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Category: housing

  • MIL-OSI NGOs: ‘They said that I should die if I can’t stop being trans’ 

    Source: Amnesty International –

    Manun Wongmasoh, known as “Noon”, is a 26-year-old Muslim Thai transgender woman and an LGBTI activist. Raised in a religious family in Nakhon Nayok province, central Thailand, Noon was inspired to become a human rights activist to address certain interpretations of Islamic principles that she believed had been misused to discriminate against LGBTI individuals in Thailand.  

    Her advocacy and lived experiences, including the significant challenges she faced as a transgender woman in Thailand’s conservative Muslim community, were recently featured in an Amnesty International report highlighting the effects of technology-facilitated gender-based violence (TfGBV) against women and LGBTI activists in Thailand. She has been sharing her story of resilience while actively raising awareness about online harassment. 

    My father was a religious teacher and I was raised in a Muslim family. I used to practise reading the Qur’an and Islam is actually very kind to people in general. I still think it’s good that I have learned Islam and remain a practising Muslim, but I disagree with how it is commonly interpreted. 

    Many people in my religion perceive being transgender as a sin. This is why I decided to stand up for myself, for my identity. I’m transgender, and I’m also a human. God is the only one who is entitled to judge me in the afterlife. This is what I’m fighting for. 

    I started this struggle because of my family. They have hurt me the most. I can take what other people say to me but when my family talks about me behind my back, that is the most painful thing. I was kicked out of the family home when I was in high school. I found a way to support myself, but it still hurts. Because of my gender, they decided not to support me.  

    My family tried conversion therapy for me. At the time, I was still in school. They sent me to a religious school. It was the saddest time of my life. I was bullied. I received a lot of verbal abuse. It was a very tough time for me. Being trans is not like having a flu that can be treated. Religion is not the problem but the people who use it to oppress other people.  

    Since my dad passed away, my mum has started to accept who I am — but not my siblings. My siblings do not accept me. 

    I went to my grandmother’s funeral. I had just finished my breast surgery. My elder brother beat me up and kicked me. My mum couldn’t protect me. It became very difficult for her as well. And I feel deeply scared. I can only see her when no one else is at home. It’s the only time I can spend time with my mum, when other people are not around. 

    I want to create a safe zone for LGBTI people, including in the Muslim society. I’ve been affected a lot because I don’t have a comfort zone or safe space. I used to live in Thailand’s Deep South during my undergraduate studies. It’s a Malay Muslim-majority area and I have seen a lot of gender inequalities in how LGBTI people in this region faced mistreatment and discrimination. 

    When I started speaking out about safe spaces for LGBTI people in Muslim society, someone printed my photo and distributed it to certain police forces. They said they would hurt me and even kill me if they see me in person. “You’ll get to see your death before the time comes”, they told me. I filed a complaint with the police, but they couldn’t do much, they just logged a record. I have been sexually harassed as well because of how I dress. Friends from middle school attacked me through my Facebook account. The comments are so harsh. My friend from the Deep South told me they had seen my photo being posted in Muslim Facebook groups. 

    Most of them are men and super religious. Only a few women attacked me online, but it was mild, I could handle it. But the men — it was unbelievable. It was abusive.  

    Manun Wongmasoh is one of the activists featured in this video highlighting women and LGBTI activists in Thailand who have face technology-facilitated gender-based violence

    There should also be a law to protect people from online harassment. I think it will be useful to protect marginalized people, ethnic groups and LGBTI people who are more vulnerable to online abuse. That’s why I want to see this law.  

    Government agencies have not helped. We have the Gender Equality Act. When I received death threats online, I would have wanted to file a complaint, but the law has a clause that allows for using religion to justify gender-based violence. We have been left with no option to seek any remedies or justice.  

    We must talk about intersectionality and also safe spaces for LGBTI people. Online spaces are very important because it’s the easiest way to reach a lot of people and give them information. The challenge is that you cannot talk about anything online because we could face endless harassment and even death threats like I did.  

    On top of such online abuse, we have the Computer Crimes Act and national security laws that have been used to silence activists and the public for expression and online protest. Criminal defamation, too, so you can’t talk about the people who violate your rights. For example, there is a case about another LGBTI activist, who assisted a survivor of sexual assault committed by a politician. The politician filed a defamation charge against her. 

    These problems are the reasons why I work with human rights organizations. I strongly believe that everyone’s rights must be respected, and I really hope one day that all LGBTI people, including those of us in the Muslim community, can have a safe space — both offline and online.  

    MIL OSI NGO –

    February 21, 2025
  • MIL-OSI: Purpose Investments Expands Yield Shares Lineup with Seven New ETFs, Offering Enhanced Income Opportunities

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is excited to announce the addition of seven new ETFs to its industry-leading Yield Shares Suite – the world’s first yield-focused single-stock ETFs designed to provide investors with the long-term growth potential and enhanced* monthly yield from their favourite stock. Among the new additions is the Tech Innovators Yield Shares Purpose ETF (Ticker: YMAG), which brings together all the Mag7 companies along with Broadcom in a one-ticket solution. These new ETFs (described in the table below) begin trading on Cboe Canada today.

    Yield Shares ETF Ticker Underlying Company
    Costco (COST) Yield Shares Purpose ETF YCST Costco
    Palantir (PLTR) Yield Shares Purpose ETF YPLT Palantir
    UnitedHealth (UNH) Yield Shares Purpose ETF YUNH UnitedHealth Group
    Coinbase (COIN) Yield Shares Purpose ETF YCON Coinbase
    Netflix (NFLX) Yield Shares Purpose ETF YNET Netflix
    Broadcom (AVGO) Yield Shares Purpose ETF YAVG Broadcom
    Tech Innovators Yield Shares Purpose ETF YMAG Broadcom, Alphabet, Tesla, Meta, Microsoft, Amazon, Apple, and NVIDIA


    A Smarter Approach to Income and Growth

    Since launching in 2022, Purpose Yield Shares has established itself as a leading solution for investors seeking monthly income while maintaining exposure to leading global companies. These innovative ETFs generate tax-efficient, enhanced monthly distributions by investing directly in the underlying stock and employing a covered call strategy with moderate leverage – delivering a unique balance of income and growth.

    “The Yield Shares lineup is committed to giving investors access to high-quality companies with strong fundamentals and long-term growth potential. With these new ETFs, investors can tap into market leaders at the forefront of innovation and economic progress – all while earning enhanced monthly income,” said Nick Mersch, Yield Shares portfolio manager. “From technology and consumer staples to financial services and healthcare, our Yield Shares suite offers a powerful combination of income and growth, allowing investors to participate in the success of industry leaders.”

    Key Benefits

    • Monthly Income: Investors receive an enhanced monthly distribution while maintaining exposure to the growth of the underlying stock.
    • Growth Potential: Participate in the long-term growth of companies like Costco or Netflix, two powerhouse brands redefining consumer spending and media consumption.
    • Lower Volatility: A built-in options strategy helps cushion against stock price declines.
    • Tax Efficiency: The covered call strategy aims to generate tax-efficient income.

    “These new offerings are more than just investment products – they reinforce our belief that Yield Shares represent a distinct asset class, uniquely designed to help investors achieve their financial goals while complementing their existing portfolios,” said Yuan Gao, Vice President, Product. “This expansion reflects Purpose’s commitment to evolving with investor needs and navigating an ever-changing market landscape.”

    Not Your Typical Yield Shares ETF: A Bold New Offering

    The Tech Innovators Yield Shares Purpose ETF (Ticker: YMAG) offers investors a one-ticket solution for exposure to a powerhouse group of technology and innovation leaders while generating monthly income. Known as “BATMMAAN,” this elite group – Broadcom, Alphabet, Tesla, Meta, Microsoft, Amazon, Apple, and NVIDIA – represents the Nasdaq’s trillion-dollar market cap club, shaping the future of AI, cloud computing, digital services, and next-generation infrastructure.

    “The Tech Innovators Yield Shares is an exciting evolution of our suite, bringing together industry giants with a sophisticated strategy that allows investors to participate in their growth while generating enhanced, diversified income. This powerful blend of innovation and yield is designed to meet the needs of today’s investors,” said Mersch.

    To view the full suite of Yield Shares ETFs, please visit our suite page.

    About Purpose Investments

    Purpose Investments is an asset management company with over $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

    For further information, please email us at info@purposeinvest.com

    Media inquiries:
    Keera Hart
    keera.hart@kaiserpartners.com
    905-580-1257

    *Yield Shares funds provide “enhanced” or higher yields in the form of additional monthly distributions compared with the underlying common stock, which pays a relatively lower or no distribution yield.

    Commissions, trailing commissions, management fees, and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. Fund distribution levels and frequencies are not guaranteed and may vary at the Purpose Investment’s sole discretion.

    Certain statements in this document may be forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend on or refer to future events or conditions, or include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

    The MIL Network –

    February 21, 2025
  • MIL-OSI Europe: Opening remarks by Commissioner Jørgensen at the ITRE Committee Structured Dialogue

    Source: EuroStat – European Statistics

    European Commission Statement Brussels, 20 Feb 2025 Thank you Mr Chairman!
    This is the first time I am back in a big Plenary room since the hearing. Thank you for being nice to me! People ask me if I could sleep at night in the preparation phase, and I always answered, ‘yes I sleep like a baby’. I sleep for a few hours, I wake up and cry a little bit, then I sleep for a few more hours and then I wake up and cry a little bit.

    Thank you so much and thank you for the collaboration, both before and after the hearing.

    Now of course, we have started the actual work and I really cherish, both the bilateral collaboration I have with many of you, but also with the groups and with the Committee.

    I am looking forward for the exchange of views today. Obviously, it’s also a possibility for me to highlight some of the things that are coming up and that we are presenting from the Commission’s side in the weeks and months to come, just as it is an opportunity for you to ask me questions, but obviously also give me some input.

    A lot has happened since December, there is an old, I think it’s a Chinese curse, that goes ‘may you live in interesting times’. I think it’s pretty fair to say we are living in interesting times.

    I think it’s also fair to say that this is for me a very, very clear sign that we should all be happy that we have the European Union. No country, not even the biggest ones of us, have a chance of solving the challenges that we face right now alone.

    We need to really stand by each other’s shoulders and we need to work with each other closer, together. And therefore, I think it is also extremely important that we send a very clear signal to our own citizens, our own companies but also of course to the world, that in the European Union, the way that we face challenges like the ones we face right now, is not by polarising but standing together.

    This certainly also goes for the energy part of our collaboration. We  already working very closely together on this, compared to any other region of the planet, we are better interconnected and more rational and greener than any other region.

    This is obviously not to say that we don’t have many challenges, we have a lot. But I just think it’s worth reminding each other, when standing in challenging times, it’s also necessary to remember what are our strengths and to build on our strengths. And when facing challenges you have to be very careful, when you find the solutions, that you don’t undermine the position of strength that you actually have, by choosing to go in completely different directions.

    For me that means, looking at our Energy Union, we need to make that stronger.

    It really is a little bit of a paradox, when walking around this building and looking at all the historic photos, the buildings and rooms named after great personalities that helped shape the European Union, that it all started as a Coal and Steel Community. So coal, basically energy.

    Yet today, there is many other issues we are much more integrated than we are on the energy side.

    So, we have a lot of potential. I will also say that we need to do better in that part of our integration.

    Now, if we look at our electricity infrastructure and how it is connected in Europe. Again, I would find it difficult to point to any other places in the world that are doing as well as we are. But at the same time, we are not at all where we need to be and we are not even exploiting the possibilities that we have of doing better right now.

    An analogy that you could use, if you thought about our more traditional physical transport infrastructure and, let’s just take an arbitrary number, say that what we needed was 100 big highways to connect Europe and we would be perfectly connected, it’s just an arbitrary number but let’s say it’s 100. Then say, that those highways are energy, electricity, then right now we are at a stage where we have 100 highways but we need 200. What makes it even more challenging, but also gives us possibilities, is that out of the 100 we are only using 50. So out of the infrastructure that we already have, the interconnectedness and maintenance that we already have, we are only utilising a part of it. And we have a lot of potential for utilising it better. And even if we did that 100 per cent, that still would not be enough.

    So, what does that mean? It means we need to be better connected, both physically, so physical infrastructure, but also in a more regulatory sense.

    Countries need to implement better legislation that we already have, this means exploiting the possibilities of having the benefits of having neighbours that produce energy at certain times and also being solidaire, providing them the energy to them, when they don’t.

    If all countries fulfilled our obligation of the 70% transmission  target, then already there, we would be much better off that we are today.

    If we were better at exploiting the grid we have, and we can be, via digitalization and AI, and better planning and better coordination of maintenance, small things they might seem like, but they can really make a difference. Then we could avoid a lot of curtailment. In Germany alone, the curtailment every year equals the lost revenue of 4 billion euros.

    When we have the big crisis last Summer, in many of the Southern European countries because of the heat wave, one of the reasons why the crisis became so big was because there was a lot of maintenance going on and it wasn’t being coordinated. This is not to blame anybody, because there were probably good reasons why it had to happen there, but had we coordinated better, we could have avoided these things.

    So this is just to say there are actually quite a few low hanging fruits, quite a few things that can work, even in the short term. But I will also be honest with you and say there are also some fruits at the top of the tree, that we need to pick. There is also a lot of things that we need to do that are more structural, long-term decisions.

    Something that lies in between there, I would say, is our ability to move swiftly with the deployment of more renewables.

    We need to, in my opinion, take a good and hard look at our rules for permitting. Now, during the crisis we had some change in the rules that we have and emergency measures, that were also implemented and that meant that in some countries things were actually speeding up.

    But still, as a general rule, it is going way too slow and I think that is probably the message that I am getting most often from industry, from local communities, from green NGOs from people that are more concerned about prices. It’s not going fast enough.

    And this is even in a period of time when we are actually deploying more renewables faster than ever, so last year it was 78 new Gw of renewables, this is a huge number. Last year for the first time ever, we produced more electricity by solar than by coal. This is fantastic, it’s going in the right direction, it’s going fast. But not fast enough.

    This will be at the core also of the Affordable Energy Action Plan that I will be presenting, the Commission will be presenting, next week as a part of the Clean Industrial Deal.

    We will look at every issue separately, that is right now hindering  us from becoming more independent of fossil fuels and thereby also Russian energy imports, decarbonising our economy and of course first and foremost, which the title also reflects, bringing down the prices.

    Renewable energy is not something that is making our competitiveness worse as some will have you believe. I am sure probably not many in this room but sometimes outside of this room you will hear this.

    It is the opposite. From 2021 to 2023, the International Energy Agency, [IEA Executive Director] doctor Fatih Birol, has calculated that we in Europe saved 100 billion euro because of the deployment of new renewable energy.  100 billion euro that we would have bad to pay more, had we not been on the transition path that we are in.

    We are working hard to rectify where there is barriers, and the plan that I will be presenting will not be a plan with one big silver bullet that will solve all the problems. But it will be a lot of very targeted things, of course interconnected, but targeted things that we can do, that when you add them all up, will make a lot of difference both on the short term and on longer and more structural term.

    I will also say that the question of Russian energy, in my opinion, has not become smaller, I think you will agree.

    When the war escalated and Russia attacked Ukraine in 2022 we were at 45% of our gas coming from Russia. Last year we brought that down to 15%, but then the LNG imports went up, so we ended up at 19%. Now we are at approximately 13% because the transit via Ukraine ended the 1 January.  

    So on the one hand, I guess you can argue that this is a huge success of Europe. I would like you to point to any other region of the world that could that fast, fundamentally change such as important part of the energy system. It is actually a tremendous accomplishment on one hand. On the other hand, we are still importing 13% from our gas from Russia. This is billions of euros  filling up Putin’s war chest. So, we need to do more.

    Some of the things that I have already talked about, that will be a part of the Action Plan on Affordable Energy will obviously also help us in that regard. But we will need to, in my opinion, take even further steps and, therefore, next month, the Commission will propose a Roadmap for independence on Russian fuel.

    Obviously we have a lot of other things planned, but my time is already more than up, so I hope I’ll get an opportunity to speak about them in connection with your questions. They are all  interrelated obviously, so the Electrification Action Plan is also connected to the Affordable Energy Action Plan and so forth.

    On housing, which I know is also important for many in this Committee, we will be presenting the Affordable Housing Action Plan next year. The reason why I decided and we decided in the Commission to not do it before, was also to make sure that we have a process that is parallel to yours, here in the Parliament, the Committee on Housing. I would not feel comfortable putting forward my plan without having also taken into account the result of your work and your recommendations.

    But this does not mean that I will not act before that. We are already acting. So you could put it all together in one fine plan in a year, but since it’s probably wiser to wait with that plan, I will start doing some of the things already now. That is probably not the way we normally or actually often work, but I think it’s the smart way of doing it so.

    On the State aid rules, we are working on them, [Executive Vice President for a Clean, Just and Competitive Transition] Teresa Ribera and myself, on making, creating a pan-European investment platform, I am working with the EiB on that. On making sure we spend more money from the cohesion funds on housing, going from 7.5 billion euros to 15 billion euro, I am working with Vice-President [for Cohesion and Reforms, Raffaele], Fitto on that and of course also on other issues.

    But I would be interested to hear your comments and answer any questions also!

    Thank you!

    MIL OSI Europe News –

    February 21, 2025
  • MIL-OSI Russia: The government will continue to support citizens within the framework of the social gasification program in 2025

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The provision of subsidies to preferential categories of citizens for partial payment for the purchase and installation of gas equipment within the framework of the social gasification program will continue in 2025. The resolution introducing the corresponding changes to the state program “Energy Development” was signed by Prime Minister Mikhail Mishustin.

    Speaking about the decision taken onGovernment meeting on February 20, Mikhail Mishustin recalled that the state compensates privileged categories of citizens for part of the costs of purchasing and installing the necessary equipment, as well as for the construction of a gas network to residential premises. A subsidy of at least 100 thousand rubles is provided for these purposes. Such support is received by parents with many children and people with low incomes, disabled people of group I, as well as people caring for disabled children, veterans of the Great Patriotic War, participants in a special military operation and their family members.

    “In order to continue to provide support to these categories of citizens, we will extend the rules for providing subsidies for the current year. And we will allocate another 1 billion rubles,” the Prime Minister said.

    The social gasification program was launched on the instructions of the President in 2021. In total, over 1.4 million contracts for the connection of communications were concluded during its implementation.

    The document will be published…

    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.

    MIL OSI Russia News –

    February 21, 2025
  • MIL-OSI Europe: Written question – Impact of Greece’s golden visa scheme on the housing market – E-000613/2025

    Source: European Parliament

    Question for written answer  E-000613/2025
    to the Commission
    Rule 144
    Afroditi Latinopoulou (PfE)

    According to recent data, Greece’s golden visa scheme has played a significant role in the increase in property and rental prices in the country’s urban centres and popular islands. Although the scheme generated around EUR 4.3 billion for the Greek economy between 2021 and 2023, there has been a sharp decline in the availability of long-term rental housing, forcing local residents to move away.

    In view of the above:

    • 1.Given the European Parliament’s 2022 decision to phase out golden visa schemes by 2025, what specific measures does the Commission intend to take to ensure a smooth transition for Member States that implement such schemes?
    • 2.How does it intend to address the social impact on the housing market resulting from these schemes, especially in areas where prices have risen considerably?

    Submitted: 11.2.2025

    Last updated: 20 February 2025

    MIL OSI Europe News –

    February 21, 2025
  • MIL-OSI Europe: Slovakia receives €240 million EIB loan to co-finance green and digital projects supported by the EU

    Source: European Investment Bank

    • EIB provides €240 million loan to Slovakia to advance green and digital projects
    • Slovak government will use EIB long-term financing as national contribution mandatory for EU-financed development projects
    • Credit is first part of €800 million EIB facility approved to strengthen environmental sustainability and economic competitiveness of Slovakia

    The European Investment Bank (EIB) is providing a €240 million loan to Slovakia for co-funding of EU-supported green and digital projects across the country. The credit is the first part of an €800 million EIB loan approved to Slovakia for national contributions mandatory for European Union-supported project which bring billions of euros to member states annually.

    “We are increasing the country’s ability to tap EU grants, enabling Slovak citizens and businesses to benefit from accelerated economic growth and social development,” said EIB Vice-President Kyriacos Kakouris. “Our financing will strengthen cohesion and improve public services, the business environment and living standards in Slovakia.”

    Slovakia will use EIB funding for projects designed to improve research and innovation, digitization of economy, growth and competitiveness of SMEs, work skills for smart specialization, transition and digital connectivity, energy efficiency and renewable energy, climate change adaptation, sustainable water, circular economy and nature protection and biodiversity.

    In addition to helping green Slovakia’s economy, such projects will enhance the country’s living standards and strengthen its competitiveness on global markets.

     “This EIB loan will enable us to support projects that drive digital innovation, expand renewable energy, and enhance climate resilience. Our partnership with the EIB ensures that Slovakia remains at the forefront of the EU’s sustainability goals while fostering job creation and economic resilience in our regions. We are dedicated to using these funds wisely to build a smarter, cleaner, and more competitive economy,” said the Slovak Minister of Finance Ladislav Kamenický.

     EIB annual results in Slovakia for 2024

    In 2024, the EIB Group increased its financing in Slovakia by 21% to €355 million. Key initiatives last year included €50 million to support eco-friendly water and wastewater management in Bratislava and €65 million to help Slovak small and medium enterprises (SMEs) and Mid-Caps drive job creation, enhance competitiveness and advance climate action goals.

    “Our 2024 results are good news for Slovakia and the EU,” said EIB Vice- President Kakouris. “We financed projects of vital importance for a sustainable, green and prosperous future for Slovakia. Our commitment to Slovakia remains strong and, as the country pursues its development goals, it can continue to rely on the EIB for support.”

    EIB advisory activities in the country last year included addressing affordable-housing challenges in Bratislava. Expanding affordable housing across the EU is one of eight operational priorities for the EIB.

     Background information

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

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

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

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

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

    MIL OSI Europe News –

    February 21, 2025
  • MIL-OSI: Lantronix PoE++ Switches Help Power the World’s Largest DC-Powered Warehouse

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., Feb. 20, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity for IoT solutions enabling AI Edge intelligence, today announced its case study on Mouser Electronics’ new 413,000-square-foot, three-story Global Distribution Center, the world’s largest new Class 4 DC-powered installation. The Lantronix PoE++ switches (SM24TBT2DPB and SM24TBT2DPB-DE) are a vital part of the PoE lighting installation for which Mouser won an IBCon 2024 Digie Award for the Most Intelligent DC-Powered Building.

    “Using Lantronix PoE++ switches, we distributed power and controls throughout the Mouser warehouse by using low-voltage DC, which is the best way to create a sustainable building that reduces energy costs while providing a lower carbon footprint and a more comfortable work environment,” said Hannah Walker, chief operating officer of Sinclair Digital, the Authorized Lantronix Valued-Added Reseller that provided the DC digital solution.

    Mouser’s dedication to environmental responsibility and adoption of innovative technologies played a role in its decision to incorporate PoE technology, which delivers DC power to devices over copper Ethernet cabling without the need for separate power supplies or outlets, and
    fault managed power, a DC power infrastructure that eliminates losses associated with AC-to-DC conversion.

    Within enclosures at the ceiling of the new facility, power distribution modules transfer the fault managed power to high voltage DC power for the Lantronix SM24TBT2DPB-DE switches, in turn delivering up to 90W of PoE++ power per port to lighting fixtures, occupancy sensors and other PoE-enabled endpoints. The SM24TBT2DPB switches are also used in racks within the facility to connect more lighting, cameras and wireless access points.

    The PoE lighting system was designed by Baird, Hampton & Brown, a leading electrical engineering firm using Sinclair Digital’s DC digital solution package. Installed by TriCO Electric and Polarity Networks, the PoE lighting fixtures were provided by HE Williams using PoE lighting drivers from MHT Technologies with fault managed power from VoltServer. This DC power infrastructure reduces Mouser’s carbon footprint while improving lighting control and operational costs.

    Benefits of Mouser’s all DC-powered PoE lighting solution include:

    • Reduced energy consumption and related cost savings
    • Minimized environmental impact
    • Enhanced flexibility by improving lighting control
    • Reduced operational costs with fewer maintenance requirements
    • Improved lighting environment for warehouse employees
    • Ability to move and change lighting as warehouse needs change

    “Our Dallas-Fort Worth distribution center now operates on the world’s largest Class 4 power system, providing state-of-the-art lighting for our employees while helping us reduce our energy usage over the long term. Moreover, it provides scalability and flexibility to move or add devices as our needs change, further reducing our long-term costs,” said Pete Shopp, senior vice president of Business Operations at Mouser Electronics.

    Visit the complete Mouser case study here.

    About Lantronix

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth markets, including Smart Cities, Enterprise and Transportation. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that enable AI Edge Intelligence. Lantronix’s advanced solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

    For more information, visit the Lantronix website.

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to Lantronix products or leadership team. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. In addition, actual results may differ as a result of additional risks and uncertainties of which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

    ©2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

    Lantronix Media Contact:        
    Gail Kathryn Miller
    Corporate Marketing &
    Communications Manager
    media@lantronix.com

    Lantronix Analyst and Investor Contact:        
    investors@lantronix.com

    The MIL Network –

    February 21, 2025
  • MIL-OSI Europe: Written question – Radio Televisión Española and the Recovery and Resilience Facility – E-000573/2025

    Source: European Parliament

    Question for written answer  E-000573/2025
    to the Commission
    Rule 144
    Isabel Benjumea Benjumea (PPE), Dolors Montserrat (PPE)

    The Spanish Government has allocated over EUR 20.5 million in Recovery and Resilience Facility funding to Generación D, a project run by the Spanish broadcasting company Radio Televisión Española (RTVE). One of the TV series made as part of the project was Brigada Big Tech, which had thirteen 45-minute episodes and cost EUR 4 565 353. The cost per episode was EUR 351 181 and the production cost per minute was EUR 7 804. This is dearer than the top-level football matches – such as European Championship ties – that RTVE broadcasts.

    The host of Brigada Big Tech, Luján Argüelles, took home EUR 15 000 per episode, the third‑highest salary at Televisión Española at the time, and the highest on the ‘La 2’ channel. For comparison, star presenters like those on Spain’s MasterChef earn EUR 10 000 per episode. However, Brigada Big Tech was a catastrophic flop in terms of viewing figures.

    In light of the above:

    • 1.Has the Commission asked for data on the Generación D project, including data on the final implementation of the project, the list of subcontractors and the amount of money each subcontractor received?
    • 2.How does it view EU funds being used for projects like this one, with salaries well above the market average and a budget that is at odds with the quality of the programme?

    Submitted: 7.2.2025

    Last updated: 20 February 2025

    MIL OSI Europe News –

    February 21, 2025
  • MIL-OSI: Kaltura Announces Financial Results for Fourth Quarter and Full Year 2024

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 20, 2025 (GLOBE NEWSWIRE) — Kaltura, Inc. (“Kaltura” or the “Company”), the video experience cloud, today announced financial results for the fourth quarter and full year ended December 31, 2024, as well as outlook for first quarter and full year 2025.

    “We surpassed our guidance for the fourth quarter, delivering record total and subscription revenue, as well as the highest Adjusted EBITDA since the second quarter of 2020, fueled by record high gross margin. We also posted sequential and year-over-year growth in gross and net dollar retention rates, and in new bookings for the third quarter in a row,” said Ron Yekutiel, Co-founder, Chairman, President and Chief Executive Officer of Kaltura.

    “For the full year, we are pleased to report we achieved record annual subscription revenue, total revenue, and Adjusted EBITDA profit, surpassing our annual guidance for all. We also achieved record gross margin and cash flow from operations. We ended the year with record ARR and RPO, having delivered on our plans to reaccelerate new bookings and revenue throughout the second half of the year, and posted positive cash flow from operations for the year, for the first time since 2020.” Mr. Yekutiel continued, “As we look ahead to 2025 and beyond, we anticipate continued improvement in the market environment for enterprise video offerings, and believe our path to increased growth and profitability will be fueled by customer consolidation around our platform, maturity of our newer products, leveraging our exciting new generative artificial intelligence (“Gen AI”) capabilities, growth potential within our great customer base, and a regrowth of our sales force.”

    Fourth Quarter 2024 Financial Highlights:

    • Revenue for the fourth quarter of 2024 was $45.6 million, an increase of 3% compared to $44.5 million for the fourth quarter of 2023.
       
    • Subscription revenue for the fourth quarter of 2024 was $43.4 million, an increase of 6% compared to $40.8 million for the fourth quarter of 2023.
       
    • Annualized Recurring Revenue (ARR) was $173.9 million, an increase of 6% compared to $164.7 million in 2023.
       
    • GAAP Gross profit for the fourth quarter of 2024 was $32.3 million, representing a gross margin of 71% compared to a GAAP gross profit of $28.6 million and gross margin of 64% for the fourth quarter of 2023. 
       
    • Non-GAAP Gross profit for the fourth quarter of 2024 was $32.6 million, representing a non-GAAP gross margin of 71%, compared to a non-GAAP gross profit of $29.1 million and non-GAAP gross margin of 65% for the fourth quarter of 2023. 
       
    • GAAP Operating loss was $3.8 million for the fourth quarter of 2024, compared to an operating loss of $8.8 million for the fourth quarter of 2023.
       
    • Non-GAAP Operating income was $1.5 million for the fourth quarter of 2024, compared to a non-GAAP operating loss of $0.3 million for the fourth quarter of 2023.
       
    • GAAP Net loss was $6.6 million or $0.04 per diluted share for the fourth quarter of 2024, compared to a GAAP net loss of $12.1 million, or $0.09 per diluted share, for the fourth quarter of 2023.
       
    • Non-GAAP Net loss was $1.3 million or $0.01 per diluted share for the fourth quarter of 2024, compared to a non-GAAP net loss of $3.6 million, or $0.03 per diluted share, for the fourth quarter of 2023.
       
    • Adjusted EBITDA was $2.7 million for the fourth quarter of 2024, compared to Adjusted EBITDA of $0.8 million for the fourth quarter of 2023.
       
    • Net cash provided by operating activities was $4.3 million for the fourth quarter of 2024, compared to $1.6 million in the fourth quarter of 2023.

    Full Year 2024 Financial Highlights:

    • Revenue for the full year of 2024 was $178.7 million, an increase of 2% compared to $175.2 million for the full year of 2023.
       
    • Subscription revenue for the full year of 2024 was $167.7 million, an increase of 3% compared to $162.8 million for the full year of 2023.
       
    • GAAP Gross profit for the full year of 2024 was $119.1 million, representing a gross margin of 67% compared to a GAAP gross profit of $112.2 million and gross margin of 64% for the full year of 2023. 
       
    • Non-GAAP Gross profit for the full year of 2024 was $120.5 million, representing a gross margin of 67% compared to a non-GAAP gross profit of $113.8 million and gross margin of 65% for the full year of 2023. 
       
    • GAAP Operating loss was $24.1 million for the full year of 2024, compared to an operating loss of $38.7 million for the full year of 2023.
       
    • Non-GAAP Operating income was $2.7 million for the full year of 2024, compared a non-GAAP operating loss of $6.7 million for the full year of 2023.
       
    • GAAP Net loss was $31.3 million or $0.21 per diluted share for the full year of 2024, compared to a GAAP net loss of $46.4 million, or $0.34 per diluted share, for the full year of 2023.
       
    • Non-GAAP Net loss was $4.5 million or $0.03 per diluted share for the full year of 2024, compared to a non-GAAP net loss of $14.4 million, or $0.10 per diluted share, for the full year of 2023.
       
    • Adjusted EBITDA was $7.3 million for the full year of 2024, compared to an Adjusted EBITDA of negative $2.5 million for the full year of 2023.
       
    • Net cash provided by operating activities was $12.2 million for the full year of 2024, compared to $8.3 million net cash used in operating activities for the full year of 2023.

    Fourth Quarter 2024 Business Highlights:

    • Closed four new seven-digit deals and twenty-nine six-digit deals – the highest combined number of six and seven-digit deals since the third quarter of 2022.
    • Highest new subscription bookings since the fourth quarter of 2022 – third quarter in a row of sequential and year-over-year growth.
    • Sequential and year-over-year improvement in gross retention, and 103% Net Dollar Retention rate.
    • Launched Gen AI based “Class Genie” and “Work Genie” that power real-time hyper-personalized video-first experiences. Our Beta program for evaluating our Work and Class Genies saw strong interest from dozens of large organizations.
    • Kaltura’s Media and Telecom new Gen AI features for streaming services earned a place in the FEED Magazine 2024 Honors List, in the “Special Recognition in AI” category.

    Financial Outlook:

    For the first quarter of 2025, Kaltura expects:

    • Subscription Revenue to grow by 5%-7% year-over-year to between $43.4 million and $44.2 million.
    • Total Revenue to grow by 2%-4% year-over-year to between $45.7 million and $46.5 million.
    • Adjusted EBITDA to be in the range of $2.5 million to $3.5 million.

    For the full year ending December 31, 2025, Kaltura expects:

    • Subscription Revenue to grow by 2%-3% year-over-year to between $170.4 million and $173.4 million.
    • Total Revenue to grow 1%-2% year-over-year to between $179.9 million and $182.9 million.
    • Adjusted EBITDA to be in the range of $12.7 million to $14.7 million.

    The guidance provided above contains forward-looking statements and actual results may differ materially. Refer to “Forward-Looking Statements” below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. Kaltura has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net loss within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. The reconciliation for Adjusted EBITDA includes but is not limited to the following items: stock-based compensation expenses, depreciation, amortization, financial expenses (income), net, provision for income tax, and other non-recurring operating expenses. These items, which could materially affect the computation of forward-looking GAAP net loss, are inherently uncertain and depend on various factors, some of which are outside of the Company’s control. The guidance above is based on the Company’s current expectations relating to the macro-economic climate trends.

    Additional information on Kaltura’s reported results, including a reconciliation of the non-GAAP financial measures to their most comparable GAAP measures, is included in the financial tables below.

    Investor Deck

    Our fourth quarter and full year 2024 Investor Deck has been posted in the investor relations page on our website at: www.investors.kaltura.com.         

    Conference Call

    Kaltura will host a conference call today on February 20, 2025 to review its fourth quarter and full year 2024 financial results and to discuss its financial outlook.

      Time: 8:00 a.m. ET  
      United States/Canada Toll Free: 1-877-407-0789  
      International Toll: 1-201-689-8562  
           

    A live webcast will also be available in the Investor Relations section of Kaltura’s website at: https://investors.kaltura.com/news-and-events/events

    A replay of the webcast will be available in the Investor Relations section of the company’s web site approximately two hours after the conclusion of the call and remain available for approximately 30 calendar days.

    About Kaltura

    Kaltura’s mission is to power any video experience for any organization. Our Video Experience Cloud offers live, real-time, and on-demand video products for enterprises of all industries, as well as specialized industry solutions, currently for educational institutions and for media and telecom companies. Underlying our products and solutions is a broad set of Media Services that are also used by other cloud platforms and companies to power video experiences and workflows for their own products. Kaltura’s Video Experience Cloud is used by leading brands reaching millions of users, at home, at school and at work, for communication, collaboration, training, marketing, sales, customer care, teaching, learning, virtual events, and entertainment experiences.

    Investor Contacts:
    Kaltura
    John Doherty
    Chief Financial Officer
    IR@Kaltura.com

    Sapphire Investor Relations
    Erica Mannion and Michael Funari
    +1 617 542 6180
    IR@Kaltura.com

    Media Contacts:
    Kaltura
    Nohar Zmora
    pr.team@kaltura.com

    Headline Media
    Raanan Loew
    raanan@headline.media
    +1 347 897 9276

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, statements regarding our future financial and operating performance, including our guidance; our business strategy, plans and objectives for future operations, including new products and capabilities and growth of our salesforce; our expectations regarding growth and profitability goals; and general economic, business and industry conditions, including expectations with respect to trends in customer consolidation and adoption of Gen AI technology.

    In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Any forward-looking statements contained herein are based on our historical performance and our current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent our expectations as of the date of this press release. Subsequent events may cause these expectations to change, and we disclaim any obligation to update the forward-looking statements in the future, except as required by law. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from our current expectations.

    Important factors that could cause actual results to differ materially from those anticipated in our forward-looking statements include, but are not limited to, the current volatile economic climate and its direct and indirect impact on our business and operations; political, economic, and military conditions in Israel and other geographies; our ability to retain our customers and meet demand; our ability to achieve and maintain profitability; the evolution of the markets for our offerings; our ability to keep pace with technological and competitive developments; risks associated with our use of certain artificial intelligence and machine learning models; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications; risks associated with our Application Programming Interfaces, other components in our offerings and other intellectual property; our ability to compete successfully against current and future competitors; our ability to increase customer revenue; risks related to our approach to revenue recognition; our potential exposure to cybersecurity threats; our compliance with data privacy and data protection laws; our ability to meet our contractual commitments; our reliance on third parties; our ability to retain our key personnel; risks related to revenue mix and customer base; risks related to our international operations; risks related to potential acquisitions; our ability to generate or raise additional capital; and the other risks under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”), as such factors are updated in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, filed with the SEC, and as such factors may be updated from time to time in our other filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, to be filed with the SEC, which are accessible on the SEC’s website at www.sec.gov and the Investor Relations page of our website at investors.kaltura.com.

    Non-GAAP Financial Measures

    Kaltura has provided in this press release and the accompanying tables measures of financial information that have not been prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”), including non-GAAP gross profit, non-GAAP gross margin (calculated as a percentage of revenue), non-GAAP research and development expenses, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP operating loss, non-GAAP operating margin (calculated as a percentage of revenue), non-GAAP net loss, non-GAAP net loss per share and Adjusted EBITDA. Kaltura defines these non-GAAP financial measures as the respective corresponding GAAP measure, adjusted for, as applicable: (1) stock-based compensation expense; (2) the amortization of acquired intangibles; (3) facility exit and transition costs; (4) restructuring charges; and (5) war-related costs. Kaltura defines EBITDA as net profit (loss) before financial expenses (income), net, provision for income taxes, and depreciation and amortization expenses. Adjusted EBITDA is defined as EBITDA (as defined above), adjusted for the impact of certain non-cash and other items that we believe are not indicative of our core operating performance, such as non-cash stock-based compensation expenses, facility exit and transition costs, restructuring charges and other non-recurring operating expenses. We believe these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to Kaltura’s financial condition and results of operations. These non-GAAP metrics are a supplemental measure of our performance, are not defined by or presented in accordance with GAAP, and should not be considered in isolation or as an alternative to net profit (loss) or any other performance measure prepared in accordance with GAAP. Non-GAAP financial measures are presented because we believe that they provide useful supplemental information to investors and analysts regarding our operating performance and are frequently used by these parties in evaluating companies in our industry.

    By presenting these non-GAAP financial measures, we provide a basis for comparison of our business operations between periods by excluding items that we do not believe are indicative of our core operating performance. We believe that investors’ understanding of our performance is enhanced by including these non-GAAP financial measures as a reasonable basis for comparing our ongoing results of operations. Additionally, our management uses these non-GAAP financial measures as supplemental measures of our performance because they assist us in comparing the operating performance of our business on a consistent basis between periods, as described above. Although we use the non-GAAP financial measures described above, such measures have significant limitations as analytical tools and only supplement but do not replace, our financial statements in accordance with GAAP. See the tables below regarding reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.

    Key Financial and Operating Metrics

    Annualized Recurring Revenue. We use Annualized Recurring Revenue (“ARR”) as a measure of our revenue trend and an indicator of our future revenue opportunity from existing recurring customer contracts. We calculate ARR by annualizing our recurring revenue for the most recently completed fiscal quarter. Recurring revenues are generated from SaaS and PaaS subscriptions, as well as term licenses for software installed on the customer’s premises (“On-Prem”). For the SaaS and PaaS components, we calculate ARR by annualizing the actual recurring revenue recognized for the latest fiscal quarter. For the On-Prem components for which revenue recognition is not ratable across the license term, we calculate ARR for each contract by dividing the total contract value (excluding professional services) as of the last day of the specified period by the number of days in the contract term and then multiplying by 365. Recurring revenue excludes revenue from one-time professional services and setup fees. ARR is not adjusted for the impact of any known or projected future customer cancellations, upgrades or downgrades or price increases or decreases. The amount of actual revenue that we recognize over any 12-month period is likely to differ from ARR at the beginning of that period, sometimes significantly. This may occur due to new bookings, cancellations, upgrades or downgrades, pending renewals, professional services revenue, foreign exchange rate fluctuations and acquisitions or divestitures. ARR should be viewed independently of revenue as it is an operating metric and is not intended to be a replacement or forecast of revenue. Our calculation of ARR may differ from similarly titled metrics presented by other companies.

    Net Dollar Retention Rate. Our Net Dollar Retention Rate, which we use to measure our success in retaining and growing recurring revenue from our existing customers, compares our recognized recurring revenue from a set of customers across comparable periods. We calculate our Net Dollar Retention Rate for a given period as the recognized recurring revenue from the latest reported fiscal quarter from the set of customers whose revenue existed in the reported fiscal quarter from the prior year (the numerator), divided by recognized recurring revenue from such customers for the same fiscal quarter in the prior year (denominator). For annual periods, we report Net Dollar Retention Rate as the arithmetic average of the Net Dollar Retention Rate for all fiscal quarters included in the period. We consider subdivisions of the same legal entity (for example, divisions of a parent company or separate campuses that are part of the same state university system) ,as well as Value-add Resellers (“VARs”) (meaning resellers that directly manage the relationship with the customer) and the customers they manage, to be a single customer for purposes of calculating our Net Dollar Retention Rate. Our calculation of Net Dollar Retention Rate for any fiscal period includes the positive recognized recurring revenue impacts of selling new services to existing customers and the negative recognized recurring revenue impacts of contraction and attrition among this set of customers. Our Net Dollar Retention Rate may fluctuate as a result of a number of factors, including the growing level of our revenue base, the level of penetration within our customer base, expansion of products and features, and our ability to retain our customers. Our calculation of Net Dollar Retention Rate may differ from similarly titled metrics presented by other companies.

    Remaining Performance Obligations. Remaining Performance Obligations represents the amount of contracted future revenue that has not yet been delivered, including both subscription and professional services revenues. Remaining Performance Obligations consists of both deferred revenue and contracted non-cancelable amounts that will be invoiced and recognized in future periods. We expect to recognize 58% of our Remaining Performance Obligations as revenue over the next 12 months, and the remainder over the next four years. However, we cannot guarantee that any portion of our Remaining Performance Obligations will be recognized as revenue within the timeframe we expect or at all.

     
    Consolidated Balance Sheets (U.S. dollars in thousands; Unaudited)
     
        December 31,
          2024       2023  
    ASSETS        
    CURRENT ASSETS:        
    Cash and cash equivalents   $ 33,059     $ 36,684  
    Marketable securities     48,275       32,692  
    Trade receivables     19,978       23,312  
    Prepaid expenses and other current assets     9,481       8,410  
    Deferred contract acquisition and fulfillment costs, current     10,765       10,636  
             
    Total current assets     121,558       111,734  
    LONG-TERM ASSETS:        
    Marketable securities     3,379       5,844  
    Property and equipment, net     16,190       20,113  
    Other assets, noncurrent     2,983       3,100  
    Deferred contract acquisition and fulfillment costs, noncurrent     13,605       17,314  
    Operating lease right-of-use assets     12,308       13,872  
    Intangible assets, net     212       689  
    Goodwill     11,070       11,070  
             
    Total noncurrent assets     59,747       72,002  
    TOTAL ASSETS   $ 181,305     $ 183,736  
    LIABILITIES AND STOCKHOLDERS’ EQUITY        
    CURRENT LIABILITIES:        
    Current portion of long-term loans     3,110       1,612  
    Trade payables     3,265       3,629  
    Employees and payroll accruals     15,399       12,651  
    Accrued expenses and other current liabilities     14,262       17,279  
    Operating lease liabilities     2,504       2,374  
    Deferred revenue, current     63,123       62,364  
    Total current liabilities     101,663       99,909  
    NONCURRENT LIABILITIES:        
    Deferred revenue, noncurrent     67       369  
    Long-term loans, net of current portion     29,153       33,047  
    Operating lease liabilities, noncurrent     15,263       17,796  
    Other liabilities, noncurrent     10,772       2,295  
             
    Total noncurrent liabilities     55,255       53,507  
    TOTAL LIABILITIES   $ 156,918     $ 153,416  
    STOCKHOLDERS’ EQUITY:        
    Common stock     15       14  
    Treasury stock     (7,801 )     (4,881 )
    Additional paid-in capital     500,024       471,635  
    Accumulated other comprehensive income (loss)     959       1,047  
    Accumulated deficit     (468,810 )     (437,495 )
             
    Total stockholders’ equity     24,387       30,320  
             
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 181,305     $ 183,736  
     
    Consolidated Statements of Operations (U.S. dollars in thousands, except for share data; Unaudited)
     
        Three Months ended
    December 31
      Twelve Months ended
    December 31,
         2024    2023     2024       2023  
                     
    Revenue:                
                     
    Subscription   $ 43,414   $ 40,787   $ 167,681     $ 162,750  
    Professional services     2,195     3,689     11,036       12,422  
                     
    Total revenue     45,609     44,476     178,717       175,172  
                     
    Cost of revenue:                
                     
    Subscription     9,852     11,118     42,552       44,224  
    Professional services     3,476     4,712     17,059       18,714  
                     
    Total cost of revenue     13,328     15,830     59,611       62,938  
                     
    Gross profit     32,281     28,646     119,106       112,234  
                     
    Operating expenses:                
                     
    Research and development     12,970     12,737     49,430       52,400  
    Sales and marketing     12,345     12,309     47,766       48,798  
    General and administrative     10,759     12,420     46,009       48,718  
    Restructuring     —     —     —       973  
                     
    Total operating expenses     36,074     37,466     143,205       150,889  
                     
    Operating loss     3,793     8,820     24,099       38,655  
                     
    Financial expenses (income), net     1,238     1,847     (434 )     (1,200 )
                     
    Loss before provision for income taxes     5,031     10,667     23,665       37,455  
    Provision for income taxes     1,574     1,400     7,650       8,911  
                     
    Net loss     6,605     12,067     31,315       46,366  
                     
    Net loss per share   $ 0.04   $ 0.09   $ 0.21     $ 0.34  
                     
    Weighted-average shares used in computing net loss per share     150,452,462     141,791,191     147,925,797       138,237,017  
     
    Consolidated Statements of Operations (U.S. dollars in thousands, except for share data; Unaudited)
     
    Stock-based compensation included in above line items:
     
        Three Months ended
    December 31,
      Twelve Months ended
    December 31,
         2024    2023    2024    2023
                     
    Cost of revenue   $ 195   $ 301   $ 1,002   $ 1,128
    Research and development     1,178     1,295     4,775     4,734
    Sales and marketing     518     840     2,701     3,187
    General and administrative     3,308     5,588     17,786     20,931
                     
    Total   $ 5,199   $ 8,024   $ 26,264   $ 29,980
     
    Revenue by Segment (U.S. dollars in thousands; Unaudited):
     
        Three Months Ended
    December 31,
      Twelve Months Ended
    December 31,
         2024    2023    2024    2023
                     
    Enterprise, Education and Technology   $ 32,958   $ 31,569   $ 128,704   $ 125,154
    Media and Telecom     12,651     12,907     50,013     50,018
                     
    Total   $ 45,609   $ 44,476   $ 178,717   $ 175,172
     
    Gross Profit by Segment (U.S. dollars in thousands; Unaudited):
     
        Three Months Ended
    December 31,
      Twelve Months Ended
    December 31,
         2024    2023    2024    2023
                     
    Enterprise, Education and Technology   $ 25,901   $ 22,998   $ 96,928   $ 91,624
    Media and Telecom     6,380     5,648     22,178     20,610
                     
    Total   $ 32,281   $ 28,646   $ 119,106   $ 112,234
     
    Consolidated Statement of Cash Flows (U.S. dollars in thousands; Unaudited)
     
        Twelve Months Ended December 31,
          2024       2023  
    Cash flows from operating activities:        
    Net loss   $ (31,315 )   $ (46,366 )
    Adjustments to reconcile net loss to net cash provided by (used in) operating activities:        
    Depreciation and amortization     5,064       4,717  
    Stock-based compensation expenses     26,264       29,980  
    Amortization of deferred contract acquisition and fulfillment costs     11,447       11,669  
    Non-cash interest income, net     (1,219 )     (1,023 )
    Gain on foreign exchange     (90 )     (728 )
    Changes in operating assets and liabilities:        
    Decrease in trade receivables     3,334       5,475  
    Decrease (Increase) in prepaid expenses and other current assets and other assets, noncurrent     (949 )     648  
    Increase in deferred contract acquisition and fulfillment costs     (7,497 )     (6,561 )
    Decrease in trade payables     (534 )     (5,884 )
    Increase in accrued expenses and other current liabilities     5,376       797  
    Increase (Decrease) in employees and payroll accruals     2,748       (2,233 )
    Increase (Decrease) in other liabilities, noncurrent     (14 )     443  
    Increase in deferred revenue     458       1,626  
    Operating lease right-of-use assets and lease liabilities, net     (840 )     (863 )
             
    Net cash provided by (used in) operating activities     12,233       (8,303 )
             
    Cash flows from investing activities:        
             
    Investment in available-for-sale marketable securities     (50,874 )     (47,708 )
    Proceeds from maturities of available-for-sale marketable securities     38,981       51,976  
    Purchases of property and equipment     (521 )     (2,607 )
    Capitalized internal-use software development costs     —       (1,493 )
    Investment in restricted bank deposit     —       (1,751 )
             
    Net cash used in investing activities     (12,414 )     (1,583 )
             
    Cash flows from financing activities:        
             
    Proceeds from long-term loans     —       3,500  
    Repayment of long-term loans     (2,187 )     (4,500 )
    Proceeds from exercise of stock options     1,620       1,383  
    Payment of debt issuance costs     (17 )     (274 )
    Repurchase of common stock     (2,920 )     —  
    Payments on account of repurchase of common stock     (30 )     —  
             
    Net cash provided by (used in) financing activities     (3,534 )     109  
             
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   $ 90     $ 728  
             
    Net decrease in cash, cash equivalents and restricted cash   $ (3,625 )   $ (9,049 )
    Cash, cash equivalents and restricted cash at the beginning of the year     36,784       45,833  
             
    Cash, cash equivalents and restricted cash at the end of the year   $ 33,159     $ 36,784  
     
    Reconciliation from GAAP to Non-GAAP Results (U.S. dollars in thousands; Unaudited)
     
        Three Months   Twelve Months
        Ended December 31,   Ended December 31,
          2024       2023       2024       2023  
    Reconciliation of gross profit and gross margin                
    GAAP gross profit   $ 32,281     $ 28,646     $ 119,106     $ 112,234  
    Stock-based compensation expense     195       301       1,002       1,128  
    Amortization of acquired intangibles     107       107       427       426  
    Non-GAAP gross profit   $ 32,583     $ 29,054     $ 120,535     $ 113,788  
    GAAP gross margin     71 %     64 %     67 %     64 %
    Non-GAAP gross margin     71 %     65 %     67 %     65 %
    Reconciliation of operating expenses                
    GAAP research and development expenses   $ 12,970     $ 12,737     $ 49,430     $ 52,400  
    Stock-based compensation expense     1,178       1,295       4,775       4,734  
    Amortization of acquired intangibles     —       —       —       —  
    Non-GAAP research and development expenses   $ 11,792     $ 11,442     $ 44,655     $ 47,666  
    GAAP sales and marketing   $ 12,345     $ 12,309     $ 47,766     $ 48,798  
    Stock-based compensation expense     518       840       2,701       3,187  
    Amortization of acquired intangibles     11       13       50       128  
    Non-GAAP sales and marketing expenses   $ 11,816     $ 11,456     $ 45,015     $ 45,483  
    GAAP general and administrative expenses   $ 10,759     $ 12,420     $ 46,009     $ 48,718  
    Stock-based compensation expense     3,308       5,588       17,786       20,931  
    Amortization of acquired intangibles     —       —       —       —  
    Facility exit and transition costs (a)     —       —       —       154  
    War related costs (b)     22       331       44       331  
    Non-GAAP general and administrative expenses   $ 7,429     $ 6,501     $ 28,179     $ 27,302  
    Reconciliation of operating loss and operating margin                
    GAAP operating loss   $ (3,793 )   $ (8,820 )   $ (24,099 )   $ (38,655 )
    Stock-based compensation expense     5,199       8,024       26,264       29,980  
    Amortization of acquired intangibles     118       120       477       554  
    Restructuring (c)     —       —       —       973  
    Facility exit and transition costs (a)     —       —       —       154  
    War related costs (b)     22       331       44       331  
    Non-GAAP operating income ( loss)   $ 1,546     $ (345 )   $ 2,686     $ (6,663 )
    GAAP operating margin     (8 )%     (20 )%     (13 )%     (22 )%
    Non-GAAP operating margin     3 %     (1 )%     2 %     (4 )%
    Reconciliation of net loss                
    GAAP net loss attributable to common stockholders   $ (6,605 )   $ (12,067 )   $ (31,315 )   $ (46,366 )
    Stock-based compensation expense     5,199       8,024       26,264       29,980  
    Amortization of acquired intangibles     118       120       477       554  
    Restructuring (c)     —       —       —       973  
    Facility exit and transition costs (a)     —       —       —       154  
    War related costs (b)     22       331       44       331  
    Non-GAAP loss attributable to common stockholders   $ (1,266 )   $ (3,592 )   $ (4,530 )   $ (14,374 )
                     
    Non-GAAP net loss per share – basic and diluted   $ 0.01     $ 0.03     $ 0.03     $ 0.10  

            

     
    Adjusted EBITDA (U.S. dollars in thousands; Unaudited)
     
      Three Months Ended December 31,   Twelve Months Ended December 31,
        2024       2023       2024       2023  
       
    Net loss $ (6,605 )   $ (12,067 )   $ (31,315 )   $ (46,366 )
    Financial expenses (income), net (d)   1,238       1,847       (434 )     (1,200 )
    Provision for income taxes   1,574       1,400       7,650       8,911  
    Depreciation and amortization   1,230       1,308       5,065       4,717  
    EBITDA   (2,563 )     (7,512 )     (19,035 )     (33,938 )
    Non-cash stock-based compensation expense   5,199       8,024       26,264       29,980  
    Facility exit and transition costs (a)   —       —       —       154  
    Restructuring (c)   —       —       —       973  
    War related costs (b)   22       331       44       331  
    Adjusted EBITDA $ 2,658     $ 843     $ 7,273     $ (2,500 )
    (a)   Facility exit and transition costs for the year ended December 31, 2023, include losses from sale of fixed assets and other costs associated with moving to our temporary office in Israel.
    (b)   The years ended December 31, 2024, and 2023 include costs related to conflicts in Israel. These costs are attributable to the temporary relocation of key employees from Israel for business continuity purposes, the purchase of emergency equipment for key employees, charitable donations to communities directly impacted by the war, and office fixes and modifications.
    (c)   The year ended December 31, 2023 includes employee termination benefits incurred in connection with our 2023 reorganization plan.
    (d)   The three months ended December 31, 2024 and 2023, and the year ended December 31, 2024 and 2023 include $551, $692, $2,682 and $3,178, respectively, of interest expenses and $902, $538, $3,355, and $2,735, respectively, of interest income.
    Reported KPIs
     
        December 31,
         2024    2023
        (U.S. dollars amounts in thousands)
    Annualized Recurring Revenue             $ 173,900   $ 164,723
    Remaining Performance Obligations             $ 203,379   $ 185,305
     
        Three Months Ended December 31,
        2024     2023  
    Net Dollar Retention Rate             103 %   98 %

    The MIL Network –

    February 21, 2025
  • MIL-OSI Europe: SEK 22 billion in EIB financing provided for Swedish firms and municipalities in 2024

    Source: European Investment Bank

    • The city of Stockholm, SKF, Ericsson, Tele2 and Chromafora were some of the actors in Sweden granted EU financing in 2024 through the EIB Group.
    • This financing amounted to around SEK 22 billion (€1.9 billion) and more than 65% of this went to initiatives supporting the green transition.
    • Just over 32 000 jobs are estimated to have been saved thanks to this financing.

    Over the course of 2024, the European Investment Bank (EIB) and the European Investment Fund (EIF) continued to support Sweden’s economic development and climate initiatives through substantial investments.

    The EIB Group’s financing during the year amounted to around SEK 22 billion, of which more than 60% went to climate measures and environmental sustainability. This money supported wind power, energy-efficient housing and industrial electrification, among other projects.

    These investments are estimated to have kept 32 000 jobs in Sweden.

    “Sweden has come a long way in the green transition, but the work is far from complete. As the EU climate bank, we are proud to be accelerating efforts within renewable energy, electrification and other climate-promoting initiatives, and we will continue to support investments that make a real difference for the climate and society as a whole. We are also proud to contribute to jobs and strong infrastructure, which creates long-term value for Swedish society,” said EIB Vice-President Thomas Östros.

    Over the course of 2024, the EIB Group signed more than 20 agreements to provide financing in Sweden. Here are a few examples:

    SKF: €430 million for research and innovation in fields such as renewable energy and electromobility.

    Chromafora: €22.5 million to combat PFAS (“forever chemicals”).

    Tele2: €140 million to expand the 5G network in order to reach 99% of the Swedish population.

    City of Stockholm: €368 million to redevelop the Slussen area and reduce the risk of flooding.

    City of Malmö: €225 million to build more than 1 500 energy-efficient apartments.

    These investments reflect the EIB Group’s extensive involvement in Sweden’s green transition, digitalisation and social development.

    The European Investment Fund (EIF) – which is part of the EIB – allocated €320 million to capital investments and guarantees in Sweden in 2024. This in turn is expected to mobilise around SEK 3.8 billion in investment for the Swedish economy, with more than 5 300 companies expected to benefit from this financing in different ways.

    Several of the initiatives are supported by the European Commission’s InvestEU programme.

    In addition to investing in funds such as Course Corrected and the Swedish Impact Lending Fund, the EIF also issued guarantees for businesses such as the corporate lender Froda.

    Please note: The figures provided in this press release are approximate and subject to exchange rates.

     Background information

    EIB

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 billion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

    Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.

    MIL OSI Europe News –

    February 21, 2025
  • MIL-OSI Europe: Statement by President von der Leyen at the joint press conference with Barbadian Prime Minister Mottley

    Source: European Commission

    European Commission Statement Bridgetown, 19 Feb 2025 Prime Minister, dear Mia,
    Thank you for hosting me here in Barbados. It is indeed the first time that I am here, it is fantastic. It is a big pleasure to join you and our partners at this CARICOM Summit. I have crossed the Atlantic to share with you how much Europe values its partnership with the Caribbean. We live in an unpredictable world. In these times, it is more important than ever to stick together; to stand up for our values; and to deepen ties with friends.

    Despite being an ocean apart, Europe and the Caribbean are very close at heart. We are strong and vibrant democracies; we are convinced that it is of big importance to defend multilateralism and the rule of law; we believe in freedom and the right of people to choose their own future. This is why you have been standing with Ukraine since the very beginning of the war. Ukraine is a future member of the European family. So supporting them means also supporting us. And it is important to also call for a just peace not only in Ukraine but also in the Middle East, in Sudan and Haiti, which is what you have always done.

    While sharing our values, we also face some of the same challenges. When devastating hurricanes sweep through your islands, like hurricane Beryl last July, Europe wants to be by your side: We provide emergency support to those who have lost everything, we are rebuilding together. Actually, we are currently supporting Grenada to rebuild Carriacou and Petite Martinique with the goal of making the islands 100% powered by renewable energy. And we have just discussed how to strengthen our cooperation in resilience and preparedness, so to work closer together to have a foresight when these natural disasters and extreme weather events, which are often related to climate change, hit.

    We know that the fight against climate change is truly existential. In the face of hardship, the Caribbean are showing incredible leadership. Especially you, my dear Mia. You have amplified the voice of small island nations on the global stage, for the benefit of all humanity. This was key, for example, to the launch of the Loss and Damage Fund together at COP29. It amounts to almost USD 750 million in pledge, half of it covered by Europe and its Member States. Because climate financing is another very important challenge. Europe is the leading provider. We contribute well beyond our fair share of the USD 100 billion annual target.

    But we know that given the scale of the transition and its urgency, we need new and innovative financing tools – in addition – like green bonds and carbon and nature credits, for example, which is what we are working on. And we need to bring the private sector fully on board, with a smarter use of private and public funds. With your Bridgetown Initiative, dear Mia, you are leading the way to making green and development financing fairer, more accessible and more affordable so that the climate targets can be met.

    Another initiative you mentioned is renewable energy. At COP28 we agreed on global targets for renewables and energy efficiency. We want to triple renewable energy and double energy efficiency by 2030. To implement these goals, we created the Global Energy Transition Forum, because only what gets measured gets done, and we really need that the goals on paper are achieved on the ground. And this year, Barbados joined the Global Energy Transition Forum, I am very glad about that, that is great. It will allow us to deliver concrete projects on the ground and unlock more investment for the transition. And I hope that many Caribbean nations will follow your example.

    This brings me to our bilateral work. The starting point for us is our investment programme Global Gateway. That is the investment programme abroad for partners. It is already at work – here in Barbados and across the Caribbean. Together with Hydrogen de France we have just signed the first green hydrogen storage project in Barbados. What is important is that renewable energy is homegrown, and therefore it is cheaper: It gives you energy independence and it gives you energy security, and it is the energy of the future, because it is clean energy.

    We are, as you said, also working on the health sector. I think both of us have learnt our bitter lessons during COVID-19 and how vulnerable we are. And therefore, we support your pharmaceutical sovereignty. It means vaccines and medication produced in the Caribbean, for the Caribbean, but also to be a hub for the rest of the world. We have just signed a biomedical partnership between BioMedX, a European biotech company, and Barbados. And tomorrow, we will launch ‘PharmaNext’, a project that really boosts innovation and investments across the Atlantic. Because it also aligns the regulatory environment that is so important to move forward.

    We have other great projects in the Caribbean. One has really caught my attention: In Barbados and Grenada, we are turning the sargassum threat into an opportunity, and I think it is really smart. We are working to transform this harmful alga into fertiliser, biomass and even cosmetics.This project has, and this is phenomenal, the potential to leverage almost EUR 400 million in investments. And actually, we are bringing thus a harmful alga, fighting a harmful alga but turning it into an opportunity that brings revenue. So it could not be better. Finally, we are bringing the Caribbean closer together and closer to us – with digital connectivity. Tomorrow, we will commit with Spain to deliver high-speed internet via satellite to even the most remote communities here. So the last kilometre that is always so difficult, we are going to manage that now via satellite.

    To me, the spirit of Global Gateway is needed more than ever. We are investing in value chains, skills and jobs. We are sharing knowledge and technology for the benefit of both sides. We are looking into a long-term and trusted partnership. And we are convinced that a win-win situation is the most beneficial for our people and our economy.

    Thank you very much again for having me here.

    MIL OSI Europe News –

    February 21, 2025
  • MIL-OSI Economics: Create Unforgettable Moments in the Comfort of Your Home with great Samsung Blue Tag Sale Deals

    Source: Samsung

     

     
    Samsung is bringing the ultimate home entertainment experience right to your doorstep with the Blue Tag Sale – on until 2 March 2025. It’s now easier than ever to transform your home into a space where comfort meets connection. Elevate your entertainment, streamline your hosting experience, and enhance your home’s functionality with Samsung’s range of innovative products that are designed to make every moment spent at home effortless, immersive, and memorable.
     
    Entertaining Made Effortless
    Samsung’s range of innovative products is built to make hosting gatherings a breeze. Whether you’re planning a movie night, a lively dinner party, or a thrilling game-day gathering, Samsung’s technology ensures seamless operation from start to finish. Transform your home into the ultimate entertainment hub with the perfect ambiance and hassle-free control. Samsung makes it easier than ever to be the host with the most.
     
    Immersive Entertainment Experiences
    Samsung’s top-tier Smart TVs, advanced sound systems, and immersive displays create a cinematic experience that will leave your guests in awe. With stunning picture quality, vibrant colours, and crystal-clear sound, every movie, show, and sports event is an opportunity to experience entertainment at its finest. Whether streaming the latest blockbusters or enjoying the latest music hits, Samsung technology brings joy and excitement to your living space like never before.
     
    Seamless Connectivity and Smart Home Integration
    Samsung’s smart home ecosystem, powered by SmartThings, takes home connectivity to a new level. Control every aspect of your home’s entertainment and environment with a single device. Adjust the temperature, and effortlessly switch between media – all with a few taps. Samsung SmartThings is compatible with various brands – just look for the “Works with SmartThings” badge or Matter and Home connectivity Alliance badges to make your home smarter, more connected, and easier to enjoy.
     
    Design Meets Functionality
    Samsung’s products are crafted to blend seamlessly into your home décor while delivering exceptional performance. With sleek, modern designs, each product enhances your living space without compromising on functionality. Hosting becomes even more enjoyable when the technology in your home is as aesthetically pleasing as it is practical.
     
    Awesome deals on great products
    To make your home even more special, Samsung’s Blue Tag Sale offers incredible discounts on some of its most popular products:
     
    75″ DU7000 Crystal UHD 4K HDR Smart TV – UA75DU7000KXXA: Now R12,999* (Save R2,000)
    85 Inch QLED 4K Q60D Tizen OS Smart TV (2024) – QA85Q60DAKXXA: Get it for R27,999* (Save R2,000)
    Music Frame HW-LS60D Wireless Smart Speaker (HW-LS60D/XA): Now R5,499* (Save R1,500)
    Bespoke AI 12KG Front Loader, with Eco bubble (WW12BB944DGBFA): Now R14,999* (Save R1,000)
    AR9500T Wall-mount AC with Windfree TM and AI technology, 18000 BTU/h (AR18BSAAAWK/FA): Available for R22,999* (Save R4,000)
    Side by Side Fridge, Non-plumbed Water & Ice dispenser, Gentle Black, 617L (RS64DG53R3B1FA): Yours for R29,999* (Save R2,100)
     
    The Samsung Blue Tag Sale runs from 13 January – 2 March 2025, in Samsung stores, online, the Samsung Shop App, as well as participating retailers. Don’t miss out!
     
    For more information, visit www.samsung.com/za

    MIL OSI Economics –

    February 21, 2025
  • MIL-OSI United Kingdom: Chair and two Trustees reappointed to Theatres Trust board

    Source: United Kingdom – Executive Government & Departments

    The Secretary of State has reappointed Dave Moutrey as Chair, and James Dacre and Stephanie Hall as Trustees of Theatres Trust for a second term of 3 years.

    Dave Moutrey

    Appointed from 21 February 2025 to February 2028

    Dave is responsible for leading the creation and delivery of Manchester City Council’s cultural and creative industries policy and strategy, working closely with the city’s cultural and creative sectors on joint initiatives. He was appointed to this role after a 6-year part-time secondment to the Council as Director of Culture. 

    Until March 2024, he was Director and Chief Executive of HOME, a purpose-built multi-art venue that opened in May 2015. He conceived and led the merger of Cornerhouse and Library Theatre Company to create HOME, along with the £25m capital project for the building, which has attracted almost 1 million visits per year since opening. HOME includes 5 cinema screens, education spaces, digital production and broadcast facilities, a 500-seat theatre, 150-seat flexible theatre, a large gallery, café bar, restaurant, offices, and other spaces consistent with a production centre. It provides opportunities for artists and audiences to create work together, as well as a social and cultural hub. Before HOME, Dave was Director and CEO of Cornerhouse from 1998, having established and led the regional arts marketing agency Arts About Manchester. 

    Dave was awarded an OBE for services to culture in 2022 and a Doctor of Arts honoris causa by the University of Salford in 2018. He is a member of the Chartered Management Institute and the British Academy of Film and Television Arts. He was previously an advisor to the British Council and still holds several non-executive roles on not-for-profit boards.

    James Dacre

    Appointed from 21 February 2025 to 20 February 2028

    James Dacre is a Director and Creative Producer who has directed, produced and toured work to several hundred theatres, opera houses and festivals across the UK and abroad, with his productions winning Olivier, The Stage and UK Theatre Awards. He recently founded Living Productions which produces theatre, film, concerts and festivals. James was Artistic Director of Royal & Derngate Theatres from 2013-2023 and previously held roles as Associate Director at the New Vic Theatre, Theatre503 and the National Youth Theatre. He is Chair of the Board of Theatre503, a Board Director of Spirit of 2012, a Trustee for Talawa Theatre Company and a Franco-British Young Leader. James Dacre became a Trustee of The Theatres Trust on 21 February 2022. 

    Stephanie Hall

    Appointed from 21 February 2025 to 20 February 2028

    Stephanie Hall is a barrister specialising in town and country planning at Kings Chambers. She lives with her family near Leeds but works across England and Wales. Stephanie represents both local authorities and developers at planning appeals and in the Courts. She has particular experience of large schemes and major infrastructure projects, sometimes involving theatres and very often involving works to or in the setting of listed buildings. Stephanie appears in the list of top-rated planning junior barristers, is a member of the Planning and Environment Bar Association, the Compulsory Purchase Association, the Parliamentary Bar Mess and the National Infrastructure Planning Association. Stephanie Hall became a Trustee on 21 February 2022.

    Remuneration and Governance Code

    The Chair and Trustees of the Theatres Trust are not remunerated. This appointment has been made in accordance with the Cabinet Office’s Governance Code on Public Appointments. The appointments process is regulated by the Commissioner for Public Appointments. Under the Code, any significant political activity undertaken by an appointee in the last five years must be declared. This is defined as including holding office, public speaking, making a recordable donation, or candidature for election. Dave Moutrey, James Dacre and Stephanie Hall have not declared any significant political activity.

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    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

    February 21, 2025
  • MIL-OSI United Kingdom: Liverpool Remembers as Hall Hosts Covid-19 Reflection Event

    Source: City of Liverpool

    The civic heart of Liverpool – and one of Britain’s most beloved buildings – is to become the city’s focal point for remembering the Covid-19 pandemic.

    To commemorate five years since the pandemic began, a national Covid-19 Day of Reflection will take place on Sunday, 9 March.

    In Liverpool, the Great Hall in St George’s Hall will be transformed into a special space for people to visit, remember those we lost, acknowledge and celebrate all the acts of kindness that took place across our communities and reflect on the profound impact of the pandemic on our everyday lives.

    The stunning venue will be beautifully illuminated by paper lanterns, representing the challenges people lived with throughout the pandemic – whether that be the loss of a loved one, isolation, economic hardship or mental health struggles, but also acknowledging the tremendous resilience shown throughout.

    A gentle and poignant soundscape will play, creating an ambience for quiet contemplation, and a Book of Commemoration will allow people to leave a message of reflection if they wish to do so.

    Members of the public are invited to reflect on their experiences and memories within the Grade I listed neo-classical masterpiece, situated off Lime Street, which will be open from 10am-4pm for this unique event.

    The event has been organised by Liverpool City Council and the lanterns will be supplied by local arts organisation, the Lantern Company.

    For more information, visit St George’s Hall website.

    Leader of Liverpool City Council, Councillor Liam Robinson, said:
    “Five years ago the world changed and we’re still feeling that ripple-effect today.

    “It was an incredibly tough time for Liverpool – case rates and deaths were high, businesses were under huge pressure to stay afloat and people were lonely and fearful of what could happen – it was a chapter of history which we will never forget.

    “But throughout this extraordinary crisis, the true spirit of Liverpool shone through, communities came together to help and support one another. This city stepped forward, blazing a trail for others to follow when it came to mass testing and paving the way for large cultural events to start welcoming people once again – things we should all be proud of.

    “On Sunday March, St George’s Hall will be a hub to reflect on this time of so many mixed emotions, acknowledging our city’s resilience, strength, and solidarity, and looking ahead to the future with hope.”

    Director of Public Health for Liverpool City Council, Matthew Ashton, said:  
    “Every single one of us has been affected by Covid. The intensity of our shared experience should never be underestimated – along with the disease itself, we had to juggle not being able to see our family and friends, social distancing, wearing face coverings, working from home, home schooling – all of which have impacted on our individual  mental health and wellbeing, and on the health and economic prosperity of our city overall.

    “Thankfully we are well into our recovery journey, and one of the most important lessons we have learnt, is the power of strong communities and partnerships. Throughout, stakeholders from across the city have worked closely with health professionals to ensure the best outcomes for our communities, and although the pandemic may be over, these partnerships will continue to provide support in this recovery phase.

    “Liverpool’s event is a way for us to process what has happened over the past five years and I encourage people to take some time out of their day, honour those we lost and celebrate all of our remarkable achievements during this unprecedented period.”

    MIL OSI United Kingdom –

    February 21, 2025
  • MIL-OSI Russia: Window into the Cretaceous Period

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    As part of Darwin Week at Novosibirsk State University, Associate Professor of the Department of Historical Geology and Paleontology Faculty of Geology and Geophysics of NSU, PhD Igor Kosenko spoke about the Jehol biota, a unique ecosystem of the Cretaceous period discovered in China at the end of the last century, and how this discovery changed scientists’ understanding of dinosaurs and their contemporaries.

    — Over the past century and a half, our views on dinosaurs have changed significantly more than once. At first, they were imagined as huge, clumsy reptiles; by the middle of the 20th century, thanks to new finds, it became clear that many of them walked on two legs. By the end of the last century, the majority of dinosaurs appeared to us as small, nimble predators that hunted large herbivorous dinosaurs in packs. And the latest discoveries have shown us that some dinosaurs were not just small, warm-blooded predators, but also covered in feathers, — said Igor Kosenko.

    The latest findings were made possible by discoveries related to the Jehol biota, an ecosystem of the Lower Cretaceous (between 133 and 120 million years ago) that left fossils in the Yixian Formation and Jiufotang Formation in northeastern China.

    — One of the most important properties of the Jehol biota was the fantastic preservation of the objects that make it up. And this allowed paleontologists to learn much better what the world was like 120 million years ago, — Igor Kosenko emphasized.

    Typical representatives of this ecosystem are the Lycoptera fish, the Eosestheria conchostracans (freshwater bivalve crustaceans) and the Ephemeropsis mayfly larvae. But much more interesting were the fossils, which had completely atypical (for paleontology at the end of the last century) details.

    The most fantastic find is probably the feathered dinosaur – Sinosauropteryx. In the same rocks, imprints of pterosaurs with hair-like structures were found. It turns out that these creatures were covered with fur. Another unique find is the imprints of feathered dinosaurs microraptors. In combination, these finds indicate that some kind of covering (hair or feathers) was typical of at least a number of dinosaurs. It is not for nothing that many scientists claim that they were closer to birds than to lizards.

    Thanks to the amazing preservation of fossils, scientists were able to learn much more not only about the appearance, but also the habits of dinosaurs. The discovery of skeletons of a dinosaur and a mammal fighting with each other confirmed that serious competition had already begun between these types of animals at this time. The location of other skeletons showed that in some dinosaur species, adults could guard flocks of cubs, and, judging by the number of such groups, these “caregivers” were grazing not only their own offspring, and this already speaks of a rather complex group hierarchy.

    Dinosaurs are not the only finds of paleontologists. In particular, the Jehol biota includes finds of some of the first angiosperms, which today are one of the most numerous groups of higher plants. But this is now, and initially the planet was dominated by gymnosperms – conifers and ferns. Fossils found in China made it possible to more accurately determine the boundaries of the beginning of the era of angiosperms, which then quickly took the leading positions. And their very first representatives grew in water bodies and were somewhat akin to water lilies.

    Recorded fossil finds belonging to the Jehol biota are not limited to the territory of modern China. The northernmost of them were discovered in Transbaikalia.

    — There is a famous joke about Russia being the homeland of elephants. With elephants, of course, this is debatable. But the most ancient fossils of this ecosystem were recorded here, and the first finds were also made not in China, but here, by the Russian scientist Middendorf before the revolution. He was the first to describe the location of the fossil fauna “Turga”, which is now also known as the “Middendorf outcrop”. Excavations there continue and regularly bring a variety of interesting finds, — Igor Kosenko emphasized.

    Thus, in the Kulinda valley in the Transbaikal region, the remains of another feathered dinosaur were found, called “Kulindadromeus zabaikalicus”. Despite its feathers, it could not fly, and is considered the most ancient non-avian feathered dinosaur to date.

    Scientists from the A.A. Trofimuk Institute of Petroleum Geology and Geophysics of the Siberian Branch of the Russian Academy of Sciences managed to clarify the age of the Turginskaya suite in the Middendorf outcrop, which had previously been the subject of debate in the scientific world. Fossil pollen of flowering plants was found in the samples, which made it possible to date them with a high degree of accuracy. According to their estimates, the age of the fossils may be about 125 million years, which made it possible to speak of these finds as the most ancient part of the biota.

    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.

    MIL OSI Russia News –

    February 21, 2025
  • MIL-OSI: Donegal Group Inc. Announces Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    MARIETTA, Pa., Feb. 20, 2025 (GLOBE NEWSWIRE) — Donegal Group Inc. (NASDAQ:DGICA) and (NASDAQ:DGICB) today reported its financial results for the fourth quarter and full year ended December 31, 2024.

    Significant items for fourth quarter of 2024 (all comparisons to fourth quarter of 2023):

    • Net premiums earned increased 4.6% to $236.6 million
    • Combined ratio of 92.9%, compared to 106.8%
    • Net income of $24.0 million, or 70 cents per diluted Class A share, compared to net loss of $2.0 million, or 6 cents per Class A share
    • Net investment gains (after tax) of $0.2 million, or 1 cent per diluted Class A share, compared to $1.8 million, or 5 cents per Class A share, are included in net income (loss)

    Significant items for full year of 2024 (all comparisons to full year of 2023):

    • Net premiums earned increased 6.2% to $936.7 million
    • Combined ratio of 98.6%, compared to 104.4%
    • Net income of $50.9 million, or $1.53 per diluted Class A share, compared to $4.4 million, or 14 cents per diluted Class A share
    • Net investment gains (after tax) of $3.9 million, or 12 cents per diluted Class A share, compared to $2.5 million, or 8 cents per diluted Class A share, are included in net income
    • Book value per share of $15.36 at December 31, 2024, compared to $14.39 at year-end 2023

    Financial Summary

      Three Months Ended December 31,     Year Ended December 31,  
      2024   2023   % Change     2024   2023   % Change  
      (dollars in thousands, except per share amounts)    
                               
    Income Statement Data                      
    Net premiums earned $   236,635   $   226,185   4.6 %   $   936,651   $   882,071   6.2 %
    Investment income, net 12,050   10,710   12.5     44,918   40,853   10.0  
    Net investment gains 256   2,243   -88.6     4,981   3,173   57.0  
    Total revenues 249,954   239,468   4.4     989,605   927,338   6.7  
    Net income (loss) 24,003   (1,970)   NM2     50,862   4,426   NM  
    Non-GAAP operating income (loss)1 23,801   (3,742)   NM     46,927   1,919   NM  
    Annualized return on average equity 18.1%   -1.7%   19.8 pts     9.9%   0.9%   9.0 pts  
                               
    Per Share Data                        
    Net income (loss) – Class A (diluted) $         0.70   $        (0.06)   NM     $         1.53   $         0.14   NM  
    Net income (loss) – Class B 0.64   (0.06)   NM     1.38   0.11   NM  
    Non-GAAP operating income (loss) – Class A (diluted) 0.69   (0.11)   NM     1.41   0.06   NM  
    Non-GAAP operating income (loss) – Class B 0.63   (0.11)   NM     1.27   0.04   NM  
    Book value 15.36   14.39   6.7 %   15.36   14.39   6.7 %
                               

    ¹The “Definitions of Non-GAAP Financial Measures” section of this release defines and reconciles data that we prepare on an accounting basis other than U.S. generally accepted accounting principles (“GAAP”).
    ²Not meaningful.

    Management Commentary

    Kevin G. Burke, President and Chief Executive Officer of Donegal Group Inc., stated, “We concluded 2024 with strong performance in the fourth quarter that we believe reflected our unrelenting focus in recent years on execution, whether on strategic initiatives to broaden our market capabilities or on profit-improvement measures to enhance our operating performance. As we move into 2025, we are striving to further enhance our performance while also pursuing intentional, strategic premium growth.

    “For the fourth quarter of 2024, our loss ratio improved substantially compared to the prior-year quarter, as premium rate increases contributed to higher net premiums earned and numerous underwriting initiatives we implemented in recent years resulted in lower claim activity. Our weather-related loss ratio compared favorably to both the prior-year quarter and our previous five-year average for the fourth quarter of the year. Net development of reserves for claims incurred in prior years had virtually no effect on the loss ratio for the fourth quarter of 2024 or 2023.

    “We effectively mitigated the higher costs associated with our major systems modernization project and higher underwriting-based incentive costs by implementing targeted expense-reduction strategies across our operations. We remain committed to refining the efficiency of our insurance operations, leveraging our substantial investments in technology, data and analytics, to maintain a sustainable expense ratio.”

    Mr. Burke concluded, “As the insurance industry landscape continues to evolve, our dedicated team will maintain focus on the effective execution of the strategies we believe will lead to successful achievement of our long-term objectives. We will continue to implement premium rate increases as needed to maintain rate adequacy and achieve targeted risk-adjusted returns. We are also actively pursuing new business opportunities across our regional footprint, concentrating primarily on high quality new commercial middle market and small business accounts, while also seeking strategic new business growth within our personal lines segment. We have refined our state-specific strategies and action plans to meet current market challenges and opportunities. We believe that the successful execution of those actions will allow us to further enhance underwriting performance, drive sustainable measured growth and strengthen our competitive position with our independent agents, ultimately increasing the value of our stockholders’ investment in Donegal Group Inc.”

    Insurance Operations

    Donegal Group is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty lines of insurance in three Mid-Atlantic states (Delaware, Maryland and Pennsylvania), five Southern states (Georgia, North Carolina, South Carolina, Tennessee and Virginia), eight Midwestern states (Illinois, Indiana, Iowa, Michigan, Nebraska, Ohio, South Dakota and Wisconsin) and five Southwestern states (Arizona, Colorado, New Mexico, Texas and Utah). Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group conduct business together as the Donegal Insurance Group.

      Three Months Ended December 31,     Year Ended December 31,  
      2024   2023   % Change     2024   2023   % Change  
      (dollars in thousands)    
                               
    Net Premiums Earned                        
    Commercial lines $    136,701   $    133,602   2.3 %   $    539,683   $    533,029   1.2 %
    Personal lines        99,934          92,583   7.9          396,968        349,042   13.7  
    Total net premiums earned $    236,635   $    226,185   4.6 %   $    936,651   $    882,071   6.2 %
                               
    Net Premiums Written                      
    Commercial lines:                        
    Automobile $      42,922   $      39,888   7.6 %   $    184,989   $    174,741   5.9 %
    Workers’ compensation        20,934          22,283   -6.1          103,533        107,598   -3.8  
    Commercial multi-peril        50,431          48,010   5.0          213,959        195,632   9.4  
    Other          9,790          10,544   -7.2            45,439          50,458   -9.9  
    Total commercial lines      124,077        120,725   2.8          547,920        528,429   3.7  
    Personal lines:                        
    Automobile        54,078          54,609   -1.0          243,036        215,957   12.5  
    Homeowners        30,958          34,653   -10.7          140,613        139,688   0.7  
    Other          2,329            2,706   -13.9            10,712          11,623   -7.8  
    Total personal lines        87,365          91,968   -5.0          394,361        367,268   7.4  
    Total net premiums written $    211,442   $    212,693   -0.6%     $    942,281   $    895,697   5.2 %
                               


    Net Premiums Written

    The 0.6% decrease in net premiums written¹ for the fourth quarter of 2024 compared to the fourth quarter of 2023, as shown in the table above, represents the combination of 2.8% growth in commercial lines net premiums written and a 5.0% decrease in personal lines net premiums written. The $1.3 million decrease in net premiums written for the fourth quarter of 2024 compared to the fourth quarter of 2023 included:

    • Commercial Lines: $3.3 million increase that we attribute primarily to solid premium retention and a continuation of renewal premium increases in lines other than workers’ compensation, offset partially by planned attrition in classes of business we have targeted for profit improvement.
    • Personal Lines: $4.6 million decrease that we attribute primarily to planned attrition due to non-renewal actions and lower new business writings, offset partially by a continuation of renewal premium rate increases and solid policy retention.

    The $46.6 million increase in net premiums written for the full year of 2024 compared to the full year of 2023 included:

    • Commercial Lines: $19.5 million increase that we attribute primarily to strong premium retention and a continuation of renewal premium increases in lines other than workers’ compensation, offset partially by planned attrition in states we exited or classes of business we have targeted for profit improvement.
    • Personal Lines: $27.1 million increase that we attribute primarily to a continuation of renewal premium rate increases and solid policy retention, offset partially by planned attrition due to non-renewal actions and lower new business writings.

    Underwriting Performance

    We evaluate the performance of our commercial lines and personal lines segments primarily based upon the underwriting results of our insurance subsidiaries as determined under statutory accounting practices. The following table presents comparative details with respect to the GAAP and statutory combined ratios¹ for the three months and full years ended December 31, 2024 and 2023:

      Three Months Ended     Year Ended  
      December 31,     December 31,  
      2024     2023     2024     2023  
                           
    GAAP Combined Ratios (Total Lines)                
    Loss ratio – core losses 52.3 %   61.8 %   54.0 %   57.5 %
    Loss ratio – weather-related losses 3.3     5.9     7.2     8.3  
    Loss ratio – large fire losses 4.0     4.8     4.9     5.2  
    Loss ratio – net prior-year reserve development -0.2     -0.4     -1.6     -1.9  
    Loss ratio 59.8     72.1     64.5     69.1  
    Expense ratio 32.8     34.1     33.7     34.7  
    Dividend ratio 0.3     0.6     0.4     0.6  
    Combined ratio 92.9 %   106.8 %   98.6 %   104.4 %
                           
    Statutory Combined Ratios                  
    Commercial lines:                    
    Automobile 115.7 %   104.8 %   102.6 %   97.3 %
    Workers’ compensation 105.6     107.9     104.4     96.6  
    Commercial multi-peril 79.4     107.8     95.0     112.3  
    Other 84.7     95.0     80.0     85.5  
    Total commercial lines 97.3     105.8     98.2     101.6  
    Personal lines:                    
    Automobile 96.5     119.7     97.4     109.7  
    Homeowners 76.2     101.3     99.6     108.6  
    Other 106.3     59.2     99.5     75.8  
    Total personal lines 89.5     111.1     98.3     108.2  
    Total lines 94.0 %   107.8 %   98.3 %   104.2 %
                           

     
    Loss Ratio – Fourth Quarter

    For the fourth quarter of 2024, the loss ratio decreased to 59.8%, compared to 72.1% for the fourth quarter of 2023. The core loss ratio, which excludes weather-related losses, large fire losses and net development of reserves for losses incurred in prior accident years, was 52.3% for the fourth quarter of 2024, which improved significantly compared to 61.8% for the fourth quarter of 2023. For the commercial lines segment, the core loss ratio of 55.2% for the fourth quarter of 2024 improved from 59.6% for the fourth quarter of 2023, primarily as the result of ongoing premium rate increases in all lines except workers’ compensation and reduced exposures in underperforming states and classes of business. For the personal lines segment, the core loss ratio of 48.4% for the fourth quarter of 2024 decreased significantly from 65.1% for the fourth quarter of 2023, due largely to the favorable impact of premium rate increases on net premiums earned for that segment.

    Weather-related losses of $7.7 million, or 3.3 percentage points of the loss ratio, for the fourth quarter of 2024 decreased from $13.4 million, or 5.9 percentage points of the loss ratio, for the fourth quarter of 2023. Our insurance subsidiaries did not incur significant losses from any single weather event during the fourth quarters of 2024 or 2023. The impact of weather-related loss activity to the loss ratio for the fourth quarter of 2024 was lower than our previous five-year average of 5.2 percentage points for fourth quarter weather-related losses.

    Large fire losses, which we define as individual fire losses in excess of $50,000, were $9.5 million, or 4.0 percentage points of the loss ratio, for the fourth quarter of 2024, compared to $10.8 million, or 4.8 percentage points of the loss ratio, for the fourth quarter of 2023. The modest decrease primarily reflected lower average severity in homeowner fire losses.

    Net development of reserves for losses incurred in prior accident years had virtually no impact to the loss ratio for the fourth quarter of 2024 or 2023. For the fourth quarter of 2024, our insurance subsidiaries experienced unfavorable development primarily in personal automobile and commercial automobile losses that was offset by favorable development in commercial multi-peril losses and other lines of business. For the fourth quarter of 2023, our insurance subsidiaries experienced favorable development in personal automobile, workers’ compensation, homeowners and commercial automobile losses, offset partially by unfavorable development in commercial multi-peril and other commercial losses.

    Loss Ratio – Full Year

    For the full year of 2024, the loss ratio decreased to 64.5%, compared to 69.1% for the full year of 2023. The 2024 core loss ratio decreased by 3.5 percentage points to 54.0% from 57.5% for 2023. For the commercial lines segment, the core loss ratio of 54.4% for 2024 improved from 56.5% for 2023, primarily as the result of ongoing premium rate increases in all lines except workers’ compensation and reduced exposures in underperforming states and classes of business. For the personal lines segment, the core loss ratio of 53.5% for 2024 decreased from 59.1% in 2023, due largely to the favorable impact of premium rate increases on net premiums earned for that segment.

    Weather-related losses for the full year of 2024 were $67.7 million, or 7.2 percentage points of the loss ratio, compared to $72.9 million, or 8.3 percentage points of the loss ratio, for the full year of 2023. The loss ratio impact of weather-related losses for the full year of 2024 was in line with the previous five-year average of 7.0 percentage points of the loss ratio.

    Large fire losses were $45.8 million, or 4.9 percentage points of the loss ratio, for the full year of 2024, relatively in line with $45.4 million, or 5.2 percentage points of the loss ratio, for the full year of 2023.

    Net favorable development of reserves for losses incurred in prior accident years of $15.0 million reduced the loss ratio for the full year of 2024 by 1.6 percentage points. For the full year of 2024, our insurance subsidiaries experienced favorable development in losses primarily in the commercial multi-peril, personal automobile and homeowners lines of business, offset partially by unfavorable development in the workers’ compensation and commercial automobile lines of business. Net favorable development of reserves for losses incurred in prior accident years of $16.7 million reduced the loss ratio for the full year of 2023 by 1.9 percentage points. For the full year of 2023, our insurance subsidiaries experienced favorable development in losses primarily in the commercial automobile, personal automobile, workers’ compensation and homeowners lines of business.

    Expense Ratio

    The expense ratio was 32.8% for the fourth quarter of 2024, compared to 34.1% for the fourth quarter of 2023. The expense ratio was 33.7% for the full year of 2024, compared to 34.7% for the full year of 2023. The decrease in the expense ratios for the fourth quarter and full year of 2024 primarily reflected the impacts of various expense reduction initiatives, including agency incentive program revisions, commission schedule adjustments, targeted staffing reductions, and hiring restrictions for open employment positions, among others. These impacts were offset partially by an increase in underwriting-based incentive costs as well as higher technology systems-related expenses that were primarily due to increased costs related to our ongoing systems modernization project, a portion of which Donegal Mutual Insurance Company allocates to our insurance subsidiaries. We expect the impact from allocated costs from Donegal Mutual Insurance Company to our insurance subsidiaries related to the ongoing systems modernization project peaked at approximately 1.3 percentage points of the expense ratio for the full year of 2024 and will subside gradually in 2025 and subsequent years.

    Investment Operations

    Donegal Group’s investment strategy is to generate an appropriate amount of after-tax income on its invested assets while minimizing credit risk through investment in high-quality securities. As a result, we had invested 95.6% of our consolidated investment portfolio in diversified, highly rated and marketable fixed-maturity securities at December 31, 2024.

      December 31, 2024     December 31, 2023  
      Amount   %     Amount   %  
      (dollars in thousands)    
    Fixed maturities, at carrying value:                  
    U.S. Treasury securities and obligations of U.S.                  
    government corporations and agencies $    170,423   12.3 %   $    176,991   13.3 %
    Obligations of states and political subdivisions      409,560   29.5          415,280   31.3  
    Corporate securities      440,552   31.8          399,640   30.1  
    Mortgage-backed securities      304,459   22.0          278,260   21.0  
    Allowance for expected credit losses         (1,388 ) -0.1             (1,326 ) -0.1  
    Total fixed maturities   1,323,606   95.5       1,268,845   95.6  
    Equity securities, at fair value        36,808   2.7            25,903   2.0  
    Short-term investments, at cost        24,558   1.8            32,306   2.4  
    Total investments $ 1,384,972   100.0 %   $ 1,327,054   100.0 %
                       
    Average investment yield 3.3%         3.1%      
    Average tax-equivalent investment yield 3.4%         3.2%      
    Average fixed-maturity duration (years)              5.2                      4.3      
                       

    Net investment income of $12.1 million for the fourth quarter of 2024 increased 12.5% compared to $10.7 million in net investment income for the fourth quarter of 2023, due primarily to higher average invested assets and an increase in the average investment yield compared to the prior-year fourth quarter. Net investment income of $44.9 million for the full year of 2024 increased 10.0% compared to the full year of 2023, due primarily to higher average invested assets and an increase in the average investment yield compared to the prior year.

    Net investment gains were minimal for the fourth quarter of 2024, compared to $2.2 million for the fourth quarter of 2023. We attribute the gains to the quarterly increases in the market value of the equity securities held at the end of the respective periods.

    Net investment gains were $5.0 million for the full year of 2024, compared to $3.2 million for the full year of 2023. We attribute the gains to the change in the market value of the equity securities held at the end of the respective periods.

    Our book value per share was $15.36 at December 31, 2024, compared to $14.39 at December 31, 2023, as increases from net income and unrealized gains within our available-for-sale fixed-maturity portfolio during 2024 were partially offset by the dividends we declared during the year.

    Definitions of Non-GAAP Financial Measures

    We prepare our consolidated financial statements on the basis of GAAP. Our insurance subsidiaries also prepare financial statements based on statutory accounting principles state insurance regulators prescribe or permit (“SAP”). In addition to using GAAP-based performance measurements, we also utilize certain non-GAAP financial measures that we believe provide value in managing our business and for comparison to the financial results of our peers. These non-GAAP measures are net premiums written, operating income or loss and statutory combined ratio.

    Net premiums written and operating income or loss are non-GAAP financial measures investors in insurance companies commonly use. We define net premiums written as the amount of full-term premiums our insurance subsidiaries record for policies effective within a given period less premiums our insurance subsidiaries cede to reinsurers. We define operating income or loss as net income or loss excluding after-tax net investment gains or losses, after-tax restructuring charges and other significant non-recurring items. Because our calculation of operating income or loss may differ from similar measures other companies use, investors should exercise caution when comparing our measure of operating income or loss to the measure of other companies.

    The following table provides a reconciliation of net premiums earned to net premiums written for the periods indicated:

      Three Months Ended December 31,     Year Ended December 31,  
      2024   2023   % Change     2024   2023   % Change  
      (dollars in thousands)    
                               
    Reconciliation of Net Premiums                          
    Earned to Net Premiums Written                          
    Net premiums earned $       236,635   $     226,185   4.6 %   $     936,651   $     882,071   6.2 %
    Change in net unearned premiums          (25,193 )         (13,492 )  86.7               5,630           13,626   -58.7  
    Net premiums written $       211,442   $     212,693   -0.6 %    $     942,281   $     895,697   5.2 %
                               
                               

    The following table provides a reconciliation of net income (loss) to operating income (loss) for the periods indicated:

      Three Months Ended December 31,      Year Ended December 31,  
      2024   2023     % Change     2024   2023   % Change  
      (dollars in thousands, except per share amounts)    
                                 
    Reconciliation of Net Income (Loss)                            
    to Non-GAAP Operating Income (Loss)                            
    Net income (loss) $ 24,003   $ (1,970 )   NM     $ 50,862   $ 4,426   NM  
    Investment gains (after tax)   (202 )   (1,772 )   -88.6 %     (3,935 )   (2,507 ) 57.0 %
    Non-GAAP operating income (loss) $ 23,801   $ (3,742 )   NM     $ 46,927   $ 1,919   NM  
                                 
    Per Share Reconciliation of Net Income (Loss)                            
    to Non-GAAP Operating Income (Loss)                            
    Net income (loss) – Class A (diluted) $ 0.70   $ (0.06 )   NM     $ 1.53   $ 0.14   NM  
    Investment gains (after tax)   (0.01 )   (0.05 )   -80.0 %     (0.12 )   (0.08 ) 50.0 %
    Non-GAAP operating income (loss) – Class A $ 0.69   $ (0.11 )   NM     $ 1.41   $ 0.06   NM  
                                 
    Net income (loss) – Class B $ 0.64   $ (0.06 )   NM     $ 1.38   $ 0.11   NM  
    Investment gains (after tax)   (0.01 )   (0.05 )   -80.0 %     (0.11 )   (0.07 ) 57.1 %
    Non-GAAP operating income (loss) – Class B $ 0.63   $ (0.11 )   NM     $ 1.27   $ 0.04   NM  
                                 

    The statutory combined ratio is a standard non-GAAP measurement of underwriting profitability that is based upon amounts determined under SAP. The statutory combined ratio is the sum of:

    • the statutory loss ratio, which is the ratio of calendar-year incurred losses and loss expenses, excluding anticipated salvage and subrogation recoveries, to premiums earned;
    • the statutory expense ratio, which is the ratio of expenses incurred for net commissions, premium taxes and underwriting expenses to premiums written; and
    • the statutory dividend ratio, which is the ratio of dividends to holders of workers’ compensation policies to premiums earned.

    The statutory combined ratio does not reflect investment income, federal income taxes or other non-operating income or expense. A statutory combined ratio of less than 100% generally indicates underwriting profitability.

    Dividend Information

    On December 19, 2024, we declared regular quarterly cash dividends of $0.1725 per share for our Class A common stock and $0.155 per share for our Class B common stock, which we paid on February 18, 2025 to stockholders of record as of the close of business on February 4, 2025.

    Pre-Recorded Webcast

    At approximately 8:30 am EDT on Thursday, February 20, 2025, we will make available in the Investors section of our website a pre-recorded audio webcast featuring management commentary on our quarterly and annual results and general business updates. You may listen to the pre-recorded webcast by accessing the link on our website at http://investors.donegalgroup.com. A supplemental investor presentation is also available via our website.

    About the Company

    Donegal Group Inc. is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty lines of insurance in certain Mid-Atlantic, Midwestern, Southern and Southwestern states. Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group Inc. conduct business together as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent).

    The Class A common stock and Class B common stock of Donegal Group Inc. trade on the NASDAQ Global Select Market under the symbols DGICA and DGICB, respectively. We are focused on several primary strategies, including achieving sustained excellent financial performance, strategically modernizing our operations and processes to transform our business, capitalizing on opportunities to grow profitably and providing superior experiences to our agents, policyholders and employees.

    Safe Harbor

    We base all statements contained in this release that are not historic facts on our current expectations. Such statements are forward-looking in nature (as defined in the Private Securities Litigation Reform Act of 1995) and necessarily involve risks and uncertainties. Forward-looking statements we make may be identified by our use of words such as “will,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “seek,” “estimate” and similar expressions. Our actual results could vary materially from our forward-looking statements. The factors that could cause our actual results to vary materially from the forward-looking statements we have previously made include, but are not limited to, adverse litigation and other trends that could increase our loss costs (including social inflation, labor shortages and escalating medical, automobile and property repair costs), adverse and catastrophic weather events (including from changing climate conditions), our ability to maintain profitable operations (including our ability to underwrite risks effectively and charge adequate premium rates), the adequacy of the loss and loss expense reserves of our insurance subsidiaries, the availability and successful operation of the information technology systems our insurance subsidiaries utilize, the successful development of new information technology systems to allow our insurance subsidiaries to compete effectively, business and economic conditions in the areas in which we and our insurance subsidiaries operate, interest rates, competition from various insurance and other financial businesses, terrorism, the availability and cost of reinsurance, legal and judicial developments (including those related to COVID-19 business interruption coverage exclusions), changes in regulatory requirements, our ability to attract and retain independent insurance agents, changes in our A.M. Best rating and the other risks that we describe from time to time in our filings with the Securities and Exchange Commission. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    Investor Relations Contacts

    Karin Daly, Vice President, The Equity Group Inc.
    Phone: (212) 836-9623
    E-mail: kdaly@equityny.com

    Jeffrey D. Miller, Executive Vice President & Chief Financial Officer
    Phone: (717) 426-1931
    E-mail: investors@donegalgroup.com

    Financial Supplement

    Donegal Group Inc.  
    Consolidated Statements of Income (Loss)  
    (unaudited; in thousands, except share data)  
             
      Quarter Ended December 31,  
      2024   2023  
             
    Net premiums earned $ 236,635   $ 226,185  
    Investment income, net of expenses 12,050   10,710  
    Net investment gains 256   2,243  
    Lease income 77   85  
    Installment payment fees 936   245  
    Total revenues 249,954   239,468  
             
    Net losses and loss expenses 141,435   163,154  
    Amortization of deferred acquisition costs 39,853   39,149  
    Other underwriting expenses 37,649   38,032  
    Policyholder dividends 826   1,225  
    Interest 269   156  
    Other expenses, net 255   233  
    Total expenses 220,287   241,949  
             
    Income (loss) before income tax expense (benefit) 29,667   (2,481 )
    Income tax expense (benefit) 5,664   (511 )
             
    Net income (loss) $ 24,003   $ (1,970 )
             
    Net income (loss) per common share:        
    Class A – basic $ 0.71   $ (0.06 )
    Class A – diluted $ 0.70   $ (0.24 )
    Class B – basic and diluted $ 0.64   $ (0.06 )
             
    Supplementary Financial Analysts’ Data        
             
    Weighted-average number of shares        
    outstanding:        
    Class A – basic 28,979,432   27,702,646  
    Class A – diluted 29,224,696   27,726,318  
    Class B – basic and diluted 5,576,775   5,576,775  
             
    Net premiums written $ 211,442   $ 212,693  
             
    Book value per common share        
    at end of period $ 15.36   $ 14.39  
             
    Donegal Group Inc.
    Consolidated Statements of Income
    (unaudited; in thousands, except share data)
           
      Year Ended December 31,
      2024   2023
           
    Net premiums earned $          936,651   $          882,071
    Investment income, net of expenses              44,918                40,853
    Net investment gains                4,981                  3,173
    Lease income                   314                     347
    Installment payment fees                2,741                     894
    Total revenues            989,605              927,338
           
    Net losses and loss expenses            604,118              609,178
    Amortization of deferred acquisition costs            160,311              154,214
    Other underwriting expenses            155,254              151,748
    Policyholder dividends                4,073                  5,313
    Interest                   946                     620
    Other expenses, net                2,564                  1,201
    Total expenses            927,266              922,274
           
    Income before income tax expense              62,339                  5,064
    Income tax expense              11,477                     638
           
    Net income $            50,862   $              4,426
           
    Net income per common share:      
    Class A – basic and diluted $                1.53   $                0.14
    Class B – basic and diluted $                1.38   $                0.11
           
    Supplementary Financial Analysts’ Data      
           
    Weighted-average number of shares      
    outstanding:      
    Class A – basic       28,155,276         27,469,250
    Class A – diluted       28,245,356         27,562,785
    Class B – basic and diluted         5,576,775           5,576,775
           
    Net premiums written $          942,281   $          895,697
           
    Book value per common share      
    at end of period $              15.36   $              14.39
           
    Donegal Group Inc.
    Consolidated Balance Sheets
    (in thousands)
               
          December 31,   December 31,
          2024   2023
          (unaudited)    
               
    ASSETS      
    Investments:      
      Fixed maturities:      
        Held to maturity, at amortized cost $ 705,714   $ 679,497
        Available for sale, at fair value 617,892   589,348
      Equity securities, at fair value 36,808   25,903
      Short-term investments, at cost 24,558   32,306
        Total investments 1,384,972   1,327,054
    Cash   52,926   23,792
    Premiums receivable 181,107   179,592
    Reinsurance receivable 420,742   441,431
    Deferred policy acquisition costs 73,347   75,043
    Prepaid reinsurance premiums 176,162   168,724
    Other assets 46,776   50,658
        Total assets $ 2,336,032   $ 2,266,294
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    Liabilities:        
      Losses and loss expenses $ 1,120,985   $ 1,126,157
      Unearned premiums 612,476   599,411
      Accrued expenses 2,917   3,947
      Borrowings under lines of credit 35,000   35,000
      Other liabilities 18,878   22,034
        Total liabilities 1,790,256   1,786,549
    Stockholders’ equity:      
      Class A common stock 329   308
      Class B common stock 56   56
      Additional paid-in capital 369,680   335,694
      Accumulated other comprehensive loss (28,200)   (32,882)
      Retained earnings 245,137   217,795
      Treasury stock (41,226)   (41,226)
        Total stockholders’ equity 545,776   479,745
        Total liabilities and stockholders’ equity $ 2,336,032   $ 2,266,294
               

     

    The MIL Network –

    February 21, 2025
  • MIL-OSI Video: Open Forum: Protecting People from a Changing Climate | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Climate change disproportionately displaces vulnerable populations with limited resources to adapt or relocate. Rising sea levels, extreme weather and environmental degradation force millions from their homes, worsening poverty and instability.

    How can communities mitigate climate impacts and build resilience to climate change?

    Speakers: William Marshall, Fatou Jeng, M. Sanjayan, Rosmarie Wydler-Wälti, Alicia Bárcena Ibarra, Johanna Hoffman

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=edXk8TYrKqQ

    MIL OSI Video –

    February 21, 2025
  • MIL-OSI USA: Timmons Announces Hearing on Trump Administration’s Plans to Restore U.S. Global Leadership

    Source: United States House of Representatives – Congressman William Timmons (SC-04)

    Subcommittee on Military and Foreign Affairs Chairman William Timmons (R-S.C.) announced the subcommittee will hold its first hearing on “Emerging Global Threats: Putting America’s National Security First.” This hearing will examine how the Trump Administration is rebuilding the American military and foreign policy establishment to restore American security, safety, and prosperity at home and facilitate peace and stability abroad.

    “For four years we watched as the Biden Administration fumbled foreign diplomacy and instituted policy after policy which eroded America’s leadership on the world stage. It is imperative for the safety of Americans at home and abroad that the United States achieves peace through strength and re-centers our foreign policy on the advancement of U.S. interests. Under the leadership of President Trump, we are already witnessing the resurgence of America’s leadership globally. This hearing is a great opportunity to learn from experts what the U.S. can do to fully restore America’s ability to combat threats from the CCP and return trust to the American people that our foreign policy will keep them safe,” said Subcommittee Chairman Timmons.

    WHAT: Hearing titled “Emerging Global Threats: Putting America’s National Security First”

    DATE: Tuesday, February 25, 2025

    TIME: 10:00 a.m. ET

    LOCATION: 2247 Rayburn House Office Building

    WITNESSES:

    Dr. Meaghan Mobbs, Director, Center for the American Safety and Security, Independent Women’s Forum

    Mr. Brent Sadler, Senior Research Fellow, Naval Warfare and Advanced Technology, The Heritage Foundation

    Dr. Jacob Olidort, Senior Policy Advisory, Center for American Security, America First Policy Institute

    The hearing will be open to the public and press and will be livestreamed online at https://oversight.house.gov/.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Speaker Johnson Delivers Keynote Address to Alliance for Responsible Citizenship Conference

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — Yesterday, Speaker Johnson delivered the keynote address at the 2025 Alliance for Responsible Citizenship (ARC) global conference in London, England. Appearing remotely to the more than 4,000-person audience, Speaker Johnson warned against the threat of “soft despotism,” and encouraged leaders to “be prepared to steer their aims towards policies and mediating institutions that reduce government dominion over our lives and advance prosperity.”

    “The only way to reverse this trend into further technocratic tyranny is to recommit to our foundational principles and live them out. What made the West, and what made our nations great, must now guide us once again,” Speaker Johnson said.

    Watch Speaker Johnson’s full address here.

    Below are excerpts from the address:

    “Here in America, as you are all seeing, we’re in the midst of a great change. In our national election a few months ago, our people delivered truly a mandate to make our country great again and to restore common sense in our public policy. Here and elsewhere, the radical big government progressives pushed that pendulum too far and too aggressively to the left, and the people rose up and said, enough. And now that pendulum is beginning to swing back to the center, and we’ve been given a once-in-a-generation opportunity to demonstrate now to our nation and the new demographics of voters who have come into our Republican Party for the first time, that it really is our conservative policies that lead to human flourishing, because they’re better for individuals and families and communities, individual states, and our nation as a whole,” Speaker Johnson said. 

    “In America, we still believe in peace through strength, and we still understand our role in the world. A strong America is good for free people everywhere because it helps to keep the terrorists and the tyrants at bay. But to maintain our strength and leadership, our foreign policy must be centered on our own national interest. It’s a matter of common sense for each of our countries to acknowledge that we must each take care of our own houses before we help take care of the neighborhood,” Speaker Johnson said. “As we seek to make America safer, stronger, and more prosperous, we will encourage all our friends and allies to do the same in and for their own countries. The survival of the West will depend upon that. And this is how we will turn the tides, by refocusing and marshalling our many shared interests toward our own national interest.”

    “This trend is reflected in political apathy and the growing tendency of people to simply submit to governments whose laws have become so offensively intrusive and whose centers of power feel distant and inaccessible. If there is nothing to fight for, then why fight at all, Speaker Johnson said. ”This is the vision of the left, for the people to feel so powerless that they give in and just accept their fate as mindless vassals under the safe protection of the state. And the only way to reverse this trend into further technocratic tyranny is to recommit to our foundational principles and live them out. What made the West and what made our nations great must now guide us once again.

    Below is the full transcript of Speaker Johnson’s address as delivered: 

    Thank you, my dear friend, the Baroness. Good morning. I wish I could be there with all of you in person, and I am truly sorry that I’ve been prevented from making the trip now for the second year in a row. I was unexpectedly elected Speaker of the House just days before the inaugural ARC Conference in October 2023, and I had to send my last-minute regrets. And now, just days before this second conference that I had so much been looking forward to, I found myself once again with late breaking developments in Congress, this time involving our budget and government funding that simply doesn’t allow me to leave the country. But there’s no place I’d rather be than there with you this week as we had long planned, but I’m glad to at least have this opportunity to join you remotely. 

    We find ourselves in a very unique and consequential moment in history here in America and throughout the West. And I believe the timing of the ARC Conference is truly providential. I joined the ARC Advisory Board two years ago because I was so intrigued by the idea of bringing together so many thought leaders and change makers from around the world to, as we determined, ‘shape a hope-filled vision for the future.’ My friends, there really is great reason for our hope. 

    Here in America, as you are all seeing, we’re in the midst of a great change. In our national election a few months ago, our people delivered truly a mandate to make our country great again and to restore common sense in our public policy. Here and elsewhere, the radical big government progressives pushed that pendulum too far and too aggressively to the left, and the people rose up and said, enough. And now that pendulum is beginning to swing back to the center, and we’ve been given a once-in-a-generation opportunity to demonstrate now to our nation and the new demographics of voters who have come into our Republican Party for the first time, that it really is our conservative policies that lead to human flourishing, because they’re better for individuals and families and communities, individual states, and our nation as a whole.

    In recent decades, our government had become too large, too inefficient, and too powerful. And in too many cases, it had also been weaponized and corrupted. That is precisely what the framers of our Constitution feared and what political philosophers and historians over the centuries have warned against. Almost two centuries ago, Alexei de Tocqueville wrote of big government: “After having thus successfully taken each member of the community in its powerful grasp and fashioned him at will, the supreme power then extends its arm over the whole community. It covers the surface of society with a network of small, complicated rules, minute and uniform, which the most original minds and the most energetic characters cannot penetrate to rise above the crowd.”

    De Tocqueville noted that “such a power does not tyrannize, but it compresses, extinguishes, and stupefies a people till each nation is reduced to nothing better than a flock of timid and industrious animals of which the government is the shepherd.” Tocqueville called it soft despotism, a condition in which citizens voluntarily and gradually just surrender their rights and independence to the government, lured by the promise of security and stability. This kind of despotism doesn’t arrive through violence or open tyranny. Instead, it comes quietly, insidiously, through comfort and convenience. 

    Tocqueville warned of a future where citizens would become passive spectators in their own democracy, willful stewards of their carefully managed decline. Soft despots don’t break down your door and confiscate your weapons, they don’t arrest you in public for criticizing the government, and they don’t station soldiers on street corners to ensure your compliance. Soft despots ensure your compliance through normal democratic channels. 

    Regulations? Oh, they keep you safe. 

    Censorship? That’s to protect you from misinformation. 

    Surveillance? That’s necessary for your security, see.

    Dependence? It offers you stability. 

    And we see these forces at work in our society today. The architects of this soft despotism have taken shape too often as government bureaucrats and big tech and corporate elites, international institutions, media gatekeepers, and the welfare state. And their benevolent rule has given us nations without borders, grossly inefficient bureaucracies, a culture of surveillance, and a citizenry that is apathetic, distracted, and dependent. The dynamics are the same around the world. Whether you’re in Detroit or Manchester, Lyon or Berlin, the supreme power of big government has extended its arm over all of us. And the casualties of the soft despotism that’s taken hold have been the loss of our heritage, our national identities, our patriotism, and our prosperity. 

    In this civilizational moment, as our friend Oz Guinness describes it, will we choose renewal, replacement, or decline? In the U.S., we have just embarked on a new path of renewal. We are determined to bring about a new golden age in America, as President Trump says, and we are convinced that we can, if we return to the timeless foundational principles which lead to human flourishing. 

    The challenge we have today is ensuring that the current generations of our countrymen recognize and recommit to those principles. And what are they? In less than 17 months, the U.S. will celebrate the 250th anniversary of our Declaration of Independence. As G.K. Chesterton observed, “America was founded on a creed that is set forth with dogmatic and even theological lucidity,” he said. From. the second paragraph of the Declaration, “We hold these truths to be self-evident, that all men are created equal, they are endowed by their Creator with certain inalienable rights, that among these are life, liberty, and the pursuit of happiness, that to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed.”

    Of the 56 men who signed the Declaration, almost all of them professed to be Christians, and at least half of them had received formal religious training in their education. Having studied the Bible, they recognize that we are not simply born equal, but rather created equal and that it is our Creator who endows us with our rights and not the state. They also recognize that all of us are made in the image of our Creator and thus every single person has an inestimable dignity and value. And that value is not related in any way to the color of our skin or where we live or what our talents are or anything else. Our value is inherent because it is given to us by God. 

    The founders of our country also understood that man has a fallen nature and that fallen men with power and no accountability can become a serious problem. Because power corrupts and as Lord Acton observed, “absolute power corrupts absolutely.” So, our system of government was meticulously designed with careful safeguards, like the separation of powers and checks and balances. And our founders emphasized that a government of the people, by the people, and for the people, could not long survive without a vibrant practice of religious faith, because they understood that is a necessary element to foster personal responsibility and to keep a general moral consensus among the people. A healthy, self-governing society relies on the moral character of its citizens. 

    It’s ironic, but on this day in America, we’re observing one of our 11 federal holidays, and this one’s known as President’s Day, which originally began as an annual celebration of George Washington’s birthday. In his farewell address, the father of our country noted this. He said, “Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports.” Our second president, John Adams, reminded his countrymen that the American Constitution was, “made only for a moral and religious people. It is wholly inadequate to the government of any other.” The founders emphasized the importance of balancing individual liberty with personal responsibility. And our fourth president, James Madison, argued that every citizen should put the nation above their own self-interest. 

    The timeless virtues that are rooted in the Judeo-Christian tradition served as the foundation of America and of all Western civilization. But in recent decades, changes have happened rapidly, and left-wing social movements have advanced very aggressively. Many world leaders, convinced that national borders were obstacles to unity and social progress, sought to dismantle them in favor of global integration. 

    But a key downside to the new global order is that it ultimately led to a devaluing of local communities and a weakening of national identity, which was replaced instead by a divisive new racial, sexual, and gender-based identity. If Americans aren’t American anymore, and Brits aren’t British anymore, and Germans aren’t German anymore, then naturally something else will fill the void. If everyone is a citizen of the world, then no one is really accountable any longer to their own nation or to their own local community. 

    Unfortunately, these ideas have taken hold. We have heard a little bit about polls this morning. Here’s a few more. 50% of Germans under the age of 30 say they feel more European now than German. Only 40% of Americans say they are extremely proud to be American. Only one in five British adults consider themselves to be very patriotic. This trend is reflected in political apathy and the growing tendency of people to simply submit to governments whose laws have become so offensively intrusive and whose centers of power feel distant and inaccessible. If there is nothing to fight for, then why fight at all? 

    This is the vision of the left, for the people to feel so powerless that they give in and just accept their fate as mindless vassals under the safe protection of the state. And the only way to reverse this trend into further technocratic tyranny is to recommit to our foundational principles and live them out. What made the West and what made our nations great must now guide us once again. 

    During his trip through America, Tocqueville marveled at what he said was, “The extreme skill with which the inhabitants of the United States succeed in proposing a common object for the exertions of a great many men and in inducing them voluntarily to pursue it.” Those neighbors and local volunteers joined together to found seminaries, hospitals, prisons, libraries, and schools. They built society together with their own hands. 

    In all of our shared history in the West, it has remained true that strong communities have formed a bulwark against tyranny. Strong mediating institutions ground us in the needs of our community and the outgrowth of these institutions formed the basis for a healthy, engaged citizenry. Edmund Burke called them “little platoons.” He was referring to the families and churches and civic organizations and community groups which began at the smallest, most local level. Burke argued this bottom-up voluntary approach to society would deepen our sense of duty and shared responsibility to one another and also act as an important safeguard against a distant state authority. 

    While the spirit of voluntary association is currently on life support throughout the West, it is not dead. We see it in America every time there is a natural disaster. I’ve participated in this as a local citizen, and I’ve witnessed it often as an elected official.

    This past September, Hurricane Helene made landfall in the United States. It was an historic storm. For five straight days, torrential rains and 100-mile-per-hour winds swept across the Atlantic, devastating homes and communities and businesses. It hit western North Carolina the hardest. As the Speaker of the House, tasked with ultimately passing the relief efforts through Congress, I wanted to take a trip to ground zero to witness the scope of this destruction and meet with the individuals whose aid our aid would eventually impact. 

    One of our first visits in the state was to the First Baptist Church in Swannanoa, North Carolina. When we arrived, we were met with what looked like a military-grade aid station. It was so impressive. There were doctors and nurses and carpenters and chefs and scores of volunteers. The storm knocked out almost all of their cell and internet service throughout the entire region. So, I asked the pastor’s wife at that church, how did all this come together? 

    She informed me that an elderly woman in the community, who had recently purchased an entire cow to store in her deep freezer for the winter months, had lost her home in the storm, but somehow the deep freezer had survived. She was worried that the hundreds of pounds of meat in her freezer would spoil without electricity, so she loaded it into a vehicle and dropped it off somewhere she knew it would go to good use, and that was the local church. 

    Neither the pastor nor his wife were trained butchers, but they knew they had hungry mouths in the community, so they turned their sanctuary into a makeshift butcher shop and started cooking for the surrounding people. As the smell of grilled beef wafted above the small town, citizens showed up. And they continued to show up. And from that point forward, the church became the central hub for disaster relief, organized not by the state or the federal government, but by local neighbors, the community. It filled in where the bureaucracy could not. 

    In times of disaster, local organizations are often the first to respond, well before the broken and bureaucratic federal agencies ever arrive. And they often have a much higher mission success rate, by the way. In my home state of Louisiana, organizations like the Cajun Navy, an interconnected group of volunteers with boats and trucks, have saved thousands of Louisianians during storms like Hurricane Katrina. 

    I tell these stories because they serve as evidence that strong communities, built on the spirit of voluntary association and shared responsibility are still very much alive. But it is a shame that it takes a natural disaster for us to recognize their value. This level of civic engagement should be the rule and not the exception, because the same principles that drive effective local action in times of crisis can also inform national policy and global leadership. 

    In the last line of the Declaration of Independence, our founders wrote the following, “For the support of this declaration, with a firm reliance on the protection of divine providence, we mutually pledge to each other our lives, our fortunes, and our sacred honor.” America’s founders were willing to die for the cause of liberty, and this acknowledgment in our nation’s birth certificate signaled a commitment that America would place our national interest over our individual interests, and those of foreign nations. 

    While we have gradually lost sight of this concept, the new American government is proof positive that we can rekindle that spirit once again. On this national holiday of ours, I’ll quote the president that I most fondly remember from my youth, and that’s Ronald Reagan. He reminded us of this famous admonition. He said, “We cannot escape our destiny, nor should we try to do so. The leadership of the free world was thrust upon us two centuries ago in that little hall in Philadelphia. In the days following World War II, when the economic strength and power of America was all that stood between the world and the return of the Dark Ages, Pope Pius XII said, the American people have a great genius for splendid and unselfish actions. 

    Into the hands of America, God has placed the destinies of an afflicted mankind.” American leadership clearly did help bring about decades of peace and economic growth and prosperity for the Western democracies. 

    In America, we still believe in peace through strength, and we still understand our role in the world. A strong America is good for free people everywhere because it helps to keep the terrorists and the tyrants at bay. But to maintain our strength and leadership, our foreign policy must be centered on our own national interest. It’s a matter of common sense for each of our countries to acknowledge that we must each take care of our own houses before we help take care of the neighborhood. As we seek to make America safer, stronger, and more prosperous, we will encourage all our friends and allies to do the same in and for their own countries. The survival of the West will depend upon that. And this is how we will turn the tides, by refocusing and marshalling our many shared interests toward our own national interest. 

    Recent elections in places France, Italy, like Netherlands and Germany signal that millions of freedom-loving people around the world share our concerns about unchecked power and the erosion of national sovereignty. As leaders in government, academia, media, and the arts, we must be prepared to steer their aims toward policies and mediating institutions that reduce government dominion over our lives and advance prosperity. In short, we must not let this civilizational moment pass us by. 

    So how do we do it? As leaders, we should be working at every level to shift control away from established power centers and back to the people. The local school board will not be nearly as powerful if there is a thriving parent-teacher association holding them accountable. The county commission’s grip on zoning laws is weakened when neighborhoods take control of development initiatives. And organizations like the World Economic Forum lose their dominance when organizations like our ARC seek to challenge their hegemony. 

    History has proven that centralized governments thrive when their subjects are powerless and indifferent. If we want to protect our rights from tyranny, we have to focus, work, and build closest to home. And we must hold our elected leaders accountable. 

    President Reagan reminded us of another thing. He said, “Freedom is never more than one generation away from extinction. We didn’t pass it to our children in the bloodstream. It must be fought for, protected, and handed on so that they will know the same liberty, opportunity, and security that we have too often taken for granted.”

    This is our civilizational moment. The West is finally awakening once again. We have to seize this opportunity, and by God’s grace, we will. I hope you all enjoy this historic conference, and I thank you again for the opportunity to share with you this morning, and I so wish I was there in person. God bless you.

    ###

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Pallone Warns of Devastating Health Care Cuts in Republicans’ Scheme to Fund Billionaire Tax Breaks

    Source: United States House of Representatives – Congressman Frank Pallone (6th District of New Jersey)

    Energy & Commerce Committee’s Top Democrat Visits Central Jersey Medical Center, Highlights Risks to Medicaid Patients and Community Health Centers

    PERTH AMBOY, NJ – Congressman Frank Pallone, Jr. (NJ-06), the Ranking Member of the House Energy and Commerce Committee, visited Central Jersey Medical Center today to sound the alarm on President Trump’s and House Republicans’ plan to slash Medicaid funding—jeopardizing the health care of 1.7 million New Jerseyans and Community Health Centers (CHCs), hospitals, and nursing homes across New Jersey in order to bankroll massive tax cuts for billionaires and big corporations.

    “I saw up close today how Central Jersey Medical Center provides essential care—whether it’s preventive services, dental care, or managing chronic conditions—and I know what’s at stake if these cuts go through,” Pallone said. “House Republicans want to gut Medicaid to hand billionaires and corporations another tax break, and the consequences will be devastating. This isn’t about ‘fiscal responsibility’—it’s about ripping health care away from seniors in nursing homes, children, and people with disabilities. Slashing Medicaid would shut down health centers like this one, gut hospitals, and overwhelm emergency rooms. It’s immoral, and I’ll fight it every step of the way. New Jerseyans deserve better—I won’t let them rip away your health care just so Elon Musk can buy another rocket.”

    Last week, the House Budget Committee approved a budget resolution including at least $880 billion in Medicaid cuts over the next ten years.  These cuts would gut health care coverage for millions while handing giveaways to the ultra-rich. They would also cripple facilities like Central Jersey Medical Center, which provides essential primary, dental, and preventive care to thousands of working-class and low-income people in Perth Amboy and surrounding communities.  

    House Republicans are hoping to bring the budget resolution up for a vote of the full House as early as next week.  

    What’s at Stake for New Jersey?

    New Jersey’s 24 Community Health Centers provide care at 136 locations statewide, ensuring that nearly two million residents—including Medicaid patients, the uninsured, and underserved communities—have access to doctors, nurses, and preventive care. Medicaid currently covers 1.7 million New Jerseyans, including children, pregnant women, seniors in long-term care, and individuals with disabilities.

    Republicans’ proposed Medicaid cuts would destabilize New Jersey’s health care system, pushing more patients into already-strained emergency rooms, increasing uncompensated care costs, and driving up insurance premiums for everyone. Republican proposals, such as so-called “per capita caps” would shift costs onto states – forcing New Jersey to slash services, limit eligibility, and cut provider payments.    

    The drastic cuts to CHC funding would threaten the viability of health centers like Central Jersey Medical Center, which could be forced to close or severely limit services.  

    Pallone’s visit to Central Jersey Medical Center was attended by doctors, patients, and local leaders, all of whom echoed Pallone’s concerns about the devastating impact of the new Republicans’ tax scheme.

    “The Arc of New Jersey is grateful for Congressman Pallone’s unwavering commitment to protecting the Medicaid program. And that is exactly what we need from all members of Congress. Medicaid is the lifeline program for thousands of individuals with intellectual and developmental disabilities (IDD) living in New Jersey. Any cuts to funding or changes to benefits will absolutely mean a reduction in services, longer wait times for support and a diminished quality of life for those with IDD. We cannot allow a dismantling of Medicaid as it will have a devastating and crushing impact on the state’s most vulnerable,” Sharon Levine, Senior Director, The Arc of NJ 

    “Advocates for Children of New Jersey has been a longtime advocate for NJ FamilyCare, which now covers nearly 20% of all residents living in the Garden State. This includes more than 820,000 children, ages from birth to 18-years-old and covers about a third of all births annually. Children from poor and low-income families, youth aging out of foster care, and individuals with complex and long-term medical needs rely on this critical health insurance. Any cuts or changes to federal Medicaid funding will have a substantial impact on their health and well-being,” Mary Coogan, President and CEO, Advocates for Children of NJ 

    “CJMC delivers evidence-based, high-quality care to all New Jersey residents, regardless of their insurance status or their ability to pay. By providing high quality primary care and behavioral health services, CJMC will improve health outcomes and reduced healthcare costs,” Dr. Cynthia Vuittonet.

    “Too many New Jerseyans are already struggling to pay for groceries, housing, and medical bills,” said Maura Collinsgru, Director of Policy and Advocacy for New Jersey Citizen Action. “Gutting Medicaid funding will cut essential health services for millions, including pregnant women, people with disabilities, low-income families with children, and seniors in nursing homes. It’s inhumane to consider making these cuts so that billionaires and huge corporations can get another tax break. We urge all our Representatives to stand with Congressman Pallone against any efforts to defund Medicaid.”

    Pallone’s Role in Defending Health Care

    As Ranking Member of the House Energy and Commerce Committee, which oversees Medicaid and CHC funding, Pallone is a critical last line of defense against Republican attacks on health care access. He has led efforts to protect Medicaid funding, defend Americans’ health care coverage, and expand support for Community Health Centers.

    The House Energy and Commerce Committee is expected to soon take up elements of the Republican reconciliation plan, including deep Medicaid cuts. Pallone has vowed to lead the fight against these attacks.  He is committed to protecting the 70 million Americans on Medicaid and ensuring that Community Health Centers and hospitals are not sacrificed for tax breaks for Trump’s billionaire friends.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Congressman Rogers Calls on FEMA & Army Corps for Speedy Flood Response

    Source: United States House of Representatives – Representative Harold Hal Rogers (KY-05)

    PIKEVILLE, Ky. — U.S. Rep. Harold “Hal” Rogers (KY-05), Dean of the House, called on federal officials for a speedy and thorough response to Eastern Kentucky counties impacted by recent deadly flooding, mudslides and high winds. Congressman Rogers personally spoke to leaders with the Federal Emergency Management Agency (FEMA) and the U.S. Army Corps of Engineers Louisville and Huntington Districts to discuss improvements that are needed for federal flood relief and flood control efforts. He also spoke to local leaders about their specific needs in Eastern Kentucky as flood recovery begins once again. 

    “It has been less than three years since the last catastrophic flood ravaged our region in July 2022, causing widespread damage and multiple fatalities. We learned some key lessons from the last two disasters that we must improve for Eastern Kentuckians. Bureaucratic red tape and burdensome regulations have led to far too many delays in previous relief efforts and flood control projects, so I discussed more efficient operations with FEMA and the Army Corps,” said Congressman Rogers. 

    As Dean of the House and the Kentucky Federal Delegation, Congressman Rogers led a joint letter to President Trump in support of Governor Andy Beshear’s request for an expedited Major Disaster Declaration. President Trump swiftly approved the Governor’s request for an Emergency Disaster Declaration on Sunday, and this request for an expanded Major Disaster Declaration will provide widespread federal relief in counties that meet the threshold for public and individual assistance. 

    “I specifically requested mobile centers for FEMA to reach more people as quickly as possible. We also discussed previous offsets that prevented some flood survivors from accessing multiple sources of funding for home repairs, replacing appliances and other needs. We need to ensure Eastern Kentuckians have access to all available funds that can help them get back on their feet.”

    Congressman Rogers has secured more than $800 million in federal funding for  U.S. Army Corps of Engineers flood control projects in southern and eastern Kentucky during his service to the region. 

    “We’ve seen the life-saving value of effective Army Corps projects along the Cumberland River, the Big Sandy and Tug Fork,” said Congressman Rogers. “We must work faster and more efficiently to remove dangerous debris and sediment in our waterways. We must also complete the flood control projects that are already underway in Coal Run, Town of Martin, Paintsville, Beattyville, and along the Kentucky River. These investments are crucial, but project delays have proven to be detrimental with three back-to-back flooding events in the last five years.”

    For more information about Congressman Rogers’ work in Washington and at home in Kentucky, visit halrogers.house.gov and follow him on Facebook, X and Instagram. 

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Chairmen Guthrie and Palmer Announce Oversight & Investigations Subcommittee Hearing Probing the Biden Administration’s Energy and Environment Spending

    Source: United States House of Representatives – Congressman Gary Palmer (R-AL)

    WASHINGTON, D.C. – Today, Congressman Brett Guthrie (KY-02), Chairman of the House Committee on Energy and Commerce, and Congressman Gary Palmer (AL-06), Chairman of the Subcommittee on Oversight & Investigations, announced the first hearing of the 119th Congress for the Subcommittee on Oversight & Investigations titled Examining the Biden Administration’s Energy and Environment Spending Push. 

    “In its final months, the Biden-Harris Administration handed out billions of dollars in energy and environment grants and loans at an unprecedented pace, exacerbating concerns that appropriate vetting and due diligence reviews may not have occurred for some of these awards,” said Chairmen Guthrie and Palmer. “This hearing will provide an opportunity for the Committee to examine this surge in spending and help identify potential misuse of federal funds.”   

    Subcommittee on Oversight and Investigations hearing titled Examining the Biden Administration’s Energy and Environment Spending Push. 

    WHAT: Subcommittee on Oversight and Investigations hearing examining Biden-Harris Administration energy and environment spending.

    DATE: Wednesday, February 26, 2025    

    TIME: 10:30 AM ET 

    LOCATION: 2322 Rayburn House Office Building 

    This notice is at the direction of the Chairman. The hearing will be open to the public and press and will be livestreamed online at energycommerce.house.gov. If you have any questions concerning this hearing, please contact Calvin Huggins at Calvin.Huggins1@mail.house.gov. If you have any press-related questions, please contact Zach Bannon at Zach.Bannon@mail.house.gov. 

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Hoyer Statement on President Trump’s Appalling Comments on Ukraine

    Source: United States House of Representatives – Congressman Steny H Hoyer (MD-05)

    WASHINGTON, DC – Congressman Steny H. Hoyer (MD-05) released the following statement today in response to the comments made by President Donald J. Trump regarding Ukraine:

    “President Donald Trump’s comments on Ukraine are appalling. By repeating Russian propaganda, our own President dishonors America, and dishonors the brave men and women who have fought so valiantly for democracy and international law. These freedom fighters are defending their homeland and sovereignty against a war criminal who invaded Ukraine without any justifiable cause. 

    “With his comments, President Trump also dishonors all of those democracies who have supported President Zelenskyy in his leadership to defeat a craven dictator.

    “It is now obvious why Zelenskyy was not included in the discussions so critical to the future of Ukraine. President Trump is clearly adopting Putin’s argument, which has been rejected by the free world and the United States of America in a bipartisan fashion. Every American and every Republican and Democrat who loves freedom and opposes dictators and war criminals should be speaking out forcefully in opposition to this Putin lie that, shockingly, Trump has parroted. His relationship with this despot is dangerous and despicable.”

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Connolly Announces New Effort To Hear From Americans Hurt By Trump Actions

    Source: United States House of Representatives – Representative Gerry Connolly (D-Va)

    Today, Congressman Gerry Connolly (D-VA), the Ranking Member of the House Committee on Oversight and Government Reform, joined Democratic Leader Hakeem Jeffries and House Democrats in announcing a new effort to hear directly from Americans harmed by the Trump Administration.

    “If you have lost your job, been denied important services, or face other impacts because of Donald Trump and Elon Musk’s extreme, illegal, and unconstitutional actions, we need to hear directly from you,” said Connolly. “House Democrats are challenging Trump and Musk in Congress, the courts, and in our communities. With your personal stories, we will be better able to fight to protect you and other Americans.”

    Americans hurt by recent Trump Administration policies can share their story at democraticleader.house.gov/shareyourstory. With this information, House Democrats will help prepare direct responses to expose and stop the Trump Administration’s extreme, illegal, and unconstitutional actions.

    Ranking Member Connolly and Democrats on the Committee on Oversight and Government Reform have also established a whistleblower tipline to gather information regarding potential wrongdoing, abuses of power, and threats to federal workers. Federal workers who have witnessed or been subjected to any action that violates their rights or goes against the Constitution can blow the whistle at oversightdemocrats.house.gov/contact/tip-line.

    Constituents of Virginia’s 11th District can contact Congressman Connolly via his website, or by calling his office at (703) 256-3071.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Congressman Harris Sends Letter To Constituents On The High Costs Of Energy In Maryland

    Source: United States House of Representatives – Congressman Andy Harris (MD-01)

    Washington, D.C. – Congressman Harris, M.D. sent the following letter to his constituents in response to numerous concerns about the rising costs of energy in Maryland. 

    The letter can be read below: 

    Dear Friend, 

    For the last four years, the Biden-Harris administration implemented anti-domestic energy policies, suspended oil and gas leasing on federal land, and enforced costly energy regulations.

    In Maryland, the General Assembly followed suit by passing their own version of the “Green New Deal Scam” and mandating utilities to add new taxes and fees to your power bills.

    The result? Marylanders are struggling more than ever to afford these unnecessary, sky-high energy bills. Nearly every day, my constituents call to inform me that their recent energy bills have increased resulting in staggering charges compared to previous winter seasons. This cannot continue.

    In Congress, I’m fighting to LOWER your energy bills. Last week, the House of Representatives passed the Protecting American Energy Production Act, which promotes domestic energy production and allows for fewer regulations on natural gas production.

    Since taking office, the Trump administration has made energy a focus; declaring a national energy emergency, promoting domestic fossil energy production, and rolling back red-tape regulations that increase energy prices.

    These actions will help energy production nationally but leaders in the Maryland General Assembly must ACT. They should no longer put “green new deal” policies above common sense. 

    The Maryland General Assembly should also work expeditiously to halt the expected June 1, 2025, closures of the Brandon Shores and Wagner power plants, two of our last remaining in-state energy sources. Instead, the General Assembly is focusing their “Green New Scam” wish list on attempts to expand solar on rural and agricultural land.

    Leaders in Maryland should listen to their constituents; they should understand the frustration with high energy bills and the fact that this was brought upon them by the actions of the Maryland General Assembly, which has mandated expensive, undependable sources of energy — including offshore wind.

    Recently, I sat down with Spotlight on Maryland to reiterate my concerns about the high costs of energy in Maryland.

    The letter concludes by listing several resources constituents can utilize if they are experiencing high energy costs in their homes or businesses. 

    For media inquiries, please contact Anna Adamian at Anna.A@mail.house.gov

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: MATSUI STATEMENT ON JAPANESE AMERICAN DAY OF REMEMBRANCE

    Source: United States House of Representatives – Congresswoman Doris Matsui (D-CA)

    SACRAMENTO, CA – Today, Congresswoman Doris Matsui (CA-07), released the following statement on Japanese American Day of Remembrance, the 83nd anniversary of the date in 1942 when President Franklin D. Roosevelt signed Executive Order 9066 – leading to the incarceration of Japanese Americans during World War II. 

     

    “Today marks 83 years since Executive Order 9066 displaced and incarcerated over 120,000 Japanese Americans, including my family,” said Congresswoman Matsui. “Everyday Americans were stripped of their freedom. Many lost everything – their homes, their businesses, and their livelihoods. Day of Remembrance stands as a stark reminder that we cannot afford to be complacent. Our freedoms are not simply self-sustaining. Our democracy is only as strong as our willingness to defend it and stand up to injustice.”

    “We cannot and should not hide from our history,” Matsui continued. “That is the only way we can ensure that it does not repeat itself. Our history is lived experiences. It is the stories of real people, of families, of communities, and of the choices our country has made, both right and wrong. Right now, we are seeing a familiar playbook. The Trump Administration is trying to create a culture of fear and hysteria. Convince us we are hopelessly divided. Disregard due process to detain, expel, and keep vulnerable people down. That is why the Japanese American story must be told and retold. Our community has seen this before. We know all too well the consequences of institutionalized prejudice and discrimination – and Day of Remembrance reminds us that we must remain vigilant to prevent them.” 

    To ensure the continued teaching of Japanese American history, Congresswoman Matsui authored the Norman Y. Mineta Japanese American Confinement Education Act, which was signed by President Biden in January 2023. The bill reauthorized the Japanese American Confinement Site program within the National Park Service. This program has been one of the primary resources in the preservation and interpretation of the U.S. Confinement Sites where Japanese Americans were detained during World War II. Additionally, the legislation established a separate, new five year, $2 million per year competitive grant to create educational materials about the incarceration of Japanese Americans during World War II. 

    # # #

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Congresswoman Schrier Introduces Bipartisan Legislation to Improve Public Health Preparedness

    Source: United States House of Representatives – Congresswoman Kim Schrier, M.D. (WA-08)

    WASHINGTON, D.C. –Congresswoman Kim Schrier, M.D. (WA-08) introduced the bipartisan Diagnostics Testing Preparedness Plan Act, which would facilitate the innovation and development of diagnostics between the private and public sectors during Public Health Emergencies. Congresswoman Schrier was joined in introducing this legislation by Representatives Miller-Meeks (IA-01), Carson (IN-07), and Crenshaw (TX-02). 

    “Diagnostics are an essential part of public health preparedness and, as was exemplified in the COVID-19 Pandemic when we struggled to provide the testing required to slow the spread of disease while South Korea was doing thousands of drive-thru tests daily, diagnostic testing is especially crucial during a public health emergency,” said Congresswoman Schrier, M.D. “This commonsense, bipartisan bill will improve our clinical and diagnostic laboratory testing capacity, enhance public-private partnerships, and strengthen our overall public health preparedness against illnesses ranging from the seasonal flu to new, emerging threats.”

    The Diagnostics Testing Preparedness Plan Act would require the Department of Health and Human Services (HHS) to develop a strategic plan that supports the rapid deployment of diagnostic tests during public health emergencies. Specifically, HHS would develop and periodically update a plan for rapid development, procurement, and distribution of diagnostic tests during public health emergencies, including laboratory and at-home tests. The plan must promote collaboration among government agencies and private sector stakeholders. 

    “From development to distribution, it is crucial to have a comprehensive plan for diagnostic and clinical lab testing capacities during a public health emergency,” said Dr. Miller-Meeks. “During the COVID-19 pandemic, we saw how critical diagnostic tests were for the public health response. As a physician, I am proud to sponsor this bipartisan bill to ensure the U.S. has a robust response to future public health emergencies.”

    “Diagnostics play a role in every aspect of public health,” said Congressman Carson. “Whether it’s a bad flu season or the outbreak of a new infectious disease like the bird flu, our bill will ensure my district and cities across the country are better coordinated and better prepared to tackle the world’s most serious health problems. I’m honored to work with Roche Diagnostics in my home district and with my colleagues across the aisle on this important bill.”

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI Asia-Pac: Inflation at 2% in January

    Source: Hong Kong Information Services

    Overall consumer prices rose 2% year-on-year in January, a larger rate of increase than the 1.4% seen in December, the Census & Statistics Department announced today.

    Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1.6%, also larger than that seen in December.

    Compared with a year before, price increases were recorded in January in the following categories: alcoholic drinks and tobacco; electricity, gas and water; transport; miscellaneous services; meals out and takeaway food; housing; miscellaneous goods; and basic food.

    Meanwhile, year-on-year decreases were logged in clothing and footwear, as well as durable goods.

    The Government commented that underlying consumer price inflation was modest in January, during which food prices registered mild year-on-year increases, and prices of energy-related items picked up moderately. At the same time, price pressures on other major components stayed broadly in check.

    As last year’s and this year’s Lunar New Year fell in different months, the Government said it would assess the underlying inflation situation at a later date, using the combined figures for January and February 2025.

    The Government also said it expects overall inflation to remain moderate in the near term.

    While domestic costs may be subject to some upward pressures, external price pressures should remain contained, it remarked, adding that uncertainties stemming from geopolitical tensions and trade conflicts warrant attention.

    MIL OSI Asia Pacific News –

    February 21, 2025
  • MIL-OSI United Kingdom: Oxford City Council calls for potential development sites

    Source: City of Oxford

    Published: Thursday, 20 February 2025

    Oxford City Council is asking people to suggest sites which could be suitable for future development to inform the creation of its next Local Plan.

    The Local Plan 2042 will guide all planning decisions in Oxford for the next 17 years.  

    The Council wants to hear from landowners, developers and others who know of sites with a potential range of future uses. Sites must be wholly or partly within Oxford’s administrative boundaries. 

    The Council will then fully assess sites capable of delivering 10 or more homes, 500m2 of employment floorspace or are bigger than 0.25 hectares. 

    Submission of a site for consideration does not mean it will be included in the Local Plan or get planning permission in future. 

    The Council will also consider sites included in the preparation of earlier Local Plans. However, it encourages people to provide updates if any details have changed. 

    For consideration, people should submit details of sites by 17 March 2025. This can be done using the Council’s online webform.  

    Anyone with questions before submission can contact the Planning Policy team at planningpolicy@oxford.gov.uk or call 01865 252847. 

    Comment 

    “Oxford is growing and it needs to do so in a way that works for everyone. We are actively encouraging landowners to put forward sites for development, particularly for housing. This is an important step in shaping our future development and we want to hear from people about land that could potentially help meet our city’s needs.” 

    Councillor Louise Upton, Cabinet Member for Planning

    Frequently asked questions about the call for sites 

    Next steps for the Local Plan 2042 

    The Council is set to carry out two rounds of public consultation later this year as it completes preparation of the Local Plan 2042:  

    The Council aims to submit the plan to the Planning Inspectorate for examination in April 2026.  

    Once the plan is submitted the timescale for approval is in the hands of planning inspectors. However, public hearings could be held late next year and the Local Plan 2042 adopted in the spring of 2027. 

    MIL OSI United Kingdom –

    February 21, 2025
  • MIL-OSI United Kingdom: Council welcomes jail term for payments cheat

    Source: City of Coventry

    A Coventry woman has been jailed after fraudulently claiming over £17,000 in financial support to care for her mother up to two years after she had died.

    Agnieszka Macugowska, aged 45, was jailed for a total of 31 months when she appeared at the Crown Court sitting at Warwick.

    The court heard that her mother had a care plan with Coventry City Council that started in 2015.

    She received a cash payment to cover support for 15 hours and 45 minutes a week, which she managed with support from her daughter. The payment started at £184.28 per week which in April 2019 was raised to £191.36 per week.

    In 2020, when the Council failed to receive information so it could continue to monitor payments, Agnieszka Macugowska told them her mother still lived in Coventry, but had changed doctors and travelled abroad for medical treatment. 

    She then provided information to the Council to support the use of the direct payment, including timesheets completed by her mother’s carer and her insurance certificate.  

    The Council then carried out a home visit in late 2020 where they met Agnieszka Macugowska, along with a woman introduced as her mother and a woman presented as her carer.

    However, following further inquiries, the Council found the mother had, in fact, died in November 2018 whilst abroad. 

    In welcoming the sentence, Cllr Abdul Salam Khan, Deputy Leader of Coventry City Council, and Cabinet Member for Policing and Equalities, said:

    “There are so many people in our city who are going through tough times caring for loved ones, and that brings an incredible emotional and financial strain.

    “The Council works with relatives to give the support they need, but sadly there are some unscrupulous people who think they can exploit the system and secure financial gain for themselves. This does not just come at the expense of the Council, but also for others struggling to make ends meet.

    “It is well known that Coventry, like all local authorities, is facing severe pressure on its budget, and a lot of that is because of the increasing costs in caring for adults and children and supporting the most vulnerable in our community.

    “It is a responsibility we take very seriously and we work hard to help as many as we can, and we will not stand by and let the system be exploited. As in this case, we will investigate and ensure those who steal from others are prosecuted.

    “We welcome the finding of this case and the sentence imposed. Hopefully it will serve to show others the severe consequences they face if they break the law.”

    The falsely claimed sum of more than £17,000 has successfully been recovered by the Council.

    MIL OSI United Kingdom –

    February 21, 2025
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