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Category: housing

  • MIL-OSI United Kingdom: New theme group created to establish future careers for the Armed Forces community

    Source: City of Plymouth

    Pictured from left to right hand side, front row:
    Andrew McConochie, Lieutenant Commander, Royal Navy
    Cllr Pauline Murphy, Deputy Lord Mayor and Armed Forces Champion, Plymouth City Council
    Emma Hewitt, Skills Lead, Plymouth City Council
    Victoria Mead, Skills and Workforce Coordinator, Plymouth City Council

    Pictured from left to right hand side, back row:
    David FitzGerald, President of the Royal British Legion Dartmoor Branch
    Darryl Newman, Nursing and Clinical Professions Recruitment Lead and Armed Forces Champion, University Hospitals Plymouth NHS Trust
    Consort Cllr Mark Coker, Plymouth City Council
    Cllr Chris Penberthy, Cabinet Member for Housing, Cooperative Development and Communities
    Lewis Elliot, Sea Cadet
    Jon Beake, Defence Relationship Management in the SW, Wessex RCFA

    Plymouth’s Armed Forces Covenant is launching a new theme group to help enable better access to local employment, skills and training opportunities for military service leavers, working-age veterans, military family spouses, partners and young people.

    Last year, the Council renewed its commitment to the Armed Forces Covenant.

    The Armed Forces Covenant is a nationwide agreement between the armed forces community, the nation and the government.

    One of the commitments from signing the Covenant, is to establish better job and training opportunities for members of the Armed Forces community.

    Led by Plymouth City Council’s Skills Launchpad Plymouth team, the representatives of the group are:

    • Plymouth’s Veterans and Families Hub
    • Forces Employment Charity
    • Career Transition Partnership
    • The Royal Marines Charity
    • Department for Work and Pensions.

    With strong involvement from local employers who are signatories of the Armed Forces Covenant including University Hospitals Plymouth NHS Trust, Babcock, Livewell Southwest, Crowne Plaza Hotel, Wolferstans Solicitors and Plymouth City Bus.

    A launch event was held today to bring together a key group of people who will be involved in this work and to raise the profile of the Armed Forces Covenant with the local business community.

    Deputy Lord Mayor and Armed Forces Champion, Councillor Pauline Murphy, said: “Working in city-wide partnership, we want to recognise, communicate and seek to reduce the challenges faced by those within the Armed Forces community.

    “As a proud military city, I am delighted that we are launching Plymouth’s new vision for enabling better access to local employment and future careers. We are pro-actively engaging with our business community to increase commitment for the Armed Forces Covenant and want to create a win-win to help solve recruitment challenges in the city as we promote the highly transferrable skills and talent of our military community.

    “We are excited to support this joined up approach which builds on the Council’s renewal last year and strong commitment to the Armed Forces Covenant.”

    Attendees at the theme group launch event held 30 January 2025 at the Council House

    Speaking at the launch event, Darryl Newman, Nursing and Clinical Professions Recruitment Lead and Armed Forces Champion at University Hospitals Plymouth NHS Trust said: “I’m proud to be chairing the Armed Forces Future Careers and Employers Group to support our city’s Armed Forces Community.

    “The Armed Forces Future Careers and Employers Group will bring together employers across the city to identify, support and grow employment for the Armed Forces Community across Plymouth, whilst sharing best practice.”

    Representing the Royal Navy, Andrew McConochie, Lieutenant Commander said: “With Plymouth being home to the largest naval base in Western Europe with the highest concentration of veterans in England, this new coordinated approach will provide significant value to serving personnel in planning their local employment and future career transitions, along with valuable support for their families, helping to both attract and retain talent in the city.” 

    Luke Pollard MP for Plymouth Sutton and Devonport shared his best wishes for a successful launch of the new theme group. He said: “I am so proud of my home city of Plymouth for stepping up to enhance localised employment and training support for our valued Armed Forces community. By fostering this new collaboration between local, regional and national service providers, and building better awareness of the increasing investment and growth in jobs and career pathways available in the city, we can create a brighter future.

    “We greatly appreciate the businesses who have already pledged their support for the Armed Forces Covenant, and I’d encourage more Plymouth organisations to become part of the Ministry of Defence’s Employer Recognition Scheme so that we can achieve even more positive outcomes together.”

    To find out more and to get involved, email [email protected]

    MIL OSI United Kingdom –

    January 31, 2025
  • MIL-OSI Africa: Nigeria’s plastic bottle collectors turn waste into wealth: survey sheds light on their motivation

    Source: The Conversation – Africa – By Solaja Mayowa Oludele, Lecturing, Olabisi Onabanjo University

    Plastic waste in Nigeria presents a dual challenge: cleaning up environmental pollution, and tapping into its economic potential.

    Many countries worldwide face similar challenges. India, for one, has chosen policies that give producers of plastic the responsibility to manage their waste. Rwanda has banned single-use plastic and promoted recycling initiatives led by communities.

    These approaches show it’s possible to address plastic waste issues while fostering economic opportunities.


    Read more: Nigeria’s plastic ban: why it’s good and how it can work


    In Nigeria, informal collectors of plastic bottle waste are central to achieving both of these goals. They turn waste into monetary value.

    Previous research has highlighted the environmental and economic benefits of collecting plastic bottle waste. There’s been less attention on what shapes perceptions of waste collection as a business, particularly in Nigeria.

    This article explores that gap, looking at the socio-cultural, economic and environmental influences on those perceptions.

    I am a researcher in the areas of plastic waste management, environmental governance and sustainable development. My work includes studying homes made from recycled plastic bottles in sustainable community-based housing projects.

    Here I’ll be drawing from an exploratory survey conducted in the Ijebu area of Ogun State, Nigeria. Using a questionnaire, we surveyed 86 participants who had at least five years of experience in the plastic waste industry.

    The study identified factors like education, family size, religion, gender, age, and economic dynamics as relevant to participation in the business of plastic bottle waste collection.

    Understanding these influences might help the government to target policies.


    Read more: Nigeria is the world’s 2nd biggest plastic polluter: expert insights into the crisis


    Education level and information

    Our study found that participants with higher education levels better understood the economic benefits of plastic waste collection as a systematic form of business. The less educated participants viewed waste collection more as a hand-to-mouth way of earning a living.

    Education programmes built into waste management campaigns could improve recognition of waste collection as a structured and profitable business opportunity and develop a business-like culture among the collectors.

    Parenthood, family size and financial obligations

    Family size was a factor affecting perceptions of plastic bottle waste collection as a business. People with large families saw waste collection as a feasible way to provide food, housing, education and other essentials.

    However, the association of waste collection with income instability highlights the need to formalise and stabilise the sector. Waste collection must be made into a sustainable and reliable business model.

    Religion and cultural norms

    Religion and cultural beliefs emerged as influences from our survey. This was evident in the responses of people who followed African traditional religions and Islam.

    These respondents viewed waste collection as financially feasible, aligning with religious teachings that emphasise resource management and stewardship. For example, Islamic teachings on israf (avoiding wastefulness) and zakat (charity) promote efficient resource use and economic activities that benefit communities.

    Similarly, African traditional religion often emphasises communal responsibility and the sustainable use of resources. These religious principles underscore the cultural acceptance of waste collection as both a practical and a morally guided economic activity.

    Other cultural norms, such as the value placed on communal responsibility and cooperation, also influenced attitudes towards waste collection. In communities with a strong tradition of collective action, where unity and mutual support are highly valued, waste collection is often viewed as a collaborative effort.

    These cultural norms reinforce the idea that waste collection is not just an individual task, but a collective duty that benefits the entire community.


    Read more: Informal waste management in Lagos is big business: policies need to support the trade


    Gender dynamics

    Gender plays a role in perception and practice in waste collection. Our survey found that male participants were more likely than female participants to perceive this activity as a business.

    As constrained as they are by lack of access to resources, women are involved in separating and marketing reusable items. Measures like microfinance could increase women’s engagement and business opportunities.

    This would empower women and make waste collection a more inclusive and sustainable business.

    Age and desire to be an entrepreneur

    Perceptions were influenced by age in our study. Younger individuals, up to 14 years old, viewed plastic bottle waste collection as a gateway to employment. Adults aged 33-38 used their experience to get better returns on the business.

    This age-based distinction suggests that different stages of life bring unique motivations and approaches to waste collection.

    Policy actions that support entrepreneurship at various life stages can promote long-term engagement in the industry. This will help formalise waste collection as a sustainable and profitable business.

    Economic and social factors

    Income opportunities affected participants’ experiences more than social factors. Oftentimes, this determined how long they stayed in the business. Those earning more were likelier to reinvest and grow, while lower earnings often led to disengagement or exit. This highlights the importance of financial incentives in shaping waste collection practices.

    Social connections also play a role in fostering collaboration. It facilitates teamwork and the exchange of ideas, and creates a sense of shared purpose and collective outcomes among participants.

    Strengthening these economic and social bonds can formalise plastic bottle waste collection, making it a more efficient and profitable business.


    Read more: Waste disposal in Nigeria is a mess: how Lagos can take the lead in sorting and recycling


    Looking ahead

    The study has significant application to Nigeria’s waste management industry. Adding education programmes into waste management programmes will improve people’s business skills.

    Well-coordinated intervention strategies can remove cultural and gender-specific barriers. For instance, cooperatives and microfinance may make waste collection more financially appealing.

    Strategies can also draw on cultural norms to increase community acceptance of waste collection and make it more inclusive.

    Samuel Oludare Awobona, a doctoral student at Osun State University, Osogbo, Nigeria, contributed to this research.

    – Nigeria’s plastic bottle collectors turn waste into wealth: survey sheds light on their motivation
    – https://theconversation.com/nigerias-plastic-bottle-collectors-turn-waste-into-wealth-survey-sheds-light-on-their-motivation-247819

    MIL OSI Africa –

    January 31, 2025
  • MIL-OSI Africa: Land seizure and South Africa’s new expropriation law: scholar weighs up the act

    Source: The Conversation – Africa – By Zsa-Zsa Temmers Boggenpoel, Academic, Stellenbosch University

    South Africa has a new law to govern the expropriation (or compulsory acquisition) of private property by government for public purposes or in the public interest.

    The passing of the Expropriation Act 13 of 2024 followed a parliamentary process that began in 2020.

    The act repeals the apartheid-era Expropriation Act 63 of 1975, and aims to align expropriation law with the constitution. It sets out the procedures, rules and regulations for expropriation. Besides setting out in quite a detailed fashion how expropriations are to take place, the act also provides an outline regarding how compensation is to be determined.

    In South Africa’s colonial and apartheid past, land distribution was grossly unequal on the basis of race. The country is still suffering the effects of this. So expropriation of property is a potential tool to reduce land inequality. This has become a matter of increasing urgency. South Africans have expressed impatience with the slow pace of land reform.

    Property rights and land reform

    There is much debate in the country about the provisions of the new act. The debate is mostly about the extent to which it affects existing private property rights. Some argue the act is unconstitutional. Others welcome it as a necessary step in the right direction.

    I’m a professor of law with a keen interest in this area of the law, and recently edited a book on land expropriation in South Africa by leading experts. My view is that an expropriation act that is aligned with the constitution should be welcomed, to enable land reform to work effectively.


    Read more: Land reform in South Africa: what the real debate should be about


    Land reform also needs a capable and proactive state that implements the legal framework in such a manner that prioritises expropriation as a mechanism to ensure land reform.

    So far, expropriation has not been used effectively to redistribute land more equitably, as part of land reform.

    I am not convinced that the act, in its current form, is the silver bullet to effect large-scale land reform – at least not the type of radical land reform that South Africa urgently needs.

    Understandably, the act will have a severe impact on property rights. But it still substantially protects landowners affected by expropriation. Only in very limited cases would they not be compensated.

    Protections for land owners

    The act says that property must not be expropriated arbitrarily or for a purpose other than a public purpose or in the public interest.

    Public purpose means by or for the benefit of the public. For example, expropriating property to build roads, schools and hospitals. Public interest is broader and includes the nation’s commitment to land reform.

    “Arbitrary” would usually mean without reason or justification.


    Read more: South Africa has another go at an expropriation law. What it’s all about


    The act further requires that an expropriating authority – an organ of state or person empowered by the act or any other legislation – must first try to reach an agreement with the owner to acquire the property on reasonable terms before considering expropriation.

    This gives some power to a landowner, even though expropriation does not normally require consent. The act also says a specific expropriation must always be authorised by a law.

    No compensation?

    Section 12 of the act deals with compensation for expropriation. It is arguably the most controversial part of the new legislation. Section 12(1) does not appear to be problematic and is largely the same wording as section 25(3) of the constitution. This part of the property clause sets out what must be taken into account when compensation for expropriation is determined.

    Section 12(3) of the act refers to “nil compensation” – when nil rand (monetary) compensation may be paid. There is no explicit reference to nil compensation in the current wording of section 25 of the constitution. It’s a new thing in the Expropriation Act.

    However, courts have toyed with the idea that section 25 of the constitution already provides room for a reduction in compensation.

    The circumstances in which nil compensation could be granted in terms of the new act are in fact very limited. Section 12(3) leaves the discretion to the expropriating authority to determine when it may be just and equitable to pay nil compensation. However, the act lacks guidelines on how such a discretion must be exercised.


    Read more: Land is a heated issue in South Africa – the print media are presenting only one side of the story


    The scope of section 12(3) is also limited in some respects. For one, it is restricted to land. Only where land is expropriated would nil compensation be an option. Therefore, not all forms of property can be expropriated without compensation. The notion of property under section 25(1) of the constitution is generally wide and includes various rights and interests, which are broader than just land. For instance, personal rights, mineral rights and licences are included under the section 25(1) notion of property.

    This wide understanding of property is not applicable to section 12(3), which refers to “land” being expropriated.

    Section 12(3) is also limited to the expropriation of land “in the public interest”. Nil compensation is therefore envisaged only in the context of expropriation of land undertaken in the public interest, and not also for a public purpose.

    Three of the four categories listed in section 12(3), where nil compensation is envisaged, are linked to the way in which the property was being used prior to the expropriation. Land used in a productive manner is therefore not evidently envisaged under section 12(3).

    Nil compensation is not necessarily limited to the instances listed. Still, the amount of compensation must – in all instances – be just and equitable.

    Novel approach

    The act forces South Africans to engage with the idea of nil compensation in a much more direct manner.

    The presence of a clause dedicated to nil compensation provides new clarity on when this could apply.

    It is hard to determine whether this act will pass constitutional muster without seeing how expropriation under it will work in practice. It remains to be seen whether it will have the far-reaching consequences that many fear, or call for.

    – Land seizure and South Africa’s new expropriation law: scholar weighs up the act
    – https://theconversation.com/land-seizure-and-south-africas-new-expropriation-law-scholar-weighs-up-the-act-244697

    MIL OSI Africa –

    January 31, 2025
  • MIL-OSI Global: The growing influence of Israel’s ultranationalist settler movement

    Source: The Conversation – UK – By Leonie Fleischmann, Senior Lecturer in International Politics, City St George’s, University of London

    Days after taking office, as he issued executive order after executive order to change the political face of America, Donald Trump also turned his attention to the war in Gaza.

    His proposal that Gaza should be cleared out and Palestinians should be relocated to other countries such as Egypt and Jordan has been met with outraged disbelief in many quarters. The Arab League has accused him of advocating ethnic cleansing.

    But Trump’s statement has met with approval from far-right leaders in Israel. Influential politicians have been advocating for this “solution” for years. These include finance minister and leader of the Religious Zionist party, Bezalel Smotrich and his ideological ally Itamar Ben Gvir, leader of the Otzma Yehudit (Jewish Strength) party and former national security minister.

    Smotrich responded to Trump’s utterance with the declaration that he aimed to turn the idea into an actionable policy. Ben Gvir, who resigned his ministerial position recently in response to the Israeli acceptance of the latest ceasefire deal, claimed that the evacuation of Gazans was the most “humanitarian answer” to the crisis and the only way to ensure peace and security for both Israelis and Palestinians.

    The pair – and their followers in Israel – share an anti-Arab ideology and a messianic belief in the Jewish people’s right to what they call “Greater Israel”. This would be a Jewish state which would also include the West Bank, which they referred to as “Judea and Samaria”, as well as Gaza and part of Jordan, Lebanon, Egypt, Syria, Iraq and Saudi Arabia.

    They have repeatedly called for Israel to use the war as an opportunity to reoccupy Gaza.

    These leaders enjoy a degree of influence due to the amount of media attention they receive. But it would be a mistake to assume they represent the majority of Israelis.

    Data collected in 2024 by the Pew Research Center found that 45% and 41% of Israelis expressed very unfavourable views of Ben-Gvir and Smotrich, respectively. In the 2022 elections, as the combined Religious Zionist party, they won just 10.84% of the vote.

    Meanwhile, the Israel Democracy Institute found that a majority of Israelis (57.5%) support a comprehensive deal for the release of all the hostages in return for an end to the war in Gaza.

    And yet Israel’s ultranationalists have been able to take advantage of the changing political landscape in Israel over the past few decades and the fragile multiparty system to wield disproportionate power over a government that has depended on their support to stay afloat.

    Israel’s rightwards shift

    During the 1990s, there was significant support in Israeli society for the Oslo peace process towards a two-state solution to the Israeli-Palestinian conflict. This culminated in the historic handshake between the then Israeli prime minister, Yitzhak Rabin, and the Palestine Liberation Organisation chairman, Yasser Arafat, on the White House lawn in 1993.

    While support for the peace process reached a high of 72% in Israel in 1995 when Oslo II was signed, right-wing factions attempted to derail the agreements. Rabin was assassinated in November 1995 by Yigal Amir, an extremist Israeli Jew, who did not want to see the realisation of a Palestinian state.

    The collapse of the Camp David talks in 2000, which then prime minister Ehud Barak blamed on Arafat, was followed in short order by the outbreak of the second intifada. The idea that there was “no partner for peace on the Palestinian side” became a mantra for Israeli voters, who looked to those who could guarantee their security.

    Benjamin Netanyahu, who had been prime minister from 1996 to 1999, returned to power in 2009, with the image of “Mr Security”.

    Netanyahu is now Israel’s longest serving prime minister. His masterful manipulation of the fragile political system in Israel has accounted for his longevity in power.

    But it has also enabled a gradual shift towards the most right-wing coalition in Israel’s history. Part of that has been the Religious Zionist camp.

    Biblical promise

    The Religious Zionists originally formed a small minority of the broader Zionist movement in the years preceding the declaration of the State of Israel. Religious Zionists combine faith and nationalism. Their core belief is that the Jewish people have the God-given right to settle the whole of Greater Israel.

    The West Bank in particular, but also the Gaza Strip, were the sites of many key events in biblical times and the home of a number of Israelite kingdoms. In the Bible, God promises this land to the descendants of Abraham – the Jewish people. Religious Zionists have chosen to take this literally.

    Having failed to wield power through the parliament in the early days of statehood, the Religious Zionists sought to realise their ideology through extra-parliamentary activity. This meant establishing settlements with a view to change facts on the ground. In the aftermath of the 1967 war, the main focus of settlement building was national security, rather than religious nationalist ideology.

    But ideology has always been a key factor for those who live in the settlements in the West Bank today – and those who vow to return to Gaza. The movement has been successful by establishing outposts and settlements in the West Bank and in getting “their people” into government.

    The Religious Zionist camp is broad and heterogeneous, and according to recent polls now represents 22% of the Jewish population in Israel. The party’s position in holding the balance of power in the Israeli parliament, or Knesset, since the election in 2022, has enabled them to gradually wield greater influence on Israeli policy both in the West Bank and the war in Gaza.

    Meanwhile many of their supporters have formed settler groups, who use violence to destabilise and displace Palestinian families living in the West Bank.

    And now the US president has not only backed one of their dearest dreams, to clear Palestinians from Gaza, he has removed the Biden-era sanctions on several of the most aggressive settler groups. So the recent news that Netanyahu will be the first foreign leader to visit the White House next week feels particularly ominous for the fate of the Palestinian people.

    Leonie Fleischmann 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. The growing influence of Israel’s ultranationalist settler movement – https://theconversation.com/the-growing-influence-of-israels-ultranationalist-settler-movement-248568

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Australia’s social media ban shows how extreme the technology debate has become – there’s a better way

    Source: The Conversation – UK – By James Conroy, Professor of Religious and Philosophical Education and Vice Principal, Internationalisation, University of Glasgow

    Miyao/Shutterstock

    The recent decision by the Australian government to introduce a ban on social media for under-16s has been received with both praise and condemnation.

    Those who approve of the proposal tend to consider that children are being exploited by egregious levels of exposure to this technology. Opponents of the ban argue that it is not proportionate to the potential harms of denying young people appropriate access to what have become integral features of everyday existence.

    This somewhat adversarial situation falls prey to the twin perils of fatalism and
    disasterism. It characterises the wider conversation about how we engage with the digital world. Here, fatalism signifies a weary resignation and disasterism suggests that we are all going to hell in a handcart. More specifically, these impulses impinge directly on school policy making and practice.

    In our Economic and Social Research Council funded research project, Teaching for Digital Citizenship, my colleagues and I have sought to uncover more nuanced accounts of how young people engage with technology by collaborating with them.

    The students in our study pointed us away from an adversarial framing of the issue and towards the need to foster more traditional forms of democratic thought. These practices draw on a robust tradition of what’s known as education for citizenship. That is, teaching students how to be active, thoughtful and informed citizens in a democratic society.

    Such a robust notion of education for citizenship has been championed by a range of thinkers. Most notably, the British political theorist Bernard Crick in the 1990s and the educational thinker Lawrence Stenhouse in the 1970s. They both offered ideas about educational practices that rely not on the technology, nor on corporations, but on older “analogue” traditions of critical thought and engagement in subjects.

    The students in our project expressed anxiety and sometimes guilt that they had spent too much time on their apps. By their own estimation, they were using apps for about eight hours a day. They told us that they were working on self discipline, but struggled to maintain these habits.

    Proactively, the students’ response to their own growing awareness of the grip that their apps had over their time was to try to engage in more analogue study activities, such as reading books. But they were concerned to discover that their capacity for reading was limited. Some observed that they found it challenging to read more than five pages.

    This is not to suggest that there are only downsides to being immersed in digital life. Many students suggested that there were also huge benefits. For example, they reported that gaming helped them acquire new skills and perspective.

    These examples illustrate the ambiguities of social media apps and their effect on those of school age.

    Ambiguous effects

    In many countries, schools are required to provide remedies for a whole range of social ills – and often in a manner that is of questionable relevance to the purpose of education.

    In his Ruskin Speech in 1976, former British prime minister James Callaghan asked whether education should be more aligned with the needs of industry, especially in providing the skills for employment. Since then, education in the UK, as elsewhere, has slowly moved away from how we should live, and towards how we are to make our living.

    Today, educators accept that young people, along with the rest of us, will spend their lives entangled in a complex digital world. The task of education should therefore primarily be to act as a productive space in which students can critically reflect upon, and form judgments about that world.

    Australian prime minister Anthony Albanese said the country’s ban would reduce the
    Juergen Nowak / Shutterstock

    Our research project engaged representatives from a variety of different sectors, including big tech companies, policymakers, teachers and ethicists. We also carried out an extensive survey, which highlighted that online safety and harm prevention should be prioritised within schools.

    Our insights underscore the importance of recognising and reinforcing education as a way of reflecting on the way we live – and an opportunity for providing critical distance from the dilemmas of our everyday lives. The ban on social media in Australia, or indeed on any technology, therefore misses a key consideration about the purpose of education.

    As has been seen under governments that have restricted the internet, banning technology rather than securing students’ safety may only serve to heighten the allure of that technology. Indeed, in our discussions with the students, they frequently reported their ability to deploy virtual private networks to circumvent their schools’ firewalls.

    In November, Australian communications minister, Michelle Rowland, claimed that “there is wide acknowledgment that something must be done in the immediate term to help prevent young teens and children from being exposed to streams of content, unfiltered and infinite”.

    I believe that this misunderstands both the problem and the solution. The actual problem is not that the content is “unfiltered and infinite”. It’s that it is highly curated to serve the profit-making objectives of tech corporations, and not the interests of children.

    The solution, then, is not to banish the problem but to address it. Education in the digital age needs to be re-imagined as a vibrant way to reflect and critique the ways we live our lives.

    James Conroy 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. Australia’s social media ban shows how extreme the technology debate has become – there’s a better way – https://theconversation.com/australias-social-media-ban-shows-how-extreme-the-technology-debate-has-become-theres-a-better-way-245123

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Canada: Saskatchewan’s Rich History Takes Centre Stage During Archives Week 2025

    Source: Government of Canada regional news

    Released on January 30, 2025

    Saskatchewan’s vibrant and diverse history takes center stage during the celebration of Archives Week 2025. This year, Archives Week runs from Sunday, February 2 to Saturday, February 8. This annual event shines a spotlight on the vital work of archives across the province in preserving and sharing the stories that have shaped Saskatchewan’s identity.

    “Saskatchewan’s Provincial Archives make a significant contribution to our province by maintaining the historical and cultural richness found in our communities,” Parks, Culture and Sport Minister Alana Ross said. “It is important to recognize the substantial scope and value of heritage conservation, the work undertaken leads to a deeper understanding and appreciation of our provincial identity.”

    Organized by the Saskatchewan Council for Archives and Archivists (SCAA), Archives Week 2025 features events and activities that showcase the province’s cultural and historical treasures. We are inviting the public to explore and celebrate their shared heritage.

    One highlight of this year’s celebrations is the 80th anniversary of the Provincial Archives of Saskatchewan. The Provincial Archives will host an event: The Thrill of Discovery. Taking place on Wednesday, February 5, at 7 p.m. at 2440 Broad Street in Regina, the evening will feature a presentation by renowned historian Frank Korvemaker, displays from local archives, and a new exhibit showcasing unique and fascinating records. Admission is free and refreshments will be served.

    “The Provincial Archives has been preserving Saskatchewan’s history for eight decades,” SaskBuilds and Procurement Minister David Marit said. “This event is a wonderful opportunity to celebrate our province’s past and recognize the invaluable contributions of archives in keeping our history alive.”

    SCAA has also planned a virtual video event, where institutions have submitted short video clips showcasing their successes and achievements of the past year; and also display the hard work and dedication of archivists in preserving the vibrant history of the province. These videos will be featured online each day during Archives Week and then will be made accessible to the public via the SCAA website and social media. They include virtual tours, open houses, photo exhibits, film nights and other celebrations from members such as the Archives de Bellevue, Archives of Humboldt and District Museum & Gallery, City of Saskatoon Archives, Clayton McLean Memorial Museum, Climax Community Museum, Craik Oral History, Friends of the Lloydminster Regional Archives, Grand Coteau Heritage & Cultural Centre, Melfort & District Museum, Moose Jaw Public Library, Provincial Archives of Saskatchewan, Roman Catholic Archdiocese of Regina, Saskatoon Heritage Festival and Whitewood Tourism & Heritage Association.

    “We are proud to celebrate Archives Week 2025 and look forward to hosting not only the public but also other archives in our celebration,” Provincial Archivist Carol Radford-Grant said.

    Archives Week events will take place across the province, including workshops, film screenings, and exhibits, providing opportunities for people to engage with Saskatchewan’s heritage and learn more about the work of archival institutions.

    For a full list of Archives Week 2025 events and activities, see the Provincial Archives of Saskatchewan’s News and Events page at https://www.saskarchives.com/news-and-events and visit: scaa.sk.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

    January 31, 2025
  • MIL-OSI Asia-Pac: Boundless future awaits: CE

    Source: Hong Kong Information Services

    Chief Executive John Lee

    I am delighted to join you at this fireworks extravaganza. Last night, we welcomed the Year of the Snake with a night parade. Tonight, we cheer it on with a fabulous fireworks show.

    Hong Kong, our vibrant city, is shining brighter than ever with its unique blend of Eastern and Western cultures. As we marvel with and over the dazzling pyrotechnics lighting up the skies above Victoria Harbour, let us remember that the display is more than a cheering spectacle – more importantly, every burst of colour celebrates the diversity and soaring promise of our home.

    The snake symbolises wisdom, resilience and renewal in Chinese culture. Hong Kong has long thrived on its dynamic spirit and adaptability, endlessly mingling tradition and innovation. In the Year of the Snake, Hong Kong will revitalise its strengths and boundless future.

    I invite you all to enjoy what Hong Kong has to offer in the Year of the Snake. Alongside magnificent mega events such as this evening’s, our city never fails to delight in its thriving wine and dine scene, breath-taking natural scenery, East-meets-West arts and cultural bounty, world-class sports and non-stop entertainment.

    My thanks to HSBC (The Hongkong & Shanghai Banking Corporation) for sponsoring tonight’s fireworks display. HSBC celebrates its 160th anniversary this year. My warmest congratulations on your most meaningful anniversary!

    I wish you all a very healthy and successful Year of the Snake. Enjoy the show, as we look forward to an even brighter tomorrow.

    Chief Executive John Lee gave these remarks at the 2025 Hong Kong Chinese New Year Fireworks Display on January 30.

    MIL OSI Asia Pacific News –

    January 31, 2025
  • MIL-OSI Global: Nigeria’s plastic bottle collectors turn waste into wealth: survey sheds light on their motivation

    Source: The Conversation – Africa – By Solaja Mayowa Oludele, Lecturing, Olabisi Onabanjo University

    Plastic waste in Nigeria presents a dual challenge: cleaning up environmental pollution, and tapping into its economic potential.

    Many countries worldwide face similar challenges. India, for one, has chosen policies that give producers of plastic the responsibility to manage their waste. Rwanda has banned single-use plastic and promoted recycling initiatives led by communities.

    These approaches show it’s possible to address plastic waste issues while fostering economic opportunities.




    Read more:
    Nigeria’s plastic ban: why it’s good and how it can work


    In Nigeria, informal collectors of plastic bottle waste are central to achieving both of these goals. They turn waste into monetary value.

    Previous research has highlighted the environmental and economic benefits of collecting plastic bottle waste. There’s been less attention on what shapes perceptions of waste collection as a business, particularly in Nigeria.

    This article explores that gap, looking at the socio-cultural, economic and environmental influences on those perceptions.

    I am a researcher in the areas of plastic waste management, environmental governance and sustainable development. My work includes studying homes made from recycled plastic bottles in sustainable community-based housing projects.

    Here I’ll be drawing from an exploratory survey conducted in the Ijebu area of Ogun State, Nigeria. Using a questionnaire, we surveyed 86 participants who had at least five years of experience in the plastic waste industry.

    The study identified factors like education, family size, religion, gender, age, and economic dynamics as relevant to participation in the business of plastic bottle waste collection.

    Understanding these influences might help the government to target policies.




    Read more:
    Nigeria is the world’s 2nd biggest plastic polluter: expert insights into the crisis


    Education level and information

    Our study found that participants with higher education levels better understood the economic benefits of plastic waste collection as a systematic form of business. The less educated participants viewed waste collection more as a hand-to-mouth way of earning a living.

    Education programmes built into waste management campaigns could improve recognition of waste collection as a structured and profitable business opportunity and develop a business-like culture among the collectors.

    Parenthood, family size and financial obligations

    Family size was a factor affecting perceptions of plastic bottle waste collection as a business. People with large families saw waste collection as a feasible way to provide food, housing, education and other essentials.

    However, the association of waste collection with income instability highlights the need to formalise and stabilise the sector. Waste collection must be made into a sustainable and reliable business model.

    Religion and cultural norms

    Religion and cultural beliefs emerged as influences from our survey. This was evident in the responses of people who followed African traditional religions and Islam.

    These respondents viewed waste collection as financially feasible, aligning with religious teachings that emphasise resource management and stewardship. For example, Islamic teachings on israf (avoiding wastefulness) and zakat (charity) promote efficient resource use and economic activities that benefit communities.

    Similarly, African traditional religion often emphasises communal responsibility and the sustainable use of resources. These religious principles underscore the cultural acceptance of waste collection as both a practical and a morally guided economic activity.

    Other cultural norms, such as the value placed on communal responsibility and cooperation, also influenced attitudes towards waste collection. In communities with a strong tradition of collective action, where unity and mutual support are highly valued, waste collection is often viewed as a collaborative effort.

    These cultural norms reinforce the idea that waste collection is not just an individual task, but a collective duty that benefits the entire community.




    Read more:
    Informal waste management in Lagos is big business: policies need to support the trade


    Gender dynamics

    Gender plays a role in perception and practice in waste collection. Our survey found that male participants were more likely than female participants to perceive this activity as a business.

    As constrained as they are by lack of access to resources, women are involved in separating and marketing reusable items. Measures like microfinance could increase women’s engagement and business opportunities.

    This would empower women and make waste collection a more inclusive and sustainable business.

    Age and desire to be an entrepreneur

    Perceptions were influenced by age in our study. Younger individuals, up to 14 years old, viewed plastic bottle waste collection as a gateway to employment. Adults aged 33-38 used their experience to get better returns on the business.

    This age-based distinction suggests that different stages of life bring unique motivations and approaches to waste collection.

    Policy actions that support entrepreneurship at various life stages can promote long-term engagement in the industry. This will help formalise waste collection as a sustainable and profitable business.

    Economic and social factors

    Income opportunities affected participants’ experiences more than social factors. Oftentimes, this determined how long they stayed in the business. Those earning more were likelier to reinvest and grow, while lower earnings often led to disengagement or exit. This highlights the importance of financial incentives in shaping waste collection practices.

    Social connections also play a role in fostering collaboration. It facilitates teamwork and the exchange of ideas, and creates a sense of shared purpose and collective outcomes among participants.

    Strengthening these economic and social bonds can formalise plastic bottle waste collection, making it a more efficient and profitable business.




    Read more:
    Waste disposal in Nigeria is a mess: how Lagos can take the lead in sorting and recycling


    Looking ahead

    The study has significant application to Nigeria’s waste management industry. Adding education programmes into waste management programmes will improve people’s business skills.

    Well-coordinated intervention strategies can remove cultural and gender-specific barriers. For instance, cooperatives and microfinance may make waste collection more financially appealing.

    Strategies can also draw on cultural norms to increase community acceptance of waste collection and make it more inclusive.

    Samuel Oludare Awobona, a doctoral student at Osun State University, Osogbo, Nigeria, contributed to this research.

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

    – ref. Nigeria’s plastic bottle collectors turn waste into wealth: survey sheds light on their motivation – https://theconversation.com/nigerias-plastic-bottle-collectors-turn-waste-into-wealth-survey-sheds-light-on-their-motivation-247819

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Land seizure and South Africa’s new expropriation law: scholar weighs up the act

    Source: The Conversation – Africa – By Zsa-Zsa Temmers Boggenpoel, Academic, Stellenbosch University

    South Africa has a new law to govern the expropriation (or compulsory acquisition) of private property by government for public purposes or in the public interest.

    The passing of the Expropriation Act 13 of 2024 followed a parliamentary process that began in 2020.

    The act repeals the apartheid-era Expropriation Act 63 of 1975, and aims to align expropriation law with the constitution. It sets out the procedures, rules and regulations for expropriation. Besides setting out in quite a detailed fashion how expropriations are to take place, the act also provides an outline regarding how compensation is to be determined.

    In South Africa’s colonial and apartheid past, land distribution was grossly unequal on the basis of race. The country is still suffering the effects of this. So expropriation of property is a potential tool to reduce land inequality. This has become a matter of increasing urgency. South Africans have expressed impatience with the slow pace of land reform.

    Property rights and land reform

    There is much debate in the country about the provisions of the new act. The debate is mostly about the extent to which it affects existing private property rights. Some argue the act is unconstitutional. Others welcome it as a necessary step in the right direction.

    I’m a professor of law with a keen interest in this area of the law, and recently edited a book on land expropriation in South Africa by leading experts. My view is that an expropriation act that is aligned with the constitution should be welcomed, to enable land reform to work effectively.




    Read more:
    Land reform in South Africa: what the real debate should be about


    Land reform also needs a capable and proactive state that implements the legal framework in such a manner that prioritises expropriation as a mechanism to ensure land reform.

    So far, expropriation has not been used effectively to redistribute land more equitably, as part of land reform.

    I am not convinced that the act, in its current form, is the silver bullet to effect large-scale land reform – at least not the type of radical land reform that South Africa urgently needs.

    Understandably, the act will have a severe impact on property rights. But it still substantially protects landowners affected by expropriation. Only in very limited cases would they not be compensated.

    Protections for land owners

    The act says that property must not be expropriated arbitrarily or for a purpose other than a public purpose or in the public interest.

    Public purpose means by or for the benefit of the public. For example, expropriating property to build roads, schools and hospitals. Public interest is broader and includes the nation’s commitment to land reform.

    “Arbitrary” would usually mean without reason or justification.




    Read more:
    South Africa has another go at an expropriation law. What it’s all about


    The act further requires that an expropriating authority – an organ of state or person empowered by the act or any other legislation – must first try to reach an agreement with the owner to acquire the property on reasonable terms before considering expropriation.

    This gives some power to a landowner, even though expropriation does not normally require consent. The act also says a specific expropriation must always be authorised by a law.

    No compensation?

    Section 12 of the act deals with compensation for expropriation. It is arguably the most controversial part of the new legislation. Section 12(1) does not appear to be problematic and is largely the same wording as section 25(3) of the constitution. This part of the property clause sets out what must be taken into account when compensation for expropriation is determined.

    Section 12(3) of the act refers to “nil compensation” – when nil rand (monetary) compensation may be paid. There is no explicit reference to nil compensation in the current wording of section 25 of the constitution. It’s a new thing in the Expropriation Act.

    However, courts have toyed with the idea that section 25 of the constitution already provides room for a reduction in compensation.

    The circumstances in which nil compensation could be granted in terms of the new act are in fact very limited. Section 12(3) leaves the discretion to the expropriating authority to determine when it may be just and equitable to pay nil compensation. However, the act lacks guidelines on how such a discretion must be exercised.




    Read more:
    Land is a heated issue in South Africa – the print media are presenting only one side of the story


    The scope of section 12(3) is also limited in some respects. For one, it is restricted to land. Only where land is expropriated would nil compensation be an option. Therefore, not all forms of property can be expropriated without compensation. The notion of property under section 25(1) of the constitution is generally wide and includes various rights and interests, which are broader than just land. For instance, personal rights, mineral rights and licences are included under the section 25(1) notion of property.

    This wide understanding of property is not applicable to section 12(3), which refers to “land” being expropriated.

    Section 12(3) is also limited to the expropriation of land “in the public interest”. Nil compensation is therefore envisaged only in the context of expropriation of land undertaken in the public interest, and not also for a public purpose.

    Three of the four categories listed in section 12(3), where nil compensation is envisaged, are linked to the way in which the property was being used prior to the expropriation. Land used in a productive manner is therefore not evidently envisaged under section 12(3).

    Nil compensation is not necessarily limited to the instances listed. Still, the amount of compensation must – in all instances – be just and equitable.

    Novel approach

    The act forces South Africans to engage with the idea of nil compensation in a much more direct manner.

    The presence of a clause dedicated to nil compensation provides new clarity on when this could apply.

    It is hard to determine whether this act will pass constitutional muster without seeing how expropriation under it will work in practice. It remains to be seen whether it will have the far-reaching consequences that many fear, or call for.

    Zsa-Zsa Temmers Boggenpoel 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. Land seizure and South Africa’s new expropriation law: scholar weighs up the act – https://theconversation.com/land-seizure-and-south-africas-new-expropriation-law-scholar-weighs-up-the-act-244697

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Art, music and science combine at a new whale exhibition at Winchester Cathedral

    Source: The Conversation – UK – By Ryan Reisinger, Associate Professor in Marine Biology and Ecology, University of Southampton

    University of Southampton, CC BY-NC-ND

    The nave of Winchester Cathedral in Hampshire is, until February 26 2025, home to three monumental ambassadors from the sea, sculpted by artist Tessa Campbell Fraser.

    In Campbell Fraser’s immersive art installation, three sculpted sperm whales (the largest of the toothed whales), hang from the cathedral ceiling. Toothed whales have teeth instead of the keratinous baleen that blue whales and others use to feed on tiny animals, such as krill. Sperm whales, which feed mainly on squid, are the largest predators alive today.

    Their ecology is strange, but impressive. They are socially sophisticated, massive-brained, far-wandering, deep-diving and loud. Sperm whale clicks are the loudest biologically produced sound ever recorded.

    Whales use these strange vocalisations to echolocate as they hunt for prey and to communicate to each other. In this installation, Campbell Fraser has creatively employed sperm whale clicks to vibrate paint on the banners that hang alongside the whales in the cathedral, serving as a visual representation of sperm whale “codas”. These repetitive patterns of clicks, lasting a few seconds, have intrigued researchers since they were first recorded off North Carolina, US, in the 1950s.

    We now know that groups of sperm whales are organised into “vocal clans” based on unique coda repertoires. These whale call signatures have probably been learned culturally, but scientists are yet to understand what they mean.

    While carrying out her research, Fraser Campbell referenced a multidisciplinary research collaboration that’s seeking to translate whale calls using artificial intelligence. Already, that project has discovered that sperm whale codas are far more complex than previously thought.

    The three whale sculptures (which are between three and five metres long) are made, in part, from “ghost gear” – this is abandoned, lost, and discarded fishing gear, collected at sea by British charity Ghost Fishing UK. Floating ghost gear, which includes fishing nets, can kill or entangle marine life such as whales.

    At the opening of the exhibition, Campbell Fraser recounted reports of stranded sperm whales whose stomachs were filled with plastic debris. One sperm whale that was found dead in Pas-de-Calais, France, had 25kg of debris, including nets and rope, in its stomach.

    Despite this lethal backstory, Fraser Campbell’s method of construction gives the whales an ephemerality and lightness. This seems at odds with their mass in real life, for sperm whales can weigh 45 tonnes, but it is apt considering they are nearly weightless in water. This has allowed baleen whales to evolve such massive bodies. Blue whales are the largest animals to have ever lived, despite feeding almost exclusively on tiny krill.

    These three sperm whales are on exhibition until 26 February 2025.
    The University of Southampton., CC BY-NC-ND

    Using netting in these sculptures represents, on one level, the increasing effects of humans on the ocean and whales. On another level, it hints at the long entanglement between human history and whales. Our spiritual, cultural and intellectual links with whales are represented through rich intersections of art and science.

    One famous literary example is the 1851 novel Moby Dick by Herman Melville, which artfully weaved descriptions of whale biology with the human story of pre-industrial whaling. This theme is also explored by our colleague Philip Hoare in his book Leviathan (2009).

    Unfortunately, people have negative effects on the oceans. The consequences of pollution, overfishing and climate change are widespread and increasing. Even in the furthest corners of the sea, whales may encounter humans or be affected by our influence, through climate change, noise and plastic pollution.

    Our research has shown how whale foraging areas in the remote western Antarctic peninsula overlap with an increasing fishery for Antarctic krill which now requires urgent and careful management to ensure its sustainability for people and whales.

    Through an unprecedented compilation of over 1,000 tracks from eight whale species globally, we have produced a world-first map of “whale superhighways” – the blue corridors whales use as they migrate across oceans. This map also highlights how these extensive migrations expose whales to a mosaic of threats at various scales. As a result, protecting whales requires coordinated effort at local and global scales.

    The art of acoustics

    Of course, scale is a key consideration in the design of cathedrals. Winchester is a particularly fine example – at 170m, it is the longest medieval cathedral in the world.

    On February 6, four composer-performers from the University of Southampton’s department of music will perform a specially commissioned, site-specific piece called Echolocations. The music will approach this intersection of art and scientific research from another angle, in part by responding to the expansive acoustics of the cathedral.

    Vocalist Liz Gre and pianist Ben Oliver, with live electronics performed by Pablo Galaz and Drew Crawford, will work with this acoustic to evoke the vast aquatic distances across which whales communicate. And inspired by the ghost netting in Fraser Campbell’s sculptures, the music will address the threat that ongoing human activities are having on marine ecosystems via noise pollution.

    We are polluting the oceans with plastic and sonic garbage. It sometimes seems we will be incapable of action until whale song ends up a digitally rendered collective memory.

    But this performance inspires the same qualities of imagination that enable us to conceive of building the gothic medieval wonder of the cathedral’s nave, conquer oceans to build global trade networks, mine the ocean floor and use machine learning to understand whale song. This level of imagination will be vital in creating a new set of sustainable relations with the rest of the planet.


    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.


    Ryan Reisinger receives funding from WWF and the UK Government through Darwin Plus.

    Drew Crawford 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. Art, music and science combine at a new whale exhibition at Winchester Cathedral – https://theconversation.com/art-music-and-science-combine-at-a-new-whale-exhibition-at-winchester-cathedral-248024

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Rachael Reeves’ route to economic growth is a slow one – and there are no guarantees voters will be patient enough

    Source: The Conversation – UK – By Steve Schifferes, Honorary Research Fellow, City Political Economy Research Centre, City St George’s, University of London

    Go My Media/Shutterstock

    After six months of talking down the economy and warning of tough times ahead, the UK chancellor Rachel Reeves has changed her tune. She is now much more optimistic about Britain’s economic prospects and has announced a raft of measures including major pension reforms designed to unlock cash to boost growth and productivity.

    But Labour’s political problem is that none of her plans will have an immediate impact on the UK’s anaemic growth rate – the economy has virtually flatlined for the last six months. From day one Reeves has put growth at the centre of her plans, and a lack of it will mean tough choices in the spring, when she must spell out government spending plans for the next three years.

    The government is focusing on a wide range of “supply side” reforms, including unleashing pension funds to invest in Britain, as well as relaxing the planning system and building infrastructure – many of which have an uncanny resemblance to measures once proposed by former prime minister Liz Truss.

    At the heart of these plans is a big increase in investment in infrastructure to boost productivity – things like roads, public transport and technology – where Britain lags behind its major rivals.

    But there’s a big catch. The independent spending watchdog, the Office for Budget Responsibility (OBR), estimates that it will take years – or even decades – for infrastructure projects to transform the British economy, with only a 0.1% boost in growth in the near term for every additional 1% on public investment.

    Without other measures that have a more immediate impact, the political risk to Labour is that its pledge to make everyone better off may feel hollow to voters.

    The challenges are particularly acute for big transport projects, as the debacle of HS2 illustrates. Even with changes to the planning system, work on expanding Heathrow airport is unlikely to start before 2030. And major projects like the Lower Thames crossing between Kent and Essex and the Sizewell C nuclear reactor in Suffolk have been in the planning stage for nearly 20 years.

    Electricity supply is another crucial area, with the need for more renewable energy and an expansion of the grid. This will now need to be financed largely by private capital as the government has scaled back its “green new deal”.

    So how exactly will all these big plans be financed? The government is hoping to unleash additional investment from the UK pension fund industry, by changing the rules to allow defined benefit (sometimes called final salary) schemes with surpluses to invest more widely.

    Although there is currently £160 billion available in these schemes, this could change if interest rates fall. It is also not clear how attractive such UK infrastructure investment would even be. Many projects, such as in privatised industries like water and electricity, will at least partly be funded by increased charges to consumers.

    The government’s own spending plans to increase public investment are relatively modest. These plans bring government capital spending (which allows for borrowing under the fiscal rules) just slightly above the historic average.

    Planning reform could also prove problematic. Although the government is changing some of the rules, especially in relation to housebuilding, planning decisions will be still made by local authorities. In many cases these will face strong local opposition, potentially delaying decisions.

    This points to the larger political problem for the government. The changes will not eliminate the tension between the government’s growth and environmental objectives, with the latter potentially a crucial issue in many of the marginal seats won by Labour in the last election.

    Heathrow expansion will put the government’s climate targets in serious jeopardy.
    Dinendra Haria/Shutterstock

    Prime Minister Keir Starmer has described the need to pull out the “weeds” of regulation as vital to growth plans. He has already sacked the head of the key regulatory agency, the Competition and Markets Authority. But allowing more consolidation of British industry could create monopolies, which tend to raise prices, increase profits and neglect investment.

    There are even greater concerns over possible deregulation of the financial sector, which could abolish many of the safeguards established after the global financial crisis in 2008.

    What’s missing?

    The government is much less clear on what it is going to do about the supply of skilled labour than the availability of capital. Shortages of skilled workers could limit progress on these big infrastructure projects if workers are also needed to build housing.

    Government plans for boosting skills training, and the funding for further and higher education, are still works in progress. Meanwhile, limits on immigration will reduce the number of skilled construction workers. And the details of the government’s plan to boost the labour force by getting more people on disability benefit back to work have yet to be spelled out.

    As Labour sets out its long-term growth plan, dark clouds are looming. In particular, in global terms the British economy is one of the most dependent on international trade and investment. But most of its trade is with its two largest trading partners – the EU and the USA.

    Growing protectionism in the US, coupled with a lack of access to EU markets caused by Brexit, could have a significant effect on Britain’s growth. The UK economy is projected by the IMF to grow by just 1.6% this year, which is still weak by historic standards.

    It may be of little consolation to the public if this is higher than in France and Germany. Reeves may well find that’s simply not enough to satisfy the expectations of voters.

    Steve Schifferes 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. Rachael Reeves’ route to economic growth is a slow one – and there are no guarantees voters will be patient enough – https://theconversation.com/rachael-reeves-route-to-economic-growth-is-a-slow-one-and-there-are-no-guarantees-voters-will-be-patient-enough-248690

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Will Labour’s plan for growth actually work? Two economists respond

    Source: The Conversation – UK – By Phil Tomlinson, Professor of Industrial Strategy, Co-Director Centre for Governance, Regulation and Industrial Strategy (CGR&IS), University of Bath

    Ceri Breeze/Shutterstock

    The UK chancellor Rachel Reeves says the Labour government will go “further and faster” to kick-start the British economy. Economic growth – to raise living standards and fund public services – is apparently a core mission of this government.

    Yet since the general election last July, this growth has proved elusive.

    In fairness, the UK economy been pretty stagnant for a long time. And as Reeves sometimes mentions, she arguably inherited the worst set of economic circumstances since 1974.

    Nevertheless, the government has been guilty of some major own goals. The means-testing of winter fuel payments drew derision, while the public framing of a “painful” budget in October 2024 dented business and consumer confidence.

    So after a difficult first six months in office, the chancellor’s big speech on January 29 was an opportunity for a major economic reset. And there were some signs of encouragement.

    She reaffirmed, for example, a commitment to reforming the UK’s antiquated planning laws for residential and commercial building. And there was a big emphasis on public investment, which is to rise to 2.6% of GDP over this parliament, compared to the previous government’s plans of 1.9%.

    Airport expansion at Heathrow (and to a lesser extent, Luton and Gatwick) aims to enhance global connectivity and increase trade and investment, especially with emerging economies.

    But those plans, which run counter to the government’s net zero goals, unsurprisingly sparked the ire of environmental campaigners, as well as some senior Labour MPs and party donors.

    They may also widen the UK’s regional inequalities, drawing more investment and economic activity to the south-east. The same goes for the notion of building Europe’s “Silicon Valley” between Oxford and Cambridge.

    That said, some other regions may benefit from announcements which included a £28 million investment in Cornish Metals (for materials for solar panels and wind turbines), and £63 million for advanced fuels which should bring more high-skilled jobs to areas like Teesside. There were also plans for housing and commercial redevelopment around Old Trafford in Manchester.

    Some of these projects will form part of the government’s new industrial strategy, which is expected in the spring.

    Red tape restrictions

    One word to look out for when that strategy is unveiled is “Brexit”, which continues to act as a drag on the UK’s growth. Yet in her speech, while Reeves used the “growth” word more than 50 times, she mentioned Brexit just once.

    It deserves much more attention. For investment in the UK has been lacklustre since the 2016 referendum, and research shows that post-Brexit red tape has hampered exports, especially for smaller firms. Overall, the UK’s exports of goods are down by 9% since 2020, while similar economies have seen their exports rise by 1%.

    There are government plans for more wind turbines.
    Nuttawut Uttamaharad/Shutterstock

    The chancellor has previously suggested a Brexit “reset”, and there may be a future a deal to ease some Brexit agri-food trade barriers. Reeves has also floated the possibility of the UK joining a “Pan-Euro” customs zone.

    Other moves which might help UK manufacturing include a bill that would allow the government to keep pace with new EU product safety regulations, and anything else which avoids new administrative costs for businesses.

    Yet despite the government perhaps adopting a more conciliatory tone with the EU, there are frustrations with the UK’s “red lines”, such as a refusal to agree to a scheme which would make it easier for young EU citizens to travel, work and study in the UK, and for young UK nationals to do the same in EU member states.

    Execution

    And while the chancellor’s speech highlighted the government’s long-term ambitions for growth, there was little to address current weaknesses quickly.

    For despite a change to Labour’s self-imposed fiscal rules last autumnn, the government still faces significant public borrowing constraints. This will restrict the amount of investment required to fundamentally transform public infrastructure, without major private sector support.

    And planning reforms, infrastructure projects, and new trade deals all take time and face political, legal and logistical hurdles. This will also delay growth.

    Labour’s ambitions for a more pro-growth, pro-business agenda mark a positive shift, at least in tone. But actual, visible, tangible growth depends on execution. This in turn depends on private sector money, overcoming bureaucratic hurdles, and cutting the Brexit red-tape that continues to hamper trade with the EU.

    Without effective action across the board, including immediate fiscal stimulus, the chancellor’s words may begin to sound a little hollow if the mission for growth soon starts to look like mission impossible.

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

    David Bailey receives funding from the Economic and Social Research Council’s UK in a Changing Europe Programme.

    – ref. Will Labour’s plan for growth actually work? Two economists respond – https://theconversation.com/will-labours-plan-for-growth-actually-work-two-economists-respond-248581

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Growing ‘anti-gender’ movements are trying to restrict equality and sex education in schools around the world

    Source: The Conversation – UK – By Rachel Marcus, Senior Research Fellow, Gender Equality & Social Inclusion, ODI Global

    hxdbzxy/Shutterstock

    The start of a new Trump presidency in the US may well signal the introduction of policies that limit the knowledge children can access in schools.

    Already, districts in states across the US are able to ban books from schools and libraries, often on topics such as race and LGBTQ+ identities. And during the presidential campaign, Trump said that he would withhold federal funding from schools that “recognise transgender identities”.

    But these kinds of limits on education are not only present in the US. Across the world, there are concerted efforts to control who can access education and what children can learn in schools.

    “Anti-gender” movements reject the social changes that come from an increase in rights for women and LGBTQI+ people. They promote a social order based on patriarchal gender norms, heterosexual marriage and a binary understanding of gender. They target schools because education has unique potential to influence social norms and attitudes for the long term.

    These movements are funded largely by conservative foundations and individuals, largely in the US and Europe. They work together to disrupt children’s educational opportunities and undermine gender equality in the global south, particularly Africa and Latin America.

    My report, co-written with colleagues from the thinktank ODI Global, has found that this is an accelerating and well-funded trend. But it can be countered, including through the use of legislation that upholds human rights. Understanding the nature of these movements and how to counter them is vital to protect all children’s rights to a quality education.

    Global reach

    In the last decade, these movements have become greatly influential. They are global in reach and include politicians, foundations, think-tanks, media ecosystems, religious institutions and grassroots civil society.

    One such group, for instance, is the multi-lingual online platform CitizenGO. It mobilises people to sign petitions and engage in letter-writing campaigns to influence policy both at national and global levels.

    In 2017 CitizenGo sponsored an orange “anti-trans” bus that travelled through Europe and the Americas. Though the organisation boasts that it is funded by small donations, investigative research indicates it likely received seed funding from religious and far-right sources in Russia and western Europe.

    Between 2008 to 2017, the aggregate revenue of US-based organisations linked to the anti-gender movement amounted to US$6.2 billion (£5 billion) according to research from the Global Philanthropy Project, a group of funders aiming to advance LGBTI+ rights. Over this same period, 11 US-based organisations funnelled at least US$1 billion to like-minded organisations abroad.

    In schools, these movements focus on amplifying and manufacturing outrage around comprehensive sexuality education.

    Stifling sex education

    Comprehensive sex education has been developed to provide young people with age-appropriate and accurate information about sex, relationships, and bodily changes. It has been proven to help reduce teenage pregnancy and encourage safer, more equal sexual relationships. But it has become a lightning rod for the movement to generate fear, backlash and ignite parental protests in places as diverse as South Africa, Peru and Ghana.

    Anti-comprehensive sexuality education campaigns frame this educational content as inappropriate. They advocate for sex education based solely on “biological facts” or the promotion of abstinence.

    They present the discussion of topics such as consent and bodily autonomy, or information on contraception and safe sex practices, as likely to encourage sexual experimentation and teenage pregnancy. This is despite as decades of evidence showing that the opposite is true.

    In Peru, for example, the Con Mis Hijos No Te Metas (Don’t Mess with My Kids) movement started as a parental movement protesting against inclusion of gender equality material in the basic education curriculum. The movement’s campaigns have spread to oppose comprehensive sexuality education in countries including Argentina, Brazil, Chile, Colombia and Mexico.

    Students head to school in Rio de Janeiro, Brazil.
    A. M. Teixeira/Shutterstock

    With long-term flexible funding, the anti-gender movement can respond to emerging policies and situations. It can wage long-term campaigns to shift norms and policies.

    In regions such as Africa and Latin America, one of the most successful tactics has been to deploy anti-colonial language. This includes painting comprehensive sexuality education or acceptance of homosexuality as being imposed by “the west”.

    However, funding from conservative US and European foundations designed to entrench certain gender norms and forms of sexual morality in Latin America and Africa can equally be considered as a form of neo-colonialism. Between 2007 and 2020, over US$54 million was spent on the African continent by US-based Christian groups, supporting campaigns against LGBTQ+ rights and comprehensive sexuality education.

    Another key tactic is the dissemination of misinformation, exploiting parental anxieties and fears. These include exaggerated claims that often bear little relation to the actual content of curricula and learning materials.

    However, our research has found that in countries where legal frameworks and systems uphold human rights, legal action can protect access to a full and effective education.

    For example, strategic litigation has overturned state laws in Mexico and Brazil that restricted sexuality education. Legal approaches have also ended policies that banned adolescent mothers from returning to school in Sierra Leone.

    Countering misinformation about what is taught in schools is vital. This can involve sharing accurate information about topics such as sexuality education with parents, and usually works best as part of a face-to-face dialogue.

    CitizenGO have not responded to a request for comment.

    This research was funded by a grant to ODI Global from Global Affairs Canada.

    – ref. Growing ‘anti-gender’ movements are trying to restrict equality and sex education in schools around the world – https://theconversation.com/growing-anti-gender-movements-are-trying-to-restrict-equality-and-sex-education-in-schools-around-the-world-248071

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: How nonprofits abroad can fill gaps when the US government cuts off foreign aid

    Source: The Conversation – USA – By Susan Appe, Associate Professor of Public Administration and Policy, University at Albany, State University of New York

    The U.S. Agency for International Development distributes a lot of foreign aid through local partners in other countries. J. David Ake/Getty Images

    The U.S. government gives other nations US$68 billion of foreign assistance annually – more than any other country. Over half of this sum is managed by the U.S. Agency for International Development, including funds for programs aimed at fighting hunger and disease outbreaks, providing humanitarian relief in war zones, and supporting other lifesaving programs such as the President’s Emergency Plan for AIDS Relief.

    President Donald Trump suspended most U.S. foreign aid on Jan. 20, 2025, the day he took office for the second time. The next day, Secretary of State Marco Rubio issued a stop-work order that for 90 days halted foreign aid funding disbursements by agencies like USAID.

    A week later, dozens of senior USAID officials were put on leave after the Trump administration reportedly accused them of trying to “circumvent” the aid freeze. The Office of Management and Budget is now pausing and evaluating all foreign aid to see whether it adheres to the Trump administration’s policies and priorities.

    I’m a scholar of foreign aid who researches what happens to the U.S. government’s local partners in the countries receiving this assistance when funding flows are interrupted. Most of these partners are local nonprofits that build schools, vaccinate children, respond to emergencies and provide other key goods and services. These organizations often rely on foreign funding.

    A ‘reckless’ move

    Aid to Egypt and Israel was spared, along with some emergency food aid. The U.S. later waived the stop-work order for the distribution of lifesaving medicines.

    Nearly all of the other aid programs remained on hold as of Jan. 29, 2025.

    Many development professionals criticized the freeze, highlighting the disruption it will cause in many countries. A senior USAID official issued an anonymous statement calling it “reckless.”

    InterAction, the largest coalition of international nongovernmental organizations in the U.S., called the halt contrary to U.S. global leadership and values.

    Of the $35 billion to $40 billion in aid that USAID distributes annually, $22 billion is delivered through grants and contracts with international organizations to implement programs. These can be further subcontracted to local partners in recipient countries.

    When this aid is frozen, scaled back or cut off altogether, these local partners scramble to fill in the gaps.

    The State Department manages the rest of the $68 billion in annual U.S. foreign aid, along with other agencies, such as the Peace Corps.

    The start of Marco Rubio’s tenure as U.S. secretary of state was marked by chaos and confusion regarding foreign aid flows.
    Kevin Dietsch/Getty Images

    How local nonprofits respond and adapt

    While sudden disruptions to foreign aid are always destabilizing, research shows that aid flows have fluctuated since 1960, growing more volatile over the years. My research partners and I have found that these disruptions harm local service providers, although many of them manage to carry on their work.

    Over the years, I have conducted hundreds of interviews with international nongovernmental organizations and these nonprofits’ local partners across Latin America, Africa and Asia about their services and funding sources. I study the strategies those development and humanitarian assistance groups follow when aid gets halted. These four are the most common.

    1. Shift to national or local government funding

    In many cases, national and local governments end up supporting groups that previously relied on foreign aid, filling the void.

    An educational program spearheaded by a local Ecuadorian nonprofit, Desarrollo y Autogestión, called Accelerated Basic Cycle is one example. This program targets young people who have been out of school for more than three years. It allows them to finish elementary school – known as the “basic cycle” in Ecuador – in one year to then enter high school. First supported in part by funding from foreign governments, it transitioned to being fully funded by Ecuador’s government and then became an official government program run by the country’s ministry of education.

    2. Earn income

    Local nonprofits can also earn income by charging fees for their services or selling goods, which allows them to fulfill their missions while generating some much-needed cash.

    For example, SEND Ghana is a development organization that has promoted good governance and equality in Ghana since its founding in 1998. In 2009, SEND Ghana created a for-profit subsidiary called SENDFiNGO that administers microfinance programs and credit unions. That subsidiary now helps fund SEND Ghana’s work.

    Bangladesh Rural Advancement Committee and the Grameen Bank, which is also in Bangladesh, use this approach too.

    3. Tap local philanthropy

    Networks such as Worldwide Initiatives for Grantmaker Support and Global Fund for Community Foundations have emerged to promote local philanthropy around the world. They press governments to adopt policies that encourage local philanthropy. This kind of giving has become easier to do thanks to the emergence of crowdfunding platforms.

    Still, complex tax systems and the lack of incentives for giving in many countries that receive foreign aid are persistent challenges. Some governments have stepped in. India’s corporate social responsibility law, enacted in 2014, boosted charitable incentives. For example, it requires 2% of corporate profits to go to social initiatives in India.

    4. Obtain support from diaspora communities

    Diasporas are people who live outside of their countries of origin, or where their families came from, but maintain strong ties to places they consider to be their homeland.

    Local nonprofits around the globe are leveraging diaspora communities’ desire to contribute to economic development in their countries of origin. In Colombia, for example, Fundación Carla Cristina, a nongovernmental organization, runs nursery schools and provides meals to low-income children.

    It gets some of its funding from diaspora-led nonprofits in the U.S., such as the New England Association for Colombian Children, which is based outside of Boston, and Give To Colombia in Miami.

    A push for the locals to do more

    Trump’s stop-work order coincided with a resurgence of a localization push that’s currently influencing foreign aid from many countries.

    With localization, nations providing foreign aid seek to increase the role of local authorities and organizations in development and humanitarian assistance. USAID has been a leading proponent of localization.

    I believe that the abruptness of the stop-work order is likely to disrupt many development projects. These projects include support to Ukrainian aid groups that provide emergency humanitarian assistance and projects serving meals to children who don’t get enough to eat.

    To be sure, sometimes there are good reasons for aid to be halted. But when that happens, sound and responsible donor exit strategies are essential to avoid the loss of important local services.

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

    – ref. How nonprofits abroad can fill gaps when the US government cuts off foreign aid – https://theconversation.com/how-nonprofits-abroad-can-fill-gaps-when-the-us-government-cuts-off-foreign-aid-248378

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI United Kingdom: Derby City Lab to move into newly redeveloped Market Hall

    Source: City of Derby

    The national award-winning Derby City Lab will soon have a new home in the redeveloped Derby Market Hall, following an announcement made at Marketing Derby’s Annual Business Event.

    The new move will see the City Lab continue its role as a hub for community engagement and innovation from the Market Hall which is due to open in spring this year after undergoing a major transformation. 

    Derby City Lab was created in 2022 and was based in St James’s St at the heart of the city’s regeneration frontline and in 2024, it moved to a new location in the Derbion shopping centre. 

    The Lab is a hub for engaging the community in better understanding the evolution of the city. Visitors can find out about how the city centre is changing, explore the City Living Room which showcases Derby’s 300-year history of innovation, and view a range of exhibitions focused on ideas to regenerate Derby, including the University of Derby’s futuristic Derby Urban Sustainable Transition (DUST) vision.

    Nadine Peatfield, Leader of Derby City Council, said:

    Derby City Lab has been integral in helping citizens and stakeholders to understand and shape the city centre’s transformation. I’m delighted to see that it will be moving into Derby Market Hall. It is central to our regeneration plans – reimagining our city centre with culture at its heart and making a better-connected, sustainable city for the future.

    Derby City Lab will continue to provide a space where residents and visitors can learn more about the city centre’s ongoing regeneration and share their views on future plans. We are committed to engaging with residents in innovative ways and the Lab plays a big part in that. I am so excited for the opening of Derby Market Hall and am thrilled to welcome Derby City Lab to their new home.

    John Forkin, Managing Director of Marketing Derby said:

    The Derby City Lab is a unique innovation in the UK – a genuine attempt to engage local people in the shaping of their city. Last week, we welcomed our 15,000th visitor and are excited to become part of the rediscovery of the wonderful Derby Market Hall.

    Derby Market Hall redevelopment is a £31.5m project part funded with £9.43m from the Government’s Future High Street Fund (FHSF). It is in the second phase of the transformation, focusing on refurbishing the interior and developing the public space outside at Osnabruck Square.

    Located at the heart of the city centre, linking Derbion and St Peter’s Quarter with the Cathedral Quarter and Becketwell, the new Market Hall will play a key role in widening the diversity of the city centre and will generate £3.64m for the local economy every year. 

    Based on concepts in Shanghai and Amsterdam, the Derby City Lab is an initiative of Marketing Derby, the Queen’s Award-winning inward investment agency for Derby together with partners including Clowes Developments, the Derbion, Lathams, the University of Derby and Derby City Council. The Lab won the Estates Gazette award as the Best Public-Private Partnership in the UK. 

    MIL OSI United Kingdom –

    January 31, 2025
  • MIL-OSI: Truxton Corporation Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    NASHVILLE, Tenn., Jan. 30, 2025 (GLOBE NEWSWIRE) — Truxton Corporation, the parent company for Truxton Trust Company (“Truxton” or “the Bank”) and subsidiaries, announced its operating results for the quarter ended December 31, 2024. Fourth quarter net income attributable to common shareholders was $4.99 million, or $1.74 per diluted share, compared to $4.23 million, or $1.46 per diluted share, for the same quarter in 2023.

    For the year ended December 31, 2024, net income increased by 5% to $18.4 million from $17.5 million in 2023. For the year ended December 31, 2024, earnings per diluted share rose to $6.34 from $6.02, an increase of 5% from 2023.

    “Truxton grew earnings again in 2024, despite the headwinds of mostly one-time expenses related to our technology and physical office upgrades,” said Truxton Chairman Tom Stumb. “Net Interest Income grew 7% and Wealth revenue increased 17% year-over-year, and we believe we are positioned well for 2025. Truxton continues to succeed as we drive successful outcomes for our clients through our dedication to service and sophisticated, sage advice.”

    Key Highlights

    • Non-interest income was $5.7 million in the fourth quarter of 2024, which was $173 thousand higher than the third quarter of 2024 and $1.4 million over the fourth quarter of 2023. Excluding gains and losses on the sale of securities, Wealth revenue constituted 90% of non-interest income in the fourth quarter of 2024, compared to 95% for the third quarter of 2024 and to 94% for fourth quarter of 2023. Other non-interest income was elevated due to a large non-recurring payment from an SBIC fund in which we are invested.
    • Non-interest expense was $230 thousand lower in the fourth quarter of 2024 compared to the third, driven largely by the timing of certain expense accruals and a refund of some costs related to our bank technology upgrade recognized in the third quarter.
    • Loans increased 1% to $670 million at quarter end compared to $665 million at September 30, 2024, and were up 2% compared to $658 million at December 31, 2023.
    • Total deposits decreased by 3% from $889 million at September 30, 2024, to $866 million at December 31, 2024, and were 11% higher in comparison to $782 million at December 31, 2023. Truxton continues to fund its growth from a single banking location led by its commitment to provide what it believes is superior deposit operations service and technology.
    • Asset quality remains sound at Truxton. The Bank had $11 thousand of non-performing assets at December 31, 2024. Truxton had $4 thousand in charge-offs in the fourth quarter of 2024, $9 thousand in the trailing quarter, and $8 thousand of recoveries in the fourth quarter of 2023.
    • Net interest margin for the fourth quarter of 2024 was 2.79%, an increase of 10 basis points from the 2.69% experienced in the quarter ended September 30, 2024, and an increase of 1 basis point from the 2.78% recorded in the quarter ended December 31, 2023. Cost of funds was 3.08% in the fourth quarter of 2024, down from 3.48% in the third quarter of 2024, and 3.15% in the fourth quarter of 2023.
    • Allowance for credit losses, excluding that for unfunded commitments, was $6.4 million at quarter end December 31, 2024, compared to $6.4 million at September 30, 2024, and $6.3 million at December 31, 2023. For those three periods, such allowance amounts were each 0.96% of gross loans outstanding at each period end. For the same three periods, the Bank’s allowance for unfunded commitments was $483 thousand, $409 thousand, and $412 thousand, respectively.
    • The Bank’s capital position remains strong. Its Tier 1 leverage ratio was 10.63% at December 31, 2024, compared to 10.46% at September 30, 2024, and 10.53% at December 31, 2023. Book value per common share was $34.42, $33.30, and $30.31 at December 31, 2024, September 30, 2024, and December 31, 2023, respectively.
    • During the twelve months ended December 31, 2024, Truxton Corporation paid dividends of $2.72 per common share, inclusive of a $1.00 special cash dividend, and repurchased 62,382 shares of its common stock for $4.2 million in the aggregate, or an average price of $66.97 per share.

    About Truxton
    Truxton is a premier provider of wealth, banking, and family office services for wealthy individuals, their families, and their business interests. Serving clients across the world, Truxton’s vastly experienced team of professionals provides customized solutions to its clients’ complex financial needs. Founded in 2004 in Nashville, Tennessee, Truxton upholds its original guiding principle: do the right thing. Truxton Trust Company is a subsidiary of financial holding company, Truxton Corporation (OTCPK: TRUX). For more information, visit truxtontrust.com.

    Investor Relations   Media Relations
    Austin Branstetter   Swan Burrus
    615-250-0783   615-250-0773
    austin.branstetter@truxtontrust.com   swan.burrus@truxtontrust.com
    Truxton Corporation
    Consolidated Balance Sheets
    (000’s)
    (Unaudited)
           
      December 31,
    2024*
    September 30,
    2024*
    December 31,
    2023*
    ASSETS      
    Cash and due from financial institutions $ 4,225   $ 5,499   $ 4,272  
    Interest bearing deposits in other financial institutions   25,698     24,678     3,417  
    Federal funds sold   4,054     4,816     1,537  
    Cash and cash equivalents   33,977     34,993     9,226  
           
    Time deposits in other financial institutions   245     245     490  
    Securities available for sale   258,322     295,905     259,926  
           
    Gross loans, excluding Paycheck Protection Program   669,962     664,630     657,811  
    Allowance for credit losses   (6,433 )   (6,358 )   (6,304 )
    Paycheck Protection Program Loans   20     27     29  
    Net loans   663,549     658,299     651,536  
           
    Bank owned life insurance   16,722     16,602     10,808  
    Restricted equity securities   2,272     2,261     1,858  
    Premises and equipment, net   3,293     3,328     189  
    Accrued interest receivable   4,567     4,954     4,388  
    Deferred tax asset, net   5,257     4,649     6,010  
    Other assets   15,577     14,017     10,839  
           
    Total assets $ 1,003,781   $ 1,035,253   $ 955,270  
           
           
    LIABILITIES AND SHAREHOLDERS’ EQUITY      
    Deposits      
    Non-interest bearing $ 126,016   $ 116,149   $ 123,918  
    Interest bearing $ 740,406   $ 772,612   $ 658,061  
    Total deposits   866,422     888,761     781,979  
           
    Federal funds purchased   –     –     –  
    Swap counterparty cash collateral   4,230     1,890     4,060  
    Federal Home Loan Bank advances   8,250     13,250     4,500  
    Federal Reserve Bank Term Funding Program advances   –     10,000     53,800  
    Subordinated debt   14,426     14,401     14,327  
    Other liabilities   11,747     11,405     8,922  
    Total liabilities   905,075     939,707     867,588  
           
    SHAREHOLDERS’ EQUITY      
    Common stock, $0.10 par value $ 286   $ 285   $ 289  
    Additional paid-in capital   28,945     28,729     31,457  
    Retained earnings   61,316     62,548     51,679  
    Accumulated other comprehensive income (loss)   (10,252 )   (9,434 )   (13,279 )
    Net Income $ 18,411   $ 13,418   $ 17,536  
    Total shareholders’ equity   98,706     95,546     87,682  
           
    Total liabilities and shareholders’ equity $ 1,003,781   $ 1,035,253   $ 955,270  
           
           
    *The information is preliminary, unaudited and based on company data available at the time of presentation.
           
    Truxton Corporation
    Consolidated Statements of Net Income
    (000’s)
    (Unaudited)
                       
      Three Months Ended   Year To Date
      December 31,
    2024*
      September 30,
    2024*
      December 31,
    2023*
      December 31,
    2024*
      December 31,
    2023*
    Non-interest income                  
    Wealth management services $ 5,242     $ 5,267   $ 4,435     $ 20,597     $ 17,657  
    Service charges on deposit accounts   85       92     111       360       461  
    Securities gains (losses), net   (122 )     0     (445 )     (335 )     (386 )
    Bank owned life insurance income   124       90     56       333       216  
    Other   391       98     115       1,164       524  
    Total non-interest income   5,720         5,547     4,272         22,119         18,472  
                       
    Interest income                  
    Loans, including fees $ 10,354     $ 10,654   $ 10,495     $ 41,721     $ 37,804  
    Taxable securities   3,039       3,361     2,554       11,932       9,350  
    Tax-exempt securities   217       222     210       834       876  
    Interest bearing deposits   348       488     198       1,475       695  
    Federal funds sold   75       113     41       288       101  
    Total interest income   14,033         14,838     13,498         56,250         48,826  
                       
    Interest expense                  
    Deposits   6,798       7,667     6,048       27,854       20,881  
    Short-term borrowings   90       260     685       1,294       2,154  
    Long-term borrowings   85       51     23       164       490  
    Subordinated debentures   188       188     187       752       771  
    Total interest expense   7,161         8,166     6,943         30,064         24,296  
                       
    Net interest income   6,872         6,672     6,555         26,186         24,530  
                       
    Provision for credit losses   145       105     215       217       296  
                       
    Net interest income after provision for loan losses   6,727         6,567     6,340         25,969         24,234  
                       
    Total revenue, net   12,447         12,114     10,612         48,088         42,706  
                       
    Non interest expense                  
    Salaries and employee benefits   4,635       4,044     3,563       16,652       14,810  
    Occupancy   326       315     272       1,578       1,185  
    Furniture and equipment   107       115     24       300       76  
    Data processing   282       625     389       1,763       1,703  
    Wealth management processing fees   195       221     166       838       729  
    Advertising and public relations   96       27     109       206       248  
    Professional services   247       609     285       1,337       941  
    FDIC insurance assessments   33       80     225       423       460  
    Other   291       406     322       2,024       901  
    Total non interest expense   6,212         6,442     5,355         25,121         21,053  
                       
    Income before income taxes   6,235         5,672     5,257         22,967         21,653  
                       
    Income tax expense   1,242       1,102     1,028       4,556       4,117  
                       
    Net income $ 4,993       $ 4,570     $ 4,229       $ 18,411       $ 17,536  
                       
    Earnings per share:                  
    Basic $ 1.74     $ 1.58   $ 1.46     $ 6.35     $ 6.04  
    Diluted $ 1.74     $ 1.57   $ 1.46     $ 6.34     $ 6.02  
             
    *The information is preliminary, unaudited and based on company data available at the time of presentation. Totals may not foot due to rounding.        
             
    Truxton Corporation  
    Selected Quarterly Financial data  
    At Or For The Three Months Ended  
    (000’s)  
    (Unaudited)  
             
      December 31,
    2024*
    September 30,
    2024*
    December 31,
    2023*
     
             
    Per Common Share Data        
    Net income attributable to common shareholders, per share        
    Basic $1.74   $1.58   $1.46    
    Diluted $1.74   $1.57   $1.46    
    Book value per common share $34.42   $33.30   $30.31    
    Tangible book value per common share $34.42   $33.30   $30.31    
    Basic weighted average common shares 2,787,805   2,819,035   2,821,846    
    Diluted weighted average common shares 2,792,363   2,823,728   2,828,274    
    Common shares outstanding at period end 2,867,850   2,869,015   2,893,064    
             
             
    Selected Balance Sheet Data        
    Tangible common equity (TCE) ratio 9.83%   9.23%   9.18%    
    Average Loans $667,957   $652,624   $653,804    
    Average earning assets (1) $998,861   $1,006,370   $956,793    
    Average total assets $1,025,415   $1,029,802   $960,852    
    Average shareholders’ equity $97,026   $94,225   $81,759    
             
             
    Selected Asset Quality Measures        
    Nonaccrual loans $0   $0   $0    
    90+ days past due still accruing $11   $11   $0    
    Total nonperforming loans $11   $11   $0    
    Total nonperforming assets $11   $11   $0    
    Net charge offs (recoveries) $4   $9   ($8)    
    Nonperforming loans to assets 0.00%   0.00%   0.00%    
    Nonperforming assets to total assets 0.00%   0.00%   0.00%    
    Nonperforming assets to total loans and other real estate 0.00%   0.00%   0.00%    
    Allowance for credit losses to total loans 0.96%   0.96%   0.96%    
    Net charge offs to average loans 0.00%   0.00%   0.00%    
             
             
    Capital Ratios (Bank Subsidiary Only)        
    Tier 1 leverage 10.63%   10.46%   10.53%    
    Common equity tier 1 15.19%   15.17%   14.58%    
    Total risk-based capital 16.15%   16.11%   15.53%    
             
    Selected Performance Ratios        
    Efficiency ratio 48.45%   52.72%   47.07%    
    Return on average assets (ROA) 1.94%   1.77%   1.75%    
    Return on average shareholders’ equity (ROE) 20.47%   19.29%   20.52%    
    Return on average tangible common equity (ROTCE) 20.47%   19.29%   20.52%    
    Net interest margin 2.79%   2.69%   2.78%    
             
    *The information is preliminary, unaudited and based on company data available at the time of presentation.  
    (1) Average earning assets is the daily average of earning assets. Earning assets consists of loans, mortgage loans held for sale, federal funds sold, deposits with banks, and investment securities.  
             
    Truxton Corporation  
    Yield Tables  
    For The Periods Indicated  
    (000’s)  
    (Unaudited)  
                                   
    The following table sets forth the amount of our average balances, interest income or interest expense for each category of interest earning assets and interest bearing liabilities and the average interest rate for interest earning assets and interest bearing liabilities, net interest spread and net interest margin for the periods indicated below:  
     
     
      Three Months Ended   Three Months Ended   Three Months Ended  
      December 31, 2024*   September 30, 2024*   December 31, 2023*  
                                   
      Average
    Balances
    Rates/
    Yields (%)
      Interest
    Income/
    Expense
      Average
    Balances
    Rates/
    Yields (%)
      Interest
    Income/
    Expense
      Average
    Balances
    Rates/
    Yields (%)
      Interest
    Income/
    Expense
     
                                   
    Earning Assets                              
    Loans $667,957   6.08   $10,215   $652,624   6.41   $10,520   $653,804   6.18   $10,183  
    Loan fees $0   0.09   $146   $0   0.08   $134   $0   0.19   $312  
    Loans with fees   667,957   6.17   $10,361     652,624   6.49   $10,654   $653,804   6.37   $10,495  
    Mortgage loans held for sale $0   0.00   $0   $0   0.00   $0   $0   0.00   $0  
    Federal funds sold $6,232   4.71   $75   $8,367   5.28   $113   $2,985   5.41   $41  
    Deposits with banks $28,570   4.85   $348   $35,784   5.43   $488   $14,240   5.51   $198  
    Investment securities – taxable $260,605   4.66   $3,039   $273,488   4.92   $3,361   $248,778   4.11   $2,554  
    Investment securities – tax-exempt $35,497   3.65   $217   $36,107   3.67   $222   $36,986   3.39   $210  
    Total Earning Assets $998,861   5.64   $14,040   $1,006,370   5.92   $14,838   $956,793   5.65   $13,498  
    Non interest earning assets                              
    Allowance for loan losses   (6,359)             (6,224)             (6,123)          
    Cash and due from banks $5,985           $6,529           $5,402          
    Premises and equipment $3,305           $3,370           $119          
    Accrued interest receivable $3,721           $3,746           $3,575          
    Other real estate $0           $0           $0          
    Other assets $36,453           $34,150           $30,404          
    Unrealized gain (loss) on inv. securities   (16,551)             (18,139)             (29,318)          
    Total Assets $1,025,415           $1,029,802           $960,852          
    Interest bearing liabilities                              
    Interest bearing demand $329,625   3.26   $2,703   $333,177   3.60   $3,018   $345,966   3.42   $2,984  
    Savings and money market $200,257   2.83   $1,427   $195,751   3.60   $1,773   $138,244   2.95   $1,027  
    Time deposits – retail $13,170   3.39   $112   $13,505   3.40   $115   $16,343   3.18   $131  
    Time deposits – wholesale $228,144   4.46   $2,556   $226,673   4.85   $2,761   $165,756   4.56   $1,906  
    Total interest bearing deposits $771,196   3.51   $6,798   $769,106   3.97   $7,667   $666,309   3.6   $6,048  
    Federal Home Loan Bank advances $9,554   3.48   $85   $5,728   3.50   $51   $4,500   1.98   $23  
    Subordinated debt $14,520   5.08   $188   $14,656   4.53   $188   $14,422   5.08   $187  
    Other borrowings $12,369   4.04   $90   $24,011   4.22   $259   $60,859   4.39   $685  
    Total borrowed funds $36,443   3.90   $363   $44,395   4.40   $499   $79,781   4.39   $895  
    Total interest bearing liabilities $807,639   3.52   $7,161   $813,501   3.99   $8,166   $746,090   3.69   $6,943  
    Net interest rate spread   2.12   $6,879     1.93   $6,672     1.96   $6,555  
    Non-interest bearing deposits $115,593           $118,216           $126,534          
    Other liabilities $5,157           $3,860           $6,469          
    Shareholder’s equity $97,026           $94,225           $81,759          
    Total Liabilities and Shareholder’s Equity $1,025,415           $1,029,802           $960,852          
    Cost of funds   3.08         3.48         3.15      
    Net interest margin   2.79         2.69         2.78      
                                   
               
    *The information is preliminary, unaudited and based on company data available at the time of presentation. Totals may not foot due to rounding.          
                                   
    Yield Table Assumptions – Average loan balances are inclusive of nonperforming loans. Yields computed on tax-exempt instruments are on a tax equivalent basis. Net interest spread is calculated as the yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. Net interest margin is the result of net interest income calculated on a tax-equivalent basis divided by average interest earning assets for the period. Changes in net interest income are attributed to either changes in average balances (volume change) or changes in average rates (rate change) for earning assets and sources of funds on which interest is received or paid. Volume change is calculated as change in volume times the previous rate while rate change is change in rate times the previous volume. Changes not due solely to volume or rate changes are allocated to volume change and rate change in proportion to the relationship of the absolute dollar amounts of the change in each category.
    Truxton Corporation  
    Yield Tables  
    For The Periods Indicated  
    (000’s)  
    (Unaudited)  
    The following table sets forth the amount of our average balances, interest income or interest expense for each category of interest earning assets and interest bearing liabilities and the average interest rate for interest earning assets and interest bearing liabilities, net interest spread and net interest margin for the periods indicated below:  
     
     
      Twelve Months Ended     Twelve Months Ended    
      December 31, 2024*     December 31, 2023*    
      Average
    Balances
    Rates/
    Yields (%)
      Interest
    Income/
    Expense
        Average
    Balances
    Rates/
    Yields (%)
      Interest
    Income/
    Expense
       
                             
    Earning Assets                        
    Loans $658,226   6.28   $41,328     $635,059   5.85   $37,150    
    Loan fees $0   0.08   $504     $0   0.10   $654    
    Loans with fees $658,226   6.36   $41,832     $635,059   5.95   $37,804    
    Mortgage loans held for sale $0   0.00   $0     $0   0.00   $0    
    Federal funds sold $5,592   5.08   $289     $1,907   5.21   $101    
    Deposits with banks $27,967   5.27   $1,475     $13,711   5.07   $695    
    Investment securities – taxable $259,313   4.6   $11,931     $247,483   3.78   $9,350    
    Investment securities – tax-exempt $34,867   3.57   $834     $38,410   3.40   $876    
    Total Earning Assets $985,965   5.76   $56,361     $936,570   5.26   $48,826    
    Non interest earning assets                        
    Allowance for loan losses   (6,299)               (6,087)            
    Cash and due from banks $6,161               5,960            
    Premises and equipment $2,662             $154            
    Accrued interest receivable $3,730             $3,271            
    Other real estate $0             $0            
    Other assets $33,513             $29,175            
    Unrealized gain (loss) on inv. securities   (19,553)               (26,891)            
    Total Assets $1,006,179             $942,152            
    Interest bearing liabilities                        
    Interest bearing demand $333,322   3.5   $11,681     $351,956   3.20   $11,247    
    Savings and Money Market $183,557   3.33   $6,121     $134,518   2.50   $3,368    
    Time deposits – Retail $14,275   3.41   $486     $17,168   2.53   $435    
    Time Deposits – Wholesale $207,457   4.61   $9,566     $143,922   4.05   $5,832    
    Total interest bearing deposits $738,611   3.77   $27,854     $647,564   3.22   $20,882    
    Federal home Loan Bank advances $5,476   2.95   $164     $12,355   3.91   $490    
    Subordinated debt $14,565   5.08   $752     $14,831   5.12   $771    
    Other borrowings $31,032   4.41   $1,294     $47,985   4.42   $2,153    
    Total borrowed funds $51,073   4.26   $2,210     $75,171   4.48   $3,414    
    Total interest bearing liabilities $789,685   3.80   $30,064     $722,735   3.36   $24,296    
    Net interest rate spread   1.95   $26,297       1.90   $24,530    
    Non-interest bearing deposits $119,150             $135,909            
    Other liabilities $4,424             $4,810            
    Shareholder’s equity $92,920             $78,619            
    Total Liabilities and Shareholder’s Equity $1,006,179             $942,073            
    Cost of funds   3.30           2.82        
    Net interest margin   2.71           2.67        
                             
    *The information is preliminary, unaudited and based on company data available at the time of presentation.          
     
    Yield Table Assumptions – Average loan balances are inclusive of nonperforming loans. Yields computed on tax-exempt instruments are on a tax equivalent basis. Net interest spread is calculated as the yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. Net interest margin is the result of net interest income calculated on a tax-equivalent basis divided by average interest earning assets for the period. Changes in net interest income are attributed to either changes in average balances (volume change) or changes in average rates (rate change) for earning assets and sources of funds on which interest is received or paid. Volume change is calculated as change in volume times the previous rate while rate change is change in rate times the previous volume. Changes not due solely to volume or rate changes are allocated to volume change and rate change in proportion to the relationship of the absolute dollar amounts of the change in each category.
     

    The MIL Network –

    January 31, 2025
  • MIL-OSI: Global Drug Screening Market Is Forecasted to Reach $19.5 Billion By 2029

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Jan. 30, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Due to the expanding consumption of illicit drugs & alcohol across the globe the Drug Screening market is poised to grow substantially in the coming years. Drug abuse and alcohol consumption are growing worldwide. According to the World Drug Report 2023, in 2021, 1 in every 17 people aged 15–64 in the world had used a drug in the past 12 months. The number of users grew from 240 million in 2011 to 296 million in 2021 or 5.8% of the global population aged 15-64. This is a 23% increase, partly due to population growth. Other drugs like Cannabis the second most used drug, with an estimated 219 million users i.e. 4.3% of the global adult population in 2021. In 2021, according to the US Department of Transportation, National Highway Traffic Safety Administration (NHTSA), 13,384 people died in alcohol-impaired driving crashes, i.e. a 14% rise from last year. A report from MarketsAndMarkets projected that: “The global drug screening market, valued at US$7.7 billion in 2023, is forecasted to grow at a robust CAGR of 16.6%, reaching US$9.1 billion in 2024 and an impressive US$19.5 billion by 2029.North America dominates the drug screening market. This market is projected to reach USD 9.3 billion by 2029, at a CAGR of 16.4% during the forecast period. The expanding consumption of illicit drugs & alcohol will advance raise the development of drug screening products & services on the road, thereby driving the overall market growth.”   Active companies in news today include:   Intelligent Bio Solutions Inc. (NASDAQ: INBS), Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO), bioAffinity Technologies, Inc. (NASDAQ: BIAF), Trinity Biotech plc (NASDAQ: TRIB), SOBR Safe, Inc. (NASDAQ: SOBR).

    The MarketsAndMarkets report said: “The growth of the drug screening market is driven by the growing drug & alcohol consumption and the enforcement of stringent laws mandating drug & alcohol testing. Rising regulatory approvals for new product & service launches would offer lucrative growth opportunities for market players in the coming years. The APAC market is projected to register the highest growth in the forecast period due to growing illicit consumption of drugs, the developing healthcare infrastructure, and the rising adoption of stringent regulatory guidelines for drug testing.”

    Intelligent Bio Solutions Inc. (NASDAQ: INBS) Adds Quantum TM to 400+ Account Portfolio Utilizing Breakthrough Fingerprint Drug Testing – Intelligent Bio Solutions Inc. (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, announced that Quantum Traffic Management (“Quantum TM”), a leading UK-based traffic management provider, has adopted INBS’ Intelligent Fingerprinting Drug Testing Solution across its 10 nationwide sites to increase workplace testing efficiency and safety.

    With over 30 years of industry experience, Quantum TM operates across the utilities, highways, rail, local authority, and events sectors. Previously, Quantum TM relied on saliva and urine testing through external occupational health providers; however, the delays and inefficiencies associated with these methods prompted the company to explore a quicker and more hygienic alternative. INBS’ fingerprint sweat-based system enables Quantum TM to conduct on-the-spot drug screening in-house, facilitating rapid decision-making and improved operational efficiency.

    “The Intelligent Fingerprinting Drug Testing Solution provides us with greater control when it comes to drug testing. Having previously faced delays with our former saliva and urine drug testing methods, we needed to find an effective solution that we could manage in-house and increase our testing productivity,” said Scott Powell, Managing Director at Quantum TM. “Intelligent Bio Solutions’ technology enables us to do this, and we have already improved our testing efficiency with rapid, non-invasive screening.” CONTINUED…   Read this entire press release for INBS at: https://ibs.inc/news-and-media/

    In Additional News This Week, Intelligent Bio Solutions Inc. (NASDAQ: INBS) Partners with IVY Diagnostics to Expand in Europe’s $3.6 Billion Drug Screening Market and in Middle Eastern Regions – Intelligent Bio Solutions Inc. also announced the strengthening of its foothold throughout Europe and the Middle East through its partnership with IVY Diagnostics Srl (“IVY Diagnostics”). As a key distributor, IVY Diagnostics is playing an integral role in expanding the adoption of INBS’ Intelligent Fingerprinting Drug Testing Solution across Europe and the Middle East, with a particular focus on drug rehabilitation and law enforcement applications.

    According to Grand View Research, the European and Middle Eastern drug screening markets are projected to grow significantly by 2030, with Europe expected to reach $3.6 billion and the Middle East and Africa $432.7 million. This growing demand emphasizes the strategic importance of INBS’ partnership with IVY Diagnostics.

    IVY Diagnostics, a well-known consulting and distribution company within the diagnostics, life sciences and pharmaceutical sectors, has collaborated with another Italian distributor to secure a tender to provide INBS’ drug screening technology for drug rehabilitation programs across Italy. The solution offers a non-invasive, rapid, and hygienic method for drug screening, which has been well received by rehabilitation centers aiming to enhance their testing protocols. In addition to its success in rehabilitation services, INBS’ drug screening system is currently undergoing a trial with the local police force in Turin. The trial aims to explore the effectiveness of fingerprint-based drug testing in roadside screening initiatives, offering a more efficient, less invasive alternative to the traditional methods currently used.

    As the demand for drug screening solutions rises across Europe and the Middle East, INBS’ collaboration with IVY Diagnostics positions the Company to effectively capture new opportunities. IVY Diagnostics serves as INBS’ primary contact in Europe, leveraging its extensive network of distributors and expertise in identifying and vetting new partners across key regions, including Romania, Hungary, Slovakia, Austria, and Scandinavia. The collaboration extends to the Middle East, targeting markets such as the UAE, Saudi Arabia, and Qatar.   CONTINUED…   Read this entire press release for INBS at: https://ibs.inc/news-and-media/

    In other developments in the markets of note:

    Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO) recently announced that the Company’s PrecisionCHD and Epi+Gen CHD tests have received final pricing determinations from the Centers for Medicare & Medicaid Services (CMS). Following the preliminary pricing determination made by CMS in August 2024, CMS finalized the ‘gapfill’ pricing determination for both PrecisionCHD and Epi+Gen CHD. This decision will be effective for claims with dates of service on or after January 1, 2025, and will allow Medicare contractors to determine pricing for PrecisionCHD and Epi+Gen CHD based on actual cost data from Cardio Diagnostics. The Medicare contractors will report to CMS preliminary gapfill pricing for calendar year 2025 by April 1, 2025.

    “Receiving this final determination is a crucial step for our innovative solutions to help improve the risk assessment, diagnosis, management and monitoring of coronary heart disease (CHD) for Medicare patients,” said Meesha Dogan, Ph.D., CEO and Co-Founder of Cardio Diagnostics. “This milestone brings us closer to addressing the significant unmet needs in cardiovascular care for the Medicare population, enabling clinicians to better personalize treatment strategies and ultimately improve patient outcomes.”

    bioAffinity Technologies, Inc. (NASDAQ: BIAF) recently announced that the Australian Patent Office (IP Australia), has accepted bioAffinity’s patent application for the method of predicting the likelihood of lung cancer used by the CyPath® Lung diagnostic test for early-stage lung cancer.

    The Australian patent application, titled “Detection of Early-Stage Lung Cancer in Sputum Using Automated Flow Cytometry and Machine Learning,” will be an important addition to bioAffinity Technologies’ patent portfolio, which includes 17 awarded U.S. and foreign patents and 38 pending patent applications related to its diagnostic platform and cancer treatment therapeutics. Once issued, the Australian patent will expire in 2042 and will be the second awarded for the CyPath® Lung flow cytometry test as a stand-alone assay for the detection of lung cancer.

    Trinity Biotech plc (NASDAQ: TRIB) recently announced compelling results from its latest pre-pivotal clinical trial for its next-generation continuous glucose monitoring (CGM) system. The pre-pivotal clinical trial, which included 30 diabetic participants—primarily individuals with Type 1 diabetes—represents a significant milestone in Trinity’s mission to deliver affordable, high-performance CGM technology.

    Trinity Biotech’s redesigned ergonomic modular device features a reusable applicator and a rechargeable wearable transmitter that eliminates costly disposable components while delivering a seamless user experience. By using more durable, reusable components, enabled by Trinity’s proprietary self-inserting sensor technology, the Trinity CGM is designed to deliver care at a significantly lower cost than today’s two largest manufacturers. By addressing affordability—a key barrier to adoption of this life changing technology —Trinity’s innovative approach has the potential to bring CGM technology to millions of individuals who have been priced out of the market. This disruptive design not only expands access but also redefines sustainability in the CGM space, further differentiating Trinity’s solution from current market leaders.

    SOBR Safe, Inc. (NASDAQ: SOBR) recently announced the new release of SOBRsure™, a revolutionary wristband device designed to detect the presence of alcohol in individuals, supporting sobriety and empowering recovery. Available to purchase today, SOBRsure introduces an enhanced app experience and a new, sleekly-designed wristband that uses advanced transdermal technology to detect alcohol through the skin. This innovative device serves as a powerful monitoring and accountability tool for families, businesses and individuals alike.

    “We believe that SOBRsure is not just a technological breakthrough; it’s a lifeline to those navigating alcohol use disorder (AUD) and the path to sobriety,” said David Gandini, CEO of SOBRsafe. “With SOBRsure, we provide an accountability tool that not only supports individuals on their sobriety journey but also offers peace of mind to their families and employers.”

    About FN Media Group:

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    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM was compensated twenty six hundred dollars for news coverage of the current press releases issued by Intelligent Bio Solutions Inc. by a non-affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group

    The MIL Network –

    January 31, 2025
  • MIL-OSI: Churches Cultivate Deeper Connections and Greater Generosity in 2024 with Pushpay

    Source: GlobeNewswire (MIL-OSI)

    REDMOND, Wash., Jan. 30, 2025 (GLOBE NEWSWIRE) — Pushpay, the leading payments and engagement solutions provider for mission-driven organizations, today announces key trends in end-of-year generosity and church engagement, highlighting a remarkable season of growth and vitality for churches in 2024. Generosity is thriving in new ways as Pushpay technology showed a 37% increase in the total number of church volunteers this December compared to last year. Additionally, the average gift size in December grew 60%, compared to other months of the year, signaling growing momentum and strong engagement in the Church.

    “In an inspiring display of generosity and unity this holiday season, Social Dallas raised over $1.8 million in less than 60 days to secure a new home. For nearly four years, our church has been a ‘mobile church,’ traveling from venue to venue across Dallas,” said a representative from Social Dallas Church, a Pushpay customer. “This milestone marks the beginning of a permanent space for worship, community, and transformation—a space the congregation has prayed and believed for since the beginning. This wasn’t just about hitting a financial target, it was about coming together as a community to build a legacy—a place where lives will be transformed.”

    Data reinforces that acts of generosity are closely tied to connection. Findings from a recent external study show that churches that focus on engagement activities and ways to cultivate deeper relationships with their community members saw nearly a 57% increase in overall giving. Today, Pushpay’s engagement software enables churches to facilitate nearly 1.3 million moments of connection within their communities each week.

    “Generosity is innate to the human spirit, and it flourishes when people feel connected,” said Molly Matthews, CEO of Pushpay. “Many of our customers experienced the extraordinary power of that generosity this year—be it time, talent, or tithes—as Pushpay worked alongside them to transform how they connect and engage with their members. For faith leaders, these findings underscore the importance of fostering genuine relationships, which in turn lead to transformational results.”

    End of Year Generosity By the Numbers
    Based on Pushpay’s customer base of more than 14,000 churches, noteworthy end of year trends include:

    • Growth in End of Year Donations: December’s year-over-year donation volume grew by 4% compared to 2023.
    • Bump in One-Time Gifts: Non-recurring gifts jumped 110% in December compared to the monthly average in 2024.
    • Increase in Giving Tuesday: This year 25% more donations were processed on Giving Tuesday, a staggering comparison to 2023 and an indication that churches are starting to take advantage of this growing cultural trend in charitable giving.
    • Recurring Giving Trends: 7% of all gifts for the year were donated in the last two weeks of the year, which is below the market average for not for profit organizations—likely due to the volume of donors that are enrolled in recurring giving options.
    • Higher Family Engagement: Average child check-ins increased by 10% in December 2024, compared to 2023, signaling a potential increase in family participation.
    • Average Gift Amount Remains Steady: The average gift size remains flat compared to last year, with the YoY monthly average being $216.

    The Rise of Non-Cash Giving
    2024 also saw significant growth in non-cash generosity, with more donors utilizing stock and cryptocurrency donations to maximize their impact. Through Pushpay’s deepened partnership with Engiven, an industry leading complex giving solution, more churches than ever received crypto and stock donations this year, unlocking new lanes of generosity for their community. Notably, 61% of all stock donations and 22% of crypto gifts through the Pushpay platform were made in December, reflecting the importance of year-end giving. According to data from all Engiven customers and partners, the average stock gift in 2024 was more than $14,500, with an average crypto gift being nearly $58,000.

    Driving Greater Generosity with Technology Innovation
    Technology plays a pivotal role in helping churches achieve their mission by equipping ministry leaders with the tools they need to deepen relationships and inspire meaningful acts of generosity. In 2024, Pushpay introduced several new product features and enhancements to help churches grow connection and generosity, including multi-fund giving, mobile app enhancements, volunteer scheduling improvements, and more—all to help streamline church operations while increasing engagement. To learn more about Pushpay, visit www.pushpay.com.

    About Pushpay
    Pushpay empowers mission-driven organizations to engage their communities by bringing people together and fostering meaningful connections. Through its innovative suite of products, Pushpay helps create cultures of generosity by streamlining donation processes, enhancing communications, and strengthening relationships. Pushpay’s purpose-built ministry solutions include ChurchStaq, ParishStaq, Pushpay Insights, Resi, and more— all designed to simplify operations and provide data driven insights to support the mission of its customers. Whether managing donations, organizing events, or connecting with community members, Pushpay’s integrated tools enable ministry leaders to focus on what matters most—growing their ministry and deepening engagement. For more information visit www.pushpay.com

    US Media / PR Contact: Chelsea Looney PR@pushpay.com

    The MIL Network –

    January 31, 2025
  • MIL-OSI: Traliant introduces new cultural competence training to drive workplace collaboration and innovation

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 30, 2025 (GLOBE NEWSWIRE) — Traliant, a leader in online compliance training, today announced the launch of its new Cultural Competence training, designed to empower employees and managers to navigate and thrive in diverse workplace environments.

    In an increasingly global and interconnected business landscape, cultural competence has become more than just a soft skill — it’s a strategic advantage. Traliant’s training highlights how mastering cultural competence enhances collaboration, reduces costly miscommunications and fosters innovation by leveraging diverse perspectives. With practical strategies and real-world scenarios, the course equips employees to build stronger relationships, handle differences constructively and create an environment where diverse teams can excel.

    “Organizations today are seeking measurable ways to boost productivity, retain top talent and drive innovation,” said Mike Dahir, CEO at Traliant. “Cultural competence training goes beyond inclusion; it directly impacts the bottom line by enhancing team dynamics, reducing turnover and positioning organizations to succeed in diverse markets.”

    Toxic workplace cultures cost U.S. companies $223 billion. Traliant’s training addresses these challenges by reducing microaggressions, unconscious bias and communication barriers — helping organizations build trust, retain talent, and achieve better results.

    Traliant also released new Cultural Competence in Healthcare training for clinicians, nurses, and other healthcare professionals designed to improve patient outcomes and align with state and federal standards. This specialized course provides healthcare professionals with actionable insights into understanding patients’ cultural contexts, enabling them to deliver improved patient outcomes through more effective and personalized care.

    To learn more about Traliant’s innovative training solutions, visit: https://www.traliant.com/.

    About Traliant
    Traliant, a leader in compliance training, is on a mission to help make workplaces better, for everyone. Committed to a customer promise of “compliance you can trust, training you will love,” Traliant delivers continuously compliant online courses, backed by an unparalleled in-house legal team, with engaging, story-based training designed to create truly enjoyable learning experiences.

    Traliant supports over 14,000 organizations worldwide with a library of curated essential courses to broaden employee perspectives, achieve compliance and elevate workplace culture, including sexual harassment training, diversity training, code of conduct training, and many more.  

    Backed by PSG, a leading growth equity firm, Traliant holds a coveted position on Inc.’s 5000 fastest-growing private companies in America for four consecutive years, along with numerous awards for its products and workplace culture. For more information, visit http://www.traliant.com and follow us on LinkedIn.

    Contact
    Reagan Bennet
    traliant@v2comms.com 

    The MIL Network –

    January 31, 2025
  • MIL-OSI: ITS Logistics January Supply Chain Report: Recession Risks Heighten for US Economy as Consumer Confidence Decreases for Second Consecutive Month

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., Jan. 30, 2025 (GLOBE NEWSWIRE) — ITS Logistics released the January ITS Supply Chain Report, revealing the U.S. economy was relatively stable last month but faced several headwinds. The job market remained strong, and inflation cooled significantly, but concerns about core inflation, higher interest rates, tariffs, and potential economic slowdown loomed. The Federal Reserve’s cautious approach to monetary policy and the housing market’s ongoing challenges also continued to influence the overall economic outlook.

    “As the U.S. entered December 2024, the economic outlook carried both positive and negative trends that could influence the trajectory of the economy in 2025 and beyond,” said Stan Kolev, Chief Financial Officer of ITS Logistics. “While many indicators suggest resilience, a number of challenges pose significant risks to continued growth.”

    Key concerns that supply chain professionals should be privy to include:

    • Inflationary Pressure: If inflationary pressures persist or accelerate, it could erode consumer spending and confidence
    • Monetary Policy Uncertainty: The risk of inflation becoming entrenched could lead to more aggressive action from the Federal Reserve, with possible interest rate hikes impacting consumer borrowing and business investment
    • Global Economic Uncertainty: The global supply chain disruptions and rising geopolitical tensions could negatively impact US exports and supply chains, hurting sectors that rely on international trade
    • Consumer Confidence: If inflation and high borrowing costs weigh too heavily on households, it could lead to reduced discretionary spending, further slowing growth in key sectors like retail, travel, and housing
    • Tariffs: Per the recent incoming Trump Administration announcement, there is a potential for an increase in tariffs. Companies should prepare for the potential of a front-loading event similar to 2018, disrupting transpacific trade lanes from Asia into North America

    The Conference Board reported that this month alone, U.S. consumer confidence decreased for the second consecutive month. Its consumer confidence index declined to 104.1 from 109.5 in December. This is considered to be worse than the projections presented by economists, which were expected to result in a reading of 105.8. The index measures Americans’ assessment of current economic conditions and their outlook for the next six months. Overall, consumers’ outlook of current market conditions decreased by 9.7 points to a reading of 134.3 this month, while the views on current labor market conditions fell for the first time since September.

    “In December 2024, the U.S. labor market remained strong but showed some signs of slowing as the year came to a close,” continued Kolev. “The U.S. economy added about 200,000 to 250,000 jobs last month, continuing a solid pace of hiring. While lower than the stronger job growth observed in 2021 and 2022, it still represented a healthy expansion, especially given the higher interest rate environment. The unemployment rate remained steady at 3.5%, continuing near historic lows. This suggested a tight labor market, with many employers still struggling to find workers.”

    Although job growth slowed compared to earlier in the recovery, demand for workers remained robust, particularly in healthcare, hospitality, and blue-collar industries. However, concerns about higher interest rates and a potential economic slowdown in 2025 could bring more caution to the labor market.

    While the U.S. economy was not yet in recession in December 2024, the risks are heightened as we move into 2025. The key concerns include how inflationary pressures, high interest rates, and global uncertainties will impact growth, consumer confidence, and business investment in the year ahead.

    ITS Logistics offers a full suite of network transportation solutions across North America and distribution and fulfillment services to 95% of the U.S. population within two days. These services include drayage and intermodal in 22 coastal ports and 30 rail ramps, a full suite of asset and asset-lite transportation solutions, omnichannel distribution and fulfillment, LTL, and outbound small parcel.

    The monthly ITS Supply Chain Report serves to inform ITS employees, partners, and customers of marketplace changes and updates. The information in the report combines data provided through DAT and various industry sources with insights from the ITS team. Visit here for a comprehensive copy of the report with expected industry insights and market updates.

    About ITS Logistics
    ITS Logistics is one of North America’s fastest-growing, asset-based modern 3PLs, providing solutions for the industry’s most complicated supply chain challenges. With a people-first culture committed to excellence, the company relentlessly strives to deliver unmatched value through best-in-class service, expertise, and innovation. The ITS Logistics portfolio features North America’s #19 asset-lite freight brokerage, the #12 drayage and intermodal solution, a top 50 dedicated fleet, an innovative cloud-based technology ecosystem, and a nationwide distribution and fulfillment network.

    Media Contact
    Amber Good
    LeadCoverage
    amber@leadcoverage.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4910ceb2-75a8-407d-b57a-1342bbc2d3f0

    The MIL Network –

    January 31, 2025
  • MIL-OSI: Drones Providing Valuable Military Intelligence & Surveillance Solutions as Drone Market Skyrockets with Potential

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Jan. 30, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The increasing terrorism around the globe is expected to boost the growth of the military drone market going forward. Terrorism refers to an act of violence that would put others in danger while showing a blatant disdain for the harm IT would do. Governments and military organizations often use military drones in counter-terrorism efforts. Drones can provide valuable intelligence, surveillance, and reconnaissance (ISR) capabilities to monitor and track terrorist activities. The need for real-time data and actionable intelligence in counter-terrorism operations drives the demand for military drones. A recent report said that the military drones market size is expected to see strong growth in the next few years. It will grow to $21.93 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The report said that: The Global Military Drones Market Trend: Innovative Products Expand The Military Drone Market. Major companies operating in the military drone market are developing new products such as hybrid unmanned aerial systems to meet larger customer bases, more sales, and increase revenue. A hybrid unmanned aerial system (UAS) refers to a type of drone or unmanned aircraft system that combines multiple propulsion systems or energy sources to enable enhanced operational capabilities.” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), ParaZero Technologies Ltd. (NASDAQ: PRZO), Lockheed Martin Corporation (NYSE: LMT), RTX Corporation (NYSE: RTX).

    The Business Research Company continued: “Global Military Drones Market Trend: Rising Popularity Of Drone Swarm Technology In The Military Drone Market. Drone swarm technology is growing in popularity in the military drone market due to its cost efficiency and high firepower. Drone swarms are a large group of small drones that coordinate with each other to perform actions such as a survey of enemy territories, search and rescue, and attacks on hostile objects. Drone swarm technology involves the production of several small, cheap drones rather than one large, expensive drone, therefore offering military drone manufacturers and end-users’ efficiency in terms of cost and time. With the use of advanced swarm technologies, the military and armed forces can effectively carry out lethal drone strikes in multiple places at once.”

    ZenaTech (NASDAQ:ZENA) Announces Spider Vision Sensors Collaborates with Suntek Global to Apply for First Blue UAS Certification of IQ Nano Drone Sensor for US Defense – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that its subsidiaries ZenaDrone and Spider Vision Sensors are collaborating with Taiwan-based certified electronics manufacturer and partner, Suntek Global, to apply for the company’s first Blue UAS (Unmanned Aerial System) certified IQ Nano drone sensor for use by US Defense branches.

    A drone sensor is a device onboard a drone that collects data, such as cameras for imaging, LiDAR for mapping, or infrared sensors for thermal detection. Military and Defense departments use small autonomous indoor drones like the 10X10 inch IQ Nano for various applications such as inventory management, indoor building reconnaissance, search and rescue, training simulations, and explosives detection.

    “We have been working with Suntek on Blue UAS certification for our cameras and sensors since signing a partnership agreement in early December, in conjunction with our Spider Vision Sensors manufacturing subsidiary in Taiwan,” said CEO Shaun Passley, Ph.D. “Our immediate goal is to utilize Suntek’s expertise having achieved Blue UAS certification, to help us source and manufacture our own compliant components as well as help us with the Blue UAS application process for our components and the IQ Nano drone. If approved, the drone is placed on the Blue UAS Cleared List, allowing military and federal agencies to directly purchase our drones.

    “The IQ Nano drone is ideal for indoor operations in scenarios requiring precision, maneuverability, and minimal collateral damage, and can also improve efficiency and costs managing inventories of supplies in the Department of Defense (DoD) warehouse and storage facilities,” concluded Dr. Passley.

    The company also intends to file for the less stringent and faster to achieve Green UAS certification for IQ Nano sensor and the drone in the second quarter of 2025. The Green certification is considered a pathway to the Blue certification list, with the main difference being that it is a commercial certification for secure drones led by a drone industry association (AUVSI). The Blue UAS is a military-grade approval for DoD use and has strict country of origin requirements that must not include a set list of Chinese suppliers. The Blue UAS Certification Process for DoD use is managed by the Defense Innovation Unit (DIU) and includes additional security and performance evaluations. Continued… Read this full release for ZENA by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the defense/military industry include:

    Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a technology company in the defense, national security and global markets, recently announced that Kratos Unmanned Systems Division successfully executed a multi-week demonstration of its self-driving truck platooning system technology with FPInnovations, a Canadian research and technology organization that assesses, adapts and delivers solutions to Canada’s forest industry’s total value chain.

    The Kratos developed self-driving system “kit”, which enables vehicles to be capable of autonomous driving, was deployed for evaluation in forestry operations in northern Québec, Canada. Deployment of this technology is intended to mitigate driver shortages, improve safety protocols, boost rural economic vitality, and contribute to the development of a regulatory framework for autonomous vehicles. The automated platooning technology performed exceptionally well in the challenging forestry environment and hauled both unloaded and loaded timber trailers. The Kratos system demonstrated precision navigation in automated platooning mode along complex off-pavement roadways with degraded access to GPS, steep grades, severe visibility-limiting dust, sub-freezing temperatures, rain, and under variable day/night/twilight lighting conditions.

    ParaZero Technologies Ltd. (NASDAQ: PRZO), an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, recently announced the successful launch of a pilot program utilizing its DropAir – Precision Airdrop System in a high-risk operational zone. The program, conducted in collaboration with a leading drone company, demonstrates the system’s ability to deliver critical blood transfusions rapidly and safely, significantly reducing the time needed to save lives in emergency situations.

    The pilot program involves a military-operated drone, equipped with ParaZero’s DropAir System, capable of delivering numerous blood transfusions in a matter of minutes. This breakthrough in aerial logistics showcases the system’s ability to cut down critical response times, ensuring that life-saving medical supplies are able to reach those in need with speed and precision.

    Lockheed Martin Corporation (NYSE: LMT) recently reported fourth quarter 2024 net sales of $18.6 billion, compared to $18.9 billion in the fourth quarter of 2023. Net earnings in the fourth quarter of 2024 were $527 million, or $2.22 per share, including $1.7 billion ($1.3 billion, or $5.45 per share, after-tax) of losses for classified programs, compared to $1.9 billion, or $7.58 per share, in the fourth quarter of 2023. Cash from operations was $1.0 billion in the fourth quarter of 2024, after a pension contribution of $990 million, compared to $2.4 billion in the fourth quarter of 2023. Free cash flow was $441 million in the fourth quarter of 2024, after a pension contribution of $990 million, compared to $1.7 billion in the fourth quarter of 2023. Fourth quarter 2024 results included 13 weeks, compared to 14 weeks for fourth quarter 2023, which had an unfavorable impact on sales volume across the company.

    Net sales in 2024 were $71.0 billion, compared to $67.6 billion in 2023. Net earnings in 2024 were $5.3 billion, or $22.31 per share, including $2.0 billion ($1.5 billion, or $6.16 per share, after-tax) of losses for classified programs, compared to $6.9 billion, or $27.55 per share, in 2023. Cash from operations was $7.0 billion in 2024, after a pension contribution of $990 million, compared to $7.9 billion in 2023. Free cash flow was $5.3 billion in 2024, after a pension contribution of $990 million, compared to $6.2 billion in 2023.

    “2024 was another successful and productive year for Lockheed Martin. Our 5% sales growth and record year-end backlog of $176 billion demonstrate the enduring global demand for our advanced defense technology and systems,” said Jim Taiclet, Lockheed Martin’s Chairman, President and CEO. “In the year, we invested over $3 billion in advancing our nation’s security through research and development and capital investment to support our customers’ missions, drive innovation and transform our operations with the latest digital and manufacturing technologies. Our strong and consistent performance also enabled us to again return greater than 100% of free cash flow to our shareholders in 2024.”

    Collins Aerospace, an RTX (NYSE: RTX) business, was recently awarded a follow-on contract with a potential for up to $904 million over five years to continue development of the U.S. Navy’s Cooperative Engagement Capability, a system that integrates sensors across surface, land, and air platforms to enable Integrated Fire Controls. RTX has been the sole provider of the Cooperative Engagement Capability (CEC) since 1985. The new sole source contract follows an existing five-year Design Agent contract.

    The CEC is a critical network for the U.S. Navy that connects multiple platforms and associated sensors together and provides composite tracking to combat and weapons systems. Collins will add new capabilities to the system including increased interoperability, expanded weapon and sensor coordination and integration of new data sources.

    About FN Media Group:

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated fifty four hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group

    The MIL Network –

    January 31, 2025
  • MIL-OSI NGOs: Turning the tide of hepatitis C treatment in Machar Colony, Pakistan

    Source: Médecins Sans Frontières –

    In southern Pakistan’s Sindh province, on the edge of Karachi’s bustling fish harbour, sits Machar Colony. It is an informal settlement where life is harsh, often unkind, and plagued by overcrowding, poor sanitation, and limited access to basic services. The community’s struggles with health and well-being have long been exacerbated by these conditions, leaving residents vulnerable to a range of medical issues. 

    Médecins Sans Frontières (MSF) had been providing essential healthcare services in Machar Colony since 2012, offering emergency services, maternal health, and general health consultations. However, as the years progressed, MSF’s team noticed troubling patterns at our health clinic.  

    “Many residents started coming in with symptoms such as body aches, fatigue, decreased appetite, fever, or sometimes infection signs that hinted at a serious health issue,” says Dr Khawar Aslam, the project’s medical lead, who has been working with the team since 2014.

    “As we investigated further, we found that a significant number of these cases were related to hepatitis C, a viral infection that affects the liver and can lead to severe health complications.” 

    “Notably, during that time, Pakistan had the second-highest hepatitis C disease burden globally, and had already initiated its national hepatitis control programme in 2005,” says Dr Aslam. 

    A skilled lab technician carefully sets up a cartridge for accurate hepatitis C testing with the GeneXpert® at the MSF clinic in Machar Colony, Karachi, Pakistan, April 2024.
    Asim Hafeez

    Hepatitis C transmission in Pakistan is largely driven by inadequate sterilization of medical equipment and the improper reuse of needles and syringes. Contaminated blood transfusions also pose a significant risk. Common practices like barbering, tattooing, and piercing are contributing to the spread of the virus, as equipment is often not properly sterilized. In addition to these factors, the growing issue of intravenous drug use is also fuelling the transmission of hepatitis C in Pakistan.  

    According to the World Health Organization (WHO), as of April 2024, Pakistan has the highest number of viral hepatitis C infections in the world, with around 8.8 million cases. The country accounts for 44 per cent of all new hepatitis C infections attributed to unsafe medical injections. People are usually screened for hepatitis C only when they start showing signs of liver disease, which is often too late. If left untreated for too long, hepatitis C can progress to severe liver disease and even liver cancer. 

    “Even those who recognised their condition, either elsewhere or at our clinic, often faced obstacles to treatment, including high costs and the challenge of travelling to distant hospitals.” 

    “Residents have limited income sources, primarily relying on fishing, daily wage work, or small-scale businesses, which barely cover their daily needs,” Dr Aslam continues.

    “Additionally, upon referrals to other hospitals, identity cards were required for hepatitis C care; however, most of the community in Machar Colony was undocumented, so they were refused treatment.”

    Recognising the urgent need for action, in 2015 MSF started a comprehensive programme to provide free testing and treatment directly to residents. The hepatitis C services were integrated into the existing healthcare facility, allowing our teams to reach people who would otherwise remain unaware of their condition. In 2018, we closed our basic healthcare services and shifted our focus solely to the treatment of hepatitis C patients. 

    During a mobile clinic in Machar Colony, Karachi, MSF nurse Aman Ullah explains more about the symptoms of hepatitis C, how it affects people, and what measures can be taken to prevent it, Pakistan, November 2023.
    Gul Nayab/MSF

    “My wife was diagnosed with hepatitis C about a year ago and received successful treatment at the MSF clinic in Machar Colony,” says Javeed Ali, one of the programme’s patients.

    “When I subsequently developed symptoms such as leg and back pain, as well as weakness, I sought medical attention and was referred to the MSF clinic.” 

    “Inspired by my wife’s positive experience, I underwent testing and was diagnosed with hepatitis C,” says Ali. “I then completed a three-month treatment course, and fortunately, my follow-up test results were negative. My wife and I are both now in good health.” 

    To effectively address the crisis, MSF implemented a proactive strategy focused on community engagement. In a basic healthcare setup, free-of-charge hepatitis C services including screening, diagnosis, treatment, health education, and patient support were provided under one roof.  

    Between 2022 and 2024, MSF teams conducted widespread testing, going door-to-door and using mobile vans to offer in-home testing for residents aged 12 and older. This approach, called ‘bending the curve’, ensured that no one was overlooked and that those who tested positive were quickly referred for treatment, helping to bend the curve of hepatitis C prevalence in the community. 

    “By offering free services in one location, we made it easier for people to access care,” says Dr Aslam. 

    MSF also collaborated with the Ministry of Health to bring hepatitis C care closer to the community. In August 2022, we established a treatment facility at the Baldia town rural health centre, in Kemari district, Karachi. In this initiative, patients referred from Baldia hospitals’ outpatient departments, and those identified by community health workers, were screened for hepatitis C. The community health workers were trained to educate the community about hepatitis C risk factors and prevention.  

    Patients diagnosed with chronic hepatitis C received treatment for 12 or 24 weeks, depending on the severity of their liver disease. Additionally, all patients were offered hepatitis B vaccination to prevent future infections. This centre, handed over to the Ministry of Health in August 2023, serves as a crucial hub for hepatitis C treatment in the region. It is equipped with modern diagnostic tools and is now recognised as a key site for hepatitis care in Sindh province. 

    MSF team members during an outreach activity to find and support hepatitis C patients in a neighborhood of Machar Colony, Karachi, Pakistan, April 2024.
    Asim Hafeez

    In addition to reducing hepatitis C, MSF also played a vital role in Machar Colony during the COVID-19 pandemic. We supported vaccination efforts in Machar Colony and surrounding areas, ensuring residents received vital information about COVID-19 symptoms, prevention, and vaccination. MSF teams also distributed reusable masks and soap to help the community stay safe during the pandemic.

    As our hepatitis C programme concludes, the results are clear: thousands of lives have been transformed, and the rate of new infections has significantly declined. While hepatitis C remains a challenge in Machar Colony, the alarming spread has been curtailed, thanks to widespread awareness and early detection. 

    MSF has achieved the target of mobilising nearly 100 per cent of the community for hepatitis C awareness, and screening more than 72 per cent of residents.  Between 2015 and 2024, MSF screened over 129,922 individuals in our clinic and in the community, undertook 64,984 consultations for hepatitis C at the MSF clinic, performed 25,553 diagnostic polymerase chain reaction (PCR) tests, and provided treatment to over 9,398 patients. Among them, 6,909 completed their treatment. Of the remaining people, 2,061 were lost to follow-up without completing treatment, 176 with completed treatment were lost to follow-up, 14 people died during this period, while for the remaining 50 people, either treatment was not completed or follow-up stopped. Of the 6,909 completed treatments, 6,755 were cured of hepatitis C, which is 93.3 per cent, while the remaining 459 failed treatment. The success of MSF’s treatment initiatives will serve as a model for similar programmes in other underserved communities across Pakistan. 

    Médecins Sans Frontières (MSF) first began working in Pakistan in 1986 and currently provides a range of health services across all four provinces of the country, including maternal and child healthcare, primary healthcare, treatment for cutaneous leishmaniasis (CL), drug-resistant tuberculosis (DR-TB), and ongoing emergency responses. 

    MIL OSI NGO –

    January 31, 2025
  • MIL-OSI United Kingdom: Celebratory event to mark success of Clean Heat Streets project in Rose Hill

    Source: City of Oxford

    Oxford residents are invited to join a celebration marking the successful completion of the Clean Heat Streets project in Rose Hill. 

    The innovative Clean Heat Streets project aimed to support Rose Hill and Iffley households in transitioning from polluting gas boilers to energy-saving, sustainable heat pumps.  

    Unlike traditional boilers that burn gas to produce heat, heat pumps use electricity to extract heat from the air outside, providing an efficient and sustainable alternative. 

    With buildings accounting for around 60% of Oxford’s carbon emissions—25% of which come from homes—retrofitting measures like heat pumps are key for reducing emissions. 

    Key Outcomes 

    Over two years, the Clean Heat Streets project installed 31 heat pumps in Rose Hill homes, saving an estimated 43,400kg of carbon dioxide per year. The project also tested the feasibility of installing multiple heat pumps in the same neighborhood without overloading the local electricity network. 

    Residents were offered discounted heat pumps and personalised support throughout the installation process, making the switch easier and more affordable. 

    Insights and lessons from the Clean Heat Streets project will be used by the Council to inform its future approach to retrofit across the city. 

    About the event 

    The event, which will take place at Rose Hill Community Centre on Friday 31 January, will celebrate the achievements of the project, as well as a chance to discuss the lessons learned and the next steps. There will be talks, discussion, an opportunity to visit a heat pump at a Clean Heat Street installee’s home, as well as stalls, food and fun and games.  

    The event will consist of two sessions:  

    First Session (2:15 pm – 4:10pm) This session will welcome Oxford residents, heat pump professionals, academics, and representatives from the Department for Energy Security and Net Zero together with representatives from Oxford City Council and Oxfordshire County council. It will include talks from the project team about the project and key learnings, followed by a Q&A session.  

    Home tours (4:15 pm – 5:00 pm) Participants will have the opportunity to visit homes in Rose Hill where heat pumps have been installed through the project.  

    Second Session (5:15 pm – 8:00 pm) This session is for residents and will include talks from the Clean Heat Streets team outlining the next steps for the project in Oxford, as well as a meal, and interactive workshop where visitors can explore and share their thoughts on energy-saving strategies and heat pumps. The event will end with a home energy quiz.  

    More information about the event can be found on Eventbrite.  

    About Clean Heat Streets 

    The Clean Heat Streets project is a consortium consisting of Samsung, Oxford City Council, University of Oxford, Oxford Brookes University, Oxfordshire County Council, Rose Hill and Iffley Low Carbon, Scottish and Southern Electricity Networks (SSEN), GenGame, Passiv UK, and Alto Energy.     

    The project is funded by the Heat Pump Ready Funding Programme delivered by the Department for Energy Security and Net Zero. The Heat Pump Ready Programme makes up part of the BEIS’ £1 billion Net Zero Innovation portfolio, which aims to promote the uptake of clean energy technologies until 2040. 

    Comment

    “I am delighted that we are holding this event to mark the end of the successful Clean Heat Streets project. I want to thank all our partners who helped to make this project a success, and the 31 households in Rose Hill who worked with us to explore this new approach to heat pump installations. We will be continuing to explore how we can support residents across the city with adopting this technology.” 

    Councillor Anna Railton, Deputy Leader and Cabinet Member for Zero Carbon Oxford, Oxford City Council

    “My boiler was getting old and needed replacing. I’m very happy with my heat pump. It keeps the house warm and the water hot, even through the cold winter.”
    Trevor Williams, Clean Heat Streets participant, who lives on Spencer Crescent

    MIL OSI United Kingdom –

    January 31, 2025
  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with South Africa

    Source: IMF – News in Russian

    January 30, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with South Africa.

    South Africa’s economy has continued to face challenges in recent years. Power shortages and disruptions to rail and port operations constrained growth to 0.7 percent in 2023. Activity remained subdued in 2024, given election-related uncertainty in the first half of the year and severe droughts. Nonetheless, power generation was stabilized and, following the formation of a reform-oriented Government of National Unity in June, consumer, business, and investor confidence rebounded. Inflation moderated from 5.9 percent in 2023 to an estimated
    4.5 percent in 2024, with the central bank cutting interest rates by 50 basis points in 2024. While still high, unemployment declined to an estimated 32.8 percent in 2024. Government deficits remained elevated, pushing public debt to above 75 percent of GDP by end-2024.

    Looking ahead, real GDP growth is projected to accelerate to 1.5 percent in 2025, driven by recovering private consumption and investment supported by stable electricity generation. Over the medium term, annual growth is expected to reach 1.8 percent, as investment improves gradually on the back of ongoing reform efforts to address electricity and logistics bottlenecks. Inflation is projected to average 4 percent in 2025 and stabilize at the midpoint of the SARB’s target range (4.5 percent) in the medium run. With fiscal deficits projected to stay elevated over the medium term, public debt is expected to continue to rise.

    The outlook remains marked by high uncertainty, with the balance of risks tilted to the downside. Key downside external risks relate to a further deepening of geoeconomic fragmentation and intensification of protectionist policies, an escalation of ongoing conflicts, a deeper slowdown in main trading partners, or slower global disinflation and tightening financial conditions. Domestically, resistance to and delays in the implementation of needed reforms could add to downside risks. On the upside, faster and more ambitious reform implementation by the new government, or stronger global growth, could boost confidence and growth.   

    Executive Board Assessment[2]

    “Directors agreed with the thrust of the staff appraisal. They welcomed South Africa’s new Government of National Unity and its commitment to reforms aimed at addressing long‑standing challenges. While there are signs of recovery, economic activity remains subdued amid heightened global uncertainty and long‑standing structural impediments. Against this background, Directors emphasized the importance of prudent macroeconomic policies complemented by ambitious structural reforms to support macroeconomic stability and place the economy on a path toward higher, more inclusive, and greener growth.

    “Directors welcomed the authorities’ commitment to fiscal prudence, including plans to reduce the fiscal deficit and stabilize debt. Given increased risks, most Directors called for more ambitious fiscal consolidation efforts to lower debt to more prudent levels and rebuild fiscal buffers, although a few felt that the authorities’ preferred approach may be more appropriate given political economy considerations. Directors considered that an evenly paced fiscal consolidation focused on cutting inefficient spending while protecting priority social and infrastructure spending, and continuing to strengthen tax administration, can support debt sustainability while minimizing the negative impact on the economy. Most Directors agreed that introducing a prudent debt anchor supported by a fiscal rule could help underpin the adjustment and bolster credibility, although a few Directors felt that a debt ceiling could constrain flexibility. Enhancing fiscal transparency and risk management can further support the resilience of public finances.

    “Directors commended the South African Reserve Bank’s effective monetary management, which supported a decline in inflation. Looking forward, they recommended maintaining a flexible and data‑driven approach to monetary policy decisions amid ongoing uncertainties. Directors saw merit in shifting, at an opportune time, from the current inflation target band to a lower point target, which will require careful design, gradual implementation, close coordination, and appropriate communication.

    “Directors welcomed the authorities’ efforts to safeguard financial stability, including recent banking‑resolution and safety‑net reforms and macro‑prudential policies. They encouraged the authorities to continue to monitor risks, including those related to the sovereign‑bank nexus, and to stand ready to implement prudential measures as needed. They considered that strengthened supervision, including for non‑bank financial institutions, alongside continued efforts to bolster the AML/CFT framework, remain essential.

    “Directors commended the authorities for their structural reform efforts aimed at removing critical impediments to growth. They encouraged the new government to implement resolutely ongoing energy and logistics reforms, including by promoting private sector participation. To support higher and greener growth and job creation, particularly among the youth, while reducing inequality and poverty, Directors recommended additional reforms to enhance the business environment, bolster governance, and improve labor market flexibility, along with sustained efforts to facilitate trade and achieve climate goals.

    Directors wished the authorities success during South Africa’s G20 Presidency and welcomed their leadership in support of multilateral cooperation.”

     

    South Africa: Selected Economic Indicators, 2022–27

    Social Indicators

    GDP

    Poverty (percent of population)

    Nominal GDP (2022, billions of US dollars)

    407

    Lower national poverty line (2015)

    40

    GDP per capita (2022, in US dollars)

    6,712

    Undernourishment (2019)

    7

    Population characteristics

    Inequality (income shares unless otherwise specified)

    Total (2022, million)

    62

    Highest 10 percent of population (2015)

    53

    Urban population (2020, percent of total)

    67

    Lowest 40 percent of population (2015)

    7

    Life expectancy at birth (2020, number of years)

    64

    Gini coefficient (2015)

    65

    Economic Indicators

    2022

    2023

    2024

    2025

    2026

    2027

    Proj.

    National Income and Prices

    (Annual Percentage Change Unless Otherwise Indicated)

    Real GDP

    1.9

    0.7

    0.8

    1.5

    1.6

    1.7

    Domestic demand

    3.9

    0.8

    0.4

    1.5

    1.6

    1.8

    Private Consumption

    2.5

    0.7

    1.2

    1.4

    1.5

    1.6

    Government Consumption

    0.6

    1.9

    1.0

    1.0

    1.2

    1.3

    Gross Fixed Investment

    4.8

    3.9

    -3.4

    2.5

    2.7

    3.1

    Inventory Investment (contribution to growth)

    1.5

    -0.6

    0.0

    0.0

    0.0

    0.0

    Net export (contribution to growth)

    -2.1

    -0.1

    0.4

    0.1

    -0.1

    -0.1

    Real GDP per capita 1/

    1.1

    -0.8

    -0.7

    0.1

    0.1

    0.2

    GDP deflator

    5.0

    4.8

    4.4

    4.1

    4.5

    4.5

    CPI (annual average)

    6.9

    5.9

    4.5

    4.0

    4.5

    4.5

    CPI (end of period)

    7.4

    5.5

    3.0

    4.5

    4.5

    4.5

    Labor Market

    (Annual Percentage Change Unless Otherwise Indicated)

    Unemployment rate (percent of labor force, annual average)

    33.5

    33.1

    32.8

    32.7

    32.5

    32.3

    Unit labor costs (formal nonagricultural)

    2.1

    -0.8

    -0.7

    0.1

    0.1

    0.2

    Savings and Investment (Percent of GDP)

    Gross national saving

    15.0

    13.9

    13.2

    12.9

    13.0

    13.0

    Investment (including inventories) 2/

    15.4

    15.5

    14.5

    14.6

    14.8

    15.0

    Fiscal Position

    (Percent of GDP Unless Otherwise Indicated) 3/

    Revenue, including grants 4/

    27.6

    26.8

    26.8

    26.8

    26.9

    26.9

    Expenditure and net lending

    31.9

    32.7

    32.9

    33.3

    32.6

    32.3

    Overall balance

    -4.3

    -5.9

    -6.1

    -6.6

    -5.8

    -5.4

    Primary balance

    0.3

    -0.9

    -0.7

    -1.0

    -0.1

    0.4

    Gross government debt 5/

    70.8

    73.4

    75.7

    78.3

    80.1

    81.7

    Government bond yield (10-year and over, percent)

    10.7

    11.6

    11.2

    …

    …

    …

    Money and Credit

    (Annual Percentage Change Unless Otherwise Indicated)

    Broad money

    8.3

    7.9

    5.2

    5.7

    6.2

    6.3

    Credit to the private sector 6/

    8.2

    4.1

    5.0

    5.6

    6.2

    6.3

    Repo rate (percent, end-period)

    7.0

    8.25

    7.75

    …

    …

    …

    3-month Treasury bill interest rate (percent)

    5.2

    8.0

    8.3

    …

    …

    …

    Private sector credit growth (total) 7/

    9.2

    4.8

    4.3

    …

    …

    …

    Credit growth (households) 8/

    7.7

    4.4

    3.1

    …

    …

    …

    Credit growth (corporates) 8/

    10.7

    5.2

    6.4

    …

    …

    …

    Balance of Payments

    (Annual Percentage Change Unless Otherwise Indicated)

    Current account balance (billions of U.S. dollars)

    -1.8

    -6.1

    -5.3

    -7.3

    -7.8

    -8.9

    percent of GDP

    -0.5

    -1.6

    -1.3

    -1.7

    -1.8

    -2.0

    Exports growth (volume)

    7.4

    3.5

    -4.0

    2.7

    2.8

    2.9

    Imports growth (volume)

    14.9

    4.1

    -4.9

    2.2

    3.0

    3.2

    Terms of trade

    -8.6

    -4.8

    1.7

    -1.7

    -0.3

    0.0

    Overall balance (percent of GDP)

    0.0

    0.5

    0.8

    0.0

    0.0

    0.0

    Gross reserves (billions of U.S. dollars)

    60.6

    62.5

    65.9

    65.9

    65.9

    65.9

    in percent of ARA

    88.9

    97.0

    97.1

    …

    …

    …

    Total external debt (percent of GDP)

    40.4

    41.5

    43.2

    44.7

    45.1

    45.6

    Nominal effective exchange rate (period average)

    16.6

    18.8

    18.6

    …

    …

    …

    Real effective exchange rate (period average)

    6.8

    7.7

    7.5

    …

    …

    …

    Exchange rate (Rand/U.S. dollar, end-period)

    17.0

    18.5

    18.7

    …

    …

    …

    Sources: Bloomberg, Haver, National Treasury South Africa, SARB, World Bank, and IMF staff calculations.

    1/ Per-capita GDP figures are computed using STATS SA mid-year population estimates.

    2/ Inventories data are volatile and excluded from the investment breakdown to help clarify fixed capital formation developments.

    3/ Consolidated government as defined in the budget unless otherwise indicated.

    4/ Revenue excludes “transactions in assets and liabilities” classified as part of revenue in budget documents. This item represents proceeds from the sales of assets, realized valuation gains from holding of foreign currency deposits, and other conceptually similar items, which are not classified as revenue by the IMF’s Government Finance Statistics Manual 2014.

    5/ Central government.

    6/ Depository institution’s domestic claims on private sector in all currencies.

    7/ Credit extended by all monetary institutions/ Claims on the domestic private sector/ Total loans & advances. Data for 2024 is as of November.

    8/ Data for 2024 is as of August.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Tatiana Mossot

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/01/29/pr-2519-south-africa-imf-executive-board-concludes-2024-article-iv-consultation

    MIL OSI

    MIL OSI Russia News –

    January 31, 2025
  • MIL-OSI Security: Meet the Richmonds: A Navy Family Committed to Advancing Navy Medicine Through Service

    Source: United States Navy (Medical)

    Story by: Lieutenant Julius C. Wiseman III, DBA, MBA, MPS, USNMRTC Sigonella

    SIGONELLA, Sicily – In a remarkable testament to dedication and service, Petty Officers Samantha and Albert Richmond recently celebrated a significant milestone in their military careers. Last November, they were both promoted, earning the distinguished title of Hospital Corpsman First Class (HM1). This achievement is not merely a rank; it symbolizes their unwavering commitment to the Navy and their pivotal roles in enhancing Navy Medicine.

    The story of the Richmonds is one of serendipity and shared purpose. Both Petty Officers arrived at the United States Navy Medicine Readiness and Training Command (USNMRTC) Sigonella, in Sicily, Italy, in 2022, drawn by their respective duties within the Navy. Although their paths diverged before this point, it was in this picturesque Mediterranean locale that their lives intertwined. In 2023, they not only solidified their bond through marriage but also welcomed their daughter, Danielle, into the world, marking a new chapter in their family’s journey.

    Samantha Richmond, hailing from the small, close-knit town of Saint Marys, Georgia, has been a beacon of resilience and service since enlisting in the U.S. Navy in 2013. Her career has taken her to various esteemed commands, including Navy Medicine Readiness and Training Command Pensacola, the Naval Medical Center Portsmouth, and the USS PORT ROYAL (CG-73). During her tenure aboard the USS PORT ROYAL, she completed a notable Fifth Fleet deployment and two Seventh Fleet deployments in the Western Pacific, experiences that have enriched her medical expertise and honed her leadership skills. Currently, HM1 Samantha Richmond serves in the Multi-Service Ward, where she has taken on the critical role of Leading Petty Officer. In this capacity, she not only oversees the day-to-day operations of the ward but also ensures that her team is well-coordinated and prepared to meet the diverse medical needs of service members from various branches. Her leadership extends beyond patient care; she also serves as the Assistant Security Manager for the Command, which underscores her versatility and commitment to maintaining the safety and security of her fellow personnel.

    When asked about her favorite aspect of her job, Samantha responded with heartfelt sincerity, “My favorite part of the job has always been helping people, in all aspects, administratively and through patient care.” This statement reflects her deep-rooted passion for service and her belief in the importance of compassion and support in the healthcare environment. Whether she is managing administrative tasks or providing direct patient care, her goal is to make a positive impact on the lives of those she serves.

    Samantha also shared her perspective on what serving in the Navy means to her personally. “Serving to me means embracing a lifestyle that sometimes requires long periods away from home and committing to defend national security,” she explained. This sentiment captures the essence of military life, where personal sacrifice is often required in the name of a greater cause. For Samantha, the challenges of military service are balanced by the profound sense of purpose that comes from contributing to the safety and well-being of her country.
    In reflecting on her journey, she identifies the birth of their daughter, Danielle, and being promoted alongside her husband, Albert, as her most noteworthy accomplishments. These milestones not only represent personal triumphs but also signify the strength of their partnership as they navigate the complexities of military life together.

    HM1 Albert Richmond, a dedicated member of the U.S. Navy, was born and raised in the vibrant and diverse urban environment of Southeast San Diego, California. Growing up in such a dynamic city, he was surrounded by a rich tapestry of cultures and experiences that shaped his outlook on life and his aspirations for the future. Albert cites his upbringing as a significant motivator in his decision to enlist in the Navy. “Lessons that I learned from my hometown that have stuck with me to this day are that we can choose whether to be products of our environment or representations of something greater. I chose to be a representation as a United States Sailor,” HM1 Richmond reflected. This powerful statement encapsulates his commitment to rise above challenges and embody the values of honor, courage, and commitment that define the Navy.

    In just eight years of service, Petty Officer Albert Richmond has already made an impressive mark on his military career. He has completed three deployments, including significant contributions to Operation Inherent Resolve, a mission aimed at combating terrorism in the Middle East, and Cobra Gold, a multinational military exercise conducted annually in Thailand that enhances interoperability among allied forces. His experience with a Special Marine Group Task Force during these missions has equipped him with a wealth of knowledge and skills, further solidifying his role as a competent and reliable service member.

    Albert’s previous command at the 1st Marine Division allowed him to hone his skills in a fast-paced and demanding environment, preparing him for the challenges he would face in subsequent roles. Now stationed at USNMRTC Sigonella, he has taken on a pivotal role as the Command’s Career Counselor. In this capacity, he plays an essential part in shaping the futures of his fellow sailors. His mentorship has had a direct and positive impact on retention rates, as he works diligently to help sailors navigate their career paths, set goals, and develop visions for their futures. Albert’s commitment to fostering professional growth within the ranks exemplifies his dedication to the Navy and its personnel.

    Simultaneously, he also serves as the Leading Petty Officer of the Flight Line Clinic, where he oversees operations and ensures that the medical needs of personnel are met efficiently and effectively. This dual role showcases his ability to balance multiple responsibilities while maintaining a high standard of care and leadership. Albert’s contributions to both the Career Counseling program and the Flight Line Clinic illustrate his unwavering commitment to the Navy’s mission and the well-being of his fellow sailors.

    The Richmonds are just one example of the many co-spouses who serve within the ranks of the United States Navy, embodying the unique challenges and rewards that come with dual-military careers. As they embark on their next adventure, they are en route to Japan, where they will be stationed on the beautiful and strategically significant Island of Okinawa. This move represents not only a new chapter in their professional lives but also an opportunity to immerse themselves in a rich cultural environment that is steeped in history and tradition.

    HM1 Samantha Richmond will continue her mission at United States Navy Medicine Readiness and Training Command Okinawa, where she will apply her extensive experience and dedication to enhancing medical readiness and patient care. Meanwhile, HM1 Albert Richmond will be returning to his roots with the Marine Corps at the III Marine Expeditionary Force (III MEF). This assignment is particularly meaningful for him, as it allows him to reconnect with the Marine Corps legacy that has shaped his military journey.

    Together, the Richmonds stand as a guiding light of inspiration to many within the military community. Their journey exemplifies the resilience and adaptability required of dual military families, showcasing how they can successfully navigate the complexities of service while maintaining their family bond. Their experiences serve as a testament to how the Navy actively supports dual military families, offering resources and programs designed to help them thrive both personally and professionally.

    As they look toward the future, the Richmonds undoubtedly have bright prospects ahead of them in the United States Navy. Their dedication to service, commitment to one another, and willingness to embrace new challenges will continue to inspire those around them. In a world where military families often face unique hurdles, the Richmond story highlights the strength found in partnership, shared values, and a common mission, reinforcing the idea that together, they can achieve great things both in their careers and as a family.

    MIL Security OSI –

    January 31, 2025
  • MIL-OSI: Military Drones Market Heating Up as Multi-Billion Dollar Industry Realizing Rapidly Increasing Demand

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla. , Jan. 30, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Military drone refers to unmanned aerial vehicles that are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry. The main types of military drones are fixed-wing, rotary-wing, and hybrid. A fixed-wing drone is a plane that doesn’t have a human pilot on board. Fixed-wing UAVs can be commanded remotely by a human or Autonomously by onboard systems. The different types of drones include MALE, HALE, TUAV, UCAV, SUAV and involve various technologies such as remotely operated, semi-autonomous, autonomous. It is used in Search And Rescue, national defense, military exercises, and others. According to a report from The Business Research Company, the military drones market size has grown strongly in recent years. It will grow from $15.93 billion in 2024 to $17.05 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increasing military expenditure, increasing the use of military drones, increasing government funding for military drones and low interest rates. The report said: “The military drones market size is expected to see strong growth in the next few years. The growth in the forecast period can be attributed to an increase in government funds and increasing internal and external security threats. Major trends in the forecast period include strategic mergers and acquisitions, focus on use of 3D printing, use of the internet of things (IoT), focus on implementing autonomous systems and focusing on implementing emerging technologies such as artificial intelligence (AI).” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Northrop Grumman Corporation (NYSE: NOC), AeroVironment, Inc. (NASDAQ: AVAV), The Boeing Company (NYSE: BA), Red Cat Holdings, Inc. (NASDAQ: RCAT).

    The Business Research Company concluded: “The increasing terrorism is expected to boost the growth of the military drone market going forward. Terrorism refers to an act of violence that would put others in danger while showing a blatant disdain for the harm IT would do. Governments and military organizations often use military drones in counter-terrorism efforts. Drones can provide valuable intelligence, surveillance, and reconnaissance (ISR) capabilities to monitor and track terrorist activities. The need for real-time data and actionable intelligence in counter-terrorism operations drives the demand for military drones… Asia-Pacific was the largest region in military drones’ market in 2024. Western Europe is expected to be the fastest-growing region in the global military drones market share during the forecast period.”

    ZenaTech (NASDAQ:ZENA) Announces Spider Vision Sensors Collaborates with Suntek Global to Apply for First Blue UAS Certification of IQ Nano Drone Sensor for US Defense – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that its subsidiaries ZenaDrone and Spider Vision Sensors are collaborating with Taiwan-based certified electronics manufacturer and partner, Suntek Global, to apply for the company’s first Blue UAS (Unmanned Aerial System) certified IQ Nano drone sensor for use by US Defense branches.

    A drone sensor is a device onboard a drone that collects data, such as cameras for imaging, LiDAR for mapping, or infrared sensors for thermal detection. Military and Defense departments use small autonomous indoor drones like the 10X10 inch IQ Nano for various applications such as inventory management, indoor building reconnaissance, search and rescue, training simulations, and explosives detection.

    “We have been working with Suntek on Blue UAS certification for our cameras and sensors since signing a partnership agreement in early December, in conjunction with our Spider Vision Sensors manufacturing subsidiary in Taiwan,” said CEO Shaun Passley, Ph.D. “Our immediate goal is to utilize Suntek’s expertise having achieved Blue UAS certification, to help us source and manufacture our own compliant components as well as help us with the Blue UAS application process for our components and the IQ Nano drone. If approved, the drone is placed on the Blue UAS Cleared List, allowing military and federal agencies to directly purchase our drones.

    “The IQ Nano drone is ideal for indoor operations in scenarios requiring precision, maneuverability, and minimal collateral damage, and can also improve efficiency and costs managing inventories of supplies in the Department of Defense (DoD) warehouse and storage facilities,” concluded Dr. Passley.

    The company also intends to file for the less stringent and faster to achieve Green UAS certification for IQ Nano sensor and the drone in the second quarter of 2025. The Green certification is considered a pathway to the Blue certification list, with the main difference being that it is a commercial certification for secure drones led by a drone industry association (AUVSI). The Blue UAS is a military-grade approval for DoD use and has strict country of origin requirements that must not include a set list of Chinese suppliers. The Blue UAS Certification Process for DoD use is managed by the Defense Innovation Unit (DIU) and includes additional security and performance evaluations. Continued… Read this full release for ZENA by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the defense/military industry include:

    Northrop Grumman Corporation (NYSE: NOC) recently announced that its fourth quarter and full-year 2024 financial results will be posted on its investor relations website on January 30, 2025. Prior to the market opening, the company will issue an advisory release notifying the public of the availability of the complete and full text earnings release on the company’s website at http://investor.northropgrumman.com.

    The company’s fourth quarter and 2024 conference call will be held at 9 a.m. Eastern time, Thursday, January 30, 2025. The conference call will be webcast live on Northrop Grumman’s website at http://investor.northropgrumman.com. Replays of the call will be available on the Northrop Grumman website for a limited time. Presentations may be supplemented by a series of slides appearing on the company’s investor relations home page.

    AeroVironment, Inc. (NASDAQ: AVAV) recently reported financial results for the fiscal second quarter ended October 26, 2024. Second Quarter Highlights were: Record second quarter revenue of $188.5 million up 4% year-over-year; Second quarter net income of $7.5 million and non-GAAP adjusted EBITDA of $25.9 million; Funded backlog of $467.1 million as of October 26, 2024; and announced its entry into an agreement for the acquisition of BlueHalo in an all-stock transaction with an enterprise value of approximately $4.1 billion.

    “AeroVironment continues to deliver strong results, including record second-quarter revenue along with a healthy funded backlog that is 25% higher than the prior quarter,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “Key wins from our Loitering Munition Systems segment continue to drive growth for the company.

    “We expect our proposed acquisition of BlueHalo to further advance our growth opportunities with a highly complementary portfolio of products, customers and capabilities in key defense space and intelligence sectors and establish AeroVironment as the next generation defense technology company for our customers. We look forward to continued momentum beyond fiscal year 2025.”

    The Boeing Company (NYSE: BA) recently released Fourth Quarter Results which were: Finalized the International Association of Machinists and Aerospace Workers (IAM) agreement and resumed production across the 737, 767 and 777/777X programs; Financials reflect previously announced impacts of the IAM work stoppage and agreement, charges for certain defense programs, and costs associated with workforce reductions announced last year; Revenue of $15.2 billion, GAAP loss per share of ($5.46) and core (non-GAAP) loss per share of ($5.90); and Operating cash flow of ($3.5) billion; cash and marketable securities of $26.3 billion. Full Year 2024; Delivered 348 commercial airplanes and recorded 279 net orders; Total company backlog grew to $521 billion, including over 5,500 commercial airplanes.

    The Boeing Company [NYSE: BA] recorded fourth quarter revenue of $15.2 billion, GAAP loss per share of ($5.46) and core loss per share (non-GAAP) of ($5.90) (Table 1) primarily reflecting previously announced impacts of the IAM work stoppage and agreement, charges for certain defense programs, and costs associated with workforce reductions announced last year. Boeing reported operating cash flow of ($3.5) billion and free cash flow of ($4.1) billion (non-GAAP).

    “We made progress on key areas to stabilize our operations during the quarter and continued to strengthen important aspects of our safety and quality plan,” said Kelly Ortberg, Boeing president and chief executive officer. “My team and I are focused on making the fundamental changes needed to fully recover our company’s performance and restore trust with our customers, employees, suppliers, investors, regulators and all others who are counting on us.”

    Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced it has secured new orders for its Edge 130 drone from the Army National Guard and another U.S. Government Agency (OGA), totaling $518,000.

    FlightWave, a leading provider of VTOL drone, sensor and software solutions was acquired by Red Cat in September 2024. The acquisition brought FlightWave’s flagship drone, the Edge 130 Blue into its family of low-cost, portable unmanned reconnaissance and precision lethal strike systems. FlightWave’s size, weight and vertical take off capabilities makes it ideal for maritime operations and littoral environments.

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    The MIL Network –

    January 31, 2025
  • MIL-OSI Economics: Greece: Staff Concluding Statement of the 2025 Article IV Consultation Mission

    Source: International Monetary Fund

    January 30, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Greece’s near-term economic outlook remains favorable, with real GDP sustaining its robust expansion. The public finances have further improved, with the public debt-to-GDP ratio on a firm downward trajectory, amid continued fiscal consolidation supported by strong progress in reducing tax evasion. Continuing the reform momentum will establish a solid foundation to address remaining crisis legacies and structural challenges arising from the rising yet still low level of overall investment, an unfavorable demographic outlook, and sluggish productivity growth. The right policy mix aimed at continuing fiscal consolidation in a growth-friendly manner, implementing ambitious reforms to address supply-side structural impediments, and further strengthening financial system resilience is essential to achieve sustainable growth in the medium to long term, while ensuring fiscal sustainability and safeguarding financial stability.

    Robust Expansion with Declining Debt

    1. The economy maintained its robust growth in 2024, supported by strong domestic demand. Real GDP expanded by 2.3 percent (year-on-year; y/y) in the first three quarters, buoyed by a strong pickup in NGEU-funded investment projects and robust private consumption underpinned by rising real income. The unemployment rate fell to 9.5 percent (seasonally adjusted) in 2024Q3, a historic low since 2009, and the vacancy rate has risen, reflecting labor shortages in a few sectors, particularly construction, tourism-related services, and high-skill sectors. The labor force participation rate has also gradually risen but remains among the lowest in EU, especially for women. Disinflation is underway at a gradual pace with headline and core inflation at 2.9 and 3.4 percent (y/y) in end-2024, respectively, amid persistent services inflation and wage growth. Along with strong economic activity, credit growth to the private sector has accelerated to 9.4 percent (y/y) in 2024Q4, accompanied by a continued increase in residential real estate prices. High domestic import demand, driven by investment, also contributed to the widening of the current account deficit to an estimated 6.9 percent of GDP in 2024.

    2. Continued fiscal consolidation and sustained progress in much-needed structural reforms have strengthened the public finances, growth potential, and energy security. By end-2024, the public debt-to-GDP ratio is estimated to have decreased by more than 50 percentage points from its peak in 2020, supported by strong growth, high inflation, and substantial fiscal consolidation. While the labor tax wedge has been reduced by about 4½ percentage points since 2019, tax revenue has remained buoyant due to the authorities’ strong progress in reducing tax evasion. The abolishment of substantial pension penalties for retirees re-entering the labor market significantly increased the number of working pensioners in 2024. Following the significant expansion of solar and wind capacity in recent years, renewable sources now account for about 50 percent of total electricity generation.

    3. The banking system has further enhanced its resilience with improved asset quality and capital adequacy. Asset quality in systemically important banks has improved further, with the NPL ratio dropping to around 3 percent in 2024Q3, facilitated by a government-sponsored securitization framework. Banks sustained high profits, which, along with capital instrument issuances, have boosted capital adequacy, although there is room for a further strengthening of voluntary capital buffers. The capital quality needs to be further improved as Deferred Tax Credit (DTC) still represents a substantial share of prudential capital. Given repayment of the Targeted Longer-Term Refinancing Operations (TLTROs) and meeting the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) targets, liquidity and funding risks have been markedly reduced, with buffers well above prudential requirements and the EU average.

    4. Real GDP growth is projected to remain high at 2.1 percent in 2025, before moderating in the medium term. Investment will continue to be a key driver, supported by NGEU-funded projects. Private consumption growth will remain solid, underpinned by favorable employment and income growth. With stabilizing global energy prices, headline inflation is expected to resume its downward trend, while core inflation will be more persistent due to services inflation and wage growth. With NGEU funding set to expire against the backdrop of demographic headwinds and sluggish productivity growth, GDP growth is forecast to moderate to lower levels around 1¼ percent in the medium term. The current account deficit is expected to narrow gradually below 4 percent of GDP in the medium term, as imports are expected to slow along with the winding down of NGEU-funded investment.

    5. Risks to the growth outlook are balanced, while those to inflation are tilted upward. Potential headwinds include the growth slowdown in major euro area countries, a deterioration of regional conflicts, and global policy uncertainty. The acceleration of ambitious structural reforms could further improve growth prospects. Stronger and more persistent-than-expected wage growth could further fuel services inflation, potentially exacerbated by fluctuations in global and regional energy prices.

    Growth-friendly Fiscal Consolidation

    6. Continued fiscal consolidation would further strengthen public debt sustainability. The primary surplus is expected to remain high at around 2½ percent of GDP in 2025 as reduced revenue from an additional cut in social security contributions is expected to be broadly offset by revenue gains from reforms aimed at reducing tax evasion and increasing tax compliance. With the primary surplus remaining high at 2.3 percent of GDP in the medium term, the public debt-to-GDP ratio is projected to decrease further by about 25 percentage points to below 130 percent by 2030.

    7. Additional expenditure measures that raise efficiency would further strengthen Greece’s public finances. Continued reforms are necessary to enhance efficient public investment planning and management, including through further strengthening centralized coordination and procurement. It is essential to protect non-pension social spending, such as healthcare and education, to promote inclusive growth, while enhancing efficiency. Excessive increases in pensions and public-sector wages should be resisted by implementing recent reforms, for example by ensuring that pension increases adhere to the established indexation formula without ad hoc adjustment.

    8. There is room for additional revenue-enhancing reforms to further reduce tax evasion while enhancing the progressivity of the tax system. The Independent Authority for Public Revenue’s new medium-term strategy presents a good opportunity to further modernize tax administration and increase tax collection by continuing to leverage digitalization, which also reduces the burden of compliance. Tax policy reforms should focus on broadening the tax base and increasing tax progressivity. Additionally, inefficient tax expenditures, particularly the regressive VAT exemptions on some goods and services, should be phased out. The authorities should also consider raising carbon pricing, particularly in the transport and industry sectors, which can generate revenue for improved social protection and help address climate change and energy security by sharpening market incentives.

    9. Fiscal space created by additional measures or better-than-expected performance should be used for debt reduction as well as crucial social and capital spending. While public debt remains high, there are significant infrastructure investment needs, especially for energy security and in support of the green transition. The authorities should also consider enhancing support for crucial social expenditures, such as healthcare, and education with increased targeting toward the poor and vulnerable to promote inclusive growth.

    Structural reforms for boosting potential growth

    10. Comprehensive reforms to address structural supply-side impediments would increase productivity and medium-term growth prospects.

    • Raising labor force participation and ensuring a better skilled workforce. Increasing the availability of childcare and elderly care facilities can enable women to engage more productively in the economy. Reducing the still high tax wedge, coupled with appropriate job search and phasing out certain features of the unemployment benefit within the eligibility period, can enhance work incentives. Upgrading and scaling up the lifelong learning system with effective private sector participation, particularly in digital and green skills, as well as healthcare, can reduce skill mismatches and help alleviate bottlenecks for youth and female employment.
    • Accelerating regulatory reforms. Further reducing the regulatory burden and barriers to entry for firms, particularly in the services sector, would foster competition, increase productivity, and promote investment. Promoting business dynamism and fostering robust job creation are essential for effectively integrating new labor force entrants, particularly women, into employment. The quality of regulation needs to be improved by leveraging digitalization and enhancing regulatory impact assessments. Further enlarging and deepening the European single market would allow firms to grow to scale and lift productivity.
    • Advancing judicial system reforms. Progress in the implementation of the new insolvency framework, which is essential for addressing a large stock of crisis legacy distressed debt, has been hindered by imbalances and rigidities in the functioning of the civil judiciary system. In line with the recent judicial reform program, efforts should focus on accelerating the resolution of court cases. Such reforms would not only enhance financial sector resilience but also promote productive growth by facilitating the reallocation of capital to more productive activities and higher investment.

    11. Continued progress in green and digital transition will help achieve energy security and further boost productivity growth. Improving power connectivity with distant islands and enhancing energy efficiency in industries and transportation are essential for achieving the updated climate goals. Building on the ongoing increase in solar and wind capacity, scaling up grid networks and storage solutions will contribute to energy security by ensuring a stable power supply. More fundamentally, the completion of the EU-wide Energy Union, with a fully integrated and interconnected energy market, will remain crucial. Additionally, building on the commendable digitalization of public administration and the new national artificial intelligence strategy, the authorities should incentivize stronger adoption of digital technologies by the private sector to enhance productivity gains.

    Strengthening financial system resilience

    12. Monitoring of credit risks by banks should be further strengthened, while enhancing capital adequacy and its quality. With accelerating credit growth, supervisors should continue scrutinizing the extent to which banks deploy adequate and forward-looking provisioning policies, supported by adequate collateral valuations. Supervisors should also closely monitor how banks adapt their business models to the changing operating environment and further strengthen their risk management frameworks. Currently elevated bank profits should be primarily utilized to build capital buffers and improve the quality of capital. The recently announced initiative by banks to accelerate the amortization of DTCs will enhance bank resilience and reduce the bank-sovereign nexus.

    13. The implementation of the recently adopted comprehensive macroprudential toolkit will further strengthen the resilience of the banking sector. Staff welcomes activation of borrower-based measures (BBMs) for mortgage loans and a positive neutral countercyclical capital buffer (CCyB). The BBMs, in the form of caps on loan-to-value (LTV) and debt service-to-income (DSTI) ratios, should help contain excessive mortgage leverage buildup while limiting banks’ exposure to the housing boom, although close monitoring is warranted. Given the still relatively low combined capital buffers, the authorities could consider recalibrating the CCyB rate over the medium term to align with increasing uncertainty and enhance resilience.

    In closing, the mission would like to thank the Greek authorities and other stakeholders for their kind hospitality and for the open and productive discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva Graf

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    MIL OSI Economics –

    January 31, 2025
  • MIL-OSI United Kingdom: Minister for Latin America and Caribbean speech at RUSI Latin American Security Conference 2025

    Source: United Kingdom – Executive Government & Departments

    Parliamentary Under-Secretary of State for Latin America and Caribbean, Baroness Chapman of Darlington, gave a speech at the RUSI Latin American Security Conference 2025.

    Thank you, Malcolm. I was just saying to Malcolm before that the last time I was here was to hear Douglas Alexander speak. This was at a time before Brexit, before COVID.

    We had a coalition government – he was the Shadow Foreign Secretary then, and much in the world has changed since.

    And it’s been far too long – that was, I think 2014, so 11 years ago. And I hope that I’ll be back here – well let’s see if I’m invited back here after this morning!

    Anyway, thank you Malcolm for that warm introduction.

    And good morning, everyone – bom dÍa, buenos dias a todos y todas.

    If you are joining us from Latin America, as I believe some people are online. Thank you for getting up so early – muchismas gracias.

    My Spanish is atrocious, but I am getting some lessons, so hopefully that will be improving soon. And as the Brazilian Ambassador reminded me yesterday, a little bit of Portuguese wouldn’t go amiss either, so I’ll be working on that.

    Before I say anything else, I want to thank RUSI for bringing us together for the third Latin American Security Conference – and to all of your for making this a priority.

    I have a passion for Latin America, and it is great when you get the opportunity to be in a room full of other people that share that view.

    When I meet with Latin American leaders, they tell me that they do feel that they have an important role to play alongside the UK.

    Nobody has told me that they feel ignored by the UK – which is good – but they have all said that they have the desire to be more included in the future.

    The geopolitics that we all spend our time trying to understand and to shape, drives and shapes the prospects for many of the people in Latin America – whether that’s climate change, economic growth and security, in every sense, they are priorities there exactly as they are priorities for us here.

    The war in Ukraine, the conflict in the Middle East, the role of China, US elections – all influence the politics of Latin America.

    Throw in the descent of Venezuela into autocracy, and our as-yet un-ending tragedy that is Haiti – and we have got a lot to talk about together.

    As we approach 200 years of bilateral relations with Brazil, Argentina and Colombia, we should consider how far we’ve come, but also what needs to come next.

    Speaking recently to the next generation of officer cadets at the Royal Naval College at Dartmouth, some 200 years since the days when John Illingworth and Admiral Lord Cochrane supported growing independence across the region, our defence and security co-operation is strong. In Latin America there is pride in our past relationships, and a strong sense that we should do more, not less, together in the future.

    Combatting serious organised crime to protect communities here as well as there, including the heinous trade in human misery that is illegal migration; getting urgent humanitarian relief to those bearing the brunt of natural disasters across the region; pursuing Antarctic science and wider marine protection.

    Perhaps the fact that the UK has positive relationships in Latin America, the fact that it is a relatively safe, peaceful, democratic region, means the spotlight doesn’t rest on it all that often from here in the UK.

    But I see an open, growing, industrious region of the world, without which this government will find it that much harder to achieve our missions of growth, security and climate action.

    Looking across Latin America, the lesson is clear. Without security, you can’t have growth. And without growth, climate action is impossible.

    As we’ve all said hundreds of times – the first responsibility of every government, the bedrock on which the economy sits, and the ultimate guarantor of everything we hold dear, is security.

    While the focus of our attention is rightly on the wars in Europe and the Middle East, Latin America has led the news twice in recent days here in the UK.

    Extraordinary as that is – and I know because I’ve spoken to them, that Colombia and Panama do not always welcome the reason for this attention – there is a place for Latin American countries in geopolitics now that is changing.

    With attention, I think, being positive, comes opportunity.

    Panama – no longer on the financial services grey list; stable, democratic, and inviting infrastructure investment from the UK. We’re seen as a respectful, trusted partner, and they want to do business with us.

    Latin American countries really do want to work with the UK. They see the long-term value in the tailored offer from the investment and security space. We can be proud of it, but we need to make it easier for countries in Latin America to do business with us.

    And I would like to thank Ecuador particularly at the moment, for their term on the Security Council.

    Because we have so much in common with them as independent nations – we must all stand firm in the face of Russia’s invasion of Ukraine, particularly as Russia turns its sights on Latin America as a key target for disinformation, because we know the truth.

    This illegal and unprovoked war by a Permanent Member of the UN Security Council is a flagrant violation of the UN Charter, and the principles of sovereignty and territorial integrity.

    It makes us all, wherever we are, less safe.

    And with so much strong support for Ukraine from across Latin America. I know you will all be looking forward to hearing from Yaroslav Brisiuck from the Ministry of Foreign Affairs later today – on deepening dialogue and cooperation with Latin America and the Caribbean.

    We are not the only country who sees Latin America’s strategic relevance and weight.

    We know our allies in the US are considering their approach as well. The fact that Secretary Rubio’s first foreign trip is to the region, and that he spoke in his confirmation hearing about the positive relationships as well as the challenges that the US faces there demonstrates the centrality of Latin America for US foreign Policy.

    This is no bad thing. And whilst we will not always agree on the specifics every day of this approach or that, we believe that we must continue to be in close dialogue with the region and the US, to work towards common goals.

    When it comes to China’s engagement in the region, we must understand why so many Latin American countries pursue partnerships with China on development, investment and trade.

    But our job – where we can – is to provide Latin America with a choice. An alternative that many say that they want. Maybe not always cheaper, but better.

    From now on, our approach to China will be consistent – cooperating where we can, competing where we have different interests, and challenging where we must.

    But the most important thing about this, is consistency.

    The schizophrenic posturing doesn’t work.

    It’s about calm, straightforward diplomacy, never ignoring issues where we fundamentally disagree, such as the detention of Jimmy Lai.

    But cooperating where it’s in our interests, especially on climate and growth.

    But we know that sustainable growth can’t happen without security.

    Criminal gangs are multinational. Their power to feed off misery while making billions feeds of weak state institutions, drives corruption, deforestation, drug deaths and sex trafficking.

    They pursue profit at any cost, with little cost to themselves, through the production and trafficking of cocaine and other illegal drugs,  destroying lives, communities, and ecosystems in the process.

    Where organised crime gangs are in competition with the state – this is why our role in supporting the peace process in Colombia… this shows us why, it is so vital.

    Illegal mining, deforestation, and the loss of species, human rights abuses, organised immigration crime, channelling of illicit finance, modern slavery, I could go on.

    The impact is being felt now in Latin America, and on the streets of Britain,
    Most of the world’s cocaine produced in Latin America.  

    It transits through Ecuador, Peru, and Bolivia, before being trafficked via increasingly complex, global routes, entering the UK via European ports.

    But let’s be honest with ourselves about this.

    It is cocaine demand in this country that is fuelling so much misery and insecurity across Latin America.

    A kilo of cocaine was valued at approximately £1,600 – at the start of its journey in Latin America.

    But by the time it reaches the UK, its value leaps by more than 1600% to more than £28,000. And that is one hell of a margin. That’s why this trade is so pervasive.

    We are with working France and the Netherlands and European partners, on joint approaches to tackle maritime cocaine trafficking from Latin America into the UK. And we are working with our partners across the region on this as well.

    This includes £19 million from the UK across six Latin American countries over five years. This is not just about seizures.

    We’re backing our partners’ efforts, following the money, building stronger regional links,  and tackling the flow of illicit finance.

    In Ecuador – we are working with our partners to make sure fewer vulnerable people fall prey to transnational drugs cartels, whether as victims and perpetrators of Serious Organised Crime, as well as working alongside US law enforcement, to conduct regular counternarcotic and other illicit trafficking operations in the Caribbean Sea.

    Talking face to face with the brave, specialist law enforcement teams in Ecuador, Colombia and the Caribbean, it is clear to me just how much they value UK expertise and support. And how much value we can add to their operations, because we listen to their needs, respect their expertise and are partners with them for the long term.

    In Peru, Brazil, Brazil, and Ecuador – we are working together to make financial investigations into mining and logging crimes more effective.

    In Colombia – working with state institutions to improve the enforcement of environmental law is at the heart of our work for forest protection.

    Because we can’t protect a single stick of rainforest. It is regional governments that do that. But we can help them with the tools they need to do the job.

    Access to satellite imagery, intelligence and security co-operation, support with judicial processes, police kit, registration of vehicles. Where we can help, we must.

    The Home Office is working with the courageous Colombian police in Bogotá – as part of their work developing key partnerships to identify and disrupt threats to the UK Border, from illegal migration and the trafficking of drugs.

    Together, we are now using advanced technical equipment, enhanced analytical and detection techniques, and improved intelligence flows – to strengthen border security and our collective ability to detect and prevent the movement of cocaine to the UK and Europe, especially in Brazil, Colombia, Ecuador, Panama and Peru.

    I have also made it my priority in my early months in the job to improve our departmental cooperation with the Home Office, The MoD and the NCA. The new Joint Home Office/FCDO Migration Unit will strengthen the cooperation in Whitehall and our efforts on the Ground.

    The Latin America that hundreds of thousands of UK citizens a year visit today is 660 million people strong and counting – with a combined GDP of nearly $6 trillion.

    And happily, in all my visits to the region as well as our conversations in the UK, our partners across Latin America have made it clear that they share this government’s ambition – to achieve long-term, resilient growth, and bring opportunity to people across our countries.

    This is something we are working together to achieve across a vast range of work.

    In Chile, during my visit at the start of the year, I saw how Anglo-American are introducing innovative, safer, and more responsible mining techniques.

    Extraordinary, as someone who comes from the North East of England, married to the son of Welsh miners, to see a remotely operated mine. Without mining obviously there is no decarbonisation, but this is mining that has been done from the centre of Santiago, out in a mine with nobody underground, nobody’s life at risk. It is really something to behold.

    When I travelled to President Sheinbaum’s inauguration, in Mexico we signed a new Memorandum of Understanding with the Mexican Ministry for Agriculture and Rural Development – which will boost trade, advance sustainable agriculture, and renew our partnership.

    And at the end of last year,  the UK became the first European nation to accede to the growing Indo-Pacific trade bloc, the Trans-Pacific Partnership, or ‘CPTPP’, joining Chile, Mexico, and Peru.

    This makes our collective GDP £12 trillion, means zero tariffs for more than 90% of exports between members, and opens up market opportunities across three continents.

    And building on the four agreements with the region we already have – this does represent a huge opportunity for businesses.

    Of course, none of this is possible if the bigger picture is not in place – which bring me to peace and democracy.

    Latin America is now home to many stable democracies – we share so many values.

    And we are working together to uphold human rights, and the rule of law, across the region and at the UN.

    When it comes to the Falkland Islands, our position is steadfast, and our commitment to defending the Falkland Islanders’ right of self-determination will not waiver.

    Only the Falkland Islanders can and should decide their own future.

    This approach underpins the South Atlantic cooperation agreement with Argentina – announced by the Foreign Secretary and former Argentine Foreign Minister Diana Mondino, last September.

    We are grateful for our work in partnership and our dialogue on these issues with Argentina.

    When it comes to Colombia, this government will  advocate for implementation of the 2016 peace  agreement, as a priority.

    We have learned ourselves, through Northern Ireland, that no piece of paper achieves peace. It’s that consistent work of decades by political and community leaders that keeps peace. Peace is hard, requires constant vigilance, but the UK is with Colombia, for the long term, of this journey.

    But the impact of Venezuela’s catastrophic leadership is being felt across the region.

    That is why the UK sanctioned 15 new members of Nicolas Maduro’s regime, who are responsible for undermining democracy, and committing serious human rights abuses – on 10 January, the same day he asserted power illegitimately in Venezuela once again.

    And at a time where we know that you’re all worried about the wider impacts of the abhorrent violence in Haiti, as well as providing £28 million a year to the multilateral institutions still operating on the ground to support the population,  we are providing £5 million to the Kenyan-led Multinational Security Support Mission – working to bring about the stability that is so desperately needed, to pave the way for free and fair elections.

    However far away that prospect feels today, we must never give up hope.

    No country can do right by its citizens, or play its part in the world, when people live in fear and without hope.

    Our determination to tackle climate change and biodiversity loss binds us together. The region is home to so many of the natural assets on which our global prosperity depends.

    A quarter of the world’s tropical rainforest, including the mighty Amazon, and massive deposits of the metals and minerals we all need to make a leap to clean energy.

    The government welcomes the strong leadership we’re seeing from within the region. Building on generations of care led by indigenous people, and decades of pioneering innovation.

    We’re working together with Brazil, to make the next big climate summit in Belém a success, and I’m delighted that Brazil and Chile are working with us through the finance mission of the new Global Clean Power Alliance that the Prime Minister launched at the G20 in Rio with President Lula last year.

    When it comes to minerals that are critical to the transition away from fossil fuels, and toward clean energy, including two thirds of the world’s lithium, the reserves that we need for batteries, Latin America has the resources, and the UK holds the markets and the institutions.

    So we’re working together – across government in the UK and with businesses, and with partners across the region – to take a strategic approach to deliver more diversified and secure supply chains, while raising standards, and mining more responsibly.

    So to close I just want to thank RUSI for making it a priority to bring us together to discuss how the UK, Latin America and our wider partners and allies can work together even more effectively for our shared security and prosperity.

    I’ve sensed a real appetite for this from our partners across the region, but I want all of us here in the UK to be ambitious about what is possible when we work with Latin America.

    And I want us all to recognise the importance of Latin American leadership in changing what is possible at a global level as well, on the challenges and opportunities we face.

    Sure – this government here can improve our economy, we can do better on our security, and our borders, we can do our bit to reduce carbon emissions and support work against climate change.

    We can do that without changing our approach to Latin America. But how much better, and how much more successful, and how much more secure any gains we make will be if we work alongside our partners, our allies in Latin America, now and in the years ahead.

    Thank you.

    Updates to this page

    Published 30 January 2025

    MIL OSI United Kingdom –

    January 31, 2025
  • MIL-OSI Europe: Trump 2.0: the rise of an “anti-elite” elite in US politics

    Source: Universities – Science Po in English

    US president Donald Trump is surrounded by a new cohort of politicians and officials. While one of his campaign promises was to overthrow the “corrupt elites” he accuses of flooding the American political arena, his second term in office has elevated elites chosen, above all, for their political loyalty to him. Does his second term open the door to elites who can operate without concern for justice and truth?

    An article by William Genieys, CNRS Research Director at the Centre for European Studies and Comparative Politics (CEE) at Sciences Po, and Mohammad-Saïd Darviche, Senior Lecturer at the University of Montpellier, originally published by our partner The Conversation.


    The media’s focus on Trump’s comments on making Canada the 51st US state and annexing Greenland and billionaire Elon Musk’s support for some far-right parties in Europe has obscured the ambitious programme to transform the federal government that the new political elite intends to implement.

    In the wake of Trump’s inauguration on January 20, the Republican elites most loyal to the MAGA (“Make America Great Again”) leader, who staunchly oppose Democratic elites and their policies, are operating amid their party’s control over the executive and legislative branches (at least until the midterm elections in 2026), a conservative-dominated Supreme Court that includes three Trump-appointed justices, and a federal judiciary that shifted right during his first term.

    However, the political project of the Trumpist camp consists less of challenging elitism in general than attacking a specific elite: one particular to liberal democracies.

    Castigating democratic elitism

    Typical anti-elite political propaganda, along the lines of “I speak for you, the people, against the elites who betray and deceive you,” claims that a populist leader would be able to exercise power for and on behalf of the people without the mediation of an elite disconnected from their needs.

    Political theorist John Higley sees behind this form of anti-elite discourse an association between so-called “forceful leaders” and “leonine elites” (who take advantage of the former and their political success): a phenomenon that threatens the future of Western democracies.

    Since the Second World War, there has been a consensus in US politics on the idea of democratic elitism. According to this principle, elitist mediation is inevitable in mass democracies and must be based on two criteria: respect for the results of elections (which must be free and competitive); and the relative autonomy of political institutions.

    The challenge to this consensus has been growing since the 1990s with the increased polarization of American politics. It gained new momentum during and after the 2016 presidential campaign, which was marked by anti-elite rhetoric from both Republicans and Democrats (such as senators Bernie Sanders and Elizabeth Warren). At the heart of some of their diatribes was an aversion to “the Establishment” on the east and west coasts of the United States, where many prestigious financial, political and academic institutions are based, and the conspiracy notion of the “deep state”.

    The re-election of Trump, who has never admitted defeat in the 2020 presidential vote, growing political hostility and the direct involvement of tech tycoons in political communication –especially on the Republican side– further reinforce the denial of democratic elitism.

    Trump’s populism from above: a revolt of the elites

    The idea that democracy could be betrayed by “the revolt of the elites”, put forward by the US historian Christopher Lasch (1932-1994), is not new. For the anthropologist Arjun Appadurai, it is a particular feature of contemporary populism, which comes “from above.” Indeed, if the 20th century was the era of the “revolt of the masses”, the 21st century, according to Appadurai, “is characterized by the ‘revolt of the elites’.” This would explain the rise of populist autocracies (such as those currently led by Viktor Orban in Hungary, Recep Tayyip Erdogan in Turkey and Narendra Modi in India, and formerly led by Jair Bolsonaro in Brazil), but also the election successes of populist leaders in consolidated democracies (including those of Trump in the US, Giorgia Meloni in Italy, and Geert Wilders in the Netherlands, for example).

    As Appadurai explains, the success of Trumpian populism, which represents a revolt by ordinary Americans against the elites, casts a veil over the fact that, following Trump’s victory in November, “it is a new elite that has ousted from power the despised Democratic elite that had occupied the White House for nearly four years.”

    The aim of this “alter elite” is to replace the “regular” Democrat elites, but also the moderate Republicans, by deeply discrediting their values (such as liberalism and so-called “wokeism”) and their supposedly corrupt political practices. As a result, this populism “from above” carried out by the President’s supporters constitutes an alternative elite configuration, the effects of which on American democratic life could be more significant than those observed during Trump’s first term.

    Beyond the idea of a ‘Muskoligarchy’

    The idea that we are witnessing the formation of a “Muskoligarchy” –in other words, an economic elite (including tech barons such as Jeff Bezos, Mark Zuckerberg and Marc Andreessen) rallying around the figurehead of Elon Musk, whom Trump asked to lead what the president has called a “Department of Government Efficiency” (DOGE) –is seductive. It perfectly combines the vision of an alliance between a “conspiratorial, coherent, conscious” ruling class and an oligarchy made up of the “ultra-rich”. For the Financial Times columnist Martin Wolf, it is even a sign of the development of “pluto-populism”. (It is also worth noting that former president Joe Biden, in his farewell speech, referred to “an oligarchy… of extreme wealth” and “the potential rise of a tech-industrial complex.”)

    However, some observers are cautious about the advent of a “Muskoligarchy.” They point to the sociological eclecticism of the new Trumpian elite, whose facade of unity is held together above all by a political loyalty, for the time being unfailing, to the MAGA leader. The fact remains, however, that the various factions of this new “anti-elite” elite are converging around a common agenda: to rid the federal government of the supposed stranglehold of Democratic “insiders.”

    An ‘anti-elite’ elite against the ‘deep state’

    In his presidential inauguration speech in 1981, Ronald Reagan said: “Government is not the solution to our problem; government is the problem.” The anti-elitism of the Trump elite is inspired by this diagnosis, and defends a simple political programme: rid democracy of the “deep state.”

    Although the idea that the US is “beleaguered” by an “unelected and unaccountable elite” and “insiders” who subvert the general interest has been shown to be unfounded, it is nonetheless predominant in the new Trump Administration.

    This conspiracy theory has been taken to the extreme by Kash Patel, the candidate being considered to head the FBI. In his book, Government Gangsters, a veritable manifesto against the federal administration, the former lawyer writes about the need to resort to “purges” in order to bring elite Democrats to justice. He lists around 60 people, including Biden, ex-secretary of state Hillary Clinton and ex-vice president Kamala Harris.

    The appointment of Russell Vought as head of the Office of Management and Budget at the White House, a person who is known for having sought to obstruct the transition to the Biden Administration in 2021, also highlights the hard turn that the Trump administration is likely to take.

    Reshaping the state around political loyalty

    To “deconstruct the administrative state”, the “anti-elite” elites are relying on Project 2025, a 900-plus page programme report that the conservative think-tank The Heritage Foundation, which published it, says was produced by “more than 400 scholars and policy experts.” According to former Project 2025 director Paul Dans, “never before has the entire movement… banded together to construct a comprehensive plan” for this purpose. On this basis, the “anti-elite” elite want to impose loyalty to Project 2025 on federal civil servants.

    But this idea is not new. At the end of his first term, Trump issued an executive order facilitating the dismissal of statutory federal civil servants occupying “policy-related positions” and considered to be “disloyal”. The decree was rescinded by president Biden, but Trump on his first day back in office signed an executive order that seeks to void Biden’s rescindment. As President, Trump is also able to allocate senior positions within the federal administration to his supporters.

    The “anti-elite” elite not only want to reduce the size of the state, as was the case under Reagan’s “neoliberalism”, but to deconstruct and rebuild it in their own image. Their real aim is a more lasting victory: the transformation of democratic elitism into populist elitism.

    MIL OSI Europe News –

    January 31, 2025
  • MIL-OSI Asia-Pac: Speech by CE at 2025 Hong Kong Chinese New Year Fireworks Display (with photos)

    Source: Hong Kong Government special administrative region

         â€‹Following is the speech by the Chief Executive, Mr John Lee, at the 2025 Hong Kong Chinese New Year Fireworks Display today (January 30):

    王冬�主席(香港上海滙�銀行有�公�主席)�廖宜建行政總�(香港上海滙�銀行有�公�亞太��席行政總�)���嘉賓���朋�:

         å¤§å®¶æ–°å¹´å¥½ï¼�今日是乙巳蛇年的大年åˆ�二,我首先在此å�‘大家ç¥�ç¦�,蛇年身體å�¥åº·ï¼Œèº«å£¯åŠ›å�¥ï¼Œå¿ƒæƒ³äº‹æˆ�。

         å¤§å¹´åˆ�二的煙花匯演,是香港æ¯�年賀歲活動的é‡�頭戲。全港市民和來自海內外的旅客,都å�¯ä»¥è§€è³žåœ¨ç¶­æ¸¯é†‰äººå¤œæ™¯çš„襯托下,絢麗多彩ã€�璀璨奪目的煙花。

         ä»Šå¹´çš„賀歲煙花別開生é�¢ï¼Œå°‡å‘ˆç�¾å¤§ç†Šè²“的圖案,與所有觀眾分享香港大熊貓家庭共六ä½�æˆ�員的喜悅。相信大家都留æ„�到,香港æ¯�年的新春煙花都有ä¸�å�Œçš„æ–°å…ƒç´ ï¼Œç‚ºç¶­æ¸¯ä¸Šç©ºå¸¶ä¾†æ–°çš„璀璨,就如é�ˆè›‡è±¡å¾µçš„é�ˆæ´»è®Šé€šï¼Œèˆ‡é¦™æ¸¯äººé�ˆæ´»æ‡‰è®Šã€�創新求進的精神互相è¼�映。

         æ–°çš„一年,特å�€æ”¿åºœæœƒç¹¼çºŒæŽ¨å‹•香港變é�©å‰µæ–°ï¼Œé�ˆæ´»æ‡‰å°�å�„種挑戰和機é�‡ï¼Œç¹¼çºŒç™¼æ�®ã€Œä¸€åœ‹å…©åˆ¶ã€�çš„ç�¨ç‰¹å„ªå‹¢ï¼ŒåŠ å¼·å…§è�¯å¤–通的工作,讓香港在國際舞å�°ä¸Šä¸�斷大放異彩。

         æˆ‘知é�“維港兩岸數å��è�¬è¨ˆçš„市民和旅客,都很期待今晚的煙花匯演,希望大家好好享å�—這個晚上。我在此感è¬�今年æˆ�ç«‹160周年的香港上海滙è±�銀行,贊助今晚的煙花匯演,為這個喜慶的節日帶來更多歡樂。

         æˆ‘ç¥�願國家富強昌盛,香港ç¹�榮興旺,市民事事如æ„�。接ç�€æˆ‘用英語來歡迎來自ä¸�å�Œåœ°æ–¹çš„æœ‹å�‹ã€‚

         I’m delighted to join you at this fireworks extravaganza. Last night, we welcomed the Year of the Snake with a night parade. Tonight, we cheer it on with a fabulous fireworks show.

         Hong Kong, our vibrant city, is shining brighter than ever with its unique blend of Eastern and Western cultures. As we marvel with and over the dazzling pyrotechnics lighting up the skies above Victoria Harbour, let’s remember that the display is more than a cheering spectacle – more importantly, every burst of colour celebrates the diversity and soaring promise of our home.

         The snake symbolises wisdom, resilience and renewal in Chinese culture. Hong Kong has long thrived on its dynamic spirit and adaptability, endlessly mingling tradition and innovation. In the Year of the Snake, Hong Kong will revitalise its strengths and boundless future. 

         I invite you all to enjoy what Hong Kong has to offer in the Year of the Snake. Alongside magnificent mega events such as this evening’s, our city never fails to delight in its thriving wine and dine scene, breath-taking natural scenery, East-meets-West arts and cultural bounty, world-class sports and non-stop entertainment.

         My thanks to HSBC for sponsoring tonight’s fireworks display. HSBC celebrates its 160th anniversary this year. My warmest congratulations on your most meaningful anniversary!

         I wish you all a very healthy and successful Year of the Snake. Enjoy the show, as we look forward to an even brighter tomorrow. 

         ç¥�願å�„ä½�蛇年進步,心想事æˆ�,大家共å�Œåœ¨é€™å€‹æ­¡æ¨‚的春節氣氛è£�欣賞我們今晚璀璨的煙花。多è¬�大家ï¼�      

    MIL OSI Asia Pacific News –

    January 31, 2025
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