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  • MIL-OSI Global: Digital government can benefit citizens: how South Africa can reduce the risks and get it right

    Source: The Conversation – Africa – By Busani Ngcaweni, Visiting Adjunct Professor, Wits School of Governance, University of the Witwatersrand

    The digital revolution is reshaping governance worldwide. From the electronic filing of taxes to digital visa applications, technology is making government services more accessible, efficient and transparent.

    South Africa is making progress in its digital journey. In 2024 it climbed to 40th place out of 193 countries, from 65th place in 2022, in the United Nations e-Government Index. This improvement makes the country one of Africa’s digital leaders, surpassing Mauritius and Tunisia.

    South Africa has identified more than 255 government services for digitisation. Already, 134 are available on the National e-Government Portal. This achievement is remarkable. Nevertheless, the shift to digitisation comes with challenges and risks.

    Some countries have weakened the state’s role by rapidly outsourcing key government functions. But South Africa has the opportunity to build a model of digital transformation that strengthens public institutions rather than diminishes them.

    New technologies must bring tangible benefits for citizens. Digital transformation can improve public administration. But, if mismanaged, it could burden taxpayers with costs.

    Benefits

    Digital transformation comes at a cost. This is particularly true if the state fails to use its procurement power to negotiate reasonable prices. Infrastructure upgrades, cybersecurity measures, software licensing and system maintenance require substantial financial investment.

    The question is whether these expenses are a necessary step towards a more efficient and accessible government.

    Two South African examples illustrate that digital transformation can save money and enhance service delivery quality.

    The first is the South African Revenue Service. Its goal is to ensure that taxpayers and tax advisers can use the service from anywhere and at any time. The changes made more than a decade ago show that digital systems can yield substantial financial gains. After introducing e-filing in 2006, the revenue service streamlined tax processes, reduced inefficiencies and led to higher compliance rates. Ultimately this led to improved revenue collection.

    Similarly, digitising social grant payments has had a number of positive effects. In a chapter of a recent edited volume on public governance, my colleagues and I wrote a case study about how the South African Social Security Agency used basic technologies and platforms like WhatsApp and email to process a grant during the COVID pandemic. It allowed over 14 million people to apply, paid grants to over 6 million beneficiaries during the first phase of the project.

    South African Social Security Agency annual reports show that over 95% of grant beneficiaries receive their payouts electronically through debit cards, instead of going to cash points. This improves security and lets beneficiaries decide when to get and spend their money.

    There are fears that automation could result in massive job losses. But global experience has shown that digitalisation does not necessarily lead to large-scale retrenchments. Instead it can shift the nature of work to other responsibilities.

    The South African Social Security Agency provides a compelling case. Its transition to digital grant payments did not lead to job losses. Similarly, the expansion of e-filing at the revenue service has not resulted in workforce reductions. In both cases efficiencies improved.

    These cases highlight that digital transformation is reshaping roles rather than displacing employees. Public servants are moving into areas such as cybersecurity, data analysis and AI-driven decision-making.

    Shortcomings and pitfalls

    A number of inefficiencies are at play in government services.

    Firstly, most government digital operations still work with outdated paper-based systems. The lack of a uniform digital identity creates bureaucratic inefficiencies and delays.

    Secondly, fragmented procurement of equipment in government has led to duplicated efforts, increased costs and fruitless expenditure.

    Thirdly, different departments often use isolated and incompatible digital systems. This reduce the mutual benefits of digital transformation. The State IT Agency has been blamed for inefficiencies, procurement failures and questionable spending.

    Fourthly, South Africa’s public service remains fragmented. Citizens still struggle to access government services seamlessly. They often move between departments to complete what should be a single transaction.

    Without a centralised system, departments operate in isolation, duplicating efforts, increasing costs and eroding public trust.



    Read more:
    South Africa’s civil servants are missing skills, especially when it comes to technology – report

    Fifth, a lack of skills. Increasing reliance on digital tools requires expertise in data analytics, cloud computing and automation. Many public servants lack the training to take on these new roles. The National Digital and Future Skills Strategy was introduced in September 2020 to bridge this gap, but its effectiveness depends on its implementation.

    Introducing it in 2020 at the height of the COVID-19 pandemic forced government to make digital leaps which otherwise might have taken longer. To sustain services, technology had to be rapidly adopted, including basic things like holding Cabinet meetings online, using a system rapidly developed by the State Information Technology Agency.

    Sixth, security concerns complicate the transformation. As government systems become digital, they become vulnerable to cyberattacks. South Africa must put in place cybersecurity infrastructure to prevent identity theft, data breaches and service disruptions. A cyberattack on one department could affect the entire public sector.

    What needs to be done

    Government must streamline procurement, improve coordination and eliminate inefficiencies to ensure interdepartmental collaboration.

    A single, integrated e-government platform would:

    • cut red tape

    • reduce queues

    • increase efficiency.

    Government needs to upskill civil servants and improve their digital literacy.

    Government must create a seamless e-government system that connects services while protecting citizens’ personal information. The success of digitalisation depends on technological advancements as well as the level of trust citizens have in government systems. Without strong security measures, transparency and accountability, even the most sophisticated digital tools will fail to gain public confidence.

    South Africa has the chance to demonstrate that a strong, capable state can successfully integrate technology while safeguarding public interests. It should take full advantage of offers by Microsoft, Amazon and Huawei to support digital skills training in the public sector in a way that does not advantage one company’s technologies over others. Choices of technology must be user-centric, not based on preferences of accounting officers and chief information officers. Leaders of public institutions must be measured on their ability to digitally transform their organisations.

    Busani Ngcaweni is affiliated with the National School of Government, Wits and Johannesburg Universities.

    – ref. Digital government can benefit citizens: how South Africa can reduce the risks and get it right – https://theconversation.com/digital-government-can-benefit-citizens-how-south-africa-can-reduce-the-risks-and-get-it-right-254089

    MIL OSI – Global Reports –

  • MIL-OSI Global: The King’s speech: The world will be watching when Charles opens Canada’s Parliament

    Source: The Conversation – Canada – By Justin Vovk, European Royal History Reseacher, McMaster University

    Prime Minister Mark Carney has invited King Charles to embark upon a Royal Visit to Canada and open the new session of Parliament on May 27.

    The visit comes at a significant moment in Canadian history. Carney has just had his first meeting with Donald Trump, pushing back unequivocally against the American president’s continuing calls for Canada to become the 51st state.

    In their Oval Office news conference, Trump once again declared his desire to erase “the artificially drawn line” separating the U.S. and Canada and to annex Canada, as Carney made clear that would never happen.



    Read more:
    Mark Carney tells Donald Trump ‘Canada is not for sale’ in a high-stakes Oval Office meeting

    At the same time, Trump has been looking to reshape the global economic order through the use of tariffs on imported goods. Even though Canadians are fighting back with consumer and travel boycotts, many are also worrying about the future due to Trump’s actions.

    Amid this turmoil, the King’s timely visit could be a powerful show of support for Canadians, whose identity has often wilted in the shadow of its powerful but formerly protective American neighbour. The presence of the King will undoubtedly generate global attention, which could provide reassurances to Canadians that they’re not alone.

    Delivering the Speech from the Throne

    Charles is King of Canada and the country’s official head of state. This will be his 20th trip to Canada, but his first since becoming King in September 2022.

    In day-to-day government business, his duties are carried out by the Governor General. These include opening Parliament and delivering the Speech from the Throne, which outlines the government’s agenda.

    The King’s visit will mark the first time the sovereign has personally delivered the Speech from the Throne since Queen Elizabeth did so in 1957. She also opened a session of Canada’s 30th Parliament in 1977.

    Canada has maintained close ties with the United Kingdom. It still uses the Westminster parliamentary system. But Canada has also worked to establish its own national identity.

    In 1982, Prime Minister Pierre Trudeau repatriated Canada’s Constitution. This replaced the British North America Act and established Canada’s full political independence, a process that began with Confederation in 1867.

    Signals of support to Canada

    Royal Visits are one of the monarchy’s most effective tools for promoting international relations. In Charles’s recent visit to Italy, he even made a point of honouring Canada.

    This upcoming visit is expected to highlight Canada’s identity separate from the United States. It will give Charles the opportunity to remind everyone of the Crown’s place at the heart of Canadian sovereignty and our constitutional relationship with monarchy. This is an image that Charles has been eager to foster since becoming King in 2022 following the death of his mother and amid waning enthusiasm for the monarchy in some Commonwealth countries.

    The King cannot make political statements — at least, not without the say-so of the prime minister. After meeting with Justin Trudeau in March before he was replaced by Carney as prime minister, Charles signalled his support for Canadian sovereignty through a series of subtle but important gestures.



    Read more:
    How King Charles is sending Canada subtle signals of support amid Trump’s threats

    He presented a ceremonial sword to the Usher of the Black Rod — one of the Canadian Senate’s senior ceremonial officers. A week later, Charles planted a red maple at Buckingham Palace to commemorate the late Queen Elizabeth’s support for international forestry. He even wore Canadian military insignia on his admiral’s uniform during a public inspection of a British aircraft carrier.

    Commonwealth ties

    The King’s visit could also reinvigorate Canada’s ties to the Commonwealth.

    Canada has long maintained positive relations with the other Commonwealth countries through shared culture, military action and economic support. This Royal Visit could solidify the beneficial role of the Crown and of the Commonwealth for Canada as it seeks to assert its sovereignty and broaden its international economic ties in the face of American tariffs.

    Many in Canada and around the world will be watching and listening to the King’s speech when he opens Parliament on May 27.



    Read more:
    King Charles’s coronation: Can the British monarchy shed its imperial past?

    It is unlikely there will be any direct references to Trump’s 51st state threats or to the president himself. But its symbolic significance could reaffirm Canada’s place on the world stage. It may also help to quell, at least for a little while, the growing calls to reconsider the need for the British monarchy at all in modern-day Canada.

    Justin Vovk has previously received funding from the Social Sciences and Humanities Research Council of Canada. Justin is currently on the advisory board of the Institute for the Study of the Crown in Canada.

    – ref. The King’s speech: The world will be watching when Charles opens Canada’s Parliament – https://theconversation.com/the-kings-speech-the-world-will-be-watching-when-charles-opens-canadas-parliament-255852

    MIL OSI – Global Reports –

  • MIL-OSI USA: Wyoming Air National Guard selected for C-130J upgrade

    Source: US State of Wyoming

    CHEYENNE, Wyo. – The Department of the Air Force has announced that the Wyoming Air National Guard base in Cheyenne has been selected to receive the C-130J Super Hercules, a modern upgrade to replace its aging fleet of C-130H aircraft.

    The decision marks a major milestone for the 153rd Airlift Wing and reflects the outstanding performance and reliability of Wyoming Airmen in support of missions at home and around the world. A total of eight C-130J aircraft will be assigned to Cheyenne, with the first deliveries expected to begin in early 2028.

    “This is a major win for the men and women of the Wyoming Air National Guard,” said Maj. Gen. Greg Porter, Wyoming’s Adjutant General. “It’s a result of their hard work, the trust they’ve built across the Air Force, and the strong support we’ve received from our state and national leaders. We are grateful.”

    As part of the transition, pilots and loadmasters will undergo new training and certification, while flight engineers and navigators will be phased out of C-130J crew configurations. The changes will affect 19 manpower positions, which will be reallocated through the Air National Guard’s corporate process.

    Wyoming Governor Mark Gordon emphasized the long-term value of the investment.

    “This decision speaks volumes about the professionalism and dedication of our Cowboy Guard,” said Governor Mark Gordon. “I’m proud of the work that’s gone into making this possible and thankful to the Air Force for recognizing Wyoming as a critical part of its future. These aircraft will keep our state ready to serve—both in crisis response and in support of national missions.”

    Members of Wyoming’s congressional delegation praised the announcement as a reflection of the state’s ongoing role in national defense.

    “The men and women of the Wyoming Air National Guard represent the best of our state,” said Senator John Barrasso. “This C-130J upgrade ensures they have the tools they need to carry out missions more efficiently and effectively. It’s a well-earned investment in their capabilities and our national security.”

    Senator Cynthia Lummis added, “Wyoming’s Airmen are responsive, lethal, and always there when called. The arrival of the C-130J fleet will secure our Guard’s ability to respond quickly in emergencies, while strengthening our presence in key military operations.”

    Congresswoman Harriet Hageman echoed that sentiment: “This is a big moment for Cheyenne and the entire state of Wyoming. The C-130J upgrade reflects our Wyoming Guard’s stellar record and the community’s strong partnership with the military.”

    The 153rd Airlift Wing has long played a vital role in the Air National Guard’s airlift capabilities, including aeromedical evacuation, humanitarian relief, firefighting with the Modular Airborne Fire Fighting System (MAFFS), and global operations. The addition of the C-130J marks the next evolution in that legacy.

    MIL OSI USA News –

  • MIL-OSI: Glen Burnie Bancorp Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    GLEN BURNIE, Md., May 07, 2025 (GLOBE NEWSWIRE) — Glen Burnie Bancorp (“Bancorp”) (NASDAQ: GLBZ), the bank holding company for The Bank of Glen Burnie (“Bank”), today reported results for the first quarter ended March 31, 2025. Net income for the first quarter was $153,000, or $0.05 per basic and diluted common share, as compared to net income of $3,000, or $0 per basic and diluted common share for the three-month period ended March 31, 2024.   On March 31, 2025, Bancorp had total assets of $358.0 million. Bancorp is the oldest independent commercial bank in Anne Arundel County.

    “The Company continues to pursue growing loans and deposits to improve revenues, margins and, ultimately, profitability. That said, we are aware of headwinds that could result in a slowing economy. We continue to emphasize disciplined lending practices, focusing on growing new client relationships, safety, and margin. Our allowance for credit losses stood at $2.7 million at March 31, 2025, representing 1.30% of total loans. Our non-performing assets remained at minimal levels consistent with previous quarters, underscoring the strength of our underwriting standards and ongoing credit monitoring,” said Mark C. Hanna, President and Chief Executive Officer. “Our team is committed to our customers and communities, and we continue to focus on growing funding sources, growing earning assets and building the infrastructure needed to grow customer relationships. These strategic priorities drive all areas of revenue and expense control, with the goal of expanding both return on assets and return on capital for the long term. While markets have been volatile recently, our Company remains financially strong, sound, and secure as reflected in our capital levels, asset quality, diversified deposit base and access to multiple liquidity sources.”

    Highlights for the First Three Months of 2025

    Net interest income decreased $8,000, or 0.31% to $2.56 million through March 31, 2025, as compared to $2.57 million during the prior-year first quarter. The decrease resulted from a $233,000 increase in interest expense, offset by a $224,000 increase in interest income. The increase in interest on deposits was driven by increased deposit balances in the money market products. The increase in interest and fees on loans was driven by the $30.0 million higher average balance and 0.27% higher yield on loan balances.

    The Company expects that its strong liquidity and capital positions will provide ample capacity for future growth.

    Return on average assets for the three-month period ended March 31, 2025, was 0.17%, as compared to 0% for the three-month period ended March 31, 2024. Return on average equity for the three-month period ended March 31, 2025, was 3.22%, as compared to 0.06% for the three-month period ended March 31, 2024.   Release of provision for credit allowance on loans and unfunded commitments primarily drove the higher return on average assets and average equity.

    On March 31, 2025, liquidity remained strong due to managed cash and cash equivalents, borrowing lines with the FHLB of Atlanta, the Federal Reserve and correspondent banks, and the size and composition of the bond portfolio.

    Balance Sheet Review

    Total assets were $358.0 million on March 31, 2025, a decrease of $1.0 million or 0.27%, from $359.0 million on December 31, 2024.   Cash and cash equivalents decreased $788,000 or 3.22%, from December 31, 2024, to March 31, 2025. Investment securities were $106.6 million on March 31, 2025, a decrease of $1.3 million or 1.23%, from $107.9 million on December 31, 2024.   Loans, net of deferred fees and costs, were $207.4 million on March 31, 2025, an increase of $2.2 million or 1.06%, from $205.2 million on December 31, 2024.   Loan balances increased 16.52% over the last four quarters, growing from $178.0 million on March 31, 2024 to $207.4 million on March 31, 2025. With the $20 million reduction in short term borrowings over the past twelve months, average earning-asset balances declined slightly to $356.2 million on March 31, 2025, as compared to $362.0 million during the prior-year first quarter.

    Total deposits were $317.3 million on March 31, 2025, an increase of $8.1 million or 2.61%, from $309.2 million on December 31, 2024. Noninterest-bearing deposits were $104.5 million on March 31, 2025, an increase of $3.7 million or 3.71%, from $100.7 million on December 31, 2024.   Interest-bearing deposits were $212.8 million on March 31, 2025, an increase of $4.4 million or 2.08%, from $208.4 million on December 31, 2024. Total borrowings were $20.0 million on March 31, 2025, a decrease of $10.0 million, or 33.33% from $30.0 million on December 31, 2024.

    As of March 31, 2025, total stockholders’ equity was $19.2 million (5.36% of total assets), equivalent to a book value of $6.61 per common share. Total stockholders’ equity on December 31, 2024, was $17.8 million (4.96% of total assets), equivalent to a book value of $6.14 per common share. The increase in the ratio of stockholders’ equity to total assets was due to an increase in equity from the decline in the market value loss of the Company’s available-for-sale securities portfolio. Included in stockholders’ equity on March 31, 2025, and December 31, 2024, were unrealized losses (net of taxes) on the Company’s available-for-sale investment securities totaling $17.8 million and $19.0 million, respectively. This decrease in unrealized losses primarily resulted from decreasing market interest rates during the first quarter of 2025, which increased the fair value of the investment securities. Changes in unrealized losses on the investment portfolio are attributed to changes in interest rates, not credit quality. The Company does not intend to sell, and it is more likely than not that it will not be required to sell any securities held at an unrealized loss.

    Asset quality, which has trended within a narrow range over the past several years, remains sound on March 31, 2025. Nonperforming assets, which consist of nonaccrual loans, restructured loans to borrowers with financial difficulty, accruing loans past due 90 days or more, and other real estate owned, represented 0.32% of total assets on March 31, 2025, as compared to 0.10% on December 31, 2024, demonstrating positive asset quality trends across the portfolio.   The allowance for credit losses on loans was $2.7 million, or 1.30% of total loans, as of March 31, 2025, as compared to $2.8 million, or 1.38% of total loans, as of December 31, 2024. The allowance for credit losses for unfunded commitments was $110,000 as of March 31, 2025, as compared to $584,000 as of December 31, 2024. The $474,000 decrease was primarily driven by the utilization of 1.33% lower loss rates during the first quarter of 2025 as compared to the fourth quarter of 2024.

    Review of Financial Results

    For the three-month periods ended March 31, 2025, and 2024

    Net income for the three-month period ended March 31, 2025, was $153,000, as compared to net income of $3,000 for the three-month period ended March 31, 2024.   The increase is primarily the result of a $315,000 decrease in the allowance for credit loss and $474,000 decrease in the allowance for unfunded commitments included in other noninterest expenses, partially offset by a $209,000 increase in salary and employee benefits costs, a $129,000 increase in legal, accounting and other professional fees, and a $203,000 decrease in income tax benefit.  

    The Company is taking steps to reduce non-interest expenses in future periods which include the January 2025 closure of our Linthicum branch office, the planned closing of our Severna Park branch office in May of 2025, and the recent announcement of an early retirement program.

    Net interest income for the three-month period ended March 31, 2025, totaled $2.56 million, as compared to $2.57 million for the three-month period ended March 31, 2024. The $8,000 decrease in net interest income was primarily due to the $439,000 increase in interest expense related to higher balances on money market deposits, $193,000 lower interest and dividends on securities due to principal paydowns, and $77,000 lower interest on deposits with banks due to lower cash balances, offset by $494,000 higher interest income on loans due to higher yields and balances, and $206,000 lower interest on short term borrowings due to lower borrowing balances.

    Net interest margin for the three-month period ended March 31, 2025, was 2.92%, as compared to 2.86% for the same period of 2024, an increase of 0.06%. The increase in the net interest margin is primarily due to increases in the yield on loans, offset by increases in yields on interest-bearing deposits and borrowed funds. Loan yields increased from 5.06% to 5.34% between the two periods while the cost of interest-bearing liabilities increased from 1.51% to 1.89% between the two periods.  

    The average balance of interest-earning assets decreased $5.8 million while the yield increased 0.35% from 3.78% to 4.13%, when comparing the three-month periods ended March 31, 2025, and 2024, respectively. The average balance of interest-bearing funds increased $7.6 million during these same periods. The average balance of noninterest-bearing funds decreased $12.9 million, and the cost of funds increased 0.31%, when comparing the three-month periods ended March 31, 2025, and 2024.

    The release of credit loss allowance on loans for the three-month period ended March 31, 2025, was $146,000, as compared to a provision of credit loss allowance of $169,000 for the same period of 2024. The decrease for the three-month period ended March 31, 2025, when compared to the three-month period ended March 31, 2024, primarily reflects the use of a lower loss rate. Noninterest income for the three-month period ended March 31, 2025, was $205,000, as compared to $229,000 for the three-month period ended March 31, 2024.

    For the quarter ended March 31, 2025, noninterest expense totaled $2.8 million, a decrease of $69,000 compared to $2.9 million for the quarter ended March 31, 2024. On a year-over-year comparative basis, noninterest expenses decreased due to a $474,000 decrease in the credit allowance for unfunded commitments, partially offset by a $209,000 increase in salary and employee benefits and $129,000 increase in legal, accounting, and other professional fees. Salary and employee benefits expenses increased primarily due to increased employee wages and the cost of incentive programs.

    For the three-month period ended March 31, 2025, income tax benefit was $29,000, as compared with $232,000 for the same period a year earlier.   The $232,000 income tax benefit included $87,000 associated with amended Maryland tax returns for tax years 2022 and 2021.

    Glen Burnie Bancorp Information

    Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with seven branch offices serving Anne Arundel County. The Bank is engaged in the commercial and retail banking business including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships, and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers. Additional information is available at www.thebankofglenburnie.com.

    Forward-Looking Statements

    The statements contained herein that are not historical financial information may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, which could cause the Company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. For a more complete discussion of these and other risk factors, please see the Company’s reports filed with the Securities and Exchange Commission.

             
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
    (dollars in thousands)
               
      March 31,   March 31,   December 31,
        2025       2024       2024  
      (unaudited)   (unaudited)   (audited)
    ASSETS          
    Cash and due from banks $ 1,792     $ 9,091     $ 2,012  
    Interest-bearing deposits in other financial institutions   21,884       33,537       22,452  
       Total Cash and Cash Equivalents   23,676       42,628       24,464  
               
    Investment securities available for sale, at fair value   106,623       128,727       107,949  
    Restricted equity securities, at cost   1,201       246       1,671  
               
    Loans, net of deferred fees and costs   207,393       177,950       205,219  
    Less: Allowance for credit losses(1)   (2,689 )     (2,035 )     (2,839 )
       Loans, net   204,704       175,915       202,380  
               
    Premises and equipment, net   2,609       2,928       2,678  
    Bank owned life insurance   8,877       8,700       8,834  
    Deferred tax assets, net   8,088       8,255       8,548  
    Accrued interest receivable   1,243       1,281       1,345  
    Accrued taxes receivable   159       363       148  
    Prepaid expenses   474       460       471  
    Other assets   319       367       468  
       Total Assets $ 357,973     $ 369,870     $ 358,956  
               
    LIABILITIES          
    Noninterest-bearing deposits $ 104,487     $ 115,167     $ 100,747  
    Interest-bearing deposits   212,770       194,064       208,442  
    Total Deposits   317,257       309,231       309,189  
               
    Short-term borrowings   20,000       40,000       30,000  
    Defined pension liability   338       327       330  
    Accrued expenses and other liabilities   1,197       2,183       1,620  
       Total Liabilities   338,792       351,741       341,139  
               
    STOCKHOLDERS’ EQUITY          
    Common stock, par value $1, authorized 15,000,000 shares, issued and outstanding 2,900,681, 2,887,467, and 2,900,481 shares as of March 31, 2025, March 31, 2024, and December 31, 2024, respectively.   2,901       2,887       2,901  
    Additional paid-in capital   11,037       10,989       11,037  
    Retained earnings   23,035       23,575       22,882  
    Accumulated other comprehensive loss   (17,792 )     (19,322 )     (19,003 )
       Total Stockholders’ Equity   19,181       18,129       17,817  
       Total Liabilities and Stockholders’ Equity $ 357,973     $ 369,870     $ 358,956  
               
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF (LOSS) INCOME
    (dollars in thousands, except per share amounts)
    (unaudited)
             
         Three Months Ended
    March 31,
          2025       2024  
    Interest income        
    Interest and fees on loans   $ 2,709     $ 2,215  
    Interest and dividends on securities     745       938  
    Interest on deposits with banks and federal funds sold     175       252  
    Total Interest Income     3,629       3,405  
             
    Interest expense        
    Interest on deposits     841       402  
    Interest on short-term borrowings     225       431  
    Total Interest Expense     1,066       833  
             
    Net Interest Income     2,563       2,572  
    (Release) provision of credit loss allowance     (146 )     169  
    Net interest income after credit loss provision     2,709       2,403  
             
    Noninterest income        
    Service charges on deposit accounts     31       38  
    Other fees and commissions     131       148  
    Income on life insurance     43       43  
    Total Noninterest Income     205       229  
             
    Noninterest expenses        
    Salary and employee benefits     1,827       1,618  
    Occupancy and equipment expenses     309       331  
    Legal, accounting and other professional fees     383       254  
    Data processing and item processing services     256       250  
    FDIC insurance costs     41       38  
    Advertising and marketing related expenses     37       23  
    Loan collection costs     45       5  
    Telephone costs     38       40  
    Other expenses     (146 )     302  
    Total Noninterest Expenses     2,790       2,861  
             
    Loss before income taxes     124       (229 )
    Income tax beneift     (29 )     (232 )
             
       Net income   $ 153     $ 3  
             
    Basic and diluted net income per common share   $ 0.05     $ –  
             
    GLEN BURNIE BANCORP AND SUBSIDIARY            
    CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY
    For the three months ended March 31, 2025 and 2024            
    (dollars in thousands)                  
                         
                    Accumulated    
            Additional       Other   Total
        Common   Paid-in   Retained   Comprehensive   Stockholders’
    (unaudited) Stock   Capital   Earnings   Loss   Equity
    Balance, December 31, 2023 $ 2,883   $ 10,964   $ 23,859     $ (18,381 )   $ 19,325  
                         
    Net income   –     –     3       –       3  
    Cash dividends, $0.10 per share   –     –     (287 )     –       (287 )
    Dividends reinvested under dividend reinvestment plan   4     25     –       –       29  
    Other comprehensive loss   –     –     –       (941 )     (941 )
    Balance, March 31, 2024 $ 2,887   $ 10,989   $ 23,575     $ (19,322 )   $ 18,129  
                         
                         
                    Accumulated    
            Additional       Other   Total
        Common   Paid-in   Retained   Comprehensive   Stockholders’
    (unaudited) Stock   Capital   Earnings   (Loss) Income   Equity
    Balance, December 31, 2024 $ 2,901   $ 11,037   $ 22,882     $ (19,003 )   $ 17,817  
                         
    Net income   –     –     153       –       153  
    Other comprehensive income   –     –     –       1,211       1,211  
    Balance, March 31, 2025 $ 2,901   $ 11,037   $ 23,035     $ (17,792 )   $ 19,181  
                         
    GLEN BURNIE BANCORP AND SUBSIDIARY
    SELECTED FINANCIAL DATA
    (dollars in thousands, except per share amounts)
                     
        Three Months Ended   Year Ended
        March 31,   December 31,   March 31,   December 31,
          2025       2024       2024       2024  
        (unaudited)   (unaudited)   (unaudited)   (unaudited)
                     
    Financial Data                
    Assets   $ 357,973     $ 358,956     $ 369,870     $ 358,956  
    Investment securities     106,623       107,949       128,727       107,949  
    Loans, (net of deferred fees & costs)     207,393       205,219       177,950       205,219  
    Allowance for loan losses     2,689       2,839       2,035       2,839  
    Deposits     317,257       309,189       309,231       309,189  
    Borrowings     20,000       30,000       40,000       30,000  
    Stockholders’ equity     19,181       17,817       18,129       17,817  
    Net income (loss)     153       (39 )     3       (112 )
                     
    Average Balances                
    Assets   $ 353,308     $ 366,888     $ 358,877     $ 363,994  
    Investment securities     132,805       136,868       163,618       148,037  
    Loans, (net of deferred fees & costs)     205,868       204,703       175,914       192,646  
    Deposits     312,030       314,046       305,858       309,838  
    Borrowings     20,215       30,323       31,667       32,721  
    Stockholders’ equity     19,258       20,664       19,124       19,169  
                     
    Performance Ratios                
    Annualized return on average assets     0.17%       -0.04%       0.00%       -0.03%  
    Annualized return on average equity     3.22%       -0.75%       0.06%       -0.58%  
    Net interest margin     2.92%       2.98%       2.86%       2.98%  
    Dividend payout ratio     0%       0%       9426%       -773%  
    Book value per share   $ 6.61     $ 6.14     $ 6.28     $ 6.14  
    Basic and diluted net income (loss) per share     0.05       (0.01 )     –       (0.04 )
    Cash dividends declared per share     0.00       0.00       0.10       0.30  
    Basic and diluted weighted average shares outstanding     2,900,681       2,900,681       2,885,552       2,893,871  
                     
    Asset Quality Ratios                
    Allowance for loan losses to loans     1.30%       1.38%       1.14%       1.38%  
    Nonperforming loans to avg. loans     0.55%       0.18%       0.21%       0.19%  
    Allowance for loan losses to nonaccrual & 90+ past due loans     236.9%       789.1%       549.1%       789.1%  
    Net charge-offs (recoveries) annualize to avg. loans     0.01%       -0.04 %     0.66%       0.08%  
                     
    Capital Ratios                
    Common Equity Tier 1 Capital   N/A     15.15%       17.14%       15.15%  
    Tier 1 Risk-based Capital Ratio   N/A     15.15%       17.14%       15.15%  
    Leverage Ratio   N/A     9.97%       10.43%       9.97%  
    Total Risk-Based Capital Ratio   N/A     16.40%       18.30%       16.40%  
                     

    The MIL Network –

  • MIL-OSI: UPDATE – Abundance Energy, SOLRITE Energy, and sonnen Develop Residential Battery-Enabled Virtual Power Plants in Texas

    Source: GlobeNewswire (MIL-OSI)

    STONE MOUNTAIN, Ga., May 07, 2025 (GLOBE NEWSWIRE) — Abundance Energy, sonnen, SOLRITE Energy, and Energywell Technology Licensing, LLC (“Energywell”) are joining forces to power the future of energy through the development of behind-the-meter, battery-enabled Virtual Power Plants (“VPP”) in Texas.

    The collaboration empowers Abundance Energy customers to use their sonnenConnect home batteries to support grid stability, ensure reliable energy delivery, and lower electricity costs while driving the development of smart, sustainable energy solutions.

    Enabled by SOLRITE Energy’s innovative virtual power plant purchase agreement (VPA) financing model, participants can install solar panels and sonnen battery systems at no upfront cost, lowering barriers to entry for this VPP program. sonnen and SOLRITE first introduced this novel VPA structure to the Texas market in January 2025.

    Optimized through the integration of Energywell’s Proton platform with sonnen’s advanced control technology, each battery is continuously managed in response to market price signals, customer usage, and solar generation. Networked together, these batteries create a VPP, dynamically balancing energy supply and demand to maximize value for both the grid and the customer. Under the VPA financing model, SOLRITE owns and manages all the customer solar and sonnen energy storage systems and customers in turn receive the benefit of low energy costs and reliable back-up power.

    “Our mission is to empower homeowners with smarter, more sustainable energy solutions,” said Thomas Mandry, CEO of Abundance Energy. “By combining sonnen’s best-in-class battery technology, Energywell’s market expertise through its Proton platform, and SOLRITE’s unique financing model, we are delivering an innovative VPP model that benefits both customers and the Texas grid.”

    sonnen’s VPP technology intelligently manages energy supply and demand, ensuring stored solar or grid energy is strategically deployed when needed most. “Our VPP solutions enable customers to actively participate in the energy market while maintaining resilience in their homes,” said Blake Richetta, Chairman and CEO of sonnen. “With Abundance Energy, SOLRITE, and Energywell, we’re setting a new standard for residential energy management.”

    “At SOLRITE, we believe financial innovation is key to unlocking the full potential of distributed energy,” said Regan George, CEO of SOLRITE Energy. “By eliminating upfront costs for solar and battery installations, we enable more homeowners to participate in this VPP program, delivering clean, reliable power to customers and adding value to the grid.”

    Energywell’s Proton platform provides advanced forecasting and optimization tools to ensure batteries are dispatched in alignment with market opportunities. “The Texas energy landscape is evolving, and this partnership exemplifies the future of distributed energy,” said Michael Fallquist, CEO of Energywell. “By optimizing stored energy, we are reducing reliance on fossil fuels and lowering carbon emissions, building a smarter, cleaner, and more flexible grid.”

    This VPP initiative aligns with Texas’ growing demand for resilient, customer-driven energy solutions and paves the way for further innovation in the residential energy sector.

    About SOLRITE

    SOLRITE Energy is a clean energy financing company pioneering new ways to make solar and battery storage accessible to homeowners. Its flagship Virtual Power Plant Power Purchase Agreement (VPA), developed with sonnen, provides solar panels and home battery systems at no upfront cost in exchange for a low, fixed energy rate. By partnering with retail electric providers and technology companies, SOLRITE makes sustainable energy solutions accessible while supporting grid reliability. Visit solriteenergy.com for more information.

    About Abundance Energy

    Abundance Energy is a digital-native Retail Electric Provider (REP) startup licensed for operations in Texas. Abundance’s products include transparent fixed-rate residential plans and multi-meter Continuous Service Agreement plans for vacant property management with a built-to-purpose CSA customer platform. Abundance is part of the Quext family of companies that includes next-generation LoRaWAN proprietary IoT thermostats and smart locks for the multifamily market. Visit abundanceenergy.com for more information.

    About sonnen

    sonnen is one of the world’s leading manufacturers of smart energy storage systems for residential applications, and a pioneer of the residential battery based virtual power plant. The sonnen VPP is nationally recognized as a blueprint for the decentralized, digitalized, decarbonized energy system of the future. sonnen is one of the most experienced and fastest growing VPP energy storage companies in the world. sonnen has received many internationally recognized awards celebrating our technological achievement. sonnen products and services are used by the sonnenCommunity, a collection of visionaries around the world who share our vision of clean and affordable energy for everyone. In Texas, sonnen partners with SOLRITE Energy to bring their flagship Virtual Power Plant Power Purchase Agreement (VPA), to provide solar panels and home battery systems at no upfront cost.

    sonnen’s offices are located in Germany, Italy, Spain, Australia, and the USA. sonnen is a wholly owned subsidiary of Shell. Learn more at: https://sonnenusa.com/en

    About Energywell

    Energywell is an energy technology company powering the sustainable energy transition. Energywell combines the financial strength of funds managed by Oaktree Capital Management, L.P. and capital and commodities expertise from Hartree Partners L.P. with proprietary technology and a seasoned team of energy industry veterans. Visit Energywell.com for more information.

    About Proton

    Energywell’s Proton platform delivers real-time energy insights and seamless device integration, empowering businesses and customers to optimize energy more sustainably. Proton uses cloud-native, event-driven architecture to ensure energy solutions scale quickly while maintaining the highest standards of security, including SOC 2 Type 2 compliance. Proton is available for licensing for third parties looking to accelerate their own energy management capabilities. Visit Energywell.com for more information.

    Media contact:

    FischTank PR

    sonnen@fischtankpr.com

    The MIL Network –

  • MIL-OSI United Kingdom: SNP must go further for people and planet

    Source: Scottish Greens

    07 May 2025 Climate

    The SNP needs to show the ambition that our planet needs.

    More in Climate

    The SNP must go further for people and planet, says Scottish Greens co-leader Lorna Slater.

    Speaking in parliament today during a debate on the Scottish Government’s Programme for Government, Ms Slater called for action to rapidly reduce carbon emissions and put money in people’s pockets.

    Opening her speech, Ms Slater said: 

    “The Scottish Government cannot be timid in its response to the challenges we face. We are facing profound threats and we need profound answers. It isn’t enough to try to do the same thing faster with ever-reducing resources.

    “It is possible to build a fairer and greener Scotland, and we need a brave and bold Government to do this.

    “Greener means rapidly reducing emissions and restoring our depleted nature. Fairer means redistributing wealth and opportunity so that homes are affordable, work pays fair wages, and ensures that our social security net allows everyone to live with dignity.

    “It means practical measures to get money back in people’s pockets, and reduce poverty.”

    Lorna went on to highlight the positives in the Programme for Government that Scottish Green policies and campaigning were central to securing.

    Ms Slater added: 

    “There are some good examples of these policies in this Programme for Government, including a permanent end to peak rail fares – a policy first brought in by the Scottish Greens in October 2023.”

    Ms Slater used her speech to voice her concerns that the SNP are not going far enough with their commitments, seeming to be rolling back progressive policy instead.

    Ms Slater concluded: 

    “This Government does not always seem willing to do the hard things we need to do to build a fairer, greener Scotland and, frankly, we’re running out of tomorrows.

    “Scotland is unfair for so many people and the Scottish Government could do more to make it fairer.

    “For example, with greater ambition to deliver warmer homes and cheaper energy bills. Through proper rent controls which end rip-off rents and protect renters.

    “We need an ambitious plan to effectively tax wealth in Scotland and invest in public services in communities.

    “We need cheaper fares across all public transport, including capped bus fares.

    “With the world and the climate in crisis, people across Scotland will want reassurances that the government is still on their side – and that can’t come from broken promises and scrapped commitments.

    “The Scottish Government can do better than this, and the Scottish Greens will keep pushing them to do so.”

    MIL OSI United Kingdom –

  • MIL-OSI USA: Welch, Colleagues Introduce Bicameral Resolution Demanding Public Input on Radical Upheaval at Federal Health Agencies

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    Senate Resolution Calls on Trump Administration to Reverse Course on Richardson Waiver, Mirroring 1980s Effort to Boost Transparency
    WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, last week joined Senators Ron Wyden (D-Ore.), Ed Markey (D-Mass.), Angus King (I-Maine) and 15 Senators in introducing a bicameral resolution calling on the Trump Administration to reverse course on a decision to stop seeking public input on many major changes to programs and policies overseen by the Department of Health and Human Services (HHS). The Trump Administration’s actions break with decades of precedent that have allowed the public and health care organizations to make their voices heard. 
    “Donald Trump and Robert Kennedy Jr. are taking a wrecking ball to our health care system. Their cruel actions will destroy HHS’ capacity to deliver services that are essential to the well-being of the American people—including tearing down the long-standing tradition of giving patients a voice in decisions about their health care. If the goal is to have more efficiency, better service, and better outcomes for patients, this is a backwards way to do it,” said Senator Welch. “The Trump Administration must immediately retract this disastrous policy and prioritize people’s lives over power grabs.” 
    “Robert Kennedy promised radical transparency when he became HHS Secretary – instead he has delivered radical secrecy,” said Senator Wyden. “Rather than throw open the doors of government, RFK Jr. has shut the gates, locking out doctors, patient advocates, and everyday Americans from weighing in on the chaotic disruption of America’s health care that the Trump administration is pursuing. Trump and Kennedy should follow the example of Ronald Reagan and reverse course on this disastrous decision to plug their ears to the critical feedback of medical professionals, health care providers, and concerned citizens.” 
    “People deserve a voice in their health care because it is their lives that are impacted when decisions are made,” said Senator Markey. “But Robert Kennedy Jr. and Donald Trump are tearing into our health care system, making it harder for people to get care, and trying to do so in secret. Donald Trump is not king, and he and his administration are accountable to the people. The stakes are too high for secrecy. Trump and Kennedy must reverse course and hear from the American people who they have an obligation to serve.”    
    “Public comment periods are a key component of our First Amendment rights and demonstrate a commitment to an engaged public to wise, representative government,” said Senator King. “Recent mass layoffs and pushes to dismantle key federal health care programs add burdens and pose risks to everyday Americans; those citizens who rely on the safeguards provided by the government have the right to be heard about decisions that affect hundreds of millions of lives. Right now, we need to be focusing on making our government more transparent, not sidelining the voices of care providers, medical professionals and concerned citizens. Rule reversals like this one won’t help ‘Make America Healthy Again,’ but it will lead to harmful, avoidable consequences for our nation’s public health.” 
    In early March, HHS reversed its long-standing practice of taking public comments on everything from proposed rules, grants, loans, and contracts to the structure of the agency itself. This came into full view when Secretary Kennedy announced a mass wave of firings and closures of dozens of offices across the agency that work on matters related to supporting seniors, cancer and infectious disease research and more. 
    The resolution would express the sense of the Senate that the Trump Administration should withdraw the change in policy that would significantly reduce public notice and comment, limit public engagement on new regulations at HHS, and allow HHS to take actions that will have immediate impacts on the health care system and the people it serves without soliciting public input. The text of the resolution mirrors a bipartisan resolution that was introduced in the House in 1982, which led HHS under the Reagan Administration to reverse course on a similar action to limit public input on rulemaking at the agency. 
    Joining Senators Welch, Wyden, Markey, and King on the resolution are Senators Amy Klobuchar (D-Minn.), Jeff Merkley (D-Ore.), Mazie Hirono (D-Hawaii), Cory Booker (D-N.J.), Jacky Rosen (D-Nev.), Elizabeth Warren (D-Mass.), Chris Van Hollen (D-Md.), Richard Blumenthal (D-Conn.), Tina Smith (D-Minn.), Lisa Blunt Rochester (D-Del.), Angela Alsobrooks (D-Md.), Ben Ray Luján (D-N.M.), Sheldon Whitehouse (D-R.I.), Kirsten Gillibrand (D-N.Y.), and Mark Warner (D-Va). 
    The House of Representatives introduced a companion resolution, led by U.S. Representatives Lizzie Fletcher (D-TX-07), Gabe Amo (D-RI-01), and Mike Quigley (D-IL-05). 
    Endorsing organizations and statements of support can be found here.  
    Read and download the full text of the resolution. 

    MIL OSI USA News –

  • MIL-OSI Africa: Report on George building collapse expected by month-end

    Source: South Africa News Agency

    Public Works and Infrastructure Minister Dean Macpherson says a report on the collapse of the George building conducted by the Council for the Built Environment and its body, the Engineering Council of South Africa, is expected to be completed by the end of May.

    This, as Tuesday marked the one-year anniversary of the building collapse which claimed the lives of 34 people and seriously injured a further 28.

    Macpherson said government’s responsibility now was to fix what is broken and ensure that those responsible are held accountable.

    “That is why I have insisted that transparency guides our work, and that those who fail in their duties, whether public servants or professionals, must face the consequences,” the Minister said.

    Last month an independent forensic investigation into the building collapse in the Western Cape revealed systemic failures at multiple levels.

    The report cited widespread non-compliance with regulatory standards and mismanagement by both the National Home Builders Registration Council (NHBRC) and project personnel as key causes of the incident.

    The findings, presented by Human Settlements Minister, Thembi Simelane, revealed a series of procedural and structural failures, including irregular project enrolment, inspection lapses, poor material quality, and violations of occupational health and safety (OHS) protocols.

    Speaking at the one-year commemoration at the George Town Hall collapse on Tuesday, Macpherson said all role-players should work together to achieve justice for the victims and their families.

    “We remember every life lost. We mourn every dream of a future life that was cut short that day. We honour and thank our brave men and women, as well as canines in the South African Police Service, who worked day and night to lead the rescue and recovery effort at that site,” Macpherson said.

    He thanked Captain Johan de Lange and his team of investigators for building a strong legal case in search of justice for the victims.

    “We honour the brave men and women from our emergency services who worked tirelessly for 11 days in an attempt to save those trapped under the rubble.

    “They are heroes who worked through the most difficult circumstances, day and night, to rescue survivors. We feel the pain of families whose fathers did not come home to read their daughters and sons bedtime stories, or to kiss their wives goodnight.

    “We are weighed down by the lifelong wait until we see them again in heaven. And we recognise every survivor who carries the physical and emotional scars of that day. This tragedy should never have happened.”

    He said the pain, trauma, and human tragedy that occurred called on all to work together. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: KwaZulu-Natal reaffirms mission to tackle rampant crime

    Source: South Africa News Agency

    KwaZulu-Natal Premier Thamsanqa Ntuli has reaffirmed the Council Against Crime’s (CAC) central mission to foster inter-sectoral collaboration, implement proactive interventions, and drive community-centred crime prevention strategies across the province.

    Speaking in his capacity as Chairperson of the CAC, Ntuli led the Council’s third official sitting at the Archie Gumede Conference Centre in Mayville, west Durban.

    The meeting, held on Tuesday, brought together law enforcement leaders, including government officials, and community representatives to strengthen KwaZulu-Natal’s united front in the fight against crime.

    Established in November 2024, the Council Against Crime has become a key instrument in KwaZulu-Natal’s mission to tackle rampant crime, stem illegal activities, and ensure public safety.

    A significant milestone of the sitting was the formal adoption of the Council’s Terms of Reference (TORs), a strategic framework that will guide the Council’s mandate, ensure accountability, and track measurable progress.

    Ntuli commended the collaborative efforts of all stakeholders, especially during the 2025 Easter period, where coordinated law enforcement operations contributed to a notable sharp decline in road fatalities – from 47 in 2024 to 27 in 2025.

    He also acknowledged the critical role played by the South African Police Service (SAPS), including traffic enforcement teams, and responsible road users, who contributed to a safer holiday period.

    However, Ntuli warned that while progress has been made, more work remains, as the province was still faced with growing criminal acts.

    “We are still faced with growing threats including cash-in-transit heists, cybercrime, and the continued scourge of gender-based violence and femicide. The recent murder of Sergeant Sanele Dlamini, a member of the Presidential Protection Services, is a painful reminder of the dangers our officers face,” Ntuli said.

    The Premier further raised concern about the socio-economic impact of illegal immigration, reaffirming the province’s determination to implement its offensive under the slogan “Engangeni ngesango iyafohla” [He who does not come through proper channels is forcing].

    He emphasised that no developing country can thrive while its systems are undermined by unchecked, unlawful migration.

    Ntuli called for a collective attitude shift within communities, noting that lasting change requires both enforcement and societal transformation.

    “Without peace and stability, we cannot grow our economy, create jobs, or end poverty. The people of KwaZulu-Natal are depending on this Council to help realise their aspirations for a safer, more dignified life,” Ntuli said.

    As KwaZulu-Natal battles complex criminal threats, the Premier added that Council Against Crime is positioned as a catalyst for restoring public confidence, enhancing safety, and building a crime-free province for all. – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI: AI Uncovers $27B Risk in Appraisals: Restb.ai White Paper Finds Flawed Condition and Quality Adjustments

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, May 07, 2025 (GLOBE NEWSWIRE) — A new Restb.ai White Paper released today analyzes more than 1,200 real estate appraisals to reveal for the first time over $27 billion in potential hidden financial risk tied to flawed property condition and quality adjustments – exposing a major blind spot in the real estate and mortgage ecosystem.

    The new Restb.ai study uncovers widespread inconsistencies and transparency issues in how appraisers assess and adjust for a property’s physical condition and quality, two factors that directly impact property valuation, borrower equity, and lender risk. Crucially, the White Paper provides deep insight into how appraisers can leverage computer vision to mitigate risks using objective image-based scoring to detect and justify condition and quality adjustments with greater precision.

    The study’s findings echo recent warnings from Fannie Mae, which identified condition and quality misreporting as one of its top three appraisal quality concerns.

    “The scale of flawed condition and quality adjustments in appraisals is bigger than most people realize,” said Nathan Brannen, Chief Product Officer at Restb.ai. “Most AMCs and lenders simply don’t have a quick and easy way to check for these issues, so they ignore the problem and hope for the best. AI finally offers a solution to efficiently manage this risk.”

    Unlocking new findings from appraisals
    Using its proprietary computer vision technology, Restb.ai analyzed 1,271 appraisals and 6,495 comparable properties and uncovered:

    • 1 in 3 appraisals contains a major risk tied to condition or quality adjustments that don’t match the actual property.
    • Nearly 3 out of 4 appraisals show warning signs of inconsistencies that could lead to inaccurate valuations.
    • Most homes were lumped into just two categories for condition (86%) and quality (97%), making it difficult to identify the real differences that could affect property value.
    • Adjustments were made even when properties had identical condition or quality scores – 11.8% for condition and 5.3% for quality – raising questions about consistency and transparency.

    The study warns that these patterns can lead to systematic overvaluations or undervaluations, which carry legal, reputational, and financial risks for lenders and appraisal management companies.

    Supporting appraiser empowerment to reduce risk
    The Restb.ai White Paper on quality and condition findings come at a pivotal moment as the GSEs advance appraisal modernization and shift toward component-based scoring. The study provides indisputable statistical evidence demonstrating that AI-powered computer vision is a vital resource for appraisers – helping them tackle one of the industry’s most persistent and historically costly challenges with greater consistency, precision, and confidence.

    “Automated, scalable risk detection is no longer a luxury – it’s now a necessity,” said Tony Pistilli, President, Valuation at Restb.ai. “By integrating computer vision into appraisal workflows, high-risk files can be flagged by lenders earlier, protect against repurchase claims, and promote fairer outcomes for consumers.”

    The White Paper shows that implementation of AI tools can improve appraisal quality, enhance compliance, and align with evolving GSE requirements, ultimately supporting a more stable and equitable housing finance system.

    A free copy of the Restb.ai White Paper on conditions and quality is available at blog.restb.ai/impact-of-condition-and-quality-on-appraisal-accuracy.

    About Restb.ai
    Restb.ai, the leader in AI-powered computer vision for real estate, provides image recognition and data enrichment solutions for many of the industry’s top brands and leading innovators in the mortgage industry with AI solutions for valuations and appraisals. Its advanced AI-powered technology automatically analyzes property imagery to unlock visual insights at scale – including property conditions – empowering mortgage, valuation, and appraisal firms with relevant and actionable property intelligence. Its proprietary artificial intelligence technology transforms property imagery into actionable insights, helping clients unlock new value from visual data and providing deep insight into each of the 1 million property photos uploaded daily.

    Media contacts:
    Restb.ai
    Maya Makarem | maya@restb.ai
    or
    Kevin Hawkins | WAV Group
    206-866-1220
    kevin@wavgroup.com

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/06854f8f-7e94-4319-84a9-9f75e4140b23

    https://www.globenewswire.com/NewsRoom/AttachmentNg/0eb40f78-8077-41c3-af8a-7eca62a476b7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/8aee103a-cb72-47f4-9848-12af60ac4113

    The MIL Network –

  • MIL-OSI Video: UK Watch live: Lords debates sentencing guidelines

    Source: United Kingdom UK House of Lords (video statements)

    The main purpose of the Sentencing Guidelines (Pre-sentence Reports) Bill is up for debate in the Lords later today.

    Find out more and see who’s taking part https://www.parliament.uk/business/news/2025/april/lords–consider-sentencing-guidelines-legislation/

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
    Read the latest news: https://www.parliament.uk/lords/

    Stay up to date with the House of Lords on social media:

    • X: https://twitter.com/UKHouseofLords
    • Bluesky: https://bsky.app/profile/houseoflords.parliament.uk
    • Instagram: https://www.instagram.com/UKHouseofLords/
    • Facebook: https://www.facebook.com/UKHouseofLords
    • Flickr: https://flickr.com/photos/ukhouseoflords/albums
    • LinkedIn: https://www.linkedin.com/company/the-house-of-lords
    • Threads: https://www.threads.net/@UKHouseOfLords

    #HouseOfLords #UKParliament

    https://www.youtube.com/watch?v=ru3Su9OVKIw

    MIL OSI Video –

  • MIL-OSI Canada: Prime Minister Carney meets with President Trump

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, concluded his visit to Washington, D.C., where he met with the President of the United States of America, Donald J. Trump.

    Prime Minister Carney thanked President Trump for his welcome and hospitality, and the spirit and substance of their extensive discussions. The Prime Minister underscored with the President that Canada and the United States are stronger when we work together.

    Prime Minister Carney and President Trump discussed the immediate trade pressures facing their nations. The Prime Minister stated Canada’s openness to building a new economic and security relationship with the United States – based on respect, built on common interests, and to the benefit of both nations.

    To that end, the Prime Minister and the President agreed to continue discussions over the coming weeks. They looked forward to meeting next month at the G7 Summit in Kananaskis.

    As the Prime Minister returns to Canada, he remains focused on reinforcing Canada’s strength at home. His new government will transform border security, Arctic security, and Canada’s investments in national defence. They will build an economy that creates jobs, grows incomes, and withstands shocks – the strongest economy in the G7.

    Associated Link

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Commemorative plaque for Denis Law

    Source: Scotland – City of Aberdeen

    Scotland’s only winner of the prestigious footballing award Ballon d’Or Denis Law is to be honoured with a commemorative plaque in the area he grew up in Aberdeen.

    Denis Law CBE was born on 24 February 1940 and raised in the Printfield area of Aberdeen, attending the former Powis Academy before moving to England to play for Huddersfield when he was 16. He went on to play for Manchester United, Torino, and Manchester City. Known as The Lawman, he scored 30 goals for Scotland. He died earlier this year, on 17 January 2025.

    The commemorative plaque will be sited at his birthplace at 6B Printfield Terrace. The Denis Law Legacy Trust had made the application which was unanimously agreed today by Aberdeen City Council’s Finance and Resources Committee, going against normal criteria for plaques that the person should have died at least 20 years ago and have been born more than 100 years ago.

    Finance and Resources convener Councillor Alex McLellan said: “Denis especially demonstrated his strong and caring commitment to younger generations by creating a legacy trust. The positive support and opportunities that Denis Law has given through the trust is an enduring way to celebrate our much-loved and much-respected local football hero.

    “Denis Law has been an inspiring role model to so many people as well as being an exceptional footballer – he was and continues to be a hero in Aberdeen and abroad and we are very happy to agree to a commemorative plaque.”

    Aberdeen City Council Co-Leader Councillor Ian Yuill said: “It shows the depth of feeling to Denis Law that the Committee agreed today to go against normal criteria and agreed to a commemorative plaque honouring him.

    “It is fitting he is recognised for all his achievements, not just those on the football pitch.”

    Denis was European footballer of the year and Scotland’s only winner of Ballon d’Or, football’s most prestigious award for individuals. Denis frequently returned home to Aberdeen to his roots with several accolades in his honour. These include the Freedom of the City, featuring in the Sporting Champions section of Provost Skene’s House, and a 4.7m high bronze statue was unveiled in his honour in 2021.

    When Denis received the Freedom of the City in November 2017, more than 15,000 people lined the streets of Aberdeen as he led the annual Christmas lights switch-on parade, following an earlier conferral ceremony at the Beach Ballroom. He said at the time that receiving the Freedom of the City as one of his life’s highlights.

    Denis and his friend Sir Alex Ferguson feature in Provost Skene’s House, which showcases people with links to Aberdeen and the North East who have transformed the wider world.

    The bronze statue of Denis was unveiled by The King himself in the heart of his home city in Marischal Square, beside Provost Skene’s House. Sir Alex Ferguson was at the ceremony to watch the unveiling.

    Denis was known as ‘The King’ for his achievements in football and the statue was sited to be in close proximity to the statue of King Robert the Bruce outside Marischal College – two kings of the city facing each other.

    The legacy of Denis Law continues to be represented within Aberdeen through Denis Law Legacy Trust and its successful Streetsport initiative with Robert Gordon University, as well as the Trust’s Cruyff Courts in partnership with Aberdeen City Council.

    There is also a statue located at Aberdeen Sports Village and the Denis Law Legacy Trail – large-scale murals depicting Law on buildings in Printfield – is to be launched this month (May 2025).

    MIL OSI United Kingdom –

  • MIL-OSI Australia: Free waste disposal options in Canberra

    Source: Northern Territory Police and Fire Services

    You can dispose of e-waste at either Mugga Lane or Mitchell resource management centre.

    In brief:

    • Many household items cannot go in your kerbside bins.
    • There are ways to dispose of these free of charge – even if they are large.
    • This article outlines how you can do this.

    Do you have old household items sitting around that can’t go in your kerbside bins?

    You may not know of the free services you can take advantage of, to declutter your home and save money in the process.

    Free drop-off at resource management centres

    If you’d rather get rid of things yourself, you may be able to drop them to a resource management centre for free.

    Canberra has two resource management centres:

    Both locations are open 7:30am– 5:00pm, seven days a week. They are closed on Good Friday and Christmas Day.

    When dropping your items at the resource management centres, please ensure they are sorted and clearly identifiable.

    There will be a charge for mixed loads which are not easily visible.

    Batteries and items with built-in batteries

    Plenty of household items cannot go in kerbside bins. Batteries, for example, are classed as hazardous waste and can cause fires if disposed of incorrectly.

    There are  many options to dispose of them.

    You can take your batteries and devices with built-in batteries – including damaged or fire affected batteries – to the hazardous waste collection area at either the Mugga Lane or Mitchell resource management centres.

    There are also over 50 B-cycle drop off points for household batteries located around Canberra.

    Find out more about where to drop off batteries.

    Other hazardous waste

    You can also drop off small amounts of other hazardous waste for free. Look out for the hazardous waste collection area at either Mugga Lane or Mitchell resource management centres.

    You can dispose of:

    • liquid hazardous waste, such as aerosol cans (full), caustic materials, household cleaning agents, cooking oils, household pesticides, photographic chemicals, domestic poisons, domestic pool chemicals
    • helium party balloon cylinders
    • fire extinguishers
    • gas bottles
    • paint (see the paintback website for more information)
    • fluorescent tubes (including compact fluorescent tubes and bulbs)
    • automotive fuels.

    Electronic waste (e-waste)

    You can dispose of e-waste, such as computers and laptops, televisions, tablets, mobile phones, printers and gaming consoles, at either Mugga Lane or Mitchell resource management centres.

    There is a limit of 15 items per person (a keyboard, mouse and monitor equals one item).

    You can also dispose of electrical appliances such as kettles, microwaves, toasters, hairdryers, coffee machines, irons and fans for free.

    White goods

    You don’t need to pay to take white goods to either Mugga Lane or Mitchell resource management centres. White goods include items such as fridges, freezers, clothes dryers, washing machines, dishwashers and ovens.

    It’s also worth noting ActewAGL offers a fridge buyback program. Working fridges can be collected for recycling and a $30 rebate applied to the account holder’s electricity account.

    Green waste

    Green waste bin overloaded? You can take your excess green waste to Corkhill Bros for free. This is located at Mugga Lane only.

    Fees apply to oversized (branches or trees larger than 20cm in diameter and/or two metres in length) residential and commercial green waste.

    Find out more about your green waste disposal options.

    Household recycling

    Household recycling can be dropped off for free at the Mugga Lane resource management centre or one of the five recycling drop off centres located at Mitchell, Gungahlin, Belconnen, Woden and Tuggeranong. You can take:

    • paper
    • cardboard
    • glass bottles and jars
    • aluminium and steel cans
    • plastic bottles and containers.

    Corflute signs

    Corflute signs are accepted for free at the corflute collection bins at Mitchell and Mugga Lane resource management centres.

    Please remove any paper, glue, plastic ties, stakes and metal from the signs.

    Find out more about what is accepted at the resource management centres, and how much you can dispose of.

    Give your items a new life

    Remember, if your items can be reused, you may be able to drop them off for free at Goodies Junction – located at both Mitchell and Mugga Lane resource management centres.

    Find out what can be donated to Goodies Junction.

    Still unsure about something? Check out ACT City Services’ A-Z guide to waste and recycling to see what can go where.

    Read more like this

    Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:


    MIL OSI News –

  • MIL-OSI China: China announces fresh policy boost to fuel economic recovery

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

    BEIJING, May 7 — China’s monetary and financial authorities on Wednesday unveiled a raft of supportive measures, including policy rate and reserve requirement ratio (RRR) cuts, as the country stepped up efforts to stabilize markets and sustain economic recovery amid external headwinds.

    In one of its key policy actions, the People’s Bank of China (PBOC), the country’s central bank, announced an RRR cut of 0.5 percentage points for eligible financial institutions from May 15. Notably, the RRR for auto financing and financial leasing companies will be slashed from 5 percent to 0 percent.

    PBOC Governor Pan Gongsheng told a press conference that this move is expected to provide the financial market with roughly 1 trillion yuan (about 138.9 billion U.S. dollars) in long-term liquidity.

    PBOC on Wednesday also announced its decision to cut the rate for seven-day reverse repos by 0.1 percentage points starting Thursday to better implement the moderately loose monetary policy and enhance support for the real economy.

    Pan said this policy rate reduction is expected to result in the loan prime rate (LPR), a market-based benchmark lending rate, dropping by 0.1 percentage points.

    More financial support, meanwhile, will be given to sectors including tech innovation, service consumption and elderly care via relending — with relending rates lowered by 0.25 percentage points from Wednesday, the central bank said.

    These announcements followed a high-level meeting of Chinese policymakers in late April that called for faster implementation of more proactive and effective macro policies, ample liquidity and stronger support for the real economy, after an encouraging 5.4-percent GDP expansion witnessed in the first quarter of 2025.

    “The foundation for China’s sustained economic recovery needs to be further consolidated, and the country faces an increasing impact from external shocks,” said the meeting of the Political Bureau of the Communist Party of China Central Committee.

    Pan said Wednesday’s policy decisions will steadily lower overall social financing costs, boost market confidence, and effectively support stable expansion of the real economy.

    CAPITAL MARKET BOOST

    Also speaking to the press, Wu Qing, head of the China Securities Regulatory Commission (CSRC), pledged efforts to keep capital markets stable and active, noting that the commission will help listed companies affected by tariffs cope with challenges.

    Relevant authorities will support listed companies in using various financing instruments such as equities, bonds and real estate investment trusts (REITs) to conduct direct financing, and encourage eligible domestic enterprises to pursue overseas listings in compliance with laws and regulations, Wu told the media.

    Financial institutions and tech firms, as well as private equity and venture capital firms, will be allowed to issue technological innovation bonds, with funds raised in this manner earmarked for investment and financing in the innovation sector, according to a statement jointly released by the PBOC and the CSRC on Wednesday.

    To further bolster the capital market, the central bank said it will combine the quotas of its two monetary policy tools to make them more convenient and flexible — thereby strengthening the inherent stability of the capital market.

    The Securities, Funds and Insurance companies Swap Facility (SFISF), with an initial scale of 500 billion yuan, and the 300-billion-yuan relending facility that supports stock buybacks and shareholding increases, will be operated under a shared quota of 800 billion yuan from Wednesday onwards.

    At the same press conference, Li Yunze, head of the National Financial Regulatory Administration, said the administration will continue to expand the pilot program for long-term investment by insurance funds.

    An additional 60 billion yuan in quotas is expected to be approved in the near term, injecting fresh liquidity into the market, Li revealed.

    “We have solid economic fundamentals, sound macro policies, and reliable institutional guarantees, all injecting much-needed certainty into China’s economy and capital markets amid global uncertainties,” Wu said.

    PROPERTY MARKET CONSOLIDATION

    Chinese authorities will also expedite the rollout of a series of financing systems aligned with the new development model of its property sector, reinforcing efforts to stabilize the property market, Li said at the media conference.

    Loans approved for China’s “white list” real estate projects have reached 6.7 trillion yuan, which facilitated the construction and delivery of over 16 million homes, significantly stemming the property sector downturn and restoring market stability, Li said.

    An official survey covering 70 major Chinese cities showed that commercial home prices in March this year had risen in more cities compared with a month earlier, as transactions in the real estate market revealed greater vibrancy.

    To consolidate this trend, PBOC said it will lower interest rates on personal housing provident fund loans by 0.25 percentage points starting Thursday.

    This adjustment is expected to save homeowners more than 20 billion yuan per year in terms of interest payments, thus supporting the rigid demands of Chinese households, Pan told the press.

    MIL OSI China News –

  • MIL-OSI: Rudy R. Miller Among Most Generous Donors to National Museum of the United States Army Campaign

    Source: GlobeNewswire (MIL-OSI)

    FORT BELVOIR, Va., May 07, 2025 (GLOBE NEWSWIRE) — The Army Historical Foundation announced that Rudy R. Miller has presented a gift to the campaign for the National Museum of the United States Army that qualifies him for the Foundation’s One-Star Circle of Distinction. The Museum, which will debut a special Revolutionary War exhibit in June marking the 250th Birthday of the U.S. Army and next year’s 250th anniversary of the nation’s founding, has been praised as one of the top military museums in the nation.

    Rudy R. Miller stated, “I became a member and early supporter of The Army Historical Foundation and the National Museum of the United States Army a few years ago. In 2024, I was very proud to become a lifetime member of The 1814 Society, which shares a commitment and desire to see the Army’s history preserved and exhibited for future generations. I have great respect for our flag plus symbols of our nation’s freedom and independence.”

    Miller continued, “I was born in Tennessee and raised in Virginia. My grandfather, father, uncle, brother, and myself all served in the U.S. Army. I am a passionate, motivated individual, a serial entrepreneur, and a philanthropist. I’m inspired by the Foundation’s challenge coin which has the following words engraved, “ENGAGE * EDUCATE * INSPIRE * HONOR * PRESERVE!”

    The Army Historical Foundation serves as the official fundraising organization for the National Army Museum as part of its mission to preserve and present the history of the American Soldier. The Museum, which is owned and operated by the U.S. Army, is the first to tell the entire history of the nation’s oldest military service, immersing visitors in the Army story through compelling galleries, moving exhibits, a multisensory 300-degree theater, tranquil rooftop garden, and hundreds of historic artifacts rarely or never-before seen by the public.

    “Rudy Miller has led a lifetime of service to our great nation, and we are deeply grateful that he has made a defining gift toward the Foundation’s mission to preserve and present the history of the American Soldier,” said retired Brig. Gen. Burt Thompson, president of The Army Historical Foundation. “With Rudy’s support, we will be better able to remind the nation of all we owe those who wore the Army uniform, including Rudy himself and the members of his proud military family.”

    Rudy R. Miller’s contribution places him among the campaign’s most generous donors. Mr. Miller is Chairman, President and Chief Executive Officer of Miller Capital Corporation, a private equity firm and an affiliated company of The Miller Group of entities, established in 1972. Mr. Miller was Founder and Chairman of the Board of Miller Capital Markets, a FINRA member investment banking firm, from 2006 through 2012. He previously served over 20 years as a certified arbitrator for the NASD (now known as FINRA). He has years of executive-level experience owning, operating, and advising national and international corporations, from NYSE listed public companies to emerging-growth private companies, through varying economic climates. He has worked with various U.S. government contractors and possesses the ability to address crisis issues on behalf of his clients as one of his crucial skillsets. In 2025, Miller Capital was voted Best of Our Valley – Best Investment Firm for the sixth consecutive year by Arizona Foothills Magazine’s readers who responded with hundreds of thousands votes.

    Mr. Miller served in the United States Army, U.S. Army Reserve, and the U.S. Air Force Reserve, in the Vietnam era, and received honorable discharges as a Noncommissioned Officer. Mr. Miller also has an aviation background and is listed on the Smithsonian National Air and Space Museum Wall of Honor. Prior to his military service, he served as a fireman and first responder. Mr. Miller earned his Bachelor and Master of Business Administration degrees from Pacific Western University.

    President of the United States of America, Ronald W. Reagan, presented Mr. Miller the Medal of Merit in appreciation of his support and service as a member of a Presidential Task Force. Miller was honored to be the keynote speaker at a U.S. Navy Relinquishment of Command and Retirement Ceremony aboard the USS Midway Museum, San Diego, California in 2018. Mr. Miller accepted an invitation in 2014 to become a member of Thunderbird Field II Veterans Memorial, Inc., a non-profit organization for veterans and non-veterans. He was selected by the Board of Directors to be the Chairman of the Advisory Board where he developed and managed its Aviation Scholarship Program. Prior to retiring from Tbird2 in 2024, he served as Co-Chairman of the Scholarship Committee and a key fundraiser. He was the recipient of the first Tbird2 Leadership Award. Mr. Miller’s philanthropic endeavors include support for the non-profit arts community, athletic foundations, universities, community colleges, numerous non-profit entities, and veterans’ projects.

    In 2008, Mr. Miller instituted the annual Rudy R. Miller Business – Finance Scholarship in support of Arizona State University, in particular the W. P. Carey School of Business. His active involvement at the University also included having served as a member of ASU’s Dean’s Council of 100. In 2023, Mr. Miller was selected by Embry-Riddle Aeronautical University to join two influential advisory boards for both the College of Aviation (COA) and the College of Business, Security and Intelligence (CBSI). In addition to joining Embry-Riddle’s COA and CBSI advisory boards, Miller has established scholarships for students, both veterans and non-veterans, at both colleges. He also set up a fund to support COA simulator training to improve commercial pilot safety (ISCP) as well as a fund to support CBSI students with CompTIA Security+ courseware and exam fees.

    In January 2024, Mr. Miller accepted a position on the Advisory Board at CrossFirst Bank (Phoenix, Arizona), a subsidiary of CrossFirst Bankshares, Inc. Effective March 1, 2025, First Busey Corporation (NASDAQ: BUSE), the holding company for Busey Bank, acquired by merger CrossFirst Bankshares, Inc. Mr. Miller agreed to continue to serve on the Busey Bank (Arizona) Advisory Board.

    For more information about Rudy R. Miller and The Miller Group of entities, please visit www.themillergroup.net.

    Individuals and organizations that wish to support the Foundation’s mission can make a gift through its website at armyhistory.org. The Foundation can also arrange for large group visits and special events at the Museum. The Museum is open every day, except December 25, with free admission and parking.

    About The Army Historical Foundation
    The Army Historical Foundation establishes, assists, and promotes programs and projects that preserve the history of the American Soldier and promote public understanding of and appreciation for the contributions by all components of the U.S. Army and its members. The Foundation serves as the Army’s official fundraising entity for the Capital Campaign for the National Museum of the United States Army. The award-winning, LEED- certified Museum opened on November 11, 2020, at Fort Belvoir, Va., and honors the service and sacrifice of all American Soldiers who have served since the Army’s inception in 1775. For more information on the Foundation and the National Museum of the United States Army, visit www.armyhistory.org.

    Official photographer for The Miller Group and its affiliated entities – Gordon Murray, 480 205-9691 (www.flashpv.com)

       
    Contact: Contact:
    The Army Historical Foundation Miller Capital Corporation
    Lydia Pitea Kristina McDaniel
    Senior Donor Relations Manager Vice President Admin & Corporate Controller
    lydia.pitea@armyhistory.org kmcdaniel@themillergroup.net
    973.632.1244 602.225.0505
       

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ec64ce26-7579-48b1-9fe9-9388078f1411

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3b9eef90-f7c5-427f-9de6-05efa2a0daf5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/cf3a312d-a7fa-4374-9fb0-efebf75aa551

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e0d35d5a-9a50-4004-886c-a838fc8936c5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a0900908-b6ab-4d6f-bf2f-e3bc81e5ba64

    The MIL Network –

  • MIL-OSI United Kingdom: Joint statement – response to the interim proposals for Local Government Reorganisation, Norfolk

    Source: City of Norwich

    Published on Wednesday, 7th May 2025

    The Government has responded to our joint proposal for the reorganisation of local government in Norfolk, which we will now examine in detail over the coming days.

    Collectively, we remain confident in our comprehensive vision for a three-unitary model for the county, which we believe will deliver significant benefits for our communities: including improved public service outcomes, enhanced local economic growth and stronger democratic representation.

    Our model is rooted in our detailed knowledge and experience of Norfolk and our clear understanding of how to address the unique challenges and opportunities ahead while aligning closely with the Government’s criteria for local government reorganisation.

    The three-unitary model proposes the establishment of three distinct unitary authorities centred around the historic urban centres of Norwich, Great Yarmouth and King’s Lynn. This structure is designed to reflect the functional and geographic significance of these areas as civic and economic hubs, ensuring that local governance is both effective and responsive to the needs of our diverse communities.

    This approach also aligns with the Government’s preference for maintaining existing boundaries where possible while providing a clear rationale for necessary changes to optimise service delivery and community alignment.

    Our three-unitary model will enable tailored approaches to local economies and housing, recognising the distinct characteristics and needs of each area. It will also provide a balanced power dynamic ensuring that no single entity dominates and that local voices are heard across the county.

    One of our next steps will include launching a significant public and stakeholder engagement exercise to listen to the views on local people to help us refine this proposal into a full business case that maximises the potential of devolution and local governance in Norfolk by the Government deadline of September.

    Issued on behalf of: Broadland District Council, Breckland Council, Kings Lynn and West Norfolk Borough Council, Great Yarmouth Borough Council, North Norfolk District Council, Norwich City Council

    Read more about Local Government Reorganisation at the process so far. 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: expert reaction to ARIA’s announcement on research projects in the Exploring Climate Cooling programme

    Source: United Kingdom – Executive Government & Departments

    Scientists comment on new research projects as part of ARIA’s Exploring Climate Cooling programme. 

    Prof Stuart Haszeldine, Professor of Carbon Capture and Storage, School of School of GeoSciences, University of Edinburgh, said:

    “Humans are losing the battle against climate change.  Engineering cooling is necessary because in spite of measurements and meetings and international treaties during the past 70 years, the annual emissions of greenhouse gases have continued to increase.  The world is heading towards heating greater than any time in our civilisation.

    “Many natural processes are reaching a tipping point, where the earth may jump into a different pattern of behaviour.  Geological records of the past 20,000 years around the UK and globally show that rapid changes can happen within a few years and can take tens to hundreds of years to recover.

    “Natural processes can cool the climate, notably volcanic eruptions can place tiny rock particles and sulphur gases high into the stratosphere.  In the geological and recent past, these have cooled earth temperatures by 1 or 2 degrees C for 2 to 5 years.  The scientific understanding of short timescale earth behaviour is not yet good enough to make reliable predictions.  So research is needed, together with testing of remedies in the real world not just in laboratories.

    “Projects in geo-engineering will be subject to unusually strong and transparent governance.  Strong public reactions have resulted from previous investigations.  And novel and appropriate communication is especially needed, to explain to citizens in urban and remote communities how and why this work is necessary.

    “In a world before satellites and computer models for weather forecasting – the best that humans could do was appeal to the weather gods.  Or look out of the window to watch the rainstorm approach.  Or the drought continue.  Now humans need more information to work out how the climate, not just the imminent weather, can be predicted and managed.  Before making big interventions, it’s necessary to make sure the modelling works in controlled experiments.  And also to understand who could be winners or losers during global geo-engineering.  Ignoring the problem is not an answer to a situation which humans have created.”

     

    Dr Naomi Vaughan, Associate Professor of Climate Change, Tyndall Centre for Climate Change Research, UEA, said:

    Question: Lots of scientists, including many who research SRM, say they don’t want it to ever have to be deployed.  Why is that?

    “SRM methods do not address the causes of climate change – SRM methods seek to cool the climate by reflecting more sunlight back to space to offset the warming we are causing by increased concentrations of greenhouse gases in our atmosphere that come from the burning of coal, oil and gas and deforestation.

    “Deployment is a major issue for SRM ideas, because the way that SRM balances out the warming we’ve caused is not a perfect offset.  Deploying SRM would create a new risk to global society – the risk of stopping the SRM whilst greenhouse gas concentrations were still high, as it would cause very rapid warming.  To stop SRM once it had been deployed safely, would require global society to reach net zero emissions and pay to remove large amounts of CO2 from the atmosphere.

    “It’s for these reasons that many scientists are cautious about SRM research because of how it could be used or misused in the future.”

     

    Dr Phil Williamson, Honorary Associate Professor, UEA, said:

    “The ARIA research programme focuses on technical capabilities for five specific cooling approaches.  Progress will undoubtedly be made, with one or more indicating that we could abandon net-zero knowing there would be a safety net to avoid climate catastrophe.  Yet the most crucial component of the initiative is the one concerning ethics and governance: is there any chance at all that there could ever be international agreement on such action?  In our divided world, the answer is no.  We would then be faced with the intolerable situation of the global climate being controlled by the most powerful nations (maybe our friends, maybe our foes) with scant regard for worldwide human rights, despite ARIA’s stated concerns regarding “impacts on the Global South”.”

     

    Prof Mike Hulme, Professor of Human Geography, University of Cambridge, said:

    “£57m is a huge amount of tax-payers money to be spent on this assortment of speculative technologies intended to manipulate the Earth’s climate.  I say this because these technologies will always remain speculative, and unproven in the real world, until they are deployed at scale.  Just because they “work” in a model, or at a micro-scale in the lab or the sky, does not mean they will cool climate safely, without unwanted side-effects, in the real world.  There is therefore no way that this research can demonstrate that the technologies are safe, successful or reversible.  The UK Government is leading the world down what academic analysts call ‘the slippery slope’ towards eventual dangerous large-scale deployment of solar geoengineering technologies.  This is public money that would be far better invested in enhancing technologies to reduce dependence on fossil fuels or to remove carbon dioxide from the atmosphere.”

     

     

     

    https://www.aria.org.uk/opportunity-spaces/future-proofing-our-climate-and-weather/exploring-climate-cooling

     

     

    Declared interests

    Prof Stuart Haszeldine: “Stuart Haszeldine has no competing interests.  His research on climate engineering is not funded by ARIA, or UKRI or commercial companies.”

    Dr Naomi Vaughan: “No industry links.  I worked on a NERC-funded geoengineering research project, which included SRM, in 2010-2014.”

    Dr Phil Williamson: “Formerly employed by Natural Environment Research Council, including as Science Coordinator of UK Greenhouse Gas Removal Programme (2016-2020); now retired, with no external funding.  Lead author of two reports (2012, 2016) on Climate Geoengineering for UN Convention on Biological Diversity.”

    Prof Mike Hulme: “I am a signatory to the international Solar Geoengineering Non-Use Agreement: https://www.solargeoeng.org/.”

    MIL OSI United Kingdom –

  • MIL-OSI: Introducing the Wix Model Context Protocol (MCP) Server for Seamless AI-Driven Web App Development

    Source: GlobeNewswire (MIL-OSI)

    With Wix MCP Server, users can leverage natural language prompts to seamlessly connect Wix’s comprehensive business functionality with their preferred compatible AI-powered tools, enabling them to build custom experiences on top of Wix or manage their Wix-based business

    NEW YORK – Wix.com Ltd. (NASDAQ: WIX), the leading SaaS website builder platform globally, today announced the launch of the Wix Model Context Protocol (MCP) Server. This enables anyone—from developers to business owners— to deliver production-ready Wix business solutions seamlessly through AI coding assistants and LLMs, ensuring they can generate code for a vast array of needs and manage Wix businesses using natural language. 

    The Wix MCP Server provides access to a wide range of Wix’s business solution functionalities, enabling users to manage their Wix-based business and generate code through AI assistants including Claude, Cursor, and Windsurf. Whether it’s a developer building a custom integration or a business owner chatting with Claude, the MCP provides the context and intelligence to get things done without coding or manual setup required. These powerful tools include inventory management, staff scheduling, secure checkouts, ticketing, a flexible CMS, and more. It also offers built-in CRM capabilities to capture and manage leads, such as  through forms, and comes with comprehensive back-office management as part of the Wix ecosystem, making it a robust platform for running, integrating, and building various aspects of your business.

    The Wix MCP Server is  a bridge between MCP-compatible AI clients and Wix’s robust headless infrastructure simply by using natural language prompts. Developers can operate directly from familiar Integrated Development Environments (IDEs), minimizing the need for manual integration and extensive documentation. Moreover, it is designed to cater to various user groups, including freelance web developers, agency teams, in-house development specialists, and AI automation experts.

    “We continue to invest in tools for developers, building on the momentum of our launch of Wix Studio. The addition of the Wix MCP Server expands this offering, making our powerful business solutions even more accessible to developers through instant, effective tools backed by Wix’s enterprise-grade infrastructure. This framework not only enhances productivity but also provides access to a wide variety of APIs and services, enabling the creation of seamless, cross-vertical solutions such as integrated commerce, blogs, scheduling, and events,” said Yaniv Even Haim, CTO at Wix. “As we step into the world of LLM-powered code generation, the quality and completeness of our APIs become one of our most important assets. Developers can now easily generate code that seamlessly integrates with Wix’s infrastructure, ensuring efficiency and reliability. This empowers them to provide secure, scalable solutions for their clients while harnessing the full potential of Wix’s headless platform. This initiative underscores the importance of continuing our efforts to open more APIs and enhance our documentation, marking just the beginning of a larger strategy to facilitate AI disruption within the industry.” 

    Wix will demonstrate the capabilities of the Wix MCP Server for payments at today’s Stripe Sessions. Developers will see firsthand how to generate reliable code for fully functional payment solutions using LLMs, creating a complete service website that accepts online payments via credit cards, Apple Pay, and Google Pay through Wix Payments and Stripe.

    Developers can start coding with the MCP at no cost with the option to upgrade to a Premium Plan for extended functionality for business operations including accepting online payments.  Learn more about the Wix MCP here.

    About Wix.com Ltd.
    Wix is the leading SaaS website builder platform1 to create, manage and grow a digital presence. Founded  in 2006, Wix is a comprehensive platform providing users – self-creators, agencies, enterprises, and more – with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients. 

    For more about Wix, please visit our Press Room
    Media Relations Contact:  PR@wix.com  

    1 Based on number of active live sites as reported by competitors’ figures, independent third-party data and internal data as of H1 2024.

    Attachments

    The MIL Network –

  • MIL-OSI: AssetMark Trust Marks $100 Billion Milestone with Continued Investment in Arizona

    Source: GlobeNewswire (MIL-OSI)

    PHOENIX, May 07, 2025 (GLOBE NEWSWIRE) — AssetMark, a leading national wealth management solutions provider, is celebrating a major milestone for AssetMark Trust Company based in Phoenix. AssetMark Trust has surpassed $100 billion in assets under custody.

    This milestone comes alongside the company’s continued expansion in Arizona, underscoring its deep-rooted commitment to the local community. To commemorate this success, AssetMark Trust will unveil a new illuminated sign atop its midtown high-rise at 3200 North Central Avenue, symbolizing the company’s growth and dedication to the Phoenix region.

    AssetMark Trust Company started operating out of this office 18 years ago with about 15 employees. “We started with a strong focus on building a great business and providing exceptional service to Financial Advisors and their clients nationwide,” said Brad Wheeler, President of AssetMark Trust Company. “Today we have over 340 employees serving and have been growing each year. AssetMark Trust is mission-driven and exists to help financial advisors make a difference in their clients’ lives. Advisors choose AssetMark Trust because of our relentless focus on their success and serving them well. We’ve earned their trust over time, and that’s what has driven our growth.”

    Carrie Hansen, Chief Operating Officer of AssetMark and Board Chair of AssetMark Trust stated, “Our success is a direct reflection of the trust and dedication of the advisors we serve. This event highlights our unwavering commitment to supporting their success and the communities we’re privileged to be part of. We’ve long valued Arizona’s business climate and talent pool, and we continue to invest in expanding our footprint here. We look forward to further strengthening our presence in this region.”

    About AssetMark Trust

    AssetMark Trust Company is an Arizona-based financial institution that provides custody, recordkeeping, account administration and reporting to clients and financial advisors using the AssetMark, Inc. platform.

    About AssetMark Inc. (“AssetMark”)

    AssetMark, Inc. operates a wealth management platform whose mission is to help financial advisors and their clients. AssetMark, together with its affiliates AssetMark Trust Company, Voyant, and Adhesion Wealth Advisor Solutions, serves advisors at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Its ecosystem of solutions equips advisors with services and capabilities to help deliver better investor outcomes by enhancing their productivity, profitability, and client satisfaction.  

    With a history going back to 1996, AssetMark has over 1,000 employees, and its platform serves over 10,700 financial advisors and over 317,000 investor households. As of December 31, 2024, AssetMark had over $139 billion in platform assets. AssetMark is a registered investment adviser with the U.S. Securities and Exchange Commission.

    For more information, please visit www.assetmark.com. Follow us on LinkedIn.

    IMPORTANT INFORMATION

    This is for informational purposes only, is not a solicitation, and should not be considered investment, legal or tax advice. The information has been drawn from sources believed to be reliable, but its accuracy is not guaranteed, and is subject to change.

    Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results.

    AssetMark, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission.

    2024 AssetMark, Inc. All rights reserved.

    The MIL Network –

  • MIL-OSI: MKS Breaks Ground on New Chemical Manufacturing and TechCenter Facility in Thailand

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., May 07, 2025 (GLOBE NEWSWIRE) — MKS Instruments. Inc. (NASDAQ: MKSI) (“MKS”), a global provider of enabling technologies that transform our world, announced today the groundbreaking of its cutting-edge Atotech chemical manufacturing and TechCenter facility at the Asia Industrial Estate Suvarnabhumi, located east of Bangkok, Thailand. This strategic investment aligns with MKS’ commitment to grow alongside its customers and deliver localized expertise to accelerate technological advancements across the region. The new facility also underscores MKS’ dedication to fostering Thailand’s growing role within the printed circuit board (“PCB”) industry.

    “This facility represents a major milestone for MKS, as we expand our footprint in Southeast Asia,” said John T. C. Lee, President and CEO of MKS Instruments. “By bringing world-class manufacturing, cutting-edge technology, and specialized laboratory services to Thailand, we are reinforcing our ability to support Southeast Asia’s fast growing PCB manufacturing and semiconductor advanced packaging sectors, as well as the region’s top specialty industrial manufacturers. This investment demonstrates our long-term vision for growth and innovation in the global electronics and plating industries.”

    The facility will be located on a 11.7-acre plot, spanning approximately 27,000 square meters and just 30 minutes from Bangkok International Airport. The facility will feature:

    • A state-of-the-art manufacturing space dedicated to producing chemicals for surface treatments and plating, serving industries such as Electronics and Automotive.
    • A TechCenter featuring advanced Electronics and General Metal Finishing plating equipment, along with laser machinery for innovative applications.
    • Fully equipped laboratories for analytics, quality control, and material science, supporting customer ramp-ups, ensuring high standards and continuous innovation.
    • Comprehensive technical service capabilities, including maintenance, spare parts, and support for new IIoT and software solutions tailored to the region’s installed equipment base.
    • A modern main office building designed to efficiently support administrative and operational functions.

    Dedicated to driving innovation and operational excellence, the facility will focus on producing process chemicals, providing customer service and application work for advanced electronics and industrial markets. With a total production capacity of 18,500 tons per year, this new MKS site represents an investment of $40M+ and operations are set to begin in the second half of 2027.

    Safe Harbor for Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, regarding MKS’ construction of a chemical manufacturing and TechCenter facility in Thailand, as well as the projected features and the projected timeline for completion of the facility. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Actual events or results may differ materially from those in the forward-looking statements set forth herein, including as a result of the factors described in MKS’ Annual Report on Form 10-K for the year ended December 31, 2024 and any subsequent Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

    About MKS Instruments

    MKS Instruments enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world’s leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at www.mks.com.

    About the Atotech Brand

    Atotech is a brand within the Materials Solutions Division of MKS Instruments. Atotech’s portfolio consists of leading process and manufacturing technologies for advanced surface modification, electroless and electrolytic plating, and surface finishing. Applying a comprehensive systems-and-solutions approach, the Atotech portfolio includes chemistry, equipment, software, and services for innovative and high-technology applications. These solutions are used in a wide variety of end-markets, including datacenter, consumer electronics and communications infrastructure, as well as in numerous industrial and consumer applications such as automotive, heavy machinery, and household appliances.

    With its well-established innovative strength and industry-leading global TechCenter network, MKS delivers pioneering solutions through its Atotech brand – combined with unparalleled on-site support for customers worldwide. For more information, please visit us at www.atotech.com.

    Contacts:

    Bill Casey
    Vice President, Marketing Communications
    Telephone: +1 (630) 995-6384
    Email: press@mksinst.com

    Kelly Kerry, Partner
    Kekst CNC
    Email: kerry.kelly@kekstcnc.com

    The MIL Network –

  • MIL-OSI: First Pacific Bancorp Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WHITTIER, Calif., May 07, 2025 (GLOBE NEWSWIRE) — First Pacific Bancorp (the “Company”) (OTC Pink: FPBC), the holding company for First Pacific Bank (the “Bank”), today reported consolidated results for the first quarter ending March 31, 2025, marking its eighth consecutive quarter of profitability. The Company remains well-capitalized, with a healthy liquidity position supported by a stable core deposit base and access to substantial sources of liquidity.

    Highlights for the first quarter of 2025 include:

    • Total assets ended the first quarter 2025 at $456 million, up $23 million from $433 million at year end 2024.
    • Total deposits ended the first quarter 2025 at $390 million, up $39 million since year end 2024.
    • Total loans ended the first quarter 2025 at $294 million, up $17 million from year end 2024.
    • Asset quality remains excellent with minimal levels of classified or non-performing assets.
    • The Bank ended the first quarter with a strong capital position, with a leverage capital ratio of 9.0% and a total risk-based capital ratio of 12.7%.
    • As of March 31, 2025, cash and cash equivalents totaled $47 million, including funds invested overnight, up $6 million since year end 2024.
    • Unused borrowing capacity from credit facilities on March 31, 2025, totaled $187 million.

    For the first quarter ending March 31, 2025, the Company realized a pre-tax, pre-provision profit of $550 thousand, compared to a pre-tax, pre-provision profit of $702 thousand in Q4 2024 and $222 thousand in Q1 2024. Net income for the first quarter of 2025 was $393 thousand, up from $162 thousand in Q1 2024.    

    Asset quality remains excellent with minimal non-performing assets, an allowance for credit losses of 1.08% of total loans, and zero loan losses.

    “We are pleased with the momentum we’ve carried into 2025. Our diversified business model, prudent risk management, and focus on operational discipline continue to position us for sustained performance in a dynamic environment,” said Joe Matranga, Chairman of the Board.

    “We delivered strong first quarter results, driven by consistent performance across our markets and continued growth in both loans and deposits,” said Nathan Rogge, President and Chief Executive Officer. “As we execute our client-focused strategy and invest in infrastructure and technology, we are well positioned for long-term success. Our recent move to a larger San Diego regional office reflects our confidence in future growth and our ongoing commitment to serving our clients.”

    ABOUT FIRST PACIFIC BANK

    First Pacific Bank is a wholly owned subsidiary of First Pacific Bancorp (OTC Pink: FPBC) and is a growing community bank catering to individuals, professionals, and small-to-medium sized businesses throughout Southern California. Since opening in 2006, the Bank has offered a personalized approach, access to decision makers, a broad range of solutions, and a commitment to delivering an exceptional customer experience. First Pacific Bank operates locations in Los Angeles County, Orange County, San Diego County, and the Inland Empire. For more information, visit firstpacbank.com or call 888.BNK.AT.FPB.

    FORWARD-LOOKING STATEMENTS

    This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, and First Pacific Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely. Forward-looking statements relate to, among other things, our business plan, and strategies, and can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” and similar expressions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Factors that might cause such differences include, but are not limited to: successfully realizing the benefits of our business strategy and plans,; changes in general economic and financial market conditions, either nationally or locally, in areas in which First Pacific Bank conducts its operations; effects of inflation and changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; impact of any natural disasters, including earthquakes; effect of governmental supervision and regulation, including any regulatory or other enforcement actions; legislation or regulatory changes which adversely affect First Pacific Bank’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company does not undertake, and specifically disclaims any obligation to update any forward-looking statements to reflect occurrences or unanticipated events, or circumstances after the date of such statements except as required by law.  

    — Summary Financial Tables Follow —

    First Pacific Bancorp 
    Consolidated Balance Sheets
    (Unaudited)
      Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
    ASSETS          
    Cash and due from banks $ 8,042,164   $ 4,708,926   $ 23,584,084   $ 4,671,483   $ 7,317,500  
    Fed funds sold & int-bearing balances   39,250,000     36,290,000     25,520,000     37,860,000     37,575,000  
    Total cash and cash equivalents   47,292,164     40,998,926     49,104,084     42,531,483     44,892,500  
               
    Debt securities (AFS)   1,859,740     1,866,022     3,041,852     3,077,666     5,138,340  
    Debt securities (HTM)   99,099,346     100,257,560     101,260,391     102,202,926     103,474,749  
    Total debt securities   100,959,086     102,123,582     104,302,243     105,280,592     108,613,089  
               
    Construction & land development   25,245,823     23,320,351     23,067,204     24,651,513     25,480,398  
    1-4 Family residential   63,536,698     58,588,090     58,082,570     68,588,393     68,521,663  
    Multifamily residential   30,452,183     28,561,276     28,966,811     26,800,829     26,947,419  
    Nonfarm, nonresidential real estate   105,299,777     100,066,570     99,715,860     94,643,169     97,893,840  
    Commercial & industrial   64,956,570     62,322,690     57,342,017     53,504,969     54,785,564  
    Consumer & Other   4,572,607     4,525,108     780,639     1,831,036     1,123,918  
    Total loans   294,063,658     277,384,085     267,955,101     270,019,909     274,752,802  
    Allowance for credit losses (loans)   (3,179,637 )   (3,179,637 )   (3,109,975 )   (3,109,975 )   (3,109,975 )
    Total loans, net   290,884,021     274,204,448     264,845,126     266,909,934     271,642,827  
               
    Premises, equipment, and ROU net   2,822,403     1,328,964     1,452,886     1,714,833     1,992,588  
    Goodwill, core deposit & other intangibles   1,259,139     1,273,134     1,287,129     1,298,084     1,313,367  
    Bank owned life insurance   5,317,491     5,287,738     5,257,550     5,227,763     5,198,654  
    Accrued interest and other assets   7,703,693     7,755,355     7,505,380     7,476,554     7,415,609  
               
    Total Assets $ 456,237,997   $ 432,972,147   $ 433,754,398   $ 430,439,243   $ 441,068,634  
               
    LIABILITIES AND SHAREHOLDERS’ EQUITY          
    Deposits:          
    Noninterest-bearing demand $ 143,205,484   $ 131,515,568   $ 129,473,091   $ 144,240,187   $ 133,945,262  
    Interest-bearing transaction accounts   39,203,360     28,454,639     24,660,000     24,797,108     28,166,207  
    Money market and savings   162,563,677     146,423,126     143,270,628     143,497,864     148,732,230  
    Time deposits   44,568,676     44,302,867     44,388,137     41,060,590     38,662,227  
    Total deposits   389,541,197     350,696,200     341,791,856     353,595,749     349,505,926  
               
    Borrowings   23,000,000     40,000,000     50,000,000     35,000,000     50,000,000  
    Accrued interest and other liabilities   3,952,095     3,122,902     3,430,132     3,781,444     3,936,909  
    Total liabilities   416,493,292     393,819,102     395,221,988     392,377,193     403,442,835  
               
    Shareholders’ Equity:          
    Capital stock and APIC   37,389,068     37,272,567     37,117,627     36,970,386     36,788,606  
    Retained earnings   3,043,502     2,650,877     2,151,305     1,902,788     1,705,174  
    Accum other comprehensive income   (687,865 )   (770,399 )   (736,522 )   (811,124 )   (867,981 )
    Total shareholders’ equity   39,744,705     39,153,045     38,532,410     38,062,050     37,625,799  
               
    Total Liabilities and Shareholders’ Equity $ 456,237,997   $ 432,972,147   $ 433,754,398   $ 430,439,243   $ 441,068,634  
               
    First Pacific Bancorp
    Consolidated Income Statements – Quarterly
    (Unaudited)
               
      Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
    INTEREST INCOME          
    Loans, including fees $ 4,788,107   $ 4,814,128   $ 4,817,174   $ 4,655,844   $ 4,700,535  
    Debt securities   462,472     484,508     499,268     514,613     543,857  
    Fed funds & int-bearing balances   339,864     419,597     450,166     573,022     410,685  
    Total interest income   5,590,443     5,718,233     5,766,608     5,743,479     5,655,077  
               
    INTEREST EXPENSE          
    Deposits   1,812,760     1,777,351     1,790,578     1,687,121     1,746,032  
    Borrowings   219,832     332,375     444,250     524,599     507,390  
    Total interest expense   2,032,592     2,109,726     2,234,828     2,211,720     2,253,422  
               
    Net interest income   3,557,851     3,608,507     3,531,780     3,531,759     3,401,655  
               
    Provision for credit losses   –     –     –     –     –  
               
    Net interest income after provision   3,557,851     3,608,507     3,531,780     3,531,759     3,401,655  
               
    NONINTEREST INCOME          
    Service charges, fees and other income   122,610     119,173     106,628     96,460     108,365  
    Sublease income   45,222     –     53,975     52,970     53,872  
    Gains (losses) on sale of assets   –     –     15,335     –     –  
    Gains on early payoff of debt   –     54,125     –     144,325     –  
    Total noninterest income   167,832     173,298     175,938     293,755     162,237  
               
    NONINTEREST EXPENSE          
    Salaries and benefits   2,119,302     1,984,774     2,154,290     2,182,674     2,178,486  
    Occupancy and equipment   259,480     258,180     374,069     363,695     368,816  
    Other expense   797,261     836,692     834,281     1,007,247     794,158  
    Total noninterest expense   3,176,043     3,079,646     3,362,640     3,553,616     3,341,460  
               
    Income before income tax expense   549,640     702,159     345,078     271,898     222,432  
               
    Income tax expense (benefit)   157,015     202,586     96,563     74,281     60,524  
               
    Net Income $ 392,625   $ 499,573   $ 248,515   $ 197,617   $ 161,908  
               
    Earnings per share basic (QTR) $ 0.09   $ 0.12   $ 0.06   $ 0.05   $ 0.04  
    Weighted average shares outstanding (QTR)   4,333,735     4,293,829     4,288,851     4,283,351     4,281,653  
               
    First Pacific Bancorp
    Quarterly Financial Highlights
    (Unaudited)
                 
        Quarterly
        2025 2024 2024 2024 2024
    ($$ in thousands except per share data)   1st Qtr 4th Qtr 3rd Qtr 2nd Qtr 1st Qtr
    EARNINGS            
    Net interest income $ 3,558   3,609   3,532   3,532   3,402  
    Provision for loan losses $ 0   0   0   0   0  
    Noninterest income $ 168   173   176   294   162  
    Noninterest expense $ 3,176   3,080   3,363   3,554   3,341  
    Income tax expense $ 157   203   97   74   61  
    Net income $ 393   500   249   198   162  
                 
    Earnings per share basic $ 0.09   0.12   0.06   0.05   0.04  
    Weighted average shares outstanding   4,333,735   4,293,829   4,288,851   4,283,351   4,281,653  
    Ending shares outstanding   4,335,088   4,294,500   4,291,927   4,283,351   4,283,351  
                 
    PERFORMANCE RATIOS            
    Return on average assets   0.37 % 0.47 % 0.23 % 0.18 % 0.15 %
    Return on average common equity   4.05 % 5.12 % 2.58 % 2.10 % 1.73 %
    Yield on loans   6.79 % 6.91 % 6.98 % 6.97 % 6.84 %
    Yield on earning assets   5.44 % 5.50 % 5.58 % 5.52 % 5.49 %
    Cost of deposits   2.00 % 1.98 % 2.05 % 1.96 % 2.05 %
    Cost of funding   2.12 % 2.18 % 2.32 % 2.28 % 2.35 %
    Net interest margin   3.46 % 3.47 % 3.42 % 3.40 % 3.31 %
    Efficiency ratio   85.2 % 81.4 % 90.7 % 92.9 % 93.8 %
                 
    CAPITAL            
    Tangible equity to tangible assets   8.46 % 8.77 % 8.61 % 8.57 % 8.26 %
    Book value (BV) per common share $ 9.17   9.12   8.98   8.89   8.78  
    Tangible BV per common share $ 8.88   8.82   8.68   8.58   8.48  
                 
    ASSET QUALITY            
    Net loan charge-offs (recoveries) $ 0   0   0   0   0  
    Allowance for credit losses (loans) $ 3,180   3,180   3,110   3,110   3,110  
    Allowance to total loans   1.08 % 1.15 % 1.16 % 1.15 % 1.13 %
    Nonperforming loans $ 849   672   991   77   160  
                 
    END OF PERIOD BALANCES            
    Total loans $ 294,064   277,384   267,955   270,020   274,753  
    Total assets $ 456,238   432,972   433,754   430,439   441,069  
    Deposits $ 389,541   350,696   341,792   353,596   349,506  
    Loans to deposits   75.5 % 79.1 % 78.4 % 76.4 % 78.6 %
    Shareholders’ equity $ 39,745   39,153   38,532   38,062   37,626  
    Full-time equivalent employees   46   49   44   44   46  
                 
    AVERAGE BALANCES (QTRLY)            
    Total loans $ 286,119   276,301   273,960   267,766   275,578  
    Earning assets $ 416,486   412,424   410,298   416,965   412,791  
    Total assets $ 430,891   425,750   424,199   430,830   426,592  
    Deposits $ 368,363   355,369   346,142   346,032   341,226  
    Shareholders’ equity $ 39,326   38,746   38,267   37,788   37,443  
                           

    The MIL Network –

  • MIL-OSI: Rate Supports Our Military Service Members and Veterans Beyond Offering Industry-Leading Mortgage Options

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, May 07, 2025 (GLOBE NEWSWIRE) — In recognition of Military Appreciation Month, Rate, a leader in fintech mortgage solutions, is spotlighting its continued support for active-duty military members, veterans, and their families—support that extends well beyond the closing table.

    While Rate is nationally recognized for its industry-leading VA mortgage products and top-tier loan officers, the company’s dedication to the military community runs deeper. With no lender fee on VA loans, amounting to $65.3 million in waived fees, and no overlays, Rate delivers unmatched accessibility and affordability for eligible homebuyers. The company is also home to the #1 VA purchase loan officer in the country, supported by a team of specialized underwriters and credit experts dedicated to navigating the unique needs of VA borrowers.

    “Serving our military community is not a tagline. It’s a core part of who we are,” said Victor Ciardelli, CEO of Rate. “We’re proud to offer the most competitive VA loan options on the market, but just as important is how we show up for veterans and service members every day, through real outreach, education, and giving.”

    That commitment is evident in Rate’s year-round military initiatives:

    • $1.08 million raised for nine nonprofits benefiting military families in 2024.
    • VA loan education classes for service members at various points of their careers, including service members preparing to leave the barracks.
    • A 2025 clothing drive in partnership with Operation Deploy Your Dress, donating 1,000+ dresses and 200 suits for military community members.
    • A holiday toy and sweater drive benefiting families across multiple military bases.
    • A Military Appreciation Baseball Game hosted at Rate Stadium, honoring military spouses, recognizing a “Hero of the Game” servicemember, and welcoming parachuters delivering the White Sox game ball, complete with 500 tickets and concession vouchers donated to military families.

    At the heart of these efforts is HONOR, Rate’s internal employee resource group focused on military outreach and support. HONOR’s mission is to embrace the company’s proud community of active and retired service members, veterans, spouses, and their families through shared experiences and resources.

    “We are dedicated to educating Veterans as well as the real estate community about VA loans. VA loans are a true benefit and many veterans use their VA benefit to build generational wealth. I am honored to be part of their journey home as is every member of the Rate team,” said Jennifer Beeston, Rate’s EVP National Lending and the nation’s top VA purchase loan officer. “From planning to buying to 20 years from now, we’re here to make homeownership a reality for the people who’ve served our country.”

    As May marks Military Appreciation Month, Rate remains committed to honoring the sacrifices of our nation’s military community, not only with unmatched home financing solutions, but also through continued action, advocacy, and care.

    About Rate

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    The MIL Network –

  • MIL-OSI Russia: Rosneft volunteers improved more than 50 monuments to the heroes of the Great Patriotic War on the eve of the Victory Day anniversary

    Translation. Region: Russian Federal

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    In anticipation of the 80th anniversary of the Great Victory, volunteers from Rosneft enterprises renovated and improved more than 50 monuments, memorials, obelisks, commemorative signs, and burial sites of heroes of the Great Patriotic War in different parts of Russia.

    In the regions where the Company operates, employees take an active part in commemorative events dedicated to the anniversary of the Great Victory.

    Volunteers from the Central Office and Moscow enterprises of Rosneft have landscaped the area around the monument to the workers of the Moscow Oil Depot who died on the fronts of the Great Patriotic War. In 1941-1945, the oil depot, located on Sormovskaya Street in Moscow, played a key role in supplying the capital with fuel, ensuring uninterrupted supplies of fuel for military equipment. The Company’s employees installed new stone vases near the monument and planted flower beds. The wall of the oil depot was decorated with a mural dedicated to the contribution of oil workers to the Victory.

    Environmentalists and activists of the Novokuibyshevsky and Kuibyshevsky Oil Refineries, the Novokuibyshevsk Petrochemical Company and the Novokuibyshevsky Oil and Additives Plant, together with volunteers from the EcoRavnovesie movement, improved the park in the village of Kryazh in the Samara urban district. There is a monument to soldiers who died during the Great Patriotic War. Volunteers collected and removed household waste from the area, laid out flower beds and planted a rowan alley.

    Employees of the Kuibyshev Oil Refinery have improved more than a dozen burial sites of veterans of the Great Patriotic War in the Kuibyshev District of Samara. The oil workers cleaned the graves of the front-line soldiers after the winter and painted the fences.

    Volunteers of the Novokuibyshevsk Oil Refinery improved the Victory Alley and the area adjacent to the monument to home front workers. The memorial was erected in Novokuibyshevsk in 2022 on the initiative and with the support of the enterprise. In addition, the plant workers restored four burial sites of fellow countrymen – participants in the Great Patriotic War, installed new monuments, and improved the adjacent territories.

    Samaraneftegaz employees tidied up the monument to fallen heroes of the Great Patriotic War in the village of Mirny in the Samara Region. Volunteers cleaned up, painted the fences, and planted bushes and trees.

    In the Republic of Bashkortostan, in the city of labor valor Ishimbay, Bashneft volunteers together with activists of the Movement of the First improved the territory of the memorial to the Ishimbay oil workers who died in battles for the Motherland. The participants of the action collected and removed more than a ton of dead wood and household waste, painted the curbs and tree trunks.

    For several years, RN-Krasnodarneftegaz employees have been looking after the monument to the residents of the 2nd Zapadny farmstead in the Krymsky District of Krasnodar Krai. The fascist occupiers destroyed the farmstead along with all its residents in May 1943. Their memory is carefully preserved by Rosneft volunteers, who have taken patronage over the monument.

    In addition, RN-Krasnodarneftegaz volunteers tidied up the territory of the Monument to the Separate 16th Rifle Brigade in the village of Sputnik in the Seversky District of the Krasnodar Territory, the Memorial to those killed in the battles for the liberation of the village of Saratovskaya, the cultural heritage site “Mass grave of 52 Soviet soldiers killed in battles with the fascist invaders in 1943” in the Khankov farm in the Slavyansky District, the Victory Obelisk and the Worship Cross at the site of the death of Soviet citizens.

    According to a long-standing tradition, employees of the Tuapse Oil Refinery improved the monument to oil refiners who died during the Great Patriotic War and cleaned up the territory of Victory Park in Tuapse.

    Volunteers of the Ryazan NPK improved three memorial sites: a memorial in the village of Nikulichi in honor of the villagers who fought in the Great Patriotic War, a street named after the Hero of the Soviet Union and National Hero of Italy, a native of the Ryazan region, Fyodor Poletaev, and a monument to the pilots who died in an unequal battle with the enemy at the end of 1941.

    Udmurtneft employees together with activists of the Movement of the First improved the monument to those killed in the Great Patriotic War in the village of Svetloye in the Votkinsk district of Udmurtia. The company’s volunteers also participated in the arrangement of memorials in six settlements in the Sarapul, Sharkansky and Igrinsky districts of the republic.

    A large-scale volunteer initiative to improve war memorials was carried out by RN-Service employees. They tidied up the monuments to soldiers who died in Moscow hospitals and to fallen soldiers of the Kremlin Regiment. In Ufa, volunteers looked after individual burials in city and rural cemeteries. In Krasnoyarsk, oil workers improved the monument to “Soldiers-athletes of the Krasnoyarsk Territory – participants in the Great Patriotic War”. In Nefteyugansk, the monument to “Loyal Sons of the Fatherland” was renovated. In Buzuluk, work was carried out at the memorial to “Mass grave of soldiers of the Czechoslovak People’s Army” and at the burial sites of veterans. In the village of Kolva in the Komi Republic, the “Memorial sign to soldiers of the Great Patriotic War of 1941-1945” was improved. In the village of Sernovodsk in the Samara Region, the monument to “Defenders of all generations” was tidied up. In all regions, the patriotic event ended with the ceremonial laying of wreaths and a minute of silence.

    Volunteers from Voronezhnefteprodukt organized the cleanup of the military burial ground in the village of Chertovitsy, Ramonsky District, Voronezh Region. 383 soldiers who died of wounds in hospitals in 1942-1943 are buried here.

    Workers of Kaluga Oil Products cleared and landscaped the area around the memorial sign to pilots near the village of Kosmachi in the Babyninsky District of the Kaluga Region. The sign was installed 10 years ago at the site of the heroic death of the Pe-2 aircraft crew in 1941.

    Employees of RN-North-West take care of the memorial to the sailors of the warship TShch-100 who died there, guarding the “Road of Life” during the siege of Leningrad. The memorial is located in the village of Vladimirovka in the Priozersky District of the Leningrad Region.

    For several years now, Orelnefteprodukt employees have been patronizing a mass grave in the village of Gnilets, Trosnyansky District, Oryol Region. Here are buried 427 soldiers of the 1st Battalion, 605th Infantry Regiment, 132nd Infantry Division, who died in the fiercest battles on the Northern Face of the Kursk Bulge on July 7, 1943. This year, in honor of the Victory anniversary, volunteers have decorated a flower bed in the form of a St. George ribbon on the territory of the Vyazhi military-historical complex in the Novosilsky District, Oryol Region, where the offensive operation to liberate Oryol began in July 1943.

    Rosneft supports projects and initiatives aimed at preserving the historical memory of the immortal feat of the Soviet people during the Great Patriotic War.

    Department of Information and Advertising of PJSC NK Rosneft May 7, 2025

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

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Property Market Analysis – NZ’s regional property markets diverge since peak – Cotality

    Source: Cotality – Kelvin Davidson, Chief Property Economist for Cotality NZ (formerly CoreLogic)

    In this Pulse article, Kelvin Davidson, Chief Property Economist for Cotality NZ (formerly CoreLogic), explores the significant regional divergences that have emerged since the post-COVID peaks.

    Following the dramatic growth in property values during the COVID-era boom, New Zealand’s housing market has entered a more fragmented phase. While national indicators suggest a stabilisation in values, the underlying regional picture tells a far more complex story — one marked by stark divergences in performance, resilience, and recovery.

    New analysis from Cotality reveals that while some regional markets have already surged past previous highs, others — particularly in parts of Auckland and Wellington — remain well below their cyclical peaks.
    In fact, over a dozen areas are still more than 20% off their highs, highlighting how uneven the past few years have been across the country.
    As mortgage rates ease and affordability improves in select locations, this Pulse takes a closer look at the forces shaping these regional variations — shedding light on affordability trends, economic drivers, and standout performers such as Hamilton, Queenstown, and much of Canterbury.Some areas are back to peak, others languishing
    Cotality’s latest hedonic Home Value Index shows there were three areas that set their own new record highs for property values in April – New Plymouth at $711,699, Westland at $493,500, and Kaikoura at $775,443. While the early signs of growth have recently re-emerged in many other parts of the country – driven by lower mortgage rates – the gap compared to where property values were at the peak remains significant.Indeed, 13 areas still have property values more than 20% below the peak, all of them either in the Auckland or Wellington regions, apart from Wairoa (-21%).

    Both Lower Hutt and Upper Hutt sit at -24% compared to the peak, with Wellington City at -23% and Porirua -22%. Waitakere is -23%, with Papakura and Manukau at -22% apiece. ‘Rural’ areas of Wellington Region such as South Wairarapa and Carterton sit at -21%.

    A story of South Island affordability?

    Another distinct trend that stands out is the north-south split – with the South emerging as a clear winner when it comes to affordability.

    Take areas such as Grey, Buller, Clutha, and Gore, where the current figure for mortgage payments as a percentage of gross median household income is less than 30% (versus 46% nationally).

    By contrast, Tauranga’s mortgage affordability measure is still 54% and Kapiti Coast sits at the same level.

    “Affordability remains a key pillar of housing demand, and in many South Island regions we’re seeing that balance become a little more favourable for buyers,” said Kelvin Davidson, Chief Property Economist at Cotality NZ.

    Areas of interest

    Hamilton’s recent strength. Compared to the other main centres in the North Island, Hamilton hasn’t fallen as far (-10% from the peak) in the past three years or so and has been showing stronger signs of growth more recently too.

    Since January, values are up by +2.1% in Hamilton, matching Christchurch’s figure, and ahead of Auckland at +0.9% and Tauranga (which has edged down by -0.4%). The buoyancy of the surrounding rural economy at present may be supporting Hamilton’s market, with other factors potentially including the increased connectivity to Auckland via improved roading.

    Queenstown’s continued prominence. Despite an elevated median value of $1.66m, well ahead of second-placed North Shore (Auckland) at $1.31m, Queenstown has remained a reasonably buoyant market – ‘only’ down by 5% from the peak – still appealing to overseas buyers who can navigate the rules and also wealthy domestic investors.

    Canterbury’s resilience. Of the 17 areas that are back within 5% of their peak, eight are in Canterbury, including Christchurch, Waimakariri, Ashburton, and Timaru. This comes even though new housing supply volumes have been high across large parts of the Region and signals that property demand has been rising to match construction.

    Looking ahead

    While some of New Zealand’s largest urban centres remain well below their recent market peaks, a return to strong growth is not guaranteed. Structural factors—such as Auckland’s substantial pipeline of new townhouse developments and ongoing fiscal tightening in Wellington—may continue to weigh on short-term performance.

    Nevertheless, improved mortgage affordability and early signs of broader economic recovery are likely to support renewed value growth across many parts of the country in 2025, including Auckland and Wellington. As market fundamentals continue to evolve, buyers and investors alike will be watching closely for signs of renewed momentum.

    MIL OSI New Zealand News –

  • MIL-OSI Global: Indonesia’s ‘thousand friends, zero enemies’ approach sees President Subianto courting China and US

    Source: The Conversation – Global Perspectives – By Gilang Kembara, Research Fellow, Nanyang Technological University

    Indonesian President Prabowo Subianto participates in a panel discussion in Antalya, Turkey, on April 11, 2025. Photo by Ahmet Serdar Eser/Anadolu via Getty Images

    For much of April and into May, a team of negotiators from Indonesia have been in Washington to discuss trading relations between the world’s largest economy and another forecast to be in the Top 5 within a generation.

    The Southeast Asian nation was among those hit hard by the across-the-board tariffs announced on April 2, 2025, by President Donald Trump, with a proposed 32% levy on its exports to the U.S. Trump subsequently backpedaled, putting in place a 90-day pause on any additional tariffs beyond a new 10% minimum.

    So far, Indonesia – whose-second largest export market is the United States – has signaled its intent to negotiate rather than respond with countermeasures like some other countries targeted by Trump, such as China and Canada.

    Indonesia may even offer to relax protectionist policies aimed at boosting domestic manufactures as a concession. “People who have known me for a long time would say I’m the most nationalist person … but we have to be realistic,” said President Prabowo Subianto.

    The issue of Trump’s tariff policy is a major early test for Subianto, a right-wing populist whose worldview was shaped by decades of military experience. He views Indonesia and its place in the broader world through a lens of realist power politics – wanting to ensure Indonesia possesses adequate hard military power and robust economic performance.

    Through pushing both, Subianto hopes to ensure that Indonesia is not easily swayed by foreign influence and can avoid domestic discontent due to any economic malaise. His approach to ruling the nation of over 280 million people is driven by a desire to retain friendly relations with the United States and China, retaining close economic and security cooperation with both.

    U.S. Secretary of State Marco Rubio meets with Indonesian Foreign Minister Sugiono at the State Department in Washington, D.C., on April 16, 2025.
    Jim Watson/AFP via Getty Images

    Good neighbors, multilateral expansion

    Since declaring independence from the Netherlands almost 80 years ago, Indonesia’s foreign policy has been tied to a doctrine of “Bebas dan Aktif,” or “Free and Active.”

    Formulated by the country’s first president, Sukarno, at the onset of the Cold War, the policy intended to keep the country officially nonaligned from any major power bloc. While moving much closer to the West and the U.S. during the subsequent longtime authoritarian presidency of Suharto, Jakarta retained its official independent position in foreign policy.

    Subianto served in the military during the reign of Suharto, who was also at one point his father-in-law.

    As Indonesia’s leader, Subianto has pledged to enact a so-called foreign policy philosophy of “zero enemies, one thousand friends.” That approach stems from two main considerations. First, he seeks to secure economic agreements that will help fulfill his promise of 8% annual economic growth. Second, he aims to strengthen defense procurement and security cooperation to bolster Indonesia’s military position.

    Toward multilateralism

    As a part of his vision, Subianto has attempted to reframe some of the considerations that have long guided Jakarta’s foreign policy strategy.

    For decades, the Association of Southeast Asian Nations, or ASEAN, has served as Indonesia’s collective security buffer, forming a crucial component of its “Mandala” – or concentric circles – foreign policy perspective. However, the current administration has thus far appeared indifferent to using the regional body as a source of projecting power, as underscored by Indonesia’s absence from the ASEAN informal consultations on conflict-ridden Myanmar in December 2024.

    That is just one of several indications that Subianto is attempting to shift Indonesia’s role from a regional actor to an active global player.

    A crucial development in that more assertive approach came with the country’s accession in January 2025 to the BRICS groups of nations, the first time a Southeast Asian nation has been admitted.

    In a further bid to multilateral engagement, Indonesia has initiated plans to pursue membership in two transnational economic groupings: the Organisation for Economic Cooperation and Development, or OECD, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

    Much of this inclination toward multilateral engagement is rooted in Subianto’s worldview that can be summed up as this: “If you’re not at the table, you’re likely to end up on the menu.”

    The crucial China and US relationships

    And yet, despite Subianto’s broader multilateral ambitions, it is the U.S. and China that remain the critical relationships.

    During the early weeks of his presidency, Subianto made China his first overseas bilateral visit. It resulted in agreements between China and Indonesia worth up to US$10 billion, primarily focused on green energy and technology.

    The visit, which was especially notable given that Jakarta appeared to move closer to China’s position on conflicting territorial claims in the South China Sea can be seen as part of a broader shift toward Beijing.

    China’s massive population already serves as a lucrative export destination for Indonesian goods. Since 2016, China has been Indonesia’s biggest export market, beating out Japan and the U.S.

    That shift is likely to pick up pace in light of Trump’s tariffs, with Jakarta seeking to offset the increasing cost of American trade. And though Jakarta has signaled neutrality regarding the wider U.S.-Chinese dispute, officials in Jakarta and Beijing agreed in mid-April to boost mutual defense cooperation in the South China Sea.

    At the same time, the U.S. holds a particularly important place in Subianto’s mind. As a young soldier, Subianto spent time at military bases in the U.S., where he underwent special forces and counterterrorism training.

    He was later subjected to a travel ban from the U.S. from 2000 to 2020 on account of myriad allegations of human rights abuses related to his time in Indonesia’s special forces unit, Kopassus, which led to his being forcibly discharged from the Indonesian military in 1998.

    Yet the ban was rescinded after then-President Joko Widodo appointed Subianto to be Indonesia’s defense minister, and he was subsequently invited to Washington in 2020 during the first Trump administration.

    Washington was Subianto’s second official presidential visit destination in November 2024. During his trip, Subianto met with President Joe Biden to discuss Indonesia-U.S. bilateral relations, regional security issues and various other global matters. Subianto also had a brief phone call with President-elect Trump to congratulate him on his election victory.

    That relationship with Trump is likely to be a crucial one now, especially given the stakes of the mutual trading relationship.

    The U.S. is Indonesia’s second-biggest trading partner, after China. The value of trade between the two parties amounted to about $38.3 billion in 2024, with Indonesia exporting $28.1 billion to the U.S. while importing $10.2 billion. Seeking to avoid tariffs of 32%, an Indonesian trade delegation has been negotiating with Trump administration officials, signaling its intent to buy more American goods, make trade concessions and even lower local content requirements on Indonesian-made goods to allow more American-made components.

    Promoting pragmatism

    There are, of course, ongoing differences between Indonesia and the U.S. – not only the ongoing trade issue but also other areas, including the Israel-Hamas war. Indonesia, the largest majority Muslim country in the world, has been a staunch supporter of Palestinian rights and highly critical of Israeli policy.

    Yet even here, Subianto seemingly is open to pragmatism, with reports that the Indonesian government is floating the idea of normalizing ties with Israel in a bid to ease entry into the OECD.

    In a similar vein, one can expect that Subianto will opt for pragmatism in his dealings with Trump, prioritizing Indonesia’s security and defense cooperation with Washington, while sidestepping any issues that might divide them along the way.

    Under Subianto, Indonesia is embarking on a foreign policy that stresses the importance of maintaining robust and active bilateral ties with the U.S. At the same time, it is strengthening its China relationship. And away from both, it is asserting its own independence through bolstering its position in numerous multilateral bodies.

    How Subianto handles those various dynamics is likely to be a defining issue of his presidency.

    Gilang Kembara 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. Indonesia’s ‘thousand friends, zero enemies’ approach sees President Subianto courting China and US – https://theconversation.com/indonesias-thousand-friends-zero-enemies-approach-sees-president-subianto-courting-china-and-us-252219

    MIL OSI – Global Reports –

  • MIL-OSI Global: North Korean spy drama in China may signal Beijing’s unease over growing Pyongyang-Moscow ties

    Source: The Conversation – Global Perspectives – By Linggong Kong, Ph.D. Candidate in Political Science, Auburn University

    Chinese authorities in the northeastern city of Shenyang reportedly arrested a North Korean IT specialist in late April 2025, accusing him of stealing drone technology secrets.

    The suspect, apparently linked to North Korea’s main missile development agency, was part of a wider network operating in China, according to the story, which first appeared in South Korea’s Yonhap News Agency. In response, Pyongyang was said to have recalled IT personnel in China.

    The story was later circulated by several Chinese online outlets. Given the tight censorship in China, this implies a degree of tacit editorial approval from Beijing – although some sites later deleted the story. In a response to Yonhap over the alleged incident, a Chinese Foreign Ministry spokesperson noted that North Korea and China were “friendly neighbors” that maintained “normal” personnel exchanges, without denying the details.

    The incident suggests a rare semipublic spat between the two neighboring communist countries, contradicting the image of China and North Korea as “brothers in arms.”

    As a scholar of Northeast Asian security, I see the arrest – which has gotten little attention in English-language media – as representative of a wider, more nuanced picture of the two countries’ current relations. There are signs that Beijing is growing frustrated with Pyongyang – not least over North Korea’s increasing closeness with Moscow. Such a development challenges China’s traditional role as North Korea’s primary patron.

    In short, the arrest could be a symptom of worsening ties between the two countries.

    Beijing’s dilemma over North Korea

    North Korea has long been seen by Beijing as both a strategic security buffer and within its natural sphere of influence.

    From China’s perspective, allowing a hostile force to gain control of the peninsula – and especially the north – could open the door to future military threats. This fear partly explained why China intervened during the Korean War of 1950-1953.

    Beyond security, North Korea also serves as an ideological ally. Both countries are run by communist parties — the Chinese Communist Party and the Workers’ Party of Korea — although the former operates as a Leninist party-state system with a partial embrace of market capitalism, while the latter remains a rigid socialist state characterized by a strong personality cult.

    Chinese President Xi Jinping holds a welcoming ceremony for North Korean leader Kim Jong Un in Beijing on Jan. 8, 2019.
    Xinhua/Li Xueren via Getty Images

    Even today, Chinese state media continues to highlight the bonds of “comradeship” with Pyongyang.

    However, Pyongyang’s nuclear ambitions have long troubled Beijing. North Korea has conducted multiple nuclear tests since 2006 and is now believed to possess nuclear weapons capable of targeting South Korea, Japan and U.S. bases in the region.

    China supports a denuclearized and stable Korean peninsula – both for regional peace and economic growth. Like the U.S., Japan and South Korea, China opposes nuclear proliferation, fearing North Korea’s periodic tests could provoke U.S. military action or trigger an arms race in the region.

    Meanwhile, Washington and its allies continue to pressure Beijing to do more to rein in a neighbor it often views as a vassal state of China.

    Given China’s economic ties with the U.S. and Washington’s East Asian allies – mainly South Korea and Japan – it has every reason to avoid further instability from Pyongyang.

    Yet to North Korea’s isolationist rulers, nuclear weapons are vital for the regime’s survival and independence. What’s more, nuclear weapons can also limit Beijing’s influence.

    North Korean leader Kim Jong Un worries that without nuclear leverage, China could try to interfere in the internal affairs of his country. After the death if Kim’s father, Kim Jong Il, in 2011, Beijing was thought to favor Kim Jong Un’s elder half-brother Kim Jong Nam as successor — possibly prompting Kim Jong Un to have him assassinated in 2017.

    But despite ongoing tensions over the nuclear issue, China has continued to support the North Korean regime for strategic reasons.

    For decades, China has been Pyongyang’s top trading partner, providing crucial economic aid. In 2023, China accounted for about 98% of North Korea’s official trade and continued to supply food and fuel to keep the regime afloat.

    Pyongyang pals up with Putin

    Yet over the past few years, more of North Korea’s imports, notably oil, have come from another source: Russia.

    North Korea and Russia had been close allies during the Cold War, but ties cooled after the Soviet Union collapsed in the early 1990s.

    More recently, a shared hostility toward the U.S. and the West in general has brought the two nations closer.

    Moscow’s international isolation following the 2022 invasion of Ukraine and its deteriorating ties with South Korea in particular have pushed it toward Pyongyang. North Korea has reportedly supplied large quantities of ammunition to Russia, becoming a critical munitions supplier in the Ukraine war.

    Though both governments deny the arms trade – banned under United Nations sanctions – North Korea is thought to have received fuel, food and access to Russian military and space technology in return. On March 8, 2025, North Korea unveiled a nuclear-powered submarine that experts believe may involve Russian technological assistance.

    By 2024, Russian forces were using around 10,000 shells per day in Ukraine, with half sourced from North Korea. Some front-line units were reportedly using North Korean ammunition for up to 60% of their firepower.

    High-level visits have also increased. In July 2023, Russia’s defense minister, Andrey Belousov, visited Pyongyang for the 70th anniversary of the Korean War armistice, followed by Kim Jong Un’s visit to Russia in September for a summit with President Vladimir Putin.

    Russian President Vladimir Putin and North Korean leader Kim Jong Un share a toast during a reception in Pyongyang on June 19, 2024.
    Vladmir Smirnov/AFP via Getty Images

    In June 2024, Putin visited Pyongyang, where the two countries signed a comprehensive strategic cooperation agreement, including a pledge that each would come to the other’s aid if attacked.

    Soon after, North Korea began sending troops to support Russia. Intelligence from the U.S., South Korea and Ukraine indicates that Pyongyang deployed 10,000 to 12,000 soldiers in late 2023, marking its first involvement in a major conflict since the Korean War. North Korean soldiers reportedly receive at least US$2,000 per month plus a bonus. For Pyongyang, this move not only provides financial gain but also combat experience should war ever reignite on the Korean Peninsula.

    Why China is worried

    China, too, has remained on friendly terms with Russia since the war in Ukraine began. So why would it feel uneasy about the growing closeness between Pyongyang and Moscow?

    For starters, China views Pyongyang’s outreach to Moscow as a challenge to its traditional role as North Korea’s main patron. While still dependent on Chinese aid, North Korea appears to be seeking greater autonomy.

    The strengthening of Russia–North Korea ties also fuels Western fears of an “axis of upheaval” involving all three countries.

    Unlike North Korea’s confrontational stance toward the West and its neighbor to the south, Beijing has offered limited support to Moscow during the Ukraine war and is cautious not to appear part of a trilateral alliance.

    Behind this strategy is a desire on behalf of China to maintain stable relations with the U.S., Europe and key Asian neighbors like Japan and South Korea. Doing so may be the best way for Beijing to protect its economic and diplomatic interests.

    China is also concerned that with Russian support in nuclear and missile technologies, Pyongyang may act more provocatively — through renewed nuclear tests or military clashes with South Korea. And this would only destabilize the region and strain China’s ties with the West.

    A defiant and provocative Pyongyang

    The timing of the alleged spy drama may offer further clues regarding the state of relations.

    It came [just a day after] North Korea officially confirmed it had deployed troops to aid the Russian war effort. It also announced plans to erect a monument in Pyongyang honoring its soldiers who died in the Ukraine war.

    The last spy case like this was in June 2016 when Chinese authorities arrested a North Korean citizen in the border city of Dandong. It reportedly followed Pyongyang informing China that it would permanently pursue its nuclear weapons program.

    The China-North Korea relationship deteriorated further when North Korea successfully tested a hydrogen bomb in September 2016, prompting Beijing to back U.N. Security Council sanctions against Pyongyang.

    Again, this time North Korea shows little sign of bending to China’s will.
    On April 30, Kim oversaw missile launches from North Korea’s first 5,000-ton destroyer, touted as its most heavily armed warship.

    None of which will help ease Beijing’s concerns. While China still sees Pyongyang as a critical buffer against U.S. influence in Northeast Asia, an increasingly provocative North Korea, fueled by a growing relationship with Russia, is starting to look less like a strategic asset — and more like a liability.

    Linggong Kong 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. North Korean spy drama in China may signal Beijing’s unease over growing Pyongyang-Moscow ties – https://theconversation.com/north-korean-spy-drama-in-china-may-signal-beijings-unease-over-growing-pyongyang-moscow-ties-255698

    MIL OSI – Global Reports –

  • MIL-OSI Global: How to manage financial stress in uncertain times

    Source: The Conversation – USA – By Jeffrey Anvari-Clark, Assistant Professor of Social Work, University of North Dakota

    Having an action plan for personal finance is critical in uncertain times. Photo by Nicolas Guyonnet/Hans Lucas/AFP via Getty Images

    American families are struggling to keep up with their bills.

    The cost of food soared by more than 23% from 2020 to 2024. Other price increases, which are especially steep for vehicles, insurance, child care and housing, come as nearly 40% more people are behind on their credit card payments than in 2022.

    Now, uncertainty arising from zigzagging tariffs, firing of tens of thousands of federal workers and contractors, and massive cuts and freezes to federally funded programs means that more people are increasingly pessimistic about the economy.

    As an assistant professor of social work, I have found through my research that differences in how people experience, behave toward and feel about their personal finances have as much of an impact as do their age and gender on certain financial decisions. And those decisions, in turn, can affect their income and wealth moving forward.

    Improving your ‘financial efficacy’

    Scholars like me use the term “financial efficacy” when we’re assessing whether someone has personal finance know-how and the ability to put it to good use. People with a high level of financial efficacy can be more able to weather bouts of financial hardship and build wealth.

    Although everyone’s situation is unique and individual resources vary, there are still five broad areas that personal finance experts say are linked to good financial outcomes: emotional regulation, problem-solving skills, an ability to achieve goals, self-confidence and risk management.

    1. Being calm and carrying on

    Remaining calm in the face of a potential – or real – financial crisis tends to make it easier to think through important decisions. In contrast, reacting out of fear often leads to mistakes or quick fixes with costly long-term consequences. For example, rushing to fix a problem could lead you to take out a pay-day loan with high interest rates and fees.

    That’s why you should avoid making big financial decisions in a hurry.

    Waiting until you feel calm, perhaps giving yourself 24 hours to think it over, can protect you from making a bad situation worse. But don’t wait too long – procrastination can lead to late fees and compound your problems.

    Keeping your emotions under control depends on having healthy coping mechanisms for stressful situations. And having healthy habits helps to manage that stress.

    Consult an expert if you’re not sure how to tackle a financial challenge.
    Photo by Jeff Gritchen/Digital First Media/Orange County Register via Getty Images

    2. Problem solving with some creativity

    Solving financial problems is an exercise in improvisation. This includes finding creative ways to increase your income through a new job or side hustles and to reduce your expenses. Or look for solutions that will buy you more time, such as negotiating a repayment plan for an outstanding bill.

    This perseverance and resourcefulness often requires relying on skills you’ve used in the past. And it may help if you seek advice from people who you know have made good financial choices before.

    When in doubt about how to solve a financial problem, go see a financial counselor or social worker who can help assess your situation and identify the next steps. But be wary of the so-called finfluencers – short for financial influencers – who are active on social media. Instead, learn from the experts who focus on consumer protection and unbiased education.

    3. Setting goals and keeping track of them

    Achieving goals can be a short-term activity, like solving an immediate problem, or a longer-term process. It means keeping a clear outcome in mind and being able to tell when you’ve met a goal. More complex goals may need to be broken down into multiple milestones to stay on track.

    Whenever you’re in deep financial trouble, try to closely monitor your income and expenses. Adapt your budget according to what’s important to you. This will increase your sense of control over the situation.

    Tally up all your debt, including from credit cards, autos, student loans, medical or utility bills, and home mortgages. Figure out what you owe and to whom, and put together a plan to repay them. And if this feels overwhelming, that’s OK: A credit counseling nonprofit can help walk you through the process.

    Listing all your debt on paper or in a spreadsheet helps reduce anxiety and fear of the unknown. Having the plan helps you see a real way toward a financially stronger future. Then, take action and start paying them down.

    One possibility is to ask creditors for an extension or modified repayment schedule for a mortgage or car loan. Communicating with them up front shows them you are taking responsibility, and they will be more likely to work with you.

    Americans now owe an average of $6,455 in credit card debt. Paying in full during the grace period instead of later, with interest, can result in a substantial difference in what you owe.

    You never know when extra savings will come in handy.
    Faga Almeida/Universal Images Group via Getty Images

    4. Gaining more self-confidence through practice

    It’s always easier to be confident that you can achieve something if you’ve done it before. This is how confidence builds on itself.

    But what if you’re in a new situation? It can help reflecting back on your personal history, realizing that you’ve met challenges in the past, and being reasonably assured that you can do it again. Such confidence then helps you keep calm, think through some solutions and see that you can achieve your goals.

    Improving your money management confidence and skills can reduce your anxiety and stress in the moment. It can show you those areas of your financial life that are within your control and illumine the way forward to a healthier financial future.

    5. Planning ahead reduces your risks

    Even if your finances are OK today, I would advise you to plan ahead. It’s important to identify your own informal safety nets before you need them.

    Let’s say you had to pay an unexpected $400 bill. How would you handle it?

    Would you call a friend or a relative? Have that amount saved up, ready and waiting for emergency use? Cover it with your income? According to the Federal Reserve, only 63% of Americans could cover a $400 financial shock with the cash they have on hand.

    By regularly setting aside some of the money you earn, you can simultaneously manage your risks better and develop the skills to achieve bigger goals.

    Managing your own financial risks means doing your best to prevent a bad situation from getting worse. It also means you might be able to prevent a catastrophe in the future or be able to deal with it better.

    Having insurance policies, such as life and disability, homeowners or renters, and health and auto, is part of this. But so are maintaining enough savings to cover an emergency or having multiple income streams.

    The steps you take can also include something less tangible, such as caring for your health or tending to your relationships with friends and relatives so you can call on them when times are truly tough. Or better yet, they’ll be able to call on you.

    Jeffrey Anvari-Clark 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 to manage financial stress in uncertain times – https://theconversation.com/how-to-manage-financial-stress-in-uncertain-times-255583

    MIL OSI – Global Reports –

  • MIL-OSI Global: Repealing the estate tax could create headaches for the rich – as well as worsen inequality

    Source: The Conversation – USA – By Reid Kress Weisbord, Distinguished Professor of Law and Judge Norma Shapiro Scholar, Rutgers University – Newark

    As it stands, only a tiny fraction of America’s wealthy are ever subjected to the estate tax. Krisanapong Detraphiphat/Getty Images

    Nothing is more certain than death and taxes, Benjamin Franklin famously declared. And, since 1916, the federal government has imposed an estate tax on the transfer of property owned at death.

    But the Trump administration and Republican lawmakers may be on the verge of changing all that. GOP legislators are now considering a massive bill that includes major tax law changes and could pass by June or July 2025. Among the measures under consideration in both the House and Senate is the Death Tax Repeal Act, which would end the federal estate tax and reduce the tax rate on lifetime gifts.

    If the Death Tax Repeal Act were to become law, it would happen at a pivotal moment. In the coming years, baby boomers are expected to leave an estimated US$84 trillion to their heirs, in what’s been called the largest wealth transfer in human history.

    As law professors who specialize in trusts and estates, we’re interested in what might happen next. Interestingly, while the long-term impact to the federal budget would be significant, repealing the estate tax would complicate estate planning for the wealthy taxpayers who might not save all that much money. To understand why, let’s consider how the estate tax works now.

    Estate planning under current law

    The estate tax – which opponents of the policy have long derided as “the death tax” – is imposed on property that is transferred at death. It is part of the federal gift and estate tax system, which imposes a 40% tax on gifts made during life or transferred at death. Supporters of the estate tax argue that it reduces inequality and encourages charitable giving.

    But most Americans, even the very rich, will never pay any gift or estate tax. That’s because millions of dollars of assets transferred after death are completely exempt from it.

    For 2025, the cumulative gift and estate tax exemption is $13.99 million for individuals and $27.98 million for married couples. The current exemption doubled under the Tax Cuts and Jobs Act, which President Donald Trump signed into law in 2017. And it sunsets this year. Unless Congress passes new legislation, the exemption amount will go back to its 2017 base of $5 million for individuals, plus an inflation adjustment. That would increase the number of estates on which it would be levied.

    If the Death Tax Repeal Act passes, of course, then there will be no federal transfer tax imposed on estates.

    The estate tax is a lightning rod on Capitol Hill, even though it doesn’t affect many Americans. In 2022, the U.S. Treasury collected $22.5 billion in estate tax revenues from 3,170 estates. More than 3 million people died, so only 0.1% of decedents left enough assets for their estates to pay the tax.

    The big freeze: How the ultrarich reduce their tax liability

    Beyond taking advantage of this generous exemption, wealthy taxpayers currently use several planning techniques to reduce or eliminate estate taxes.

    A common strategy involves minimizing tax on assets that are likely to grow in value. Suppose, for example, a person owns property worth $25 million, and they have already used up their exemption (currently $13.99 million). If that $25 million property appreciates in value to $125 million, and the person waits until death to transfer it to the next generation, the entire investment – all $125 million – would be subject to the 40% estate tax.

    To reduce those taxes without entirely giving up control, sophisticated “estate freeze” planning techniques allow owners to keep some powers over the gifted property while transferring it for gift tax purposes before assets appreciate in value. In our example, if the $25 million asset were transferred through a freeze device such as an intentionally defective grantor trust, then the only tax would be a 40% gift tax on the $25 million. All of the appreciation – the other $100 million – would incur no gift or estate tax.

    Other estate planning techniques could further reduce the valuation for transfer tax purposes through minority interest, lack of marketability and other discounts. It’s through techniques like this that wealthy Americans are able to pass along approximately $200 billion each year in inherited assets without paying estate taxes.

    The Death Tax Repeal Act would not directly affect the tax treatment of charitable giving at death – over $40 billion – but it could alter incentives for philanthropic giving.

    Repealing the estate tax could upend existing estate plans

    If Congress repeals the estate tax but keeps the gift tax as proposed, many estate freeze planning techniques previously used by the ultrarich would become obsolete. There would be no incentive to make a lifetime gift of property that would appreciate: Individuals who hold onto their property until death would avoid both federal transfer and capital gains taxes.

    As a result, repealing the estate tax would turn existing estate plans on their head. Estate freeze strategies are premised on a calculated trade-off: To reduce or eliminate estate taxation at death, wealthy donors choose to make lifetime gifts even though doing so alters lifetime ownership rights, generates gift tax liability and sacrifices other tax benefits at death.

    Without an estate tax, existing estate freeze plans lock in the costs of lifetime gifting without any payoff at death. What’s more, some estate freeze plans can’t be changed. For example, an intentionally defective grantor trust must be irrevocable to freeze valuation for gift tax purposes.

    So while repealing the estate tax might seem appealing to wealthy Americans, the actual tax benefit could be modest at best for taxpayers who established estate plans under the current system. Financial advisers have also expressed concern about creating new estate plans designed to benefit from estate tax repeal because a future Congress could revive the tax.

    Repealing the estate tax could also have macroeconomic implications. Tax incentives to retain ownership until death could tie up capital in ways that dampen economic growth. Individuals tend to become increasingly risk-averse with age, so the Death Tax Repeal Act could skew investments toward safer asset classes. That could deprive younger generations of access to capital for new ventures, such as startups.

    The bottom line is that repealing the estate tax may hurt both taxpayers and the government. People with sufficient wealth to exhaust the high exemption are likely to have established estate plans that can’t be changed to benefit from estate tax repeal. Meanwhile, for new estate plans that seek to retain property ownership until death, the government will lose an important source of tax revenue – $22.5 billion in 2022 – collected from a tiny number of very wealthy estates that can afford to pay the tax.

    And, of course, repeal would also abandon the original purpose of the estate tax, which sought to reduce extreme concentrations of wealth.

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

    – ref. Repealing the estate tax could create headaches for the rich – as well as worsen inequality – https://theconversation.com/repealing-the-estate-tax-could-create-headaches-for-the-rich-as-well-as-worsen-inequality-254871

    MIL OSI – Global Reports –

  • MIL-OSI Global: Measles could again become widespread as cases surge worldwide

    Source: The Conversation – USA – By Rebecca Schein, Assistant Professor of Infectious Disease Pediatrics, Michigan State University

    Measles is one of the most infectious diseases on the planet. Kateryna Kon/Science Photo Library via Getty Images

    Globally, measles is on the rise across the U.S., Canada, Mexico, South America and parts of Europe. In 2025, North and South America saw 11 times more cases than during the same period last year. In Europe, measles rates are at their highest point in 25 years.

    In the U.S., as of May 2, 2025, health authorities have confirmed 935 cases of measles affecting 30 states. This is a huge surge compared with the 285 cases reported in 2024. A large measles outbreak is happening in Canada, too, with over 1,000 cases.

    The Conversation asked Rebecca Schein, a specialist in pediatric infectious diseases, to explain what this spike at home and abroad might mean for a disease that was declared eliminated from the U.S. in 2000.

    How do measles cases this year compare with previous years?

    From 2000 to 2010, less than 100 measles cases were reported each year in the U.S. Since 2010, there have been isolated outbreaks, mainly in unvaccinated communities, with approximately 200 to 300 cases a year. The latest major outbreak in the U.S. was in 2019, with 1,274 cases, primarily in the New York City metropolitan area and parts of New Jersey.

    Cases fell in 2020 to 2023 during the COVID-19 pandemic, returning to prepandemic levels in 2024. Currently, most U.S. cases are coming from an epidemic in Texas, with 702 confirmed cases as of May 6. Of these, 91 people were hospitalized and three people, two of them children, died. Measles cases are still being reported. Texas is one of 12 measles outbreaks documented in the U.S. in 2025 to date.

    The World Health Organization has declared both North and South America to be at high risk for measles. Canada reported a total of 1,177 cases as of April 19, with 951 of them linked to an outbreak that began in New Brunswick in October 2024 and spread to seven provinces. In 2023, there were 12 measles cases in all of Canada.

    Mexico reported 421 confirmed measles cases as of April 18, and another 384 cases are under investigation. There are also small measles outbreaks in South America, with Belize reporting its first two cases since 1991. Brazil reported five cases, and in Argentina there are 21 confirmed cases of measles, mainly in the capital city of Buenos Aires.

    U.S. exports these days include measles.

    In Europe, measles cases rose tenfold, hitting 35,212 in 2024, according to the European Centre for Disease Prevention and Control.

    How did the US eliminate measles?

    Measles is one of the most contagious infections ever identified. One person with measles can spread the infection to 12 to 18 others. That number, which epidemiologists call R0, is 1 to 4 for the flu and 2 to 5 for COVID-19.

    In 1912, measles became a nationally reportable disease tracked by all the health departments in the U.S. At that time, there were about 3 million to 4 million cases and 6,000 deaths each year in the country. Medical care improved and the death rate decreased, but cases spiked to epidemic levels every two to three years.

    It was not until 1963, when the first measles vaccine became widely available, that cases dropped dramatically. The current measles vaccine, which is called the MMR vaccine because it also includes vaccines against mumps and rubella, was released in 1971. In 1977, the U.S. government launched the National Childhood Immunization Initiative to ensure that school children received vaccination against polio, diphtheria, pertussis, tetanus, mumps, rubella and measles. Vaccination rates in children starting elementary school rose to 96% by 1981. Beginning in 1993, the Vaccines for Children program helped ensure that every child could receive vaccinations regardless of ability to pay.

    Vaccination programs were a resounding success. By 2000, measles cases arising in the U.S. had fallen to zero, with infections occurring only in people who traveled abroad. That year, the Centers for Disease Control and Prevention declared that measles was eliminated in the country.

    Why are rising measles rates so worrisome?

    Measles is a virus, like the common cold. Unlike bacterial infections, which can be treated with antibiotics, viral infections are typically not treatable but can often be prevented through vaccination programs.

    Vaccination stimulates the body’s immune system to make antibodies to fight a specific infection. For most people, just one dose of the measles vaccine protects them from infection. The second dose helps ensure long-term protection. Measles is so infectious that 95% of the population must be vaccinated to protect the community, a concept called herd immunity.

    A man holds a sign at a rally for science in St. Paul, Minn., on March 7, 2025.
    Universal Images Group via Getty Images

    During the past 20 years, however, vaccination rates are decreasing globally, with an especially sharp drop during the pandemic from limited exposure to medical care. Aligned with this trend, measles cases in the U.S. have been rising. As a result, some infectious disease experts worry that measles is heading toward becoming a common infection again.

    What happens if measles rates continue to rise?

    Public health officials define endemic infections as being consistently present within a region. For example, the common cold and now COVID-19 are endemic in the U.S.

    A higher-than-normal number of cases in an area is termed an outbreak. For measles, an outbreak is defined as more than three cases in a county or local area. When cases from an outbreak spread outside the local area, that is an epidemic, and if an epidemic spreads into many countries across the world, it becomes a pandemic.

    The measles outbreak in Texas started in January 2025 as an outbreak in six counties and quickly reached epidemic levels, hitting a total of 29 counties and a count of 702 cases as of May 6.

    A 2022 study used a computer algorithm to model the trajectory of measles cases in the U.S. given the drop in vaccination rates during the pandemic. If children who missed vaccines due to the pandemic do not receive catch-up vaccinations, and vaccine hesitancy continues at current rates, the study found, then 21% of U.S. children – about 15 million – will be vulnerable to measles over the following five years. That is well below the number needed to prevent measles outbreaks.

    A study using a similar approach published in April 2025 found that measles is likely to become endemic again in the U.S. and predicted that the country could experience 850,000 cases over the next 25 years if vaccination rates remain the same. If vaccine rates decrease further, the study found, case numbers could increase to 11 million over the next 25 years.

    What would it take to reverse the rise in measles?

    Reversing this trend will require steadily increasing community vaccination rates. The April 2025 study found that boosting community vaccination rates by 5% would tamp down the increase in cases to between 3,000 and 19,000 over the next 25 years.

    Another epidemiological model that estimates measles spread, published in February, predicted that by intervening early in an outbreak with local health department support, measles outbreaks can be contained as long as 85% of the population is vaccinated against the disease.

    That, of course, requires ensured ongoing access to free and accessible childhood vaccinations and restoration of the public’s trust in measles vaccines.

    Rebecca Schein 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. Measles could again become widespread as cases surge worldwide – https://theconversation.com/measles-could-again-become-widespread-as-cases-surge-worldwide-255501

    MIL OSI – Global Reports –