NewzIntel.com

    • Checkout Page
    • Contact Us
    • Default Redirect Page
    • Frontpage
    • Home-2
    • Home-3
    • Lost Password
    • Member Login
    • Member LogOut
    • Member TOS Page
    • My Account
    • NewzIntel Alert Control-Panel
    • NewzIntel Latest Reports
    • Post Views Counter
    • Privacy Policy
    • Public Individual Page
    • Register
    • Subscription Plan
    • Thank You Page

Category: Finance

  • MIL-OSI: Banco Santander-Chile Announces Fourth Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, Jan. 31, 2025 (GLOBE NEWSWIRE) — Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its results1 for the twelve-month period ended December 31, 2024, and fourth quarter 2024 (4Q24).

    Strong Financial Performance with ROAE2of 26.0% in 4Q243and 20.2% in 12M244.

    As of December 31, 2024, the Bank’s net income attributable to shareholders totaled $858 billion ($4.55 per share and US$1.83 per ADR), marking a 72.8% increase compared to the same period of the previous year and with an ROAE of 20.2%.

    In 4Q24, net income attributable to shareholders of the Bank totaled $277 billion, increasing 13.7% in the quarter with a quarterly ROAE of 26.0%. This marks the third consecutive quarter with an ROAE above 20%.

    The improvement in results is explained by an increase in the Bank’s main revenue lines. Operating income increased by 34.5% YoY, supported by a stronger interest margin and readjustments.

    Robust NIM5recovery, reaching 3.6% in 2024 and 4.2% in 4Q24.

    Net interest and readjustment income (NII) for the year ended December 31, 2024 increased by 62.1% compared to the same period in 2023. This growth was primarily due to higher net interest income, resulting from a lower monetary policy rate that reduced our funding costs from 6.8% to 4.7% in 12M24. This was partially offset by lower readjustment income due to a smaller variation in the UF compared to the previous year. Consequently, the NIM improved from 2.2% in 2023 to 3.6% in 2024, and further to 4.2% in 4Q24.

    Continued Expansion of Customer Base with a 6.4% YoY Increase in Total Customers and a 5.9% YoY Increase in Digital Customers

    Our strategy to enhance digital products has led to a continued growth in our customer base reaching approximately 4.3 million customers, with over 2.2 million digital customers (88% of our active customers).

    The Bank’s market share in current accounts remains robust at 23.2% as of October 2024, driven by increased customer demand for US dollar current accounts which can be easily opened digitally by our customers. It also demonstrates the success of Getnet’s strategy in encouraging cross-selling of other products such as the Cuenta Pyme Life.

    Customer funds increased 4.7% QoQ and 12.6% since December 2023.

    Customer funds (demand deposits, time deposits and mutual funds) increased by 4.7% QoQ and 12.6% from December 2023, reflecting client growth and fund accumulation. The Bank’s total deposits increased by 5.7% from December 31, 2023, explained by the 5.3% increase in demand deposits and the 6.0% increase in time deposits. In the quarter, total deposits grew by 5.9%, with demand deposits up by 8.7% and time deposits by 3.7%. The strong growth in the quarter is explained by the seasonality of deposits at the end of the year, especially among corporate clients.

    Our customer’s investments through mutual funds intermediated by the Bank also grew in the quarter, reaching an increase of 2.2% QoQ and 32.6% since December 31, 2023, given the clients’ preference for mutual funds in this scenario of falling rates.

    Net fees and commissions increase 8.8% in 12M24, achieving a recurrence6level of 60.3%.

    Net fees increased 8.8% in the twelve months ended December 31, 2024 compared to the same period in 2023 due to increased client numbers and higher product usage. As a result, the recurrence ratio (total net fees divided by structural support expenses) increased from 57.4% YTD as of December 2023 to 60.3% YTD as of December 2024, demonstrating that more than half of the Bank’s expenses are financed by fees generated by our clients.

    Efficiency ratio of 36.5% in 4Q24 and 39.0% in 4Q24

    The Bank’s efficiency ratio reached 39.0% as of December 31, 2024, compared to the 46.6% of the same period last year, with a quarterly efficiency ratio of 36.5%. On the other hand, the cost to assets ratio increased to 1.5% in 12M24 vs. 1.3% in the same period of the previous year.

    Structural support expenses (salaries, administration and amortization) grew 3.5% in 12M24 compared to 12M23, below inflation, and in line with the guidance provided previously and a slight decrease of 1.8% compared to 3Q24 mainly due to lower salary expenses.

    Total operating expenses (which includes other expenses) increased 12.4% in 12M24 compared to 12M23 driven by higher other operating expenses, related to a provision for the restructuring of our branch network and the transformation to Work/Café and also advances in digital banking.

    Cost of credit of 1.29% in 12M24, and NPL coverage at 115.4%

    During the Covid-19 pandemic, asset quality benefited from state aid and pension fund withdrawals, which led to a positive performance in assets during that period, before normalizing in line with the performance of the economy and the drainage of excess liquidity from households. Currently, our clients’ performance is reflecting the state of the economy and the labor market, where delinquency is higher than the levels we saw before the pandemic with the non-performing loans (NPL) ratio increasing to 3.2% and the impaired portfolio to 6.7% at December 2024. Overall the cost of credit remained stable at 1.29% in the quarter.

    Solid capital levels with a BIS7ratio of 17.1% and a CET18of 10.5%.

    Our CET1 (Common Equity Tier 1) ratio remains at solid levels of 10.5% and the total Basel III ratio reaches 17.1% at the end of December 2024, which includes a provision of dividend payment of 70% of 2024 earnings.

    We made significant progress in our Chile First strategy in 2024

    • Largest bank in terms of loans and deposits (16.9% market share according to latest information from the CMF).
    • More than US$ 450 million committed to invest in infrastructure and technology between 2023 and 2026.
    • A total of 99 Workcafés in Chile, serving our clients and the community in their different formats.
    • Recognized by Euromoney as the Best Bank in the Country in the SME and ESG Categories.
    • The only Chilean bank included in the DJSI emerging markets and within the top 3% of the most sustainable banks in the world.
    • Top Employer Certification January 2025 (seventh consecutive year).
    • Recognized as the Best Bank in Chile for SMEs by Global Finance.
    • ALAS20: First place in the category of leading company in sustainability.
    • Institutional Investor: “Most Honored Company.”

    Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody’s, A- from Standard and Poor’s, A+ from Japan Credit Rating Agency, AA- from HR Ratings and A from KBRA. All our ratings as of the date of this report have a stable outlook.

    As of December 31, 2024, the Bank has total assets of $68,458,933 million (US$68,865 million), total gross loans (including loans to banks) at amortized cost of $41,323,844 million (US$41,569 million), total deposits of $31,359,234 million (US$31,545 million) and shareholders’ equity of $4,292,440 million (US$4,318 million). The BIS capital ratio was 17.1%, with a core capital ratio of 10.5%. As of December 31, 2024, Santander Chile employs 8,757 people and has 236 branches throughout Chile.

    CONTACT INFORMATION
    Cristian Vicuña
    Chief Strategy Officer and Head of Investor Relations
    Banco Santander Chile
    Bandera 140, Floor 20
    Santiago, Chile
    Email: irelations@santander.cl Website: www.santander.cl


    1 The information contained in this report is presented in accordance with Chilean Bank GAAP as defined by the Financial Markets Commission (FMC).
    2 Annualized net income attributable to shareholders of the Bank divided by the average equity attributable to equity holders
    3 The fourth quarter of 2024
    4 The twelve months accumulated as of December31, 2024
    5 NIM: Net interest margin. Annualized net interest income and annualized readjustments divided by interest-earning assets
    6Recurrence: Net commissions divided by structural operating expenses (excludes other operating expenses).
    7 Regulatory capital divided by risk-weighted assets, according to CMF BIS III definitions
    8 Core capital divided by risk-weighted assets, according to CMF BIS III definitions.

    The MIL Network –

    February 1, 2025
  • MIL-OSI: Speakers at Biz2X Frontiers of Digital Finance Conference Kick Off 2025 and Predict What’s Next in Fintech and Business Finance

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK and MIAMI, Jan. 31, 2025 (GLOBE NEWSWIRE) — The Biz2X 2025 Frontiers of Digital Finance (FDF) Conference at University of Miami’s Business School, held on January 14, brought together top global leaders in technology, business and government to examine the rapidly changing digital finance landscape, particularly AI’s transformative impact on small business lending. For video highlights, click here.

    FDF assembled a ‘Who’s Who’ of digital finance experts who delved into major issues, such as potential changes in regulation in the new Trump administration, increased use of AI in lending, and the rise of alternative lenders. Speakers from over 25 organizations were represented, in an invite-only audience of more than 200 delegates. Among the A-List speakers were:

    • Former Congressman Patrick McHenry, who served as Chair of the House Financial Services Committee for the past two years. His keynote address, The Future of Fintech Regulation, drew upon his more than two-decades in Congress. The session was moderated by Charlie Gasparino of Fox Business News.
    • USAA President & CEO Wayne Peacock spoke about Leadership in Fintech in The Next Decade. Under Peacock’s visionary leadership, USAA has become a household name. At FDF, he shared insights from his expertise in mission-driven leadership to navigate the evolving financial services landscape.
    • Jim Esposito, President of Citadel Securities, led a discussion entitled Building the Future: Technology in Financial Markets in which he shared his insights for driving long-term growth and building global client and partner relationships.
    • Miami Mayor Francis X. Suarez examined Where Innovation Meets Opportunity – A Legal and Economic Vision, together with legendary litigator Marc Kasowitz from Kasowitz Benson Torres. They shared their perspectives on the legal and economic forces shaping today’s business landscape, and Mayor Suarez explored how cities like Miami can become innovation hubs for the private sector.

    BCG & Biz2X Launch New SMB Finance White Paper at FDF Miami

    Biz2X partnered with Boston Consulting Group (BCG), one of the world’s top business consulting firms, to unveil a brand-new proprietary white paper entitled, The Forthcoming Revolution in Small Business Lending.

    The study examines the rapidly changing dynamics of small business lending. Biz2X and BCG analyzed the reasons why banks — particularly the country’s largest institutions — place limitations on lending to small and medium-sized businesses. BCG identifies a global small business funding gap that exceeds $5 trillion.

    Biz2X and BCG conclude that SMB lending must be fundamentally altered through technology such as digital lending platforms to achieve lower risk, broader access to capital, and a significantly-improved digital experience for both borrowers and lenders. To download the full report, click here.

    Looking Ahead to Future FDF Conferences

    “FDF Miami 2025 was the highest-attended conference yet in our continuing series of these events. Our goal with FDF is to create a platform that drives the finance industry forward by bringing together the right people from all sides of industry and policy,” said Conference Chair and the CEO & Co-Founder of Biz2X, Rohit Arora.

    Future editions of FDF in 2025 are being planned in Riyadh and Mumbai, along with a likely return to Miami, with dates to be announced. For more information about FDF sponsors, speakers, and to see exclusive content from FDF Miami and previous FDF events, visit frontiersofdigitalfinance.com.

    About Frontiers of Digital Finance (FDF)
    FDF is an invitation only, global conference series that assembles global experts in the field. These include top financial institutions, innovative startups, investors, policy makers, technologists, and other leaders to learn about trends in digital finance and build relationships with key executives in the fintech industry.

    Attendees gain valuable insights from distinguished speakers and forge meaningful connections with key industry executives through curated networking events. Previous conferences have been held in some of the world’s most dynamic financial hubs: Dubai, Riyadh, Abu Dhabi, Mumbai, New York (at Columbia Business School) and Miami. Visit frontiersofdigitalfinance.com and LinkedIn for more information and highlights from the conferences.

    About Biz2X 
    Biz2X® is the digital lending platform chosen by successful business lenders, with more than $10 billion funded globally to businesses through the company’s innovative technology. The platform has been chosen for business lending at banks and financial institutions around the world. Lenders choose the platform because they want to transform their lending practices digitally. Biz2X makes this possible through best-in-class technology and AI-powered underwriting models. Biz2X LLC is a subsidiary of Biz2Credit. Visit Biz2X.com for more information.

    Contact: John Mooney, Over The Moon PR, 908-720-6057, john@overthemoonpr.com

    The MIL Network –

    February 1, 2025
  • MIL-OSI Economics: Efficiency, resilience and digital horizons: perspectives and challenges for the public sector | Keynote statement at the Digital Excellence Forum

    Source: Bundesbank

    Check against delivery.

    1 Introduction

    Against the backdrop of a changing geopolitical environment, the relevance of digital advances and innovations has further increased. 

    I have just returned from a discussion among policy makers and researchers in Washington D.C., and many of the exchanges touched on the economic outlook in a potentially more fragmented world economy. 

    For both reasons, I am delighted to be part of this conference about digital excellence here in Berchtesgaden. 

    Representing the Bundesbank on this panel, I would like to contribute three considerations from a public sector perspective.

    While there is a lot of discussion about digitalisation in Germany and the need to catch up in particular in the public sector, there are encouraging examples. The Bundesbank is at the forefront of public sector digitalisation: it is using artificial intelligence in multiple ways and is among the first public institutions to move seriously into the public cloud. 

    International financial architecture, markets and instruments are changing due to ongoing economic fragmentation and technological advances. Working on the digital euro is a way for the European Central Bank System to prepare for those changes and to take an active role. 

    Given the geopolitical environment and growing cyber risks, the Bundesbank is investing in its cyber resilience, including the setting up of a new governance model for IT security.

    Allow me to expand on that.

    2 Innovation

    The Bundesbank is breaking new ground by proactively using the public cloud. This is a significant step forward for a public sector institution. As a first step, our innovative, high-performance and secure eBusiness portal for our currently over 180,000 customers – NExt – went “live” in the cloud. Customers are banks, insurances, corporates or other public sector institutions.

    At the same time, we built up a Bundesbank-owned private cloud in our computer centres for particularly sensitive data. Through our hybrid cloud strategy and investments in technological trends like artificial intelligence, we are ensuring our readiness for the challenges of today and tomorrow.

    Artificial intelligence will help us to expand our economic analyses and improve our understanding of the effects of various policy measures on inflation, employment and economic growth. 

    It also plays a pivotal role in our risk analysis efforts. 

    Take, for example, the risk controlling function and its analysis related to the many counterparties with whom the Bundesbank conducts financial transactions or purchases securities. By combining diverse sets of data and information, artificial intelligence helps us identify potential financial difficulties of a counterparty at an early stage. Given the sheer volume and complexity of the data involved, collecting and evaluating this information manually would be nearly impossible. 

    Through the strategic application of artificial intelligence, we can detect risks more quickly and with greater precision, allowing us to take timely and informed action. 

    We are also using an artificial intelligence platform that allows access to the latest language models in a secure environment. It is a chatbot that works in a very similar way to ChatGPT – only ours has different requirements, for example in terms of data governance. The requests are neither stored in the cloud nor used for training purposes.

    3 Future of Finance

    The international financial architecture, markets and instruments are currently changing due to ongoing economic fragmentation and technological advances. 

    Against this backdrop, there are several reasons in favour of the digital euro.

    The first reason is related to autonomy and sovereignty. So far, there is no sovereign pan-European solution for payment in the digital space. As a result, there is a risk that Europe will become overly dependent on US providers for critical infrastructure. A digital version of the euro renders the currency more attractive as means of payment internationally and will facilitate a start-up ecosystem around it.

    Another reason is related to efficiency. We are seeing very strong fragmentation in the European payment market and increasing concentration through international card systems that are all US–based. The digital euro establishes standards that simplify competition.

    Lastly, we also have to consider resilience. With the digital euro, we are safeguarding ourselves against competing currencies and stablecoins. The digital euro would be the next step in the development of the euro and would bring central bank money into the digital age.

    The Bundesbank is a key player in the development of a digital euro thanks, amongst other things, to its IT expertise in payment systems and in the area of tech trends. 

    4 Cybersecurity

    Cybersecurity is a decisive factor for the stability of the global economy and the functioning of our modern society. Operators of critical infrastructure, such as the Bundesbank, are under growing pressure from targeted cyber attacks.

    Of course, the Bundesbank, too, is subject to the most common types of attacks like phishing or denial of service attacks. To give you an example: on average, we receive a phishing attack every 5 minutes. 

    That’s why the principle “Secure by Design” is of crucial importance from the very beginning when developing and operating IT solutions and services.

    The Bundesbank has just rolled out a new governance model for IT security in order to create the basis for effectively counteracting growing threats. 

    Concretely, we are appointing a designated “security architect” in each Bundesbank department who serves as the go-to person for all architecture-related security concerns. The security architect will support product owners and agile teams in implementing security processes and regularly evaluating the impact of security-relevant information.

    This role is complemented by “security champions” within each product team. These champions will help maintain the required level of information security throughout the entire product lifecycle, including regular checks for new vulnerabilities.

    The governance model includes not only dedicated roles and responsibilities but also professional development and training measures for all staff in order to sensitise them to the fact that IT security is a critical discipline for everyone.

    5 Conclusion

    To conclude: By keeping up with technological developments, playing an active role in providing future forms of payment and of course safeguarding our security, the Bundesbank contributes to the competiveness of the German and European economy. 

    This is more relevant than ever in the current geopolitical context. 

    That’s why I’m thrilled to participate in this excellent conference and exchange.

    MIL OSI Economics –

    February 1, 2025
  • MIL-OSI NGOs: Myanmar: Four years after coup, world must demand accountability for atrocity crimes

    Source: Amnesty International –

    The international community must take urgent action to ensure accountability for atrocities in Myanmar, 46 organizations said today ahead of the four-year anniversary of the 1 February 2021 military coup.

    This year represents a turning point for accountability in Myanmar. While the military remains in control, they are losing ground in many areas. Amid rapidly evolving patterns of hostilities and changing political dynamics, renewed efforts must push for justice and ensure a future built on a lasting culture of respect for human rights.

    Since the 2021 coup, Myanmar’s military junta has killed more than 6,000 people, arbitrarily detained more than 20,000, and renewed judicial executions. More than 3.5 million people are internally displaced. Human rights groups have documented the military’s torture and other ill-treatment of detainees, indiscriminate attacks, and the denial of humanitarian aid, which may amount to crimes against humanity and war crimes.

    Myanmar’s military junta has carried out widespread and systematic attacks against the civilian population nationwide, bombing schools, hospitals, and religious buildings with total impunity. Armed groups fighting the military have also committed human rights violations. While some have pledged to hold perpetrators accountable, it remains to be seen whether these efforts are genuine and can meet international standards.

    Last year, 2024, also marked the worst year of violence against the Rohingya community since 2017, with men, women, and children dying in bombings while being trapped in the middle of the armed conflict between the Myanmar military and the armed group the Arakan Army in Rakhine State.

    At the same time, Myanmar’s military has lost an unprecedented amount of territory across the country to a loose coalition of ethnic armed groups, which have captured two regional commands, high-ranking military officers, dozens of towns, and border crossings. These groups have also been implicated in human rights abuses.

    In areas controlled by ethnic armed groups or overseen by the National Unity Government—formed by democratically elected lawmakers and officials ousted in the 2021 coup—local structures of governance and civil society are emerging. These include schools, hospitals, administrative offices, prisons, police stations, and courts.

    Our undersigned organizations call on all parties to the armed conflict in Myanmar to comply with international humanitarian law and engage with international justice mechanisms, including the Independent Investigative Mechanism for Myanmar. All countries, including regional actors in ASEAN and neighbouring states, must increase pressure on the junta by blocking arms shipments, suspending aviation fuel shipments and supporting international justice mechanisms, including by prosecuting or extraditing any suspected perpetrators. ASEAN must move beyond its failed Five-Point Consensus and take decisive action to hold the junta accountable. We also urge the international community to commit to a coordinated, long-term international justice strategy.

    Globally, some highly anticipated international justice efforts are moving forward. In November 2024, the International Criminal Court’s (ICC) Office of the Prosecutor requested an arrest warrant for Myanmar’s Senior General Min Aung Hlaing for the crimes against humanity of deportation and persecution of the Rohingya committed in Myanmar and in part in Bangladesh between August and December 2017. Requests targeting other senior military officials are expected.

    If these requests are granted, authorities in ICC member states must urgently comply with an arrest warrant for a suspect present within their jurisdiction and hand the person over to the ICC to face their accusers in a fair trial for alleged crimes under international law. The international community must deny safe haven to those accused of serious crimes by ensuring their immediate arrest and transfer to the ICC. The world must not allow perpetrators to evade international justice.

    While the present arrest warrant request is a welcome step, it remains limited in scope, location, and time and does not cover any alleged crimes after the 2021 coup. The ICC Prosecutor should demonstrate further progress in his investigation, including considering crimes under international law committed after 2017 and in the four years since the coup. The UN Security Council and Member States of the ICC must refer the full situation in all of Myanmar to the ICC to ensure justice for all victims.

    Governments, donors, and international agencies should support and pursue a wide variety of accountability efforts, including universal jurisdiction,and the potential creation of ‘hybrid’ or similar tailored justice mechanisms. The international community must also impose a global arms embargo, suspend jet fuel exports, and engage with all relevant national stakeholders, including civil society and those most affected by crimes.

    The UN Human Rights Council resolution from April 2024 stressed the need for “close and timely cooperation” between the Independent Investigative Mechanism for Myanmar, a body established by the UN Human Rights Council to collect and preserve evidence of atrocity crimes in Myanmar for future prosecutions, and “any future investigations or proceedings by national, regional or international courts or tribunals, including by the International Criminal Court or the International Court of Justice.”

    It also requested the UN High Commissioner for Human Rights to maintain a focus on accountability regarding international human rights law, international humanitarian law, and the rule of law and submit a future report on ways to “fulfil the aspirations of the people of Myanmar for human rights protection, accountability, democracy, and a civilian government.”

    Myanmar will be discussed at the upcoming UN Human Rights Council session from 24 February to 4 April 2025. UN member states must use this opportunity to take a bold and innovative approach on Myanmar and adopt a resolution aimed at breaking the cycle of impunity for atrocity crimes. The international community must also amplify the voices of survivors, activists and the people of Myanmar who continue to resist oppression at great personal risk.

    Myanmar’s human rights crisis did not begin with the coup. Decades of oppression have led to this moment. Ending impunity requires bold and adapted solutions and long-term political and financial commitment. The world must act now.

    —

    1. #Sisters2Sisters
    2. Ah Nah Podcast – Conversations with Myanmar
    3. Amnesty International
    4. Arakan Rohingya National Organisation
    5. Arakan Rohingya National Union
    6. Assistance Association for Myanmar-based Independent Journalists
    7. Athan – Freedom of Expression Activist Organization
    8. Blood Money Campaign
    9. Burma Action Ireland
    10. Burma Campaign UK
    11. Burma Civil War Museum
    12. Burma Human Rights Network
    13. Burma War Crimes Investigation
    14. Burmese Rohingya Organisation UK
    15. CAN-Myanmar
    16. Center for Ah Nyar Studies
    17. Chin Human Rights Organization
    18. Community Rebuilding Center
    19. Defend Myanmar Democracy
    20. EarthRights International
    21. Fortify Rights
    22. Free Rohingya Coalition 
    23. Global Myanmar Spring Revolution
    24. Human Rights Foundation of Monland
    25. Independent Myanmar Journalists Association
    26. Kaladan Press Network
    27. Karen Human Rights Group
    28. Karenni Human Rights Group
    29. Mayu Region Human Rights Documentation Center
    30. Mother’s Embrace
    31. Myanmar Ethnic Rohingya Human Rights Organization in Malaysia
    32. New Myanmar Foundation
    33. Odhikar
    34. Progressive Muslim Youth Association
    35. Political Prisoners Network – Myanmar
    36. Refugee Women for Peace and Justice
    37. Refugees International
    38. Rohingya Human Rights Initiative
    39. Rohingya Student League
    40. Rohingya Student Network
    41. Rohingya Student Union
    42. Rohingya Youth for Legal Action
    43. RW Welfare Society
    44. Sitt Nyein Pann Foundation
    45. Women Organization of Political Prisoners
    46. Youth Congress Rohingya
       

    MIL OSI NGO –

    February 1, 2025
  • MIL-OSI Submissions: Myanmar: Four years after coup, world must demand accountability for atrocity crimes

    Source: Amnesty International

    The international community must take urgent action to ensure accountability for atrocities in Myanmar, 46 organizations said today ahead of the four-year anniversary of the 1 February 2021 military coup.

    This year represents a turning point for accountability in Myanmar. While the military remains in control, they are losing ground in many areas. Amid rapidly evolving patterns of hostilities and changing political dynamics, renewed efforts must push for justice and ensure a future built on a lasting culture of respect for human rights.

    Since the 2021 coup, Myanmar’s military junta has killed more than 6,000 people, arbitrarily detained more than 20,000, and renewed judicial executions. More than 3.5 million people are internally displaced. Human rights groups have documented the military’s torture and other ill-treatment of detainees, indiscriminate attacks, and the denial of humanitarian aid, which may amount to crimes against humanity and war crimes.

    Myanmar’s military junta has carried out widespread and systematic attacks against the civilian population nationwide, bombing schools, hospitals, and religious buildings with total impunity. Armed groups fighting the military have also committed human rights violations. While some have pledged to hold perpetrators accountable, it remains to be seen whether these efforts are genuine and can meet international standards.

    Last year, 2024, also marked the worst year of violence against the Rohingya community since 2017, with men, women, and children dying in bombings while being trapped in the middle of the armed conflict between the Myanmar military and the armed group the Arakan Army in Rakhine State.

    At the same time, Myanmar’s military has lost an unprecedented amount of territory across the country to a loose coalition of ethnic armed groups, which have captured two regional commands, high-ranking military officers, dozens of towns, and border crossings. These groups have also been implicated in human rights abuses.

    In areas controlled by ethnic armed groups or overseen by the National Unity Government—formed by democratically elected lawmakers and officials ousted in the 2021 coup—local structures of governance and civil society are emerging. These include schools, hospitals, administrative offices, prisons, police stations, and courts.

    Our undersigned organizations call on all parties to the armed conflict in Myanmar to comply with international humanitarian law and engage with international justice mechanisms, including the Independent Investigative Mechanism for Myanmar. All countries, including regional actors in ASEAN and neighbouring states, must increase pressure on the junta by blocking arms shipments, suspending aviation fuel shipments and supporting international justice mechanisms, including by prosecuting or extraditing any suspected perpetrators. ASEAN must move beyond its failed Five-Point Consensus and take decisive action to hold the junta accountable. We also urge the international community to commit to a coordinated, long-term international justice strategy.

    Globally, some highly anticipated international justice efforts are moving forward. In November 2024, the International Criminal Court’s (ICC) Office of the Prosecutor requested an arrest warrant for Myanmar’s Senior General Min Aung Hlaing for the crimes against humanity of deportation and persecution of the Rohingya committed in Myanmar and in part in Bangladesh between August and December 2017. Requests targeting other senior military officials are expected.

    If these requests are granted, authorities in ICC member states must urgently comply with an arrest warrant for a suspect present within their jurisdiction and hand the person over to the ICC to face their accusers in a fair trial for alleged crimes under international law. The international community must deny safe haven to those accused of serious crimes by ensuring their immediate arrest and transfer to the ICC. The world must not allow perpetrators to evade international justice.

    While the present arrest warrant request is a welcome step, it remains limited in scope, location, and time and does not cover any alleged crimes after the 2021 coup. The ICC Prosecutor should demonstrate further progress in his investigation, including considering crimes under international law committed after 2017 and in the four years since the coup. The UN Security Council and Member States of the ICC must refer the full situation in all of Myanmar to the ICC to ensure justice for all victims.

    Governments, donors, and international agencies should support and pursue a wide variety of accountability efforts, including universal jurisdiction, and the potential creation of ‘hybrid’ or similar tailored justice mechanisms. The international community must also impose a global arms embargo, suspend jet fuel exports, and engage with all relevant national stakeholders, including civil society and those most affected by crimes.

    The UN Human Rights Council resolution from April 2024 stressed the need for “close and timely cooperation” between the Independent Investigative Mechanism for Myanmar, a body established by the UN Human Rights Council to collect and preserve evidence of atrocity crimes in Myanmar for future prosecutions, and “any future investigations or proceedings by national, regional or international courts or tribunals, including by the International Criminal Court or the International Court of Justice.”

    It also requested the UN High Commissioner for Human Rights to maintain a focus on accountability regarding international human rights law, international humanitarian law, and the rule of law and submit a future report on ways to “fulfil the aspirations of the people of Myanmar for human rights protection, accountability, democracy, and a civilian government.”

    Myanmar will be discussed at the upcoming UN Human Rights Council session from 24 February to 4 April 2025. UN member states must use this opportunity to take a bold and innovative approach on Myanmar and adopt a resolution aimed at breaking the cycle of impunity for atrocity crimes. The international community must also amplify the voices of survivors, activists and the people of Myanmar who continue to resist oppression at great personal risk.

    Myanmar’s human rights crisis did not begin with the coup. Decades of oppression have led to this moment. Ending impunity requires bold and adapted solutions and long-term political and financial commitment. The world must act now.

    #Sisters2Sisters
    Ah Nah Podcast – Conversations with Myanmar
    Amnesty International
    Arakan Rohingya National Organisation
    Arakan Rohingya National Union
    Assistance Association for Myanmar-based Independent Journalists
    Athan – Freedom of Expression Activist Organization
    Blood Money Campaign
    Burma Action Ireland
    Burma Campaign UK
    Burma Civil War Museum
    Burma Human Rights Network
    Burma War Crimes Investigation
    Burmese Rohingya Organisation UK
    CAN-Myanmar
    Center for Ah Nyar Studies
    Chin Human Rights Organization
    Community Rebuilding Center
    Defend Myanmar Democracy
    EarthRights International
    Fortify Rights
    Free Rohingya Coalition
    Global Myanmar Spring Revolution
    Human Rights Foundation of Monland
    Independent Myanmar Journalists Association
    Kaladan Press Network
    Karen Human Rights Group
    Karenni Human Rights Group
    Mayu Region Human Rights Documentation Center
    Mother’s Embrace
    Myanmar Ethnic Rohingya Human Rights Organization in Malaysia
    New Myanmar Foundation
    Odhikar
    Progressive Muslim Youth Association
    Political Prisoners Network – Myanmar
    Refugee Women for Peace and Justice
    Refugees International
    Rohingya Human Rights Initiative
    Rohingya Student League
    Rohingya Student Network
    Rohingya Student Union
    Rohingya Youth for Legal Action
    RW Welfare Society
    Sitt Nyein Pann Foundation
    Women Organization of Political Prisoners
    Youth Congress Rohingya.

    MIL OSI – Submitted News –

    January 31, 2025
  • MIL-OSI United Kingdom: UK fire engines chosen to modernise Iraq fleet

    Source: United Kingdom – Government Statements

    Iraq’s Ministry of Interior to purchase over 60 British-made vehicles.

    • Exports minister announces that key UK export deal will help Iraq fight fires.

    • UK will provide vital support to Iraq through the provision of fire engines, with biggest overhaul of Iraqi fleet this century being financed by a UK Export Finance loan.

    • Independent businesses in Yorkshire and Ayrshire are to supply these vehicles for use across Iraq.

    Two British businesses are delivering one of Iraq’s biggest-ever investments into its emergency services thanks to a c. $31 million loan from UK Export Finance (UKEF), the government’s export credit agency.

    The loan allows Iraq’s Ministry of Interior to purchase 62 British-made fire-fighting vehicles each capable of carrying up to 6,500 litres of water and 500 litres of foam.

    Promoting investment into local businesses and employers, the partnership supports this government’s Plan for Change to boost economic growth across all regions.

    Ayrshire-headquartered Emergency One and Batley-based Angloco have been selected to supply vehicles for Iraq’s Civil Defence Directorate.

    Emergency One, the UK’s leading manufacturer of fire and rescue vehicles, supplies over 90% of the UK’s fire and rescue services and continues to grow its international presence. Angloco, a well-established SME, exports to over 70 countries worldwide. Both companies bring significant expertise and innovation to this contract, further strengthening their impact in the Gulf region.

    Frequent outbreak of fires in Iraq, particularly during the summer months, can cause devastating effect to businesses, communities, and key infrastructure.

    By helping buyers to purchase UK exports more easily, UKEF loans secure large contracts with favourable payment terms for British businesses – including small businesses likely to need payment upfront before they can deliver a contract. 

    J.P. Morgan acted as both Sole Mandated Lead Arranger and agent bank for the loan.

    Gareth Thomas, UK Minister for Exports, said:

    We have a Plan for Change to help grow our economy and support workers right across the country, and that’s precisely what these deals are about.

    Shining a spotlight on cutting edge tech and highly skilled jobs, this announcement shows the UK’s exporting potential and manufacturing strength.

    His Excellency Abdul Amir Al-Shammari, Iraq Minister of Interior, said:

    The Government of Iraq is contracting with British companies through the UKEF Loan to import specialized firefighting vehicles for the Directorate of Civil Defence.

    This will contribute significantly to the strengthening of the Directorate’s capabilities through the use of high-quality vehicles. This demonstrates the continuous support received by the Directorate by the UK and will improve our ability to tackle fire incidents.

    John Meakin, Global Head of Export Finance at J.P. Morgan, said:

    J.P. Morgan is delighted to support the finance of firefighting equipment from the UK to the Republic of Iraq.

    This is the latest UKEF deal giving businesses the support they need to deliver contracts and drive change at home in the UK and overseas in Iraq. In 2023, a UKEF guarantee helped British firms to secure over £100 million in export contracts to support the installation of 350km in drainage infrastructure around Hillah city.

    Contact 

    Media enquiries:

    Email newsdesk@ukexportfinance.gov.uk

    Share this page

    The following links open in a new tab

    • Share on Facebook (opens in new tab)
    • Share on Twitter (opens in new tab)

    Updates to this page

    Published 31 January 2025

    MIL OSI United Kingdom –

    January 31, 2025
  • MIL-OSI Asia-Pac: President Lai’s response to Pope Francis’s 2025 World Day of Peace message  

    Source: Republic of China Taiwan

    Details
    2025-01-17
    President Lai meets former US Vice President Mike Pence
    On the afternoon of January 17, President Lai Ching-te met with former Vice President of the United States Mike Pence. In remarks, President Lai thanked former Vice President Pence for his contributions to the deepening of Taiwan-US relations, noting that he actively helped to strengthen Taiwan-US cooperation and facilitate the normalization of military sales to Taiwan, and did his utmost to deepen the Taiwan-US economic partnership. The president indicated that former Vice President Pence also spoke up for Taiwan on numerous occasions at international venues, backing Taiwan’s international participation. President Lai expressed hope for a stronger Taiwan-US partnership to maintain peace and stability throughout the world, and that the two sides can advance bilateral exchanges in such areas as the economy, trade, and industry. A translation of President Lai’s remarks follows: I am delighted to welcome former Vice President Pence and Mrs. Karen Pence to the Presidential Office. Former Vice President Pence is not only an outstanding political leader in the US, but also a staunch supporter of Taiwan on the international stage. On behalf of the people of Taiwan, I would like to take this opportunity to extend our deepest gratitude to former Vice President Pence for his contributions to the deepening of Taiwan-US relations. Thanks to former Vice President Pence’s strong backing, ties between Taiwan and the US rose to unprecedented heights during President Donald Trump’s first administration. Former Vice President Pence actively helped to strengthen Taiwan-US security cooperation and facilitate the normalization of military sales to Taiwan, helping Taiwan reinforce its self-defense capabilities. He also did his utmost to deepen the Taiwan-US economic partnership. Former Vice President Pence also paid close attention to the military threats and diplomatic isolation faced by Taiwan. He spoke up for Taiwan on numerous occasions at international venues, taking concrete action to back Taiwan’s international participation. We were truly grateful for this. As we speak, China’s political and military intimidation against Taiwan persist. China and other authoritarian regimes, such as Russia, North Korea, and Iran, are continuing to converge and present serious challenges to democracies around the globe. At this moment, free and democratic nations must come together to bolster cooperation. I believe that a stronger Taiwan-US partnership can be an even more powerful force in maintaining peace and stability throughout the world. Former Vice President Pence has previously supported the signing of a trade agreement between Taiwan and the US. Taiwan looks forward to continuing to work with the new US administration and Congress to advance bilateral exchanges in such areas as the economy, trade, and industry. This is the first time that former Vice President Pence and Mrs. Pence are visiting Taiwan, and their visit is significantly meaningful for Taiwan-US exchanges. On behalf of the people of Taiwan, I want to extend a warm welcome. Moving forward, I hope we will jointly realize even more fruitful achievements through Taiwan-US cooperation. Former Vice President Pence then delivered remarks, thanking President Lai for his hospitality on his and his wife’s first visit to Taiwan, saying that it is an honor to be here to reaffirm the bonds of friendship between the people of America and the people of Taiwan, which are strong and longstanding. The former vice president indicated that the American people admire the people of Taiwan and all that has been accomplished in a few short decades for Taiwan to rise to one of the world’s preeminent economic powers and free societies. He said that he is grateful for President Lai’s courageous and bold leadership of Taiwan, and grateful to be able to express the support of the overwhelming majority of the American people for this alliance. Former Vice President Pence indicated that the values shared by Taiwan and the US, including freedom, the rule of law, and respect for human rights, bind us together in a partnership that transcends geographic boundaries and cultures. He then assured President Lai that China’s increasingly aggressive posture in the Taiwan Strait and across the Indo-Pacific, for the values and interests that both sides share, is deeply concerning to the American people. Former Vice President Pence stated that America is a Pacific nation, and is committed to the status quo, adding that they recognize it is China that wants to change the status quo that America, Taiwan, and other allies in the region want to preserve, which has created an environment of extraordinary growth and prosperity. The former vice president concluded by once again thanking President Lai and his team for their gracious hospitality and conveying best wishes to him and the people of Taiwan. Former Vice President Pence then assured President Lai that just as Taiwan will never surrender its freedom, he will continue to be a voice for a strong US-Taiwan relationship in the defense and the benefit of Taiwan, the US, and the free world. Later that day, Vice President Bi-khim Hsiao hosted a banquet for former Vice President Pence and his delegation at Taipei Guest House to thank him for his longstanding friendship and staunch support for Taiwan-US ties.  

    Details
    2025-01-17
    President Lai meets delegation to 60th Inaugural Ceremonies of US president and vice president
    On the morning of January 16, President Lai Ching-te met with Taiwan’s delegation to the 60th Inaugural Ceremonies of the President and Vice President of the United States. In remarks, President Lai stated that democratic Taiwan stands united, working hard to deepen Taiwan-US ties together. He then entrusted the delegation with three missions: to convey best wishes from the people of Taiwan, convey our firm commitment to democracy, and help Taiwan-US relations reach a new milestone. A translation of President Lai’s remarks follows: The 60th Inaugural Ceremonies of the President and Vice President of the US will be held on January 20. I want to thank Speaker Han Kuo-yu (韓國瑜), president of the Legislative Yuan, for accepting my invitation to lead our nation’s representative delegation to the event. I also thank Legislative Yuan Members Ko Chih-en (柯志恩), Wang Ting-yu (王定宇), Ko Ju-chun (葛如鈞), Lee Yen-hsiu (李彥秀), Chen Kuan-ting (陳冠廷), Kuo Yu-ching (郭昱晴), and Chen Gau-tzu (陳昭姿) for joining this visit to the US to attend the inauguration of President Donald Trump and Vice President J.D. Vance. We have gathered together today despite differences in party affiliation because in democratic Taiwan, while parties may compete domestically, when it comes to engagement externally, they stand united and share responsibility, working hard to deepen Taiwan-US ties and strive for the best interests of the nation. We share the value of defending freedom and democracy, and we share the goal of advancing peace and prosperity. Today, we engage with the world together as those from the same country – the Republic of China (Taiwan). In this complex and volatile new international landscape, and as the nation faces difficulties and challenges, I want to stress that in Formosa, there is no hostility that cannot be let go, and no hardship that cannot be overcome. Unity is the most important, and I hope that Taiwan can stand united, because there is true strength in unity. Democratic Taiwan must stand united in engaging with the world and initiate exchanges with confidence. On that ground, I am entrusting this delegation with three key missions. First, convey best wishes from the people of Taiwan. Just last year, Taiwan and the US celebrated the 45th anniversary of the passage of the Taiwan Relations Act. And on May 20, the US sent a senior bipartisan delegation to congratulate me and Vice President Bi-khim Hsiao on our inauguration. As the leader of this cross-party delegation, Speaker Han must clearly convey the well-wishes of the people of Taiwan, congratulate President Trump and Vice President Vance on their inauguration, and wish success to the new administration and prosperity to the US. Second, clearly convey the firm commitment of the people of Taiwan to democracy. The theme of these inaugural ceremonies is “Our Enduring Democracy: A Constitutional Promise.” Taiwan and the US share the universal value of democracy and are staunch allies. I hope that the delegation can faithfully convey the firm commitment to democracy that the people of Taiwan have, which will not change even in the face of authoritarian threats. Taiwan is willing to stand side by side with the US and other members of the democratic community to defend the sustainable development of global democracy and prevent the expansion of authoritarianism. Third, help Taiwan-US relations reach a new milestone. In recent years, Taiwan-US relations have continued to grow, with the first agreement under the Taiwan-US Initiative on 21st Century Trade having formally taken effect last month. This morning, the House of Representatives also passed the US-Taiwan Expedited Double-Tax Relief Act. I hope that the delegation can help Taiwan-US relations reach a new milestone through these exchanges so that our relations continue to grow, our cooperation expands even more, and so that we can achieve even greater success after the new administration takes office. Four years ago, Taiwan’s representative to the US inaugural ceremonies was Vice President Hsiao, who was then our representative to the US. Everyone has a lot to learn from her. I have specially invited everyone here to converse so that you can draw from Vice President Hsiao’s experience and ensure an even smoother visit. Washington, DC was also hit by a rare blizzard recently, and the weather has been very cold, so make sure to stay warm. I am sending everyone off with hand warmers and thermoses so that you can bring some warmth from Taiwan with you on your journey. And I ask that Speaker Han exercise his wisdom to help generate some warmth between the ruling and opposition parties through cooperation, which they can then bring back to Taiwan. Let us unite to give our all for diplomacy so that we can unite to give our all for Taiwan. I wish the delegation a smooth and safe trip, and hope your missions can be carried out successfully. Speaker Han then delivered remarks, stating that it was an honor to be invited by President Lai to organize a delegation to represent our nation at the 60th Inaugural Ceremonies of the President and Vice President of the US in Washington, DC, and express the Republic of China’s sincere and cordial best wishes. The Legislative Yuan’s president has assumed this important task numerous times in the past, he said, not only to represent the government of the Republic of China, but also to take on the mission of conveying the voices of 23 million people. He went on to say that he is honored to take up the baton, lead eight legislators to the US to attend this celebration that will attract global attention, and express sincere best wishes to newly elected President Trump, Vice President Vance, and the new administration’s team. As enjoined by President Lai, he hopes the delegation’s trip will help open a new chapter in Taiwan-US exchanges. Speaker Han stated that the US is the most free and democratic country in the world. He noted that in 1776 in the US Declaration of Independence, founding father Thomas Jefferson propounded the concept of “unalienable rights,” and emphasized that the people have a right to freedom and the pursuit of happiness, democratic ideas that have long been rooted in the people’s hearts. Today, he said, democracy is also embedded in the DNA of Taiwan’s 23 million people, and this hard-won democratic achievement is a result of the concerted efforts of our pioneering predecessors, thinkers, and activists over the past 100 years. Speaker Han stated that during this visit, the Legislative Yuan delegation hopes to convey the voice of Taiwan as a democratic country. Taiwan’s security, he said, is like the four legs of a table: The first leg is defending the Republic of China, the second is defending freedom and democracy, the third is maintaining Taiwan-US relations, and the fourth is maintaining cross-strait peace. The delegation will travel to the US amidst severe cold weather to show that we value our relationship with the US, and our citizens have great hopes and expectations. Speaker Han stated that this will be a cross-party delegation of eight legislators, all of whom have a strong sense of mission. He hopes that all democratic nations will acknowledge Taiwan’s importance, and pay attention to Taiwan’s 23 million people. The delegation, he said, will do its utmost to convey the goodwill and warmth that the people of Taiwan give to each and every one of our good friends.

    Details
    2025-01-17
    President Lai confers decoration on former Lithuanian Foreign Minister Gabrielius Landsbergis
    On the morning of January 14, President Lai Ching-te conferred the Order of Brilliant Star with Special Grand Cordon upon former Minister of Foreign Affairs Gabrielius Landsbergis of the Republic of Lithuania in recognition of his remarkable contributions to deepening Taiwan-Lithuania relations. In remarks, President Lai thanked former Minister Landsbergis for standing firmly with Taiwan and remaining a staunch defender of democratic values, yielding fruitful cooperative results. The president expressed hope that the two countries will engage in even more cooperation and exchanges in such areas as the economy, trade, technology, and culture, and continue to advocate for the values of freedom and democracy so that together we can contribute even more to our nations’ development and to peace and prosperity throughout the world. A translation of President Lai’s remarks follows: Today, by conferring the Order of Brilliant Star with Special Grand Cordon upon former Minister Landsbergis, we recognize his outstanding contributions during his time as foreign minister of Lithuania. On behalf of the people of Taiwan, I thank him for the key role he has played in deepening Taiwan-Lithuania relations. During the COVID-19 pandemic, thanks to the efforts of former Minister Landsbergis, Lithuania was the first European nation to donate vaccines to Taiwan. On that occasion, he stated that “freedom-loving people should look out for each other.” His statement was very moving and left a deep impression on many Taiwanese people. We will never forget it. Former Minister Landsbergis has continued to express the spirit of those words through his concrete actions. With his staunch support, Taiwan and Lithuania have mutually established representative offices. Moreover, our representative office in Lithuania was the first in Europe to incorporate “Taiwan” in its name. As for bilateral cooperation, Taiwan and Lithuania have seen fruitful results in such fields as semiconductors, laser technology, finance, and medicine. Be it overcoming the challenges posed by the pandemic or resisting expanding authoritarianism, former Minister Landsbergis has stood firmly with Taiwan and remained a staunch defender of democratic values. We greatly admire and appreciate his spirit. Today, authoritarian regimes continue to converge, posing threats and challenges to democracies around the world. Taiwan, Lithuania, and other democratic countries must come closer together, drawing on the strength of unity, so as to jointly safeguard freedom and democracy and uphold the rules-based international order. Looking ahead, we hope that Taiwan and Lithuania will engage in even more cooperation and exchanges in such areas as the economy, trade, technology, and culture. Let us continue to advocate for the values of freedom and democracy. Together, we can contribute even more to our nations’ development and to peace and prosperity throughout the world. In closing, I once again thank you, former Minister Landsbergis, for your support and for all that you have done for Taiwan. We welcome you and your wife to visit often. I wish you both a smooth and successful visit in Taiwan, and hope you leave with lasting memories.    Former Minister Landsbergis then delivered remarks, saying that it is a great honor to receive the decoration today. He noted that only partially can he accept the honor, as there have been many people who worked together with him in the ministry and in the whole country who support the people of Taiwan and see the benefit of supporting democracy in Taiwan. He often says that in Lithuania they remember well the fight for their freedom, and just today, he mentioned, he was shown the permanent exhibition in the Presidential Office, where he saw similar pictures of Taiwanese people fighting for democracy. He emphasized that not even one generation has passed since these events took place here in Taipei or similar events took place in Vilnius. Former Minister Landsbergis said that decision-makers in the Lithuanian government are either people who were themselves fighting for freedom, or, as in his case, those who were sitting on the shoulders of parents who were fighting for freedom. So for them, he underlined, freedom, democracy, liberty, and sovereignty are very real concepts that they cherish, not just things read about in a history book. He said that this is the main connector between Lithuania and Taiwan, a feeling of freedom and support for each other. Former Minister Landsbergis stated that in the face of authoritarians who do not wish us prosperity, who do not wish us freedom and future achievements, what he expects from the future is that the friendship, collaboration, and mutual support between Lithuania and Taiwan will inspire others to join in. This, he said, will make other countries not be afraid to support freedom and democracy, and will allow our group of friends to continue to grow. Lithuanian history, the former minister said, is difficult, and a big part of it was fighting for their freedom. He explained that during the 19th century when Lithuania was part of Russia’s empire, they had several revolutions and uprisings with the aim of becoming free, and that they were fighting for that freedom alongside Poland and Belarus. He then applied a phrase that they used in the revolution of 1864 – “for your freedom and ours,” meaning that they will continue to fight for their freedom while helping Taiwan fight for ours. Also in attendance at the ceremony were former Minister Landsbergis’ wife Dr. Austėja Landsbergienė and Lithuanian Representative to Taiwan Paulius Lukauskas.

    Details
    2025-01-17
    Presidential Office thanks White House for its statement on enduring US commitment to Indo-Pacific region
    On January 10 (US EST), the US White House released a statement on the United States’ Enduring Commitment to the Indo-Pacific Region, in which it reaffirms its position of using a range of methods to help Taiwan maintain a sufficient self-defense capability so as to maintain peace and stability in the Indo-Pacific region and across the Taiwan Strait. Presidential Office Spokesperson Karen Kuo (郭雅慧) on January 11 expressed sincere gratitude to the US government for taking concrete actions to fulfill its security commitments to Taiwan, advancing the close Taiwan-US security partnership, and supporting Taiwan in its efforts to enhance its self-defense capabilities and resilience. Spokesperson Kuo stated that the deepening Taiwan-US security partnership is a critical cornerstone for peace and stability in the Indo-Pacific region. She noted that Taiwan, as a force for good and regional stability, will continue to work alongside like-minded countries to strengthen defense resilience as we jointly defend the values of freedom and democracy and ensure the peace, stability, and prosperity of the Indo-Pacific region.

    Details
    2025-01-17
    President Lai meets Ronald Reagan Presidential Foundation and Institute delegation
    On the morning of January 9, President Lai Ching-te met with a delegation from the Ronald Reagan Presidential Foundation and Institute (RRPFI). In remarks, President Lai thanked RRPFI President David Trulio and members of RRPFI for remaining undaunted by China’s threats and sanctions, and lending great support to Taiwan. He emphasized that facing the continued expansion of authoritarianism, Taiwan will actively implement the Four Pillars of Peace action plan to preserve regional peace and stability, safeguard the values of democracy and freedom, and advance worldwide prosperity and development. President Lai expressed hope that they can continue to collaborate to promote the development of Taiwan-United States relations and put RRPFI’s principles into practice. A translation of President Lai’s remarks follows: First, let me warmly welcome President Trulio, who is leading this delegation from RRPFI to Taiwan. And on behalf of all the people of Taiwan, I want to extend our heartfelt condolences in wake of the ongoing fires in California. I hope that they can be put out swiftly so that harm is reduced, and I hope that those who are injured are able to receive timely help. President Reagan was a staunch friend of Taiwan. The Six Assurances he put forward in 1982 and the Taiwan Relations Act passed by Congress in 1979 form the bedrock of Taiwan-US relations. The incorporation of the Six Assurances into the Asia Reassurance Initiative Act of 2018 further established bipartisan, bicameral, and cross-agency US support for Taiwan. With authoritarianism continuing to expand, President Reagan’s conviction of peace through strength is proving to be especially crucial as democracies unite to protect freedom, democracy, peace, and the rules-based international order. RRPFI honors President Reagan’s legacy by championing such principles as individual liberty, economic opportunity, global democracy, and national pride. Many of you have served previous US administrations as part of national security teams, and many of you are longstanding friends of Taiwan. I sincerely hope that we can continue to collaborate to promote the development of Taiwan-US relations and put RRPFI’s principles into practice. I also want to extend particular gratitude to President Trulio and RRPFI for lending great support to Taiwan. Undaunted by China’s threats and sanctions, you warmly welcomed former President Tsai Ing-wen to the Ronald Reagan Presidential Library during her stopover in California in April 2023 and arranged a delegation to visit Taiwan in October of the same year. As for the continued expansion of authoritarianism, Taiwan will meet it head on, and uphold President Reagan’s spirit of peace through strength. We will actively implement the Four Pillars of Peace action plan by strengthening national defense, building economic security, and demonstrating stable and principled cross-strait leadership, as well as promoting values-based diplomacy. Bolstering Taiwan’s cooperation with the US and other democracies will preserve regional peace and stability, safeguard the values of democracy and freedom, and advance worldwide prosperity and development. President Trulio then delivered remarks, first thanking President Lai for his warm welcome and saying that he and the delegation are deeply honored to be with him in Taiwan, along with so many top leaders in his administration. President Trulio added that they are proud to advance President Reagan’s legacy and timeless principles, and our collective shared values. President Trulio indicated that President Reagan visited Taiwan twice before he became president. Acknowledging what President Lai stated, he noted that it was President Reagan’s administration that developed what became known as the Six Assurances, a framework that to this day serves as the foundation of relations between the US and Taiwan. More broadly, President Trulio said, President Reagan knew that America’s strength and the strength of its allies and friends are key to global peace, prosperity, and security. He said President Reagan also knew that societies that provide economic opportunity and democracy offer a better life for their citizens. In fact, he stated, President Reagan said that freedom is not the sole prerogative of a lucky few, but the inalienable and universal right of all human beings. President Trulio went on to say that Taiwan’s open society and thriving democracy make the commitment to freedom here plain for all to see. President Trulio noted that RRPFI had the honor of visiting Taipei in October 2023, when the delegation met then-President Tsai. He said that their return visit to Taipei at the start of 2025 comes at a crucial time, and that part of what makes that timing so significant is that there will be a new administration inaugurated in Washington in about 10 days. Over the course of their visits to Taiwan, President Trulio said, it has been plain to see that Taiwan stands strong as a vibrant democracy, with political parties sharing a commitment to democratic principles. He said it is also plain to see that Taiwan’s advanced economy and global technological leadership present positive opportunities for the US. He added that it is also plain to see that the security situation across the Taiwan Strait demands a continued commitment to peace through strength, including through robust partnership with Taiwan and sustained US deterrence. President Trulio stated that he looks forward to addressing the opportunities and challenges facing Taiwan and the US, and is confident that together, we will further well into the future our shared commitment to freedom and democracy, economic opportunity, and security and stability. The delegation also included RRPFI Washington Director Roger Zakheim, Director of the Alexander Hamilton Center for Classical and Civic Education at the University of Florida William Inboden, Palantir Technologies Senior Counselor Jamie Fly, former Deputy White House Staff Secretary Catherine Bellah, Anduril Industries Policy Director Dustin Walker, Hudson Institute Adjunct Fellow Alexander Benard, RRPFI Policy Director Rachel Hoff, and RRPFI Digital Strategy and Communications Director James Rogers.

    Details
    2025-01-01
    President Lai delivers 2025 New Year’s Address
    On the morning of January 1, President Lai Ching-te delivered his 2025 New Year’s Address, titled “Bolstering National Strength through Democracy to Enter a New Global Landscape,” in the Reception Hall of the Presidential Office. President Lai stated that today’s Taiwan is receiving international recognition for its performance in many areas, among them democracy, technology, and economy. In this new year, he said, Taiwan must be united, and we must continue on the right course. The president expressed hope that everyone in the central and local governments, regardless of party, can work hard together, allowing Taiwan sure footing as it strides forward toward ever greater achievements.  President Lai emphasized that in 2025, we must keep firm on the path of democracy, continue to bolster our national strength, make Taiwan more economically resilient, enhance the resilience of supply chains for global democracies, and continue working toward a Balanced Taiwan and generational justice, ensuring that the fruits of our economic growth can be enjoyed by all our people. The president said that Taiwan will keep going strong, and we will keep walking tall as we enter the new global landscape. A translation of President Lai’s address follows: Today is the first day of 2025. With a new year comes new beginnings. I wish that Taiwan enjoys peace, prosperity, and success, and that our people lead happy lives. Taiwan truly finished 2024 strong. Though there were many challenges, there were also many triumphs. We withstood earthquakes and typhoons, and stood firm in the face of constant challenges posed by authoritarianism. We also shared glory as Taiwan won the Premier12 baseball championship, and now Taiwanese people around the world are all familiar with the gesture for Team Taiwan. At the Paris Olympics, Wang Chi-lin (王齊麟) and Lee Yang (李洋) clinched another gold in men’s doubles badminton. Lin Yu-ting (林郁婷) took home Taiwan’s first Olympic gold in boxing. At the International Junior Science Olympiad, every student in our delegation of six won a gold medal. And Yang Shuang-zi’s (楊双子) novel Taiwan Travelogue, translated into English by King Lin (金翎), became a United States National Book Award winner and a tour de force of Taiwan literature on the international level. Our heroes of Taiwan are defined by neither age nor discipline. They have taken home top prizes at international competitions and set new records. They tell Taiwan’s story through their outstanding performances, letting the world see the spirit and culture of Taiwan, and filling all our citizens with pride. My fellow citizens, we have stood together through thick and thin; we have shared our ups and downs. We have wept together, and we have laughed together. We are all one family, all members of Team Taiwan. I want to thank each of our citizens for their dedication, fueling Taiwan’s progress and bringing our nation glory. You have given Taiwan even greater strength to stand out on the global stage. In this new year, we must continue bringing Taiwan’s stories to the world, and make Taiwan’s successes a force for global progress. In 2025, the world will be entering a new landscape. Last year, over 70 countries held elections, and the will of the people has changed with the times. As many countries turn new pages politically, and in the midst of rapid international developments, Taiwan must continue marching forward with steady strides. First, we must keep firm on the path of democracy. Taiwan made it through a dark age of authoritarianism and has since become a glorious beacon of democracy in Asia. This was achieved through the sacrifices of our democratic forebears and the joint efforts of all our citizens. Democracy’s value to Taiwan lies not just in our free way of life, or in the force driving the diverse and vigorous growth of our society. Democracy is the brand that has earned us international trust in terms of diplomacy. No matter the threat or challenge Taiwan may face, democracy is Taiwan’s only path forward. We will not turn back. Domestic competition among political parties is a part of democracy. But domestic political disputes must be resolved democratically, within the constitutional system. This is the only way democracy can continue to grow. The Executive Yuan has the right to request a reconsideration of the controversial bills passed in the Legislative Yuan, giving it room for reexamination. Constitutional institutions can also lodge a petition for a constitutional interpretation, and through Constitutional Court adjudication, ensure a separation of powers, safeguard constitutional order, and gradually consolidate the constitutional system. The people also have the right of election, recall, initiative, and referendum, and can bring together even greater democratic power to show the true meaning of sovereignty in the hands of the people. In this new year, the changing international landscape will present democratic nations around the world with many grave challenges. Russia’s invasion of Ukraine and conflict between Israel and Hamas rage on, and we are seeing the continued convergence of authoritarian regimes including China, Russia, North Korea, and Iran, threatening the rules-based international order and severely affecting peace and stability in the Indo-Pacific region and the world at large. Peace and stability in the Taiwan Strait are essential components for global security and prosperity. Taiwan needs to prepare for danger in times of peace. We must continue increasing our national defense budget, bolster our national defense capabilities, and show our determination to protect our country. Everyone has a responsibility to safeguard Taiwan’s democracy and security. We must gather together every bit of strength we have to enhance whole-of-society defense resilience, and build capabilities to respond to major disasters and deter threats or encroachment. We must also strengthen communication with society to combat information and cognitive warfare, so that the populace rejects threats and enticements and jointly guards against malicious infiltration by external forces. Here at home, we must consolidate democracy with democracy. Internationally, we must make friends worldwide through democracy. This is how we will ensure security and peace. The more secure Taiwan, the more secure the world. The more resilient Taiwan, the sounder the defense of global democracy. The global democratic community should work even closer together to support the democratic umbrella as we seek ways to resolve the war in Ukraine and conflict between Israel and Hamas. Together, we must uphold stability in the Taiwan Strait and security in the Indo-Pacific, and achieve our goal of global peace. Second, we must continue to bolster our national strength, make Taiwan more economically resilient, and enhance the resilience of supply chains for global democracies. In the first half of 2024, growth in the Taiwan Stock Index was the highest in the world. Our economic growth rate for the year as a whole is expected to reach 4.2 percent, leading among the Four Asian Tigers. Domestic investment is soaring, having exceeded NT$5 trillion, and inflation is gradually stabilizing. Export orders from January to November totaled US$536.6 billion, up 3.7 percent from the same period in 2023. And compared over the same period, exports saw a 9.9 percent increase, reaching US$431.5 billion. Recent surveys also show that in 2024, the average increase in salaries at companies was higher than that in 2023. Additionally, over 90 percent of companies plan to raise salaries this year, which is an eight-year high. All signs indicate that Taiwan’s economic climate continues to recover, and that our economy is growing steadily. Our overall economic performance is impressive; still, we must continue to pay attention to the impact on Taiwan’s industries from the changing geopolitical landscape, uncertainties in the global economic environment, and dumping by the “red supply chain.”  For a nation, all sectors and professions are equally important; only when all our industries are strong can Taiwan be strong as a nation. Our micro-, small-, and medium-sized enterprises (MSMEs) are the lifeblood of Taiwan, and the development of our various industrial parks has given Taiwan the impetus for our prosperity. We must carry the spirit of “Made in Taiwan” forward, bringing it to ever greater heights. Thus, beyond just developing our high-tech industry, our Executive Yuan has already proposed a solution that will help traditional industries and MSMEs comprehensively adopt technology applications, engage in the digital and net-zero twin transition, and develop channels, all for better operational structures and higher productivity. Taiwan must continue enhancing its economic resilience. In recent years, Taiwan has significantly increased its investments in the US, Japan, Europe, and the New Southbound countries, and such investment has already surpassed investment in China. This indicates that our efforts in diversifying markets and reducing reliance on any single market are working. Moving forward, we must keep providing assistance so that Taiwan industries can expand their global presence and market internationally from a solid base here in Taiwan. At the same time, Taiwan must use democracy to promote economic growth with the rest of the world. We must leverage our strengths in the semiconductor and AI industries. We must link with democratic countries so that we can together enhance the resilience of supply chains for global democracies. And through international cooperation across many sectors, such as UAVs, low-orbit communications satellites, robots, military, security and surveillance, or biopharmaceuticals, renewable energy technology, new agriculture, and the circular economy, we must keep abreast of the latest cutting-edge technology and promote diverse development. This approach will help Taiwan remain a leader in advancing global democratic supply chains, ensuring their security and stability. Third, we must continue working toward a Balanced Taiwan and generational justice, ensuring that the fruits of our economic growth can be enjoyed by all our people. Democracy means the people have the final say. Our nation belongs to all 23 million of us, without regard for ethnic group, generation, political party, or whether we live in urban or rural areas. In this new year, we must continue to pursue policies that promote the well-being of the nation and the people. But to that end, the central government needs adequate financial resources to ensure that it can enact each of these measures. Therefore, I hope that the ruling and opposition parties can each soberly reconsider the amendments to the Act Governing the Allocation of Government Revenues and Expenditures and find a path forward that ensures the lasting peace and stability of our country. For nine consecutive years, the minimum wage has continued to rise. Effective today, the minimum monthly salary is being raised from NT$27,470 to NT$28,590, and the hourly salary from NT$183 to NT$190. We hope by raising the pay for military personnel, civil servants, and educators for two consecutive years, coupled with benefits through wage increases and tax reductions, that private businesses will also raise wages, allowing all our people to enjoy the fruits of our economic growth. I know that everyone wants to pay lower taxes and rent. This year, we will continue to promote tax reductions. For example, unmarried individuals with an annual income of NT$446,000 or less can be exempt from paying income tax. Dual-income families with an annual income of NT$892,000 or less and dual-income families with two children aged six or younger with an annual income of NT$1,461,000 or less are also exempt from paying income tax. Additionally, the number of rent-subsidized housing units will also be increased, from 500,000 to 750,000 units, helping lighten the load for everyone. This year, the age eligibility for claiming Culture Points has been lowered from 16 to 13 years, so that now young people aged between 13 and 22 can receive government support for experiencing more in the arts. Also, our Taiwan Global Pathfinders Initiative is about to take effect, which will help more young people in Taiwan realize their dreams by taking part in education and exchange activities in many places around the world. We are also in the process of establishing a sports ministry to help young athletes achieve their dreams on the field, court, and beyond. The ministry will also be active in developing various sports industries and bringing sports and athletics more into the lives of the people, making our people healthier as a result. This year, as Taiwan becomes a “super-aged society,” we will launch our Long-term Care 3.0 Plan to provide better all-around care for our seniors. And we will expand the scope of cancer screening eligibility and services, all aimed at creating a Healthy Taiwan. In addition, Taiwan will officially begin collecting fees for its carbon fee system today. This brings us closer in line with global practices and helps us along the path to our goal of net-zero emissions by 2050. We will also continue on the path to achieving a Balanced Taiwan. Last month, the Executive Yuan launched the Trillion NT Dollar Investment National Development Plan and its six major regional flagship projects. Both of these initiatives will continue to expand the investment in our public infrastructure and the development of local specialty industries, narrowing urban-rural and wealth gaps so that all our people can live and work in peace and happiness. My fellow citizens, today’s Taiwan is receiving international recognition for its performance in many areas, among them democracy, technology, and economy. This tells us that national development is moving in the right direction. In this new year, Taiwan must be united, and we must continue on the right course. We hope that everyone in the central and local governments, regardless of party, can work hard together to ensure that national policies are successfully implemented, with the people’s well-being as our top priority. This will allow Taiwan sure footing as it strides forward toward ever greater achievements. In this new year, we have many more brilliant stories of Taiwan to share with the world, inspiring all Taiwanese, both here and around the world, to cheer time and again for the glory of Taiwan. Taiwan will keep going strong. And we will keep walking tall as we enter the new global landscape. Thank you.

    MIL OSI Asia Pacific News –

    January 31, 2025
  • MIL-OSI Africa: African Mining Week (AMW) to Showcase Africa’s Rising Investment Potential in the Mining Sector

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

    CAPE TOWN, South Africa, January 31, 2025/APO Group/ —

    International investments in Africa’s mining sector are surging as global demand for both traditional and emerging minerals continues to grow. For example, Australian mining firms saw their asset value in Africa reach $60 billion in 2024, while Canadian firms’ assets climbed to $37 billion. China also launched an ambitious $50 billion, three-year investment strategy targeting increased stakes in Africa’s most lucrative opportunities including in the mining sector.

    The upcoming African Mining Week Summit, scheduled for October 1 – 3 in Cape Town, will highlight profitable opportunities within Africa’s mining industry and reinforce the continent’s attractiveness as an investment destination for global mining financiers.

    Untapped Mineral Deposits

    Africa’s vast, untapped mineral resources present potential for new investments. The continent holds 30% of the world’s critical minerals (https://apo-opa.co/3ClkUGd) essential for the energy transition, including the largest global reserves of cobalt (in the Democratic Republic of Congo) and over 80% of the world’s platinum group metals in South Africa. The continent accounts for more than 44% of global diamond production, while its share of the gold market continues to grow, with markets such as Ghana, Mali and Zimbabwe ramping up production.

    Supportive Policies and Investor-Friendly Terms

    African governments are enhancing the investment climate within the mining industry by enacting new policies and modernizing fiscal terms to streamline processes and reduce delays in project rollouts. Zambia, for instance, introduced a New Mining Tax Regime in 2023, improving transparency and reducing tax evasion, as the country targets a copper production target of three million tons by 2032. Mali has also experienced increased investment flows following its 2023 Mining Code, with global players such as HummingGold, B2Gold and Ganfeng committing to new lithium and gold projects. Malawi has also taken steps to attract investments by launching its Mining Regulatory Authority in October 2024, supported by the Mines and Minerals Act of 2023.

    Improved Mining and Export Infrastructure

    African nations are enhancing cooperation with global partners to improve mining production and mineral transportation infrastructure. For example, investment firm Africa Finance Corporation has announced that the Zambia-Lobito Railway project will commence (https://apo-opa.co/3Q0RcJL) construction in early 2026, to facilitate the efficient and cost-effective transportation of critical minerals from East and Southern Africa to global markets. Upgrades to the Tanzania-Zambia Railway (https://apo-opa.co/3PXFeAE) and South Africa’s modernization of ports through freight operator, Transnet, are further enhancing the region’s mining investment prospects.

    Rich Mining History

    Africa’s established history as a global mining hub has fostered the development of key infrastructure and a skilled workforce that international mining firms rely on to meet global mineral demand. Mining remains a cornerstone of many African economies, attracting both traditional and emerging players keen to expand their operations and leverage the continent’s resources. With its rich deposits and ongoing improvements in policy and infrastructure, Africa maintains its position as a key investment destination for the global mining industry.

    African Mining Week will serve as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energy 2025 conference (https://apo-opa.co/4htJMdI) from October 1 -3. in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com

    MIL OSI Africa –

    January 31, 2025
  • MIL-OSI: SBM Offshore completes the Share Purchase Agreements with MISC Berhad

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, January 31, 2025

    SBM Offshore confirms it has completed the transactions related to the Share Purchase Agreements announced on September 6, 2024 with its partner MISC Berhad for:

    i)   the acquisition of MISC Berhad’s entire effective equity interest in the lease and operating entities related to the FPSO Espirito Santo in Brazil; and

    ii)   the full divestment to MISC Berhad of SBM Offshore’s effective equity interest in the lease and operating entities of the FPSO Kikeh in Malaysia.

    This transaction furthers SBM Offshore’s efforts to rationalize our portfolio to ‘maintain focus and excellence’ of our operations.        

    Corporate Profile

    SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. 
    More than 7,400 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Full Year 2024 Earnings   February 20 2025
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025
    Third Quarter 2025 Trading Update   November 13 2025

    For further information, please contact:
    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Giampaolo Arghittu
    Head of External Relations

    Market Abuse Regulation
    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer
    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

    Attachment

    • SBM Offshore completes the Share Purchase Agreements with MISC Berhad

    The MIL Network –

    January 31, 2025
  • MIL-OSI: EIB submits form 18-K/A Amendment No.11: EIB Group announces preliminary unaudited operational results 2024

    Source: GlobeNewswire (MIL-OSI)

    For immediate release

    31 January 2025

    EIB submits SEC Form 18-K/A Amendment No. 11

    The European Investment Bank (EIB) has submitted its SEC Form 18-K/A Amendment No. 11.

    To view the document, please go to: EDGAR Filing Documents for 0000950157-25-000089

    The 18-K/A has also been posted on the EIB website: Amendment to the Annual Report 2023 (Form 18-K/A Amendment No 11)

    ENDS

    The MIL Network –

    January 31, 2025
  • MIL-OSI Economics: Quality, simplicity and transparency

    Source: Bank for International Settlements

    I would like to start by thanking the organisers for the invitation to speak at this important symposium.

    A resilient banking system and financial stability more broadly are largely driven by:

    • Bank risk management and governance practices;
    • The quantity and quality of capital and liquidity buffers;
    • The effectiveness of bank supervision; and
    • The effectiveness of market discipline.

    Given time constraints, my brief statement will focus on the role of global capital and liquidity standards. That is not to underplay the critical importance of the other factors. In this regard, the Basel Committee has an ongoing work programme focused on strengthening supervisory effectiveness.1 It also remains the case that the most important source of banks’ financial and operational strength comes from their own risk management and governance arrangement.2 And the Committee will continue to strengthen Pillar 3 disclosures and promote market discipline to help stakeholders adequately assess banks’ risk profiles.

    Minimum international standards

    According to the BIS International Banking Statistics, banks’ foreign claims and other exposures totalled USD 45 trillion at the end of the second quarter of 2024.3 Given the significant global nature of banking, there is a need to have a global minimum level-playing field.

    To promote such a global level playing field, the Basel Committee sets minimum standards for internationally active banks. Consistent with this approach, many jurisdictions choose to apply more stringent requirements than the minimum Basel standards. In addition, most jurisdictions apply some level of proportionality – that is simpler rules are applied to non-internationally active banks.4 

    Globally consistent minimum regulatory standards seek to limit regulatory fragmentation, regulatory arbitrage and a “race to the bottom” which dilutes the resilience of banks. While weaker standards can promote growth in the short-run, they typically lead to excessive risk taking, and the build-up of excessive leverage, which ultimately reverses and results in a sharp contraction in credit, bank failures, broader financial instability and large losses in economic output. In short – a race to the bottom is in no one’s long-term interest – in particular banks.5 

    Minimum standards for capital and liquidity regulation play a critical role in ensuring the soundness of individual banks and overall financial stability. Rigorous regulatory standards also help to promote economic growth by ensuring lending is sustainable and can be maintained when shocks hit the system, or when individual banks incur losses.6 

    Given the importance of globally consistent minimum standards, implementation of the Basel III regulatory framework remains the key priority for the Basel Committee. While there have been some delays in implementation, most of the outstanding Basel III standards are now in force in around 70% of BCBS member jurisdictions.7 

    Calibration of international standards

    It is important to note that international capital and liquidity standards are not calibrated to produce zero bank failures. Despite the significant strengthening of bank capital and liquidity ratios since the Great Financial Crisis, banks remain highly leveraged firms. Capital and liquidity buffers can absorb most, but certainly not all shocks that a bank may face. And history has shown that the frequency and severity of such shocks have been far greater than what would be expected based on banks’ internal models.8 All this points to the importance of bank risk management and governance, effective supervisory oversight, and implementation of Basel III which significantly reduces model risk.

    On the issue on calibration of regulatory standards it is important to also keep in mind that claims of negative effects of higher capital and liquidity regulation on bank lending and economic growth have not materialised. Rather, since the GFC we have seen that more highly capitalised banks are not only more resilient, they are also more profitable and lend more through the cycle.9 

    The “Swiss Finish”

    I would like to conclude by making a general point about the so-called “Swiss Finish”. Having lived in Switzerland for nearly twenty years, I have come to understand this as, among other things, an approach that favours quality over quantity.

    I think the same principle should apply to how we think about regulatory rules. If given a choice I would favour quality over quantity. In my view it is better to favour high quality capital over lower quality capital (even if that means lower reported capital ratios). Additionally, I have a general preference for simplicity over complexity, and being transparent.

    These three principles shape my personal views on the policy issues we will discuss during the panel. So whether we are thinking about the treatment of capital within a banking group, the role of Additional Tier 1 regulatory instruments or other policy issues, I am generally going to favour:

    • quality over quantity;
    • simplicity over complexity; and where possible
    • being transparent.

    Thank you. I will stop there and look forward to the discussion.

    References

    Basel Committee on Banking Supervision (2021): “Proportionality in bank regulation and supervision”, July.

    — (2022a): “Evaluation of the impact and efficacy of the Basel III reforms”, December.

    — (2022b): “Evaluation of the impact and efficacy of the Basel III reforms – Annex”, December.

    — (2023): “Report on the 2023 banking turmoil”, October.

    — (2024): “Basel Committee reports member jurisdictions making progress in implementing Basel III”, press release, 2 October.

    Bank for International Statistics (2025): “Locational banking statistics”,  see Table B4: here Consolidated banking statistics publication table: BIS,CBS_B4,1.0.

    Behn, M, R Hasselmann and V Vig (2022): “The limits of model-based regulation”, Journal of Finance, vol 77(3), June.

    Caparusso, J, U Lewrick and N Tarashev (2023): “Profitability, valuation and resilience of global banks – a tight link” Bank for International Settlements Working Paper No 1144.

    Thedéen, E (2024): “Charting the course: prudential regulation and supervision for smooth sailing”.


    1 BCBS (2023).

    MIL OSI Economics –

    January 31, 2025
  • MIL-OSI: Jyske Realkredit explores the possibilities of issuing a new euro denominated benchmark covered bond

    Source: GlobeNewswire (MIL-OSI)

    To Nasdaq Copenhagen A/S                        31th of January 2025
                                            Announcement no. 9/2025

    Jyske Realkredit explores the possibilities of issuing a new euro denominated benchmark covered bond

    Jyske Realkredit has mandated Jyske Bank, Danske Bank, Commerzbank, TD Securities and DekaBank to explore the possibilities of issuing a new euro denominated covered bond out of capital centre E. A benchmark transaction is expected to be launched.

    Questions may be addressed to Anders Lund Hansen, Executive Vice President, tel. (+45) 89 89 92 20 or Christian Bech-Ravn, Head of Investor Relations, tel. (+45) 89 89 92 25.

    The information will also be available on Jyske Realkredit’s web site at jyskerealkredit.com.

    Yours sincerely

    Jyske Realkredit A/S

    Please observe that the Danish version of this announcement prevails.

    The MIL Network –

    January 31, 2025
  • MIL-OSI Video: HAWKS NATIONAL HEAD TO HOLD A MEDIA BRIEFING TO SHARE ACHIEVEMENTS FOR 2024/2025 FINANCIAL YEAR

    Source: Republic of South Africa (video statements-2)

    The National Head for the Directorate for Priority Crime Investigation, Lieutenant General (Dr/Adv.) Godfrey Lebeya and his management holds a media briefing to outline progress and take stock of milestones achieved during the third quarter of financial year 2024/2025

    https://www.youtube.com/watch?v=jT_aaxh7bsA

    MIL OSI Video –

    January 31, 2025
  • MIL-OSI Australia: New Consul-General to Toronto

    Source: Minister for Trade

    Today I am pleased to announce the appointment of Rachelle Jackson to lead an Australian diplomatic post in Canada.

    Ms Jackson has been appointed to the role of Consul-General and Trade and Investment Commissioner in Toronto, Canada.

    Ms Jackson has a wealth of experience in trade and investment policy having held multiple leadership roles at Austrade in Melbourne and Sydney, and as a Trade Commissioner in New York and San Francisco.

    Her appointment underscores the importance of Australia’s relationship with Canada, and will advance our trade and diplomatic interests, and drive opportunities for a continued and strong bilateral trading relationship.

    I congratulate Ms Jackson on her well-deserved appointment.

    I thank the outgoing Consul-General and Trade Commissioner Josh Riley for his time and successful efforts in the role.

    MIL OSI News –

    January 31, 2025
  • MIL-OSI: WOOD & Co Reinitiated Coverage of Šiaulių Bankas

    Source: GlobeNewswire (MIL-OSI)

    31 January 2025. WOOD & Co, a leading regional investment bank in Emerging Europe, has reinitiated independent equity research coverage of Šiaulių Bankas (SAB1L). The initiation report includes an analysis suggesting a target price of EUR 0.96.

    WOOD & Company Financial Services teams, located in Warsaw, Prague, Bucharest, Bratislava, Milan and London are highly experienced, have deep roots in Emerging Europe, providing wide range of products and services for investors, including Equity Sales, Electronic Trading, DMA and FIX, Equity Structured Products, Equity Research and Equity Capital Markets.

    Šiaulių Bankas stock is also covered by Swedbank, Estonian investment research firm Enlight Research, Norwegian investment bank Norne Securities and Erste Group Research. The analysts’ evaluations are available to investors on Šiaulių Bankas IR website.

    If you would like to receive Šiaulių Bankas news for investors directly to your inbox, subscribe to our newsletter.

    Additional information: 
    Tomas Varenbergas 
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    The MIL Network –

    January 31, 2025
  • MIL-OSI Banking: Pension sector almost regains loss from 2022

    Source: Danmarks Nationalbank

    Insurance and pension

    31 January 2025Statistics period: December 2024

    Danish insurance and pension companies achieved a return of kr. 344 billion in 2024. Overall, the nominal return has been kr. 675 billion over the past two years, which means that the loss in 2022 has almost been recovered. A loss that was mainly due to capital losses in the financial markets due to, among other things, inflation, and interest rate increases. The high return in 2024 is primarily driven by the gains on the US stock market, and more than half of the pension return in 2024 came from listed US stocks; in particular, shares in technology companies such as NVIDIA, Apple and Amazon contributed with significant gains. Investments in the US account for a quarter of total pension investments and thus have a significant impact on Danish pension returns. The positive returns benefit not only pension customers, but also government finances through increased tax revenues from the so-called pension return tax, PAL tax.



    The pension sector achieved a return of kr. 344 billion in 2024

    Note:

    Danish insurance and pension companies’ returns on investments 2018-2024. Life insurance companies and pension funds as well as ATP are included in the statistics. Find chart data in the Statbank.

    MIL OSI Global Banks –

    January 31, 2025
  • MIL-OSI: Webcast details for Capital Markets Day presentation on 12 February 2025

    Source: GlobeNewswire (MIL-OSI)

    Orrön Energy AB (“Orrön Energy”) will publish its financial report for the fourth quarter and full year 2024 on Wednesday 12 February 2025 at 07:30 CET, followed by a Capital Markets Day presentation at 14:00 CET.

    Listen to Daniel Fitzgerald, CEO and Espen Hennie, CFO commenting on the report and presenting the latest developments in Orrön Energy and its future growth strategy, together with members of Orrön Energy’s management team, at a webcast held on 12 February 2025 at 14:00 CET. The presentation will be followed by a question-and-answer session.

    Follow the presentation live on the below webcast link:
    https://orron-energy.events.inderes.com/cmd-2025

    For further information, please contact:

    Robert Eriksson
    Corporate Affairs and Investor Relations
    Tel: +46 701 11 26 15
    robert.eriksson@orron.com

    Jenny Sandström
    Communications Lead
    Tel: +41 79 431 63 68
    jenny.sandstrom@orron.com

    Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: “ORRON”) renewable energy company within the Lundin Group of Companies. Orrön Energy’s core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics, the UK, Germany and France. With significant financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition.

    Forward-looking statements
    Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise.

    Attachment

    • Orrön Energy – Webcast details Q4 and CMD – 31012025en

    The MIL Network –

    January 31, 2025
  • MIL-OSI: Inbank Financial Calendar for 2025

    Source: GlobeNewswire (MIL-OSI)

    AS Inbank has approved the company’s Financial Calendar for the 2025 financial year, according to which Inbank plans to disclose information and hold the Annual General Meeting of shareholders as follows:

    25.02.2025       Q4 and 2024 full year Unaudited Interim Report
    05.03.2025       2024 Audited Annual Report
    31.03.2025        Annual General Meeting
    06.05.2025       Q1 Interim Report
    05.08.2025       Q2 Interim Report
    05.11.2025         Q3 Interim Report

    Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with 6,200 merchants, Inbank has 881,000+ active contracts and collects deposits across 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.

    Additional information:
    Styv Solovjov
    AS Inbank
    Head of Investor Relations
    +372 5645 9738
    styv.solovjov@inbank.ee

    The MIL Network –

    January 31, 2025
  • MIL-OSI China: ‘Ne Zha 2’ designer discusses new characters and creative process

    Source: China State Council Information Office 3

    Shen Wei, the character designer behind China’s top-grossing animated film “Ne Zha,” recently spoke with China.org.cn about his challenging journey in designing characters for “Ne Zha 2,” following the overwhelming success of the original film in 2019.

    Shen Wei, the character designer for the “Ne Zha” series. [Photo courtesy of Coloroom Pictures]

    “Ne Zha 2” joined the highly vibrant Spring Festival film season lineup and debuted on Jan. 29. Building on the remarkable success of its predecessor, this five-year project continues to draw inspiration from the mischievous yet endearing character from the Ming dynasty novel (1368-1644) “The Investiture of the Gods.” It also introduces a “dimensional upgrade” that includes new characters, thrilling battle scenes, more than 1,900 visual effect shots, and enhanced details for IMAX.

    When discussing the challenges of character design amid high audience expectations after a five-year wait, Shen emphasized the importance of two concepts: continuity and innovation.

    “I believe finding the right balance between continuity and innovation is essential,” Shen said. “The audience has already embraced elements of the original, so it’s impossible to completely break away from the established framework. Our approach is to carry forward the essence of the first film into the sequel while innovating and improving on existing techniques.”

    “Ne Zha 2” includes a substantial increase in new characters, tripling the number from the first film. A promotional video reveals that nearly every character has received unique battle designs instead of reusing previous designs. Shen noted that this approach demanded considerable effort and time. His goal was to immerse the audience in a story that feels authentic and engaging, ensuring that each character is fully developed and relatable.

    Designs for several characters from “Ne Zha 2.” [Image courtesy of Coloroom Pictures]

    “I’d like to clarify that while I contributed to many of the characters in the films, such as the soldiers and sea creatures, I did not create them alone. They were created by many team members due to the substantial workload,” Shen explained. “However, we all share the same principle that our character designs must serve the film and its storytelling.”

    One new character that impressed Shen is Ao Shun, a legendary dragon king. His complex armor, made entirely of blades, along with his unique fighting style, presented significant development challenges. Shen worked closely with Yang Yu, the creator of the “Ne Zha” film series, known by his nickname Jiaozi, to explore various iterations of the character’s costume and performance style. Despite these challenges, overcoming obstacles in designing Ao Shun made the creative process particularly memorable for Shen.

    Shen also shared an intriguing behind-the-scenes story about Jiaozi. “There were times when I might not fully grasp the specific points Jiaozi wanted to convey,” Shen said. “In those cases, he often performed the characters in person or via video calls to help me understand them better. Pure textual descriptions could be difficult to fully comprehend. When you incorporated performance elements – such as actions, expressions, and tone, as Jiaozi did – everything changed.”

    In 2019, the first installment grossed over 5 billion yuan ($690 million) in the Chinese market and $726 million worldwide, according to Box Office Mojo. It received a positive response from international audiences. Regarding his expectations for “Ne Zha 2,” Shen expressed hope that the film would convey Eastern culture, aesthetics, and the core spirit of the Chinese nation to global viewers, further promoting cultural heritage worldwide.

    A poster for “Ne Zha 2.” [Image courtesy of Coloroom Pictures]

    Enlight Media’s Coloroom Pictures has announced that “Ne Zha 2” will open in a wide range of global markets, including North America, Australia, Japan, Saudi Arabia, Iraq and South Africa, though specific release dates have yet to be set.

    Looking ahead, Shen expressed a strong interest in exploring projects that involve extraterrestrial and futuristic creatures amid the resurgence of Chinese animation. Such themes, he said, “allow me to explore new ideas and unleash my imagination.” He noted that character design is a creatively rich and rewarding process.

    “As part of the industry, we look forward to a vibrant landscape where diverse types of animation can be presented, enabling various audiences to discover what they enjoy,” added Shen.

    MIL OSI China News –

    January 31, 2025
  • MIL-OSI USA: Padilla Questions FBI Director Nominee Kash Patel on Lack of Independence, Experience During Nomination Hearing

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla Questions FBI Director Nominee Kash Patel on Lack of Independence, Experience During Nomination Hearing

    WATCH: Padilla slams Patel for dodging questions on background checks and civilian machine gun ownershipWASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) questioned Kash Patel, nominee for Director of the Federal Bureau of Investigation (FBI), during a Senate Judiciary Committee hearing. Padilla raised serious concerns about Patel’s fitness to lead the FBI independently, citing his lack of law enforcement experience, history of spreading falsehoods, and threats to weaponize the Bureau against political opponents.
    Patel has published a political enemies list, threatened to prosecute journalists, and has even said he plans to “shut down the FBI Hoover Building on Day 1 and reopen it the next day as a museum of the “deep state.” Padilla directly challenged Patel on his past public statements that FBI agents and officials are “corrupt gangsters.”
    As FBI Director, Patel would oversee the National Instant Criminal Background Check System and regulate machine gun distribution. Yet Patel repeatedly dodged questions on the constitutionality of universal background checks for firearm purchases and on whether civilian ownership of machine guns should be legal. His nomination has been praised by Gun Owners of America, a group that opposes background checks and claims that machine guns are protected under the Second Amendment — positions far outside the mainstream of law enforcement and public safety policy.
    Padilla also confronted Patel about his role in financially supporting insurrectionists convicted for their roles in the January 6 attack on the U.S. Capitol. He has raised money for the families of convicted January 6th rioters — yet he has not made similar efforts to support the police officers who were beaten, tased, and attacked defending the Capitol that day. Patel’s selective advocacy raises serious concerns about where his loyalties lie and whether he would prioritize law enforcement or political extremists as FBI Director.
    Padilla called out Patel for his reckless actions during a high-stakes national security operation. While serving as Senior Director for Counterterrorism at the National Security Council, Patel provided false information to senior leadership during a SEAL Team hostage rescue mission in Nigeria. According to former Secretary of Defense Mark Esper, Patel falsely claimed that the United States had secured permission to fly over foreign airspace, a misrepresentation that delayed the mission and put American lives at risk. When confronted by Padilla, Patel failed to own up to his serious lapse in judgement in this situation.
    Key Excerpts:
    PADILLA: Mr. Patel, do you believe that background checks for firearm purchases are constitutional?
    PATEL: I don’t know the in-depths of it, but I think that’s what the Supreme Court has said, Senator.
    PADILLA: So the word would be Y-E-S, yes. Can you say yes, are background checks constitutional?
    PATEL: I can say whatever the Constitution and the Supreme Court ruled is the rule of the land.
    PADILLA: And what is the rule, the law of the land at the moment?
    PATEL: I’m not an expert on state-by-state background checks.
    PADILLA: … Let me ask you another question. Do you believe that civilian ownership of machine guns are protected by the Second Amendment?
    PATEL: Universal background checks are different. That’s not–
    PADILLA: I asked you a separate question. Do you believe civilian ownership of machine guns is protected by the Second Amendment?
    PATEL: Whatever the courts rule in regards to the Second Amendment is what is protected by the Second Amendment.
    PADILLA: Yet another telling response, colleagues, on another important issue.
    PADILLA: … Colleagues, we’ve been hearing a lot of partial responses and lack of recollections throughout the day, and I can’t help but identify the pattern of Mr. Patel calling FBI leadership corrupt, labeling agents as gangsters, accusing them of being part of a criminal “Deep State” conspiracy. We’ve heard of his experience with the J6 prison choir, a group of individuals convicted for their roles in the January 6 insurrection. We’ve heard his false claims that the U.S. has secured airspace permissions during a high stakes SEAL team hostage rescue mission in Nigeria. I can go on and on. These positions are inconsistent with the role of FBI director, a position that demands independence, professionalism, and unwavering commitment to the rule of law. Mr. Patel, your loyalty to President Trump and the MAGA movement may score you points in some quarters, but they are certainly not the qualities necessary to serve as director of the FBI.
    Video of Padilla’s first round of questioning is available here. His second round of questioning is available here.
    Yesterday, Senator Padilla joined all Democrats on the Senate Judiciary Committee in requesting urgent access to critical materials directly pertaining to Kash Patel’s nomination.

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI USA: Murray, Budget Committee Democrats, Leader Schumer Press to Delay Vought’s OMB Nomination

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    WASHINGTON, D.C. – Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former Chair of the Senate Budget Committee, joined every other Democratic member of the Budget Committee and Senate Democratic Leader Chuck Schumer (D-NY) in demanding that Chairman Lindsey Graham (R-SC) delay Russell Vought’s nomination to serve as Director of Office of Management and Budget (OMB) until he satisfactorily answers questions regarding his advice to the President relating to the illegal impoundment of Congressionally appropriated funds – questions that have taken on greater urgency in light of OMB’s directive “to freeze all funding for ‘Federal financial assistance programs.’”

    “While Mr. Vought stonewalled Committee members, he was already planning on halting programs that feed hungry children, heat the homes of low-income families, support farmers, and bring relief to those suffering from natural disasters. The laws Congress passes are not suggestions, and Mr. Vought willfully ignoring them harms the constituents of every Member of the Committee,” the senators wrote.

    The senators called for the Budget Committee to postpone the vote on Vought for two weeks while they get full and complete responses to questions from the nominee.

    The senators wrote, “It is simply unconscionable that the Budget Committee could vote to confirm Mr. Vought to be Director of Office of Management and Budget without getting some real answers from him about his ongoing efforts to stymie the will of Congress. Mr. Vought is a clear and present danger to Congress’s Power of the Purse; his outright refusal to discuss his plans that were already in development is a slap in the face to every Member of the Committee, Democrat and Republican alike.”

    The letter was signed by all the Democrats of the Senate Budget Committee—Ranking Member Jeff Merkley (D-OR), Patty Murray (D-WA), Ron Wyden (D-OR), Bernie Sanders (I-VT), Sheldon Whitehouse (D-RI), Mark Warner (D-VA), Tim Kaine (D-VA), Chris Van Hollen (D-MD), Ben Ray Luján (D-NM), and Alex Padilla (D-CA)—and Leader Schumer.

    A copy of the letter is available here or below:

    Dear Senator Graham:

    During the Budget Committee’s hearing on Wednesday, January 22 to examine the nomination of Russell T. Vought to serve as the Director of Office of Management and Budget, Mr. Vought was repeatedly evasive about whether, if confirmed, he would advise the President to impound Congressionally-appropriated funds in clear violation of Article II of the Constitution and the unambiguous text of the Impoundment Control Act of 1974.

    In written responses to questions following the hearing, Mr. Vought continued his refusal to answer direct questions about how executive orders to pause foreign aid funding, as well as funding authorized and appropriated by the Inflation Reduction Act and the Infrastructure Investment and Jobs Act, complied with the law.

    Now, less than a week after the hearing, it is clear that Mr. Vought’s non-answers were an effort to thwart the Committee from getting the truth of the Trump administration’s plan, per OMB memorandum M-25-13, to freeze all funding for “Federal financial assistance programs.” While Mr. Vought stonewalled Committee members, he was already planning on halting programs that feed hungry children, heat the homes of low-income families, support farmers, and bring relief to those suffering from natural disasters. The laws Congress passes are not suggestions, and Mr. Vought willfully ignoring them harms the constituents of every Member of the Committee.

    It is simply unconscionable that the Budget Committee could vote to confirm Mr. Vought to be Director of Office of Management and Budget without getting some real answers from him about his ongoing efforts to stymie the will of Congress. Mr. Vought is a clear and present danger to Congress’s Power of the Purse; his outright refusal to discuss his plans that were already in development is a slap in the face to every Member of the Committee, Democrat and Republican alike.

    For those reasons, we request that the business meeting to consider Mr. Vought’s nomination, currently scheduled for Thursday, January 30, be postponed for two weeks so the Committee may get full responses to the questions Mr. Vought has thus far refused to answer.

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI Australia: Arrest – Domestic Violence – Papunya

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force have arrested a 51-year-old man in relation to a domestic violence incident that occurred in Papunya yesterday.

    Shortly after 12am on 30 January, police received reports that the 51-year-old man was driving a vehicle dangerously within the community. The offender has allegedly intentionally struck a 26-year-old male relative before exiting the vehicle and making threats with a machete.

    The 26-year-old victim was taken to the local clinic with a suspected fractured pelvis and spine.

    The 51-year-old was arrested and currently remains in custody with charges expected to laid.

    Investigations are ongoing and police urge anyone with information to call police on 131 444 and quote reference P25029611 . Anonymous reports can also be made through Crime Stoppers on 1800 333 000.

    Support services for those affected by domestic or family violence are available, including 1800RESPECT (1800 737 732) and Lifeline (13 11 14).

    MIL OSI News –

    January 31, 2025
  • MIL-OSI USA: Hawley Secures Promises from Kash Patel to Clean Up FBI, End Biden’s Abuses

    US Senate News:

    Source: United States Senator Josh Hawley (R-Mo)

    Thursday, January 30, 2025

    U.S. Senator Josh Hawley (R-Mo.) today secured the commitment of Kash Patel, President Donald Trump’s pick to lead the Federal Bureau of Investigation (FBI), to end the Biden-era FBI attacks on Christians and parents and seek accountability for those responsible. 
    During his Senate Judiciary confirmation hearing, Patel assured Senator Hawley that he would, “[F]ully utilize, if confirmed, the investigative powers of the FBI to give you the information you require and also to hold those accountable who violated the sacred trust placed upon the FBI.”
    [embedded content]
    Watch the full exchange here, or click on the image above. 
    Senator Hawley highlighted the FBI’s political persecutions of pro-life Christians exercising their faith, parents speaking out at school-board meetings, and Americans posting about politics on social media. 
    “Do you think it’s appropriate for the FBI to single out and target people of faith in order to discourage the exercise of their First Amendment rights?” Senator Hawley asked Patel. 
    The Senator continued, asking “Do you think it’s appropriate for the FBI to try to pressure the largest technology corporations in the world . . . to censor the political speech of everyday American citizens to try and violate the First Amendment?”
    Patel unequivocally condemned the Biden Administration’s miscarriage of justice and vowed to deliver Americans the “new brand of justice” they deserve.

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI USA: Murphy To RFK Jr.: It Isn’t Believable You Will Become Consistent With Science If You Become HHS Secretary

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    January 30, 2025

    [embedded content]

    WASHINGTON—U.S. Senator Chris Murphy (D-Conn.), a member of the U.S. Senate Health, Education, Labor, and Pensions Committee, on Thursday questioned Robert F. Kennedy Jr. at a hearing on his nomination for Secretary of Health and Human Services. Murphy challenged Kennedy’s credibility and pressed him on past statements comparing America’s vaccine program to the Holocaust and the Catholic Church’s pedophilia scandal. Murphy argued that Kennedy’s long history of spreading misinformation about vaccines raises serious concerns about his ability to lead HHS, emphasizing the need for a Secretary who prioritizes science and public trust.

    A full transcript of Murphy’s exchange with Kennedy can be found below:

    MURPHY: “Thank you very much, Mr. Chairman. Mr. Kennedy, thank you for joining us here today. Listen, credibility matters so much when you lead the most important health agency in the world. The Secretary of HHS has got to be trusted that he’s telling the truth, that he cares about science, [and] has no political agenda.

    “Mr. Kennedy, I want to go back to some of your testimony yesterday, before the Finance Committee, when you either feigned ignorance about some very clear statements that you have made in the past, or you outright denied saying things about the vaccine program that you have undoubtedly said.

    “So with a day’s hindsight, I want to give you another chance to be honest about the things you have said. Senator Warnock asked you yesterday if you had compared America’s vaccine program to the Catholic Church’s pedophilia scandal. You said you never said that. Now I’m not asking you to explain what you said.”

    KENNEDY: “I didn’t say I never said that. I did not say that I hadn’t said that, Senator. I said [I didn’t say] the other question he asked me, about the Nazi death camps.”

    MURPHY: “That’s fine, you’re doubling down on that. Senator Warnock also asked you if you compared America’s vaccine campaign to the Nazi death camps and the Holocaust. Again, you said yesterday you didn’t say that.”

    KENNEDY: “I did not say that.”

    MURPHY: “Senator Bennett asked you yesterday if you had made an allegation that AIDS is a different disease in Africa than it is in America. On that one you said you didn’t recall. Having had a day to think about it, do you recall saying that AIDS is a different disease in Africa than it is in the United States?”

    KENNEDY: “I looked up that passage in my book and found that indeed the diagnostics for AIDS are very different in Africa and the United States– that the list of symptoms is almost completely different.” 

    MURPHY: “So let me just– I’ll submit this for the record, but having denied the first two statements, let me just read what you said. You said in 2013, ‘Is it hyperbole to say that the people who run our vaccine program should be in jail? They should be in jail. To me, this is like Nazi death camps. Look at what it does to the families [who participate in the vaccine program]. I can’t tell why somebody would do something like that. I can’t tell you why ordinary Germans participated in the Holocaust. I can’t tell you what was going on in their minds.’ 

    “With respect to the pedophilia scandal, you said: ‘The pedophilia scandal in the Catholic Church is a perfect metaphor for what’s happening in the United States. The vaccine program– it’s the same reason we had a pedophilia scandal in the Catholic Church. It’s because people were able to convince themselves that the institution of the church was more important than these little boys and girls who were being raped. 

    “I don’t disagree with Senator Mullin. I don’t want a HHS Secretary that’s not going to question science. I think it’s important to question science. But you’re not questioning science– you’ve made up your mind. You have spent your entire career undermining America’s vaccine program. You make these purposeful comparisons to those that are administering the vaccine program to the Nazi executioners, to the people who covered up the Catholic Church’s pedophilia scandal, because you have made a decision that there is a comparison; that there is evil in the vaccine program as there was evil in the pedophilia scandal and the Nazi death camps. 

    “You aren’t exploring science, you have made up your mind. You have spent your entire career trying to undermine these programs. The reason that these statements–these incredibly aggressive, over-the-top statements–matter to us is because it just isn’t believable that when you become secretary, you are all of a sudden going to be consistent with science. People who have spent their career saying these kinds of things, running the kinds of campaigns that you have run, don’t all of a sudden change their stripes. So Mr. Chairman, I will submit these statements into the record.”

    KENNEDY: “Can I respond to that, Senator? My statement about the Catholic Church is almost identical to the findings of the Government Oversight Investigation Committee that investigated the CDC’s vaccine program in 2003. Senator Burr was Chairman of that committee. And he said that the certain individuals in that program had written off a generation of kids because of ‘misplaced institutional loyalty to the CDC’ and because of ‘entanglements with the drug companies.’”

    MURPHY: “You equate pedophilia to the administration of vaccines?”

    KENNEDY: “It wasn’t pedophilia.”

    MURPHY: “You said it was a perfect metaphor.” 

    KENNEDY: “If you have one in 36 kids who has neurological injuries, and if that is linked, that should be studied.”

    MURPHY: “Is it a perfect metaphor?”

    KENNEDY: “It’s not a perfect metaphor, but there’s no metaphor that’s perfect. I am pro-vaccine. I am going to support the vaccine program. I want kids to be healthy, and I’m coming in here to get rid of the conflicts of interest within the agency and make sure that we have gold standard, evidence-based science. And if you show me where I’m wrong on this, show me a single statement I’ve made about science that is erroneous.”

    MURPHY: “Thank you.”

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI USA: Grassley Secures HHS Nominee Kennedy’s Support for Rural Health Care, Ag, Key Agency Issues

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Sen. Chuck Grassley (R-Iowa), a senior member and former chairman of the Senate Finance Committee, laid out his priorities and expectations for the Department of Health and Human Services (HHS) during a hearing to consider Robert F. Kennedy, Jr. to be HHS Secretary. Grassley discussed the importance of lowering prescription drug prices, holding pharmacy benefit managers accountable, bolstering rural health care, answering congressional oversight and more.
    In response to Grassley, Kennedy said: “I agree with all those provisions, Senator. My approach to the administration of HHS will be radical transparency. If members of this committee or other members of Congress want information, the doors are open… If Congress asked me for information, you would get it immediately.”
    Video and excerpts from Grassley follow.
    [embedded content]
    VIDEO
    Oversight: 
    “A key responsibility of each member of Congress is oversight. Oversight allows us to hold bureaucrats accountable to the rule of law, and it helps keep faith with taxpayers. I expect HHS to provide timely and complete responses to congressional oversight.”
    PBMs: 
    “I’ve been working to hold Pharmacy Benefit Managers (PBMs) accountable in order to lower prescription drug costs. I expect you to work with us to hold PBMs accountable and ask for your support for legislation that’s before Congress.”  
    Prescription Drug Pricing: 
    “Senator Durbin and I have been trying to get a bill passed that requires price disclosures on TV ads for prescription drugs. Knowing what something costs before buying it is just common sense. President Trump tried to do this by regulation in his first term and Vice President Vance cosponsored our bill last Congress. I ask you to support my bill, or if you can do it by regulation, do it by regulation.”
    Rural Health Care: 
    The previous administration dragged its feet in opening up slots for the Rural Community Hospital demonstration program. It also ignored concerns from rural pharmacies when implementing changes to Medicare Part D and ignored rural needs when it comes to distributing physician residency slots. I expect you to prioritize rural Americans’ health care needs.”
    Agriculture: 
    “In our meeting earlier this month, we talked at length about agriculture. You prefaced the conversation by saying you will not have jurisdiction over those issues. I expect you to leave agricultural practices regulations to the proper agencies, and for the most part that’s USDA and EPA.”
    Dietary Guidelines: 
    “I’ve sent letters to the Secretaries of Agriculture and HHS requesting they provide information regarding conflicts of interest on the Dietary Guidelines Advisory Committee to increase transparency. I expect you to provide Congress with confidential financial disclosures from the Advisory Committee before finalizing the Dietary Guidelines, so we know that nobody has a vested interest in it.”
    HHS Office of Refugee Resettlement Oversight (ORR): 
    “Last year, I expanded my investigation into HHS’s Office of Refugee Resettlement. I wrote to two dozen contractors and grantees whose job it is to place unaccompanied children with sponsors. In many cases, children have been placed with improperly vetted sponsors, placing them at risk of trafficking. The Biden administration’s HHS directed these taxpayer-funded contractors and grantees to not respond to my inquiry. This is obstruction by the executive branch. 
    “I expect you to produce to me the records and data I’ve requested and instruct HHS contractors to fully cooperate as well. I also expect HHS to not retaliate against any whistleblowers, including those who identify ORR’s failures in vetting sponsors of unaccompanied [children].”
    -30-

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI USA: Grassley, Johnson Make Public Whistleblower Records Revealing DOJ and FBI Plot to Pin Trump in Jack Smith Elector Case

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) and Permanent Subcommittee on Investigations Chairman Ron Johnson (R-Wis.) are releasing legally protected whistleblower disclosures that prove the genesis of the federal election interference case brought against President Trump began at the hands of a prolific anti-Trump FBI agent who acted outside of established protocol for opening cases.
    Internal FBI emails and predicating documents provided to Grassley and released jointly by the two senators show Timothy Thibault, a former FBI Assistant Special Agent in Charge (ASAC) who was forced to retire from the Bureau after Grassley exposed his public anti-Trump bias, authored the initial language for what ultimately became Jack Smith’s federal case against Trump regarding the 2020 presidential election. Records show Thibault essentially opened and approved his own investigation. The FBI titled the ensuing investigation “Arctic Frost.”
    Records further reveal Richard Pilger, an official in the Justice Department (DOJ)’s Public Integrity Section, reviewed and approved the FBI’s Arctic Frost investigation, authorizing DOJ to move forward with a full field criminal and Grand Jury investigation that ultimately transformed into the Trump elector case. Grassley published a 2021 report that raised concerns regarding Pilger’s troubling record at DOJ.
    Grassley in 2022 additionally questioned Thibault’s role at the FBI, writing, “I remain very concerned that political bias by a select group of Justice Department and FBI officials has infected the Justice Department’s and FBI’s usual process and procedure to open and pursue high-profile and politically charged investigations.” Grassley and Johnson in November called on Jack Smith to preserve all records related to Trump-targeted investigations.
    The records released by Grassley and Johnson are linked below:
    Grassley provided an overview of the records in his opening statement during the Senate Judiciary Committee’s hearing on Kash Patel’s nomination to be FBI Director. Excerpts from Grassley’s opening statement follow:
    “In my hand are a series of FBI emails.
    “The first is an email that Thibault sent to a subordinate agent on February 14, 2022.
    “He said, ‘Here is draft opening language we discussed.’  The draft opening was attached, and it included material that would later become part of Jack Smith’s elector case.
    “The second email is a February 24, 2022, email from Thibault to John Crabb, a prosecutor in the U.S. Attorney’s Office for the District of Columbia, saying, ‘I had a discussion with the case team and we believe there to be predication to include former President of the United States Donald J. Trump as a predicated subject.’  This FBI case would later be codenamed Arctic Frost.
    “The third email is a February 24, 2022, email from Thibault to John Crabb noting that Attorney General and FBI Director approval will be sought to open the case.
    “The fourth email is a February 25, 2022, email from Thibault’s subordinate agents saying they added Trump, and others, as a criminal subject to the case.  Thibault responded ‘Perfect.’
    “The fifth email is a March 22, 2022, email from Thibault emailing a version of an investigative opening for approval.  This didn’t include President Trump as a criminal subject. 
    “The sixth email is an April 11, 2022, email from Thibault approving the opening of Arctic Frost.
    “The seventh email is an April 13, 2022, email from an FBI agent to Thibault stating that the FBI Deputy Director approved its opening. 
    “The eighth email on that same date had Thibault emailing John Crabb that the elector case was approved.  Crabb responded, ‘Thanks a lot. Let’s talk next week.’
    “Between March 22 and April 13, other versions of the document opening the investigation existed, because a ninth email shows that the FBI General Counsel’s office made edits on March 25. 
    “Was Trump still removed as an investigative subject?  If so, which Justice Department and FBI officials – other than Jack Smith – later added him for prosecution?
    “I expect the production of all records on this matter to better understand the full fact pattern and whether other records exist.”
    -30-

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI Australia: More than 5000 Australian victims receive text warning over romance scam

    Source: Australian Competition and Consumer Commission

    This is a joint media release between the AFP, National Anti-Scam Centre, Philippines Presidential Anti-Organized Crime Commission and National Bureau of Investigation

    Editor’s note: Text message screenshot, images from investigation, and audio grabs from AFP Commander Graeme Marshall are available via Hightail

    Authorities have texted more than 5000 potential victims in Australia to warn they may have been targeted by romance scammers based in the Philippines.

    The National Anti-Scam Centre (NASC), in partnership with the AFP-led Joint Policing Cybercrime Collaboration Centre (JPC3), has today texted potential victims, who are mostly male, urging them not to send money to people they’ve met online and outlined next steps to take if they have already sent money to the scammers.

    The potential victims were identified following an investigation by Philippines authorities into a scam compound operating in central Manila, in November 2024.

    More than 300 computer towers, 1000 mobile phones, and thousands of SIM cards were located by Philippines authorities and evidence gathered during the investigation has been shared with international law enforcement partners to help identify potential victims, including those who may not be aware they have been targeted.

    Under Operation Firestorm, the JPC3 identified more than 5000 Australian-based phone numbers linked to messages found on an end-to-end encryption platform on the devices.

    Operation Firestorm is a global operation launched by the JPC3 in August 2024, to address and disrupt offshore organised crime networks deceiving Australians through romance, cryptocurrency and investment scams. 

    The significant amount of technology located during the operation required extensive analysis, and JPC3 technical and cryptocurrency experts spent hundreds of hours extracting crucial evidence.

    It is alleged the scammers, using popular online dating apps, tricked victims into a fake online romantic relationship, before convincing them to purchase legitimate cryptocurrency. They would request a minimum first investment between AUD $300 – $800 dollars, before encouraging the victim to invest more money.

    The suspected scammer would then deceive the victim into transferring funds from the legitimate crypto exchange account into the scammer’s account.  

    Most of the Australian victims targeted were men over 35. The fraudsters posed as either a Filipino female working in Australia or a local female resident in the Philippines.

    The investigation has so far resulted in the arrest of more than 250 suspects by Philippine law enforcement authorities.  

    AFP Commander Cybercrime Operations Graeme Marshall said the investigation highlighted the importance of international partnerships in disrupting serious organised cybercrime networks while supporting victims.

    “The AFP worked closely with our partners, the National Anti-Scam Centre and Philippines Presidential Anti-Organized Crime Commission and the National Bureau of Investigation, to ensure Australians targeted by this malicious scam were identified and given advice to help protect themselves online,” AFP Cmdr Marshall said.

    “We urge anyone who received a text message warning from the National Anti-Scam Centre to take it very seriously and refrain from sending money to people you’ve met online.

    “If you have already sent someone money or cryptocurrency, please report it to your bank immediately, then to police via ReportCyber. To help others avoid similar scams, you can also report it to ScamWatch.

    “When it comes to romance scams, our message to the public is simple: protect your heart and your wallet. If it feels too good to be true, it probably is.

    “There are many warning signs someone you’ve met online could be trying to scam you. In this case, the scammer would ask to move the conversation from an online dating app to an end-to-end encryption messaging platform.

    “Cybercriminals commonly use this technique to protect themselves from being reported and removed from online dating or social media platforms.

    “We urge the public to familiarise themselves with the warning signs of romance scams to help protect themselves, loved ones, friends and family when interacting with people online.”

    Australian Competition & Consumer Commission Deputy Chair Catriona Lowe said in 2024, Australians reported losing $23.6 million to dating and romance scams.

    “Romance scammers prey on people seeking connection.  Criminals build trust over time and often abuse this trust by encouraging people to make large investments leaving victims with significant financial losses and emotional distress,” Ms Lowe said.

    “We encourage people to always independently verify any investment opportunity via trusted sources such as an Australian registered financial advisor.”

    How to stop, check and protect yourself from romance scams

    • Never send money or cryptocurrency to anyone you’ve met online. Be sceptical of any requests for money, no matter how genuine the story may seem.
    • Verify the person’s identity. Take things slow and be wary if their story doesn’t add up or if they refuse to video chat or meet in person. Conduct reverse image searches on their profile pictures at https://images.google.com.
    • Beware of overly affectionate behaviour. If someone you’ve just met online starts professing love quickly, it’s a red flag.
    • Be careful of what you share. Never disclose personal information or send intimate photos to people you don’t know as this may be used to blackmail you or steal your identity.

    What to do if you’re a victim of a scam

    • Stop all communication with the scammer
    • Take screenshots of conversations and profiles before blocking the scammer on all platforms.
    • Contact your bank if you have transferred money or suspect unusual account activity.
    • Report it to police at www.cyber.gov.au.
    • Report suspected scams to www.scamwatch.gov.au to help others avoid similar scams.
    • If you were contacted via social media, report it to the social media platform.
    • Use strong, unique passphrases on your accounts and enable Multi-Factor Authentication wherever possible.
    • If you are concerned your identity has been compromised, contact the national identity and cyber support service, IDCARE, at www.idcare.org. 
    • If you, or someone you know needs help, we encourage you to contact Lifeline on 13 11 14 or Beyond Blue on 1300 224 636, who provide 24/7 support services.

    The JPC3 brings together Australian law enforcement and key industry and international partners to fight cybercrime and prevent harm and financial loss to the Australian community.

    We are committed to equipping all Australians with the knowledge and resources to protect themselves against cybercrime.

    Watch our cybercrime prevention videos and protect yourself against being a victim.

    If there is an immediate threat to life or risk of harm, call 000.

    Media enquiries:
    AFP Media: (02) 5126 9297

    MIL OSI News –

    January 31, 2025
  • MIL-OSI: Viper Energy Announces Pricing of Upsized Class A Common Stock Offering

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, Jan. 30, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ: VNOM) (“Viper”) announced today the pricing of an underwritten public offering of 24,640,000 shares of its Class A common stock at a price to the public of $44.50 per share (the “Primary Offering”). Viper’s offering of 24,640,000 shares of Class A common stock represents a 2,640,000 share upsize to the originally proposed 22,000,000 share offering. The underwriters have a 30-day option to purchase up to an additional 3,696,000 shares of Class A common stock from Viper at the public offering price (less the underwriting discount).

    Net proceeds to Viper from the sale of the 24,640,000 shares of its Class A common stock, after the underwriting discount and estimated offering expenses, will be approximately $1.1 billion (or $1.2 billion, if the underwriters exercise their option in full).

    Viper intends to use the net proceeds from the Primary Offering to fund the cash consideration for its previously announced pending acquisition of all of the equity interests of certain mineral and royalty-interest owning subsidiaries of Viper’s parent, Diamondback Energy, Inc. (the “Pending Drop Down”), if it closes. If the Pending Drop Down does not close, Viper will use the net proceeds from the Primary Offering for general corporate purposes.

    The Primary Offering is expected to close on February 3, 2025, subject to customary closing conditions.

    J.P. Morgan, Citigroup, Mizuho and Morgan Stanley are acting as joint book-running managers for the Primary Offering. Copies of the written base prospectus and prospectus supplement for the Primary Offering may be obtained on the website of the Securities and Exchange Commission, www.sec.gov or, when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146; Mizuho Securities USA LLC, Attn: Equity Capital Markets, 1271 Avenue of the Americas, New York, New York 10020, by telephone at 1-212-205-7600 or by email at US-ECM@mizuhogroup.com; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

    The Class A common stock will be issued and sold pursuant to an effective automatic shelf registration statement on Form S-3ASR previously filed with the Securities and Exchange Commission (the “Registration Statement”).

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The Primary Offering may only be made by means of a prospectus supplement and related base prospectus.

    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

    The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this press release, regarding the completion of the Primary Offering, Viper’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “goal,” “plan,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Be cautioned that these forward-looking statements are subject to all of the risk and uncertainties, most of which are difficult to predict and many of which are beyond Viper’s control, incident to the development, production, gathering and sale of oil and natural gas. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, risks relating to the Pending Drop Down, including its consummation or the realization of the anticipated benefits and synergies therefrom. Actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, but not limited to, those set forth in Viper’s filings with the SEC, including the base prospectus and prospectus supplement relating to the Primary Offering, the Registration Statement, its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, under the caption “Risk Factors,” as may be updated from time to time in Viper’s periodic filings with the SEC. Any forward-looking statement in this press release speaks only as of the date of this release. Viper undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

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

    Austen Gilfillian
    +1 432.221.7420
    agilfillian@viperenergy.com

    Source: Viper Energy, Inc.

    The MIL Network –

    January 31, 2025
  • MIL-OSI: Mount Logan Capital Inc. Completes Strategic Minority Investment in Runway Growth Capital LLC

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Jan. 30, 2025 (GLOBE NEWSWIRE) — Mount Logan Capital Inc. (Cboe Canada: MLC) (“Mount Logan” or the “Company”) today announced it has successfully completed its previously announced minority investment in Runway Growth Capital LLC (“Runway”), alongside BC Partners and its affiliates, which are acquiring the remaining outstanding ownership in Runway. On closing, Mount Logan issued to former Runway members an aggregate of 2,693,071 common shares of Mount Logan at a deemed price of C$2.67, which was determined based on the 20-day volume-weighted average price prior to and including January 27, 2025.

    With approval of a new investment advisory agreement, Runway will continue to serve as investment adviser to its managed funds, including Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth Finance”), a business development company, and to other private funds. Mount Logan looks forward to working with BC Partners and Runway’s management and investment teams to capitalize on the opportunities available in the North American credit markets.

    Management Commentary

    Ted Goldthorpe, Chief Executive Officer and Chairman of Mount Logan, stated, “We are thrilled to officially welcome David and the talented team at Runway to the Mount Logan family. We are excited about partnering with the Runway team to scale their specialized capabilities in providing financing solutions to late-stage growth platforms. Since the announcement, we have already seen significant benefits of our alignment with the Runway team. Runway’s expertise enhances our credit capabilities, and we are confident in our ability to leverage their strong investment acumen to expand our product suite and further diversify our private credit fund offerings.”

    Advisors

    Wildeboer Dellelce LLP acted as Canadian legal counsel to Mount Logan. Simpson Thacher & Bartlett LLP acted as legal counsel to BC Partners. Oppenheimer & Co. Inc. acted as the exclusive financial advisor to Runway Growth Capital LLC. Wachtell, Lipton, Rosen & Katz acted as legal counsel to Runway Growth Capital LLC and Eversheds Sutherland (US) LLP acted as legal counsel to the independent directors of Runway Growth Finance.

    About Mount Logan Capital Inc.

    Mount Logan Capital Inc. is an alternative asset management and insurance solutions company that is focused on public and private debt securities in the North American market and the reinsurance of annuity products, primarily through its wholly owned subsidiaries Mount Logan Management LLC (“ML Management”) and Ability Insurance Company (“Ability”), respectively. Mount Logan also actively sources, evaluates, underwrites, manages, monitors and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.

    ML Management was organized in 2020 as a Delaware limited liability company and is registered with the SEC as an investment adviser under the Investment Advisers Act of 1940, as amended. The primary business of ML Management is to provide investment management services to (i) privately offered investment funds exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) advised by ML Management, (ii) a non-diversified closed-end management investment company that has elected to be regulated as a business development company, (iii) Ability, and (iv) non-diversified closed-end management investment companies registered under the 1940 Act that operate as interval funds. ML Management also acts as the collateral manager to collateralized loan obligations backed by debt obligations and similar assets.

    Ability is a Nebraska domiciled insurer and reinsurer of long-term care policies and annuity products acquired by Mount Logan in the fourth quarter of fiscal year 2021. Ability is also no longer insuring or re-insuring new long-term care risk.

    About Runway Growth Capital LLC

    Runway Growth Capital LLC is the investment adviser to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of a target of $30 million to $150 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit www.runwaygrowth.com.

    About Runway Growth Finance Corp.

    Runway Growth Finance is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth Finance is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940. Runway Growth Finance is externally managed by Runway Growth Capital LLC, an established registered investment advisor that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com.

    About BC Partners & BC Partners Credit

    BC Partners is a leading international investment firm in private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. For further information, visit www.bcpartners.com/credit-strategy.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions “seeks”, “expects”, “believes”, “estimates”, “will”, “target” and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of the Company regarding future results or events and are based on information currently available to it. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this release include, but are not limited to, statements relating to the Company’s business strategy, model, approach and future activities; portfolio composition, size and performance, asset management activities and related income, capital raising activities, future credit opportunities of the Company, portfolio realizations, the protection of stakeholder value, the expansion of the Company’s loan portfolio, including through its investment in Runway, synergies to be achieved by both the Company and Runway through the Company’s strategic minority investment, any future growth and expansion of each of both the Company and Runway, any change in earnings potential for the Company as a result of any growth of Runway, the business and future activities and prospects of Runway and the Company. All forward-looking statements in this press release are qualified by these cautionary statements. The Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, the Company can give no assurance that the actual results or developments will be realized by certain specified dates or at all. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including that the expected synergies of the investment in Runway may not be realized as expected; the risk that each of the Company and Runway may require a significant investment of capital and other resources in order to expand and grow their respective businesses; the Company has a limited operating history with respect to an asset management oriented business model and the matters discussed under “Risk Factors” in the most recently filed annual information form and management discussion and analysis for the Company. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.

    This press release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities in the Company or in any fund or other investment vehicle. This press release is not intended for U.S. persons. The Company’s shares are not registered under the U.S. Securities Act of 1933, as amended, and the Company is not registered under the U.S. Investment Company Act of 1940 (the “1940 Act”). U.S. persons are not permitted to purchase the Company’s shares absent an applicable exemption from registration under each of these Acts. In addition, the number of investors in the United States, or which are U.S. persons or purchasing for the account or benefit of U.S. persons, will be limited to such number as is required to comply with an available exemption from the registration requirements of the 1940 Act.

    Contacts
    Mount Logan Capital Inc.
    365 Bay Street, Suite 800
    Toronto, ON M5H 2V1
    info@mountlogancapital.ca

    Nikita Klassen
    Chief Financial Officer
    Nikita.Klassen@mountlogancapital.ca

    Scott Chan
    Investor Relations
    Scott.Chan@mountlogan.com

    The MIL Network –

    January 31, 2025
  • MIL-OSI China: Chinese fantasy epic film ‘Creation of the Gods II: Demon Force’ hits North American big screen

    Source: China State Council Information Office 3

    Chinese live-action, fantasy epic film “Creation of the Gods II: Demon Force” opened Wednesday, the Chinese Lunar New Year’s Day, in a limited theatrical release in North America.

    The highly-anticipated film is being released by Well Go USA Entertainment in Mandarin with English subtitles in over 180 selected theaters in more than 30 cities across North America, including Los Angeles, San Francisco, Las Vegas, Austin, Chicago, New York, Boston, Toronto, Vancouver and a few other cities with a large overseas Chinese population.

    The film is available in IMAX theaters starting Wednesday and will be available in both IMAX and other theaters starting Friday.

    Based on the Ming Dynasty (1368-1644) novel “Fengshen Yanyi,” or “The Investiture of the Gods,” the film is the second instalment of the Fengshen Trilogy and the sequel to 2023’s box office hit “Creation of the Gods I: Kingdom of Storms,” which grossed over 373 million U.S. dollars worldwide.

    Directed by Chinese filmmaker Wuershan, “Creation of the Gods II: Demon Force” stars Huang Bo, Yu Shi, Naernaxi, Chen Muchi, Kris Phillips (known in China as Fei Xiang), Naran among others.

    The film, released simultaneously in China and the United States, is a huge success in China with an impressive debut of 477 million yuan (around 65.78 million U.S. dollars), according to Chinese movie-ticketing and film data platform Maoyan.

    It has received positive feedback from Chinese moviegoers with a rating of 9.2 points out of 10 from over 49,000 viewers on the Maoyan platform. 

    MIL OSI China News –

    January 31, 2025
←Previous Page
1 … 812 813 814 815 816 … 1,007
Next Page→
NewzIntel.com

NewzIntel.com

MIL Open Source Intelligence

  • Blog
  • About
  • FAQs
  • Authors
  • Events
  • Shop
  • Patterns
  • Themes

Twenty Twenty-Five

Designed with WordPress