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Category: Fisheries

  • MIL-OSI Russia: Remembering Common History and Listening to Folklore: How to Celebrate National Unity Day in the Capital

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    From November 3 to 4, Moscow will celebrate one of the warmest holidays of autumn — National Unity Day. The capital will traditionally be decorated with congratulatory posters. They will be placed on billboards and bus stops. Russian tricolors will appear on the streets and in public transport. Residents and guests of the city will enjoy concerts, plays, reenactors’ performances, exhibitions and master classes. In total, over 200 events will be held. You can join them in parks, libraries, estates, museums and cultural centers. Most of the events will be free, but some will require pre-registration. You can follow the holiday schedule in the section “Poster” on the mos.ru portal.

    Particularly spectacular programs on the occasion of National Unity Day await guests atVDNKh and in the cinema park “Moschino”. At the country’s main exhibition, Muscovites and tourists will see the most famous places, learn about space programs, and will also be able to attend the “Bread Ear – Russia’s Gold” festival. It will include master classes with theatrical performances reflecting different eras in the country’s history. A large tent with four zones will be prepared for guests. They will be transported to the 12th, 17th, 19th and 20th centuries. There they will learn how to bake gingerbread, kalachi and bread according to traditional recipes. Admission is free, with prior registration on the exhibition website. http://vdnkh.ru/specials/day-of-national-unity/

    And on November 3 and 4, the Moskino cinema park will present a large-scale historical reconstruction dedicated to the liberation of Moscow from the Polish-Lithuanian invaders in 1612. It was this event that united the country. Guests of the cinema park will be able to travel back to those times and see how the militia of Kuzma Minin and Dmitry Pozharsky defeats the invaders in a decisive battle. Additional information and conditions of visit are published on the cinema park website “Moschino”.

    In order to visit several sites and not miss the most interesting, it is worth planning your weekend leisure in advance. You can move around the city comfortably on public transport. On Saturday, November 2, the metro, Moscow Central Circle, trams and ground transport will operate according to the working day schedule. On November 3 and 4 – according to the weekend schedule. For those who use a personal car, the Sunday parking payment regime will be in effect on November 3. You will have to pay only on streets with rates of 380, 450 and 600 rubles per hour, as well as in places where a dynamic rate is in effect. On National Unity Day, November 4, parking on all streets will be free. Parking lots with barriers will continue to operate on a paid basis on both weekends.

    Attend concerts and master classes in parks

    On November 4, the Severnoye Tushino Park is planning an entertainment program called “People’s Games.” Children and adults will be able to get in a good mood, find new friends, and just have fun. The events will start at 11:00 on the central square of the park. At 13:00, a master class on painting wooden spoons will be held in the Development and Creativity Club pavilion. Beautiful painted spoons can be used as interior decoration or as a gift for loved ones. From 15:00, the same pavilion is waiting for those interested in ancient Chinese writing. At the Chinese language master class, you can not only learn words and learn to write hieroglyphs, but also learn more about the rich culture of China. The classes are suitable for children aged six and older and adults. Admission is free.

    Thematic classes will be held in Kuzminki Park on November 4. During the classes, everyone will be taught how to make a traditional toy “Bird” using decoupage technique, making a magnet “Heart” using coffee beans, and will also help you select materials and compose a greeting card “I love Russia”. A festive concert will be held on the park stage. The guests will be treated to performances by the pop song theater “Dream”, dance studio “Pearl” and many others. The concert starts at 11:00. Also, as part of the “Kind Letters” project, you can send good wishes to the soldiers taking part in the special military operation, put handmade souvenirs in the envelopes, or write poems for the soldiers.

    At 16:00 on November 4, a free patriotic concert “In Unity Is Our Strength” will begin at the Fili Hall exhibition center in Fili Park. Musical and dance groups will perform for the guests, and songs about love for the native land will be heard.

    And on the central square of Lianozovsky Park from 18:00 to 20:00 guests will be shown the documentary film “Minin and Pozharsky”.

    A master class on creating national costumes of the peoples of Russia will be held in Krasnaya Presnya Park. First, participants will be told about the types of ornaments and their meaning, and then they will be asked to repeat the patterns in their sketches forcostumes.

    A concert featuring performers from the Tagansky District will be held in Tagansky Park on Monday at 1:00 p.m. The audience will be treated to more than just musical numbers. They will also be given a master class on drawing costumes of the peoples of Russia.

    On November 4, in Sokolniki Park, everyone will be able to take part in the games of the chess and checkers club (6th Luchevoy Prosek, Building 3). Checkers tournaments will start at 12:00. You can register on site at 11:30. And chess tournaments are scheduled for 17:00. You can also register on site half an hour before the start. The number of participants is limited.

    In addition, on November 4 at 11:30 in the pagoda in 4th Luchevoy Prosek there will be a lecture by historian and publicist Evgeny Norin on the topic “The origin of the holiday of National Unity Day. Its historical and modern significance.”

    Exhibitions in museums and elsewhere

    National Unity Day is a great opportunity to organize a themed trip to a museum for the whole family. Especially since Moscow hosts many exhibitions and excursions dedicated to the art, architecture, history and nature of Russia, the traditions and customs of its peoples.

    On November 3 at 12:00, the Moscow State Art Gallery of the People’s Artist of the USSR Ilya Glazunov (Volkhonka Street, Building 13) will host a tour entitled “Defenders of the Russian Land in the Works of Ilya Glazunov.” Art lovers will be taken around the gallery and told about paintings dedicated to great victories, military valor, and glorious pages of Russian history. Participation in the tour is free with an entrance ticket.

    In addition, on November 3 from 2:00 pm to 3:30 pm, Gogol’s House (Nikitsky Boulevard, Building 7a) invites you to the world of an old Moscow estate, where you can learn how guests were received in the old days and what a real Moscow tea party is. Admission by prior arrangement registration.

    On November 3 from 15:00 to 16:00 in the Alexander Shilov Gallery (5 Znamenka Street) there will be a thematic excursion “Cultural Heritage of Moscow”. This is a wonderful opportunity to go through the halls of an old mansion accompanied by a guide, look into the gallery’s courtyard and see the back facade of an architectural monument – the creation of one of the most outstanding architects of the 19th century E.D. Tyurin. Guests will visit a cozy park in front of the gallery, admire the view of the historical center and listen to the history of the creation of the chapel of St. Nicholas the Wonderworker. They will have a fascinating acquaintance with the works of Alexander Shilov. You can register by phone: 7 495 697⁠-73⁠-10.

    On the same day from 4:00 PM to 5:00 PM, the Burganov House Museum (Bolshoy Afanasyevsky Lane, Building 15, Building 9) will hold a sightseeing tour called “The Burganov House Surroundings”. Guests will see the sculptor’s works located near the museum building: in the Ecology Park, in the People-Legends Gallery, and on Arbat. Entrance by prior registration: 7 495 695⁠-04⁠-29.

    Not only museums have prepared exhibitions for city residents. On November 4, a joint exhibition with the Russian Geographical Society called “Peoples of Russia” will open at the Dynamo metro station. The public will be presented with photos by participants in the annual photo contest of the Russian Geographical Society “The Most Beautiful Country”.

    Folk art and eternal classics in cultural centers

    The cultural centers on November 3 and 4 are worth visiting for those who are partial to symphonic and instrumental music, as well as folklore.

    On November 3, the Vdokhnovenie cultural center (Litovsky Boulevard, Building 7) will host a concert of the brass band of the Moscow State Institute of Music named after A.G. Schnittke, “On the Day of National Unity.” The musicians, under the direction of conductor Honored Artist of Russia Alexey Karabanov, will perform works by Russian composers. The concert will begin at 19:00.

    And in the cultural center “Zelenograd” (Central Square, Building 1) on November 3 at 12:00 a festival of national cultures of Russia will begin, which will unite the traditions of the peoples living in it.

    On November 4, the Vnukovo Cultural Center (6 Bolshaya Vnukovskaya Street) is hosting a gala concert of the VIII All-Russian Festival of Traditional Folk Art “Narodnoye Siyaniye”. Creative groups and individual performers will take part in it. There will be nominations for amateur folk groups, folk song ensembles and soloists. The event will start at 12:00.

    The ZIL Cultural Center (4 Vostochnaya Street, Building 1) will help prolong the holiday feeling. There will be a large free concert there on November 5. The program includes performances by members of the Ozherelye folklore ensemble, the Karnaval variety and sports dance ensemble, the Children’s Ballet Theater, the Orpheus opera studio, and other groups. The host is theater and film actor Mikhail Dorozhkin.

    National Unity Day is a national holiday that was established in 2005. It is dedicated to an important historical event – the victory of the people’s militia led by Kuzma Minin and Dmitry Pozharsky over the Polish invaders in 1612. Their feat is considered the embodiment of the courage and unity of the people.

    On National Unity Day, the capital traditionally organizes festive concerts with the participation of popular musicians and folk groups, and holds a variety of cultural and educational events.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/nevs/item/146002073/

    MIL OSI Russia News –

  • MIL-OSI: Improving macroeconomic environment and good customer activity drive progress, supported by cost focus and strong credit quality. Net profit of DKK 17.6bn for Q1-Q3 of 2024. 2024 net profit outlook revised upwards to DKK 22.5-23.5 billion

    Source: GlobeNewswire (MIL-OSI)

    Press release  

    Bernstorffsgade 40
    DK – 1577 København V
    Tel. +45 45 14 14 00

    31 October 2024

    Improving macroeconomic environment and good customer activity drive progress, supported by cost focus and strong credit quality
    Net profit of DKK 17.6 billion for the first nine months of 2024
    2024 net profit outlook revised upwards. Now expects a net profit of DKK 22.5-23.5 billion, against previously 21-23 billion

    Carsten Egeriis, Chief Executive Officer, comments on the financial results:

    “During the first nine months of 2024, we consistently delivered satisfactory financial results, while progressing with our strategic priorities. Stable core income, consistent cost management, improved customer activity and continually strong credit quality led to an increase in net profit of 14% for the first nine months of the year relative to the same period last year.

    On the back of lower inflation, central banks have started to lower policy rates. In response to this, we lowered selected customer rates on lending and deposits during the first nine months of the year, while ensuring our offerings remain attractive across customer segments. This has resulted in an increase of 4% in deposit volumes for personal customers in Denmark during the period coupled with a substantial shift towards placing excess liquidity in our wide range of investment solutions, which contributed to a 10% increase in net fee income year-on-year. With continued growth in customer business volumes at our Business Customers unit and good traction during the year so far in our capital markets business at our Large Corporates & Institutions unit, there was progress across our business.

    We continue to execute on our Forward ’28 strategy, and with a return on equity of 13.4% and a cost/income ratio of 45.5%, we remain on track to meet our financial targets.”

    First nine months of 2024 vs first nine months of 2023
    Total income of DKK 41.8 billion (up 8.4% against the first nine months of 2023)
    Operating expenses of DKK 19.0 billion (up 1.0% against the first nine months of 2023)
    Loan impairments of DKK -436 million (against DKK 294 million in the first nine months of 2023)
    Net profit of DKK 17.6 billion (up 13.8% against the first nine months of 2023)
    Return on shareholders’ equity of 13.4% (against 12.5% in the first nine months of 2023)
    Strong capital position, with a total capital ratio of 23% and a CET1 capital ratio of 19.1%

    Macroeconomic environment more positive
    In the third quarter, the macroeconomic outlook improved, as inflation got under control and interest rates were lowered, which all in all is paving the way for an outlook for stable growth. Among the Nordic countries, the macroeconomic outlook is especially positive in Denmark where the labour market remains strong, inflation is low and economic growth is expected to be solid, even without the significant contribution from the pharmaceutical sector. Despite the more positive macroeconomic outlook, we remain prudently aware of the downside risks stemming from the geopolitical situation and concerns about a potential slowdown in economic activity.

    Although geopolitical tension has unfortunately become permanent and continues to be the global backdrop, the macroeconomic picture in the Nordic countries has improved, and we maintain our strong focus on our customers and are delivering according to the plan set out in our Forward ’28 strategy. Our focus on execution and our efforts to improve Danske Bank to the benefit of all stakeholders are moving us forward as expected.

    Improved commercial momentum in core banking
    We continue to see improved commercial momentum and good interest in our leading advisory solutions for customers with complex needs, and we continue to enhance our products to make everyday banking both simpler and safer.

    At our Personal Customers unit, we saw an increase in net fee income, particularly from everyday banking and investment fees, higher net interest income from deposits and a net loan impairment reversal. Good growth in customer business volumes across our Business Customers unit supported an increase in bank lending volumes in local currency across our Nordic markets, except for Denmark. And at our Large Corporates & Institutions unit, the positive momentum continued, among other things with good activity in Loan Capital Markets, where we in the third quarter supported the financing of some of the largest transactions in Europe.

    The improved momentum shows that Danske Bank’s underlying business is strong, our treasury asset and liability management is prudent, and our capital and liquidity positions continue to be strong, with significant buffers well above regulatory requirements.

    “Supported by the improving macroeconomic environment, our diversified business model and core activities continued to ensure commercial progress. Net interest income increased 6% in the first nine months of the year and net fee income was up 10% for the period as a result of both solid customer activity and our ongoing development of customer offerings across the business. We continued our consistent focus on costs and on creating further efficiency improvements in our processes, allowing us to keep operating expenses on par while still developing according to plan. Our sustained commercial momentum and focus on operational efficiency thus resulted in a cost/income ratio of 45.5% and a return on equity of 13.4%, with credit quality remaining strong, as reflected in a net loan impairment reversal across all countries. The continued cost focus and strong credit quality is furthermore the basis for our second upward revision this year, which is a testament to the robustness of the bank and our customers,” says Stephan Engels, CFO.

    Personal Customers
    During the first nine months of 2024, we continued to support our customers in managing their finances in a market environment characterised by falling interest rate levels. Our Danske Bolig Fri home finance products were in high demand and were named ‘Best in Test’ by the Danish Consumer Council. The same was the case for our loans targeting first-time home buyers. We also saw an increased flow of customers into our Private Banking unit. Profit before tax amounted to DKK 7.48 billion in the first nine months of 2024, representing an increase of 21% from the year-earlier period. The result was fuelled primarily by an increase in net fee income, particularly from everyday banking and investment fees, and a net loan impairment reversal.

    Business Customers
    In the first nine months of 2024, the economic landscape in which we operate continued to improve, due primarily to a stabilisation of interest rates in the first part of the period, followed by interest rate cuts by the central banks towards the latter part of the period. We continued to expand the customer base in our focus segments. In addition, we took strategic repricing actions and continued to enhance support for our customers by providing the best possible advice tailored to their needs. Profit before tax for the first nine months of 2024 amounted to DKK 6.69 billion, a decrease of 6% from the same period last year. Net fee income rose as a result of our subscription-based fee service model as well as repricing actions. However, we saw an increase in operating expenses attributable to investments made under our Forward ’28 strategy.

    Large Corporates & Institutions
    In the first nine months of 2024, we continued to see a positive underlying momentum, particularly in our fee business as higher fees from assets under management, everyday banking products and capital markets activities mitigated the decline in net trading income, thus demonstrating the value of our diversified business model. Furthermore, we continued to leverage our strategic commercial strengths as reflected in growth in our corporate customer portfolio outside Denmark, an increased market share of cash management services and the maintaining of our leading position in sustainable finance. Profit before tax increased to DKK 7.03 billion, an increase of 6% from the same period last year. The increase was driven by higher net fee income and loan impairment reversals, although the increase was partly offset by lower net trading income.

    Danica Pension
    Through high levels of volatility, the global markets continued their positive trend in the third quarter of 2024. The investment return on our pension customers’ savings in the first nine months of the year profited from the favourable trend in the global financial markets. We have thus had a prolonged period throughout 2023 and 2024 during which we have been able to deliver significant returns for our customers. However, we continued to see challenges in the health and accident business due to a rise in new health and accident claims. This reflects the general trend in society. Net income at Danica Pension increased to DKK 1.41 billion in the first nine months of 2024, up 53% from the level in the first nine months of 2023, due to an increase in the net financial result.

    Northern Ireland
    The strong underlying financial performance reflects business growth in a higher interest rate environment. Profit before loan impairments was 7% higher than in the first nine months of 2023, while profit before tax of DKK 1.51 billion represented an increase of 3% year-on-year.

    Outlook for 2024
    The outlook for 2023 is revised upwards to a net profit in the range of DKK 22.5-23.5 billion. At the release of our upward adjustment on 26 June 2024, we guided for a full-year 2024 net profit in the range of DKK 21-23 billion. The change in outlook is based on better cost trajectory as well as lower than expected loan impairments.

    The outlook is subject to uncertainty and depends on economic conditions.

    Danske Bank

    Contact: Stefan Singh Kailay, Head of Media Relations, tel. +45 45 14 14 00

    More information about Danske Bank’s financial results is available at danskebank.com/reports.

    Attachments

    The MIL Network –

  • MIL-Evening Report: Islands Business publisher Samantha Magick – storyteller, risk-taker and community champion

    By Teagan Laszlo, Queensland University of Technology

    For Samantha Magick, journalism isn’t just a job. It is a lifelong commitment to storytelling, advocacy, and empowering voices often overlooked in the Pacific.

    As the managing editor and publisher at Islands Business, the Pacific Islands’ longest surviving news and business monthly magazine, Magick’s commitment to quality reporting and journalistic integrity has established her as a leading figure in the region’s news industry.

    Magick’s passion for journalism began at a young age.

    “I wanted to be a journalist when I was like 12,” Magick recalls. “When I left school, that’s all I wanted to study.”

    She remembers her family’s disapproval when she would write stories as a child, as they thought she was “sharing secrets”. Despite that early condemnation, Magick’s thriving journalism career has taken her across continents and exposed her to diverse media landscapes.

    After completing a Bachelor of Communications with a major in journalism at Charles Sturt University in Bathurst, Australia, Magick began her career at Communications Fiji Limited (CFL), a prominent Fijian commercial network.

    She progressed over 11 years from a cadet to CFL’s news director.

    Guidance of first boss
    Magick attributes some of her early success to the guidance of her first boss and CFL’s founder, William Parkinson. She considers herself fortunate to have had a supportive mentor who led by example and dared to take risks early in life, such as founding a radio station in his 20s.

    After leaving CFL, Magick’s career took her across the globe, including regional Pacific non-government organisations, news publications in Hawai’i and Indonesia, and even international legal organisations in Italy.

    Magick, who is of both Fijian and Australian heritage, returned to Suva in 2018, where she began her current role as Islands Business’s managing editor.

    “I’ve chosen to make my life in Fiji because I feel more myself here,” Magick says, reflecting on her deep connection to the island nation.

    Magick’s vision for Islands Business focuses on delving into the deeper, underlying narratives often overshadowed by breaking news cycles and free, readily available news content.

    “We need to be able to demonstrate the value of investigation, big picture reporting rather than the day-to-day stuff,” Magick says.

    Magick prides herself on creating a diverse and inclusive newsroom that reflects the communities it serves.

    Need for diverse newsroom
    “You have to have a diverse newsroom,” she emphasises, recognising the importance of amplifying marginalised voices. “For example, there is a conscious effort to make sure our magazine is not full of photos of men shaking hands with other men.”

    Magick also believes journalists have a responsibility to advocate for change, as demonstrated by Islands Business’s dedication to tackling pressing issues from climate change to media freedom.

    “Why would I give a climate change denier space?” Magick questions when discussing the need to balance objectivity and advocacy. “Because it’s kind of going to sell magazines? Because it’s going to create a bit of a stir online? That’s not something we believe in.”

    Despite her success, Magick’s career has not been without challenges. Magick worked through Fiji’s former draconian media restriction laws under the Media Industry Development Act 2010, while also navigating the shift to digital media.

    Islands Business managing editor Samantha Magick (right) with Fiji Times reporter Rakesh Kumar and chief editor Fred Wesley (centre) celebrating the repeal of the draconian Fiji media law last year . . . ““Why would I give a climate change denier space?” Image: Lydia Lewis/RNZ Pacific

    Magick emphasises the need to constantly upskill and re-evaluate strategies to ensure she and Islands Business can effectively navigate the constantly evolving media landscape.

    From learning to capitalise on social media analytics to locating reputable information sources when many of them feared to speak to the journalists due to the risk of legal retribution, Magick believes flexibility and perseverance are crucial to staying ahead in media.

    In her early career, Magick also faced sexism and misogyny in the media industry. “When I think back about the way I was treated as a young journalist, I feel sick,” Magick says as she reflects on how she and her female colleagues would warn each other against interviewing certain sources alone.

    Supporting aspiring journalists
    The challenges Magick has faced undoubtably contribute to her dedication to supporting aspiring journalists, as evident through Kite Pareti’s journey. Starting as a freelance writer with no newswriting experience in March 2022, Pareti has since progressed to one of two full-time reporters at Islands Business.

    Pareti expresses gratitude for the opportunities she’s had while working at Islands Business, and for the mentorship of Magick, whom she describes as “family”.

    “Samantha took a chance on me when I had zero knowledge on news writing,” Pareti says. “So I’m grateful to God for her life and for allowing me to experience this once-in-a-lifetime opportunity.”

    Magick reciprocates this sentiment. “Recently, I am inspired by some of our younger reporters in the field, and their ability to embrace and leverage technology — they’re teaching me.”

    Magick anticipates an exciting period ahead for Islands Business, as she aims to attract a younger, professionally driven, and regionally focused audience to their platforms.

    When asked about her aspirations for journalism in the region, Magick says she hopes to see a future where Pacific voices remain at the centre, “telling their own stories in all their diversities”.

    Teagan Laszlo was a student journalist from the Queensland University of Technology who travelled to Fiji with the support of the Australian Government’s New Colombo Plan Mobility Programme. This article is published in a partnership of QUT with Asia Pacific Report, Asia Pacific Media Network (APMN) and The University of the South Pacific.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Europe: Written question – Drastic decline of the European hedgehog and the need for urgent measures for its protection – E-002233/2024

    Source: European Parliament

    23.10.2024

    Question for written answer  E-002233/2024
    to the Commission
    Rule 144
    Sebastian Everding (The Left), Tilly Metz (Verts/ALE), Krzysztof Śmiszek (S&D), Cristina Guarda (Verts/ALE), Jonas Sjöstedt (The Left), Lynn Boylan (The Left), Maria Noichl (S&D), Anja Hazekamp (The Left), Tomáš Kubín (PfE), Erik Marquardt (Verts/ALE)

    The hedgehog[1] plays a vital role in preserving the biodiversity and balance of green spaces. However, experts warn that its population is expected to decrease by up to 50 % in the span of a decade as a result of the destruction of its natural habitats by human activity.

    The hedgehog is under serious threat because of habitat loss and food scarcity. This has caused its reproduction rates to decline and has led to it being added to a range of endangered species lists. In Germany, for instance, the hedgehog, which is also the wild animal of the year 2024, is now on the early warning list of endangered species. Unfortunately, there is no precise estimate of the hedgehog population in Europe.

    • 1.What concrete measures does the Commission plan to take for the preservation and conservation of Erinaceus europaeus?
    • 2.Does the Commission plan to propose a scientific review of the conservation status of the hedgehog population across the EU, and if so, when exactly?
    • 3.The North African hedgehog is listed in Annex IV of the Habitats Directive, yet it remains a popular pet. Are there any measures the Commission believes should be taken regarding this protected species being kept as a pet?

    Submitted: 23.10.2024

    • [1] Erinaceus europaeus.
    Last updated: 31 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Commission proposes fishing opportunities for 2025 in the Atlantic, Kattegat and Skagerrak

    Source: European Commission

    European Commission Press release Brussels, 31 Oct 2024 Today, the Commission published its proposal to set catch limits, or total allowable catches (TACs), for ten fish stocks in the EU waters in the Atlantic Ocean, Kattegat, and Skagerrak for 2025.

    MIL OSI Europe News –

  • MIL-OSI Africa: Secretary-General’s remarks at the Ministerial Breakfast on the Intergovernmental Negotiating Committee to end Plastic Pollution [as delivered]

    Source: United Nations – English

    xcellencies, Friends,

    We are here today as we enter the last stretch of a crucial negotiation.

    Next month, Member States will meet in Busan, Republic of Korea to negotiate a multilateral solution to end plastic pollution.

    A solution that is vital for people, planet and prosperity alike.

    My thanks to the Government of Colombia for bringing us together today.

    And I commend you for leading by example – with ambitious national measures to reduce single-use plastics.

    Excellencies, dear Friends,

    We are here because we know the obvious.

    Plastic pollution is everywhere – all around us and even inside us – from our seas to our blood, to our brains.

    We are choking on plastic.

    Every year, people may ingest the equivalent of up to 50 plastic bags due to microplastics in food.

    Each year, humanity produces over 460 million metric tonnes of plastic.

    Half of it is designed for single-use purposes – used once and tossed away.

    By 2050, there could be more plastic in the ocean than fish.

    And so, it is clear that we need action, and fortunately, people are now demanding it.

    Excellencies, dear Friends,

    We would not be here today but for the historic step taken by Peru and Rwanda in introducing a joint proposal that paved the way for the adoption, in 2022, at the UN Environment Assembly, of a landmark resolution to begin the process to end plastic pollution.

    Since then, solidarity has been the hallmark of these negotiations.

    We see this solidarity enshrined in the Kunming-Montreal Global Biodiversity Framework that has reinforced the importance of addressing pollution from all sources to reduce the impacts of pollution on ecosystems and biodiversity.

    And we see this solidarity in the Pact for the Future, through which Member States recommitted to work towards the conclusion of a plastics agreement “with the ambition of completing negotiations by the end of 2024”.

    In Busan, Member States will have the chance to deliver on these promises and agree on a global treaty to end plastic pollution – once and for all.

    This has not been a road without challenges, but it has been a journey of progress.

    I thank the Chair of the International Negotiating Committee, Luis Vayas Valdivieso, as well as his predecessor Gustavo Meza-Cuadra, for getting us through five rounds of complex negotiations.

    This is an opportunity to demonstrate that multilateralism, while not always easy, can deliver for people, health and the environment.

    The ball is now in the court of Member States to land an agreement that is ambitious, credible and just.  

    An agreement that addresses the life cycle of plastic – tackling single-use and short-lived plastics;

    An agreement that responds to the needs of people and communities and that unleashes a just transition for all – including 20 million waste pickers around the world. 

    Excellencies, dear Friends,

    As the Montreal Protocol demonstrated almost forty years ago, international cooperation underpinned by meaningful legally binding agreements remains the most fruitful avenue to address global environmental challenges.

    I urge you to step up for human health, equity and justice.

    To step up for the future of people and planet.

    An ambitious agreement is the only way to end plastic pollution.

    Thank you.

    MIL OSI Africa –

  • MIL-OSI USA: Pressley Visits ABCD Head Start in Jamaica Plain, Highlights Threat of Project 2025 to Early Education

    Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

    During National Book Month, Pressley Toured ABCD and Read to Head Start Children

    Project 2025 Would Eliminate Head Start and Deny 11,000 Massachusetts Children Childcare Access and Other Services

    Photos (Dropbox)

    BOSTON – Congresswoman Ayanna Pressley (MA-07), Co-Founder of the Stop Project 2025 Task Force, visited ABCD Jamaica Plain Head Start & Children’s Services to highlight the threat of Project 2025 to early education in Massachusetts and across the country. Congresswoman Pressley, whose visit comes during National Book Month, read to Head Start children and joined ABCD leadership and staff for a tour of the center.

    Project 2025, a bucket list of extreme right-wing policies, would completely eliminate the Head Start program, which provides access to no-cost childcare and other services for nearly 11,000 children in Massachusetts, including 2,500 children in the Massachusetts 7th Congressional District, and serves more than 833,000 children living in poverty nationwide.

    “I was proud to visit ABCD Head Start in JP to read to our babies and highlight how impactful and life-changing the work they do is,” said Congresswoman Pressley. “While Republicans try to eliminate Head Start, raise costs for families, and exacerbate the childcare crisis, I’ll keep pressing to expand these essential programs, raise the wages of our early educators, and invest in affordable, high-quality childcare for all. Thank you to President Scott-Chandler, Executive Director Haimowitz, and everyone at ABCD and Head Start Massachusetts for all that you do support our families.”

    Joining Rep. Pressley at the event were Sharon Scott-Chandler, ABCD President and CEO; Kim Weldon, Jamaica Plain Head Start Center Director; Josh Young, VP of Field Operations & Legislative Affairs; Michelle Haimowitz, Executive Director, Massachusetts Head Start Association; and Head Start children and staff.

    “Congresswoman Pressley has been an ally, an advocate, and, when necessary, a warrior for children and families when access to vital resources is at risk—as is the case if proponents of Project 2025 are able to enact its draconian policies. We are grateful for Rep. Pressley’s resolve to keep Head Start in place and, indeed, expand it,” said Sharon Scott-Chandler, President and CEO of Action for Boston Community Development.

    “We are deeply grateful to Congresswoman Pressley for fighting for early childhood education and care programs such as Head Start. She is a longtime advocate who understands that paying qualified teachers and staff equitably is essential; wages are an investment in families and this country’s future,” said Flossy Calderon, Vice President of ABCD Head Start & Children’s Services.

    “Head Start’s comprehensive services provide a vital lifeline to vulnerable families in the Massachusetts 7th and across the Commonwealth. We are so fortunate to have Congresswoman Pressley as a champion for Head Start in Congress, leading the charge for our Head Start families, educators, and programs. We look forward to continuing to partner with the Congresswoman to see that every vulnerable family has access to the high-quality Head Start services they deserve,” said Michelle Haimowitz, Executive Director, Massachusetts Head Start Association.

    Photos from the event can be found here.

    In Congress, Rep. Pressley has consistently sounded the alarm about Project 2025 and made the case for robust federal investments in childcare, living wages for early educators, support for the Head Start program, paid leave, and other policies that support families across the country.

    Last year, Congresswoman Pressley welcomed Jaqueline Sanches, a Mattapan resident, early educator, and mother of two, as her guest to President Biden’s State of the Union Address on Tuesday, February 7, 2023. In 2022, Rep. Pressley’s virtual guest to President Biden’s State of the Union Addres was Christina Morris, a Hyde Park resident, union carpenter, and mother of four who has advocated for affordable childcare so working parents like herself can make ends meet and take care of their families.

    ###

    MIL OSI USA News –

  • MIL-OSI United Nations: Secretary-General’s press encounter at the end of his visit in Colombia [bilingual, scroll down for Q+A]

    Source: United Nations secretary general

    Ladies and gentlemen of the media.

    I thank President Petro for hosting the United Nations Biodiversity Conference in Cali. 

    I congratulate Colombia on the excellent organization of this COP.

    I also thank the people of Colombia for their warm welcome, we all felt very much at home.

    The world has come to Cali to make peace with nature. 

    Let me be clear: we are facing an existential crisis.

    Temperatures are climbing higher and higher. 

    We are losing more and more species – forever. 

    We are poisoning our waters. 

    And treating nature as a disposable asset.

    Human activities have already altered three-quarters of Earth’s land surface and two-thirds of its waters.

    And no country, rich or poor, is immune to this devastation. 

    To survive, humanity must make peace with nature. 

    We must transform our economic models – shifting our production and consumption to nature-positive practices. 

    Renewable energy, sustainable supply chains and zero-waste policies are not optional. 

    They must become the default option for both governments and businesses.

    Dear friends,

    The good news is that we have a plan: 
    The Kunming-Montreal Global Biodiversity Framework, adopted two years ago.

    But nature cannot wait for its implementation any longer. 

    This is what this COP is about:

    Turning promises into action. 

    We have seen good progress, and I want to thank everyone for their efforts. 

    But with less than two days of negotiations left to go, we need to accelerate. 

    I want to highlight three priorities.

    First – Cali must spark a new era for ambitious national biodiversity plans.

    As of today, a majority of countries have national targets that align with the Global Biodiversity Framework.

    I urge every Member State to follow suit and align these national plans with their adaptation plans and updated climate Nationally Determined Contributions – due early next year.

    We must also reach an agreement on a strengthened monitoring and transparency framework to ensure accountability and move forward together.

    Second – we must leave Cali with concrete plans to unlock new funding and share the benefits from the use of genetic resources.

    This means capitalizing the Global Biodiversity Framework Fund.

    I thank the countries and regions that pledged an additional 163 million US dollars this week.

    But if we are to deliver the Global Biodiversity Framework in full, we need much more. 

    We must make sure we are able to mobilize 200 billion dollars annually by 2030 from all sources – domestic, international, public and private.

    Developed countries must lead the way and provide at least 20 billion dollars per year – by next year – to support developing countries, in particular the Least Developed Countries and Small Island States, in their conservation and restoration efforts.

    Businesses profiting from nature must also contribute to its protection and restoration.
    This includes operationalizing a mechanism for sharing the benefits from the use of the Digital Sequence Information on Genetic Resources – in a clear, fair and efficient way.

    Third – we must recognize, involve, and protect those who guard our natural heritage. 

    Indigenous Peoples and local communities possess vital knowledge of biodiversity conservation. 

    And in this region, People of African descent are key custodians of natural resources. 

    They must all be at the center of our decisions, not on the sidelines.

    In Cali, we must agree on the proposal to establish a new permanent body for Indigenous peoples and local communities within the Convention on Biological Diversity – ensuring their voices are heard at every step across the work of the Convention.

    The clock is ticking.

    The survival of our planet’s biodiversity – and our own survival – are on the line.

    We don’t have a moment to lose.  

    Señoras y señores de la prensa, 

    Mientras el mundo se reúne en este hermoso país para comprometerse a hacer la paz con la naturaleza, aprovecho la oportunidad para reafirmar nuestro compromiso con la paz en Colombia.  

    Me complace estar de nuevo en Colombia en este momento propicio para cerrar los dolorosos capítulos de guerra y consolidar este ejemplo de paz ante el país y el mundo.

    Saludo los esfuerzos renovados del Presidente Petro y su gobierno para acelerar la implementación del Acuerdo Final de Paz – incluso mediante el Plan de Choque que se enfoca en aspectos concretos para mejorar la calidad de vida en los territorios priorizados.

    Asimismo, reconozco el compromiso firme de la otra parte firmante – los que fueron combatientes de las FARC-EP.  

    Estos antiguos adversarios trabajan hoy como socios en la construcción de la paz.   

    Llegando con avances y desafíos a su octavo aniversario, este histórico Acuerdo debe de mantenerse en el centro de los esfuerzos de consolidación de la paz.   

    El Acuerdo sigue siendo la hoja de ruta principal para romper con los ciclos de violencia en Colombia. 

    Y también para enfrentar las causas estructurales de esta violencia mediante el compromiso de llevar la presencia integral del Estado a las regiones históricamente olvidadas. 

    Una presencia que conlleva seguridad, oportunidades de desarrollo y gobernanza inclusiva.  

    No debe haber más demora para que los dividendos de paz lleguen a todos los territorios. A todos aquellos pueblos que todavía esperan que se concrete la promesa de paz. 

    Asegurar la justicia para las víctimas también es impostergable. 

    Reconozco la noble y valiente labor del sistema pionero de justicia transicional creado por el Acuerdo. Y animo a que avance.  

    La Paz Total impulsada por el gobierno nacional es un objetivo loable. 

    Las iniciativas de diálogo, a pesar de los desafíos, buscan ampliar la paz en el país de manera complementaria al Acuerdo de Paz. 

    Aconsejo no dejarse desviar del camino del diálogo.

    Estos diálogos son oportunidades para acabar con la violencia que sigue azotando a las poblaciones de regiones que también son claves para la implementación del Acuerdo de Paz. 

    Especialmente a las comunidades Indígenas y Afrocolombianas, a los desplazados y confinados por los grupos armados, a las mujeres víctimas de la violencia sexual y a los niños y niñas reclutados en la guerra.

    Hoy, mi llamado al pueblo colombiano es de perseverar. 

    Que trabajen juntos para que sea un esfuerzo nacional, compartido.  

    Les quiero recordar que Colombia nunca estará sola en sus esfuerzos por la paz. 

    Será un honor seguir acompañando a Colombia en su camino hacia la paz, a través de la Misión de Verificación de la ONU y las agencias y programas del equipo de país.

    Cuenten siempre con mi apoyo y mi solidaridad con Colombia, así como con mi profunda gratitud por la confianza que han otorgado a las Naciones Unidas. 

    Estaremos siempre al lado de Colombia. 
     
    Question: Muchas gracias Secretario. Quiero trasladarle una pregunta de muchas delegaciones acá y es ¿Cómo vio usted la presencia en la COP16 del Canciller venezolano Yván Gil, lo cuestionan muchas delegaciones -más de la mitad- incluso usted, que le ha exigido que publique las actas de las elecciones y esto no cayó nada bien aquí su presencia. Lo vimos incluso a usted distante del Canciller Gil. Si bien la diversidad y la protección de la naturaleza debe abarcar la mayor cantidad de actores posibles, ¿Cómo vio usted la presencia de Venezuela aquí en la COP16?
     
    Answer: Hay dos aspectos distintos. En primer lugar, la opinión que formamos sobre la forma como se transcurrieron las elecciones, la ausencia de una transparencia adecuada y el hecho que hay muchos gobiernos que aún no han reconocido el gobierno de Venezuela. La otra parte es el mecanismo del funcionamiento de las organizaciones multilaterales y en particular de las COPs. Y en las COPs hay una acreditación en que los que están, participan desde que la misión del país los acredite. Esta es una práctica que no podemos cambiar porque es la práctica establecida estatutariamente, pero eso no invalida la opinión que podemos tener sobre lo que pasó en Venezuela.

    Question: [Inaudible] – AFP. There are five years left to achieve the coming Montreal Objective Framework – to have them reversed by biodiversity laws by 2030.  Here the focus is mainly on resource mobilization. Is that the correct approach? Is it really the fight over finance that will determine the success of the [Global Biodiversity Framework Fund] GBF.  Is it the fight over finance that is key to determine the success of GBF? Or is it something else? 

    Answer: I think the most important thing in it – and that is the reason my presence in this COP – is to change what has been the permanent neglect of biodiversity, namely when compared with our efforts in relations to climate change. 

    We need, first of all, to accept the concept that we are facing three existential crises: climate change, biodiversity and pollution, namely plastics. 

    But they are all interlinked and indivisible.  So, the central question is to make sure that we are able to put biodiversity as the center of our concerns in all aspects of policy and strategy and financing as we are putting climate change.

    Obviously, finance is essential, but finance is not enough. What we need is a political priority at government levels. Political priorities at multilateral institution levels, and the clear commitment of the Private Sector to be involved in order to make sure that we understand that without defeating the biodiversity crisis, we will not defeat the climate crisis, we will not defeat the pollution crisis, and we will condemn our world to a situation of extreme poverty in the natural environments and this is totally unacceptable. 

    So, we must bring the attention of the people of the government, the institutions, and the Private Sector to the centrality of biodiversity in the context of our environmental processes.

    Question: Sir, this is Stella Paul from IPS news (Inter Press Service News).  Our overarching theme here is making peace with nature, but at the time, when we are seeing increasing impact of war and conflict on biodiversity across the world, starting from Ukraine to all the way to Palestine and we are not seeing enough discussion of that in a formal way, even at the COP, how do you think that we can make peace with nature? Thank you. 

    Answer: Well, we need peace with nature, and we need peace among ourselves. That is the reason I’ve been asking for in line with the Charter, in line with international law, and in line with the General Assembly resolutions. That is why we have been asking for an immediate ceasefire in Gaza, releasing all hostages and massive humanitarian aid to Gaza. That is why we have been asking for peace in Lebanon and peace that respects Lebanese sovereignty and Lebanese territorial integrity and paves the way for a political solution. That is why we have been asking for peace in Sudan, where an enormous tragedy exists. And, obviously, we need to make peace in nature, but we need to make peace among ourselves because wars have one of the most devastating impacts – wars have some of the most devastating impacts on biodiversity on climate and on pollution. 

    Thank you so much. At the back there, Le Monde.  Thank you.

    Question: Hi [inaudible] for Le Monde. Many issues of the negotiations are still unresolved, and many Ministers are leaving tonight. Are you worried this COP could fail or at least not be as successful as is should?

    Secretary-General: I have to say that I met with the five groups. And I heard a large number of ministers talk. And I felt that there was a huge will to find a successful result and a huge will to compromise on the pending issues. So, I’m quite optimistic that it will be possible to reach a consensus and not a consensus on the consensus, but the consensus that paves the way for progress after the COP in the implementation of the Kunming-Montreal Framework

    Question: Secretario, Silvia Patiño de W Radio Colombia. Usted estuvo ayer reunido con el Presidente Gustavo Petro y el presidente le planteó la posibilidad de cambiar el mecanismo a través del cual la ONU mide la cantidad de hectáreas de cultivos de coca en Colombia. ¿La ONU está dispuesta a eso? Porque el Presiente además planteó hace algunas semanas la posibilidad de comprar los cultivos de coca a los campesinos para tratar de enfrentar el tema de narcotráfico. A la ONU ¿le suena, le gusta, le parece esta idea en torno al tráfico de drogas?
     
    Answer: Hay convenciones sobre drogas y la ONU está vinculada a esas convenciones. Pero creo que es importante abrir la puerta a una reflexión muy seria en un mundo donde vemos que desafortunadamente el tráfico de drogas es simultáneo con el tráfico de armas, de muchos otras formas incluso de tráfico de mujeres, hombres y niños. Y que ese tráfico está minando en muchos países la estructura del Estado, por la corrupción generada.
     
    Entonces creo que el apelo del Presidente Petro a una reflexión sobre los mecanismos que hoy tenemos en relación con el combate al narcotráfico y en relación con la droga, creo que el apelo que es hecho a una reflexión sobre la eficacia sobre los mecanismos que tenemos es un apelo que debe ser escuchado. Yo no conozco en detalle el proyecto, pero si la compra es hecha para después ser utilizada de una forma positiva, ¿puede impedir el tráfico no?

    Si eso puede garantizar que haya una neutralización de esa producción y que esa producción no alimente al tráfico. Pero naturalmente el objetivo nuestro tiene que ser un objetivo de preservar la salud de la gente de todo el mundo. Muchas gracias.

    MIL OSI United Nations News –

  • MIL-OSI Global: What Labour’s first budget means for wages, taxes, business, the NHS and plans to grow the economy – experts explain

    Source: The Conversation – UK – By Linda Yueh, Fellow in Economics/Adjunct Professor of Economics, University of Oxford

    For the first time in 14 years, it was a Labour chancellor who delivered the UK budget. And for the first time ever, that chancellor was a woman. But Rachel Reeves faces an almighty task: plugging a £40 billion spending gap in the knowledge that pre-election promises not to raise the main taxes are still fresh in people’s memories.

    Growth was the buzzword of the election campaign – Reeves now had to lay her cards on the table. So here’s what our panel of experts made of the plans:

    More challenges for employers and small businesses

    Shampa Roy-Mukherjee, Associate Professor in Economics, University of East London

    The budget introduces £40 billion in tax hikes and, in some areas, spending cuts that will put pressure on the economy and business in particular. But it also reflects the government’s focus on economic growth, with policies intended to stabilise finances while addressing some of the concerns of small businesses.

    The chancellor has retained her commitment to preserve the rates of income tax, employee national insurance and VAT. But a notable change is the increase in employers’ national insurance contributions (NICs) from 13.8% to 15%.

    There was also a reduction in the secondary threshold, which is the amount at which the employer starts paying NI on each employee, from £9,100 to £5,000. Altogether this will raise £25 billion annually but will significantly impact many businesses that will now face higher wage bills.

    The national living wage is also rising by 6.7% to £12.21 per hour in April 2025, boosting incomes for about three million workers but again increasing costs for many businesses. These rising taxes and wage increases, alongside incoming employment regulations, will strain businesses, particularly in sectors with high labour demands.

    To offset some of these pressures, the employment allowance, which allows some smaller employers to reduce their NICs, has been raised from £5,000 to £10,500. The chancellor said that over 1 million employers will not see their NICs bill rise as a result.

    Small businesses in retail, hospitality and leisure, where profits have been hit as consumers struggle with the cost of living, will benefit from a 40% business rate relief on properties up to £110,000. Other supportive measures include a continued freeze on fuel duty, which will aid logistics and transport costs. Corporation tax remains fixed at 25%.

    At the next stop they’re putting up bus fares.
    Mistervlad/Shutterstock

    Higher wages for three million, but it could cost more to get the bus to work

    Rachel Scarfe, Lecturer in Economics, University of Stirling

    The biggest change for those on low incomes was an increase in the national minimum wage (for 18 to 20-year-olds) of 16.3%, from £8.60 to £10 an hour, and an increase in the national living wage (for employees aged 21 and over) of 6.7%, from £11.44 to £12.21, from April 2025. This will lead to a pay rise for more than 3 million workers.

    Business associations warn that this will cause job losses, particularly in hospitality and the care sector, where many employees earn the minimum wage. But a large body of research has not found a negative effect of minimum wages on employment.

    There is some evidence that earlier minimum wage rises caused an increase in the number of zero-hours contracts in social care, as firms tried other ways to reduce wages. However, the new employment rights bill introduced earlier in October would limit the use of zero-hours contracts in this scenario.

    The budget could have an indirect effect on pay packets though. The effect of the change to employer NICs will be greater in sectors with more low-paid workers, such as hospitality, and employer associations have warned that it will risk jobs. There is also some evidence that in the long term, firms pass some of these costs on to employees by reducing their wages.

    However, the minimum wage increase will reduce the capacity for firms to reduce wages. And any long-term effect would also be offset by lower income taxes that will come after 2028 when the chancellor has said she will increase the threshold at which people starting paying tax.

    So if wages and profits fall because of increased contributions, then the amount Reeves raises will be lower than expected, because income and corporation tax receipts will be hit.

    Another indirect factor affecting incomes is the cost of getting to work. The fuel duty freeze will continue, but the bus fare cap will increase from £2 to £3. Lower-paid workers and jobseekers are much more likely to use the bus than those with higher incomes, who are more likely to drive, but the cost of bus travel increased much more than the cost of train travel or petrol over the last parliament.

    The fare cap reversed some of this increase, and some evidence shows that it led to more people travelling by bus. But the new £3 cap will only last until the end of 2025, which may be too soon to see much effect.

    Second thoughts about that second home?
    Andrew Roland/Shutterstock

    Taxing times for the wealthy

    Jonquil Lowe, Senior Lecturer in Economics and Personal Finance, The Open University

    As expected, the budget targeted several wealth taxes, including capital gains tax (CGT), which is charged on profits you make when you “dispose of” (sell or give away) an asset. The first slice of such profits (£3,000 in 2024-25) is tax-free. Profit above that is added to your income to determine what rate will apply: a lower rate for profit covered by the basic income tax rate band and a higher rate on anything more.

    Reeves announced that CGT rates on financial assets – things like shares – will immediately increase from 10% to 18% (for the lower rate) and from 18% to 24% (for the higher rate). Financial assets account for around 85% of all disposals within the scope of CGT, but only around 350,000 people a year pay the tax.

    This brings the rates on financial assets into line with residential property, such as a second home. (There is no CGT when you sell or give away your only or main home.) But this still leaves wealth taxed less heavily than income.

    The government says it is committed to tackling the UK’s housing shortage. So to deter multiple home ownership, it has raised stamp duty for people buying a second (or third or fourth) home. Purchases completed will now incur an extra 5% tax (currently 3%) over and above the normal stamp duty rates.

    There were also changes to inheritance tax (IHT). Pension savings left unused at death have in recent years been passed on tax free. But from April 2027, the savings will count as part of the estate and be subject to IHT at a rate of up to 40%.

    The first slice of the estate a person leaves, called the nil-rate band, is IHT-free, and that band has been frozen at £325,000 since 2010. Reeves extended the freeze until April 2030.

    As a result of these changes, the government expects almost 6% of estates to pay IHT this year, up from fewer than 5% in recent years. People in London and the south east are more likely to be IHT-payers, largely due to higher property values in those areas.

    A downpayment on growth – but probably not quickly

    Linda Yueh, Adjunct Professor of Economics, University of Oxford

    The chancellor declared that the government will “invest, invest, invest”. This is an important enabler of economic growth.

    But, the country’s creditors need reassuring, so Reeves also announced two new fiscal rules that aim to achieve that balance of allowing the government to borrow to invest (and generate growth), but not to pay for day-to-day spending.

    Specifically, the investment rule permits borrowing to invest and the stability rule requires day-to-day spending to be paid for by taxes. Both rules support the government’s growth aims while trying to reassure the country’s creditors that the borrowing will pay off by generating future growth – and also higher tax receipts with which to repay that borrowing.

    But spending watchdog the Office for Budget Responsibility (OBR) has downgraded the UK’s GDP growth outlook from 2% to 1.8% in 2026, and to 1.5% in 2027 and 2028. The OBR’s forecast of slower growth highlights the impact of the £40 billion of tax increases, which dampens economic activity.

    This underscores the government’s challenge of investing to grow while at the same having to raise taxes to balance the books when it comes to its daily spending. In particular, the OBR’s assessment of slowing growth towards the middle of this parliament raises questions about how long it will take for the investment-fuelled growth to materialise.

    It may be that five years is still too short a period. Many physical investments require planning and those reforms could also take a while. Moreover, getting investment projects under way requires scoping, and private investors will want time to assess before joining the government in energy projects.

    But this budget is certainly a start on a much-needed growth strategy.

    Clean energy boost?
    StudioFI/Shutterstock

    Good news on public investment – emerging industries could benefit

    Phil Tomlinson, Professor of Industrial Strategy, University of Bath

    The key budget change related to the chancellor’s fiscal rules. By redefining how public debt is calculated, Reeves has been able to increase public investment by around £100 billion. The new fiscal rules have gone not as far as some economists have advocated – but they are a welcome step in the right direction.

    Investment was the core focus of the budget. For decades, the UK has suffered from low investment and weak productivity compared to other leading economies. Since 1990, the UK’s investment gap with the average across rich countries in the Organisation for Economic Co-operation and Development (OECD) has been around £35 billion a year – the UK now ranks 28th of 31 OECD countries on business investment. British workers are using outdated kit and so are less productive. This has meant a stagnant economy and lower living standards.

    So, the budget’s plans to boost investment in the UK’s crumbling infrastructure and public services and to support the new industrial strategy are a positive move. The latter should see additional funding to support emerging tech industries, such as artificial intelligence, cyber and clean energy. And this public investment should “crowd in” additional private investment.

    In the long run, these investments should pay for themselves. For instance, the Office for Budget Responsibility estimates that a sustained increase in public investment of 1% of GDP increases that GDP by 0.5% after five years and more than 2% after ten to 15 years.

    The rise in employer national insurance contributions will increase business’s operating costs, especially those in the care and hospitality sectors. But paradoxically, in the long run, it may encourage some businesses (in sectors where it is feasible) to invest in new labour-saving capital equipment.



    Read more:
    Rachel Reeves is the UK’s first female chancellor. Here’s why that’s so significant

    The NHS gets a cash injection – but it may not go that far

    Karen Bloor, Professor of Health Economics and Policy, University of York

    Amid all the gloomy pre-budget talk of tough choices and economic problems, would the government’s plans to improve the NHS cheer up the country (England, at least)? Not entirely.

    On the plus side, the chancellor promised a generous spending increase of £22.6 billion in the year 2025 to 2026, with £3.1 billion on capital investment. But solving the problems of the NHS is not just about money, and there will be difficult decisions to come.

    Meanwhile, increases in employers’ national insurance contributions, while raising funds, will also have a big impact on the NHS, which employs over 1.5 million people. So the additional spending may be less than it appears.

    The new government has said it has three main priorities for healthcare in England: moving care from hospitals to the community, moving resources from treatment to prevention, and changing systems from analogue to digital. None of these ideas are new, and there are good reasons why they haven’t happened already.

    Expanding primary and community care often does not translate into reduced demand for hospital services – in fact, it can do the opposite, by uncovering previously unmet needs. And successive governments have failed to address long-standing problems in social care, which is crucial to addressing pressures on the NHS. A successful NHS means people living longer, but often with long-term health problems.

    Returns on investment in preventing illness can be substantial, but they vary widely, and can be difficult to achieve. This is particularly true when it comes to interventions needing individual behaviour change, such as increasing exercise or cutting down on alcohol. Even when clearly positive, they take a very long time to generate cost savings.

    And there are other aspects of the chancellor’s plans which could arguably harm public health. Abolition of winter fuel payments for example, could affect the health of older people on low incomes.

    Rising bus fares could affect people’s ability to attend appointments, and the controversial two-child benefit cap, which can affect child health remains in place.

    Finally, while technology should improve the efficiency of services, people need care from people. Capital investment – in scanners, radiotherapy machines and diagnostics – will need to be matched by the cost of the professionals who operate them and interpret their findings.

    Karen Bloor receives funding from the NIHR policy research programme to conduct responsive analysis for the Department of Health and Social Care,

    Phil Tomlinson receives funding from the Engineering and Physical Sciences Research Council (EPSRC) for Made Smarter Innovation: Centre for People-Led Digitalisation.

    Rachel Scarfe is a member of the Labour Party.

    Jonquil Lowe, Linda Yueh, and Shampa Roy-Mukherjee do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. What Labour’s first budget means for wages, taxes, business, the NHS and plans to grow the economy – experts explain – https://theconversation.com/what-labours-first-budget-means-for-wages-taxes-business-the-nhs-and-plans-to-grow-the-economy-experts-explain-242509

    MIL OSI – Global Reports –

  • MIL-OSI Global: Colonialism, starvation and resistance: How food is weaponized, from Gaza to Canada

    Source: The Conversation – Canada – By Charles Z. Levkoe, Canada Research Chair in Equitable and Sustainable Food Systems, Lakehead University

    For more than a year, the Israeli state has been engaged in a massive incursion into Gaza following the October 2023 Hamas attack against Israel.

    In March 2024, Francesca Albanese, the United Nations Special Rapporteur on the situation of human rights in the Occupied Palestinian Territories, announced: “There are reasonable grounds to believe that the threshold indicating the commission of the crime of genocide…has been met.”

    A core element of this apparent genocide includes food militarization and weaponization, a tactic that has also been used by Canada to exterminate, dispossess and control Indigenous populations.

    We have come together as a group of critical food systems scholars to examine the parallels between the weaponization of food in Gaza and Canada to bring about the systematic destruction of Indigenous Peoples. But we’ve also observed that food has been a powerful tool of resistance and resurgence.



    Read more:
    Israeli siege has placed Gazans at risk of starvation − prewar policies made them vulnerable in the first place

    Food as a weapon

    Throughout modern history, food has been deployed as a weapon by colonial regimes to control and displace Indigenous populations. The current crisis in Gaza has brought this into sharp focus as the Israeli state has engaged in the systematic destruction of Palestinian food systems, with devastating consequences.

    Israel’s blockade of Gaza, in place since 2007, has cut off access to essential agricultural areas and restricted fishing activities. Gaza farmers are often unable to access their land, while fishers are constantly barred from accessing the coast, harassed, intimidated and even killed by Israeli forces.

    This blockade, combined with military operations that destroy farmland, trees and infrastructure, has resulted in more than 95 per cent of people in Gaza facing severe food insecurity and a famine declared by the United Nations experts in the summer of 2024.



    Read more:
    Starvation is a weapon of war: Gazans are paying the price

    Canada’s use of food weaponization

    Throughout the 19th and 20th centuries, the Canadian government employed similar tactics to restrict Indigenous Peoples’ access to land, food and water. Colonial policies like the Indian Act, the Homesteading Act and the Pass System confined Indigenous Peoples to reserves, prohibited hunting and fishing and forced reliance on inadequate government food rations.

    This led to malnutrition and starvation, particularly in response to Indigenous resistance to settler expansion. The use of food as a weapon was part of a broader project to eliminate or otherwise undermine Indigenous identity and self-determination, a process that continues today.

    From ongoing boil-water advisories to environmental degradation caused by mining, oil and gas extraction, forestry, agriculture and chemical production, settler governments and industries continue to dispossess Indigenous Peoples from their lands and undermine their livelihood.

    These practices have severely and disproportionately impacted Indigenous health and well-being, as well as their food systems.



    Read more:
    Colonialists used starvation as a tool of oppression

    The Scream, by Kent Monkman (2016), was part of a travelling exhibition in 2017 on colonized Canada entitled ‘Shame And Prejudice: A Story Of Resilience.’
    (Courtesy of Kent Monkman)

    Israel targets food infrastructure

    In the occupied Palestinian territories, Israeli control over land and resources reflects a similar colonial dynamic. Laws like the Absentee Property Law of 1950 facilitated the expropriation of Palestinian land.

    Meanwhile, the Israeli military has systematically targeted Gaza’s food infrastructure and used starvation as a weapon of war, according to Human Rights Watch. Satellite imagery shows that 70 per cent of Gaza’s tree cover has been eliminated or damaged, and about one-third of greenhouses have been demolished.

    Tanks and trucks have decimated orchards, field crops and olive groves.

    An estimated 800,000 tonnes of asbestos among the debris of destroyed buildings will result in asbestos-related diseases for generations to come. Under the Geneva Conventions, destruction of civilians’ means of survival and starvation as a tool of warfare is strictly prohibited.

    Food as resistance

    Food has also long been mobilized as a powerful tool of resistance. Among Palestinians, struggles for food sovereignty have played a critical role in self-determination.

    Palestinians continue to cultivate their land under the rubble, grow olive trees despite ongoing violence and maintain food practices that connect them to their lands and their cultural heritage.

    Similarly, Indigenous nations and communities across Canada have used food as a form of resurgence. Alongside land back movements, efforts to revitalize Indigenous food systems — such as hunting, fishing, growing and gathering — are central to movements for Indigenous sovereignty.

    Learning about and enacting traditional food practices are important acts of resistance, as these practices sustain communities, strengthen connections to land and assert rights over the unceded territories Indigenous Peoples are fighting to reclaim. By reclaiming and rebuilding their land and food systems on their own terms, they continue to challenge colonial structures.

    Food, colonialism and resistance

    The destruction of food systems in Gaza and Canada is part of a larger effort of land dispossession and capitalist accumulation. By severing Indigenous Peoples’ connection to their food systems, settlers and colonial regimes have sought to control not only the land but also the people who depend on it.

    Yet, through food sovereignty movements, these same populations are reclaiming their right to self-determination and building global networks of solidarity.



    Read more:
    Indigenous food sovereignty requires better and more accurate data collection

    The struggle for food sovereignty is inseparable from broader struggles for land, justice and self-determination.

    Connecting the dots between the Palestinian territories and Canada provides powerful examples of global colonial relations and struggles for justice and self-determination. It challenges us to critically examine the role of food in these struggles and demand government accountability.

    We wish to acknowledge Mustafa Koç, professor emeritus at Toronto Metropolitan University, as a co-author and to thank Max Ajl, Yafa Al Masri and Justin Podur for contributions to this article.

    Charles Z. Levkoe receives funding from the Social Sciences and Humanities Research Council of Canada and the the Government of Ontario.

    Sarah Rotz receives funding from the Social Sciences and Humanities Research Council of Canada.

    Tammara Soma receives funding from the Social Sciences and Humanities Research Council of Canada.

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

    – ref. Colonialism, starvation and resistance: How food is weaponized, from Gaza to Canada – https://theconversation.com/colonialism-starvation-and-resistance-how-food-is-weaponized-from-gaza-to-canada-241525

    MIL OSI – Global Reports –

  • MIL-OSI: P4L AI Reaches 14 Billion in Turnover in Under a Month, Revolutionizing the Telegram Mini App Landscape

    Source: GlobeNewswire (MIL-OSI)

    PANAMA CITY, Panama, Oct. 30, 2024 (GLOBE NEWSWIRE) — P4L AI, the groundbreaking AI-powered betting assistant, has rapidly ascended as a leading innovator in the online gaming industry. With advanced AI capabilities designed to enhance user success in RNG-based games, P4L AI has set a new standard across top betting platforms, delivering an elevated gaming experience that has captured the market’s attention.

    A Transformative Force in Gaming

    P4L AI’s state-of-the-art technology integrates with renowned gaming platforms like Stake, Rollbit, Betfury, BC Game, TG Casino, and BullSpin. This seamless integration enriches the gaming journey, offering users data-driven insights and personalized strategies to boost their winning potential. With an intuitive interface, P4L AI empowers everyone from casual players to seasoned gamers to leverage sophisticated analytics with ease.

    The P4L AI platform features flagship offerings such as the AI Betting Assistant and On-Chain Whitelabel solution. The AI Betting Assistant provides personalized recommendations based on individual behaviors and preferences, while the On-Chain Whitelabel enables partners to incorporate P4L AI’s advanced technology into their offerings. Together, these tools form a powerful foundation that drives revenue and user engagement.

    In its pursuit to make gaming accessible and engaging, P4L AI recently launched a suite of interactive tools, including a Telegram Bot, TG Mini-App, and a selection of exclusive games. These features have significantly boosted user engagement, creating new ways for players to interact with the platform.

    Notable Milestones Reflecting Rapid Growth and Success

    P4L AI’s journey has been marked by a series of impressive achievements that underline its popularity and performance:

    • 600,000 Total Users: Reaching half a million users underscores P4L AI’s broad market appeal and the effectiveness of its AI-powered tools.
    • 200,000 Active Users: This active user base showcases P4L AI’s commitment to fostering a dynamic community of engaged players.
    • 5 Billion Earned by Users: Users have collectively earned an impressive 4 billion, demonstrating the platform’s potential for rewarding gameplay.
    • 15 Billion Turnover: The substantial turnover signifies P4L AI’s strong engagement and activity, solidifying its leadership in the gaming sector.
    • 200,000 Community Members: P4L AI’s thriving community contributes to a vibrant exchange of tips, strategies, and shared experiences.

    Future Expansion into $P4L Tokens

    P4L AI users benefit from in-platform diamonds, which they will soon be able to convert into $P4L tokens. This planned feature will allow users to transform their in-app achievements into tangible assets, enhancing the P4L economic ecosystem.

    Strategic Growth and Innovation Goals

    Looking ahead, P4L AI aims to expand its user base to 10 million by Q4 2024, with plans to achieve a 50% active user rate and a 25% daily active user rate on the P4L Mini-App. Additional feature rollouts and new strategic partnerships are also in the pipeline, with private investors joining to boost platform capabilities and broaden P4L AI’s presence in the competitive online gaming sector.

    P4L AI’s collaborative network includes FoxCoin, Etaku, Captcha, Poplaunch, EasyCake, Start AI, Gemsee, Qappi, BeeVerse, Cat Planets, Hamster Republic, TapOnBase, Vfilm, Akefish, Lamaz, Get Game, TonOS, Lil Piggies Restaurant, Metaracing, Habbit, BearFi, Ton AI, and All At Once. Together, these partners bring unique expertise and vision, collectively driving unprecedented growth across multiple sectors.

    Dedicated to Responsible Gaming

    As part of its mission, P4L AI promotes responsible gaming practices, encouraging users to set limits and use self-assessment tools. Collaborating with industry organizations, P4L AI is committed to raising awareness and providing support resources to ensure a safe and positive gaming experience.

    Contact P4L AI

    P4L AI Mini App: https://t.me/p4l_bot/launch
    Chat Group: https://t.me/P4LAIchat
    Telegram Channel: https://t.me/P4LAI
    Website: https://www.p4l.ai/
    X (formerly Twitter): https://x.com/p4lai_
    Media Assets: P4L AI Media Kit
    Contact: James Solo on Telegram

    Contact :
    Persons Name: James Solo
    Email id: hi@P4L.ai

    Disclaimer: This content is provided by P4L AI . The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    The MIL Network –

  • MIL-OSI USA: Mfume & Sessions Request GAO Examine $2.7 Trillion in Improper Payments and Provide Anti-Fraud Recommendations

    Source: United States House of Representatives – Congressman Kweisi Mfume (MD-07)

    WASHINGTON, D.C.—Subcommittee on Government Operations and the Federal Workforce Chairman Pete Sessions (R-Texas) and Ranking Member Kweisi Mfume (D-Md.) are advancing bipartisan oversight to tackle improper payments and fraud in federal government programs. In a letter to the Comptroller General at the U.S. Government Accountability Office (GAO) Gene Dodaro, they request information on how federal agencies are identifying root causes of improper payments and implementing corrective actions and ask GAO to provide recommendations to help reduce improper payments across federal agencies.

    “The Subcommittee on Government Operations and the Federal Workforce recently held its third hearing related to improper payments and fraud in the federal government. The goal of that hearing was to discuss agencies’ progress preventing improper payments and fraud in the federal government’s lifesaving programs,” wrote the lawmakers. “The Subcommittee seeks to continuously evaluate whether agencies are getting better or worse at ensuring the levels of fraud seen during the pandemic will “never happen again.” Unfortunately, because of limited or unreliable information maintained by federal agencies, the Subcommittee has been unable to adequately assess agencies’ progress.”

    The Subcommittee on Government Operations and the Federal Workforce recently held a hearing where the GAO highlighted improper payments and fraud across government, totaling $2.7 trillion in improper payments since 2003. Witness testimonies at prior hearings made clear that continuing to do the same things to address improper payments is not fully addressing a long-term problem. The Office of Management and Budget (OMB) has identified a list of high priority programs, which are those with the highest dollar value or rate of improper payments or those with the highest risk of improper payments. 

    “Federal law requires [high priority] programs report information such as the root causes of their improper payments, mitigation strategies, and corrective action measures. However, the amount of improper payments within these programs continues to grow,” continued the lawmakers. “We ask that GAO regularly update Subcommittee staff on the progress of this review and provide periodic briefings on known practices that have helped prevent improper payments and fraud.

    Read the letter to Comptroller Dodaro here.

    ###

    MIL OSI USA News –

  • MIL-OSI Europe: Written question – Protection of seals and cormorants – E-002230/2024

    Source: European Parliament

    23.10.2024

    Question for written answer  E-002230/2024
    to the Commission
    Rule 144
    César Luena (S&D)

    Following the recent decision of the Council[1] to adopt the European Commission’s proposal to lower the protection status of wolves uner the Bern Convention, a number of Member States’ ministers for agriculture, notably from the Baltic and Scandinavian region, expressed concerns about the impact of cormorants and seals on fisheries and food security, calling for a relaxation of EU regulations limiting their control.

    Against this background:

    • 1.Does the Commission intend to propose additional amendments to the Bern Convention that would include reducing the protection of other species in addition to the wolf?
    • 2.With regard to the Habitats Directive, does the Commission plan to review the protection status of key species currently covered by this legislation, such as wolves, seals and cormorants?
    • 3.Given the impact of these potential reforms, what measures is the Commission considering to ensure that potential decisions related to the reduction of species protection continue to be based on sound technical and scientific evidence, as required by Article 19 of the Habitats Directive, and aligned with the EU’s commitments on biodiversity and sustainability?

    Submitted: 23.10.2024

    • [1] https://www.consilium.europa.eu/es/press/press-releases/2024/09/26/bern-convention-eu-will-propose-changing-the-conservation-status-of-wolves/.
    Last updated: 30 October 2024

    MIL OSI Europe News –

  • MIL-OSI USA: Cassidy Discusses Infrastructure in Acadia Parish, Tours Catholic Charities in Lafayette

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy
    LAFAYETTE – Yesterday, U.S. Senator Bill Cassidy, M.D. (R-LA) spoke before the Rotary Clubs of Crowley and Rayne, and hosted a rural community funding summit in Rayne, to highlight the opportunities available for communities in Acadia Parish to benefit from his Infrastructure Investment and Jobs Act (IIJA).
    “Part of my goal in writing the Bipartisan Infrastructure Bill was to help growing communities in Acadiana prevent flooding, improve highways, fix water and sewage problems, and connect their towns to high-speed broadband,” said Dr. Cassidy. “Working in partnership with mayors and police jurors, we help get them the resources to meet these needs and keep making Acadiana a place where our children want to stay.”
    Since the IIJA was passed in August of 2021, millions of dollars have been spent on projects that benefit residents of Acadia Parish, including over $54.8 million for slab repair in the I-10: Jeff Dav PI-I-49 project. Additionally this year, over $349,000 was awarded to install landslide perimeter fencing and access gates at the Le Gros Memorial Airport in Crowley, and over $928,000 was granted for flood mitigation elevations in the parish. Surrounding parishes have also received money to make improvements to their infrastructure.
    Cassidy has visited Acadiana multiple times, including in July to Acadia Parish to meet with mayors from Crowley, Duson, Elton, Estherwood, Kaplan, Lake Arthur, Maurice, Rayne, Vinton, and Welsh. At both the Rotary meeting and the rural community funding summit, he was welcomed by local leaders.
    “We appreciate Senator Cassidy visiting us today and speaking to the Crowley and Rayne Rotary Clubs, along with the Crowley Lions Club and others,” said Ms. Katie Chiasson, member of the Crowley City Council and board member for the Rotary Club of Crowley. “It was good to get updates from him on infrastructure, insurance and other important issues.”
    “I appreciate Senator Cassidy bringing representatives of federal and state agencies to our region to discuss how mayors, police jurors and city council members can access the funds from his infrastructure bill,” said Mr. Chuck Robichaux, mayor of Rayne. “Our constituents want better roads, cleaner water and more jobs in our communities. We also want to make sure that the benefits of high-speed broadband come to Acadiana. I appreciate Senator Cassidy’s leadership on these topics and look forward to working with him in the future.” Robichaux co-sponsored the rural community funding summit with the Louisiana Municipal Association, the Louisiana Housing Corporation and LITACorp.
    Later, Cassidy toured Catholic Charities of Acadiana in Lafayette, including visiting their regional disaster warehouse where they store supplies that victims of floods and hurricanes need to survive. Cassidy also visited their St. John Street Campus, where he learned about their efforts to provide accommodations for the homeless and find permanent housing for homeless veterans.
    “Catholic Charities in Lafayette helps the homeless and the addicted while fulfilling the mission of Christ to care for the less fortunate,” said Dr. Cassidy.
    Cassidy himself has taken steps to support those who volunteer in their communities. In September, he introduced bipartisan legislation to reauthorize and strengthen AmeriCorps programs, which provide national service opportunities to more than 200,000 Americans every year in thousands of communities around the country. He has also previously introduced bipartisan legislation to provide medical professionals with a limited, but consistent, level of legal protection while volunteering during federally-declared disasters. Before being elected to Congress, Cassidy himself co-founded the Greater Baton Rouge Community Clinic and converted an abandoned K-Mart building into an emergency health care facility in the wake of Hurricane Katrina.
    Cassidy was led on a tour of Catholic Charities’ facilities by their CEO, Ms. Kim Boudreaux.
    “We are grateful to have had the opportunity to offer Senator Cassidy a firsthand look at the programs we provide at Catholic Charities of Acadiana,” said Ms. Boudreaux. “Every day, our organization works to address the urgent needs of our neighbors in Acadiana who are experiencing homelessness, hunger, poverty, and situational crisis. Additionally, we offer critical support to survivors of natural disasters, helping them rebuild and restore their lives. Senator Cassidy’s visit underscores the importance of these critical services, and we hope it will inspire continued collaboration and support as we work together to bring healing, stability and hope to the most vulnerable members of our community.”

    MIL OSI USA News –

  • MIL-Evening Report: The UN warns famine is likely in Gaza. What do malnutrition and hunger do to the body?

    Source: The Conversation (Au and NZ) – By Clare Dix, Lecturer In Nutrition & Dietetics, University of the Sunshine Coast

    Anas-Mohammed/Shutterstock

    The risk of famine looms in Gaza. International monitors warn more than 90% of the population face acute food insecurity, meaning their inability to eat enough food puts them in immediate danger of starvation. The number experiencing “catastrophic” hunger is set to double in the coming months.

    Israel has been accused of deliberately blocking humanitarian aid, including food. In September, deliveries of food and aid to Gaza fell to their lowest in seven months after Israel introduced new customs rules.



    Read more:
    Gaza: weaponisation of food has been used in conflicts for centuries – but it hasn’t always resulted in victory

    The World Health Organization has repeatedly warned about the consequences of hunger and food insecurity in the region, including the impact on rising infection rates and increased child mortality.

    The scale of this humanitarian crisis could be overwhelming, as extreme hunger threatens to engulf an entire population – nearly half of which are children.

    What does hunger mean for people’s health – especially children – at the individual level? And will survivors be able to recover from the damage?

    Who is most at risk?

    Food shortages mean people not only eat less overall but can miss out on essential nutrients.

    This can lead to severe acute malnutrition. In children, this means measurable negative effects on bodily functions and growth, including weight and muscle loss.

    Some people will experience the effects of starvation more rapidly. Those most at risk have low stores of energy and protein, and/or higher nutritional needs for growth and development. They include the elderly, infants, children, and women who are pregnant or breastfeeding.

    Childhood nutrition is critical

    From a nutritional viewpoint, the first 1,000 days of life are a critical window for growth and development.

    During this time, the microbiome (the bacteria that live in our digestive system) develops and is influenced by external factors such as diet, and exposure to microbes and pollutants, which shape how the body and immune system function.

    Severe acute malnutrition has several short-term impacts. Malnourished children have reduced immunity, meaning they are less able to fight infections – such as E.coli – partly due to changes to their microbiome. This makes them more vulnerable to contaminated food and water.

    Bacterial infection is a leading cause of death for children with severe acute malnutrition.

    Israel has destroyed around two-thirds of Gaza’s water systems, according to UNICEF, forcing children to drink unsafe water and increasing their exposure to sewage and waterborne diseases.



    Read more:
    Polio in Gaza: what does this mean for the region and the world?

    Long-term impacts of malnutrition

    The effects of malnutrition and starvation during childhood continue into adulthood. Those who survive have a higher risk of developing chronic diseases, including diabetes, high blood pressure and metabolic syndrome (a cluster of conditions that can increase your risk for heart disease and stroke).

    Damage to the gut lining can also cause long-term inflammation. This may make it harder to absorb nutrients, increase the risk of bacterial imbalances, and stop the pancreas and liver working properly.

    Muscle loss and changes in electrolytes can also impact the heart, increasing the risk of arrhythmia (irregular heartbeat).

    What about the brain?

    Malnutrition can harm brain development in children. It can reduce brain size and slow growth, potentially impairing function and memory.

    Impacts on how the brain develops could affect cognition, behaviour and reduce academic achievement.

    More research is needed to understand how malnutrition during childhood affects mental health. But studies suggest it may be linked to personality disorders, attention deficits, lower self-esteem and reduced quality of life.

    For children in Gaza, these harms will likely be compounded by trauma and displacement.

    Impact during pregnancy

    Malnutrition can also affect the health of unborn babies. Famine and food shortages in Gaza mean pregnant women are not getting enough folate, iron, vitamin B12 and iodine. These nutrients are crucial to ensure their baby’s healthy delivery and reduce long-term health impacts.

    Nutritional deficiencies for the mother during pregnancy can increase the baby’s risk of clinical obesity, type 2 diabetes and metabolic syndrome.

    Although less well-studied, there is also evidence a father’s diet, health, sperm quantity and quality can have similar health impacts on their offspring.

    How is severe acute malnutrition treated?

    Severely malnourished people need nutritional rehabilitation. This involves slowly increasing nutrient intake – by around 25% above normal requirements – and eating high-quality, protein-rich foods, essential fatty acids, vitamins and minerals.

    During the initial treatment phase children may need to be hospitalised. One concern is refeeding syndrome, a condition where sudden availability of glucose can cause rapid changes in electrolytes. In extreme cases, this can cause heart failure. Researchers are also investigating how to restore the microbiome of malnourished children.

    But access to adequate treatment is not assured, given the widespread damage to Gaza’s hospital system.

    Unfortunately successful treatment doesn’t guarantee survival. Lasting impacts of severe acute malnutrition are linked to high rates of disease and early death, even after treatment. Studies suggest up to 10.4% of children successfully treated in hospitals do not survive 12 months after they’re discharged.

    The devastating social and food conditions in Gaza are unimaginable to those of us living in other parts of the world. With no end in sight, the impact of food insecurity and lack of humanitarian aid can only lead to an escalation of the rates of malnutrition and diseases in those most vulnerable.

    The long-term consequences for Palestinians will be felt for generations to come.

    Clare Dix has received funding from the Australian Department of Health and Aged Care.

    Helen Truby receives funding from the Commonwealth Department of Health and Ageing, the MRFF, the NHMRC and various philanthropic agencies.

    – ref. The UN warns famine is likely in Gaza. What do malnutrition and hunger do to the body? – https://theconversation.com/the-un-warns-famine-is-likely-in-gaza-what-do-malnutrition-and-hunger-do-to-the-body-241682

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Not too big, not too small: why modern humans are the ideal size for speed

    Source: The Conversation (Au and NZ) – By Christofer Clemente, Assistant Professor in Evolutionary Biomechanics, University of the Sunshine Coast

    The fastest animal on land is the cheetah, capable of reaching top speeds of 104 kilometres per hour. In the water, the fastest animals are yellowfin tuna and wahoo, which can reach speeds of 75 and 77 km per hour respectively. In the air, the title of the fastest level flight (excluding diving) goes to the white-throated needletail swift, at more than 112 km per hour.

    What do all of these speedy creatures have in common? None of them are particularly big, nor particularly small for the group of animals they represent. In fact, they are all intermediately sized.

    The reason for this is a bit of a mystery. As animals increase in mass, several biological features change as well. For example, in general leg length steadily increases. But clearly long legs are not the answer, since the largest land animals, like elephants, are not the fastest.

    But my colleagues and I have taken a key step towards solving this mystery. By using a scaleable, virtual model of the human body, we were able to explore the movement of the limbs and muscles, find out what limits speed, and gain important insights into the evolution of the human form over thousands of years.

    From a mouse-sized human to a giant

    Since the early 2000s scientists have been building OpenSim – a freely available, virtual model of the human body, complete with all its bones, muscles and tendons.

    This model has been used in various scientific studies to understand human movement, explore exercise science and to help model the effects of surgery on soft tissues.

    In 2019 a group of Belgium researchers took this one step further, and built a physics-based simulation using OpenSim. Rather than telling the model how to move, they asked it to move forward at a certain speed. The model then figured out which combinations of muscles to activate so it could walk, or run, at the prescribed speed.

    But what if we took this even further and scaled the model down to the size of a mouse? Or what if we scaled the model up to the size of an elephant? Then we could see which models could run – and how fast.

    Predictive muscle-driven simulations of 5kg, 50kg, and 500kg musculoskeletal models moving at 2.25 metres per second.

    This is exactly what my team did. We took the standard human model (75kg), and made smaller and smaller models down to 100 grams. We also made the models bigger, up to 2,000kg, and challenged them to run as fast as they could.

    Getting the mass just right

    Several fascinating things happened when we did this.

    First, the 2,000kg model couldn’t move. Nor could the 1,000kg model. In fact, the largest model that could move was 900kg, suggesting an upper limit to the human form. Beyond this size we need to change shape in order to move.

    We also found that the fastest model was not the biggest nor smallest. Instead, it was around 47kg, a similar weight to an average cheetah. Crucially, we could look under the hood and see why this was so.

    The curve that explains the shape of the maximum running speed with mass is the same shape as the curve, which explains the max ground force with mass. This makes sense: to move faster, you need to push off the ground harder.

    So why couldn’t larger models push harder off the ground? It appeared the larger models were limited by their muscles.

    A muscle’s ability to produce force depends on the cross sectional area of that muscle. And as animals increase in size, the mass of their muscles gets bigger faster than their cross-sectional area.

    This means the muscles of larger animals are relatively weaker. The muscles begin to “max out” above the max speed – and so the model has to slow down.

    At the other end of the spectrum, the miniature models have relatively stronger muscles, but have a problem with gravity. They are just too light. They try to push on the ground to produce a large force, but this just causes their body to leave the ground earlier.

    To try to produce more force on the ground, they crouch their limbs, just like mice or cats do. This allows them to stay on the ground longer and so produce more force, just like you might when doing a standing jump. But this takes time. And the longer you take to produce force, the slower your stride will be and you still won’t run faster.

    So a trade off between ground force and stride frequency begins, and doesn’t end until you reach the intermediate size, where your mass is just right.

    The pattern of speed and size for running animals (in blue), showing intermediately size species (like the cheetah) are typically the fastest. Computer-generated models of humans (right), which are then scaled in size from a mouse to a horse (orange dots), show the same pattern, revealing the underlying biomechanical reasons.
    Christofer Clemente et al.

    As fast as we will get

    What might all of this say about human evolution?

    We know throughout history that the size of modern humans and extinct human species – a collective group known as “hominins” – has varied significantly, from the roughly 30kg Australopithecus afarensis that existed roughly 3.5  million years ago, to the roughly 80kg Homo erectus  from nearly 2 million years ago.

    So generally body mass has tended to increase – and presumably so too has our running speed. Homo naledi, which existed around 300,000 years ago and weighed around 37kg, and Homo floresiensis, which existed around 50,000 years ago and weighed around 27kg, must have had to sacrifice some speed for their small size.

    The average body mass of modern adult humans is around 62kg – a little heavier than the 47kg peak weight that our modelling found, but still close to that ideal size.

    Interestingly, many of our fastest long distance runners such as Eliud Kipchoge weigh around 50kg.

    So based on our new research, we now know humans today are about as fast as we will get – without large changes to our muscular form.

    Christofer Clemente receives funding from an ARC Discovery grant (DP230101886)

    – ref. Not too big, not too small: why modern humans are the ideal size for speed – https://theconversation.com/not-too-big-not-too-small-why-modern-humans-are-the-ideal-size-for-speed-241668

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Scott Slams SCOTUS Ruling Greenlighting Youngkin, Trump & GOP Voter Suppression Tactics

    Source: United States House of Representatives – Congressman Bobby Scott (3rd District of Virginia)

    Headline: Scott Slams SCOTUS Ruling Greenlighting Youngkin, Trump & GOP Voter Suppression Tactics

    NEWPORT NEWS, VA – Congressman Bobby Scott (VA-03), co-chair of the Congressional Voting Rights Caucus and Dean of the Virginia Congressional Delegation, issued the following statement on the U.S. Supreme Court’s decision reversing U.S. District Court Judge Patricia Tolliver Giles’ order requiring the Youngkin Administration to reinstate more than 1,600 voters who may have been illegally purged from Virginia’s voter rolls in violation of the National Voter Registration Act of 1993:

    “I am deeply disappointed and disturbed by the U.S. Supreme Court’s decision to greenlight blatant voter suppression efforts in the Commonwealth of Virginia. This decision will allow Governor Youngkin to strip Virginians of their right to vote in clear violation of federal law. This decision also perpetuates the falsehood that noncitizens are voting in meaningful numbers and former President Trump’s plan to undermine confidence in our elections.

    “The National Voter Registration Act is clear. It requires all states to complete any systematic removal of voters from its voter rolls 90 days before a federal election. This statute gives states ample time prior to this deadline to review its voter rolls. Most importantly, it provides voters sufficient time to rectify any improper removal prior to Election Day. U.S. District Court Judge Patricia Tolliver Giles determined that Governor Youngkin’s actions violated this statute, and the U.S. Court of Appeals for the Fourth Circuit upheld her order citing the Commonwealth’s defense of the action as ‘weak’ and that it ‘violates basic principles of statutory construction.’ Furthermore, the Fourth Circuit recognized that the Commonwealth maintains the ability to remove ineligible voters on an individualized basis to limit the risk of improper removals.

    “Unfortunately, this latest order by the Supreme Court is just one in a series of rulings that have rolled back fundamental rights, freedoms and foundational principles of our democracy. This Court gutted key provisions of the Voting Rights Act, stripped women of their right to make decisions about their own body, diminished the ability of federal agencies to protect communities from toxic pollutants, and created the foundation for a President of the United States to be immune from the law.”

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Huffman, Richardson Bay Regional Agency Celebrate Launch of New Eelgrass Protection Zone

    Source: United States House of Representatives – Congressman Jared Huffman Representing the 2nd District of California

    Initiative will protect critical environmental component of Richardson Bay

    October 30, 2024

    Sausalito, CA— U.S. Representative Jared Huffman (D-CA-02) along with the Richardson Bay Regional Agency (RBRA) and federal, state, and local partners today celebrated the launch of a new Eelgrass Protection Zone, an area of the water off-limits to anchoring that will help restore and protect a critical ecological component of the Bay.

    “This is such an important day for the environment of Richardson Bay and the entire San Francisco Bay area,” said Representative Jared Huffman. “Eelgrass acts as the foundation for so much of what we love about the bay — from supporting herring runs and thousands of migratory birds, to helping ward off the impacts of climate change. By taking these measures now, RBRA is protecting Richardson Bay’s amazing natural resources for generations to come, and I’m glad we could help support this work with funding from the Biden-Harris administration.”

    Eelgrass is a critical component of a healthy and vibrant Richardson Bay. It supports fisheries, reduces erosion, sequesters carbon and is a crucial ecological resource for harbor porpoises, seals, and sea lions. However, when anchors, chains, and other ground tackle scrape along the Bay bottom, they essentially act as a lawn mower for all living plants. This creates “crop circles” or barren areas where no eelgrass can grow.

    To combat those impacts and to provide an opportunity for eelgrass to recover, after an extensive public process, the RBRA established an Eelgrass Protection Zone (EPZ) in Richardson Bay where no anchoring is allowed. While a few vessels remain in the EPZ, all boats will eventually be removed from the area. Today, the RBRA celebrated the implementation of the EPZ with new signage and markings dictating the exact parameters of the off-limits area.

    “We’ve been able to reduce the number of vessels in the Eelgrass Protection Zone by working in a productive, supportive manner with boat owners.,” said RBRA Board Chair Jim Lynch. “From finding housing for people transitioning off the anchorage to buying back vessels people could no longer manage, we’ve worked tirelessly to find solutions to the challenge of protecting our environment while being mindful of housing needs, and the historic conditions on the Bay.”

    In 2022, there were more than 100 vessels in the Eelgrass Protection Zone. Through various efforts, the RBRA has reduced that number to just 20 as of October 23.

    Last year, the RBRA and its partners at Audubon California and San Francisco State University secured a $2.8 million federal grant from the US Environmental Protection Agency to support eelgrass restoration and protection efforts. This builds on years of investment by the National Oceanic and Atmospheric Administration, the California Ocean Protection Council, and others in improving environmental conditions in the bay through targeted restoration, marine debris removal, wildlife monitoring, and outreach.

    The EPA grant is aimed at restoring at least 15 acres of eelgrass over four years through an innovative public-private partnership centered around the EPZ. The funding was made possible by the progress RBRA and its partners have made in securing the eelgrass bed from future damage, and will support RBRA’s recently-adopted 10-year Restoration and Adaptive Management Plan for Eelgrass in Richardson Bay.

    “Initiatives like the Eelgrass Protection Zone are essential to support a healthy San Francisco Bay,” said U.S. EPA Pacific Southwest Regional Administrator Martha Guzman. “The Richardson Bay Regional Agency and its partners have established themselves as protectors of eelgrass habitat through this detailed plan that can ensure an expansion of eelgrass acres over time.”

    “This is a landmark moment for the Richardson Bay community,” said Wade Crowfoot, Secretary of the California Natural Resources Agency. “Initiatives like the Eelgrass Protection Zone play a vital role in achieving California’s goal of conserving 30 percent of our lands and coastal waters by 2030. The eelgrass habitat is essential to the rich biodiversity that makes Richardson Bay unique, and putting this plan into action will safeguard these invaluable natural resources.”

    In 2021, the RBRA entered into an agreement with the San Francisco Bay Conservation and Development Commission (BCDC), stipulating that all vessels and floating homes be removed from the anchorage by October 26, 2026, except those abiding by 72-hour time restrictions.

    The agreement with BCDC was driven in large part by the need to protect the eelgrass ecosystem of Richardson Bay. Along with supporting key fisheries, tens of thousands of migratory waterbirds rely on Richardson Bay for feeding and resting during migration along the Pacific Flyway.

    To incentivize vessels to move off the Richardson Bay anchorage, the RBRA created a housing voucher program last year, allowing boaters previously living on the water to move into safe, secure housing on land. The RBRA manages the program in collaboration with the Marin Housing Authority, Marin Health and Human Services, and Episcopal Community Services.

    Additionally, the RBRA manages a vessel buyback program, which offers eligible participants money based on the length of their boat ($150 per foot) if they turn their vessel into the RBRA for proper disposal.

    “We are proud of all that we have accomplished on Richardson Bay to create a safe, supportive and accessible environment for all,” said Marin County Supervisor Stephanie Moulton-Peters, who also sits on the RBRA Board. “We know that there is still work to be done, but if we keep working together collaboratively with our community, we can help achieve everyone’s goals.”

     ###

    MIL OSI USA News –

  • MIL-OSI USA: Golden questions regulators over proposed reduction to herring quota

    Source: United States House of Representatives – Congressman Jared Golden (ME-02)

    WASHINGTON — Congressman Jared Golden (ME-02) today sent a letter to the National Oceanic and Atmospheric Administration (NOAA) and New England Fishery Management Council (NEFMC) questioning the methodology regulators used as the basis for a nearly 90 percent reduction to the Atlantic herring fishery quota for the next three years. The fishery supplies the primary bait used in the lobster fishery. 

    “Once again, Maine fishermen find themselves on the verge of economic ruin due to federal regulations based on incomplete and inadequate data. In my conversations with fishermen, it has always been clear that their top concerns are the sustainability of the stock and the ability for it to be harvested by future generations,” Golden wrote. “That is why these decisions must always be based on scientifically sound, comprehensive data that incorporates the invaluable input of those most impacted — the harvesters themselves.”

    A July assessment by NOAA claims that the population of herring capable of reproducing is at 26 percent of the agency’s target. This sparked a proposal from NEFMC to reduce the species’ annual catch limit by 89 percent from 2025-2027 — the lowest level in the history of the Council’s Atlantic Herring Fishery Management Plan. However, Maine fishermen have expressed concern that the research vessel used to measure the herring stock is unable to operate in the areas fishermen actually target the species, instead trawling at depths fishermen avoid due to the low concentration of herring.

    According to the Maine Department of Marine Resources, Atlantic herring landings in Maine during 2019 totaled an estimated 13 million pounds and $5.8 million in ex-vessel value. 

    “NEFSA is thankful that Congressman Golden is drawing criticism to the massive, 90 percent cut to the herring quota for the next two years. Very little attention has been given to this action which will eliminate more commercial fishermen from their livelihoods,” commercial fishermenJerry LeemanandDustin Delano, CEO and COO of the New England Fishermen’s Stewardship Association, respectively, said. “We thank Congressman Golden for his efforts and hope the council will reconsider its egregious decision to further decimate the commercial fishing fleet.”

    “We’re grateful to Rep. Golden for speaking out against this misinformed change to the herring quota. Moving forward with a near total cut would be absolutely devastating for fishermen, the lobster industry, and the coastal communities that depend on them,” Virginia Olsen, commercial lobsterman and director of the Maine Lobstering Union said. “It’s more proof that he is not afraid to work across party lines to support fishermen and that matters to me.” 

    Golden’s letter pressed the agencies on whether they also include industry-based surveys like those considered by Canadian regulators, how spawning data is collected if both regulators and fishermen avoid operating in herrings’ spawning waters, and why there was not an economic impact study conducted during the process.

    “My main concern with this seemingly unreasonable quota reduction is that these fishermen will be forced to switch over to a less desirable species of fish. Next season, when everyone has to substitute herring with something else, the increased demand in these alternative baits will make the already rising cost of doing business hard for these fishermen hard to justify fishing in the spring, early summer, and late fall…” Alex Poke, general manager at the Winter Harbor co-op said. “…I expect there to be more frequent and longer periods where I can’t find any bait for the lobster fishermen here at the co-op.”

     “Thank you to Rep. Golden for highlighting these ill-informed quota reductions. These reductions will have crushing economic impacts on my family and our community,” Branden Loveyjoy, a herring fisherman and bait dealer from Columbia said. “I, too, am concerned about the sustainability of the fishery and the next generation, but these reductions go too far without the data to inform them.” 

    Full text of Golden’s letter can be found here, and is included below in full:

    +++

     

    October 30, 2024

    Michael Pentony
    Regional Administrator
    Greater Atlantic Regional Fisheries Office
    NOAA Fisheries
    55 Great Republic Drive
    Gloucester, MA 01930

     

    Jon Hare, PhD
    Science and Research Director
    Northeast Fisheries Science Center
    NOAA Fisheries 
    166 Water Street
    Woods Hole, MA 02543

     

    Cate O’Keefe, PhD
    Executive Director 
    New England Fishery Management Council
    50 Water Street, Mill 2
    Newburyport, MA 01950

    Dear Administrator Pentony, Dr. Hare, and Dr. O’Keefe: 

    I am writing to seek additional information regarding the action the New England Fishery Management Council (NEFMC) recently took to reduce the Atlantic herring fishery quota by nearly 90 percent for fishing year 2025-2027. Based on conversations I have had with Maine fishermen, I am concerned that this decision by the NEFMC was predicated on inaccurate and incomplete surveys and estimates of spawning stock biomass data that also fails to account for the potential economic impacts on fishing communities.

    As you know, the Atlantic herring fishery is an essential part of Maine’s marine economy and is the most important pelagic fishery resource in the state. According to the Maine Department of Marine Resources, in 2019 Atlantic herring landings in Maine were around 13 million pounds, valued at an estimated $5.8 million ex-vessel. This fishery also supplies the primary bait used in our lobster fishery, one of the most valuable in the nation at $464 million. Together, these fisheries employ thousands of Mainers through dealers and seafood processors, vessel and trap manufacturers, restaurants, and other coastal businesses.. 

    That is why I was alarmed when the NEFMC passed new specifications for the Atlantic herring fishery that will result in the lowest catch limits in the history of the Atlantic Herring Fishery Management Plan. This is despite the fact that for some time, I have heard from fishermen who have expressed their concerns about the Henry B. Bigelow (Bigelow), the sole survey vessel used by the federal government to determine the abundance and health of the inshore Atlantic herring stock. While the Bigelow may be a capable vessel – when operational – for conducting trawling operations in depths of 600 feet or greater, due to potential gear conflicts and bottom conditions closer to the coast, it is unable to tow in the areas that Maine’s herring fishermen utilize most. 

    This is particularly true in the interior of area 1A, which is between one and 20 nautical miles from shore. It is here where fishermen are telling me that they are observing herring in volumes they have not seen in recent years, while the Bigelow trawls areas in which they would never consider fishing. Moreover, due to major mechanical issues in the Spring of 2023, the vessel was prevented from conducting tows for the three-year stock assessments for any of the fisheries it samples – including Atlantic herring. The discrepancy between the experience of harvesters and the practical limitations of the Bigelow raises legitimate questions as to whether or not federal regulators are capturing accurate and complete data of the herring stock that is then being used to inform fishing quotas. 

    In order to better understand the methodology behind the NEFMC’s decision-making for setting a 90 percent quota reduction for Atlantic herring, I would appreciate your answers to the following questions:
     

    1. The Canadian herring fishery utilizes industry boats and fishermen who know how to operate the vessels and the gear required to target a particular fish species effectively. Has the NEFMC considered industry-based surveys that utilize the observations of experienced herring fishermen when making quota decisions or to validate assessments conducted by the Bigelow? 

    2.      Fishermen intentionally avoid spawning areas; if they catch spawned herring, they risk being shut down by federal regulators. If the Bigelow is not operating during these spawning seasons or in these areas, and fishermen are prohibited from catching spawned fish, how is this data collected? 

    3.      Based on the Atlantic herring quotas in the motion the NEFMC voted to approve for 2025-2027, we are certain to see crippling economic conditions for those fishermen and other fisheries that are dependent on herring. Why was no shore-side economic impact study conducted to understand the socioeconomic harm these proposed reductions would cause?

    Once again, Maine fishermen find themselves on the verge of economic ruin due to federal regulations based on incomplete and inadequate data. In my conversations with fishermen, it has always been clear that their top concerns are the sustainability of the stock and the ability for it to be harvested by future generations. That is why these decisions must always be based on scientifically sound, comprehensive data that incorporates the invaluable input of those most impacted – the harvesters themselves. 

    I will continue to monitor this situation closely and appreciate your attention to this important matter. 

     

    ###

    MIL OSI USA News –

  • MIL-OSI: Fully Operational Rigetti QPU Included in UK’s Recently Opened National Quantum Computer Centre

    Source: GlobeNewswire (MIL-OSI)

    The UK’s National Quantum Computing Centre (NQCC) officially opened the doors of its landmark facility on Harwell Campus on October 25. The state-of-the-art facility includes a fully operational 24-qubit Ankaa™-class Rigetti system, which will be made available to NQCC researchers for testing, benchmarking, and exploratory applications development.

    LONDON, Oct. 30, 2024 (GLOBE NEWSWIRE) — Rigetti UK Limited, a wholly owned subsidiary of Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced that the UK’s National Quantum Computing Centre (NQCC) officially opened the doors of its landmark facility on Harwell Campus on October 25. The facility will support world-class quantum computing research and provide state-of-the-art laboratories for designing, building, and testing quantum computers. Rigetti’s system located at the NQCC is a fully operational 24-qubit Ankaa™-class quantum computer, featuring tunable couplers and a square lattice for fast gate times, enhanced connectivity, and high fidelity. As part of the implementation, Rigetti will be integrating Riverlane’s technology with the long-term objective of large-scale error correction.

    In February 2024, Rigetti was awarded a Small Business Research Initiative (SBRI) grant delivered by Innovate UK and funded by the NQCC to deliver a quantum computing system based on the Company’s Ankaa-class architecture to the new facility. The 24-qubit system will be made available to NQCC researchers for testing, benchmarking, and exploratory applications development.

    Rigetti CEO Dr. Subodh Kulkarni and CTO David Rivas attended the official inauguration to celebrate the milestone.

    “The NQCC opening is a great occasion for both the UK and Rigetti. We are proud that Rigetti’s on-premises quantum computer is fully operational for the NQCC research team to pursue critical research to advance our understanding of how to use quantum computing to solve real-world problems,” says Rigetti CEO Dr. Subodh Kulkarni.

    About Rigetti
    Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. The Company’s proprietary quantum-classical infrastructure provides high performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at www.rigetti.com.

    Rigetti Computing Media Contact:
    press@rigetti.com

    Cautionary Language Concerning Forward-Looking Statements
    Certain statements in this communication may be considered “forward-looking statements” within the meaning of the federal securities laws, including but not limited to, expectations related to the Company’s 24-qubit Ankaa-class system operating at the UK’s National Quantum Computing Centre, including the results of researchers testing, benchmarking and performing exploratory applications development on that system, and the SBRI grant to the Company from Innovate UK. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company’s ability to achieve milestones, technological advancements, including with respect to its technology roadmap, help unlock quantum computing, and develop practical applications; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the ability of the Company to expand its QPU sales; the success of the Company’s partnerships and collaborations; the Company’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company’s estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives, expansion plans and continue to innovate its existing services; the expected use of proceeds from the Company’s past and future financings or other capital; the sufficiency of the Company’s cash resources; unfavorable conditions in the Company’s industry, the global economy or global supply chain, including financial and credit market fluctuations and uncertainty, rising inflation and interest rates, disruptions in banking systems, increased costs, international trade relations, political turmoil, natural catastrophes, warfare (such as the ongoing military conflict between Russia and Ukraine and related sanctions and the state of war between Israel and Hamas and related threat of a larger conflict), and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, the Company’s Form 10-Q for the three months ended June 30, 2024, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.

    The MIL Network –

  • MIL-OSI: Orange County Bancorp, Inc. Announces Third Quarter 2024 results:

    Source: GlobeNewswire (MIL-OSI)

    • Net Interest Income increased $467 thousand, or 2.1%, to $23.0 million for the quarter ended September 30, 2024, from $22.5 million for the quarter ended September 30, 2023
    • Net Interest Margin grew 3 basis points to 3.81% for the quarter ended September 30, 2024, as compared to 3.78% for the quarter ended September 30, 2023
    • Total Loans grew $49.0 million, or 2.8%, reaching $1.8 billion at September 30, 2024 as compared to $1.7 billion at December 31, 2023.
    • Total Deposits rose $101.3 million, or 5.0%, to $2.1 billion at September 30, 2024, from $2.0 billion at year-end 2023
    • Book value per share increased $4.77, or 16.3%, to $34.03 at September 30, 2024, from $29.26 at December 31, 2023
    • Trust and investment advisory income rose $521 thousand, or 20.1%, to $3.1 million for Q3 2024, as compared to $2.6 million for Q3 2023

    MIDDLETOWN, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) — Orange County Bancorp, Inc. (the “Company” – Nasdaq: OBT), parent company of Orange Bank & Trust Co. (the “Bank”) and Hudson Valley Investment Advisors, Inc. (“HVIA”), today announced net income of $3.2 million, or $0.57 per basic and diluted share, for the three months ended September 30, 2024. This compares with net income of $9.0 million, or $1.61 per basic and diluted share, for the three months ended September 30, 2023.   The decrease in earnings per share, basic and diluted, was due primarily to increases in the provision for credit losses and non-interest expense offset by increases in net interest income and non-interest income during the current period. For the nine months ended September 30, 2024, net income was $20.7 million, or $3.67 per basic and diluted share, as compared to $21.4 million, or $3.79 per basic and diluted share, for the nine months ended September 30, 2023.

    Book value per share rose $4.77, or 16.3%, year-to-date, from $29.26 at December 31, 2023 to $34.03 at September 30, 2024. Tangible book value per share increased $4.81, or 17.1%, during the same period, from $28.12 at December 31, 2023 to $32.93 at September 30, 2024 (see “Non-GAAP Financial Measure Reconciliation” below for additional detail). These increases were due primarily to earnings during the nine months ended September 30, 2024, as well as a decrease in accumulated other comprehensive income (loss) associated with a reduction in unrealized losses within the investment securities portfolio.  

    “This quarter was one in which our core and ancillary businesses continued to perform well,” said Company President and CEO Michael Gilfeather, “but earnings were negatively impacted by a significant commercial office space loan. For the quarter, we increased our provision for loan losses by $7.2 million.  This was primarily attributable to a $5.6 million reserve against an office space participation loan identified as problematic in the prior quarter, and against which we’ve already reserved nearly $4 million.  Our decision to add to the reserves was the result of further deterioration of the loan and uncertainty regarding the borrower’s commitment to payment performance and we are pursuing all remedies at our disposal. The remainder of the quarterly provision, approximately $1.6 million, was primarily attributable to loan growth during the quarter, as well as the impact associated with periodic review of our loan portfolio. We are fortunate that, despite this reserve, the strength and resilience of our business model enabled us to record $3.2 million of net income for the quarter, bringing our 9-month total to $20.7 million, as compared to $21.4 million for the same period last year.

    Loan demand and economic activity in the communities we serve remains strong. This was aided by the Federal Reserve’s long-awaited reduction in interest rates – an outsized 50 basis points – which contributed to quality loan growth experienced in the quarter.  For the quarter, total loans increased $62.3 million, or 3.6%, increasing our total loan portfolio to $1.8 billion at quarter end, up from $1.7 billion at year end 2023.   Total deposits at quarter end, though below second quarter levels due to seasonal reductions in municipal deposits and IOLA business, have grown $101.3 million, or 5.0%, since year end, eclipsing $2.1 billion. Attorneys, while not the only source of our IOLA deposits, are a significant component which have the added benefit of providing meaningful business referrals to the Bank. Total cost of deposits was 1.25% for Q3, reflecting the Bank’s ongoing commitment to growing commercial checking accounts and other low-cost deposits. Given the challenges our industry has confronted retaining, much less growing deposits in the current interest rate environment, I am very proud of these results.

    Net interest margin for the quarter was 3.81%, down 29 basis points, or 7.1%, from the previous quarter, but still well above industry averages.

    Our Wealth Management divisions continued their strong performance in Q3. Trust and Advisory income rose approximately $521 thousand, or 20.1% to $3.1 million, as compared to $2.6 million during Q3 2023. While a portion of this is attributable to asset growth from favorable market performance, gathering new AUM has become a bank wide area of focus. Bank clients seeking higher returns on their idle deposits are introduced to our HVIA asset management staff, who have competitive alternatives, financial market insight, and can provide tailored investment solutions for their overall cash strategies. This has enabled us to retain those funds, attract new AUM from outside and keep client assets in-house for easy access as business and personal needs evolve over time.

    As frustrating as aspects of this quarter have been, overall performance of the Bank and our employees has been exemplary.   We recognize success in our industry isn’t judged by quarters, but by years, with our 132-year history serving as testimony to the commitment of our employees and consistency of our performance over time. This perspective has been critical to our success and is why our staff and clients have remained close and loyal to our vision. So I once again thank our employees for their hard work and dedication, our customers for their trust and business, and our investors for their continued confidence and support.” 

    Third Quarter 2024 Financial Review

    Net Income

    Net income for the third quarter of 2024 was $3.2 million, a decrease of $5.8 million, or 64.4%, from net income of $9.0 million for the third quarter of 2023. The decrease was the result of a substantial provision for estimated credit losses as well as increased interest and non-interest expense over the same quarter last year. Net income for the nine months ended September 30, 2024 was $20.7 million, as compared to $21.4 million for the same period in 2023. The decrease similarly reflected the effect of an increase in provision for credit losses coupled with increased non-interest expense during the first nine months of 2024, as compared to the same period in 2023. The provision includes the impact of additional reserves associated with a nonaccrual loan during the current quarter.

    Net Interest Income

    For the three months ended September 30, 2024, net interest income rose $467 thousand, or 2.1%, to $23.0 million, versus $22.5 million during the same period last year. The increase was driven primarily by a $1.7 million increase in interest and fees on loans during the current period. For the nine months ended September 30, 2024, net interest income reached $68.7 million, representing an increase of $2.4 million, or 3.7%, over the first nine months of 2023.

    Total interest income rose $1.3 million, or 4.4%, to $31.4 million for the three months ended September 30, 2024, compared to $30.1 million for the three months ended September 30, 2023. The increase reflected 6.9% growth in interest and fees associated with loans, a 1.6% increase in interest income from tax-exempt investment securities, and an 8.2% increase in interest income related to fed funds interest and balances held at correspondent banks. For the nine months ended September 30, 2024, total interest income rose $8.8 million, or 10.2%, to $95.0 million as compared to $86.2 million for the nine months ended September 30, 2023.

    Total interest expense increased $870 thousand during the third quarter of 2024, to $8.5 million, as compared to $7.6 million in the third quarter of 2023. The increase represented the combined effect of rising interest rates on customer deposits and brokered deposits partially offset by a decrease in the cost associated with borrowed funds utilized as alternate sources of funding. Interest expense associated with savings and NOW accounts totaled $5.4 million during the third quarter of 2024, as compared to $3.5 million during the third quarter of 2023. Interest expense associated with FHLB advances drawn and other borrowings during the current quarter totaled $1.6 million, as compared to $1.9 million during the third quarter of 2023. During the nine months ended September 30, 2024, total interest expense rose $6.4 million, to $26.3 million, as compared to $20.0 million for the same period last year.

    Provision for Credit Losses

    As of January 1, 2023, the Company adopted the current expected credit losses methodology (“CECL”) accounting standard, which includes loans individually evaluated, as well as loans evaluated on a pooled basis to assess the adequacy of the allowance for credit losses. The Bank seeks to estimate lifetime losses in its loan and investment portfolio by using expected discounted cash flows and supplemental qualitative considerations, including relevant economic considerations, portfolio concentrations, and other external factors, as well as evaluating investment securities held by the Bank.

    The Company recognized a provision for credit losses of $7.2 million for the three months ended September 30, 2024, as compared to $837 thousand for the three months ended September 30, 2023. This increase was primarily driven by a $5.6 million reserve associated with a specific non-accrual commercial loan as well as the impact of the methodology associated with estimated lifetime losses and the increase in loans closed during the quarter. The allowance for credit losses to total loans was 1.73% as of September 30, 2024 versus 1.44% as of December 31, 2023. For the nine months ended September 30, 2024, the provision for credit losses totaled $7.8 million as compared to $7.4 million for the nine months ended September 30, 2023. No reserves for investment securities were recorded during 2024.

    Non-Interest Income

    Non-interest income rose $954 thousand, or 29.6%, to $4.2 million for the three months ended September 30, 2024, as compared to $3.2 million for the three months ended September 30, 2023. This growth was related to continued increased fee income within several of the Company’s fee income categories, including investment advisory income, trust income, and service charges on deposit accounts. For the nine months ended September 30, 2024, non-interest income increased approximately $2.0 million, to $11.7 million, as compared to $9.7 million for the nine months ended September 30, 2023.

    Non-Interest Expense

    Non-interest expense was $16.0 million for the third quarter of 2024, reflecting an increase of $2.4 million, or 17.3%, as compared to $13.6 million for the same period in 2023. The increase in non-interest expense for the current three-month period reflected the Company’s continued commitment to growth. This investment consists primarily of increases in compensation, information technology, and deposit insurance costs, as well as professional fees associated with certain corporate initiatives. Our efficiency ratio increased to 58.8% for the three months ended September 30, 2024, from 52.8% for the same period in 2023. For the nine months ended September 30, 2024, our efficiency ratio increased to 58.2% from 55.4% for the same period in 2023. Non-interest expense for the nine months ended September 30, 2024 reached $46.7 million, reflecting a $4.7 million increase over non-interest expense of $42.1 million for the nine months ended September 30, 2023.

    Income Tax Expense

    Provision for income taxes for the three months ended September 30, 2024 was $788 thousand, as compared to $2.3 million for the same period in 2023. The decrease was directly related to lower income before income taxes. For the nine months ended September 30, 2024, the provision for income taxes was $5.1 million, approximately the same as for the nine months ended September 30, 2023. Our effective tax rate for the three-month period ended September 30, 2024 was 19.7%, as compared to 20.0% for the same period in 2023. Our effective tax rate for the nine-month period ended September 30, 2024 was 19.9%, as compared to 19.3% for the same period in 2023.

    Financial Condition

    Total consolidated assets increased $33.6 million, or 1.4%, to remain relatively level at $2.5 billion at September 30, 2024 and December 31, 2023. The stability of the balance sheet included loan growth and continued increases in deposits and cash as well as paydowns of borrowings during the current nine-month period.

    Total cash and due from banks increased from $147.4 million at December 31, 2023, to $160.9 million at September 30, 2024, an increase of approximately $13.5 million, or 9.2%. This increase resulted primarily from increases in deposit balances and slower loan growth which increased cash levels while reducing short-term borrowings.

    Total investment securities decreased $26.7 million, or 5.3%, from $504.5 million at December 31, 2023 to $477.8 million at September 30, 2024. The decrease continues to be driven primarily by investment maturities during the first nine months of 2024.

    Total loans increased $49.0 million, or 2.8%, from $1.7 billion at December 31, 2023 to $1.8 billion at September 30, 2024. The increase was primarily driven by an increase of $75.2 million related to commercial real estate loans as well as a $4.7 million increase in consumer loans offset by decreases in all other loan categories during 2024.

    Total deposits increased $101.3 million, to $2.1 billion at September 30, 2024, from $2.0 billion at December 31, 2023. This increase was due primarily to $122.1 million of growth in money market accounts, $37.4 million increase in interest bearing demand accounts, and $30.1 million increase in savings accounts. The increases in deposit accounts were offset by an $8.8 million decrease in noninterest-bearing demand accounts and a $79.6 million decrease in certificates of deposit, mainly associated with brokered deposits utilized by the Bank for short term funding purposes. Deposit composition at September 30, 2024 included 48.3% in demand deposit accounts (including NOW accounts) as a percentage of total deposits. Uninsured deposits, net of fully collateralized municipal relationships, remain stable and represent approximately 39% of total deposits at September 30, 2024, as compared to 37% of total deposits at December 31, 2023.

    FHLBNY short-term borrowings decreased by $142.5 million, or 63.5%, to $82 million as of September 30, 2024, as compared to $224.5 million at December 31, 2023. The decrease in borrowings was driven by increased deposits which outpaced loan growth during the first nine months of 2024 and allowed for paydowns of borrowings while maintaining adequate levels of cash at September 30, 2024. The decrease in borrowings reflects a strategic decision to actively manage liquidity sources and take advantage of opportunities to reduce funding costs.

    Stockholders’ equity increased approximately $27.7 million during the first nine months of 2024, reaching $193.1 million at September 30, 2024 from $165.4 million at December 31, 2023. The increase was due primarily to $20.7 million of net income during the first nine months of 2024, partially reduced by dividends and favorably impacted by a reduction of unrealized losses of approximately $9.7 million, net of taxes, on the market value of investment securities within the Company’s equity as accumulated other comprehensive income (loss).

    At September 30, 2024, the Bank maintained capital ratios in excess of regulatory standards for well capitalized institutions. The Bank’s Tier 1 capital to average assets ratio was 10.06%, both common equity and Tier 1 capital to risk weighted assets were 13.64%, and total capital to risk weighted assets was 14.89%.  

    Wealth Management

    At September 30, 2024, our Wealth Management Division, which includes trust and investment advisory, totaled $1.8 billion in assets under management or advisory, as compared to $1.6 billion at December 31, 2023, a 13.4% increase. Trust and investment advisory income for the quarter ended September 30, 2024 reached $3.1 million and represented an increase of 20.0%, or $521 thousand, as compared to $2.6 million for the quarter ended September 30, 2023.

    The breakdown of trust and investment advisory assets as of September 30, 2024 and December 31, 2023, respectively, is as follows:

    ORANGE COUNTY BANCORP, INC.
    SUMMARY OF AUM/AUA
    (UNAUDITED)
    (Dollar Amounts in thousands)
      At September 30, 2024   At December 31, 2023
      Amount   Percent   Amount   Percent
    Investment Assets Under Management & Advisory $ 1,107,182   61.78 %   $ 909,384   57.56 %
    Trust Asset Under Administration & Management   684,937   38.22 %     670,515   42.44 %
    Total $ 1,792,119   100.00 %   $ 1,579,899   100.00 %
                   

    Loan Quality

    At September 30, 2024, the Bank had total non-performing loans of $11.2 million, or 0.62% of total loans. Total non-accrual loans represented approximately $10.9 million of loans as of September 30, 2024, compared to $4.4 million at December 31, 2023. The increase in non-accrual loans was primarily the result of one $10.7 million commercial real estate participation which remains non-performing and in non-accrual status at quarter end.

    On October 25, 2024, the Bank filed a civil complaint in the United States District Court for the District of New Jersey against the lead lender, Valley National Bank, of the non-performing commercial real estate loan participation noted above. This action cites breach of contract and other claims related to the participation agreement with the lead lender. The lawsuit requests damages and demands repurchase by the lead lender of the participated loan amount in accordance with the rights available under the terms of the participation agreement.

    Liquidity

    Management believes the Bank has the necessary liquidity to meet normal business needs. The Bank uses a variety of resources to manage its liquidity position. These include short term investments, cash from lending and investing activities, core-deposit growth, and non-core funding sources, such as time deposits exceeding $250,000, brokered deposits, FHLBNY advances, and other borrowings. As of September 30, 2024, the Bank’s cash and due from banks totaled $160.9 million. The Bank maintains an investment portfolio of securities available for sale, comprised mainly of US Government agency and treasury securities, Small Business Administration loan pools, mortgage-backed securities, and municipal bonds. Although the portfolio generates interest income for the Bank, it also serves as an available source of liquidity and funding. As of September 30, 2024, the Bank’s investment in securities available for sale was $477.8 million, of which $24.2 million was not pledged as collateral and additional $45.5 million with the Federal Reserve which is not specifically designated to any borrowings. Additionally, as of September 30, 2024, the Bank’s overnight advance line capacity at the Federal Home Loan Bank of New York was $577.6 million, of which $76.0 million was used to collateralize municipal deposits and $10.0 million was utilized for long term advances. As of September 30, 2024, the Bank’s unused borrowing capacity at the FHLBNY was $491.6 million. The Bank also maintains additional borrowing capacity of $20 million with other correspondent banks. Additional funding is available to the Bank through the discount window lending by the Federal Reserve.   At September 30, 2024, the Bank was utilizing $50 million of funding through the Bank Term Funding Program from the Federal Reserve under a one-year facility.

    The Bank also considers brokered deposits an element of its deposit strategy. As of September 30, 2024, the Bank had brokered deposit arrangements with various terms totaling $107.3 million.

    Non-GAAP Financial Measure Reconciliations      
    The following table reconciles, as of the dates set forth below, stockholders’ equity (on a GAAP basis) to tangible equity and total assets (on a GAAP basis) to tangible assets and calculates our tangible book value per share.
           
      September 30, 2024   December 31, 2023
      (Dollars in thousands except for share data)
    Tangible Common Equity:      
    Total stockholders’ equity $ 193,094     $ 165,376  
    Adjustments:      
    Goodwill   (5,359 )     (5,359 )
    Other intangible assets   (892 )     (1,107 )
    Tangible common equity $ 186,843     $ 158,910  
    Common shares outstanding   5,674,126       5,651,311  
    Book value per common share $ 34.03     $ 29.26  
    Tangible book value per common share $ 32.93     $ 28.12  
           
    Tangible Assets      
    Total assets $ 2,519,099     $ 2,485,468  
    Adjustments:      
    Goodwill   (5,359 )     (5,359 )
    Other intangible assets   (892 )     (1,107 )
    Tangible assets $ 2,512,848     $ 2,479,002  
    Tangible common equity to tangible assets   7.44 %     6.41 %
           

    About Orange County Bancorp, Inc

    Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through innovation and an unwavering commitment to its community and business clientele to approximately $2.5 billion in total assets. Hudson Valley Investment Advisors, Inc. is a Registered Investment Advisor in Goshen, NY. It was founded in 1996 and acquired by the Company in 2012.

    Forward Looking Statements

    Certain statements contained herein are “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward looking terminology, such as “may,” “will,” “believe,” “expect,” “estimate,” “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Forward looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the real estate and economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, inflation, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, increased levels of loan delinquencies, problem assets and foreclosures, credit risk management, asset-liability management, cybersecurity risks, geopolitical conflicts, public health issues, the financial and securities markets and the availability of and costs associated with sources of liquidity.

    The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    For further information:
    Michael Lesler
    EVP & Chief Financial Officer
    mlesler@orangebanktrust.com
    Phone: (845) 341-5111

    ORANGE COUNTY BANCORP, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CONDITION
    (UNAUDITED)
      (Dollar Amounts in thousands except per share data)
               
          September 30, 2024   December 31, 2023
               
        ASSETS      
               
    Cash and due from banks $ 160,872     $ 147,383  
    Investment securities – available-for-sale   469,532       489,948  
    (Amortized cost $529,161 at September 30, 2024 and $560,994 at December 31, 2023)    
    Restricted investment in bank stocks   8,267       14,525  
    Loans   1,796,094       1,747,062  
    Allowance for credit losses   (31,023 )     (25,182 )
      Loans, net   1,765,071       1,721,880  
               
    Premises and equipment, net   15,624       16,160  
    Accrued interest receivable   10,007       5,934  
    Bank owned life insurance   41,993       41,447  
    Goodwill   5,359       5,359  
    Intangible assets   892       1,107  
    Other assets   41,482       41,725  
               
        TOTAL ASSETS $ 2,519,099     $ 2,485,468  
               
        LIABILITIES AND STOCKHOLDERS’ EQUITY      
               
    Deposits:      
      Noninterest bearing $ 690,419     $ 699,203  
      Interest bearing   1,449,604       1,339,546  
        Total deposits   2,140,023       2,038,749  
               
    FHLB advances, short term   82,000       224,500  
    FHLB advances, long term   10,000       10,000  
    BTFP borrowing   50,000       –  
    Subordinated notes, net of issuance costs   19,573       19,520  
    Accrued expenses and other liabilities   24,409       27,323  
               
        TOTAL LIABILITIES   2,326,005       2,320,092  
               
        STOCKHOLDERS’ EQUITY      
               
    Common stock, $0.50 par value; 15,000,000 shares authorized;      
      5,683,304 issued; 5,674,126 and 5,651,311 outstanding,      
      at September 30, 2024 and December 31, 2023, respectively   2,842       2,842  
    Surplus   120,874       120,392  
    Retained Earnings   124,174       107,361  
    Accumulated other comprehensive income (loss), net of taxes   (54,386 )     (64,108 )
    Treasury stock, at cost; 9,178 and 31,993 shares at September 30,      
      2024 and December 31, 2023, respectively   (410 )     (1,111 )
        TOTAL STOCKHOLDERS’ EQUITY   193,094       165,376  
               
        TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,519,099     $ 2,485,468  
               
    ORANGE COUNTY BANCORP, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (UNAUDITED)
    (Dollar Amounts in thousands except per share data)
          For Three Months Ended September 30,   Nine Months Ended September 30,
          2024   2023   2024   2023
    INTEREST INCOME              
      Interest and fees on loans $ 26,375   $ 24,682   $ 78,767   $ 70,398
      Interest on investment securities:              
        Taxable   2,645     3,150     8,976     9,570
        Tax exempt   573     564     1,722     1,721
      Interest on Federal funds sold and other   1,843     1,703     5,556     4,514
                       
        TOTAL INTEREST INCOME   31,436     30,099     95,021     86,203
                       
    INTEREST EXPENSE              
      Savings and NOW accounts   5,432     3,506     15,167     9,081
      Time deposits   1,213     1,954     5,741     3,893
      FHLB advances and borrowings   1,593     1,907     4,734     6,295
      Note payable   –     –     –     –
      Subordinated notes   230     231     691     692
        TOTAL INTEREST EXPENSE   8,468     7,598     26,333     19,961
                       
        NET INTEREST INCOME   22,968     22,501     68,688     66,242
                       
    Provision for credit losses   7,191     837     7,761     7,406
        NET INTEREST INCOME AFTER              
        PROVISION FOR CREDIT LOSSES   15,777     21,664     60,927     58,836
                       
    NONINTEREST INCOME              
      Service charges on deposit accounts   270     210     737     588
      Trust income   1,379     1,266     4,000     3,707
      Investment advisory income   1,741     1,333     4,966     3,819
      Investment securities gains(losses)   –     –     –     107
      Earnings on bank owned life insurance   39     243     551     725
      Other   745     168     1,413     730
        TOTAL NONINTEREST INCOME   4,174     3,220     11,667     9,676
                       
    NONINTEREST EXPENSE              
      Salaries   6,687     6,135     20,298     18,606
      Employee benefits   2,269     1,752     6,695     5,359
      Occupancy expense   1,222     1,180     3,547     3,614
      Professional fees   1,557     799     4,330     3,512
      Directors’ fees and expenses   584     295     781     682
      Computer software expense   1,526     1,233     4,191     3,714
      FDIC assessment   210     463     978     1,023
      Advertising expenses   364     364     1,166     1,074
      Advisor expenses related to trust income   30     30     95     89
      Telephone expenses   190     184     565     534
      Intangible amortization   71     71     214     214
      Other   1,237     1,084     3,884     3,644
        TOTAL NONINTEREST EXPENSE   15,947     13,590     46,744     42,065
                       
      Income before income taxes   4,004     11,294     25,850     26,447
                       
    Provision for income taxes   788     2,256     5,131     5,093
        NET INCOME $ 3,216   $ 9,038   $ 20,719   $ 21,354
                       
    Basic and diluted earnings per share $ 0.57   $ 1.61   $ 3.67   $ 3.79
                       
    Weighted average shares outstanding   5,653,904     5,629,642     5,643,591     5,628,036
                       
    ORANGE COUNTY BANCORP, INC.
    NET INTEREST MARGIN ANALYSIS
    (UNAUDITED)
    (Dollar Amounts in thousands)
                           
      Three Months Ended September 30,
      2024   2023
      Average Balance   Interest   Average Rate   Average Balance   Interest   Average Rate
    Assets:                      
    Loans Receivable (net of PPP) $ 1,759,989     $ 26,372     5.94 %   $ 1,697,745     $ 24,677   5.77 %
    PPP Loans   186       3     6.40 %     996       5   1.99 %
    Investment securities   463,347       3,252     2.78 %     495,803       3,466   2.77 %
    Due from banks   160,563       1,843     4.55 %     154,335       1,703   4.38 %
    Other   7,601       (34 )   -1.77 %     10,299       248   9.55 %
    Total interest earning assets   2,391,686       31,436     5.21 %     2,359,178       30,099   5.06 %
    Non-interest earning assets   94,476               96,894          
    Total assets $ 2,486,162             $ 2,456,072          
                           
    Liabilities and equity:                      
    Interest-bearing demand accounts $ 370,442     $ 425     0.46 %   $ 334,658     $ 332   0.39 %
    Money market accounts   695,516       4,083     2.33 %     632,300       2,551   1.60 %
    Savings accounts   256,934       924     1.43 %     242,627       623   1.02 %
    Certificates of deposit   116,817       1,213     4.12 %     176,369       1,954   4.40 %
    Total interest-bearing deposits   1,439,709       6,645     1.83 %     1,385,954       5,460   1.56 %
    FHLB Advances and other borrowings   127,197       1,593     4.97 %     140,560       1,907   5.38 %
    Subordinated notes   19,561       230     4.66 %     19,490       231   4.70 %
    Total interest bearing liabilities   1,586,467       8,468     2.12 %     1,546,004       7,598   1.95 %
    Non-interest bearing demand accounts   688,138               736,313          
    Other non-interest bearing liabilities   25,947               23,279          
    Total liabilities   2,300,552               2,305,596          
    Total shareholders’ equity   185,610               150,476          
    Total liabilities and shareholders’ equity $ 2,486,162             $ 2,456,072          
                           
    Net interest income     $ 22,968             $ 22,501    
    Interest rate spread 1         3.10 %           3.11 %
    Net interest margin 2         3.81 %           3.78 %
    Average interest earning assets to interest-bearing liabilities   150.8 %             152.6 %        
                           
    Notes:                      
    1 The Interest rate spread is the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities
    2 Net interest margin is the annualized net interest income divided by average interest-earning assets          
                           
    ORANGE COUNTY BANCORP, INC.
    NET INTEREST MARGIN ANALYSIS
    (UNAUDITED)
    (Dollar Amounts in thousands)
                           
      Nine Months Ended September 30,
      2024   2023
      Average Balance   Interest   Average Rate   Average Balance   Interest   Average Rate
    Assets:                      
    Loans Receivable (net of PPP) $ 1,742,193     $ 78,761   6.02 %   $ 1,668,967     $ 70,374   5.64 %
    PPP Loans   197       6   4.06 %     1,440       24   2.23 %
    Investment securities   470,701       10,048   2.84 %     514,011       10,575   2.75 %
    Due from banks   156,899       5,556   4.72 %     139,539       4,514   4.33 %
    Other   7,945       650   10.90 %     11,268       716   8.50 %
    Total interest earning assets   2,377,935       95,021   5.32 %     2,335,225       86,203   4.94 %
    Non-interest earning assets   96,047               95,597          
    Total assets $ 2,473,982             $ 2,430,822          
                           
    Liabilities and equity:                      
    Interest-bearing demand accounts $ 375,124     $ 1,348   0.48 %   $ 336,801     $ 875   0.35 %
    Money market accounts   660,795       11,233   2.26 %     623,039       6,471   1.39 %
    Savings accounts   249,013       2,586   1.38 %     251,588       1,735   0.92 %
    Certificates of deposit   170,079       5,741   4.50 %     147,750       3,893   3.52 %
    Total interest-bearing deposits   1,455,011       20,908   1.91 %     1,359,178       12,974   1.28 %
    FHLB Advances and other borrowings   123,880       4,734   5.09 %     164,434       6,295   5.12 %
    Subordinated notes   19,544       691   4.71 %     19,472       692   4.75 %
    Total interest bearing liabilities   1,598,435       26,333   2.19 %     1,543,084       19,961   1.73 %
    Non-interest bearing demand accounts   674,727               717,067          
    Other non-interest bearing liabilities   26,701               22,988          
    Total liabilities   2,299,863               2,283,139          
    Total shareholders’ equity   174,119               147,683          
    Total liabilities and shareholders’ equity $ 2,473,982             $ 2,430,822          
                           
    Net interest income     $ 68,688           $ 66,242    
    Interest rate spread 1         3.13 %           3.21 %
    Net interest margin 2         3.85 %           3.79 %
    Average interest earning assets to interest-bearing liabilities   148.8 %             151.3 %        
                           
    Notes:                      
    1 The Interest rate spread is the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities
    2  Net interest margin is the annualized net interest income divided by average interest-earning assets          
                           
    ORANGE COUNTY BANCORP, INC.
    SELECTED RATIOS AND OTHER DATA
    (UNAUDITED)
     
      Three Months Ended September 30,   Nine Months Ended September 30,
      2024   2023   2024   2023
    Performance Ratios:              
    Return on average assets (1) 0.52 %   1.47 %   1.12 %   1.17 %
    Return on average equity (1) 6.93 %   24.03 %   15.87 %   19.28 %
    Interest rate spread (2) 3.10 %   3.11 %   3.13 %   3.21 %
    Net interest margin (3) 3.81 %   3.78 %   3.85 %   3.79 %
    Dividend payout ratio (4) 40.44 %   14.33 %   18.79 %   18.18 %
    Non-interest income to average total assets 0.67 %   0.52 %   0.63 %   0.53 %
    Non-interest expenses to average total assets 2.57 %   2.21 %   2.52 %   2.31 %
    Average interest-earning assets to average interest-bearing liabilities 150.76 %   152.60 %   148.77 %   151.33 %
                   
      At   At        
      September 30, 2024   December 31, 2023        
    Asset Quality Ratios:              
    Non-performing assets to total assets 0.44 %   0.18 %        
    Non-performing loans to total loans 0.62 %   0.25 %        
    Allowance for credit losses to non-performing loans 277.76 %   568.83 %        
    Allowance for credit losses to total loans 1.73 %   1.44 %        
                   
    Capital Ratios (5):              
    Total capital (to risk-weighted assets) 14.89 %   14.16 %        
    Tier 1 capital (to risk-weighted assets) 13.64 %   12.91 %        
    Common equity tier 1 capital (to risk-weighted assets) 13.64 %   12.91 %        
    Tier 1 capital (to average assets) 10.06 %   9.42 %        
                   
    Notes:              
    (1) Annualized for the three and nine month periods ended September 30, 2024 and 2023, respectively.
    (2) Represents the difference between the weighted-average yield on interest-earning assets and the weighted-average cost of interest-bearing liabilities for the periods.
    (3) The net interest margin represents net interest income as a percent of average interest-earning assets for the periods.
    (4) The dividend payout ratio represents dividends paid per share divided by net income per share.
    (5) Ratios are for the Bank only.
                   
    ORANGE COUNTY BANCORP, INC.
    SELECTED OPERATING DATA
    (UNAUDITED)
    (Dollar Amounts in thousands except per share data)
      Three Months Ended September 30,   Nine Months Ended September 30,
      2024   2023   2024   2023
    Interest income $ 31,436   $ 30,099   $ 95,021   $ 86,203
    Interest expense   8,468     7,598     26,333     19,961
    Net interest income   22,968     22,501     68,688     66,242
    Provision for credit losses   7,191     837     7,761     7,406
    Net interest income after provision for credit losses   15,777     21,664     60,927     58,836
    Noninterest income   4,174     3,220     11,667     9,676
    Noninterest expenses   15,947     13,590     46,744     42,065
    Income before income taxes   4,004     11,294     25,850     26,447
    Provision for income taxes   788     2,256     5,131     5,093
    Net income $ 3,216   $ 9,038   $ 20,719   $ 21,354
                   
    Basic and diluted earnings per share $ 0.57   $ 1.61   $ 3.67   $ 3.79
    Weighted average common shares outstanding   5,653,904     5,629,642     5,643,591     5,628,036
                   
      At   At        
      September 30, 2024   December 31, 2023        
    Book value per share $ 34.03   $ 29.26        
    Net tangible book value per share (1) $ 32.93   $ 28.12        
    Outstanding common shares   5,674,126     5,651,311        
                   
    Notes:              
    (1)      Net tangible book value represents the amount of total tangible assets reduced by our total liabilities. Tangible assets are calculated by reducing total assets, as defined by GAAP, by $5,359 in goodwill and $892, and $1,107 in other intangible assets for September 30, 2024 and December 31, 2023, respectively.
                   
    ORANGE COUNTY BANCORP, INC.
    LOAN COMPOSITION
    (UNAUDITED)
    (Dollar Amounts in thousands)
      At September 30, 2024   At December 31, 2023
      Amount   Percent   Amount   Percent
    Commercial and industrial (a) $ 251,484   14.00 %   $ 273,562   15.66 %
    Commercial real estate   1,334,580   74.30 %     1,259,356   72.08 %
    Commercial real estate construction   78,227   4.36 %     85,725   4.91 %
    Residential real estate   74,462   4.15 %     78,321   4.48 %
    Home equity   16,064   0.89 %     13,546   0.78 %
    Consumer   41,277   2.30 %     36,552   2.09 %
    Total loans   1,796,094   100.00 %     1,747,062   100.00 %
    Allowance for loan losses   31,023         25,182    
    Total loans, net $ 1,765,071       $ 1,721,880    
                   
    (a) – Includes PPP loans of: $ 181       $ 215    
                   
    ORANGE COUNTY BANCORP, INC.
    DEPOSITS BY ACCOUNT TYPE
    (UNAUDITED)
    (Dollar Amounts in thousands)
      At September 30, 2024   At December 31, 2023
      Amount   Percent   Average Rate   Amount   Percent   Average Rate
    Noninterest-bearing demand accounts $ 690,419   32.26 %   0.00 %   $ 699,203   34.30 %   0.00 %
    Interest bearing demand accounts   342,306   16.00 %   0.49 %     304,892   14.95 %   0.49 %
    Money market accounts   707,065   33.04 %   2.27 %     584,976   28.69 %   2.04 %
    Savings accounts   258,302   12.07 %   1.39 %     228,161   11.19 %   1.19 %
    Certificates of Deposit   141,931   6.63 %   4.06 %     221,517   10.87 %   4.57 %
    Total $ 2,140,023   100.00 %   1.27 %   $ 2,038,749   100.00 %   1.29 %
                           
    ORANGE COUNTY BANCORP, INC.
    NON-PERFORMING ASSETS
    (UNAUDITED)
      (Dollar Amounts in thousands)
           
      September 30, 2024   December 31, 2023
           
    Non-accrual loans:      
    Commercial and industrial $ 199     $ 556  
    Commercial real estate   10,725       2,692  
    Commercial real estate construction   –       –  
    Residential real estate   8       1,179  
    Home equity   –       –  
    Consumer   –       –  
    Total non-accrual loans   10,932       4,427  
    Accruing loans 90 days or more past due:      
    Commercial and industrial   237       –  
    Commercial real estate   –       –  
    Commercial real estate construction   –       –  
    Residential real estate   –       –  
    Home equity   –       –  
    Consumer   –       –  
    Total loans 90 days or more past due   237       –  
    Total non-performing loans   11,169       4,427  
    Other real estate owned   –       –  
    Other non-performing assets   –       –  
    Total non-performing assets $ 11,169     $ 4,427  
           
    Ratios:      
    Total non-performing loans to total loans   0.62 %     0.25 %
    Total non-performing loans to total assets   0.44 %     0.18 %
    Total non-performing assets to total assets   0.44 %     0.18 %
           
    Notes:      
    1 – Includes non-accruing TDRs: $ –     $ 2,391  
           

    The MIL Network –

  • MIL-OSI USA: Wyden, Merkley, Blumenauer, Hoyle: State of Oregon & Four Tribes Earn More Than $12 Million in Federal Funds for Grid Resilience

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)
    October 30, 2024
    Tribes with Oregon presence to receive federal investments are the Confederated Tribes of the Warm Springs, Cow Creek Band of Umpqua Tribe of Indians, Burns Paiute and Nez Perce
    Washington, D.C. – U.S. Sens. Ron Wyden and Jeff Merkley as well as U.S. Reps. Earl Blumenauer and Val Hoyle today announced that Oregon’s Energy Department has secured $10.9 million and four Tribes with members in Oregon have earned a combined $1.16 million in federal investment to modernize the electric grid and reduce the impacts of extreme weather while also ensuring power sector reliability.
    The four Tribes securing the federal funds are the Confederated Tribes of the Warm Springs, Cow Creek Band of Umpqua Tribe of Indians, Burns Paiute and Nez Perce.
    “Oregon families, small businesses, schools, hospitals and more rely on a dependable energy grid, said Wyden, who also has introduced the Grid Resilience Improvement through Dedicated (GRID) Assistance Act. “These fresh federal investments in grid resilience are incredibly timely after this year’s state record of nearly 2 million acres burned by wildfires. I’m gratified these resources are heading to these Tribes along with the state Energy Department, and will keep battling for similar funds for communities throughout the state.”
    “As devastating wildfires, droughts, and intense winter storms continue to grip Oregon, we must invest in strengthening our power grids to safeguard Oregon families and businesses,” Merkley said. “It is great news that these federal funds from the Bipartisan Infrastructure Law are heading to the Oregon Department of Energy and Tribes to make these critical improvements that will make all the difference for communities across Oregon when disasters strike.”
    “Our communities need an electric grid that can withstand the increasingly severe impacts of the climate crisis. Thanks to Democrats in Congress, Oregon and Tribal nations are receiving the investments necessary build this reality with a smarter, more resilient power grid,” said Blumenauer.
    “As this season’s record-breaking wildfire season showed, extreme weather, caused by the climate crisis, is becoming increasingly common across Oregon,” Hoyle said. “These funds will help to fortify our energy infrastructure against extreme weather and improve its dependability across the state and in Tribal communities. I’ll continue working with federal and state partners to ensure Oregon’s electric grid is safe and resilient.”
    The federal money for the state Energy Department and four Tribes is part of a combined total of $473.6 million nationally in fiscal year 2024 Grid Resilience State and Tribal Formula Grants from the U.S. Department of Energy. The resources will be distributed as follows:
    ·       Oregon Department of Energy, $10.9 million 
    ·       Confederated Tribes of the Warm Springs, $454,958
    ·       Nez Perce Tribe, $290,877
    ·       Cow Creek Band of Umpqua Tribes of Indians, $268,172
    ·       Burns Paiute Tribe, $148,901
    “The Confederated Tribes of the Warm Springs is thankful for the federal government’s financial investment in our ability to protect our communities from extreme weather situations,” said Jonathan W. Smith, Sr., Chairman, Tribal Council for the Confederated Tribes of the Warm Springs Reservation of Oregon. “These funds will allow us to develop community resilience centers on our reservation for our tribal members to seek refuge during unbearably hot and cold weather patterns.”
    “The Burns-Paiute tribe has identified energy security and resilience as a key priority,” said Tracy Kennedy, Chair of the Burns-Paiute Tribe. “We appreciate the support from Senator Wyden and Senator Merkley in helping us get funding to achieve our goals.” 
    “For the Cow Creek Band of Umpqua Tribe of Indians, we aim to use these generous funds to improve the reliability of delivering power, water and utility services provided by our own Umpqua Indian Utility Cooperative to the many Cow Creek Umpqua Tribally-owned properties, our Tribal citizens, and our community members in Canyonville,” said Carla Keene, Chairman of the Cow Creek Band of Umpqua Tribe of Indians. “This grant allows us to exercise our sovereign rights, strengthen the resilience of our system, and put us closer to achieving one of our long-term goals of energy independence.”– 
    “The Nez Perce Tribe is committed to helping the Northwest meet its energy needs in a cleaner and smarter way that will address the impacts of current energy demands on salmon restoration,” said Shannon F. Wheeler, Chairman, Nez Perce Tribal Executive Committee. “These funds are an important component of this collaborative work with energy utilities and other stakeholders in the Northwest and we are excited that these funds will allow us to continue to do this work.”  

    MIL OSI USA News –

  • MIL-OSI USA: Kishida’s legacy: Scandals and compromise at home, global respect for security and diplomacy – AP

    Source: United States Institute of Peace

    TOKYO (AP) — Japanese Prime Minister Fumio Kishida will step down Tuesday, handing over leadership to his successor Shigeru Ishiba,…

    TOKYO (AP) — Japanese Prime Minister Fumio Kishida will step down Tuesday, handing over leadership to his successor Shigeru Ishiba, who is expected to formally take office later in the day. He says he plans to call a snap election for Oct. 27.

    Kishida’s popularity ratings were precarious during most of his three-year term due to damaging corruption scandals that eventually led him to bow out.

    At home, Kishida was seen as a leader without a vision who compromised with powerful conservative nationalists within the ruling Liberal Democratic Party to stay in power. But he has won respect outside Japan, especially from the United States, for pushing bold changes in Japanese defense and security policies and for standing tougher against Russia and China.

    Here is a lookback at Kishida’s leadership and his legacy:

    Distress at home

    After taking office in October 2021, Kishida made a number of major decisions, such as reversing Japan’s nuclear energy phase-out and pursuing a rapid military buildup. But he avoided controversial social issues related to gender and sexual diversity. As head of a smaller faction in the ruling party, his top priority appeared to be keeping a stable grip on power by avoiding clashes with members of the Liberal Democrats’ powerful conservative group, led by the late Prime Minister Shinzo Abe.

    Abe’s assassination in July 2022 and subsequent major corruption scandals linked to Abe’s faction members left constantly in damage control mode, as his support ratings tumbled. Kishida himself narrowly escaped an explosives attack during a speech at a fishing port in western Japan’s Wakayama in April, 2023.

    Investigations into Abe’s assassination led to revelations of the Liberal Democrats’ decades-long links to South Korea’s Unification Church. That was followed by a more damaging corruption scandal involving more than 80 LDP lawmakers, again mostly in Abe’s faction, involving illegal slush funds.

    Several lawmakers, their aides and accountants were indicted in that scandal.

    Kishida led internal probes and moved to reform and tighten political funding laws, but opposition lawmakers and voters viewed the measures as inadequate.

    Public outrage over the slush funds scandal has caused the LDP to lose a few local elections this year and lawmakers within the party called for a fresh face to shake off the scandals in order to win the next national election.

    Kishida ends his term as a kingmaker who could remain influential behind the scenes after he helped lift Ishiba to a come-from-behind victory in the party’s vote on Friday against staunch conservative Sanae Takaichi.

    Stronger defense

    Kishida, who long served as foreign minister under Abe, has won respect for his national security and foreign policies that significantly deepened ties with the United States and other partners such as Australia, the U.K., South Korea and the Philippines, while elevating the country’s international profile.

    In December 2022, Kishida’s government adopted a security and defense strategy involving a rapid buildup of Japan’s military power to acquire a “counter-strike” capability with long-range cruise missiles, a major break from Japan’s post-World War II self-defense-only principle.

    Kishida’s government set a five-year goal to double Japan’s military spending to nearly 2% of GDP, eventually to about 10 trillion yen ($70 billion), making it the world’s third biggest spender after the United States and China. But it’s unclear how Japan will fund that spending and balance it against other urgent needs such as coping with the country’s shrinking population.

    In December, Kishida substantially eased Japan’s weapons export rules, allowing licensing of Japanese-made PAC-3 missile interceptors to the United States and future foreign sales of fighter jets that Japan is developing with the U.K. and Italy.

    Kishida quickly joined other G7 countries in sanctioning Russia and supporting Ukraine. He has repeatedly said “Ukraine today may be East Asia tomorrow,” comparing the Russian invasion of Ukraine to China’s growing assertiveness in the Asia-Pacific region. He has worked on strengthening economic and security cooperation in the region.

    “Although Kishida’s successes on foreign affairs were overshadowed by domestic political scandals involving his Liberal Democratic Party, as well as lackluster economic growth, he oversaw increases in Japan’s reputation and popularity in the region and globally, as well as the institutionalization of related partnership gains,” Mirna Galic, a senior policy analyst at the U.S. Institute of Peace, wrote in a recent article.

    Better ties with South Korea

    One of Kishida’s diplomatic successes was Japan’s improved ties with South Korea, especially in regional security and in ties with their mutual ally, the United Sates, due to shared concerns about China and North Korea.

    Kishida, under pressure from Washington and with support from South Korean President Yoon Suk Yeol, helped mend ties between the two Asian neighbors that have suffered over Japan’s colonial-era legacy of colonialism and atrocities. Stable relations are key to the U.S.-led united front in the Pacific.

    In April, Kishida made a state visit to Washington and spoke to Congress, stressing Japan’s determination to stand by America as a global partner. In 2023, President Joe Biden invited him to a trilateral summit at Camp David with Yoon where they agreed to strengthen their trilateral security framework.

    When Kishida announced in August his plans to step down, Biden lauded Kishida’s leadership, saying he had helped take the U.S.-Japan alliance “to new heights.”

    “Guided by unflinching courage and moral clarity, Prime Minister Kishida has transformed Japan’s role in the world,” Biden said in a statement. Kishida’s “courageous leadership will be remembered on both sides of the Pacific for decades to come,” he said.

    Kishida also recently helped work out a deal with Beijing to lift a Chinese ban on imports of Japanese seafood that Beijing imposed due to Japan’s release of treated radioactive wastewater into the Pacific from its wrecked Fukushima Daiichi nuclear power plant. Tensions over China’s military activity near Japanese water and airspace persist.

    He also deepened ties with Southeast Asian countries, the Pacific Island nations as well as so-called Global South developing countries.

    G7 Hiroshima and nuclear disarmament

    Kishida represents a constituency in Hiroshima and hosting a summit of the Group of Seven wealthy nations in the city in May 2023 was a highlight of his time in office aligned with his career goal of working toward a world free of nuclear weapons.

    However, the G7 summit statement on nuclear disarmament defended the possession of nuclear weapons as a deterrence, disappointing and angering survivors of the U.S. 1945 atomic bomb attack.

    Kishida says he adheres to Japan’s principles of not developing, possessing or allowing the deployment of nuclear weapons in its territory. Ishiba, a former defense minister, has advocated deepening a discussion among regional partners about the U.S. nuclear deterrence strategy.

    “New Capitalism” never took off

    Kishida espoused a “new capitalism” economic strategy calling for more equitable distribution of national wealth, an alternative to Abe’s heavy government spending and hyper-easy monetary policy. Neither policy has managed to get flagging growth back on track.

    Kishida’s defense and childcare policies would require big spending and the wage hikes he supported failed to keep pace with price increases.

    Government moves to try to reverse Japan’s falling birth rate involved mostly childcare allowances for married couples and didn’t address the problems of the growing number of young Japanese reluctant to marry and start families due to bleak job prospects, the high cost of living and a corporate culture that is unfriendly to working mothers.

    Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Wicker Statement on Georgia’s Parliamentary Election

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker

    WASHINGTON – Following Georgia’s election results, U.S. Senator Roger Wicker, R-Miss., issued this statement:

    “This past Saturday, the people of Georgia went to the polls to exercise their democratic right to choose their next government. Instead of a dignified, transparent, and lawful process, what they got was a farce. The people of Georgia’s democratic choice was undermined by rampant violations, including intimidation, violence, vote buying, and results that diverged sharply from credible independent pre-election and exit polling as well as trends from prior elections.

    “We share Georgian President Zourabichvili’s belief that these elections were neither free nor fair and do not reflect the will of the people. Unfortunately, the Moscow-backed Georgian Dream party seems to think that alongside Russia and its authoritarian axis, they can wait out the United States and Georgia’s democratic allies. They are wrong.

    “The manipulation of this election is not only a blow to Georgia’s fragile democracy but, if allowed to stand, an end to the country’s longstanding Euro-Atlantic aspirations—and possibly its very sovereignty. This is electoral fraud, and its illegitimate result must be confronted with clarity and resolve. As long as Georgian Dream clings to power through undemocratic means and under the tutelage of violent authoritarians, they will reap the contempt and isolation they so richly deserve.”

    MIL OSI USA News –

  • MIL-Evening Report: Not the time to share: NZ needs to rethink multi-bed hospital rooms

    Source: The Conversation (Au and NZ) – By Cindy Towns, Senior Lecturer, University of Otago Wellington, University of Otago

    As New Zealand agonises over its hospitals – where they are, how they should be staffed and how they should be funded – a key element in the debate is being missed: the need for single rooms in all public hospitals.

    It’s currently normal for patients to stay in shared rooms with up to five other people. In some hospitals this includes accommodating men and women in the same room, despite serious safety and ethical concerns.

    But it shouldn’t be this way. For a number of reasons, including infection control, privacy and cost, new hospitals and renovations need to be based on single occupancy rooms.

    Our new research brings together both the clinical and ethical arguments for single rooms for all patients as the most basic standard of care.

    Infection control

    Many may view shared rooms as a cost saving. But one of the key arguments for individual rooms in hospitals is the cost and harm of infections and bacterial resistance.

    Single rooms reduce risks by eliminating exposure to shared infection sources such as touched surfaces, unfiltered air, toilets and water systems.

    They also reduce the need for room transfers within the hospital which increase the risk for infection transmission between patients.

    There is strong evidence single occupancy rooms result in reduced infections in intensive care units. And further research has also found single occupancy reduces hospital transmission of COVID-19.

    In New Zealand, single rooms are prioritised for patients known to be infectious. But the key word here is known. This policy fails to recognise that a large proportion of transmissible infections are unknown at the time of ward placement.

    However, even when infection is known, our hospitals cannot meet basic guidelines due to the lack of single rooms. Only 30% of Wellington and Hutt hospital rooms are single occupancy, for example.

    Without single occupancy as the standard in hospitals, infection control will remain compromised.

    Delirium and dementia

    Individual rooms are also required for older adults. New Zealand’s population is ageing; as a result, patients with delirium and dementia needing hospitalisation will increase.

    Delirium affects about 25% of patients in hospital and is associated with a longer stay, more complications and an increased risk for death.

    Delirium prevention and management requires a low-stimulus environment, undisrupted sleep, and control of light and noise which cannot be achieved in shared hospital rooms.

    Research has shown a reduction in delirium with single rooms.

    The behavioural and psychological symptoms of dementia also pose significant challenges in hospital. Symptoms include hallucinations, delusions, sleep disturbance, depression, inappropriate sexual behaviour and aggression.

    These can be highly distressing for the patient and those around them and – like delirium – cannot be managed to a basic standard of care within a shared room.

    Dementia prevalence will more than double by 2050. And yet New Zealand hospitals are ill-prepared to accommodate this rise in demand.

    The right to security, privacy and dignity

    Shared rooms in hospitals clearly undermine clinical care, but they also violate human and patient rights.

    One of the most fundamental human rights is “security of person”. Nobody should have to share rooms with patients who are agitated, aggressive or sexually inappropriate due to delirium or dementia.

    Unfortunately, patients frequently share with those who are unable to manage their own behaviour. While the risks to women have been highlighted, no patient should be endangered or frightened by another patient’s behaviour.

    Dignity and privacy are also a fundamental patient rights, with privacy covered by by both the Health Information Privacy Code and the Health and Disability patient Code of Rights.

    Hospital patients often need assistance with dressing, showering and toileting. Many admissions involve vomiting, diarrhoea or incontinence. And design that relies on curtains to maintain privacy renders this right farcical.

    Research and complaints clearly show patients do not believe their privacy is adequately protected in shared spaces.

    Some may argue for multi-bed rooms on the basis that some patients prefer company. However patient surveys on privacy and confidentiality are overwhelmingly in favour of single occupancy.

    Factoring in cost

    While there is an increase in up-front costs when building single rooms due to the larger hospital footprint, research has found there is no convincing economic evidence in favour of multi-bed rooms.

    The potential savings for future pandemics – in mortality, patient transfers and disease transmission – should not be underestimated. Improved management of delirium and dementia, will also decrease length of stay and cost.

    The argument for single occupancy hospital rooms on clinical, ethical and legal grounds is collectively unequivocal.

    New Zealand needs to follow international best practice and introduce single occupancy rooms as a basic standard for new hospital builds and upgrades.

    Not doing so would ignore the lessons learnt in the COVID-19 pandemic, fail to account for the needs of an ageing population and continue to render New Zealand’s code of patient rights a fairy tale.

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

    – ref. Not the time to share: NZ needs to rethink multi-bed hospital rooms – https://theconversation.com/not-the-time-to-share-nz-needs-to-rethink-multi-bed-hospital-rooms-241573

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Auction for Che Kung Festival Fair stalls to be held November 13

    Source: Hong Kong Government special administrative region

    Auction for Che Kung Festival Fair stalls to be held November 13
    Auction for Che Kung Festival Fair stalls to be held November 13
    ****************************************************************

         ​The Food and Environmental Hygiene Department (FEHD) announced today (October 30) that stalls at the 2025 Che Kung Festival (CKF) Fair will be put up for open auction on November 13 (Wednesday).           A spokesman for the FEHD said the annual CKF Fair will be held for 18 consecutive days from January 26 to February 12, 2025, at Chui Tin Street Soccer Pitch in Sha Tin. A total of 48 dry goods stalls will be put up for auction, with an upset price of $2,770.           The auction will be held at the Assembly Hall, 2/F, Lai Chi Kok Government Offices, 19 Lai Wan Road, Lai Chi Kok, Kowloon on November 13 (Wednesday), from 9.30am until completion of the auction.           Bidders for CKF Fair stalls must be at least 18 years old and ordinarily reside in Hong Kong. Anyone can bid for more than one stall. A bidder must pay the bid price and register in person with his or her own name as the licensee of the stall immediately after successfully bidding for a stall. The bidder is also required to sign at once a licence agreement with the FEHD, or he/she will forfeit the right to operate the stall.           The CKF Fair site will be made available to the licensees two days in advance of the fair (January 24 and 25, 2025) for the setting up of stalls. In the event of any unforeseeable incident that will cause a shortening of the whole licence period (including the duration for setting up stalls and the business period of the fair), the Government has the right to postpone the commencement date and shorten the duration of the period. The bidding price (licence fee) paid will be refunded to the successful bidder on a pro-rata basis without interest.           The FEHD reminded licensees that the stalls are solely for the purpose of selling and promoting the sale of the permitted commodities, and no other activities are allowed in the licensed area. If the FEHD considers that any activity conducted by the licensee to publicise, promote, display, show, sell or gift any permitted commodities in the venue is unlawful, contrary to the interest of national security, immoral or incompatible with the object of the CKF Fair, the FEHD is entitled to direct the licensee to stop conducting such activities, and the licensee must immediately comply with the direction.           Stall licensees should not destroy, damage or abandon any unsold commodities at or in the vicinity of the stall. They must completely remove the stall structure and all paraphernalia, together with all refuse, debris and unsold commodities (whether damaged or otherwise) from the licensed area before 10pm on February 12, 2025.           According to the licence agreement, licensees shall not keep, store or use any compressed helium cylinders in the licenced area. Sales of floating LED glowing balloons and aquarium fish by stall licensees are prohibited at the CKF Fair.           In addition, as stated in the licence agreement, the height of dry goods stalls must not exceed 3 metres from ground level.           Successful bidders shall comply with all the stipulations and provisions as set out in the licence agreement. Otherwise, the FEHD is entitled to terminate the agreement and the licensee shall immediately vacate the stall.           Details of the 2025 CKF Fair such as the public notice, the location and layout of the fair venue, commodities allowed for sale at the fair stalls, open auction arrangements and related rules as well as a sample of the licence agreement, are available on the FEHD website (www.fehd.gov.hk). For enquiries, please call the FEHD’s Sha Tin District Environmental Hygiene Office at 2634 0134.

     
    Ends/Wednesday, October 30, 2024Issued at HKT 14:31

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Submissions: Business – Welcoming Steve Nadin: A New Era in Functional Consulting at Brainstorm

    Source: Brainstorm

    Brainstorm is excited to welcome Steve Nadin as its Functional Consultant. With a diverse background in supply chain management and consulting, Steve brings a wealth of experience to the team.

    Steve grew up in Nottingham, England, before making the move to Australia in 1991. Family is a big part of his life—he and his ex-wife have 4 children and 11 grandchildren, with one more on the way in February 2025. Steve recently celebrated another exciting milestone, marrying his partner of 9 years, who also has 4 grown-up children and 4 grandchildren. Together, they have built a rich, blended family.

    Reflecting on this chapter of his life, Steve shares, “My family means the world to me, and it’s been a beautiful journey blending our lives together. We have a large, vibrant family, and I’m excited about welcoming our newest grandchild next year.”

    Steve’s career began at Boots the Chemists, a major UK manufacturing and pharmaceutical retailer, where he spent 14 years in various roles across Accounting, Logistics, and Supply Chain. After relocating to Australia, Steve continued to excel in operational and supply chain management roles, eventually launching his own business improvement consultancy in 2011. Unfortunately, the business was impacted by COVID-19 restrictions, leading Steve to shift gears.

    In 2021, he joined SMC as a Senior Consultant, where he helped businesses enhance their operations and navigate digital transformation. His success at SMC led to his promotion to Consulting Manager in 2023, where he played a key role in driving innovation and efficiency for a variety of clients.

    Steve first connected with Brainstorm at the CEMAT exhibition in 2024, where he was drawn to the company’s dynamic growth and future potential. “Meeting with Evelyn at the CEMAT exhibition was a turning point for me,” he explains. “Brainstorm’s vision and the direction it’s headed in really sparked my interest. It’s a company that’s truly on the rise, and I knew I wanted to be a part of that.”

    Now, as Brainstorm’s Functional Consultant, Steve is eager to contribute his wealth of experience in supply chain management and operational improvement. While his role is still evolving, he is excited about the journey ahead and looks forward to helping Brainstorm continue its impressive trajectory.

    Reflecting on Career Milestones, two standout moments in Steve’s career include developing a distribution network in the U.S. for an Australian celebrity chef and managing the setup of a large 28,000m² greenfield warehouse in Melbourne. From board approval to go-live, Steve ensured the project was delivered on time and within budget—a feat that he still looks back on with pride.

    “I’m particularly proud of the Melbourne warehouse project,” he recalls. “It was a massive undertaking, but it came together seamlessly. To see everything work out exactly as planned was incredibly rewarding.”

    Steve is looking forward to making a significant impact at Brainstorm, and the team is equally excited to have him on board.

    BrainStorm is a software company that specialises in two areas. They help distribution and manufacturing businesses get their ERP technology in order, and help scaling businesses implement and integrate their software systems.

    They do what they do because there’s too much off the shelf software that doesn’t actually solve the business problems that they’re intended to. BrainStorm has saved their customers over $150million dollars in the past year.

    MIL OSI – Submitted News –

  • MIL-OSI United Kingdom: Scottish Fish Farm Production Survey 2023

    Source: Scottish Government

    An Official Statistics Publication for Scotland

    The Scottish Government today published the Scottish Fish Farm Production Survey 2023. The publication details statistics on the employment and production from Scottish fish farms. It is structured to follow industry trends within the farmed Atlantic salmon, rainbow trout and other species sectors.

    Some key figures from this publication are:

    • In 2023, production of Atlantic salmon decreased by 18,245 tonnes (11%) to 150,949 tonnes.
    • The total number of smolts produced in 2023 decreased by 3.6 million (7%) to 51.5 million.
    • Production tonnage of rainbow trout increased by 6% in 2023 to 9,258 tonnes. This is the highest level of rainbow trout production recorded in Scotland.
    • Brown and sea trout production decreased to 16 tonnes in 2023.
    • In 2023, the total number of staff directly employed in salmon production was 1,480 staff, a decrease of 28 staff compared with 2022. The staffing figures refer to production of Atlantic salmon in seawater and do not include staff involved with processing or marketing activities.

    Background

    Scottish Fish Farm Production Survey 2023 – gov.scot (www.gov.scot)

    1. The survey is compiled from data collected directly from authorised fish farming businesses.
    1. Official statistics are produced by professionally independent staff – more information on the standards of official statistics in Scotland can be accessed at: Producing Official Statistics – gov.scot (www.gov.scot)

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Species Survival Fund: New four-legged friends arrive at Shire Brook Valley Rainbow Meadow in Shire Brook Valley is now home to a host of new four-legged friends as we see the arrival of Highland cows and Dexter cows. The introduction of the cows forms part of Sheffield City Council’s Species Survival Fund which aims to protect, enhance and widen areas of heathland, and it will help to manage and create areas of meadow. 30 October 2024

    Source: City of Sheffield

    Rainbow Meadow in Shire Brook Valley is now home to a host of new four-legged friends as we see the arrival of Highland cows and Dexter cows.

    The cows have been brought to the meadow to graze which will help manage the field naturally , creating open spaces for wildflowers to grow and preventing brambles from taking over the meadow.

    As well as grazing, through moving and walking around the field this will create and maintain the open spaces.  Sheffield City Council has welcomed the cows to maintain the land in a great condition, in between woodland and open grassland. 

    Locals are welcome and encouraged to come down and view the cows from the gate but should not climb the gate as there is a risk of injury from livestock. Dogs are not permitted to be in the field.

    The introduction of the cows forms part of Sheffield City Council’s Species Survival Fund which aims to protect, enhance and widen areas of heathland, and it will help to manage and create areas of meadow, benefitting species of flora such as orchids and invertebrates such as dragonflies.

    The Council’s Species Survival Fund was awarded more than £1million from The National Lottery Heritage Fund, as well as being supported by funding from partners and other organisations, totalling almost £400,000.

    These include National Grid, The Environment Agency, South Yorkshire Sustainability Centre, Sheffield Hallam University, Yorkshire Water, Friends of Richmond Park and the South Yorkshire Badger Group.

    The mix of habitats are particularly important conserve in the area for invertebrate, fungi,  birds and wildflowers – the diversity of which will fall if the site is allowed to become dominated by trees.

    Areas the project will cover:

    • Shire Brook Valley Nature Reserve
    • Beighton Marsh
    • Woodhouse Washlands
    • Wickfield Heath & Plantation
    • Richmond Park
    • Silkstone Ravine (part of Birley Spa)

    The project will improve sites covering a total area of 449.5 acres. The project will involve conservation management, woodland works to open sightlines, creation of leaky dams and new areas of wet woodland, removing 1/3 of the silt and Typha from a former mill pond, creating ditches and hedgerows, and removal of invasive species.

    Species the fund will support include mice, bats, reptiles, amphibians (including toads and newts), birds such as swifts, house martins, skylarks, barn owls and kingfishers. 

    Patrick Gray, Grazing Co-ordinator at Wild Sheffield, said:

    “We now have 18 cows on Rainbow Meadow including 17 Dexter Cows and one Highland Cow.

    “The lack of grazing over the past few years has led to the meadow being overrun with brambles and scrub. The objective of the grazing is to maintain the site as a woodland pasture, which consists of a mix of veteran trees, young trees, and open grassland.

    “This is a pilot scheme, and in the future plan to have grazing at Sally Clark Meadow across the lane, and at Linley Bank.”

    The current plan of winter grazing is to remove the build-up of vegetation on the pasture so that ideal conditions are created for spring when all the interesting and colourful wildflowers begin to germinate.

    Wild Sheffield, in partnership with Sheffield City Council, would like to set up a volunteer scheme for members of the public to assist in keeping an eye on the cows, reporting any sick or injured or escaped animals.

    If you want to find out more about how you can get involved, please email Patrick Gray from Wild Sheffield for more details p.gray@wildsheffield.com.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: BLOG: Sound Connections – How Liverpool and New York are Striking the Right Chord for Music Tourism

    Source: City of Liverpool

    Following a trade and investment mission to the United States, Liverpool’s Head of UNESCO City of Music, Kevin McManus spent some time in New York looking at ways in which to boost music tourism to Liverpool. He writes about how the trip explored how more meaningful links can be developed between the two great music cities.

    You can make a good argument that the two greatest music cities in the world are Liverpool and New York.  ( Nashville, Memphis and New Orleans may try and force themselves into the reckoning as well but let’s ignore them for now…!)

    I was fortunate enough to recently spend a couple of days in New York as part of a Liverpool City Region Combined Authority mission to the US and was keen to look at what opportunities there are to link the two cities’ music sectors to our mutual advantage.

    There are no two ways about it, New York is an amazing city with an incredible music heritage which is why almost every musician wants to play there. New York is still a hugely important centre for the music industry and I was there to see what meaningful links we could begin to develop between the two cities. Historically of course The Beatles led the British music invasion of the US in the ‘60s and the Strawberry Fields corner of Central Park is a memorial to the life of John Lennon.

    There are more recent success stories such as that of Sentric Music, the Liverpool founded music publisher which still has its HQ in our city, but has its North American base in New York. I caught up with the Sentric team who are steadily building the company’s US profile which is great advertisement for the fact that you can grow a global music business from Liverpool.

    We had a really useful, practical session with Visit Britain and we were able to talk to them about the strength of the Liverpool music brand and how we could work together to grow music tourism to the city.

    We tried to make the most of our visit by meeting with key people from the sector and a big thanks to a former colleague Vanessa Reed, now President of New Music USA, for introducing me to Shira Gans (from the New York Mayor’s Office) and Erika Elliott from Summer Stage.  

    It was a joy to meet Shira and Erika as well as catching up with Vanessa and they gave us so much food for thought as well as being receptive to developing a meaningful relationship with us. Hopefully these links will lead to opportunities for our artists and music businesses in the US.

    Of course it wasn’t all one way.

    We wanted to find out more about what was happening in New York, but at the same time we wanted the chance to share our exciting plans. We have an awful lot to be proud of at the moment in terms of our music sector and the ambition we are demonstrating through initiatives such as Accelerator City and our plans for a Music Hub and an immersive music attraction.
    Supported by the City Region Music Board Liverpool, music is going places and part of the mission is to say to music businesses in the US that if they are looking for a UK or a European base then they should look to Liverpool first.

    MIL OSI United Kingdom –