as prepared for delivery:

    I’m here today fighting for people like Noëlle and Nathan, constituents of mine who are raising their family in Albany, New York. Their 12-year-old daughter Isla has a rare genetic disorder and has received healthcare through Medicaid for almost eight years because of her disabilities.  

    Through Medicaid, Isla is in a program where she has self-directed care, which means she has a budget for a caregiver, classes, respite care and more to best support Isla and her family.  

    Noëlle and Nathan shared with me that one of their first reactions when they heard about Republicans plans was fear of how it would impact Isla’s care.  

    In Noëlle’s words, “Medicaid changed our life. I can’t imagine what our life would be like without Medicaid. It is not only the direct impact it has on Isla’s quality of life but our entire family’s quality of life. I know our story is just one of millions of families who would be devastated by the loss of Medicaid.  

    Nathan added, “on the human level it has been life changing for us. On an economic level it allows us to work.  

    To lose it would be awful not only for our family but also for all the people we serve through our work.”  

    They explained to me that when you have a child with complex medical needs and disabilities you are constantly navigating systems to advocate for your child in educations settings, in healthcare settings and in dealing with insurance.  

    Noëlle described how as a parent of a child with disabilities you are often pushing through all the red tape for your child’s needs to be respected.  

    Let’s not add more red tape for this family.

    Noëlle also described how Medicaid provides Nathan and her with a breath of relief of thinking about these supports for Isla as she gets older and enters adulthood.  

    Noëlle’s shared a friend’s sentiment that Isla doesn’t need to change for the world, the world needs to change for Isla. I could not agree more.  

    Noëlle asked Members of this Committee to rethink these devastating cuts and instead provide respect and dignity for families and individuals living with disabilities.  

    On behalf of Isla and her family and families like hers across my district, New York State and the nation, I demand that we reverse course on all the cuts to Medicaid and additional red tape that would hurt so many people.  

    With that, let’s say ‘NO’ to lining the pockets of billionaires and ‘YES’ to providing access to affordable healthcare via Medicaid for so many.

    MIL OSI USA News

  • MIL-OSI USA: Welch Takes on PBMs During Senate Judiciary Committee Hearing 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    WASHINGTON, D.C. – In a Senate Judiciary Committee hearing today, U.S. Senator Peter Welch (D-Vt.) pressed Pharmacy Benefit Managers (PBMs) on how their anti-competitive practices have raised costs for Vermont patients by undermining competition in the prescription drug supply chain. Senator Welch also discussed how PBMs’ lack of transparency has crushed and driven community pharmacies in Vermont and around the country out of business. 
    “We only have 126 independent pharmacies in Vermont. They’ve been going out of business left and right. In my view, they’re absolutely critical to the community. Main street’s getting devastated—this is especially true in rural America,” said Senator Welch. “Mr. Scott, I want to ask you—how in the world can a business survive if they sell the product at what is an agreed upon price, and then you reimburse them at a lower price months after the fact? How in the world is that a fair business model that makes it at all possible for our community pharmacies to survive?” 
    Mr. Juan Carlos Scott, President & Chief Executive Officer, Pharmaceutical Care Management Association, answered: “We all have the same goal, Senator. We need a healthy retail pharmacy market, because if we can’t serve patients with those access points…” 
    Senator Welch responded: “You know what? We don’t have a healthy retail pharmacy market—it doesn’t exist. They’re under incredible pressure, and we can be blind to it…I want an answer of how we deal with Mr. McDonough, how we deal with Jeff Hochberg, and how we deal with all of these community pharmacies in our small towns throughout the country.” 
    Watch the exchange between Senator Welch and Pharmaceutical Care Management Association President and CEO Juan Carlos Scott below: 

    Senator Welch has championed bipartisan initiatives to lower prescription drug prices for Vermonters. Senators Welch and Josh Hawley (R-Mo.) recently introduced the Fair Prescription Drug Prices for Americans Act, bipartisan legislation that would offer relief for millions of patients by prohibiting pharmaceutical companies from selling drugs in the United States at higher prices than an international average, ending the practice of forcing Americans to pay the world’s highest prices for medications.    
    In March, Senators Welch and Roger Marshall (R-Kan.) led their colleagues in introducing the bipartisan Protecting Pharmacies in Medicaid Act to crack down on PBMs’ use of ‘spread pricing,’—charging Medicaid more than PBMs pay pharmacies for a drug—which drives up costs for Medicaid and short-changes pharmacies that are already struggling to stay in business. The bill would save Medicaid an estimated $2 billion over 10 years. 
    Last Congress, Senator Welch and Sens. Mike Braun (R-Ind.) and Amy Klobuchar (D-Minn.) led the introduction of bipartisan, bicameral legislation to streamline prescription drug patent litigation, encourage fair market competition, and lower prescription drug prices. 

    MIL OSI USA News

  • MIL-OSI Europe: Text adopted – 2023 and 2024 reports on Türkiye – P10_TA(2025)0092 – Wednesday, 7 May 2025 – Strasbourg

    Source: European Parliament

    The European Parliament,

    –  having regard to the European Council conclusions of 17 and 18 April 2024, 30 June 2023, 23 June 2022, 24 June 2021 and 12 December 2019, and to all relevant previous Council and European Council conclusions,

    –  having regard to Türkiye’s membership of the Council of Europe and NATO,

    –  having regard to the Agreement between the European Union and the Republic of Turkey on the readmission of persons residing without authorisation(1) (EU-Turkey Readmission Agreement),

    –  having regard to the statement of the members of the European Council of 25 March 2021 on Türkiye,

    –  having regard to the ‘EU-Turkey statements’ of 18 March 2016 and 29 November 2015,

    –  having regard to the ‘Turkey Negotiating Framework’ of 3 October 2005,

    –  having regard to the declaration issued by the European Community and its Member States on 21 September 2005 following the declaration made by Turkey upon its signature of the Additional Protocol to the Ankara Agreement on 29 July 2005,

    –  having regard to the Council conclusions of December 2006 and March 2020, and to the Presidency Conclusions of the European Council in Copenhagen of 21-22 June 1993, also known as the Copenhagen Criteria,

    –  having regard to the Council conclusions on Enlargement of 17 December 2024 and of 12 December 2023,

    –  having regard to the International Law of the Sea and the United Nations Convention on the Law of the Sea (UNCLOS),

    –  having regard to the Commission communication of 30 October 2024 on EU enlargement policy (COM(2024)0690) and to the accompanying Türkiye 2024 Report (SWD(2024)0696),

    –  having regard to the Commission communication of 8 November 2023 on EU enlargement policy (COM(2023)0690) and to the accompanying Türkiye 2023 Report (SWD(2023)0696),

    –  having regard to Special report 06/2024 of the European Court of Auditors of 24 April 2024 entitled ‘The Facility for Refugees in Turkey – Beneficial for refugees and host communities, but impact and sustainability not yet ensured’,

    –  having regard to the joint communications from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy to the European Council of 29 November 2023 (JOIN(2023)0050) and of 22 March 2021 (JOIN(2021)0008) on the state of play of EU-Türkiye political, economic and trade relations,

    –  having regard to the Commission communication of 19 December 2024 entitled ‘Eighth Annual Report of the Facility for Refugees in Türkiye’ (COM(2024)0593),

    –  having regard to the fundamental principles of international law and to the Charter of the United Nations, the 1977 and the 1979 High-Level Agreements between the leaders of the two communities, and the relevant resolutions of the UN Security Council on Cyprus, including Resolution 186 (1964) of 4 March 1964, which reaffirms the sovereignty of the Republic of Cyprus, Resolution 550 (1984) of 11 May 1984 on secessionist actions in Cyprus, Resolution 789 (1992) of 25 November 1992, and Resolution 2537 (2020) on the UN Peacekeeping Force in Cyprus (UNFICYP),

    –  having regard to Article 46 of the European Convention on Human Rights (ECHR), which states that the contracting parties undertake to abide by the final judgment of the European Court of Human Rights (ECtHR) in any case to which they are parties, and to the ensuing obligation of Türkiye to implement all judgments of the ECtHR,

    –  having regard to the relevant resolutions of the Committee of Ministers of the Council of Europe,

    –  having regard to the 2025 Freedom in the World report published by Freedom House,

    –  having regard to the 2024 World Press Freedom Index published by Reporters Without Borders,

    –  having regard to the January 2025 prison statistics report published by the Civil Society in the Penal System Association (CISST) and to the 2024 country profile for Türkiye published by Prison Insider,

    –  having regard to the Global Gender Gap Report 2024 published by the World Economic Forum,

    –  having regard to recent reports of the We Will Stop Femicide Platform (Kadın Cinayetlerini Durduracağız Platformu),

    –  having regard to the UNESCO statement on Hagia Sophia of 10 July 2020, and to the relevant UNESCO World Heritage Committee decisions 44 COM 7B.58 (2021) and 45 COM 7B.58 (2023), adopted in its 44th and 45th sessions respectively,

    –  having regard to its previous resolutions on Türkiye, in particular those of 13 September 2023 on the 2022 Commission Report on Türkiye(2), of 7 June 2022 on the 2021 Commission Report on Turkey(3), and of 26 November 2020 on escalating tensions in Varosha following the illegal actions by Türkiye and the urgent need for the resumption of talks(4),

    –  having regard to its resolution of 29 February 2024 on deepening EU integration in view of future enlargement(5),

    –  having regard to its resolution of 15 April 2015 on the centenary of the Armenian Genocide(6),

    –  having regard to its resolutions of 5 May 2022 on the case of Osman Kavala in Turkey(7), of 10 October 2024 on the case of Bülent Mumay in Türkiye(8) and of 13 February 2025 on recent dismissals and arrests of mayors in Türkiye(9),

    –  having regard to European Commission President Ursula von der Leyen’s visit to Ankara in December 2024,

    –  having regard to Rule 55 of its Rules of Procedure,

    –  having regard to the report of the Committee on Foreign Affairs (A10-0067/2025),

    A.  whereas Türkiye remains a candidate for EU accession, and EU membership remains the repeatedly declared political goal of the Turkish Government, although the gap with the values and interests of the EU is growing; whereas EU accession negotiations have effectively been at a standstill since 2018, owing to the deterioration of the rule of law and democracy in Türkiye;

    B.  whereas any accession country is expected to respect democratic values, the rule of law and human rights, and to abide by EU law; whereas Türkiye needs to credibly demonstrate its commitment to closer relations and alignment with the European Union in order to reinvigorate its European perspective; whereas being a candidate country presumes a willingness to progressively approach and align with the EU in all aspects, including values, interests, standards and policies, inter alia with its common foreign and security policy, to respect and uphold the Copenhagen criteria, and to pursue and maintain good neighbourly relations with the EU and all of its Member States without discrimination; whereas the tensions between the EU and Türkiye in relation to the situation in the Eastern Mediterranean have de-escalated but not ceased; whereas Türkiye has repeatedly been asked to refrain from all actions which violate the sovereignty and sovereign rights of all EU Member States and are in breach of international and EU law;

    C.  whereas the 2023 Commission progress report on Türkiye painted a picture of continued backsliding, while its latest progress report of 2024 appears to present a slightly more positive overall picture of progress on enlargement-related reforms in Türkiye, such as in the area of economic and monetary policies; whereas this cannot, however, be applied to the core matters related to democracy and fundamental rights, which have deteriorated even further since the release of the Commission’s latest report; whereas the gap between Türkiye and the EU’s values and normative framework has therefore remained unaddressed during the recent period with the persistent use of laws and measures aimed at curtailing the rule of law and human rights, fundamental freedoms and civil liberties;

    D.  whereas the joint communication on the state of play of EU-Türkiye relations of 29 November 2023 struck a more positive note, putting forward a set of recommendations on cooperating in areas of joint interest in a phased, proportionate and reversible manner and based on the established conditionalities; whereas only a few concrete steps in line with the commitments therein have been taken so far; whereas the April 2024 European Council mandated Coreper to advance in the implementation of this joint communication; whereas nevertheless this joint communication has not yet received a clear political endorsement by the Council;

    E.  whereas Türkiye is a member of the Council of Europe and is therefore bound by the judgments of the ECtHR; whereas owing to its failure to apply landmark ECtHR rulings, Türkiye is currently facing historical infringement proceedings; whereas Türkiye consistently ranks among the countries most frequently found in violation of the human rights and fundamental freedoms protected by the European Convention on Human Rights; whereas as of late November 2024, Türkiye had the highest number of pending cases before the ECtHR, with 22 450 applications, representing 36,7 % of the Court’s total caseload of 61 250 applications;

    F.  whereas Türkiye is classified as ‘not free’ by Freedom House and has experienced one of the worst declines in the level of freedom in the world in the past 10 years; whereas Türkiye ranks 158th out of 180 countries in the 2024 World Press Freedom Index; whereas the Turkish Government has closed dozens of media outlets, routinely blocks online articles, is reported to control 85 % of national media and uses its state agency Anadolu as an organ of propaganda;

    G.  whereas the Turkish constitution provides for sufficient protection of fundamental rights, but the practice of the institutions and the critical state of the judiciary, including the lack of respect for Constitutional Court rulings, are the main reasons for the dire situation of the rule of law and human rights in the country, issues repeatedly described in the reports of the EU, the Council of Europe and international organisations;

    H.  whereas Türkiye has the highest incarceration rate and the largest prison population of all Council of Europe Member States, with an overcrowded prison population that has grown by 439 % between 2005 and 2023 and currently represents more than a third of all inmates of Council of Europe countries;

    I.  whereas Türkiye is ranked 127th out of 146 countries in the 2024 Global Gender Gap Index, underscoring severe gender inequality and systemic failures in protecting women’s rights; whereas according to the 2024 report of the We Will Stop Femicide Platform (Kadın Cinayetlerini Durduracağız Platformu), 394 women were murdered by men and 259 women were found dead in suspicious circumstances in Türkiye in 2024, the highest number recorded since the civil society group started collecting data in 2010; whereas in its 2023 report, the platform noted that 315 women were killed by men, and 248 women were found dead in suspicious circumstances;

    J.  whereas in recent months, Türkiye has taken steps towards the resumption of a process for a peaceful resolution of the Kurdish question; whereas on 27 February 2025 jailed militant leader Abdullah Öcalan called on his Kurdistan Workers’ Party (PKK) to disarm and disband, providing a historic opportunity to end the Turkish-Kurdish conflict; whereas these efforts have been accompanied by increasing repression and the curtailment of the powers of democratic local governments, including the dismissal of elected Kurdish and other opposition mayors;

    K.  whereas, alongside being a candidate for EU accession, Türkiye is a NATO ally and a key partner in the areas of trade, economic relations, security, the fight against terrorism, and migration; whereas Türkiye continues to play a key role in the region, acts as a bridge between Europe and Asia, and remains a key partner for the stability of the wider East Mediterranean region; whereas Türkiye continues to play a significant role in the Syrian conflict and maintains a military presence in northern Syria;

    L.  whereas Türkiye has not aligned with EU sanctions against Russia; whereas trade between Türkiye and Russia has nearly doubled since the EU’s imposition of sanctions against Russia; whereas despite some steps taken, Türkiye has not prevented its territory from being used to circumvent EU sanctions against Russia;

    M.  whereas the 2024 Commission progress report on Türkiye states that, as at 30 September 2024, the country maintained a very low alignment rate of 5 % with relevant statements of the High Representative on behalf of the EU and with relevant Council decisions, compared to 9 % in 2023;

    N.  whereas Türkiye is the EU’s fifth largest trade partner, and the EU is Türkiye’s largest trading partner by far, as well as its primary source of foreign direct investment;

    O.  whereas in the past year, the level of engagement between the EU and Türkiye has increased in terms of both technical and high-level meetings in sectoral areas;

    P.  whereas Türkiye has applied for membership of BRICS+ and shown interest in joining the Shanghai Cooperation Organisation (SCO);

    Q.  whereas following a period of unorthodox economic policy, Türkiye has implemented a tighter monetary policy over the past year leading to a reduction in external imbalances and a moderation of inflationary pressures;

    R.  whereas in March 2025 the Turkish Government spent at least USD 10 billion of its currency reserves to counteract the collapse of its financial markets and the devaluation of the lira caused by its decision to arrest and detain Mayor of Istanbul and prominent opposition politician Ekrem İmamoğlu; whereas the Turkish Government’s undermining of Turkish democracy and the rule of law creates an unfavourable environment for foreign direct investment and hence weakens the Turkish economy, with grave consequences for the socio-economic situation of Turkish citizens;

    S.  whereas Türkiye hosts the largest refugee population in the world, with around 3,1 million registered refugees, mainly from Syria, Iraq and Afghanistan; whereas since 2011 the EU has directed more than EUR 10 billion to assisting refugees and host communities in Türkiye; whereas according to a credible investigative report by Lighthouse Reports and eight media partners, the EU is funding removal centres in Türkiye implicated in the detention, abuse and forced deportations of refugees under the guise of voluntary return;

    T.  whereas in addition to the emergency assistance coordinated via the EU Civil Protection Mechanism, with an estimated financial value of EUR 38 million, the EU provided EUR 78,2 million in humanitarian aid for the earthquake response in 2023, and EUR 26 million in humanitarian aid in 2024; whereas the EU signed an additional EUR 400 million in assistance under the EU Solidarity Fund to finance recovery operations following the devastating earthquake;

    U.  whereas Türkiye has systematically misused counterterrorism laws to target elected officials, opposition politicians, journalists and human rights defenders, among others;

    Commitment to EU accession

    1.  Recognises the long-standing aspirations of Turkish civil society regarding accession to the European Union; welcomes the Turkish Government’s recent statements reiterating its commitment to EU membership as a strategic goal amid an effort to revitalise EU-Türkiye relations in line with relevant European Council conclusions in a phased, proportionate and reversible manner; recognises the EU’s commitment to fostering this engagement through enhanced dialogue and cooperation but encourages it to review its expectations for engagement in the foreseeable future, in light of the deterioration of democratic standards that has been pushing the country towards an authoritarian model over the past decade, accelerating recently with the politically motivated arrest of President Recep Tayyip Erdoğan’s main political opponent, Mayor of Istanbul Metropolitan Municipality Ekrem İmamoğlu;

    2.  Stresses that EU membership is contingent on fulfilling the accession (Copenhagen) criteria, which require stable institutions that guarantee democracy, the rule of law, human rights, respect for and the protection of minorities, good neighbourly relations, respect for international law and alignment with the EU CFSP; further notes that these are absolute criteria, not issues subject to transactional strategic considerations and negotiations; stresses that recognition of all Member States is a necessary component of the accession process;

    3.  Regrets, in this regard, that the aforementioned positive statements have not been accompanied by any concrete actions by the Turkish authorities to close the persistent and vast gap between Türkiye and the EU on values and standards, particularly with regard to the fundamentals of the accession process; reiterates its previously adopted conclusion that the Turkish Government continues to show, as it has done for the past few years, a clear lack of political will to carry out the necessary reforms to reactivate the accession process and continues to pursue a deeply entrenched authoritarian understanding of the presidential system;

    4.  Acknowledges the strategic and geopolitical importance of Türkiye, and its increasing presence and influence in areas critical to international security, such as the Black Sea region, including Ukraine, and the Middle East; reiterates that Türkiye is a strategic partner and NATO ally, and a country with which the EU has close relations in the areas of security, trade, economy and migration; welcomes closer cooperation between Türkiye and the EU, to which the Turkish Government has made frequent reference, but stresses that this cannot in any way be a substitute for the necessary real progress which Türkiye, as a candidate country, needs to make with regard to meeting the fundamental requirements for accession; highlights, in this regard, that there are no shortcuts in the accession process and that no argument can be put forward to avoid discussing the democratic principles which are at the core of the accession process;

    5.  Notes that the Commission’s Türkiye report 2024 paints a more positive picture of reform implementation in the context of Türkiye’s accession process than the Türkiye report 2023, shifting from further deterioration to ‘no progress’ with regard to the rule of law and human rights issues; is of the opinion, however, that at least in key areas such as democracy, rule of law and fundamental rights, this is due to the fact that a very low point had already been reached and this situation has remained unchanged;

    6.  Further takes note of a nuanced shift in focus of the Türkiye report 2024, by contrast with the 2023 report, away from the accession process towards a strategic partnership between the European Union und Türkiye; is of the opinion that the critical state of the accession process is driving the Commission and the Council to focus merely on the partnership dimension of the EU’s relations with Türkiye, as is also reflected in the joint communication on the state of play of EU-Türkiye relations of 29 November 2023, and of 22 March 2021; highlights the increasing shift towards a different framework for the relationship, which might come at the expense of the accession process;

    The core of the accession process: democracy, the rule of law and fundamental rights

    7.  Considers that, in terms of human rights and the rule of law, Parliament’s recent resolutions on the matter remain valid in light of the continued dire human rights situation and democratic backsliding in Türkiye over the last year; fully endorses the latest resolutions of the Parliamentary Assembly of the Council of Europe and the related report by its Monitoring Committee, as well as the resolutions adopted by the Committee of Ministers of the Council of Europe, which depict in detail the wide range of serious shortfalls in human rights constantly reported by locally and internationally renowned human rights organisations;

    8.  Notes the Turkish Government’s stated commitment to judicial reform and the introduction of measures of an organisational nature; highlights, however, the need to introduce structural measures ensuring judicial independence; deeply regrets that, despite a reform strategy with nine judicial reform packages, the state of independence of the judiciary in Türkiye remains desolate following systematic government interference in and political instrumentalisation of the judicial system; deplores, in this regard, the weakening of remaining constitutional review mechanisms, particularly individual applications, and the frequent violations of due process;

    9.  Is dismayed by the persecution of legal professionals, including most recently the lawsuit filed by the Istanbul Chief Public Prosecutor’s Office that resulted in the removal of the leadership of the Istanbul Bar Association on charges of ‘making propaganda for a terrorist organization’ and ‘publicly disseminating misleading information’ for having asked for an investigation into the murders of two Kurdish journalists in Syria, and in the imprisonment of one of the members of the Istanbul Bar Association’s executive board following his trip to Strasbourg to hold meetings with Council of Europe institutions;

    10.  Is alarmed by the blatant lack of implementation of decisions by the Constitutional Court, including in the case of MP Can Atalay, which has turned into a serious judicial crisis, with the Court of Cassation filing a criminal complaint against nine judges of the Constitutional Court; is worried by the recent decision of the Court of Cassation to overturn the sentences of and release the terrorists involved in the ISIS attack at Istanbul’s Atatürk Airport, which claimed 45 lives in 2016;

    11.  Calls on Türkiye to strengthen its commitment to democratic governance, especially through reforms that ensure an independent judiciary; takes notes of the recent announcement of the Fourth Judicial Reform Strategy, spanning 2025-2029; calls on the Turkish Government to move from the superficial changes made so far through the recurrent reform packages and action plans to a profound and long overdue reform that will address, through real political will, the serious and structural shortcomings of Türkiye’s judiciary; stresses that putting an end to political interference in the judiciary requires no strategy or reform package but merely the political will to do so;

    12.  Remains deeply concerned by the continued deterioration of democratic standards and relentless crackdown by the Turkish authorities on any critical voices by means of a growing battery of repressive laws, the regular misuse of counterterrorism laws, including their application in relation to minors (as in the ‘Kız Çocukları Davası’ trial), the disproportionate use of the crime of insulting a public official, the extensive use of secret witnesses and dormant cases in flawed judicial proceedings, and the recurrent practice of exaggerated night arrests and home raids to portray targeted persons as extremely dangerous;

    13.  Welcomes the withdrawal in November 2024 of the draft amendment to Türkiye’s espionage laws, known as the ‘agent of influence’ law; urges the Turkish authorities to refrain from reintroducing a similar overly broad and vague law in the future, given the serious risk that it would be used as a tool to further criminalise the legitimate activities of civil society organisations within the country; calls on the Turkish authorities to ensure that the recently approved cybersecurity bill will serve its legitimate purpose of protecting data privacy and national security without giving way to potential infringements of fundamental rights or becoming another tool for further repression; stresses that the judicial apparatus remains heavily restrictive, with a complex web of legislation serving as a tool to systematically control and silence any critical voice, such as the 2020 social media law, the 2021 anti-money laundering law and the 2022 disinformation law;

    14.  Is concerned by the recent approval of legal provisions granting extraordinary powers to the State Supervisory Council (DDK) and the Savings Deposit Insurance Fund (TMSF), including the possibility for the former to dismiss public officials of all types and levels and appoint trustees, which could be used in an arbitrary manner;

    15.  Urges the Turkish authorities to put an end to the current serious restrictions on fundamental freedoms, in particular of expression, of assembly and of association, and to the constant attacks on the fundamental rights of members of the opposition, human rights defenders, lawyers, trade unionists, members of minorities, journalists, academics, artists and civil society activists, among others; strongly condemns the recent waves of mass arrest and imprisonment on politically motivated charges, and on the grounds of suspected terror links, affecting political figures, academics and journalists, including the arrests of Elif Akgül, independent journalist, Yıldız Tar, editor in chief of LGBT+ news site Kaos GL, Ender İmrek, columnist of Evrensel daily, and Joakim Medin, Swedish journalist for ETC, all well known for their work on human rights issues;

    16.  Strongly condemns the recent arrest and detention of the Swedish journalist Joakim Medin; reiterates that freedom of the press is a fundamental right and core EU value; strongly condemns the accusations made against Joakim Medin, which are solely based on his journalistic work and therefore demands his immediate and unconditional release and that of other journalists imprisoned for exercising their freedom of speech;

    17.  Deplores the continued prosecution, censorship and harassment of journalists and independent media, denying them the freedom to carry out their professional duties and inform the public, which is essential to a functioning democratic society; calls on the Turkish authorities to refrain from further attacks on independent media and to uphold fundamental rights and civil liberties such as freedom of speech and of the press; remains deeply concerned by the existing legislation that prevents an open and free internet, with lengthy prison sentences imposed for social media posts, scores of access blocks and content removal orders, and by the continued use of the Radio and Television Supreme Council (RTÜK) to crack down on media criticism and even on outlets deemed to spread ‘pessimism’ instead of positive news;

    18.  Acknowledges the positive developments in relation to the partial lifting by the minister of the interior of restrictions on the weekly vigils of the Saturday Mothers, Cumartesi Anneleri, in Istanbul’s Galatasaray Square, and the recent acquittal of all 46 people prosecuted for more than 6 years in the case surrounding the organisation’s 700th gathering in August 2018; calls for the complete removal of all restrictions on their peaceful protest, in full compliance with the relevant Constitutional Court ruling, and for an end to the ongoing judicial case against several of its members and sympathisers; is concerned by the ongoing trial against prominent human rights defender Nimet Tanrıkulu, who was released on 4 March 2025 after spending 94 days in pre-trial detention; urges the Turkish authorities to ensure the immediate release of all individuals detained for exercising their fundamental freedoms;

    19.  Continues to be appalled by the Turkish authorities’, in particular the Turkish judiciary’s, continuous disregard for and failure to apply landmark ECtHR rulings; reiterates its condemnation of Türkiye’s blatant misuse of the judicial system and the refusal to release from detention human rights defender Osman Kavala and opposition politicians Selahattin Demirtaş and Figen Yüksekdağ,for which Türkiye is facing historical infringement proceedings in the Council of Europe, with long-awaited consequences yet to be determined; is appalled by the recent filing and acceptance of a new indictment against Selahattin Demirtaş in which the Diyarbakır Chief Public Prosecutor’s Office asks for up to 15 years of imprisonment and a ban on his political activities on the basis of several speeches he made in 2016; calls on Türkiye to fully comply with the ECtHR judgements related to missing persons and properties (inter alia in the Fokas case) in Cyprus; deplores the politically motivated nature of these prosecutions, which form part of a broader pattern of judicial harassment; calls on Türkiye to fully implement all judgments of the ECtHR in line with Article 46 of the ECHR and in line with the unconditional obligations derived from Article 90 of the Turkish constitution; calls on the European Commission and Member States to use all diplomatic channels to urge Türkiye to implement relevant ECtHR rulings and consider implementing relevant funding conditionality in relation to compliance with ECtHR rulings;

    20.  Calls on Türkiye to respect the European Court of Human Rights decision of 24 January 2008, which found Türkiye guilty of breaching Article 2 of the European Convention on Human Rights, due to its failure to locate and prosecute those responsible in the case of the murders of Tassos Isaak and Solomos Solomou, which were committed in Cyprus in 1996; calls on the Turkish authorities to enforce the international arrest warrants against the murder suspects, and hand them over to the Republic of Cyprus;

    21.  Expresses its deep concern about the dire situation in Turkish prisons owing to severe overcrowding and poor living conditions, with reports, including by the Council of Europe, of torture and ill-treatment being widespread, and access to basic needs such as hygiene and information being severely limited; is particularly worried by the conditions of imprisonment of elderly and seriously ill prisoners, such as the case of Soydan Akay, who is being unjustly kept imprisoned; calls for his immediate release on humanitarian and health grounds; is concerned by the continued use of humiliating strip searches in prisons and other places of detention and by the persisting harassment of MP Ömer Faruk Gergerlioğlu, who is currently facing six proceedings for the removal of his parliamentary seat and immunity, among other reasons for his having denounced this very practice;

    22.  Strongly condemns the Turkish Government’s decision to dismiss, following the March 2024 local elections, the democratically elected mayors of at least 13 municipalities and districts (Hakkari, Mardin, Batman, Halfeti, Tunceli, Bahçesaray, Akdeniz, Siirt, Van and Kağızman, won by the DEM Party; and Esenyurt Ovacık and Şişli, won by CHP Party) and to replace them with government trustees appointed by the interior ministry; regards this long-standing practice of appointing trustees as a blatant attack on the most basic principles of local democracy; urges the Turkish authorities to immediately cease and reverse repression of political opposition and to respect the rights of voters to elect their chosen representatives in line with the recommendations of the Congress of Local and Regional Authorities of the Council of Europe and the Venice Commission; reiterates its call on the VP/HR to consider restrictive measures under the EU Global Human Rights Sanctions Regime against Turkish officials assuming the role of trustee and those appointing them; denounces the severe repression of protests against the removal of elected mayors, including the arbitrary arrest of hundreds of protesters, some of whom were minors; regards the decision of the Turkish Government to return to this practice after the last local elections of March 2024 as a clear sign of its lack of commitment to addressing the democratic shortcomings within the country and in clear contradiction to the declared willingness to revitalise the accession process, as such actions undermine the prospects for a stronger, more comprehensive partnership with the EU and are detrimental to long-term progress towards closer cooperation;

    23.  Deplores the permanent targeting of political parties and members of the opposition, who continue to suffer increasing pressure; condemns in the strongest terms the recent arrest and removal from office of the Istanbul Metropolitan Municipality CHP Mayor Ekrem İmamoğlu, along with the mayors of Şişli and Beylikdüzü, in the framework of two separate investigations on alleged corruption and terrorist-related charges involving a total of 106 suspects; highlights that these last cases, which are part of a long list of 42 administrative and 51 judicial investigations since İmamoğlu’s election in 2019, were launched just a few days before the internal party election to nominate him presidential candidate and the day after the controverted decision by Istanbul University to revoke his diploma, a requisite for his eligibility to be President; is appalled by the decision to temporarily ban all demonstrations in Istanbul and other provinces across the country, and the slowdown on social media; condemns the Turkish authorities’ harsh crackdown on the peaceful mass protests, including the detention of nearly 2000 people, many of them students, and the prosecution of hundreds of them through hasty mass trials with a lack of any evidence of criminal wrongdoing; expresses its deep concern over the unlawful arrest of Esila Ayık, a Ghent-based photography student detained on 8 April 2025 during protests in Istanbul, particularly owing to her untreated heart and kidney conditions; calls for the immediate release of all those still in detention and the acquittal of all those prosecuted for exercising their fundamental rights; deplores the arrests, detentions and deportations of local and international journalists covering the protests, in violation of the freedom of the press; urges the Turkish authorities to promptly and effectively investigate all allegations of harassment and excessive use of force against protesters and to uphold the freedom of assembly and protest; considers that the attacks against İmamoğlu constitute a politically motivated move aimed at preventing a legitimate challenger from standing in the upcoming elections and that with these actions the current Turkish authorities are further pushing the country towards a fully authoritarian model; regrets the EU’s lack of a strong, unified response to these alarming developments;

    24.  Further expresses its concern about the recent separate cases against Istanbul’s Beşiktaş district CHP Mayor Rıza Akpolat, Istanbul’s Beykoz district CHP Mayor Alaattin Köseler, CHP Youth Branch Chair Cem Aydın, and Zafer Party Chair Ümit Özdag; is appalled by the brutal and relentless crackdown on any kind of criticism to which all sectors of Turkish society have recently been subjected by the Turkish authorities, as illustrated, among others, by the case of Ayşe Barım, a well-known talent manager imprisoned since 27 January 2025 for alleged involvement in the Gezi Park protest 12 years ago, the investigation launched against Orhan Turan and Ömer Aras, the president and an executive of TÜSIAD, the country’s main business group, and the indictment, with the aim of imposing hefty prison sentences, of Halk TV Editor-in-Chief Suat Toktaş and journalists Seda Selek, Barış Pehlivan, Serhan Asker and Kürşad Oğuz, who have been provisionally acquitted; is concerned by the involvement in these and other cases of recently appointed Istanbul Chief Public Prosecutor Akın Gürlek, who has a long record of involvement, in different positions, in high-profile cases against political figures, and which may give grounds for considering the application of restrictive measures under the EU Human Rights sanction regime; is also concerned by the growing financial pressure on opposition municipalities and controversial announcements, such as that made in relation to day-care centres run by opposition municipalities;

    25.  Expresses its deep concern at the deterioration in women’s rights, at gender-based violence and at the increase in the incidence of femicide in Türkiye in 2024, which has been the highest since 2010, the year before the signing of the Istanbul Convention; reiterates its strong condemnation of Türkiye’s withdrawal, by presidential decree, from this international agreement and reiterates its call to reverse this decision; urges the Turkish authorities to improve the legislative framework and its implementation, including by fully applying Protection Law no. 6284, in order to effectively tackle all forms of violence against women and the practice of so-called ‘honour killings’, end the persistent policy of impunity by holding abusers to account, and advance towards gender equality, particularly with regard to the participation of women in decision-making and policymaking processes; warns against further encroachments on women’s rights, as exemplified by Türkiye’s recent ban on elective caesarean sections at private medical centres without medical justification, which constitutes an unacceptable infringement on women’s bodily autonomy;

    26.  Strongly condemns the ongoing violations and lack of protection of the fundamental rights of LGBTI+ persons in Türkiye, including the increased incidence of hate speech, hate crimes and discriminatory rhetoric, as well as continued media stereotyping based on sexual orientation and gender identity; deplores the fact that this continued discrimination is often sanctioned by the authorities, as evidenced by the mass arrests made during the Pride March in 2023 and the banning of the march in 2024, while anti-LGBTI+ marches were permitted; urges the Turkish authorities to stop banning activities against homophobia, including Pride marches, with immediate effect;

    27.  Welcomes the increased dialogue with Christian minorities, but stresses that no significant progress has been registered with regard to the protection of the rights of ethnic and religious minorities, in particular as regards their legal personality, including those of the Greek Orthodox population of the islands of Gökçeada (Imvros) and Bozcaada (Tenedos); calls for Türkiye to implement the Venice Commission recommendations and all relevant ECtHR rulings in this regard; notes with concern that representatives of different confessions, including non-Muslim and Alevi communities, continue to face bureaucratic obstacles when attempting to register places of worship; highlights that this is a violation of the right to freedom of religion and belief; calls on Türkiye to adopt the long-awaited regulation on the election of board members in non-Muslim minority foundations controlling community hospitals; reiterates its call on Türkiye to respect the role of the Ecumenical Patriarchate for Orthodox Christians all over the world and to recognise its legal personality and the public use of the ecclesiastical title of Ecumenical Patriarch; calls on Türkiye to fully respect and protect the outstanding universal value of Hagia Sophia and the Chora museum, which are inscribed on UNESCO’s World Heritage List; notes with concern that Türkiye has still not implemented two decisions of the UNESCO World Heritage Committee of 2021 and 2023 regarding its obligations to undertake special measures to protect these monuments; deplores the lack of protection of Panagia Soumela Monastery, which has been put forward for inclusion in the UNESCO World Heritage Monuments list; stresses the need to eliminate restrictions on the training, appointment and succession of clergy; welcomes the envisaged reopening of the Halki Seminary and calls for the lifting of all obstacles to its proper functioning; calls on the Turkish authorities to effectively investigate and prosecute people responsible for any hate crimes, including hate speech, committed against minorities; condemns the antisemitic statements made in the media and by high-level officials following the Hamas terrorist attacks against Israel on 7 October 2023; notes that all of these practices against any religious minority are incompatible with EU values;

    28.  Welcomes Abdullah Öcalan’s recent call on the PKK to lay down arms and dissolve, and to engage in a peace process, as a historic and long-awaited step that could help end a period of 40 years of violence that has caused more than 40 000 deaths; praises the efforts made by all stakeholders involved to facilitate these developments, including the constructive approach of different political leaders that was started by MHP leader Devlet Bahçeli, the visits to Imrali prison granted to a delegation of the DEM Party, and the broad consultations that this party has led with other political parties; underlines that this represents a significant opportunity and must be followed by an inclusive political process, with a prominent role for the Turkish Parliament, aimed at the peaceful and sustainable resolution of the Kurdish issue in its political, social, democratic and security-related aspects; stresses the need to uphold human rights, political pluralism, and civil rights for all citizens, including Kurds; regrets the continued political repression, judicial harassment and restrictions on cultural and linguistic rights faced by Kurdish citizens, which undermine democratic principles and social cohesion;

    Regional cooperation and good neighbourly relations

    29.  Continues to commend Türkiye for hosting around 3,1 million refugees, including 2,9 million Syrians under temporary protection in 2024, down from 3,2 million in 2023; reiterates the importance of Türkiye’s collaboration for the effective and orderly management of migration flows; further welcomes the fact that since 2011 the EU has contributed close to EUR 10 billion to assist Türkiye in hosting refugees; notes that some EU funding has been allocated to strengthening Turkish border control and containment capabilities; welcomes the EU’s decision to allocate an additional EUR 1 billion in December 2024 to further support the healthcare, education, and integration of refugees in Türkiye since the fall of the Assad regime; at the same time, notes that these funds had already been pledged in May 2024, and therefore do not constitute new funds; calls on the Commission to ensure utmost transparency and accuracy in the allocation of funds and that EU-funded projects, particularly those related to removal centres and border control, comply with all relevant human rights standards; is alarmed by credible reports uncovering grave human rights violations at EU-funded removal centres in Türkiye and calls on the Commission to launch a transparent and independent review into the matter; notes with concern that a continuing increase in asylum applications has been registered in the Republic of Cyprus over recent years; recalls Türkiye’s obligation to take all necessary measures to halt the existing illegal migration routes and prevent the creation of new sea or land routes for illegal migration from Türkiye to the EU, particularly to Greece and the Republic of Cyprus; points out the risks related to any possible instrumentalisation of migrants by the Turkish Government; underlines the need to ensure the protection of all refugees’ and migrants’ rights and freedoms; calls on Türkiye to ensure the full and non-discriminatory implementation of the EU-Turkey Statement of 2016 and the EU-Türkiye Readmission Agreement vis-à-vis all Member States, including the Republic of Cyprus; expresses cautious hope that developments in Syria will gradually allow an increasing number of refugees to return home; reiterates that returns should only be carried out on a voluntary basis and under conditions of safety and dignity; condemns repeated violent attacks against refugees and migrants fuelled by xenophobic rhetoric among politicians and host communities; calls on the European Commission and the EU Member States to increase their efforts to preserve humanitarian and protection space for Syrian refugees in Türkiye and to uphold the principle of non-refoulement as a cornerstone of EU policies;

    30.  Reiterates its strong interest in stability and security in the Eastern Mediterranean; welcomes the continued de-escalation and positive momentum in the region and the recent climate of re-engagement between Türkiye and Greece, albeit that unresolved issues continue to affect bilateral relations; deplores the fact that Türkiye continues to violate the sovereignty and sovereign rights of EU Member States, such as Greece and the Republic of Cyprus, including through the promotion of the Blue Homeland doctrine; underlines that, although Turkish violations of Greek airspace have drastically decreased, violations of Greek territorial waters have risen compared to 2023, and systematic illegal fishing activities have been conducted by Turkish vessels within Greek territorial waters; expresses its deep concern that Türkiye continues to uphold a formal threat of war against Greece (casus belli), should the latter exercise its lawful right to extend its territorial waters up to 12 nautical miles into the Aegean Sea, in accordance with Article 3 of the United Nations Convention on the Law of the Sea; calls on Türkiye to fully respect the sovereignty of all EU Member States over their territorial sea and airspace, and their other sovereign rights, including the right to explore and exploit natural resources in accordance with EU and international law, including the United Nations Convention on the Law of the Sea (UNCLOS), which is part of the EU acquis; reiterates its view that the memorandum of understanding between Türkiye and Libya on delimitation of the maritime jurisdiction areas in the Mediterranean infringes upon the sovereign rights of third States, does not comply with the Law of the Sea and cannot produce any legal consequences for third States;

    31.  Regrets the fact that the Cyprus problem remains unresolved, and calls for serious reengagement and the political will of all parties involved to bring about peaceful UN-led negotiations, with a view to achieving real progress in the Cyprus settlement talks; welcomes the resumption of informal talks under the auspices of the UN Secretary-General on 18 and 19 March 2025, which were held in a constructive atmosphere in which both sides showed a clear commitment to making progress and continuing dialogue; welcomes the agreement between both sides on opening four crossing points, demining, establishing a youth affairs committee and launching environmental and solar energy projects, as part of a new set of confidence-building measures; encourages all sides to use this momentum to move towards the resumption of negotiations;

    32.  Strongly reaffirms its view that the only solution to the Cyprus problem is a fair, comprehensive, viable and democratic settlement, including of its external aspects, within the agreed UN framework, on the basis of a bi-communal, bi-zonal federation with a single international legal personality, single sovereignty, single citizenship and political equality, as set out in the relevant UN Security Council resolutions, the agreed areas of convergence and the Framework of the UN Secretary General, as well as in accordance with international law and the principles and values on which the Union is founded; strongly condemns Türkiye’s attempts to upgrade the secessionist entity’s status in occupied Cyprus, including via the Organisation of Turkic States, and calls on all states to respect Cyprus’ sovereignty according to UNSC resolutions; calls, as a matter of urgency, for the resumption of negotiations on the reunification of Cyprus under the auspices of the UN Secretary-General as soon as possible, from the point at which they were interrupted in Crans-Montana in 2017; calls on Türkiye to abandon the unacceptable proposal for a two-state solution in Cyprus and to return to the agreed basis for a solution and the UN framework; further calls on Türkiye to withdraw its troops from Cyprus and refrain from any unilateral action which would entrench the permanent division of the island and from action altering the demographic balance;

    33.  Calls on Türkiye to respect the status of the buffer zone and the mandate of the UN Peacekeeping Force in Cyprus (UNFICYP); reiterates its call for cooperation among the Republic of Cyprus, Türkiye, the United Kingdom and the UN to implement concrete measures for a demilitarisation of the buffer zone, and to improve security on the island; urges Türkiye and the Turkish Cypriot leadership to reverse all unilateral actions and violations within and in the vicinity of the buffer zone and refrain from any further such actions and provocations; condemns the ongoing ‘opening’ of Varosha by Türkiye, as this negatively alters the situation on the ground, undermines mutual trust and negatively impacts the prospects for the resumption of direct talks on the comprehensive solution of the Cyprus problem; calls on Türkiye to reverse its illegal actions in violation of UN Security Council resolutions 550(1984) and 789(1992) on Varosha, which call on Türkiye to transfer the area of Varosha to its lawful inhabitants under the temporary administration of the UN, and to withdraw from Strovilia and facilitate the full implementation of the Pyla Understanding;

    34.  Reiterates its deep concern regarding all unilateral actions which aim at entrenching on the ground the permanent division of Cyprus as opposed to its reunification; condemns, in this context, the recent illegal visit of President Erdoğan to the occupied areas of the Republic of Cyprus, as well as his provocative statements, which jeopardise the efforts of the UN, the EU, the international community at large and other parties involved for the resumption of substantial negotiations in the agreed framework; regrets that such unilateral actions are tantamount to a direct illegitimate intervention against the interests of the Greek and Turkish Cypriot communities;

    35.  Reiterates its call on Türkiye to give the Turkish Cypriot community the necessary space to act in accordance with its role as a legitimate community of the island, which is a right guaranteed by the constitution of the Republic of Cyprus; reiterates its call on the Commission to step up its efforts to engage with the Turkish Cypriot community, with a view to facilitating the resolution of the Cyprus problem and recalling that its place is in the European Union; calls for all parties involved to demonstrate a more courageous approach to bringing the communities together; stresses the need for the EU body of law to be implemented across the entire island following a comprehensive resolution of the Cyprus problem;

    36.  Takes note of the significant work of the Committee on Missing Persons in Cyprus (CMP) and calls for improved access to occupied military zones by the Turkish army, access to its military archives and information as to the relocation of remains from former to subsequent burial sites; remains deeply concerned about the education and religious restrictions and impediments faced by the enclaved Greek Cypriots; calls on Türkiye to step up its cooperation with the Council of Europe and its relevant bodies and institutions, to address their key recommendations, to fully implement the European Convention of Human Rights with regard to respecting the freedom of religion and the freedom of opinion and expression, and the right to access and enjoy cultural heritage, and to stop the deliberate destruction of cultural and religious heritage; condemns the repeated attempts by Türkiye to intimidate and silence Turkish Cypriot journalists, trade unionists, human rights defenders and progressive citizens in the Turkish Cypriot community, thus violating their right to freedom of opinion and expression; calls on Türkiye to halt its proclaimed aggressive policy of the sale and exploitation of Greek Cypriot properties, a policy designed to create irreversible effects on the ground and which completely disregards the European Code of Human Rights ruling on this issue;

    37.  Regrets Türkiye’s continuing refusal to comply with aviation law and establish a channel of communication between air traffic control centres in Türkiye and the Republic of Cyprus, the absence of which entails real safety risks and dangers as identified by the European Union Aviation Safety Agency and the International Federation of Air Line Pilots’ Associations; regrets, too, its denial of access to vessels under the flag of one Member State to the Straits of Bosporus and the Dardanelles; takes the view that these could be areas where Türkiye can prove its commitment to confidence building measures and calls on Türkiye to collaborate by fully implementing EU aviation law; regrets that Türkiye has continued its attempts to impede the implementation of the Great Sea Interconnector, an EU project of common interest, and has persisted in its plans for an illegal electricity interconnector with the occupied area of Cyprus;

    38.  Regrets that for 20 years Türkiye has refused to implement the obligations assumed towards the EU, including those in relation to Cyprus, as per the Negotiating Framework of October 2005; stresses that recognition of all Member States is a necessary component of the accession process; reiterates its call on Türkiye to fulfil its obligation of full, non-discriminatory implementation of the Additional Protocol to the Ankara Agreement in relation to all Member States, including the Republic of Cyprus; further calls on Türkiye to ensure that the human and political rights of all Cypriots are fully respected and that compliance with the fundamental principles of the European Union and the European acquis is guaranteed;

    39.  Affirms its support for a free, secure and stable future for Syria and its citizens and highlights the need for an inclusive and peaceful political transition process that is Syrian-led and Syrian- owned, including the protection and inclusion of religious and ethnic communities; expresses its commitment to constructive cooperation between the EU and Türkiye to that end, on humanitarian aid, promoting a sustainable political solution in Syria, and the fight against DAESH, given that Türkiye has a key role in promoting stability in the region; recalls that Syria’s sovereignty must be restored; acknowledges the importance of rebuilding Syria’s economy as a pillar of long-term stability and prosperity for the region; calls on Türkiye to respect Syria’s territorial integrity and sovereignty and immediately cease all attacks and incursions on and occupation of Syrian territory in full compliance with international law; condemns the attacks carried out in recent weeks, taking advantage of the collapse of the Assad regime, by Turkish-backed militias against Syrian Kurdish forces in the north of Syria; expresses deep concern, as these attacks increase the number of internally displaced persons but also threaten the efficiency and continuity of the fight against Daesh; notes that its ongoing presence risks further destabilising and undermining efforts towards a sustainable political resolution in Syria; further notes that, citing security concerns, Türkiye also illegally occupies areas in Iraq; reiterates that civilian populations should never be the victim of military self-defence; calls for the necessary investigation into the cases in which there have been civilian casualties and to stop the crackdown on journalists working in the area; calls on Türkiye to support the process of implementing the agreement between the Syrian transitional government and the Kurdish-led SDF and refrain from any interference in Syria’s internal processes;

    40.  Supports the normalisation of relations between Armenia and Türkiye in the interests of reconciliation, good neighbourly relations, regional stability and security and socio-economic development, and welcomes the progress achieved so far; welcomes the continued efforts to restore links between the two countries; urges Türkiye to ensure the speedy implementation of agreements reached by the Turkish and Armenian Governments’ special representatives, such as the opening of the airspace and the border between the two countries for the third country nationals, and, subsequently, for holders of diplomatic passports; welcomes the temporary opening of the Margara-Alican border crossing between Armenia and Türkiye to facilitate the delivery of humanitarian aid to Syria; expresses the hope that these developments may give impetus to the normalisation of relations in the South Caucasus region, also in terms of security and socio-economic development, and stresses the EU’s interest in supporting this process; encourages Türkiye to play a constructive role in promoting regional stability by facilitating the swift conclusion of the peace process between Armenia and Azerbaijan, inter alia by exerting its influence on Azerbaijan and by deterring Azerbaijan from any further military action against Armenian sovereignty; encourages Türkiye once again to acknowledge the Armenian genocide in order to pave the way for genuine reconciliation between the Turkish and Armenian peoples and to fully respect its obligations to protect Armenian cultural heritage;

    41.  Notes that Türkiye’s stance in relation to Russia’s war of aggression against Ukraine continues to affect EU-Türkiye relations, as Türkiye attempts to maintain ties with both the West and Russia simultaneously; notes Türkiye’s diplomatic attempts to mediate between Russia and Ukraine, particularly regarding the Black Sea Grain Initiative, as well as its continued support for the territorial integrity and sovereignty of Ukraine, including its vote in favour of UN General Assembly resolutions condemning the Russian aggression against Ukraine; regrets that, on the other hand, trade between Türkiye and Russia has risen sharply since the start of the war in Ukraine, making Türkiye Russia’s second largest trading partner despite EU sanctions against Russia, and that Türkiye is the only NATO member state not having imposed any sanctions on Russia; further notes that the European Union’s anti-fraud office, OLAF, has initiated an investigation into a loophole that enables countries like Türkiye to rebrand sanctioned Russian oil and export it to the EU; welcomes, however, positive steps such as Türkiye’s blocking of exports to Russia for certain dual use goods, as well as products originating in the United States and the United Kingdom that are of benefit to Russian military action; reiterates its call on the Turkish Government to halt its plans for the Akkuyu Nuclear Power Plant, which will be built, operated and owned by Russia’s state atomic energy corporation, Rosatom; expresses concern at Türkiye’s ongoing discussions with Russia to establish a gas-trading hub in Istanbul, scheduled to begin operations in 2025;

    42.  Welcomes Türkiye’s participation in various crisis management missions and operations (within the framework of the common security and defence policy); regrets, however, the further deterioration in the level of alignment on common foreign and security policy positions, including on sanctions and countering the circumvention of sanctions, which has fallen to a historically low rate of 5 %, the lowest rate for any accession country; recalls that EU candidate countries are required to progressively align with the common foreign and security policy of the European Union and comply with international law; regrets that Türkiye has not undertaken any steps in this regard, notably by failing to align with EU sanctions against Russia, and that in many areas of mutual interest the foreign policies of the EU and Türkiye are worryingly divergent; urges Türkiye to align with and fully implement the EU sanctions against Russia, including on anti-circumvention measures and to cooperate closely with the EU’s Sanctions Envoy;

    43.  Stresses the importance of reinforcing EU-Türkiye cooperation in global security matters, particularly in light of the changing geopolitical landscape and potential shifts in US foreign policy; expresses cautious hope that recent informal engagement, such as the participation of the Turkish Foreign Minister in the informal meeting of EU foreign affairs ministers in 2024, may provide an impetus towards better relations; acknowledges Türkiye’s key role as an ally in NATO and welcomes the Turkish Parliament’s decision to ratify Sweden’s NATO accession in January 2024; recalls, in this regard, that Türkiye has a key responsibility to foster stability at both regional and global levels and is expected to act in line with its NATO obligations, especially given the current geopolitical upheavals; encourages constructive engagement in a more structured and frequent political dialogue on foreign, security and defence policy to seek collaboration on convergent interests while working to reduce divergences, particularly with regard to removing persistent obstacles to the enhancement of a genuine relationship between the EU and NATO, including the acquisition from Russia of the S-400 air defence system; remains duly concerned that Türkiye continues to exclude a Member State from cooperation with NATO;

    44.  Welcomes Türkiye’s long-standing position in favour of a two-state solution for the Israeli-Palestinian conflict, its calls for a ceasefire in the Israel-Hamas war, and its ongoing efforts to supply humanitarian aid to Gaza throughout the conflict; deeply regrets, at the same time, the Turkish authorities’, including the President’s, active support for the EU-listed terror group Hamas and their stance on the attack against Israel on 7 October 2023, which the Turkish Government failed to condemn; points out that Türkiye’s open support for Hamas and its refusal to designate it a terrorist organisation is not compatible with the EU’s foreign and security policy; calls, therefore, for a revision of this position;

    45.  Notes with concern that Türkiye has asked to be a member of BRICS+ and been offered ‘partner country’ status, and is considering the same for the Shanghai Cooperation Organisation (SCO), where it holds the status of a dialogue partner; expresses serious concern over Türkiye’s increasing interest in an alternative partnership framework, which is fundamentally incompatible with the EU accession process; insists that Türkiye’s new status as a BRICS partner country must not affect Türkiye’s responsibilities within NATO; notes that Türkiye has been cultivating cooperation formats, partnerships and regional alliances beyond the EU; is concerned by Türkiye’s tendency to use this multi-vector approach to advance its interests without committing to a full-fledged cooperation with any of these alliances;

    46.  Remains concerned by the Turkish Government’s use of the Turkish diaspora as an instrument for occasional meddling in EU Member States’ domestic policies;

    Socio-economic and sustainability reforms

    47.  Welcomes Türkiye’s return to a more conventional economic and monetary policy, while maintaining robust growth and a moderate budget deficit; regrets, however, that the cost of this is yet again being borne by citizens in the form of higher interest rates; highlights that social vulnerabilities have increased, particularly among children and older people, primarily due to the absence of a comprehensive poverty reduction strategy and income inequalities; underlines the necessity for the Turkish authorities to implement comprehensive social protection measures, strengthen collective bargaining rights and ensure that economic reforms prioritise reducing inequality and creating decent work opportunities;

    48.  Regrets the fact that despite the progress observed in economic and monetary policies, other actions by the Turkish Government affecting the rule of law continue to undermine basic principles such as legal certainty, which impacts negatively on Türkiye’s potential capacity to receive investments; welcomes the removal of Türkiye from the grey list of the Financial Action Task Force (FATF) in June 2024, following significant progress in improving its anti-money laundering regime and combating the financing of terrorism;

    49.  Welcomes Türkiye’s increased investment activity in the green energy sector and calls on Türkiye to continue improving the compatibility of its energy policy with the EU acquis, exploiting Türkiye’s enormous potential in renewable energy; expresses concern about the lack of any significant progress on climate action, in particular owing to the absence of a comprehensive climate law, a domestic emissions trading system, and a long-term low-emission development strategy, which undermines its 2053 climate neutrality target; highlights the need for a robust legal framework and stricter enforcement mechanisms to safeguard environmental and natural resources; urges Türkiye to align its environmental policies with the EU acquis, including respecting natural habitats when conducting mining projects, and underlines the importance of Türkiye’s adherence to the Aarhus Convention; commends the work of environmental rights defenders in Türkiye and warns against the dire environmental impact of extensive government projects, such as the expansion of its copper mining activities in Mount Ida (Kaz Daglari);

    50.  Highlights the fact that Türkiye has taken steps to diversify energy supplies and increase its renewable energy share; notes that the country is the seventh largest LNG market and highlights its potential as a regional energy hub; takes note that Türkiye has subscribed to the global goals on energy efficiency and renewable energy capacity by 2030; calls on the Commission to take into account Türkiye’s potential as a regional energy hub in initiatives to increase the installed renewable capacity in the Mediterranean region and in the development of the New Pact for the Mediterranean, and calls for energy cooperation to be part of the common agenda;

    51.  Observes some improvements in labour market conditions and points out a number of pending critical challenges, such as informal employment, the gender gap, and income inequality; is worried about the low coverage of collective bargaining and the lack of recognition of trade union rights for certain public sector employees; believes that more efforts are needed to enhance social dialogue mechanisms and address emerging occupational safety challenges; recalls that trade union freedom and social dialogue are crucial to the development and prosperity of a pluralistic society; deplores, in this regard, the recent detentions of trade unionists including Remzi Çalişkan, vice-president of the DISK confederation, and president of Genel-Iş, who was released after a month in prison, Kemal Göksoy, President of the Mersin Branch of Genel-İş, who remains in prison, and Mehmet Türkmen, chair of the textile sector union BİRTEK SEN, who was detained on 14 February 2025;

    Wider EU-Türkiye relations

    52.  Reiterates its firm conviction that, beyond the currently frozen accession process, Türkiye is a country of strategic relevance, a key partner for the stability of the wider region and plays an important role in addressing security challenges, migration management, counterterrorism, and energy security; stresses the importance of maintaining constructive dialogue and deepening cooperation in areas of mutual strategic interest; points towards a number of policy areas for future engagement, whether it be the green transition, trade, energy, a modernised customs union and visa liberalisation, among others; recalls, however, that democratic backsliding and non-alignment with the CFSP are not conducive to significant progress being made in that regard; reaffirms that the EU is committed to pursuing the best possible relations with Türkiye, based on dialogue, respect and mutual trust, in line with international law and good neighbourly relations;

    53.  Stresses the importance of encouraging deeper partnership in all economic sectors, to the benefit of the EU and all of its Member States and Türkiye; notes in particular the importance of cooperation in the fields of energy, innovation, artificial intelligence, health, security and migration management, among others; in this regard, notes that various high-level dialogues (HLDs) were held recently, including the HLD on trade and the HLD on economy, as steps towards pragmatic forms of cooperation in areas of mutual importance; calls again for the resumption of all relevant HLDs and for the establishment of structured HLDs on sectoral cooperation, to address common challenges and explore opportunities, on the condition that such cooperation must go hand-in-hand with clear and consistent conditionality grounded in respect for democratic principles, the rule of law and fundamental rights, as previously underlined in this resolution;

    54.  Stands ready to support an upgraded customs union with a broader, mutually beneficial scope, which could encompass a wide range of areas of common interest, including digitalisation, Green Deal alignment for green energy policies, public procurement, sustainable development commitments, and due diligence, contributing to the economic security of both sides; supports accompanying this upgraded customs union with an efficient and effective dispute settlement mechanism; underlines the fact that for Parliament to give its consent at the end of the process, such a modernisation would need to be based on strong conditionality related to human rights and fundamental freedoms, respect for international law and good neighbourly relations, including Türkiye’s full implementation of the Additional Protocol on extending the Ankara Agreement to all Member States without exception and in a non-discriminatory fashion;

    55.  Notes with deep regret that no progress has been made by Türkiye towards meeting the required benchmarks for visa liberalisation; reiterates its willingness to start the visa liberalisation process as soon as the Turkish authorities fully fulfil the six clearly outstanding benchmarks in a non-discriminatory manner vis-à-vis all EU Member states while aligning with EU visa policy; regrets that Turkish citizens are facing problems with visa requests/applications to EU Member States owing to a marked increase in demand and fears of abuse of the system; recognises, however, the political commitment to improving access to visas and calls for intensified efforts on both sides to address the remaining technical and administrative barriers; calls on the EU Member States to increase the resources allocated to this matter; supports measures on visa facilitation, particularly with regard to business activities and Erasmus students; deeply regrets the constant attempts by the Turkish authorities to blame the EU for not making progress on this dossier, while not taking any necessary steps to comply with the remaining benchmarks; reminds Türkiye that the lack of tangible and cumulative progress on the pending conditions has a direct impact on business activities and Erasmus students; appreciates the invaluable contribution of Erasmus+ exchanges in providing rich cross-cultural educational opportunities; regrets, however, the poor oversight on the part of the Commission, exemplified by the Erasmus partnership with Gaziantep Islam Science and Technology University, whose leadership publicly expressed support for terrorist acts; calls on the Commission to ensure that partner universities respect the EU Charter of Fundamental Rights by conducting ex ante verifications and regular controls;

    The way forward for EU-Türkiye relations

    56.  Considers, in view of the above, that the Turkish Government has failed to take the necessary steps to address the existing fundamental democratic shortcomings within the country and therefore reiterates its view that Türkiye’s EU accession process cannot be resumed in the current circumstances, despite the democratic and pro-European aspirations of a large part of Turkish society; recalls that, as in the case of any other candidate, the accession process is contingent on full compliance with the Copenhagen criteria and on the normalisation of relations with all EU Member States;

    57.  Urges the Turkish Government and the EU institutions and Member States to continue working, beyond the currently frozen accession process, on the basis of the relevant Council and European Council conclusions and the established conditionality, towards a closer, more dynamic and strategic partnership with particular emphasis on climate action, energy security, counter-terrorism cooperation and regional stability; insists on the need to begin a process of reflection on how this new constructive and progressive framework for EU-Türkiye relations can encompass the interests of all parties involved, for example by modernising and enhancing the current Association Agreement; underlines that such a positive process must be based on and matched by tangible progress in Türkiye as regards CFSP alignment, democracy, the rule of law and respect for fundamental values;

    58.  Considers the joint communication of 29 November 2023 on the state of play of EU-Türkiye relations a good basis on which to move forward in the overall relations between the EU and Türkiye; regrets the lack of a clear political endorsement of this joint communication so far by the Council; reiterates that recognition of all EU Member States is a necessary component of any agreement between the EU and Türkiye; stresses that Türkiye’s constructive engagement, including in relation to the Cyprus problem, remains key to advancing closer cooperation between the EU and Türkiye;

    59.  Warns, nevertheless, that a further drift towards authoritarianism by the Turkish authorities, such as we have been witnessing recently, will ultimately have a severe impact on all dimensions of EU-Türkiye relations, including trade and security cooperation, as it prevents the trust and reliability needed between partners and antagonises both sides in the current geopolitical scene;

    60.  Continues to acknowledge and commend the democratic and pro-European aspirations of the majority of Turkish society (particularly among Turkish youth), whom the EU will not forsake; regards these aspirations as a major reason for keeping Türkiye’s accession process alive; calls therefore on the Commission to uphold and increase its political and financial support to the vibrant and pro-democratic civil society in Türkiye, whose efforts can contribute to generating the political will necessary for deepening EU-Türkiye relations; highlights, nevertheless, that the resumption of the accession process depends on the unwavering political will of Türkiye’s authorities and society to become a full-fledged democracy, which cannot be forced upon it by the EU;

    61.  Reiterates its call to strengthen and deepen mutual knowledge and understanding between our societies, promoting cultural growth, socio-cultural exchanges and combating all manifestations of social, religious, ethnic or cultural prejudice; encourages Türkiye and the EU to promote shared values, particularly by supporting young people; reiterates its utmost commitment to sustaining and increasing support for Türkiye’s independent civil society;

    o
    o   o

    62.  Instructs its President to forward this resolution to the President of the European Council, the Council and the Commission; asks that this resolution be translated into Turkish and forwarded to the President, Government and Parliament of the Republic of Türkiye.

    (1) OJ L 134, 7.5.2014, p. 3, ELI: http://data.europa.eu/eli/agree_internation/2014/252/oj.
    (2) OJ C, C/2024/1760, 22.3.2024, ELI: http://data.europa.eu/eli/C/2024/1760/oj.
    (3) OJ C 493, 27.12.2022, p. 2.
    (4) OJ C 425, 20.10.2021, p. 143.
    (5) OJ C, C/2024/6746, 26.11.2024, ELI: http://data.europa.eu/eli/C/2024/6746/oj.
    (6) OJ C 328, 6.9.2016, p. 2.
    (7) OJ C 465, 6.12.2022, p. 112.
    (8) OJ C, C/2025/206, 14.1.2025, ELI: http://data.europa.eu/eli/C/2025/206/oj.
    (9) Texts adopted, P10_TA(2025)0016.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Impact of Norwegian aquaculture on the development of EU aquaculture – E-000455/2025(ASW)

    Source: European Parliament

    1. Member States can offer support to EU aquaculture companies, including on productive investments or innovation under their European Maritime, Fisheries and Aquaculture Fund (EMFAF) programmes. EU aquaculture companies can also benefit from funding opportunities under other EU programmes[1].

    2. Strict controls ensure that imported food adheres to high EU standards for consumer protection and safety. The high standards on environmental sustainability applicable to EU aquaculture, as well as its capacity to provide food closer to the consumer, can provide EU aquaculture products a competitive edge over products from third countries. To this end, consumers need to be informed of the origin of aquaculture products, as well as the advantages of EU aquaculture production.

    The regulation on the common market Organisation in fishery and aquaculture products (CMO Regulation)[2] ensures that consumers receive clear mandatory information on the origin of aquaculture products. This allows consumers to differentiate between EU aquaculture products and imported ones. In the context of the evaluation of the CMO Regulation, the Commission will assess whether the existing labelling rules provide consumers with adequate information, and whether additional requirements are needed. Under the revised Fisheries Control Regulation[3], the control of the supply chain and traceability requirements of fishery and aquaculture products is enhanced, including imported products from third countries[4].

    The Commission has recently launched an EU-wide communication campaign on EU aquaculture, to increase EU citizens and consumer awareness on the benefits of EU aquaculture[5].

    • [1] See EU funding opportunities available for aquaculture: https://aquaculture.ec.europa.eu/system/files/2024-03/AAM_WP4_EU%20Funding%20Opportunities_Background%20Paper.pdf.
    • [2] https://eur-lex.europa.eu/eli/reg/2013/1379/oj/eng.
    • [3] https://eur-lex.europa.eu/eli/reg/2023/2842/oj/eng.
    • [4] Operators will be obliged to digitally record and transmit traceability data for fresh and frozen fisheries and aquaculture products by 10 January 2026. By 2029, this obligation will extend to prepared and preserved products.
    • [5] EU Aquaculture — We work for you with passion — European Union: https://eu-aquaculture.campaign.europa.eu/index_en.
    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – GGSC opinion on NGTs – shift of safety assessment and liability risks from biotech companies to the food industry – E-000920/2025(ASW)

    Source: European Parliament

    It is the responsibility of food business operators to verify if the food they intend to place on the EU market falls in the scope of the Novel Food Regulation[1]. Food obtained from Category c New Genomic Techniques (NGT) plants will fall under that regulation if it contains significant changes in the composition or structure of the food affecting its nutritional value, metabolism or level of undesirable substances as provided in its Article 3(2)(iv).

    The Commission’s proposal on plants obtained by certain NGTs contains transparency measures for Category c NGT plants: the foreseen public database will contain a description of the trait(s) and characteristics introduced or modified in a Category c NGT plant. This will support food business operators in the assessment of whether those traits give rise to the significant changes in the food that would qualify it as novel. It can be expected that food obtained from Category c NGT plants with such significant changes will be part of specialised supply chains as the purpose of developing such traits is to offer identifiable benefits to the consumer.

    The Commission does not have specific information on the costs of safety testing under the Novel Food Regulation. Such costs depend on the type of novel food and the necessary tests to prove its safety[2].

    The Commission estimated in its impact assessment[3] that of a total of 15 applications per year from the first year of operation of the regulation (two years after entry into force), 10 would be Category c NGT plants. It is not possible to predict how many of those would be intended for placing on the market as food and what proportion thereof would contain traits that would require an assessment of the food concerned under the Novel Food Regulation.

    • [1] http://data.europa.eu/eli/reg/2015/2283/oj.
    • [2] The European Food Safety Authority has adopted technical guidance to support applicants in this regard: https://www.efsa.europa.eu/en/efsajournal/pub/8961.
    • [3] SWD (2023)0412 final, Annex 3.
    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – GGSC opinion on NGTs – shift of safety assessment and liability risks from biotech companies to the food industry – E-000918/2025(ASW)

    Source: European Parliament

    Foods obtained from Category c new genomic techniques (NGTs) plants fall under the Novel Foods Regulation[1] if they feature significant changes in the composition or structure of the resulting food, affecting its nutritional value, metabolism or level of undesirable substances. Given that such foods offer identifiable benefits to the consumer, food business operators have a strong interest in bringing such food to the market with relevant labelling information that is part of an authorisation under the Novel Foods Regulation.

    It is the responsibility of food business operators to verify whether the food they intend to place on the EU market falls within the scope of the Novel Foods Regulation and complies with that regulation. The Official Controls Regulation[2] sets rules for the official controls performed to ensure compliance with food and feed law. These rules entrust national authorities with the responsibility to carry out controls at all stages of production, processing, distribution and use of food and feed, including to ensure that food business operators apply for the necessary novel food authorisation where necessary, amongst others as regards novel foods that may derive from Category c NGT plants.

    The Commission’s proposal on plants obtained by certain NGTs contains transparency measures for Category c NGT plants that would support food business operators in the assessment of whether the trait(s) and characteristics introduced or modified in a Category c NGT plant give rise to the significant changes in the food that would qualify it as novel. The Official Controls Regulation also provides the Commission with audit and control powers in the Member States and non-EU countries, enabling action at EU level when necessary.

    • [1] http://data.europa.eu/eli/reg/2015/2283/oj.
    • [2] https://eur-lex.europa.eu/eli/reg/2017/625/oj.
    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Socio-economic consequences of the new ‘EU ETS 2’ emissions-trading system – E-000578/2025(ASW)

    Source: European Parliament

    The Commission and the Member States are working towards the timely implementation of the new Emissions Trading System for buildings, road transport and additional sectors (ETS2), which was adopted by the European Parliament and the Council in 2023. This includes regular technical level discussions and exchanges at the political level with all Member States, including Poland.

    The Commission’s impact assessment[1] for the review of the ETS Directive provided a detailed analysis of the socioeconomic impact of ETS2. The impact assessment shows that the ETS2 effects on fuel prices are limited. Furthermore, ETS2 contains strong safeguard mechanisms to avoid prices rising very fast, including a safeguard to delay the start of the system to 2028 in case gas or oil prices are exceptionally high in 2026.

    Europe’s reliance on imported fossil fuels causes energy price volatility and higher supply costs, significantly impacting consumers’ energy bills. To reduce energy costs for consumers in the EU, we need to reduce energy consumption and accelerate the roll-out of renewable energy, which is an effective way to achieve decarbonisation. The Social Climate Fund (SCF), financed by ETS2, aims to ensure that vulnerable households and micro-enterprises will be supported in this transition. The purpose of the SCF is to turn ETS2 into a clearly progressive measure, and to spur green investments that will address the root causes of energy and transport poverty.

    • [1] SWD(2021)0601 final.
    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI: Alma íbúðafélag hf.: Útgáfa á nýjum skuldabréfaflokki – AL220535

    Source: GlobeNewswire (MIL-OSI)

    Alma íbúðafélag hf. hefur lokið sölu á skuldabréfum í nýjum skuldabréfaflokki, AL220535, sem gefinn er út undir útgáfuramma félagsins.

    Um er að ræða verðtryggðan skuldabréfaflokk með lokagjalddaga 22. maí 2035. Endurgreiðsla skuldabréfaflokksins fylgir 30 ára jafngreiðsluferli (annuity) fram til lokagjalddaga þegar allar eftirstöðvar höfuðstóls greiðast í einni greiðslu en greiðslur vaxta og höfuðstóls fara fram á sex mánaða fresti. Flokkurinn er veðtryggður samkvæmt almennu tryggingarfyrirkomulagi félagsins.

    Seld voru skuldabréf að nafnverði 1.000 m.kr. á ávöxtunarkröfunni 4,25%.

    Arctica Finance hf. hafði umsjón með sölu skuldabréfanna og töku þeirra til viðskipta.

    Greiðslu- og uppgjörsdagur er fimmtudagurinn 22. maí 2025.

    Nánari upplýsingar veitir:

    Ingólfur Árni Gunnarsson, framkvæmdastjóri, ingolfur@al.is.

    The MIL Network

  • MIL-OSI: Wrap Technologies, Inc. Plans to Hold a Conference Call to Discuss First Quarter 2025 Financial Results on Friday, May 16, 2025 at 9:15 a.m. ET

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, May 13, 2025 (GLOBE NEWSWIRE) — Wrap Technologies, Inc, (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global leader in innovative public safety technologies and non-lethal tools, today announces it plans to hold a conference call on Friday, May 16, 2025, at 9:15 a.m. Eastern Time (6:15 a.m. Pacific Time) to discuss its financial and operational results for the three months ended March 31, 2025.

    The financial and operational results are expected to be issued in a press release prior to the call.

    Wrap management will host the presentation, followed by a question-and-answer period.

    Interested parties may submit questions to the Company prior to the call at ir@wrap.com by 5:00 p.m. Eastern time on May 15, 2025. Questions will be addressed based on the relevance to the Company’s strategic direction and execution, stockholder base and public disclosure rules.

    Date: Friday, May 16, 2025
    Time: 9:15 a.m. Eastern Time (6:15 a.m. Pacific Time)
    Webcast Link: Click here to register

    The first quarter 2025 earnings press release with financial results and other related materials will be available on the “Investors” section of Wrap’s website at ir@wrap.com.

    About Wrap Technologies, Inc.
    Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

    Wrap’s BolaWrap® solution is a safer way to gain compliance—without pain. This innovative, patented device deploys light, sound, and a Kevlar® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.

    Wrap Reality™ VR is an advanced, fully immersive training simulator designed to enhance decision-making under pressure. As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.

    Wrap’s Intrensic solution is an advanced body-worn camera and evidence management system built for efficiency, security, and transparency. Designed to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.

    Trademark Information
    Wrap, the Wrap logo, BolaWrap®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

    Cautionary Note on Forward-Looking Statements – Safe Harbor Statement
    This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

    Investor Relations Contact:
    (800) 583-2652
    ir@wrap.com

    The MIL Network

  • MIL-OSI: Weatherford Announces a Strategic Agreement with Amazon Web Services to Accelerate Digital Transformation and Enhance Operational Efficiency

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 13, 2025 (GLOBE NEWSWIRE) — Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has signed an agreement with Amazon Web Services (“AWS”) that will transform Weatherford’s digital capabilities and help drive innovation in the energy sector.

    As part of this collaboration, Weatherford selected AWS as its preferred cloud provider and will migrate and modernize its cutting-edge software and hardware suite to AWS. This includes the Company’s Modern Edge Platform, which integrates advanced software-enabled hardware with Weatherford’s world-class control system, CygNet. The solution is modular and seamlessly integrates with existing infrastructure, allowing customers to modernize their operations with minimal disruption.

    With this agreement, AWS will also support the development of next-generation technologies, further enhancing Weatherford’s Unified Data Model. This solution allows customers to integrate, harmonize, and analyze multi-asset data within a scalable, API-compatible model, driving operational efficiency and enabling data-driven decision-making.

    Additionally, the collaboration will enhance the WFRD Software Launchpad, a platform that provides customers with access to Weatherford-built and Weatherford-partnered applications. The Launchpad ensures that customers retain control over their data while seamlessly managing multiple software solutions without being locked into a single application.

    Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “We are excited to work with AWS to deliver a comprehensive suite of innovative solutions that enable our customers to drive efficiency and innovation. This collaboration allows us to leverage AWS’s world-class cloud infrastructure to help our customers modernize their operations, reduce complexity, and achieve greater autonomy in their decision-making.”

    “AWS capabilities are accelerating Weatherford’s digital transformation and helping the company drive innovation in their digital solutions to meet customers’ needs,” said Howard Gefen, GM for Energy and Utilities at AWS. “This collaboration will enhance Weatherford’s ability to deliver its operational and petrotechnical solutions by leveraging scalable, hardware and software solutions that empower energy companies to optimize their operations and achieve sustainable growth in an increasingly complex landscape.”

    About Weatherford
    Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 18,000 team members representing more than 110 nationalities and 320 operating locations. Visit weatherford.com for more information and connect with us on social media.

    Contacts
    For Investors:
    Luke Lemoine
    Senior Vice President, Corporate Development & Investor Relations
    +1 713-836-7777
    investor.relations@weatherford.com

    For Media:
    Kelley Hughes
    Senior Director, Communications & Employee Engagement
    media@weatherford.com

    The MIL Network

  • MIL-OSI: Capstone Infrastructure Corporation Reports First Quarter Results and Declares a Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    Toronto, Ontario, May 13, 2025 (GLOBE NEWSWIRE) — Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the “Corporation” or “Capstone”) today announced and filed its financial results for the first quarter ended March 31, 2025. The Corporation’s Management’s Discussion and Analysis (“MD&A”) for the first quarter of 2025 and unaudited interim consolidated financial statements are available at www.capstoneinfrastructure.com and on SEDAR+ at www.sedarplus.ca. Capstone’s MD&A details the “Results of Operations” and provides a “Financial Position Review” for the quarter ended March 31, 2025.

    Dividend Declarations

    Today, the Board of Directors declared a quarterly dividend on the Corporation’s Cumulative Five-Year Rate Reset Preferred Shares, Series A (the “Preferred Shares”) of $0.2314 per Preferred Share to be paid on or about July 31, 2025 to shareholders of record at the close of business on July 15, 2025. The dividend on the Preferred Shares covers the period from April 30, 2025 to July 30, 2025.

    The dividends paid by the Corporation on its Preferred Shares are designated “eligible” dividends for the purposes of the Income Tax Act (Canada). An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.

    About Capstone Infrastructure Corporation

    Capstone is generating our low-carbon future, driving the energy transition forward through creative thinking, strong partnerships, and a commitment to quality and integrity in how we do business. A developer, owner, and operator of clean and renewable energy projects across North America, Capstone’s portfolio includes approximately 885 MW gross installed capacity across 35 facilities, including wind, solar, hydro, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.

    Caution Regarding Forward-Looking Statements

    Certain of the statements contained within this document are forward-looking and reflect management’s expectations regarding the future growth, results of operations, performance and business of the Corporation based on information currently available to the Corporation. Forward-looking statements are provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements use forward-looking words, such as “anticipate”, “continue”, “could”, “expect”, “may”, “will”, “intend”, “estimate”, “plan”, “believe” or other similar words. These statements are subject to known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results. The forward-looking statements within this document are based on information currently available and what the Corporation currently believes are reasonable assumptions, including the material assumptions set out in the management’s discussion and analysis of the results of operations and the financial condition of the Corporation (“MD&A”) for the year ended December 31, 2024, as updated in subsequently filed MD&A of the Corporation (such documents are available under the Corporation’s SEDAR+ profile at www.sedarplus.ca).

    Although the Corporation believes that it has a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements due to inherent risks and uncertainties. For a comprehensive description of these risk factors, please refer to the “Risk Factors” section of the Corporation’s Annual Information Form dated March 21, 2025, as supplemented by disclosure of risk factors contained in any subsequent annual information form, material change reports (except confidential material change reports), business acquisition reports, interim financial statements, interim management’s discussion and analysis and information circulars filed by the Corporation with the securities commissions or similar authorities in Canada (which are available under the Corporation’s SEDAR+ profile at www.sedarplus.ca).

    The assumptions, risks and uncertainties described above are not exhaustive and other events and risk factors could cause actual results to differ materially from the results and events discussed in the forward-looking statements. The forward-looking statements within this document reflect current expectations of the Corporation as at the date of this document and speak only as at the date of this document. Except as may be required by applicable law, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

    Attachment

    The MIL Network

  • MIL-Evening Report: From GPS to weather forecasts: the hidden ways Australia relies on foreign satellites

    Source: The Conversation (Au and NZ) – By Cassandra Steer, Chair, Australian Centre for Space Governance, Australian National University

    Japan Meteorological Agency via Wikimedia

    You have probably used space at least 20 times today. Satellites let you buy a coffee with your phone, book a rideshare, navigate your way to meet someone, and check the weather.

    Satellites are also essential for monitoring floods, cyclones and bushfires, and supporting the people they affect. Farmers depend on satellite data, too, as does everyone trying to understand and tackle climate change, not to mention our military.

    Yet Australia’s access to space services depends almost entirely on satellites owned and run by foreign governments and companies. In an increasingly uncertain world, having our own sovereign space technology is becoming even more important for security.

    But what exactly do we need to secure? And how can space help us do it? My colleagues and I at the Australian Centre for Space Governance have thought through these questions and presented them in a policy paper series – and we have some recommendations for the government.

    Space services are essential

    Since 2022, the Australian government has considered space technology to be “critical infrastructure”. In other words, if the space-based services we use were destroyed or disrupted, it “would have a debilitating impact on Australia’s defence and national security, a destabilising effect on the population, and cause significant damage to the economy”.

    However, Australia is entirely dependent on foreign partners for space-based services such as communications and Earth observation.

    Another crucial kind of satellite-powered service is “position, navigation and timing” – things like GPS, which is owned and operated by the US government. Even a temporary loss of these services could pose significant risks to Australia’s telecommunications and energy systems, as well as disaster response.

    According to Australia’s 2024 National Defence Strategy, space capabilities are “equally as important as the maritime, land and air domains”. But we are in many respects simply users of space infrastructure that belongs to partner countries for our military needs. There are opportunities to increase our role in these partnerships if we place more emphasis on how Australia can be a contributor.

    An uncertain world

    Almost all the satellite data that supports our agriculture, banking, transport, climate monitoring, bushfire and flood response – and connects rural, remote and regional Australians – comes from the US, Europe and Japan. This dependency poses significant risks.

    If any of those countries have to prioritise their own national needs in a natural disaster – such as the Sea of Japan earthquake in January last year – we might lose access. Even temporary loss of service can be disruptive, such as the temporary outage in 2023 of a UK satellite that impacted farmers in Australia and New Zealand.

    The same might happen if any of those countries stopped providing data for political or national security reasons.

    These risks are only increasing as our dependency on satellite services grows, and our relationship with the United States may become less certain.

    What do we want from space?

    Many of Australia’s international partners are also questioning their dependence on the US, and prioritising their domestic needs. Many have national space policies, or at least a clear idea of what sovereign space capabilities they want to invest in. This is what Australia needs, too.

    Greater cooperation on new space technologies could help our shared interests with our neighbours. Obvious areas include regional security, climate response, supporting agriculture, and internet connectivity needs.

    One obstacle, as we discovered when we ran a national public opinion survey last year, is that Australia doesn’t have a clear vision of what it wants from space.

    In government, too, there is little shared understanding of how satellites and related infrastructure feed in to our national priorities and needs.

    At present, thinking about space is usually the domain of specialists in government. But a better option would be “mainstreaming” space – making it part of the everyday, business-as-usual thinking of policymakers across government.

    Sovereign satellites

    Our country already excels at what’s called the “ground segment” for space – things like satellite dishes and data management. One example is the satellite dish operated by Geoscience Australia in Alice Springs, on land leased from the Indigenous-owned business, the Centre for Appropriate Technology. But we don’t have any sovereign satellites.

    In 2023, the government scrapped a billion-dollar project including four Earth-observation satellites, citing budget constraints. In 2024, a planned military-grade satellite communications system worth $7 billion was also cancelled due to lack of cash.

    But in 2025, it’s a new term of government. New minister for industry and science Tim Ayres may revisit these decisions. It certainly aligns with his support for a “Future Made in Australia”.

    This time around, the space industry and researchers will need to do a better job at communicating why satellites matter so much to our national well-being and security.

    Cassandra Steer has received funding in the past from the Department of Defence, Department of Foreign Affairs and Trade, Geoscience Australia and Home Affairs. She is Chair and founder of the Australian Centre for Space Governance.

    ref. From GPS to weather forecasts: the hidden ways Australia relies on foreign satellites – https://theconversation.com/from-gps-to-weather-forecasts-the-hidden-ways-australia-relies-on-foreign-satellites-256440

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: ICYMI: CONGRESSIONAL REPUBLICANS AND PRESIDENT TRUMP UNVEIL THEIR PLAN TO TRADE AWAY AMERICANS’ HEALTH COVERAGE FOR TAX CUT FOR THE WEALTHY

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

    TAMPA, FL — Before heading back to Washington, D.C., where her Republican Energy and Commerce colleagues plan to rip health care away from millions of Americans and make life more expensive for everyone to fund tax breaks for the wealthy, Castor stood with local health care advocates to demand that Republicans keep their hands off our health coverage, which is life or death for many Floridians. 

    “Millions of families rely on Medicaid for their health care. I am thinking of your grandparents, who are not on the street, because Medicaid is helping them live in an assisted living facility. I am thinking about pregnant mothers who use Medicaid to ensure they have healthy births. I am thinking about children who have complex medical conditions who literally need Medicaid to survive,” said Rep. Castor.

    This is not just a debate in Washington, D.C., this is a debate that will impact whether certain people will be able to live. Medicaid has always ensured that no matter where you stand in life, you never have to suffer. For the grace of God, this could be you, and you will need to think about whether your child can have a decent quality of life, or if you can afford the doctor or medications you need to stay alive.”

    In Florida, 3.9 million people rely on Medicaid. Over 4.7 million Floridians rely on the Affordable Care Act, which Republicans want to make more expensive. The independent Congressional Budget Office (CBO) determines that at least 13.7 million more Americans will go uninsured on Trump and Congressional Republicans’ watch.  The massive financial pain will hurt all Floridians, all Americans.

    New analysis from the nonpartisan CBO found the health provisions in the Energy and Commerce Committee Republicans’ bill will cut at least $715 billion and will result in at least 8.6 million more Americans going uninsured as a result of cuts to Medicaid and the Affordable Care Act. The analysis was completed at the request of Democratic Committee leaders. 

    In additional analysis, CBO determined that 5.1 million more Americans will go uninsured as a result of Republicans refusing to extend the Affordable Care Act tax credits.

    Castor continued, “Let’s stick with our all-American values. We don’t need to gut health care so billionaires like Elon Musk can buy another private jet. Let’s take care of our neighbors.”

    Castor was joined by CEO and President of Tampa Family Health Centers, Sherry Hoback, CEO and President of Foundation for a Healthy St. Pete, Dr. Kanika Tomalin and CEO and President of Evara Health, Elodie Dorso.

    Photos from the event are available here.

    Watch the press conference here.

    MIL OSI USA News

  • MIL-OSI New Zealand: Proposed changes to the Code of Welfare for Sheep and Beef Cattle

    Source: police-emblem-97

    Have your say

    The National Animal Welfare Advisory Committee (NAWAC) is consulting on proposed changes to how sheep and beef cattle are farmed in New Zealand.

    NAWAC has reviewed the existing code of welfare for sheep and beef cattle and wants your feedback. The committee is proposing several updates to minimum standards and recommendations for best practice.

    You can make a submission between 14 May and 15 July 2025.

    Consultation documents

    Proposed changes to the Code of Welfare: Sheep and Beef Cattle [PDF, 750 KB]

    Related documents and information

    NAWAC Code of Welfare for Sheep and Beef Cattle [PDF, 810 KB]

    NAWAC Code of Welfare Evaluation Report [PDF, 1.2 MB]

    What’s being proposed?

    Proposed changes to the code include:

    • incorporating dairy sheep into the code
    • amended behavioural provisions for sheep and beef cattle
    • new minimum standards for animals in off-paddock facilities and feedlots.

    NAWAC is also proposing a regulation to prohibit the use of electro-immobilisation devices.

    Making your submission

    Email your feedback on the draft code by 5pm on 15 July 2025 to animal.consult@mpi.govt.nz

    You can also use our online survey to make a submission.

    Online submission form for the sheep and beef cattle code of welfare

    While we prefer email, you can post written submissions to:

    Code of Welfare for Sheep and Beef Cattle Submission
    Ministry for Primary Industries
    PO Box 2526
    Wellington 6140
    New Zealand.

    What to include

    Make sure you tell us in your submission:

    • the title of the consultation document
    • your name and title
    • your organisation’s name (if you are submitting on behalf of an organisation, and whether your submission represents the whole organisation or a section of it)
    • your contact details (such as phone number, address, and email).

    Additionally, state in your submission which of these groups you best associate with:

    • primary sector organisation
    • farming
    • member of the public
    • animal advocacy organisation
    • transport or livestock company
    • animal health professional
    • research institute
    • other – please specify.

    Submissions are public information

    Note that all, part, or a summary of your submission may be published on this website. Most often this happens when we issue a document that reviews the submissions received.

    People can also ask for copies of submissions under the Official Information Act 1982 (OIA). The OIA says we must make the content of submissions available unless we have good reason for withholding it. Those reasons are detailed in sections 6 and 9 of the OIA.

    If you think there are grounds to withhold specific information from publication, make this clear in your submission or contact us. Reasons may include that it discloses commercially sensitive or personal information. However, any decision MPI makes to withhold details can be reviewed by the Ombudsman, who may direct us to release it.

    Official Information Act 1982 – NZ Legislation

    MIL OSI New Zealand News

  • MIL-OSI USA: PHOTO: Cornyn Meets with UT San Antonio President

    US Senate News:

    Source: United States Senator for Texas John Cornyn
    WASHINGTON – U.S. Senator John Cornyn (R-TX) met yesterday with University of Texas at San Antonio (UTSA) President Taylor Eighmy and other system leaders to discuss their leading academic programs, merger with UT Health Science Center at San Antonio, and their research efforts in hypersonics. See photo below.

    This image is in the public domain, but those wishing to do so may credit the Office of U.S. Senator John Cornyn.
    Senator John Cornyn, a Republican from Texas, is a member of the Senate Finance, Judiciary, Intelligence, Foreign Relations, and Budget Committees.

    MIL OSI USA News

  • MIL-OSI USA: PHOTO: Cornyn Meets with National Border Patrol Council

    US Senate News:

    Source: United States Senator for Texas John Cornyn
    WASHINGTON – U.S. Senator John Cornyn (R-TX) met yesterday with National Border Patrol Council board members to discuss improving infrastructure, updating technology, and increasing personnel along our southern border to give them the resources needed to do their job. Thanks to Border Patrol’s work and President Trump’s historic efforts to secure the border and enforce the laws on the books, southern border apprehensions are down nearly 95% from one year ago. See photo below.

    This image is in the public domain, but those wishing to do so may credit the Office of U.S. Senator John Cornyn.
    Senator John Cornyn, a Republican from Texas, is a member of the Senate Finance, Judiciary, Intelligence, Foreign Relations, and Budget Committees.

    MIL OSI USA News

  • MIL-OSI USA: Acting Chairman Pham Statement on Court Sanctions Against CFTC

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — Commodity Futures Trading Commission Acting Chairman Caroline D. Pham made the following statement regarding the Federal District Court report and recommendations for sanctions against the CFTC for misconduct in CFTC v. Traders Global Group Inc:
    “Americans rightly demand the highest level of conduct, candor, professionalism, and ethics from the federal government—especially law enforcement agencies like the CFTC. As described in detail in the Court’s report, the CFTC engaged in willful and bad faith conduct by making multiple false statements to the Court and other ‘numerous instances of sanctionable behavior’ over the course of a year. This is inexcusable. The CFTC must now accept accountability so that appropriate corrective action can finally be taken to address the conduct issues, and the CFTC can put this behind us and move forward to restore the agency’s credibility and reputation.
    “This case is a wakeup call to those of us who hold and serve the public’s trust. The conduct by CFTC staff and especially CFTC management in this case led to failures that were foreseeable, which means they were also avoidable. I first raised numerous concerns about CFTC conduct in this case nearly two years ago—even before the complaint was filed, and again during the litigation when I reviewed CFTC emails evidencing management efforts to conceal the false statements from the Court. The CFTC not only disregarded my serious concerns and an oversight letter from a member of Congress, but also engaged in a malicious campaign of retaliation and defamation designed to impugn my character and integrity. It is vindicating that the Court cites my prior statements that raised concerns in this case and my efforts to ensure accountability.
    “While the Court’s findings have shined a bright light on the CFTC’s widespread violations of both the duty of candor to the Court and applicable rules of attorney professional conduct, these types of failures are rarely an isolated incident and point to a broader breakdown in the culture of the Division of Enforcement. This case clearly shows that the Division has for far too long maintained a culture that the CFTC is above the law and that breaking the rules is justified because the CFTC is a government agency. This culture is a slippery slope that turns good intentions into bad actions and normalizes wrongdoing.
    “Worse, this culture has predictably led to the abuse of the government’s prosecutorial power and the violation of a defendant’s Constitutional right to due process. I have discovered that for years, many highly respected leaders of the legal profession and former government attorneys have repeatedly raised red flags about CFTC staff conduct in enforcement actions—even before I raised concerns as a Commissioner. It is therefore unsurprising that the Court finds that ‘[w]ithout the imposition of sanctions, [the CFTC’s] conduct appears likely to repeat itself.’
    “Since I became Acting Chairman, I’ve wasted no time in fixing these issues. We’ve reorganized the CFTC’s Division of Enforcement, ensuring cases are appropriately assigned based on staff experience and expertise. We’ve established transparent, public guidelines to encourage greater self-reporting and cooperation in enforcement actions and launched an initiative to reduce a backlog of noncompliance matters, redirecting resources to more serious fraud and manipulation cases. We’ve adopted a Justice Department policy aimed at ending regulation by prosecution, and took steps to improve communication and referral procedures between the Division of Enforcement and the CFTC’s other operating divisions. 
    “I also want to commend our new Director of Enforcement, Brian Young, for taking immediate and proactive steps to promote an ethical culture and enhance continuing education and training opportunities for our enforcement staff to make sure this conduct never happens again, and the CFTC adheres to the highest standards.
    “We are now closing this chapter so we can focus on the future. The CFTC is made up of hundreds of dedicated and talented public servants who routinely demonstrate our value to our markets and American taxpayers. This case does not reflect the CFTC’s people, our values, or our critical mission. Trust is earned, and the CFTC remains committed to delivering for the American people.  As an agency, we will take the lessons learned from this case and be better for it.”
    The Court’s report finds that the CFTC’s conduct and internal communications “. . . implicate involvement of both the CFTC line attorneys and the highest levels of management in the CFTC’s Division of Enforcement.” The Court’s report also finds, “The CFTC, as one of the primary prudential regulators in the United States, has an obligation to discharge all of its obligations—statutory, regulatory, and ethical—faithfully. It also unquestionably has a duty of candor to the Court. However, at almost every stage in this case, the CFTC failed in this regard.” While some CFTC staff were removed from the case in 2024 following the filing of the sanctions motion, the CFTC has taken necessary measures to ensure accountability at all levels, including placing staff on administrative leave pending further investigation.
    Proactive CFTC Remediation and Reform Efforts
    Since being elevated to Acting Chairman in January, Pham has proactively led efforts to overhaul the CFTC’s Division of Enforcement and reform culture and conduct, develop staff, and leverage expertise and reduce siloing. The establishment of a new task force model allows CFTC attorneys to specialize in categories of cases, thereby enhancing relevant knowledge, practices and mentoring opportunities, and reducing the risk of legal or ethical lapses. 
    The Division of Enforcement has also launched a Basic Trial Advocacy Skills training series, with sessions ranging from opening, closing and direct examinations, interactions with jury and opposing counsel, and techniques to avoid creating misimpressions, with more sessions being planned. The sessions offer practical instruction on investigations and litigation as well as opportunities to discuss ethical and discovery dilemmas that can occur in real life litigation scenarios. 
    The Division of Enforcement also delivered various ethics training, including ensuring candor and openness in engagement with defense counsel. It also hosted a training on the American Bar Association’s Model Rules of Professional Conduct as applied to government attorneys, with additional trainings being planned. 

    MIL OSI USA News