Category: Economy

  • MIL-OSI: Bitcoin Depot Adds Another 11 BTC to its Treasury

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Feb. 25, 2025 (GLOBE NEWSWIRE) — Bitcoin Depot (NASDAQ: BTM) (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and leading fintech company, today announced it has purchased an additional 11.1 Bitcoin as part of its treasury strategy, first announced in June of last year.

    This purchase comes three weeks after the Company’s purchase of 51 Bitcoin earlier this month, bringing its total treasury holdings to 82.6 BTC.

    “Adopting Bitcoin as part of our treasury strategy underscores our long-standing belief in Bitcoin as a significant financial asset and a store of value,” said Brandon Mintz, CEO of Bitcoin Depot. “We have always believed in providing easy access to Bitcoin for everyone, and this move reaffirms our confidence in Bitcoin’s potential for growth.”

    About Bitcoin Depot
    Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 29 states through its BDCheckout product. The Company has the largest market share in North America with over 8,400 kiosk locations as of February 25, 2025. Learn more at www.bitcoindepot.com.

    Cautionary Statement Regarding Forward-Looking Statements
    This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, our ability to strengthen our financial profile, and worldwide growth in the adoption and use of cryptocurrencies. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,“ ”plan,“ ”potential,“ ”priorities,“ ”project,“ ”pursue,“ ”seek,“ ”should,“ ”target,“ ”when,“ ”will,“ ”would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.

    These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of our projected financial information; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

    We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

    Contacts:

    Investors 
    Cody Slach
    Gateway Group, Inc. 
    949-574-3860 
    BTM@gateway-grp.com

    Media 
    Brenlyn Motlagh, Ryan Deloney 
    Gateway Group, Inc.
    949-574-3860 
    BTM@gateway-grp.com

    The MIL Network

  • MIL-OSI: The World’s Most Attractive Investment Migration Programs in 2025

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 25, 2025 (GLOBE NEWSWIRE) — Malta retains 1st place in the 2025 Global Citizenship Program Index for the 10th consecutive year, while Greece reaches the top of the 2025 Global Residence Program Index for the first time, highlighting the dominance of European residence and citizenship by investment programs on Henley & Partners’ annual rankings of the most important investment migration programs in the world. 

    The firm onboarded clients from 94 different nationalities in 2024 and received enquiries from over 180 countries. US nationals accounted for 23% of all applications processed by Henley & Partners last year, totaling nearly as many as the next four client nationality groups — Indians, Turkish, Filipinos, and Brits — combined. Comparing 2024 US-American client numbers to five years ago (2019), there has been a staggering increase of over 1,000%. Last year was also record-breaking for the UK, with a 57% increase in the number of applications submitted by British citizens in 2024 versus 2023.

    The two indexes — featured in the 2025 edition of the annual Investment Migration Programs report — offer a systematic analysis and comprehensive benchmarking of the world’s most attractive residence and citizenship by investment offerings, providing the gold standard in the sector. Interactive digital comparisons of the programs are also available, enabling global investors and wealthy families to select what matters most to them when weighing up their options.

    Dr. Christian H. Kaelin, Chairman of Henley & Partners, says, “the publication is important for governments and policy makers looking to attract and retain wealth to achieve greater fiscal autonomy and economic growth. In this era of heightened global volatility, nation states are using residence and citizenship by investment programs as an innovative financing tool to fund development initiatives that mitigate sustainability and climate-related risks, and that directly benefit their citizens. For investors, alternative residence and citizenship is a unique investment that enables them to be as globally diversified as their wealth portfolios.”

    Citizenship programs: Malta remains the gold standard

    The Global Citizenship Program Index ranks 14 programs, with the strategically located European nation of Malta scoring 76 out of 100 and taking top honors for the 10th consecutive year. Retaining 2nd place with a score of 75 is Austria’s premium citizenship by investment offering, which requires applicants to make a substantial contribution to the country’s economy. The next two ranks are occupied by Caribbean island nations: Grenada 3rd with a score of 69, and Antigua and Barbuda 4th with 67.

    Three other Small Island Developing States (SIDS) share the 5th spot, each scoring 66: newcomer to the index, Nauru, along with St. Kitts and Nevis and St. Lucia. Nauru’s citizenship program offers significant advantages in global mobility, granting an alternative and safe passport to travel on, with visa-free access to some of the world’s key wealth hubs. Successful applicants will also be contributing to climate crisis solutions in the South Pacific, where SIDS face rising sea levels and biodiversity loss, with the funds channeled into development projects, including climate resilience initiatives, infrastructure improvements, renewable energy projects, and sustainable economic diversification.

    Residence programs: Greece takes the crown

    In the 2025 Global Residence Program Index, which ranks 26 programs, Greece’s popular golden visa program secures top spot with a score of 73 out of 100, toppling Portugal, which has held or shared first place for the past nine years. Portugal now ranks joint 3rd with Italy and the UK, all scoring 70, while Switzerland, which has an option developed by Henley & Partners that combines private residence with Swiss forfait tax provisions, ranks 2nd with a score of 72.

    Australia, which recently launched its National Innovation Visa (NIV) Program to attract high-level tech skills, Canada, which introduced changes to its Start-Up Visa Program to enhance its appeal and flexibility for entrepreneurs, and Spain (due to close in early 2025) are all joint 4th, each scoring 69, and the UAE, which strategically expanded its golden visa program last year to attract top talent and drive growth and innovation, rounds up the Top 5 with a score of 68.

    One of two new entrants to the index in 2025 is Hungary which ranks 6th with a score of 67. Small but powerful wealth hubs — Luxembourg and Singapore — occupy the 7th and 8th spots, scoring 66 and 65, respectively, while two others share the 9th spot: Jersey and Panama, both scoring 64. Costa Rica, the second newcomer to the index, rounds up the Top 10 with a score of 63 out of 100 and offers investors and their families a business-friendly landscape, a favorable tax regime, and a safe environment in Central America.

    Read Full Press Release

    Media Contact: Sarah Nicklin

    sarah.nicklin@henleyglobal.com

    Mobile +27 72 464 8965

    The MIL Network

  • MIL-OSI: Ponemon Cybersecurity Report: Insider Risk Management Enabling Early Breach Detection and Mitigation

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., Feb. 25, 2025 (GLOBE NEWSWIRE) — DTEX Systems, the trusted leader of insider risk management, today announced the findings of the 2025 Cost of Insider Risks Global Report, independently conducted by the Ponemon Institute. For the first time since the inception of the report, the average time to contain an insider incident has declined (81 days, down from 86 in 2023).

    The decrease comes amid growing adoption of insider risk management solutions. The findings show that organizations are spending 16.5% of their annual IT security budget on insider risk management – up from 8.2% in 2023. Eighty-one percent of organizations now have or are planning to have an insider risk management program. Notably, of those with an insider risk management program, 65% say their program was the only security strategy that enabled them to pre-empt a data breach by detecting insider risk early. Meanwhile, 63% of respondents cited faster breach response as a top outcome of early insider risk detection.

    “With escalating foreign interference, global remote workforces, and a rapidly shifting political landscape, the need for proactive insider risk management has never been greater. Insider-driven security incidents result in significant financial and reputational costs. However, organizations investing in dedicated insider risk management programs are achieving faster containment or preventing incidents entirely—a decisive win in the fight against data loss,” DTEX Systems CEO Marshall Heilman said.

    “The findings underscore the importance of insider risk management as an essential component of security and highlight key opportunities for governments, critical infrastructure, and commercial organizations to protect sensitive data and maintain operational integrity in an increasingly volatile threat landscape.”

    Now in its sixth edition, the 2025 Cost of Insider Risks Global Report is a comprehensive study designed to understand the financial consequences of insider risks caused by negligent or mistaken employees, outsmarted employees (including insider incidents related to credential theft), or malicious insiders. This year’s report examines how organizations are funding their insider risk management programs and introduces new data evaluating the effectiveness.

    “Our research findings highlight the growing need to drive awareness of the increasing costs of insider risks, often occurring due to employee negligence while handling sensitive data,” Ponemon Institute Chairman and Founder Larry Ponemon said.

    “This study helps materialize risk by shining light on the increasing cost behind an incident to help organizations reduce containment time and ultimately, reduce cost.”

    Key findings of the 2025 Cost of Insider Risks Global Report include:

    • Post-incident activity costs have climbed significantly, contributing to a higher average annualized cost of insider risk: $17.4M — up from $16.2M in 2023. The average costs of containment ($211,021) and incident response ($154,819) are the most expensive activity cost centers (up from $179,209 and $113,635 in 2023 respectively). Escalation is the least costly activity center at $32,242.
    • For the first time since the inception of the report, the time to contain an insider incident has declined. The average time to contain an insider incident has reduced to 81 days, down from 86 days in 2023.
    • Insider risk management is affording companies a proactive approach to security through early insider risk detection. 65% said their insider risk management program was the only security strategy that effectively enabled them to pre-empt a data breach by detecting insider risk early.
    • Companies with an insider risk management program are saving time, money, and reputational damage associated with a breach. When asked the top three outcomes of having an insider risk management program, 63% said saved time in responding to a breach, 61% said protected brand reputation, and 59% said saved money lost in a breach.
    • Organizations are increasingly adopting insider risk management. The amount of IT security budget allocated to insider risk management has more than doubled, rising from 8.2% in 2023 to 16.5%. Additionally, 81% of companies now have or plan to have an insider risk management program, up from 77% in 2023.
    • Companies expect insider risk management budgets to increase. 45% say the current level of funding is inadequate. 46% expect a mild to significant increase in funding in 2025.
    • About half of organizations (49%) agree that technology consolidation is essential or very important. The top three driving factors, ranked by importance, are cost savings (85%), reduced complexity (64%), and faster detection times (61%), followed by scalability (48%), and actionable data (42%).
    • More than half (51%) of organizations say AI and machine learning are essential or very important in the detection and prevention of insider risks. The top three driving factors, ranked by importance, are reduced investigation times (70%), improved behavioral insights (59%), and lowered skillset for insider risk analysts (58%).
    • Health and pharma have the highest average activity costs. The average activity cost for health and pharma is $29.2M, followed by technology and software ($23M).
    • The most prevalent insider security incident continues to be caused by negligent or careless employees. 55% of incidents are due to employee negligence or mistakes, while 25% of incidents are caused by malicious insiders, and 20% by outsmarted insiders.

    Sponsored by DTEX Systems, the 2025 Cost of Insider Risks Global Report is based on responses from 8,306 IT and IT security practitioners in 349 organizations across North America, Europe, Middle East, Africa, and Asia-Pacific region.

    Read the complete 2025 Cost of Insider Risks Global Report here.

    Join Dr. Larry Ponemon, DTEX CTO Rajan Koo and national security veteran Christopher Burgess on March 12 for a webcast on the key findings and turning insights into action.

    About DTEX Systems
    As the trusted leader of insider risk management, DTEX transforms enterprise security by displacing reactive tools with a proactive solution that stops insider risks from becoming data breaches. DTEX InTERCEPT™ consolidates data loss prevention, user activity monitoring, and user behavior analytics in one lightweight platform to enable organizations to achieve a trusted and protected workforce. Backed by behavioral science, powered by AI, and used by governments and organizations around the world, DTEX is the trusted authority for protecting data and people at scale with privacy by design.

    To learn more about DTEX, visit dtexsystems.com
    Connect with DTEX: LinkedIn | Twitter | YouTube

    Media Contact
    Mariah Gauthier
    dtex@highwirepr.com

    The MIL Network

  • MIL-OSI USA: Risch Introduces Bill to End Taxpayer Funded Handouts to Illegal Immigrants

    US Senate News:

    Source: United States Senator for Idaho James E Risch
    WASHINGTON – U.S. Senator Jim Risch (R-Idaho) introduced today the No Bailout for Sanctuary Cities Actto block federal funding to sanctuary cities intended to benefit illegal immigrants. 
    Risch’s bill aligns with President Trump’s Executive Order “Ending Taxpayer Subsidization of Open Borders”which blocks federal agencies and programs from providing taxpayer-funded services to illegal immigrants.
    “Sanctuary cities abuse taxpayer dollars and fuel the illegal immigration crisis,” said Risch. “My No Bailout for Sanctuary Cities Act stops these jurisdictions from using federal funding to directly give handouts to illegal immigrants.”  
    Risch is joined by U.S. Senators Mike Crapo (R-Idaho), Steve Daines (R-Mont.), Tim Sheehy (R-Mont.), Eric Schmitt (R-Mo.), Pete Ricketts (R-Neb.), Mike Lee (R-Utah), Jim Banks (R-Ind.), and Cindy Hyde-Smith (R-Miss.) in introducing the No Bailout for Sanctuary Cities Act. Representative Nick LaLota (R-N.Y.) introduced the bill in the House of Representatives.
    “Not a single taxpayer dollar should be used to provide unwarranted hand-outs to non-citizen migrants or to cities giving them any unearned financial advantages,” said Crapo. “Federal resources should be used to secure the borders, not invite and encourage illegal immigration.
    “Montanans are paying the price of Biden’s crisis at the southern border, but thankfully with President Trump in office, we’re working together to restore order,” said Daines. “I’m glad to join my colleagues in introducing a bill to prevent Montana taxpayer dollars from ever being used to fund sanctuary cities, which will deter illegal immigration and make our communities safer.”
    “Nobody in their right mind would say it’s a good idea to force hardworking American taxpayers to subsidize sanctuary cities and incentivize the illegal invasion of our country,” said Sheehy. “It’s time we put an end to the backward policies that encourage illegal immigration, and I’m proud to stand with my colleagues in support of this America First bill to bring back common sense, restore fiscal sanity, and put the interests of our people first.”
    “Sanctuary states and cities that refuse to enforce the law make Americans less safe,” said Ricketts. “This bill would bring needed accountability to those who facilitate illegal immigration and bring justice for the victims of sanctuary policies.”
    “Lawless so-called sanctuary cities should no longer get a free pass to sabotage our national security and the safety of communities across America,” said Lee. “Under this legislation, if you ignore federal law and refuse to hand over dangerous criminals to ICE and other authorities, you don’t get federal funding. American taxpayers should no longer be compelled to support sanctuary cities and states which endanger their families.”
    “Continuing to send federal tax dollars to cities that use those funds to aid and abet illegal immigration is asinine. If state and local leaders refuse to comply with federal law in the effort to defend our communities from criminal aliens, they must be held accountable,” said Banks. “This bill holds these incompetent leaders to account when they undermine the safety of the Americans they govern.”
    “Folks in Mississippi and around the country are baffled by cities and states that aid and abet illegal immigration, and they’re right to question why their taxpayer dollars are being used to prop up these so-called sanctuary cities.  Senator Risch’s bill would begin the process of ending the gravy train for those jurisdictions that flaunt our immigration and border laws,” Hyde-Smith said.
    The No Bailout for Sanctuary Cities Act would:
    Define “sanctuary jurisdiction” as any local or state government entity that withholds information regarding an individual’s citizenship status from federal, state, or other local authorities; and
    Prevent sanctuary jurisdictions from receiving federal funds for the specific benefit of illegal immigrants. 

    MIL OSI USA News

  • MIL-OSI Russia: Financial news: Applications are now open for participation in the FINOPOLIS.365 Youth Program

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    Students and young professionals will develop solutions for specific cases from representatives of the financial market. This year, the tasks are related to three topics: “Artificial Intelligence”, “Data Exchange”, “Distributed Registries and Tokenization”. The results will be summed up at the Forum of Innovative Financial Technologies FINOPOLIS 2025.

    After submitting an application, participants will gain access to the training modules of the Bank of Russia Fintech Hub. The training will help them qualify for participation in regional case championships, which will be held in Moscow, St. Petersburg, Vladivostok, Chelyabinsk, Tomsk, Samara and the federal territory of Sirius. The winners and prize-winners of each regional stage will meet on October 8–10 at FINOPOLIS 2025.

    The finalists’ projects will be assessed by a jury that will include the management of the Bank of Russia, the largest fintech companies and banks. The prize fund for the final in 2025 is 1.5 million rubles.

    Applications will be accepted until April 17. More detailed information can be found on the website of the Youth Program FINOPOLIS.365.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 23404

    MIL OSI Russia News

  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Solomon Islands

    Source: IMF – News in Russian

    February 25, 2025

    Washington, DC: On February 19, 2025, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Solomon Islands.

    Solomon Islands has weathered important shocks including civil unrest and the pandemic, successfully hosted the Pacific Games, and conducted peaceful general elections. These achievements have raised the country’s profile and strengthened national unity, but with costs—public debt has nearly tripled since before the pandemic, and the government’s cash reserves have been significantly depleted.

    Modest growth is expected at 2.8 percent in 2025, slightly above the 2.4 percent growth estimated for 2024, while inflation, estimated to have returned to 3.4 percent at end-2024, is envisaged to reach 3.9 percent at end-2025. The fiscal deficit is expected to widen slightly from 3.1 percent of GDP in 2024 to 3.3 percent of GDP in 2025, underpinned by continued spending pressures and externally financed infrastructure projects. The current account deficit is estimated to have narrowed to 4.2 percent of GDP in 2024, but projected to widen to 7.7 percent of GDP in 2025 as economic activity gains momentum. Foreign exchange reserves remain adequate, covering 9 months of imports.

    Risks to the outlook are tilted to the downside. They include under execution of the budget, extreme climate events, political instability, and commodity price volatility. Declining logging activity and the undiversified economic base, compounded by weak governance, constrain growth potential. Both the current account and fiscal deficits are expected to persist over the medium term.

    Executive Board Assessment[2]

    Executive Directors agreed with the thrust of the staff appraisal. They concurred that while the Solomon Islands’ economy has weathered multiple shocks well and recently benefited from successfully hosting the Pacific Games and peaceful general elections, public debt is increasing, medium-term growth prospects appear moderate, and per capita income growth remains stagnant. Against this backdrop, Directors emphasized the importance of rebuilding cash buffers and ensuring fiscal sustainability, while boosting growth prospects through economic diversification and governance reforms.

    Directors stressed the need to improve the effectiveness of fiscal policy by addressing weaknesses in fiscal data and public financial management, including by ending the practice of unfunded spending. They also called for tightening the 2025 Budget to start a gradual recovery of cash balances. Directors underscored the importance of creating fiscal space to accelerate investment in development priorities. To this end, they recommended advancing domestic revenue mobilization, such as introducing a value added tax. Enhancing the quality, transparency, and accountability of public expenditure, including by undertaking the Public Expenditure and Financial Accountability assessment, would also be important. Directors saw merit in introducing a simple, ex-ante guideline for annual budget formulation as an interim step toward a fiscal rule.

    Directors agreed that the current monetary policy stance and exchange rate regime are appropriate. They stressed the importance of preserving the central bank’s autonomy, including by limiting purchases of government bonds and implementing the remaining Safeguards Assessment recommendations. Directors also underscored the need to keep the exchange rate fully aligned with the value of the updated currency basket and to enhance transparency and communication with market participants. While the financial sector remains stable, Directors encouraged further reforms to strengthen regulatory and supervisory frameworks and boost financial intermediation and inclusion. They stressed the need to strengthen the AML/CFT framework, including due to the planned introduction of the Citizenship by Investment program.

    Directors encouraged the acceleration of structural reforms to support economic diversification and private sector development, with capacity development support from the IMF and other development partners. They agreed that addressing governance weaknesses remains a priority, including by improving the capacity and independence of the anti-corruption institution.

    Table 1. Solomon Islands: Selected Economic Indicators, 2019–2029

    Per capita GDP (2023): US$2200

           

    Population (2023): 768,690

           

    Quota: SDR 20.8 million

           
     

    2019

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

             

    Est.

    Proj.

    GROWTH AND PRICES

    (In percent change, unless otherwise indicated)

    Real GDP

    1.7

    -3.4

    2.6

    2.4

    2.7

    2.5

    2.8

    2.9

    2.9

    3.0

    3.0

    CPI (period average)

    2.2

    2.9

    0.2

    5.4

    5.1

    3.7

    3.8

    3.7

    3.4

    3.3

    3.3

    CPI (end of period)

    2.6

    -2.6

    4.6

    8.7

    4.3

    3.4

    3.9

    3.5

    3.3

    3.3

    3.3

    GDP deflator

    1.2

    -1.3

    -5.5

    2.0

    3.9

    1.3

    1.3

    1.3

    1.4

    1.4

    1.4

    Nominal GDP (in SI$ millions)

    13,234

    12,617

    12,228

    12,775

    13,911

    14,685

    15,492

    16,370

    17,311

    18,235

    19,217

    Nominal GDP (in US$ millions)

    1,619

    1,536

    1,523

    1,566

    1,661

    1,753

    1,850

    1,954

    2,067

    2,177

    2,294

    CENTRAL GOVERNMENT OPERATIONS

    (In percent of GDP)

    Total revenue and grants

    34.1

    37.9

    35.9

    38.3

    36.3

    32.7

    32.5

    32.6

    32.7

    32.8

    32.8

    Revenue

    25.8

    24.6

    24.8

    23.1

    22.9

    23.2

    23.0

    23.1

    23.2

    23.3

    23.3

    Grants

    8.2

    13.4

    11.1

    15.2

    13.4

    9.5

    9.5

    9.5

    9.5

    9.5

    9.5

    Total expenditure

    35.6

    40.4

    37.8

    40.8

    40.1

    35.8

    35.7

    35.8

    35.8

    35.8

    35.9

    Expense

    29.0

    31.9

    28.3

    31.4

    29.8

    27.9

    27.2

    27.3

    27.4

    27.4

    27.5

    Net acquisition of nonfinancial assets

    6.6

    8.5

    9.5

    9.3

    10.3

    7.9

    8.5

    8.5

    8.4

    8.4

    8.4

    Net lending (+) / Net borrowing (-)

    -1.5

    -2.4

    -1.9

    -2.5

    -3.8

    -3.1

    -3.3

    -3.2

    -3.1

    -3.1

    -3.1

    External

    0.0

    -1.4

    -1.1

    -0.1

    -2.9

    -2.3

    -1.8

    -1.9

    -1.9

    -1.8

    -1.8

    Domestic

    -1.5

    -1.0

    -0.7

    -2.4

    -0.9

    -0.8

    -1.5

    -1.3

    -1.2

    -1.2

    -1.3

    Central government debt 1/

    7.8

    12.8

    15.9

    15.5

    20.3

    22.3

    24.4

    26.2

    27.9

    29.5

    31.0

    Public domestic debt

    1.7

    2.8

    6.1

    5.9

    8.6

    8.9

    9.8

    10.6

    11.1

    11.7

    12.4

    Public external debt

    6.1

    10.0

    9.8

    9.6

    11.7

    13.4

    14.5

    15.6

    16.7

    17.7

    18.6

    MACROFINANCIAL

    (In percent change)

    Credit to private sector

    6.2

    0.3

    -0.4

    0.8

    4.7

    3.0

    3.0

    3.0

    3.0

    3.0

    3.0

    Broad money

    -3.1

    6.6

    1.9

    5.3

    6.1

    6.8

    5.5

    5.7

    5.8

    5.3

    5.4

    Reserve money

    -7.1

    23.0

    10.6

    4.0

    9.9

    6.0

    5.5

    5.7

    5.8

    5.3

    5.4

    BALANCE OF PAYMENTS

    (In percent of GDP, unless otherwise indicated)

    Current account balance

    -9.5

    -1.6

    -5.1

    -13.7

    -10.4

    -4.2

    -7.7

    -7.5

    -7.4

    -7.5

    -7.4

    Trade balance (goods and services)

    -10.0

    -8.5

    -13.4

    -22.3

    -19.8

    -11.6

    -15.3

    -15.3

    -15.6

    -16.1

    -16.5

    Exports

    36.4

    28.5

    26.9

    25.8

    32.6

    34.6

    33.2

    32.8

    32.1

    31.4

    30.7

    Imports

    46.4

    37.0

    40.4

    48.1

    52.3

    46.2

    48.6

    48.1

    47.7

    47.5

    47.2

    Gross Remittances

    1.1

    1.5

    2.1

    3.3

    3.7

    3.5

    3.6

    3.8

    3.9

    4.1

    4.3

    Capital and Financial Account

    7.3

    3.0

    6.7

    13.2

    13.6

    4.0

    6.9

    7.3

    7.5

    7.5

    7.5

    Foreign direct investment (+ = decrease)

    -1.8

    -0.4

    -1.5

    -2.6

    -4.3

    -0.9

    -2.3

    -2.6

    -2.7

    -2.8

    -2.9

    Overall balance (+ = increase)

    -2.1

    4.8

    2.5

    -2.0

    3.3

    -0.2

    -0.8

    -0.2

    0.1

    0.0

    0.1

    Gross official reserves (in US$ millions, end of period) 2/

    574.1

    660.6

    694.5

    655.2

    682.0

    679.1

    664.3

    661.0

    662.8

    663.2

    664.6

    (in months of next year’s imports of GNFS)

    12.1

    12.9

    11.1

    9.0

    10.1

    9.1

    8.5

    8.0

    7.7

    7.4

    7.0

                           

    EXCHANGE RATE (SI$/US$, end of period)

    8.2

    8.0

    8.1

    8.3

    8.5

    Real effective exchange rate (end of period, 2010 = 100)

    127.5

    129.9

    124.8

    132.3

    136.0

    Sources: Data provided by the authorities; and IMF staff estimates and projections.

    1/ Includes disbursements under the Rapid Credit Facility (RCF).

    2/ Includes SDR allocations made by the IMF to Solomon Islands in 2009 and in 2021.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pemba Sherpa

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

    https://www.imf.org/en/News/Articles/2025/02/25/pr25042-solomon-islands-imf-executive-board-concludes-2024-article-iv-consultation

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI: ITS Logistics February Supply Chain Report: Warehouse Lease Costs Stay High, Truckload Contract & Spot Rates See Dip After January Boost

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., Feb. 25, 2025 (GLOBE NEWSWIRE) — ITS Logistics released the February ITS Supply Chain Report. This month, the report confirms truckload rates fell while warehouse lease prices remained high. In addition, 2025 has started strong for the stock and bond markets, with above-average growth making a promising case for strong economic performance throughout the year.

    “Contract and spot rates across reefer and dry vans held strong in January before dipping slightly in February,” said Josh Allen, Chief Commercial Officer for ITS Logistics. “Available capacity in the spot market continues to ease following mid-February’s rate decrease, though moving averages remained above those of 2024. Macro volumes decreased by roughly 5% but are anticipated to increase for reefers as we kick off produce season.”

    According to Truckstop and FTR, dry van spot rates were at their lowest level since late September 2024. Refrigerated spot rates fell to their lowest level since April 2024, and flatbed spot rates continued their general firming in 2025. Furthermore, flatbed spot rates were at their highest level since late October 2024.

    Van rates saw marginal decreases in both spot and contract rates heading into February. Reefer rates also saw dips in contract rates, with spot rates decreasing slightly more than those for dry vans. Available capacity continues to ease following last week’s $0.03/mile decrease to a national seven-day rolling average of $1.66/mile, $0.02/mile higher than last year. Volumes were down 5% last week, and DAT’s Top 50 lanes confirmed carriers received an average of $1.94/mile when ranked by the volume of loads moved.

    “The freight industry isn’t the only sector of logistics experiencing fluctuating prices,” said Ryan Martin, President of Distribution and Fulfillment for ITS Logistics. “Despite a cooling demand over the past two years, warehouse lease prices have remained high due to reduced new construction. This has led to a 4.5% rise in national average asking rents in the fourth quarter of 2024. Warehousing costs are estimated to account for 13% of the total supply chain expenses, while last-mile delivery holds the largest share at 41% of the total supply chain costs.”

    A recent GlobeSt.com report confirmed that mega big box deals have dominated the market, resulting in the number of leases for one million square feet being representative of nearly half of the top 100 leases in 2024. This growth was driven by record-breaking online sales. The report concluded that the demand for mega distribution centers should stabilize in 2025, as occupiers take stock of their inventory needs.

    Overall, by January 2025, the U.S. economy continued to expand, with projections indicating growth just above 2% for the year. However, inflation remains a concern, prompting the Federal Reserve to reconsider potential interest rate cuts. Globally, growth is projected at 3.3% for both 2025 and 2026, slightly below the historical average.

    “The big wildcard moment for 2025 will be the recovery of business confidence,” said Stan Kolev, Chief Financial Officer of ITS Logistics. “Uncertainty about how the newly elected U.S. administration will proceed on tax, regulation, and trade policy may keep companies sidelined in 2025. In addition, renewed inflationary pressures could interrupt the monetary policy pivot, with high debt levels having the ability to create vulnerabilities that may manifest themselves suddenly. Furthermore, the ongoing geopolitical issues, including trade disputes and regional conflicts, pose risks to global stability.”

    The Brookings Institution confirmed that expected tariffs would cause employment to decline by 0.11% from the 25% tariffs on imports and rise to a 0.25% loss of jobs with retaliation. This will equate to over 177,000 job losses from the 25% tariff, rising to over 400,000 job losses in the event Canada and Mexico retaliate.

    ITS Logistics offers a full suite of network transportation solutions across North America and distribution and fulfillment services to 95% of the U.S. population within two days. These services include drayage and intermodal in 22 coastal ports and 30 rail ramps, a full suite of asset and asset-lite transportation solutions, omnichannel distribution and fulfillment, LTL, and outbound small parcel.

    The monthly ITS Supply Chain Report serves to inform ITS employees, partners, and customers of marketplace changes and updates. The information in the report combines data provided through DAT and various industry sources with insights from the ITS team. Visit here for a comprehensive copy of the report with expected industry insights and market updates.

    About ITS Logistics
    ITS Logistics is one of North America’s fastest-growing, asset-based modern 3PLs, providing solutions for the industry’s most complicated supply chain challenges. With a people-first culture committed to excellence, the company relentlessly strives to deliver unmatched value through best-in-class service, expertise, and innovation. The ITS Logistics portfolio features North America’s #19 asset-lite freight brokerage, the #12 drayage and intermodal solution, a top 50 dedicated fleet, an innovative cloud-based technology ecosystem, and a nationwide distribution and fulfillment network.

    Media Contact
    Amber Good
    LeadCoverage
    amber@leadcoverage.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1e87d831-e0e4-499f-bbb8-735fa81c1386

    The MIL Network

  • MIL-OSI: Cardinal Energy Ltd. Announces $40 Million Bought Deal Offering of Senior Subordinated Unsecured Debentures

    Source: GlobeNewswire (MIL-OSI)

    THE BASE SHELF PROSPECTUS IS ACCESSIBLE, AND THE PROSPECTUS SUPPLEMENT AND ANY AMENDMENT TO THE FOREGOING DOCUMENTS WILL BE ACCESSIBLE WITHIN TWO BUSINESS DAYS, ON SEDAR+

    NOT FOR DISTRIBUTION IN THE UNITED STATES.
    FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW

    CALGARY, Alberta, Feb. 25, 2025 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company”) (TSX: CJ) is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the “Underwriters”) co-led by CIBC Capital Markets, RBC Capital Markets and ATB Capital Markets, with CIBC Capital Markets and RBC Capital Markets acting as joint-bookrunners, pursuant to which the Underwriters have agreed to purchase for resale to the public, on a bought deal basis, $40 million aggregate principal amount of senior subordinated unsecured debentures due September 30, 2030 (the “Debentures”) at a price of $1,000 per Debenture (the “Offering”). The Company has also granted the Underwriters an option to purchase up to an additional $5 million aggregate principal amount of Debentures, such option to be exercised in whole or in part at the sole discretion of the Underwriters, at any time until two business days prior to the Closing Date (as defined below). The Offering is expected to close on or about March 4, 2025 (the “Closing Date”).

    The Company intends to use the net proceeds of the Offering to first repay and reduce the indebtedness of its outstanding senior credit facility, then to de-risk the completion of the Company’s Reford thermal facility and accelerate the de-risking of the Company’s Kelfield thermal oil opportunity. As well the Company may use some of the proceeds for land and seismic acquisitions to delineate other thermal oil opportunities available to the Company.

    The Debentures will bear interest at a rate of 8.25% per annum, payable semi-annually in arrears on the last business day of March and September of each year commencing on September 30, 2025. The first payment will include accrued and unpaid interest for the period from the Closing Date to, but excluding, September 30, 2025. The Debentures will mature on September 30, 2030 (the “Maturity Date”).

    The Debentures will not be redeemable by the Company before September 30, 2028 (the “First Call Date”). On and after the First Call Date and prior to September 30, 2029, the Debentures will be redeemable, in whole or in part, from time to time at the Company’s option at a redemption price equal to 104.125% of the principal amount of the Debentures redeemed plus accrued and unpaid interest, if any, up to but excluding the date set for redemption. On and after September 30, 2029 and prior to the Maturity Date, the Debentures will be redeemable, in whole or in part, from time to time at the Company’s option at par plus accrued and unpaid interest, if any, up to but excluding the date set for redemption. The Company shall provide not more than 60 nor less than 30 days’ prior notice of redemption of the Debentures. The Company has the option to satisfy its obligations to repay the principal amount of and premium (if any) on the Debentures due at redemption or on maturity of the Debentures by issuing and delivering that number of freely tradeable common shares of the Company to Debenture holders in accordance with the terms of the debenture indenture that will govern the terms of the Debentures.

    The Debentures will be distributed in all provinces of Canada (other than the province of Quebec) by way of a prospectus supplement to the Company’s base shelf prospectus dated March 28, 2024 and by private placement in the United States to “qualified institutional buyers” pursuant to Rule 144A of the U.S. Securities Act of 1933.

    Access to the Base Shelf Prospectus, the Prospectus Supplement, and any amendments to the documents are provided in accordance with securities legislation relating to procedures for providing access to a base shelf prospectus, a prospectus supplement and any amendment to the documents. The Base Shelf Prospectus, the Prospectus Supplement (when filed) and any amendments to these documents may be accessed for free on the System for Electronic Document Analysis and Retrieval (“SEDAR+”) at www.sedarplus.ca. Alternatively, electronic or paper copies of the foregoing documents may be obtained, without charge, from: CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 1-416-956-6378 or by email at mailbox.canadianprospectus@cibc.com or from RBC Dominion Securities Inc., Attention: Distribution Centre, 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2 or by email at Distribution.RBCDS@rbccm.com, by providing the contact with an email address or address, as applicable. The Offering is subject to customary regulatory approvals, including the approval of the TSX.

    This new release is not an offer of securities of Cardinal for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the securities may not be offered or sold in the United States except pursuant to an applicable exemption from such registration. No public offering of securities is being made in the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

    Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws relating to Cardinal’s plans and other aspects of Cardinal’s anticipated future operations, management focus, objectives, strategies, financial, operating and production results. Forward-looking information typically uses words such as “anticipate”, “believe”, “project”, “expect”, “goal”, “plan”, “intend”, “may”, “would”, “could” or “will” or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking statements relating to the anticipated closing date of the Offering and the use of proceeds of the Offering.

    Although Cardinal believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Cardinal can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The intended use of the net proceeds of the Offering may change if the board of directors of Cardinal determines that it would be in the best interests of Cardinal to deploy the proceeds for some other purpose and the closing date for the Offering may be changed. The forward looking statements contained in this press release are made as of the date hereof and Cardinal undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws

    About Cardinal Energy Ltd.

    Cardinal is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. Cardinal differentiates itself from its peers by having the lowest decline conventional asset base in Western Canada. Cardinal has recently announced the commencement of its first thermal SAGD oil development project which will further increase the long-term sustainability of the Company.

    For further information:

    M. Scott Ratushny, CEO or Shawn Van Spankeren, CFO, Laurence Broos, VP Finance or Cody Kwong, Manager Business Development Email: info@cardinalenergy.ca Phone: (403) 234-8681

    The MIL Network

  • MIL-OSI Global: Land reform in South Africa doesn’t need a new law: the state should release property it owns – economists

    Source: The Conversation – Africa – By Johann Kirsten, Director of the Bureau for Economic Research, Stellenbosch University

    South Africa’s new Expropriation Act, which was signed into law by President Cyril Ramaphosa in January 2025, has been at the centre of a political storm set off by the new US administration under President Donald Trump.

    The Expropriation Act is not entirely new. It mainly updates the existing legislation from 1975 to align it with the constitution of democratic South Africa. But some have misinterpreted it as making room for land grabs by the state. That’s not what it does in reality. Property rights remain intact in South Africa.

    Hot on the heels of this furore has been a notice from the minister of land reform and rural development, Mzwanele Nyhontso, that the government is embarking on a new bit of legislation, the “Equitable Access to Land Bill”.

    There have been discussions over the last 10 years about developing a land reform framework bill or land redistribution bill. The main idea is to foster conditions that enable citizens to get access to land equitably. Land ownership was heavily skewed towards white people under apartheid.

    The parliamentary committee heard from the minister on 20 February 2025 that there were gaps between the white paper on South African land policy and existing legislation. The bill seeks to close the gaps. It would provide for, among other things, principles for access to land, access to land by the state and citizens, the identification and selection of beneficiaries, applications and records for land allocations, a register of agricultural land, notification of present land ownership, land ownership ceilings, a land tribunal and regulations.

    Based on our years of work on land reform and agricultural policy it’s unclear to us why such a bill is necessary. We believe there are two reasons a new law would be superfluous. Firstly, South Africa already has roughly 16 laws that address the issue of land. Secondly, policymakers tend to ignore the facts on land reform progress.

    It is hard not to view the obsession with new legislation by every new minister as a distraction from the core issues. The minister should be focusing on distributing the land the government has acquired to black farmers and give them title deeds. This will be sufficient effort to build an inclusive agricultural sector, while continuing with existing programmes of land acquisition from the open market.

    There are also other areas that should be reformed that would make a difference. These include making more finance available to aspirant black farmers and fixing the deeds office to reduce land registration times.

    What’s in place

    There should be no need for new legislation if one considers all the different pieces of legislation and government programmes that are already aimed at a more equitable distribution of land. There are at least 16 laws related to farm land and the restitution and redistribution process. These include:

    • Preservation and Development of Agricultural Land Act, signed into
      law in January 2025

    • State Land Disposal Act, 1961 (Act No. 48 of 1961)

    • Deeds Registries Act, 1937 (Act No. 47 of 1937)

    • Land Reform: Provision of Land and Assistance Act, 1993 (Act No. 126 of
      1993)

    • Restitution of Land Rights Act, 1994 (Act No. 22 of 1994)

    • Communal Property Associations Act, 1996 (Act No. 28 of 1996)

    • Land Reform (Labour Tenants) Act, 1996 (Act No. 3 of 1996)

    • Protection of Informal Land Rights Act, 1996 (Act No. 31 of 1996)

    • Extension of Security of Tenure Act, 1997 (Act No. 62 of 1997).

    In addition, South African policymakers tend to ignore the facts on land reform progress.

    As we have argued before, the mix of government programmes to restore land rights and redistribute land has already addressed 25% of the total area of farm land defined and registered by formal title deeds. This means that 19.5 million hectares of the 77.5 million hectares of South Africa’s farm land have been affected by the government land reform programmes.

    There is an important nuance here: 2.5 million hectares have been acquired by the state and are now owned by the State Land Holding Account.

    Calls for the state to redistribute this land to black farmers have been falling on deaf ears, and black farmers continue to despair.

    The government has been slow to distribute the land it has acquired. This shows that the problem of South Africa’s land reform is not only about acquisition but also the distribution of land with title deeds to beneficiaries.

    Included in the total of 19.5 million hectares are private purchases of farm land by black South Africans. We estimate a total of 2.4 million hectares have been acquired in this way up to the end of 2024.

    These individuals used their own funds or borrowed funds to acquire the land without using any of the state programmes.

    Some answers

    We have always argued that the private transactions where no bureaucrats are involved happen much quicker than any government programmes. The table below shows the relevant statistics for the last four years and confirms the argument.

    The table shows that over the last four years private land transactions (that is without any involvement of bureaucrats) have contributed 32% to the total area of farmland transferred or restituted. The land claims process, in terms of the Restitution of Land Rights Act, has made the biggest contribution of 60% (with 36% of land restituted via financial compensation and 24% of land transferred to claimants). Other government land reform programmes made a very small contribution.

    Do we have more equitable access to farm land (or rural land) after 30 years of democracy? To answer this question, we need to take into account the occupation of farm land under traditional tenure arrangements and occupation on land owned by the state, including the South African Development Trust land as well as the land recently acquired by the state under the Proactive Land Acquisition Strategy programme, which is in most cases leased to black beneficiaries for short terms.

    In addition, we account for the land redistribution programme and the land transferred back to land claimants. The numbers below provide an interesting picture of black ownership of rural land in South Africa. In some provinces, equitable access has shown remarkable progress, as shown in the table below.

    Instead of a new law, this is what’s needed

    First, access to affordable and preferential finance for land acquisition by black farmers would make an important contribution to equitable access. But no new law is needed to enable this. The answer lies in changing the way the Land Bank is funded so that it can provide affordable finance to aspirant farmers. This would be a game changer.

    Secondly, government should act on the president’s proposal to establish the Land Reform Agency, release more unused state land for agricultural use and change the regulations to facilitate private land donations to beneficiaries.

    Thirdly, fix the processes and data issues in the deeds office, which could reduce the time and costs to register property transfers.

    Wandile Sihlobo is the Chief Economist of the Agricultural Business Chamber of South Africa (Agbiz) and a member of the Presidential Economic Advisory Council (PEAC).

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

    ref. Land reform in South Africa doesn’t need a new law: the state should release property it owns – economists – https://theconversation.com/land-reform-in-south-africa-doesnt-need-a-new-law-the-state-should-release-property-it-owns-economists-250674

    MIL OSI – Global Reports

  • MIL-OSI Africa: Land reform in South Africa doesn’t need a new law: the state should release property it owns – economists

    Source: The Conversation – Africa – By Johann Kirsten, Director of the Bureau for Economic Research, Stellenbosch University

    South Africa’s new Expropriation Act, which was signed into law by President Cyril Ramaphosa in January 2025, has been at the centre of a political storm set off by the new US administration under President Donald Trump.

    The Expropriation Act is not entirely new. It mainly updates the existing legislation from 1975 to align it with the constitution of democratic South Africa. But some have misinterpreted it as making room for land grabs by the state. That’s not what it does in reality. Property rights remain intact in South Africa.

    Hot on the heels of this furore has been a notice from the minister of land reform and rural development, Mzwanele Nyhontso, that the government is embarking on a new bit of legislation, the “Equitable Access to Land Bill”.

    There have been discussions over the last 10 years about developing a land reform framework bill or land redistribution bill. The main idea is to foster conditions that enable citizens to get access to land equitably. Land ownership was heavily skewed towards white people under apartheid.

    The parliamentary committee heard from the minister on 20 February 2025 that there were gaps between the white paper on South African land policy and existing legislation. The bill seeks to close the gaps. It would provide for, among other things, principles for access to land, access to land by the state and citizens, the identification and selection of beneficiaries, applications and records for land allocations, a register of agricultural land, notification of present land ownership, land ownership ceilings, a land tribunal and regulations.

    Based on our years of work on land reform and agricultural policy it’s unclear to us why such a bill is necessary. We believe there are two reasons a new law would be superfluous. Firstly, South Africa already has roughly 16 laws that address the issue of land. Secondly, policymakers tend to ignore the facts on land reform progress.

    It is hard not to view the obsession with new legislation by every new minister as a distraction from the core issues. The minister should be focusing on distributing the land the government has acquired to black farmers and give them title deeds. This will be sufficient effort to build an inclusive agricultural sector, while continuing with existing programmes of land acquisition from the open market.

    There are also other areas that should be reformed that would make a difference. These include making more finance available to aspirant black farmers and fixing the deeds office to reduce land registration times.

    What’s in place

    There should be no need for new legislation if one considers all the different pieces of legislation and government programmes that are already aimed at a more equitable distribution of land. There are at least 16 laws related to farm land and the restitution and redistribution process. These include:

    • Preservation and Development of Agricultural Land Act, signed into law in January 2025

    • State Land Disposal Act, 1961 (Act No. 48 of 1961)

    • Deeds Registries Act, 1937 (Act No. 47 of 1937)

    • Land Reform: Provision of Land and Assistance Act, 1993 (Act No. 126 of 1993)

    • Restitution of Land Rights Act, 1994 (Act No. 22 of 1994)

    • Communal Property Associations Act, 1996 (Act No. 28 of 1996)

    • Land Reform (Labour Tenants) Act, 1996 (Act No. 3 of 1996)

    • Protection of Informal Land Rights Act, 1996 (Act No. 31 of 1996)

    • Extension of Security of Tenure Act, 1997 (Act No. 62 of 1997).

    In addition, South African policymakers tend to ignore the facts on land reform progress.

    As we have argued before, the mix of government programmes to restore land rights and redistribute land has already addressed 25% of the total area of farm land defined and registered by formal title deeds. This means that 19.5 million hectares of the 77.5 million hectares of South Africa’s farm land have been affected by the government land reform programmes.

    There is an important nuance here: 2.5 million hectares have been acquired by the state and are now owned by the State Land Holding Account.

    Calls for the state to redistribute this land to black farmers have been falling on deaf ears, and black farmers continue to despair.

    The government has been slow to distribute the land it has acquired. This shows that the problem of South Africa’s land reform is not only about acquisition but also the distribution of land with title deeds to beneficiaries.

    Included in the total of 19.5 million hectares are private purchases of farm land by black South Africans. We estimate a total of 2.4 million hectares have been acquired in this way up to the end of 2024.

    These individuals used their own funds or borrowed funds to acquire the land without using any of the state programmes.

    Some answers

    We have always argued that the private transactions where no bureaucrats are involved happen much quicker than any government programmes. The table below shows the relevant statistics for the last four years and confirms the argument.

    The table shows that over the last four years private land transactions (that is without any involvement of bureaucrats) have contributed 32% to the total area of farmland transferred or restituted. The land claims process, in terms of the Restitution of Land Rights Act, has made the biggest contribution of 60% (with 36% of land restituted via financial compensation and 24% of land transferred to claimants). Other government land reform programmes made a very small contribution.

    Do we have more equitable access to farm land (or rural land) after 30 years of democracy? To answer this question, we need to take into account the occupation of farm land under traditional tenure arrangements and occupation on land owned by the state, including the South African Development Trust land as well as the land recently acquired by the state under the Proactive Land Acquisition Strategy programme, which is in most cases leased to black beneficiaries for short terms.

    In addition, we account for the land redistribution programme and the land transferred back to land claimants. The numbers below provide an interesting picture of black ownership of rural land in South Africa. In some provinces, equitable access has shown remarkable progress, as shown in the table below.

    Instead of a new law, this is what’s needed

    First, access to affordable and preferential finance for land acquisition by black farmers would make an important contribution to equitable access. But no new law is needed to enable this. The answer lies in changing the way the Land Bank is funded so that it can provide affordable finance to aspirant farmers. This would be a game changer.

    Secondly, government should act on the president’s proposal to establish the Land Reform Agency, release more unused state land for agricultural use and change the regulations to facilitate private land donations to beneficiaries.

    Thirdly, fix the processes and data issues in the deeds office, which could reduce the time and costs to register property transfers.

    – Land reform in South Africa doesn’t need a new law: the state should release property it owns – economists
    – https://theconversation.com/land-reform-in-south-africa-doesnt-need-a-new-law-the-state-should-release-property-it-owns-economists-250674

    MIL OSI Africa

  • MIL-OSI United Kingdom: New public procurement rules to drive growth, opportunities for small businesses and exclude suppliers that fail to deliver 

    Source: United Kingdom – Executive Government & Departments

    News story

    New public procurement rules to drive growth, opportunities for small businesses and exclude suppliers that fail to deliver 

    A new public procurement regime under the Procurement Act 2023 is now in force

    • Procurement Act 2023 now in force, delivering growth, driving value for money, and giving small businesses greater access to nearly £400billion of yearly spend. 

    • Strong new powers to exclude and debar suppliers from contracts on grounds of national security or poor performance.

    • Public can scrutinise procurement decisions on new Central Digital Platform.

    New laws putting growth, small businesses and transparency at the heart of public contract awards are now in force, as part of a transformation of the government’s commercial landscape that delivers on the Plan for Change.

    A more open public procurement regime driving value for money is now in place through the Procurement Act 2023, which sets rules that all public bodies must follow when they buy goods and services. 

    The Act will boost growth by slashing red tape for small and medium sized businesses applying for government contracts – combining multiple regulations into one simple set, and publishing procurement data in a standard, open format on a Central Digital Platform.

    It is bolstered by a new National Procurement Policy Statement (NPPS) that sets out this government’s Mission-led priorities which the public sector must have regard to in its procurement activity. 

    The changes open up opportunities for small businesses to bid for public sector contracts, helping deliver growth and opportunity across the UK. It ends late payments that put small businesses at risk, introducing a mandate of 30-day payment terms for all public sector contracts.

    Costs for both business and the public sector will be reduced through simple new processes that drive innovation, offering greater flexibility for buyers to tailor procurement to their exact needs. For example, providing public bodies more opportunities to negotiate with suppliers, and using built-in stages to procurement cycles such as demonstrations and testing prototypes.

    Cabinet Office Minister Georgia Gould said:

    Public sector procurement can now fully deliver on the Plan for Change – unleashing local growth, opening up opportunities and embedding transparency and accountability.

    The Procurement Act, supported by our new National Procurement Policy Statement, will tear down barriers that stop small businesses from winning government work, giving them greater opportunity to access the £400 billion spent on public procurement every year, investing in home-grown talent and driving innovation and growth.

    Shirley Cooper, Crown Representative for Small Businesses, said:

    This once–in-a-generation change to public procurement laws will provide enormous opportunities for small businesses to take a greater share of contracts. 

    The Act, which goes live alongside our bold new National Procurement Policy Statement, will drive economic growth and deliver on the Government’s Missions and the Plan for Change. 

    I thank the public sector for the considerable amount of work done to prepare for and understand these new rules, and how they can fully benefit both businesses and the taxpayer.

    To deliver on this, a Central Digital Platform is now in operation which will streamline processes and cut red tape, allowing suppliers to register their details and see all bidding opportunities in one place. This will encourage more suppliers to bid for government work, increasing competition and in turn supporting economic growth.

    Citizens can also scrutinise public procurement data published on this platform, as part of the Act’s rules for greater transparency.

    The Government will also use tough new powers to investigate supplier misconduct, including underperforming suppliers and those that pose security risks to supply chains, with the ability to debar or exclude them from contracts. 

    The Procurement Review Unit (PRU) and National Security Unit for Procurement (NSUP), now operational as dedicated resources in the Cabinet Office, will carry out this work. The NSUP will take robust action against any organisation, actor or entity which presents a national security threat.

    ADDITIONAL QUOTES

    Emma Jones CBE, founder of Enterprise Nation, said:

    Accessing public sector work can act like a growth accelerator for SMEs. Government contracts are solid and reliable and pay within 30 days. They help SMEs develop and invest in new processes, products and efficiencies, as well as take on more staff in their local community. 

    By seeing Government procurement through this lens, opening up contracts to more diverse and community-based businesses will be a powerful way to deliver economic growth. 

    My organisation has already been busy readying SMEs for this moment. This legislation is the beginning of the next step in the journey to increasing government spend with SMEs and boosting the economy.

    Terry Corby, founder and CEO of Good Business Pays, said:

    The public sector spends around £300 billion every year and represents a huge opportunity to drive growth in the UK. Buying more from SMEs, making it easier for them to tender for work and get paid faster will help drive growth in our communities across the UK. 

    The commitment to pay all suppliers through the supply chain in under 30 days is important. If implemented well, the new Procurement Act will represent the biggest step-change towards best practice payment culture. I founded Good Business Pays five years ago, and provide a great example for all commercial organisations to follow.

    ENDS

    Updates to this page

    Published 25 February 2025

    MIL OSI United Kingdom

  • MIL-OSI Economics: IMF Executive Board Concludes 2024 Article IV Consultation with Solomon Islands

    Source: International Monetary Fund

    February 25, 2025

    Washington, DC: On February 19, 2025, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Solomon Islands.

    Solomon Islands has weathered important shocks including civil unrest and the pandemic, successfully hosted the Pacific Games, and conducted peaceful general elections. These achievements have raised the country’s profile and strengthened national unity, but with costs—public debt has nearly tripled since before the pandemic, and the government’s cash reserves have been significantly depleted.

    Modest growth is expected at 2.8 percent in 2025, slightly above the 2.4 percent growth estimated for 2024, while inflation, estimated to have returned to 3.4 percent at end-2024, is envisaged to reach 3.9 percent at end-2025. The fiscal deficit is expected to widen slightly from 3.1 percent of GDP in 2024 to 3.3 percent of GDP in 2025, underpinned by continued spending pressures and externally financed infrastructure projects. The current account deficit is estimated to have narrowed to 4.2 percent of GDP in 2024, but projected to widen to 7.7 percent of GDP in 2025 as economic activity gains momentum. Foreign exchange reserves remain adequate, covering 9 months of imports.

    Risks to the outlook are tilted to the downside. They include under execution of the budget, extreme climate events, political instability, and commodity price volatility. Declining logging activity and the undiversified economic base, compounded by weak governance, constrain growth potential. Both the current account and fiscal deficits are expected to persist over the medium term.

    Executive Board Assessment[2]

    Executive Directors agreed with the thrust of the staff appraisal. They concurred that while the Solomon Islands’ economy has weathered multiple shocks well and recently benefited from successfully hosting the Pacific Games and peaceful general elections, public debt is increasing, medium-term growth prospects appear moderate, and per capita income growth remains stagnant. Against this backdrop, Directors emphasized the importance of rebuilding cash buffers and ensuring fiscal sustainability, while boosting growth prospects through economic diversification and governance reforms.

    Directors stressed the need to improve the effectiveness of fiscal policy by addressing weaknesses in fiscal data and public financial management, including by ending the practice of unfunded spending. They also called for tightening the 2025 Budget to start a gradual recovery of cash balances. Directors underscored the importance of creating fiscal space to accelerate investment in development priorities. To this end, they recommended advancing domestic revenue mobilization, such as introducing a value added tax. Enhancing the quality, transparency, and accountability of public expenditure, including by undertaking the Public Expenditure and Financial Accountability assessment, would also be important. Directors saw merit in introducing a simple, ex-ante guideline for annual budget formulation as an interim step toward a fiscal rule.

    Directors agreed that the current monetary policy stance and exchange rate regime are appropriate. They stressed the importance of preserving the central bank’s autonomy, including by limiting purchases of government bonds and implementing the remaining Safeguards Assessment recommendations. Directors also underscored the need to keep the exchange rate fully aligned with the value of the updated currency basket and to enhance transparency and communication with market participants. While the financial sector remains stable, Directors encouraged further reforms to strengthen regulatory and supervisory frameworks and boost financial intermediation and inclusion. They stressed the need to strengthen the AML/CFT framework, including due to the planned introduction of the Citizenship by Investment program.

    Directors encouraged the acceleration of structural reforms to support economic diversification and private sector development, with capacity development support from the IMF and other development partners. They agreed that addressing governance weaknesses remains a priority, including by improving the capacity and independence of the anti-corruption institution.

    Table 1. Solomon Islands: Selected Economic Indicators, 2019–2029

    Per capita GDP (2023): US$2200

           

    Population (2023): 768,690

           

    Quota: SDR 20.8 million

           
     

    2019

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

             

    Est.

    Proj.

    GROWTH AND PRICES

    (In percent change, unless otherwise indicated)

    Real GDP

    1.7

    -3.4

    2.6

    2.4

    2.7

    2.5

    2.8

    2.9

    2.9

    3.0

    3.0

    CPI (period average)

    2.2

    2.9

    0.2

    5.4

    5.1

    3.7

    3.8

    3.7

    3.4

    3.3

    3.3

    CPI (end of period)

    2.6

    -2.6

    4.6

    8.7

    4.3

    3.4

    3.9

    3.5

    3.3

    3.3

    3.3

    GDP deflator

    1.2

    -1.3

    -5.5

    2.0

    3.9

    1.3

    1.3

    1.3

    1.4

    1.4

    1.4

    Nominal GDP (in SI$ millions)

    13,234

    12,617

    12,228

    12,775

    13,911

    14,685

    15,492

    16,370

    17,311

    18,235

    19,217

    Nominal GDP (in US$ millions)

    1,619

    1,536

    1,523

    1,566

    1,661

    1,753

    1,850

    1,954

    2,067

    2,177

    2,294

    CENTRAL GOVERNMENT OPERATIONS

    (In percent of GDP)

    Total revenue and grants

    34.1

    37.9

    35.9

    38.3

    36.3

    32.7

    32.5

    32.6

    32.7

    32.8

    32.8

    Revenue

    25.8

    24.6

    24.8

    23.1

    22.9

    23.2

    23.0

    23.1

    23.2

    23.3

    23.3

    Grants

    8.2

    13.4

    11.1

    15.2

    13.4

    9.5

    9.5

    9.5

    9.5

    9.5

    9.5

    Total expenditure

    35.6

    40.4

    37.8

    40.8

    40.1

    35.8

    35.7

    35.8

    35.8

    35.8

    35.9

    Expense

    29.0

    31.9

    28.3

    31.4

    29.8

    27.9

    27.2

    27.3

    27.4

    27.4

    27.5

    Net acquisition of nonfinancial assets

    6.6

    8.5

    9.5

    9.3

    10.3

    7.9

    8.5

    8.5

    8.4

    8.4

    8.4

    Net lending (+) / Net borrowing (-)

    -1.5

    -2.4

    -1.9

    -2.5

    -3.8

    -3.1

    -3.3

    -3.2

    -3.1

    -3.1

    -3.1

    External

    0.0

    -1.4

    -1.1

    -0.1

    -2.9

    -2.3

    -1.8

    -1.9

    -1.9

    -1.8

    -1.8

    Domestic

    -1.5

    -1.0

    -0.7

    -2.4

    -0.9

    -0.8

    -1.5

    -1.3

    -1.2

    -1.2

    -1.3

    Central government debt 1/

    7.8

    12.8

    15.9

    15.5

    20.3

    22.3

    24.4

    26.2

    27.9

    29.5

    31.0

    Public domestic debt

    1.7

    2.8

    6.1

    5.9

    8.6

    8.9

    9.8

    10.6

    11.1

    11.7

    12.4

    Public external debt

    6.1

    10.0

    9.8

    9.6

    11.7

    13.4

    14.5

    15.6

    16.7

    17.7

    18.6

    MACROFINANCIAL

    (In percent change)

    Credit to private sector

    6.2

    0.3

    -0.4

    0.8

    4.7

    3.0

    3.0

    3.0

    3.0

    3.0

    3.0

    Broad money

    -3.1

    6.6

    1.9

    5.3

    6.1

    6.8

    5.5

    5.7

    5.8

    5.3

    5.4

    Reserve money

    -7.1

    23.0

    10.6

    4.0

    9.9

    6.0

    5.5

    5.7

    5.8

    5.3

    5.4

    BALANCE OF PAYMENTS

    (In percent of GDP, unless otherwise indicated)

    Current account balance

    -9.5

    -1.6

    -5.1

    -13.7

    -10.4

    -4.2

    -7.7

    -7.5

    -7.4

    -7.5

    -7.4

    Trade balance (goods and services)

    -10.0

    -8.5

    -13.4

    -22.3

    -19.8

    -11.6

    -15.3

    -15.3

    -15.6

    -16.1

    -16.5

    Exports

    36.4

    28.5

    26.9

    25.8

    32.6

    34.6

    33.2

    32.8

    32.1

    31.4

    30.7

    Imports

    46.4

    37.0

    40.4

    48.1

    52.3

    46.2

    48.6

    48.1

    47.7

    47.5

    47.2

    Gross Remittances

    1.1

    1.5

    2.1

    3.3

    3.7

    3.5

    3.6

    3.8

    3.9

    4.1

    4.3

    Capital and Financial Account

    7.3

    3.0

    6.7

    13.2

    13.6

    4.0

    6.9

    7.3

    7.5

    7.5

    7.5

    Foreign direct investment (+ = decrease)

    -1.8

    -0.4

    -1.5

    -2.6

    -4.3

    -0.9

    -2.3

    -2.6

    -2.7

    -2.8

    -2.9

    Overall balance (+ = increase)

    -2.1

    4.8

    2.5

    -2.0

    3.3

    -0.2

    -0.8

    -0.2

    0.1

    0.0

    0.1

    Gross official reserves (in US$ millions, end of period) 2/

    574.1

    660.6

    694.5

    655.2

    682.0

    679.1

    664.3

    661.0

    662.8

    663.2

    664.6

    (in months of next year’s imports of GNFS)

    12.1

    12.9

    11.1

    9.0

    10.1

    9.1

    8.5

    8.0

    7.7

    7.4

    7.0

                           

    EXCHANGE RATE (SI$/US$, end of period)

    8.2

    8.0

    8.1

    8.3

    8.5

    Real effective exchange rate (end of period, 2010 = 100)

    127.5

    129.9

    124.8

    132.3

    136.0

    Sources: Data provided by the authorities; and IMF staff estimates and projections.

    1/ Includes disbursements under the Rapid Credit Facility (RCF).

    2/ Includes SDR allocations made by the IMF to Solomon Islands in 2009 and in 2021.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pemba Sherpa

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

    MIL OSI Economics

  • MIL-OSI Europe: Minister Burke welcomes €23m in Shared Island Development Tourism funding

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    • The Government’s Shared Island initiative aims to harness the full potential of the Good Friday Agreement to enhance cooperation, connection and mutual understanding on the island and engage with all communities and traditions to build consensus around a shared future.
    • Fáilte Ireland, Tourism Northern Ireland and Tourism Ireland continue to build on the strong relationships already developed with the local authorities in both jurisdictions.

    Minister for Enterprise, Tourism and Employment, Peter Burke, today welcomed funding of up to €23m for three Shared Island Tourism Destination projects. 

    Carlingford Lough: A network of trailheads, trails and water access points will be delivered across the region; increasing connectivity between tourism assets and complemented by delivery of a Destination Experience Strategy to promote the region. The investment will harness the benefits of the Narrow Water Bridge as a lynchpin for sustainable tourism and recreation activity around the whole Carlingford Lough area.

    Cuilcagh Lakelands UNESCO Global Geopark: The trail network will be developed to link existing trails North and South of the border; enhancing and further linking the regional tourism offering at Cuilcagh and the wider cross-border UNESCO Global Geopark. Trail development will provide connectivity between the Marble Arch Caves, Cuilcagh Boardwalk and on to Cavan Burren Park and include interpretation, wayfinding and infrastructure, including a community-based interpretative centre at Glangevlin village.

    Sliabh Beagh: Extensive connected walking, cycling, equestrian cross-border trails around Sliabh Beagh Mountain will be developed along the border, with the inclusion of trailheads and gateways. Trail development will also include interpretation, wayfinding and other facility development.

    Minister Burke said:

    “I welcome the announcement of this significant funding, which will boost the all-island economy and benefit communities north and south of the border. These projects have the potential to deliver sustained economic, social and environmental benefits across counties in both jurisdictions.  Communities on either side of the border Ireland continue to collaborate in creating a place that they are proud to share with others, delivering a warm welcome and the promise of a memorable holiday.” 

    ENDS

    MIL OSI Europe News

  • MIL-OSI USA: Unemployment rate for people with a disability changes little, at 7.5%, in 2024

    Source: US Department of Labor

    For release 10:00 a.m. (ET) Tuesday, February 25, 2025                              USDL-25-0247
    
    Technical information:  (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps 
    Media contact:          (202) 691-5902  *  PressOffice@bls.gov
    
    
                     PERSONS WITH A DISABILITY: LABOR FORCE CHARACTERISTICS -- 2024
                     
                     
    In 2024, the employment-population ratio--the proportion of the population that is employed--
    was 22.7 percent among those with a disability, the U.S. Bureau of Labor Statistics reported 
    today. In contrast, the employment-population ratio for those without a disability was 65.5 
    percent. The employment-population ratio for people with a disability changed little from
    2023 to 2024, following a 1.2 percentage-point increase from 2022 to 2023. The employment-
    population ratio for those without a disability decreased by 0.3 percentage point in 2024. 
    The unemployment rate for people with a disability (7.5 percent) changed little in 2024, 
    while the rate for those without a disability increased by 0.3 percentage point over the 
    year to 3.8 percent.
    
    The data on people with a disability are collected as part of the Current Population Survey 
    (CPS), a monthly sample survey of about 60,000 households that provides statistics on 
    employment and unemployment in the United States. The collection of data on people with a 
    disability is sponsored by the U.S. Department of Labor's Office of Disability Employment 
    Policy. For more information, see the Technical Note in this news release.
    
    Highlights from the 2024 data:
    
     --Half of all people with a disability were age 65 and over, nearly three times larger than 
       the share for those with no disability. (See table 1.)
    
     --For all ages, the employment-population ratio was much lower for people with a disability 
       than for those with no disability. (See table 1.)
    
     --Unemployment rates were much higher for people with a disability than for those with no 
       disability across all educational attainment groups. (See table 1.)
    
     --Workers with a disability were nearly twice as likely to work part time as workers with 
       no disability. (See table 2.)
    
     --Workers with a disability were more likely to be self-employed than were workers with no 
       disability. (See table 4.)
    
    Demographic characteristics
    
    People with a disability accounted for about 13 percent of the population in 2024. Those
    with a disability tend to be older than people with no disability, reflecting the increased 
    incidence of disability with age. In 2024, half of those with a disability were age 65 and 
    over, compared with about 18 percent of those with no disability. Overall, women were more 
    likely to have a disability than were men, partly reflecting the greater life expectancy of 
    women. Among the major race and ethnicity groups, people who are White (13.0 percent) and
    Black or African American (13.1 percent) had a higher prevalence of disability than those 
    who are Asian (6.8 percent) and Hispanic or Latino (8.7 percent). (See table 1.)
    
    Employment
    
    In 2024, the employment-population ratio for people with a disability changed little at 
    22.7 percent. The ratio for those with no disability decreased by 0.3 percentage point to 
    65.5 percent. The lower ratio among people with a disability reflects, in part, the older 
    age profile of people with a disability; people age 65 and over are less likely to be 
    employed regardless of disability status. However, across all age groups, people with a 
    disability were much less likely to be employed than those with no disability. 
    (See tables A and 1.)
    
    Among people with a disability ages 16 to 64, the employment-population ratio, at 37.4 
    percent in 2024, changed little over the year. Similarly, the ratio for people with a 
    disability age 65 and over was little changed at 8.1 percent. (See table A.)
    
    People with a disability were less likely to have completed a bachelor's degree or higher 
    than were those with no disability. In 2024, about 23 percent of all people with a 
    disability had completed a bachelor's degree or higher compared with about 42 percent of 
    those with no disability. Among both groups, those who had attained higher levels of 
    education were more likely to be employed than were those with less education. For all 
    levels of education, people with a disability were much less likely to be employed than 
    their counterparts with no disability. (Educational attainment data are presented for 
    those age 25 and over.) (See table 1.)
    
    Workers with a disability were more likely to be employed part time than were those with
    no disability. About 31 percent of those with a disability usually worked part time compared 
    with about 17 percent of workers without a disability. About 4 percent of workers with a 
    disability worked part time for economic reasons. These individuals would have preferred 
    full-time employment but were working part time because their hours had been reduced or 
    they were unable to find full-time jobs. (See table 2.)
    
    In 2024, people with a disability were more likely to work in sales and office occupations 
    than were those with no disability (20.8 percent compared with 18.4 percent, respectively). 
    Workers with a disability were also more likely than those with no disability to work in 
    service occupations (19.0 percent compared with 16.3 percent) and in production, 
    transportation, and material moving occupations (14.2 percent compared with 12.2 percent).
    People with a disability were much less likely to work in management, professional, and 
    related occupations than were their counterparts with no disability (37.9 percent compared 
    with 44.1 percent). Workers with a disability were also somewhat less likely to work in 
    natural resources, construction, and maintenance occupations (8.1 percent compared with
    9.0 percent). (See table 3.)
    
    A larger share of people with a disability were self-employed than were those with no
    disability in 2024 (9.2 percent versus 6.0 percent). Those with a disability were slightly
    more likely to be employed by the federal government than were their counterparts with no 
    disability (3.3 percent and 2.6 percent), while the proportions of people employed by state
    and local governments were about the same regardless of disability status. In contrast, 
    people with a disability were less likely to be employed as private wage and salary workers
    (76.6 percent) than were those with no disability (80.5 percent). (See table 4.)
    
    Unemployment
    
    The unemployment rate for people with a disability was about twice that of those with no 
    disability in 2024. (Unemployed people are those who did not have a job, were available for 
    work, and were actively looking for a job in the 4 weeks preceding the survey.) The 
    unemployment rate for people with a disability changed little in 2024 at 7.5 percent, while 
    the rate for people without a disability increased by 0.3 percentage point to 3.8 percent.
    (See tables A and 1.)
    
    Among people with a disability, the unemployment rates were the same for men and women in 
    2024 (7.5 percent). These rates were little different from a year earlier. Among the major
    race and ethnicity groups, the jobless rates for people who are White, Black or African 
    American, Asian, and Hispanic or Latino showed little change over the year. As is the case
    among people without a disability, the jobless rates for those with a disability were higher
    among people who are Black or African American (10.7 percent) and Hispanic or Latino 
    (9.4 percent) than among people who are White (6.9 percent) and Asian (6.3 percent). 
    (See table 1.)  
    
    Not in the labor force
    
    People who are neither employed nor unemployed are considered not in the labor force. A 
    large proportion of people with a disability--about 75 percent--were not in the labor force
    in 2024, compared with about 32 percent of those with no disability. In part, this too 
    reflects the older age profile of people with a disability; people age 65 and over were 
    much less likely to participate in the labor force than were those in younger age groups. 
    Across all age groups, however, people with a disability were less likely to participate 
    in the labor force than were those with no disability. (See table 1.)
    
    For both people with and without a disability, the vast majority of those who were not in
    the labor force did not want a job. In 2024, about 3 percent of those with a disability
    wanted a job, lower than about 6 percent of those without a disability. Among people who 
    wanted a job, a subset is classified as marginally attached to the labor force. These 
    individuals wanted and were available for work and had looked for a job sometime in 
    the prior 12 months but had not looked for work in the 4 weeks preceding the survey. 
    (People marginally attached to the labor force include discouraged workers.) About 1 
    percent of people with a disability were marginally attached to the labor force in 2024. 
    (See table 5.)
    
    
    
    
    Table A. Employment status of the civilian noninstitutional population by disability status and age, 2023 and 2024 annual averages [Numbers in thousands]
    Characteristic 2023 2024
    Total, 16 years
    and over
    16 to 64
    years
    65 years
    and over
    Total, 16 years
    and over
    16 to 64
    years
    65 years
    and over

    PEOPLE WITH A DISABILITY

    Civilian noninstitutional population

    33,501 16,685 16,816 33,945 16,915 17,030

    Civilian labor force

    8,112 6,715 1,397 8,328 6,886 1,441

    Participation rate

    24.2 40.2 8.3 24.5 40.7 8.5

    Employed

    7,528 6,196 1,331 7,701 6,326 1,375

    Employment-population ratio

    22.5 37.1 7.9 22.7 37.4 8.1

    Unemployed

    585 519 66 627 561 66

    Unemployment rate

    7.2 7.7 4.7 7.5 8.1 4.6

    Not in labor force

    25,389 9,970 15,419 25,618 10,029 15,589

    PEOPLE WITH NO DISABILITY

    Civilian noninstitutional population

    233,441 191,998 41,443 234,626 191,920 42,706

    Civilian labor force

    159,004 149,206 9,798 159,779 149,580 10,198

    Participation rate

    68.1 77.7 23.6 68.1 77.9 23.9

    Employed

    153,509 143,961 9,548 153,645 143,744 9,900

    Employment-population ratio

    65.8 75.0 23.0 65.5 74.9 23.2

    Unemployed

    5,495 5,245 250 6,134 5,836 298

    Unemployment rate

    3.5 3.5 2.6 3.8 3.9 2.9

    Not in labor force

    74,437 42,792 31,645 74,847 42,340 32,507

    NOTE: Updated population controls are introduced annually with the release of January data.

    Technical Note
    
       The estimates in this release are based on annual average data obtained from  
    the Current Population Survey (CPS). The CPS, which is conducted by the U.S. 
    Census Bureau for the Bureau of Labor Statistics (BLS), is a monthly survey of 
    about 60,000 eligible households that provides information on the labor force 
    status, demographics, and other characteristics of the nation's civilian
    noninstitutional population age 16 and over.
       
       Questions were added to the CPS in June 2008 to identify people with a 
    disability in the civilian noninstitutional population age 16 and over. The 
    addition of these questions allowed the BLS to begin releasing monthly labor 
    force data from the CPS for people with a disability. The collection of these 
    data is sponsored by the Department of Labor's Office of Disability Employment 
    Policy.
       
       If you are deaf, hard of hearing, or have a speech disability, please dial
    7-1-1 to access telecommunications relay services.
    
    Reliability of the estimates
    
       Statistics based on the CPS are subject to both sampling and nonsampling 
    error. When a sample, rather than the entire population, is surveyed, there is 
    a chance that the sample estimates may differ from the true population values 
    they represent. The component of this difference that occurs because samples 
    differ by chance is known as sampling error, and its variability is measured 
    by the standard error of the estimate. There is about a 90-percent chance, or
    level of confidence, that an estimate based on a sample will differ by no more 
    than 1.6 standard errors from the true population value because of sampling 
    error. BLS analyses are generally conducted at the 90-percent level of 
    confidence.
    
       The CPS data also are affected by nonsampling error. Nonsampling error can 
    occur for many reasons, including the failure to sample a segment of the 
    population, inability to obtain information for all respondents in the sample, 
    inability or unwillingness of respondents to provide correct information, and
    errors made in the collection or processing of the data.
    
       Additional information about the reliability of data from the CPS and 
    estimating standard errors is available at 
    www.bls.gov/cps/documentation.htm#reliability.
    
       CPS estimates are controlled to population totals that are available by 
    age, sex, race, and Hispanic ethnicity. These controls are developed by the 
    Census Bureau and are based on complete population counts obtained in the 
    decennial census. In the years between decennial censuses, they incorporate 
    the latest information about population change (births, deaths, and net
    international migration). As part of its annual update of population
    estimates, the Census Bureau introduces adjustments to the total population
    controls. The updated controls typically have a negligible impact on 
    unemployment rates and other ratios. The estimates of the population of 
    people with a disability are not controlled to independent population totals 
    of people with a disability because such data are not available. Without 
    independent population totals, sample-based estimates are more apt to vary 
    from one time period to the next. Information about population controls is 
    available at www.bls.gov/cps/documentation.htm#pop.
    
    Disability questions and concepts
    
       The CPS uses a set of six questions to identify people with disabilities. 
    In the CPS, people are classified as having a disability if there is a response 
    of "yes" to any of these questions. The disability questions appear in the CPS 
    in the following format:
    
       This month we want to learn about people who have physical, mental, or emotional
    conditions that cause serious difficulty with their daily activities. Please answer
    for household members who are 15 years old or over.
    
       --Is anyone deaf or does anyone have serious difficulty 
         hearing?
    
       --Is anyone blind or does anyone have serious difficulty
         seeing even when wearing glasses?
    
       --Because of a physical, mental, or emotional condition, does
         anyone have serious difficulty concentrating, remembering, or
         making decisions?
    
       --Does anyone have serious difficulty walking or climbing
         stairs?
    
       --Does anyone have difficulty dressing or bathing?
    
       --Because of a physical, mental, or emotional condition, does
         anyone have difficulty doing errands alone such as visiting a
         doctor's office or shopping?
    
       The CPS questions for identifying individuals with disabilities are only 
    asked of household members who are age 15 and over. Each of the questions ask 
    the respondent whether anyone in the household has the condition described, and 
    if the respondent replies "yes," they are then asked to identify everyone in 
    the household who has the condition. Labor force measures from the CPS are 
    tabulated for people age 16 and over. More information on the disability 
    questions and the limitations of the CPS disability data is available on the 
    BLS website at www.bls.gov/cps/cpsdisability_faq.htm.
    
    Other definitions
    
       Other definitions used in this release are described briefly below. 
    Additional information on the concepts and methodology of the CPS is available 
    at www.bls.gov/cps/documentation.htm.
    
       Employed.  Employed people are all those who, during the survey reference 
    week, (a) did any work at all as paid employees; (b) worked in their own 
    business, profession, or on their own farm; or (c) worked 15 hours or more as 
    unpaid workers in a family member's business.  People who were temporarily 
    absent from their jobs because of illness, bad weather, vacation, labor 
    dispute, or another reason also are counted as employed.
    
       Unemployed.  Unemployed people are those who had no employment during the 
    reference week, were available for work at that time, and had made specific 
    efforts to find employment sometime during the 4-week period ending with the 
    reference week. People who were waiting to be recalled to a job from which they 
    had been laid off need not have been looking for work to be classified as 
    unemployed.
    
       Civilian labor force.  The civilian labor force comprises all people
    classified as employed or unemployed.
    
       Unemployment rate.  The unemployment rate is the number unemployed as a 
    percent of the labor force.
    
       Not in the labor force.  People not in the labor force include all those who 
    are not classified as employed or unemployed. Information is collected on their 
    desire for and availability to take a job at the time of the CPS interview, job 
    search activity in the prior year, and reason for not looking in the 4-week 
    period ending with the reference week. This group includes individuals marginally 
    attached to the labor force, defined as people not in the labor force who want 
    and are available for a job and who have looked for work sometime in the past 12 
    months (or since the end of their last job if they held one within the past 12 
    months). They are not counted as unemployed because they had not actively searched 
    for work in the prior 4 weeks. Within the marginally attached group are discouraged 
    workers--people who are not currently looking for work because they believe there 
    are no jobs available or there are none for which they would qualify. The other 
    people marginally attached to the labor force group includes people who want a
    job but had not looked for work in the past 4 weeks for reasons such as family 
    responsibilities or transportation problems.
    
       Part time for economic reasons.  People classified as at work part time for 
    economic reasons, a measure sometimes referred to as involuntary part time, are 
    those who gave an economic reason for working 1 to 34 hours during the reference 
    week. Economic reasons include slack work or unfavorable business conditions, 
    inability to find full-time work, and seasonal declines in demand. Those who 
    usually work part time must also indicate that they want and are available for 
    full-time work to be classified as part time for economic reasons.
    
       Occupation, industry, and class of worker.  The occupation, industry, and 
    class of worker classifications for the employed relate to the job held in the 
    survey reference week. People with two or more jobs are classified in the job 
    at which they worked the greatest number of hours. People are classified using 
    the 2018 Census occupational and 2017 Census industry classification systems. 
    The class-of-worker breakdown assigns workers to the following categories: 
    private and government wage and salary workers, self-employed workers, and 
    unpaid family workers. Wage and salary workers receive wages, salary, 
    commissions, tips, or pay in kind from a private employer or from a government 
    unit. Self-employed people are those who work for profit or fees in their own 
    business, profession, trade, or farm. Only the unincorporated self-employed are 
    included in the self-employed category. Self-employed people who respond that 
    their businesses are incorporated are included among wage and salary workers. 
    Unpaid family workers are people working without pay for 15 hours a week or 
    more on a farm or in a business operated by a family member in their household.
    
    
    
    
    Table 1. Employment status of the civilian noninstitutional population by disability status and selected characteristics, 2024 annual averages [Numbers in thousands]
    Characteristic Civilian
    noninsti-
    tutional
    population
    Civilian labor force Not in
    labor
    force
    Total Participation
    rate
    Employed Unemployed
    Total Percent of
    population
    Total Rate

    TOTAL

    Total, 16 years and over

    268,571 168,106 62.6 161,346 60.1 6,761 4.0 100,465

    Men

    130,939 88,974 68.0 85,313 65.2 3,661 4.1 41,965

    Women

    137,633 79,132 57.5 76,033 55.2 3,100 3.9 58,500

    PEOPLE WITH A DISABILITY

    Total, 16 years and over

    33,945 8,328 24.5 7,701 22.7 627 7.5 25,618

    Men

    15,923 4,308 27.1 3,984 25.0 324 7.5 11,615

    Women

    18,023 4,020 22.3 3,717 20.6 303 7.5 14,003

    Age

    16 to 64 years

    16,915 6,886 40.7 6,326 37.4 561 8.1 10,029

    16 to 19 years

    876 242 27.6 184 21.0 58 23.9 634

    20 to 24 years

    1,271 596 46.9 517 40.6 79 13.3 675

    25 to 34 years

    2,625 1,522 58.0 1,393 53.1 129 8.5 1,103

    35 to 44 years

    2,689 1,402 52.1 1,310 48.7 92 6.6 1,287

    45 to 54 years

    3,417 1,405 41.1 1,301 38.1 104 7.4 2,012

    55 to 64 years

    6,036 1,719 28.5 1,621 26.8 98 5.7 4,317

    65 years and over

    17,030 1,441 8.5 1,375 8.1 66 4.6 15,589

    Race and Hispanic or Latino ethnicity

    White

    26,629 6,584 24.7 6,129 23.0 455 6.9 20,045

    Black or African American

    4,593 1,045 22.8 934 20.3 112 10.7 3,548

    Asian

    1,219 252 20.7 236 19.4 16 6.3 967

    Hispanic or Latino ethnicity

    4,277 1,188 27.8 1,076 25.2 111 9.4 3,089

    Educational attainment

    Total, 25 years and over

    31,798 7,490 23.6 7,000 22.0 490 6.5 24,309

    Less than a high school diploma

    4,427 556 12.6 499 11.3 57 10.2 3,871

    High school graduates, no college

    11,075 2,081 18.8 1,912 17.3 169 8.1 8,993

    Some college or associate degree

    8,838 2,379 26.9 2,224 25.2 155 6.5 6,459

    Bachelor’s degree and higher

    7,459 2,474 33.2 2,365 31.7 109 4.4 4,985

    PEOPLE WITH NO DISABILITY

    Total, 16 years and over

    234,626 159,779 68.1 153,645 65.5 6,134 3.8 74,847

    Men

    115,016 84,666 73.6 81,329 70.7 3,337 3.9 30,350

    Women

    119,610 75,113 62.8 72,316 60.5 2,797 3.7 44,497

    Age

    16 to 64 years

    191,920 149,580 77.9 143,744 74.9 5,836 3.9 42,340

    16 to 19 years

    16,709 6,242 37.4 5,477 32.8 765 12.3 10,467

    20 to 24 years

    20,116 14,697 73.1 13,655 67.9 1,042 7.1 5,419

    25 to 34 years

    41,802 35,660 85.3 34,202 81.8 1,457 4.1 6,142

    35 to 44 years

    41,491 36,001 86.8 34,887 84.1 1,114 3.1 5,490

    45 to 54 years

    36,617 31,532 86.1 30,738 83.9 794 2.5 5,085

    55 to 64 years

    35,185 25,448 72.3 24,785 70.4 663 2.6 9,737

    65 years and over

    42,706 10,198 23.9 9,900 23.2 298 2.9 32,507

    Race and Hispanic or Latino ethnicity

    White

    178,457 121,048 67.8 116,904 65.5 4,144 3.4 57,409

    Black or African American

    30,410 21,001 69.1 19,794 65.1 1,207 5.7 9,409

    Asian

    16,756 11,429 68.2 11,034 65.9 394 3.5 5,327

    Hispanic or Latino ethnicity

    44,645 31,702 71.0 30,151 67.5 1,551 4.9 12,942

    Educational attainment

    Total, 25 years and over

    197,801 138,839 70.2 134,512 68.0 4,326 3.1 58,962

    Less than a high school diploma

    14,868 8,597 57.8 8,090 54.4 507 5.9 6,271

    High school graduates, no college

    52,631 34,175 64.9 32,813 62.3 1,362 4.0 18,455

    Some college or associate degree

    48,149 33,460 69.5 32,403 67.3 1,057 3.2 14,689

    Bachelor’s degree and higher

    82,153 62,607 76.2 61,206 74.5 1,400 2.2 19,547

    NOTE: Estimates for the above race groups (White, Black or African American, and Asian) do not sum to totals because data are not presented for all races. People whose ethnicity is identified as Hispanic or Latino may be of any race.

    Table 2. Employed full- and part-time workers by disability status and age, 2024 annual averages [Numbers in thousands]
    Disability status and age Employed At work
    part time for
    economic
    reasons
    Total Usually
    work
    full time
    Usually
    work
    part time

    TOTAL

    16 years and over

    161,346 133,361 27,985 4,467

    16 to 64 years

    150,070 126,401 23,669 4,267

    65 years and over

    11,276 6,960 4,316 200

    People with a disability

    16 years and over

    7,701 5,322 2,379 303

    16 to 64 years

    6,326 4,641 1,684 275

    65 years and over

    1,375 680 695 27

    People with no disability

    16 years and over

    153,645 128,039 25,605 4,164

    16 to 64 years

    143,744 121,760 21,985 3,991

    65 years and over

    9,900 6,280 3,621 172

    NOTE: Full time refers to people who usually work 35 hours or more per week; part time refers to people who usually work less than 35 hours per week.

    Table 3. Employed people by disability status, occupation, and sex, 2024 annual averages [Percent distribution]
    Occupation People with a disability People with no disability
    Total Men Women Total Men Women

    Total employed (in thousands)

    7,701 3,984 3,717 153,645 81,329 72,316

    Occupation as a percent of total employed

    Total employed

    100.0 100.0 100.0 100.0 100.0 100.0

    Management, professional, and related occupations

    37.9 34.7 41.3 44.1 39.8 49.1

    Management, business, and financial operations occupations

    16.6 17.3 16.0 19.1 19.6 18.5

    Management occupations

    11.5 12.8 10.2 12.9 14.1 11.4

    Business and financial operations occupations

    5.1 4.4 5.8 6.2 5.4 7.1

    Professional and related occupations

    21.3 17.5 25.4 25.1 20.2 30.6

    Computer and mathematical occupations

    3.1 4.2 1.9 4.0 5.6 2.2

    Architecture and engineering occupations

    1.8 2.7 0.8 2.2 3.5 0.8

    Life, physical, and social science occupations

    0.8 0.8 0.9 1.2 1.1 1.3

    Community and social service occupations

    2.0 1.5 2.6 1.8 1.0 2.7

    Legal occupations

    1.0 0.9 1.2 1.1 1.0 1.3

    Education, training, and library occupations

    5.6 3.1 8.4 6.0 3.0 9.3

    Arts, design, entertainment, sports, and media occupations

    2.6 2.4 2.8 2.1 2.0 2.3

    Healthcare practitioners and technical occupations

    4.3 1.9 6.8 6.6 3.0 10.6

    Service occupations

    19.0 16.0 22.2 16.3 13.0 19.9

    Healthcare support occupations

    4.3 1.3 7.5 3.3 1.0 6.0

    Protective service occupations

    1.6 2.4 0.8 1.9 2.7 1.0

    Food preparation and serving related occupations

    5.4 4.7 6.2 5.0 4.3 5.7

    Building and grounds cleaning and maintenance occupations

    5.0 6.4 3.5 3.5 3.9 3.1

    Personal care and service occupations

    2.6 1.2 4.2 2.5 1.1 4.0

    Sales and office occupations

    20.8 14.7 27.4 18.4 13.8 23.6

    Sales and related occupations

    9.6 8.6 10.8 8.7 8.6 8.8

    Office and administrative support occupations

    11.2 6.1 16.6 9.7 5.2 14.8

    Natural resources, construction, and maintenance occupations

    8.1 14.9 0.9 9.0 15.9 1.1

    Farming, fishing, and forestry occupations

    0.5 0.6 0.3 0.6 0.8 0.4

    Construction and extraction occupations

    4.4 8.1 0.4 5.3 9.6 0.5

    Installation, maintenance, and repair occupations

    3.3 6.1 0.3 3.0 5.5 0.3

    Production, transportation, and material moving occupations

    14.2 19.8 8.2 12.2 17.5 6.3

    Production occupations

    5.5 7.3 3.5 4.9 6.6 3.0

    Transportation and material moving occupations

    8.7 12.5 4.7 7.3 10.9 3.3
    Table 4. Employed people by disability status, industry, class of worker, and sex, 2024 annual averages [Percent distribution]
    Industry and class of worker People with a disability People with no disability
    Total Men Women Total Men Women

    Total employed (in thousands)

    7,701 3,984 3,717 153,645 81,329 72,316

    Industry as a percent of total employed

    Total employed

    100.0 100.0 100.0 100.0 100.0 100.0

    Agriculture and related industries

    2.1 3.0 1.2 1.4 1.8 0.8

    Nonagricultural industries

    97.9 97.0 98.8 98.6 98.2 99.2

    Mining, quarrying, and oil and gas extraction

    0.3 0.5 0.1 0.4 0.6 0.1

    Construction

    6.3 10.9 1.5 7.5 12.6 1.8

    Manufacturing

    8.5 11.5 5.3 9.4 12.5 5.8

    Wholesale trade

    1.6 2.0 1.1 2.0 2.6 1.3

    Retail trade

    13.1 12.8 13.5 10.0 9.9 10.0

    Transportation and utilities

    5.9 7.8 3.8 6.1 8.7 3.1

    Information

    1.7 1.8 1.6 1.8 2.0 1.5

    Financial activities

    5.8 5.1 6.6 6.8 6.4 7.3

    Professional and business services

    12.0 13.5 10.5 13.3 14.5 11.9

    Education and health services

    21.8 11.3 33.0 23.1 11.1 36.5

    Leisure and hospitality

    9.5 8.9 10.0 8.7 8.0 9.5

    Other services

    6.0 5.7 6.3 4.7 4.1 5.4

    Public administration

    5.4 5.3 5.5 5.0 5.1 4.9

    Class of worker as a percent of total employed

    Total employed

    100.0 100.0 100.0 100.0 100.0 100.0

    Wage and salary workers

    90.7 89.5 92.0 94.0 93.2 94.8

    Private industries

    76.6 77.4 75.9 80.5 82.2 78.5

    Government

    14.1 12.2 16.1 13.5 11.0 16.3

    Federal

    3.3 3.6 2.9 2.6 2.7 2.4

    State

    5.0 3.4 6.7 4.7 3.5 6.0

    Local

    5.8 5.2 6.4 6.3 4.8 7.9

    Self-employed workers, unincorporated

    9.2 10.4 7.9 6.0 6.8 5.1
    Table 5. People not in the labor force by disability status, age, and sex, 2024 annual averages [Numbers in thousands]
    Category Total,
    16 years and
    over
    16 to 64 years Total,
    65 years and
    over
    Total Men Women

    PEOPLE WITH A DISABILITY

    Total not in the labor force

    25,618 10,029 4,876 5,152 15,589

    People who currently want a job

    798 542 253 289 256

    Marginally attached to the labor force

    203 159 77 83 43

    Discouraged workers

    45 31 18 13 14

    Other people marginally attached to the labor force

    157 128 59 69 29

    PEOPLE WITH NO DISABILITY

    Total not in the labor force

    74,847 42,340 16,227 26,113 32,507

    People who currently want a job

    4,792 4,170 2,009 2,161 622

    Marginally attached to the labor force

    1,355 1,239 676 563 116

    Discouraged workers

    363 332 202 130 31

    Other people marginally attached to the labor force

    992 907 475 433 85

    MIL OSI USA News

  • MIL-OSI Security: Mexican Drug Cartel Leader Extradited to Georgia to Face Federal Charges

    Source: Office of United States Attorneys

    ATLANTA – Omar Cuenca-Marino, 41, of Guerrero, Mexico, has been arraigned before Chief United States Magistrate Judge Russell G. Vineyard on federal charges of conspiracy to possess with the intent to distribute, and unlawful import of, methamphetamine, cocaine, and heroin into the United States, and conspiracy to commit money laundering.  Cuenca-Marino, who was the alleged leader of the Los Rojos Mexican Drug Cartel, was indicted by a federal grand jury on December 21, 2016.  

    “Robust law enforcement partnerships, tenacious investigators, and a resilient determination to eliminate cartels that import deadly drugs into our communities culminated in the charges and recent extradition of this alleged drug cartel leader,” said Acting United States Attorney Richard S. Moultrie, Jr. “This prosecution sends a strong message to the cartels and their leadership, no matter where they reside: you will face justice.”

    “The arrest and extradition of Omar Cuenca-Marino, the alleged Los Rojos cartel leader, marks a significant success for the ongoing U.S. efforts to dismantle drug trafficking cartels and secure our borders,” said Steven N. Schrank, Special Agent in Charge of HSI Atlanta, which covers Georgia and Alabama. “As part of our commitment to combating the opioid crisis and transnational crime, we are leveraging every available resource to disrupt cross border criminal operations. This case sends a clear message that we, alongside our law enforcement partners, will not tolerate those who seek to profit from the distribution of dangerous narcotics.”

    “The success of this investigation demonstrates DEA will use all of its resources to destroy drug distribution networks that are endangering our communities,” said Jae W. Chung, Acting Special Agent in Charge of the DEA Atlanta Division.

    “Drug cartels have caused the death of many people in the United States and Mexico through violence and the distribution of illegal drugs,” said Special Agent in Charge Demetrius Hardeman, IRS Criminal Investigation, Atlanta Field Office. “Once identified by the Organized Crime Drug Enforcement Task Forces, IRS Criminal Investigation special agents investigate these cartels finances and their involvement with narcotics to help bring them down.”

    According to Acting U.S. Attorney Moultrie, the charges, and other information presented in court: An investigation by law enforcement authorities identified a drug cartel based in Mexico that, between approximately 2013 and 2016, was responsible for importing large, distribution quantities of heroin, methamphetamine, and cocaine from Mexico into the United States.  The investigation identified Cuenca-Marino as the alleged Mexico-based leader of the cartel who oversaw the preparation of thousands of kilograms of cocaine, methamphetamine, and heroin in Mexico and arranged to have the drugs smuggled into the United States, using buses and tractor-trailers.  In addition, Cuenca-Marino allegedly directed the collection of millions of dollars of drug proceeds for transport from the United States back to Mexico.

    For instance:

    • On October 11, 2013, a law enforcement operation in Vinings and Hiram, Georgia led to the seizure of approximately 75 kilograms of methamphetamine, 23 kilograms of heroin, and 47 kilograms of cocaine.  Cuenca-Marino allegedly directed the smuggling of these drugs into the United States for distribution in the Atlanta-metro area.
    • On November 20, 2015, law enforcement seized 76 packages of cocaine from a vehicle in a parking lot in Duluth, Georgia.  The investigation revealed that Cuenca-Marino had relayed the phone number of the Atlanta-based trafficker who was about to take possession of the drugs.
    • On February 9, 2016, law enforcement stopped a vehicle traveling on Interstate 44 in Phelps County, Missouri and found $425,900 in drug proceeds.  The driver, who was enroute to Mexico, allegedly contacted Cuenca-Marino the following day to report that the vehicle had been in an “accident.”

    Members of the public are reminded that the indictment only contains charges.  The defendant is presumed innocent of the charges, and it will be the government’s burden to prove the defendant’s guilt beyond a reasonable doubt at trial.

    The investigation and prosecution of this case is led by the U.S. Immigration and Customs Enforcement’s Homeland Security Investigations, Drug Enforcement Administration, and Internal Revenue Service Criminal Investigation, with valuable assistance from the U.S. Marshals Service, the Cobb County Police Department, Cobb County Sheriff’s Office, Marietta Police Department, Powder Springs Police Department, Henry County Police Department, Clayton County Sheriff’s Office, Georgia Bureau of Investigation, DeKalb County Police Department, Alabama Drug Task Force, Newnan Police Department, Conyers Police Department, Gwinnett County Judicial Task Force, United States Customs and Border Protection, and the Georgia State Patrol.

    Assistant U.S. Attorney Michael Herskowitz is prosecuting the case.  Former Assistant U.S. Attorneys Nicholas Hartigan and Michael J. Brown, as well as the U.S. Department of Justice, Criminal Division’s Office of International Affairs and Office of Enforcement Operations, provided valuable assistance in the investigation. Also, the Department of Justice’s Office of International Affairs coordinated with law enforcement partners in Mexico to secure the arrest and extradition Cuenca-Marino.

    This prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) Strike Force Initiative, which provides for the establishment of permanent multi-agency task force teams that work side-by-side in the same location. This co-located model enables agents from different agencies to collaborate on intelligence-driven, multi-jurisdictional operations to eliminate the most significant drug traffickers, money launderers, gangs, and transnational criminal organizations.

    The specific mission of the David G. Wilhelm Atlanta OCDETF Strike Force (Atlanta Strike Force) is to eliminate transnational organized crime syndicates and major drug trafficking and money laundering organizations in the Atlanta metropolitan area and the Northern District of Georgia. To accomplish this mission, the Atlanta Strike Force will target these organizations’ leaders, focusing on targets designated as Consolidated Priority Organization Targets, Regional Priority Organization Targets, and their associates.  The Atlanta Strike Force is comprised of agents and officers from ATF, DEA, FBI, HSI, USMS, USPIS, and IRS, as well as numerous state and local agencies; and the prosecution is being led by the Office of the United States Attorney for the Northern District of Georgia.

    For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6280.  The Internet address for the U.S. Attorney’s Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.

    MIL Security OSI

  • MIL-OSI: EXL launches EXLerate.AI platform to drive accelerated AI business benefits at scale for enterprises

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 25, 2025 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a leading data and AI company, announced EXLerate.AI, its agentic AI platform designed to help enterprises reimagine workflows with the ability to seamlessly integrate EXL and third-party AI agents into their business operations. The new platform accelerates progress on the path to greater efficiency, enhanced customer experience, improved accuracy and increased scalability across business operations, resulting in a better return on investment from AI.

    EXLerate.AI is an open, cloud-agnostic, and modular orchestration platform, allowing for fast implementation in all client environments. It includes more than 10 industry-specific EXL-built AI agents already in use across insurance, healthcare, retail, utilities and financial services. Clients benefit from EXL’s deep data and domain knowledge, data models and knowledge graphs and retain the flexibility to incorporate third party or internal AI agents, as well as current digital systems. Out-of-the-box capabilities improve the effectiveness of processes such as claims adjudication, commercial underwriting, payment servicing, customer service, internal audit, energy billing, accounts payable and legacy code migration.

    The biggest challenge enterprises are facing when it comes to implementing AI is integrating it across workflows seamlessly. By providing an orchestration solution with embedded high value AI agents, clients can now scale AI across their businesses in a hybrid environment.

    “Our teams have spent more than two years working with partners and clients to enhance our AI solutions platform to include our proprietary LLMs, AI agents, knowledge graphs and data models to help businesses harness AI and redesign workflows without getting bogged down by technical complexities,” said Anand “Andy” Logani, EXL’s chief digital and AI officer. “We invested in EXLerate.AI with three core principles in mind: a strong data and domain foundation, flexibility for rapid innovation and the ability to integrate AI seamlessly into enterprise operations.”

    Unlike most AI solutions, which perform a single task, EXLerate.AI orchestrates multiple AI models, alongside human expertise and other AI-powered analytics. EXL will continue to innovate at a rapid pace and invest in the development of new AI solutions across key functions in insurance, healthcare, banking and capital markets, and other industries.

    Key capabilities of EXLerate.AI include:

    • AI Agents and Accelerators: The platform supports more than 100 accelerators designed to enhance automation and efficiency at speed and scale. EXLerate.AI also incorporates a growing library of domain-specific AI agents that can dynamically interact with enterprise systems, streamlining processes, enhancing decision making and improving customer experiences.
    • Domain Specific Large Language Models (LLMs): EXLerate.AI includes two newly developed, proprietary LLMs for health and finance. These specialized AI models are trained on domain-specific data, building on the EXL Insurance LLM that was introduced in 2024 to support critical claims and underwriting tasks. With 25 years of domain expertise and proprietary, industry-specific labeled data, EXL’s LLMs deliver unmatched accuracy, efficiency, and compliance, outperforming generic models.
    • Open Architecture Platform: Building on EXL’s deep data management and domain-specific knowledge, EXLerate.AI offers an open architecture platform, ensuring clients have flexibility and are not locked into a single platform. The platform is fully compatible with existing enterprise IT systems and is pre-integrated with technology from industry leaders that are important to our clients, including, NVIDIA, AWS, Google, Microsoft, ServiceNow and Salesforce.

    Learn more about EXLerate.AI at EXL’s AI in Action event on March 5, 2025 at https://www.exlservice.com/ai-in-action-driving-the-shift-to-scalable-AI.

    About EXL

    EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 57,000 employees spanning six continents. For more information, visit www.exlservice.com.

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

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

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

    The MIL Network

  • MIL-OSI: Penns Woods Bancorp, Inc. Announces Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    WILLIAMSPORT, Pa., Feb. 25, 2025 (GLOBE NEWSWIRE) — Richard A. Grafmyre CFP®, Chief Executive Officer of Penns Woods Bancorp, Inc., (NASDAQ:PWOD) has announced that the Company’s Board of Directors declared a first quarter 2025 cash dividend of $0.32 per share.

    The dividend is payable March 25, 2025 to shareholders of record March 11, 2025.

    About Penns Woods Bancorp, Inc.
    Penns Woods Bancorp, Inc. is the bank holding company for Jersey Shore State Bank and Luzerne Bank. The banks serve customers in North Central and North Eastern Pennsylvania through their retail banking, commercial banking, mortgage services and financial services divisions. Penns Woods Bancorp, Inc. stock is listed on the NASDAQ National Market under the symbol PWOD.

    Previous press releases and additional information can be obtained from the company’s website at www.pwod.com.

    Contact: Richard A. Grafmyre, Chief Executive Officer
    300 Market Street, Williamsport, PA, 17701
    (570) 322-1111
    (888) 412-5772
    pwod@pwod.com
    www.pwod.com

    The MIL Network

  • MIL-OSI: Data443 Announces Product Launch – ClassiForAI (CAFAI)

    Source: GlobeNewswire (MIL-OSI)

    RESEARCH TRIANGLE PARK, N.C., Feb. 25, 2025 (GLOBE NEWSWIRE) — Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443” or the “Company”), an AI data security and privacy software company for “All Things Data Security,” today announced new capabilitis for its data classificaiton and governance product line – ClassiForAI (CAFAI). This offering leverages the companies’ significant and ongoing investments in Machine Learning to accelerate customer adoption of AI & LLMs.

    The product capabilty includes access to their new datacenter facilitities in the heart of Research Triangle Park and Data LLM Training engineering. The capability enables customers to come with their own AI engine of choice (Amazon, Microsoft, HuggingFace, ChatGPT, etc.) and have their internal corporate documents form the foundation for a very accurate, safe and confidential AI model for end users, advanced analytics, and of course – to train new AIs. Most importantly, Data443’s capability includes identification of extremely sensitive content that is not allowed to be generally exposed in any way by the AIs.

    “As we spoke to analysts about our approach, the result was the same – ‘Customers are struggling with what do to, don’t trust the public cloud, and really do not have the capabilities inside their own business. Plus, they are nervous about disclosure of sensitive content to employees and customers. Customers have no way of separating this data.”, stated Jason Remillard, CEO and Founder of Data443.

    The methology that Data443 applies is simplistic and focussed on fast results and high accuracy. A known issue with AI engines is that if you train it on too much data, mixed use data or data that is not specific enough – you end up with unreliable models which are prone to problems of hallucianation and unsourced content. Data443’s ClassiForAI utilizes its existing capabiltiy of classifying content with over 1,400 policies in 43 languages. The company can scan a massive content repository (of almost any kind in legal, finiance, defence, government) and produce reference examples of extremely high confidence datasets that match the policy – for example – (Personal Privacy Information) and language (German).

    ‘We’ve been offering our classification engine for different use cases for years, and the feedback is always the same – your policy frameworks are unique and on target. By leveraging our ecosystem (including physical hosting of the models) Data443 is able to provide full lifecycle services for AI accuracy, and reverse train negative outputs for usage in security and disclosure environments. To truely garner the benefits of AI, it isn’t useful if it is inaccurate, making up informtation, or its capabilities degrade over time. Our solutions are designed to be a full life cycle implementation – with continues subscriptions in place to continuously refine models, execute data transactions with them and in some cases, host the hardware and softare components on behalf of the customers”.

    The acquisition coincides with significant market validation of AI-powered email security solutions, evidenced by Abnormal Security’s anticipated IPO and growing enterprise demand for intelligent security platforms like Sailpoint. This strategic move positions Data443 to capture an expanding share of the email security market, which is experiencing rapid growth driven by the increasing sophistication of cyber threats and its recent acquisitions of Cyren.

    The announcement today will deliver immediate benefits to Data443’s customers:

    • Offline and live training of AI LLMs
    • Rental of Data443’s AI hardware, including NVidia, Tenstorrent, AMD, Cerebras Systems.
    • Secured facilites in its new USA-based data center.
    • High power draw capabilities for certain physical premises
    • Continuous leasing of AI engines for continuous data analysis while it is being used for training or queries.
    • Identification and removal of extremely sensitive content as defined by the customer.
    • Reducing exposure of content by LLM’s in chatbots, emails and other distribution types

    “This offering has been a long time in coming as the industry continues to iterate. Much like our investments with Ripple XRP, these long term plays differentiates us from others as we have mature technology, usually with 1-2 decades of runtime, with actual customers. The startup space has much excitement and investment dollars – which we appreciate. We like our position as recognized experts in data center management and classification,” added Remillard. “Like our recent acquisition of Breezemail.ai – we will continue to share with the industry as we win customer engagements.”

    Interested parties may review the offering at the website: https://data443.com/classi-for-ai-cafai/

    About Data443 Risk Mitigation, Inc.

    Data443 Risk Mitigation, Inc. (OTCPK: ATDS) provides software and services to enable secure data across devices and databases, at rest and in flight/in transit, locally, on a network or in the cloud. We are All Things Data Security™. With over 10,000 customers in over 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform or format. Data443’s framework helps customers prioritize risk, identify security gaps and implement effective data protection and privacy management strategies.

    Forward-Looking Statements 

    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of terms such as “expect,” “believe,” “anticipate,” “may,” “could,” “will,” “should,” “plan,” “project,” “intend,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue” or the negative of these words or other comparable terminology. Statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial performance and operating results, and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, or regarding the anticipated consummation of any transaction, are forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties and assumptions, many of which are difficult to predict or are beyond Data443’s control. These risks, uncertainties and assumptions could cause actual results to differ materially from the results expressed or implied by the statements. They may relate to the outcome of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; inability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in the Company’s charter documents; and the uncertainties created by global health issues, such as the ongoing outbreak of COVID, and political unrest and conflict, such as the invasion of Ukraine by Russia. These and other important risk factors are described more fully in the Company’s reports and other documents filed with the Securities and Exchange Commission (“the SEC”), including in Part I, Item 1A of the Company’s Annual Report on Form 10-K filed with the SEC on April 17, 2024, and subsequent filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. Except as otherwise required by applicable law, Data443 undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

    “DATA443” is a registered trademark of Data443 Risk Mitigation, Inc.

    All product names, trademarks and registered trademarks are property of their respective owners. All company, product and service names used in this press release are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

    For further information:        
    Follow us on LinkedIn: https://www.linkedin.com/company/data443-risk-mitigation-inc/
    Follow us on YouTube: https://www.youtube.com/channel/UCZXDhJcx-XgMBhvE9aFHRdA
    Sign up for our Investor Newsletter: https://data443.com/investor-email-alerts/

    To learn more about Data443, please watch the Company’s video introduction on its YouTube channel: https://youtu.be/1Fp93jOxFSg

    Investor Relations Contact:
    Matthew Abenante
    ir@data443.com
    919.858.6542

    The MIL Network

  • MIL-OSI Africa: African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade

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

    The African Development Bank Group (www.AfDB.org) and Standard Bank Group (SBG) on Monday signed a landmark financial agreement to enhance funding for small, medium, and micro enterprises (SMMEs) and expand trade across Africa.

    The agreement includes a R3.6 billion investment in a social bond and a $200 million Risk Participation Agreement (RPA) for Standard Bank of South Africa Limited (SBSA). This initiative strengthens Standard Bank’s lending capacity, ensuring greater access to finance for SMMEs, a critical driver of economic growth and job creation in South Africa.

    The social bond investment promotes inclusive economic development, particularly for SMMEs with a turnover below R300 million and loan sizes under R40 million. This financing will support up to 4,000 businesses, helping them scale operations, create jobs, and contribute to economic resilience.

    Kenny Fihla, Deputy Chief Executive Officer of Standard Bank Group and Chief Executive Officer of SBSA, welcomed the investment, stating: This landmark partnership strengthens our ability to support SMMEs, the backbone of South Africa’s economy. With approximately 3.2 million SMMEs accounting for 60% of jobs, ensuring access to finance is crucial. This initiative aligns with our Sustainable Finance Framework and our commitment to financial inclusion.”

    In addition to the social bond, the $200 million RPA enhances trade finance across Africa, focusing on Low-Income Countries and Transition States. This agreement enables local banks to increase lending by sharing risk, bridging the trade finance gap, and promoting intra-African trade.

    Leila Mokaddem, Director General for Southern Africa at the African Development Bank, highlighted the broader impact: “This collaboration marks a significant milestone in our long-standing partnership and is a testament to our shared commitment to supporting SMMEs’ growth and enhancing trade finance across Africa. Expanding financial inclusion and trade opportunities empowers businesses to drive economic transformation and regional integration. The Standard Bank Group remains a strategic partner in our shared vision for economic development on the continent.”

    This initiative aligns with the African Development Bank’s Ten-Year Strategy (2024–2033), which prioritises industrialisation, regional integration, and improving the quality of life in Africa. It also supports Standard Bank’s Sustainable Finance Framework, reinforcing both institutions’ commitment to fostering green and inclusive growth.

    “We are proud of this transaction, demonstrating our shared commitment to sustainable financing. By supporting businesses, we create long-term economic opportunities and financial resilience,” stated Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank.

    Kenny Fihla reaffirmed the significance of the collaboration:

    “By providing much-needed capital, we are helping enterprises overcome challenges and thrive. This partnership illustrates the power of collaboration in driving meaningful economic and social change in Africa.”

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    For media inquiries, please contact:
    Natalie Naudé

    Communication and External Relations Department
    Email: media@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

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    MIL OSI Africa

  • MIL-OSI United Kingdom: Council launches new funding pilot scheme to support sustainable building projects in Oxford

    Source: City of Oxford

    A new pilot initiative has launched in Oxford, aiming to match small and medium sized businesses (SMEs) and community groups that want to reduce their carbon footprint with funders who can support their projects – helping Oxford’s local businesses and communities on the route to net zero.

    The Local Carbon Oxford Project (LCOP) is a pilot project from Oxford City Council and Low Carbon Hub. It aims to matchmake small and medium sized businesses and community groups (‘developers’) with larger businesses to fund energy efficiency projects across Oxford.

    With buildings responsible for approximately 60% of Oxford’s carbon emissions, enhancing energy efficiency is crucial to achieving the city’s 2040 net zero target. In addition, energy efficiency improvements help create better environments for staff, customers and the community. However, finance can often be a key barrier for many smaller organisations wanting to make changes.

    Local Carbon Oxford aims to resolve this issue by matching small and medium sized businesses and community groups (local charities, community buildings, social enterprises) looking for funding with larger businesses that want to support climate action in Oxford while pursuing their own corporate social responsibility and environmental objectives.

    Eligible projects include LED lighting upgrades, insulation, heat pumps, solar panels, heating controls, and more.

    The project is funded by Innovate UK’s Net Zero Living programme, and is running until 30 June 2025. The Council will act as a broker between businesses and retrofitting projects to ensure that the process is transparent and robust.

    More information about the project, including how to apply can be found on the Local Carbon Oxford webpage.

    Get involved

    Oxford City Council will be holding workshops for project funders and project developers who want to learn more about the initiative:

    Comment

    “The Local Carbon Oxford Project not only supports local businesses with their own energy efficiency projects, but is also helping Oxford’s business community to work together toward a sustainable future.

    “By connecting small and medium businesses with funders, we can help them to overcome financial barriers to making their operations more sustainable, while also helping larger businesses with their corporate social responsibility. If you are interested in becoming a funder or developer, then please get in touch.”

    Councillor Anna Railton, Deputy Leader and Cabinet Member for Zero Carbon Oxford, Oxford City Council

    “Small businesses need all the help they can get to become more resilient and future-proofed. This new funding opportunity will help support new energy efficiency projects in Oxford while also benefiting businesses and local not-for-profits who want to reduce their carbon emissions.”

    Alison Grunewald, Business Relationships Manager, Low Carbon Hub

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Leeds Anchors open doors for supplier networking event

    Source: City of Leeds

    ***** Issued on behalf of the Leeds Anchors Network *****

    A network of mainly large public sector organisations in Leeds that make up the Leeds Anchors Network are hosting a free networking event for local businesses next month.

    With a key focus on facilities management, construction and repairs sectors, the event offers a direct opportunity for businesses of all sizes to connect to key decision makers and buyers who, as part of their involvement in the Leeds Anchors Network have committed to spending more locally.

    The 13 organisations that make up the Leeds Anchor Network have a combined procurement spend of over 2 billion pounds, with an ambition to spend over half of that locally. The network is currently sitting at £820million spent in Leeds and £1billion when including West Yorkshire (2022/23).

    The event will offer businesses the chance to learn more about public sector procurement. Employers including the council, NHS Trusts, universities, colleges, cultural institutions and utilities companies will be attending to share insights into the processes and requirements for working with organisations within the Leeds Anchor Network, as well as the chance to network with other local suppliers from the city.

    The event will take place on Tuesday 4 March from 5 – 7 pm at the University of Leeds. For more information and to book a place visit –  Leeds Anchor Network Supplier Event Tickets, Tue 4 Mar 2025 at 17:00 | Eventbrite

    Chair of the Leeds Anchors Network and Vice Chancellor for Leeds Beckett University, Professor Peter Slee said:

    “All anchor partners recognise and value the role that local businesses play in the city, through employment and their contribution to Leeds’ economy.

    “We’re committed to working with local suppliers and look forward to welcoming businesses to this event, where they can find out more about the partnership and discover how they can work with us to make positive contributions to the economic and inclusive growth of the city and wider region.”

    About the Leeds Inclusive Anchors Network:

    The Leeds Anchor Network was formed in 2018 and brings together 13 of the city’s largest employers – including the council, NHS trusts, higher and further education, culture, and utilities.

    Together they focus on areas where they can make a key difference for the people of Leeds either as an employer, through their procurement, through service delivery or as a civic partners. For more information visit Leeds Anchors | Inclusive Growth Leeds 

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Lifting ban on Irish in our courts wrong on three fronts

    Source: Traditional Unionist Voice – Northern Ireland

    TUV leader Jim Allister MP said:

    “The repeal of the ban on Irish in our courts is a regressive move in terms of equality, justice and finances.

    “The change will result in the legal profession becoming more a cold house for the Unionist community who are already underrepresented in the sector.

    “Importantly it will also negatively impact on the delivery of justice. Often in a court setting how someone says something is just as important as what they say. If a jury can only understand someone in the dock through an interpreter important nuances in tone of voice and even hesitations will be lost. This will impact on the ability of our courts to deliver justice.

    “Finally, this unnecessary move will add to the cost of delivering justice and result in delays in the system due to the growth in a need for translators for people who already adequately speak and understand English.”

    MIL OSI United Kingdom

  • MIL-OSI USA: GAO Urges Attention to 2025 “High Risk List” to Save Billions and Improve Government Efficiency and Effectiveness

    Source: US Government Accountability Office

    WASHINGTON (February 25, 2025) The U.S. Government Accountability Office (GAO) today issued its updated High Risk List, which identifies 38 areas of government operations with serious vulnerabilities to fraud, waste, abuse, and mismanagement, or in need of transformation. The updated list, produced every 2 years at the start of each new Congress, describes the status of high-risk areas, outlines actions that are needed to ensure progress, and identifies a new area in need of attention by the executive branch and Congress. Progress was seen in ten areas, resulting in approximately $84 billion in financial benefits since the last update 2 years ago. One new area was added, and three regressed.

    “GAO’s High Risk List is a blueprint for quickly identifying opportunities to improve program management and save federal funds. In fact, efforts to address high-risk issues have totaled nearly $759 billion in savings—an average of $40 billion per year,” said Gene L. Dodaro, Comptroller General of the United States and head of the GAO. “Congress and executive agencies need to work together to address the thousands of open recommendations that, if implemented, will lead to lasting solutions to these high-risk areas, billions more in cost-savings for Americans, and a more efficient and effective government.”

    Several high-risk areas are critical to better managing the cost of government. GAO’s High Risk List identifies billions of dollars in potential savings among federal government programs. Since 2003, federal agencies have reported $2.8 trillion in estimated improper payments, about 80 percent of which are addressed in programs on the High Risk List. Such programs include Medicaid and Medicare, two of the fastest-growing federal programs, and the Unemployment Insurance program. Additionally, GAO’s High Risk List suggests closing gaps in revenue owed to the government. In 2024, the IRS projected that the net tax gap, or the difference between taxes owed and taxes paid on time, was $606 billion for tax year 2022.

    This year, GAO added one new area, Improving the Delivery of Federal Disaster Assistance, to its High Risk List. In 2024, there were 27 disasters that cost at least $1 billion in economic damages, the most disasters of that size in a single year. The frequency and severity of these disasters demonstrate the need for federal agencies to deliver assistance as efficiently and effectively as possible and reduce the fiscal exposure to disasters.

    Several high-risk areas persist due to emerging issues requiring government response, large and rapidly growing costs, or a failure to make progress in the past several years. Examples of areas in need of significant attention include:

    • Harnessing Modern Information Technology to Improve Services and Programs. The government spends more than $100 billion annually on IT, with the vast majority of this spent on operations and maintenance of existing systems rather than new technology. Many attempts to implement new systems have too often run far over budget, experienced significant delays, and delivered far fewer improvements than promised.
    • Expediting the Pace of Cybersecurity and Critical Infrastructure Protections. Government and private sector systems are under attack thousands of times each day, putting systems supporting Americans’ daily lives at risk such as safe water, energy supplies, reliable and secure telecommunications, and financial networks. Cybersecurity threats require greater federal efforts to better understand the status of technological developments with security implications, such as artificial intelligence, to continue to enhance public and private sector coordination.
    • Better Protecting Public Health and Reducing Risks. Several of GAO’s high-risk areas focus on addressing critical weaknesses in public health efforts. Recommendations focus on issues such as coordinating public health emergencies, improving federal oversight of medical products and food safety, and addressing persistent drug shortages.
    • Addressing Human Capital Management Challenges. Human capital challenges are cross-cutting issues that intersect with many items on GAO’s High Risk List. Twenty areas are included in the list in part due to skills gaps or an inadequate number of staff. Moreover, the government-wide personnel security clearance process, which ensures adequate screening to handle sensitive information, is not effectively managed.

    In the 2 years since our last report, three areas regressed against GAO’s criteria. These include DOD Weapon Systems Acquisition, Improving IT Acquisitions and Management, and Managing Federal Real Property.

    Executive branch agencies need to address thousands of open GAO recommendations to bring about lasting solutions to the 38 high-risk areas. In some cases, legislation is necessary. As such, continued congressional oversight is essential to save costs and improve program management. Congress should also consider requiring interagency groups formed to address high-risk challenges use GAO’s leading practices for collaboration.

    The entire 2025 High Risk List is available on GAO’s High Risk List web page. For more information, contact Michelle Sager, Managing Director of Strategic Issues, at sagerm@gao.gov or Sarah Kaczmarek, Managing Director of Public Affairs, at media@gao.gov.

    #####

    The Government Accountability Office, known as the investigative arm of Congress, is an independent, nonpartisan agency that exists to support Congress in meeting its constitutional responsibilities. GAO also works to improve the performance of the federal government and ensure its accountability to the American people. The agency examines the use of public funds; evaluates federal programs and policies; and provides analyses, recommendations, and other assistance to help Congress make informed oversight, policy, and funding decisions. GAO provides Congress with timely information that is objective, fact-based, nonideological, fair, and balanced. GAO’s commitment to good government is reflected in its core values of accountability, integrity, and reliability.

    MIL OSI USA News

  • MIL-OSI Europe: War in Ukraine: Three Years of Commitment at Sciences Po

    Source: Universities – Science Po in English

    Three years ago, on 24 February 2022, Russia’s invasion of Ukraine shook Europe and the world.

    From the very first days of the conflict, Sciences Po mobilised to support students, researchers, and teachers affected by the war:

    Having dealt with the urgent matter of repatriating and ensuring the safety of the Sciences Po students of various nationalities who were on academic exchange or completing internships in Ukraine or Russia at the time of the invasion, from March 2022 onwards, Sciences Po began hosting Ukrainian students forced to flee their home country.

    Since then, 68 Ukrainian refugee students have been studying on the different Sciences Po campuses, principally the Dijon, Paris, Reims and Nancy Campuses. They come from our partner universities: the National University of Kyiv-Mohyla Academy (NaUKMA) and Taras Shevchenko University.

    The European Commission, through its Erasmus+ programme, made it possible for our institution to welcome those students by providing near 350,000 euros of scholarships.

    The tuition fees for students enrolled in Master’s degree programmes are fully funded by our donors.

    In addition, the university has assisted a dozen Ukrainian students who were enrolled at Sciences Po at the time of the invasion. An exceptional Master’s admissions procedure was introduced, with substantial financial aid made available for these students.

    Among our generous contributors: the Stanton Foundation, the Fondation Vinci pour la Cité, Eurazeo and numerous individual donors… We would like to thank this massive wave of solidarity and the mobilisation of donors, companies, and foundations.

    In 2022, Sciences Po welcomed, as part of the institutional programme PAUSE, the Ukrainian researcher Ievgeniia Gubkina, and provided her an academic affiliation to the Urban School, urgent housing (for her daughter and herself), and administrative support.

    These courses have been given on a voluntary basis by our professors from autumn 2023, at the request of our partner, the National University of Kyiv-Mohyla Academy (NaUKMA). We would like to thank the professors for their commitment.

    Since the Russian invasion, Sciences Po has expanded its partnership network in Ukraine with the signing of exchange partnership agreements with Taras Shevchenko University (2022) and the Kyiv School of Economics (2024).

    As a founding member of CIVICA, the European University of Social Sciences, which brings together ten higher education institutions as a pilot European university, Sciences Po is a participant in the “CIVICA for Ukraine” project, launched in December 2022, with five Ukrainian universities: Kyiv School of Economics (KSE), Kyiv National Economic University (KNEU), National University of Kyiv Mohyla Academy (NaUKMA), Ukrainian Catholic University in Lviv (UCU), and Vasyl’ Stus Donetsk National University (Vasyl’ Stus DonNU).

    “CIVICA for Ukraine” provides a framework for cooperation whose aim is to protect Ukraine’s academic potential and support its higher education in view of an increased collaboration with EU universities after the war. This initiative allows the students and faculty members at Ukrainian partner universities to access the activities of the CIVICA alliance at all degree levels (Bachelor’s, Master’s and PhD). It also has a research component.

    At the start of the 2024 academic year, Dmytro Kuleba, former Ukrainian Foreign Minister, joined Sciences Po as an Adjunct Professor and Harvard University as a Senior Fellow.

    Since January 2025, Dmytro Kuleba has been teaching a course on wartime diplomacy at the Sciences Po Paris School of International Affairs (PSIA) to students enrolled in the Master International Security and the Master International Governance & Diplomacy.

    Three years on, we remain committed to supporting the Ukrainian academic community, and our researchers continue to study this conflict from an academic perspective.

    > Access all articles related to the war in Ukraine and international conflicts.

    MIL OSI Europe News

  • MIL-OSI Global: Butchers, bakers, candlestick-makers − and prostitutes: The women working behind the scenes in papal Avignon

    Source: The Conversation – USA – By Joelle Rollo-Koster, Professor of Medieval History, University of Rhode Island

    The papal palace in Avignon, where the pope’s court was based for much of the 14th century. Jean-Marc Rosier from http://www.rosier.pro/Wikimedia Commons, CC BY-SA

    In the medieval church, women’s roles were limited – usually some form of enclosure and celibacy, such as becoming an anchoress walled up alone for life, or a nun in a classic convent. On the other extreme were a few dramatic examples of women who made history for the church while flying in the face of gender norms: heroes such as Joan of Arc.

    The full truth, though, is more complicated. Medieval women were there all along, even in priests’ own houses. In her book “The Manly Priest,” historian Jennifer Thibodeaux reminds us that while celibacy was always the church’s ideal, it was not truly enforced until later in the Middle Ages. At least until the 11th century, some priests had wives and children who were not considered illegitimate. Even after the 14th-century Black Death, clerical households with wives and children thrived in Italy.

    As the church’s notions of illicit sex and illegitimacy hardened, however, its attitudes toward women did, too. Medieval scholars – all men – defined women’s temperament in negative terms: Women were libidinous, frivolous, unfaithful, capricious, unpredictable and easily tempted. They required constant surveillance and were kept away from clerics, at least in theory. They certainly could not hold overt positions in the pope’s court unless they were his mother or sister.

    Still, another reality emerges. The church may not have seen women as equals, but nevertheless, their work was key to the workings and finances of the papal court and its surroundings. The fact is made obvious in the archives by simply following the money. It was hardly glamorous work but necessary for the functioning of the papal court.

    A page from a 15th-century edition of ‘The Decameron’ shows a laundress working on the beach.
    Bibliothèque de l’Arsenal via Wikimedia Commons

    Vatican payroll

    The Vatican Archives’ account registers make it possible to trace who was paid and for what at the medieval papal court in Avignon, where the papacy was based for most of the 14th century. Amid the tedious task of deciphering various medieval shorthand systems, which organize expenses into categories such as “extraordinary wages,” “liturgical ornaments,” “war expenses” or “wax account,” I encountered surprises: Women appear in the lists of salaried employees at the medieval papal court.

    Furthermore, they were involved in tasks that “touched” the leader of the church. Even a pope’s clothes need making, mending and washing. Women crafted an ornate style highly appreciated by the pontiffs – glorifying them with pure white linen and gold embroidery. The Vatican Apostolic Archives’ Introitus and Exitus, medieval financial records, provide substantial evidence that women made sacerdotal ornaments and garments.

    Between 1364-1374, the registers recorded the pope’s launderesses – women otherwise lost to history. Among them were Katherine, the wife of one Guillaume Bertrand; Bertrande of St. Spirit, who washed all the papal linens upon his election; and Alasacie de la Meynia, the wife of Peter Mathei, who did the pope’s laundry for the Christmas festivities of 1373 and is mentioned again in 1375.

    These women were all wives of officers at the papal court. Records identified them by their full name, which was not the case for everyone on the pope’s payroll. This is important: The records gave them real presence, unlike most female laborers.

    A woman doing laundry appears in the Codices Palatini germanici, a German medieval manuscript.
    Heidelberg University Library

    Later records were less clear. Between the 1380s and 1410s, liturgical garments were made and washed by various women, including the unnamed wife of Peter Bertrand, a doctor of law; Agnes, wife of Master Francis Ribalta, a physician of the pope; another Alasacie, wife of carpenter John Beulayga; and the unnamed wife of the pope’s head cook, Guido de Vallenbrugenti – alias Brucho.

    Only one woman, Marie Quigi Fernandi Sanci de Turre, appears without a male relative. As time progressed, women’s names were not systematically recorded.

    Most of these later women, too, were married to curial officers who maintained rank at court by working in trade, medicine or the military. Women were never paid directly; their husbands collected their salaries. Still, this was not “unseen” labor but a salaried occupation, explicitly recorded.

    A 15th-century painting of the papal palace in Avignon, from the artist workshop of Maître de Boucicaut.
    Bibliothèque Nationale via Wikimedia Commons

    Working day – and night

    Many other women immigrated to work in Avignon. According to a partial survey of the city’s heads of households in 1371, about 15% were women. Most had traveled far and wide – from elsewhere in present-day France, as well as Germany and Italy – to reach the papal court and a chance at employment.

    Of the total female heads of household, 20% declared an occupation. The range of these women’s trades is staggering. There were fruit-sellers, tailoresses, tavern-keepers, butchers, candlemakers, carpenters and stonecutters. Women in Avignon worked as fish-sellers, goldsmiths, glove-makers, pastry-bakers, spice merchants and chicken-sellers. They were sword-makers, furriers, booksellers, bread-resellers and bath-keepers.

    An illustration from ‘Theatrum sanitatis,’ a 13th-century Latin manuscript by Giovannino de Grassi.
    De Agostini Picture Library/Getty Images

    Bathhouses, the “stews,” were often brothels. Prostitution was considered a legal occupation in Avignon and controlled by the church. Marguerite de Porcelude, known as “the Huntress,” paid an annual tax to the diocese for her lodging. Several prostitutes rented tenements from the convent of St. Catherine, and Marguerite Busaffi, daughter of a prominent banker, owned a brothel in the city.

    In 1337, the marshal of the Roman court – the highest secular judicial officer – taxed prostitutes and procurers two sols per week. Pope Innocent VI, scandalized by the practice, annulled it in 1358.

    Still, because of the general taint associated with the sex trade, the church attempted to reform prostitutes and convert them into nuns. The Avignon popes locked them up in a special convent, the Repenties, set up far from the center of town.

    A brothel scene illustrated by Maïtre François in a 15th-century edition of St. Augustine’s book ‘City of God.’
    National Library of the Netherlands via Wikimedia Commons

    Eventually, the establishment became a form of prison for “unruly” women – those who were pregnant out of wedlock. But for some hundred years, groups of ladies of the night took vows and lived as nuns there, controlling the affairs of their own convent with an iron fist.

    In the 1370s, Pope Gregory XI offered the nuns and their donors a plenary indulgence, a forgiveness of sins. They followed a rule emphasizing that regardless of their pasts, abstinence and continence could make them spiritually “chaste.”

    The ladies of the convent left detailed records of the properties they acquired. In 1384, its leaders petitioned the papal treasury, demanding arrears they were owed from a priest’s donation – and received what was due. Few medieval women had the chutzpah to petition a court for past dues, much less the pope’s. The Repenties did.

    Joelle Rollo-Koster does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Butchers, bakers, candlestick-makers − and prostitutes: The women working behind the scenes in papal Avignon – https://theconversation.com/butchers-bakers-candlestick-makers-and-prostitutes-the-women-working-behind-the-scenes-in-papal-avignon-249345

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Prime Minister’s Oral Statement to the House of Commons: 25 February 2025

    Source: United Kingdom – Government Statements

    Oral statement to Parliament

    Prime Minister’s Oral Statement to the House of Commons: 25 February 2025

    The Prime Minister’s Oral Statement to the House of Commons.

    Mr. Speaker, three years since Russia launched its vile assault on Ukraine, I would like to address the international situation and the implications for Britain’s national security. 

    Mr. Speaker, in my first week as Prime Minister, I travelled to the NATO summit in Washington with a simple message. 

    That NATO and our allies could trust this Government would fulfil Britain and indeed the Labour Party’s historic role to put our collective security first. 

    I spoke of my great pride, Mr Speaker, to lead the party that was a founding member of NATO, the inheritor of the legacy of Clement Attlee and Ernest Bevin – who not only stood behind Winston Churchill in wartime but ‘won the peace’ by establishing the great post-war order here and abroad. 

    Mr. Speaker, it is a proud legacy but in a world like ours it is also a heavy one. Because the historical load we must carry to fulfil our duty is not as light as it once was. 

    We must bend our backs across this House because these times demand a united Britain, and we must deploy all of our resources to achieve security. 

    Mr. Speaker, as a young man, I vividly remember the Berlin Wall coming down. It felt as if we were casting off the shackles of history, continent united by freedom and democracy. If you had told me then, that in my lifetime we would see Russian tanks rolling into European cities again I would not have believed you. 

    Yet here we are, in a world where everything has changed. Because three years ago that is exactly what happened. 

    Britain can be proud of our response. British families opened their doors to fleeing Ukrainian citizens, the ‘yellow and light blue’ fluttering on town halls and churches, the length and breadth of this country.

    And the party opposite, in Government was robust in our response. I supported that in opposition; I applaud them for it now.

    And we have built on that, bringing our support for Ukraine to a record level this year. 

    Mr. Speaker, we should not pretend that any of this has been easy. 

    Working people have already felt the cost of Russian actions through rising prices and bills.  

    Nonetheless, one of the great lessons of our history is that instability in Europe will always wash up on our shores, and that tyrants like Putin only respond to strength. 

    Russia is a menace in our waters, in our airspace and on our streets. They have launched cyber-attacks on our NHS – only seven years ago, a chemical weapons attack on the streets of Salisbury. 

    We must stand by Ukraine – because if we do not achieve a lasting peace, then the economic instability, the threats to our security, they will only grow. 

    And so, as the nature of that conflict changes, as it has in recent weeks, it brings our response into sharper focus. 

    A new era that we must meet, as we have so often in the past, together – and with strength. 

    Mr. Speaker, the fundamentals of British strategy are unchanged. 

    I know that the current moment is volatile, but there is still no good reason why they cannot endure.  

    So let me spell out to the House exactly how we will renew them for these times. 

    First, NATO is the bedrock of our security – and will remain so. 

    It has brought peace for 75 years. It is as important today as the day on which it was founded.  

    Putin thought he would weaken NATO; he has achieved the exact opposite. 

    And it remains the organisation which receives the vast bulk of our defence effort, in every domain, and that must continue.  

    Second, we must reject any false choice between our allies, between one side of the Atlantic or the other. That is against our history – country and party – because it is against our fundamental national interest. 

    The US is our most important bilateral alliance. It straddles everything from nuclear technology, to NATO, to Five Eyes, AUKUS and beyond.

    It has survived countless external challenges in the past. We’ve fought wars together; we’re the closest partners in trade, growth and security.

    So this week when I meet President Trump I will be clear. I want this relationship to go from strength to strength. 

    But Mr. Speaker, strength in this world also depends on a new alliance with Europe. 

    As I said in Paris last week, our commitment to European defence and security is unwavering. But now is the time to deepen it. 

    So we will find new ways to work together on our collective interests and threats, protecting our borders, bringing our companies together, seeking out new opportunities for growth. 

    Third, Mr Speaker, we seek peace not conflict, and we believe in the power of diplomacy to deliver that end. 

    That, of course, is most pressing in Ukraine. Nobody in this House or this country wants the bloodshed to continue – nobody.

    And Mr. Speaker, I have seen the devastation in Ukraine first-hand. 

    What you see in places like Bucha – that never leaves you. 

    But for peace to endure in Ukraine and beyond, we need deterrence.  

    I know that this House will endorse the principle of winning peace through strength. 

    So we will continue to stand behind the people of Ukraine. We must ensure they negotiate their future and we will continue to put them in the strongest position for a lasting peace. 

    Fourth, Mr. Speaker, we must change our national security posture. 

    Because a generational challenge requires a generational response. 

    That will demand some extremely difficult and painful choices. 

    And through those choices, as hard as they are, we must also seek unity.

    A whole society effort that will reach into the lives, the industries and the homes of the British people. 

    I started this statement by recalling the era of Attlee and Bevin, and, of course, this year we will mark many anniversaries of that greatest generation. 

    We must find courage in our history. Courage in who we are as a nation because courage is what our own era now demands of us. 

    So, starting today, I can announce this Government will begin the biggest sustained increase in defence spending since the end of the Cold War. 

    We will deliver our commitment to spend 2.5% of GDP on defence but we will bring it forward so that we reach that level in 2027. 

    And we will maintain that for the rest of this Parliament.

    Let me spell that out, Mr Speaker. That means spending £13.4 billion more on defence every year from 2027. 

    But Mr. Speaker, we also face enemies that are sophisticated in cyber-attacks, sabotage, even assassination.

    And so our intelligence and security services are an increasingly vital part of protecting both us and our allies. 

    So on top of the funding of 2.5% that I have just announced, going forward, we will recognise the incredible contribution of our intelligence and security services to the defence of the nation, which means, taken together, we will be spending 2.6% on defence by 2027.

    But Mr. Speaker, we must go further still. 

    I have long argued that in the face of ongoing, generational challenges, all European allies must step up and do more for our own defence. 

    So, subject to economic and fiscal conditions, and aligned with our strategic and operational needs, we will also set a clear ambition for Defence spending to rise to 3% of GDP in the next Parliament. 

    Mr Speaker, I want to be very clear, the nature of warfare has changed – significantly. That is clear from the battlefield in Ukraine, and so we must modernise and reform our capabilities as we invest. 

    I equally want to be very clear that like any other investment we make we must seek value for money.

    And that’s why we’re putting in place a new Defence Reform and Efficiency Plan, jointly led by my Right Honourable Friends the Chancellor and the Defence Secretary.

    This investment means that the UK will strengthen its position, as a leader in NATO and in the collective defence of our continent, and we should welcome that role. 

    It is good for our national security. It is also good for the defining mission of this government to restore growth to our economy.  And we should be optimistic of what it can deliver in those terms. 

    But Mr. Speaker, in the short-term, it can only be funded through hard choices. 

    And in this case, that means we will cut our spending on development assistance, moving from 0.5% of GNI today to 0.3% in 2027 fully funding our increased investment in Defence.  

    I want to be clear to the House, that is not an announcement I am happy to make.  

    I am proud of our pioneering record on overseas development, and we will continue to play a key humanitarian role in Sudan, in Ukraine and in Gaza, tackling climate change, supporting multinational efforts on global health and challenges like vaccination.  

    In recent years the development budget was redirected towards asylum backlogs, paying for hotels. So, as we are clearing that backlog at a record pace there are efficiencies that will reduce the need to cut spending on our overseas programmes. 

    But nonetheless, it remains a cut – and I will not pretend otherwise.

    We will do everything we can to return to a world where that is not the case and rebuild our capacity on development.

    But at times like this, the defence and security of the British people must always come first. That is the number one priority of this Government.  

    But Mr. Speaker, it is not just about spending. Our whole approach to national security must now change. 

    We will have to ask British industry, British universities, British businesses, and the British people to play a bigger part; use this to renew the social contract of our nation, the rights and responsibilities that we owe one another.  

    The first test of our defence policy is, of course, whether it keeps our country safe. But the second should be whether it improves the conditions of the British people, does it help provide the economic security that working people need.

    Because ultimately, as Attlee and Bevin knew, that is fundamental to national security as well. 

    We will use this investment as an opportunity.

    We will translate defence spending into British growth, British jobs, British skills, British innovation; we will use the full powers of the Procurement Act to rebuild our industrial base. 

    And, Mr. Speaker, as the Strategic Defence Review is well underway and across Government we are conducting a number of other reviews relevant to national security, it is obvious that these reviews must pull together. 

    So before the NATO summit in June, we will publish a single National Security Strategy and we will bring it to this House. 

    Because Mr. Speaker, as I said earlier, that is how we must meet the threats of our age – together and with strength.  

    A new approach to defence. A revival of our industrial base. A deepening of our alliances. 

    The instruments of our national power brought together, creating opportunity, assuring our allies, delivering security for our country. 

    Mr. Speaker, at moments like these in our past, Britain has stood up to be counted. It has come together, and it has demonstrated strength.  

    That is what the security of our country needs now, and it is what this Government will deliver. 

    And I commend this statement to the House.

    Updates to this page

    Published 25 February 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Seasonal farm workers deserve proper protections

    Source: Scottish Greens

    Migrant workers are key to our farming industries – they must be treated as such.

    The Scottish Greens have welcomed an extension of the seasonal worker scheme for farmers, but have urged the UK Government to review their ambitions to taper it off too soon.

    Rural affairs spokesperson Ariane Burgess MSP is concerned that what is being proposed could have a lasting negative effect on Scotland’s agriculture industry that relies heavily on migrant workers annually. 

    Ms Burgess said:

    “It will be a sigh of relief for farmers knowing they will have workers to harvest their crops, fruit and veg. But they should not have been in this position in the first place, it is one of the many destructive legacies of Brexit on our agriculture and economy.

    “I have serious concerns about some of the government’s goals for the scheme, including lowering the number of visas granted, and its aim to replace workers with technology like robots for harvesting. 

    “While machines are continuing to get smarter, the act of picking strawberries and raspberries grown here in Scotland is a gentle handed one. 

    “Lowering visa numbers could create further problems and dangerous working situations for those who are working on our farms. 

    “While seasonal worker visas are necessary for farming here in Scotland, there are very real risks of exploitation and modern slavery, and there must be more protections offered to avoid workers being subjected to this.

    “One solution we would support is to introduce a Scottish visa as an alternative. This would be a fairer way to give migrant workers more rights on our own terms and to keep our rural and agricultural sectors thriving, without exploitative practice happening below the radar.”

    MIL OSI United Kingdom

  • MIL-OSI Russia: Students of SPbGASU were told about financial instruments of the money market

    Translartion. Region: Russians Fedetion –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering –

    On February 24, third-year students of the Faculty of Economics and Management of SPbGASU listened to a lecture on “Financial Instruments of the Money Market”. The event took place in the office of SRO A “Association of Builders of St. Petersburg”.

    First Deputy General Director Boris Lysich introduced the speakers – employees of Uralsib Bank: Director of Development and Mentoring from the Premium Bank Department Milana Semikopenko and financial consultant Dmitry Koveshnikov. Boris Ivanovich informed the students about the opportunity to do an internship at the bank, as well as to choose a topic for their diploma work that is close to the banking sector.

    During the lecture, students learned what shares are for, what denomination Russian bonds have, whether it is worth buying yuan, and much more.

    “A very useful lecture! We had heard about financial instruments, but we were not familiar with them in such detail,” shared her opinion Daria Pilyugina.

    “I liked everything. Complex things were explained in simple language,” said Sergei Kotov.

    As Associate Professor of the Department of Management in Construction Alexandra Prikhodko explained, the lecture was held within the framework of the topic “The Economic Essence of Benchmarking” in the course “Benchmarking in Construction”.

    According to Alexandra Nikolaevna, the importance of such events is in immersing students in professional topics and the opportunity to personally communicate with professionals representing real market segments: “Working to improve students’ financial literacy is an important task both in general and in the context of each discipline related to management practices. A modern manager must have complete knowledge, including in the field of financial instruments. And the experience of leading construction companies, their ups and downs, is invaluable material that must be learned from and conclusions drawn. This will certainly help our guys in their professional careers. In addition, the example of young and successful specialists who come to the SRO site to meet with students, such as our guests today, inspires and serves as an excellent example.”

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

    MIL OSI Russia News

  • MIL-OSI: The Now Corporation’s (OTC: NWPN) Green Rain Solar Inc. and Chronical Engineering Partner on EV Charging Feasibility Study at Fairfield Inn & Suites Alamogordo

    Source: GlobeNewswire (MIL-OSI)

    PASADENA, Calif., Feb. 25, 2025 (GLOBE NEWSWIRE) — The Now Corporation (OTC: NWPN), through its subsidiary Green Rain Solar Inc., is pleased to announce a partnership with Chronical Engineering to conduct a feasibility study for an electric vehicle (EV) charging station at Fairfield Inn & Suites Alamogordo in Alamogordo, New Mexico. This marks The Now Corporation’s first EV charging initiative in the state, highlighting its commitment to expanding renewable energy infrastructure.

    New Mexico offers a business-friendly environment for renewable energy projects, making it an attractive location for EV charging expansion. The increasing adoption of electric vehicles, coupled with strong government support, creates a prime opportunity to establish strategic charging locations that benefit both travelers and local communities.

    “We are excited to work with Chronical Engineering on this feasibility study,” said Alfredo Papadakis, CEO of The Now Corporation. “Green Rain Solar Inc. is dedicated to advancing clean energy solutions, and integrating EV charging infrastructure is a natural step in our growth strategy.”

    The feasibility study will evaluate the site’s technical requirements, energy sources, and economic impact, with the goal of implementing a state-of-the-art EV charging station powered by sustainable energy solutions. The Now Corporation sees this project as a foundation for further EV charging deployments in high-demand locations.

    About The Now Corporation:

    The Now Corporation (OTC: NWPN) is committed to advancing clean energy solutions through its subsidiary, Green Rain Solar Inc. Green Rain Solar focuses on urban rooftop solar installations and grid-connected power solutions, targeting markets with high energy costs. By combining state-of-the-art solar and battery technologies, The Now Corporation is dedicated to driving innovation and sustainability in the renewable energy sector.

    About Green Rain Solar Inc.:

    Green Rain Solar Inc., a subsidiary of The Now Corporation (OTC: NWPN), is a solar energy utility company specializing in urban solar energy and grid integration. The company develops innovative rooftop solar projects to transform sunlight into grid-connected power, promoting sustainable energy solutions for high-cost urban areas. https://greenrainenergy.com/

    About M Love Vintage Holdings Inc.

    M Love Vintage Holdings Inc. offers clients exclusive access to an unparalleled collection of vintage fashion. From rare accessories to complete ensembles, the company curates garments from past eras, celebrating the beauty and craftsmanship of bygone times.

    Legal Notice Regarding Forward-Looking Statements:

    This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. This includes the possibility that the business outlined in this press release may not be concluded due to unforeseen technical, installation, permitting, or other challenges. Such forward-looking statements involve risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of The Now Corporation to differ materially from those expressed herein. Except as required under U.S. federal securities laws, The Now Corporation undertakes no obligation to publicly update any forward-looking statements as a result of new information, future events, or otherwise.

    For press inquiries, please contact:
    Michael Cimino
    Michael@pubcopr.com

    The MIL Network

  • MIL-OSI: Champion Safe Partners with NetWize to Enhance Technology, Streamline Operations and Drive Sales, Margin, and Profit Growth

    Source: GlobeNewswire (MIL-OSI)

    PROVO, UT, Feb. 25, 2025 (GLOBE NEWSWIRE) — Champion Safe Company, a leading manufacturer of premium safes and wholly-owned subsidiary of American Rebel Holdings, Inc. (NASDAQ: AREB), America’s Patriotic Brand (americanrebel.com), has announced a strategic partnership with NetWize, a premier IT services provider, to modernize and optimize its technology infrastructure. This collaboration will improve efficiency, security, and overall business operations as Champion Safe continues its commitment to innovation and quality.

    “Champion Safe is dedicated to delivering the highest quality security solutions to our customers, and that extends to how we operate as a company,” said Tom Mihalek, CEO of Champion Safe. “By partnering with NetWize, we are investing in cutting-edge technology and streamlined operations that will allow us to better serve our customers, support our long-term growth, and increase sales throughput, overall margin and profitability.”

    NetWize will implement a comprehensive technology upgrade across Champion Safe’s operations, including enhanced cybersecurity measures, improved data management, and optimized IT infrastructure to support future expansion.

    “We are excited to work with Champion Safe, a company that shares our dedication to excellence,” said Jed Crossley, CEO of NetWize. “Our expertise in IT solutions will help Champion Safe increase operational efficiency, enhance security, and leverage technology to drive innovation in the safe industry.”

    The partnership underscores Champion Safe’s ongoing efforts to remain at the forefront of the safe manufacturing industry by integrating modern technological solutions into its business model.

    Customers can expect an even greater level of service, reliability, and innovation as a result of this collaboration.

    For more information about Champion Safe, visit championsafe.com.

    To learn more about NetWize, visit NetWize.com.

    About Champion Safe Company

    Champion Safe Company has been at the forefront of safe manufacturing for over 25 years, offering a range of high-quality safes designed for ultimate security and fire protection. With a commitment to craftsmanship and innovation, Champion Safes are trusted by homeowners, gun owners, and businesses across the nation.

    About NetWize

    Founded in 1998, NetWize is a reputable IT provider located in Utah, committed to empowering businesses with scalable technology solutions and expert IT services. We excel in managed IT services, cloud solutions, cybersecurity, and strategic IT consulting, all customized to address the unique needs of our clients. Our certified team is dedicated to boosting productivity and driving innovation, ensuring that your IT infrastructure performs at its best.

    About American Rebel Holdings, Inc.
    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebel.com and americanrebelbeer.com. For investor information, visit americanrebel.com/investor-relations.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of the NetWize partnership, actual effect of the partnership on sales, margin and profit growth, our ability to effectively execute our business plan, and the Risk Factors contained within AREB’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023 and Form 10-Q for the nine months ended September 30, 2024. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contacts:
    jon.minder@americanrebel.com
    thomas.mihalek@americanrebel.com

    The MIL Network