Category: Canada

  • MIL-OSI: Bitfarms Announces Participation in Upcoming Investor and Industry Conferences

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Ontario, March 04, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, today announced its participation in three upcoming investor and industry conferences.

    Investor Event Details:

    Event: Cantor Fitzgerald Global Technology Conference
    Date: March 12, 2025
    Location: New York, NY
    Bitfarms Participants: Ben Gagnon (CEO), Jeff Lucas (CFO), Tracy Krumme (SVP, IR & Comms)
    Panel Time: 3:40pm-4:05pm ET
    Panel Title: “Hybrid Model for Bitcoin Mining & AI”; CEO Ben Gagnon to participate

    Event: 37th Annual ROTH Conference
    Date: March 17-18, 2025
    Location: Dana Point, CA
    Bitfarms Participants: Liam Wilson (COO), Jeff Lucas (CFO), Tracy Krumme (SVP, IR & Comms)

    Industry Event Details:

    Event: NVIDIA GTC 2025
    Date: March 17-21, 2025
    Location: San Jose, CA
    Bitfarms Participants: Liam Wilson (COO), Philippe Fortier (EVP, Corporate Development), Alex Brammer (SVP, Mining Operations), Craig Hibbard (SVP, Infrastructure)

    For additional information or to schedule 1×1 meetings at any of the above conferences, please reach out to investors@bitfarms.com.

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that sells its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers.

    Bitfarms currently has 13 operating Bitcoin data centers, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://twitter.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Investor Relations Contact:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contact: 

    Bitfarms
    Caroline Brady Baker 
    Director, Communications
    cbaker@bitfarms.com 

    The MIL Network

  • MIL-OSI: Next Hydrogen receives its ISO 9001 and ISO 45001 certifications

    Source: GlobeNewswire (MIL-OSI)

    MISSISSAUGA, Ontario, March 04, 2025 (GLOBE NEWSWIRE) — Next Hydrogen Solutions Inc. (“Next Hydrogen“ or the “Company”) (TSXV:NXHOTC:NXHSF) is pleased to announce that it has received official ISO 9001-2015 and ISO 45001-2018 certification notices for its 6610 Edwards Blvd site in Mississauga, Canada. These certifications demonstrate and certify Next Hydrogen’s standardized quality systems, health and safety management systems, supplier selection processes, and continuous improvement processes.

    With these certifications Next Hydrogen has demonstrated that we have a robust operating system that can be scaled quickly to effectively support our growing customer base. Team Next Hydrogen is poised to exceed our customers’ expectations and become the supplier of choice for green hydrogen electrolysis systems. In 2024, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) provided a $2 million investment to Next Hydrogen which was critical in allowing Next Hydrogen to further enhance its quality standards and processes to help secure these certifications.

    “These important certifications highlight our team’s continued commitment and dedication to build our brand steeped in innovation, quality, safety and reliability”, said Raveel Afzaal, President & CEO. “We are particularly grateful to FedDev Ontario for their financial support to achieve this critical milestone as part of our scale-up activities.”

    “Congratulations to Next Hydrogen on this impressive milestone. Investments in clean technology companies, like Next Hydrogen, bolster Canada’s position as a global leader in green manufacturing and support our carbon reduction objectives,” said the Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario.

    About Next Hydrogen Solutions Inc.
    Founded in 2007, Next Hydrogen Solutions Inc. is a designer and manufacturer of water electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as a green energy source or a green industrial feedstock. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors. For further information: www.nexthydrogen.com

    About FedDev Ontario
    For 15 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our investment profiles, our Southern Ontario Spotlight, and FedDev Ontario’s X, Facebook, Instagram and LinkedIn.

    Cautionary Statements
    This news release contains “forward-looking information” and “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risks associated with the hydrogen industry in general; delays or changes in plans with respect to infrastructure development or capital expenditures; the uncertainty of estimates and projections relating to costs and expenses; failure to obtain necessary regulatory approvals; health, safety and environmental risks; uncertainties resulting from potential delays or changes in plans with respect to infrastructure developments or capital expenditures; currency exchange rate fluctuations; as well as general economic conditions, stock market volatility; and the ability to access sufficient capital. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, there will be no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

    The MIL Network

  • MIL-OSI: Aviva Canada: New data shows staggering rise in fraud across the country as Fraud Prevention Month kicks off

    Source: GlobeNewswire (MIL-OSI)

    • Aviva Canada data reveals a 76% rise in claim fraud investigations in 2024.
    • Auto-related incidents accounted for 67% of all claim fraud investigations during the past year.
    • Bad actors are capitalizing on Artificial Intelligence (AI) and technology for their malicious activities and Canadians are urged to keep vigilant.

    TORONTO, March 04, 2025 (GLOBE NEWSWIRE) — From auto theft to AI-generated documents and beyond, fraud continues to be one of the more pressing issues facing Canadian consumers and businesses in 2025.

    As Fraud Prevention Month kicks off, new data from Aviva Canada has revealed a 46% increase in claim fraud detection – and a staggering 76% rise in fraud investigations – in 2024. Auto-related incidents alone accounted for two-thirds (67%) of all claim fraud investigations during the past year. Advancements in AI and its use by individuals to falsify information are expected to be on the rise in 2025.

    “People are getting more sophisticated and innovative in their approaches when engaging in potentially fraudulent activity, making it increasingly difficult for the average Canadian to spot,” says Jamie Lee, Head of Financial Crime and Fraud, Aviva Canada. “Insurance fraud costs Canadians $1 billion per year in added premiums. It’s vital for Canadians to stay educated on the rising trends to better protect themselves.”

    Five Emerging Fraud Trends to Watch in 2025
    The methods used by bad actors are constantly evolving, so it’s important for Canadians to stay current on emerging trends. Aviva Canada’s data shows five types of fraud that are growing in the Canadian market:

    • Vehicle Theft and ReVINing – Vehicle thefts remain above pre-pandemic levels, with a 58% increase in investigations in the latter half of 2024. Stolen vehicles are often shipped overseas, or their VIN numbers altered and resold to unsuspecting Canadian buyers with false documentation. With the tightening of Canada-US borders, more stolen vehicles could remain in Canada, increasing the likelihood of Canadians buying a stolen vehicle from online public marketplaces.
    • Staged Auto Accidents – Increasing in numbers and complexity, staging false auto accidents is a trend on the rise across Canada. Aviva Canada saw a 47% increase in the number of staged accidents caught in Q4 2024. This type of scam could be linked to organized crime groups operating in Canada.
    • AI-Enabled Falsified or Forged Documents – The use of technology AI to edit or falsify documents is increasingly evident in investigations. This technology is frequently seen in both staged claims and opportunistic fraud, where it is used to create false claims or inflate legitimate claims, such as personal and commercial property contents claims, by supporting them with false invoices.
    • Ghost Brokers – People posing as licensed insurance brokers to sell fake policies or manipulate information to secure lower premiums is a growing concern in Canada, often leaving unsuspecting consumers without valid coverage. Consumers should be extra vigilant when purchasing insurance. They are encouraged to check their provincial registries to ensure the person they’re dealing with is properly licensed and confirm proof of insurance directly with the insurer.
    • Policy Misrepresentation – Individuals may misrepresent or omit key information from their insurance policies such as their true address, the intended use of a vehicle or property, or not disclosing major construction or renovations being done. These incidents can unfortunately lead to honest customers paying disproportionately higher premiums.

    “Fraud impacts Canadians not only financially, but also mentally and emotionally,” adds Lee. “Fraud costs everyone and drives up insurance premiums. At Aviva Canada, we are continuing to work with law enforcement and industry stakeholders to better protect Canadians from fraud.”

    For tips and more information on how to protect yourself or to report fraud, you can visit Aviva Canada’s Fraud Hub.

    Media Contact:
    Kelsie Ludlow
    Communications Specialist
    Tel: 437-331-7209
    Email: Kelsie.ludlow@aviva.com

    About Aviva Canada

    Aviva Canada is one of the leading property and casualty insurance groups in the country, providing home, automobile, lifestyle, and business insurance to 2.5 million customers coast to coast. A subsidiary of UK-based Aviva plc, we have the financial strength, scale and are a trusted insurance provider globally for more than 325 years.

    For more information, visit aviva.ca or Aviva Canada’s blogLinkedIn and Instagram pages.

    The MIL Network

  • MIL-OSI: Churchill Discovers Vanadium-Titanium-Iron Mineralization at the Taylor Brook Nickel Project, Newfoundland & Labrador

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 04, 2025 (GLOBE NEWSWIRE) — Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to provide an update on its Taylor Brook nickel project where 2024 drilling and prospecting have returned anomalous Vanadium-Titanium-Magnetite (“VTM”) results at the TB-01 to TB-04 chargeability targets. These targets only cover a small area explored thus far on the margin of the large South Lobe of the Taylor Brook Gabbro Complex (“TBGC”), but suggest it to be a layered intrusion with critical minerals potential, in addition to the property’s high-grade magmatic Ni-Cu-Co mineralization seen at Layden (See news releases February 13, 2023, October 26, 2023).

    Mineralized magnetite-layered units sampled thus far at the South Lobe are generally several metres thick and gently dipping northeasterly, from which numerous 2024 samples returned anomalous values of 540ppm-955ppm V, 3.1%-7.29% Ti and >20% Fe with Ni, Cu and Co enrichment at several sites at the TB-01 Target (Fig. 1 and Table 1).   Winter Borehole Induced Polarization (“BHIP”) surveys at TB-01 have generated high chargeability off-hole targets in this same area, which will be drill tested along with a systematic trenching program.

    Highlights:

    • Taylor Brook Gabbro a layered intrusion with economic potential for VTM critical metals
    • Numerous enriched VTM layers outcrop at the South Lobe allowing systematic surface testing
    • Ni-Cu-Co sulphides found at/near surface at TB-01, also enriched in VTM mineralization
    • BHIP defines large, high chargeability targets near holes TB-24-42B and TB-24-43 at TB-01
    • Spring 2025 work plans include systematic trenching and more drilling at TB-01, and
    • Further exploration for both Ni-Cu-Co magmatic sulphides and VTM mineralization along strike from TB-01 and the ~10km2 magnetic/gravity anomaly at the South Lobe

    Paul Sobie, CEO, commented:

    “The anomalous VTM results we’re starting to see at TB-01 to 04, along with the associated shallow Ni-Cu-Co trends, are compelling, and systematic follow-up work will commence as soon as the snow cover melts. We prioritized this area based on anomalous Ni-Cu-Co in soils, and have drilled and prospected on surface the probable source layer within the TBGC, which is also anomalous in VTM’s, a good indication of layered intrusion-type mineral deposits. We’ve really only begun to evaluate a small portion of the overall approximately 10km2 magnetic / vanadium soil anomaly VTM target on the South Lobe and its margins, so our 2024 results are encouraging.

    VTM’s are important strategic metals for the steel, aerospace and battery industries for vanadium, and the pigment, steel and medical industries for titanium. North America has no vanadium production, with China, Russia, South Africa and Brazil the major producers, world-wide, from large layered intrusions such as the Bushveld Complex (South Africa). Layered intrusive mineral deposits typically exhibit layered VTM mineralization in the upper portions, with PGE and chromite deposits somewhat deeper, and Ni-Cu-Co-PGE deposits lowest, in the more ultramafic portion of the intrusion. The VTM mineralization intersected and prospected at surface at the TBGC therefore would appear to be at its upper levels, with exploration just getting started on the South Lobe.

    Figure 1 – Vanadium in rocks, soils and drill cores over South Lobe TMI with VTEM anomalies

    Systematic prospecting, mapping and trenching at the South Lobe, as well as more drilling at TB-01 are being planned. New exploration permit applications are being prepared for submittal. We’re quite excited by the BHIP method and results, which has located the highest chargeability targets within the TB-01 anomaly, off-hole but not distal from our 2024 drillholes. We’ll drill test these in 2025.”

    The South Lobe has been of particular interest to CRI since staking it in 2021 based on its intense magnetic signature and coincident gravity anomaly, more particularly now as it is returning anomalous vanadium and titanium soil survey and prospecting results per Figure 1. The South Lobe magnetic feature is predominantly a topographic high with good exposures of layering along its margins, where the VTM horizons are commonly resistive, outcropping or forming scarps. Presently less that 10% of the South Lobe has been prospected, therefore the Company is planning a comprehensive prospecting, mapping, and trenching/stripping program for the Spring. The TB-01 horizon(s) are laterally extensive based on airborne geophysics and soil sampling and will be followed up along strike in Spring 2025. As well, the Company’s exploration team will comprehensively sample holes TB-24-41, -42B and -43 for VTM mineralization and PGEs in order to test for potential deeper horizons of mineralization.

    Petrographic, lithogeochemical, and mineral liberation studies on mineralized samples are pending, which will assist in assessing the economic potential of these VTM units.

    Table 1 – Selected 2024 Assay and Lithogeochemical Samples Metal Analytical Results

    BHIP surveys at the TB-01 target were successful and have confirmed that off-hole chargeability anomalies correlate well with layers of VTM mineralization including a near-surface horizon also enriched in Ni-Cu-Co (see inset map on Figure 1). Hole TB-24-41 was blocked at 100m depth so the entire hole could not be surveyed, but the BHIP did detect the near-surface Ni-Cu-Co-VTM horizon (the Ni-Cu-Co trend on the figures) observed in the core as well as in numerous nearby angular boulders.

    The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C Wilton, P.Geo., FGC, who is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Wilton is an honourary research professor of Economic Geology at Memorial University in St. John’s and is independent of the Company for the purposes of NI 43-101.

    The lithogeochemical samples reported here were whole rock pieces, collected from outcrop and historical drill core by Dr. Wilton during fieldwork in September/October 2024. These samples were sealed in labelled plastic bags in the field. All sample bags were photographed and transported to Thunder Bay, ON, by secure courier. The samples were analysed by ALS Geochemistry Ltd. in Thunder Bay using ME-ICP06 whole rock and ME-MS61L analytical protocols. Samples with over limit Ni contents were re-assayed using OG-46 Aqua-Regia overlimit method. Quality control results, including the laboratory’s own control samples, were evaluated immediately.

    The assay drill core and rock samples were placed in labelled, sealed plastic bags and delivered to Eastern Analytical of Springdale, NL, an ISO/IEC 17025 certified facility. The samples were analysed using ICP 34 (inductively coupled plasma) analytical protocols. Samples with over limit Ni and Fe contents were re-assayed using Eastern’s Ore Grade Assay (multi acid digestion) overlimit method. Quality control results, including the laboratory’s control samples, were evaluated immediately. 1

    1The Company reminds investors that surface rock samples are select samples and may not be representative of all mineralization on the Taylor Brook property.

    About Churchill Resources Inc.

    Churchill Resources Inc. is a Canadian exploration company focused on high grade, magmatic nickel sulphides in Canada, principally at its prospective Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board and its advisors have decades of combined management experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill’s Taylor Brook and Florence Lake projects have the potential to benefit from the province’s large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.

    Further Information

    For further information regarding Churchill, please contact:

    Churchill Resources Inc.   
    Paul Sobie, Chief Executive Officer   
    Tel. +1 416.365.0930 (o)  
      +1 647.988.0930 (m)  
    Email psobie@churchillresources.com  
         
    Alec Rowlands, Corporate Consultant   
    Tel. +1 416.721.4732 (m)  
    Email arowlands@churchillresources.com  
         

    Cautionary Note Regarding Forward Looking Information

    This news release contains “forward-looking information” and “forward-looking statements” (collectively, forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, , the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; interpretation of recent exploration results; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

    These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f88f1c38-2fc8-4687-b536-67baa68ec31e

    https://www.globenewswire.com/NewsRoom/AttachmentNg/0d18ace1-d149-45eb-b87f-bf7a1d931b09

    The MIL Network

  • MIL-Evening Report: ‘Back off AUKUS’, Greens MP Tuiono warns NZ in wake of Trump row

    Asia Pacific Report

    The Green Party has called on Prime Minister Christopher Luxon to rule out Aotearoa New Zealand joining the AUKUS military technical pact in any capacity following the row over Ukraine in the White House over the weekend.

    President Donald Trump’s “appalling treatment” of his Ukrainian counterpart Volodymyr Zelenskyy was a “clear warning that we must avoid AUKUS at all costs”, said Green Party foreign affairs and Pacific issues spokesperson Teanau Tuiono.

    “Aotearoa must stand on an independent and principled approach to foreign affairs and use that as a platform to promote peace.”

    US President Donald Trump has paused all military aid for Ukraine after the “disastrous” Oval Office meeting with President Zelenskyy in another unpopular foreign affairs move that has been widely condemned by European leaders.

    Oleksandr Merezhko, the chair of Ukraine’s Parliamentary Foreign Affairs Committee, declared that Trump appeared to be trying to push Kyiv to capitulate on Russia’s terms.

    He was quoted as saying that the aid pause was worse than the 1938 Munich Agreement that allowed Nazi Germany to annex part of Czechoslovakia.

    ‘Danger of Trump leadership’
    Tuiono, who is the Green Party’s first tagata moana MP, said: “What we saw in the White House at the weekend laid bare the volatility and danger of the Trump leadership — nothing good can come from deepening our links to this administration.

    “Christopher Luxon should read the room and rule out joining any part of the AUKUS framework.”

    Tuiono said New Zealand should steer clear of AUKUS regardless of who was in the White House “but Trump’s transactional and hyper-aggressive foreign policy makes the case to stay out stronger than ever”.

    “Our country must not join a campaign that is escalating tensions in the Pacific and talking up the prospects of a war which the people of our region firmly oppose.

    “Advocating for, and working towards, peaceful solutions to the world’s conflicts must be an absolute priority for our country,” Tuiono said.

    Five Eyes network ‘out of control’
    Meanwhile, in the 1News weekly television current affairs programme Q&A, former Prime Minister Helen Clark challenged New Zealand’s continued involvement in the Five Eyes intelligence network, describing it as “out of control”.

    Her comments reflected growing concern by traditional allies and partners of the US over President Trump’s handling of long-standing relationships.

    Clark said the Five Eyes had strayed beyond its original brief of being merely a coordinating group for intelligence agencies in the US, Canada, UK, Australia, and New Zealand.

    “There’s been some talk in the media that Trump might want to evict Canada from it . . . Please could we follow?” she said.

    “I mean, really, the problem with Five Eyes now has become a basis for policy positioning on all sorts of things.

    “And to see it now as the basis for joint statements, finance minister meetings, this has got a bit out of control.”

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Interview with Sean Colgan

    Source: NASA

    I’m really pleased that you agreed to take advantage of this opportunity.  I don’t recall if I have actually met you personally,  but if so, then I apologize for not remembering.

    I don’t think so, although you’ve certainly signed things for me.

    Well, I guess I have because I do remember seeing your name from time to time on various things. You’ve been at Ames a long time and we’ll have you talk about that in a little bit. The focus of these interviews is not specifically on your work. In fact, it was intended to broaden people’s understanding of who you are and what you do when you’re not at work, because we get compartmentalized and mostly get to know people through our work interactions, so we’ll be touching on your other interests. As you’ve seen if you’ve read some of these, we generally start with your childhood. I try to look up bios and things like that ahead of time to see what I can glean before these interviews but you don’t have a very substantial presence on the web.

    I’m not a very public person.

    I did find that out (laughs).

    I did not volunteer for these and I tried to lay low until you hunted me down! (laughs)

    Well, I think you’ll be pleased and as I said, you can stay as private as you want during this whole interview.

    Sounds good.

    We like to start with where you were born, your family at the time, what your parents did, if you have siblings, and then we ask when became aware of or developed an interest in what you have pursued as a career.

    OK, and I’m going to be looking sideways at my notes because I printed out your list of questions and thought about them. Hopefully I won’t mess it up too much. I’m a big believer in the written word. I was born in Oakland, just up the Bay.

    So was I, so we have a connection right there!

    Up through my preteen years I grew up split between Oakland and North Lake Tahoe. My dad was a masonry contractor. When school got out in June we would go up to Tahoe where there was lots of work for him, building foundations for homes and so forth. When Christmas break came in school, we came back down to Oakland. We had a home in both places and dad could get work in the winter in the Bay Area. In the middle of every year during my preteen years, I switched between two schools. It was usually a bit of a jolt because the Oakland schools were ahead of the Tahoe schools, so there were a couple weeks of flailing about in January trying to catch up. They all used the same textbooks, but we were a couple of chapters behind at that point and had to catch up.

    When I was 12, Dad had established his business well enough at Tahoe that my parents sold both of the houses, built a somewhat bigger one, and we moved to Tahoe permanently. So from seventh grade through high school it was all at the northern end of Lake Tahoe.

    I have one sibling, a brother.

    And when did I start thinking about becoming an astronomer? I can’t remember exactly, to be perfectly honest. I do remember my parents showing me the constellations. I can remember specifically which constellations my dad showed me and which ones my mom showed me. I can’t remember a time when I wasn’t interested primarily in being an astronomer, but I probably went through an astronaut phase because it was the ‘60’s!  I got an astronomy book for my birthday one year and I know it was before I could really read and understand it. I remember looking at the pictures. In thinking about this interview, I went back and looked.  That book was published when I was five, so probably by the time I was five I was talking about it enough that I got this book for my birthday. I don’t have any similar books on other topics from that time. All the other books I have from back then are astronomy books for kids.

    Well, you were living in Lake Tahoe, which by the elevation and the clarity and lack of ambient lights around you would have had a really good view of the stars and constellations.

    Right. It was great. Although before we moved up there full time we were mostly there in the summer, so it didn’t get dark until after my bedtime.  When we moved up there full time, then I could go out in the winter and yeah, we had a spectacular view of the southern sky. There were woods but we could see over the trees. We could see the center of the Milky Way, and so forth. I had binoculars and a couple of small telescopes that I’d use, along with a star atlas to point me toward interesting things to look at.

    Did you say what your mother did? Did she work outside the home?

    Mom was a writer.  We traveled each year when we were growing up. She would write travelogues of those trips and try to get them published. She also wrote haiku poetry, and she tried her hand at writing other things. She was published a bit, but not a whole lot. Mom did get one of her travelogues published in the Christian Science Monitor. That was a highlight for her.

    And was your brother older or younger?

    My brother is two years younger, and we had somewhat similar trajectories.  We’ll get to education later but he majored in physics as well. He followed me in similar universities, but ended up going into material sciences. He is now on the East Coast working for IBM.

    That’s great.

    He was named a Master Inventor in 2018.

    A what?

    A Master Inventor. He has over 200 patents, so IBM honored him with this title.

    That’s quite an honor!  Your education was interesting because of the split between the two schools.  But then at some point, when you went to college, you had to declare a major. You said you had already developed an interest in astronomy, so did you pursue that science discipline right off the bat?

    I went to UC Riverside for two years, and then I transferred to Caltech. My freshman year  I really nailed down my choice for astronomy. I remember going to the Career Center and taking an interest survey, which has nothing to do with what you’re able to do. It just asks what you’re interested in doing, and it came up as physicist or musician.  I have no musical skills so that pointed me in the other direction. I thought briefly about geology, since my dad had been a geology major, but I really settled on astronomy at that point, which is why I transferred. Riverside didn’t have an astronomy major,  they only had a physics major. I really wanted to get an astronomy background and start on it early.

    My time at Caltech was probably the toughest two years I’ve ever had. I was behind because I had gone to Riverside for two years and the Caltech student body was extremely competitive. Caltech was not generous with their transfer credits. I ended up taking a very heavy course load, but I did make it out in two years. From there I applied to a number of grad schools. I settled on Cornell for a couple reasons: First of all because they had groups working in the areas  of astronomy I thought I was interested in, which were radio and infrared. Second of all, after four years in southern California I really wanted to go to a more rural setting to continue my education.

    I have to ask this because when we’ve interviewed others who have gone to Cornell, most of them have mentioned the influence of Carl Sagan and I just wondered if that figured into your choice, or was he gone by the time you went there?

    Well, I  did meet Carl, at a second year reception he threw for the grad students.  He was gone most of my first year working on Cosmos the television show. He had taken a leave of absence and wasn’t around. When he came back he threw a reception for all of us, and I got to shake his hand. He was a planetary scientist, of course, and that was not where I was aiming my trajectory.  I didn’t see him a whole lot other than that one reception. Although from time to time the kind of people you really don’t want wandering around the halls would come around the building looking for Carl Sagan. Security would chase them down and get them out. These are really my most distinct memories of Carl.

    And your PhD was in astronomy, not physics?

    It was in astronomy and my dissertation was on radio astronomy. I did it almost exclusively at Arecibo (Arecibo Observatory, National Astronomy and Ionosphere Center, Arecibo, Puerto Rico) with a little bit at the VLA (Very Large Array Radio Telescope facility, near Socorro, New Mexico). I got to work with some really smart people at Cornell, observational and theoretical.

    At this point we usually inquire about the connection or the influence, that brought you from your PhD to NASA Ames.

    My degree was in radio astronomy but the other interest I always had along the way, which I hadn’t been able to look into, was infrared astronomy. Getting post docs is very competitive, back then we called them NRC’s. The NRC offer from Ed Erickson’s group at Ames was the best offer, so I came out for that. It wasn’t a sure thing, there was back and forth and the highest rated candidate had to turn down the job before they would make me an offer.  But fortunately for me the highest rated candidate was my office mate at Cornell. I knew he was going to turn down the offer as soon as he got another one he wanted, so I was aware a little bit in advance of getting the call from Ed that things had worked out.

    And Ed was your advisor?

    Ed was my advisor. So I came and did two years as an NRC and then continued working with the group. I had made myself sufficiently useful that when I was ready to apply for other jobs, Ed offered me a raise if I’d stay with the group and continue working. That was a really good time. We flew on the KAO (Kuiper Airborne Observatory). They didn’t really have facility instruments, so we had our own instrument, but we did support observers from outside our group. We probably had more flights than any other instrument on the KAO during that period. It was a lot of flights. We had to operate it ourselves. All of us had our own particular jobs on flights. We did everything from prepping for the observations, writing proposals, all the way through to seeing them published. We were a small team: Ed Erickson, Mike Haas; Jan Simpson, and Bob Rubin on the science side helped out. We had a shop guy, Gene Beckstrom, and others after him.  We had a lab technician, Jim Baltz. Dave Hollenbach would also work with us, and that was very rewarding. He was a very sharp guy in terms of theory, ideas and projects to do. Here is a photo of some of us with our instrument rack getting ready for a KAO flight:

    So you came in on an NRC postdoctoral fellowship in the mid-‘80’s?

    Yes, I started on October 6th, 1986.

    And your first work was on the KAO and then probably a decade later you continued on SOFIA (Stratospheric Observatory for Infrared Astronomy)?

    It was ‘95 or ‘96 when they shut down the KAO to use the funding for SOFIA development. I remember the meeting still. It was in the upstairs auditorium and they came in and announced they were shutting the KAO down. I think it was Dave Morrison, who was the division chief, who told us not to whine about shutting it down because planetary missions sometimes had years when they didn’t have their facilities. In this case it was only going to be two years and we would be up and flying in 1997. Of course, as we know, it was more like ten years after that before we were even close to flying.

    Yes, I thought the same thing, that it was not going to be two years. It always takes longer than that.

    Well, I don’t think anybody thought it was going to be as many years as it was.

    But you flew on both the KAO and SOFIA?

    I had ninety nine flights on the Kuiper (KAO) because I kept track of them, and on SOFIA I had two flights, so I was not a flyer on SOFIA. It was more of a facility observatory, and the people who flew a lot were really part of the observatory. They were operating the telescope or operating a science instrument. My flights on SOFIA were because I had written some software for the GREAT Instrument (German Receiver for Astronomy at Terahertz Frequencies, a modular dual-color heterodyne instrument for high-resolution far-infrared spectroscopy) to help them interface with SOFIA. I was along on  those commissioning flights for GREAT in case my software broke. They wanted me on board. Interestingly by the rules at the time, I wouldn’t be allowed to actually fix the software in flight because it was flight software and had to go through all the reviews. None of the people who could do the reviews were on the airplane, but I could see how it broke and maybe I could suggest workarounds. It was not nearly as much fun for me as the KAO. I didn’t really have a job. The software had issues from time to time, but it basically worked. Everybody else had jobs, so for me it was less interesting, which is why I didn’t make a huge effort to keep flying on SOFIA.

    Did you stay on the SOFIA project as a somewhat non flying support person?

    Yes, from when the Kuiper stopped flying until about, well now, my primary work on SOFIA has been first with the project science team during development – trying to make sure they met our requirements, helping everybody understand our requirements, trying to make sure they weren’t making any huge mistakes. They made them anyway, especially when they didn’t listen to us, but we did our best. During the early years of SOFIA, I was also on the Ames team developing AIRES – a facility Science Instrument for SOFIA. I led the software effort, but the development was canceled in 2001. I then got involved with the software that people would use to propose to SOFIA, the proposal software, the software to estimate how long you should be asking for time, the sensitivity of the instruments, pieces of software like that. I worked with Dave Goorvich. We got software from other observatories as starting points and then modified them for SOFIA, software “re-use” they called it. And that was basically my main job throughout SOFIA’s lifetime. Once we developed those, the USRA (Universities Space Research Association) folks built their team around maintaining them and I joined that team because I’d been working on this software for so long. I also got into the package I mentioned to help GREAT interface to SOFIA. It basically made SOFIA look like the telescope that the GREAT team had been using for years, an observatory called KOSMA. We called it the translator and it translated KOSMA commands into SOFIA commands; then SOFIA housekeeping back into KOSMA housekeeping, so they didn’t need to change their software to work with SOFIA. As the aircraft started flying, it became quite clear that I was oversubscribed. I was not meeting my deadlines for either of those two efforts, so I gave up the translator. They hired another fellow to maintain that, although I stayed in touch with it for some years, helping him when he had questions and so forth. I then focused my main effort over on SOFIA’s DCS (Data Cycle System) side.              

    What has been your most interesting work here at Ames?

    I’d say it was flying on the KAO, but very specifically it was Supernova 1987A which occurred after I had been here for only a couple of months. It went off in February of 1987. Nobody really knew what it would look like in the infrared to an instrument on an observatory like the KAO, so it was obviously a huge deal since it was the closest supernova for hundreds of years.  Our team just completely redirected  to carry out observations of the supernova.  Dave Hollenbach and I worked together to try and figure out what we would see. We wrote up the science portion of the proposal,. For these observations, our instrument – the CGS (Cooled-Grating-Spectrometer) – had to be fairly substantially reworked in the sense that the grating needed to be changed to go to lower resolution and the detectors needed to be changed to get wider bandwidth and go to shorter wavelengths. Ed and Mike worked long days, weeks, and months to make all of those changes happen. In our proposal we made some predictions about which lines we could see, mostly iron lines, and which ionization states. We put that in the proposal, which was accepted. We then wrote up the proposal as a separate paper. When we went down and did the observations, we actually got some of it right. Surprisingly, iron was indeed bright. We thought we’d be seeing all different ionized states of iron, from singly, doubly, triply ionized iron, when in fact it was very much concentrated in singly ionized iron with a little bit of doubly ionized iron, there was a faint line there. We had gotten the temperatures right, but we didn’t quite get the ionization right. We were in the ballpark, so I think this was really the most interesting work in that when we started nobody had really seen anything like it before. We were starting from very basic principles, and we followed that all the way through to a nice series of papers. We went down for three different epochs because the lines were changing with time as the supernova ejecta expanded. We obtained three sets of measurements, which resulted in three papers.

    What I’m currently working on? Well, SOFIA is, of course, shut down and I am working as part of the shutdown process. We’re trying to reprocess a lot of the data to bring it up to standard, especially the older data. We learned more about the instruments as time went on, so we can now do a better job of reducing the data. I’m helping out with reducing the data, getting it into the archive as we shut down, and of course, writing proposals.

    What comes next? So far I’ve collaborated mainly with Naseem, whom you have spoken to, Sarah Nickerson, whom you also have spoken to, and Doug Hoffman (whom we’ve also spoken to). So that’s proposals.

    How is your work relevant to Ames and the NASA mission? 

    Well, I’ve worked on NASA missions almost my entire career, so I think that’s the closest to relevance as you can get.

    What is a typical day like for you?

    I mostly work, well before the pandemic in my office, but now it’s back and forth. I do like to come into the office although this week is a little different. That’s why we’re doing this interview from home. My wife is out of town and I like to work at home on those weeks just to keep the dog out of trouble. So I’m at a computer. I’m a software guy and a data analysis guy, not a lab guy, so I work at the computer. I actually have several computers on my desk. I look like a real developer (laughs). If you see my desk, I’ve got a couple of big screens and couple of computers underneath hooked up to different things and I can switch them around. So that’s a typical day, but at home it’s a little tougher. I don’t have a desk that can really manage the big screens, so I’ve just got one little laptop screen to work with.

    Is home close enough that the pandemic shut down of the Center didn’t really save you a whole lot of commute time?

    I live across the Bay in Newark, which physically is not far, but traffic wise is not good. I typically come in later and stay later because that works with my wife’s schedule and also works with the traffic. We’re not so close that it’s easy. I hated during the pandemic having to work at home all the time because of the small screen and with no room to spread out piles of paper or stay organized. That was definitely a challenge. I was very glad to get back on site.

    What do you like most and least about your job?

    Most would be doing science, but I also enjoy coding. Least is probably the standard sorts of things that most people whine about when given any opportunity.  All the stuff that goes with the job that isn’t science or coding, like IT security and paperwork. Right now I’m in the midst of training, taking courses I’ve taken every year for the last ten years, which gets a little old after a while, things like that. But somebody thinks you need to do it, and I hope it makes us a better organization for everybody doing it.

    Do you have a favorite memory from your career? Or perhaps a research finding or breakthrough, or an unexpected research result?

    My favorite memory would be the Supernova 1987A work in general. We found some unexpected things there and we got some things right.

    If you could have a dream job, what would it be?

    My dream job is pretty close to what I have. Pretty close without all the extra stuff.

    What advice would you give to someone who wants a career like yours?

    Of course you’ve got to work hard, and you need to have an aptitude for it. It’s a very competitive field, so you’ve also got to realize that luck, or being in the right place at the right time, can be a factor in whether you continue or not.  I’ve had colleagues who were very good at what they do, but they just weren’t in the right place at the right time. They ended up leaving the field or doing something less than what they hoped. Some things are just out of your control.

    I did get lucky. I was in the right place at the right time. I flew on the Kuiper, and I developed skills. When SOFIA started, those skills were very much in demand.  That was my right place, right time moment, which is when I joined the civil service.  I had been a contractor  after my NRC ended through 1997. I became a civil servant then because there was so much work on SOFIA. I don’t know if that’s  helpful advice, but it’s just my take on things.

    Well, you’re right. There’s something to being in the right place, at the right time and being prepared, but there’s always the serendipity aspect, which is just part of life. You could have wound up somewhere else and been just as happy, you know.

    Oh yes, It doesn’t necessarily relate to happiness, but you’ve got to make the best with what you have.  I do feel lucky about that.

    Would you like to share anything about your family? Kids, pets, activities? You mentioned a dog?

    I’m going to mix the order up a little bit.

    Sure, go ahead.

    The accomplishment I’m most proud of that’s not science related would be 40 years of marriage to my fabulous wife. We just celebrated our 40th anniversary about a week and a half ago.

    Congratulations! That is indeed an accomplishment.

    So, no children but we do have a dog, a little Welsh Corgi. She’s our second corgi and she is just great. We do enjoy traveling. Typically, we’ll go on vacation in August. often to Europe. We’ve visited the UK five or six times, France a couple of times, Italy a couple of times. My father-in-law was born in Hungary, so we’ve gone there a couple times. Here is a photo of us at Lake Louise in 2019, with our Corgi.

    What do we do for fun the rest of the time? Besides leisure travel, I enjoy gardening. We also enjoy musical events.  We have season tickets to the San Jose Opera, for example, and we’ll go up to San Francisco for concerts a couple of times a year. We probably have an event every other month.  During the pandemic, the restaurants and movie theaters were closed, but wineries with outdoor spaces were open.  They started serving food during the pandemic, and they allowed dogs, so we got in the habit of doing a lot of wine tasting on weekends just to get out. We still do some of that. To celebrate our 40th, we went up to Napa and tasted a lot of great wines. (laughs)

    You mentioned that you’re not particularly musical, so you don’t play an instrument or anything, but you enjoy music and opera.

    I enjoy listening to music. I played instruments as a child but had no particular talent for it, so. . . .

    Do you like to read? And if so, any particular genre?

    I read a fair bit, and it’s sort of divided. For entertainment, I’ll read fantasy and science fiction, but when we go on our trips, I’m always buying books about what we’re doing. For example, if we go to France and visit cathedrals, I’ll buy books about how they built cathedrals; or in England I’ll read about old Stone Age tombs. Everybody’s heard about Stonehenge, but there are stone circles and other stacks of stones, big ones, all over the landscape, so I will buy books and read about them. I have books about Roman battle tactics, etc. Oh yes, and I also have a lot of geology books, depending on where we go. When we went to the Canadian Rockies, I got a lot of geology books about that locale. I bring those home, stack them up, and read them, hopefully before the next trip. So yes, a lot of reading. When my wife travels, sometimes I’ll go hiking. She’s gone up to 15-20 weekends a year  She’s a textile artist.She teaches lacemaking, which is the way they used to make lace by hand, before machines. There are groups around the country that enjoy lacemaking, so she travels to  teach workshops for them on weekends.

    Wow, that’s fascinating!

    This week, she’s actually up in Sparks, next to Reno, where the National Convention is going on. It moves around every year, but this year it’s relatively close. She travels a lot for that, which keeps her busy. When she’s away, our dog and I will sometimes go for hikes, if we don’t have too much other stuff to do. Interestingly,  we are not the only astronomer-lacemaker couple in the world (laughs). There’s an Australian couple – Ron and Jay Ekers – with Jay a lacemaker and Ron an astronomer. We had dinner with them once when they were visiting in the Bay Area because our wives knew each other. My wife had once traveled down to teach in Australia. Normally she just travels around the U.S., but she has done some international trips.

    Now, is this manual lacemaking with needles and thread or . . . ?

    There can be needles and thread. That’s one form of it. What my wife teaches is “bobbin lace”, which is made on a pillow usually stuffed with straw. Two bobbins are connected by a thread with many of these pairs used to weave threads together to create the pattern. Photos of Louise’s designs are on her website – https://colganlacestudio.com/. Here’s a photo of what a lace pillow looks like.

    Interesting. And when did she get interested in this? Was it something she learned as a child, from her mother or grandmother?

    No, it was at Cornell. She was in grad school there, which is where we met.

    And what was her course of study?

    She was in a Master’s program for historic preservation, basically how to preserve old buildings, of which there are many in upstate New York and few in the Bay Area. She had finished her class work, and I still had several years to go on my dissertation. She looked around for something to fill her time, and one of her friends – a colleague in her department – had already taken this up, and brought her to a meeting. She started taking classes from a local teacher, and by the time we moved west, she was well-versed. Not many people out here knew how to do it, so she started taking on students.

    So I’m calculating back, since I’m a numbers guy, that if you just celebrated your 40th anniversary, then you must have married her while you were still in grad school?

    Yes, about halfway through grad school, in 1983.

    Interesting. So you’re a little bit responsible for her developing this interest in lacemaking?

    I wouldn’t claim any of that.

    But you’re responsible for giving her the time to develop this interest in lacemaking that she has done so well in.

    It was all her effort. If anything, I made conditions difficult for her, and she found her way out (laughs). That’s probably the way I would phrase it.

    Fair enough. But it’s very interesting. I like when we can poke around a little bit and find out interesting things, because then people who read this will say, “Well, I didn’t know that he went there or that his wife does lacemaking or the other things that you’ve talked about. That’s part of the purpose of these interviews.  Who or what inspires you?

    That was a real easy one for me: the night sky.  It’s not so great in the Bay Area most times, but there’s so much going on up there. I mean, it’s really all laid out for you. Since I studied and read about  a lot about the sky as a kid, I know my way around it. a I also know fun little facts, so that’s entertaining to recall as well. When you get up in the mountains, of course it’s just beautiful.

    I feel the same way. I don’t see how anyone can look up at and ponder the night sky and not be just fascinated by it. The questions that come up about what it is, how it came to be, what its purpose is, if there is one, and all of that is just fascinating.

    Yes, I agree.

    Do you have a favorite image, of space or anything that is particularly meaningful to you?

    You know I don’t have one now. I mean, there are a lot of very nice ones out there. A big favorite I remember as a kid was a photo of H and Chi Persei, which is a double cluster of stars, not globular clusters but open clusters. It’s very colorful, with red stars and white stars and blue stars in the image – and just imagining it so far away, but these particular stars are so close together. I don’t know much about it, but something about it just impressed me. A photo like what I remember is at https://www.astrobin.com/337742/.

    The reason we ask about images is because we like to include them in the post, especially about things you’ve talked about.  You mentioned for example, the Supernova 1987A. If a picture from SOFIA came out of that it would be a great addition to this interview. And then maybe you have a picture of you and the corgi on a hike, or your wife doing lace work, anything like that would be great.

    Well, we’ll work on that.

    [Photo thoughts: The three of us from Lake Louise, link to H & Chi Persei photo on the web, Lace Pillow showing bobbins]

    That would be for when you return it after editing.  By the way the transcript is a living document so you can make changes right on it and that’s how it will go in. It isn’t all that formal, we’re not tracking edits or anything like that. We’ll add your pictures and get to a point where it’s set up as it would be when it gets posted and then we’ll send it to you for a final check.  We’re also several months out in terms of the queue of those that are going to be posted, so it won’t be immediate.

    Good.

    We’ve posted about 50 of these, but we’ve done another 20 that are in various stages of being made ready. We’ve sent them out but haven’t gotten them back yet because everybody’s so busy.  We do have a last question and that is do you have a favorite quote? One that you find meaningful, or witty, or clever, that kind of thing?

    I did think about it. Sometimes you asked the question in the online ones about inspirational quotes and this is definitely not inspirational.

    It doesn’t have to be.

    I was hoping that because you didn’t say it here. My favorite quote is one my mom said a lot when I was growing up. She always attributed it to her father. I actually looked it up on the web, because I would have thought Mark Twain perhaps said it. It doesn’t seem that anybody famous has said it though. The reference is in a book from just ten years ago. The quote is: “The reward for good work is more work.”

    Ah, I like that. That’s clever and witty and seems to be true.

    Right.

    One of my favorite quotes which I don’t think I put into my post because there’s so many of them is from Mike Griffin, former NASA Administrator. He was talking with the press, I think about risk management and why we do things that don’t always work out. He was explaining that there’s always a risk, and if you don’t accept the risk, then you don’t make progress, but they kept questioning him and pushing back on that idea. And he said, “I can explain it to you, but I can’t understand it for you.”  And I thought, that’s a good line!

    Anyway, you ran the table here on the questions and I appreciate that you prepared ahead of time and wrote some notes down, which made the interview go very well.

    As I said, I prefer the written word. I’m not as good at thinking on my feet.

    Is there something that you wish we had asked or had put down as a topic that we didn’t, that you would like to add here? And you can certainly add or change anything when we send this back. There’s a note on the transcript that you have full creative control. So if you wanted to say something but didn’t, you can type in an entire extra paragraph or extra question, or remove and cut out an entire section.

    And  with that, I’ll take the recording and start putting it on a paper and within a couple of weeks, I’ll send you the initial draft and then you can do with it as you wish and send any pictures or anything that relate to things that you talked about and then we’ll get it ready and put it in the queue and eventually you’ll get perhaps a few of your entitled 15 minutes of fame when this goes up. I will add that it goes up on the public side of the of the website so that your family or your friends, anybody can access it and read it.

    So if somebody googles names of interviews you’ve done, the links to the interviews come up.

    Well, I hope that doesn’t cause you heartburn.

    I’ve thought about that as I was phrasing my answers, and changed some passwords so I can include names in the photo captions

    I hadn’t thought of that aspect of it, but you’re probably right.

    Yeah.

    I never know what’s going to touch someone’s concerns.

    Well, just to be careful.

    (Mark) There’s another thing that even after we publish, we can still edit them years into the future. Everything on the main sites can be changed at any given moment. Also, Fred, just to note, our interviews rank pretty high on the Google rankings. Usually when you Google someone’s name and then NASA, our interviews are near the top of their results, like on the first screen that comes up.

    (Fred) Oh, really? I didn’t know that.

    (Mark) Yeah. This is a pretty good series, people check it out a lot.

    Which means that people googling names are clicking on the interviews and reading them.
    (Mark) People read these a lot.

    (Fred) The other series I do for the website is “Interesting Fact of the Month”.  Steve Howell suggested that would be a nice addition as we try to attract traffic to the website, and I heard a year or so ago that it was the top item on the code ST website, it got the most hits.

    (Mark) Yes, you’ve got spots one and two on your side projects!

    (Fred) Well, Sean, I appreciate that you were able to overcome your initial hesitation and take the time to work with us on this and I think you’ll be pleased with how it comes out. Thank you very much for being so organized.

    Thank you for your time.

    Interview conducted by Fred Van Wert and Mark Vorobets on June 29, 2023

    MIL OSI USA News

  • MIL-OSI Economics: Thales reports its 2024 full-year results

    Source: Thales Group

    Headline: Thales reports its 2024 full-year results

    • Order intake: €25.3 billion, up 9% (+6% on an organic basis1)
    • Sales: €20.6 billion, up 11.7% (+8.3% on an organic basis)
    • Adjusted EBIT2: €2,419 million, up 13.4% (+5.7% on an organic basis)
    • Adjusted net income, Group share2: €1,900 million, up 7%
    • Consolidated net income, Group share: €1,420 million, up sharply by 39%
    • Free operating cash flow from continuing operations 2,3: €2,142 million, up 9%
    • Free operating cash flow2: €2,027 million, stable against 2023
    • Dividend4of €3.70 per share, representing 40% of Adjusted net income, Group share
    • Non-financial performance: steady progress towards medium to long-term targets
    • 2025 objectives:
      • Book-to-bill5above 1
      • Organic sales growth of between +5% and +6%, corresponding to sales between €21.7 billion and €21.9 billion
      • Adjusted EBIT margin between 12.2% and 12.4%

    Thales’s Board of Directors (Euronext Paris: HO) met on March 3, 2025 to review the 2024 financial statements6.

    “2024 was once again a year of strong profitable growth for Thales.

    ​Thales, a world leader in advanced technologies in Defence, Aerospace, Cybersecurity and Digital, maintained excellent sales momentum throughout the year, achieving a record order intake of more than €25 billion. The record order book provides unprecedented visibility for all our activities.
    ​Sales exceeded the €20 billion mark with organic growth of 8.3%, above expectations. Defence activities, underpinned by an ongoing increase in the Group’s production capacity, the technological excellence of our products and the commitment from all our colleagues, contributed in particular to this performance.
    ​Thales also demonstrated once again its ability to generate profitable growth, with an increase in EBIT in absolute terms and as a percentage, reflecting the strength of its operating leverage.
    ​Thanks to its unique business model based on world-class products, systems and services, Thales generated free operating cash flow of more than €2 billion.
    ​Non-financial performance was also remarkable in 2024. The validity of our CSR strategy was acknowledged as Thales joined the CAC 40 ESG index in 2024.
    ​This historic performance is the result of the unfailing commitment of our 83,000 employees, and I would like to thank them sincerely for their dedication to our clients.

    ​We are starting 2025 with confidence and determination and a positive outlook for the vast majority of our activities. Thales presented its new strategic roadmap in November 2024. By drawing on its unique leadership positions serving growing markets and its ability to innovate and anticipate technological breakthroughs, the Group affirms its ambition to deliver accelerated, profitable and sustainable growth over the coming years, starting in 2025.”

    Patrice Caine, Chairman & Chief Executive Officer

    Key figures

    Order intake for the 2024 financial year increased by 9% compared with 2023 at €25,289 million and by +6% on an organic basis (i.e. at constant scope and exchange rates). Commercial performance was once again supported by strong demand in the Defence segment and by continued sustained momentum in the Aerospace segment. As at 31 December 2024, the consolidated order book amounted to nearly €51 billion, a record level, up by nearly €5.4 billion compared with the end of 2023.

    Sales totaled €20,577 million, up 11.7% from 2023 (+8.3% in organic growth). This robust growth reflects in particular the solid performance of the Defence business throughout the year.

    Adjusted EBIT7 stood at €2,419 million in 2024 (11.8% of sales), compared with €2,132 million (11.6% of sales) in 2023, an increase of 13.4% (+5.7% organic change).

    At €1,900 million, Adjusted net income, Group share7 was up +7% compared to 2023.

    Consolidated net income, Group share, stood at €1,420 million, up sharply by +39% from 2023. This increase can be explained notably by the recognition in 2023 of a non-current and non-recurring expense linked to the implementation of insurance coverage for the Group’s commitments under the Thales UK Pension Scheme. These commitments were transferred to Rothesay at the end of 2023.

    Free operating cash flow from continuing operations7,9 amounted to €2,142 million, compared with €1,968 million in 2023. Including the contribution of discontinued operations, free operating cash flow7 amounted to €2,027 million, compared with €2,026 million in 2023.
    ​Calculated on the basis of the scope of continuing operations, the cash conversion ratio of Adjusted net income, Group share, into operating free cash flow was 114%. This once again exceptional performance, which saw the cash conversion ratio exceed 100% for the fifth consecutive year, reflects the excellent momentum of new orders, the phasing effects on cash inflows related to contracts’ execution and the continued Group’s mobilization of its CA$H! plan aimed at optimizing this conversion ratio.

    In this context, the Board of Directors decided to propose the payment of a dividend of €3.70 per share, corresponding to a payout ratio of 40% of the Adjusted net income, Group share. An interim dividend of €0.85 per share was paid on December 5, 2024. The balance of €2.85 will be paid on May 22, 2025.

    Order intake

    Order intake for the 2024 financial year totaled €25,289 million, up 9% from 2023 in total change and up +6% at constant scope and exchange rates11. For the fourth consecutive year, the order intake was more than 20% higher than sales (book-to-bill). Thebook-to-bill ratio was 1.23, flat against 2023, and 1.28 excluding the Cyber & Digital business, where the order intake is structurally very close to sales.

    In 2024, Thales signed 35 large orders with a unit value of over €100 million, representing a total of €8,674 million:

    • Four large orders booked in Q1 2024:
      • The entry into force of the third phase of the order placed by Indonesia in 2022 for the purchase of 42 Rafale aircraft (18 aircraft and support services);
      • Phased contract with the French Defence Procurement Agency (DGA) to develop the next generation of sonars to equip French nuclear-powered ballistic-missile submarines (SSBN);
      • Order of an aerial surveillance system for a military customer in the Middle East;
      • Second tranche of the contract signed in 2023 between France and Italy for the production of 400 ASTER B1NT ground-to-air missiles.
    • Eight large orders booked in Q2 2024:
      • Order for a next generation cloud native “FLYTEDGE” InFlight Entertainment System for a major worldwide airline;
      • Order by SKY Perfect JSAT to Thales Alenia Space of JSAT-31, a new generation of satellite reconfigurable in orbit using Space INSPIRE technology;
      • Exomars 2028, a contract signed between industrial prime contractor Thales Alenia Space and the European Space Agency (ESA) to relaunch the European space mission dedicated to the exploration of the Red Planet;
      • Order of two new F126 frigates by the German Navy. This additional contract brings the number of F126 frigates acquired by the German Navy to six in the past four years;
      • Order by the Dutch Ministry of Defence of seven additional Ground Master 200 multi-mission compact radars;
      • Service contract for the maintenance of the Royal Australian Navy fleet;
      • Order by an Asian customer of latest-generation Ground Master 400 Alpha long-range air surveillance radars;
      • Order by France’s Joint Munitions Command (SiMu) of tens of thousands of 120mm rifled ammunition.
    • Seven major orders recorded in Q3 2024:
      • Notification by the DGA of the second tranche of the development of the future RBE2 XG radar for the Rafale F5;
      • Order for the supply of anti-submarine warfare systems for the first phase of the construction of six HUNTER-class frigates for the Royal Australian Navy;
      • Order for the renovation of an air traffic management system;
      • Order from the UK Ministry of Defence for the supply of Lightweight Multi-role Missiles (LMM) to strengthen Ukraine’s air defence capabilities;
      • Order of LMM for the British armed forces;
      • Order for the supply of Ground Fire multifunction radar and engagement modules following France’s acquisition of seven SAMP/T NG air defence systems;
      • Order for the supply of communications, vetronics, navigation and optronics equipment for vehicles in the French Army’s SCORPION program.
    • Sixteen large orders booked in Q4 2024:
      • Order for the supply of a satellite for the European Space Agency’s EnVision scientific mission to understand the planet Venus;
      • Contract amendment signed with OHB System for the payload of the third satellite of the European CO2M mission focused on CO2 emissions generated by human activity;
      • Amendment to the contract with the European Space Agency for the development of the ESPRIT communications and refueling module for the future lunar space station, Gateway;
      • Order for the development of the world’s first quantum key distribution (QKD) system from geostationary orbit, in collaboration with Hispasat;
      • Contract with the Mohammed Bin Rashid Space Centre to develop the Emirates Airlock Module on board the future lunar space station Gateway;
      • Entry into force of the contract for the supply of 12 Rafale to Serbia;
      • Order from Naval Group for the supply of equipment for the submarine delivery contract in the Netherlands;
      • Order under the AJISS contract to provide In-Service Support to Royal Canadian Navy ships;
      • Order for the development and production of 430 new-generation MICA-NG interception, combat and self-defence missile seekers;
      • Order from the UK Ministry of Defence for the development and preparation of large-scale production of STARStreak HVMs (High Velocity Missiles) for the armed forces;
      • Order from the French Air Navigation Services Directorate (DSNA) aimed at improving the 4-Flight air traffic management system;
      • Amendment to the CONTACT contract with the DGA providing the armed forces with a range of software-defined radios designed for collaborative combat;
      • Order from the UK Ministry of Defence to ensure the permanence and maneuverability of the Royal Navy’s operational communications;
      • Order from the DGA as part of the SYRACUSE IV program to equip the French army’s SCORPION vehicles with Thales’ secure satellite communications solution;
      • Order from the DGA for the design, delivery and maintenance of a resilient communication system;
      • Order from the DGA to produce an encryption key management and distribution system and key injector for the Ministry of the Armed Forces.

    With a total amount of €16,615 million, order intake with a unit value of less than €100 million continued to record favorable momentum.

    Geographically12, order intake in mature markets amounted to €19,010 million, very close to that recorded in 2023, which though included the £1.8 billion MSET contract in the United Kingdom. Sales momentum elsewhere was also solid, particularly in the rest of Europe (up by 16% on an organic basis) and in Australia and New Zealand (up by 13% on an organic basis). Order intake in emerging markets was up sharply in 2024, amounting to €6,279 million (+39% at constant scope and exchange rates) thanks to continued strong momentum in the Near and Middle East (with an organic increase of 80%).

    Order intake in the Aerospace segment totaled €6,434 million compared to €5,606 million in 2023 (+14% at constant scope and exchange rates). This solid growth reflects several trends.

    • The different segments of the Avionics market continued to record sustained demand in 2024;
    • The Space business posted sustained growth in order intake, including five orders with a unit value of more than €100 million recorded in the fourth quarter, four of which in OEN (Observation, Exploration & Science and Navigation) activities.
    • At December 31, 2024, the segment’s order book stood at €10.5 billion, up 13% from 2023.

    At €14,723 million compared to €13,944 million in 2023, order intake in the Defence segment set a new record (+5% at constant scope and exchange rates). The book-to-bill ratio was 1.34, above 1.2 for the sixth consecutive year. This high level is explained by continued strong demand in all activities, with twenty-seven contracts with a unit value of more than €100 million recorded in 2024. The segment’s order book reached a new record at €39.2 billion (up 12%), corresponding to 3.6 years of sales, offering strong visibility for the years ahead.

    At 4,032 million, order intake in the Cyber & Digital segment was structurally very close to sales as most business lines in this segment operate on short sales cycles. The order book is therefore not significant.

    Sales

    Note: full-year 2023 figures have been restated to reflect the transfer of cyber civil activities from the Defence segment to the Cyber & Digital segment.

    Sales for the 2024 financial year totaled €20,577 million, compared to €18,428 million in 2023, up 11.7% in total change and 8.3% in organic terms (at constant scope and exchange rates14), driven in particular by the robust performance of the Defence segment.

    Geographically15, sales recorded solid growth in both mature markets (+7.9% in organic terms) and emerging markets (+9.6% in organic terms), driven by double-digit growth in Asia.

    Sales in the Aerospace segment totaled €5,471 million, up 4.8% from 2023 (+2.9% at constant scope and exchange rates). Momentum in this segment reflects contrasting trends:

    • The Avionics business posted mid-single digit organic growth in 2024, notably driven by strong momentum in both original equipment activities and aftermarket services, with a return to pre-Covid levels in air traffic. However, as expected, the fourth quarter was impacted by delays in aircraft deliveries to airlines, which postponed in-flight entertainment (IFE) sales;
    • As expected, sales were almost flat in the Space business. The telecommunications segment continued to be impacted by structurally lower demand in the geostationary satellite market. Conversely, trends remain positive for OEN activities.

    Sales in the Defence segment totaled €10,969 million, up 13.9% from 2023 (+13.3% at constant scope and exchange rates). This strong growth came against a backdrop of steady growth in the Group’s production capacity, enabling it to meet high demand in all product lines. Growth was notably driven by land and air systems, such as tactical vehicles and systems or surface radars. The fourth quarter of 2024 also benefited from favorable cut-off effects.

    At €4,024 million, sales in the Cyber & Digital segment increased by 1.4% at constant scope and exchange rates (and +14.8% in total change including the positive scope effect of the acquisitions of Imperva and Tesserent). This moderate organic sales growth reflects different trends depending on the activities:

    • Strong momentum continued for cyber businesses, including a strong performance from Imperva;
    • Against a high comparison basis in 2023, payment services sales were impacted by destocking by our customers in North America;
    • Lastly, the digitalization of secure connectivity solutions maintained its strong growth. Sales generated in fully digital connectivity solutions (including eSIMs and on-demand connectivity platforms) recorded double-digit organic growth and accounted for more than half of sales of this secure connectivity solutions business in 2024.

    Results

    For 2024, the Group posted Adjusted EBIT16 of €2,419 million, or 11.8% of sales, compared to €2,132 million (11.6% of sales) in 2023.

    The Aerospace segment recorded Adjusted EBIT of €391 million (7.2% of sales), compared with €369 million (7.1% of sales) in 2023. The segment’s Adjusted EBIT margin is driven by the Avionics business, which posted a double-digit margin and improving, including the contribution of Cobham AeroComms. However, Space activities weighed on the segment’s margin, recording as expected a negative Adjusted EBIT margin in 2024 resulting from several factors: an expected increase in R&D spending, restructuring costs linked to the adaptation plan announced in March 2024 and the impact of inflation not reflected on past contracts.

    Adjusted EBIT for the Defence segment amounted to €1,432 million, compared with €1,270 million in 2023 (an increase of +13.0% at constant scope and exchange rates). The margin for this segment was stable at 13.1%, compared to 13.2% in 2023.

    At €585 million (14.5% of sales), Adjusted EBIT in the Cyber & Digital segment recorded solid growth in both value and margin. The improvement in profitability was notably due to the successful integration of Imperva and the robust margin on payment services and secure connectivity solutions for mobile networks in highly competitive markets.

    Naval Group’s contribution to the Group’s Adjusted EBIT amounted to €93 million in 2024, compared with €91 million in 2023.

    At -€166 million, compared with €2 million in 2023, net financial interest increased sharply, as expected. This increase was mainly linked to the substantial rise in debt following the acquisitions made in 2023. Other adjusted financial income16 stood at €35 million in 2024 versus -€37 million in 2023, reflecting the exceptional positive impact of dividends on non-consolidated affiliates and foreign exchange gains. The adjusted financial expense on pensions and other long-term employee benefits16 improved significantly (-€49 million compared with -€76 million in 2023), reflecting the removal of the interest expense following the transfer of UK pension obligations in December 2023.

    At €21 million, compared with €105 million in 2023, the Adjusted net income, Group share, from discontinued operations16 was in line with trends in the Transport business, which was sold on May 31, 2024.

    As a result, Adjusted net income, Group share16 was €1,900 million, compared to €1,768 million in 2023, after an adjusted income tax charge16 of -€427 million, compared to -€370 million in 2023. At 20.4% in 2024 compared to 20.1% in 2023, the effective tax rate was stable.

    The Adjusted net income, Group share, per share16 amounted to €9.24, up 9% from 2023 (€8.48).

    Consolidated net income, Group share, stood at €1,420 million, up 39% from 2023. This increase can be explained notably by the recognition in 2023 of a non-current and non-recurring expense linked to the implementation of insurance coverage for the Group’s commitments under the Thales UK Pension Scheme.

    Financial position at December 31, 2024

    Free operating cash flow17 amounted to €2,027 million compared to €2,026 million in 2023. It included a contribution of €2,142 million from continuing operations and -€116 million from discontinued operations. For continuing operations, the cash conversion ratio of Adjusted net income, Group share, into free operating cash flow was 114%.

    The net balance of acquisitions and disposals of subsidiaries and affiliates amounted to €359 million. Under its acquisition strategy, the Group completed two major operations in 2024:

    • The acquisition (on April 2, 2024) of Cobham Aerospace Communications, a leading supplier of cutting-edge technologies enabling flexible, integrated and more-autonomous avionics systems, based primarily in the United States and generating sales of approximately $200 million in 2023 (see press releases dated July 12, 2023 and April 2, 2024);
    • The sale (on 31 May 2024) to Hitachi Rail of the Transport business, a global leader in rail signaling and train control systems, telecommunications and supervision systems, and fare collection solutions (see press releases dated August 4, 2021 and May 31, 2024). This business generated sales of €1,822 million in 2023.

    As part of the share buyback program covering a maximum of 3.5% of the capital announced in March 2022 and completed in March 2024, 1,245,757 shares were repurchased during 2024, representing 0.6% of the share capital, for €176 million. The Group repurchased a total of 7,469,396 shares under this program, 3.5% of the share capital.

    At December 31, 2024, net debt amounted to €3,044 million compared with €4,190 million at December 31, 2023. This decrease reflects the impact of free operating cash flow generation, acquisitions and disposals for -€359 million (€3,464 million in 2023), the payment of €708 million in dividends (€634 million in 2023), new lease liabilities for €143 million (€166 million in 2023) and the share buyback program.

    Equity, Group share amounted to €7,515 million, compared with €6,830 million at December 31, 2023. This increase reflects the positive contribution of consolidated net income, Group share (€1,420 million) less the dividend payout (-€708 million) and share buybacks (-€176 million).

    Non-financial performance

    In line with its corporate purpose of “Building a future we can all trust”, Thales has set itself the ambition in terms of Corporate Social Responsibility (CSR): to contribute to a safer, greener and more inclusive world. First, the Group will seek to maximize the contribution of its portfolio of solutions to the planet and society. Secondly, Thales has set itself ambitious targets on three main priorities:

    • The fight against global warming;
    • Strengthening gender diversity at all levels;
    • The implementation of the best standards in terms of ethics and compliance.

    In terms of the fight against global warming, scope 1 & 2 CO2 emissions fell by 56.8% in 2024 compared to 2018 and scope 3 emissions fell by 24.7% compared to 2018. The Group has thus achieved its 2030 targets ahead of schedule for the second consecutive year. The absolute value reduction targets for carbon footprint remain relevant for 2030 given the Group’s growth prospects. To raise employee awareness to climate change and its impacts on society and on the Group, a voluntary training named “Thales Climate Passport” was deployed in 2024 with the aim of training 50% of managers. Over 67.4% of managers, representing around 35,000 employees, completed this training course in 2024, demonstrating the great success of this training.

    With regard to strengthening diversity, Thales has set itself an ambitious target for 2026 to have 75% of management committees with at least 4 women. Thus, at the end of 2024, 61.5% of the Group’s management committees had at least 4 women, compared to 52.6% at the end of 2023. The highest levels of responsibility comprised 21.1% women at the end of 2024[1]; a performance in line with the Group’s trajectory to reach the set goal of 22.5% by 2026 (compared to 20.4% at the end of 2023 and 16.6% at the end of 2018).

    In the area of ethics and compliance, 100% of employees concerned by the 2024 anti-corruption training campaign have been trained, demonstrating the Group’s continuous commitment to train all employees potentially exposed to risk situations. In 2024, the ISO 37001 certification “Anti-bribery management systems” was renewed for 3 years and extended to Germany, Australia, and New Zealand after Canada and the United States in 2023, and the United Kingdom and the Netherlands in 2022. Thus, in 2024, the revenue generated by certified entities represents 64% of the Group’s revenue (vs. 58% in 2023).

    [1] Percentage of women in the total workforce: 27.4%.

    Proposed dividend

    The Board of Directors decided to propose to the shareholders, who will convene at the Annual General Meeting on May 16, 2025, the payment of a dividend of €3.70 per share. This corresponds to a payout ratio of 40% of the Adjusted net income, Group share, per share.

    If approved, the ex-dividend date will be May 20, 2025, and the payment date will be May 22 2025. This dividend will be paid fully in cash and will amount to €2.85 per share, after deducting the interim dividend of €0.85 per share paid in December 2024.

    Outlook

    Thales is embarking on 2025 with confidence, bolstered by good visibility in the vast majority of its activities.

    In 2025, the Avionics business will be driven by both the original equipment and aftermarket services activities, the continued growth of the Cobham AeroComms business, and the gradual recovery of the IFE business. In the Space business, the outlook remains positive, particularly in the Observation, Exploration & Science, Navigation and military telecommunications activities. However, the structural weakness of demand in the geostationary satellite market will dampen the growth of this activity. Thales will continue to implement its cost adaptation plan, with the objective of an Adjusted EBIT margin of 7%+ in the Space business in 2028.

    The Defence segment, which enjoys a record order book, will be further supported by strong demand in 2025, against a backdrop of increasing military spending, particularly in the geographical areas where the Group operates. With the increase in its production capacity over the past several years and a portfolio of premium solutions incorporating differentiating leading technologies, Thales is ideally positioned to meet its customers’ needs.

    Lastly, the Cyber and Digital segment will benefit from positive momentum in 2025, supported by Thales’ unique positioning and leadership. The continued development of Imperva will strengthen the differentiating value proposition in cybersecurity activities in order to take advantage of the buoyant environment. The payment services business is also expected to gradually return to growth.

    The Group expects net investment expenses to slightly exceed €700 million in 2025 (after €617 million in 2024) to meet the need to increase production capacity, particularly in the Defence business.

    As a result, Thales sets the following targets for 2025:

    • A book-to-bill ratio above 1;
    • Organic sales growth of between +5% and +6%, corresponding to sales in the range of €21.7 billion to €21.9 billion;
    • An Adjusted EBIT18 margin between 12.2% and 12.4%, up 40 to 60 basis points from 2024.

    The Group also expects to maintain a high cash conversion ratio of between 95% and 100% in 2025.

    Note: assuming no new major disruptions of macroeconomic and geopolitical context; including tariff increase.

    Impact of new tax measures in France

    Following the adoption of the 2025 budget, which introduces various tax changes, the impacts for the Thales Group are as follows:

    • An additional tax expense of ~€80 million related to the temporary additional corporate tax charge, giving rise to an additional tax of 41.2% in 2025, resulting in an overall tax rate of 36.13% (instead of the current rate of 25.83%);
    • ~€8 million in taxes payable on share cancellations made in October 2024 as part of the share buyback program.

    The temporary additional contribution to corporate tax for Naval Group could have a negative impact of around €8 million on Thales’ Adjusted EBIT in 2025.

    These different impacts will represent an equivalent cash outflow in 2025.

    ****

    This press release contains certain forward-looking statements. Although Thales believes that its expectations are based on reasonable assumptions, actual results may differ significantly from the forward-looking statements due to various risks and uncertainties, as described in the Company’s Universal Registration Document, which has been filed with the French financial markets authority (Autorité des marchés financiers – AMF).


    1 In this press release, “organic” means “at constant scope and exchange rates”. See note on methodology on page 18 and calculation on page 23.

    2 Non-GAAP financial indicators, see definitions in the appendices, page 18. The title “EBIT” has been amended to “Adjusted EBIT”, in accordance with ESMA’s recommendation.The definition remains unchanged.

    3 Operating free cash flow from continuing operations, excluding the Transport activity sold on May 31, 2024.

    4 Proposed to the Annual General Meeting on May 16, 2025.

    5 Ratio of order intake to sales.

    6 As at the date of this press release, the verification process on the sustainability information is ongoing. With the exception of the possible impact of the conclusions of this process, the audit procedures have been carried out. The audit report will be issued following the Board of Directors’ meeting on April 2, after the finalization of the procedures related to sustainability information.

    7 Non-GAAP financial indicators, see definitions in the appendices, page 18.

    8 Proposed to the Annual General Meeting on May 16, 2025.

    9 Free operating cash flow from continuing operations, excluding the Transport activity sold on May 31, 2024.

    10 Mature markets: Europe, North America, Australia, New Zealand; emerging markets: all other countries. See table on page 22.

    11 Taking into account a currency effect of €49 million and a net scope effect of €625 million.

    12 See table on page 22.

    13 Mature markets: Europe, North America, Australia, New Zealand; emerging markets: all other countries. See table on page 22.

    14 The calculation of the organic change in sales is shown on page 23.

    15 See table on page 22.

    16 Non-GAAP financial indicator, see definition in the appendices, page 18 and calculation, pages 20 and 21.

    17 Non-GAAP financial indicator, see definition in the appendices, page 18.

    18 The title “EBIT” has been amended to “Adjusted EBIT”, in accordance with ESMA’s recommendation.The definition remains unchanged.

    MIL OSI Economics

  • MIL-OSI: New Equifax Report: Fraud Concerns are Escalating with 89 per cent of Canadians Saying Companies Must Do More

    Source: GlobeNewswire (MIL-OSI)

    Seniors and Quebecers Report the Greatest Fraud Concerns
    – Equifax Canada Market Pulse Fraud Trends and Consumer Survey Report –

    TORONTO, March 04, 2025 (GLOBE NEWSWIRE) — Concerns about fraud are escalating among Canadians, with a new Equifax Canada survey* conducted ahead of Fraud Prevention Month revealing that 89 per cent of those surveyed believe companies must do more to protect personal data. Seniors and Quebec residents are particularly worried, demanding stronger fraud prevention measures and broader fraud education.

    Key findings of the survey:

    • More than half (55 per cent) of respondents believe identity thieves will always be one step ahead, with 51 per cent unsure of how to respond to fraud.
    • Seniors aged 65+ feel most at risk, with 96 per cent agreeing that companies must improve fraud protections, compared to 75 per cent of those aged 18-24.
    • Quebec (94 per cent) residents demanded the most action from companies on fraud prevention, while Alberta (86 per cent) was the lowest.
    • 64 per cent of respondents recognize that financial fraud fuels serious crimes like human trafficking and illegal weapons trade.
    • 58 per cent of respondents struggle to keep up with the latest scams, leaving many feeling vulnerable.
    • 48 per cent of respondents personally know someone who has been a victim of identity theft.

    “Fraud prevention is a major concern for many Canadians. Research shows that every dollar lost to a fraudster costs individuals and banks significantly more money. Companies must act now to strengthen fraud protection,” said Carl Davies, Head of Fraud & Identity at Equifax Canada. “Canadians, especially older adults, are demanding better safeguards to prevent financial crimes and identity theft.”

    The Auto Industry: A Hotspot for Fraud
    Auto fraud is a major concern with rates escalating in most provinces, particularly Ontario. According to recent Equifax Canada data, auto application fraud rate in Q4 2024 reached 0.26 per cent, up by 2 bps from Q3 2024 and up 9 bps when compared to 24 months ago. Falsified documents and inflated income are key drivers of first-party fraud in this sector, making up close to 80 per cent of all fraudulent applications. Consumers who are new-to-credit and new-to-Canada had significantly higher auto fraud rates in 2024 than other consumers — more than double the fraud rate that we see from consumers with more established credit files. Auto application fraud rates for those New to Canada/New to Credit in 2024 was 0.51 per cent compared to existing consumers at 0.22 per cent.

    Mortgage Fraud is Down but Falsified Financial Documents Remain a Challenge
    Equifax Canada is reporting that the Canadian mortgage market continues to slowly rebound from its lows in 2023, demonstrating growth in Q4 2024 with increased new mortgage accounts. Mortgage fraud rates have decreased significantly year-over-year, from 0.46 per cent in Q4 2023 to 0.19 per cent in Q4 2024. Despite this positive trend, falsified financial documents, such as bank statements and down payment information, remain a significant component of mortgage fraud at over 90 per cent. “This decline in fraud rates might be temporary. As interest rates gradually decrease, a potential surge in first-time buyers in 2025 could lead to increased fraudulent activity in mortgage credit applications. Consumers may misrepresent their financial information in an attempt to secure the best possible rates,” Davies warns.

    A Call for Stronger Corporate and Government Action
    Canadian survey respondents believe financial institutions, businesses, and the government all have a role to play in strengthening fraud prevention measures:

    • 88 per cent of respondents believe that both the public and private sectors must work together to combat financial crime
    • 84 per cent believe the government must improve public fraud education, with 91 per cent of seniors (65+) strongly agreeing
    • 77 per cent recognize the need to take personal steps to safeguard their data, but many feel unprepared
    • 61 per cent say banks should implement stronger security protocols
    • 59 per cent believe companies should leverage more sophisticated fraud detection tools

    Equifax Canada urges Canadians to take active steps in protecting their identities by regularly reviewing their credit reports for unusual activity, enabling multi-factor authentication on sensitive accounts, avoiding public WiFi for financial transactions, educating themselves on new fraud schemes, and consider investing in fraud protection services such as those offered by Equifax Canada.

    “As fraud tactics evolve, Canadians must remain vigilant,” added Davies. “By combining stronger corporate policies, government oversight, and personal diligence, we can make strides in fraud prevention.”

    * Equifax surveyed 1,590 Canadians ages 18-65, Feb. 7-9. A probability sample of the same size would yield a margin of error of +/- 2.5 per cent, 19 times out of 20.

    About Equifax
    At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

    Contact:

    Andrew Findlater
    SELECT Public Relations
    afindlater@selectpr.ca
    (647) 444-1197

    Angie Andich
    Equifax Canada Media Relations
    MediaRelationsCanada@equifax.com

    The MIL Network

  • MIL-OSI: Economic uncertainty has 83% of Canadians changing their financial habits; one-third say they’re worse off

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 04, 2025 (GLOBE NEWSWIRE) — The current economic climate has 83 per cent of Canadians adjusting their financial strategies, according to a new survey from CPA Canada and BDO Debt Solutions.

    The survey suggests three-quarters (76%) of Canadians say the broader economic climate is affecting their financial well-being, with one-third (34%) saying they are in worse financial shape than one year ago.

    Four in ten (40%) Canadians say inflation and the rising cost of living are their top concerns.

    Global issues, including trade tensions and the threat of U.S. tariffs, are contributing to what CPA Canada’s Chief Economist David-Alexandre Brassard describes as “weaponized uncertainty,” leaving many Canadians more pessimistic about their financial future than they were a year ago.

    “Personal finance doesn’t exist in a vacuum,” says Brassard. “As consumer confidence drops and spending weakens, Canada could face slower economic growth.”

    There is a noticeable generational divide in response to the current situation. Political instability is a source of stress for older Canadians, with 14 per cent of those aged 55 and older citing it as a concern. In contrast, only four per cent of younger Canadians, aged 18-34, share this concern. Despite this context, those aged 18-34 remain more optimistic about their financial prospects.

    “The financial caution we’re seeing isn’t just about inflation—it’s about uncertainty,” says Li Zhang, financial literacy leader at CPA Canada. “Many Canadians are bracing for worst-case scenarios, adjusting their financial plans to safeguard against potential downturns.”

    To cope with risings costs, 66 per cent of Canadians plan to reduce expenses—but despite growing concerns, only 24 per cent of Canadians plan to pay down debt considering the current economic climate.

    “Cutting spending is a positive step, but without a focus on debt repayment, financial stress will continue to build,” says Nancy Snedden, Licensed Insolvency Trustee and President at BDO Debt Solutions. “Many Canadians are struggling with credit card debt and without a plan to pay it off, they risk larger financial problems down the road.”

    Survey methodology

    Leger conducted the 2025 Economic uncertainty OMNIbus online survey from February 7 to February 10, 2025, among 1,590 randomly selected Canadians aged 18 and over.

    For the complete survey results or to schedule an interview, please contact media@cpacanada.ca.

    The MIL Network

  • MIL-OSI: Hotspot signs Memorandum with Clear Blue led Consortium to deploy 312 Telecom Site across Nigeria

    Source: GlobeNewswire (MIL-OSI)

    BARCELONA, Spain, March 04, 2025 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (TSXV: CBLU) the Smart Power Company, today announces that Hotspot (the leading telecommunications service provider in Nigeria) has signed a Memorandum of Understanding with a Clear Blue led consortium, including partners Empower New Energy and Netis, to deploy 312 solar powered telecom sites across Nigeria. The deal is subject to final contract negotiations and signatures and the rollout is targeted for the end of 2025.

    The consortium brings a group of expert skills and capabilities to quickly design, build and then operate the telecom network, solar power and tower sites:

    • Hotspot is a leader in building active telecom networks and services across Nigeria.
    • Clear Blue Technologies is the leader in providing highly reliable, low-cost Smart solar power for telecom infrastructure. With Clear Blue’s industry leading and patented Illumience Smart Power, and its ongoing service management, telecom services are delivered with maximum service levels and uptime, at the lowest Capex and Opex in the market.
    • Empower New Energy is a leading provider of clean energy project financing across Africa. With its entrepreneurial business and execution model, it is a perfect financing partner for the project.
    • Netis specializes in operating and managing telecom infrastructure and brings strong abilities to deliver the installation, operations, and maintenance services.

    “As everyone active in the telecom market in Africa is aware, it is a difficult operating environment with challenging Total Cost of Ownership (TCO) targets. And yet, it is probably the largest untapped telecom market in the world with significant growth potential”, said Morenikeji Aniye, CEO of Hotspot. “Clear Blue brings an innovative technology and service capability which, together with an innovative business model and structure, enables us to deploy and operate these sites while meeting stringent service and TCO targets.”

    “After having worked with Clear Blue on multiple projects, we are defining a speedy and unique model of partnership between the Smart Power provider and the financier. Together, we are able to deliver unparalleled value and flexibility in project structure and contracts to bring a financing model that will work for developers such as Hotspot,” said Terje Osmundsen, CEO of Empower New Energy.

    “We are thrilled to partner with Clear Blue and Empower and to support Hotspot in their aggressive growth plans,” said Hatim Zougary, Chief Business Development Officer of Netis.

    “The partners in this project bring together a very strong set of skills and an ability to execute that will ensure success for this project and hopefully many more phases to come,” said Miriam Tuerk, CEO of Clear Blue. “We are thrilled to have been chosen by Hotspot for this project which will bring connectivity to millions across Nigeria.”

    About Hotspot

    Hotspot Network Ltd, founded in 2008, obtained a co-location and Infrastructure Sharing License in 2012 and later an Internet Service Provider License from the NCC, enabling it to offer a wide range of telecommunications services, including managed services, wireless and mobile solutions, engineering support, and microwave solutions. Collaborating with a global network of partners, the company has grown rapidly to become a leading player in Africa’s digital transformation, renowned for innovative, award-winning solutions and exceptional client satisfaction. Its strategic alliances provide enterprise-level multi-sourcing opportunities, offering robust solutions and deep technical expertise. As a one-stop shop for connectivity and telecommunications, Hotspot Network Ltd.’s brand symbolizes evolving technology, guided by core values of Insight, Integrity, Innovation, Synergy, Safety, and Sustainability, reflected in its distinctive corporate identity.

    About Empower New Energy

    Established in 2017, Empower New Energy is a renewable energy financier and co-developer that finances, builds and owns clean power plants for commercial, industrial and agricultural energy users. https://www.empowernewenergy.com

    About Netis

    NETIS is a global leader in the telecommunications industry, with over 15 years of expertise in designing and developing high-performance network communication solutions. Netis specializes in the inception and construction of robust GSM, fiber optic, and energy networks, as well as the ongoing maintenance and optimization of existing infrastructures. Operating across 16 subsidiaries, NETIS actively delivers innovative telecom solutions throughout Africa.

    About Clear Blue Technologies International

    Clear Blue Technologies International, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)

    Legal Disclaimer:

    Neither 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 more information, contact:

    Miriam Tuerk, Co-Founder and CEO
    +1 416 433 3952
    miriam@clearbluetechnologies.com
    www.clearbluetechnologies.com/en/investors

    The MIL Network

  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Proceeds with Tariffs on Imports from Canada and Mexico

    US Senate News:

    Source: The White House
    SAFEGUARDING THE NATION: President Donald J. Trump is proceeding with implementing tariffs on Canada and Mexico under the International Emergency Economic Powers Act (IEEPA) to combat the extraordinary threat to U.S. national security, including our public health posed by unchecked drug trafficking.
    While President Trump gave both Canada and Mexico ample opportunity to curb the dangerous cartel activity and influx of lethal drugs flowing into our country, they have failed to adequately address the situation.
    The flow of contraband drugs like fentanyl into the United States, through illicit distribution networks, has created a national emergency, including a public health crisis.
    Mexican drug trafficking organizations, the world’s leading fentanyl traffickers, operate unhindered due to an intolerable relationship with the government of Mexico.
    The government of Mexico has afforded safe havens for the cartels to engage in the manufacturing and transportation of dangerous narcotics, which collectively have led to the overdose deaths of hundreds of thousands of American victims.
    Mexican drug cartels are known for extreme brutality, corruption, and control over entire regions of Mexico.
    The Sinaloa and Jalisco cartels manufacture fentanyl in clandestine labs they oversee in Mexico, in both powder form and pressed into fake pills, and traffic it into the United States through the many entry points they control. 97% of seizures occur at the U.S.-Mexico border.
    Cartel violence, including armed drones and roadside IEDs, are coming in closer and closer proximity to the U.S.-Mexico border as cartels are more actively targeting one another as well as Mexican military and law enforcement personnel.
    This alliance with the Mexican government endangers the national security of the United States, and we must eradicate the influence of these dangerous cartels.

    There is also a growing presence of Mexican cartels operating fentanyl and nitazene synthesis labs in Canada. 
    A recent study recognized Canada’s heightened domestic production of fentanyl, and its growing footprint within international narcotics distribution.
    Canada-based drug trafficking organizations maintain robust “super labs,” mostly in rural and dense areas in western Canada, some of which can produce 44 to 66 pounds of fentanyl weekly.
    Last year’s northern border fentanyl seizures, though smaller than Mexico’s, could kill 9.5 million Americans due to the drug’s potency—proof of Canada’s growing role in this crisis.
    Fentanyl seizures at the northern border in the first four months of this fiscal year are quickly closing in on what was seized the entirety of  fiscal year 2022.

    Both nations’ failure to arrest traffickers, seize drugs, or coordinate with U.S. law enforcement constitutes an unusual and extraordinary threat to America’s security—demanding IEEPA action to force accountability and protect American lives.
    PRESIDENT TRUMP IS KEEPING HIS PROMISE TO STOP THE FLOOD OF ILLEGAL ALIENS AND DRUGS: When voters overwhelmingly elected Donald J. Trump as President, they gave him a mandate to seal the border. That is exactly what he is doing.
    The Biden Administration’s policies fueled the worst border crisis in U.S. history.
    More than 10 million illegal aliens attempted to enter the United States under Biden’s leadership.
    This problem is not confined to the southern border—encounters at the northern border with Canada are rising as well.
    The sustained influx of illegal aliens has profound consequences on every aspect of our national life—overwhelming our schools, lowering our wages, reducing our housing supply and raising rents, overcrowding our hospitals, draining our welfare system, and causing crime.  
    Gang members, smugglers, human traffickers, and illegal drugs and narcotics of all kinds are pouring across our borders and into our communities. 
    Last fiscal year, Customs and Border Protection (CBP) apprehended more than 21,000 pounds of fentanyl at our borders, enough fentanyl to kill more than 4 billion people.
    Since 2023, the Drug Enforcement Administration (DEA) has seized more than 25,697 kilograms of fentanyl pills and more than 7,272 kilograms of fentanyl powder at the southern border, and more than 659 kilograms of fentanyl pills and more than 650 kilograms of fentanyl powder at the northern border.
    From 2021 to present, fentanyl has been the leading cause of drug overdose deaths in the U.S., followed by methamphetamine, cocaine, and heroin in that order.
    According to the CDC, 68 percent of all drug poisoning deaths in 2022 and 2023—216,294 total—were caused by synthetic opioids, primarily fentanyl.
    It is estimated that federal officials are only able to seize a fraction of the fentanyl smuggled across the southern border.  
    More Americans are dying from fentanyl overdoses each year than the number of American lives lost in the entirety of the Vietnam War.

    BUILDING ON PAST SUCCESS: President Trump continues to demonstrate his commitment to ensuring U.S. trade policy serves the national interest.
    As President Trump said in the Presidential Memorandum on American First Trade Policy, trade policy is a critical component in national security.
    President Trump promised in November to “sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders. This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”
    During his first term as President of the United States, President Trump established the President’s Commission on Combating Drug Addiction and the Opioid Crisis and declared the Opioid Crisis a public health emergency.
    President Trump also has a long record of putting America first on trade. In his first term, President Trump successfully used threats of tariffs on Mexico to help secure our border.
    When our national security was threatened by a global oversupply of steel and aluminum, President Trump took swift action to protect America’s national security by implementing tariffs on imports of these goods.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: President Lai attends opening ceremony of GCTF Workshop on Whole-of-Society Resilience Building, Preparation, and Response

    Source: Republic of China Taiwan

    Details
    2025-02-24
    President Lai meets Japanese House of Representatives Member Tamaki Yuichiro
    On the afternoon of February 24, President Lai Ching-te met with Japanese House of Representatives Member Tamaki Yuichiro. In remarks, President Lai noted that Taiwan and Japan are important trading partners. The president expressed hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones and build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. A translation of President Lai’s remarks follows: I would like to start by warmly welcoming Representative Tamaki on his first trip to Taiwan. Now is a key moment for the cooperative ties between Taiwan and Japan, and the fact that Representative Tamaki has chosen to take time out of his busy schedule to make this trip demonstrates his especially meaningful support for Taiwan. For this I want to express my deepest gratitude. At the beginning of this month, Japan and the United States held a summit meeting. In the post-summit joint leaders’ statement the government of Japan reiterated the importance of maintaining peace and stability across the Taiwan Strait, opposed any attempts to unilaterally change the status quo by force or coercion, and expressed support for Taiwan’s meaningful participation in international organizations. I would like to thank the government of Japan for these statements. Taiwan and Japan are both responsible members of the international community. I welcome an even firmer friendship between Japan and the US and hope to see cooperation among Taiwan, Japan, and the US become a solid force in consolidating peace and stability in the Indo-Pacific region. In addition to complex international conditions, we now also face the threat of China’s red supply chain. More and more countries are becoming increasingly concerned about such issues as economic security and supply chain resilience. As authoritarianism consolidates, democratic nations must also come closer in solidarity. Taiwan and Japan are important trading partners. I hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones, and that we can build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. Lastly, I would like once again to welcome Representative Tamaki to Taiwan and wish him a successful visit. I hope he departs Taiwan with a deep impression and that he will visit again. Representative Tamaki then delivered remarks, noting that this was his first visit to Taiwan and thanking President Lai and officials of the Taiwan government for their warm welcome. Pointing out that Taiwan-Japan ties are closer than ever thanks to the major efforts made on this front by President Lai since taking office, Representative Tamaki expressed his admiration and gratitude. Representative Tamaki pointed out that in a changing global landscape, Taiwan, Japan, and the Indo-Pacific region all face major changes, but he firmly believes that Taiwan-Japan relations will develop even further. Recalling President Lai’s previous remarks, the representative said that Japan and the US recently held a summit meeting that yielded important results. In the joint leaders’ statement, he noted, the two sides made a clear commitment regarding peace and stability across the Taiwan Strait and firmly opposed any attempts to unilaterally change the status quo by force or coercion. Representative Tamaki said that the ruling Liberal Democratic Party and the Komeito did not win a majority in last year’s House of Representatives general elections, while the number of seats held by his own Democratic Party for the People quadrupled. This result, he said, has filled him with a feeling of great responsibility. Moving forward, he intends to continue promoting Taiwan-Japan cooperation and strengthening relations. Also in attendance at the meeting was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-02-21
    President Lai meets Abe Akie, wife of late Prime Minister Abe Shinzo of Japan
    On the morning of February 21, President Lai Ching-te met with Abe Akie, the wife of late Prime Minister Abe Shinzo of Japan. In remarks, President Lai thanked Mrs. Abe for carrying on the legacy of former Prime Minister Abe, being a benevolent and determined force for regional peace and prosperity, and calling on all parties to continue to place attention on peace in the Taiwan Strait. The president stated that Taiwan will carry on the legacy and spirit of former President Lee Teng-hui and former Prime Minister Abe, safeguard the values of freedom and democracy, and deepen the Taiwan-Japan friendship. A translation of President Lai’s remarks follows: Last May, Mrs. Abe came to Taiwan to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao, and we reminisced about the past here at the Presidential Office. I would like to warmly welcome her back today. I am also delighted to be meeting with all guests in attendance. Yesterday, Mrs. Abe and I attended the opening of the very first Halifax Taipei forum, for which Mrs. Abe also delivered a keynote speech earlier today. In her speech, she offered valuable input on global security and democratic development. I would like to thank Mrs. Abe for making this special trip to Taiwan to take part, showing her strong support for Taiwan. Former Prime Minister Abe pioneered the vision of a free and open Indo-Pacific, and called on the international community to pay attention to peace and stability in the Taiwan Strait and Indo-Pacific. These have become common strategic goals of democratic countries around the world and will have a far-reaching influence over international developments and Taiwan’s security. They were important contributions that former Prime Minister Abe made in regard to the Taiwan Strait and the Indo-Pacific region. Recently, current Prime Minister of Japan Ishiba Shigeru and United States President Donald Trump held a meeting and jointly reiterated the importance of peace and stability across the Taiwan Strait, as well as opposed unilateral changes to the status quo by force or coercion. They also expressed support for Taiwan’s participation in international organizations. This shows that Prime Minister Ishiba is furthering the legacy of former Prime Minister Abe. We are very grateful for the former prime minister’s friendship toward Taiwan, and to Mrs. Abe for carrying on his legacy. Mrs. Abe is a benevolent and determined force for regional peace and prosperity, and has called on all parties at numerous public venues to continue to place attention on peace in the Taiwan Strait. Last December, for instance, she traveled at the invitation of President Trump and his wife to the US, where she addressed cross-strait issues and spoke up for Taiwan. We were deeply moved by this. As authoritarian states continue to expand, Taiwan will keep working alongside like-minded nations such as Japan and the US, as well as the European Union, to jointly contribute to regional and global peace and prosperity. I look forward to continued advancement of regional peace and prosperity with the help of Mrs. Abe’s efforts. Mrs. Abe will also be meeting with daughter of former President Lee and Lee Teng-hui Foundation Chairperson Annie Lee (李安妮) tomorrow. Former President Lee and former Prime Minister Abe were both fully devoted to promoting Taiwan-Japan relations. We will carry on their legacy and spirit, safeguard the values of freedom and democracy, and deepen the Taiwan-Japan friendship. In closing, I wish you all a smooth and successful visit. Mrs. Abe then delivered remarks, first expressing her sincere thanks to President Lai for taking the time to meet. She said that former Prime Minister Abe hailed from Yamaguchi Prefecture, and that accompanying her that day were House of Councillors Member Kitamura Tsuneo, Yamaguchi Prefecture Governor Muraoka Tsugumasa, Yamaguchi Prefectural Assembly Deputy Speaker Shimata Noriaki, and many other important figures from Yamaguchi. If former Prime Minister Abe’s spirit could look upon this scene, she said, he would certainly be very pleased. Mrs. Abe recalled that when the former prime minister passed away, then-Vice President Lai traveled to their official residence to express his condolences and pay tribute. She said that she will never forget such a gesture of deep friendship, heartfelt condolences, and care. The year before last, she indicated, a memorial photo exhibition for former Prime Minister Abe was held in Taiwan, and many Taiwanese people from all walks of life came to view it. Last year, Mrs. Abe continued, she had the privilege of attending President Lai’s inauguration ceremony, where she met with many friends from Taiwan and personally felt the close and beautiful ties that Taiwan and Japan share. Mrs. Abe stated that she will carry out the wishes of former Prime Minister Abe and do her utmost to help raise Taiwan-Japan relations to new heights, saying that she looks forward to hearing the advice that President Lai and all those present have to offer. The delegation also included Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-02-20
    President Lai attends opening of 2025 Halifax Taipei forum
    On the afternoon of February 20, President Lai Ching-te attended the opening of the 2025 Halifax Taipei forum. In remarks, President Lai thanked the Halifax International Security Forum for their strong support for Taiwan, and for having chosen Taiwan as the first location outside North America to hold a forum. Noting that we face a complex global landscape, the president called on the international community to take action. He said that as authoritarianism consolidates, democratic nations must also come closer in solidarity, and called on the international community to create non-red global supply chains, as well as unite to usher in peace. President Lai emphasized that Taiwan will work toward maintaining peace and stability in the Taiwan Strait, and collaborate with democratic partners to form a global alliance for the AI chip industry and together greet a bright, new era. A transcript of President Lai’s remarks follows: To begin, I want to give a warm welcome to all the distinguished guests here at the very first Halifax Taipei forum. The Halifax International Security Forum, held every year in Canada, has been an important gathering for freedom-loving nations worldwide. I would like to thank Halifax and President [Peter] Van Praagh for their strong support for Taiwan. Every year since 2018, Taiwan has been invited to participate in the forum. Last year, former President Tsai Ing-wen was invited to speak, and this year, Halifax has chosen Taiwan as the first location outside North America to hold a forum. As President Van Praagh has said, “While the security challenges ahead are too big for any single country to solve alone, there is no challenge that can’t be met when the world’s democracies work together.” Today, we have world leaders and experts who traveled from afar to be here, showing that they value and support Taiwan. It demonstrates solidarity among democracies and the determination to take on challenges as one. I would like to express my gratitude and admiration to all of you for serving as defenders of freedom. At this very moment, Russia’s invasion of Ukraine is still ongoing. Authoritarian regimes including China, Russia, North Korea, and Iran continue to consolidate. China is hurting economies around the world through its dumping practices. We face grave challenges to global economic order, democracy, freedom, peace, and stability. Taiwan holds a key position on the first island chain, directly facing an authoritarian threat. But we will not be intimidated. We will stand firm and safeguard our national sovereignty, maintain our free and democratic way of life, and uphold peace and stability across the Taiwan Strait. Taiwan cherishes peace, but we also have no delusions about peace. We will uphold the spirit of peace through strength, using concrete actions to build a stronger Taiwan and bolster the free and democratic community. I sincerely thank the international community for continuing to attach importance to the situation in the Taiwan Strait. Recently, US President Donald Trump and Japan’s Prime Minister Ishiba Shigeru issued a joint leaders’ statement expressing their firm support for peace and stability across the Taiwan Strait, and for Taiwan’s participation in international affairs. As we face a complex global landscape, I call on the international community to take the following actions: First, as authoritarianism consolidates, democratic nations must also come closer in solidarity. Just a few days ago, the top diplomats of the US, Japan, and South Korea held talks, underlining the importance of maintaining peace and stability across the Taiwan Strait. They also conveyed their stance against “any effort to destabilize democratic institutions, economic independence, and global security.” On these issues, Taiwan will also continue to contribute its utmost. I recently announced that we will prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP.  Soon after I assumed office last year, I formed the Whole-of-Society Defense Resilience Committee at the Presidential Office. This committee aims to combine the strengths of government and civil society to enhance our resilience in national defense, economic livelihoods, disaster prevention, and democracy. We will also deepen our strategic partnerships in the democratic community to mutually increase defense resilience, demonstrate deterrence, and achieve our goal of peace throughout the world. Second, let’s create non-red global supply chains.  For the democratic community to deter the expansion of authoritarianism, it must have strong technological capabilities. These can serve as the backbone of national defense, promote industrial development, and enhance economic resilience. So, in addressing China’s red supply chain and the impact of its dumping, Taiwan is willing and able to work with global democracies to maintain the technological strengths among our partners and build resilient non-red supply chains. As a major semiconductor manufacturing nation, Taiwan will introduce an initiative on semiconductor supply chain partnerships for global democracies. We will collaborate with our democratic partners to form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. The achievements of today’s semiconductor industry in Taiwan can be attributed to our collective efforts. Government, industry, academia, and research institutions had to overcome various challenges over the last 50 years for us to secure this position.  We hope Taiwan can serve as a base for linking the capabilities of our democratic partners so that each can play a suitable role in the semiconductor industry chain and develop its own strengths, deepening our mutually beneficial cooperation in technology. This benefits all of us. Moreover, it allows us to further enhance deterrence and maintain global security. Third, let’s unite to usher in peace. China has not stopped intimidating Taiwan politically and militarily. Last year, China launched several large-scale military exercises in the Taiwan Strait. Its escalation of gray-zone aggression now poses a grave threat to the peace and stability of the Indo-Pacific region. As a responsible member of the international community, Taiwan will maintain the status quo. We will not seek conflict. Rather, we are willing to engage in dialogue with China, under the principles of parity and dignity, and work toward maintaining peace and stability in the Taiwan Strait. As the agenda of this forum suggests, democracy and freedom create more than just opportunities; they also bring resilience, justice, partnerships, and security. Taiwan will continue working alongside its democratic partners to greet a bright, new era. Once again, a warm welcome to all of you. I wish this forum every success. Thank you. Also in attendance at the event were Mrs. Abe Akie, wife of the late former Prime Minister Abe Shinzo of Japan, and Halifax International Security Forum President Van Praagh.

    Details
    2025-02-18
    President Lai meets British-Taiwanese All-Party Parliamentary Group delegation
    On the morning of February 18, President Lai Ching-te met with a delegation from the British-Taiwanese All-Party Parliamentary Group (APPG). In remarks, President Lai thanked the delegation members, the Parliament of the United Kingdom, and the UK government for continuing to demonstrate support for Taiwan through a variety of means. He also stated that Taiwan-UK relations have advanced significantly in recent years, noting that the Taiwan-UK Enhanced Trade Partnership (ETP) is the first institutionalized economic and trade framework signed between Taiwan and any European country. The president said he looks forward to continuing to deepen Taiwan-UK relations and jointly maintaining regional and global peace and stability, and indicated that together, we can create win-win developments for both Taiwan and the UK and Taiwan and European nations. A translation of President Lai’s remarks follows: This is the first UK parliamentary delegation of the current session to visit Taiwan. On behalf of the people of Taiwan, I extend my sincerest welcome to you all. APPG Chair Sarah Champion visited Taiwan last May to attend the inauguration ceremony of myself and Vice President Bi-khim Hsiao. In July, she also attended the annual summit of the Inter-Parliamentary Alliance on China (IPAC), which was held in Taipei. I am delighted that we are meeting once again. Taiwan-UK relations have advanced significantly in recent years. I would especially like to thank our distinguished guests, as well as the UK Parliament and government, for continuing to demonstrate support for Taiwan through a variety of means. For example, the House of Commons held a debate on Taiwan’s international status last November. After the debate, a motion was unanimously passed affirming that United Nations General Assembly (UNGA) Resolution 2758 does not mention Taiwan. Responding to the motion, Parliamentary Under-Secretary of State Catherine West stated that the UK opposes any attempt to broaden the interpretation of the resolution to rewrite history. This highlighted concrete progress in Taiwan-UK bilateral relations. I would also like to thank the UK Parliament and government for openly opposing on multiple occasions any unilateral change to the status quo across the Taiwan Strait, and for emphasizing that the security of the Indo-Pacific and transatlantic regions is closely intertwined. We look forward to continuing to deepen Taiwan-UK relations and jointly maintaining regional and global peace and stability. Together, we can create win-win developments for both Taiwan and the UK and Taiwan and European nations. For example, the Taiwan-UK ETP is the first institutionalized economic and trade framework signed between Taiwan and any European country. We hope to swiftly conclude negotiations on signing sub-arrangements on investment, digital trade, and energy and net-zero transition. This will facilitate even more exchanges and cooperation between Taiwan and the UK. We also hope that the UK will continue to support Taiwan’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Together, we can build even more resilient global supply chains and further contribute to global prosperity and development. I believe that this visit adds to a strong and solid foundation for future Taiwan-UK cooperation. Thank you once again for backing Taiwan. I wish you a fruitful and successful visit. Chair Champion then delivered remarks, thanking President Lai for his warm welcome and for the hospitality he has shown to her and the delegation, and thanking Taiwan’s excellent team of officials for their care and attention. Chair Champion expressed that she thinks the IPAC conference held in Taiwan at the end of July last year was very significant, with legislators from 23 countries coming to show support for Taiwan, adding that that is something they have built on since the conference. She stated that she is also very proud that the UK Parliament supported the motion which made very clear that UNGA Resolution 2758 is specific to China and only to China, expressing that it was important and powerful that they recognize that. The chair went on to say that after the UK’s general election, more than half of the members of parliament are now new. She said she is very proud that there are new MPs as part of the delegation, and that she hopes it gives President Lai reassurance that their commitment to Taiwan is still there.  Chair Champion emphasized that the all-party group is important because it is indeed all-party, and that they work together for their common interests, stating that the common interest for the UK and for the world is to maintain Taiwan’s sovereignty. She also noted that the United States has now come out very much in support of Taiwan, which she said she hopes encourages other countries around the world to do the same. Chair Champion said that the UK will be going into the 27th trade negotiation with Taiwan, and that they hope the partnership that develops is very fruitful. The chair closed by saying that it is wonderful for the delegation to be meeting President Lai, as well as legislators and ministers, and to be understanding more about the culture of Taiwan so that they can build a deeper, longer-lasting friendship. The delegation also included Lord Purvis of Tweed of the House of Lords and Members of Parliament Ben Spencer, Helena Dollimore, Noah Law, and David Reed. The delegation was accompanied to the Presidential Office by Political and Communications Director at the British Office in Taipei Natasha Harrington.  

    Details
    2025-02-17
    President Lai meets former United States Deputy National Security Advisor Matthew Pottinger
    On the morning of February 17, President Lai Ching-te met with a delegation led by former United States Deputy National Security Advisor Matthew Pottinger. In remarks, President Lai thanked the delegation for demonstrating staunch support for Taiwan through their visit. The president pointed out that increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. He emphasized that only by bolstering our defense capabilities can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. The president stated that moving forward, Taiwan will continue to enhance its self-defense capabilities. He also expressed hope of strengthening the Taiwan-US partnership and jointly building secure and resilient non-red supply chains so as to ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. A translation of President Lai’s remarks follows: I am delighted to welcome our good friends Mr. Pottinger and retired US Rear Admiral Mr. Mark Montgomery to Taiwan once again. Last June, Mr. Pottinger and Mr. Ivan Kanapathy came to Taiwan to launch their new book The Boiling Moat. During that visit, they also visited the Presidential Office. We held an extensive exchange of views on Taiwan-US relations and regional affairs right here in the Taiwan Heritage Room. Now, as we meet again eight months later, I am pleased to learn that Mr. Kanapathy is now serving on the White House National Security Council. The Mandarin translation of The Boiling Moat is also due to be released in Taiwan very soon. This book offers insightful observations from US experts regarding US-China-Taiwan relations and valuable advice for the strengthening of Taiwan’s national defense, security, and overall resilience. I am sure that Taiwanese readers will benefit greatly from it. I understand that this is Mr. Montgomery’s fourth visit to Taiwan and that he has long paid close attention to Taiwan-related issues. I look forward to an in-depth discussion with our two friends on the future direction of Taiwan-US relations and cooperation. Increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. One notion we all share is peace through strength. That is, only by bolstering our defense capabilities and fortifying our defenses can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. Moving forward, Taiwan will continue to enhance its self-defense capabilities. We also hope to strengthen the Taiwan-US partnership in such fields as security, trade and the economy, and energy. In addition, we will advance cooperation in critical and innovative technologies and jointly build secure and resilient non-red supply chains. This will ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. We believe that closer Taiwan-US exchanges and cooperation not only benefit national security and development but also align with the common economic interests of Taiwan and the US. I want to thank Mr. Pottinger and Mr. Montgomery once again for visiting and for continuing to advance Taiwan-US exchanges, demonstrating staunch support for Taiwan. Let us continue to work together to deepen Taiwan-US relations. I wish you a smooth and fruitful visit.  Mr. Pottinger then delivered remarks, first congratulating President Lai on his one-year election anniversary and on the state of the economy, which, he added, is doing quite well. Mentioning President Lai’s recent statement pledging to increase Taiwan’s defense budget to above 3 percent of GDP, Mr. Pottinger said he thinks that the benchmark is equal to what the US spends on its defense and that it is a good starting point for both countries to build deterrence. Echoing the president’s earlier remarks, Mr. Pottinger said that peace through strength is the right path for the US and for Taiwan right now at a moment when autocratic, aggressive governments are on the march. He then paraphrased the words of former US President George Washington in his first inaugural address, saying that the best way to keep the peace is to be prepared at all times for war, which captures the meaning of peace through strength. In closing, he said he looks forward to exchanging views with President Lai.

    Details
    2025-02-14
    President Lai holds press conference following high-level national security meeting
    On the morning of February 14, President Lai Ching-te convened the first high-level national security meeting of the year, following which he held a press conference. In remarks, President Lai announced that in this new year, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. He stated that the government will also continue to reform national defense, reform our legal framework for national security, and advance our economic and trade strategy of being rooted in Taiwan while expanding globally. The president also proposed clear-cut national strategies for Taiwan-US relations, semiconductor industry development, and cross-strait relations. President Lai indicated that he instructed the national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches outlined. He also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. He expressed hope that as long as citizens remain steadfast in their convictions, are willing to work hand in hand, stand firm amidst uncertainty, and look for ways to win within changing circumstances, Taiwan is certain to prevail in the test of time yet again. A translation of President Lai’s remarks follows: First, I would like to convey my condolences for the tragic incident which occurred at the Shin Kong Mitsukoshi department store in Taichung, which resulted in numerous casualties. I have instructed Premier Cho Jung-tai (卓榮泰) to lead the relevant central government agencies in assisting Taichung’s municipal government with actively resolving various issues regarding the incident. It is my hope that these issues can be resolved efficiently. Earlier today, I convened this year’s first high-level national security meeting. I will now report on the discussions from the meeting to all citizens. 2025 is a year full of challenges, but also a year full of hope. In today’s global landscape, the democratic world faces common threats posed by the convergence of authoritarian regimes, while dumping and unfair competition from China undermine the global economic order. A new United States administration was formed at the beginning of the year, adopting all-new strategies and policies to address challenges both domestic and from overseas. Every nation worldwide, including ours, is facing a new phase of changes and challenges. In face of such changes, ensuring national security, ensuring Taiwan’s indispensability in global supply chains, and ensuring that our nation continues to make progress amidst challenges are our top priorities this year. They are also why we convened a high-level national security meeting today. At the meeting, the national security team, the administrative team led by Premier Cho, and I held an in-depth discussion based on the overall state of affairs at home and abroad and the strategies the teams had prepared in response. We summed up the following points as an overall strategy for the next stage of advancing national security and development. First, for overall national security, so that we can ensure the freedom, democracy, and human rights of the Taiwanese people, as well as the progress and development of the nation as we face various threats from authoritarian regimes, Taiwan must resolutely safeguard national sovereignty, strengthen self-sufficiency in national defense, and consolidate national defense. Taiwan must enhance economic resilience, maintain economic autonomy, and stand firm with other democracies as we deepen our strategic partnerships with like-minded countries. As I have said, “As authoritarianism consolidates, democratic nations must come closer in solidarity!” And so, in this new year, we will focus on the following three priorities: First, to demonstrate our resolve for national defense, we will continue to reform national defense, implement whole-of-society defense resilience, and prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. Second, to counter the threats to our national security from China’s united front tactics, attempts at infiltration, and cognitive warfare, we will continue with the reform of our legal framework for national security and expand the national security framework to boost societal resilience and foster unity within. Third, to seize opportunities in the restructuring of global supply chains and realignment of the economic order, we will continue advancing our economic and trade strategy of being rooted in Taiwan while expanding globally, strengthening protections for high-tech, and collaborating with our friends and allies to build supply chains for global democracies. Everyone shares concern regarding Taiwan-US relations, semiconductor industry development, and cross-strait relations. For these issues, I am proposing clear-cut national strategies. First, I will touch on Taiwan-US relations. Taiwan and the US have shared ideals and values, and are staunch partners within the democratic, free community. We are very grateful to President Donald Trump’s administration for their continued support for Taiwan after taking office. We are especially grateful for the US and Japan’s joint leaders’ statement reiterating “the importance of maintaining peace and stability across the Taiwan Strait as an indispensable element of security and prosperity for the international community,” as well as their high level of concern regarding China’s threat to regional security. In fact, the Democratic Progressive Party government has worked very closely with President Trump ever since his first term in office, and has remained an international partner. The procurement of numerous key advanced arms, freedom of navigation critical for security and stability in the Taiwan Strait, and many assisted breakthroughs in international diplomacy were made possible during this time. Positioned in the first island chain and on the democratic world’s frontline countering authoritarianism, Taiwan is willing and will continue to work with the US at all levels as we pursue regional stability and prosperity, helping realize our vision of a free and open Indo-Pacific. Although changes in policy may occur these next few years, the mutual trust and close cooperation between Taiwan and Washington will steadfastly endure. On that, our citizens can rest assured. In accordance with the Taiwan Relations Act and the Six Assurances, the US announced a total of 48 military sales to Taiwan over the past eight years amounting to US$26.265 billion. During President Trump’s first term, 22 sales were announced totaling US$18.763 billion. This greatly supported Taiwan’s defensive capabilities. On the foundation of our close cooperation with the past eight years’ two US administrations, Taiwan will continue to demonstrate our determination for self-defense, accelerate the bolstering of our national defense, and keep enhancing the depth and breadth of Taiwan-US security cooperation, along with all manner of institutional cooperation. In terms of bilateral economic cooperation, Taiwan has always been one of the US’s most reliable trade partners, as well as one of the most important cooperative partners of US companies in the global semiconductor industry. In the past few years, Taiwan has greatly increased both direct and indirect investment in the US. By 2024, investment surpassed US$100 billion, creating nearly 400,000 job opportunities. In 2023 and 2024, investment in the US accounted for over 40 percent of Taiwan’s overall foreign investment, far surpassing our investment in China. In fact, in 2023 and 2024, Taiwanese investment in China fell to 11 percent and 8 percent, respectively. The US is now Taiwan’s biggest investment target. Our government is now launching relevant plans in accordance with national development needs and the need to establish secure supply systems, and the Executive Yuan is taking comprehensive inventory of opportunities for Taiwan-US economic and trade cooperation. Moving forward, close bilateral cooperation will allow us to expand US investment and procurement, facilitating balanced trade. Our government will also strengthen guidance and support for Taiwanese enterprises on increasing US investment, and promote the global expansion and growth of Taiwan’s industries. We will also boost Taiwan-US cooperation in tech development and manufacturing for AI and advanced semiconductors, and work together to maintain order in the semiconductor market, shaping a new era for our strategic economic partnership. Second, the development of our semiconductor industry. I want to emphasize that Taiwan, as one of the world’s most capable semiconductor manufacturing nations, is both willing and able to address new situations. With respect to President Trump’s concerns about our semiconductor industry, the government will act prudently, strengthen communications between Taiwan and the US, and promote greater mutual understanding. We will pay attention to the challenges arising from the situation and assist businesses in navigating them. In addition, we will introduce an initiative on semiconductor supply chain partnerships for global democracies. We are willing to collaborate with the US and our other democratic partners to develop more resilient and diversified semiconductor supply chains. Leveraging our strengths in cutting-edge semiconductors, we will form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. Through international cooperation, we will open up an entirely new era of growth in the semiconductor industry. As we face the various new policies of the Trump administration, we will continue to uphold a spirit of mutual benefit, and we will continue to communicate and negotiate closely with the US government. This will help the new administration’s team to better understand how Taiwan is an indispensable partner in the process of rebuilding American manufacturing and consolidating its leadership in high-tech, and that Taiwan-US cooperation will benefit us both. Third, cross-strait relations. Regarding the regional and cross-strait situation, Taiwan-US relations, US-China relations, and interactions among Taiwan, the US, and China are a focus of global attention. As a member of the international democratic community and a responsible member of the region, Taiwan hopes to see Taiwan-US relations continue to strengthen and, alongside US-China relations, form a virtuous cycle rather than a zero-sum game where one side’s gain is another side’s loss. In facing China, Taiwan will always be a responsible actor. We will neither yield nor provoke. We will remain resilient and composed, maintaining our consistent position on cross-strait relations: Our determination to safeguard our national sovereignty and protect our free and democratic way of life remains unchanged. Our efforts to maintain peace and stability in the Taiwan Strait, as well as our willingness to work alongside China in the pursuit of peace and mutual prosperity across the strait, remain unchanged. Our commitment to promoting healthy and orderly exchanges across the strait, choosing dialogue over confrontation, and advancing well-being for the peoples on both sides of the strait, under the principles of parity and dignity, remains unchanged. Regarding the matters I reported to the public today, I have instructed our national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches I just outlined. I have also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. My fellow citizens, over the past several years, Taiwan has weathered a global pandemic and faced global challenges, both political and economic, arising from the US-China trade war and Russia’s invasion of Ukraine. Through it all, Taiwan has persevered; we have continued to develop our economy, bolster our national strength, and raise our international profile while garnering more support – all unprecedented achievements. This is all because Taiwan’s fate has never been decided by the external environment, but by the unity of the Taiwanese people and the resolve to never give up. A one-of-a-kind global situation is creating new strategic opportunities for our one-of-a-kind Taiwanese people, bringing new hope. Taiwan’s foundation is solid; its strength is great. So as long as everyone remains steadfast in their convictions, is willing to work hand in hand, stands firm amidst uncertainty, and looks for ways to win within changing circumstances, Taiwan is certain to prevail in the test of our time yet again, for I am confident that there are no difficulties that Taiwan cannot overcome. Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI Canada: Government of Yukon announces $4.96 million increase to the Comprehensive Municipal Grant

    Government of Yukon announces $4.96 million increase to the Comprehensive Municipal Grant
    jlutz

    The Government of Yukon knows that municipalities need sustainable, predictable funding to deliver services to their residents. Following a review by the joint Government of Yukon and Association of Yukon Communities (AYC) Comprehensive Municipal Grant (CMG) Enhancement Task Force, the Government of Yukon will be increasing the Comprehensive Municipal Grant by $4.96 million through Budget 2025–26, subject to legislative approval.

    The update will take effect on April 1, 2025, with a total of $29.5 million being transferred to municipalities. This is the largest single increase in municipal funding since the CMG was created in 1991. Updates to the CMG in 2025 also ensure that funding to individual municipalities will not decrease from 2024 funding levels.

    The CMG is the Government of Yukon’s primary mechanism for directly funding municipal governments. This essential funding supports core municipal services, including clean drinking water, solid waste and recycling collection, recreation programming and other services required under the Municipal Act and related legislation. With no conditions attached, the grant provides municipalities with the flexibility to balance budgets and eases the financial burden on local taxpayers.

    In addition to municipal revenues such as property taxes, user fees and other municipal revenue sources, municipalities have access to additional funds through federal and Government of Yukon funding programs.

    In addition to the increased CMG, the Government of Yukon is also providing the AYC with up to $88,000 in annual funding – also subject to legislative approval – for the Community Training Trust Society. This program was established in 1993 and helps to build staff capacity within municipal and Yukon First Nations governments by paying for staff to pursue professional development and training opportunities.

    MIL OSI Canada News

  • MIL-OSI Canada: Statement from Minister McPhee on Nutrition Month

    Minister of Health and Social Services Tracy-Anne McPhee has issued the following statement:

    “March is Nutrition Month, an important time to highlight the many ways food nourishes us physically, mentally, emotionally and socially. This year’s theme, Nourish to Flourish, reminds us that food is more than just fuel; it is a cornerstone of community, culture and overall wellbeing. The choices we make about food impact our health, but they also shape our relationships, traditions and sense of belonging.

    “This year, we celebrate the role of food in strengthening social connections and empowering communities to thrive. Food literacy plays a crucial role in helping individuals make informed choices that support not just their physical health, but also their mental and emotional wellbeing. In the Yukon, we are committed to ensuring that all residents have access to the knowledge, skills and resources they need to develop a positive relationship with food and to create nourishing environments for themselves and their families.

    “In pursuit of our commitment to a healthier Yukon, the government, through the Health Promotion Unit, is actively working with Yukon communities and partners to support equitable access to food literacy initiatives. Through the Yukon Northern Wellness Project, funded by the Public Health Agency of Canada and Government of Yukon, we have supported local food literacy efforts across the territory. This fiscal year alone, 17 projects have been funded through food literacy grants, building on the 22 projects funded in 2023–24, which reached over 300 Yukoners, including 200 individuals from rural areas. We also continue to invest in school food programs, providing $208,000 during the 2024–25 fiscal year to support the Yukon Food for Learning Association.

    “Yukoners can access a variety of resources through Canada’s Food Guide and Health Canada’s nutrition recommendations, which offer practical advice on healthy eating. The Dietitians of Canada provide reliable, science-based guidance and tools like Cookspiration help with meal planning and healthy recipe ideas.

    “Traditional foods also play an important role in nutrition and wellbeing. Harvesting and consuming traditional foods not only supports physical health but also strengthens cultural connections. Families can engage children in learning about traditional foods through fun activities like the Traditional Foods Colouring Book.

    “This Nutrition Month, I encourage all Yukoners to explore the available resources and embrace food as a tool for nourishment, connection and wellbeing. When we make informed, mindful choices about food, we empower ourselves, strengthen our communities and create a healthier future for all.”

    MIL OSI Canada News

  • MIL-OSI Canada: Government of Yukon continues planning for a new school in downtown Whitehorse

    Government of Yukon continues planning for a new school in downtown Whitehorse
    jlutz

    The Government of Yukon is advancing plans for a new school in downtown Whitehorse.

    As part of the Government of Yukon’s work to modernize educational facilities across the territory, École Whitehorse Elementary is being relocated to the Takhini Land Reserve, where a new modern facility can be built to support French-language learners. The new facility will provide students with an upgraded learning environment, while ensuring continued access to quality education.

    As part of this work, the Government of Yukon has heard from downtown Whitehorse residents about the importance of having a school in their neighbourhood. Building off findings from the October 2023 report, What We Heard: Whitehorse Schools Capital Planning Public Engagement, the Department of Education has been meeting with the City of Whitehorse, Kwanlin Dün First Nation, Ta’an Kwäch’än Council and downtown commercial property owners to discuss potential opportunities for a new school in downtown Whitehorse.

    Additional engagement is planned with the downtown residents’ association, school councils in Riverdale and downtown, school boards and education stakeholders to gather information to evaluate educational, spatial and community needs for a potential new school.

    The Government of Yukon believes that downtown residents need to be involved in shaping the future of downtown. For this reason, the Government of Yukon has allocated $50,000 in Budget 2025–26 – subject to legislative approval – for the first round of public engagement about a school in downtown Whitehorse, starting in late spring 2025.

    This engagement will focus on understanding the community’s educational needs, identifying potential locations and sharing key findings from stakeholder meetings and demographic trends.

    MIL OSI Canada News

  • MIL-OSI Canada: Government of Yukon releases second progress update on Auditor General of Canada’s 2022 housing recommendations

    Government of Yukon releases second progress update on Auditor General of Canada’s 2022 housing recommendations
    zaburke

    The Government of Yukon has released its latest progress update on efforts to address the recommendations from the 2022 Auditor General’s report on housing needs for the Yukon’s most vulnerable residents.

    Since December 2022, the Government of Yukon has worked with partners to advance the actions outlined in the work plan. This plan focuses on creating sustainable, community-focused housing solutions guided by data and strengthened through partnerships. 

    Key advancements in 2024 include:

    • implementing standardized housing needs assessments;
    • improving coordination of housing access;
    • enhancing data sharing; and
    • aligning funding resources with community priorities.

    As of December 2024, the work plan includes 33 actions, 16 have been completed and 17 are underway. These actions are part of the Government of Yukon’s long-term strategy to drive meaningful change and align with broader strategies, such as the recommendations and the strategic plan. The Government of Yukon is committed to providing Yukoners with stable, affordable, quality housing and helping ensure the right supports are in place so all Yukoners can have a safe and accessible place to call home.

    Backgrounder

    Since the launch of the 36-action work plan in December 2022 the following actions have been updated.

    • Removed Action 31.3 because five-year evaluations of the social housing program are no longer required by Canada Mortgage and Housing Corporation.
    • Combined actions 90.1 and 90.2 to create a new action to focus on measuring and evaluating program performance, including social housing.
    • Combined Actions 40.1 and 40.5 to clarify how data integration, community needs assessments and financial and capital considerations will be utilized. These actions are also reflected in the Creating Home strategy through enhancing operational performance, comprehensive management of Yukon Housing Corporation’s housing portfolio and collectively addressing housing challenges. 
    • Revised action 87.4 to enhance clarity and better align with ongoing work required to address the findings from the Auditor General’s 2022 report on Yukon housing. 
       

    Related information:

    Get updates on the response to the Auditor General’s 2022 report on Yukon housi…

    Memorandum of Understanding: Yukon Housing Corporation and Department of Health…

    Government of Yukon in partnership with Safe at Home Society will open a new su…

    New housing funding supports Yukoners facing gender-based violence

    MIL OSI Canada News

  • MIL-OSI Canada: Main runway at Erik Nielsen Whitehorse International Airport scheduled for completion in 2025

    Main runway at Erik Nielsen Whitehorse International Airport scheduled for completion in 2025
    zaburke

    Subject to legislative approval, the Government of Yukon is investing $7.5 million as part of Budget 202526 to complete the final phase of the Erik Nielsen Whitehorse International Airport main runway reconstruction. This critical investment will ensure long-term reliability and safety at one of the territory’s most vital transportation hubs.

    The multi-year runway reconstruction project began in summer 2023 and has remained on schedule. The final phase of work is scheduled to begin in spring 2025, with completion expected in fall 2025. This year, crews will reconstruct the south half of the main runway, following the successful reconstruction of the north half in 2024.

    Careful planning and mitigation efforts have minimized disruptions throughout construction, allowing the airport to continue operating efficiently. Runway reconstruction has supported an increase in passenger traffic at Erik Nielsen Whitehorse International Airport, which increased 22.5 per cent in 2024 compared to 2023. This surpassed the pre-pandemic peak of 2019 by 7.7 per cent and marked a record year of arrivals.

    In addition, planning work is underway for the airport maintenance facility replacement, which is critical to the airport’s operation. The new facility is proposed for the east side of the airport, optimizing space for commercial aviation operators. This year, construction will focus on upgrading utilities to support future development in the airport’s east section.

    The Erik Nielsen Whitehorse International Airport is essential to Yukoners’ way of life. Not only does it keep communities connected, it also provides critical support for medical services, helps ensure the delivery of goods and services, empowers tourism and contributes to Arctic security efforts.

    In addition to runway reconstruction, other recent airport upgrades that have benefitted passengers include the opening of a new airport restaurant, in partnership with Air North, Yukon’s Airline and new signage acknowledging the Traditional Territories of the Ta’an Kwäch’än Council and Kwanlin Dün First Nation.

    MIL OSI Canada News

  • MIL-Evening Report: The US and UK have decimated their aid spending. Australia has a unique opportunity to help fill the vacuum

    Source: The Conversation (Au and NZ) – By Melissa Conley Tyler, Honorary Fellow, Asia Institute, The University of Melbourne

    Hard on the heels of Donald Trump’s dismantling of USAID, the United Kingdom has ripped more than A$12 billion (£6 billion) from its foreign assistance budget.

    The double hit from two of the globe’s biggest contributors to international development has been branded a betrayal of poorer countries that will cost lives.

    What does this mean for Australia as we head towards the federal election?

    Australia is different

    Australia’s aid context is strikingly different.

    International development is deeply integrated in the Department of Foreign Affairs and Trade (DFAT) and can’t easily be pulled apart. There is no separate aid agency to target.

    Recent experience also reminds us why it is unwise to cut overseas assistance. When the Abbott government made major cuts to development spending, other actors including China quickly filled the vacuum throughout the Pacific.

    Most importantly, more than 20 of Australia’s regional neighbours are developing countries. This means an adequate overseas aid budget is non-negotiable if we want to exert influence throughout the region.

    At a minimum, both the Labor Party and the Coalition should commit to maintaining current levels of development assistance.

    If you want to see how every dollar of Australia’s overseas aid is being spent, you can visit the transparency portal on the DFAT website. The portal outlines each investment, which includes peace building in Sri Lanka, countering people trafficking in Vietnam, preventing foot and mouth disease in Indonesia, and disaster preparedness across the Pacific.

    This is cost-effective spending: dealing with the aftermath of a crisis is massively more expensive than the relatively small outlays needed to prevent them from happening in the first place. By way of contrast, the budget for defence is $48 billion each year compared to less than $5 billion for preventive spending on development.

    New opportunities

    Initial reaction to the severe foreign aid cuts focused on how China and Russia could benefit from the void left by Washington and London. But it is now being recognised that their shortsightedness may provide a golden geopolitical opportunity for Australia.

    It is an opportunity that could be seized upon by whoever wins the election.

    Think back to the Boxing Day tsunami, when John Howard’s response transformed the relationship with Indonesia and led to the formation of the Quad grouping.

    When the US withdrew from the Trans-Pacific Partnership Agreement in 2017, Japan stepped up and showed the leadership needed to conclude negotiations. With Australia’s support, the deal went ahead and is now one of the largest free-trade agreements in the world. Major achievements can still be made even without the involvement of the US.

    We are now faced with a similar moment. While Australia cannot compete with the scale of US and UK international development, there is much it can do across the region and throughout the broader global system.

    What Australia can do

    If Australia was to think big, it would announce that it will elevate funding for overseas aid from its current level of 0.68% of the federal budget to 1% over the next two to three years.

    This would generate positive worldwide coverage and differentiate Australia for a relatively small investment. John Howard, Kevin Rudd and Julia Gillard were all able to keep the international development budget at more than 1%, so it’s not impossible.

    There is a perception that a much larger slice of the budget pie currently goes to development assistance. The average Australian believes we spend 14% of the budget helping out our neighbours. In reality the outlay is less than 70 cents per $100.

    Even a smaller increase for emergency funding could be very meaningful. The impact of the US 90-day pause on foreign assistance has been immediate, with charities and contractors left with no income and forced to let staff go and shutter offices. There is a real risk some international aid charities won’t survive the freeze. Emergency funding is needed to stave off collapse and stop the loss of specialist skills.

    At the global level, Australia could help to maintain the essential humanitarian work of organisations like the World Food Programme, UNAIDS, UNHCR and the World Health Organisation, which may face existential funding crises.

    Australia’s national interest

    Australia’s security, stability and prosperity depend on both the region and cultivating wider relationships.

    We could use this moment to partner with critical countries in the Pacific and South East Asia to preserve the programs most at risk. Australia could also build deeper relationships with other donors like Japan, South Korea, India, Indonesia, Canada, and EU members and institutions.

    There are many competing priorities in the budget process, so foreign aid is never an easy sell. But there will be international praise for Australian leadership, including from the US and the UK, if Australian aid helps maintain Western presence in key geopolitical arenas. It would be a diplomatic win and very much in Australia’s interest.

    Now is the time for Australia to announce the steps it will take to preserve and even increase development aid as one of the key tools of statecraft to create a world that Australians want to live in.

    Melissa Conley Tyler is Executive Director at the Asia-Pacific Development, Diplomacy & Defence Dialogue (AP4D), an initiative funded by the foreign affairs and defence portfolios and hosted by the Australian Council for International Development..

    ref. The US and UK have decimated their aid spending. Australia has a unique opportunity to help fill the vacuum – https://theconversation.com/the-us-and-uk-have-decimated-their-aid-spending-australia-has-a-unique-opportunity-to-help-fill-the-vacuum-251156

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Canada: Statement by the Prime Minister on unjustified U.S. tariffs against Canada

    Source: Government of Canada – Prime Minister

    The Prime Minister, Justin Trudeau, today issued the following statement on unjustified U.S. tariffs against Canada:

    “Today, after a 30-day pause, the United States administration has decided to proceed with imposing 25 per cent tariffs on Canadian exports and 10 per cent tariffs on Canadian energy. Let me be unequivocally clear – there is no justification for these actions.

    “While less than 1 per cent of the fentanyl intercepted at the U.S. border comes from Canada, we have worked relentlessly to address this scourge that affects Canadians and Americans alike. We implemented a $1.3 billion border plan with new choppers, boots on the ground, more co-ordination, and increased resources to stop the flow of fentanyl. We appointed a Fentanyl Czar, listed transnational criminal cartels as terrorist organizations, launched the Joint Operational Intelligence Cell, and are establishing a Canada-U.S. Joint Strike Force on organized crime. Because of this work – in partnership with the United States – fentanyl seizures from Canada have dropped 97 per cent between December 2024 and January 2025 to a near-zero low of 0.03 pounds seized by U.S. Customs and Border Protection.

    “Canada will not let this unjustified decision go unanswered. Should American tariffs come into effect tonight, Canada will, effective 12:01 a.m. EST tomorrow, respond with 25 per cent tariffs against $155 billion of American goods – starting with tariffs on $30 billion worth of goods immediately, and tariffs on the remaining $125 billion on American products in 21 days’ time. Our tariffs will remain in place until the U.S. trade action is withdrawn, and should U.S. tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures. While we urge the U.S. administration to reconsider their tariffs, Canada remains firm in standing up for our economy, our jobs, our workers, and for a fair deal.

    “Because of the tariffs imposed by the U.S., Americans will pay more for groceries, gas, and cars, and potentially lose thousands of jobs. Tariffs will disrupt an incredibly successful trading relationship. They will violate the very trade agreement that was negotiated by President Trump in his last term.”

    MIL OSI Canada News

  • MIL-OSI China: Trump: 25% tariffs on Mexico, Canada to take effect on March 4

    Source: China State Council Information Office 3

    U.S. President Donald Trump attends a press conference at the White House in Washington D.C., the United States, Feb. 13, 2025. [Photo/Xinhua]

    U.S. President Donald Trump said Monday that 25 percent tariffs on Mexico and Canada will take effect on Tuesday, March 4.

    “Very importantly, tomorrow, tariffs, 25 percent on Canada and 25 percent on Mexico, and that’ll start,” Trump told reporters at the White House.

    “What they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs,” Trump said.

    Trump also reiterated that the reciprocal tariffs will start on April 2.

    On Feb. 1, Trump signed an executive order to impose a 25 percent tariff on goods imported from Mexico and Canada, with a 10 percent tariff increase specifically for Canadian energy products.

    On Feb. 3, Trump announced that the additional tariffs on goods from Mexico and Canada would be deferred for one month, allowing more time for negotiations. According to this decision, the relevant tariff measures are set to take effect on March 4.

    MIL OSI China News

  • MIL-OSI USA: Shaheen Guest for Joint Address to Congress Will Highlight Impact of Trump’s Proposed Tariffs on Granite State Small Businesses

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – Today, U.S. Senator Jeanne Shaheen (D-NH) announced that Rebecca Hamilton, the co-owner and co-CEO of Badger in Gilsum, New Hampshire, will be her guest for President Trump’s Joint Address to Congress tomorrow night. Badger, a family-owned manufacturer of natural personal care products, is one of dozens of small businesses in New Hampshire that have been impacted by the uncertainty around President Trump’s proposed tariffs and would be devastated if the tariffs on Mexico and Canada go into effect.
    “I’m honored to have Rebecca Hamilton joining me for the Joint Address to Congress to call attention to the harmful and costly impact of President Trump’s proposed tariffs on Mexico and Canada,” said Senator Shaheen. “Badger is family-owned and operates on razor-thin margins—they can’t afford to budget for tariffs that would amount to another tax on their small business. To grow and create good-paying jobs that boost our local economies, small businesses like Badger need to see federal policies that support a stable and strong economy—tariffs do the exact opposite.”
    “The decision to levy tariffs on key trading partners hurts small businesses like ours, which are the backbone of the U.S. economy,” states Rebecca Hamilton, co-CEO and second-generation owner of Badger. “We rely on smooth international trade for sourcing raw materials and packaging that are either not grown or commercially available in the U.S.  These tariffs would destabilize our business, damage our distribution and market position in Canada, and result in higher prices for our consumers in both the U.S. and the 15 other countries in addition to Canada that import our products. It becomes a no-win situation.”
    Shaheen immediately condemned the proposed Trump tariffs after they were announced and took to the Senate floor to detail the harmful impacts that the delayed Trump tariffs would have on Granite Staters. Shaheen also led the New Hampshire Congressional Delegation in sending a letter to the White House urging him not to impose tariffs on Canada, Mexico and China which are expected to cost the average American $1,200 per year. Shaheen also recently met with representatives from local Chambers of Commerce across New Hampshire about the harmful impact of the potential Trump tariffs on Mexico and Canada.
    Earlier this year, Shaheen introduced new legislation with U.S. Senators Ron Wyden (D-OR) and Tim Kaine (D-VA) to shield American businesses and consumers from rising prices imposed by tariffs on imported goods into the United States. The Senators’ legislation would keep costs down for imported goods by limiting the authority of the International Emergency Economic Powers Act (IEEPA)—which allows a President to immediately place unlimited tariffs after declaring a national emergency—while preserving IEEPA’s use for sanctions and other tools.

    MIL OSI USA News

  • MIL-OSI USA: Remarks by President Trump on Investment Announcement

    US Senate News:

    Source: The White House
    class=”has-text-align-center”>Roosevelt Room
    2:38 P.M. EST
         THE PRESIDENT:  Hello, everybody.  Thank you very much.
         Thank you very much.  This is a very big day for a lot of reasons, but this gentleman is a very unique man.  I think I can say, in the world of chips, certainly, but in the world pretty much of business, nobody has done what he’s done.  For those of you that are into that world, you would say, “Wow, he’s a legend.”  But he is a legend.  And it’s an honor to be with you.  Very great honor.  Thank you very much.
         MR. WEI:  Thank you, Mr. President.
         THE PRESIDENT:  Thank you very much.
         Welcoming, from TSMC — which is the biggest there is, at a level that you can’t even calculate, frankly — C.C. Wei, to the White House for a very historic announcement.  This is a tremendous thing for our country and, hopefully, for his company. 
         We’re also pleased to be joined by Commerce Secretary Howard Lutnick and White House AI and crypto czar, David Sacks, another two very highly respected people.  It’s great to have you guys involved.  And, David, thank you very much for coming on.
         David is sort of the king of intellect in that world.  We have some good people.     Today, Taiwan Semiconductor is announcing that they will be investing at least $100 billion dollars in new capital in the United States over the next short period of time to build state-of-the-art semiconductor manufacturing facilities.  I think, mostly, it’s going to be in Arizona, which is what I understand, which is a great state.  I like it because I won it.  But I won most of them — (laughs) — actually.  So — but I did.  We won it, and we won it big.
         The most powerful AI chips in the world will be made right here in America, and it’ll be a big percentage of the chips made by his company.  But, as you know, they’re based mostly in Taiwan.  And they’re far and away the biggest.  There’s nobody even close. 
         This $100 billion in new investment will go into building five cutting-edge fabrication facilities in the great state that we just discussed, Arizona, and will create thousands of jobs — many thousands of jobs, and they’re high-paying jobs.     In total, today’s announcement brings Taiwan Semiconductor investments to about $165 billion — they’ve started already — among the largest new foreign direct investments in United States.
         Apple, as you know, made a big announcement last week of $500 billion, and we have some others that have announced. 
         We have many that want to announce.  But I don’t have time to do all of these announcements, I tell you.  But, for you, I’m doing the announcement.
         MR. WEI:  Thank you.
         THE PRESIDENT:  This will create hundreds of billions of dollars in economic activity and boost America’s dominance in artificial intelligence and beyond. 
         Semiconductors are the backbone of the 21st century economy — and, really, without the semiconductors, there is no economy — powering everything from AI to automobiles to advanced manufacturing.  And we must be able to build the chips and semiconductors that we need right here, in American factories, with American skill and American labor.  And that’s exactly what we’re doing.
         As you know, Taiwan pretty much has a monopoly on that market.  And I think “pretty much” is not a term that’s even appropriate.  They do have a monopoly.  And this is a tremendous move by the most powerful company in the world. 
         It’s a matter of economic security.  It’s also a matter of national security for us.  And, at the same time, Mr. Wei will be able to diversify and have his tremendous presence in another place and a very safe place.  And I want to thank Taiwan Semiconductor for doing the announcement.  
         And I’d like to ask Mr. Wei to say a few words, if you might.
         And I’d also like to ask Howard and David — you can say a couple of words.  But maybe you should go first because, right now, he’s the most important man in the room.  I’m sorry, fellas.
         Please.
         Thank you very much.  Thank you.  Great honor.  
         MR. WEI:  Thank you, Mr. President.
         THE PRESIDENT:  Thank you.
         MR. WEI:  I’m a — I’m a little bit nervous, so I have to pull out my piece of paper.
         Mr. President, Secretary Lutnick — and, David, I didn’t know that — your title, but — okay.
         First, I want to thank — say thank you to Mr. President to give me this opportunity to announce our big project in the U.S. 
    TSMC is the world’s largest chip manufacturing, founded by Dr. Morris Chang in 1987.  It’s now at the forefront of semiconductor technology, supporting AI advancement and industry growth. 
         In fact, I would like to wind back the time that in 2020 we have to thank President Trump’s vision and his support.  So, TSMC start the journey of establishing the advanced chip manufacturing in Arizona.  And now, let me proudly say, now the vision become reality.  
         In Phoenix, Arizona, with 3,000 employees, we are producing the most advanced chip made on U.S. soil with the success of our first fab. 
         So, we are now very happy to announce we are going to invest additional 100 billion U.S. dollar in addition to our current 65-billion-U.S.-dollars investment in Arizona.  We are going to build three more new fab — be- — after we promised the three fabs already, and another two very advanced packaging fab, and, most important, an R&D center, also in Arizona. 
         For this, all the investment — $165 billion — is going to create thousand of the high-paid job, as the president just announced.  And we are, most important — actually, we are going to produce many AI chips.  We are going to produce many chips to support AI’s progress and to support the smartphone’s progress. And, again, with that, I want to thank President Trump again for his support.  In addition, I also want to thank my customers in the U.S., such as Apple, Nvidia, AMD, Qualcomm, Broadcom.  They all support TSMC’s manufacturing in the U.S.  Without their support, we probably cannot make it true. 
    So, again, I want to thank them.  Also, I’d like to thank the TSMC’s employee.  Without their effort, we just cannot make it today. 
    That’s all I want to say.  And thank you. 
    THE PRESIDENT:  Thank you.  That’s great.  (Applause.)  Thank you very much. 
    Howard, please.  David.
    SECRETARY LUTNICK:  Sure.
    THE PRESIDENT:  Thank you. 
    SECRETARY LUTNICK:  So, I’m thrilled to be here today, because President Trump has made it a fundamental objective to bring semiconductor chip manufacturing home to America. 
    Under the Biden administration, TSMC received a $6 billion grant, and that encouraged them to build $65 billion.  So, America gave TSMC 10 percent of the money to build here.  And now you’re seeing the power of Donald Trump’s presidency, because TSMC, the greatest manufacturer of chips in the world, is coming to America with $100 billion investment.  And, of course, that is backed by the fact that they can come here because they can avoid paying tariffs. 
    So, the idea is: Come to America.  Build greatness in America.  Build for the American customers — the Apple, Nvidia, that whole list that Chairman Wei gave — in order to bring production to America. So, we’re really, really excited.  This continues the most incredible path you’ve ever seen, in these first weeks and months of the Trump administration, of incredible manufacturing coming to America.  The keys that the president has called out are coming here.  They’re coming here in huge size because they want to be in the greatest market in the world, and they want to avoid the tariffs that, if they’re not here, they’d have to suffer. 
    So, I want to congratulate C.C. Wei for bringing in this incredible $100 billion investment, but it’s on the shoulders of our president, Donald Trump, which is why he’s coming. 
    So, thank you.  
    THE PRESIDENT:  Thank you.
    David.  
    MR. SACKS:  Thank you, sir.  Well, the products that TSMC makes are literally the most important products in the world.  I mean, these advanced chips power everything.  They power AI.  They power your phone.  They power your cars.  And without them, the whole modern economy would stop, but they’re not made in the United States. 
    So, for TSMC to move here is a huge, huge development, and we owe that to President Trump’s leadership on the economy and Secretary Lutnick as well.  And, C.C., thank you for — for coming here. 
    Thank you.  Yeah.
    THE PRESIDENT:  Thank you, David. 
    So, thank you very much.  A big percentage of chips with this investment will be made now — a big percentage.  Worldwide, we had very little.  Almost none.  We used to have a lot with Intel.  But we had very little.  And we’ll be at close to 40 percent of the market with this transaction and a couple of others that we’re doing.  That’s a tremendous leap — like, a leap that nobody would have really said was possible. 
    So, I just want to thank you all for being here.  If you want a couple of questions.
    (Cross-talk.)
    Q    On the — 
    THE PRESIDENT:  Ideally on this subject. 
    Yes, please. 
    Q    — specific number of jobs it will create.   He said thousands —
    THE PRESIDENT:  They — yeah.
    Q    — but do you have a better —
    THE PRESIDENT:  They — you’re probably talking about 25,000 jobs.  But it’ll get bigger and bigger with time.  Knowing this gentleman, it’ll get bigger and bigger.  There’ll be no stopping him.  (Laughs.)
    Q    Mr. President, what more —
    THE PRESIDENT:  Yeah.  Brian, go ahead.
    Q    Right.  In addition to the jobs, you talked about national security, and that’s one thing I think a lot of Americans —
    THE PRESIDENT:  Yeah. 
    Q    — at home don’t understand.  Explain the national security aspect of this. 
    THE PRESIDENT:  Well, without the chips and semiconductors, nothing runs today.  You can’t buy a car without them.  You can’t get a radio, a television, nothing — you can’t get anything.  And we thought it was very important — obviously, business was, but we thought even to terms of national security, to have this large percentage of the chips, semiconductors, and other things that they make — the most important product, and not a product that you can really copy.  It takes years and years.  
    You’re on the needle of a pin is total genius.  I mean, they can put things — I mean, something the size of the needle, the point of a pin, they put information that is just not even believable. 
    So, if you would — 
    (Cross-talk.) 
    If you would see this, it’s just really something. 
    Yes, Brian. 
    Q    Can I — one — one more aspect to that.  Honda —
    THE PRESIDENT:  Yeah. 
    Q    — announced they’re coming to Indiana because of the tariffs.  Once again —
    THE PRESIDENT:  That’s right.
    Q    — you’re bringing additional jobs in manufacturing.  Do you want to comment on that as well?
    THE PRESIDENT:  Well, Honda is coming, and I told you about Apple, that they’re going to be starting to build massively here — $500 billion.  And we have many other companies.  It’s going to be announced, but we had many that have already announced.  And no, it’s going to be great.  It’s looking — it’s looking really strong.  I don’t think this country has ever seen anything like we’re seeing right now. 
    Now, the tariffs, as you know, it will start a week earlier than the reciprocal, which is going to be on — a couple of weeks earlier.  Reciprocal tariffs start on April 2nd.  And I wanted to make it April 1st, but I didn’t want to do — I didn’t want to go April Fool’s Day — (laughter) — because that cost me — that costs a lot of money, but — that one day.  So, we’re going April 2nd.
    But very importantly, tomorrow, tariffs — 25 percent on Canada and 25 percent on Mexico, and that’ll start.  So, they’re going to have to have a tariff.  So, what they’ll have to do is build their car plants, frankly, and other things in the United States — in which case, they have no tariffs.  In other words, you build — and this is exactly what Mr. Wei is doing by building here.  Otherwise, they’ll build — if they did them in Taiwan to send them here, they’ll have 25 percent or 30 percent or 50 percent or whatever the number may be someday.  It’ll go only up.  But by doing it here, he has no tariffs, so he’s way ahead of the game. 
    And I would just say this to people in Canada or Mexico, if they’re going to build car plants, the people that are doing them are much better off building here, because we have the market.  We’re the market where they sell the most.  
    And so, I think it’s going to be very exciting.  Very exciting for the automobile companies.  Very exciting for — I can think of any — as an example, North Carolina, they had the great — I used to go there to buy furniture for hotels, and it’s been wiped out.  That business all went to other countries, and now it’s all going to come back into North Carolina — the furniture manufacturing business.
    Please.  
    Q    Mr. President —
    Q    Is the Ukraine minerals deal now dead, or can it be revived?  What — what’s your —
    THE PRESIDENT:  Well, I’ll let you know.  We’re making a speech — you probably heard about it — tomorrow night, so I’ll let you know tomorrow night. 
    But, no, I don’t think so.  I think it’s — look, it’s a great deal for us, because, you know, Biden very, very, foolishly — stupidly, frankly — gave $300 billion and — $350 billion, more accurately — to a country to fight and to try and do things.  And you know what happened?  We get nothing.  We get nothing — just gave it. 
    We could have rebuilt our entire U.S. Navy with $350 billion.  Think of it.  Three hundred and fifty billion, we could have rebuilt our U.S. Navy.
    So, he gave it away as fast as the money could be gone.  And what we’re doing is getting that all back and a lot more than that.  And what we need — it’s very important for this business that we’re talking about here, with chips and semiconductors and everything else — we need rare earths.  And the deal we have is we have the finest rare earths that you can. 
    Q    Sir, on Ukraine.  Sir, on Ukraine.
         Q    Are you going to press back —
    Q    Thank you, Mr. President.  What do you need to see from President Zelenskyy to restart these negotiations?
    THE PRESIDENT:  Well, I just think he should be more appreciative, because this country has stuck with them through thick and thin.  We’ve given them much more than Europe, and Europe should have given more than us, because, as you know, that’s right there.  That’s the border. 
    This country really was like the fence on the border.  It was very important to Europe.  And I’m not knocking Europe, I’m saying they’re just — they were a lot smarter than Joe Biden, because Joe Biden didn’t have a clue.  He just gave money hand over a fist, and they should have been able to equalize with us. 
    In other words, if we gave a dollar, they should have given.  Well, we gave $350 billion.  They probably gave 100, but on top of it all, they get their money back, because they are doing it in the form of a loan, and it’s a secured loan.  
    So, when I saw that, which I’ve known about for a little while, I said, “It’s time for us to be smart.”  At the same time, it’s great for them, because they get us in the country taking the rare earth, which is going to fuel this big engine, and especially the engine that we’ve, in a very short time, created.  And we get something, and we’re in the — we’re there.  We have a presence there. 
    With all of that being said, I want one thing to happen: I want all of those young people to stop being killed.  They’re being killed by the thousands every single week.  Last week, 2,700 were killed.  Twenty-seven hundred young — in this case, just about, all young boys from Ukraine and from Russia.  And that’s not young people from the United States, but it’s on a human basis. 
    I want to see it stop.  The money is one thing, but the death.  And they’re losing thousands of soldiers a week, and that’s not including the people that get killed every time a town goes down or a missile goes into a town.
    (Cross-talk.)
    We — and — and I want to see it stop. 
    Yes.  
    Q    Mr. President, are you considering canceling military aid to Ukraine?  And can we get a reaction to what the Kremlin just said, that your administration is bringing U.S. worldview in alignment with Moscow’s?  
    THE PRESIDENT:  So, this is a deal that should have never happened.  This is a deal that would have never happened, and it didn’t happen — for four years, it didn’t happen.  It was never even close to happening.  If I were president, would not have happened.  And October 7th would have — would not have happened in Israel.  And inflation wouldn’t have happened. 
    And Afghanistan, disastrous — the way they withdrew — not the fact that they withdrew but the way they withdrew — would have never happened.  And we would have had Bagram right now instead of China having it.  It was one hour away from where China makes their nuclear weapons.  We would have kept Bagram — one of the biggest air bases in the world. 
    All of these things happened, and it’s a shame.  But it is what it is, and now we’re here.  I want to see it end fast.  I don’t want to see this go on for years and years.
    Now, President Zelenskyy supposedly made a statement today in AP — I’m not a big fan of AP, so maybe it was an incorrect statement — but he said he thinks the war is going to go on for a long time, and he better not be right about that.  That’s all I’ll say.
    Q    Mr. President, is there any —
         Q    Could this project — could this minimize the impact of the U.S. with chips should China decide to isolate Taiwan or China decide to take Taiwan? 
    THE PRESIDENT:  Well, it’s a very interesting point.  It’s a great question, actually.  But this would certainly — I can’t say “minimize.”  That would be a catastrophic event, obviously.  But it will at least give us a position where we have — in this very, very important business, we would have a very big part of it in the United States.  So, it would have a big impact if something should happen with Taiwan.
    Q    And with Russia sanctions, are you looking at relieving Russian sanctions if there is a peace deal?
    THE PRESIDENT:  Well, we’re going to make deals with everybody to get this war, including Europe and European nations.  And they’ve acted very well.  You know, they’re good people.  I know; most of them are friends of mine — the heads of state, the heads of the various countries, prime ministers from the different — I got four prime ministers and five presidents called me over the last two days, and they want to work it out.  They want to get it worked out.  
    And I think they’re also — you know, they’re talking money, but the money is less important than the deaths.  We’re talking thousands of young people a week.  And people would say why do I care about Ukraine, young people; why do I care about — and not all young, but they’re pretty young.  You know, Ukraine is running a little bit low, and they’re getting older.  They’re recruiting older people.  It’s a very, very sad thing that’s happening over there, and we want to get it finished.  We want to stop the death. 
    (Cross-talk.)
    Q    Mr. President, on the tariffs.  Is there any room left for Canada and Mexico to make a deal before midnight?  And should we expect those Chinese tariffs, the extra 10 percent to take effect tomorrow?
    THE PRESIDENT:  No room left for Mexico or for Canada.  No, the tariffs, you know, they’re all set.  They go into effect tomorrow.
    Q    Mr. President, just a follow-up on my colleague’s question.  Hearing —
    THE PRESIDENT:  And just so you understand, vast amounts of fentanyl have poured into our country from Mexico and, as you know, also from China, where it goes to Mexico and goes to Canada.  And China also had an additional 10, so it’s 10 plus 10.  
    And it comes in from Canada, and it comes in from Mexico, and that’s a very important thing to say.
    Yeah, please.  Go ahead.
    Q    Have you decided if you’re going to suspend military aid to Ukraine?  Have you made that decision?
    THE PRESIDENT:  Well, I haven’t even talked about that right now.  I mean, right now, we’ll see what happens.  A lot of things are happening right now, as we speak — I mean, literally as we speak.  I could give you an answer and go back to my office — the beautiful Oval Office.  I could go back into the Oval Office and find out that the answer is obsolete.
         It’s like his business.  It’s obsolete.  You come up with a new chip, and it’s obsolete about two minutes later, right?  But that’s what’s good about his business.  That’s why he’s the only one that’s successful in it.  But — 
         Q    And on tariffs, sir.
         Q    Mr. President, just to follow up my colleague’s question from Russia is saying that your foreign policy is largely in line with their vision.  Should that be concerning to Americans? 
    THE PRESIDENT:  Said what?
    Q    Should that be concerning to Americans?
    THE PRESIDENT:  Read the statement.
    Q    That Russia — Russia says that your administration’s foreign policy is, quote, “largely in line” with their vision.
    THE PRESIDENT:  Well, I tell you what, I think it takes two to tango, and you’re going to have to make a deal with Russia, and you’re going to have to make a deal with Ukraine.  You’re going to have to have the ascent, and you’re going to have to have the consent from the European nations, because I think that’s important, and from us. 
    I think everybody has to get into a room, so to speak, and we have to make a deal.  And the deal could be made very fast.  It should not be that hard a deal to make.  It could be made very fast. 
    Now, maybe somebody doesn’t want to make a deal, and if somebody doesn’t want to make a deal, I think that person won’t be around very long.  That person will not be listened to very long.  Because I believe that Russia wants to make a deal.  I believe, certainly, the people of Ukraine want to make a deal.  They’ve suffered more than anybody else.  We talk about suffering — they’ve suffered.
    But if you think about it, under President Bush, they got Georgia, right?  Russia got Georgia.  Under President Obama, they got a nice, big submarine base, a nice big chunk of land where they have their submarines.  You know that, right?  Crimea.  Under President Trump, they got nothing.  And under President O-Biden, they tried to get the whole thing.  They tried to get the whole big Ukraine, the whole thing.  If I didn’t get in here, they would’ve gotten the whole thing.  
    So, I can only say — you can go back to Bush, you go back to Obama, and go back to Biden — they took a lot.  The only one they didn’t get — you know what I gave them?  I gave them anti-tank missiles.  That’s what I gave them.  I gave them sanctions on Russia — on Russia.  I gave them Javelins.  You know the Javelins?  You know when they took out all those tanks?
    You know, the tanks were heading to Kyiv by the hundreds, and they were unstoppable, and I gave them Javelins. 
    So, you know, I really — Putin is the one that will tell you this has not been so good for them.  The fact is that I just want fairness.  I want fairness. 
    But think of it.  I gave Russia nothing except grief.  I gave them nothing.  I gave them sanctions and Javelins.  That’s what I gave them. 
    Obama gave them sheets.  And you heard that statement before.  It’s a very famous — Trump gave them Javelins, and Obama gave them sheets.  And then they say how close I am to Russia. 
    Let me tell you, we have to make a deal, because there are a lot of people being killed that shouldn’t be killed.  But remember, Trump gave them nothing, and the other presidents gave them a lot.  They gave them everything.
    Q    Mr. President, on trade.  You met with president — Argentine President Javier Milei at CPAC.  He wants to sign a free trade agreement —
    THE PRESIDENT:  Right. 
    Q    — with the United States.  Is that something that you would consider, even with Argentina, or any other country?
    THE PRESIDENT:  I’ll consider anything.  And Argentina — I think he’s great, by the way.  I think he’s a great leader.  He’s doing a great job.  He’s doing a fantastic job.  Brought it back from oblivion. 
    Yeah, we’ll look at things.  We’re looking at the UK with things.  It doesn’t have to be tariffs.  But tariffs are easy, they’re fast, they’re efficient, and they bring fairness. 
    For instance, when people kill their dollar, their equivalent of the dollar, whatever — whether it’s the yuan or the yen in Japan or the yuan in China — when they drop them down, that gives us — that puts us at a very unfair disadvantage.  So, all I have to do is say, “Howard, we’re going to have to raise the tariffs a little bit.”
    Because I’ve called President Xi, I’ve called the leaders of Japan to say, “You can’t continue to reduce and break down your currency.  You can’t do it, because it’s unfair to us.”  It’s very hard for us to make tractors — Caterpillar — here, when Japan, China, and other places are killing their currency, meaning driving it down. 
    So, all of these things add up, and the way you solve it very easily is with tariffs.  Because when they do that, instead of having to make phone calls every day, like I used to do with certain leaders — President Xi, a little bit — a lot of phone calls talking about the fact that they’re lowering their yuan.  They’re lowering it down.  And that makes it very, very hard for us. 
    So, this way, I just say, “Look, let them do that, and we make up for it with the tariffs.”  But —
    Q    Will you be speaking with Mexican President Claudia Sheinbaum about tariffs today? 
    THE PRESIDENT:  Yeah, sure, I will.  I have a lot of respect for her.  I have a lot of respect for her. 
    (Cross-talk.) 
    Q    After the 10 percent tariff take ef- —
    THE PRESIDENT:  Yeah. 
    Q    — takes effect, it’ll be 20 percent on China now.  How high are you willing to go against China?
    THE PRESIDENT:  Well, I can’t say.  It depends on what they do with their currency.  It depends on what they do in terms of a retaliation with some kind of an economic retaliation, which I don’t think they’re going to retaliate too much.  
    Hey, look, the United States has been taken advantage of for 40 years.  The United States has been a laughing stock for years and years.  That’s why this gentleman has built in Taiwan, instead of building here.  It would have been better if he built here.  
    If we had a president that knew what they were doing — and we had a lot of them very bad on trade.  Look, I’m a huge fan of Ronald Reagan, but he was bad on trade.  Very bad on trade.  He allowed a lot of people, a lot of businesses, to be taken.  So, I say that with due respect, because I — he was so great on other things, but he was bad on trade. 
    We are setting records right now — records like nobody has ever seen before.  When you have companies like this coming in and almost 40 percent of their company, in one signature, is going to be devoted to what he does, which is one of the most important — important businesses in the world, that’s an unbelievable thing.  When Apple now is going to start building all of their plants here, all because of what we’ve done in terms of — it’s not because he likes me or they like me.  They don’t probably like me at all.  I don’t know.  I think he likes me a little bit, at least.  (Laughter.)
    MR. WEI:  No, I like you.
    THE PRESIDENT:  But you know what?  It’s the incentive we’ve created or the negative incentive.  I mean, it’s going to be very costly for people to take advantage of this country.  They can’t come in and steal our money and steal our jobs and take our factories and take our businesses and expect not to be punished, and they’re being punished by tariffs. 
    It’s a very powerful weapon that politicians haven’t used because they were either dishonest, stupid, or paid off in some other form.  And now we’re using them.
    Q    Have you spoken with President Xi?
    Q    Agriculture — 
    THE PRESIDENT:  Say it. 
    Q    Have you spoken with President Xi about this this term?
    THE PRESIDENT:  I don’t want to tell you that. 
    Q    On those incentives, sir.
    THE PRESIDENT:  Thank you very much, everybody. 
    (Cross-talk.) 
    Thank you.  Thank you very much.
                                 END                3:07 P.M. EST

    MIL OSI USA News

  • MIL-OSI USA: Rosen Urges Trump Administration to Take Action to Prevent Higher Housing Prices As A Result of Tariffs on Canada and Mexico

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)
    WASHINGTON, DC – Today, U.S. Senator Jacky Rosen (D-NV) sent a letter urging the Trump Administration to reverse course on imposing tariffs on Canada and Mexico to prevent housing prices from rising even further. In her letter to Secretary of Commerce Howard Lutnick, she outlines how President Trump’s tariffs will increase housing costs by driving up the cost of construction materials needed to increase the housing supply and address Nevada’s affordable housing crisis. In the letter, sent before this evening’s expiration of the President’s thirty-day pause on new tariffs, Senator Rosen specifically highlights the role Canadian lumber plays in helping meet the demand to build affordable homes.
    “In Nevada and throughout the nation, exorbitant housing prices are putting a strain on already-tight household budgets. At a time when high interest rates and low inventory are driving up housing costs, the need to build affordable homes is growing more acute by the day,” wrote Senator Rosen. “However, it is simply too expensive to build affordable housing in the current high-cost environment. Labor shortages, supply chain disruptions, and fluctuating material costs all drive up construction costs, making it harder to develop housing that is affordable for low- and middle-income families.”
    “Compounding our nation’s housing affordability crisis through the imposition of reckless tariffs would be devastating and must be reconsidered,” she continued. “To that end, I respectfully ask that you work with the President to exempt critical construction materials, including lumber, from any tariffs imposed on Canada and Mexico. Doing so will not harm our national security, but will instead invest in the economic security of Americans across the country who are struggling to afford a home in an era of rising costs.”
    The full text of the letter can be found HERE.
    Senator Rosen is working to lower housing costs and prevent housing prices from increasing further. Earlier this year, she introduced bipartisan legislation to invest in the construction workforce to help lower housing costs. Last year, she urged HUD to increase the Southern Nevada Regional Housing Authority’s (SNRHA) Housing Choice Vouchers allocation by 10,000 vouchers over five years. Senator Rosen also called on Senate leadership to address rising housing prices and lower costs for Nevada families through a series of Congressional actions she outlined.

    MIL OSI USA News

  • MIL-OSI China: Trump says 25 pct tariffs on Mexico, Canada to take effect ‘tomorrow’

    Source: China State Council Information Office

    U.S. President Donald Trump said Monday that 25 percent tariffs on Mexico and Canada will take effect on Tuesday, March 4.

    U.S. President Donald Trump attends a press conference at the White House in Washington D.C., the United States, Feb. 13, 2025. (Xinhua/Hu Yousong)

    “Very importantly, tomorrow, tariffs, 25 percent on Canada and 25 percent on Mexico, and that’ll start,” Trump told reporters at the White House.

    “What they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs,” Trump said.

    Trump also reiterated that the reciprocal tariffs will start on April 2.

    On Feb. 1, Trump signed an executive order to impose a 25 percent tariff on goods imported from Mexico and Canada, with a 10 percent tariff increase specifically for Canadian energy products.

    On Feb. 3, Trump announced that the additional tariffs on goods from Mexico and Canada would be deferred for one month, allowing more time for negotiations. According to this decision, the relevant tariff measures are set to take effect on March 4.  

    MIL OSI China News

  • MIL-OSI USA: Governor Polis: Trump’s Tariff Tax will Raise Costs For All

    Source: US State of Colorado

    DENVER – President Trump plans to implement a new 25% tax on hardworking Americans through his disastrous tariff tax.

    “Unless President Trump pulls back from tariffs on products from Mexico and Canada, starting at midnight, the President’s horrible sales tax will apply to all hardworking Coloradans. Trump’s tariffs are a costly sales tax that will raise the price of groceries, clothes, homes, technology, cars, and everyday items Americans rely on and hurt North American competitiveness. President Trump is playing chicken with people’s pocketbooks, small businesses, and our economy, and it is harmful. While Colorado is pushing ahead to lower costs, the President’s tariffs alone will cause economic devastation across America in their wake,” said Colorado Governor Polis.  

    Governor Polis has been outspoken in opposition to President Trump’s reckless tariff tax.

    ###
     

    MIL OSI USA News

  • MIL-OSI Global: How to sustain international order in an ‘America First’ world

    Source: The Conversation – Canada – By Daniel Manulak, Postdoctoral Fellow, History, University of Toronto

    The United States is abandoning its traditional role as the anchor of the liberal world order — a set of norms, rules, customs and international institutions designed to maintain global stability and foster peaceful interchange between states.

    From announcing its intention to withdraw from the World Health Organization (WHO) and the United Nations Human Rights Council to threatening allies — including Canada — with annexation and damaging tariffs, U.S. President Donald Trump has launched an assault on the liberal world order that upholds the post-1945 international system.

    Under these circumstances, it’s more urgent than ever that Canada clarifies its vision in world affairs and accepts its responsibility to sustain the rules-based global order. By looking into the past, we can see what Canada can do in the present.




    Read more:
    Like dictators before him, Trump threatens international peace and security


    How Canada made a difference

    The U.S. isn’t the only country with a vested interest in maintaining the liberal international order — even if it has been the only nation with the will and capacity to serve as its safeguard.

    Canada was also present at the creation of the UN in 1945. They, too, played a fundamental part in the development of its specialized agencies — such as the WHO and the International Civil Aviation Organization.

    In fact, Canada has been an engaged member of the international community. The country played a leading role in establishing the UN Emergency Force during the Suez Crisis, fighting apartheid in South Africa and building a coalition to ban anti-personnel land mines in the 1990s, to name a few examples.

    Canada has done so because it’s been in the best interest of the country. A liberal, rules-based international order is a framework in which Canada can make a meaningful difference in global affairs disproportionate to its limited size and capabilities.

    It also makes for a more prosperous, stable and peaceful world. One where norms, rules and institutions constrain aggressive or malevolent world leaders and facilitates co-operation on global problems.

    But what can lessons from the past offer Canada in sustaining global order in an “America First” world. This is a policy espoused by the Trump administration that is focused inwards. It approaches international affairs as a transactional, zero-sum game.

    Learning from the past

    First, Canada is at its most effective when Canadians act in unison towards a common goal.

    During the Ethiopian famine in the 1980s, Canadians of all stripes and levels of government worked in tandem to organize a truly national response to alleviate the humanitarian crisis. Regular citizens contributed more than $30 million — potentially saving over 700,000 people from starvation.

    This domestic political consensus also provided the requisite support for the federal government to co-ordinate an international famine relief effort. This was despite the resistance of Canada’s major allies in the U.S. and the U.K., due to the Marxist orientation of the Ethiopian government.

    Granted, few international causes offer such grounds for unity. Political polarization has only made this type of unity more difficult. And yet, as recent events (such as Trump’s threat to coerce Canada into becoming the 51st state) make clear, Canadians are willing to put aside their differences and rally together when there’s a coherent vision for the country rooted in its values and aspirations.

    Second, Canada needs to work closely with like-minded states through multilateral institutions — such as the United Nations and the Commonwealth. Under Brian Mulroney’s Progressive Conservative government, Canada relied on its membership in nearly every major international association to build and maintain the global coalition against South African apartheid.




    Read more:
    Brian Mulroney’s tough stand against apartheid is one of his most important legacies


    Australia, India, Zambia and Zimbabwe emerged as key partners. Such efforts entailed both political and economic costs. But there was a reason why one of Nelson Mandela’s first visits following his release from prison in 1990 was to Canada.

    By redoubling its engagement in international organizations, Canada can punch above its weight in world affairs and shape global priorities. It also provides a counter to the influence of the United States in Canadian foreign policy.

    Third, the U.S. is more than its president. Canada can still cultivate ties with Americans beyond the White House. Returning to the Mulroney government, Ottawa’s efforts to persuade the Ronald Reagan administration to negotiate restrictions on emissions resulting in acid rain were unsuccessful.

    Nonetheless, by lobbying congressional leaders in impacted states and partnering with environmental non-governmental organizations, Canada and the U.S. eventually agreed to the 1991 Air Quality Agreement.

    Surviving hostile administrations

    Canada should also be realistic about the degree to which it can diversify its economic and diplomatic relationships outside of the U.S.

    In the early 1970s, President Richard Nixon imposed a 10 per cent surcharge on Canadian imports. Then, just as it is now, Ottawa looked for alternative markets to offset Canada’s dependency on the Americans. These initiatives ultimately failed to materialize — but the surcharge was rescinded. Canada-U.S. relations ultimately survived the Nixon administration.

    Similarly, while Trump has offered a stark reminder that Canada needs to take an active role in sustaining the rules-based international order on which it depends, the ties that bind the two countries together are deeper and longer-lasting than any one administration or government.

    Even so, with a world in chaos, Canada needs to step up to defend international norms and institutions. It has done so in the past and can do so again — provided it develops a coherent foreign policy strategy moving forward.

    Daniel Manulak receives funding from the Social Sciences and Humanities Research Council of Canada.

    ref. How to sustain international order in an ‘America First’ world – https://theconversation.com/how-to-sustain-international-order-in-an-america-first-world-248364

    MIL OSI – Global Reports

  • MIL-OSI: DMG Blockchain Solutions Reports First Quarter 2025 Results and February Operations Update

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 03, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and data center technology company, today announces its fiscal first quarter 2025 financial results. All financial references are in Canadian Dollars unless specified otherwise. Readers are encouraged to review the Company’s December 31, 2024 quarterly unaudited financial statements and management’s discussion and analysis thereof for a fulsome assessment of the Company’s performance and applicable risk factors, available at www.sedarplus.ca.

    Q1 2025 Financial Results Highlights

    • Revenue: $11.6 million in Q1 2025, up 97% from $5.9 million in Q4 2024 and up 20% from $9.7 million in Q1 2024.
    • Bitcoin Mined: 97 bitcoin mined in Q1 2025, up 49% from Q4 2024.
    • Cash Flow from Operations: -$2.7 million in Q1 2025, versus +$1.3 million in Q4 2024, as the Company sold $4 million less bitcoin than it earned.
    • Hashrate: 1.62 EH/s for Q1 2025, up 65% sequentially and 68% year-over-year; now operating at 1.8 EH/s with the goal to reach 2.1 EH/s in March 2025.
    • Fleet Efficiency: 22.9 J/TH in Q1 2025, an improvement of 7% from Q4 2024; targeting 21 J/TH when hydro miners are fully energized.
    • Cash and Digital Assets: $58.2 million as of quarter-end Q1 2025, up 62% from Q4 2024 and up 110% from Q1 2024.
    • Net Loss: -$0.02 per share in Q1 2025, versus -$0.05 per share in Q4 2024 and $0.04 in Q1 2024.

    Preliminary February Operational Results

    • Bitcoin Mined: 27 BTC (vs 31 BTC in Jan 2025, in line with 28 days and curtailment)
    • Hashrate: 1.71 EH/s (vs 1.75 EH/s in Jan 2025)
    • Bitcoin Holdings: 443 BTC (vs 431 BTC in Jan 2025)
    • Days non-firm power curtailed: 3 (vs 0 in Jan 2025); average hashrate was 1.81 EH/s for period excluding curtailment

    DMG’s CEO, Sheldon Bennett, commented: “In addition to growing our hashrate, the first part of our financial year 2025 marks a major step forward in our Core+ strategy and Generative Artificial Intelligence ambitions. With Systemic Trust now a Qualified Digital Asset Custodian, we are focused on onboarding new customers and ramping revenue. Our near-term roadmap to offer Systemic Trust custodial wallets that support DMG’s Petra technology along with the integration of both Helm Data Center Infrastructure Management and Reactor into Terra Pool, position us to fully enable our carbon neutral Bitcoin ecosystem. Furthermore, we have expanded our AI initiatives, with a memorandum of understanding for a 10 MW prefabricated data center in addition to our MOU to establish a joint venture with the Malahat Nation for 30 MW of AI compute capacity. We remain committed to growth in areas that can deliver the most long-term value for our shareholders.”

    Financial First Quarter 2025 Financial Results Review

    Revenue increased by $1,942,061 in Q1 2025 from $9,690,764 Q1 2024. The increase in revenue is attributable to increases in digital currency mining revenues of $1,489,833 due to increases in the average bitcoin price in the period of $116,580 versus $49,006 during the same period in the prior year. These increases were offset by increases in network difficulty from the same period last year.

    Operating and maintenance expenses for Q1 2025 was $6,679,843, up from $5,147,651 in Q1 2024. This increase is primarily attributed to a $1,368,217 rise in utilities expenses, driven by expanded digital currency mining operations related to additional operating miners.

    Research costs for Q1 2025 were $553,964, having increased by $115,785 compared to Q1 2024. Research in fiscal 2025 continues to focus on software and relates to work on Systemic Trust, Helm, Reactor and Blockseer Explorer.

    General and administrative costs for Q1 2025 was $1,836,680 in comparison to $886,061 for Q1 2024. General and administrative costs consist mostly of wages, professional fees, consulting fees and interest expense. The overall increase of $950,619 is attributable mainly to an increase of $178,958 in consulting fees, $171,595 in wages and $422,645 in interest expense related to the Company’s credit facility with Sygnum Bank.

    Depreciation for Q1 2025 was $4,349,470 compared to $4,341,782 in Q1 2024.

    Net income decreased by $10,075,491 to a net loss of $3,103,001 for Q1 2025 versus net income of $6,972,490 in Q1 2024. The decrease in net loss is mainly a result of a large unrealized gain on revaluation of digital currencies in the prior year of $8,162,860 in the statement of profit and loss. A gain of $15,319,443 was recorded through other comprehensive income in the current period related to an unrealized gain on the revaluation of the balance held of digital currency. Gains related to the increase in digital currency in the prior year were offset against historical losses incurred in prior periods. Gains are recognized to the extent of any historical losses, after which gains are recognized through other comprehensive income under the accounting policies of IAS 38. Resulting in a large difference in net income between the two periods.

    Total assets as of December 31, 2024 were $137,128,716, an increase of $33,259,735 versus September 30, 2024. The increase is mostly attributable to a net increase in digital currency of $19,615,571, due to the revaluation of digital currency balances at an increased price of bitcoin, $132,949 as of December 31, 2024 as compared to $88,673 as of September 30, 2024.

    In Q1 2025, DMG sold 78 bitcoin, generating $7,305,976 cash, thus selling 81% of the bitcoin mined versus 143% in the prior quarter.

    Future changes in the Bitcoin network-wide mining difficulty or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate and mining difficulty.

    First Quarter 2025 Results Conference Call Details

    The Company will host a conference call to review its results and provide a corporate update on Tuesday, March 4, 2025 at 4:30 PM ET. Participants should register for the call via the registration link.

    In addition to a live Q&A session via chat, management will also address pre-submitted questions. Those wishing to submit a question may do so via email at investors@dmgblockchain.com, using the subject line ‘Conference Call Question Submission,’ through 2:00 PM ET on March 4, 2025.

    About DMG Blockchain Solutions Inc.

    DMG is a publicly traded, sustainably-focused and vertically integrated blockchain and data center technology company that develops, manages and operates end–to-end digital solutions to monetize the blockchain and generative artificial intelligence compute ecosystems. DMG’s businesses are segmented into two business lines under the Core (data center infrastructure) and Core+ (software and services) strategies and unified through DMG’s vertical integration.

    For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
    Follow @dmgblockchain on X and subscribe to DMG’s YouTube channel.

    For further information, please contact:

    On behalf of the Board of Directors,

    Sheldon Bennett, CEO & Director
    Tel: +1 (778) 300-5406
    Email: investors@dmgblockchain.com
    Web: www.dmgblockchain.com

    For Investor Relations:
    investors@dmgblockchain.com

    For Media Inquiries:
    Chantelle Borrelli
    Head of Communications
    chantelle@dmgblockchain.com

    DMG Blockchain Solutions Inc.
    Condensed Consolidated Interim Statements of Financial Position
    (Expressed in Canadian Dollars)
     

    Notes

    As at
    December 31, 2024
    (unaudited)
      As at
    September 30, 2024
    (audited)
     
    ASSETS   $   $  
    Current      
    Cash and cash equivalents   4,273,533   1,679,060  
    Amounts receivable 6 4,802,944   4,910,251  
    Digital currency 5 53,943,274   34,327,703  
    Prepaid expense and other current assets   402,787   337,042  
    Marketable securities 8 359,833   316,803  
    Short-term investment 9 5,516,500    
    Total current assets   69,298,871   41,570,859  
           
    Long-term deposits 10 10,743,511   2,047,682  
    Property and equipment 12 50,194,530   53,798,978  
    Intangible asset   276,040    
    Long-term investments 13 45,000   45,000  
    Amount recoverable 7 6,570,764   6,406,462  
    Total assets   137,128,716   103,868,981  
           
    LIABILITIES AND SHAREHOLDERS’ EQUITY      
    Current      
    Trade and other payables 14 3,748,608   5,183,107  
    Deferred revenue 19 7,355    
    Current portion of lease liability 15 40,071   43,483  
    Current portion of loans payable 16 20,020,520   13,928,462  
    Total current liabilities   23,816,554   19,155,052  
           
    Long-term lease liability 15 41,534   51,842  
    Total liabilities   23,858,088   19,206,894  
           
    Shareholders’ Equity      
    Share capital 17(a) 120,326,738   113,086,455  
    Reserves 17(b)(c) 55,036,328   45,853,100  
    Accumulated other comprehensive income   25,736,645   10,448,614  
    Accumulated deficit   (87,829,083)   (84,726,082)  
    Total shareholders’ equity   113,270,628   84,662,087  
    Total liabilities and shareholders’ equity   137,128,716   103,868,981  
           
    DMG Blockchain Solutions Inc.  
    Condensed Consolidated Interim Statements of Income (Loss) and Comprehensive Income (Loss)  
    (Expressed in Canadian Dollars, except for number of shares)  
    (Unaudited)  
        For the three months ended December 31,
     
      Notes 2024   2023  
        $
      $
     
    Revenue 19 11,632,825   9,690,764  
           
    Expenses      
    Operating and maintenance costs 20(a) 6,679,843   5,147,651  
    General and administrative 20(b) 1,836,680   886,061  
    Stock-based compensation 17(b) 678,528   368,494  
    Research 20(c) 553,964   438,179  
    Bad debt (recovery) expense 6 (4,743)   3,764  
    Depreciation 12 4,349,470   4,341,782  
    Total expenses   14,093,742   11,185,931  
           
    Operating loss before other items   (2,460,917)   (1,495,167 )
           
    Other income (expense)      
    Interest and other income 7 164,302   165,781  
    Impairment of non-current assets   37,819    
    Foreign exchange loss   (909,388)   (94,585)  
    Loss on fair value of investments 10   (609,120)  
    Provision of sales tax receivable 6 (307,739)   (253,900)  
    Unrealized revaluation gain on digital currency 5 28,083   8,162,860  
    Realized gain on sale of digital currency   301,809   851,870  
    Gain on change in fair value of marketable securities 8 43,030   244,751  
    Net income (loss)   (3,103,001 ) 6,972,490  
           
    Other comprehensive income      
    Items that may be reclassified subsequently to income or loss:      
    Revaluation gain on digital assets 5 15,319,443    
    Cumulative translation adjustment   (31,412)   10,082  
    Net income and comprehensive income   12,185,030   6,982,572  
           
    Basic earnings (loss) per share 17(d) $(0.02)   $0.04  
    Diluted earnings (loss) per share 17(d) $(0.02)   $0.04  
    Weighted average number of shares outstanding 17(d)    
    – basic   185,799,634   168,147,570  
    – diluted   185,799,634   170,175,939  

                                                                                                                         

    DMG Blockchain Solutions Inc.    
    Condensed Consolidated Interim Statements of Cash Flows    
    (Expressed in Canadian Dollars)    
    (Unaudited)    
    For the three months ended December 31, 2024   2023  
      $   $  
    OPERATING ACTIVITIES    
    Net income (loss) for the period (3,103,001)   6,972,490  
    Non-cash items:    
    Accretion 1,867   11,460  
    Depreciation 4,349,472   4,338,369  
    Share-based payments 678,528   368,494  
    Unrealized gain on revaluation of digital currency (28,083)   (8,162,861)  
    Unrealized foreign exchange (gain) loss 926,984   (16,272)  
    Impairment of non-current assets (37,819)    
    Unrealized gain on marketable securities (43,030)   (244,751)  
    Impairment of investment   609,120  
    Provision for sales tax receivable 307,739   253,900  
    Bad debt (recovery) expense (4,743)   3,764  
    Digital currency related revenue (11,266,187)   (8,744,492)  
    Digital currency sold 7,305,976   9,445,176  
    Realized gain on sale of digital currency (301,809)   (851,870)  
    Non-cash interest income (164,302)   (164,632)  
    Accrued interest 329,604    
         
    Changes in non-cash operating working capital:    
    Prepaid expenses and other current assets (65,745)   30,629  
    Amounts receivable (101,051)   (781,682)  
    Deferred revenue 7,355   14,302  
    Trade and other payables (1,523,145)   668,276  
    Net cash (used in) provided by operating activities (2,731,390)   3,749,420  
         
    INVESTING ACTIVITIES    
    Purchase of property and equipment (343,976)   (381,773)  
    Purchase of intangible assets (276,040)    
    Deposits on mining equipment (9,554,087)   (2,570,515)  
    Purchase of short-term investment (5,516,500)   (609,120)  
    Refund of security deposit 457,325    
    Net cash used in investing activities (15,233,278)   (3,561,408)  
         
    FINANCING ACTIVITIES    
    Proceeds from issuance of units 17,254,945    
    Share issuance costs (1,570,875)    
    Proceeds from option exercises 60,913   269,776  
    Principal lease payments (15,356)   (45,276)  
    Repayment of loan payable (1,000,000)    
    Proceeds from secure loan 5,829,013    
    Net cash provided by financing activities 20,558,640   224,500  
         
    Impact of currency translation on cash and cash equivalents 501   (206)  
    Cash and cash equivalents, change 2,594,473   412,306  
    Cash and cash equivalents, beginning 1,679,060   1,789,913  
    Cash and cash equivalents, end 4,273,533   2,202,219  
             

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

    Cautionary Note Regarding Forward-Looking Information

    This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding the planned conference call, DMG’s strategies and plans, increasing hashrate and the anticipated timelines, the expected arrival and operation of the hydro miners and containers, growing the Company’s hashrate to 2.1 EH/s by March 2025, the development of Systemic Trust including generating revenues, the potential for a 10-megawatt prefabricated data center in addition to the MOU to establish a potential joint venture with the Malahat Nation for 30 megawatts of AI compute capacity, improving fleet efficiency and continuing to execute on Core+ software initiatives, onboarding of new clients to Terra Pool, the opportunity and plans to monetize bitcoin transactions, the continued investment in Bitcoin network software infrastructure and applications, developing and executing on the Company’s products and services, increasing self-mining, efforts to improve the operation of its mining fleet, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.

    Future changes in the Bitcoin network-wide mining difficulty or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate and mining difficulty.

    Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; security threats, including a loss/theft of DMG’s bitcoin; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.

    Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.

    The MIL Network

  • MIL-OSI Canada: AHS third-party investigation: DM McPherson

    “While serving as Acting Deputy Minister of Executive Council, Premier Danielle Smith asked me to establish a credible, independent, third-party investigation into the procurement processes used by the Government of Alberta and AHS and their outcomes.

    “I have informed Premier Smith that the Honourable Raymond E. Wyant, former Chief Judge of the Provincial Court of Manitoba, will lead this investigation. I asked Premier Smith to issue a ministerial order to facilitate his work and she has done so. Judge Wyant’s work on this matter begins immediately.

    “Judge Wyant was appointed to the Manitoba bench in 1998 before becoming Chief Judge in 2002. Prior to his service on the bench, Judge Wyant worked as a criminal defence lawyer and Crown attorney and was acting deputy director of Manitoba prosecutions at the time of his appointment to the Bench. He has also taught law for many years at Robson Hall at the University of Manitoba.

    “Judge Wyant will review the relevant legislation, regulations and policies related to procurement typically used by Government of Alberta departments and agencies, specifically AHS, and their application to the procurement of pharmaceuticals and to services offered by chartered surgical facilities. Questions that Judge Wyant will consider are outlined in the attached terms of reference, and include whether or not any elected official, Government of Alberta or AHS employee, or other individuals, acted improperly during the procurement processes. Judge Wyant will make recommendations to the government for improvement or further action as appropriate.

    “Appointed under the Government Organization Act, Judge Wyant will operate independently of government. The Government of Alberta will provide Judge Wyant with access to all relevant documents held by its departments and AHS, as well as facilitate interviews with relevant individuals. 

    “Judge Wyant has been given a budget of $500,000 to undertake this important work, including to retain legal and audit assistance at his discretion. He is being paid $31,900 per month, which is the same remuneration rate as the Chief Justice of the Alberta Court of Justice.

    “To ensure additional independence, Service Alberta and Red Tape Reduction will hold the budget for this third-party investigation.  

    “Judge Wyant will deliver an interim written report by May 30, 2025. A final written report and recommendations will be delivered by June 30, 2025, and it will be posted on alberta.ca.”

    Related information

    • Ministerial Order and Terms of Reference
    • Biography of Judge Raymond E. Wyant

    MIL OSI Canada News

  • MIL-OSI: Brookfield Announces Reset Dividend Rate on Its Series 38 Preference Shares

    Source: GlobeNewswire (MIL-OSI)

    All amounts in Canadian dollars unless otherwise stated.

    BROOKFIELD, NEWS, March 03, 2025 (GLOBE NEWSWIRE) — Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today announced that it has determined the fixed dividend rate on its Cumulative Class A Preference Shares, Series 38 (the “Series 38 Shares”) (TSX: BN.PF.E) for the five years commencing April 1, 2025 and ending March 31, 2030.

    If declared, the fixed quarterly dividends on the Series 38 Shares during the five years commencing April 1, 2025 will be paid at an annual rate of 5.185% ($0.3240625 per share per quarter).

    Holders of Series 38 Shares have the right, at their option, exercisable not later than 5:00 p.m. (Toronto time) on March 17, 2025, to convert all or part of their Series 38 Shares, on a one-for-one basis, into Cumulative Class A Preference Shares, Series 39 (the “Series 39 Shares”), effective March 31, 2025. The quarterly floating rate dividends on the Series 39 Shares will be paid at an annual rate, calculated for each quarter, of 2.55% over the annual yield on three-month Government of Canada treasury bills. The actual quarterly dividend rate in respect of the April 1, 2025 to June 30, 2025 dividend period for the Series 39 Shares will be 1.34331% (5.388% on an annualized basis) and the dividend, if declared, for such dividend period will be $0.3358275 per share, payable on June 30, 2025.

    Holders of Series 38 Shares are not required to elect to convert all or any part of their Series 38 Shares into Series 39 Shares.

    As provided in the share conditions of the Series 38 Shares, (i) if Brookfield determines that there would be fewer than 1,000,000 Series 38 Shares outstanding after March 31, 2025, all remaining Series 38 Shares will be automatically converted into Series 39 Shares on a one-for-one basis effective March 31, 2025; and (ii) if Brookfield determines that there would be fewer than 1,000,000 Series 39 Shares outstanding after March 31, 2025, no Series 38 Shares will be permitted to be converted into Series 39 Shares. There are currently 7,906,132 Series 38 Shares outstanding.

    The Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the Series 39 Shares effective upon conversion. Listing of the Series 39 Shares is subject to Brookfield fulfilling all the listing requirements of the TSX.

    About Brookfield Corporation

    Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

    We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

    For more information, please visit our website at www.bn.brookfield.com or contact:

    Media: Investor Relations:
    Kerrie McHugh Katie Battaglia
    Tel: (212) 618-3469 Tel: (212) 776-2252
    Email: kerrie.mchugh@brookfield.com Email: katie.battaglia@brookfield.com

    The MIL Network

  • MIL-OSI: Petrus Resources Declares Monthly Dividend for March 2025

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 03, 2025 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to confirm that its Board of Directors has declared a monthly dividend in the amount of $0.01 per share payable March 31, 2025, to shareholders of record on March 17, 2025. The dividend is designated as an eligible dividend for Canadian income tax purposes.

    Dividend Reinvestment Plan (“DRIP”)
    Petrus’ DRIP enables eligible shareholders to reinvest all or part of their cash dividends into additional common shares of the Company. Participation in the DRIP is optional. Eligible shareholders who elect to reinvest their cash dividends under the DRIP will receive common shares issued from treasury at a discount of 3% from the market price of the common shares.

    To participate in the DRIP, registered shareholders must deliver a properly completed enrollment form to Odyssey Trust Company (“Odyssey”) before 4:00 p.m. (Calgary time) on the 5th business day immediately preceding a dividend record date. Beneficial shareholders who wish to participate in the DRIP should contact their broker or other nominee through which their Common Shares are held to determine their eligibility and provide appropriate enrollment instructions. Participation by shareholders that are not resident in Canada may be restricted.

    A complete copy of the DRIP is available on the Company’s website at www.petrusresources.com and on Odyssey’s website at https://odysseytrust.com/faq/. A copy of the enrollment form for use by registered shareholders is available on Odyssey’s website at https://odysseytrust.com/faq/. For further information regarding the DRIP, please contact Odyssey at 1-888-290-1175 (Toll free in North America) or 1-587-885-0960.

    ABOUT PETRUS
    Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta.

    FOR FURTHER INFORMATION PLEASE CONTACT:
    Ken Gray
    President and Chief Executive Officer
    T: 403-930-0889
    E: kgray@petrusresources.com

    The MIL Network