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Category: Economy

  • MIL-Evening Report: New Zealand and Gaza: Confronting and not confronting the unspeakable

    ANALYSIS: By Robert Patman

    New Zealand’s National-led coalition government’s policy on Gaza seems caught between a desire for a two-state diplomatic solution to the Israeli-Palestinian conflict and closer alignment with the US, which supports a Netanyahu government strongly opposed to a Palestinian state

    In the last 17 months, Gaza has been the scene of what Thomas Merton once called the unspeakable — human wrongdoing on a scale and a depth that seems to go beyond the capacity of words to adequately describe.

    The latest Gaza conflict began with a horrific Hamas terrorist attack on Israel on 7 October 2023 that prompted a relentless Israel ground and air offensive in Gaza with full financial, logistical and diplomatic backing from the Biden administration.

    During this period, around 50,000 people – 48,903 Palestinians and 1706 Israelis – have been reported killed in the Gaza conflict, according to the official figures of the Gaza Health Ministry, as well as 166 journalists and media workers, 120 academics,and more than 224 humanitarian aid workers.

    Moreover, a fragile ceasefire between Israel and Hamas, signed in mid-January, seems to be hanging by a thread.

    Israel has resumed its blockade of humanitarian aid to Gaza and cut off electricity after Hamas rejected an Israeli proposal to extend phase 1 of the ceasefire deal (to release more Israeli hostages) without any commitment to implement phase 2 (that envisaged ending the conflict in Gaza and Israel withdrawing its troops from the territory).

    Hamas insists on negotiating phase 2 as signed by both parties in the January ceasefire agreement

    Over the weekend, Israel reportedly launched air-strikes in Gaza and the Trump administration unleashed a wave of attacks on Houthi rebel positions in Yemen after the Houthis warned Israel not to restart the war in Gaza.

    New Zealand and the Gaza conflict
    Although distant in geographic terms, the Gaza crisis represents a major moral and legal challenge to New Zealand’s self-image and its worldview based on the strengthening of an international rules-based order.

    New Zealand’s founding document, the 1840 Treaty of Waitangi, emphasised partnership and cooperation between indigenous Māori and European settlers in nation-building.

    While the aspirations of the Treaty have yet to be fully realised, the credibility of its vision of reconciliation at home depends on New Zealand’s willingness to uphold respect for human rights and the rule of law in the international arena, particularly in states like Israel where tensions persist between the settler population and Palestinians in occupied territories like the West Bank.

    New Zealand’s declaratory stance towards Gaza
    In 2023 and 2024, New Zealand consistently backed calls in the UN General Assembly for humanitarian truces or ceasefires in Gaza. It also joined Australia and Canada in February and July last year to demand an end to hostilities.

    The New Zealand Foreign Minister, Winston Peters, told the General Assembly in April 2024 that the Security Council had failed in its responsibility “to maintain international peace and security”.

    He was right. The Biden administration used its UN Security Council veto four times to perpetuate this brutal onslaught in Gaza for nearly 15 months.

    In addition, Peters has repeatedly said there can be no military resolution of a political problem in Gaza that can only be resolved through affirming the Palestinian right to self-determination within the framework of a two-state solution to the Israeli-Palestinian dispute.

    The limitations of New Zealand’s Gaza approach
    Despite considerable disagreement with Netanyahu’s policy of “mighty vengeance” in Gaza, the National-led coalition government had few qualms about sending a small Defence Force deployment to the Red Sea in January 2024 as part of a US-led coalition effort to counter Houthi rebel attacks on commercial shipping there.

    While such attacks are clearly illegal, they are basically part of the fallout from a prolonged international failure to stop the US-enabled carnage in Gaza.

    In particular, the NZDF’s Red Sea deployment did not sit comfortably with New Zealand’s acceptance in September 2024 of the ICJ’s ruling that Israel’s continued presence in the occupied Palestinian territory (East Jerusalem, the West Bank and Gaza) was “unlawful”.

    At the same time, the National-led coalition government’s silence on US President Donald Trump’s controversial proposal to “own” Gaza, displace two million Palestinian residents and make the territory the “Riviera” of the Middle East was deafening.

    Furthermore, while Wellington announced travel bans on violent Israeli settlers in the West Bank in February 2024, it has had little to say publicly about the Netanyahu government’s plans to annex the West Bank in 2025. Such a development would gravely undermine the two-state solution, violate international law, and further fuel regional tensions.

    New Zealand’s low-key policy
    On balance, the National-led coalition government’s policy towards Gaza appears to be ambivalent and lacking moral and legal clarity in a context in which war crimes have been regularly committed since October 7.

    Peters was absolutely correct to condemn the UNSC for failing to deliver the ceasefire that New Zealand and the overwhelming majority of states in the UN General Assembly had wanted from the first month of this crisis.

    But the New Zealand government has had no words of criticism for the US, which used its power of veto in the UNSC for more than a year to thwart the prospect of a ceasefire and provided blanket support for an Israeli military campaign that killed huge numbers of Palestinian civilians in Gaza.

    By cooperating with the Biden administration against Houthi rebels and adopting a quietly-quietly approach to Trump’s provocative comments on Gaza and his apparent willingness to do whatever it takes to help Israel “to get the job done’, New Zealand has revealed a selective approach to upholding international law and human rights in the desperate conditions facing Gaza

    Professor Robert G. Patman is an Inaugural Sesquicentennial Distinguished Chair and his research interests concern international relations, global security, US foreign policy, great powers, and the Horn of Africa. This article was first published by The Spinoff and is republished here with the author’s permission.

    MIL OSI Analysis – EveningReport.nz –

    March 18, 2025
  • MIL-OSI Australia: Housing Delivery Authority delivers 15 more State Significant Developments

    Source: New South Wales Ministerial News

    Published: 18 March 2025

    Released by: Minister for Planning and Public Spaces


    The Minister for Planning and Public Spaces has declared a further 15 housing proposals as State Significant Development (SSD) following recommendations from the Housing Delivery Authority (HDA).

    These new housing proposals, if approved, could deliver more than 7,000 new homes.

    After three briefings in two months a total of 44 housing development proposals have been declared state significant under the HDA, with the potential to deliver more than 22,000 new homes, once proposals are assessed.

    Since the first meeting, nine projects have also had Secretary’s Environmental Assessment Requirements issued, the first step in the assessment process which signals a good flow of projects progressing quickly along the SSD pathway.

    To date, the Authority has received over 250 expressions of interest. At its latest meeting, 32 proposals were examined.

    The authority is prioritising high-quality housing projects with detailed plans that can be submitted within nine months and can begin construction within 12 months of approval. To be declared state significant, proposals submitted to the HDA that are already being assessed via another planning pathway need to be withdrawn from that pathway.

    All proposals declared as SSD will have their development applications assessed by the Department of Planning, Housing and Infrastructure, without needing to be approved by councils. This can cut approval times and speed up the delivery of new homes.

    This is all part of the Minns Government’s plan to build a better NSW with more homes and services, so young people, families and key local workers have somewhere to live and in the communities they choose.

    The HDA builds on the Minns Government’s recent reforms to the planning system to speed up the delivery of more homes, including:

    • The development of the NSW Pattern Book and accelerated planning pathway for those who use the pre-approved patterns.
    • The largest rezoning in NSW history around transport hubs and shopping centres to address the “missing middle.”
    • The largest ever investment in the delivery of social and affordable housing in NSW.
    • $200 million in financial incentives for councils that meet the new expectations for development applications, planning proposals and strategic planning.
    • $450 million to build new apartments for essential workers including nurses, paramedics, teachers, allied health care workers, police officers and firefighters.

    Recommendations from the HDA are published as required under the Environmental Planning and Assessment Act 1979 before the SSD declaration. For more information visit Housing Delivery Authority | Planning.

    Minister for Planning and Public Spaces Paul Scully said:

    “These latest projects that I have declared as State Significant Developments have the potential to deliver more than 7,000 new homes including affordable housing.

    “The Housing Delivery Authority is not a silver bullet to our housing supply challenges, but it’s certainly a step in the right direction.

    “In three briefings, I have declared projects that could deliver more than 22,000 dwellings into a state-assessed planning pathway, proponents now have nine months to prepares their planning documents, and must commence construction if they are approved within 12 months, because the need for housing is too urgent.”

    MIL OSI News –

    March 18, 2025
  • MIL-OSI China: China, UK pledge to jointly address climate change

    Source: People’s Republic of China – State Council News

    BEIJING, March 17 — Chinese Vice Premier Ding Xuexiang met with Ed Miliband, UK Secretary of State for Energy Security and Net Zero, in Beijing on Monday. The two sides agreed to enhance cooperation in jointly addressing climate change.

    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said developing stable and mutually beneficial relations between China and the UK serves the common interests of the two peoples, facilitates global economic growth, and promotes joint efforts to address global challenges.

    China is ready to work with the UK to earnestly implement the important consensus reached by the leaders of both countries, consolidate the momentum for improvement and development of bilateral ties, deepen cooperation in areas such as financial services, trade and investment, and low-carbon development, and jointly address climate change to better benefit the people of both countries and the world, Ding added.

    Miliband said the UK government sincerely hopes to enhance engagement with China, is committed to developing a long-term and constructive bilateral relationship, and stands ready to strengthen cooperation with China on energy security and addressing climate change.

    MIL OSI China News –

    March 18, 2025
  • MIL-OSI New Zealand: RAISINA DIALOGUE 2025: KĀLACHAKRA – PEOPLE, PEACE AND PLANET

    Source: New Zealand Government

    Namaskar, Sat Sri Akal, kia ora and good afternoon everyone.
    What an honour it is to stand on this stage – to inaugurate this august Dialogue – with none other than the Honourable Narendra Modi.
    My good friend, thank you for so generously welcoming me to India and for our warm discussions this morning.
    I am a great admirer of your extraordinary achievements as Prime Minister.
    In the almost 11 years that you’ve occupied the Prime Minister’s office, you have weathered the COVID crisis and still managed to expand India’s economy by 50%.
    You have lifted 250 million of your countrymen out of poverty and eliminated extreme poverty.
    Today, India is at the leading edge of technology with massive innovative potential.
    You were the first country to land on the moon’s South Pole.  In the process drawing the world’s attention to India’s extraordinary technological prowess.
    And Prime Minister, during your tenure, the Men in Blue have been the most dominant side in cricket’s white ball competitions, most recently winning the Champions Trophy last week against my Men in Black and breaking many New Zealanders hearts – including mine – in the process!
    Congratulations!
    Among this catalogue of achievements is the reason we gather today: the Raisina Dialogue.  A forum that provides a moment every year for thought-leaders from across the world to focus their collective minds on the contemporary strategic challenges being navigated right here in the Indian Ocean.
    I applaud Dr Jaishankar and Samir Saran for the intellectual leadership they have shown driving this Dialogue over the past 10 years. 
    It has grown into a hugely influential forum.  Look no further than the luminaries you attract: 6 former Heads of Government and Ministers from over thirty countries.
    I hope my remarks today, add to the debate in some small way.
    Ladies and gentlemen, it’s more than 200 years since Indians and New Zealanders first began living side-by-side.
    At the beginning of the 19th century – well before we became a nation – Indian sailors jumped ship in New Zealand, with some meeting locals and marrying into our indigenous Māori tribes.  A few years later, Māori traders began travelling to Kolkata to sell tree trunks used in sailing ships.
    An exchange that echoes down the ages.
    Just as they were 200 years ago, Kiwi-Indians today are fully integrated into our multicultural society.  New Zealanders of Indian heritage comprise 11% of the people living in Auckland, our biggest city.
    I’ve brought with me to New Delhi a selection of Kiwi-Indian community leaders. Members of Parliament, captains of industry, professional cricketers and even an online influencer who has revolutionised investment for women the world over.  In short, a selection of Kiwi-Indians who get up every single morning to make New Zealand a better place to live.
    And our trade has diversified considerably from wood thanks to the increased sophistication of your economy.  India today is a critical source of pharmaceuticals and machinery for us. While we are a great tourism and education destination for you.
    India has become an ever more significant feature of our society.
    And yet, while there has been much that has developed and changed, there has been something missing at the core of our relationship.
    With a country as consequential as India, we need rich political interaction, engaged militaries, strong economic architecture, and connections that support a diaspora that bridges between our two great nations.
    Prime Minister Modi and I sat down today and charted out the future of our two countries’ relationship.
    A future that builds from where we have been.  One that is wholly more ambitious about what we will do together in the future. 

    We agreed to our Defence Forces building greater strategic trust with one another, while deploying together and training together more.
    We want our scientists collaborating on global challenges like climate change and on commercial opportunities like space.
    We are supporting our businesses to improve air links and build primary sector cooperation.
    We will facilitate students, young professionals and tourists to move between our countries.
    And we’ve instructed our trade negotiators to get on and negotiate a free trade agreement between our two great nations.

    A comprehensive agenda to underpin a comprehensive relationship. As we look to the future, the opportunity for both our governments is to sustain that momentum.
    Not only to follow through on the commitments we have made to one another. But to proactively build on that platform, by exploring new opportunities and creating new architecture.
    To ensure that we are creating strategic trust and commercial connection between two countries at the bookends of our wide Indo-Pacific region.
    Ladies and gentlemen, it is to the Indo-Pacific that I now turn.  There are many reasons to be excited about our region.  I want to single out the two biggest opportunities.
    First, India and New Zealand are fortunate enough to live in the world’s most economically dynamic region.
    The Indo-Pacific will represent two-thirds of global economic growth over the coming years.  By 2030, it will be home to two-thirds of the world’s middle-class consumers.
    And India itself lies at the heart of this exciting economic future.  It’s easy to focus on the troubles the world faces, but its worth reflecting for a moment on what economic development at this scale means at a human level.
    Here in India, you’ve gone from only the very few in rural areas having a water or power connection to almost everyone. It means people with better health and education outcomes.  And that creates hope and optimism about the future for individuals and their families.
    Replicated across literally hundreds of millions of people, that process of development generates dynamic economies.  Growth that offers massive opportunities for every country in the Indo-Pacific, and families and individuals within them.
    The second big opportunity is technological change.  We are on the cusp of a transformation of our economies and societies in a way that we can barely now imagine.
    I’m talking about artificial intelligence, which is within reach of achieving the cognitive powers of a human being.  But I’m also thinking of a range of other technologies – quantum, biotech, advanced manufacturing – that are going to have profound impacts on our economies.
    It has felt like this technological transformation has been long-heralded, but never quite arrived. Well, it seems to me that a series of innovations – the always online world, big data, powerful computing, machine learning – are cumulating in ways that are going to tip over into a dislocation that is new and altogether different. 
    The game is about to change.  We are on the cusp of an explosion in the application of AI, a technology that will have an impact across the whole economy, not just in one or two sectors. A technology that will transform the way we work, study and entertain ourselves.  A technology that will force governments to think in entirely different ways about how they deliver public services and secure their nations.
    Certainly, this presents risks that will need to be managed.  For example, militaries are already using AI, which means the international community is going to need to develop new norms about how this is done in a way that ensures compliance with the rules of war and ensures human responsibility in conflict.
    But my message is that, while we need manage change, we cannot allow ourselves to be paralysed by the risks.  For those who believe they can outcompete through this period of technological dislocation, the opportunities are there.  The citizens, the companies, and the countries that embrace the coming change will be the ones that reap the dividends. 
    Yet, there’s also no doubt that there are fundamental trend lines in the Indo-Pacific that present geo-strategic risks to growth and prosperity.
    These have long-term drivers that are not going away, and have been amplified by recent events.
    Past assumptions – that underpinned the previous generation’s geopolitical calculations – are being upended.
    A fortnight ago, the Singaporean Foreign Minister, Vivian Balakrishnan, put this change eloquently when he said: “the world is now shifting from unipolarity to multipolarity, from free trade to protectionism, from multilateralism to unilateralism, from globalisation to hyper-nationalism, from openness to xenophobia, from optimism to anxiety”.
    This is a global change, not isolated to one region. Certainly, though, we live today in an Indo-Pacific navigating contest and rivalry, with a period of strategic uncertainty.  I would highlight three big shifts that make for challenging times ahead.
    Fist, we are seeing rules giving way to power. 
    Previously, we could count on countries respecting the UN Charter, the Law of the Sea and world trade rules.  That sadly cannot be assumed in an age of sharper competition.
    Instead, we risk dangerous miscalculation at flashpoints. These range from the militarisation of disputed reefs to dangerous air movements.  From land border incursions to breakout nuclear capabilities.
    Of course, it is not just flashpoints, but a slow shift in Indo-Pacific realities that change calculations.  Recent demonstrations of naval force near New Zealand’s maritime surrounds, for example, sent a signal that alarmed many of my fellow citizens.
    Second, we are witnessing a shift from economics to security. 
    After the Cold War, the dominant paradigm in relations between Indo-Pacific countries was a sustained effort to raise material living standards by tending to our economies.
    Make no mistake, “bread and butter” issues still loom very large, and are a priority for governments all around the region.  Indeed, economic growth is my Government’s highest priority.
    But across the Indo-Pacific, we also see Governments dedicating increased attention and resource to military modernisation. Military build-ups reflect a need to prepare against uncertainty and insecurity.  Some military build-ups, however, are underway without the reassurance that transparency brings.
    National security demands are expanding.  Governments need to protect their people and assets against foreign interference, cyberattacks, and terrorism.
    In the last few months, a new threat has emerged, with damage to critical infrastructure, like sub-sea cables. You can’t have prosperity without security, not least when the tools of commerce themselves require protection.
    The third geo-economic shift is from efficiency to resilience. 
    Where previously, Indo-Pacific economies saw ever deeper interdependence as a dynamo for growth, that can no longer be assumed in an age of decoupling.
    Onshoring, protectionism and trade wars are displacing best price, open markets, and integrated supply chains.
    And so we find ourselves in a world that is growing more difficult and more complex, especially for smaller states.
    However, we must engage with the world as it is, not as we wish it to be. So, like most countries across the region, New Zealand’s strategic policy is being shaped by our assessment of these trends.
    We have agency to shape the Indo-Pacific that we want, but we must do so with energy and with urgency.
    Ladies and gentlemen, as New Zealand looks to protect and advance our interests in the Indo-Pacific, we can only do so alongside partners.  Partners like India that have a significant role to play in the Indo-Pacific.
    In an increasingly multipolar world, India’s size and geo-strategic heft gives you autonomy.  At the same time, your democratic partners in the Indo-Pacific offer you a force multiplier for our convergent interests. 
    For at a time when democracy is in decline with less than half the world’s adults electing their leaders, it is an inspiration that 650 million Indians turned out to vote last year in the largest election in history.
    Your national election is a triumph of logistics and a triumph of legitimacy.  An election that means your leaders serve their people, rather than your people serving their leaders.
    Now, I don’t advocate arbitrary divisions between democracies and autocracies. And just because we are democracies, we won’t always see eye-to-eye. 
    Nonetheless, there’s truth in the fact that our democratic governance means we share a belief in the freedom to choose, giving everyone a voice and respect for the rules.  Our interests increasingly converge around seeing these three ideas as an aligned set of organising principles for our Indo-Pacific region.
    First, we want to live in an Indo-Pacific where countries are free to choose their own path free from interference.
    A region where no one country comes to dominate.
    It is a sign of the times that I stand here defending respect for sovereignty. Yet, New Zealand’s approach is increasingly shaped around that objective.
    Just on Saturday, I joined a call led by Prime Minister Starmer focused on what more those contributing to Ukraine’s defence can do to support a just and lasting peace.  To help a country whose sovereignty and territorial integrity has been so flagrantly attacked.
    In my home region, our fellow Pacific neighbours are navigating geo-strategic dynamics that are their sharpest in nearly 80 years.
    In a deeply contested world, Pacific partners are being asked to make choices that may undermine their national sovereignty.  They risk falling into over-indebtedness, they must make choices about dual-use infrastructure, and they face pressure to enter new security arrangements.
    New Zealand invests in working alongside Pacific countries to boost their capacity to make independent choices free from interference. 
    Yet, size alone cannot inoculate a country from these dynamics.  Building strong and diversified relationships is the key to mitigating the risks of dependence on a few.
    That is why my Government is investing in our key relationships, from traditional partners to thickening and deepening our relationships across Southeast Asia, and in a serious way with India, too. 
    And we have a responsibility to invest in our own security as a downpayment on our future ability to choose our own path.  That is why New Zealand will be scaling up and doing more to support our own defence.
    We plan to better resource and equip our Defence Force to ensure we can continue to defend our interests.  Whether in our near region, in our alliance with Australia, or in support of collective security efforts with partners like India.
    Alongside this investment in capability, we are making tangible contributions across the Indo-Pacific.  When I was in Japan last year, I saw firsthand the work our aviators do to detect and deter North Korea’s sanctions-busting activities.
    The New Zealand Navy is leading Combined Task Force 150 responsible for multinational activities to protect trade routes and counter smuggling, piracy and terrorism in the Indian Ocean and Gulf of Aden. We are fortunate indeed that India has agreed to take up the Deputy Command.  Underlining these naval connections, one of our frigates, HMNZS Te Kaha, is in Mumbai later this week.
    As we seek an Indo-Pacific in which countries are free to choose their own path, I’m determined New Zealand plays its role.  Whether through our work with Pacific Islands partners, our relationships in the Indo-Pacific, or through our defence efforts.
    A second principle both India and New Zealand subscribe to is the criticality of Indo-Pacific regional institutions, even as these evolve.
    Regional architecture scaffolds our region’s security and its prosperity.
    ASEAN continues to promote regional peace and economic development. Through its convening power and its centrality, it also provides a place for the region’s players to come together to discuss strategic issues.
    ASEAN sits at the centre of the East Asia Summit, which for twenty years now has enabled political dialogue across the region, a forum that builds understanding, reduces the risk of miscalculation and contributes to strategic trust.
    Yet, the Indo-Pacific architecture is not static as it adapts to new realities.  Mini-lateral groupings are important new pieces of the puzzle.
    The Quad has emerged as an important vehicle promoting an open, stable and prosperous Indo-Pacific region.  India’s contribution to that evolution has of course been vital.  While New Zealand has no pretensions to Quad membership, we stand ready to work with you to advance Quad initiatives.
    We ourselves are strengthening our work with Japan and the Republic of Korea, as well as Australia.  Last year, I convened the Indo-Pacific Four to discuss Ukraine and North Korea. 
    And with serious headwinds buffeting the global trade system, New Zealand is seriously invested in Indo-Pacific trade and economic integration groupings.
    From CPTPP, the gold standard of FTAs internationally, to RCEP, perhaps the world’s most inclusive.
    And we welcome India’s engagement in the regional economic architecture, with our work together in the Indo-Pacific Economic Framework (IPEF), important in an era in which we seek to build one another’s resilience.
    The third Indo-Pacific principle we align around is a region in which respect for the rules is foundational.
    Globally, rules are being undermined: whether those around territorial integrity, freedom of navigation, or laws of war.  Yet, these are the very rules that preserve an Indo-Pacific order that is not “might is right” alone. 
    And, as I have said before, there is no prosperity without security. The rules that underpin our security also allow our businesses to operate with certainty. Those rules deliver daily in meaningful ways for our people.
    For example, one in four jobs in New Zealand rely on exports and our exporting businesses being able to depend on the predictability that those rules deliver. And in a miracle, that’s only possible thanks to globally-accepted aviation standards, 120,000 flights carry 12 million passengers and operate safely between their destinations every day.
    These rules shape the character of our region.  We remain committed to this rules-based system, even while acknowledging its shortcomings.  It is a truism that the world of 2025 is vastly different from 1945, and yet global institutions sadly have been slow to adapt.
    We are not talking about “starting over” by remaking the global order. Instead, I tend to agree with Dr Jaishankar when he says we want an order in which change is evolutionary – at a pace that is comfortable and steady.
    That’s why New Zealand supports reforming global governance frameworks to better reflect today’s realities.  Rather than casting them aside, they should give greater voice to the developing world and under-represented regions.
    Countries like India – that play such a central role in the global community – should have a seat at the table. We’ve therefore long supported India having a permanent seat on a reformed UN Security Council.
    Distinguished guests, ladies, and gentlemen.
    It has been a privilege to speak to you today, at this important forum for global dialogue.
    The geostrategic picture I’ve painted is stark.  Rules are giving way to power; economics to security; and efficiency to resilience.
    The tectonic shifts unfolding highlight that we – working alongside partners and friends – must navigate disruption, uncertainty, and sharpening pressure on our national interests.
    Yet, we will not be overwhelmed by complexity and challenge. We must go forward with confidence.
    We live at the heart of the world’s most exciting and dynamic region – the Indo-Pacific.
    We live in an era of technological transformation that offers outsized opportunities.
    We are countries with solid underlying democratic institutions, which will underpin our societies’ future success.
    India and New Zealand have extraordinarily talented people. 
    Both our countries have a clear plan that reflects and reinforces the connections between our security and prosperity. 
    We cannot afford to be thrown by the rapid pace of change – we must grapple with shifting realities and capitalise on these for all our peoples’ benefit.
    We will create and seize opportunities. Invest in our capabilities.
    This is our region. Its future will be shaped by the choices we make—together.
    Thank you, ngā mihi nui, and dhanyavaad .
     

    MIL OSI New Zealand News –

    March 18, 2025
  • MIL-OSI New Zealand: Consultation on options to strengthen food waste for pigs regulations

    Source: New Zealand Government

    The Government is moving to strengthen rules for feeding food waste to pigs to protect New Zealand from exotic animal diseases like foot and mouth disease (FMD), says Biosecurity Minister Andrew Hoggard.
    ‘Feeding untreated meat waste, often known as “swill”, to pigs could introduce serious animal diseases like FMD and African swine fever, costing billions of dollars to New Zealand’s economy and causing massive disruption to farmers and rural businesses.
    Consultation opened today on new ideas for simplifying and strengthening our protections and I encourage people to have a say’.
    The Biosecurity (Meat and Food Waste for Pigs) Regulations 2005 were introduced to control the feeding of waste food to pigs following an outbreak of FMD in the United Kingdom. It is widely believed that the 2001 UK outbreak was caused by pigs being fed untreated meat products contaminated with the disease.
    The regulations require anyone who feeds food waste to pigs to treat meat-containing food waste by heating it to 100°C for one hour to kill any disease-causing bacteria and viruses.
    “We’ve heard that the regulations are confusing for people who need to follow them. It’s also difficult for the Ministry for Primary Industries (MPI) to verify whether food waste has been treated properly, making it difficult to enforce the regulations.
    Exotic animal diseases could have a severe impact for New Zealand. Modelling of an outbreak of FMD shows an incursion of the disease in New Zealand would have dramatic impacts, with an immediate halt to most exports of animal products and a potential and ongoing drop in export values of around $14.3 billion a year’.
    A discussion document is seeking feedback on four options:

    keeping the status quo, requiring food waste containing meat, or that has had contact with meat, to be treated before being fed to pigs 
    prohibiting feeding any food waste to pigs that contains meat, or that has had contact with meat
    requiring food waste producers to treat food waste before it can be distributed for feeding, removing the risk at source
    prohibiting feeding food waste of any kind to pigs.

    “We want to know what New Zealanders think about the options – particularly those who own pigs, but also farmers and others who would be affected by an outbreak of disease.
    We also want to understand the impacts, anticipated benefits and costs of the options on all parts of the sector, so we can make sure that the final regulations are evidence-based, practical and enforceable.”
    The consultation can be found here and will run until Sunday 27 April 2025.

    MIL OSI New Zealand News –

    March 18, 2025
  • MIL-OSI USA: Grassley Denounces Judicial Overreach, Backs President Trump’s Enforcement of Federal Law

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    BUTLER COUNTY, IOWA – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa), in a letter to Attorney General Pam Bondi, applauded President Donald Trump’s recent memorandum directing federal agencies to enforce the Federal Rule of Civil Procedure 65(c). Under Rule 65, federal courts must require parties seeking a preliminary injunction or temporary restraining order to provide a financial guarantee, which deters frivolous lawsuits and ensures coverage for lost taxpayer dollars when injunctions are later deemed wrongly issued.
    “Over the last few months, I have watched with concern as individual district judges have issued sweeping injunctions that reach far beyond the case or controversy before them,” Grassley wrote. “Exacerbating the problem, however, is that these injunctions have been routinely implemented in violation of federal law.”
    “The rule of law matters. Over the last decade, we have seen chaos unfold when individual district judges determine policy for the whole country. The courts should have been imposing injunction bonds on their own, but because they have failed to so, President Trump is right to demand that the Justice Department remind the courts of their obligations under the Federal Rules,” Grassley continued. 
    Grassley also highlighted the Senate Judiciary Committee’s bipartisan commitment to examining instances of judicial overreach.
    “Democrats and Republicans have both raised concerns about the use of nationwide preliminary injunctions and temporary restraining orders,” Grassley observed.
    “Please know that my colleagues and I in the Senate are watching this issue closely. I will be working to solve the problem of judicial overreach, and in the meantime, commend the Administration’s efforts to enforce existing law,” Grassley concluded.
    Finally, Grassley included a handwritten note to Attorney General Bondi reading, “Pam: This is a very important issue for me! Please take strong action!”
    Read the full letter HERE.
    Background:
    According to a 2023 Harvard Law Review study, from 2001 to 2023, two-thirds of all nationwide injunctions targeted President Trump’s first administration. Nearly all of these injunctions were imposed by judges appointed by Democrat presidents. Since taking office in January 2024, there have been dozens of orders and more than 100 pending lawsuits against President Trump’s second administration.
    Rule 65(c), adopted in 1937, allows courts to issue a preliminary injunction or a temporary restraining order only if the movant posts a security equal to the potential losses from a wrongly issued order. In 2007, the Rules Committee revisited Rule 65 and reaffirmed the mandatory language of the injunction bond. Despite this, federal courts continue to ignore the law. 
    -30-

    MIL OSI USA News –

    March 18, 2025
  • MIL-OSI USA: Attorney General Bonta Defends Rule to Stop the Flood of Robocalls

    Source: US State of California

    Continues fight against annoying and illegal robocalls and robotexts  

    OAKLAND — California Attorney General Bonta today joined 28 attorneys general in submitting an amicus brief in Insurance Marketing Coalition v. FCC, in support of a Federal Communications Commission (FCC) rule which would limit unwanted robocalls and robotexts. The rule in question would close a loophole that allows lead generators to trick a consumer into “consenting” to calls from potentially thousands of companies. Lead generators engage in generating consumer interest on public facing websites with the goal of turning that interest into a sale — in this case, sale of consumer consent to other robocallers or robotexters. The brief defends the regulation, which was recently vacated by the Eleventh Circuit, and argues that it is within FCC’s statutory authority under the Telephone Consumer Protection Act.  

    “Everyone hates robocalls. Robocalls continue to top the list of most frequent consumer complaints across the country, and their annihilation continues to be a nationwide, bipartisan effort,” said Attorney General Bonta. “By closing the lead-generator loophole and putting an end to consent abuse, the Federal Communications Commission’s rule would substantially reduce unwanted telemarketing robocalls that bombard individuals and prohibit telemarketers from selling consumer consent to other callers — this is an essential tool in the effort to protect consumers from unwanted and often illegal robocalls.”

    In 2023, the FTC proposed a rule, supported by Attorney General Bonta and 28 attorneys general, which required that telemarketers and lead generators get specific one-to-one consent from consumers before subjecting them to robocalls or selling their contact information. Specifically, this meant that a consumer could not consent to a telemarketing or advertising robocall unless the consumer consented to calls from one entity at a time; this consent would also only cover subject matter associated with the original call. This rule aimed to both ensure that consent was in response to clear disclosure and to prevent lead generators, texters, and callers from using a single consumer written consent to inundate consumers with unwanted telemarketing robocalls and robotexts from dozens of sellers.

    Robocalls are often a vehicle for scams. For Californians, the impact of illegal and unwanted robocalls can range from a momentary nuisance to serious fraud involving identity theft or life-changing financial losses. Phone calls and text messages are by far the most common contact method for fraud, and in 2023 alone, fraudulent phone calls and texts led to more than $1.2 billion in reported financial losses nationwide, according to the Federal Trade Commission (FTC). Robocalls are typically the number one consumer complaint to the FTC each year. 

    Attorney General Bonta is committed to working to put a stop to illegal robocalls. Attorney General Bonta is part of the Anti-Robocall Multistate Litigation Task Force, a task force of 51 bipartisan attorneys general who investigate and take legal action against those responsible for routing significant volumes of illegal robocall traffic into and across the United States. 

    In 2024, Attorney General Bonta: 

    • Sent warning letters to four telecom companies for transmitting suspected illegal robocall traffic on their networks — including robocalls that impersonated government officials or involved scams.
    • Submitted a comment letter to the FCC in support of its proposed rules to protect consumers by increasing the effectiveness of the FCC’s Robocall Mitigation Database.
    • Sent a warning letter to a telecom company responsible for transmitting suspected illegal robocall traffic, including robocalls that impersonated government officials. 
    • Sent a warning letter to a company that allegedly sent New Hampshire residents scam election robocalls during the New Hampshire primary election. 
    • Filed a comment letter to the FCC related to the potential impact of emerging artificial intelligence (AI) technology on efforts to protect consumers from illegal robocalls or robotexts. 

    In May 2023, Attorney General Bonta, as part of a bipartisan coalition of 49 attorneys general, announced a lawsuit against Avid Telecom for allegedly initiating and facilitating billions of unlawful robocalls that included Social Security Administration scams, Medicare scams, and employment scams. 

    In submitting today’s brief, Attorney General Bonta joins the attorneys general of the District of Columbia, Arizona, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, South Dakota, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin.

    A copy of the brief can be found here.

    MIL OSI USA News –

    March 18, 2025
  • MIL-OSI United Kingdom: UK and EU to ramp up pressure on Russia and boost defence initiatives

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK and EU to ramp up pressure on Russia and boost defence initiatives

    The EU’s High Representative for Foreign Affairs Kaja Kallas will meet the Foreign and Defence Secretaries in London to discuss coordinating cooperation on Ukraine

    • EU foreign affairs chief arrives in London for talks with Foreign and Defence Secretaries as joint efforts intensify to curb Russia’s economy
    • UK-EU foreign policy consultations will focus on united support for Ukraine, countering Russian hybrid threats and working to step up collective defence spending
    • Talks will underline need for a secure and prosperous Europe and UK – a foundation of the Government’s Plan for Change.

    As part of the UK’s commitment to strengthen ties with Europe and work together to secure the region’s future, the EU’s High Representative for Foreign Affairs, Kaja Kallas, will arrive in London today (Tuesday 18 March) for discussions with the Foreign and Defence Secretaries on ways to dial up pressure on Russia and deliver just and lasting peace in Ukraine.

    The talks, part of a new era of UK-EU relations, will coordinate cooperation on Ukraine, and discuss efforts to increase economic pressure and ensure Russia pays for the damage it is causing to Ukraine – as well as stepping up action against hybrid threats, like cyberattacks, election interference and rampant Russian disinformation.

    As part of the Government’s commitment to increase defence spending and keep the British people safe and secure for generations to come, the Foreign Secretary and the High Representative will review efforts to boost European defence spending, including through innovative initiatives, and bolstering wider military readiness in support of NATO. 

    Foreign Secretary David Lammy said:

    A strong and secure Britain is a foundation of our Plan for Change. This cannot be achieved without strengthening our shared European security and coming together with our partners to ensure a just and lasting peace in Ukraine.

    More than three years on since Putin’s illegal full-scale invasion, we are facing a once-in-a-generation moment for our continent. It’s vital we upgrade our partnership with the EU and work together to bring an end to this war and deliver security of all of our citizens.

    The UK and EU – along with other international partners – have already jointly imposed sanctions on Russia, depriving its economy of $450 billion since February 2022. Both have also worked together to train Ukrainian soldiers through the UK’s Operation INTERFLEX and the EU’s Military Advisory Mission to Ukraine, which between them have trained over 120,000 soldiers.

    The Chief of the Defence Staff will also host Kallas for a briefing from The Commander INTERFLEX and the EU’s Liaison Officer for the Military Assistance Mission in support of Ukraine. Discussions will focus on around how to build on the success of Operation INTERFLEX by enhancing the training offered to Ukraine

    Defence Secretary John Healey said:

    This Government is stepping up on European security; deepening our defence relationship with our EU and NATO allies is vital during this critical period.

    European security starts in Ukraine. The UK and EU are united in our resolve to back Ukraine with the military firepower they need to stand up to Russia’s illegal invasion and secure a lasting peace.

    The talks build on the UK’s increased engagement with the EU, after the Prime Minister joined European Council meetings in February and earlier this month, and EU Presidents von der Leyen and Costa attended the Leaders’ Meeting on Ukraine in London.

    Ahead of the first UK-EU Summit on 19 May and the UK-hosted Berlin Process Summit later this year, discussions are expected to also include other areas of cooperation such as stability in the Western Balkans, where both the UK and EU play a leading role in maintaining peace and security.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

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    Published 17 March 2025

    MIL OSI United Kingdom –

    March 18, 2025
  • MIL-OSI Global: Why Americans care so much about egg prices – and how this issue got so political

    Source: The Conversation – UK – By Clodagh Harrington, Lecturer in American Politics, University College Cork

    The price of eggs has risen dramatically in recent years across the US. A dozen eggs cost US$1.20 (92p) in June 2019, but the price is now around US$4.90 (with a peak of US$8.17 in early March).

    Some restaurants have imposed surcharges on egg-based dishes, bringing even more attention to escalating costs. And there are also shortages on supermarket shelves.

    In the coming months, the US plans to import up to 100 million of this consumer staple. Government officials are approaching countries from Turkey to Brazil with enquiries about eggs for export.

    Agriculture secretary Brooke Rollins, who previously said that one option to the crisis was for people to get a chicken for their backyard, suggested in the Wall Street Journal that prices are unlikely to stabilise for some months. And Donald Trump recently shared an article on Truth Social calling on the public to “shut up about egg prices”.

    The main cause of the problem is an outbreak of avian flu that has resulted in over 166 million birds in the US being slaughtered. Around 98% of the nation’s chickens are produced on factory farms, which are ripe for contagion.

    According to the Centers for Disease Control, the flu has already spread to several hundred dairy cattle and to one human. The USDA recently announced a US$1 billion plan to counter the problem, with funding for improved bio-security, vaccine research and compensation to farmers.

    In January 2025, Donald Trump’s White House press secretary, Karoline Leavitt, blamed the previous administration for high egg prices. It is true that birds were slaughtered on President Joe Biden’s watch, but this was and remains standard practice at times of bird flu outbreaks and had also been the case during the Obama and first Trump administrations.

    However, this points to the way the rising price of eggs has become a political touchstone. It was referred to regularly in campaign speeches and press briefings as a sign of things going wrong and a symbol of the US economy faced. Donald Trump promised to fix the price of eggs swiftly if elected, but so far the issue shows no sign of going away.

    Prices are still trending up. Even when prices suddenly drop, as they have this week, the public know how much cheaper they used to be until recently, and do not tend to feel better.

    There are a number of reasons why egg prices have become an important to US politicians. First, almost everyone buys eggs. So the shortage and subsequent price rise is newsworthy and affects consumers in all income brackets.

    Secondly, they are a measure of broader economic vulnerabilities, so egg-related problems tend to be part of a larger story about how weak the economy is. And thirdly, egg prices are political because of Trump’s promise to bring them down.




    Read more:
    US inflation has increased since Trump took office – why prices are unlikely to come down soon


    Polls showed that the economy and inflation were key factors in voter choice on election day 2024. In February 2025, Donald Trump did an interview with NBC News in which he said he won the election on the border and groceries.

    On immigration, voters often base their opinions on what they perceive to be true. For example, tough rhetoric on building a wall may equate with a sense of feeling that the president is taking strong action, whether anything tangible actually materialises or not.

    With groceries, reality trumps perception. The price of eggs is printed on the box and the cost is paid directly by voters.

    Donald Trump on what he’s doing on egg prices and the economy.

    Then there are the egg producers. US farmers tended to overwhelmingly support Trump on election day, so it is prudent for him to feel their pain, or at least appear to. Farming areas voted for him increasingly in his three election efforts, even increasing their support for him in 2020 after trade wars and price increases which would have negatively impacted them.

    Another factor that may push up egg prices is that an estimated 70% of the factory farm workforce is immigrant labour, and as many as 40% are undocumented. Should the administration’s plans for high tariffs and mass deportations come to fruition, the industry would struggle to function.

    Further food price increases will be inevitable, with potential exacerbation via the funding freezes for some USDA programmes that Trump has enacted. As of March 2025, US$1 billion in cuts has been announced, the consequences of which are already being felt by farmers. The “pain now for gain later” message is a tricky political sell.

    Even in the current era of international turbulence, elections are largely won on more pedestrian matters. Specifically, “kitchen-table” economics is relatable to every voter, regardless of how grand, or not, their table is.

    Americans will be aware that in neighbouring Canada, egg prices have not risen dramatically and there have not been shortages. But prices in Canada have been traditionally higher than the US, this is in part at least because farming standards differ.

    The US does not have high welfare standards for agricultural workers or animals, and this shortcoming needs to be addressed in order to help reduce future risk of flu, but this is likely to also raise prices.

    Blaming the previous incumbent is not a durable stance for Donald Trump. As former president Harry Truman might remind him: “The buck stops here.” Right at his desk.

    Clodagh Harrington 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. Why Americans care so much about egg prices – and how this issue got so political – https://theconversation.com/why-americans-care-so-much-about-egg-prices-and-how-this-issue-got-so-political-251752

    MIL OSI – Global Reports –

    March 18, 2025
  • MIL-OSI Global: Fungi are among the planet’s most important organisms — yet they’re overlooked in conservation strategies

    Source: The Conversation – Canada – By Jonathan Cazabonne, Doctorant en mycologie et écologie des vieilles forêts, Université du Québec en Abitibi-Témiscamingue (UQAT)

    Fungi are among the most important organisms on Earth. Even though most of the world’s described 157,000 fungal species are only visible with a microscope, these organisms are essential to our ecosystems, our societies and economies.

    They break down organic matter and interact with all groups of organisms — including other fungi. They’re key actors in forest carbon storage, nutrient cycling, as well as plant growth and resistance to environmental stress.

    Fungi are also important to human cultures — including as a source of food, medicine and art. Economically, fungi also support a growing economy centred around mycotourism — with a growing number of travellers visiting Canada and Spain each year to forage for wild mushrooms.




    Read more:
    Rural communities in Québec are embracing ‘mushroom tourism’ to boost local economies


    All the benefits fungi provide to humans are estimated to be worth the equivalent of US$54.57 trillion. This is why it’s an understatement to say that the world’s ecosystems and human societies are shaped by fungi.

    And yet fungi continue to be an important but overlooked element of conservation strategies.

    Why fungi are forgotten

    Conservation efforts have long focused on protecting well-studied animals and plants. This is reflected in the number of species that have been assigned a conservation status by the International Union for the Conservation of Nature (IUCN).

    Around 84 per cent of known species of vertebrates have received an IUCN conservation status. But just 0.5 per cent of all described fungi — 818 fungal species — are currently present on the IUCN Red List of Threatened Species. Considering scientists estimate that there could be around 2.5 million fungal species in the world — of which we currently only know about six per cent of them — this means just 0.03 per cent of all fungi have been assigned a conservation status.

    Several factors explain this alarming reality.

    Fungi are difficult to study in both nature and under experimental conditions. This is because of many species’ microscopic size, their short lifespan and the hidden habitats they call home — such as soils, the tissues of other organisms and dung deposits.

    Many species of fungi are difficult to study because of their microscopic size.
    (Shutterstock)

    Fungi are also considered “uncharismatic” — meaning they don’t have the level of human appeal that some other species have. Much of their diversity is cryptic, as well. This means that while many fungi were once considered to be a single species, in reality they’re made up of multiple species that may look similar but are genetically distinct from one another. Because of this, conservation projects for fungi are poorly funded and do not easily capture public interest.

    Protecting the unknown

    In recent years, there’s been momentum within the scientific community to recognise fungi as a distinct kingdom within conservation strategies — one that’s on equal footing with animals and plants.

    A significant milestone in this movement has been the adoption of the term “funga,” which mirrors “fauna” and “flora”. This designates the fungal diversity within a given environment or habitat.

    Another important advancement was the recent pledge for fungal conservation that was presented at the 2024 Conference of Parties (COP16) in Colombia. This pledge urged parties to make fungal conservation a priority given fungi are central to achieving the biodiversity targets set out by the Kunming-Montréal Global Biodiversity Framework.

    More local initiatives are also emerging. In Québec, over 70 mycologists and biologists signed an opinion letter encouraging the government to integrate fungi into its legislative framework.

    Such progress is not trivial and may help correct misconceptions about fungi that continue to be present among the public, economic sectors and policymakers. For example, the misconception that fungi are plants is something that still persists to this day. Allowing this misconception to continue being perpetuated is harmful to the field of mycology, and may be preventing it from becoming a standalone discipline that deserves dedicated funding and specialists.

    Still, there’s much we don’t know about these unique, important organisms. And in order for us to be able to protect and preserve the planet’s fungi, we need to begin by formally identifying areas where knowledge is lacking and close these gaps.

    Last year, researchers used Laboulbeniomycetes — a class of poorly understood microfungi — as a case study to understand what biodiversity and conservation shortfalls continue to affect funga. This group of fungi includes species that rely on arthropods to disperse their spores or act as hosts for them. Many of these fungi live as minute parasites on the surface of insects such as cockroaches and ladybirds.

    The case study uncovered four major biodiversity shortfalls that are undermining the conservation of funga. These include knowledge gaps in species diversity, distribution, conservation assessments and species persistence.

    Part of conservation

    Failing to protect fungi means, by extension, failing to protect the roles they play in our ecosystems and daily lives.

    This is especially timely, as fungi, like animals and plants, are also facing numerous threats. Habitat degradation, pollution, invasive species and climate change may all increase their risks of extinction.

    And, as recently exemplified in vertebrates, many undescribed species of fungi may be even more at peril than we might know. This is because they’re most likely to be found in remote geographical regions — such as tropical rainforests — and thus heavily susceptible to human-induced changes.

    A key priority to better integrate fungi into conservation biology is to accumulate data on species diversity. But in order to accumulate data and understand how we can better protect fungal species worldwide, we need to fund research on fungi and make mycology a more attractive field for young scientists.

    One thing remains certain: the more we explore, the more we realise just how little we know.

    Jonathan Cazabonne is financially supported by a B2X doctoral research fellowship from the Fonds de Recherche du Québec – Nature et technologies (FRQNT).

    Danny Haelewaters receives funding from the Czech Academy of Sciences (Lumina Quaeruntur Fellowship LQ200962501).

    – ref. Fungi are among the planet’s most important organisms — yet they’re overlooked in conservation strategies – https://theconversation.com/fungi-are-among-the-planets-most-important-organisms-yet-theyre-overlooked-in-conservation-strategies-250483

    MIL OSI – Global Reports –

    March 18, 2025
  • MIL-OSI United Nations: Giving Women Jobs ‘Smartest, Fastest’ Way to Grow Economy, Commission Told

    Source: United Nations General Assembly and Security Council

    The Commission on the Status of Women entered its second week today with an interactive dialogue on inclusive development, shared prosperity and decent work.  Speakers emphasized the urgency of turning gender equality commitments into concrete, actionable policies to ensure women have equal opportunities to improve their employment prospects and livelihoods.

    The Commission’s two-week annual session focuses on accelerating the implementation of the Platform for Action adopted at the 1995 conference on women in Beijing, where world leaders pledged to achieve gender equality and uphold women’s rights.  Discussions also focus on contributing to the achievement of the Sustainable Development Goals (SDGs).

    Women Friendly Tax Administration

    Diane Elson, Emeritus Professor of Sociology at the University of Essex, England, said that systemic barriers to women’s enjoyment of decent work include discrimination in hiring, misogyny, sexual harassment, violence in the workplace and lack of investment to reduce and redistribute unpaid work.  “Unfortunately, some of these barriers are actually intensifying in some countries, where there are now attempts to wipe from the record the gains that women and ethnic minorities and other minorities have made,” she said.  However, there are many things that can be done.  While inclusive development policies tend to garner wide support, there are many forms of inclusion that are impoverishing and exploitative.  It is therefore important to focus on “rights at work as well as the right to work, and to understand that economic growth does not necessarily create more jobs,” she stressed.  To that end, it is critical to improve women friendly tax administration systems for filing taxes.  “We need the elimination of tax breaks that do not increase investment and productivity and serve only to reduce tax payments for well off people and businesses,” she said.

    Access to Technology Training Key to Empowering Women  

    Corina Rodriguez, researcher at the National Council of Research and the Interdisciplinary Centre for the Study of Public Policy in Buenos Aires, Argentina, said that artificial intelligence (AI) and digitalization presents many opportunities to reduce gender disparities but also creates challenges and presents risks.  Technology might lead to a displacement of the working population to get cheaper labour, particularly in certain sectors where women are overrepresented, and those perhaps where the qualifications are lower.  Technology creates new employment opportunity in design, in goods and services, technological services, logistics, customer care — opportunities that women can seize.  “But it depends, of course, on whether they’re able to first access training in these careers,” she said.  “Women are under much more time pressure, because in addition to work, they have to very often care for other members of the family,” she said.  It is essential to ensure that women do not “fall into the work trap” and take on additional hours without additional pay while also having to balance numerous other responsibilities. 

    Lekha S. Chakraborty, Professor at National Institute of Public Finance and Policy (NIPFP) in New Delhi, India, called on Governments to “move beyond the paradigm” of the gross domestic product (GDP).  “The fiscal policy space is shrinking,” she went on to underscore, noting that funds to women’s programmes have been substantially cut in the post-pandemic landscape.  However, it still remains true that the “smartest and fastest” way to increase GDP is to have women involved in economic growth through employment and empowerment.  “There are challenges with the care economy infrastructure,” she emphasized, spotlighting a sector of the economy where women are overrepresented.  In the post-pandemic paradigm “conscious public policy decisions are crucial”, she added.  Gender-responsive budgeting should not be confined solely to “what is specifically targeting women”.  She discussed the connection between gender bonds and fiscal policy, stating that in countries with high fiscal deficits, internal bond financing could be tied to gender equality outcomes.  However, she cautioned against linking bond financing to external funding, as it is subject to external factors, which carry inherent risks.  She emphasized that there are innovative approaches to addressing this issue.  “Public financial management reforms for climate change are currently under way without being tied to a job guarantee,” she added.

    Gender Mainstreaming

    Barbara Ky, director of gender at the West African Economic and Monetary Union, discussed how the Union is working to translate gender perspective and gender equality commitments into practical public policies that can be implemented by Governments and thereby enhance women’s employment prospects and livelihoods.  The Union has developed guidelines, digital tools and information technology procedures that are carried out by the sectoral ministry in each of the Union’s member country.  Public policy is based on goals that will integrate a gender perspective.  “This requires mainstreaming the gender perspective and integrating it into every stage of planning, programming, budgeting and implementation,” she said.  At the highest level all documents prepared by Government ministries should include a gender-related aspect “so that public policy is truly permeated by an awareness of these issues and gender has to be taken into account from the initiative of the process,” she said.  For example, to address the issue of women’s unpaid employment, the hours that women spend bringing water to the household, compared with men, has been assessed.  Planning programmes need to be aware of women’s contributions.

    Women Spend 4.5 Hours Daily on Unpaid Care Work

    Marija Babovic, a professor affiliated with the University of Belgrade, shared her perspective on the sustained negative impact that unpaid work has on women’s employment, income and economic security.  These negative impacts are increasing as more women work in unpaid care and in unprotected domestic work.  She noted that while in developed countries many women have entered the formal labour market since the 1970s, women and girls still provide more than three fourths of the unpaid care work around the world.  For example, women spend 4 hours and 25 minutes each day on these activities while men spend 1 hour and 23 minutes each day on the same type of activities.  More than 600 million women are working outside the paid labour force because of their care responsibilities, compared with 41 million men.  “Unpaid work lowers women access to the labour market and paid work and is a factor in their higher financial poverty and time poverty,” she said.  The paid care economy accounts for 11.5 per cent of the global economy, including jobs in such areas as childcare, disability care, aged care and paid domestic work.  However, “across the world, paid care work remains characterized by a lack of rights, benefits or protections, low wages or non-compensation,” she said, adding that some women are subject to physical, mental and even sexual harassment.

    The discussion was moderated by Anita Kemi DaSilva-Ibru, founder of the Women at Risk International Foundation (WARIF), a leading non-profit organization that addresses the prevalence of sexual violence in Nigeria and Africa.

    The Commission also held a second interactive dialogue this afternoon on poverty eradication, social protection, and social services.

    __________

    *     The 12th meeting was not covered.

    MIL OSI United Nations News –

    March 18, 2025
  • MIL-OSI: Home BancShares, Inc. Announces First Quarter Earnings Release Date and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    CONWAY, Ark., March 17, 2025 (GLOBE NEWSWIRE) — Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, today announced it expects to release First Quarter 2025 earnings after the market closes on April 16, 2025. Following this release, management will conduct a conference call to review these earnings at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, April 17, 2025.

    We strongly encourage all participants to pre-register for the conference call webcast or the live call using one of the following links. First, participants can pre-register for the conference call webcast using the following link: https://events.q4inc.com/attendee/447517977. Participants who pre-register will be given a unique webcast link to gain immediate access to the conference call webcast. Second, participants can pre-register for the live call using the following link: https://www.netroadshow.com/events/login?show=a44e9900&confId=79637. Participants who pre-register will be given the phone number and unique access codes to gain immediate access to the live call. Participants may pre-register now, or at any time prior to the call, and will immediately receive simple instructions via email. The Home BancShares conference call will also be scheduled as an event in your Outlook calendar.

    Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-833-470-1428, Passcode: 947933. A replay of the call will be available by calling 1-866-813-9403, Passcode: 685290, which will be available until April 24, 2025, at 11:59 p.m. CT. Internet access to the call will be available live or in recorded version on the Company’s website at www.homebancshares.com.

    Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama, Texas and New York City, with branches in Texas operating as Happy State Bank, a division of Centennial Bank. The Company’s common stock is traded through the New York Stock Exchange under the symbol “HOMB.”

    FOR MORE INFORMATION CONTACT:
    Home BancShares, Inc.
    Donna Townsell
    Senior Executive Vice President &
    Director of Investor Relations
    (501) 328-4625
    Ticker symbol: HOMB

    The MIL Network –

    March 18, 2025
  • MIL-OSI: PIMCO Canada Corp. Announces Quarterly Distributions for PIMCO Canada Exchange Traded Series

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to United States newswire services or for dissemination in the United States

    TORONTO, March 17, 2025 (GLOBE NEWSWIRE) — PIMCO Canada Corp. (“PIMCO Canada”) today announced the 2025 first quarter cash distributions for the ETF series (“ETF Series”) of the PIMCO Canada mutual funds that distribute quarterly (“Funds”). Unitholders of record of the ETF Series, at the close of business on March 21, 2025, will receive a per-unit cash distribution payable on or about March 31, 2025.

    Details of the per-unit cash distribution amounts are as follow:

     Fund Name  Ticker Cash Distribution per Unit
     PIMCO Managed Conservative Bond Pool  PCON $0.15106 
     PIMCO Managed Core Bond Pool  PCOR $0.15602 
     PIMCO Canadian Core Bond Fund  CORE $0.15218 

    The Manager, PIMCO Canada, administers and manages the PIMCO Canada ETFs, and retains Pacific Investment Management Company LLC (“PIMCO”) to provide sub-advisory services to the Funds.

    About PIMCO

    PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, drawing upon our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

    Forward-Looking Statements

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Funds. The forward-looking statements are not historical facts but reflect the Funds’, PIMCO Canada’s and/or PIMCO’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, market factors. Although the Funds, PIMCO Canada and/or PIMCO believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Funds, PIMCO Canada and/or PIMCO undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other factors which affect this information, except as required by law.

    No offering is being made by this material. Interested investors should obtain a copy of the prospectus, which is available from your Financial Advisor.

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    All investments contain risk and can lose value. For a summary of the risks of an investment in a specific fund, please see the Funds prospectus.

    The Fund’s distribution rates may be affected by numerous factors, including but not limited to changes in realized and projected market returns, fluctuations in market interest rates, Fund performance, and other factors. There can be no assurance that a change in market conditions or other factors will not result in a change in the Fund’s distribution rate or that the rate will be sustainable in the future.

    For instance, during periods of low or declining interest rates, the Fund’s distributable income and distribution rate may decline for many reasons. For example, the Fund may have to deploy uninvested assets (whether from purchases of Fund units, proceeds from matured, traded or called debt obligations or other sources) in new, lower yielding instruments. Additionally, payments from certain instruments that may be held by the Fund (such as variable and floating rate securities) may be negatively impacted by declining interest rates, which may also lead to a decline in the Fund’s distributable income and distribution rate.

    Funds can offer different series, which are subject to different fees and expenses (which may affect performance), having different minimum investment requirements and are entitled to different services.

    The products and services provided by PIMCO Canada may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose.

    PIMCO Canada has retained PIMCO LLC as sub-adviser. PIMCO Canada will remain responsible for any loss that arises out of the failure of its sub-adviser.

    PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world. ©2025, PIMCO

    PIMCO Canada Corp. 199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2, 416-368-3350

    Contact:
    Agnes Crane
    PIMCO – Media Relations Phone: +212 597.1054

    The MIL Network –

    March 18, 2025
  • MIL-OSI: Nioko Resources Files Early Warning Report in Respect of Orezone Gold Corporation

    Source: GlobeNewswire (MIL-OSI)

    OUAGADOUGOU, Burkina Faso, March 17, 2025 (GLOBE NEWSWIRE) — This news release is issued by Nioko Resources Corporations (“Nioko Resources”) pursuant to the early warning requirements of Canada’s National Instrument 62-104 (“NI 62-104”) and National Instrument 62-103 with respect to common shares (the “Common Shares”) of Orezone Gold Corporation (“Orezone”), a reporting issuer in each of the Provinces and Territories of Canada with a head office at 450-505 Burrard St., Vancouver, British Columbia, V7X 1M3.

    Pursuant to a binding subscription agreement dated March 17, 2025 (the “Subscription Agreement”), Nioko Resources has acquired deemed beneficial ownership (in accordance with section 1.8 of NI 62-104) of 10,719,659 Common Shares (the “Acquired Shares”) to be issued from treasury at a price of C$0.82 per Acquired Share for aggregate consideration of C$8,790,121.38 (the “Equity Financing”).

    Immediately prior to entering into the Subscription Agreement, Nioko Resources held 92,743,855 Common Shares of Orezone representing approximately 18.2% of the issued and outstanding Common Shares.

    Immediately following the entering into of the Subscription Agreement, the Acquiror has acquired deemed beneficial ownership (determined in accordance with NI 62-104) of 10,719,659 Common Shares, expected to represent approximately 2.0% of the issued and outstanding Common Shares on closing of the Equity Financing.

    The total holdings in the Common Shares of Orezone held by the Acquiror post-closing of the Equity Financing will represent approximately 19.9% of the issued and outstanding Common Shares.

    Nioko Resources is acquiring the Acquired Shares for investment purposes. Depending on market and other conditions, Nioko Resources may increase or decrease its beneficial ownership, control or direction over Common Shares through market transactions, private agreements, treasury issuances, exercise of options, warrants, convertible securities or otherwise, in each case as investment conditions warrant.

    An early warning report (the “Report”) disclosing the acquisition of the deemed beneficial ownership of the Acquired Shares under the Equity Financing will be filed on Orezone’s SEDAR+ profile at www.sedarplus.ca and can be obtained from Nioko Resources, Ouagadougou, Secteur 54, Parcelle 02, Lot 17, Section 281(I), S/C 01 BP 2061, Ouagadougou 01, Burkina Faso, attention: Director General, by phone: (+226) 70 21 70 04 or by email: direction_generale@niokoresources.com.

    About Nioko Resources Corporation

    Nioko Resources is a West African investment group focused on regional growth.

    Forward-Looking Statements

    This news release may contain “forward-looking statements” within the meaning of applicable securities legislation, including statements regarding the filing of the Report and the disposition or acquisition of additional Common Shares or other securities of Orezone by Nioko Resources. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Except as required by law, Nioko Resources disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

    The MIL Network –

    March 18, 2025
  • MIL-OSI USA: Peters Statement on Vote to Prevent Government Shutdown

    US Senate News:

    Source: United States Senator for Michigan Gary Peters
    Published: 03.14.2025

    WASHINGTON, DC – U.S. Senator Gary Peters (D-MI) released the following statement on his vote to allow debate to proceed on the continuing resolution to prevent a government shutdown: 
    “Under a normal administration, a government shutdown would be devastating to families in Michigan and across the country who count on federal programs for health care, veterans’ benefits, and small business loans. Shutdowns are also incredibly damaging, the last shutdown cost the U.S. economy $11 billion. Make no mistake, a shutdown under President Trump right now would be catastrophic.  
    “A government shutdown would give President Trump, Elon Musk, and Office of Management and Budget Director Russ Vought unchecked power to continue their illegal campaign of dismantling agencies that provide services Americans need. In a shutdown, the President and OMB have ultimate control over which parts of the government stay open and which workers stay on the job – and I know their decisions would not be in the best interests of the American people.  
    “In a shutdown, the Trump Administration would be emboldened to deem countless more federal workers as non-essential, making those civil servants prime targets for future rounds of mass layoffs. This action will make our country less safe and make it much harder for Americans to access programs they count on.   
    “When the first Trump Administration shut down the government, they repeatedly broke the law. This time, they would take it even further. A shutdown would also give them free rein to keep some agencies closed indefinitely – including the Department of Education, Environmental Protection Agency, Consumer Financial Protection Bureau, and more.   “This is a difficult choice, but with the deadline quickly approaching, I believe Congress must do its most basic job to keep the lights on. I voted to move this process forward and give the Senate a chance to take a vote so that agencies remain open and providing services, independent watchdogs can stay on the job, and Democrats can keep fighting in both Congress and in the courts to stop Republican tax cuts for billionaires and President Trump’s harmful agenda.” 

    MIL OSI USA News –

    March 18, 2025
  • MIL-OSI United Nations: Funding shortages risk undermining a ‘watershed moment’ for Syria

    Source: United Nations MIL OSI b

    By Vibhu Mishra

    17 March 2025 Humanitarian Aid

    Fourteen years of war have left Syria’s people in desperate need – but international support is dwindling, UN Secretary-General António Guterres warned on Monday, calling for urgent investment in the country’s recovery.

    In a video message to the conference Standing with Syria: Meeting the Needs for a Successful Transition, organized by the European Union in Brussels, he underlined the gravity of the situation.

    “This is a watershed moment,” said the UN chief, stressing that the future of Syria depends on ensuring access to food, shelter, healthcare and sustainable livelihoods.

    Over two-thirds of the population requires humanitarian assistance. However, critical aid efforts are in jeopardy due to severe underfunding.

    The $1.25 billion UN-coordinated humanitarian response for the country is only 12.5 percent funded, with vital sectors such as shelter, non-food relief, water and sanitation, and agriculture and nutrition suffering from lack of resources.

    Reconsider funding cuts

    Mr. Guterres underscored the need for support from the international community.

    Donors must urgently expand humanitarian support and reconsider funding cuts, he said. They must also invest in Syria’s recovery – including addressing sanctions and other restrictions – alongside helping an orderly and inclusive political transition.

    “Let us work together to help the people of Syria as they take these momentous next steps in their journey towards a free, prosperous and peaceful future,” he added.

    © UNHCR/Ximena Borrazas

    People cross back into Syria from Lebanon through the Masnaa border point.

    Commentary aside

    UN Emergency Relief Coordinator Tom Fletcher reinforced the Secretary-General’s call for action, warning that humanitarian operations face a severe funding gap.

    “The people of Syria do not need us to be commentators and problem observers – they need us to move with urgency,” he said.

    Despite these challenges, the UN has expanded its reach, delivering aid to millions, including areas previously inaccessible due to conflict.

    More humanitarian convoys have entered Syria from Türkiye this year than in all of 2024, and assistance is now reaching former frontline areas in rural Idlib, Latakia and Aleppo. However, ongoing funding cuts threaten these gains, with essential services at risk of collapse.

    “After so long waiting for hope, the people of Syria…expect us to meet this moment with decisive action, with generosity and with solidarity. The price of failure will be much greater for all of us than the cost of success,” he warned.

    Refugees returning, but to what?

    Filippo Grandi, UN High Commissioner for Refugees, highlighted a significant shift – the return of Syrian refugees.

    Since the fall of the Assad regime in December 2024, more than one million displaced Syrians have returned home, including 350,000 from neighbouring countries. Surveys suggest that up to 3.5 million more could return in the coming months.

    However, Mr. Grandi cautioned that without adequate support, these returns may not be sustainable.

    “If we fail to help them stay in Syria, make no mistake: the impact will be disastrous,” he said, warning that refugees unable to rebuild their lives may be forced to leave again.

    © UNFPA/Verity Kowal

    In Damascus, UNFPA Director Arakaki listens to women affected by conflict in Syria talk about their situations and the support they need.

    Healthcare, protection for women at risk

    Meanwhile within Syria, the humanitarian crisis remains acute, especially for women and girls.

    Having concluded a mission to the country, Shoko Arakaki, Humanitarian Director at the UN Population Fund (UNFPA) highlighted the devastating impact of war on Syria’s healthcare system, with four in ten hospitals damaged or destroyed.

    Lack of resources have further complicated the situation and recent funding cuts have forced the closure of over 100 UN-supported health facilities in northwest Syria.

    She warned that gender-based violence has become “normalised” after years of conflict, but financial constraints may force UNFPA to withdraw support for protection efforts such as safe spaces for women.

    “Women and youth in Syria still need our support,” she stressed, urging donors to invest in healthcare, protection, livelihoods and education.

    Hope amid the apprehension

    “These are deeply uncertain times for Syria,” she said, adding that in the midst of apprehension, she sensed a feeling of hope.

    She noted her meetings with “extraordinary women” providing lifesaving reproductive health services, protecting survivors of violence, offering vocational training – even while they themselves are vulnerable.

    “[I felt] hope in the Syrian people who are defying the odds to help each other, despite immense hardship,” she added.

    MIL OSI United Nations News –

    March 18, 2025
  • MIL-OSI United Nations: World News in Brief: US strikes on Yemen, Gaza aid update, debt burden weighs on developing world

    Source: United Nations 4

    17 March 2025 Peace and Security

    The UN on Monday expressed concern over the continued threat posed to shipping in the Red Sea by Houthi attacks from their bases in Yemen as well as recent airstrikes by the United States which have left over 50 reportedly dead.

    In a statement released to correspondents in New York, the UN denounced the Houthis’ targeting of merchant and commercial vessels in the key waterway which includes the Suez Canal and reported attacks against military vessels.

    The UN is concerned about the continued threats by the Houthis to resume their attacks targeting merchant and commercial vessels in the Red Sea, as well as about their reported attacks against military vessels in the area, calling for “full freedom of navigation.”

    US strikes

    “We reiterate our concern at the launching of multiple strikes on Houthi-controlled areas in Yemen by the United States in recent days,” the statement continued.

    “According to the Houthis, the airstrikes over the weekend resulted in 53 deaths and 101 injuries, reported from Sana’a City, Sa’ada and Al Baydah governorates, including reports of civilian casualties, and led to disruptions in the power supply in nearby localities.”

    The Houthis who control large swathes of Yemen including the capital, began targeting Israeli-linked shipping in the waterway out of solidarity with Hamas and the Palestinian people, following the start of the war in Gaza in October 2023. Last week they said attacks would resume due to the continuing aid blockade of the enclave.

    The UN called for restraint on all sides and an end to “all military activities”

    “Any additional escalation could exacerbate regional tensions, fuel cycles of retaliation that may further destabilize Yemen and the region and pose grave risks to the already dire humanitarian situation in the country,” the statement continued.

    It emphasised that international law must be respected by all parties, including Security Council resolution 2768 (2025) related to Houthi attacks against merchant and commercial vessels.

    Top envoy urges restraint

    UN Special Envoy, Hans Grundberg, has been in close contact with Yemeni, regional and international stakeholders in recent days.

    “He has called for utmost restraint and adherence to international humanitarian law, and he has pushed for a refocus on diplomacy to avoid uncontrollable destabilization in Yemen and in the region. Further contacts are held by his office on numerous levels,” said UN deputy spokesperson Farhan Haq.

    Mr. Grundberg called for support from the international community so that UN-led mediation efforts can “deliver results”.

    Gaza: Israeli blockade continues to hamper relief efforts

    The UN Children’s Fund (UNICEF) warned on Monday that nearly all the 2.4 million children in the occupied Palestinian territory have been affected by the ongoing conflict and violence.

    UNICEF Middle East and North Africa Regional Director Edouard Beigbeder expressed deep concern at the situation in Gaza at the end of a four-day assessment mission.

    He said that roughly one million children now live without the very basics they need to survive because of the Israeli aid blockade.

    This includes more than 180,000 doses of essential childhood routine vaccines, enough to fully vaccinate and protect 60,000 children under two, as well as 20 lifesaving ventilators for neonatal intensive care units.

    It has now been more than two weeks since Israeli authorities closed all crossings into Gaza.

    Olga Cherevko from UN aid coordination office, OCHA, reminded that when the ceasefire began “we were able to deliver life-saving support to hundreds of thousands of families.”

    They also “delivered hope” – but that is now turning into fear and concern: “Time is not on our side. It is imperative that the flow of supply is restored. Aid must be allowed to enter.”

    Prices surging

    The World Food Programme (WFP) reported that aid crossing closures have led to a surge in prices. This month, the cost of cooking gas soared by up to 200 per cent compared to February and is now only available on the black market.

    Aid partners are also reporting a lack of cash. “Shop owners are unable to restock or pay their suppliers. The situation is particularly acute in North Gaza and Khan Younis,” said deputy UN spokesperson Farhan Haq.

    “Despite the suspension of cargo entering Gaza, the UN and its partners continue to provide life-saving services for as many vulnerable people as possible.

    More than 3,000 children have been screened by aid partners for malnutrition across Gaza in the past two weeks and only a small number of cases of acute malnutrition have been identified, Mr. Haq added.

    But they warn that the situation could worsen if the halt on aid into Gaza continues.

    UNICEF says large quantities of critical supplies are stalled just a few dozen kilometres outside the Strip, including 20 ventilators for neonatal intensive care units and more than 180,000 doses of essential childhood routine vaccines.

    Interest payments outweigh climate investments in almost all developing countries

    Finally, a warning from UN economists at UNCTAD that almost all developing countries pay more in interest on their debts than essential climate resilience investments.

    UNCTAD chief Rebeca Grynspan said that today’s global financial architecture comes at a high cost to developing countries who suffer from chronic under-investment.

    There is still no universal safety net to shield countries from external shocks, or any multilateral financial system to provide affordable long-term resources at scale, Ms. Grynspan continued.

    UNCTAD data shows that 3.3 billion people live in countries that spend more on servicing their debt than on health or education.

    In 2023, the average developing country spent 16 per cent of their export earnings to service their debt, which is more than three times the limit set for Germany’s post-war reconstruction, Ms. Grynspan explained at the start of the UN agency’s International Debt Management Conference seeking solutions for the management of public debt, transparency and good governance.

    MIL OSI United Nations News –

    March 18, 2025
  • MIL-OSI Australia: Bill busting upgrades for Canberra’s social housing residents

    Source: Government of Australia Capital Territory

    As part of ACT Government’s ‘One Government, One Voice’ program, we are transitioning this website across to our . You can access everything you need through this website while it’s happening.

    Released 03/03/2025 – Joint media release

    Up to 7,500 households in the nation’s capital will benefit from bill busting energy upgrades, with the Albanese Government investing $12.9 million for rooftop solar and batteries across social housing in the ACT.

    The program will bring down energy bills for good using Virtual Power Plants (VPP) to connect and combine renewable energy resources. By joining a VPP, households with solar panels and batteries can access savings on their energy bills.

    This is lasting cost of living relief by ensuring some of the most vulnerable households are better insulated from bill shock, with homes that are fitted out to stay cool in the summer and warm in the cold Canberra winters.

    The ACT Government will provide a greater weighting through the procurement process for products that are Australian made.

    The new funding is part of the Commonwealth’s $500 million expansion of the Social Housing Energy Performance Initiative (SHEPI) and will enable more than 100,000 social housing properties across Australia – almost 25% of the country’s social housing stock – to save on energy bills and reduce emissions.

    Upgrades delivered under the Social Housing Energy Performance Initiative could save tenants around $1,800 on their energy bills each year.

    Quotes attributable to Minister for Climate Change and Energy Chris Bowen:

    “The Albanese Labor Government is bringing down bills for good through the renewable energy transformation.

    “While Peter Dutton’s Coalition spruiks a $600 billion nuclear scheme that will prolong coal, make bills more expensive, risk blackouts and shrink our economy, we are delivering the clean, cheap, reliable and resilient energy system that Australians deserve.”

    Quotes attributable to Assistant Minister for Climate Change and Energy Josh Wilson:

    “Every Australian deserves a home that is safe to live in, comfortable and cheaper to run, and energy efficiency upgrades can make a real difference to these outcomes.

    “After the recent hot weather and knowing the challenge of winter is ahead, we’re reminded of just how vital these upgrades are in bringing year-round comfort and lowering bills to some of the most vulnerable households.”

    Quotes attributable to Minister for Homes and New Suburbs Yvette Berry:

    “Every Canberran should have access to safe, secure, and affordable housing.

    “Today’s announcement builds on our ongoing commitment to improve the comfort and energy affordability of public housing. Our new public housing builds maximise energy efficiency, including a 6-star energy rating and energy efficient appliances.

    “The existing public housing stock is also being upgraded through the Home Energy Support Program, with ceiling insulation and or electrification upgrades already completed in over 2,500 properties since the program began in 2023.

    “The latest SHEPI funding marks a further investment in public housing, that is critically important to our community’s overall economic and social wellbeing.”

    Quotes attributable to Minister for Climate Change, Environment, Energy and Water, Suzanne Orr:

    “The ACT Government is committed to ensuring no Canberrans are left behind as we transition to net zero. We welcome this significant further investment by the Australian Government which will see rooftop solar panels and batteries installed at thousands of social housing properties.

    “These solar and battery systems will be operated as a Virtual Power Plant, delivering an innovative and long-term solution to reducing electricity costs and supporting grid reliability.”

    – Statement ends –

    Yvette Berry, MLA | Suzanne Orr, MLA | Media Releases

    «ACT Government Media Releases | «Minister Media Releases

    MIL OSI News –

    March 18, 2025
  • MIL-OSI Security: Baltimore Man Sentenced to Federal Prison for Role in Maryland Unemployment Insurance Scheme

    Source: United States Department of Justice (National Center for Disaster Fraud)

    Defendant obtained people’s personal information to file false and fraudulent unemployment insurance claims.

    Baltimore, Maryland – Today, U.S. District Judge Julie R. Rubin sentenced Devante Smith, 30, of Baltimore, Maryland, to 57 months in prison followed by three years of supervised release, in connection with his role in an unemployment insurance fraud scheme. Through the conspiracy, victims lost at least $298,685. 

    Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the sentence with Special Agent in Charge Troy W. Springer, National Capital Region, U.S. Department of Labor’s Office of Inspector General (DOL-OIG), and Special Agent in Charge William J. DelBagno of the Federal Bureau of Investigation – Baltimore Field Office.

    According to the guilty plea, beginning in June of 2020, and continuing through at least May 2021, Smith engaged in a conspiracy to defraud and obtain money under fraudulent pretenses in connection with an unemployment insurance scheme.  Smith obtained personal identifiable information of identity victims to fraudulently file claims for unemployment insurance with the Maryland Department of Labor (MD-DOL).

    Smith and his co-conspirators used the unemployment insurance benefits, which were designated to assist persons who were unemployed or underemployed due to the COVID-19 national emergency, for their own personal use. Additionally, Smith and co-defendant Tiia Woods, 47, of Jacksonville, Florida, stole identification cards, social security cards, and/or birth certificates from identity victims, to submit with fraudulent UI applications to MD-DOL.

    The Coronavirus Aid, Relief, and Economic Security (CARES) Act — a federal law enacted in March 2020 — provided emergency financial assistance to Americans suffering from the economic effects of the COVID-19 pandemic. The CARES Act authorized increased unemployment insurance (“UI”) benefits.  UI benefits have historically been a state and federal program that provided monetary benefits to eligible workers.  The CARES Act expanded states’ ability to provide UI benefits for many workers impacted by COVID-19, including self-employed workers or independent contractors, who would not normally be eligible for UI benefits. 

    The District of Maryland Strike Force is one of five strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud, including fraud relating to the CARES Act. The CARES Act was designed to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic.  The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors.  The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds.

    For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.  Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    U.S. Attorney Hayes commended the DOL-OIG and FBI, along with Bank of America – Detection and Complex Investigations Fraud Rings and Analytics, for their work in the investigation.  Ms. Hayes also thanked Assistant U.S. Attorneys Evelyn Lombardo Cusson and Harry M. Gruber who prosecuted the federal case

    For more information on the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

    # # #

    MIL Security OSI –

    March 18, 2025
  • MIL-OSI: Natural Gas Services Group, Inc. Reports Fourth Quarter and Year-End 2024 Financial and Operating Results; Provides 2025 Guidance

    Source: GlobeNewswire (MIL-OSI)

    Midland, Texas, March 17, 2025 (GLOBE NEWSWIRE) — Natural Gas Services Group, Inc. (“NGS” or the “Company”) (NYSE:NGS), a leading provider of natural gas compression equipment, technology, and services to the energy industry, today announced financial results for the three months and year-ended December 31, 2024. The Company also provided guidance for its full year 2025, anticipating significant top- and bottom-line growth with strong momentum moving into 2026.

    Fourth Quarter and Full Year 2024 Highlights

    • Rental revenue of $38.2 million for the fourth quarter and $144.2 million for the full year 2024, representing increases of 21% and 36%, respectively, compared to the prior year comparable periods.
    • Net income of $2.9 million or $0.23 per diluted share for the fourth quarter and $17.2 million or $1.37 per diluted share for the full year 2024, representing increases of 68% and 263%, respectively, compared to the prior fourth quarter and full year 2023 periods.
    • Cash flow generated from operating activities of $9.4 million for the fourth quarter and $66.5 million for the full year 2024. This compares to net cash used in operating activities of $7.7 million for the fourth quarter and cash generated of $18.0 million for the full year 2023.
    • Adjusted EBITDA of $18.0 million for the fourth quarter and $69.5 million for the full year 2024; 2024 Adjusted EBITDA was 52% higher than 2023 and represented the highest level in the Company’s history. Please see Non-GAAP Financial Measures – Adjusted EBITDA, below.

    Management Commentary and Outlook

    “2024 was a transformational year for Natural Gas Services Group as we executed against our strategic objectives and significantly improved our market presence and financial performance,” stated Justin Jacobs, Chief Executive Officer. “During the year, we enhanced our team and infrastructure, further diversified and expanded our customer base, organically expanded into large horsepower electric units, maintained our industry-leading service levels, and materially increased the size of our overall fleet. I am quite proud of the NGS team as their unwavering dedication to our customers and their passion to excel are the driving forces of our results.”

     “2024 was also a record year for NGS as our utilized rental fleet approached 500,000 horsepower and our Adjusted EBITDA increased by over 50% compared to 2023. Equally important, our business became significantly more capital efficient: our total debt increased by only $6 million over the course of 2024 and our leverage declined from 2.53x at the end of 2023 to 2.36x at 2024 year-end. The reduction of working capital was a material driver in the improvement in capital efficiency, and we believe there is more opportunity to monetize non-cash assets in the near term.”

    “Looking forward, we see continued strength in the market. We believe our organic growth rate leads the industry and we are taking market share. This was made possible by the hard work of our service technicians and field service team, our leading compressor technology, and strong partnerships with our customers. We expect 2025 will be another year of significant growth in new large horsepower units and we have already signed material new unit contracts for 2026. We are excited for the future and believe we are well positioned to continue to increase shareholder value.”

    Corporate Guidance – 2025 Outlook

     In November 2024, the Company noted it expected 2024 Adjusted EBITDA to be in the range of $67 – $69 million, total growth capital expenditures for the year to be in the range of $65 – $75 million, and total maintenance expenditures for the year to be in the range of $8 – $11 million. For the full year 2024, the Company reported Adjusted EBITDA of $69.5 million, growth capital expenditures of $60.5 million and maintenance capital expenditures of $11.4 million. Additionally, as of December 31, 2024, rented horsepower stood at 491,756, representing year-over-year growth of 17%.

    The Company today provides the following commentary regarding its financial expectations for the 2025 Fiscal Year. For the year ending December 31, 2025, the Company expects growth capital expenditures, which are mostly comprised of new units (essentially all of which are under contract), to be in the range of $95 – $120 million. Once all these units are deployed with customers, which is expected by early 2026, the Company expects its rented horsepower to increase by approximately 90,000 horsepower, which represents an increase of approximately 18% versus year-end 2024. The timing of unit deployments is very heavily weighted to the second half of 2025 and early 2026. Accordingly, the majority of the impact of 2024 and 2025 growth capital expenditures will start to be reflected in Adjusted EBITDA in the second half of 2025 and the first quarter of 2026.

    Based on the timing of contractual orders and deployments in 2025, the Company expects 2025 Adjusted EBITDA to be in the range of $74 – $78 million, which at the mid-point of the range, represents a 9% increase over 2024. This range is reflective of the timing of anticipated unit deployments.

      Outlook
    FY 2025 Adjusted EBITDA $74 – $78 million
    FY 2025 Growth Capital Expenditures $95 – $120 million
    FY 2025 Maintenance Capital Expenditures $10 – $13 million
    Target Return on Invested Capital At least 20%

    The Company further notes that once all the 2025 growth capital expenditures are spent and the units are deployed, its “run rate” Adjusted EBITDA should increase at a rate (when compared to the fourth quarter of 2024) well in excess of the Company’s anticipated horsepower growth of 18% as noted above. The Company expects 2025 maintenance capital expenditures of $10 – $13 million and its targeted return on invested capital of at least 20% remains unchanged.

    2024 Fourth Quarter Financial Results

    Revenue: Total revenue for the three months ended December 31, 2024 increased 12% to $40.7 million from $36.2 million for the three months ended December 31, 2023. This increase was due primarily to an increase in rental revenues. Rental revenue increased 21% to $38.2 million in the fourth quarter of 2024 from $31.6 million in the fourth quarter of 2024 due to the addition of higher horsepower packages and pricing improvements. As of December 31, 2024, we had 491,756 horsepower (1,208 rented units) compared to 420,432 horsepower (1,247 rented units) as of December 31, 2023, reflecting a 17% increase in total utilized horsepower. Sequentially, total revenue was essentially flat for the comparable periods, primarily related to lower sales revenue offset by an increase in rental revenue.

    Gross Margins: Total gross margins, including depreciation expense increased to $14.6 million for the three months ended December 31, 2024, compared to $13.3 million for the same period in 2023 and decreased from $14.9 million for the three months ended September 30, 2024. Total adjusted gross margin, exclusive of depreciation expense, for the three months ended December 31, 2024, increased to $23.0 million compared to $20.3 million for the three months ended December 31, 2023, and $22.9 million for the three months ended September 30, 2024.  For a reconciliation of Gross Margin, see Non-GAAP Financial Measures – Adjusted Gross Margin, below.

    Operating Income: Operating income for the three months ended December 31, 2024 was $6.0 million compared to operating income of $4.4 million for the three months ended December 31, 2023 and operating income of $9.5 million, during the third quarter of 2024.

    Net Income: Net income for the three months ended December 31, 2024, was $2.9 million, or $0.23 per diluted share compared to net income of $1.7 million or $0.14 per diluted share for the fourth quarter of 2023, and $5.0 million or $0.40 per diluted share for the third quarter of 2024. The increase in net income year-over-year was primarily related to higher rental revenue and rental gross margin, while the sequential decline was primarily related to the inventory allowance and decrease in sales gross profit related to the closure of our Midland fabrication operations, the intangible asset impairment, an increase in stock-based compensation, and an increase in depreciation.

    Cash Flows: At December 31, 2024, cash and cash equivalents were approximately $2.1 million, while working capital was $30.8 million. For the twelve months of 2024, cash flows provided by operating activities were $66.5 million, while cash flows used in investing activities was $71.4 million. This compares to cash flows provided by operating activities of $18.0 million and cash flows used in investing activities of $153.9 million for the comparable twelve-month period in 2023. Cash flow used in investing activities during 2024 included $71.9 million in capital expenditures.

    Adjusted EBITDA: Adjusted EBITDA increased 11% to $18.0 million for the three months ended December 31, 2024, from $16.3 million for the same period in 2023. This increase was primarily attributable to higher rental revenue and rental adjusted gross margin. Sequentially, adjusted EBITDA declined by 1% when compared to $18.2 million for the three months ended September 30, 2024.

    Debt: Outstanding debt on our revolving credit facility as of December 31, 2024 was $170 million. Our leverage ratio at December 31, 2024 was 2.36x and our fixed charge coverage ratio was 2.44x. The Company is in compliance with all terms, conditions and covenants of the credit agreement.

    Selected data: The tables below show revenue by product line, gross margin and adjusted gross margin for the trailing five quarters. Adjusted gross margin is the difference between revenue and cost of sales, exclusive of depreciation.

      Revenues
      Three months ended
      December 31,   March 31,   June 30,   September 30,   December 31,
      2023   2024   2024   2024   2024
      (in thousands)
    Rental $             31,626   $             33,734   $             34,926   $             37,350   $             38,226
    Sales                   2,921                     2,503                     2,270                     1,843                        997
    Aftermarket services                   1,674                        670                     1,295                     1,493                     1,435
    Total $             36,221   $             36,907   $             38,491   $             40,686   $             40,658
      Gross Margin
      Three months ended
      December 31,   March 31,   June 30,   September 30,   December 31,
      2023   2024   2024   2024   2024
      (in thousands)
    Rental $              12,366   $             13,761   $             13,211   $             15,043   $             14,865
    Sales                       553                        253                         (50)                      (258)                      (531)
    Aftermarket services                       421                        163                        269                        151                        296
    Total $              13,340   $             14,177   $             13,430   $             14,936   $             14,630

               

      Adjusted Gross Margin (1)
      Three months ended
      December 31,   March 31,   June 30,   September 30,   December 31,
      2023   2024   2024   2024   2024
      (in thousands)
    Rental $              19,199   $             20,620   $             20,698   $             22,908   $             23,107
    Sales                       620                        323                           21                      (185)                      (449)
    Aftermarket services                       440                        170                        283                        169                        321
    Total $              20,259   $             21,113   $             21,002   $             22,892   $             22,979
      Adjusted Gross Margin %
      Three months ended
      December 31,   March 31,   June 30,   September 30,   December 31,
      2023   2024   2024   2024   2024
    Rental 60.7 %   61.1 %   59.3 %   61.3 %   60.4 %
    Sales 21.2 %   12.9 %   0.9 %   (10.0) %   (45.0) %
    Aftermarket services 26.3 %   25.4 %   21.9 %   11.3  %   22.4 %
    Total 55.9 %   57.2 %   54.6 %   56.3 %   56.5 %
      Compression Units (at end of period)
      Three months ended
      December 31,   March 31,   June 30,   September 30,   December 31,
      2023   2024   2024   2024   2024
    Rented horsepower            420,432                444,220                454,568                475,534                491,756   
    Fleet horsepower available            520,365                542,256                552,599                579,699                598,840   
    Horsepower utilization 80.8 %   81.9 %   82.3 %   82.0 %   82.1 %
                       
    Units utilized                1,247                     1,245                     1,242                     1,229                     1,208    
    Fleet units                1,876                     1,894                     1,899                     1,909                     1,912    
    Unit utilization 66.5 %   65.7 %   65.4 %   64.4 %   63.2 %

    (1) For a reconciliation of adjusted gross margin to its most directly comparable financial measure calculated and presented in accordance GAAP, please read “Non-GAAP Financial Measures – Adjusted Gross Margin” below.

    Non-GAAP Financial Measure – Adjusted Gross Margin: “Adjusted Gross Margin” is defined as total revenue less costs of revenues (excluding depreciation and amortization expense). Adjusted gross margin is included as a supplemental disclosure because it is a primary measure used by our management as it represents the results of revenue and costs (excluding depreciation and amortization expense), which are key components of our operations. Adjusted gross margin differs from gross margin, in that gross margin includes depreciation and amortization expense. We believe Adjusted gross margin is important because it focuses on the current operating performance of our operations and excludes the impact of the prior historical costs of the assets acquired or constructed that are utilized in those operations. Depreciation and amortization expense does not accurately reflect the costs required to maintain and replenish the operational usage of our assets and therefore may not portray the costs from current operating activity. Rather, depreciation and amortization expense reflect the systematic allocation of historical property and equipment costs over their estimated useful lives.

    Adjusted gross margin has certain material limitations associated with its use as compared to gross margin. These limitations are primarily due to the exclusion of depreciation and amortization expense, which is material to our results of operations. Because we use capital assets, depreciation and amortization expense is a necessary element of our costs and our ability to generate revenue. In order to compensate for these limitations, management uses this non-GAAP measure as a supplemental measure to other GAAP results to provide a more complete understanding of our performance. As an indicator of our operating performance, Adjusted gross margin should not be considered an alternative to, or more meaningful than, gross margin as determined in accordance with GAAP. Our Adjusted gross margin may not be comparable to a similarly titled measure of another company because other entities may not calculate Adjusted gross margin in the same manner.

    The following table calculates our gross margin, the most directly comparable GAAP financial measure, and reconciles it to Adjusted gross margin for the periods presented:

      Adjusted Gross Margin
      Three months ended
      December 31,   March 31,   June 30,   September 30,   December 31,
      2023   2024   2024   2024   2024
      (in thousands)
    Total revenue $              36,221   $             36,907   $             38,491   $             40,686   $             40,658
    Cost of revenue, exclusive of depreciation                (15,962)                 (15,794)                 (17,489)                 (17,794)                 (17,679)
    Depreciation allocable to costs of revenue                  (6,919)                   (6,936)                   (7,572)                   (7,956)                   (8,349)
    Gross margin                 13,340                   14,177                   13,430                   14,936                   14,630
    Depreciation allocable to costs of revenue                    6,919                     6,936                     7,572                     7,956                     8,349
    Adjusted gross margin $              20,259   $             21,113   $             21,002   $             22,892   $             22,979

    Non-GAAP Financial Measures – Adjusted EBITDA: “Adjusted EBITDA” reflects net income or loss before interest, taxes, depreciation and amortization, non-cash equity-classified stock-based compensation expense, non-recurring restructuring charges including severance expenses, impairments, increases in inventory allowance and retirement of rental equipment. Adjusted EBITDA is a measure used by management, analysts and investors as an indicator of operating cash flow since it excludes the impact of movements in working capital items, non-cash charges and financing costs. Therefore, Adjusted EBITDA gives the investor information as to the cash generated from the operations of a business. However, Adjusted EBITDA is not a measure of financial performance under accounting principles GAAP, and should not be considered a substitute for other financial measures of performance. Adjusted EBITDA as calculated by NGS may not be comparable to Adjusted EBITDA as calculated and reported by other companies. The most comparable GAAP measure to Adjusted EBITDA is net income (loss).

    The following tables reconciles our net income, the most directly comparable GAAP financial measure, to Adjusted EBITDA for the periods presented:

      Three months ended
      December 31,   March 31,   June 30,   September 30,   December 31,
      2023   2024   2024   2024   2024
      (in thousands)
    Net income $                1,702   $                5,098   $                4,250   $                5,014   $                2,865
    Interest expense                    2,297                     2,935                     2,932                     3,045                     3,015
    Income tax expense                       431                     1,479                     1,294                     1,383                        283
    Depreciation and amortization                    7,160                     7,087                     7,705                     8,086                     8,469
    Stock-based compensation expense                       228                        274                        242                        522                        783
    Severance and restructuring charges                         —                           —                           33                           —                           —
    Impairments                         —                           —                           —                        136                        705
    Inventory allowance                    3,965                           —                           —                           —                     1,863
    Retirement of rental equipment                       505                             5                           —                           —                           23
    Adjusted EBITDA $              16,288   $             16,878   $             16,456   $             18,186   $             18,006
      Year ended December 31,
      2023   2024  
      (in thousands)
    Net income $                4,747   $             17,227  
    Interest expense                    4,082                   11,927  
    Income tax expense                    1,873                     4,439  
    Depreciation and amortization                 26,550                   31,347  
    Stock-based compensation expense                    2,054                     1,821  
    Severance and restructuring charges                    1,224                           33  
    Impairments                       779                        841  
    Inventory allowance                    3,965                     1,863  
    Retirement of rental equipment                       505                           28  
    Adjusted EBITDA $              45,779   $             69,526  

    Conference Call Details: The Company will host a conference call to review its fourth-quarter and year-end financial results on Tuesday, March 18 at 8:30 a.m. (EST), 7:30 a.m. (CST). To join the conference call, kindly access the Investor Relations section of our website at www.ngsgi.com or dial in at (800) 550-9745 and enter conference ID 167298 at least five minutes prior to the scheduled start time. Please note that using the provided dial-in number is necessary for participation in the Q&A section of the call. A recording of the conference will be made available on our Company’s website following its conclusion. Thank you for your interest in our Company’s updates.

    About Natural Gas Services Group, Inc.
    Natural Gas Services Group is a leading provider of natural gas compression equipment, technology and services to the energy industry. The Company designs, rents, sells and maintains natural gas compressors for oil and natural gas production and plant facilities, primarily using equipment from third-party fabricators and OEM suppliers along with limited in-house assembly. The Company is headquartered in Midland, Texas, with a fabrication facility located in Tulsa, Oklahoma, and service facilities located in major oil and natural gas producing basins in the U.S. Additional information can be found at www.ngsgi.com.

    Forward-Looking Statements

    Certain statements herein (and oral statements made regarding the subjects of this release) constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions.

    These forward–looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of the Company. Forward–looking information includes, but is not limited to statements regarding: guidance or estimates related to EBITDA growth, projected capital expenditures; returns on invested capital, fundamentals of the compression industry and related oil and gas industry, valuations, compressor demand assumptions and overall industry outlook, and the ability of the Company to capitalize on any potential opportunities.

    While the Company believes that the assumptions concerning future events are reasonable, investors are cautioned that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. Some of these factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to:

    • conditions in the oil and gas industry, including the supply and demand for oil and gas and volatility in the prices of oil and gas;
    • our reliance on major customers;
    • failure of projected organic growth due to adverse changes in the oil and gas industry, including depressed oil and gas prices, oppressive environmental regulations and competition;
    • our inability to achieve increased utilization of assets, including rental fleet utilization and monetizing other non-cash balance sheet assets;
    • failure of our customers to continue to rent equipment after expiration of the primary rental term;
    • our ability to economically develop and deploy new technologies and services, including technology to comply with health and environmental laws and regulations;
    • failure to achieve accretive financial results in connection with any acquisitions we may make;
    • fluctuations in interest rates;
    • regulation or prohibition of new well completion techniques;
    • competition among the various providers of compression services and products;
    • changes in safety, health and environmental regulations;
    • changes in economic or political conditions in the markets in which we operate;
    • the inherent risks associated with our operations, such as equipment defects, malfunctions, natural disasters and adverse changes in customer, employee and supplier relationships;
    • our inability to comply with covenants in our debt agreements and the decreased financial flexibility associated with our debt;
    • inability to finance our future capital requirements and availability of financing;
    • capacity availability, costs and performance of our outsourced compressor fabrication providers and overall inflationary pressures;
    • impacts of world events, such as acts of terrorism and significant economic disruptions and adverse consequences resulting from possible long-term effects of potential pandemics and other public health crises; and
    • general economic conditions.

    In addition, these forward-looking statements are subject to other various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

    For More Information, Contact:
    Anna Delgado, Investor Relations
    (432) 262-2700
    IR@ngsgi.com
    www.ngsgi.com

     NATURAL GAS SERVICES GROUP, INC.
    CONSOLIDATED BALANCE SHEETS
    (in thousands)
    (unaudited)
      December 31,
      2024   2023
    ASSETS      
    Current Assets:      
    Cash and cash equivalents $                2,142   $                2,746
    Trade accounts receivable, net of provision for credit losses                 15,626                   39,186
    Inventory, net of allowance for obsolescence                 18,051                   21,639
    Federal income tax receivable                 11,282                   11,538
    Prepaid expenses and other                   1,075                     1,162
    Total current assets                 48,176                   76,271
    Long-term inventory, net of allowance for obsolescence                         —                        701
    Rental equipment, net of accumulated depreciation               415,021                 373,649
    Property and equipment, net of accumulated depreciation                 22,989                   20,550
    Intangible assets, net of accumulated amortization                         —                        775
    Other assets                   6,342                     6,783
    Total assets $           492,528   $           478,729
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Current Liabilities:      
    Accounts payable $                9,670   $             17,628
    Accrued liabilities                   7,688                   15,085
    Total current liabilities                 17,358                   32,713
    Credit facility               170,000                 164,000
    Deferred income taxes                 45,873                   41,636
    Other long-term liabilities                   4,240                     4,486
    Total liabilities               237,471                 242,835
    Commitments and contingencies      
    Stockholders’ Equity:      
    Preferred stock, 5,000 shares authorized, no shares issued or outstanding                         —                           —
    Common stock, 30,000 shares authorized, par value $0.01; 13,762 and 13,688 shares issued as of December 31, 2024 and 2023, respectively                      138                        137
    Additional paid-in capital               118,415                 116,480
    Retained earnings               151,508                 134,281
    Treasury shares, at cost, 1,310 shares for each of December 31, 2024 and 2023, respectively               (15,004)                 (15,004)
    Total stockholders’ equity               255,057                 235,894
    Total liabilities and stockholders’ equity $           492,528   $           478,729
     NATURAL GAS SERVICES GROUP, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except per share amounts)
    (unaudited)
      Three months ended   Year ended
      December 31,   December 31,
      2024   2023   2024   2023
    Revenue:              
    Rental $         38,226   $         31,626   $       144,236   $       106,159
    Sales                  997                 2,921                 7,613                 8,921
    Aftermarket services               1,435                 1,674                 4,893                 6,087
    Total revenue            40,658              36,221            156,742            121,167
    Cost of revenues (excluding depreciation and amortization)              
    Rental            15,119              12,427                 7,903                 8,919
    Sales               1,446                 2,301              56,903              48,877
    Aftermarket services               1,114                 1,234                 3,950                 4,658
    Total cost of revenues (excluding depreciation and amortization)            17,679              15,962              68,756              62,454
    Selling, general and administrative expenses               5,831                 4,390              21,012              16,938
    Depreciation and amortization               8,469                 7,160              31,347              26,550
    Impairments                  705                      —                    841                    779
    Inventory allowance               1,863                 3,965                 1,863                 3,965
    Retirement of rental equipment                    23                    505                      28                    505
    Loss (gain) on sale of property and equipment, net                    45                  (200)                  (430)                  (481)
    Total operating costs and expenses            34,615              31,782            123,417            110,710
    Operating income               6,043                 4,439              33,325              10,457
    Other income (expense):              
    Interest expense             (3,015)               (2,297)             (11,927)               (4,082)
    Other income (expense)                  120                       (9)                    268                    245
    Total other expense, net             (2,895)               (2,306)             (11,659)               (3,837)
    Income before income taxes               3,148                 2,133              21,666                 6,620
    Provision for income taxes                (283)                  (431)               (4,439)               (1,873)
    Net income $           2,865   $           1,702   $         17,227   $           4,747
    Earnings per share:              
    Basic $              0.23   $              0.14   $              1.39   $              0.39
    Diluted $              0.23   $              0.14   $              1.37   $              0.38
    Weighted average shares outstanding:              
    Basic            12,438              12,378              12,412              12,316
    Diluted            12,586              12,435              12,543              12,383
     NATURAL GAS SERVICES GROUP, INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in thousands, except per share amounts)
    (unaudited)
      Three months ended   Year ended
      December 31,   December 31,
      2024   2023   2024   2023
    CASH FLOWS FROM OPERATING ACTIVITIES:              
    Net income $           2,865   $           1,702   $         17,227   $           4,747
    Adjustments to reconcile net income to net cash provided by operating activities:              
    Depreciation and amortization               8,469                 7,160              31,347              26,550
    Impairments                  705                      —                    841                    779
    Inventory allowance               1,863                 3,965                 1,863                 3,965
    Retirement of rental equipment                    23                    505                      28                    505
    (Gain) loss on sale of property and equipment                    45                  (200)                  (430)                  (481)
    Amortization of debt issuance costs                  216                    138                    746                    425
    Deferred income taxes                  182                    430                 4,237                 1,838
    Stock-based compensation                  783                    228                 1,821                 2,054
    Provision for credit losses                    —                    293                    433                    492
    (Gain) loss on company owned life insurance                     (4)                    186                  (156)                    235
    Changes in operating assets and liabilities:              
    Trade accounts receivables               9,183             (11,438)              23,127             (25,010)
    Inventory               1,355                 1,939                 2,477                  (669)
    Prepaid expenses and prepaid income taxes               1,177                    274                    152                       (7)
    Accounts payable and accrued liabilities           (18,580)             (12,478)             (17,727)                 2,436
    Other               1,144                  (369)                    477                    174
    NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES               9,426               (7,665)              66,463              18,033
    CASH FLOWS FROM INVESTING ACTIVITIES:              
    Purchase of rental equipment,  property and other equipment           (14,544)             (25,380)             (71,894)          (153,943)
    Purchase of company owned life insurance                (187)                    (44)                    (22)                  (422)
    Proceeds from sale of property and equipment                  (28)                    246                    476                    477
    NET CASH USED IN INVESTING ACTIVITIES           (14,759)             (25,178)             (71,440)          (153,888)
    CASH FLOWS FROM FINANCING ACTIVITIES:              
    Proceeds from credit facility borrowings            20,000              36,000              28,000            139,000
    Repayments of credit facility borrowings           (13,000)                      —             (22,000)                      —
    Payments of other long term liabilities                (158)                    (45)                  (780)                    (95)
    Payments of debt issuance costs                    —                  (562)                  (962)               (2,693)
    Proceeds from exercise of stock options                  223                      —                    293                      —
    Taxes paid related to net share settlement of equity awards                    —                       (1)                  (178)                  (983)
    NET CASH PROVIDED BY FINANCING ACTIVITIES               7,065              35,392                 4,373            135,229
    NET CHANGE IN CASH AND CASH EQUIVALENTS               1,732                 2,549                  (604)                  (626)
    CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                  410                    197                 2,746                 3,372
    CASH AND CASH EQUIVALENTS AT END OF PERIOD $           2,142   $           2,746   $           2,142   $           2,746

    The MIL Network –

    March 18, 2025
  • MIL-OSI Economics: African Development Bank, African Water Facility, Association of European Development Finance Institutions to hold Investment Event for Water and…

    Source: African Development Bank Group

    The African Development Bank Group, African Water Facility, and the Association of European Development Finance Institutions will host a high-level event to generate investment for water and sanitation services in Africa. Taking place on 18 March 2025 in Brussels, the event will bring together development finance institutions, private sector investors, and philanthropic organizations.

    During the event, the African Development Bank and African Water Facility will showcase investment-ready projects and those in their pipeline, offering opportunities for investors and development financiers to support high-impact water and sanitation projects, including homegrown solutions that will drive economic growth, social stability, and public health improvements across Africa.

    Why This Matters

    Africa faces significant water and sanitation challenges, amplified by increasing pressure on strained water resources by the continent’s growing population, which is expected to double by 2050. Currently, 411 million people lack access to safe drinking water, 779 million are without essential sanitation services, and 839 million do not have access to basic hygiene services, according to a 2020 report by UNICEF and the World Health Organization (WHO).

    This lack of access contributes to severe public health challenges, including the spread of waterborne diseases such as cholera and diarrhea, which have caused over 400,000 deaths annually on the continent, according to the WHO.

    The economic cost of inadequate access to water and sanitation is also high. Inadequate sanitation alone results in losses of up to $5.5 billion per year in sub-Saharan Africa due to healthcare costs and lost productivity. However, investing in climate-resilient water and sanitation services could yield at least $7 in economic returns for every $1 spent.

    “Water and sanitation infrastructure is fundamental to economic growth. Investing in it is not only a necessity, but good business sense. By securing funding for high-impact projects, we can create jobs, improve public health, and grow local economies,” said Mtchera Chirwa, Director for Water Development and Sanitation at the African Development Bank and Coordinator of African Water Facility.

    Beyond funding, the event will facilitate discussions on public-private partnerships, blended finance models, and innovative financing mechanisms to accelerate progress in achieving United Nations Sustainable Development Goal 6 – universal access to clean water and sanitation by 2030.

    Association of European Development Finance Institutions CEO David Kuijper said. “As stakeholders in development, together, we have the resources to make transformative change happen. The Association of European Development Finance Institutions values the partnership with the African Development Bank and African Water Facility to convene this event to find financial and technical resources for solutions through projects already on the market in Africa.”

    MIL OSI Economics –

    March 18, 2025
  • MIL-OSI: Abaxx Announces C$20,000,000 Convertible Debenture Offering

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

    TORONTO, March 17, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announces it proposes to raise on a non-brokered private placement basis an aggregate principal amount of up to C$20,000,000 (the “Offering”) pursuant to the issuance of secured convertible debentures (the “Debentures”) due 36 months following the date of issuance (the “Maturity Date”).

    Each Debenture will consist of C$1,000 principal amount of secured convertible debentures of the Company and will be convertible into common shares of the Company (each, a “Debenture Share) at the option of the holder thereof at any time prior to the Maturity Date at a conversion price equal to C$13 per Debenture Share. The outstanding principal amount of the Debentures, together with any accrued and unpaid interest, will become due and payable in full on the Maturity Date and will be payable in cash.

    The Debentures will be issued at an original issue discount equal to 2.5% of the aggregate principal amount of the Debentures and shall bear interest at a rate of 7.0% per annum from the date of issue, payable semi-annually in arrears in cash. The Debentures will be secured against certain publicly-traded securities owned by the Company.

    The Offering is expected to close on or around March 25, 2025, and is subject to completion of final transaction documentation and all regulatory approvals, including the approval of Cboe Canada. The net proceeds of the Offering are expected to be used for general corporate and working capital purposes. The Debentures and Debenture Shares issuable pursuant to the Offering will be subject to statutory hold periods of four months and one day from the date of issuance thereof.

    The Company may pay a commission or finder’s fee to eligible parties in connection with the Offering, subject to the approval of Cboe Canada and compliance with applicable securities laws.

    The securities offered in the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

    About Abaxx Technologies
    Abaxx is building Smarter Markets — markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is an indirect majority-owner of subsidiaries Abaxx Exchange and Abaxx Clearing, recognized by MAS as a “recognised market operator” (RMO) and “approved clearing house” (ACH), respectively.

    Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse, introducing centrally cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to our transition to a lower-carbon economy.

    For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.

    For more information about this press release, please contact:

    Steve Fray, CFO
    Tel: +1 647-490-1590

    Media and investor inquiries:

    Abaxx Technologies Inc.
    Investor Relations Team
    Tel: +1 246 271 0082
    E-mail: ir@abaxx.tech

    Cautionary Statement Regarding Forward-Looking Information

    This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward- looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.

    Forward-looking information related to Abaxx in this press release includes, but is not limited to: the proposed terms of the Debentures, the closing and timing of closing of the Offering, regulatory approvals and the proposed use of proceeds from the Offering. Such factors impacting forward-looking information include, among others: the inability to receive regulatory approvals in connection with the Offering or inability to finalize transaction documentation; risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions, protection of intellectual property rights, contractual risk, third-party risk; clearinghouse risk, malicious actor risks, third-party software license risk, system failure risk, risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management discussion & analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

    Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.

    The MIL Network –

    March 18, 2025
  • MIL-OSI NGOs: Campaign exposes “Dirty Dems” who betray the people for corporate donors

    Source: Greenpeace Statement –

    SACRAMENTO, CA — (March 17, 2025) Greenpeace USA, in collaboration with the California Working Families Party and Courage California, is launching a new campaign to hold legislators accountable for their campaign donations and voting records. The campaign, titled “Dirty Dems,” will shine a spotlight on Democratic lawmakers who have taken the most money from the oil and gas industry and voted against critical climate, economic justice and other progressive priority legislation. 

    Amy Moas, Ph.D., Greenpeace USA Senior Climate Campaigner said: “The Dirty Dems are selling out our future. This campaign will expose the politicians who deserved to be called out – the Democratic lawmakers who have chosen corporate money over the health and safety of their communities. We will no longer stand by while these legislators block vital progress that our families and communities demand.”

    Jane Kim, State Director of the California Working Families Party, said: “The Working Families Party is shining a light on elected officials who put billionaire polluter profits ahead of the health and safety of California’s working families. Despite being a super blue state, it is alarming that the majority of our state legislature is supported by Bil Oil. Having a D next to your name isn’t enough- we need champions who will fight for our future.”

    Starting this week, “Dirty Dems” will reveal at least one legislator each week, detailing their harmful votes, connections to the fossil fuel industry, and the damage they have caused to local communities. The first “Dirty Dem” to be exposed today is Assembly Member Stephanie Nguyen, who represents South Sacramento’s Elk Grove area. Since entering the legislature in 2022, Nguyen has already taken over $31,000 in donations from Big Oil, including $20,000 during the last legislative session alone. She has also accepted gifts from the Western States Petroleum Association, the largest trade association representing oil and gas in California.

    Nguyen’s voting record paints a troubling picture. She has abstained from voting on a shocking number of critical climate and environmental protection bills, including those aimed at reducing toxic pollutants (AB 674), cleaning up idle oil wells (AB 1167 and AB 1866), and improving climate financial disclosure (SB 253 and SB 261). Nguyen also voted against protections for grocery workers (SB 725), against increasing the number of paid sick days (SB 616) and against strengthening labor law enforcement (AB594). These actions, or lack thereof, have directly harmed the very communities she was elected to serve.

    Moas Said: “Real leadership means answering to the people, not to corporate donors, Assemblymember Nguyen and others like her are on the wrong side of justice. Their actions are allowing the climate crisis’ devastating effects to run rampant, delaying protections essential workers desperately need, and exacerbating the economic inequality our families face. The time to act is now, and we won’t stop until we’ve held every one of these Dirty Dems accountable.”

    Contact: Gigi Singh, Communications Manager at Greenpeace USA
    (+1)  631-404-9977, [email protected]  Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

    MIL OSI NGO –

    March 18, 2025
  • MIL-OSI USA: Economic Forecast Shows Trump’s Tariffs Are Creating Uncertainty and Hurting Economy

    Source: US State of Colorado

    State forecast shows revenue still outpacing TABOR cap

    DENVER – Today, the Governor’s Office of State Planning and Budget released its March 2025 Economic Forecast.

    “Today’s forecast confirms what Coloradans are already experiencing. The President’s devastating tariffs are creating market chaos, hurting business investment, and damaging our economy, all while increasing fear over rising inflation and an economic recession. This economic forecast shows that Trump’s tariff tax is bad for Coloradans and businesses. Despite the expectation of a weaker economy due to tariffs, the projected General Fund balance is still good news in a difficult budget year,” said Governor Polis.

    Revenue subject to TABOR is expected to remain above the cap by $301.5 million in FY 2024-25, $642.7 million in FY 2025-26, and $775.8 million in FY 2026-27. Under this forecast, the General Fund balance is projected to be $1,122 million above the statutory reserve in FY 2023-24.

    View the forecast, slides, and supplemental materials.

    ###

     

    MIL OSI USA News –

    March 18, 2025
  • MIL-OSI: APA Corporation and Partners Lagniappe Alaska and Oil Search Announce Significant Oil Discovery in Alaska’s North Slope at Sockeye-2 Exploration Well; Partners Proceeding with Further Evaluation and Testing

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 17, 2025 (GLOBE NEWSWIRE) — APA Corporation (NYSE, Nasdaq: APA) and its partners Lagniappe Alaska, LLC, an Armstong company, and Oil Search (Alaska), LLC, a subsidiary of Santos Limited, today announced preliminary results of the Sockeye-2 exploratory well. Apache holds a 50% working interest, operator Lagniappe and partner Santos each hold 25%.

    The Sockeye-2 well was drilled to a depth of approximately 10,500 feet and successfully encountered a high-quality reservoir with approximately 25 feet of net oil pay in one blocky, Paleocene-aged sand with an average porosity of 20%. As compared to recent regional field analogues in the Brookian play, the porosity and permeability are both better than expected, with the permeability to be confirmed through a planned flow test. Additional zones of potential pay were also encountered in the shallower Staines Tongue formation.

    The Sockeye prospect is amplitude supported across 25,000 to 30,000 acres, and confirms the partners’ geologic and geophysical models, derisking numerous additional prospects in the area. Wireline logging is complete and additional data collection is underway, including acquiring core and flow testing the well. The partners will provide further updates following the flow test results.

    “The Sockeye-2 test is the second successful exploratory well drilled by the partnership on a 325,411-acre position on state lands. The first well, King Street-1, was a new field discovery with oil in two separate Brookian Zones. The Sockeye-2 well further demonstrates the potential of the play, presenting an exciting opportunity in an active area of the North Slope with significant existing infrastructure,” said Bill Armstrong, CEO of Armstrong Oil & Gas.

    “We are very encouraged by the results at the Sockeye-2 well, which further proves our geologic and geophysical models and confirms a working hydrocarbon system. We look forward to the results of the flow test and sharing more information about the broader opportunity in Alaska,” added John J. Christmann, APA Corporation CEO.

    About APA

    APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com.

    Forward-Looking Statements

    This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “goals,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in APA’s Form 10-K for the year ended December 31, 2024, and in our quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission for a discussion of risk factors that affect our business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.

    Contacts

    Investor: (281) 302-2286
    Media: (713) 296-7276        
    Website: www.apacorp.com

    APA-G

    The MIL Network –

    March 18, 2025
  • MIL-OSI: Netcapital Announces Third Quarter Fiscal 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • Management to Host Earnings Call on March 19, 2025 at 10:00 a.m. ET

    BOSTON, MA, March 17, 2025 (GLOBE NEWSWIRE) — Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced financial results for the third quarter of fiscal year 2025 ended January 31, 2025.

    “During the fiscal year, management shifted its focus to establishing the company’s wholly-owned broker-dealer subsidiary, Netcapital Securities Inc., which was approved by FINRA in November. We believe this major milestone will provide additional sources of revenue going forward,” said Martin Kay, CEO of Netcapital Inc. “We did face a tough quarter during an uncertain market environment. Looking forward, however, we are pleased that Algernon NeuroScience Inc. recently engaged Netcapital Securities for a planned Regulation A (Reg A) offering and to provide broker-dealer and administrative services.”

    Third Quarter Fiscal 2025 Financial Results

    • Revenue decreased approximately 85% year-over-year to $152,682, compared to revenue of $1,042,793 million in the third quarter of fiscal year 2024
    • Operating loss was ($1,687,692) in the third quarter fiscal 2025, compared to ($1,205,157) for the third quarter fiscal 2024
    • Net loss was ($3,006,537) in the third quarter fiscal 2025, compared to net loss of ($2,227,542) for the same period in the prior year
    • Loss per share was ($1.57) in the third quarter fiscal 2025, compared to loss per share of ($13.60) for the same period in the prior year
    • As of January 31, 2025, the Company had cash and cash equivalents of $614,304

    Conference Call Information

    The Company will host an investor conference call on Wednesday, March 19, 2025, at 10 a.m. ET.

    Participant access: 844-985-2012 or 973-528-0138
    Conference entry code: 165756

    For additional disclosure regarding Netcapital’s operating results, please refer to the Quarterly Report on Form 10-Q for the three-month period ended January 31, 2025, which has been filed with the Securities and Exchange Commission.

    About Netcapital Inc.

    Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company’s consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company’s funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association. The Company’s broker-dealer, Netcapital Securities Inc., is also registered with the SEC and is a member of FINRA.

    Forward Looking Statements

    The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

    Investor Contact

    800-460-0815 
    ir@netcapital.com

    NETCAPITAL INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS

        January 31, 2025
    (Unaudited)
        April 30, 2024
    (Audited)
     
    Assets:                
    Cash and cash equivalents   $ 614,304     $ 863,182  
    Accounts receivable net     –       134,849  
    Other receivables     2,400       1,200  
    Note receivable     20,000       20,000  
    Prepaid expenses     36,115       23,304  
    Total current assets     672,819       1,042,535  
                     
    Deposits     6,300       6,300  
    Notes receivable – related parties     202,000       202,000  
    Purchased technology, net     14,706,398       14,733,005  
    Investment in affiliate     240,080       240,080  
    Equity securities     24,073,080       25,333,386  
    Total assets   $ 39,900,677     $ 41,557,306  
                     
    Liabilities and Stockholders’ Equity                
    Current liabilities:                
    Accounts payable   $ 2,160,727     $ 793,325  
    Accrued expenses     250,983       310,300  
    Deferred revenue     360       466  
    Interest payable     98,218       92,483  
    Current portion of SBA loans     1,885,800       1,885,800  
    Loan payable – bank     34,324       34,324  
    Total current liabilities     4,430,412       3,116,698  
                     
    Long-term liabilities:                
    Long-term SBA loans, less current portion     500,000       500,000  
    Total liabilities     4,930,412       3,616,698  
                     
    Commitments and contingencies     –       –  
                     
    Stockholders’ equity:                
    Common stock, $.001 par value; 900,000,000 shares authorized, 2,112,488 and 326,867 shares issued and outstanding     2,113       327  
    Shares to be issued     122,124       122,124  
    Capital in excess of par value     42,120,673       37,338,594  
    Retained earnings (deficit)     (7,274,645 )     479,563  
    Total stockholders’ equity     34,970,265       37,940,608  
    Total liabilities and stockholders’ equity   $ 39,900,677     $ 41,557,306  

    NETCAPITAL INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (UNAUDITED)
       

        Three Months Ended     Three Months Ended     Nine Months Ended     Nine Months Ended  
        January 31, 2025     January 31, 2024     January 31, 2025     January 31, 2024  
                             
    Revenues   $ 152,682     $ 1,042,793     $ 465,437     $ 4,604,260  
    Costs of services     7,155       58,875       37,156       97,062  
    Gross profit     145,527       983,918       428,281       4,507,198  
                                     
    Costs and expenses:                                
    Consulting expense     63,555       175,357       240,581       544,033  
    Marketing     12,887       32,198       31,993       320,817  
    Rent     20,178       19,544       58,736       57,533  
    Payroll and payroll related expenses     815,024       869,517       2,701,318       2,957,394  
    General and administrative costs     921,575       1,092,459       3,794,013       2,529,378  
    Total costs and expenses     1,833,219       2,189,075       6,826,641       6,409,155  
    Operating income (loss)     (1,687,692 )     (1,205,157 )     (6,398,360 )     (1,901,957 )
                                     
    Other income (expense):                                
    Interest expense     (10,376 )     (11,918 )     (30,441 )     (35,784 )
    Interest income     400       –       1,200       –  
    Impairment expense     (1,300,000 )     –       (1,300,000 )     –  
    Amortization of intangible assets     (8,869 )     (28,331 )     (26,607 )     (84,993 )
    Unrealized loss on equity securities     –       (2,696,135 )     –       (2,696,135 )
    Total other income (expense)     (1,318,845 )     (2,736,384 )     (1,355,848 )     (2,816,912 )
    Net income (loss) before taxes     (3,006,537 )     (3,941,541 )     (7,754,208 )     (4,718,869 )
    Income tax expense (benefit)     –       (1,713,999 )     –       (2,339,288 )
    Net income (loss)   $ (3,006,537 )   $ (2,227,542 )   $ (7,754,208 )   $ (2,379,581 )
                                     
    Basic earnings (loss) per share   $ (1.57 )   $ (13.60 )   $ (6.93 )   $ (17.61 )
    Diluted earnings (loss) per share   $ (1.57 )   $ (13.60 )   $ (6.93 )   $ (17.61 )
                                     
    Weighted average number of common shares outstanding:                                
    Basic     1,915,367       163,807       1,119,479       135,111  
    Diluted     1,915,367       163,807       1,119,479       135,111  

    The MIL Network –

    March 18, 2025
  • MIL-OSI: Greystone Housing Impact Investors LP Announces Regular Quarterly Cash Distribution

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., March 17, 2025 (GLOBE NEWSWIRE) — On March 17, 2025, Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced that the Board of Managers of Greystone AF Manager LLC (“Greystone Manager”) declared a cash distribution to the Partnership’s Beneficial Unit Certificate (“BUC”) holders of $0.37 per BUC.

    The cash distribution will be paid on April 30, 2025 to all BUC holders of record as of the close of trading on March 31, 2025. The BUCs will trade ex-distribution as of March 31, 2025.

    Greystone Manager is the general partner of America First Capital Associates Limited Partnership Two, the Partnership’s general partner. Distributions to the Partnership’s BUC holders, including regular and any supplemental distributions, are determined by Greystone Manager based on a disciplined evaluation of the Partnership’s current and anticipated operating results, financial condition and other factors it deems relevant. Greystone Manager continually evaluates the factors that go into BUC holder distribution decisions, consistent with the long-term best interests of the BUC holders and the Partnership.

    About Greystone Housing Impact Investors LP

    Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, (the “Partnership Agreement”), taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.

    Safe Harbor Statement

    Certain statements in this press release are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of statements that include, but are not limited to, phrases such as “believe,” “expect,” “future,” “anticipate,” “intend,” “plan,” “foresee,” “may,” “should,” “will,” “estimates,” “potential,” “continue,” or other similar words or phrases. Similarly, statements that describe objectives, plans, or goals also are forward-looking statements. Such forward-looking statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Partnership. The Partnership cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, implied, or projected by such forward-looking statements. Risks and uncertainties include, but are not limited to: defaults on the mortgage loans securing our mortgage revenue bonds and governmental issuer loans; the competitive environment in which the Partnership operates; risks associated with investing in multifamily, student, senior citizen residential properties and commercial properties; general economic, geopolitical, and financial conditions, including the current and future impact of changing interest rates, inflation, and international conflicts (including the Russia-Ukraine war and the Israel-Hamas war) on business operations, employment, and financial conditions; uncertain conditions within the domestic and international macroeconomic environment, including monetary and fiscal policy and conditions in the investment, credit, interest rate, and derivatives markets; adverse reactions in U.S. financial markets related to actions of foreign central banks or the economic performance of foreign economies, including in particular China, Japan, the European Union, and the United Kingdom; the general condition of the real estate markets in the regions in which the Partnership operates, which may be unfavorably impacted by pressures in the commercial real estate sector, incrementally higher unemployment rates, persistent elevated inflation levels, and other factors; changes in interest rates and credit spreads, as well as the success of any hedging strategies the Partnership may undertake in relation to such changes, and the effect such changes may have on the relative spreads between the yield on investments and cost of financing; the aggregate effect of elevated inflation levels over the past several years, spurred by multiple factors including expansionary monetary and fiscal policy, higher commodity prices, a tight labor market, and low residential vacancy rates, which may result in continued elevated interest rate levels and increased market volatility; the Partnership’s ability to access debt and equity capital to finance its assets; current maturities of the Partnership’s financing arrangements and the Partnership’s ability to renew or refinance such financing arrangements; local, regional, national and international economic and credit market conditions; recapture of previously issued Low Income Housing Tax Credits in accordance with Section 42 of the Internal Revenue Code; geographic concentration of properties related to investments held by the Partnership; changes in the U.S. corporate tax code and other government regulations affecting the Partnership’s business; and the other risks detailed in the Partnership’s SEC filings (including but not limited to, the Partnership’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K). Readers are urged to consider these factors carefully in evaluating the forward-looking statements.

    If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, the developments and future events concerning the Partnership set forth in this press release may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this document. We anticipate that subsequent events and developments will cause our expectations and beliefs to change. The Partnership assumes no obligation to update such forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, unless obligated to do so under the federal securities laws.

    MEDIA CONTACT:
    Karen Marotta
    Greystone
    212-896-9149
    Karen.Marotta@greyco.com
     
    INVESTOR CONTACT:
    Andy Grier
    Senior Vice President
    402-952-1235

    The MIL Network –

    March 18, 2025
  • MIL-OSI Asia-Pac: National Quantum Mission: India’s Quantum Leap

    Source: Government of India

    National Quantum Mission: India’s Quantum Leap

    Unleashing the power of quantum technology and creating jobs of tomorrow

    Posted On: 17 MAR 2025 6:42PM by PIB Delhi

    Introduction

    With technology taking over the world, India is stepping into the future with the National Quantum Mission (NQM), a major initiative by the Government of India to propel the nation to the forefront of quantum technology research and development. Approved on 19th April 2023 by the Union Cabinet, the mission the mission is set to span from 2023–24 to 2030–31, with a budget allocation of ₹6,003.65 crore.

    National Quantum mission, is not just a mission, but it is a bold step through which India aims to harness the power of quantum technology to drive innovation, strengthen security, and boost various industries, positioning itself as a global leader in this cutting-edge field.

    What is Quantum Computing

    Quantum computers use special units called qubits to store and process information. Unlike regular computers, where bits can only be 0 or 1, qubits can be both 0 and 1 at the same time. This ability to be in multiple states at once makes quantum computers different and potentially much more powerful than traditional ones.

    Many countries are actively working on quantum computing and other quantum technologies, and India has a great opportunity to make significant contributions. The national quantum mission offers India a chance to play a key role, especially with favourable conditions right now. The outcomes of this mission could impact healthcare, clean energy, climate change, job creation, and much more, affecting every citizen’s life.

    Objectives of the National Quantum Mission

    With the broader aim to harness quantum technologies in India to bolster sectors like communication, cryptography, and computing, National Quantum Mission has outlined specific objectives to advance India’s capabilities in the quantum realm:

    • Quantum Computing Evolution: Develop intermediate-scale quantum computers with 20-50 physical qubits (3 years), 50-100 physical qubits (5 years), and 50-1000 physical qubits (8 years) across platforms like superconducting and photonic technologies to advance computational capabilities.
    • Satellite-Based Quantum Communication: Establish satellite-enabled quantum-secured communication between two ground stations over 2000 km within India and extend this technology for long-distance secure quantum communication with other countries.
    • Inter-City Quantum Key Distribution (QKD): Implement quantum-secured communication spanning 2000 km using trusted nodes and wavelength division multiplexing (WDM) on existing optical fiber infrastructure, enhancing secure data transmission.
    • Multi-Node Quantum Networks: Develop a multi-node quantum network incorporating quantum memories, entanglement swapping, and synchronized quantum repeaters at each node, enabling scalable and robust quantum communication (2-3 nodes).
    • Advanced Quantum Sensing & Clocks: Design highly sensitive quantum devices including magnetometers with 1 femto-Tesla/sqrt(Hz) sensitivity in atomic systems and better than 1 pico-Tesla/sqrt(Hz) in Nitrogen Vacancy centers, gravity sensors with better than 100 nano-meter/second² sensitivity, and atomic clocks with 10⁻¹⁹ fractional instability for precision timing, navigation, and secure communication.
    • Quantum Materials & Devices: Develop and synthesize next-generation quantum materials such as superconductors, novel semiconductor structures, and topological materials for the fabrication of qubits, single-photon sources/detectors, entangled photon sources, and quantum sensing/metrological devices for applications in computing and communication.

    The National Quantum Mission (NQM) is one of the nine initiatives under the Prime Minister’s Science Technology Innovation Advisory Council (PMSTIAC), aimed at positioning India as a global leader in quantum technology. By fostering advancements in secure quantum communication, quantum computing, and precision sensing, the mission is poised to transform sectors such as telecommunications, defense, finance, and healthcare, delivering a profound societal impact.

    Implementation Strategy: Thematic Hubs (T-Hubs)

    The National Quantum Mission is a nationwide initiative driving cutting-edge advancements in quantum technology. As part of this mission, four Thematic Hubs (T-Hubs) have been set up, bringing together 14 Technical Groups across 17 states and 2 Union Territories. These hubs focus on technology innovation, skill development, entrepreneurship, industry partnerships, and global collaborations, ensuring a truly national impact. Women scientists from every corner of the country are actively encouraged to participate and benefit from the mission’s exciting programs.

    The four T-Hubs have been established across leading institutions in India:

    1. Indian Institute of Science (IISc) Bengaluru
    2. Indian Institute of Technology (IIT), Madras along with the Centre for Development of Telematics, New Delhi
    3. Indian Institute of Technology (IIT), Bombay
    4. Indian Institute of Technology (IIT), Delhi.

    These hubs were selected through a rigorous competitive process and each hub focuses on a specific quantum domain, driving advancements in Quantum Computing, Quantum Communication, Quantum Sensing & Metrology, and Quantum Materials & Devices.

    Quantum Domains of Four Thematic Hubs

    Hub-Spoke-Spike Model

    Each T-Hub will follow the Hub-Spoke-Spike model, fostering a cluster-based network where research projects (Spokes) and individual research groups (Spikes) operate alongside central hubs. This structure enhances collaboration among research institutions, allowing them to share resources and expertise more effectively.

    State-wise Funds Allocation

    The four T-Hubs selected under NQM collectively involve 152 researchers from 43 institutions nationwide, fostering a collaborative ecosystem to drive research and innovation in quantum technologies. The activities carried out by these hubs include Technology Development, Human Resource Development, Entrepreneurship Development, Industry Collaborations, and International Collaborations.

    State-wise Funds Released During 2024-2025

    Initiatives under National Quantum Mission

    Under NQM, dedicated efforts are underway to develop quantum-resilient encryption techniques and post-quantum cryptographic (PQC) frameworks, ensuring India’s critical database systems remain secure in the quantum era. Key initiatives include:

    • Quantum-Safe Ecosystem Framework: A concept paper has been developed to outline a strategic roadmap for securing and strengthening India’s digital infrastructure against quantum threats.
    • DRDO Initiatives: The Defence Research and Development Organization (DRDO) is leading projects focused on designing and testing quantum-resilient security schemes, along with quantum-safe symmetric and asymmetric key cryptographic algorithms.
    • Advancements by SETS: The Society for Electronic Transactions and Security (SETS), under the Office of the Principal Scientific Adviser (PSA), is accelerating Post-Quantum Cryptography (PQC) research. It has implemented PQC algorithms for applications such as Fast IDentity Online (FIDO) authentication tokens and Internet of Things (IoT) security.
    • C-DoT Innovations: The Centre for Development of Telematics (C-DoT), under the Department of Telecommunications (DoT), has developed cutting-edge solutions, including Quantum Key Distribution (QKD), Post-Quantum Cryptography (PQC), and Quantum Secure Video IP Phones.

    These initiatives are crucial for safeguarding India’s digital infrastructure against emerging quantum-era cybersecurity threats.

    Global Competitiveness and Strategic Impact

    The NQM has the potential to transform the country’s technology development ecosystem, making it globally competitive. It will drive advancements across key sectors such as communication, healthcare, finance, and energy, with applications in drug discovery, space exploration, banking, and security. Moreover, the mission will play a crucial role in advancing national initiatives like Digital India, Make in India, Skill India, Stand-up India, Start-up India, Self-Reliant India, and the Sustainable Development Goals (SDGs).

    Conclusion

    The National Quantum Mission (NQM) is more than just a technological initiative—it is a strategic step towards securing India’s future in the quantum era. With significant investments, world-class research collaborations, and dedicated innovation hubs, the mission is set to propel India to the forefront of the global quantum revolution.

    This initiative underscores India’s commitment to scientific excellence, economic resilience, and national security in a world where quantum technologies are poised to reshape industries and societies.

    References:

    Kindly find the pdf file 

    ****

    Santosh Kumar/ Sarla Meena/ Priya Nagar

    (Release ID: 2111953) Visitor Counter : 44

    MIL OSI Asia Pacific News –

    March 18, 2025
  • MIL-OSI Asia-Pac: Cuba Deputy Prime Minister, H.E. Dr. Eduardo Martínez Díaz Calls on Union Minister Dr. Jitendra Singh: Focus on Biomanufacturing and Strengthening Science Collaboration

    Source: Government of India (2)

    Cuba Deputy Prime Minister, H.E. Dr. Eduardo Martínez Díaz Calls on Union Minister Dr. Jitendra Singh: Focus on Biomanufacturing and Strengthening Science Collaboration

    Strengthening Science Diplomacy: India, Cuba Eye Collaboration in Vaccine Development, Bioeconomy

    Cuba Deputy PM Invites Dr. Jitendra Singh to Bio-Habana 2026 at Havana; Talks Focus on Biotech, Ayurveda, and R&D

    Posted On: 17 MAR 2025 6:07PM by PIB Delhi

    India and Cuba reaffirmed their commitment to expanding bilateral cooperation in science and technology, particularly in biotechnology and biomanufacturing, as Cuba Deputy Prime Minister H.E. Dr. Eduardo Martínez Díaz called on the Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions Dr. Jitendra Singh here today.

    The meeting, held on the occasion of the 65th anniversary of diplomatic relations between the two nations, explored avenues to deepen collaboration in medical research, vaccine development, and sustainable biomanufacturing.

    During the discussions, Dr. Jitendra Singh emphasized that collaborative research is indispensable for a science-driven society to have a global influence at scale. He noted that joining hands with the best in the world and pursuing complementary, targeted research will propel India’s scientific community to the next level of innovation, transformation, and skill development.

    The Indian Minister also stressed that the Department of Biotechnology (DBT) is increasingly focusing on collaborative research to tackle socio-economic and environmental challenges with long-term benefits.

    Highlighting India’s progress in biotechnology, Dr. Jitendra Singh spoke about DBT’s initiatives, including its role as the nodal agency for the G20 Initiative on Bioeconomy (GIB). He noted that DBT played a key role in defining the bioeconomy framework within the GIB, contributing policy measures such as Lifestyles for Sustainable Development (LiFE), the BioE3 Policy, and the National Biofuels Policy.

    These initiatives align with India’s vision of Green Growth and a Net-Zero carbon economy, underscoring India’s commitment to sustainable development, said Dr Jitendra Singh.

    The Indian side also highlighted the country’s achievements in biomanufacturing, with the BioE3 Policy aiming to revolutionize the production of bio-based high-value products. The bioeconomy, which currently contributes 4.25% to India’s GDP, has grown from $10 billion in 2014 to $151 billion in 2023, achieving this milestone two years ahead of the 2025 target.

    Dr. Eduardo Martínez Díaz provided insights into Cuba’s success in biotechnology, particularly its achievements in developing low-cost vaccines and pioneering cancer treatments. He highlighted Cuba’s focus on biomanufacturing and expressed interest in partnering with India to advance research and production capabilities.

    Both sides discussed strengthening existing agreements in health, medicine, and biotechnology, building upon previous MoUs on traditional medicine, homeopathy, and scientific collaboration. Given Cuba’s growing interest in Ayurveda and Indian naturopathy, both nations expressed optimism about expanding engagement in this sector.

    The Department of Biotechnology also emphasized its role in accelerating vaccine development and manufacturing through initiatives such as “Mission COVID Suraksha,” launched under Atma Nirbhar Bharat 3.0. Additionally, DBT’s Public Sector Enterprise, Biotechnology Industry Research Assistance Council (BIRAC), continues to promote and nurture India’s biotech startup ecosystem, fostering innovation and entrepreneurship in the sector.

    Cuba extended an invitation to Dr. Jitendra Singh to visit Havana and lead an Indian delegation to Bio-Habana 2026, a global biotechnology conference.

    The meeting was attended by senior officials from both countries. From the Cuban side, the delegation included Ambassador H.E. Mr. Juan Carlos Marsán Aguilera, First Deputy Minister of Health H.E. Mrs. Tania Margarita Cruz Hernández, and key officials from Cuba’s biotechnology and research sectors. From the Indian side, Secretary, Department of Biotechnology, Dr. Rajesh S. Gokhale, and other senior officials participated in the discussions.

    ***

    NKR/PSM

    (Release ID: 2111926) Visitor Counter : 16

    MIL OSI Asia Pacific News –

    March 18, 2025
  • MIL-OSI Asia-Pac: CSC Academy collaborates with Shoolini University to offer quality online higher education to aspiring students across India

    Source: Government of India

    CSC Academy collaborates with Shoolini University to offer quality online higher education to aspiring students across India

    CSC Academy leverages operators (Village Level Entrepreneurs -VLEs) to boost student registrations, strengthening India’s workforce and economy

    From business to literature, CSC Academy Offers BBA, BCA, MBA, MCA, and MA (English) for aspiring students

    Posted On: 17 MAR 2025 5:24PM by PIB Delhi

    CSC Academy partners with Shoolini University, Himachal Pradesh, one of the top ranked universities in India to enhance the access to quality higher education in India.  The collaboration aims to offer undergraduate and postgraduate programs through online mode to students across country. This initiative of CSC Academy will bridge the education gap, providing industry-relevant skills and better career prospects, particularly for first-generation learners, especially in rural and disconnected areas.

    Through this initiative, Common Services Centre (CSC) operators (Village Level Entrepreneurs -VLEs) will facilitate student registrations, ensuring higher education is more accessible to aspiring students, even in remote areas. The objective of this program is to empower thousands of learners, strengthening India’s workforce and economy.

    Programs Offered:

    1. BBA (Bachelor of Business Administration)
    2. BCA (Bachelor of Computer Applications)
    3. MBA (Master of Business Administration)
    4. MCA (Master of Computer Applications)
    5. MA (English Literature)

    Students can visit their nearest CSC Centre to enroll and take the first step towards a brighter future.

    Empowering students with affordable quality education nationwide

    Sanjay Kumar Rakesh, MD & CEO, CSC SPV, expressed his enthusiasm about the initiative:
    “This collaboration between CSC Academy and Shoolini University is a significant milestone in democratizing higher education. By leveraging the CSC network, we are making affordable quality learning opportunities accessible to students in every corner of the country.”

    Ashish Khosla, President, Shoolini University, added:
    “At Shoolini University, we are committed to academic excellence and innovation. Through this partnership, we aim to provide top-quality online education at affordable fees and equip students with the necessary skills to excel in their careers.”

    This partnership underscores a shared vision of expanding educational access and nurturing future-ready professionals. Together, Shoolini University and CSC Academy are set to redefine online higher education in India.

    About Shoolini University

    Shoolini University of Biotechnology and Management Sciences, located in Solan, is one of India’s top-ranked universities. It is featured in the top 500 global universities in the Prestigious THE 2025 World University Rankings and in the top 251 to 500 in several subjects in the QS World Subjects Rankings 2024 and 2025 and has consistently featured in top 100 Universities and Institutions in the National Institutional Ranking Framework (NIRF). With over 500 patents granted and an H-Index of 150 Shoolini University is a leader in research and innovation, boasting a research quality that matches some of World’s best-known institutions.

    ****

    Dharmendra Tewari/ Navin Sreejith

    (Release ID: 2111882) Visitor Counter : 61

    MIL OSI Asia Pacific News –

    March 18, 2025
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