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Category: housing

  • MIL-OSI: Marquette National Corporation Reports 2024 Annual Results

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 04, 2025 (GLOBE NEWSWIRE) — Marquette National Corporation (OTCQX: MNAT) today reported net income of $17.1 million for the year ended December 31, 2024, compared to net income of $16.1 million for the year ended December 31, 2023. The Company recorded earnings per share of $3.91 for 2024 as compared to earnings of $3.69 per share for the year ended December 31, 2023.

    At December 31, 2024, total assets were $2.208 billion, an increase of $66 million, or 3%, compared to $2.142 billion at December 31, 2023. Total loans decreased by $19.3 million, to $1.405 billion compared to $1.425 billion at the end of 2023. Total deposits increased by $30.0 million, or 2%, to $1.740 billion compared to $1.710 billion at the end of 2023.

    Paul M. McCarthy, Chairman & CEO, said, “the primary reason for the increase in consolidated earnings was a higher level of realized and unrealized gains on the Company’s equity portfolio in 2024. The increase in realized and unrealized gains on the Company’s equity portfolio was partially offset by a decrease in net interest income and an increase in provision for credit losses.”

    Marquette National Corporation is a diversified financial holding company and the parent of Marquette Bank, a full-service, community bank that serves the financial needs of communities in Chicagoland. The Bank has branches located in: Chicago, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Summit and Tinley Park, Illinois.

    For further information on financial results, visit: https://www.otcmarkets.com/stock/MNAT/disclosure.

    Special Note Concerning Forward-Looking Statements. 

    This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “bode”, “predict,” “suggest,” “project”, “appear,” “plan,” “intend,” “estimate,” ”annualize,” “may,” “will,” “would,” “could,” “should,” “likely,” “might,” “potential,” “continue,” “annualized,” “target,” “outlook,” as well as the negative forms of those words, or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

    A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures and supply chain constraints); (ii) effects on the U.S. economy resulting from the implementation of policies proposed by the new presidential administration, including tariffs, mass deportations and tax regulations; (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new or revised accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (v) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to the bank failures in 2023; (vi) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company’s commercial borrowers; (vii) increased competition in the financial services sector, including from non-bank competitors such as credit unions and fintech companies, and the inability to attract new customers; (viii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (ix) unexpected results of acquisitions which may include failure to realize the anticipated benefits of the acquisitions and the possibility that transaction costs may be greater than anticipated; (x) the loss of key executives and employees, talent shortages and employee turnover; (xi) changes in consumer spending; (xii) unexpected outcomes and costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xiii) the economic impact on the Company and its customers of climate change, natural disasters and exceptional weather occurrences such as tornadoes, floods and blizzards; (xiv) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xv) credit risk and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio and large loans to certain borrowers (including CRE loans); (xvi) the overall health of the local and national real estate market; (xvii) the ability to maintain an adequate level of allowance for credit losses on loans; (xviii) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xix) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xx) the level of non-performing assets on our balance sheets; (xxi) interruptions involving our information technology and communications systems or third-party servicers; (xxii) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxiii) changes in the interest rates and repayment rates of the Company’s assets; (xxiv) the effectiveness of the Company’s risk management framework, and (xxv) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

     
    Marquette National Corporation and Subsidiaries
    Financial Highlights
    (Unaudited)
    (in thousands, except share and per share data)
                     
                     
    Balance Sheet            
            12/31/24    12/31/23   Percent
     Change
                     
      Total assets   $2,207,663   $2,142,039     3 %
      Total loans, net     1,390,799     1,410,345     -1 %
      Total deposits     1,739,799     1,709,750     2 %
      Total stockholders’ equity   173,579     159,053     9 %
                 
      Shares outstanding   4,367,477     4,381,162     0 %
      Book value per share $39.74   $36.30     9 %
      Tangible book value per share $31.65   $28.24     12 %
                 
                 
    Operating Results            
        Year Ended December 31,   Percent
    Change
          2024     2023      
      Net Interest income $45,032   $48,654     -7 %
      Provision for credit losses   3,700     2,619     41 %
      Realized securities gains (losses), net   1,947     (662 )   *
      Unrealized holding gains on equity securities and exchange traded funds   20,416     15,476     32 %
      Other income   16,051     15,596     3 %
      Other expense   56,769     54,913     3 %
      Income tax expense   5,848     5,411     8 %
      Net income   17,129     16,121     6 %
                 
      Basic and fully dilluted earnings per share $3.91   $3.69     6 %
      Weighted average shares outstanding   4,376,610     4,372,570     0 %
                 
      Cash dividends declared per share $1.12   $1.12     0 %
                 
      Comprehensive income $19,858   $24,132     -18 %
                   
      * Not meaningful            
                   

    For more information:
    Patrick Hunt
    EVP & CFO
    708-364-9019           
    phunt@emarquettebank.com

    The MIL Network –

    March 5, 2025
  • MIL-OSI USA: Interview with Sean Colgan

    Source: NASA

    I’m really pleased that you agreed to take advantage of this opportunity.  I don’t recall if I have actually met you personally,  but if so, then I apologize for not remembering.

    I don’t think so, although you’ve certainly signed things for me.

    Well, I guess I have because I do remember seeing your name from time to time on various things. You’ve been at Ames a long time and we’ll have you talk about that in a little bit. The focus of these interviews is not specifically on your work. In fact, it was intended to broaden people’s understanding of who you are and what you do when you’re not at work, because we get compartmentalized and mostly get to know people through our work interactions, so we’ll be touching on your other interests. As you’ve seen if you’ve read some of these, we generally start with your childhood. I try to look up bios and things like that ahead of time to see what I can glean before these interviews but you don’t have a very substantial presence on the web.

    I’m not a very public person.

    I did find that out (laughs).

    I did not volunteer for these and I tried to lay low until you hunted me down! (laughs)

    Well, I think you’ll be pleased and as I said, you can stay as private as you want during this whole interview.

    Sounds good.

    We like to start with where you were born, your family at the time, what your parents did, if you have siblings, and then we ask when became aware of or developed an interest in what you have pursued as a career.

    OK, and I’m going to be looking sideways at my notes because I printed out your list of questions and thought about them. Hopefully I won’t mess it up too much. I’m a big believer in the written word. I was born in Oakland, just up the Bay.

    So was I, so we have a connection right there!

    Up through my preteen years I grew up split between Oakland and North Lake Tahoe. My dad was a masonry contractor. When school got out in June we would go up to Tahoe where there was lots of work for him, building foundations for homes and so forth. When Christmas break came in school, we came back down to Oakland. We had a home in both places and dad could get work in the winter in the Bay Area. In the middle of every year during my preteen years, I switched between two schools. It was usually a bit of a jolt because the Oakland schools were ahead of the Tahoe schools, so there were a couple weeks of flailing about in January trying to catch up. They all used the same textbooks, but we were a couple of chapters behind at that point and had to catch up.

    When I was 12, Dad had established his business well enough at Tahoe that my parents sold both of the houses, built a somewhat bigger one, and we moved to Tahoe permanently. So from seventh grade through high school it was all at the northern end of Lake Tahoe.

    I have one sibling, a brother.

    And when did I start thinking about becoming an astronomer? I can’t remember exactly, to be perfectly honest. I do remember my parents showing me the constellations. I can remember specifically which constellations my dad showed me and which ones my mom showed me. I can’t remember a time when I wasn’t interested primarily in being an astronomer, but I probably went through an astronaut phase because it was the ‘60’s!  I got an astronomy book for my birthday one year and I know it was before I could really read and understand it. I remember looking at the pictures. In thinking about this interview, I went back and looked.  That book was published when I was five, so probably by the time I was five I was talking about it enough that I got this book for my birthday. I don’t have any similar books on other topics from that time. All the other books I have from back then are astronomy books for kids.

    Well, you were living in Lake Tahoe, which by the elevation and the clarity and lack of ambient lights around you would have had a really good view of the stars and constellations.

    Right. It was great. Although before we moved up there full time we were mostly there in the summer, so it didn’t get dark until after my bedtime.  When we moved up there full time, then I could go out in the winter and yeah, we had a spectacular view of the southern sky. There were woods but we could see over the trees. We could see the center of the Milky Way, and so forth. I had binoculars and a couple of small telescopes that I’d use, along with a star atlas to point me toward interesting things to look at.

    Did you say what your mother did? Did she work outside the home?

    Mom was a writer.  We traveled each year when we were growing up. She would write travelogues of those trips and try to get them published. She also wrote haiku poetry, and she tried her hand at writing other things. She was published a bit, but not a whole lot. Mom did get one of her travelogues published in the Christian Science Monitor. That was a highlight for her.

    And was your brother older or younger?

    My brother is two years younger, and we had somewhat similar trajectories.  We’ll get to education later but he majored in physics as well. He followed me in similar universities, but ended up going into material sciences. He is now on the East Coast working for IBM.

    That’s great.

    He was named a Master Inventor in 2018.

    A what?

    A Master Inventor. He has over 200 patents, so IBM honored him with this title.

    That’s quite an honor!  Your education was interesting because of the split between the two schools.  But then at some point, when you went to college, you had to declare a major. You said you had already developed an interest in astronomy, so did you pursue that science discipline right off the bat?

    I went to UC Riverside for two years, and then I transferred to Caltech. My freshman year  I really nailed down my choice for astronomy. I remember going to the Career Center and taking an interest survey, which has nothing to do with what you’re able to do. It just asks what you’re interested in doing, and it came up as physicist or musician.  I have no musical skills so that pointed me in the other direction. I thought briefly about geology, since my dad had been a geology major, but I really settled on astronomy at that point, which is why I transferred. Riverside didn’t have an astronomy major,  they only had a physics major. I really wanted to get an astronomy background and start on it early.

    My time at Caltech was probably the toughest two years I’ve ever had. I was behind because I had gone to Riverside for two years and the Caltech student body was extremely competitive. Caltech was not generous with their transfer credits. I ended up taking a very heavy course load, but I did make it out in two years. From there I applied to a number of grad schools. I settled on Cornell for a couple reasons: First of all because they had groups working in the areas  of astronomy I thought I was interested in, which were radio and infrared. Second of all, after four years in southern California I really wanted to go to a more rural setting to continue my education.

    I have to ask this because when we’ve interviewed others who have gone to Cornell, most of them have mentioned the influence of Carl Sagan and I just wondered if that figured into your choice, or was he gone by the time you went there?

    Well, I  did meet Carl, at a second year reception he threw for the grad students.  He was gone most of my first year working on Cosmos the television show. He had taken a leave of absence and wasn’t around. When he came back he threw a reception for all of us, and I got to shake his hand. He was a planetary scientist, of course, and that was not where I was aiming my trajectory.  I didn’t see him a whole lot other than that one reception. Although from time to time the kind of people you really don’t want wandering around the halls would come around the building looking for Carl Sagan. Security would chase them down and get them out. These are really my most distinct memories of Carl.

    And your PhD was in astronomy, not physics?

    It was in astronomy and my dissertation was on radio astronomy. I did it almost exclusively at Arecibo (Arecibo Observatory, National Astronomy and Ionosphere Center, Arecibo, Puerto Rico) with a little bit at the VLA (Very Large Array Radio Telescope facility, near Socorro, New Mexico). I got to work with some really smart people at Cornell, observational and theoretical.

    At this point we usually inquire about the connection or the influence, that brought you from your PhD to NASA Ames.

    My degree was in radio astronomy but the other interest I always had along the way, which I hadn’t been able to look into, was infrared astronomy. Getting post docs is very competitive, back then we called them NRC’s. The NRC offer from Ed Erickson’s group at Ames was the best offer, so I came out for that. It wasn’t a sure thing, there was back and forth and the highest rated candidate had to turn down the job before they would make me an offer.  But fortunately for me the highest rated candidate was my office mate at Cornell. I knew he was going to turn down the offer as soon as he got another one he wanted, so I was aware a little bit in advance of getting the call from Ed that things had worked out.

    And Ed was your advisor?

    Ed was my advisor. So I came and did two years as an NRC and then continued working with the group. I had made myself sufficiently useful that when I was ready to apply for other jobs, Ed offered me a raise if I’d stay with the group and continue working. That was a really good time. We flew on the KAO (Kuiper Airborne Observatory). They didn’t really have facility instruments, so we had our own instrument, but we did support observers from outside our group. We probably had more flights than any other instrument on the KAO during that period. It was a lot of flights. We had to operate it ourselves. All of us had our own particular jobs on flights. We did everything from prepping for the observations, writing proposals, all the way through to seeing them published. We were a small team: Ed Erickson, Mike Haas; Jan Simpson, and Bob Rubin on the science side helped out. We had a shop guy, Gene Beckstrom, and others after him.  We had a lab technician, Jim Baltz. Dave Hollenbach would also work with us, and that was very rewarding. He was a very sharp guy in terms of theory, ideas and projects to do. Here is a photo of some of us with our instrument rack getting ready for a KAO flight:

    So you came in on an NRC postdoctoral fellowship in the mid-‘80’s?

    Yes, I started on October 6th, 1986.

    And your first work was on the KAO and then probably a decade later you continued on SOFIA (Stratospheric Observatory for Infrared Astronomy)?

    It was ‘95 or ‘96 when they shut down the KAO to use the funding for SOFIA development. I remember the meeting still. It was in the upstairs auditorium and they came in and announced they were shutting the KAO down. I think it was Dave Morrison, who was the division chief, who told us not to whine about shutting it down because planetary missions sometimes had years when they didn’t have their facilities. In this case it was only going to be two years and we would be up and flying in 1997. Of course, as we know, it was more like ten years after that before we were even close to flying.

    Yes, I thought the same thing, that it was not going to be two years. It always takes longer than that.

    Well, I don’t think anybody thought it was going to be as many years as it was.

    But you flew on both the KAO and SOFIA?

    I had ninety nine flights on the Kuiper (KAO) because I kept track of them, and on SOFIA I had two flights, so I was not a flyer on SOFIA. It was more of a facility observatory, and the people who flew a lot were really part of the observatory. They were operating the telescope or operating a science instrument. My flights on SOFIA were because I had written some software for the GREAT Instrument (German Receiver for Astronomy at Terahertz Frequencies, a modular dual-color heterodyne instrument for high-resolution far-infrared spectroscopy) to help them interface with SOFIA. I was along on  those commissioning flights for GREAT in case my software broke. They wanted me on board. Interestingly by the rules at the time, I wouldn’t be allowed to actually fix the software in flight because it was flight software and had to go through all the reviews. None of the people who could do the reviews were on the airplane, but I could see how it broke and maybe I could suggest workarounds. It was not nearly as much fun for me as the KAO. I didn’t really have a job. The software had issues from time to time, but it basically worked. Everybody else had jobs, so for me it was less interesting, which is why I didn’t make a huge effort to keep flying on SOFIA.

    Did you stay on the SOFIA project as a somewhat non flying support person?

    Yes, from when the Kuiper stopped flying until about, well now, my primary work on SOFIA has been first with the project science team during development – trying to make sure they met our requirements, helping everybody understand our requirements, trying to make sure they weren’t making any huge mistakes. They made them anyway, especially when they didn’t listen to us, but we did our best. During the early years of SOFIA, I was also on the Ames team developing AIRES – a facility Science Instrument for SOFIA. I led the software effort, but the development was canceled in 2001. I then got involved with the software that people would use to propose to SOFIA, the proposal software, the software to estimate how long you should be asking for time, the sensitivity of the instruments, pieces of software like that. I worked with Dave Goorvich. We got software from other observatories as starting points and then modified them for SOFIA, software “re-use” they called it. And that was basically my main job throughout SOFIA’s lifetime. Once we developed those, the USRA (Universities Space Research Association) folks built their team around maintaining them and I joined that team because I’d been working on this software for so long. I also got into the package I mentioned to help GREAT interface to SOFIA. It basically made SOFIA look like the telescope that the GREAT team had been using for years, an observatory called KOSMA. We called it the translator and it translated KOSMA commands into SOFIA commands; then SOFIA housekeeping back into KOSMA housekeeping, so they didn’t need to change their software to work with SOFIA. As the aircraft started flying, it became quite clear that I was oversubscribed. I was not meeting my deadlines for either of those two efforts, so I gave up the translator. They hired another fellow to maintain that, although I stayed in touch with it for some years, helping him when he had questions and so forth. I then focused my main effort over on SOFIA’s DCS (Data Cycle System) side.              

    What has been your most interesting work here at Ames?

    I’d say it was flying on the KAO, but very specifically it was Supernova 1987A which occurred after I had been here for only a couple of months. It went off in February of 1987. Nobody really knew what it would look like in the infrared to an instrument on an observatory like the KAO, so it was obviously a huge deal since it was the closest supernova for hundreds of years.  Our team just completely redirected  to carry out observations of the supernova.  Dave Hollenbach and I worked together to try and figure out what we would see. We wrote up the science portion of the proposal,. For these observations, our instrument – the CGS (Cooled-Grating-Spectrometer) – had to be fairly substantially reworked in the sense that the grating needed to be changed to go to lower resolution and the detectors needed to be changed to get wider bandwidth and go to shorter wavelengths. Ed and Mike worked long days, weeks, and months to make all of those changes happen. In our proposal we made some predictions about which lines we could see, mostly iron lines, and which ionization states. We put that in the proposal, which was accepted. We then wrote up the proposal as a separate paper. When we went down and did the observations, we actually got some of it right. Surprisingly, iron was indeed bright. We thought we’d be seeing all different ionized states of iron, from singly, doubly, triply ionized iron, when in fact it was very much concentrated in singly ionized iron with a little bit of doubly ionized iron, there was a faint line there. We had gotten the temperatures right, but we didn’t quite get the ionization right. We were in the ballpark, so I think this was really the most interesting work in that when we started nobody had really seen anything like it before. We were starting from very basic principles, and we followed that all the way through to a nice series of papers. We went down for three different epochs because the lines were changing with time as the supernova ejecta expanded. We obtained three sets of measurements, which resulted in three papers.

    What I’m currently working on? Well, SOFIA is, of course, shut down and I am working as part of the shutdown process. We’re trying to reprocess a lot of the data to bring it up to standard, especially the older data. We learned more about the instruments as time went on, so we can now do a better job of reducing the data. I’m helping out with reducing the data, getting it into the archive as we shut down, and of course, writing proposals.

    What comes next? So far I’ve collaborated mainly with Naseem, whom you have spoken to, Sarah Nickerson, whom you also have spoken to, and Doug Hoffman (whom we’ve also spoken to). So that’s proposals.

    How is your work relevant to Ames and the NASA mission? 

    Well, I’ve worked on NASA missions almost my entire career, so I think that’s the closest to relevance as you can get.

    What is a typical day like for you?

    I mostly work, well before the pandemic in my office, but now it’s back and forth. I do like to come into the office although this week is a little different. That’s why we’re doing this interview from home. My wife is out of town and I like to work at home on those weeks just to keep the dog out of trouble. So I’m at a computer. I’m a software guy and a data analysis guy, not a lab guy, so I work at the computer. I actually have several computers on my desk. I look like a real developer (laughs). If you see my desk, I’ve got a couple of big screens and couple of computers underneath hooked up to different things and I can switch them around. So that’s a typical day, but at home it’s a little tougher. I don’t have a desk that can really manage the big screens, so I’ve just got one little laptop screen to work with.

    Is home close enough that the pandemic shut down of the Center didn’t really save you a whole lot of commute time?

    I live across the Bay in Newark, which physically is not far, but traffic wise is not good. I typically come in later and stay later because that works with my wife’s schedule and also works with the traffic. We’re not so close that it’s easy. I hated during the pandemic having to work at home all the time because of the small screen and with no room to spread out piles of paper or stay organized. That was definitely a challenge. I was very glad to get back on site.

    What do you like most and least about your job?

    Most would be doing science, but I also enjoy coding. Least is probably the standard sorts of things that most people whine about when given any opportunity.  All the stuff that goes with the job that isn’t science or coding, like IT security and paperwork. Right now I’m in the midst of training, taking courses I’ve taken every year for the last ten years, which gets a little old after a while, things like that. But somebody thinks you need to do it, and I hope it makes us a better organization for everybody doing it.

    Do you have a favorite memory from your career? Or perhaps a research finding or breakthrough, or an unexpected research result?

    My favorite memory would be the Supernova 1987A work in general. We found some unexpected things there and we got some things right.

    If you could have a dream job, what would it be?

    My dream job is pretty close to what I have. Pretty close without all the extra stuff.

    What advice would you give to someone who wants a career like yours?

    Of course you’ve got to work hard, and you need to have an aptitude for it. It’s a very competitive field, so you’ve also got to realize that luck, or being in the right place at the right time, can be a factor in whether you continue or not.  I’ve had colleagues who were very good at what they do, but they just weren’t in the right place at the right time. They ended up leaving the field or doing something less than what they hoped. Some things are just out of your control.

    I did get lucky. I was in the right place at the right time. I flew on the Kuiper, and I developed skills. When SOFIA started, those skills were very much in demand.  That was my right place, right time moment, which is when I joined the civil service.  I had been a contractor  after my NRC ended through 1997. I became a civil servant then because there was so much work on SOFIA. I don’t know if that’s  helpful advice, but it’s just my take on things.

    Well, you’re right. There’s something to being in the right place, at the right time and being prepared, but there’s always the serendipity aspect, which is just part of life. You could have wound up somewhere else and been just as happy, you know.

    Oh yes, It doesn’t necessarily relate to happiness, but you’ve got to make the best with what you have.  I do feel lucky about that.

    Would you like to share anything about your family? Kids, pets, activities? You mentioned a dog?

    I’m going to mix the order up a little bit.

    Sure, go ahead.

    The accomplishment I’m most proud of that’s not science related would be 40 years of marriage to my fabulous wife. We just celebrated our 40th anniversary about a week and a half ago.

    Congratulations! That is indeed an accomplishment.

    So, no children but we do have a dog, a little Welsh Corgi. She’s our second corgi and she is just great. We do enjoy traveling. Typically, we’ll go on vacation in August. often to Europe. We’ve visited the UK five or six times, France a couple of times, Italy a couple of times. My father-in-law was born in Hungary, so we’ve gone there a couple times. Here is a photo of us at Lake Louise in 2019, with our Corgi.

    What do we do for fun the rest of the time? Besides leisure travel, I enjoy gardening. We also enjoy musical events.  We have season tickets to the San Jose Opera, for example, and we’ll go up to San Francisco for concerts a couple of times a year. We probably have an event every other month.  During the pandemic, the restaurants and movie theaters were closed, but wineries with outdoor spaces were open.  They started serving food during the pandemic, and they allowed dogs, so we got in the habit of doing a lot of wine tasting on weekends just to get out. We still do some of that. To celebrate our 40th, we went up to Napa and tasted a lot of great wines. (laughs)

    You mentioned that you’re not particularly musical, so you don’t play an instrument or anything, but you enjoy music and opera.

    I enjoy listening to music. I played instruments as a child but had no particular talent for it, so. . . .

    Do you like to read? And if so, any particular genre?

    I read a fair bit, and it’s sort of divided. For entertainment, I’ll read fantasy and science fiction, but when we go on our trips, I’m always buying books about what we’re doing. For example, if we go to France and visit cathedrals, I’ll buy books about how they built cathedrals; or in England I’ll read about old Stone Age tombs. Everybody’s heard about Stonehenge, but there are stone circles and other stacks of stones, big ones, all over the landscape, so I will buy books and read about them. I have books about Roman battle tactics, etc. Oh yes, and I also have a lot of geology books, depending on where we go. When we went to the Canadian Rockies, I got a lot of geology books about that locale. I bring those home, stack them up, and read them, hopefully before the next trip. So yes, a lot of reading. When my wife travels, sometimes I’ll go hiking. She’s gone up to 15-20 weekends a year  She’s a textile artist.She teaches lacemaking, which is the way they used to make lace by hand, before machines. There are groups around the country that enjoy lacemaking, so she travels to  teach workshops for them on weekends.

    Wow, that’s fascinating!

    This week, she’s actually up in Sparks, next to Reno, where the National Convention is going on. It moves around every year, but this year it’s relatively close. She travels a lot for that, which keeps her busy. When she’s away, our dog and I will sometimes go for hikes, if we don’t have too much other stuff to do. Interestingly,  we are not the only astronomer-lacemaker couple in the world (laughs). There’s an Australian couple – Ron and Jay Ekers – with Jay a lacemaker and Ron an astronomer. We had dinner with them once when they were visiting in the Bay Area because our wives knew each other. My wife had once traveled down to teach in Australia. Normally she just travels around the U.S., but she has done some international trips.

    Now, is this manual lacemaking with needles and thread or . . . ?

    There can be needles and thread. That’s one form of it. What my wife teaches is “bobbin lace”, which is made on a pillow usually stuffed with straw. Two bobbins are connected by a thread with many of these pairs used to weave threads together to create the pattern. Photos of Louise’s designs are on her website – https://colganlacestudio.com/. Here’s a photo of what a lace pillow looks like.

    Interesting. And when did she get interested in this? Was it something she learned as a child, from her mother or grandmother?

    No, it was at Cornell. She was in grad school there, which is where we met.

    And what was her course of study?

    She was in a Master’s program for historic preservation, basically how to preserve old buildings, of which there are many in upstate New York and few in the Bay Area. She had finished her class work, and I still had several years to go on my dissertation. She looked around for something to fill her time, and one of her friends – a colleague in her department – had already taken this up, and brought her to a meeting. She started taking classes from a local teacher, and by the time we moved west, she was well-versed. Not many people out here knew how to do it, so she started taking on students.

    So I’m calculating back, since I’m a numbers guy, that if you just celebrated your 40th anniversary, then you must have married her while you were still in grad school?

    Yes, about halfway through grad school, in 1983.

    Interesting. So you’re a little bit responsible for her developing this interest in lacemaking?

    I wouldn’t claim any of that.

    But you’re responsible for giving her the time to develop this interest in lacemaking that she has done so well in.

    It was all her effort. If anything, I made conditions difficult for her, and she found her way out (laughs). That’s probably the way I would phrase it.

    Fair enough. But it’s very interesting. I like when we can poke around a little bit and find out interesting things, because then people who read this will say, “Well, I didn’t know that he went there or that his wife does lacemaking or the other things that you’ve talked about. That’s part of the purpose of these interviews.  Who or what inspires you?

    That was a real easy one for me: the night sky.  It’s not so great in the Bay Area most times, but there’s so much going on up there. I mean, it’s really all laid out for you. Since I studied and read about  a lot about the sky as a kid, I know my way around it. a I also know fun little facts, so that’s entertaining to recall as well. When you get up in the mountains, of course it’s just beautiful.

    I feel the same way. I don’t see how anyone can look up at and ponder the night sky and not be just fascinated by it. The questions that come up about what it is, how it came to be, what its purpose is, if there is one, and all of that is just fascinating.

    Yes, I agree.

    Do you have a favorite image, of space or anything that is particularly meaningful to you?

    You know I don’t have one now. I mean, there are a lot of very nice ones out there. A big favorite I remember as a kid was a photo of H and Chi Persei, which is a double cluster of stars, not globular clusters but open clusters. It’s very colorful, with red stars and white stars and blue stars in the image – and just imagining it so far away, but these particular stars are so close together. I don’t know much about it, but something about it just impressed me. A photo like what I remember is at https://www.astrobin.com/337742/.

    The reason we ask about images is because we like to include them in the post, especially about things you’ve talked about.  You mentioned for example, the Supernova 1987A. If a picture from SOFIA came out of that it would be a great addition to this interview. And then maybe you have a picture of you and the corgi on a hike, or your wife doing lace work, anything like that would be great.

    Well, we’ll work on that.

    [Photo thoughts: The three of us from Lake Louise, link to H & Chi Persei photo on the web, Lace Pillow showing bobbins]

    That would be for when you return it after editing.  By the way the transcript is a living document so you can make changes right on it and that’s how it will go in. It isn’t all that formal, we’re not tracking edits or anything like that. We’ll add your pictures and get to a point where it’s set up as it would be when it gets posted and then we’ll send it to you for a final check.  We’re also several months out in terms of the queue of those that are going to be posted, so it won’t be immediate.

    Good.

    We’ve posted about 50 of these, but we’ve done another 20 that are in various stages of being made ready. We’ve sent them out but haven’t gotten them back yet because everybody’s so busy.  We do have a last question and that is do you have a favorite quote? One that you find meaningful, or witty, or clever, that kind of thing?

    I did think about it. Sometimes you asked the question in the online ones about inspirational quotes and this is definitely not inspirational.

    It doesn’t have to be.

    I was hoping that because you didn’t say it here. My favorite quote is one my mom said a lot when I was growing up. She always attributed it to her father. I actually looked it up on the web, because I would have thought Mark Twain perhaps said it. It doesn’t seem that anybody famous has said it though. The reference is in a book from just ten years ago. The quote is: “The reward for good work is more work.”

    Ah, I like that. That’s clever and witty and seems to be true.

    Right.

    One of my favorite quotes which I don’t think I put into my post because there’s so many of them is from Mike Griffin, former NASA Administrator. He was talking with the press, I think about risk management and why we do things that don’t always work out. He was explaining that there’s always a risk, and if you don’t accept the risk, then you don’t make progress, but they kept questioning him and pushing back on that idea. And he said, “I can explain it to you, but I can’t understand it for you.”  And I thought, that’s a good line!

    Anyway, you ran the table here on the questions and I appreciate that you prepared ahead of time and wrote some notes down, which made the interview go very well.

    As I said, I prefer the written word. I’m not as good at thinking on my feet.

    Is there something that you wish we had asked or had put down as a topic that we didn’t, that you would like to add here? And you can certainly add or change anything when we send this back. There’s a note on the transcript that you have full creative control. So if you wanted to say something but didn’t, you can type in an entire extra paragraph or extra question, or remove and cut out an entire section.

    And  with that, I’ll take the recording and start putting it on a paper and within a couple of weeks, I’ll send you the initial draft and then you can do with it as you wish and send any pictures or anything that relate to things that you talked about and then we’ll get it ready and put it in the queue and eventually you’ll get perhaps a few of your entitled 15 minutes of fame when this goes up. I will add that it goes up on the public side of the of the website so that your family or your friends, anybody can access it and read it.

    So if somebody googles names of interviews you’ve done, the links to the interviews come up.

    Well, I hope that doesn’t cause you heartburn.

    I’ve thought about that as I was phrasing my answers, and changed some passwords so I can include names in the photo captions

    I hadn’t thought of that aspect of it, but you’re probably right.

    Yeah.

    I never know what’s going to touch someone’s concerns.

    Well, just to be careful.

    (Mark) There’s another thing that even after we publish, we can still edit them years into the future. Everything on the main sites can be changed at any given moment. Also, Fred, just to note, our interviews rank pretty high on the Google rankings. Usually when you Google someone’s name and then NASA, our interviews are near the top of their results, like on the first screen that comes up.

    (Fred) Oh, really? I didn’t know that.

    (Mark) Yeah. This is a pretty good series, people check it out a lot.

    Which means that people googling names are clicking on the interviews and reading them.
    (Mark) People read these a lot.

    (Fred) The other series I do for the website is “Interesting Fact of the Month”.  Steve Howell suggested that would be a nice addition as we try to attract traffic to the website, and I heard a year or so ago that it was the top item on the code ST website, it got the most hits.

    (Mark) Yes, you’ve got spots one and two on your side projects!

    (Fred) Well, Sean, I appreciate that you were able to overcome your initial hesitation and take the time to work with us on this and I think you’ll be pleased with how it comes out. Thank you very much for being so organized.

    Thank you for your time.

    Interview conducted by Fred Van Wert and Mark Vorobets on June 29, 2023

    MIL OSI USA News –

    March 4, 2025
  • MIL-OSI USA: NACA Test Pilot Poses with Plane

    Source: NASA

    In this 1957 photo, George Cooper, a test pilot for the National Advisory Committee for Aeronautics, or NACA, stands next to a North American F-100, a supersonic fighter tested by the NACA. Cooper served as a pilot in World War II before being hired at the NACA’s Ames Aeronautical Laboratory in 1945. Between 1945 and his retirement in 1973, Cooper tested over 135 aircraft, routinely pushing them to their limits.
    On March 3, 1915, the NACA was established by Congress to “supervise and direct the scientific study of the problems of flight, with a view to their practical solution.” Over the course of its 43 years, the NACA became home to many of the nation’s best and brightest aeronautical engineers and world-class facilities. America’s flight capabilities for military and commercial uses were advanced through its cutting-edge research. It was upon this foundation that America’s civilian space agency was built. With the passing of the Space Act in 1958, the NACA was transformed into NASA and tasked with researching problems of flight in both the air and in space.
    Celebrate the 110th anniversary of the founding of the NACA with a new video series.
    Image credit: NASA

    MIL OSI USA News –

    March 4, 2025
  • MIL-OSI Economics: Michael S Barr: Promoting responsible innovation through the Novel Activities Program

    Source: Bank for International Settlements

    Thanks to the Alliance for Innovative Regulation for organizing this event and for bringing together banks, fintechs, and regulators to collaborate and foster responsible innovation.1

    Innovation, when done responsibly, brings tremendous benefits to consumers, financial institutions, and the economy at large. Innovation can make financial products and services better, cheaper, and safer. It can make banking accessible to more consumers, advancing financial inclusion. It can modernize our financial infrastructures, creating efficiencies and providing new tools for banks to manage risk.

    Innovation also comes with risks that need to be managed responsibly. Responsible innovation is in everyone’s interest. Consumers want the benefits of innovation through products and services they can trust. Banks have an interest in managing the complexities of innovation responsibly, ensuring that they recognize new and evolving risks to safety and soundness, follow relevant laws, and protect and serve their customers. Fintechs often play a key role in offering products and services that allow banks to meet these needs. And regulators and supervisors should develop regulatory and supervisory frameworks that allow banks to clearly understand and manage the risks associated with innovative activities. To achieve that, regulators should provide ongoing transparency and clarity on our approach.

    Today, I’d like to share how the Federal Reserve’s Novel Activities Supervision Program, launched in the summer of 2023, plays an important role in supporting responsible innovation at our supervised institutions.2 Prior to this program, the Federal Reserve established temporary working groups and task forces to better understand evolving technologies to inform supervision. Ultimately, though, we determined we needed a dedicated supervisory function for novel activities. There were a number of factors driving that decision that guided how we designed the Program.

    First, we understood that the pace of innovation was rapid. And we knew there would, of course, be benefits and risks stemming from innovation in the financial system. So we tasked the Novel Program with monitoring and understanding how these innovations and associated novel activities are used in banking and what benefits and risks they would pose. We gave them the mandate to keep up with the expertise related to use of new technologies and to employ new tools and data analytics in supervision. We invested time and research in understanding new technologies and businesses because we understood the importance of allowing innovation in the sector and avoiding excessively rigid stances on risk that don’t take into account the potential to make advancements in the sector and economy that benefit all of society.

    Second, we recognized that many financial institutions across the country are exploring and using many of the same technologies and similar novel business models. We felt it was important to create a coordinated approach to supervising novel activities across the Federal Reserve System. We initially identified two dozen firms, including firms of all sizes, for supervision by the Novel Activities Program. Firms are added or removed from the Program based on their engagement in novel activities. The supervisory program is designed to build a broad-based perspective of novel activities, the benefits and risks, and how those risks are managed. In this way, the Novel Program helps to enable similar supervision of similar risks, in a manner that reflects our current understanding of those activities in a variety of contexts.

    Third, while the technologies and products used by banks may be similar, their application and thus the benefits and risks may vary across business models. We understand the importance of tiering supervision to the type, extent, and level of risk posed by the novel activities and varied business models of supervised institutions and not imposing undue burden on firms. The Novel Activities Program employs a risk-based approach to supervision-meaning that the intensity of supervision is commensurate with the risk and scale of the activity. There is no one-size-fits-all model. Experts from the Novel team join the traditional supervisory teams that banks are used to working with on a regular basis, so there is no disruption or change in how we engage with banks. The Program is dynamic. As a bank changes its activities in this space, the rigor of the supervision similarly changes.3

    The Novel Activities Program serves as a central point of expertise on new and innovative activities, supporting coordinated and risk-based supervision, and facilitating collaboration and communication between supervisors and stakeholders, all of whom contribute to supporting responsible innovation.

    Next, let me speak to two important principles in our Novel Program-clarity and collaboration.

    Clarity

    Starting with clarity: for banks beginning to explore new technologies, supervisors should engage early in the process to understand the technology and the risks and provide a clear sense of their expectations along the way. Engagement allows for banks and their supervisors to share perspectives on effective risk management practices and the application of new technologies. Early and open dialogue creates opportunities for supervisors to provide feedback to banks on necessary risk management frameworks early on in their innovation process and to have an open dialogue that builds trust as products go to market.

    As novel activities become more developed, we can issue guidance, resources, and other types of communications to further disseminate information, gather input, and provide clarity on effective risk management for novel activities. For example, in May 2024, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation released a guide to assist community banks in developing and implementing third-party risk management practices, which could be a useful resource for banks seeking to engage in novel, technology-based partnerships.4 A few months later, the agencies issued a joint statement on arrangements with third parties to deliver bank deposit products and services, which discusses the risks these arrangements can present, offers examples of practices to manage those risks, and reminds banks of existing requirements and supervisory expectations.5 There is no-one-size-fits-all approach in how we engage and communicate guidance to our firms, but it is essential that engagement happen to provide clarity to both sides.

    I have said it before many times and want to reiterate it here: the Federal Reserve neither prohibits nor discourages banking organizations from providing banking services to customers of any specific class or type, as permitted by law or regulation. It is up to banks to choose their own customers, and not supervisors. That has been and will continue to be our practice. In fact, banks supervised by the Federal Reserve provide material and important services to the crypto-industry. For example, banks supervised by the Fed operate real-time, 24/7 payment platforms that serve as a primary mechanism for companies to exchange dollars to settle crypto-asset transactions. We monitor that activity from both a safety and soundness and financial stability lens, but we do not tell banks to serve or not serve those customers.

    Collaboration

    Turning to collaboration, the private sector is at the forefront of innovation and that ongoing engagement and collaboration with industry gives supervisors insight into the evolving nature of novel innovations and developments. Insights gathered from supervision, analysis, and monitoring activities, and industry engagement, can identify real improvements to how financial services are delivered to households and businesses and how risks are managed by banks. Collaboration can also reveal areas where we can provide regulatory clarity for banks looking to engage in new activities.

    I want to emphasize the importance of hearing from the public through tools like requests for information, or RFIs. The bank regulatory agencies published an interagency RFI on bank-fintech arrangements last July.6 The purpose of the RFI was to build on the agencies’ understanding of these arrangements by soliciting updated input on the nature of bank-fintech arrangements. This included effective risk management practices regarding those arrangements, and the implications of such arrangements for bank risk management, safety and soundness, and compliance with applicable laws and regulations. We were also interested in understanding whether enhancements to existing supervisory guidance would be considered helpful in addressing the risks associated with these types of arrangements. We received over 100 comments. Respondents shared their insights on many topics, including the risks and benefits of these arrangements and how the agencies can bring additional clarity to our supervisory expectations. Some in the banking sector commented that the Novel Activities Program is an example of how cross-team collaboration might deepen an agency’s understanding of technology and innovation. The Federal Reserve and the other agencies are carefully considering the feedback we received as we consider how we can continue to support responsible innovation.

    We will continue to invest time and resources learning more about innovative technologies such as distributed ledger technology and bank-fintech partnerships to understand how they may benefit the institutions we supervise and their customers. Moreover, interagency coordination and knowledge-sharing with federal and state regulators and the private sector continue to be critical sources of discussion, engagement, and knowledge-building.

    In Closing

    In closing, thank you for this opportunity to outline the Fed’s Novel Activities Program, which I believe has already improved the clarity and consistency of our supervision related to innovative technologies and fostered collaboration as banks and supervisors seek to better understand the risks associated with these activities. I believe this approach will support innovation that benefits consumers while supporting safety and soundness. Thank you.


    MIL OSI Economics –

    March 4, 2025
  • MIL-OSI Economics: Alberto Naudon: Opening remarks – 4th Workshop on Data Science in Central Banking

    Source: Bank for International Settlements

    Good morning, distinguished guests, colleagues, and friends,

    It is my great pleasure to welcome you all to the 4th Workshop on Data Science in Central Banking organized by the BIS Irving Fisher Committee on Central Bank Statistics (IFC) and hosted by the Bank of Italy.

    As we gather today, we are reminded of the rapid advancements in data science and its profound impact on central banking. Indeed, the sheer volume and complexity of financial data now available call for more sophisticated techniques for data management and analysis. This trend is reinforced by the new opportunities opened up by artificial intelligence and machine learning. This workshop is a testimony to our collective commitment to harnessing innovation to enhance central bank’ operations, policy-making, and overall effectiveness.

    As emphasized in the last 2024 IFC’s Annual Report just endorsed by the BIS All Governors a few weeks ago, the current focus on data science and AI supports the broader objective of improving statistical methods and fostering innovation in central banks. This IFC report underscores that leveraging new technologies can be instrumental to enhance data quality, improve analytical capabilities, and support evidence-based policymaking. The Report also calls for reviewing the related ongoing initiatives pursued by central banks and for providing a platform for sharing knowledge and best practices.

    Let me recall that the three previous IFC data science workshops have been dealing with, respectively, (1) machine learning applications; (2) applications and tools in data science; and (3) data access and sharing. This time we will over the next three days delve into the various aspects related to the use of generative AI in central bank activities. We will hear from esteemed experts and practitioners who will share their insights and experiences, providing us with valuable knowledge and practical tools to navigate the evolving landscape of data science.

    I would like first to extend a special welcome to our keynote speaker, Julien Simon, Chief Evangelist at Arcee.ai, who will be discussing the tailoring of small language models for enterprise use cases. His expertise and vision will undoubtedly set the tone for our discussions.

    Then the sessions of the workshop will cover various critical areas, such as natural language processing tools, AI for summarization and information extraction, supervisory technology, text analysis for market monitoring and monetary policy purposes, and data privacy and anonymization.

    Let me share with you a few thoughts on these issues:

    First, the new techniques we will discuss are not only very timely, but they are also essential to leverage data science to address the complex challenges we face in modern central banking. In particular, the integration of generative AI and advanced data analytics into central banks’ operations can significantly enhance their ability to make informed decisions, assess economic trends, and work to promote monetary and financial stability. More generally, IT innovation provides brand new perspectives. For instance, open-source software offer numerous benefits supporting official statistics and data analysis, including cost savings, flexibility, and the ability to customize solutions to meet specific needs. Another example is that modern data management approaches such as data lakes and data meshes architectures allow for new ways to store, organize, and access data. This calls for careful planning and for not blindly following the crowd and fashionable buzz words.
    The main goal is to concretely help central banks to more effectively leverage their information assets, improve the integration and quality of their data, and support more sophisticated analytical techniques.

    Second, your presence here today, coming from various jurisdictions all over the world and representing central banks, other public authorities, international organizations, academia and the private sector, underlines the importance of the goal of this workshop, which is to showcase concrete projects, share experiences, develop in-house knowledge and also reduce reliance on external service providers.

    Third, central banks, as producers of official data, have a key role to play to promote the access and dissemination of credible information to various external stakeholders, including other domestic authorities, international institutions, academia, and the general public. But better data is also key for supporting real-time, evidence-based policymaking in central banks, which increasingly rely on trustworthy data and sophisticated analytical and forecasting capacities to support their decisions.

    Fourth, the relevance of artificial intelligence for central banks cannot be overstated, as it offers immense opportunities to enhance productivity, improve decision-making, and foster innovation. In particular, Generative AI has the potential to revolutionize data analysis and interpretation, offering deeper insights and more accurate predictions. For instance, the use of large language models can significantly enhance our ability to process and understand vast amounts of unstructured data, ranging from economic reports to news articles, thereby enabling us to make more informed policy decisions especially in the areas of monetary policy, financial stability, and regulatory oversight.

    However, and this is my fifth point, GenAI also presents significant challenges and risks. Central banks must navigate issues such as data privacy, security, and ethical considerations. The potential for systemic risks, such as homogenization of information and procyclicality, requires careful management. As central banks increasingly rely on data-driven approaches, it is essential to ensure that sensitive information is protected, and that data is used ethically and responsibly.

    And my last point is that addressing these challenges calls for developing robust governance frameworks. This is key so that we can harness the power of AI while mitigating its risks, ensuring that our financial systems remain stable and resilient. At the same time investing in advanced IT infrastructure and fostering collaboration and coordination as we do today can help to stay abreast of emerging threats and implement best practices.

    To conclude, this workshop aims to gather a diverse audience of practitioners, specialists, and interested stakeholders from central banks, international organizations, national statistical offices, and beyond. Our primary objective is to highlight ongoing projects and exchange experiences that can help foster in-house expertise and lessen reliance on external service providers. For instance, a number of projects that will be presented in the next few days have replicable codes developed with open-source software and can be usefully shared among all interested stakeholders. Moreover, the presentations will enhance our understanding of the opportunities and risks associated with new Generative AI technologies. This is key for central banks willing to navigate the evolving financial landscape and ensure that they are well-positioned to meet future challenges.

    I therefore encourage you all to actively participate in the sessions, engage with the speakers, and share your own experiences and perspectives. It is through this collaborative spirit that we can truly advance our understanding and application of data science in our field. Before closing, I would like to thank the organizers, speakers, and all participants for your dedication and contributions to this workshop. I am confident that our time together will be both enlightening and inspiring, and I look forward to the fruitful discussions and innovative ideas that will emerge.

    Thank you, and welcome once again to the 4th Workshop on Data Science in Central Banking.

    MIL OSI Economics –

    March 4, 2025
  • MIL-OSI: Proposals to the Annual General Meeting of Municipality Finance Plc

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock Exchange Release
    4.3.2025 at 12 noon (EET)

    Proposals to the Annual General Meeting of Municipality Finance Plc

    Municipality Finance Plc’s (hereinafter MuniFin) Board of Directors (the Board) and the Shareholders’ Nomination Committee (the Nomination Committee) have made the following proposals to the Annual General Meeting (the AGM) convening on 25 March 2025 at 10:00 (EET):

    Use of profit shown on the balance sheet and the distribution of dividend

    MuniFin has distributable funds of EUR 373,330,287.47 of which the profit for the financial year totaled EUR 73,737,412.43.

    In accordance with the dividend policy MuniFin’s aim is to pay 30-60% of the Group’s financial year’s profit in dividends. The Board proposes to the AGM that a dividend of EUR 1.86 per share, totaling EUR 72,658,664.28 shall be distributed based on the balance sheet to be adopted for 2024. This corresponds to 54.8% of the Group’s financial year’s profit.

    MuniFin’s profit for the financial year is strong. The Board considers the proposed payment of dividend justified. MuniFin clearly fulfils all the prudential requirements set to it. No substantial changes in the company’s financial position have occurred after the end of the financial year and the Board estimates that the distribution of dividends will not place the fulfilment of the capital requirements or the company’s liquidity in jeopardy nor is it incompatible with the legislation applicable to MuniFin.

    The dividend is paid to a shareholder who is registered in the company’s shareholder register maintained by Euroclear Finland Ltd on the record date of dividend payment on 27 March 2025. The Board proposes that the dividend be paid 3 Aprill 2025 or as soon as possible thereafter.

    Remuneration and composition of the Board

    The Nomination Committee proposes to the AGM the following remuneration of the Board for the term from the closing of the 2025 AGM to the closing of the next AGM (the Term 2025-2026):

    • Annual fixed remuneration of the Chair of the Board EUR 51,000
    • Annual fixed remuneration of the Vice Chair of the Board EUR 33,000;
    • Annual fixed remuneration of the Chair of the Risk or Audit Committee EUR 36,000;
    • Annual Fixed remuneration of Board member EUR 28,000; and
    • For each Board and committee meeting as well as for each meeting required by the authorities, to the members and Vice chair of the Board, a fee of EUR 600 per meeting attended and to the Chairs, EUR 950 per meeting attended

    The proposed remuneration means an increase of EUR 6,000 to the annual fixed remuneration of the Chair of the Board, an increase of EUR 4,000 to the annual fixed remuneration of the Vice Chair of the Board, an increase of EUR 5,000 to the annual fixed remuneration of the Chairs of the Risk and Audit Committees and an increase of EUR 3,000 to the annual fixed remuneration of a Board member.

    The Nomination Committee proposes to the AGM that nine members will be elected to the Board for the Term 2025–2026. The Nomination Committee proposes that the following current members will be re-elected: Ms. Maaria Eriksson, Mr. Kari Laukkanen, Mr. Tuomo Mäkinen, Ms. Elina Stråhlman, Ms. Leena Vainiomäki and Mr. Arto Vuojolainen. In addition, the Nomination Committee proposes that Ms. Liisa Harju, Mr. Juho Malmberg and Mr. Henrik Rainio will be elected to the Board as new members. Mr. Markku Koponen and Mr. Dennis Standell, current members of the Board, will not be available to the Board for the next term.

    Liisa Harjula serves as Senior Ministerial Adviser at the Ownership Steering Department of the Prime Minister’s Office. Harjula has extensive experience in private equity investment, financial management, and investor relations. Juho Malmberg is a professional board member with extensive experience from leadership roles in IT management across the banking sector and other industries. Henrik Rainio serves as the Director of Finance at the City of Porvoo. Rainio has essential expertise in the Finnish municipal sector, which is crucial for MuniFin’s business.

    The Nomination Committee proposes to the Board to be elected by the AGM to reappoint Kari Laukkanen as the Chair and Maaria Eriksson as the Vice Chair.

    Election and remuneration of the auditor

    The Board proposes to the AGM to elect PricewaterhouseCoopers Oy as the company’s auditor for the Term 2025–2026. PricewaterhouseCoopers Oy has announced that if they are elected as the company’s auditor, Jukka Paunonen, APA, will act as the principal auditor. The Board proposes to the AGM that the auditor’s fees be paid according to the invoice approved by the company.

    Sustainability reporting verifier and remuneration

    The Board proposes to the Annual General Meeting that the authorized sustainability audit firm PricewaterhouseCoopers Oy be selected as the company’s sustainability reporting assurer for the term 2025-2026. PricewaterhouseCoopers Oy has informed the company that Tiina Puukkoniemi will act as the responsible sustainability reporting auditor. The Board proposes to the Annual General Meeting that the sustainability reporting assurer’s fees be paid according to the invoice approved by the company.

    The invitation to the AGM, including relevant appendices, is available on MuniFin’s website in Finnish.

    MUNICIPALITY FINANCE PLC

    Further information:

    Esa Kallio
    President and CEO
    tel. +358 50 337 7953

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.

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

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

    Read more: www.munifin.fi

    The MIL Network –

    March 4, 2025
  • MIL-OSI Asia-Pac: Land Registry releases statistics for February

    Source: Hong Kong Government special administrative region

    Land Registry releases statistics for February
    Land Registry releases statistics for February
    **********************************************

         The Land Registry today (March 4) released its statistics for February 2025.Land registration——————-*   The number of sale and purchase agreements for all building units received for registration in February was 4 307 (-12.8 per cent compared with January 2025 but +35.1 per cent compared with February 2024)*   The 12-month moving average for February was 5 803 (1.6 per cent above the 12-month moving average for January 2025 and 26.1 per cent above that for February 2024)*   The total consideration for sale and purchase agreements of building units in February was $28.3 billion (-23.0 per cent compared with January 2025 but +25.3 per cent compared with February 2024)*   Among the sale and purchase agreements, 3 200 were for residential units (-11.7 per cent compared with January 2025 but +34.7 per cent compared with February 2024)*   The total consideration for sale and purchase agreements in respect of residential units was $23.0 billion (-13.9 per cent compared with January 2025 but +20.5 per cent compared with February 2024)     Statistics on sales of residential units do not include sale and purchase agreements relating to sales of units under the Home Ownership Scheme, the Private Sector Participation Scheme, the Tenants Purchase Scheme, etc, unless the premium of the unit concerned has been paid after the sale restriction period.     Figures on sale and purchase agreements received for the past 12 months, the year-on-year rate of change and breakdown figures on residential sales have also been released.     As deeds may not be lodged with the Land Registry until up to 30 days after the transaction, these statistics generally relate to land transactions in the previous month.Land search————-*   The number of searches of land registers made by the public in February was 338 037 (+1.1 per cent compared with January 2025 and +22.1 per cent compared with February 2024)     The statistics cover searches made at the counter, through the self-service terminals and via the Integrated Registration Information System Online Services.

     
    Ends/Tuesday, March 4, 2025Issued at HKT 15:00

    NNNN

    MIL OSI Asia Pacific News –

    March 4, 2025
  • MIL-OSI Asia-Pac: Cleaner Neighbourhoods With Stepped-Up Efforts In The Year Of Public Hygiene

    Source: Asia Pacific Region 2 – Singapore

    Singapore, 4 March 2025 – Public hygiene forms the foundation of our well-being. The Ministry of Sustainability and the Environment (MSE) designated 2024 as the Year of Public Hygiene to strengthen our sense of collective responsibility to one another, and for everyone to play a part in upkeeping good public hygiene practices. Accordingly, the National Environment Agency (NEA) stepped up efforts to improve public health outcomes in five key areas, namely:

    a) Tackling cleanliness hotspots;

    b) Tackling unhygienic public toilets;

    c) Enhancing vector control;

    d) Enhancing industry capability and leveraging technology; and

    e) Rallying the community.

    2            The year-long effort included adopting greater use of technology such as CCTVs to improve our surveillance and enforcement capabilities for littering and rat-related issues, expanding Project Wolbachia to reduce risk of dengue transmission, and adopting technologies to enhance cleaning operations. Enforcement for littering, rat-related lapses and public toilet offences were also intensified. The Public Toilets Taskforce also studied and recommended solutions to bring about cleaner public toilets.

    3            More public hygiene activities were organised, and more residents stepped up to take ownership of their estates’ cleanliness. We will build on this momentum and work with the community to keep Singapore clean for SG60 and beyond.

    Tackling cleanliness hotspots: 36 per cent reduction of litter count at hotspots

    4          While the community is generally civic-minded, littering remains a concern due to the inconsiderate actions of some. In 2024, NEA conducted about 130 enforcement blitzes at littering and smoking hotspots compared to 21 blitzes in 2023. NEA also strengthened its camera surveillance capabilities and scaled capacity to conduct up to 1,000 CCTV deployments a year, compared to 250 in 2023. At hotspots, NEA strengthened enforcement presence to increase deterrence with visible patrols, standees and CCTVs [1] . NEA also partnered community stakeholders to seek their assistance in identifying egregious offenders captured by the CCTV footage.

    5          A 36 per cent reduction in litter count has  been observed at hotspots between May and December 2024 [2]. Four hotspots – Causeway Point, Chinatown Complex, Jurong Point and Vista Point – are on track to exit from the littering hotspot list. A total of about 1,900 fines were issued at hotspots islandwide between May and December 2024. Of these, more than 700 were for littering offences[3]. 30 Corrective Work Sessions were also conducted at these hotspots.

    6            NEA will continue to address the littering situation through public education and enforcement. Residents can complement NEA’s efforts by providing feedback, including information on the identities of egregious offenders.

    Enhancing vector control: Over 1,000 enforcement actions for rat-related lapses in 2024

    7            Reducing the incidence of vector-borne diseases remains a priority. In 2024, NEA focused on upstream rat preventive measures such as promoting and enforcing proper refuse management practices and rectifying structural defects that may allow rats to access food easily.

    8          Over 1,000 enforcement actions were jointly taken by NEA and the Singapore Food Agency (SFA) against errant premises owners or occupiers, including operators of trade premises, shopping malls, and food establishments. This is almost double the 670 enforcement actions taken in 2023. Nearly half of the enforcements last year were for poor refuse management [4].

    9          NEA also successfully trialled the use of thermal cameras for rat surveillance. This complements technological solutions such as passive infrared cameras and borescopes to enhance the monitoring and management of rat activities in Singapore’s urban environment. NEA will continue to work closely with stakeholders to keep the rat situation under control. [5]

    Enhancing vector control: Project Wolbachia to benefit 800,000 households by 2026

    10          On dengue, community vigilance and innovations like Project Wolbachia have helped us to avoid major surges in dengue cases in 2023 and 2024. The Aedes aegypti population at Project Wolbachia study sites has reduced by 80 to 90 per cent, and the risk of acquiring dengue has lowered by 75 per cent.

    11        To reduce the risk of a major dengue outbreak further, NEA will expand Project Wolbachia to benefit more residents. By 2026, the project will reach 800,000 households, or about 50 per cent of all households. NEA expanded Project Wolbachia to Jurong East in February 2025, and Jurong West will soon see releases of Wolbachia-Aedes mosquitoes from April 2025. This year, NEA will trial the use of Wolbachia-Aedes mosquitoes at dengue clusters to supplement traditional control operations [6].

    12        The production of Wolbachia-Aedes mosquitoes is currently met by two separate facilities managed by NEA, and Debug by Google [7]. Besides increasing production capacity at existing facilities, we will work with the industry to develop a third facility to supplement the overall capacity.

    Enhancing industry capability and leveraging technology: Adoption of technology to enhance cleaning operations

    13          NEA is adopting more technology to enhance cleaning operations. For example, NEA is working with service providers to trial and progressively deploy drain sensors, which can send alerts when the drains are filled with leaves, or when the water level is high [8]. Beyond drain sensors, NEA will also deploy four autonomous waterway cleaning machines across Singapore.

    14          NEA has also collaborated with the National Parks Board (NParks) to trial the use of artificial intelligence that can help improve operational efficiency, such as by detecting overflowing litter bins and littered public areas. In addition, NEA will commence trials in 2025 on the deployment of autonomous pavement sweepers in selected parks. 

    Enhancing industry capability and leveraging technology: $90 million boost for Environmental Services Industry

    15         In terms of enhancing industry capability and the use of technology, a $90 million boost for the Environmental Services Industry has been made available – the Environmental Services Productivity Solutions Grant. The grant application period is open till 31 March 2027 [9].

    Tackling unhygienic public toilets: About 1,300 enforcement actions taken for public toilet offences

    16        The Public Toilets Taskforce was formed last year to study and recommend solutions to make our public toilets cleaner [10]. In 2024, NEA and SFA stepped up inspections on public toilet cleanliness. Close to 19,000 inspections were carried out, with about 1,300 enforcement actions taken against premises owners/managers. We will continue to work with our partners and support ground-up efforts to achieve our goal of cleaner public toilets.

    Rallying the community: More residents stepped up to take ownership of their estate cleanliness

    17        Community ownership is vital to keeping public spaces clean. Under the Community Auditor Programme, residents at private residential estates are recruited to conduct audits on the performance of our cleaning service providers. The pool of resident volunteers has increased from 20 in 2020 to 169 in 2024, covering 99 private estates [11].

    18        NEA is also on track to roll out the Alternate Roadside Parking Programme to 45 private estates by 2026, with 33 private estates on board so far. The programme, which facilitates the deployment of mechanical road sweepers, has resulted in 50 to 80 per cent of time savings compared to manual cleaning with brooms and trash bags [12].

    Rallying the community: Over 1,750 community activities with 127,000 participants in the Year of Public Hygiene 

    19        Over 1,750 community activities involving 127,000 participants were conducted last year by NEA and the Public Hygiene Council. NEA expanded community activities with various corporate parties, NGOs and volunteer partners to inculcate a greater sense of common ownership of public spaces [13].

    20          NEA further rolled out a series of “Behind-The-Scenes” learning journeys as part of Go Green SG and the Clean & Green Singapore Experiences programme, offering the public a closer look at the work of NEA officers conducting ground operations in littering enforcement, refuse management for effective vector control, and public cleaning performance audits. NEA will continue to partner our stakeholders and the community to keep Singapore clean.

    —————————–

    [1] CCTVs were strategically deployed at 13 hotspots that required sustained monitoring for extended periods of up to six months. This approach allowed NEA to gather data and detect offences.

    [2] The total litter count at the hotspots was about 950 and 600 in May and December 2024, respectively.

    [3] Other offences included smoking, urinating and defecation.

    [4] In 2023, about 670 enforcement actions were taken against premises owners/occupiers for rat-related lapses, of which 80 were for poor refuse management practices.

    [5] Visit link for more details on the thermal camera trial for rat surveillance and tightened enforcement from 1 Apr 2025. 

    [6] Visit link for more details on the expansion of Project Wolbachia.

    [7] Verily’s contract with NEA was novated from Verily Life Sciences to Google Asia Pacific Pte Ltd w.e.f. 13 Dec 2024. Debug is the business function in both Verily and Google that fulfil the contract obligations to NEA.

    [8] 20 units of the latest version with improved functions such as in-built camera for enhanced situational awareness have been deployed for operational testing as of 9 Jan 2025.

    [9] Details on Environmental Services Productivity Solutions Grant are available in Annex A and here.

    [10] Refer to MSE’s media release for more details.

    [11] The Community Auditor management programme commenced in September 2020, as NEA recognised the effectiveness of residents who are willing to step forward as ‘local cleanliness auditors’ of their estates.

    [12] Details on Alternate Roadside Parking Programme are available in Annex B.

    [13] Details on Rallying the Community are available in Annex C.

    ~~ End ~~

     

    For more information, please submit your enquiries electronically via the Online Feedback Form or myENV mobile application.

    MIL OSI Asia Pacific News –

    March 4, 2025
  • MIL-OSI Economics: Huawei Unveils the AI WAN Solution, Accelerating Transition to the Net5.5G Intelligent Network Era

    Source: Huawei

    Headline: Huawei Unveils the AI WAN Solution, Accelerating Transition to the Net5.5G Intelligent Network Era

    [Barcelona, Spain, March 3, 2025] At MWC Barcelona 2025, Leon Wang, President of Huawei’s Data Communication Product Line, officially unveiled the AI WAN Solution during the product and solution launch event. He noted that carriers are accelerating the convergence of networks and AI. AI WAN comprehensively empowers IP networks in the Net5.5G era using AI. The solution enables carriers to build networks with optimal TCO, expand service boundaries, improve operations efficiency, and stimulate new service growth.
    Leon Wang, President of Huawei’s Data Communication Product Line, unveiling the AI WAN Solution

    Three-Layer AI WAN Architecture: Enabling New Network Intelligence Capabilities
    The AI WAN Solution features a three-layer architecture consisting of AI routers, AI new connections, and AI new brain, comprehensively enhancing network performance and intelligence. AI routers integrate millisecond-level flow reporting, high-accuracy flow identification, and efficient security protection engines, building an AI WAN foundation for intelligent capabilities. AI new connections enable flow-level scheduling to meet the diverse network requirements of various applications, allowing carriers to offer a wider array of value-added services. By harnessing Network Digital Map and Network Foundation Model, the AI new brain creates network AI agents to assist carriers in online change simulation, fault diagnosis, and fault handling, ultimately improving O&M efficiency.
    AI WAN Inspires New Growth of Traditional Services and Opens Up New Market Space
    Accelerated ROI for individual services: To address the challenges of base station traffic management for carriers, AI WAN utilizes predictive operations to efficiently identify sites with suppressed traffic, enabling carriers to make targeted investments. MTN South Africa operates over 7,000 base stations, and 10% of them experienced severe link congestion, compromising traffic experiences of users. By leveraging AI WAN’s millisecond-level traffic collection and minute-level prediction capabilities, MTN has secured an efficient capacity expansion solution. Following deployment, the dataflow of usage (DOU) in Johannesburg rose by 25%, while traffic grew by 15.4%.
    Experience monetization–driven new revenue for home services: By harnessing AI-powered inference technology, AI WAN enables accurate identification of encrypted flows, unlocking new opportunities for carriers through monetization of differentiated experiences. Carrier CTM partnered with Huawei to optimize network services using an AI computing engine. This resulted in a dramatic reduction in game latency, a significant decrease in user churn rate, and an estimated 28% increase in average revenue per user (ARPU). In addition, another carrier cooperated with Huawei to conduct experience-centric operations based on AI-powered poor-QoE analysis, providing deterministic cloud-network services. This innovative solution not only significantly enhanced user experience but also attracted a substantial number of new cloud broadband package subscribers. Consequently, the ARPU is expected to see a substantial increase.
    New service offerings with security protection and computing-network integration for enterprise services: AI WAN offers value-added intelligent flash defense services that can accurately identify attack flows, enabling carriers to provide efficient security protection services for enterprise users. The revenue is expected to increase by 35%. In addition, AI WAN provides elastic and lossless transmission capabilities, helping carriers expand new ToB integrated computing-network services. Huawei and China Telecom Shanghai have collaborated to innovate the AI WAN Solution for computing WAN scenarios, creating an end-to-end 400GE computing WAN plane. Key technologies, such as lossless WAN, were employed to enable efficient transmission of computing power services. Ultimately, computing power leasing and computing network services were provided to industry customers.
    Wang emphasized that Huawei will remain at the forefront of network intelligence innovation, developing industry-leading products and solutions. It will work closely with partners to build AI WAN, accelerate carriers’ service growth, and jointly move toward the Net5.5G intelligent network era.
    MWC Barcelona 2025 is held from March 3 to March 6 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1.
    In 2025, commercial 5G-Advanced deployment will accelerate, and AI will help carriers reshape business, infrastructure, and O&M. Huawei is actively working with carriers and partners around the world to accelerate the transition towards an intelligent world.
    For more information, please visit: https://carrier.huawei.com/en/events/mwc2025

    MIL OSI Economics –

    March 4, 2025
  • MIL-OSI Economics: MWC Barcelona 2025: Huawei Unveils Global Showcases Alongside Customers and Launches 10 Industry Solutions with Partners

    Source: Huawei

    Headline: MWC Barcelona 2025: Huawei Unveils Global Showcases Alongside Customers and Launches 10 Industry Solutions with Partners

    [Barcelona, Spain, March 3, 2025] During MWC Barcelona 2025, Huawei held the Industrial Digital and Intelligent Transformation Summit 2025, bringing together global customers and partners to explore innovative industrial digital and intelligent transformation practices. Together with its industry customers, Huawei unveiled 83 global showcases for industrial digital & intelligent transformation for 71 key scenarios. In addition, Huawei and its partners jointly launched 10 major solutions to accelerate intelligent transformation across various industries such as public sectors, education, finance, electric power, transportation, oil and gas, chemicals, and retail.
    Huawei proposed four key pathways to accelerate industrial intelligence
    Huawei believes that global industries are rapidly advancing towards intelligence and are poised to be among the greatest beneficiaries of the AI era. In his keynote speech, Leo Chen, Huawei’s Corporate Senior Vice President and the President of Enterprise Sales, highlighted the four key pathways that are essential to accelerating intelligent transformation across industries. He stated, “Firstly, we must deeply integrate technologies into industry scenarios and build a target ICT architecture for industrial intelligent transformation based on industry requirements, pain points, and development stages. Secondly, we need to build advanced, AI-oriented ICT infrastructure to support the exponential growth of AI workloads. Thirdly, we must develop high-performance AI products that seamlessly integrate with open-source models, enhance AI development toolchains, and collaborate with industry partners, enabling AI to shift from technical showmanship to broad, inclusive accessibility, accelerating transformation in industries like healthcare and education. And fourthly, we must train ICT talent in a more targeted manner.”
    Leo Chen, Corporate Senior Vice President, President of Enterprise Sales, Huawei

    The Lighthouse that guides industries forward: Huawei launched 83 global showcases and 10 major solutions for industrial intelligence
    Huawei takes action to demonstrate its commitment to offering customers first-hand experience. In collaboration with global customers across various industries, Huawei unveiled 83 global showcases, spanning 71 key scenarios of industrial digital and intelligent transformation. These showcases are open to customers worldwide, providing a valuable reference for their transformation journey.
    Moreover, Huawei continuously deepens its collaboration with partners across industries and jointly innovates with them. At the summit, Huawei launched 10 major solutions jointly developed with its partners to expedite industrial intelligence: the Inclusive Connectivity – Digital Village Solution, Public Services Digitalization Solution, Digital Training Solution, Financial Data Center Resilience Solution, Intelligent Distribution Solution 2.0, Smart Railway Yard & Station Solution, Intelligent Multi-level Port Operation Management Solution, Intelligent Central Processing Facilities Solution, Intelligent Chemical Solution, and Smart Retail Solution 2.0.
    To better empowering inclusive AI adoption in every industry, Huawei launched AI inference appliances which support over 50 mainstream large models. By deploying these AI appliances, industry customers can access and deploy AI applications more easily and advance towards a more intelligent future.
    To cultivate ICT talents who integrate industry scenarios and technologies, Huawei also launched the Industry Elites in the ICT Classroom Program for enterprise customers; and the Leading ICT Talent Cultivation Program for universities.
    In collaboration with global customers across various industries, Huawei unveiled 83 global showcasesi

    Global customers and partners share innovative practices
    Ciyong Zou, Deputy to the Director General and the Managing Director of the Directorate of Technical Cooperation and Sustainable Industrial Development, UNIDO, delivered the opening remarks at the event, stating that “UNIDO-Huawei collaboration is a testament to the power of multi-stakeholder cooperation. Huawei has been instrumental in the AIM Global, playing a key role in accelerating the sustainable adoption of cutting-edge technologies. These partnerships reinforce our shared belief that technology must serve humanity—not the other way around. As we look ahead, three principles must guide us: equity, sustainability, and collaboration. Equity ensures that digital transformation benefits all, sustainability ensures that technology contributes to a greener future, and collaboration ensures that no country, industry, or entrepreneur is left behind.”
    Mahmoud Bin Ahmed, CCO, Integrated Dawiyat, pointed out that “As a subsidiary of the SEC, Dawiyat is a fully integrated digital infrastructure provider, we take fibers as strategic assets to support SEC for highly reliable digital power services and Saudi Arabia 10Gbps society strategy. One fiber for multi services can empower more than power, we commit to provide smart grid communication with premium user experience and leverage our world-leading neutral infrastructure for digital economy growth in Saudi Arabia.”
    Gil Brasileiro Fernandes, ICT Services Manager, Petrobras, pointed out that “For Petrobras, digital innovation is not just a choice, but the path to a more efficient, safer, and sustainable future. Petrobras believes that we can only achieve digitalization by investing in robust and scalable infrastructure to support digital operations; prioritizing solutions that enhance efficiency and safety in operations; using intelligent devices to promote mobility and collaboration and transforming connectivity into a competitive advantage.”
    Miguel López-Valverde, Minister for Digitalization of the Community of Madrid, Spain, said that: “To address the digital transformation process, Comunidad de Madrid, through the Digitalization Strategy 2023-2026, has reformulated its vision, mission and values, with a clear orientation towards citizens and businesses, making them the true protagonists. Comunidad de Madrid will be the leading digitalization region in Europe.”
    Guillaume Portier, EVP, VusionGroup, said: ” At VusionGroup, we aim to help build a more sustainable future by digitizing physical stores, as they play a pivotal role in this respect. By partnering with Huawei, we design innovations that serve this purpose, driving a greater impact for business and society. ”
    Pioneering the in-depth integration of digital and intelligent technologies and industry scenarios
    Huawei Enterprise Business Booth at MWC Barcelona 2025 with the theme of Accelerating Industrial Intelligence

    The 1200 m2 Huawei Enterprise Business exhibition area features three themes: Accelerating Industrial Intelligence, Innovative ICT Infrastructure, and Partner Collaboration for Mutual Success. The exhibition highlights the deep integration of digital and intelligent technologies with industries, and the joint innovations and practices by Huawei, as well as its global partners and customers.
    The Accelerating Industrial Intelligence area showcased Huawei’s cutting-edge scenario-based solutions and the latest practices of industries, such as public utilities, government, education, healthcare, finance, transportation, electric power, oil and gas, mining, ISP and Internet, manufacturing, and retail.
    The Innovative ICT Infrastructure area fully demonstrated the Intelligent Campus and Intelligent Data Center scenarios, which presented Huawei’s latest products and portfolios in fields like data communication, all-optical network, data storage, and Huawei Cloud. Through continuous technological innovation, Huawei has enabled enterprise customers to build their intelligent, efficient, and reliable ICT infrastructure.
    The Partner Collaboration for Mutual Success area presented Huawei’s latest partner policies for the commercial market and distribution business, as well as partner toolkits, marketable and star solutions, and more through various interactive demos that are easy to install and maintain.
    Additionally, Huawei held a special event for its partners in the commercial market and distribution business, showcasing solutions for common scenarios, AI appliances, tools and digital platforms that support easy maintenance and service delivery, as well as a simulated HUAWEI eKit store. This allowed commercial partners and engineers an exclusive and immersive experience through interactive and in-depth exchanges.
    MWC Barcelona 2025 is held at Fira Gran Via in Barcelona, Spain from March 3 to March 6. During the event, Huawei Enterprise Business exhibits under the theme of Accelerating Industrial Intelligence, with its booth at Stand 1H50 in Hall 1. We cordially invite you to visit the Huawei Enterprise Business booth to experience and join us on our journey to “Accelerate Industrial Intelligence.” For more details, please visit: https://e.huawei.com/eu/events/branding/mwc.

    MIL OSI Economics –

    March 4, 2025
  • MIL-OSI Russia: The Winter in Moscow project allowed businesses to make a name for themselves and increase sales

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The capital’s business actively supported the large-scale city project “Winter in Moscow”. Thus, it not only became a major holiday, but also offered wide opportunities and support measures for entrepreneurs. For example, the magic market of the “Made in Moscow” project united more than 500 manufacturers and placed its sites on seven tourist streets of the capital, including Arbat, Novy Arbat, Kuznetsky Most, Rozhdestvenka, as well as Tverskoy Boulevard, Stoleshnikov Lane and Bolotnaya Square. Each pavilion became a real art object – red and white knitted balls, a mini-station, a box of toys, a box of chocolates, a huge gift. In them, one could buy clothes, accessories, cosmetics, children’s toys, household goods, food products and much more.

    One of the most attractive for guests was the flagship pavilion on Bolotnaya Square, where master classes, fashion shows and ice shows were held, and a magic train also ran. During its operation, the magic market was visited by 570 thousand people, and Moscow brands sold over 50 thousand products. 10 percent of the proceeds from the market participants were sent to the charity fund “People’s Front. Everything for Victory!”

    As part of the “Come on in!” project, more than 700 organizations from various fields, such as public catering, the beauty industry, trade and education, made over 900 offers to city residents and tourists: from discounts and bonuses to free master classes, gastronomic tastings, performances and sports activities. More than six thousand people took advantage of them.

    Businessmen helped create a festive mood in Moscow by decorating the facades, shop windows and entrances of their organizations. This was facilitated by three special support measures that were launched in the capital this season. More than 5.3 thousand entrepreneurs applied for them. For example, with the help of a grant for decoration of the first 100 entrepreneurs, business owners were able to compensate for part of the costs of decorating their sites.

    In addition, a competition for the best festive decoration was held. The total prize fund was 700 million rubles. And creative teams, designers and all interested persons over the age of 18 were able to demonstrate their talents in a competition for the best project of festive and thematic decoration of a non-residential property.

    From December 26 to 29, the Central Exhibition Hall “Manezh” hosted the II Moscow Beauty Week — one of the largest events of the project. Over four days, it was visited by more than 60 thousand people, and 600 Russian companies presented their products, of which 384 were from Moscow. One of the most popular objects of the exhibition was the “Made in Moscow” stand, designed as an advent calendar.

    Residents of the capital actively formed the poster of the project “Winter in Moscow”. In total, 529 applications for holding events were received from individuals and business representatives. Most often, these were master classes (63 percent), concerts and show programs (15 percent), lectures and seminars (14 percent), and excursions (eight percent). Every fifth event took place in the Central Administrative District, and 80 percent were held in other districts.

    The Winter in Moscow project not only allowed businesses to make a name for themselves and increase sales, but also became a real winter holiday. In total, the events attracted almost 30 million residents and guests of the city.

    The Winter in Moscow project became the main event of the season, which united various events of the capital. City residents and tourists remembered traditions and history, warmed themselves with tea and hot buns, skated, watched ice shows, gave gifts to people who found themselves in a difficult life situation, and also showed care for those who needed it.

    Muscovites and guests of the capital had a huge choice of entertainment in the open air and in cultural and sports institutions. The atmosphere of winter traditions engulfed the entire city: more than 1.9 thousand sites were open. The project organically wove in the capital’s largest festivals “Moscow Estates”, “Moscow Tea Party”, “City of Light” and many others.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/150899073/

    MIL OSI Russia News –

    March 4, 2025
  • MIL-OSI Economics: Trump’s policies to hinder economic growth prospects of Mexico, foresees GlobalData

    Source: GlobalData

    Mexico is grappling with rising risks stemming from strained relations with the US during President Donald Trump’s second term. Trump’s “America First” policies, including a proposed 25% tariff on Mexican goods, pose a significant threat to Mexico’s export sector and could disrupt North American supply chains. Weak domestic demand is also expected to further hinder Mexico’s economic growth. Against this backdrop, Mexico’s GDP growth is forecast to slow to 1.1% in 2025, down from 1.5% in 2024 and 3.2% in 2023, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “Macroeconomic Outlook Report: Mexico”, reveals that domestic demand in Mexico is expected to remain subdued due to a rising unemployment rate. Real household consumption expenditure growth is projected to decline to 1.8% in 2025, down from 2.0% in 2024 and 4.3% in 2023. Meanwhile, the unemployment rate is forecast to increase to 3% in 2025, compared to 2.7% in 2024 and 2.8% in 2023.

    Mexico’s central bank, Banco de México, reduced the key policy rate six times since March 2024. The most recent cut occurred in February 2025, when the Governing Board lowered the overnight interbank interest rate by 50 basis points to 9.5%, driven by easing inflationary pressures. Inflation in January 2025 dropped to a four-year low of 3.6%.

    Gayatri Ganpule, Economic Research Analyst at GlobalData, comments: “Mexico’s economic growth in 2025 is likely to encounter significant challenges, including uncertainty under a new US presidency and evolving global geopolitical dynamics. The US policy shifts, such as tariffs and immigration reforms, are expected to adversely impact trade and remittances. Investor sentiment may be further weakened by controversial judicial reforms, while Pemex’s financial struggles under revised energy policies could add to the economic strain. Additionally, rising public debt poses a risk of losing the nation’s investment-grade rating. As such, strategic actions will be essential to ensure stability.”

    In terms of sectors, mining, manufacturing, and utility activities contributed 26.2% to Mexico’s gross value added (GVA) in 2024, followed by wholesale, retail, and hotels business activities (23.9%), and financial intermediation, real estate, and business activities (16.2%). In nominal terms, the three sectors are forecast to grow by 6.5%, 7.6%, and 7.4%, respectively, in 2025, compared to an estimated 6.8%, 8%, and 7.8% growth in 2024.

    Ganpule adds: “The external sector is expected to face challenges as proposed tariff measures could sharply increase costs, disrupt the automotive and agriculture industries, and threaten millions of jobs across North America. Additionally, potential retaliatory actions from Mexico, as warned by President Claudia Sheinbaum, could further strain trade relations.”

    According to GlobalData analysis using data from ITC Trade Map, vehicles and auto parts accounted for 27.6% of Mexico’s total exports to the US in 2023, followed by 19.5% for electrical machinery and 17.4% for nuclear reactors, boilers, and mechanical appliances. Trump’s proposed tariff could severely impact these sectors, disrupting trade and supply chains.

    Ganpule continues: “The automotive industry, Mexico’s largest exporter, faces significant risks. Major automakers like Ford, Volkswagen, Toyota, Honda, General Motors, and Stellantis operate large manufacturing plants in Mexico, and tariffs could threaten exports, production, and investment stability.”

    Beyond autos, Mexico’s state-owned oil company, Pemex, relies heavily on the US for its sales and could see revenue declines. In consumer goods, companies like Controladora Mabe (home appliances) and Becle (tequila producer) are particularly vulnerable, with a hefty share of their revenues coming from US sales. The agribusiness sector could also feel the impact, affecting firms such as Grupo Bimbo, Sigma Alimentos, Gruma, and Arca Continental, though their US operations may provide some buffer.

    Mexico’s 2025 budget prioritizes fiscal discipline, aiming to reduce the budget deficit to 3.9% of GDP from 5.9% in 2024. The government plans significant spending cuts across sectors like defense, security, and the environment while focusing on achieving a primary budget surplus to ensure fiscal sustainability alongside economic growth and social development.

    Mexico ranked 82nd out of 153 nations in the GCRI Q4 2024 update, with an overall risk score of 57.8, placing it in the medium-risk category (scores between 40 and 60). This indicates a higher risk than the North American average of 43.8 and the global average of 55.0.

    Ganpule concludes: “Mexico’s economic trajectory depends on proactive fiscal policies, investment climate improvements, and strategic international negotiations. Strengthening trade alliances with other global partners and fostering domestic innovation will be crucial in mitigating external risks and ensuring long-term growth.”

    MIL OSI Economics –

    March 4, 2025
  • MIL-OSI Russia: From Childhood to Career: How the Educational Verticals Project Helps Schoolchildren Decide on a Profession

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    There are kids in Moscow who have been conducting scientific research, creating smart technology and speaking at conferences since they were 13. They go to regular schools, but study from the seventh to the ninth grade under a special program of the city project “Educational verticals”It has been implemented since 2018 and helps to choose the direction of future activities in advance, to enter a specialized or pre-professional class.

    The project has already been joined more than 87 thousand children from 465 schoolsThere are currently three verticals in the capital: mathematics, information technology (IT), and natural sciences.

    About enrollment in the project and how it helps find your life’s work – in the mos.ru article.

    “Mathematical vertical”: for any profession

    The first in the project was “Mathematical vertical”: schools began implementing it in 2018. In 2025, more than 51 thousand children in 460 educational institutions are studying under this program.

    “The mathematical direction, perhaps the most popular, opens up the broadest prospects for teenagers. After the ninth grade, they can go to almost any pre-professional classes: engineering, IT, entrepreneurship. Knowledge of practical mathematics is necessary for athletes, art historians, and musicians,” says the curator of the “Mathematical Vertical” School No. 1502 “Energy” Galina Bezrukova.

    The main condition for admission to the vertical is to study well. At the end of the sixth grade, children undergo testing (diagnostics) by the Moscow Center for Education Quality (MCEQ) in mathematics and functional literacy – the ability to navigate a large amount of information, deeply analyze text and apply mathematical knowledge in practice. For example, one of the tasks may be: “Determine which theater has cheaper tickets and how to get there faster.” Annual diagnostics are mandatory for all schoolchildren, but to become a vertical student, sixth-graders need to pass all tests with a good or excellent grade.

    Even before the MCCO, teachers pre-select those who will be suitable for the vertical program. They pay attention to children who not only study well, but also attend math or IT clubs and participate in Olympiads from elementary school. Parents of these children are advised to think about enrolling in the project. In the first year of the vertical, the student finally decides whether he has chosen the right direction Natalya Vorobyeva, curator of the Mathematical Vertical and IT Vertical projects at the Institute for the Development of Profile Education at the Moscow City Pedagogical University (MCPU)

    Schools that have educational verticals form one or more classes for project participants. Those who chose the “Mathematical Vertical” have four to five hours of algebra, two to three hours of geometry, one to two hours of probability and statistics, and two hours of additional classes after school.

    The teaching aids used in the project are distinguished not only by their scientific nature, that is, respect for the subject, but also by their accessibility, that is, respect for the student. Complex things are explained in the simplest possible way. Each section contains practical, life-related tasks. Therefore, learning is exciting, and when a child is interested, he does not notice the increased workload Galina Bezrukova, curator of the “Mathematical Vertical” of school No. 1502 “Energy”

    Nine universities participate in the “Mathematical Vertical”. Among others are the Lomonosov Moscow State University, the National Research University Higher School of Economics, and the Bauman Moscow State Technical University. University teachers conduct master classes for children, teach them how to write project papers, and suggest research topics.

    “IT-vertical”: for those who want to become a programmer and inventor

    “IT-vertical” has existed since 2022. 194 schools and about 12 thousand teenagers participate in this project.

    Those who entered the IT-vertical class at our school study eight hours of mathematics and two hours a week of computer science, programming, and technology. In technology classes, children study modeling and prototyping, and from the eighth grade, electronics and microprocessor technology are added. In addition, project participants are required to attend at least two clubs, for example, robotics, project activities, or the basics of creating devices for a smart home Roman Koltunov, curator of the IT-vertical, school No. 444

    The project is cooperating with 12 Moscow universities, including the National University of Science and Technology “MISIS”, MIREA – Russian Technological University, I.M. Sechenov First Moscow State Medical University, and N.I. Pirogov Russian National Research Medical University. Teachers from these educational institutions guide the students and suggest ideas for development.

    “Two ninth-grade students from School No. 444, Kamila Sabirova and Taisiya Yablonovskaya, for example, created a device for brewing tea: boiling water is poured into a glass, a robotic hand dips a tea bag into it, and a person, meanwhile, sets the parameters for the strength of the drink in the program,” a mos.ru source shared.

    And ninth-graders from the same school, Nikolai Valchuk and Daniil Devyaterikov, invented a home flight simulator for future pilots. The engine control levers, made similar to those used in airplane cockpits, are connected to a computer, and a novice specialist can train without leaving his room.

    “Since early childhood, I have loved programming and assembling things with my own hands, and I am interested in the aviation industry. My dream is to make an ion engine that can be used in space satellites. It works from a cylinder with inert gas, and is wear-resistant. In the near future, I hope to complete this development and test it on a small boat,” explains Nikolai Valchuk, a ninth-grader at School No. 444.

    “Natural Science Vertical”: Future Doctors and Ecologists

    “Natural Science Vertical” appeared in schools in 2022. More than 17 thousand students in 253 schools study under this program. The knowledge will be useful in medicine, pharmaceuticals, psychology, energy industry, genetics, ecology. The project partners are 10 universities, in particular the First Moscow State Medical University named after I.M. Sechenov, the Russian National Research Medical University named after N.I. Pirogov, Peoples’ Friendship University of Russia, Moscow State Pedagogical Univ.

    In the natural science vertical classes, schoolchildren have more hours of physics, chemistry and biology than in a regular class. Moreover, chemistry starts not in the eighth grade, but in the seventh. In addition, teenagers have additional courses in natural science, which are allocated at least an hour a week. The guys devote the same amount of time to project-research activities. Since the age of 13, they have been speaking at city scientific and practical conferences Elena Semyashova, curator of the Natural Science Vertical project at the Institute for the Development of Specialized Education at Moscow State Pedagogical University

    So, inschool #2070 named after Hero of the Soviet Union G.A. Vartanyan Children in the seventh grade stay after school for classes on plant and animal physiology, and in the ninth grade – on inorganic synthesis.

    This year, the project participants prepared 28 scientific papers on human anatomy and physiology. For example, they found out that in-ear headphones contribute to the development of ear infections. It turned out that almost none of the respondents treat the device with an antiseptic. Based on the results of the testing, the children wrote a memo on the use of headphones and placed it in the hallway Olesya Lukinskaya, curator of the Natural Science Vertical at School No. 2070

    One of the students in the Natural Science Vertical class at this school, eighth-grader Victoria Fedyanova, conducted a study: she interviewed 50 teenagers, then measured their blood pressure before classes and during tests. It turned out that those who sleep less than seven hours and often experience stress are prone to a 20 percent increase in blood pressure. “I’m thinking of studying to become a doctor, perhaps an endocrinologist. I’m sure that the knowledge I gained through the vertical program will help me enter a university,” Victoria sums up.

    The MES library was used almost 60 million times in a yearPhysics and computer science are among the most popular subjects for schoolchildren to take the Unified State ExamTouch the world of science. How academic classes in Moscow schools prepare future scientistsIndustry and IT sector: the most sought-after sectors for employment in Moscow have been named

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/150878073/

    MIL OSI Russia News –

    March 4, 2025
  • MIL-OSI Asia-Pac: Committee of Supply 2025

    Source: Asia Pacific Region 2 – Singapore

    Filter by

    Committee of Supply 2025

    04 Mar 2025

    Our Sustainability, Our Resilience, Our Everyday

    Expansion of enhanced Climate Friendly Household Programme

    To encourage more households to take climate action, NEA and PUB will further enhance the Climate Friendly Households Programme.

    From 15 Apr 2025, eligible HDB households will receive an additional $100 in Climate Vouchers, on top of the existing $300 offered in 2024. The programme will also be expanded to include Singapore Citizen households living in private residential properties. This means that eligible HDB and private households can claim a total of $400 worth of Climate Vouchers, which are valid until 31 Dec 2027.

    By switching to more resource efficient appliances and fittings, households can reduce their energy and/or water consumption, lower their utility bills, and help to tackle climate change. 

    More info: [Media Release] [Facebook] [LinkedIn]

    $25 million Weather Science Research Programme to enhance Singapore’s weather prediction capabilities

    A new Weather Science Research Programme (WSRP) has been launched to enhance Singapore’s ability to understand and predict our tropical urban weather, including extreme weather arising from climate change.

    The new programme aims to build weather science capability in the national research ecosystem. The Centre for Climate Research Singapore will collaborate with local research institutions to incorporate the latest scientific and technological developments such as Artificial Intelligence. A key initiative under the WSRP is to create a detailed historical weather re-analysis over recent decades for Southeast Asia – the first of its kind in the region.

    Funded under the Research, Innovation and Enterprise 2025 Plan, the WSRP is now open for research proposals from local research institutions.

    More info: [Media Release] [Facebook] [LinkedIn]

    New guidelines to reduce e-commerce packaging

    The Alliance for Action on Packaging Waste Reduction for the E-commerce Sector has published a set of Guidelines on Sustainable E-commerce Packaging.

    Apart from a list of 3R solutions tailored to various types of e-commerce packaging, the Guidelines also provide operating models for e-commerce marketplaces to promote sustainable packaging to consumers, and drive awareness and responsibilities among suppliers.

    Also included in the Guidelines is a scorecard that company leaders can use to assess the maturity of their management practices in relation to sustainable packaging, and pinpoint areas for improvement.

    More info: [Media Release] [Facebook] [ LinkedIn]

    Up to $1 billion to upgrade hawker centres and build 5 new hawker centres

    Over the next 20 to 30 years, MSE and NEA will invest up to $1 billion to upgrade existing hawker centres and build another 5 new hawker centres.

    Through the Hawker Centre Upgrading Programme 2.0, hawker centre infrastructure will be upgraded to be more vibrant, accessible, with climate-resilient community spaces. Hawkers can also look forward to a more conducive work environment.

    To better serve residents, 5 additional new hawker centres will be built. 2 new hawker centres will also open at Bukit Batok West and Punggol Coast.

    To celebrate SG60 and the 5th anniversary of the inscription of Singapore’s Hawker Culture on the UNESCO Representative List of Intangible Cultural Heritage of Humanity, cooked food and market stallholders across all hawker centres and markets managed by the Government or Government-appointed operators will receive a one-off rental support of $600 per stall.

    More info: [Media Release]


    ~~ End ~~

    MIL OSI Asia Pacific News –

    March 4, 2025
  • MIL-OSI Asia-Pac: Up To $1 Billion To Upgrade Hawker Centres And Build Five New Hawker Centres

    Source: Asia Pacific Region 2 – Singapore

    Singapore, 4 March 2025 – The Ministry of Sustainability and the Environment (MSE) and the National Environment Agency (NEA) will invest up to $1 billion over the next 20 to 30 years to upgrade existing hawker centres under the Hawker Centres Upgrading Programme 2.0 (HUP 2.0) and build another five new hawker centres.

    Ongoing Efforts to Upgrade Hawker Centres

    2            The Government first built hawker centres in the 1960s to resettle street hawkers. Over the decades, the Government has invested in infrastructural upgrades to ensure that our hawker centres continue to be community dining rooms where Singaporeans can easily access and enjoy affordable food in a clean and hygienic environment.

    3            Repairs and Redecoration (R&R) works are regularly carried out by NEA and the Town Councils at each hawker centre every six to eight years, to upkeep and maintain the existing infrastructure. These works typically include repainting, basic repairs and replacement of fixtures and fittings in the centres.  In 2021, learning from the COVID-19 pandemic, the Hawker Centres Transformation Programme (HTP) was piloted at Cheng San Market & Cooked Food Centre and Geylang Serai Market. The HTP aimed to address infrastructural issues beyond the typical R&R works and increase hygiene levels, such as through better seating configuration and fans to enhance ventilation, and toilet refurbishments for greater ease of cleaning and maintenance. We will incorporate lessons learnt from HTP in the Hawker Centres Upgrading Programme 2.0 (HUP2.0) [1].

    Future Proofing Our Hawker Centres through HUP 2.0

    4            Our hawker centres will require future proofing to cope with a warmer climate and an aging population. In particular, older hawker centres in mature estates need to be revitalised to meet the evolving needs of local communities, in tandem with rapid urban redevelopment in Singapore.

    5          To ensure our hawker centres continue to serve current and future generations of Singaporeans, the Government will allocate up to $1 billion over the next 20 to 30 years to upgrade hawker centres and build another five new hawker centres. HUP 2.0 [2] will upgrade hawker centre infrastructure to be more vibrant, accessible, and climate-resilient community spaces. Hawkers can also look forward to a more conducive work environment.

    Vibrant Community Spaces

    6            To make hawker centres a more pleasant space for multi-generational families and the community, NEA will optimise the use of space within hawker centres, such as through better stall configuration and centre layout. NEA will work closely with planning agencies such as HDB and URA to better plan and utilise common spaces so that they can serve the needs of the community more effectively. These spaces could be used for community activities and events which can help draw people to the hawker centres.  

    Accessible Hawker Centres for All

    7            NEA will also explore more elderly- and mobile-friendly features in hawker centres so that our hawker centres are more inclusive and accessible for all. These could include escalators, lifts, wider aisles, and greater digitalisation and adoption of technology. The features would take into account the demographic needs of the surrounding estate and feasibility of the site. With such features, NEA aims to make hawker centres more accessible to those who require mobility devices or young families with children in prams.

    Climate-resilient Infrastructure

    8            To adapt to rising temperatures and improve thermal comfort for patrons and stallholders, NEA will explore solutions to improve air circulation and reduce ambient temperatures, such as using high-volume-low-speed (HVLS) fans and greenery. With these efforts, patrons and stallholders can look forward to a more comfortable dining and working experience at hawker centres.

    9            While such future-proofing efforts can be implemented in most hawker centres through upgrading or refurbishment works, some older hawker centres in mature estates may need to be rebuilt. MSE and NEA are working closely with the relevant planning agencies to identify such hawker centres to dovetail their redevelopment works with estate development plans and ensure that they continue to serve the needs of surrounding residents and hawkers.

    10          To minimise disruptions to the hawkers and the community, the Government will engage hawkers and surrounding residents on the upgrading plans and timelines, and also provide appropriate support to hawkers affected by these plans.

    Five additional new hawker centres; Opening of New Hawker Centres at Bukit Batok West and Punggol Coast

    11          Since 2011, the Government has built and opened 14 new hawker centres in newer housing estates to ensure that our growing population has access to modern hawker centres with affordable food options. Examples include One Punggol Hawker Centre, Bukit Canberra Hawker Centre, Jurong West Hawker Centre and Woodleigh Village Hawker Centre.

    12        In 2025, two new hawker centres will open at Bukit Batok West and Punggol Coast [3]. Bukit Batok West Hawker Centre (469 Bukit Batok West Ave 9) will have 22 cooked food stalls and over 400 seats, while Punggol Coast Hawker Centre (84 Punggol Way) will have 40 cooked food stalls and over 680 seats.

    13          Complementing HUP 2.0, the Government will build another five new hawker centres to serve residents better. More details will be shared when ready.

    $600 rental support for SG60

    14        Hawker stallholders are a critical part of Singapore’s treasured hawker culture, which has shaped our national identity and heritage over the years. To recognise the contributions of our hawker stallholders, and in celebration of SG60 and the fifth anniversary of the inscription of Singapore’s Hawker Culture on the UNESCO Representative List of Intangible Cultural Heritage of Humanity, a one-off rental support of $600 per stall will be given to cooked food and market stallholders across hawker centres and markets managed by Government and Government-appointed operators, including those managed by NEA or NEA-appointed operators. Existing registered stallholders with an active tenancy as of 18 February 2025 will receive the $600 per stall. The $600 rental support will be disbursed progressively from April 2025.

    ——————-

    [1] HUP1.0 took place between 2001 and 2013, where we upgraded and rebuilt almost 100 hawker centres.

    [2] Possible features in existing Hawker Centres to be considered under Hawker Centres Upgrading Programme 2.0 are illustrated in Annex A.

    [3] Refer to the Annex B for images of the new hawker centres to be open in 2025.

    ~~ End ~~

     

    For more information, please submit your enquiries electronically via the Online Feedback Form or myENV mobile application.

    MIL OSI Asia Pacific News –

    March 4, 2025
  • MIL-OSI United Kingdom: Government no longer places girls in Young Offender Institutions

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government no longer places girls in Young Offender Institutions

    Vulnerable girls sentenced to youth custody will no longer be placed in Young Offender Institutions (YOIs)

    Ministers have acted immediately to end the practice of placing girls in young offender institutions following recommendations from Susannah Hancock’s independent review into the placement and care of girls in youth custody. 

    The review published today highlights the complex mental and physical health issues these girls often face, with self-harm at a concerning level. 

    It comes as recent figures show girls are involved in more than half the self-harm incidents across the youth estate in England and Wales, despite accounting for less than two percent of the children in custody. 

    The intervention will ensure girls are always placed in settings more suited to their needs such as Secure Schools or Secure Children’s Homes.   

    The decision was informed by feedback from hardworking staff and the vulnerable children in their care. The review found that despite tireless efforts of staff involved in their care, YOIs cannot offer the therapeutic, trauma-informed support these girls need. 

    Minister for Youth Justice Sir Nic Dakin said: 

    Girls in custody are often victims themselves with complex mental health and emotional needs. 

    Ending their placement in YOIs for good is a first step in drastically improving the support they receive to turn their lives around. 

    I am grateful to Susannah Hancock for her recommendations, and we will set out our response to each one in due course.

    Girls have not been placed in HMYOI Wetherby, the only YOI accepting girls, for several months. This has now been made a permanent decision. 

    Susannah Hancock was appointed by the government in November 2024 to conduct an independent review into the placement of girls in the children and young people’s secure estate.  

    The report acknowledges the scope of the challenge at hand, and the department will now consider the full range of its recommendations and develop a long-term action plan in response. 

    Susannah Hancock said:  

    I am pleased that the government has acted swiftly in accepting the first recommendation in my review and that girls will no longer be placed in YOIs.  

    This is an important step forward towards ensuring that all girls in custody receive appropriate levels of support, care and therapeutic interventions to address their physical, mental health and emotional needs.

    I look forward to hearing the government’s response to the wider review recommendations and to seeing professionals come together to help make positive changes for these girls.

    Stephanie Roberts-Bibby, Chief Executive of the Youth Justice Board said:

    We welcome the recommendations from Susannah Hancock’s independent review into girls in custody and we are pleased that the Minister has agreed to the immediate removal of girls in young offender institutions.

    It is our position, informed by the evidence, that girls should only be placed in secure settings in exceptional circumstances, and when this happens, they should be held in places that are designed to meet their needs. Children in the youth justice system are overwhelmingly boys, and as a result girls’ needs and vulnerabilities can be overlooked, resulting in them encountering poorer experiences and outcomes.

    The Youth Custody Service can place girls in different settings across the youth custody estate, including secure children’s homes, the new secure school and Oakhill Secure Training Centre. Girls were previously placed at HMYOI Wetherby following the closure of Rainsbrook Secure Training Centre, but today’s decision removes this placement option permanently.

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    Published 4 March 2025

    MIL OSI United Kingdom –

    March 4, 2025
  • MIL-OSI Russia: Sergei Sobyanin summed up the results of the Winter in Moscow project

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The Winter in Moscow project has ended in the capital. Almost 30 million Muscovites and guests of the city took part in it. Sergei Sobyanin summed up the results of the large-scale project in his blog.

    “Three months of festivities, almost 53 thousand events and countless impressions, smiles, cozy gatherings with loved ones and new acquaintances are behind us. I sincerely thank the organizers, artists, volunteers and everyone who helped to implement this large-scale and important project for the city – we did a great job together!” – wrote the Mayor of Moscow.

    The Winter in Moscow project united the largest festivals: Journey to Christmas, Moscow Estates, Moscow Tea Party, Moscow Maslenitsa, Chinese New Year in Moscow, Moscow Traditions, as well as popular city events: the parade of Father Frosts and Snow Maidens, Student Days in Moscow, Winter Day of Moscow Sports and much more.

    Good works

    Much attention was traditionally paid to charity. Residents and guests of the capital collected and handed over 35 thousand gifts to the Domiki Dobra (Houses of Good) of the Moscow Helps project. Warm clothes and cards with heartfelt wishes were brought for the participants of the special military operation (SVO), and toys and books were given to young residents of the new regions. Family members of SVO participants were given 30 thousand certificates for free visits to skating rinks, as well as 17 thousand tickets to New Year’s trees.

    In February, a charity day was held at the VDNKh skating rink. The proceeds from ticket sales were sent to the Konstantin Khabensky charity foundation, the Vera and Life Line hospices, and the I Am! foundation for supporting children with special needs.

    This year, a month before the official end of the “Kind Tree” campaign, Muscovites fulfilled more than 1,700 cherished wishes of the wards of 170 Moscow non-profit organizations.

    Many visited the winter charity festival “City of the Caring”, events of the volunteer project “Time of Good” and the inclusive exhibition “World without Borders” on the territory of the design factory “Flacon”, and also became Santa Clauses as part of the “Fulfill a Wish” campaign. They did not forget about four-legged animals: they collected food, shampoos and much more for shelters, including in new regions.

    Citywide festivals

    Citywide festivals were, as always, especially popular. As part of the “Journey to Christmas,” Muscovites and tourists met fairy-tale characters and heroes of their favorite Soviet comedies and cartoons, mastered folk crafts and learned to cook New Year’s dishes at master classes, competed in strength, dexterity and accuracy.

    More than 170 ice shows staged by the best Russian figure skaters took place on the venues of “Winter in Moscow”. Olympic champions and other brightest sports stars took to the ice as part of the festival. The program included performances based on favorite fairy tales (“The Nutcracker”, “Swan Lake”, “The Bremen Town Musicians”, “The Snow Queen”).

    The participants of the festival “Moscow Estates” especially remembered the park ball-performance “Theatre in a Box” in the N.E. Bauman Garden and Ostankino Park.

    The City of Light festival became a real celebration of art, mapping and New Year’s magic. Every evening the city streets turned into illustrations of favorite fairy tales. 10 architectural sites in the center of the capital were decorated with projections of iconic stories. Muscovites and guests of the capital could enjoy fantastic light canvases for almost four thousand hours.

    Last year, Muscovites loved the festival to celebrate the Chinese New Year. This year, it was extended and expanded — people could get acquainted with Chinese culture for two weeks at two dozen venues throughout the city.

    At the Moscow Tea Party festival, more than 37 thousand cups of Moscow tea were drunk. During Moscow Maslenitsa, 120 thousand portions of pancakes were eaten, and more than 270 thousand postcards were sent across the country via Winter Mail.

    “Moskino Cinema Park participated in the winter citywide project for the first time, so it prepared with special responsibility: film screenings, excursions, performances, immersive shows – one day is not enough to take part in everything. One of the most popular events was the performance “Cathedral Square” about the Time of Troubles – every screening was sold out,” said Sergei Sobyanin.

    A family space opened on the territory of the Moscow Palace of Pioneers, which was visited by more than 115 thousand people in three months. The skating rink was especially popular, as it worked continuously in any weather thanks to its artificial surface. In addition, residents and guests of the capital could visit a charity fair, go tubing and husky sledding. On weekends and holidays, the site hosted master classes, immersive performances, and an eco-farm with deer and alpacas. On the last day of winter, the site hosted a large-scale celebration of Maslenitsa.

    A family space opened on the territory of the Moscow Palace of Pioneers on Vorobyovy Gory, which was visited by more than 115 thousand people in three months. The skating rink, which worked continuously in any weather thanks to the artificial surface, was especially popular. In addition, residents and guests of the capital could visit a charity fair, ride tubing and husky sleds. On weekends and holidays, master classes, immersive performances were held, and an eco-farm with deer and alpacas operated. On the last day of winter, a large-scale celebration of Maslenitsa was held on the site.

    Market of Magic

    Another new feature of “Winter in Moscow” is the magic market of the “Made in Moscow” project. It was held on seven popular tourist streets of the capital – Arbat and Novy Arbat, Kuznetsky Most, Rozhdestvenka, Tverskoy Boulevard, Stoleshnikov Lane, and Bolotnaya Square. Each of the pavilions became a real art object. More than 500 Moscow manufacturers presented their products in them.

    In the flagship pavilion on Bolotnaya Square, one could not only buy products from Moscow manufacturers, but also participate in master classes, watch fashion shows and ice shows, and even ride a real steam locomotive. More than 570 thousand city residents visited the Magic Market, where over 3.5 thousand free themed events took place. In addition, there was a free skating rink, where more than 130 thousand people skated.

    The market became one of the key city support measures for the capital’s businesses. Thus, local brands were able to present their products on the shelves for free, selling more than 50 thousand units of goods. The market participants sent 10 percent of the proceeds to the charity fund “People’s Front. Everything for Victory!”

    Contribution of entrepreneurs

    Entrepreneurs — participants of the special project “Come on in!” — also contributed to the creation of a winter mood in the capital. They prepared more than 900 events — special offers in the form of discounts and bonuses and free gastronomic and creative master classes, performances, and sports. More than six thousand residents and guests of the city took advantage of the offers of the capital’s businesses.

    The 2nd Moscow Beauty Week was held in the Manezh Central Exhibition Hall. Over 60,000 people visited the event over the course of four days, and over 600 Russian companies presented their products, 384 of which were from the capital. One of the main stands at the exhibition was the Made in Moscow stand, designed as an advent calendar. Over 50 capital brands presented their unique products, and visitors could buy souvenirs, take part in themed master classes, and make gifts with their own hands.

    The festive atmosphere in Moscow was created by businessmen who decorated the facades, shop windows and entrances of their organizations. To support such enterprises, a competition for the best winter decoration was held, and a grant for decoration was provided for the first 100 entrepreneurs, within the framework of which businessmen were able to compensate part of the decoration costs. Most of the applications came from companies in the catering sector. In addition, creative teams, designers, as well as citizens over 18 years old were able to show their talents in a competition for the best project of festive and thematic decoration of a non-residential property.

    Events in the parks

    Immersive performances, ice shows and culinary master classes were organized for visitors in the capital’s parks. Interesting events were held here all winter, including the “Tasty Frosts” gastrofestival, the “Snow and Ice” festivals, “Blue Light”, “Hipsters” and much more. Three thousand people took part in the “Mandarin” New Year’s competition.

    We tried to please little Muscovites with New Year’s performances at Gostiny Dvor. The program was not limited to a musical performance, but also unfolded in a specially created space “Detstvograd” in the foyer around an 11-meter fir tree. More than 300 artists, equilibrists and animators took part in the Mayor’s tree.

    More than 600 tons of Ural ice were brought to Moscow for the Snow and Ice festival. Sculptures, light installations and art objects appeared in the city, creating a fairy-tale atmosphere. The central object of the festival was the Ice Castle of Wonders in the Muzeon Arts Park. This is a huge structure with multi-level slides, on which more than 75 thousand guests rode.

    Outdoor sports

    “Frosty weather is not a reason to deny yourself the pleasure of doing sports. And although winter did not spoil skiers with snow this year, skiing was still possible thanks to our artificial snow-covered slopes in Luzhniki, Bitsa Park, on the territory of Grebnoy Canal and in other places. The ski slopes, including those on Vorobyovy Gory, Novo-Peredelkino and Sevastopolsky Prospekt, were also popular,” the Moscow Mayor emphasized.

    For ice skaters, the city was a real paradise. One of the largest skating rinks, Luzhniki, hosted more than 100,000 people this winter season.

    As part of the Winter in Moscow project, master classes by famous figure skaters were held at the skating rinks. In total, more than 1.2 thousand people took part in them.

    Muscovites could assemble their own team or simply come to one of the 10 capital parks and enjoy the spirit of folk winter competitions, playing Russian hockey in felt boots, snow darts or curling as part of the new family sports festival “Moscow Traditions”. More than 100 thousand people took part in it.

    The winter season of the My Sports District project brought together 60,000 outdoor sports enthusiasts. Professional trainers conducted more than 5,800 skating, skiing, and fitness training sessions.

    A large-scale program was presented at the city’s largest skating rink at VDNKh, which could accommodate up to five thousand people at a time. Here, you could not only hone your skills, but also watch ice shows, participate in theme parties, morning exercises, night skating, and visit a children’s skating school. New features included stands for spectators, an ice arena for hockey and laser tag, a bar counter, and an expanded food court.

    From the end of November to the beginning of March, more than 120 events were held at the skating rink, and almost half a million people became its guests. In addition, during the New Year holidays, VDNKh guests could immerse themselves in the magical atmosphere at the New Year’s fair behind pavilion No. 58.

    Get to know the city better

    The new winter season was the augmented reality game “Winter in Moscow” based on the Russpass mobile app. Walking around the city, getting to know the sights and catching cartoons with the help of smartphones was enjoyed by both children and many adults – players visited the capital’s iconic places more than 730 thousand times.

    It was also possible to get to know Moscow or take a new look at it on excursions of the project “Heritage Around Us”. One of its features was the use of virtual reality glasses. Participants of the excursions could travel into the past and see the interiors of Moscow estates and other historical buildings, usually closed to visitors.

    “Winter in Moscow” was an amazing event, but summer is just around the corner – we are starting to prepare for a new project!” concluded Sergei Sobyanin.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/mayor/tkhemes/12434050/

    MIL OSI Russia News –

    March 4, 2025
  • MIL-OSI Russia: Investors can buy two commercial properties in northern Moscow from the city

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The city has put up for sale two non-residential buildings with a total area of over 560 square meters. They are located in the Northern Administrative District. This was reported by the Minister of the Moscow Government, Head of the Department of City Property Maxim Gaman.

    “Investors will be able to purchase two buildings with a total area of 563.2 square meters from the city in the north of the capital in the Khoroshevsky and Molzhaninovsky districts. They are located near major highways, metro stations and the Moscow Central Diameter, and there are residential buildings, educational institutions and shops nearby. The lots have a free designation, which means that future owners will be able to use the real estate at their own discretion. For example, they can open a restaurant or a mini-hotel in them,” said Maxim Gaman.

    One building with an area of 105 square meters is located at the address: 5th Magistralnaya Street, Building 10a, Building 2The second facility with an area of 458.2 square meters is located at: Leningradskoe shosse, house 196.

    “Anyone can take part in the auctions. To do this, you need to register on the trading platform, get an enhanced qualified electronic signature, make a deposit of 20 percent of the initial cost of the lot and submit an application, the acceptance of which will end on March 5, the auction is scheduled for March 17,” added Dmitry Ryabov, General Director of the City Property Management Center.

    The buildings put up for sale belong to the City Property Management Center.

    The organizer of the auction is Moscow City Department of Competition PolicyAccording to its director Kirill Purtov, auctions for the sale of commercial buildings are in demand among Moscow entrepreneurs. Over the past year, the city sold 57 such objects, and the average competition was eight participants per lot.

    Information about objects put up for open auctions is published onMoscow investment portal. You can study the lot documentation and rules for conducting auctions in the section “Property from the city”.

    The development of electronic services for entrepreneurs is being implemented within the framework of the national project “Data Economy”.

    The city sold almost 1,900 commercial premises at auction in 2024

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/150889073/

    MIL OSI Russia News –

    March 4, 2025
  • MIL-OSI Russia: The first house under the renovation program in the Ostankino district has been resettled

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The first five-story building under the renovation program was resettled in the Ostankinsky District in the northeast of the capital. Residents of house 12, building 2 on Godovikova Street moved to a neighboring new building (Godovikova Street, house 10). This was reported by the Minister of the Moscow Government, head of the capital’s Department of Urban Development Policy Vladislav Ovchinsky.

    “The first five-story building in the Ostankinsky District has been resettled under the renovation program. About 140 residents have moved to a new residential complex on the same street. The new building will have 222 apartments with finished, improved finishing. The entrances will have rooms for concierges, stroller rooms, and passenger elevators. From the new building, you can walk to the Alekseyevskaya metro station, educational institutions, healthcare facilities, a dance studio, shops, cafes, and other businesses,” Vladislav Ovchinsky noted.

    The area around the building was improved: it was landscaped, recreation areas, children’s playgrounds and a sports ground were set up.

    Earlier Sergei Sobyanin told on the implementation of the renovation program in the Eastern Administrative District. All information about it is presented on the mos.ru portal.

    The renovation program was approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. Earlier, the Mayor of Moscow ordered to increasethe pace of implementation of the renovation program has doubled.

    Moscow is one of the leaders among regions in terms of construction volumes. High rates of housing construction correspond to the goals and initiatives of the national project “Infrastructure for life”.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/150887073/

    MIL OSI Russia News –

    March 4, 2025
  • MIL-OSI Russia: More than 250 thousand gas stoves have been checked in Moscow since the beginning of the year

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    This year, specialists from the capital’s municipal services complex have checked more than 250 thousand gas stoves installed in Muscovites’ apartments. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “Gas safety issues are under special control, and scheduled maintenance of all gasified housing stock is carried out annually. In January-February, more than 250 thousand gas stoves were checked for compliance with safety requirements, which is almost 14 percent of the total number,” noted Petr Biryukov.

    Currently, about 1.8 million families in the capital use gas stoves. In order for this equipment to operate safely, it is very important to check it in a timely manner. Gas workers eliminate minor faults on the spot, and if serious violations are detected, they eliminate the safety threat and give recommendations for further operation and repair. Responsibility for maintaining and replacing gas equipment in proper condition rests with the owner or tenant of the residential premises.

    The service life of a gas stove is on average 10-12 years, after which the gas taps wear out, the burner diffusers become deformed, and the thermal insulation of the oven is damaged. It is impossible to maintain the safe operation of such devices; replacement is necessary.

    Gas stoves must be equipped with a gas control system that stops the gas supply if the flame in the burner goes out.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/150896073/

    MIL OSI Russia News –

    March 4, 2025
  • MIL-OSI United Kingdom: Over 4000 oppose destructive Loch Long salmon farm proposal

    Source: Scottish Greens

    04 Mar 2025 Nature

    The Loch Long salmon farm must be halted.

    More in Nature

    Over 4000 people have joined the call for the Scottish Government to finally reject destructive proposals for an industrial salmon farm development at Loch Long.

    The objections have been lodged via a web portal created by Scottish Green MSP Ariane Burgess.

    The controversial proposal was rejected by the National Park Authority in 2022. It was appealed by the developers almost 12 months ago, with the Scottish Government taking the rare decision to “call” it in.

    Only 2 miles from Loch Lomond, at the heart of Loch Lomond and The Trossachs National Park, Loch Long is an iconic landscape. It’s home to seals, otters and seabirds, as well as linking with the Endrick Water Special Area of Conservation, which hosts a fragile population of endangered Atlantic Salmon.

    The final decision now lies with the Scottish Government and Cabinet Secretary Shona Robison.

    Ms Burgess said:

    “A lot of residents have told me how concerned they are by this destructive proposal and what it would do to their local environment.

    “This has hung over local people for far too long. They want a decision and for the uncertainty to end.

    “Loch Long is renowned for its natural beauty, wildlife, and cultural heritage. The salmon farm would scar all of that. At present there is no salmon farming on Loch Long, and the local community wants to keep it that way.

    “I hope that the Cabinet Secretary reflects on the strength of local feeling and that together we can ensure that this iconic landscape and its wildlife are preserved for future generations.”

    Ms Burgess added:

    “The issue is bigger than this proposal. Salmon farming is an unsustainable and often very cruel practice that is in urgent need of dramatic improvement. We should not be giving away more of our waters to it.

    “Scotland positions itself as a frontrunner when it comes to animal welfare, but the overfarming of salmon is a risk to that reputation. 

    “It is time to pause new salmon farms and take meaningful action to address high mortality rates, environmental harm, and the welfare of farmed fish.”

    MIL OSI United Kingdom –

    March 4, 2025
  • MIL-OSI United Kingdom: Nuclear energy has no role in Scotland’s green future

    Source: Scottish Greens

    04 Mar 2025 Climate

    Nuclear energy is costly and toxic and will do nothing to cut bills.

    More in Climate

    New nuclear power would cost Scottish households while diverting funding and resources from real climate action, says Scottish Green Co-leader Patrick Harvie.

    Speaking ahead of a Scottish Government debate on Scotland’s renewable future, Mr Harvie warned that Labour’s focus on nuclear power would risk increasing household bills and would be a gift to a toxic industry that is not offering the solutions we need.

    The UK Labour government has proposed building new nuclear power plants across the UK touting so-called ‘small modular reactors’, despite one never having been built and the long-running record of the nuclear power industry running over schedule and budget.

    The first nuclear power plant to be built in the UK for over 30 years, at Hinkley Point, is nearing £28 billion over budget and despite the construction phase beginning in 2016, it will likely not generate any electricity until at least 2029 but possibly 2031.

    Mr Harvie said:

    “This cold war era obsession with nuclear power shows just how out of touch Labour are with the real crisis we face. It is costly, takes years to go online and will leave a long and toxic legacy for future generations.

    “New nuclear power would cost billions of pounds at a time when Labour are telling the public that there is no money to tackle poverty or keep pensioners warm. These new reactors would do nothing to reduce the bills that Labour promised to cut during the election.

    “Hinkley Point is the perfect example of everything wrong with nuclear power. Its construction has been a disaster for the environment, requiring masses more concrete and steel than initially thought and it is now running significantly over budget and behind schedule. Does Keir Starmer really think the people want more of this?

    “It is a distraction from doing the real work that is so important in terms of investing in clean, green renewable energy that will make a big difference for people and planet.

    “Keir Starmer seems to have been sold up the river by his friends in the nuclear power industry who promise modular reactors, which have never been built to any kind of scale and don’t remove the major problem of highly toxic nuclear waste that will still scar our landscape for centuries to come.

    “Scotland can have a positive and prosperous green future, but nuclear energy has no part in it. We have the resources for a renewables revolution but we need all governments to commit to it rather than taking a big backwards step with nuclear.”

    MIL OSI United Kingdom –

    March 4, 2025
  • MIL-OSI Asia-Pac: Property sales fall 12.8%

    Source: Hong Kong Information Services

    The Land Registry logged 4,307 sale and purchase agreements for all building units received for registration in February, down 12.8% compared with January and up 35.1% year-on-year.

    The total consideration for such agreements in February dropped 23% from the previous month to $28.3 billion, representing a 25.3% year-on-year growth.

    Of the agreements, 3,200 were for residential units, amounting to an 11.7% decrease from January and a 34.7% rise from a year ago.

    The total consideration for residential units was $23 billion, down 13.9% compared with January and 20.5% higher year-on-year.

    There were 338,037 land register searches last month.

    MIL OSI Asia Pacific News –

    March 4, 2025
  • MIL-OSI Africa: Life after school for young South Africans: six insights into what lies ahead

    Source: The Conversation – Africa – By Gabrielle Wills, Senior researcher at Research on Socio-Economic Policy, Stellenbosch University

    At the dawn of democracy in 1994, South Africa faced a sobering reality. Fewer than a third of 25- to 34-year-olds had achieved at least a matric (12 years of schooling completed) or equivalent qualification.

    Thirty years on, the proportion of individuals in this age group that had completed their schooling had almost doubled to 57%. This figure will be further bolstered by the record-breaking results in the National Senior Certificate (matric) examinations in recent years. South Africa’s school completion rates are now high and comparable to other middle-income countries.

    But this good news is tempered by very high youth unemployment and a faltering economy. What are the prospects for young South Africans once they’ve matriculated?

    I have aimed to answer this question in my new study. By using the Quarterly Labour Force Survey – a nationally representative, household-based sample survey – and other data sources, I have developed six insights that tell us what the post-matric landscape is like today. For the purposes of the study I defined recent matriculants as 15-24-year-olds with 12 years of completed schooling.

    This study highlights how increasingly larger proportions of recent matriculants find they have limited opportunities. The rising number of youth leaving school with a matric, especially in recent years, is not being met with enough opportunities beyond school, whether in work or in post-school education and training.

    Conditions in South Africa’s labour market must improve and further expansion in quality post-school education and training is required for the country to realise the benefits of rising educational attainment and progress for national development.

    1. Less chance of employment

    The graph below illustrates a brutal truth: ten years ago finding a job was easier for matriculants than it will be for the matric class who finished school in 2024. Between 2014 and 2018 about 4 of every 10 recent matriculants who were economically active (including discouraged work seekers) were employed. By the start of 2024 this figure was closer to 3 of every 10.

    Percent of South African youth employed by qualification level. Dr Gabrielle Wills, CC BY-NC-ND

    The likelihood of youth with a matric having a job at the start of 2024 roughly resembled the chances of youth without a matric having a job eight to ten years ago.

    With more learners progressing to matric, especially due to more lenient progression policy during and just after the COVID-19 pandemic, changes in the composition of the matric group could be driving some of the declines in this group’s employment prospects. But there has been a deterioration in the labour market for all youth over the past decade. Employment prospects have even declined for youth with a post-school qualification.

    2. Not in employment, education or training

    Proportionally fewer recent matriculants are going on to work or further study.

    Before the COVID-19 pandemic (2014-2019), around 44%-45% of recent matriculants were classified as “not in employment, education or training” (NEET). The NEET rate among recent matriculants peaked at 55% in early 2022 and remained high at 49.8% at the start of 2024.

    Stated differently, one of every two recent matriculants was not engaged in work or studies in the first quarter of last year. That’s 1.78 million individuals. Coupled with the rising numbers of youth getting a matric, this implies that the number of recent matriculants who were not working or studying rose by half a million from the start of 2015 to the start of 2024.

    Among all 15-24-year-olds, the NEET rate rose from 32% in the first quarter of 2014 to 35% in the first quarter of 2024. Even larger increases in the NEET rate occurred among 25-34-year-olds, rising from 45% to 52% over the same period.

    This is a worry. But it doesn’t mean the matric qualification has no value.

    3. A matric still provides an advantage

    In early 2024, nearly half of matriculants aged 15-24 were classified as not in employment, education or training. Almost 8 out of 10 of their peers who had dropped out of school were NEET. In short, you’re still more likely to get a job or further your studies with a matric certificate than without one.

    4. A hard road

    The road to opportunity beyond school is harder than it was a decade ago.

    Among NEET matriculants aged 15-24 at the start of 2014, 27% searched for work for more than a year. By early 2024, this figure had risen to 32%.

    It’s even worse for 25-34-year-old NEETs who hold a matric qualification. The percentage searching for work for over a year rose from 37% at the start of 2014 to 50% in early 2024.

    The longer young people remain disconnected from employment, education or training, the greater the toll on their mental health. NEET status is associated with worse mental health, particularly among young men.

    5. Post-school education and training

    The government has made ambitious plans to expand opportunities for young people to study further. But enrolments in post-school education and training are not growing sufficiently to match the rising tide in school completion or to absorb youth who cannot find jobs. And, with projected declines in real per student spending on post-school education as South Africa tries to address escalating national debt servicing costs, this situation is unlikely to improve anytime soon.

    The country is not keeping pace with tertiary enrolment rates in other developing nations like Brazil, Indonesia or China. For instance, 2021 estimates from the World Bank identify South Africa’s tertiary enrolment rate at 25%, compared to 41% in Indonesia, 57% in Brazil and 67% in China.

    6. Location matters

    Where someone lives in South Africa influences their chances for upward mobility. These inequalities are reflected in varying youth NEET rates across provinces. For instance, a third of recent matriculants in the Western Cape were not in employment, education or training in 2023/2024. That figure more than doubles in the North West province to 67%.

    How to help

    Two things are needed: improving labour market conditions and expanding post-school education and training opportunities.

    This is unlikely without improved economic growth.

    All of this may sound hopeless. But there are things that ordinary South Africans can do, too:

    • keep encouraging young people in your orbit to complete their schooling

    • where possible, spur them on to obtain a post-school qualification

    • use your social networks to connect youth to work experience opportunities, and help with CVs, referral letters and references.

    Young people must also adopt a practical, pragmatic and entrepreneurial mindset. They need to seize every opportunity available to them, whether in the labour market or post-school education.

    – Life after school for young South Africans: six insights into what lies ahead
    – https://theconversation.com/life-after-school-for-young-south-africans-six-insights-into-what-lies-ahead-249031

    MIL OSI Africa –

    March 4, 2025
  • MIL-OSI Economics: Pension wealth of Danes increased by more than kr. 300 billion in 2024

    Source: Danmarks Nationalbank

    Insurance and pension

    04 March 2025Statistics period: 4th Quarter 2024

    The pension wealth in Danish pension companies increased by kr. 317 billion in 2024 and now amounts to kr. 4,351 billion. Over the past two years, the pension wealth has increased by kr. 601 billion, mainly due to large capital gains on stocks and bonds. The pension wealth is now back to the level before the significant decline in 2022. Pension contributions have also contributed to the increase in wealth. In 2024 alone, net contributions were kr. 48 billion. Overall, Danes have increased their pension contributions in recent years, partly due to wage increases and higher employment.



    The pension wealth is kr. 4,351 billion in 4th quarter 2024

    Note:

    The pension wealth is defined as provisions for future pension obligations (for market rate and average interest rate products) in Danish pension companies. In addition to pension wealth in pension companies, Danish households also have individual pension schemes in financial institutions. Find chart data in the Statbank.

    MIL OSI Economics –

    March 4, 2025
  • MIL-OSI Global: Life after school for young South Africans: six insights into what lies ahead

    Source: The Conversation – Africa – By Gabrielle Wills, Senior researcher at Research on Socio-Economic Policy, Stellenbosch University

    Matric exams are a crucial moment in a young person’s educational journey. Fani Mahuntsi/Gallo Images via Getty Images

    At the dawn of democracy in 1994, South Africa faced a sobering reality. Fewer than a third of 25- to 34-year-olds had achieved at least a matric (12 years of schooling completed) or equivalent qualification.

    Thirty years on, the proportion of individuals in this age group that had completed their schooling had almost doubled to 57%. This figure will be further bolstered by the record-breaking results in the National Senior Certificate (matric) examinations in recent years. South Africa’s school completion rates are now high and comparable to other middle-income countries.

    But this good news is tempered by very high youth unemployment and a faltering economy. What are the prospects for young South Africans once they’ve matriculated?

    I have aimed to answer this question in my new study. By using the Quarterly Labour Force Survey – a nationally representative, household-based sample survey – and other data sources, I have developed six insights that tell us what the post-matric landscape is like today. For the purposes of the study I defined recent matriculants as 15-24-year-olds with 12 years of completed schooling.

    This study highlights how increasingly larger proportions of recent matriculants find they have limited opportunities. The rising number of youth leaving school with a matric, especially in recent years, is not being met with enough opportunities beyond school, whether in work or in post-school education and training.

    Conditions in South Africa’s labour market must improve and further expansion in quality post-school education and training is required for the country to realise the benefits of rising educational attainment and progress for national development.

    1. Less chance of employment

    The graph below illustrates a brutal truth: ten years ago finding a job was easier for matriculants than it will be for the matric class who finished school in 2024. Between 2014 and 2018 about 4 of every 10 recent matriculants who were economically active (including discouraged work seekers) were employed. By the start of 2024 this figure was closer to 3 of every 10.

    Percent of South African youth employed by qualification level.
    Dr Gabrielle Wills, CC BY-NC-ND

    The likelihood of youth with a matric having a job at the start of 2024 roughly resembled the chances of youth without a matric having a job eight to ten years ago.

    With more learners progressing to matric, especially due to more lenient progression policy during and just after the COVID-19 pandemic, changes in the composition of the matric group could be driving some of the declines in this group’s employment prospects. But there has been a deterioration in the labour market for all youth over the past decade. Employment prospects have even declined for youth with a post-school qualification.

    2. Not in employment, education or training

    Proportionally fewer recent matriculants are going on to work or further study.

    Before the COVID-19 pandemic (2014-2019), around 44%-45% of recent matriculants were classified as “not in employment, education or training” (NEET). The NEET rate among recent matriculants peaked at 55% in early 2022 and remained high at 49.8% at the start of 2024.

    Stated differently, one of every two recent matriculants was not engaged in work or studies in the first quarter of last year. That’s 1.78 million individuals. Coupled with the rising numbers of youth getting a matric, this implies that the number of recent matriculants who were not working or studying rose by half a million from the start of 2015 to the start of 2024.

    Among all 15-24-year-olds, the NEET rate rose from 32% in the first quarter of 2014 to 35% in the first quarter of 2024. Even larger increases in the NEET rate occurred among 25-34-year-olds, rising from 45% to 52% over the same period.

    This is a worry. But it doesn’t mean the matric qualification has no value.

    3. A matric still provides an advantage

    In early 2024, nearly half of matriculants aged 15-24 were classified as not in employment, education or training. Almost 8 out of 10 of their peers who had dropped out of school were NEET. In short, you’re still more likely to get a job or further your studies with a matric certificate than without one.

    4. A hard road

    The road to opportunity beyond school is harder than it was a decade ago.

    Among NEET matriculants aged 15-24 at the start of 2014, 27% searched for work for more than a year. By early 2024, this figure had risen to 32%.

    It’s even worse for 25-34-year-old NEETs who hold a matric qualification. The percentage searching for work for over a year rose from 37% at the start of 2014 to 50% in early 2024.

    The longer young people remain disconnected from employment, education or training, the greater the toll on their mental health. NEET status is associated with worse mental health, particularly among young men.

    5. Post-school education and training

    The government has made ambitious plans to expand opportunities for young people to study further. But enrolments in post-school education and training are not growing sufficiently to match the rising tide in school completion or to absorb youth who cannot find jobs. And, with projected declines in real per student spending on post-school education as South Africa tries to address escalating national debt servicing costs, this situation is unlikely to improve anytime soon.

    The country is not keeping pace with tertiary enrolment rates in other developing nations like Brazil, Indonesia or China. For instance, 2021 estimates from the World Bank identify South Africa’s tertiary enrolment rate at 25%, compared to 41% in Indonesia, 57% in Brazil and 67% in China.

    6. Location matters

    Where someone lives in South Africa influences their chances for upward mobility. These inequalities are reflected in varying youth NEET rates across provinces. For instance, a third of recent matriculants in the Western Cape were not in employment, education or training in 2023/2024. That figure more than doubles in the North West province to 67%.

    How to help

    Two things are needed: improving labour market conditions and expanding post-school education and training opportunities.

    This is unlikely without improved economic growth.

    All of this may sound hopeless. But there are things that ordinary South Africans can do, too:

    • keep encouraging young people in your orbit to complete their schooling

    • where possible, spur them on to obtain a post-school qualification

    • use your social networks to connect youth to work experience opportunities, and help with CVs, referral letters and references.

    Young people must also adopt a practical, pragmatic and entrepreneurial mindset. They need to seize every opportunity available to them, whether in the labour market or post-school education.

    Gabrielle Wills is a senior researcher with Research on Socio-Economic Policy at Stellenbosch University. This research for the COVID-Generation project was made possible by financial support from Allan and Gill Gray Philanthropies. The findings and conclusions contained within are those of the authors and do not necessarily reflect positions or policies of Allan & Gill Gray Philanthropies.

    – ref. Life after school for young South Africans: six insights into what lies ahead – https://theconversation.com/life-after-school-for-young-south-africans-six-insights-into-what-lies-ahead-249031

    MIL OSI – Global Reports –

    March 4, 2025
  • MIL-OSI China: Taishan builds integrated housing system to attract young talent

    Source: China State Council Information Office 2

    Taishan, a city in southern China’s Guangdong province, has launched an integrated housing support system to attract and retain young professionals. 
    This “one-stop” initiative provides a seamless transition from short-term stays to long-term residence, addressing the evolving housing needs of young talent while easing financial pressures and fostering a sense of belonging.
    In Taishan, young professionals can choose from a range of options, including short-term accommodations at Talent Stations or long-term housing in Youth Apartments. These living spaces provide essential support for young talent looking to establish their careers in the city, helping them feel at home while driving innovation and productivity.
    The city is also expanding its investment in Talent Apartments and affordable rental housing. Talent Apartments cater to high-level professionals, offering premium living environments and services, while affordable rentals provide low-cost, well-equipped housing for a broader group of young workers.
    Moving forward, the city plans to further enhance its housing programs, improve service quality, and create an even more attractive environment for young professionals. 

    MIL OSI China News –

    March 4, 2025
  • MIL-OSI Australia: President’s message | March 2025

    Source: Australian Human Rights Commission

    We must work together to address the scourge of racism.

    The Director-General of ASIO, Mike Burgess, said in Parliament last week that “in terms of threats to life” antisemitism is ASIO’s top priority. He said he believed it was the first time a form of racism was the agency’s highest priority.

    The assessment underscored the intensification and severity of the attacks against the Jewish community over recent months. On top of racist abuse, threats and graffiti on homes, schools and neighbourhoods, these have included arson attacks on synagogues and a childcare centre, and the discovery of a caravan filled with explosives.

    These antisemitic attacks seek to instil fear and division. The targeting of the Jewish community affects us all. It tests us as a nation. If we fail to protect any community from harm, we fail as a nation.

    Racism more broadly is rising. Muslim and Palestinian communities have experienced increased racism since 7 October 2023. As the Special Envoy has said, Islamophobia is normalised and underacknowledged in Australia.

    First Nations communities continue to experience widespread racism which spiked in volume and hostility during and after the Voice referendum. The systemic nature of racism affecting First Nations people is highlighted by the lack of progress on so many of the Closing the Gap targets including child removal and imprisonment.

    The Australian Human Rights Commission is responding to racism in a number of ways:

    •    Our access to justice services provide free, impartial and accessible dispute resolution services for people affected by racial discrimination and vilification.

    •    Late last year we released our National Anti-Racism Framework which outlines a comprehensive, whole of society approach for eliminating racism in Australia.

    •    We are undertaking work to support Arab, Jewish, Muslim and Palestinian communities in Australia through our Seen and Heard Project.

    •    We are conducting a landmark national study on the prevalence, nature and impact of racism at universities and how to address it.

    •    We continue to provide expert advice on law reform and policy proposals to tackle racism including on doxxing, the display of Nazi symbols, misinformation and disinformation and anti-hate and vilification laws.

    Racism is pervasive and harmful. But it is not inevitable. Working together, we can build a society where everyone can live with dignity and respect and has the same opportunity to thrive, regardless of their race, culture or faith.

    Hugh de Kretser
     

    Connect with me:
    LinkedIn – Hugh de Kretser
    Instagram @hughdekretser
     

    MIL OSI News –

    March 4, 2025
  • MIL-OSI Security: Camden County Man Who Directed the Arson of a Bucks County Warehouse Sentenced to Six Years in Prison

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    PHILADELPHIA – Acting United States Attorney Nelson S.T. Thayer, Jr., announced that Ramiz Duka, 62, of Cherry Hill, New Jersey, was sentenced today by United States District Court Judge Kelley Brisbon Hodge to six years in prison, three years of supervised release, and $6,158,686.84 in restitution for conspiring to commit the arson of a Bucks County warehouse.

    On October 30, 2024, Duka was convicted at trial of conspiracy to commit malicious damage by means of fire of a building used in interstate commerce.

    The facts at trial established that Duka recruited two men into a conspiracy to set fire to a warehouse located at 1388 Bridgewater Road in Bensalem, Pa., paying them $15,000 to do so. Over the course of several weeks, the three co-conspirators met and planned the arson.

    On December 10, 2022, one of the men recruited to the conspiracy by Duka set fire to the building. During fire suppression operations, one firefighter was seriously injured when a ladder collapsed. Damages from the fire totaled over $6 million.

    “Ramiz Duka orchestrated this arson plot and set it in motion with no regard for the unpredictable nature of fire, the potential for the flames to spread, or the risks facing first responders reporting to fight the blaze,” said Acting U.S. Attorney Thayer. “Arson endangers lives and communities, and, as this case shows, our office will continue to work with our partners to hold accountable those reckless enough to commit such a serious crime.”

    “Arson is a dangerous crime with dire consequences, as in this case, seriously injuring a firefighter who was serving to protect his community” said Eric DeGree, Special Agent in Charge of the ATF’s Philadelphia Field Division. “I thank the Bensalem Township Police and Fire-Rescue, U.S. Attorney’s Office and other partners who are helping the ATF-led Philadelphia Arson and Explosives Task Force seek justice and keep our communities safe from dangerous arsonists like Ramiz Duka.”

    The case was investigated by Bureau of Alcohol, Tobacco, Firearms and Explosives and the Bensalem Police Department, and is being prosecuted by Assistant United States Attorney Amanda R. Reinitz. Special thanks to the Bensalem Township Fire Rescue and the volunteer firefighter companies in and around Bensalem that responded to the fire.

    MIL Security OSI –

    March 4, 2025
  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Proceeds with Tariffs on Imports from Canada and Mexico

    US Senate News:

    Source: The White House
    SAFEGUARDING THE NATION: President Donald J. Trump is proceeding with implementing tariffs on Canada and Mexico under the International Emergency Economic Powers Act (IEEPA) to combat the extraordinary threat to U.S. national security, including our public health posed by unchecked drug trafficking.
    While President Trump gave both Canada and Mexico ample opportunity to curb the dangerous cartel activity and influx of lethal drugs flowing into our country, they have failed to adequately address the situation.
    The flow of contraband drugs like fentanyl into the United States, through illicit distribution networks, has created a national emergency, including a public health crisis.
    Mexican drug trafficking organizations, the world’s leading fentanyl traffickers, operate unhindered due to an intolerable relationship with the government of Mexico.
    The government of Mexico has afforded safe havens for the cartels to engage in the manufacturing and transportation of dangerous narcotics, which collectively have led to the overdose deaths of hundreds of thousands of American victims.
    Mexican drug cartels are known for extreme brutality, corruption, and control over entire regions of Mexico.
    The Sinaloa and Jalisco cartels manufacture fentanyl in clandestine labs they oversee in Mexico, in both powder form and pressed into fake pills, and traffic it into the United States through the many entry points they control. 97% of seizures occur at the U.S.-Mexico border.
    Cartel violence, including armed drones and roadside IEDs, are coming in closer and closer proximity to the U.S.-Mexico border as cartels are more actively targeting one another as well as Mexican military and law enforcement personnel.
    This alliance with the Mexican government endangers the national security of the United States, and we must eradicate the influence of these dangerous cartels.

    There is also a growing presence of Mexican cartels operating fentanyl and nitazene synthesis labs in Canada. 
    A recent study recognized Canada’s heightened domestic production of fentanyl, and its growing footprint within international narcotics distribution.
    Canada-based drug trafficking organizations maintain robust “super labs,” mostly in rural and dense areas in western Canada, some of which can produce 44 to 66 pounds of fentanyl weekly.
    Last year’s northern border fentanyl seizures, though smaller than Mexico’s, could kill 9.5 million Americans due to the drug’s potency—proof of Canada’s growing role in this crisis.
    Fentanyl seizures at the northern border in the first four months of this fiscal year are quickly closing in on what was seized the entirety of  fiscal year 2022.

    Both nations’ failure to arrest traffickers, seize drugs, or coordinate with U.S. law enforcement constitutes an unusual and extraordinary threat to America’s security—demanding IEEPA action to force accountability and protect American lives.
    PRESIDENT TRUMP IS KEEPING HIS PROMISE TO STOP THE FLOOD OF ILLEGAL ALIENS AND DRUGS: When voters overwhelmingly elected Donald J. Trump as President, they gave him a mandate to seal the border. That is exactly what he is doing.
    The Biden Administration’s policies fueled the worst border crisis in U.S. history.
    More than 10 million illegal aliens attempted to enter the United States under Biden’s leadership.
    This problem is not confined to the southern border—encounters at the northern border with Canada are rising as well.
    The sustained influx of illegal aliens has profound consequences on every aspect of our national life—overwhelming our schools, lowering our wages, reducing our housing supply and raising rents, overcrowding our hospitals, draining our welfare system, and causing crime.  
    Gang members, smugglers, human traffickers, and illegal drugs and narcotics of all kinds are pouring across our borders and into our communities. 
    Last fiscal year, Customs and Border Protection (CBP) apprehended more than 21,000 pounds of fentanyl at our borders, enough fentanyl to kill more than 4 billion people.
    Since 2023, the Drug Enforcement Administration (DEA) has seized more than 25,697 kilograms of fentanyl pills and more than 7,272 kilograms of fentanyl powder at the southern border, and more than 659 kilograms of fentanyl pills and more than 650 kilograms of fentanyl powder at the northern border.
    From 2021 to present, fentanyl has been the leading cause of drug overdose deaths in the U.S., followed by methamphetamine, cocaine, and heroin in that order.
    According to the CDC, 68 percent of all drug poisoning deaths in 2022 and 2023—216,294 total—were caused by synthetic opioids, primarily fentanyl.
    It is estimated that federal officials are only able to seize a fraction of the fentanyl smuggled across the southern border.  
    More Americans are dying from fentanyl overdoses each year than the number of American lives lost in the entirety of the Vietnam War.

    BUILDING ON PAST SUCCESS: President Trump continues to demonstrate his commitment to ensuring U.S. trade policy serves the national interest.
    As President Trump said in the Presidential Memorandum on American First Trade Policy, trade policy is a critical component in national security.
    President Trump promised in November to “sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders. This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”
    During his first term as President of the United States, President Trump established the President’s Commission on Combating Drug Addiction and the Opioid Crisis and declared the Opioid Crisis a public health emergency.
    President Trump also has a long record of putting America first on trade. In his first term, President Trump successfully used threats of tariffs on Mexico to help secure our border.
    When our national security was threatened by a global oversupply of steel and aluminum, President Trump took swift action to protect America’s national security by implementing tariffs on imports of these goods.

    MIL OSI USA News –

    March 4, 2025
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