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Category: Economy

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: JAL JEEVAN MISSION IN TAMIL NADU

    Source: Government of India

    Posted On: 17 MAR 2025 4:54PM by PIB Delhi

    Since August 2019, Government of India is implementing Jal Jeevan Mission (JJM) – Har Ghar Jal, in partnership with States/ UTs including Tamil Nadu, to make provision of safe and adequate tap water supply to every rural household of the country.

    As reported by the state of Tamil Nadu, as on 15.08.2019, only 21.76 lakh (17.37%) rural households had tap water connections. Since then, around 89.08 lakh additional rural households have been provided with tap water connections. Thus, as on 13.03.2025, out of 1.25 crore rural households in state, the provision of tap water supply is available to approximately 1.10 crore (88.48%) rural households. The details of fund allocation, fund drawn and reported fund utilization during the last five years (2019-20, 2020-21, 2021-22, 2022-23 and 2023-24) and current financial year 2024-25 (as on 13.03.2025) in respect of Tamil Nadu are as under:

     

    (Amount in Rs. Crore)

    Year

    Central

    Expenditure under State share

    Opening Balance

    Allocation

    Fund Drawn

    Available Fund

    Reported utilization

    2019-20

    1.49

    373.87

    373.10

    378.67

    114.58

    99.14

    2020-21

    264.09

    921.99

    690.36

    954.45

    576.87

    399.57

    2021-22

    377.58

    3,691.21

    614.35

    991.93

    457.63

    496.16

    2022-23

    534.30

    4,015.00

    872.96

    1,407.26

    593.71

    664.36

    2023-24

    813.55

    3,615.56

    2,617.10

    3,430.65

    2,617.49

    2,612.30

    2024-25*

    813.15

    2,438.89

    731.67

    1,544.82

    1,297.67

    1,452.63

    Source: JJM-IMIS                                                                                          *as on 13.03.2025

    As reported by Tamil Nadu, the state has faced several challenges in implementation of JJM which includes absence of perennial rivers, presence of extensive hard rock strata with less ground water sources and 57% of the blocks falling under over-exploited, critical and semi-critical categories. To address these challenges and for sustainable water supply, the state government plans to connect every village in the state through a Combined Water Supply Scheme (CWSS) / Multi Village Schemes (MVS) with river and dam-based sources. In addition, regular review meetings are being conducted by state officials with the field engineers and contractors to speed up the progress of works under JJM.    

    As informed by the state government of Tamil Nadu, following measures are being taken to ensure long-term sustainability of rural water supply systems, especially in terms of maintenance and quality monitoring:

    • Performance based operations and maintenance (O&M) contract is implemented to ensure proper maintenance and supply of earmarked quantity of water upto tail end habitations. As per the performance-based contract, maintenance of CWSS including chemicals, attending the leaks, bursts and ensuring the supply of earmarked quantity to be beneficiaries will be responsibility of the contractor.
    • To ensure quality monitoring, TWAD PMS software is used for O&M schemes in which details such as daily pumping quantity, beneficiary wise supply, leaks and bursts, etc., are being reported and monitored at the highest level.
    • The O&M monitoring cell has been established at the Head Office of TWAD Board to collect feedback from five randomly selected village panchayats each day, in order to ascertain the field reality in maintenance of water supply schemes.
    • An Emergency Information Response Centre (EIRC) is constituted at the TWAD Board, Head office to receive any complaints related to Bulk Water supply.
    • Single village schemes and in-village components of Multi Village Schemes are maintained by the village panchayats / VWSC concerned with the technical guidance from RD&PR Department.
    • One candidate per village panchayat are being trained under Nal Jal Mitra Multi skilling programme so as to maintain the SVS / in-village components by the VPs.

     

    Further, as reported by state of Tamil Nadu on JJM-IMIS, there are 113 drinking water quality testing laboratories in the state to encourage water quality testing to ensure potable drinking water supply. Also, to empower the communities to monitor the water quality, States/ UTs have also been advised to identify and train 5 persons, preferably women, in every village to conduct water quality. So far, the state of Tamil Nadu has trained 62,898 women for FTK testing.

    This information was provided by THE MINISTER OF STATE FOR JAL SHAKTI, SHRI V. SOMANNA in a written reply to a question in Rajya Sabha today.

    *****

    Dhanya Sanal K

    Director

    (Rajya Sabha US Q1840)

    (Release ID: 2111864) Visitor Counter : 129

    MIL OSI Asia Pacific News –

  • MIL-OSI: Hallador Energy Company Reports Fourth Quarter and Full Year 2024 Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    – Q4 2024 Total Revenue of $94.2 Million; FY’24 Total Revenue of $404.4 Million –
    – Q4 2024 Operating Cash Flow up Materially to $32.5 Million; FY’24 Operating Cash Flow of $65.9 Million –
    – Q4 2024 Adjusted EBITDA up ~3x YoY to $6.2 Million; FY’24 Adjusted EBITDA of $16.8 Million –

    TERRE HAUTE, Ind., March 17, 2025 (GLOBE NEWSWIRE) — Hallador Energy Company (Nasdaq: HNRG) (“Hallador” or the “Company”) today reported its financial results for the fourth quarter and full year ended December 31, 2024.

    “2024 was a transformative year for Hallador as we continued our evolution from a bituminous coal producer to a vertically integrated independent power producer (“IPP”), while also advancing our products and services up the energy value chain,” said Brent Bilsland, President and Chief Executive Officer. “This deliberate transition aligns with market trends and reflects our conviction in the superior economics of the IPP business model. In fall 2024, we reached an important milestone in our transformation by signing a non-binding term sheet with a leading global data center developer on a transaction that would, if completed, sell a majority of our power production and accredited capacity at enhanced margins for more than a decade to come. We are making meaningful progress toward finalizing definitive agreements for this transaction within the exclusivity period that runs from January through early June 2025, further strengthened by our partner’s commitment to pay up to $5 million during this period. While navigating these complex transactions requires coordination across multiple stakeholders and while there can be no assurance that definitive agreements will be entered into, we remain encouraged by our partner’s commitment and believe this strategic partnership will drive long-term value for our shareholders.”

    “The ongoing industry shift from dispatchable generators, such as coal and natural gas, to non-dispatchable resources like wind and solar, has increased the value of our Hallador Power subsidiary due to the enhanced reliability, resilience and consistency that we provide over the less predictable non-dispatchables. At the same time, the retirement of coal-based generation has reduced demand for coal supply, impacting the value of our Sunrise Coal subsidiary. In anticipation of these market dynamics, we proactively reduced production volume and shifted our focus away from the higher cost coal reserves, which lowered our operational cash costs in the fourth quarter. These strategic actions along with lower long-term coal price projections resulted in a fourth-quarter non-cash write-down of Sunrise Coal’s carrying value by approximately $215 million, which underscores the foresight of our transition to power generation in the coming years.”

    Bilsland continued, “Looking ahead, our focus remains on maximizing the value of our Merom Power Plant while actively pursuing opportunities to acquire additional dispatchable generators that can add durability, scale, and geographic expansion to our electric operations. Additionally, we are forging strong relationships with sophisticated counterparties to secure favorable collateral terms and effectively manage our forward power sales in 2025 and 2026, which we believe will enhance our financial flexibility in the short to medium term. During 2024, we also reduced our bank debt by more than 50% to $44 million at year-end. We are excited about our continued transformation from a commodity-focused coal producer to an IPP with a secure fuel supply, a strategy we believe will unlock expanding energy market margins, drive sustainable growth, and enhance cash flow generation for our shareholders.”

    Fourth Quarter 2024 Highlights

    • Hallador advanced its restructuring efforts for its subsidiary Sunrise Coal, focusing on production optimization and cost reductions to strengthen its operations.
      • During 2024, the Company reduced its coal production volume by approximately 40% and shifted its focus away from the higher cost portions of its coal reserves. This optimization of coal production reduced Hallador’s operational cash cost structure to better align its coal strategy to support its internal electric generation.
      • As a result of reducing coal production, optimizing its reserve base, and the declining price of contracted coal sales, Hallador realized an approximate $215 million non-cash write down in the fourth quarter associated with the carrying value of its Sunrise Coal subsidiary.
    • The Company continues to shift its revenue mix to prioritize electric sales as an independent power producer.
      • Fourth quarter electric sales were $69.7 million or 74% of total Q4 revenue, compared to $37.1 million or 31% of total Q4 revenue in the year-ago period.
      • Fourth quarter Coal sales were $23.4 million or 25% of total revenue, compared to $81.3 million or 68% of total revenue in the year-ago period.
    • Hallador continues to focus on forward sales to secure its energy position.
      • At year-end, Hallador had total forward energy, capacity and coal sales to 3rd party customers of $1.1 billion through 2029, up from $937.2 million at the end of the third quarter.
      • Subsequent to year end, Hallador signed an exclusive commitment agreement with a leading global data center developer, effective January 2, 2025. This agreement is in furtherance of the previously announced non-binding term sheet signed during the third quarter of 2024, reflecting an important milestone as both the Company and the developer seek to finalize a definitive transaction agreement to support the delivery of energy and capacity (through a utility partner) to a potential data center development within the State of Indiana. The completion of this proposed transaction is subject to, among other matters, the negotiation and execution of definitive agreements and there can be no assurance that definitive agreements will be entered into or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all.
    • The Company continues to strengthen its balance sheet.
      • Total bank debt was $44.0 million at December 31, 2024, compared to $70.0 million at September 30, 2024 and $91.5 million at December 31, 2023.
      • Total liquidity was $37.8 million at December 31, 2024 compared to $34.9 million at September 30, 2024 and $26.2 million at December 31, 2023.
     
    Financial Summary ($ in Millions and Unaudited)
                             
        Q1 2024   Q2 2024   Q3 2024   Q4 2024
    Electric Sales   $ 60.7     $ 59.4     $ 71.7     $ 69.7  
    Coal Sales– 3rd Party   $ 49.6     $ 32.8     $ 31.7     $ 23.3  
    Other Revenue   $ 1.3     $ 1.0     $ 1.4     $ 1.8  
    Total Operating Revenue   $ 111.6     $ 93.2     $ 104.8     $ 94.8  
    Net Income (Loss)   $ (1.7 )   $ (10.2 )   $ 1.6     $ (215.8 )
    Operating Cash Flow   $ 18.5     $ 26.1     $ (11.2 )   $ 32.5  
    Adjusted EBITDA*   $ 6.8     $ (5.8 )   $ 9.6     $ 6.2  

    _________________________________

    *   Non-GAAP financial measure, defined as operating cash flows less effects of certain subsidiary and equity method investment activity, plus bank interest, less effects of working capital period changes, plus other amortization

    Adjusted EBITDA should not be considered an alternative to net income, income from operations, cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. Our method of computing Adjusted EBITDA may not be the same method used to compute similar measures reported by other companies.

    Management believes the non-GAAP financial measure, Adjusted EBITDA, is an important measure in analyzing our liquidity and is a key component of certain material covenants contained within our Credit Agreement, specifically the minimum quarterly EBITDA. Noncompliance with the covenants could result in our lenders requiring the Company to immediately repay all amounts borrowed. If we cannot satisfy these financial covenants, we would be prohibited under our Credit Agreement from engaging in certain activities, such as incurring additional indebtedness, making certain payments, and acquiring and disposing of assets. Consequently, Adjusted EBITDA is critical to the assessment of our liquidity. The required amount of Adjusted EBITDA is a variable based on our debt outstanding and/or required debt payments at the time of the quarterly calculation based on a rolling prior 12-month period.

    Reconciliation of the non-GAAP financial measure, Adjusted EBITDA, to Income (Loss) before Income taxes, the most comparable GAAP measure, is as follows (in thousands) for the twelve months ended December 31, 2024 and 2023, respectively.

     
    Reconciliation of GAAP “Income (Loss) before Income Taxes” to non-GAAP “Adjusted EBITDA”
    (In $ Thousands and Unaudited)
                 
           Year Ended
           December 31, 
           2024       2023 
    NET INCOME (LOSS)   $ (226,138 )   $ 44,793  
    Interest expense     13,850       13,711  
    Income tax expense (benefit)     (9,404 )     4,465  
    Depreciation, depletion and amortization     65,626       67,211  
    EBITDA     (156,066 )     130,180  
    Other operating revenue     (275 )     10  
    Stock-based compensation     4,454       3,554  
    Asset impairment     215,136       —  
    Asset retirement obligations accretion     1,628       1,804  
    Other amortization     (46,310 )     (30,613 )
    (Gain) loss on disposal or abandonment of assets, net     (50 )     398  
    Loss on extinguishment of debt     2,790       1,491  
    Equity method investment (loss)     746       552  
    Settlement of litigation     2,750       —  
    Other reclassifications     (8,043 )     —  
    Adjusted EBITDA   $ 16,760     $ 107,376  
                     
     
    Solid Forward Sales Position – Segment Basis, Before Intercompany Eliminations (unaudited):
                                                     
        2025   2026   2027   2028   2029   Total
    Power                                                
    Energy                                                
    Contracted MWh (in millions)     4.25       3.36       1.78       1.09       0.27       10.75  
    Average contracted price per MWh   $ 37.24     $ 44.43     $ 54.66     $ 52.94     $ 51.33          
    Contracted revenue (in millions)   $ 158.27     $ 149.28     $ 97.29     $ 57.70     $ 13.86     $ 476.40  
                                                     
    Capacity                                                
    Average daily contracted capacity MWh     773       727       623       454       100          
    Average contracted capacity price per MWd   $ 201     $ 230     $ 226     $ 225     $ 230          
    Contracted capacity revenue (in millions)   $ 55.95     $ 61.12     $ 51.40     $ 37.33     $ 3.47     $ 209.27  
                                                     
    Total Energy & Capacity Revenue                                                
                                                     
    Contracted Power revenue (in millions)   $ 214.22     $ 210.40     $ 148.69     $ 95.03     $ 17.33     $ 685.67  
                                                     
    Coal                                                
    Priced tons – 3rd party (in millions)     2.95       2.50       2.50       0.50       —       8.45  
    Avg price per ton – 3rd party   $ 51.04     $ 55.49     $ 56.74     $ 59.00     $ —          
    Contracted coal revenue – 3rd party (in millions)   $ 150.57     $ 138.73     $ 141.85     $ 29.50     $ —     $ 460.65  
                                                     
    TOTAL CONTRACTED REVENUE (IN MILLIONS) – CONSOLIDATED   $ 364.79     $ 349.13     $ 290.54     $ 124.53     $ 17.33     $ 1,146.32  
                                                     
    Priced tons – Intercompany (in millions)     2.30       2.30       2.30       2.30       —       9.20  
    Avg price per ton – Intercompany   $ 51.00     $ 51.00     $ 51.00     $ 51.00     $ —          
    Contracted coal revenue – Intercompany (in millions)   $ 117.30     $ 117.30     $ 117.30     $ 117.30     $ —     $ 469.20  
                                                     
    TOTAL CONTRACTED REVENUE (IN MILLIONS) – SEGMENT   $ 482.09     $ 466.43     $ 407.84     $ 241.83     $ 17.33     $ 1,615.52  
                                                     

    Forward-Looking Statements
    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act“), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act“). Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as “expects,” “believes,” “intends,” “anticipates,” “plans,” “estimates,” “guidance,” “target,” “potential,” “possible,” or “probable” or statements that certain actions, events or results “may,” “will,” “should,” or “could” be taken, occur or be achieved. Forward-looking statements include, without limitation, those relating to our ability to execute definitive agreements with respect to the non-binding term sheet with a leading global data center developer.   Forward-looking statements are based on current expectations and assumptions and analyses made by Hallador and its management in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in Hallador’s annual report on Form 10-K for the year ended December 31, 2024, and other Securities and Exchange Commission filings. Hallador undertakes no obligation to revise or update publicly any forward-looking statements except as required by law.

    Conference Call and Webcast

    Hallador management will host a conference call on Monday, March 17, 2025 at 5:30 p.m. Eastern time to discuss its financial and operational results, followed by a question-and-answer period.

    Date: Monday, March 17, 2025
    Time: 5:30 p.m. Eastern time
    Dial-in registration link: here
    Live webcast registration link: here

    The conference call will also be broadcast live and available for replay in the investor relations section of the Company’s website at www.halladorenergy.com.

     
    Hallador Energy Company
    Condensed Consolidated Balance Sheets
    As of December 31,
    (in thousands)
    (unaudited)
                 
        2024   2023
    ASSETS            
    Current assets:            
    Cash and cash equivalents   $ 7,232     $ 2,842  
    Restricted cash     4,921       4,281  
    Accounts receivable     15,438       19,937  
    Inventory     36,685       23,075  
    Parts and supplies     39,104       38,877  
    Prepaid expenses     1,478       2,262  
    Assets held-for-sale     —       1,540  
    Total current assets     104,858       92,814  
    Property, plant and equipment:            
    Land and mineral rights     70,307       115,486  
    Buildings and equipment     429,857       537,131  
    Mine development     92,458       158,642  
    Finance lease right-of-use assets     13,034       12,346  
    Total property, plant and equipment     605,656       823,605  
    Less – accumulated depreciation, depletion and amortization     (347,952 )     (334,971 )
    Total property, plant and equipment, net     257,704       488,634  
    Equity method investments     2,607       2,811  
    Other assets     3,951       5,521  
    Total assets   $ 369,120     $ 589,780  
                 
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
    Current liabilities:            
    Current portion of bank debt, net   $ 4,095     $ 24,438  
    Accounts payable and accrued liabilities     44,298       62,908  
    Current portion of lease financing     6,912       3,933  
    Contract liabilities – current     97,598       66,316  
    Total current liabilities     152,903       157,595  
    Long-term liabilities:            
    Bank debt, net     37,394       63,453  
    Convertible notes payable     —       10,000  
    Convertible notes payable – related party     —       9,000  
    Long-term lease financing     8,749       8,157  
    Deferred income taxes     —       9,235  
    Asset retirement obligations     14,957       14,538  
    Contract liabilities – long-term     49,121       47,425  
    Other     1,711       1,789  
    Total long-term liabilities     111,932       163,597  
    Total liabilities     264,835       321,192  
    Commitments and contingencies (Note 22)            
    Stockholders’ equity:            
    Preferred stock, $.10 par value, 10,000 shares authorized; none issued     —       —  
    Common stock, $.01 par value, 100,000 shares authorized; 42,621 and 34,052 issued and outstanding, as of December 31, 2024 and December 31, 2023, respectively     426       341  
    Additional paid-in capital     189,298       127,548  
    Retained earnings (deficit)     (85,439 )     140,699  
    Total stockholders’ equity     104,285       268,588  
    Total liabilities and stockholders’ equity   $ 369,120     $ 589,780  
                     
     
    Hallador Energy Company
    Condensed Consolidated Statements of Operations
    For the years ended December 31,
    (in thousands, except per share data)
    (unaudited)
                 
        2024   2023
    SALES AND OPERATING REVENUES:            
    Electric sales   $ 261,527     $ 267,927  
    Coal sales     137,448       361,926  
    Other revenues     5,419       5,025  
    Total sales and operating revenues     404,394       634,878  
    EXPENSES:            
    Fuel     49,343       103,388  
    Other operating and maintenance costs     118,364       199,855  
    Cost of purchased power     10,888       —  
    Utilities     15,914       17,730  
    Labor     116,164       152,417  
    Depreciation, depletion and amortization     65,626       67,211  
    Asset retirement obligations accretion     1,628       1,804  
    Exploration costs     260       904  
    General and administrative     26,527       26,159  
    Asset impairment     215,136       —  
    (Gain) loss on disposal or abandonment of assets, net     (50 )     398  
    Settlement of litigation     2,750       —  
    Total operating expenses     622,550       569,866  
                 
    INCOME (LOSS) FROM OPERATIONS     (218,156 )     65,012  
                 
    Interest expense (1)     (13,850 )     (13,711 )
    Loss on extinguishment of debt     (2,790 )     (1,491 )
    Equity method investment (loss)     (746 )     (552 )
    NET INCOME (LOSS) BEFORE INCOME TAXES     (235,542 )     49,258  
                 
    INCOME TAX EXPENSE (BENEFIT):            
    Current     (169 )     (164 )
    Deferred     (9,235 )     4,629  
    Total income tax expense (benefit)     (9,404 )     4,465  
                 
    NET INCOME (LOSS)   $ (226,138 )   $ 44,793  
                 
    NET INCOME (LOSS) PER SHARE:            
    Basic   $ (5.72 )   $ 1.35  
    Diluted   $ (5.72 )   $ 1.25  
                 
    WEIGHTED AVERAGE SHARES OUTSTANDING            
    Basic     39,504       33,133  
    Diluted     39,504       36,827  
                     
     
    Hallador Energy Company
    Condensed Consolidated Statements of Cash Flows
    For the years ended December 31,
    (in thousands)
    (unaudited)
                 
        2024   2023
    CASH FLOWS FROM OPERATING ACTIVITIES:            
    Net income (loss)   $ (226,138 )   $ 44,793  
    Adjustments to reconcile net income to net cash provided by operating activities:            
    Deferred income tax (benefit)     (9,235 )     4,629  
    Equity method investment (loss)     746       552  
    Cash distribution – equity method investment     —       625  
    Depreciation, depletion and amortization     65,626       67,211  
    Asset impairment     215,136       —  
    Loss on extinguishment of debt     2,790       1,491  
    (Gain) loss on disposal or abandonment of assets, net     (50 )     398  
    Amortization of debt issuance costs     1,747       3,233  
    Asset retirement obligations accretion     1,628       1,804  
    Cash paid on asset retirement obligation reclamation     (1,407 )     (3,384 )
    Stock-based compensation     4,454       3,554  
    Amortization of contract asset and contract liabilities     (70,203 )     (97,018 )
    Director fees paid in stock     150       —  
    Change in current assets and liabilities:            
    Accounts receivable     4,499       9,952  
    Inventory     (13,610 )     15,548  
    Parts and supplies     (227 )     (10,582 )
    Prepaid expenses     784       1,186  
    Accounts payable and accrued liabilities     (14,580 )     (18,992 )
    Contract liabilities     103,181       33,804  
    Other     643       610  
    Net cash provided by operating activities   $ 65,934     $ 59,414  
                     
     
    Hallador Energy Company
    Condensed Consolidated Statements of Cash Flows
    For the years ended December 31,
    (in thousands)
    (continued)
    (unaudited)
                 
        2024   2023
    CASH FLOWS FROM INVESTING ACTIVITIES:            
    Capital expenditures   $ (53,367 )   $ (75,352 )
    Proceeds from sale of equipment     4,239       62  
    Proceeds from held-for-sale assets     3,200       —  
    Investment in equity method investments     (542 )     —  
    Net cash used in investing activities     (46,470 )     (75,290 )
                 
    CASH FLOWS FROM FINANCING ACTIVITIES:            
    Payments on bank debt     (147,000 )     (59,713 )
    Borrowings of bank debt     99,500       66,000  
    Payments on lease financing     (5,633 )     —  
    Proceeds from sale and leaseback arrangement     5,134       11,082  
    Issuance of related party notes payable     5,000       —  
    Payments on related party notes payable     (5,000 )     —  
    Debt issuance costs     (673 )     (6,013 )
    ATM offering     34,515       7,318  
    Taxes paid on vesting of RSUs     (277 )     (2,101 )
    Net cash provided by (used in) financing activities     (14,434 )     16,573  
    Increase in cash, cash equivalents, and restricted cash     5,030       697  
    Cash, cash equivalents, and restricted cash, beginning of year     7,123       6,426  
    Cash, cash equivalents, and restricted cash, end of year   $ 12,153     $ 7,123  
                 
    CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:            
    Cash and cash equivalents   $ 7,232     $ 2,842  
    Restricted cash     4,921       4,281  
        $ 12,153     $ 7,123  
                 
    SUPPLEMENTAL CASH FLOW INFORMATION:            
    Cash paid for interest   $ 10,511     $ 9,966  
                 
    SUPPLEMENTAL NON-CASH FLOW INFORMATION:            
    Change in capital expenditures included in accounts payable and prepaid expense   $ 356     $ 1,882  
                     

    About Hallador Energy Company

    Hallador Energy Company (Nasdaq: HNRG) is a vertically-integrated Independent Power Producer (IPP) based in Terre Haute, Indiana. The Company has two core businesses: Hallador Power Company, LLC, which produces electricity and capacity at its one Gigawatt (GW) Merom Generating Station, and Sunrise Coal, LLC, which produces and supplies fuel to the Merom Generating Station and other companies. To learn more about Hallador, visit the Company’s website at http://www.halladorenergy.com/.

    Company Contact

    Marjorie Hargrave
    Chief Financial Officer
    (303) 917-0777
    MHargrave@halladorenergy.com

    Investor Relations Contact

    Sean Mansouri, CFA
    Elevate IR
    (720) 330-2829
    HNRG@elevate-ir.com

    The MIL Network –

  • MIL-OSI: South Plains Financial, Inc. Publishes 2024 Community Impact Report

    Source: GlobeNewswire (MIL-OSI)

    LUBBOCK, Texas, March 17, 2025 (GLOBE NEWSWIRE) — South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (the “Bank”), today announced the release of the Company’s 2024 Community Impact Report. This report demonstrates South Plains’ ongoing commitment to being a responsible corporate citizen in each of the unique communities in which the Company and the Bank operate.

    “At South Plains, we value the importance of doing business the right way, for our customers, employees and our communities,” commented Curtis Griffith, South Plains’ Chairman and Chief Executive Officer. “Our core purpose at City Bank is to use the power of relationships to help people succeed and live better by creating a great place to work, helping people achieve their goals, and investing generously in our communities. I am very proud of our achievements over the past year and excited with the many opportunities that lie ahead as we continue to strive to make a positive impact and help people live better.”

    Highlights from the 2024 Community Impact Report:

    • Provided more than $400 million in loans for small businesses, farms and community development during the year ended December 31, 2024.
    • Employees volunteered more than 4,200 hours to 184 organizations.
    • South Plains Food Bank recognized City Bank as the group of the year, as we continue to help serve more than 57,000 individuals annually.
    • Provided 1,257 hours of learning to more than 500 students in our Texas and New Mexico markets in our first full year with our EverFi partnership.

    For more information, please read the Company’s 2024 Community Impact Report, available at www.spfi.bank/communityimpact.

    About South Plains Financial, Inc.

    South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. South Plains provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.

    Available Information

    The Company routinely posts important information for investors on its web site (under www.spfi.bank and, more specifically, under the News & Events tab at www.spfi.bank/news-events/press-releases). The Company intends to use its web site as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD (Fair Disclosure) promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, investors should monitor the Company’s web site, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts.

    The information contained on, or that may be accessed through, the Company’s web site is not incorporated by reference into, and is not a part of, this document.

    Contact:

    		 Mikella Newsom, Chief Risk Officer and Secretary
      investors@city.bank
      (866) 771-3347
       

    Source: South Plains Financial, Inc.

    The MIL Network –

  • MIL-OSI Europe: Written question – Securing the EU’s external borders in the context of new migration flows – E-000996/2025

    Source: European Parliament

    Question for written answer  E-000996/2025
    to the Commission
    Rule 144
    Daniel Buda (PPE)

    Rising geopolitical tensions and instability in various regions of the world have triggered a new wave of migration to the European Union. The Member States at its external borders, including Romania, are directly affected by these flows and have responsibilities to maintain border security and also deal with asylum applications. At the same time, the pressure on asylum infrastructure and national resources is growing, and the EU’s capacity to react is often inadequate. In this context, Romania, as a border country, has to deal with additional challenges and needs additional support to bolster security and deal with migration flows efficiently.

    • 1.As the migration flows at the European Union’s external borders intensify, what concrete steps does the Commission plan to take to support the Member States on the front line, including Romania?
    • 2.Are there any plans to increase the logistical, financial and operational support for FRONTEX in vulnerable regions?
    • 3.Furthermore, in view of the social and economic implications of dealing with migrants, how does the Commission intend to support their integration, without affecting the stability of local communities?

    Submitted: 7.3.2025

    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Plan worth over EUR 100 billion – E-001001/2025

    Source: European Parliament

    Question for written answer  E-001001/2025
    to the Commission
    Rule 144
    Daniel Buda (PPE)

    The Commission has announced a plan worth EUR 100 billion to give short-term support to EU industry in response to environmental over-regulation which is contributing to a decrease in its competitiveness in the global market. This plan forms part of the Clean Industrial Deal, which aims to decarbonise traditional industries and boost the green technologies sector. The principal measures include creating an industrial decarbonisation bank financed from existing EU funds and the carbon market, and revising public procurement criteria so that they include sustainability and European preference. The Commission intends to reduce industrial emissions by up to 30 % and support investment in renewable energies and clean production. Measures to reduce energy prices and create new jobs in the green energy sector are also planned, but some industries, such as steelmaking, are at risk of rapid decline if they do not receive help urgently.

    Against the background of the Clean Industry Deal and the announced measures to support the decarbonisation of European industry, how does the Commission intend to make sure that vulnerable sectors, such as steelmaking, will receive the necessary support within a short time, bearing in mind the risk of imminent economic collapses without immediate intervention? What are the adaptation measures and the social protection measures for workers in these industries?

    Submitted: 7.3.2025

    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Study – Euro Area Risks Amid US Protectionism – 17-03-2025

    Source: European Parliament

    This paper examines the impact of US protectionist trade policies on the euro area economy, focusing on macroeconomic and financial repercussions. While direct tariff effects are mitigated by exchange rate adjustments and ECB policies, broader risks arise from global trade disruptions and financial contagion. Increased risk premia on US bonds elevate European financing costs, posing fiscal challenges. We highlight the importance of trade diversification, innovation incentives, and prudent monetary policy to mitigate economic vulnerabilities and sustain long-term growth. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 20 March 2025.

    MIL OSI Europe News –

  • MIL-OSI United Nations: ‘International Community Must Move with Urgency to Invest in Syria’s Future’, Secretary-General Tells Brussels Conference

    Source: United Nations General Assembly and Security Council

    Following is the text of UN Secretary-General António Guterres’ video message to the ninth annual Brussels Conference, “Standing with Syria: Meeting the Needs for a Successful Transition”, today:

    Excellencies, distinguished guests, I thank the European Union for hosting this conference.

    This is a watershed moment for Syria.

    Syrians are on the threshold of a historic opportunity to realize their aspirations for a peaceful, prosperous and inclusive future. But the road ahead is a rocky one.

    After 14 years of war, Syria’s economy has lost out on an estimated $800 billion in GDP [gross domestic product].

    Infrastructure for critical services has been devastated.  And millions of Syrians — inside and outside Syria — continue to need massive levels of support for food, shelter, basic services and livelihoods.

    This includes the thousands of Syrians who have returned since December.  And it includes the 5 million Syrian refugees in neighbouring countries who are deciding their next step.

    In all, over two thirds of the population require humanitarian assistance, making Syria one of the largest humanitarian crises in the world.

    But funding for the humanitarian response continues to fall short.

    The international community must move with urgency to invest in Syria’s future.

    By expanding humanitarian support and reconsidering any cuts to funding at this critical time.  By investing in Syria’s recovery, including addressing sanctions and other restrictions.  And by supporting efforts to ensure an orderly and inclusive political transition, along with the creation of institutions that serve, reflect and protect all Syrians.

    The future of Syria is a matter for Syrians to determine, and my Special Envoy is working with them to help shape that future.

    The United Nations remains committed to helping Syrians build a country where reconciliation, justice, freedom and prosperity are shared realities for all.

    This is the path to sustainable peace in Syria.  A Syria for all Syrians.  A prosperous and thriving Syria.  A Syria — finally — at peace.

    Let’s 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.

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: Department of Telecommunications (DoT) and WhatsApp Join Forces to Combat Misuse of Telecom resources for Digital Frauds and Scams

    Source: Government of India

    Department of Telecommunications (DoT) and WhatsApp Join Forces to Combat Misuse of Telecom resources for Digital Frauds and Scams

    The partnership aims to enhance digital safety through training workshops and citizen awareness campaigns.

    ‘Scam Se Bacho,’ campaign against online scams and spam

    All user safety materials will be translated into regional languages to maximize accessibility

    Posted On: 17 MAR 2025 8:29PM by PIB Delhi

    Department of Telecommunications (DoT) collaborates with WhatsApp to extend ‘Scam Se Bacho,’ Meta’s safety campaign against online scams and spam. As part of the collaboration, DoT and WhatsApp will work together to educate citizens on identifying & reporting suspected fraud communications in an effort to enhance digital safety and awareness.

    DoT has taken various Initiatives to prevent misuse of telecom resources in cybercrime and financial frauds. A citizen centric Sanchar Saathi initiative in the form of portal (https://sancharsaathi.gov.in) & Mobile App has been developed to empower citizens to report suspect suspected fraud calls/messages, know their mobile connections and Block & Trace lost/ stolen mobile handsets among other facilities. Digital Intelligence Platform (DIP) of DOT exchange bidirectional digital intelligence with 550 stakeholders like banks, LEAs, about misuse of telecom resources and subsequent action.

    In a significant step to enhance digital safety and awareness on ground, the initiative will include train-the-trainer workshops for DoT officials, Sanchar Mitras, Telecom Service Providers (TSPs), and field units. WhatsApp will also work with DoT to explore ways to build citizen centric services of Sanchar Saathi initiatives through WhatsApp platform for wider reach of Sanchar Saathi.

    Joel Kaplan, Chief Global Affairs Officer, Meta met the Union Minister of Communication and Development of North East Region, Shri Jyotiraditya Scindia today and discussed the effectiveness of ongoing collaboration of DoT and Meta. WhatsApp is collaborating with Digital Intelligence Unit of DoT and using the information provided by through DIP for proactive action on misuse of telecom resources for cybercrime and financial frauds.

    Commenting on the partnership, the Union Minister of Communication and Development of North East Region, Shri Jyotiraditya Scindia said, “As India advances on its path of digital transformation, ensuring the safety and security of our citizens remains a top priority. Our partnership with Meta strengthens this commitment to protect our people from fraudulent communications and cyber threats. By harnessing WhatsApp’s vast digital reach, we are strengthening efforts to ensure that our digital ecosystem remains secure and resilient for all”

    Joel Kaplan, Chief Global Affairs Officer, Meta, added, “The best way to stop people falling victim to scams and online fraud is to make sure they know what to look out for and what they can do to stay safe. That’s why Meta invests a great deal in technology and resources to try and stay ahead of the scammers and give people the information they need. By working with the Department of Telecommunications, we can combine our technological expertise with the government’s commitment to citizen safety and help give Indians the knowledge they need to stay safe.”

    As part of the partnership, WhatsApp will also develop informative assets in collaboration with DoT to educate users on how to identify and report online scams and spam. These will cover different types of fraud, warning signs, and reporting mechanisms available on the Sanchar Saathi.  All user safety materials will be translated into regional languages, including Hindi, Bengali, Marathi, Tamil, Telugu, Kannada, Malayalam, and Gujarati to maximize accessibility.

    DoT is steadfastly committed to preventing the misuse of telecom resources by implementing advanced solutions and working closely with various stakeholders. Awareness of the citizens will help them keeping safe in the evolving digital ecosystem.

    ****

    Samrat/ Allen

    (Release ID: 2112016) Visitor Counter : 96

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Indian Railways’ financial condition is good, providing more subsidy to passengers: Union Railway Minister

    Source: Government of India

    Indian Railways’ financial condition is good, providing more subsidy to passengers: Union Railway Minister

    The cost of travel per kilometer by train is ₹1.38, but passengers are charged only 73 paise.

    This year, 1,400 locomotives have been produced, which is more than the combined production of America and Europe.

    By March 31, Indian Railways, with 1.6 billion tons of cargo carriage, will be among the world’s top 3 countries.

    Important steps have been taken to prevent incidents like the New Delhi Railway Station accident in the future: Union Railway Minister

    Posted On: 17 MAR 2025 8:28PM by PIB Delhi

    Union Minister of Railways, Information & Broadcasting, and Electronics & Information Technology, Shri Ashwini Vaishnaw, today, during the discussion on the working of the Ministry of Railways in the Rajya Sabha, highlighted the achievements of Indian Railways and its future plans. He said that Indian Railways is not only providing safe and quality services to passengers at affordable fares but is also making a distinct identity at the global level. He also mentioned that in India, railway fares are lower compared to neighboring countries like Pakistan, Bangladesh, and Sri Lanka, whereas in Western countries, they are 10 to 20 times higher than in India.

    Regarding the subsidy being given to rail passengers, the Railway Minister said that currently, the cost of travel per kilometer by train is ₹1.38, but passengers are charged only 73 paise, meaning 47% subsidy is provided. In the financial year 2022-23, passengers were given a subsidy of ₹57,000 crore, which increased to approximately ₹60,000 crore in 2023-24 (provisional figure). Our goal is to provide safe and better services at minimal fares.

    Highlighting the benefits of railway electrification, the Union Minister said that despite the increasing number of passengers and freight transport, energy costs have remained stable. Indian Railways is working on the target of achieving ‘Scope 1 Net Zero’ by 2025 and ‘Scope 2 Net Zero’ by 2030. He informed that the export of locomotives manufactured at the Madhepura factory in Bihar will soon begin. Currently, Indian Railways’ passenger coaches are being exported to Mozambique, Bangladesh, and Sri Lanka, while locomotives are being sent to Mozambique, Senegal, Sri Lanka, Myanmar, and Bangladesh. Apart from this, bogie underframes are being exported to the United Kingdom, Saudi Arabia, France, and Australia, while propulsion parts are being sent to France, Mexico, Germany, Spain, Romania, and Italy.

    This year, 1,400 locomotives have been produced in India, which is more than the combined production of America and Europe. Along with this, 2 lakh new wagons have been added to the fleet. The Minister stated that in the financial year ending March 31, Indian Railways will transport 1.6 billion tons of cargo, making India one of the top three countries in the world, including China and America. This reflects the increasing capacity of the railway and its significant role in the logistics sector.

    Talking about railway safety, Union Minister Shri Ashwini Vaishnaw said that 41,000 LHB coaches have been prepared, and all ICF coaches will be converted into LHB coaches. Long rails, electronic interlocking, fog safety devices, and the ‘Kavach’ system are being implemented rapidly. Thanking Prime Minister Shri Narendra Modi, Shri Vaishnaw stated that earlier, the railway used to receive ₹25,000 crore in support, which has now increased to more than ₹2.5 lakh crore, leading to significant infrastructure improvements. Meanwhile, 50 Namo Bharat trains are being manufactured, offering both AC and non-AC options for short-distance travel.

    Regarding the recent accident at New Delhi Railway Station, the Union Railway Minister informed the House that a high-level committee is investigating this tragic incident. CCTV footage and all data have been secured, and facts are being examined by talking to about 300 people. Important steps have been taken to prevent such incidents in the future.

    The Minister said that our government is committed to the poorest of the poor. That is why the number of general coaches is being increased by 2.5 times compared to AC coaches. According to the current production plan, there is a program for the manufacturing of 17,000 non-AC coaches. Along with this, he stated that the financial condition of Indian Railways is good, and continuous efforts for improvement are ongoing. The railway has successfully overcome the challenges related to the COVID pandemic. The number of passengers is increasing, and freight transport is also rising. Now, railway revenue is about ₹2.78 lakh crore, and expenses are ₹2.75 lakh crore. Indian Railways is covering all major expenses from its own income, which has been made possible due to the better performance of the railway.

    In his concluding remarks in the Rajya Sabha, Shri Vaishnaw assured that the railway would emerge as a more modern, safe, and environmentally friendly transportation system in the future.

    ****

    Dharamendra Tewari/Shatrunjay Kumar

    (Release ID: 2112013) Visitor Counter : 60

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Smt. Nirmala Sitharaman launches PM Internship Scheme App in presence of MoS, Corporate Affairs Shri Harsh Malhotra

    Source: Government of India (2)

     Smt. Nirmala Sitharaman  launches PM Internship Scheme App  in presence of MoS, Corporate Affairs  Shri Harsh Malhotra

    PM Internship Scheme has the potential to bridge the gap between classroom learning and industry expectations- Finance Minister

    Posted On: 17 MAR 2025 8:18PM by PIB Delhi

    The Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, in the presence of MoS Corporate Affairs,  and MoS Road and Transport  Shri Harsh Malhotra launched  a dedicated mobile app for the Prime Minister’s Internship Scheme on 17th March, at Samanvay Hall No. 5, at Parliament, New Delhi.

    The App has the following features:

    • Intuitive interface with a clean design and effortless navigation
    • Easy registration through Aadhaar face authentication
    • Effortless navigation – Eligible candidates can sift through opportunities by location etc.
    • Personalized dashboard
    • Access to a dedicated support team
    • Real time alerts to keep candidates abreast of new updates

     

    Smt. Nirmala Sitharaman commended the Prime Minister’s vision in introducing a package of five schemes to promote employment, skilling, and opportunities. She emphasized that the PM Internship Scheme has the potential to bridge the gap between classroom learning and industry expectations, thereby enhancing youth employability. She further urged the industry to actively participate in the scheme, highlighting that their involvement would contribute to nation-building while fostering a skilled workforce in the country.

    The Minister of State, Shri Harsh Malhotra observed that the launch of the PMIS App will significantly enhance accessibility to internship opportunities for the youth.

    With the PMIS application, the users can also explore the referral program recently announced by Ministry of Corporate Affair (MCA). The referral program would enable the registered youth to refer other eligible candidates for the scheme and win rewards. The registered youth on the PM Internship portal (web browser) can also participate in this referral program.

    The Prime Minister’s Internship Scheme (PMIS Scheme) announced in the Budget 2024-25, aims to provide internship opportunities to one crore youth in top 500 companies in five years. As an initiation to this Scheme, the Pilot Project targeted at providing 1.25 lakh internship opportunities to the youth was launched on 03.10.2024 for the Financial Year 2024-25. Salient features of the Scheme are:

    • 12-month paid internships in top companies of India.
    • This scheme provides an opportunity to the youth to get training, and gain experience and skills within the real-life environment (at least six months) of the businesses or organizations that help in bridging the gap between academic learning and industry requirements, in turn, assisting enhancement of her/his employability.
    • The scheme targets individuals aged 21 to 24 who are currently not enrolled in any full-time academic program or not in full-time employment, offering them a unique chance to kick-start their careers.
    • Each intern will be supported with monthly financial assistance of ₹5,000, supplemented by one-time financial assistance of ₹6,000.

    In the round I of the pilot project (October – December 2024), over 1.27 lakh opportunities in about 745 districts were posted by around 280 companies across 25 sectors. Over 82,000 offers were made to the candidates.

    The round II of the Pilot Project commenced in January 2025 and about 327 companies have posted more than 1.18 lakh opportunities (both new and edited unfilled opportunities of the previous round) across the country.  Of these, around 37,000 opportunities are for graduates, 23,000 for ITI holders, 18,000 for diploma holders, 15,000 for 12th-grade and 25,000 are available for candidates with 10th qualifications. Opportunities spanning across various sectors such as Automobile, Travel & Hospitality, Banking & Finance etc. and varied job roles, such as sales and marketing, technical roles for ITI passouts, HR internships, and more, have been provided. These opportunities are spread across 735 districts in all states and union territories of the country.

    In Round II of the Pilot Project, initiatives have been undertaken to enhance access to and spread awareness about the PM Internship Scheme. The dashboard of the PMIS Portal has been simplified, made more user-friendly, and greater details of the opportunities and roles offered have been provided. Officials from the MCA, state governments, and industry partners interacted with the youth at more than 80 outreach events held at various educational institutes, such as colleges and Rozgar Melas.

    A framework for assessment of the implementation of the Pilot Project, and to acknowledge and reward the efforts of the State and UTs in the implementation of the PMIS, has been introduced in round II of PMIS.

    The internship application window for round II is open up till 31ST March, 2025. 

    Eligible youth can apply through the new mobile app or through the Portal accessible at https://pminternship.mca.gov.in/.

    ****

    NB/AD

    (Release ID: 2112011) Visitor Counter : 16

    MIL OSI Asia Pacific News –

  • MIL-OSI Global: Trump shrugs off stock market slump, but economic warning signs loom

    Source: The Conversation – UK – By Conor O’Kane, Senior Lecturer in Economics, Bournemouth University

    bodrumsurf / Shutterstock

    During Donald Trump’s first term as US president, he regularly referred to rising stock markets as evidence of the success of his economic policies. “Highest Stock Market EVER”, Trump wrote on social media in 2017 after record gains. “That doesn’t just happen!”

    And after securing a second term in November 2024, some of Trump’s close advisers told the New York Times that the president “sees the market as a barometer of his success and abhors the idea that his actions might drive down stock prices”.

    This, in addition to a broader economic policy agenda committed to lower regulation and significant tax cuts, had Wall Street investors bullish about their prospects under the new Trump administration.

    But fears of an escalating trade war have seen the S&P 500, an index of the leading 500 publicly traded companies in the US, drop more than 10% from its February 2025 high. A decline of this magnitude in a major index is what professional traders refer to as a “correction”. In less than a month, roughly US$5 trillion (£3.9 trillion) has been wiped off the value of US stocks.

    So, what exactly is driving down stock prices? Economists cite the president’s brinkmanship, as well as his start-stop approach to tariffs with Canada and Mexico, as having rattled global investors. Some commentators believe this “chaotic” trade agenda has created huge uncertainty for consumers, investors and businesses.

    In view of such policies, a recent JP Morgan report said that US economic policy was “tilting away from growth”, and put the chances of a US recession at 40%, up from 30% at the start of the year. Moody’s Analytics has upped the odds of a US recession from 15% to 35%, citing tariffs as a key factor driving the downturn in its outlook.

    Any economic downturn would have an adverse impact on the profitability of US corporations, and the declining share prices reflect the negative outlook from investors.

    So far, the Trump administration appears unfazed by the US stock market decline. In an address to Congress on March 4, Trump declared his use of tariffs was all about making America rich again. “There will be a little disturbance, but we’re okay with that,” he said.

    The White House has, since then, announced that some short-term pain may be necessary for Trump to implement his trade agenda successfully, which is designed to bring manufacturing jobs back to the US.

    So, should we read this economic turbulence as a temporary blip? Or is it symptomatic of a more fundamental shift in the US economy?

    Change of strategy

    Stephen Miran, who was recently confirmed as chairman of Trump’s council of economic advisers, wrote a paper in November 2024 titled: A User’s Guide to Restructuring the Global Trading System. The paper gives us an insight into the Trump administration’s wider economic strategy.

    It sets out Trump’s desire “to reform the global trading system and put American industry on fairer ground vis-a-vis the rest of the world”. Miran cites persistent US dollar overvaluation as the root cause of economic imbalances.

    Miran does not believe that tariffs are inflationary, and argues that their use during Trump’s first presidential term had little discernible macroeconomic consequences. He does concede that tariffs may eventually lead to an appreciation – or further overvaluation – of the US dollar. However, Miran sees the extent of that appreciation as “debatable”.

    He sees tariffs as a tool for leverage in trade negotiations. The administration could, for example, agree to a reduction in tariffs in exchange for significant investment is the US by key trading partners. China investing in car manufacturing in the US is specifically mentioned in his analysis.

    Miran also states his belief that tariffs can be used to raise tax revenues from foreigners in order to retain low tax rates on American citizens.

    Some economists agree that the US dollar is overvalued. A combination of its role as the world’s reserve currency, as well as the attractiveness of the US economy as an investment destination, fuels demand for the US dollar and makes it stronger.

    A strong US dollar has made American manufacturing exports less competitive. This has cost American jobs. The “rust belt” states of the north-eastern and mid-western US have experienced a decline in manufacturing employment over the past 40 years, which is evidence of this.

    However, it is worth noting that the many US manufacturers who import manufactured parts or components to make their products do benefit from a stronger dollar. This is because it makes the parts and materials they are importing cheaper. US mortgage holders and investors also benefit from a stronger dollar through lower interest rates on loans.

    Steven Englander, the head of research and strategy at Standard Chartered bank, believes there are some contradictions in the Trump administration’s approach.

    In a recent interview with the Financial Times, Englander said: “The problem for the new administration is that it simultaneously wants a weaker dollar, a reduced trade deficit, capital inflows, and the dollar to remain the key currency in international reserves and payments.”

    Reduced trade deficits and capital inflows would typically strengthen the US dollar, as does its position as the world’s reserve currency.

    As Miran says in his paper: “There is a path by which the Trump administration can reconfigure the global trading and financial systems to America’s benefit. But it is narrow, and will require careful planning, precise execution, and attention to steps to minimise adverse consequences.”

    Only time will tell whether the Trump administration can successfully navigate this “narrow” path. In the meantime, the recent turbulence in US stock prices appears to be acceptable to the Trump administration in their pursuit of reforming the global financial system.

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

    – ref. Trump shrugs off stock market slump, but economic warning signs loom – https://theconversation.com/trump-shrugs-off-stock-market-slump-but-economic-warning-signs-loom-251988

    MIL OSI – Global Reports –

  • MIL-OSI: B.C. On-Farm Technology Adoption Program Continues Support to B.C. Farmers

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 17, 2025 (GLOBE NEWSWIRE) — Starting March 17, farmers can apply to receive funding support to acquire new technology to support their operations through the B.C. On-Farm Technology Adoption Program.

    Launched in 2023 and delivered by Innovate BC, the B.C. On-Farm Technology Adoption Program provides B.C. and federal cost-shared funding to eligible participants, through the Sustainable Canadian Agricultural Partnership (Sustainable CAP), to adopt new technologies on-farm that will enhance profitability, productivity, and/or efficiency. This is the third intake for the program and focuses on new commercially available farming technologies that will help grow, raise, harvest, pack or store food more effectively, productively or profitably. The program will focus on funding labour-saving technologies that help address labour shortages and improve processes for labour-intensive tasks. 

    “In light of the heightened focus on sustainability, now more than ever, it is crucial for consumers to buy local produce, as this not only supports local economies and reduces carbon footprints, but also provides fresher, more flavourful food.” said Lana Popham, Minister of Agriculture and Food. “Thanks to this program, we’re helping farmers and food producers all over the province use technology to increase their efficiency and production, as well as address labor challenges the sector is facing. This new intake will allow more producers to have the latest equipment and software on their farms so they can be more competitive, improve their bottom line, and produce more of the food that feeds our communities.”

    Applications for this round of funding are open from March 17 to April 28. Farmers with operations within British Columbia can apply, with up to $2.25M available from the governments of Canada and British Columbia for the current 2025/2026 fiscal year. 

    Farmers can use the funding to buy new technologies, such as equipment and robotics that can operate independently and adapt to their environment. Examples are automated weeding equipment and harvesters or machinery that can perform tasks with minimal human interaction, like automated grading and sorting machines. 

    As of March 17, 2025, the program has awarded $4.12M to support 85 farm projects in B.C. with adopting new technologies.

    “With rising costs and shifting market conditions, investing in innovation is more critical than ever to strengthen local food security and keep B.C. farms competitive,’ said Peter Cowan, President + CEO of Innovate BC, “The B.C. On-Farm Technology Adoption Program helps farmers access cutting-edge agritech that boosts efficiency and resilience, ensuring they can keep their business productive and remain key contributors to our economy and communities. Innovate BC is proud to deliver this program on behalf of the Ministry of Agriculture and Food, supporting a strong agricultural sector and a more prosperous B.C.”

    “Through B.C.’s Integrated Marketplace, we are supporting our agriculture sector to adopt new technologies to make their businesses more productive and profitable, and make our economy stronger,” said Diana Gibson, Minister of Jobs, Economic Development and Innovation. “Through innovation, we can support our farmers and grow not only food but also a more resilient economy.” 

    Part of Innovate BC’s Integrated Marketplace suite of programming, the B.C. On-Farm Technology Adoption Program is funded by the Sustainable Canadian Agricultural Partnership (Sustainable CAP). The Sustainable CAP is a five-year, $3.5-billion investment by federal, provincial and territorial governments to strengthen the competitiveness, innovation and resilience of Canada’s agriculture, agrifood and agriculture-based products sector. This includes $1 billion in federal programs and activities and a $2.5-billion commitment that is cost-shared 60% federally and 40% provincially/territorially for programs that are designed and delivered by provinces and territories.

    To learn more about Innovate BC, visit innovatebc.ca.

    Additional Quotes

    Sam DiMaria, Owner, Bella Rosa Orchards

    “Labour is the highest operating cost for my orchard, and I knew that adopting a mobile picking platform could help address this. The B.C. On-Farm Technology Adoption Program support allowed me to bring in the platform, which is already making a difference. Emerging technologies play a crucial role in making farming more efficient and cost-effective. Farmers must be willing to learn and embrace these changes, and government support can help us transition successfully.” 

    Media Contact

    Michael Gleboff
    Communications + Community Manager
    mgleboff@innovatebc.ca
    604–602-5210

    About Innovate BC

    A Crown Agency of British Columbia, Innovate BC works to foster innovation across the province and bolster the growth of the local economy through delivering a wide range of programs that help companies start and scale, access talent and encourage technology development, commercialization, and adoption. Innovate BC also harnesses crucial data collection and research, and works to forge strategic industry and community partnerships that create more opportunities for B.C. innovators.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/12b1c076-c344-428e-8b97-1f55a4d5ac89

    The MIL Network –

  • MIL-OSI Global: Why Americans care so much about eggs 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 eggs prices – and how this issue got so political – https://theconversation.com/why-americans-care-so-much-about-eggs-prices-and-how-this-issue-got-so-political-251752

    MIL OSI – Global Reports –

  • MIL-OSI Canada: Bank of Canada announces planned changes to its Contingent Term Repo Facility

    Source: Bank of Canada

    The Bank of Canada is announcing changes to the eligibility criteria and review process for applications for its Contingent Term Repo Facility (CTRF). As non-bank financial institutions (NBFIs) play an increasingly important role in fixed-income markets and in the global financial system, these changes provide greater clarity on the eligibility of NBFIs and define more precise criteria to guide the Bank’s review of applications for eligible counterparties. These changes will inform the Bank’s decision on whether to grant individual applicants access to the CTRF.

    The Bank will also make operational changes to enhance the efficiency of the CTRF. These changes include onboarding eligible counterparties prior to activation of the CTRF, conducting occasional readiness testing, and enhancing existing systems and processes that support the CTRF when the facility is used.

    CTRF eligibility criteria

    To ensure the CTRF remains an effective liquidity tool to address market disruptions in times of severe market stress, eligible counterparties will be subject to the following criteria:

    1. Significant activity: Eligible counterparties must demonstrate, to the satisfaction of the Bank, significant activity in Canadian-dollar money markets and/or fixed-income markets, either through the size of their CTRF eligible assets and/or level of repo activity.
    2. Regulation: The scope of the Bank’s review of eligible counterparties will depend on the extent to which they are subject to federal or provincial financial and/or market regulation.
    3. Risk assessment: Eligible counterparties that demonstrate significant activity and that are subject to federal or provincial regulation will undergo a standard risk assessment, while those that demonstrate significant activity but that are unregulated will be subject to a more comprehensive risk assessment.

    To better delineate the Bank’s liquidity facilities, any deposit-taking institutions currently eligible for the Bank’s Standing Term Liquidity Facility (STLF) will no longer be eligible for the CTRF.

    Additionally, to enhance efficiency and improve operational readiness, the Bank plans to transition CTRF operations from a bilateral standing facility to a fixed-rate, full allotment auction that uses the Bank of Canada Auction System (BCAS) to conduct the Bank’s other overnight and term repo operations. Under this new format, if the CTRF is activated, the auction will be conducted daily at a specified time and will include multiple predetermined tenors (up to a maximum of 30 days). Further details and implementation of these policy changes will occur later this year, at which point onboarding of new CTRF-eligible participants will commence.

    For further information, please contact:

    Director
    Financial Markets Department
    Bank of Canada

    Policy and Operations Advisor
    Financial Markets Department
    Bank of Canada

    MIL OSI Canada News –

  • MIL-OSI USA: DOE Approves Loan Disbursement for Palisades Nuclear Plant

    Source: US Department of Energy

    WASHINGTON– U.S. Department of Energy (DOE) Secretary Chris Wright today announced the release of the second loan disbursement to Holtec for the Palisades Nuclear Plant. Today’s action releases $56,787,300 of the up to $1.52 billion loan guarantee to Holtec for the Palisades project, which will provide 800MW of affordable, reliable baseload power in Michigan.

    “Unleashing American energy dominance will require leveraging all energy sources that are affordable, reliable and secure – including nuclear energy,” said Secretary Wright. “Today’s action is yet another step toward advancing President Trump’s commitment to increase domestic energy production, bolster our security and lower costs for the American people.”

    The Palisades Nuclear Plant will be America’s first restart of a commercial nuclear reactor that ceased operations, subject to U.S. Nuclear Regulatory Commission (NRC) licensing approvals. The project is projected to support or retain up to 600 high-quality jobs in Michigan––many of them filled by workers who had previously been at the plant for over 20 years.

    Today’s disbursement is Holtec’s second disbursement of funds from the Loan Programs Office (LPO) since the announcement of its financial loan close in September 2024. LPO funds go toward the plant restart and ensuring the plant is NRC compliant.

    This announcement highlights DOE’s commitment to advance President Trump’s agenda of unleashing affordable, reliable, and secure energy through investing in projects across the country that support American jobs, bolster domestic supply chains, and strengthen America’s position as a world energy leader.

    MIL OSI USA News –

  • MIL-Evening Report: Streaming, surveillance and the power of suggestion: the hidden cost of 10 years of Netflix

    Source: The Conversation (Au and NZ) – By Marc C-Scott, Associate Professor of Screen Media | Deputy Associate Dean of Learning & Teaching, Victoria University

    Shutterstock

    This month marks a decade since Netflix – the world’s most influential and widely subscribed streaming service – launched in Australia.

    Since then the media landscape has undergone significant transformation, particularly in terms of how we consume content. According to a 2024 Deloitte report, Australians aged 16–38 spent twice as much time watching subscription streaming services as free-to-air TV (both live and on-demand).

    Part of the success of streaming services lies in their ability to provide content that feels handpicked. And this is made possible through the use of sophisticated recommender systems fuelled by vast amounts of user data.

    As streaming viewership continues to rise, so too do the risks associated with how these platforms collect and handle user data.

    Changing methods of data collection

    Subscription streaming platforms aren’t the first to collect user data. They just do it differently.

    Broadcasters have always been invested in collecting viewers’ information (via TV ratings) to inform promotional schedules and attract potential advertisers. These data are publicly available.

    In Australia, TV data are collected anonymously via the OzTam TV ratings system, based on the viewing habits of more than 12,000 individuals.

    Each television in a recruited household is connected to a metering box. Members of the household select a letter that corresponds to them, after which the box records their viewing data, including the program, channel and viewing time. But this system doesn’t include broadcasters’ video-on-demand services, which have been around since the late 2000s (with ABC iView being the first).

    In 2016 a new system was launched to measure broadcast video-on-demand data separately from OzTam ratings.

    However, it collected data in a rolling seven-day report, in the form of total minutes a particular program had been watched online (rather than the number of individuals watching, as was the measurement for TV). This meant the two data sources couldn’t be combined.

    In 2018, OzTAM and Nielsen announced the Virtual Australia (VoZ) database which would integrate both broadcast TV and video-on-demand data. It took six years following the announcement for the VoZ system to become the industry’s official trading currency.

    Streamers’ approach

    Streaming platforms such as Netflix have a markedly different approach to acquiring data, as they can source it directly from users. These data are therefore much more granular, larger in volume, and far less publicly accessible due to commercial confidence.

    In recent years, Netflix has shared some of its viewing data through a half-yearly report titled What We Watched. It offers macro-level details such as total hours watched that year, as well as information about specific content, including how many times a particular show was viewed.

    Netflix also supplies information to its shareholders, although much of this focuses on subscriber numbers rather than specific user details.

    The best publicly accessible Netflix data we have is presented on its Tudum website, which includes global Top 10 lists that can be filtered by country.

    The main data Netflix doesn’t share are related to viewer demographics: who is watching what programs.

    Why does it matter?

    Ratings and user data offer valuable insights to both broadcasters and streaming services, and can influence decisions regarding what content is produced.

    User data would presumably have been a significant factor in Netflix‘s decision to move into live content such as stand-up comedy, the US National Football League (NFL) and an exclusive US$5 billion deal with World Wrestling Entertainment.

    Streaming companies also use personal data to provide users with targeted viewing suggestions, with an aim to reduce the time users spend browsing catalogues.

    Netflix has an entire research department dedicated to enhancing user experience. According to Justin Basilico, Netflix’s Director of Machine Learning and Recommender Systems, more than 80% of what Netflix users watch is driven by its recommender system.

    As noted in its privacy statement, Netflix draws on a range of information to provide recommendations, including:

    • the user’s interactions with the service, such as their viewing history and title ratings
    • other users with similar tastes and preferences
    • information about the titles, such as genre, categories, actors and release year
    • the time of day the user is watching
    • the language/s the user prefers
    • the device/s they are watching on
    • how long they watch a particular Netflix title.

    If a user isn’t happy with their recommendations, they can try to change them by editing their viewing and ratings history.

    Personalised or predetermined?

    The rise of streaming hasn’t only transformed how we watch TV, but also how our viewing habits are tracked and how this information informs future decisions.

    While traditional broadcasters have long relied on sample anonymised data to measure engagement, streaming platforms operate in a landscape in which detailed user data can be used to shape content, recommendations and business decisions.

    While personalisation makes streaming more appealing, it also raises important questions about privacy, transparency and control. How much do streaming platforms really know about us? And are they catering to our preferences – or shaping them?

    Marc C-Scott 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. Streaming, surveillance and the power of suggestion: the hidden cost of 10 years of Netflix – https://theconversation.com/streaming-surveillance-and-the-power-of-suggestion-the-hidden-cost-of-10-years-of-netflix-244921

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ASIC puts payday lenders on notice they may be breaching the law

    Source: The Conversation (Au and NZ) – By Jeannie Marie Paterson, Professor of Law (consumer protections and credit law), The University of Melbourne

    Late last week, corporate watchdog the Australian Securities and Investments Commission (ASIC) issued a warning to lenders that provide high-fee small-amount loans – known as payday lenders – that they may be breaching consumer-lending laws.

    Trying to provide effective protections to borrowers of these small loans is fiendishly difficult. People in financial hardship turn to payday loans, even though they are expensive. Lenders can charge high fees for such loans but may change products to avoid regulation.

    If access to payday loans dries up, borrowers in need are likely to turn to other products. And so the cycle begins again.

    The regulator’s report might be a prompt to government to think about other strategies.

    What is payday lending and why is it a concern?

    Payday lending is the name commonly given to loans of small amounts (under A$2,000) for short periods of time (16 days to one year) that promise quick credit checks and don’t require collateral.

    They are called payday loans because the original idea was borrowers would pay them back when they got their next pay cheque. But often that is not how it works, and borrowers struggle to repay.

    Payday lenders offer fast cash, but there are strings attached.

    ASIC said the total value of small and medium loans provided to consumers in 2023–24 was $1.3 billion. An earlier study by Consumer Action Law Centre found 4.7 million individual payday loans were written over three years to July 2019.

    Why do borrowers use (expensive) payday loans?

    Small, short-term loans like payday loans have been around for a long time – and in part, they respond to a reality that, for many people, their income is not sufficient to give them buffers.

    Payday loans can be used by borrowers who don’t have savings or credit cards to pay for one-off unexpected bills – a broken fridge, an emergency medical appointment or even utilities bills. But they can also be used to meet daily living expenses.

    There are limited other practical options – for some types of bills, there are hardship schemes, but these are not always well-known. For one-off expenses, there are low and no-interest loan schemes but they can be quite restrictive. Free financial counselling may also help, but knowledge and access can be an issue.

    Payday lenders have been moving customers into bigger loans that are harder to repay.
    Doucefleur/Shutterstock

    Why were new laws dealing with payday loans introduced?

    Payday lenders have typically charged very high fees. In 2013, concerns about the high cost of payday loans led to specific provisions to limit the fees that could be charged.

    Nonetheless, regulators and consumer advocates remain concerned these kinds of loans lock borrowers into debt spirals because they keep accumulating and that lenders manage to avoid many of the restrictions.

    Further reforms in 2022 introduced a presumption a loan is unsuitable if the borrower has already taken out two payday loans in the preceding 90 days. The reforms also prohibit payday lenders from offering loans where the repayments would exceed a prescribed proportion of a borrower’s income.

    What did ASIC say?

    ASIC said it found a trend of payday lenders moving borrowers who previously might have borrowed relatively small amounts ($700 to $2,000) to medium-sized loans ($2,000 to $5,000), which are not subject to the same consumer protections.

    The regulator said small loan credit contracts fell from 80% of loans in the December quarter of 2022 to less than 60% of loans by the August 2023 quarter.

    It said it was concerned by this approach and reminded lenders they were still subject to the reasonable lending regime. This effectively means not lending amounts that would be unsuitable for borrowers.

    Why are payday lenders moving consumers to larger loans?

    It’s a concern that lenders change products to avoid restrictive rules. But it is not altogether surprising.

    One response from increasing restrictions on one form of credit might be that lenders decide to focus on other, less restricted, products like medium-sized loans – this is what ASIC seems to have found.

    This is problematic if those larger loans are not meeting consumers’ needs and objectives (for instance, if they only needed a smaller amount), or complying with the loan would cause substantial hardship. It’s important to remind lenders that the responsible lending obligations apply to medium size loans, and for ASIC to take enforcement action where appropriate.

    What might be a better approach?

    The ASIC report highlights the increasing complexity of the National Consumer Credit Act regime – with the standard obligations complemented by specific and unique rules for a range of credit products. These include small amount credit, standard home loans, credit cards, reverse mortgages, and Buy Now Pay Later.

    It’s worth thinking about whether a better strategy might be to go back to a simpler approach, where one set of rules applied to all consumer credit products. Regulatory exceptions and qualifications are minimised.

    If access to payday loans becomes more restrictive, borrowers are likely to turn to other products. This means ASIC should also be looking at other products that are used to provide short-term small loans. These are likely to include buy now pay later schemes and pawn broking.

    Buy now pay later products are subject to their own regulations, including responsible lending obligations. But
    pawn brokers aren’t covered by the Consumer Credit laws and are subject to little regulatory scrutiny. This is also something that should change.

    We also need to consider whether there are financial inclusion options not dependent on lenders out to make a profit from borrowers struggling with the cost of living.

    Jeannie Marie Paterson receives funding from the Australian Research Council for a project on Treating Consumers Fairly.

    Nicola Howell receives funding from funding from the Australian Research Council for a project on Treating Consumers Fairly. She is affiliated with the Consumers’ Federation of Australia, as a member of the CFA Executive.

    – ref. ASIC puts payday lenders on notice they may be breaching the law – https://theconversation.com/asic-puts-payday-lenders-on-notice-they-may-be-breaching-the-law-252375

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Why build nuclear power in place of old coal, when you could have pumped hydropower instead?

    Source: The Conversation (Au and NZ) – By Timothy Weber, Research Officer for School of Engineering, Australian National University

    Phillip Wittke, Shutterstock

    Australia’s energy policy would take a sharp turn if the Coalition wins the upcoming federal election. A Dutton government would seek to build seven nuclear power plants at the sites of old coal-fired power stations.

    The Coalition says its plan makes smart use of the existing transmission network and other infrastructure. But solar and wind power would need to be curtailed to make room in the grid for nuclear energy. This means polluting coal and gas power stations would remain active for longer, releasing an extra 1 billion to 2 billion tonnes of carbon dioxide.

    So is there another option? Yes: pumped hydro storage plants. This technology is quicker and cheaper to develop than nuclear power, and can store solar and wind rather than curtail it. It’s better suited to Australia’s electricity grid and would ultimately lead to fewer emissions. Drawing on our recent global analysis, we found the technology could be deployed near all but one of the seven sites the Coalition has earmarked for nuclear power.

    The Coalition is likely to spend anywhere from A$116 billion to $600 billion of taxpayers’ money to deliver up to 14 gigawatts of nuclear energy. Experts say the plan will not lower power prices and will take too long to build. Our findings suggest cheap storage of solar and wind, in the form of pumped hydro, is a better way forward.

    This way, we can continue to build renewable energy capacity while stabilising the grid. More than 45GW of solar and wind is already up and running, with a further 23GW being supported by the Capacity Investment Scheme until 2027. Only a handful of the pumped hydro sites we found would be needed to decarbonise the energy system, reaching the 1,046 gigawatt-hours of storage CSIRO estimates Australia needs.

    Building pumped hydro storage systems near old coal-fired power generators has some advantages, such as access to transmission lines – although more will be needed as electricity demand increases. But plenty of other suitable sites exist, too.

    Filling the gaps

    Pumped hydro is a cheap, mature technology that currently provides more than 90% of the world’s electrical energy storage.

    It involves pumping water uphill from one reservoir to another at a higher elevation for storage. Then, when power is needed, water is released to flow downhill through turbines, generating electricity on its way to the lower reservoir.

    Together with battery storage, pumped hydro solves the very real problem of keeping the grid stable and reliable when it is dominated by solar and wind power.

    By 2030, 82% of Australia’s electricity supply is expected to come from renewables, up from about 40% today.

    But solar panels only work during the day and don’t produce as much power when it’s cloudy. And wind turbines don’t generate power when it’s calm. That’s where storage systems come in. They can charge up when electricity is plentiful and then release electricity when it’s needed.

    Grid-connected batteries can fill short-term gaps (from seconds to a few hours). Pumped hydro can store electricity overnight, and longer still. These two technologies can be used together to supply electricity through winter, and other periods of calm or cloudy weather.

    Two types of pumped-storage hydropower, one doesn’t require dams on rivers.
    NREL

    Finding pumped hydro near the Coalitions’s proposed nuclear sites

    Australia has three operating pumped hydro systems: Tumut 3 in the Snowy Mountains, Wivenhoe in Queensland, and Shoalhaven in the Kangaroo Valley of New South Wales.

    Two more are under construction, including Snowy 2.0. Even after all the cost blowouts, Snowy 2.0 comes at a modest construction cost of A$34 per kilowatt-hour of energy storage, which is ten times cheaper than the cost CSIRO estimates for large, new batteries.

    We previously developed a “global atlas” to identify potential locations for pumped hydro facilities around the world.

    More recently, we created a publicly available tool to filter results based on construction cost, system size, distance from transmission lines or roads, and away from environmentally sensitive locations.

    In this new analysis, we used the tool to find pumped hydro options near the sites the Coalition has chosen for nuclear power plants.

    Mapping 300 potential pumped hydro sites

    The proposed nuclear sites are:

    • Liddell Power Station, New South Wales
    • Mount Piper Power Station, New South Wales
    • Loy Yang Power Stations, Victoria
    • Tarong Power Station, Queensland
    • Callide Power Station, Queensland
    • Northern Power Station, South Australia (small modular reactor only)
    • Muja Power Station, Western Australia (small modular reactor only).

    We used our tool to identify which of these seven sites would instead be suitable for a pumped hydro project, using the following criteria:

    • low construction cost (for a pumped hydro project)

    • located within 85km of the proposed nuclear sites.

    We included various reservoir types in our search:

    Exactly 300 sites matched our search criteria. No options emerged near the proposed nuclear site in Western Australia, but suitable sites lie further north in the mining region of the Pilbara.

    One option east of Melbourne, depicted in the image below, has a storage capacity of 500 gigawatt-hours. Compared with Snowy 2.0, this option has a much shorter tunnel, larger energy capacity, and larger height difference between the two reservoirs (increasing the potential energy stored in the water). And unlike Snowy 2.0, it is not located in a national park.

    Of course, shortlisted sites would require detailed assessment to confirm the local geology is suitable for pumped hydro, and to evaluate potential environmental and social impacts.

    More where that came from

    We restricted our search to sites near the Coalition’s proposed nuclear plants. But there are hundreds of potential pumped hydro sites along Australia’s east coast.

    Developers can use our free tool to identify the best sites.

    So far, the Australian electricity transition has mainly been driven by private investment in solar and wind power. With all this renewable energy entering the grid, there’s money to be made in storage, too.

    Large, centralised, baseload electricity generators, such as coal and nuclear plants, are becoming a thing of the past. A smarter energy policy would balance solar and wind with technologies such as pumped hydro, to secure a reliable electricity supply.

    Timothy Weber receives funding from the Australian government Department of Foreign Affairs and Trade, and the Australian Centre for Advanced Photovoltaics.

    Andrew Blakers receives funding from the Australian government Department of Foreign Affairs and Trade and other organisations.

    – ref. Why build nuclear power in place of old coal, when you could have pumped hydropower instead? – https://theconversation.com/why-build-nuclear-power-in-place-of-old-coal-when-you-could-have-pumped-hydropower-instead-252017

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Local newspapers are a lifeline in Ukraine, but USAID cuts may force many to close or become biased mouthpieces

    Source: The Conversation (Au and NZ) – By Galyna Piskorska, Associate Professor, Faculty of Journalism, Borys Grinchenko Kyiv University (Ukraine) and Honorary Principal Fellow at the Advanced Centre for Journalism, The University of Melbourne

    Three years into Russia’s full-scale war in Ukraine, Ukrainian journalists are facing enormously difficult challenges to continue their work.

    Since Russia’s invasion in 2022, 40% of Ukrainian media outlets have been forced to close down, mostly due to the Russian occupation or financial difficulties caused by the war. Many of these are in Russian-occupied eastern Ukraine.

    Ukrainian journalists and media outlets have also become targets. More than 100 media workers have been killed since the full-scale war began.

    Some, like 28-year-old journalist Viktoriya Roshchyna, were captured by Russian forces and died in brutal conditions in captivity. More than 30 media workers are still in Russian captivity.

    Others were killed by Russian missile and drone attacks, like Tetiana Kulyk, who died alongside her husband, a surgeon, after her home was hit by a drone in late February.

    For those journalists that remain, fatigue is a major issue. Many are emotionally exhausted. Some cannot cope and leave their jobs. The National Union of Journalists of Ukraine (NUJU) helps with seminars and psychological support.

    Despite the dangers, local media remains in high demand near the front lines of the war. These outlets have lost so much – advertising, subscribers and staff – but their journalists still have the passion and determination to continue their work documenting history.

    The role of local media on the front lines

    According to researchers who interviewed 43 independent local media outlets last year, the key challenges for newsrooms have not changed since the start of the war:

    • a shortage of employees (22% of respondents said this was a challenge in 2023, compared to 16% in 2022);

    • psychological stress (18% in 2023, 16% in 2022)

    • lack of funds (16% in both years).

    Often, journalists must perform different roles in their work, including being a driver, mail carrier and even a psychotherapist.

    Without working telephones or internet in areas near the front lines, print newspapers remain the only source of trusted information for many people. This includes up-to-date information on evacuation plans and humanitarian aid, as well as content not related to the war, such as public transport schedules and how to access medicines and necessary items for home repairs.

    Tetiana Velika, editor in chief of the Voice of Huliaipillia in southeastern Ukraine, was one of about 120 journalists who took part in a recent online conference organised by the National Union of Journalists of Ukraine to discuss the state of Ukraine’s media.

    She said media have remained connected with readers through both openness and authenticity. This includes having active social media networks, publishing journalists’ mobile phone numbers and allowing people to reach out anytime.

    Vasyl Myroshnyk, the editor in chief of Zorya, a newspaper in eastern Ukraine, described how he travelled 400 kilometres each week to deliver copies of his newspaper to even the most dangerous places.

    Svitlana Ovcharenko, editor of the newspaper Vpered in the city of Bakhmut, which was destroyed by Russian forces in the opening weeks of the war, said the paper has remained a lifeline for a displaced population.

    We have a unique situation — we don’t have a city. It’s virtual, it’s only on the map, it doesn’t physically exist. Not only is it destroyed, but it’s also been bombed with phosphorus bombs, and no one lives there.

    Ovcharenko, who now lives in the city of Odesa, said her newspaper’s readers are scattered all over the world. (There are 6,000 printed copies distributed each week across Ukraine.) The coverage focuses on how former Bakhmut residents have restarted their lives elsewhere, while also paying homage to the city’s past.

    Independent media is now at stake

    Funding remains a formidable challenge. Advertising revenue has dried up for many outlets, leaving international donors as the primary journalism funding source.

    Now, the Trump administration in the United States is gutting much of this funding through its dismantling of the US Agency for International Development (USAID). According to one estimate, 80% of Ukrainian media outlets received funding through USAID. As Oksana Romaniuk, director of the Institute of Mass Information, said:

    The problem is that almost everyone had grants. The question is that for some, these grants amounted to 100% of their income and they could only survive thanks to grants. These grants amounted to 40–60% for some, less for others.

    According to media researchers, without donor aid or state budget support in 2025, newspapers and magazines may decrease by a further 20% in Ukraine, while subscription circulation could drop by 25–30%.

    The heavy reliance on such funding has already led to the closure of some outlets, while others have been forced to launch public fundraising campaigns.

    Donor funding has also given Ukrainian outlets a measure of independence, allowing them to report on corruption within the Ukrainian government, for example. Many independent outlets are now vulnerable to being taken over by commercial or political entities. When these groups gain control, they can influence media coverage to benefit their own interests. This is known as “media capture”.

    Research shows how this has occurred in other post-conflict and developing countries where independent media outlets have been transformed into business entities more focused on profits and maintaining good relations with authorities than on producing quality journalism.

    This is a critical time for the future of Ukrainian media, to ensure it remains financially self-sufficient and free from the influence of both Russian propaganda and Ukrainian oligarchs. Without this funding, the preservation of Ukraine’s independent media and democracy remain under dire threat.

    Galyna Piskorska 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. Local newspapers are a lifeline in Ukraine, but USAID cuts may force many to close or become biased mouthpieces – https://theconversation.com/local-newspapers-are-a-lifeline-in-ukraine-but-usaid-cuts-may-force-many-to-close-or-become-biased-mouthpieces-250917

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Canada: New direction ensures affordable, stable electricity rates

    Source: Government of Canada regional news

    In response to the economic and trade uncertainty faced by people and businesses across British Columbia , the Province is taking action to provide stability in BC Hydro’s electricity rates during these unpredictable times, while keeping rate increases below cumulative inflation.

    “We must take urgent action to protect British Columbians from the uncertainty posed by rising costs while building a strong, robust and resilient electricity system for the benefit of B.C.’s long-term energy independence,” said Adrian Dix, Minister of Energy and Climate Solutions. “That is why we are submitting a rate stability direction to the B.C. Utilities Commission to set BC Hydro’s rate increases for the next two years. This move guarantees certainty and reaffirms our commitment to keeping electricity rates well below the North American average and cumulative inflation, while growing our clean-energy advantage.”

    BC Hydro has among the lowest electricity rates in North America. The rate stability direction to the B.C. Utilities Commission (BCUC) will help maintain that advantage by setting BC Hydro’s annual average rate increase at 3.75% for the next two years. For the average residential household, which currently pays approximately $100 a month, this equates to an additional $3.75 per month.

    BC Hydro rate changes are staying below cumulative inflation, keeping electricity costs near the lowest in North America and about half what Albertans pay. These rate changes ensure BC Hydro can continue to build the critical local and provincial renewable energy infrastructure and supply needed to bolster B.C.’s economy, while maintaining rate increases below cumulative inflation for seven consecutive years. BC Hydro’s cumulative rate increases between 2017-18 and 2026-27 will be 12.4% below cumulative inflation.

    “The rate stability direction from the Province will provide customers and growing industries with the certainty they need during these times, while ensuring our rates remain affordable,” said Chris O’Riley, president and CEO, BC Hydro. “The rate adjustment will go toward supporting critical investments in our system that will ensure we maintain our status as a leader in renewable energy, encouraging overall economic growth and job creation.”

    The rate adjustments for the upcoming two years reflect rising operating costs due to inflation, the needed Site C hydroelectric project coming into service, and the critical work required to significantly invest in B.C.’s energy supply and infrastructure to bolster B.C.’s economy and energy security.

    BC Hydro is taking a number of actions to meet the growing demand from population growth and housing construction, business and industrial development, and transportation. These actions will power more than one million new homes. This includes:

    • adding the Site C hydroelectric project, which will power 500,000 homes and boost supply by 8%;
    • adding 10 new renewable energy projects through the 2024 call for power, which will power 500,000 homes and increase supply by a further 8%; and
    • investing in energy efficiency, which is expected to result in 2,000 gigawatt hours per year of electricity savings or enough to power 200,000 homes.

    BC Hydro is also investing $36 billion through its 10-year capital plan to expand and strengthen community and regional electrical infrastructure, and to ensure power can be delivered to new homes, businesses and industries. These investments will create economic opportunities throughout the province, including approximately 10,000 jobs for skilled workers, and generate economic growth for First Nations and communities in B.C.

    In addition to the rate stability direction, government is providing support to people in British Columbia who are vulnerable or in crisis, a top priority during uncertain times. A key resource for supporting customers is BC Hydro’s Customer Crisis Fund, which offers grants for those in temporary financial crisis. Government has taken action to ensure an additional $1.9 million will be added to the fund, which is expected to help approximately 4,700 households between now and April 2026.

    For customers not eligible for the Customer Crisis Fund, BC Hydro offers equal payment plans that spread out the cost of winter bills, and flexible payment plans. Low-income conservation programs also offer income-qualified customers the opportunity to save energy and money. These programs have delivered approximately $6 million in annual electricity cost savings to customers over the past four fiscal years. BC Hydro has also expanded its rate options for residential customers, offering more billing choices and new opportunities to save money, including optional time-of-day pricing and an optional flat rate, which will be introduced on April 1, 2025.

    BC Hydro has filed the two-year rate adjustment publicly with the BCUC, along with supporting information. The rate increases will take effect April 1, 2025, and April 1, 2026.

    Through the rate stability direction and other actions, the  B.C. government is working to bring down costs for families, strengthen health care, make communities safer, help people find a home they can afford in a community they love, and grow a stronger economy that works for everyone.

    Quick Facts:

    • BC Hydro’s residential, commercial and industrial rates are the third lowest in North America (among 22 utilities surveyed in Hydro Quebec’s 2024 Rates Comparison Report).
    • Adjusting for inflation, electricity in B.C. costs the same today as it did more than 40 years ago.

    Learn More:

    For more information about BC Hydro’s electricity rates, visit: http://news.gov.bc.ca/files/BCHydroRates.pdf

    To access a multi-language page that helps British Columbians find out about tax benefits and credits, how to file, how to get free support with filing, and how to register for direct deposit to get their refund and benefits sooner, visit: gov.bc.ca/TaxBenefits

    To learn about other programs that are available to help with everyday costs, including a multi-language benefits connector to help find programs people may be eligible for, visit: gov.bc.ca/BCBenefitsConnector

    A backgrounder follows.

    MIL OSI Canada News –

  • MIL-OSI Banking: AI at work: Reasoning models and the future of business

    Source: Microsoft

    Headline: AI at work: Reasoning models and the future of business

    We are now living in a new reality—one in which AI can think and reason like humans, solving complex problems that have stumped even the most capable experts. This reality emerged just a few months ago, when OpenAI released the first of its AI “reasoning” models, which can understand and solve problems by making logical inferences and adapting to new information. More recently, DeepSeek made waves with a reasoning model that was developed more quickly and cheaply than we thought possible, and Anthropic released a hybrid reasoning model that can handle both immediate responses and those that require deeper consideration.  

    Let’s decode what happens when AI “reasons,” and what this remarkable new capability will mean for your business. 

    Understanding the breakthrough—and why it matters 
    Most current AI models rely heavily on pattern recognition to answer questions almost instantly, but reasoning AI takes a more deliberate approach. It engages in logical, multi-step analysis—a process called chain-of-thought reasoning—to break down complex problems into smaller, more manageable chunks. That lets the AI explore different paths and backtrack or pivot when it’s wrong, similar to how humans solve problems.  

    Until recently, the go-to method for improving AI model performance was feeding it increasingly massive data sets during the training stage. Reasoning models leverage a different strategy called test-time compute, which involves using more processing power and time during the actual problem-solving stage. This means the AI takes more time and uses more resources to think deeply and provide more complete, accurate answers. 

    Reasoning AI isn’t perfect: humans still have a premium on common sense, and AI struggles with tasks that require understanding context beyond logical reasoning, such as interpreting nuanced language. Still, reasoning capabilities make AI extraordinarily powerful, able to solve problems that stymie other systems. 

    Here’s one example of that power in action: Ethan Mollick, professor at the Wharton School of the University of Pennsylvania, wondered if OpenAI’s o1 reasoning model could spot a recently unearthed math error in a research paper that briefly sparked a panic about the safety of black plastic cooking utensils. He asked it to “carefully check the math in this paper,” and it quickly pinpointed the mistake.   

    As Mollick wrote, “When models are capable enough to not just process an entire academic paper, but to understand the context in which ‘checking math’ makes sense, and then actually check the results successfully, that radically changes what AIs can do.” 

    Reasoning models are racking up astonishing results on intelligence benchmarks, as Mollick points out. The GPQA Diamond benchmark tests high-level science knowledge that isn’t available online, and OpenAI o3 beat human experts with a score of 87.7%. In FrontierMath, a set of incredibly tough math problems, o3 scored 25.2%, a major improvement over previous models. And on ARC-AGI, a test designed to be doable for humans but hard for AIs, o3 scored 87.5%, besting both previous AIs and the baseline human level. 

    All this isn’t to say that AI is going to take the place of human expertise and judgment. But reasoning as a scalable, always-on resource represents a powerful new paradigm. This is a watershed moment—one that every leader and organization will need to come to terms with. 

    Decoding reasoning’s potential impact on business 
    Reasoning AI offers huge promise for business, across industries. Think of its potential for research and development. AI can now propose hypotheses and simulate outcomes on its own—thinking that’s well beyond the capabilities of standard prompt-and-response models. That advancement could cut years off traditional R&D cycles and bring breakthroughs in fields from renewable energy to pharmaceuticals. 

    More broadly, reasoning AI will upend many of our assumptions about work. Leaders should keep two things in mind: First, these models can perform cognitive labor that is equivalent to or better than humans. In other words, they can perceive, understand, reason, and execute—sometimes even create—at levels that approach or surpass human abilities. For every task your team needs to tackle, ask yourself, “Can AI do this job?” If the situation doesn’t call for uniquely human skills like judgment, nuance, originality, or emotional intelligence, the answer is now yes. We need to imagine a new division of labor for humans and AI—and new approaches to managing that labor. 

    Second, reasoning models change the economics of work. Historically, “acquiring” reasoning meant hiring humans, but that’s no longer exclusively the case. You can now rent or purchase cognitive labor on a consumption basis, similar to acquiring any other input for your business, from electricity to equipment. And that’s a very big deal. With efficient and affordable reasoning capabilities, your organization and industry will radically change. I expect that disruption to come from AI-native firms rather than incumbent companies. AI natives will have a competitive edge simply because they’ve been weaving AI into every process from the start.  

    It’s still early days for AI reasoning—and these are my initial thoughts. I’m certain that reasoning will crack open possibilities—and opportunities for business—that I haven’t even begun to imagine.  

    For more insights on AI and the future of work, subscribe to this newsletter.

    MIL OSI Global Banks –

  • MIL-OSI Canada: Prime Minister Carney meets with President of France Emmanuel Macron

    Source: Government of Canada – Prime Minister

    The Prime Minister, Mark Carney, today met with the President of France, Emmanuel Macron, during a visit to Paris to strengthen the economy and security of both of our countries.

    Prime Minister Carney and President Macron discussed their intention to build stronger economies and defence and commercial ties between Canada and France – including in the areas of responsible and safe artificial intelligence, critical minerals, and clean energy – and to defend rules-based free trade.

    The Prime Minister and the President highlighted the launch of a new bilateral partnership on intelligence and security. The partnership will focus on enhancing cybersecurity and intelligence sharing on significant threats. Key topics will include economic security, violent extremism, counter-proliferation, interference, espionage, sabotage, and threats associated with advanced technologies.

    Prime Minister Carney and President Macron reaffirmed their unwavering support for Ukraine as it continues to resist Russia’s unjustifiable war of aggression. The Prime Minister thanked the President for his leadership in organizing several important meetings regarding Ukraine over the past few weeks.

    The leaders emphasized the rich and strong relationship between Canada and France, rooted in a shared history and common language, strong ties between our cultures and our peoples, as well as shared values such as democracy, human rights, and the rule of law.

    Associated Links

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Labour is cutting its way to economic chaos

    Source: Scottish Greens

    17 Mar 2025 Economy

    Labour is making the people with the least suffer the most.

    More in Economy

    Labour is spreading cuts and misery to avoid taxing the super wealthy, says Scottish Green MSP Lorna Slater who has warned that the strategy will only make things worse.

    With the Resolution Foundation warning that the UK job market is ‘in recession territory’ it is clear that Labour’s strategy is not working.

    Scottish Greens Co-Leader Lorna Slater MSP said:

    “Labour appears to be willing to sacrifice the wellbeing of older people, disabled people and families with more than two children in order to avoid having to tax the super-rich.

    “They told us that they could be trusted with the economy, but they are failing on all of their own terms and cutting their way into a recession.

    “From cutting Winter Fuel Payments to betraying WASPI women and from keeping the cruel two child cap to lining up £6 billion worth of welfare cuts, this is a Labour government that has shown it cannot be trusted.

    “We know what happens when you copy Tory policies, you end up with the same kind of economic chaos that we saw under the last Tory government, and it will be the people with the least who are made to suffer the most. Scotland deserves so much better than this.

    “You cannot build prosperity by hiking up the cost of living for working class families and punishing pensioners. They promised change, but this isn’t the change that Scotland waited 14 years for.

    “We live in one of the wealthiest societies there has ever been, but that wealth is being hoarded by a small number of very rich people.

    “By taxing that wealth properly and forcing the super rich to finally pay their fair share, we can undo so much of the damage that has been done by the Tories and Labour and build a fairer, greener and better society.”

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Fifth Committee Reviews Revised Costs of United Nations Iraq Mission Drawdown

    Source: United Nations MIL OSI b

    Fifth Committee (Administrative and Budgetary) delegates today began reviewing the revised financial implications of the Secretary-General’s plan to draw down 510 personnel from the United Nations Assistance Mission for Iraq (UNAMI) over the course of 2025, with the bulk of reductions set for year-end.

    UNAMI’s drawdown was decided by the Security Council through the adoption of resolution 2732 (2024), which extended the Mission’s mandate for a final 19-month period until 31 December 2025.  (See Press Release SC/15714.)  According to the Secretary-General’s transition plan, 126 of the Mission’s 636 personnel would be retained to support liquidation and related activities in 2026.

    Christophe Monier, Director of the Programme Planning and Budget Division of the Office of Programme Planning, Finance and Budget, presented the Secretary-General’s report “Revised estimates relating to the programme budget for 2025 under section 3, Political affairs, and section 36, Staff assessment” (document A/79/6(Sect.3)/Add.10).

    Mr. Monier said the revised budget will allow the Mission to support its mandate’s tasks while ensuring the safe and orderly drawdown of personnel and assets.  A provision of $21.7 million has been made for separation costs, in line with the phased downsizing of posts and positions, he added.  The resources supersede the proposed financial and human resources of $103.2 million laid out in the Secretary-General’s report “Proposed programme budget for 2025, Part II Political affairs, Section 3 Political affairs, Special political missions, United Nations Assistance Mission for Iraq” (document A/79/6(Sect.3)/Add.6).

    In presenting the Advisory Committee on Administrative and Budgetary Questions (ACABQ) related report (document A/79/7/Add.48), Advisory Committee Vice-Chair Carlo Jacobucci noted that the revised estimates are up $12.3 million, compared with the $98.1 million appropriation approved for 2024, and up $24 million, compared with the General Assembly’s December 2024 authorized allotment.

    As the concentration of drawdown schedule towards the year-end, he urged the Secretariat to create a more balanced withdrawal schedule with an earlier and more gradual transition of responsibilities to the United Nations country team.  Noting that a portion of staff separation liabilities would fall payable in 2026, the Advisory Committee recommends that staff separation costs be clarified.

    Considering that the previous estimate of $9.7 million for staff separation costs for 2025 would be more appropriate, the Advisory Committee recommends a reduction of $12 million under civilian personnel costs.  Under operational costs, the Advisory Committee recommends a reduction of $2.1 million to the proposed requirements:  $1.2 million under facilities and infrastructure; $188,500 under air operations; and $681,100 under communications and information technology.

    Thanking the Organization and Member States for its financing of the Mission for the past 22 years, the representative of Iraq said the country’s situation is very different than when it was established in 2003.  “There have been many developments on the political, security, economic, social and regional levels,” he said.  “Now, our priorities are focusing more on supporting efforts in the areas of sustainable development and health services and infrastructure.”  The Iraqi Government will work with the United Nations and the Mission for the responsible closure of its operations by year’s end and supports the provision of adequate funding.

    MIL OSI United Nations News –

  • MIL-OSI USA: Klobuchar, Colleagues Raise Concerns About How Great Lakes Will Be Impacted by NOAA Firings

    US Senate News:

    Source: United States Senator Amy Klobuchar (D-Minn)

    WASHINGTON, D.C. – U.S. Senator Amy Klobuchar (D-MN) led her colleagues in pressing the National Oceanic and Atmospheric Administration (NOAA) for more information about the termination of probationary staff and the potential impact these firings will have on the Great Lakes.

    “We write to express our deep concern over the firing of probationary staff at the National Oceanic and Atmospheric Administration (NOAA) and the potential impact these firings will have on the Great Lakes,” wrote the Senators.

    “The Great Lakes are among the United States’ greatest natural treasures, strengthening our economy and attracting millions of visitors each year. The Lakes provide drinking water to over 30 million people, generate clean hydropower, and generate $3.1 trillion in gross domestic product,” the Senators continued. “National and regional NOAA programs help protect these lakes and support our constituents who call the Great Lakes home.”

    The Senators pressed Admiral Hann to detail (1) the number of people fired at NOAA during her tenure as Acting Administrator, (2) the number of people fired at each NOAA program serving the Great Lakes, (3) the services that will be terminated as a result, and (4) her plan to preserve these services.

    In addition to Klobuchar, the letter was also signed by Leader Chuck Schumer (D-NY) and Senators Dick Durbin (D-IL), Elissa Slotkin (D-MI), Tina Smith (D-MN), Tammy Baldwin (D-WI), Kirsten Gillibrand (D-NY), and Gary Peters (D-MI).

    The full text of the letter is available here and below.

    Dear Vice Admiral Nancy Hann:

    We write to express our deep concern over the firing of probationary staff at the National Oceanic and Atmospheric Administration (NOAA) and the potential impact these firings will have on the Great Lakes. We request information on these firings—including at the Great Lakes Environmental Research Laboratory (GLERL) and any other NOAA installations and programs that serve the Great Lakes area—as well as a concrete plan for re-establishing terminated public services.

    The Great Lakes are among the United States’ greatest natural treasures, strengthening our economy and attracting millions of visitors each year. The Lakes provide drinking water to over 30 million people, generate clean hydropower, and generate $3.1 trillion in gross domestic product.

    National and regional NOAA programs help protect these lakes and support our constituents who call the Great Lakes home. The National Weather Service provides our weather and climate forecasts and warnings. The National Sea Grant Program helps conserve our aquatic resources. The Marine Debris Program prevents microplastics and litter from entering the Great Lakes, protecting our wildlife, natural resources, fishing and boating economy, and nearby residents’ health. The Cooperative Institute for Great Lakes Research invests in our clean drinking water. And the Great Lakes Environmental Research Laboratory (GLERL) provides critical information for resource use and management decisions, including information on algal blooms and hypoxia, invasive species, ice cover and shipping navigability, and storm surges and coastal flooding.

    We are deeply concerned that the layoffs at NOAA will harm these critical initiatives. The staffing reductions have already required the GLERL, for example, to take an “indefinite hiatus” from its public communications, depriving the public of critical information such as what to do during a flood warning and how to stay safe in the extreme cold. When these communications go dark, the public suffers.

    Therefore, we request the following information by March 28, 2025:

    1. The number of people fired at NOAA during your tenure as Acting Administrator.
    1. The number of people fired at each NOAA program that serves the Great Lakes: 
      1. National Weather Service
      2. National Estuarine Research Reserve System
      3. NOAA National Marine Sanctuaries
      4. National Sea Grant Program
      5. NOAA Marine Debris Program
      6. Integrated Ocean Observing System (IOOS)
      7. Great Lakes Bay Watershed Education and Training (B-WET)
      8. Great Lakes Environmental Research Laboratory
      9. Great Lakes Information Network (GLIN)
      10. Cooperative Institute for Great Lakes Research (CIGLR)
      11. Cooperative Institute for Meteorological Satellite Studies (CIMSS)
      12. Midwestern Regional Climate Center (MRCC)
    1. The services that will be terminated as a result of the firings at each of the above programs.
    1. Your plan to maintain or restore these services.

    Thank you for your attention to this important matter.

    MIL OSI USA News –

  • MIL-OSI USA: CBO to Release Long-Term Budget Projections

    Source: US Congressional Budget Office

    The Congressional Budget Office will publish The Long-Term Budget Outlook: 2025 to 2055 on Thursday, March 27, at 2 p.m. EDT.

    The report is the latest in an annual series presenting CBO’s projections of what the federal budget and the economy would look like over the next 30 years if current laws generally remained unchanged.

    The long-term budget projections in the report are based on the demographic, economic, and 10-year budget projections that CBO published in January 2025. The demographic projections reflect information, laws, and policies as of November 15, 2024, when those projections were completed. The economic projections reflect those demographic projections as well as laws, policies, economic developments, and preliminary budget projections as of December 4, 2024. The published 10-year budget projections, which build on those demographic and economic projections, include the effects of legislation enacted as of January 6, 2025.

    The projections do not reflect the effects of administrative actions taken or judicial decisions made after those respective dates, including actions and decisions affecting immigration, tariffs, and other policy areas.

    Caitlin Emma is CBO’s Chief of Media Relations.

    MIL OSI USA News –

  • MIL-OSI USA: Warren, Raskin, Blumenthal, Lawmakers Push White House Chief of Staff Susie Wiles on Trump Administration Corruption

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    March 17, 2025
    Given Concerns, Warren, Blumenthal, Van Hollen Also Push for Investigations of Elon Musk’s Potential Ethics Violations and VA Secretary Doug Collins Also Serving as Acting Director of Federal Ethics Office
    “Despite President Trump’s promises to fight for working families, he has appointed a string of corporate billionaires and industry insiders, putting them in positions to enrich themselves at the expense of ordinary Americans.”
    Text of Letter to Wiles (PDF) | Text of Letters to Investigators (PDF)
    Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.), Richard Blumenthal (D-Conn.), Jeff Merkley (D-Ore.), and Chris Van Hollen (D-Md.), along with House Judiciary Committee Ranking Member Jamie Raskin (D-Md.), sent White House Chief of Staff Susie Wiles a 10-page letter sounding the alarm on the overwhelming corruption and vast conflicts of interest throughout the Trump administration. 
    This comes just days after President Donald Trump joined Elon Musk to make what appeared to be a sales pitch for Teslas on the White House lawn. 
    This letter was sent along with two additional letters from Senators Warren, Blumenthal, and Van Hollen urging 1) the Department of Justice and Department of Transportation’s Office of Inspector General to determine whether Elon Musk has broken ethics rules through his possible involvement in the Federal Aviation Administration’s work with Starlink, despite his financial interest in the work, and 2) the Government Accountability Office to determine whether Doug Collins’s competing responsibilities as both Acting Director of the Office of Government Ethics and the Secretary of Veterans Affairs is undermining the work of either OGE or the VA.
    “One month into President Trump’s second term, his new administration is already beating his earlier record of corruption,” wrote the lawmakers.
    Within the first 50 days of his second term, President Trump has:

    Appointed former lobbyists, billionaire chief executive officers (CEOs), and stockholders with a direct financial stake in their own policy work. 

    Ceded power to the world’s richest man, Elon Musk, through the Department of Government Efficiency (DOGE). 

    Maintained his network of foreign real estate ventures and refused to divest from his maze of business interests.

    Attempted to fire at least 17 Inspectors General who were working to root out corruption in federal agencies and fired the head of the Office of Special Counsel (OSC).

    Become the first president in history to fire the director of the Office of Government Ethics (OGE), the primary office responsible for mitigating conflicts of interest in the executive branch.

    At the start of his last term, he released an executive order requiring appointees to agree to an ethics pledge. Now, Trump has still not issued any such pledge — though the past three presidential administrations did so.
    “Even now, it is not too late for President Trump to reverse course and put our national interests ahead of his personal dealings,” continued the lawmakers.
    The members of Congress urged President Trump to take the following steps to not just pay lip service to “draining the swamp” and to remediate the Administration’s worst signs of corruption: 

    Reinstate the government watchdogs who President Trump purportedly fired, including all Inspectors General, the OGE Director, and the OSC Director, and commit to protecting those offices from further political interference.

    Thoroughly vet potential nominees for all conflicts of interest and refuse to appoint anyone who would enter with clear conflicts that existing recusal and divestment rules alone cannot resolve. 

    Promptly issue an ethics pledge that is at least as robust as the Biden ethics pledge or President Trump’s own pledge from 2017, and ensure robust enforcement.

    Divest from his business holdings, in this case by either liquidating the Trump Organization assets or placing them in a truly blind trust operated by an independent trustee who is instructed to divest the assets and reinvest the proceeds in other holdings so that the President does not know what the trust contains. He should also disclose his tax returns from the past three years.

    Revoke Mr. Musk’s power to profit from his efforts to manipulate the executive branch for his own benefit. Mr. Musk should also be required to promptly release his financial disclosure form so that the public can understand his potential conflicts of interest.

    “The American people deserve a presidential administration that governs exclusively in the public’s interest,” concluded the lawmakers. 
    The lawmakers requested that the White House respond regarding its intention to take action on these concerns by March 31, 2025.

    MIL OSI USA News –

  • MIL-Evening Report: Rwanda has moved people into model ‘green’ villages: is life better there?

    Source: The Conversation (Au and NZ) – By Lisa Allyn Dale, Director of the MA in Climate and Society program at the Columbia Climate School, Columbia University

    After the devastating 1994 genocide, Rwandans returning from the violence established homes and began farming where they could find land.

    Since then, the Rwandan government has aimed to bring people scattered across rural parts of the country into grouped settlements which they have called “model villages”. These are intended to provide extra support for highly vulnerable residents, such as the homeless and those who are living in “high risk zones” – areas prone to floods, drought and mudslides, and which are likely to be affected by climate change in the future.

    Rwanda has a population of 14.5 million. An estimated 62,000 rural families have been resettled into 14,815 villages, of which 253 are considered “model villages”. Some of them are considered “green”, because they use solar power and biofuels as energy sources. Rainwater harvesting, tree planting, and terraced vegetable plots are other features of the green, environmentally friendly model villages.

    We conducted a study to understand the impact of relocating rural communities from high risk zones where they face threats from a changing climate, such as erratic rainfall, drought, floods and landslides. We looked at two lake island communities who were experiencing floods. They also suffered a lack of health and education services and security problems from being too close to an unguarded border.

    We used the Rweru Model Green Village as a case study. Based on our interviews with families who were moved there, we found that relocating people can be double-edged. On the positive side, resettlement increased access to modern facilities and social services. On the downside, people found it hard to earn a living. They lacked access to natural and financial capital and had to adapt to a different climate.

    The resettlement programme overall is now understood to be part of the government of Rwanda’s approach to climate change adaptation. However, our findings suggest that this should be done with care, considering factors like community expectations and government development plans.

    Why people were moved

    The Rweru Model Green Village was set up in 2016 to house residents from two nearby islands on Lake Rweru, Sharita and Mazane. Located along the southern border with Burundi, these islands were home to generations of Rwandans. But they lived in relative isolation without access to services like education, healthcare or markets.

    We interviewed and surveyed people from 64 households in the Rweru village. At the time of our research, 1,777 people had been moved in, all from Sharita and Mazane islands.



    Read more:
    Rising risks of climate disasters mean some communities will need to move – we need a national conversation about relocation now

    Participants said fishing had been a way of life on the islands, providing them with a consistent source of protein. Beans, potatoes, cassava and sorghum grew successfully. Even relatively impoverished households said they had enough food to live on: 55% said the productivity of the land was high.

    However, 84% of respondents also described an isolated life without services. As one put it:

    we were cut off from the rest of the world.

    Many mentioned the lack of drinking water, roads and electricity as a major drawback to living on the islands. While primary school was available, older children could only get to a secondary school by a two hour boat ride. Some dropped out of school.

    Healthcare was absent, and respondents described harrowing journeys to find medical attention. As one woman said:

    When we were still there in Sharita, a woman could want to deliver a baby but getting a boat it takes a long time, a woman can even lose her life waiting.

    The boat rides were dangerous because of hippos in the lake, malaria-carrying mosquitoes, and the risk of drowning.

    Others said that people from Burundi could access the islands easily and sometimes assaulted or killed the island residents. About 76% of the people we interviewed described their lives before relocation as dangerous. Residents had been asking to be resettled for some time because of these problems.

    One of the driving forces for organising rural life into model villages is to enhance the capacity of residents to adapt to changes, including climate impacts such as the increased risks of flooding, drought or landslides. In that way, the model green village programme is also understood to have climate change adaptation elements.

    The pros and cons after resettlement

    After resettlement, most respondents described improvements in their overall quality of life. They were less exposed to floods, which they’d experienced on the islands. They had improved access to healthcare, social services and quality housing.

    Many (66%) described the housing they received as the most important advantage of their new lives:

    Above all, the nicest thing I was given was the house.

    They also described clean water (26%), markets (50%), healthcare (55%), schools (50%) and electricity (24%) as benefits of living in the new model village. It was the first time they’d been able to manage livestock, having only had chickens on the islands. Their children were benefiting from having milk.



    Read more:
    Climate change will force up to 113m people to relocate within Africa by 2050

    Some residents appreciated having a mattress for the first time; 50% indicated furniture and kitchen equipment as advantages. About 34% of respondents were pleased that they no longer needed to travel by boat.

    They also felt safer. But despite these positive outcomes, they said they were poorer and had less food. Unlike the islands, the micro-climate inland was very hot, with little rain and increasing drought.

    Most people we interviewed (55%) said their new, smaller plots of land were “infertile”, “unproductive” or “barren”. They couldn’t fish or grow enough fruit or vegetables. One person said many of the elderly people who were moved only ate one meal a day in the village “and others are starving completely”.

    Increased hunger caused children to miss school:

    Sometimes I cannot put food on the table, my son sleeps with an empty stomach and he cannot go to school the next day.

    The future of model green villages

    The Rwandan government plans to continue setting up model villages, and wants these to be sustainable for many years.

    More research is needed to determine whether living in a model village provides young people with a better quality of life. The government will also need to address the economic challenges, food insecurity and welfare needs of residents in the new villages.

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

    – ref. Rwanda has moved people into model ‘green’ villages: is life better there? – https://theconversation.com/rwanda-has-moved-people-into-model-green-villages-is-life-better-there-250975

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Stop waiting for a foreign hero: NZ’s supermarket sector needs competition from within

    Source: The Conversation (Au and NZ) – By Lisa M. Katerina Asher, Retail Academic Researcher, PhD Candidate & Sessional Academic, University of Sydney

    non c/Shutterstock

    New Zealand’s concentrated supermarket sector is back in the spotlight after Finance Minister Nicola Willis said she was open to offering “VIP treatment” to a third international player willing to create competition.

    However, New Zealanders hoping for a foreign hero to break up the current supermarket concentration will be waiting a long time.

    It could take five years or more for an international brand such as Aldi to enter New Zealand and establish a nationwide chain. It is a risky bet. So far, no foreign operator has expressed interest publicly in setting up shop here on a national scale.

    To create more competition in the supermarket sector, the New Zealand government needs go back to where the issues began: allowing multiple companies to merge until there were few alternatives for shoppers.

    Breaking up two of the major entities in the sector would be a relatively quick way to reintroduce competition and improve affordability for everyone.

    The rise in concentration

    The current state of New Zealand’s supermarket sector – dominated by Woolworths (formerly Countdown), Foodstuffs North Island and Foodstuffs South Island – is a result of successive mergers and acquisitions along two tracks.

    The first was Progressive Enterprises’ (owner of Foodtown, Countdown and Five Guys banners) purchase of Woolworths New Zealand (which also owned Big Fresh and Price Chopper) in 2001.

    Progressive Enterprises was sold to Woolworths Australia, its’ current owner, in 2005. In less than 25 years, six brands owned by multiple companies were whittled down to a single brand, Woolworths.

    The second was the concentration of the “Foodstuffs cooperatives” network. This network once included four regional cooperatives and multiple banners including Mark’n Pak and Cut Price, as well as New World, PAK’nSave and Four Square.

    The decision of the four legally separate cooperatives to include “Foodstuffs” in their company name blurred the lines between them. The companies looked similar but remained legally separate.

    As a result of mergers, these four separate companies have now become Foodstuffs North Island – franchise limited share company, operating according to “cooperative principlies” and Foodstuffs South Island, a legal cooperative.

    In a recent failed application to merge into one company, Foodstuffs North Island and Foodstuffs South Island admitted to sharing information between the two legally separate companies. They are also not meaningfully competing with each other as they operate in regions which do not overlap.

    Breaking up the current players to compete

    While the Commerce Commission declined the clearance for Foodstuffs North Island Limited and Foodstuffs South Island to merge into one single national grocery entity, more can be done to drive competition in the supermarket sector.

    The fastest option would be to break up the “Foodstuffs” companies into smaller entities, with the breakaway and re-branding of PAK’nSave across both islands.

    But to do this the government would need to update legislation to allow parliament to force divestiture, consistent with the United Kingdom and the United States.

    This would allow New Zealand to go from three supermarket companies to five or more in a short period of time.

    Reducing the power dependency of suppliers and customers on the current companies would also reduce barriers to entry for overseas brands.

    Global players will take too long

    Breaking up the local dominant supermarket players is simply faster, and more straightforward, than waiting for a foreign company to enter New Zealand. It takes time and is expensive to build scale with stores. It can also be risky, as recent history in Australia shows.

    Aldi Australia, a favourite of New Zealand consumers hoping for a global alternative, took 20 years to reach scale as a third major player in that country. Originally from Germany, Aldi entered Australia as a declining brand – Franklins – left the market.

    In 2017, another German company, Kaufland, announced ambitious plans to enter the Australian market, starting with 20 stores. It purchased its first site in 2018 and hired 200 staff. However, the company abandoned launch plans in 2020 and divested completely from the market.

    Additionally, it took US-based bulk retail store Costco three years – and NZ$100 million – to go from announcing its plans for one New Zealand store to open. The retailer has hinted at opening a second location but this has not yet happened.

    In the end, the solution to New Zealand’s concentrated supermarket sector needs to come from within. Breaking up the power held by the dominant supermarket companies will allow prices to come down more quickly than waiting for a foreign supermarket to arrive.

    The government allowed the market to become concentrated, so it can now fix it. An international brand is not the hero – local, New Zealand-owned competition is.

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

    – ref. Stop waiting for a foreign hero: NZ’s supermarket sector needs competition from within – https://theconversation.com/stop-waiting-for-a-foreign-hero-nzs-supermarket-sector-needs-competition-from-within-251910

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Governor Polis and Arnold Ventures Announce $20 Million Partnership to Boost Economic Opportunity, Strengthen Colorado’s Workforce & Expand Education

    Source: US State of Colorado

    The multi-year partnership will support data-driven investments to advance economic mobility for Coloradans

    Denver, CO. (March 17, 2025) – Today, Governor Jared Polis and philanthropy Arnold Ventures announced The Colorado Partnership for Proven Initiatives, a new multi-year $20 million philanthropic partnership to improve economic opportunities for Coloradans, starting with expanding students’ access to the support needed to thrive in the classroom and workforce, helping more Coloradans build brighter futures.

    “In Colorado, we are expanding opportunities for Coloradans by investing in what works. This exciting new partnership with Arnold Ventures builds on our nation-leading progress to significantly expand access to high-quality education, strengthen our workforce, and create more pathways to economic success for all Coloradans,” said Gov. Polis.

    Over the next four years, Arnold Ventures will match investments made by the State of Colorado dollar-for-dollar, providing up to $10 million in support for evidence-based, proven initiatives to advance the economic mobility of Coloradans.

    “In today’s climate of constrained resources, our commitment to research-backed programs isn’t just smart—it’s essential,” said Laura Arnold, founder and co-chair of Arnold Ventures. “By matching state investments with philanthropic capital, we’re ensuring every dollar maximizes its impact for students, families, and the future of our communities.”

    “We are thrilled that Colorado Mountain College and Lamar Community College will participate in this pilot,” said Dr. Angie Paccione, Executive Director for the Colorado Department of Higher Education. “These institutions are committed to enhancing student success and economic mobility, which are at the core of this project. By focusing on in-demand careers and addressing attainment gaps, we’ll address state workforce needs and provide opportunities for all learners to achieve their educational and professional goals.”

    The first phase of the partnership will focus on higher education and workforce training, supporting the launch of proven student success initiatives at two Colorado community colleges: Lamar Community College and Colorado Mountain College. With the Partnership, these colleges will launch initiatives modeled on the Accelerated Study in Associate Programs (ASAP) initiative, which was developed by the City University of New York (CUNY) and provides comprehensive academic, financial, and personal support for low-income students pursuing two-year associate degrees. Studies have found that ASAP and its replications result in higher graduation rates and higher salaries following graduation, which helps both students and taxpayers.

    “CUNY ASAP has helped more than 110,000 CUNY students and has been replicated nationwide. We are sure that Colorado’s adoption of this comprehensive support program will have a measurable impact for students at Lamar Community College and Colorado Mountain College,” said CUNY Chancellor Félix V. Matos Rodríguez. “ASAP has garnered national accolades and doubled graduation rates; independent studies have consistently demonstrated its effectiveness and shown the significant return it provides on taxpayer dollars. We applaud Colorado’s investment in this proven-successful model and thank Arnold Ventures for its ongoing support.”

    The State of Colorado and Arnold Ventures will work with the nonprofit, nonpartisan Coalition for Evidence-Based Policy to identify promising initiatives, scale proven initiatives, ensure funding sustainability, and implement these efforts. Colorado policymakers will also develop long-term strategies to allocate public resources toward initiatives that deliver proven results for local communities.

    “There’s a growing body of programs, like ASAP, that have been shown in gold-standard randomized trials to produce meaningful, sustained improvements in people’s lives,” said Coalition for Evidence-Based Policy President Jon Baron. “It’s great to see Governor Polis and Arnold Ventures using that evidence to make progress at scale on education and economic mobility for Coloradans.”

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    MIL OSI USA News –