Category: Finance

  • MIL-OSI: XAI Octagon Floating Rate & Alternative Income Trust Will Host Q4 2024 Quarterly Webinar on March 5, 2024

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 20, 2025 (GLOBE NEWSWIRE) — XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) (the “Trust”) today announced that it plans to host the Trust’s Quarterly Webinar on March 5, 2025 at 11:00 am (Eastern Time). Kevin Davis, Managing Director at XA Investments (“XAI”) will moderate the Q&A style webinar with Kimberly Flynn, President at XAI, and Lauren Law, Senior Portfolio Manager at Octagon Credit Investors.

    TO JOIN VIA WEB: Please go to the Knowledge Bank section of xainvestments.com or click here to find the online registration link.

    TO USE YOUR TELEPHONE: After joining via web, if you prefer to use your phone for audio, you must select that option and call in using a number below, based on your current location.

    Dial: (312) 626-6799 or (267) 831-0333 or (646) 558-8656 or (213) 338-8477 or (720) 928-9299
    Webinar ID: 829 2498 4014

    REPLAY: A replay of the webinar will be available in the Knowledge Bank section of xainvestments.com.

    The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in floating rate credit instruments and other structured credit investments. There can be no assurance that the Trust will achieve its investment objective.

    The Trust’s common shares are traded on the New York Stock Exchange under the symbol “XFLT,” and the Trust’s 6.50% Series 2026 Term Preferred Shares are traded on the New York Stock Exchange under the symbol “XFLTPRA.”

    About XA Investments
    XA Investments LLC (“XAI”) serves as the Trust’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in April 2016. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management and administration. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

    About XMS Capital Partners
    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.

    About Octagon Credit Investors
    Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s investment sub-adviser. Octagon is a 25+ year old, $33.4B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (collateralized loan obligation debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon’s investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon’s investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.

    XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust’s webpage at www.xainvestments.com.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

    NOT FDIC INSURED     NO BANK GUARANTEE

    Paralel Distributors, LLC – Distributor

    MAY LOSE VALUE
         

    Media Contact:

    Kimberly Flynn, President
    XA Investments LLC
    Phone: 312-374-6931
    Email: kflynn@xainvestments.com
    www.xainvestments.com

    The MIL Network

  • MIL-OSI: Diginex Limited Announces Secondary Listing on the Frankfurt Stock Exchange and Tradegate Exchange and the Engagement of German-based Kirchhoff Consult GmbH to Broaden Investor Base Across Europe

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Feb. 20, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex Limited” or the “Company”) (Nasdaq: DGNX), a Cayman Islands-based impact technology company specializing in environmental, social, and governance (ESG) issues, announced today that its shares currently traded on The Nasdaq Capital Market (“Nasdaq”), are now cross-listed on the Frankfurt Stock Exchange (Open Market) and the Tradegate Exchange under the symbol “I0Q” effective February 20, 2025. We expect this cross-listing to expand the Company’s global investor reach, and enhance liquidity and accessibility to European investors while reinforcing its presence in key international financial markets.

    In conjunction with the Frankfurt and Tradegate listings, Diginex Limited has engaged Kirchhoff Consult GmbH, a European affiliate of Lambert by LLYC (Lambert), and a leading German investor relations firm, to spearhead an aggressive European investor engagement effort. This initiative aims to expand and diversify Diginex Limited’s investor base across Europe, which the Company hopes to lead to increased liquidity and resilience in stock trading, solidifying the company’s corporate brand value in these regions, and providing greater access to European capital markets.

    “Our cross-listing on the Frankfurt Stock Exchange and the Tradegate Exchange, coupled with our strategic engagement with Kirchhoff Consult, represents a further step in Diginex Limited’s global growth strategy,” said Miles Pelham, Chairman of Diginex Limited. “Europe is a critical market for us, and we remain committed to deepening our relationships with European investors and partners. By increasing visibility and accessibility, we expect to enhance stock liquidity, strengthen brand awareness, support the growth of our European business operations, and drive long-term value creation for all shareholders.”

    The cross-listing follows Diginex Limited’s successful initial public offering (IPO) on Nasdaq, which closed on January 23, 2025. The Frankfurt Stock Exchange is the largest exchange in Germany and the third largest in Europe based on market capitalization. The Tradegate Exchange is a German Stock Exchange that specializes in the execution of private investor orders. With its shares now trading in both the U.S. and Europe, Diginex Limited believes that it is well-positioned to attract a broader range of institutional and retail investors, fostering sustainable growth and financial strength for the Company in global capital markets.

    The engagement with Kirchhoff Consult GmbH builds on the Company’s recent partnership with Lambert and its Hong Kong partner, Strategic Public Relations Group Ltd, reinforcing Diginex Limited’s strategic focus on enhancing visibility and bolstering investor engagement across key global markets.

    About Diginex Limited

    Diginex Limited is a Cayman Islands exempted company incorporated under the laws of the Cayman Islands in 2024, with subsidiaries located in Hong Kong, United Kingdom and United States of America. Diginex Limited conducts operations through its wholly owned subsidiary Diginex Solutions (HK) Limited, a Hong Kong corporation (“DSL”) and DSL is the sole owner of (i) Diginex Services Limited, a corporation formed in the United Kingdom and (ii) Diginex USA LLC, a limited liability company formed in the State of Delaware. DSL commenced operations in 2020, is headquartered in Hong Kong, and is a software company that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. DSL is an impact technology business that helps organizations to address the some of the most pressing ESG, climate and sustainability issues, utilizing blockchain, machine learning and data analysis technology to lead change and increase transparency in corporate social responsibility and climate action.

    Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software For more information, please visit the Company’s website: https://www.diginex.com/.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC.

    For investor and media inquiries, please contact:

    Diginex
    Investor Relations
    Email:ir@diginex.com

    European IR Contract
    Jens Hecht
    Phone: +49.40.609186.82
    Email: jens.hecht@kirchhoff.de

    US IR Contract
    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global

    The MIL Network

  • MIL-OSI: Intermex Launches Wire Transfers via WhatsApp, Making Money Transfers Easier Than Ever

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 20, 2025 (GLOBE NEWSWIRE) — International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading omnichannel money remittance and financial services provider, is making it easier than ever to send money by launching wire transfers through WhatsApp, the messaging app of choice for millions of Latinos. With 95% of U.S. Hispanics using WhatsApp on their smartphones, this new feature brings fast, secure, and convenient money transfers right into the app they already trust and love.

    “This launch is all about meeting our customers where they are,” said Marcelo Theodoro, Chief Digital, Product & Marketing Officer at Intermex. “By integrating money transfers into WhatsApp, we’re making sending money as easy as sending a message—secure, seamless, and available anytime.”

    With WhatsApp being the most widely used messaging platform among Latinos, Intermex is embracing conversational payments, a growing trend in fintech that simplifies transactions through familiar communication channels. This feature aligns with the company’s mission to provide real-time access to financial services, reinforcing its commitment to making remittances more convenient and accessible. By eliminating unnecessary steps and integrating transfers into an app customers already use daily, Intermex is breaking down barriers to financial inclusion.

    Beyond transactions, the WhatsApp-powered channel will serve as a direct communication line between customers and Intermex’s support teams, allowing users to track transfers, receive updates, and access customer service quickly. Whether sending money through a retail location or a digital platform, customers can now reach Intermex directly through WhatsApp for assistance, making the overall experience smoother and more efficient.

    “This service combines the trust and reliability of the Intermex brand with our powerhouse technology to bring a secure, user-friendly, and convenient experience to WhatsApp,” Theodoro added. “With 95% of U.S. Hispanics who own smartphones using WhatsApp, this integration allows us to connect with our core customers in the most natural way possible.”

    The WhatsApp wire transfer feature will initially launch in key markets, with expansion plans set to follow as part of Intermex’s broader digital strategy. By integrating with widely used messaging platforms, Intermex is meeting customers where they are, providing greater flexibility, and strengthening its position as a leader in digital-first cross-border payments.

    For more information, visit www.intermexonline.com.

    About International Money Express, Inc. (Intermex): Founded in 1994, Intermex applies proprietary technology enabling consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom, and Germany to more than 60 countries. The Company provides the digital movement of money through the Company’s website and mobile app, as well as through its network of agent retailers in the United States, Canada, Spain, Italy, the United Kingdom, and Germany, and its Company-operated stores. Transactions are fulfilled and paid through thousands of retail locations and banks around the world. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com.

    Investor Relations Contact:
    Alex Sadowski
    Investor Relations Coordinator
    ir@intermexusa.com
    Tel: 305-671-8000

    The MIL Network

  • MIL-OSI: Viper Energy, Inc. Announces Leadership Transition Plan and Additional Updates to Executive Team

    Source: GlobeNewswire (MIL-OSI)

    • Travis D. Stice to transition from role as Chief Executive Officer
    • Kaes Van’t Hof, current President, will assume Chief Executive Officer role
    • Austen Gilfillian, current Vice President, has been promoted to President
    • Trevor Stoltz has been promoted to Vice President, Business Development
    • John Phillips has been promoted to Vice President, Land

    MIDLAND, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ: VNOM) (“Viper” or the “Company”) today announced its leadership transition plan, representing the culmination of a thorough succession planning process and ensuring a seamless leadership transition that will position the Company for continued long term outperformance. Travis D. Stice will transition from his role as Chief Executive Officer, effective immediately. Kaes Van’t Hof, current President of the Company, will succeed Mr. Stice as Chief Executive Officer. Austen Gilfillian, current Vice President of Viper, will assume the role of President, also effective immediately.

    “On behalf of the Board of Directors, I would like to thank and congratulate Travis for his leadership over the last ten years at Viper. The Viper IPO in 2014 was a watershed moment for the minerals market and is a testament to Travis’ vision,” stated Steven E. West, Chairman of the Board of Directors of Viper.

    Mr. West continued “The Board looks forward to Travis’ continued contribution to the success of the Company through his position on the Board and his countless strong relationships in the mineral space in the Permian Basin. In addition, the Board remains extremely excited about Viper’s future as Kaes and Austen have worked to build out a strong, dedicated executive team.”

    “It has been an honor to represent Viper as CEO over the last ten plus years,” said Mr. Stice. “Viper is a truly unique business model that established credibility with the market in a differentiated way from the start. The momentum at Viper today is very strong, its future is bright, and I look forward to supporting the Company through my position on the Board.”

    Regarding Mr. Van’t Hof’s appointment, Mr. Stice noted, “Kaes has been a critical contributor to Viper’s success as President of the Company. The Viper Board of Directors is fully confident that Kaes, together with the support of Austen and the growing Viper management team, will continue to drive future success at Viper as he assumes the CEO role.”

    “It is an honor to move into this position at Viper. Since its IPO in 2014, Viper has been a leader and category killer in its space, a testament to the vision and successful execution of what was then a new and exciting business model. Travis’ leadership helped drive Viper’s growth to where the Company is today. I look forward to continuing to solidify our position as the leader in the public mineral and royalties space while maintaining the visible competitive advantage of the relationship with Diamondback,” stated Mr. Van’t Hof.

    Mr. Van’t Hof continued “I am also extremely excited to announce Austen’s promotion to President. Austen has proven leadership skills and has developed and implemented a business strategy that has led to significant growth and outperformance at Viper, a trend we expect to continue. The Viper management team continues to be built out as we prepare for future growth through consolidation of the highly fragmented minerals market.”

    About Viper Energy, Inc.

    Viper is a publicly traded Delaware corporation that owns and acquires mineral and royalty interests in oil and natural gas properties primarily in the Permian Basin.

    Cautionary Note Regarding Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper’s future leadership, performance, prospects, success and strategy are forward-looking statements. When used in this news release or otherwise by Viper, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Viper are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Viper believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Viper’s control. Accordingly, forward-looking statements are not guarantees of future performance and Viper’s actual outcomes could differ materially from what Viper has expressed in its forward-looking statements. Information concerning these risks and uncertainties and other factors can be found in Viper’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its reports on Forms 10-K, 10-Q and 8-K, each of which can be obtained free of charge on the SEC’s web site at http://www.sec.gov. Viper undertakes no obligation to update or revise any forward-looking statement unless required by applicable law.

    Investor Contact:
    Chip Seale
    +1 432.247.6218
    cseale@viperenergy.com

    The MIL Network

  • MIL-OSI: Diamondback Energy, Inc. Announces Leadership Transition Plan and Additional Updates to Executive Team and Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    • Travis D. Stice to step down as Chief Executive Officer, effective as of the Company’s 2025 Annual Meeting of Stockholders; will remain as Executive Chairman through the Company’s 2026 Annual Meeting of Stockholders
    • Kaes Van’t Hof, current President, will assume Chief Executive Officer role and will join the Board of Directors effective as of the Company’s 2025 Annual Meeting of Stockholders
    • Jere W. Thompson III, current Executive Vice President of Strategy and Corporate Development, has been promoted to Executive Vice President and Chief Financial Officer, effective today
    • David L. Houston to retire from the Board of Directors at the Company’s 2025 Annual Meeting of Stockholders

    MIDLAND, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced its leadership transition plan, representing the culmination of a thorough succession planning process that will position the Company for continued long term outperformance. Travis D. Stice, who has led Diamondback as Chief Executive Officer since January 2012 and joined the Board of Directors in November 2012 following the Company’s initial public offering, intends to step down as Chief Executive Officer effective as of the Company’s 2025 Annual Meeting of Stockholders. At that time, Mr. Stice will transition from Chief Executive Officer to Executive Chairman of the Board, and Kaes Van’t Hof, current President of the Company, will succeed Mr. Stice as Chief Executive Officer and will join the Board of Directors. Effective today, Jere Thompson, current Executive Vice President of Strategy and Corporate Development, will assume the role of Executive Vice President and Chief Financial Officer.

    “On behalf of the Board of Directors, I would like to thank and congratulate Travis for his leadership over the last 14 years. His hard work, dedication and commitment to Diamondback grew an unknown, small-cap oil producer in 2012 into one of the largest oil and gas companies in North America. His accomplishments during his tenure exceed anything that can be explained by words on a page and go well beyond the industry-leading performance of the stock price,” stated Melanie M. Trent, Lead Independent Director.

    Ms. Trent continued “The Board looks forward to Travis’ contribution in his new role as Executive Chairman, ensuring a seamless leadership transition and a continued, consistent voice in the boardroom.”

    “The past 14 years have been immensely rewarding, and it has been a true honor to represent the dedicated employees who have transformed Diamondback into the remarkable company it is today,” said Mr. Stice. “Transitioning into my new role as Executive Chairman will allow me to remain actively engaged with the Board of Directors and contribute to the continued strategic development of our organization.”

    Regarding Mr. Van’t Hof’s appointment, Mr. Stice noted, “Kaes has earned the opportunity to lead us into a future that is brighter than ever before. The Board of Directors unanimously and wholeheartedly support him as he steps into this pivotal role and continues to build on our legacy of success.”

    “I am incredibly honored and humbled by the vote of confidence from Travis and the Board to assume the CEO role at Diamondback. Over the last nine years, I have had a front row seat to watch and learn from one of the best to ever do it in our industry’s history. What Diamondback has built in a short period of time is very special, and nearly impossible to replicate. While we don’t spend a lot of time looking in the rear-view mirror, the playbook for the next decade of success at Diamondback will look a lot like the last decade – an acquire and exploit strategy based on best-in-class execution, low-cost operations and transparency,” stated Mr. Van’t Hof.

    Mr. Van’t Hof continued “I am also very excited to announce Jere’s promotion to CFO. He has dedicated himself to learning all facets of our business in various roles over the last few years, has a strategic financial mind, and will continue to execute on Diamondback’s differentiated capital allocation and financial strategy.”

    Diamondback also announced today that David L. Houston, who has been a member of the Board of Directors since the Company’s initial public offering and who currently serves on the Company’s Audit Committee and Safety, Sustainability and Corporate Responsibility Committee, informed the Company of his decision to retire as a director when his existing term concludes immediately after the 2025 Annual Meeting of Stockholders.

    “David has been with Diamondback since the beginning, helping us grow into the Company we are today. He has been instrumental in supporting our growth, financial strategy, and success. David’s contributions are many, and we wish him all the best in his future endeavors,” stated Mr. Stice.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Cautionary Note Regarding Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s future leadership, performance, prospects, success and strategy are forward-looking statements. When used in this news release or otherwise by Diamondback, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Diamondback are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements. Information concerning these risks and uncertainties and other factors can be found in Diamondback’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its reports on Forms 10-K, 10-Q and 8-K, each of which can be obtained free of charge on the SEC’s web site at http://www.sec.gov. Diamondback undertakes no obligation to update or revise any forward-looking statement unless required by applicable law.

    Investor Contact:
    Adam Lawlis
    +1 432.221.7467
    alawlis@diamondbackenergy.com

    The MIL Network

  • MIL-OSI: Asure Software to Announce Fourth Quarter and Full Year 2024 Financial Results on March 6, 2025

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) — Asure Software, Inc.  (“Asure” or the “Company”) (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software solutions, announced today that the Company will hold a conference call on Thursday, March 6, 2025 at 4:30 p.m. Eastern time to discuss its financial results for the fourth quarter and full year 2024. Financial results will be issued via press release prior to the call.

    Asure Chairman and CEO Pat Goepel as well as CFO John Pence will host the conference call, followed by a question-and-answer session.

    Date: Thursday, March 6, 2025
    Time: 4:30 p.m. Eastern time (3:30 p.m. Central time)
    U.S. dial-in: 877-407-9219
    International dial-in: 201-689-8852
    Confirmation: 13751651

    Please call the conference telephone number 5-10 minutes prior to the start time of the conference call. An operator will register your name and organization.

    The conference call will also be webcast on the investor relations section of Asure Software’s website here. A replay of the webcast will be available.

    About Asure Software
    Asure Software (NASDAQ: ASUR) provides cloud-based Human Capital Management (HCM) software solutions that assist organizations of all sizes in streamlining their HCM processes. Asure’s suite of HCM solutions includes HR, payroll, time and attendance, benefits administration, payroll tax management, and talent management. The company’s approach to HR compliance services incorporates AI technology to enhance scalability and efficiency while prioritizing client interactions. For more information, please visit www.asuresoftware.com.

    Investor Contact:
    Patrick McKillop
    Vice President Investor Relations
    617-335-5058
    patrick.mckillop@asuresoftware.com

    The MIL Network

  • MIL-OSI: Micron Technology to Report Fiscal Second Quarter Results on March 20, 2025

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, Feb. 20, 2025 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) announced today that it will hold its fiscal second quarter earnings conference call on Thursday, Mar. 20, 2025, at 2:30 p.m. Mountain time.

    The call will be webcast live at http://investors.micron.com/. Webcast replays of presentations can be accessed from Micron’s Investor Relations website for approximately one year after the call.

    About Micron Technology, Inc.
    We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

    © 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

    Micron Media Relations Contact
    Mark Plungy
    Micron Technology, Inc.
    +1 (408) 203-2910
    mplungy@micron.com

    Micron Investor Relations Contact
    Satya Kumar
    Micron Technology, Inc.
    +1 (408) 450-6199
    satyakumar@micron.com  

    The MIL Network

  • MIL-OSI: Sprott Announces Date for 2024 Fourth Quarter Results Webcast

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Sprott Inc. (NYSE:SII) (TSX:SII) (“Sprott”) announced today that it plans to release its 2024 fourth quarter results at 7:00 a.m. on February 26, 2025. Sprott will host an earnings webcast that morning at 10:00 a.m. to discuss the results. Sprott CEO, Whitney George, together with Sprott CFO, Kevin Hibbert and Sprott Asset Management CEO, John Ciampaglia, will host the webcast, which can be accessed as outlined below.

    PLEASE NOTE: Research analysts who cover the company should register at:
    https://register.vevent.com/register/BIe9622ad4a1434ee3beff3bfb7224f1ef

    Pre-registration is now open.

    About Sprott
    Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California. The company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII). For more information, please visit www.sprott.com.

    Investor contact information: (416) 943-4394 or ir@sprott.com.

    The MIL Network

  • MIL-OSI USA: Graham Votes To Confirm Kash Patel

    US Senate News:

    Source: United States Senator for South Carolina Lindsey Graham
    WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) today made this statement after voting to confirm Kash Patel as Director of the Federal Bureau of Investigation (FBI). Patel was confirmed by a vote of 51-49.
    “I am extremely pleased to have cast my vote to confirm Kash Patel as the new director of the FBI. Kash has been a federal defense attorney and prosecutor, and he has been deeply involved in counter terrorism practice and policy. He was also one of the key figures who discovered the Russian hoax against President Trump.
    “Kash is the right man to clean up the FBI to restore Americans’ confidence and trust that the FBI is not a political organization, it is a law enforcement organization. The men and women of the FBI will be in good hands with Kash Patel.”

    MIL OSI USA News

  • MIL-OSI USA: Welch Speaks on Kash Patel’s Willingness to Enable Trump’s Reckless Illegality Before Voting Against His Nomination: “He’s on a mission to wreck the FBI”

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. –Today, U.S. Senator Peter Welch (D-Vt.) spoke on the Senate Floor before voting against Kash Patel, President Trump’s pick to serve as the next Director of the Federal Bureau of Investigation (FBI). Senator Welch expressed his opposition to Mr. Patel and raised concerns about Mr. Patel’s involvement and actions enabling President Trump’s firing spree of career FBI agents and officials, his unwillingness to stand up against President Trump’s demands, and his perpetuation of Trump’s Big Lie about the 2020 election.  
    “Mr. Patel is not the person to lead the FBI. And my hope is that all of us should consider what Mr. Patel will do. He’s going to use the power of the FBI to go after all those in government, those in the media, and those across the country he doesn’t agree with. He cannot serve as the next director of the FBI,” said Senator Welch. 
    Watch the Senator’s full remarks below: 
    Read key excerpts from Senator Welch’s remarks here: 
    “I believe that this country and Congress is in the midst of a slow-moving but rapidly accelerating constitutional crisis. This is real, and we can ignore it or see it. It began most visibly, of course, on January 6, 2021, when two norms of this republic—the peaceful transfer of power and the renunciation of violence to affect the outcome of a vote count and certification— were breached. And where many members of the House and Senate also voted against certifying the election of the person chosen by the people in their own states. The president continues to say that the election was stolen, and he has coached his nominees to embrace the Big Lie.  
    “The first month of the Trump Administration has shown a contempt for the Constitution; an acceptance of lawlessness that is dangerous to the future of our republic. President Trump’s election denialism was only an early sign of his disregard for the norms and requirements of the Constitution. Now, empowered in a second term by a Congress and a Judiciary which refused to assert their independence, Mr. Trump has enacted executive order after executive order to dismantle our institutions. He doesn’t have the authority to do what he’s doing.” 
    ■■■
    “It is my view that this administration is showing maximum contempt for core constitutional values, including, most importantly, the separation of powers. This is not about what the president’s agenda is. This is about his disregard about the limits that apply to each branch of government. And we have a dilemma. There are many in Congress that are fully in support of President Trump’s policies. That’s his right to pursue them, any member’s right to support them.  
    “But it has to be that we accept our unique responsibility—each of the 100 U.S. Senators—that we have to guarantee that in pursuit of those policies, it is done within constitutional boundaries. That is the glue that has held this country together through thick and thin for nearly 250 years. You know, this is not just talk about civic aspiration. It’s a recognition that the separation of powers, that the system of checks and balances—we’re custodians of that, each of us here—that the concept of the executive’s ambition should be matched with the ambition of the legislature. That’s what’s held us together through the turmoil of our own history.” 
    ■■■
    “I’m voting against Mr. Patel, primarily, but not exclusively, because he’s clearly an instrument in [Trump’s] effort to continue eroding the precepts of the Constitution on separation of powers. And I urge all my fellow Senators, Republican and Democrat, to embrace the responsibility we have to assert our responsibility and authority as a coequal branch…   
    “I’m regarding what President Trump has been doing in his first month in office as an illegal rampage—it’s a rampage of illegality. He’s showing a contempt for Congress and a contempt for the United States Judiciary. Mr. Patel has signed onto that agenda. He isn’t just someone who will be forced to participate in the president’s campaign of retribution, he’s an active participant. He’s got his ‘enemies list.’ We know this because his own words said what the FBI—’what was the FBI doing planning January 6 for a year?’ No basis for that, other than to set up the attack on the good men and women of the FBI.”   
    ■■■
    This morning, Senator Welch joined Senate Judiciary Democrats outside of the FBI Headquarters building in Washington, D.C. to call on their Republican colleagues to block the nomination of Mr. Patel on the Senate Floor. 
    Senator Welch has expressed reservations about Mr. Patel’s nomination in the Senate Judiciary Committee. During Mr. Patel’s confirmation hearing, Senator Welch grilled the nominee about his refusal to acknowledge that President Biden won the 2020 Presidential Election and stressed the importance of combatting any attempt to weaponize the Justice Department and the FBI under the Trump Administration. Last week, Senator Welch reacted to reports that Mr. Patel has been personally involved in the Trump Administration’s ongoing efforts to target and fire career FBI agents and officials. Under oath, Mr. Patel told Senator Welch he had no recollection of the purge at the FBI.  

    MIL OSI USA News

  • MIL-OSI USA: Durbin: Kash Patel’s Record Shows He Is A Dangerous, Inexperienced, & Dishonest Trump Loyalist Who Is Not Qualified To Serve As Next FBI Director

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    February 20, 2025

    In a speech on the Senate floor shortly before the vote on his nomination, Durbin summarizes Kash Patel’s disqualifying behavior

    WASHINGTON – In a speech on the Senate floor, U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, delivered his closing argument against the nomination of Kash Patel to serve as the next Director of the Federal Bureau of Investigation (FBI).  In his remarks delivered shortly before the vote on Patel’s nomination, Durbin underscored Patel’s extremism, his blind loyalty to President Trump, his dangerous support of January 6 insurrectionists, and his history of peddling lies about the federal government.

    “If Senate Republicans confirm Mr. Patel, I believe they will come to regret this vote, probably sooner rather than later.  I, for one, am convinced that Mr. Patel has neither the experience, the judgment, nor the temperament to lead this… criminal investigative agency [FBI],” Durbin began.  “Let me be clear.  This is not a partisan issue.  During my time in the Senate, I have voted for four FBI Director nominations before this one.  Each one was a Republican, and I voted for them, nevertheless.”

    “I oppose Mr. Patel because he is dangerously, politically extreme.  He has repeatedly expressed his intention to use our nation’s most important law enforcement agency to retaliate against his political enemies,” Durbin said.

    Durbin then began to lay out his justification for opposing Patel’s nomination and warned his Republican colleagues about the potential consequences of allowing an unqualified extremist to lead the nation’s top law enforcement agency.  Durbin first pointed to the credible whistleblower allegations that detailed Patel’s direct involvement in the ongoing purge of senior law enforcement officials at the FBI. 

    “The Director is the only political appointment at the FBI. Congress took steps to ensure that this position remains as apolitical as possible by providing for a single term of 10 years for a director and subjecting the appointment to the advice and consent of the Senate… But as we have seen for weeks now, the Trump Administration’s purge of the FBI is a political exercise that has spread to career officials,” Durbin said.  “This purge has dramatically weakened the FBI’s ability to combat national security threats and has made Americans less safe.  Senior leaders with collectively hundreds of years of experience have been forced out, creating a leadership vacuum.”

    Thousands of FBI agents now fear for their jobs because they were assigned to work on cases related to the January 6 insurrection or President Trump’s long list of legal infractions.  Whistleblowers have come forward with evidence that Patel, as a private citizen, called for these agents to be fired—which Patel denied vehemently despite being under oath during his nomination hearing.  Further, these career agents now fear for their own and their families’ safety as January 6 insurrections continue to make credible, serious, and public threats against them.

    “I have heard directly from FBI agents who now fear for their safety and the safety of their families. To understand why, let me tell you about a January 6 rioter named Edward Kelley.  Mr. Kelley was convicted of assaulting law enforcement during the attack on the U.S. Capitol… and he was given a full and unconditional pardon by Donald Trump.  But Mr. Kelley has also been convicted in his home state of Tennessee of conspiracy to murder the FBI agents who investigated his role in the January 6 attack.  Now he is arguing that President Trump’s blanket pardon should cover his attempt to kill FBI agents,” Durbin said.

    “When asked about the possible firings of career FBI officials at his confirmation hearing, Mr. Patel, under oath, said, ‘I don’t know what’s going on right now’ at the FBI.  That’s not true.  Thanks to multiple brave whistleblowers, we now know that Mr. Patel likely committed perjury in making that statement,” Durbin said.  “Even before being confirmed as the FBI Director, Mr. Patel is already directing the ongoing purge of honorable career public servants despite his status as a private citizen.”

    Durbin offered several more examples of Patel’s consistent dishonesty, including the string of lies his told during his own confirmation hearing in the Senate Judiciary Committee.

    “At his hearing, Mr. Patel implausibly told me that he could not recall Stew Peters, a man who has been identified as an antisemitic Holocaust denier… This is simply not true, considering that Mr. Patel appeared on Mr. Peters’s podcast eight times.  Eight times, and he couldn’t recall the man’s name.  And, Mr. Peters has since revealed that he and Mr. Patel directly communicate via their personal cell phones ‘constantly,’” Durbin said.

    As Durbin noted in his remarks, Patel continually offered unequivocal support to insurrectionists, producing a recording of January 6 rioters singing in order to raise money.  Under oath at his nomination hearing, Patel testified that he was not involved in the project despite being quoted saying, “We got this idea to record the January 6 prisoners who recite the national anthem every night from the D.C. prison… Then we took that to studio… So we mastered and digitized that.”

    “Mr. Patel also claimed he ‘didn’t have anything to do with’ the recording of the so-called January 6 Prison Choir, which includes at least six rioters who violently assaulted police officers,” Durbin said.  “Mr. Patel has called these violent January 6 rioters ‘political prisoners.’  That includes Guy Reffitt, who was sentenced to 87 months in prison for his role in the January 6 assault.”

    “Mr. Reffitt brought a gun to the Capitol on January 6…  Mr. Reffitt’s 19-year-old son, Jackson, turned him in to law enforcement after the attack, despite Reffitt’s threats to shoot Jackson and his sister,” Durbin said.  “Mr. Reffitt received a full and unconditional pardon from President Trump.  Guess where he was on January 30 of this year?  Back at the Capitol complex, at Mr. Patel’s confirmation hearing.”

    Durbin then pointed to those who have warned against the nomination of Patel to serve as FBI director, including many of President Trump’s former appointees.

    “Consider who is warning us about Mr. Patel: former Trump officials who know him, like Attorney General Barr, CIA Director Haspel, Defense Secretary Mark Esper, and National Security Advisor John Bolton… All Republican appointees. Mr. Patel has left a long trail of grievances, lashing out at anyone who is not completely aligned with him. He calls Democrats ‘vindictive, evil, [and] vicious,’ and repeatedly attacks Republican Senators who don’t toe the MAGA line,” Durbin said. 

    “I have read Mr. Patel’s book, Government Gangsters.  It includes an enemies list of 60 names, ‘members of the deep state’ in the words of Kash Patel, which includes distinguished public servants from both political parties.  What do they all have in common?  From Attorneys General Bill Barr and Merrick Garland to former FBI Directors Bob Mueller and Chris Wray, they all have had the misfortune of crossing paths with the vindictive Patel,” Durbin said.

    Durbin underscored his final point, reiterating that Patel aims to dismantle the FBI from the inside out. 

    “Mr. Patel claims he respects law enforcement, but his words and actions demonstrate his disdain for the FBI.  He has said that on day one, he plans to ‘shut down’ the FBI headquarters.  And he has falsely claimed that the FBI ‘was planning January 6 for a year,’ beforehand.  There is no truth to that statement,” Durbin said.

    Durbin concluded by emphasizing that Patel will serve as a dangerous, influenceable lackey for President Trump and tarnish the reputation of an independent FBI.

    “Mr. Patel’s record demonstrates that he is dangerous, inexperienced, and dishonest.   He should not and cannot serve as an effective FBI Director.  Mr. Patel has been crystal clear that he plans on using the FBI’s vast surveillance and investigative authority to ‘come after’ the President’s enemies,” Durbin said.

    “It is shocking that my Republican colleagues are willing to support Mr. Patel, despite the serious threat he poses to our national security.  I’m sorry to say that I believe they will quickly come to regret this vote,” Durbin concluded.

    To view Durbin’s questions to Patel in his confirmation hearing click here and here.

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

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

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

    -30-

    MIL OSI USA News

  • MIL-OSI USA: In Memoriam: Jeff Dozier [1944–2024]

    Source: NASA

    Jeff Dozier, an environmental scientist, snow hydrologist, researcher, academic – and former Earth Observing System Project Scientist – died on November 17, 2024. Jeff’s research focused on snow hydrology and biogeochemistry in mountain environments and addressed the role of stored and melting snow in the hydrologic cycle as well as the economic and social impact on water resources. In these efforts, he embraced remote sensing with satellites to measure snow properties and energy balance. He was a Project Scientist with the Earth Observing System (EOS) Data and Information System, contributing to the design and management of very large information systems that would impact spatial modeling and environmental informatics.
    Jeff served as the second EOS Project Scientist from 1990–1992. During that time, he worked with the NASA science community to – in his own words – “accomplish the goals of EOS, the most important of which is to develop the capability to predict or assess plausible environmental changes – both natural and human-induced – that will occur in the future. Meeting this challenge for the next decade to century requires the integration of knowledge from the traditional disciplines and information from many different sources into a coherent view of the Earth system. EOS is the largest project in the history of NASA and arguably the most important national and international scientific mission of the next two decades.”
    Jeff’s work alongside Michael Matson, was featured in a 2019 NASA Earth Science news article: “NASA Tracks Wildfires From Above to Aid Firefighters Below.” While working at NOAA’s National Environmental Satellite, Data, and Information Service building in Camp Springs, MD, the pair detected methane fires in the Persian Gulf using the Advanced Very High Resolution Radiometer (AVHRR) instrument on the NOAA-6 satellite – marking the first time that such a small fire had been seen from space. Jeff went on to develop a mathematical method to distinguish small fires from other sources of heat, which become the foundation for nearly all subsequent satellite fire-detection algorithms. 
    At the time of his death, Jeff was Principal Investigator of a NASA-funded project with the objective of testing whether data from the Earth Surface Mineral Dust Source Investigation (EMIT) mission could be used to help refine the estimate for the snowpack melting rate. In the 2024 Earth Science news article, “NASA’s EMIT Will Explore Diverse Science Questions on Extended Mission,” Jeff indicated that EMIT’s ability to ‘see’ well into the infrared (IR) spectrum of light is key to his group’s efforts because ice is “pretty absorptive at near-IR and shortwave-IR wavelengths.” The results from this research will help inform water management decisions in states, such as California, where meltwater makes up the majority of the agricultural water supply.
    Jeff earned a Bachelor’s of Science degree from California State University, Hayward (now California State University, East Bay) and a Master’s of Science degree and Ph.D. from the University of Michigan. He spent his career teaching at the University of California, Santa Barbara (UCSB), where he was named the founding Dean of the Bren School of Environmental Science and Management at UCSB in 1994. As the Dean, he recruited renowned faculty and developed one of the top environmental programs in the country. After his role as Dean, Jeff returned as a professor at Bren, educating the next generation of Earth scientists.

    MIL OSI USA News

  • MIL-OSI USA: In Memoriam: Pierre Morel [1933–2024]

    Source: NASA

    Pierre Morel, the first director of the World Climate Research Programme (WCRP) and founding member of WCRP’s Global Energy and Water Exchanges (GEWEX) Core project, died on December 10, 2024.
    Pierre began his research as a theoretical physicist. His doctoral thesis examined the existence and properties of a condensed superfluid state of liquid Helium 3 at very low temperature. He lectured on basic physics, geophysical fluid dynamics, and climate science. As his career progressed, he focused his research on studying the circulation of the atmosphere. He was devoted to the development of numerical modelling of atmospheric flow that laid the groundwork for the study of climatology.
    Pierre’s work played an integral role in the development of tools used to study the atmosphere, many of which are still active today. Examples include Project Éole – an experimental wind energy plant conceived in the 1980s and created in Quebec, Canada that closed down in 1993; the ARGOS satellite, a collaboration between the Centre National d’Études Spatiale (CNES) [French Space Agency], National Oceanic and Atmospheric Administration (NOAA), and NASA, to collect and relay meteorological and oceanographic data around the world that launched in 1978; the Search and Rescue Satellite Aided Tracking (SARSAT) system, which was developed by the U.S. – specifically NOAA, NASA, and the U.S. Coast Guard and Air Force – Canada, and France, with the first satellite launch in 1982; and the European Organization for the Exploitation of Meteorological Satellites’ METEOSAT series of geostationary satellites, which launched in 1977 and remain active today. The launch of Meteosat–12 in 2022 was the first METEOSAT Third Generation (MTG) launch.
    Early in his career, Pierre was the director of the French Laboratoire de Météorologie Dynamique (LMD) before he became the director of the Centre National d’Études Spatiales (CNES). In 1980 he became the first chairman of the WCRP, where he steered a broad interdisciplinary research program in global climate and Earth system science that involved the participation of atmospheric, oceanic, hydrological, and polar scientists worldwide. Pierre was later in charge of planetary programs at NASA and was involved in discussions about the future of NASA’s Earth Observing System (EOS) in the mid-to-late 1990s. As an example, the Earth Observer article, “Minutes Of The Fourteenth Earth Science Enterprise/Earth Observing System (ESE/EOS) Investigators Working Group Meeting,” includes a summary of a presentation Pierre gave that focused on flight mission planning for the EOS “second series,” which was NASA’s plan at the time although ultimately not pursued, with the “first series” (i.e., Terra, Aqua, Aura) enduring much longer than anticipated.
    Pierre was the recipient of the 2008 Alfred Wegener Medal & Honorary Membership for his outstanding contributions to geophysical fluid dynamics, his leadership in the development of climate research, and the applications of space observation to meteorology and the Earth system science.

    MIL OSI USA News

  • MIL-OSI USA: Summary of the Joint NASA LCLUC–SARI Synthesis Meeting

    Source: NASA

    Introduction
    The NASA Land-Cover and Land-Use Change (LCLUC) is an interdisciplinary scientific program within NASA’s Earth Science program that aims to develop the capability for periodic global inventories of land use and land cover from space. The program’s goal is to develop the mapping, monitoring and modeling capabilities necessary to simulate the processes taking place and evaluate the consequences of observed and predicted changes. The South/Southeast Asia Research Initiative (SARI) has a similar goal for South/Southeast Asia, as it seeks to develop innovative regional research, education, and capacity building programs involving state-of-the-art remote sensing, natural sciences, engineering, and social sciences to enrich land use/cover change (LUCC) science in South/Southeast Asia. Thus it makes sense for these two entities to periodically meet jointly to discuss their endeavors.
    The latest of these joint meetings took place January 1–February 2, 2024, in Hanoi, Vietnam. A total of 85 participants attended the three-day, in-person meeting—see Photo.  A total of 85 participants attended the three-day, in-person meeting. The attendees represented multiple international institutions, including NASA (Headquarters and Centers), the University of Maryland, College Park (UMD), other American academic institutions, the Vietnam National Space Center (VNSC, the event host), the Vietnam National University’s University of Engineering and Technology, and Ho Chi Minh University of Technology, the Japanese National Institute of Environmental Studies (NIES), Center for Environmental Sciences, and the University of Tokyo. In addition, several international programs participated, including GEO Global Agricultural Monitoring (GEOGLAM), the System for Analysis, Research and Training (START), Global Observation of Forest and Land-use Dynamics (GOFC–GOLD), and NASA Harvest.

    Meeting Overview
    The purpose of the 2024 NASA LCLUC–SARI Synthesis meeting was to discuss LUCC issues – with a particular focus on their impact on Southeast Asian countries. Presenters highlighted ongoing projects aimed to advance our understanding of the spatial extent, intensity, social consequences, and impacts on the environment in South/Southeast Asian countries. While presenters reported on specific science results, they also were intentional to review and synthesize work from other related projects going on in Southeast Asia. 
    Meeting Goal
    The meeting’s overarching goal was to create a comprehensive and holistic understanding of various LUCC issues by examining them from multiple angles, including: collating information; employing interdisciplinary approaches; integrating research; identifying key insights; and enhancing regional collaborations. The meeting sought to bring the investigators together to bridge gaps, promote collaborations, and advance knowledge regarding LUCC issues in the region. The meeting format also provided ample time between sessions for networking to promote coordination and collaboration among scientists and teams. 
    Meeting and Summary Format
    The meeting consisted of seven sessions that focused on various LUCC issues. The summary report that follows is organized by day and then by session. All presentations in Session I and II are summarized (i.e., with all speakers, affiliations, and appropriate titles identified). The keynote presentation(s) from Sessions III–VI are summarized similarly. The technical presentations in each of these sessions are presented as narrative summaries. Session VII consisted of topical discussions to close out the meeting and summaries of these discussions are included herein. Sessions III–VI also included panel discussions, but to keep the article length more manageable, summaries of these discussions have been omitted. Readers interested in learning more about the panel discussions or viewing any of these presentations in full can access the information on the Joint LCLUC–SARI Synthesis meeting website.
    DAY ONE
    The first day of the meeting included welcoming remarks from the U.S. Ambassador to Vietnam (Session I), program executives of LCLUC and SARI,  as well as from national space agencies in South and Southeast Asia (Session II), and other LCLUC-thematic/overview presentations (Session III).
    Session 1: Welcoming Remarks
    Garik Gutman [NASA Headquarters—LCLUC Program Manager], Vu Tuan [VNSC’s Vietnam Academy of Science and Technology (VAST)—Vice Director General], Chris Justice [University of Maryland, College Park (UMD)—LCLUC Program Scientist], Matsunaga Tsuneo [National Institute of Environmental Studies (NIES), Japan], and Krishna Vadrevu [NASA’s Marshall Space Flight Center—SARI Lead] delivered opening remarks that highlighted collaborations across air pollution, agriculture, forestry, urban development, and other LUCC research areas. While each of the speakers covered different topics, they emphasized common themes, including advancing new science algorithms, co-developing products, and fostering applications through capacity building and training.
    After the opening remarks, special guest Marc Knapper [U.S. Ambassador to Vietnam] gave a presentation in which he emphasized the value of collaborative research between U.S. and Vietnamese scientists to address environmental challenges – especially climate change and LUCC issues. He expressed appreciation to the meeting organizers for promoting these collaborations and highlighted the joint initiatives between NASA and the U.S. Agency for International Development (USAID) to monitor environmental health and climate change, develop policies to reduce emissions, and support adaptation in agriculture. The U.S.–Vietnam Comprehensive Strategic Partnership emphasizes the commitment to address climate challenges and advance bilateral research. He concluded by encouraging active participation from all attendees and stressed the need for ongoing international collaboration to develop effective LUCC policies.
    Session-II: Programmatic and Space Agency Presentations
    NOTE: Other than Ambassador Knapper, the presenters in Session I gave welcoming remarks and programmatic and/or space agency presentations in Session II,.
    Garik Gutman began the second session by presenting an overview of the LCLUC program, which aims to enhance understanding of LUCC dynamics and environmental implications by integrating diverse data sources (i.e., satellite remote sensing) with socioeconomic and ecological datasets for a comprehensive view of land-use change drivers and consequences. Over the past 25 years, LCLUC has funded over 325 projects involving more than 800 researchers, resulting in over 1500 publications. The program’s focus balances project distribution that spans detection and monitoring, and impacts and consequences, including drivers, modeling, and synthesis. Gutman highlighted examples of population growth and urban expansion in Southeast Asia, resulting in environmental and socio-economic impacts. Urbanization accelerates deforestation, shifts farming practices to higher-value crops, and contributes to the loss of wetlands. This transformation alters the carbon cycle, degrades air quality, and increases flooding risks due to reduced rainwater absorption. Multi-source remote sensing data and social dimensions are essential in addressing LUCC issues, and the program aims to foster international collaborations and capacity building in land-change science through partnerships and training initiatives. (To learn more about the recent activities of the LCLUC Science Team, see Summary of the 2024 Land Cover Land Use Change Science Team Meeting.)
    Krishna Vadrevu explained how SARI connects regional and national projects with researchers from the U.S. and local institutions to advance LUCC mapping, monitoring, and impact assessments through shared methodologies and data. The initiative has spurred extensive activities, including meetings, training sessions, publications, collaborations, and fieldwork. To date, the LCLUC program has funded 35 SARI projects and helped build collaborations with space agencies, universities, and decision-makers worldwide. SARI Principal Investigators have documented notable land-cover and land-use transformations, observing shifts in land conversion practices across Asia. For example, the transition from traditional slash-and-burn practices for subsistence agriculture to industrial oil palm and rubber plantations in Southeast Asia. Rapid urbanization has also reshaped several South and Southeast Asian regions, expanding both horizontally in rural areas and vertically in urban centers. The current SARI solicitation funds three projects across Asia, integrating the latest remote sensing data and methods to map, monitor, and assess LUCC drivers and impacts to support policy-making.
    Vu Tuan provided a comprehensive overview of Vietnam’s advances in satellite technology and Earth observation capabilities, particularly through the LOTUSat-1 satellite (name derived from the “Lotus” flower), which is equipped with an advanced X-band Synthetic Aperture Radar (SAR) sensor capable of providing high-resolution imagery [ranging from 1–16 m (3–52 ft)]. This satellite is integral to Vietnam’s efforts to enhance disaster management and climate change mitigation, as well as to support a range of applications in topography, agriculture, forestry, and water management, as well as in oceanography and environmental monitoring. The VNSC’s efforts are part of a broader strategy to build national expertise and self-reliance in satellite technology, such as developing a range of small satellites (e.g., NanoDragon, PicoDragon, and MicroDragon) that progress in size and capability. Alongside satellite development, the VNSC has established key infrastructure, facilities, and capacity building in Hanoi, Nha Trang, and Ho Chi Minh City to support satellite assembly, integration, testing, and operation. Tuan showcased the application of remotely sensed LUCC data to map and monitor urban expansion in Ha Long city from 2000–2023 and the policies needed to manage these changes sustainably – see Figure 1.

    Tsuneo Matsunaga provided a detailed overview of Japan’s Greenhouse Gases Observing Satellite (GOSAT) series of satellites, data from which provide valuable insights into global greenhouse gas (GHG) trends and support international climate agreements, including the Paris Agreement.
    Matsunaga reviewed the first two satellites in the series: GOSAT and GOSAT-2, then previewed the next satellite in the series: GOSAT-GW, which is scheduled to launch in 2025. GOSAT-GW will fly the Total Anthropogenic and Natural Emissions Mapping Observatory–3 (TANSO-3) – an improved version of TANSO-2, which flies on GOSAT-2. TANSO-3 includes a Fourier Transform Spectrometer (FTS-3) that has improved spatial resolution [10.5 km (6.5 mi)] over TANSO-FTS-2 and precision that matches or exceeds that of its predecessor. TANSO-FTS-3 will allow estimates with precision better than 1 ppm for carbon dioxide (CO2) and 10 ppb for methane (CH4), as well as enabling nitrogen dioxide (NO2) measurements. GOSAT–GW will also fly the Advanced Microwave Scanning Radiometer (AMSR3) that will monitor water cycle components (e.g., precipitation, soil moisture) and ocean surface winds. AMSR3 builds on the heritage of three previous AMSR instruments that have flown on NASA and Japan Aerospace Exploration Agency (JAXA) missions.
    Matsunaga also highlighted the importance of ground-based validation networks, such as the Total Carbon Column Observing Network, COllaborative Carbon Column Observing Network, and the Pandora Global Network, to ensure satellite data accuracy.
    Son Nghiem [NASA/Jet Propulsion Laboratory (JPL)] addressed dynamic LUCC in Cambodia, Laos, Thailand, Vietnam, and Malaysia. The synthesis study examined the factors that evolve along the rural–urban continuum (RUC). Nghiem showcased this effort using Synthetic Aperture Radar (SAR) data from the Copernicus Sentinel-1 mission to map a typical RUC in Bac Lieu, Vietnam – see Figure 2.

    Nghiem described the study, which examined the role of rapid urbanization, agricultural conversion, climate change, and environment–human feedback processes in causing non-stationary and unpredictable impacts. This work illustrates how traditional trend analysis is insufficient for future planning. The study also examined whether slower or more gradual changes could inform policy development. To test these hypotheses, his research will integrate high-resolution radar and hyperspectral data with socioeconomic analyses. The study highlights the need for policies that are flexible and responsive to the unique challenges of different areas, particularly in “hot-spot” regions experiencing rapid changes.
    Peilei Fan [Tufts University] presented a study that synthesizes the complex patterns of LUCC, identifying both the spatial and temporal dynamics that characterize transitions in urban systems. The study explores key drivers, including economic development, population growth, urbanization, agricultural expansion, and policy shifts. She emphasized the importance of understanding these drivers for sustainable land management and urban planning. For example, the Yangon region of Myanmar has undergone rapid urbanization – see Figure 3. Her work reveals the need for integrated approaches that consider both urban and rural perspectives to manage land resources effectively and mitigate negative environmental and social impacts. Through a combination of case studies, statistical analysis, and policy review, Fan and her team aim to provide a nuanced understanding of the interactions between human activities and environmental changes occurring in the rapidly transforming landscapes of Southeast Asia.

    Session III: Land Cover/Land Use Change Studies
    Tanapat Tanaratkaittikul [Geo-Informatics and Space Technology Development Agency (GISTDA), Thailand] highlighted GISTDA activities, which play a crucial role in advancing Thailand’s technological capabilities and addressing both national and global challenges, including Thailand Earth Observation System (THEOS) and its successors: THEOS-2 and THEOS-2A. THEOS-1, which launched in 2008, provides 2-m (6-ft) panchromatic and 15-m (45-ft) multispectral resolution with a 26-day revisit cycle, which can be reduced to 3 days with off-nadir pointing. Launched in 2023, THEOS-2 includes two satellites – THEOS-2A [a very high-resolution satellite with 0.5-m (1.5-ft) panchromatic and 2-m (6-ft) multispectral imagery] and THEOS-2B [a high-resolution satellite with 4-m (12-ft) multispectral resolution] – with a five-day revisit cycle. GISTDA also develops geospatial applications for drought assessment, flood prediction, and carbon credit calculations to support government decision-making and climate initiatives. GISTDA partners with international collaborators on regional projects, such as the Lancang-Mekong Cooperation Special Fund Project.
    Eric Vermote [NASA’s Goddard Space Flight Center] presented a keynote that focused on atmospheric correction of land remote sensing data and related algorithm updates. He highlighted the necessity of correcting surface imaging for atmospheric effects, such as molecular scattering, aerosol scattering, and gaseous absorption, which can significantly distort the satellite spectral signals and lead to potential errors in applications, such as land cover mapping, vegetation monitoring, and climate change studies.
    Vermote explained that the surface reflectance algorithm uses precise vector radiative transfer modeling to improve accuracy by incorporating atmospheric parameter inversion. It also adjusts for various atmospheric conditions and aerosol types – enhancing corrections across regions and seasons. He explained that SkyCam – a network of ground-based cameras – provides real-time assessments of cloud cover that can be used to validate cloud masks, while the Cloud and Aerosol Measurement System (CAMSIS) offers additional ground validation by measuring atmospheric conditions. He said that together, SkyCam and CAMSIS improve satellite-derived cloud masks, supporting more accurate climate models and environmental monitoring. Vermote’s work highlights the ongoing advancement of atmospheric correction methods in remote sensing.
    Other presentations in this session included one in which the speaker described how Yangon, the capital city in Myanmar, is undergoing rapid urbanization and industrial growth. From 1990–2020, the urban area expanded by over 225% – largely at the expense of agricultural and green lands. Twenty-nine industrial zones cover about 10.92% of the city, which have attracted significant foreign direct investment, particularly in labor-intensive sectors. This growth has led to challenges with land confiscations, inadequate infrastructure, and environmental issues (e.g., air pollution). Additionally, rural migration for employment has resulted in informal settlements, emphasizing the need for comprehensive urban planning that balances economic development with social equity and sustainability.
    Another presentation highlighted varying LUCC trends across Vietnam. In the Northern and Central Coastal Uplands, for example, swidden systems are shifting toward permanent tree crops, such as rubber and coffee. Meanwhile, the Red River Delta is seeing urban densification and consolidation of farmland – transitioning from rice to mixed farming with increased fruit and flower production. Similarly, the Central Coastal Lowlands and Southeastern regions are experiencing urban growth and a shift from coastal agriculture – in this case, to shrimp farming – leading to mangrove loss. The Central Highlands is moving from swidden to tree crops, particularly fruit trees, while the Mekong River Delta is increasing rice cropping and aquaculture. These changes contribute to urbanization, altered farming practices, and biodiversity loss. Advanced algorithms (e.g., the Time-Feature Convolutional Neural Network model) are being used to effectively map these varied LUCC changes in Vietnam.
    Another presenter explained how 10-m (33-ft) resolution spatially gridded population datasets are essential to address LUCC in environmental and socio-demographic research. There was also a demonstration of PopGrid, which is a collaborative initiative that provides access to various global-gridded population databases, which are valuable for regional LUCC studies and can support informed decision-making and policy development.
    DAY TWO
    The second day’s presentations centered around urban LUCC (Session IV) as well as interconnections between agriculture and water resources. (Session V).
    Session IV: Urban Land Cover/Land Use Change
    Gay Perez [Philippines Remote Sensing Agency (PhilSA)] presented a keynote focused on PhilSA’s mission to advance Philippines as a space-capable country by developing indigenous satellite and launch technologies. He explained that PhilSA provides satellite data in various categories, including sovereign, commercial, open-access, and disaster-activated. He noted that the ground infrastructure – which includes three stations and a new facility in Quezon – supports efficient data processing. For example, Perez stated that in 2023, PhilSA produced over 10,000 maps for disaster relief, agricultural assessments, and conservation planning.
    Perez reviewed PhilSA’s Diwata-2 mission, which launched in 2018 and operates in a Sun-synchronous orbit around 620 km (385 mi) above Earth. With a 10-day revisit capability, it features a high-precision telescope [4.7 m (15ft) resolution], a multispectral imager with four bands, an enhanced resolution camera, and a wide-field camera. Since launch, Diwata-2 has captured over 100,000 global images, covering 95% of the Philippines. Looking to the near future, Perez reported that PhilSA’s launch of the Multispectral Unit for Land Assessment (MULA) satellite is planned for 2025. He explained that MULA will capture images with a 5-m (~16-ft) resolution and 10–20-day revisit time, featuring 10 spectral bands for vegetation, water, and urban analysis.
    Perez also described the Drought and Crop Assessment and Forecasting project, which addresses drought risks and mapping ground motion in areas, e.g., Baguio City and Pangasinan. Through partnerships in the Pan-Asia Partnership for Geospatial Air Pollution Information (PAPGAPI) and the Pandora Asia Network, PhilSA monitors air quality across key locations, tracking urban pollution and cross-border particulate transport. PhilSA continues to strengthen Southeast Asian partnerships to drive sustainable development in the region.
    Jiquan Chen [Michigan State University] presented the second keynote address, which focused on the Urban Rural Continuum (URC). Chen emphasized the importance of synthesizing studies that explore factors such as population dynamics, living standards, and economic development in the URC. Key considerations include differentiating between two- and three-dimensional infrastructures and understanding constraints from historical contexts. Chen highlighted critical variables from his analysis including net primary productivity, household income, and essential infrastructure elements, such as transportation and healthcare systems. He advocated for integrated models that combine mechanistic and empirical approaches to grasp the dynamics of URC changes, stressing their implications for urban planning, environmental sustainability, and social equity. He concluded with a call for collaboration to enhance these models and tackle challenges arising from the changing urban–rural landscape.
    Tep Makathy [Cambodian Institute For Urban Studies] discussed urbanization in Phnom Penh, Cambodia. He explained that significant LUCC and infrastructure developments have been fueled by direct foreign investment; however, this development has resulted in environmental degradation, urban flooding, and infrastructure strain. Tackling pollution, congestion, preservation of green spaces, and preserving the historical heritage of the city will require sustainable urban planning efforts.
    Nguyen Thi Thuy Hang [Vietnam Japan University, Vietnam National University, Hanoi] explained how flooding poses a significant annual threat to infrastructure and livelihoods in Can Tho, Vietnam. Therefore, it is essential to incorporate climate change considerations into land-use planning by enhancing the accuracy of vegetation layer classifications. Doing so will improve the representation of land-cover dynamics in models that decision-makers use when planning urban development. In addition, Hang reported that a more comprehensive survey of dyke systems will improve flood protection and identify areas needing reinforcement or redesign. These studies could also explore salinity intrusion in coastal agricultural areas that could impact crop yields and endanger food security.
    In this session, two presenters highlighted how SAR data, which uses high backscatter to enhance the radar signal, is being used to assist with mapping urban areas in their respective countries. The phase stability and orientation of building structures across SAR images aid in consistent monitoring and backscatter, producing distinct image textures specific to urban settings. Researchers can use this heterogeneity and texture to map urban footprints, enabling automated discrimination between urban and non-urban areas. The first presenters showed how Interferometric Synthetic Aperture Radar techniques, such as Small Baseline Subset (SBAS) and Persistent Scatterer (PS) have been highly effective for mapping and monitoring land subsidence in coastal and urban areas in Vietnam. This approach has been applied to areas along the Saigon River as well as in Ho Chi Minh, Vietnam. The second presenter described an approach (using SAR data with multitemporal coherence and the K-means classification method) that has been used effectively to study urban growth in the Denpasar Greater Area of Indonesia between 2016 and 2022. The technique identified the conversion of 4376 km2 (1690 mi2) of rural to built-up areas, averaging 72.9 hectares (0.3 mi2) per year. Urban sprawl was predominantly observed in the North Kuta District, where the shift from agricultural to built-up land use has been accompanied by severe traffic congestion and other environmental issues.
    Another presenter showed how data from the QuikSCAT instrument, which flew on the Quick Scatterometer satellite, and from the Sentinel-1 C-band SAR can be combined to measure and analyze urban built-up volume, specifically focusing on the vertical growth of buildings across various cities. By integrating these datasets, researchers can assess urban expansion, monitor the development of high-rise buildings, and evaluate the impact of urbanization on infrastructure and land use. This information is essential for urban planning, helping city planners and policymakers make informed decisions to accommodate growing populations and enhance sustainable urban development.
    Session V – LUCC, Agriculture, and Water Resources
    Chris Justice presented the keynote for this session, in which he addressed the GEOGLAM initiative and the NASA Harvest program. GEOGLAM, initiated by the G20 Agriculture Ministers in 2011, focuses on agriculture and food security to increase market transparency and improve food security. These efforts leverage satellite-based Earth observations to produce and disseminate timely, relevant, and actionable information about agricultural conditions at national, regional, and global scales to support agricultural markets and provide early warnings for proactive responses to emerging food emergencies. NASA Harvest uses satellite Earth observations to benefit global food security, sustainability, and agriculture for disaster response, climate risk assessments, and policy support. Justice also emphasized the use of open science and open data principles, promoting the integration of Earth observation data into national and international agricultural monitoring systems. He also discussed the development and application of essential agricultural variables, in situ data requirements, and the need for comprehensive and accurate satellite data products.
    During this session, another presentation focused on how VNSC is engaged in several agricultural projects, including mapping rice crops, estimating yields, and assessing environmental impacts. VNSC has created high-accuracy rice maps for different seasons that the Vietnamese government uses to monitor and manage agricultural production. Current initiatives involve using satellite data to estimate CH4 emissions from rice paddies, biomass mapping, and monitoring rice straw burning. For example, in the Mekong Delta, numerous environmental factors, including climate change-induced stress (e.g., sea-level rise), flooding, drought, land subsidence, and saltwater intrusion, along with human activities like dam construction, sand mining, and groundwater extraction, threaten the sustainability of rice farming and farmer livelihoods. To address these challenges, sustainable agricultural practices are essential to improving rice quality, diversify farming systems, adopt low-carbon techniques, and enhance water management.
    Presentations highlighted the importance of both optical and SAR data for LUCC studies, particularly in mapping agricultural areas. A study using Landsat time-series data demonstrated its value in monitoring agricultural LUCC in Houa Phan Province, Laos, and Son La Province, Vietnam. Land cover types were classified through spectral pattern analysis, identifying distinct classes based on Landsat reflectance values. The findings revealed significant natural forest loss alongside increases in cropland and forest plantations due to agricultural expansion. High-resolution imagery validated these results, indicating the scalability of this approach for broader regional and global land-cover monitoring. Another study showcased the effectiveness of SAR data from the Phased Array type L-band Synthetic Aperture Radar-2 (PALSAR-2) on the Japanese Advanced Land Observing Satellite-2 (ALOS-2) for mapping and monitoring agricultural land use in Suphanburi, Thailand. This data proved particularly useful for capturing seasonal variations and diverse agricultural practices. Supervised machine learning methods, such as Random Forest classifiers, combined with innovative spatial averaging techniques, achieved high accuracy in distinguishing various agricultural conditions.
    In the session, presenters also discussed the use of Sentinel-1 SAR data for mapping submerged and non-submerged paddy soils was highlighted, demonstrating its effectiveness in understanding water management issues see – Figure 4. Additionally, large-scale remote sensing data and cloud computing were shown to provide unprecedented opportunities for tracking agricultural land-use changes in greater detail. Case studies from India and China illustrated key challenges, such as groundwater depletion in irrigated agriculture across the Indo-Ganges region and the impacts on food, water, and air quality in both countries.

    The session also focused on Water–Energy–Food (WEF) issues related to the Mekong River Basin’s extensive network of hydroelectric dams, which present both benefits and challenges. While these dams support sectors such as irrigated agriculture and hydropower, they also disrupt vital ecosystem services, including fish habitats and biodiversity. Collaborative studies integrating satellite and ground data, hydrological models, and socio-economic frameworks highlight the need to balance these benefits with ecological and social costs. Achieving sustainable management requires cross-sectoral and cross-border cooperation, as well as the incorporation of traditional knowledge to address WEF trade-offs and governance challenges in the region.
    DAY THREE
    The third day included a session that explored the impacts of fire, GHG emissions, and pollution (Session VI) as well as a summary discussion on synthesis (Session VII).
    Session VI: Fires, Greenhouse Gas Emissions, and Pollution
    Chris Elvidge [Colorado School of Mines] presented a keynote on the capabilities and applications of the Visible Infrared Imaging Radiometer Suite (VIIRS) Nightfire [VNF] system, an advanced satellite-based tool developed by the Earth Observation Group. VIIRS Nightfire uses four near- and short-wave infrared channels, initially designed for daytime imaging, to detect and monitor infrared emissions at night. The system identifies various combustion sources, including both flaming and non-flaming activities (e.g., biomass burning, gas flaring, and industrial processes). It calculates the temperature, source area, and radiant heat of detected infrared emitters using physical laws to enable precise monitoring of combustion events and provide insight into exothermic and endothermic processes.
    Elvidge explained that VNF has been vital for near-real-time data in Southeast Asia. The system has been used to issue daily alerts for Vietnam, Thailand, and Indonesia. Recent updates in Version 4 (V4) include atmospheric corrections and testing for secondary emitters with algorithmic improvements – with a 50% success rate in identifying additional heat sources. The Earth Observation Group maintains a multiyear catalog of over 20,000 industrial infrared emitters available through the Global Infrared Emitter Explorer (GIREE) web-map service. With VIIRS sensors expected to operate until about 2040 on the Joint Polar Satellite System (JPSS) platforms, this system ensures long-term, robust monitoring and analysis of global combustion events, proving essential for tracking the environmental impacts of industrial activities and natural combustion processes on the atmosphere and ecosystems.
    Toshimasa Ohara [Center for Environmental Science, Japan—Research Director] continued with the second keynote and provided an in-depth analysis of long-term trends in anthropogenic emissions across Asia. The regional mission inventory in Asia encompasses a range of pollutants and offers detailed emissions data from 1950–2020 at high spatial and temporal resolutions. The study employs both bottom-up and top-down approaches for estimating emissions, integrating satellite observations to validate data and address uncertainties. Notably, emissions from China, India, and Japan have shown signs of stabilization or reduction, attributed to stricter emission control policies and technological advancements. Ohara also highlighted Japan’s effective air pollution measures and the importance of extensive observational data in corroborating emission trends. His presentation emphasized the need for improved methodologies in emission inventory development and validation across Asia, aiming to enhance policymaking and environmental management in rapidly industrializing regions.
    Several presenters during this session focused on innovative approaches to understand and mitigate GHG emissions and air pollution. One presenter showed how NO2 data from the TROPOspheric Monitoring Instrument (TROPOMI) on the European Sentinel-5 Precursor have been validated against ground-based observations from Pandora stations in Japan, highlighting the influence of atmospheric conditions on measurement accuracy. Another presenter described an innovative system that GISTDA used to combine satellite remote sensing data with Artificial Intelligence (AI). This system was used to monitor and analyze the concentration of fine particulate matter (PM) in the atmosphere in Thailand. (In this context fine is defined as particles with diameters ≤ 2.5 µm, or PM2.5.) These applications, which are accessible through online, cloud-based platforms and mobile applications for iOS and Android devices, allow users, including citizens, government officers, and policymakers, to access PM2.5 data in real-time through web and mobile interfaces.
    A project under the United Nations Economic and Social Commission for Asia and the Pacific in Thailand is focused on improving air quality monitoring across the Asia–Pacific region by integrating satellite and ground-based data. At the core of this effort, the Pandora Asia Network, which includes 30 ground-based instruments measuring pollutants such as NO₂ and sulfur dioxide (SO₂), is complemented by high-resolution observations from the Geostationary Environment Monitoring Spectrometer (GEMS) aboard South Korea’s GEO-KOMPSAT-2B (GK-2B) satellite. The initiative also provides training sessions to strengthen regional expertise in remote sensing technologies for air quality management and develops decision support systems for evidence-based policymaking, particularly for monitoring pollution sources and transboundary effects like volcanic eruptions. Future plans include expanding the Pandora network and enhancing data integration to support local environmental management practices.
    PM2.5 levels in Vietnam are influenced by both local emissions and long-range pollutant transport, particularly in urban areas.The Vietnam University of Engineering and Technology, in conjunction with VNSC, continues to map and monitor PM2.5 using satellites and machine learning while addressing data quality issues that stem from missing satellite data and limited ground monitoring stations – see Figure 5.
    In addition to mapping and monitoring pollutants, another presentater explained that significant research is underway to address their health impacts. In Hanoi, exposure to pollutants ( e.g., PM2.5, PM10, and NO2) has led to increased rates of respiratory diseases (e.g., pneumonia, bronchitis, and asthma) among children,  as well as elevated instances of cardiovascular diseases among adults. A substantial mortality burden is attributable to fine particulate matter – particularly in densely populated areas like Hanoi. Compliance with stricter air quality guidelines could potentially prevent thousands of premature deaths. For example, preventive measures enacted during the COVID-19 pandemic resulted in reduced pollution levels that were associated with a decrease in avoidable mortality rates. In response to these challenges, Vietnam has implemented air quality management policies, including national technical regulations and action plans aimed at controlling emissions and enhancing monitoring; however, current national standards still fall short of the more stringent guidelines recommended by the World Health Organization. Improved air quality standards and effective policy interventions are needed to mitigate the health risks associated with air pollution in Vietnam.

    Another presenter explained how food production in Southeast Asia contributes about 40% of the region’s total GHG emissions – with rice and beef production identified as the largest contributors for plant-based and animal-based emissions, respectively. Another presentation focused on a study that examined GHG emissions from agricultural activities, which suggests that animal-based food production – particularly beef – generates substantially higher GHG emissions per kg of food produced compared to plant-based foods, such as wheat and rice. Beef has an emission intensity of about 69 kg of CO2 equivalent-per-kg, compared to 2 to 3 kg of CO2 equivalent-per-kg for plant-based foods. The study points to mitigation strategies (e.g., changing dietary patterns, improving agricultural practices) and adopting sustainable land management. Participants agreed that a comprehensive policy framework is needed to address the environmental impacts of food production and reduce GHG emissions in the agricultural sector.
    In another presentation, the speaker highlighted the fact that Southeast Asian countries need an advanced monitoring, reporting, and verification system to track GHG emissions – particularly within high-carbon reservoirs like rice paddies. To achieve this, cutting-edge technologies (e.g., satellite remote sensing, low-cost unmanned aerial vehicles, and Internet of Things devices) can be beneficial in creating sophisticated digital twin technology for sustainable rice production and GHG mitigation.
    Another presentation featured a discussion about pollution resulting from forest and peatland fires in Indonesia, which is significantly impacting air quality. Indonesia’s tropical peatlands – among the world’s largest and most diverse – face significant threats from frequent fires. Repeated burning has transformed forests into shrubs and secondary vegetation regions, with fires particularly affecting forest edges and contributing to a further retreat of intact forest areas. High-resolution data is essential to map and monitor changes in forest cover, including pollution impacts.
    Another speaker described a web-based Geographic Information Systems (GIS) application that has been developed to support carbon offsetting efforts in Laos – to address significant environmental challenges, e.g., deforestation and climate change. Advanced technologies (e.g., remote sensing, GIS, and Global Navigation Satellite Systems) are used to monitor land-use changes, carbon sequestration, and ecosystem health. By integrating various spatial datasets, the web GIS app enhances data collection precision, streamlines monitoring processes, and provides real-time information to stakeholders for informed decision-making. This initiative fosters collaboration among local communities, government agencies, and international partners, while emphasizing the importance of government support and international partnerships. Ultimately, the web GIS application represents a significant advancement in Laos’s commitment to environmental sustainability, economic growth, and the creation of a greener future.
    Session VII. Discussion Session on Synthesis
    The meeting concluded with a comprehensive discussion on synthesizing themes related to LUCC. The session focused on three themes: LUCC, agriculture, and air pollution. The session focused on trends and projections as well as the resulting impacts in the coming years. It also highlighted research related to these topics to inform more sustainable land use policies. A panel of experts from different Southeast Asian countries addressed these topics. A summary of the key points shared by the panelists for each theme during the discussion is provided below.
    LUCC Discussions
    This discussion focused on the challenges of balancing economic development with environmental sustainability in Southeast Asian countries, e.g., mining in Myanmar, agriculture in Vietnam, and rising land prices in Thailand. More LUCC research is needed to inform decision-making and improve land-use planning during transitions from agriculture to industrialization while ensuring food security. The panelists also discussed urban sprawl and infrastructure development along main roads in several Southeast Asian countries, highlighting the social and environmental challenges arising from uncoordinated growth. It was noted that urban infrastructure lags behind population increases, resulting in traffic congestion, pollution, and social inequality. Cambodia, for example, has increased foreign investments, which presents similar dilemmas of economic growth accompanied by significant environmental degradation. Indonesia is another example of a Southeast Asian nation facing rapid urbanization and inadequate spatial planning, leading to flooding, groundwater depletion, and pollution. These issues further highlight the need for integrated satellite monitoring to inform land-use policies. Finally, recognizing the importance of public infrastructure in growth management, it was reported that the Thai government is already using technology to manage urban development alongside green spaces.
    Panelists agreed that LUCC research is critical for guiding policymakers toward sustainable land-use practices – emphasizing the necessity for improved communication between researchers and policymakers. While the integration of technologies (e.g., GIS and remote sensing) is beginning to influence policy decisions, room for improvement remains. In summary, the discussions stressed the importance of better planning, technology integration, and policy-informed research to reconcile economic growth with sustainability. Participants also highlighted the need to engage policymakers, non-government organizations, and the private sector in using scientific evidence for sustainable development. Capacity building in Laos, Cambodia, and Myanmar, where GIS and remote sensing technologies are still developing, is crucial. Community involvement is essential for translating research findings into actionable policies to address real-world challenges and social equity.
    Agriculture Discussions
    These discussions explored the intricate relationships between agricultural practices, economic growth, and environmental sustainability in Southeast Asia. As an example, despite national policies to manage the land transition in Vietnam, rapid conversions from forest to agricultural land and further to residential and industrial continue. While it is recognized that strict land management plans may hinder future adaptability, further regulation is needed. These rapid shifts in land use have increased land for economic development – especially in industrial and residential sectors – and contribute to environmental degradation, e.g., pollution and soil erosion. In Thailand, land is distributed among agriculture (50%), forest (30%), and urban (20%) areas. Despite a long history of agricultural practices, Vietnam faces new challenges from climate change and extreme weather.
    Thailand, meanwhile, is exploring carbon credits to incentivize sustainable farming practices – although this requires significant investment and time. The nation is well-equipped with a robust water supply system, and ongoing efforts to enhance crop yields on Vietnam’s Mekong Delta, salinity levels, and flooding intensity have increased as a result of the rise in incidents of extreme weather, prompting advancements in rice farming mechanization to be implemented that are modeled after practices that have been successfully used in the Philippines.
    Despite these advances, issues (e.g., over-application of rice seeds) remain. The dominant land cover type in Malaysia is tropical rainforest, although agriculture – particularly oil palm plantations – also plays a significant role in land use. While stable, it shares environmental concerns with Indonesia. The country is integrating solar energy initiatives, placing solar panels on former agricultural lands and recreational areas, which raises coastal environmental concerns. In Taiwan, substantial land use changes have stemmed from solar panel installations to support green energy goals but have led to increased temperatures and altered wind patterns.
    All panelists agreed that remote sensing technologies are vital to inform agricultural policy across the region. They emphasized the need to transition from academic research to actionable insights that directly inform policy. Panelists also discussed the challenge of securing funding for actionable research – underlining the importance of recognizing the transition required for research to inform operational use. Some countries (e.g., Thailand) have established operational crop monitoring systems, while others (e.g., Vietnam) primarily depend on research projects. Despite progress in Malaysia’s monitoring of oil palm plantations, a comprehensive operational monitoring system is still lacking in many areas. The participants concluded that increased efforts are needed to promote the wider adoption of remote sensing technologies for agricultural and environmental monitoring, with emphasis on developing operational systems that can be integrated into policy and decision-making processes.
    Air Pollution Discussions
    The discussion on air pollution focused on various sources in Southeast Asia, which included both local and transboundary factors. Panelists highlighted that motor vehicles, industrial activities, and power plants are major contributors to pollutants, such as PM2.5, NO2, ozone (O3), and carbon monoxide (CO). Forest fires in Indonesia – particularly from South Sumatra and Riau provinces – are significantly impacting neighboring countries, e.g., Malaysia. A study found that most PM2.5 pollution in Kuala Lumpur originates from Indonesia. During the COVID-19 pandemic, pollution levels dropped sharply due to reduced economic activity; however, data from 2018–2023 shows that PM2.5 levels have returned to pre-pandemic conditions.
    The Indonesian government is actively working to reduce deforestation and emissions, aiming for a 29% reduction by 2030. Indonesia is also participating in carbon markets and receiving international payments for emission reductions. Indonesia’s emissions also stem from energy production, industrial activities, and land-use changes, including peat fires. The Indonesian government reports anthropogenic sources – particularly from the energy sector and industrial activities, forest and peat fires, waste, and agriculture – continue to escalate. While Indonesia is addressing these issues, growing population and energy demands continue to drive pollution levels higher.
    Vietnam and Laos are facing similar challenges related to air pollution – particularly from agricultural residue burning. Both governments are working on expanding air quality monitoring, regulating waste burning, and developing policies to mitigate pollution. Vietnam has been developing provincial air quality management plans and expanding its monitoring network. Laos has seen increased awareness of pollution, accompanied by government measures aimed at restricting burning and improving waste management practices.
    The panelists agreed that collaborative efforts for regional cooperation are essential to address air pollution. This will require collaboration in research and data sharing to inform policy decisions. There is a growing interest in leveraging satellite technology and modeling approaches to enhance air quality forecasting and management. To ensure that research translates into effective policy, communication of scientific findings to policymakers is essential – particularly by clearly communicating complex research concepts in accessible formats. All panelists agreed on the importance of improving governance, transparency, and scientific communication to better translate research into policy actions, highlighting collaborations with international organizations – including NASA – to address air quality issues. While significant challenges related to air pollution persist in Southeast Asia, noteworthy efforts are underway to improve awareness, research, and collaborative governance aimed at enhancing air quality and reducing emissions.
    Conclusion
    The LCLUC–SARI Synthesis meeting fostered collaboration among researchers and provided valuable updates on recent developments in LUCC research, exchange of ideas, integration of new data products, and discussions on emerging science directions. This structured dialogue (particularly the discussions in each session) helped the attendees identify priorities and needs within the LUCC community. All panelists and meeting participants commended the SARI leadership for their proactive role in facilitating collaborations and discussions that promote capacity-building activities across the region. SARI activities have significantly contributed to enhancing the collective ability of countries in South and Southeast Asia to address pressing environmental challenges. The meeting participants emphasized the importance of maintaining and expanding these collaborative efforts, which are crucial for fostering partnerships among governments, research institutions, and local communities. They urged SARI to continue organizing workshops, training sessions, and knowledge-sharing platforms that can equip stakeholders with the necessary skills and resources to tackle environmental issues such as air pollution, deforestation, climate change, and sustainable land management.
    Krishna VadrevuNASA’s Marshall Space Flight Centerkrishna.p.vadrevu@nasa.gov
    Vu TuanVietnam National Science Center, Vietnamvatuan@vnsc.org.vn
    Than NguyenVietnam National University Engineering and Technology, Vietnamthanhntn@vnu.edu.vn
    Son NghiemJet Propulsion Laboratoryson.v.nghiem@jpl.nasa.gov
    Tsuneo MatsunagaNational Institute of Environmental Studies, Japanmatsunag@nies.go.jp
    Garik GutmanNASA Headquartersggutman@nasa.gov
    Christopher JusticeUniversity of Maryland College Parkcjustice@umd.edu

    MIL OSI USA News

  • MIL-OSI Security: Dartmouth — Statement from Assistant Commissioner Dennis Daley, Commanding Officer, Nova Scotia RCMP, in response to RCMP member charged with breaking and entering and mischief

    Source: Royal Canadian Mounted Police

    Earlier today, the Serious Incident Response Team (SiRT) charged one of our members, Cst. Sara Bennett, with breaking and entering and mischief in relation to incidents involving a man known to her.

    The RCMP takes all allegations of misconduct seriously; our employees are expected to conduct themselves in a manner that not only meets, but exceeds, the rightfully high expectations of Canadians.

    Cst. Bennett, who’s been an RCMP member since June 2023, is currently on administrative duties. An internal code of conduct investigation has been initiated and is ongoing. Cst. Bennett’s duty status will be continuously assessed throughout both the court and internal processes.

    Media release issued by SiRT:

    SiRT charges Nova Scotia RCMP officer with breaking and entering and mischief

    The Director of the Serious Incident Response Team (SiRT) has reasonable and probable grounds to believe that a member of the RCMP committed criminal offences in Sydney Cape Breton, relating to incidents involving the property of a male known to her.

    On December 14, 2024, Cape Breton Regional Police contacted SiRT regarding an incident involving a member of the RCMP.

    On February 20, 2025, Constable Sara Bennett was charged with breaking and entering and committing an offence contrary to s. 348(1)(b) of the Criminal Code and mischief relating to property valued over five thousand dollars contrary to s. 430(3) of the Criminal Code.

    Constable Bennett will appear before the Nova Scotia Provincial Court at 136 Charlotte Street, Sydney on February 28, 2025, at 9:30 a.m.

    As the matter is before the courts, and in consideration of the fair trial interests of the accused, SiRT will not provide further comment on the investigation.

    SiRT is responsible for investigating all matters that involve death, serious injury, sexual assault and intimate partner violence or other matters of public interest that may have arisen from the actions of any police officer in Nova Scotia and New Brunswick.

    Investigations are under the direction and control of an independent civilian director, who has the sole authority to determine if charges should be laid at the conclusion of an investigation.

    MIL Security OSI

  • MIL-OSI USA: Luján: Patel Will Use FBI’s Power for Political Retribution

    US Senate News:

    Source: US Senator for New Mexico Ben Ray Luján
    Patel Has Repeatedly Pushed Conspiracy Theories and Threatened to Go After President Trump’s “Enemies List”
    Washington, D.C. – U.S. Senator Ben Ray Luján (D-N.M.) issued the following statement after Senate Republicans voted to confirm Kash Patel as the Director of the Federal Bureau of Investigation (FBI):
    “Instead of addressing crime and keeping New Mexicans safe, the Trump administration is firing FBI agents for doing their jobs and upholding the law. Even before his confirmation, multiple whistleblowers revealed that Mr. Patel has been directing the dismissal of senior law enforcement officials at the FBI to seek retribution on behalf of the President. With Kash Patel in charge, the FBI will be weaponized to target those on Mr. Patel’s ‘enemies list’ instead of working toward solutions to make our communities safer.
    “Make no mistake, Mr. Patel was nominated – and confirmed – to follow through with President Trump’s agenda of revenge and retribution. He has no business leading the very agency that he’s called to dismantle.”  

    MIL OSI USA News

  • MIL-OSI: Federal Home Loan Bank of Indianapolis Announces Fourth Quarter 2024 Dividends, Reports Earnings

    Source: GlobeNewswire (MIL-OSI)

    INDIANAPOLIS, Feb. 20, 2025 (GLOBE NEWSWIRE) — Today the Board of Directors of the Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis” or “Bank”) declared its fourth quarter 2024 dividends on Class B-2 activity-based capital stock and Class B-1 non-activity-based stock at annualized rates of 9.50% and 4.50%, respectively. The higher dividend rate on activity-based stock reflects the Board’s discretion under the Bank’s capital plan to reward members that use FHLBank Indianapolis in support of their liquidity needs.

    The dividends will be paid in cash on February 21, 2025.

    “I am proud that FHLBank Indianapolis delivered strong financial results in 2024, a reflection of our steadfast commitment to serving our members’ liquidity needs while maintaining the Bank’s financial strength and stability,” President and CEO Cindy Konich said.

    She added: “In addition to another strong dividend for our members, these results allowed us to invest at record levels in the communities our members serve, including an additional voluntary contribution of 7.5% of 2023 net earnings – bringing the total support of housing and community initiatives in 2024 to 17.5%. Building on the success of 2024, we look forward to continuing this support in 2025 at 17.5% of 2024 net earnings.”

    Earnings Highlights

    Net income, for the fourth quarter of 2024, was $67 million, a net decrease of $37 million compared to the corresponding quarter in the prior year. The decrease was primarily due to a significant increase in voluntary contributions to affordable housing and community investment programs and unrealized losses on qualifying fair-value hedging relationships.

    Net income, for the year ended December 31, 2024, was $342 million, a net decrease of $35 million compared to the prior year. The decrease was primarily due to a significant increase in voluntary contributions to affordable housing and community investment programs and net realized gains on the extinguishment of consolidated obligations in 2023 that did not occur in 2024. However, such decrease was partially offset by higher earnings on the portion of the Bank’s assets funded by its capital.1

    Affordable Housing Program Allocation

    The Bank’s Affordable Housing Program (“AHP”) provides grant funding to support housing for low- and moderate-income families in communities served by its Michigan and Indiana members. For the year ended December 31, 2024, AHP assessments2 totaled $40 million. Such required allocations will be available to the Bank’s members in 2025 to help address their communities’ affordable housing needs, including construction, rehabilitation, accessibility improvements and homebuyer down-payment assistance.

    In addition, as part of the Bank’s commitment to further support its AHP and additional affordable housing and community investment programs, the Bank voluntarily contributed additional funding in 2024 totaling $33 million. Additionally, the Bank made a supplemental voluntary contribution to its AHP totaling $4 million. As a result, voluntary contributions to housing and community investment programs in 2024 totaled $37 million, all of which have been recognized and reported in other expenses.

    The Bank’s combined required and voluntary allocations recognized in 2024 totaled $77 million, an increase of $29 million, or 60%, compared to the prior year.

    __________________

    FHLBank Indianapolis earns interest income on advances to and mortgage loans purchased from its Michigan and Indiana member financial institutions, as well as on long- and short-term investments. Net interest income is primarily determined by the size of the Bank’s balance sheet and the spread between the interest earned on its assets and the interest cost of funding with consolidated obligations. Because of the Bank’s inherent relatively low interest-rate spread, it has historically derived a substantial portion of its net interest income from deploying its interest-free capital in floating-rate assets.

    2 Each year, Federal Home Loan Banks are required to allocate to the AHP 10% of earnings, defined for this purpose as income before assessments plus interest expense on mandatorily redeemable capital stock.

    Condensed Statements of Income

    The following table presents unaudited condensed statements of income ($ amounts in millions):

        Three Months Ended
    December 31,
      Year Ended
    December 31,
          2024     2023     2024     2023
    Interest income(a)   $ 989   $ 1,013   $ 4,130   $ 3,755
    Interest expense(a)     866     873     3,623     3,260
    Provision for credit losses                
    Net interest income after provision for credit losses     123     140     507     495
    Other income(b)     6     7     32     46
    Other expenses(c)     54     31     157     120
    AHP assessments     8     12     40     44
                     
    Net income   $ 67   $ 104   $ 342   $ 377
    (a) Includes hedging gains (losses) and net interest settlements on fair-value hedge relationships. The Bank uses derivatives, specifically interest-rate swaps, to hedge the risk of changes in the fair value of certain of its advances, available-for-sale securities and consolidated obligations. These derivatives are designated as fair-value hedges and, therefore, changes in the estimated fair value of the derivative, and changes in the fair value of the hedged item that are attributable to the hedged risk, are recorded in net interest income.
    (b) Includes impact of purchase discount (premium) recorded through mark-to-market gains (losses) on trading securities and net interest
    settlements on derivatives hedging trading securities, while generally offsetting interest income on trading securities is included in
    interest income.
    (c) Includes voluntary contributions to the Bank’s AHP and other affordable housing, small business and community investment programs.
       

    Balance Sheet Highlights

    Total assets, at December 31, 2024, were $84.5 billion, a net increase of $7.9 billion, or 10%, from December 31, 2023, primarily due to an increase in advances and mortgage loans outstanding.

    Advances 3

    The carrying value of advances outstanding, at December 31, 2024, totaled $39.8 billion, a net increase of $4.3 billion, or 12%, from December 31, 2023. The par value of advances outstanding increased by 12% to $40.1 billion, which included a net increase in short-term advances of 54% and a net decrease in long-term advances of 4%. At December 31, 2024, based on contractual maturities, long-term advances composed 63% of advances outstanding, while short-term advances composed 37%.

    The par value of advances outstanding to depository institutions — comprising commercial banks, savings institutions and credit unions — increased by 18%, while advances outstanding to insurance companies increased by 1%. As a percent of total advances outstanding at par value at December 31, 2024, advances to commercial banks and savings institutions were 52% and advances to credit unions were 14%, resulting in total advances to depository institutions of 66%, while advances to insurance companies were 34%.

    In general, advances fluctuate in accordance with members’ funding needs, primarily determined by their deposit levels, mortgage pipelines, loan growth, investment opportunities, available collateral, other balance sheet strategies, and the cost of alternative funding options.

    Mortgage Loans Held for Portfolio 4

    Mortgage loans held for portfolio, at December 31, 2024, totaled $10.8 billion, a net increase of $2.2 billion, or 25%, from December 31, 2023, as the Bank’s purchases from its members significantly exceeded principal repayments by borrowers. Purchases of mortgage loans from members, for the year ended December 31, 2024, totaled $3.2 billion.

    In general, the Bank’s volume of mortgage loans purchased is affected by several factors, including interest rates, competition, the general level of housing and refinancing activity in the United States, consumer product preferences, the Bank’s balance sheet capacity and risk appetite, and regulatory considerations.

    Liquidity Investments 5

    Liquidity investments, at December 31, 2024, totaled $12.9 billion, a net increase of $759 million, or 6%, from December 31, 2023. The Bank’s liquidity remained well above regulatory requirements and continues to enable the Bank to be a reliable liquidity provider to its members.

    Cash and short-term investments increased by $271 million, or 2%, to $11.8 billion. The portion of U.S. Treasury obligations classified as trading securities increased by $488 million, or 81%, to $1.1 billion. As a result of this activity, cash and short-term investments represented 92% of the total liquidity investments at December 31, 2024, while U.S. Treasury obligations represented 8%.

    The total outstanding balance and composition of the Bank’s liquidity investments are influenced by its liquidity needs, regulatory requirements, actual and anticipated member advance activity, market conditions, and the availability of short-term investments at attractive interest rates, relative to the cost of funds.

    Other Investment Securities

    Other investment securities, which consist substantially of mortgage-backed securities and U.S. Treasury obligations classified as held-to-maturity or available-for-sale, at December 31, 2024, totaled $20.2 billion, a net increase of $738 million, or 4%, from December 31, 2023.

    Consolidated Obligations 6

    FHLBank Indianapolis’ consolidated obligations outstanding, at December 31, 2024, totaled $78.1 billion, a net increase of $7.0 billion, or 10%, from December 31, 2023, which reflected increased funding needs associated with the net increase in the Bank’s total assets.

    Capital 7

    Total capital, at December 31, 2024, was $4.2 billion, a net increase of $491 million, or 13%, from December 31, 2023. The net increase resulted primarily from issuances of capital stock to support advance activity and the growth in retained earnings.

    The Bank’s regulatory capital-to-assets ratio8, at December 31, 2024, was 5.44%, which exceeds all applicable regulatory capital requirements.

    __________________

    3 Advances are secured loans that the Bank provides to its member institutions.
    4 The Bank purchases mortgage loans from its members to support its housing mission, provide an additional source of liquidity to its members, and diversify its investments.
    5 The Bank’s liquidity investments consist of cash, interest-bearing deposits, securities purchased under agreements to resell, federal funds sold and U.S. Treasury obligations.
    6 The primary source of funds for FHLBank Indianapolis, and for the other FHLBanks, is the sale of FHLBanks’ consolidated obligations in the capital markets. FHLBank Indianapolis is the primary obligor for the payment of the principal and interest on the consolidated obligations issued on its behalf; additionally, it is jointly and severally liable with each of the other FHLBanks for all of the FHLBanks’ consolidated obligations outstanding.
    7 FHLBank Indianapolis is a cooperative whose member financial institutions and former members own all of its capital stock as a condition of membership and to support outstanding credit products.
    8 Total regulatory capital, which consists of capital stock, mandatorily redeemable capital stock and retained earnings, as a percentage of total assets.

    Condensed Statements of Condition

    The following table presents unaudited condensed statements of condition ($ amounts in millions):

        December 31, 2024   December 31, 2023
    Advances   $ 39,833     $ 35,562  
    Mortgage loans held for portfolio, net     10,796       8,614  
    Liquidity investments     12,911       12,152  
    Other investment securities(a)     20,189       19,451  
    Other assets     806       829  
             
    Total assets   $ 84,535     $ 76,608  
             
    Consolidated obligations   $ 78,085     $ 71,053  
    MRCS     363       369  
    Other liabilities     1,852       1,442  
    Total liabilities     80,300       72,864  
             
    Capital stock(b)     2,555       2,285  
    Retained earnings(c)     1,684       1,532  
    Accumulated other comprehensive income (loss)     (4 )     (73 )
    Total capital     4,235       3,744  
             
    Total liabilities and capital   $ 84,535     $ 76,608  
             
    Total regulatory capital(d)   $ 4,602     $ 4,186  
             
    Regulatory capital-to-assets ratio     5.44 %     5.46 %
    (a) Includes held-to-maturity and available-for-sale securities.
    (b) Putable by members at par value.
    (c) Includes restricted retained earnings, at December 31, 2024 and December 31, 2023, of $466 million and $398 million, respectively.
    (d) Consists of total capital less accumulated other comprehensive income plus mandatorily redeemable capital stock.
       

    All amounts referenced above are unaudited. More detailed information about FHLBank Indianapolis’ financial condition as of December 31, 2024, and its results for the year then ended, will be included in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Bank’s Annual Report on Form 10-K.

    Safe Harbor Statement

    This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 concerning plans, objectives, goals, strategies, future events and performance. Forward-looking statements can be identified by words such as “will,” “believes,” “may,” “temporary,” “estimates,” and “expects” or the negative of these words or comparable terminology. Each forward-looking statement contained in this news release reflects FHLBank Indianapolis’ current beliefs and expectations. Actual results or performance may differ materially from what is expressed in any forward-looking statements.

    Any forward-looking statement contained in this news release speaks only as of the date on which it was made. FHLBank Indianapolis undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Readers are referred to the documents filed by the Bank with the U.S. Securities and Exchange Commission (“SEC”), specifically reports on Form 10-K and Form 10-Q, which include factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov.

    Media Contact:
    Scott Thien
    Senior Corporate Communications Associate
    317-902-3103
    sthien@fhlbi.com

    Building Partnerships. Serving Communities.
    FHLBank Indianapolis is a regional bank included in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to provide access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members’ customers. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.com. Also, follow the Bank on LinkedIn, as well as Instagram and X at @FHLBankIndy. Please note that content the Bank shares on its website and social media is not incorporated by reference into any of its filings with the SEC unless, and only to the extent that, a filing by the Bank with the SEC expressly provides to the contrary.

    The MIL Network

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 20.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    20 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 20.02.2025

    Espoo, Finland – On 20 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,256,122 4.77
    CEUX
    BATE
    AQEU
    TQEX
    Total 1,256,122 4.77

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 20 February 2025 was EUR 5,989,818. After the disclosed transactions, Nokia Corporation holds 254,445,785 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network

  • MIL-OSI Security: Suburban Chicago Man Sentenced to More Than Five Years in Prison for $1.5 Million COVID-Relief Fraud

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    CHICAGO — A federal judge has sentenced a suburban Chicago man to more than five years in prison for fraudulently obtaining more than $1.5 million in small business loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

    Over a five-month period in 2021, FEROZ JALAL participated in a scheme to defraud banks and the U.S. Small Business Administration.  The SBA’s Paycheck Protection Program allowed qualifying small businesses to receive low-interest, government-backed loans to cover a temporary loss of revenue during the Covid pandemic.  As part of the scheme, Jalal submitted to lenders and the SBA at least a dozen applications for PPP loans on behalf of businesses that he and others purportedly owned.  The applications contained false statements and misrepresentations concerning the purported entities’ employees, revenues, costs, and statuses of operations.  In support of his applications, Jalal provided, among other things, fake IRS tax filings and bogus spreadsheets that purported to document the companies’ payroll expenses.

    Jalal and co-schemers submitted fraudulent applications for PPP loans in amounts totaling $1.792 million, causing $1.644 million to be disbursed by lenders.

    Jalal, 51, of Niles, Ill., pleaded guilty last year to bank fraud and money laundering charges.  On Feb. 11, 2025, U.S. District Judge John F. Kness sentenced Jalal to five years and two months in federal prison and ordered him to pay more than $1.5 million in restitution to the SBA.

    The sentence was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI, and Sean Fitzgerald, Special Agent-in-Charge of the Chicago office of Homeland Security Investigations.  Substantial assistance was provided by the U.S. Department of Health and Human Services, Office of Inspector General (HHS-OIG).  The government was represented by Assistant U.S. Attorney Brian Hayes.

    Anyone with information about attempted Covid-relief fraud can report it to the Department of Justice by calling the National Center for Disaster Fraud at (866) 720-5721, or by filing an online complaint at https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    MIL Security OSI

  • MIL-OSI Security: Waukee Man Sentenced to 32 Years in Federal Prison for Fentanyl and Fraud-Related Charges

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    DES MOINES, Iowa – A Waukee man was sentenced today to 32 years in federal prison for fraud, money laundering, and fentanyl distribution.

    According to public court documents and evidence presented at sentencing, Stephan Rashad Haley, 36, also known as “Ace” and “Bosh,” acquired large quantities of counterfeit pills containing fentanyl from multiple drug sources and distributed the fentanyl-laced pills in the Southern District of Iowa. During an October 2023 search warrant at Haley’s Waukee residence, law enforcement located a stolen, loaded pistol, marijuana, cocaine, and pills containing fentanyl. Haley used the stolen pistol during an October 2023 shooting at an apartment complex in West Des Moines. At sentencing, the Court found Haley was responsible for more than 12 kilograms of fentanyl.

    From May to August 2023, Haley also participated in a vast, multi-million-dollar fraud scheme. Working with coconspirators located throughout the country, Haley recruited at least three other individuals to open fraudulent bank accounts and deposit stolen checks. The portion of the conspiracies in which Haley participated caused an intended loss of over $3.5 million to more than 10 victims.

    After completing his term of imprisonment, Haley will be required to serve a five-year term of supervised release. There is no parole in the federal system. Haley was also ordered to pay $66,437 in restitution.

    Ten of Haley’s co-defendants in the fraud and money laundering case remain set for trial, currently scheduled to begin on June 23, 2025. Eight co‑defendants have pleaded guilty.

    United States Attorney Richard D. Westphal of the Southern District of Iowa made the announcement. This case was investigated by the Internal Revenue Service Criminal Investigation, Federal Bureau of Investigation, and West Des Moines Police Department, with assistance from the Treasury Inspector General for Tax Administration, Clive Police Department, United States Postal Inspection Service, Bureau of Alcohol, Tobacco, Firearms, and Explosives, Des Moines Police Department, Secret Service, and numerous state and local agencies from across the country.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results. For more information about Project Safe Neighborhoods, please visit Justice.gov/PSN.

    MIL Security OSI

  • MIL-OSI Security: Drug Distributor Caught with Massive Amounts of Fentanyl and Methamphetamine as Well as Firearms, Body Armor, and Silencer Sentenced to 13 Years in Prison

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

    Tacoma – A 32-year-old Renton, Washington resident was sentenced today in U.S. District Court in Tacoma to 13 years in prison for his role in a drug trafficking ring connected to Aryan prison gangs, announced Acting U.S. Attorney Teal Luthy Miller. Shawn Ellis was arrested in March 2023, when federal agents moved in following a two-year investigation of drug trafficking activities. A search of Ellis’ car turned up buckets filled with fentanyl pills and kilos of methamphetamine, as well as four firearms – including a machine gun. At today’s sentencing hearing, Chief U.S. District Judge David G. Estudillo said, “We’re talking about a significant amount of controlled substances,” and added, “What is really significant and obviously scary for the community is the firearms.”

    According to records filed in the case, Ellis was a prolific drug redistributor. He obtained drugs from one branch of the drug conspiracy and sold the drugs to other customers for profit. Ellis would order as much as 30 pounds of methamphetamine at a time. When Ellis was arrested, agents seized the buckets of fentanyl and methamphetamine as well as cocaine and fake Xanax pills. Ellis carried four guns in the car to protect his drugs – a loaded pistol between the driver’s seat and center console, an SK-15 rifle hidden in a violin case, a shotgun and a second loaded pistol. He also had body armor in the vehicle.

    In a storage shed Ellis controlled were five additional firearms, a large amount of ammunition, additional body armor and a homemade silencer. Ellis also stored cash, jewelry, precious metals, coins and other collectibles in the shed – proceeds of his drug trafficking.

    Ellis has two prior felony drug convictions and is prohibited from possessing firearms.

    In asking for a 15-year sentence prosecutors wrote to the court, “But the danger Ellis posed to the community does not stop (with his possession of a silencer). He carried guns in his car along with his drugs, including a pistol which he kept close at hand near the driver’s seat. Ellis also kept in the car a second pistol, a shotgun, and an AR-15 type rifle that he hid in a violin case. This rifle proved to be a machinegun that fires fully automatically. As a felon, Ellis could not legally possess any firearms, much less a silencer or a machinegun.”

    Law enforcement made two dozen arrests on federal charges on March 22, 2023. The coordinated takedown involved ten swat teams and more than 350 law enforcement officers. On that day law enforcement seized 177 firearms, more than ten kilos of methamphetamine, 11 kilos of fentanyl pills and more than a kilo of fentanyl powder, three kilos of heroin, and more than $330,000 in cash from eighteen locations in Washington and Arizona. Earlier in the investigation law enforcement seized 830,000 fentanyl pills, 5.5 pounds of fentanyl powder, 223 pounds of methamphetamine, 3.5 pounds of heroin, 5 pounds of cocaine, $388,000 in cash, and 48 firearms.

    The top-level leader of the drug trafficking ring, Jesse Bailey, is scheduled to be sentenced on June 13, 2025, and his wife and co-conspirator Candace Bailey, is scheduled for sentencing on May 16, 2025.

    This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    This investigation was led by the FBI with critical investigative teamwork from the Drug Enforcement Administration (DEA), Homeland Security Investigations (HSI), the Washington State Department of Corrections and significant local assistance from the Tacoma Police Department, Pierce County Sheriff’s Office, and the Thurston County Narcotics Task Force, led by the Thurston County Sheriff’s Office. Throughout this investigation the following agencies assisted the primary investigators: Washington State Patrol, Customs and Border Protection Air and Marine, Lewis County Sheriff’s Office, Lakewood Police Department, and U.S. Postal Inspection Service (USPIS).

    The case is being prosecuted by Assistant United States Attorneys Zach Dillon, Max Shiner, and Jehiel Baer.

    MIL Security OSI

  • MIL-OSI Economics: DDG Ellard urges support for multilateral trading system amid geopolitical challenges

    Source: World Trade Organization

    Good morning, Chairman Lange, esteemed Members of the European Parliament, and the Steering Committee of the Interparliamentary Union.

    It is a privilege to be here with you today. I have a deep appreciation for the complexities of your work and the pivotal position you occupy in bringing together international institutions with the public you represent.

    As Parliamentarians, your engagement on WTO matters is essential — not only for shaping trade policy but for ensuring that our work delivers real and meaningful benefits to the public. Parliaments serve as the voice of the people in global trade discussions, and your leadership is crucial in making multilateralism both effective and responsive to the needs of your citizens.

    Today, as the WTO marks its 30th anniversary, and its 80th beginning as the GATT, I will focus on two pressing topics. First, I will describe the negotiating priorities outlined by the WTO’s Members as we gear up for the 14th Ministerial Conference, scheduled to take place in March next year in Cameroon. Second, I will touch upon the broader geopolitical context — a subject that I know is front and center.

    Fish

    Let me begin with a subject that is especially important to showing the success of the multilateral trading system for economic and environmental sustainability:  fisheries subsidies. One of our Members’ most pressing priorities is to ensure the entry into force of the Agreement on Fisheries Subsidies, while also advancing and completing the negotiations on the second phase, to achieve even deeper disciplines. These efforts are vital to protecting our oceans and promoting sustainable fishing practices worldwide.

    The landmark WTO Agreement on Fisheries Subsidies concluded at MC12 in 2022 brought WTO Members a major step closer to fulfilling the SDG 14.6 mandate by prohibiting subsidies to fishing activities considered to be among the most harmful to the sustainability of our oceans. It is estimated that USD 22 billion of harmful fisheries subsidies are provided each year. Through this Agreement, WTO Members have banned such subsidies provided to vessels involved in illegal, unreported, and unregulated (IUU) fishing, fishing of overfished stocks, and fishing in the unregulated high seas.

    IUU fishing accounts for approximately 20% of the world’s catch, depleting global fish stocks. Moreover, the FAO estimates that almost 38% of global fish stocks are overfished, and by some measures, the devastation is even higher. The AFS can help to reverse this significant and worsening loss of natural resources.

    However, the full potential of the Agreement will be realized only once it enters into force, which requires the acceptance of two-thirds (or 111) of WTO Members. To date, 90 Members have deposited their instruments of acceptance, bringing us within striking distance of our goal — we need just 21 more.

    I would like to sincerely thank the European Union for being among the first to accept the Agreement. In addition, generous contributions by the EU and its member States to the Fish Fund will support developing and least-developed Members with the implementation of the Agreement if they have deposited their acceptances. We are so close to entry into force but not quite there yet.  I strongly urge you to continue your leadership by encouraging and helping those who have not yet formally accepted the Agreement to do so as soon as possible. And for those here today from the IPU Steering Committee who have not deposited, please count on the WTO Secretariat to help you any way we can. We are aiming for the entry into force of the Agreement before the Third UN Ocean Conference (UNOC3), taking place in June in Nice, co-hosted by France and Costa Rica. The need to get this done is urgent, and we are counting on everyone to work to meet the goal.

    The second priority related to fisheries subsidies is concluding the second wave of negotiations on additional disciplines.

    At the WTO General Council meeting last December, it was clear that nearly all Members, with the exception of just a few, were ready to conclude the negotiations based on the most recent draft text circulated last November (TN/RL/W/285). While some Members have noted that the disciplines are not perfect, they still acknowledge the substantial value of the current package in curbing subsidies that contribute to overcapacity and overfishing. However, those Members that do not support the text have expressed fundamental differences.

    While no agreement is perfect and every Member may have aspects they wish to modify, it is in everyone’s interest to achieve an outcome. If Members fail to do so, the absence of disciplines on overcapacity and overfishing will mean continued deterioration of fish stocks for everyone. We are at a tipping point. 

    We remain committed to bringing this second wave of negotiations across the finish line and will continue to rely on the  constructive engagement of those present here today to make this a reality. Urgent action is needed for both economic and environmental sustainability.

    Dispute Settlement

    The second priority is reforming the WTO’s dispute settlement system to ensure that WTO rules remain meaningful for the benefit of all Members.

    At MC12 in 2022, WTO Members committed to having “a fully and well-functioning dispute settlement system accessible to all Members by 2024” and reiterated this objective at MC13 last year. This deadline has passed, and Members are currently working to establish a path forward. I wish to thank the European Union and others in this room for their constructive stance and continued engagement in the reform process.

    Following MC13, the reform of the DS system was formally advanced under the leadership of the Permanent Representative of Mauritius, who, together with six co-convenors at the expert level, worked to address outstanding issues. These included the topics of appeal/review, accessibility, and “works done thus far”. Since the departure of Mauritius’ Ambassador in last November, the General Council (GC) Chair continued to directly oversee the reform process, engaging with Members to gather perspectives on how to build upon the progress and further advance the reform.

    The reform process has already resulted in several draft texts different areas. Notably, Members have developed an advanced substantive draft on “Capacity Building” and “Technical Assistance”. This is crucial for enhancing the technical support we provide to developing Members. While Members made strides in the discussions surrounding appeal/review, this remains one of the more challenging aspects of the reform, and further efforts are needed to resolve the outstanding issues.

    I know that our Members are awaiting word from the United States as to its position. I remain hopeful that we will continue to make progress on this crucial work.

    In the meantime, the WTO continues to serve as the primary forum for resolving international trade disputes. Eight disputes are currently ongoing, along with eleven active consultations. We have also observed an increase in negotiated solutions among Members, with the panel process often serving as a catalyst for these agreements. The dispute settlement work at the WTO remains robust.

    Agriculture

    Third, it is vital that WTO Members make progress on agriculture.

    Agriculture is expected to be a central element on the MC14 agenda, especially because of its fundamental role in supporting food security and driving socio-economic development, particularly across the African continent. Consensus has remained out of reach as to the process and timeline for these negotiations. As the outgoing Chair of the negotiations outlined in his recent report (JOB/AG/265), rebuilding trust and setting credible targets is essential to progressively restoring an effective negotiating process and achieving an agricultural outcome in March 2025 in Yaoundé.

    Plurilateral initiatives

    The fourth priority is for Members to find a way to incorporate the results of plurilateral joint initiatives — the Investment Facilitation for Development (IFD) Agreement and the Agreement on E-commerce — into the WTO rulebook.

    These plurilateral initiatives represent the opportunity for like-minded Members to establish new and ambitious rules among themselves and break new ground within the WTO framework. They co-exist with the concept of multilateralism and do not reduce any WTO rights for non-participants.

    The IFD Agreement currently has 126 WTO Members as parties, including 90 developing and 27 LDC Members, as well as the EU. It aims to foster sustainable development by improving the investment climate through greater transparency and predictability and to facilitate investment flows, particularly to developing and LDC Members. The proponents of the Agreement seek to incorporate it into Annex IV of the WTO Agreement as a plurilateral agreement, with its benefits applied on an MFN basis to all WTO Members. Doing so requires consensus among our Members. However, a few Members have expressed opposition to its incorporation, citing systemic concerns and the impact on multilateralism. The proponents continue work to chart a path to integrate these important disciplines into the WTO rulebook.

    Ninety-one WTO Members, including the EU, have concluded negotiations on the text of the Agreement on Electronic Commerce and presented it to the General Council the day before yesterday for incorporation into the WTO rulebook. The Agreement aims at enabling electronic transactions and promoting digital trade facilitation, ensuring an open environment for digital trade, and promoting trust in e-commerce. It also has provisions on cooperation and development. As with IFD, a few Members oppose on systemic grounds.

    Multilateral work on e-commerce

    In terms of multilateral work on e-commerce, engagement continues under the multilateral Work Programme on Electronic Commerce, as outlined in the MC13 Decision, to be completed by MC14. In January, we held a Dedicated Discussion on bridging the digital divide, focusing on infrastructure, connectivity, and internet access. Another session in February will explore legal and regulatory frameworks, including consumer protection, privacy, and cybersecurity. These sessions aim to share national experiences, delve deeper into key themes, and reflect on actionable ideas. The goal is to identify concrete steps and recommendations for Ministers’ consideration at MC14.

    Another critical decision point is whether to extend the moratorium on the collection of duties on digital transmissions, set to expire on 31 March 2026 or at MC14, whichever comes first. In December, we convened a dedicated information session featuring input from the WTO Secretariat, IMF, UNCTAD, OECD, and South Centre. The session aimed to review existing studies on the moratorium’s impact, foster discussions on its scope and definition, and explore alternative taxation approaches. I encourage you to engage in an open dialogue and explore elements that could help establish a common ground to advance on this important issue.

    Development

    Each of these workstreams carries a strong development dimension, which remains a top priority for many of our Members, as developing countries make up two-thirds of our membership. Just a few weeks ago, WTO Members held a forward-looking retreat focused on leveraging trade as a tool for development and charting a path forward. We will build on this successful engagement in the lead up to MC14. 

    Geopolitical context

    Members of Parliaments, I would be remiss not to say anything about the current geopolitical situation and its impact on trade. We live in tumultuous times — times when trade measures and also countermeasures are announced and implemented within mere days, sometimes hours. The climate of uncertainty affects businesses that operate internationally and rely on supply chains spread across different corners of the world. Such volatility can disrupt economic stability, affect investment plans, and upset supply chains not only within Europe but across the globe.

    It is in times like these that a stable and predictable trading environment, anchored by the multilateral trading system and the World Trade Organization, is more necessary than ever. We were established and designed to promote transparency, stability, and predictability in global trade. Over the past 30 years, the WTO — which an entity composed of its Members — has been working diligently to uphold these principles, to secure a business environment that fosters growth and cooperation. The WTO continues to cover 80% of global trade, which remains unchanged despite recent developments. No single Member dominates the system — not even the United States, which accounts for 15.9% of global trade.

    Europe, with its commitment to open markets and a rules-based trading order, has been a cornerstone of the multilateral system and has long championed the cause of multilateralism and of a predictable trading environment.

    However, let us remember that the multilateral system cannot be taken for granted. Its strength and effectiveness is not automatic; it depends on you, its Members. Our estimates indicate that a collapse of the trading order could result in a staggering double-digit loss in global GDP. And even the mere presence of uncertainty chips away at our collective prosperity, eroding welfare bit by bit.

    That is why today, I appeal to you with an important reminder: the future of the multilateral trading system, and the WTO’s role as a guardian of security and predictability in global commerce, is in your hands.

    If you value the WTO, please help us deliver on the negotiating agenda I have just laid out.

    If you consider WTO rules inadequate or imperfect, I encourage you to collaborate with other Members to strengthen and improve them.

    If you think that your interests are being harmed by measures taken by other Members, I urge you to make full use of the WTO’s platform — whether through our committees, bilateral consultations, or the dispute settlement system — to address and resolve these issues constructively.

    And as you consider the application of your own trade measures, particularly in response to those taken by others, I urge you to remain level-headed and consider not just the immediate effects, but also the broader, long-term consequences, on consumers, industries, and the global trading system. And let us not forget the impact on developing countries — when elephants fight, the grass gets trampled. And that hurts the elephants too.

    In a time when trade is increasingly disrupted by unpredictable and destabilizing actions, your support is crucial in ensuring that the rules-based system we’ve worked so hard to build endures, ultimately benefiting all.  

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    MIL OSI Economics

  • MIL-OSI Economics: Verizon to speak at Barclays Symposium February 25

    Source: Verizon

    Headline: Verizon to speak at Barclays Symposium February 25

    NEW YORK –  Joe Russo, executive vice president and president of Global Networks and Technology (GN&T) at Verizon (NYSE, Nasdaq: VZ), is scheduled to speak at the Barclays Communications and Content Symposium on Tuesday, February 25, at 9:15 a.m. ET. His remarks will be webcast, with access instructions available on Verizon’s Investor Relations website, www.verizon.com/about/investors.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: National Workshop on Fast-Tracking and Reporting of Progress on Sustainable Development Goals (SDGs) under the State Support Mission (SSM) held in Bhubaneswar, Odisha

    Source: Government of India (2)

    Posted On: 20 FEB 2025 9:06PM by PIB Delhi

    The National Conference on Fast-Tracking and Reporting of Progress on Sustainable Development Goals (SDGs) under the State Support Mission (SSM), organized by NITI Aayog in partnership with the Government of Odisha and technical partners UNDP concluded in Bhubaneswar, Odisha today.

    The conference brought together senior government officials from 25 States and Union Territories, along with representatives from various Ministries of Government of India, UN agencies (UNDP, GIZ, UN-Habitat), academia (NIPFP, RIS), and CSOs. The workshop featured technical sessions on:  i) Strengthening SDG Localisation, ii) SDG Financing, and iii) Voluntary National Review (VNR) 2025.

    The inaugural session was graced by Sh. Suman K. Bery, Hon’ble Vice Chairman, NITI Aayog; Sh. B.V.R. Subrahmanyam, CEO, NITI Aayog; and Sh. Manoj Ahuja, Chief Secretary, Government of Odisha, other senior officers, representatives of UNDP and GIZ, and others participated in the workshop.

    Vice Chairman, NITI Aayog Shri Bery stressed the urgency of a data-driven, multi-stakeholder approach to bridge gaps, strengthen governance, and mobilize sustainable finance—ensuring that no one is left behind. CEO, NITI Aayog highlighted India’s landmark SDG progress, from significant poverty reduction to effective localization, and called on States and UTs to drive peer learning for collective impact. Sh. Manoj Ahuja, Chief Secretary, Government of Odisha also reiterated the importance of accurate data collection and visualization as cornerstones of good governance for SDG advancement. 

    This workshop highlighted the crucial role of SDG Coordination and Acceleration Centres in advancing sustainable development. These centres focus on developing accelerator plans, ensuring the convergence of schemes, leveraging data for informed decision-making, and addressing the SDG financing gap. Additionally, they emphasize strategic messaging that prioritizes key indicators at the local level. This workshop marks a significant step in reinforcing India’s commitment to Agenda 2030 through collaborative policymaking and dynamic state-level interventions. The National Conference on Accelerating Sustainable Development Goals is a vital component of NITI Aayog’s core mandate to foster cooperative federalism and provide a platform for the exchange of knowledge and best practices among States and Union Territories.

     

    ***

    MJPS/SR

    (Release ID: 2105144) Visitor Counter : 9

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Minister for Social Justice and Empowerment, Dr. Virendra Kumar, Distributes Sanitation Kits and Ayushman Cards under the NAMASTE Scheme to Sewer and Septic Tank Workers in Mumbai

    Source: Government of India

    Union Minister for Social Justice and Empowerment, Dr. Virendra Kumar, Distributes Sanitation Kits and Ayushman Cards under the NAMASTE Scheme to Sewer and Septic Tank Workers in Mumbai

    Waste pickers are also beneficiaries of NAMASTE Scheme, along with Sewer and Septic Tank Workers: Union Minister for Social Justice and Empowerment, Dr. Virendra Kumar

    NAMASTE Scheme aims to take Death Rate of Sewer and Septic Tank Workers to Zero by providing them Proper Training and safety Measures

    Profiling of more than 2400 Sewer and Septic Tank Workers done in Mumbai

    Posted On: 20 FEB 2025 6:16PM by PIB Mumbai

    : Mumbai, February 20, 2025

    Union Minister for Social Justice and Empowerment, Dr. Virendra Kumar distributed Sanitation Kits and Ayushman Health Cards to Safai Karamcharis under the Central Government’s National Action for Mechanized Sanitation Ecosystem (NAMASTE) Scheme, in Mumbai today. In addition, Sanction Letters for subsidized low rate loan for purchase of mechanized cleaning vehicles under Swachhta Udyami Yojana (SUY) were also distributed to some of the beneficiaries. The event witnessed the reaffirmation of Government’s commitment to the welfare of the underprivileged. This dedication to prioritizing the marginalized reflects the Government’s broader vision of Viksit Bharat where every individual has the opportunity to contribute to and benefit from India’s development journey.

    Speaking on the occasion, Union Minister Dr. Virendra Kumar informed that the NAMASTE Scheme, which is jointly implemented by the Ministry of Social Justice and Empowerment (MoSJE) and the Ministry of Housing and Urban Affairs (MoHUA) has an objective of ensuring dignity and safety of sanitation workers and empowering them socially and economically. This scheme aims to formalize and institutionalize the persons engaged in hazardous cleaning of sewers and septic tanks and also promote safe and mechanized cleaning through trained sanitation workers. On the occasion the Union Minister also informed that waste pickers are also included as beneficiaries in the NAMASTE Scheme, along with sewer and septic tank workers (SSWs) and their profiling has also started.     

    Dr. Kumar said that NAMASTE scheme aims to take down the death rate to zero by providing training to the sanitation workers or ‘swachhata senani’ of the country. In these training programmes, the engineers and related municipality workers will also take part so that the whole system becomes well-prepared. For this purpose, profiling of sanitation workers has started in all municipalities around the country, to ensure safe working conditions and providing them with PPE kits and other safety devices.

    Applauding the spirit of the swachhata workers, Dr. Virendra Kumar said that their hard work round the year keeps the citizenry free from diseases. Calling them the most important section of society, he said that it is our duty to ensure that the sanitation workers have a safe working environment. The Ministry of Social Justice and Empowerment is holding meetings with the Social Welfare Departments of all the states for this purpose. The Union Minister also urged the Brihanmumbai Municipal Corporation sanitation workers present on the occasion to inform their fellow colleagues in other regions of the country about the benefits to be yielded from the NAMASTE scheme.

    Dr. Ashwani Joshi, Additional Municipal Commissioner, BMC informed that 2485 Sewer and Septic Tank Workers have been profiled in Mumbai city and the benefits of NAMASTE scheme will be extended to them. The Prohibition of Employment as Manual Scavengers and their Rehabilitation Act, 2013 is followed in letter and spirit in Mumbai where cent percent sewer connectivity will be achieved by 2027, she further informed.   

    Shri Amit Yadav, Secretary, Ministry of Social Justice and Empowerment, informed that 65,060 SSWs have been profiled under the scheme and 32,734 of them have been provided with PPE kits, while 15,153 workers have been provided with Ayushman health cards till date.

    The National Safai Karmacharis Finance Development Corporation (NSKFDC) under the Ministry of Social Justice and Empowerment (MoSJE) is the implementing agency of ‘NAMASTE’.

    Dr. Harshdeep Kamble, Principal Secretary, Government of Maharashtra, Ms. Yogita Swaroop, Senior Economic Advisor, Ministry of Social Justice and Empowerment, Government of India, Shri Kiran Dighavkar, Dy. Municipal Commissioner, Mumbai, Shri Prabhat Kumar Singh, Managing Director, National Safai Karamcharis Finance and Development Corporation and Shri Lahuraj Mali, Managing Director, Mahatma Phule Backward Classes Development Corporation Limited, Mumbai were also present amongst the dignitaries.

     

    PIB Mumbai | Sriyanka/Priti

    Follow us on social media:  @PIBMumbai     /PIBMumbai     /pibmumbai   pibmumbai[at]gmail[dot]com

    (Release ID: 2105065) Visitor Counter : 57

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Minister Of Commerce & Industry Shri Piyush Goyal interacts with Industry Stakeholders and Associations at Auric, Chhatrapati Sambhaji Nagar, Maharashtra

    Source: Government of India

    Union Minister Of Commerce & Industry Shri Piyush Goyal interacts with Industry Stakeholders and Associations at Auric, Chhatrapati Sambhaji Nagar, Maharashtra

    Union Government is committed towards creating a conducive environment for business growth and innovation: Shri Piyush Goyal

    Maharashtra actively actively promoting investments across sectors, making it a favourable destination for businesses and investors: Shri Goyal

    Shri Piyush Goyal endorses setting up of skill & job centre in AURIC Hall in collaboration with industry stakeholders

    Union Minister undertakes aerial survey of upcoming Dighi Port Industrial Area

    Posted On: 20 FEB 2025 7:34PM by PIB Delhi

    Union Minister of Commerce & Industry, Shri Piyush Goyal, visited the Aurangabad Industrial City (AURIC) Shendra developed under the National Industrial Corridor Development Programme (NICDP)  on the auspicious occasion of Chhatrapati Shivaji Jayanti on February 19, 2025. He also visited various operational industries at AURIC Shendra viz. Coatall Films Pvt Ltd, Inox Air Products, and Umasons Auto Compo Pvt. and appreciated the efforts being made by these units to achieve the vision of Viksit Bharat.

    Highlighting AURIC’s global competitiveness, the Minister emphasized that Shendra-Bidkin Industrial Area stands as India’s premier large-scale greenfield industrial smart city, in terms of world-class infrastructure with plug-n-play infrastructure and futuristic urban planning with walk-to-work facilities. The Minister highlighted that 20 such Industrial Smart Cities are being developed by Govt of India under the NICDP which reaffirms the Modi government’s commitment to creating an advanced industrial ecosystem that caters to global investors and businesses.

    Recognizing the critical need for a dedicated skill development center in AURIC, the Minister endorsed the establishment of a Skill & Job Centre in collaboration with industry stakeholders. The Confederation of Indian Industry (CII) has been urged to take the lead in setting up this center, which will be strategically housed within 20,000 sq. ft. of office space at AURIC Hall.

    Shri Goyal appreciated Maharashtra for actively promoting investments across various sectors, making it a favourable destination for businesses and investors. Investors looking at Maharashtra can benefit from its proactive Government policies, strategic location, skilled workforce, and a strong Industrial base.

    Shri Goyal further emphasized the Government’s commitment towards fostering a robust Industrial ecosystem that supports innovation, sustainable growth, and global competitiveness. He highlighted the pivotal role of Industry stakeholders in achieving the nation’s ambitious Vision of a Developed Nation @ 2047.

    On the sidelines, the Minister Shri Piyush Goyal on 20th Feb 2025 also undertook an aerial survey of the upcoming Dighi Port Industrial Area (DPIA) under NICDP approved by GoI in Aug 2024 and nearby critical multimodal connectivity. The Minister was briefed on the advanced trunk infrastructure, integrated master planning, demand assessment, target sectors, and implementation timelines at DPIA by the officials. It was also highlighted that the project holds immense potential due to its strategic location on Mumbai-Goa Highway and proximity to Dighi Port. The Minister directed to create best-in-class infrastructure facilities for DPIA to create a benchmark for others to follow.

    The interaction witnessed the participation of more than 100 stakeholders, including representatives from CII, FICCI, ASSOCHAM, CMIA, MASSIA, MAGIC, Marathwada Auto Cluster, Deogiri Electronic Cluster, Laghu Udyog Bharti, and other distinguished industry associations. Their continuous support and collaboration play a vital role in shaping Maharashtra into a premier global business destination. The event also provided a platform for industrialists focused on Maharashtra to share their views, innovative suggestions and success stories.

    Officials from National Industrial Corridor Development Corporation (NICDC), Maharashtra Industrial Development Corporation (MIDC) and Maharashtra Industrial Township Limited (MITL) were also present during the event who were given necessary directions from the Hon’ble Minister for further facilitating Ease of Doing Business.

    About AURIC:

    Shendra and Bidkin Industrial Areas are being developed in two phases, covering 4,000 hectares (10,000 acres) to establish a modern industrial hub. Auric Smart City follows a balanced development model, with 60% of the land dedicated to industries and the remaining 40% allocated for commercial, residential, educational, and healthcare facilities. Essential infrastructure, including water supply, electricity, sewage systems, and high-speed internet, has been developed in Shendra (2,000 acres) and Bidkin Phase-1 (2,500 acres), with underground distribution reaching individual industrial plots. Notably, 42% of the water demand will be met through treated wastewater. The city is equipped with advanced SCADA systems, CCTV surveillance, air quality monitoring sensors, and traffic control mechanisms for effective governance. Additionally, the implementation of the e-Land Management system ensures a transparent process for industrial land allotment. With its electricity distribution license, Auric Smart City provides power at lower tariffs, enhancing its appeal to investors.

    About Dighi Port Industrial Area:

    The Dighi Port Industrial Area, spanning 6,056 acres across the Roha and Mangaon tehsils in Raigad district, is positioned as a key driver of industrial growth, leveraging its proximity to Mumbai and Pune. The project ensures seamless connectivity through major highways, including NH66 (Mumbai–Goa Highway), NH753F (Mangaon–Pune Highway), and Major State Highway 05, reinforcing its appeal for global and domestic investors.DPIA is strategically designed to accommodate key industries, including Engineering, Pharmaceuticals, Chemicals, Textiles, and Food & Beverages.

    ******

    Abhishek Dayal/Abhijith Narayanan

    (Release ID: 2105093) Visitor Counter : 35

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: HKETO Jakarta celebrates Year of Snake in Kuala Lumpur

    Source: Hong Kong Government special administrative region

    HKETO Jakarta celebrates Year of Snake in Kuala Lumpur
    HKETO Jakarta celebrates Year of Snake in Kuala Lumpur
    ******************************************************

         The Hong Kong Economic and Trade Office, Jakarta (HKETO Jakarta) hosted a Chinese New Year dinner in Kuala Lumpur, Malaysia, today (February 20) to celebrate the Year of the Snake. Some 400 guests from the local government, business, academic, cultural and media sectors attended the event.      In her welcome speech, the Director-General of the HKETO Jakarta, Miss Libera Cheng, said that Hong Kong and Malaysia share robust and mutually beneficial commercial ties, with both places being a top-10 trading partner of the other.  Bilateral trade in goods amounted to US$27 billion last year, marking a significant year-on-year growth of 13 per cent.      “We congratulate Malaysia on assuming chairmanship of the Association of Southeast Asian Nations (ASEAN) this year. Hong Kong echoes the themes of Malaysia’s chairmanship, and will support relevant projects that would drive ASEAN’s inclusivity and sustainability. With the adoption of the Procedures for Accession to the Regional Comprehensive Economic Partnership (RCEP) Agreement in September 2024, we will also continue to maintain close liaison with ASEAN countries including Malaysia to foster favourable conditions for Hong Kong’s early accession to the RCEP.”      Miss Cheng added that following the Chief Executive’s visit in July 2023 and the visits by the Chief Justice of the Court of Final Appeal and the President of the Legislative Council last year, Hong Kong and Malaysia have forged frequent and comprehensive high-level connections. The Secretary for Justice also led a delegation to promote Hong Kong’s legal services in Malaysia in September 2024, witnessing the signing of Memoranda of Understanding between arbitration and dispute resolution bodies of both places. She invited Malaysian enterprises to leverage Hong Kong’s advantages as a high value-added supply chain service centre, including the city’s top-notch professional services and well-established financial infrastructures, to deepen and expand their international business.      “On people-to-people ties, the performances by the Hong Kong Chinese Orchestra, Hong Kong Dance Company, Asian Youth Orchestra and other groups in Malaysia last year were well received by the local audience, showcasing our rich culture and outstanding arts talent. Looking ahead, we will bring our cultural exchanges with Malaysia to new heights in accordance with the Blueprint for Arts and Culture and Creative Industries Development promulgated in November 2024.”      Dignitaries attending the dinner included the Deputy Minister of Investment, Trade and Industry of Malaysia, Mr Liew Chin Tong; the Chinese Ambassador to Malaysia, Mr Ouyang Yujing; the Director of Malaysia of the Hong Kong Trade Development Council, Ms Hoh Jee Eng; the President of the Hong Kong-Malaysia Business Association, Dato’ Dixon Chew, and senior representatives from other major local business chambers.      The HKETO Jakarta will host its Chinese New Year celebration in Penang, Malaysia, next Tuesday (February 25).

     
    Ends/Thursday, February 20, 2025Issued at HKT 20:40

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: President von der Leyen at the CARICOM Leaders’ Summit to strengthen partnership between the European Union and the Caribbean

    Source: European Commission

    European Commission Press release Brussels, 20 Feb 2025 During the first-ever visit of a European Commission President to the Caribbean, European Commission President Ursula von der Leyen reaffirmed Europe’s commitment to deepening its relations and partnership with the region.

    At the invitation of Caribbean Community (CARICOM) Chair, Barbados Prime Minister Mia Mottley, President von der Leyen met the 15 leaders of the Caribbean Community during the 48th Regular Meeting of the CARICOM.  The visit aims at further strengthening the EU’s presence in the region and lay the groundwork for the EU-CELAC Summit, planned for later this year.  

    In a new era of harsh geostrategic competition, Europe stands for openness, partnership and outreach. The visit took place in the context of the Commission’s effort to build new partnerships and strengthen old ones, which includes recent agreements with Mercosur, Mexico and Malaysia.

    President von der Leyen said: “Europe and the Caribbean may be an ocean apart, but we are close allies. We share so many interests and values, including our mutual support for Ukraine. Europe stands with the Caribbean countries in the fight against climate change, protecting nature and biodiversity, strengthening trade, and boosting investments through Global Gateway. Europe wants to be a fair and trusted partner for all regions of the world that want to work with us.”

    President von der Leyen also discussed with Caribbean partners the situation in Haiti. She underlined the EU’s commitment to Haiti’s recovery and security and its support to CARICOM efforts in this regard. In this context, a package of €19.5 million EU support was announced during the visit. This new financial support will complement ongoing efforts to deliver essential services to Haitians as well as support the country’s macroeconomic stability.

    President von der Leyen highlighted the EU’s commitment to supporting Caribbean partners in fighting climate change and its devastating impact on the islands. As the leading provider of climate finance, the EU is determined to work together on innovative financing, while promoting private sector investments.

    At global level, the EU and the Caribbean are stepping up their energy partnership following the launch of the Global Energy Transition Forum by President von der Leyen in Davos last month. She welcomed the 8 countries (Barbados, Guyana, Grenada, Haiti, Jamaica, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Dominica)* that joined the forum during the summit, committing to action to meet the global targets of tripling renewable energy capacity and doubling energy efficiency by 2030.

    During the visit, President von der Leyen underscored the reliability of the EU as a trade and investment partner to the region working together on mutually beneficial projects. President von der Leyen launched several projects under Europe’s Global Gateway strategy on renewable energy, digital transformation, pharmaceutical production and economic resilience. The projects will invest in a stronger, greener and better connected Caribbean.

    Key Global Gateway projects in the Caribbean

    Expanding Renewable Energy: Global Gateway energy projects are underway in 13 Caribbean countries, leveraging European expertise, technology, and financing tools. In this context, President von der Leyen and Prime Minister Mottley announced a €160 million green hydrogen storage project by the French company HDF Energy, the first of its kind in the Caribbean.

    Advancing the Digital Agenda: The EU and the Caribbean are strengthening their digital partnership with the signing of a Memorandum of Understanding (MoU) between the Caribbean and the European satellite company Hispasat during the CARICOM meeting. It will improve the Caribbean’s satellite internet connectivity and sovereignty within the framework of the EU–LAC Digital Alliance. As part of this initiative, the EU and Spain will provide a €10 million grant to support satellite broadband expansion and promote digital inclusion across the region.

    Developing Local Pharmaceutical Production: The EU’s €8.9 million investment to promote local production and regulatory alignment with European standards was also taken forward in the framework of the CARICOM meeting. A joint declaration to cooperate on twinning Caribbean and EU regulatory agencies, capacity-building initiatives, and research collaborations was signed during the meeting. Additionally, the first investment from a European pharmaceutical company, Biomed X in Barbados, will support research and manufacturing, further reinforcing the region’s health resilience.

    Supporting Post-Hurricane Reconstruction: As part of the assistance given to Grenada in rebuilding Carriacou and Petite Martinique after Hurricane Beryl, the EU is supporting the islands to become 100% powered by renewable energy. This initiative will serve as a global model for small islands striving for climate resilience.

    Combating the Sargassum Challenge: The EU, in collaboration with regional partners, is transforming the environmental and economic challenge of sargassum seaweed into an opportunity for sustainable development. Through an ongoing €386 million Global Gateway initiative, the EU is working with financial institutions such as the European Investment Bank and the private sector to develop sustainable value chains for sargassum, particularly in Grenada.

    For More Information

    Opening remarks by President von der Leyen at the opening ceremony of the 48th Regular Session of the Conference of CARICOM

    Statement by President von der Leyen at the joint press conference with Barbadian Prime Minister Mottley

    * Updated on 20/02/2025 at 14:55

     Europe and the Caribbean may be an ocean apart, but we are close allies. We share so many interests and values, including our mutual support for Ukraine. Europe stands with the Caribbean countries in the fight against climate change, protecting nature and biodiversity, strengthening trade, and boosting investments through Global Gateway. Europe wants to be a fair and trusted partner for all regions of the world that want to work with us.

    Ursula von der Leyen, President of the European Commission

    MIL OSI Europe News

  • MIL-OSI Europe: EIB supports Bratislava in modernizing its water supply and wastewater management infrastructure

    Source: European Investment Bank

    • Investments ensures safe and reliable water supply and wastewater management, addressing climate change challenges, while also improving the protection of the Danube
    • EIB financing will improve efficiency of city’s water company Bratislavská vodárenská spoločnosť (BVS) by reducing its energy costs with further utilization of green fuel sources.
    • This is the first direct cooperation between EIB and a municipal company in Bratislava to boost investments in the water sector.

    European Investment Bank (EIB), one of the world’s largest multilateral investors in the water sector, is providing EUR 50 million in Bratislava municipal water utility company Bratislavská vodárenská spoločnosť (BVS) for necessary upgrades and extensions of its water supply and wastewater infrastructure. The financing will help aligning Bratislava water and wastewater management with EU regulations, ensuring the highest quality of drinking water in the city and also allow the BVS to increase utilization of green, biomass energy sources. 

    The modernization programme aims to increase the reliability of water supply for nearly half a million residents and businesses in Bratislava, Slovakia`s main business hub. It also fosters environmental responsibility, by making the city more resilient to adverse effects of climate change and allows BVS to further increase its efficiency and reduce its energy costs.

    “EIB cooperation with BVS means people and businesses in Bratislava can look forward to cleaner water, efficient wastewater management and eco-friendly practices that enhance the city’s quality of life,” said EIB Vice-President Kyriacos Kakouris. “Modern water management is crucial to ensuring the strength and sustainability of urban centres across the EU including Bratislava.”

    “The cooperation approval followed thorough preparation and extensive communication with the EIB. This financing is significantly more cost-effective for us compared to commercial banks. This partnership with BVS is expected to play a crucial role in achieving our ambitious goals of improving our customer services and supporting the environment in our operational area,” said CEO of BVS Ladislav Kizak.
     

    A modern water and wastewater infrastructure for Bratislava

    The modernization project financed by EIB will include the replacement of aging infrastructure with advanced, efficient technologies designed to minimize water loss and improve distribution efficiency as well as expansion of the BVS` network to accommodate the needs from the steadily expanding city.  Expansion of the water supply network will also increase protection of surface and underground waters in metropolitan Bratislava as well as improve protection of the Danube.

    Additionally, the adoption of biomass energy sources will significantly reduce the utility’s carbon footprint, aligning with the city’s commitment to climate action.

    Background information 

    European Investment Bank: The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

    The EIB is one of the largest lenders to the global water sector, with over €88 billion invested in more than 1 700 projects improving sanitation, providing access to safe drinking water and reducing the risk of flooding.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. 

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. 

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers

    Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    Bratislavská vodárenská spoločnosť (BVS): Bratislavská vodárenská spoločnosť, a.s. (BVS) supplies drinking water to approximately 740 000 regular customers in 118 municipalities across western Slovakia. It draws water primarily from exceptionally high-quality underground sources. Thanks to its advantageous location near the Danube River and the unique gravel-sand subsoil, these water sources are both high-quality and abundant. The 60 water sources that BVS currently operates could technically cover the consumption of more than half of Slovakia. The network of more than 3 200 kilometers of water pipes transports water in 130 water reservoirs and to its customers.

    The second key task of BVS is disposing of wastewater in municipalities connected to the public sewage network. For this purpose, more than 1 800 kilometers of sewer pipes are used, which transport wastewater to 23 wastewater treatment plants. One is the Central Wastewater Treatment Plant in Vrakuňa, the most significant Slovak wastewater treatment plant, with a capacity of 172 800 m3 per day, or 2 000 l per second.

    BVS controls the quality of drinking and treated wastewater in its accredited laboratories.

    BVS’s shares are owned by 89 shareholders, that are cities and municipalities from the region where BVS operates. The City of Bratislava is the majority shareholder, with a share of 59,29 percent. BVS itself holds more than 8 percent of its shares.

    MIL OSI Europe News

  • MIL-OSI Security: Dartmouth — RCMP Halifax Regional Detachment seizes loaded handgun

    Source: Royal Canadian Mounted Police

    RCMP Halifax Regional Detachment (HRD) Street Crime Enforcement Unit has charged a man with multiple firearms offences following the execution of a search warrant in Dartmouth.

    Yesterday afternoon, in relation to an ongoing investigation, RCMP officers, with the assistance of the HRD Community Action Response Team and the Halifax Regional Police Emergency Response Team, safely arrested a 35-year-old man outside a Main St. business.

    Investigators then executed a search warrant at a residence on Garnett St., where they seized a loaded handgun.

    Jarrem Gallant, of Toronto and formerly of Dartmouth, has been charged with:

    • Careless Use of a Firearm
    • Contravention of Storage Regulations
    • Possession of a Weapon for a Dangerous Purpose
    • Unauthorized Possession of a Firearm
    • Unauthorized Possession of a Prohibited Device (Over Capacity Magazine)
    • Possession of a Firearm Knowing its Possession is Unauthorized
    • Possession of a Prohibited Device Knowing its Possession is Unauthorized (Over Capacity Magazine)
    • Possession of a Prohibited or Restricted Firearm with Ammunition
    • Possession of a Firearm Obtained by the Commission of an Offence
    • Possession Contrary to Firearm Prohibition Order (four counts)

    Gallant was held in custody and is scheduled to appear in Dartmouth Provincial Court today.

    The investigation is continuing with the assistance of the National Weapons Enforcement Support Team – Eastern Region.

    Anyone with information about illegal firearms or other criminal activity in the Halifax Regional Municipality is encouraged to contact police at 902-490-5020. To remain anonymous, call Nova Scotia Crime Stoppers, toll-free, at 1-800-222-TIPS (8477), submit a secure web tip at www.crimestoppers.ns.ca, or use the P3 Tips app.

    File: 25-21778

    MIL Security OSI