Category: Economy

MIL-OSI Europe: Written question – NRRP funds and university housing – E-000211/2025
Source: European Parliament
Question for written answer E-000211/2025
to the Commission
Rule 144
Pina Picierno (S&D)

The Italian NRRP funds earmarked for the creation of university housing – amounting to EUR 1.2 billion – are at risk of being withdrawn due to a lack of adequate applications and the fact that it would be impossible to complete the works by June 2026.

Furthermore, the decision of the Minister for Universities and Research to eliminate single rooms in university halls of residence financed as mentioned above by the NRRP, not only raises concerns about the possible withdrawal of funds, but could also affect the psychological well-being of students.

Considering that the change in the characteristics of the projects funded (such as the elimination of single rooms) could be interpreted as a deviation from the commitments made by Italy and that the EU has placed mental health as a priority in its policies, and has called on the Member States to take measures to promote it (such as providing a suitable proportion of single and shared rooms), can the Commission answer the following questions:

1.Does the Commission consider the proposal approved by the Italian Government to completely eliminate single rooms to be appropriate, especially in light of the principles of inclusion and psychological well-being of students?

2.Does the approved change comply with the established guidelines for the use of funds?

3.What measures are foreseen to monitor these changes to projects that are already funded?

Submitted: 20.1.2025
Last updated: 28 January 2025
MIL OSI Europe News –
January 29, 2025

MIL-OSI Europe: REPORT on the draft Council directive amending Directive 2006/112/EC as regards VAT rules for the digital age – A10-0001/2025

Source: European Parliament

DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

on the draft Council directive amending Directive 2006/112/EC as regards VAT rules for the digital age

(15159/2024 – C10‑0170/2024 – 2022/0407(CNS))

(Special legislative procedure – renewed consultation)

The European Parliament,

– having regard to the Council draft (15159/2024),

– having regard to the Commission proposal to the Council (COM(2022)0701),

– having regard to its position of 22 November 2023 [1],

– having regard to Article 113 of the Treaty on the Functioning of the European Union, pursuant to which the Council consulted Parliament again (C10‑0170/2024),

– having regard to Rule 84 and 86 of its Rules of Procedure,

– having regard to the report of the Committee on Economic and Monetary Affairs (A10-0001/2025),

1. Approves the Council draft;

2. Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament;

3. Asks the Council to consult Parliament again if it intends to amend its draft substantially;

4. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

EXPLANATORY STATEMENT

On 8 December 2022, the Commission presented the ‘VAT in the digital age’ package (ViDA), which consists of three proposals:

• a proposal for a Council directive amending directive 2006/112/EC as regards VAT rules for the digital age;

• a proposal for a Council regulation amending regulation (EU) No 904/2010 as regards the VAT administrative cooperation arrangements needed for the digital age

• a proposal for a Council implementing regulation amending implementing regulation (EU) No 282/2011 as regards information requirements for certain VAT schemes.

The package developed an action plan for fair and simple taxation that emphasized the need to reflect on how technology can be used in the fight against tax fraud and how the current VAT rules in the European Union could be adapted for doing business in the digital age. The three changes to make VAT fit for the digital age are

i) a new real time digital reporting system based on e-invoicing,

ii) update VAT rules for the platform economy and

iii) a single vat registration for businesses selling to consumers across the EU.

The directive and the regulation were subject to a special legislative procedure. The European Parliament was consulted and delivered its opinion on 22 November 2023.

On 5 November 2024, the Council agreed on the ViDA package. However, given the substantial differences between the Commission’s proposal (i.e. the Directive) on which the European Parliament was initially consulted and the text of the Council, the Council decided on 7 November 2024 to re-consult the European Parliament.

The deemed supplier regime was a significant point of contention within the Council, making it particularly challenging to reach a final compromise.

The Council decided that the deemed supplier rules will be introduced first on a voluntary basis as from July 1, 2028, and then mandatory as from January 1, 2030. Member States will also be authorised to exempt SMEs from the deemed supplier regime without having to report to the VAT committee. In its first opinion, the EP highlighted the need to limit the administrative burden for SMEs.

The Council also introduced more flexibility for Member States to operate their own invoicing systems as many member states have already invested heavily in their own software. Summary invoices are also reintroduced under certain conditions despite the Commission’s proposal to prohibit them. The Parliament also favoured the reintroduction of summary invoices in order to keep flexibility and simplicity for Member States and businesses.

On the implementation deadlines, the Parliament opinion suggested longer deadlines than in the Commission proposal. The Council even further extents the deadlines beyond the Parliament’s proposals.

Therefore, the rapporteur is of the view that a simplified procedure without amendments is the relevant procedure.

ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

The rapporteur declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

PROCEDURE – COMMITTEE RESPONSIBLE

Title	Amending Directive 2006/112/EC as regards VAT rules for the digital age
References	15159/2024 – C10-0170/2024 – COM(2022)0701 – C9-0021/2023 – 2022/0407(CNS)
Date Parliament was consulted	10.2.2023
Committee(s) responsible	ECON
Rapporteurs Date appointed	Ľudovít Ódor 19.11.2024
Simplified procedure – date of decision	16.1.2025
Discussed in committee	16.1.2025
Date adopted	16.1.2025
Date tabled	17.1.2025

MIL OSI Europe News –

January 29, 2025

MIL-OSI Europe: Netherlands: Royal Schiphol Group enters into a loan agreement with the EIB for infrastructure investments

Source: European Investment Bank

Royal Schiphol Group and the European Investment Bank (EIB) have entered into a loan agreement to the value of EUR 175 million. This represents the first installment of a total financing of EUR 400 million. The loan contributes to the financial stability of Schiphol and is an important milestone in the realisation of the major EUR 6 million investment programme.

CFO Robert Carsouw: ’The largest investment programme in the airport’s history asks for robust finances and healthy cashflows. Additional financial resources are necessary in order to realise the infrastructure investments. We are very pleased with the support of the EIB and look forward to continuing our longstanding relationship. This loan contributes to ensuring our financial foundation.’

EIB Vice-President Robert de Groot added: ‘Our relationship with Schiphol goes back more than two decades, and we are committed to supporting them in these efficiency improvements, to the benefit of both staff and travelers. The EIB finances projects that matter to people, and align with the strategic priorities of the EU, this is a great example of both.’

New baggage basement

This loan will be used primarily for the construction of a new baggage basement. The new baggage basement will provide the necessary capacity to replace and upgrade the existing baggage system, which will improve working conditions for baggage handlers. The preparations for construction started recently.

Investment portfolio: EUR 6 billion in 5 years

Schiphol is investing EUR 6 billion over the next 5 years in the improvement of airport facilities including the maintenance and renovation of aviation infrastructure, renovation of passenger and employee facilities and implementation of innovative improvements to working conditions. Read more here.

Ongoing EIB support

Apart from previous financing for Schiphol’s infrastructure projects, in 2023, the EIB supported the airport’s electrification of airside equipment, which helped to lower emissions in line with Schiphol’s sustainability targets. With the planned investments related to this new loan, Schiphol will enhance its operational capabilities and contribute to the critical civilian infrastructure. The loan therefore falls under the EIB’s Strategic European Security Initiative (SESI).

MIL OSI Europe News –

January 29, 2025
MIL-OSI Europe: Answer to a written question – Cybersecurity in Italy and the effectiveness of NRRP investments in cybersecurity – E-002269/2024(ASW)
Source: European Parliament

Strengthening Member States’ cyber resilience capabilities, coordinating national cyber efforts and securing critical infrastructures are top priorities for the Commission, which monitors closely cyber threats and incidents affecting the EU’s critical infrastructure.

The directive on measures for a high common level of cybersecurity across the Union (NIS 2 Directive)[1] requires from entities in 18 critical sectors, including public administration, to take risk-based cybersecurity risk-management measures and report significant cyber incidents.

The NIS 2 Directive transposition deadline for the Member States was 17 October 2024. The Commission is now assessing the Italian transposition legislation that was notified on time.

In addition, Regulation on digital operational resilience for the financial sector (DORA)[2] requires financial entities to develop capabilities to detect, prevent, limit the impact of information and communication technologies-related incidents, to respond and recover from them, and report major incidents. To assess the effectiveness of the entities’ capabilities, DORA introduces testing requirements.

Investment 1.5 ‘Cybersecurity’[3], worth EUR 623 million, from Italy’s National Recovery and Resilience Plan (NRRP) spans from creating a Cybersecurity Agency to the implementation of actions boosting Italy’s cyber resilience capabilities.

In the context of Italy’s fifth payment request, five milestones and targets were assessed as satisfactorily fulfilled: (i) creating the National Cybersecurity Agency (ACN), (ii) defining the national cybersecurity architecture, (iii) the start-up of a network of cybersecurity laboratories, (iv) activating a central audit unit within the ACN (v) completing five strengthening interventions.
- [1] http://data.europa.eu/eli/dir/2022/2555/oj
- [2] https://eur-lex.europa.eu/eli/reg/2022/2554/oj/eng
- [3] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52024PC0509
MIL OSI Europe News –
January 29, 2025
MIL-OSI Europe: Answer to a written question – European aid for Georgia – E-001856/2024(ASW)
Source: European Parliament
The Commission stands ready to support the Georgian people on their European path.

At the same time, in reaction to the developments in Georgia, including targeting civil society and restricting the rights of lesbian, gay, bisexual, transgender, intersex and queer (LGBTIQ) people, and in line with the European Council’s conclusions[1], the Commission launched a review of its bilateral financial assistance portfolio benefiting Georgia. As a result, over EUR 120 million from the 2022-2024 envelopes were withheld or will be reallocated.

Ensuring and upholding human rights, including the rights of LGBTIQ people, is at the core of the enlargement process, annually assessed within the Commission’s enlargement report.

The Commission has repeatedly stressed that the legal initiatives targeting LGBTIQ people undermine the fundamental rights of Georgians, risk further stigmatisation and discrimination of part of the population and are not in line with Georgia’s stated aim to join the EU[2].

In 2022, the Commission referred Hungary to the Court of Justice of the EU over violation of LGBTIQ rights[3]. It also found that provisions of the so-called child-protection law have a concrete and direct impact on the compliance with the horizontal enabling condition on the EU Charter of Fundamental Rights[4], based on the criteria under Annex III of the Common Provisions Regulation[5].

Therefore, the reimbursement of payment requests related to certain specific objectives of three Cohesion Policy programmes are partly suspended.

[1] https://www.consilium.europa.eu/media/qa3lblga/euco-conclusions-27062024-en.pdf

[2] https://www.eeas.europa.eu/eeas/georgia-statement-spokesperson-legislative-package-family-values-and-protection-minors_en?s=221

[3] https://ec.europa.eu/commission/presscorner/detail/en/ip_22_2689

[4] https://ec.europa.eu/commission/presscorner/detail/en/qanda_23_6466

[5] Regulation (EU) 2021/1060 of 24 June 2021.
Last updated: 28 January 2025
MIL OSI Europe News –
January 29, 2025
MIL-OSI Europe: Answer to a written question – Conformity of Tuscany’s regional waste management plan – E-002592/2024(ASW)
Source: European Parliament

1. According to available information, Tuscany’s regional waste management plan has not yet been formally adopted at regional Council level. After its adoption, the plan shall be placed on a publicly available website. Italy shall inform the Commission of the adoption[1]. When this has taken place, the Commission will assess the plan in relation to the legal requirements of the Waste Framework Directive and the Common Provisions Regulation[2].

2. The Common Provisions Regulation lays down the conditions for Member States to access the European Regional Development Fund[3], and the Cohesion Fund[4], the so-called ‘enabling conditions’.

The enabling condition on updated planning for waste management means that one or more waste management plan(s) as referred to in the Waste Framework Directive shall be in place and include a number of specific elements[5].

As for the Recovery and Resilience Facility[6], the Italian Recovery and Resilience Plan (RRP) includes several measures related to waste management. However, the adoption of the regional waste management plans is not included in the Italian RRP.

Without prejudice to the Commission’s role as guardian of the Treaties, Member States are required to ensure compliance of measures included in the RRPs with EU and national law, including with the EU environmental acquis.

In regard to the RRP, the Commission assesses compliance with the requirements of the Council Implementing Decision[7] upon receipt of the relevant payment requests.

As a rule, following the principle of ‘do not significant harm’ (DNSH), landfills, incinerators, mechanical biological treatment plants, and activities where the long-term disposal of waste may cause harm to the environment are not eligible to be financed under RRPs.
- [1] Article 31-33 of Directive 2008/98/EC of the European Parliament and of the Council of 19 November 2008 on waste and repealing certain Directives, OJ L 312, 22.11.2008, p. 3-30, as amended by Directive (EU) 2018/851 of the European Parliament and of the Council of 30 May, OJ L 150, 14.6.2018, p. 109-140.
- [2] Article 28 of Directive 2008/98/EC on waste, Annex IV, Section 2.6 of the Common Provisions Regulation, Regulation (EU) 2021/1060 of the European Parliament and of the Council of 24 June 2021 laying down common provisions on the European Regional Development Fund, the European Social Fund Plus, the Cohesion Fund, the Just Transition Fund and the European Maritime, Fisheries and Aquaculture Fund and financial rules for those and for the Asylum, Migration and Integration Fund, the Internal Security Fund and the Instrument for Financial Support for Border Management and Visa Policy.
- [3] https://ec.europa.eu/regional_policy/funding/erdf_en
- [4] https://ec.europa.eu/regional_policy/funding/cohesion-fund_en; N.B. Italy is not eligible for the Cohesion Fund.
- [5] Annex IV, Section 2.6 of the Common Provisions Regulation: Regulation (EU) 2021/1060 of the European Parliament and of the Council of 24 June 2021 laying down common provisions on the European Regional Development Fund, the European Social Fund Plus, the Cohesion Fund, the Just Transition Fund and the European Maritime, Fisheries and Aquaculture Fund and financial rules for those and for the Asylum, Migration and Integration Fund, the Internal Security Fund and the Instrument for Financial Support for Border Management and Visa Policy, OJ L 231, 30.6.2021, p. 159-706.
- [6] https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility_en
- [7] https://op.europa.eu/en/publication-detail/-/publication/a0e7539e-8d32-11ee-8aa6-01aa75ed71a1/language-en
MIL OSI Europe News –
January 29, 2025
MIL-Evening Report: Sydney’s Museum of Contemporary Art is now charging for entry. It’s a sign our cultural sector needs help

Source: The Conversation (Au and NZ) – By Chiara O’Reilly, Senior Lecturer in Museum Studies, University of Sydney

From January 31, Sydney’s Museum of Contemporary Art (MCA) will reintroduce ticketed entry, charging adults $20 for general admission and $35 for combined special exhibitions and museum entry. Entry will remain free for Australian students and people under 18.

This decision, which reverses 24 years of free general entry to the museum, reflects broader challenges faced by museums globally.

Driven by philanthropy

The MCA was opened in 1991, established through the bequest of Australian expatriate artist John Power. As an independent, not-for-profit organisation, its administrative and financial structure is different from major cultural institutions in Sydney.

Unlike the Art Gallery of New South Wales and Australian Museum, which are statutory bodies of the NSW government, the MCA receives a far smaller proportion of state funding.

For 2023-2024, the NSW government delivered A$46.2 million in recurrent funding to the Art Gallery of NSW and $47.4 million to the Australian Museum. The MCA received $4.2 million, which represented just 16% of its total revenue.

This funding disparity has always required the MCA to secure the bulk of its budget through other revenue streams. Corporate and philanthropic partnerships have been vital.

In 2000, financial support from Telstra allowed the museum to offer free admission. In 2012, philanthropists including Simon and Catriona Mordant contributed greatly to fund the museum’s expansion.

The MCA has also been proactive in leveraging its venue to maximise income. In 2023, 41% of revenue was earned through commercial services including venue hire, retail and commercial leases.

Why there’s no more free entry

Despite reducing its opening hours to six days a week post-COVID and scaling back audience engagement, the MCA’s financial pressures continued. According to director Suzanne Cotter, the museum “didn’t have any choice” but to implement an admission fee.

While ticketed admission creates a financial barrier, it also provides visitors a way to invest directly in the museum’s future and sustainability.

The MCA has consistently demonstrated its value, generating impressive visitor numbers. In 2019, attendance surpassed one million visitors, setting the museum ahead of many international peers.

But the effects of the COVID pandemic have lingered. In 2022-23, the museum attracted 859,386 visitors – a 15% decline compared to 2019.

In comparison, the Art Gallery of NSW welcomed almost two million visitors to its expanded campus in 2023, representing a 51% increase from pre-COVID figures.

The MCA isn’t struggling alone

Internationally, there are clear signs of an industry under immense pressure.

Major US institutions such as The Metropolitan Museum of Art (The Met), The Museum of Modern Art (MoMA) and the Guggenheim and Whitney have all increased general adult admission fees to US$30.

The Met’s shift away from a pay-what-you-can model to fixed admission for most visitors in 2018 was driven by speculation of a US$40 million deficit. However, New York state residents and students, as well as New Jersey and Connecticut students, can still pay what they wish – even as little as one cent.

Similarly, at the Whitney, a US$2 million donation last year by Trustee and artist Julie Mehretu has helped enable free entry for under-25s.

These examples show how paying visitors can support a museum’s sustainability while preserving subsidised access for priority groups.

Across Europe, major museums including the Louvre and Uffizi are also increasing prices, though many retain periodic free days to ensure accessibility.

In the UK, smaller regional museums are resorting to admission charges for the first time in their histories.

Meanwhile, commentators such as cultural historian Ben Lewis argue major institutions such as the British Museum should start charging general admission fees to supplement stagnant government funding and decrease dependence on potentially unethical corporate donors.

This would allow the museums to pay competitive wages and fund essential work, Lewis argues.

Lewis’s concerns about corporate donations accord with debates taking place internationally and in Australia around the role of big oil, mining and pharmaceutical companies that use the arts to “greenwash” their public brand.

Can accessiblity be prioritised in Australia?

The MCA’s situation, which reflects international trends, raises questions about arts funding and access.

Both the NSW and federal governments’ arts policies recognise the value of providing access to the arts. As the NSW government’s Creative Communities policy notes, “the right to participate in arts, cultural and creative activities is a fundamental human right.”

The MCA excelled in this regard under its free admission policy, attracting a diverse audience that other museums often struggled to reach. In 2023, about half of the museums on-site visitors were under 35, and 45% were from culturally and linguistically diverse backgrounds.

The NSW government’s policy – along with its national counterpart Revive – also emphasises the importance of telling Australian stories. This is another area the MCA has excelled in.

The question then is: if the state and federal governments value equitable access to the arts and appreciates the platforming of Australian stories, will they commit to a more sustainable funding arrangement for organisations like the MCA?

Without such a commitment, the gap between those who can afford to attend museums and those who can’t will continue to widen – compromising the democratic ideal of an accessible cultural sector.

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

– ref. Sydney’s Museum of Contemporary Art is now charging for entry. It’s a sign our cultural sector needs help – https://theconversation.com/sydneys-museum-of-contemporary-art-is-now-charging-for-entry-its-a-sign-our-cultural-sector-needs-help-247458

MIL OSI Analysis – EveningReport.nz –

January 29, 2025
MIL-Evening Report: As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost

Source: The Conversation (Au and NZ) – By Danielle Celermajer, Professor of Sociology and Social Policy, University of Sydney

As the 2019-2020 megafires took hold across eastern Australia, many of us reeled at the sight of animals trying and often failing to flee. Our screens filled up with images of koalas with burned paws and possums in firefighter helmets.

The death toll was staggering, estimated at up to three billion wild animals killed or displaced. Millions more were severely injured. Tens of thousands of domesticated animals were killed or had to be euthanised.

In fighting these fires, authorities focused almost entirely on protecting human lives and property, other than targeted rescue efforts for the last remaining wild stand of Wollemi pine. The role of rescuing and caring for domesticated and wild animals fell almost entirely to community groups and individual carers, who stepped up to fill the gap at significant cost to themselves – financially, emotionally and sometimes even at a risk to their safety.

Our new research draws on more than 60 interviews with wildlife carers and groups in the Shoalhaven region south of Wollongong in New South Wales. These people spontaneously organised themselves to care for thousands of domesticated, farm and wild animals, from evacuating them from fire zones to giving them shelter, food, water and healthcare.

The lengths our interviewees went to were extraordinary. But these rescue efforts were largely invisible to authorities – and, as our interviewees told us, sometimes even condemned as irresponsible.

What did our interviews tell us?

The standard view in Australia is that only humans matter in the face of bushfires. But the way affected communities reached out to save as many animals as they could shows many people think we ought to be acting differently.

One interviewee told about screaming for “her babies” as Rural Fire Service firefighters evacuated her. In response, the firies searched the house for human babies to no avail. When they found out she meant her wombat joeys, they laughed in relief. But to our interviewee, the joeys were like her babies. The joeys were safe inside her house.

People cared for a wide range of species, from horses, chickens, bees and cows to native birds, possums, wombats and wallabies. Despite this, we found common themes.

Many people felt the system had let them down when it came to protecting animals. This is why many of them felt they had to take matters into their own hands to ensure that animals survived.

As one interviewee told us:

one thing that you have to realise, is people’s animals are their children, and they are their life. If you let someone think that their animal isn’t safe, they will put themselves in danger to try and get to that animal or save that animal […] That’s one thing the firies — you know, if they’re not an animal compassionate person, they don’t get that.

While some guidance on disaster preparation talks about how to protect pets such as cats and dogs, wildlife carers, farmers and horse owners often found themselves facing incoming fires with little or no information or support.

People also told us about a lack of information on how to care for different types of animals during disasters. Information was often nonexistent or hard to locate, making decision-making during the crisis very difficult.

As one farmer told us:

there’s not any information on realistically what you do with your animals in a case of […] a massive disaster. I mean, it’s like someone said about cutting the fences. But now you’ve got stocking cattle running through the bush and they don’t know where the fire’s going to turn or what’s going to happen.

The needs of animals differ significantly. It’s harder to find shelter for a horse than a smaller animal, for instance. Wildlife being cared for already need assistance, due to being orphaned, injured or ill. It’s harder to evacuate injured animals or joeys who need regular feeding than it is to evacuate healthy adult animals.

Our interviewees reported price spikes for transport, food, temporary fencing and medicines during the 2019-2020 emergency season. Caring for animals always comes with costs, but the cost burden intensified over the Black Summer and afterwards.

Caring for animals came with another cost too, to mental health. Many of our interviewees told us they still felt traumatised, even though our interviews were two or three years after the fires.

As one interviewee told us:

the people at Lake Conjola […] said it was like an apocalypse. They said there was dead birds dropping out of the sky. Kangaroos would come hopping out of the bush on fire […] I know it really heavily affected most people on the beach, the horrific things that they saw.

Despite facing a lack of formal support and with limited information, people organised themselves very quickly into networks to share access to safe land, transport, food, labour and information. Dedicated people set up social media groups to allocate tasks, call for help and so on. This unsung animal rescue effort was almost entirely driven by volunteers.

What should we do before the next megafires?

Australia will inevitably be hit by more megafires, as climate change brings more hot, dry fire weather and humidity falls over land.

What would it mean to include animals in our planning? To start with, more and better information for wildlife carers, farmers, pet owners and the wider community. It would mean directing more funds to animal care, both during and after disasters, and including animal care in local, state and federal disaster planning. It would mean improving communication networks so people know where to go.

To this end, we developed a new guide for communities wanting to be better prepared to help animals in the next disaster. We prototyped an app designed to help communities organise themselves in order to help animals during disasters.

The scale of the Black Summer fires found governments and communities largely
unprepared. But we are now in a position to learn from what happened.

As authorities prepare for the next fires, they should broaden how they think about disaster preparation. Our research suggests disaster planning needs to take place at a community level, rather than a focus on individual households. And vitally, authorities need to think of communities as made up of both humans and animals, rather than just humans.

This research project was funded by the Australian government via a Bushfire Recovery Grant from the Department of Industry, Science, Energy and Resources. It was conducted in partnership with the Shoalhaven City Council. This article was prepared solely by the University of Sydney research team and reflects our research and analysis only.

This research project was funded by the Australian government via a Bushfire Recovery Grant from the Department of Industry, Science, Energy and Resources. It was conducted in partnership with the Shoalhaven City Council.

– ref. As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost – https://theconversation.com/as-the-black-summer-megafires-neared-people-rallied-to-save-wildlife-and-domestic-animals-but-it-came-at-a-real-cost-248432

MIL OSI Analysis – EveningReport.nz –

January 29, 2025
MIL-Evening Report: As the Myanmar junta’s hold on power weakens, could the devastating war be nearing a conclusion?

Source: The Conversation (Au and NZ) – By Adam Simpson, Senior Lecturer, International Studies, University of South Australia

It has now been four years since the Myanmar military launched its cataclysmic coup against the democratically elected government of Aung San Suu Kyi on February 1 2021, starting a civil war that has devastated the country.

Suu Kyi remains locked up, as do countless other activists and regime opponents. There is no easy resolution in sight.

Indeed, the country is at a nadir. The war has sparked an economic crisis that has destroyed Myanmar’s health and education systems. Half the population now lives in poverty, double the rate from before the coup. The deteriorating electricity network causes widespread blackouts.

According to the United Nations, more than 5,000 civilians have been killed and 3.3 million people have been displaced by the fighting. More than 27,000 people have also been arrested, with reports of sexual violence and torture rife.

Nevertheless, opposition forces – including ethnic armies and the People’s Defence Force militias drawn from the civilian population – have been gathering strength, with a string of victories against the junta’s army.

The regime now controls less than half the country. And recent strategic losses are weighing heavily on the military leaders, raising questions about whether the government could suddenly collapse like the Assad regime in Syria late last year.

As the war enters a fifth year, there are two significant things to watch that could determine the country’s future – the battleground gains made by the opposition forces and the state of the failing economy.

Junta under pressure on the battlefield

Following the opposition Three Brotherhood Alliance’s battleground successes in late 2023, China brokered a ceasefire between the junta and alliance in northern Shan State.

When that ceasefire ended last June, the Myanmar National Democratic Alliance Army (MNDAA), one of the members of the alliance, captured the key trading town of Lashio, as well as the junta’s nearby Northeast Regional Military Command. It was the first time one of the 14 regional military commands had fallen to an opposition group in more than 50 years of military rule.

China has recently brokered another ceasefire between the MNDAA and the military, according to the Chinese foreign ministry. The terms have not been made public, but unless the insurgents relinquish Lashio and the military command – which is unlikely – it won’t alter the balance of power.

In December, the military lost another command centre in Rakhine State in western Myanmar to the Arakan Army, another member of the Three Brotherhood Alliance. The Arakan Army now controls 14 of that state’s 17 townships.

The Arakan Army, too, said recently it is open to political dialogue to potentially end the fighting. But it, too, is only likely to stop its military offensives for extremely favourable terms.

In a major study undertaken in late 2024, the BBC assessed the junta only had full control of 21% of Myanmar’s territory. Ethnic armies and other opposition forces controlled 42% of the country, while the remaining areas were contested.

In response, the junta has intensified its “scorched earth” tactics in areas outside its control, including indiscriminate and deliberate strikes against civilians. With dwindling reserves of willing fighters, air power is the main combat advantage it holds over the opposition forces.

Economic woes

Myanmar’s economic situation four years after the coup shows, starkly, just how much has been lost.

Myanmar is now experiencing a full-blown economic and currency crisis.

The incremental gains in economic development, education, nutrition and health care of recent decades have been reversed very quickly. Three-quarters of the population is now living a subsistence existence.

Many young people are fleeing abroad, joining resistance groups, or eking out dangerous livelihoods on the margins. To make matters worse, the junta activated a longstanding but dormant conscription law last February to boost its dwindling forces. Those who refuse the draft face five years in prison.

In response to the Arakan Army’s successes, the junta is also isolating much of Rakhine State. This is contributing to widespread poverty and a looming famine, which could affect two million people.

And in an attempt to control the digital space, the junta enacted a sweeping new cybersecurity law earlier this month. People can now be imprisoned for using a virtual private network or sharing information from banned websites, among many other offences.

Could Myanmar fall apart?

The ASEAN regional bloc, chaired by Malaysia this year, has done little to solve the crisis, although it hasn’t accepted the junta’s hollow plans to hold elections this year.

Disagreements among the ASEAN members over strategy have ensured that little progress has been made. Thailand recently broke ranks to invite the junta’s foreign minister to regional talks about border security, even though the junta currently controls few of the country’s borders.

An accelerated economic deterioration could contribute to further unrest and drive even more migrants to neighbouring countries. Already, the millions of Myanmar migrants living in Thailand have precipitated anti-migrant protests and mass arrests.

So, given the combustible state of the country, could the junta’s hold on power suddenly collapse like the Assad regime in Syria last year?

It’s not likely. Unlike Syria, the opposition in Myanmar is not heavily backed by major international players. China’s support for various insurgent actors comes and goes depending on political calculations, while the United States and European Union have provided little material support.

In addition, the military has been effectively running Myanmar for 60 years and is well practised in counterinsurgency strategies. Although defections from the military continue, the conscription law is bolstering its numbers of – mostly reluctant – soldiers.

However, the fall of Syria’s oppressive government – as well as the government in Myanmar’s neighbour, Bangladesh – demonstrates how fragile long-standing regimes can be, particularly when faced with persistent challenges from armed groups and a motivated population.

And as in Syria, there are fears – particularly within China – that Myanmar could splinter along ethnic lines. The deteriorating security situation has led China to send its own private security corporations to secure its strategic investments in the country and become an active ceasefire deal-maker.

Even if the junta can be ousted, creating a workable federal system that involves power-sharing among the complex patchwork of ethnic groups will be a difficult task. The question of how to reintegrate nearly a million Rohingya displaced across the border in Bangladesh is another daunting challenge.

However, for the first time in years, there is optimism that opposition forces could eventually succeed in vanquishing the junta. Then begins the arduous task of rebuilding a shattered nation.

As a pro vice-chancellor at the University of Tasmania, Nicholas Farrelly engages with a wide range of organisations and stakeholders on educational, cultural and political issues, including at the ASEAN-Australia interface. He has previously received funding from the Australian government for Southeast Asia-related projects and from the Australian Research Council. Nicholas is on the advisory board of the ASEAN-Australia Centre, which is a new Australian government body, and also deputy chair of the board of NAATI, Australia’s government-owned accreditation authority for translators and interpreters. He writes in his personal capacity.

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

– ref. As the Myanmar junta’s hold on power weakens, could the devastating war be nearing a conclusion? – https://theconversation.com/as-the-myanmar-juntas-hold-on-power-weakens-could-the-devastating-war-be-nearing-a-conclusion-247987

MIL OSI Analysis – EveningReport.nz –

January 29, 2025

MIL-OSI: C&F Financial Corporation Announces Net Income for 2024

Source: GlobeNewswire (MIL-OSI)

TOANO, Va., Jan. 28, 2025 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, today reported consolidated net income of $6.0 million for the fourth quarter of 2024, compared to $5.1 million for the fourth quarter of 2023. The Corporation reported consolidated net income of $19.9 million for the year ended December 31, 2024, compared to $23.7 million for the year ended December 31, 2023. The following table presents selected financial performance highlights for the periods indicated:


	For The Quarter Ended						For the Year Ended
Consolidated Financial Highlights (unaudited)	12/31/2024			12/31/2023			12/31/2024			12/31/2023
Consolidated net income (000’s)	$	6,029		$	5,088		$	19,918		$	23,746

Earnings per share – basic and diluted	$	1.87		$	1.50		$	6.01		$	6.92

Annualized return on average equity		10.60	%		10.06	%		9.02	%		11.68	%
Annualized return on average tangible common equity¹		12.17	%		11.74	%		10.37	%		13.58	%
Annualized return on average assets		0.94	%		0.85	%		0.80	%		0.99	%

_________________
¹ For more information about these non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles (GAAP), please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

“While the past year’s financial performance reflected the challenges of a dynamic interest rate environment, our fourth quarter earnings were solid, and we are optimistic of earnings momentum heading into the coming year,” commented Tom Cherry, President and Chief Executive Officer of C&F Financial Corporation. “Our net interest margin was down for 2024, however, it stabilized in the fourth quarter, and we are cautiously optimistic about margin performance in 2025. The community banking segment delivered solid loan and deposit growth across all markets. Despite facing headwinds from higher mortgage rates and a low inventory of homes for sale, the mortgage banking segment increased its loan production and net income over 2023. While higher charge-offs weighed on profitability at the consumer finance segment, we were able to achieve significant operational efficiencies during 2024. Despite obstacles and adversities that continually confront the banking industry in general, we believe C&F is well-positioned for the future.”

Key highlights for the fourth quarter and the year ended December 31, 2024 are as follows.

Community banking segment loans grew $21.5 million, or 6.0 percent annualized, and $180.0 million, or 14.1 percent, compared to September 30, 2024 and December 31, 2023, respectively;
Consumer finance segment loans decreased $10.5 million, or 8.8 percent annualized, and $1.7 million, or less than one percent, compared to September 30, 2024 and December 31, 2023, respectively;
Deposits increased $35.0 million, or 6.6 percent annualized, and $104.7 million, or 5.1 percent, compared to September 30, 2024 and December 31, 2023, respectively;
Consolidated annualized net interest margin was 4.13 percent for the fourth quarter of 2024 compared to 4.17 percent for the fourth quarter of 2023 and 4.13 percent in the third quarter of 2024. Consolidated net interest margin was 4.12 percent for the year ended December 31, 2024 compared to 4.31 percent for the year ended December 31, 2023;
The community banking segment recorded no provision for credit losses for the fourth quarter of 2024 and $75,000 for the fourth quarter of 2023, and recorded provision for credit losses of $1.7 million and $1.6 million for the years ended December 31, 2024 and 2023, respectively;
The consumer finance segment recorded provision for credit losses of $3.5 million and $2.4 million for the fourth quarters of 2024 and 2023, respectively, and recorded provision for credit losses of $11.6 million and $6.7 million for the years ended December 31, 2024 and 2023, respectively;
The consumer finance segment experienced net charge-offs at an annualized rate of 3.40 percent of average total loans for the fourth quarter of 2024, compared to 2.72 percent for the fourth quarter of 2023. Net charge-offs as a percentage of average total loans were 2.62 percent for the year ended December 31, 2024, compared to 1.99 percent for the year ended December 31, 2023; and
Mortgage banking segment loan originations increased $32.2 million, or 32.8 percent, to $130.4 million for the fourth quarter of 2024 compared to the fourth quarter of 2023 and increased $29.0 million, or 5.8 percent, to $527.8 million for the year ended December 31, 2024 compared to the year ended December 31, 2023.

Community Banking Segment. The community banking segment reported net income of $6.4 million for the fourth quarter of 2024, compared to $5.2 million for the same period of 2023, due primarily to:

higher interest income resulting from higher average balances of loans and the effects of higher interest rates on asset yields, offset in part by lower average balances of securities;
higher other income from bank owned life insurance policies; and
lower salaries and employee benefits expense due primarily to a reduction in headcount through attrition;

partially offset by:

higher interest expense due primarily to higher rates on deposits and higher average balances of interest-bearing deposits, offset in part by lower average balances of borrowings.

The community banking segment reported net income of $20.3 million for the year ended December 31, 2024, compared to $22.9 million for the same period of 2023, due primarily to:

higher interest expense resulting from higher rates on deposits and higher average balances of interest-bearing deposits, partially offset by lower average balances of borrowings;
higher data processing and consulting costs related to investments in operational technology to improve resilience, efficiency and customer experience;
higher occupancy expense related to branch network improvements, including the relocation of a branch and the opening of a new branch; and
higher salaries and employee benefits expense, which have generally increased in line with market conditions, offset in part by a reduction in headcount through attrition;

partially offset by:

higher interest income resulting from higher average balances of loans and the effects of higher interest rates on asset yields, offset in part by lower average balances of securities;
higher wealth management services income due primarily to higher assets under management;
higher other income from bank owned life insurance policies; and
higher investment income from other equity investments.

Average loans increased $180.8 million, or 14.4 percent, for the fourth quarter of 2024 and increased $164.0 million, or 13.5 percent, for the year ended December 31, 2024, compared to the same periods in 2023, due primarily to growth in the construction, commercial real estate, and residential mortgage segments of the loan portfolio. Average deposits increased $140.2 million, or 6.9 percent, for the fourth quarter of 2024 and increased $110.8 million, or 5.5 percent, for the year ended December 31, 2024, compared to the same periods in 2023, due primarily to higher balance of time deposits, partially offset by decreases in savings and interest-bearing demand deposits and noninterest-bearing demand deposits amid increased competition for deposits and the higher interest rate environment.

Average loan yields and average costs of interest-bearing deposits were higher for the fourth quarter and the year ended December 31, 2024, compared to the same periods of 2023, due primarily to the effects of the higher interest rate environment.

The community banking segment’s nonaccrual loans were $333,000 at December 31, 2024 compared to $406,000 at December 31, 2023. The community banking segment recorded no provision for credit losses for the fourth quarter of 2024 and $1.7 million for the year ended December 31, 2024 compared to $75,000 and $1.6 million for the same periods of 2023. At December 31, 2024, the allowance for credit losses increased to $17.4 million, compared to $16.1 million at December 31, 2023. The allowance for credit losses as a percentage of total loans decreased to 1.20 percent at December 31, 2024 from 1.26 percent at December 31, 2023. The increases in provision and allowance for credit losses are due primarily to growth in the loan portfolio. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected.

Mortgage Banking Segment. The mortgage banking segment reported net income of $87,000 and $1.1 million for the fourth quarter and year ended December 31, 2024, respectively, compared to a net loss of $103,000 and net income of $465,000 for the same periods of 2023, due primarily to:

higher gains on sales of loans and higher mortgage banking fee income due to higher volume of mortgage loan originations; and
lower occupancy expenses due to an effort to reduce overhead costs;

partially offset by:

higher variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits; and
lower reversal of provision for indemnifications.

The sustained elevated level of mortgage interest rates, combined with higher home prices and lower levels of inventory, led to a level of mortgage loan originations in 2024 and 2023 for the industry that is lower than recent historical averages. Mortgage loan originations for the mortgage banking segment were $130.4 million for the fourth quarter of 2024, comprised of $15.9 million refinancings and $114.5 million home purchases, compared to $98.2 million, comprised of $12.5 million refinancings and $85.7 million home purchases, for the same period in 2023. Mortgage loan originations for the mortgage banking segment were $527.8 million for the year ended December 31, 2024, comprised of $50.2 million refinancings and $477.6 million home purchases, compared to $498.8 million, comprised of $52.7 million refinancings and $446.1 million home purchases, for the same period in 2023. Mortgage loan originations in the fourth quarter of 2024 decreased $26.6 million compared to the third quarter of 2024 due in part to normal industry seasonal fluctuations. Mortgage loan segment originations include originations of loans sold to the community banking segment, at prices similar to those paid by third-party investors. These transactions are eliminated to reach consolidated totals.

During the fourth quarter and year ended December 31, 2024, the mortgage banking segment recorded a reversal of provision for indemnification losses of $85,000 and $460,000, respectively, compared to a reversal of provision for indemnification losses of $150,000 and $585,000 in the same periods of 2023. The mortgage banking segment increased reserves for indemnification losses during 2020 based on widespread forbearance on mortgage loans and economic uncertainty related to the COVID-19 pandemic. The release of indemnification reserves in 2024 and 2023 was due primarily to improvement in the mortgage banking segment’s assessment of borrower payment performance, lower volume of mortgage loan originations in recent years and other factors affecting expected losses on mortgage loans sold in the secondary market, such as time since origination. Management believes that the indemnification reserve is sufficient to absorb losses related to loans that have been sold in the secondary market.

Consumer Finance Segment. The consumer finance segment reported net income of $272,000 and $1.4 million for the fourth quarter and year ended December 31, 2024, respectively, compared to net income of $618,000 and $2.9 million for the same periods in 2023. The decreases in consumer finance segment net income were due primarily to:

higher provision for credit losses due primarily to increased net charge-offs; and
higher interest expense on variable rate borrowings from the community banking segment as a result of higher interest rates and higher average balances of borrowings;

partially offset by:

higher interest income resulting from the effects of higher interest rates on loan yields and higher average balances of loans;
lower salaries and employee benefits expense due to an effort to reduce overhead costs; and
lower loan processing and collection expenses due primarily to efficiency initiatives within the collections department.

Average loans increased $2.5 million, or one percent, for the fourth quarter of 2024 and increased $2.9 million, or one percent, for the year ended December 31, 2024, compared to the same periods in 2023. The consumer finance segment experienced net charge-offs at a rate of 2.62 percent of average total loans for the year ended December 31, 2024, compared to 1.99 percent for the year ended December 31, 2023, due primarily to an increase in the number of delinquent loans, the number of repossessions, and the average amount charged-off when a loan was uncollectable. Higher amounts charged-off per loan resulted in part from larger loan amounts, generally purchased in 2020 and 2021 when automobile values were higher, being charged-off in the current year, with the wholesale values of automobiles having declined since then. At December 31, 2024, total delinquent loans as a percentage of total loans was 3.90 percent, compared to 4.09 percent at December 31, 2023, and 3.49 percent at September 30, 2024.

The consumer finance segment, at times, offers payment deferrals as a portfolio management technique to achieve higher ultimate cash collections on select loan accounts. A significant reliance on deferrals as a means of managing collections may result in a lengthening of the loss confirmation period, which would increase expectations of credit losses inherent in the portfolio. Average amounts of payment deferrals of automobile loans on a monthly basis, which are not included in delinquent loans, were 2.11 percent and 1.80 percent of average automobile loans outstanding during the fourth quarter and year ended December 31, 2024, respectively, compared to 2.02 percent and 1.87 percent during the same periods during 2023. The allowance for credit losses was $22.7 million at December 31, 2024 and $23.6 million at December 31, 2023. The allowance for credit losses as a percentage of total loans decreased to 4.86 percent at December 31, 2024 from 5.03 percent at December 31, 2023, primarily as a result of growth in loans with stronger credit quality while balances of loans with lower credit quality declined. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected. If loan performance deteriorates resulting in further elevated delinquencies or net charge-offs, the provision for credit losses may increase in future periods.

Liquidity. The objective of the Corporation’s liquidity management is to ensure the continuous availability of funds to satisfy the credit needs of our customers and the demands of our depositors, creditors and investors. Uninsured deposits represent an estimate of amounts above the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000. As of December 31, 2024, the Corporation’s uninsured deposits were approximately $640.2 million, or 29.5 percent of total deposits. Excluding intercompany cash holdings and municipal deposits, which are secured with pledged securities, amounts uninsured were approximately $455.2 million, or 21.0 percent of total deposits as of December 31, 2024. The Corporation’s liquid assets, which include cash and due from banks, interest-bearing deposits at other banks and nonpledged securities available for sale, were $288.1 million and borrowing availability was $606.2 million as of December 31, 2024, which in total exceed uninsured deposits, excluding intercompany cash holdings and secured municipal deposits, by $439.1 million as of December 31, 2024.

In addition to deposits, the Corporation utilizes short-term and long-term borrowings as sources of funds. Short-term borrowings from the Federal Reserve Bank and the Federal Home loan Bank of Atlanta (FHLB) may be used to fund the Corporation’s day-to-day operations. Short-term borrowings also include securities sold under agreements to repurchase. Total borrowings increased to $122.6 million at December 31, 2024 from $109.5 million at December 31, 2023 due primarily to higher long-term borrowings from the FHLB used in part to fund loan growth.

Additional sources of liquidity available to the Corporation include cash flows from operations, loan payments and payoffs, deposit growth, maturities, calls and sales of securities and the issuance of brokered certificates of deposit.

Capital and Dividends. The Corporation declared cash dividends during the year ended December 31, 2024 totaling $1.76 per share, including a quarterly cash dividend of 44 cents per share during the fourth quarter of 2024, which was paid on January 1, 2025. These dividends represent a payout ratio of 23.5 percent of earnings per share for the fourth quarter of 2024 and 29.3 percent of earnings per share for the year ended December 31, 2024. The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital requirements, and expected future earnings.

Total consolidated equity increased $9.5 million at December 31, 2024, compared to December 31, 2023, due primarily to net income and lower unrealized losses in the market value of securities available for sale, which are recognized as a component of other comprehensive income, partially offset by share repurchases and dividends paid on the Corporation’s common stock. The Corporation’s securities available for sale are fixed income debt securities and their unrealized loss position is a result of rising market interest rates since they were purchased. The Corporation expects to recover its investments in debt securities through scheduled payments of principal and interest. Unrealized losses are not expected to affect the earnings or regulatory capital of the Corporation or C&F Bank. The accumulated other comprehensive loss related to the Corporation’s securities available for sale, net of deferred income taxes, decreased to $23.7 million at December 31, 2024 compared to $25.0 million at December 31, 2023 due primarily to fluctuations in debt security market interest rates and a decrease in the balance of securities available for sale.

As of December 31, 2024, the most recent notification from the FDIC categorized the C&F Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at December 31, 2024, C&F Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios. In addition to the regulatory risk-based capital requirements, C&F Bank must maintain a capital conservation buffer of additional capital of 2.5 percent of risk-weighted assets as required by the Basel III capital rules. The Corporation and C&F Bank exceeded these ratios at December 31, 2024. For additional information, see “Capital Ratios” below. The above mentioned ratios are not impacted by unrealized losses on securities available for sale. In the event that all of these unrealized losses became realized into earnings, the Corporation and C&F Bank would both continue to exceed minimum capital requirements, including the capital conservation buffer, and be considered well capitalized.

In December 2023, the Board of Directors authorized a program, effective January 1, 2024 through December 31, 2024, to repurchase up to $10.0 million of the Corporation’s common stock (the 2024 Repurchase Program). During the fourth quarter and year ended December 31, 2024, the Corporation repurchased 11,100 shares, or $679,000, and 160,694 shares, or $7.9 million, of its common stock under the 2024 Repurchase Program, respectively. In December 2024, the Board of Directors authorized a new program, effective January 1, 2025 through December 31, 2025, to repurchase up to $5.0 million of the Corporation’s common stock through December 31, 2025 (the 2025 Repurchase Program).

About C&F Financial Corporation. The Corporation’s common stock is listed for trading on The Nasdaq Stock Market under the symbol CFFI. The common stock closed at a price of $75.40 per share on January 27, 2025. At December 31, 2024, the book value per share of the Corporation was $70.00 and the tangible book value per share was $61.86. For more information about the Corporation’s tangible book value per share, which is not calculated in accordance with GAAP, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

C&F Bank operates 31 banking offices and four commercial loan offices located throughout eastern and central Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company provides automobile, marine and recreational vehicle loans through indirect lending programs offered primarily in the Northeastern, Midwestern and Southern United States from its headquarters in Henrico, Virginia.

Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission (SEC), are available on the Corporation’s website at http://www.cffc.com.

Use of Certain Non-GAAP Financial Measures. The accounting and reporting policies of the Corporation conform to GAAP in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of the Corporation’s performance. These include adjusted net income, adjusted earnings per share, adjusted return on average equity, adjusted return on average assets, return on average tangible common equity (ROTCE), adjusted ROTCE, tangible book value per share, price to tangible book value ratio, and the following fully-taxable equivalent (FTE) measures: interest income on loans-FTE, interest income on securities-FTE, total interest income-FTE and net interest income-FTE.

Management believes that the use of these non-GAAP measures provides meaningful information about operating performance by enhancing comparability with other financial periods, other financial institutions, and between different sources of interest income. The non-GAAP measures used by management enhance comparability by excluding the effects of balances of intangible assets, including goodwill, that vary significantly between institutions, and tax benefits that are not consistent across different opportunities for investment. These non-GAAP financial measures should not be considered an alternative to GAAP-basis financial statements, and other bank holding companies may define or calculate these or similar measures differently. A reconciliation of the non-GAAP financial measures used by the Corporation to evaluate and measure the Corporation’s performance to the most directly comparable GAAP financial measures is presented below.

Forward-Looking Statements. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the beliefs of the Corporation’s management, as well as assumptions made by, and information currently available to, the Corporation’s management, and reflect management’s current views with respect to certain events that could have an impact on the Corporation’s future financial performance. These statements, including without limitation statements made in Mr. Cherry’s quote and statements regarding future interest rates and conditions in the Corporation’s industries and markets, relate to expectations concerning matters that are not historical fact, may express “belief,” “intention,” “expectation,” “potential” and similar expressions, and may use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “might,” “will,” “intend,” “target,” “should,” “could,” or similar expressions. These statements are inherently uncertain, and there can be no assurance that the underlying assumptions will prove to be accurate. Actual results could differ materially from those anticipated or implied by such statements. Forward-looking statements in this release may include, without limitation, statements regarding expected future operations and financial performance, expected trends in yields on loans, expected future recovery of investments in debt securities, future dividend payments, deposit trends, charge-offs and delinquencies, changes in cost of funds and net interest margin and items affecting net interest margin, strategic business initiatives and the anticipated effects thereof, changes in interest rates and the effects thereof on net interest income, mortgage loan originations, expectations regarding C&F Bank’s regulatory risk-based capital requirement levels, technology initiatives, our diversified business strategy, asset quality, credit quality, adequacy of allowances for credit losses and the level of future charge-offs, market interest rates and housing inventory and resulting effects in mortgage loan origination volume, sources of liquidity, adequacy of the reserve for indemnification losses related to loans sold in the secondary market, the effect of future market and industry trends, the effects of future interest rate fluctuations, cybersecurity risks, and inflation. Factors that could have a material adverse effect on the operations and future prospects of the Corporation include, but are not limited to, changes in:

interest rates, such as volatility in short-term interest rates or yields on U.S. Treasury bonds, increases in interest rates following actions by the Federal Reserve and increases or volatility in mortgage interest rates
general business conditions, as well as conditions within the financial markets
general economic conditions, including unemployment levels, inflation rates, supply chain disruptions and slowdowns in economic growth
general market conditions, including disruptions due to pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts between Russia and Ukraine and in the Middle East) or other major events, or the prospect of these events
average loan yields and average costs of interest-bearing deposits
financial services industry conditions, including bank failures or concerns involving liquidity
labor market conditions, including attracting, hiring, training, motivating and retaining qualified employees
the legislative/regulatory climate, regulatory initiatives with respect to financial institutions, products and services, the Consumer Financial Protection Bureau (the CFPB) and the regulatory and enforcement activities of the CFPB
monetary and fiscal policies of the U.S. Government, including policies of the FDIC, U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System, and the effect of these policies on interest rates and business in our markets
demand for financial services in the Corporation’s market area
the value of securities held in the Corporation’s investment portfolios
the quality or composition of the loan portfolios and the value of the collateral securing those loans
the inventory level, demand and fluctuations in the pricing of used automobiles, including sales prices of repossessed vehicles
the level of automobile loan delinquencies or defaults and our ability to repossess automobiles securing delinquent automobile finance installment contracts
the level of net charge-offs on loans and the adequacy of our allowance for credit losses
the level of indemnification losses related to mortgage loans sold
demand for loan products
deposit flows
the strength of the Corporation’s counterparties
the availability of lines of credit from the FHLB and other counterparties
the soundness of other financial institutions and any indirect exposure related to the closing of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Corporation has commercial or deposit relationships
competition from both banks and non-banks, including competition in the non-prime automobile finance markets and marine and recreational vehicle finance markets
services provided by, or the level of the Corporation’s reliance upon third parties for key services
the commercial and residential real estate markets, including changes in property values
the demand for residential mortgages and conditions in the secondary residential mortgage loan markets
the Corporation’s technology initiatives and other strategic initiatives
the Corporation’s branch expansions and consolidations plans
cyber threats, attacks or events
C&F Bank’s product offerings
accounting principles, policies and guidelines, and elections by the Corporation thereunder

These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. For additional information on risk factors that could affect the forward-looking statements contained herein, see the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2023 and other reports filed with the SEC. The Corporation undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.


C&F Financial Corporation Selected Financial Information (dollars in thousands, except for per share data) (unaudited)

Financial Condition	12/31/2024		12/31/2023
Interest-bearing deposits in other banks	$	49,423	$	58,777
Investment securities – available for sale, at fair value		418,625		462,444
Loans held for sale, at fair value		20,112		14,176
Loans, net:
Community Banking segment		1,436,226		1,257,557
Consumer Finance segment		444,085		444,931
Total assets		2,563,385		2,438,498
Deposits		2,170,860		2,066,130
Repurchase agreements		28,994		30,705
Other borrowings		93,615		78,834
Total equity		226,970		217,516


	For The				For The
	Quarter Ended				Year Ended
Results of Operations	12/31/2024		12/31/2023		12/31/2024		12/31/2023
Interest income	$	36,443	$	32,408	$	139,594	$	124,137
Interest expense		11,343		8,466		42,819		26,430
Provision for credit losses:
Community Banking segment		–		75		1,650		1,625
Consumer Finance segment		3,500		2,400		11,600		6,650
Noninterest income:
Gains on sales of loans		1,250		850		6,064		5,780
Other		5,700		6,953		24,474		23,835
Noninterest expenses:
Salaries and employee benefits		11,953		14,035		53,578		54,876
Other		9,363		9,038		36,352		35,007
Income tax expense		1,205		1,109		4,215		5,418
Net income		6,029		5,088		19,918		23,746

Fully-taxable equivalent (FTE) amounts¹
Interest income on loans-FTE		33,122		29,147		127,288		111,146
Interest income on securities-FTE		3,046		3,121		12,079		12,710
Total interest income-FTE		36,731		32,677		140,741		125,101
Net interest income-FTE		25,388		24,211		97,922		98,671

_________________
¹For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”


	For the Quarter Ended
	12/31/2024							12/31/2023
	Average			Income/		Yield/		Average			Income/		Yield/
Yield Analysis	Balance			Expense		Rate		Balance			Expense		Rate
Assets
Securities:
Taxable	$	321,796		$	1,898	2.36	%	$	392,368		$	2,093	2.13	%
Tax-exempt		120,119			1,148	3.82			118,263			1,028	3.48
Total securities		441,915			3,046	2.76			510,631			3,121	2.44
Loans:
Community banking segment		1,438,195			20,036	5.54			1,257,418			16,813	5.30
Mortgage banking segment		30,674			486	6.30			22,288			383	6.82
Consumer finance segment		473,816			12,600	10.58			471,355			11,951	10.06
Total loans		1,942,685			33,122	6.78			1,751,061			29,147	6.60
Interest-bearing deposits in other banks		58,212			563	3.85			42,114			409	3.85
Total earning assets		2,442,812			36,731	5.98			2,303,806			32,677	5.63
Allowance for credit losses		(40,930	)						(40,614	)
Total non-earning assets		159,082							142,252
Total assets	$	2,560,964						$	2,405,444

Liabilities and Equity
Interest-bearing deposits:
Interest-bearing demand deposits	$	331,156			601	0.72		$	341,243			556	0.65
Money market deposit accounts		299,321			1,136	1.51			299,712			896	1.19
Savings accounts		176,106			26	0.06			194,476			33	0.07
Certificates of deposit		811,224			8,325	4.08			635,702			5,665	3.54
Total interest-bearing deposits		1,617,807			10,088	2.48			1,471,133			7,150	1.93
Borrowings:
Repurchase agreements		30,673			131	1.71			33,418			126	1.51
Other borrowings		93,765			1,124	4.79			98,875			1,190	4.81
Total borrowings		124,438			1,255	4.03			132,293			1,316	3.98
Total interest-bearing liabilities		1,742,245			11,343	2.59			1,603,426			8,466	2.10
Noninterest-bearing demand deposits		547,890							554,321
Other liabilities		43,379							45,462
Total liabilities		2,333,514							2,203,209
Equity		227,450							202,235
Total liabilities and equity	$	2,560,964						$	2,405,444
Net interest income				$	25,388						$	24,211
Interest rate spread						3.39	%						3.53	%
Interest expense to average earning assets						1.85	%						1.46	%
Net interest margin						4.13	%						4.17	%


	For the Year Ended
	12/31/2024							12/31/2023
	Average			Income/		Yield/		Average			Income/		Yield/
Yield Analysis	Balance			Expense		Rate		Balance			Expense		Rate
Assets
Securities:
Taxable	$	335,647		$	7,563	2.25	%	$	428,895		$	9,110	2.12	%
Tax-exempt		119,978			4,516	3.76			108,006			3,600	3.33
Total securities		455,625			12,079	2.65			536,901			12,710	2.37
Loans:
Community banking segment		1,378,131			75,707	5.49			1,214,143			62,188	5.12
Mortgage banking segment		30,737			1,897	6.17			25,598			1,695	6.62
Consumer finance segment		476,775			49,684	10.42			473,885			47,263	9.97
Total loans		1,885,643			127,288	6.75			1,713,626			111,146	6.49
Interest-bearing deposits in other banks		37,238			1,374	3.69			35,351			1,245	3.52
Total earning assets		2,378,506			140,741	5.92			2,285,878			125,101	5.47
Allowance for loan losses		(40,736	)						(41,047	)
Total non-earning assets		156,726							148,666
Total assets	$	2,494,496						$	2,393,497

Liabilities and Equity
Interest-bearing deposits:
Interest-bearing demand deposits	$	327,700			2,170	0.66		$	354,643			2,134	0.60
Money market deposit accounts		296,278			4,313	1.46			317,601			3,017	0.95
Savings accounts		180,429			111	0.06			209,033			124	0.06
Certificates of deposit		767,721			31,465	4.10			541,252			15,112	2.79
Total interest-bearing deposits		1,572,128			38,059	2.42			1,422,529			20,387	1.43
Borrowings:
Repurchase agreements		27,754			456	1.64			32,393			399	1.23
Other borrowings		91,713			4,304	4.69			116,908			5,644	4.83
Total borrowings		119,467			4,760	3.98			149,301			6,043	4.05
Total interest-bearing liabilities		1,691,595			42,819	2.53			1,571,830			26,430	1.68
Noninterest-bearing demand deposits		536,828							575,452
Other liabilities		45,217							42,954
Total liabilities		2,273,640							2,190,236
Equity		220,856							203,261
Total liabilities and equity	$	2,494,496						$	2,393,497
Net interest income				$	97,922						$	98,671
Interest rate spread						3.39	%						3.79	%
Interest expense to average earning assets						1.80	%						1.16	%
Net interest margin						4.12	%						4.31	%


	12/31/2024
Funding Sources	Capacity		Outstanding		Available
Unsecured federal funds agreements	$	75,000	$	—	$	75,000
Borrowings from FHLB		257,734		40,000		217,734
Borrowings from Federal Reserve Bank		313,499		—		313,499
Total	$	646,233	$	40,000	$	606,233


Asset Quality	12/31/2024			12/31/2023
Community Banking
Total loans	$	1,453,605		$	1,273,629
Nonaccrual loans	$	333		$	406

Allowance for credit losses (ACL)	$	17,379		$	16,072
Nonaccrual loans to total loans		0.02	%		0.03	%
ACL to total loans		1.20	%		1.26	%
ACL to nonaccrual loans		5,218.92	%		3,958.62	%
Year-to-date net charge-offs to average loans		0.01	%		0.01	%

Consumer Finance
Total loans	$	466,793		$	468,510
Nonaccrual loans	$	614		$	892
Repossessed assets	$	779		$	646
ACL	$	22,708		$	23,579
Nonaccrual loans to total loans		0.13	%		0.19	%
ACL to total loans		4.86	%		5.03	%
ACL to nonaccrual loans		3,698.37	%		2,643.39	%
Year-to-date net charge-offs to average loans		2.62	%		1.99	%


	For The						For The
	Quarter Ended						Year Ended
Other Performance Data	12/31/2024			12/31/2023			12/31/2024			12/31/2023
Net Income (Loss):
Community Banking	$	6,364		$	5,186		$	20,284		$	22,928
Mortgage Banking		87			(103	)		1,108			465
Consumer Finance		272			618			1,414			2,879
Other¹		(694	)		(613	)		(2,888	)		(2,526	)
Total	$	6,029		$	5,088		$	19,918		$	23,746

Net income attributable to C&F Financial Corporation	$	6,037		$	5,068		$	19,834		$	23,604

Earnings per share – basic and diluted	$	1.87		$	1.50		$	6.01		$	6.92
Weighted average shares outstanding – basic and diluted		3,226,999			3,367,931			3,299,574			3,411,995

Annualized return on average assets		0.94	%		0.85	%		0.80	%		0.99	%
Annualized return on average equity		10.60	%		10.06	%		9.02	%		11.68	%
Annualized return on average tangible common equity²		12.17	%		11.74	%		10.37	%		13.58	%
Dividends declared per share	$	0.44		$	0.44		$	1.76		$	1.76

Mortgage loan originations – Mortgage Banking	$	130,426		$	98,238		$	527,750		$	498,797
Mortgage loans sold – Mortgage Banking		154,552			109,387			522,001			498,852

_________________
¹ Includes results of the holding company that are not allocated to the business segments and elimination of inter-segment activity.
² For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”


Market Ratios	12/31/2024		12/31/2023
Market value per share	$	71.25	$	68.19
Book value per share	$	70.00	$	64.28
Price to book value ratio		1.02		1.06
Tangible book value per share¹	$	61.86	$	56.40
Price to tangible book value ratio¹		1.15		1.21
Price to earnings ratio (ttm)		11.86		9.87

_________________
¹ For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”



			Minimum Capital
Capital Ratios	12/31/2024	12/31/2023	Requirements³
C&F Financial Corporation¹
Total risk-based capital ratio	14.1%	14.8%	8.0%
Tier 1 risk-based capital ratio	11.9%	12.6%	6.0%
Common equity tier 1 capital ratio	10.7%	11.3%	4.5%
Tier 1 leverage ratio	9.8%	10.1%	4.0%

C&F Bank²
Total risk-based capital ratio	13.6%	14.1%	8.0%
Tier 1 risk-based capital ratio	12.3%	12.9%	6.0%
Common equity tier 1 capital ratio	12.3%	12.9%	4.5%
Tier 1 leverage ratio	10.1%	10.3%	4.0%

_________________
¹ The Corporation, a small bank holding company under applicable regulations and guidance, is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented above, along with the Corporation’s capital ratios as determined under those regulations.
² All ratios at December 31, 2024 are estimates and subject to change pending regulatory filings. All ratios at December 31, 2023 are presented as filed.
³ The ratios presented for minimum capital requirements are those to be considered adequately capitalized.


	For The Quarter Ended						For The Year Ended
	12/31/2024			12/31/2023			12/31/2024			12/31/2023
Reconciliation of Certain Non-GAAP Financial Measures
Return on Average Tangible Common Equity
Average total equity, as reported	$	227,450		$	202,235		$	220,856		$	203,261
Average goodwill		(25,191	)		(25,191	)		(25,191	)		(25,191	)
Average other intangible assets		(1,183	)		(1,439	)		(1,273	)		(1,538	)
Average noncontrolling interest		(518	)		(515	)		(649	)		(675	)
Average tangible common equity	$	200,558		$	175,090		$	193,743		$	175,857

Net income	$	6,029		$	5,088		$	19,918		$	23,746
Amortization of intangibles		64			69			260			273
Net loss (income) attributable to noncontrolling interest		8			(20	)		(84	)		(142	)
Net tangible income attributable to C&F Financial Corporation	$	6,101		$	5,137		$	20,094		$	23,877

Annualized return on average equity, as reported		10.60	%		10.06	%		12.02	%		15.58	%
Annualized return on average tangible common equity		12.17	%		11.74	%		10.37	%		13.58	%


	For The Quarter Ended				For The Year Ended
	12/31/2024		12/31/2023		12/31/2024		12/31/2023
Fully Taxable Equivalent Net Interest Income¹
Interest income on loans	$	33,075	$	29,093	$	127,089	$	110,938
FTE adjustment		47		54		199		208
FTE interest income on loans	$	33,122	$	29,147	$	127,288	$	111,146

Interest income on securities	$	2,805	$	2,906	$	11,131	$	11,954
FTE adjustment		241		215		948		756
FTE interest income on securities	$	3,046	$	3,121	$	12,079	$	12,710

Total interest income	$	36,443	$	32,408	$	139,594	$	124,137
FTE adjustment		288		269		1,147		964
FTE interest income	$	36,731	$	32,677	$	140,741	$	125,101

Net interest income	$	25,100	$	23,942	$	96,775	$	97,707
FTE adjustment		288		269		1,147		964
FTE net interest income	$	25,388	$	24,211	$	97,922	$	98,671

_________________
¹ Assuming a tax rate of 21%.


	December 31,			December 31,
*(Dollars in thousands except for per share data)*	2024			2023
Tangible Book Value Per Share
Equity attributable to C&F Financial Corporation	$	226,360		$	216,878
Goodwill		(25,191	)		(25,191	)
Other intangible assets		(1,147	)		(1,407	)
Tangible equity attributable to C&F Financial Corporation	$	200,022		$	190,280

Shares outstanding		3,233,672			3,374,098

Book value per share	$	70.00		$	64.28
Tangible book value per share	$	61.86		$	56.40

Contact:	Jason Long, CFO and Secretary
	(804) 843-2360

The MIL Network –

January 29, 2025

MIL-OSI Security: U.S. Attorney’s Office Collects $11,714,277 in Civil and Criminal Actions in Fiscal Year 2024

Source: Office of United States Attorneys

ABINGDON, Va. – Acting United States Attorney Zachary T. Lee announced today that the Western District of Virginia collected $11,714,277 in criminal and civil actions in Fiscal Year 2024. Of this amount, $3,267,062 was collected in criminal actions and $8,447,214 was collected in civil actions.

Additionally, the Western District of Virginia worked with other U.S. Attorney’s Offices and components of the Department of Justice to collect an additional $ 19,802,736 in cases pursued jointly by these offices. Of this amount, $ 19,545,011 was collected in civil actions.

“As these numbers demonstrate, the United States Attorney’s Office will use every tool to ensure that those who violate federal law do not profit from their actions,” Acting United States Attorney Zachary T. Lee said today. “My office is committed to seeking justice, both civilly and criminally, in order to protect the interests of the United States and its citizens throughout the Western District of Virginia.”

The U.S. Attorneys’ Offices, along with the department’s litigating divisions, are responsible for enforcing and collecting civil and criminal debts owed to the U.S. and criminal debts owed to federal crime victims. The law requires defendants to pay restitution to victims of certain federal crimes who have suffered a physical injury or financial loss. While restitution is paid to the victim, criminal fines and felony assessments are paid to the department’s Crime Victims Fund, which distributes the funds collected to federal and state victim compensation and victim assistance programs.

Additionally, the U.S. Attorney’s office for the Western District of Virginia, working with partner agencies and divisions, collected $ 54,015,848 in asset forfeiture actions in FY 2024. Forfeited assets deposited into the Department of Justice Assets Forfeiture Fund are used to restore funds to crime victims and for a variety of law enforcement purposes.

###

MIL Security OSI –

January 29, 2025
MIL-OSI Global: How to get control of your time

Source: The Conversation – UK – By Boróka Bó, Assistant Professor in Sociology, University College Dublin

GoodStudio/Shutterstock

You wake up at 7:00 and reflexively reach for your phone. Between the stream of emails, WhatsApps and breaking news alerts, you see a worrying reminder: you averaged 11 hours of daily screen time last week. You swipe the notification away and open TikTok, where a woman in a matching athleisure set and glossy, slicked-back ponytail urges you to “get ready with me for my 5-9 before my 9-5”.

You think about getting out of bed for a workout or meditation before you start answering those emails. But before you know it, it’s 8:57 – and if you don’t get off the apps and onto your computer, you’ll be late.

Sound familiar? Though many people have more leisure time now than in the past, paradoxically, more free time comes with increased time pressure. For many of us, it feels as if we don’t have control over our time – rather, time is controlling us. This is because our collective experience of time both comes from and governs society.

Instead of saving us time, the pace of modernity has led to many of us feeling as if our time is slipping away. And any time we “gain back”, we devote – by necessity or choice – to making more money, maybe through a side hustle. Losing control over time can have negative consequences for both physical and mental wellbeing.

Ready to make a change? The Quarter Life Glow-up is a new, six-week newsletter course from The Conversation’s UK and Canada editions.

Every week, we’ll bring you research-backed advice and tools to help improve your relationships, your career, your free time and your mental health – no supplements or skincare required. Sign up here to start your glow-up at any time.

We are trapped in a perpetual cycle of rushing to survive and consume. But consumption also takes time, so the time available to enjoy our newly acquired possessions declines. You buy a faster new computer, but then need to spend multiple, frustrating hours configuring it to your preferences.

Even trying to save time by mastering a productivity hack or reading a self-help book takes (you guessed it) time.

As time use researchers, we often grapple with an uncomfortable truth – your time is not fully yours – it belongs to us all. Time is a network good. We live in a web of time: giving, taking and sharing time with everyone around us. In other words, the decisions and actions of the people around you shape how much time you have.

This presents a catch-22. Friends, family, colleagues and even neighbours require our time, and we need theirs, too. We share time with our social network members because we need strong ties for our wellbeing. However, building lasting relationships means that we have to control our time in order to share it with others.

Unfortunately, we don’t all have the same amount of control. Socioeconomic and demographic factors – gender, financial circumstances, age, race, and where you live – all influence how you can make decisions about time. These factors shape how we can interact with others.

Are you controlling your time, or is it controlling you?
Roman Samborskyi/Shutterstock

Even seemingly mundane choices, such as how many extra minutes of sleep you give yourself in the morning, are shaped by societal expectations, power structures and economic constraints. If your job starts at 8am and your commute is two hours, it is unlikely that you can afford extra time to sleep in the mornings. If you are a parent, you might have to wake up even earlier to make sure that everyone has their breakfast and lunch packed for school.

This is why the hundreds of self-help articles telling you how to optimise your time by carefully budgeting every minute of it never manage to give you full control.

Breaking this vicious cycle starts with understanding, then practising self-compassion in the face of the demands on your time.

Get in control

Gaining control over your time starts with “why”. We don’t all have the luxury of saying no to tasks we deem unnecessary or unpleasant.

We can, however, ask ourselves why we are spending our time on certain things. Before your next decision, big or small, try asking yourself: why am I doing this?

If the answer is rooted in social pressure, outdated norms, or an obligation toward someone who does not deserve the gift of your precious time, consider how you could switch to doing something else.

Try to spend your time on activities and with people who nourish you, enriching your moments. You may not be able to completely avoid spending part of your time as your boss dictates. But understanding the larger power dynamics shaping your personal situation and your time will help you approach decisions with conscious intention, giving you greater control over this irreplaceable resource.

Regularly questioning the reason behind your actions will reveal the social patterns driving your decision-making processes. Why did you agree to do something, only to regret it later? Why are you always the one donating time to emotional labour at the office?

Consistently asking “why” creates a habit of mindfulness, and will give you the insight needed to begin to make more informed choices that reflect your true priorities. Ultimately, gaining more control over your time is not about rigidly adhering to a schedule or productivity hacks. It is impossible to subject every minute of your existence to your will – time is not yours to hold on to.

But you can make the most of the time you do have control over by making conscious decisions that align with your own desires and goals. Like one of our research participants, you may soon find yourself looking in the mirror and proclaiming: “I love time! Time lets me become!”

Boróka Bó receives funding from Enterprise Ireland. She has previously received funding from the National Science Foundation and held a Soros Fellowship.

Kamila Kolpashnikova receives funding from SSHRC (Insight Grant number: 435-2023-1060).

– ref. How to get control of your time – https://theconversation.com/how-to-get-control-of-your-time-235801

MIL OSI – Global Reports –

January 29, 2025
MIL-OSI United Kingdom: New approaches to eradicating child poverty

Source: Scottish Government

Wrap-around support delivering improved outcomes for families.

Lessons learned from innovative work with families in Inverclyde are helping deliver new approaches to eradicating child poverty.

Social Justice Secretary Shirley-Anne Somerville will visit Home-Start Renfrewshire and Inverclyde in Greenock tomorrow (Wednesday 29^th January) to see work funded under the Scottish Government’s Child Poverty Practice Accelerator Fund, which is helping to reshape services locally and elsewhere in Scotland.

The Social Justice Secretary will meet staff at the project as well as parents who have benefited from the work which focuses on providing early intervention to support families, particularly those with children under five and those affected by poor mental health.

Learning from the project is supporting Inverclyde’s Fairer Futures Partnership, which is supporting local services to test and improve how they deliver services to promote family wellbeing, maximise incomes and support people towards education and into sustained employment.

Ms Somerville said:

“Eradicating child poverty is the Scottish Government’s top priority and a national mission. 

“I’m keen to hear more about how whole family, person-centred support is being developed in Inverclyde through the Child Poverty Practice Accelerator Fund and the Fairer Futures Partnership.

“Through close partnership between Home-Start and Inverclyde Council, this project provides holistic support so that families can maximise their household incomes, and parents can improve their employment prospects through upskilling and volunteering. Putting this kind of vital support in place means that we don’t just help families in a crisis but enable them to thrive in the longer term.

“The Child Poverty Practice Accelerator Fund was set up to support local areas to test new ideas and innovate to improve local approaches to eradicating child poverty. I’m pleased to have the opportunity to learn more about how this funding is informing Inverclyde’s overall approach to supporting families out of poverty.”

Background:

The Child Poverty Practice Accelerator Fund supports local areas to test innovative approaches to eradicating child poverty, including testing new approaches to a known problem, adapting an approach from elsewhere to work in a new area, and evaluating promising approaches.

Fairer Futures Partnerships in Clackmannanshire, Dundee and Glasgow are working to ensure families get the help they need, where and when they need it. Building on these successful partnerships the programme is expanding into Aberdeen City, East Ayrshire, Inverclyde, North Ayrshire and Perth & Kinross Councils.

The Scottish Government made over £2 million available in financial year [2024/25] to these eight local authorities and their partners to deliver the programmes. 

The budget for the Partnerships has been increased budget to £6 million for next financial year [2025/26]. £2.4 million of this will be made available to the eight existing partnerships to continue the work underway, as well as exploring opportunities to expand.

MIL OSI United Kingdom –

January 29, 2025
MIL-OSI Africa: Rereading Rembrandt: how the slave trade helped establish the golden age of Dutch painting

Source: The Conversation – Africa – By Caroline Fowler, Starr Director of the Research and Academic Program, Clark Art Institute, and lecturer in Art History, Williams College

The so-called golden age of Dutch painting in the 1600s coincided with an economic boom that had a lot to do with the transatlantic slave trade. But how did the slave trade shape the art market in the Netherlands? And how is it reflected in the paintings of the time?

This is the subject of a new book called Slavery and the Invention of Dutch Art by art historian Caroline Fowler. We asked about her study.

What was Dutch art about before slavery and what was the golden age?

The earliest paintings that would be called Dutch were predominantly religious. They were made for Christian devotion. In the 1500s, major divisions in the church led to a fragmentation of Christianity called the Reformation.

In this new religious climate, artists began to create new types of paintings, studying the world around them. They included landscapes, seascapes, still lifes, and interior scenes of their homes. Instead of working for the church, many painters began to work within an art market. There was a rising middle class that could afford to buy paintings.

Duke University Press

Historically, this period in Dutch economic prosperity has been called the “golden age”. This is when many of the most famous Dutch painters worked, such as Rembrandt van Rijn and Johannes Vermeer.

Their work was made possible by a strong Dutch economy built on global trade networks. This included the transatlantic slave trade and the rise of the middle class. Although artists did not directly paint the transatlantic slave trade, in my book I argue that it is central to understanding the paintings produced in the 1600s as it made the economic market possible.

In turn, many of the types of painting that developed, like maritime scenes and interior scenes, are often obliquely or directly about international trade. The slave trade is a haunting presence in these images.

How did this play out within Dutch colonialism?

The new “middle class” consisted of economically prosperous merchants, artisans, lawyers and doctors. For many of the wealthiest merchants, their prosperity was fuelled by their investments in trade overseas. In land and plantations, and also commodities such as sugar, salt, mace and nutmeg.

Read more: Slavery, tax evasion, resistance: the story of 11 Africans in South America’s gold mines in the 1500s

Slavery was illegal within the boundaries of the Dutch Republic on the European continent. But it was widely practised within Dutch colonies around the world. Slavery was central to their trade overseas – from the inter-Asian slave network that made possible their domination in the export of nutmeg, to the use of enslaved labour on plantations in the Americas. It also contributed in less visible ways to Dutch economic prosperity, like the development of maritime insurance.

What was the relationship between artists and Dutch colonies?

In the new school of painting, artists would sometimes travel to the Dutch colonies. For example, Frans Post travelled to Dutch Brazil and painted the sugar plantations and mills. Another artist named Maria Sibylla Merian went to Dutch Suriname, where she studied butterflies and plants on the Dutch sugar plantations.

Both depict landscapes and the natural world but don’t directly engage with the profound dehumanisation of slavery, and an economic system dependent on enslaved labour. But this doesn’t mean that it’s absent in their sanitised renditions.

Among the sources that I used to think about the presence of the transatlantic slave trade in a culture that did not overtly depict it were inventories of paintings and early museum collections. Often the language in these sources differed from the painting in important ways. They demonstrate how the violence of the system emerges in unexpected places.

One inventory that describes paintings by Frans Post, for example, also narrates the physical punishment meted out if the enslaved tried to run away from the Dutch sugar plantations. This isn’t depicted in the painting, but it is part of the inventory that travelled beside the painting.

These moments reveal the profound presence of this system within Dutch painting, and point to the ways in which artists negotiated making this structure invisible in their paintings although they were not able to completely erase its presence.

How do you discuss Rembrandt’s paintings in your book?

Historically, studies of the transatlantic slave trade in early modern painting (about 1400-1700) have looked at paintings that directly depict either enslaved or Black individuals.

One of the points of this book is that this limits our understanding of the transatlantic slave trade in Dutch painting. A focus on blackness, for example, precludes understanding how whiteness is constructed at the same time. It fails to recognise the ways in which artists sought to diminish the presence of the slave trade in their sanitised rendition of Dutch society.

Syndics of the Draper’s Guild by Rembrandt. Txllxt TxllxT/Wikimedia Commons/Rijksmuseum

One painting that I use to think about this is Rembrandt van Rijn’s very famous work called Syndics of the Draper’s Guild. It’s a group portrait of wealthy, white merchants gathered around a table looking at a book of fabric samples.

Although there aren’t enslaved or black individuals depicted, this painting would be impossible without the transatlantic slave trade. Cloth from the Netherlands was often exchanged for enslaved people in west Africa, for example.

In my book, I draw attention to these understudied histories to understand how certain assumptions around whiteness, privilege, and wealth developed in tandem with an emerging visual vocabulary around blackness and the transformation of individual lives into chattel property.

What do you hope readers will take away from the book?

I hope that readers will think about how many of our ideas about freedom, the middle class, art markets, and economic prosperity began in the 17th-century Dutch Republic. As this book demonstrates, a central part of this narrative that has been overlooked was the transatlantic slave trade in building this fantasy.

This is in many ways an invention that traces back to the paintings of overt consumption and wealth produced in the Dutch Republic – like Vermeer’s interiors of Dutch homes.

Read more: How we proved a Rembrandt painting owned by the University of Pretoria was a fake

My aim with this book is to present not only a more complex view of Dutch painting but also a reconsideration of certain dogmas today around prosperity and the art market. The rise of our current financial system, art markets and visible celebration of landscapes, seascapes and interior scenes are all inseparable from the transformation of individual lives into property. We live with this legacy today in our systems built on racial, economic and gendered inequalities.

– Rereading Rembrandt: how the slave trade helped establish the golden age of Dutch painting
– https://theconversation.com/rereading-rembrandt-how-the-slave-trade-helped-establish-the-golden-age-of-dutch-painting-247918

MIL OSI Africa –

January 29, 2025
MIL-OSI Africa: Peace in Sudan: a fresh mediation effort is needed – how it could work
Source: The Conversation – Africa – By Gerrit Kurtz, Peace and Conflict Researcher, German Institute for International and Security Affairs

Intense fighting has ravaged Sudan since 15 April 2023. The war between the Sudanese Armed Forces and its erstwhile comrades-in-arms, the paramilitary Rapid Support Forces, has created one of the worst humanitarian crises in the world. Famine, displacement and mass atrocities are wreaking havoc in the country.

International mediation efforts have been lacklustre and fruitless. The United Nations security council has been preoccupied with other crises and blocked by its own divisions. The African Union has created diplomatic groups, a high-level panel and a presidential committee, none of which has been particularly active. It has been very slow in tackling the political process it wanted to lead.

The US and Saudi Arabia convened several rounds of talks, first in Jeddah, then in Switzerland. The Sudanese Armed Forces delegation failed to turn up in Switzerland. The Rapid Support Forces expressed willingness to talk peace, while simultaneously committing sexual and gender-based violence on a massive scale. The Biden administration only lately slapped sanctions on the top leaders of both forces, Abdelfattah al-Burhan and Mohamed Hamdan Dagalo (also known as Hemedti).

I have studied civil wars, mediation and peacebuilding for more than 12 years, with a focus on Sudan, including regular visits to the country and the region in the past five years. Based on this experience I have identified five reasons why mediation has failed. These are: the resistance of the conflict parties based on the dynamic nature of the war; continued military and financial aid by their external sponsors; as well as mediation attempts that were too narrow, not viewed as impartial, and lacking in coherence.

Clearly, a new approach to mediation is needed, not simply a new mediator. Turkey has recently offered to lead talks between the Sudanese Armed Forces and the United Arab Emirates, the main backer of the Rapid Support Forces, but Egypt, Kenya and several multilateral organisations also keep looking for opportunities.

Any new initiative will have to have certain components if it’s going to succeed:
- political parameters, ideally set by a parallel civilian political process, of what might come next for Sudan should guide mediators
- negotiations should take place in secret so that trust can be established
- back channel communications networks must be established with potential spoilers without ceding undue legitimacy to them
- a gender- and youth-inclusive approach
- more effective international coordination
- consistent pressure on the conflict parties and their external backers.
Why previous mediation efforts failed

Firstly, neither the Sudanese Armed Forces nor the Rapid Support Forces have shown significant willingness to stop hostilities.

The military fortunes of the two sides has waxed and waned. As long as either side feels successful militarily, they are unlikely to commit to sincere negotiations. Outright military victory leading to control of the whole territory (and its borders) remains out of reach for all.

Secondly, their respective allies have not shown any particular interest in peace.

External actors have provided military support to the warring parties, and helped finance them. The UAE is the main sponsor of the Rapid Support Forces. The Sudanese Armed Forces cooperates with Egypt, Eritrea, Iran and Russia, for arms deliveries and training. The UAE promised the US to stop supporting the Rapid Support Forces, but the arms flows continued.

Thirdly, some conflict management efforts were based on a flawed conflict analysis. There were attempts to organise a face-to-face meeting between Hemedti and Burhan, by the Intergovernmental Authority on Development and the African Union. But the war is not primarily a contest of “two generals”. Neither Hemedti nor Burhan has full control of their forces. Nor is a renewed military government acceptable to large parts of Sudan’s vibrant civil society.

Fourth, mediation efforts suffered because some of the parties saw them as lacking impartiality. Sudanese Armed Forces leaders don’t trust Kenya, whose President William Ruto is closely aligned with the UAE and has, until recently, allowed the Rapid Support Forces to conduct meetings and a press conference in Nairobi. Kenya was supposed to lead the Intergovernmental Authority on Development quartet of mediators, which never really got off the ground. Similarly, Sudan remains suspended from the African Union.

Finally, there was a competition of mediation platforms, allowing the warring parties to shop for the most convenient forum for them.

What a path to a ceasefire might look like

International attention is currently focused on Turkish president Recep Erdogan, who has offered to mediate between the Sudanese Armed Forces and the UAE. The Sudanese Armed Forces has harshly criticised the UAE for its support to the Rapid Support Forces. The offer, then, is based on the assumption the UAE might actually cease that support.

Any new approach should differ from previous efforts.
- Mediators should provide a broad sense of political parameters for a post-war (interim) order, ideally with strong input from Sudan’s civilian groups. Those could include a conditional amnesty as well as assurances of personal safety for the top military leaders and of some stake in a transitional period, without promising any blanket impunity or renewed power-sharing.
But international mediators should grant the warring parties political recognition and legitimacy only in exchange for feasible concessions.
- Negotiations should take place in secret, allowing confidential exchanges between declared enemies. This is particularly important for the Sudanese Armed Forces given the rivalry among its leadership.
- Back channel communications should be established to all actors with real constituencies in Sudan, without empowering them unnecessarily. Turkey is well-placed to reach out to senior members of the previous (Bashir) regime who have found exile there. They control large parts of the fighting forces on the side of Sudanese Armed Forces and could prove to be a major spoiler. The armed groups in the so-called “joint forces” would also need to feel somewhat included.
- Mediators should find ways to include a broad array of civilian actors, in particular women and youth groups. Instead of only targeting “men with guns”, a peace process should be gender-inclusive.
- Any lead mediator should keep other interested parties such as the EU, the UK, Norway, and the other countries and organisations already mentioned, informed and engaged.
- Pressure should be kept up by the US, UK and EU on external backers of the two main warring parties, and target both military and financial flows. Policies, including further targeted sanctions, should be as aligned as possible.
Preparing for a window of opportunity

There’s no guarantee that the violence would cease even if these conditions were met. The main belligerents are likely to continue their current offensives. The Sudanese Armed Forces will try to oust the Rapid Support Forces from central Khartoum completely. The Rapid Support Forces will keep trying to take El Fasher, the only capital in Darfur not under their control.

The impending re-capture of Khartoum by the Sudanese Armed Forces may provide an opportunity for a new round of talks, if it comes with consistent international pressure. Mediators should be ready to push for an end to the fighting.

– Peace in Sudan: a fresh mediation effort is needed – how it could work
– https://theconversation.com/peace-in-sudan-a-fresh-mediation-effort-is-needed-how-it-could-work-248330

MIL OSI Africa –
January 29, 2025
MIL-OSI Canada: The Canada-Poland Nuclear Energy Cooperation Agreement
Source: Government of Canada – Prime Minister

Canada and Poland’s relationship is steadfast, from our mutual commitment to transatlantic and energy security to our common pursuit of a more sustainable planet. Together, we stand united and determined to create a safer and more prosperous world today – and for generations to come.

Today, the Prime Minister, Justin Trudeau, concluded his trip to Warsaw, Poland, where he signed the landmark Canada-Poland Nuclear Cooperation Agreement alongside the Prime Minister of Poland, Donald Tusk.

Once in force, the Agreement will deepen ties between Canadian and Polish energy sectors, enabling Canadian companies to apply their nuclear expertise to support Poland’s energy transition and enhance energy security for Poland and the region. It will create good well-paying jobs and opportunities for people on both sides of the Atlantic, while reinforcing Canada and Poland’s shared commitment to nuclear co-operation, non-proliferation, safety, and security. This collaboration will help Poland enhance its clean energy sector and accelerate its efforts to phase out coal from its energy mix.

This Agreement complements other initiatives to strengthen Canada and Poland’s bilateral relationship, including the General Security of Information Agreement (GSOIA), which was signed earlier this month. Once implemented, the GSOIA will enhance information sharing between Canada and Poland and create business opportunities for companies in industries such as defence, security, aerospace, marine, and nuclear.

Prime Minister Trudeau also held bilateral meetings with his Polish counterparts, including Prime Minister Tusk, the President of Poland, Andrzej Duda, and the Mayor of Warsaw, Rafał Trzaskowski. As the world marks 80 years since the liberation of the Auschwitz Birkenau German Nazi Concentration and Extermination Camp, they agreed on the importance of combatting antisemitism and hate across the globe.

The leaders also reaffirmed their commitment to transatlantic security and underlined the importance of providing military, financial, humanitarian, and other support for Ukraine as it continues to defend itself against Russia’s unjustifiable war of aggression. Prime Minister Trudeau emphasized that supporting Ukraine will continue to be a priority for Canada, particularly in the context of its 2025 G7 Presidency.

Prime Minister Trudeau reiterated his thanks to the people of Poland for their hospitality during his two-day visit to the country and reaffirmed Canada’s desire to continue deepening ties with Poland in the years to come.

Quote

“By working together to advance nuclear technology, Canada and Poland are pushing innovation forward and accelerating energy security. Once in force, the newly signed Canada-Poland Nuclear Cooperation Agreement will promote Canadian innovators, create good-paying jobs, and combine Polish and Canadian expertise in the sector. It’s a testament to Canada’s commitment to building a more secure future, alongside our closest Allies.”

Quick Facts
- In 2023, the Canadian Nuclear Safety Commission and the National Atomic Energy Agency of Poland signed a Memorandum of Understanding on small modular reactors (SMR), paving the way for increased exchanges on best practices and technical reviews related to SMR technology.
- Poland does not yet generate nuclear power commercially, but it has comprehensive plans to use both large-scale and SMR nuclear technology.
- Canada expects to be the first G7 country to have the first operational SMR, the GE-Hitachi BWRX-300, by 2029. It is under active development by Ontario Power Generation at its Darlington Nuclear Station, and Poland is watching developments at Darlington closely, as it plans to deploy the same SMR technology shortly thereafter.
- In 2023, on the margins of the 28th meeting of the United Nations Climate Change Conference of the Parties in Dubai, United Arab Emirates, Canada, Poland, and over twenty other nations endorsed a statement calling for the tripling of nuclear energy capacity by 2050.
- Yesterday in Kraków, Poland, the Prime Minister announced $3.4 million in new funding to combat antisemitism, preserve Holocaust remembrance, and educate against Holocaust denial and distortion in Canada and around the world.
- Canada and Poland enjoy a close-knit and multifaceted defence partnership. Canada takes pride in being the first NATO country to have ratified Poland’s membership, in 1998. Polish troops are deployed to the Canada-led NATO Multinational Brigade in Latvia.
- Poland is Canada’s largest trading partner in Central and Eastern Europe. In 2023, bilateral merchandise trade between the two countries totalled $4.1 billion.
- The warm ties between our peoples serve as the foundation of our countries’ strong bilateral relationship. Close to one million Canadians of Polish descent call Canada home.
Associated Links

MIL OSI Canada News –
January 29, 2025
MIL-OSI USA: More Than $100M Awarded to Pro-Housing Communities
Source: US State of New York

January 28, 2025

Albany, NY
Governor Kathy Hochul today announced new investments of more than $100 million for projects located in certified Pro-Housing Communities, part of a total $123 million allocated as part of the latest round of the State’s Regional Economic Development Council initiative. Governor Hochul’s Pro-Housing Communities initiative allocates up to $650 million each year in discretionary funds for communities that pledge to modestly increase their housing supply; to date, 273 communities across New York have been certified as Pro-Housing Communities. This year, Governor Hochul is proposing an additional $110 million in funding to cover infrastructure and planning costs for Pro-Housing Communities.

“There’s only one solution to New York’s housing affordability crisis: we’ve got to build more housing,” Governor Hochul said. “The Pro-Housing Communities initiative is delivering the incentives communities are looking for, and this latest round of grant funding will make a real difference in every region of New York. We’re proud of all the certified Pro-Housing Communities in New York and look forward to seeing their continued growth.”

Empire State Development President, CEO and Commissioner Hope Knight said, “The Round XIV awards demonstrate how local priorities align with the state’s economic development goals – especially in our Pro-Housing Communities. The overwhelming response to the new Capital Improvement Grants program reflects how municipalities are eager to strengthen their foundations while addressing critical housing needs. Under Governor Hochul’s leadership, we continue to create new and dynamic opportunities to create jobs and generate sustainable and equitable growth throughout New York State.”

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Governor Hochul has been clear – municipalities who share our vision for smart housing growth will be rewarded. Through these $100 million awards announced today, Pro-Housing Communities will receive a financial boost to their efforts to upgrade infrastructure, strengthen their economies, and embark on projects that improve the quality-of-life for New Yorkers. We thank the Governor for her continued leadership and applaud our partners at the local level who are working diligently in every region of the state to find solutions to the housing shortage.”

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Regional Economic Development Council Round XIV

Round XIV of the Regional Council initiative further advanced Governor Hochul’s housing agenda by including a new program featuring funding earmarked for projects located in Pro-Housing Communities, as certified by Homes and Community Renewal (HCR). The Capital Improvement Grants for Pro-Housing Communities Program, administered by Empire State Development (ESD), made up to $40 million available to municipalities, counties and not-for-profits to support capital improvement and placemaking projects within Pro-Housing Communities. Due to an overwhelming response in applications and high demand, more than $55 million is being awarded to support these projects, reflecting the strong pro-housing commitment of the State’s municipalities.

Three other programs in Round XIV were included in the Pro-Housing Community designation: ESD’s Grants and Market New York programs, and HCR’s New York Main Street program. Additionally, more than $9 million in Excelsior Jobs Program tax credits have been awarded to support the job creation and investment goals in projects located throughout the State. In the coming weeks, more than $250 million will be awarded to Pro-Housing Communities from the Downtown Revitalization Initiative, New York Forward and Mid-Hudson Momentum Programs.

Select projects in Pro-Housing Communities from Round XIV include:

Capital Region – Schenectady Community Action Program – SCAP Campus: In partnership with DePaul Properties, Inc., SCAP will construct a building to house a new child care center, program space and administrative offices for its wide array of family support services, including employment services, supportive housing services and individual and family crisis intervention. The new site is in a New York State-designated child care desert and will provide new classrooms for comprehensive child care slots. The building is expected to be part of a larger mixed-use redevelopment that will create a one-of-a-kind campus in the City of Schenectady where housing, child care and family support services are co-located. ESD Grant – $4.975 million; Total Project Cost – $12.4 million.

Central New York – SEED Syracuse, Inc. – Chimes Building: The not-for-profit group will redevelop the Chimes Building into a mixed-use, mixed-income building. The project will create several residential units available to a mix of incomes and includes commercial space to house telecommunications tenants that serve as a fiber optic hub, providing internet access for roughly half of the City of Syracuse, including hospitals, fire departments, local businesses and residential users. ESD Grant – $1.25 million; Total Project Cost – $40.7 million.

Finger Lakes – Rochester Housing Authority – Fernwood Avenue Library & Mixed-Use Development: The project includes building a new branch of the Rochester Public Library System within a four-story, 80,000 square foot mixed-use building that includes affordable housing. The site will include 65 housing units with space for the new library to also provide support services, computer training and workforce development. Community Action Agencies will help coordinate and administer an integrated system of support services, creating new opportunities for success through targeted education and training efforts. The new building will be located on a Brownfield site. Capital Improvement for Pro-Housing Communities – $775,000; Total Project Cost – $4 million.

Long Island – Town of Riverhead – Downtown Riverfront Amphitheater: The Town will create a riverfront amphitheater and public park. Due to their location below the flood plain and increasing flood risks from climate change, the buildings will be relocated to the northern end of the property and elevated on new foundations. The southern end, with a 13-foot slope, will be converted into tiered seating with a stage and bandshell near the Peconic River. This design leverages the natural slope to protect the buildings while creating a flood barrier. The amphitheater will double as a public park, hosting activities like exercise classes, movie nights and children’s events. Capital Improvement Grant for Pro-Housing Communities – $1.4 million; Total Project Cost – $2.8 million.

Mid-Hudson – Habitat for Humanity of Dutchess County, Inc. – Taylor Ave. Development: Working in partnership with the City of Poughkeepsie, HFHDC will undertake the site preparation and construction of a mixed-use development that includes a child care center and housing units, with a portion of the units dedicated to senior and workforce housing. The project involves comprehensive site planning, modular townhouse designs, and the integration of necessary infrastructure such as roads, utilities and green spaces. ESD Grant – $1.6 million; Total Project Cost – $14.5 million.

Mohawk Valley – Municipal Housing Authority of the City of Utica (People First) – THRIVE Cornhill: This project will integrate two mixed-use buildings in the Cornhill section of Utica, offering two Community Impact Centers and several mixed-income apartments. The Impact Centers will support community-focused programs including a multipurpose gym, urban grocery, coworking space, test kitchen, entrepreneurial incubator, dance, art space and a courtyard. Capital Improvements for Pro-Housing Communities – $3 million; Total Project Cost – $17.6 million.

New York City – Brooklyn Navy Yard Development Corporation – Center for Planetary Health: The Center will establish a cutting-edge biotech innovation hub at Newlab in the Brooklyn Navy Yard. C4PH is purpose-built to accelerate the commercialization of non-therapeutic life sciences that can be applied to address climate change. The Center will be able to support over 30 companies, focusing on sectors like agriculture, textiles and building materials. ESD Grant – $1.6 million; Total Project Cost – $8 million.

North Country – Village of Massena – Raw Water Capital Project: The Village will construct a secondary raw water transmission line from the Massena Intake Dam to the water treatment plant. The new line will provide redundancy in the case of an emergency or routine maintenance, should the older main line fail. It will provide critical water service to residential, commercial, and industrial users in the Village and Town of Massena, plus Norfolk and Louisville. The line will also include new taps for the extension of raw water service to the proposed Air Products Green Hydrogen Facility. Capital Improvement Grant for Pro-Housing Communities – $2.34 million; Total Project Cost – $4.69 million.

Southern Tier – Village of Dryden – Water and Sewer Infrastructure Improvements: The Village will upgrade its water and sewer infrastructure as the first phase in having several hundred workforce apartments being built as Ezra Village in Tompkins County. The water improvements include extending water mains, and the sewer infrastructure upgrades include replacing several thousand feet of pipeline. Capital Improvements for Pro-Housing Communities – $1.82 million; Total Project Cost – $3.64 million.

Western New York – Jewish Community Center of Greater Buffalo, Inc. – Workforce Child Care Initiative: The project includes the construction of a two-story child care center on the Buffalo Niagara Medical Campus that will provide much needed service and provide specialized space for children with special needs. Partnerships within the campus like BestSelf Behavior Health and Buffalo Hearing and Speech will enable the new center to offer specialized resources and services to children in need, and a space to host these services for parents and their children. ESD Grant – $3 million; Total Project Cost – $8.2 million.

More information on the projects awarded through the 2024 Regional Economic Development Council initiative, including a full list of awardees, is available here.
There’s only one solution to New York’s housing affordability crisis: we’ve got to build more housing.”

Governor Hochul

Governor Hochul’s Housing Agenda

Today, Governor Hochul announced that 273 municipalities have been certified as Pro-Housing Communities. The Governor is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers.

As part of her 2025 State of the State, Governor Hochul proposed a bold plan to make owning and renting a home more affordable. The Governor proposed bolstering the Pro-Housing Community Program by investing $100 million to support critical housing infrastructure projects and providing $10.5 million technical assistance grants to help communities adopt pro-housing policies. The Governor also proposed creating the State’s first revolving loan fund to spur mixed-income rental development outside of New York City, as well as legislation to address rent-price fixing collusion by landlords, increase the effectiveness of State tax credits that support affordable housing development, and extending security deposit protections that market rate tenants currently have to rent-regulated tenants.

Additionally, Governor Hochul proposed new steps to make homeownership more accessible and affordable to all New Yorkers, including funding for starter home development and first-time homebuyer downpayment assistance, and disincentivizing private equity firms from buying single-family and two-family homes across the State. The State of the State also proposes increased support for supportive housing that serves some of the most vulnerable New Yorkers.

As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives for Upstate communities, new incentives and relief from certain State-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on State-owned property, an additional $600 million in funding to support a variety of housing developments statewide and new protections for renters and homeowners.

In addition, as part of the FY23 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. More than 55,000 homes have been created or preserved to date.

Embedded Flickr Album

State Senator Brian Kavanagh said, “Addressing our statewide housing shortage requires that we use all the tools we have. Today’s announcement by Governor Kathy Hochul underscores our collective commitment to fostering vibrant, sustainable communities, while incentivizing localities to be open to producing more housing. I am proud to support the State budget that makes these funds available and I commend the Governor, Housing Commissioner RuthAnne Visnauskas, and their colleagues in the administration for effectively implementing and growing the Pro-Housing initiative.”

State Senator Sean Ryan said, “New York’s housing affordability crisis is a problem we can solve, but it’s going to require creative ideas and consistent support for a wide range of programs to deal with this problem’s many causes. I thank Governor Hochul for her commitment to meeting this challenge, and I look forward to continuing to work together to implement solutions that address the unique problems facing Upstate communities.”

Assemblymember Linda B. Rosenthal said, “Communities in every region of the state need to step up to the plate to build a more affordable New York. With the latest round of funding awarded by the Regional Economic Development Council, public housing authorities and non-profit organizations will be able to create much-needed affordable housing for those who are struggling to stay financially afloat in the Empire State. As we look toward the start of another budget season, I am once again committed to fighting for every available cent to build and preserve our state’s affordable housing stock. I applaud the Governor’s tenacity in addressing the housing crisis and her continued partnership on this critical issue.”

Assemblymember Al Stirpe said, “Today’s announcement of ESD Round XIV grants truly benefits the Pro-Housing Communities as well as addresses critical needs throughout the state. Here in Central New York, SEED Syracuse, Inc. received funding for their project creating mixed income housing and commercial space in the City of Syracuse by redeveloping an iconic 1929 office building. Funding local projects in Pro-Housing Communities strengthens the fundamental economic base in these municipalities. Whether it is supporting child care, water infrastructure, innovative technologies, or libraries, all contribute to enhancing the daily lives of New Yorkers and the health of their neighborhoods and the region. Governor Hochul has taken the lead to address the state’s housing needs while, at the same time, reinforcing job creation and a spectrum of economic development opportunities.”

Assemblymember Angelo Santabarbara said, “This initiative is about more than housing—it’s about creating opportunity and building a foundation for families to thrive. Growing up in the City of Schenectady, I saw how challenging it was for families like mine to get by without the resources we’re now able to provide. Investments like these in affordable housing, child care, and support services give families the tools they need to build a brighter future. I’m grateful for the collaboration and shared vision that made this possible, and I look forward to seeing how these projects transform our communities for generations to come.”
MIL OSI USA News –
January 29, 2025
MIL-OSI Global: Rereading Rembrandt: how the slave trade helped establish the golden age of Dutch painting

Source: The Conversation – Africa – By Caroline Fowler, Starr Director of the Research and Academic Program, Clark Art Institute, and lecturer in Art History, Williams College

Detail from Rembrandt van Rijn’s painting Two African Men. Sailko/The Mauritshuis/Wikimedia Commons, CC BY

The so-called golden age of Dutch painting in the 1600s coincided with an economic boom that had a lot to do with the transatlantic slave trade. But how did the slave trade shape the art market in the Netherlands? And how is it reflected in the paintings of the time?

This is the subject of a new book called Slavery and the Invention of Dutch Art by art historian Caroline Fowler. We asked about her study.

What was Dutch art about before slavery and what was the golden age?

The earliest paintings that would be called Dutch were predominantly religious. They were made for Christian devotion. In the 1500s, major divisions in the church led to a fragmentation of Christianity called the Reformation.

In this new religious climate, artists began to create new types of paintings, studying the world around them. They included landscapes, seascapes, still lifes, and interior scenes of their homes. Instead of working for the church, many painters began to work within an art market. There was a rising middle class that could afford to buy paintings.

Historically, this period in Dutch economic prosperity has been called the “golden age”. This is when many of the most famous Dutch painters worked, such as Rembrandt van Rijn and Johannes Vermeer.

Their work was made possible by a strong Dutch economy built on global trade networks. This included the transatlantic slave trade and the rise of the middle class. Although artists did not directly paint the transatlantic slave trade, in my book I argue that it is central to understanding the paintings produced in the 1600s as it made the economic market possible.

In turn, many of the types of painting that developed, like maritime scenes and interior scenes, are often obliquely or directly about international trade. The slave trade is a haunting presence in these images.

How did this play out within Dutch colonialism?

The new “middle class” consisted of economically prosperous merchants, artisans, lawyers and doctors. For many of the wealthiest merchants, their prosperity was fuelled by their investments in trade overseas. In land and plantations, and also commodities such as sugar, salt, mace and nutmeg.

Read more:
Slavery, tax evasion, resistance: the story of 11 Africans in South America’s gold mines in the 1500s

Slavery was illegal within the boundaries of the Dutch Republic on the European continent. But it was widely practised within Dutch colonies around the world. Slavery was central to their trade overseas – from the inter-Asian slave network that made possible their domination in the export of nutmeg, to the use of enslaved labour on plantations in the Americas. It also contributed in less visible ways to Dutch economic prosperity, like the development of maritime insurance.

What was the relationship between artists and Dutch colonies?

In the new school of painting, artists would sometimes travel to the Dutch colonies. For example, Frans Post travelled to Dutch Brazil and painted the sugar plantations and mills. Another artist named Maria Sibylla Merian went to Dutch Suriname, where she studied butterflies and plants on the Dutch sugar plantations.

Both depict landscapes and the natural world but don’t directly engage with the profound dehumanisation of slavery, and an economic system dependent on enslaved labour. But this doesn’t mean that it’s absent in their sanitised renditions.

Among the sources that I used to think about the presence of the transatlantic slave trade in a culture that did not overtly depict it were inventories of paintings and early museum collections. Often the language in these sources differed from the painting in important ways. They demonstrate how the violence of the system emerges in unexpected places.

One inventory that describes paintings by Frans Post, for example, also narrates the physical punishment meted out if the enslaved tried to run away from the Dutch sugar plantations. This isn’t depicted in the painting, but it is part of the inventory that travelled beside the painting.

These moments reveal the profound presence of this system within Dutch painting, and point to the ways in which artists negotiated making this structure invisible in their paintings although they were not able to completely erase its presence.

How do you discuss Rembrandt’s paintings in your book?

Historically, studies of the transatlantic slave trade in early modern painting (about 1400-1700) have looked at paintings that directly depict either enslaved or Black individuals.

One of the points of this book is that this limits our understanding of the transatlantic slave trade in Dutch painting. A focus on blackness, for example, precludes understanding how whiteness is constructed at the same time. It fails to recognise the ways in which artists sought to diminish the presence of the slave trade in their sanitised rendition of Dutch society.

One painting that I use to think about this is Rembrandt van Rijn’s very famous work called Syndics of the Draper’s Guild. It’s a group portrait of wealthy, white merchants gathered around a table looking at a book of fabric samples.

Although there aren’t enslaved or black individuals depicted, this painting would be impossible without the transatlantic slave trade. Cloth from the Netherlands was often exchanged for enslaved people in west Africa, for example.

In my book, I draw attention to these understudied histories to understand how certain assumptions around whiteness, privilege, and wealth developed in tandem with an emerging visual vocabulary around blackness and the transformation of individual lives into chattel property.

What do you hope readers will take away from the book?

I hope that readers will think about how many of our ideas about freedom, the middle class, art markets, and economic prosperity began in the 17th-century Dutch Republic. As this book demonstrates, a central part of this narrative that has been overlooked was the transatlantic slave trade in building this fantasy.

This is in many ways an invention that traces back to the paintings of overt consumption and wealth produced in the Dutch Republic – like Vermeer’s interiors of Dutch homes.

Read more:
How we proved a Rembrandt painting owned by the University of Pretoria was a fake

My aim with this book is to present not only a more complex view of Dutch painting but also a reconsideration of certain dogmas today around prosperity and the art market. The rise of our current financial system, art markets and visible celebration of landscapes, seascapes and interior scenes are all inseparable from the transformation of individual lives into property. We live with this legacy today in our systems built on racial, economic and gendered inequalities.

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

– ref. Rereading Rembrandt: how the slave trade helped establish the golden age of Dutch painting – https://theconversation.com/rereading-rembrandt-how-the-slave-trade-helped-establish-the-golden-age-of-dutch-painting-247918

MIL OSI – Global Reports –

January 29, 2025
MIL-OSI USA: King Cosponsors Bipartisan Bill to Increase Price Transparency on Prescription Drug Advertising

US Senate News:

Source: United States Senator for Maine Angus King
WASHINGTON, D.C. — U.S. Senator Angus King (I-ME) is cosponsoring legislation to promote transparency, boost competition, and bring down the cost of prescription drugs. The bipartisan Drug-Price Transparency for Consumers (DTC) Act would require price disclosures on advertisements for prescription drugs in order to inform patients who are considering certain medications after seeing television commercials. By requiring direct-to-consumer (DTC) advertisements for prescription drugs to include a disclosure of the list price, patients can make informed choices when inundated with drug commercials and pharmaceutical companies may reconsider their pricing and advertising tactics.
Each year, the pharmaceutical industry spends $6 billion in DTC drug advertising to fill the airwaves with ads, resulting in the average American seeing nine DTC ads each day. Studies show that these commercials often steer patients to more expensive drugs, even when a patient may not need the medication or a lower-cost generic is available. Studies show that patients are more likely to ask their doctor, and ultimately receive a prescription, for a specific drug when they have seen ads for it. For these reasons, most countries have banned DTC prescription drug advertising — the United States and New Zealand are the only industrialized nations that allow these ads.
“Current advertisement practices in the pharmaceutical industry allow drug companies to unfairly inflate the efficacy of their products while concealing their exorbitant prices,” said Senator King. “The Drug-Price Transparency for Consumers (DTC) Act would ensure that Maine people have more transparency, choice, and competition in the prescription drug marketplace. I want to thank my colleagues on both sides of the aisle for putting Americans first above the profits of big pharma.”
The Government Accountability Office (GAO) has found that prescription drugs advertised directly to consumers accounted for more than half of Medicare’s spending on drugs between 2016 and 2018, while a 2023 study in the Journal of the American Medical Association found that two-thirds of advertised drugs offered “low therapeutic value.” Additionally, a Kaiser survey found that 88 percent of Americans support this price disclosure policy for advertisements.
Below are some key findings from the GAO report:
Two-thirds of pharma’s spending between 2016 and 2018 on DTC ads ($12 billion out of $18 billion total) was concentrated on just 39 drugs.
During this period, these advertised drugs accounted for 58 percent of Medicare’s spending on drugs ($320 billion out of $560 billion).
Among the top 10 drugs with the highest cost to Medicare, four were also in the top 10 for advertising spending (Humira, Eliquis, Keytruda, Lyrica).
Joining King on this bill are Senators Dick Durbin (D-IL), Chuck Grassley (R-IA), Joni Ernst (R-IA), Tina Smith (D-MN), Peter Welch (D-VT), Richard Blumenthal (D-CT), and Tammy Baldwin (D-WI).
Senator King has consistently worked to lower healthcare costs and increase transparency for Maine people. Last year, he introduced bicameral legislation to prohibit direct-to-consumer drug advertising of pharmaceutical drugs in the first three years after the drug receives Federal Drug Administration (FDA) approval. Senator King also cosponsored the Health Care Affordability Act which permanently extends enhanced Premium Tax Credits (PTCs) — tax subsidies that increase the amount of financial assistance available to people buying their own health insurance. Additionally, Senator King has introduced legislation to prohibit pharmaceutical drug manufacturers from claiming tax deductions for consumer advertising expenses.

MIL OSI USA News –

January 29, 2025
MIL-OSI Global: Peace in Sudan: a fresh mediation effort is needed – how it could work
Source: The Conversation – Africa – By Gerrit Kurtz, Peace and Conflict Researcher, German Institute for International and Security Affairs

Intense fighting has ravaged Sudan since 15 April 2023. The war between the Sudanese Armed Forces and its erstwhile comrades-in-arms, the paramilitary Rapid Support Forces, has created one of the worst humanitarian crises in the world. Famine, displacement and mass atrocities are wreaking havoc in the country.

International mediation efforts have been lacklustre and fruitless. The United Nations security council has been preoccupied with other crises and blocked by its own divisions. The African Union has created diplomatic groups, a high-level panel and a presidential committee, none of which has been particularly active. It has been very slow in tackling the political process it wanted to lead.

The US and Saudi Arabia convened several rounds of talks, first in Jeddah, then in Switzerland. The Sudanese Armed Forces delegation failed to turn up in Switzerland. The Rapid Support Forces expressed willingness to talk peace, while simultaneously committing sexual and gender-based violence on a massive scale. The Biden administration only lately slapped sanctions on the top leaders of both forces, Abdelfattah al-Burhan and Mohamed Hamdan Dagalo (also known as Hemedti).

I have studied civil wars, mediation and peacebuilding for more than 12 years, with a focus on Sudan, including regular visits to the country and the region in the past five years. Based on this experience I have identified five reasons why mediation has failed. These are: the resistance of the conflict parties based on the dynamic nature of the war; continued military and financial aid by their external sponsors; as well as mediation attempts that were too narrow, not viewed as impartial, and lacking in coherence.

Clearly, a new approach to mediation is needed, not simply a new mediator. Turkey has recently offered to lead talks between the Sudanese Armed Forces and the United Arab Emirates, the main backer of the Rapid Support Forces, but Egypt, Kenya and several multilateral organisations also keep looking for opportunities.

Any new initiative will have to have certain components if it’s going to succeed:
- political parameters, ideally set by a parallel civilian political process, of what might come next for Sudan should guide mediators
- negotiations should take place in secret so that trust can be established
- back channel communications networks must be established with potential spoilers without ceding undue legitimacy to them
- a gender- and youth-inclusive approach
- more effective international coordination
- consistent pressure on the conflict parties and their external backers.
Why previous mediation efforts failed

Firstly, neither the Sudanese Armed Forces nor the Rapid Support Forces have shown significant willingness to stop hostilities.

The military fortunes of the two sides has waxed and waned. As long as either side feels successful militarily, they are unlikely to commit to sincere negotiations. Outright military victory leading to control of the whole territory (and its borders) remains out of reach for all.

Secondly, their respective allies have not shown any particular interest in peace.

External actors have provided military support to the warring parties, and helped finance them. The UAE is the main sponsor of the Rapid Support Forces. The Sudanese Armed Forces cooperates with Egypt, Eritrea, Iran and Russia, for arms deliveries and training. The UAE promised the US to stop supporting the Rapid Support Forces, but the arms flows continued.

Thirdly, some conflict management efforts were based on a flawed conflict analysis. There were attempts to organise a face-to-face meeting between Hemedti and Burhan, by the Intergovernmental Authority on Development and the African Union. But the war is not primarily a contest of “two generals”. Neither Hemedti nor Burhan has full control of their forces. Nor is a renewed military government acceptable to large parts of Sudan’s vibrant civil society.

Fourth, mediation efforts suffered because some of the parties saw them as lacking impartiality. Sudanese Armed Forces leaders don’t trust Kenya, whose President William Ruto is closely aligned with the UAE and has, until recently, allowed the Rapid Support Forces to conduct meetings and a press conference in Nairobi. Kenya was supposed to lead the Intergovernmental Authority on Development quartet of mediators, which never really got off the ground. Similarly, Sudan remains suspended from the African Union.

Finally, there was a competition of mediation platforms, allowing the warring parties to shop for the most convenient forum for them.

What a path to a ceasefire might look like

International attention is currently focused on Turkish president Recep Erdogan, who has offered to mediate between the Sudanese Armed Forces and the UAE. The Sudanese Armed Forces has harshly criticised the UAE for its support to the Rapid Support Forces. The offer, then, is based on the assumption the UAE might actually cease that support.

Any new approach should differ from previous efforts.
- Mediators should provide a broad sense of political parameters for a post-war (interim) order, ideally with strong input from Sudan’s civilian groups. Those could include a conditional amnesty as well as assurances of personal safety for the top military leaders and of some stake in a transitional period, without promising any blanket impunity or renewed power-sharing.
But international mediators should grant the warring parties political recognition and legitimacy only in exchange for feasible concessions.
- Negotiations should take place in secret, allowing confidential exchanges between declared enemies. This is particularly important for the Sudanese Armed Forces given the rivalry among its leadership.
- Back channel communications should be established to all actors with real constituencies in Sudan, without empowering them unnecessarily. Turkey is well-placed to reach out to senior members of the previous (Bashir) regime who have found exile there. They control large parts of the fighting forces on the side of Sudanese Armed Forces and could prove to be a major spoiler. The armed groups in the so-called “joint forces” would also need to feel somewhat included.
- Mediators should find ways to include a broad array of civilian actors, in particular women and youth groups. Instead of only targeting “men with guns”, a peace process should be gender-inclusive.
- Any lead mediator should keep other interested parties such as the EU, the UK, Norway, and the other countries and organisations already mentioned, informed and engaged.
- Pressure should be kept up by the US, UK and EU on external backers of the two main warring parties, and target both military and financial flows. Policies, including further targeted sanctions, should be as aligned as possible.
Preparing for a window of opportunity

There’s no guarantee that the violence would cease even if these conditions were met. The main belligerents are likely to continue their current offensives. The Sudanese Armed Forces will try to oust the Rapid Support Forces from central Khartoum completely. The Rapid Support Forces will keep trying to take El Fasher, the only capital in Darfur not under their control.

The impending re-capture of Khartoum by the Sudanese Armed Forces may provide an opportunity for a new round of talks, if it comes with consistent international pressure. Mediators should be ready to push for an end to the fighting.

Gerrit Kurtz is also a non-resident fellow with the Global Public Policy Institute and a member of the Forum New Security Policy of the Heinrich Böll Foundation.

– ref. Peace in Sudan: a fresh mediation effort is needed – how it could work – https://theconversation.com/peace-in-sudan-a-fresh-mediation-effort-is-needed-how-it-could-work-248330
MIL OSI – Global Reports –
January 29, 2025
MIL-OSI Global: The US stock market does better under Democrat presidents than Republicans – here’s what the data shows

Source: The Conversation – UK – By Paul Whiteley, Professor, Department of Government, University of Essex

The US has been experiencing a long “bull” stock market, that is rapid growth in stock prices, although this week tech stocks tumbled over the future prospects for US-built AI.

But could the market hit a significant downturn during Trump’s second term in the White House? At first sight this seems unlikely because it did well during his first term, from 2016 to 2020 (see chart below). However, long term trends in the US stock market reveal a pattern suggesting that stock prices might be quite vulnerable during his second term.

The Nobel prize-winning economist, Robert Shiller, who studies financial markets thinks that the US stock market has peaked, and future returns will be much more modest than in recent history although he does not suggest that a crash is on the horizon.

The market under different presidents

Shiller’s data makes it possible to look at the relationship between who is the president and stock prices since 1925. By examining the performance of the stock market over that period we can identify the extent to which eight Democrat and nine Republican presidents have influenced the growth of the market.

Changes in stock prices during Republican presidents 1925 to 2024:

The chart shows the percentage changes in the Standard and Poor’s monthly stock price index (which gives a snapshot of the market), corrected for inflation, during the incumbencies of Republican presidents since January 1925.

The average increase in stock prices for Republican presidents was 25%. But the thing that stands out in the chart is that three major crashes in the stock market also took place under these Republicans incumbents.

The first of these, known as the Wall Street Crash, occurred on October 28 1929 when Herbert Hoover was president. This was the trigger event for the Great Depression of the 1930s and resulted in a fall of 64% in the stock market during his presidency.

His reaction to the crash (when share values fell dramatically) was to do nothing in the belief that the economy would eventually recover on its own. This cost him the 1932 presidential election when Democrat Franklin D. Roosevelt was elected for the first time. He was subsequently elected a record four times, thanks to his New Deal policies for dealing with the crisis.

Read more:
DeepSeek: how a small Chinese AI company is shaking up US tech heavyweights

The second crash occurred during Richard Nixon’s incumbency. He would have been impeached by Congress had he not resigned in August 1974 following the revelations of the Watergate scandal.

This occurred when the White House employed burglars to break into the Democrat party headquarters in the Watergate building in Washington DC. Once Nixon’s attempt to spy on his opponents became public he was forced to resign and overall the stock market fell by 47% during his incumbency.

The third crash occurred in December 2007 when George W Bush was the president. It had its origins in the deregulation of the financial sector which had occurred in the US after Ronald Reagan became president in 1980. Lax financial regulations led to ever increasingly risky assets and trading practices on Wall Street starting in the real estate market.

US stock market opens.

The crisis spread rapidly throughout the world’s financial system and a recession of the scale of the 1930s was only averted by prompt action by the Federal Reserve chairman, Ben Bernanke, who worked with political leaders in other countries such as UK prime minister Gordon Brown to stabilise the system. The stock market fell by 45% during Bush’s period of office.

Many factors are at work to explain this, but the overriding fact is that Republicans are less likely to regulate the financial sector, or across the board, than Democrats. Their voters are more likely to be optimistic about the prospects for the economy, and therefore to take risks when investing in the stock market, when a Republican is in the White House.

Changes in stock prices during Democratic presidents 1925 to 2024:

The second chart shows changes in stock prices during the incumbencies of eight Democratic presidents during this period. It is very different from the Republican chart, since, of those presidents shown, only Jimmy Carter left office with the stock market lower than when he arrived, and that by a modest 13%.

Bill Clinton was the most successful president, achieving an increase of 151% during his two terms in the White House. Overall, the stock market rose by an average of 51% during Democrat incumbencies, more than twice the size of the Republican increases.

These results are surprising given that the Republicans are the traditional party of big business and so might be expected to be good for the stock market.

Donald Trump has promised to increase tariffs on imports from the rest of the world, particularly those from China. In addition, there is a burgeoning budget deficit caused by the gap between spending and taxation.

Most economists think these policies will create inflation and slow growth.

Many investors are currently quite nervous about a possible recession after the long bull market of the last few years. The drop in the price of tech stocks this week confirms this. One effect of this has been to cause a rise in yields on US Treasury long-term bonds, reflecting fears of further inflation.

Recent comparative research shows that countries can pay a high price for populist economic policies. So, it would be well worth Trump studying the history of US stock markets rises and falls, if he wants to avoid a severe economic downturn during his second term.

Paul Whiteley has received funding from the British Academy and the ESRC.

– ref. The US stock market does better under Democrat presidents than Republicans – here’s what the data shows – https://theconversation.com/the-us-stock-market-does-better-under-democrat-presidents-than-republicans-heres-what-the-data-shows-246652

MIL OSI – Global Reports –

January 29, 2025
MIL-OSI Global: What the looming federal election could mean for the Bank of Canada’s independence

Source: The Conversation – Canada – By Andrew Allison, Philosophy PhD Student, University of Calgary

The independence of central banks from the democratic process has been a bedrock of economic policy for decades. The Bank of Canada is no exception, maintaining distance from elected officials to ensure monetary policy is free from political pressures.

However, a clear division between central bank and government could be tested with Mark Carney, former governor of both the Bank of Canada and the Bank of England who’s running for leadership of the Liberal Party and, in turn, the role of prime minister.

Read more:
Mark Carney might have the edge as potential Liberal leader, but still faces major obstacles

His bid raises concerns about how central bank independence might be perceived under a Carney-led government. Could his tenure as a central banker result in the Bank of Canada’s independence being clawed back? After all, he has demonstrated his ability to manage monetary policy at the highest levels.

The answer, if we want to preserve the economic benefits of central bank independence, is clear: the Bank of Canada’s independence must be preserved. And Carney, who has championed the importance of politically neutral monetary policy, would likely agree.

Incentives, not ignorance

The idea that central banks should operate independently of the democratic process is a widely held view among economists and central bankers. This is largely because there is an extremely low likelihood of elected officials committing to implement monetary policy that produces low inflation and stable prices.

If elected officials controlled monetary policy, incumbent governments would be tempted to “juice” the economy with “loose money” by reducing the interest rates right before elections.

In the short run, this would reduce unemployment, raise wages and potentially boost the chances of incumbent governments being re-elected. But, in the long run, citizens would pay the price in the form of inflation.

With repeated political interference, market entities would no longer react to injections of loose-money by investing in capital and labour and low interest rates would no longer produce the desired short-term benefits of more jobs and higher wages. But inflation would still persist. As economist Garrett Jones puts it, it would be “all hangover, no buzz.”

Empirical evidence bears this out. Central banks that with greater independence tend to have more price stability and less inflation.

This is why governments delegate monetary policy to independent central banks. Central bankers are able to implement monetary policy without the temptation to manipulate the economy for electoral gain.

It’s worth noting that the need for central bank independence is not exclusively due to politicians’ ignorance about managing monetary policy. Rather, it’s because the electoral incentives they face prevents them from being trusted to pull the levers of monetary power effectively.

This principle applies even to someone like Carney. If he were to become prime minister, he would face the same incentives as all other incumbent governments. Despite his expertise, he would still need independent central bankers to ensure monetary policy remains insulated from the political cycle.

Central bank independence in Canada

Central bank independence is not a binary, but exists on a spectrum. When studying the effects of independence, central banks are usually scored on a number of indicators, including whether central bankers can be fired by elected officials, how long central bankers’ terms are, and the extent to which they can be instructed by democratically elected bodies.

Widespread support for central bank independence among economists only began in the mid-1980s. Prior to that, central banks often gained their independence due to political and legal circumstances, rather then a deliberate attempt to adhere to a principle of independence. Both the Federal Reserve and the Bank of Canada have this in common.

The independence of the Bank of Canada had a tumultuous 25 years after its establishment in 1935. When pressed, finance ministers could not answer whether they or the Bank of Canada were ultimately responsible for the country’s monetary policy, often giving conflicting answers.

It would not be until 1961 that this uncertainty would come to a head during the Coyne Affair. Prime Minister John Diefenbaker wanted James Coyne, governor of the Bank of Canada at the time, fired for embarrassing his government and taking a hefty pension. The House of Commons passed a one-line bill that fired Coyne, but the Senate refused to pass it. Coyne resigned the next day.

After the Coyne Affair, central bank independence grew into the de facto status quo. In 1985, the Bank of Canada Act was passed, setting some limits on the power of the governor and their responsibility to the finance minister. As a result, Canada’s central bank independence falls somewhere in the middle of the spectrum compared to other wealthy, western nations.

Carney on central bank independence

In 2022, Conservative Party leader Pierre Poilievre threatened to fire the governor of the Bank of Canada, Tiff Macklem, if he became prime minister.

While the Bank of Canada Act does permit this through a formal procedure, setting the precedent that cabinets can and will fire governors could undermine central bank independence. It would risk making central bankers more beholden to the political aims of incumbent governments and more likely to produce inflationary monetary policy.

Compared to Poilievre, Carney is the conservative choice, likely aiming to maintain the status quo by leaving central bankers alone. During and after his time as a central banker, Carney has favoured central bank independence. And, as it stands, it doesn’t appear that he’s changed his mind now that he’s running for Liberal leader.

So, what would a Carney government mean for the Bank of Canada’s independence? Likely, not much — and from a monetary economic perspective, that’s a good thing. Preserving the status quo would ensure the Bank of Canada remains insulated from political interference, allowing it to focus on long-term price stability.

Andrew Allison receives funding from the Social Sciences and Humanities Research Council.

– ref. What the looming federal election could mean for the Bank of Canada’s independence – https://theconversation.com/what-the-looming-federal-election-could-mean-for-the-bank-of-canadas-independence-247886

MIL OSI – Global Reports –

January 29, 2025
MIL-OSI United Nations: Israel UNRWA ban will undermine Gaza ceasefire, Security Council hears

Source: United Nations 4

28 January 2025 Peace and Security

The implementation of new laws banning the UN Palestine refugee agency, UNRWA – set to take effect on Thursday – will heighten instability and deepen despair in the occupied Palestinian territory, the Security Council has heard.

Briefing ambassadors in New York on Tuesday, UNRWA Commissioner-General Philippe Lazzarini warned that the laws passed in October last year jeopardize the lives of millions of Palestinians and risks undermining the fragile ceasefire in Gaza.

They require that UNRWA cease its activities in the territory of the State of Israel – including the occupied West Bank, Gaza and East Jerusalem as the Knesset defines it, in defiance of international law – as well as restricting any Government contacts with the agency or anyone acting on its behalf.

“Curtailing our operations now – outside a political process, and when trust in the international community is so low – will undermine the ceasefire. It will sabotage Gaza’s recovery and political transition,” Mr. Lazzarini said.

He called for a “decisive intervention” by Council to support peace and stability in the occupied Palestinian territory and the broader region.

Disastrous consequences

Mr. Lazzarini further stressed that the full implementation of the Knesset legislation will be “disastrous”.

In Gaza, undermining UNRWA’s operations would compromise the international humanitarian response, he said, adding that it would also degrade the capacity of the United Nations just when humanitarian assistance must be scaled up.

“This will only worsen the already catastrophic living conditions of millions of Palestinians.”

UN Photo/Manuel Elías

Philippe Lazzarini, Commissioner-General of UNRWA, briefs the Security Council.

Unique role

UNRWA was established by the UN General Assembly to provide humanitarian and other essential services to Palestine refugees until a political solution is reached. Read our explainer on how the Gaza war has impacted UNRWA services, here.

Mr. Lazzarini emphasised that its work cannot simply be transferred to other entities, as its scale and trusted relationship with communities are unmatched.

“The Agency’s mere presence brings stability amid profound uncertainty,” he said. “Undermining UNRWA will sabotage Gaza’s recovery and any prospects for peace.”

In East Jerusalem, where the Knesset legislation calls for the immediate expulsion of UNRWA, 70,000 patients and 1,000 students will lose access to health and education services.

Mr. Lazzarini also noted that the legislation coincides with plans to expand illegal settlements on the land currently used by the Agency.

Financial and political challenges

Compounding these threats are severe financial constraints, with key donors reducing or suspending contributions.

Mr. Lazzarini appealed for urgent funding to sustain UNRWA’s operations, warning that its lifesaving work could abruptly end without sufficient resources.

He also highlighted a disinformation campaign spearheaded by Israeli authorities that falsely accuses the Agency of supporting terrorism. Such propaganda, he said, undermines UNRWA’s neutrality and puts its staff at risk.

Call to action

In conclusion, Mr. Lazzarini urged Security Council members to push back against the Knesset legislation, ensure continued funding for UNRWA, and advocate for a genuine political pathway to address the plight of Palestine refugees.

“UNRWA was always meant to be temporary,” he said.

“A fair and lasting political solution would allow the Agency to conclude its mandate, ensuring that its vital services are handed over to a functioning Palestinian state.”

More updates to come…

MIL OSI United Nations News –

January 29, 2025
MIL-OSI Africa: Revisiting the Africa-Paris Declaration: Progress, Challenges and the Road Ahead for African Energy

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

PARIS, France, January 28, 2025/APO Group/ —

The Africa-Paris Declaration, forged during the 2024 Invest in African Energy (IAE) Forum in Paris, was a pivotal moment in Africa’s quest for sustainable energy solutions. Aimed at strengthening the continent’s energy transition while addressing the urgent issue of energy poverty, the declaration set ambitious targets for expanding access to clean, affordable and reliable energy. With the 2025 edition of the forum approaching, now is the time to reflect on the progress made since the Africa-Paris Declaration and assess how these initiatives are shaping Africa’s energy future.

Increased Engagement in Africa

In the months following the declaration, international investors, development banks and private equity firms have shown a steadfast interest in the African energy market. A key milestone was the launch of the Africa Energy Bank by the African Export-Import Bank and APPO, marking the creation of a first-of-its-kind institution designed to fund and facilitate energy initiatives across the continent. Several final investment decisions were successfully closed, including Shell’s $5.5 billion Bonga North deepwater project. Additionally, strategic partnerships, including new PSCs signed by Panoro Energy in Equatorial Guinea and BW Energy in Gabon, highlight how international collaborations are accelerating energy development and creating new opportunities for exploration and production. This increased engagement is key to addressing the financing gap that has long hindered the growth of Africa’s energy sector.

Natural gas continues to play a central role in Africa’s energy strategy as a transitional fuel. The Africa-Paris Declaration underscored its importance as a bridge between traditional energy sources and renewable energy. Over the past year, significant strides have been made in natural gas exploration and LNG exports. Notable developments include Senegal’s Greater Tortue Ahmeyim LNG reaching its first gas production, the Republic of Congo’s first LNG exports to Italy from the Congo LNG project, Nigeria’s UTM FLNG receiving its construction license, and Angola’s Sanha Lean Gas Connection project achieving first gas, among others. These initiatives are not only crucial for advancing Africa’s energy transition, but also serve as powerful drivers of economic growth by creating jobs and advancing infrastructure development.

Meanwhile, countries like South Africa, Egypt and Morocco are at the forefront of wind and solar energy development, with momentum expected to build as they meet renewable energy targets and explore new growth opportunities. These investments are driving a shift toward cleaner, more sustainable energy in Africa, though challenges remain. High costs of renewable technologies and insufficient grid infrastructure continue to hinder expansion, underscoring the need for more investment in off-grid and mini-grid solutions.

Investment Gaps Persist

Despite these advancements, Africa still faces significant investment challenges. The financing gap for large-scale energy projects remains substantial and while the private sector has become more engaged, many projects still struggle to secure the necessary capital. In particular, the cost of financing remains high due to the perceived risks associated with energy investments in Africa. This is where continued efforts to de-risk investments and foster public-private partnerships are critical to unlocking the continent’s full energy potential. Institutional capacity continues to be a challenge for many African countries. While progress has been made in improving regulatory frameworks, there is still a need for clearer policies, streamlined permitting processes and better enforcement of regulations. Governments must continue to strengthen their institutions to effectively implement energy projects and create an enabling environment for both local and international investors.

With the IAE 2025 forum just months away, industry stakeholders have an opportunity to reflect on the progress made since the Africa-Paris Declaration and determine next steps for the continent’s energy future. The forum serves as a platform for government officials, industry leaders and financial institutions to renew commitments, share success stories and address ongoing challenges. While the road to universal energy access and a sustainable energy future is long, the declaration has set the framework for a collective effort that can lead to meaningful change. With the right investments, regulatory frameworks and political will, Africa can emerge as a global leader in energy innovation and sustainability.

MIL OSI Africa –

January 29, 2025
MIL-OSI Global: Why not all plans for a four-day working week would be a win for health

Source: The Conversation – UK – By Anne Skeldon, Professor of Mathematics, Head of School, School of Mathematics & Physics, University of Surrey

Dusan Petkovic/Shutterstock

The right to request a short working week, with four longer “shifts” and three days off is being proposed as part of new flexible working legislation in the UK. Also known as working “compressed hours”, this schedule can sound attractive, with reports claiming improved efficiency and productivity. And, of course, no pay cut for workers.

It could result in fewer commutes, which saves time for workers and can be more environmentally friendly. And it could provide more flexibility for workers with childcare or care for other dependants, for example.

But there could be negative consequences to squeezing typical workloads into fewer days. Under these plans, there is no suggestion that by compressing the working week, people will work fewer hours.

Compressed hours mean that, instead of working 7.5 hours a day for five days, you would work 9.4 hours per day for four days – putting in almost two hours more work every working day. There is strong evidence that longer work hours result in more errors and accidents. Long work hours are also linked to poorer decision-making and make it more likely people will have an accident on their drive home.

For example, it has long been understood that working longer shifts increases the risk of workplace accident and injuries. The risk of a workplace accident is on average 13% higher for a ten-hour shift than an eight-hour shift.

Accident risk remains more or less constant for the first eight or so hours of work but then rises rapidly, so that the risk of an accident in the tenth hour of work is 90% higher than in the first eight hours.

To function effectively and safely at work relies on sufficient sleep, ideally at the right time of day and in a regular pattern. This is based on fundamental physiological factors that cannot be changed by training, motivation or professionalism.

Getting into sleep debt

These factors that determine our ability to function are driven by time of day, how long we have been awake and accumulated sleep debt. For example, humans are sleepier during the night than the day, and it can take between two and four hours after waking to achieve full alertness.

What’s more, our ability to function decreases rapidly after we have been awake for 16 hours, and especially so at night.

But what are the health consequences of a compressed hours schedule? It is already commonplace for people to have shorter periods of sleep during the working week and then try to catch up with sleep at the weekend, with mixed results.

If people work compressed hours, then on working days they have to fit in two extra hours of work but still carry out all the other activities in their daily lives. They still need to wash, eat, communicate, provide care for children and others.

So there’s a real chance that compressed hours then also lead to “compressed sleep” and accentuate irregular patterns of rest or chronic sleep debt. Irregular or insufficient sleep is increasingly associated with a higher risk of diabetes, cardiovascular disease, obesity, certain cancers and dementia – the leading causes of mortality in wealthy nations. In 2017, the economic cost of insufficient sleep in the UK alone was estimated as US$50 billion (£40 billion), up to 1.86% of GDP.

Read more:
The science behind why you love a weekend lie-in

The negative effect of chronic sleep loss accumulates more rapidly than experts previously realised. This knock-on effect is most severe during night shifts, especially when those shifts are long. There are good reasons why the UK regulator, the Health and Safety Executive, supports the EU working time directive, which imposes constraints on the length, timing and number of shifts.

If the concept of fewer but longer work shifts is accepted, what happens next? Why not propose three 12.5-hour workdays a week, or two 18.75-hour workdays? Why not work 24 hours a day and then work only eight days a month?

And at the end of a long day, many workers have to get behind the wheel.
Andrey_Popov/Shutterstock

This sounds fanciful, and yet it is happening. Several UK fire services have moved to 24-hour shifts, following the trend in North America where 24, 48 or even longer duty hours are common for firefighters. Also in North America, many physicians work 24-hour shifts or longer, with well-documented negative consequences including higher rates of serious medical errors and surgical complications, and increased accident risk on the drive home when compared to shorter shifts.

It’s certainly true that some workers prefer to work longer days, for example to have longer blocks of time off for childcare. But at what point do concerns over the safety of employees and the people they interact with – as well as the negative effects (and financial costs) on long-term health – outweigh employee preference?

Compressed hours of work may be effective in some scenarios for some people and businesses. But if compressed hours of work lead to compressed sleep, then we need to recognise the negative consequences.

New legislation should build in sufficient guidance and protections for both employers and employees, plus it should be evidence-based. With wearable tech like smartwatches to track behaviour, it should be feasible to collect information on sleep, health, near misses and accidents. Then mathematical models and AI could be used to design individualised work schedules that are healthy and productive for everyone.

Anne Skeldon has received funding from Transport for London and from Scotia Gas Network.

Derk-Jan Dijk received funding from AFOSR USA.

Steven W Lockley is a consultant to Timeshifter Inc, KBR Wyle Services, Apex 2100 Ltd and Illumalife Inc.

– ref. Why not all plans for a four-day working week would be a win for health – https://theconversation.com/why-not-all-plans-for-a-four-day-working-week-would-be-a-win-for-health-247839

MIL OSI – Global Reports –

January 29, 2025
MIL-OSI Global: Five reasons why vertical farming is still the future, despite all the recent business failures

Source: The Conversation – UK – By Gail Taylor, Dean of Life Sciences, UCL

Don’t believe the tripe. Amorn Suriyan

Plant factories are failing, with multiple companies closing or going bankrupt in recent months. This includes the largest vertical farm on the planet, in Compton, Los Angeles.

Owned by San Francisco-based startup Plenty, the farm opened in 2023 to grow salads in partnership with Walmart. It was mothballed at the end of 2024, with the company citing the rising cost of energy in California as a major problem.

Despite raising over US$1 billion (£802 million) from investors, the company’s value has reportedly plummeted from US$1.9 billion to below US$15 million. It now aims to focus solely on strawberry production in Virginia.

New York-based Bowery Farming also halted all operations in late 2024, having previously being valued at US$2.3 billion. Fellow American vertical farmers AeroFarms, Kalera and AppHarvest have similarly filed for bankruptcy in the past two years, as has the UK’s Growing Underground, among various others.

Clearly these are major setbacks. Year-round illuminated greenhouses and stacked, controlled-environment warehouses for producing food have been hailed as a sustainable alternative to traditional farming, promising fresh food close to populations.

This reduces the need for transportation, which together with other issues in traditional farming such as soil degradation and forest clearing see it contributing around 20% of the greenhouse gases that lead to planetary warming and climate change.

Multiple new indoor-farming companies sprang into life in the past decade, driven by significant venture capital. They harnessed the latest in LED lighting and hydroponic and aeroponic growing systems, using land and water ten to 100 times more efficiently than in a field and with far fewer pesticides.

Initially developed to grow leafy greens and microgreens, these farms have more recently turned to higher value produce including herbs, strawberries, tomatoes and grapes.

Grow, baby, grow.
Gorodenkoff

Among the reasons for the business failures are rising energy costs; the fact that traditional farming is cheaper, making it hard to compete on price; and the fact that rising interest rates have made financing more expensive.

Together with other challenges such as high energy consumption and finding enough skilled labour, many opponents are writing this sector off as a fad that is unlikely to ever make a big impact on food security.

This ignores success stories, such as JFC and Grow-up Farms, which are regular suppliers to the UK supermarkets. But more broadly, there are various reasons why the critics are likely to be wrong:

1. We’re still early

Vertical farming has been proving itself by “learning by doing” for the past decade. Kicked off by Nasa space scientists seeking to grow food in hostile environments with zero gravity and heavy radiation, this field is still highly experimental.

New technologies like this one often conform to the Gartner hype cycle, where big initial expectations are rarely met, leading to a trough of disillusionment. Following this, the benefits start to crystallise as new players enter the market and mainstream adoption begins.

Vertical farming is only a very small proportion of total farming, but it looks very likely to flourish given the need to reduce greenhouse-gas emissions, and the threats to food security from climate change and population growth. In addition, the costs are likely to be reduced by the arrival of much more renewable energy at cheaper prices in years to come.

2. Heavy plant demand is coming

Society stands on the edge of an unprecedented transformation as it shifts away from fossil fuels. We’re going to move to a circular bioeconomy, in which green plants will be central as feedstocks for everything from aviation fuels to alternative proteins to vaccine production to plant-based plastics.

All this means greater pressure on land resources for food production, and an enhanced need for vertically stacked agriculture that recycles water and nutrients and requires fewer chemicals.

3. Science is on its side

Unexpected scientific discoveries continue to drive vertical farming. For example, tunable wavelength LEDs have shown that certain spectral bands can affect crops profoundly.

Far-red light, which is just beyond visible red light, promotes growth and flowering, raising lettuce yields by 30%, for example. Blue light can improve shelf-life and nutritional quality, even enhancing certain plant chemicals known to help prevent cancers.

The significance of these discoveries has yet to be fully realised, but by the complete control of the farming environment that indoor farming makes possible, we will be able to more easily tailor food quality for the betterment of people and the planet.

4. It’s horses for courses

Growing leafy greens indoors in California, as Plenty did, was always going to be challenging. This is the state where they invented the iceberg lettuce, where wall-to-wall sunshine and even temperatures enable farmers to grow enough salad greens to supply the whole of the US.

Contrast Singapore, where only 6% of fresh produce is locally grown. This has prompted the government to develop the “30 x 30” goal to supply 30% of nutritional needs by 2030, with vertical farming a key part of the strategy.

Similarly the United Arab Emirates imports over 90% of its food, and is looking towards a future that includes vertical farming. The UK and much of northern Europe, where the outdoor growing season is short and land is limited, can also benefit from these technologies (and indeed, do already).

It’s a different story in Singapore.
PrasitRodphan

5. Baby and bathwater

Unlike the cutting-edge LED-illuminated, stacked warehouses, intensive hydroponic greenhouses have been operating commercially for decades. The Netherlands leads the way in supplying year-round fresh produce from these structures, and is now the second biggest food exporter in the world.

Even in the UK, its common for such greenhouses to supply potted herbs, tomatoes and strawberries all year round.

These are a half-way house to vertical farming, and are also likely to be in greater demand in the coming decades. They could well extend their reach to supply fresh nutritious food to places where food security may be particularly challenged, such as Africa, south Asia and the Middle East.

Gail Taylor has received funding for research on vertical farming from the John B. Orr Endowment from the University of California, Davis and gift funding from the company, Plenty. Between 2021 and 2024 she was a member of the Scientific Advisory Board for the company Plantible Foods.

– ref. Five reasons why vertical farming is still the future, despite all the recent business failures – https://theconversation.com/five-reasons-why-vertical-farming-is-still-the-future-despite-all-the-recent-business-failures-248270

MIL OSI – Global Reports –

January 29, 2025
MIL-OSI United Kingdom: Government opens discussions with Community Pharmacy England over 2025 to 2026 funding contract
Source: United Kingdom – Executive Government & Departments 2

The consultation will set the future direction for the community pharmacy sector.
The Department of Health and Social Care (DHSC) has entered into consultation with Community Pharmacy England (CPE) regarding the 2024 to 2025 and 2025 to 2026 funding contractual framework.

The discussions will set the future direction for community pharmacy as it plays a vital role in supporting delivery of the reforms set out in the government’s Plan for Change.

A letter signalling the start of the consultation was sent to CPE on Monday, 27 January 2025.

Moving the focus of care from hospitals into the community is one of the 3 core shifts outlined in the 10 Year Health Plan, which will be published later this year. The government has previously outlined its ambition to make better use of pharmacists’ skills and training to deliver more services for patients within their local communities.

Minister of State for Care, Stephen Kinnock said:

Community pharmacists are at the heart of local healthcare, and they have a vital role to play as we shift from hospital to community, giving patients better access to care, closer to home, through our 10 Year Health Plan.

We have inherited a sector that is suffering from years of underfunding and neglect, but we recognise the hard work pharmacists undertake every day to deliver for patients.

I am committed to working closely with Community Pharmacy England to agree a package of funding that is reflective of the important support that they provide to patients up and down the country. I am confident that together we can get the sector back on its feet and fit for pharmacies and patients long into the future.

Janet Morrison, Chief Executive of Community Pharmacy England said:

We are relieved that discussions on the arrangements for community pharmacy are now commencing.

Community Pharmacy England will consider very carefully if the proposals that the government is putting on the table address the severity of the funding crisis in community pharmacy.

Everyone in community pharmacy shares the government’s ambition for a vibrant community pharmacy sector, playing a vital role in delivering long term health plans, but this can only be achieved if the sector is put on a sustainable financial footing.

Amanda Doyle, National Director for Primary Care for NHS England, said:

The NHS knows just how important pharmacies are to local communities – they offer people convenient care close to home which is a key ambition of the 10 Year Health Plan.

We recognise that pharmacies are under pressure, and we are committed to working with the sector and government to ensure that patients can continue to receive high-quality care building on the exceptional work of teams over the past few years to develop and expand new services for patients.

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Published 28 January 2025
MIL OSI United Kingdom –
January 29, 2025
MIL-OSI United Nations: Deputy Secretary-General Tells Africa Energy Summit Policy Coherence, Finance, Transparent Cooperation Key to ‘Illuminate the Lives of Millions’

Source: United Nations General Assembly and Security Council

Following are UN Deputy Secretary-General Amina Mohammed’s remarks to the panel on “Policies and Reforms for Transforming African Energy” at the Mission 300 Africa Energy Summit, in Dar es Salaam today:

I want to start by thanking the Government of Tanzania and the African Union for its leadership, and the World Bank, the African Development Bank and the Mission 300 partners for convening this summit.

Mission 300 has undertaken an enormous task: to help close the energy access gap and unlock sustainable development across the continent by delivering electricity to 300 million Africans by 2030. As we have heard, we face a stark reality: 685 million people across the continent still lack access to electricity, with the gap widening as population growth outpaces new electricity connections.

And yet, Africa is richly endowed with natural resources vital for renewable energy technologies: it is home to 60 per cent of the world’s best solar resources and possesses vast wind, hydro and geothermal potential. And critical minerals mined in Africa are powering the renewables revolution around the world.

Despite this abundance, and record global investments in renewable energies worldwide, Africa continues to be left behind and many Africans continue to lack access to clean, affordable energy. This injustice must be urgently resolved. Access to electricity is an essential development requirement, one that can also be the multiplier for acceleration in building a sustainable future for all.

Providing clean energy to local communities represents a unique opportunity to improve health, widen access to education and social protection, make food systems resilient and create green jobs, e-commerce and financial services, while at the same time protecting the environment and biodiversity.

We have heard our distinguished speakers discuss why companies and Governments should get involved. The business case is clear: the falling costs of renewables and storage offer a great opportunity to deliver access to energy, energy security and sovereignty and climate resilience.

With the new African Continental Free Trade Area, aiming at a trade zone without barriers to the transfer of goods and services, the business opportunities will further multiply if the right policy environments — coherent and predictable — are put in place.

As we move into discussing what policies and reforms for transforming African energy can enable millions to access energy, I would like to focus on three areas of urgent attention for policymakers.

First, fostering policy coherence. We are five years away from the target of our SDGs [Sustainable Development Goals], and we are not on track. Policymakers and the international institutions need to strive to ensure sector-wide plans are coherent and aligned with the achievement of the SDGs due in 2030, while investors need robust regulatory laws in place to ensure business can operate aligned with them.

At this Summit, Mission 300 target countries are presenting their first national energy strategies for achieving universal energy access. These strategies need to be part of a broader plan, one that — while achieving universal energy access — needs to be aligned with the new economy-wide national climate action plans, or NDCs, consistent with 1.5°C, well before COP 30 [the 2025 United Nations Climate Change Conference] in November.

NDCs represent a unique opportunity for all countries to align their new climate plans and energy strategies, together with addressing adaptation needs. NDCs must coordinate the transition from fossil fuels with scaling of renewables and grid modernization and expansion, ensuring energy security and affordability. And they must be anchored in justice — providing support for affected workers and communities.

If done right, climate plans align with national development priorities and double as investment plans — becoming blueprints for a more sustainable and prosperous future. The Secretary-General’s panel on critical energy transition minerals offers important principles and actionable recommendations to ensure this new era does not repeat historical patterns of exploitation. SEforALL [Sustainable Energy for All], UN Resident Coordinators and country teams will continue to support country-level policy reforms, integrate stakeholder innovations, build institutional capacities and boost infrastructure investments across the entire clean-energy supply chain.

Second, mobilizing finance and support. While private-sector investments and innovation are important, public financing remains vital — especially in modernizing grid infrastructure to expand access and integrate renewables. Blending concessional public funds with commercial funds can help multiply renewable-energy investments in developing countries. We must work to strengthen the health of Africa’s public finances and tackle unsustainable debt burdens that are crowding out essential public investments.

The fourth International Conference on Financing for Development, that will take place in July to underpin the needs for long-term concessional finance, and the 1.3 trillion roadmap, agreed in Baku, that needs to be delivered by COP 30 in Brazil, must provide investments to scale up, among others, the energy transition.

Third, enhancing transparent international cooperation. International investments and cross-border partnerships hold the key to delivering electricity projects at a massive scale. Institutions must be strengthened to operate in complex regulatory environments, with multiple actors across jurisdictions.

Public-private partnerships need to be subject to stable and transparent public procurement rules throughout the whole project cycle — rules that prioritize long-term sustainability and allow for mutually beneficial contractual relationships. Transparency and accountability should be a hallmark of Mission 300 and set a new standard for cooperation across the continent.

As we start the five-year countdown to delivering on the Sustainable Development Goals, and mark the ten-year anniversary of the Paris Agreement, let us work together to illuminate the lives of millions, power the industries of tomorrow and ensure that no one is left behind in the race to deliver universal clean energy, climate resilience and economic prosperity.

MIL OSI United Nations News –

January 29, 2025
MIL-Evening Report: As the ‘digital oligarchy’ grows in power, NZ will struggle to regulate its global reach and influence

Source: The Conversation (Au and NZ) – By Alexandra Andhov, Chair in Law and Technology, University of Auckland, Waipapa Taumata Rau

The images of President Donald Trump at his inauguration surrounded by the titans of the global tech industry is a warning of what could come: a global digital oligarchy dominated by a tiny tech elite.

Companies like Meta, Google, Microsoft, Amazon, X Corp, and OpenAI (all based in the United States) now operate beyond the control of most governments. Countries like New Zealand are increasingly struggling to keep these companies in check.

In the past decade, New Zealand has taken several measures to curb the influence of powerful tech companies through voluntary agreements and tax legislation.

But the digital age has fundamentally changed national sovereignty – the right of individual countries to decide the rules within their own borders.

Big tech companies are gradually taking on functions traditionally reserved for government institutions. For example, these companies have begun to function as the arbiters of speech, controlling the visibility of certain ideas and comments.

As recently as this month, Meta obscured searches for left-leaning topics including “Democrats”, later blaming the issue on a “technical glitch”.

And as was widely covered in the media, Amnesty International released a report claiming that Facebook’s algorithms “proactively amplified” anti-Rohingya content in Myanmar, substantially contributing to human rights violations against the ethnic group.

New Zealand’s attempts to regulate big tech

A number of governments are now facing the question of how to temper the influence of these companies within their current legal frameworks.

As New Zealand (among others) has discovered in the past decade, influencing the behaviour of these companies is easier said than done. It has repeatedly found itself struggling to effectively manage big tech’s impact on its society and economy.

In 2018, for example, New Zealand’s Privacy Commissioner said Facebook had failed to comply with its obligations under the New Zealand Privacy Act. The company told the commission the Privacy Act did not apply to it.

When the Christchurch terrorist attack was livestreamed on Facebook (owned by Meta), New Zealand authorities found themselves largely powerless to prevent the video’s spread across global platforms.

This crisis prompted then-prime minister Jacinda Ardern to launch the Christchurch Call initiative aimed at combating online extremism by fostering collaboration between governments and tech companies.

The goal was to develop and enforce measures such as improved content moderation, removal of extremist material, and the creation of safer online environments.

While gaining support from more than 120 countries and tech companies, its effect depends on voluntary ongoing cooperation. Recent events suggest this ongoing cooperation is unlikely.

In January, Meta CEO Mark Zuckerberg announced plans to get rid of content moderation in the US and possibly elsewhere. Zuckerberg has also pushed back against European Union regulations, claiming the EU’s data laws censored social media.

Taxing big tech

In 2019, New Zealand proposed a 3% digital tax on big tech revenue. A similar measure was introduced by France in 2020 and by Canada and Australia last year.

While these proposals signify important steps toward holding big tech accountable, their implementation remains uncertain.

Although the relevant tax provisions have been adopted in New Zealand, the law includes clauses allowing tax collections to be deferred until as late as 2030.

Meanwhile, big tech continues to push back aggressively against regulation in various ways. These have included threatening reduced services (such as the brief closure of TikTok in the US) to leveraging their relationships with the Trump government against other countries.

Using competition regulation to rein in big tech

In December 2024, the Australian government unveiled draft legislation on big tech to level the playing field.

The proposed law seeks to foster fair competition, prevent price gouging, and give smaller tech and news companies a chance to thrive in a landscape increasingly dominated by global giants.

The legislation would grant the Australian Competition and Consumer Commission the authority to investigate and penalise companies with fines of up to A$50 million for restricting competition.

The targeted behaviour includes tactics such as restricting data transfers between platforms (for example, moving contacts or photos from iPhone to Android) and limiting third-party payment options in app stores.

The proposed law aims to put an end to these unfair advantages, ensuring a level playing field where businesses of all sizes can compete and consumers have more choices.

Democractic governance in the digital age

The growing power of tech platforms raises critical questions about democratic governance in the digital age.

There is an urgent need to reconcile the global influence of tech companies with local democratic processes and to create mechanisms that safeguard individual and national sovereignty in an increasingly digital world.

Governments need to recognise these platforms are not immutable forces of nature, but human-created systems that can be challenged, reformed or dismantled. The same digital connectivity that has empowered these corporations can become the very tool of their transformation.

Alexandra Andhov is conducting research on Big Tech Governance, funded by the Independent Research Fund Denmark under the Inge Lehmann Programme. The author is grateful for this support and wishes to acknowledge that the research was conducted entirely independently.

– ref. As the ‘digital oligarchy’ grows in power, NZ will struggle to regulate its global reach and influence – https://theconversation.com/as-the-digital-oligarchy-grows-in-power-nz-will-struggle-to-regulate-its-global-reach-and-influence-247899

MIL OSI Analysis – EveningReport.nz –

January 29, 2025
MIL-OSI USA: CONSUMER ALERT: Watch out for charity scams seeking to profit from the California wildfires
Source: Washington State News

OLYMPIA — The Attorney General’s Office Consumer Protection Division is warning Washingtonians to be on the lookout for scammers targeting donations aiding those affected by the wildfires in California. Attorney General Nick Brown asks Washingtonians to report any suspicious solicitations to his office.

“The catastrophic damage from these fires makes us want to support relief and recovery efforts,” Brown said. “I urge potential donors to give with caution and look out for potential scams or fraudulent solicitations. If you see charity solicitations that look suspicious, please file a complaint with my office.”

Anyone who believes they have detected or been the victim of a charity scam can submit a complaint to the Attorney General’s Office using this online complaint form. If the charity is located in California, donors can also submit a complaint form, located here.

The Attorney General’s Office reminds donors that they can help protect themselves from scams by slowing down and researching any charities they want to support. For instance, donors should pause and consider whether an advertised charity has an actual history of providing the type of work needed in response to a disaster.

You can take additional steps to protect yourself from scams by doing the following:
- Research the charity before giving. Ensure the charity is registered with the Washington Secretary of State at www.sos.wa.gov/charities. If the charity is registered, you can review a summary of its financial records and tax status. You can also check the charity’s rating on Charity Navigator at www.charitynavigator.org, Guidestar’s Nonprofit Directory at www.guidestar.org or use the IRS’s Tax Exempt Organization Search tool, located here, to verify the entity’s status.
- Don’t give in to high-pressure tactics. If is someone is demanding immediate payment or sensitive personal information, it’s likely a scam.
- Verify a Charity’s Tax Status: You should remember that giving to a specific individual or a family’s crowdfunding efforts presents more risk than giving to an established charity. Additionally, a donation to an individual or family is not a tax-deductible gift, in most circumstances. If you are unsure about the charity’s designation, use the IRS’s Tax Exempt Organization Search tool to verify the entity’s status.
- Report Unwanted Robocalls and Robotexts: Generally, unsolicited robocalls and robotexts are illegal. Recipients of those calls and texts can report them using the Attorney General’s Telephone Scam Reporting Form, located here.
- Watch Out for Imposters: Fraudulent organizations may use names that closely resemble those of well-established charitable organizations to mislead donors. Look out for fraudulent websites that have a slightly different web address than that of a legitimate charitable organization. Similar-looking web and email addresses are sometimes used by scammers to lure in donors.
-30-

Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit www.atg.wa.gov to learn more.

Media Contact:

Email: press@atg.wa.gov

Phone: (360) 753-2727

General contacts: Click here

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MIL OSI USA News –
January 29, 2025

Category: Economy

DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

EXPLANATORY STATEMENT

ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

PROCEDURE – COMMITTEE RESPONSIBLE

Driven by philanthropy

Why there’s no more free entry

The MCA isn’t struggling alone

Can accessiblity be prioritised in Australia?

What did our interviews tell us?

What should we do before the next megafires?

Junta under pressure on the battlefield

Economic woes

Could Myanmar fall apart?

Get in control

What was Dutch art about before slavery and what was the golden age?

How did this play out within Dutch colonialism?

What was the relationship between artists and Dutch colonies?

How do you discuss Rembrandt’s paintings in your book?

What do you hope readers will take away from the book?

Why previous mediation efforts failed

What a path to a ceasefire might look like

Preparing for a window of opportunity

Quote

Quick Facts

Associated Links

What was Dutch art about before slavery and what was the golden age?

How did this play out within Dutch colonialism?

What was the relationship between artists and Dutch colonies?

How do you discuss Rembrandt’s paintings in your book?

What do you hope readers will take away from the book?

Why previous mediation efforts failed

What a path to a ceasefire might look like

Preparing for a window of opportunity

The market under different presidents

Incentives, not ignorance

Central bank independence in Canada

Carney on central bank independence

Disastrous consequences

Unique role

Financial and political challenges

Call to action

Getting into sleep debt

1. We’re still early

2. Heavy plant demand is coming

3. Science is on its side

4. It’s horses for courses

5. Baby and bathwater

Share this page

Updates to this page

New Zealand’s attempts to regulate big tech

Taxing big tech

Using competition regulation to rein in big tech

Democractic governance in the digital age