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Category: housing

  • MIL-OSI: Final terms for bonds to be listed 7th February 2025

    Source: GlobeNewswire (MIL-OSI)

    To Nasdaq Copenhagen A/S                        4th February 2025
                                            Announcement no. 12/2025

    Final terms for bonds to be listed 7thFebruary 2025

    On 7th February 2025, Jyske Realkredit A/S will be listing new Covered Bonds (SDO). Final terms for the bonds are attached to this announcement.

    The full prospectus for the Bonds consist of the attached final terms and the previously disclosed ”Base Prospectus for the issue of Covered Bonds (SDO), Mortgage bonds (“RO”) and Mortgage Bonds (RO) and bonds issued pursuant to Section 15 of the Danish Mortgage-Credit Loans and Mortgage-Credit Bonds etc. Act (Section 15 Bonds).”, dated June 28th, 2024.

    Jyske Realkredit’s base prospectus is available on Jyske Realkredit’s home page jyskerealkredit.com

    Yours sincerely,
    Jyske Realkredit A/S

    www.jyskerealkredit.com

    Please observe that the Danish version of this announcement prevails.

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Scottish Greens made budget fairer, greener and better for Scotland

    Source: Scottish Greens

    04 Feb 2025 Finance

    This budget makes vital progress on child poverty and climate action.

    More in Finance

    More children will be fed, buses will be cheaper and nature will be protected as a result of changes made to the Government’s budget by the Scottish Greens, says the party’s finance spokesperson Ross Greer ahead of a debate and vote taking place today.

    Through negotiations late last year the Scottish Greens secured record investment in climate action, a funding increase for local services including schools, social care and bin collections, free ferry travel for young islanders and free bus travel for asylum seekers. They also increased the tax paid when buying a second or holiday home, giving a boost to first-time home buyers.

    And last week it was announced that the Greens had also secured free school meals for thousands more S1-S3 pupils, more funding for nature restoration and a year-long trial where bus fares in one region of the country will be capped at no more than £2.

    Mr Greer said:

    “As a direct result of Green negotiations, this budget will lift more children out of poverty, make buses cheaper and help tackle the climate crisis.

    “No child should be hungry at school, and the extra meals secured by Green MSPs will take us one step closer to eradicating that hunger completely. This builds on the extension of universal free school meals to P4 and P5 which the Scottish Greens delivered a few years ago.

    “We are determined to make it cheaper to get the bus. That’s why we will launch a year-long trial in one region where bus fares are capped at £2, something we are confident will be successful enough to then roll out across all of Scotland.”

    Mr Greer added:

    “There is a huge contrast between everything the Scottish Greens have delivered for people and planet, and a Scottish Labour Party who allowed the SNP’s budget to pass without securing a single change of their own. 

    “While others played silly games, Green MSPs worked to support families in poverty and protect our natural environment.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Consultation launches on travel improvements to A61 junctions and B6481 Pontefract Road

    Source: City of Leeds

    The second stage of consultation has launched today to improve two key roads linking Leeds to Wakefield and Pontefract.

    Run in partnership with the West Yorkshire Combined Authority, the consultation aims to make it safer and more accessible to walk, wheel and cycle, as well as improving bus reliability. 

    The consultation follows on from a previous public engagement where residents were asked about initial proposals for the schemes. Results from the first round include:

    • When asked about the zone in which there were proposed improvements to A61 Jumbles Lane and Carlton Lane junctions, 53% of respondents felt positive towards the proposals, while 28% felt negative.
    • When asked about the zones in which there were proposed improvements to B6481 Pontefract Road, 52% of respondents felt positive towards the proposals, while 33% felt negative.

    For the A61 in Lofthouse, the proposals focus on two key junctions which have known safety concerns, lack of safe crossing points for school students and pedestrians, and cars travelling at speed – the A61 Jumbles Lane junction and the A61 Carlton Lane junction.

    Improvements to B6481 Pontefract Road, from Thwaite Gate to M1 junction 44, focus on creating a segregated cycle track along the route, linking to existing cycling provision on the A639 Thwaite Gate, allowing residents a safer and more direct route to Leeds City Centre and the ability to access businesses along the industrial estate, which often operates night-time shifts which are not suited to public transport use.

    If the proposals were to go ahead, a £9.14million funding pot from the Government’s Transforming Cities Fund, ringfenced to transport schemes, would be invested to carry out the works – £2m for the A61 and £7.14m for Pontefract Road.

    Proposals for the A61 include:

    • Wider pavements and footpaths, including doubling pavement width on Long Thorpe Lane, on the approach to Rodillian Academy, to help students and people feel safer when walking in the area
    • Shared-use footways to help cyclists travel easily and safely
    • New traffic signals at the Jumbles Lane junction to help improve traffic flow and offer safe crossings for people walking and cycling in the area.
    • Traffic signals to be fitted with new technology which will give buses priority and improve bus journey times and reliability
    • On-carriageway cycle lanes and advanced stop lines at the Jumbles Lane junction
    • Existing traffic island crossing, near Nisa Local, upgraded to a signalised pedestrian crossing to make it easier for people walking to cross
    • A road closure for motor vehicles at the Carlton Lane/A61 junction. This is a hotspot for collisions, and vehicles travel at speed along the road. Motor vehicles will access Carlton Road via Jumbles Lane.
    • New landscaping and greenery

     Proposals for B6481 Pontefract Road include:

    • Wider pavements and footpaths to allow safer access to bus stops and local businesses
    • New and improved crossing facilities for people on foot and wheeling at various key locations
    • New, separate cycle crossing facilities for people cycling, at various key locations
    • Creation of a one-way, segregated cycle path either side of Pontefract Road, linking to existing provision on A639 Thwaite Gate. Some areas of shared use footways.
    • Signalising of the rail bridge tunnel – shuttle working traffic lights will be installed to control the flow of vehicles, allowing one direction of traffic to pass at a time, improving safety and bus reliability
    • New landscaping and greenery

    Following feedback, the council is proposing to deliver these improvements first to meet the funding deadline, subject to the second round of consultation. The remaining proposals which are not currently being taken forward may be revisited in future should funding become available.

    Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said:

    “This scheme will create a safer and more accessible experience for all types of road user on these roads. The proposals help people access Leeds City Centre, local amenities and employment by creating alternative, sustainable ways to travel to essential destinations.

    By offering safe and easy alternatives to the car, we can help to meet our Leeds Transport Strategy targets and create a prosperous, less congested Leeds, with healthier residents”.

     Councillor Peter Carlill, Deputy Chair of the West Yorkshire Combined Authority Transport Committee, said: 

    “These proposals will make it easier and safer for everyone to walk, wheel, cycle and use public transport on two busy routes. I’d encourage people to have their say so that we can continue building a greener, better-connected West Yorkshire for all.”

    Have your say

    You can have your say before the consultation closes on 11.59pm on 10 March 2025.

    1.      Feedback online by visiting the Your Voice webpage.

    2.      Attend one of our in-person drop-in events:

    • Wednesday 12 February 2025, 6:30-9pm – Main Hall, The Rodillian Academy, Longthorpe Lane, WF3 3PS.
    • Tuesday 18 February 2025, 11am-3pm – Hunslet Library, Waterloo Road, LS10 2NS. 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Get winter strong – free flu vaccinations still available

    Source: City of Wolverhampton

    They include all adults aged 65 years and over, people who live in a care home for older adults, people aged 6 months to 64 years with health conditions that make them more vulnerable, frontline health and social care staff including those working in care homes for older adults, and pregnant women.

    Those eligible can get their vaccination without an appointment at one of a number of pop-up clinics being held in Wolverhampton until the end of March.

    They include clinics at: Sainsburys, Bentley Bridge, from 11am to 6pm on Thursdays 6 February, 20 February, 6 March and 20 March; Queen Square, Wolverhampton, from 9am to 3pm on Fridays 7 February, 21 February, 7 March and 21 March; and Sainsburys, Raglan Street, Wolverhampton, from 9am to 3pm on Thursdays 13 February, 27 February, 13 March and 27 March.

    Clinics are also operating in other parts of the Black Country – for full details please visit 
    Flu pop-up vaccination clinics.

    Councillor Jasbir Jaspal, the City of Wolverhampton Council’s Cabinet Member for Adults and Wellbeing, said: “It’s vital that we all do everything we can to protect ourselves from winter illnesses such as flu, especially those of us who may be at higher risk.

    “I would therefore encourage anyone who is yet to have their flu vaccination this winter to get it at one of the pop-up clinics taking place over the next few weeks, and ideally sooner rather than later.”

    Anyone not eligible for a free flu vaccination is reminded that they can still get it for a small charge at participating pharmacists.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Marat Khusnullin: More than 2 thousand km of utility networks have been updated under a program with the participation of the federal budget since 2023

    Translartion. Region: Russians Fedetion –

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

    In 2023, a program to modernize public utilities infrastructure with support from the federal budget was launched. Under it, over 2,000 utility networks were built and modernized in Russian regions, Deputy Prime Minister Marat Khusnullin reported.

    “One of the key areas of work of the Russian construction complex in the coming years is the modernization of the public utility infrastructure. This is an extremely important area that directly affects the comfort, mood and well-being of our citizens. At the same time, housing and communal services are one of the most sensitive industries, requiring a lot of attention and work. On the instructions of the President, by 2030, Russia needs to improve the quality of public utilities for 20 million citizens. To achieve this goal, within the framework of the national project “Infrastructure for Life”, we will actively engage in the modernization of the industry. At the same time, there are already certain results. Under the program, with the involvement of the federal budget, over 1.1 thousand events in the public utility sector have been implemented in two years. Since 2023, major repairs, construction and reconstruction of more than 2 thousand km of public utility networks, as well as industrial facilities, including boiler houses, water intake, wastewater treatment facilities have been carried out,” said Marat Khusnullin.

    According to the Deputy Prime Minister, the largest volume of work was carried out by Smolensk Region, where 209.2 km of networks were updated and 6 facilities were put into operation, Sverdlovsk (189.3 km), Chelyabinsk (137.8 km and two facilities) Regions, the Republics of Tatarstan (128 km) and Bashkortostan (115 km).

    “Renovation of housing and communal services is extremely important for improving the quality of life of people, ensuring the safety and energy efficiency of residential buildings. It is important to increase the pace of this work. In 2024 alone, 704 events were implemented under the program with the participation of support from the federal budget, including the construction and modernization of 1.5 thousand km of networks and the commissioning of 11 industrial facilities,” said Minister of Construction and Housing and Communal Services Irek Faizullin.

    Ilshat Shagiakhmetov, CEO of the Territorial Development Fund, the operator of this program, reported that the modernization of the communal infrastructure in the country will be based on data from the automated information system (AIS) of the FRT.

    “It is impossible to improve what cannot be measured. Therefore, the first thing is accounting. It is necessary to understand where and what specific problems need to be solved as a matter of priority. Therefore, in the AIS FRT, we have formed a database of all key elements of the public utility infrastructure. It includes 240 thousand objects, about 1 million km of utility networks and about 12 thousand resource-supplying organizations. Based on this data, together with the Ministry of Construction and the regions, we are preparing a comprehensive plan for the modernization of the public utility infrastructure. We will make every effort to successfully achieve the goals of the national project “Infrastructure for Life”, – noted Ilshat Shagiakhmetov.

    The program for the modernization of public utilities infrastructure is being implemented within the framework of Government Resolution of December 8, 2022 No. 2253Under this mechanism, regions receive subsidies for the renovation of public utility facilities and networks.

    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: EcoEngineers Expands Accreditation and Scope Extensions Internationally

    Source: GlobeNewswire (MIL-OSI)

    DES MOINES, Iowa, Feb. 04, 2025 (GLOBE NEWSWIRE) — EcoEngineers (Eco), a consulting, auditing, and advisory firm with an exclusive focus on the energy transition and decarbonization, today announced two new scope extensions granted by the American National Standards Institute (ANSI) National Accreditation Board (ANAB).

    The ANAB scope accreditations are a testament to the firm’s commitment to robust and comprehensive quality management systems. The accreditations underscore the firm’s dedication to providing clients with the assurance, credibility, rigor, and continuous improvement they need on their journey to develop green hydrogen and greenhouse gas (GHG)-mitigation projects worldwide.

    Specifically, Eco was granted scope accreditation for the following:

    1. Green Hydrogen (CFR Sector 4): Verification of applications and reports under Canada’s Clean Fuel Regulations (CFR), strengthening the company’s leadership in hydrogen verification and bolstering Eco’s ability to support U.S.-based clients expanding into Canada and open new avenues for verification projects.
    2. Land Use and Forestry (ANAB Group 3): Verification of GHG emission reductions and removals, including soil carbon sequestration, positioning the company as a leading verifier of sustainable farming practices for Climate-Smart Agriculture (CSA) crops used as biofuel feedstock.

    The latest scope extensions follow Eco’s accreditation granted by ANAB as a validation and verification body (VVB) in accordance with International Organization for Standardization (ISO) standards in 2023 and the CFR Sector 2 Renewable/Bio/Low-CI Fuels scope accreditation achieved in 2024.

    “These new scope extensions demonstrate Eco’s ongoing dedication to excellence in verification and our ability to adapt to the evolving needs of the carbon marketplace,” said Randy Prati, vice president of strategic initiatives at EcoEngineers. “Our clients can rely on us to deliver robust, credible, and transparent verification services.”

    Poised for Growth

    In parallel, Eco is pursuing additional accreditations such as becoming a certification body under international voluntary and regulatory compliance schemes. Eco is also expanding its presence in Europe to obtain national body accreditation recognition, which will allow the firm to offer its clients verification and certification services under multiple European voluntary schemes.

    “Our ability to help clients substantiate their GHG claims through accurate and transparent processes strengthens their credibility and advances the energy transition,” said Shashi Menon, CEO of EcoEngineers. “These new capabilities highlight our position as a trusted partner in the carbon marketplace.”

    About ANAB

    Launched in 2008, ANAB’s accreditation program for GHG/verification bodies oversees the competence and professional conduct of third parties responsible for verifying the accuracy of emission attestations and applies to a broad spectrum of industries. For more information, visit www.anab.org.

    About EcoEngineers

    EcoEngineers is a consulting, auditing, and advisory firm with an exclusive focus on the energy transition and decarbonization. Its team of engineers, scientists, auditors, consultants, and researchers live and work at the intersection of low-carbon fuel policy, innovative technologies, and the carbon marketplace. Eco’s global team is shaping the response to climate change by advising businesses across the energy transition. Visit www.ecoengineers.us.

    Contact:
    Mary Shaughnessy
    For EcoEngineers
    marys@astorystore.com
    312.218.4508

    The MIL Network –

  • MIL-OSI Asia-Pac: Property sales dip 10.4%

    Source: Hong Kong Information Services

    The Land Registry logged 4,938 sale and purchase agreements for all building units received for registration in January, down 10.4% compared with December 2024 and up 12.2% year-on-year.

    The total consideration for such agreements in January dropped 14.2% from the previous month to $36.7 billion, representing a 9.1% year-on-year growth.

    Of the agreements, 3,626 were for residential units, amounting to an 11.6% decrease from last December and a 4.3% rise from a year ago.

    The total consideration for residential units was $26.7 billion, down 17.9% compared with December 2024 and 3.8% lower year-on-year.

    There were 334,421 land register searches last month.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Jabra Launches the PanaCast 40 VBS, the First 180-Degree Android-Powered Video Bar Designed for Small Rooms

    Source: GlobeNewswire (MIL-OSI)

    • Jabra extends its premium collaboration portfolio with PanaCast 40 VBS (Video Bar System), the only small room Android-bar that captures the entire room with 180-degree field of view
    • The PanaCast 40 VBS has advanced audio technology for exceptional voice clarity with quick and easy installation, ensuring a seamless setup experience
    • Future-proof investment with flexible deployment options on Microsoft Teams, Zoom, or permanent BYOD setups and managed seamlessly with Jabra+

    BARCELONA, Spain, Feb. 04, 2025 (GLOBE NEWSWIRE) — ISE — Today, Jabra, the world’s leading professional audio brand, announced the launch of the PanaCast 40 VBS, the only Android-powered video bar designed specifically for small meeting rooms that captures the entire room with 180-degree field-of-view (FoV). This latest innovation builds on the success of Jabra’s PanaCast 50 VBS, bringing the same powerful performance to smaller spaces in a more compact and cost-effective package.

    As more organizations transition back to the office and hybrid work environments become the norm, the demand for efficient small meeting space solutions continues to grow. These spaces often pose unique challenges for video collaboration, as traditional solutions struggle to capture all participants equally—particularly those seated closer to the screen—while some lack video conferencing equipment altogether. This imbalance can result in empty meeting rooms and gaps in communication, underscoring the need for solutions that provide clear, inclusive experiences for everyone, regardless of location.

    The PanaCast 40 VBS bridges this gap by delivering an all-in-one solution that transforms small meeting rooms into high-performing collaboration hubs. With its wide field of view, exceptional audio quality, and seamless usability, the PanaCast 40 VBS ensures every participant is seen and heard clearly, enabling organizations to fully utilize their small spaces and bring collaboration to new heights.

    Redefining collaboration for small spaces

    Globally, less than 3% of small meeting spaces, or huddle rooms, are video enabled*, leaving millions of these rooms underutilized and underserved. The PanaCast 40 VBS addresses this challenge with its innovative dual-camera systems, delivering a seamless 180-degree field of view through advanced stitching technology. This ensures full room coverage, making every participant clearly visible on video.

    The video capabilities are matched by the advanced audio performance, which stems from the GN group-wide unique sound processing capabilities. The sound is powered by a single high-quality speaker and six microphones with adaptive beamforming. Intelligent audio algorithms enhance sound clarity for exceptional voice pickup, so every word is heard clearly and accurately, fostering more natural and engaging virtual interactions and ensuring remote participants feel fully included.

    The PanaCast 40 VBS reimagines what’s possible for huddle rooms, transforming small spaces into comfortable collaboration areas and allowing facility managers to unlock the full potential of these underutilized spaces.

    Designed for ease of use and rapid deployment

    Designed with simplicity and ease of use at its core, the PanaCast 40 VBS offers a straightforward installation process—from unboxing to mounting to the first meeting. Its intuitive setup ensures that even first-time customers can get their systems up and running in seconds, making collaboration effortless.

    New packaging enhances the deployment experience further by allowing provisioning without the need to remove the product from the box. The design also features easy cable routing, reducing installation time. The PanaCast 40 VBS is ideal for quick and easy installations in small rooms, such as Express Install for Microsoft Teams Rooms.  

    It also ensures a consistent and seamless experience for small meeting spaces by sharing many of the same accessories as its medium room counterpart, the PanaCast 50 VBS. This enables simplified operations for administrators and flexibility across different room sizes, making the PanaCast 40 VBS a versatile and efficient solution for modern office needs.

    A future-proof investment

    The PanaCast 40 VBS is built to adapt to the evolving needs of modern workplaces, particularly for small Android environments. With its certified compatibility for Android environments, it offers flexibility with Zoom, Microsoft Teams, and BYOD deployment options.

    To enhance usability and longevity, the PanaCast 40 VBS includes optional accessories such as a touch controller and a detachable faceplate for easy cleaning. It can also be purchased as a bundle, with both the PanaCast 40 VBS and the touch controller included. Seamless integration with ecosystem partners ensures a future-proof investment, complemented by up-to-date manageability through Jabra+ software and the reassurance of Jabra Warranty+ services.

    Holger Reisinger, SVP Enterprise Video Business Unit at Jabra said: “The modern workplace is undergoing a transformation, with organizations reimagining how their spaces can drive productivity and collaboration. Small rooms, phone booths and huddle spaces are a cornerstone of this evolution, yet they’ve often been overlooked by traditional video solutions. With the PanaCast 40 VBS, we’re addressing this gap by delivering a flexible, intuitive, and future-proof Android solution that empowers teams to collaborate seamlessly, regardless of room size or platform preference.”

    Key features of the PanaCast 40 VBS include:

    • Full-room coverage – 180-degree field-of-view with dual cameras and 4x digital zoom
    • Superior audio – 1 speaker and 6 microphones, enhanced by intelligent audio algorithms for crystal-clear sound and voice pickup
    • Streamlined setup – New packaging enables provisioning without removing the product from the box
    • Consistent experience – Shared touch controller and stand with the PanaCast 50 VBS medium room solution for seamless integration across spaces
    • Effortless installation – Simplified cable routing and protection for easy, clean setup
    • Flexible deployment – Compatible with Microsoft Teams, Zoom, and BYOD setups
    • MDEP-based solution (Microsoft Device Ecosystem Platform) – Delivers strengthened security and enhanced meeting experiences
    • Intelligent Meeting Space – Enables users to personalize and set virtual meeting space boundaries – perfect for open-plan offices or glass-walled rooms
    • Always up to date – Managed via Jabra+, ensuring the latest features and functionality
    • Reliability – Backed by Jabra Warranty+ for added peace of mind
    • Modern design – Clean, professional aesthetic that fits seamlessly into contemporary workspaces
    • Practical features – Easy-clean cover and ADA compliance for enhanced usability

    Jabra PanaCast 40 VBS will be available from Mid-2025. MSRP: $1,499. For more information please visit https://www.jabra.com/panacast40vbs.

    *Frost and Sullivan, 2024

    Note to editors 

    Hayley Minardi
    Manager, PR & Communications, North America
    hminardi@jabra.com  

    About Jabra

    Jabra is a world leading brand in audio, video and collaboration solutions – engineered to empower businesses. Proudly part of GN Group, we are committed to bringing people closer to one another and to what is important to them. Jabra engineering excellence leads the way, building on over 150 years of pioneering work within GN. This allows us to create integrated tools for contact centers, offices, and collaboration to help professionals work more productively from anywhere. www.jabra.com

    Founded in 1869, GN Group employs more than 7,000 people and is listed on Nasdaq Copenhagen (GN.CO). GN’s solutions are sold in 100 countries across the world.  Visit our homepage GN.com or connect with us on LinkedIn, Facebook, and X. 

    © 2024 GN Group. All rights reserved. Jabra® is a registered trademark of GN Group. All other trademarks included herein are the property of their respective owners (design and specifications are subject to change without notice).

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fc30d00d-063a-40a9-ad5b-70d4406a3597

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c026aaa2-62ef-4c1c-9b32-bd137bad8bc4

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d94cff48-9b76-41f5-81d5-e2143affc28a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/989c5fb5-678a-4287-b7f3-9f7266ce11c3

    The MIL Network –

  • MIL-OSI USA: News 01/30/2025 Blackburn, Risch, Colleagues Introduce Bill to Expand Prohibitions on Use of Foreign Assistance Funding for Abortions

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)

    WASHINGTON, D.C. – U.S. Senators Marsha Blackburn (R-Tenn.), Jim Risch (R-Idaho), Roger Marshall (R-Kan.), Rand Paul (R-Ky.), Rick Scott (R-Fla.), Markwayne Mullin (R-Okla.), Steve Daines (R-Mont.), Tim Sheehy (R-Mont.), Bill Hagerty (R-Tenn.), and Pete Ricketts (R-Neb.) today introduced the American Values Act, legislation to permanently enact and expand existing prohibitions on the use of U.S. foreign assistance to pay for the performance or promotion of abortion services overseas.

    “Human life across the world must be protected, and the use of taxpayer dollars to fund abortions abroad is contrary to American values,” said Senator Blackburn. “This bill would strengthen the existing restrictions on the use of foreign assistance for abortions, making it crystal clear such actions will not be tolerated.”

    “American foreign aid should always be used in a way that is in line with American values- and that means that no foreign assistance funds should ever be used to perform or promote abortion services,” said Senator Risch. “I’m proud to introduce the American Values Act with my colleagues to hold our government accountable to this standard and protect the sanctity of life across the globe.”

    “As President Donald J. Trump re-evaluates foreign aid, it’s absolutely essential that American taxpayer dollars are never used to fund abortions here or anywhere in the world,” said Senator Mullin. “Our nation was founded on the principles of life, liberty, and the pursuit of happiness, and it’s our job to protect those values. I’m glad to join this important legislation to defend the sanctity of life.” 

    “No American taxpayer should be forced to fund abortions overseas,” said Dr. Paul. “It’s bad enough that Washington spends recklessly at home, but using taxpayer dollars to promote abortion abroad is an insult to both life and fiscal responsibility. This legislation is a necessary step towards reigning wasteful spending and standing for the fundamental right to life.”

    Senator Rick Scott said, “It’s extremely troubling that American tax dollars could be used to promote or perform abortion overseas. Our American Values Act ensures U.S. taxpayer dollars sent as foreign aid are helping families, not harming human life.” 

    “Americans made it clear this year with the election of President Trump that they have rejected the left’s radical, pro-abortion agenda. I’m proud to join my colleagues in introducing this legislation to end the United States’ funding of abortions abroad and help our nation once again become a defender of life across the globe,” said Senator Daines.

    “As the right to life is the most fundamental human right of all, I strongly oppose sending U.S. taxpayer dollars overseas to promote or perform abortion,” said Senator Hagerty. “I’m pleased once again to support the American Values Act that seeks to close loopholes and uphold pro-life values in U.S. diplomacy and development by placing permanent restrictions on the use of U.S. foreign assistance to fund abortions and involuntary sterilizations.”

    AMERICAN VALUES ACT:

    If enacted, this legislation would:

    • Clarify that existing prohibitions on the use of U.S. foreign assistance to pay for the performance or promotion of abortions, forced sterilizations, or biomedical research relating to abortions or forced sterilizations shall apply to all assistance under the Foreign Assistance Act;
    • Permanently enact long-standing appropriations restrictions on the use of foreign assistance funds to lobby for or against abortion;
    • Permanently enact long-standing appropriations restrictions on the provision of foreign assistance funds to organizations that support or participate in the management of a program of coercive abortion or involuntary sterilization; and
    • Permanently enact long-standing appropriations restrictions on the use of funds made available to the Peace Corps to pay for abortions.

    MIL OSI USA News –

  • MIL-OSI Russia: Return to the roots: 145 years of the historical foundation of the State University of Management!

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    In 2024, the State University of Management celebrated the 105th anniversary of its foundation. On April 30, 1919, according to the decree of the People’s Commissariat of Industry and Trade of the USSR, the Moscow Industrial and Economic Practical Institute (MPEPI) received the status of an institution equal to an institution of higher education. From that moment on, the official chronicle of our university has been kept. But, as often happens in times of change, some pages of history were forgotten. This happened with the biography of the First Management University of the country. We invite you to dive deep into the history of the SUM, rediscover it, and learn its origins.

    MPEPI did not appear out of nowhere. Before the proclaimed power of the Soviets, the address Staraya Basmannaya, 21/4 housed the Aleksandrovskoye and Nikolaevskoye commercial schools, as well as the Trade Schools named after the Emperor of Russia Nicholas II.

    On February 19, 1880 (March 3, new style), exactly 145 years ago, in honor of the 25th anniversary of the reign of Emperor Alexander II, the Moscow stock exchange merchants decided to found a commercial school in the capital for people of the trade and industrial class. Alexander II was not only a tsar-liberator (the Manifesto on the liberation of the peasants from serfdom was also signed on February 19 (March 3), 1861), but also a champion of education. Thus began the first chapter in the life of the Aleksandrovsky Commercial School, which years later acquired its current name – the State University of Management.

    The curricula approved by the Ministry of Finance in agreement with the Ministry of Public Education of the Russian Empire were adopted on July 11, 1885. The first academic season began at the same time.

    The Aleksandrovsk Commercial School was located at 21 Staraya Basmannaya in the building of the palace of Prince A.B. Kurakin. For decades to come, the school received significant support from the state and business, whose representatives joined the Board of Trustees of the “useful institution.” The members of this board and the teaching staff of the school were famous people of their time: P.M. Tretyakov, D.V. Tsvetaev, S.V. Alekseev, A.K. Trapeznikov, N.A. Naidenov, A.V. Letnikov. All of them were outstanding figures of that era, whose influence went far beyond the Moscow stock exchange community.

    The initiator of the creation of the school was a well-known entrepreneur, banker, chairman of the Stock Exchange Committee and chairman of the Board of Trustees of the school – Nikolai Aleksandrovich Naidenov. Its first director was a corresponding member of the St. Petersburg Academy of Sciences, an outstanding mathematician, and an organizer of science – Alexei Vasilyevich Letnikov.

    During that era, such scientists as mathematician V. Ya. Tsinger, historians V. I. Picheta and D. V. Tsvetaev, astronomer P. K. Sternberg and others taught. Incidentally, the exhibits of the school, which characterized the educational base and educational process, were awarded a medal at the World Exhibition in Paris in 1900. Some of the artifacts and photographs from those years are kept at the disposal of the Museum of the State University of Management, where you can also read literature and get acquainted with the exhibition stands telling about the first steps of the university at the turn of the 19th and 20th centuries.

    After the October Revolution of 1917, the existence of any institutions bearing the imperial name was no longer possible. New educational institutions with a practical focus – technical schools – were created in the country. The new historical form of the Aleksandrovsky Commercial School was the Moscow Industrial and Economic Technical School (MPET).

    The Soviet MPET was located in the same complex of buildings on Staraya Basmannaya. The teaching and student staff also remained almost unchanged. A letter calling for applications for work at the newly created technical school, published in the Izvestia newspaper on July 20, 1918, was answered by 53 teachers from the Aleksandrovsky, 23 from the Nikolaevsky commercial schools, and 21 teachers from the Women’s Trade School. Students who transferred from the Aleksandrovsky school continued their education at the MPET and years later received Soviet diplomas. The first heads of the technical school were teachers from the school and the trade school, Paisiy Ivanovich Shelkov and Arkady Grigorievich Arkhangelsky.

    Let us emphasize once again that most of the teachers and students of the Alexandrovsky Commercial School transferred to the MPET, even the address remained the same, only the statutory documents changed. The continuity of the intellectual heritage in the field of financial, economic, technical knowledge and the glorious traditions of the imperial school is direct and obvious.

    During the Soviet years, the idea of this continuity was abandoned based on the principle of “We are ours, we will build a new world.” In 1919, the MPET was transformed into the Moscow Industrial and Economic Practical Institute (MPEPI). Later, in the 1930s, the institute began to be called the Moscow Engineering and Economic Institute. And it bore this name until 1975, when, having gained a scientific, academic and pedagogical base of the new management order, it received a completely recognizable name – MIU, Moscow Institute of Management, which later became the State University of Management.

    Thus, we would like to pay tribute to historical justice. It is time to recognize and openly declare – the State University of Management turns 145 in 2025! The Aleksandrovsk Commercial School is the historical foundation of our university. It is impossible to forget and remain silent about this fact. It expresses the connection between generations and the university spirit of the first management academic institution in Russia.

    Happy anniversary, dear university! Happy 145th anniversary!

    Subscribe to the TG channel “Our GUU” Date of publication: 02/04/2025

    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 Russia: The government has defined a list of industries that will not be subject to restrictions on floating interest rates on loans

    Translartion. Region: Russians Fedetion –

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

    Microenterprises operating in the construction, warehousing, hotel business, rental and leasing, as well as health resort services, will be able to take out loans without restrictions on the application of a floating rate. The order to this effect was signed by Prime Minister Mikhail Mishustin.

    The decision will support housing construction, which plays a decisive role in the economy, as well as retailers and the hotel industry, which is especially important in the context of sanctions restrictions.

    Often projects in these areas are implemented on the basis of separate, specially created organizations that can be classified as microenterprises. It is advantageous for such enterprises to take out a loan at floating rates, since in this case the interest rate will be lower than the market rate due to the risk of its possible increase.

    For example, for developers, the fixed interest rate on loans today can reach 27-28% per annum. At the same time, the floating rate is about 20% per annum.

    In June 2024, State Duma deputies adopted amendments to a number of current laws that limited the use of floating rates on loans. These same amendments gave the Government the right to determine industries that would not be subject to such restrictions.

    The document will be published.

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

    MIL OSI Russia News –

  • MIL-OSI USA: Padilla, Schiff, Senate Judiciary Committee Democrats Demand Answers From Trump Administration on Purging of DOJ and FBI Officials

    US Senate News:

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

    Padilla, Schiff, Senate Judiciary Committee Democrats Demand Answers From Trump Administration on Purging of DOJ and FBI Officials

    WASHINGTON, D.C. — Today, U.S. Senators Alex Padilla and Adam Schiff (both D-Calif.) joined U.S. Senate Democratic Whip Dick Durbin (D-Ill.) and all other Senate Judiciary Committee Democrats in demanding answers from Trump Administration nominees and acting officials on the removal or reassignment of career law enforcement officials across the Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI).

    Last week, the Trump Administration reportedly purged dozens of DOJ and FBI officials involved in prosecuting Donald Trump and the January 6 rioters, and they are now threatening additional action against thousands of employees across the country who worked on investigations related to the attack on the Capitol. The Senators wrote to Pam Bondi, President Trump’s nominee to be the Attorney General of DOJ; Kash Patel, nominee to be the Director of the FBI; Todd Blanche, nominee to be Deputy Attorney General; Acting Attorney General James McHenry; and Acting FBI Director Brian Driscoll regarding the mass purging.

    “We have grave concerns about the removal or reassignment across the Department of Justice (DOJ) and Federal Bureau of Investigation (FBI) of senior career civil servants who have served honorably under multiple administrations, regardless of the President’s party,” wrote the Senators. “The removals and reassignments from their positions of a significant number of experienced, nonpartisan Department officials with invaluable national security expertise without any comparable replacements one day into the second Trump Administration presents an alarming threat to national security.”

    “As America faces a heightened threat landscape, these shocking removals and reassignments deprive DOJ and the FBI of experienced, senior leadership and decades of experience fighting violent crime, espionage, and terrorism,” continued the Senators. “As the FBI Agents Association stated in response to reports about the removal of FBI officials: ‘Dismissing potentially hundreds of Agents would severely weaken the Bureau’s ability to protect the country from national security and criminal threats and will ultimately risk setting up the Bureau and its new leadership for failure.’ Moreover, the firing of dozens of federal prosecutors and hundreds of agents will cripple FBI field offices and U.S. Attorney’s offices across the country. We can only assume these decisions are intended to prevent the Department from investigating national security and public corruption, while also serving as political retribution against the President’s perceived enemies and stoking fear among the dedicated and talented workforce in our nation’s premier law enforcement agency.”

    As many as 20 senior DOJ officials were reassigned or removed, including the veteran career deputy assistant attorneys general in the Department’s National Security Division.

    Over the weekend, thousands of FBI personnel across the country were asked to complete a questionnaire by today, Monday, February 3, at 3 p.m. The survey asks for their job title, whether they worked on a case related to the January 6th attack on the Capitol, “if they were involved in the arrest of a Jan. 6 suspect, if they testified at a trial, if they interviewed witnesses, if they conducted surveillance on suspects and more.” It has also been reported that the Acting FBI Director is being advised by an advisory committee comprised of partisan political operators, including an Elon Musk affiliate. This is a stark departure from the longstanding tradition that the FBI Director is the only political appointee in the Bureau.

    The purge of experienced career prosecutors and agents has recently expanded to include the removal or forced retirement of all six executive assistant directors (EADs), including the EADs who oversee the National Security Branch, Intelligence Branch, and the Criminal, Cyber, Response, and Services Branch. It also includes the assistant Directors and the Special Agents in charge of at least four major field offices. Acting Deputy Attorney General Emil Bove ordered these actions in a January 31, 2025 memo, stating, “I do not believe the current leadership of the Justice Department can trust these FBI employees to assist in implementing the President’s agenda faithfully.”

    Additionally, over a dozen senior DOJ prosecutors were fired after receiving memos from Acting Attorney General McHenry, stating “Given your significant role in prosecuting the President, I do not believe that the leadership of the Department can trust you to assist in implementing the President’s agenda faithfully.”

    The Senators emphasized that the Senate Judiciary Committee has a constitutional obligation to perform oversight over the Department and its components, and to provide advice and consent on the nominations of officers to lead it. To that end, they requested information to be returned to the committee in response to the removal of FBI and DOJ officials. They also requested answers from these individuals about their involvement. 

    In addition to Senators Padilla, Schiff, and Durbin, the letters were signed by U.S. Senators Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Chris Coons (D-Del.), Mazie Hirono (D-Hawaii), Amy Klobuchar (D-Minn.), Peter Welch (D-Vt.), and Sheldon Whitehouse (D-R.I.).

    Full text of the letter to Attorney General nominee Pam Bondi is available here.

    Full text of the letter to FBI Director nominee Kash Patel is available here.

    Full text of the letter to Deputy Attorney General nominee Todd Blanche is available here.

    Full text of the letter to Acting Attorney General McHenry and Acting FBI Director Driscoll is available here.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Becketwell Live celebrates major milestone with practical completion ahead of Spring

    Source: City of Derby

    The highly anticipated £45.8 million Becketwell Live has reached practical completion with developers St James Securities delivering the venue on time and on budget.

    Derbyshire-based construction firm Bowmer + Kirkland recently completed the final stages of construction on the entertainment venue ahead of its opening this Spring. The venue has now been handed over to owners Derby City Council and operators Legends and ASM Global, the world’s preeminent premium live events company.

    Becketwell Live is set to become a hub of entertainment, attracting audiences from across the region and beyond. Legends and ASM Global have already unveiled a number of events, including beloved British comedian John Bishop, legendary band Wet Wet Wet and acclaimed actress and author Miriam Margolyes.

    Built on the site of the former Pink Coconut nightclub on Colyear Street, the new venue will significantly enhance Derby’s cultural offering, with a larger, more flexible space than the city centre has had in the past.

    Set to attract an additional 250,000 visitors to Derby each year and generate more than £10m GVA per year for the area, the flexible venue will bring diverse events to Derby, drive the night-time economy and increase levels of investment in surrounding areas of the city centre.

    With a capacity of 3,500, made up of a flexible combination of floor seating, retractable bleacher seating and fixed upper tier seats, the venue can host a range of events from concerts, stand-up comedy, exhibitions, and business events.

    The venue will boast state of the art acoustics, all of which have gone through thorough sound testing for all types of events. The purpose-built, state-of-the-art back of house spaces have been designed in such a way to ensure smooth transitions from one type of event to another. Plus, there is an array of beautiful General Admission and premium space for guests to enjoy.

    The Becketwell regeneration scheme is being delivered by Leeds-based property developers St James Securities, who have a track record of delivering successful major regeneration schemes.

    In February 2022, Peveril Securities, the development arm of the Bowmer + Kirkland Group, agreed to become funding and development partners for future phases of the Becketwell scheme.

    Becketwell Live forms the second phase of the £200m scheme, which is the most significant urban rejuvenation project in the city for more than three decades.

    Phase one includes The Condor, the city’s first purpose-built Build to Rent scheme, owned and operated by Grainger plc and Springwell Square, and a new public green space for the city.

    Commenting on practical completion of the arena, Paul Morris, Development Director at St James Securities, said:

    The completion of Becketwell Live marks a transformative moment for Derby, delivering a world-class venue that will and drive significant economic growth and serve as a catalyst for the city’s future regeneration.

    This project has been more than five years in the making, and we are immensely proud to have developed a venue that will attract top-tier events and enhance the city’s cultural vibrancy, enriching the lives of its residents.

    Councillor Nadine Peatfield, Leader of the Council and Cabinet Member for City Centre, Regeneration, Strategy and Culture said:

    This is a huge leap forward in the Becketwell journey, bringing us much closer to realising our vision of transforming Derby into vibrant city centre that prioritises and celebrates culture.

    A huge thanks to all of our partners and everyone involved for their incredible work on this project. This has been a long time in the making and I’m very proud that we’ve been able to support our partners to reach practical completion on time and on budget.

    Becketwell Live will provide a significant boost to our city’s cultural sector and economy and we can’t wait to open the doors to the public this Spring.

    Marcus Sheehan, General Manager of Becketwell Live said:

    This is yet another exciting milestone as we move closer to opening the doors of Becketwell Live. Thanks to the brilliant teams who have done an incredible job in bringing this venue to life, ready to bring the very best in live entertainment to the heart of Derby.

    Gus Kedzior, Bowmer + Kirkland’s Regional Director for North Midlands & Yorkshire said:

    We are incredibly proud to have been appointed to build this amazing landmark venue in Derby. Our site team has done a great job in ensuring this project has been handed over on time, within budget, and we are thrilled with the final outcome.

    It really has been a team effort throughout, and a pleasure to work collaboratively with St James Securities, Legends and ASM Global, and Derby City Council. Becketwell Live will now become the third scheme we have completed for DCC, joining Moorways Sports Village and Derby Arena.

    It is also worth noting the additional social value that a building of this scale creates for the local area, bringing jobs, apprenticeship opportunities and income. We are proud to have played a vital role in helping to rejuvenate this area of the city and are looking forward to seeing its doors open to the public in the spring.

    Ralph Jones, Managing Director of Peveril Securities and main Board Director of Bowmer + Kirkland, added:

    Peveril Securities and St James Securities both share the same ambition for Derby city centre, and we are proud to have worked together to deliver such a transformational scheme.

    We are delighted to have brought our financial strength, development and construction expertise to this exciting project, which is local to Peveril Securities.

    MIL OSI United Kingdom –

  • MIL-OSI Australia: Queensland Government introduces more rigorous assessment process for wind farm developments

    Source: Allens Insights

    A significant shift for the state’s wind energy sector 7 min read

    From 3 February 2025, wind farm developments in Queensland will transition from a code assessable to an impact assessable application process, introducing a more rigorous assessment process. This shift reflects the Queensland Government’s growing concerns over environmental impacts and community opposition and marks a significant change for the state’s wind energy sector.

    The revised State Code 23: Wind farm development (v.3.2) (Updated Wind Farm Code) introduces updated requirements, including stronger community engagement obligations, agricultural land protections and new infrastructure and decommissioning provisions. These updates aim to provide a more structured approach to managing the potential environmental, community and infrastructure impacts throughout the lifecycle of wind farm projects.

    In this Insight, we explore the additional assessment requirements, including expanded public consultation and a broader technical review, and outline the key considerations for developers, investors and government bodies amid increased scrutiny, public engagement obligations and regulatory hurdles.

    Key takeaways

    • Wind farm developments in Queensland will now undergo impact assessment, leading to heightened technical scrutiny, public consultation and appeal rights for submitters.
    • The transition from State Code 23: Wind farm development (v.3.1) to the Updated Wind Farm Code marks a notable policy shift, increasing regulatory scrutiny on wind farm development.
    • The new requirements introduce enhanced environmental protections, agricultural safeguards and community engagement obligations.
    • Infrastructure obligations have been expanded, including:
      • road and transport measures to mitigate impacts on local road networks during both construction and operation, ensuring safe and efficient transportation of wind farm components and materials throughout the project lifecycle.
      • financial security for decommissioning, requiring developers to provide bonds or financial guarantees to ensure the timely rehabilitation of sites and removal of infrastructure at the end of the wind farm’s operational life.
      • stronger community engagement requirements, including the submission of a Workforce Accommodation and Infrastructure Report to assess impacts on housing, services and local infrastructure, with a focus on consulting with local governments regarding workforce accommodation strategies and their impact on the community.
    • The Queensland Government has also signalled future regulatory changes that may apply similar impact assessment requirements to large-scale solar farms and other renewable energy projects, suggesting a broader policy shift.

    Changes to the assessment process

    The Planning (Wind Farms) Amendment Regulation 2025 (Qld) (Amendment Regulation) effective from 3 February 2025, raises the assessment threshold for wind farms from code assessable to impact assessable,.

    The shift follows the Ministerial Direction issued by the Honourable Jarrod Bleijie MP, Deputy Premier, Minister for State Development, Infrastructure and Planning, and Minister for Industrial Relations on 16 January 2025, which suspended assessments for the Wongalee, Theodore and Bungaban Wind Farms. The Queensland Government says this change is intended to bring wind farm developments into line with the approval processes required for major development projects, reinforcing its commitment to robust environmental and community impact assessments.

    The increase to impact assessment represents the highest level of scrutiny under Queensland’s planning framework. Wind farm projects will now:

    • require more comprehensive technical assessments
    • have expanded public consultation requirements
    • be subject to appeal rights for submitters, which now apply to wind farm projects subject to impact assessment (and were not available under code assessment).

    Wind Farm Code: key amendments

    The Amendment Regulation introduces the Updated Wind Farm Code, which imposes updated assessment criteria for wind farm development applications.

    Table 1: Key amendments in the Updated Wind Farm Code

    Key change Wind Farm Code Commentary
    Purpose statement

    Revised purpose statement explicitly highlights the potential for adverse impacts, and emphasises the need to demonstrate that development does not result in unacceptable adverse impacts. Specifically includes:

    • minimum assessment parameters to mitigate impacts.
    • emphasis on community and local government engagement.
    • focus on all stages: design, siting, construction, operation and decommissioning.
    		 The Updated Wind Farm Code emphasises greater community consultation, local government engagement and the need to demonstrate effective mitigation of adverse impacts through specific assessment parameters. It introduces a more detailed focus on the siting of developments near sensitive areas and integrates a lifecycle approach, covering all stages of development, including decommissioning.
    Agricultural land protection PO5: requires that wind farm development must ensure there is no significant loss of high-quality agricultural land values. This includes a focus on avoiding or minimising impacts on high-quality agricultural land, aligning with State Planning Policy definitions. The Updated Wind Farm Code introduces the requirement for an Agricultural Land Assessment Report to be submitted as part of the application. This report must demonstrate that the development does not result in a significant loss of high-quality agricultural land values, identifying the land’s suitability for agricultural production and ensuring alignment with the State Planning Policy definitions. It includes an assessment of soils, land suitability and agricultural potential.
    Workforce accommodation

    PO16: on-site workforce accommodation associated with the construction of the wind farm must not result in adverse impacts on surrounding communities and townships, such as overburdening services and community facilities.

    PO17: off-site workforce accommodation associated with the construction of the wind farm must not result in adverse impacts on surrounding communities and townships, such as overburdening services, housing supply and community facilities.

    		 The Updated Wind Farm Code requires applicants to submit a Workforce Accommodation and Infrastructure Report that details both on-site and off-site accommodation options. It includes an assessment of potential impacts on housing supply, community services and local infrastructure. Developers must assess and address the impacts of workforce accommodation on local communities and services, including commuting distances, housing demand and pressure on community facilities. The Updated Wind Farm Code places greater emphasis on consultation with local governments regarding workforce accommodation strategies and their impacts.
    Infrastructure

    PO23: explicitly states that impacts of the development on infrastructure and services, including social infrastructure, communications networks and essential infrastructure, must be identified. Furthermore, measures to manage, mitigate and remediate any impacts must be undertaken:

    • prior to commencement of any development.
    • prior to additional demand being placed on infrastructure and services.

    PO23 requires wind farm developers to assess and mitigate the impact of their development on both essential infrastructure (such as water, waste, electricity and communications networks) and social infrastructure (such as healthcare and emergency services). The Workforce Accommodation and Infrastructure Report is a critical document in this assessment, detailing:

    • the infrastructure and services that may be affected by the development, both during construction and operation.
    • mitigation measures to address any identified impacts, which must be implemented prior to the start of development or before additional demand is placed on local services.
    • consultation with local governments and relevant infrastructure providers to ensure the project is compatible with the existing infrastructure capacity and community needs.
    Community impact PO26: developers must identify, assess and mitigate impacts on local communities, ensuring that any adverse impacts are avoided. The mitigation strategies are explicitly required to address community concerns. This requirement reflects a proactive approach to handling community impacts.

    PO26 requires wind farm developers to identify, assess and mitigate impacts on surrounding communities and individuals. The key practical changes introduced by this Performance Outcome are:

    • Developers must engage with local communities and stakeholders prior to lodging applications. This ensures transparency and allows concerns to be addressed early in the planning process.
    • A comprehensive Community Engagement Report is required, detailing the community profile, stakeholder feedback and how concerns have been or will be addressed. This is a more structured approach compared to previous guidelines, ensuring that community input directly informs project design.
    • The report should also outline measures for managing and resolving complaints, with a Complaint Investigation and Response Plan that includes a toll-free hotline, incident tracking and clear processes for resolving issues raised by the public.
    Decommissioning PO30: introduces a requirement for developers to provide financial security mechanisms (eg bonds or financial guarantees) to ensure timely compliance with decommissioning obligations. The Updated Wind Farm Code requires the preparation of detailed decommissioning plans after the completion of construction and the commencement of operations, as well as at the end of the project’s operational life. These plans must outline how decommissioning activities will ensure no adverse impacts on individuals, communities or the natural environment. Typically, this involves measures to ‘make good’ the land and remove infrastructure. A key addition in PO30 is the requirement for applicants to provide evidence of financial security (such as bonds or financial guarantees) to ensure timely compliance with decommissioning obligations. This aims to mitigate risks and ensure the decommissioning process is completed efficiently, with minimal impacts on landowners and government.

    The effects of the new assessment regime

    • Existing development applications: wind farm development applications lodged before 3 February 2025 will continue to be assessed under the framework that applied at the time of lodgement.
    • New development applications: all new wind farm applications lodged from 3 February 2025 onwards will be subject to impact assessment and must comply with the Updated Wind Farm Code. This means greater technical scrutiny, public consultation and increased regulatory obligations.
    • ‘Other change’ applications: if a change to an existing development approval is classified as an ‘other change’ under the Planning Act 2016 (Qld) (Planning Act), it may trigger a new assessment under the Updated Wind Farm Code.
    • Suspended projects: the Ministerial Direction issued on 16 January 2025 has temporarily paused assessments for the Wongalee, Theodore and Bungaban Wind Farms until 16 May 2025. The assessment pathway for these projects will be confirmed once the suspension period concludes.
    • Potential for Ministerial call-in: the Planning Act provides discretionary call-in powers, allowing the Minister to assess or reassess development applications where a state interest is identified. If a project is called in:
      • the Minister may determine which assessment benchmarks apply, including the possibility of applying the Updated Wind Farm Code.
      • appeal rights available under standard development assessment processes do not apply, with judicial review being the only available legal avenue.

    Next steps

    Developers, investors and government bodies will need to navigate increased scrutiny, public engagement obligations and regulatory hurdles.

    Key considerations moving forward:

    • Regulatory preparedness: developers should carefully review the Updated Wind Farm Code to ensure their projects meet the new planning and environmental benchmarks.
    • Engagement strategies: with heightened public consultation requirements and new appeal rights for submitters, early and proactive engagement with stakeholders is essential to mitigate risk.
    • Financial planning: the new financial security obligations for decommissioning and site rehabilitation will require developers to assess funding provisions at the outset.
    • Monitoring Ministerial intervention: the existing Ministerial Direction and call-in powers add further complexity. Developers should closely monitor regulatory developments and be prepared for increased scrutiny of wind farm projects.
    • Future regulatory changes and community benefit framework: The Queensland Government has signalled its intent to expand impact assessment requirements to other renewable projects, including large-scale solar farms, while introducing a community benefit framework. Renewable energy developers should prepare for additional scrutiny on future projects, which may require demonstrating local economic benefits, job creation, or infrastructure investment as part of the approval process, similar to other major development projects in regional communities.

    The evolving regulatory landscape for wind energy and other renewable projects in Queensland requires strategic planning, legal awareness and other proactive stakeholder engagement. For further advice or detailed information regarding the new planning framework and its implications, please reach out to any of the listed contacts.

    MIL OSI News –

  • MIL-Evening Report: Is this 2025, or 1965? Grammy wins for the Beatles and the Rolling Stones keep the rock canon in the past

    Source: The Conversation (Au and NZ) – By Charlotte Markowitsch, PhD Candidate in Popular Music Studies, RMIT University

    History has repeated in the rock category at this week’s 67th Grammy Awards. Best rock performance was awarded to the Beatles for their song Now and Then, while the Rolling Stones took home best rock album for Hackney Diamonds.

    The Beatles’ track, finished and released by the fab four’s remaining members with the assistance of artificial intelligence, has been recognised by the Recording Academy 55 years after the band broke up. This comes as their eighth Grammy win and 27th nomination since their 1962 debut.

    The Beatles’ long time rivals, the Rolling Stones, have received many accolades over their six decade career, including five Grammys. Their 24th studio album includes cameos from other legacy artists like Elton John and Stevie Wonder.

    These victories are historic – but they also reveal a broader truth about rock music’s biggest institutions. The same artists who defined the genre decades ago continue to dominate its highest honours, leaving little space for contemporary acts to break through.

    The new wave

    The past year has seen a resurgence in rock. Streaming services and radio have reflected a rise in the popularity of the genre and reunions of rock’s most popular bands are making headlines.

    This renewed enthusiasm toward rock has brought newcomers to the genre, including an emergence of new popular talent.

    Newer rock talent was present at the Grammys, with St Vincent (who broke out in 2006) winning Best rock song and Fontaines D.C. receiving their first best rock album nomination since their debut in 2014.

    Both of these artists have been recognised for breathing new life into the rock genre. With a willingness to confront discomfort and vulnerability coupled with distinctive guitar work and production choices, St. Vincent has been positioned as a trailblazer in modern rock.

    Fontaines D.C’s nominated album Romance has been praised by critics for its energetic embrace of a diverse musical palette with compelling lyrics, a sound which has grabbed the attention of those outside and within the rock audience.

    But they were up against a nominee pool largely composed of long career legacy acts such as Green Day, Pearl Jam, Jack White and the Black Crowes, who all broke out in the last millennium.

    Along with the Beatles’ and the Rolling Stones’ wins, this reflects a trend in rock’s institutional recognition, where industry awards, hall of fame inductions, and media retrospectives continue to reaffirm the same monumental figures – often to the exclusion of artists shaping rock today. This phenomenon is a symptom of the rock canon, otherwise known as “the best of all time”.

    The old canon

    The rock canon is a set of artists, albums and songs that have been collectively deemed as the genre’s greatest.

    This canon was solidified by the late 1960s and 1970s and is sustained predominantly by media outlets and awards organisations like the Grammys. Publications that rank “the best” also help shape the rock canon by repeatedly spotlighting the same classic albums and artists.

    To be considered “the best” in rock, artists typically need to meet an (often unwritten) criteria of long-term critical acclaim, commercial success and influence on future generations. Artists like the Beatles and the Rolling Stones meet this criteria, frequently appearing in the top ranks of “best of” lists and maintaining their position at the top of the rock hierarchy.

    But the Grammy wins for the Beatles and the Rolling Stones raise concerns about how rigid this canon remains. Artists who enter the rock canon rarely leave it, making it difficult for newcomers to garner the same levels of critical and commercial success. It has also been criticised for its preferential treatment towards whiteness and masculinity.

    If the canon represents the highest levels of artistic quality in rock, its inability to change poses concerns for the future of the genre.

    Australia has not remained untouched by these issues. While the Grammys are an American institution, the rock canon’s influence extends globally.

    Australian institutions such as Triple J’s Hottest 100 of All Time have demonstrated this influence, showing us that the canon plays a role in shaping Australian music culture. Artists like the Beatles, the Rolling Stones and Led Zeppelin often appear on these lists, voted on by Australian listeners. Local audiences overwhelmingly favour a more standard, mainstream canon of older international rock acts over our own Australian talent.

    The preference towards artists who have long been in the canon in today’s “best of” lists makes it harder for local artists – particularly those from marginalised backgrounds – to gain widespread recognition.

    Crafting a vital genre

    The Grammy success of the Beatles and the Rolling Stones reflects both the strength and the stagnation of rock’s institutional gate-keeping.

    On one hand, these wins celebrate artists whose influence has endured for generations. On the other, they reveal how difficult it is for new acts to gain recognition when institutions continue looking backward rather than forward.

    As rock continues its resurgence, the vitality of the genre may rely on expanding a more inclusive definition of greatness: one that makes room for innovation and diversity, not just nostalgia.

    Will future Grammy ceremonies still be awarding the Beatles and the Rolling Stones, or will we finally see rock’s institutions evolve?

    Charlotte Markowitsch 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. Is this 2025, or 1965? Grammy wins for the Beatles and the Rolling Stones keep the rock canon in the past – https://theconversation.com/is-this-2025-or-1965-grammy-wins-for-the-beatles-and-the-rolling-stones-keep-the-rock-canon-in-the-past-249009

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Amundi: Fourth quarter & Full-year 2024 results

    Source: GlobeNewswire (MIL-OSI)

                    

    Amundi: Fourth quarter & Full-year 2024 results

    Record 2024 net income1,2at €1.4 billion

    Results
    at the highest historical level    		   2024 adjusted net income1,2 of €1,382m, up sharply: +13% vs. 2023

    • Thanks to Revenue growth (+9%) and improvement of the Cost-to-income ratio to 52.5%2
    • Earnings per share2: €6.75

    Q4 2024 – adjusted net income1,2€377m, up +20% Q4/Q4

    Dividend proposed to the Annual General Meeting of 27 May 2025 at €4.25 per share
         
    2024 net inflows multiplied by 2 compared to 2023   Assets under management3at a new record of €2,240bn at end-2024, +10% year-on-year

    Net inflows3+€55bn over the year, of which +€34bn in medium to long term assets excl. JVs

    Q4 net inflows +€20bn, incl. +€18bn in medium to long term assets, record ETF inflows: +€11bn

    Amundi Technology: strong revenue growth and acquisition of aixigo
         
    Major advances
    of the plan
    Ambitions 2025    		   AuM targets achieved one year ahead of schedule for Third-Party Distribution and Passive Management
    Net income2: +6.1% average annual growth 2021-24, above the Ambitions 2025 target
    2024 Cost/income ratio2 already on 2025 target

    3 value-creating external growth operations, in line with strategic and financial objectives

    ESG Ambitions 2025 plan on track

    Paris, 4 February 2025
    Amundi’s Board of Directors met on 3 February 2025 under the chairmanship of Philippe Brassac, and approved the financial statements for the fourth quarter and full year 2024.

    Valérie Baudson, Chief Executive Officer, said:
    “2024 was a record year for Amundi, both in terms of results and activity. Our net income has reached €1.4bn and our net inflows have doubled compared to 2023.
    Our assets under management are at an all-time high, at more than €2.2tn, thanks to very dynamic inflows in several strategic areas, such as third-party distributors, ETFs and Asia. We have also confirmed and expanded our leading position in fixed income strategies. The success of our technological services offer was also strengthened.
    Finally, we carried out three external growth operations. They accelerate our development and create value for our clients and shareholders.
    This commercial performance translated into record results, both for the year and in the fourth quarter. Our cost/income ratio, at the best level in the industry, is already in line with our 2025 target. This strong financial performance allows us to propose an increased dividend, offering an attractive return for our shareholders.
    2024 marks an acceleration of the diversification that was initiated with the plan Ambitions 2025, several objectives of which have already been achieved, one year ahead of schedule.
    Close to our clients and attentive to their needs, we are very well positioned on the mega-trends of the savings industry. This makes us confident about our future growth. »

    * * * * *

    Accelerating diversification on industry mega-trends

    In 2024, the strategic priorities of the plan Ambitions 2025 contributed significantly to the growth of activity and results. They ideally position Amundi on the key growth drivers of the savings industry.

    • Third-Party Distribution delivered strong growth in its assets under management, +27% year-on-year to €401bn at the end of December and at the objective of the plan Ambitions 2025, one year ahead of schedule; Third-Party Distribution now represents 57% of Retail segment’s assets under management; 2024 net inflows of +€32bn were at an all-time high, highly diversified across all regions and asset classes: +€5bn in active management, +€18bn in ETFs and +€9bn in treasury products; Q4 was the strongest quarter for inflows in history, at +€13bn, with the same dominance as for the year; 12 new partnerships with digital players were signed in 2024 (BourseDirect, Scalable, Moneyfarm, etc.), bringing to 45 the number of partnerships with this type of player, in Europe and Asia;
    • ETFs4 reached €268bn in assets under management at the end of December, up +30% year-on-year, driven by record net inflows of +€27.8bn for the year, including +€10.5bn in Q4, diversified by client segments and between equity and fixed income products; these inflows were driven by the success of the US and global equity ranges, in particular the S&P500 ETF, innovative products such as the Amundi MSCI US Mega Cap and ex Mega Cap, as well as the Amundi Prime All Country World UCIT ETF, which has gathered more than +€2bn in 9 months;
    • Asia saw its assets under management increase by +17% year-on-year, to €469bn, thanks to +€28bn in inflows in 2024, positive in the 9 countries where Amundi operates; the Indian JV SBI MF continued to grow (€292bn in assets under management, +23% year-on-year with +€20.6bn in net inflows), as well as direct distribution excluding JVs (€103bn in assets under management, +16% year-on-year, with 2024 net inflows of +€5bn); 2024 was marked by the success of the partnership with Standard Chartered and the launch of a range of “CIO Signature Funds”, with assets under management reaching $2bn managed on behalf of the bank’s clients in 11 countries, in Asia, the Middle East and Africa; finally, the contribution to net income from Asian JVs, at €123m, increased by +20.9%, particularly the Indian JV (+31.5%, at €104m);
    • Fixed income expertise now manages €1,190bn in assets under management5 via a very wide range of solutions, which we have adapted in the face of the variations in long-term rates over the year; these solutions gathered +€57.5bn5 in 2024, of which +€11.7bn5 in Q4, thanks to a wider range of strategies: Amundi remains, as in 2023, the leader in Europe for maturity funds and fixed income ETFs, and the success of the inflows extended in 2024 to short-term fixed income solutions, securitisation, euro credit or stable duration strategies;
    • technology revenues recorded a strong increase by +33.8% compared to 2023, to €80m, and +47.1% Q4/Q4; Amundi Technology completed in Q4 the acquisition of the European leader in Wealth Tech, aixigo, complementing the ALTO6 Wealth and Distribution platform with a modular offering recognised in the industry.

    Objectives of the plan Ambitions 2025 achieved one year ahead of schedule

    Major objectives were achieved by 2024 and Amundi’s financial results are higher than planned in the trajectory of the Plan Ambitions 2025:

    • assets under management targets have been or are close to being reached at the end of 2024, a year ahead of schedule, for third-party distributors (€401bn vs. the €400bn target), passive management (€418bn vs. €420bn) and even Asia (€469bn, at 6% of the €500bn target);
    • 2024 cost income ratio2 at 52,5%, is already on target for 2025 (less than 53%);
    • 2024 net income2, at €1,382m, shows an average annual growth rate (CAGR) of +6.1% compared to the reference 2021 net income7 of the Plan, above the target of +5%; even restated for the slight positive market effect between 2021 and 2024, it is above the target, at +5.5%;
    • for 2024, the proposed dividend of €4.25 per share corresponds to a payout ratio8of 67%, above the minimum target of the Medium-Term Plan (65%), as in 2022 and 2023;
    • the average dividend payout ratio over 2022-24, at 72%, corresponds to a distribution surplus of +€0.24bn over the period, to which are added three external transactions that also consumed the capital generated over the period to the tune of +€0.5bn; the surplus capital remaining available for acquisitions at the end of 2024 is above €1bn;
    • Amundi has achieved three external growth operations: the acquisition of the private assets multi-management specialist Alpha Associates, closed in April 2024, the partnership with the US asset manager Victory Capital, signed in July and expected to be completed towards the end of the first quarter of 2025, and finally the acquisition of the Wealth Tech aixigo, closed in November 2024; these three operations are in line with the strategic and financial objectives of the plan Ambitions 2025; they will generate by 2027E9 a combined accretion of earnings per share2 of about +5% and a return on investment of around 12%;
    • finally, the extra-financial and climate commitments of the plan ESG Ambitions 2025 have been achieved or are on their way to being achieved:
      • the share of ETFs (in number) meeting the ESG criteria10 of the SFDR regulation reached 37% at the end of 2024, compared to a target of 40% at the end of 2025;
      • the number of companies with which we have engaged in shareholder dialogue on their climate transition plans has increased by +1,478 since 2021, compared to a target of +1,000 over 2021-25;
      • Greenhouse gas emissions per employee fell by -62% compared to 2018 on scopes 1, 2, and 3, against a target of a -30% reduction.

    Activity

    A favourable market environment in the quarter as well as over the year

    In the fourth quarter of 2024, the average level of equity markets11 increased by +2.8% compared to the previous quarter and by +19.5% compared to the same quarter of 2023. European bond markets12were also up, by +1.6% compared to the previous quarter and by +6.7% compared to the same quarter of 2023, reflecting the ECB’s rate cut decisions and the tightening of credit spreads. The market effect is therefore positive on the evolution of Amundi’s revenues over these two periods.

    Compared to the 2021 averages reference for the Plan Ambitions 2025, the market effect is only very slightly positive.

    The asset management market in Europe continued its recovery in the fourth quarter. Net inflows in open-ended funds13, at +€232bn, were driven by passive management (+€111bn) and by treasury products (+€74bn). For the third consecutive quarter, medium- to long-term active management recorded positive flows (+€46bn) driven by fixed income strategies (+€61bn).

    Inflows at the highest level since 2021, more than double the 2023 net inflows, and new record for assets

    Net inflows in the quarter amounted to +€20.5bn. For the year, net inflows reached +€55.4bn, twice the level of 2023.

    Amundi’s assets under management3as of 31 December 2024 grew by +2.2% over the quarter and +10.0% over the year to reach a new record of €2,240bn. They benefited from market appreciation and from a high level of inflows, the highest since 2021. The market and currency effect amounted to +€28.1bn in the fourth quarter of 2024, and +€140.1bn in 2024. The increase in assets under management also benefited from the integration of Alpha Associates since the second quarter of 2024 (+€7.9bn in April).

    Net inflows for the year amount to +€55.4bn, of which +€34bn in MLT assets14,15. The last quarter is particularly dynamic, +€17.9bn, thus representing more than half of the MLT inflows14 of the year.

    These MLT14 inflows continued this quarter to be driven by ETFs (+€10.5bn) and active management (+€5.5bn), notably through the active fixed income strategies (+€9.1bn). Also of note was a good performance in structured products, at +€0.9bn.

    The rest of net inflows for the quarter came from treasury products (+€0.7bn) and JVs (+€1.9bn)

    All client segments contributed to the positive net inflows:

    • the Retail segment, at +€11.5bn, recorded its highest level of inflows since 2021, thanks to Third-Party Distributors (+€12.7bn); Partner networks in France experienced net positive flows (+€0.8bn), compared to net outflows from International networks (-€1.4bn) and at Amundi BOC WM;
    • The Institutional segment, at +€7.1bn, of which +€10.8bn in MLT assets14, benefited from a strong contribution from Institutionals and Sovereigns (+€7.4bn) as well as CA & SG Insurers (+3,7€bn) in MLT assets14, and from Corporates (+€9.1bn) in treasury products;
    • JVs (+€1.9bn) continued to benefit from dynamic inflows from SBI MF in India (+€2.3bn).

    It should be noted regarding SBI MF that the request for proposal, for the redeployment of the mandate of the Indian pension fund EPFO16 has been launched. A significant outflow is therefore likely to be expected in the second or third quarter of 2025, with a completely negligible effect on the revenues of the JV.

    Fourth quarter and full-year 2024 results

    Q4 2024: strong growth in net income2, +20% Q4/Q4, highest quarter ever

    Adjusted data2

    In the fourth quarter of 2024, adjusted net income2reached €377m, up +20.5% compared to the fourth quarter of 2023.

    It includes Alpha Associates, whose acquisition was finalised in early April, as well as aixigo for two months in the fourth quarter of 2024.

    The growth in net income is mainly due to revenue growth and the very strong momentum of Asian JVs.

    Adjusted net revenues2 reached €924m, up +14.6% compared to the fourth quarter of 2023, mainly driven by management and technology revenues:

    • the sustained growth in net management fees, of +13.5% compared to the fourth quarter of 2023, to €820m, reflects the good level of activity and the increase in average assets under management excluding JVs (+10.5% over the same period);
    • performance fees (€57m) increased by +67.6% compared to the fourth quarter of 2023 (€34m), benefiting from the good performance of Amundi’s management teams, with more than 69% of assets under management ranked in the first or second quartiles according to Morningstar17 over 1, 3 or 5 years, and 247 Amundi funds rated 4 or 5 stars by Morningstar as of 31 December; fixed income strategies accounted for half of total performance fees, coming from very much diversified strategies;
    • Amundi Technology’s revenues, at €26m, continued to grow strongly (+47.1% compared to the fourth quarter of 2023), amplified this quarter by the first consolidation of aixigo for two months in the fourth quarter (+€5m);
    • finally, financial and other income2 amounted to €21m, down from the fourth quarter of 2023 due to the impact of lower short-term rates in the euro area.

    The increase in Operating expenses2, by +13.1% compared to the fourth quarter of 2023, to €482m, remains lower than the increase in revenues (+14.6%) thus generating a positive jaws effect which reflects the Group’s operational efficiency.

    This increase is explained by:

    • the first consolidation of Alpha Associates and aixigo;
    • investments in development initiatives of the plan Ambitions 2025, including technology, third-party distribution, Asia;
    • provisioning for individual variable remuneration, in line with the growth in results
    • non-recurring items, including the charge related to the discount proposed in the context of the capital increases of the Amundi and Crédit Agricole S.A. groups, which was reserved for Amundi’s employees;

    Excluding these elements, the increase is in line with inflation (2.5%).

    The Cost income ratio at 52,1% in adjusted data2, improved from the same quarter last year.

    The Adjusted gross operating income2(GOI) amounted to €443m, up +16,4% compared to the fourth quarter of 2023, reflecting revenue growth.

    Income from equity-accounted companies18, at €29m, was up +1.6% compared to the fourth quarter of 2023. Growth was slowed by the impact of the decline in Indian equity markets on the financial income of our JV, SBI MF, which though continues to benefit from the strong growth of its business along the year.

    Adjusted earnings per share2in the fourth quarter of 2024 reached €1.84, up +20,2%.

    Accounting data in the fourth quarter of 2024

    Accounting Net income Group share amounted to €349m, including non-cash expenses related to the acquisitions of Alpha Associates and aixigo, and the amortisation of intangible assets related to distribution contracts and client contracts, for a total of -€17m after tax. Integration costs related to aixigo and the partnership with Victory Capital, whose closing is expected towards the end of the first quarter 2025, were also recorded in the fourth quarter of 2024, for a total of -€10m after tax. In addition, depreciation and amortisation on adjustments to the value of intangible assets after the integration of aixigo were also recorded in operating expenses for -€1m after tax (see p. 12 for a detail of all these items).

    Accounting earnings per share for the fourth quarter of 2024 reached €1.70.

    2024: record net income

    For the year 2024, the adjusted net income2 amounts to €1,382m, up +13.0%.

    This strong growth reflects the high level of activity:

    • Adjusted net revenues2 have increased by +9,2% compared to 2023, to €3,497m, mainly driven by management revenues; net management fees increased by +8.3%, in line with the growth in average assets under management; the increase in performance fees (+17.3%) is explained by a very good performance of the management teams, particularly for active bond strategies; Amundi Technology’s revenues also grew strongly, by +33.8% to €80m with the ramp-up of revenues gained from the acquisition of 8 clients in 2024, and reinforced with the acquisition of aixigo for two months in 2024 (+€5m);
    • Net management fee margins were stable compared to 2023 at 17.7 basis points, as the positive effects of market appreciation and the client mix offset the unfavourable effect of the product mix;
    • Adjusted operating expenses2 grew less than revenues, by +7.7% to €1,837m, generating a positive jaws effect; almost half of this increase was due to the consolidation of Alpha Associates and aixigo, investments in growth areas (technology, ETFs, third-party distribution, Asia, etc.) and higher provisions for variable compensation, in line with the increase in revenues;
    • the Adjusted cost income ratio2 reached 52.5%, compared to 53.2% in 2023, at the best level and at the 2025 target.

    The Adjusted gross operating income2 (GOI) amounted to €1,660m, up +10,8% compared to 2023.

    Income from equity-accounted companies18 accentuates this growth. At €123m, +20.9% compared to the full year of 2023, it grew faster than operating profit, mainly driven by India, whose contribution exceeded €100m (€104m) for the first time.

    Adjusted earnings per share2 reached €6.75 in 2024.

    Accounting data for the year 2024

    Accounting Net income Group share amounted to €1,305m, including non-cash expenses related to the acquisitions of Alpha Associates and aixigo and the amortisation of intangible assets related to distribution contracts and client contracts, for a total of -€67m after tax. Integration costs related to aixigo and the partnership with Victory Capital, whose closing is expected towards the end of the first quarter 2025, were also recorded in 2024, for a total of -€10m after tax. In addition, depreciation and amortisation on adjustments to the value of intangible assets after the integration of aixigo were also recorded in operating expenses for -€1m after tax (see p. 12 for a detail of all these items).

    Accounting earnings per share for the year 2024 reached €6.37.

    A solid financial structure and a dividend of €4.25 per share

    Tangible net assets19 amounted to €4.5bn at 31 December 2024, up +€0.2bn or +4.5% compared to the end of 2023. This increase is in particular the result of the accounting net income for the year 2024 (+€1.4bn20) the payment of dividends (-€0.8bn) for the 2023 financial year and the recognition of goodwill and intangible assets in respect of the two acquisitions finalised in 2024, Alpha Associates and aixigo (-€0.5bn).

    On 5 September 2024, the FitchRatings rating agency confirmed Amundi’s long-term rating at A+ with a stable outlook, the best in the sector.

    The Board of Directors will propose to the Annual General Meeting on 27 May 2025, a dividend of €4.25 per share, in cash, an increase compared to the dividend paid for the 2023 financial year.

    This dividend corresponds to a payout ratio of 67% of net income Group share, and a yield of more than 6% based on the share price as of 31 January 2025 (closing price of €68).

    The ex-dividend date will be Tuesday 10 June 2025 and will be paid as of Thursday 12 June 2025.

    Since the listing in November 2015, the TSR21 (total shareholder return) has been +126%, i.e. +9.2% per year on average.

    * * * * *

    ANNEXES

    Adjusted income statement22024 and 2023

    (€m)   2024 2023 % var.
    2024/2023
             
    Net revenuee – adjusted   3,497 3,204 +9.2%
    Management fees   3,184 2,940 +8.3%
    Performance fees   145 123 +17.3%
    Technology   80 60 +33.8%
    Financial income and other net income   88 80 +9.7%
    Operating expenses – adjusted   (1,837) ( 1,706) +7.7%
    Cost income ratio – adjusted (%)   52.5% 53.2% -0.7pp
    Gross operating income – adjusted   1,660 1,498 +10.8%
    Cost of risk & others   (10) (8) +28.7%
    Equity-accounted companies   123 102 +20.9%
    Income before tax – adjusted   1,774 1,592 +11.4%
    Corporate taxes   (394) (374) +5.5%
    Non-controlling interests   3 5 -43.5%
    Net income, Group share – adjusted   1,382 1,224 +13.0%
    Amortisation of intangible assets, after tax   (67) (59) +13.2%
    Amortisation related to aixigo PPA, after tax   (1) – –
    Integration costs, after tax   (10) – NS
    Net income Group share   1,305 1,165 +12.0%
    Earnings per share (€)   6.37 5.70 +11.7%
    Earnings per share – adjusted(€)   6.75 5.99 +12.6%

    Adjusted income statement2of the fourth quarter of 2024

    (€m)   Q4 2024 Q4 2023 % var.
    Q4/Q4    		   Q3 2024 % var.
    Q4/Q3
                   
    Net revenue – adjusted   924 806 +14.6%   862 +7.3%
    Management fees   820 723 +13.5%   805 +1.9%
    Performance fees   57 34 +67.6%   20 NS
    Technology   26 18 +47.1%   20 +32.6%
    Financial income and other net income   21 32 -33.4%   17 +22.7%
    Operating expenses – adjusted   (482) (426) +13.1%   (456) +5.6%
    Cost income ratio – adjusted (%)   52.1% 52,8% -0.7pp   52.9% -0.8pp
    Gross operating income – adjusted   443 381 +16.4%   406 +9.1%
    Cost of risk & others   (3) (2) +40.0%   (2) +62.8%
    Equity-accounted companies   29 29 +1.6%   33 -10.4%
    Income before tax – adjusted   469 407 +15.2%   437 +7.4%
    Corporate taxes   (93) (96) -3.9%   (101) -7.8%
    Non-controlling interests   1 2 -64.6%   1 -4.4%
    Net income Group share – adjusted   377 313 +20.5%   337 +11.9%
    Amortization of intangible assets after tax   (17) (15) +17.9%   (17) -0.3%
    Amortisation related to aixigo PPA after tax   (1) – –   – –
    Integration costs after tax   (10) 0 NS   0 NS
    Net income, Group share   349 299 +17.0%   320 +9.3%
    Earnings per share (€)   1.70 1.46 +16.7%   1.56 +9.0%
    Earnings per share – adjusted (€)   1.84 1.53 +20.2%   1.65 +11.7%

    Evolution of assets under management from the end of 2021 to the end of December 202422

    (€bn) Assets

    under management

    		 Net
    Inflows    		 Market &
    forex effect    		 Scope
    effect    		   Change in AuM
    vs. previous quarter
    As of 31/12/2021 2,064         +14%23
    Q1 2022   +3.2 -46.4   –  
    As of 31/03/2022 2,021         -2.1%
    Q2 2022   +1.8 -97.75   –  
    As of 30/06/2022 1,925         -4.8%
    Q3 2022   -12.9 -16.3   –  
    As of 30/09/2022 1,895         -1.6%
    Q4 2022   +15.0 -6.2   –  
    As of 31/12/2022 1,904         +0.5%
    Q1 2023   -11.1 +40.9   –  
    As of 31/03/2023 1,934         +1.6%
    Q2 2023   +3.7 +23.8   –  
    As of 31/06/2023 1,961         +1.4%
    Q3 2023   +13.7 -1.7   –  
    As of 30/09/2023 1,973         +0.6%
    Q4 2023   +19.5 +63.8   -20  
    As of 31/12/2023 2,037         +3.2%
    Q1 2024   +16.6 +63.0   –  
    As of 31/03/2024 2,116         +3.9%
    Q2 2024   +15.5 +16.6   +8  
    30/06/2024 2,156         +1.9%
    Q3 2024   +2.9 +32.5   –  
    30/09/2024 2,192         +1.6%
    Q4 2024   +20.5 +28.1   –  
    31/12/2024 2,240         +2.2%

    Total year-on-year from December 31, 2023 to December 31, 2024: +10.0%

    • Net inflows                     +€55.4bn
    • Market & foreign exchange rate effects        +€140.1bn
    • Scope effects                +€7.9bn
      (First consolidation of Alpha Associates in Q2 2024, the acquisition of aixigo has no effect on assets under management)

    Details of assets under management and net inflows by client segments24

    (€bn) AuM
    31.12.2024    		 AuM
    31.12.2023    		 % change /31.12.2023 Inflows Q4 2024 Inflows Q4 2023 Inflows 2024 Inflows 2023
    French networks 138 132 +4.7% +0.8 +1.1 +1.1 +5.7
    International networks 167 162 +3.0% -2.1 -0.4 -6.5 -3.6
    Of which Amundi BOC WM 2 3 -32.7% -0.6 -0.4 -1.2 -3.7
    Third-Party Distributors 401 317 +26.6% +12.7 +0.5 +31.9 +4.6
    Retail 706 611 +15.6% +11.5 +1.1 +26.6 +6.8
    Institutional & Sovereigns (*) 521 486 +7.2% -0.7 -1.6 +0.7 +12.9
    Corporates 122 111 +9.9% +8.6 +10.1 +2.8 +2.7
    Employee savings plan 90 86 +3.8% +0.7 -0.7 +3.1 +1.9
    CA & SG Insurers 429 427 +0.6% -1.5 +4.3 -1.0 -5.4
    Institutional 1,162 1,110 +4.7% +7.1 +12.0 +5.6 +12.0
    JVs 372 316 +17.7% +1.9 +6.3 +23.3 +7.0
    Total 2,240 2,037 +10.0% +20.5 +19.5 +55.4 +25.8

    Details of assets under management and net inflows by asset classes24

    (€bn) AuM
    31.12.2024    		 AuM
    31.12.2023    		 % change /31.12.2023 Inflows Q4 2024 Inflows Q4 2023 Inflows 2024 Inflows 2023
    Equity 544 467 +16.6% +7.3 +0.1 +7.3 +2.2
    Multi-assets 274 279 -1.8% -0.9 -7.5 -23.2 -24.5
    Bonds 747 656 +13.9% +10.6 +7.4 +47.4 +17.6
    Real, alternative & structured assets 114 107 +6.2% +0.9 +1.9 +2.4 +4.3
    MLT ASSETS excl. JVs 1,680 1,510 +11.3% +17.9 +1.9 +34.0 -0.5
    Treasury products excl. JVs 188 211 -10.9% +0.7 +11.2 -1.8 +19.3
    TOTAL excluding JVs 1,868 1,721 +8.6% +18.5 +13.2 +32.2 +18.8
    JVs 372 316 +17.7% +1.9 +6.3 +23.3 +7.0
    TOTAL 2,240 2,037 +10.0% +20.5 +19.5 +55.4 +25.8
    Of which MLT assets 2,018 1,794 +12.5% +21.1 +6.9 +56.0 +6.2
    Of which treasury products 222 242 -8.6% -0.6 +12.6 -0.5 +19.7

    Details of assets under management and net inflows by management types and asset classes24

    (€bn) AuM
    31.12.2024    		 AuM
    31.12.2023    		 % change /31.12.2023 Inflows Q4 2024 Inflows Q4 2023 Inflows 2024 Inflows 2023
    Active management 1,148 1,062 +8.1% +5.5 -5.7 +7.6 -21.3
    Equity 206 195 +5.6% -2.5 -2.1 -7.9 -4.6
    Multi-assets 263 270 -2.7% -1.2 -7.8 -24.5 -26.0
    Bonds 679 597 +13.8% +9.1 +4.2 +40.1 +9.3
    Structured products 44 39 +10.9% +0.9 +2.8 +3.6 +5.6
    Passive management 418 340 +22.9% +11.5 +5.8 +23.9 +16.6
    ETFs & ETC 268 207 +29.5% +10.5 +5.0 +27.8 +13.0
    Index & Smart beta 150 133 +12.7% +1.0 +0.7 -3.9 +3.6
    Real and Alternative Assets 70 68 +3.5% -0.0 -0.9 -1.2 -1.3
    Real assets 66 63 +5.4% +0.1 -0.2 +0.0 -0.0
    Alternative assets 4 5 -20.1% -0.1 -0.7 -1.2 -1.3
    TOTAL MLT assets excl. JVs 1,680 1,510 +11.3% +17.9 +1.9 +34.0 -0.5
    Treasury products excl. JVs 188 211 -10.9% +0.7 +11.2 -1.8 +19.3
    TOTAL excl. JVs 1,868 1,721 +8.6% +18.5 +13.2 +32.2 +18.8
    JVs 372 316 +17.7% +1.9 +6.3 +23.3 +7.0
    TOTAL 2,240 2,037 +10.0% +20.5 +19.5 +55.4 +25.8

    Details of assets under management and net inflows by geographic areas24

    (€bn) AuM
    31.12.2024    		 AuM
    31.12.2023    		 % change /31.12.2023 Inflows Q4 2024 Inflows Q4 2023 Inflows 2024 Inflows 2023
    France 994 950 +4.6% +5.9 +11.6 +18.7 +10.4
    Italy 202 203 -0.3% -0.8 -2.1 -14.5 -4.3
    Europe excl. France & Italy 440 372 +18.4% +11.1 +2.9 +17.1 +8.9
    Asia 469 400 +17.3% -1.5 +7.5 +28.1 +7.2
    Rest of the world 135 113 +20.0% +5.7 -0.5 +6.1 +3.5
    TOTAL 2,240 2,037 +10.0% +20.5 +19.5 +55.4 +25.8
    TOTAL outside France 1,246 1,087 +14.7% +14.6 +7.9 +36.8 +15.4

    Methodology appendix

    Accounting & adjusted data

    Accounting data – They include the amortisation of intangible assets, recorded as other income; since Q2 2024, other non-cash expenses spread according to the schedule of payments of the earn-out until the end of 2029; these expenses are booked as deductions from revenues, in financial costs, and since Q4, the amortisation charge of the technology asset related to the acquisition of aixigo, booked as amortisation of intangible assets in operating expenses.

    Integration costs related to the transaction with Victory Capital and amortisation of the aixigo related PPA were recorded in the fourth quarter, in operating expenses, for a combined amount of -€14m pre-tax and -€11m after-tax. No costs of that nature were recorded in the first nine months of 2024 or in the 2023 financial year.

    The aggregate amounts of these items are as follows for the different periods under review:

    • Q4 2023: -€20m before tax and -€15m after tax
    • 2023: -€82m before tax and -€59m after tax
    • Q3 2024: -€24m pre-tax and -€17m after tax
    • Q4 2024: -€38m before tax and -€28m after tax
    • 2024: -€106m before tax and -€77m after tax

    Adjusted data – In order to present an income statement that is closer to economic reality, the following adjustments are made: restatement of the amortisation of distribution contracts with Bawag, UniCredit and Banco Sabadell, intangible assets representing client contracts of Lyxor and, since the second quarter of 2024, Alpha Associates, as well as other non-cash charges related to the acquisition of Alpha Associates; such depreciation and amortisation and non-cash expenses. are recorded as a deduction from net revenues; ; restatement of the amortisation of a technological asset related ot the acquisition of aixigo, recorded in operating expenses.

    Acquisition of Alpha Associates

    In accordance with IFRS 3, recognition of Amundi’s balance sheet as at 01/04/2024:

    • goodwill of €288m;
    • an intangible asset of €50m, representing client contracts, depreciable on a straight-line basis until the end of 2030;
    • a liability representing the conditional earn-out not yet paid, for €160m, including an actuarial discount of -€30m, which will be amortised over 6 years.

    In the Group’s income statement, the following is recorded:

    • amortisation of intangible assets for a full-year expense of -€7.6m (-€6.1m after tax); in 2024 (9 months of integration) this corresponds to -€5.7m (-€4.6m after tax)
    • other non-cash expenses spread according to the schedule of payments of the earn-out until the end of 2029; these expenses are recorded as deductions from net income, as financial expenses; in 2024 (9 months) they represent -€4.3m (-€3.2m after tax).

    Over twelve months 2024, these expenses and depreciation and amortisation are therefore -€10m before tax for 9 months. They only started in Q2.

    In Q4 2024, the amortisation of intangible assets was -€1.9m before tax (-€1.5m after tax) and non-cash expenses were -€1.4m before tax (i.e. -€1.1m after tax).

    Acquisition of aixigo

    In accordance with IFRS 3, recognition on Amundi’s balance sheet at the date of acquisition:

    • goodwill of €121m;
    • a technology asset of €36m, representative of the goodwill attributed to aixigo’s software solutions, depreciable on a straight-line basis over 5 years;

    The full-year amortisation charge of the technology asset was -€7.2m (-€4.8m after tax); in Q4 2024, the amortisation charge was -€1.2m (-€0.8m after tax), it is recognised in operating expenses.

    Alternative Performance Measures25

    In order to present an income statement that is closer to economic reality, Amundi publishes adjusted data that excludes the depreciation of intangible assets and,

    • since the second quarter of 2024, from Alpha Associates, as well as other non-cash charges related to the acquisition of Alpha Associates.
    • Since the fourth quarter of 2024, the amortisation of intangible assets as operating expenses under aixigo.
    • In the fourth quarter of 2024, the integration costs on Victory Capital and aixigo.

    Adjusted, normalised data are reconciled with accounting data as follows :

    = accounting data
    = adjusted data
    (€M)   2024 2023   Q4 2024 Q4 2023   Q3 2024
                     
    Net management revenue   3,329 3,063   877 757   825
    Technology   80 60   26 18   20
    Net financial income and other net income   (3) (1)   (2) 12   (6)
    Adjusted net financial income and other income   88 80   21 32   17
                     
    Net revenue (a)   3,406 3,122   901 786   838
    – Depreciation of intangible assets before tax   (87) (82)   (22) (20)   (22)
    – Other non-cash expenses related to Alpha Associates   (4) 0   (1) 0   (1)
    Net revenue – adjusted (b)   3,497 3,204   924 806   862
                     
    Operating expenses (c)   (1,852) (1,706)   (496) (426)   (456)
    – Integration costs before tax   (13) 0   (13) 0   0
    – Amortisation of the aixigo related PPA before tax   (1) 0   (1) 0   0
    Operating expenses – adjusted (d)   (1,837) (1,706)   (482) (426)   (456)
                     
    Gross Operating Income (e)=(a)+(c)   1,554 1,416   405 360   382
    Gross operating income – adjusted (f)=(b)+(d)   1,660 1,498   443 381   406
    Cost income ratio (%) -(c)/(a)   54.4% 54.6%   55.1% 54.2%   54.4%
    Cost income ratio – adjusted (%) -(d)/(b)   52.5% 53.2%   52.1% 52.8%   52.9%
    Cost of risk & other (g)   (10) (8)   (3) (2)   (2)
    Equity-accounted companies (h)   123 102   29 29   33
    Income before tax (i)=(e)+(g)+(h)   1,668 1,511   431 387   413
    Income before tax – adjusted (j)=(f)+(g)+(h)   1,774 1,592   469 407   437
    Income tax (k)   (366) (351)   (83) (91)   (94)
    Income tax – adjusted (l)   (394) (374)   (93) (96)   (101)
    Non controlling interests (m)   3 5   1 2   1
    Net income, Group share (n)=(i)+(k)+(m)   1,305 1,165   349 299   320
    Net income, Group share – adjusted (o)=(j)+(l)+(m)   1,382 1,224   377 313   337
                     
    Earnings per share (€)   6.37 5.70   1.70 1.46   1.56
    Adjusted earnings per share (€)   6.75 5.99   1.84 1.53   1.65

    Shareholding

        31 December 2024   30 September 2024   31 December 2023
    (units)   Number
    of shares    		 % of share capital   Number
    of shares    		 % of share capital   Number
    of shares    		 % of share capital
    Crédit Agricole Group   141,057,399 68.67%   141,057,399 68.93%   141,057,399 68.93%
    Employees   4,272,132 2.08%   2,751,891 1.34%   2,918,391 1.43%
    Treasury shares   1,992,485 0.97%   958,031 0.47%   1,247,998 0.61%
    Free Float   58,097,246 28.28%   59,880,313 29.26%   59,423,846 29.04%
                       
    Number of shares at the end of the period   205,419,262 100.0%   204,647,634 100.0%   204,647,634 100.0%
    Average number of shares year-to-date   204,776,239 –   204,647,634 –   204,201,023 –
    Average number of shares quarter-to-date   205,159,257 –   204,647,634 –   204,647,634 –

    Average number of shares on a pro rata basis.

    • The average number of shares increased by +0.3% between Q3 2024 and Q4 2024, +0.3% between Q4 2023 and Q4 2024, and again +0.3% between 2023 and 2024.
    • A capital increase reserved for employees was recorded on 31 October 2024. 771,628 shares were created (approximately 0.4% of the share capital before the transaction).
    • Amundi announced on 7 October 2024 a buyback program of up to 1m shares (i.e. ~0.5% of the share capital before the transaction) to cover performance share plans, It was finalised on 27 November 2024.                                                                                                        

    Financial communication calendar

    • Q1 2025 earnings release: Tuesday 29 April 2025
    • Annual General Meeting: Tuesday 27 May 2025
    • Q2 and H1 2025 earnings release: Tuesday 29 July 2025
    • Q3 and 9-month 2025 results: Tuesday 28 October 2025

    Dividend schedule

    • Ex-dividend day: Monday 10 June 2025
    • Payment: from Wednesday 12 June 2025

    About Amundi

    As Europe’s leading asset manager among the world’s top 10 players26, Amundi offers its 100m clients – individuals, institutions and corporates – a full range of savings and investment solutions in active and passive management, in traditional and real assets. This offer is enriched with services and technological tools that cover the entire savings value chain. A subsidiary of the Crédit Agricole group, Amundi is listed on the stock exchange and currently manages more than €2.2tn in assets under management27.

    Its six international management platforms28, its financial and extra-financial research capacity, as well as its long-standing commitment to responsible investment make it a leading player in the asset management landscape.

    Amundi’s clients benefit from the expertise and advice of 5,700 professionals in 35 countries.

    Amundi, a trusted partner that acts every day in the interest of its clients and society.

    www.amundi.com  

    Press contacts:        
    Natacha Andermahr 
    Tel. +33 1 76 37 86 05
    natacha.andermahr@amundi.com 

    Corentin Henry
    Tel. +33 1 76 36 26 96
    corentin.henry@amundi.com

    Investor contacts:
    Cyril Meilland, CFA
    Tel. +33 1 76 32 62 67
    cyril.meilland@amundi.com 

    Thomas Lapeyre
    Tel. +33 1 76 33 70 54
    thomas.lapeyre@amundi.com 

    Annabelle Wiriath

    Tel. + 33 1 76 32 43 92

    annabelle.wiriath@amundi.com

    DISCLAIMER

    This document does not constitute an offer or invitation to sell or purchase, or any solicitation of any offer to purchase or subscribe for, any securities of Amundi in the United States of America or in France. Securities may not be offered, subscribed or sold in the United States of America absent registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements thereof. The securities of Amundi have not been and will not be registered under the U.S. Securities Act and Amundi does not intend to make a public offer of its securities in the United States of America or in France.

    This document may contain forward looking statements concerning Amundi’s financial position and results. The data provided do not constitute a profit “forecast” or “estimate” as defined in Commission Delegated Regulation (EU) 2019/980.

    These forward-looking statements include projections and financial estimates based on scenarios that employ a number of economic assumptions in a given competitive and regulatory context, assumptions regarding plans, objectives and expectations in connection with future events, transactions, products and services, and assumptions in terms of future performance and synergies. By their very nature, they are therefore subject to known and unknown risks and uncertainties, which could lead to their non-fulfilment. Consequently, no assurance can be given that these forward-looking statement will come to fruition, and Amundi’s actual financial position and results may differ materially from those projected or implied in these forward looking statements. In particular, conditions to completion of the announced transaction between Amundi and Victory Capital, may not be satisfied and such transaction may not be completed on schedule, or at all; risks relating to the expected benefits or impact of the transaction on Victory Capital’s and Amundi’s respective businesses are contained in their respective public filings.

    Amundi undertakes no obligation to publicly revise or update any forward-looking statements provided as at the date of this document. Risks that may affect Amundi’s financial position and results are further detailed in the “Risk Factors” section of our Universal Registration Document filed with the French Autorité des Marchés Financiers. The reader should take all these uncertainties and risks into consideration before forming their own opinion.

    The figures set out in this document were approved by Amundi’s Board of Directors and have been prepared in accordance with applicable prudential regulations and IFRS guidelines, as adopted by the European Union and applicable at that date, but remain subject to ongoing review by the statutory auditors.

    Unless otherwise specified, sources for rankings and market positions are internal. The information contained in this document, to the extent that it relates to parties other than Amundi or comes from external sources, has not been verified by a supervisory authority or, more generally, subject to independent verification, and no representation or warranty has been expressed as to, nor should any reliance be placed on, the fairness, accuracy, correctness or completeness of the information or opinions contained herein. Neither Amundi nor its representatives can be held liable for any decision made, negligence or loss that may result from the use of this document or its contents, or anything related to them, or any document or information to which this document may refer.

    The sum of values set out in the tables and analyses may differ slightly from the total reported due to rounding.

    1        Net income Group share
    2        Adjusted data: see p. 12
    3        Assets under management (AuM) and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
    4        Excluding JVs
    5        Including JV: €247bn in assets under management, +€12.2bn inflows in 2024 and +€0.6bn in Q4
    6        ALTO: Amundi Leading Technologies & Operations, Amundi’s suite of 5 technology applications, including ALTO Investment, Wealth and Distribution, Sustainability, Asset Servicing and Employee Savings and Retirement
    7        Adjusted net income Group share, normalised for the exceptionally high level of performance fees in the year: €1,158m
    8        Calculated on accounting net income Group share
    9        Compared to consensus estimates prior to these transactions
    10        According to SFDR Articles 8 and 9
    11        50% MSCI World + 50% Eurostoxx 600 composite index for equity markets, average values over each period considered
    12        Bloomberg Euro Aggregate for bond markets, average values over each reporting period
    13        Source: Morningstar FundFile, ETFGI. European & cross-border open-ended funds (excluding mandates and dedicated funds). Data at the end of December 2024.
    14        Medium-Long Term Assets excluding JV
    15        However, 2024 net inflows include, for -€11.6bn, the exit in the third quarter of a multi-asset mandate with a European insurer, which brought low revenues
    16        EPFO: Employees’ Provident Fund Organisation, India’s leading pension fund with total assets of €250bn at the end of December 2024. In Q4 2019, SBI MF had won a bond mandate granted by EPFO, for an amount of €60bn, which totaled €110bn in assets under management as of 31 December 2024; it is this mandate that would be shared with other managers according to the request for proposal
    17        Source: Morningstar Direct, Broadridge FundFile – Open-ended funds and ETFs, global fund scope, December 2024; as a percentage of the assets under management of the funds in question; the number of Amundi open-ended funds rated by Morningstar was 1071 at the end of December 2024. © 2024 Morningstar, all rights reserved
    18        Reflecting Amundi’s share of the net income of minority JVs in India (SBI MF), China (ABC-CA), South Korea (NH-Amundi) and Morocco (Wafa Gestion),
    19        Shareholders’ equity less goodwill and intangible assets
    20        Excluding the amortisation of intangible assets
    21        The TSR (Total Shareholder Return) includes the total return for a shareholder: increase in the share price + dividends paid from 2016 to 2024 + Preferential Subscription Rights detached in May 2017. Calculation made on the basis of the closing price of 31 January 2025, €68 per share.
    22        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
    23        Lyxor, integrated as of 31/12/2021
    24        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV;
    as of 01/01/2024, reclassification of short-term bond strategies (€30bn in AuM) as Bonds previously classified as Treasury until that date; the assets and net flows up to that date have not been reclassified in these tables
    25        See also the section 4.3 of the 2023 Universal Registration Document filed with the AMF on 18 April 2024
    26Source: IPE “Top 500 Asset Managers” published in June 2024 based on assets under management as of 31/12/2023
    27Amundi data as of 31/12/2024
    28Boston, Dublin, London, Milan, Paris and Tokyo

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Asian Development Blog: From Roads to Riches: Economic Corridors Can Supercharge South Asia

    Source: Asia Development Bank

    Economic corridor development in South Asia enhances trade, industrialization, and connectivity while addressing infrastructure gaps and business constraints. By creating jobs, promoting regional integration, and improving manufacturing competitiveness, corridors contribute to sustainable economic growth and poverty reduction.

    Economic corridors are drivers of economic growth and structural transformation and are integral to the pursuit of regional development and economic integration. They not only enhance connectivity and trade but also foster industrialization, job creation, and balanced regional growth. 

    In South Asia, particularly in Bangladesh, Bhutan, Nepal, India, and Sri Lanka the development of economic corridors presents a promising pathway to unlock economic potential, strengthen regional ties, and promote sustainable development. 

    Economic corridor development efforts aim to improve a country’s manufacturing potential by addressing key constraints such as cumbersome business processes, infrastructure bottlenecks, and low competitiveness of domestic manufacturing leading to low manufacturing jobs and less integration with global value chains.

    An economic corridor is a network of infrastructure projects designed to stimulate economic development across and between regions. These corridors typically include transportation routes, such as highways, railways, and ports, as well as industrial hubs and trade facilitation zones. The aim is to enhance connectivity, reduce trade barriers, and promote investment, ultimately spurring economic activities and job creation.

    India, with its vast and diverse economy, plays a crucial role in the development of economic corridors in Bangladesh, Bhutan, Nepal and Sri Lanka. The country’s strategic initiatives, such as the NICDP and the Prime Minister Gati Shakti (PM-GS) National Master Plan, aim to enhance connectivity and promote economic integration.

    In Bangladesh, the development of economic corridors is focused on enhancing infrastructure and trade logistics. Notable examples include the South West Economic Corridor, spanning from Khulna and Jessore to Dhaka, and the North East Economic Corridor, connecting Dhaka to Sylhet. These corridors are designed to improve the country’s trade infrastructure, diversify production networks, and integrate with regional and global value chains, all the while stimulating economic activities in less developed areas.

    Bhutan has planned to develop Gelephu Mindfulness City which will be the biggest economic hub of Bhutan attracting foreign investment and integrating with the rest of South Asia and Southeast Asia. Multimodal connectivity of Gelephu with India and Bangladesh will be a critical factor of its success in future. 

    Economic corridors drive regional integration, boost industrialization, and create jobs by enhancing infrastructure, reducing trade barriers, and fostering economic growth across South Asia.
     

    India’s efforts in industrial corridor development aim to boost the manufacturing sector by addressing key constraints like cumbersome business processes and infrastructure bottlenecks. 

    The National Industrial Corridor Development Program, in collaboration with the Asian Development Bank, focuses on creating a conducive environment for manufacturing, thereby enhancing sectoral growth. The Prime Minister Gati Shakti (PM-GS) National Master Plan further aims to enhance connectivity and promote economic integration across the country.

    Nepal, a landlocked country with challenging terrain, faces unique obstacles in its quest for economic development. The development of economic corridors, such as the East-West Highway and the North-South Corridors, is crucial for improving connectivity, reducing trade barriers, and fostering regional integration. These corridors aim to link Nepal more effectively with its neighbors, promoting economic activities and development in the region.

    Sri Lanka’s Colombo-Trincomalee Economic Corridor (CTEC) connects the Western Region including Colombo Port with the East Coast to Trincomalee Port, aims to facilitate economic growth through a network of export zones and free trade zones. This infrastructure is expected to boost trade, attract investments, and promote balanced regional growth.

    Economic corridor development involves a building block approach of construction and enhancement of transport networks, energy grids, and trade facilitation measures that connect key economic hubs within and across borders. 

    The transport and trade corridors are designed to streamline the movement of goods, services, and people, thereby reducing costs, increasing efficiency, and boosting competitiveness. The initiative also emphasizes the importance of aligning national policies and regulations to ensure seamless operations and to maximize the benefits of regional integration.

    Gradually these corridors will be transformed into economic corridors by addressing both hardware and software aspects of development. Effective corridor development also entails creating a conducive environment for businesses to thrive and for economies to grow.

    One of the key objectives of economic corridor development is job creation. This is a critical development objective for the countries in South Asia.  The creation of formal jobs through the expansion of the manufacturing sector directly contributes to poverty alleviation. 

    By facilitating the formalization of labor and incentivizing firms to adopt modern technology, corridor development helps to increase productivity and wages, thereby improving the standard of living for workers. Government actions to provide gender-inclusive housing, upgrade the skills of female workers, and appoint female board members in industrial node boards, further enhance economic corridors’ impact on poverty reduction and gender equality. 

    Economic corridors are pivotal in shaping South Asia’s economic future by enhancing trade, industrialization, and regional cooperation. Continued investment, policy alignment, and inclusive development strategies will be essential in maximizing their benefits and ensuring sustainable, equitable growth.
     

    MIL OSI Economics –

  • MIL-Evening Report: Yes, energy prices are hurting the food sector. But burning more fossil fuels is not the answer

    Source: The Conversation (Au and NZ) – By Vivienne Reiner, PhD Candidate, Integrated Sustainability Analysis group, University of Sydney

    Months out from a federal election, the industry lobby is gearing up in opposition to the Albanese government’s renewable energy targets. In a salvo on Monday, food distributors urged the government to increase fossil fuel production, as a way to purportedly tackle high energy prices.

    It was followed by comments on Tuesday by the Australian Chamber of Commerce and Industry, which also called for fast-tracking of gas expansion to avoid price spikes and blackouts.

    Unfortunately, however, these approaches miss the point. They are a short-sighted response to what is, in large part, a climate-induced problem.

    In fact, evidence suggests burning more coal and gas will only make things worse for many industries, including the food sector.

    More fossil fuels = more industry disruption

    The industry group Independent Food Distributors Australia claims Labor’s energy policies are driving up costs for businesses and, in turn, consumers.

    In comments published in The Australian, the group’s chief executive Richard Forbes said the phase-out of coal-fired energy was too fast and the government’s renewable energy target was too ambitious. The newspaper claimed business owners instead want Labor to support new gas plants and support upgrades to existing coal plants.

    The group represents food manufacturers, suppliers and distributors supporting the food service industry. Its members largely comprise food distribution warehouses operating large refrigerators and freezers.

    First, it’s important to ask whether a focus on renewable energy can be blamed for Australia’s high energy prices. The answer is largely no.

    That aside, would expanding fossil fuel production ultimately be a boon to food distributors? Evidence suggests it would not.

    A study published in 2022, led by my colleagues at the University of Sydney, found that almost one-fifth of total emissions from global food systems were produced by transport and supporting services, such as distribution warehouses. This was equivalent to about 6% of the world’s greenhouse gas emissions.

    Of course, greenhouse gas emissions are warming the climate and leading to worse and more frequent natural disasters. And, as another University of Sydney study showed, these disasters have extensive repercussions for the food industry.

    It found the disruptions would be hardest felt by the fruit, vegetable and livestock sectors, however effects flowed to other sectors such as transport services. Overall, people in rural areas and those from a low-socioeconomic background were most vulnerable, both to food and nutrition impacts, as well as losses in employment and income.

    What’s more, research I led into the economic impact of Australia’s 2019–20 bushfires also reveals the vulnerability of the food ecosystem. The 2024 study, which focused on tourism, found employment and income losses were greatest in the hospitality and transport sectors respectively. Restaurants, cafes and accommodation providers were disproportionately hit by job losses resulting from reduced consumption, including less food being consumed out of home.

    So what does all this mean? Clearly, expanding polluting energy generation to reduce food distribution costs in the short term will not, ultimately, secure the sector’s future.

    Making food distribution more sustainable

    Having said all this, Australia’s high energy prices are undoubtedly a stress point for many Australian businesses. So how can the food sector tackle the problem?

    Energy requirements (and therefore costs and emissions) differ according to the type of food. Fruits and vegetables, for example, are likely to require a temperature-controlled environment. This generates about double the emissions produced by growing the crops themselves.

    Growing and distributing crops that can be transported at ambient temperatures would reduce energy use. This is particularly important given refrigeration needs are likely to increase as the planet warms.

    In terms of broader food movements, 94% of domestic transport happens by road. So, there is a strong case for investing in electric trucks to help guard against energy price hikes.

    The weight of food freight has also been correlated with energy use. Cereals – along with fruit and vegetables, flour and sugar beet/cane – are among the food types transported at high tonnages.

    As my colleagues have noted, there are huge energy savings to be gained if the global population ate more locally produced food, and if food businesses used cleaner production and distribution methods, such as natural refrigerants.

    Energy requirements differ according to the type of food.
    BK Awangga/Shutterstock

    Looking ahead

    Global food systems are crucial to human wellbeing. It’s in everyone’s interests to keep them functioning well and protected from climate-fuelled hazards.

    The choices now facing the food-distribution sector represent one of many tradeoffs Australia must make during its transition to a low-carbon future.

    Will we continue the polluting, business-as-usual approach or will we embrace Australia’s natural advantages in renewable energy, and protect the planet that supports us?

    When it comes to food distribution, will Australia expand gas and coal production as a purported answer to lower energy costs in the short term – or will we move swiftly to decarbonise the sector and buy more local, sustainable food?

    Vivienne Reiner 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. Yes, energy prices are hurting the food sector. But burning more fossil fuels is not the answer – https://theconversation.com/yes-energy-prices-are-hurting-the-food-sector-but-burning-more-fossil-fuels-is-not-the-answer-248996

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: February 3rd, 2025 Heinrich Speaks Out Against President Trump’s Tax on New Mexico Families

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    Trump’s tariffs will increase prices, cost families as much as $1,200 per year

    WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.) released the following statement on President Trump’s announced 25% tariffs on Mexico and Canada and 10% tariffs on China:

    “Donald Trump’s tariffs are a tax on New Mexico’s working families. Trump’s tariffs will raise costs, kill jobs, and weaken our economy, costing New Mexicans up to $1,200 per household. With Mexico as New Mexico’s largest trading partner, Trump’s trade war and tariffs tax will directly hurt New Mexico’s farmers, businesses, and consumers.

    “We need to be putting the interests of working people first, not last. And that starts by lowering costs, not raising them.”

    While the effective dates of the tariffs are shifting, their catastrophic impacts are indisputable.

    Background on How New Mexico’s Economy Relies on Trade with Mexico

    New Mexico’s solid economic growth after pandemic-era disruptions was spurred in large part by cross-border commerce. An unnecessary trade war with Mexico drummed up by President Trump threatens to drive up prices for groceries, gas, cars, and other consumer goods, erasing wage increases and straining New Mexicans’ wallets. 

    Benefits to New Mexico from Trade with Mexico

    • In 2023, $28 billion worth of goods came through the Santa Teresa Port of Entry (STPOE), which Heinrich has pushed to expand by introducing legislation, securing federal appropriations, and urging leaders in Congress and the Executive Branch to prioritize this project.
    • The STPOE supported over 7,000 jobs and contributed $2 billion to New Mexico’s economy in 2023.
    • Since 2020, an additional 2,000 jobs in New Mexico have been added by the increased economic activity around STPOE.
    • New Mexico exported $3.4 billion to Mexico in 2023.
    • In 2021, exports supported 15,000 jobs in New Mexico.
    • Mexico is New Mexico’s largest trade partner, amounting to 70% of the state’s total goods exported in 2023.

    MIL OSI USA News –

  • MIL-Evening Report: Parliament condemns antisemitism, but can’t avoid the blame game

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Independent Allegra Spender spearheaded a condemnation of antisemitism by federal parliament – but the debate was mired in partisanship.

    The opposition tried to prevent the government bringing on the Spender motion in the House of Representatives, because it said it wanted something stronger and would not be able to amend the motion.  

    Coalition speakers repeatedly used the debate to attack the government for not, in its view, doing enough to combat antisemitism, particularly after the pro-Palestine demonstration at the Opera House in the wake of the Hamas atrocities of October 7 2023.

    Eventually the Spender motion was passed without dissent. It said the House:

    • deplores the appalling and unacceptable rise in antisemitism across Australia – including violent attacks on synagogues, schools, homes, and childcare centres

    • unequivocally condemns antisemitism in all its forms and

    • resolves that all parliamentarians will work constructively together to combat the scourge of antisemitism in Australia.

    Opposition Leader Peter Dutton said Spender had agreed to delete words in an earlier version that would have condemned “all similar hatred directed to any groups in our community”.

    “The member agreed to that form of words being struck out because we don’t think that was necessary. And we also think it is inexplicable to try and mount the argument that this sort of hatred and this sort of racism and this sort of antisemitism is being conveyed against any other pocket of the Australian community.”

    Dutton said the opposition had voted against the government bringing on the motion “because it stopped us from moving amendments […] which would have strengthened the motion and provided stronger support to the community.”

    Spender said combating antisemitism was not just a matter of laws but also of culture.

    “We must lead by example. The message from our parliament today must be unambiguous. We will not stand for hate. We will not stand for abuse.

    “We will not abide intimidation. We will not tolerate the terrorising of any part of our community. We are united against antisemitism. Words must be backed by action, but words matter, particularly those of the parliament.”

    Spender will seek to strengthen the anti-hate bill currently being considered by the parliament.

    The motion was seconded by Jewish Labor MP Josh Burns, who said: “the last six months have been like no other I’ve experienced in this country. And my grandparents came to this country looking for a safe haven for the Jewish people. And over the last six months, we’ve seen cars set alight. We’ve seen synagogues burnt down. We’ve seen Jewish homes and businesses marked. And we have seen childcare centres being burnt down.”

    Anthony Albanese said: “We know that antisemitism has given dark shadows across generations. I say to Jewish Australians, live proudly, stand tall, you belong here and Australia stands with you.”

    Former Minister for Indigenous Australians, Linda Burney, accused a previous Coalition speaker, Andrew Wallace, who criticised the government, of being “corrosive” on “an issue where we should be coming together”.

    In the Senate, crossbencher Jacqui Lambie moved the same motion as Spender. The opposition unsuccessfully tried to amend it to embrace mandatory sentencing. A member from independent Lidia Thorpe was also defeated and the motion was passed on the voices.

    The Conversation

    Michelle Grattan 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. Parliament condemns antisemitism, but can’t avoid the blame game – https://theconversation.com/parliament-condemns-antisemitism-but-cant-avoid-the-blame-game-249015

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: FHWA Greenhouse Gas Emissions Rule Defeated in Sixth Circuit

    US Senate News:

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

    ***Click here for audio.***

    WASHINGTON, D.C. – In November 2023, the Federal Highway Administration (FHWA) adopted a final rule requiring state departments of transportation and metropolitan planning organizations to measure greenhouse gas (GHG) emissions on the highway system and set declining targets. Congress has never granted the Department of Transportation this authority. 

    Shortly after the rule was finalized, attorneys general from 21 states, including North Dakota, filed litigation challenging the regulation. The U.S. District Court for the Western District of Kentucky found the rule illegal, but the Biden FHWA appealed the decision to the Sixth Circuit Court of Appeals. In October, U.S. Senator Kevin Cramer (R-ND), Chairman of the Senate Environment and Public Works (EPW) Transportation and Infrastructure Subcommittee; U.S. Senator Shelley Moore Capito (R-WV), Chairman of the Senate EPW Committee; U.S. Representatives Sam Graves (R-MO-6), Chairman of the House Transportation and Infrastructure Committee; and Rick Crawford (R-AR-1), former Chairman of the House Highways and Transit Subcommittee, led their colleagues in filing an amicus brief in opposition to the rule.

    Today, the Sixth Circuit Court of Appeals dismissed the case with prejudice at the request of the Trump administration, ending the year-long court battle. 

    “This is really big news, and this dismissal reinforces the fundamental principle: federal agencies do not have authority Congress doesn’t grant them,” said Cramer. “The Biden Federal Highway Administration tried to pull a regulation out of thin air to pursue its radical, crazy, bizarro climate agenda, deliberately ignoring the legal boundaries of the law and our Constitution. States and my colleagues in Congress were right to push back against this unlawful mandate. I’m really grateful the Trump administration changed course and for the Court’s requisite dismissal.”

    “The greenhouse gas emissions performance measure rule would have limited the flexibility of states to advance their own transportation investment priorities that meet the needs of their constituents,” said Capito. “The rule shifted the focus of the Federal-aid Highway Program away from building roads and bridges – jeopardizing jobs and undermining economic growth across the country. The decision from President Trump’s FHWA to end the previous administration’s attempt to continue this unlawful rule is an important step in reversing the extreme climate agenda of the past four years, and I’m thrilled that the court has now officially dismissed the appeal.”

    The state of Texas also filed a separate suit against FHWA, and the District Court for the Northern District of Texas vacated the Biden rule. The Department of Transportation appealed the ruling. Cramer, Capito, Graves, and Crawford also led their colleagues in filing a separate bicameral amicus brief requesting the Fifth Circuit Court of Appeals uphold the District Court decision.

    Previously, Cramer led a bipartisan Congressional Review Act joint resolution of disapproval to overturn the rule. The resolution passed the Senate in April by a vote of 53 to 47, reiterating Congress’ opposition to FHWA’s overreach. In a speech on the Senate floor, Cramer committed to leading an amicus brief in support of overturning the rule in court.

    MIL OSI USA News –

  • MIL-OSI China: Pro-Russian paramilitary leader dies in Moscow blast

    Source: China State Council Information Office

    A pro-Russian paramilitary leader from eastern Ukraine, Armen Sarkisyan, has died from his injuries in a blast at a residential building in Moscow, local media reported Monday.

    Sarkisyan was the head of the Donetsk People’s Republic Boxing Federation and founder of the Arbat volunteer battalion.

    One person was killed and four others were injured in the explosion at the entrance of the residential building in Moscow on Monday, the Russian Investigative Committee said.

    The committee later said that one of the injured died in hospital. Local media confirmed that person to be Sarkisyan.

    MIL OSI China News –

  • MIL-Evening Report: As Trump deportations intensify, Pacific Island nations worry they could be overwhelmed

    Source: The Conversation (Au and NZ) – By Henrietta McNeill, Research fellow, Australian National University

    In his first term, Donald Trump deported far fewer people from the United States than his three predecessors: Barack Obama, George W. Bush and Bill Clinton.

    Just weeks into his second term, however, Trump is making the deportation of immigrants one of his top priorities. Immigration raids on those who have overstayed their visas and non-citizens with criminal histories have already commenced, with arrests increasing dramatically in recent days.

    His administration has announced plans to build a migrant detention facility at Guantanamo Bay in Cuba that could hold up to 30,000 people awaiting deportation. Trump has also threatened to use a little-known law from 1798 to speed up the process, bypassing immigration courts.

    While much of the attention has focused on the hundreds of thousands of migrants at risk of being deported to Latin America, many Pacific islanders are likely to be ordered to leave, as well.

    A list from the US Immigration and Customs Enforcement of people with “final orders of removal” includes some 350 migrants from Fiji, 150 from Tonga and 57 people from Samoa, among others.

    Unsurprisingly, Trump’s threats have invoked fear across the Pacific. Prominent Fijian lawyer Dorsami Naidu told the ABC:

    We’ve had lots of people who have served prison sentences in America get sent back to Fiji where they introduce different kinds of criminal activities that they are well-groomed in.

    It should be noted, though, that not all of the people with orders to leave have been convicted of serious crimes. Many have simply overstayed their visas or may have only committed a minor infraction. Most want to turn their lives around.

    Lack of support

    Criminal deportations from the US, Australia and New Zealand have increased dramatically over the past decade, yet there is still a crucial lack of funding to support reintegration services.

    Concerns about the repercussions of criminal deportations are particularly high in Tonga, which received more than 1,000 returnees from 2009–20, nearly three-quarters of whom were from the US.

    One Tongan commentator suggested Trump’s decision would “unleash a wave of deportees that could drown Tonga and other Pacific nations in crisis”.

    Though some Tongan returnees are accepted back into families and societies, many struggle. A large number left the country when they were young and often have limited understanding of the local language and culture. As such, they experience difficulties reintegrating into society.

    My research shows that some deported Pacific islanders with criminal histories may turn “back to what they know” in the absence of support, which at times means involvement in the drug trade if there are no other means of gainful employment.

    In countries like Tonga where there is an escalating methamphetamine problem and a lack of employment opportunities, this is understandably concerning.

    Tonga, like other Pacific countries, struggles to fund organisations that crucially assist with deported peoples’ reintegration needs in order to prevent the risk of (re)offending. The countries deporting these individuals (such as the US, New Zealand or Australia) rarely provide any assistance, despite repeated requests from Pacific governments and non-governmental organisations.

    Can these countries negotiate instead?

    Countries can push back against Trump’s decisions to deport their citizens. Colombia was the first to do so, when President Gustavo Petro initially refused to allow military planes carrying deported migrants to land.

    Petro’s refusal was met with fury in Washington. Trump threatened a number of retaliatory trade measures, prompting Petro to eventually relent.

    Pacific states have previously tried to push back against deportations during the COVID pandemic. Samoa and Tonga, for instance, used diplomatic channels to request a “pause” on removals while they grappled with the unfolding health crisis.

    Australia and New Zealand complied with the request, but the US did not. Instead, it used punitive measures to force states into continue receiving deportations.

    For instance, the US blacklisted Samoan and Tongan nationals from the list of states eligible for seasonal work visas, affecting these countries’ economies. They were not returned to the list until they “complied” with US removals.

    International law mandates that countries accept their own citizens if they are deported. Those that refuse are deemed “deviant states”, which can cause problems for both the deporting state and returnees trapped in limbo.

    However, there are other ways of delaying deportation orders.

    For example, Samoa has requested additional information from the countries trying to deport Samoans and will not issue travel documents (for example, a passport) until this request is complied with. This information includes evidence of an individual’s connection to Samoa and family ties in the country.

    Samoan authorities maintain this helps organisations like the Samoa Returnees Charitable Trust find their families and arrange appropriate accommodation, aiding with their reintegration.

    Countries like Colombia and Samoa are acting in the interests of their citizens. While many have legitimate concerns about returnees potentially turning to crime once they are in their home countries, these states also want to challenge the perception that all migrants are criminals.

    As Petro, the Colombian president, was quick to point out:

    They are Colombians. They are free and dignified, and they are in their homeland where they are loved […] The migrant is not a criminal. He is a human being who wants to work and progress, to live life.

    Henrietta McNeill 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. As Trump deportations intensify, Pacific Island nations worry they could be overwhelmed – https://theconversation.com/as-trump-deportations-intensify-pacific-island-nations-worry-they-could-be-overwhelmed-248900

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Policy bank lends 20.4B yuan to support dual-use public infrastructure

    Source: China State Council Information Office

    China Development Bank issued loans of 20.4 billion yuan (about 2.85 billion U.S. dollars) in 2024 to support 136 “dual-use public infrastructure” projects in cities including Beijing, Shenzhen and Fuzhou, said the policy bank.

    Dual-use public infrastructure refers to public facilities such as stadiums, convention centers and parking facilities that can be easily converted for emergency use.

    In recent years, China has proposed strengthening the construction of affordable housing, renewing urban villages, and developing dual-use public infrastructure.

    Guan Hongyan, general manager of the bank’s transportation department, said the bank will increase medium- and long-term financing support for relevant projects.

    MIL OSI China News –

  • MIL-OSI China: Lukashenko officially declared winner in Belarusian presidential elections

    Source: China State Council Information Office

    This file photo shows Belarusian President Alexander Lukashenko (C) casting his ballot at a polling station in Minsk, Belarus, Jan. 26, 2025. [Photo/Xinhua]

    Belarusian Central Election Commission on Monday officially declared Alexander Lukashenko’s victory in the latest presidential elections with 86.82 percent of the votes.

    For other candidates, Sergei Syrankov received 3.21 percent, followed by Oleg Gaidukevich (2.02 percent), Anna Kanopatskaya (1.86 percent) and Alexander Khizhnyak (1.74 percent). Around 3.60 percent of voters voted against all candidates.

    The presidential elections were held in Belarus on Jan. 26. The turnout was 85.69 percent.

    Under Belarusian law, a presidential candidate who secures more than 50 percent of the vote is declared the winner.

    Lukashenko was first elected president of Belarus in 1994. He was later re-elected in 2001, 2006, 2010, 2015 and 2020.

    MIL OSI China News –

  • MIL-OSI USA: Crapo, Wyden Announce Senate Finance Subcommittee Assignments

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–Senate Finance Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Ron Wyden (D-Oregon) today announced subcommittee assignments, Joint Committee on Taxation membership and the designation of members to serve as Congressional Trade Advisors for the 119th Congress.

    Subcommittee on Social Security, Pensions and Family Policy

    Republicans

    Chuck Grassley, IA, Chairman

    Todd Young, IN

    Marsha Blackburn, TN

    Democrats

    Bernard Sanders, VT

    Catherine Cortez Masto, NV

    Subcommittee on International Trade, Customs and Global Competitiveness

    Republicans

    John Cornyn, TX, Chairman

    Chuck Grassley, IA

    John Thune, SD

    Tim Scott, SC

    Steve Daines, MT

    Todd Young, IN

    Thom Tillis, NC

    Roger Marshall, KS

    Democrats

    Raphael Warnock, GA

    Michael Bennet, CO

    Mark Warner, VA

    Sheldon Whitehouse, RI

    Catherine Cortez Masto, NV

    Elizabeth Warren, MA

    Tina Smith, MN

    Subcommittee on Energy, Natural Resources and Infrastructure

    Republicans

    James Lankford, OK, Chairman

    John Cornyn, TX

    Tim Scott, SC

    Steve Daines, MT

    John Barrasso, WY

    Roger Marshall, KS

    Democrats

    Maria Cantwell, WA

    Michael Bennet, CO

    Maggie Hassan, NH

    Ben Ray Luján, NM

    Peter Welch, VT

    Subcommittee on Health Care

    Republicans

    Todd Young, IN, Chairman

    John Thune, SD

    Tim Scott, SC

    Bill Cassidy, LA

    James Lankford, OK

    Steve Daines, MT

    John Barrasso, WY

    Ron Johnson, WI

    Thom Tillis, NC

    Marsha Blackburn, TN

    Roger Marshall, KS

    Democrats

    Maggie Hassan, NH

    Mark Warner, VA

    Sheldon Whitehouse, RI

    Catherine Cortez Masto, NV

    Elizabeth Warren, MA

    Bernard Sanders, VT

    Tina Smith, MN

    Ben Ray Luján, NM

    Raphael Warnock, GA

    Peter Welch, VT

    Subcommittee on Taxation and IRS Oversight

    Republicans

    John Barrasso, WY, Chairman

    Chuck Grassley, IA

    John Cornyn, TX

    John Thune, SD

    Bill Cassidy, LA

    James Lankford, OK

    Ron Johnson, WI

    Thom Tillis, NC

    Marsha Blackburn, TN

    Democrats

    Michael Bennet, CO

    Mark Warner, VA

    Sheldon Whitehouse, RI

    Maggie Hassan, NH

    Elizabeth Warren, MA

    Bernard Sanders, VT

    Ben Ray Luján, NM

    Raphael Warnock, GA

    Subcommittee on Fiscal Responsibility and Economic Growth

    Republicans

    Ron Johnson, WI, Chairman

    Bill Cassidy, LA

    Democrats

    Tina Smith, MN

    Designation of Members to Serve on the Joint Committee on Taxation

    Mike Crapo, ID

    Chuck Grassley, IA

    John Cornyn, TX

    Ron Wyden, OR

    Maria Cantwell, WA

    Designation of Members to Serve as Congressional Trade Advisors on Trade Policy and Negotiations

    Mike Crapo, ID

    Chuck Grassley, IA

    John Cornyn, TX

    Ron Wyden, OR

    Maria Cantwell, WA

    The chairman and ranking member are ex officio members of all subcommittees.

    The Rules of Procedure for the Senate Finance Committee are here.

    MIL OSI USA News –

  • MIL-OSI USA: Crapo: Christopher Wright will Advance and Promote American Energy Independence

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho) issued the following statement after the Senate confirmed, by a vote of 59-38, Christopher Wright to be Secretary of the U.S. Department of Energy (DOE):

    “Christopher Wright has committed to an all-of-the-above domestic energy strategy that will advance and promote innovative solutions to achieve greater American energy excellence, leadership and independence.  He has an extensive background spanning many energy sources.  Wright’s commitment to ensuring America is the leader in nuclear energy holds particular value for Idaho, which is home to one of the nation’s leading nuclear laboratories.  Under his leadership at DOE, our nation will prioritize affordable, reliable and secure energy sources that support American innovation and growth and improve the lives of Americans.”

    MIL OSI USA News –

  • MIL-OSI China: Shenzhou-19 astronauts share details of work and life in space

    Source: China State Council Information Office 2

    This undated video grab shows Shenzhou-19 astronauts sending their Spring Festival greetings from China’s Tiangong space station. (Xinhua)
    As China’s Shenzhou-19 mission reaches its halfway, the three astronauts aboard the Tiangong space station, orbiting 400 kilometers above Earth, have shared their experiences during the Spring Festival, offering a glimpse into their unique lives in space.
    SCIENTIFIC BREAKTHROUGHS AND SPACEWALKS
    The crew commander Cai Xuzhe, who returned to the space station after about two years, described the feeling as “warm and familiar” in a video released on China’s CCTV on Thursday.
    This is Cai’s second time working and living in China’s space station, but his first time celebrating the Spring Festival there. In 2022, he spent six months in space during the Shenzhou-14 mission.
    The Shenzhou-19 astronauts entered the space station on Oct. 30, 2024. According to Cai, over the past three months, the crew has completed a series of tasks, including the handover with the Shenzhou-18 crew, routine maintenance of the space station, and two spacewalks.
    These extravehicular activities (EVAs), commonly known as spacewalks, are essential for repairs, experiments, and testing equipment outside the station.
    Cai emphasized the importance of their training, including system-wide emergency pressure drills and medical rescue exercises.
    “These exercises have significantly improved our ability to handle unexpected situations, allowing us to work more efficiently and safely,” he said.
    Supported by ground teams, the astronauts have also advanced scientific experiments, such as cutting-edge research on human brain organoids and new material exposure tests in the harsh environment of space.
    “We are steadily progressing with our scientific missions, focusing on space life science, microgravity physics, space material science, and aerospace medicine,” Cai noted.
    Song Lingdong, who participated in two spacewalks, shared his awe-inspiring experience.
    “Before my first EVA, I imagined what it would be like, but nothing prepared me for the moment I opened the hatch and saw Earth. It was breathtaking,” he recalled. “Climbing on the module walls, I felt as if I was walking on clouds.”
    “I was mesmerized by the beauty of space, but at the same time, I felt the weight of our mission,” he added.
    Their first nine-hour spacewalk proved China’s new-generation spacesuits to be both safe and effective, according to Song.
    Addressing public curiosity, Song explained how astronauts stay energized during long EVAs. “We eat high-calorie meals beforehand and drink functional beverages during the task. We highly concentrate on the tasks and don’t feel hungry,” he said.
    FAMILY, SPACE, GYM AND PRIDE
    Life aboard the space station is not all work. During the Spring Festival, the crew took time to rest, call their families, and capture stunning photos of Earth and space.
    “We sent New Year greetings from space and recorded videos to cherish these moments,” said Song, who plans to document his experiences for his children.
    Wang Haoze, China’s first female space engineer working in the space station, expressed pride in China’s space achievements, marveling at the sophisticated systems of their “space home.”
    Despite the busy schedule, the astronauts find joy in simple activities. “We float freely like ‘sky flyers,’ lift heavy objects effortlessly, interact with our AI assistant, and even grow vegetables and raise fruit flies,” Wang said.
    Wang enjoys writing space diaries. Her favorite pastime, however, is gazing at Earth through the porthole, admiring Earth’s landscapes, from vast oceans to majestic mountains.
    “Seeing our homeland from space fills me with excitement, pride, and longing,” said Wang.
    To combat the effects of weightlessness, the crew followed a strict exercise regimen using specialized equipment like the space treadmill, stationary bike and resistance devices.
    “These exercises keep our bones, muscles and hearts healthy. And with balanced meals, we feel strong and energized,” Wang explained.
    The crew also finds time to bond over meals, share humor, and maintain their spirits.
    As they celebrated three months in orbit during the Spring Festival, Wang sent a heartfelt message: “May our nation thrive, and may we achieve new heights together, from space to Earth.”
    This is the third Spring Festival since the full completion of the Chinese space station. Nine crew members from Shenzhou-15, Shenzhou-17 and Shenzhou-19 have welcomed the New Year and the Spring Festival in space.

    MIL OSI China News –

  • MIL-OSI Australia: Funds flowing for new crisis and transitional housing

    Source: Ministers for Social Services

    The Albanese Labor Government has announced that 42 projects across Australia will receive a share of $100 million building hundreds of new crisis and transitional homes for thousands of women and children impacted by family and domestic violence, and older women at risk of homelessness.

    Funded under the Housing Australia Future Fund (HAFF), the Crisis and Transitional Accommodation Program (CTAP) funds the building, remodelling or purchase of new or expanded crisis or transitional accommodation.

    The funding is part of the Albanese Government’s ambitious housing reform agenda, as well as our commitment, along with states and territories, to end gender‑based violence within one generation.

    Since coming to office, the Albanese Government is investing nearly 20 times more funding in crisis and transitional accommodation and programs than the previous Coalition government did in a decade.

    CTAP aligns with the Government’s broader housing and women’s safety agendas, including the National Plan to End Violence against Women and Children 2022–2032, the National Housing Infrastructure Facility and builds on the work of existing emergency and crisis accommodation programs like the Safe Places Emergency Accommodation Program.

    A range of projects have been selected under CTAP, including projects that will be tailored to support culturally and linguistically diverse women and children, First Nations women and children, and older women.

    Hundreds of applications were received, demonstrating the critical need for secure housing across Australia after a decade of neglect by the Coalition. Those applications were assessed through an open, competitive grants process and all successful projects clearly demonstrated how the projects will meet the needs of women and children experiencing violence and older women at risk of homelessness.

    Our Government’s separate $100 million investment in the Safe Places Emergency Accommodation Program through the 2024 Inclusion Round is already bringing the total number of emergency accommodation places delivered under the program across Australia to around 1,500.

    Once all Safe Places projects are complete, more than 11,000 women and children experiencing family and domestic violence will be able to be supported each year, with this additional funding going towards helping thousands more.

    More information about the Crisis and Transitional Accommodation Program and the Safe Places Program is available from the Department of Social Services website.

    If you or someone you know is experiencing, or at risk of experiencing, domestic, family, or sexual violence, call 1800 737 732, text 0458 737 732 or visit www.1800RESPECT.org.au for online chat and video call services.

    Connect with 13YARN Aboriginal & Torres Strait Islander Crisis Supporters on 13 92 76, available 24/7 from any mobile or pay phone, or visit www.13yarn.org.au No shame, no judgement, safe place to yarn.

    If you are concerned about your behaviour or use of violence, you can contact the Men’s Referral Service on 1300 766 491 or visit www.ntv.org.au

    Quotes attributable to Minister for Housing and Homelessness, Clare O’Neil MP

    “Family and domestic violence is a scourge on our society which has a huge impact on vulnerable women and kids.

    “Labor knows that having a safe place to go can be the difference between leaving a violent relationship or staying. That’s what these projects are about – empowering some of the most vulnerable people in our community with a safe place to go.

    “42 organisations will be funded around the country to deliver hundreds of new crisis and emergency homes, resulting in more women and children having secure accommodation when they need it most.

    “We know that these groups are two of the most at risk for not having a safe place to call home, and this housing insecurity can lead to other disadvantages, and it’s a measure of any society how it protects its most vulnerable, and our Government is investing to secure a safer future for women.”

    Quotes attributable to Minister for Social Services, Amanda Rishworth MP

    “Family and domestic violence is one of the leading causes of homelessness and housing uncertainty for women and children across Australia, and we know there is an increased demand for emergency accommodation.

    “The impact of family and domestic violence ripples across communities and it is why, along with states and territories, our Albanese Labor Government is committed to ending violence against women and children in one generation. As Minister, I have thought about this issue every day in my portfolio.

    “This critical CTAP investment, along with our previous investment in the Safe Places Emergency Accommodation program, will ensure that women and children experiencing violence have a safe place to go and don’t have to choose between housing and their safety.”

    MIL OSI News –

  • MIL-OSI Security: Member of Puyallup Tribe sentenced to 13 years in prison for shooting death of his friend

    Source: Office of United States Attorneys

    Tacoma – A member of the Puyallup Tribe was sentenced today in U.S. District Court in Tacoma to 13 years in prison for the fatal shooting of someone he considered a friend, announced U.S. Attorney Tessa M. Gorman. Dennis Jacobsen, 32, was arrested shortly after the shooting on October 21, 2021. Jacobsen was originally charged with unlawful possession of a firearm because of convictions for robbery and unlawful firearms possession in Pierce County Superior Court. In June 2024, Jacobsen pleaded guilty to voluntary manslaughter and using a firearm during a crime of violence.

    At the sentencing hearing U.S. District Judge Benjamin H. Settle said, “This is a tragic story of illicit drug use and a firearm. The lives of the loved ones of the victim will carry this loss for years.”

    According to records filed in the case, both Jacobsen and the victim had been drinking and using drugs the morning of the shooting. The two were seen together outside the victim’s home within the confines of the Puyallup reservation. The two men walked behind the home and witnesses heard three gunshots. The victim was shot once in the arm and twice in the head, at least once at close range. Witnesses then saw Jacobsen run from behind the house, get in a vehicle and drive away.

    When police went to Jacobsen’s residence, they found the handgun with one bullet still in the chamber. The ammunition matched the type of ammunition used in the shooting.

    In asking for the 15-year sentence, Assistant U.S. Attorney Todd Greenberg wrote to the court, “The impact of (the victim’s) killing has been felt deeply in the community. His girlfriend was pregnant with his son at the time of the killing. She can now only show her son the photographs of his father. (The victim’s) parents are now without a son and the greater Puyallup community has lost another tribal member to a violent tragedy.”

    Jacobsen will be on five years of supervised release following his prison sentence.

    The case was investigated by the Puyallup Tribal Police and the FBI.

    The case is being prosecuted by Assistant United States Attorney Todd Greenberg.

    MIL Security OSI –