Category: Economy

MIL-OSI: Haffner Energy and ATOBA Energy collaborate to unlock the SAF value chain and scale the market
Source: GlobeNewswire (MIL-OSI)

This strategic partnership secures long-term offtake agreements, unlocking financing and accelerating the scale-up of SAF production.

Vitry-le-François, France / Lyon, France (February 20, 2025, 6:00pm CEST)

Haffner Energy, a leading solid biomass-to-clean fuels solutions provider, and ATOBA Energy, a SAF aggregator committed to unlocking the Sustainable Aviation Fuel (SAF) value chain by solving the financial dilemma between producers and final offtakers, are joining forces to accelerate the development of SAF projects and facilitate their financing, they announced today.

France-based Haffner Energy relies on its 31-year experience to design, manufacture, supply, license, and operate proprietary disruptive clean fuels solutions, including critical technology for SAF production, using all types of biomass residues wet or dry, such as agricultural and municipal waste. The company has already announced the development of a couple of SAF projects, notably Paris-Vatry SAF in France, where full scale production is expected to be reached by 2030 when the next stage of the European SAF mandate kicks in. Partnering with SAF aggregator ATOBA will significantly enhance SAF offtake then.

“We are particularly excited about this partnership with ATOBA, as it will facilitate the financing of our SAF projects, starting with Paris-Vatry. One of the most crucial challenges in securing financing for SAF production facilities is the ability to obtain offtake contracts that guarantee the purchase of SAF at a stable, price for periods exceeding five years. The key advantage provided by ATOBA is that it offers this guarantee while significantly reducing risks and commitments for airline clients. This will facilitate and accelerate their engagement in SAF procurement. As such, it is a win-win model for all stakeholders and we are extremely pleased that ATOBA has identified us as a strategic and unique player in the SAF ecosystem”, said Haffner Energy co-founder and CEO Philippe Haffner.

Indeed, the SAF market is facing challenges in expanding at the rate demanded by environmental needs and regulatory mandates. While producers need long-term, stable pricing contracts to amortize their investments, airlines seek assurance of optimum market prices in the context of a still-immature industry with diverse competing technologies. This conflict of expectations currently hinders the development of SAF production projects, and ATOBA’s unique business model brings the solution.

“We are delighted to launch an offtake agreement with Haffner Energy, a company that has demonstrated for decades the quality and robustness of its biomass transformation technological and industrial solutions. Haffner Energy plays a key role in unlocking second-generation feedstocks, which are essential for both Alcohol-to-Jet and Gas Fischer-Tropsch SAF pathways. At ATOBA, we strongly believe that a variety of technologies and pathways are required to meet our aviation decarbonization targets, as the best production route and feedstock depend on the specific regional characteristics. Having Haffner Energy in our portfolio of SAF producers is an essential brick in our aggregation strategy, reinforcing our ability to provide diversified, reliable, and scalable SAF solutions to the market”, highlighted ATOBA Energy co-founder and CEO Arnaud Namer.

Also based in France, ATOBA uniquely unlocks the SAF financial stalemate through its upstream and downstream SAF offtake portfolio management. By offtaking from diversified producers and technologies like Haffner Energy, ATOBA mitigates technological and pricing risks associated with the various SAF production pathways, and enables the closing of long-term offtake agreements among airlines, jet-fuel distributors, SAF producers, and financial institutions, which are essential for scaling the industry.

About Haffner Energy

Haffner Energy designs, manufactures, supplies, and operates biofuel and hydrogen solutions using biomass residues. Its innovative, patented thermolysis technology produces Logo Blue ATOBA Energy – small Sustainable Aviation Fuel, as well as renewable gas, hydrogen, and methanol. The company also contributes to regenerating the planet through the co-production of biogenic CO₂ and biochar. A family-owned company co-founded 32 years ago by Marc and Philippe Haffner, Haffner Energy has been working from the outset to decarbonize industry and all forms of mobility, as well as governments and local communities. Further information is available at www.haffner-energy.com.

About ATOBA Energy

ATOBA is the midstream Sustainable Aviation Fuel (SAF) aggregator focused on accelerating the aviation industry’s energy transition through solving the financial dilemma between airlines and producers. ATOBA provides long-term SAF contracts to airlines and jet-fuel resellers at optimized market SAF pricing indexes. The company brings high security and competitiveness to the SAF supply chain for its airline partners via offtake from diversified producers and technologies, as well as best-in-class sector expertise. Simultaneously, ATOBA’s aggregation strategy allows the SAF industry to scale by providing producers with long-term offtake agreements that support their Final Investment Decisions for their SAF production plants. Further information is available at www.atoba.energy

Media relations

Haffner Energy laetitia.mailhes@haffner-energy.com tel. +33 (0)6 07 12 96 76

ATOBA Energy press@atoba.energy tel. +33 (0)6 11 65 92 74

Investor relations

Haffner Energy investisseurs@haffner-energy.com

ATOBA Energy investors@atoba.energy tel. +1 310 874 7871

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The MIL Network –
February 21, 2025
MIL-OSI Economics: ACP Announces 2025 Board of Directors

Source: American Clean Power Association (ACP)

Headline: ACP Announces 2025 Board of Directors

WASHINGTON, D.C., February 20, 2025 — The American Clean Power Association (ACP), the clean energy industry’s leading trade organization, has announced its new 2025 Officers, Board of Directors, and Executive Committee.
ACP’s new Board features executives from diverse industries investing in America, including leaders across solar, storage, offshore and land-based wind, clean hydrogen, and transmission, as well as manufacturers, financial firms, utilities, construction companies, and developers.
“After many years with the organization, I am honored to now serve as ACP Board Chair and eager to tackle the challenges facing the renewable energy industry,” said Laura Beane, ACP Board Chair and President of Vestas North America. “Our nation requires an all-of-the-above energy approach to drive development, strengthen U.S. energy dominance, and create generational jobs for Americans across the country. I believe this Board is well-equipped to deliver solutions that will advance our priorities and accelerate domestic energy growth to meet the surge in demand.”
The new Board and Officers were approved at ACP’s February Board meeting and will serve a one-year term. They include:
Chair: Laura Beane, President, Vestas North America 
Chair-Elect: David Carroll, Chief Renewables Officer, ENGIE North America
Treasurer: Brian Van Abel, Executive Vice President and Chief Financial Officer, Xcel Energy 
Secretary: David Hardy, Global Chief Commercial Officer, GE Vernova Wind
“During a period of rapid demand growth and a push for American energy dominance, leadership in the energy industry has never been more consequential. The 2025 ACP Board represents a wide-ranging group of strong leaders who are meeting the moment,” said ACP CEO Jason Grumet. “Harnessing America’s diverse energy resources is essential to our national security and global power. The ACP Board encourages collaboration across all energy sectors and will drive the policies and innovations needed to contribute to an all-of-the-above energy strategy, strengthen our economy, and secure America’s energy future.”
The ACP Board has also selected a new Executive Committee. Along with the Officers, the committee will include executives from these clean energy-focused companies:
AES Clean Energy: Kleber Costa, Chief Commercial Officer
Array Technologies: Kevin Hostetler, Chief Executive Officer
Avangrid Renewables: Puneet Verma, Vice President, Federal Government Affairs
BHE Renewables: Alicia R. Knapp, President and CEO
Dominion Energy: Mark Mitchell, SVP of Project Construction
ENGIE North America: David Carroll, Chief Renewables Officer
Fluence: John Zahurancik, President Americas
Form Energy: Mateo Jaramillo, CEO and Co‐Founder
GE Vernova Wind: David Hardy, Global Chief Commercial Officer
Grid United: Alistair Vickers, Chief Operating Officer
Intersect Power: Sheldon Kimber, CEO, Founder
Invenergy: Jim Murphy, President & Co-Founder
ITC Holdings Corp.: Krista Tanner, President
LS Power: Paul Segal, Chief Executive Officer
NextEra Energy Resources, LLC: Philip A. Musser, Vice President – Head of Government Affairs
Southern Power: John L. Pemberton, Senior Vice President, Chief Compliance Officer & General Counsel
Vestas North America: Laura Beane, President
Xcel Energy: Brian Van Abel, EVP & CFO
Ex Officio Roles
HASI: Susan D. Nickey, Executive Vice President & Chief Client Officer
Ørsted Wind Power North America LLC: Amanda Dasch, CEO Region Americas
The 2025 ACP Board of Directors also includes: 
American Electric Power: Greg Hall, Executive Vice President & Chief Commercial Officer
Apex Clean Energy Inc.: Ken Young, President and Chief Executive Officer
Clearway Energy Group: Craig Cornelius, President and CEO
Cypress Creek Renewables LLC: Sarah Slusser, CEO
EDF Renewables North America: Tristan Grimbert, President & Chief Executive Officer
EDP Renewables North America LLC: Sandhya Ganapathy, CEO
energyRe: Miguel Prado, Chief Executive Officer
Eolian: Stephanie Smith, COO
Equinor: Molly Morris, President, Renewables Americas
Leeward Renewable Energy, LLC: Jason Allen, Chief Executive Officer
LG Vertech: Jaehong Park, President and CEO
MasTec Inc.: Jose Mas, CEO
Mortenson: Mark Donahue, Executive Vice President
Nextracker: Dan Shugar, Founder and CEO
Nordex Group: Manav Sharma, Chief Executive Officer – North America
Pattern Energy Group Services, LP: Hunter Armistead, Chief Executive Officer
Pine Gate Renewables: Ben Catt, CEO
Quanta Services: B.J. Ducey, President of Strategic Operations
RWE Clean Energy: Andrew Flanagan, CEO
Shell New Energies US LLC: Nick Lincon, VP Onshore Renewables North America & President, Savion
SOLV Energy: George Hershman, Chief Executive Officer
TPI Composites, Inc.: Bill Siwek, President and CEO
WECS Renewables: Theresa Eaton, CEO, Chair & Owner
Xcel Energy: Brian Van Abel, EVP & CFO

MIL OSI Economics –

February 21, 2025
MIL-OSI Security: Houston Resident Pleads Guilty to Laundering Proceeds From $40 Million Fraud Scheme

Source: Federal Bureau of Investigation (FBI) State Crime News

HOUSTON – A 43-year-old man has admitted to laundering proceeds from a large-scale bank fraud scheme, announced U.S. Attorney Nicholas J. Ganjei.

Bun Khath admitted that from 2016 to 2021, he conspired with others in a bank fraud scheme involving dozens of loans totaling at least $40 million in fraudulent loan proceeds.

As part of the plea, Khath acknowledged opening and maintaining shell companies and bank accounts to collect money from the scheme and then laundering the fraud proceeds by wiring them to bank accounts other co-conspirators controlled.

Khath and others accomplished the bank fraud by preparing loan applications that contained false and fraudulent information and documents, including fake equipment sales invoices, income tax returns and financial and bank statements.

U.S. District Keith Ellison will impose sentencing April 29. At that time, Khath faces up to 10 years in federal prison and a $250,000 possible fine or twice the amount involved in the transaction.

He was permitted to remain on bond pending that hearing.

Another Houston resident charged in the case – Hugo Villanueva, 70, – is considered a fugitive, and a warrant remains outstanding for his arrest. Anyone with information about his whereabouts is asked to contact the FBI at 713-693-5000.

The Federal Housing Finance Agency-Office of Inspector General (OIG), IRS-Criminal Investigation, FBI and Federal Deposit Insurance Corporation-OIG conducted the investigation. Assistant U.S. Attorney Belinda Beek is prosecuting the case.

MIL Security OSI –

February 21, 2025

MIL-OSI: Coface : 2024 results: net income at €261.1m, up 8.6%, and proposed dividend at €1.40

Source: GlobeNewswire (MIL-OSI)

2024 results: net income at €261.1m, up 8.6%, and proposed dividend at €1.40

Paris, 20 February 2025 – 17.35

Turnover: €1,845m, down -0.6% at constant FX and perimeter and down -1.3% on a reported basis
- Trade credit insurance revenue decreased by -2.2% at constant exchange rates, with slightly positive customer activity in Q4-24
- Client retention is still high at 92.3% but down slightly from 2023 records; pricing remained negative at -1.4%, in line with historical trends
- Business information once again recorded double-digit growth (+16.3% at constant FX); factoring stabilised at +0.3% with solid growth in Q4-24
Net loss ratio at 35.2%, improved by 2.5 ppts; net combined ratio at 65.5%, up 1.2 ppt
- Gross loss ratio at 33.4%, improved by 2.4 ppts with still high opening year reserving and high reserve releases
- Net cost ratio increased by 3.6 ppts to 30.2%, reflecting slightly lower revenues and continued investment, in line with our strategy
- Net combined ratio in Q4-24 at 68.7%, up 9.7 ppts due to a higher net cost ratio and a very low combined ratio in Q4-23 (59.0%)
Net income (group share) of €261.1m, up +8.6%, of which €53.4m in Q4-24, the highest annual figure since the adoption of IFRS 17. Annualised RoATE¹at 13.9%
Coface continues to be backed by a solid balance sheet:
- Estimated solvency ratio at ~196%², above the upper end of target range (155% to 175%)
- Proposal to distribute³ a dividend per share of €1.40 representing an 80% pay-out ratio
- Earnings per share reached €1.75
Coface signed the acquisition of Cedar Rose, strengthening its capabilities in information services in the Middle East and Africa
Gonzague Noël has been appointed as Group Chief Operating Officer (COO)

Unless otherwise indicated, change comparisons refer to the results as at 31 December 2023

Xavier Durand, Coface’s Chief Executive Officer, commented:
“2024 was marked by the launch of our Power the Core strategic plan which is deliberately focused on innovation.
In an environment characterised by weak economic growth, a decrease of our clients’ activity and an increase in the number of bankruptcies, the discipline of our underwriting enabled us to contain the increase in the combined ratio, which rose moderately to 65.5%. Finally, we benefited from the repositioning of our investment portfolio to achieve a return on average tangible equity of 13.9%, above our mid-cycle targets. The net income of €261m marked the highest level since the transition to IFRS 17.
All these achievements would not have been possible without the engagement of our employees.
These good results and solid solvency ratio of 196% allow us to propose the payment of a dividend of €1.40 per share to the Shareholders’ meeting.”

Key figures at 31 December 2024

The Board of Directors of COFACE SA approved the consolidated financial statements at 31 December 2024 at its meeting of 20 February 2025. The Audit Committee at its meeting on 18 February 2025 also previously reviewed them. Accounts are non-audited, certification is in progress.

Income statements items in €m	2023	2024	Variation	% ex. FX*
Insurance revenue	1,559.1	1,512.9	(3.0)%	(2.2)%
Services revenue	309.2	331.9	+7.4%	+7.4%
REVENUE	1,868.2	1,844.8	(1.3)%	(0.6)%
UNDERWRITING INCOME/LOSS AFTER REINSURANCE	395.4	368.7	(6.8)%	(5.3)%
Investment income, net of management expenses, excluding finance costs	12.4	91.7	638.0%	595.7%
Insurance Finance Expenses	(40.0)	(42.5)	6.4%	12.9%
CURRENT OPERATING INCOME	367.9	417.9	+13.6%	+12.8%
Other operating income / expenses	(5.0)	(8.6)	74.5%	74.2%
OPERATING INCOME	362.9	409.2	+12.8%	+12.0%
NET INCOME (GROUP SHARE)	240.5	261.1	+8.6%	+6.3%

Key ratios	2023	2024	Variation
Loss ratio net of reinsurance	37.7%	35.2%	(2.5)%	ppts
Cost ratio net of reinsurance	26.6%	30.2%	3.6%	ppts
COMBINED RATIO NET OF REINSURANCE	64.3%	65.5%	1.2%	ppt

Balance sheet items in €m	2023	2024	Variation
Total equity (group share)	2,050.8	2,193.6	+7.0%
Solvency ratio	199%	196%¹	-3 ppt

* Also excludes scope impact

¹This estimated solvency ratio constitutes a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.

1. Turnover

In 2024, Coface recorded a consolidated turnover of €1,844.8 million, down by -0.6% at constant FX and perimeter compared to 2023. As reported (at current FX and perimeter), turnover was down -1.3%.

Revenue from insurance activities (including bonding and Single Risk) fell -2.2% at constant FX and perimeter, although the year ended on a slightly more positive note (Q4-24 revenue from insurance activities rose +3.7% and total revenue increased +4.3%). Client retention remains high at 92.3% (but down from the record level in 2023), in a competitive market where Coface implemented risk mitigation plans that impacted renewals at the beginning of the year. New business rose to €126m, up €9m compared to 2023 driven by an increase in demand and the positive effects of investments for growth, mainly in the mid-market segment.

Client activity grew modestly at 0.5%, below the historical average with an improvement in Q4-24 (+0.4%). Over the year, the decline in activity in the metals sector, with lower prices, partially offset the positive trend in the agri-food sector. The price effect remained negative at -1.4% in 2024 (vs. -1.9% in 2023), in line with long-term trends.

Turnover from non-insurance activities was up +8.2% compared to 2023. Factoring turnover stabilised at +0.3% with a positive Q4-24 that reversed the full-year trend. Information services turnover rose +16.3%. Fee and commission income (debt collection commissions) increased by +19.6%, from a low base, due to the increase in claims to be collected and investments made in third-party debt collection. Commissions were up +6.6%.

Total revenue – in €m (by country of invoicing)	2023	2024	Variation	% ex. FX⁴
Northern Europe	379.6	362.2	(4.6)%	(4.6)%
Western Europe	380.1	391.8	+3.1%	+0.4%
Central & Eastern Europe	177.1	173.8	(1.9)%	(3.2)%
Mediterranean & Africa	526.3	538.5	+2.3%	+5.6%
North America	171.8	176.6	+2.7%	(6.4)%
Latin America	100.3	77.7	(22.5)%	+4.0%
Asia-Pacific	133.1	124.3	(6.6)%	(7.1)%
Total Group	1,868.2	1,844.8	(1.3)%	(0.6)%

In Northern Europe, turnover was down by -4.6% at constant and current FX, due to the selective non-renewal of some loss-making policies at the beginning of the year, despite the stabilisation of client activity in Q4-24.

In Western Europe, turnover increased by +0.4% at constant FX (+3.1% at current FX and perimeter following the integration of certain African countries in the first half of the year) thanks to a sharp increase in information services sales (+30.3%) combined with a better Q4-24 in credit insurance under the effect of significant business catch-up.

In Central and Eastern Europe, turnover fell -3.2% at constant FX (-1.9% at current FX) due to the decline in client activity, which weighed on credit insurance, despite a high client retention rate. Factoring was down -1.0% at constant exchange rates.

In the Mediterranean and Africa region, which is driven by Italy and Spain, turnover rose +5.6% at constant FX and +2.3% at current FX driven by robust sales in credit insurance and services and a stronger economic environment.

In North America, turnover was down -6.4% at constant FX but increased by +2.7% at current FX due to the integration of Mexico in this scope. The region saw a slowdown in client activity despite higher retention and a fairly strong economic environment.

In Latin America, turnover rose +4.0% at constant FX but fell -22.5% at current FX. The region is benefiting from a recovery in client activity after 2023 was dominated by risk prevention actions. However, the transfer of Mexico to the North America region had a negative impact.

In Asia-Pacific, turnover decreased by -7.1% at constant FX and -6.6% at current FX. This lower turnover was due to a slowdown in client activity that robust sales were unable to offset and selective non-renewal of certain policies.

2. Result

Combined ratio

The annual combined ratio net of reinsurance was 65.5% in 2024, up 1.2 ppt year on year.

(i) Loss ratio

The gross loss ratio stood at 33.4%, a 2.4 ppts improvement on the previous year. This improvement reflects both the gradual normalisation of the loss experience, offset by rising reserve releases. The amount of claims recorded is now higher than in 2019. The total number of claims decreased, offset by an increase in the number of mid-sized claims.

The Group’s provisioning policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, reflects the increase in the claims frequency. Strict management of past claims enabled the Group to record 51.9 ppts of recoveries.

The net loss ratio improved to 35.2%, down 2.5 ppts compared to 2023.

(ii) Cost ratio

Coface is pursuing a strict cost management policy and is continuing to invest, in line with its Power the Core strategic plan. As a result, over the full year 2024, costs rose by +5.5% at constant FX and perimeter, and by +5.3% at current FX.

The cost ratio before reinsurance was 33.7%, up 2.2 ppts year on year. This rise was mainly due to the decline in revenues (1.0 ppt), embedded cost inflation (1.5 ppt) and ongoing investments (1.5 ppt). In contrast, the improved product mix (information services, debt collection and fee and commission income) had a positive effect. High reinsurance commissions explain the remainder of the variation.

Financial result

Net financial income for 2024 was €91.7m, up sharply compared to 2023. This figure includes capital gains of +€11.4m, which more than offset negative market value adjustments on investments of -€2.9m. The FX effect remained slightly negative at -€2.7m but improved significantly compared to 2023, which was marked by the accounting effect of IAS 29 (hyperinflation) in Turkey and Argentina as well as the sharp devaluation of the Argentine peso.

The portfolio’s current yield (i.e. excluding capital gains, depreciation and FX impact) was €96.6m, of which €25.7m in Q4-24. The accounting yield⁵, excluding capital gains and fair value effect, was 2.9% for 2024. The yield on new investments made year-to-date was 4.1% and fell in Q4-24 in line with the trend in market rates.

Insurance Finance Expenses (IFE) stood at €42.5m (€40.0m in 2023).

Operating income and net income

Operating income amounted to €409.2m in 2024, up +12.0% at constant FX.

The effective tax rate was 29% for the year (vs. 27% in 2023), including the impact of Pillar 2 (global minimum tax).

In total, net income (group share) was €261.1m, up +8.6% compared to 2023.

3. Shareholders’ equity

At 31 December 2024, Group shareholders’ equity stood at €2,193.6m, up €142.8m or +7.0% (€2,050.8m at 31 December 2023).

These changes are mainly due to the positive net income of €261.1m and the dividend payment of -€194.3m. Other items include changes in unrealised capital gains for €72.0m.

The annualised return on average tangible equity (RoATE) was 13.9%, up 0.5 ppt mainly due to the improvement in financial income, which more than offset the decrease in underwriting income (decline in net premiums and slight increase in the combined ratio).

The solvency ratio reached 196%⁶, representing a decrease of 3 ppts compared to FY-23. It remains well above the upper end of the target range (155%-175%).

Coface will propose €1.40 dividend per share at the Shareholders’ meeting, corresponding to a payout ratio of 80%⁷, in line with its capital management policy.

4. Outlook

Once again, the global economy experienced modest growth in 2024 (2.7%), in line with Coface’s forecasts and still driven being by the United States. The electoral calendar, which involved an unprecedented number of countries, delivered generally unsurprising outcomes, with some exceptions.

For 2025, Coface is forecasting growth identical to that of 2024 at 2.7%. Further downgrades to European growth are likely to be offset by the good performance of the United States, while political risk remains. Donald Trump’s return to power seems to have been welcomed by economic circles so far, raising hopes of deregulation, which is stimulating in the short term but often carries longer-term risks. The announced introduction of tariffs for many countries is also a destabilising factor for global trade.

Against this backdrop, Coface is anticipating a continued rise in bankruptcies, as businesses are caught between depleted levels of cheap financing and sluggish growth. Coface and its teams will continue to support their clients in this still uncertain environment.

At the end of 2024, client activity finally posted a slightly positive performance after several quarters of decline. This slight rebound may give hope that the post-Covid decline in client activity has come to an end. In 2025, Coface will continue to implement its Power the Core strategic plan, which aims to develop a leading global ecosystem in credit risk management.

5. Governance evolution

In the Executive Committee:

As of February 1^st, 2025, Carole Lytton leads the Specialties Businesses, in addition to her role as General Secretary. She takes over from Antonio Marchitelli who decided to leave and take another appointment outside Coface after many years of dedication to the Group.
As of February 3^rd, Gonzague Noël has been appointed as Group Chief Operating Officer (COO). He takes over Declan Daly, joins the Group executive committee and reports to Xavier Durand, Coface CEO.

Conference call for financial analysts

Coface’s results for FY-2024 will be discussed with financial analysts during the conference call on Thursday, 20 February 2025 at 18.00 (Paris time). Dial one of the following numbers:

The presentation will be available (in English only) at the following address:
http://www.coface.com/Investors/financial-results-and-reports

Income statements items in €m Quarterly figures	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24	%	% ex. FX*
Insurance revenue	395.3	407.8	384.7	371.3	378.6	375.6	375.9	382.7	+3.1%	+3.7%
Other revenue	79.8	76.8	73.4	79.2	85.0	83.4	78.0	85.5	+8.0%	+7.6%
REVENUE	475.1	484.5	458.1	450.4	463.7	459.1	453.8	468.3	+4.0%	+4.3%
UNDERWRITING INCOME (LOSS) AFTER REINSURANCE	95.3	103.5	91.2	105.4	100.3	94.7	88.8	84.9	(19.5)%	(17.9)%
Investment income, net of management expenses, excluding finance costs	(2.6)	4.0	13.0	(2.0)	17.9	22.8	19.0	31.9	(1667)%	(1568)%
Insurance Finance Expenses	(2.4)	(12.3)	(15.4)	(9.9)	(11.4)	(6.7)	(7.3)	(17.1)	+73.3%	+77.9%
CURRENT OPERATING INCOME	90.4	95.2	88.9	93.5	106.8	110.9	100.5	99.7	+6.7%	+7.9%
Other operating income / expenses	(0.3)	(0.4)	(0.2)	(4.0)	(0.1)	(0.5)	(2.6)	(5.5)	+38.3%	+36.4%
OPERATING INCOME	90.0	94.8	88.6	89.5	106.8	110.4	97.9	94.2	+5.2%	+6.6%
NET INCOME (GROUP SHARE)	61.2	67.7	60.9	50.8	68.4	73.8	65.4	53.4	+5.1%	+4.9%
Income tax rate	25.5%	21.9%	24.2%	36.0%	27.2%	26.8%	25.5%	36.2%	+0.2 ppt

Appendices

Quarterly results

Cumulated results*

Income statements items in €m
Cumulated figures

Q1-23

H1-23

9M-23

2023

Q1-24

H1-24

9M-24

2024

%
ex. FX*

Insurance revenue

395.3

803.1

1,187.8

1,559.1

378.6

754.3

1,130.2

1,512.9

(3.0)%

(2.2)%

Other revenue

79.8

156.6

230.0

309.2

85.0

168.5

246.4

331.9

+7.4%

REVENUE

475.1

959.7

1,417.8

1,868.2

463.7

922.7

1,376.6

1,844.8

(1.3)%

(0.6)%

UNDERWRITING INCOME (LOSS)
AFTER REINSURANCE

95.3

198.8

290.0

395.4

100.3

195.0

283.8

368.7

(6.8)%

(5.3)%

Investment income, net of management expenses, excluding finance costs

(2.6)

1.4

14.5

12.4

17.9

40.8

59.8

91.7

+638.0%

+595.7%

Insurance Finance Expenses

(2.4)

(14.7)

(30.1)

(40.0)

(11.4)

(18.1)

(25.4)

(42.5)

+6.4%

+12.9%

CURRENT OPERATING INCOME

90.4

185.5

274.4

367.9

106.8

217.7

318.2

417.9

+13.6%

+12.8%

Other operating income / expenses

(0.3)

(0.7)

(0.9)

(5.0)

(0.1)

(0.5)

(3.1)

(8.6)

+74.5%

+74.2%

OPERATING INCOME

90.0

184.8

273.4

362.9

106.8

217.2

315.1

409.2

+12.8%

+12.0%

NET INCOME (GROUP SHARE)

61.2

128.8

189.7

240.5

68.4

142.3

207.7

261.1

+8.6%

+6.3%

Income tax rate

25.5%

23.7%

23.8%

26.8%

27.2%

27.0%

26.5%

28.7%

+1.9 ppt

* Also excludes scope impact

CONTACTS

ANALYSTS / INVESTORS
Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

MEDIA RELATIONS
Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

FINANCIAL CALENDAR 2025
(subject to change)

Q1-2025 results: 5 May 2025 (after market close)
Annual General Shareholders’ Meeting: 14 May 2025
H1-2025 results: 31 July 2025 (after market close)
9M-2025 results: 3 November 2025 (after market close)

FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
You can check the authenticity on the website www.wiztrust.com.

COFACE: FOR TRADE
As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

www.coface.com

COFACE SA is listed in Compartment A of Euronext Paris
ISIN: FR0010667147 / Ticker: COFA

DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2023 Universal Registration Document filed with AMF on 5 April 2024 under the number D.24-0242 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

¹RoATE = Return on average tangible equity
²This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
³The distribution proposal will be submitted to the Shareholders’ Meeting to be held on 14 May 2025.
4 Also excludes scope impact
5 Book yield calculated on the average of the investment portfolio excluding non-consolidated subsidiaries.
6 This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
7 The distribution proposal will be submitted to the Shareholders’ Meeting to be held on 14 May 2025.

Attachment

2025 02 20 PR results FY-2024 COFACE

The MIL Network –

February 21, 2025

MIL-OSI: Coface appoints Gonzague Noël as Group Chief Operating Officer

Source: GlobeNewswire (MIL-OSI)

Coface appoints Gonzague Noël as Group Chief Operating Officer

Paris, 20 February 2024 – 17.35

Coface announces the appointment of Gonzague Noël as Group Chief Operating Officer. This change is effective as of 3 February 2025. Based in Paris, Gonzague reports to Xavier Durand, Chief Executive Officer of Coface. He replaces Declan Daly, who is pursuing his career outside the Group.

Previously, Gonzague was Head of Global Business Administration & Strategic Initiatives at HSBC CIB, where he was responsible for optimizing resources and improving efficiency.

He began his career at GE Healthcare in 2001 before holding various management positions within GE Corporate and GE Capital, overseeing strategic projects, M&A operations and operational transformations in Europe, Asia and America.

With more than 20 years of international experience, Gonzague brings to Coface solid strategic and operational expertise in the management of large-scale transformation projects.
Gonzague holds a Master of science (MSc) from Emlyon Business School.

CONTACTS

ANALYSTS / INVESTORS
Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

MEDIA RELATIONS
Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

FINANCIAL CALENDAR 2025
(subject to change)

FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
You can check the authenticity on the website www.wiztrust.com.

COFACE: FOR TRADE
With over 75 years of experience and the most extensive international network, Coface is a leader in Trade Credit Insurance & risk management, and a recognized provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

www.coface.com

COFACE SA is listed in Compartment A of Euronext Paris
ISIN: FR0010667147 / Ticker: COFA

Attachment

2025 02 20 PR Appointment of Gonzague Noel

The MIL Network –

February 21, 2025

MIL-OSI: COFACE SA: Yves Charbonneau joins the Board of Directors

Source: GlobeNewswire (MIL-OSI)

COFACE SA: Yves Charbonneau joins the Board of Directors

Paris, 20 February 2025 – 17.35

At its meeting on February 20, 2025, the Board of Directors of COFACE SA co-opted Yves Charbonneau, Senior Vice-President at Arch Insurance Company Ltd (Canada), as a non-independent director at the Board of Directors of COFACE SA.

He replaces Nicolas Papadopoulo, who is stepping down from the Board of directors to concentrate on his current professional responsibilities at Arch.

The composition of Coface’s Board of Directors remains otherwise unchanged. It counts 10 members, 6 women and 4 men, the majority (6) of whom are independent directors.

————————

Biography

Yves Charbonneau was appointed Senior Vice-President at Arch Insurance Company Ltd (Canada) in January 2024. He was previously a Senior Advisor within the same group in the United States.

He joined Arch in February 2006 and spent almost 12 years as Chief Actuary and Chief Risk Officer.

Yves Charbonneau holds a bachelor’s degree in mathematics (statistics) from the Montreal University. He is also a FCIA (Fellowship from the Canadian Institute of Actuaries) & FCAS (Fellowship from the Casualty Actuarial Society) fellow.

CONTACTS

ANALYSTS / INVESTORS
Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

MEDIA RELATIONS
Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

FINANCIAL CALENDAR 2025
(subject to change)

FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
You can check the authenticity on the website www.wiztrust.com.

www.coface.com

COFACE SA is listed in Compartment A of Euronext Paris
ISIN: FR0010667147 / Ticker: COFA

Attachment

2025 02 20 PR Co-optation of a new director

The MIL Network –

February 21, 2025

MIL-OSI Economics: ADB and World Bank Partner on Full Mutual Reliance Framework to Enhance Development Effectiveness

Source: Asia Development Bank

MANILA, PHILIPPINES (20 February 2025) — Asian Development Bank (ADB) President Masatsugu Asakawa and World Bank President Ajay Banga signed a groundbreaking Full Mutual Reliance Framework (FMRF) agreement today to deepen collaboration on cofinanced sovereign projects. This innovative model aims to streamline project preparation, reduce duplication, and deliver faster and more effective support to member countries facing urgent development challenges.

Approved by the Boards of both organizations on 28 January, the FMRF designates one institution as the Lead Lender—responsible for project preparation, appraisal, and supervision—so borrowers engage with a single operational policy framework. This approach simplifies processes and reduces transaction costs while maintaining rigorous policy standards.

“The Full Mutual Reliance Framework is a significant step in our collaboration with the World Bank, and will deliver lasting benefits to communities and economies across Asia and the Pacific,” said Mr. Asakawa. “By leveraging our respective strengths, we can enhance efficiency, scale impact, and provide a strong platform for sustainable and inclusive growth.”

“This partnership between the World Bank Group and the Asian Development Bank is a testament to the deep trust and abiding confidence between our institutions,” said Mr. Banga. “It reflects a broader shift in development finance—where collaboration, not competition, delivers greater impact. By combining our strengths, we are making it faster, easier, and more cost-effective for countries to access the support they need. More than just an agreement, this is a model for how development banks can work together to drive better outcomes for the people we serve.”

The FMRF aligns with the G20 Leaders’ call for multilateral development banks (MDBs) to work more cohesively as a system to maximize impact and address escalating development challenges. Borrowers will benefit from reduced project processing times and simplified engagement with the Lead Lender. Both institutions anticipate gains in operational efficiency and policy alignment.

The framework will initially apply to a select number of sovereign projects during a 4-year pilot phase, starting in 2025, to refine operational approaches and assess outcomes. Building on earlier cofinancing efforts, such as the Procurement Framework Agreement of 2018, the FMRF incorporates lessons learned from extensive consultations with civil society organizations and other stakeholders.

The FMRF is expected to serve as a model for deeper collaboration among MDBs and help address urgent development needs while fostering knowledge sharing and innovation.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

MIL OSI Economics –

February 21, 2025
MIL-OSI USA: America Is Back — and President Trump Is Just Getting Started

US Senate News:

Source: The White House
President Donald J. Trump took office just one month ago, but has already accomplished more than most presidents do in their entire term as he makes good on his promise to usher in the New Golden Age of America.
Here is a non-comprehensive list of President Trump’s wins after just one month:
SECURING OUR HOMELAND:
President Trump declared a national emergency at the border and deployed the military, including the 10th Mountain Division, to secure our nation.
Illegal border crossings have hit lows not seen in decades as U.S. Border Patrol is re-empowered to once again enforce the law.
ABC News: “From Jan. 21 through Jan. 31, the number of U.S. Border Patrol apprehensions along the southwest border dropped 85% from the same period in 2024, according to data obtained by ABC News. In the 11 days after Jan. 20, migrants apprehended at ports of entry declined by 93%.”

Illegal aliens have started turning around in droves amid the crackdown.
The Department of Homeland Security announced that arrests of criminal illegal immigrants have doubled under President Trump.
President Trump signed the Laken Riley Act into law, which requires illegal immigrants arrested or charged with theft or violence to be detained — honoring the legacy of Laken Riley, a Georgia college student brutally murdered by an illegal alien released into the country.
President Trump ended “catch-and-release,” reversing the dangerous Biden-era policy that released dangerous illegal aliens back into our communities.
President Trump shut down the “CBP One” app, which “paroled” more than one million illegal immigrants into the country.
A migrant shelter in San Diego announced it will shut down after it has received no new arrivals since President Trump took office.

President Trump terminated all taxpayer-funded public benefits for illegal aliens.
President Trump ramped up deportation flights of criminal illegal aliens.
After President Trump announced “urgent and decisive retaliatory measures” against Colombia over its refusal to accept deportation flights from the U.S., the country’s president quickly backtracked — even offering the use of his personal plane for the deportations.
El Salvadorian President Nayib Bukele offered to accept deportees of any nationality, including violent American criminals currently imprisoned in the U.S.

President Trump began transferring criminal illegal aliens to Guantanamo Bay ahead of their repatriation back to their own countries.
President Trump re-established the successful “Remain in Mexico” policy.
President Trump restarted construction of the border wall.
The Trump Administration officially declared Tren de Aragua, MS-13, the Sinaloa Cartel, the Jalisco New Generation Cartel, the United Cartels, the Gulf Cartel, the Northeast Cartel, and the Michoacán Family as Foreign Terrorist Organizations.
New York City Mayor Eric Adams (D) agreed to allow federal immigration officials to operate on Rikers Island and deport illegal alien criminals following his meeting with Border Czar Tom Homan.
Mexico announced a deployment of 10,000 troops to the border to combat illegal immigration and fentanyl trafficking, while Canada announced a flurry of measures to combat fentanyl manufacturing and trafficking following President Trump’s imposition of tariffs on the two countries.
President Trump implemented an additional 10% tariff on imports from China in order to stem the flow of illegal aliens and fentanyl.
President Trump ordered an end to birthright citizenship.
President Trump suspended the U.S. Refugee Admissions Program.
The Department of Justice filed suit against the State of New York and some of its elected officials over their willful failure to follow federal immigration law and announced that it will take action against so-called “sanctuary cities” for their obstruction of U.S. law.
The Department of Homeland Security “clawed back” tens of millions of dollars in funds paid by rogue FEMA officials to house illegal aliens in luxury New York City hotels.
President Trump reinstated the death penalty for federal capital crimes.
PROTECTING AMERICAN WORKERS AND FOSTERING ECONOMIC GROWTH:
President Trump restored a 25% tariff on steel imports and elevated the tariff to 25% on aluminum imports to protect these critical American industries from unfair foreign competition — a move praised by the Steel Manufacturers Association, the Aluminum Association, and businesses across the country.
Robert Simon, CEO of JSW Steel USA, praised President Trump’s steel and aluminum tariffs, celebrating them “as a project that will flood the U.S. with jobs as trading partners move their industries to U.S. soil to avoid tariffs.”

Makoto Uchida, the CEO of global automaker Nissan, said President Trump’s tariffs could push the car manufacturer to move its production from Mexico to the U.S.
President Trump unveiled a plan for fair and reciprocal trade, making clear to the world that the United States will no longer tolerate being ripped off.
President Trump secured hundreds of billions of dollars in new investments.
President Trump announced the largest artificial intelligence infrastructure project in history, securing $500 billion in planned private sector investment — with major CEOs agreeing it would not have been possible without President Trump’s leadership.
Saudi Arabia declared its intention to invest $600 billion in the United States over the next four years.
President Trump secured a $20 billion investment by DAMAC Properties to build new U.S.-based data centers.
Taiwan pledged to boost its investment in the United States.
Electronics giants Samsung and LG “are considering moving their plants in Mexico to the U.S.” now that President Trump is back in office.

In February, forecasters from the Federal Reserve Bank of Philadelphia revised their economic growth projections for the first quarter of 2025 up from 1.9% to 2.5%, and their unemployment rate projections for the quarter down from 4.2% to 4.1%.
After a meeting with President Trump, Stellantis announced it will reopen its assembly plant in Belvidere, Illinois — putting 1,500 employees back to work — and build its next-generation Dodge Durango in Detroit, Michigan. The company also announced new investments in their Toledo, Ohio, and Kokomo, Indiana, facilities.
President Trump laid out a visionary plan to establish a Sovereign Wealth Fund to maximize the stewardship of the $5+ trillion in assets held by the United States.
Following President Trump’s victory, the S&P 500 set a new record as the stock market surged to record highs — while major Wall Street firms like JP Morgan Chase posted their highest ever annual profits.
LOWERING THE COST OF LIVING:
President Trump directed the heads of all executive departments and agencies to “deliver emergency price relief … to the American people and increase the prosperity of the American worker.”
President Trump established the National Energy Dominance Council to maximize use of the U.S.’ extensive energy resources, thereby enabling lower energy prices.
Crude oil prices have fallen over 5% since President Trump took office.
The Department of Energy postponed burdensome Biden-era efficiency standard rules for the following appliances, saving American consumers large sums:
Central air conditioners: Biden rules were slated to make air conditioners $1,100 more expensive, according to Alliance for Consumers.
Gas water heaters: Biden rules were slated to make water heaters $2,800 more expensive.
Clothes washers and dryers: Biden rules were slated to make washers $200 more expensive.
Light bulbs: Biden rules were slated to make light bulbs $140 more expensive.
Walk-in coolers and freezers, commercial refrigeration equipment, and air compressors.

The total cost of federal regulations in 2023 was a record-breaking $2.1 trillion, or $15,788 per U.S. household, according to the Competitive Enterprise Institute. By requiring agencies to identify at least ten existing rules, regulations, or guidance documents to be repealed for every one rule they promulgate, President Trump has put the U.S. on track to severely reduce regulatory costs for everyday Americans.
The National Associations of Manufacturers found the cost of federal regulations was even greater — at $3.079 trillion in 2022.

Secretary Sean Duffy’s very first action at the Department of Transportation was to initiate rulemaking resetting Corporate Average Fuel Economy (CAFE) standards — effectively eliminating the Biden-era electric vehicle mandate.
NBER economist Mark R. Jacobsen “estimates that a one-mpg increase in CAFE standards costs consumers of all income levels approximately 0.5% of their income in the first year of the increase. By the 10th year following the increase, however, this cost becomes regressive, as the increase drives up the price of used cars. A one-mpg increase in CAFE standards costs consumers earning less than $25,000 per year 1.12% of their income, but only costs consumers earning more than $75,000 per year 0.41% of their income.”

RE-ESTABLISHING AMERICAN STRENGTH:
President Trump secured the release of six American hostages in Venezuela, two Americans in Afghanistan, an American-Israeli citizen in Hamas captivity, a Pennsylvania teacher in Russian captivity, and an American citizen in Belarus — bringing the total number of American hostages released under President Trump to 11.
President Trump spoke with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy in pursuit of finally securing peace as negotiations get underway.
President Trump restored maximum pressure on Iran, “sanctioning an international network for facilitating the shipment of millions of barrels of Iranian crude oil worth hundreds of millions of dollars to the People’s Republic of China.”
President Trump redesignated the Iran-backed Houthis as a Foreign Terrorist Organization.
President Trump hosted Israeli Prime Minister Benjamin Netanyahu for a visit where he proposed a bold vision for securing lasting peace in Gaza.
Former U.S. Ambassador to Israel David Friedman described the proposal as “brilliant, historic and the only idea I have heard in 50 years that has a chance of bringing security, peace and prosperity to this troubled region.”

President Trump hosted Japanese Prime Minister Shigeru Ishiba, who announced his intention to “elevate Japan’s investment in the United States to an unprecedented amount of $1 trillion,” import “historic” quantities of LNG from Alaska, and open new auto plants in the U.S.
President Trump hosted Jordan’s King Abdullah II, who announced that the Kingdom will accept 2,000 sick children from Gaza “as quickly as possible.”
President Trump hosted Indian Prime Minister Narendra Modi for a visit where they announced new deals between the two countries on immigration, trade, energy, and artificial intelligence.
President Trump banned funding to UNRWA — a United Nations agency that employed hundreds of Hamas and jihad operatives.
President Trump imposed sanctions on the International Criminal Court, which has illegitimately asserted jurisdiction over internal U.S. matters and baselessly targeted Israeli Prime Minister Benjamin Netanyahu.
President Trump reinstated the Mexico City Policy to ensure no taxpayer dollars support foreign organizations that perform, or actively promote, abortion in other nations.
The Department of State ordered embassies worldwide to only fly the American flag — not activist flags.
President Trump declared all foreign policy must be conducted under the President’s direction, ensuring career diplomats reflect the foreign policy of the United States at all times.
The Department of State declared that U.S. foreign policy will be America First going forward.
Following a visit from Secretary of State Marco Rubio, Panamanian President José Raúl Mulino agreed to withdraw from China’s Belt and Road Initiative, a debt-trap diplomacy scheme the Chinese Communist Party uses to gain influence over developing nations.
The U.S. rejoined the Geneva Consensus Declaration, which promotes and strengthens opportunities for women and girls around the world, and protects the family as the fundamental unit of society.
President Trump cracked down on anti-Semitism by canceling visas for foreign students who are Hamas sympathizers.
President Trump ordered the immediate dismissal of the Board of Visitors for the Army, Air Force, Navy, and Coast Guard following years of woke ideologies infiltrating U.S. service academies.
The U.S. Army barred transgender people from enlisting and stopped using taxpayer funds for sex change surgeries.
President Trump reinstated, with backpay, U.S. service members who were discharged under the military’s nonsensical COVID-19 vaccine mandate.
Secretary of Defense Pete Hegseth restored Fort Liberty, North Carolina, to “Fort Bragg,” in honor of a World War II hero.
President Trump withdrew the U.S. from the World Health Organization.
President Trump paused enforcement of the overregulation of American businesses abroad, which negatively impacted national security.
President Trump proclaimed “Gulf of America Day” after the Department of the Interior officially established it on its mapping databases.
President Trump initiated a process to build a next-generation missile defense shield over the United States.
UNLEASHING AMERICAN ENERGY:
President Trump declared a National Energy Emergency to unlock America’s full energy potential and bring down costs for American families.
President Trump rescinded every one of the Biden Administration’s job-killing, pro-China, anti-American energy regulations.
President Trump empowered Americans with choice in vehicles, showerheads, toilets, washing machines, light bulbs, and dishwashers, and killed Biden-era regulations that restricted water flow and mandated inadequate light bulb standards.
President Trump terminated the job-killing Green New Scam.
President Trump withdrew from the disastrous Paris Climate Agreement, which unfairly ripped off our country.
President Trump paused federal permitting for massive wind farms, which degrade our natural landscapes and fail to serve American consumers.
President Trump reversed bureaucratic regulations that impeded Alaska’s ability to develop its vast natural resources.
President Trump re-opened 625 million acres for offshore drilling, which Biden banned in his waning days, in order to “drill, baby, drill.”
President Trump scrapped an Obama-era rule on greenhouse gases.
President Trump ended the Liquefied Natural Gas pause and approved the first LNG project since the Biden Administration banned them last year.
BRINGING BACK COMMON SENSE:
Health systems across the nation stopped or downsized their sex change programs for minors following President Trump’s “Protecting Children from Chemical and Surgical Mutilation” executive order.
In Illinois, Chicago’s Lurie Children’s Hospital paused sex-change surgeries for patients under 19 as it “work[s] to understand the rapidly evolving environment.”
In Colorado, Denver Health announced it would stop performing sex change surgeries on minor children, while UCHealth said it was ending so-called “gender-affirming care” for all minors.
In Washington, D.C., Children’s National Hospital “paused” prescribing puberty blockers and hormone therapies for minors, while Northwest Washington Hospital did the same.
In Virginia, VCU Health and Children’s Hospital of Richmond “suspended” providing transgender-related medication and surgeries for minors, while UVA Health also “suspended” transgender-related services for minors.

President Trump ended the unfair, demeaning practice of forcing women to compete against men in sports — which resulted in the NCAA changing its rules.
The Department of Education launched investigations into the California Interscholastic Federation and the Minnesota State High School League over their failures to comply.

President Trump made it the official policy of the U.S. government that there are only two sexes.
President Trump banned COVID-19 vaccine mandates at schools that receive federal funding.
President Trump rolled back the Biden-era push to mandate paper straws.
President Trump instructed the Secretary of the Treasury to stop production of the penny, which cost 3.69 cents each to make.
President Trump directed full enforcement of the Hyde Amendment, which bars taxpayer dollars from being used to fund or promote elective abortion.
The Department of Transportation terminated the approval for New York City’s burdensome “congestion pricing” scheme.
RESTORING ACCOUNTABILITY AND TRANSPARENCY IN GOVERNMENT
President Trump established the Department of Government Efficiency (DOGE) to maximize government productivity and ensure the best use of taxpayer funds — which has already achieved billions of dollars in savings for taxpayers.
President Trump commenced his plan to downsize the federal bureaucracy and eliminate waste, bloat, and insularity.
President Trump ordered federal workers to return to the office five days a week.
President Trump ordered federal agencies hire no more than one employee for every four employees who leave.
President Trump ended the wasteful Federal Executive Institute, which had become a training ground for bureaucrats.
President Trump ordered the termination of all federal Fake News media contracts.

President Trump ordered the Consumer Financial Protection Bureau — the brainchild of Elizabeth Warren, which funneled cash to left-wing advocacy groups — to halt operations.
President Trump ordered an end to anti-Christian bias in the Federal Government.
President Trump ordered an examination of all regulations to assess any infringements on Americans’ Second Amendment rights.
The Environmental Protection Agency canceled tens of millions of dollars in contracts to left-wing advocacy groups, announced an investigation into a scheme by Biden EPA staffers to shield billions of dollars from oversight and accountability, and put 168 “environmental justice” employees on leave.
President Trump stopped the waste, fraud, and abuse within USAID — ensuring taxpayers are no longer on the hook for funding the pet projects of entrenched bureaucrats, such as sex changes in Guatemala.
President Trump ordered an end to the weaponization of the Federal Government against American citizens.
The Department of Justice immediately began rooting out politically motivated lawfare that occurred in the Biden Administration.

President Trump reversed the massive over-expansion of the IRS that took place during the Biden Administration.
President Trump eliminated discriminatory DEI offices, employees, and practices across the bureaucracy alongside a return to merit-based hiring — including at the Federal Aviation Administration, where the Biden Administration specifically recruited individuals with intellectual disabilities and psychiatric issues.
As a result, taxpayer-funded PBS closed its DEI office, Disney dropped two of its DEI programs, Goldman Sachs ended its DEI policy, and Institutional Shareholder Services announced it would no longer consider diversity of company boards when making its voting recommendations.
The Federal Communications Commission opened an investigation into discriminatory DEI policies at Comcast, an entity it regulates.

President Trump ordered an end to all censorship of Americans by the federal government.
President Trump ordered a review of funding for all non-governmental organizations, so taxpayers are no longer funding those that undermine America’s interests.
The Department of State issued a “pause” on existing foreign aid grants to ensure accountability and efficiency.

President Trump lifted last-minute collective bargaining agreements issued by the Biden Administration, which sought to impede reform.
President Trump overrode bureaucratic red tape that limited water availability in California following the failure of the state’s water system during the devastating wildfires.
President Trump terminated the Biden-era electric vehicle mandate.
President Trump suspended the Biden-era EV charging program, which had resulted in just eight charging stations despite $7.5 billion earmarked for the program.

President Trump shut down the wasteful Biden-era “Climate Corps” program.
The Federal Communications Commission took action against a Soros-backed radio station that leaked sensitive information about ICE operations.
President Trump ordered the declassification of documents related to the assassinations of President John F. Kennedy, Jr., Robert F. Kennedy, and Rev. Dr. Martin Luther King, Jr.
President Trump opened the White House Press Briefing Room to non-legacy media outlets as the White House sets a new standard for transparency in the digital age.
President Trump reinstated press privileges for roughly 440 journalists who the Biden Administration sought to silence.
President Trump fired members of The Kennedy Center’s Board of Trustees amid their obsession with perpetuating radical, left-wing ideology at taxpayer expense.
President Trump revoked the security clearances of the 51 “spies who lied.”
EMPOWERING THE AMERICAN PEOPLE
President Trump established the Make America Healthy Again Commission, which redirects the national focus to promoting health rather than simply managing disease.
President Trump took executive action to expand access to in vitro fertilization (IVF).
President Trump established the White House Faith Office to protect Americans’ religious liberty.
President Trump ordered an end to the radical indoctrination of children in K-12 schools that receive federal funding.
President Trump took executive action to support parents in choosing the best education for their children.
President Trump established the Presidential Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance.
President Trump granted full and unconditional pardons to 23 pro-life Americans who were unjustly persecuted by the Biden Administration.
President Trump pardoned two Washington, D.C., police officers who were imprisoned simply for doing their jobs of apprehending criminals.
President Trump has had his cabinet confirmed by the Senate at a far faster pace than his predecessors, with a majority of his cabinet earning confirmation in his first month.

MIL OSI USA News –

February 21, 2025
MIL-OSI USA: SBA Relief Still Available to New Mexico Small Businesses and Private Nonprofits Affected by Summer Fires

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 New Mexico of the March 20, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the South Fork Fire, Salt Fire and flooding that occurred June 17‑Aug. 20, 2024.

The disaster declaration covers the counties of Chaves, De Baca, Doña Ana, Eddy, Guadalupe, Lincoln, Los Alamos, McKinley, Mora, Otero, Rio Arriba, San Juan, Sandoval, Santa Fe, Sierra, Socorro, Taos, Torrance and the tribal region of Mescalero Apache Tribe in New Mexico, as well as Apache County in Arizona, Archuleta, Conejos, La Plata and Montezuma counties in Colorado, Culberson, El Paso and Hudspeth counties in Texas, and San Juan County in Utah.

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.

For more information and 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 20.

###

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 21, 2025
MIL-OSI USA: Attorney General James Sues Nation’s Largest Vape Distributors for Fueling the Youth Vaping Epidemic

Source: US State of New York

NEW YORK – New York Attorney General Letitia James today announced a lawsuit against 13 major e-cigarette, or “vape,” manufacturers, distributors, and retailers for their role in fueling the youth vaping epidemic. These companies are responsible for illegally distributing, marketing, and selling flavored disposable vapes – including popular brands such as Puff Bar, Elf Bar, Geek Bar, Breeze, MYLE, and more – which have become extraordinarily popular among minors. An Office of the Attorney General (OAG) investigation found that these companies market highly addictive, candy- and fruit-flavored nicotine products to underage consumers, mislead customers about the safety and legality of their products, illegally ship products to New York, and violate health regulations designed to curb youth vaping.

With this action, Attorney General James is holding the nation’s leading vape distributors accountable for their role in this public health crisis. The landmark lawsuit seeks hundreds of millions of dollars, including financial penalties for wide-ranging violations of local, state, and federal laws; damages and restitution for the public health impact of the companies’ illegal actions; the recovery of all revenue made from unlawful activity; and the establishment of an abatement fund to address the youth vaping crisis in New York.

“The vaping industry is taking a page out of Big Tobacco’s playbook: they’re making nicotine seem cool, getting kids hooked, and creating a massive public health crisis in the process,” said Attorney General James. “For too long, these companies have disregarded our laws in order to profit off of our young people, but we will not risk the health and safety of our kids. Today, we are taking critical steps toward holding these companies accountable for the harm they have caused New Yorkers.”

The vaping industry has adopted deceptive, inescapable marketing strategies that are reminiscent of the tactics that made the tobacco industry infamous. Vaping companies directly target youth with bright, colorful packaging, candy and fruit flavors, social media and influencer campaigns, and unproven claims that their products are “safe” alternatives to cigarettes. The vape products the defendants often help develop, design, and even taste-test are intended to attract young people, with eye-catching, cartoonish packaging and flavors like “Blue Razz Slushy,” “Sour Watermelon Patch,” “Unicorn Cake,” “Fruity Bears Freeze,” “Cotton Candy,” “Rainbow Rapper,” “Sour Fruity Worms,” “Fruity Pebbles,” and “Strawberry Cereal Donut Milk,” to entice kids.

Vape companies use bright, colorful packaging and candy and fruit flavors to entice children.

The OAG investigation found that these companies often rely on social media in their marketing and ensure their vapes are abundantly available within walking distance of schools in an effort to reach young consumers. The companies also make use of celebrity or influencer endorsements, sponsor brand activations and social media photo opportunities at popular festivals and events, and promote dangerous vaping trends and challenges to drive engagement online. One company, Puff Bar, ran a social media advertisement during the early days of the pandemic lockdown that billed their vapes as “the perfect escape from back-to-back zoom calls [and] parental texts.”

Vaping advertisements feature bright colors and candy, as well as illegal discounts and relatable language to attract kids.

The investigation also revealed that vape companies have long been aware that their products pose health risks to users – and are particularly harmful to youth – but have continued to target young people with deceptive and misleading messages about the products’ safety. In particular, the companies’ advertisements often position vaping products as a safer, healthier alternative to cigarettes. One of the defendants has even advanced conspiracy theories in an attempt to brush away concerns over the safety of vaping, repeatedly pushing the idea that state governments were campaigning to crush vaping in an attempt to boost tobacco sales for financial gain. In addition, despite knowing that New York banned the sale of flavored vapor products in 2020, the companies have continued to sell these products while intentionally misleading customers about the legality of the sales.

None of the companies named in the lawsuit have received authorization from the U.S. Food and Drug Administration (FDA) for their fruit – or – candy flavored vapes, making their sale illegal under federal law. Attorney General James’ lawsuit alleges the companies have knowingly and intentionally ignored FDA warning letters and regulations, as well as the federal Prevent All Cigarette Trafficking (PACT) Act, which prohibits online sales of vaping products to consumers and unlicensed retailers. In addition to violating federal bans on shipping these products, the companies fail to register with the appropriate authorities, verify recipients’ ages, or follow any other shipping restrictions.

Attorney General James also alleges that these vape companies have blatantly disregarded New York state public health laws, including several policies enacted in recent years to curb youth vaping. In 2020, New York banned the sale of flavored vapor products, restricted the shipment and transport of nicotine products, and raised the legal purchase age for all vapes to 21. The state also banned coupons and discounts on vapes, and began requiring certain companies to disclose dangerous ingredients in their vapes. The vape companies named in this lawsuit have repeatedly and knowingly violated these laws.

The OAG investigation uncovered widespread evidence of this illegal conduct, including documents showing illegal shipments of flavored vapes to New York residential addresses, communications demonstrating companies’ knowledge of health and legal risks, and company advertisements and social media campaigns that misleadingly promoted vapes as safe and fun.

The rise in youth vaping has reversed years of progress in reducing tobacco and nicotine use among adolescents. According to the New York State Department of Health (DOH), e-cigarette use among high school students has skyrocketed over the past decade, with flavored vapes being the most commonly used tobacco and nicotine product among youth. Attorney General James’ lawsuit highlights the severe health risks associated with vaping, including nicotine addiction, respiratory issues, and long-term cognitive impairments. According to the American Lung Association, some vape ingredients have been found to cause irreversible lung damage, while nicotine exposure during adolescence can permanently alter brain development. Kids who use nicotine products are also at increased risk for future addiction to other drugs.

The rapid rise popularity of vaping among teenagers reversed years of progress in reducing youth nicotine use.

For their illegal conduct and role in fueling the youth vaping crisis, Attorney General James is seeking broad relief from the companies, including a permanent ban on selling flavored vapes in New York, significant financial penalties and restitution for harm caused to New Yorkers, public corrective statements to inform consumers of the dangers of vaping, and the creation of an abatement fund to address and mitigate the effects of the public health crisis these companies helped create. In addition, OAG is pursuing total disgorgement of all revenues earned as a result of illegal activity. In total, Attorney General James is seeking hundreds of millions of dollars in financial compensation for the havoc these companies’ products and marketing have wreaked on New York’s kids and their health and well-being.

The manufacturers, distributors, and retailers named in the lawsuit are Puff Bar, MYLE Vape, Pod Juice, Mi-One Brands, Happy Distro, Demand Vape, EVO Brands, PVG2, Magellan Technology, Midwest Goods, Safa Goods, EVO Brands, and Price Point Distributors, as well as Price Point principals Weis Khwaja, Hamza Jalili, and Mohammad Jalili.

“These predatory companies purposefully preyed on our classmates and peers, irreparably damaging our lives,” said Erin Kennedy, founder of anti-vaping advocacy group at East Hampton High School and a frontline witness to the second youth nicotine epidemic. “Therapeutic tools are the only useful actions to try to help the second wave of youth nicotine addiction. Money received from lawsuits with vaping companies must be funneled to therapeutic treatments to try and undo the harm, even death, created by these exploitative companies.”

“I thank Attorney General James for her significant financial commitment to Suffolk County to hopefully invest in community-based therapeutic treatments for my friends and classmates who have been poisoned and now struggle with nicotine addiction,” said Samantha Price, founder of anti-vaping advocacy group at East Hampton High School and a frontline witness to the second youth nicotine epidemic.

“Vaping continues to be a public health issue for teens and young adults and has been exacerbated by irresponsible marketing strategies,” said Dr. Susan Gasparino, Medical Director of the Clinical and Community-Based Programs at the Center for Community Health & Prevention at the University of Rochester Medical Center. “I applaud and sincerely thank Attorney General Letitia James for, once again, taking action to hold these companies accountable. Her efforts, paired with the counseling and educational services like those we provide at our Center’s clinic, are what it takes to see change and advocate for the health of our young people.”

“Parents Against Vaping is enormously grateful to New York’s Attorney General Letitia James and her team for their ongoing commitment to and leadership in the fight to protect kids from a predatory industry that seeks to addict an entire generation to nicotine,” said Meredith Berkman, Co-Founder of Parents Against Vaping. “By going after those who deliberately market, promote, and peddle illegal flavored vapes to minors, causing serious negative health consequences that can impact young people for years to come, the Attorney General makes clear that she will not allow these bad actors to continue making enormous profits while harming New York’s children.”

“The vaping industry has taken advantage of youth as a vulnerable and profitable market through flavoring, advertising, and sales techniques, putting their health at risk,” said Melissa Safford, Program Director of Uplift Irondequoit. “Our coalition and community work hard to promote prevention amid a market that is flooded with false claims surrounding the safety and benefits of vaping. It is wonderful to see that Attorney General James is continuing to be a champion for youth’s health, protecting them from the vaping industry.”

“The Long Island Council on Alcoholism and Drug Dependence (LICADD) offers our professional support to the continued leadership by our New York State Attorney General Letitia James in her unwavering efforts to keep New Yorkers safe from unscrupulous marketing strategies flagrantly targeting our youth and exposing them to dangerous and addictive nicotine products,” said Steve Chassman, Executive Director of LICADD. “Nicotine is a potent mind- and mood-altering drug that potentially develops into a physical and psychological dependence. The implications of nicotine intoxication and dependence for young people on their mental, physical, academic, and social well-being are far reaching when dangerous levels of nicotine are consumed at a vulnerable age. These dangerous products are being callously marketed as ‘candy-like’ materials, distorting the harmful effects the drug has on human development. LICADD commends Attorney General Letitia James for fighting for the health and wellness of our youth who are potentially falling prey to monetary greed and a total disregard of public health.”

This lawsuit builds on Attorney General James’ efforts to hold the vaping industry accountable. Last month, Attorney General James filed a lawsuit against a retailer in upstate New York for knowingly selling vapor products to underage customers. In April 2023, Attorney General James secured $462 million from Juul Manufacturers for its role in the youth vaping epidemic. In August 2021, Attorney General James co-led a bipartisan coalition calling on the FDA to regulate e-cigarettes and oral nicotine products. In December 2020, Attorney General James ordered dozens of retailers across the state to immediately stop selling e-cigarette products to underage customers and to stop selling flavored vaping products in violation of New York state law. Also in December 2020, Attorney General James held a roundtable with elected officials, students, and parents on the subject of vaping among young people in New York state. In July 2020, Attorney General James cracked down on three online retailers that were illegally selling e-cigarettes online to consumers in New York, including minors. In April 2019, Attorney General James led a coalition of seven states in urging the Food and Drug Administration (FDA) to take stronger action in addressing the scourge of e-cigarette use among youth by taking proposed measures such as strengthening guidance, beginning enforcement earlier, and banning online sales of e-cigarettes.  

This matter is being handled by Special Counsel Monica Hanna with assistance from Health Care Deputy Bureau Chief Leslieann Cachola, Special Counsel for Complex Litigation Collen Faherty, Assistant Attorneys General Alex Finkelstein, Wil Handley, and Joy Mele, Legal Assistants Ketty Dautruche and Dana-Ann Henry, and Document Review Managers Carol Cheng and Kristin Petrella, under the supervision of Health Care Bureau Chief Darsana Srinivasan. Data analysis was provided by Data Scientist Blythe Davis under the supervision of Deputy Director Gautam Sisodia and Director Victoria Khan of the Research and Analytics Department. The Health Care Bureau is part of the Division of Social Justice which is led by Chief Deputy Attorney General Meghan Faux and overseen by First Deputy Attorney General Jennifer Levy.  

MIL OSI USA News –

February 21, 2025
MIL-OSI USA: Attorney General James Leads Multistate Coalition to Defend the Consumer Financial Protection Bureau

Source: US State of New York

NEW YORK – New York Attorney General Letitia James today co-led a coalition of 23 attorneys general to warn against efforts by the Trump administration and Elon Musk to defund and disband the Consumer Financial Protection Bureau (CFPB). The CFPB is an independent agency that oversees big banks, lenders, credit card companies, and mortgage servicers and ensures companies are following federal consumer protection laws. Since its creation, the CFPB has helped millions of New Yorkers and Americans by helping homeowners facing foreclosure stay in their homes, stopping banks from charging junk fees, and returning more than $20 billion to the pockets of consumers nationwide. Attorney General James and the coalition argue in an amicus brief filed in the U.S. District Court for the District of Maryland that dismantling the CFPB would significantly harm consumers and hamper enforcement of federal consumer protection laws.

“Eliminating the CFPB will hurt everyday people and benefit billionaires like Elon Musk and his friends,” said Attorney General James. “The CFPB has put billions of dollars back in the pockets of Americans by going after predatory lenders, deceptive companies, and slashing junk fees. The only reason to get rid of this watchdog agency is to protect bad actors. Working families need the CFPB, especially as rising prices are making it hard to make ends meet and put food on the table. My office is leading this coalition to help protect the agency that has protected all of us.”

On February 9, the Trump administration directed the CFPB to stop all its ongoing work and to not begin any new investigations. The CFPB was formed in 2011 following the Great Recession to enforce federal consumer protection laws. Since its creation, the CFPB has worked with state attorneys general to address consumer issues related to banking, student loan servicers, mortgage servicers, auto lending, and other consumer financial matters. The CFPB has also partnered with attorneys general to stop deceptive, unfair, and abusive conduct by companies. As a result of the Trump administration’s actions, the nation’s largest banks are no longer being closely watched for compliance with key consumer protections by any federal regulator.

In their brief, Attorney General James and the coalition argue that the administration’s efforts to destroy the CFPB could prevent consumers from reporting issues of fraud or deception. The coalition also writes that efforts to shut down the CFPB would significantly reduce oversight of big banks, further harming consumers. The attorneys general warn that this may lead to financial institutions loosening their regulatory compliance, as was seen in the years leading up to the financial crisis.

Attorney General James has partnered with the CFPB on several actions to protect consumers and hold companies accountable. In January 2024, Attorney General James, the CFPB, and a multistate coalition sued a web of related shell companies for running an illegal debt-relief enterprise and swindling consumers out of more than $100 million. In April 2024, Attorney General James, the CFPB, and a multistate coalition won an $811 million judgment against a bond services company, Libre by Nexus, for unfairly targeting immigrants and their families with deceptive and abusive tactics. In January 2023, Attorney General James and the CFPB sued one of the nation’s largest auto lenders, Credit Acceptance Corporation (CAC), for deceiving thousands of low-income New Yorkers into signing high-interest car loans. The CFPB and the Office of the Attorney General (OAG) also sued a cash advance company for defrauding 9/11 victims out of money intended to help cover their medical costs, lost income, and other critical needs.

Joining Attorney General James in filing today’s brief are the attorneys general of Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Rhode Island, Vermont, Washington, Wisconsin, and the District of Columbia.

MIL OSI USA News –

February 21, 2025
MIL-OSI Economics: Debt Vulnerabilities And Financing Challenges In Emerging Markets And Developing Economies—An Overview Of Key Data

Source: International Monetary Fund

Summary

Many emerging markets and developing economies face elevated debt vulnerabilities and financing needs. Following the 2020-21 surge in debt levels associated with the COVID-19 shock, and the subsequent tightening in global financial conditions, many emerging markets and developing economies (EMDEs)1 are grappling with rising debt service burdens that squeeze the space available for development spending. Pandemic-induced deficits have declined, and debt levels have stabilized and are projected to remain stable or slightly decline under staff’s baseline assumptions. However, many EMDEs are confronting high costs of financing, large external refinancing needs, and a decline in net external flows amid important investment and social spending needs. To help address these challenges, countries would benefit from actions, both at domestic and international level, to proactively expand their capacity to finance development spending. There are also important risks to the baseline that will require careful monitoring. This paper aims to help inform the international debate on these issues by providing factual data and insight on the debt vulnerabilities and financing pressures facing EMDEs.

MIL OSI Economics –

February 21, 2025
MIL-OSI: Orocidin and Syngene Partner to Accelerate Biotech Innovation

Source: GlobeNewswire (MIL-OSI)

BEVERLY HILLS, California, Feb. 20, 2025 (GLOBE NEWSWIRE) — Orocidin A/S (“Orocidin”), a subsidiary of Nordicus Partners Corporation (OTCQB: NORD) (“Nordicus” or the “Company”), a financial consulting company specializing in supporting Nordic and U.S. life sciences companies in establishing themselves in the U.S. market, announces a strategic partnership with Syngene International Limited (“Syngene”),

Syngene’s mission is to work as an extension of its client’s team. Together the teams solve the complex challenges associated with GMP peptide development programs using cutting-edge technology and scalable solutions, while maintaining the highest quality standards. Syngene’s capabilities enable efficient and scalable manufacturing with reduced lead times, ensuring the most robust and streamlined supply chain for future commercialization.

“We are very impressed with Syngene’s professionalism, commitment to scientific excellence, and ability to deliver high-quality work on time,” said Allan Wehnert, CEO & Founder of Orocidin. “This partnership secures access to highly skilled scientists and state-of-the-art facilities ensuring the development and progress of Orocidin’s QR-01.”

Alex Del Priore, Senior Vice President – Development & Manufacturing Services, Syngene International Ltd added: “We are delighted to partner with Orocidin in advancing their peptide programs. With a shared focus on speed, scale, and supply chain security, Syngene is well positioned to help biotech companies like Oricidin bring new drugs to market faster and more reliably.”

For further information, contact:
Mr. Henrik Rouf
Chief Executive Officer
hr@nordicuspartners.com
Tel +1 310 666 0750

Investor Relations
Jonathan Paterson
Harbor Access Investor Relations
Jonathan.Paterson@Harbor-Access.com
Tel +1 475 477 9401

About Orocidin
Orocidin’s mission is to develop the preferred treatment against aggressive periodontitis. Our innovative therapeutic agent, QR-01, distinguishes itself through its unique ability to provide treatment of both inflammation and bacterial infection.

About Syngene
Syngene International Ltd. is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors. Syngene’s more than 5600 scientists offer both skills and the capacity to deliver great science, robust data security, and world class manufacturing, at speed, to improve time-to-market and lower the cost of innovation. With 2.2 Mn sq. ft of specialized discovery, development, and manufacturing facilities, Syngene works with biotech companies pursuing leading-edge science as well as multinationals, including BMS, GSK, Zoetis and Merck KGaA. For more details, visit www.syngeneintl.com For the Company’s latest Environmental, Social, and Governance (ESG) report, visit https://esgreport.syngeneintl.com.

About Nordicus Partners Corporation
Nordicus Partners Corporation is the only U.S. publicly traded business accelerator and holding company for Nordic life sciences companies. Leveraging decades of combined management experience in domestic and global corporate sectors, Nordicus excels in corporate finance activities including business and market development, growth strategies, talent acquisition, partnership building, capital raising, and facilitating company acquisitions and sales. In 2024, Nordicus acquired 100% of Orocidin A/S, a Danish preclinical-stage biotech company developing next-generation therapies for periodontitis and 100% of Bio-Convert ApS, a Danish preclinical-stage biotech company dedicated to revolutionizing the treatment of oral leukoplakia. For more information about Nordicus, please visit: www.nordicuspartners.com, and follow us on LinkedIn, X, Threads and BlueSky.

Cautionary Note Regarding Forward-Looking Statements:
This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The MIL Network –

February 21, 2025
MIL-OSI: TAB Bank Fuels Growth for Farmers with $5 Million Financing Deal for Finance Company Specializing in Agriculture

Source: GlobeNewswire (MIL-OSI)

OGDEN, Utah, Feb. 20, 2025 (GLOBE NEWSWIRE) — TAB Bank closed a $5 million Lender Finance facility with a Nevada-based company specializing in factoring financing for farmers, agricultural businesses and fresh produce exporters in Mexico. This partnership enables the agriculture finance company to expand its operations and empower small- to mid-size growers globally by supporting their funding needs.

Built by growers for growers, the company provides a financial solution tailored to the next generation of agricultural businesses. With payment cycles spanning 30 to 90 days, growers face critical liquidity challenges. The platform bridges this gap by advancing up to 96% of a grower’s sales within 24 hours. This solution delivers fast, flexible and reliable funding that improves cash flow, reduces financial risks and saves time.

“Small profit margins and complex international transactions create significant hurdles for growers looking to secure their receivables. Our new client and their financial solutions alleviate those pressures, allowing growers to focus on growing their businesses,” said Jerry Clinton, Managing Director of Corporate Underwriting at TAB Bank. “TAB Bank is happy to extend that same opportunity to this innovative company—providing the capital they need to scale their business and continue their mission of supporting the agricultural community worldwide.”

TAB Bank offers tailored financial solutions to help businesses thrive in competitive markets. TAB Bank provides companies nationwide with bold financial solutions that lift and empower, from working capital facilities to term loans and equipment financing.

About TAB Bank
At TAB Bank, our mission is to unlock dreams with bold financial solutions that empower individuals and businesses nationwide. We are committed to making financial success accessible to everyone through our innovative banking products. Our dedication drives us to continuously improve, ensuring that we meet the evolving needs of our clients with excellence and agility. For over 25 years, we have remained steadfast in offering tailored, technology-enabled solutions designed to simplify and enhance the banking experience.

For more information about how we can help you achieve your financial dreams, visit www.TABBank.com.

Contact Information:
Trevor Morris
Director of Marketing
801-624-5172
trevor.morris@tabbank.com

The MIL Network –

February 21, 2025

MIL-OSI: Federal Home Loan Bank of Atlanta Announces Preliminary Fourth Quarter and Annual 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

ATLANTA, Feb. 20, 2025 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta (the Bank) today released preliminary unaudited financial highlights for the quarter and year ended December 31, 2024. All numbers reported below for 2024 are approximate until the Bank announces audited financial results in its Form 10-K, which is expected to be filed with the Securities and Exchange Commission (SEC) on or about March 7, 2025.

Fourth Quarter 2024 Operating Results

Net interest income for the fourth quarter of 2024 was $250 million, an increase of $9 million, compared to net interest income of $241 million for the same period in 2023. The increase in net interest income was primarily related to a decrease in interest rates between the comparative quarters which impacted expense from interest-bearing liabilities more than the income from interest-earning assets, partially offset by a decrease in average advance balances.
The average advance balances were $96.1 billion and $111.4 billion for the fourth quarter of 2024 and 2023, respectively.
Net income for the fourth quarter of 2024 was $176 million, an increase of $2 million, compared to net income of $174 million for the same period in 2023. The Bank had $16 million of voluntary housing contribution expense during the fourth quarter of 2024, compared to $12 million during the same period in 2023.
The net yield on interest-earnings assets for the fourth quarter of 2024 was 67 basis points, an increase of nine basis points, compared to 58 basis points for the same period in 2023. Many of the Bank’s assets and liabilities are indexed to the Secured Overnight Financing Rate (SOFR). Average daily SOFR during the fourth quarter of 2024 was 4.68 percent compared to 5.32 percent for the same period in 2023.
The Bank’s fourth quarter of 2024 performance resulted in an annualized return on average equity (ROE) of 8.36 percent as compared to 7.83 percent for the same period in 2023. The increase in ROE was primarily due a decrease in the average total capital outstanding during the fourth quarter of 2024 compared to the same period in 2023.

Annual 2024 Operating Results

Net interest income for the year ended December 31, 2024 was $966 million, an increase of $77 million, compared to net interest income of $889 million for the same period in 2023. The increase in net interest income was primarily related to an increase in interest rates during the year which impacted income from interest-earning assets more than the expense from interest-bearing liabilities, partially offset by a decrease in average advance balances.
The average advance balances were $98.8 billion and $125.4 billion for the year ended December 31, 2024 and 2023, respectively.
Net income for the year ended December 31, 2024 was $697 million, an increase of $48 million, compared to net income of $649 million for the same period in 2023. The increase in net income was primarily due to a $77 million increase in net interest income. Additionally, during 2024 the Bank had $49 million of voluntary housing contributions expense, compared to $19 million during 2023.
The net yield on interest-earnings assets for the year ended December 31, 2024 was 64 basis points, an increase of 14 basis points, compared to 50 basis points for the same period in 2023. The year-to-date average daily SOFR as of December 31, 2024 was 5.15 percent compared to 5.01 percent for the same period in 2023.
The Bank’s 2024 performance resulted in an annualized return on average equity (ROE) of 8.31 percent as compared to 7.43 percent for the same period in 2023. The increase in ROE was primarily due to the increase in net income during the year.

Financial Condition Highlights

Total assets were $147.1 billion as of December 31, 2024, a decrease of $5.3 billion from December 31, 2023.
Advances outstanding were $85.8 billion as of December 31, 2024, a decrease of $10.8 billion from December 31, 2023.
Total capital was $7.9 billion as of December 31, 2024, a decrease of $183 million from December 31, 2023. Retained earnings increased to $2.8 billion as of December 31, 2024, compared to $2.5 billion as of December 31, 2023.
As of December 31, 2024, the Bank was in compliance with all applicable regulatory capital and liquidity requirements.

Reliable Source of Liquidity

For 2024, the Bank originated a total of $311.4 billion of advances, thereby providing significant liquidity to its members to support lending and other activities in their communities. The Bank is proud to continue to execute on its mission to be a reliable source of liquidity and funding for its members, while remaining adequately capitalized.

Commitment to Affordable Housing and Community Development

The Bank is required and commits 10 percent of its income before assessments to support the affordable housing and community development needs of communities served by its members as required by law, which amounted to $72 million for the 2023 statutory Affordable Housing Program (AHP) assessment available for funding in 2024. As of December 31, 2024, the Bank has accrued $77 million to its AHP pool of funds that will be available to the Bank’s members and their communities in 2025 for funding of eligible projects.
During the year ended December 31, 2024, the Bank made an additional $49 million of voluntary housing and community investment contributions. This consisted of $15 million of additional voluntary housing contributions to the Bank’s AHP Homeownership Set-aside Program, $8 million of additional voluntary housing contributions to the Bank’s AHP General Fund, $20 million of voluntary contributions to the Bank’s Workforce Housing Plus+ Program, and $6 million of voluntary contributions to the Bank’s Heirs’ Property Family Wealth Protection Fund.
In 2025, the Bank has voluntarily committed an additional five percent of its 2024 income before assessments, equal to $41 million, to further support the affordable housing and community development needs of its communities. This will result in a total commitment by the Bank to support affordable housing and community development needs of $118 million in 2025.
Since the inception of its AHP in 1990, the Bank has awarded more than $1.2 billion in AHP funds, assisting more than 177,000 households.



Federal Home Loan Bank of Atlanta Financial Highlights (Preliminary and unaudited) (Dollars in millions)

		As of December 31,
Statements of Condition		2024			2023
	Advances	$	85,829		$	96,608
	Investments		60,084			54,207
	Mortgage loans held for portfolio, net		89			103
	Total assets		147,091			152,370
	Total consolidated obligations, net		135,851			141,572
	Total capital stock		5,148			5,597
	Retained earnings		2,785			2,524
	Accumulated other comprehensive loss		—			(5	)
	Total capital		7,933			8,116
	Capital-to-assets ratio (GAAP)		5.39	%		5.33		%
	Capital-to-assets ratio (Regulatory)		5.39	%		5.33		%

		Three Months Ended December 31,							Years Ended December 31,
Operating Results and Performance Ratios		2024			2023				2024			2023
	Net interest income	$	250		$	241			$	966		$	889
	Standby letters of credit fees		4			4				17			10
	Other income (loss)		2			(1	)			6			(5	)
	Total noninterest expense ⁽¹⁾		61			51				215			173
	Affordable Housing Program assessment		19			19				77			72
	Net income		176			174				697			649
	Return on average assets		0.46	%		0.41		%		0.45	%		0.36		%
	Return on average equity		8.36	%		7.83		%		8.31	%		7.43		%

__________
⁽¹⁾	Total noninterest expense includes voluntary housing and community investment contributions of $16 million and $12 million for the three months ended December 31, 2024 and 2023, respectively, and $49 million and $19 million for the years ended December 31, 2024 and 2023, respectively.

Additional financial information concerning the Bank’s results of operations for the most recently completed year ended December 31, 2024, will be available in the Bank’s Form 10-K that the Bank expects to file with the SEC on or about March 7, 2025 and will be available at www.fhlbatl.com and on www.sec.gov.

About Federal Home Loan Bank of Atlanta

FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank is a cooperative whose members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System (FHLBank System). Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.

For more information, visit our website at www.fhlbatl.com.

To the extent that the statements made in this announcement may be deemed as “forward-looking statements”, they are made within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank’s control, and which may cause the Bank’s actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by such forward-looking statements, and the reader is cautioned not to place undue reliance on them, since those may not be realized due to a variety of factors, including, without limitation: legislative, regulatory and accounting actions, changes, approvals or requirements; completion of the Bank’s financial closing procedures and final accounting adjustments for the most recently completed quarter; SOFR variations; future economic, liquidity and market conditions (including in the housing market and banking industry); changes in demand for advances, advance levels, consolidated obligations of the Bank and/or the FHLBank System and their market; changes in interest rates; changes in prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; volatility of market prices, rates and indices that could affect the value of financial instruments; changes in credit ratings and/or the terms of derivative transactions; changes in product offerings; political, national, climate, and world events; disruptions in information systems; membership changes; mergers and acquisitions involving members; changes to the Bank’s voluntary housing program and other adverse developments or events, including extraordinary or disruptive events, affecting the market, involving other Federal Home Loan Banks, their members or the FHLBank System in general, including acts or war and terrorism. Additional factors that might cause the Bank’s results to differ from forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.

The forward-looking statements in this release speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of these statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law. New factors may emerge, and it is not possible for us to predict the nature of each new factor, or assess its potential impact, on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements.

CONTACT: Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com
404.716.4296

The MIL Network –

February 21, 2025

MIL-OSI: Bitget’s CEO Gracy Chen Joins Consensus Hong Kong 2025

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Feb. 20, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company will be attending Consensus 2025, set to be held in Hong Kong, scheduled from February 18 to 20 at the Hong Kong Convention & Exhibition Centre. Consensus’ expansion into Hong Kong highlights Asia’s growth as a global powerhouse for Web3, with millions of crypto users, blockchain developers, and industry leaders. Serving as the most influential crypto event, Hong Kong sees itself strategically positioned as a pivotal digital assets hub, uniting East and West for pivotal conversations and plans that will define what’s next for the future of technology.

Bitget CEO, Gracy Chen, will be a distinguished speaker at the event, sharing her insights on a panel titled ‘Beyond Trading: How Crypto is Shaping the Market‘ on the Mainstage on Wednesday, 19 February, at 2:30 PM HKT. Since assuming the role of CEO in May 2024, Gracy has been instrumental in driving Bitget’s global strategy, leading to a fourfold increase in the company’s user base and establishing strategic partnerships, including collaborations with big names like Lionel Messi and LALIGA. Her leadership has propelled Bitget into the ranks of the top global exchanges.

“One trend that I observed is the integration of centralized exchange and decentralized exchange. All of the strongest exchanges have put a lot of resources into building their DEX service, not just focusing on the CEX service. In 2024, we saw great growth in our DEX, Bitget Wallet, which hit 45 million users,” said Gracy Chen, CEO at Bitget. “For trash time in the market, it is the best time to be more focused on our own product and really create value for our targeted users and community. That’s probably how we survived in the last bear market.”

On February 18th, Bitget held the BGB Builders Night, an exclusive event celebrating BGB’s all-time high. The event promises networking with fellow BGB holders, industry influencers, and project founders and was opened by Bitget CEO Gracy, who shed light on Bitget’s future developments. Attendees engaged with key members of the BGB and Bitget Wallet teams, participated in the ‘BGB Hunt’ for a chance to win $BGB, and exchanged ideas with Bitget CEO, Gracy.

Participation in Consensus Hong Kong 2025 shows Bitget’s dedication to creating a collaborative environment to drive innovation within the crypto community. This event will convene the industry’s brightest minds, serving as a launchpad for meaningful discussions, networking, and the forging of partnerships that will influence the trajectory of the digital asset landscape.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, users can contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, users can refer to the Terms of Use.

Contact

Simran Alphonso

media@bitget.com

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/961f8995-8b0c-4f27-8793-17ca12645372

https://www.globenewswire.com/NewsRoom/AttachmentNg/c97f743b-d88d-41ef-b337-8668848a682b

The MIL Network –

February 21, 2025
MIL-OSI USA: U.S. Senators Maggie Hassan, Katie Britt Reintroduce Clergy Act, Support America’s Faith Leaders

US Senate News:

Source: United States Senator for New Hampshire Maggie Hassan
WASHINGTON, D.C. — U.S. Senators Maggie Hassan (D-N.H.) and Katie Britt (R-Ala.) today reintroduced bipartisan legislation, the Clergy Act, to allow clergy members who previously opted not to be covered by Social Security a time-limited opportunity to opt back in to coverage.
“Clergy are important members of our community, who help lead their congregation and provide comfort during quiet moments and in difficult times,” said Senator Hassan. “This commonsense bipartisan measure will allow clergy to opt back into Social Security, helping them to safeguard their financial future and plan for a dignified retirement.”
“I’m proud to reintroduce the Clergy Act, a commonsense measure to support our nation’s faith leaders. This bill would allow clergy members to opt back into the system and pay into Social Security, ensuring fairness while providing an avenue to a secure retirement,” said Senator Britt. “I look forward to getting this bipartisan legislation enacted into law.”
Under current law, certain members of the clergy may make a one-time, irreversible decision to exempt their ministerial earnings from self-employment taxes. If they elect to do so, they do not receive Social Security and Medicare benefits based on that income.
The Clergy Act would provide these community and faith leaders the ability to reverse this decision – which is often made very early in their careers – and afford them the opportunity to better their financial futures. Specifically, the legislation would give clergy members a re-enrollment window to opt back into Social Security coverage. Consistent with current eligibility requirements, the bill would require clergy members to pay into Social Security for 40 quarters, 10 years, to receive benefits after opting back in.
Most clergy members are automatically covered by Social Security. These clergy members have the option to exempt themselves from Social Security coverage if they are conscientiously opposed. The choice to opt out excuses clergy members from paying Social Security taxes and make them ineligible to receive benefits, which some members come to regret.
Congress has repeatedly given clergy members who have exempted themselves from Social Security coverage the opportunity to opt back into the program, including in 1977, 1986, and most recently in 1999 through the Ticket to Work and Work Incentives Improvement Act.
This legislation is endorsed by the Church Alliance, Evangelical Council for Financial Accountability (ECFA), and the National Association of Evangelicals (NAE).
“I am grateful to Senator Britt and Senator Hassan for reintroducing the Clergy Act. Early in their ministries, some pastors opt out of Social Security and then have no opportunity to fix that choice once they realize their mistake. This bill opens a very reasonable window to help and would be a breath of fresh air for them. I encourage the Senate to approve this important legislation,” said ECFA President and CEO Michael Martin.
The Clergy Act would additionally require the IRS to develop and submit to Congress its plan to notify clergy members of their eligibility to request revocations from Social Security participation. The full text of the bill can be found here.

MIL OSI USA News –

February 21, 2025
MIL-OSI USA: Hickenlooper, Bennet, Neguse, Pettersen, Crow Urge Trump Admin to Reinstate 3,400 Forest Service Employees Fired in Mass Layoffs

US Senate News:

Source: United States Senator John Hickenlooper – Colorado
Layoffs increase the risk of wildfires and hurt outdoor recreation in Colorado
WASHINGTON – Today, U.S. Senators John Hickenlooper and Michael Bennet, and Representatives Joe Neguse, Brittany Pettersen, and Jason Crow urged Department of Agriculture Secretary Brooke Rollins to reinstate the 3,400 United States Forest Service (USFS) employees the agency fired this week.
“The USFS is already critically understaffed, and further employee cuts will have real and immediate consequences for Colorado’s economy, rural communities, and wildfire resilience,” the Colorado lawmakers wrote. “The decision to terminate these employees reveals a complete disregard for the value of these public servants and the roles they fill. The decision will destabilize the agency and the rural communities they serve.”
USFS staff who were responsible for wildfire mitigation, range and timber management, habitat conservation, and outdoor recreation management were included in the mass layoffs.
In their letter, the lawmakers emphasized the critical role USFS staff play in maintaining public lands, supporting the outdoor recreation economy, and contributing to the health of rural communities. The agency’s workforce was already strained due to the steady increase in visitors to our national forests and the increased frequency of wildfires over the last three decades.
The text of the letter is available HERE.

MIL OSI USA News –

February 21, 2025
MIL-OSI United Kingdom: Kindred Studios set to return to North Paddington with a permanent home at 300 Harrow Road | Westminster City Council

Source: City of Westminster

Kindred Studios are poised to make a return to North Paddington, having been selected to manage the new purpose-built enterprise space in the 300 Harrow Road development. Previously located at the former Westminster College in Maida Vale, they are delighted to be back in the borough, supporting the creative community.

The new enterprise space is part of a comprehensive regeneration project led by the council, which includes new truly affordable homes, a nursery, community space and a community café. The affordable business space is a key component of the council’s Enterprise Space programme and is designed to serve as a hub for creative incubation, education and outreach. This aligns with the council’s vision for North Paddington, centred around creating a more inclusive, connected and vibrant community.

North Paddington is one of several areas designated as Creative Enterprise Zone (CEZ), with the Mayor of London granting £170,000 towards fostering a vibrant creative and cultural economy in the area and opening opportunities for local people. This comes at a crucial time, as there have been significant losses of space for creatives across the capital, and in North Paddington this included Kindred Studios’ previous home, and the London Print Studio.

The council will now begin working with Kindred Studios who will fit out the space in the coming months, with an opening anticipated later this year. Once completed the 7,500 square foot space will be equipped with around 30 – 36 affordable studios, and co-working spaces for up to 100 local creatives and businesses. Kindred Studios will soon be inviting applications from artists to express interest in the new space. Stay informed by signing up for the Westminster Business Newsletter.

Cllr Geoff Barraclough, Cabinet Member for Planning and Economic Development, said:

“Small businesses in the creative sector need space but often can’t afford market rents in central London.

“That’s why we’re delighted to welcome Kindred Studios to manage our newly purpose-built low-cost workspace at 300 Harrow Road, located in our North Paddington Creative Enterprise Zone.

“Kindred will run a continuous programme of networking, training, and events to transform the council’s newest enterprise space into a permanent, supportive environment for creative businesses. With our help, these small businesses will soon grow into bigger ones, generating good growth and employment for local people.”

Angelique Schmitt, Founder and CEO, of Kindred Studios said:

“It’s a great pleasure for us to be back in the borough, working alongside Westminster Council to deliver a hugely exciting new facility that will benefit creatives, college students, and the wider public with a transformative arts programme designed to foster connection and engagement.”

MIL OSI United Kingdom –

February 21, 2025
MIL-OSI Europe: Minister Burke, Minister Donohoe and Minister Chambers welcome latest figures showing further employment growth in fourth quarter of 2024
Source: Government of Ireland – Department of Jobs Enterprise and Innovation

20th February 2025

The Q4 2024 Labour Force Survey and latest Monthly Unemployment Release show:
- Employment continues to grow, with 71,400 jobs created in the year to Q4 2024
- Total employment now stands at 2.78 million
- Employment growth has been widespread throughout the regions – Employment outside of Dublin increased by 48,000 in the year to Q4 2024 (+2.5 percent)
- Full time employment was up 82,900 (+3.9 percent) year on year in the fourth quarter, while part time employment was down 11,600 (-2.0 percent) year on year
- In January 2025, the seasonally adjusted unemployment rate was 4.0 percent, down from the revised rate of 4.5 in December 2024 and from a rate of 4.5 percent in January 2024
Labour Force Survey (LFS) results published today by the Central Statistics Office show continued growth in Ireland’s labour market, with 71,400 jobs created in the year to Q4 2024.

Employment now stands at 2.78 million, an increase of approximately 2.6 percent over Q4 2023.

This is reflective of the success of the Government’s focus on driving a labour market recovery in the aftermath of the COVID-19 pandemic, as set out in the Economic Recovery Plan. This commitment to continued employment growth has been renewed in the Government’s White Paper on Enterprise, published in December 2022, which sets out the strategic direction for job creation in the years ahead.

Commenting on the figures, the Minister for Enterprise, Tourism and Employment, Peter Burke, said:

“The Irish labour market has shown outstanding progress in 2024, with key indicators reflecting a robust economy and increasing opportunities for workers across multiple industries. Ireland’s workforce continues to expand, driving the nation’s economic resilience and ensuring a brighter future for job seekers across the regions. It is vital that we continue to build on these successes, ensuring that Ireland remains an attractive and inclusive place for individuals to work, live, and prosper.

“The new Small Business Unit, to be established in the coming weeks, will be one of the tools utilised to ensure the delivery of targeted support for small businesses and employers. These small businesses continue to be the backbone of our local and national economies.”

The Minister for Finance, Paschal Donohoe, said:

“2024 was another strong year for the Irish labour market, with the number of people employed reaching 2.78 million in the final quarter. Despite a slight moderation in annual employment growth in the final quarter, the number of people in work increased by 70,000 last year. As a result, employment has now increased by 400,000 compared to the pre-pandemic period, a truly remarkable achievement. Encouragingly, the unemployment rate remains low at 4.2 per cent, broadly consistent with full employment.

“Today’s results point to some modest easing in the tight conditions that have characterised the labour market over the past year. Looking ahead, the economic outlook is increasingly uncertain reflecting the challenging international environment. My Department will publish updated macroeconomic projections as part of its usual spring forecasts that will be published in April.”

The Minister for Public Expenditure, Jack Chambers, said:

“Our incredibly strong levels of employment continue to be a central component of our country’s robust economic performance. Increased growth in job rates – both in our cities and in the regions – underscores the confidence employers and investors have in the Irish economy.

“This is a direct result of the sensible management of our public finances and the economic policies which have been pursued in recent years. The positive figures released today also speak to the level of State investment to support both our small and medium enterprise sector as well as our education system which is producing high calibre, highly skilled workers across a broad range of areas and sectors throughout our economy.

“As an open, trading economy we know we face risks from changes to global trade. The best way to safeguard, protect and further advance our economic success is to enhance our national competitiveness. A key aspect of this is continuing to invest in our people and workers to upskill and diversify our talent pool which will equip us to unlock future economic opportunities and to fully harness the potential of the green and digital transitions.”

Please also find here a link to the CSO release: Labour Force Survey (LFS) – CSO – Central Statistics Office

ENDS

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MIL OSI Europe News –
February 21, 2025
MIL-OSI USA: Sen. Jason Esteves Introduces Legislation to Support Georgia Seniors, Bring Down Cost of Senior Care
Source: US State of Georgia

ATLANTA (February 20, 2025) — This week, Sen. Jason Esteves (D–Atlanta) introduced a series of bills aimed at cutting costs for Georgia seniors and ensuring elderly Georgians have the resources they need to age with dignity, regardless of their income or zip code.

The proposed legislation includes:
- Senate Bill 187 would increase Georgia’s tax credit for caregivers from $150 to $500.
- Senate Bill 186 would allow the use of Medicaid funds for personal care homes and assisted living communities.
- Senate Bill 188 would establish a Georgia Adult and Aging Services Agency.
“As a caregiver for my mother, one of the 180,000 Georgians living with Alzheimer’s, this issue is close to my heart. We must do everything we can to ensure all Georgians have the resources they need to age with dignity,” said Sen. Esteves. “I am excited to continue my work to bring down the cost of senior care, provide financial relief for our caregivers and improve Georgia’s senior care system.”

The three pieces of legislation seek to increase Georgia’s tax credit for caregivers, allow the use of Medicaid funds to pay for assisted living and in-home care and establish a Georgia Adult and Aging Services Agency to address the pressing concerns of Georgia’s aging population. Georgia’s senior population is growing more rapidly than any other age demographic. By 2030, the U.S. Census Bureau estimates that more than 20% of Georgia’s population will be 60 and older.

For more on Sen. Esteves’ personal connection to the legislation, read his guest editorial here.

# # # #

Sen. Jason Esteves represents the 35^th Senate District, including portions of Cobb and Fulton County. He may be reached by phone at (404) 463-1562 or by email at Jason.Esteves@senate.ga.gov.

For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

MIL OSI USA News –
February 21, 2025
MIL-OSI USA: Governor Stein Announces 151 Jobs as Fence Company Selects Columbus County for New HQ and Manufacturing Center

Source: US State of North Carolina

Headline: Governor Stein Announces 151 Jobs as Fence Company Selects Columbus County for New HQ and Manufacturing Center

Governor Stein Announces 151 Jobs as Fence Company Selects Columbus County for New HQ and Manufacturing Center
lsaito
Thu, 02/20/2025 – 10:18

Raleigh, NC

Today, Governor Josh Stein announced that Barrier Fencing Supply Company, a business offering a broad selection of aluminum and vinyl fences to residential and commercial markets, will create 151 jobs in North Carolina. The company reports it will invest $15 million to establish a headquarters and manufacturing center in Columbus County.

“North Carolina’s southeast region and Columbus County are a terrific place to do business,” said Governor Josh Stein. “Barrier Fencing’s project brings good jobs and welcome investment there and the company’s decision shows once again that CEOs recognize North Carolina’s advantages as a business location.”

Barrier Fencing Supply Company is a fencing wholesaler and distributor serving clients across the United States. The business began as a fencing installation company, but quickly moved into supplying its own products to customers. The company’s project in Columbus County will establish a headquarters operation as well as a manufacturing plant for its fencing product lines, enabling the company to bring a large portion of its manufacturing activity back to the United States.

“Our aim is to generate employment, assist those in need, and to make a meaningful difference in the community,” said Tony Bowling, CEO for Barrier Fencing Supply Company. “Our goals and progress will be achieved thanks to the State of North Carolina and Columbus County. We are thankful and look forward to this partnership.”

“North Carolina is the number one state for manufacturing in the Southeast, so it’s only natural that Barrier Fencing would choose to expand here,” said Commerce Secretary Lee Lilley. “From our outstanding transportation networks and quality infrastructure to our skilled and available workforce, North Carolina offers everything a manufacturer needs to succeed.”

Although wages will vary depending on the position, the average salary for the new jobs will be $44,114. The current average wage in Columbus County is $44,081.

A performance-based grant of $275,000 from the One North Carolina Fund will help facilitate Barrier Fencing’s project into Columbus County. The OneNC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All OneNC grants require a matching grant from local governments and any award is contingent upon that condition being met.

“Making products in the United States strengthens our economy, so it’s great to see Barrier Fencing choose Columbus County for their new manufacturing plant,” said N.C. House Majority Leader Brenden Jones. “We welcome these new jobs and further private-sector investment to our region.”

“Many state, regional, and local partners worked hard behind the scenes to support the Barrier Fencing team during its site selection process,” said N.C. Senator Bill Rabon. “I appreciate this collaborative teamwork very much, and our community looks forward to supporting the company as they establish operations in Columbus County.”

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the Commerce Department’s Division of Workforce Solutions, North Carolina’s Southeast, Columbus County, and the Columbus County Economic Development Commission.

Feb 20, 2025

MIL OSI USA News –

February 21, 2025
MIL-OSI: FBS Analysts Explore AI’s Growing Role in Trading

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, Feb. 20, 2025 (GLOBE NEWSWIRE) — FBS, a leading global broker, has released an in-depth analysis of how artificial intelligence (AI) is reshaping the trading landscape. The report highlights AI’s growing role in improving efficiency, accuracy, and data-driven decision making.

AI Reshaping Trading Strategies

According to FBS analysts, one of the most significant developments is the rise of AI-powered trading assistants. These tools process large volumes of real-time market data, identifying trends and patterns that may go unnoticed by traders. By leveraging AI-driven insights, traders can optimize their strategies and improve market timing. A 2024 market report shows that traders using AI-powered assistants improved their entry and exit point accuracy by 45% in highly volatile markets.

AI-driven systems also enable real-time sentiment analysis by scanning financial news and social media to evaluate market dynamics. A global survey conducted by TradingTech Insights in 2024 found that 75% of retail traders utilizing AI-assisted analysis increased transaction accuracy by 50%.

The Rise of AI in Algorithmic Trading

FBS analysts note that AI is revolutionizing algorithmic trading by moving beyond traditional rule-based strategies. Unlike conventional automated trading systems, AI models dynamically adjust trading strategies by continuously analyzing historical and live market data. Bloomberg Intelligence estimates that AI-powered systems accounted for 68% of trade flow on major exchanges like NASDAQ and the London Stock Exchange in 2024.

Predictive analytics, another key AI-driven innovation, allows traders to forecast market trends by analyzing price movements, sentiment indicators, and macroeconomic factors. According to a PwC study, hedge funds incorporating AI-driven predictive analytics achieved returns 23% higher than those relying solely on traditional models.

FBS highlights that AI has significantly increased accessibility to advanced trading tools. Between 2020 and 2024, the number of retail traders using AI-powered platforms rose by 120%, enabling individual traders to access sophisticated analytics once reserved for institutional investors.

As AI technology evolves, FBS has recently introduced the FBS AI Assistant, a next-generation tool designed to support traders in making informed decisions. The FBS AI Assistant simplifies complex data, transforming complicated chart patterns into clear, easy-to-read reports. By leveraging AI-driven insights, traders can validate their strategies, minimize human error, and make informed decisions faster.

Users can stay ahead with AI-powered trading and explore the FBS AI Assistant.

To get full insights, readers can visit here.

About FBS

FBS is a global brand that unites several independent brokerage companies under the licenses of FSC (Belize), CySEC (Cyprus), and ASIC (Australia). With 16 years of experience and over 100 international awards, FBS is steadily developing as one of the market’s most trusted brokers. Today, FBS serves over 27 000 000 traders and more than 700 000 partners around the globe.

Disclaimer

This material does not constitute a call to trade, trading advice, or recommendation and is intended for informational purposes only.

AI-generated analysis is not financial advice. Users must always conduct their own research before trading.

Contact

The FBS Press Office

FBS

press@fbs.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a5282fa0-aefa-44eb-951f-52e3e4904b95

The MIL Network –

February 21, 2025
MIL-OSI: BexBack Introduces Double Deposit Bonus, $50 Welcome Bonus and 100x Leverage for Crypto Traders—No KYC Needed
Source: GlobeNewswire (MIL-OSI)

SINGAPORE, Feb. 20, 2025 (GLOBE NEWSWIRE) — Bitcoin hovers below $100,000, analysts suggest the cryptocurrency market is poised for a long-term period of high volatility. For investors, holding spot positions may no longer suffice to generate significant profits. Recognizing this, BexBack Exchange has launched a groundbreaking offer to empower traders: 100% deposit bonus, $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading—all with a No KYC policy.

Why 100x Leverage Is a Game-Changer?

With 100x leverage, you can multiply your trading positions with minimal capital, unlocking unparalleled profit potential. Here’s how it works:
- Assume Bitcoin is priced at $100,000. By opening a long position with 1 BTC and applying 100x leverage, your trade controls a position worth 100 BTC.
- If the price rises to $105,000, your profit would be (105,000−100,000)×100÷100,000=5BTC—a 500% return.
Coupled with BexBack’s 100% deposit bonus, you can further amplify your trading power and increase your opportunities to profit.

How Does the 100% Deposit Bonus Work?

The deposit bonus is an exclusive feature designed to enhance your trading experience:
1. Boost Your Margin: The bonus serves as additional margin, allowing you to take larger positions.
2. Reduce Liquidation Risk: During volatile markets, the bonus acts as a safety buffer to help maintain your positions.
3. Profits Are Yours: While the bonus itself cannot be withdrawn, the profits earned using it are fully withdrawable.
BexBack’s Unique Advantages
1. No KYC Required: Enjoy fast account setup and anonymous trading without lengthy verification.
2. 100x Leverage: Amplify your trading power and seize market opportunities with one of the highest leverage offerings.
3. 100% Deposit Bonus: Double your trading capital and increase your potential returns.
4. $50 Welcome Bonus: New users can claim $50 in BTC after completing their first trade.
5. Demo Account: A risk-free 10 BTC demo account allows users to practice strategies and familiarize themselves with the platform.
6. Zero Spreads and No Slippage: All trades are executed at precise market prices, ensuring cost transparency.
7. Global Support: Available in the US, Canada, Europe, and beyond, with 24/7 multilingual customer assistance.
8. Affiliate Rewards: Earn up to 50% commission with no caps or time limits through the platform’s affiliate program.
About BexBack

BexBack is a premier cryptocurrency derivatives platform headquartered in Singapore, with offices in Hong Kong, the United States, Japan, and the United Kingdom. The platform is trusted by over 500,000 traders worldwide and holds a US MSB (Money Services Business) license, ensuring compliance with regulatory standards.

BexBack proudly accepts users from the United States, Canada, and Europe, offering a seamless trading experience regardless of location. With innovative trading tools, robust security measures, and user-friendly interfaces, BexBack caters to both beginners and seasoned traders.

The platform provides:
- Comprehensive Futures Contracts: Trade BTC, ETH, ADA, SOL, and XRP with up to 100x leverage.
- Flexible Accessibility: Available on web and mobile for trading anytime, anywhere.
- Top-Notch Security: Multi-signature wallets, SSL encryption, and cutting-edge data protection.
- Transparent Fees: No deposit fees, zero spreads, and simple, straightforward pricing.
By combining innovation, compliance, and user focus, BexBack ensures a superior trading experience tailored to meet the diverse needs of a global audience.

Don’t Miss Out—Start Trading Today!

Whether you’re a seasoned trader or a newcomer, BexBack provides the tools and resources to maximize your crypto trading potential. Take advantage of the 100% deposit bonus, $50 welcome bonus, and 100x leverage to capitalize on Bitcoin’s historic price surge.

Sign up now and start accumulating more BTC today!

Website: www.bexback.com

Contact: business@bexback.com

Contact:
Amanda
business@bexback.com

Disclaimer: This content is provided by BexBack. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

Photos accompanying this announcement are available at:
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The MIL Network –
February 21, 2025
MIL-OSI: BitLyft Supports Small Banks with Robust Cybersecurity Solutions and Services that Mitigate Risks
Source: GlobeNewswire (MIL-OSI)

ST. JOHN’S, Mich., Feb. 20, 2025 (GLOBE NEWSWIRE) — BitLyft, a leading managed detection and response provider (MDR) offering a holistic defense approach, helps small banks protect sensitive customer data, ensure compliance with regulations, and minimize the impact of cyberattacks. BitLyft’s MDR services combine advanced technologies and expert analysis to detect threats in real-time, helping small banks stay ahead of evolving cyber risks.

“Small banks often have limited budgets and resources, causing them to struggle with sufficient cybersecurity programs,” says Jason Miller, Founder and CEO of BitLyft. “With banks handling sensitive financial data and processing transactions around the clock, robust cybersecurity programs are essential to maintain trust, secure financial transactions, and protect customer data from potential threats.”

Small banking institutes struggle with the following:
- Business Email Compromise – Employees are prime targets for phishing, business email compromise, and voice phishing. According to a study from Deloitte, 91% of all cyber attacks begin with a phishing email.
- Meeting FFIEC Guidelines – FFIEC requires small banks to protect sensitive information through encryption, access controls, and incident response procedures.
- Monitoring the NIST Cybersecurity Framework requires banks to identify vulnerabilities, improve resilience, stay compliant, and regularly detect and respond to suspicious activities.
BitLyft’s services for small banks include:
- Minimizing Business Email Compromise by continuously monitoring email traffic and user behavior for anomalies and enforcing strong email authentication policies.
- Meeting Compliance Requirements by automating audit logs, security event tracking, and regulatory reporting, which is essential for FFIEC guidelines.
- Continuous monitoring so that banks comply with regulations like the NIST updated framework that demands regular cyber risk monitoring, ensuring banks have real-time threat detection, automated incident response, and continuous compliance support.
A mid-sized financial institution faced several cybersecurity challenges, primarily managing its small IT team and maintaining compliance with regulatory standards. The financial institution struggled with cybersecurity threats, including phishing campaigns, account compromises, and user access management issues. In addition to the external threats, their small internal IT team could not effectively manage and monitor their security environment. BitLyft stepped in to provide a tailored solution to improve the bank’s overall security posture, gain better visibility into its network, and conduct proactive testing of its defenses through purple team exercises. Through BitLyft’s tailored solutions, the bank is now well-positioned to handle internal and external threats more efficiently and confidently.

About BitLyft

BitLyft enables utilities and corporations to meet regulatory and audit mandates for SOC2 Compliance. The venture’s managed detection and response (MDR) services with an Automated Incident Response (AIR) platform can be implemented cost-effectively and quickly. Prioritizing tech-powered yet high-touch cybersecurity solutions creates a holistic defense, giving clients unwavering confidence; BitLyft staff pledge to prioritize and protect every client. For more information, visit www.bitlyft.com.

For More Information, Contact:
Becky Boyd
MediaFirst
Cell: (404) 421-8497
Becky@MediaFirst.Net

The MIL Network –
February 21, 2025
MIL-OSI USA: Durbin Criticizes Trump And Musk For Dismantling Of USAID And Harming American Farmers In Senate Floor Speech

US Senate News:

Source: United States Senator for Illinois Dick Durbin

February 19, 2025

In his remarks, Durbin also debunked Kremlin-fostered falsehoods about USAID that have been circulated by Trump, Musk, and foreign adversaries and called on Republicans to speak up

WASHINGTON – In a speech on the Senate floor today, U.S. Senate Democratic Whip Dick Durbin (D-IL) criticized President Trump and Elon Musk’s ill-advised mission to dismantle the U.S. Agency forInternational Development (USAID)—the largest distributor of humanitarian aid in the world. Consequently, programs that provide clean drinking water, treat debilitating disease, and advance human rights have been shut down, recklessly gutting American soft power and providing a huge strategic opening to China.

“This month, President Trump and Elon Musk attempted to dismantle USAID, the largest distributor of humanitarian aid on this earth. Musk was gleeful when he said we are ‘feeding USAID to the wood chipper,’” Durbin began.

Durbin then listed the critical programs housed under USAID, which have since shuttered. USAID has provided clean water in Haiti and Jordan, helped fight malaria and tuberculosis in Kenya and Uganda, and supported human rights programs in countries such as Burma, China, Iran, North Korea, and Sudan. The agency has also provided economic assistance to Central America to address the root causes of migration and counter the flow of fentanyl in to the U.S., in addition to leading campaigns to counter disinformation from Russia and China to protect U.S. national security interests.

Despite blatantly inaccurate claims from President Trump and Musk, USAID funding makes up only one percent of the federal budget and billions of those aid dollars flow back into the American economy. Furthermore, these programs have a long history of broad bipartisan support in Congress. In Illinois, these cuts have forced the closure of the Soybean Innovation Lab at the University of Illinois. As a result, 30 experts will lose jobs that were dedicated to expanding international soybean markets, at a time when Illinois ranks number one in the U.S. for soybean production, and new markets are critical foraddressing low soybean prices.

“Not only are these cuts to USAID a betrayal of American values to satisfy the narcissism of Elon Musk, but they hurt innocent people, and they hurt American farmers… who, for decades, have helped provide such critical and strategic food aid,” Durbin continued. “Not only is this sweeping aid cut illegal and counterproductive, but it hurts American farmer in Illinois, Kansas, Louisiana, Nebraska, Iowa, Texas, Wisconsin, and many other states. American farms supply more than 40 percent of the food aid that USAID distributes around the world. And now, hundreds of millions of dollars’ worth of such commodities are stranded in ports, rotting away at the direction of the new administration.”

In addition to hurting the U.S. economy, halting foreign aid has endangered global programs that have helped stem pandemics and supported clean water and sanitation programs.

“Programs like PEPFAR have been a key example of humanitarian success abroad. It was started by President George W. Bush, a Republican president, who wanted to curtail the AIDS epidemic ravaging many parts of the world, including Africa. PEPFAR and the Global Fund have saved more than 25 million lives so far,” Durbin said. “But because of President Trump’s directive, it’s been halted… People will die as a result of this political decision.”

“In the last decade, USAID clean water and sanitation programs have provided more than 70 million people with first-time sustainable access to clean water… These programs that have a six-to-one return in dollars saved in health, economic, and education,” Durbin continued. “But because of the President’s directive, innocent people across the world will suffer, and America’s reputation will be weakened, not made stronger.”

Durbin concluded his remarks by debunking lies about foreign aid, including falsehoods amplified by Russia, China, and other adversaries. Durbin referred to a fabricated video created by a private company with links to the Kremlin, which falsely claimed that celebrities were paid by USAID to visit Ukraine.

“The Russian influence campaign was reposted on Twitter by Elon Musk, no surprise, and became a viral disinformation rallying cry against USAID. But it was false—like so many of the allegations of supposed outrages by USAID,” Durbin said. “And yet, this kind of nonsense is used by Mr. Musk to justify gutting entire congressionally-appropriated American soft power programs, while many of my Republican colleagues, virtually all of them, sit silently.”

“This Senate, Republicans and Democrats, cannot afford to roll over, play dead, and hand over congressional authority on these bipartisan programs and on larger constitutionally-designated Congressional appropriations powers,” Durbin concluded.

Video of Durbin’s remarks on the Senate floor is available here.

Audio of Durbin’s remarks on the Senate floor is available here.

Footage of Durbin’s remarks on the Senate floor is available here for TV Stations.

-30-

MIL OSI USA News –

February 21, 2025
MIL-OSI USA: Sens. Moran, Coons Introduce Legislation to Provide Financing Options for New Energy Projects

US Senate News:

Source: United States Senator for Kansas – Jerry Moran

WASHINGTON – U.S. Senators Jerry Moran (R-Kan.) and Chris Coons (D-Del.) reintroduced the Financing Our Energy Future Act, which expands certain financing tools to all types of energy resources and infrastructure projects. The legislation would allow renewable energy resources and infrastructure projects to form as master limited partnerships (MLPs), a tax structure currently only available to traditional energy projects.

Newly eligible energy sources would include advanced nuclear, sustainable aviation fuel (SAF), hydrogen, biodiesel, biomass, carbon capture and more.

“Being energy independent requires an all-of-the-above approach to energy production,” said Sen. Moran. “Emerging renewable energy companies currently do not have access to a number of tax incentives available to other energy companies. Expanding these incentives to more companies will increase U.S. energy production, spur innovation and help reduce prices for consumers.”

“At a time when the United States needs to boost domestic energy production, Congress should ensure all energy sources are competing on a level playing field,” said Sen. Coons. “The Financing our Energy Future Act is a straightforward, bipartisan solution that will bolster investment in American energy projects, create good-paying jobs, and accelerate our transition to cleaner energy sources.”

“NIA thanks Senator Coons and Moran for recognizing the role master limited partnerships can play in supporting our nation’s advanced nuclear energy leadership,” said Judi Greenwald, Executive Director of the Nuclear Innovation Alliance. “Their bipartisan Master Limited Partnerships legislation will help commercialize important innovations in advanced nuclear energy and other key technologies, increase U.S. competitiveness, and create jobs.”

The Energy Infrastructure Council commends Senators Moran and Coons, along with Representatives Estes and Thompson, for their leadership in introducing the Financing Our Energy Future Act (FOEFA),” said Lori Ziebart, President and CEO of the Energy Infrastructure Council. “This bipartisan legislation is one step that Congress can take this year to grow the energy economy to benefit all working-class Americans. It expands the master limited partnership (MLP) structure to include new and emerging energy sources such as hydrogen, alternative energy, carbon capture and sequestration, and renewable fuels. The MLP structure has proven to be an efficient, cost-effective method for raising capital to support the development of critical energy infrastructure and provides individuals another vehicle to invest in energy infrastructure similar to real estate investment through REITS. Expanding this framework is essential as all energy sources will be needed to ensure a reliable and secure energy future. This expansion deepens the capital pool, improves market efficiency, creates jobs and drives down costs of energy in a way that will help all Americans.”

“To strengthen its economic base and create more reliable and affordable energy, the U.S. needs tax policies that reflect the depth and breadth of America’s energy sector,” said Frank Macchiarola, American Clean Power (ACP) Association Chief Advocacy Officer. “The Financing Our Energy Future Act offers an innovative, logical approach to that challenge that will make America’s energy sector stronger and better able to serve the needs of the nation.”

“BPC Action applauds the introduction of the Financing Our Energy Future Act, an important step in incentivizing the deployment of innovative energy technologies to increase U.S. economic growth and global competitiveness,” said Michele Stockwell, President of Bipartisan Policy Center Action (BPC Action). “We commend Sens. Moran (R-KS) and Coons’ (D-DE) bipartisan leadership to level the playing field for novel energy projects—including around carbon capture, utilization, and storage (CCUS), energy storage, advanced nuclear, and waste-to-energy—to have the same tax-advantaged structures currently available to fossil fuels.”

“As the U.S. enters a period of increasing demand growth, it is important to include all forms of reliable energy in advantageous tax and financing structures to accelerate deployment and ensure grid reliability,” said Jeremy Harrell, CEO of ClearPath Action. “We are excited to see advanced nuclear included in this proposal to help catalyze the next-generation of advanced reactors through access to master limited partnerships.”

An MLP is a business structure that is taxed as a partnership but whose ownership interests are traded like corporate stock on a market. By statute, MLPs are currently only available to investors in energy portfolios for oil, natural gas, coal extraction and pipeline projects. For projects to be an MLP, at least 90 percent of the project’s income must come from these sources. This legislation would amend the Internal Revenue Code to extend the publicly traded partnership ownership structure to renewable energy power generation projects.

The senators are joined in introducing this legislation by Sens. Susan Collins (R-Maine), John Barrasso (R-Wyo.), Roger Marshall (R-Kan.), John Cornyn (R-Texas), Angus King (I-Maine), John Curtis (R-Utah), Kevin Cramer (R-N.D.), Pete Ricketts (R-Neb.) and Mark Warner (D-Va.).

The full legislation can be read here.

MIL OSI USA News –

February 21, 2025
MIL-OSI United Kingdom: TRA recommendation on Corrosion Resistant Steel accepted
Source: United Kingdom – Government Statements

The Government has accepted the TRA’s recommendation to keep an anti-dumping measure on imports of Corrosion Resistant Steel from China to the UK.
The Secretary of State for Business and Trade has today (Thursday 20 February) accepted the Trade Remedies Authority’s (TRA) recommendation to maintain an anti-dumping measure on imports of Corrosion Resistant Steel (CRS) from China for a further five years. 

The process of making CRS, which is primarily used in the construction and manufacturing industries, effectively makes the steel rustproof and it is used in the manufacture of such products as domestic appliances, steel vents and fencing. The TRA estimated the UK producer of CRS contributes around £63 million to the UK economy annually.

The TRA opened a transition review into the measure in February 2023, finding that it was likely that dumping of CRS from China would recur if the anti-dumping measure were no longer applied and that UK industry would likely be injured.

As part of its Economic Interest Test, the TRA also considered claims by the UK industry that if the measure were no longer applied, this would have a direct impact on its ability to proceed with decarbonisation projects and contribution to various net zero initiatives in the UK.

In its final recommendation, the TRA therefore proposed that the level of duties applicable to Chinese exporters remain unchanged, ranging from 17.2% to 27.9%, until at least 9 February 2028. 

The TRA found that following the imposition of the European Union’s measure in 2018, imports into the UK from China fell by 96% from 363,000 metric tonnes in 2016, to 16,000 metric tonnes in 2018.

Background information

The TRA is the UK body that investigates whether trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports. 

Trade remedy investigations were carried out by the EU Commission on the UK’s behalf until the UK left the EU. A number of EU trade remedy measures of interest to UK producers were carried across into UK law when the UK left the EU and the TRA is currently reviewing each one to check if it is suitable for UK needs. View further information on our current transition reviews. 

Anti-dumping duties allow a country or union to take action against goods which are being sold at less than their normal value – this is defined as the price for ‘like goods’ sold in the exporter’s home market. 

These measures are one of the three types of trade remedy measures – along with countervailing measures against countervailable subsidies and safeguard measures which address sudden, unforeseen floods of imports – that are allowed under World Trade Organisation (WTO) rules. 

Corrosion resistant steel: the goods reviewed were flat rolled, iron/alloy/non alloy steel, aluminium killed (meaning the steel has been deoxidized with aluminium, thus eliminating any reaction between carbon and oxygen during solidification), and then plated or coated by hot dip galvanisation with zinc and/or aluminium and/or magnesium.

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Published 20 February 2025
MIL OSI United Kingdom –
February 21, 2025
MIL-OSI USA: In Case You Missed It: RGA Chair Governor Brian Kemp Details How President Trump and Republican Governors are Getting to Work for the American People

Source: US Republican Governors Association

The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

WASHINGTON, D.C. – In case you missed it, in an op-ed published in Fox News, Republican Governors Association (RGA) Chair Georgia Governor Brian Kemp detailed how Republican governors are working alongside President Trump to deliver results for the American people and bring back commonsense leadership.

Read the full op-ed here and below.

RGA CHAIR GOVERNOR BRIAN KEMP: Republican governors ready to work alongside President Trump and bring back commonsense leadership
Fox News
February 19, 2025

Last November, Americans soundly rejected the Democrats’ out-of-touch policies hurting hardworking families and undermining the future prosperity and freedoms of the American people.

President Donald Trump’s message of improving the quality of life for working-class families across the country resonated with American voters, and now Republican governors stand ready to work alongside him to bring commonsense, conservative leadership to the entire country.

It has been four years since Republican governors had a willing partner in the White House. The disastrous agenda of the Biden-Harris administration gave us a crisis at our southern border, 40-year-high inflation that sapped family bank accounts, a far-left bureaucracy that overregulated and overtaxed American job creators, and a more dangerous world than President Trump left them in 2020.

Over the last four years, Republican governors were the last line of defense against the worst impulses of a runaway federal government. We balanced our budgets, cut taxes, created record jobs and investments, supported our men and women in law enforcement, provided students with greater opportunities to succeed inside and outside of the classroom, and put the hardworking men and women of our states first.

When the Biden administration refused to take action to secure our southern border which emboldened the cartels and allowed for fentanyl to cross into our country, it was Republican governors who took action to protect the American people. When Joe Biden sacrificed American jobs at the altar of their extreme climate agenda, we stepped up to incorporate all forms of energy production to bring economic opportunity to our states and strengthen American independence from foreign energy supplies.

Now, our states can support – and work hand in hand to implement – the Trump agenda that the American people voted overwhelmingly to support.

Near the top of the list for me and my fellow governors is supporting the Trump administration on the ground to secure the border and deport criminal illegal aliens who are endangering our communities. Under Joe Biden, every state in America became a border state forced to deal with fentanyl and illicit drug trafficking, gang violence, and human trafficking thanks to the disastrous policies they chose to enact despite objections from Republican governors and many in Congress. Now, the federal government is once again following the law and fulfilling its duty to the American people, and we stand ready to support the president and the appropriate federal agencies to get the job done.

When it comes to education, Republican governors and the Trump administration are committed to reversing the burdensome mandates that interfere with our children’s education and continuing commonsense policies that set our students up for success inside and outside of the classroom. Whether it’s recruiting and attaining highly qualified teachers, expanding school choice, keeping our schools safe, focusing on literacy and civic education, increasing investments in workforce training, or empowering parents – we’re going to keep working together to put students across the country first.

It is also encouraging to see what DOGE is doing under the president’s direction to root out government waste, ridiculous spending projects, and bureaucratic nonsense. The American people have known for decades that Washington DC spends, taxes, and regulates like there is no tomorrow – but we now have an administration that is actually following through on what they told the voters they would do last fall. Every dollar DOGE saves the American taxpayer is one more dollar that can be returned to them, because at the end of the day, that is their money – not the government’s.

Expanding beyond DOGE, the Trump administration has former governors like Secretary of the Interior Doug Burgum and Secretary of Homeland Security Kristi Noem who know how to streamline their agencies, rollback burdensome regulations, stop federal government lawfare that hamstrings the ability of states to create opportunity and innovate, and ultimately deliver results for the American people.

These efforts to rein in an out-of-control federal bureaucracy will only help our nation’s economy recover from the stagnant Biden years and usher in a new American comeback in manufacturing, energy production, and overall job creation.

Safe communities, thriving economies, balanced budgets, educational freedom, and fiscal responsibility – that’s the positive agenda that Republican governors and the Trump administration are offering hardworking Americans and their families. And it’s one that will ensure our country’s best days are still ahead of us.

MIL OSI USA News –

February 21, 2025
MIL-OSI USA: Attorney General Bonta: Dismantling CFPB Would Cause Irreparable Harm to California Consumers
Source: US State of California

Gutting of CFPB creates a gap in regulation greater than before the 2008 financial crisis

OAKLAND — California Attorney General Rob Bonta today joined a coalition of 23 attorneys general in submitting an amicus brief in Mayor and City Council of Baltimore v. Consumer Financial Protection Bureau, a lawsuit challenging the Trump Administration’s efforts to dismantle the Consumer Financial Protection Bureau (CFPB). In the brief, the attorneys general argue that the shuttering of the CFPB would cause catastrophic harm to consumer protections nationwide, leaving state agencies with the sole responsibility to protect consumers.

“The CFPB was created to protect consumers from being taken advantage of by corporations. As the backbone of federal consumer financial protections, the CFPB is a force multiplier for California’s consumer protection efforts, working to protect consumers from fraud, abuse, and unfair business practices and returning over $20 billion to Americans since its creation,” said Attorney General Bonta. “The Trump Administration’s takeover of the CFPB is an effort to destroy the agency responsible for overseeing the mortgage markets, stopping predatory debt collectors, and preventing American families from being exploited by big banks and payday lenders. From sharing complaints and trend data, to providing training, and partnering on joint investigations and litigations, the loss of CFPB’s partnership has devastating and deep implications for California and households across the nation.”

After examining the fallout of the 2008 financial crisis, Congress concluded the crisis resulted in part from the failure of federal banking and other regulators to address significant consumer protection issues detrimental to both consumers and the safety and soundness of the banking system. In direct response to these events, Congress established the CFPB and tasked it with enforcing numerous federal consumer protection statutes and enacting regulations to further these efforts. For over a decade, the CFPB has served as an invaluable partner to state attorneys general and state banking regulators, both by working to protect consumers against fraudulent and abusive practices and by advancing a fair and level playing field in consumer financial markets by issuing regulations under federal law.

In the last month, the Trump Administration has taken a series of actions intended to debilitate the CFPB, including issuing a suspension of work across the agency, terminating probationary employees, and announcing a decision not to draw additional funding from the Federal Reserve. These actions appear to be part of a unilateral effort to permanently shut down the agency, including programs and operations mandated by federal law.

In the brief, filed in the U.S. District Court for the District of Maryland, the attorneys general argue the haphazard and chaotic shuttering of the CFPB:
- Has caused and will continue to cause irreparable harm to the wellbeing of consumers and the states’ own enforcement efforts.
- Leaves no oversight over large national banks.
- Rapidly and substantially increases the burden on state agencies to protect consumers.
For example, one of the most significant losses associated with the CFPB’s shuttering is the loss of their consumer-complaint system, which fields approximately 25,000 consumer complaints about financial products and services each week. This system allows the CFPB to identify and prioritize complaints where a consumer is at risk of imminent home foreclosure and then refer consumers to housing counselors to help them avoid losing their home.

Additionally, the CFPB is the sole federal regulator of nonbank mortgage lenders, and the sole federal entity that is statutorily authorized to supervise and bring enforcement actions against national banks in connection with “abusive” practices. Since 2022, California has referred nearly 4,000 consumers to the CFPB in circumstances where the Bureau is best positioned to provide the assistance needed.

The CFPB’s sudden gutting also means that there will be essentially no oversight of very large banks, such as JPMorgan and Wells Fargo, for their compliance with consumer financial-protection laws. Very large financial institutions that compete with state-chartered banks will have the freedom to loosen their regulatory compliance and profit accordingly — to the detriment of consumers and competing banks and credit unions — as was seen in the years leading up to the 2008 financial crisis.

In filing the brief, Attorney General Bonta joins the attorneys general of New York, New Jersey, the District of Columbia, Arizona, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Mexico, North Carolina, Oregon, Rhode Island, Vermont, Washington, and Wisconsin.

A copy of the amicus brief can be found here.

MIL OSI USA News –
February 21, 2025

Category: Economy

Summary

In his remarks, Durbin also debunked Kremlin-fostered falsehoods about USAID that have been circulated by Trump, Musk, and foreign adversaries and called on Republicans to speak up

Background information

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