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Category: housing

  • MIL-OSI United Kingdom: Warmer Homes London launches to help vulnerable Londoners heat their homes and save money

    Source: Mayor of London

    • Warmer Homes London (WHL) will see the Mayor of London and London Councils work in partnership with London boroughs and housing associations to unlock millions of pounds from a national pot of £1.79bn to spend on energy saving measures for the most vulnerable residents in the capital.  
    • WHL will make London’s homes greener and turbocharge the installation of insulation, solar panels and heat pumps across the capital.
    • The Mayor of London and London Councils are funding Warmer Homes London together, with the Mayor investing £10m to establish a new hub to ensure that the programme is delivered at pace. London boroughs are also investing £400,000 in start-up costs.  
    • London boroughs and housing associations have committed to match national funding, to make tens of thousands of homes across London more energy efficient and save Londoners money on their bills.   
    • The new ‘one-London approach’ will for the first time offer councils a certain, long-term funding stream to retrofit homes in their boroughs.

    Today the Mayor of London, Sadiq Khan, and London Councils launched a new programme to transform the approach to making the capital’s homes warmer and more energy efficient and reducing Londoners’ energy bills. Warmer Homes London (WHL) will forge bolder ways to upgrade London’s homes as part of the retrofit revolution.    

    WHL is being rolled out in partnership with London boroughs and housing associations to make homes across London warmer, cheaper to run and more energy efficient.    

    The Mayor will invest almost £10 million over four years through WHL, which will for the first time provide a central hub for green housing funding and information. Until now, boroughs have had to apply for funding individually, led by the Government’s funding rounds. This created costs and long-term uncertainty. WHL will create a ‘one-London approach’, forming a close link with Government and providing reliable, long-term funds to boroughs, meaning they will have the certainty they need to progress retrofit works in their area. The new ‘hub’ will enable a more co-ordinated approach with Government, increasing bargaining power with Ministers and enabling homes to be improved at a larger scale and faster pace. 

    The initiative will help thousands of Londoners save money on their energy bills by funding energy efficient measures such as better insulation, replacing of fossil fuel heating and the introduction of heat pumps. Social landlords (organisations such as local authorities and housing associations who provide affordable housing for rent without a profit), low income owner occupiers and low income private tenants can access the opportunity to take part in the initiative. This will ensure that Londoners who are most vulnerable to fuel poverty will be able to benefit from the funding, whether they rent or own their home.  

    WHL will help secure funding from the Government’s Warm Homes Social Fund and Warm Homes Local Grant funding streams, which is a total national amount of £1.79bn during 2025–2028. WHL will focus on installing energy saving measures in low income private housing. 

    London’s homes are responsible for one third of the capital’s carbon emissions and many are not energy efficient, meaning they cost more to warm up in the winter and lose heat quickly. They can also be uncomfortably hot during summer heatwaves. High living costs and rising fuel prices have meant that even more Londoners now face fuel poverty, with many people having to choose between heating their home or spending money on food. In social rented homes with poor energy efficiency, 56 per cent of households are living in fuel poverty*. Making these homes more energy efficient is a key part of London’s efforts to tackle the climate emergency.   

    The Mayor of London, Sadiq Khan, said:  “Londoners have been struggling for years with sky-high energy bills. Warmer Homes London will help Londoners save money on their bills by making their homes more energy efficient and cheaper to heat.

    “By working in close collaboration with local councils and housing associations, Warmer Homes London will enable us to upgrade more homes, and do it more quickly avoiding unnecessarily long wait times for home improvement works.

    “Making our homes more energy efficient is a priority for me, but also the new government. Through this new initiative we will be able to unlock more national funding from the Government for homes in London. Together, we can build a better, safer and greener London for everyone.”

     Cllr Claire Holland, Chair of London Councils said:  

    “With 379,000 households in London living in fuel poverty, taking action to make homes in our city warmer and more energy efficient is vital for our residents’ health, wellbeing and finances.

    “Warmer Homes London will bring together London boroughs, the Mayor of London, housing associations and government to drive this work forward. It aims to unlock millions of pounds  of investment to deliver improvements to tens of thousands of  homes across London, making them more energy efficient, reducing their environmental impact and saving Londoners money on their bills.

    “Warmer Homes London is a perfect example of how tackling the climate emergency and improving the lives of our residents go hand-in-hand, with joint working across all levels of government vital to achieving this.”

    Minister for Energy Consumers Miatta Fahnbulleh said:

    “Everyone deserves to live in a warm, comfortable home.

    “Warmer Homes London marks an important step towards making thousands of homes cheaper to run for Londoners with clean energy, while cutting fuel poverty across the capital.

    “It will also support delivery of our Warm Homes Plan, which is set to benefit up to 300,000 homes with energy saving upgrades this financial year.” 

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Marat Khusnullin: In the Volga Federal District, about 167 thousand people moved from emergency housing

    Translartion. Region: Russians Fedetion –

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

    The resettlement of emergency housing in the country is being carried out on the instructions of the President. Thus, in the Volga Federal District, more than 2.6 million square meters of housing have been resettled since 2019, Deputy Prime Minister Marat Khusnullin reported.

    “The program for resettlement from uninhabitable houses is an important part of regional development and the well-being of our citizens. Since 2019, this task has been addressed within the framework of the national project “Housing and Urban Environment”. During this time, more than 810 thousand people have moved to new apartments. In the Volga Federal District alone, since 2019, the emergency housing stock has decreased by more than 2.6 million square meters, and about 167 thousand citizens have moved from uninhabitable houses. In particular, about 34 thousand people have improved their living conditions thanks to programs that are implemented by the regions at the expense of their own budgets. Work is ongoing under the national project “Infrastructure for Life”, – said Marat Khusnullin.

    According to the Deputy Prime Minister, the largest volume of emergency housing in the Volga Federal District was resettled: Perm Krai – 781 thousand square meters; Saratov Oblast – 403.3 thousand square meters; Samara Oblast – 335.6 thousand square meters; and Nizhny Novgorod Oblast – 269.9 thousand square meters.

    Ilshat Shagiakhmetov, Director General of the Territorial Development Fund, recalled that under the national project “Housing and Urban Environment”, houses that were declared unfit for habitation before January 1, 2017, were being resettled in the country. “The Saratov, Nizhny Novgorod, Orenburg regions, the republics of Tatarstan and Bashkortostan, having completed this task, have begun resettling houses that were declared unfit for habitation after 2017. Of the total volume, they resettled 289.1 thousand square meters of such housing, in which more than 16 thousand citizens lived,” said Ilshat Shagiakhmetov.

    The program for resettling citizens from emergency housing stock is supervised by the Russian Ministry of Construction. Its operator is the Territorial Development Fund.

    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 –

  • MIL-OSI: Progress in customer activity as well as core banking activities continued, and credit quality remained strong Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%

    Source: GlobeNewswire (MIL-OSI)

    Press release Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    7 February 2025

    Progress in customer activity as well as core banking activities continued,
    and credit quality remained strong
    Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%
    Dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share, in total DKK 14.7 per share
    The Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion

    Danske Bank has announced its financial results for 2024.
    Carsten Egeriis, Chief Executive Officer, comments on the financial results:

    “For Danske Bank, 2024 was a year in which we consistently delivered positive results from quarter to quarter, driven by increased customer activity, continually strong credit quality and a sustained, dedicated effort from the entire organisation. Consequently, we maintained our positive commercial momentum, resulting in a solid financial performance.

    One year into the execution of our Forward ’28 strategy, we have made substantial progress within our technology transformation and customer engagement, and we can see that our investments in enhancing the customer experience have resulted in increasingly positive customer satisfaction scores.

    Our continued focus on cost discipline and on maintaining strong credit quality resulted in two upward adjustments of our financial guidance in 2024. On the basis of our strong financial results and solid capital position, the total distribution in 2024 amounts to 100% of net profit, thus honouring the commitment we have made to our shareholders.

    With our advanced customer offerings, deep expertise and solid financial position, Danske Bank is strongly positioned to create value for customers, shareholders and society. In a time of heightened geopolitical uncertainty, rapid technological shifts and increasing sustainability challenges, we will continue to focus on opportunities and solutions for households and businesses alike.”

    The annual report is available at www.danskebank.com. Highlights are shown below:

    2024 vs 2023
    Total income of DKK 56.4 billion (up 8%)
    Operating expenses of DKK 25.7 billion (up 1%)
    Loan impairments of DKK -543 million (2023: DKK 262 million)
    Net profit of DKK 23.6 billion (up 11%)
    Return on shareholders’ equity of 13.4% (2023: 12.7%)
    Strong capital position, with a CET1 capital ratio of 17.8% (2023: 18.8%). The ratio reflects strong capital generation and the full deduction of the announced 40% additional capital distribution.
    Solid progress towards Forward ’28 ambitions and 2026 targets
    2024 was the first full year of our Forward ’28 strategy, and we are well-positioned for future growth as we maintain our trajectory towards strengthening our position as a leading bank in the Nordic region and make significant investments in our customer offerings.

    For personal and private banking customers, with Forward ’28, a sharpened focus in each of our markets has allowed us to further strengthen our relations with existing customers and attract new ones. For business and institutional customers, we want to be a leading bank in the markets in which we operate. Our approach focuses on meeting evolving market demands while fostering high long-term customer and employee satisfaction.

    Significant progress with our technology transformation paved the way for a better customer experience and improved efficiency. In 2024, we made substantial progress in terms of using digitalisation, data, AI and technology to improve customer engagement while reducing costs and operational risks. We developed a new version of our District online banking platform that is tailored to small businesses and is expected to launch in Denmark in the first half of 2025. We also launched a new welcoming app that makes it both easier and faster to become a personal customer with us.

    Across the bank, we have made GenAI a strategic priority, and our GenAI-powered solutions offer key opportunities to unlock productivity gains. During 2024, we launched DanskeGPT, which has been adopted by almost 16,000 users across the organisation, corresponding to 74% of all employees. We have also deployed GenAI-powered tools for our software developers, and these tools are driving solid productivity improvements.

    In 2024, Danica developed its new commercial strategy, Forward ’28 – Danica, which aims to make Danica the preferred pension company in Denmark by 2028. The strategy, which took effect on 1 January 2025, focuses on the importance of making customer interactions with Danica easy and convenient through digital solutions and on offering comprehensive healthcare offerings, attractive returns and quality advice. These elements are expected to be key growth drivers over the next few years. The strategy aligns with the strategic direction set in Danske Bank’s Forward ’28 strategy, underscoring the significant potential in synchronising services between the bank and the pension business.

    As the success of our strategy relies on solid execution, we have a significant focus on our employees, supported by investments in development activities, leadership and the workplace. Employee satisfaction and engagement scores continued to improve from already high levels and are now above the industry benchmark.

    Sustainability is a key focus area in Forward ’28, and our ambition is to be a leading Nordic bank in terms of supporting the sustainability transition of customers, businesses and the Nordic societies that we are a part of. Our efforts are reinforced by new ESG advisory services, comprehensive staff training, recruitment of specialists and strategic partnerships, all aimed at supporting our customers’ sustainability transition. In line with European regulation, for the 2024 annual report, Danske Bank has prepared a sustainability statement in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

    Better-than-expected macroeconomic conditions
    Macroeconomic conditions developed more favourably than expected in the markets in which we operate. Especially in Denmark, the inflation and growth outlook improved during the year, and this development is forecast to continue as central banks continue their easing trajectories, leading to lower rates for both households and businesses. Although the growth outlook has improved broadly speaking in the Nordic region, the uncertainty related to Europe’s long-term growth prospects and ability to innovate persists.

    In times of uncertainty for both Danske Bank and our customers, our well-capitalised balance sheet has enabled us to be a strong financial partner for our customers, and we have continued to support them with risk management expertise and expert advice.

    Strong financial performance
    An improved commercial momentum in our business, supported by better-than-expected macroeconomic conditions and strong credit quality have enabled us to strengthen profitability and generate record-high net profit. The return on equity thus increased from 12.7% to 13.4%, highlighting our positive trajectory and progress towards our 2026 targets.

    In 2024, total income grew 8%, driven by a sustained uplift in core banking income. Despite central bank rate cuts and lower deposit margins as well as overall muted credit demand, net interest income showed the expected strong development, with increasing net interest income throughout the year. Net fee income continued the positive traction throughout the year, reflecting our overall strong development and ability to do more business with existing customers and to attract new customers. We saw a higher level of fee income from cash management products, and customer activity generally remained high. Furthermore, we saw an increase in investment fees generated by strategic investments in our private banking offerings as well as a strong development in fees from asset management.

    Net trading income remained stable, and net income from insurance business benefited from stable financial markets, with the health and accident business continuing to be challenged, however.

    Operating expenses developed according to plan and were at the same level as in 2023. The minor year-on-year increase was caused mainly by higher investments in our technology transformation made under our Forward ’28 strategy and staff costs that were impacted by wage inflation. Costs related to financial crime prevention and legacy remediation decreased in line with our plan for a normalisation of costs, and together with prudent cost management, this led to an improvement in the cost/income ratio to 46% from 49%.

    Loan impairment charges amounted to a net reversal of DKK 543 million, reflecting strong credit quality and modest impairments against single-name exposures coupled with a review of post-model adjustments. We continue to apply significant post-model adjustments as well as a scenario-based macroeconomic model to cater for potential tail risks that are not evident in our portfolio. Overall, the macroeconomic environment improved during 2024 and was characterised by lower inflation, lower interest rates and an enhanced growth momentum.

    Overall, we ended the year with the same positive momentum that we saw in the first nine months of 2024. This resulted in record-high net profit of DKK 23.6 billion, up 11% from 2023.

    “The first year of execution of our Forward ’28 strategy, 2024 was an important year for Danske Bank’s financial performance: With income growth driven by our growing core income as well as our continued efforts to support customers and drive the commercial momentum, net profit represents a record-high result,” says Stephan Engels, Chief Financial Officer.
    We continue to create value to the benefit of our customers, our shareholders and society: Our tax expense amounted to DKK 7.6 billion, and given our strong capital position, and in line with the Forward ’28 strategy, the financial year 2024 enables us to make a significant payout to our shareholders.

    Delivering on capital distribution
    Given our strong balance sheet, and as planned in the Forward ’28 strategy, the financial year 2024 yields a significant payout to our shareholders. We paid a dividend of DKK 7.50 per share in connection with the interim report for the first half of 2024, and we propose a dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share. Furthermore, on 6 December 2024, we announced a special dividend of DKK 6.50 per share following the successful transfer of the personal customer business in Norway. In total, our distribution for 2024 amounts to DKK 28.70 per share.

    It remains crucial for us to create value for all our stakeholders, including our shareholders, customers, employees and the societies we are part of, and as a bank we need to attract capital from shareholders to lend and do business. Besides large institutional investors, our capital distribution benefits most major pension funds in Denmark as well as private individuals in Denmark, who have invested part of their savings in Danske Bank shares. In total, we have more than a quarter of a million investors, of which more than half are private individuals in Denmark.

    Danske Bank’s dividend policy for 2025 remains unchanged, targeting a dividend payout of 40-60% of net profit in the form of annual dividend payments.

    Share buy-back
    The share buy-back programme launched in February 2024 of DKK 5.5 billion was completed in January 2025.

    On the basis of the financial results for 2024, the Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion, taking the total payout ratio to 100% of net profits when including the dividend for 2024 but excluding the special dividend related to the transfer of the personal customer business in Norway. The programme, which has been approved by the Danish Financial Supervisory Authority, will start on 10 February 2025.

    Outlook for 2025
    We expect net profit for 2025 to be in the range of DKK 21-23 billion.
    The outlook is subject to uncertainty and depends on economic conditions.

    Danske Bank

    Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00

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

    Attachments

    The MIL Network –

  • MIL-OSI United Kingdom: Keep your heart healthy this February with the blood pressure monitor 7 February 2025 Blood pressure monitor loan scheme

    Source: Aisle of Wight

    In September 2024 the Isle of Wight Council launched its blood pressure monitor loan scheme. High blood pressure puts extra strain on your heart, checking your blood pressure is a positive step you can take. Residents could visit one of the council libraries and borrow a blood pressure monitor for free.  

    The scheme has gone so well that the council is now also making this service available in East Cowes Library, in addition to six other libraries which are, 

    There have been nearly 80 loans to date, allowing people to help monitor their blood pressure in the comfort of their own home. Should individuals have any concerns they should consult/ access appropriate help and support from a medical professional.  

    Teams from within the libraries have given some great feedback on the scheme so far.  

    Staff at Ventnor Library said: “Our customers think the service is wonderful and they can’t believe that it’s free! When they need to monitor their blood pressure, they just go to the library and borrow one. No wait and no fuss.” 

    Ryde Library staff said “Customers are delighted by this new service available from the library. They’re really grateful to be able to borrow a blood pressure monitor for free. It’s so easy to use at their leisure in the comfort of their own homes.” 

    Councillor Debbie Andre, Cabinet Member for Adult Social Care and Public Health commented ‘’We’re really pleased with the response and use of the blood pressure monitor scheme so far. February is Heart Month, and we want to encourage as many people as possible to take advantage of this amazing offer.’’ 

    Simon Bryant, Director of Public Health for the Isle of Wight added ‘’we are really pleased at how well the blood pressure monitor loan scheme has been received by residents on the Island. We know that high blood pressure is a major cause of heart disease but often has no symptoms. Around 1 in 4 people will have high blood pressure without knowing it. Knowing your blood pressure means being able to make the lifestyle changes and or get the help needed to bring blood pressure down to a healthy level. 

    The free to loan monitors are available to Island residents over the age of 18 years old who hold a valid library membership. If you are not a member of your local library it takes just a few minutes on arrival, just bring along a photo ID.  

    Residents can also visit their local pharmacy and enquire about a free blood pressure check.  

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Hop inside Miffy’s world as museum celebrates iconic character’s birthday

    Source: City of Leeds

    One of the world’s most beloved bunnies has hopped into Leeds City Museum this week, inviting visitors to celebrate a very special birthday.

    From Friday (Feb 7) museum-goers can step inside the world of international phenomenon Miffy, the adorable rabbit created by Dutch artist and illustrator Dick Bruna, as the iconic character marks her 70th anniversary with a new exhibition.

    The exhibition features a collection of screen prints, films, pencil drawings, paintings, original book designs and Miffy merchandise from across the world alongside stop motion models from the TV series Miffy and Friends.

    The interactive exhibition, which is free to visit, will bring Miffy to life through giant versions of some of the illustrated icon’s most popular books, inviting visitors to enter Miffy’s world, play hide and seek among the trees and use their imaginations to create their own stories using puppets, drawings and colour.

    A collaboration with Mercis, the global brand owner of Miffy, the concept for the exhibition began in 2022 when Leeds Museums and Galleries won a prestigious European award for its learning programmes.

    The trophy awarded to the service was a bronze sculpture of Miffy created by Dick Bruna’s youngest son, Marc Bruna.

    Matt Storey, Leeds City Museum’s principal keeper, said: “It’s a real joy to welcome such a world-famous character to Leeds and for the museum to be playing an important part in celebrating 70 years of both Miffy and Dick Bruna’s unique art, life and legacy.

    “As well as marking a huge milestone for Miffy, the exhibition is a great chance for families to come together at the museum and step into a world of play and imagination which they can explore and be inspired by.”

    Originally created on June 21, 1955, Bruna first drew Miffy to entertain his young son whilst on a rainy seaside holiday in Holland, telling him stories about a rabbit which ran around the garden of their holiday home.

    The acclaimed series of picture books which followed used simple illustrations and rhyming text to explore universal childhood themes, with Miffy becoming globally synonymous with friendship, innocence, fun and design.

    Councillor Salma Arif, Leeds City Council’s executive member for adult social care, active lifestyles and culture, said: “This exhibition is a fantastic opportunity for different generations to come together at the museum and celebrate a character who has been a part of so many childhoods all across the world.

    “Leeds City Museum is the ideal place for such a family-friendly exhibition and we’re really looking forward to welcoming families in the coming months.”

    The Leeds City Museum exhibition will run from February 7 until September 7, 2025, and is free to visit.

    A programme of Miffy themed events and activities will take place throughout February half term and the museum will be celebrating Miffy’s official birthday in June.

    After Leeds, the exhibition will move to Time and Tide Museum of Great Yarmouth Life.

    For more details, please visit: Miffy’s 70th Birthday | Leeds Museums and Galleries | Days out and exhibitions

    ENDS

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Report highlights work in Leeds to meet increasing demand for foster carers

    Source: City of Leeds

    A new report has highlighted the extensive work in Leeds to recruit and support foster carers as the city strives to meet an ever-increasing demand for placements to help change the lives of looked after children.

    The annual fostering report, to be discussed by senior councillors at next Wednesday’s executive board meeting (February 12), gives an update of the innovative work and progress of services that support the city’s foster and kinship carers.

    Leeds City Council’s fostering service, Foster 4 Leeds, plays a crucial role in supporting over 400 fostering placements and 350 children living with kinship or connected carers across Leeds.

    However, as is the case nationally, the need for more foster carers is continuing to rise and recruitment is a significant priority in Leeds.

    This year, breakthrough work and plans have included:

    • Successfully recruiting 113 new carers, including 88 new kinship carers, allowing children to remain within their family – a key aim in Leeds wherever possible.
    • A wide-reaching recruitment campaign has also seen expressions of interest significantly increase – with an average of 45 per month from September 2024 onwards. 
    • Recruitment of two new full-time roles to bolster engagement and partnership work to support recruitment and retention of carers.
    • Plans to engage wider communities and recruit carers from ethnically diverse backgrounds, working in conjunction with Child Friendly Leeds in holding ambassadors events to break down barriers and raise awareness of the opportunities.
    • The launch of a new dedicated Foster 4 Leeds website, showcasing benefits and detailed information on the different types of fostering available.
    • A new ‘reunification’ service – which aims to reunite children with their birth families, while supported by foster carers – is now up and running and is supporting children to be safely returned home.
    • A full programme of enrichment activities and family fun days for foster families running throughout the year, particularly enhanced during school holidays when two to three activities are held each week. More opportunities will also soon be on the way, after the service held a network event with over 70 local and national companies and organisations offering their support to further boost benefits for foster carers and their families in Leeds.

    Councillor Helen Hayden, Leeds City Council’s executive member for children and families, said: “Children do their best living in families and these proposals go a long way to enhance the health and wellbeing of our looked after children and ensure they grow and thrive in family environments.

    “We are utterly committed to supporting all carers in this vital role and enabling fostering to be a rewarding experience, giving a real purpose to truly help change lives.

    “I would encourage anyone interested to please take a look at our new website and consider joining our incredible legion of foster and kinship carers who provide that crucial consistency in care for our city’s vulnerable children.

    “Being able to place children within Leeds has many benefits – not least enabling young people to retain strong relationships with their birth family, continue at school and access all the benefits of living within our child friendly city.”

    To view the annual fostering report being considered by the executive board visit Council and democracy (agenda item 10).

    For more information on fostering in Leeds, please visit: Foster 4 Leeds | Foster 4 Leeds.

    ENDS

    For media enquiries please contact:

    Leeds City Council communications and marketing,

    Email: communicationsteam@leeds.gov.uk

    Tel: 0113 378 6007

    MIL OSI United Kingdom –

  • MIL-OSI China: The Spring Festival: A global gateway to understanding China

    Source: People’s Republic of China – State Council News

    BEIJING, Feb. 7 — As the world ushers in the Year of the Snake on the Chinese lunar calendar, the Spring Festival has expanded beyond its traditional roots to become a global phenomenon, offering a window through which people around the world can learn about China’s cultural ethos and contemporary dynamism.

    To mark the Chinese New Year, the London Eye was lit up in auspicious red, while Dubai’s Burj Khalifa dazzled with festive projections. Global iconic landmarks joined China in celebrating a millennia-old tradition. Additionally, the festival’s global imprint extends beyond the lights: dragon dances, temple fairs and other activities were held across the world.

    This year’s Spring Festival is the first since its inscription on the UNESCO intangible cultural heritage list. The Chinese New Year is becoming a festival celebrated across the world. As nearly 20 nations recognize the Spring Festival as an official holiday and some 200 countries hold celebrations, this cultural event reflects humanity’s shared yearning for renewal and connection.

    China’s expanded visa-free travel policies have amplified this cultural exchange, enabling more international travelers to visit China and immerse themselves in the festival’s rich customs.

    Foreign visitors have experienced not just festive fireworks, but the profound values embedded in the tradition: familial bonds that transcend borders, the harmony between humanity and nature, and an emphasis on social cohesion. These values resonate across cultures, dismantle stereotypes and nurture mutual cultural appreciation.

    “The Spring Festival Gala,” an annual TV program broadcast live and watched by billions worldwide, epitomizes China’s cultural appeal. The 2025 gala featured the performances of U.S. band OneRepublic and Peruvian artists, demonstrating artistic dialogue between East and West.

    The televised extravaganza also offers a glimpse of the integration of tradition and modernity as well as technological progress in the country. AI-powered robots performed a synchronized dance in embroidered jackets during the show, showcasing China’s fusion of heritage and cutting-edge technology, and the openness, inclusiveness and innovation of Chinese culture.

    Beyond culture, this year’s Spring Festival illuminated China’s economic resilience amid global economic headwinds.

    The eight-day holiday saw year-on-year increases in tourist numbers and expenditure, as well as record box office revenue. Boosted by trade-in programs and other policies, the sales of home appliances and communication equipment at key retailers jumped during the festival, reflecting the vibrancy of China’s consumption market.

    In Chinese culture, the snake symbolizes agility, wisdom and vitality. As the world is fraught with growing uncertainties and regional frictions, the Spring Festival, an age-old tradition that perpetually rejuvenates itself, serves as a unique portal to a dynamically evolving China.

    Moreover, the values enshrined within the Spring Festival not only act as a guiding light for individuals, but also hold the potential to foster deeper mutual understanding among different cultures and promote world peace and prosperity.

    MIL OSI China News –

  • MIL-OSI China: China’s homegrown AG600M amphibious aircraft complete first test flights in year of Snake

    Source: People’s Republic of China – State Council News

    China’s homegrown AG600M amphibious aircraft complete first test flights in year of Snake

    XI’AN, Feb. 7 — Three AG600M “Kunlong” large amphibious aircraft, independently developed by the Aviation Industry Corporation of China (AVIC), have concluded another round of test flights recently, marking a critical step toward airworthiness certification, AVIC has announced.

    With the support of some 500 members of the aircraft research team, the mission was carried out on Monday at the AVIC civil aircraft test flight center in Pucheng, northwest China’s Shaanxi Province. Throughout the process, the three aircraft underwent rigorous assessment tests, including flight control failure simulations, ice formation condition tests, and checks following upgrades to its avionics systems.

    All three planes safely returned to the tarmac after completing the mission, AVIC said on Thursday.

    These tests validated the aircraft’s performance and safety, laying a solid foundation for subsequent airworthiness certification efforts, it said.

    The AG600 family of amphibious aircraft is a cornerstone of China’s efforts to bolster its emergency response capabilities. Designed to meet civil airworthiness standards, it is the country’s first homegrown large special-purpose aircraft of such kind for firefighting, maritime rescue, and disaster relief operations.

    As an upgraded variant, the AG600M boasts enhanced performance: a maximum takeoff weight of 60 tonnes, a 12-tonne water-carrying capacity, and a fight range of 4,500 kilometers. Its low-speed, short-runway capabilities make it ideal for complex missions, such as dousing wildfires or conducting open-sea rescues.

    The AG600M prototype completed its first test landing on land in May 2022, followed by a successful landing on water for the first time in August that same year.

    MIL OSI China News –

  • MIL-OSI China: Xi Jinping’s vision drives China’s winter sports boom

    Source: People’s Republic of China – State Council News

    BEIJING, Feb. 6 — As winter settles across China, excitement for winter sports is in full swing, with skiers carving down slopes and ice skaters gliding across rinks from north to south. Enthusiasm is especially high as the 9th Asian Winter Games opens Friday in Harbin, marking another milestone for China’s winter sports development.

    At the heart of this movement is Chinese President Xi Jinping, whose lifelong passion for sports has fueled the rapid expansion of winter activities nationwide.

    The foundation for this boom was laid more than a decade ago when Xi, attending the Sochi Winter Olympics, met with International Olympic Committee (IOC) President Thomas Bach. During their meeting, Xi set an ambitious goal: to engage 300 million people in winter sports. That vision has since become a reality.

    By April 2024, following the Beijing 2022 Winter Olympics, around 313 million people – over 22% of China’s population – had actively participated in ice and snow activities.

    FROM CHILDHOOD PASSION TO NATIONAL LEGACY

    Xi’s love for winter sports dates back to his childhood. In the 1950s and 1960s, skating on Beijing’s Shichahai Lake was a popular winter pastime. Young Xi often rushed home from school to skate on the frozen lake.

    That early connection to winter sports evolved into a national mission. Historically, winter sports in China were largely confined to the colder northern regions and were practiced in harsh conditions. Xi sought to change that.

    From the successful bid for the 2022 Beijing Winter Olympics to the Games’ execution, Xi played a leading role. Between 2015 and 2022, he visited Olympic venues in Beijing and Zhangjiakou five times, overseeing venue construction, management, and volunteer operations. During a 2021 inspection visit, he emphasized using the Winter Olympics as a catalyst to elevate the nation’s ice and snow sports culture.

    Beijing’s hosting of the Winter Games proved transformative. Today, seniors and children alike are skating and skiing in places where snow was once rare. Increased investment in facilities has made winter sports more accessible and affordable.

    By the end of 2023, the number of winter sports venues in China had reached 2,847, a 16.1% year-over-year increase, with new facilities even emerging in southern regions.

    Xi’s vision for China’s winter sports development has reshaped the landscape. From his childhood struggles to afford skates to today’s youth training in state-of-the-art facilities, the progress is evident.

    “You now have excellent training facilities and a wonderful environment to strengthen your bodies and foster teamwork and bravery,” Xi told young ice hockey players in 2017. “The future of China’s ice and snow sports depends on your generation.”

    RISE OF ICE AND SNOW ECONOMY

    The 9th Asian Winter Games, running from February 7 to 14 in Harbin, highlights China’s growing influence in global winter sports.

    Xi has described the ice and snow industry as a “mountain of gold and silver,” emphasizing the need to leverage natural winter resources. His vision includes a comprehensive winter sports economy encompassing equipment manufacturing, tourism, and cultural industries.

    China’s ice and snow economy is projected to exceed 1 trillion yuan (about 138 billion U.S. dollars) in 2025, with estimates reaching 1.2 trillion yuan by 2027 and 1.5 trillion yuan by 2030.

    Last winter, China recorded more than 385 million winter leisure visits, a 38% year-over-year increase, with related revenue rising 50%.

    Harbin, one of China’s top winter tourism destinations, welcomed 87 million visitors – up 300% year-over-year – generating 124.8 billion yuan in tourism revenue, a 500% increase.

    China’s winter sports equipment industry is also expanding, bolstered by advancements in 5G, artificial intelligence, and virtual reality. The country now produces a full range of 15 ice and snow equipment categories, with innovations such as smart ski insoles, heated snow boots, and VR skiing simulators.

    In 2023, Xi visited a village in Mohe, China’s northernmost city, and emphasized the importance of utilizing snow and ice resources for economic growth. Today, the village has become a top destination for southern tourists, reflecting a broader trend across the country.

    Chongli, Hebei province, is a prime example of this transformation. Once a poverty-stricken area, it has become a world-renowned ski resort, with one in four locals now employed in winter sports-related jobs.

    “The ultimate goal of building a sporting powerhouse and a healthy China is to strengthen people’s fitness,” Xi said. “This is also an essential part of China’s effort to build a modern socialist country in all respects.”

    STRONGER GLOBAL TIES THROUGH WINTER SPORTS

    Xi’s leadership in winter sports has not only transformed China’s ice and snow culture but has also fostered international cooperation. Through strategic policies and personal commitment, he has positioned sports as a bridge for global friendship and mutual understanding.

    In August 2023, Xi wrote to the U.S.-China Youth and Student Exchange Association and friendly personages in the U.S. state of Washington, stating, “Sport is a bond that promotes friendship among peoples.” This principle has guided China’s efforts to use winter sports as a tool for diplomacy.

    During a 2017 visit to Finland, Xi and then-Finnish President Sauli Niinisto met with Chinese and Finnish winter athletes, highlighting the role of sports in strengthening bilateral relations. Similarly, in 2018, Xi and Russian President Vladimir Putin watched a youth ice hockey match in Tianjin, reinforcing China-Russia ties.

    Beyond individual partnerships, China has collaborated with multiple Asian nations to promote winter sports by sharing expertise, resources, and experiences. The upcoming Asian Winter Games exemplifies this spirit of unity and cooperation, with Cambodia and Saudi Arabia making their debut at the Games.

    At the 2022 Beijing Winter Olympics, Xi underscored how the Games fostered global unity during challenging times. “It has also brought confidence and hope to a world overshadowed by instability,” he said, reinforcing the Games’ motto: “Together for a Shared Future.”

    Xi’s contributions have long been recognized by the international sports community. IOC Vice President Juan Antonio Samaranch Jr. praised his leadership, saying, “It’s great to have such an important partner for sports and international Olympic matters.”

    Bach also commended Xi as a “true champion” with a clear vision for the role of sports in society.

    MIL OSI China News –

  • MIL-OSI: Municipality Finance issues a GBP 25 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    7 February 2025 at 10:00 am (EET)

    Municipality Finance issues a GBP 25 million tap under its MTN programme

    On 10 February 2025 Municipality Finance Plc issues a new tranche in an amount of GBP 25 million to an existing benchmark issued on 4 October 2023. With the new tranche, the aggregate nominal amount of the benchmark is GBP 275 million. The maturity date of the benchmark is 2 January 2026. The benchmark bears interest at a fixed rate of 5.000 % per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 10 February 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    NatWest Markets N.V. acts as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the Republic of Finland. The Group’s balance sheet totals over EUR 50 billion.

    MuniFin builds a better and more sustainable future with its customers. Our customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Municipality Finance issues GBP 14,6 million notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    7 February 2025 at 10:00 am (EET)

    Municipality Finance issues GBP 14,6 million notes under its MTN programme

    Municipality Finance Plc issues GBP 14,6 million notes on 10 February 2025. The maturity date of the notes is 10 February 2026. The notes bear interest at a fixed rate of 4.30% per annum.

    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 10 February 2025.

    Morgan Stanley & Co. International plc acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.
    The Group’s balance sheet totals over EUR 50 billion.

    MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI Russia: Marat Khusnullin: Russia’s construction complex is developing scientific, technical and educational infrastructure of universities

    Translartion. Region: Russians Fedetion –

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

    Moscow State University of Civil Engineering

    February 6, 2025

    Moscow State University of Civil Engineering

    February 6, 2025

    Previous news Next news

    Moscow State University of Civil Engineering

    The creation of modern conditions for education and research activities in Russian higher education institutions is an important part of the work of the Russian construction complex. High-quality infrastructure attracts talented students and scientists, promotes innovation and strengthens the positions of universities. Ultimately, this is a contribution to the future of the country, because it is within the walls of universities that specialists are trained who will move science and the economy forward, noted Deputy Prime Minister Marat Khusnullin.

    On the instructions of President Vladimir Putin, a network of world-class university campuses is being created in Russia. One of these projects will be implemented at the Moscow State University of Civil Engineering.

    “NRU MGSU is a flagship university in the construction industry. It has recently been included in the list of universities that provide training for engineering personnel and scientific developments for the country’s technological leadership. It has become the basic organization of the CIS member states for training and advanced training for personnel in the construction and housing and communal services industries. Last year, the university held the most successful admissions campaign in recent years. The passing scores for state-funded programs have increased significantly in a number of specialties. MGSU entered the top 10 universities in Moscow and the Moscow region in terms of the dynamics of the quality of state-funded admission. President Vladimir Vladimirovich Putin supported the project to create a world-class campus on the basis of NRU MGSU. And today, the development of design and estimate documentation for the construction of two blocks of the educational and scientific cluster has already begun. Architectural and planning solutions have been agreed upon with the university,” said Deputy Prime Minister, Chairman of the Board of Trustees of NRU MGSU Marat Khusnullin.

    The construction of the campus facilities of the National Research Moscow State University of Civil Engineering is planned to be carried out in two stages until 2035. Within the first stage, three blocks of the educational and scientific cluster, a sports and recreation complex, an ice arena, and a student dormitory will be built. The area of the new facilities will be more than 172 thousand square meters, facilities with an area of more than 10 thousand square meters will be reconstructed, and major repairs of the existing buildings of the National Research Moscow State University of Civil Engineering are planned.

    Currently, design and estimate documentation is being developed for blocks “A” and “B” with an area of over 69 thousand square meters, which will house advanced research and educational spaces, coworking spaces, creative workshops and public catering areas.

    “When the campus is ready, it will be possible to implement a full innovation cycle on the basis of NRU MGSU, from the idea to the implementation of techniques and technologies, digital solutions, designs and materials in the construction industry and housing and communal services. I am sure that this will help popularize construction professions, achieve national goals and implement national projects,” Marat Khusnullin emphasized.

    In addition, work continues on the construction of university campuses on the premises of other universities. For example, as part of the Oryol State University named after I.S. Turgenev, the public-law company “Unified Customer in the Sphere of Construction” is constructing an educational and laboratory building and a dormitory complex.

    “The construction of the dormitory complex, consisting of three buildings, started in the summer of 2024. Currently, builders are actively performing monolithic work at the site; the construction of structures is already 60% complete. About 1,500 students will be able to live in comfortable conditions. The buildings will also have gyms, rooms for independent study and leisure,” the Deputy Prime Minister noted.

    The educational and laboratory building with an area of over 27 thousand square meters will house a prototyping and reengineering center, an auditorium, a library and other premises. The student campus will become a modern open space for education, science and business.

    Three more campuses are currently being built by Unified Customer in Yekaterinburg, Novosibirsk and Kaliningrad.

    At the same time, the Russian construction complex is developing the infrastructure of other universities that were not included in the world-class campus program. Including those facilities whose construction was delayed.

    Thus, the construction of five educational and laboratory buildings of the Crimean Federal University named after V.I. Vernadsky in Simferopol began in 2019 and 2022, but was suspended. In 2024, the construction was entrusted to the PPK “Unified Customer”. As reported by Marat Khusnullin, monolithic work has been completed in the building of the educational building of the Institute of Foreign Philology. More than one thousand students and teachers will be able to study and work in this building.

    “The eight-story building of the Institute of Foreign Philology will house classrooms and lecture halls, modern computer rooms, a reading room with an archive, a buffet with a dining room for 48 people, teachers’ offices, as well as a center for the language cultures of the small peoples of Crimea and other premises. The construction of the building is planned to be completed and equipped with modern technological equipment in 2026,” said Karen Oganesyan, General Director of the Unified Customer PPC.

    In addition, KFU continues construction of buildings for the Physics and Technology Institute, student center, administrative building, and the Architecture and Civil Engineering Academy. The total area of the buildings is over 46 thousand square meters.

    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 –

  • MIL-OSI: Progress in customer activity as well as core banking activities continued, and credit quality remained strong – Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%

    Source: GlobeNewswire (MIL-OSI)

    Press release Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    7 February 2025

    Progress in customer activity as well as core banking activities continued,
    and credit quality remained strong
    Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%
    Dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share, in total DKK 14.7 per share
    The Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion

    Danske Bank has announced its financial results for 2024.
    Carsten Egeriis, Chief Executive Officer, comments on the financial results:

    “For Danske Bank, 2024 was a year in which we consistently delivered positive results from quarter to quarter, driven by increased customer activity, continually strong credit quality and a sustained, dedicated effort from the entire organisation. Consequently, we maintained our positive commercial momentum, resulting in a solid financial performance.

    One year into the execution of our Forward ’28 strategy, we have made substantial progress within our technology transformation and customer engagement, and we can see that our investments in enhancing the customer experience have resulted in increasingly positive customer satisfaction scores.

    Our continued focus on cost discipline and on maintaining strong credit quality resulted in two upward adjustments of our financial guidance in 2024. On the basis of our strong financial results and solid capital position, the total distribution in 2024 amounts to 100% of net profit, thus honouring the commitment we have made to our shareholders.

    With our advanced customer offerings, deep expertise and solid financial position, Danske Bank is strongly positioned to create value for customers, shareholders and society. In a time of heightened geopolitical uncertainty, rapid technological shifts and increasing sustainability challenges, we will continue to focus on opportunities and solutions for households and businesses alike.”

    The annual report is available at www.danskebank.com. Highlights are shown below:

    2024 vs 2023
    Total income of DKK 56.4 billion (up 8%)
    Operating expenses of DKK 25.7 billion (up 1%)
    Loan impairments of DKK -543 million (2023: DKK 262 million)
    Net profit of DKK 23.6 billion (up 11%)
    Return on shareholders’ equity of 13.4% (2023: 12.7%)
    Strong capital position, with a CET1 capital ratio of 17.8% (2023: 18.8%). The ratio reflects strong capital generation and the full deduction of the announced 40% additional capital distribution.
    Solid progress towards Forward ’28 ambitions and 2026 targets
    2024 was the first full year of our Forward ’28 strategy, and we are well-positioned for future growth as we maintain our trajectory towards strengthening our position as a leading bank in the Nordic region and make significant investments in our customer offerings.

    For personal and private banking customers, with Forward ’28, a sharpened focus in each of our markets has allowed us to further strengthen our relations with existing customers and attract new ones. For business and institutional customers, we want to be a leading bank in the markets in which we operate. Our approach focuses on meeting evolving market demands while fostering high long-term customer and employee satisfaction.

    Significant progress with our technology transformation paved the way for a better customer experience and improved efficiency. In 2024, we made substantial progress in terms of using digitalisation, data, AI and technology to improve customer engagement while reducing costs and operational risks. We developed a new version of our District online banking platform that is tailored to small businesses and is expected to launch in Denmark in the first half of 2025. We also launched a new welcoming app that makes it both easier and faster to become a personal customer with us.

    Across the bank, we have made GenAI a strategic priority, and our GenAI-powered solutions offer key opportunities to unlock productivity gains. During 2024, we launched DanskeGPT, which has been adopted by almost 16,000 users across the organisation, corresponding to 74% of all employees. We have also deployed GenAI-powered tools for our software developers, and these tools are driving solid productivity improvements.

    In 2024, Danica developed its new commercial strategy, Forward ’28 – Danica, which aims to make Danica the preferred pension company in Denmark by 2028. The strategy, which took effect on 1 January 2025, focuses on the importance of making customer interactions with Danica easy and convenient through digital solutions and on offering comprehensive healthcare offerings, attractive returns and quality advice. These elements are expected to be key growth drivers over the next few years. The strategy aligns with the strategic direction set in Danske Bank’s Forward ’28 strategy, underscoring the significant potential in synchronising services between the bank and the pension business.

    As the success of our strategy relies on solid execution, we have a significant focus on our employees, supported by investments in development activities, leadership and the workplace. Employee satisfaction and engagement scores continued to improve from already high levels and are now above the industry benchmark.

    Sustainability is a key focus area in Forward ’28, and our ambition is to be a leading Nordic bank in terms of supporting the sustainability transition of customers, businesses and the Nordic societies that we are a part of. Our efforts are reinforced by new ESG advisory services, comprehensive staff training, recruitment of specialists and strategic partnerships, all aimed at supporting our customers’ sustainability transition. In line with European regulation, for the 2024 annual report, Danske Bank has prepared a sustainability statement in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

    Better-than-expected macroeconomic conditions
    Macroeconomic conditions developed more favourably than expected in the markets in which we operate. Especially in Denmark, the inflation and growth outlook improved during the year, and this development is forecast to continue as central banks continue their easing trajectories, leading to lower rates for both households and businesses. Although the growth outlook has improved broadly speaking in the Nordic region, the uncertainty related to Europe’s long-term growth prospects and ability to innovate persists.

    In times of uncertainty for both Danske Bank and our customers, our well-capitalised balance sheet has enabled us to be a strong financial partner for our customers, and we have continued to support them with risk management expertise and expert advice.

    Strong financial performance
    An improved commercial momentum in our business, supported by better-than-expected macroeconomic conditions and strong credit quality have enabled us to strengthen profitability and generate record-high net profit. The return on equity thus increased from 12.7% to 13.4%, highlighting our positive trajectory and progress towards our 2026 targets.

    In 2024, total income grew 8%, driven by a sustained uplift in core banking income. Despite central bank rate cuts and lower deposit margins as well as overall muted credit demand, net interest income showed the expected strong development, with increasing net interest income throughout the year. Net fee income continued the positive traction throughout the year, reflecting our overall strong development and ability to do more business with existing customers and to attract new customers. We saw a higher level of fee income from cash management products, and customer activity generally remained high. Furthermore, we saw an increase in investment fees generated by strategic investments in our private banking offerings as well as a strong development in fees from asset management.

    Net trading income remained stable, and net income from insurance business benefited from stable financial markets, with the health and accident business continuing to be challenged, however.

    Operating expenses developed according to plan and were at the same level as in 2023. The minor year-on-year increase was caused mainly by higher investments in our technology transformation made under our Forward ’28 strategy and staff costs that were impacted by wage inflation. Costs related to financial crime prevention and legacy remediation decreased in line with our plan for a normalisation of costs, and together with prudent cost management, this led to an improvement in the cost/income ratio to 46% from 49%.

    Loan impairment charges amounted to a net reversal of DKK 543 million, reflecting strong credit quality and modest impairments against single-name exposures coupled with a review of post-model adjustments. We continue to apply significant post-model adjustments as well as a scenario-based macroeconomic model to cater for potential tail risks that are not evident in our portfolio. Overall, the macroeconomic environment improved during 2024 and was characterised by lower inflation, lower interest rates and an enhanced growth momentum.

    Overall, we ended the year with the same positive momentum that we saw in the first nine months of 2024. This resulted in record-high net profit of DKK 23.6 billion, up 11% from 2023.

    “The first year of execution of our Forward ’28 strategy, 2024 was an important year for Danske Bank’s financial performance: With income growth driven by our growing core income as well as our continued efforts to support customers and drive the commercial momentum, net profit represents a record-high result,” says Stephan Engels, Chief Financial Officer.
    We continue to create value to the benefit of our customers, our shareholders and society: Our tax expense amounted to DKK 7.6 billion, and given our strong capital position, and in line with the Forward ’28 strategy, the financial year 2024 enables us to make a significant payout to our shareholders.

    Delivering on capital distribution
    Given our strong balance sheet, and as planned in the Forward ’28 strategy, the financial year 2024 yields a significant payout to our shareholders. We paid a dividend of DKK 7.50 per share in connection with the interim report for the first half of 2024, and we propose a dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share. Furthermore, on 6 December 2024, we announced a special dividend of DKK 6.50 per share following the successful transfer of the personal customer business in Norway. In total, our distribution for 2024 amounts to DKK 28.70 per share.

    It remains crucial for us to create value for all our stakeholders, including our shareholders, customers, employees and the societies we are part of, and as a bank we need to attract capital from shareholders to lend and do business. Besides large institutional investors, our capital distribution benefits most major pension funds in Denmark as well as private individuals in Denmark, who have invested part of their savings in Danske Bank shares. In total, we have more than a quarter of a million investors, of which more than half are private individuals in Denmark.

    Danske Bank’s dividend policy for 2025 remains unchanged, targeting a dividend payout of 40-60% of net profit in the form of annual dividend payments.

    Share buy-back
    The share buy-back programme launched in February 2024 of DKK 5.5 billion was completed in January 2025.

    On the basis of the financial results for 2024, the Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion, taking the total payout ratio to 100% of net profits when including the dividend for 2024 but excluding the special dividend related to the transfer of the personal customer business in Norway. The programme, which has been approved by the Danish Financial Supervisory Authority, will start on 10 February 2025.

    Outlook for 2025
    We expect net profit for 2025 to be in the range of DKK 21-23 billion.
    The outlook is subject to uncertainty and depends on economic conditions.

    Download the Annual Report as zip here.

    Danske Bank

    Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00

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

    Attachments

    The MIL Network –

  • MIL-OSI USA: Cramer, Sullivan Introduce Legislation to Strengthen U.S. Missile Defense Capabilities

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)

    PARCS Radar in Cavalier Central to the Mission

    ***Click here to download audio.***

    WASHINGTON, D.C.  – Missile defense plays a key role in deterring and defeating adversary ballistic missiles and other threats against the United States, its allies, and American military forces overseas. In January, President Donald Trump signed an Executive Order (EO) to build an Iron Dome for America, similar to Israel’s Iron Dome. The EO directs the implementation of a “next-generation missile defense shield for the United States against ballistic, hypersonic, advanced cruise missiles, and other next-generation aerial attacks.” 

    U.S. Senator Kevin Cramer (R-ND), chair of the Senate Armed Services (SASC) Airland Subcommittee and co-chair of the Defense Modernization Caucus, joined U.S. Senator Dan Sullivan (R-AK), a fellow SASC member, in introducing the Increasing Response Options and Deterrence of Missile Engagements (IRON DOME) Act today. The legislation will improve the missile defense capabilities of the United States.

    Among other provisions, the bill requires the acceleration of the modernization and digitization of the Perimeter Acquisition Radar Attack Characterization System (PARCS), located at North Dakota’s Cavalier Space Force Station. PARCS is a single-faced, multi-function, UHF-Band, phased-array radar system which tracks over half of all earth-orbiting objects. The modernization of PARCS improves detection of intercontinental and sea-launched missile threats, as well as improve space domain awareness capabilities.

    “Now more than ever, we have to ensure the United States is properly equipped to address the pressing threats that are posed by our very capable adversaries,” said Cramer. “Protecting the homeland is obviously our first Constitutional duty. The IRON DOME Act forces modernization of our missile defense systems from Alaska to North Dakota to Maine to Florida to California and back up to Alaska. This will ensure that we’re never caught off guard from a modern missile attack on our homeland.” 

    “For decades, American missile defense strategy has focused on protecting our country from ballistic missile threats posed by rogue nations or accidental launches from a peer nation,” said Sullivan. “We’ve made significant progress in recent years to strengthen this capability, notably through the implementation of my bipartisan 2017 Advancing America’s Missile Defense Act. But the proliferation of new hypersonic and cruise missile threats from our adversaries demands that we change this paradigm. Senator Cramer and I are introducing legislation to build a homeland missile defense system that can protect our country from the intensifying threats and growing arsenals of China and Russia. The IRON DOME Act dovetails with and reinforces President Trump’s historic ‘Iron Dome for America’ EO and builds upon a number of the recommendations from the 2022 Missile Defense Review. Specifically, our legislation invests billions of dollars to develop new capabilities, like space-based sensors and new intercept technologies, significantly expand and modernize existing infrastructure, like the ground-based missile interceptor fields at Alaska’s Fort Greely and North Dakota’s PARCS radar system, and integrate all aspects of U.S. missile defense, including Aegis. I urge my colleagues to join us in this initiative to meet the evolving missile threats on the horizon and deliver greater security for all Americans.”

    Click here for bill text.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Tunnelling begins at site of Mt Messenger Bypass

    Source: New Zealand Transport Agency

    Tunnelling has begun this week at the Te Ara o Te Ata – Mt Messenger Bypass project in North Taranaki.

    Following an early morning blessing from mana whenua and iwi partner Ngāti Tama, the first cut was made by a 110-tonne road header machine that will excavate the project’s 235-metre tunnel.

    Road headers have boom-mounted telescopic cutting heads, making them ideal for diverse geological conditions.  A shovel plate at the front of the road header collects the excavated rock and soil, which is then conveyed via a belt to dump trucks at the back of the machine.  

    The 235-metre tunnel will be an important part of the Bypass project, contributing to a much more resilient stretch of State Highway 3.

    NZ Transport Agency Waka Kotahi Project Manager Caleb Perry says having the road header onsite is really exciting for the project.

    “We’ll start to see some progress with the road header excavating up to 3 metres every day.

    “The tunnel will be cut in two stages, with the upper portion (top heading) first, followed by the bottom section (bench). At regular intervals, excavation will be paused and ‘shotcrete’ – a sprayed-on concrete – will be applied to the crown and walls to line and support the structure.

    “The design and construction of the tunnel are similar to the Northern Gateway Tunnel in Auckland and the tunnel will be large enough to accommodate loads up to and including house removals – this isn’t something that can currently be accommodated on the steep, narrow winding stretch of SH3.”

    At this stage, the excavation is expected to be completed later this year.

    “The Mt Messenger Bypass will make this stretch of SH3 much more resilient, and safer for all motorists, providing a secure connection through North Taranaki, especially for freight.

    “The finished tunnel will incorporate cultural elements acknowledging Ngāti Tama tūpuna, the traditional guardians of the northern gateway to Taranaki.”

    Backgound

    The Mt Messenger project has named this road header ‘Hinetūparimaunga’ – the atua of mountains and cliffs.

    A design on the side of the roadheader depicts Hinetūparimaunga with outstretched limbs supporting the roof, walls and floor of the underground space. A yellow background represents the light that will flood into the tunnel upon its completion.

    Images: The roadheader and initial progress

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Interview – Afternoon Briefing with Patricia Karvelas

    Source: Australian Executive Government Ministers

    PATRICIA KARVELAS, HOST: To discuss this and more, let’s bring in one of our regulars, Early Childhood Education Minister Anne Aly, who’s also been promoted in the latest reshuffle. Welcome.

    MINISTER ANNE ALY: Thank you so much, Patricia. Great to be with you.

    KARVELAS: We’re going to start there because that’s the big talking point around the world. A bit of clarification from Marco Rubio. Does that sound like a better plan that the US would redevelop Gaza?

    ALY: Well, look, I want to start by first of all, Patricia, if I may, acknowledging the significant pain and distress that this caused to Palestinians across the world, particularly as they’re preparing to return to their homeland. You know, certainly I think there is, there needs to be a concerted effort across the world to rebuild Gaza. And in fact, when I was at the conference in Jordan last year, that was on the table already, the countries that were represented there were talking about psychosocial recovery and rebuilding Gaza – what happens in rebuilding Gaza. So, I think, you know, it will take significant effort from right around the world for rebuilding Gaza. But in terms of, you know, the position that this government has around a two-state solution, inherent in that two-state solution is a self-determination for Palestinian people and the right of return.

    KARVELAS: So, that means that you would never accept Gazans being pushed off or Palestinians being pushed off that land in Gaza.

    ALY: I think the response that we’ve had from across the world to President Trump’s statement yesterday makes it very clear that it is widely accepted that Palestinians have a right of return to their homeland.

    KARVELAS: But you mentioned, which I thought was really interesting. You often say interesting things, Minister —

    ALY: I do, do I?

    KARVELAS: You do, that you want to acknowledge the hurt and the concern because there was.

    ALY: There was right, it was, yeah.

    KARVELAS: Just talk to me about that concern.

    ALY: So, I think, you know, like just even talking to Palestinians in the community and to the community more broadly here in Australia, there was a real sense of shock and a real sense of, yeah, real concern that, you know, this could mean that there would basically an eradication of a Palestinian state when we’ve long held the principle of a two-state solution with a right of return and self-determination for Palestinian people. And I think, you know, if I were a Palestinian person preparing to return to my homeland, one of the things that we want to make sure of in Australia and you know, this government has done that consistently in the votes that we’ve done in the UN and the actions that we’ve taken is to ensure that this current ceasefire is sustainable and long-lasting and that there is an enduring peace for both Palestinians and Israelis.

    KARVELAS: So, given how strong your comments have been about the Palestinians right to return, there has been a criticism that the Prime Minister could have used stronger words. Other foreign leaders who are also allies of the United States have used stronger words. Do you understand that frustration?

    ALY: Look, I listened to the Prime Minister yesterday and I think he was quite correct in reiterating that we have a long-standing position that we’re not changing, which is a two-state solution. And I think, you know, anybody could listen to that and recognise what the Prime Minister is saying is that we believe in the right and we support the right of Palestine and Palestinians and Gazans to exist in their homeland.

    KARVELAS: And now you’re kind of, you know, being pretty empathetic about how people heard that and their ongoing concerns. Is it important that the government makes that clear? Because I saw all those concerns too.

    ALY: Yeah. And I think, I think, you know, we have made it clear, I think —

    KARVELAS: I feel like you’re making it clearer.

    ALY: Well, I think the actions that we’ve taken that the Foreign Minister, Penny Wong, has taken, the votes that we’ve had in the United Nations, have sent a very clear message that we stand for human rights and that we stand for justice and that we stand for a two-state solution and an everlasting peace.

    KARVELAS: I just want to move to some other issues because there are lots of issues in our country.

    ALY: So many.

    KARVELAS: There are. The Australian Federal Police has just spoken in a committee hearing. They have not given any detail as to, basically there’s no answers on when they briefed the Prime Minister on this caravan attack. Shouldn’t the Prime Minister just say it, or the Opposition says, call an inquiry?

    ALY: Well, I think what we need to do here is take the lead from the law enforcement agencies because in an investigation, it’s the law enforcement agencies that take the lead. And we have to, we absolutely have to respect the integrity of the law enforcement agencies and support them to do their work. As you know, Patricia, I’ve got a husband in law enforcement. I know exactly what he can and can’t tell me. Most of the time he can’t tell me anything. Like we do not talk about the investigations that he is undertaking in any capacity. So, when the law enforcement agencies say that we did not want this information out there because it is an ongoing investigation and could compromise the investigation, we need to respect that.

    KARVELAS: But telling the Prime Minister is a different thing.

    ALY: Well, I think, you know, I don’t think it’s here nor there. I’ve not had a single person say to me, hey, I want to know when the Prime Minister found out. So, I think it’s a little bit of a Canberra bubble —

    KARVELAS: Oh, a Canberra story.

    ALY: Yeah.

    KARVELAS: Ok. I don’t want to just labour on that because there are other things Labor did break with your policy, which is a national platform to oppose mandatory sentencing. Former Labor Senator Kim Carr has criticised the party and said, this is profoundly disappointing. What’s your response to that?

    ALY: Okay, so I’ve got a bit of a different response, Patricia, because I know the impact of hate crimes personally and as a member of a community that has been the target of hate crimes. That to me, hate crimes are some of the most heinous crimes. When you target an individual or a group because of who they are, because of their identity, whether it’s religious, racial, gender, sexual, whatever, to me, that’s one of the most heinous and cowardly crimes that you can commit. So, I want to see, I want to see us get tough on hate crimes. I support being tough on hate crimes and I think what we’ve seen recently, the escalation in the kinds of hate crimes that we’ve seen, warrants this kind of action by the Government.

    KARVELAS: So, you want. Instead of – because I know some people in the party are concerned, you want the mandatory sentences.

    ALY: I want to see us to be tough on hate crimes. And you know, I’ve been there. I know, I know the impact that it has. So, I want us to get tough on hate crimes and I know that right now Jewish Australians are the victims of a lot of hate crimes as well. And I want —

    KARVELAS: The Law Council says it’s bad policy.

    ALY: Well, people will have their different opinions. I will also say, though, that, you know, we know laws don’t change behaviour. The prevention of hate crimes and vilification in all its forms is a responsibility for every single person. It’s about societal change as well.

    KARVELAS: Okay, let’s get to some of your issues before we say goodbye. Child care is obviously one of the areas that you focus on. The government has decided to put this bill, which would mean three days of care without activity testing, where you get the rebate, essentially, through the Parliament. Do you expect it to pass in the next fortnight?

    ALY: I do. I hope it will pass [the House]. I know that there is widespread support for this from the sector. It is a recommendation of the PC Review. And you know what? It’s just good policy. It’s good policy that when you have people in a partnership, one works full time, one might work two days a week in casual, and they’re not eligible for subsidised care. It has locked out children from early childhood education and care and locked out families from being able to access the childcare subsidy. It’s good policy. It has good support, and I do, and I look forward to seeing it pass.

    KARVELAS: But it doesn’t have to pass. It doesn’t even start till next year. So, is it a wedge to try and get the Coalition to actively vote against it?

    ALY: Well, I don’t know what the Coalition’s position is —

    KARVELAS: They think that you should have to be earning or, you know, working or studying to get the activity test.

    ALY: Well, the thing is, you can be working or studying to get the activity test but still might not meet the activity test. And the other thing is the activity test, when it was introduced in 2018 by the Liberals, it was supposed to be to increase workforce participation. It did none of that. Instead, it locked out some of the most vulnerable children from early childhood education and care. We’re fixing that. We’re making sure that every child has access to opportunity because there should be no barriers to opportunity.

    KARVELAS: Anne Aly, always a pleasure to speak to you. Thanks for joining us.

    ALY: You too. Thanks so much, Patricia.
     

    MIL OSI News –

  • MIL-Evening Report: Rebels are continuing their march in eastern Congo – what is their long-term goal?

    Source: The Conversation (Au and NZ) – By Amani Kasherwa, School of Nursing, Midwifery and Social Work, The University of Queensland

    In late January, a rebel group that has long caused mayhem in the sprawling African nation of Democratic Republic of Congo took control of Goma, a major city of about 2 million people on the border with Rwanda in the country’s east.

    Nearly 3,000 people were killed in one of the deadliest weeks in the history of this mineral-rich country. The dead include 100 female prisoners who were reportedly raped by male inmates at a prison and then burned alive.

    As someone born and raised in the region, I’ve witnessed first-hand the devastating impact of this protracted war on communities. I’ve been in contact with residents in Goma, who have described unprecedented chaos – looting, criminality and a breakdown of essential services. One resident said:

    I’m feeling unsafe in my own house. Last night live bullets penetrated my kitchen, and thank God none of us were there at the time.

    More violence may lay ahead. The M23 rebel group, backed by neighbouring Rwanda, is marching south towards Bukavu, another major city, the provincial capital of South Kivu.

    Though unlikely, it has vowed to topple the government of President Felix Tshisekedi in the capital, Kinshasa, some 2,600 kilometres away.

    Tshisekedi has ruled out entering into dialogue with the rebel group, saying his government would not be “humiliated or crushed”.

    What is M23?

    Founded in 2012, M23 claims to protect the Tutsi ethnic minority group in Congo from discrimination, but it has recently begun pursuing broader political and economic ambitions. It is believed to have about 6,500 fighters, supported by another 4,000 troops from Rwanda.

    Last year, the group was restructured to include other Rwanda-backed militias and politicians in the region. Together, they formed the River Congo Alliance, led by Corneille Nangaa, the former head of Congo’s electoral body. It now appears the group has “longer-term objectives in holding and potentially expanding their territorial control”, one analyst says.

    A military court has issued an arrest warrant for Nangaa this week, alleging he is behind massacres in eastern Congo.

    Congo has one of the richest reserves of critical minerals in the world, including cobalt, copper, coltan, uranium and gold. M23’s advances have given it control over many lucrative mines and supply lines to Rwanda.

    In May 2024, M23 seized the mine in Rubaya, one of the world’s largest coltan reserves, which generates more than US$800,000 (A$1.2 million) in revenue a month.

    As of this week, M23 has also gained control over mining sites in North and South Kivu regions, where children and young people are forced to work in life-threatening conditions. Others have been recruited as child soldiers.

    Potential for a regional conflict

    The current situation echoes the tumult caused in 2012 when M23 briefly seized Goma. Back then, the international community reacted more diligently, suspending around US$200 million (A$318 million) in aid to Rwanda. US President Barack Obama personally called Rwandan President Paul Kagame, urging him to stop supporting the rebel group.

    In contrast, the current offensive has been met with a less coordinated international response.

    The resurgence of M23 has been largely attributed to the failure of regional peace talks, notably the Luanda and Nairobi peace processes.

    Rwanda has leveraged the legacy of the 1994 genocide to secure a continuous flow of Western aid, enabling its involvement in proxy wars in the Congo with little to no repercussions.

    Its involvement in supporting M23 is well documented, with evidence from reports by UN expert groups showing the group is receiving weapons, troops and logistical aid from the country.

    Uganda is also believed to be supporting the rebels, while Burundi is backing the Congolese government.

    This has many worried the current fighting could spiral into a regional conflict.

    What the world can do

    The ongoing crisis in Congo has been catastrophic for the local population, with more than 6.9 million people internally displaced and 1.1 million people fleeing to neighbouring countries.

    The crisis has disproportionately affected women and children. It has caused shortages of water, electricity and food supplies and the collapse of medical care, particularly for newborns and critically ill patients. There are also concerns about a new Ebola outbreak in the region.

    Rebel bombings, some launched from Rwanda, have targeted refugee camps, schools and hospitals. According to the UN and human rights groups, M23 is responsible for a massacre in the village of Kishishe, resulting in scores of killings and mass rapes.

    The international community has long ignored this region, providing only a bare minimum of aid to help the millions in need.

    An immediate ceasefire and massive influx of humanitarian aid are urgently needed. But a lasting peace will remain elusive if the main actors don’t address the root causes of the conflict and work towards sustainable, structural solutions that go beyond military interventions.

    In the past, Amani Kasherwa received funding from the Open Society Foundation for his academic research on the role of youth organisations in the peacebuilding process in the African Great Lakes Region (including DR Congo and Burundi).

    – ref. Rebels are continuing their march in eastern Congo – what is their long-term goal? – https://theconversation.com/rebels-are-continuing-their-march-in-eastern-congo-what-is-their-long-term-goal-248672

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Murphy, Blumenthal Call For Investigation Into RealPage Algorithm Potentially Hiking Rents For Military Families, Siphoning Money From U.S. Military

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    HARTFORD—U.S. Senators Chris Murphy (D-Conn.) and Richard Blumenthal (D-Conn.), on Thursday joined their colleagues in sending a letter to U.S. Secretary of Defense Pete Hegseth calling for an investigation into whether landlords may be using property management software company RealPage’s services to price gouge military families.

    The U.S. Department of Defense (DoD) provides servicemembers with a Basic Allowance for Housing (BAH) to cover the costs of owning or renting privately managed housing, an allowance that is adjusted periodically by region to keep up with housing costs. In 2023, DoD spent $24 billion on housing allowances for servicemembers. 

    There are long-held concerns that landlords are raising rents to pocket these BAH increases, rather than raising rents because of market conditions. One recent study even found that it was “common for landlords to base their rent on the BAH for a particular rank,” so servicemembers see no difference in their yearly income. 

    Services provided by RealPage may enable landlords to raise rents even more aggressively, to the detriment of military families, by allowing landlords to exchange proprietary information about lease terms and rents and to set prices using non-public information.

    DOJ and state attorneys generals have already alleged that RealPage contributed to excessive rental costs in several places where DoD raised housing allowances, including Houston, San Diego, Spokane, and Wilmington. Florida has also opened an investigation into whether RealPage is violating antitrust laws; notably, military housing rents increased across Florida during 2022 and 2023 including in Miami, West Palm Beach, Volusia County, and Fort Myers Beach. 

    In addition to hurting military families, unsustainable housing prices have negative implications for recruitment and retention for our military. Increasing housing costs are forcing families to delay moves and choose housing in unsafe neighborhoods or with low-quality conditions. Unlike civilian families, military families “do not have the opportunity to stabilize their housing costs due to frequent relocation.” 

    A recent Government Accountability Office report on military housing confirmed the negative impacts of high housing prices, including servicemembers taking on debt or commuting long distances for quality housing. 

    “The Department of Defense has a responsibility to protect military families from predatory private housing companies and ensure that taxpayer dollars meant for military families are not being pocketed by unscrupulous landlords,” the senators wrote. 

    The senators requested that DoD provide information on whether algorithms like RealPage’s are artificially driving up housing prices for military families by February 13, 2025. 

    U.S. Senators Elizabeth Warren (D-Mass.), Ruben Gallego (D-Ariz.), Catherine Cortez Masto (D-Nev.), Tammy Duckworth (D-Ill.), Andy Kim (D-N.J.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Bernie Sanders (I-Vt.), Tina Smith (D-Minn.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Peter Welch (D-Vt.), and Ron Wyden (D-Ore.) also signed the letter.

    Full text of the letter is available HERE and below.

    Dear Secretary Hegseth:

    In the wake of the Department of Justice’s (DOJ) recent antitrust lawsuit against RealPage, joined by ten states across the country,1 we write with significant concern about whether companies and landlords using RealPage may be price gouging military families.

    The Department of Defense (DoD) provides service members a Basic Allowance for Housing (BAH) to cover the costs of owning or renting privately managed housing.2 But families continue to report that BAH rates are not keeping up with rising housing costs.3

    In fiscal year 2023, DoD spent $24 billion on BAH.4 There are long-held concerns, however, that landlords are raising rents to pocket these BAH increases, rather than raising rents because of market conditions.5 One recent study found that it was “common for landlords to base their rent on the BAH for a particular rank.”6 These findings raise significant concerns that landlords are profiteering by taking taxpayer money that is intended to support military families.

    Services provided by RealPage may enable landlords to raise rents even more aggressively to the detriment of military families. RealPage’s services YieldStar and AIRM help landlords exchange proprietary information about lease terms and rents in order to maximize revenue.7

    In August 2024, the Justice Department and attorneys general in eight states filed an antitrust lawsuit alleging that RealPage engaged in an “unlawful scheme to decrease competition among landlords in apartment pricing and to monopolize the market for commercial revenue management software that landlords use to price apartments.”8 Last month, two more state attorneys general joined the suit, and the Justice Department expanded the lawsuit to six of the nation’s largest landlords.9 RealPage’s tactics allegedly included exerting significant pressure on landlords to accept their recommendations to increase prices, including an “auto accept” feature which automatically adjusted rents for property managers.10 If a landlord or property manager rejected a recommendation, a “pricing advisor” from RealPage allegedly reached out and pushed them to take the recommendation.11 In 2022, a vice president of RealPage credited their software for increasing apartment rents by over 14.5%.12

    In 2022, DoD increased the BAH for 28 military housing areas where rental housing costs increased by an average of more than 20 percent.13 The lawsuit of DOJ and state attorneys general alleges that RealPage contributed to excessive rental costs in several of these places, including San Diego,14 Wilmington,15 and Houston.16 Similarly, in 2021, DoD selected Spokane, Washington as one of the five military housing areas to receive a temporary 20 percent BAH hike;17 the antitrust suit alleges that RealPage contributed to drastic increases in rent prices in this area, where Fairchild Air Force Base and Joint Base Lewis McChord are located.18 Florida has also opened an investigation into whether RealPage is violating antitrust laws; notably, military housing rents increased across Florida during 2022 and 2023 including in Miami, West Palm Beach, Volusia County, and Fort Myers Beach.19

    In addition to harming military families, unsustainable housing prices have negative implications for recruitment and retention for the U.S. Armed Forces. Increasing housing costs have forced some families to delay permanent change of station moves and choose housing in unsafe neighborhoods or in unsatisfactory conditions. A recent military family lifestyle survey found that “housing costs remain the top contributing factor to financial stress for active-duty famil[ies]” and that “higher out-of-pocket housing costs may influence military families’ likelihood to recommend military service.”20 A majority of those who live in civilian housing “continue to pay well over

    $200 per month in housing costs out of pocket”21 on top of their BAH. These predatory housing practices are especially detrimental to military families because “unlike civilian peers, military families do not have the opportunity to stabilize their housing costs due to frequent relocation.”22

    A recent Government Accountability Office (GAO) report on military housing confirmed the negative impacts of high housing prices on military families, finding that “some service members reported having to take on debt or commute long distances to afford quality housing.”23 GAO determined that existing DoD guidance is “insufficient to address military population effects on local housing market.”24 “GAO’s statistical analyses found that counties with higher military populations were associated with having higher median rents and rent-to-income ratios.”25 Local government officials also acknowledged the largely insufficient housing supply and issues with affordability.26 In its report, GAO recommended that DoD develop a comprehensive list of critical housing areas, regularly update said list, obtain and use feedback on the financial and quality-of- life effects of limited supply or unaffordable housing on service members, develop a plan for DoD to respond to and address those effects, and clearly define the roles and responsibilities of installation commanders and military housing offices in addressing housing needs.27

    The Department of Defense has a responsibility to protect military families from predatory private housing companies and ensure that taxpayer dollars meant for military families are not being pocketed by unscrupulous landlords. We seek information that DoD may have on whether algorithms such as those used by RealPage are artificially driving up housing prices for military families, as well as members of the community who do not receive BAH.28 We are also interested in DoD’s broader strategy to ensure landlords are not using RealPage’s services to price gouge military families. Therefore, we ask that you provide answers to the following questions by February 17, 2025.

    1. How effective have DoD’s targeted BAH temporary hikes been at ensuring that military families have access to safe, clean, and affordable housing?
    2. How many reports has DoD received, if any, involving landlords increasing rents in response to BAH increases?
    3. Has DoD conducted any assessments or made any determinations regarding whether landlords in military communities are using RealPage’s YieldStar or AIRM products to price gouge military families?
      1. If so, what have these assessments found?
        1. How many military families rent from landlords who use YieldStar or AIRM products?
        2. Have these products contributed to rent increases for these families?
        3. What information or data has DoD collected to determine the impact of rent-setting algorithms on BAH rates?
        4. What information or notifications has DoD provided to service members or military families in these communities to help prevent them from being gouged by landlords using these algorithms?
      1. If not, why not?
    1. What language, if any, does DoD include in its housing agreements with private companies to ensure programs like RealPage’s YieldStar or AIRM products are not used to influence their rent prices?
    2. Does DoD policy allow private military housing companies to collect data on renters and share it with other landlords, whether through RealPage or through other means?
    3. How does DoD protect military families’ personal information from being disclosed by private housing companies who provide military housing?

    Thank you for your attention to this important matter.

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Blumenthal, Colleagues Reintroduce Legislation to Eliminate Trump’s Outsourcing Tax Breaks

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    February 06, 2025

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), a member of the U.S. Senate Health, Education, Labor, and Pensions Committee, and Richard Blumenthal (D-Conn.) on Thursday joined U.S. Senator Sheldon Whitehouse (D-R.I.) and 15 of their Senate colleagues in reintroducing the No Tax Breaks for Outsourcing Act, legislation that would reverse the Trump tax law’s breaks for offshoring jobs and profits. The announcement comes as President Trump’s 25 percent tariffs on Canada and Mexico remain under negotiation, while Republicans push to expand those offshoring incentives in their reconciliation bill.

    The No Tax Breaks for Outsourcing Act would level the playing field for American companies by requiring multinational corporations to pay the same tax rate on profits earned abroad as they do in the United States. The Trump tax law created a special tax rate for offshore profits that is half the domestic rate. Since the law’s passage, studies have found that multinationals have increased foreign, rather than domestic investment. Extending the Trump tax law would mean maintaining this half-off rate, which is otherwise scheduled to slightly increase.

    If passed, the senators’ legislation would boost U.S. economic competitiveness by encouraging domestic investment, leveling the playing field for domestic companies, and bringing the U.S. into compliance with the global minimum tax agreement. The Joint Committee on Taxation found that large U.S. multinationals paid an average tax rate of just 7.8 percent the year after the Trump law passed, lower than their foreign competitors. They would still pay less than their competitors with a higher rate on foreign profits. Moreover, with over 140 countries moving to implement the global tax agreement, U.S. and foreign multinationals alike will be subject to the new minimum tax whether the U.S. complies or not. Failure to join, however, will mean the revenue fills foreign coffers instead of the U.S. Treasury.  

    U.S. Senators Richard Durbin (D-Ill.), Jack Reed (D-R.I.), Tammy Baldwin (D-Wis.), Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.), Ed Markey (D-Mass.), Brian Schatz (D-Hawaii), John Fetterman (D-Pa.), Chris Van Hollen (D-Md.), Ruben Gallego (D-Ariz.), Mazie Hirono (D-Hawaii), Martin Heinrich (D-N.M.), Cory Booker (D-N.J.), Tina Smith (D-Minn.), and Tammy Duckworth (D-Ill.) also cosponsored the legislation.

    The No Tax Breaks for Outsourcing Act would repeal offshoring incentives by:

    • Equalizing the tax rate on profits earned abroad to the tax rate on profits earned here at home.  The bill would end the preferential tax rate for offshore profits by eliminating the deductions for “global intangible low-tax income (GILTI)” and “foreign-derived intangible income” and applying GILTI on a per-country basis.  
    • Repealing the 10 percent tax exemption on profits earned from certain investments made overseas.  In addition to the half-off tax rate on profits earned abroad, the Trump tax law exempts from tax a 10 percent return on tangible investments made overseas, like plants and equipment.  The legislation would eliminate the zero-tax rate on certain investments made overseas. 
    • Treating “foreign” corporations that are managed and controlled in the U.S. as domestic corporations.  Ugland House in the Cayman Islands is the five-story legal home of over 18,000 companies – many of them actually American companies in disguise.  The bill would treat corporations worth $50 million or more and managed and controlled within the U.S. as the American entities they in fact are, and subject them to the same tax as other U.S. taxpayers.
    • Cracking down on inversions by tightening the definition of expatriated entity.  This provision would discourage corporations from renouncing their U.S. citizenship.  It would deem certain mergers between a U.S. company and a smaller foreign firm to be a U.S. taxpayer, no matter where in the world the new company claims to be headquartered. Specifically, the combined company would continue to be treated as a domestic corporation if the historic shareholders of the U.S. company own more than 50 percent of the new entity. 
    • Combating earnings stripping by restricting the deduction for interest expense for multinational enterprises with excess domestic indebtedness.  Some multinational groups reduce or eliminate their U.S. tax bills by concentrating their worldwide debt, and the resulting interest deductions, in U.S. subsidiaries.  The bill would disallow interest deduction for U.S. subsidiaries of a multinational corporation where a disproportionate share of the worldwide group’s debt is located in the U.S. entity, a tactic commonly known as “earnings stripping.”  
    • Eliminating tax break for foreign oil and gas extraction income.  Oil and gas extraction income earned abroad gets an even further break on the already half-off rate other industries pay on offshore profits.  

    Full text of the bill is available HERE.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Blumenthal, 37 Colleagues Reintroduce Right To Contraception Act

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    February 06, 2025

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), a member of the U.S. Senate Health, Education, Labor and Pensions (HELP) Committee, and Richard Blumenthal (D-Conn.), joined 37 of their Senate colleagues in reintroducing the Right to Contraception Act, legislation that would create a statutory right to obtain and use contraceptives. The bill would also help ensure health care providers have a right to provide contraceptives and share information about this essential care. Companion legislation was introduced in the U.S. House of Representatives by U.S. Representative Lizzie Fletcher (D-Texas).

    In July 2022, the Right to Contraception Act passed the House with a vote of 220-195. That same month, Republicans blocked an attempt in the U.S. Senate to pass the bill by unanimous consent. They did the same in June 2023. In June 2024, Republicans blocked Senate Democrats’ attempt to pass the bill on the floor.

    U.S. Senators Mazie K. Hirono (D-Hawaii), Ed Markey (D-Mass.), Tammy Duckworth (D-Ill.), Tammy Baldwin (D-Wis.), Michael Bennet (D-Colo.), Cory Booker (D-N.J.), Lisa Blunt Rochester (D-Del.), Maria Cantwell (D-Wash.), Chris Coons (D-Del.), Catherine Cortez Masto (D-Nev.), Dick Durbin (D-Ill.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Martin Heinrich (D-N.M.), John Hickenlooper (D-Colo.), Tim Kaine (D-Va.), Andy Kim (D-N.J.), Amy Klobuchar (D-Minn.), Jeff Merkley (D-Ore.), Patty Murray (D-Wash.), Jon Ossoff (D-Ga.), Alex Padilla (D-Calif.), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Jeanne Shaheen (D-N.H.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.) also cosponsored the legislation.

    The Right to Contraception Act is endorsed by Power to Decide, National Family Planning & Reproductive Health Association, National Women’s Law Center, Guttmacher Institute, Reproductive Freedom for All (formerly NARAL Pro-Choice America), Population Connection Action Fund, Americans for Contraception, Advocates for Youth, National Partnership for Women & Families, American Public Health Association, American Humanist Association, National Association of Nurse Practitioners in Women’s Health , Center for Biological Diversity, Ibis Reproductive Health, Physicians for Reproductive Health, Upstream USA, Planned Parenthood Federation of America, National Health Law Program, SIECUS: Sex Ed for Social Change, National Latina Institute for Reproductive Justice, Reproductive Health Access Project, American College of Obstetricians and Gynecologists, Upstream USA, In Our Own Voice: National Black Women’s Reproductive Justice Agenda, Center for American Progress, National Asian Pacific American Women’s Forum, All* Above All, and Center for Reproductive Rights.

    Full text of the legislation is available HERE.

    Last year, Murphy released statements after Senate Republicans blocked the Reproductive Freedom for Women Act, the Right to Contraception Act and the Right to IVF Act.

    In March, Murphy co-sponsored legislation to protect IVF access and other assisted reproductive technology, but passage was blocked by Senate Republicans. That month, Murphy also submitted an amicus brief calling on the Supreme Court to affirm the Emergency Medical Treatment and Active Labor Act (EMTALA) requires hospitals to provide emergency stabilizing care, including abortion care.

    MIL OSI USA News –

  • MIL-OSI USA: McConnell Proud to Confirm Vought as OMB Director

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell

    Washington, D.C. – U.S. Senator Mitch McConnell (R-KY) issued the following statement today regarding the confirmation of Russell Vought as Director of the Office of Management and Budget (OMB):

    “America faces growing budgetary challenges as well as growing foreign threats that undermine our economic prosperity and national security. In its work to preserve America’s economic and geopolitical primacy, the Administration must simultaneously put its fiscal house in order and make the serious investments required to restore peace through strength. Mr. Vought is experienced and demonstrably qualified to lead the Office of Management and Budget, and I look forward to working with him and President Trump to address these looming challenges. Congress has inherent Constitutional authority to appropriate funds and an obligation to provide for the common defense. I hope and expect Mr. Vought will coordinate closely with Congress in this vital work.”

    MIL OSI USA News –

  • MIL-OSI USA: WATCH: Senator Reverend Warnock Highlights Trump Administration Nominee’s Threat to Georgian’s Pocketbooks in Hour-Long Floor Speech

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    WATCH: Senator Reverend Warnock Highlights Trump Administration Nominee’s Threat to Georgian’s Pocketbooks in Hour-Long Floor Speech

    Senator Reverend Warnock delivered a nearly hour-long Senate floor speech opposing Russell Vought’s nomination to lead the Office of Management and Budget (OMB)

    The speech follows the recent federal funding freeze, orchestrated by Vought and the OMB, which has impacted federal funding and programs for everything from seniors to law enforcement to child care to veterans

    Senator Reverend Warnock also used the speech to highlight personal stories from Georgians who have been impacted by the Trump Administration’s continued efforts to gut the federal government

    Senator Reverend Warnock: “My state has been plagued by chaos, by confusion that has harmed Georgia families and Georgia workers and organizations serving their communities. We are witnessing, right now, a careless and heartless assault on federal investments and a freeze of government funding that has already been appropriated by Congress”

    Watch Senator Reverend Warnock’s speech HERE

    Washington, D.C. – Yesterday, U.S. Senator Reverend Raphael Warnock (D-GA) delivered a nearly hour-long speech on the floor of the U.S. Senate highlighting his opposition to Russell Vought’s nomination to be head of the Office of Management and Budget (OMB).

    “I rise today in strong opposition to the nomination of Russell Vought to be the head of the Office of Management and Budget. His leadership will only continue the disruption that is hurting Georgians in every corner of my state, even as I speak,” said Senator Reverend Warnock.

    During his floor speech, which was the longest of his tenure in the Senate, Senator Warnock addressed the continued efforts by the Trump Administration to gut the federal government from within. He also addressed the impacts of the Trump Administration’s federal funding freeze which has affected federal programs across Georgia and threatened services that support our veterans, law enforcement, seniors, schools, and our health system. The careless freeze is the brainchild of Russell Vought, the nominee to be the Director of the Office of Management and Budget.

    “If you want to get a sense of who President Trump is looking out for, look at who he’s surrounding himself with. On that stage when he was inaugurated, you saw them, some of the richest people in the world. They were the ones who had proximity. Well, proximity matters. You can tell a whole lot about the character of a person’s public service based on the people who can get close to them. The folks who get to speak into their ear. If you want to know who Donald Trump is working for, look at who he’s surrounding himself with. The likes of Elon Musk, the billionaire, the richest man in the world who is now telling the rest of us that we need to tighten our belts. How quaint,” said Senator Reverend Warnock.

    “Look, I will work with anyone who is able to have a serious bipartisan conversation about how to best utilize government resources and taxpayer dollars. Working across the aisle to get good things done for Georgia has been a cornerstone of my service in the Senate over the past four years. I’m listed as one of the most bipartisan senators in the Senate. I have worked with Republicans many, many times. But right now, the playbook is obvious. Cut programs that you rely on and give the richest of the rich the money. Robin Hood in reverse. Steal from the poor, give to the rich,” Senator Reverend Warnock added.

    Watch Senator Warnock’s full speech HERE.

    Below are key excerpts from Senator Warnock’s speech:

    “Mr. President,

    “I rise today in strong opposition to the nomination of Russell Vought to be the head of the Office of Management and Budget. His leadership will only continue the disruption that is hurting Georgians in every corner of my state, even as I speak.

    “Over the past two and a half weeks, my state has been plagued by chaos, by confusion that has harmed Georgia families and Georgia workers and organizations serving their communities. We are witnessing right now a careless and heartless assault on federal investments and a freeze of government funding that has already been appropriated by Congress. To help Georgia seniors, veterans, students, and so many more.”

    “I dare say that the people of Georgia who elected me, and the people of Georgia who elected Donald Trump, did not vote for this. But just as we warned, his dangerous plans are playing out in real-time. This is exactly what they said they were going to do. Some didn’t believe them. Even after they attempted to gaslight the American people into thinking otherwise, here we are in no time flat.”

    […]

    “This stunt that was pulled a few days ago is a disaster for communities who want well-funded law enforcement, thriving businesses, safe roads and bridges, and as they attack federal workers, attack the government, they’re trying to convince you that the government is some third entity outside of us — some third entity outside of us? No, this is by the people, for the people, of the people.

    “This is the highest of our aspirations, what we’re trying to achieve together. As we witness this assault, it is hitting Democrats and Republicans. Blue states and red states. As the people’s voices are being squeezed out of their democracy.

    “Just last week, without even being confirmed, Vought orchestrated the effort to freeze federal spending, as if this money is his money rather than our money, the people’s money, throwing programs from infrastructure upgrades, to Medicaid, to free school lunches, to support for homeless veterans into chaos. How dare you take funds that are needed by the veterans of Georgia and all across this state? Those who fight for us should not have to fight with us to get what they deserve.”

    […]

    “My constituents were deeply shaken by last week’s federal funding freeze. I received thousands of calls and e-mails from folks afraid of the freeze’s unknown harm to their community. So, let’s peel back the curtain even more on what happened over the last few days. The Trump Administration froze trillions of dollars of government spending to enact massive and disruptive funding cuts. These cuts are being orchestrated in part by Russell Vought and in partnership with the world’s richest man, Elon Musk — Elon Musk, the co-president.

    “This unelected, unvetted bureaucrat who by my best guess appears to think that the livelihood of Georgians and Americans is some kind of start-up he can tear apart. So, if you want to get a sense of who President Trump is looking out for, look at who he’s surrounding himself with. On that stage when he was inaugurated, you saw them, some of the richest people in the world. They were the ones who had proximity. Well, proximity matters. You can tell a whole lot about the character of a person’s public service based on the people who can get close to them. The folks who get to speak into their ear.

    “If you want to know who Donald Trump is working for, look at who he’s surrounding himself with. The likes of Elon Musk, the billionaire, the richest man in the world who is now telling the rest of us that we need to tighten our belts. How quaint.

    “President Trump isn’t serving you, he’s serving them. He’s serving those in our country who are well off and who don’t play by the rules and putting at risk basic programs that help folks send their kids to school, keep food affordable, and lower their energy bills.”

    […]

    “So when Elon Musk and his billionaire buddies go looking for spending cuts and they’re focused on cutting government waste, they start by targeting the working class. He said he couldn’t cut taxes for billionaires because they are the job creators. What about the folks who work on the job day to day? What about the folks who clean hospitals? Who mop floors? Who pick up our garbage? Why is it that those at the top deserve so much more than those working at the bottom? Those in the middle? Hardworking Americans who play by the rules?”

    […]

    “Look, I will work with anyone who is able to have a serious bipartisan conversation about how to best utilize government resources and taxpayer dollars. Working across the aisle to get good things done for Georgia has been a cornerstone of my service in the Senate over the past four years. I’m listed as one of the most bipartisan senators in the Senate. I have worked with Republicans many, many times. But right now, the playbook is obvious. Cut programs that you rely on and give the richest of the rich the money. Robin Hood in reverse. Steal from the poor, give to the rich.”

    […]

    “This is not how the most powerful government in the world ought to serve its people. The reality is, this new level of Washington’s dysfunction has real-world consequences that extend beyond Washington politicians. Georgia’s economy does not stop just because Washington is exercising a kind of chaos.”

    “While we’re trying to get our act together up here, guess what? Farmers still need crop insurance, childcare workers in community health centers still need to make payroll, our roads and our bridges, and pipes still need repairs. When federal investments are put in limbo, the stability of our states and local communities are also put in jeopardy. And let me be clear, the trump administration has demonstrated that it will try this again and again and again, and when they do, the business community will suffer and Georgians will be out of their jobs, unless we stand up and say no.

    “If this federal funding freeze continues, as Russell Vought hopes, the impact will be felt hardest by those who can least afford it. It’s easy in all the blusters of the beltway who is actually bearing the brunt of Donald Trump’s actions. Delays and freezing are not just inconvenient, they create instability, and they cost the jobs of our friends, our families, and our neighbors.

    “So, it’s up to us in this moment to stand up. I am listening to the people who sent me to represent them. I’m thinking about those who do the work every single day. It is our job to respond to the call and the urgency of this moment. History will not treat us kindly if we are silent at a time like this.”

    MIL OSI USA News –

  • MIL-OSI New Zealand: Firearms and ammunition seized following a Porirua traffic stop

    Source: New Zealand Police (National News)

    Attributable to Detective Sergeant Vincent Smylie:

    A man is before the courts following a vehicle stop which led to the discovery of two firearms and shotgun ammunition.

    Around 4pm on Tuesday 4 February, Police conducted a vehicle stop in Cannons Creek, after seeing a person of interest in the passenger seat of a vehicle.

    The 34-year-old man was arrested in relation to a warrant to arrest.

    The day after, Wednesday 5 February, Police conducted a search warrant at his house nearby, leading to the discovery of two firearms, shotgun ammunition, and gang insignia that had allegedly been displayed in an earlier incident in January.

    He is due to reappear in Porirua District Court on Friday 21 February, facing charges of prohibited display of gang insignia in a public place, burglary, male assaults female, intentional damage, speaks threateningly, and unlawful possession of ammunition. Further charges relating to the two firearms are being considered.

    Police are glad to have been able to pull two more unlawfully possessed firearms off the street, as they have the ability to cause serious harm in our community.

    “We will continue to target offenders who show little regard for the community, including violent offenders, and those who unlawfully possess firearms,” Detective Sergeant Smylie said.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Economics: Panasonic in Numbers: 100% Marine Biodegradable Molding Material

    Source: Panasonic

    Headline: Panasonic in Numbers: 100% Marine Biodegradable Molding Material

    Growing concern over environmental impact, including marine plastic pollution, depletion of petroleum resources, and global warming, has led to a global effort to reduce the use of traditional plastic resins.Today, 80% of all plastic waste is discarded and expectations are that by 2050, the amount of plastic in our oceans will outweigh the fish*.Following years of R&D, Panasonic HD has developed a 100% marine biodegradable molding material based on plant-derived resins that is comparable in strength to polypropylene.Certified as a “Marine Biodegradable & Biobased Plastics” by the Japan Bioplastics Association, Panasonic HD plans to commercialize this material by 2027, leveraging its unique properties for household appliance casings, automotive parts, consumer goods, and beverage and food containers, among other applications.
    * http://www.jbpaweb.net/gp/index.html

    MIL OSI Economics –

  • MIL-OSI USA: Chairman Graham Statement on Vought Confirmation

    US Senate News:

    Source: United States Senator for South Carolina Lindsey Graham

    WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina), Chairman of the Senate Budget Committee, today made this statement after voting to confirm Russ Vought as the next Director of the Office of Management and Budget (OMB). Vought was confirmed by a vote of 53-47.

    “I look forward to working with OMB Director Russ Vought and congratulate him on being confirmed by the Senate. 

    “Russ is highly qualified, and served in the same capacity in the first Trump Administration. I believe he is the right man at the right time to get our fiscal house in order.”

    MIL OSI USA News –

  • MIL-OSI China: Housing sector likely to see better days ahead

    Source: China State Council Information Office

    The positive buying sentiment in the new-home market across major Chinese cities has greatly boosted confidence and expectations for a strong sales season in March and April, said industry experts on Thursday after digesting the home transaction data of the Spring Festival holiday.

    The Chinese New Year holiday started on Jan 28 and wrapped up on Tuesday. According to official data, the 28 major Chinese cities monitored by the China Index Academy reported an 8 percent growth in daily new-home transaction space year-on-year.

    More specifically, Guangzhou, Guangdong province witnessed a 47 percent year-on-year surge in new home trades during the Spring Festival holiday, with Beijing recording a moderate growth of 5 percent. Strong growth was also seen in second-tier cities including Nanjing, Jiangsu province; Nanchang, Jiangxi province; and Wuhan, Hubei province.

    “It is expected that transaction volume of both new and pre-owned homes in these cities would welcome an evident rebound after the holiday,” said Li Yifeng, deputy director of research at the China Index Academy.

    “The overall housing market saw stable performance during this year’s Chinese New Year, despite the fact that the holiday is a conventional low season for home transactions. As a result, a significant rebound is highly expected after the holiday,” Li said.

    The positive feedback in the market — coupled with factors like warm weather, year-end bonuses, stable work and life, and promotions launched by developers — is likely to persuade more potential homebuyers to make purchases, Beijing Business Today reported.

    “The increase in the number of visits is encouraging, which indicates the previous policies are taking effect and homebuying demand is still strong,” said Cao Xiaoning, a real estate agent for a residential project in Beijing’s Shijingshan district developed by China Overseas Land and Investment Ltd, a unit of Beijing-based China State Construction Engineering Corp.

    Yan Yuejin, deputy head of the Shanghai-based E-House China R&D Institute, said the improved performance over the holiday shows the real estate market adjustment has bottomed out and is headed for a course of stabilization.

    “Currently, the property market is fully adjusting itself, and we expect homebuyers to become more optimistic regarding the sector’s outlook, and an early spring warming may be around the corner,” Yan said.

    Both new and pre-owned homes reported positive growth before the Chinese New Year holiday in January. In the 30 cities China Index Academy surveyed, new home traded space grew 4 percent year-on-year between Jan 1 and Jan 27, and the 20 key cities’ existing home trade volume surged 19 percent from a year ago during the same period.

    “With people returning to work after the holiday, their homebuying plans are also getting back on the right track. Therefore, a home transaction rebound is due in the near term,” Li said.

    Li added that considering the low base of the first quarter in 2024, new home traded volume is likely to be stable in the first quarter, and home prices in the secondary market will hopefully become stabilized.

    “But the market is still in need of policy support for its sustained stabilization,” said Li.

    MIL OSI China News –

  • MIL-OSI USA: Wyden, Colleagues Introduce Antitrust Legislation to Take on Algorithmic Price Fixing, Bring Down Costs

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    February 06, 2025

    Senator says Preventing Algorithmic Collusion Act “will send a strong message to corporations that they won’t get away with coordinating to ratchet up prices on consumers.”

    Washington D.C.—U.S. Senator Ron Wyden today joined Senate colleagues to introduce legislation that would prevent companies from using algorithms to collude to set higher prices. This legislation builds off legislation Wyden introduced last year to crack down on companies that help landlords increase rents in already high-priced markets.

    “Collusion is collusion, whether you do it over the phone or using an algorithm. This legislation, along with my End Rent Fixing Act, will send a strong message to corporations that they won’t get away with coordinating to ratchet up prices on consumers,” said Wyden.

    As recent reporting, a Justice Department lawsuit, and multiple private lawsuits have shown, big corporations are using algorithms to raise prices and limit competition. This includes companies like RealPage that have facilitated collusion to increase rents by more than $3 billion in 2023 alone. This legislation would make such collusion illegal to lower costs for families and support small businesses.

    Price fixing and other forms of collusion are illegal under current antitrust laws. However, current antitrust laws may be insufficient when competing companies delegate their pricing decisions to an algorithm without agreeing to fix prices. Current law requires proof of an agreement to fix prices before condemning the conduct. When pricing decisions of multiple competitors are delegated to a single algorithm, that agreement may not exist even though the use of the algorithm may have the same effect as a traditional agreement to fix prices. This type of conduct has already occurred in rental housing.

    To strengthen current price fixing law, this Preventing Algorithmic Collusion Act would do the following:

    • Close a loophole in current law by presuming a price-fixing “agreement,” when direct competitors share non-public information through a pricing algorithm to raise prices;
    • Increase transparency by requiring companies that use algorithms to set prices to disclose that fact and give antitrust enforcers the ability to audit the pricing algorithm when there are concerns it may be harming consumers;
    • Ban companies from using non-public, competitively sensitive information from their direct competitors to inform or train a pricing algorithm;
    • Direct the Federal Trade Commission to study pricing algorithms’ impact on competition. 

    The legislation was led by U.S. Senator Amy Klobuchar, D-Minn. Along with Wyden, the bill was co-sponsored by Senators Dick Durbin, D-Ill., Richard Blumenthal, D-Conn., Mazie Hirono, D-Hawaii, Ben Ray Luján, D-N.M., Chris Murphy, D-Conn., Jeanne Shaheen, D-N.H., and Peter Welch, D-Vt. The Preventing Algorithmic Collusion Act is endorsed by Consumer Reports, the Open Markets Institute, and Accountable.US. 

    MIL OSI USA News –

  • MIL-Evening Report: Taking the ‘forever’ out of ‘forever chemicals’: we worked out how to destroy the PFAS in batteries

    Source: The Conversation (Au and NZ) – By Jens Blotevogel, Principal Research Scientist and Team Leader for Remediation Technologies, CSIRO

    Mino Surkala, Shutterstock

    Lithium-ion batteries are part of everyday life. They power small rechargeable devices such as mobile phones and laptops. They enable electric vehicles. And larger versions store excess renewable energy for later use, supporting the clean energy transition.

    Australia produces more than 3,000 tonnes of lithium-ion battery waste a year. Managing this waste is a technical, economic and social challenge. Opportunities exist for recycling and creating a circular economy for batteries. But they come with risk.

    That’s because lithium-ion batteries contain manufactured chemicals such as PFAS, or per- and polyfluoroalkyl substances. The chemicals carry the lithium – along with electricity – through the battery. If released into the environment, they can linger for decades and likely longer. This is why they’ve been dubbed “forever chemicals”.

    Recently, scientists identified a new type of PFAS known as bis-FASIs (short for bis-perfluoroalkyl sulfonimides) in lithium-ion batteries and in the environment. Bis-FASIs have since been detected in soils and waters worldwide. They are toxic – just one drop in an Olympic-size swimming pool can harm the nervous system of animals. Scientists don’t know much about possible effects on humans yet.

    Bis-FASIs in lithium-ion batteries present a major obstacle to recycling or disposing of batteries safely. Fortunately, we may have come up with a way to fix this.

    There’s value in our battery wastes

    Currently, Australia only recycles about 10% of its battery waste. The rest is sent to landfill.

    But landfill sites could leak eventually. That means disposal of battery waste in landfill may lead to soil and groundwater contamination.

    We can’t throw away lithium-ion batteries in household rubbish because they can catch fire.

    So once batteries reach the end of useful life, we must handle them in a way that protects the environment and human health.

    What’s more, there’s real value in battery waste. Lithium-ion batteries contain lots of valuable metals that are worth recycling. Lithium, cobalt, copper and nickel are critical and finite metal resources that are in high demand. The recoverable metal value from one tonne of lithium-ion battery waste is between A$3,000 and $14,000.

    As more lithium-ion batteries explode in flames, waste chiefs say change is necessary (7.30)

    What does this mean for recycling of batteries?

    Battery recycling in Australia begins with collection, sorting, discharging and dismantling, before the metal is recovered.

    Metal recovery can be done via mechanical, high-temperature, chemical or biological methods. But this may inadvertently release bis-FASI, threatening recycling workers and the environment.

    Pyrometallurgy is the most common technique for recycling lithium-ion batteries. This involves incinerating the batteries to recover the metals. Bis-FASIs are incinerated at the same time.

    Yet PFAS chemicals are stable and can withstand high temperatures. The exact temperature needed to destroy PFAS is the biggest unknown in lithium-ion battery recycling.

    Determining this temperature was the focus of our research.

    The solution is hot – very hot!

    We teamed up with chemistry professor Anthony Rappé at Colorado State University in the United States. We wanted to work out the temperature at which bis-FASIs can be effectively incinerated.

    But figuring this out is tricky, not only because of the danger of working with high temperatures.

    The inside of incinerators is a hot mess. Molecules get torn apart. Some recombine to form larger molecules, and others interact with ashes produced during the burning process. This could produce toxic new substances, which then exit through a smokestack into the air outside.

    We don’t want PFAS going out through the smokestack.
    HJBC, Shutterstock

    To make matters worse, it’s not possible to measure all the substances that bis-FASIs break down into, because many of them are unknown.

    To help, we applied the science of quantum mechanics and solved the problem on a computer without ever going into the lab. The computer can accurately simulate the behaviour of any molecules, including bis-FASIs.

    We found that at 600°C, bis-FASI molecules start to separate into smaller fragments. But these fragments are still PFAS chemicals and could be more harmful than their parent chemicals.

    As a consequence, the absence of bis-FASIs in stack exhaust is not enough to deem the process safe. Much higher temperatures of 1,000°C and above are needed to break down bis-FASIs completely into harmless products. This is likely to be much higher than temperatures currently used, although that varies between facilities.

    Based on these findings, we built an innovative model that guides recyclers on how to destroy bis-FASIs during metal recovery by using sufficiently high temperatures.

    How do we avoid future risks?

    We are now collaborating with operators of high-temperature metal recovery and incineration plants to use our model to destroy PFAS in batteries.

    Recycling plants will have to use much higher temperatures to avoid problematic fumes and this will require more energy and financial investment.

    After our new guidance is implemented, we will test the recovered metals, solid residues, and exhausts to ensure they are free from PFAS.

    While we can tackle the PFAS problem now, it remains an expensive undertaking. Metal recovery processes must be upgraded to safely destroy bis-FASIs. Ultimately, consumers are likely to foot the bill.

    However, sending lithium-ion battery waste to landfill will damage the environment and be more expensive in the long run. Landfilling of bis-FASI-containing waste should therefore be avoided.

    Clearly, the battery recycling rate must improve. This is where everyday people can help. In the future, manufacturers should avoid using forever chemicals in batteries altogether. Development of safer alternatives is a key focus of ongoing research into sustainable battery design.

    Jens Blotevogel receives funding from the United States Department of Defense’s Strategic Environmental Research and Development Program.

    Naomi Boxall receives funding from the Australian Government under the National Environmental Science Program.

    – ref. Taking the ‘forever’ out of ‘forever chemicals’: we worked out how to destroy the PFAS in batteries – https://theconversation.com/taking-the-forever-out-of-forever-chemicals-we-worked-out-how-to-destroy-the-pfas-in-batteries-242769

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: What is botulism? How this ‘nerve-paralysing illness’ can be linked to dodgy botox

    Source: The Conversation (Au and NZ) – By Thomas Jeffries, Senior Lecturer in Microbiology, Western Sydney University

    Tijana Simic/Shutterstock

    The news last week that three people in Sydney were hospitalised with botulism after receiving botox injections has raised questions about the regulation of the cosmetic injectables industry.

    The three women allegedly received injections of unregulated anti-wrinkle products from the same provider at a Western Sydney home in January.

    The provider, who is not a registered health practitioner, is allegedly also linked to a case of botulism that occurred following a botox injection in Victoria in 2024.

    The provider has been banned from performing cosmetic procedures in New South Wales and Victoria while the incidents are investigated. Meanwhile, health authorities in both states have issued warnings about the practitioner.

    So, what exactly is botulism? And how can it be linked to botox?

    Botox and botulism

    Botox, or botulinum toxin, is a drug made from a toxin produced by the bacterium Clostridium botulinum.

    The botox toxin is a neurotoxin, which means it prevents the functioning of cells in the central nervous system. Specifically, it blocks the messages your nerves send to your muscles telling them to contract. In this way it can temporarily reduce wrinkles.

    While botox is best known for its cosmetic applications, it can also be used in the treatment of certain medical conditions, such as chronic migraines and muscle spasms.

    The toxin is used in a highly diluted form in botox injections. Notwithstanding the possibility of side effects (such as temporary pain and swelling at the injection site), botox is generally considered safe when conducted by licensed health practitioners.

    Botulism is likewise caused by a toxin produced by the bacteria C. botulinum.

    Instances of botulism linked to botox injections in the past have been attributed to counterfeit or mishandled product. Mishandling might include contamination from the toxin source in the diluted product, leading to a higher dose of the toxin, or improper refrigeration. Poor injection technique can also be a factor.

    When the botulinum toxin is not handled properly, the toxin can enter the bloodstream. This is how botulism occurs.

    Botulism can also be a food-borne illness

    C. botulinum can form spores and survive in tough conditions, meaning it can withstand many food preparation techniques.

    People who consume homemade preserved foods such as vegetables, particularly those that are not cooked during preparation, can be at a higher risk of food-borne botulism. Lower levels of salt and acid, as is the case with mild fermentation, can also increase the risk of the toxin being present.

    Botulism can be picked up from food.
    Dale Jackson/Pexels

    C. botulinum can also survive in soil and water. In this way, botulism can also be caused by bacteria from the environment. This can present as wound infections, or intestinal infection with C. botulinum in infants specifically.

    Intravenous drug users are at a higher risk of wound-borne botulism, while infants tend to suffer from gastrointestinal botulism because their gut microbiomes are still developing.

    It’s extremely rare

    Botulism is very unusual, with generally only about one case reported annually in Australia.

    However it’s very serious. It’s commonly referred to as a nerve-paralysing illness.

    Symptoms can develop within a few hours to several days after exposure to the toxin, and include drooping eyelids, difficulty breathing, facial weakness, blurred vision, difficulty swallowing and slurred speech. In infants it can cause floppy limbs and a weak cry.

    It’s treated by supporting breathing if necessary, and urgently administering a botox antitoxin, which binds to the toxin, preventing it from attaching to nerve cells in the body.

    Usually patients recover, although in some cases they may need to be in hospital for months, and sometimes symptoms such as fatigue and trouble breathing can last years.

    Botulism is fatal in 5–10% of cases.

    Botulism is a serious illness.
    Jason Grant/Shutterstock

    Is there anything people can do to stay safe?

    The cosmetic injectables industry is estimated to be worth A$4.1 billion in Australia and forecast to grow by almost 20% annually until 2030. These recent incidents in NSW and Victoria highlight the need for stronger regulation in this booming industry.

    If you’re considering a cosmetic botox injection, make sure it’s administered by a trusted professional, ideally someone registered with the Australian Health Practitioner Regulation Agency.

    Asking your practitioner about the injectable they’re using, and ensuring the specific product is registered with the Therapeutic Goods Administration, can further limit any risk associated with botox procedures.

    If you make your own preserved foods, careful food production techniques and hygiene, as well as the addition of fermentation, acid, salt or heat treatment can limit the risk of food-borne botulism.

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

    – ref. What is botulism? How this ‘nerve-paralysing illness’ can be linked to dodgy botox – https://theconversation.com/what-is-botulism-how-this-nerve-paralysing-illness-can-be-linked-to-dodgy-botox-248765

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Two charged after police seize homemade firearms, drugs

    Source: Tasmania Police

    Two charged after police seize homemade firearms, drugs

    Friday, 7 February 2025 – 1:31 pm.

    Two people have been charged after police seized two homemade firearms, drugs, and stolen property during a targeted search at Kings Meadows.
    Members of Northern Drugs and Firearms Unit executed a search warrant at the residential address on Thursday 6 February, following reports of an aggravated assault the night prior.
    A man was reportedly inside a vehicle when a person known to him approached the vehicle while in possession of a firearm.
    Nobody was physically injured and the firearm was not discharged.
    As part of their investigations, police searched the Kings Meadows residence and located and seized a loaded homemade .22 pistol fitted with a silencer, a loaded homemade .22 pen gun, ammunition, quantities of methylamphetamine, MDMA, cocaine and prescription medication as well as a motorcycle and box trailer believed to have been stolen.
    A 39 year old Youngtown man was arrested and charged with multiple firearms offences, aggravated assault, unlawful possession of property, motor vehicle stealing and minor drug offences.
    He was detained to appear in the Launceston Magistrates Court today.
    A 24 year old Ravenswood woman was also arrested and charged with firearms offences, aggravated assault and minor drug offences.
    She will appear in the Launceston Magistrates Court in April.
    Detective Acting Inspector Jason Jones said homemade firearms were not only illegal, but dangerous and Tasmania Police remained committed to removing them from the community.
    “We encourage anyone in possession of illegal or homemade firearms to hand them over to police. Tasmania has a permanent firearms amnesty – this allows people with unregistered, unwanted firearms to hand them in without fear of prosecution. There are no penalties associated with surrendering firearms during an amnesty regardless of how they may have come into people’s possession,” he said.
    Anyone with information about illegal or homemade firearms should  contact police on 131 444 or Crime Stoppers anonymously by calling 1800 333 000 or online via crimestopperstas.com.au.

    MIL OSI News –