NewzIntel.com

Category: Economy

  • MIL-OSI China: China sees record-breaking inter-regional trips in travel rush

    Source: China State Council Information Office 2

    Passengers wait to board a train at Luoyang Longmen Railway Station in Luoyang, central China’s Henan Province, Feb. 22, 2025. [Photo/Xinhua]
    The total number of inter-regional passenger trips across China during the 40-day Spring Festival travel rush, also known as chunyun, reached a record of 9.02 billion, official data showed Sunday.
    The figure marked a 7.1 percent increase over the same period in 2024, according to a special work team established to facilitate sound operations during chunyun, which concluded on Saturday.
    The travel rush, often referred to as the world’s largest annual human migration, highlights China’s vast mobility and economic activity. With a steadily recovering economy and rising demand for travel, this year’s chunyun saw a robust transportation network handling unprecedented passenger volumes.
    Road traffic made up the lion’s share of these trips. During the period, about 8.39 billion trips were made by road, increasing 7.2 percent year on year.
    Railway passenger volume reached 513 million, expanding 6.1 percent year on year, setting a new record during the chunyun period, according to the China State Railway Group Co., Ltd.
    According to the Civil Aviation Administration of China, the country’s civil aviation sector recorded 90.2 million passenger trips and 739,000 flights during the period, both of which reached new historical highs.
    The Spring Festival, an occasion for family reunions, fell on Jan. 29 this year.

    MIL OSI China News –

  • MIL-OSI China: China outlines key tasks to deepen rural reforms, advance rural revitalization

    Source: China State Council Information Office 2

    Agricultural machines work in fields at a farm of Beidahuang Group in northeast China’s Heilongjiang Province, Oct. 12, 2024. [Photo/Xinhua]
    China unveiled its “No. 1 central document” for 2025 on Sunday, outlining priorities to deepen rural reforms further and solid steps to advance all-around rural revitalization.
    As the first policy statement released by China’s central authorities each year, the document is seen as an indicator of policy priorities.
    The document consists of six parts covering six areas: ensuring the supply of grain and other important agricultural products, consolidating the achievements of poverty elimination, developing local industries, advancing rural construction, improving the rural governance system, and optimizing the rural resource allocation system.
    The document calls for enhanced efforts in work related to agriculture, rural areas and farmers in 2025 and beyond, and sets the goals of advancing all-around rural revitalization and consolidating the country’s agricultural foundations further.
    With reform, opening-up, and scientific and technological innovation as driving forces, the country will safeguard its grain security and ensure that no large-scale lapse or relapse into poverty occurs, the document says.
    The country will make every effort to enhance agricultural efficiency, invigorate rural areas and increase farming incomes, thereby laying a solid foundation for the advancement of Chinese modernization, the document stresses.
    It emphasizes the importance of developing new quality productive forces in agriculture in light of local conditions. It also calls for the cultivation of leading high-tech agricultural enterprises, and the acceleration of breakthroughs in crop varieties.
    China will support the development of smart agriculture and expand the application scenarios of technologies such as artificial intelligence, big data, and low-altitude systems, according to the document.
    It outlines plans to expand cold-chain logistics and instant retail services to townships, and encourages regions with suitable conditions to establish public charging and battery-swap facilities for electric vehicles.
    To promote the effective management and utilization of rural resources and assets, the document calls for the exploration of feasible ways to make good use of legally owned rural housing through methods such as leasing, equity participation and cooperation.
    The document urges innovation efforts related to the financing mechanisms for rural revitalization. Steps will be taken to strengthen support from central budget investments, ultra-long special government bonds, and special local government bonds for major projects in agriculture and rural areas. Monetary policy tools will be utilized to encourage financial institutions to increase funding for rural revitalization.
    Reforms related to forestry, state farms, and supply and marketing cooperatives will be advanced in a coordinated manner. The document stresses the importance of deepening the reform of the collective forest tenure, of enhancing comprehensive reforms of water pricing and water rights in the agricultural sector, of strengthening water usage management, and of promoting water-saving irrigation technologies.
    Eligible cities are encouraged to include their agricultural migrant populations with stable employment into the scope of local urban housing security policies gradually, the document notes.

    MIL OSI China News –

  • MIL-OSI New Zealand: Future use of storm-affected land

    Source: Auckland Council

    More than 1200 high-risk Auckland properties are expected to be purchased by Auckland Council before the end of 2025 – making it one of the largest land acquisition programmes undertaken in New Zealand.

    We are carefully deciding what to do with this storm-affected land, with decisions expected to take years.

    Uses being considered for storm-affected land

    We want to ensure Auckland’s land is used effectively to provide homes and maintain strong communities, while managing risk and reducing the financial impact to ratepayers.

    If we keep the land, options for use could include:

    • flood resilience and stream management

    • adding it to neighbouring parkland or bush

    • managing it as high-hazard land.

    If we don’t keep the land, options could include:

    • sale for safe redevelopment

    • sale with conditions to manage the risk (such as converting ground floor units to storage)

    • sale to neighbours for extra backyard space.

    Auckland Council is considering a range of options for storm-affected land that manages the risks, ensures the land is used effectively and efficiently.

    How decisions will be made

    Auckland Council’s Governing Body is responsible for deciding whether to keep or sell the land, costs associated with keeping the land (if applicable), and considering any views and preferences expressed by a local board.

    The local board is responsible for communicating their views and preferences about storm-affected land in their rohe (boundaries); and is responsible for any storm-affected land that the Governing Body makes available for a local park and/or local service activity – including budget required to maintain it.

    With 1200 properties to assess, carefully deciding the future use for every section will take several years.

    Diagram showing the management of council land after purchase.

    Have a suggestion for a site?

    Where people have suggestions for specific Category 3 sites, we can capture that information in our expressions of interest register.

    Draft policy and implementation plan

    You can read the Draft storm-affected land use – policy and implementation plan on the Auckland Council website (item 12, attachment 1). This policy was endorsed by the council’s Transport, Resilience and Infrastructure Committee on Thursday 13 February, ahead of the final approval step with the council’s Policy and Planning Committee expected in March.

    Frequently asked questions:

    What will happen to the land when properties are bought out?

    Auckland Council will explore all possible uses for the land and this may mean keeping it or selling it. We need to manage community expectations about what activities are possible, with safety being our no.1 priority.

    Redevelopment potential will be assessed by looking at the whole property rather than the existing dwelling – there may be scope to locate activity on other parts of the site, or options to re-engineer the land to mitigate risk.

    Who will decide how the land is used?

    We don’t know yet what the total land holdings will be from the buy-out process, so deciding the future use for every parcel of land will take several years.

    It’s anticipated that the council’s Governing Body will make most of the decisions regarding storm-affected land, with consideration of local interests.

    The Storm-affected Land Use Policy has been endorsed by Auckland Council’s Transport, Resilience and Infrastructure Committee and will go to the Policy and Planning Committee in March for final approval. This policy guides the use of this land. 

    Will the community have a say in what happens to land bought out by Auckland Council?

    We want to ensure communities are part of the process to determine the future use of the land, where possible, and we’re also exploring opportunities for partnerships with mana whenua.

    Where community members have suggestions for specific Category 3 sites, we can capture that information in our expressions of interest register, to consider as part of the Future Land Use process. Please send ideas to our expressions of interest register.

    Can the public access Category 3 land purchased by Auckland Council?

    Many of these properties are active worksites, where buildings are being demolished, deconstructed or removed. The council considers these properties pose significant health and safety risks for the public, and strongly discourages anyone from entering and accessing them.

    What will happen to vacant land while the long-term use is decided?

    Council-owned vacant land will be maintained to ensure a ‘kept look’ with a focus on maintaining areas visible from roads and footpaths (i.e. berms and front yards on properties that have road frontages). A budget of $39.4 million has been allocated over 10 years for ongoing maintenance including things like mowing and tree trimming. If you would like to report any maintenance issues please email recoveryoffice@aucklandcouncil.govt.nz or if you see any suspicious behaviour please report it to the police.

    Why does it take so long to decide on the future use of these vacant sites?

    More than 1200 high-risk properties are expected to be purchased by the end of the year – making it one of the largest land acquisition programmes undertaken in New Zealand.

    We want to make the best decisions for the land and the community. The safe use of the site is our no.1 priority.

    We have to undertake thorough analysis to explore all possible uses for the land. Making the right long-term decisions takes time and we ask that communities are patient while this work is undertaken.

    Will you be selling sites to recoup some of the costs of the buy-outs?

    Aucklanders have told us we need to minimise the impact on rates of the buy-out programme, which along with other recovery costs tallies to around $1 billion.

    Limited opportunities to sell land for redevelopment or to adjacent landowners, in situations where hazards can be mitigated, will be explored.

    Although the existing dwellings were unsafe to live in, there may be options to redevelop the site in a different way and build new housing that doesn’t have the same levels of risk. This may include amalgamating sites into clusters. More homes are an important outcome for local communities.

    Where we do sell land, we’ll ensure that it is sold with conditions appropriate to manage the level of risk e.g. converting ground floor units to storage.

    Read all recovery FAQs on OurAuckland.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Operation Eclipse raids in the south-east

    Source: South Australia Police

    Police have seized almost $800,000 worth of illegal tobacco and $66,000 in cash in raids on 10 premises in the South-East of the state.

    Serious and Organised Crime Branch, Limestone Coast police and members from Consumer and Business Affairs searched premises at Mount Gambier, Naracoorte and Millicent on 19 and 20 February as part of Operation Eclipse investigations.

    The locations searched included tobacconists, candy and gift shops, a commercial storage facility and residential premises.

    In one search at a Mount Gambier gift shop $245,000 of illicit tobacco was located. Further investigations resulted in the seizure of $540,000 worth of tobacco products at a commercial storage premises in Mount Gambier.

    The searches resulted in the arrest of a man, 23, of Salisbury North for failing to provide his name and address.

    Operation Eclipse commander Detective Chief Inspector Brett Featherby said the regional seizures had significantly disrupted the activities of the syndicates.

    “If organised crime syndicates think they can operate in regional areas and not come to the attention of police they are wrong,’’ he said.

    “The seizures in the South-East have enhanced our knowledge of the operating model of the syndicates and are the subject of further investigations.

    “SAPOL will continue to have a whole of organisation response that targets the syndicates to disrupt their financial operations and criminal activity.

    “We will pursue criminal charges when sufficient evidence exists and that includes those who are supporting and enabling that activity.’’

    Operation Eclipse detectives have also searched another four premises in the metropolitan area since 18 February. Illicit tobacco worth $140,000 was seized in those searches.

    Detective Chief Inspector Featherby also appealed for public information into an arson attack at a tobacconist on Glynburn Road at Hectorville on Friday 21 February.

    In the incident three suspects arrived in a late model white sedan and attempted to set fire to the front of the premises. A witness extinguished the fire.

    “We would like to hear from anyone who knows of any person who may have burn injuries or who may have presented at a medical facility with burns since last Friday,’’ Detective Chief Inspector Featherby said.

    “We are also appealing for dash cam footage from vehicles in the Hectorville area between 4.30am and 5.30am on 21 February or anyone who observed people in a white late model sedan filling a fuel container at a petrol station.”

    Operation Eclipse has so far resulted in 29 arrests for offences including blackmail, arson, money laundering and serious criminal trespass.

    There have been 122 premises searched – 36 residential and 86 businesses – almost $1.25 million in cash, three firearms and almost $10.1 million in tobacco seized. Nine vehicles have also been seized for confiscation.

    Significantly, there have been 230 calls to Crime Stoppers since October 2 that have resulted in information being provided to police.

    Anyone with any information on criminal activities surrounding the sale of illicit tobacco is urged to call Crime Stoppers on 1800 333 000 or visit www.crimestopperssa.com.au – You can remain anonymous.

    MIL OSI News –

  • MIL-OSI: Exodus Movement, Inc. to Announce Fourth Quarter and Full Year 2024 Results on March 3, 2025

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., Feb. 24, 2025 (GLOBE NEWSWIRE) — Exodus Movement, Inc. (NYSE American: EXOD) (“Exodus”), a leading self-custodial cryptocurrency platform, today announced that it will release its fourth quarter and full year 2024 financial results on Monday, March 3, 2025, after market close. An earnings conference webcast will be held at 4:30 PM ET on the same day.

    To access the webcast, please use this link. It will also be available on the Company’s website www.exodus.com. Supplementary materials will also be made available prior to the webcast on the “Investor Relations” portion of the Company website.

    About Exodus

    Exodus is a financial technology leader empowering individuals and businesses with secure, user-friendly crypto software solutions. Since 2015, Exodus has made digital assets accessible to everyone through its multi-asset crypto wallets prioritizing design and ease of use.

    With self-custodial wallets, Exodus puts customers in full control of their funds, enabling them to swap, buy, and sell crypto. Its business solutions include Passkeys Wallet and XO Swap, industry-leading tools for embedded crypto wallets and swap aggregation.

    Exodus is committed to driving the future of accessible and secure finance. Learn more at exodus.com or follow us on X at x.com/exodus.

    Investor Contact
    investors@exodus.com

    Disclosure Information
    Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com/blog; press releases; public videos, calls, and webcasts; and social media: X (@exodus and JP Richardson’s feed @jprichardson), Facebook, LinkedIn, and YouTube.

    Forward-Looking Statements
    This press release contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “intend,” “believe,” or other comparable terminology. Forward-looking statements in this document include, but are not limited to, quotations from management regarding confidence in our products, services, business trajectory and plans, and certain business metrics. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Amendment No. 6 to our Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”) on November 27, 2024, as well as in our other reports filed with the SEC from time to time. All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

    Source: Exodus Movement, Inc.

    The MIL Network –

  • MIL-OSI: Fluent, Inc. to Announce Unaudited 2024 Fourth Quarter and Full-Year Financial Results and Host Earnings Conference Call on February 28, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 24, 2025 (GLOBE NEWSWIRE) — Fluent, Inc. (NASDAQ: FLNT) announced today that it will report its unaudited financial results for the quarter and fiscal year ended December 31, 2024, prior to the open of the U.S. financial markets on February 28, 2025. Fluent will host a conference call at 9:00 am ET on the same day to discuss the results, which should be considered preliminary and unaudited. The Company expects to report its audited full-year 2024 financial results on a Form 10-K to be timely filed with the Securities and Exchange Commission.

    The conference call can be accessed by phone after registering online at Fluent Conference Call or via audio at Audio Registration. The call and accompanying slide presentation will also be webcast simultaneously on the Fluent website on the Investor Relations Page. Please log in at least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may be required. Following the call, a recorded replay of the webcast will be available for one year on Fluent’s Investor Relations Page.

    About Fluent, Inc.
    Fluent, Inc. (NASDAQ: FLNT) is a commerce media solutions provider connecting top-tier brands with highly engaged consumers. Leveraging diverse ad inventory, robust first-party data, and proprietary machine learning, Fluent unlocks additional revenue streams for partners and empowers advertisers to acquire their most valuable customers at scale. Founded in 2010, Fluent uses its deep expertise in performance marketing to drive monetization and increase engagement at key touchpoints across the customer journey. For more insights, visit https://www.fluentco.com/.

    Contact Information:
    Investor Relations
    Fluent, Inc.
    InvestorRelations@fluentco.com

    The MIL Network –

  • MIL-OSI China: World’s largest ice-and-snow park to close as temperatures rise

    Source: China State Council Information Office 2

    Harbin Ice-Snow World, the largest theme park of its kind in the world, is set to close Wednesday night as temperatures rise, organizers announced Monday.
    By Sunday night, the 64th day of its 26th edition, the park had clocked up 3.47 million visits.
    Situated in Harbin, the capital of Heilongjiang Province in northeast China known as the “city of ice,” this year’s park was constructed with 300,000 cubic meters of ice and snow.
    Beyond its artistic ice sculptures, the park boasts a range of interactive winter attractions, including a snowflake ice maze, ice rinks, and a massive ice slide.
    Recent seasonal temperature increases in Harbin, with highs surpassing zero degrees Celsius, have heightened the risk of outdoor ice melting.
    To ensure year-round enjoyment, the world’s largest indoor ice-and-snow theme park will reopen on Thursday after undergoing renovations. Located within Harbin Ice-Snow World, the facility, which was completed in July 2024, began its upgrades on Jan. 30 and promises a unique ice-and-snow tourism experience for visitors in the spring, summer, and autumn seasons.
    With its booming ice-and-snow tourism, northeast China has gained fresh appeal. Once known as the country’s rustbelt, the region had long struggled with a painful economic transition and talent outflows.
    As an established ice-and-snow theme park, Harbin Ice-Snow World is one of China’s leading winter attractions. It surged in popularity on Chinese social media last winter, becoming an internet sensation as passion for winter sports and tourism continues to rise across the country.
    China aims to boost its ice-and-snow economy as a new source of growth, targeting an economic scale of 1.2 trillion yuan (about 167.32 billion U.S. dollars) by 2027 and 1.5 trillion yuan by 2030, according to guidelines released by the State Council last year. 

    MIL OSI China News –

  • MIL-OSI NGOs: ‘Drill Baby, Drill’: Report shows Woodside hell-bent on profit while people and nature pay the price

    Source: Greenpeace Statement –

    SYDNEY/PERTH, Tuesday 25 February 2025 — Greenpeace Australia Pacific has condemned gas corporation Woodside’s annual earnings announcement today, saying its billion dollar profits come at the expense of Australian communities and nature on the frontlines of extreme weather disasters.

    The fossil fuel multinational reported AUD$3.57 billion in net profits after tax for 2024, a 115% year-on-year increase, as output rose to a record high.

    Joe Rafalowicz, Head of Climate and Energy at Greenpeace Australia Pacific, said: “With so many Australians struggling to pay for groceries or rent as the cost of living crisis rages on, it’s not right that fossil fuel corporations are raking in billions from destroying our planet. 

    “Communities across Australia are reeling from the extreme weather disasters unfolding every summer, which the Insurance Council estimates will cost $35.2 billion a year by 2050. It is immoral for fossil fuel corporations like Woodside to toast their profits today, while people on the frontlines are left to pick up the tab when floods or bushfires destroy their homes. 

    “As Ningaloo Reef suffers another mass coral bleaching, Woodside is hell-bent to ‘Drill Baby, Drill’ for even more polluting gas at neighbouring Scott Reef. We must not allow the nature we love to become another victim of the fossil fuel industry’s endless pursuit of profit.

    “The era of rampant corporate greed must end — it’s time for fossil fuel polluters to pay for the climate destruction they are unleashing on communities in Australia, the Pacific and around the world. We must hold polluters like Woodside accountable for their propaganda and for knowingly holding back climate action in this country.

    “Let’s invest in the proven climate solutions we have right now — renewable wind and solar energy backed by storage. Greenpeace will continue to advocate for clean, safe, affordable renewable energy that will reduce global emissions and ensure a livable planet for all.”

    Policies to make polluters pay are gaining momentum around the world, with governments including New York and Vermont introducing legislation forcing fossil fuel companies to pay for the climate destruction caused by their emissions. 

    -ENDS-

    For more information or interviews contact Kate O’Callaghan on 0406 231 892 or [email protected]

    MIL OSI NGO –

  • MIL-OSI Australia: Embedding the right to paid family and domestic violence leave in our workplaces

    Source: Ministers for Social Services

    Joint with:

    SENATOR THE HON KATY GALLAGHER
    MINISTER FOR FINANCE
    MINISTER FOR WOMEN
    MINISTER FOR THE PUBLIC SERVICE
    MINISTER FOR GOVERNMENT SERVICES
     

    THE HON AMANDA RISHWORTH MP
    MINISTER FOR SOCIAL SERVICES
    MINISTER FOR THE NATIONAL DISABILITY INSURANCE SCHEME

    SENATOR THE HON MURRAY WATT
    MINISTER FOR EMPLOYMENT AND WORKPLACE RELATIONS

    The Albanese Labor Government is reaffirming its commitment to end violence against women and children in one generation, today releasing the response to the independent review of the paid family and domestic violence leave.

    The independent review, conducted by Flinders University, found the leave was “life changing” for those who accessed it and that there was broad stakeholder support from both employers and unions.

    It found paid family and domestic violence leave is working as intended, supporting the financial security of those escaping or experiencing violence.

    The Government accepts all five recommendations from the review. Work is now underway to address the recommendations, including through:

    • Continued focus on raising awareness to integrate the leave as an ordinary workplace practice across Australian workplaces;
    • Tailored guidance for priority cohorts, such as First Nations, culturally and linguistically diverse and casual employees;
    • Training programs for first responders, health, allied health and community frontline workers who commonly interact with victim-survivors on the entitlement;
    • Additional strategies to improve awareness and access to the entitlement, opportunities to better understand usage of the leave, and further evaluation of the leave through the upcoming statutory review of Closing Loopholes reforms.

    The review also made 12 findings, the most notable, was there should be a focus on increasing awareness and understanding of the leave entitlement through communities and workplaces.

    It also found that ongoing stigma around family and domestic violence was a barrier to workers accessing the leave.

    Resources will be updated and repromoted to incorporate feedback from the review.

    The Government response highlights the important role that workplaces can play in addressing family and domestic violence. There is considerable goodwill from employees and employers alike to make sure anyone who needs the leave can access it, and the workplace is equipped to play its part in supporting people experiencing family and domestic violence.

    The Albanese Government will continue to engage with unions, employer groups, and state and territory governments on strategies to improve awareness and access to the leave.

    Paid family and domestic violence leave is just one of many actions the Albanese Government has taken to improve economic security for women and end gender-based violence.

    You can find the Government response and the review’s findings on the Department of Employment and Workplace Relations website.

    For more information on paid family and domestic violence leave, see the Fair Work Ombudsman’s guidance material and the one-stop shop hub for small business: www.10DayspaidFDVLeave.com

    Quotes attributable to Minister for Women Katy Gallagher:

    “Since coming to government, we have been deeply committed to ending gender-based violence – we were proud to introduce paid domestic and family violence leave as some of our first legislation, and the independent review has demonstrated its life changing impact.

    “The Opposition refused to implement this important change during their years in government, but the Albanese Government listened to the sector, unions and victim-survivors, and we can see the results – more women accessing important and life changing support.”

    Quotes attributable to Minister for Social Services Amanda Rishworth:

    “Paid family and domestic violence leave from work will save lives. This entitlement will allow victim-survivors to take time off to keep themselves and their family safe, without losing their income or their jobs.  

    “Everyone has a role to play to end violence against women and children. It’s vital to that first responders and frontline workers have the right training and education about paid family and domestic leave, so that they can best support victim-survivors of family and domestic violence.”

    Quotes attributable to Minister for Employment and Workplace Relations Murray Watt:    

    “No worker should have to choose between their safety and their pay. We’ve made sure all 12.4 million Australian employees, including casuals, can access 10 days’ paid leave each year when impacted by family and domestic violence.

    “This leave has been life changing for Australians so far, and the Albanese Labor Government is committed to raising awareness, understanding and uptake, so that anyone who would benefit from this leave can access it.

    “But it’s under threat from Peter Dutton and the Coalition – Shadow Minister for Employment and Workplace Relations, Michaelia Cash claimed paid family and domestic violence leave is a “perverse disincentive” to employers hiring women.

    “Peter Dutton and the Coalition need to tell Australians whether this leave will be part of the “targeted set of repeals” of workplace laws they’ve promised to take to the election.”

    MIL OSI News –

  • MIL-OSI USA: Senator Peters Introduces Bipartisan Legislation to Expand Access to Mental Health Care

    US Senate News:

    Source: United States Senator for Michigan Gary Peters

    WASHINGTON, DC – U.S. Senator Gary Peters (MI) introduced bipartisan legislation previously championed by former Michigan U.S. Senator Debbie Stabenow to expand access to mental health care in areas experiencing shortages of mental health professionals. The More Behavioral Health Providers Act – which Peters introduced with U.S. Senator Steve Daines (R-MT) – would expand the eligibility for health care professionals to receive bonus incentives from the Health Professional Shortage Area (HPSA) Physician Bonus Program to include physician assistants, nurse practitioners, mental health counselors, and other specialists who provide mental health or substance use disorder services in a Health Professional Shortage Area (HPSA). A HPSA is an area experiencing a shortage of primary care or mental health providers needed to adequately meet the needs of a community, specifically when the population to mental health provider ratio is at least 30,000 to 1. With an increasing number of Americans diagnosed with mental health disorders, this bipartisan legislation aims to incentivize health professionals to work in HPSAs to ensure all communities have access to mental health care.

    “I’m proud to carry this torch for my good friend and mentor, Debbie Stabenow, who throughout her career was a champion for expanding access to mental health care for folks in Michigan and across our country,” said Senator Peters. “This bipartisan bill will help ensure that no matter where you live, mental health care is an option for those who need it, while providing extra support to our health care professionals who deliver this essential care. With the demand for mental health support higher than ever before, I’m going to work to see this commonsense legislation passed into law.”

    Across Michigan, more than 355,000 adults suffer from a serious mental illness. Despite 1 in 7 Michiganders living with a mental health disorder, over 4.2 million Michigan residents live in an area experiencing a shortage of mental health professionals. In 2023, there were 257 mental health HPSAs designated across the state. According to the independent health research organization, KFF, Michigan requires about 144 additional psychiatrists in each shortage area to meet local mental health needs. This bipartisan bill would grow Michigan’s behavioral health care workforce and promote access to mental health services across the state.

    The More Behavioral Health Providers Act is supported by numerous key stakeholders including the American Association of Nurse Practitioners, the American Association of Physician Associates, American Psychological Association Services, and the National Association of Social Workers.

    “The American Association of Nurse Practitioners (AANP) is pleased to support the More Behavioral Health Providers Act, which will deliver critical financial support to nurse practitioners and other clinicians providing behavioral health and substance use disorder treatment in underserved communities,” said AANP President Dr. Stephen A. Ferrara, DNP. “We thank Senators Peters and Daines for their leadership on this bill to address clinician shortages and increase access to care for patients in need of these essential services.”

    “The American Academy of Physician Associates (AAPA) applauds Senator Daines (R-MT) and Senator Peters (D-MI) for taking action to address the heartbreaking shortage of mental health and substance use disorder providers in our communities by introducing the More Behavioral Health Providers Act.  PAs stand ready to work with Congress to help patients and their families receive the care, treatment, and ongoing support they need,” said AAPA CEO Lisa M. Gables, CPA.

    “We must do more to expand access to high-quality mental health care for Medicare’s growing patient population, particularly in rural and underserved areas where individuals are far less likely to receive care from mental health specialists compared to those in urban settings. Adequate reimbursement rates are essential to ensuring the participation of psychologists and other behavioral health providers in Medicare. APA Services strongly supports this bipartisan effort to invest in increasing access to mental health services for Medicare beneficiaries in rural America,” said Arthur C. Evans, Jr., PhD, Chief Executive Officer, American Psychological Association Services, Inc.

    “The National Association of Social Workers (NASW) applauds Sens. Gary Peters and Steve Daines for introducing the More Behavioral Providers Act, which will expand eligibility for the Health Professional Shortage Area (HPSA) Physician Bonus Program to clinical social workers and other providers of mental health and substance use disorder services. With our country’s continuing mental health and substance use epidemic, this legislation is meeting the moment by helping clinical social workers provide critical services to Medicare beneficiaries. Social workers stand ready, as always, to improve access to mental health and substance use services,” said Anthony Estreet, PhD, MBA, LCSW-C, Chief Executive Officer, NASW.

    MIL OSI USA News –

  • MIL-OSI: Dadachain Unveils Vision on February 20 with Whitepaper Release, Full Platform Launch on March 17

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, Feb. 24, 2025 (GLOBE NEWSWIRE) — Dadachain, a blockchain platform focused on Real World Asset (RWA) tokenization, is set to release its official whitepaper on February 20, outlining its vision, technology, and roadmap. The platform is scheduled for official launch on March 17, 2025, with its first RWA issuance featuring Starnex, a South Korean defense company.

    Bridging the Gap: Tokenization of Pre-IPO Companies

    Dadachain aims to provide a tokenization framework for Pre-IPO and CSE IPO-ready private companies, offering an alternative way to access liquidity and diversify investment opportunities. Traditionally, early-stage investments are primarily accessible to institutional investors. Dadachain seeks to broaden access to growth-stage companies through:

    • Potential Exposure to Growth-Stage Companies: Providing access to companies before they go public.
    • Tokenized Asset Evolution: Digital assets reflecting companies’ development toward potential IPOs on CSE or NASDAQ.
    • Expanded Market Participation: Enabling a wider range of participants to engage with private equity investments.

    Strategic Support from Columbia Capital

    A key partner in Dadachain’s ecosystem, Columbia Capital provides IPO consultancy services to help companies navigate the public listing process on the CSE. Their support includes:

    • IPO Strategy & Compliance Guidance
    • Market Positioning & Investor Outreach
    • Regulatory Filing & Post-IPO Support

    “By integrating tokenization with expert IPO consultancy, Dadachain and Columbia Capital aim to support high-growth companies in their development,” said Gabriel Lee, CMO of Dadachain.

    Ondo Finance vs. Dadachain: A Different Approach to RWA

    Ondo Finance tokenizes existing NASDAQ-listed stocks, offering digital access to established assets. Dadachain, in contrast, focuses on early-stage companies, allowing investors to engage with businesses before their public listing. “Our platform is designed to support companies in their growth journey by leveraging tokenization,” said Gabriel Lee.

    First RWA Issuance: Starnex Takes the Lead

    Dadachain’s first tokenized asset will be Starnex, a South Korean defense company. “We are excited to be the first company utilizing Dadachain’s tokenization framework,” said Sangrae Park, CEO of Starnex. “This collaboration offers an opportunity to explore new funding avenues and expand our business through digital finance solutions.”

    Future Plans: Additional RWA Issuances to Follow

    Dadachain plans to announce further RWA issuances for CSE IPO-ready companies. Updates will be shared via the official website and social media channels.

    Join the Future of Digital Finance: Dadachain’s platform launch on March 17 marks an expansion of blockchain applications in asset tokenization.

    For Media Inquiries

    Brand: Dadachain

    Contact: Media team

    Email: ask@dadachain.xyz

    Website: https://www.dadachain.xyz

    The MIL Network –

  • MIL-OSI United Kingdom: Professor Sir Ian Chapman appointed next CEO of UK Research and Innovation with renewed focus on economic growth

    Source: United Kingdom – Executive Government & Departments

    Press release

    Professor Sir Ian Chapman appointed next CEO of UK Research and Innovation with renewed focus on economic growth

    Sir Ian will lead the team at UKRI in backing thousands of researchers and innovators in developing solutions which improve people’s lives and help grow the economy

    Professor Sir Ian Chapman appointed as new UKRI CEO

    Professor Sir Ian Chapman will become the next CEO of UK Research and Innovation (UKRI), leading a refreshed mission that puts economic growth at the heart of public investment in R&D, helping to fulfil the potential of science and technology in improving lives, Science Minister Lord Vallance has announced today (Tuesday 25 February).

    UKRI is the country’s largest public research funder, with a budget of £9 billion per year, giving it a central role in ensuring public funding is invested in ambitious, pioneering research that will benefit the whole of the UK and provide a clear return on investment for hardworking taxpayers.

    Its work in recent years includes backing the Oxford-AstraZeneca Covid-19 vaccine, which has saved countless lives and the construction of the world’s most advanced wind turbine test facility, helping the UK to become a clean energy superpower. It has also been a major contributor to the £1 billion of UK public investment in AI R&D so far so the UK captures the technology’s opportunities to enhance growth and productivity as the third largest AI market in the world.

    Sir Ian will lead its team in supporting thousands of bright researchers and innovators in developing solutions from life-saving medicines to protecting our environment – ultimately making a visible, positive difference to people’s lives and supporting the missions at the heart of the Government’s Plan for Change.

    His experience will be a major asset in drawing on the UK’s world-leading research talent, facilities, universities and businesses, as drivers of R&D which will kickstart economic growth, make Britain a clean energy superpower and build an NHS fit for the future.

    During his time as CEO of the UK Atomic Energy Authority, Sir Ian has led the transition from an organisation rooted in deep R&D excellence, to one that is now also delivering a major infrastructure project to design and build a prototype powerplant; driving inward investment and economic growth; and enabling development of a skilled workforce and supply chain.

    Science Minister, Lord Vallance, said:

    “Growing the economy is this government’s number one mission and taking full advantage of the innovative ideas, talent and facilities across our country is key to reaching that goal and improving lives across the UK.

    “Sir Ian’s leadership experience, scientific expertise and academic achievements make him an exceptionally strong candidate to lead UKRI in pursuing ambitious, curiosity-driven research, as well as innovations that will unlock new benefits for the UK’s people and drive our Plan for Change.

    “We also thank Dame Ottoline Leyser ahead of her stepping down this summer, recognising her pivotal work in guiding UKRI through challenging times, notably during the Covid pandemic and through the UK’s return to participation in Horizon Europe.”

    Incoming UKRI CEO, Professor Sir Ian Chapman, said:

    “I am excited to be joining an excellent team at UKRI focussed on improving the lives and livelihoods of UK citizens.

    “Research and innovation must be central to the prosperity of our society and our economy, so UKRI can shape the future of the country.

    “I was tremendously fortunate to represent UKAEA, an organisation at the forefront of global research and innovation of fusion energy, and I look forward to building on those experiences to enable the wider UK research and innovation sector.”

    Through our world-class universities and institutes, UKRI develops and nurtures future talent who can maintain the UK’s position as a global hub of research, development and deployment in the long term while collaborating with partners around the world so that scientific and technological advances driven in the UK can benefit lives at home and around the world.

    UKRI plays a key part in driving up UK participation in the world’s largest research programme, Horizon Europe, helping to build a more efficient and joined-up approach to research funding and unleashing the power of UK research and innovation.

    UKRI will also play an increasing role in steering our long-term industrial strategy, removing barriers to growth and building on the UK’s strategic advantage in its fundamental science capability.

    UKRI Chairman, Sir Andrew Mackenzie, said:

    “The board and I are delighted that Ian will become UKRI’s next CEO in the summer. 

    “Research and Innovation are fundamental to UK growth. Ian has the skills, experience, leadership and commitment to unlock this opportunity to improve the lives and livelihoods of everyone. We look forward to working with him on the next phase of UKRI’s development and our stewardship of the UK’s innovation culture and systems.  

    “We thank Ottoline for an outstanding five years as UKRI’s CEO. She has delivered a step-change in operational effectiveness and cross-discipline work through collective and inclusive leadership and secured more social and commercial impacts from our investments.” 

    Climate Minister Kerry McCarthy said: 

    “I’d like to thank Sir Ian for his many years of dedicated service at UK Atomic Energy Agency, the last nine as CEO. In that time, he has transformed the organisation into a world leading hub for fusion energy commercialisation and driven the UK and global strategy for fusion development forward.

    “I am delighted that the UK will continue to benefit from his drive and expertise in his new role. We will shortly begin recruiting a new UKAEA CEO to lead the UK’s world-class fusion programme into the next decade.”

    Notes to editors

    • Established in 2018, UKRI is a non-departmental public body that combines the strengths of nine distinct research and innovation funders:

    • Arts and Humanities Research Council (AHRC)
    • Biotechnology and Biological Sciences Research Council (BBSRC)
    • Engineering and Physical Sciences Research Council (EPSRC)
    • Economic and Social Research Council (ESRC)
    • Innovate UK (IUK)
    • Medical Research Council (MRC)
    • Natural Environment Research Council (NERC)
    • Research England (RE)

    • Science and Technology Facilities Council (STFC)

    • Sir Ian – who currently sits on UKRI’s Board – will take up the post in the summer, bringing strong leadership experience from his role as CEO of the UK Atomic Energy Authority since 2016 and links to academia. He is a Fellow of the Royal Society, the Royal Academy of Engineering, and the Institute of Physics, and a visiting Professor at Durham University.
    • With a background in fusion and firm grasp of the part that ambitious and targeted R&D can play in improving lives, he has published over 100 journal papers and received several awards for his research.
    • His appointment follows an open recruitment process launched in August 2024, after Professor Dame Ottoline Leyser announced her intention to stand down as UKRI’s CEO from June 2025.
    • Having held the post since 2020, Dame Ottoline leaves a strong foundation to build on, from navigating the continued delivery of research through the pandemic to supporting the UK’s return to participation in Horizon Europe – putting UKRI in a strong position to bolster its role as an engine for delivering pioneering research to improve lives and grow our economy.
    • The UKAEA Board has provisionally agreed that Tim Bestwick (UKAEA deputy CEO) will take over as interim CEO of UKAEA after Sir Ian leaves, whilst a permanent replacement is appointed.

    Updates to this page

    Published 25 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK businesses lead the way with record numbers of female leaders

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK businesses lead the way with record numbers of female leaders

    FTSE Women Leaders Review and UK Government publish latest report on women in leadership roles at FTSE350 companies.

    • UK leads the world in drive to increase the number of women on boards and in leadership at the top of firms. 

    • More than 60% of FTSE350 companies within striking distance of the 40% target for women’s representation in boardrooms 

    • Supporting women into leadership roles could unlock billions in economic growth and deliver on Plan for Change 

    Top British companies are continuing to lead the way for gender equality in boardrooms with women occupying nearly 43% of roles on company boards according to a new report published today (Tuesday 25 February).  

    The FTSE Women Leaders Review report for 2025, backed by the government and sponsored by sector giants Lloyds Banking Group and KPMG LLP, shows that women now occupy 1,275 or 43% of roles on company boards and 6,743 (35%) of leadership roles at the 350 FTSE companies.  

    This marks a year-on-year increase and means the target of 40% women’s representation by the end of this year continues to be achieved by FTSE350 businesses. The results of this review show the progress being made to break down barriers to opportunity at the highest levels, within some of the most innovative and important companies in the UK.  

    Delivering equal opportunities for women is at the heart of the government’s growth mission as part of the Plan for Change, by ensuring they have fair access to a stable, well-paid jobs which will also help drive up living standards. 

    At a London event this evening, business leaders, ministers and the leaders of the Review will come together to reflect upon and celebrate this progress as well as the contribution it is making to creating a stronger, more dynamic economy.  

    But the government recognises there is still more to do to bring more women into roles such as company Chairs and CEOs and to increase the number of women on boards and in leadership who hold executive roles. The government will work with FTSE companies and other organisations to ensure that everyone has an equal opportunity to achieve their full potential based on their talent.   

    Chancellor of the Exchequer Rachel Reeves said: 

    The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels.  

    We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain.

    Minister for Investment Baroness Gustafsson OBE said: 

    I know from founding my own business how strong female voices inspire positive change throughout an organisation, bringing new ideas and adding greater value. 

    Today’s report shows that whilst the momentum is with us, we have so much further to go. Working with business leaders and investors, we will do everything we can to unlock more opportunities for women at the highest levels as we go for growth and deliver our Plan for Change.  

    The UK’s approach to gender equality in boardrooms is setting an international precedent for inclusive business, coming second only to France in the G7, with 43.4% representation compared to 45.4%.  

    Whilst France and many other countries employ the use of quotas, the action taken by British companies has been entirely voluntary demonstrating the ability of the private sector to lead the way, alongside government support, but without overburdening regulation. 

    By leading the way and committing to improving gender equality companies are demonstrating the market value of increased representation of women in senior roles and the diversity of thinking that this brings, trickling down into small and medium sized businesses who look to replicate this success. 

    The government’s flagship Employment Rights Bill and Plan to Make Work Pay will further strengthen women’s rights in the workplace and increase protections for women going through the menopause, as well as protections from dismissal whilst pregnant or on maternity leave. 

    Vivienne Artz, CEO of the FTSE Women Leaders Review, said: 

    In an increasingly disruptive world in which companies are faced with a combination of economic, geo-political and technological change British businesses are setting an international standard for balanced and inclusive leadership.  

    With its unique Government-backed and business-led voluntary approach, the UK has spearheaded a world-leading transformation in the highest ranks of industry. Whilst FTSE 350 company boards are now gender-balanced, sustained effort and determination is required to achieve the 40% target for women in leadership by the end of this year.  

    We look forward to working with businesses to deliver on this ambition.

    Penny James and Nimesh Patel, Co-Chairs of the FTSE Women Leaders Review, said: 

    The UK is nothing short of world-leading in driving gender balance at the top of business with business leaders delivering change through voluntary action rather than quotas. Despite many competing priorities companies continue to see equality of opportunity as key to improving productivity and achieving growth.  

    Balance on FTSE 350 boards has been achieved and women’s representation on executive teams is steadily increasing but a step-up in commitment is required to deliver parity in the key leadership roles.  

    Over the coming year we urge UK business to remain focused on sustaining momentum, harnessing all of the available talent and driving towards a business environment that offers opportunity for all. 

    NOTES TO EDITORS:  

    • The FTSE Women Leaders Review (the Review) is sponsored by Lloyds Banking Group and KPMG LLP.  

    Sir Robin Budenberg, Chair of Lloyds Banking Group, said: 

    As proud co-sponsor of the FTSE Women Leaders Review, we applaud the significant progress made over the years in increasing gender balance on both the boards and leadership teams of the UK’s biggest companies.  

    A strong, diverse workforce is fundamental to business success. When leadership reflects the society it serves, companies are better equipped to understand their customers, drive innovation and deliver long-term sustainable growth. And if business does not employ the full breadth of society, it will not benefit from all the talent available.  

    At Lloyds Banking Group we have a gender-balanced board and over 45% representation of women at leadership level but we recognise that progress is neither linear nor inevitable. The responsibility lies with all of us to lead inclusively and to keep gender equality at the top of the agenda. By doing so, we strengthen our businesses and help build a more dynamic, successful economy. 

    Bina Mehta, Chair of KPMG LLP, said: 

    With the final year of the FTSE Women Leaders Review ahead, I’m delighted we have continued to make substantial progress in achieving greater gender balance in senior roles, something that reflects many years of voluntary effort and collective action.  

    It’s particularly encouraging to see the progress made by the UK’s Top 50 Private companies in their first three years of reporting. These companies are keeping pace with the FTSE100 and are currently reporting 35% of Executive Committee roles are held by women.  

    As Chair of KPMG UK, I am proud that our firm continues to grow the number of women in leadership roles, maintaining our position in the ‘Top Ten Best Performers’. As a firm we recognise the importance of creating an environment where everyone can succeed and thrive.  

    With the country’s renewed focused on economic growth, if businesses continue to work together, we can help to deliver long term prosperous and sustainable growth.

    The Review 

    The FTSE Women Leaders Review is the independent, business-led framework supported by the Government, which sets recommendations for Britain’s biggest companies to improve the representation of women on their boards and leadership teams. The scope of the Review covers the FTSE 350 and 50 of the UK’s biggest private companies.  

    Adopting a voluntary approach, the Review captures and publishes progress on 26,000 roles on boards and in leadership two layers below the board, across all sectors of British business on an annual basis.  

    Women on Boards: 2024  

    1. Reported numbers for Women on Boards of FTSE 350, as of 10th January 2025, show: 

    Source – BoardEx: 

    • FTSE 100 is at 44.7%, up from 42.6% in 2023  

    • FTSE 250 is at 42.6%, up from 41.8% in 2023 

    • FTSE 350 is at 43.4.%, up from 42.1% in 2023  

    • 50 largest UK private companies are at 30.5% (30.6% in 2023) 

    1. Almost three quarters of FTSE 350 Boards (73.4%) have met or exceeded the current 40% target with that number now standing at 257 up from 235 in 2023. 

    2. The UK FTSE 350 is in 2nd place when compared internationally to the G7 countries but this is being achieved at a greater scale and through entirely voluntary action as opposed to mandatory quota systems. In the UK 350 companies are in scope compared with 40 in France which has quota legislation in place.  

    3. FTSE 100 companies top the rankings for women on boards compared with international indices including the Euronext 100, IBEX and S&P ASK FTSE 100: 44.7% v Euronext 100: 42.2%, IBEX: 40.9% S&P ASX: 40.2% 

    Women in Leadership: 2024  

    1. Reported numbers for Women in Leadership (defined as the Executive Committee & Direct Reports to the Executive Committee on a combined basis) show:  

    Source – FTSE Women Leaders, Leadership Data Collection Portal as at 31 October 2024: 

    • FTSE 100 is at 36.6% up from 35.2% in 2023 

    • FTSE 250 is at 34.2% up from 33.9% in 2023 

    • FTSE 350 is at 35.3% up from in 34.5% in 2023 

    • 50 largest UK private companies are at 36.8% up from 35.6% in 2023 

    Four Key Roles: 2024  

    1.   Women continue to be appointed to the Chair role with a gain of seven FTSE 350 women Chairs in 2024. As a result, the number of women in the Chair role in the FTSE 350 has increased from to 53 in 2023 to 60 in 2024 (17%).  

    2.   The number of women SIDs has increased to 192 across the FTSE 350 in 2024, up from 162 in 2023. Now over half of FTSE 350 companies (56%) have a woman SID. 

    3.   The percentage of women Finance Directors in the FTSE 350 has increased from 48 in 2023 to 57 in 2024 (22%). 

    4.   FTSE 350 women CEOs have reduced from 20 in 2023 to 19 in 2024. 

    The Recommendations for the Review  

    There are four Recommendations that were announced in February 2022 to fuel further progress in delivering gender balance at the top of British business: 

    • The voluntary target for FTSE 350 Boards and Leadership teams was increased to a minimum of 40% women’s representation by the end of 2025. 

    • Companies should have at least one woman in the Chair, Senior Independent Director role on the board and/or one woman in the Chief Executive Officer or Finance Director role by the end of 2025. 

    • Key stakeholders should continue to set best-practice guidelines or use alternative mechanisms to encourage any FTSE 350 Board that has not yet achieved the previous 33% target for the end of 2020, to do so.  

    • The scope of the Review is extended beyond FTSE 350 companies to include 50 of the UK’s largest private companies.

    Updates to this page

    Published 25 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: £120 million to roll-out more electric vans, taxis and motorbikes

    Source: United Kingdom – Executive Government & Departments

    Press release

    £120 million to roll-out more electric vans, taxis and motorbikes

    We are making it easier, faster and cheaper for people across the UK to switch to electric vehicles.

    • government extends support to help drivers, businesses, fleets and cabbies make the switch to cleaner vehicles
    • red tape blocking businesses from switching to zero emission vans to be cut
    • part of £2.3 billion to help make a supported transition to zero emissions vehicles, creating jobs and delivering the Plan for Change

    Drivers, cabbies and businesses are set to benefit from £120 million in government funding to make the switch to cleaner vans, wheelchair accessible vehicles and taxis easier, faster and cheaper.

    Today (25 February 2025) Future of Roads Minister Lilian Greenwood confirmed that the department is extending the Plug-in van grant for another year, to help van drivers and businesses transition to zero emission vehicles.

    The extension will mean businesses and van drivers can receive grants up to £2,500 when buying small vans up to 2.5 tonnes and up to £5,000 for larger vans up to 4.25 tonnes.

    The Plug-in van grant has helped sell over 80,000 electric and zero emission vans since its launch, as the government continues to back businesses all over the country.

    The department is also making it easier to switch to zero emission vans – which can be heavier than their petrol and diesel counterparts despite being of the same size – by removing the requirement for additional training that is currently in place only for zero emission vans but not their petrol and diesel equivalents.

    This will help businesses by taking away training costs, cutting red tape and making it easier to hire drivers when operating electric vans.

    Today’s funding is part of over £2.3 billion to help industry and consumers make a supported switch to electric vehicles (EVs). This is creating high paid jobs, supporting businesses up and down the country and tapping into a multi-billion pound industry to make the UK a clean energy superpower and deliver the government’s Plan for Change.

    Future of Roads Minister, Lilian Greenwood, said:

    From van drivers and businesses, to drivers with accessibility needs, bikers and cabbies, today we are making it easier, faster and cheaper for people to switch to electric vehicles.

    By making the transition to zero emissions a success, we’re helping to drive growth all over the UK, putting more money in people’s pockets and rebuilding Britain to deliver our Plan for Change.

    The department is also supporting taxi drivers make the switch to electric for another year, by making £4,000 available to buy an iconic zero emission black cab amongst other models, making journeys cleaner and more comfortable for passengers.

    The Plug-in wheelchair accessible vehicle grant cap is also being increased from £35,000 to £50,000, giving consumers a wider choice of vehicle models and removing barriers for disabled passengers, so that they can get around more easily and with greater peace of mind.

    Today is a positive day for bikers as well, who will continue to enjoy a £500 grant from government to buy an electric motorbike for another year.

    Alongside this financial support, the government strengthened incentives to purchase zero emission vehicles in the Autumn Budget 2024 by maintaining generous ZEV incentives in the Company Car Tax regime.

    The transition to electric continues at pace. With over 382,000 electric cars sold in 2024 – up a fifth on the previous year – there’s never been a better time to switch to EVs, with one in 3 used electric cars under £20,000 and 21 brand new electric cars RRP under £30,000.

    Owning an electric car is also becoming increasingly cheaper, with drivers able to save up to £750 a year if they mostly charge at home compared to petrol.

    There are now over 74,000 public chargers in the UK, with a record of nearly 20,000 added last year alone. With 24/7 helplines, contactless payments, and up-to-date chargepoint locations, charging has become easier than ever.

    With £200 million announced in the budget to continue powering the chargepoint rollout and £6 billion of private investment in the pipeline, the UK’s charging network will continue to see tens of thousands of chargers added in the coming years so that EV owners can drive with the confidence that they’re never too far from a socket.

    Last year saw record numbers of people making a supported switch to electric vehicles, with the UK leading Europe in sales, and growth of more than a fifth on the previous year. The government has been engaging closely with car manufacturers on how to support them to deliver the transition to electric vehicles with a consultation recently closing, which sought views from industry on how to deliver the manifesto commitment to restore the 2030 phase out date for new purely petrol and diesel cars.

    The average range of a new electric car is now 236 miles – that’s about 2 weeks of driving for most people – all the while emitting just one-third of the greenhouse emissions of a petrol car during its lifetime.

    Roads media enquiries

    Media enquiries 0300 7777 878

    Switchboard 0300 330 3000

    Updates to this page

    Published 25 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Emergency homelessness fund boosted to £60 million

    Source: United Kingdom – Government Statements

    News story

    Emergency homelessness fund boosted to £60 million

    An extra £30 million has been confirmed for the Winter Pressures Funding this year.

    • Urgent homelessness funding, previously tripled, has now been increased sixfold for this year to reach more people
    • Extra cash boost will see thousands of struggling people avoid homelessness, with councils stepping in early to help prevent evictions and secure accommodation
    • Builds on the government’s Plan for Change to deliver the biggest increase in tenant protections and affordable housing in decades, ensuring safe and secure housing for all

    Thousands on the brink of homelessness will receive lifechanging support to remain in their homes, thanks to new emergency funding of £30 million for homelessness services announced today. 

    Today’s funding is targeted at 295 areas that are facing the highest risks of homelessness through housing costs and rent arrears. The cash will be specifically given to councils to step in early and keep people in their homes before eviction notices are served, or support people off the streets into accommodation – a lifeline for thousands to regain financial stability, stay in their communities and maintain access to local GPs and support networks. 

    For councils, this emergency funding means fewer people reaching crisis point and ending up on the streets which will free up resources and ease demand on social services, healthcare, and emergency housing teams. 

    Last year alone, 146,360 households turned to their council for help, with many on the brink of eviction through no fault of their own, whether from a sudden job loss, a health emergency, an unexpected bill, or a relationship breakdown.  

    It brings the total Winter Pressures Funding for homelessness and rough sleeping to £60 million this year, with this extra £30 million to bolster resources at councils to act fast when negotiating with landlords, covering emergency rent shortfalls, and making sure people can get on with living their lives in safe and secure housing. This builds on the largest-ever investment in homelessness prevention services of almost £1 billion.

    Minister for Homelessness, Rushanara Ali said:

    “No one should be forced live in constant fear of losing their home and too many people are being pushed to the brink of homelessness as a direct consequence of the system we’ve inherited. 

    “That’s why I’m providing an extra £30 million in emergency support for councils– taking real, immediate action to stop people falling through the cracks, stay in their homes, and help them rebuild their lives. 

    “Our Plan for Change is tackling the worst housing crisis in a generation by delivering the biggest boost in social and affordable housing in a generation, fixing the broken rental market and getting us back on track to end homelessness once and for all.”

    The Deputy Prime Minister has personally directed the Ministry of Housing to prioritise remaining departmental funds towards homelessness support. This comes as her dedicated Inter-Ministerial Group is developing a long-term strategy – with ministers across government – to tackle the root causes of rough sleeping and get the country back on track to ending homelessness for good.

    This comes as the government’s landmark Renters’ Rights Bill remains on track to become law this year that will abolish one of the leading causes of homelessness, Section 21 ‘no fault’ evictions. This is alongside stopping rental bidding wars for tenancies and empowering tenants to challenge unreasonable rent increases, providing much-needed stability for millions of working people and families.

    Today’s emergency cash injection is just one branch of the government’s Plan for Change to raise living standards for working people and families, strengthen rights and protections for tenants, and drive forward the biggest overhaul of the private rented sector in over 30 years.

    The government recently announced a further £20 million to ensure rough sleepers have a safe, warm place to stay with hot meals and specialist care. This is on top of the £10 million announced before Christmas, providing additional resources for emergency accommodation and targeted interventions aimed at getting people off the streets and into stable housing.

    As part of long-overdue reforms to the Right to Buy scheme, councils can now keep all receipts from sales to invest in building and buying more homes. On top of this, councils received an additional £450 million last year to secure and create housing for families at risk of homelessness. 

    Government investment in housing has now increased to £5 billion for this year, including a top-up of £800 million for the existing Affordable Homes Programme, which is supporting efforts to build tens of thousands of affordable and social homes across the country.

    Further information

    Last year, the government launched an emergency £10 million package for rough sleepers, with a further £20 million in January.

    A full breakdown of funding allocations for each council is available here.

    Updates to this page

    Published 25 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Ongoing Liquidity Crisis Hindering United Nations Ability to Retain Geographically Diverse, Skilled Workforce, Delegates Stress as Fifth Committee Resumes Session

    Source: United Nations General Assembly and Security Council

    Stressing that the Organization’s key asset is its staff, many delegates of the Fifth Committee (Administrative and Budgetary) today emphasized the pressure that the ongoing liquidity crisis is having on efforts to rejuvenate the Organization and attract and retain talent from all parts of the world.

    “The human resources policies and the liquidity situation of the United Nations are inextricably linked,” said Singapore’s representative, speaking for the Association of Southeast Asian Nations (ASEAN) during the opening day of the Committee first resumed session.  “We note with concern from the Secretary-General’s report that temporary hiring restrictions imposed as a result of the dismal liquidity situation of the UN have constrained efforts to fill geographical posts that could have gone to un- and under-represented countries.”

    She emphasized that staff training and development are key to building a United Nations that can respond to contemporary challenges.  “While we are cognizant of the UN’s ongoing liquidity challenges, we hope that their training is not compromised to achieve short-term savings,” she said, adding that training locations should not be limited to UN Headquarters.

    Echoing this sentiment, the representative of the European Union, in its capacity as observer, said the Organization’s financial situation must be carefully considered when discussing the Organization’s most essential resources: its staff.  “We strongly believe in the fundamental importance of a comprehensive and strategic workforce planning system,” she said, adding that planning and selection should be closely aligned with a recruitment process that ensures the Organization attracts and hires the most suitable candidates with the right skill sets.  In addition, the 120-day target for staff selection should be met.  “We repeat our call to rejuvenate the Organization and acquire and retain young talent,” she said, adding that talent outreach and well-structured internship programmes are key priorities that “we take very seriously”.

    Speaking on behalf of the Group of 77 and China, Iraq’s delegate said geographical representation and gender parity remain a core concern for the Group, which expects the Secretariat to intensify its efforts to achieve equal representation at all staff levels, with a focus on senior level staff at D-1 and above posts, as well as significant contributions from troop-contributing countries and police-contributing countries.  He noted that the Secretary-General’s staff composition report showed that staff declined by 34 to 36,757 during the reporting period ending on December 2023, due in part to temporary hiring restrictions placed against the regular budget in July 2023. 

    Keen to review the Secretariat’s efforts to improve the Organizaton’s rejuvenation, including through the Young Professionals Programme, the Group notes that during the 2022-2023 biennium, 175,781 applications applied for 2,765 jobs in the internship programme.  “With an average of 63 applicants competing for one vacancy, the Group looks forward to having more information on how the refined internship programme, including the financial support from the UN, will help more applicants from all developing countries be successfully selected as interns,” he added.

    Kuwait’s delegate, speaking on behalf of the Gulf Cooperation Council, agreed that the Organizaton’s staff are its greatest asset and noted that data from Secretariat reports indicate that personnel from the Gulf Cooperation Council countries remain underrepresented.  “Recruiting must be completed to ensure a balance,” he said. Recognizing the unprecedented loss of staff working with the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), he called for the protection of staff and all relief workers.

    The President of the UN Field Staff Union said the Organizaton’s severe liquidity and funding shortfall has created a crisis that threatens the foundation of the staff’s work.  “UN staff — who are the backbone of this institution — are being forced to bear the brunt of these financial constraints.  Workloads are increasing beyond sustainable levels,” he said, urging Member States to meet their financial commitments fully and on time.  “The cost of inaction is measured in human lives.  If we allow this crisis to continue, we are not just failing UN staff; we are failing the world.

    “Fewer staff means fewer peacekeepers in conflict zones, fewer aid workers delivering food and medicine, fewer experts tackling global challenges.  Every member of staff lost weakens our ability to respond to the world’s most pressing crises.  Let me be clear — this is not just about jobs.  It is about the UN’s ability to fulfill its mission,” he said.

    The representative of Switzerland, speaking also for Liechtenstein, welcomed Secretariat efforts to improve mechanisms for recruiting young professionals, including modernizing job descriptions, removing artificial barriers to entry and enhancing digital and language skills.  She also backed the Secretary-General’s proposal to structure and professionalize the UN internship programme.  “We note with interest the recommendations to introduce financial support for interns to strengthen geographical diversity and to offer more structured learning,” she added.

    The representative of the United States said Washington, D.C., will consider proposals using three criteria:  whether the proposal promotes a transparent and accountable system; reflects actual or proposed cost-savings and efficiencies; and how it aligns with his Government’s national interests and priorities, including “making the US safer, stronger and more prosperous”.  To this end, the delegation will defend against efforts to undermine the system of desirable ranges by advancing a vague, discriminatory and deeply flawed concept of equitable geographic representation. 

    Human Resources Management

    Martha Helena Lopez, Assistant Secretary-General for Human Resources, presented the Secretary-General’s five reports on human resources management reform:  Overview of human resources management reform for the period 2023–2024 (document A/79/566); Review of the United Nations Secretariat Internship Programme (document A/79/566/Add.1); Composition of the Secretariat: staff demographics (document A/79/584); Composition of the Secretariat: gratis personnel, retired staff, consultants, individual contractors and United Nations Volunteers (document A/79/581); and Practice of the Secretary-General in disciplinary matters and cases of possible criminal behaviour, from 1 January to 31 December 2023 (document A/79/615).

    Regarding the redesigned internship programme, she said “it aligns with UN values of fairness and accessibility, upholds commitments to youth in the Pact for the Future, and ensures meaningful engagement of young people.”  The proposal addresses the need for more structured learning and financial support for interns, including the cost of travel, health insurance, a monthly stipend and a technology allowance for remote interns.  “This would remove a significant barrier to broader participation for individuals from all economic backgrounds,” she added.  The Secretariat invites the Assembly to approve the removal of current restrictions and the principle of a centrally funded support scheme.

    The Secretary-General report covering staff demographics offers a comprehensive view of Secretariat staff from 1 January to 31 December 2023 and during the 2019 to 2023 period, she noted.  It gives a comprehensive analysis of the gratis personnel, retired staff, consultants, individual contractors, and United Nations Volunteers engaged across the Secretariat from 1 January 2022 to 31 December 2023 and highlights trends observed from 2014 to 2023, offering insights into the evolution of the Secretariat’s affiliated personnel.  The final report provides comprehensive measures for the Secretary-General’s approach to misconduct cases and analysis of the data and trends in the Secretariat’s disciplinary practices.

    Juliana Gaspar Ruas, Chair of the Advisory Committee on Administrative and Budgetary Questions (ACABQ), presented that body’s related reports (documents A/79/745, A/79/746, A/79/747, A/79/748 and A/79/749).

    After those presentations, Fifth Committee Vice-Chair Johanna Bischof (Austria) drew delegates’ attention to the relevant reports of the Joint Inspection Unit and related notes by the Secretary-General transmitting his comments and comments of the United Nations Chief Executives Board for Coordination on the respective reports: Review of the use of non-staff personnel and related contractual modalities in the United Nations system organizations – Note by the Secretary-General (documents A/79/694 and A/79/694/Add.1); Review of the quality, effectiveness, efficiency and sustainability of health insurance schemes in the United Nations system organizations (documents A/79/695 and A/79/695/Add.1); and Flexible working arrangements in United Nations system organizations (documents A/79/693 and A/79/693/Add.1).

    Joint Inspection Unit

    Carolina Fernández Opazo, Inspector and Chairperson of the Joint Inspection Unit, introduced the Report of the Joint Inspection Unit for 2024 and programme of work for 2025 (document A/79/34), and Federica Pietracci, Senior Programme Management Officer of the United Nations System Chief Executives Board for Coordination, introduced the Note by the Secretary-General on the Report of the Joint Inspection Unit for 2024 (document A/79/742).

    Standards of Accommodation for Air Travel

    Ms. Lopez also introduced the Secretary-General’s report on standards of accommodation for air travel (document A/79/628), and Ms. Gaspar Ruas presented the Advisory Committee’s related report (document A/79/7/Add.44).

    Proposed Programme of Work 

    The Committee also approved its proposed programme of work for this session (document A/C.5/79/L.29).

    MIL OSI United Nations News –

  • MIL-OSI Australia: Helping women in Dubbo leave violent relationships

    Source: Ministers for Social Services

    The Albanese Labor Government is supporting women and children living in Dubbo to leave violent intimate partner relationships.

    Bunmabunmarra Service Pty Ltd will receive $6.3 million to deliver culturally safe programs to support victim-survivors of intimate partner violence in the regional NSW area.

    This is one of three place-based trials commencing from 1 July – part of the next stage of the $925 million Leaving Violence Program.

    The Government is investing $22.35 million in trials in Dubbo, Broome in Western Australia and Darwin in the Northern Territory, to provide tailored, trauma-informed support to victim-survivors.

    Bunmabunmarra Service Pty Ltd will also support victim-survivors to access the Leaving Violence Program.

    Under the Leaving Violence Program, eligible victim-survivors receive financial support of up to $5,000, including up to $1,500 in cash and the remainder in goods and services. Supports include safety planning, risk assessment and referrals to other essential services for up to 12 weeks. The national program is expected to support over 36,000 victim-survivors a year.

    Minister for Social Services Amanda Rishworth said financial barriers can be a huge impediment to victim-survivors breaking free of a violent relationship.

    “The Albanese Labor Government is absolutely committed to ending family, domestic and sexual violence in a generation. We want people to know if they need to leave, they can afford to go,” Minster Rishworth said.

    “These regional trials will provide a financial and practical lifeline for people experiencing intimate partner violence in regional Australia, helping them break free from abusive relationships and build a life free from violence.”

    Assistant Minister for Social Security and Women Kate Thwaites said people experiencing violence would have access to culturally safe programs through the trials.

    “It’s important for anyone experiencing intimate partner violence to have a range of options to choose from when seeking support.

    “Increasing the access and choices for this program will help more people experiencing violence, particularly Aboriginal and Torres Strait Islander people, to receive support and to leave violent intimate partner relationships.”

    Intimate partner violence is a problem of epidemic proportions in Australia, with a quarter of all Australian women having experienced it in their lifetime.

    The Leaving Violence Program helps support the aims of the National Plan to End Violence against Women and Children 2022-32 to end violence in one generation, and forms part of the Albanese Government’s $4 billion investment in women’s safety since 2022.

    More than 78,000 victim-survivors have accessed the EVP payment since 2021. Over 70 per cent of those accessing the support were self-referrals meaning without this program they may have fallen through the cracks of the support system.

    More information on the Leaving Violence Program is available on the Department of Social Services website.

    If you or someone you know is experiencing, or at risk of experiencing, domestic, family or sexual violence, call 1800RESPECT on 1800 737 732, chat online via www.1800RESPECT.org.au, or text 0458 737 732.

    If you are concerned about your behaviour or use of violence, you can contact the Men’s Referral Service on 1300 766 491 or visit http://www.ntv.org.au

    Feeling worried or no good? No shame, no judgement, safe place to yarn. Speak to a 13YARN Crisis Supporter, call 13 92 76. This service is available 24 hours a day, 7 days a week.

    MIL OSI News –

  • MIL-OSI USA: Shaheen, Hassan Host Roundtable Discussion Highlighting Harmful Impact of Potential Republican Cuts to Medicaid

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Manchester, NH) – Today, U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) hosted a roundtable discussion highlighting the harmful impact of potential Republican cuts to Medicaid. This event comes after Democrats held the floor last week to push back against the Republican-led budget resolution that would pave the way for tax breaks for the wealthiest while slashing programs like Medicaid to pay for it. At the event, Senator Hassan, Ranking Member of the Joint Economic Committee, shared a new Joint Economic Committee analysis showing the impact that Medicaid cuts would have on Granite Staters including the fight to combat the opioid epidemic. Photos from the discussion can be found here. 
    “One in seven Granite Staters rely on Medicaid for their health insurance, and gutting the program would have devastating consequences for families, children, seniors, people that live with disabilities and more,” said Senator Shaheen. “We know that despite what President Trump may say about not touching this program, Republicans in Congress have made it clear that Medicaid is on the chopping block. That would cause real harm in our state and across the country. I’ll continue pursuing every avenue available to protect Medicaid and prevent health care costs from rising.” 
    “Medicaid helps strengthen our economy, our workforce, and the health of our families and our children,” said Senator Hassan. “The plan put forward by President Trump and Congressional Republicans will drastically cut Medicaid in order to pay for tax cuts for billionaires and special interests. It will have serious and severe consequences for people across New Hampshire and will prevent children and families from getting the health care that they need to thrive.”
    The discussion brought together Granite State health care professionals, Medicaid recipients, activists and elected officials. In addition to Shaheen and Hassan, roundtable participants included Jonathan Routhier, The Mental Health Center of Greater Manchester, Steve Ahnen, New Hampshire Hospital Association, Tess Kuenning, Bi-State, Ken Gordon, CEO, Coos Family Health, Jake Berry, New Futures, Maureen Beauregard, Easterseals, Katie Phillips, Able NH, Shawn Cannizzarro, Hope2Freedom Recovery, Carrie and Katie Duran, Medicaid recipients, Maggie Pritchard, CEO, Lakes Region Mental Health Center, Jay Couture, CEO, Seacoast Mental Health Center and Rep. Laura Telerski, NH Deputy House Democratic Leader.  
    Last week, the majority of Senate Republicans worked to block several amendments Shaheen offered that would have helped make health care more affordable and accessible, including an amendment that mirrors her Health Care Affordability Act—bicameral legislation she introduced last month that would make permanent the Affordable Care Act’s premium tax credits for Marketplace coverage. According to the Congressional Budget Office, if the tax credits are allowed to expire at the end of this year, health care premiums would skyrocket and 4 million Americans would lose their health insurance altogether.   

    MIL OSI USA News –

  • MIL-OSI: Archrock Reports Fourth Quarter and Full Year 2024 Results and Provides 2025 Guidance

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 24, 2025 (GLOBE NEWSWIRE) — Archrock, Inc. (NYSE: AROC) (“Archrock”) today reported results for the fourth quarter and full year 2024.

    Fourth Quarter and Full Year 2024 Highlights

    • Revenue for the fourth quarter of 2024 was $326.4 million compared to $259.6 million in the fourth quarter of 2023. Revenue for 2024 was $1,157.6 million compared to $990.3 million in 2023.
    • Net income for the fourth quarter of 2024 was $59.8 million and EPS was $0.34, compared to $33.0 million and $0.21, respectively, in the fourth quarter of 2023. Net income for 2024 was $172.2 million and EPS was $1.05, compared to $105.0 million and $0.67, respectively, in 2023.
    • Adjusted net income (a non-GAAP measure defined below) for the fourth quarter of 2024 was $61.5 million and adjusted EPS (a non-GAAP measure defined below) was $0.35, compared to $33.0 million and $0.21, respectively, in the fourth quarter of 2023. Adjusted net income for 2024 was $185.2 million and adjusted EPS was $1.13 compared to $105.0 million and $0.67, respectively, in 2023.
    • Adjusted EBITDA (a non-GAAP measure defined below) for the fourth quarter of 2024 was $183.8 million compared to $120.3 million in the fourth quarter of 2023. Adjusted EBITDA for 2024 was $595.4 million compared to $450.4 million in 2023.
    • Declared a quarterly dividend of $0.19 per common share for the fourth quarter of 2024, approximately 15% higher compared to the fourth quarter of 2023, resulting in dividend coverage of 3.5x.

    Management Commentary and Outlook

    “Archrock’s outstanding fourth quarter performance rounded out a record-setting year of robust utilization and profitability,” said Brad Childers, Archrock’s President and Chief Executive Officer. “For 2024, we increased our contract operations adjusted gross margin by 500 basis points, improved our net income by over 60% and grew our adjusted EBITDA by more than 30% year over year. We maintained a prudent balance sheet, ending the year with a leverage ratio of 3.3x, and returned $124 million in capital to our shareholders through dividends and share buybacks. We achieved these milestones while concurrently completing a transformative acquisition that established our leadership position in electric motor drive compression. 

    “We are even more excited about what we are positioned to deliver in 2025. Archrock continues to perform at an exceptional level, reflecting consistent operational execution and the successful progression of our strategic initiatives. Our investment in high-quality assets, excellent customer service and implementation of innovative technology and processes are driving value for our customers and our shareholders.

    “Moreover, we see the market opportunities provided by rising energy demand, and in particular, the natural gas required to support growing LNG exports and power generation, continuing into the foreseeable future. With sustained high utilization levels and a large and contracted backlog for 2025, we are booking units for 2026 delivery and believe we will continue to see strong customer demand for new equipment well into next year.

    “This impressive and durable investment outlook for Archrock is further underpinned by our financial flexibility and returns-based capital allocation. We are investing in profitable, high-return growth in large midstream and electric motor drive compression to support our high-quality customers in premier, primarily associated gas, plays like the Permian.  We also remain committed to consistent growth in shareholder returns and started the year with a 15% year-over-year increase to our quarterly dividend per share, while maintaining prudent dividend coverage and leverage ratios,” concluded Childers.

    Fourth Quarter and Full Year 2024 Financial Results

    Archrock’s fourth quarter 2024 net income of $59.8 million included a non-cash long-lived and other asset impairment of $1.2 million, transaction-related costs totaling $2.2 million and a non-cash unrealized decrease in the fair value of our investment in an unconsolidated affiliate of $1.5 million. Archrock’s fourth quarter 2023 net income of $33.0 million included a non-cash long-lived and other asset impairment of $3.7 million and a non-cash unrealized increase in the fair value of our investment in an unconsolidated affiliate of $1.0 million.

    Fourth quarter 2024 selling, general, and administrative expenses of $42.2 million compared to $33.0 million for the fourth quarter of 2023 primarily reflect the increase in stock price throughout the year, which drove higher long-term incentive compensation, as well as other increases in performance-based short-term and long-term incentive compensation expense given the outperformance relative to earlier expectations in 2024.

    Adjusted EBITDA for the fourth quarter of 2024 and 2023 included $12.7 million and $2.2 million, respectively, in net gains related to the sale of compression and other assets.

    Archrock’s full year 2024 net income of $172.2 million included the following items: transaction-related costs totaling $13.2 million, a non-cash long-lived and other asset impairment of $10.7 million, a debt extinguishment loss of $3.2 million, and a non-cash unrealized decrease in the fair value of our investment in an unconsolidated affiliate of $1.5 million. Archrock’s full year 2023 net income of $105.0 million included the following items: a non-cash long-lived and other asset impairment of $12.0 million, restructuring charges of $1.8 million and a non-cash unrealized decrease in the fair value of our investment in an unconsolidated affiliate of $1.0 million.

    Adjusted EBITDA for the full year 2024 and 2023 included $17.9 million and $10.2 million, respectively, in net gains related to the sale of compression and other assets.

    Contract Operations

    For the fourth quarter of 2024, contract operations segment revenue totaled $286.5 million, an increase of 34% compared to $213.0 million in the fourth quarter of 2023. Adjusted gross margin for the fourth quarter of 2024 was $200.2 million, up 46% from $137.1 million. Adjusted gross margin percentage for the fourth quarter of 2024 was 70%, compared to 64% in the fourth quarter of 2023. Total operating horsepower at the end of the fourth quarter of 2024 was 4.2 million compared to 3.6 million at the end of the fourth quarter of 2023. Utilization at the end of the fourth quarter of 2024 was 96%, consistent with the fourth quarter of 2023.

    Aftermarket Services

    For the fourth quarter of 2024, aftermarket services segment revenue totaled $40.0 million, compared to $46.6 million in the fourth quarter of 2023 due to seasonal delay in service activity. Adjusted gross margin for the fourth quarter of 2024 was $9.1 million, compared to $10.2 million in the fourth quarter of 2023. Adjusted gross margin percentage for the fourth quarter of 2024 was 23%, compared to 22% for the fourth quarter of 2023.

    Balance Sheet

    Long-term debt was $2.2 billion and our available liquidity totaled $688 million at December 31, 2024. Our leverage ratio was 3.3x as of December 31, 2024, down from 3.5x as of December 31, 2023.

    Quarterly Dividend

    Our Board of Directors recently declared a quarterly dividend of $0.19 per share of common stock, or $0.70 per share on an annualized basis for the year ended December 31, 2024. Dividend coverage in the fourth quarter of 2024 was 3.5x. The fourth quarter 2024 dividend was paid on February 19, 2025 to stockholders of record at the close of business on February 12, 2025.

    2025 Annual Guidance

    (in thousands, except percentages, per share amounts, and ratios)

        Full Year 2025 Guidance  
          Low     High  
    Net income (1) (2)   $ 253,000   $ 293,000  
    Adjusted EBITDA(3)     750,000     790,000  
    Cash available for dividend(4) (5)     456,000     471,000  
                   
    Segment              
    Contract operations revenue   $ 1,200,000   $ 1,235,000  
    Contract operations adjusted gross margin percentage     68 %   71 %
    Aftermarket services revenue   $ 190,000   $ 210,000  
    Aftermarket services adjusted gross margin percentage     22 %   24 %
                   
    Selling, general and administrative   $ 147,000   $ 142,000  
                   
    Capital expenditures              
    Growth capital expenditures   $ 330,000   $ 370,000  
    Maintenance capital expenditures     105,000     115,000  
    Other capital expenditures     35,000     50,000  
    __________________________________
    (1) 2025 annual guidance for net income does not include the impact of long-lived and other asset impairment because due to its nature, it cannot be accurately forecasted. Long-lived and other asset impairment does not impact adjusted EBITDA or cash available for dividend, however it is a reconciling item between these measures and net income. Long-lived and other asset impairment for the years 2024 and 2023 was $10.7 million and $12.0 million, respectively.
    (2) Reflects an estimate of expenses to be incurred related to the acquisition of Total Operations and Production Services, LLC (the “TOPS Acquisition”).
    (3) Management believes adjusted EBITDA provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measure and performance measure for period-to-period comparisons.
    (4) Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends.
    (5) A forward-looking estimate of cash provided by operating activities is not provided because certain items necessary to estimate cash provided by operating activities, including changes in assets and liabilities, are not estimable at this time. Changes in assets and liabilities were $(25.8) million and $(28.0) million for the years 2024 and 2023, respectively.
     

    Summary Metrics

    (in thousands, except percentages, per share amounts and ratios)

        Three Months Ended     Year Ended  
        December 31,    September 30,    December 31,      December 31,    December 31,   
        2024   2024
    		   2023     2024
    		   2023
    		  
    Net income   $ 59,758     $ 37,516     $ 33,002       $ 172,231     $ 104,998    
    Adjusted net income (1)   $ 61,533     $ 47,313     $ 33,002       $ 185,211     $ 104,998    
    Adjusted EBITDA (1)   $ 183,844     $ 150,854     $ 120,263       $ 595,434     $ 450,387    
                                           
    Contract operations revenue   $ 286,466     $ 245,420     $ 213,022       $ 980,405     $ 809,439    
    Contract operations adjusted gross margin   $ 200,245     $ 165,610     $ 137,062       $ 657,353     $ 502,691    
    Contract operations adjusted gross margin percentage     70   %   67   %   64   %     67   %   62   %
                                           
    Aftermarket services revenue   $ 39,950     $ 46,741     $ 46,571       $ 177,186     $ 180,898    
    Aftermarket services adjusted gross margin   $ 9,054     $ 12,346     $ 10,239       $ 41,737     $ 38,627    
    Aftermarket services adjusted gross margin percentage     23   %   26   %   22   %     24   %   21   %
                                           
    Selling, general, and administrative   $ 42,234     $ 34,059     $ 33,007       $ 139,121     $ 116,639    
                                           
    Net cash provided by operating activities   $ 124,338     $ 96,900     $ 71,719         429,591       310,187    
    Cash available for dividend(1)   $ 118,089     $ 92,887     $ 71,484       $ 364,595     $ 232,979    
    Cash available for dividend coverage (2)     3.5   x   3.0   x   2.8   x     3.1   x   2.4   x
                                           
    Adjusted free cash flow (1) (3)   $ 68,945     $ (834,282 )   $ 47,385         (730,472 )     77,696    
    Adjusted free cash flow after dividend (1) (3)   $ 38,255     $ (862,147 )   $ 23,195         (840,846 )     (18,100 )  
                                           
    Total available horsepower (at period end) (4)     4,401       4,418       3,759         4,401       3,759    
    Total operating horsepower (at period end) (5)     4,227       4,179       3,607         4,227       3,607    
    Horsepower utilization spot (at period end) (6)     96   %   95   %   96   %     96   %   96   %
    __________________________________
    (1)  Management believes adjusted net income, adjusted EBITDA, cash available for dividend, adjusted free cash flow and adjusted free cash flow after dividend provide useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.
    (2)  Defined as cash available for dividend divided by dividends declared for the period.
    (3)  Reflects $866.2 million cash paid in TOPS Acquisition, net of cash acquired.
    (4)  Defined as idle and operating horsepower and includes new compressor units completed by a third-party manufacturer that have been delivered to us.
    (5)  Defined as horsepower that is operating under contract and horsepower that is idle but under contract and generating revenue such as standby revenue.
    (6)  Defined as total available horsepower divided by total operating horsepower at period end.
     

    Conference Call Details

    Archrock will host a conference call on February 25, 2025, to discuss fourth quarter and full year 2024 financial results. The call will begin at 9:00 a.m. Eastern Time.

    To listen to the call via a live webcast, please visit Archrock’s website at www.archrock.com. The call will also be available by dialing 1 (800) 715-9871 in the United States or 1 (646) 307-1963 for international calls. The access code is 4749623.

    A replay of the webcast will be available on Archrock’s website for 90 days following the event.

    Adjusted net income, a non-GAAP measure, is defined as net income (loss) excluding transaction-related costs and debt extinguishment loss adjusted for income taxes. A reconciliation of adjusted net income to net income, the most directly comparable GAAP measure, and a reconciliation of adjusted earnings per share to basic and diluted earnings per common share, the most directly comparable GAAP measure, appear below.

    Adjusted EBITDA, a non-GAAP measure, is defined as net income (loss) excluding interest expense, income taxes, depreciation and amortization, long-lived and other asset impairment, unrealized change in fair value of investment in unconsolidated affiliate, restructuring charges, debt extinguishment loss, transaction-related costs, non-cash stock-based compensation expense, amortization of capitalized implementation costs and other items. A reconciliation of adjusted EBITDA to net income, the most directly comparable GAAP measure, and a reconciliation of our full year 2025 adjusted EBITDA guidance to net income appear below.

    Adjusted gross margin, a non-GAAP measure, is defined as revenue less cost of sales, exclusive of depreciation and amortization. Adjusted gross margin percentage, a non-GAAP measure, is defined as adjusted gross margin divided by revenue. A reconciliation of adjusted gross margin to net income, the most directly comparable GAAP measure, and a reconciliation of adjusted gross margin percentage to gross margin appear below.

    Cash available for dividend, a non-GAAP measure, is defined as net income (loss) excluding interest expense, income taxes, depreciation and amortization, long-lived and other asset impairment, unrealized change in fair value of investment in unconsolidated affiliate, restructuring charges, debt extinguishment loss, transaction-related costs, non-cash stock-based compensation expense, amortization of capitalized implementation costs and other items, less maintenance capital expenditures, other capital expenditures, cash taxes and cash interest expense. Reconciliations of cash available for dividend to net income and net cash provided by operating activities, the most directly comparable GAAP measures, and a reconciliation of our full year 2025 cash available for dividend guidance to net income appear below.

    Adjusted free cash flow, a non-GAAP measure, is defined as net cash provided by operating activities plus net cash provided by (used in) investing activities. A reconciliation of adjusted free cash flow to net cash provided by operating activities, the most directly comparable GAAP measure, appears below.

    Adjusted free cash flow after dividend, a non-GAAP measure, is defined as net cash provided by operating activities plus net cash provided by (used in) investing activities less dividends paid to stockholders. A reconciliation of adjusted free cash flow after dividend to net cash provided by operating activities, the most directly comparable GAAP measure, appears below.

    About Archrock

    Archrock is an energy infrastructure company with a primary focus on midstream natural gas compression and a commitment to helping its customers produce, compress and transport natural gas in a safe and environmentally responsible way. Headquartered in Houston, Texas, Archrock is a premier provider of natural gas compression services to customers in the energy industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment. For more information on how Archrock embodies its purpose, WE POWER A CLEANER AMERICA, visit www.archrock.com.

    Forward–Looking Statements

    All statements in this release (and oral statements made regarding the subjects of this release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Archrock. Forward-looking information includes, but is not limited to statements regarding: guidance or estimates related to Archrock’s results of operations or of financial condition; fundamentals of Archrock’s industry, including the attractiveness of returns and valuation, stability of cash flows, demand dynamics and overall outlook, and Archrock’s ability to realize the benefits thereof; Archrock’s expectations regarding future economic, geopolitical and market conditions and trends; Archrock’s operational and financial strategies, including planned growth, coverage and leverage reduction strategies, Archrock’s ability to successfully effect those strategies, and the expected results therefrom; Archrock’s financial and operational outlook; demand and growth opportunities for Archrock’s services; structural and process improvement initiatives, the expected timing thereof, Archrock’s ability to successfully effect those initiatives and the expected results therefrom; the operational and financial synergies provided by Archrock’s size; statements regarding Archrock’s dividend policy; the expected benefits of the TOPS Acquisition, including its expected accretion and the expected impact on Archrock’s leverage ratio; and plans and objectives of management for future operations.

    While Archrock believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: risks related to macroeconomic conditions, including an increase in inflation and trade tensions; pandemics and other public health crises; ongoing international conflicts and tensions; risks related to our operations; competitive pressures; risks of acquisitions to reduce our ability to make distributions to our common stockholders; inability to make acquisitions on economically acceptable terms; risks related to our sustainability initiatives; uncertainty to pay dividends in the future; risks related to a substantial amount of debt and our debt agreements; inability to access the capital and credit markets or borrow on affordable terms to obtain additional capital; inability to fund purchases of additional compression equipment; vulnerability to interest rate increases; erosion of the financial condition of our customers; risks related to the loss of our most significant customers; uncertainty of the renewals for our contract operations service agreements; risks related to losing management or operational personnel; dependence on particular suppliers and vulnerability to product shortages and price increases; information technology and cybersecurity risks; tax-related risks; legal and regulatory risks, including climate-related and environmental, social and governance risks.

    These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Archrock’s Annual Report on Form 10-K for the year ended December 31, 2024, Archrock’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and those set forth from time to time in Archrock’s filings with the Securities and Exchange Commission, which are available at www.archrock.com. Except as required by law, Archrock expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

    SOURCE: Archrock, Inc.

    For information, contact:

    Megan Repine
    VP of Investor Relations
    281-836-8360
    investor.relations@archrock.com

     
    Archrock, Inc.
    Unaudited Condensed Consolidated Statements of Operations
    (in thousands, except per share amounts)
                                   
        Three Months Ended   Year Ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
    Revenue:                              
    Contract operations   $ 286,466     $ 245,420     $ 213,022     $ 980,405     $ 809,439  
    Aftermarket services     39,950       46,741       46,571       177,186       180,898  
    Total revenue     326,416       292,161       259,593       1,157,591       990,337  
                                   
    Cost of sales, exclusive of depreciation and amortization                              
    Contract operations     86,221       79,810       75,960       323,052       306,748  
    Aftermarket services     30,896       34,395       36,332       135,449       142,271  
    Total cost of sales, exclusive of depreciation and amortization     117,117       114,205       112,292       458,501       449,019  
                                   
    Selling, general and administrative     42,234       34,059       33,007       139,121       116,639  
    Depreciation and amortization     58,129       48,377       42,695       193,194       166,241  
    Long-lived and other asset impairment     1,203       2,509       3,658       10,681       12,041  
    Restructuring charges     —       —       221       —       1,775  
    Debt extinguishment loss     —       3,181       —       3,181       —  
    Interest expense     38,238       30,179       27,938       123,610       111,488  
    Transaction-related costs     2,247       9,220       —       13,249       —  
    Gain on sale of assets, net     (12,712 )     (2,218 )     (2,181 )     (17,887 )     (10,199 )
    Other (income) expense, net     1,598       (304 )     (745 )     1,561       1,086  
    Income before income taxes     78,362       52,953       42,708       232,380       142,247  
    Provision for income taxes     18,604       15,437       9,706       60,149       37,249  
    Net income   $ 59,758     $ 37,516     $ 33,002     $ 172,231     $ 104,998  
                                   
    Basic and diluted net income per common share (1)   $ 0.34     $ 0.22     $ 0.21     $ 1.05     $ 0.67  
                                   
    Weighted-average common shares outstanding:                              
    Basic     173,451       165,847       153,879       162,037       154,126  
    Diluted     173,848       166,173       154,177       162,375       154,344  
    __________________________________
    (1)  Basic and diluted net income per common share is computed using the two-class method to determine the net income per share for each class of common stock and participating security (restricted stock and stock-settled restricted stock units that have non-forfeitable rights to receive dividends or dividend equivalents) according to dividends declared and participation rights in undistributed earnings. Accordingly, we have excluded net income attributable to participating securities from our calculation of basic and diluted net income per common share.
     
    Archrock, Inc.
    Unaudited Supplemental Information
    (in thousands, except percentages, per share amounts and ratios)
                                       
        Three Months Ended       Year Ended  
        December 31,    September 30,    December 31,      December 31,    December 31,   
        2024   2024   2023     2024   2023  
    Revenue:                                  
    Contract operations   $ 286,466     $ 245,420     $ 213,022       $ 980,405     $ 809,439    
    Aftermarket services     39,950       46,741       46,571         177,186       180,898    
    Total revenue   $ 326,416     $ 292,161     $ 259,593       $ 1,157,591     $ 990,337    
                                       
    Adjusted gross margin:                                  
    Contract operations   $ 200,245     $ 165,610     $ 137,062       $ 657,353     $ 502,691    
    Aftermarket services     9,054       12,346       10,239         41,737       38,627    
    Total adjusted gross margin (1)   $ 209,299     $ 177,956     $ 147,301       $ 699,090     $ 541,318    
                                       
    Adjusted gross margin percentage:                                  
    Contract operations     70   %   67   %   64   %     67   %   62   %
    Aftermarket services     23   %   26   %   22   %     24   %   21   %
    Total adjusted gross margin percentage (1)     64   %   61   %   57   %     60   %   55   %
                                       
    Selling, general and administrative   $ 42,234     $ 34,059     $ 33,007       $ 139,121     $ 116,639    
    % of revenue     13   %   12   %   13   %     12   %   12   %
                                       
    Adjusted EBITDA (1)   $ 183,844     $ 150,854     $ 120,263       $ 595,434     $ 450,387    
    % of revenue     56   %   52   %   46   %     51   %   45   %
                                       
    Capital expenditures   $ 97,988     $ 70,018     $ 36,655       $ 359,032     $ 298,632    
    Proceeds from sale of property, plant and equipment and other assets     (43,387 )     (6,654 )     (17,543 )       (67,591 )     (72,206 )  
    Net capital expenditures   $ 54,601     $ 63,364     $ 19,112       $ 291,441     $ 226,426    
                                       
    Total available horsepower (at period end) (2)     4,401       4,418       3,759         4,401       3,759    
    Total operating horsepower (at period end) (3)     4,227       4,179       3,607         4,227       3,607    
    Average operating horsepower     4,205       3,757       3,607         3,794       3,554    
    Horsepower utilization:                                  
    Spot (at period end) (4)     96   %   95   %   96   %     96   %   96   %
    Average (4)     95   %   95   %   96   %     95   %   95   %
                                       
    Dividend declared for the period per share   $ 0.190     $ 0.175     $ 0.165       $ 0.695     $ 0.625    
    Dividend declared for the period to all stockholders   $ 33,487     $ 30,656     $ 25,913       $ 117,861     $ 97,857    
    Cash available for dividend coverage (5)     3.5   x   3.0   x   2.8   x     3.1   x   2.4   x
                                       
    Adjusted free cash flow (1) (6)   $ 68,945     $ (834,282 )   $ 47,385       $ (730,472 )   $ 77,696    
    Adjusted free cash flow after dividend (1)(6)   $ 38,255     $ (862,147 )   $ 23,195       $ (840,846 )   $ (18,100 )  
    __________________________________
    (1) Management believes adjusted gross margin, adjusted EBITDA, adjusted free cash flow and adjusted free cash flow after dividend provide useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.
    (2) Defined as idle and operating horsepower and includes new compressor units completed by a third-party manufacturer that have been delivered to us.
    (3) Defined as horsepower that is operating under contract and horsepower that is idle but under contract and generating revenue such as standby revenue.
    (4) Defined as total available horsepower divided by total operating horsepower at period end (spot) or over time (average).
    (5) Defined as cash available for dividend divided by dividends declared for the period.
    (6) Reflects $866.2 million cash paid in TOPS Acquisition, net of cash acquired.
        December 31,    September 30,    December 31, 
           2024      2024      2023
    Balance Sheet                  
    Long-term debt (1)   $ 2,198,376   $ 2,236,131   $ 1,584,869
    Total equity     1,323,531     1,290,736     871,021
    __________________________________
    (1)  Carrying values are shown net of unamortized premium and deferred financing costs.
     
    Archrock, Inc.
    Unaudited Supplemental Information
    Reconciliation of Net Income to Adjusted Net Income and Earnings Per Share to Adjusted Earnings Per Share
    (in thousands, except per share amounts)
                                       
        Three Months Ended   Year Ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
    Net income   $ 59,758     $ 37,516     $ 33,002     $ 172,231     $ 104,998  
    Transaction-related costs     2,247       9,220       —       13,249       —  
    Debt extinguishment loss     —       3,181       —       3,181       —  
    Tax effect of adjustments (1)     (472 )     (2,604 )     —       (3,450 )     —  
    Adjusted net income (2)   $ 61,533     $ 47,313     $ 33,002     $ 185,211     $ 104,998  
                                       
    Weighted-average common shares outstanding used in diluted earnings per common share     173,451       166,173       154,401       162,037       154,344  
                                       
    Basic and diluted earnings per common share (3)   $ 0.34     $ 0.22     $ 0.21       1.05       0.67  
    Transaction-related costs per share     0.01       0.06       —       0.08       —  
    Debt extinguishment loss per share     —       0.02       —       0.02       —  
    Tax effect of adjustments per share     (0.00 )     (0.02 )     —       (0.02 )     —  
    Adjusted earnings per share (2)   $ 0.35     $ 0.28     $ 0.21     $ 1.13     $ 0.67  
    __________________________________
    (1) Represents tax effect of transaction-related costs and debt extinguishment loss based on statutory tax rate.
    (2) Management believes adjusted net income and adjusted earnings per share provides useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review our current period operating performance, comparability measure and performance measure for period-to-period comparisons without burdened earnings and earnings per share for non-recurring transactional costs.
    (3) Basic and diluted net income per common share is computed using the two-class method to determine the net income per share for each class of common stock and participating security (restricted stock and stock-settled restricted stock units that have non-forfeitable rights to receive dividends or dividend equivalents) according to dividends declared and participation rights in undistributed earnings. Accordingly, we have excluded net income attributable to participating securities from our calculation of basic and diluted net income per common share.
     
    Archrock, Inc.
    Unaudited Supplemental Information
    Reconciliation of Net Income to Adjusted EBITDA and Adjusted Gross Margin
    (in thousands)
                                   
        Three Months Ended   Year Ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
    Net income   $ 59,758     $ 37,516     $ 33,002     $ 172,231     $ 104,998  
    Depreciation and amortization     58,129       48,377       42,695       193,194       166,241  
    Long-lived and other asset impairment     1,203       2,509       3,658       10,681       12,041  
    Unrealized change in fair value of investment in unconsolidated affiliate     1,484       —       (1,023 )     1,484       973  
    Restructuring charges     —             221       —       1,775  
    Debt extinguishment loss     —       3,181       —       3,181       —  
    Interest expense     38,238       30,179       27,938       123,610       111,488  
    Transaction-related costs     2,247       9,220       —       13,249       —  
    Stock-based compensation expense     3,431       3,738       3,283       14,646       12,998  
    Amortization of capitalized implementation costs     750       697       783       3,009       2,624  
    Provision for income taxes     18,604       15,437       9,706       60,149       37,249  
    Adjusted EBITDA (1)     183,844       150,854       120,263       595,434       450,387  
    Selling, general and administrative     42,234       34,059       33,007       139,121       116,639  
    Stock-based compensation expense     (3,431 )     (3,738 )     (3,283 )     (14,646 )     (12,998 )
    Amortization of capitalized implementation costs     (750 )     (697 )     (783 )     (3,009 )     (2,624 )
    Gain on sale of assets, net     (12,712 )     (2,218 )     (2,181 )     (17,887 )     (10,199 )
    Other (income) expense, net     1,598       (304 )     (745 )     1,561       1,086  
    Adjusted gross margin (1)   $ 209,299     $ 177,956     $ 147,301     $ 699,090     $ 541,318  
    __________________________________
    (1)  Management believes adjusted EBITDA and adjusted gross margin provide useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.
     
    Archrock, Inc.
    Unaudited Supplemental Information
    Reconciliation of Total Revenue to Adjusted Gross Margin
    (in thousands)
                                             
        Three Months Ended   Year Ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
    Total revenues   $ 326,416       $ 292,161       $ 259,593       $ 1,157,591       $ 990,337    
    Cost of sales, exclusive of depreciation and amortization     (117,117 )       (114,205 )       (112,292 )       (458,501 )       (449,019 )  
    Depreciation and amortization     (58,129 )       (48,377 )       (42,695 )       (193,194 )       (166,241 )  
    Gross margin     151,170   46 %     129,579   44 %     104,606   40 %     505,896   44 %     375,077   38 %
    Depreciation and amortization     58,129         48,377         42,695         193,194         166,241    
    Adjusted gross margin (1)   $ 209,299   64 %   $ 177,956   61 %   $ 147,301   57 %   $ 699,090   60 %     541,318   55 %
    __________________________________
    (1) Management believes adjusted gross margin provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.
     
    Archrock, Inc.
    Unaudited Supplemental Information
    Reconciliation of Net Income to Adjusted EBITDA and Cash Available for Dividend
    (in thousands)
                                   
        Three Months Ended   Year Ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
    Net income   $ 59,758     $ 37,516     $ 33,002     $ 172,231     $ 104,998  
    Depreciation and amortization     58,129       48,377       42,695       193,194       166,241  
    Long-lived and other asset impairment     1,203       2,509       3,658       10,681       12,041  
    Unrealized change in fair value of investment in unconsolidated affiliate     1,484       —       (1,023 )     1,484       973  
    Restructuring charges     —       —       221       —       1,775  
    Debt extinguishment loss     —       3,181       —       3,181       —  
    Interest expense     38,238       30,179       27,938       123,610       111,488  
    Transaction-related costs     2,247       9,220       —       13,249        
    Stock-based compensation expense     3,431       3,738       3,283       14,646       12,998  
    Amortization of capitalized implementation costs     750       697       783       3,009       2,624  
    Provision for income taxes     18,604       15,437       9,706       60,149       37,249  
    Adjusted EBITDA (1)     183,844       150,854       120,263       595,434       450,387  
    Less: Maintenance capital expenditures     (21,623 )     (21,190 )     (18,156 )     (87,753 )     (92,168 )
    Less: Other capital expenditures     (7,023 )     (6,945 )     (3,193 )     (20,333 )     (16,164 )
    Less: Cash tax (payment) refund     134       (404 )     (120 )     (2,209 )     (1,311 )
    Less: Cash interest expense     (37,243 )     (29,428 )     (27,310 )     (120,544 )     (107,765 )
    Cash available for dividend (2)   $ 118,089     $ 92,887     $ 71,484     $ 364,595     $ 232,979  
    __________________________________
    (1)  Management believes adjusted EBITDA provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measure and performance measure for period-to-period comparisons.
    (2)  Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends.
     
    Archrock, Inc.
    Unaudited Supplemental Information
    Reconciliation of Net Cash Provided by Operating Activities to Cash Available for Dividend
    (in thousands)
                                   
        Three Months Ended   Year Ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
    Net cash provided by operating activities   $ 124,338     $ 96,900     $ 71,719     $ 429,591     $ 310,187  
    Inventory write-downs     18       (51 )     (164 )     (550 )     (545 )
    Provision for credit losses     (286 )     (90 )     (458 )     (381 )     (224 )
    Gain on sale of assets, net     12,712       2,218       2,181       17,887       10,199  
    Current income tax (benefit) provision     997       (146 )     459       2,059       1,591  
    Cash tax (payment) refund     134       (404 )     (120 )     (2,209 )     (1,311 )
    Amortization of operating lease ROU assets     (1,063 )     (962 )     (831 )     (3,852 )     (3,319 )
    Amortization of contract costs     (6,106 )     (6,046 )     (5,653 )     (23,877 )     (21,289 )
    Deferred revenue recognized in earnings     5,294       4,101       5,421       15,001       16,464  
    Cash restructuring charges     —       —       211       —       1,554  
    Transaction-related costs     2,247       9,220       —       13,249       —  
    Changes in assets and liabilities     8,450       16,282       20,068       25,763       28,004  
    Maintenance capital expenditures     (21,623 )     (21,190 )     (18,156 )     (87,753 )     (92,168 )
    Other capital expenditures     (7,023 )     (6,945 )     (3,193 )     (20,333 )     (16,164 )
    Cash available for dividend (1)   $ 118,089     $ 92,887     $ 71,484     $ 364,595     $ 232,979  
    __________________________________
    (1)  Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends.
     
    Archrock, Inc.
    Unaudited Supplemental Information
    Reconciliation of Net Cash Provided By Operating Activities to Adjusted Free Cash Flow
    and Adjusted Free Cash Flow After Dividend
    (in thousands)
                                   
        Three Months Ended   Year Ended
        December 31,    September 30,    December 31,    December 31,    December 31, 
        2024   2024   2023   2024   2023
    Net cash provided by operating activities   $ 124,338     $ 96,900     $ 71,719     $ 429,591     $ 310,187  
    Net cash used in investing activities (1)     (55,393 )     (931,182 )     (24,334 )     (1,160,063 )     (232,491 )
    Adjusted free cash flow (1) (2)     68,945       (834,282 )     47,385       (730,472 )     77,696  
    Dividends paid to stockholders     (30,690 )     (27,865 )     (24,190 )     (110,374 )     (95,796 )
    Adjusted free cash flow after dividend (1) (2)   $ 38,255     $ (862,147 )   $ 23,195     $ (840,846 )   $ (18,100 )
    __________________________________
    (1)  Reflects $866.2 million cash paid in TOPS Acquisition, net of cash acquired.
    (2)  Management believes adjusted free cash flow and adjusted free cash flow after dividend provide useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.
     
    Archrock, Inc.
    Unaudited Supplemental Information
    Reconciliation of Net Income to Adjusted EBITDA and Cash Available for Dividend Guidance
    (in thousands)
                 
        Annual Guidance Range
        2025
        Low   High
    Net income (1)   $ 253,000     $ 293,000  
    Interest expense     153,000       153,000  
    Provision for income taxes     101,000       101,000  
    Depreciation and amortization     219,000       219,000  
    Stock-based compensation expense     15,000       15,000  
    Amortization of capitalized implementation costs     4,000       4,000  
    Transaction-related costs (2)     5,000       5,000  
    Adjusted EBITDA (3)     750,000       790,000  
    Less: Maintenance capital expenditures     (105,000 )     (115,000 )
    Less: Other capital expenditures     (35,000 )     (50,000 )
    Less: Cash tax expense     (7,000 )     (7,000 )
    Less: Cash interest expense     (147,000 )     (147,000 )
    Cash available for dividend (4)(5)   $ 456,000     $ 471,000  
    __________________________________
    (1) 2025 annual guidance for net income does not include the impact of long-lived and other asset impairment because due to its nature, it cannot be accurately forecasted. Long-lived and other asset impairment does not impact Adjusted EBITDA or cash available for dividend, however it is a reconciling item between these measures and net income. Long-lived and other asset impairment for the years 2024 and 2023 was $10.7 million and $12.0 million, respectively.
    (2) Reflects an estimate of expenses to be incurred related to the TOPS acquisition.
    (3) Management believes adjusted EBITDA provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measure and performance measure for period-to-period comparisons.
    (4) Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends.
    (5) A forward-looking estimate of cash provided by operating activities is not provided because certain items necessary to estimate cash provided by operating activities, including changes in assets and liabilities, are not estimable at this time. Changes in assets and liabilities were $(25.8) million and $(28.0) million for the years 2024 and 2023, respectively.

    The MIL Network –

  • MIL-OSI: Apollo Announces 2025 Annual Meeting of Stockholders

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 24, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that its 2025 Annual Meeting of Stockholders will be held virtually on June 6, 2025, at 9:30 am ET. The record date for the meeting is April 14, 2025. Information on the virtual meeting will be included in the 2025 proxy statement.

    About Apollo
    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

    Apollo Forward-Looking Statements

    This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, liquidity and capital resources and the other non-historical statements. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “will,” “should,” “could,” or “may,” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. These statements are subject to certain risks, uncertainties and assumptions, including but not limited to those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (“SEC”) on February 24, 2025, as such factors may be updated from time to time in Apollo’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Apollo’s filings with the SEC. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

    Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com

    The MIL Network –

  • MIL-OSI Australia: Broken Hill’s energy future secured by hi-tech air energy storage system

    Source: New South Wales Premiere

    Published: 25 February 2025

    Released by: Minister for Energy and Climate Change, Minister for Planning and Public Spaces

    An old Broken Hill mine site will soon be transformed into a first-of-its-kind compressed air energy storage system, delivering energy security, jobs and investment to Broken Hill.

    The Minns Labor Government has provided planning approval for Hydrostor’s compressed air energy storage system with a capacity of 200 megawatts (MW) / 1,600 MW-hours (MWh). The Silver City Energy Storage Centre could power about 80,000 homes in peak demand and will maintain a reserve capacity of 250 MWh to provide back-up to Broken Hill during times of planned and unplanned outages.

    The project is the first-of-its-kind in Australia. It utilises advanced technology that uses compressed air to store energy and generate electricity, without producing greenhouse gases.

    The $638 million project will boost the local economy, creating up to 400 full-time construction jobs and around 26 ongoing operational jobs.

    During periods of low-energy demand, excess electricity is used to compress air and store it in large underground caverns or tanks.

    When energy demand is high, the compressed air is released, heated and expanded through turbines to generate electricity.

    The project will be supported by a 65-year government lease on a Crown land site near the Potosi mine at Broken Hill.

    The energy storage system will support different renewable energy sources in the region to reliably power homes and businesses in and around Broken Hill.

    Broken Hill City Council will receive $3.1 million under a Voluntary Planning Agreement, paid over five years, to benefit the local community.

    With work expected to start this year, it is estimated construction of the project will take three to four years.

    For more information visit Silver City Energy Storage System | Planning Portal – Department of Planning and Environment

    Minister for Climate Change and Energy Penny Sharpe said:

    “Hydrostor’s Silver City Energy Storage Centre boosts the reliability of the NSW electricity grid and provides back-up for homes and businesses in the state’s far west in times of planned and unplanned outages.

    “Energy storage solutions like this will go a long way to preventing blackouts like the ones the Far West experienced last year.

    “The project will provide construction and ongoing jobs, and will put Broken Hill on the map as a nation leader in renewable energy.”

    Minister for Planning and Public Spaces Paul Scully said:

    “The city needs a reliable supply of power and this project will provide certainty and reliability for local residents and businesses.

    “The Minns Government is working with proponents to see industrial sites rehabilitated and renewed for future use.

    “This technology not only supports our transition to cleaner energy sources but also promotes economic growth through job creation in the energy sector.”

    Minister for Lands and Property Steve Kamper said:

    “It’s fantastic to see planning approval confirmed for the Hydrostor project which will be further supported by a 65-year government lease on a Crown land site near Broken Hill.

    “The Silver City Energy Storage Facility will be the first of its kind for Australia, generating both vital backup energy for Broken Hill and significant ongoing jobs and investment spending for the Far West economy.”

    MIL OSI News –

  • MIL-OSI Australia: NSW Government taking action on waste crisis

    Source: New South Wales Premiere

    Published: 25 February 2025

    Released by: Minister for Energy and Climate Change

    Minns Labor Government is taking strong action to prevent a waste crisis in NSW, with landfill due to reach capacity in Greater Sydney by 2030.

    NSW has just passed landmark legislation to become the first state to implement a statewide mandate for Food Organics and Garden Organics (FOGO) recycling, to divert food waste from landfill into compost.

    The legislation mandates FOGO collection services for households by July 2030, and for businesses and institutions in stages from July 2026.

    FOGO bins will be rolled out at premises such as supermarkets, pubs, cafes, universities, schools, hotels and hospitals. Large supermarkets will also be required to report on the amounts and types of surplus food donated to charities like OzHarvest, Second Bite and Foodbank.

    With FOGO taking up to a third of household red bin capacity, this legislation will help take some pressure off landfill. It also takes us one step closer to a circular economy in NSW, where resources are recycled, reused and repurposed.

    The new laws are backed by a $81 million FOGO Fund to go largely to Councils for infrastructure including bins, kitchen caddies and liners, contamination audits, community education programs and staffing, including a $9 million boost in funding allocated to:

    • $4 million to support implementation in apartments and multi-unit dwellings
    • $3 million for a statewide advertising campaign to raise awareness and encourage behaviour change
    • $1 million for councils with existing FOGO services to conduct annual ‘booster’ education campaigns
    • $1 million for a pilot to tackle contamination hotspots using artificial intelligence.

    The new laws are projected to divert up to one million tonnes of organic waste from landfill each year. Most will be transformed into high-quality compost for parks, sporting fields and agriculture, promoting healthier soils and sustainable food production.

    The NSW Environment Protection Authority is working closely with communities, councils and industry to ensure a smooth and effective transition.

    A step-by-step Best Practice Guide has also been launched to help councils introduce FOGO and manage contamination risks.

    To learn more about the rollout, visit the NSW EPA website.

    The next step to tackle the waste crisis is the refinement of the Energy from Waste framework in NSW.

    A discussion paper outlines some small, proposed changes to the existing Energy from Waste framework, including clarification around the definition of thermal treatment.

    Public consultation is open from Tuesday, 25 February until Tuesday, 8 April, and feedback can be provided through the NSW Government’s Have Your Say platform.

    Quote attributable to Minister for Energy, Penny Sharpe:

    “NSW has ignored the crisis for landfill capacity for too long. We cannot kick this can down the road any longer.

    “The new FOGO laws mean NSW is leading the nation in combating food waste, becoming the first to mandate this recycling revolution across the state.

    “These new laws are backed by $81 million to support councils to move to FOGO by 2030.”

    MIL OSI News –

  • MIL-OSI: SECU Foundation Awards $2 Million Grant to Support Expansion of the North Carolina Aquarium at Fort Fisher

    Source: GlobeNewswire (MIL-OSI)

    KURE BEACH, N.C., Feb. 24, 2025 (GLOBE NEWSWIRE) — SECU Foundation has awarded a $2 million capital grant to the North Carolina Aquarium Society, contributing to the expansion of the North Carolina Aquarium at Fort Fisher (NCAFF). The development project will increase the interactive space at the state’s most visited aquarium and include a new education center to serve North Carolina students.

    Operated under the North Carolina Department of Natural and Cultural Resources, the North Carolina Aquariums include three aquariums and Jennette’s Pier. They welcome more than 1.4 million visitors annually. About 500,000 of those guests visit NCAFF, including tens of thousands of students, who visit on field trips. Through engaging and immersive educational activities, the Aquariums foster a deeper understanding and connection to aquatic environments with the hope that visitors are inspired to protect them.

    “We are so pleased to be a part of the expansion of the North Carolina Aquarium at Fort Fisher,” said SECU Foundation Board Vice Chair Mona Moon. “With the SECU Foundation grant and the support of many others in the community, improvements made to this landmark Aquarium will propel it to a world-class facility for our state. With a new education center and other exciting additions to be announced later this year, even more visitors from all corners of our state and beyond can engage with our coastal ecosystems and aquatic environments.”

    “On behalf of the North Carolina Aquarium Society, we are immensely grateful for this generous grant from the SECU Foundation,” said Society Board Chair Drew Covert. “Among other exciting renovation plans, this grant will fund the creation of a new educational center – one that extends beyond the Aquarium walls to provide truly immersive experiences for students in North Carolina who need it most.” 

    “We are honored to have the ongoing support of the North Carolina Aquarium Society and their important collaborative work with partners like the SECU Foundation to bolster the North Carolina Aquariums,” said North Carolina Aquarium Division Director Hap Fatzinger. “The North Carolina Aquarium at Fort Fisher renovation and expansion is the most consequential project since the creation of the marine resource centers nearly 50 years ago. We are excited for what’s ahead and the lasting impact this will have on our state.”

    About SECU and SECU Foundation
    A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 87 years. SECU is the second largest credit union in the United States with $53 billion in assets. It serves more than 2.8 million members through 275 branch offices, 1,100 ATMs, Member Services Support via phone, www.ncsecu.org, and the SECU Mobile App. The SECU Foundation, a 501(c)(3) charitable organization funded by the contributions of SECU members, promotes local community development in North Carolina primarily through high-impact projects in the areas of housing, education, healthcare, and human services. Since 2004, SECU Foundation has made a collective financial commitment of over $300 million for initiatives to benefit North Carolinians statewide.

    About North Carolina Aquarium Society
    The North Carolina Aquarium Society is a nonprofit (501c3) organization dedicated to supporting the North Carolina Aquariums through private fundraising, membership, and revenue generation. Established in 1986, the Society partners with the Aquariums to enhance exhibits, animal care, education programs, and conservation initiatives beyond what state funding provides.

    Holding the check left to right are SECU Foundation Board Vice Chair Mona Moon, North Carolina Aquarium Society President and CEO Liz Baird, and NCAFF Director Joanna Zazzali, surrounded by SECU Foundation, SECU, and NCAFF employees and board members from the North Carolina Aquarium Society.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f1db278-c292-4ef0-aae9-88c8b6f1a46e

    The MIL Network –

  • MIL-OSI New Zealand: Chinese live fire: a wake-up call for NZ’s investment priorities

    Source: ACT Party

    “Chinese war ships engaging in live fire in the Tasman Sea ought to be a wake-up call for our investment priorities,” says ACT Defence spokesperson Mark Cameron.

    “We have been taking the so-called benign strategic environment for granted, but the rule of history is that big fish eat the little fish. New Zealand needs to wake up, get together with its mates, and up our defensive capability – fast.

    “Lifting investment in Defence is a matter of security, but also of prosperity. Our fisheries, sea mining, trade routes, and Exclusive Economic Zone hold untold economic value, and any serious strategy to grow the economy will rely on our continued control of these assets.

    “Prior to the election, ACT campaigned on increasing defence spending to 1.5% of GDP, or $4.35 billion over four years, with a long-term target of reaching 2% by 2030.

    “Australia’s defence spending has already surged above 2%, heading to 2.4% by the end of the decade. We need to do our part and work with our friends to effectively direct our investment, so that we can be taken seriously as an ally worth defending.

    “Crucially, ACT is open to debate around tough trade-offs in spending and investment to make a Defence boost possible.

    “This morning, the New Zealand Initiative released a report valuing the government’s existing assets at $571 billion. It raises some interesting questions. Does it make more sense for the government to own a television station, or a P8 Poseidon? Should we keep a 51% share in a power company, or get our hands on some more frigates?

    “ACT would argue it’s time to pull money out of the nice-to-haves, and invest in the men and women who protect our livelihoods.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Results – Port Marlborough reports strong half year performance for 2025

    Source: Port Marlborough

    Port Marlborough has filed its Half Year Report for the first half of the 2025 financial year, highlighting positive progress across its key focus areas: people, planet, prosperity, and partnerships.
    The port continues to invest in workforce capability, with new marine cadetships, internal promotions, and leadership development programmes supporting career progression and workplace culture. Critical risk and fatigue risk management measures have been implemented, and the port’s strong focus on the Hauora (Health, Safety and Wellbeing) of all people in its workplaces remains a priority.
    Environmental progress has also been a standout, with Marlborough Sounds Marinas becoming the first in New Zealand to achieve International Clean Marina accreditation, recognising high standards in marine biosecurity and environmental management. Across operations, 82% of waste has been diverted from landfill, and habitat restoration efforts continue, with thousands of native plants established in key areas.
    Revenue has increased by 13% compared to the same period last year, driven by strong trade performance and increased uptake of berthage at Waikawa North West Marina. Forestry trade has grown by 18%, supported by the completion of the South Island’s first on-port debarking facility, in partnership with Pedersen Group and C3.
    Port Marlborough Chief Executive Rhys Welbourn said the results reflect the company’s focus on sustainable growth and long-term investment.
    “These results show the benefits of our continued investment in infrastructure, environmental initiatives, and workforce capability. We are seeing strong performance across key trade areas, our marinas remain in high demand, and our sustainability initiatives are delivering measurable outcomes. The International Clean Marina accreditation is a milestone achievement and highlights how seriously we take the importance of marine biosecurity across our operations.
    “As we move into the second half of the financial year, we remain committed to delivering value for Marlborough, supporting and facilitating Marlborough’s key trades, and ensuring that our investment decisions contribute to the long-term success of the region.”
    Port Marlborough’s partnerships with industry, iwi, and regional stakeholders remain a key focus, including hosting the launch of the Protect Our Paradise national biosecurity campaign and delivering community sponsorships that support local initiatives.The 2025 Half Year Report can be found here: LINK: https://portmarlborough.co.nz/strong-half-year-performance-for-2025/

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Business Appointments – Raine & Horne beefs up executive team in New Zealand with the appointment of James Shepherd

    Source: Raine & Horne

    Highlights

    • Raine & Horne appoints James Shepherd as Supervision and Compliance Manager for New Zealand, bringing almost 16 years of industry experience to support the super brand’s rapid expansion.
    • Mr Shepherd is excited about the company’s growth in New Zealand and is eager to unlock further potential and streamline processes for improved sales and compliance.
    • Looking ahead for 2025, Mr Shepherd predicts steady market conditions across New Zealand, offering opportunities for savvy buyers and vendors, particularly for downsizing.

    Christchurch, NZ (25 February 2025) One of Australasia’s fastest-growing real estate networks Raine & Horne has scored a major executive coup with Mr James Shepherd’s appointment as Supervision and Compliance Manager for New Zealand.

    Mr Shepherd, who began his real estate career in 2009 after transitioning from the machinery and construction sector, has almost 16 years of experience working with two major real estate networks.

    Besides his compliance role, Mr Shepherd will also assume general management responsibilities for the rapidly growing brand. Raine & Horne has quickly grown its footprint in New Zealand, with over 70 offices since launching in April 2023.

    Mr Angus Raine, Executive Chairman of Raine & Horne, is thrilled to welcome Mr Shepherd to the team. He believes his extensive background in office ownership, management, and sales will be invaluable.

    “James is a major asset for our business as we expand across New Zealand. He has a strong background in office ownership and management, sales management, and a wealth of recent sales experience in the Christchurch region,” said Mr Raine.

    “With his extensive background, he will be responsible for supporting our existing offices and sales agents and helping to grow the office network. His role will, of course, also strongly focus on our compliance framework.”

    Amplifying rapid growth for Raine & Horne’s offices, sales agents and brand

    Mr Shepherd said he is excited to join Raine & Horne at this point in its growth curve in New Zealand.

    “The impressive growth the brand has experienced over the past 18 months, particularly after the acquisitions in 2024, shows a strong upward trajectory,” he said.

    “Our new offices want to grow their businesses and are embracing Raine & Horne’s systems and processes, and there’s massive potential for them to expand. I’m excited that I’ll be helping them to unlock this potential.”

    Mr Shepherd noted that one exciting opportunity for real estate businesses in New Zealand is the chance to streamline administrative processes and navigate complex regulations more efficiently.

    “With my deep understanding of compliance issues, I’m confident I can help streamline the process and free up salespeople to focus on what matters – selling their vendor’s properties.”

    Having worked with two of New Zealand’s major real estate brands, Mr Shepherd is excited to be part of a company pushing beyond the status quo.

    “Raine & Horne’s unique edge is our advanced technology, and I am eager to drive awareness of our ecosystem of technology firsts throughout New Zealand, particularly the first-to-market AI-powered social media marketing platform, Amplify.”

    Mr Shepherd also sees tremendous potential for Raine & Horne’s rural real estate division in New Zealand, drawing from his extensive rural background in farming before his stint in construction.

    “New Zealand has a deep connection to rural life, so I see excellent opportunities for Raine & Horne Rural in New Zealand,” he said.

    Steady market conditions expected in 2025

    Looking ahead to the remainder of 2025, Mr Shepherd believes vendors and buyers can expect a steady year. “While there are still some economic challenges to navigate, I expect the residential property market to remain steady and gradually build momentum.

    “It won’t be a year for price surges, but this also means 2025 will be an excellent year for those ready to make moves,” he adds.  

    “If you’ve got your finances in order, 2025 could be the year to jump in, while conditions remain stable.”

    Mr Shepherd also sees a strong opportunity for those considering a move. Despite increased stock levels, the highest seen in a decade, he envisages the potential for better prices in 2025 than the past couple of years.

    Finally, Mr Shepherd is excited about the future with Raine & Horne, saying, “I’m thrilled about the opportunities ahead. I’m eager to dive in, visit the offices, meet the teams, and help build the future of this exciting business.”

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Helping women and children in Dubbo leave violent relationships

    Source: Australian Ministers for Social Services

    The Albanese Labor Government is supporting women and children living in Dubbo to leave violent intimate partner relationships.

    Bunmabunmarra Service Pty Ltd will receive $6.3 million to deliver culturally safe programs to support victim-survivors of intimate partner violence in the regional NSW area.

    This is one of three place-based trials commencing from 1 July – part of the next stage of the $925 million Leaving Violence Program.

    The Government is investing $22.35 million in trials in Dubbo, Broome in Western Australia and Darwin in the Northern Territory, to provide tailored, trauma-informed support to victim-survivors.

    Bunmabunmarra Service Pty Ltd will also support victim-survivors to access the Leaving Violence Program.

    Under the Leaving Violence Program, eligible victim-survivors receive financial support of up to $5,000, including up to $1,500 in cash and the remainder in goods and services. Supports include safety planning, risk assessment and referrals to other essential services for up to 12 weeks. The national program is expected to support over 36,000 victim-survivors a year.

    Minister for Social Services Amanda Rishworth said financial barriers can be a huge impediment to victim-survivors breaking free of a violent relationship.

    “The Albanese Labor Government is absolutely committed to ending family, domestic and sexual violence in a generation. We want people to know if they need to leave, they can afford to go,” Minster Rishworth said.

    “These regional trials will provide a financial and practical lifeline for people experiencing intimate partner violence in regional Australia, helping them break free from abusive relationships and build a life free from violence.”

    Assistant Minister for Social Security and Women Kate Thwaites said people experiencing violence would have access to culturally safe programs through the trials.

    “It’s important for anyone experiencing intimate partner violence to have a range of options to choose from when seeking support.

    “Increasing the access and choices for this program will help more people experiencing violence, particularly Aboriginal and Torres Strait Islander people, to receive support and to leave violent intimate partner relationships.”

    Intimate partner violence is a problem of epidemic proportions in Australia, with a quarter of all Australian women having experienced it in their lifetime.

    The Leaving Violence Program helps support the aims of the National Plan to End Violence against Women and Children 2022-32 to end violence in one generation, and forms part of the Albanese Government’s $4 billion investment in women’s safety since 2022.

    More than 78,000 victim-survivors have accessed the EVP payment since 2021. Over 70 per cent of those accessing the support were self-referrals meaning without this program they may have fallen through the cracks of the support system.

    More information on the Leaving Violence Program is available on the Department of Social Services website.

    If you or someone you know is experiencing, or at risk of experiencing, domestic, family or sexual violence, call 1800RESPECT on 1800 737 732, chat online via www.1800RESPECT.org.au, or text 0458 737 732.

    If you are concerned about your behaviour or use of violence, you can contact the Men’s Referral Service on 1300 766 491 or visit http://www.ntv.org.au

    Feeling worried or no good? No shame, no judgement, safe place to yarn. Speak to a 13YARN Crisis Supporter, call 13 92 76. This service is available 24 hours a day, 7 days a week.

    MIL OSI News –

  • MIL-OSI USA: SBA Administrator Loeffler Issues Memo on Day One Priorities

    Source: United States Small Business Administration

    WASHINGTON — Following her confirmation and swearing-in as the 28th Administrator of the U.S. Small Business Administration, Kelly Loeffler issued a Day One memo outlining her top priorities for the agency.

    “Small businesses are the backbone of our nation, driving innovation, job creation, and prosperity – and there’s no stronger advocate for small business than President Trump or myself. But over the last four years, the SBA has burdened entrepreneurs with bureaucracy – with its programs becoming mired in fraud, waste, and abuse,” SBA Administrator Loeffler said. “That changes today. My first priority is rebuilding the SBA into an America First engine for free enterprise – by empowering small businesses and fueling economic growth.

    “From day one, we will uphold the highest standards of accountability, performance, and integrity, where taxpayer dollars will be safeguarded, not squandered. We will streamline operations, drive efficiency, and ensure programs deliver real results. It’s a new day at the SBA, and I’m honored to lead a team that is committed to serving America’s job creators and citizens when disaster strikes.”

    The following priorities have been distributed to all SBA staff as the agency prepares to carry out President Trump’s America First agenda and empower small businesses to thrive:

    Supporting President Trump’s America First Agenda

    1. Promoting “Made in America” with U.S. manufacturing: The vast majority of America’s manufacturers are small businesses, and SBA programs have powered tens of thousands of them. This agency is committed to supporting the America First agenda by rebuilding American supply chains and investing in manufacturing to strengthen our economy and national security. The agency will transform its Office of International Trade into the Office of Manufacturing and Trade – which will focus on promoting economic independence, job creation, and fair trade practices to power the next blue-collar boom. SBA will also partner across agencies to scale innovative manufacturing and technology startups that will help our nation return to “Made in America.”
    2. Implementing President Trump’s executive orders: SBA will enforce all of President Trump’s executive orders including Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government, Ending Radical and Wasteful Government DEI Programs and Preferencing and Unleashing American Energy. To date, SBA has already taken the following actions:
      • Eliminated the Office of Diversity, Equity, Inclusion, and Accessibility, placing DEIA employees on administrative leave.
      • Paused grants across the agency that do not comply with President Trump’s executive orders.
      • Paused the Green Lender Initiative to reverse the previous Administration’s favoritism for Green New Deal ventures that did not support America’s return to energy dominance.
    3. Supporting the Department of Government Efficiency: SBA will continue working closely with President Trump’s DOGE as the federal government moves into a new era of accountability, transparency, and efficiency. SBA will prioritize eliminating fraud and waste within the agency, to ensure American taxpayer dollars are utilized in the most productive way possible to benefit small businesses and economic growth and resilience.
    4. Mandating full-time, in-office work for SBA employees: Pursuant to President Trump’s Return to In-Person Work presidential memorandum, SBA will require all employees, unless exempt, to return to their respective duty stations five days a week as of today, Monday, Feb. 24, 2025.
    5. Prioritizing workforce optimization: As part of the broader effort to support President Trump’s workforce optimization initiatives, SBA will continue to evaluate workforce reduction measures, including the overhaul of all advisory boards, to ensure the agency is operating with maximum efficiency to deliver results for U.S. taxpayers, small businesses, and those affected by disaster.
    6. Cracking down on fraud: SBA’s loan programs should be a powerful tool for empowering small business formation and delivering critical aid to disaster victims. The prior Administration left these programs with unaddressed fraud – including an estimated $200 billion in pandemic-era fraud. Starting today, the SBA will institute a zero-tolerance policy for fraud and investigate fraud across all programs. The agency has established a Fraud Working Group and will appoint a Fraud Czar to identify, stop, and claw back criminally obtained funds on behalf of American taxpayers – working across agencies to prevent fraud.

    Eliminating Wasteful Spending and Cracking Down on Fraud

    1. Conducting an agency-wide financial audit: As fraud has risen, so too have delinquencies, defaults, and charge-offs on loan programs, exacerbated by the previous Administration’s lax loan underwriting, servicing, and collection efforts. As a result, SBA has not satisfactorily completed a financial audit for several consecutive years. Therefore, the agency will request an independent audit of its financials to address mismanagement, restore the credibility of financial statements, and preserve the solvency of public-private programs like the 7(a) lending program and the Small Business Investment Company program, which are designed to drive economic growth without taxpayer subsidy.
    2. Protecting the solvency of loan programs and restoring underwriting standards: Likewise, SBA will review all options to protect the solvency of its lending programs, including revising practices that have jeopardized the zero-subsidy status of programs like 7(a). The agency will also restart its dormant collections programs effective immediately. Furthermore, SBA will restore its underwriting standards, ensuring taxpayer dollars only go to supporting eligible small businesses across America – by conducting a full review of current lending SOPs, ending the “Do What You Do” standard for lending, and enhancing oversight of non-bank lenders.
    3. Banning illegal aliens from receiving SBA assistance: Programs funded by American citizens should only benefit American citizens. Consistent with President Trump’s Ending Taxpayer Subsidization of Open Borders executive order, the agency will implement a policy banning illegal aliens from receiving any taxpayer-funded assistance from SBA – putting U.S. citizens and America first.
    4. Restricting hostile foreign nationals from accessing SBA assistance: Similarly, in the interest of national security, the agency will implement measures to prevent hostile foreign nationals, especially those with ties to the Chinese Communist Party, from accessing SBA assistance.

    Empowering Small Businesses

    1. Creating a strike force to cut regulation: For the first time in years, SBA will fully staff and empower the Office of Advocacy to utilize its power to identify and eliminate burdensome regulations promulgated by all federal agencies, as authorized by the Regulatory Flexibility Act, Small Business Regulatory Enforcement Fairness Act of 1996, the Congressional Review Act, and other statutes. The Administrator will work alongside the Chief Counsel for Advocacy to cut past and future regulations across the board and partner with all federal agencies to ensure they are working to reduce bureaucracy and costs for job creators and promote successful business formation.
    2. Improving SBA customer service, technology, and cybersecurity: Respecting that small businesses must perform for their customers, the SBA must meet performance standards across our own operations. Working with DOGE, the SBA will review the agency’s multiple digital interfaces. To streamline and improve user experience across all platforms, the agency will also review its technology for cybersecurity, response times, and customer satisfaction – including by collaborating with the White House on the application of artificial intelligence.
    3. Promoting fair competition by returning 8(a) contracting goals to statutory levels: The previous Administration increased the 8(a) federal contracting goal for Small Disadvantaged Businesses to an all-time high of 15%. This action unfairly tipped the scales against any small business that did not qualify as “disadvantaged,” negatively impacting many veteran-owned small businesses. As part of a broader effort to support competition and equal access to federal contracting for all small business owners, SBA has returned the 8(a) SDB contracting goal to its statutory level of 5%.
    4. Relocating regional offices out of sanctuary cities: To better serve Main Streets across America, especially in rural areas, SBA will relocate regional offices currently based in sanctuary cities to less costly, more accessible locations in communities that comply with federal immigration law. Additionally, Administrator Loeffler commits to personally visiting SBA’s regional offices and district offices – to facilitate a continuous dialogue with small business owners and hear directly from local job creators about real-world challenges and opportunities to support growth and innovation.
    5. Ending partisan voter registration activities: The SBA will end all taxpayer-funded voter registration activities – starting by rescinding the agency’s 2024 Memorandum of Understanding with the Michigan Secretary of State’s office, which forced SBA district offices to conduct partisan voter registration on behalf of the previous Administration. Instead, the agency will return its focus to its founding mission of empowering job creators, delivering disaster relief, and driving economic growth.

    # # #

     

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI Economics: African Development Bank and global public development banks to convene in Cape Town to advance climate resilience

    Source: African Development Bank Group

    WHAT:            Finance in Common Summit 2025

    WHEN:           February 26-28, 2025

    WHERE:         Cape Town, South Africa

    WHO:             The African Development Bank; senior leaders of 530 public development banks                                   representing 155 countries; global development and finance leaders

    The Fifth Finance in Common Summit (FiCS), co-hosted by the Development Bank of Southern Africa (DBSA) and the Asian Infrastructure Investment Bank (AIIB) with the support of Agence Française de Développement (AFD), will take place this year in Cape Town, South Africa from 26-28 February. The African Development Bank is a sponsor for the event.

    The African Development Bank President Dr Akinwumi Adesina will lead a delegation to the summit which has the theme, Fostering Infrastructure and Finance for Fair and Sustainable Growth. The theme aligns with the objectives of South Africa’s presidency of the G20: Solidarity, Equity, Sustainability.

    Dubbed a “Summit of Solutions,” the event will bring together institutions that manage US$23 trillion in assets (10% of global investments) to address critical infrastructure needs in climate-vulnerable regions and advance financial innovation and sustainable development, focusing on Africa and developing Asian nations. It will focus on three critical pillars: inclusive finance to reduce inequality, digital transformation to bridge technological gaps, and climate-resilient infrastructure development, all aimed at creating a more equitable and sustainable world.

    The African Development Bank delegation also includes Solomon Quaynor, Vice President for Private Sector, Infrastructure & Industrialization; Nnenna Nwabufo, Vice President for Regional Development, Integration and Business Delivery; Hassatou Diop N’Sele, Vice President for Finance and Chief Financial Officer; Leila Farah Mokaddem, Director General for Southern Africa and Moono Mupotola, Deputy Director General for Southern Africa, who will be speaking at sessions across the three days.

    The Finance in Common Summit, launched in 2020, represents the world’s largest gathering of public development banks.

    To request media interviews with members of the Bank’s delegation, please email the contact below.

    Click here to register for the event and more information.

    Join the conversation: #FiCS2025 #SustainableFinance

    MIL OSI Economics –

  • MIL-OSI United Nations: Experts offer guidance on using the World Heritage Convention in support of the Kunming-Montreal Global Biodiversity Framework

    Source: United Nations

    UNESCO convened an expert meeting to identify actions to harness the World Heritage Convention in support of the Kunming-Montreal Global Biodiversity Framework. The meeting confirmed the relevance of the World Heritage Convention to almost all of the 23 global targets of the Global Biodiversity Framework and made recommendations for further action, which will be presented to the World Heritage Committee at its 47th session.

    The 2019 Global Assessment Report of Biodiversity and Ecosystem Services issued by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) provided the scientific evidence that biodiversity is deteriorating worldwide at rates unprecedented in human history. Yet, biodiversity is fundamental to human well-being, a healthy planet, and economic prosperity.

    The World Heritage Convention is among the most successful site-based conservation instruments, with a significant contribution to biodiversity conservation, according to a UNESCO study.

    The Kunming-Montreal Global Biodiversity Framework adopted by the Parties to the Convention on Biological Diversity is a real opportunity for the biodiversity conventions to work together. We should make use of the extraordinary capacity of the World Heritage Convention to support biodiversity conservation.

    In response to the Committee’s decisions 45 COM 7.2 and 46 COM 7, UNESCO organized in collaboration with the Advisory Bodies an expert meeting on the synergies and opportunities between the World Heritage Convention and the Kunming-Montreal Global Biodiversity Framework. The workshop was hosted by the German Federal Agency for Nature Conservation (Bundesamt für Naturschutz) at its International Academy for Nature Conservation on the Isle of Vilm, Germany, and took place from 25 to 29 November 2024.

    The meeting experts reaffirmed the unique contribution of the World Heritage Convention to the conservation and sustainable use of biodiversity, and the relevance of the Global Biodiversity Framework to both natural and cultural sites. They identified a range of recommendations for the World Heritage Committee, States Parties, and the UNESCO Secretariat and Advisory Bodies, including 19 priority actions.

    Among the key actions, States Parties should integrate priorities for the implementation of the World Heritage Convention into their National Biodiversity Strategies and Action Plans, as requested by the World Heritage Committee (Decision 45 COM 7.2). This is important to ensure that current World Heritage properties and potential new sites become an international priority for dedicated funding mechanisms for the Global Biodiversity Framework.

    The Global Biodiversity Framework also sets targets for respecting the rights of Indigenous Peoples and local communities in biodiversity conservation and provides new opportunities for cultural sites to contribute to nature conservation. States Parties, Indigenous Peoples and World Heritage properties can work with initiatives such as the Joint Programme of Work on the links between Biological and Cultural Diversity to support the implementation of the targets.

    World Heritage properties often overlap with other international designations such as Ramsar wetland sites, Biosphere Reserves and UNESCO Global Geoparks. In addition, the protection and management of World Heritage properties may be relevant to the implementation of other biodiversity- or culture-related conventions, such as the Convention for the Safeguarding of the Intangible Cultural Heritage, Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) and the Convention on Migratory Species (CMS). Improved cooperation between the Conventions and programmes could create greater coherence and have results at a larger scale.

    The meeting was made possible thanks to the support of the German Federal Agency for Nature Conservation, and the financial contributions of the Swiss Federal Office for Environment (FOEN) and the Government of Norway to the World Heritage Fund.

    About the Kunming-Montreal Global Biodiversity Framework

    The 15th Conference of the Parties to the Convention on Biological Diversity (CBD), convened under the auspices of the United Nations, adopted the Kunming-Montreal Global Biodiversity Framework. Through four goals and 23 targets, it sets out an ambitious plan to take urgent action to halt and reverse biodiversity loss to put nature on a path to recovery for the benefit of people and planet by 2030, in line with the 2030 Agenda for Sustainable Development, and to ensure that the shared vision of living in harmony with nature is realised by 2050.

    About the Joint Programme of Work on the links between Biological and Cultural Diversity

    The Joint Programme of Work (JPoW) on the links between Biological and Cultural Diversity was initially adopted at COP10 of the CBD in 2010 to explore the links and opportunities for improving the protection of biological and cultural diversity. It was a way for UNESCO to help connect the nature and culture themes under the Aichi Targets, in cooperation with the Secretariat of the CBD. Parties at COP15 renewed the mandate of the JPoW, including inviting UNESCO, the Secretariat of the CBD, the IUCN, the International Indigenous Forum on Biodiversity (IIFB) and advisory bodies to work together on a roadmap for improve an integrated approach to supporting biodiversity, linguistic and cultural diversity. UNESCO is currently the lead agency for the International Decade of Indigenous Languages (2022-2032), providing an important platform to achieve such cooperation in policy and in action. 

    Summary recommendations 

    English

    Meeting report 

    English

    MIL OSI United Nations News –