Category: Economy

MIL-OSI Asia-Pac: Mobilizing Finance is Key to Achieving 500 GW Renewable Energy by 2030: Union Minister Pralhad Joshi

Source: Government of India

Mobilizing Finance is Key to Achieving 500 GW Renewable Energy by 2030: Union Minister Pralhad Joshi

Renewable Energy Financing Obligation is the need of the hour: Union Minister Joshi National Workshop on Mobilizing Finance for Renewable Energy Concludes in Mumbai

Posted On: 24 FEB 2025 6:25PM by PIB Mumbai

Mumbai : 24 February 2025

Mobilising finance is key to achieving 500 GW Renewable Energy by 2030, said Union Minister for New & Renewable Energy Shri Pralhad Joshi. He was addressing the National Workshop on Mobilizing Finance for Renewable Energy organised by Union Ministry of New and Renewable Energy in Mumbai today. Union Minister Joshi also called for collective efforts from financial institutions and policymakers to ensure accessible funding to Renewable Energy (RE) sector. The Minister along with the Minister of State, (MNRE), Shri Shripad Naik also addressed a Press Conference held in conjunction with the Workshop.

Highlights of the Workshop

The Minister stated that the idea for the workshop emerged after a review meeting chaired by Prime Minister Narendra Modi, where discussions focused on accelerating flagship schemes like PM Surya Ghar and PM-KUSUM. Highlighting the scale of India’s energy needs, Shri Joshi said that as the country aims to become the third-largest economy, its energy demand is expected to double. He stressed that renewable energy must be scaled up to match thermal energy production, ensuring a reliable and resilient power supply.

The Minister also spoke about India’s commitment to achieving Net Zero by 2070 and reaching 500 GW of non-fossil fuel-based capacity by 2030. He called upon financial institutions to align their lending policies with India’s renewable energy growth strategy and emphasized that carbon-intensive industries will face reduced export opportunities in the future. Shri Joshi noted that India has already made significant progress in renewable energy, with capacity increasing to 222 GW today. He pointed out that solar tariffs have drastically reduced, with a recent bid in Madhya Pradesh touching ₹2.15 per unit, compared to ₹11 per unit earlier. However, he stressed the importance of battery storage solutions to support large-scale renewable deployment.

Speaking on the role of decentralization, the Minister highlighted that PM-KUSUM and PM Surya Ghar empower farmers to become “Urjadata” (energy providers), while also reducing transmission losses. He urged banks to simplify financing processes, particularly for rooftop solar projects, and called for the introduction of a Renewable Energy Financing Obligation to ensure dedicated funding for the sector, similar to Renewable Purchase Obligations (RPOs) for discoms.
Shri Joshi underscored India’s leadership in green hydrogen (GH2), stating that the country has already received major export orders and is ahead of several developed nations in this field. He noted that global investors are increasingly looking at India as a preferred destination for manufacturing and clean energy investments, recognizing its young workforce and strong industrial capacity.

The Minister also highlighted Prime Minister Modi’s directive to engage global financial institutions for renewable energy investments, citing India’s recent success in securing commitments worth ₹34.5 lakh crore during a global RE summit in Gandhinagar. He emphasized that the transition to renewable energy is not optional—it is a necessity.Concluding his address, Shri Pralhad Joshi called for a national movement in renewable energy financing, stating that PM Surya Ghar is not just a scheme but an Andolan (movement). He urged financial institutions to streamline lending processes, reduce unnecessary compliance burdens, and adopt a more supportive approach towards financing clean energy projects.

Union Minister of State for Power and New & Renewable Energy Shri Shripad Y Naik said that achieving 500 GW of renewable energy by 2030 will require an investment of approximately ₹30 lakh crore, covering infrastructure, transmission, and storage systems. He urged the stakeholders to adopt innovative financing models, extend flexible lending terms, and prioritize green investments that will accelerate our energy transition.

In her context setting speech, Secretary MNRE Smt. Nidhi Khare emphasized the critical role of affordable finance, green bonds, and innovative funding models in driving India’s renewable energy transition.

The National Workshop on Mobilizing Finance for Renewable Energy featured four key sessions focused on addressing financing challenges in the renewable energy sector. The first session examined the financing landscape for utility-scale renewable energy (RE) projects, assessing challenges faced by developers, banks, and NBFCs in securing funding. Discussions covered interest rates, perceived risks, and potential solutions for financial institutions to support large-scale RE projects. The second session focused on financing new and emerging RE technologies, such as offshore wind, floating solar, and green hydrogen. Panelists, including experts from NABARD, and leading financial institutions, discussed capital allocation strategies, policy interventions, and mechanisms to reduce financial risks for private sector investments in these technologies.

The third session addressed financing challenges for Distributed Renewable Energy (DRE) and innovative RE applications, including rooftop solar, canal-top PV, and Agri-PV. Experts explored financing constraints for startups, perceived investment risks, and policy support required to scale up these solutions. The final session focused on regulatory and capacity-building measures for banks and NBFCs, discussing RBI guidelines, sector-specific lending policies, and strategies to enhance financing in consumer-oriented RE applications. Stakeholders highlighted the need for better regulatory frameworks, risk-sharing mechanisms, and financial instruments to unlock capital for India’s renewable energy ambitions. The discussions reinforced the necessity of collaborative efforts among policymakers, financial institutions, and industry leaders to mobilize large-scale investments and achieve India’s target of 500 GW of non-fossil fuel energy by 2030.

The discussions led to several key takeaways, including the need for lower-cost financing, improved access to global climate funds, and enhanced risk-sharing mechanisms for new technologies. Participants also stressed the importance of strengthening public-private partnerships and expanding green financial instruments to support India’s clean energy transition. The event concluded with a commitment from all stakeholders to work towards innovative financing models and policy frameworks that can unlock large-scale investments in the renewable energy sector.

Senior officials from major public and private sector banks such as State Bank of India, Union Bank of India, HDFC Bank, ICICI Bank, Bank of India, Bank of Baroda, Canara Bank, UCO Bank, IDFC Bank, IDBI Bank, AU Small Finance Bank, Axis Bank, Punjab National Bank, Indian Overseas Bank, Indian Bank, Central Bank of India, Punjab & Sind Bank, Jammu & Kashmir Bank and Bank of Maharashtra also attended the event.

The workshop marked a significant step toward ensuring that financial constraints do not hinder India’s renewable energy ambitions, reaffirming the government’s commitment to a clean, sustainable, and financially inclusive energy future. The workshop provided a platform for key stakeholders, including banks, NBFCs, policymakers, and industry leaders, to discuss strategies for mobilizing large-scale

investments in renewable energy. Participants reiterated their commitment to supporting India’s clean energy transition, ensuring energy security, economic growth, and environmental sustainability. The event marked a significant step in bridging the financial gap for renewable energy projects, reinforcing India’s position as a global leader in the clean energy revolution.

Dhanlaxmi/Preeti

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MIL OSI Asia Pacific News –

February 25, 2025
MIL-OSI: Redwood Services Announces 17th Partnership with Indiana-Based Hope Plumbing

Source: GlobeNewswire (MIL-OSI)

MEMPHIS, Tenn., Feb. 24, 2025 (GLOBE NEWSWIRE) — Redwood Services (“Redwood”), an established home services firm focused on investing in leading HVAC, plumbing, and electrical services companies in growing U.S. markets, announced that it has partnered with Hope Plumbing. This partnership marks Redwood’s seventeenth platform investment, highlighting the company’s ongoing growth and commitment to expansion.

Hope Plumbing, based in Indianapolis, has built a loyal customer base by providing quality service since 2007. The company has experienced remarkable growth in recent years, doubling revenue and achieving substantial bottom-line results. With an established and capable management team in place to sustain current operations and implement plans for further infrastructure development, Redwood is looking forward to supporting even further growth for the Indiana area.

“Redwood and Hope Plumbing share many core values, such as delivering exceptional services to customers and cultivating a growth-driven culture,” said Richard Lewis, CEO of Redwood Services. “We are excited to be part of Hope Plumbing’s continued growth and to support this impressive management team.”

“Hope Plumbing has experienced tremendous growth over the years, and we are ready to build on that momentum to ensure we reach our potential,” said Jack Hope, Co-President of Hope Plumbing. “Under the guidance of Redwood’s leadership and support, our partnership will help us continue to perfect our craft and exceed customer expectations.”

Hope Plumbing is one of the most recognized home service brands in Indianapolis and has more than doubled in size since 2021. With over 5,000 Google reviews and an average rating of 4.9, the Hope team also has a history of delivering exceptional customer service.

Owners Jack Hope and Brad Persic will retain a significant minority ownership stake as part of the investment. The Hope Plumbing team will continue to operate and manage the business under its banner and name, while Redwood will offer operational, strategic, and financial support to enhance the company’s growth.

About Redwood Services
Founded in 2020 and headquartered in Memphis, Redwood Services is a nationwide people-focused platform dedicated to empowering elite contractors in the essential home services industry. Redwood provides world-class resources, coaching, and strategic partnerships to 17 leading companies across the United States, enabling its partners to deliver exceptional HVAC, plumbing, and electrical services to residential customers. Redwood’s mission is to unleash the full potential of its partners, supporting them in providing high-quality service and building lasting relationships with customers. For more information, visit www.redwoodservices.com.

From left to right: Raj Midha, David Katz, Adam Hanover, Richard Lewis, Jack Hope, Sue Reas, Brad Persic, Scott Brinkley, John Conway, Sandra Koblas, Shaun Hardick

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/21b6289b-ba25-4095-ae52-da2e4a11287e

The MIL Network –

February 25, 2025
MIL-OSI: Bybit Web3 Launches Largest SpaceS Airdrop to Date: 45 Million Web3 Points With Mantle and Pengu

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, Feb. 24, 2025 (GLOBE NEWSWIRE) — SpaceS, Bybit Web3‘s innovative Telegram game bot, is launching its largest airdrop campaign to date, offering 45 million Bybit Web3 Points to celebrate a community of over 3 million players. Running until March 10 and exclusively available to SpaceS Points holders, this initiative marks the first-ever distribution of Web3 Points – a utility token with tangible financial value that unlocks new engagement opportunities.

While the familiar FarmX mechanics remain unchanged, rewards will now be delivered as Web3 Points directly to users’ wallets. Once received, every 1,000 Web3 Points earns one raffle entry, which can be redeemed via the campaign website for a chance to win exclusive prizes. This means any Telegram user can seamlessly create a Web3 Ton wallet on Bybit, and stand a chance to earn crypto tokens, such as MNT, PENGU, as well as NFTs through a raffle, simplifying their crypto journey.

Bybit Web3 Points serve as a dynamic reward system, enabling participation in lucky draws featuring tokens such as MNT and Pengu. Previous campaigns rewarded holders with exclusive NFTs, and future rewards are already in the pipeline. This airdrop is designed to seamlessly integrate the TON ecosystem with the Bybit Web3 ecosystem – users simply need a Bybit Wallet to earn and redeem their points.

To further support the transition from Web2 to Web3, Bybit has introduced the Bybit TG Mini Wallet, fully integrated with SpaceS. This new tool simplifies onboarding for newcomers and reinforces Bybit’s mission to bridge the gap between traditional and decentralized platforms.

FarmX Airdrop Success and Enhanced Opportunities
Building on the success of earlier FarmX Airdrop campaigns – which distributed over $150,000 in rewards (including PinEye, Flock, ANIME, and USDT) to more than 80,000 participants – this latest campaign features an increased reward pool and broader participation. Participants can redeem their Web3 Points for lucky draw entries either through the dedicated landing page on Bybit Web3’s website or via the Discover section in the Bybit App. With a prize pool of 100,000 $MNT and 10,000,000 $PENGU, each draw could yield up to 100 MNT or 10,000 PENGU.

Bybit’s Vision for Web3 Gaming
“Our largest airdrop yet underscores our commitment to continuous innovation and enhanced utility for our community,” said Emily Bao, Head of Spot and Web3 at Bybit. “By introducing Web3 Points – tokens with clear, tangible financial value – we are setting a new benchmark in rewards and engagement in the Web3 space.”

With the ongoing success of SpaceS and the expansion of its airdrop campaigns, Bybit is solidifying its leadership in Web3 gaming and rewards by delivering immersive experiences and strengthening its decentralized ecosystem.

More information about Bybit Web3 Points is available on the website.

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.

Exploring the possibilities of Web3 future with Bybit.

For more details about Bybit Web3, users can visit Bybit Web3.

About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Contact

Head of PR
Tony Au
Bybit
tony.au@bybit.com

The MIL Network –

February 25, 2025
MIL-OSI USA: Boozman, Schmitt, Van Hollen Champion Bipartisan Legislation to Support Americans With Disabilities

US Senate News:

Source: United States Senator for Arkansas – John Boozman
WASHINGTON––U.S. Senator John Boozman (R-AR) partnered with Senators Eric Schmitt (R-MO) and Chris Van Hollen (D-MD) to introduce theEnsuring Nationwide Access to Better Life Experience (ENABLE) Act, bipartisan legislation to make several provisions related to Achieving a Better Life Experience (ABLE) savings accounts permanent.
ABLE accounts allow Americans with disabilities and their families to utilize tax-free savings programs without losing eligibility for federal programs such as Medicaid and Supplemental Security Income.
“Individuals with disabilities and their loved ones need flexibility to help meet financial needs. Giving them that opportunity is common sense and I’m pleased to support a bipartisan effort to ensure they can continue to save for the future and achieve financial security free from costly penalties,” said Boozman.
“I was proud to lead the introduction of the ENABLE Act in the 118th Congress, where this critical legislation passed the Senate. I entered public service to fight for people like my son Stephen. Stephen was born with a rare genetic disease, is on the autism spectrum, has epilepsy, and is non-verbal. I know firsthand how critical ABLE accounts are to individuals with disabilities and their families. ABLE accounts allow individuals with disabilities to save for their future and ease burdens on their families. It’s a common-sense solution that provides an easy fix for those who depend on ABLE accounts, and I’m proud to have bipartisan, bicameral support for this important piece of legislation,” said Schmitt.
“I worked alongside a bipartisan coalition to create the ABLE Program over a decade ago to expand financial tools for people with disabilities and their families. Since then, it has helped empower more than a hundred thousand Americans and provide greater flexibility for families to support loved ones with disabilities. Making these key ABLE provisions permanent will build on the success of the ABLE Act and allow these Americans and many more to continue growing their savings and strengthening their economic independence,” said Van Hollen.
The ENABLE Act will make the below provisions that are set to expire this year permanent:
529 to ABLE Rollover: Permits an individual with a disability to rollover savings from a 529 education savings account to an ABLE account that are less than or equal to the annual ABLE contribution limit tax and penalty free;
ABLE Saver’s Credit: Permits an individual with a disability who makes qualified contributions to an ABLE account eligible for a nonrefundable saver’s credit of up to $1,000; and
ABLE to Work: Permits an individual with a disability who is employed to contribute an additional amount to his or her ABLE account provided it is not greater than either the prior year’s federal poverty level for a one-person household ($15,060 in 2024), or the beneficiary’s yearly compensation.
The legislation is cosponsored by Senators Tommy Tuberville (R-AL), Tim Kaine (D-VA), Katie Britt (R-AL), Amy Klobuchar (D-MN), Thom Tillis (R-NC), John Fetterman (D-PA), Dan Sullivan (R-AK), Chris Coons (D-DE), Raphael Warnock (D-GA), Jerry Moran (R-KS) and Mark Kelly (D-AZ).
Congressmen Lloyd Smucker (R-PA-11) and Don Beyer (D-VA-08) have introduced companion legislation in the U.S. House of Representatives.
Click here to view the text of the bill

MIL OSI USA News –

February 25, 2025
MIL-OSI USA: Boozman, Scott, Hill Work to Roll Back Biden-Era CFPB Overdraft Rule

US Senate News:

Source: United States Senator for Arkansas – John Boozman

WASHINGTON––U.S. Senator John Boozman (R-AR), Senate Banking Committee Chairman Tim Scott (R-SC) and House Financial Services Committee Chairman French Hill (R-AR-04) introduced a Congressional Review Act (CRA) resolution to overturn the Biden administration’s Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees at banks and credit unions, citing the rule’s damaging impact on access to important financial services.

“The CFPB’s overreach is well established and only intensified during the Biden administration. Instead of bringing more consumers into the banking system, this overdraft rule will push them away to unregulated lenders and I’m pleased to join my colleagues to block it,” said Boozman.

“The Biden administration’s CFPB routinely targeted legitimate payment incentives and practices in pursuit of political headlines over sound policies. The overdraft rule was yet another example – many consumers rely on overdraft services to make ends meet and limiting this practice will push Americans to riskier financial products. I’m proud to lead the effort to overturn this misguided rule and protect Americans’ access to important financial services,” said Scott.

“As I have consistently said, the CFPB needs guardrails on its enforcement and rulemaking powers, and this rule is another clear example of why. The CFPB’s actions on overdraft is another form of government price controls that hurt consumers who deserve financial protections and greater choice. Our CRA will help overturn this harmful rule and is a next step toward ensuring the CFPB halts all ongoing rules until it answers to Congress, just like any other non-independent federal agency,” said Hill.

The resolution is also supported by Senators Mike Crapo (R-ID), Roger Wicker (R-MS), Jim Risch (R-ID), Jerry Moran (R-KS), Thom Tillis (R-NC), Kevin Cramer (R-ND), Cynthia Lummis (R-WY), Bill Hagerty (R-TN), Katie Britt (R-AL) and Pete Ricketts (R-NE).

The CRA has the support of key stakeholders including the Consumer Bankers Association, the Independent Community Bankers of America, the American Bankers Association and America’s Credit Unions.

A CRA resolution is a tool used by Congress to eliminate onerous regulations imposed by the executive branch through an expedited procedure for consideration in the Senate. A joint resolution of disapproval under the CRA is afforded special privileges that bypass normal Senate rules and allow for a vote on the Senate floor. When a CRA resolution is approved by a simple majority in both chambers of Congress and signed by the president – or if Congress successfully overrides a presidential veto – the rule is invalidated.

Click here for full text of the resolution

MIL OSI USA News –

February 25, 2025
MIL-OSI: CPS to Host Conference Call on Fourth Quarter 2024 Earnings

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS, Nevada, Feb. 24, 2025 (GLOBE NEWSWIRE) — Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that it will hold a conference call on Wednesday, February 26, 2025 at 1:00 p.m. ET to discuss its fourth quarter 2024 operating results.

Those wishing to participate can pre-register for the conference call at the following link https://register.vevent.com/register/BI34e818cf84a24e118241657af74dd2d4. Registered participants will receive an email containing conference call details for dial-in options. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the schedule start time. A replay will be available beginning two hours after conclusion of the call for 12 months via the Company’s website at https://ir.consumerportfolio.com/investor-relations.

About Consumer Portfolio Services, Inc.

Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives.

Investor Relations Contact

Danny Bharwani, Chief Financial Officer

949-753-6811

The MIL Network –

February 25, 2025
MIL-Evening Report: Trump, Putin and Musk all share a leadership style – we’ve figured out what it is

Source: The Conversation (Au and NZ) – By Andrei Lux, Lecturer of Leadership and Research Cluster Lead, Edith Cowan University

Dictatorships would appear to be on the rise. Russian president Vladimir Putin, US president Donald Trump and even un-elected tech entrepreneur, Elon Musk are ruling by decree like “kings”.

Some might naively call these leaders “authentic” for saying and often doing what they believe. But that’s not the whole story.

Such unilateral decisions are deeply divisive, and often opposed. In the US, the federal court blocked Trump’s executive order banning workplace diversity, equity and inclusion programs to try to contain the damage.

Researchers used to think that authenticity was inherently good and moral. But as authentic leadership research gets more sophisticated with robust experimental methods, what we know about this powerful approach is changing quickly.

Experiments use controlled simulations and real-world field trials to show how leadership behaviour influences followers. These new methods are the gold standard for establishing cause-and-effect relationships, and they’re challenging old ideas.

Authentic leadership redefined

After 20 years of research, we’ve redefined authentic leadership as a process of sending leadership “signals”. What leaders say and do sends powerful messages about their values.

In a digital age where every tweet and public act is scrutinised, understanding these signals is important for employees and voters. And keeping up with this new way of expressing authentic leadership is vital for anyone seeking to lead in today’s volatile world.

In our latest article, we looked at what authentic leadership involves and why signalling is so important.

But what exactly is “signalling”?

Sending leadership ‘signals’

Everything leaders do or say – how they behave, express themselves, look, and communicate – sends messages to everyone watching. These messages are “signals”. Leaders influence their followers by sending signals that will trigger specific thoughts or emotions.

But executive life is complex and full of inherent contradictions between personal authenticity and the demands of leadership roles.

High-profile figures such as Musk and Trump show how leadership signals can be polarising. Just last week Musk used his social media platform X (formerly Twitter) to call for an unconstitutional election in Ukraine.

Musk’s edicts and announcements have prompted demonstrations around the US.
Rena Schild/Shutterstock

Signalling authentic leadership

Demonstrating authentic leadership depends on sending clear, observable signals that reflect the leaders’ principles and ethical convictions.

Here are some tips for spotting authentic leadership signals in everyday interactions. It is notable that it’s easier to find examples of leaders displaying the complete opposite.

1. Self-awareness

Leaders signal self-awareness by regularly seeking honest feedback and reflecting on their own strengths and weaknesses. They openly acknowledge mistakes and share their learning. They value personal growth and continuous improvement.

Instead, Trump repeatedly ignores his own mistakes, even after they are exposed. His latest claim to be debunked was that Ukrainian President Zelensky’s approval was 4%, while his actual approval is closer to 60%.

2. Internal moral perspective

Leaders signal an internal moral perspective by making decisions – even if they are unpopular – firmly rooted in core ethical values. Upholding these values and encouraging open discussions on ethics is a principled approach to leadership.

Instead, Musk has given federal workers 48 hours to justify their employment. The directive leaves little room for open dialogue on the ethical rationale or moral implications of such a drastic measure. He relies, instead, on top-down command.

Key federal agencies including the FBI and Pentagon have told employees to ignore the email.

3. Balanced processing

Leaders signal balanced processing by seeking different views and considering all options before making a decision. Admitting any biases and using team brainstorming or surveys, ensures fair and informed decision-making.

Instead, Trump has signed more than 50 executive orders since taking office in January. These include some that are unlawful, as an open display of personal bias and unilateral decision-making.

4. Relational transparency

Leaders signal relational transparency by sharing appropriate personal experiences and vulnerabilities with their teams. Being honest about limitations and inviting open dialogue builds trust through genuine and consistent communication.

Instead social media guru, Mark Zuckerberg, another Trump ally, assured staff his charity the Chan Zuckerberg Initiative would continue its commitment to diversity, equity and inclusion. Then, only weeks later, he dismantled it.

You can’t just fake it, either

Leadership signals can convey honest information or be manipulated to send contrived messages.

Trying to fake it doesn’t work. Leadership behaviour has to align with the leaders’ real values and internal sense of self – otherwise it’s not authentic leadership. It’s just impression management.

Learning the difference empowers us to understand leaders’ actions and better navigate the post-truth era of global business and politics.

Andrei Lux works for Edith Cowan University and is a Member of the Australian and New Zealand Academy of Management.

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

– ref. Trump, Putin and Musk all share a leadership style – we’ve figured out what it is – https://theconversation.com/trump-putin-and-musk-all-share-a-leadership-style-weve-figured-out-what-it-is-250502

MIL OSI Analysis – EveningReport.nz –

February 25, 2025
MIL-OSI Global: Canada’s productivity strategy needs to centre workers
Source: The Conversation – Canada – By Ako Ufodike, Associate Professor, Administrative Studies, York University, Canada

As Canada moves into 2025, its productivity still lags, despite efforts by the federal government to address the issue in the 2024 federal budget.

Canada’s productivity has declined in nine of the last 10 quarters. Between 2015 and 2023, Canadian productivity fell by an average of 0.8 per cent per year. This means that, for every hour worked by Canadian employees, their output decreased by about eight per cent over that entire period.

Labour productivity measures how much an economy produces per hour of work. Increasing productivity means finding ways to help people create more value in the time they spend working. However, how productivity is measured — and who benefits from productivity stimulation initiatives — varies.

Read more:
Canada’s lagging productivity affects us all — and will take years to remedy

From an employer’s perspective, the main factor influencing productivity is the number of hours worked. For employees, the best proxy is wages received per hour worked — two related variables with differing implications.

To date, Canada’s strategy to improve productivity has been very traditional, in that its primary aim has been to provide incentives for improved business performance.

Global productivity issues

Canada’s productivity stagnation struggles are not unique. A December 2024 OECD working paper highlighted a widespread slowdown across the OECD nations.

From 1995 to 2023, ouputs from labour and capital inputs — know as multifactor productivity — declined sharply in both small and large advanced OECD countries.

In Australia, Austria, Belgium, Canada, France, Spain and the United Kingdom, productivity has nearly stalled. Greece, Italy, Luxembourg and Mexico experienced prolonged periods of negative growth.

The OECD paper also found a link between productivity decline and stagnating human capital development. Since 2003, young citizens of OECD countries have underperformed on standardized tests in science, math and reading.

At the same time, many skilled immigrants to these countries are selected from the sciences and must score exceptionally high on language proficiency exams such as the International English Language Testing System.

This raises questions about how countries assess and utilize human capital, and whether traditional productivity measures fully capture workforce potential.

Innovation in productivity approaches

Innovation improves productivity, yet Canada’s 2024 budget fails to embrace this principle. The 2024 budget prescribed five main strategies to address Canada’s productivity issues:
- incentives for entrepreneurs;
- fiscal incentives for productivity-enhancing assets;
- regulatory sandboxes to reduce bureaucratic red tape;
- enhanced federal research support;
- a $200-million investment in the Venture Capital Catalyst Initiative.
However, the initiatives largely continue to follow the traditional approach which focuses on incentivizing businesses to increase output, rather than focusing on workers — the factor most relevant to productivity.

One of the budget’s major assumptions, which has so far failed to materialize, was that productivity would grow by 1.8 per cent between 2024 and 2028, despite a 1.8 per cent decline over the previous three years and a 0.8 per cent decline over the preceding decade.

Another overlooked factor is that declining wages also decrease productivity. Instead of focusing solely on business incentives, a more effective labour-agency approach would also incentivize those who own the denominator in the productivity formula — workers.

Addressing immigrant underemployment

Immigrants are the primary drivers of population growth in most OECD countries, yet many end up in precarious employment or underemployed, despite being exceptionally qualified.

Even when immigrants are employed at the appropriate level, many are underpaid in comparison to non-immigrant workers or their predecessors in the same roles. This wage suppression is at odds with efforts to improve productivity.

Read more:
I’ve worked in precarious jobs for more than 10 years – here’s what unions should do to support migrant workers

This issue is particularly evident in Canada, where conversations about productivity are being shaped by immigration trends. In 2023, Canada welcomed one million new immigrants without a corresponding increase in economic output. From July 2023 to July 2024, immigrant underemployment rose by 3.1 to 12.6 per cent.

Labour market integration varies across regions. In Alberta, for example, 80 per cent of new jobs between 2018 and 2022 were filled by immigrants, yet, productivity did not rise.

Some critics have blamed immigrants for Canada’s productivity struggles, but this narrative risks fostering anti-immigrant sentiment. While population growth may contribute to declining per capita productivity, in reality, many highly qualified immigrants end up underemployed or unemployed through no fault of their own.

A 2024 Statistics Canada report highlighted this missed economic opportunity, stating: “recent immigrants were more likely than people born in Canada to be employed in professional occupations and lower-skilled and labourer occupations.”

Despite this, the 2024 budget doesn’t address harmful “unproductive immigrant” narratives.

Driving productivity growth

Canada’s current approach to productivity is incomplete. While business incentives play a role, productivity growth cannot be achieved without investing in workers — particularly immigrants, who represent a growing share of the workforce.

Canada and other OECD nations are missing an opportunity by failing to fully utilize immigrant talent. Rather than blaming immigrants for productivity declines, countries should recognize immigrants as valuable contributors. Proper credential recognition and expanding workforce integration programs could allow immigrants to contribute at their full economic potential.

Read more:
Canadian immigrants are overqualified and underemployed — reforms must address this

A truly innovative productivity strategy would fund reskilling, upskilling and mentorship programs for immigrants and youth. It would also support equity initiatives to ensure immigrants aren’t exploited or paid less than their counterparts.

Improving career mobility is also essential. Helping immigrants transition into high-output sectors, such as technology or engineering, through retraining programs and targeted incentives could strengthen productivity.

Addressing wage inequity is also crucial. Ensuring immigrants receive fair wages aligned with their qualifications will improve worker motivation and productivity, consistent with the arguments of efficient wage theory.

If these issues remain unaddressed, Canada risks continued productivity stagnation by overlooking a key opportunity to harness the potential of its immigrant workforce.

Ako Ufodike receives funding from Social Sciences and Humanities Research Council.

– ref. Canada’s productivity strategy needs to centre workers – https://theconversation.com/canadas-productivity-strategy-needs-to-centre-workers-249669
MIL OSI – Global Reports –
February 25, 2025
MIL-OSI: Alpha Sigma Capital Research Publishes New Report on XNET Mobile (XNET) and the Future of Decentralized Wireless (DeWi)
Source: GlobeNewswire (MIL-OSI)

Tampa, FL, Feb. 24, 2025 (GLOBE NEWSWIRE) — Alpha Sigma Capital Research has released an in-depth report on XNET Mobile (XNET), a pioneering force in the decentralized wireless (DeWi) industry. As mobile data consumption continues to surge, traditional mobile network operators (MNOs) and mobile virtual network operators (MVNOs) face increasing challenges in scaling their infrastructure efficiently. XNET is addressing this critical industry need with an innovative blockchain-powered solution that enhances network capacity while reducing reliance on costly physical infrastructure.

Key Highlights from the Report:
- Seamless Connectivity: XNET enables over 150 million mobile devices to connect automatically, leveraging blockchain-based incentives and carrier-grade hardware.
- Scalable Data Offloading: Provides a cost-effective solution for MNOs and MVNOs to offload data through carrier-grade WiFi and LTE/5G interconnects.
- Strategic Partnerships: Direct partnership with AT&T exemplifies XNET’s ability to integrate with traditional MNOs and enhance network scalability.
- Decentralized Network Expansion: Uses WiFi 6+ and Citizens Broadband Radio Service (CBRS) networks to enhance connectivity in underserved and high-traffic areas.
- Blockchain-Powered Model: Operates on Solana, allowing communities and entrepreneurs to build network infrastructure while earning tokenized incentives.
- Industry Disruption: XNET’s approach challenges traditional mobile infrastructure models, providing a sustainable and decentralized alternative.
Despite liquidity challenges in the broader Decentralized Physical Infrastructure Networks (DePIN) sector, which have impacted the performance of the $XNET token, XNET remains uniquely positioned for long-term growth.
“The mobile wireless industry has remained relatively unchanged for decades, and XNET is bringing a much-needed shift in how connectivity is built and managed,” said Enzo Villani, CEO, at Alpha Sigma Capital. “By utilizing blockchain technology and a decentralized model, XNET is providing a sustainable solution to meet the growing demand for high-speed, reliable mobile connectivity.”

To read the full research report, visit [LINK].

Stay connected with ASC Research on Substack. Subscribe at Alpha Sigma Capital Research | Substack.

About Alpha Transform Holdings
Alpha Transform Holdings (ATH) is a leading digital asset investment firm, combining strategic advisory, research, and capital investment to drive innovation in Web3 and blockchain.

About Alpha Sigma Capital Research
Active Investing in the Blockchain Economy.™

Alpha Sigma Capital Research is provided by Alpha Sigma Capital Advisors, LLC, the Investment Manager for the Alpha Blockchain/Web3 Fund and Alpha Liquid Fund. Alpha Sigma Capital (ASC) investment funds are focused on emerging blockchain companies that are successfully building their user-base, demonstrating real-world uses for their decentralized ecosystems, and moving blockchain technology towards mass-adoption. ASC is focused on companies leveraging blockchain technology to provide value-add in areas such as fintech, AI, supply chain, and healthcare. Apply to receive research at www.alphasigma.fund/research.

DISCLAIMER
This is for informational use only. This is not investment advice. Other than disclosures relating to Alpha Transform Holdings (ATH) and Alpha Sigma Capital (ASC) this information is based on current public information that we consider reliable, but we do not represent it as accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our information as appropriate.

Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company’s financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this press release.

The information on which the information is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, the company website, the company white paper, pitchbook, and any other sources. While Alpha Sigma Capital has obtained data, statistics, and information from sources it believes to be reliable, Alpha Sigma Capital does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
Unless otherwise provided in a separate agreement, Alpha Sigma Capital does not represent that the contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Alpha Sigma Capital and its officers, directors, and employees shall not be responsible or liable for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.

Crypto and/or digital currencies involve substantial risk, are speculative in nature, and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.

The MIL Network –
February 25, 2025

MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Angola

Source: IMF – News in Russian

February 24, 2025

Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Angola.

Angola’s economy recovered in 2024 as the oil sector rebounded. GDP growth is estimated to have reached 3.8 percent, surpassing earlier projections, and the recovery broadened to the non-oil sector. The public debt-to-GDP ratio declined in 2024, benefiting from higher nominal GDP growth and sustained primary surpluses. However, fiscal consolidation efforts waned, and buffers built during the 2018–21 EFF—supported program are being eroded by fiscal slippages from higher capital expenditures and a slower fuel subsidy reform.

Inflation remained elevated driven by exchange rate pressures and higher food prices. The central bank raised monetary policy rate by 150 bps in 2024 and streamlined liquidity management, resulting in a better alignment of the interbank rate with the policy rate. The currency depreciated by over 10 percent against the U.S. dollar in 2024. Adverse market expectations and a high external debt service continue to weigh on the exchange rate. The government’s active cash and debt management helped mitigate liquidity pressures.

The recovery is expected to continue but risks to the outlook remain high. Growth is expected to remain at 3 percent in 2025 while inflation is projected to ease with the fading of cost-push factors. The resolution of maintenance bottlenecks in key extraction blocks and government-led efforts to incentivize production should help sustain oil production. However, high external debt service constrains development spending, and oil dependence remains a drag on sustainable growth. Liquidity risk could intensify should financing conditions deteriorate, further crowding out social spending, and exerting pressures on the exchange rate. Moreover, with presidential elections scheduled for 2027, an early start of the political cycle risks slowing down the implementation of economic reforms. On the upside, higher oil prices, positive spillovers from further global monetary policy easing, and stronger non-oil FDIs, including through the Lobito Corridor development, could improve the medium-term outlook.

Executive Board Assessment[2]

“Executive Directors agreed with the thrust of the staff appraisal. While welcoming the economic recovery, they highlighted the continued risks from oil price volatility and debt vulnerabilities. Against this background, Directors emphasized the urgency of accelerating structural reforms to strengthen macroeconomic and financial stability and foster diversified and inclusive growth.

“Directors stressed that returning to a fiscal consolidation path is critical to strengthen buffers and create space for development needs. They emphasized the importance of fully implementing fuel subsidy reforms accompanied by mitigating measures to protect the most vulnerable and intensifying non‑oil revenue mobilization efforts. Directors also advised rationalizing public investment and improving spending efficiency in line with the 2019 PIMA recommendations, strengthening public financial management, including the procurement framework and SOE reforms, and improving cash and debt management to mitigate liquidity risks and support a timely return to markets.

“Directors stressed the need for monetary policy to maintain a tightening bias to ensure durable disinflation. They called on the authorities to strictly adhere to the ceiling on government loans to safeguard international reserves and contain inflationary pressures. Directors welcomed the authorities’ efforts to streamline liquidity management to enhance monetary policy transmission, as well as to improve foreign exchange market functioning and exchange rate flexibility as part of the transition toward an inflation‑targeting framework.

“Directors underlined the need to continue addressing financial sector vulnerabilities. They called on the authorities to address AML/CFT weaknesses to achieve swift removal from the FATF grey list. Directors emphasized the importance of effectively implementing new supervisory regulations and developing a robust financial stability framework, including strengthened safety nets. They advised addressing remaining vulnerabilities from the sovereign‑bank nexus, high NPLs, and problem banks, and looked forward to the upcoming FSAP assessment.

“Directors supported the authorities’ National Development Plan to achieve more diversified and resilient growth. A key focus should be on market‑friendly policies to streamline business regulations, enhance governance, fight corruption, develop human capital, and deepen financial inclusion. Stronger statistical capacity is also needed to support sound policy making.

It is expected that the next Article IV consultation with Angola will be held on the standard 12‑month cycle.”

Angola: Selected Economic Indicators, 2023–25
	2023	2024	2025
		Prel.	Proj.
Real economy (percent change, except where otherwise indicated)
Real gross domestic product	1.0	3.8	3.0
Oil sector	-2.4	3.2	0.3
Non-oil sector	2.2	3.9	3.4
Nominal gross domestic product (GDP)	14.6	33.3	24.3
Oil sector	9.5	33.7	17.4
Non-oil sector	15.5	33.2	25.6
GDP deflator	13.4	28.5	20.8
Non-oil GDP deflator	14.4	28.2	21.3
Consumer prices (annual average)	13.6	28.2	21.0
Consumer prices (end of period)	20.0	27.5	18.9

Central government (percent of GDP)
Total revenue	17.4	16.6	16.0
Of which: Oil-related	10.3	10.0	9.7
Of which: Non-oil tax	6.1	5.6	5.0
Total expenditure	19.2	17.6	17.3
Current expenditure	15.2	14.1	12.4
Capital spending	4.1	3.6	4.9
Overall fiscal balance	-1.9	-1.0	-1.3
Non-oil primary fiscal balance	-6.4	-5.7	-7.2

Money and credit (end of period, percent change)
Broad money (M2)	37.8	30.6	38.5
Percent of GDP	20.8	20.4	22.7
Velocity (GDP/M2)	4.8	4.9	4.4
Velocity (non-oil GDP/M2)	4.1	4.1	3.8
Credit to the private sector (annual percent change)	28.8	28.1	27.0

Balance of payments
Trade balance (percent of GDP)	19.9	19.7	17.0
Exports of goods, f.o.b. (percent of GDP)	33.6	33.1	31.5
Of which: Oil and gas exports (percent of GDP)	31.6	30.9	28.6
Imports of goods, f.o.b. (percent of GDP)	13.8	13.4	14.5
Terms of trade (percent change)	-19.3	-4.0	-10.4
Current account balance (percent of GDP)	3.8	4.1	2.4
Gross international reserves (end of period, millions of U.S. dollars)	14,727	15,227	15,277
Gross international reserves (months of next year’s imports)	7.3	7.3	7.3

Exchange rate
Official exchange rate (average, kwanzas per U.S. dollar)	685	876	…
Official exchange rate (end of period, kwanzas per U.S. dollar)	829	924	…

Public debt (percent of GDP)
Public sector debt (gross)¹	71.4	62.4	63.3
Of which: Central Government debt	67.9	60.4	61.9

Oil
Oil and gas production (millions of barrels per day)	1.205	1.262	1.266
Oil and gas exports (billions of U.S. dollars)	34.7	35.4	31.5
Angola oil price (average, U.S. dollars per barrel)	80.6	78.5	70.3
Brent oil price (average, U.S. dollars per barrel)	82.3	80.0	71.4
Sources: Angolan authorities; and IMF staff estimates and projections.
¹ Includes debt of the Central Government, external debt of state oil company Sonangol and state airline company TAAG, and guaranteed debt.

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

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

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Tatiana Mossot

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

https://www.imf.org/en/News/Articles/2025/02/24/pr-2541-angola-imf-executive-board-concludes-2024-article-iv-consultation

MIL OSI

MIL OSI Russia News –

February 25, 2025

MIL-OSI Canada: Laying the foundation for compassionate intervention
[. Alberta’s government has prioritized investments into treatment capacity with 11 recovery communities and the removal of financial barriers for those in need of treatment and recovery. Alberta has also established the gold standard for access to opioid agonist therapy through the Virtual Opioid Dependency Program. With significant progress on the model, Alberta is taking the next step to move forward with promised legislation, known as compassionate intervention.

Alberta’s government is continuing its work to develop compassionate intervention legislation. If passed, that legislation would allow family members, guardians, health care professionals, police or peace officers to request an addiction treatment order for Albertans who are a danger to themselves or others due to their addiction or substance use.

To provide proper health care for these patients with complex addiction needs, Alberta’s government is building two compassionate intervention centres, each with capacity for 150 beds. The Northern Alberta Compassionate Intervention Centre will be built in Edmonton and the Southern Alberta Compassionate Intervention Centre will be built in Calgary. Construction is expected to begin in 2026 and be completed in 2029.

“For those suffering from addiction there are two paths – they can let their addiction destroy and take their life or they can enter recovery. Alberta’s government is committed to providing a recovery-oriented system of care to ensure that those suffering from addiction have the opportunity to rebuild their lives. That’s why we are introducing compassionate intervention as another tool in the Alberta Recovery Model. This upcoming legislation will help keep our communities safe while ensuring our most vulnerable can access much-needed recovery supports.”

Danielle Smith, Premier

“We cannot – and will not – stand by and let addiction destroy our families and communities. These new facilities show a strong commitment to delivering on our promise for compassionate intervention, ensuring families are no longer forced to watch their loved ones suffer from the deadly disease of addiction.”

Dan Williams, Minister of Mental Health and Addiction

Compassionate intervention is a made-in-Alberta strategy to address the addiction crisis, taking evidence-based models used in other jurisdictions and tailoring them to meet the unique needs of Albertans. Already, Alberta has seen significant progress with the creation of the Alberta Recovery Model. Alberta saw a 39 per cent decrease in the number of people losing their lives to opioid addiction over the first ten months of 2024 compared with the same period in 2023. In contrast, British Columbia saw only a 13 per cent decline between 2023 and 2024.

The Northern and Southern Alberta Compassionate Intervention Centres would help to continue decreasing the number of lives lost to addiction. The centres would serve as multi-functional facilities where patients will access a full spectrum of mental health and addiction supports to address complex needs. They would include spaces for intake assessments, medically supported detox, counselling, individual and group therapy, and more.

The goal is to provide stabilization, assessment and treatment so Albertans can successfully transition to community supports, such as a recovery community, to continue their recovery journey.

“We value our partnership with Alberta’s government as we work to save lives and bring people into recovery. But with new, increasingly deadly drugs like methamphetamine and fentanyl, we can’t keep doing the same things and expect different results while people are dying. As Chief of Enoch Cree Nation, I support compassionate intervention and welcome investments that prioritize Indigenous culture and new approaches that truly meet the needs of our people.”

Cody Thomas, chief, Enoch Cree Nation

With an immediate need to provide compassionate intervention care, Alberta’s government is also exploring options to have temporary compassionate intervention beds more quickly available within existing facilities.

Under the upcoming legislation, individuals would need to meet specific criteria to be eligible for compassionate intervention assessment and treatment. Decisions would be made by an independent commission consisting of lawyers, physicians, and members of the public, which may include Indigenous elders. Treatment would be tailored to each patient’s needs and take place in a secure facility and in the community.

“Tsuut’ina Nation is grateful for our relationship with the Ministry of Mental Health and Addiction. These new compassionate intervention centres are an important part of addressing the opioid addiction crisis. We are confident that these safe spaces, guided by elders and experts, will provide valuable support for individuals and families in need.”

Roy Whitney, chief, Tsuut’ina Nation

Safeguards would be built into the compassionate intervention legislation to ensure individual rights and freedoms are protected. Individuals would have access to legal support and the Health Advocate, and would retain the ability to appeal. Those who enter into compassionate intervention will undergo regular treatment reviews. Further details about compassionate intervention will be shared when legislation is introduced.

“Today, I feel hopeful. I’m grateful for Alberta’s government because they have acknowledged the addiction crisis in Alberta and committed to proactive programs aimed at saving our loved ones. We must intervene to help people like my son reclaim their lives.”

Amy Schiffner, mother of an adult suffering from addiction

“This commitment to compassionate intervention is ensuring we bring as many people out of addiction as possible. It’s clear Alberta’s government is taking recovery seriously with significant investment into the delivery of compassionate intervention care.”

Bruce Holstead, executive director, Fresh Start Recovery Centre

“There is nothing more heart wrenching than families watching their loved one struggle with the illness of addiction. PEP Society welcomes this investment and action to establish compassionate intervention, and we look forward to having this resource to rebuild health and wellness in families across Alberta.”

Lerena Greig, executive director, Parents Empowering Parents (PEP) Society

“We need to ask ourselves if it is better to leave someone to harm themselves with ongoing addiction or if we should compassionately intervene. The answer is obviously to intervene and do what we can to save someone’s life.”

Earl Thiessen, executive director, Oxford House

Advisory committees are being established to help guide and provide input on the implementation of compassionate intervention within the health system. Members will include representatives from Indigenous communities and families affected by addiction. Alberta’s government will also continue to consult with police and health professionals to establish a robust compassionate intervention system.

Alberta’s government is making record investments and removing barriers to recovery-oriented supports for all Albertans. In addition to adding more than 10,000 new, publicly funded addiction treatment spaces, the province expanded access to the Virtual Opioid Dependency Program, which provides same-day access to life-saving treatment medication. Alberta’s government is also investing in 11 recovery communities, three of which are operational.

Quick facts
- Albertans struggling with opioid addiction can contact the Virtual Opioid Dependency Program (VODP) by calling 1-844-383-7688, seven days a week, from 6 a.m. to midnight daily. VODP provides same-day access to addiction medicine specialists. There is no waitlist.
- Albertans can call 211 Alberta for information on services and supports in their community.
Related information
- Alberta Recovery Model
Multimedia
- Watch the news conference
MIL OSI Canada News –
February 25, 2025
MIL-OSI USA: New Poll Shows Massive Support for President Trump and His Agenda

US Senate News:

Source: The White House
A new poll by Harvard CAPS-Harris reveals the majority of the country backs President Donald J. Trump and his actions to bring much-needed reforms that are making America great again.
Americans overwhelmingly support President Trump’s agenda.
81% support deporting criminal illegal immigrants.
76% support a “full-scale effort to find and eliminate fraud and waste in government.”
76% support closing the border with additional security and policies.
69% support keeping men out of women’s sports.
68% support government declaring there are only two genders.
65% support ending race-based hiring in government.
63% support “freezing and re-evaluating all foreign aid expenditures and the department that handled them.”
61% support reciprocal tariffs.
60% support direct U.S. negotiations with Russia to end the war in Ukraine.
59% support cutting government spending already approved by Congress.
57% support ending the ban on new offshore drilling.

Most Americans approve of President Trump’s job performance — including pluralities of men, women, independents, and Americans who live in urban, suburban, and rural areas — while almost six-in-ten say he’s doing a better job than President Biden.
Almost half of Americans believe the U.S. economy is “strong” under President Trump — the highest number since 2021 — while a plurality say his policies will make them “financially better off.”
Americans are significantly more optimistic about the direction of the country, with those who say we’re on the right track up 14 points over last month.
Americans strongly support President Trump’s effort to root out waste, fraud, and abuse in government.
77% support a “full examination of all government expenditures.”
72% agree there should be a government agency “focused on efficiency.”
70% say government is “filled with waste, fraud, and inefficiency.”
Two-thirds say Congress should join the “effort to reduce government expenditures.”

Americans back President Trump’s action to protect American workers.
61% support reciprocal tariffs.
57% say tariffs are an “effective foreign and economic policy tool.”
54% say tariffs will help get “concessions from other countries.”

President Trump, Vice President JD Vance, Secretary of Health and Human Services Robert F. Kennedy, Jr., Director of National Intelligence Tulsi Gabbard, and Attorney General Pam Bondi all enjoy net positive favorability.

MIL OSI USA News –

February 25, 2025
MIL-OSI New Zealand: Advocacy – New Report Shows Existing Approach to Dental Care “Not Fit for Purpose” – Action Station

Source: Action Station

A landmark report is published today by the Dental for All Coalition telling human stories of struggles with oral healthcare in New Zealand.

One of the key conclusions of the report is that the system of $1000 grants provided by Work & Income for urgent dental care is “not fit for purpose”.

The report focuses on, and tells the story of, ten people’s experiences with oral healthcare in New Zealand. Basic oral healthcare is free for under-18s, but must be paid for by over-18s.

Individuals interviewed for the report explained that these grants, increased from $300 to $1000 by the last government, are limited in what they can be spent on, are inaccessible to many, and are too inflexible.

The report says, “the means-tested system of providing grants is not meeting the needs of New Zealanders”.

Ten stories are told in the report of individuals, from very different walks of life, who are all being failed by the current approach to oral health.

Dental care is outside of New Zealand’s public healthcare system, and the stories showcase the stigma, shame, and pain that is felt when people cannot afford basic dental care.

The report, “I Didn’t Want to Smile”, calls for universal, free, Te Tiriti o Waitangi-consistent dental.

“What was really revealing about the conversations I had for this report,” said report author Kayli Taylor, of ActionStation and the Dental for All coalition, “is that people are searching for other support in the healthcare system, for example through GPs or are requiring hospitalisation, because public oral healthcare is not available.”

“Another theme of the report,” Taylor adds, “is that small problems can really balloon, leading to loss of teeth or financial stress, because dental is not part of the public healthcare system. Funding regular, preventative oral healthcare would help stop small problems from becoming larger ones.”

“It is clear from the stories shared in this report that the status quo is not working – our privatised, costly dental system is preventing people from accessing the care they need,” adds Taylor.

The report is the first publication that the group is aware of that has used detailed interviews to focus on the lived experience of individuals struggling with dental care in New Zealand.

Another theme of the report is that people are making impossible choices because of the high cost of dental, and are forced to go into overdraft or face significant pain because of the failings of the current system.

Brooke Pao Stanley (Manaaki Rangatahi, Auckland Action Against Poverty) says she has seen people struggling with dental costs in her work in South Auckland and there is a need for change.

“In my work at Auckland Action Against Poverty, I heard again and again about people not affording dental, and I think the way forward is to treat your teeth like we do the rest of our body, and make oral healthcare free as part of our public healthcare system,” says Stanley.

A 2022 poll showed that 74% of people in New Zealand support making oral healthcare free.

In the 2023 election the Labour Party promised free dental for under 30s, the Green Party promised free public dental for all, and Te Pāti Māori promised free dental for those earning under $60,000.

The final words of the report read: “What the voices in this report are asking for is simple. To be able to smile. To be able to live without shame or stigma. As a society, are we going to continue to tell people that this is too much to ask for?”

MIL OSI New Zealand News –

February 25, 2025
MIL-OSI New Zealand: Advocacy – New Report Shows Existing Approach to Dental Care “Not Fit for Purpose” – Action Station

Source: Action Station

A landmark report is published today by the Dental for All Coalition telling human stories of struggles with oral healthcare in New Zealand.

One of the key conclusions of the report is that the system of $1000 grants provided by Work & Income for urgent dental care is “not fit for purpose”.

The report focuses on, and tells the story of, ten people’s experiences with oral healthcare in New Zealand. Basic oral healthcare is free for under-18s, but must be paid for by over-18s.

Individuals interviewed for the report explained that these grants, increased from $300 to $1000 by the last government, are limited in what they can be spent on, are inaccessible to many, and are too inflexible.

The report says, “the means-tested system of providing grants is not meeting the needs of New Zealanders”.

Ten stories are told in the report of individuals, from very different walks of life, who are all being failed by the current approach to oral health.

Dental care is outside of New Zealand’s public healthcare system, and the stories showcase the stigma, shame, and pain that is felt when people cannot afford basic dental care.

The report, “I Didn’t Want to Smile”, calls for universal, free, Te Tiriti o Waitangi-consistent dental.

“What was really revealing about the conversations I had for this report,” said report author Kayli Taylor, of ActionStation and the Dental for All coalition, “is that people are searching for other support in the healthcare system, for example through GPs or are requiring hospitalisation, because public oral healthcare is not available.”

“Another theme of the report,” Taylor adds, “is that small problems can really balloon, leading to loss of teeth or financial stress, because dental is not part of the public healthcare system. Funding regular, preventative oral healthcare would help stop small problems from becoming larger ones.”

“It is clear from the stories shared in this report that the status quo is not working – our privatised, costly dental system is preventing people from accessing the care they need,” adds Taylor.

The report is the first publication that the group is aware of that has used detailed interviews to focus on the lived experience of individuals struggling with dental care in New Zealand.

Another theme of the report is that people are making impossible choices because of the high cost of dental, and are forced to go into overdraft or face significant pain because of the failings of the current system.

Brooke Pao Stanley (Manaaki Rangatahi, Auckland Action Against Poverty) says she has seen people struggling with dental costs in her work in South Auckland and there is a need for change.

“In my work at Auckland Action Against Poverty, I heard again and again about people not affording dental, and I think the way forward is to treat your teeth like we do the rest of our body, and make oral healthcare free as part of our public healthcare system,” says Stanley.

A 2022 poll showed that 74% of people in New Zealand support making oral healthcare free.

In the 2023 election the Labour Party promised free dental for under 30s, the Green Party promised free public dental for all, and Te Pāti Māori promised free dental for those earning under $60,000.

The final words of the report read: “What the voices in this report are asking for is simple. To be able to smile. To be able to live without shame or stigma. As a society, are we going to continue to tell people that this is too much to ask for?”

MIL OSI New Zealand News –

February 25, 2025
MIL-OSI Video: Ambassador Xolelwa Mlumbi-Peter and Ms Susan Mangole from DTIC about Trade and business finance

Source: Republic of South Africa (video statements-2)

Ambassador Xolelwa Mlumbi-Peter and Ms Susan Mangole from Department of trade, Industry and Competition speaks about Trade and business finance opportunities

https://www.youtube.com/watch?v=ca-bkMMJ2oA

MIL OSI Video –

February 25, 2025
MIL-OSI: BsvCloud Announces 2025 Cloud Mining Plans to Help Beginners Mine Bitcoin Easily
Source: GlobeNewswire (MIL-OSI)

UXBRIDGE, United Kingdom, Feb. 24, 2025 (GLOBE NEWSWIRE) — As Bitcoin continues to dominate the cryptocurrency world, BsvCloud, a trusted leader in cloud mining solutions, announces its new 2025 mining plans tailored to help beginners mine Bitcoin easily. Since its founding in 2017, BsvCloud has empowered over 500,000 users globally, and now it’s breaking down barriers with user-friendly, secure, and innovative cloud mining packages designed to simplify Bitcoin mining for newcomers.

Making Bitcoin Mining Easy for Beginners in 2025

With Bitcoin’s popularity soaring in 2025, many beginners are eager to join the mining craze but often face complex hardware setups and technical challenges. BsvCloud’s new cloud mining plans eliminate these hurdles, offering a straightforward way for novices to start mining Bitcoin. Backed by cutting-edge technology, these plans make the process accessible, letting anyone dip their toes into the world of cryptocurrency with confidence.

Key Features of BsvCloud’s New Cloud Mining Plans
- Beginner-Friendly Options: Start with simple, affordable plans crafted for those new to Bitcoin mining.
- Higher Profitability: Optimized contracts ensure returns exceed industry benchmarks.
- Advanced Tech: Powered by renewable energy and AI-driven hardware, BsvCloud maximizes efficiency.
- Unmatched Security: Multi-layer encryption and offline storage safeguard your assets.
- 24/7 Support: A friendly team is available anytime to assist beginners every step of the way.
How to Start Mining Bitcoin with BsvCloud
Getting into Bitcoin mining has never been easier:
1. Sign Up: Register at bsvcloud.com and claim a $15 signup bonus in minutes.
2. Select a Plan: Pick a cloud mining package that fits your budget and goals.
3. Start Mining: Launch your operation instantly—no hardware or expertise needed.
4. Track Earnings: Monitor daily profits on a user-friendly dashboard, with withdrawals in under 5 minutes.
Why BsvCloud Stands Out for Beginners

Traditional Bitcoin mining can intimidate newcomers with its costly equipment and steep learning curve. BsvCloud changes that by leveraging green energy and smart automation to simplify the process.

“We’re here to help beginners mine Bitcoin without the stress,” said Thomas Simatos, CEO of BsvCloud. “Our 2025 plans are all about ease and accessibility, backed by reliable technology.” Users like Sarah from London agree: “I signed up in minutes and started mining Bitcoin without any stress—BsvCloud makes it so easy!”

Get Started with Bitcoin Mining Today

BsvCloud’s new cloud mining plans are live now, ready to help beginners explore Bitcoin mining in 2025. Visit bsvcloud.com to learn more and take your first step into the crypto world with ease.

About BsvCloud

Founded in 2017, BsvCloud is a global leader in cloud mining, serving over 500,000 users across 100+ countries. Based in Uxbridge, UK, the company uses renewable energy and AI technology to make Bitcoin mining sustainable and beginner-friendly. With a focus on transparency and simplicity, BsvCloud is committed to opening up cryptocurrency mining to everyone.

Contact Details

Disclaimer: This press release is provided by BsvCloud. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

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The MIL Network –
February 25, 2025
MIL-OSI Global: ‘Your life becomes a nightmare’: how scam operations exploit those trapped inside – Scam Factories podcast, Ep 2

Source: The Conversation – UK – By Gemma Ware, Host, The Conversation Weekly Podcast, The Conversation

A few weeks after Ben Yeo travelled to Cambodia for what he thought was a job in a casino, he found himself locked up in a padded room. “It’s a combination between a prison and a madhouse,” he remembers. He was being punished for refusing to conduct online scams.

“They tried all kinds of coercive manoeuvres, using a fire extinguisher to try to hit me, to scare me, using a plastic bag over my head to suffocate me … Whatever you see in the movies that actually happened.”

Scam Factories is a podcast series from The Conversation Weekly taking you inside Southeast Asia’s brutal fraud compounds. It accompanies a series of multimedia articles on The Conversation.

In the second episode, Inside the Operation, we explore the history of how scam compounds emerged in Southeast Asia and who is behind them. We hear about the violent treatment people receive inside through the testimonies of two survivors, Ben, and another man we’re calling George to protect his real identity.

The Conversation collaborated for this series with three researchers: Ivan Franceschini, a lecturer in Chinese Studies at the University of Melbourne, Ling Li, a PhD candidate at Ca’ Foscari University of Venice, and Mark Bo, an independent researcher.

They’ve spent the past few years researching the expansion of scam compounds in the region for a forthcoming book. They’ve interviewed nearly 100 survivors of the compounds, analysed maps and financial documents related to the scam industry and tracked scammers online to find out how these compounds work.

Read an article by Ivan Franceschini and Ling Li which accompanies this episode about the rise of the scamming industry.

The Conversation contacted AsiaHR international for comment. We did not receive a response. We contacted all the other companies mentioned in this multimedia series for comment, except Jinshui who we could not contact. We did not receive a response from them either.

This episode was written and produced by Gemma Ware, with assistance from Mend Mariwany and Katie Flood. Leila Goldstein was our producer in Cambodia and Halima Athumani recorded for us in Uganda. Hui Lin helped us with Chinese translation. Sound design by Michelle Macklem and editing help from Ashlynee McGhee and Justin Bergman.

Listen to The Conversation Weekly podcast via any of the apps listed above, download it directly via our RSS feed or find out how else to listen here.

Mark Bo, an independent researcher who works with Ivan Franeschini and Ling Li, is also interviewed in this podcast series. Ivan, Ling, Mark, and others have co-founded EOS Collective, a non-profit organisation dedicated to investigating the criminal networks behind the online scam industry and supporting survivors.

– ref. ‘Your life becomes a nightmare’: how scam operations exploit those trapped inside – Scam Factories podcast, Ep 2 – https://theconversation.com/your-life-becomes-a-nightmare-how-scam-operations-exploit-those-trapped-inside-scam-factories-podcast-ep-2-250464

MIL OSI – Global Reports –

February 25, 2025
MIL-OSI: Rhino Federated Computing and Flower Labs partner to accelerate Federated Learning adoption across industries
Source: GlobeNewswire (MIL-OSI)

BOSTON, Feb. 24, 2025 (GLOBE NEWSWIRE) — Rhino Federated Computing, the global leader in enterprise Federated Computing platforms, announced today a partnership with Flower, the world’s most popular open-source Federated Learning (FL) framework and Decentralized AI developer community. This partnership enables organizations from all industries to seamlessly benefit from the rapidly growing Flower ecosystem via Rhino Federated Computing Platform (FCP), unlocking unparalleled ease of deployment, security, and scalability.

Developer-Friendly Federated AI with Flower Labs

Flower has long been celebrated for its unmatched ease-of-use, large-active developer community and industry-firsts like FlowerLLM. The Flower framework simplifies the building of FL systems due to its:
- Diverse ML Framework and Tool Compatibility: Flower seamlessly works with TensorFlow, PyTorch, XGBoost, MLX, JAX, and many more ML tools which simplifies adoption by existing AI teams, and the integration effort even for organizations employing diverse AI/ML toolchains.
- Best-in-Class PETs Support: Flower offers AI developers a rich set of privacy-enhanced technologies (PETs) including many varieties of differential privacy, secure aggregation, homomorphic encryption to name a few, that are optimized under Flower for a wide range of ML hardware platforms.
- Scalable and Customizable to Enterprise Environments: The underlying Flower architecture is built for high-performance with large-scale production environments in mind; the framework also offers out-of-the-box flexibility to support custom enterprise requirements such as aggregation and learning algorithms, user authentication, networking protocols and data formats.
By integrating Flower Labs’ framework into Rhino FCP, organizations can now leverage the framework’s unique benefits while operating within a platform designed for enterprise environments.

Rhino FCP: Enterprise Federated Computing

Rhino Federated Computing Platform (FCP) is a scalable, secure, and production-grade federated computing solution designed to orchestrate both site-specific and federated workflows without requiring data transfer. It supports multi-cloud and hybrid enabling enterprises to unlock proprietary data for AI and analytics. Rhino differentiates with:
- Enterprise-Grade Orchestration & Security – Provides centralized management with decentralized execution, ensuring encryption, role-based access control (RBAC), and audit logging to meet regulatory requirements such as HIPAA, GDPR, ISO 27001, and SOC 2 Type II; Rhino has passed security reviews with numerous large, rigorous organizations across regulated industries.
- Scalable & Infrastructure-Agnostic – Enables distributed computing across multi-cloud and on-prem environments, minimizing operational complexity while optimizing performance. Available in multiple cloud marketplaces.
- Seamless Integration with Data & AI Ecosystems – Supports leading federated learning frameworks, and integrates a wide range of software for pre-processing, data harmonization and viewing model training, analytics, AI workflows and storage.
- Privacy-Preserving AI & Federated Analytics – Supports technologies like tokenization, differential privacy, homomorphic encryption and privacy preserving federated analytics / statistics to extract insights without exposing sensitive data.
With Rhino FCP, enterprises can rapidly deploy, scale, and operationalize federated AI while maintaining full control over security, compliance, and data governance.

Democratizing Federated Learning Across Industries

Combining the rich ecosystem of Flower with the enterprise-hardened capabilities of Rhino FCP, opens doors for enterprises to rapidly adopt Federated Learning without compromising on security or operational efficiency. From healthcare and pharmaceuticals to finance, manufacturing, and retail, organizations can now adopt cutting-edge AI techniques with ease, unlocking insights from distributed data while protecting sensitive information.

“Rhino is proud to offer the world’s leading enterprise-hardened Federated Computing Platform,” said Rhino co-founder & CEO, Dr. Ittai Dayan, “Adding Flower’s framework to Rhino FCP will broaden the network of people able to collaborate, bringing massive value to all participants.”

“Flower is on a mission to make federated AI the new default,” said Flower Labs Co-Founder & CEO, Daniel J. Beutel, “Bringing Flower compatibility to Rhino FCP will enable more enterprises to benefit from and contribute back to the large and growing Flower ecosystem.”

About Rhino Federated Computing

Rhino’s Federated Computing Platform (Rhino FCP) unites siloed data with edge computing and federated learning, empowering enterprises to accelerate data strategies and to expand AI partnerships & use cases. Visit https://www.rhinofcp.com/ to learn more.

About Flower Labs

Flower (https://flower.ai) enables organizations and companies to train better AI models by safely leveraging distributed data. The Flower open-source framework and eco-system is the de-facto standard for federated AI in both research and production around the world. It offers a unified approach to decentralized forms of learning, analytics, and evaluation; with a focus on an easy-to-use AI developer experience. To learn more about Flower visit https://flower.ai/

The MIL Network –
February 25, 2025
MIL-OSI Global: Sanctions rarely achieve their goals – here’s why they failed in Russia and Myanmar

Source: The Conversation – UK – By Sergey Sosnovskikh, Lecturer in International Business, Manchester Metropolitan University

Sanctions are, according to research, effective less than 10% of the time if success is defined as the complete compliance of a sanctioned regime with the imposed external pressure. Taking a more lenient view, which includes partial concessions or negotiated settlements, the success rate rises to 35% at most.

The idea that sanctions can completely restrict trade to sanctioned countries is largely flawed. Iranian residents, for example, can still access many western products despite sanctions through intermediaries in countries like Turkey and the Gulf states.

To better understand why sanctions fail, consider the cases of Russia and Myanmar. The sanctions imposed on Russia following its full-scale invasion of Ukraine in 2022 have undoubtedly caused some economic disruption, including inflation, labour shortages and a devaluation of the Russian rouble. But they have had a limited impact overall.

In April 2024, the International Monetary Fund predicted that Russia’s economy would grow faster than all of the world’s advanced economies that year, including the US.

Many countries have not participated in the west’s sanctions regime, which has created enforcement gaps. These gaps have largely enabled Russia to maintain access to sanctioned goods and continue its economic activities.

In January 2023, a US thinktank called Silverado reported that some former Soviet states had increased their “transshipment” of goods produced by multinational firms that no longer export to Russia directly.

Transshipment is a process where cargo is unloaded from one vessel and reloaded into another while in transit. Armenia and Uzbekistan, as well as China and Turkey, are the countries commonly used as “transshipment points” to Russia.

Indeed, research of our own into how sanctioned goods continue to reach Russia reveals that companies often reroute their supply chains through politically allied intermediary nations. These rerouted imports can, however, drive up product prices for ordinary citizens.

Stacks of containers at a port in St Petersburg, Russia.
Andrey Mihaylov / Shutterstock

Russia has also reduced its dependency on imports by increasing production in sectors such as agriculture and manufacturing. In August 2023, for example, India and Russia signed the biggest ever grain deal between the two countries.

And the Russian government implemented fiscal and monetary measures, including currency controls and subsidies, to stabilise the economy and support key industries.

Russia’s large, diverse economy and abundant natural resources make it more resilient to sanctions compared to some smaller and less diversified nations. Much of the world is reliant on Russian gas and, since the imposition of western sanctions, countries like China and India have increased the amount they buy.

Even the EU is still spending billions of US dollars on Russian gas. In the first 15 days of 2025, after an agreement allowing Russia to pump gas to the EU via pipelines running across Ukraine ended, the EU’s 27 countries imported Russian gas at a record rate.

Sanctioning Myanmar’s military

Targeted western sanctions have tried to undermine the financial interests of Myanmar’s military junta, which has been battling armed opposition to its rule since a coup in 2021. But these sanctions have only been partially effective, too.

China, India, Japan and neighbouring south-east Asian countries continue to engage in business with Myanmar. In Myanmar’s lucrative gas export sector, the vacuum left by departing western companies has been swiftly filled by Asian partners. This has ensured the junta’s income streams remain largely intact.

Brands that have ostensibly exited the market due to sanctions or activist pressure also remain accessible through the country’s porous border trade. And there have been cases where a significant delay between a company’s declared exit and its actual departure inadvertently allowed operations to continue as usual for some time.

In 2024, we conducted a study with our colleague Anna Grosman, an expert on innovation and entrepreneurship at Loughborough University, on multinational firms operating in Myanmar. Our findings highlight the dilemma foreign businesses face in sanctioned countries over whether to stay or leave.

This decision is shaped by formal pressure, such as home and host government restrictions. For instance, a multinational firm’s home government may penalise companies that continue to operate in a sanctioned country, while the host government may impose policies or financial barriers to prevent or delay their exit.

However, informal pressure from activists, diaspora groups and international advocacy organisations also plays a role. Staying can help businesses avoid financial losses and the complexities of exit, but it also exposes them to reputational damage and ethical dilemmas.

Western sanctions on Myanmar’s military regime have been ineffective, too.
R. Bociaga / Shutterstock

Some of the junta’s financial channels, such as revenue from the jade mining industry, are out of reach for sanctions. In 2021, the US treasury department sanctioned Myanmar’s state-owned gemstone company, Myanmar Gem Enterprise, describing it as “a key economic resource” for the military.

However, sanctions on Myanmar Gem Enterprise have not been completely effective. Myanmar’s gemstone mining industry is mostly an informal sector, with data on mining income and distribution underreported and opaque. Continued revenue from this sector will almost certainly have further cushioned the impact of western sanctions.

The sanctions have only partially stopped the flow of income to the junta. But they have contributed to the hardships facing ordinary citizens. Myanmar’s currency has cratered, while imported goods including pharmaceuticals and fuel are in short supply. Power outages are now common and there are soaring levels of unemployment.

Some western governments have now imposed sanctions on state-owned banks in Myanmar in an attempt to stop revenue from reaching the junta. This move will only worsen the situation facing Myanmar’s people.

Sanctions drive nations towards building domestic industries to replace imported goods and strengthening alliances with supportive countries. Far from achieving their intended political objectives, sanctions can exacerbate an already volatile geopolitical landscape, while driving up prices for ordinary people.

But at the same time, governments and businesses have a duty to exit a country when they are no long able to adhere to their own human rights commitments.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Sanctions rarely achieve their goals – here’s why they failed in Russia and Myanmar – https://theconversation.com/sanctions-rarely-achieve-their-goals-heres-why-they-failed-in-russia-and-myanmar-244975

MIL OSI – Global Reports –

February 25, 2025
MIL-OSI USA: Ernst Pushes to Permanently Repeal the Federal Death Tax

US Senate News:

Source: United States Senator Joni Ernst (R-IA)
WASHINGTON – U.S. Senator Joni Ernst (R-Iowa), Chair of the Senate Small Business and Entrepreneurship Committee and a member of the Senate Agriculture Committee, joined a bipartisan group of her colleagues in working to permanently repeal the federal estate tax, more commonly known as the death tax or inheritance tax.
The Death Tax Repeal Act would end this purely punitive tax that has the potential to hit family-run farms and small businesses following the owner’s death. Companion legislation was introduced in the U.S. House of Representatives by Rep. Randy Feenstra (R-Iowa).
“Iowa farming families and entrepreneurs work for generations to establish farms and build small businesses that are essential to our state’s economy and rural communities,” said Senator Ernst. “They should not have to fear the loss of their livelihoods as they grieve a loved one. It’s time to eliminate this crippling tax burden and costly estate planning expenses once and for all.”
Background:
Ernst has been a strong opponent of the death tax, recognizing its burden on family-owned businesses, farms, and ranches. During the 2017 Tax Cuts and Jobs Act (TCJA), she supported efforts to repeal the tax. While the TCJA did not fully eliminate the death tax, it did double the estate and gift tax exemption to $10 million through 2025, easing the impact on many families. The Death Tax Repeal Actwould provide permanent relief.

MIL OSI USA News –

February 25, 2025
MIL-OSI USA: PREPARED REMARKS: Sanders Opening Statement in Hearing to Consider Chavez-DeRemer Nomination

US Senate News:

Source: United States Senator for Vermont – Bernie Sanders

WASHINGTON, Feb. 19 – Sen. Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), today delivered an opening statement at the committee’s hearing on the nomination of Lori Chavez-DeRemer to serve as Secretary of Labor.

Sanders’ remarks, as prepared for delivery, are below and can be watched here.

Let me begin by thanking the Biden administration for being the most pro-worker administration in modern history of this country.

The mission of the Department of Labor is to “foster, promote, and develop the welfare of the wage-earners, job-seekers and retirees of the United States, improve working conditions, advance opportunities for profitable employment and assure work-related benefits and rights.” That is the mission of the Department of Labor, and it’s a mission that is more important now, in my view, that it has ever been.

Mr. Chairman, for the past 50 years, our economy has been doing extraordinarily well. Never done better for the people on top. Top 1%, right now, is enjoying wealth and power in a way that has never existed in the history of America.

We now have the absurd situation – the disgraceful situation – where three people, Mr. Musk, Mr. Zuckerberg and Mr. Bezos are now worth over $900 billion. That is more wealth than the bottom half of American society: 170 million people. Is that really what America is supposed to be about?

In America, we have more income and wealth inequality than we have ever had. Over 60% of our people, as we speak right here, 60% of Americans are living paycheck-to-paycheck. I grew up in a family living paycheck-to-paycheck. That ain’t easy. Stress level: enormous. People trying to find out how they are going to get health care, how they are going to pay their rent, how they’re going to feed their kids, which is one of the reasons working-class people live six years shorter lives than the people on top.

Given this reality, of an economy working well for the billionaire class but not for working families, we need a labor secretary who, in fact, is going to be a champion of working families – not be ambiguous about it, but stand up for the working families of our country.

We need a labor secretary who understands we must raise the minimum wage. Now, $7.25. Federal minimum wage. Anybody think that anyone anywhere in America can live on $7.25 an hour?

We need a labor secretary who will work each and every day to make it easier, not harder, for workers to exercise their constitutional right to form a union and collectively bargain for better wages and working conditions.

We need a labor secretary who understands that we must end, once and for all, the disastrous right-to-work laws in 28 states by repealing section 14B of Taft-Harley.

We need a labor secretary who understands we must end the international embarrassment of America being the only major country on Earth that does not guarantee paid family and medical leave, or paid sick days. Imagine that. Only major country on Earth that does not guarantee paid family medical leave.

We need a labor secretary who understands it is unacceptable that women earn 75 cents on the dollar compared to men.

So Ms. Chavez-DeRemer, I have reviewed your record, and in many respects, especially given the nature of the nominees that Mr. Trump has brought forth, it is very good. You’re one of the few Republican members of Congress who cosponsored the PRO Act and the Public Service Freedom to Negotiate Act, to make it easier for workers to form unions.

You have been a defender of union apprenticeship programs and you have fought to expand the concept of employee ownership – something I feel strongly about. Many unions have come out in support of your nomination, and that is an interesting development. I have spoken with you and union leaders who support your nomination.

But here is my concern: If you are confirmed, you will not only be in charge of enforcing more than 180 labor laws that are on the books today, you will be the president’s chief labor advisor. That is what you will be.

When it comes to labor policy, you will have to make a choice: Will you be a rubber stamp for the anti-worker agenda of Elon Musk, Jeff Bezos and other multi-billionaires who are blatantly anti-union? They don’t make any bones about it. Or will you stand with working families all over the country?

That is really the main issue. It’s not just your record. This is an unusual administration. In my view, we are moving toward an authoritarian society where one person has enormous power. Will you have the courage to say, Mr. President, that is unconstitutional, that is wrong, I will not stand with you.

MIL OSI USA News –

February 25, 2025
MIL-OSI USA: Rosen, Cortez Masto Demand Transparency Regarding Termination of NNSA Personnel

US Senate News:

Source: United States Senator Jacky Rosen (D-NV)

WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) and Catherine Cortez Masto (D-NV) sent a letter to President Trump’s Department of Energy (DOE) and National Nuclear Security Administration (NNSA) regarding recent terminations of NNSA personnel. Given the NNSA’s role in maintaining and modernizing the American nuclear stockpile, largely done at the Nevada National Security Sites (NNSS), the senators expressed grave concern that the chaotic terminations could harm American national security.
“NNSA personnel possess highly specialized expertise that is not easily replaceable, and any disruption to their work could have far-reaching consequences for U.S. national security and global nuclear stability,” wrote the Senators. “Reductions in staff, particularly among senior leadership and technical experts, could compromise the continuity of critical programs, modernization, and weaken the ability of the U.S. to respond to emerging nuclear threats.”
“Adding to these concerns, there are reports the NNSA is now attempting to rehire the terminated employees but has been unable to contact some of them,” they continued. “The fact that the agency is struggling to restore essential personnel suggests these firings were premature, mismanaged, or not conducted with full consideration of the potential impacts on national security operations.”
The senators asked that the following information about the terminations be made public:

The total number of National Nuclear Security Administration employees who were terminated, including those in Nevada.
Any planned future rounds of firings, including those in Nevada.
The specific positions and responsibilities of these employees.
How many employees, if any, have been successfully rehired.
A detailed explanation of the rationale behind these terminations, including any financial, policy, or strategic considerations that led to these decisions.
How the hiring freeze, put in place by the current administration, impacts the mission at NNSA.
A detailed assessment on how these firings and then rehirings impact any future recruitment at the NNSA.

The full text of the letter can be found here.
Senators Rosen and Cortez Masto are champions for strengthening American national security, especially at sites like the NNSS. They have consistently voted to deliver critical funding to the NNSS. They also have a strong history of opposing nuclear waste disposal at Yucca Mountain and have introduced legislation to ensure the Secretary of Energy obtains written consent from state, local, and tribal leaders before allowing construction of a nuclear waste repository.

MIL OSI USA News –

February 25, 2025
MIL-OSI Canada: A just and lasting peace for Ukraine
Source: Government of Canada – Prime Minister

Three years ago today, Russia launched an illegal full-scale invasion of Ukraine that has left hundreds of thousands dead and forced millions to flee. In the face of unimaginable hardship, Ukrainians have persevered and have fought for freedom and democracy. Canada has supported and will continue to support Ukraine in achieving just and lasting peace.

The Prime Minister, Justin Trudeau, visited Kyiv today to reaffirm Canada’s unwavering support for Ukraine.

During this visit, the Prime Minister highlighted the recent conclusion of negotiations between Canada and Ukraine on the terms of Canada’s $5 billion contribution to the G7 Extraordinary Revenue Acceleration (ERA) Loans mechanism. Canada will disburse the first half of its contribution, totalling $2.5 billion, in the coming days, with the remainder to follow soon. Announced last year at the G7 Summit in Apulia, Italy, the ERA Loans will bring forward the future revenues from frozen Russian sovereign assets. This initiative will provide Ukraine with approximately $69 billion (US$50 billion).

To maintain pressure on Russia, Prime Minister Trudeau announced new sanctions targeting 76 individuals and entities providing support for the Kremlin’s military industrial base, involved in the unlawful deportation or forced transfer of Ukrainian children, or supporting the Kremlin’s information operations capabilities, as well as senior Russian government officials and oligarchs who support Putin’s regime. In total, Canada has sanctioned more than 3,000 individuals and entities who are complicit in the violation of Ukraine’s sovereignty and territorial integrity and in gross and systematic human rights violations. The Prime Minister also announced that Canada is taking action against Russia’s shadow fleet by sanctioning 109 vessels based on their involvement in the transfer of sanctioned goods, including hydrocarbons whose revenue fuels Russia’s war machine.

In response to Russia’s renewed attacks on Ukraine’s energy infrastructure, which have left millions of civilians deprived of electricity, water, and heat, the Prime Minister also announced a $50 million contribution to help support Ukraine’s urgent efforts to repair and replace damaged energy equipment and critical infrastructure, in partnership with the Energy Community Secretariat. This builds on the $20 million in funding Canada announced last year in support of this initiative at the Summit on Peace in Ukraine, in Lucerne, Switzerland.

During a bilateral meeting with the President of Ukraine, Volodymyr Zelenskyy, Prime Minister Trudeau noted progress on Canada’s assistance commitments, including the delivery of military training and critical equipment, such as armoured combat vehicles and infantry fighting vehicles, ammunition, and F-16 landing systems and simulators.

Building on the $3.02 billion announced in the Agreement on Security Cooperation between Canada and Ukraine last year, the Prime Minister announced that $40 million of the total $3.02 billion in funding will be allocated to deliver urgently needed capabilities to the Armed Forces of Ukraine through the Danish Model and another $15 million toward supporting Canadian companies seeking to operate and invest in Ukraine’s defence sector.

The Prime Minister announced new assistance measures for Ukraine totalling $118.5 million, including:
- $92.3 million in development assistance to strengthen local community building, support small-scale livelihood recovery projects that address community needs, reduce poverty and break down barriers to women’s full participation, address food security issues, and support the return of deported children and missing persons by improving the resilience of Ukraine’s government, communities, civil society, and private sector.
- $14 million in humanitarian assistance, including for the provision of food, shelter, water, sanitation, hygiene services, and mental health and psycho-social support to those in need.
- $8 million for weapons threat reduction to provide critical personal protective equipment to Ukrainians facing chemical, biological, radiological, and nuclear threats, and to strengthen nuclear security in the country.
- $4.25 million to support peace and stabilization operations, including assisting regional women’s rights organizations and ensuring representatives from civil society and media can work safely.
- $82,000 for local initiatives that will support the physical and mental health of former Ukrainian prisoners of war.
In total, Canada has committed over $19.7 billion in multifaceted assistance for Ukraine since the beginning of Russia’s full-scale invasion in February 2022.

In Kyiv, Prime Minister Trudeau joined President Zelenskyy and international partners to discuss the situation on the ground as well as Ukraine’s needs for military, financial, humanitarian, recovery, and other assistance. During a plenary session on the theme of “Defence and Security Strategy of Unity: Action Plan”, he delivered remarks commending the Ukrainian people for their bravery and resilience in the face of unjustified and brutal violence. He reaffirmed Canada’s position as an unshakeable ally who will continue to work with partners around the world to provide Ukraine with security and defence support – allowing it to recover, rebuild, and prosper.

The Prime Minister also convened his G7 counterparts and President Zelenskyy for a hybrid meeting to further discuss support for Ukraine. He underlined the importance of G7 unity in supporting a just and lasting peace in Ukraine as well as Ukraine’s reconstruction and economic recovery, noting that these would be priorities for Canada throughout our G7 Presidency this year.

The Prime Minister also attended a candle-lighting ceremony where he paid tribute to all those whose lives have been lost since the start of Russia’s aggression. Throughout his visit, he reiterated that Canada will always stand with Ukrainians as they continue to fight for freedom, justice, and democracy. We will defend a future for Ukraine that’s written by Ukrainians. We will defend a Ukraine that is strong and free. And we will be with Ukraine in this fight until a just and lasting peace is reached.

Quotes

“For three years now, Ukrainians have fought with courage and resilience against Russia’s brutal war of aggression. Their fight for democracy, freedom, and sovereignty is a fight that matters to us all. Today, in Kyiv, my message to Ukraine and Ukrainians is loud and clear: Canada will continue to stand with you in achieving just and lasting peace. We are strengthening our commitments, providing additional support, and working with our partners to secure peace and freedom for Ukraine. Slava Ukraini!”

“Canada remains steadfast in its support for Ukraine and will continue to leverage sanctions to weaken Russia’s ability to wage its illegal war. By targeting its military-industrial base, exposing those responsible for crimes and abuses in occupied Ukrainian territories, and disrupting the oligarchs’ confidants and shadow fleet supporting the Russian regime, we are holding Russia accountable. For three years, Canada has stood with Ukraine, and we will stand by its side for as long as it takes.”

“Since the start of Russia’s unprovoked, full-scale invasion of Ukraine three years ago, Canada has stood with the Ukrainian people. We remain unwavering in our commitment to continue providing Ukraine with critical military assistance to defend itself against Russia’s brutal aggression. Together with our Allies and partners, we will ensure Ukraine has the support it needs in the fight to safeguard its sovereignty and territorial integrity.”

Quick Facts
- This was Prime Minister Trudeau’s fourth visit to Ukraine since the start of Russia’s full-scale invasion on February 24, 2022. For this visit, the Prime Minister was accompanied by the Minister of National Defence, Bill Blair.
- In Ukraine, the Prime Minister held bilateral meetings with the President of Ukraine, Volodymyr Zelenskyy, and the Prime Minister of Spain, Pedro Sánchez.
- During his visit, the Prime Minister also welcomed a new partnership with the NATO Science for Peace and Security project through which Natural Resources Canada will receive $2.1 million in funding to help create tools, establish key performance indicators, and identify opportunities for the reduction of fossil fuel dependency in military operations.
- The sanctions announced today against Russia’s shadow fleet include 92 oil tankers involved in transferring Russian oil to third countries, nine liquefied natural gas (LNG) tankers involved in transferring Russian LNG to third countries, and eight vessels involved in moving arms and related material to Russia from Iran and North Korea. Canada is also adopting new measures that will prohibit a wider range of sensitive goods and technologies from being exported from Canada to Russia.
- The measures announced today build on other recent announcements, including:
  - Providing $440 million in military assistance for Ukraine, including funding for the procurement and delivery of large-calibre ammunition and various calibres of ammunition from Canadian industry, the production of military drones by Ukraine’s domestic defence industry, the delivery of high-resolution drone cameras, and the donation of winter gear, such as sleeping bags and winter boots.
  - Providing $15 million in funding to the Innovative Mine Action for Community Recovery in Ukraine project, to help enhance Ukraine’s national mine action capacity, reduce the threat of explosive ordinance, and promote economic recovery. Canada also announced $2.2 million for the Cybersecurity Assistance Project, to provide essential cybersecurity support services, equipment, and training urgently needed by Ukraine to combat malicious cyber activities.
  - Marking the first anniversary of the launch of the International Coalition for the Return of Ukrainian Children, which 41 states and the Council of Europe have joined in a collective commitment to bringing Ukrainian children home. With the help of Coalition Member States and other key international partners, Ukraine has successfully facilitated the safe return of nearly 600 children since the launch of the Coalition, and over 1000 to date. The Coalition is co-led by Canada and Ukraine.
  - Signing a Memorandum of Understanding between Canada and Ukraine to share information and expertise that will help members of Ukraine’s security and defence forces and their families have access to resources to transition to life after service.
- Since the beginning of 2022, Canada has committed $19.7 billion in multifaceted support to Ukraine. This includes:
  - Over $12.4 billion in direct financial assistance, the highest in the G7 on a per capita basis.
  - $4.5 billion in military assistance, such as M777 howitzers, Leopard 2 main battle tanks, armoured combat support vehicles, hundreds of thousands of rounds of ammunition, high-resolution drone cameras, thermal clothing, body armour, fuel, and more.
  - Over $529 million in development assistance, including support to Ukraine’s energy system.
  - $372.2 million in humanitarian assistance, including support for emergency health interventions, protection services, and essentials such as shelter, water, sanitation, and food. Programming also addresses child protection, mental health support, and prevention and response to sexual and gender-based violence.
  - Nearly $225 million in security and stabilization assistance.
- In Kyiv, the Prime Minister highlighted the ongoing work of members of the Canadian Armed Forces in the United Kingdom and Poland under Operation UNIFIER. Since 2015, they have provided training on a range of military skills to over 40,000 Ukrainian troops. He noted that Canada continues to engage closely with Ukraine, Allies, and partners on how best to enhance support through Operation UNIFIER to help Ukraine defend itself.
- Last year, on February 24, Prime Minister Trudeau and President Zelenskyy signed the historic Agreement on Security Cooperation between Canada and Ukraine, establishing a new strategic security partnership between our two countries. This included $3.02 billion in critical financial and military support to Ukraine for 2024.
- As part of the 2024 Fall Economic Statement, the federal government announced last year its intention to double down on our efforts to support Ukraine, including through proposed legislative changes that will ensure profits from frozen Russian assets are used to rebuild Ukraine.
- Since the start of Russia’s full-scale invasion of Ukraine, Canada has welcomed more than 220,000 Ukrainians. We are helping Ukrainian families find a safe, temporary home and have put support services in place for their arrival. This includes temporary financial assistance and access to federally funded settlement services, such as language training and employment-related services.
- Canada and Ukraine have long been steadfast partners and close friends. In 1991, Canada became the first Western country to recognize Ukraine’s independence. Today, 1.3 million people of Ukrainian descent call Canada home – the largest Ukrainian diaspora in the Western world. In 2022, total bilateral trade between our two countries was valued at over $421 million.
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MIL OSI Canada News –
February 25, 2025
MIL-OSI USA: SBA Relief Still Available to Iowa Small Businesses and Private Nonprofits Affected by Summer Storms

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Iowa of the March 24, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe storms, flooding, straight-line winds and tornadoes that occurred June 16-July 23, 2024.

The disaster declaration covers the counties of Buena Vista, Calhoun, Cass, Cedar, Cherokee, Clay, Clinton, Crawford, Dickinson, Emmet, Hancock, Harrison, Humboldt, Ida, Kossuth, Lyon, Mills, Monona, Montgomery, Muscatine, O’Brien, Osceola, Palo Alto, Plymouth, Pocahontas, Pottawattamie, Sac, Scott, Shelby, Sioux, Webster, Woodbury and Wright in Iowa, as well as the county of Rock Island in Illinois, Jackson, Martin, Nobles and Rock counties in Minnesota, Burt, Dakota, Douglas, Sarpy, Thurston and Washington counties in Nebraska, and Lincoln, Minnehaha and Union counties in South Dakota.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

To apply online, visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The deadline to return economic injury applications is March 24.

###

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, 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 –

February 25, 2025
MIL-OSI Global: Wales wants to punish lying politicians – how would it work?

Source: The Conversation – UK – By Stephen Clear, Lecturer in Constitutional and Administrative Law, and Public Procurement, Bangor University

shutterstock Minerva Studio/Shutterstock

Elected politicians and candidates in Wales who deliberately lie could face serious consequences, including being removed from office, under proposals aimed at restoring trust in politics.

The Senedd’s (Welsh parliament) standards of conduct committee has recommended legally defining political deception, and strengthening existing rules to explicitly ban misleading statements. Proposed potential penalties range from a formal retraction to suspension or, in extreme cases, recall by voters.

But the committee stopped short of recommending that deliberate deception be made a criminal offence. The idea that politicians who lie could be investigated by the police and courts had previously been mooted. The option of a civil offence with a lower burden of proof being introduced was also rejected.

The committee has been working on the proposals as a way of restoring faith in politics, and trust in politicians, in the lead up to the next Senedd elections in 2026. While the report sets out options for change, the Welsh government has already promised to introduce a legal ban (in some form) before the next election.

These efforts see Wales become the first UK nation to attempt to tackle the problem of dwindling trust in politics by modern day legislative force.

Those championing the changes refer to how the deliberate rise in campaigns of misinformation, by those of all political persuasions, have in some instances led to electoral victories overseas.

The need to act is also reflected in the public’s perception. Surveys have consistently found that trust in politicians to tell the truth has declined. A survey in 2023 placed politicians as the least trusted profession in the UK. Just 9% of the public said they trusted elected officials to tell the truth.

More recently, findings from the British social attitudes report in 2024 revealed that the public is as critical now of how the UK is governed as it has ever been. A record high of 45% of respondents said they now “almost never” trust governments of any party to place the needs of the nation above the interests of their own political party.

Restoring trust

The Senedd committee had considered three different options for restoring trust.

First, to create a criminal offence of deception. Second, to use an existing investigative body such as the Public Services Ombudsman for Wales, and to bring in a civil sanction such as a fine. And third, to strengthen the code of conduct for Senedd members with enhanced sanctions. In other words, it would be dealt with through the Senedd’s own disciplinary procedures.

To a certain degree there are some mechanisms already in place for dealing with deception in Welsh politics. For example, politicians are already expected to adhere to the seven principles of public life, which include honesty and integrity.

Generally speaking, opposition Senedd members will hold the Welsh government to account by questioning and scrutinising their work. It is also possible to stage votes of no confidence as an accountability mechanism.

Although as seen in the case of former first minister Vaughan Gething, it is questionable as to the extent to which they can be enforced. Gething initially refused to step down after losing such a vote.

The electorate also has an important role to play in holding politicians to account. Ultimately an untrustworthy politician should, in theory at least, be unlikely to win any election. But Senedd elections only take place every five years.

The standards of conduct committee already has the power to review complaints referred to it. It also has responsibility for reviewing the code of conduct for members of the Senedd, guidance on the code and complaints procedures, and rules for lobbying.

Part of the perceived problem with this is that the committee is made up of Senedd members and are, therefore, responsible for setting the rules for themselves. Or alternatively, as Plaid Cymru MS Adam Price (who has campaigned on this issue for many years) put it, it’s like marking your own homework. The committee’s report offers a potential of recommending appointing lay members to sit alongside them.

Proposals to legislate against politicians who lie in Wales were first raised by the Plaid Cymru MS, Adam Price.
ComposedPix/Shutterstock

Some may be concerned about the practical complexities of disqualifying candidates and Senedd members, and where that may, in turn, leave democracy and democratic processes. If sanctions were to be introduced, questions could also be raised about the potential for vexatious complaints to discredit electoral candidates.

Read more:
Wales could become world’s first country to criminalise politicians who lie

In respect of making “deception” a criminal offence, concerns may have been raised about the constitutional principle of separation of powers, and whether it should truly be for unelected judges to take decisions about the democratically elected arm of the state. Or whether that could lead to the politicisation of the judiciary.

While, research had found that more than two-thirds of Welsh voters supported a law criminalising political lying, judicial adjudication for serving Senedd members has been ruled out. The report also details concerns from the legal professions that existing resource pressures on the courts would have lead to long disputes, rather than the swift resolutions.

But in reality, we are talking about strengthening safeguards for maintaining standards in public offices. In particular addressing deliberate mistruths by politicians to secure deceitful advantages during an election.

In that sense, the new legislation is essentially bringing the political profession in line with others such as lawyers, doctors, journalistic and financial institutions, by having clearer repercussions when they lie and fail to maintain professional standards.

Given the need for something to change in order to restore trust, and the extensive powers that politicians have to affect the lives of citizens, it is clear why Wales is trying a different approach towards restoring trust.

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

– ref. Wales wants to punish lying politicians – how would it work? – https://theconversation.com/wales-wants-to-punish-lying-politicians-how-would-it-work-248728

MIL OSI – Global Reports –

February 25, 2025
MIL-OSI Global: Donald Trump wants to bring back plastic straws, but the world is going in another direction

Source: The Conversation – UK – By Randa Lindsey Kachef, Research affiliate, King’s College London

David Pereiras / shutterstock

Donald Trump recently surprised the world again by signing an action to end what he describes as the “forced use” of paper straws. Although there is some merit in the argument the White House presents that paper straws simply aren’t fit for purpose, what the paper straw revolution represents is the power of individual change in enacting progressive policy.

Much like recent EU legislation which required all plastic bottles to have caps attached by a tether, the removal of items that tend to be easily littered is a way to help people be more environmentally cautious without any extra effort. Unfortunately, the paper straw appears to have failed in this endeavour.

We should not stop this trajectory because of one fail, however. Even if paper straws are not a viable option, we mustn’t let their fate undermine all initiatives to reduce the impacts of single use plastics.

The story behind the move away from plastic straws began in 2015, when a disturbing video of a turtle having a plastic straw removed from its nose went viral. Unfortunately this appears to be a common occurrence, with a video of a turtle with a plastic fork in its nose posted only a few months later. This shows plastic straws themselves are not the issue and that there is a wider problem that everyone should be aware of: plastic which ends up in the ocean is often mistaken for food and eaten by wildlife.

Paper problems

Admittedly, anyone who has used a paper straw will agree that they are not a viable alternative to plastic. The obvious complaint is that they get soggy too quickly. But there are several unseen components that show the switch to paper may not be as great as we once thought.

Paper, but plastic-coated?
Sia Footage / shutterstock

To begin with, in an effort to keep them water-resistant, paper straws themselves are coated in plastic. This means they cannot be recycled. As they are an organic material, they release greenhouse gas when they decompose in landfill – they can however safely be incinerated, something that is not widely recommended for their plastic counterparts.

As the demand for paper straws skyrocketed, this created a deficit in production, leading to the development of new manufacturing facilities, construction that in itself has a significant environmental impact. Meanwhile, the heavier weight of paper straws can lead to an increase in freighting fuel consumption and associated emissions.

Flimsy plastics are more likely to be littered

Anything, however, is better than plastic. A somewhat misleading statistic that plastic straws account for a mere 0.025% of ocean plastics has been circulating in the argument to bring them back. Although this is true by volume, it is not a correct representation of the sheer number of individual straws recorded in the environment which is suspected to be as many as 8.3 billion, about one per person on earth.

The fact straws are so small and lightweight is a big part of the problem, since smaller and more easily fragmented items are far harder to collect. As litter, they punch above their weight.

A child’s plastic beach toy may weigh as much as a few hundred plastic straws, but if littered the straws would do more harm to the environment and wildlife, and would look worse. As straws are made of polypropylene, a flimsier more brittle type of plastic, it doesn’t take much effort for them to break apart into bite sized pieces. Because of this, straws turn into microplastics much quicker than the toy, which has a higher chance of eventually being picked up.

To this day, straws continue to to be on the top ten types of plastics found on beaches, and we have yet to see any videos of larger pollutants like those beach toys being pulled from the nose of any animal.

Although we could argue indefinitely as to which straw materials are worse (reuseable metal or glass straws require water and a cleaning agent, another potential contaminant) the overarching sentiment is the most alarming component of Trump’s announcement.

Paper straw pressue came from below

The move towards paper straws was a refreshing direction in environmental preservation, in that it was initiated locally and by producers, not through legislation. In the summer of 2018 Seattle became the first US city to enforce a ban on plastic utensils, straws and cocktail sticks. Soon thereafter, McDonald’s, Starbucks, Alaska Airlines and many others announced they would stop the sale of plastic straws.

Later that year, the UK government and European Union began consultations for national bans which came into effect in 2020 and 2021 respectively. In 2019 Canada followed suit with a ban coming into law in 2022.

It was not until July of 2024 that the then US president, Joe Biden announced his plan to phase out single-use plastics (although the fact sheet and official press release has now been removed from the White House website). This was several years after the global movement got underway – accompanied by the first complaints from Trump on the topic in 2019.

It is important to note that both the EU and UK bans on plastic straws included stirrers and cotton bud sticks. However their removal from the market caused little to no controversy, mostly because there are adequate alternatives.

Litter producers can drive change

What the movement towards paper straws represents is the power of producers to drive change, in a bottom-up approach. A similarly encouraging scenario can be seen in attitudes towards polystyrene.

Back in 2019 Dunkin’ Donuts announced it would stop using foam cups in certain US markets, and delivered a full removal of the cups in the US by early 2020, while in January 2025 California introduced a state wide polystyrene ban. Meanwhile, negotiations on a global plastics agreement remain indecisive.

In the wake of a pattern of stalemate and regressive policy, it is on the consumers and producers to take action. We must continue to support producers who invest in innovation to address these issues in a way that makes our lives easier and cleaner.

Don’t have time to read about climate change as much as you’d like?

Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

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

– ref. Donald Trump wants to bring back plastic straws, but the world is going in another direction – https://theconversation.com/donald-trump-wants-to-bring-back-plastic-straws-but-the-world-is-going-in-another-direction-250449

MIL OSI – Global Reports –

February 25, 2025
MIL-OSI United Kingdom: Boost for UK economy as Arbitration Act receives Royal Assent
Source: United Kingdom – Executive Government & Departments

Press release

Boost for UK economy as Arbitration Act receives Royal Assent

A new law to help the UK’s legal services sector maintain pole position and which will deliver millions more to grow the economy and help implement our Plan for Change.
New law to turbocharge UK’s position as the world-leader in arbitration

Modernised dispute resolution to attract more international business

Sector already worth £2.5bn boosted as part of Plan for Change to support growth

The Arbitration Act, which received Royal Assent today (Monday 24 February), will help attract even more businesses from around the world to invest in the UK. It will re-enforce Britain’s position as the best place to resolve disputes without having to go to court.

This arbitration process saves companies significant costs in legal fees by providing a quicker alternative to court and reducing acrimony between the parties. Every year there are at least 5,000 domestic and international arbitrations in England and Wales – contributing at least £2.5 billion to the UK economy annually in fees alone.

Modernising arbitration law will ensure the UK remains the global destination of choice for the legal sector, outstripping competitors such as Singapore, Hong Kong and Paris. This will help generate greater employment in the sector to bring even more investment into the UK.

Minister for Courts and Legal Services, Sarah Sackman KC MP, said:

The UK’s legal sector contributes billions to the economy and employs hundreds of thousands across the country.  

Companies from across the world look to the UK for our legal services and dispute resolution. This new Act ensures that arbitration law keeps this country ahead of the rest and supports economic growth as part of this government’s Plan for Change.

Today’s new law makes arbitration fairer and more efficient by simplifying procedures to reduce costs and protecting arbitrators from unreasonable lawsuits. It also strengthens the courts’ powers to support emergency arbitration so time-sensitive decisions can be made more easily.

International arbitration is a major and growing area of activity. Industry estimates suggest the sector grew by around 26% between 2016 and 2020, and in the past 10 years, UK exports of legal services have risen by more than 80%.

Cristen Bauer, Head of Policy, Chartered Institute of Arbitrators, said:

As the leading professional body globally for dispute resolvers, we are delighted to see the Arbitration Act reach Royal Assent. We worked closely with the UK Law Commission and other officials during the review of the Arbitration Act 1996, and were pleased that the majority of our recommendations were included in the final report, and that all of the review’s recommendations were adopted.

The Arbitration Act will strengthen London’s position as an arbitration seat, and continue to set a high standard internationally. We look forward to seeing the positive impact of the Arbitration Act 2025 for many years ahead.

This Act supports economic growth in a multi-billion-pound sector – the UK is the largest legal market in Europe and is second only to the US globally.

The new laws are the latest step in the government’s work to support the sector to grow. This includes the GREAT Legal Services campaign which was launched in 2017 to promote the strength of English and Welsh Law, the UK’s world-renowned independent judiciary, and our legal expertise to the global market.

The latest figures from 2022 show that the UK’s legal sector generated £34 billion. This will be enhanced by key agreements in recent months including with Japan, Greece and Malaysia to allow UK lawyers to practise abroad.

The government asked the Law Commission to review the law to ensure the UK remains ahead of the curve when it comes to dispute resolution. They consulted extensively before making recommendations which have been accepted in full.

Once in force, the Arbitration Act will:   

Clarify which law underpins individual arbitration agreements thereby improving legal certainty and speeding up arbitrations.

Empower arbitrators to speed-up decisions on issues that have no real prospect of success to make arbitration more efficient.

Introduce a duty on arbitrators to tell parties any circumstances which could cast reasonable doubt on their impartiality in deciding an outcome of a dispute.

Empower the court to better support arbitration through orders supporting the actions of emergency arbitrators to enhance their effectiveness, and orders against third parties (those not involved in the proceedings) to for example preserve evidence or take witness evidence.

Extend arbitrator immunity against liability for resignations and the costs of the application to court for their removal, to support arbitrators to make impartial decisions.

Simplify court procedures related to arbitration to increase clarity as well as reduce delays and costs for parties.

The new law will be commenced through regulations as soon as practicable.

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Published 24 February 2025
MIL OSI United Kingdom –
February 25, 2025
MIL-OSI United Nations: Human Rights ‘Oxygen of Humanity’, Critical to Sustainable Peace, Says Secretary-General

Source: United Nations 4

Following are UN Secretary-General António Guterres’ remarks to Human Rights Council, in New York today:

We begin this session under the weight of a grim milestone — the third anniversary of the Russian Federation’s invasion of Ukraine, in violation of the Charter of the United Nations. More than 12,600 civilians killed, with many more injured. Entire communities reduced to rubble. Hospitals and schools destroyed. We must spare no effort to bring an end to this conflict, and to achieve a just and lasting peace in line with the UN Charter, international law and General Assembly resolutions.

Conflicts like the war in Ukraine exact a heavy toll. A toll on people. A toll on fundamental principles like territorial integrity, sovereignty and the rule of law. And a toll on the vital business of this Council.

Without respect for human rights — civil, cultural, economic, political and social — sustainable peace is a pipedream. And like this Council, human rights shine a light in the darkest places.

Through your work, and the work of the High Commissioner’s Office around the world, you’re supporting brave human rights defenders risking persecution, detention and even death. You’re working with Governments, civil society and others to strengthen action on human rights. And you’re supporting investigations and accountability.

Five years ago, we launched our Call to Action for Human Rights, embedding human rights across the work of the United Nations around the world in close cooperation with our partners. I will continue supporting this important work, and the High Commissioner’s Office, as we fight for human rights everywhere. We have our work cut out for us.

Human rights are the oxygen of humanity. But, one by one, human rights are being suffocated. By autocrats, crushing opposition because they fear what a truly empowered people would do. By a patriarchy that keeps girls out of school, and women at arm’s length from basic rights. By wars and violence that strip populations of their right to food, water and education. By warmongers who thumb their nose at international law, international humanitarian law and the UN Charter.

Human rights are being suffocated by the climate crisis. And by a morally bankrupt global financial system that too often obstructs the path to greater equality and sustainable development. By runaway technologies like artificial intelligence (AI) that hold great promise, but also the ability to violate human rights at the touch of a button. By growing intolerance against entire groups — from Indigenous Peoples, to migrants and refugees, to the lesbian, gay, bisexual, transgender, queer, intersex and other identities (LGBTQI+) community, to persons with disabilities. And by voices of division and anger who view human rights not as a boon to humanity, but as a barrier to the power, profit and control they seek.

In short — human rights are on the ropes and being pummelled hard. This represents a direct threat to all of the hard-won mechanisms and systems established over the last 80 years to protect and advance human rights.

But, as the recently adopted Pact for the Future reminds us, human rights are, in fact, a source of solutions. The Pact provides a playbook on how we can win the fight for human rights on several fronts.

First — human rights through peace and peace through human rights. Conflicts inflict human rights violations on a massive scale. In the Occupied Palestinian Territory, violations of human rights have skyrocketed since the horrific Hamas attacks of 7 October 2023 and the intolerable levels of death and destruction in Gaza.

And I am gravely concerned by the rising violence in the occupied West Bank by Israeli settlers and other violations, as well as calls for annexation. We are witnessing a precarious ceasefire. We must avoid at all costs a resumption of hostilities. The people in Gaza have already suffered too much.

It’s time for a permanent ceasefire, the dignified release of all remaining hostages, irreversible progress towards a two-State solution, an end to the occupation and the establishment of an independent Palestinian State, with Gaza as an integral part.

In Sudan, bloodshed, displacement and famine are engulfing the country. The warring parties must take immediate action to protect civilians, uphold human rights, cease hostilities and forge peace. And domestic and international human rights monitoring and investigation mechanisms should be permitted to document what is happening on the ground.

In the Democratic Republic of the Congo, we see a deadly whirlwind of violence and horrifying human rights abuses, amplified by the recent M23 [23 March Movement] offensive, supported by the Rwandan Defence Forces. As more cities fall, the risk of a regional war rises.

It’s time to silence the guns. It’s time for diplomacy and dialogue. The recent joint summit in the United Republic of Tanzania offered a way forward with a renewed call for an immediate ceasefire. The sovereignty and territorial integrity of the Democratic Republic of the Congo must be respected. The Congolese people deserve peace.

In the Sahel, I call for a renewed regional dialogue to protect citizens from terrorism and systemic violations of human rights, and to create the conditions for sustainable development.

In Myanmar, the situation has grown far worse in the four years since the military seized power and arbitrarily detained members of the democratically elected Government. We need greater cooperation to bring an end to the hostilities and forge a path towards an inclusive democratic transition and a return to civilian rule, allowing for the safe return of the Rohingya refugees.

And in Haiti, we are seeing massive human rights violations — including more than a million people displaced, and children facing a horrific increase in sexual violence and recruitment into gangs. In the coming days, I will put forward proposals to the United Nations Security Council for greater stability and security for the people of Haiti — namely through an effective UN assistance mechanism to support the Multilateral Security Support mission, the national police and Haitian authorities. A durable solution requires a political process — led and owned by the Haitian people — that restores democratic institutions through elections.

The Pact for the Future calls for peace processes and approaches rooted in the Universal Declaration of Human Rights, international law and the UN Charter. It proposes specific actions to prioritize conflict prevention, mediation, resolution and peacebuilding. And it includes a commitment to tackle the root causes of conflict, which are so often enmeshed in denials of basic human needs and rights.

Second — the Pact for the Future advances human rights through development. The Sustainable Development Goals (SDGs) and human rights are fundamentally intertwined. They represent real human needs — health, food, water, education, decent work and social protection.

With less than one fifth of the Goals on track, the Pact calls for a massive acceleration through an SDG Stimulus, reforming the global financial architecture, and taking meaningful action for countries drowning in debt. This must include focused action to conquer the most widespread human rights abuse in history — inequality for women and girls.

The Pact calls for investing in battling all forms of discrimination and violence against women and girls, and ensuring their meaningful participation and leadership across all walks of life. And along with the Declaration on Future Generations, the Pact calls for supporting the rights and futures of young people through decent work, removing barriers for youth participation, and enhancing training. And the Global Digital Compact calls on nations to champion young innovators, nurture entrepreneurial spirit and equip the next generation with digital literacy and skills.

Third — the Pact for the Future recognizes that the rule of law and human rights go hand-in-hand. The rule of law, when founded on human rights, is an essential pillar of protection. It shields the most vulnerable. It’s the first line of defence against crime and corruption. It supports fair, just and inclusive economies and societies. It holds perpetrators of human rights atrocities to account. It enables civic space for people to make their voices heard — and for journalists to carry out their essential work, free from interference or threats. And it reaffirms the world’s commitment to equal access to justice, good governance and transparent and accountable institutions.

Fourth — human rights through climate action. Last year was the hottest on record — capping the hottest decade on record. Rising heat, melting glaciers and hotter oceans are a recipe for disaster. Floods, droughts, deadly storms, hunger, mass displacement — our war on nature is also a war on human rights. We must choose a different path.

I salute the many Member States who legally recognize the right to a healthy environment — and I call on all countries to do the same. Governments must keep their promise to produce new, economy-wide national climate action plans this year, well ahead of thirtieth UN Climate Change Conference in Brazil. Those plans must limit the rise in global temperature to 1.5°C — including by accelerating the global energy transition.

We also need a surge in finance for climate action in developing countries, to adapt to global heating, slash emissions and accelerate the renewables revolution, which represents a massive economic opportunity. We must stand up to the misleading campaign of many in the fossil fuel industry and its enablers who are aiding and abetting this madness, while also protecting and defending those on the front lines of climate justice.

And fifth — human rights through stronger, better governance of technology. As fast-moving technologies expand into every aspect of our lives, I am deeply concerned about human rights being undermined.

At its best, social media is a meeting ground for people to exchange ideas and spark respectful debate. But, it can also be an arena of fiery combat and blatant ignorance. A place where the poisons of misinformation, disinformation, racism, misogyny and hate speech are not only tolerated — but often encouraged. Verbal violence online can easily spill into physical violence in real life.

Recent rollbacks on social media fact-checking and content moderation are reopening the floodgates to more hate, more threats and more violence. Make no mistake. These rollbacks will lead to less free speech, not more, as people become increasingly fearful to engage on these platforms. Meanwhile, the great promise of AI is matched by limitless peril to undermine human autonomy, human identity, human control — and yes, human rights.

In the face of these threats, the Global Digital Compact brings the world together to ensure that human rights are not sacrificed on the altar of technology. This includes working with digital companies and policymakers to extend human rights to every corner of cyberspace — including a new focus on information integrity across digital platforms.

The Global Principles for Information Integrity I launched last year will support and inform this work as we push for a more humane information ecosystem.

The Global Digital Compact also includes the first universal agreement on the governance of AI that brings every country to the table and commitments on capacity-building, so all countries and people benefit from AI’s potential. By investing in affordable Internet, digital literacy and infrastructure. By helping developing countries use AI to grow small businesses, improve public services and connect communities to new markets. And by placing human rights at the centre of AI-driven systems.

The Pact’s decisions to create an Independent International Scientific Panel on AI and an ongoing Global Dialogue that ensure all countries have a voice in shaping its future are important steps forward. We must implement them.

We can help end the suffocation of human rights by breathing life into the Pact for the Future and the work of this Council. Let’s do that together. We don’t have a moment to lose.

MIL OSI United Nations News –

February 25, 2025
MIL-OSI Canada: Premier Leads Delegation of Saskatchewan Industry Leaders to Washington

Source: Government of Canada regional news

Released on February 24, 2025

Today, Premier Scott Moe is leading a mission to Washington, D.C. alongside several Saskatchewan businesses and organizations. The delegation will meet with U.S. decision makers and business leaders to underscore the importance of a strong integrated economy.

“Saskatchewan companies play a critical role in North American food and energy security,” Moe said. “I am returning to Washington to continue our efforts in de-escalating the threat of potential tariffs from, our largest trading partner, the U.S. The relationship between our jurisdictions has mutual benefit, and we are working with key stakeholders, industry leaders and government representatives on both sides of the border to build and protect our economies.”

Saskatchewan’s delegation includes representatives from Cameco, Evraz, Arizona Lithium, Cenovus, Whitecap Resources, Enbridge, North American Helium and the Saskatchewan Chamber of Commerce.

Minister of Agriculture Daryl Harrison is also traveling to Washington to attend the 2025 Winter Policy Conference of the National Association of State Department of Agriculture (NASDA) this week. The conference offers a unique opportunity to meet with state secretaries, commissioners and directors of agriculture, industry leaders and federal representatives to talk pressing agriculture and food policy issues.

“The future of Saskatchewan’s agricultural sector is built on strong international relationships and our trade mission to the U.S. reinforces our commitment to open markets and collaboration,” Harrison said. “Attending NASDA’s Winter Policy Conference allows us to showcase Saskatchewan’s world-class agri-food products and the contribution we make to North American competitiveness and food security, and to strengthen partnerships and advocate for policies that benefit our producers.”

This advocacy is crucial to strengthening key relationships and emphasizing how highly integrated both economies are.

“Canada and the United States have a long-standing, positive commercial relationship in the civilian nuclear sector that has spurred economic growth and increased both energy and national security,” Cameco CEO Tim Gitzel said. “The Trump Administration’s pursuit of energy dominance and its support for domestic nuclear power will require Saskatchewan uranium – and Cameco’s expertise and capacity across the nuclear fuel cycle.”

The U.S. is Saskatchewan’s largest and most important trading partner. About $40 billion worth of imports and exports cross the border every year. Canada and U.S. are much stronger when operating in a tariff-free environment.

“Our Chamber colleagues in the United States share our commitment to open and mutually beneficial trade relationships, and today, we reaffirm that shared priority,” Saskatchewan Chamber of Commerce CEO Prabha Ramaswamy said. “Through this mission, we aim to shape perspectives and inform decision-making by highlighting the economic consequences of tariffs on both of our economies.”

In 2024, Saskatchewan’s top exports to the U.S. were crude oil ($12.5 billion), potash ($4.2 billion), and canola oil ($2.9 billion). Agri-food products represented 21.9 per cent of total exports.

Saskatchewan exports lower the cost of living for millions of Americans and result in thousands of jobs on both sides of the border.

This mission runs from February 24 to 27, 2025.

-30-

For more information, contact:

MIL OSI Canada News –

February 25, 2025

MIL-OSI: OMERS Earns $10.6 billion in Investment Income in 2024

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) — OMERS, the defined benefit pension plan for Ontario’s broader municipal sector employees, achieved a 2024 investment return of 8.3%, or $10.6 billion, net of expenses, exceeding its 7.5% benchmark for the year. Net assets at December 31, 2024, grew to $138.2 billion from $128.6 billion in 2023. The Plan reported a smoothed funded status of 98%, up from 97% in 2023. Over the past 10 years, OMERS has averaged an annual investment return of 7.1%, net of expenses, adding $70.5 billion to the Plan.

“Our strong result in 2024 reflects the quality of our people and portfolio, our active strategic decisions, and our steady progress as a long-term investor. Since becoming CEO of OMERS, I have been incredibly proud of the work of our leaders and their teams, as well as the forward-thinking strategies we have implemented over the last four years as we emerged from the pandemic. This combination has generated an average annual net return of 8.1% during that period,” said Blake Hutcheson, OMERS President and Chief Executive Officer. “As we look to the future, we are steadfast in our view that quality will see us through an unpredictable global landscape and the cycles ahead. Our talented team is focused on delivering our pension promise and is honoured to work in service of our almost 640,000 members.”

“Our actions to diversify the global portfolio positioned the Plan well in 2024,” said Jonathan Simmons, OMERS Chief Financial and Strategy Officer. “OMERS public equity investments delivered double-digit performance supported by strong contributions from private credit and infrastructure. Our net investment results benefitted from our active strategy to maintain currency exposure to the US dollar. Our real estate assets continue to generate strong operating income, but returns were held back due to lower valuations. Our asset mix continued to shift toward a higher exposure to fixed income, where return opportunities remain attractive. We expanded our overall use of leverage as we continued to use debt prudently to enhance our investment returns.”

This year, we are reporting that OMERS achieved a 58% reduction in its portfolio carbon emissions intensity, relative to 2019, and we reported an increase in green investments to $23 billion. For more information on how we define green investments, please refer to the OMERS Climate Taxonomy.

OMERS is highly rated across independent credit rating agencies, including ‘AAA’ ratings from S&P, Fitch, and DBRS.

OMERS will publish its 2024 Annual Report on February 28, 2025.

Media Contact:

Don Peat
dpeat@omers.com
416.417.7385

About OMERS

OMERS is a jointly sponsored, defined benefit pension plan, with 1,000 participating employers ranging from large cities to local agencies, and almost 640,000 active, deferred and retired members. Our members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers, and originating and managing a diversified portfolio of high-quality investments in government bonds, public and private credit, public and private equities, infrastructure and real estate.

Net Investment Returns for the years ended December 31

	2024	2023
Government Bonds	1.0%	5.8%
Public Credit	6.0%	6.2%
Private Credit	12.6%	10.0%
Public Equities	18.8%	10.4%
Private Equities	9.5%	3.9%
Infrastructure	8.8%	5.5%
Real Estate	-4.9%	-7.2%
Total Net Return	8.3%	4.6%

2024 Asset Mix

2024 Highlights

By the numbers

2024 investment return of 8.3%, or $10.6 billion, net of expenses
$138.2 billion in net assets
10-year average annual net return of 7.1%
639,546 OMERS members
98% smoothed funded ratio
3.70% real discount rate, 5 basis points lower than 2023
$6.5 billion total pension benefits paid
We are reporting a 58% reduction in the portfolio carbon emissions intensity, relative to 2019
$23 billion in green investments
96% OMERS member service satisfaction
93% of employees are proud to work for OMERS and Oxford (+5 points above best-in-class)

Transactions in 2024

OMERS remains focused on deploying capital in line with our target asset mix. We are a disciplined investor in high-quality assets that meet the Plan’s risk and return requirements. Please find below highlights of investments made in 2024.

Acquired Italy’s Grandi Stazioni Retail which manages the entirety of commercial and advertising spaces in 14 of Italy’s major railway stations and hubs for the high-speed rail network, which collectively receive over 800 million visits a year. The stations include over 800 commercial units, totaling around 190,000 Sqm of leasable space, and over 1,800 media assets.
Increased our stake by 13.5% in Indian roads business Interise Trust, one of the largest Indian Infrastructure Investment Trusts in the roads sector.
Supported XpFibre to successfully raise €5.8 billion of credit facilities, marking one of the largest multi-sourced transactions in the European digital infrastructure market to date. XpFibre is the largest independent Fibre-to-the-Home (FTTH) operators in France delivering high speed internet to approximately 25% of the French territory in terms of homes passed.
Announced an agreement to acquire Integris, a leading provider of IT services in the United States.
Issued $3.2 billion in bonds by OMERS Finance Trust, including our inaugural AUD offering – an AUD 750 million, 5-year note.
Announced the signing of an exclusive agreement with Maritime Transport at West Midlands Interchange in the UK.
Participated in the US$15M Series A investment into Brightwave, an Al-powered research platform that delivers insightful and trustworthy financial analysis on demand. It was named as one of TIME magazine’s top inventions of 2024.
Participated in two follow-on investments. The first was in Medal, an online platform that lets gamers clip and share video of their gameplay and Altana, a company that applies artificial intelligence to create a dynamic, intelligent map of the global supply chain.
Closed our acquisition of Kenter, an energy infrastructure solutions business providing medium-voltage infrastructure and meters to over 25,000 commercial and industrial business customers in the Netherlands and Belgium.

We rotate capital out of assets with the same level of discipline with which we invest. This activity generates capital, which we deploy into future investment opportunities that align to our strategy. In 2024, we announced or completed the following realizations:

Announced the sale of a stake in East-West Tie Limited Partnership which owns the East-West Tie Line, a 450-kilometre, 230 kV double-circuit transmission line spanning from Wawa to Thunder Bay, along the north shore of Lake Superior.
Completed the sale of LifeLabs, a trusted provider of community laboratory tests for millions of Canadians that had been owned by OMERS since 2007.
Completed a €182.5 million green refinancing on a comprehensively renovated Paris office asset.
Completed the sale of its £518 million UK retail park portfolio.
Completed the sale of CEDA, which had been majority-owned by OMERS since 2005.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/0d74c32c-3c0d-4915-af73-70788746bb63

https://www.globenewswire.com/NewsRoom/AttachmentNg/136a43d0-d624-48ac-bd8c-133cd153643c

The MIL Network –

February 25, 2025

Category: Economy

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