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Category: housing

  • MIL-OSI Economics: Samsung Partners With Kia to Integrate SmartThings Pro into Kia PBV for More Convenient Business Management Experiences

    Source: Samsung

    Samsung Electronics Co., Ltd. today announced a partnership with Kia Corporation that integrates SmartThings Pro, Samsung’s B2B management solution, into Kia’s Platform Beyond Vehicles (PBVs).1 The agreement — signed at the Kia EV Day event held this week in Spain — is an extension of the strategic technology partnership signed last September with Hyundai Motor and Kia.
    The latest agreement expands the collaboration to provide business customers with more convenient and valuable mobility experiences through SmartThings Pro. The B2B management platform offers efficient energy savings and integrated space management by connecting various devices, solutions and services across residential facilities to office buildings and commercial facilities. Attending the signing ceremony were Chanwoo Park, Executive Vice President at Samsung’s B2B Integrated Offering Center, and Sangdae Kim, Head of Kia’s PBV Division.
    “By integrating SmartThings Pro into Kia PBV, we plan to present an intelligent new way for businesses to be connected to their customers,” said Chanwoo Park, Executive Vice President of B2B Integrated Offering Center at Samsung Electronics. “We will provide an optimized integrated store management experience based on customized solutions to cater for a range of B2B customers including the self-employed and small business owners.”

    With the integration of SmartThings Pro and Kia PBV, B2B customers can connect their vehicles to external business spaces and execute automated routine controls set in vehicles to increase operational efficiency and convenience. For example, self-employed and small business owners who purchase Kia PBVs will be able to manage automation routines such as air conditioning, signage and home appliances in their stores through SmartThings Pro, making operation and management much more convenient.
    Small business owners who remotely operate multiple unmanned stores or shared lodgings can use a Kia PBV to manage them in real time while on the move. As part of remote management, users can receive notifications of abnormal activity and device failures or maintenance. Users can also manage check-ins and check-outs, optimize air conditioning and prevent energy waste when customers are away.
    Additionally, SmartThings Pro provides advance notifications of the on-site tasks that need to be carried out — such as consumable replacements and maintenance lists — tailored to the store or establishment where the PBV arrives, enabling easy operation.

    MIL OSI Economics –

  • MIL-OSI China: Beijing launches E-level intelligent computing center

    Source: China State Council Information Office 2

    The Beijing Digital Economy Computing Power Center, a state-of-the-art E-level computing center housing supercomputers capable of performing 100 trillion calculations per second, was announced as completed yesterday by Beijing Electronic Digital and Intelligence (BEDI).
    The center, located in Beijing’s Chaoyang district, integrates multiple functional areas and is a key initiative among Beijing’s “300 major projects.”
    BEDI, a state-owned firm that provides computing power and cloud infrastructure for artificial intelligence (AI) applications, developed and now operates the facility.
    The center operates on a “1 base + 2 platforms” structure, with the base consisting of three technological layers.
    The foundation layer houses China’s first large-scale, high-efficiency domestic computing infrastructure. Above this sits the model layer, providing fundamental AI models and development tools. The top operation layer employs digital twin technology and maintenance systems that enable visual monitoring, enhancing overall efficiency and management.
    To promote AI industry growth, the center has established dual platforms for industrial development: one empowering traditional sectors and another accelerating emerging industries. The traditional industry empowerment platform supports multi-industry vertical models, advancing “industrial AI,” while the emerging industry platform focuses on cutting-edge fields, driving AI-powered industrialization.
    The Chaoyang AIGC (AI-generated content) Audiovisual Industry Innovation Center has already been established at the computing center to support high-quality innovation in digital creativity and related sectors.

    MIL OSI China News –

  • MIL-OSI Economics: Homeowners are still paying less in installments on their mortgage debt

    Source: Danmarks Nationalbank

    Despite the fact that homeowners have increased their debt with installments since the fall of 2023, so that they are now paying installments on both more mortgage debt and a larger share of their total mortgage debt, homeowners are paying less in installments overall per mortgage million borrowed. The share of homeowners’ total mortgage debt that is with installments was 52.6 per cent at the end of 2024. Despite the increase since the fall of 2023, this is still considerably lower than in 2020, when the share most recently peaked at around 55 per cent.

    Higher interest rates, longer remaining term, lower installments

    Since interest rate increases accelerated in 2022, the average interest rate on homeowners’ mortgage debt with installments has tripled, corresponding to an increase of 1.8 percentage points. In isolation, the interest rate increase has meant that the ordinary installments on homeowners’ debt have been reduced by 20 per cent. This is because the service on homeowners’ mortgage loans with installments consists of interest and administration fees as well as ordinary installments. When the interest payment increases, the installment profile on the debt will typically become steeper. This means that the installments at the beginning of the loans maturity are lower and make up a smaller part of the service than otherwise.

    Higher interest rates also mean that the length of the remaining maturity of the mortgage debt has a greater impact on how much is paid in installments. This is because mortgage loans with installments are typically annuity loans, where installments constitute a smaller part of the service at the beginning of the loan maturity and increase as the remaining maturity decreases. At the end of 2024, the average remaining maturity of homeowners’ mortgage debt with installments was 23 years and 10 months. The remaining maturity has been fairly stable over the past 5 years and has only varied by 5 months.The stable remaining maturity is an expression of the fact that the natural decrease in the remaining maturity, as time goes by, has largely been offset by new and restructured mortgage loans with longer remaining maturity and loans where the remaining maturity has been extended, for example in connection with interest rate adjustments.

    Not all homeowners pay less installments

    There is a close connection between the types of homeowners’ loans and how much they pay in ordinary installments. Many homeowners with variable-rate loans have received a new and typically higher interest rate on their loans, if they have been adjusted since 2022. These homeowners are now paying significantly more in interest on their loans than before. For many homeowners, this also means that they are paying less in installments.

    Homeowners with fixed-rate loans, on the other hand, are guaranteed a fixed interest rate over the entire maturity of the loan. Those who have maintained their loans will therefore not have felt the consequences of the rising interest rates on the size of their ordinary installments.

    Homeowners who have restructured their fixed-rate loans, on the other hand, will typically have received a higher interest rate and, as a consequence, will pay less in installments than before the restructuring. If, in connection with the restructuring, the homeowners have extended the remaining maturity of the debt or reduced the remaining debt, this will also contribute to the ordinary installments being smaller. 

    Extraordinary reduction of outstanding debt

    Homeowners can choose to reduce their mortgage debt exceptionally in connection with loan restructuring or via extraordinary installments. However, the scope of extraordinary installments is relatively limited compared to ordinary installments. Nevertheless, the higher interest rate level in recent years has made it more attractive for homeowners to make extraordinary installments on their mortgage debt and thus reduce their interest payments. In 2024, an average of kr. 1,850 was paid in extraordinarily installments per million borrowed in mortgage loans, compared to kr. 800 in 2020.

    The development of interest rates has had a large impact on extraordinary reductions in outstanding debt through loan restructurings of fixed-rate mortgage debt – i.e. through early repayment of loans significantly below the rate of 100 and taking out a new loan with a lower outstanding debt. Particularly in 2022 and 2023, a number of homeowners chose to reduce their outstanding debt in connection with loan restructuring. The reduction corresponds to DKK 12,400 in 2022 and almost DKK 8,000 in 2023 per million borrowed in mortgage loans.

    MIL OSI Economics –

  • MIL-OSI: Azerion publishes Interim Unaudited Financial Results Q4 2024 and Preliminary Unaudited Financial Results Full Year 2024

    Source: GlobeNewswire (MIL-OSI)

    Strong Platform performance driving profitability

    Highlights of FY and Q4 2024

    Our FY 2024 performance reflects the year long focus on efficiency and profitability driven by continued investment in the advertising platform: 

    • FY 2024 Revenues up 13% from € 486.7 million1 to € 551.2 million
    • FY 2024 Adjusted EBITDA up 21% YoY from € 62.2 million1 to € 75.1 million

    Specifically in Q4 2024, we focused on driving synergies and eliminating redundant costs in the advertising platform: 

    • Q4 2024 Adjusted EBITDA up 14% YoY from € 26.4 million to € 30.1 million 
    • Core segment Platform outperformed the group with Adjusted EBITDA up 15% from € 22.8 million in Q4 2023 to € 26.2 million in Q4 2024
    • Maintained Q4 2024 Revenues at € 168 million (-2%) while integrating and reorganising 2022 and 2023 acquisitions in order to phase out low margin revenues and focus on increased profitability

    At the same time we used the last quarter to strengthen our position through new partnerships, acquisitions and further financing:

    • Signed 90 new publishers and connected 3 additional SSPs and DSPs to expand our digital audiences across Europe and the Americas and further integrated our publisher monetisation tool OneFMS across regions.
    • Finalised the acquisition of Goldbach Austria GmbH, one of the foremost digital and linear advertising brokers in the DACH region providing Azerion with additional digital out of home footprint and an annual revenue run rate of over € 20 million.  
    • Entered new partnerships with Produpress in Belgium and Moneytizer in France to enrich the unique content and audiences that we make available for brands and agencies.
    • Successfully completed the placement of additional bonds for an amount of € 50 million under Azerion’s existing Senior Secured Callable Floating Rate Bond framework of € 300 million.

    In addition, we further invested in our platform’s multi-cloud infrastructure and AI capabilities:

    • Added Huawei as cloud partner alongside AWS and Google in our Azerion multi-cloud setup reducing our reliance on single cloud vendors and decreasing our total cost of ownership.
    • Migration of Eniro to the Azerion multi-cloud bringing them higher quality, lower latency service and annual cost savings of over € 1.5 million once fully implemented.
    • Deployed our latest version of AI enhanced creative performance benchmark and outcome intelligence tools helping our advertisers and our operators to better understand which ads work best for various audiences in different circumstances and allowing for machine optimisation of campaigns.

    1 (excluding the divested social card games portfolio)

    Selected KPIs

    Financial Results – Azerion Group N.V.

    in millions of €

      Q4 2024 Q4 2023 Growth FY 2024 FY 2023 Growth
                 
    Platform Segment            
    Advertising Platform 126.3 126.0 0% 412.3 348.6 18%
    AAA Game Distribution (e-commerce) 26.9 31.7 (15)% 85.0 88.8 (4)%
    Revenue 153.2 157.7 (3)% 497.3 437.4 14%
    Operating profit / (loss) 7.2 5.6 29% (1.7) (2.0) (15)%
    Adj. EBITDA 26.2 22.8 15% 62.4 53.2 17%
                 
    Premium Games Segment1)            
    Revenue  14.8 14.1 5% 53.9 77.6 (31)%
    Operating profit / (loss) (0.1) 0.5 (120)% (0.7) 74.8 (101)%
    Adj EBITDA 3.9 3.6 8% 12.7 18.7 (32)%
                 
    Group (excluding social card games)            
    Revenue 168.0 171.8 (2)% 551.2 486.7 13%
    Operating profit / (loss)  7.1 6.1 16% (2.4) (8.2) (71)%
    Adj. EBITDA  30.1 26.4 14% 75.1 62.2 21%
                 
    Group (including social card games)            
    Revenue 168.0 171.8 (2)% 551.2 515.0 7%
    Operating profit / (loss)  7.1 6.1 16% (2.4) 72.8 (103)%
    Adj. EBITDA 30.1 26.4 14% 75.1 71.9 5%

    1)2023 figures for Premium Games contain results of the social cards game portfolio that was divested in Q3 2023. For detailed split of Premium Games results please refer to respective section below.

      Q4 2024 Q4 2023   FY 2024 FY 2023  
    Adj. EBITDA Margin %            
    Platform 17% 15%   13% 12%  
    Premium Games 26% 26%   24% 24%  
    Group (excluding social card games) 18% 15%   14% 13%  
    Group 18% 15%   14% 14%  

    Message from the CEO 

    Q4 was a strong quarter for us, marked by a clear focus on profitability. By maintaining operational discipline and executing on our strategic priorities, we successfully met our full-year 2024 guidance. This achievement reflects our commitment to sustainable growth and value creation for our shareholders.Throughout the year, we have dedicated significant time and resources to building an ecosystem that truly supports European publishers. Our platform empowers them to create engaging content, monetize effectively, and manage their resources with greater predictability. By fostering a high-performance environment, we are enabling European publishers to thrive in an increasingly competitive digital landscape by giving them a truly European choice.

    Looking ahead, we continue to see AI as a major opportunity to drive further innovation and efficiency. Managing over 250,000 auctions per second gives us a unique vantage point to leverage data at scale. We have developed generative AI advertising solutions that enhance campaign performance, while our latest AI-powered creative performance benchmarks and outcome intelligence tools are delivering valuable insights to our partners. These advancements position us at the forefront of AI-driven advertising, helping our customers achieve better results with greater precision thanks to a long history of machine learning at the core of our platform.

    At the same time, we also see an increasing number of opportunities to accelerate our growth through strategic partnerships and acquisitions. We have built a strong pipeline of actionable opportunities and are well-positioned to execute on them. Stay tuned to hear more about our expansion through partnerships throughout this year, alongside the continued deployment of our AI platform.

    – Umut Akpinar

    Financial overview

    Revenue

    Q4 2024

    Revenue for the quarter amounted to € 168.0 million, down (2.2)% from € 171.8 million in Q4 2023, mainly driven by lower consumer spending in AAA game distribution. 

    FY 2024

    Revenue for FY 2024 amounted to € 551.2 million, up 13.3% from € 486.7 million in FY 2023 excluding the social card games portfolio divested in Q3 2023, mainly driven by higher advertising spend across the Platform Segment, particularly in Direct Sales and the integration of past acquisitions. 

    Revenue was up 7.0% from € 515.0 million in FY 2023 including the revenue from the social card games portfolio of € 28.3 million in FY 2023.

    Earnings 

    Q4 2024

    Adjusted EBITDA for the quarter was € 30.1 million compared to € 26.4 million in Q4 2023, an increase of 14.0% driven by improved performance in both Platform and Premium Games segments. Platform increase was largely due to the mix of Advertising Platform Revenue, increased share of Direct Sales and an increasingly efficient delivery operation. The Premium Games result was driven by the ongoing strong performance of Habbo Hotel Origins and product development across social casino and other metaverse titles, as well as further consolidation and integration efforts resulting in improved operational performance.

    The operating profit for the quarter amounted to € 7.1 million, compared to a profit of € 6.1 million in Q4 2023, mainly due to the successful integration of acquisitions and the subsequent synergies and cost reductions that were realised in the Platform segment.

    FY 2024

    Adjusted EBITDA in FY 2024 was € 75.1 million compared to € 62.2 million in FY 2023 excluding the divested social card games portfolio, an increase of 20.7% driven by higher advertising spend across the Platform Segment and improved performance of Premium Games, specifically metaverse titles due to the release and ongoing strong performance of Habbo Hotel Origins and product development across the social casino titles, plus efficiencies from the integration of previous acquisitions.. 

    Adjusted EBITDA in FY 2024 was up 4.5% from € 71.9 million in FY 2023 including the contribution from the social card games portfolio of € 9.7 million in FY 2023.

    The operating loss in FY 2024 amounted to € (2.4) million, compared to € (8.2) million in FY 2023 (excluding gain on the sale and the result of the social card games portfolio of € 81.0 million), driven by increased Platform revenue and contribution from Direct sales, improved performance of Premium Games, specifically metaverse titles due to the release and ongoing success of Habbo Hotel Origins and product development across the social casino titles plus efficiencies from optimisation and consolidation efforts, and notwithstanding the one-off increase in operating expenses related to the settlement of a commercial dispute and renegotiation of contingent consideration terms for one of the acquisitions.

    Cash flow

    Q4 2024

    Cash flow from operating activities in Q4 2024 was an inflow of € 10.0 million, mainly due to strong operating profit after cancellation of non-cash items of € 22.5 million, offset by movements in net working capital reflecting an increase in trade and other payables of € 4.9 million and an increase in trade and other receivables of € (7.6) million, net € (8.3) million paid in interest and € (1.2) million paid in income tax. 

    Cash flow from investing activities was an outflow of € (18.2) million, due to payments for tangible and intangible assets of € (6.5) million and net cash outflow on acquisition of subsidiaries of € (11.7) million. 

    Cash flow from financing activities was an inflow of € 31.5 million, mainly due to net proceeds in the amount of € 34.5 million (net of transaction costs) from additional bonds placed under the existing Senior Secured Callable Floating Rate Bond framework offset by repayments of external borrowings and the principal portion of lease liabilities amounting in total to € (3.0) million.

    FY 2024

    Cash flow from operating activities in FY 2024 was an inflow of € 7.0 million, mainly due to strong operating profit after cancellation of non-cash items of € 52.6 million, offset by movements in net working capital reflecting a decrease in trade and other payables of € (32.5) million and a decrease in trade and other receivables of € 19.9 million, utilisation of provisions of € (3.1) million, net € (25.7) million paid on interest and € (4.2) million paid in income tax. 

    Cash flow from investing activities was an outflow of € (36.8) million, mainly due to payments for tangible and intangible assets of € (20.8) million and net cash outflow on acquisition of subsidiaries of € (27.7) million, partly offset by the receipt of net deferred consideration for the sale of social card games portfolio in amount of € 11.2 million. 

    Cash flow from financing activities was an inflow of € 80.9 million, mainly due to net proceeds in the amount of € 92.1 million (net of transaction costs), consisting of € 82.7 million from additional bonds placed under the existing Senior Secured Callable Floating Rate Bond framework and a Revolving Credit Facility of € 9.4 million, offset by repayments of external borrowings and the principal portion of lease liabilities amounting in total to € (11.0) million.

    Capex

    Azerion capitalises development costs related to the internal development of assets, a core activity to support innovation in its platform. These costs primarily relate to developers’ time devoted to the development of the platform, games and other new features. In Q4 2024 Azerion capitalised € 4.8 million, equivalent to 19.2% (Q4 2023: € 3.4 million, equivalent to 12.4%) of gross personnel costs excluding restructuring provision expense. In FY 2024 Azerion capitalised € 16.2 million, equivalent to 16.0% (FY 2023: € 17.5 million, equivalent of 16.2%) of gross personnel costs excluding restructuring provision expense.

    Financial position and borrowing 

    Net interest-bearing debt*) amounted to € 203.8 million as at 31 December 2024, mainly comprising the outstanding bond loan with a nominal value of € 265 million (part of a total € 300 million framework) and lease liabilities with a balance of € 19.4 million less the cash and cash equivalents position of € 90.6 million.

    *)As defined in the Terms & Conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657. Please also refer to the Definitions section and the notes of this Interim Report for more information.

    Platform Segment

    Our Platform segment includes our digital advertising activities, AAA Game Distribution (formerly referred to as e-commerce), Casual Game Distribution (being the operation and distribution of casual games) and Azerion Sports. The Platform segment generates Revenue mainly by displaying digital advertisements in both game and general content, as well as selling and distributing AAA games. Advertisers are serviced through two models: i) Direct sales, which involve a direct engagement between Azerion’s commercial teams and advertisers or their agencies in the placement of digital advertisements, and ii) Automated auction sales in which advertising inventory is purchased through the open market. Platform is also integrated with parts of our Premium Games segment, leveraging inter-segment synergies.

    Selected business highlights in Q4 2024 include:

    • Azerion rated as the leading advertising network in France by Médiamétrie in collaboration with NetRatings.
    • 90 new publishers signed and launched including tuttocampo.it and allermedia.se providing greater reach for digital advertising.
    • Eniro has deployed our Full Monetisation Solution which we are continuing to roll out across all our regions, including Italy in Q4 2024.
    • Azerion Intelligence launched enabling new demographic segments in the Azerion DMP.
    • Azerion DMP is now integrated with Magnite and OpenX SSPs and our audiences for CTV are available via Pubmatic SSP.
    • Launched Smart AI Curation in the Azerion Marketplace further improving the ability to create custom audiences.
    • Azerion Casual Games Distribution expanded its reach in Q4 by onboarding 40 new publishers, including third-party channels such as Samsung Instant Plays. By the end of the quarter, its casual games portfolio exceeded 21,000 titles, demonstrating steady year-over-year growth

    Platform – Selected Financial KPIs

    Financial results – Platform

    In millions of €

      Q4 2024 Q4 2023 FY 2024 FY 2023
    Advertising Platform 126.3 126.0 412.3 348.6
    AAA Game Distribution (formerly e-commerce) 26.9 31.7 85.0 88.8
    Total Revenue 153.2 157.7 497.3 437.4
    Operating profit / (loss) 7.2 5.6 (1.7) (2.0)
    Adj. EBITDA 26.2 22.8 62.4 53.2
             
    Revenue growth % – Advertising Platform 0.2%   18.3%  
    Revenue growth % – AAA Game Distribution  (15.1%)   (4.3%)  
    Total Revenue growth % (2.9%)   13.7%  
    Adjusted EBITDA growth / (decrease) % 14.9%   17.3%  
    Adjusted EBITDA margin % 17.1% 14.5% 12.5% 12.2%

    Total Platform Revenue of € 153.2 million in Q4 2024, compared to € 157.7 million in Q4 2023, a decrease of (2.9)% mainly due to lower revenues in our AAA Game distribution. Total Platform Revenue of € 497.3 million in FY 2024, an increase of 13.7% compared to € 437.4 million in FY 2023, mainly due to growth in advertising revenue from Direct sales.

    Advertising Platform Revenue of € 126.3 million in Q4 2024, almost flat compared to the € 126.0 million in Q4 2023, mostly the result of an offset between growth in the direct business and the integration of revenues from acquired businesses. In Q4 2024, Azerion’s Direct sales contributed approximately 70% of Platform advertising revenue, with the balance provided by Automated auction sales. FY 2024 Advertising Platform Revenue came to € 412.3 million, up 18.3% compared to € 348.6 m in 2023.

    In Q4 2024, AAA Game Distribution generated Revenue of € 26.9 million as compared to € 31.7 million in Q4 2023, a decrease of approximately (15.1)% due to fewer high-profile AAA game releases in Q4 2024 (for example Concord™ by PlayStation didn’t get the consumer traction Sony expected and was subsequently pulled from 3rd party distribution) and optimising towards profitability rather than revenue which meant that the business sold smaller but higher margin titles.  In Q4 2024, AAA Game Distribution Revenue represented 17.6% of total Platform Revenue, as compared to 20.1% in Q4 2023. 

    Total Platform Operating Profit of € 7.2 million in Q4 2024, compared to € 5.6 million in Q4 2023, a significant increase of 28.6% largely due to the successful integration of acquisitions and the subsequent synergies and cost reductions that were realised. Total Platform Operating Loss of € (1.7) million in FY 2024, compared to € (2.0) million in FY 2023, an improvement largely due the aforementioned results of our efforts to integrate acquisitions, create synergies and reduce costs throughout the year. 

    Total Platform Adjusted EBITDA of € 26.2 million in Q4 2024, compared to € 22.8 million in Q4 2023, an increase of 14.9% largely due to the mix of Advertising Platform Revenue, increased share of Direct Sales and an increasingly efficient delivery operation. Total Platform Adjusted EBITDA of € 62.4 million in FY 2024, compared to € 53.2 million in FY 2023, an increase of 17.3% mainly as a result of growth in advertising revenue from Direct sales and the integration of previous acquisitions.

    Advertising – Selected Operational KPIs

    Advertising – Operational KPIs

      Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
    Avg. Digital Ads Sold per Month (bn) 13.9 11.9 12.1 12.6 14.1
    Avg. Gross Revenue per Million Processed Ad Requests across the Azerion Platform (EUR)1) 34.5 25.4 29.0 23.4 24.3

    1)Average gross revenue per million processed ad requests across Azerion Platform is calculated by dividing gross advertising revenue (processed by Azerion’s advertising auction and monetisation platforms) by a million advertisement requests processed by Azerion’s advertising auction and monetisation platforms.

    Note: Both Advertising Operational KPIs now include data relating to the Hawk acquisition as of Q4 2023.

    The Average Digital Ads sold per Month increased to 14.1 billion in Q4 2024 from 13.9 billion in Q4 2023, an increase of 1.4%, reflecting the Platform’s demand side growth due to the integration of past acquisitions and the consolidation of Azerion’s monetisation technology into a single scalable media buying platform. 

    The Average Gross Revenue per Million Processed Ad Requests across the Azerion Platform in Q4 2024 was € 24.3, compared to € 34.5 in Q4 2023, a decline year on year as we onboarded several high volume but relatively low revenue publishing partners in Q4 2024.   

    Premium Games Segment

    Since the end of Q3 2023, the Premium Games segment has consisted of social casino games and metaverse games. Azerion completed the sale of its social card games portfolio to Playtika Holding Corp. on 28 August 2023 and its contribution to the Premium Games segment ceased at that date. The segment generates revenue mainly by offering users the ability to make in-game purchases for extra features and virtual goods to enhance their gameplay experience. This segment aims to stimulate social interaction among players and build communities, offering an extended value proposition to advertisers and generating cross-selling opportunities with the Platform segment. 

    Selected Q4 2024 business highlights

    • Habbo Origins revenue has continued to progress several months after its release demonstrating solid long term potential and we have released new features such as Boom, a new game within Habbo Origins, which is intended to increase user engagement.
    • ⁠New releases and packages for players of our Social Casino games such as dynamic bet sizes, bet roulette and Holiday themed collections.

    Premium Games – Selected Financial KPIs

    Financial results – Premium Games

    In millions of € 

      Q4 2024 Q4 2023 FY 2024 FY 2023
    Revenue (excluding social card games) 14.8 14.1 53.9 49.3
    Social card games portfolio – – – 28.3
    Total Revenue 14.8 14.1 53.9 77.6
    Operating profit / (loss) (excluding social card games) (0.1) 0.5 (0.7) (6.2)
    Social card games portfolio – – – 81.0
    Total Operating profit / (loss) (0.1) 0.5 (0.7) 74.8
    Adjusted EBITDA (excluding social card games) 3.9 3.6 12.7 9.0
    Social card games portfolio – – – 9.7
    Total Adjusted EBITDA 3.9 3.6 12.7 18.7
             
    Revenue growth % (excluding social card games) 5.0% – 9.3% –
    Adjusted EBITDA growth % (excluding social card games) 8.3% – 41.1% –
    Adjusted EBITDA margin % (excluding social card games) 26.4% 25.5% 23.6% 18.3%

    Revenue of € 14.8 million in Q4 2024, as compared to € 14.1 million in Q4 2023, an increase of 5.0%, mainly driven by the increased number of paying users in metaverse titles due to the ongoing strong performance of Habbo Hotel Origins combined with new Social Casinos sale features, improved discount strategies and increased partner user acquisition spend. Revenue was € 53.9 million in FY 2024, as compared to € 49.3 million in FY 2023 (excluding social card games), an increase of 9.3%, driven by social casino and metaverse performance and the factors previously described for Q4 2024, partly offset by the sale of Woozworld at the start of January 2024 (totaling € 1.7 million Revenue in FY 2023).

    Adjusted EBITDA of € 3.9 million in Q4 2024, compared to € 3.6 million in Q4 2023, an increase of 8.3%, mainly driven by improved performance from metaverse titles due to the ongoing strong performance of Habbo Hotel Origins, consolidation and integration efforts resulting in improved operational performance and product development across the social casino and other metaverse titles. Adjusted EBITDA of € 12.7 million in FY 2024, as compared to € 9.0 million (excluding social card games), an increase of 41.1% compared to FY 2023 reflecting the increased performance of our metaverse titles due to the launch of Habbo Hotel origins, consolidation and integration efforts resulting in improved operational performance and product development across the social casino and other metaverse titles offset by the shift in new user generation to mobile in Azerion’s social casino environment which has higher growth potential over time, but also higher transaction costs as compared to web.

    Operating Loss of € (0.1) million in Q4 2024, compared to Operating Profit of € 0.5 million in Q4 2023, mainly driven by end of year adjustments in depreciation and amortisation.

    Operating Loss of € (0.7) million in FY 2024, compared to € (6.2) million in FY 2023 (excluding social card games), an improvement once again reflecting the developments described for Adjusted EBITDA above.

    Premium Games – Selected Operational KPIs

    Premium Games – Operational KPIs

      Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
    Avg. Time in Game per Day (min) 95.0 87.0 81.0 84.7 89.3
    Avg. DAUs (thousands) 255.4 251.2 252.9 239.4 227.4
    Avg. ARPDAU (EUR) 0.47 0.42 0.53 0.57 0.59
    • The Average Time in Game per Day (min) decreased by (6)% in Q4 2024 to 89.3 minutes per day as compared to 95.0 minutes per day in Q4 2023 due to slightly shorter average game time in the newly released Habbo Origins title compared with the rest of the metaverse games.
    • The Average Daily Active Users (DAUs) decreased by (11)% in Q4 2024 to 227.4 compared to Q4 2023 of 255.4, mainly due to lower user acquisition spend and increased focus on greater engagement with higher paying users.  
    • The Average Revenue per Daily Active User (ARPDAU) increased by 26% in Q4 2024 to € 0.59 compared to Q4 2023 of € 0.47, driven by improved in-game sales mechanics in social casino, features and events. 

    Outlook

    With our Full Year 2024 Net Revenue at € 551 million, the closing of several partnerships in the last months of the year, our subsequent bond issue in December, and the opportunities we see for the coming year, our Full Year 2025 Net Revenue is expected to be in the range of approximately € 600 million to € 650 million, with annual growth thereafter in the medium term expected to be approximately 10%. 

    Adjusted EBITDA for full year 2025 is expected to be at least approximately € 85 million, with annual Adjusted EBITDA margin thereafter in the medium term expected to be in the range of approximately 14% to 16% through further integrations, synergies and scale effects.

    Other information

    Interest-bearing debt

    Interest-bearing debt

    in millions of €

      31 December 2024 31 December 2023
    Total non-current indebtedness 268.7 172.0
    Total current indebtedness 25.9 12.6
    Total financial indebtedness 294.6 184.6
    Deduct Zero interest-bearing loans (0.2) (0.1)
    Interest-bearing debt 294.4 184.5
    Less: Cash and cash equivalents (90.6) (40.3)
    Net Interest-bearing debt (Bond terms) 203.8 144.2

    References to bond terms in the table above refer to the terms as defined in the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657

    Reconciliation of Profit / (loss) for the period to Adjusted EBITDA  

    Reconciliation of Profit / (loss) for the period to Adjusted EBITDA – Q4

    in millions of €

      Q4
      2024 2023
      Azerion Group Premium Games Platform Other Azerion Group Premium Games Platform Other
    Profit / (loss) for the period 3.3       (7.2)      
    Income Tax expense (6.7)       (2.4)      
    Profit / (loss) before tax (3.4)       (9.6)      
    Net finance costs 11.0       15.7      
    Share in profit/(loss) of associate (0.5)       –      
    Operating profit / (loss) 7.1 (0.1) 7.2 – 6.1 0.5 5.6 –
    Depreciation & Amortisation 15.5 3.6 11.9 – 13.9 3.3 10.6 –
    Share in profit/(loss) of associate 0.5 – 0.5 – – – – –
    Other 4.1 1.2 2.9 – 1.7 (0.2) 1.9 –
    Acquisition expenses1) 2.8 (0.9) 3.7 – 3.9 (0.1) 4.0 –
    Restructuring 0.1 0.1 – – 0.8 0.1 0.7 –
    Adjusted EBITDA 30.1 3.9 26.2 – 26.4 3.6 22.8 –

    1)In the past, all changes to the fair value of liabilities for contingent considerations were adjusted out of EBITDA on the basis that these impacts were acquisition related. Management has decided to cease these adjustments where the consideration is contingent upon the achievement of financial targets, because these changes in fair value are offsetting opposite movements already included in the operational performance of the acquired entity. This change has been applied prospectively. 

    Reconciliation of Profit / (loss) for the period to Adjusted EBITDA – FY

    in millions of €

      FY
      2024 2023
      Azerion Group Premium Games Platform Other Azerion Group Premium Games Platform Other
    Profit / (loss) for the period (35.4)       25.1      
    Income Tax expense (6.0)       19.0      
    Profit / (loss) before tax (41.4)       44.1      
    Net finance costs 39.5       28.7      
    Share in profit/(loss) of associate (0.5)       –      
    Operating profit / (loss) (2.4) (0.7) (1.7) – 72.8 74.8 (2.0) –
    Depreciation & Amortisation 47.8 11.5 36.3 – 46.4 12.9 33.5 –
    Share in profit/(loss) of associate 0.5 – 0.5 – – – – –
    Social card games portfolio – – – – (72.6) (72.6) – –
    Other 5.7 1.5 4.2 – 3.2 0.7 2.5 –
    Acquisition expenses1) 22.2 – 22.2 – 14.4 1.1 13.3 –
    Restructuring 1.3 0.4 0.9 – 7.7 1.8 5.9 –
    Adjusted EBITDA 75.1 12.7 62.4 – 71.9 18.7 53.2 –

    1)In the past, all changes to the fair value of liabilities for contingent considerations were adjusted out of EBITDA on the basis that these impacts were acquisition related. Management has decided to cease these adjustments where the consideration is contingent upon the achievement of financial targets, because these changes in fair value are offsetting opposite movements already included in the operational performance of the acquired entity. This change has been applied prospectively. 

    Additional notes:

    Acquisition expenses for FY 2024 include € 7.7 million relating to:

    • € 4.8 million in Q2 2024 on one-off settlement of a commercial dispute and contingent consideration fair value loss (non-operational performance target) relating to a previous acquisition 
    • € 2.9 million in Q3 2024 on renegotiation of contingent consideration terms for one of the acquisitions.

    Operating expenses

    Breakdown of Operating expenses

    in millions of €

      Q4 FY
    2024 2023 2024 2023
    Personnel costs (20.2) (24.9) (86.2) (98.5)
    Includes:        
    Restructuring related expenses (0.1) (0.8) (1.3) (7.7)
    Acquisition related one-off items – – (1.7) –
             
    Other expenses (12.5) (8.7) (40.7) (37.3)
    Includes:        
    One-off settlement expenses – – (3.0) –
             
    Operating expenses (32.7) (33.6) (126.9) (135.8)

    Condensed consolidated statement of profit or loss and other comprehensive income

    Condensed consolidated statement of profit or loss and other comprehensive income

    In millions of €

      Q4 FY
      2024 2023 2024 2023
    Revenue 168.0 171.8 551.2 515.0
    Costs of services and materials (112.4) (117.9) (377.4) (332.3)
    Personnel costs (20.2) (24.9) (86.2) (98.5)
    Depreciation (3.0) (2.2) (9.0) (8.1)
    Amortisation (12.5) (11.7) (38.8) (38.3)
    Other gains and losses1) (0.3) (0.3) (1.5) 72.3
    Other expenses (12.5) (8.7) (40.7) (37.3)
    Operating profit / (loss) 7.1 6.1 (2.4) 72.8
             
    Finance income 3.1 1.0 7.0 8.5
    Finance costs (14.1) (16.7) (46.5) (37.2)
    Net Finance costs (11.0) (15.7) (39.5) (28.7)
             
    Share in profit/(loss) of associate 0.5 – 0.5 –
             
    Profit / (loss) before tax (3.4) (9.6) (41.4) 44.1
    Income tax expense 6.7 2.4 6.0 (19.0)
    Profit / (loss) for the period 3.3 (7.2) (35.4) 25.1
             
    Attributable to:        
    Owners of the company 3.3 (7.9) (36.7) 23.7
    Non-controlling interest – 0.7 1.3 1.4
             
    Exchange difference on translation of foreign operations (0.3) (0.3) 1.0 (0.6)
    Financial assets fair value through OCI 0.0 – (0.8) –
    Total other comprehensive income (0.3) (0.3) 0.2 (0.6)
    Total comprehensive income/(loss) 3.0 (7.5) (35.2) 24.5
             
    Attributable to:        
    Owners of the company 3.0 (8.2) (36.5) 23.1
    Non-controlling interest – 0.7 1.3 1.4

    1)Earn-out results have been reclassified from Other expenses to Other gains and losses

    Condensed consolidated statement of financial position

    Condensed consolidated statement of financial position

    in millions of €

      31 December 2024 31 December 2023
    Assets    
    Non-current assets 409.2 413.6
    Property, plant and equipment 24.3 17.0
    Goodwill 192.6 187.1
    Intangible assets 167.0 176.3
    Non-current financial assets 4.9 30.8
    Deferred tax asset 7.6 2.3
    Investment in joint venture and associate 12.8 0.1
         
    Current assets 299.6 238.4
    Trade and other receivables 208.4 196.7
    Current tax assets 0.6 1.4
    Cash and cash equivalents 90.6 40.3
    Total assets 708.8 652.0
         
    Equity    
    Share capital 1.2 1.2
    Share premium 143.6 140.2
    Legal reserve 33.2 27.7
    Share based payment reserve 12.6 12.7
    Currency translation reserve (1.0) (1.9)
    Fair value through OCI (0.8) –
    Retained earnings (117.1) (75.6)
    Shareholders’ equity 71.7 104.3
    Non-controlling interest 6.2 5.3
    Total equity 77.9 109.6
         
    Liabilities    
    Non-current liabilities 310.9 220.1
    Borrowings 256.0 161.9
    Lease liabilities 12.7 10.1
    Provisions 1.6 1.6
    Deferred tax liability 25.3 30.0
    Other non-current liability 15.3 16.5
         
    Current liabilities 320.0 322.3
    Borrowings 19.2 8.4
    Provisions 2.2 3.6
    Trade payables 136.9 142.0
    Accrued liabilities 97.5 112.7
    Current tax liabilities 14.0 13.4
    Lease liabilities 6.7 4.2
    Other current liabilities 43.5 38.0
    Total liabilities 630.9 542.4
    Total equity and liabilities 708.8 652.0

    Condensed consolidated statement of cash flow

    Condensed consolidated statement of cash flow

    In millions of €

      Q4 Q4 FY FY
      2024 2023 2024 2023
    Cash flows from operating activities        
    Operating profit / (loss) 7.1 6.1 (2.4) 72.8
    Adjustments for operating profit / (loss):        
    Depreciation and amortisation & Impairments 15.5 13.9 47.8 46.4
    Movements in provisions per profit and loss (0.1) 0.9 1.1 8.8
    Gain on sale of social card game portfolio – – – (72.6)
    Loss on sale of subsidiaries – 0.1 – 0.1
    Share-based payments expense – 0.1 0.4 0.8
    Adjustment for acquisitions and disposals presented under investing activities – – 5.7 (2.9)
             
    Changes in working capital items:         
    (Increase)/Decrease in trade and other receivables (7.6) (6.4) 19.9 12.2
    Increase (decrease) in trade payables and other payables 4.9 25.0 (32.5) 14.8
             
    Utilisation of provisions (0.3) (3.1) (3.1) (9.9)
    Interest received 0.2 0.3 1.1 0.3
    Interest paid (8.5) (3.2) (26.8) (17.2)
    Income tax paid (1.2) (2.7) (4.2) (3.7)
    Net cash provided by (used for) operating activities 10.0 31.0 7.0 49.9
             
    Cash flows from investing activities        
    Payments for property, plant and equipment (0.3) (0.1) (0.8) (1.5)
    Payments for intangibles (6.2) (3.7) (20.0) (23.3)
    Net cash outflow on acquisition of subsidiaries (11.7) (10.8) (27.7) (43.9)
    Net cash inflow/(outflow) from sale of business – – 11.2 66.0
    Distributions from equity method investees – – 0.5 –
    Net cash outflow on acquisition of securities and equity investments – – – (2.6)
    Net cash provided by (used for) investing activities (18.2) (14.6) (36.8) (5.3)
             
    Cash flows from financing activities        
    Proceeds from external borrowings 34.5 162.6 92.1 163.1
    Repayment of external borrowings (0.1) (200.7) (3.3) (204.3)
    Payment of principal portion of lease liabilities (2.9) (1.8) (7.7) (6.8)
    Early cancelation of lease liability – – – (1.5)
    Dividends paid to shareholders of non-controlling interests – – (0.2) (0.4)
    Costs related to the issuance of new bond – (3.5) – (3.5)
    Fees and costs related to the redemption of the old bond – (1.5) – (1.5)
    Other inflows (outflows) from financing activities – (0.5) – (0.5)
    Net cash provided by (used for) financing activities 31.5 (45.4) 80.9 (55.4)
             
    Net increase/(decrease) in cash and cash equivalents 23.3 (29.0) 51.1 (10.8)
    Effect of changes in exchange rates on cash and cash equivalents (1.0) 0.1 (0.8) 0.2
    Cash and cash equivalents at the beginning of the period 68.3 69.2 40.3 50.9
    Cash and cash equivalents at the end of the period 90.6 40.3 90.6 40.3

    Definitions

    Adjusted EBITDA represents Operating Profit / (Loss) excluding depreciation, amortisation, impairment of non-current assets, restructuring and acquisition related expenses and other items at management discretion, principally those assessed as extraordinary items or non-recurring items which are not in line with the ordinary course of business.

    Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of Revenue.

    Average gross revenue per million processed ad requests across Azerion Platform is calculated by dividing gross advertising revenue (processed by Azerion’s advertising auction and monetisation platforms) by a million advertisement requests processed by Azerion’s advertising  auction and monetisation platforms.

    Average time in game per day measures how many minutes per day, on average, the players of Premium Games spend in the games. This demonstrates their engagement with the games, which generates more opportunities to grow the ARPDAU.

    Average DAUs represents average daily active users, which is the number of distinct users per day averaged across the relevant period.

    ARPDAU represents Average Revenue per Daily Active User, which is revenue per period divided by days in the period divided by average daily active users in that period and represents average per user in-game purchases for the period.

    Financial Indebtedness represents as defined in the terms and conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657 any indebtedness in respect of:

    • monies borrowed or raised, including Market Loans;
    • the amount of any liability in respect of any Finance Leases;
    • receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis);
    • any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing;
    • any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the mark to market value shall be taken into account, provided that if any actual amount is due as a result of a termination or a close-out, such amount shall be used instead);
    • any counter indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or financial institution; and
    • (without double counting) any guarantee or other assurance against financial loss in respect of a type referred to in the above paragraphs (1)-(6).

    Net Interest-bearing debt as defined in the terms and conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657 means the aggregate interest-bearing Financial Indebtedness less cash and cash equivalents (including any cash from a Subsequent Bond Issue standing to the credit on the Proceeds Account or another escrow arrangement for the benefit of the Bondholders) of the Group in accordance with the Accounting Principles (for the avoidance of doubt, excluding any Bonds owned by the Issuer, guarantees, bank guarantees, Subordinated Loans, any claims subordinated pursuant to a subordination agreement on terms and conditions satisfactory to the Agent and interest-bearing Financial Indebtedness borrowed from any Group Company) as such terms are defined in the terms and conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657.

    Operating expenses are defined as the aggregate of personnel costs and other expenses as reported in the statement of profit or loss and other comprehensive income. More details on the reporting of cost by nature can be found in the published annual financial statements of 2023.

    Operating Profit / (Loss) represents revenue less costs of services and materials, operating expenses, depreciation and amortisation and other gains and losses.

    Disclaimer and Cautionary Statements

    This communication contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    This communication may include forward-looking statements. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Azerion to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. Words and expressions such as aims, ambition, anticipates, believes, could, estimates, expects, goals, intends, may, milestones, objectives, outlook, plans, projects, risks, schedules, seeks, should, target, will or other similar words or expressions are typically used to identify forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks, uncertainties and other factors that are difficult to predict and that could cause the actual results, performance or events to differ materially from future results expressed or implied by such forward-looking statements contained in this communication. Readers should not place undue reliance on forward-looking statements.

    Any forward-looking statements reflect Azerion’s current views and assumptions based on information currently available to Azerion’s management. Forward-looking statements speak only as of the date they are made and Azerion does not assume any obligation to update or revise such statements as a result of new information, future events or other information, except as required by law.

    The interim financial results of Azerion Group N.V. as included in this communication are required to be disclosed pursuant to the terms and conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657.

    This report has not been reviewed or audited by Azerion’s external auditor.

    Certain financial data included in this communication consist of alternative performance measures (“non-IFRS financial measures”), including Adjusted EBITDA. The non-IFRS financial measures, along with comparable IFRS measures, are used by Azerion’s management to evaluate the business performance and are useful to investors. They may not be comparable to similarly titled measures as presented by other companies, nor should they be considered as an alternative to the historical financial results or other indicators of Azerion Group N.V.’s cash flow based on IFRS. Even though the non-IFRS financial measures are used by management to assess Azerion Group N.V.’s financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipients should not consider them in isolation or as a substitute for analysis of Azerion Group N.V.’s financial position or results of operations as reported under IFRS.

    For all definitions and reconciliations of non-IFRS financial measures please also refer to www.azerion.com/investors.

    This report may contain forward-looking non-IFRS financial measures. The Company is unable to provide a reconciliation of these forward-looking non-IFRS financial measures to the most comparable IFRS financial measures because certain information needed to reconcile those non-IFRS financial measures to the most comparable IFRS financial measures is dependent on future events some of which are outside the control of Azerion. Moreover, estimating such IFRS financial measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-IFRS financial measures in respect of future periods which cannot be reconciled to the most comparable IFRS financial measure are calculated in a manner which is consistent with the accounting policies applied in Azerion Group N.V.’s consolidated financial statements.

    This communication does not constitute an offer to sell, or a solicitation of an offer to buy, any securities or any other financial instruments.

    Contact

    Investor Relations: ir@azerion.comMedia relations: press@azerion.com 

    Attachment

    The MIL Network –

  • MIL-OSI USA: Ernst Unmasks Biden’s Green Energy Mandates, Fights for Transparency

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    WASHINGTON – Today, U.S. Senator Joni Ernst (R-Iowa), chair and founder of the Senate DOGE Caucus, blasted Washington’s overreach on the Senate floor, unmasking the Biden administration’s green energy agenda as a major driver behind the record-breaking 110,000 pages of regulations issued last year that hurt hardworking Americans.
    Ernst emphasized her Regulations Evaluated to Determine The Anticipated Price and Effect Act (RED TAPE Act) as the solution to hold rogue regulators accountable and prevent agencies from hiding how burdensome and expensive their regulations truly are.

    Watch Senator Ernst’s full remarks here.
    Ernst’s full remarks below:
    “Mr. President, for over a decade, I’ve led the charge to expose government abuses, curb reckless regulations, and protect hardworking taxpayers from Washington’s overreach.
    “As my colleagues have so rightly discussed, the very actions by the Biden administration made it necessary for President Trump to declare a National Energy Emergency on day one.
    “The Biden green energy programs artificially incentivized electric vehicles using billions of taxpayer dollars, with only 60 charging stations to show for it.
    “And folks, that’s just one of many energy-related billion-dollar boondoggles by the former administration.
    “As chair and founder of the Senate DOGE Caucus, I’m committed to preventing unchecked bureaucrats from issuing regulations that impose significant new costs and stifle growth.
    “Every day, DOGE is uncovering just how far the Biden administration went to conceal its reckless spending through the federal agencies, especially regarding their climate pet projects.
    “Instead of transparency and objective analysis, Biden’s bureaucrats relied on manipulation – inflated so called ‘net benefits’— and completely disregarded economic reality in their rulemakings. 
    “And they were prolific…churning out nearly 110,000 pages of regulations just last year, the highest number ever.
    “Between November 2023 and January 2025 alone, agencies issued 50 final rules using shady accounting gimmicks, slapping over half a trillion dollars in regulatory burdens onto hardworking Americans.
    “This included a relentless push to regulate truckers out of business, based on the audacious claim that its extreme emissions rules would somehow create $99 billion in benefits for society. 
    “But here’s the reality folks: these policies make everything more expensive for families, they kill jobs, and they hurt our small businesses.
    “And it doesn’t stop there.
    “The Department of Energy cited billions in so-called ‘climate net benefits’ and the ‘Social Cost of Greenhouse Gases’ to justify heavy-handed mandates, ignoring the very real costs passed on to farmers and manufacturers. 
    “For too long, unelected bureaucrats have ignored the voices of job creators and working families, pushing costly regulations while hiding the true impact.
    “This is why my RED TAPE Act is critical. My bill ensures agencies can no longer manipulate a cost-benefit analysis to push their own agenda.
    “It requires agencies to prioritize data-driven, measurable economic benefits, not vague, ideological justifications.
    “And while some federal employees complain about the new directives from the Trump administration, they should take a moment to understand that hardworking Americans who have had to show up to work and take risks to open businesses, will no longer tolerate having to foot the bill for regulatory overreach.
    “I am voting NO on this effort to end President Trump’s National Energy Emergency.
    “I support the President’s efforts to make energy more available and affordable to power economic growth.”

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Blumenthal, Senate Democrats Press HUD Secretary Turner On Threat Of Rising Housing Costs From Plan To Reprivatize Fannie Mae And Freddie Mac

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    February 26, 2025

    WASHINGTON—U.S Senators Chris Murphy (D-Conn) and Richard Blumenthal (D-Conn.) on Wednesday joined a group of eleven Senate Democrats in sending a letter pressing U.S. Secretary of Housing and Urban Development (HUD) Scott Turner on whether his plan to reprivatize Fannie Mae and Freddie Mac will make mortgages more expensive. Following his confirmation, Secretary Turner said he would act as “quarterback” in the Trump Administration’s plan to reprivatize the multi-trillion-dollar companies.

    “During your confirmation process, you repeatedly spoke of the desire to reduce housing costs, a goal we share. However, right out of the gate, you are actively advocating for policy changes that would likely raise housing costs for hardworking Americans,” the senators wrote.

    The senators continued: “Changes to the ownership of Fannie Mae and Freddie Mac would be a monumental undertaking that would affect our entire housing system and touch the lives of homeowners and renters across the country. If mismanaged, ending the conservatorships and Treasury’s role with Fannie Mae and Freddie Mac could make mortgages more expensive, cut off access to mortgage credit, destroy many of the important reforms made over the past 16 years, and compromise our entire housing market and the broader U.S. economy.”

    The senators also raised concerns that privatization could result in a taxpayer-funded giveaway worth billions for wealthy investors and hedge funds, quoting one investor’s optimism that “Trump and his team will get the job done.”

    They concluded: “Our housing finance system is a complex, multi-trillion-dollar market that touches the lives of every American family. It is critical that any effort to reprivatize Fannie Mac and Freddie Mac does not result in windfalls for wealthy investors while raising housing costs for American families. We look forward to your prompt and thorough reply on this urgent matter.”

    U.S. Senators Elizabeth Warren (D-Mass.), Chuck Schumer (D-N.Y.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Dick Durbin (D-Ill.), Andy Kim (D-N.J.), Jeff Merkley (D-Ore.), Jack Reed (D-R.I.), and Ron Wyden (D-Ore.) also signed the letter.

    Full text of the letter is available HERE and below:

    Dear Secretary Turner:

    We are writing with questions about your role in any effort to reprivatize the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) and requesting your commitment that any reprivatization process will not raise housing costs for American families. During your confirmation process, you repeatedly spoke of the desire to reduce housing costs, a goal we share. However, right out of the gate, you are actively advocating for policy changes that would likely raise housing costs for hardworking Americans. One of the first policy issues you addressed as Secretary, in an interview on the day you were sworn in, was privatizing Fannie Mae and Freddie Mac. You indicated that the Department of Housing and Urban Development (HUD) would be “one of” the “partners at the table” in the privatization effort and that you will serve as the “quarterback” in the process. You did not indicate who your additional partners would be in these discussions.

    Reprivatization of Fannie Mae and Freddie Mac threatens to raise the cost of mortgages and rent and make it even harder to access credit for purchasing a home. At a time when so many Americans are struggling with housing costs, we must ask why you are choosing as one of your first priorities a policy that only makes it harder for Americans to afford housing.

    Since 2008, when Fannie Mae and Freddie Mac (the Enterprises) experienced severe financial stress and needed a significant investment from taxpayers, the Treasury Department has held senior preferred shares and warrants to purchase 79.9% of common shares in the two companies. At the same time that Treasury made this investment, the Enterprises’ regulator, the Federal Housing Finance Agency (FHFA), placed them in conservatorship and began operating as both their regulator and conservator.

    In conservatorship, the Enterprises have made significant changes that have improved their operations to reduce risk and better serve homebuyers and renters, providing access to affordable mortgages for hardworking Americans across the country. This includes families who often go underserved in our housing system, including lower income families and people in rural areas.

    Changes to the ownership of Fannie Mae and Freddie Mac would be a monumental undertaking that would affect our entire housing system and touch the lives of homeowners and renters across the country. If mismanaged, ending the conservatorships and Treasury’s role with Fannie Mae and Freddie Mac could make mortgages more expensive, cut off access to mortgage credit, destroy many of the important reforms made over the past 16 years, and compromise our entire housing market and the broader U.S. economy. It could also generate billions of dollars for hedge funds and other wealthy investors in the Enterprises at taxpayers’ expense. One prominent hedge fund manager and investor in the Enterprises’ common shares has written that he sees “large asymmetric upside” in investments in the Enterprises because he believes there is a “credible path for their removal from conservatorship” and he expects that “Trump and his team will get the job done.”

    Given the enormous housing affordability threats posed by the privatization of Fannie Mae and Freddie Mac, we request that you respond to the following questions by March 12, 2025:

    1. Will HUD, and you as HUD Secretary, be the quarterback of any efforts to make changes to Fannie Mae and Freddie Mac? What specific responsibilities will you have in this role?
    2. If you help lead the process to end the conservatorships of Fannie Mae and Freddie Mac, do you commit to ensuring that any changes do not raise mortgage costs or make it more difficult to access mortgage credit for American homebuyers?
    3. Will you commit to ensuring that any changes to Fannie Mae and Freddie Mac will not result in higher rents for American families?
    4. You have said that “[t]here are partners that will be at the table” on efforts to reprivatize Fannie Mae and Freddie Mac, and that “[w]hen you’re a quarterback, you’ve got to work with the entire huddle.” What other partners will be at the table when discussing changes to Fannie Mae and Freddie Mac?
    5. HUD does not play a direct role in oversight of Fannie Mae and Freddie Mac, and recent public documents and agreements regarding the conservatorships and Treasury’s investments in the Enterprises have only involved the Treasury Department and FHFA. What authority does HUD have with respect to the Enterprises and their ongoing conservatorships?
    6. Will you commit to ensuring that hedge funds and other wealthy investors who stand to profit off of an end to the conservatorship or any changes to Treasury’s ownership stake in Fannie Mae and Freddie Mac do not have an opportunity to unduly influence potential changes to Fannie Mae or Freddie Mac?
    7. Will you commit to running a transparent and open process with regard to all meetings and deliberations over potential changes to Fannie Mae and Freddie Mac?
    8. Will you ensure that the Administration adheres to the public process outlined in the recent side letter agreement between Treasury and FHFA prior to taking any actions regarding the conservatorships or privatization of Fannie Mae and Freddie Mac?
    9. Will you work with all relevant agencies to conduct a thorough analysis of any housing market, mortgage cost, and financial stability impacts of any planned changes to the Enterprises prior to making any changes that would affect the Enterprises’ conservatorship status, Treasury’s ownership stake in the Enterprises, or taxpayers’ compensation for their investment in the Enterprises?

    Our housing finance system is a complex, multi-trillion-dollar market that touches the lives of every American family. It is critical that any effort to reprivatize Fannie Mac and Freddie Mac does not result in windfalls for wealthy investors while raising housing costs for American families. We look forward to your prompt and thorough reply on this urgent matter.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: West Virginia Delegation Applauds Disaster Declaration Approval Following Severe Storms

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito

    WASHINGTON, D.C. – U.S. Senators Shelley Moore Capito (R-W.Va.) and Jim Justice (R-W.Va.), as well as U.S. Reps. Carol Miller (W.Va.-01) and Riley Moore (W.Va.-02), applauded President Donald Trump’s approval for Individual Assistance in McDowell, Mercer, Mingo, and Wyoming counties. The Individual Assistance (IA) Program provides funds to individuals experiencing significant damage to homes or property.

    “We are grateful for the efforts and service of Governor Morrisey, our local leaders, neighbors, first responders, and the West Virginia National Guardsmen who sprang into action when these storms struck. The Trump administration’s approval of our state’s request for federal disaster aid is welcome news for communities in McDowell, Mercer, Mingo, and Wyoming counties as they work to recover and rebuild following these devastating storms, and we are glad that help will soon be on the way to southern West Virginia,” the lawmakers said. 

    Following the storms, the lawmakers sent a letter to the Trump administration in support of the state’s request for a major disaster declaration.

    Full text of the letter can be found here.

    MIL OSI USA News –

  • MIL-OSI: Bitget Wallet Introduces Smart Authorization Detection to Safeguard Assets

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 27, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has launched an upgraded authorization detection feature to give users greater control over their assets and enhance security. This upgrade allows users to review all past DApp and token approvals, identify potential risks, and revoke unsafe permissions with a single tap.

    At a time when security concerns are growing in the crypto space, Bitget Wallet reinforces its commitment to providing a safer, more transparent Web3 experience. Many users unknowingly grant excessive permissions that allow DApps to access their assets indefinitely, increasing security risks. Bitget Wallet’s enhanced tool helps users detect these risks by categorizing authorizations as Low, Medium, or High risk. Common high-risk approvals include unlimited token transfers, staking or withdrawal permissions, contract upgrade backdoors, and NFT transfer rights. By updating to version V8.29, users can access the “Approval Detection” feature from the wallet’s homepage to scan and revoke unnecessary or risky authorizations, reducing the chances of unauthorized asset movement.

    As a non-custodial wallet, Bitget Wallet ensures users have full control over their private keys, eliminating counterparty risks associated with centralized platforms. To enhance security, Bitget Wallet employs Multi-Party Computation (MPC) technology, which distributes private key shares across multiple entities, preventing single points of failure. Additionally, it integrates the Double Encryption Storage Mechanism (DESM) for an extra layer of private key protection. To further safeguard transactions, Bitget Wallet’s GetShield security engine continuously scans DApps, smart contracts, and websites, detecting phishing attacks, malicious addresses, and fraudulent contracts before users interact with them.

    Bitget Wallet also collaborates with leading security firms like CertiK, SlowMist, and GoPlus Security, ensuring comprehensive code audits, risk monitoring, and proactive threat detection. Beyond advanced security infrastructure, it offers financial protection through its industry-leading Protection Fund, initially established at $300 million and now valued at $625 million, backed by 6,500 BTC in onchain reserves. This fund serves as a safety net for users in the event of a platform-related security incident. By integrating robust security technology, proactive risk detection, and a transparent protection fund, Bitget Wallet delivers one of the most secure Web3 experiences available today.

    “The recent industry events highlight the importance of true self-custody and strong security measures,” said Alvin Kan, COO of Bitget Wallet. “Security has always been our top priority. We are committed to empowering users with full control over their assets while providing robust security tools and financial protection. With our upgraded authorization detection, MPC technology, and Protection Fund, we continue to set the standard for a safer and more resilient Web3 experience.”

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65645222-e7fe-472d-a62b-6e21f0a2717f

    The MIL Network –

  • MIL-Evening Report: Politics and property – how our leaders are among the privileged using legal loopholes to build their wealth

    Source: The Conversation (Au and NZ) – By Rod Campbell, Honorary fellow, Deakin University

    Not so long ago, former Liberal prime minister Malcolm Turnbull was branded “Mr Harbourside Mansion”, a moniker bestowed upon him by his own side of politics.

    Turnbull’s estimated A$200 million in wealth when he entered politics was well known. So too was the estimated $56 million in riches accrued outside of politics by Labor prime minister Kevin Rudd and his family.

    Not all politicians are multimillionaires like Turnbull and Rudd. But generally, they are wealthier than their constituents. They are also more likely to own more than one home.

    A recent ABC analysis of the parliamentary public interests register found 215 of Australia’s 227 members and senators own at least one property. 77 of them recorded interest in three or more properties.

    Out of touch pollies?

    Australians know their politicians tend to be richer than they are and sometimes it makes waves.

    Anthony Albanese’s purchase of a $4 million home on the New South Wales Central Coast dominated headlines for weeks, and it’s still being raised in focus and research groups as an issue with voters.

    Crucially, like Turnbull and Rudd’s wealth, Albanese’s cash splash on his coastal dream home has always been publicly available information.

    Veiled wealth

    But Opposition Leader Peter Dutton has mostly managed to skate by in the conversations about MPs and their money. He has kept the media’s focus on his brief career as a Queensland police officer, rather than the riches he has accrued through investing in property.

    While Dutton has not made a secret of his previous investments, and elements of his wealth have dripped into the public domain in the past, his affluence has rarely been discussed in whole terms. That changed this week with the Nine newspapers estimating his property investments at $30 million in transactions across 26 pieces of real estate.

    The portfolio, bought and sold over 35 years, eclipse Albanese’s property interests several times over.

    Dutton’s story highlights a tension that continues to frustrate voters: politicians who enjoy superior wealth are the ones who decide the financial circumstances of their constituents’ lives.

    Uncomfortable questions

    The stories highlighting Dutton’s prosperity have pointed out his past use of tax structures, including discretionary trusts, self-managed super funds and family companies to manage his money.

    Dutton has defended the millions he has made in property purchases. He’s accused his political rivals of mounting a “smear campaign” by trying to discredit him for being an “astute investor”.

    On the other side of politics, Albanese has refused to say if he used negative gearing before he became prime minister to reduce his tax bill.

    Exposing and debating the wealth of our leaders may be uncomfortable for them, but it’s an opportunity to push all sides of politics to address the aspects of our tax system that make it less fair.

    Tax loopholes for some

    The first thing to understand is that there are far fewer tax loopholes for avoiding tax on wages. If you work for a living, like most Australians, there are not many tax tricks for you.

    If you own assets and earn income from investments, however, things are a little different. How you own the assets is also important. Simply owning your own home is nice, but not as good as owning assets through a discretionary trust, a self-managed super fund, or a family company.

    Financial vehicles

    A discretionary trust is a way of holding income earning assets where the income stream can be split between beneficiaries. This means money can be directed to the people in the trust who face the lowest marginal tax rates, such as adult children, rather than a higher-earning parent, who faces a higher tax rate.

    The income earned from trusts overwhelmingly goes to high income earners. Treasury estimates (page 47) that the top 10% of income earners receive 63% of the income from trusts, while the bottom half of income earners get just 11% of the income.

    A self-managed super fund helps reduces taxation because of the various tax breaks for superannuation. For example, an owner might have their business in their self-managed super fund, with the income to the fund being taxed at a lower rate than it would have if it was owned in the business owner’s name.

    A family company, like trusts and self-managed super funds, is a vehicle for owning assets. If the assets are owned by a family company, then profits are subject to company tax rates. This can be as low as 25% if the company turnover is less than $50 million per year.

    All three of these asset-owning vehicles are entirely legal. And they can have legitimate uses. But they also provide tax loopholes that can be used to reduce the amount of tax someone has to pay and to obscure who actually owns the assets.

    Level the playing field

    This is fundamentally unfair. These structures for reducing tax are mostly only available to the wealthy. The average wage earner cannot structure their income through such complex tax structures.

    Scrapping the capital gains tax discount, getting rid of discretionary trusts, placing more limits on the types of assets that can be held in self-managed super funds, and increasing tax rates on people with big super balances would reduce the ability of the wealthy to avoid paying tax.

    It is hard to reform tax loopholes because most people don’t understand them and the people who do understand them reap the biggest benefits from them.

    The current discussion around Dutton’s investments might help more people become cognisant of these tax structures and how some of the biggest beneficiaries are politicians pretending to understand what it’s like to be a worker in a cost-of-living crisis.

    Rod Campbell is the Research Director at The Australia Institute, an independent research organisation based in Canberra. See www.australiainstitute.org.au

    – ref. Politics and property – how our leaders are among the privileged using legal loopholes to build their wealth – https://theconversation.com/politics-and-property-how-our-leaders-are-among-the-privileged-using-legal-loopholes-to-build-their-wealth-250929

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Bigbank AS Results for January 2025

    Source: GlobeNewswire (MIL-OSI)

    Bigbank started 2025 with continued growth and strong profitability.

    The loan portfolio growth was driven by focus products: the home loan portfolio increased by 18 million euros and the business loan portfolio by 11 million euros in a month. The consumer loan portfolio remained close to the level at the end of 2024, growing by 1 million euros over the month. In total, the loan portfolio grew by nearly 30 million euros in the first month of the year.

    The deposit portfolio grew even more in January. In a declining interest rate environment, Bigbank offered attractive deposit rates on both term and savings deposits across all its home markets. As a result, the portfolios of both deposit products increased by more than 75 million euros, bringing the bank’s total deposit portfolio growth to 151 million euros. This is a strong result that confirms Bigbank’s ability to significantly expand its depositor customer base and grow its deposit portfolio even in a short period.

    Interest income increased compared to January of the previous year – the positive impact of the larger loan portfolio outweighed the negative impact of the declining interest rate environment on interest income. At the same time, interest expenses also increased significantly due to the growth of the deposit portfolio. As a combined effect of these factors, net interest income in January amounted to 8.5 million euros, which was 0.6 million euros lower than in January of the previous year.

    A positive development was that, despite the significantly increased loan portfolio, the net cost of expected credit losses and provisions decreased by 0.4 million euros compared to January of the previous year, totaling 1.8 million euros. The credit quality of the loan portfolio remained at a similar level to the end of 2024.

    Net profit for January was 3.0 million euros – considering the continuing decline in the interest rate environment and the resulting pressure on net interest income, this is a solid result. Several positive developments stood out: compared to January 2024, operating expenses remained at the same level, and net fee and commission income increased by 0.1 million euros. A negative development was the increase in income tax expenses by 0.3 million euros, primarily due to the higher income tax rates that came into effect in Estonia and Lithuania at the beginning of 2025.

    Bigbank’s financial results for January 2025:

    • Deposits from customers and loans received increased by 550 million euros year-on-year, reaching 2.55 billion euros (+27%).
    • Loans to customers grew by 535 million euros year-on-year, reaching 2.22 billion euros (+32%).
    • Net interest income in January was 8.5 million euros, decreasing by 0.6 million euros compared to January of the previous year (-7%).
    • Net allowance for expected credit losses and provision expenses amounted to 1.8 million euros in January, which is 0.4 million euros less than a year ago (-18%).
    • Net profit for January was 3.0 million euros, decreasing by 0.2 million euros compared to the same period in 2024 (-7%).
    • Return on equity in January was 13.4%.
    Income statement, in thousands of euros Jan 2025 YTD25 YTD24 Difference YoY
    Total net operating income, incl. 9,334 9,334 9,675 -341 -4%
    Net interest income 8,479 8,479 9,087 -608 -7%
    Net fee and commission income 833 833 722 112 +15%
    Total expenses, incl. -3,924 -3,924 -3,918 -7 +0%
    Salaries and associated charges -2,406 -2,406 -2,214 -191 +9%
    Administrative expenses -826 -826 -1,025 199 -19%
    Profit before loss allowances 5,409 5,409 5,757 -348 -6%
    Net allowance for expected credit losses and provision expenses -1,773 -1,773 -2,150 378 -18%
    Income tax expense -615 -615 -358 -257 +72%
    Profit for the period from continuing operations 3,022 3,022 3,248 -226 -7%
    Profit or loss before tax from discounted operations 0 0 0 0  
    Profit for the period 3,022 3,022 3,248 -226 -7%
               
               
    Business volumes, in thousands of euros Jan 2025 YTD25 YTD24 Difference YoY
    Customer deposits and loans received 2,552,433 2,552,433 2,002,513 549,920 +27%
    Loans to customers 2,222,375 2,222,375 1,687,528 534,847 +32%
               
    Key figures Jan 2025 YTD25 YTD24 Difference YoY
    ROE 13.4% 13.4% 15.5% -2.1pp  
    Cost / income ratio (C/I) 42.0% 42.0% 40.5% +1.6pp  
    Net promoter score (NPS) 58 58 57 +1  

    Compared to the financial results published for January 2024, the net interest income and the net allowance for expected credit losses for the prior period have been adjusted, both reduced by 0.3 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been accrued on the gross exposure of the financial assets, rather than on net basis. This correction does not impact the net profit for January 2024.

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 January 2025, the bank’s total assets amounted to 2.9 billion euros, with equity of 273 million euros. Operating in nine countries, the bank serves more than 168,000 active customers and employs over 500 people. The credit rating agency Moody’s has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Tel: +372 53 930 833
    Email: Argo.Kiltsmann@bigbank.ee 
    www.bigbank.ee

    The MIL Network –

  • MIL-OSI Australia: Local outbreak of measles in Victoria

    Source: Government of Victoria 3

    Key messages

    • An outbreak of measles has been identified in Victoria, after two new cases were reported who likely acquired their infection in metropolitan Melbourne. These cases have had no history of overseas travel or known contact with other cases of measles.
    • These cases were infectious at multiple locations around Melbourne and Greater Bendigo. People who have attended a listed exposure site during the specified dates and times should monitor for symptoms of measles and follow the instructions below.
    • Measles is a highly infectious viral illness that can spread from person-to-person and potentially lead to serious health complications including pneumonia and brain inflammation (encephalitis).
    • Anyone who develops symptoms of measles should seek medical care and testing for measles. Wear a face mask and call ahead to make sure you can be isolated from others.
    • Healthcare professionals should be alert for measles in patients with fever and rash, particularly those who have recently returned from overseas or attended a listed exposure site during the specified period.
    • Clinicians should also consider measles in people with compatible symptoms who have spent time in metropolitan Melbourne in the prior 7 to 18 days.
    • Suspected cases should be tested, advised to isolate, and notified to the Department of Health immediately by calling 1300 651 160.
    • All Victorians are eligible to receive the free measles-mumps-rubella (MMR) vaccine if born during or after 1966. Two doses are required for immunity.
    • Victorians born between 1966 and 1992 may not have received two doses of vaccine. If you are unsure, see an immunisation provider now to ask for an MMR vaccine.
    • Anyone planning overseas travel should make sure they have received appropriate travel vaccinations, including the MMR vaccine. This is especially important for anyone planning on travelling to South and South-East Asia, including Vietnam.

    What is the issue?

    Two new cases of measles have been reported in Victoria that have not travelled overseas, and have no known links to recent cases of measles. These cases were infectious at multiple locations in Greater Bendigo and metropolitan Melbourne. This means there is now local transmission of measles in the community.

    Measles is a highly infectious viral illness that can lead to uncommon but serious complications, such as pneumonia and brain inflammation (encephalitis). There have been 8 cases of measles identified in Victoria in 2025.

    A number of populations in Victoria are susceptible to measles, including anyone who is unvaccinated, infants under 12 months of age, immunocompromised people and adults who were born between 1966 and 1992 who may not have received two MMR vaccines in childhood.

    Any overseas travel could also lead to exposure to measles, with outbreaks reported in multiple countries and regions, including Vietnam, Thailand, India, Africa, Europe and the UK, the Middle East, and the USA.

    Active public exposures sites in Victoria for recent cases are listed in the table below.

    Date Time Location Monitor for onset of symptoms up to
    Wednesday 26 February 2025 12:01am to 12:25am

    The Royal Melbourne Hospital Emergency Department

    300 Grattan St, Parkville VIC 3050

    		 Sunday 16 March 2025
    Tuesday 25 February 2025 5:20pm to 12:00am (midnight)

    The Royal Melbourne Hospital-Emergency Department

    300 Grattan St, Parkville VIC 3050

    		 Saturday 15 March 2025
    Tuesday 25 February 2025 11:00am to 12:00pm (mid-day)

    DiagnostiCare Specialist Radiology Clinic

    Unit 46/235 Milleara Rd, Keilor East VIC 3033

    		 Saturday 15 March 2025
    Tuesday 25 February 2025 10:00am to 11:00am

    Australian Clinical Labs

    Eastbrooke Family Clinic Lincolnville, 493-495 Keilor Road, Niddrie VIC 3042

    		 Saturday 15 March 2025
    Tuesday 25 February 2025 9:00am to 11:00am

    Eastbrooke Family Clinic Lincolnville

    493-495 Keilor Road, Niddrie VIC 3042

    		 Saturday 15 March 2025
    Monday 24 February 2025 5:50am to 9:00am

    Bendigo Hospital – Emergency Department

    Bendigo Health, Drought St & Arnold Street, North Bendigo VIC 3550

    		 Thursday 14 March 2025
    Saturday 22 February 2025 4:30pm to 5:05pm

    Chemist Warehouse Airport West

    Westfield Airport West

    40/29-35 Louis St, Airport West VIC 3042

    		 Tuesday 12 March 2025
    Saturday 22 February 2025 11:30am to 4:30pm

    Keilor East Leisure Centre Swimming Pool

    84 Quinn Grove, Keilor East VIC 3033

    		 Tuesday 12 March 2025
    Thursday 20 February 2025 4:30pm to 6:30pm

    Epsom Village

    16-20 Howard St, Epsom VIC 3551

    		 Monday 10 March 2025
    Thursday 20 February 2025 5:50pm to 6:30pm

    Epsom Village Pizza

    Shop 8/16-20 Howard St, Epsom VIC 3551

    		 Monday 10 March 2025
    Thursday 20 February 2025 5:20pm to 6:15pm

    Chemist Warehouse Epsom

    S/C 16 to Shops 1 to 3/40 Howard St, Epsom VIC 3551

    		 Monday 10 March 2025
    Thursday 20 February 2025 5:10pm to 5:45 pm

    Woolworths Epsom

    16/40 Howard St, Bendigo VIC 3550

    		 Monday 10 March 2025
    Thursday 20 February 2025 4:30pm to 5:45pm

    Aldi Epsom

    182/192 Midland Hwy, Epsom VIC 3551

    		 Monday 10 March 2025
    Thursday 20 February 2025 12:30pm to 01:05pm

    Coles Bendigo

    Williamson St & Myers St, Bendigo VIC 3550

    		 Monday 10 March 2025
    Wednesday 19 February 2025 4:00pm to 5:30pm

    Oscar Nails and Beauty

    305a Buckley St, Aberfeldie VIC, 3040

    		 Sunday 9 March 2025
    Wednesday 19 February 2025 8:30pm to 9:05pm

    Lansell Square

    267 High St, Kangaroo Flat VIC 3555

    		 Sunday 9 March 2025
    Wednesday 19 February 2025 8:30 pm to 9:05pm

    Coles Lansell Square

    267 – 283 High St, Kangaroo Flat VIC 3555

    		 Sunday 9 March 2025
    Wednesday 19 February 2025: 4:00pm to 5:00pm

    Highpoint Shopping Center

    120-200 Rosamond Rd, Maribyrnong VIC 3032

    		 Sunday 9 March 2025
    Wednesday 19 February 2025 4:00pm to 5:00pm

    Timezone Highpoint

    Level 1 Highpoint Shopping Centre 120-200 Rosamund Rd, Maribyrnong VIC 3032

    		 Sunday 9 March 2025

    Anyone who has attended a listed exposure site during the specified times above should monitor for symptoms and seek medical care if symptoms develop for up to 18 days after the exposure and follow the recommendations below.

    In addition, anyone who presents with signs and symptoms compatible with measles should be tested and notified to the Department of Health immediately. There should be an especially high level of suspicion if they have travelled overseas or visited any of the sites listed above and are unvaccinated or partially vaccinated for measles.

    Who is at risk?

    Anyone born during or since 1966 who does not have documented evidence of having received two doses of a measles-containing vaccine, or does not have documented evidence of immunity, is at risk of measles. This is also known as being susceptible to measles.

    Unvaccinated infants are at particularly high risk of contracting measles. Victorians born between 1966 and 1992 may not have received two doses of vaccine, which are required to provide immunity.

    Young infants, pregnant women and people with a weakened immune system are at increased risk of serious complications from measles.

    Symptoms and transmission

    Symptoms of measles include fever, cough, sore or red eyes (conjunctivitis), runny nose, and feeling generally unwell, followed by a red maculopapular rash. The rash usually starts on the face before spreading down the body. Symptoms can develop between 7 to 18 days after exposure.

    Initial symptoms of measles may be similar to those of COVID-19 and influenza. If a symptomatic person tests negative for COVID-19 and/or influenza but develops a rash, they should be advised to continue isolating and be tested for measles.

    People with measles are considered infectious from 24 hours prior to the onset of initial symptoms until 4 days after the rash appears. Measles is highly infectious and can spread through airborne droplets or contact with nose or throat secretions, as well as contaminated surfaces and objects. The measles virus can stay in the environment for up to 2 hours.

    Figures: Example of a typical measles rash

    Recommendations

    For the general public

    • Anyone who has attended a listed exposure site during the specified date and time should monitor for symptoms and seek medical care if symptoms develop for up to 18 days after the exposure.
    • Anyone who attended a listed exposure site and is not fully vaccinated for measles may be eligible to receive the MMR vaccine if they present within 72 hours (3 days) of exposure. Anyone who is immunocompromised or pregnant and not fully vaccinated for measles should seek medical review if within 6 days of exposure to a measles case.
    • Anyone who develops symptoms of measles should seek medical care and testing for measles. Call the health service beforehand to advise that you may have been exposed to measles and wear a face mask.
    • The measles-mumps-rubella (MMR) vaccine provides safe and effective protection against measles. The MMR vaccine is available for free:
      • on the National Immunisation Program, routinely given at 12 months and 18 months of age.
      • for anyone born during or after 1966 who have not already received two doses of measles-containing vaccine, are unsure of their vaccination status, or do not have evidence of immunity to measles.
      • for young infants aged 6 to 12 months prior to overseas travel to countries where measles is endemic or where outbreaks of measles are occurring. If an infant receives an early dose of MMR vaccine prior to travel, they should still receive routine doses at 12 months and 18 months of age as per the National Immunisation Program schedule.
    • Victorians born between 1966 and 1992 may not have received two doses of vaccine. If you are unsure, see an immunisation provider now to ask for an MMR vaccine. Two doses are required for immunity.
    • Anyone planning overseas travel should make sure they have received appropriate travel vaccinations, including MMR vaccination.

    For health professionals

    • For persons who have attended an exposure site, anyone who is not fully vaccinated for measles may be eligible to receive the MMR vaccine if they present within 72 hours (3 days) of exposure. Anyone who is immunocompromised or pregnant and not fully vaccinated for measles may be eligible to receive normal human immunoglobulin (NHIG) if they present up to 144 hours (6 days) after close exposure to a measles case.
    • Clinicians should be alert for measles in patients presenting with compatible illness if they have travelled overseas or attended a listed exposure site during the specified dates and times and are not fully vaccinated against measles.
    • These new cases now indicate local transmission of measles within Victoria. Clinicians should also consider measles in people with compatible symptoms who have spent time in metropolitan Melbourne in the prior 7 to 18 days.
    • Anyone who presents with signs and symptoms compatible with measles should be tested, isolated and notified to the Department of Health immediately, by calling 1300 651 160 and connecting to the relevant Local Public Health Unit.
    • Discuss the need for polymerase chain reaction (PCR) testing using nose and throat swabs with the Local Public Health Unit (PCR testing for measles does not attract a Medicare rebate).
    • Take blood samples for measles serology in all suspected cases.
    • Minimise the risk of measles transmission within your practice/department/community:
      • avoid keeping patients with fever and rash in shared waiting areas (send to a separate room).
      • if measles is suspected, give the patient a single use, fitted face mask and isolate under airborne precautions until a measles diagnosis can be excluded.
      • leave all rooms that were used to assess the suspected case vacant for at least 30 minutes after the consultation.
      • if returning home, patients should isolate at home until test results are available.
    • Offer MMR vaccine to people born during or after 1966 who do not have documented evidence of receiving two doses of a measles-containing vaccine or documented evidence of immunity.
    • Serology is not required before vaccinating.
    • People who are not Medicare eligible can also receive the free MMR vaccine. Refer to the Australian Immunisation Handbook – MeaslesExternal Linkfor further guidance on immunisation.

    MIL OSI News –

  • MIL-Evening Report: New report slaps an official price tag on Australia’s precious natural assets

    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

    Roadwarrior Photography/Shutterstock

    Climate regulation through carbon storage was worth A$43.2 billion to Australia in 2020-21, according to a report released today which seeks to put a monetary value on the benefits flowing from our natural assets.

    Australia’s first national ecosystem accounts were released by the Australian Bureau of Statistics today. Together, they reveal the key ways our environment contributes to Australia’s economic and social wellbeing in dollar terms.

    Ecosystems covered by the accounts include desert, grasslands, native forests, rivers, streams, coastal areas and oceans.

    The accounts provide a holistic view of Australia’s land, freshwater and marine environments. They intend to help policymakers look beyond GDP to a broader measurement of how ecosystems contribute to society and the economy.

    Valuing our ecosystems

    The accounts cover services provided by Australia’s ecosystems in 2020–21.

    Australian ecosystems stored more than 34.5 billion tonnes of carbon – the most valuable service by ecosystems examined in the accounts, according to the ABS.

    It brought a $43.2 billion benefit to Australia in the form of climate regulation. Plants and other organisms reduce greenhouse gases in the atmosphere by removing and storing them. This helps stabilise the climate, avoiding damage caused by climate change.

    Grasslands made the biggest contribution to carbon storage, followed by native forests and savannas.

    The accounts show grazed biomass, or grasslands, provide $40.4 billion in benefits, through the forage provided to cattle and sheep. The dollar figure represents what farmers would otherwise have spent on feeding their livestock.

    The accounts also examined the provision of surface water taken from ecosystems, and used for drinking, energy production, cooling, irrigation and manufacturing. This was valued at $1.4 billion.

    The provision of wild fish, sold to consumers to eat, was put at $39.2 million.

    The accounts also reveal how coral reefs, sandbanks, dunes and mangroves protect our coastlines against tides and storm surges.

    The ABS estimates mangroves protected 4,006 dwellings around Australian coastlines. This prevented more than $57 million worth of building damage.

    The accounts also track changes in Australia’s ecosystems.

    Some 281,000 hectares of mostly farmland were converted to urban and industrial uses between 2015–16 and 2020–21. And 169,000 hectares of “steppe” land – flat, unforested grassland – was converted to sown pastures and fields.

    Feral animal and weed species continue to spread. Meanwhile, the number of threatened native species is increasing.

    Why do we need ecosystem accounting?

    Think of a logged forest. The value of the timber produced counts towards Australia’s gross domestic product. But cutting trees down also produces a loss. For example, the forest is no longer there for the community to enjoy. And it no longer provides “services” such as filtering water and preventing soil erosion.

    There are many reasons to measure the value of those services. For example, governments might then be able to charge a logging company a licence fee which reflects the community value of the forest. A government may decide the forest is too valuable to allow logging at all, or the fee may just be set too high for any company to find it profitable to log it.

    To date, the value lost when trees are cut down, or other ecosystems are damaged, has not been included in the national accounts. The new environmental accounts seek to change this.

    Obviously, ecosystems are complex and difficult to measure. The ABS has been guided by an international framework developed by the United Nations.

    The ecosystem accounts are a collaboration between several federal agencies: the ABS, the Department of Climate Change, Energy, the Environment and Water, and the CSIRO.

    Boundless plains and golden soil, girt by sea

    The accounts distinguish between environmental “realms”.

    About half of Australia’s terrestrial (dry land) realm is desert. About a quarter is savanna and grassland. Intensively used land, such as pastures, is a smaller proportion.

    There are contrasts between the states. Western Australia has 158 million hectares of desert while Victoria, Tasmania and the Australian Capital Territory have none. Queensland, Western Australia and the Northern Territory host 97% of Australia’s mangroves.

    About half of Australia is the marine realm, covering 681 million hectares. Some 30% of this is the marine shelf and 70% deep sea. About 14 million hectares comprise coral reefs. The darker areas in the map below show where most fish are caught.

    The coastal realm comprises mangroves and saltmarsh. In 2021, mangroves covered an estimated 1.1 million hectares of Australia’s coastal areas.

    A small but important proportion of Australia is our freshwater realm, comprising rivers and streams. The accounts show between 2015–16 and 2020–21, 4% of natural environments along perennial rivers were converted to higher intensity land uses.

    Where to now?

    These accounts are just the first step in estimating the value of Australia’s natural assets.

    The ABS will update Australia’s ecosystem accounts annually. It describes the inaugural accounts as “experimental” and says the government agencies involved will run a consultation process to improve them.

    We can expect the accounts to become more useful over time as data accrues and trends can be identified.

    According to the ABS, policy uses for the accounts include managing healthy and resilient ecosystems, and integrating biodiversity into planning.

    Poet and playwright Oscar Wilde defined a cynic as someone who “knows the price of everything but the value of nothing”. In today’s society we often underrate things that do not have a dollar value attached.

    So this compilation of Australia’s ecosystems, and their value to us, is a welcome development. It should lead to more informed, holistic decisions about whether natural assets should be protected, or damaged for economic benefit.

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

    – ref. New report slaps an official price tag on Australia’s precious natural assets – https://theconversation.com/new-report-slaps-an-official-price-tag-on-australias-precious-natural-assets-250623

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Murkowski: In Alaska, We Do Have an Energy Emergency

    US Senate News:

    Source: United States Senator for Alaska Lisa Murkowski

    02.26.25

    Washington, DC – U.S. Senator Lisa Murkowski (R-Alaska) today voted against S.J.Res.10, a resolution to terminate the national energy emergency declared by President Trump on January 20, 2025. Murkowski spoke on the Senate floor in advance of the chamber’s vote to defeat the resolution, detailing the energy emergency in Alaska—which includes supply in Southcentral, affordability in rural and remote communities, and low throughput in the Trans-Alaska Pipeline System—while also pointing out the United States’ deep, self-inflicted vulnerabilities on mineral security.

    View Senator Murkowski’s remarks here

    A transcript of Murkowski’s floor statement is below.

    TRANSCRIPT

    Murkowski: Mr. President, I join my colleague from Utah, the Chairman of the Energy Committee, in speaking today in clear opposition to Senate Joint Resolution 10, which would terminate the energy emergency that has been declared by President Trump.

    I think my colleagues here on both sides of the aisle know that I’m not afraid to suggest when I think that the President may be heading in the wrong direction, but folks, on this one, he has absolutely, positively, clearly hit the mark. And I think that the Chairman of the Energy Committee has outlined in pretty good detail how that has come about.

    We know that our country is blessed with extraordinary, extraordinary assets. We have the potential to become the world’s leading resource superpower. But in order to do that, we have to be able to produce more energy domestically, and we have to be able to extract more minerals. We have to be able to build more transmission lines. We need to be able to overhaul what is clearly a broken federal permitting process. And we can do this.

    We can do this in a way that is cheaper, that is more reliable, more clean, than any other nation in the world. But wewe’ve got to kind of dig out now from where we have been over these past four years, where we saw setback after setback for resource producing states like mine, the state of Alaska.

    Let me give you a little detail in terms of what we’re facing in the state of Alaska, a state that, again, is known for its resource wealth.

    Right now, in the southcentral part of the state, we’re on the verge of importing LNG to meet the needs of some 75% of our population during the colder winter months. I’ll just repeat that: Alaska, the place where everybody knows we’ve got extraordinary oil resources, we have extraordinary natural gas potential, not only on the North Slope, but down in Cook Inlet. Well, Cook Inlet reserves are on the decline, and we are actually talking about importing LNG from Canada. That ought to just be considered a non-starter for anyone who knows and understands the extraordinary potential for resource development that we have in our state, with the wealth that we have.

    Right now, in some of our remote communities across the state, residents are truly in what I would describe as an energy emergency. They might not use that term anymore, because they’ve just gotten so used to the fact that they’re paying so much to keep their lights on and to keep warm. We have residents in many communities that are spending up to one half of their incomes on energy just to, again, to keep the lights on and to keep warm.

    Think about what that means when you’re spending half of what you what you make for just the basic necessities. It means that you have less to feed your family, to educate your kids. We’ve got communities where power costs 10 times the national average, where gasoline can easily exceed $10 a gallon, and that includes diesel as well. And those costs, of course, impact everything, everything – because you’ve got to move your food, your goods, usually by airplane, sometimes over the water, sometimes you’re able to drive it, but when you’re paying this much for diesel, gasoline, for avgas, it impacts everything.

    So, it’s not unusual to go into a village store and, if you can actually find a gallon of milk, see that it costs $18 a gallon. I do my comparison shopping by checking the prices of a box of Tide. People need to be able to wash their clothing for sanitary purposes. In almost every village that I’m going to, you’re looking at prices over $50 a box. $50 for a box of Tide laundry detergent. And it’s not because Tide is any more expensive than anything else, it’s just the reality of what we’re paying there. So, I think we’ve got an energy emergency when it comes to affordability.

    Right now, in our state, we also have an oil pipeline that is just one-quarter filled. We’ve had this pipeline pumping oil safely from the North Slope to delivery down in Valdez, going to other parts of the country for refining. That oil pipeline was completed in 1977 and has been producing for America ever since. But right now, it’s about one-quarter full. What’s happening is you have the federal government controlling most surrounding lands, and that has led to decreased opportunities to expand production up there, and a pipeline that again is about one-quarter full.

    I mentioned the benefits of oil here. I talked about natural gas, but we also have known deposits of about 50 critical minerals, the building blocks of our modern society and our national security. We have just about everything that our nation needs to break its deep dependence on China, to be able to rebuild our supply chains. But if you can’t access it, you can’t produce it, we can’t benefit from it.

    We tried to build a road from the Dalton Highway to the Ambler mining district that is explicitly provided by a 1980 federal law. We authorized this as part of a grand compromise. The road corridor was in exchange for creation of a massive National Park and Preserve. But we can get the Ambler project approved in one administration, only to have the next one come in, reopen it, ignore the law, and then make a political decision to reject it. And then here in Congress, we run into a partisan wall with some less interested in the rule of law than the whims of the very same environmental groups that pushed this resolution. And then meanwhile, what’s happening when we’re not able to produce in our own home states? China is cutting us off from its mineral exports, including the gallium and the germanium that we could produce from the Ambler district, if only the federal government would uphold its promise to allow Alaskans to responsibly access it.

    So, yeah, when I when I look at my home state, when I look at Alaska, I do see an energy emergency. I see several actually. And I see even more reasons to be concerned nationally. As the Chairman of the Energy Committee just noted, electricity demand is growing, and yet we can’t permit new power plants or build transmission lines. We can’t build pipelines in the Northeast or almost anything, particularly mines, on federal lands in the West. And you know, I’m listening to some of the arguments that are there being presented here, and maybe I’d feel differently if my home state was producing more than two million barrels of oil per day, as some are. But we’re not, and it’s not because we can’t, it’s because we’ve been denied the opportunity to do so. And that’s why I’m very thankful for President Trump and the administration for the focus that they have given to the state of Alaska with a specific executive order to allow us to unleash Alaska’s energy and resource potential.

    I have shared with the Secretary of the Interior, as well as the Secretary of Energy, that we need to stop treating energy like it’s some kind of an evil or a bad thing. We need to recognize that it is good. When I was chairman of the Energy Committee, we had a little bumper sticker, and I summed up my whole policy with: energy is good. I haven’t deviated from that policy. Energy makes us stronger, makes us less vulnerable, and it is an asset, not a liability, and we need to treat it as such.

    We need to be unleashing our resources, including all of our renewables, because that’s all part of the energy basket as well. So, it’s not an either-or, in my view, it’s all of the above. And that’s good for our economy. It’s good for our security, it’s good for our geopolitical power. America’s resource production is good for the global environment, because when we’re producing our resources, we stop paying countries that have little to no environmental standards, no interest in reducing their emissions, who often rely on child slave labor, and who frankly don’t even like us. So why not seize the opportunities we have here?

    Why not seize the opportunities that we have here, benefit our own people, our own economies, and again, benefit the global environment as well? If an energy emergency helps us figure this all out, then I’m good with that. And if it helps us remove the federal sanctions that we have seen on Alaska and returns my state to the heart of our national strategy for resource production, then that is also good. I think we’ll all be better off.

    MIL OSI USA News –

  • MIL-OSI: LZ Technology Holdings Limited Announces Pricing of Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    HUZHOU, China, Feb. 26, 2025 (GLOBE NEWSWIRE) — LZ Technology Holdings Limited (“LZ Technology” or the “Company”), an information technology and advertising company, today announced the pricing of its initial public offering of 1,800,000 Class B ordinary shares, par value $0.000025 per share (the “Class B Ordinary Shares”), at a public offering price of $4.00 per share. The Company’s Class B Ordinary Shares are expected to begin trading on the Nasdaq Capital Market on February 27, 2025 under the ticker symbol “LZMH.”

    The Company expects to receive aggregate gross proceeds of US$7.2 million from this offering, before deducting underwriting discounts and offering expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 270,000 Class B Ordinary Shares at the public offering price, less underwriting discounts.

    LZ Technology intends to use the net proceeds from this offering for research and development, international expansions, strategic acquisitions, marketing efforts and working capital.

    The offering is expected to close on February 28, 2025, subject to the satisfaction of customary closing conditions.

    The offering is being conducted on a firm commitment basis. Benjamin Securities, Inc. and D. Boral Capital LLC are acting as underwriters for the Offering (the “Underwriters”). Bevilacqua PLLC is acting as U.S. securities counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to the Underwriters in connection with the offering.

    A registration statement on Form F-1 (File No. 333-276234) relating to the offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on February 26, 2025. The offering is being made only by means of a prospectus, forming part of the registration statement. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, copies of the prospectus relating to the Offering may be obtained, when available, from Benjamin Securities, Inc. by email at info@benjaminsecurities.com, by standard mail to 3 West Garden Street, Suite 407, Pensacola, FL 32502, or by telephone at +1 (516) 931-1090; or from D. Boral Capital LLC by standard mail to D. Boral Capital LLC, 590 Madison Ave 39th Floor, New York, NY 10022, or by email at info@dboralcapital.com, or by telephone at +1 (212)-970-5150.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

    About LZ Technology Holdings Limited

    LZ Technology Holdings Limited is an information technology and advertising company operating through its subsidiaries in China. The Company’s business spans three key verticals: Smart Community, Out-of-Home Advertising, and Local Life. Its Smart Community services provide intelligent access control and safety management systems, installed in thousands of residential communities in China. Its Out-of-Home Advertising division offers multi-channel advertising solutions through a vast network of monitors across approximately 120 cities in China, with ad placements on access control screens, SaaS platforms, and third-party advertising spaces. The Company’s Local Life vertical connects businesses with consumers through online promotions, social media marketing, and retail sales of various products and services. LZ Technology is committed to providing high-quality services to communities and businesses.

    Forward-Looking Statements

    Certain statements in this press release are “forward-looking statements” as defined under the federal securities laws, including, but not limited to, the Company’s statements regarding the success of the offering or the use of proceeds from the sale of the Company’s shares in the offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    For further information, please contact:

    Michael Wu
    Investor Relations
    LZ Technology Holdings Limited
    michael@lzmh.co

    The MIL Network –

  • MIL-Evening Report: What’s the difference between burnout and depression?

    Source: The Conversation (Au and NZ) – By Gordon Parker, Scientia Professor of Psychiatry, UNSW Sydney

    Yuri A/Shutterstock

    If your summer holiday already feels like a distant memory, you’re not alone. Burnout – a state of emotional, physical and mental exhaustion following prolonged stress – has been described in workplaces since a 5th century monastery in Egypt.

    Burnout and depression can look similar and are relatively common conditions. It’s estimated that 30% of the Australian workforce is feeling some level of burnout, while almost 20% of Australians are diagnosed with depression at some point in their lives.

    So what’s the difference between burnout and depression?

    Depression is marked by helplessness and burnout by hopelessness. They can have different causes and should also be managed differently.

    What is burnout?

    The World Health Organization defines burnout as an “occupational phenomenon” resulting from excessively demanding workload pressures. While it is typically associated with the workplace, carers of children or elderly parents with demanding needs are also at risk.

    Our research created a set of burnout symptoms we captured in the Sydney Burnout Measure to assist self-diagnosis and clinicians undertaking assessments. They include:

    • exhaustion as the primary symptom

    • brain fog (poor concentration and memory)

    • difficulty finding pleasure in anything

    • social withdrawal

    • an unsettled mood (feeling anxious and irritable)

    • impaired work performance (this may be result of other symptoms such as fatigue).

    People can develop a “burning out” phase after intense work demands over only a week or two. A “burnout” stage usually follows years of unrelenting work pressure.

    What is depression?

    A depressive episode involves a drop in self-worth, increase in self-criticism and feelings of wanting to give up. Not everyone with these symptoms will have clinical depression, which requires a diagnosis and has an additional set of symptoms.

    Clinically diagnosed depression can vary by mood, how long it lasts and whether it comes back. There are two types of clinical depression:

    1. melancholic depression has genetic causes, with episodes largely coming “out of the blue”

    2. non-melancholic depression is caused by environmental factors, often triggered by significant life events which cause a drop in self-worth.

    When we created our burnout measure, we compared burnout symptoms with these two types of depression.

    Burnout shares some features with melancholic depression, but they tend to be general symptoms, such as feeling a loss of pleasure, energy and concentration skills.

    We found there were more similarities between burnout and non-melancholic (environmental) depression. This included a lack of motivation and difficulties sleeping or being cheered up, perhaps reflecting the fact both have environmental causes.

    Looking for the root cause

    The differences between burnout and depression become clearer when we look at why they happen.

    Personality comes into play. Our work suggests a trait like perfectionism puts people at a much higher risk of burnout. But they may be less likely to become depressed as they tend to avoid stressful events and keep things under control.

    Excessive workloads can contribute to burnout.
    tartanparty/Shutterstock

    Those with burnout generally feel overwhelmed by demands or deadlines they can’t meet, creating a sense of helplessness.

    On the other hand, those with depression report lowered self-esteem. So rather than helpless they feel that they and their future is hopeless.

    However it is not uncommon for someone to experience both burnout and depression at once. For example, a boss may place excessive work demands on an employee, putting them at risk of burnout. At the same time, the employer may also humiliate that employee and contribute to an episode of non-melancholic depression.

    What can you do?

    A principal strategy in managing burnout is identifying the contributing stressors. For many people, this is the workplace. Taking a break, even a short one, or scheduling some time off can help.

    Australians now have the right to disconnect, meaning they don’t have to answer work phone calls or emails after hours. Setting boundaries can help separate home and work life.



    Read more:
    Australians now have the right to disconnect – but how workplaces react will be crucial

    Burnout can be also be caused by compromised work roles, work insecurity or inequity. More broadly, a dictatorial organisational structure can make employees feel devalued. In the workplace, environmental factors, such as excessive noise, can be a contributor. Addressing these factors can help prevent burnout.

    As for managing symptoms, the monks had the right idea. Strenuous exercise, meditation and mindfulness are effective ways to deal with everyday stress.

    Regular exercise can help manage symptoms of burnout.
    alexei_tm/Shutterstock

    Deeper contributing factors, including traits such as perfectionism, should be managed by a skilled clinical psychologist.

    For melancholic depression, clinicians will often recommend antidepressant medication.

    For non-melancholic depression, clinicians will help address and manage triggers that are the root cause. Others will benefit from antidepressants or formal psychotherapy.

    While misdiagnosis between depression and burnout can occur, burnout can mimic other medical conditions such as anemia or hypothyroidism.

    For the right diagnosis, it’s best to speak to your doctor or clinician who should seek to obtain a sense of “the whole picture”. Only then, once a burnout diagnsois has been affirmed and other possible causes ruled out, should effective support strategies be put in place.

    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.

    Gordon Parker receives funding from the University of of NSW.

    – ref. What’s the difference between burnout and depression? – https://theconversation.com/whats-the-difference-between-burnout-and-depression-250043

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: Employment – Strike action begins tomorrow at Oranga Tamariki over insulting pay offer, unmanageable workloads – PSA

    Source: PSA

    Workers at Oranga Tamariki begin strike action tomorrow over an insulting pay offer and a refusal by the agency to address their concerns over unsafe and unmanageable workloads.
    “Workers are taking this action to send a very strong message to Oranga Tamariki that it needs to take their concerns seriously and make a fair offer,” said Fleur Fitzsimons, National Secretary for the Public Service Association for Te Pūkenga Here Tikanga Mahi.
    “Oranga Tamariki is effectively offering a real pay cut and failing to ensure workloads are safe and manageable. It’s unfair and incredibly damaging to the morale of workers carrying out such a vital role.”
    The strike covers around 2,800 workers including social workers, supervisors, kairaranga, youth workers, night workers, and support staff in care and protection and youth justice residences, family group conference coordinators, workplace administrators and national advisory and support staff.
    In bargaining for a new collective agreement Oranga Tamariki has offered small lump sum payments and no salary increases and provided no solutions to long standing and growing workload management issues. Member proposals to enhance obligations to Te Ao Māori remain unresolved.
    “Staff are burning out while the need to support tamariki, rangatahi, and whānau is not going away.
    [See attached stories from workers about the stress they are enduring]
    “Decades of reviews and inquiries have consistently identified high staff workloads as a barrier to Oranga Tamariki consistently delivering on its purpose. The Government’s reckless spending cuts have seen Oranga Tamariki lose over 400 workers, meaning those remaining must shoulder even higher workloads.
    “If the Government is serious about supporting whānau and protecting tamariki and rangatahi from neglect and abuse; they need to invest more in this key frontline agency and do more to retain such critical workers.”
    Details of strike action
    A variety of actions will be taken by PSA members. Some actions include members working in essential services; care and protection residences, youth justice residences, residential homes, and the national contact centre (their actions begin 7 March). There will be a total withdrawal of labour across the agency for two hours from 3pm Friday 7 March.
    The actions begin at 5pm on Friday 28 February and end on Friday 18 April. They include:
    – A ban on all work that is not paid work, including only working standard hours of work and taking all rest and meal breaks.
    – A ban on using all work-related systems and software outside of paid work, including online case recording systems.
    – A ban on working paid overtime; and a ban on working overtime for TOIL.
    – A ban on working double shifts.
    – A ban on being on-call and working call-back (after-hours duties).

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: First Responders – Waipoua River fire update #3

    Source: Fire and Emergency New Zealand

    The fire at Waipoua River is 50 percent contained and crews have made good progress today establishing containment lines.
    Following more accurate mapping, the fire size has been updated to 96 hectares with a 4.5-kilometre perimeter.
    Incident Controller Corey Matchitt says the ground crews have been working hard to get the fire contained.
    “It has been hard mahi for our teams on the ground, but they have worked well in conjunction with the five heavy machinery operators and eight helicopters in the air.
    “We continue to have structure protection in place and no structures have been lost to fire.”
    The residents of 20 homes remain evacuated and were updated at a community meeting this morning.
    The fire will be a long duration incident, but Corey Matchitt says the evacuees remain at the front of mind.
    “We can appreciate how stressful it can be to be out of your home when a fire is near, so we are doing our best to get them back home, but only when it is safe to do so.”
    There will be one more update tonight.

    MIL OSI New Zealand News –

  • MIL-OSI Global: What’s the difference between burnout and depression?

    Source: The Conversation – Global Perspectives – By Gordon Parker, Scientia Professor of Psychiatry, UNSW Sydney

    Yuri A/Shutterstock

    If your summer holiday already feels like a distant memory, you’re not alone. Burnout – a state of emotional, physical and mental exhaustion following prolonged stress – has been described in workplaces since a 5th century monastery in Egypt.

    Burnout and depression can look similar and are relatively common conditions. It’s estimated that 30% of the Australian workforce is feeling some level of burnout, while almost 20% of Australians are diagnosed with depression at some point in their lives.

    So what’s the difference between burnout and depression?

    Depression is marked by helplessness and burnout by hopelessness. They can have different causes and should also be managed differently.

    What is burnout?

    The World Health Organization defines burnout as an “occupational phenomenon” resulting from excessively demanding workload pressures. While it is typically associated with the workplace, carers of children or elderly parents with demanding needs are also at risk.

    Our research created a set of burnout symptoms we captured in the Sydney Burnout Measure to assist self-diagnosis and clinicians undertaking assessments. They include:

    • exhaustion as the primary symptom

    • brain fog (poor concentration and memory)

    • difficulty finding pleasure in anything

    • social withdrawal

    • an unsettled mood (feeling anxious and irritable)

    • impaired work performance (this may be result of other symptoms such as fatigue).

    People can develop a “burning out” phase after intense work demands over only a week or two. A “burnout” stage usually follows years of unrelenting work pressure.

    What is depression?

    A depressive episode involves a drop in self-worth, increase in self-criticism and feelings of wanting to give up. Not everyone with these symptoms will have clinical depression, which requires a diagnosis and has an additional set of symptoms.

    Clinically diagnosed depression can vary by mood, how long it lasts and whether it comes back. There are two types of clinical depression:

    1. melancholic depression has genetic causes, with episodes largely coming “out of the blue”

    2. non-melancholic depression is caused by environmental factors, often triggered by significant life events which cause a drop in self-worth.

    When we created our burnout measure, we compared burnout symptoms with these two types of depression.

    Burnout shares some features with melancholic depression, but they tend to be general symptoms, such as feeling a loss of pleasure, energy and concentration skills.

    We found there were more similarities between burnout and non-melancholic (environmental) depression. This included a lack of motivation and difficulties sleeping or being cheered up, perhaps reflecting the fact both have environmental causes.

    Looking for the root cause

    The differences between burnout and depression become clearer when we look at why they happen.

    Personality comes into play. Our work suggests a trait like perfectionism puts people at a much higher risk of burnout. But they may be less likely to become depressed as they tend to avoid stressful events and keep things under control.

    Excessive workloads can contribute to burnout.
    tartanparty/Shutterstock

    Those with burnout generally feel overwhelmed by demands or deadlines they can’t meet, creating a sense of helplessness.

    On the other hand, those with depression report lowered self-esteem. So rather than helpless they feel that they and their future is hopeless.

    However it is not uncommon for someone to experience both burnout and depression at once. For example, a boss may place excessive work demands on an employee, putting them at risk of burnout. At the same time, the employer may also humiliate that employee and contribute to an episode of non-melancholic depression.

    What can you do?

    A principal strategy in managing burnout is identifying the contributing stressors. For many people, this is the workplace. Taking a break, even a short one, or scheduling some time off can help.

    Australians now have the right to disconnect, meaning they don’t have to answer work phone calls or emails after hours. Setting boundaries can help separate home and work life.



    Read more:
    Australians now have the right to disconnect – but how workplaces react will be crucial

    Burnout can be also be caused by compromised work roles, work insecurity or inequity. More broadly, a dictatorial organisational structure can make employees feel devalued. In the workplace, environmental factors, such as excessive noise, can be a contributor. Addressing these factors can help prevent burnout.

    As for managing symptoms, the monks had the right idea. Strenuous exercise, meditation and mindfulness are effective ways to deal with everyday stress.

    Regular exercise can help manage symptoms of burnout.
    alexei_tm/Shutterstock

    Deeper contributing factors, including traits such as perfectionism, should be managed by a skilled clinical psychologist.

    For melancholic depression, clinicians will often recommend antidepressant medication.

    For non-melancholic depression, clinicians will help address and manage triggers that are the root cause. Others will benefit from antidepressants or formal psychotherapy.

    While misdiagnosis between depression and burnout can occur, burnout can mimic other medical conditions such as anemia or hypothyroidism.

    For the right diagnosis, it’s best to speak to your doctor or clinician who should seek to obtain a sense of “the whole picture”. Only then, once a burnout diagnsois has been affirmed and other possible causes ruled out, should effective support strategies be put in place.

    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.

    Gordon Parker receives funding from the University of of NSW.

    – ref. What’s the difference between burnout and depression? – https://theconversation.com/whats-the-difference-between-burnout-and-depression-250043

    MIL OSI – Global Reports –

  • MIL-OSI Submissions: Universities – Call for action in Vietnam to make low-emission food system reforms – Flinders

    Source: Flinders University

    While food systems account for up to 30% of total global greenhouse gas emissions, Vietnam is holding high-level talks aimed at creating more sustainable farming systems in the country’s ‘food bowl,’ the Mekong Delta region.

    However, public policy experts are asking whether an extended series of government and large organisations running high-level multistakeholder forums (MSFs) is the best approach – and with few signs of low-emission food production systems commencing since the forums started almost 30 years ago.

    Based on policy and literature reviews and interviews with 40 organisations in Vietnam, the Vietnamese researchers led by experts from Nong Lam University have joined Flinders University Professor in Public Policy Thuy Pham to highlight the need for policymakers and

    MSF organisers to learn and implement important ‘real-world’ changes to greenhouse gas emissions and equity in society.

    “Our investigations on the impact of 17 MSFs in Vietnam show they have shared some valuable knowledge but all this has generally made little contribution to outcomes on emissions, climate change mitigation and equity in communities,” says Professor Pham, from Flinders University’s College of Business, Government and Law.

    “Current MSFs operate at different scales – regional, national, provincial – targeting different stakeholder groups for different objectives and outcomes,” she says, of a new article published in the World Development Perspectives journal.

    “This means there is a lack of effective discussion across the groups, and not all stakeholders know about the forums, so limiting opportunities for collaboration, information sharing, networking and resource efficiency.”

    “Rather than running more MSFs, we recommend that the great ideas produced at these forums should be used by policymakers to make progress on emission targets in food production, and in turn on equity.”

    The researchers suggest that key policymakers should learn from and work with existing MSFs, rather than establish new ones and waste time.  

    They say reducing emissions and more sustainable food production requires holistic, cross-sectoral and multilevel solutions developed by multiple stakeholders. Technical solutions need to align with transformative governance and wide-ranging and inclusive stakeholder engagement with all players in food systems – while taking into account the interests and perspectives of these different stakeholders.

    Coauthor of the study Dr Tang Thi Kim Hong, from the Nong Lam University in Ho Chi Minh City, says Vietnam’s policies on emission reductions and food systems – such as its Nationally Determined Contribution, and Resolution 34 on national food security until 2030 – require the participation of all sectors, state and non-state stakeholders as well as local communities and ethnic minorities.

    “It is important, therefore, to analyse the degree to which a low-emission food system in the Mekong Delta is inclusive, and to assess whether all stakeholders or affected parties and their interests are represented in the decision-making process.”

    While MSFs are designed to be “bring together a range of stakeholders to participate in decision-making and/or implementation in order to address a land, climate or resource problem or to achieve a common goal,” too often they are led and controlled by ‘powerful’ stakeholders who have funds, access to knowledge and political networks. This leaves local communities, Indigenous people and women behind, researchers say.

    “We would suggest that key policymakers and funding agencies should learn from, and work with, existing MSFs to understand what works, what doesn’t, what works best and where, when and for whom, before establishing new ones,” adds Professor Pham, who is also affiliated with the Center for International Forestry Research in Indonesia (CIFOR).

    “These MSFs should also ensure and empower disadvantaged groups such as Indigenous people local communities, women and youth to take the ownership, leadership and have a voice in how these MSFs should be run and operated, and how they can meaningfully address the on-ground problems.”

    The article, ‘Multistakeholder forums in the Mekong Delta, Vietnam: Stakeholders’ perspectives regarding their outcomes and effectiveness for low-emission food systems’ (2025) by Thu Thuy Pham, Thi Kim Hong Tang, Vy Thao Ngo, Ngoc My Hoa Tran, Thi Thuy Anh Nguyen, Thi Van Anh Nguyen, Trung Son Nguyen and Dinh Yen Khue Nguyen has been published in World Development Perspectives DOI:10.1016/j.wdp.2025.100661.

    Professor Thuy Pham, based at the Flinders College of Business, Government and Law, also is affiliated with the Center for International Forestry Research (CIFOR) in Indonesia. Other corresponding authors from Vietnam’s Nong Lam University – Dr Kim Tang, from the Faculty of Forestry, and Dr Thao Ngo, from the Faculty of Environment and Natural Resources, contributed equally to the study.

    Food systems account for up to 30% of total global greenhouse gas emissions when accounting for all elements and stakeholders (environment, people, inputs, processing, infrastructure, institutions, etc), according to an FAO report. This includes activities related to the production, processing, distribution, preparation, use, and sale of food, and the outputs of these activities, including socio-economic and environment.

    MSFs aim to bring together multiple stakeholders, including farmers and community groups, to develop climate solutions and make meaningful, on-the-ground reforms to set up low-emission food systems and improve equity.

    MIL OSI – Submitted News –

  • MIL-OSI China: UK PM makes defense pledge before US trip

    Source: China State Council Information Office

    British Prime Minister Keir Starmer delivers a speech during 2024 Labour Party Conference in Liverpool, Britain, Sept. 24, 2024. [Photo/Xinhua]

    United Kingdom Prime Minister Keir Starmer was set to meet United States President Donald Trump in Washington on Thursday after having pledged to increase British defense spending in the face of what he called a “generational” security challenge.

    The decision to raise military expenditure to 2.5 percent of GDP by 2027, and 3 percent by 2033, was announced on Tuesday, with Starmer saying he had “hard choices” to make in ensuring that the “defense and security of the British people must always come first”.

    But his decision to partly fund it by a cut in overseas aid has been criticized by charities and some members of his own governing Labour Party.

    “Through those choices, as hard as they are, we must also seek unity — a whole society effort that will reach into the lives, the industries, and the homes of the British people,” Starmer explained.

    The timing of the announcement was notable, coming as it did just before his visit to the White House and at a time when security links between Europe and the U.S. are under great strain.

    U.S. Defense Secretary Pete Hegseth welcomed Starmer’s decision, calling it a “strong step from an enduring partner”.

    Trump has long been critical of European members of the NATO military alliance for not contributing enough to the communal defense budget. The current requirement, met by most members, is for 2 percent of GDP to be spent on defense, but Trump has said it should be as high as 5 percent, even though the U.S. itself is currently only the third-highest proportionally contributing member nation, with 3.37 percent of its GDP.

    According to data from the Organisation for Economic Cooperation and Development, in 2023 the UK was the world’s fifth-largest international aid donor.

    Writing in The Guardian newspaper, Foreign Minister David Lammy insisted the “most vital programs in the world’s worst conflict zones of Ukraine, Gaza, and Sudan” would not be affected, “but there can be no hiding from the fact that many programs doing vital work will have to be put on hold”.

    Former Labour Party foreign secretary David Miliband, who is now head of the International Rescue Committee charity, called the aid cut “a blow to Britain’s proud reputation as a global humanitarian and development leader”, while Nick Dearden, director of campaign group Global Justice Now, said it was “a day of shame for Britain” with the move being taken “to appease Trump”.

    The United Nations children’s agency UNICEF and the charity Oxfam were also heavily critical of the decision, while Labour Party member of parliament Sarah Champion, who is chair of the parliamentary International Development Select Committee, spoke out against her own party leader, saying: “Aid vs defense isn’t a realistic narrative for keeping the world safe.”

    MIL OSI China News –

  • MIL-OSI Economics: Samsung Receives 58 Accolades at iF Design Awards 2025

    Source: Samsung

    Samsung Electronics today announced that it received a total of 58 awards at the International Forum (iF) Design Awards 2025, a prestigious German international design competition. Included among the honors was a Gold Award for Samsung’s Ballie and advanced concept package design for small portable projectors, ‘BOJAGI’.
     
    Founded in 1953 as Die Gute Industrieform e.V., the iF Design Awards evaluates a comprehensive range of factors, including differentiation and impact, across a total of nine categories: Product Design, Packaging Design, Communication Design, Interior Architecture, Professional Concept, Service Design, Architecture, User Experience (UX) and User Interface (UI).
     
    “Innovation with AI can help resonate with our customers through the power of design” said TM Roh, President and Head of the Corporate Design Center at Samsung Electronics. “We will strive to provide designs that harmonize with consumers’ changing lifestyles and contribute to society and the lives of our consumers.”
     
     
    Two Gold Awards Recognize Designs That Offer Customized Experiences for Different Lifestyles

     
    Ballie,1 an AI companion robot for the home, acts as a personal assistant that can autonomously drive around the home to complete various tasks. By connecting to and managing home appliances, Ballie can provide a helping hand to users in many situations — continually learning from users’ patterns and habits to provide smarter, more personalized services.
     

     
    Advanced concept package design for small portable projectors — named as ‘Sustainable Design & Communication, BOJAGI’ — was inspired by a traditional Korean tool called bojagi. The design was implemented using scrap fabric, and was designed to be able to package and sustainably be reused regardless of its shape.
     
     
    58 Awards Ranging From TVs to Home Appliances to Smartphones
    Samsung Electronics’ 58 wins came across all design categories. In addition to the Gold Awards for the ‘Ballie’ and ‘BOJAGI’, Samsung received awards in the Product Design category for the Bespoke AI Laundry Combo , an all-in-one washer and dryer; Galaxy Ring, a wearable device packed with Samsung’s powerful sensor technology and Galaxy AI capabilities to help users keep track of their health by simply wearing it on their finger; and the Neo QLED 8K, a TV that provides an immersive experience with the infinity air design.
     
    Other products and services that were recognized for design excellence include Foldable Galaxy AI UX, Bespoke refrigerator UX and the Newfound Equilibrium exhibition at Milan Design Week 2024. Foldable Galaxy AI UX enables seamless communication anywhere, anytime with AI-based mobile features like Live Translate, which enables easy conversations with someone in another language. And thanks to the dual screen functionality of Galaxy Z series, you can switch your device into FlexMode so both parties can see the conversation translated in a more natural way. Bespoke refrigerator UX provides various experiences that simplify user’s lives, such as managing food lists and controlling connected devices. And the Newfound Equilibrium exhibition showcases Samsung’s user centered design philosophy with an aim to inspire vision for a better future that encompasses the balance between people and technology.
     
     
    1 Will be available in the first half of 2025 and availability may vary by region.

    MIL OSI Economics –

  • MIL-Evening Report: Head lice are getting harder to kill. Here’s how to break the nit cycle

    Source: The Conversation (Au and NZ) – By Cameron Webb, Clinical Associate Professor and Principal Hospital Scientist, University of Sydney

    DGLimages/Shutterstock

    Wrangling head lice, and the children they infest, must be up there with the most challenging duties a parent or carer has to face.

    And the job is getting harder. Commonly used chemical products aren’t working as well as they once did, meaning head lice are harder to kill.

    You can still rid your children of lice – but it’s likely to take some patience and persistence.

    Remind me, what are head lice? And nits?

    Head lice are tiny six-legged insects that are only found in the hair on a human’s head – most commonly in the hair of primary school-aged children.

    Head lice have been a constant companion for humans throughout their millions of years of evolution.

    Lice love living in our hair. But they scoot down to our scalp up to a half dozen times a day to drink our blood.

    Their claws are perfectly designed to scuttle up and down shafts of hair. But while they’re nimble on our hair, once they’re off, they don’t last long –they’re clumsy, uncoordinated and die quickly.

    The term “nits” actually describes the eggs of head lice. They’re often the first sign of an infestation. And with one louse laying more than 100 in their month-long lifespan, there can be a lot of them.

    Head lice live for around a month.
    logika600/Shutterstock

    Can they spread diseases?

    No. Head lice are annoying and their bites may cause skin reactions. But Australian health authorities don’t consider lice a health risk. There is no evidence that head lice can spread pathogens that cause disease.

    The stigma of head lice infestations can be greater than any direct health consequences for infested children.

    Why do my children always pick up lice?

    From child care through to primary school, it’s likely your child has had a head lice infestation at least once. One Australian study found the infestation rate in Australian classrooms ranged from no cases to 72% of children affected.

    Girls are more likely to be carry head lice than boys. Long hair means it’s easier for the head lice to hitch a ride.

    One study found that in some classrooms, almost three in four children had head lice.
    CDC/Unsplash

    Head lice don’t jump or fly, they move from head to head via direct contact.

    Head lice come home with your children because they spend time in close contact with other children, hugging, playing or crowding around books or screens. Any head-to-head contact is a pathway of infections.

    Rules differ slightly between states but in New South Wales and Queensland, children don’t need to be kept home from school because of head lice.

    How can I keep my home free of head lice?

    Keeping the house clean and tidy won’t keep head lice away. They don’t care how clean your bed sheets and towels are, or how frequently you vacuum carpets and rugs.

    There may be a risk of head lice transfer on shared pillows, but even that risk is low.

    There’s no need to change the child’s or other family member’s bedding when you find lice in a child’s hair. Research-based recommendations from NSW Health are that “bed linen, hats, clothing and furniture do not harbour or transmit lice or nits and that there is no benefit in washing them as a treatment option”.

    I’ve used nit solution. Why isn’t it working?

    A wide range of products are available at your local pharmacy to treat head lice. Australia’s Therapeutic Goods Administration assesses products to ensure that they are both safe and effective.

    The problem is that most of these products are insecticides that kill the lice on contact but may not kill the eggs.

    Also, if treatments aren’t completed as directed on product labels, some head lice won’t be killed.

    Head lice also seem to be fighting back against the chemicals we’ve been using against them and it’s getting harder to clear children of infestations.

    So how can you get rid of them?

    You’ll need conditioner and a nit comb.
    riopatuca/Shutterstock

    Don’t expect any miracle cures but health authorities in Australia generally recommend the “conditioner and comb” or “wet comb” method. This means you physically remove the lice without the need for chemical applications.

    There are three key steps:

    1. immobilise the lice by applying hair conditioner to the child’s damp hair and leaving it there for around 20 minutes

    2. systematically comb through the hair using a fine toothed “lice comb”. The conditioner and lice can be wiped off on paper towels or tissues. Only adult lice will be collected but don’t worry, we’ll deal with the eggs later

    3. repeat the process twice, about a week apart, to break the life cycle of the head lice.

    Repeating the process after a week allows the remaining eggs to hatch. It sounds counter-intuitive but by letting them hatch, the young lice are easier to remove than the eggs. You just need to remove them before they start laying a fresh batch of eggs and the infestation continues.

    While children are much more likely to have head lice, the reality is that everyone in the household is just as likely to host a head louse or two. You don’t necessarily need everyone to have a treatment but “grown ups” should be on the lookout for lice too.

    Cameron Webb and the Department of Medical Entomology, NSW Health Pathology and University of Sydney, have been engaged by a wide range of insect repellent and insecticide manufacturers to provide testing of products and provide expert advice on medically important arthropods. Cameron has also received funding from local, state and federal agencies to undertake research into various aspects of management of various medically important arthropods.

    – ref. Head lice are getting harder to kill. Here’s how to break the nit cycle – https://theconversation.com/head-lice-are-getting-harder-to-kill-heres-how-to-break-the-nit-cycle-250397

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Trump’s Systemic Takedown of CFPB is Making U.S. Consumers Less Safe & Increasing Financial Risks for Military Families and Veterans

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    WASHINGTON, DC — Despite the fact that the Consumer Financial Protection Bureau (CFPB) has returned over $21 billion to American consumers who were ripped off by abusive and illegal financial activity since 2011, the Trump Administration is working to dismantle the watchdog agency. 

    The Trump White House has moved to dismiss the agency’s entire workforce, canceled the lease for the agency’s headquarters, suspended supervision of big banks, and dismissed open-and-shut cases against predatory lenders for deceiving consumers into paying usurious interest rates.  Two weeks ago, President Trump said in the Oval Office that his goal is for the CFPB to “be totally eliminated.”  Billionaire tycoon Elon Musk—a White House employee who donated $288 million to Trump’s 2024 campaign could personally benefit from rolling back the CFPB’s oversight capabilities— proposed “deleting” the agency.

    U.S. Senator Jack Reed (D-RI) says millions of Americans are more likely to be scammed and ripped off by junk fees after the Trump Administration took recent steps to incapacitate the CFPB, which was set up after the last major financial crisis.  And Reed, who created CFPB’s Office of Servicemember Affairs to help protect military families from financial fraud, says the Trump Administration’s efforts to dismantle the CFPB increase financial risks to service members.

    “Apparently the Trump-Musk administration thinks consumers never get the short end of the stick from unscrupulous businesses, but that’s not the experience of families.  Billionaires don’t have to worry about having enough money to pay the mortgage and feed their kids, but the vast majority of Americans do.  The CFPB exists so that every American has a strong consumer watchdog looking out for their financial well-being, preventing scams, stopping special interests from running amok, and holding offenders accountable.  This is especially true for servicemembers, veterans, and their families, who are disproportionally targeted by predatory lenders and abusive mortgage, debt collection, payday lending, and auto lending schemes and often face greater financial risks than civilian borrowers due to the nature of their military service,” said Senator Reed.  “Since the CFPB was created, it has made real progress taking on special interests, rooting out scammers, and punishing financial abuse, from deceptive mortgages to unfair credit card terms to unscrupulous payday lenders.  We should be building on that progress, not tearing it down and empowering bad actors.”

    The Trump Administration’s short-sighted decision to stop supervision, enforcement, and litigation eliminates key Military Lending Act (MLA) protections that prevent servicemembers from being exploited. The financial and legal protections in these bipartisan laws–most notably a cap on interest rates on mortgages, credit cards, and auto loans–are critical to national defense and military readiness. Troops should focus on their service obligations while on active duty, rather than worrying about making ends meet at home.

    U.S. service members submitted approximately 84,600 complaints to the CFPB in 2023, a 27 percent increase over the previous year.

    Many elderly veterans are targeted for fraud and deceptive schemes, including scams operated by unaccredited veterans benefits claims agents, who charge exorbitant fees for illegitimate assistance with claims.

    At a special CFPB forum in Washington, DC this week, Senator Reed had a chance to speak with Stacey McCall, an Army veteran who was trapped in a doom loop with an auto lender, unable to transfer her title back home after her assignment overseas ended and being unfairly charged for a Toyota vehicle she couldn’t drive.  She worked for nearly a year to resolve it, unsuccessfully, until the CFPB came to the rescue.

    Senator Reed noted his own experience in uniform and how he saw fellow Army soldiers unfairly treated by unscrupulous car dealers: “I discovered how soldiers, sailors, airmen, guardians are used by financial companies a long time ago.  I was the executive officer of a parachute company in the 82nd Airborne Division, and I spent a lot of time talking to my troops and wondering why they signed a contract to buy a car with 250 percent interest. I thought that was a little outrageous.  But more importantly, why would anyone try to exploit a soldier serving the nation and defending the nation?  So, it got me a little bit upset and put it in the back in my mind.”

    Reed cited his experience in the military as one of the reasons for supporting a regulator whose mission is to focus on consumer protection and military families.

    “Whether serving stateside or abroad, U.S. military personnel and their families and veterans deserve financial protection and a watchdog that actively looks out for their financial well-being.  The CFPB’s Office of Servicemember Affairs has been staffed by real people who have done outstanding work providing personalized assistance to those in need.  The Trump Administration is cutting that service off and as a result, more troops will lose their hard-earned paychecks and more families will fall victim to abusive and predatory financial practices,” said Reed.

    The Senate Banking Committee plans to hold a confirmation hearing Thursday for Jonathan McKernan, President Trump’s nominee to lead the CFPB.  Senator Reed says he plans to ask Mr. McKernan about his plans to protect consumers, including military families, and take meaningful enforcement actions against predatory lending.

    MIL OSI USA News –

  • MIL-OSI USA: Reed, Colleagues Demand Answers on VA Firings

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    WASHINGTON, DC – U.S. Senator Jack Reed is teaming up with Senator Jon Ossoff (D-GA), the Ranking Member of the Appropriations Subcommittee on Military Construction and Veterans Affairs (Milcon-VA), to demand answers on how the U.S. Department of Veterans Affairs (VA) will ensure veterans receive the health care and benefits they earned amidst the Trump Administration’s indiscriminate firing of recently hired VA employees.

    Senators Reed and Ossoff were joined by Senator Gary Peters (D-MI) in pressing VA Secretary Doug Collins for answers after the Department fired doctors, nurses, and crisis hotline staff, despite the agency claiming otherwise.

    “VA recently announced the firing of ‘more than 1,000 employees’ and claimed in its press release that ‘mission-critical positions’ were exempt. This claim is false. Clinicians, researchers, and Veterans Crisis Line employees were fired, apparently solely on the basis that they were recent hires,” the Senators wrote.

    “We hope it goes without saying that clinical staff who provide medical care and employees who field calls from suicidal veterans are indeed ‘mission-critical,’” Senator Reed and the group continued. “VA’s indiscriminate termination of such personnel is self-defeating and risks the immediate disruption of veterans’ health care and services. The potential consequences — delayed clinical appointments or neglected phone calls from veterans in crisis — could be life threatening.”

    As part of the inquiry, Senator Reed and the group requested specific answers from Secretary Collins about the locations, positions, and veteran status of staff impacted by the Trump Administration’s Hiring Freeze Executive Order and mass firings, in order to determine whether veterans in Rhode Island will be impacted by the actions.

    Additionally, the Senators asked for data on the termination of VA researchers who were in active and ongoing clinical trials for veterans dealing with cancer, burn pit exposure, opioid addiction, and more.  

    Earlier this month, Senator Reed joined colleagues in pressing Secretary Collins to protect veterans, their families, and VA staff from unprecedented access to sensitive information by Elon Musk and the so-called Department of Government Efficiency (DOGE).

    The VA’s mission is to help veterans successfully transition to civilian life and assists them in their post-service journey by ensuring they have access to the benefits they earned.  The VA offers veterans and their families a wide range of services, including healthcare, housing, education, training, disability compensation and pension assistance, and more.

    Read the full text of the letter here.

    MIL OSI USA News –

  • MIL-OSI China: National high-tech zones host two-thirds of unicorn firms

    Source: China State Council Information Office

    China’s national high-tech industrial development zones have become major bases for startups valued at over 1 billion U.S. dollars, according to the Ministry of Industry and Information Technology.

    The country’s 178 national high-tech industrial development zones were home to approximately 67 percent of China’s unicorn firms by the end of 2024, the ministry told a press conference on Wednesday.

    These zones housed about one-third of the country’s high-tech enterprises and 46 percent of its “little giant” firms, which refer to the novel elites among small and medium-sized enterprises that are engaged in manufacturing, specialize in a niche market and boast cutting-edge technologies.

    Notably, these zones host approximately 60 percent of the country’s publicly listed artificial intelligence (AI) companies and about half of its AI unicorns, the ministry said.

    These zones registered steady economic growth last year, with their total gross domestic product up 7.6 percent year on year in nominal terms.

    These high-tech zones also achieved fruitful results in opening-up and international cooperation, with total import and export volumes of goods and services hitting 9.5 trillion yuan, representing a 2.5 percent year-on-year growth.

    To boost their technological and industrial innovation, the government will combine zone development with strategic national sci-tech resources, and step up its cultivation of gazelle and unicorn companies, according to ministry official Wu Jiaxi. 

    MIL OSI China News –

  • MIL-OSI USA: Fischer Pushes for Legislation to Protect Rural Nursing Homes

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer
    During a speech on the Senate floor, U.S. Senator Deb Fischer (R-Neb.) pushed for passage of her Protecting Rural Seniors’ Access to Care Act, which would overturn a harmful Biden-era rule regulating nursing homes. Senator Fischer reintroduced the legislation today.
    In her remarks, Senator Fischer emphasized how unrealistic the Biden administration’s staffing standards are for rural nursing homes and the detrimental effects of nursing home closures in rural communities. She stressed her commitment to passing this legislation to protect rural seniors from upheaval in their final years.
    Click the image above to watch a video of Senator Fischer’s remarks.
    Click here to download audio 
    Click here to download video
    Following is a transcript of Senator Fischer’s remarks as prepared for delivery:M. President,
    Across America, 1.3 million people live in nursing homes.
    Many of us have parents, grandparents, or other loved ones who rely on these homes for care and community in their golden years.
    We understand just how vital nursing homes are—in urban, suburban, and rural areas alike—to help seniors around our country thrive.
    But unfortunately, a federal rule that is still in place from the Biden era is putting many of America’s nursing homes in jeopardy—especially those in rural communities.
    Last year, under President Biden, the Centers for Medicare & Medicaid Services finalized a rule that placed strict, unrealistic regulations on nursing homes.
    The rule requires a registered nurse to be present 24/7 in these homes, and requires three and a half daily hours of dedicated nursing care for each resident.
    If this rule is not stopped, the regulations will be imposed on every nursing home in America over the next few years.
    It may sound nice to have a nurse on hand in nursing homes every moment of the day or night. But the reality is that these homes are already facing historic staffing shortages.
    Across the country, nursing homes lost more than 200,000 workers from February 2020 to December 2022.
    These shortages have already caused many nursing homes to close down.
    Since 2015, 44 nursing homes and 35 assisted living facilities have shut their doors in Nebraska alone.
    Those closures deprived Nebraskans of over 3,000 beds and hurt seniors who wanted to stay in their home community, close to family and friends.
    The CMS rule will worsen this crisis. According to the agency itself, 75 percent of America’s nursing homes will have to increase staffing to comply with its regulations.
    Under the Biden administration’s rule, nursing homes now have to scramble to find staff in the midst of overwhelming shortages.
    If they fail, they’ll have to shut their doors, depriving seniors of care and housing.
    That’s why today, I reintroduced legislation to stop this Biden-era rule in its tracks.
    My Protecting Rural Seniors’ Access to Care Act will prevent the rule’s misguided requirements from going into full effect.
    It will also establish an advisory panel on the nursing home workforce representing various stakeholders, including members from rural and underserved areas.
    This will ensure that the government hears voices outside the big cities on the coasts when it comes to nursing homes.
    Nursing homes are few and far between in rural areas of our country. If one facility closes, the next closest one could be many miles or even hours away.
    Just one closure could be detrimental to seniors in some of our communities.
    But if our nursing homes stay open, seniors won’t have to face upheaval in their final years.
    They won’t have to leave family and loved ones behind to find a new home.
    They won’t have to experience the loneliness, uncertainty, and depression that can come along with moving to an unfamiliar place.
    My bill advocates for these seniors, their care, and their families. It fights for our rural communities and for nursing homes in Nebraska.
    I’ll keep pushing for this legislation until the president signs it into law—to protect seniors from a rule that would only harm them, their families, and their caretakers.
    Thank you, M. President, I yield the floor.

    MIL OSI USA News –

  • MIL-OSI Australia: ABC Radio Melbourne, Mornings with Rafael Epstein

    Source: Australian Ministers 1

    RAFAEL EPSTEIN: I mentioned that extra money from the Federal Government for airport rail. Does that mean we will actually get airport rail? Catherine King is the Infrastructure Minister. She is the MP in Ballarat as well. Morning, Minister.

    CATHERINE KING: Good morning. It’s great that you’re out at St Albans. It’s a beautiful part of the world.

    RAFAEL EPSTEIN: I haven’t yet sampled all the food. I’ve been to the market, I’m impressed. I’m going to go back there. An extra $2 billion from your government. Does this mean airport rail actually will happen?

    CATHERINE KING: Yes, it does. What this money does, if you remember a year ago, we got a mediator to come in and say, what are the things we can do now to unlock airport rail? And there were three things that were recommended. The first was that the airport, if it wanted to have the station underground, it needed to do the work. That meant the station then said, suddenly said, we don’t want it to go underground, we’re going to go overground. So that’s good. That’s been settled. He then said that we needed to redo the modelling for the Tullamarine Freeway-that’s about to start. And it then said we need to invest and build the Sunshine Precinct, which really is making Sunshine Station, pretty much the Southern Cross of the west. So a really big transport hub that is the centre of rail coming in. And then you build the SRL line out to the airport. So what we’re doing is unlocking the 5 billion that’s already on the table. And then we’ve put 2 billion in to get that Sunshine Precinct started. The Victorians are on board with us. You’ve seen Melbourne Airport yesterday, working constructively with us. We’ve got a little way to go just in terms of settling some of the stuff with the airport. But I am very confident that this will now happen.

    RAFAEL EPSTEIN: Okay. I think the devil in the detail might be a little way to go with the airport. Is the airport the problem?

    CATHERINE KING: I think that we’ve still got to work through issues about- obviously, the airport leases its land from the Commonwealth. It’s got a lease that allows it to have quiet an enjoyment of its leasehold. And so it will come to us and obviously seek an understanding of what the impact is going to be …

    RAFAEL EPSTEIN: [Talks over] They want money, don’t they?

    CATHERINE KING: … But- they may well do. But again, that is, I understand that they are now talking very closely with the Victorian Government. We’ll also come to the, come in and talk with them as well and let you know. My view is we’re all on the same page to try and get this settled. Obviously there’s, as I said, a little way to go just in terms of the detail of that, but everyone is on the same page of saying, we want to get this done. We’re keen to get it done. Let’s try and break the deadlock as best we can. I know my department secretary and the Victorian department new transport secretary, Jeroen, have been talking over the last couple of days. I think they’re both pretty determined people. And we want to get this done. It’s time for Melbourne to have an airport rail.

    RAFAEL EPSTEIN: Yes. It was described as the train line to the jetport in the Victorian Parliament in 1965. So that’s six years before I was born. But you just- you’re the minister federally responsible for this. You used the word deadlock. Are you sure the deadlock is going to be unlocked?

    CATHERINE KING: We’re going to do everything we can. I know the airport wants that to happen. Victorian government does, as does the Federal Government. So when you’ve got will and I think we’ve got a moment in time to get this done now, given that we’ve got all three parties very keen to get this done, we’ve got a, moment in time and that’s going to be up to all of us to do the work, because I think Victorians are a bit sick of the wait, the long wait. I’m a little bit older than you, so I also know how long this has been on Victoria’s books, and we’ve got a moment in time to really get this done. And I’m very determined that we should do it.

    RAFAEL EPSTEIN: Brimbank Council, and that’s St Albans council. They want the rail line to come before the third runway. So that’s been approved, the third runway. Do you think we will get a rail line before the third runway is built?

    CATHERINE KING: Well, the first thing is I’ve just got to be a bit careful here because I have approved as the minister for planning for the airport, the third runway. And Brimbank has now taken that to the- to appeal. So I just have to be a bit careful here. The airport is wanting to build the third runway. I have approved that. It now has to go through the appeal process. They’ll be responsible for building that. My view is we are responsible as transport ministers-Victorian government, Federal government in terms of getting airport rail done. And we are starting the work to make sure that we’ve got everyone on the same page in terms of where it’s going to finish at the airport. And we’ll have timelines when we’ve got all of that agreed, and we’ll make those public when we can.

    RAFAEL EPSTEIN: It’s about 18 minutes to 9 on 774. Catherine King is part of Anthony Albanese’s Labor government. I do want to know what you want from your politicians. You can text or call. If you’re texting in, by the way, text your say, we’ll send you a link. There’s a whole lot of stuff going on the ABC webpage about the impending federal election. Catherine King, as a minister in and part of a Labor Party that’s vying for re-election, there was two and a bit billion for the airport. There was more than a billion for roads. I think there was another 300 million for rail work around Melton. Would that money have come if there hadn’t been a big protest vote against state Labor in Werribee?

    CATHERINE KING: No, it was in planning for quite some time. Danny Pearson, the previous minister and I had been talking about, as we do every budget cycle… what are the investments that are needed? And these have been talked about for a while. So I think it …

    RAFAEL EPSTEIN: [Talks over] It does look a bit reactive.

    CATHERINE KING: Well, it- that’s your call, to say that. But I can absolutely guarantee, what I do when I look at budgets, when I look at the investments that are needed, I work closely with state governments about where they want to see investment. And this has been in discussion literally since the middle of last year. So that happens every budget cycle. The Victorian and every other government in the country all come to me with their wish list. It’s often, billions of dollars over what we can fund because they all want money. And then we make a decision about what we’re going to invest in. So really, this- these decisions are actually made last year that we’re announcing now as part of our budget, our lead up into the budget cycle. And they’re important investments for the state. But what you’ve also seen us do is unlock over in the east, the $2.2 billion for the Suburban Rail Loop.

    RAFAEL EPSTEIN: I’m glad you mentioned it, minister, because I was going to ask you about that. Can I just- can I let everyone know the seat I’m in is a safe Labor seat – the seat of Fraser. There are- I know there are people who share your party room, Catherine King, who are nervous about Labor’s vote in a suburb like St Albans, all the way out to places like Melton. Is there a little part of you- is there a little part of you that dies every time they talk about the Suburban Rail Loop because it’s money in the east, not the west?

    CATHERINE KING: What I see is a state in Victoria who basically… were pretty much abandoned for the last decade, who’ve had to go it alone on building these really big infrastructure projects. I live in the west, I live in Ballarat, and I have to drive- you know every single day I go to- when I go to Melbourne, I’m going through that incredible work that’s been done on the West Gate Tunnel. That is game changing for us over in the west. That will be huge for people like myself who live in Ballarat. I see the North East Link. I’ve stood on that side as well. Both of those projects, not a single federal dollar has gone into either of those. The state has had to 100 per cent fund those. We’ve stepped in other- sorry, other than a small amount in the North East Link, we’ve had- we’ve stepped in and put some more money into the North East Link to bring that, recognising that Victorian taxpayers on their own are paying for these big projects that will be game changing for the way in which we move around the state. Suburban Rail will be a similar sort of project. It’s a big scale project I’ve seen over in the west of the- Western Australia. What these big scale rail projects can do in terms of really opening up new housing opportunities, new business opportunities, new ways in which people actually move around cities. And so that’s really what the Victorian government has been doing, is doing those investments pretty much on its own. And it’s time that the Commonwealth actually helped out a bit with those.

    RAFAEL EPSTEIN: Well, we’ll see what everybody makes of that both the people here in St Albans and on the phone. Just- Peter Dutton, it’s been revealed how much money he’s made buying and selling properties. Doesn’t that mean he actually really understands the property market and maybe he’ll know how to fix it?

    CATHERINE KING: Well, I think the issue- it’s not so much- I don’t begrudge anyone being able to do that, but I think it’s being upfront about it. I think that we saw him, not necessarily make disclosures about that and money in trusts and the like. So I think really he just needs to be open about that. And, it’s aspirational. But it’s really- it’s up to him to sort of explain why these weren’t properly disclosed to people …

    RAFAEL EPSTEIN: [Interrupts] But do you reckon he understands the property market?

    CATHERINE KING: Well, as someone who doesn’t understand the property market, particularly myself, I don’t know. That’s a matter for him. But I think that again, really, it’s up to him to make sure he’s disclosing all of those things appropriately.

    RAFAEL EPSTEIN: Thank you for your time.

    CATHERINE KING: Really good to be with you. Lovely to- hopefully you get a good chance to have a chat to the people of St Albans. My brother in law doesn’t live far from there. It is a fantastic multicultural part of the world.

    MIL OSI News –

  • MIL-OSI China: Chinese FM holds talks with New Zealand deputy PM

    Source: China State Council Information Office

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Deputy Prime Minister and Foreign Minister of New Zealand Winston Peters in Beijing, China, on Feb. 26, 2025. [Photo/Chinese Ministry of Foreign Affairs]

    Chinese Foreign Minister Wang Yi held talks with Deputy Prime Minister and Foreign Minister of New Zealand Winston Peters in Beijing on Wednesday.

    Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that China-New Zealand relations have maintained sound, steady development and have long been at the forefront of China’s relations with Western countries.

    China is ready to work with New Zealand to implement the important consensus reached by the leaders of the two countries, strengthen strategic communication, and push forward their comprehensive strategic partnership, he said.

    Wang noted that the two sides should adhere to the principle of mutual respect and the correct understanding of each other, and become partners with mutual trust. Certain specific differences can be resolved properly through constructive dialogue.

    Wang said that the two countries should upgrade their economic and trade cooperation, launch negotiations on the negative list for trade in services as soon as possible, and work together to create new growth engines such as artificial intelligence and the green economy.

    Wang said that China has implemented a unilateral visa-free travel policy for New Zealand, and hopes that New Zealand will continue to provide a good environment for Chinese students and overseas Chinese citizens.

    The Asia-Pacific region is the shared home of China and New Zealand, and China respects New Zealand’s traditional relations with Pacific island countries, Wang said.

    Noting that China is an important partner of New Zealand, Peters said that New Zealand will, as always, adhere to the one-China policy and looks forward to developing closer exchange practices with China at all levels. New Zealand also stands ready to strengthen exchange and cooperation with China in fields such as the economy, trade, agriculture and defense, as well as Antarctica, and to deepen communication and coordination on regional and international affairs.

    New Zealand is willing to strengthen cooperation with China within multilateral institutions, and to push for the greater development of bilateral relations, Peters said.

    MIL OSI China News –

  • MIL-OSI China: Archaeologists begin to restore northeast platform of Angkor Wat’s Bakan Tower

    Source: China State Council Information Office 3

    Archaeologists on Wednesday started to restore the northeast platform of Angkor Wat’s Bakan Tower in Cambodia’s Angkor Archaeological Park, said an APSARA National Authority (ANA)’s news release.

    A religious ceremony was held at the site to pray for safety and success in the restoration work, the news release said.

    Long Kosal, deputy director-general of the ANA, a government agency responsible for managing, protecting and preserving the Angkor Archaeological Park, said at the event that nearly all parts of the Bakan Tower have been restored, with the exception of this northeast corner.

    He said the restoration work is expected to be completed by mid-2026.

    Kosal said during the restoration process, certain areas of the Bakan Tower were closed to visitors for safety reasons, but access to the entire site remained open, albeit with some restrictions in place.

    “To ensure visitor safety during the restoration process, barriers have been erected around the work areas, and signage has been provided to inform tourists about ongoing repairs and any changes to access routes,” he said.

    The restoration work is carried out by the ANA in partnership with the Korean Heritage Agency, the news release said.

    Built in the 12th century by King Suryavarman II, Angkor Wat is a major temple in the UNESCO-listed Angkor Archaeological Park in the country’s northwest Siem Reap province.

    The 401-square-kilometer Angkor Archaeological Park is home to 91 ancient temples, which were built from the ninth to the 13th centuries.

    The ancient park, which is the kingdom’s most popular tourist destination, attracted a total of 1.02 million international tourists in 2024, generating a gross revenue of 47.8 million U.S. dollars from ticket sales, according to the state-owned Angkor Enterprise. 

    MIL OSI China News –

  • MIL-OSI New Zealand: IHC – Disability survey data highlights inequities that could last generations

    Source: IHC

    New Government figures released today show further evidence of widespread disadvantage for people with intellectual disability.

    IHC New Zealand Director of Advocacy Tania Thomas says data from Stats NZ’s Household Disability Survey, collected following the 2023 Census, paints a concerning picture of the everyday challenges faced by disabled people.

    “This data underscores the systemic disadvantage faced by people with an intellectual disability,” says Tania. “Our own research shows what we already know – disabled people, particularly those with intellectual disabilities, are being left behind in nearly every measure of wellbeing.

    “More than half of disabled New Zealanders are struggling to find adequate housing, put food on the table and meet other basic needs, compared to a third of non-disabled people.

    “While these stats for disabled people are tough, we know it’s even tougher for people with intellectual disability.”

    IHC is set to release a new report in the coming months highlighting the significant hardship experienced by intellectually disabled people, using data from Stats NZ. The report will provide a stark look at the extreme hardship faced by people with an intellectual disability, reinforcing the urgent need for targeted policy responses.

    Tania says these reports aim to ensure policymakers, service providers and the public understand the realities facing some of New Zealand’s most marginalised citizens.

    “Without urgent action, these inequities will persist for generations.”

    In particular, IHC notes from today’s statistics:

    Financial Hardship: More than half (53 percent) of disabled New Zealanders report struggling to meet basic needs like food, housing, and clothing, compared with 33 percent of non-disabled people. Disabled children are also more likely to experience material hardship.
    Poor Health and Wellbeing: 39 percent of disabled adults rate their health as poor, compared with just 6 percent of non-disabled adults. Life satisfaction scores are significantly lower, and disabled adults are more likely to experience discrimination, loneliness, and limited social contact.
    Housing Inequality: Disabled people are more likely to live in poor-quality housing, with 29 percent saying their home is colder than they would like in winter and 25 percent reporting damp living conditions.
    Unmet Support Needs: 62 percent of disabled people report an unmet need for support in areas such as healthcare, education, work accommodations, and accessibility modifications at home.
    Barriers to Employment: 72 percent of unemployed disabled adults want to work, but face barriers such as inflexible workplaces, lack of accommodations, and difficulties accessing training and transport.

    MIL OSI New Zealand News –