NewzIntel.com

Category: Economy

  • MIL-OSI Economics: Payments System Board Update: March 2025 Meeting

    Source: Reserve Bank of Australia

    At its meeting today, the Payments System Board discussed a number of issues, including:

    • CHESS batch failure incident. Members discussed the issues that contributed to the CHESS batch failure incident on 20 December 2024. The Board viewed the disruption this caused to clearing and settlement of cash equities as a major operational incident. As the RBA had highlighted for some time that ASX’s aging assets, including CHESS, were raising the risk of operational disruptions to critical financial infrastructure, members viewed the incident as deeply disappointing and resolved to take regulatory interventions to provide assurance that the ASX addresses related risks as a matter of priority. Further details on the RBA’s regulatory response to the incident will be published by the end of March.
    • Developments in the account-to-account payments system. The Board discussed the risks associated with the Australian payments industry’s intended decommissioning of the Bulk Electronic Clearing System (BECS) by a target date of 2030. BECS is currently Australia’s primary system for account-to-account payments – Australians rely on BECS for a wide range of critical payments including welfare, pension, salary and bill payments. The Board endorsed a set of recommendations designed to address the significant risks and challenges identified by the RBA.

      • Members agreed that the foundational next steps for industry should include: defining a vision for the target future state and strategic objectives for account-to-account payments in Australia, in collaboration with the Government and the RBA; comprehensive consideration of options for achieving that target future state; and establishing appropriate mechanisms for coordination and stakeholder engagement. A report detailing the findings and recommendations of the RBA’s risk assessment will be published later in March. Members requested an update on industry’s progress in implementing the recommendations in a year’s time.

      Members also discussed end-user costs for account-to-account payments in Australia, which highlighted potential impediments that end-users would face if they had to migrate away from BECS. Members agreed that greater pricing transparency was required from providers of these services to end-users. They expressed support for the RBA establishing a robust pricing data collection to support future policy deliberations.

    • Review of Retail Payments Regulation. The Board considered the arguments for and against various policy options on merchant card payment costs and surcharging, informed by a wide range of views from stakeholder submissions. The Board is actively exploring options to promote the public interest by supporting safety, competition and efficiency in the payments system. Members agreed to release a consultation paper in mid-2025 that will outline the Board’s preferred policy options and seek further feedback.
    • International and domestic work on central bank digital currencies. Members discussed the ongoing program of international and domestic research on CBDCs. Domestically, the RBA has a collaborative research project underway, Project Acacia, which is investigating how innovations in wholesale digital money could support tokenised asset settlement. The project team is currently reviewing expressions of interest from industry participants wanting to collaborate in the testing of settlement models as part of the applied research phase taking place this year. An Industry Advisory Group has also recently been launched to support the project. Members also discussed the Bank’s plans to use focus groups to explore whether there are unmet payment needs that could be satisfied with a retail CBDC in Australia. This work is expected to take place in the second half of the year.

    MIL OSI Economics –

  • MIL-OSI China: World’s tallest bridge in Guizhou nearing completion

    Source: China State Council Information Office 2

    An aerial panoramic drone photo shows a view of the Huajiang Grand Canyon Bridge in southwest China’s Guizhou, Jan. 14, 2025. [Photo/Xinhua]
    The Huajiang Grand Canyon Bridge in Guizhou province, set to become the world’s tallest bridge, is 95 percent complete, with installation of the bridge deck panels expected to finish by mid-March, a deputy to China’s top legislature said during the ongoing two sessions.
    Zhang Shenglin, a deputy to the 14th National People’s Congress, said the bridge’s main structure was completed in January, and engineers have overcome key technical challenges. The focus has now shifted to installing the deck, followed by anti-corrosion work on the main cables and infrastructure projects such as mechanical and electrical equipment.
    “When the bridge opens in the second half of 2025, this super project spanning the ‘Earth’s crack’ will showcase China’s engineering capabilities and boost Guizhou’s goal of becoming a world-class tourist destination,” said Zhang, who is also chief engineer of Guizhou Highway Engineering Group Co.
    The bridge’s main span stretches 1,420 meters, with a height of 625 meters from deck to water — comparable to a 200-story building — surpassing the 565-meter-high Beipanjiang Bridge as the world’s tallest.
    It is also the world’s longest span bridge to be built in a mountainous area.
    “Its steel trusses weigh about 22,000 metric tons — the equivalent of three Eiffel Towers — and were installed in just two months,” said Zhang.
    The bridge connects Liuzhi to Anlong and is a key link in southwestern China’s highway network. Once operational, it will cut cross-river travel time from about two hours to just two minutes.
    Beyond transportation benefits, Zhang said the bridge is expected to boost the local economy by promoting sales of agricultural products and ethnic handicrafts, as well as encouraging development of homestays and restaurants. At a nearby village, more than 100 young people have returned to their hometown to invest in tourism projects such as cliff hotels and camping sites, she said.
    The Guizhou Transportation Investment Group, responsible for the bridge’s “integrated development of bridge and tourism” program, said it is seeking investment from companies and individuals.
    The project includes the Yundu service center, a commercial complex spanning 21,100 square meters with dining, shopping, entertainment and tourism facilities. The development plan features 13 subcategories, including sightseeing suspension bridges, canyon cable cars, rock climbing, food markets, cultural products, resort hotels, holiday campsites and sky cafes, the company said.

    MIL OSI China News –

  • MIL-OSI USA: Cramer Questions Nominees at EPW Hearing on American Excellence Compared to Global Polluters

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)
    Click here for audio. Click here for video
    WASHINGTON, D.C. – The Senate Environment and Public Works (EPW) Committee held a hearing today to consider the nominations of David Fotouhi to serve as Deputy Administrator of the Environmental Protection Agency (EPA) and Aaron Szabo to serve as Assistant Administrator for the Office of Air and Radiation of the EPA.
    Fotouhi served in the EPA as Acting General Counsel during the first Trump administration. Szabo previously served on the Nuclear Regulatory Commission and the Council on Environmental Quality. 
    U.S. Senator Kevin Cramer (R-ND) questioned the witnesses on the difference between the United States’ leadership in emissions compared to the rest of the world. Even as the U.S. grows its economy, manufacturing base, and energy sector, emissions have been reduced. In particular, emissions from the energy sector over the last 20 years have sharply decreased. As Szabo explained in his opening statement, since the enactment of Clean Air Act in 1970, “the United States has made remarkable progress in reducing air pollution. We have seen significant decreases in carbon monoxide, sulfur dioxide, lead, ground level, ozone, particulate matter, and other hazardous air pollutants.”
    [embedded content]
    Cramer asked Szabo and Fotohui about why companies would invest in the U.S. if there is a noncompetitive regulatory environment and how the United States measures up.
    “This isn’t going to be shocking anyone, but we have significantly decreased, both our greenhouse gas and traditional air pollution emissions tremendously, especially over the past 20 years,” said Szabo. “Other countries, such as China, have significantly increased their greenhouse gas emissions as well as their traditionally air pollution emissions over the years. What we are seeing now actually is that international emissions, […] traditional air pollution from China impacts states like California, due to the transport from the Pacific. Generally, if we shut off all greenhouse gas emissions in this country tomorrow, that would not have any real impact with the increases that we’ve seen from other countries around the world, specifically China.”
    “American greenhouse gas emissions have decreased by something like a million tons per year while China’s have increased by something like six to seven million tons per year, completely swamping our hard-earned reductions in greenhouse gas emissions,” responded Fotohui. “So I think, to the extent there needs to be work to be done to address that issue, it needs to be done both domestically and globally.”

    MIL OSI USA News –

  • MIL-OSI USA: Kaine, Britt, Carbajal, Lawler Lead Introduction of Bipartisan, Bicameral Proposal to Make Child Care More Affordable

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

    WASHINGTON, D.C. – Yesterday, U.S. Senators Tim Kaine (D-VA) and Katie Britt (R-AL) and U.S. Representatives Salud Carbajal (D-CA-24) and Mike Lawler (R-NY-17) introduced the Child Care Availability and Affordability Act and the Child Care Workforce Act—bipartisan, bicameral legislation that form a bold proposal to make child care more affordable and accessible by strengthening existing tax credits to lower child care costs and increase the supply of child care providers. Over the last few decades, the cost of child care has increased by 263%, forcing families to make impossible choices. More than half of all families live in child care deserts. Meanwhile, child care workers are struggling to make ends meet on the poverty-level wages they are paid and child care providers are struggling to simply stay afloat. The crisis—which was exacerbated by the pandemic—is costing our economy, resulting in $122 billion in economic losses each year.

    “The child care crisis is holding our families and economy back. I hear from Virginia parents all the time about how hard it is to find affordable child care, from child care providers who are forced to leave their jobs because of low wages, and from businesses who are having trouble finding the employees they need,” said Kaine. “I’m proud to join my colleagues in introducing this bipartisan legislation, and I hope more of my colleagues will join us in passing this comprehensive proposal to support child care providers, make it easier for families to access the care they need, and boost economic growth by providing parents with the opportunity to get back into the workforce.”

    “We applaud Sens. Britt and Kaine and Reps. Lawler and Carbajal for their bipartisan, bicameral efforts to identify innovative and impactful policy solutions that will increase access to quality child care for America’s working families, bolstering the workforce and economy. These two bills mark a major milestone to begin addressing employer and employee needs, as well as supply-side issues that impact the availability of care,” says Bipartisan Policy Center Action President Michele Stockwell.

    “The Child Care Availability and Affordability Act and the Child Care Workforce Act is forward-thinking legislation that will tackle the child care challenges plaguing too many working parents, employers, and providers,” said First Five Years Fund Executive Director Sarah Rittling. “By refining tax credits and expanding access, this plan will deliver real relief to countless families. We’re grateful to Senators Britt, Kaine, Ernst, and Shaheen for their leadership in finding bipartisan and practical solutions that put working families first.”

    Kaine has long been pushing to expand access to child care. In 2023, he introduced the Child Care Stabilization Act to expand vital child care funding to help providers keep their doors open, and has championed the Child Care for Working Families Act to expand access to child care, raise wages for providers, and lower costs for families by ensuring no family pays more than 7% of their income on child care. He has also introduced bipartisan legislation to develop, administer, and evaluate early childhood education apprenticeships.

    The proposal contains two bills because one proposes changes to existing tax credits, falling under the jurisdiction of the Senate Finance Committee, and the other authorizes a new pilot program, falling under the jurisdiction of the Senate HELP Committee.

    Child Care Availability and Affordability Act

    The Child Care Availability and Affordability Act would make child care more affordable by:

    • Increasing the size of the Child and Dependent Care Tax Credit (CDCTC) and making it refundable, allowing lower income working families with out-of-pocket child care expenses to benefit from the credit for the first time. The proposal substantially expands the maximum CDCTC to $2,500 for families with one child and $4,000 for families with two or more children.
    • Strengthening the Dependent Care Assistance Program (DCAP) to allow families to deduct 50% more in expenses (up to $7,500).
    • Allowing eligible families to benefit from both the DCAP and the CDCTC when their child care expenses exceed the DCAP threshold. This will have big benefits for middle income families who currently do not access the CDCTC but have particularly high child care costs.
    • Radically bolstering the underutilized Employer-Provided Child Care Tax Credit—commonly referred to as 45F—to encourage businesses to provide child care to their employees. The Kaine-Britt plan would increase the maximum credit from $150,000 to $500,000, and the percentage of expenses covered from 25% to 50%. The legislation also includes a larger incentive for small businesses—a maximum credit of $600,000—and allows for joint applications for groups of small businesses who want to pool resources.

    The Child Care Availability and Affordability Act is cosponsored by Senators Joni Ernst (R-IO), Jeanne Shaheen (D-NH), John Curtis (R-UT), Angus King (I-ME), Shelley Moore Capito (R-WV), Kirsten Gillibrand (D-NY), and Susan Collins (R-ME).

    The Child Care Availability and Affordability Act is endorsed by A+ Education Partnership, Abriendo Puertas/Opening Doors, Alabama Arise, Alabama School Readiness Alliance, American Hotel & Lodging Association (AHLA), Arizona Early Childhood Education Association, Big Blue Marble Academy, Bipartisan Policy Center Action (BPCA), Bright Horizons, Business Council of Alabama, Busy Bees North America, Care.com, Chamber of Progress, Chamber RVA, Child Care Aware of America (CCAoA), Child Care Aware of Virginia, Child Development Schools, Children’s Institute, Cincinnati Regional Chamber, Council for Professional Recognition, Early Care & Education Consortium (ECEC), Early Learning Policy Group, LLC, Eastern Shore Chamber of Commerce, Educare Learning Network, First Five Years Fund (FFYF), Gingerbread Kids Academy, Hampton Roads Chamber, Healthy Families America, Healthy Kids Alabama, Independent Restaurant Coalition, Jesuit Conference of the United States, Kaplan Early Learning Company, Kiddie Academy, KinderCare Learning Companies, Learning Care Group, Lightbright Academy, Low Income Investment Fund (LIIF), Manufacture Alabama, Metrix IQ, Mobile Area Education Foundation, Moms First, National Association of Women Business Owners (NAWBO), National Child Care Association (NCCA), North Carolina Licensed Child Care Association, Northern Virginia Chamber of Commerce (NVC), Ohio Association of Child Care Providers, Parents as Teachers National Center, Prevent Child Abuse America, Primrose Schools, Santa Barbara South Cost Chamber of Commerce, Small Business Majority, Small Business Majority, Start Early, Solvang Chamber of Commerce, Teaching Strategies, Texas Licensed Child Care Association, The Nest Schools, Third Way, U.S. Chamber of Commerce, Ventura Chamber of Commerce, Virginia Beach Vision, Virginia Chamber of Commerce, Virginia Early Childhood Foundation (VECF), VOICES for Alabama’s Children, Voices for Virginia’s Kids, and YMCA of the USA.

    Full text of the Child Care Availability and Affordability Act is available here.

    Child Care Workforce Act

    Because many child care providers are forced out of the industry by low wages—which makes it even harder for families to find affordable child care—the Child Care Workforce Act would make it easier to access child care, by establishing a competitive grant program for states, localities, Tribes, and Tribal organizations that are interested in adopting or expanding pay supplement programs for child care workers to increase supply and reduce turnover. Within that program:

    • Grantees would provide supplements, paid out at least quarterly, directly to both home-based and center-based licensed child care providers licensed by the state.
    • There would be a required evaluation of impacts on turnover, quality of child care, availability of affordable childcare, and alleviating the financial burden on child care providers. Model programs exist in Virginia, Nebraska, Oklahoma, Maine, and the District of Columbia, with evaluations demonstrating large effects on the supply of workers, educator turnover, and worker well-being and satisfaction.

    The Child Care Workforce Act is cosponsored by Senators Jeanne Shaheen (D-NH), Angus King (I-ME), and Kirsten Gillibrand (D-NY).

    The Child Care Workforce Act is endorsed by A+ Education Partnership, Abriendo Puertas/Opening Doors, Alabama Arise, Alabama School Readiness Alliance, Arizona Early Childhood Education Association, Big Blue Marble Academy, Bipartisan Policy Center Action (BPCA), Bright Horizons, Business Council of Alabama, Busy Bees North America, Care.com, Chamber of Progress, Chamber RVA, Child Care Aware of America (CCAoA), Child Care Aware of Virginia, Child Development Schools, Children’s Institute, Cincinnati Regional Chamber, Council for Professional Recognition, Early Care & Education Consortium (ECEC), Early Learning Policy Group, LLC, Eastern Shore Chamber of Commerce, Educare Learning Network, First Five Years Fund (FFYF), First Focus Campaign for Children, Gingerbread Kids Academy, Hampton Roads Chamber, Healthy Families America, Healthy Kids Alabama, Independent Restaurant Coalition, Jesuit Conference of the United States, Kaplan Early Learning Company, Kiddie Academy, KinderCare Learning Companies, Learning Care Group, Lightbright Academy, Low Income Investment Fund (LIIF), Manufacture Alabama, Metrix IQ, Mobile Area Education Foundation, Moms First, National Association for Family Child Care (NAFCC), National Association for the Education of Young Children (NAEYC), National Association of Women Business Owners (NAWBO), National Child Care Association (NCCA), National Council of Jewish Women, National Women’s Law Center (NWLC), North Carolina Licensed Child Care Association, Northern Virginia Chamber of Commerce (NVC), Ohio Association of Child Care Providers, Parents as Teachers National Center, Prevent Child Abuse America, Primrose Schools, Santa Barbara South Cost Chamber of Commerce, Small Business Majority, Small Business Majority, Start Early, Teaching Strategies, Texas Licensed Child Care Association, The Nest Schools, Third Way, UVentura Chamber of Commerce, Virginia Beach Vision, Virginia Chamber of Commerce, Virginia Early Childhood Foundation (VECF), VOICES for Alabama’s Children, Voices for Virginia’s Kids, YMCA of the USA, and ZERO TO THREE.

    Full text of the Child Care Workforce Act are available here.

    MIL OSI USA News –

  • MIL-OSI China: China to facilitate private firm financing

    Source: China State Council Information Office

    Li Yunze, head of the National Financial Regulatory Administration of China, gives an interview after the opening meeting of the third session of the 14th National People’s Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2025. [Photo/Xinhua]

    China will step up efforts to facilitate financing for private enterprises and micro and small enterprises, Li Yunze, head of the National Financial Regulatory Administration, said Wednesday.

    China will increase the supply of credit to private enterprises, and reduce overall financing costs to deliver more benefits to businesses, Li said on the sidelines of the ongoing session of the national legislature.

    Private enterprises account for over 92 percent of all companies in China, and their share in micro and small enterprises is even higher, Li noted.

    In a government work report unveiled Wednesday, China has pledged to refine and develop new structural monetary policy instruments to provide stronger support for private businesses and micro and small enterprises.

    Half a month before the annual sessions of China’s top legislature and political advisory body, China held a high-level symposium on private enterprises, sending a signal of strong support for private businesses.

    As part of its latest efforts to ramp up the growth of the private sector, the country is also advancing the private economy promotion law, in a move to dismantle barriers, unlock the sector’s full potential and create a fairer and more dynamic business environment. 

    MIL OSI China News –

  • MIL-OSI China: Officials explain why China’s 2025 growth target is attainable

    Source: China State Council Information Office

    An aerial drone photo taken on Aug. 28, 2024 shows an interior view of the digital factory at a manufacturing enterprise in Yinchuan, northwest China’s Ningxia Hui Autonomous Region. [Photo/Xinhua]

    China’s economic growth target of around 5 percent for this year is achievable, as it aligns with the country’s actual conditions and the laws governing economic development, an official said Wednesday.

    Achieving this target, however, will not be easy and will require tremendous efforts, said Shen Danyang, head of the group responsible for drafting this year’s government work report, which was submitted to the national legislature for deliberation earlier in the day.

    China’s momentum of economic recovery and growth continues to strengthen, said Shen, director of the Research Office of the State Council, at a press conference while outlining key factors that will support the country in achieving its 2025 growth target.

    China has introduced a package of new policies since September last year, leading to a notable economic rebound, with GDP growth rising to 5.4 percent in the fourth quarter of 2024, he noted.

    Since the beginning of 2025, key indicators such as the purchasing managers’ index for the manufacturing sector, property sales, and container throughput have all signaled a trend of steady economic growth in China, the official said.

    Shen emphasized that favorable conditions are actively supporting economic growth, with new industries and growth drivers rapidly expanding, including new energy vehicles, the photovoltaic sector, shipbuilding and artificial intelligence.

    Meanwhile, factors that were dragging down the economy, such as the real estate sector, are showing positive changes, and their adverse impacts are gradually weakening, he said.

    China plans to implement more proactive and effective macro policies this year, the likes of which have not been seen in many years, and these are expected to provide a strong boost to economic growth, according to Shen.

    There are still options available in China’s policy toolkit, and macro policies will be dynamically adjusted in response to evolving circumstances, he said.

    Emphasizing the role of employment in achieving the economic growth target, Shen said that particular efforts will be made to support the employment of 12.22 million college graduates this year, along with individuals lifted out of poverty and migrant workers.

    Shen also called for invigorating market entities and boosting enterprise confidence, particularly among private businesses. “Authorities will continue working to foster a favorable market environment for fair competition and expand financing support for private businesses, as well as micro and small enterprises.”

    Macro data shows that China has an annual consumption of nearly 50 trillion yuan (about 6.97 trillion U.S. dollars), investment exceeding 50 trillion yuan, and imports of goods and services surpassing 20 trillion yuan, demonstrating a massive economic scale, said Chen Changsheng, deputy director of the State Council Research Office.

    Chen said that building a unified national market requires removing barriers to economic flows and fully leveraging the market’s decisive role in resource allocation, in order to enhance government functions while ensuring smooth domestic economic circulation.

    Chen underlined the positive reassessment of Chinese assets in international capital markets, driven by the growth potential of AI.

    “This year’s government work report calls for advancing the AI Plus initiative. By combining China’s digital tech with its manufacturing prowess and market scale, AI can hopefully empower all industries and reach every household,” Chen said.

    MIL OSI China News –

  • MIL-OSI China: Trump grants one-month exemption to 3 automakers from Mexico, Canada tariffs

    Source: China State Council Information Office 3

    The White House said on Wednesday that U.S. President Donald Trump is granting a one-month exemption to three major automakers from the newly imposed 25-percent tariffs on Mexico and Canada.

    “We spoke with the big three auto dealers (makers), we are going to give a one-month exemption on any autos coming through USMCA. Reciprocal tariffs will still go into effect on April 2,” White House Press Secretary Karoline Leavitt told reporters at a press briefing.

    Levitt said Trump has spoken with three companies — Ford, General Motors, and Stellantis — and they made this request. The president agreed to grant them a one-month tariff exemption.

    Bloomberg News reported earlier Wednesday that Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, “as a temporary reprieve following pleas from industry leaders.”

    The United States-Mexico-Canada Agreement (USMCA) is a trade agreement negotiated, signed, and ultimately enacted during Trump’s first term, aimed at replacing the former North American Free Trade Agreement (NAFTA).

    Under the USMCA, auto parts procurement must meet specific rules to qualify for duty-free treatment. These rules are designed to encourage regional production and sourcing within North America. For passenger vehicles and light trucks, at least 75 percent of the vehicle’s value must originate in North America, while the minimum requirement for heavy trucks is 70 percent.

    On Feb. 1, Trump signed an executive order imposing a 25-percent tariff on products imported from Mexico and Canada, with a 10 percent tariff increase on Canadian energy products. On Feb. 3, Trump announced a 30-day delay in implementing the tariffs on both countries and continued negotiations. According to this decision, the relevant tariff measures took effect on March 4.

    Trump on Tuesday night defended his tariff strategy when delivering an address to a joint session of Congress, but acknowledged that such policies will cause “a little disturbance.”

    Nevertheless, economists and observers have expressed deep concerns about the potential impact of tariffs on the U.S. economy.

    The Tax Foundation estimated that, without considering retaliatory measures, Trump’s 25 percent tariffs on Canada and Mexico, which went into effect Tuesday, will reduce long-term GDP by 0.2 percent, reduce hours worked by 223,000 full-time equivalent jobs, and reduce after-tax incomes by an average of 0.6 percent. 

    MIL OSI China News –

  • MIL-OSI Australia: ARENA welcomes new board member

    Source: Australian Renewable Energy Agency

    Overview

    • Category

      News

    • Date

      06 March 2025

    • Classification

    The Australian Renewable Energy Agency (ARENA) welcomes the announcement by the Minister for Climate Change and Energy, the Hon Chris Bowen MP, of a new appointment to the ARENA Board and the re-appointment of two existing board members.  

    Marianna O’Gorman and Stephen McIntosh have been re-appointed to the board for their second and third terms respectively. Ms O’Gorman will also step into the newly created Deputy Chair role.  

    Angela Karl is joining the ARENA Board for the first time.  

    The additional board seat and Deputy Chair position were established through amendments to the Australian Renewable Energy Act 2011.   

    Ms Karl has more than two decades of experience in investment and advisory services in the energy transition and more than a decade of merger and acquisition advisory experience at both JP Morgan and UBS, where she was the Australasian Head of Energy and Utilities Advisory.  

    Angela is currently Managing Director, Head of Energy Transition with HMC Capital and prior to that was Partner at QIC Global Infrastructure, where she held several positions, including Founding Director, Powering Australian Renewables Fund/Tilt Renewables.  

    ARENA Board Chair Justin Punch congratulated both Marianna and Stephen and welcomed Angela to the board, saying that her extensive experience in professional services and the clean energy transition will be invaluable as ARENA continues to support the global transition to net zero emissions.  

    “Australia’s shift to renewable energy, and ARENA’s role in facilitating it, requires bold and experienced leadership. Angela’s experience in investment and finance and her commitment to Australia’s net zero future make her an invaluable addition to the board,” said Mr Punch.  

    “The ongoing presence of Marianna and Stephen and new insight from Angela will help us to continue to drive innovation in renewable energy technologies, ensuring we can continue to have an impact and deliver on our investment priorities.”  

    ARENA’s Board has overall responsibility for the operations of the agency. It is a skills-based, decision-making body, responsible for recommending the agency’s annual general funding strategy to the Minister, setting investment priorities, overseeing the running of the organisation and approving project funding. 

    For more information on ARENA’s Board and structure, visit arena.gov.au. 

    ARENA media contact:

    media@arena.gov.au

    Download this media release (PDF 143KB)

    MIL OSI News –

  • MIL-OSI Economics: The IMF at Eighty

    Source: International Monetary Fund

    Keynote Speech by Deputy Managing Director Nigel Clarke
    at a Symposium on the Future of International Cooperation on the 80th Anniversary of the End of World War II
    Tokyo, Japan, March 6, 2025 

    March 5, 2025

    (As Prepared for Delivery)

    A very good morning to you all. Kudo-san: thank you so much for those kind words. It is a great pleasure to be here in Japan.

    Dear colleagues, let me begin by relaying Managing Director Kristalina Georgieva’s regret for not being able to be with us today. She was very much looking forward to her trip to Tokyo, and has asked me to share with you her best wishes.

    I would like to start with a deep note of appreciation for our host country: a pillar of regional and global stability, a tireless advocate of trade, a technology leader and innovator, and a nation proudly on the move. For the IMF, Japan is a true partner, always generous in its support for our work. To the people of Japan the IMF says: arigatō goza‑i‑mas—thank you.

    As this conference reflects on the state of the world 80 years after the end of World War Two, let me also salute the post-war rebirth of Japan. Who in 1945 could have imagined the economic miracle that would come—and the transformation of former foes into friends and allies? Living proof that prosperity and friendship can triumph.

    So much of the global progress of the post-war decades was the result of a grand experiment in economic cooperation whose roots traced back to a conference of forty nations at Bretton Woods, New Hampshire in July 1944. The core idea at Bretton Woods was both bold and simple: a system where interests would be secured not only by geopolitical heft, but by mutually beneficial cooperation. This is the core principle behind the creation of the IMF. It is the principle we still serve today.

    After the war, reconstruction progressed rapidly, giving rise to new structures, new jobs, new trade, and new members. In 1952, Japan and West Germany were welcomed into the IMF’s family of nations.

    The Fund played its designated part not so much by financing global reconstruction and development—that was the World Bank’s job—but by supporting financial stability. A system of regular peer review of national economic prospects and policies was transformed from the black ink of Article IV of our founding Treaty to a familiar and appreciated reality.

    And thus were established the three core functions of the IMF:

    • First, our macroeconomic surveillance, which would bring in many newly independent nations starting in the late 1950s, followed by the Russian Federation and all the nations of the former Soviet bloc in the 1990s, such that today it spans almost all countries—a global perspective unique to the Fund.
    • Second, our support for macroeconomic programs to restore economic and financial stability to countries rich and poor alike when in distress, combining agreed policy actions to remedy underlying economic weaknesses with IMF lending and reserve creation—the latter again being a unique capacity bestowed upon the Fund.
    • And third, our support for capacity development, most generously financed from the start by Japan, alongside others.

    Through the many post-war episodes of mistrust and confrontation, the IMF has always remained a place where governance works; where information and knowledge are freely exchanged; where policy lessons from one country are shared for the benefit of many others; where efficiency meets effectiveness; and where members at odds with each other sit at one table and discuss matters calmly. This is the tangible, everyday reality of the Fund.

    Over the years we have, of course, had both successes and failures, but I would argue that the former outnumber the latter. I think for instance of our programs with the UK in 1977, India in 1991, or Brazil in 2002, and indeed of the examples being set today by the former program countries of East Asia and the euro area. Successes, yet each difficult in its own way when crisis raged.

    As finance minister of Jamaica during difficult times, I had the opportunity to see the Fund in action from the other side of the table. It was obvious to me then—as it is now—that the IMF teams had the knowledge, the experience, and the systems. They knew what they were doing.

    At the Fund, one foundational reality is well understood: countries are not companies, and in hard times the hardships of the people must always be addressed. It is the IMF that provides the closest thing sovereign states have to a framework to secure a fresh start. It is a unique and vital function for the world.

    And rarely does the IMF see a quiet moment. Today, as we confront a world of low growth, high prices, and high debt, we are warning countries that there is no room for complacency on inflation; advising them on how best to rebuild their macroeconomic buffers for the new shocks that will inevitably come; and getting more granular in our engagement on policies to lift productivity and create better jobs.

    Colleagues, we are at a new time of great flux for the world economy, with many countries reassessing their approaches, including in the face of structural transformations related to technology, demographics, and energy. Across the globe, voters have voiced anger at high prices and, in some cases, mistrust for an internationalist system they perceive as elitist and exclusionary. A chasm has opened between aspiration and reality—and that, in part, is fueling a challenge to the old system, with all the attendant uncertainty.

    So let me conclude by sharing a few forward-looking thoughts on how, as the world navigates these choppy waters, the Fund can help steady the ship.

    Four points:

    • First, in a tightly interconnected world, stability matters to everybody. Our mandate to promote international monetary cooperation sits at the heart of what we do, and has never mattered more than now, after 80 years of ever-closer integration. Like a fireman who douses a fire in one house and thus saves the neighborhood, when the IMF helps stabilize one country, it helps all others—we know how easily something small can become something big. The Fund is a seasoned repository of knowledge on how to do this, and so we shall remain. Whether it be crisis prevention through surveillance, crisis management through policy advice and lending, or resilience through capacity development, stability will remain our core mission. This means helping countries to design well phased and well communicated plans for budget consolidation; to maintain effective monetary policies to contain inflation; to safeguard external stability; to ensure financial systems are robust; and much more. This is our bread and butter.
    • Second, growth requires stability and stability requires growth. Ultimately, the way to ensure that economies can create jobs for their people and shoulder debt is through robust trend growth. And here I mean growth built on productivity gains and efficient resource allocation, not temporary stimulus. At the IMF, helped by our new Advisory Council on Entrepreneurship and Growth, we intend to identify positive lessons wheresoever they may be, and share them across our membership—while also helping countries harness technological advancement, notably in AI. Smaller government footprints will help in some cases, as will smarter tax regimes, more efficient public spending and better infrastructure, stronger bankruptcy frameworks, simpler and better regulations, more flexible labor markets with strong social safety nets, and deeper, more liquid capital markets, including venture capital. It is a broad and ambitious agenda.
    • Third, stability requires global macroeconomic balance. The IMF’s purposes include not only facilitating the expansion of international trade to contribute to the promotion and maintenance of high levels of employment and real income, but helping ensure that trade growth is balanced. Yet we live in an imbalanced world, with excessive external surpluses for some countries and excessive deficits for others, potentially sowing the seeds of future instability. At the Fund we understand that external imbalances reflect domestic imbalances, with some countries consuming or investing too much and others too little: a challenge calling out for the concerted deployment of the full macroeconomic policy toolkit. These are deep-seated problems, reflecting policy-induced distortions, exchange rates, institutional depth, reserve currencies, demographics, wealth and income levels, technology, culture, history, and more. We will continue to work with our members to lessen the degree of disequilibrium in their international balances of payments.
    • Fourth and last, as the global system reconfigures, agility will be key. Already in recent years, as geoeconomic fragmentation set in, many countries coalesced into groupings of common interest. Now, the trend continues, with an increasing emphasis on regional trade and regional financing arrangements. In a variable-geometry world, the IMF will respond as needed, flexibly, including to serve regional needs and explore ways to strengthen the global financial safety net for the good of all. For 80 years, from the gold standard to flexible exchange rates, from engaging with advanced economies to rescuing emerging markets to supporting low-income countries, the Fund has responded to changing circumstances and evolved with the times. We will preserve this tradition.

    In these four points I am offering a vision of an IMF that will remain faithful to, and be guided by, its core purposes as laid out in our 191‑nation Articles of Agreement—yet will be nimble, responding to the changing environment as necessary so that we can continue to serve our membership to good effect. So without further ado, let me leave you to reflect, perhaps, on my four themes—stability, growth, balance, and agility—and how they can fit together to shape a Fund for our changing times.

    I look forward to hearing your discussions today—and will be particularly interested in hearing your thoughts on Japan’s role in this new world as a champion of regional and global economic cooperation.

    Thank you

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI Russia: The IMF at Eighty

    Source: IMF – News in Russian

    Keynote Speech by Deputy Managing Director Nigel Clarke
    at a Symposium on the Future of International Cooperation on the 80th Anniversary of the End of World War II
    Tokyo, Japan, March 6, 2025 

    March 5, 2025

    (As Prepared for Delivery)

    A very good morning to you all. Kudo-san: thank you so much for those kind words. It is a great pleasure to be here in Japan.

    Dear colleagues, let me begin by relaying Managing Director Kristalina Georgieva’s regret for not being able to be with us today. She was very much looking forward to her trip to Tokyo, and has asked me to share with you her best wishes.

    I would like to start with a deep note of appreciation for our host country: a pillar of regional and global stability, a tireless advocate of trade, a technology leader and innovator, and a nation proudly on the move. For the IMF, Japan is a true partner, always generous in its support for our work. To the people of Japan the IMF says: arigatō goza‑i‑mas—thank you.

    As this conference reflects on the state of the world 80 years after the end of World War Two, let me also salute the post-war rebirth of Japan. Who in 1945 could have imagined the economic miracle that would come—and the transformation of former foes into friends and allies? Living proof that prosperity and friendship can triumph.

    So much of the global progress of the post-war decades was the result of a grand experiment in economic cooperation whose roots traced back to a conference of forty nations at Bretton Woods, New Hampshire in July 1944. The core idea at Bretton Woods was both bold and simple: a system where interests would be secured not only by geopolitical heft, but by mutually beneficial cooperation. This is the core principle behind the creation of the IMF. It is the principle we still serve today.

    After the war, reconstruction progressed rapidly, giving rise to new structures, new jobs, new trade, and new members. In 1952, Japan and West Germany were welcomed into the IMF’s family of nations.

    The Fund played its designated part not so much by financing global reconstruction and development—that was the World Bank’s job—but by supporting financial stability. A system of regular peer review of national economic prospects and policies was transformed from the black ink of Article IV of our founding Treaty to a familiar and appreciated reality.

    And thus were established the three core functions of the IMF:

    • First, our macroeconomic surveillance, which would bring in many newly independent nations starting in the late 1950s, followed by the Russian Federation and all the nations of the former Soviet bloc in the 1990s, such that today it spans almost all countries—a global perspective unique to the Fund.
    • Second, our support for macroeconomic programs to restore economic and financial stability to countries rich and poor alike when in distress, combining agreed policy actions to remedy underlying economic weaknesses with IMF lending and reserve creation—the latter again being a unique capacity bestowed upon the Fund.
    • And third, our support for capacity development, most generously financed from the start by Japan, alongside others.

    Through the many post-war episodes of mistrust and confrontation, the IMF has always remained a place where governance works; where information and knowledge are freely exchanged; where policy lessons from one country are shared for the benefit of many others; where efficiency meets effectiveness; and where members at odds with each other sit at one table and discuss matters calmly. This is the tangible, everyday reality of the Fund.

    Over the years we have, of course, had both successes and failures, but I would argue that the former outnumber the latter. I think for instance of our programs with the UK in 1977, India in 1991, or Brazil in 2002, and indeed of the examples being set today by the former program countries of East Asia and the euro area. Successes, yet each difficult in its own way when crisis raged.

    As finance minister of Jamaica during difficult times, I had the opportunity to see the Fund in action from the other side of the table. It was obvious to me then—as it is now—that the IMF teams had the knowledge, the experience, and the systems. They knew what they were doing.

    At the Fund, one foundational reality is well understood: countries are not companies, and in hard times the hardships of the people must always be addressed. It is the IMF that provides the closest thing sovereign states have to a framework to secure a fresh start. It is a unique and vital function for the world.

    And rarely does the IMF see a quiet moment. Today, as we confront a world of low growth, high prices, and high debt, we are warning countries that there is no room for complacency on inflation; advising them on how best to rebuild their macroeconomic buffers for the new shocks that will inevitably come; and getting more granular in our engagement on policies to lift productivity and create better jobs.

    Colleagues, we are at a new time of great flux for the world economy, with many countries reassessing their approaches, including in the face of structural transformations related to technology, demographics, and energy. Across the globe, voters have voiced anger at high prices and, in some cases, mistrust for an internationalist system they perceive as elitist and exclusionary. A chasm has opened between aspiration and reality—and that, in part, is fueling a challenge to the old system, with all the attendant uncertainty.

    So let me conclude by sharing a few forward-looking thoughts on how, as the world navigates these choppy waters, the Fund can help steady the ship.

    Four points:

    • First, in a tightly interconnected world, stability matters to everybody. Our mandate to promote international monetary cooperation sits at the heart of what we do, and has never mattered more than now, after 80 years of ever-closer integration. Like a fireman who douses a fire in one house and thus saves the neighborhood, when the IMF helps stabilize one country, it helps all others—we know how easily something small can become something big. The Fund is a seasoned repository of knowledge on how to do this, and so we shall remain. Whether it be crisis prevention through surveillance, crisis management through policy advice and lending, or resilience through capacity development, stability will remain our core mission. This means helping countries to design well phased and well communicated plans for budget consolidation; to maintain effective monetary policies to contain inflation; to safeguard external stability; to ensure financial systems are robust; and much more. This is our bread and butter.
    • Second, growth requires stability and stability requires growth. Ultimately, the way to ensure that economies can create jobs for their people and shoulder debt is through robust trend growth. And here I mean growth built on productivity gains and efficient resource allocation, not temporary stimulus. At the IMF, helped by our new Advisory Council on Entrepreneurship and Growth, we intend to identify positive lessons wheresoever they may be, and share them across our membership—while also helping countries harness technological advancement, notably in AI. Smaller government footprints will help in some cases, as will smarter tax regimes, more efficient public spending and better infrastructure, stronger bankruptcy frameworks, simpler and better regulations, more flexible labor markets with strong social safety nets, and deeper, more liquid capital markets, including venture capital. It is a broad and ambitious agenda.
    • Third, stability requires global macroeconomic balance. The IMF’s purposes include not only facilitating the expansion of international trade to contribute to the promotion and maintenance of high levels of employment and real income, but helping ensure that trade growth is balanced. Yet we live in an imbalanced world, with excessive external surpluses for some countries and excessive deficits for others, potentially sowing the seeds of future instability. At the Fund we understand that external imbalances reflect domestic imbalances, with some countries consuming or investing too much and others too little: a challenge calling out for the concerted deployment of the full macroeconomic policy toolkit. These are deep-seated problems, reflecting policy-induced distortions, exchange rates, institutional depth, reserve currencies, demographics, wealth and income levels, technology, culture, history, and more. We will continue to work with our members to lessen the degree of disequilibrium in their international balances of payments.
    • Fourth and last, as the global system reconfigures, agility will be key. Already in recent years, as geoeconomic fragmentation set in, many countries coalesced into groupings of common interest. Now, the trend continues, with an increasing emphasis on regional trade and regional financing arrangements. In a variable-geometry world, the IMF will respond as needed, flexibly, including to serve regional needs and explore ways to strengthen the global financial safety net for the good of all. For 80 years, from the gold standard to flexible exchange rates, from engaging with advanced economies to rescuing emerging markets to supporting low-income countries, the Fund has responded to changing circumstances and evolved with the times. We will preserve this tradition.

    In these four points I am offering a vision of an IMF that will remain faithful to, and be guided by, its core purposes as laid out in our 191‑nation Articles of Agreement—yet will be nimble, responding to the changing environment as necessary so that we can continue to serve our membership to good effect. So without further ado, let me leave you to reflect, perhaps, on my four themes—stability, growth, balance, and agility—and how they can fit together to shape a Fund for our changing times.

    I look forward to hearing your discussions today—and will be particularly interested in hearing your thoughts on Japan’s role in this new world as a champion of regional and global economic cooperation.

    Thank you

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/03/05/sp030625-dmd-imfat80

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Australia: Australian Deputy PM: Press Conference – Melton

    Source: Minister of Infrastructure

    SAM RAE [FEDERAL MEMBER FOR HAWKE]: …We’re here in the seat of Hawk. I am Sam Rae, the Federal member for Hawke. I’m very happy to be here today. I’m joined by two wonderful ministers, the Federal Minister for Infrastructure, Minister Catherine King and the state minister, Minister Gabrielle Williams. And as you can see, I have a whole host of colleagues from both local government, state government and federal Labor with us here as well. And I’m going to run through – I’m going to look over my shoulder while I do it so I don’t miss anybody. We’ve got the Member for Melton, Steve McGhie here. We have Melton Mayor Steve Abboushi. We have Dr Phillip Zader from LeadWest. We have Brendan O’Connor, the Member for Gorton, a long standing member for Gorton. We have Alice Jordan-Baird, our fantastic new candidate for Gorton. And as I said, the two ministers who are here with us today, we’ve got a very exciting announcement about the Western Freeway. We stood here on the Western Freeway just before the last election. I stood here with Minister King, and we announced that the Labor government, state and federal, would work together to get a business case done to upgrade the Western freeway. And today is a very exciting announcement, building upon that, the delivery of that business case just before Christmas. So hand over to Minister King, great. Thanks so much.

    CATHERINE KING [MINISTER]: Thanks so much, Sam. And it’s terrific to be here with state and local government colleagues, because really, this is a partnership about how we actually get good infrastructure in place for our growing suburbs, and this is a terrific announcement today that we’re making alongside the Victorian Government. This is one of the busiest highways in the state. It is an incredibly important freight route. I live down the other end, down Ballarat end, and used to represent the people of Stawell. Sam and Alice and Brendan and Steve all live around this part of the world, and they know we’ve seen significant growth. There are thousands of people traveling on this road every single day, and the road hasn’t quite kept up with the amount of housing development that we’ve seen in this area. So today, we’re announcing $1.1 billion from the federal government, a decision of government to invest in the Western Highway, in particular, the billion dollars will go towards the Melton and Caroline Springs area, where we know there has been significant growth and there needs to be upgrades in order to keep up with the amount of housing than the amount of people using this road, that work has been underway. As Sam said, the business case has been completed. We needed to make sure we had a good understanding of what are the things that you can do to improve this corridor. $100 million is to go down to the other end of the highway, down to Brewery Tap Road, and there’s also work to be done on additional bridges. This brings the Commonwealth’s total investment in the Western Freeway, Western Highway, to just over $2 billion. We know how important this road is from a freight and logistics point of view, but we also know how important it is to be able to get people to work. I think all of us here use this road on a regular basis. We know what happens from 6am to 9:30am in the morning and when people are trying to get home, that tail back, getting back into Melton in particular, but the Rock Bank area, this is a significant and serious investment from the Albanese Labor Government to make sure we improve these corridors. I do want to particularly welcome both LeadWest and the Melton Council here today, who have been advocating alongside our state and federal members, Sam, Brendan and Steve as well, to advocate for this road project. And I’ll hand over to Gab for a minute, and then I think the mayor will say a few words, and then we’ll take some questions. Thanks, Gab.

    GABRIELLE WILLIAMS [STATE MINISTER FOR TRANSPORT INFRASTRUCTURE]: Thank you. Thanks, minister, and thank you for being here to make what is a wonderful announcement. And can I say how great it is for us as the Allan Labor government to have a partner in Canberra that has been something that has been missing in Victoria for the best part of 10 years. Victorians have been short changed to the tune of billions by successive Liberal National Coalition Governments, and finally, with the Albanese Government, we have a partner, a partner willing to work with us, willing to invest with us on the projects that matter most to Victorians. So, the $1.1 billion announced today is a very welcome investment in one of Melbourne’s fastest growing areas. People love living in the west, that’s the reality, and the population growth shows that. But as Minister King has outlined, we need to make sure that the surrounding infrastructure also keeps pace with that growth, and that we’re investing where it’s most needed, in our community, and out here in the west is a perfect example of that. Minister King also outlined that this has been a partnership with the state government for some time in doing that essential planning work to make sure that we understand where the priorities and the needs are along what is a very long stretch of road in the Western Highway all the way to Adelaide, and making sure that we can deliver the greatest value where it’s needed most. That work has allowed us now, with a funding commitment from the Commonwealth, to then fine tune and determine exactly what that will look like. Now that we’ve got the dollars attached, we can go back to that business case and look at the options that have been put forward in that and start to select our solutions and get moving, most importantly, on the project to deliver the congestion busting solutions that we know this project will deliver, making life easier for people in Melbourne’s west making that commute much easier, and basically catering to the growth that we know is taking place out here in Melbourne’s western suburbs. Can I also thank the many representatives we have here across local and state and federal governments, as well as LeadWest, we have an incredible team of advocates here in Melbourne’s west, those who live in their suburbs, they know their suburbs, and they know and understand the needs. And again, can I say a big thank you to the federal government for partnering with us, for being a part of the solution to being able to meet the growth in Melbourne’s outer suburbs, and for finally giving Victoria its fair share of infrastructure funding. Steve 

    STEVE ABBOUSHI [MAYOR OF MELTON]: Council is very thankful for the recent announcement for the $1.1 billion upgrade. We – it’s been – formed part of our main advocacy priorities for more than nine to 10 years. And finally, we’re seeing, you know, a western upgrade highway going to mean so much for our community. I’d like to thank the state and federal government for partnering with council. We would – we just had a meeting with residents last week around providing a voice for our community on their concerns to the Western Highway. Last year, we had the business case, and now we’ve got an announcement. So, this is what it means to partner, and this is what happens when you partner. It means that our community will see delivery, we’ll see safety. And we’re very, very thankful for this announcement, and we look forward to hearing more about what it means for our community. Thanks very much. 

    JOURNALIST: I’ve got some questions for Minister Catherine King, please. Can you provide us with a breakdown of the $1.1 billion? 

    CATHERINE KING: …So $1 billion is going on the Melton Caroline Springs area. And Minister Williams might talk a little bit more about the business case. There’s been a number of options put forward as part of the business case, and we’ll now go back and fine tune those, to select the projects, but to do a little bit of work to get there, but we’re not far off. And then there’s $100 million for Brewery Tap Road just as you head into Ballarat. And then there’s also $6.1 million to fix two bridges, one around Dadswell Creek and Dimboola is the other one. Those projects have been in planning for a while. They’re not they’re ready to go. They’ll start this year. And then, obviously, there is also money that is already in the Western Highway corridor. And so there’s a number of projects that will continue. There’s one down at Pykes Creek, and there’s further ones further down along Stawell. And those projects will continue as well. 

    JOURNALIST: And what will it actually improve? Is it like a few barriers or?

    CATHERINE KING: So, there’s a range of things. So obviously there’s some safety work that can be done fairly quickly. So that’s, you know, widening shoulders, looking at the road resurfacing where that needs to happen. But when you’re looking at things like as part of the project, when you’re looking at like, you know, more interchanges, they are a bit more complex and take a bit more time to do. But I might ask Minister Williams to talk about more of the data, sure.

    GABRIELLE WILLIAMS: and look in part, it’s a bit of a process question. So what we do when we partner with the Commonwealth to do the planning for this project is look at where, if you like, the biggest choking points were across the Western Highway, where population growth was, meaning that there was particularly acute points of congestion, and then therefore working out where the priorities were. What engineers tend to do is never come to the table with just one option, but come to the table with multiple different options for each priority site. What we can now do, though, that we have a financial commitment money on the table, is go back and start working through the options that we’ve been provided and ensuring that we’re choosing the best possible ones within our funding envelope, and making sure that we’ve got those priorities right now. So this cash injection of $1.1 billion and now allows us to get going and get shovels in the ground and make sure we’re choosing from those options, the best possible ones to meet the priorities that have been identified through that through that process. So Minister King has outlined where some of those, some of the other funding will go, in terms of Dimboola and Dadswell Bridge, and we will now be hard at work in partnership with the Commonwealth Government to go back to that, that planning that business case and then working out from the options that we’ve been provided, which ones will deliver the best outcomes for our communities out here in Melbourne’s west. 

    JOURNALIST: Sure, about the Brewery Tap Road. 

    GABRIELLE WILLIAMS: Yep, there’s some upgrades going there. 

    JOURNALIST: Can you go into more detail? 

    GABRIELLE WILLIAMS: I’ll tell you what I reckon Minister King is the expert on Brewery Tap Road.

    CATHERINE KING: So when, when, when the Western highway, it’s years ago now. So I’ve been driving this road for a long, long time. So there was always meant to be some treatment down at that Warrenheip section. And we know now that what’s happened there, you’ve got a service station. You’ve got a very old hotel on one side that’s now been closed but still utilised at certain times. You’ve got a school up in Warrenheip as well. You’ve got an industrial precinct. And what’s happening is, increasingly, we’ve got truck traffic using that intersection, crossing over the highway, and it’s really become quite a significant safety concern. We’ll have to work with the Victorian Government about this. Again, engineers have come up with a range of solutions for the particular site, but what we’re committing to as part of the $1.1 billion is $100 million to do both the planning, the early services work, and to really start to get moving, to try and deal with that intersection, which, again, has been, you know, really, one of the projects along the highway that has been needed for quite some time, but hasn’t had, but hasn’t had the funding to actually deliver an upgrade there. And that’s what we’re doing today. 

    JOURNALIST: just on the federal election coming up. Is this an attempt to sort of show up support for the government? 

    CATHERINE KING: Well, can I just remind people what’s happened here is that three years ago, both Labor federally and at the state, we weren’t in government, then came together and said, we know we’ve got a problem here. This isn’t a problem the previous LNP government had identified at all. They completely neglected the west, and in fact, neglected Victoria. When we came, and I’ll just remind people, when we came to office,  I think the investment from the federal government in Victoria was around about $17 billion. This announcement today brings it up to $24 billion. We’ve done that in a term of government. And so what we had three years ago was no one other than the Victorian Government, saying we got some problems here. Can you come and partner with us? So what we’ve done is do the business case, which we want to make sure we understand. How do you fix these problems? These are not new, but they are complex problems when you’ve got a highway of this nature that now is reaching capacity. And so we’ve started this work three years ago. This today, we’re making an announcement as a decision of government. We’re not in an election campaign yet that we are putting $1.1 billion now in to actually get this work progress. That’s what this is about, and a billion dollars will go a long way to addressing many of the problems along the highway that we’ve been working together on for some time now. 

    JOURNALIST: And just one more question for me, how concerned is the government about losing Labor votes in the Melbourne south and west? 

    CATHERINE KING: Well, can I just say that every seat matters. Every seat, whether it’s west, whether it’s in the east, whether it’s in Victoria or right the way across the country. We are very determined that the work that we have done as a country together to get the economy back on track, to make sure that we’re actually getting inflation down. We’re keeping people employed. We’re actually investing in the future. Every single seat matters. Every seat matters. The west matters. The east matters. But I know we have got the best member in Sam Rae. We’ve got the best candidate in Alice. She’s going to make an amazing member for Gorton, following, of course, in the footsteps of the fabulous – my fabulous friend and colleague, Brendan O’Connor, who I will miss dearly, but know is going to go on to wonderful things. We have got terrific advocates here in this community. And the only reason, the only reason this announcement is being made today is because the people behind me care about their communities. They care about the west, and we care about it, too.

    MIL OSI News –

  • MIL-OSI Australia: Press Conference – Melton

    Source: Australian Ministers for Regional Development

    SAM RAE [FEDERAL MEMBER FOR HAWKE]: …We’re here in the seat of Hawk. I am Sam Rae, the Federal member for Hawke. I’m very happy to be here today. I’m joined by two wonderful ministers, the Federal Minister for Infrastructure, Minister Catherine King and the state minister, Minister Gabrielle Williams. And as you can see, I have a whole host of colleagues from both local government, state government and federal Labor with us here as well. And I’m going to run through – I’m going to look over my shoulder while I do it so I don’t miss anybody. We’ve got the Member for Melton, Steve McGhie here. We have Melton Mayor Steve Abboushi. We have Dr Phillip Zader from LeadWest. We have Brendan O’Connor, the Member for Gorton, a long standing member for Gorton. We have Alice Jordan-Baird, our fantastic new candidate for Gorton. And as I said, the two ministers who are here with us today, we’ve got a very exciting announcement about the Western Freeway. We stood here on the Western Freeway just before the last election. I stood here with Minister King, and we announced that the Labor government, state and federal, would work together to get a business case done to upgrade the Western freeway. And today is a very exciting announcement, building upon that, the delivery of that business case just before Christmas. So hand over to Minister King, great. Thanks so much.

    CATHERINE KING [MINISTER]: Thanks so much, Sam. And it’s terrific to be here with state and local government colleagues, because really, this is a partnership about how we actually get good infrastructure in place for our growing suburbs, and this is a terrific announcement today that we’re making alongside the Victorian Government. This is one of the busiest highways in the state. It is an incredibly important freight route. I live down the other end, down Ballarat end, and used to represent the people of Stawell. Sam and Alice and Brendan and Steve all live around this part of the world, and they know we’ve seen significant growth. There are thousands of people traveling on this road every single day, and the road hasn’t quite kept up with the amount of housing development that we’ve seen in this area. So today, we’re announcing $1.1 billion from the federal government, a decision of government to invest in the Western Highway, in particular, the billion dollars will go towards the Melton and Caroline Springs area, where we know there has been significant growth and there needs to be upgrades in order to keep up with the amount of housing than the amount of people using this road, that work has been underway. As Sam said, the business case has been completed. We needed to make sure we had a good understanding of what are the things that you can do to improve this corridor. $100 million is to go down to the other end of the highway, down to Brewery Tap Road, and there’s also work to be done on additional bridges. This brings the Commonwealth’s total investment in the Western Freeway, Western Highway, to just over $2 billion. We know how important this road is from a freight and logistics point of view, but we also know how important it is to be able to get people to work. I think all of us here use this road on a regular basis. We know what happens from 6am to 9:30am in the morning and when people are trying to get home, that tail back, getting back into Melton in particular, but the Rock Bank area, this is a significant and serious investment from the Albanese Labor Government to make sure we improve these corridors. I do want to particularly welcome both LeadWest and the Melton Council here today, who have been advocating alongside our state and federal members, Sam, Brendan and Steve as well, to advocate for this road project. And I’ll hand over to Gab for a minute, and then I think the mayor will say a few words, and then we’ll take some questions. Thanks, Gab.

    GABRIELLE WILLIAMS [STATE MINISTER FOR TRANSPORT INFRASTRUCTURE]: Thank you. Thanks, minister, and thank you for being here to make what is a wonderful announcement. And can I say how great it is for us as the Allan Labor government to have a partner in Canberra that has been something that has been missing in Victoria for the best part of 10 years. Victorians have been short changed to the tune of billions by successive Liberal National Coalition Governments, and finally, with the Albanese Government, we have a partner, a partner willing to work with us, willing to invest with us on the projects that matter most to Victorians. So, the $1.1 billion announced today is a very welcome investment in one of Melbourne’s fastest growing areas. People love living in the west, that’s the reality, and the population growth shows that. But as Minister King has outlined, we need to make sure that the surrounding infrastructure also keeps pace with that growth, and that we’re investing where it’s most needed, in our community, and out here in the west is a perfect example of that. Minister King also outlined that this has been a partnership with the state government for some time in doing that essential planning work to make sure that we understand where the priorities and the needs are along what is a very long stretch of road in the Western Highway all the way to Adelaide, and making sure that we can deliver the greatest value where it’s needed most. That work has allowed us now, with a funding commitment from the Commonwealth, to then fine tune and determine exactly what that will look like. Now that we’ve got the dollars attached, we can go back to that business case and look at the options that have been put forward in that and start to select our solutions and get moving, most importantly, on the project to deliver the congestion busting solutions that we know this project will deliver, making life easier for people in Melbourne’s west making that commute much easier, and basically catering to the growth that we know is taking place out here in Melbourne’s western suburbs. Can I also thank the many representatives we have here across local and state and federal governments, as well as LeadWest, we have an incredible team of advocates here in Melbourne’s west, those who live in their suburbs, they know their suburbs, and they know and understand the needs. And again, can I say a big thank you to the federal government for partnering with us, for being a part of the solution to being able to meet the growth in Melbourne’s outer suburbs, and for finally giving Victoria its fair share of infrastructure funding. Steve 

    STEVE ABBOUSHI [MAYOR OF MELTON]: Council is very thankful for the recent announcement for the $1.1 billion upgrade. We – it’s been – formed part of our main advocacy priorities for more than nine to 10 years. And finally, we’re seeing, you know, a western upgrade highway going to mean so much for our community. I’d like to thank the state and federal government for partnering with council. We would – we just had a meeting with residents last week around providing a voice for our community on their concerns to the Western Highway. Last year, we had the business case, and now we’ve got an announcement. So, this is what it means to partner, and this is what happens when you partner. It means that our community will see delivery, we’ll see safety. And we’re very, very thankful for this announcement, and we look forward to hearing more about what it means for our community. Thanks very much. 

    JOURNALIST: I’ve got some questions for Minister Catherine King, please. Can you provide us with a breakdown of the $1.1 billion? 

    CATHERINE KING: …So $1 billion is going on the Melton Caroline Springs area. And Minister Williams might talk a little bit more about the business case. There’s been a number of options put forward as part of the business case, and we’ll now go back and fine tune those, to select the projects, but to do a little bit of work to get there, but we’re not far off. And then there’s $100 million for Brewery Tap Road just as you head into Ballarat. And then there’s also $6.1 million to fix two bridges, one around Dadswell Creek and Dimboola is the other one. Those projects have been in planning for a while. They’re not they’re ready to go. They’ll start this year. And then, obviously, there is also money that is already in the Western Highway corridor. And so there’s a number of projects that will continue. There’s one down at Pykes Creek, and there’s further ones further down along Stawell. And those projects will continue as well. 

    JOURNALIST: And what will it actually improve? Is it like a few barriers or?

    CATHERINE KING: So, there’s a range of things. So obviously there’s some safety work that can be done fairly quickly. So that’s, you know, widening shoulders, looking at the road resurfacing where that needs to happen. But when you’re looking at things like as part of the project, when you’re looking at like, you know, more interchanges, they are a bit more complex and take a bit more time to do. But I might ask Minister Williams to talk about more of the data, sure.

    GABRIELLE WILLIAMS: and look in part, it’s a bit of a process question. So what we do when we partner with the Commonwealth to do the planning for this project is look at where, if you like, the biggest choking points were across the Western Highway, where population growth was, meaning that there was particularly acute points of congestion, and then therefore working out where the priorities were. What engineers tend to do is never come to the table with just one option, but come to the table with multiple different options for each priority site. What we can now do, though, that we have a financial commitment money on the table, is go back and start working through the options that we’ve been provided and ensuring that we’re choosing the best possible ones within our funding envelope, and making sure that we’ve got those priorities right now. So this cash injection of $1.1 billion and now allows us to get going and get shovels in the ground and make sure we’re choosing from those options, the best possible ones to meet the priorities that have been identified through that through that process. So Minister King has outlined where some of those, some of the other funding will go, in terms of Dimboola and Dadswell Bridge, and we will now be hard at work in partnership with the Commonwealth Government to go back to that, that planning that business case and then working out from the options that we’ve been provided, which ones will deliver the best outcomes for our communities out here in Melbourne’s west. 

    JOURNALIST: Sure, about the Brewery Tap Road. 

    GABRIELLE WILLIAMS: Yep, there’s some upgrades going there. 

    JOURNALIST: Can you go into more detail? 

    GABRIELLE WILLIAMS: I’ll tell you what I reckon Minister King is the expert on Brewery Tap Road.

    CATHERINE KING: So when, when, when the Western highway, it’s years ago now. So I’ve been driving this road for a long, long time. So there was always meant to be some treatment down at that Warrenheip section. And we know now that what’s happened there, you’ve got a service station. You’ve got a very old hotel on one side that’s now been closed but still utilised at certain times. You’ve got a school up in Warrenheip as well. You’ve got an industrial precinct. And what’s happening is, increasingly, we’ve got truck traffic using that intersection, crossing over the highway, and it’s really become quite a significant safety concern. We’ll have to work with the Victorian Government about this. Again, engineers have come up with a range of solutions for the particular site, but what we’re committing to as part of the $1.1 billion is $100 million to do both the planning, the early services work, and to really start to get moving, to try and deal with that intersection, which, again, has been, you know, really, one of the projects along the highway that has been needed for quite some time, but hasn’t had, but hasn’t had the funding to actually deliver an upgrade there. And that’s what we’re doing today. 

    JOURNALIST: just on the federal election coming up. Is this an attempt to sort of show up support for the government? 

    CATHERINE KING: Well, can I just remind people what’s happened here is that three years ago, both Labor federally and at the state, we weren’t in government, then came together and said, we know we’ve got a problem here. This isn’t a problem the previous LNP government had identified at all. They completely neglected the west, and in fact, neglected Victoria. When we came, and I’ll just remind people, when we came to office,  I think the investment from the federal government in Victoria was around about $17 billion. This announcement today brings it up to $24 billion. We’ve done that in a term of government. And so what we had three years ago was no one other than the Victorian Government, saying we got some problems here. Can you come and partner with us? So what we’ve done is do the business case, which we want to make sure we understand. How do you fix these problems? These are not new, but they are complex problems when you’ve got a highway of this nature that now is reaching capacity. And so we’ve started this work three years ago. This today, we’re making an announcement as a decision of government. We’re not in an election campaign yet that we are putting $1.1 billion now in to actually get this work progress. That’s what this is about, and a billion dollars will go a long way to addressing many of the problems along the highway that we’ve been working together on for some time now. 

    JOURNALIST: And just one more question for me, how concerned is the government about losing Labor votes in the Melbourne south and west? 

    CATHERINE KING: Well, can I just say that every seat matters. Every seat, whether it’s west, whether it’s in the east, whether it’s in Victoria or right the way across the country. We are very determined that the work that we have done as a country together to get the economy back on track, to make sure that we’re actually getting inflation down. We’re keeping people employed. We’re actually investing in the future. Every single seat matters. Every seat matters. The west matters. The east matters. But I know we have got the best member in Sam Rae. We’ve got the best candidate in Alice. She’s going to make an amazing member for Gorton, following, of course, in the footsteps of the fabulous – my fabulous friend and colleague, Brendan O’Connor, who I will miss dearly, but know is going to go on to wonderful things. We have got terrific advocates here in this community. And the only reason, the only reason this announcement is being made today is because the people behind me care about their communities. They care about the west, and we care about it, too.

    MIL OSI News –

  • MIL-OSI USA: Wyden, Merkley, Colleagues Reaffirm Congress’ Authority to Maintain Trade Restrictions on Russia

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    March 05, 2025

    Washington D.C.—U.S. Senators Ron Wyden and Catherine Cortez Masto, D-Nev., today led Senate colleagues, including Senator Jeff Merkley, in a letter to Donald Trump reaffirming Congress’ authority to maintain trade restrictions on the Russian Federation while it continues its war of aggression against Ukraine. 

    “Vladimir Putin is a ruthless dictator who has led the Russian Federation into a war of aggression against Ukraine with the explicit goal of denying Ukraine and its people their collective rights to independence, sovereignty, and territorial integrity,” wrote the senators after Trump sandbagged talks between the United States and Ukraine last Friday and claimed Ukraine “should have never started [the war].”“Our country, in coordination with our allies and partners and with bipartisan support has imposed sweeping financial sanctions, stringent export controls, and aggressive trade restrictions on the Russian Federation.”

    In 2022, Congress passed the Suspending Normal Trade Relations with Russia and Belarus Act which revoked Russia’s permanent normal trade relations status to ensure Russian goods and services do not enjoy privileged, “most-favored nation” access to the U.S. market. Congress also passed the Ending Importation of Russian Oil Act which banned the importation of all energy products from the Russian Federation.

    According to these laws, the Russian Federation must reach an agreement relating to the withdrawal of its forces and cessation of military hostilities that is accepted by the free and independent government of Ukraine, recognize the right of the people of Ukraine to independently and freely choose their own government, and pose no immediate military threat of aggression to any NATO member before the president can restore normal trade relations.

    “In light of your worrisome statements, we wish to remind you that you must not—and cannot, under statute—attempt to restore normal trade relations or lift the import ban on Russian energy products unless and until Ukraine’s peace demands are met and their free and independent government has accepted a peace agreement,” continued the senators. “Ukraine must be at the table to determine its future, and conditions for peace cannot be imposed on Ukraine.”

    The letter was led by Wyden and Cortez Masto. In addition to Wyden, Cortez Masto and Merkley the letter was signed by Senators Michael Bennet, D-Colo., Amy Klobuchar, D-Minn., Gary Peters, D-Mich., Jacky Rosen, D-Nev., Chris Van Hollen, D-Md., Raphael Warnock, D-Ga., and Peter Welch, D-Vt.

    The full text of the letter is here.

    MIL OSI USA News –

  • MIL-OSI USA: Dr. Rand Paul Reintroduces Bipartisan Risky Research Review Act to Oversee Gain-of-Function Research

    US Senate News:

    Source: United States Senator for Kentucky Rand Paul

     FOR IMMEDIATE RELEASE:

    March 5, 2025

     Contact: Press_Paul@paul.senate.gov, 202-224-4343

    WASHINGTON, D.C. – Today, U.S. Senator Rand Paul (R-KY), Chairman of the Senate Homeland Security and Governmental Affairs Committee, reintroduced the bipartisan Risky Research Review Act, a first-of-its-kind proposal to establish a Life Sciences Research Security Board within the Executive Branch. This independent board will oversee the funding of gain-of-function research and other high-risk life sciences research that potentially poses a threat to public health, safety, or national security.

    “We must demand accountability for the grave oversights that were revealed by the COVID-19 pandemic. The safety of our nation and the trust in its institutions depend on it. My bill not only strengthens transparency but also ensures that public health decisions are made in the best interest of the American people, free from financial motives and prioritizing national security,” said Dr. Paul. 

    U.S. Senator Gary Peters (D-MI), Ranking Member of the Senate Homeland Security and Governmental Affairs Committee, is an original cosponsor of the legislation in the Senate. 

    “Life science research can yield breakthroughs that help protect the health of Americans, but it must be done with proper safeguards in place,” said Sen. Peters. “By creating an independent oversight agency, this bill will help maintain control of high-risk research, to ensure it’s effective, innovative, and safe.”

    U.S. Representative Morgan Griffith (R-VA-09), Chairman of the Energy and Commerce Committee’s Subcommittee on Environment, introduced the bill in the U.S. House of Representatives.

    “Gain-of-function research is reported to be a potential target of a future President Trump Executive Order. As someone who has extensively investigated COVID-19 origins and biosafety concerns in foreign labs, it is clear to me that greater oversight measures are needed to review gain-of-function research of concern and risky experiments that involve virus transmission in humans. The National Institutes of Health has proven they are not capable of properly reviewing risky research applications, as in the case of EcoHealth Alliance. I believe the Risky Research Review Act establishes crucial oversight measures to alleviate the legitimate and significant concerns of the American people, thus reestablishing trust in our public health agencies,” said Rep. Griffith.  

    The Life Sciences Research Security Board will serve as an independent body responsible for thoroughly evaluating gain-of-function research and other potentially harmful studies involving high-consequence pathogens. Currently, the funding and study of life sciences research lack sufficient government oversight, allowing American taxpayer dollars to be spent without proper safeguards. Dr. Paul’s legislation establishes a much-needed stringent review process for the board to assess high-risk research and decide whether tax dollars should support specific research proposals, ensuring accountability and strengthening transparency.

    The Risky Research Review Act will:

    1. Establish an Independent Oversight Board: Form a Life Sciences Research Security Board dedicated to protecting public health, safety, and national security by evaluating and issuing binding determinations on high-risk life sciences research proposals seeking federal funding.
    2. Define High-Risk Research: Specify high-risk life sciences research as studies with potential dangerous uses, or dual-use research of concern involving a high-consequence pathogen, or gain-of-function research.
    3. Ensure Board Independence: Position the board as an independent agency within the Executive Branch, consisting of one executive director, five non-governmental scientists, two national security experts, and one non-governmental biosafety expert, each serving up to two four-year terms.
    4. Restrict Funding Without Approval: Prohibit federal agencies from awarding funding for high-risk life sciences research without board approval.
    5. Mandate Majority Vote: Require a majority vote of board members to approve high-risk life sciences research.
    6. Empower the Board: Authorize the board to compel agencies to turn over necessary information and records, including classified information.
    7. Demand Full Disclosure: Require life sciences research grant applicants to declare if their research falls under high-risk life sciences categories or involves select agents or toxins.
    8. Automatic Referral: Mandate that all positive attestations are automatically referred to the board.
    9. Continuous Subcontract Disclosure: Require grant recipients to continuously disclose subcontracts or subawards to agencies, with agencies required to submit these disclosures to the board.
    10. Annual Reporting: The board will submit an annual report to the appropriate congressional committees and publish it online, summarizing determinations, findings, and information about entities and sub-awardees involved in high-risk life sciences research.

    You can read the Risky Research Review Act HERE. 

    MIL OSI USA News –

  • MIL-OSI USA: Dr. Paul Reintroduces Transparency Bill on Royalties Paid to Government Officials

    US Senate News:

    Source: United States Senator for Kentucky Rand Paul

     FOR IMMEDIATE RELEASE:

    March 5, 2025

     Contact: Press_Paul@paul.senate.gov, 202-224-4343

     

    WASHINGTON, D.C. –Today, U.S. Senator Rand Paul (R-KY), Chairman of the Senate Homeland Security and Governmental Affairs Committee, reintroduced his Royalty Transparency Act. This legislation increases transparency on royalty payments paid to Executive Branch officials and makes the financial disclosure forms public for federal advisory committee members such as the Advisory Committee on Immunization Practices. Under current law, federal employees are not required to publicly disclose the source or amount of royalty payments received in service of their official duties. Additionally, the financial disclosures of members of federal advisory committees are not available to the public, despite the fact that these committees make recommendations to federal agencies that have a significant impact on the day-to-day lives of Americans. This lack of transparency prevents taxpayers from holding individuals accountable within the federal government for conflicts of interest and other abuses.

    Dr. Paul’s legislation introduces long-overdue accountability by requiring Executive Branch employees to publicly disclose royalty payments for inventions developed during their employment with the federal government on their financial disclosure reports.

    “Distrust in public health officials is at an all-time high. One way to restore trust is to make sure that public policy isn’t influenced by personal gain,” said Dr. Paul. “The Royalty Transparency Act will allow more information to be seen by the public to ensure federal decision makers, and the policies they write, aren’t being influenced by the royalty payments they receive.”

    U.S. Senator Rick Scott (R-FL) is an original cosponsor of the legislation in the Senate. 

    “I am proud to support the Royalty Transparency Act, ensuring federal employees’ transparency and accountability to the American people,” said Sen. Rick Scott. “Under current law, bureaucrats like Anthony Fauci and NIH employees were able to receive millions in royalty payments from companies outside the federal government without requirements for reporting, raising serious questions about potential conflicts of interest and fueling distrust in the federal government. Our bill will bring much-needed transparency to these payments by requiring they be publicly reported, helping to hold bureaucrats accountable to the American people and restoring trust in the federal government.” 

    U.S. Representative Morgan Griffith (R-VA-09), Chairman of the Energy and Commerce Committee’s Subcommittee on Environment, introduced the bill in the U.S. House of Representatives.

    “For too long, federal bureaucrats concealed the royalties they received, who they were paid by, what they were compensated for and how much they were paid,” said Rep. Griffith. “As the Trump Administration ushers in a new era of transparency in our federal government, the Royalty Transparency Act will foster greater government transparency and accountability by requiring government officials in federal agencies to disclose the royalties that they receive as a result of their government service. I am excited to work with Senator Paul so we can shine a light on these royalties and hold federal bureaucrats to a greater standard of accountability.”

    For years, Dr. Paul has been working to expose the potential conflicts of interest that may arise when millions of dollars in royalties are paid to federal employees serving their official duties. In 2022, Dr. Paul spearheaded a letter with four other members of the Senate Homeland Security and Governmental Affairs Committee to the National Institutes of Health (NIH) requesting information on disclosures of royalty payments made by third-party providers to NIH employees. However, federal agencies, including NIH, have refused to release the information. Through litigation, Open the Books obtained redacted documents and uncovered that approximately 2,400 NIH scientists have been awarded over $300 million in royalties in the last decade, which translates to an average payment of $135,000 per scientist. Since NIH claims that it is not required to disclose this information, it’s still unknown how much each payment amounted to, or why a payment was made. Dr. Paul’s legislation aims to ensure that federal agencies, including NIH, cannot evade scrutiny from Congress and the public, holding federal employees to a higher standard of accountability.

    The Royalty Transparency Act mandates that royalty payments received by federal employees from the U.S. Government be disclosed in their financial reports. It also requires members of advisory committees, particularly those at risk of conflicts of interest due to royalties or other financial connections, to adhere to the same standards of financial disclosure as are prevalent across the government. Furthermore, the bill requires that public financial disclosures be made available online, increasing transparency for American taxpayers. The bill introduces greater congressional oversight over the financial disclosure process for executive branch employees and strengthens measures to prevent conflicts of interest in federal procurement.

    You can read the Royalty Transparency Act HERE.   

    MIL OSI USA News –

  • MIL-OSI NGOs: North Dakota Supreme Court denies Greenpeace entities’ petition for venue change in Energy Transfer SLAPP trial

    Source: Greenpeace Statement –

    Greenpeace USA brought a powerful visual campaign to the streets of Dallas, projecting messages around Dallas to highlight the growing threat to free speech and peaceful protest. © Ollie Harrop / Greenpeace

    Bismarck, ND (March 5, 2025) — The North Dakota Supreme Court today denied a petition by Greenpeace organizations in the US and Greenpeace International for a change of venue as they defend against the SLAPP case brought by Energy Transfer in Morton County.

    The North Dakota Supreme Court’s denial follows three prior denied motions to the Morton County court for change of venue. 

    “While we are disappointed with this outcome, we have always believed in the strength of our defense, and will continue to present our case,” said Greenpeace USA Senior Legal Advisor Deepa Padmanabha. “We trust that the jury will follow the facts and the law, and render a decision in our favor.” 

    “The fairness of a trial should be above any questioning. A jury drawn from a community heavily affected by the events Energy Transfer is attempting to blame on the defendants, shouldn’t bear the responsibility of deciding this case. It’s disappointing to learn the Supreme Court denied the motion, but we are confident in our defense and will continue to focus on winning at trial,” said Daniel Simons, Senior Legal Counsel, Greenpeace International.

    Contact: Madison Carter, Greenpeace USA Senior Communications Specialist, [email protected]

    Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

    MIL OSI NGO –

  • MIL-OSI Economics: Ensuring a Just Transition: African Development Bank Calls for Inclusive Climate Action at FICS 2025

    Source: African Development Bank Group
    The Just Transition was central to discussions during the just concluded Finance in Common Summit 2025. At the core of the concept is ensuring that Africa’s shift to a greener economy is not only environmentally responsible, but also socially and economically inclusive, accelerating solutions for sustainable…

    MIL OSI Economics –

  • MIL-OSI USA: Ernst Urges USDA to Deliver Relief to Iowa Turkey Farmers

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    WASHINGTON – U.S. Senator Joni Ernst (R-Iowa) joined the entire Iowa delegation to urge U.S. Secretary of Agriculture Brooke Rollins and the Acting Administrator of the Farm Service Agency Kimberly Graham to deliver critical financial relief for Iowa turkey farmers.
    In their letter, the lawmakers outlined the dire animal health crisis due to avian metapneumovirus (aMPV) that has caused flock losses from 30-50% since the fall of 2023, threatening producer stability and the broader national turkey supply.
    “Iowa’s sharp decline in turkey production is reflective of the national turkey industry at large. Despite devastating financial shortfalls and supply chain disruptions caused by aMPV, there are currently no federal assistance programs available to offset these devastating losses, leaving many family-owned operations at risk of closure. Without immediate support, the viability of these farms—and the stability of the U.S. turkey industry—is in jeopardy,” wrote the lawmakers.
    “To mitigate these losses and prevent future outbreaks, we urge the USDA Farm Service Agency (USDA-FSA) to consider determining aMPV as an eligible adverse event under the Livestock Indemnity Program so that our farmers can access much-needed financial relief to affected producers,” the lawmakers concluded.
    In 2024, an estimate of 569,700 turkeys in Iowa have been lost due to aMPV, and the ongoing spread of Highly Pathogenic Avian Influenza (HPAI) – a completely separate but deadly virus – has only been compounding the financial, physical, and mental strains on turkey producers.
    Read the full letter here.
    Background:
    Ernst has long been a champion of foreign animal disease prevention and preparedness efforts including the bipartisan Animal Disease and Disaster Prevention, Surveillance, and Rapid Response Act and her Beagle Brigade Act, which was recently signed into law.
    Following the increase in HPAI outbreaks in both Iowa poultry flocks and dairy herds, Ernst hasworked to hold federal agencies accountable to provide public and state agencies with coordinated, up-to-date, and accurate information on the spread of the virus.
    Last month, Ernst provided USDA with a blueprint for developing an effective plan to combat HPAI and protect Iowa poultry farmers. During a Senate Agriculture Committee hearing, Ernst directly raised the need for a vaccination strategy that takes trade into account and praised Secretary Rollins for hercomprehensive HPAI strategy. 

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Delivering on affordable homes

    Source: Scottish Government

    Funding to support housing infrastructure.

    A significant project to regenerate the Granton area of Edinburgh has received a grant of almost £16 million to enable the provision of new affordable, energy efficient homes.

    Part of the Scottish Government’s Housing Infrastructure Fund, the grant will allow the City of Edinburgh Council to undertake crucial infrastructure works in preparation for building 847 new homes, including 387 affordable homes. It is part of a wider package of financial support being developed by the Scottish Government at Granton Waterfront, reflecting the commitment to support seven strategic sites as part of the Edinburgh and South East Scotland City Region Deal.

    First Minister John Swinney visited the development to announce the funding and learn about how the project is progressing. He also had the opportunity to meet apprentices working on the construction site.

    The First Minister said:

    “This impressive development is transforming the Granton area of Edinburgh – through the development of new homes, improved infrastructure and low-carbon district heating solutions.

    “Public sector investment in the first phase of Granton Waterfront is estimated to leverage a further £200 million of private sector investment in private housing and the low carbon heat network.

    “The 2025-26 Budget has allocated more than £7 billion for infrastructure and £768 million to ramp up action on delivering affordable homes.

    “This development at Granton Waterfront is an excellent example of how Scottish Government investment is already delivering across my government’s four priorities – to eradicate child poverty, grow the economy, improve public services and protect the planet.”

    Leader of the City of Edinburgh Council Jane Meagher said:

    “We’re making significant progress at Granton Waterfront, with hundreds of affordable homes underway at both Western Villages and Silverlea. I welcome today’s announcement which comes at a critical time, as our city faces an ongoing housing emergency and a severe shortage of homes.

    “This funding forms part of a wider funding package that the Council and Scottish Government continue to develop, allowing the next phase of development in Granton to get underway later this year. This will see further development of much needed new homes, alongside improved infrastructure, and an innovative low-carbon district heating system.

    “The regeneration of Granton will not only help to address the housing shortage but also contribute to our broader goal to become net zero by 2030 and by incorporating cutting-edge technologies, residents will benefit from modern, comfortable, energy efficient homes.

    “We’re working hard to make Granton somewhere people will want to call home, and this is a great example of the success we can have when governments work together in partnership. I look forward to seeing this progress continue.”

    Background

    The 2024-25 Programme for Government expresses a commitment to working with local authorities to accelerate the development of strategic sites such as Granton, unlocking opportunities for investment and economic growth and the provision of new homes of all tenures.

    MIL OSI United Kingdom –

  • MIL-OSI: Athabasca Oil Announces 2024 Year-end Results including Record Cash Flow, Strong Return of Capital and Significant Reserves Growth

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 05, 2025 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its audited 2024 year-end results and reserves. Athabasca provides investors unique positioning to top tier liquids weighted assets (Thermal Oil and Duvernay) with a focus on maximizing cash flow per share growth by investing in competitive projects alongside a return of capital framework that will continue to direct 100% of Free Cash Flow to share buybacks in 2025.

    Year-end 2024 Consolidated Corporate Results

    • Production: Annual production of 36,815 boe/d (98% Liquids), representing 7% (14% per share) growth year over year. Strong production performance across all assets supported the Company achieving its upwardly revised annual guidance of 36,000 – 37,000 boe/d (July 2024).
    • Record Cash Flow: Adjusted Funds Flow of $561 million ($1.02 per share), representing 102% per share growth year over year. Cash Flow from Operating Activities of $558 million. Free Cash Flow of $322 million from Athabasca (Thermal Oil).
    • Capital Program: $268 million, within annual guidance of $270 million, highlighted by $164 million invested at Leismer for completing the 28,000 bbl/d expansion and advancing the 40,000 bbl/d expansion project and $73 million in Duvernay development.
    • Pristine Balance Sheet: Net Cash position of $123 million; Liquidity of $481 million ($345 million of cash). Athabasca has $2.3 billion of tax pools (~80% high-value and immediately deductible).

    Return of Capital Strategy

    • Achieved Return of Capital Commitment in 2024: Athabasca (Thermal Oil) allocated ~100% of its Free Cash Flow (“FCF”) to return of capital in 2024 completing $317 million in share repurchases.
    • Cumulative Return of Capital of ~$900 million: Since 2021, the Company has delivered a deliberate return of capital strategy, prioritizing ~$400 million of debt reduction followed by share buybacks of ~$500 million to date. The Company has reduced its fully diluted share count by ~18% since Q1 2023.
    • Continued 100% of Free Cash Flow (Thermal Oil) Return to Shareholders through buybacks in 2025: The Company expects to utilize ~100% of its Normal Course Issuer Bid (“NCIB”) for the second straight year. Following the expiry of its current NCIB on March 17, 2025 the Company will renew a third annual NCIB with the Toronto Stock Exchange.

    2024 Year-end Consolidated Reserves1

    • Differentiated Long-life Reserves: Athabasca holds 1.3 billion boe of Proved Plus Probable (“2P”) reserves and ~1 billion barrels of Contingent Resource (Best Estimate). This represents $6.4 billion2 NPV10 of 2P reserves ($12.44 per share), an increase of 35% per share from 2023, and includes $3.8 billion2 of Total Proved (“1P”) reserves ($7.28 per share), an increase of 34% per share from 2023.
    • Thermal Oil Underpins Deep Value: An $813 million increase in 2P NPV102 to $5.8 billion is supported by well design driving improved capital efficiencies, lower operating costs at both producing projects and constructive heavy oil pricing. These reserves represent a ~30 year 1P and ~90 year 2P reserve life.
    • Duvernay Value Capture: Duvernay Energy Corporation (“DEC”) 2P reserves increased by 170% to 73 mmboe, representing a NPV102 value of $614 million. Strong growth is attributed to establishing development on the newly operated lands and accelerated development on previous land positions. DEC has an estimated 444 gross drilling locations (204 net) across its ~200,000 acre (gross) land base.

    2025 Guidance Maintained

    • Athabasca (Thermal Oil): The Thermal Oil division underpins the Company’s strong Free Cash Flow outlook, with unchanged production guidance of 33,500 – 35,500 bbl/d and an unchanged ~$250 million capital budget. The program at Leismer includes the tie-in of six redrills and four new sustaining well pairs on Pad 10 early in 2025, along with continued pad and facility expansion work for the progressive expansion to 40,000 bbl/d. At Hangingstone two extended reach sustaining well pairs (~1,400 meter average laterals) that were drilled in 2024 will be placed on production in March.
    • Duvernay Energy Corporation: The 2025 capital program of ~$85 million includes the completion of a 100% working interest (“WI”) three-well pad that was drilled in 2024 and the drilling and completion of a 30% WI four-well pad. Activity will also include spudding two additional multi-well pads in H2 2025 (one operated 100% WI pad and one 30% WI pad) with completions to follow in 2026. DEC is constructing gathering system infrastructure on its operated assets that will support exit production of ~5,500 boe/d this year and momentum into 2026.
    • Significant Free Cash Flow: The Company forecasts consolidated Adjusted Funds Flow between $525 – $550 million3, including $475 – $500 million from its Thermal Oil assets. Every +US$1/bbl move in West Texas Intermediate (“WTI”) and Western Canadian Select (“WCS”) heavy oil impacts annual Adjusted Funds Flow by ~$10 million and ~$17 million, respectively. Athabasca forecasts generating ~$1.8 billion of Free Cash Flow3 from its Thermal Oil assets over five years (2025-29), representing ~70% of its current equity market capitalization.
    • Competitive and Resilient Break-evens. Thermal Oil is competitively positioned with sustaining capital to hold production flat funded within cash flow at ~US$50/bbl WTI1 and growth initiatives fully funded within cash flow below US$60/bbl WTI1. The Company’s operating break-even is estimated at ~US$40/bbl WTI3. Every $0.01 change in the Canada/US exchange rate is ~$10 million in annual Adjusted Funds Flow, and a weakened Canadian dollar would help cushion the impact that any potential US tariffs may have on commodity pricing.
    • Steadfast Focus on Cash Flow Per Share Growth: The Company forecasts ~20% compounded annual cash flow per share3 growth between 2025 – 2029 driven by investing in attractive capital projects and prioritizing share buybacks with Free Cash Flow.

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

    1Consolidated reserves reflect gross reserves and financial metrics before taking into account Athabasca’s 70% equity interest in Duvernay Energy.
    2Net present value of future net revenue before tax at a 10% discount rate (NPV 10 before tax) for 2024 is based on an average of McDaniel, Sproule and GLJ pricing as at January 1, 2025.
    3Pricing Assumptions: 2025 US$70 WTI, US$12.50 WCS heavy differential, C$2 AECO, and 0.725 C$/US$ FX; 2026-29 US$70 WTI, US$12.50 WCS heavy differential, C$3 AECO, and 0.725 C$/US$ FX.

    Financial and Operational Highlights

      Three months ended
    December 31,    		   Year ended
    December 31,    		  
    ($ Thousands, unless otherwise noted) 2024   2023   2024     2023  
    CORPORATE CONSOLIDATED(1)                  
    Petroleum and natural gas production (boe/d)(2)   37,236       33,127       36,815       34,490  
    Petroleum, natural gas and midstream sales $ 352,456     $ 315,929     $ 1,442,091     $ 1,268,525  
    Operating Income(2) $ 155,022     $ 96,960     $ 620,092     $ 417,023  
    Operating Income Net of Realized Hedging(2)(3) $ 153,119     $ 91,443     $ 613,630     $ 381,088  
    Operating Netback ($/boe)(2) $ 45.53     $ 30.44     $ 46.14     $ 32.57  
    Operating Netback Net of Realized Hedging ($/boe)(2)(3) $ 44.97     $ 28.71     $ 45.66     $ 29.76  
    Capital expenditures $ 92,944     $ 38,752     $ 268,042     $ 139,832  
    Cash flow from operating activities $ 158,677     $ 103,196     $ 557,541     $ 305,526  
    per share – basic $ 0.30     $ 0.18     $ 1.02     $ 0.52  
    Adjusted Funds Flow(2) $ 143,737     $ 81,830     $ 560,935     $ 295,236  
    per share – basic $ 0.27     $ 0.14     $ 1.02     $ 0.51  
    ATHABASCA (THERMAL OIL)                  
    Bitumen production (bbl/d)(2)   33,849       31,059       33,505       30,246  
    Petroleum, natural gas and midstream sales $ 346,716     $ 309,078     $ 1,419,670     $ 1,204,245  
    Operating Income(2) $ 143,246     $ 92,199     $ 569,083     $ 370,732  
    Operating Netback ($/bbl)(2) $ 46.30     $ 30.78     $ 46.54     $ 32.93  
    Capital expenditures $ 74,268     $ 29,371     $ 194,902     $ 118,975  
    Adjusted Funds Flow(2) $ 133,398         $ 516,612        
    Free Cash Flow(2) $ 59,130         $ 321,710        
    DUVERNAY ENERGY(1)                  
    Petroleum and natural gas production (boe/d)(2)   3,387       2,068       3,310       4,244  
    Percentage Liquids (%)(2) 75 %   71 %   76 %   58 %
    Petroleum, natural gas and midstream sales $ 20,179     $ 12,659     $ 83,194     $ 91,062  
    Operating Income(2) $ 11,776     $ 4,761     $ 51,009     $ 46,291  
    Operating Netback ($/boe)(2) $ 37.79     $ 25.02     $ 42.10     $ 29.89  
    Capital expenditures $ 18,676     $ 9,381     $ 73,140     $ 20,857  
    Adjusted Funds Flow(2) $ 10,339         $ 44,323        
    Free Cash Flow(2) $ (8,337 )       $ (28,817 )      
    NET INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)                  
    Net income (loss) and comprehensive income (loss)(4) $ 264,336     $ 27,506     $ 467,743     $ (51,220 )
    per share – basic(4) $ 0.50     $ 0.05     $ 0.85     $ (0.09 )
    per share – diluted(4) $ 0.50     $ 0.03     $ 0.85     $ (0.09 )
    COMMON SHARES OUTSTANDING                  
    Weighted average shares outstanding – basic   526,233,362       574,412,564       547,795,407       583,757,575  
    Weighted average shares outstanding – diluted   530,796,068       588,498,448       553,382,675       583,757,575  
          December 31,   December 31,  
    As at ($ Thousands)     2024   2023  
    LIQUIDITY AND BALANCE SHEET            
    Cash and cash equivalents     $ 344,836     $ 343,309  
    Available credit facilities(5)     $ 136,324     $ 85,488  
    Face value of term debt(6)     $ 200,000     $ 207,648  

    (1)    Corporate Consolidated and Duvernay Energy reflect gross production and financial metrics before taking into consideration Athabasca’s 70% equity interest in Duvernay Energy.
    (2)    Refer to the “Advisories and Other Guidance” section within this News Release for additional information on Non-GAAP Financial Measures and production disclosure.
    (3)   Includes realized commodity risk management loss of $1.9 million and $6.5 million for the three months and year ended December 31, 2024 (three months and year ended December 31, 2023 – loss of $5.5 million and $35.9 million).
    (4)    Net income (loss) and comprehensive income (loss) per share amounts are based on net income (loss) and comprehensive income (loss) attributable to shareholders of the Parent Company. In the calculation of diluted earnings per share for the three months ended December 31, 2023 earnings were reduced by $11.3 million to account for the impact to net income had the outstanding warrants been converted to equity.
    (5)    Includes available credit under Athabasca’s and Duvernay Energy’s Credit Facilities and Athabasca’s Unsecured Letter of Credit Facility.
    (6)    The face value of the term debt at December 31, 2023 was US$157.0 million translated into Canadian dollars at the December 31, 2023 exchange rate of US$1.00 = C$1.3226.

    Athabasca (Thermal Oil) Year-end 2024 Highlights and Operations Update

    • Production: Bitumen production averaged 33,505 bbl/d in 2024 representing 11% growth year over year (18% per share) supported by the Leismer facility expansion mid-year and Hangingstone’s resilient production base.
    • Record Cash Flow: Adjusted Funds Flow of $517 million with an Operating Netback of $46.54/bbl. Operating Income of $569 million.
    • Capital Program: $195 million of capital expenditures in 2024 focused on expansion projects at Leismer and sustaining operations at Hangingstone.
    • Free Cash Flow: $322 million of Free Cash Flow supporting 100% return of capital commitment.

    Leismer

    Bitumen production for 2024 averaged 26,103 bbl/d, up 16% year over year (18% per share).

    In Q4 2024, the Company completed drilling six extended redrills on Pad L1 and four well pairs at Pad L10. The redrills were placed onstream in February and support production of ~28,000 bbl/d. Steaming of the Pad L10 well pairs is expected to start in April with first production mid-year. Another six well pairs will be drilled in H2 2025.

    Activity at Leismer continues to be focused on advancing progressive growth to 40,000 bbl/d by the end of 2027. The project cost is estimated at $300 million generating a capital efficiency of approximately $25,000/bbl/d. The $300 million includes an estimated $190 million for facility capital (majority spread over 2025 and 2026) and an estimated $110 million for growth wells. To date the Company has procured ~80% of the project and remains on budget and on schedule with the original sanction plans announced in July 2024. This winter the Company completed regional infrastructure to Pad L10 and L11 including lease site construction, delineation drilling and pipeline looping. Major facility equipment has been purchased and the Company is preparing to install two previously acquired steam generators in 2027.

    Leismer is forecasted to remain pre-payout from a crown royalty perspective until late 20273.

    Hangingstone

    Bitumen production for 2024 averaged 7,402 bbl/d and experienced no decline during the year. Non-condensable gas co-injection has aided in pressure support and reduced energy usage. Hangingstone’s steam oil ratio averaged 3.4 for 2024.

    At Hangingstone two extended reach sustaining well pairs (~1,400 meter average laterals) were drilled in 2024. These wells commenced steaming in December and will be placed on production in March. These well pairs are expected to enhance the current production level and support base production long term.

    Hangingstone continues to deliver meaningful cash flow contributions with minimal capital to the Company and also has a pre-payout crown royalty structure to beyond 20303.

    Corner

    The Company’s Corner asset is a large de-risked top-tier oil sands asset adjacent to Leismer with 351 million barrels of 2P reserves and 520 million barrels of Contingent Resource (Best Estimate Unrisked). There are over 300 delineation wells and ~80% seismic coverage with reservoir qualities similar or better than Leismer. The asset has a 40,000 bbl/d regulatory approval for development with the existing pipeline corridor passing through the Corner lease. The Company is updating its development plans and is finalizing facility cost estimates, including modular optionality. Athabasca intends to explore external funding options and does not plan to fund an expansion utilizing existing cash flow or balance sheet resources.

    Duvernay Energy Corporation Year-end 2024 Highlights and Operations Update

    • Production: Production averaged 3,310 boe/d (76% Liquids) in 2024, supported by two pads (5 gross, 2.9 net wells) placed on production.
    • Cash Flow: Adjusted Funds Flow of $44 million in 2024 with an Operating Netback of $42.10/boe. Operating Income was $51 million in 2024. DEC has no long-term debt and ended the year with a cash position of $26 million.
    • Capital Program: $73 million of capital, fully funded within cash flow and cash on hand in DEC.

    Production from wells drilled in 2024 continue to validate DEC’s type curve expectations. The five new wells placed on production have average IP30’s of ~1,200 boe/d per well (86% liquids) and IP90s of ~940 boe/d (86% Liquids) per well.

    DEC drilled a three-well 100% working interest pad at 4-18-64-16W5 in Q4 2024. The wells were cased with average laterals of ~4,100 meters per well. This operated pad of wells is expected to be completed post-breakup in 2025. Winter activity has been focused on strategic gathering system investments connecting its newly operated assets with its existing operated infrastructure on the joint venture acreage supporting near-term development plans. DEC has secured a regional term water license and is commencing water sourcing in advance of the completion activities this summer.

    Marketing Access Strategy and Resilience to United States (“US”) Trade Tariffs

    • Long Term Market Access: Athabasca has diversified its long term end market access which includes ~7,200 bbl/d of capacity on the Keystone pipeline by 2028, providing direct exposure to the US Gulf Coast. The Company has recently contracted, through an intermediary, 10,000 bbl/d of capacity on the Enbridge Express system, providing capacity to PADD II with no associated balance sheet commitments. The start-up of the Trans Mountain pipeline expansion has provided excess egress capacity out of Canada, driving tighter and less volatile WCS heavy differentials. Industry market access is expected to be further supported by expansions on the Enbridge and Trans Mountain Pipeline systems along with the possible revival of new pipeline projects.
    • Athabasca is Resilient: The Company is well positioned to withstand macro volatility including proposed US Trade Tariffs with operational flexibility, financial durability and a robust cash flow outlook. Athabasca’s capital program is designed to provide flexible growth at Leismer and DEC has no near-term land expiries with flexible development plans. The Company’s balance sheet is in a $123 million Net Cash position with tenure on Canadian denominated term debt until 2029. Every $0.01 change in the Canada/US exchange rate is ~$10 million in annual Adjusted Funds Flow, and a weakened Canadian dollar would help cushion the impact that any potential US tariffs may have on commodity pricing.

    Differentiated Long-life Reserves1

    • Strong Reserve Growth: 22% increase year over year in 2P reserve value to $6.4 billion NPV102 ($12.44 per share, 35% increase) and 21% increase in 1P reserves to $3.8 billion2 ($7.28 per share, 34% increase). Athabasca maintains a deep inventory with a ~30 year 1P and ~90 year 2P reserve life.
    • Massive Resource Base: 1.3 billion boe of 2P reserves, anchored by 1.2 billion barrels of 2P Thermal Reserves, plus an additional ~1 billion barrels of Contingent Resources (best estimate).
    • Duvernay Energy: Significant reserve additions from ~46,000 acres of 100% working interest land, driving a 128% year over year increase in 2P reserve value to $614 million NPV102.

    Athabasca’s independent reserves evaluator, McDaniel & Associates Consultants Ltd. (“McDaniel”), prepared the year-end reserves evaluation effective December 31, 2024. Reserves are reported on a consolidated basis and reflecting gross reserves and financial metrics before taking into account Athabasca’s 70% equity interest in Duvernay Energy.

      Duvernay Energy1 Thermal Oil Corporate
      2023   2024       2023       2024       2023       2024  
    Reserves (mmboe)            
    Proved Developed Producing   4       6       77       74       82       80  
    Total Proved   11       41       404       404       415       445  
    Proved Plus Probable   27       73       1,216       1,209       1,243       1,282  
                     
    NPV10 BT ($million)2                
    Proved Developed Producing $58     $81     $1,713     $1,749     $1,771     $1,830  
    Total Proved $142     $345     $2,969     $3,421     $3,111     $3,766  
    Proved Plus Probable $269     $614     $5,011     $5,824     $5,280     $6,438  
                   

    Numbers in the table may not add precisely due to rounding.

    For additional information regarding Athabasca’s reserves and resources estimates, please see “Independent Reserve and Resource Evaluations” in the Company’s 2024 Annual Information Form which is available on the Company’s website or on SEDAR at www.sedarplus.ca.  

    1Consolidated reserves reflect gross reserves and financial metrics before taking into account Athabasca’s 70% equity interest in Duvernay Energy.
    2Net present value of future net revenue before tax at a 10% discount rate (NPV 10 before tax) for 2024 is based on an average of McDaniel, Sproule and GLJ pricing as at January 1, 2025.

    About Athabasca Oil Corporation

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

    For more information, please contact:

    Reader Advisory:

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

    In addition, information and statements in this News Release relating to “Reserves” and “Resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and that the reserves and resources described can be profitably produced in the future. With respect to forward-looking information contained in this News Release, assumptions have been made regarding, among other things: commodity prices; the regulatory framework governing royalties, taxes and environmental matters in the jurisdictions in which the Company conducts and will conduct business and the effects that such regulatory framework will have on the Company, including on the Company’s financial condition and results of operations; the Company’s financial and operational flexibility; the Company’s financial sustainability; Athabasca’s cash flow break-even commodity price; the Company’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the applicability of technologies for the recovery and production of the Company’s reserves and resources; future capital expenditures to be made by the Company; future sources of funding for the Company’s capital programs; the Company’s future debt levels; future production levels; the Company’s ability to obtain financing and/or enter into joint venture arrangements, on acceptable terms; operating costs; compliance of counterparties with the terms of contractual arrangements; impact of increasing competition globally; collection risk of outstanding accounts receivable from third parties; geological and engineering estimates in respect of the Company’s reserves and resources; recoverability of reserves and resources; the geography of the areas in which the Company is conducting exploration and development activities and the quality of its assets. Certain other assumptions related to the Company’s Reserves and Resources are contained in the report of McDaniel & Associates Consultants Ltd. (“McDaniel”) evaluating Athabasca’s Proved Reserves, Probable Reserves and Contingent Resources as at December 31, 2024 (which is respectively referred to herein as the “McDaniel Report”).

    Actual results could differ materially from those anticipated in this forward-looking information as a result of the risk factors set forth in the Company’s Annual Information Form (“AIF”) dated March 5, 2025 available on SEDAR at www.sedarplus.ca, including, but not limited to: weakness in the oil and gas industry; exploration, development and production risks; prices, markets and marketing; market conditions; trade relations and tariffs; climate change and carbon pricing risk; statutes and regulations regarding the environment including deceptive marketing provisions; regulatory environment and changes in applicable law; gathering and processing facilities, pipeline systems and rail; reputation and public perception of the oil and gas sector; environment, social and governance goals; political uncertainty; state of capital markets; ability to finance capital requirements; access to capital and insurance; abandonment and reclamation costs; changing demand for oil and natural gas products; anticipated benefits of acquisitions and dispositions; royalty regimes; foreign exchange rates and interest rates; reserves; hedging; operational dependence; operating costs; project risks; supply chain disruption; financial assurances; diluent supply; third party credit risk; indigenous claims; reliance on key personnel and operators; income tax; cybersecurity; advanced technologies; hydraulic fracturing; liability management; seasonality and weather conditions; unexpected events; internal controls; limitations and insurance; litigation; natural gas overlying bitumen resources; competition; chain of title and expiration of licenses and leases; breaches of confidentiality; new industry related activities or new geographical areas; water use restrictions and/or limited access to water; relationship with Duvernay Energy Corporation; management estimates and assumptions; third-party claims; conflicts of interest; inflation and cost management; credit ratings; growth management; impact of pandemics; ability of investors resident in the United States to enforce civil remedies in Canada; and risks related to our debt and securities. All subsequent forward-looking information, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

    Also included in this News Release are estimates of Athabasca’s 2025 outlook which are based on the various assumptions as to production levels, commodity prices, currency exchange rates and other assumptions disclosed in this News Release. To the extent any such estimate constitutes a financial outlook, it was approved by management and the Board of Directors of Athabasca and is included to provide readers with an understanding of the Company’s outlook. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the financial outlook or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The outlook and forward-looking information contained in this New Release was made as of the date of this News release and the Company disclaims any intention or obligations to update or revise such outlook and/or forward-looking information, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law.

    Oil and Gas Information

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

    Initial Production Rates 

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

    Reserves Information

    The McDaniel Report was prepared using the assumptions and methodology guidelines outlined in the COGE Handbook and in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, effective December 31, 2024. There are numerous uncertainties inherent in estimating quantities of bitumen, light crude oil and medium crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth above are estimates only. In general, estimates of economically recoverable reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially. For those reasons, estimates of the economically recoverable reserves attributable to any particular group of properties, classification of such reserves based on risk of recovery and estimates of future net revenues associated with reserves prepared by different engineers, or by the same engineers at different times, may vary. The Company’s actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. Reserves figures described herein have been rounded to the nearest MMbbl or MMboe. For additional information regarding the consolidated reserves and information concerning the resources of the Company as evaluated by McDaniel in the McDaniel Report, please refer to the Company’s AIF.

    Reserve Values (i.e. Net Asset Value) is calculated using the estimated net present value of all future net revenue from our reserves, before income taxes discounted at 10%, as estimated by McDaniel effective December 31, 2024 and based on average pricing of McDaniel, Sproule and GLJ as of January 1, 2025.

    The 444 gross Duvernay drilling locations referenced include: 87 proved undeveloped locations and 85 probable undeveloped locations for a total of 172 booked locations with the balance being unbooked locations. Proved undeveloped locations and probable undeveloped locations are booked and derived from the Company’s most recent independent reserves evaluation as prepared by McDaniel as of December 31, 2024 and account for drilling locations that have associated proved and/or probable reserves, as applicable. Unbooked locations are internal management estimates. Unbooked locations do not have attributed reserves or resources (including contingent or prospective). Unbooked locations have been identified by management as an estimation of Athabasca’s multi-year drilling activities expected to occur over the next two decades based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Company will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The drilling locations on which the Company will actually drill wells, including the number and timing thereof is ultimately dependent upon the availability of funding, commodity prices, provincial fiscal and royalty policies, costs, actual drilling results, additional reservoir information that is obtained and other factors.

    Non-GAAP and Other Financial Measures, and Production Disclosure

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

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

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

      Three months ended
    December 31, 2024    		   Three months ended
    December 31, 2023    		  
    ($ Thousands) Athabasca
    (Thermal Oil)    		   Duvernay
    Energy    (1)    		   Corporate Consolidated(1)   Corporate
    Consolidated    		  
    Cash flow from operating activities $ 144,810     $ 13,867     $ 158,677     $ 103,196  
    Changes in non-cash working capital   (11,504 )     (3,675 )     (15,179 )     (21,973 )
    Settlement of provisions   92       147       239       607  
    ADJUSTED FUNDS FLOW   133,398       10,339       143,737       81,830  
    Capital expenditures   (74,268 )     (18,676 )     (92,944 )     (38,752 )
    FREE CASH FLOW $ 59,130     $ (8,337 )   $ 50,793     $ 43,078  

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

      Year ended
    December 31, 2024    		   Year ended
    December 31, 2023    		  
    ($ Thousands) Athabasca
    (Thermal Oil)    		   Duvernay
    Energy    (1)    		   Corporate
    Consolidated    (1)    		   Corporate
    Consolidated    		  
    Cash flow from operating activities $ 511,828     $ 45,713     $ 557,541     $ 305,526  
    Changes in non-cash working capital   3,056       (1,541 )     1,515       525  
    Settlement of provisions   1,728       151       1,879       1,762  
    Long-term deposit   —       —       —       (12,577 )
    ADJUSTED FUNDS FLOW   516,612       44,323       560,935       295,236  
    Capital expenditures   (194,902 )     (73,140 )     (268,042 )     (139,832 )
    FREE CASH FLOW $ 321,710     $ (28,817 )   $ 292,893     $ 155,404  

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

    Duvernay Energy Operating Income and Operating Netback

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

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

      Three months ended
    December 31,    		     Year ended
    December 31,    		  
    ($ Thousands, unless otherwise noted) 2024     2023     2024     2023  
    Petroleum and natural gas sales $ 20,179     $ 12,659     $ 83,194     $ 91,062  
    Royalties   (2,753 )     (2,180 )     (11,035 )     (12,583 )
    Operating expenses   (4,729 )     (5,009 )     (17,116 )     (24,997 )
    Transportation and marketing   (921 )     (709 )     (4,034 )     (7,191 )
    DUVERNAY ENERGY OPERATING INCOME $ 11,776     $ 4,761     $ 51,009     $ 46,291  

    Athabasca (Thermal Oil) Operating Income and Operating Netback

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

      Three months ended
    December 31,    		     Year ended
    December 31,    		  
    ($ Thousands, unless otherwise noted) 2024     2023     2024     2023  
    Heavy oil (blended bitumen) and midstream sales $ 346,716     $ 309,078     $ 1,419,670     $ 1,204,245  
    Cost of diluent   (137,817 )     (137,438 )     (549,808 )     (518,219 )
    Total bitumen and midstream sales   208,899       171,640       869,862       686,026  
    Royalties   (12,413 )     (15,695 )     (75,064 )     (60,865 )
    Operating expenses – non-energy   (20,699 )     (23,767 )     (93,144 )     (87,116 )
    Operating expenses – energy   (11,526 )     (17,651 )     (49,713 )     (81,769 )
    Transportation and marketing(1)   (21,015 )     (22,328 )     (82,858 )     (85,544 )
    ATHABASCA (THERMAL OIL) OPERATING INCOME $ 143,246     $ 92,199     $ 569,083     $ 370,732  

    (1)   Transportation and marketing excludes non-cash costs of $0.6 million and $2.2 million for the three months and year ended December 31, 2024 (three months and year ended December 31, 2023 – $0.6 million and $2.2 million).

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

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

      Three months ended
    December 31,    		     Year ended
    December 31,    		  
    ($ Thousands, unless otherwise noted) 2024     2023     2024     2023  
    Petroleum, natural gas and midstream sales(1) $ 366,895     $ 321,737     $ 1,502,864     $ 1,295,307  
    Royalties   (15,166 )     (17,875 )     (86,099 )     (73,448 )
    Cost of diluent(1)   (137,817 )     (137,438 )     (549,808 )     (518,219 )
    Operating expenses   (36,954 )     (46,427 )     (159,973 )     (193,882 )
    Transportation and marketing(2)   (21,936 )     (23,037 )     (86,892 )     (92,735 )
    Operating Income   155,022       96,960       620,092       417,023  
    Realized loss on commodity risk mgmt. contracts   (1,903 )     (5,517 )     (6,462 )     (35,935 )
    OPERATING INCOME NET OF REALIZED HEDGING $ 153,119     $ 91,443     $ 613,630     $ 381,088  

    (1)   Non-GAAP measure includes intercompany NGLs (i.e. condensate) sold by the Duvernay Energy segment to the Athabasca (Thermal Oil) segment for use as diluent that is eliminated on consolidation.
    (2)   Transportation and marketing excludes non-cash costs of $0.6 million and $2.2 million for the three months and year ended December 31, 2024 (three months and year ended December 31, 2023 – $0.6 million and $2.2 million).

    Cash Transportation and Marketing Expense

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

    Net Cash

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

    Liquidity

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

    Production volumes details

        Three months ended
    December 31,    		     Year ended
    December 31,    		  
    Production   2024     2023     2024     2023  
    Duvernay Energy:                        
    Oil(1) bbl/d   2,103       1,208       2,202       1,396  
    Condensate NGLs bbl/d   —       —       —       528  
    Oil and condensate NGLs bbl/d   2,103       1,208       2,202       1,924  
    Other NGLs bbl/d   422       258       329       525  
    Natural gas(2) mcf/d   5,172       3,612       4,677       10,769  
    Total Duvernay Energy boe/d   3,387       2,068       3,310       4,244  
    Total Thermal Oil bitumen bbl/d   33,849       31,059       33,505       30,246  
    Total Company production boe/d   37,236       33,127       36,815       34,490  

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

    This News Release also makes reference to Athabasca’s forecasted average daily Thermal Oil production of 33,500 ‐ 35,500 bbl/d for 2025. Athabasca expects that 100% of that production will be comprised of bitumen. Duvernay Energy’s forecasted total average daily production of ~4,000 boe/d for 2025 is expected to be comprised of approximately 68% tight oil, 23% shale gas and 9% NGLs.

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

    Reserve Life Index is calculated as year-end reserves divided by Q4 2024 production.

    Break Even is an operating metric that calculates the US$WTI oil price required to fund operating costs (Operating Break-even), sustaining capital (Sustaining Break-even), or growth capital (Total Capital) within Adjusted Funds Flow.

    The MIL Network –

  • MIL-OSI: Australian Traders Are Winning Big with UCFXMarkets High-Precision Trading AI

    Source: GlobeNewswire (MIL-OSI)

    London, UK, March 05, 2025 (GLOBE NEWSWIRE) — Next-Generation AI Trading Technology Helps Australian Investors Stay Ahead of the Market

    UCFXMarkets is transforming the way Australian traders approach the financial markets with its high-precision AI trading technology. Designed to optimize market predictions, enhance trade execution, and minimize risks, this next-generation AI-driven trading platform is helping investors achieve consistent success in today’s fast-moving financial landscape.

    With market volatility at an all-time high, traders can no longer afford to rely on outdated strategies. UCFXMarkets delivers real-time market intelligence, predictive analytics, and automated execution tools that give Australian investors the competitive advantage they need.

    Cutting-Edge AI Trading for Australian Investors

    The UCFXMarkets AI system continuously scans global financial markets, identifying high-probability opportunities across forex, equities, and commodities. By leveraging advanced machine learning models, the platform adapts to changing market conditions, ensuring traders maximize profitability while mitigating risk.

    What Makes UCFXMarkets AI Trading So Powerful?

    • Real-Time Market Scanning – AI-powered analysis detects profitable trends before price movements happen.
    • Precision Trade Execution – The AI system executes trades with exact timing, reducing slippage and improving entry points.
    • Advanced Risk Management – Built-in tools automatically adjust trading strategies to minimize potential losses.
    • Multi-Asset Trading – Compatible with forex, stocks, commodities, and indices, allowing for diversified investment opportunities.
    • AI-Powered Learning – Constantly adapts to market trends, refining its predictive models for increased accuracy over time.

    “Trading is no longer just about experience—it’s about having the right technology,” said a UCFXMarkets spokesperson. “Our AI system gives Australian traders an advanced edge, ensuring they capitalize on market trends before the competition.”

    Australian Traders Are Seeing Real Results

    The AI-powered trading system from UCFXMarkets is already delivering exceptional results for Australian investors. Traders report higher accuracy in trade predictions, increased profitability, and reduced emotional decision-making.

    Testimonials from UCFXMarkets Traders in Australia:

    Mark S. – Sydney, NSW
    “I’ve been trading for years, but nothing comes close to the accuracy of UCFXMarkets. The AI spots patterns instantly, and my win rate has never been higher.”

    Emma R. – Melbourne, VIC
    “This system is a game-changer! I used to stress over charts for hours—now the AI does it for me, and my results have improved dramatically.”

    Liam D. – Brisbane, QLD
    “What I love about UCFXMarkets is the built-in risk management. The AI adjusts my strategy in real-time, helping me avoid bad trades and protect my capital.”

    Sophie M. – Perth, WA
    “I’ve tried multiple trading tools, but nothing compares to this. The AI adapts to market shifts in real time, keeping me ahead of every move.”

    The Future of Trading in Australia Is Here

    With financial markets becoming increasingly unpredictable, UCFXMarkets is providing Australian traders with the tools they need to navigate volatility and maximize their returns. Whether you’re a seasoned investor or just starting out, AI-powered trading is the future—and it’s available now.

    Are You Ready to Trade Smarter?

    UCFXMarkets is now offering its high-precision AI trading system to Australian traders who want to gain a strategic edge in the financial markets. With real-time data analysis, automated trade execution, and dynamic risk management, traders can now win bigger, trade smarter, and stay ahead of the competition.

    Disclaimer:

    This press release is for informational purposes only and does not constitute financial advice, investment recommendations, or an offer to buy or sell any financial instruments. Trading involves risk, and past performance is not indicative of future results. Investors should conduct their own research and consult with a licensed financial advisor before making any investment decisions.

    The MIL Network –

  • MIL-OSI China: State council issues guidelines on advancing key areas in financial sector

    Source: China State Council Information Office

    The General Office of the State Council has issued guidelines to accelerate efforts to build China into a country with a strong financial sector and promote development in five major areas, namely, technology finance, green finance, inclusive finance, pension finance and digital finance.

    Emphasizing the fundamental role of financial services in supporting the real economy, the guidelines called for strengthening coordination between financial policies and measures related to technology, industry, taxation and fiscal matters.

    High-quality financial services will be provided to support major national strategies, key sectors and weaker links in the economy.

    Efforts will be enhanced to cultivate new quality productive forces tailored to local conditions, according to the guidelines.

    The guidelines underscored strengthening financial support for major national scientific and technological initiatives and tech-focused small and medium-sized enterprises while coordinating financial support for green development and the low-carbon transition.

    Inclusive finance will be strengthened by building a multi-tiered, broad-based and sustainable system while optimizing financial products and services for key sectors, including micro, small and medium-sized enterprises, private businesses, rural revitalization and social welfare.

    Efforts will be made to enhance financial support for the silver economy and facilitate the development of a multi-tiered, multi-pillar old-age insurance system.

    Digital transformation of financial institutions will be promoted and the digital financial governance system will be improved, according to the guidelines. 

    MIL OSI China News –

  • MIL-OSI China: Adidas reports double-digit sales growth in China

    Source: China State Council Information Office

    German sportswear giant Adidas recorded double-digit growth in net sales in China last year, highlighting the market’s role as a key driver of the company’s overall performance.

    According to the annual financial report released on Wednesday, Adidas’ global net sales reached 23.68 billion euros (25.49 billion U.S. dollars) in 2024, reflecting a year-on-year increase of 10.5 percent.

    The Greater China region posted a 10.3 percent net sales rise to 3.46 billion euros, with all other major markets, except North America, also reporting growth.

    Adidas CEO Bjorn Gulden emphasized China’s strategic importance to the company’s global expansion. “China remains a crucial market with immense potential,” he said during the earnings release, citing a growing middle-income population, increasing sports participation, and rising consumer demand for fashion as key factors driving Adidas’ continued investment.

    “The double-digit growth in China was driven by our Chinese team,” he noted, highlighting Adidas’ long-standing commitment to the market through its “in China, for China” localization strategy.

    Speaking to Xinhua, Gulden described China’s retail landscape as unique, dominated by mono-brand stores rather than the multi-brand retailers more common in markets such as Europe. This structure, he said, enables Adidas to benefit from shorter supply chain cycles and greater operational efficiency.

    According to the report, Adidas’ net sales in China grew by 16.1 percent year-on-year in the fourth quarter of 2024, marking seven consecutive quarters of steady expansion. (1 euro = 1.08 U.S. dollar) 

    MIL OSI China News –

  • MIL-OSI China: Trump grants one-month exemption to big three automakers from Mexico, Canada tariffs: White House

    Source: China State Council Information Office

    The White House said on Wednesday that U.S. President Donald Trump is granting a one-month exemption to three major automakers from the newly imposed 25-percent tariffs on Mexico and Canada.

    “We spoke with the big three auto dealers (makers), we are going to give a one-month exemption on any autos coming through USMCA. Reciprocal tariffs will still go into effect on April 2,” White House Press Secretary Karoline Leavitt told reporters at a press briefing.

    Levitt said Trump has spoken with three companies — Ford, General Motors, and Stellantis — and they made this request. The president agreed to grant them a one-month tariff exemption.

    Bloomberg News reported earlier Wednesday that Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, “as a temporary reprieve following pleas from industry leaders.”

    The United States-Mexico-Canada Agreement (USMCA) is a trade agreement negotiated, signed, and ultimately enacted during Trump’s first term, aimed at replacing the former North American Free Trade Agreement (NAFTA).

    Under the USMCA, auto parts procurement must meet specific rules to qualify for duty-free treatment. These rules are designed to encourage regional production and sourcing within North America. For passenger vehicles and light trucks, at least 75 percent of the vehicle’s value must originate in North America, while the minimum requirement for heavy trucks is 70 percent.

    On Feb. 1, Trump signed an executive order imposing a 25-percent tariff on products imported from Mexico and Canada, with a 10 percent tariff increase on Canadian energy products. On Feb. 3, Trump announced a 30-day delay in implementing the tariffs on both countries and continued negotiations. According to this decision, the relevant tariff measures took effect on March 4.

    Trump on Tuesday night defended his tariff strategy when delivering an address to a joint session of Congress, but acknowledged that such policies will cause “a little disturbance.”

    Nevertheless, economists and observers have expressed deep concerns about the potential impact of tariffs on the U.S. economy.

    The Tax Foundation estimated that, without considering retaliatory measures, Trump’s 25 percent tariffs on Canada and Mexico, which went into effect Tuesday, will reduce long-term GDP by 0.2 percent, reduce hours worked by 223,000 full-time equivalent jobs, and reduce after-tax incomes by an average of 0.6 percent. 

    MIL OSI China News –

  • MIL-OSI Economics: bKash and Huawei Win GSMA GLOMO “Best FinTech Innovation” Award

    Source: Huawei

    Headline: bKash and Huawei Win GSMA GLOMO “Best FinTech Innovation” Award

    [Barcelona, Spain, March 5, 2025] During MWC Barcelona 2025, bKash and Huawei were awarded the GSMA GLOMO “Best FinTech Innovation” for digital loan solution for all. This award recognises groundbreaking advancements in financial technology that are transforming the way people and businesses manage, access, and utilise financial services. bKash and Huawei pioneered the ‘Pay Later’ service in Bangladesh, providing short-term microloans to unbanked users, helping them address short-term financial gaps in daily expenses.
    bKash and Huawei jointly win the GSMA GLOMO “Best FinTech Innovation” award

    Since its launch in 2018, bKash has expanded financial access to 61% of Bangladeshi adults, However, 37% of citizens still rely on high-interest informal lenders for urgent needs, while only 9% of adults have access to formal banking services. To address this, Huawei partnered with bKash to introduce the “Pay Later” financial service, offering instant, paperless microloans and delivering a seamless digital payment experience to the majority of Bangladesh’s unbanked population. This service particularly benefits groups, including rural women and small businesses, helping them secure working capital, reduce poverty, and drive local e-commerce growth.
    Mohammad Azmal Huda, Chief Product and Technology Officer (CPTO) of bKash, stated, “Leveraging the easy-to-integrate and scalable capabilities of Huawei mobile money platform, we have rapidly expanded more than 20 key payment scenarios and embedded ‘Pay Later’ micro financial services. This initiative has empowered millions of people to attain financial dignity and has accelerated our mission to drive financial inclusion across Bangladesh.”
    “We are honored to jointly receive the GLOMO Best FinTech Innovation Award with bKash. Huawei will continue to invest in product innovation, integrate the strengths of our partners, and create greater commercial and social value for our customers.” said by Maurice Ma, President of Huawei Software Business Unit.
    Over the last decade, Huawei’s Mobile Money solution has benefited 480 million users across over 40 countries globally. The solution uses a unique cloud-native distributed architecture, achieving 99.999% platform reliability and unlimited scalability, ensuring zero business interruption. Powered by a robust data and AI engine, Huawei Mobile Money enables agile financial risk assessment and drives healthy revenue growth. Additionally, the platform’s openness enables agile business innovation, accelerating the development of digital lifestyle gateways, and providing more convenient financial services to global users.
    MWC Barcelona 2025 will be held from March 3 to March 6 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1. In 2025, commercial 5G-Advanced deployment will accelerate, and AI will help carriers reshape business, infrastructure, and O&M. Huawei is actively working with carriers and partners around the world to accelerate the transition towards an intelligent world. For more information, please visit: https://carrier.huawei.com/en/events/mwc2025

    MIL OSI Economics –

  • MIL-OSI USA: Peters Reintroduces Bipartisan Legislation to Help Prevent Foreign Influence in U.S. Policy

    US Senate News:

    Source: United States Senator for Michigan Gary Peters

    WASHINGTON, DC – U.S. Senator Gary Peters (MI), Ranking Member of the Homeland Security and Governmental Affairs Committee, reintroduced two bipartisan bills to improve our nation’s ability to prevent foreign governments, including adversaries like the Chinese and Russian governments, from attempting to influence U.S. policy without making appropriate disclosures. The legislation would help close loopholes that foreign governments could exploit to conceal their roles in lobbying efforts.

    “The American people deserve complete transparency about who is trying to influence our political process,” said Senator Peters. “These bipartisan bills will help ensure foreign actors can’t exploit loopholes to hide their activities while attempting to shape policy in the United States. It’s a commonsense step to protect our national security and ensure our government is working in the best interests of the American people.” 

    The Lobbying Disclosure Improvement Act would improve transparency of the activities of lobbyists who represent foreign persons or organizations by requiring them to indicate whether they are taking advantage of an exemption under the Foreign Agent Registration Act (FARA) when they register under the Lobbying Disclosure Act. This would help the Department of Justice narrow the pool of registrants they are examining for potential violations, while not imposing any meaningful additional burden on registrants.

    The Disclosing Foreign Influence in Lobbying Act closes a loophole in the Lobbying Disclosure Act that foreign adversaries – including the Chinese government – can exploit to conceal their roles in lobbying efforts. Think tanks and law enforcement agencies have identified instances in which foreign adversaries exploited this loophole by using closely connected organizations and businesses to push their interests when lobbying the U.S. government. The bill makes clear that lobbying organizations must disclose when foreign governments and political parties participate in their lobbying efforts, regardless of any financial contribution to the lobbying effort.

    MIL OSI USA News –

  • MIL-OSI USA: Murray, Colleagues Reintroduce Legislation to Protect Workers’ Right to Organize, Blast Trump and Musk for Attacks on Workers

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Murray helped author and introduce the PRO Act in the 116th Congress
    Murray: “Reintroducing the PRO Act is more important now than ever. This is about making sure we are not just pushing back—but also pushing forward, charting a positive vision for workers, and daring Republicans to make their actions match their words.”
    ***VIDEO HERE***
    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), a senior member and former Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, joined a bipartisan group of lawmakers to reintroduce the Protecting the Right to Organize (PRO) Act, comprehensive legislation to protect workers’ right to come together and bargain for fairer wages, better benefits, and safer workplaces. Joining Senator Murray at the press conference for the bill reintroduction today were Senate Democratic Leader Chuck Schumer (D-NY), House Democratic Leader Hakeem Jeffries (D, NY-08), House Democratic Whip Katherine Clark (D-MA), HELP Committee Ranking Member Bernie Sanders (I-VT), House Education Committee Ranking Member Bobby Scott (D, VA-03), Rep. Brian Fitzpatrick (R, PA-01), and union worker Kieran Cuadras.
    Large corporations and the wealthy continue to capture the rewards of a growing economy while working families and middle-class Americans are left behind. From 1979 to 2023, annual wages for the bottom 90 percent of households increased just 44 percent, while average incomes for the wealthiest one percent increased more than 180 percent. Unions are critical to increasing wages and creating a strong economy that rewards hardworking people. Through the power of bargaining, the typical union worker earns 16 percent more than the typical non-union worker. According to a 2024 Gallup poll, 70 percent of Americans approve of labor unions—near record highs. But despite growing support for unions, billionaire- and special interest-funded attacks on workers’ unions and labor laws have eroded union density and made it harder for workers to organize. The share of American workers who are union members has fallen from roughly one in three workers in 1956 to a new low of 9.9 percent in 2024. The PRO Act restores fairness to the economy by strengthening the federal law that protects workers’ right to join a union and bargain for higher pay, better benefits, and safer workplaces.
    “Right now, Donald Trump and Elon Musk are attacking workers, including mass firing people by the tens of thousands, left and right, regardless of how important that work is,” said Senator Murray. “Reintroducing the PRO Act is more important now than ever. This is about making sure we are not just pushing back—but also pushing forward: charting a positive vision for workers, and daring Republicans to make their actions match their words. Who do you stand with—the billionaires like Elon Musk and Donald Trump—whose favorite two words are ‘you’re fired?’ Or, do you stand with hard working American women and men. People who just want fair pay, decent treatment, and a government that works to make their lives better, not worse? That should not be too much to ask! I’m going to keep fighting, come hell or high water, to make it easier for workers to join together and fight for the better pay and working conditions they deserve.”
    The PRO Act protects the basic right to join a union and:
    Holds employers accountable for violating workers’ rights by authorizing meaningful penalties, facilitating initial collective bargaining agreements, and closing loopholes that allow employers to misclassify their employees as supervisors and independent contractors.
    Empowers workers to exercise their right to organize by strengthening support for workers who suffer retaliation for exercising their rights, protecting workers’ right to support secondary boycotts, ensuring workers’ unions can collect “fair share” fees, and authorizing a private right of action for violation of workers’ rights.
    Secures free, fair, and safe union elections by preventing employers from interfering in union elections, prohibiting captive audience meetings, and requiring employers to be transparent with their workers.
    The PRO Act is supported by: AFL-CIO, American Federation of Musicians (AFM), American Federation of Teachers (AFT), Communications Workers of America (CWA), Department of Professional Employees, AFL-CIO (DPE), International Alliance of Theatrical Stage Employees (IATSE), International Association of Machinists and Aerospace Workers (IAM), International Association of Sheet Metal, Air, Rail and Transportation Workers (SMART), International Brotherhood of Electrical Workers (IBEW), International Union of Bricklayers and Allied Craftworkers (BAC), International Union of Painters and Allied Trades (IUPAT), Laborers’ International Union of North America (LiUNA), National Nurses United (NNU), National Postal Mail Handlers Union (NPMHU), Service Employees International Union (SEIU), Transport Workers Union of America, AFL-CIO (TWU), United Automobile, Aerospace and Agricultural Implement Workers of America (UAW), and United Steelworkers (USW).
    Throughout her career, Senator Murray has championed workers’ rights and fought to protect their right to join and form a union in order to stand together and demand better pay, benefits, and working conditions. Senator Murray first introduced the PRO Act in the 116th Congress and she also leads the Wage Theft Prevention and Wage Recovery Act, comprehensive legislation to put hard-earned wages back in workers’ pockets and crack down on employers who unfairly withhold wages from their employees. Murray also introduced the CHILD Labor Act last Congress, new legislation to protect children from exploitative child labor practices and hold the companies and individuals who take advantage of them accountable. Among many other pieces of pro-worker legislation, Murray also leads the Paycheck Fairness Act to combat wage discrimination and help close the wage gap, and has helped lead the fight for paid family and medical leave since she first joined Congress.
    The full text of the PRO Act is HERE.
    A fact sheet on the PRO Act is HERE.
    A section-by-section summary of the PRO Act is HERE.
    Senator Murray’s full remarks, as delivered at today’s press conference, are below and video is HERE:
    “The difference in values between Democrats and Republicans, the difference in who we are fighting for, could not be more clear, or more stark.
    “Right now, Donald Trump and Elon Musk are attacking workers—including mass firing people by tens of thousands, left and right—regardless of how important their work is or the skill and pride with which they are doing it.
    “In fact, he fired NLRB Member Gwynne Wilcox—leaving workers in limbo simply due to President Trump’s unprecedented and illegal firing!
    “Meanwhile, I want you to know, Democrats are fighting for workers—we’re fighting to protect those who are being attacked by Trump and Musk and fighting to empower workers across our country to better advocate for themselves and wield their rights at this pivotal moment.
    “That is why reintroducing the PRO Act is more important now than ever. This is about making sure that we are not just pushing back—but also pushing forward, charting a positive vision for workers, and daring Republicans to make their actions match their words.
    “Who do you stand with—the billionaires like Elon Musk and Donald Trump—whose favorite two words are ‘You’re fired?’
    “Or do you stand with hard working American women and men—people who just want fair pay, decent treatment, and a government that actually works to make their lives better, not worse? That should not be too much to ask!
    “I’m very proud to be a leader of this bill, and I want you to know, I will keep fighting—come hell or high water—to make it easier for workers to join together and fight for the better pay and working conditions they deserve. Thank you.”

    MIL OSI USA News –

  • MIL-OSI Canada: First Ministers’ statement on eliminating internal trade barriers in Canada

    Source: Government of Canada – Prime Minister

    “In the face of the United States’ unjustified decision to impose tariffs on Canadian goods, Canada’s First Ministers recognize this is a pivotal moment for Canada to take bold and united action. We must increase our economic resilience, reduce dependence on one market, and strengthen our domestic economy for the benefit of Canadian workers and businesses now and in the future. One key step is to make it easier for Canadians to do business with each other from coast to coast to coast.

    “At their meeting yesterday, the Prime Minister and Canada’s premiers agreed to build on the foundational work of the Committee on Internal Trade and strengthen Canada’s domestic economy by reducing barriers to internal trade and labour mobility across the country. All First Ministers agreed that now is the time to take meaningful action to further liberalize and support the Canadian market so that goods, services, and workers can move freely.

    “First Ministers agreed that certified professionals with credentials in one jurisdiction should be able to work anywhere in Canada. Whether relocating for family reasons or pursuing job opportunities elsewhere, workers should be free to do what they are trained to do and contribute to the Canadian economy. Due to its linguistic specificity among other things, Quebec, while adhering to the overall goal of increasing workforce mobility, intends to implement measures for credentials recognition when it deems it in line with its own objectives.

    “The Prime Minister and premiers directed the Committee on Internal Trade to work with the Forum of Labour Market Ministers, to develop a service standard of 30 days or better to get people working faster, and provide a plan for Canada-wide credential recognition, while taking into account jurisdictional specificities such as language provisions, by June 1.

    “First Ministers also agreed that now is the time to choose Canada. We must ensure that all Canadians have access to Canadian-made goods, no matter where they are in the country. The Prime Minister and premiers applauded Internal Trade Ministers for undertaking a review of exceptions under the Canadian Free Trade Agreement by June 1 in addition to those removed by governments in recent years, and for their efforts to reconcile and reduce regulatory differences between jurisdictions, particularly through the negotiation of mutual recognition requirements in the trucking sector and the movement of consumer goods. Most First Ministers also committed to allowing direct-to-consumer alcohol sales for Canadian products. These efforts will benefit Canadian businesses and citizens by opening new domestic markets, reducing the cost of consumer goods at a time when U.S. tariffs will impact affordability.

    “First Ministers recognized that removing these barriers will make it easier for businesses in Canada to access new revenue and market opportunities here at home, while attracting greater foreign investment and trade.

    “The Prime Minister and the premiers agreed to continue working together as they implement the shared plan to strengthen internal trade in Canada. Team Canada stands firm, united, resolute, and ready to face this challenge, and any others that come our way.”

    Quick Facts

    • Last year, more than $530 billion worth of goods and services moved across provincial and territorial borders, representing almost 20 per cent of Canada’s gross domestic product.
    • Trade within Canada is an essential driver of the Canadian economy, and eliminating barriers to internal trade will lower prices, increase productivity, and add up to $200 billion to the Canadian economy. Internal trade without barriers means more affordable everyday items and a greater choice for Canadians.
    • The Canadian Free Trade Agreement (CFTA) came into force on July 1, 2017, to reduce and eliminate barriers to the free movement of persons, goods, services, and investments within Canada and to establish an open, efficient, and stable domestic market.
    • The Committee on Internal Trade (CIT) consists of all federal, provincial, and territorial ministers responsible for internal trade, and is responsible for supervising the implementation of the CFTA, including providing oversight over a number of CFTA working groups; assisting in the resolution of disputes; approving the annual operating budget of the Internal Trade Secretariat (ITS); and considering any other matter that may affect the operation of the CFTA.
    • Committee on Internal Trade (CIT): On February 28, 2025, the Federal, Provincial, Territorial Committee on Internal Trade was convened and agreed to the following actions:
      • Enhancing the commitments under the Canadian Free Trade Agreement (CFTA): All governments committed to conducting a rapid review of all remaining party-specific exceptions in the CFTA and swiftly conclude negotiations for incorporating the financial services Sector into the Agreement. This will ensure a free and open internal market for Canadian businesses and workers. Building on removals some governments have completed since 2017, to date, a minimum of 40 exceptions have been identified for removal by five governments, with all exception reviews to be completed by June 1, 2025.
      • Reducing regulatory and administrative burden through mutual recognition: A strong domestic market starts with goods freely moving between provinces and territories. Building on the pilot project on mutual recognition in trucking, all governments have now agreed to immediately launch negotiations for mutual recognition of all consumer goods (excluding food). This would guarantee that a good certified in one province can be bought and sold in any other, without additional red tape. Parties may also pursue a broader mutual recognition agreement covering most or all sectors of the economy through unilateral, bilateral, or multilateral initiatives. The CIT committed to tabling an Action Plan for Mutual Recognition of Consumer Goods by March 31, 2025.
      • Facilitating labour mobility: Internal trade and labour market ministers will prioritize efforts to further improve transparency and reduce administrative burden for labour mobility applicants to support the timely and seamless mobility of workers to fill jobs wherever they are available, including by adopting a service standard of 30 days or better to process applications.
      • Launching pan-Canadian direct-to-consumer alcohol sales for Canadian products: The Governments of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, and Canada have committed to improve the trade of alcohol products between participating jurisdictions by advancing direct-to-consumer sales for Canadian products. Currently, British Columbia allows for direct-to-consumer sales for wine, while Manitoba is already open to direct-to-consumer sales on all alcoholic beverages. The Yukon is exploring options for direct-to-consumer alcohol sales within the territory.
      • Employing a Team Canada approach to promote the domestic economy: All governments committed to working together to promote growth and resiliency in the domestic market by helping Canadian businesses identify and access new opportunities in other provinces and territories including through domestic trade missions.

    MIL OSI Canada News –

  • MIL-OSI USA: Governor Polis Pours a Pint For Colorado Pint Day at Novel Strand Brewing Co.

    Source: US State of Colorado

    DENVER – Today, Governor Polis visited Novel Strand Brewing Co. to highlight Colorado’s microbreweries, and take part in the festivities by pouring a pint.

    “Colorado is home to many small business breweries that strengthen our economy, are important community gathering places, and create good jobs. As we celebrate Colorado Pint Day, which spreads Colorado’s love for craft beer, I encourage Coloradans to support our local small businesses,” said Governor Polis.

    Today marks the 10th Annual Colorado Pint Day, a time-honored tradition that has reached a high status with beer lovers flocking to participating breweries every year to purchase Colorado Pint Day limited edition glassware. $1 of each pint glass sold is donated to the Colorado Brewers Guild whose mission is to promote, protect and propel independent craft breweries in the State of Colorado. This year also marks the 4th annual Colorado Pint Day art competition, spotlighting local artist and pint designer Leanne Bridie of Denver. Titled, Beer Is For Everyone, Birdies pint design aims to promote and highlight a Colorado for all. Birdie, previously won Cohesion Brewings coaster design contest, and has designed a series of label art for Novel Strand Brewing.

    (Title: Beer is for Everyone)

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    MIL OSI USA News –

  • MIL-OSI Australia: NAB support for customers and colleagues impacted by Tropical Cyclone Alfred

    Source: National Australia Bank

    • NAB announces assistance for customers and colleagues affected by Tropical Cyclone Alfred
    • Customers encouraged to contact bank when ready to discuss available financial assistance
    • Temporary closures of select branches to ensure customer and colleague safety

    NAB has today announced disaster relief assistance for customers and colleagues affected by Tropical Cyclone Alfred.

    NAB encourages affected customers to contact the bank when they’re ready to discuss a range of financial relief measures, including:

    • Credit card and personal loan relief
    • Waiving the establishment fee for restructuring business facilities
    • ​​​​​​​Concessional loans to customers seeking support to restructure existing facilities to assist in repairs, restocking and re-opening for business
    • Reducing and moratorium on home and personal loan repayments
    • Wellbeing support for colleagues and customers

    NAB’s Local Personal Banking Executive Tony Story said the measures provide customers with peace of mind, and access to immediate financial support.

    “We want our customers and colleagues to know we’re here to help,” Mr Story said.

    “The number one priority here is their safety. In the coming days, our teams will be on standby to support impacted customers. We are committed to providing extra care and support during these difficult times.

    “Anyone who needs assistance or advice can contact us by calling us or choosing the chat option in the app.

    “When it’s safe to reopen our branches, we’ll also be happy to welcome you back for face to face service.”

    To access financial assistance please call NAB Assist on:  

    • 1300 661 114 for personal customers
    • 1300 881 661 for business customers

    Additional help is available via:  

    • NAB messaging in the App and on Internet Banking
    • At nab.com.au/disaster
    • Agri customers who need help can contact their banker.
    • For NAB insurance claims (damaged homes, contents, and vehicles), please call Allianz on 1300 555 013

    Be aware of Frauds and Scams

    During this time, customers are reminded to stay alert to potential scams. Criminals may use events like this natural disaster as an opportunity to impersonate well-known organisations including banks, insurance or telecommuication providers and government agencies. NAB will never send customers links in unexpected text messages, or ask customers for personal information like passwords or pins.

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    Media Enquiries

    For all media enquiries, please contact the NAB Media Line on 03 7035 5015

    MIL OSI News –