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Category: KB

  • MIL-OSI: Global Net Lease Announces Release Date for Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 07, 2025 (GLOBE NEWSWIRE) — Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced today that it will release its financial results for the fourth quarter and year ended December 31, 2024 on Thursday, February 27, 2025 after the close of trading on the New York Stock Exchange.

    The Company will host a conference call and audio webcast on Friday, February 28, 2025, beginning at 11:00 a.m. ET, to discuss the fourth quarter and full year results and provide commentary on business performance. The results will be released before the call which will be conducted by GNL’s management team. A question-and-answer session will follow the prepared remarks.

    Dial-in instructions for the conference call and the replay are outlined below. This conference call will also be broadcast live over the Internet and can be accessed by all interested parties through the GNL website, www.globalnetlease.com, in the “Investor Relations” section. To listen to the live call, please go to the “Investor Relations” section of the Company’s website at least 15 minutes prior to the start of the call to register and download any necessary audio software. For those who are not able to listen to the live broadcast, a replay will be available shortly after the call on the GNL website.

    Conference Call Details

    Live Call
    Dial-In (Toll Free): 1-877-407-0792
    International Dial-In: 1-201-689-8263

    Conference Replay*
    Domestic Dial-In (Toll Free): 1-844-512-2921
    International Dial-In: 1-412-317-6671
    Conference Replay Number: 13750621

    *Available from 2:00 p.m. ET on February 28, 2025 through May 28, 2025.

    About Global Net Lease, Inc.

    Global Net Lease, Inc. is a publicly traded real estate investment trust listed on the NYSE, which focuses on acquiring and managing a global portfolio of income producing net lease assets across the United States, and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.

    Important Notice

    The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks associated with realization of the anticipated benefits of the merger with The Necessity Retail REIT, Inc. and the internalization of the Company’s property management and advisory functions; that any potential future acquisition or disposition by the Company is subject to market conditions and capital availability and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in its forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

    Contacts:
    Investor Relations
    Email: investorrelations@globalnetlease.com
    Phone: (332) 265-2020

    The MIL Network –

  • MIL-OSI: Defiance Launches ORCX, The First 2X Leveraged Single-Stock ETF on Oracle Corporation.

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 07, 2025 (GLOBE NEWSWIRE) — Defiance ETFs is proud to unveil ORCX, the first 2X long ETF for Oracle Corporation. ORCX seeks to provide 200% long daily targeted exposure to Oracle Corporation (NYSE: ORCL) (the “Underlying Security” or “ORCL”). Defiance’s single-stock ETFs provide leveraged exposure to disruptive companies without the need for a margin account.

    “Defiance is excited to launch ORCX, which seeks to provide amplified exposure to Oracle. Oracle’s Stargate initiative is a game-changer, enhancing multi-cloud connectivity and driving seamless data integration across platforms. This innovation enhances Oracle’s position in enterprise AI and cloud infrastructure, presenting a potential growth avenue for investors interested in the evolving tech landscape,” said Sylvia Jablonski, CEO of Defiance ETFs.

    The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues a daily leveraged investment objective, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its Underlying Security. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if the Underlying Security’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Security’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.

    An investment in the ETF is not an investment in Oracle Corporation.

    About Defiance ETFs

    Founded in 2018, Defiance is at the forefront of ETF innovation. Defiance is a leading ETF issuer specializing in thematic, income, and leveraged ETFs.

    Our first-mover leveraged single-stock ETFs empower investors to take amplified positions in high-growth companies, providing precise leverage exposure without the need to open a margin account.

    Important Disclosures

    The fund attempts to provide daily investment results that correspond to two times (200%) the share price performance of an underlying exchange-traded fund (an “Underlying Security”). The Fund is not intended to be used by, and are not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund is very different from most mutual funds and exchange-traded funds. The Fund may not achieve investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Underlying Security, and may return substantially less during such periods. During such periods, the Fund’s actual leverage levels may differ substantially from its intended target, both intraday and at the close of trading, potentially resulting in significantly lower returns.

    The Fund’s investment adviser will not attempt to position a Fund’s portfolio to ensure that the Fund does not gain or lose more than a maximum percentage of its net asset value on a given trading day. As a consequence, if an Underlying Security’s share price referenced by a Fund decreases by more than 50% on a given trading day, the corresponding Fund’s investors could lose all of their money.

    Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

    The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. Please read carefully before investing. A hard copy of the prospectuses can be requested by calling 833.333.9383.

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk.

    Underlying Security Risk. The Fund invests in swap contracts and options that are based on the share price of ORCL. This subjects the Fund to certain of the same risks as if it owned shares of ORCL, even though it does not.

    Indirect Investment in ORCL Risk. ORCL is not affiliated with the Trust, the Fund, or the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares.

    ORCL Trading Risk. The trading price of ORCL may be subject to volatility and could experience wide fluctuations due to various factors. Short sellers may also play a significant role in trading ORCL, potentially affecting the supply and demand dynamics and contributing to market price volatility. Public perception and external factors beyond the company’s control may influence ORCL’s stock price disproportionately.

    ORCL Performance Risk. ORCL may fail to meet its publicly announced guidelines or other expectations about its business, which could cause the price of ORCL to decline. ORCL provides guidance regarding its expected financial and business performance, such as projections regarding sales and production, as well as anticipated future revenues, gross margins, profitability and cash flows. Correctly identifying key factors affecting business conditions and predicting future events is inherently an uncertain process, and the guidance ORCL provides may not ultimately be accurate.

    Software Industry Risk. The software industry can be significantly affected by intense competition, aggressive pricing, technological innovations, and product obsolescence. Companies in the software industry are subject to significant competitive pressures, such as aggressive pricing, new market entrants, competition for market share, short product cycles due to an accelerated rate of technological developments and the potential for limited earnings and/or falling profit margins.

    Operations and Business Risks. ORCL may be unsuccessful in developing and selling new products and services, integrating acquired products and services and enhancing its existing products and services.

    Data Security Risks. If ORCL’s security measures for its products and services are compromised and as a result, its data, its customers’ data or its IT systems are accessed improperly, made unavailable, or improperly modified, ORCL’s products and services may be perceived as vulnerable, its brand and reputation could be damaged, the IT services ORCL provides to its customers could be disrupted, and customers may stop using ORCL’s products and services, any of which could reduce ORCL’s revenue and earnings, increase its expenses and expose it to legal claims and regulatory actions.

    Intellectual Property Risks. ORCL relies on copyright, trademark, patent and trade secret laws, confidentiality procedures, controls and contractual commitments to protect its intellectual property. Despite ORCL’s efforts, these protections may be limited.

    Leverage Risk. The Fund obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage. An investment in the Fund is exposed to the risk that a decline in the daily performance of the Underlying Security will be magnified.

    High Portfolio Turnover Risk. Daily rebalancing of the Fund’s holdings pursuant to its daily investment objective causes a much greater number of portfolio transactions when compared to most ETFs.

    Liquidity Risk. Some securities held by the Fund may be difficult to sell or be illiquid, particularly during times of market turmoil. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation or regulatory changes inside or outside the United States.

    Derivatives Risk. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, leverage, imperfect daily correlations with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Compounding and Market Volatility Risk. The Fund has a daily leveraged investment objective and the Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is very likely to differ from two times (200%) the Underlying Security’s performance, before the Fund’s management fee and other expenses.

    Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security, may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Diversification does not ensure a profit nor protect against loss in a declining market.

    Brokerage Commissions may be charged on trades.

    Distributed by Foreside Fund Services, LLC

    Contact Information:

    David Hanono

    833.333.9383
    info@defianceetfs.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9a2f6854-1043-4edc-8250-60065d17e319

    The MIL Network –

  • MIL-OSI: PhenixFIN Corporation Announces Fiscal First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    NAV per share $80.59

    NEW YORK, Feb. 07, 2025 (GLOBE NEWSWIRE) — PhenixFIN Corporation (NASDAQ: PFX, PFXNZ) (the “Company”), a publicly traded business development company, today announced its financial results for the fiscal first quarter for its year ending September 30, 2025.

    Highlights

    • First quarter total investment income of $6.2 million; net investment income of $1.6 million
    • Net asset value (NAV) of $162.8 million, or $80.59 per share as of December 31, 2024
    • Weighted average yield was 13.3% on debt and other income producing investments
    • On October 1, 2024, the Company completed the merger and reorganization of The National Security Group, Inc. (“NSG”) an Alabama based insurance holding company
    • On February 6, 2025, the Board declared a special dividend of $1.43 per share to be paid on February 18, 2025, to stockholders of record as of February 17, 2025.

    David Lorber, Chief Executive Officer of the Company, stated:

    “We have had a great start to fiscal year 2025 as we continue to remain focused on executing our strategic priorities which include growing our platforms, pursuing compelling investment opportunities and increasing NAV per share.”

    Selected First Quarter 2025 Financial Results for the Quarter Ended December 31, 2024:

    Total investment income was $6.2 million of which $5.9 million was attributable to portfolio interest and dividend income, and $0.3 million was attributable to fee and other income.

    Total net expenses were $4.6 million and total net investment income was $1.6 million.

    The Company recorded a net realized gain of $1.2 million and a net unrealized loss of $0.3 million.  

    Portfolio and Investment Activities for the Quarter Ended December 31, 2024:

    The fair value of the Company’s investment portfolio totaled $300.1 million and consisted of 43 portfolio companies.

    The Company had certain investments in 3 portfolio companies on non-accrual status with a fair market value of $1.5 million.

    Liquidity and Capital Resources

    As of December 31, 2024, the Company had $7.2 million in cash and cash equivalents, $59.2 million in aggregate principal amount of its 5.25% unsecured notes due 2028 and $84.0 million outstanding under the Credit Facility.

    ABOUT PHENIXFIN CORPORATION

    PhenixFIN Corporation is a non-diversified, internally managed closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. We completed our initial public offering and commenced operations on January 20, 2011. The Company has elected, and intends to qualify annually, to be treated, for U.S. federal income tax purposes, as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Effective January 1, 2021, the Company operates under an internalized management structure.

     SAFE HARBOR STATEMENT AND OTHER DISCLOSURES

    This press release contains “forward-looking” statements. Such forward-looking statements reflect current views with respect to future events and financial performance, and the Company may make related oral forward-looking statements on or following the date hereof. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including among other things, PhenixFIN’s ability to execute on its strategic initiatives, deliver value to shareholders, increase investment activity, increase net investment income, implement its investment strategy and achieve its investment objective, source and capitalize on investment opportunities, grow its net asset value per share and perform well in the prevailing market environment, the ability of our portfolio companies, including National Security Group, Inc. to perform well and generate income and other factors that are enumerated in the Company’s periodic filings with the Securities and Exchange Commission. PhenixFIN Corporation disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.

    Past performance is not a guarantee of future results. The press release contains unaudited financial results. For ease of review, we have excluded the word “approximately” when rounding the results. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell shares of PhenixFIN Corporation’s common stock. There can be no assurance that PhenixFIN Corporation will achieve its investment objective. 

    For PhenixFIN investor relations, please call 212-859-0390. For media inquiries, please contact info@phenixfc.com.

    PHENIXFIN CORPORATION
    Consolidated Statements of Assets and Liabilities
     
        December 31,
    2024
    (Unaudited)    		     September
    30,
    2024    		  
    Assets:            
    Investments at fair value                
    Non-controlled, non-affiliated investments (amortized cost of $160,480,488 and $143,179,354 respectively)   $ 160,343,098     $ 142,233,426  
    Affiliated investments (amortized cost of $20,564,242 and $20,564,242, respectively)     13,861,599       14,750,785  
    Controlled investments (amortized cost of $152,223,817 and $97,016,429, respectively)     125,889,697       70,931,647  
    Total Investments at fair value     300,094,394       227,915,858  
    Cash and cash equivalents     7,187,110       67,571,559  
    Receivables:                
    Interest receivable     1,313,520       1,313,598  
    Other receivable     16,640       65,838  
    Dividends receivable     105,804       23,468  
    Due from Affiliate     1,040,512       90,500  
    Deferred tax asset     887,099       887,099  
    Deferred financing costs     625,323       760,680  
    Other assets     514,630       1,066,323  
    Prepaid share repurchase     101,115       101,115  
    Receivable for investments sold     41,897       2,955,775  
    Total Assets   $ 311,928,044     $ 302,751,813  
                     
    Liabilities:                
    Credit facility and notes payable (net of debt issuance costs of $1,417,816 and $1,510,815, respectively)   $ 141,743,682     $ 135,723,636  
    Payable for investments purchased     3,688,247       –  
    Accounts payable and accrued expenses     2,391,430       5,570,150  
    Interest and fees payable     1,029,334       768,043  
    Other liabilities     256,426       294,063  
    Due to Affiliate     46,995       88,148  
    Total Liabilities     149,156,114       142,444,040  
                     
    Commitments and Contingencies (see Note 8)                
                     
    Net Assets:                
    Common Shares, $0.001 par value; 5,000,000 shares authorized; 2,723,709 shares issued; 2,019,778 and 2,019,778 common shares outstanding, respectively     2,020       2,020  
    Capital in excess of par value     704,909,588       704,909,588  
    Total distributable earnings (loss)     (542,139,678 )     (544,603,835 )
    Total Net Assets     162,771,930       160,307,773  
    Total Liabilities and Net Assets   $ 311,928,044     $ 302,751,813  
                     
    Net Asset Value Per Common Share   $ 80.59     $ 79.37  
    PHENIXFIN CORPORATION
    Consolidated Statements of Operations
    (Unaudited)
     
        For the Three Months Ended
    December 31,    		  
        2024     2023  
    Interest Income:            
    Interest from investments            
    Non-controlled, non-affiliated investments:                
    Cash   $ 2,824,594     $ 2,682,143  
    Payment in-kind     354,681       90,674  
    Affiliated investments:                
    Cash     –       455,692  
    Payment in-kind     –       –  
    Controlled investments:                
    Cash     588,195       286,238  
    Payment in-kind     –       149,967  
    Total interest income     3,767,470       3,664,714  
    Dividend income                
    Non-controlled, non-affiliated investments     596,298       665,526  
    Affiliated investments     142,495       –  
    Controlled investments     1,399,350       1,348,200  
    Total dividend income     2,138,143       2,013,726  
    Interest from cash and cash equivalents     227,032       41,108  
    Fee income (see Note 9)     11,064       2,108  
    Other income     72,774       22  
    Total Investment Income     6,216,483       5,721,678  
                     
    Expenses:                
    Interest and financing expenses     2,545,811       1,542,061  
    Salaries and benefits     1,028,617       1,424,992  
    Professional fees, net     418,013       357,554  
    Directors fees     204,000       187,500  
    Insurance expenses     88,421       97,756  
    Administrator expenses (see Note 6)     84,355       77,852  
    General and administrative expenses     221,793       325,061  
    Total expenses     4,591,010       4,012,776  
    Net Investment Income     1,625,473       1,708,902  
                     
    Realized and unrealized gains (losses) on investments                
    Net realized gains (losses):                
    Non-controlled, non-affiliated investments     1,168,670       229,804  
    Affiliated investments     –       –  
    Controlled investments     –       –  
    Total net realized gains (losses)     1,168,670       229,804  
    Net change in unrealized gains (losses):                
    Non-controlled, non-affiliated investments     808,538       1,364,243  
    Affiliated investments     (889,186 )     2,431,263  
    Controlled investments     (249,338 )     (1,200,373 )
    Total net change in unrealized gains (losses)     (329,986 )     2,595,133  
    Deferred tax benefit (expense)     –       –  
    Total realized and unrealized gains (losses)     838,684       2,824,937  
                     
    Net Increase (Decrease) in Net Assets Resulting from Operations   $ 2,464,157     $ 4,533,839  
                     
    Weighted average basic and diluted earnings per common share   $ 1.22     $ 2.19  
    Weighted average common shares outstanding – basic and diluted (see Note 11)     2,019,778       2,072,694  

    The MIL Network –

  • MIL-OSI: Prairie Operating Co. Announces Acquisition of DJ Basin Assets from Bayswater Exploration and Production for Approximately $600 Million

    Source: GlobeNewswire (MIL-OSI)

    • Adds ~24,000 net acres in Weld County and ~26 mboepd of oil-weighted (69% liquids) net production
    • Adds 77.9 MMboe and ~$1.1 Billion in Proved PV-10 value(1)(2)
    • Attractive valuation, highly accretive across key cash flow metrics
    • Significantly increases 2025 production, revenue and adjusted EBITDA guidance

    HOUSTON, Feb. 07, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. (Nasdaq: PROP) (the “Company,” “Prairie,” “we,” “our” or “us”), today announced it has entered into a definitive purchase and sale agreement to acquire (the “Bayswater Acquisition”) certain assets (the “Bayswater Assets”) from Bayswater Exploration and Production and certain of its affiliated entities (collectively “Bayswater”), a premier operator in the Denver-Julesburg Basin (the “DJ Basin”).   The transaction will significantly increase the Company’s operational scale and footprint in the DJ Basin and add highly economic drilling locations.

    The purchase price of the acquisition is $602.75 million. The transaction consideration will consist of cash and up to ~5.2 million shares of Prairie common stock. Prairie anticipates funding the cash portion of the consideration, net of expected purchase price adjustments, through a combination of cash on hand and borrowings under the Company’s credit facility, pursuant to which the Company has received commitments to expand its borrowing base to $475 million as of the closing of the Bayswater Acquisition, and proceeds from one or more capital markets transactions, subject to market conditions and other factors. The Company expects to complete the Bayswater Acquisition in February 2025, subject to customary closing conditions, with an economic effective date of December 1, 2024.

    “This acquisition delivers compelling strategic and financial advantages and reflects our disciplined, but opportunistic approach to rapidly expand our footprint in the DJ Basin,” said Edward Kovalik, Chairman and CEO of Prairie Operating Co. “Not only will the addition of these high-quality assets be immediately accretive, but they will also accelerate our development plans, enhance operational efficiencies, and drive sustainable, long-term value creation for our shareholders.”

    Gary Hanna, President of the Company, added, “This acquisition represents a transformative milestone for Prairie Operating Co. by significantly expanding our footprint and production of oil rich assets in the DJ Basin. Upon closing, we will be well-positioned to deliver significant organic production growth in 2025 and beyond.”

    Key Prairie Highlights, Pro Forma for the Transaction:

    • Transformational Increase in Oil-Weighted Production: ~27,500 net BOEPD (69% liquids)
    • Expanded Footprint / Inventory Life: ~54,000 net acres, including ~600 highly economic drilling locations, providing ~10 years of drilling inventory
    • Significantly Increases Free Cash Flow: Expected to be immediately accretive to per-share cash flow metrics
    • Maintains Strong Balance Sheet: Expected leverage ratio of ~1.0x at closing with upsized committed credit facility and ample liquidity
    • Meaningful Infrastructure Synergies: Leverages existing infrastructure to drive operational efficiencies and reduce development costs
    • Attractive Valuation Metrics(1): PV-20 of Proved Developed Producing (“PDP”) reserves and $23,500 per net flowing BOE

    2025 Updated Guidance

    Upon the closing of this acquisition, the combined Company’s 2025 pro forma outlook includes:

    • Average Daily Production: 29,000 – 31,000 BOEPD
    • Capital Expenditures (Capex): $300 million – $320 million
    • Adjusted EBITDA(3): Expected to range between $350 million and $370 million

    *Based on an active hedging program and an average working interest (“WI”) of 75% or greater.

    Estimated Reserve Data

    A summary of the estimated reserves and values of our properties (as adjusted to give effect to the Bayswater Acquisition), as of November 30, 2024, and as determined by Cawley, Gillespie & Associates, the Company’s independent Petroleum Reserve Evaluation Firm, using SEC pricing as of November 30, 2024 is set forth below.

      Our Pro Forma Net Reserves  
    Reserve Category Oil
    (MBbl)    		 NGL
    (MBbl)    		 Gas
    (MMcf)    		 Total
    (MBoe)    		 Liquids
    (%)    		 PV-10
    ($MM)(4)
    Proved Developed Producing (PDP) 23,581 14,810 113,611 57,326 67 % $860
    Proved Developed Not Producing (PDNP) 173 26 216 235 85 % $5
    Proved Undeveloped (PUD) 25,547 8,970 72,088 46,531 74 % $495
    Total Proved 49,301 23,806 185,914 104,093 70 % $1,360

    (3) Adjusted EBITDA is a non-GAAP financial measure. Please see “Non-GAAP Financial Measures” below.

    (4) PV-10 is a non-GAAP financial measure. Please see “Non-GAAP Financial Measures” below.

    Webcast Access

    Date: Friday, February 7, 2025
    Time: 10:00am Eastern Time (9:00am Central Time)
    Participant Listening: 877-407-9219 / +1 201-689-8852

    The webcast may be accessed from the “Press & Media” page of Prairie’s website at: https://www.prairieopco.com/media

    To participate via telephone, please register in advance here: https://event.choruscall.com/mediaframe/webcast.html?webcastid=DUzJKsjj

    Participants can use Guest dial-in numbers above and be answered by an operator OR click the Call meTM link for instant telephone access to the event: https://hd.choruscall.com/InComm/?callme=true&passcode=13751732&h=true&info=company&r=true&B=6

    The Call me™ link will be made active 15 minutes prior to scheduled start time. Upon registration, all telephone participants will be joined to the conference call in listen only. A replay of the webcast will be archived on the Company’s website for two (2) weeks following the call.

    Advisors

    Citi is serving as exclusive financial advisor and Norton Rose Fulbright US LLP is serving as legal advisor to Prairie. Citibank N.A. is also leading the committed financing under the Company’s anticipated expanded credit facility, with Latham & Watkins LLP as legal advisor to Citibank N.A.

    About Prairie Operating Co.

    Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil and natural gas resources in the United States. The Company’s assets and operations are concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, with a primary focus on the Niobrara and Codell formations. The Company is committed to the responsible development of its oil and natural gas resources and is focused on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation. More information about the Company can be found at www.prairieopco.com.

    Reconciliation of Non-GAAP Measures

    Adjusted EBITDA

    This press release also contains Adjusted EBITDA, which is a financial measure not presented in accordance with U.S. GAAP. Adjusted EBITDA is used by management to evaluate the performance of our business, make operational decisions, and assess our ability to generate cashflows.  Management believes Adjusted EBITDA provides investors with helpful information to better understand the underlying performance trends of our business, facilitate period-to-period comparisons, and assess the company’s operating results.

    Adjusted EBITDA is derived from Net income and is adjusted for income tax expense, depreciation, depletion, and amortization (DD&A), accretion of asset retirement obligations, non-cash stock-based compensation, and loss on unrealized commodity derivatives. We adjust net income for the items listed above to arrive at Adjusted EBITDA because these amounts can vary substantially between periods and companies within our industry depending upon accounting methods, book values of assets, capital structures, and the method by which assets were acquired. Additionally, the presentation of Adjusted EBITDA does not imply that our operating results will not be affected by unusual or non-recurring items. 

    Adjusted EBITDA has limitations as an analytical tool, including that it excludes certain items that affect our reported financial results. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, GAAP Net income or as an indicator of our operating performance or liquidity. Additionally, our calculation of Adjusted EBITDA may not be comparable to similarly titled measures used by other companies.

    The following table reconciles Adjusted EBITDA to Net Income, which is the most directly comparable financial measure prepared in accordance with GAAP.

    Reconciliation of Adjusted EBITDA to Net Income (in Millions)

    PV-10

    This press release contains PV-10, which is a financial measure not presented in accordance with U.S. GAAP. PV-10 is derived from the Standardized Measure of Discounted Future Net Cash Flows (“Standardized Measure”), which is the most directly comparable GAAP financial measure for proved reserves. PV-10 is a computation of the Standardized Measure on a pre-tax basis. PV-10 is equal to the Standardized Measure at the applicable date, before deducting future income taxes discounted at 10%. Neither PV-10 nor standardized measure represents an estimate of the fair market value of the applicable crude oil, natural gas and NGLs properties. We believe that the presentation of PV-10 is relevant and useful to our investors as supplemental disclosure to the Standardized Measure, or after-tax amount, because it presents the discounted future net cash flows attributable to our reserves before considering future corporate income taxes and our current tax structure. While the standardized measure is dependent on the unique tax situation of each company, PV-10 is based on prices and discount factors that are consistent for all companies.

    The following table reconciles PV-10 to the standard measure of discounted future net cash flows, which is the most directly comparable GAAP financial measure:

    Reconciliation of PV-10 to the Standard Measure of Discounted Future Net Cash Flows

    Forward-Looking Statements

    The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, are forward-looking statements, including statements about our ability to complete and successfully finance the Bayswater Acquisition, our financial performance following the Bayswater Acquisition, estimates of oil, natural gas and NGLs reserves, estimates of future oil, natural gas and NGLs production, and the Company’s updated guidance set forth in this press release. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. The Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company, including our ability to satisfy the conditions to closing the Bayswater Acquisition in a timely manner or at all, our ability to successfully finance the Bayswater Acquisition, our ability to recognize the anticipated benefits of the Bayswater Acquisition, the possibility that we may be unable to achieve expected free cash flow accretion, production levels, drilling, operational efficiencies and other anticipated benefits of the Bayswater Assets within the expected time-frames or at all, and our ability to successfully integrate the Bayswater Assets . There may be additional risks not currently known by the Company or that the Company currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact the Company’s expectations can be found in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K/A filed with the SEC on March 20, 2024, and any subsequently filed Quarterly Report on Form 10-Q and Current Report on Form 8-K. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

    Investor Relations Contact:
    Wobbe Ploegsma
    info@prairieopco.com
    832.274.3449

    Tables accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/2887d588-6948-4d53-b85e-af27741c6839
    https://www.globenewswire.com/NewsRoom/AttachmentNg/6a82a869-eea3-4d69-b087-417457b9dc27

    The MIL Network –

  • MIL-OSI Europe: Sweden and the Republic of Moldova deepen defence cooperation

    Source: Government of Sweden

    Sweden and the Republic of Moldova deepen defence cooperation – Government.se

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    Article from Ministry of Defence, Ministry for Foreign Affairs

    Published

    On 4 February Minister for Defence Pål Jonson and Minister for Civil Defence Carl-Oskar Bohlin received the Republic of Moldova’s Minister of Defence Anatolie Nosatîi at Karlberg Palace.

    • Minister for Civil Defence Carl-Oskar Bohlin, Minister of Defense of the Republic of Moldova Anatolie Nosatîi and Minister for Defence Pål Jonson at Karlberg Palace.

      Photo: Niklas Forsström/Government Offices

    • The flag of the Republic of Moldava and the flag of Sweden.

      Photo: Niklas Forsström/Government Offices

    • Minister of Defense of the Republic of Moldova Anatolie Nosatîi and Minister for Defence Pål Jonson at Karlberg Castle.

      Photo: Niklas Forsström/Government Offices

    The aim of the visit was to intensify and expand defence cooperation between Sweden and the Republic of Moldova and signal robust support for the Republic of Moldova’s territorial integrity and sovereignty.

    In addition to bilateral defence cooperation, issues regarding the security situation in the region, the war in Ukraine and related EU and NATO matters were discussed.

    Representatives of the Swedish Armed Forces, the Defence Materiel Administration and the Psychological Defence Agency also attended the meeting. 

    During his visit to Stockholm Mr Nosatîi also met Minister for Foreign Affairs Maria Malmer Stenergard, Diana Janse, State Secretary to Minister for International Development Cooperation and Foreign Trade Benjamin Dousa, and representatives of the Riksdag.

    The visit followed the Government’s 30 January proposal to donate m/86 AT4 anti-tank weapons to the Republic of Moldova within the framework of the additional amending budget that includes the 18th support package to Ukraine.

    Related

    The meeting on 4 February was held after Sweden and the Republic of Moldova signed a Letter of Intent on 20 August 2024 on deepened defence cooperation during a visit to the Republic of Moldova by Minister for Defence Pål Jonson and Minister for Civil Defence Carl-Oskar Bohlin. The Letter of Intent enables both countries’ armed forces and other defence agencies to expand existing cooperation and promote new initiatives. The Letter of Intent enables both countries’ armed forces and other defence agencies to expand existing cooperation and promote new initiatives.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Meet The Buyer event – connecting local suppliers with key buyers

    Source: City of Oxford

    Friday, 7 February 2025

    Oxford Town Hall – 12 February 2025.

    Local businesses and suppliers are invited to attend the highly anticipated the Meet The Buyer event, set to take place at Oxford Town Hall on 12 February, from 9:30am to 4pm.

    This exclusive event provides an invaluable opportunity for suppliers of goods and services within the county to engage directly with buyers from Oxford City Council. Attendees will gain first-hand insights into the procurement processes, learn about upcoming contract opportunities, and build valuable connections with both public sector buyers and fellow suppliers.

    Additionally, the event will offer a key session on the New Procurement Act, coming into force on 24 February, ensuring businesses are well-prepared for upcoming legislative changes.

    This event is free to attend and is a must for any local business looking to expand its opportunities in the public sector.

    Event details

    • Date: 12 February 2025
    • Location: Oxford Town Hall
    • Time: 9:30am to 4pm
    • Admission: free (registration required).

    For more information and to register, visit Meet the Buyer 2025.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Coming up next week at the London Assembly W/C 10 February

    Source: Mayor of London

    PUBLIC MEETINGS

    Monday 10 February

    Major sporting events in London

    Economy, Culture and Skills Committee – Chamber, City Hall, Kamal Chunchie Way, 2pm

    Analysis from 2021 by London & Partners found that the total economic value generated by the 305 major sporting events held in London between 2017 and 2020 was £1.03 billion.

    The Economy, Culture and Skills Committee will meet to discuss the economic impact of major sporting events in London, looking at the role of the Mayor in bringing more sporting events to the city.

    The guests are:

    Panel 1: 2:00pm-3:30pm:

    • Nick Bitel, Chief Executive Officer, London Marathon Group
    • Mark Camley, Executive Director of Park and Venues, London Legacy Development Corporation
    • Esther Britten MBE, Head of Events and External Affairs, UK Sport
    • Councillor Muhammed Butt, Leader, London Borough of Brent

    Panel 2: 3:35pm-5:00pm:

    • Howard Dawber, Deputy Mayor for Business and Growth
    • Katie Morrison, Interim Assistant Director, External Relations, Greater London Authority (GLA)
    • James Fitzgerald, Host City Programmes Director, GLA
    • Rose Wangen-Jones, Managing Director, Marketing, Destination & Commercial, London & Partners

    MEDIA CONTACT: Anthony Smyth on 07763 251727 / [email protected]

    Tuesday 11 February

    Planning and tall buildings

    Planning and Regeneration Committee – Chamber, City Hall, Kamal Chunchie Way, 10am

    A lot of work looking at the experiences of residents in tall buildings originated in the 1960s and 1970s and focused on social housing. In recent decades, there has been a shift in the types of homes being delivered by tall buildings towards private accommodation.

    The Planning and Regeneration Committee will ask the Deputy Mayor for Planning, and guests from the Greater London Authority (GLA) and London Boroughs about how they set policies and take decisions around the delivery of tall buildings in London.

    The guests are:

    Panel 1: 10am – 11.15am:

    • Michael Ritchie, Place Shaping Manager, London Borough of Tower Hamlets
    • Michael Forrester, Head of Development Management, London Borough of Lewisham

    Panel 2: 11.30am – 12.30pm:

    • Jules Pipe CBE, Deputy Mayor for Planning, Regeneration and the Fire Service
    • Alan Smithies, Principal Strategic Planner, GLA

    MEDIA CONTACT: Josh Hunt on 07763 252310 / [email protected]

    Wednesday 12 February

    Q&A with the Met Commissioner

    Police and Crime Committee – Chamber, City Hall, Kamal Chunchie Way, 10am

    In the Met Police Commissioner’s December report for the London Policing Board, it was highlighted that a series of “tough choices” may have to be implemented to meet the expected budget gap of £450m in the Met’s 2025-26 budget.

    The Police and Crime Committee will question the Met Police Commissioner on these “tough choices”, whether they will save the amount of money required, and how the Met will secure further funding to minimise these cuts. The Committee will also explore grooming gangs and stop and search. 

    The guests are:

    • Sir Mark Rowley, Commissioner of the Metropolitan Police
    • Kaya Comer-Shwartz, Deputy Mayor for Policing and Crime

    MEDIA CONTACT: Anthony Smyth on 07763 251727 / [email protected]

    Thursday 13 February

    London Fire Brigade Plenary

    All Assembly meeting – Chamber, City Hall, Kamal Chunchie Way, 10am

    What are the key priorities for the London Fire Brigade this year?

    Assembly Members will ask questions about building safety, Lithium-ion battery powered E-bikes and E-scooters, EV buses fire risk, home fire safety visits and more.

    The guests are:

    • Jules Pipe CBE, Deputy Mayor for Planning, Regeneration and the Fire Service
    • Andy Roe KFSM, London Fire Brigade Commissioner

    MEDIA CONTACT: Alison Bell on 07887 832 918 / [email protected] 

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Dmitry Patrushev and Lipetsk Region Governor Igor Artamonov discussed the development of the agro-industrial complex in the region

    Translartion. Region: Russians Fedetion –

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

    Deputy Prime Minister Dmitry Patrushev held a working meeting with Lipetsk Region Governor Igor Artamonov. The meeting discussed issues of developing the agro-industrial complex, ecology and nature management.

    Working meeting of Dmitry Patrushev with the Governor of Lipetsk region Igor Artamonov

    February 7, 2025

    Working meeting of Dmitry Patrushev with the Governor of Lipetsk region Igor Artamonov

    February 7, 2025

    Working meeting of Dmitry Patrushev with the Governor of Lipetsk region Igor Artamonov

    February 7, 2025

    Previous news Next news

    Working meeting of Dmitry Patrushev with the Governor of Lipetsk region Igor Artamonov

    Dmitry Patrushev noted that Lipetsk Region invariably remains among the leaders in the development of the agro-industrial complex. The region ranks first in Russia in the production of greenhouse vegetables in agricultural organizations and processed potatoes.

    Igor Artamonov emphasized that the Lipetsk region is attractive to investors. The volume of invested funds from 2019 to 2024 amounted to more than 200 billion rubles, more than 4 thousand jobs were created. The volume of agricultural exports of the region has increased by 2.5 times since 2019, which allowed the region to enter the top ten subjects of the Russian Federation in terms of export volume of agricultural products.

    The meeting raised issues of education. There are 18 agricultural classes in the Lipetsk Region. 80% of their graduates become students of universities and colleges specializing in agricultural fields. The region has opened the first “Agrokvantorium” in Russia, where children get acquainted with agricultural machinery.

    The meeting also discussed issues of environmental management. Lipetsk Region has successfully completed the implementation of the national project “Ecology” and shows good results in the field of solid municipal waste management – 53% of MSW is processed at disposal facilities.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: “The situation in Russian science looks stable and positive”

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    © Higher School of Economics

    On the eve of Russian Science Day, TASS held a press conference dedicated to the results of the third round of the comprehensive study “We do science in Russia” He was conducted Institute for Statistical Research and Economics of Knowledge (ISSEZ) HSE. The authors of the study and experts representing higher education, research institutes and industry spoke about the state of domestic science, the drivers of its development, the dynamics of change and the barriers that need to be overcome.

    The first “Making Science in Russia” study was conducted in 2017, the second round took place in 2022, and the third from October to November 2024.

    Present and future

    As explained by the first vice-rector, director of the HSE ISSEK Leonid Gokhberg, the basis of the study was the results of a survey of the heads of 719 universities and leading scientific organizations, which make up almost the entire core of Russian science. These are “the key players who make the weather in this area and determine its development with their daily practices.”

    The assessment was carried out on 87 factors grouped into 8 large blocks, which made it possible to determine the sentiment index in Russian science. In the second step, the researchers identified 47 measures of state scientific and technical policy, assessed their effectiveness on a number of parameters and rated them.

    “The situation in Russian science looks stable and positive, there is progress compared to previous rounds of the study,” Leonid Gokhberg noted. For example, assessments related to the institutional conditions of functioning of universities and scientific organizations have improved – first of all, we are talking about increasing awareness of policy measures and regulation of important aspects of their daily life (regulation of state assignments and state purchases, tender procedures, etc.).

    Representatives of the scientific sphere assess the prospects for the coming years even more optimistically. Expectations are connected with further increase in the efficiency of scientific research, cooperation with business and stimulation of investment inflow from commercial structures, development of the information base of science.

    At the same time, the situation looks different in different sectors. “Universities are feeling the best, and this correlates with the measures of their support that have been launched in recent years and have had a rather positive impact on the development of university science,” Leonid Gokhberg stated.

    Financing

    The director continued the topic Center for Statistics and Monitoring of Science and Innovation ISSEK Ekaterina Streltsova, touching upon “the most sensitive issue” – funding of science.

    This block received the most restrained assessment from the scientific community, but this does not mean that everything is bad. Science is financed from many sources, and the study showed that the situations with different sources differ for different organizations. Key sources of budgetary financing are assessed more restrainedly in general, since they may not be very relevant for non-profit organizations that participated in the survey (for example, grants from Russian scientific foundations).

    “We see a significant improvement in the situation for all types of organizations compared to 2022, as budget expenditures on science are steadily increasing. This year, almost 3% of federal budget funds are planned to be allocated to support science, this is the highest figure in the last ten years, and we hope that funding for science will continue to increase,” Ekaterina Streltsova emphasized.

    Organizations of all types were skeptical about the provision of funding from state companies and especially from business, and, in her opinion, this is a predictable result given the current structure of funding for Russian science. In recent years, the business sector has provided about 30% of the costs of science, and although this figure has increased compared to 2010, measures are needed to stimulate investment.

    Of all the sources of funds, foreign organizations received the lowest ratings. “It was these ratings that influenced the overall score for the entire area and pulled it down, and this is understandable,” says Ekaterina Streltsova. “Foreign resources have never been significant for the development of Russian science; in the last five to six years, the share of these sources in the total volume of expenses has not exceeded 2.5%.”

    Personnel and equipment

    Ekaterina Streltsova noted that the human resources potential received a positive assessment for most factors: the managers are satisfied with both the quantitative and qualitative characteristics of the scientific personnel they work with. Compared to 2022, some values have improved due to the implementation of a whole range of measures. Difficulties are associated with attracting foreign researchers and participation in international projects.

    The assessment of material and technical conditions is also quite stable: organizations are generally optimistic about the availability of scientific equipment and consumables, but many note the complication of supplies from abroad. The availability of access to specialized domestic software and Russian AI-based systems is assessed cautiously, but it is in this area that expectations are high and positive.

    The weak point remains the commercialization of results – their promotion and implementation in the economy. For example, universities and research organizations are actively involved in patent activities, but their contribution to the development of licensing activities in the domestic market is still limited. Obviously, this is due, among other things, to insufficient dialogue between science and business. “Although the situation has improved somewhat compared to 2022, we see that the intensity of interaction with business in the form of joint laboratories, basic departments, and so on is still assessed rather restrainedly, which, of course, requires further implementation, including of the measures already in force,” concluded Ekaterina Streltsova.

    “A most interesting analysis”

    The results of the study “Making Science in Russia” were commented on by representatives of science, higher education and industry.

    Director of the Joint Institute for Nuclear Research, Academician of the Russian Academy of Sciences Grigory Trubnikov noted that HSE scientists conducted “a most interesting analysis.” In his opinion, over three rounds of research, “analytics has taken off,” it has a large audience, and the data can be trusted.

    Commenting on the conclusions about science funding, he put forward the hypothesis that the problem is not that it should be increased, say, twofold, but that “science should be done faster” — this is the main request of the scientific community. If we remove the obstacles associated with control, procurement procedures, academic mobility, and foreign restrictions, then the competitiveness of Russian science will increase.

    Grigory Trubnikov also noted that in terms of international cooperation, everything depends on the specific organization, and things are going well at his institute in Dubna – cooperation with China, Mexico, Brazil is developing, and this is a noticeable trend in general.

    Stanislav Terekhov, head of the laboratory of antibiotic resistance at the Institute of Bioorganic Chemistry of the Russian Academy of Sciences, highly praised the existing measures to support science, including the creation of youth laboratories (his laboratory is one of them). In his opinion, this allows the best personnel to be retained in the country and students and postgraduates to be integrated into laboratory practice, but state support should be supplemented by private initiatives.

    Science and Business

    Director of the Institute of Translational Medicine and Biotechnology at Sechenov University Vadim Tarasov emphasized the links between science and business in his speech. In his opinion, the Priority 2030 program “gave universities a huge opportunity to be flexible in their interactions with industry,” and now it is necessary to set goals for 10-15 years ahead, understanding what technologies the country needs to ensure sovereignty, and which ones are worth entering foreign markets with.

    First Vice President for MTS Technologies, Head of the MTS Basic Department at HSE Pavel Voronin also highly praised the study, calling it very complete and high-quality.

    In his opinion, science is the foundation for technology, and “the geopolitical situation requires us to invest more in this fundamental part,” but the economic situation forces many companies in the market to approach finances prudently. When it is necessary to monitor expenses more closely, the first thing that is cut is unpredictable, long-term investments. “From a business point of view, it is important not to get caught in these scissors, to correctly determine priorities and leave a certain share of investments for long-term research,” concluded Pavel Voronin.

    Head of the scientific and technical cooperation department of the State Corporation Rosatom Ekaterina Chaban stated that in her corporation “every scientific project is also a business project” and confirmed the researchers’ findings on the successful attraction of young people to science. In the scientific division of Rosatom, out of 2 thousand scientists, 38% are under 35 years old, 48% are under 39 years old, and among the directors of institutes there are scientists and designers under 40 years old. “The corporation does a lot to maintain the influx of young people and retain young personnel,” she explained.

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

    MIL OSI Russia News –

  • MIL-OSI: BFCM – 2024 Full year results

    Source: GlobeNewswire (MIL-OSI)

    Results for the year ended December 31, 2024 Press Release
      Strasbourg, February 6, 2025
    Results for the year ended December 31, 2024 2024 2023 Change 2024/2023
    RECORD NET REVENUE €12.370bn €11.808bn         +4.8%
    of which retail banking €8.413bn €8.410bn         0.0%
    of which specialized business lines €2.916bn €2.563bn         +13.8%
    GENERAL OPERATING EXPENSES UNDER CONTROL
    POSITIVE SCISSOR EFFECT    		 -€6.268bn -€6.057bn         +3.5%
    HIGHER COST OF RISK DUE TO THE ECONOMIC CLIMATE AND INCREASED PROVISIONS -€1.807bn -€1.279bn         +41.3%
    NET INCOME AT RECORD LEVEL €3.412bn €3.345bn         +2.0%
    GROWTH IN LENDING1
    Home loans Equipment loans and leasing Consumer credit
    €120.7bn €117.2bn €48.2bn
    0.0% +3.0% +5.7%
    SOLID FINANCIAL STRUCTURE
    CET1 Ratio2 Shareholders’ equity
    18.8% €45.20bn

    Download the press releas: Press Releases | Banque Fédérative du Crédit Mutuel

    Press contact :

    Aziz Ridouan: +33(0)6 01 10 31 69 – aziz.ridouan@creditmutuel.fr

    Press contact: +33 (0)3 88 14 84 00 – com-alliancefederale@creditmutuel.fr

    Investor contact :

    Banque Fédérative du Crédit Mutuel – bfcm-web@creditmutuel.fr

    1 Changes in outstandings calculated over 12 months. 2 Ratio estimated at December 31, 2024 for Crédit Mutuel Alliance Fédérale which includes BFCM in its scope of consolidation. The integration of earnings into shareholders’ equity is subject to approval by the ECB.

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Result of the 56-day Variable Rate Repo (VRR) auction held on February 07, 2025

    Source: Reserve Bank of India

    Tenor 56-day
    Notified Amount (in ₹ crore) 50,000
    Total amount of bids received (in ₹ crore) 1,08,702
    Amount allotted (in ₹ crore) 50,010
    Cut off Rate (%) 6.31
    Weighted Average Rate (%) 6.35
    Partial Allotment Percentage of bids received at cut off rate (%) 89.08

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2102

    MIL OSI Economics –

  • MIL-OSI Video: Palestine: WHO Warns of Severe Health Crisis in Gaza – Press Conference | United Nations

    Source: United Nations (Video News)

    World Health Organization (WHO) senior official in Gaza Rik Peeperkorn said that the health needs in the Strip are “immense” as functional health facilities and services are scarce.

    Peeperkorn today (06 Feb) spoke to reporters from Gaza via video link.

    On mental health, the WHO senior official said that that everyone in Gaza is affected by the conflict, with stress, anxiety, depression and feel of loneliness. He said that only two psychiatrists are in the north and a few mental health professionals.

    Peeperkorn also said that WHO started a training program. “As of now, 44 mental health humanitarian workers were trained on psychological first aid to provide immediate emotional and psychological support early and also ensure early detection and enable safe referrals.”

    On a positive note, the WHO official said that Shifa Hospital “bounced back in the middle of the severe destruction, some departments are working, and it’s working again as a referral hospital.”

    He said that WHO is supporting an emergency medical team. “There’s general surgery going on, trauma surgery going on, and more in child health. A lot is going on. And also some substantial renovations to expand the impatience department and the ICU,” Peeperkorn added.
    On medical evacuation, the WHO official said, “There should be more patients going through Rafah into Egypt. But we also want other medical corridors, and the first medical corridors we really want to see restored is the traditional referral pathway to West Bank and East Jerusalem. The hospitals are ready in East Jerusalem and West Bank to receive the patients.”

    Asked about the recent announcement on US withdrawing from his Organization, Peeperkorn said, “We need a strong World Health Organization which plays a crucial role in protecting the health security of the world people, including Americans, and addressing the root causes of disease, but also building stronger health systems, detecting, preventing and responding to health emergencies, including disease outbreaks, often in dangerous places where we of us cannot go.”

    “And therefore, we really hope for this reconsideration and look forward to engaging in this constructive dialog, at all levels,” he concluded.

    https://www.youtube.com/watch?v=-ypbD2e8ZuA

    MIL OSI Video –

  • MIL-OSI Video: Democratic Republic of the Congo, Palestine & other topics – Daily Press Briefing | United Nations

    Source: United Nations (Video News)

    Noon briefing by Farhan Haq, Deputy Spokesperson for the Secretary-General.

    Highlights:

    – Secretary-General
    – Occupied Palestinian Territory
    – Sudan
    – Central African Republic
    – Air Pollution
    – Female Genital Mutilation
    – Financial Contribution

    SECRETARY-GENERAL
    This morning, in a press encounter, the Secretary-General made a special appeal for peace in the Democratic Republic of the Congo, ahead of a summit tomorrow with the leaders from the East African Community and the Southern African Development Community in Tanzania. He added that next week in Addis Ababa, he will take part in a Summit-level meeting of the African Union Peace and Security Council where the crisis will be front and centre.
    The Secretary-General said his message is clear: Silence the guns. Stop the escalation. Respect the sovereignty and territorial integrity of the Democratic Republic of the Congo. Uphold international human rights law and international humanitarian law.

    OCCUPIED PALESTINIAN TERRITORY
    The Under-Secretary-General for Humanitarian Affairs, Tom Fletcher, accompanied a UN aid convoy into the Gaza Strip today, where the UN and its partners continue responding to immense needs as part of a prepared scaling up of our operations.
    In northern Gaza, Mr. Fletcher toured two hospitals – Al Shifa in Gaza City and Al Awda in Jabalya – where he met with patients, staff and management. Leaving the Al Awda hospital, Mr. Fletcher spoke with survivors and returnees in Jabalya who are trying to rebuild their lives amid the rubble.
    The Under-Secretary-General also visited the only operational water well in North Gaza governorate. This well, which is run by theUnite d Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) serves as a crucial lifeline for clean water, given the extensive destruction of Gaza’s water infrastructure. From the north of the Strip, the Under-Secretary-General crossed the Netzarim area into Deir al Balah in central Gaza.
    Throughout his visit, Mr. Fletcher held discussions with humanitarian workers from local and international non-governmental organizations, as well as UN agencies, stressing the need to seize the opportunities presented by the ceasefire to sustain and expand relief efforts.
    Partners of the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) supporting water, sanitation and hygiene services report that they are distributing 2,500 cubic metres of safe drinking water daily across Gaza and North Gaza governorates, serving 411,000 people. One of our partners is also providing cleaning services at 17 displacement sites in northern Gaza, benefiting nearly 12,000 people.
    Water, sanitation and hygiene partners are carrying out assessments in locations across the Strip to repair water wells, install dosing pumps, and set up water filling points.
    While some repairs are already underway, further progress hinges on teams being able to clear debris and carry out assessments of explosive hazards.
    Meanwhile in the West Bank, OCHA reports that Israeli forces’ operations are intensifying in Jenin, Tulkarm and Tubas, severely restricting Palestinians’ access to essential assistance, including water, food, medicine and supplies for infants.
    In Tubas governorate, Israeli forces have been operating in the El Far’a refugee camp for five consecutive days. They have imposed a curfew, reportedly prohibiting residents from leaving their homes. They also bulldozed roads and damaged water networks, forcing residents to rely on collecting rainwater.

    SUDAN
    The Resident and Humanitarian Coordinator in Sudan, Clementine Nkweta-Salami, today warned that South Kordofan and Blue Nile States are on the brink of catastrophe, as the violence there continues to escalate at an alarming rate.
    As of yesterday, the civilian death toll following recent shelling in South Kordofan’s capital Kadugli had increased to 80, with some three dozen others injured.
    In a statement, Ms. Nkweta-Salami condemned the reported use of women and children as human shields in Kadugli, as well as the obstruction of humanitarian aid and the detention of civilians, including children.
    The western Nuba Mountains, which extend into South Kordofan and West Kordofan States, are among the areas in which famine has been identified by the Famine Review Committee of the International Food Security Phase Classification system, or IPC.
    Ms. Nkweta-Salami stressed that humanitarian needs also remain critical in Blue Nile State, amid reports of mass mobilization for conflict. She also called on all sides to the conflict in Sudan to de-escalate tensions, protect civilians and civilian infrastructure, and allow humanitarian organizations safe and unrestricted access to those in desperate need.

    Full Highlights: https://www.un.org/sg/en/content/ossg/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=06+February+2025

    https://www.youtube.com/watch?v=6MYbKGAp7Y0

    MIL OSI Video –

  • MIL-OSI Video: Urban Search and Rescue (US&R) Task Force 3 operation in LA wildfires

    Source: United States of America – Federal Government Departments (video statements)

    Urban Search and Rescue (US&R) Task Force 3 explains about the search and rescue operation to support the wildfire recovery efforts in Los Angeles.

    https://www.youtube.com/watch?v=C3EavU8T_Vg

    MIL OSI Video –

  • MIL-OSI Europe: OSCE delivers training course on airport security and provides equipment to Moldovan border police

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: OSCE delivers training course on airport security and provides equipment to Moldovan border police

    From 3 to 7 February, the OSCE organized a training course in Chisinau, Moldova for aviation security managers from the General Inspectorate of Border Police (GIBP) and Airport Administration of the Republic of Moldova. The course, organized in co-operation with the Permanent Mission of Romania to the OSCE, was conducted by Romanian aviation security experts.
    The course enhanced the participants’ expertise in overseeing and monitoring the implementation of aviation security measures, equipping them with essential competencies aligned with international standards. Sessions covered topics critical to the role of aviation security managers, including threat and risk assessment methodologies, crisis management, duties of security managers and supervisory activities.
    “At a time when aviation security faces increasingly complex challenges, this training course underscores the importance of equipping aviation security managers with necessary skills and knowledge to address them effectively. The OSCE remains committed to supporting Moldova in strengthening its aviation security framework and fostering regional co-operation to ensure safety for all,” said Ambassador Kelly Keiderling, Head of the OSCE Mission to Moldova.
    Throughout the week, the participants engaged in practical exercises, case studies and discussions focused on integrating the International Civil Aviation Organization standards and recommended practices into daily operations.
    “The knowledge gained during this course will enable us to better safeguard our airports and ensure the safety of travellers. The hands-on activities and expert guidance provided invaluable insights for our work,” said Elena Popa, an airport security manager with the GIBP.
    In parallel to this course, the OSCE donated 13 complete computer sets with uninterruptible power supply devices to the GIBP. The equipment will enhance the operational capabilities of the Moldovan Border Police by streamlining data processing, supporting border monitoring activities, and facilitating the implementation of security technologies in compliance with international standards.
    “This donation represents a vital resource for the Moldovan Border Police as we continue to enhance our capacity to address cross-border threats. The new equipment will improve our ability to monitor and analyse border activities, supporting our mission to safeguard Moldova’s borders,” said Ruslan Galușca, Head of the GIBP.
    The training course is part of the OSCE’s extrabudgetary project “Support to the Law Enforcement Agencies in Moldova in Response to the Security Challenges in the Region”. The project focuses on strengthening Moldovan law enforcement’s capacity to combat transnational organized crime both at the border and within the country, with financial support from the France, Germany, Poland, the United Kingdomand the United States of America.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Sir Ian Bauckham named as permanent Chief Regulator of Ofqual

    Source: United Kingdom – Executive Government & Departments

    Sir Ian Bauckham CBE is appointed Chief Regulator of Ofqual by the Education Secretary.

    The Education Secretary, Bridget Phillipson, has today (7 February 2025) announced the appointment of Sir Ian Bauckham CBE as Chief Regulator of Ofqual .  

    The privy council has confirmed his appointment through an order in council, after a thorough recruitment process conducted in line with the requirements set by the commissioner for public appointments. 

    Sir Ian will start the permanent five-year position after serving as interim Chief Regulator since 1st Jan 2024.  

    Secretary of State for Education, Bridget Phillipson said:    

    This government is committed to high and rising standards and fair assessments are crucial to this, opening the door to opportunity for children and young people and breaking the link between background and success. 

    With his vast expertise in education, Sir Ian is exceptionally suited to lead Ofqual in maintaining a system that provides all young people with high-quality, rigorous qualifications and training, equipping them with the skills needed to succeed.

    Appointed Chief Regulator, Sir Ian Bauckham CBE said:    

    I’m honoured to take on this permanent role, after dedicating my career to improving education and opportunities for young people. 

    Qualifications are the currency of education. Ofqual, as guardian of standards, will protect their value and integrity to ensure they remain trusted by students, teachers, universities and employers alike. 

    Only through rigorous assessment and stable qualifications can we measure education performance and highlight areas where we can improve opportunities for all students.

    Ofqual is the independent body responsible for regulating qualifications, exams, and assessments in England. It plays a crucial role in maintaining standards and public trust in GCSEs, A levels, and vocational and technical qualifications. 

    The Chief Regulator’s key responsibility is to ensure that Ofqual meets its statutory objectives and duties, including upholding standards and fostering confidence in qualifications and assessments. 

    Knighted in January 2023 for his services to education, Sir Ian has been a member of the Ofqual Board since 2018. He served as Chair from January 2021 until January 2024, when he became the interim Chief Regulator. Previously, he was the Chief Executive Officer of the Tenax Schools Academy Trust, a position he stepped down from to assume his current role. Since 2020, Sir Ian has also chaired the board of Oak National Academy.

    DfE media enquiries

    Central newsdesk – for journalists 020 7783 8300

    Updates to this page

    Published 7 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Leasehold Advisory Service (LEASE) Chair’s letter

    Source: United Kingdom – Executive Government & Departments

    This letter sets out the government’s expectations and priorities for LEASE over the remainder of 2025.

    Applies to England and Wales

    Documents

    Leasehold Advisory Service (LEASE) Chair’s letter

    PDF, 196 KB, 5 pages

    Leasehold Advisory Service (LEASE) Chair’s letter

    HTML

    Details

    The Minister of State for Housing and Planning, Matthew Pennycook, has written to LEASE’s Chair, Martin Boyd, to set out his priorities for the Service in their role delivering advice to leaseholders and park home owners.

    Updates to this page

    Published 7 February 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Getting involved in National Apprenticeship Week

    Source: City of Coventry

    Coventry City Council is helping to mark National Apprenticeship Week from 10 February.

    Coventry City Council is helping to mark National Apprenticeship Week from 10 February by co-ordinating activities to raise awareness about apprenticeship opportunities in the Council and other organisations in Coventry. 

    There are currently over 400 apprentices working at the Council undertaking over 50 different types of apprenticeship across all of our service areas. 

    Cllr Richard Brown, Cabinet Member for Finance, said: “Apprenticeships are a crucial part of the Council’s recruitment process. They offer opportunities for young people who may be looking at post-16 options other than sixth forms, colleges and university courses. 

    “We also work with care leavers and young people who may not be in employment or education. 

    “I’d really encourage parents/carers and teachers and young people to find out more about what the Council can offer. 

    “Our apprentices make a fantastic contribution to the wide range of services we provide.” 

    A week of activities is planned, including online apprenticeship information sessions and a schools’ event at Coventry Rugby Club, involving a range of businesses and organisations offering apprenticeships in Coventry.   

    The Council has apprentices, school apprentices and newly recruited corporate apprentices working in Business Administration, Civil Engineering, Customer Services, Marketing and Events, Electrical Installation, Highways, Horticulture/Gardening, Facilities Services, Finance, IT, Legal, Plumbing/Heating, Vehicle Mechanics and in other services. 

    Apprenticeships are foundation to a great career and offer a range of opportunities and career pathways. As an apprentice at Coventry City Council, people will gain new knowledge, experiences and qualifications, all whilst earning a salary. 

    All apprentices at the Council have a dedicated Apprenticeship Officer that works alongside managers and apprentices to provide: pastoral care and mentoring; access to additional learning and development opportunities; and career advice and guidance. 

    Apprenticeships are a key part of the Council’s plans to train the workforce of the future, so we do all we can do to ensure our apprentices stay with us after completing their apprenticeship. 

    During the week, there will be activities taking place for both current Council apprentices, celebrating their achievements so far, and for future apprentices to get involved with too. 

    Get involved 

    Monday 10 February – Virtual online information sessions for the public, parents/carers and young people 

    Tuesday 11 February – Schools event at Coventry Rugby Club involving 25 + employers in the city 

    Thursday 13 February – Video highlights from staff who have benefited from apprenticeships 

     For details visit coventry.gov.uk/apprenticeships 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UN HRC Special Session: Democratic Republic of the Congo

    Source: United Kingdom – Government Statements

    UK Statement for the UN Human Rights Council Special Session on the situation in the DRC. Delivered by the UK’s Permanent Representative to the WTO and UN, Simon Manley.

    Thank you Mr President.

    Let me begin by commending the Minister and her Ambassador for convening this special session. We welcome its broad support from across the African Continent.

    The situation in eastern DRC has received far too little attention for far too long. We condemn the recent offensive by M23 and Rwandan Defence Forces, which has worsened an already dire humanitarian situation.

    We call on all parties to ensure unimpeded humanitarian access to allow the delivery of life-saving assistance. In particular, the UK calls on M23 and Rwanda to re-open Goma airport as a matter of utmost urgency.

    The scale of sexual and gender-based violence across eastern DRC is horrific. We are appalled by reports of the brutal rape and murder of hundreds of women in Goma’s Munzenze Prison.

    We must respond robustly and collectively to ensure a thorough investigation and bring an end to impunity.  

    The UK is convinced of the need to use all available Council mechanisms to address the human rights situation.

    Thank you.

    Updates to this page

    Published 7 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Leading in financial literacy: Minister Nicolaides | Leader en matière de littératie financière : Ministre Nicolaides

    “The latest PISA results from 2022 show that Alberta is a world leader in education. Alberta students rank first in financial literacy among Canadian provinces, ahead of Ontario and British Columbia, which tied for second place.

    “Alberta students also performed exceptionally well against international competitors in financial literacy. Globally, Alberta students placed first ahead of Denmark, the top-ranked country.

    “Alberta’s students’ achievement in financial literacy builds off the previously released 2022 PISA results. Across Canada, Alberta students rank first in science, reading and creative thinking and second in mathematics. Globally, Alberta students rank second only to Singapore in science, reading and creative thinking.

    “Ensuring Alberta’s youth can build the financial literacy skills they need to make informed decisions about their finances and their future continues to be a focus for our government.

    “That’s why we have invested $5 million to support practical, hands-on financial literacy programming for students from Kindergarten to Grade 12 and our renewed K–6 curriculum that includes a stronger foundation in financial literacy.

    “As we look forward, we will continue to develop new curriculum for grades 7–12 and ensure financial literacy is incorporated throughout all grades where appropriate.”

    Related information

    • Programme for International Student Assessment 2022 results 
    • Financial literacy grants

    Related news

    • International success for Alberta students: Minister Nicolaides (Dec. 5, 2023) 

    Le ministre de l’Éducation, Demetrios Nicolaides, a fait la déclaration suivante sur les derniers résultats du Programme international pour le suivi des acquis des élèves (PISA) de 2022 : 

    « Les derniers résultats du PISA de 2022 montrent que l’Alberta est un leader mondial en matière d’éducation. Les élèves de l’Alberta se classent au premier rang en matière de littératie financière parmi les provinces canadiennes, devant l’Ontario et la Colombie-Britannique, qui se classent au deuxième rang ex æquo.

    Les élèves de l’Alberta ont également obtenu des résultats exceptionnels par rapport à leurs concurrents internationaux en matière de littératie financière. À l’échelle mondiale, les élèves de l’Alberta se classent premiers, devant le Danemark, le pays le mieux classé.

    Les résultats des élèves de l’Alberta en matière de littératie financière s’appuient sur les résultats du PISA de 2022 déjà publiés. Au Canada, les élèves de l’Alberta se classent premiers en sciences, en lecture et en pensée créative et deuxièmes en mathématiques. À l’échelle mondiale, les élèves de l’Alberta se classent au deuxième rang, après Singapour, en sciences, lecture et pensée créative.

    Veiller à ce que les jeunes de l’Alberta puissent acquérir les compétences en littératie financière dont ils ont besoin pour prendre des décisions éclairées concernant leurs finances et leur avenir continue d’être une priorité pour notre gouvernement.

    C’est pour cela que nous avons investi 5 millions de dollars pour soutenir des programmes pratiques de littératie financière pour les élèves de la maternelle à la 12e année, ainsi que notre programme d’études renouvelé de la maternelle à la 6e année, avec une base plus solide en littératie financière.

    À l’avenir, nous continuerons d’élaborer de nouveaux programmes pour la 7e à la 12e année et nous veillerons à ce que la littératie financière soit intégrée à tous les niveaux, le cas échéant. »

    Renseignements connexes

    • Résultats du Programme international pour le suivi des acquis des élèves de 2022 
    • Subventions pour la littératie financière

    Nouvelles connexes

    • Réussite internationale pour les élèves de l’Alberta : Ministre Nicolaides (5 décembre 2023)

    Translations

    • Arabic
    • Simplified Chinese
    • Traditional Chinese
    • Punjabi
    • Spanish
    • Ukrainian

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Tackling the Gender Export Gap

    Source: Scottish Government

    Tailored support for women entrepreneurs to enter international trade.

    Women-led businesses will receive more help to sell overseas after a study found Scotland could benefit from billions of pounds in extra trade.

    The Gender Export Gap report estimates that Scotland’s trade could increase by between £3.4 billion to £10.3 billion over two years if women-led businesses exported at the same rate as those led by men. From 2016 – 2022, between 2% and 9% fewer women-owned small and medium-sized companies sold overseas compared to those run by men.

    Actions to be introduced include targeting more women to take part in trade missions and export training programmes.

    Business Minister Richard Lochhead launched the report and the Scottish Government’s response during a visit to Raven Botanicals near Haddington, East Lothian, run by Arabella and Charlotte Harvey. The sisters are speaking to a potential overseas client about their award-winning natural skincare and beauty products after participating in trade missions to the United States and Dubai.

    Mr Lochhead said:

    “The untapped export potential of women entrepreneurs identified by this report is astonishing. The measures I am announcing today are just the beginning. We will work with organisations such as Scottish Development International and the Scottish Chamber of Commerce to understand the specific export needs of women-led businesses and provide further assistance.

    “The gender export gap is a worldwide phenomenon and the position in Scotland is typical of comparable countries. However, we are determined to improve and reap the huge economic rewards.”

    Arabella Harvey said:

    “As a business in the early stages of growth, we welcome the commitment to meaningful, tailored support for female entrepreneurs.

    “We have faced challenges accessing export support, even though there’s clear interest from new markets. By empowering female entrepreneurs to step confidently into the global marketplace, we can secure significant economic growth and strengthen Scotland’s reputation on the world stage.”

    Background 

    The Gender Export Gap report

    The Scottish Government’s response to the report.

    The Scottish-Government commissioned research report was authored by Professor Norin Arshed,  Dr Stephen Knox and Dr Carolina Marin Cadavid. 

    Steps to encourage and support more participation of women in trade is a core part of delivering the Scottish Government’s international trade strategy, Scotland’s Vision for Trade.  

    The work also aligns with wider action on women’s entrepreneurship. The Scottish Government confirmed in June 2023 that it would take forward all the recommendations of Ana Stewart’s Pathways: A New Approach for Women in Entrepreneurship.

    Funding allocated to create more opportunities for women in entrepreneurship will increase to at least £4 million in the next financial year, as part of an enhanced enterprise package commitment of £15 million. 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New energy payment scheme opens for young adults and carers in Portsmouth

    Source: City of Portsmouth

    Portsmouth City Council has launched its Energy Payment Scheme, offering one-off payments of £150 for residents in the following groups:

    • Single residents (with or without children) aged 16-24 who are receiving Universal Credit, including the Housing Costs Element, with an earned income of £900 or less a month
    • Couples (with or without children) both aged 16-24, receiving Universal Credit including the Housing Costs Element, with an earned income of £1,300 or less a month
    • Carers aged 16 and above who are on low income and who receive a qualifying benefit (details on the website)

    Applications are now open and must be submitted by 12 noon on Monday 17 March 2025. Find out more and apply online.

    The scheme is the being offered through the Household Support Fund (HSF), which is funded by the UK Government.

    Portsmouth City Council is also currently running these support schemes for low-income residents:

    • Child voucher scheme (closes 28 February) – Find out more and apply
    • Portsmouth Older Persons Energy Payment (funded by the city council, closes 7 March) – find out more and apply
    • The final round of the Exceptional hardship scheme opens 20 February.

    Cllr Steve Pitt, Leader of Portsmouth City Council said:

    “This new Energy Payment scheme is one of a number of schemes open to help Portsmouth residents who are struggling with the cost of living.

    “I really encourage people to apply for help before the deadlines, and to contact our cost of living hub for advice and support.”

    Visit the Council’s Household Support Fund website for more details of all of the schemes: www.portsmouth.gov.uk/HSF

    Even if you don’t qualify for a payment, the council’s cost of living hub remains open to help with advice and support. You can speak to someone by calling 023 9284 1047 (open weekdays 9am-5pm (closes 4.30pm Fridays) or visit the website: www.portsmouth.gov.uk/cost-of-living-hub

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  • MIL-OSI United Kingdom: Diner fined for failing to display food hygiene rating

    Source: Northern Ireland City of Armagh

    A food business in Lurgan has been prosecuted in court for failing to display its food hygiene rating.

    Maloney’s Diner at Flush Place Business Park in Lurgan was handed a fine of £500 and ordered to pay additional costs of £163 for the failure to display a valid food hygiene rating sticker under the Food Hygiene Rating Act (Northern Ireland) 2016.

    The business had been allocated a food hygiene rating of 2 following an inspection, however the business continued to display a rating of 5. Environmental Health officers from ABC Council had issued warning letters to the business in September 2024 for failing to display the correct food hygiene rating.

    A spokesperson for ABC Council said the food hygiene rating scheme provides information on businesses’ hygiene standards to help consumers choose where to eat out or shop for food.

    “It is a legal requirement for all food businesses to display their food hygiene rating. This prosecution reinforces that council officers are checking on businesses to ensure they are displaying the correct rating,” said the spokesperson.

    “Environmental Health Officers allocate a rating based on the standards found at the time of inspection. The officer will check how hygienically the food is handled, how it is prepared, cooked, re-heated, cooled and stored.

    “They also check the condition of the buildings for cleanliness, layout, lighting, ventilation and other facilities and how the business manages and records what it does to make sure food is safe.”

    Our officers will continue to work with all food businesses in the Borough to ensure that high standards of food hygiene are achieved.

    For more information about the food hygiene rating scheme in the ABC Borough please visit – www.armaghbanbridgecraigavon.gov.uk/business/food-safety/

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Sunderland resident found guilty of fly-tipping

    Source: City of Sunderland

    A Sunderland resident has been left with a court bill of nearly £1,000 after being caught on CCTV fly-tipping household waste and three sofas at the rear of his property.

    Malik Yansane, of Athol Road, was found guilty following a trial at South Tyneside Magistrates’ Court of offences under Section 33(1)(a) of the Environmental Protection Act 1990.

    The court heard how shortly after 8am on Friday 28 October 2022, Mr Yansane was observed on CCTV removing waste from his property and leaving it in the street. A Street Watch CCTV camera had been set up by the council as part of ongoing work to deter fly-tipping.

    Despite clear warning signs about CCTV surveillance, Mr. Yansane deliberately left three sofas directly beneath a post-mounted camera monitoring the area.

    The court heard how, following a report of fly-tipping, Sunderland City Council’s Neighbourhood Enforcement Team attended the rear of Athol Road, where they discovered a significant illegal waste deposit. Alongside the three sofas, officers found a child’s bouncer chair, a plastic container, black bin bags, and boxes, all discarded in plain sight of the camera.

    Officers swiftly launched an investigation, searching the waste for evidence before arranging its immediate removal.

    As part of an investigation, Mr Yansane attended an interview with council officers and confirmed it was him on the camera evidence and he admitted to illegally dumping waste behind his property.

    Mr Yansane was offered the opportunity to pay a £300 Fixed Penalty Notice instead of facing prosecution. He received the notice on Wednesday 18 January 2023 and was told to pay within ten days.

    On Tuesday 31 January and Wednesday 8 February 2023, he received postal reminders that if he didn’t pay, legal action would be considered. The penalty was not paid and the council began court proceedings.

    The case was heard on Tuesday 4 February 2025 and Mr Yansane, who was representing himself, conceded that he had admitted in interview and that he had placed the items in the back lane and did not have any permissions, permits or licence to do so. He had also made no arrangements for anyone to collect the items and he had himself previously reported fly-tipping near his property.

    Magistrates found him guilty of fly-tipping and ordered him to pay a £300 fine, £245.21 to cover clean-up costs, and £450 for legal and investigation fees. In total, Mr Yansane was ordered to pay £995.21.

    Sunderland City Council’s Cabinet Member for Environment, Transport and Net Zero, Councillor Lindsey Leonard said: “This case shows that fly-tipping will not be tolerated. If you illegally dump waste, we will investigate, take legal action, and bring offenders to court.

    “Sunderland City Council is dedicated to keeping our community clean, and we encourage residents to dispose of their waste properly.”

    Residents are encouraged to report any fly-tipping or waste disposal issues directly to Sunderland City Council. You can do this online at www.sunderland.gov.uk/report-it or by calling 0191 520 5550.

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  • MIL-OSI United Kingdom: New event brings communities together to learn more about apprenticeships

    Source: City of Derby

    Derby City Council is delighted to announce the Community Apprenticeship Event. This free event will be taking place on Wednesday 26 February from 4:30pm to 7:00pm at the Indian Community Centre, Derby.

    Young individuals aged 15 to 24 and their families are invited to connect with education providers and employers to gain comprehensive insights into apprenticeship pathways. This event aims to showcase the diverse opportunities that Apprenticeships has to offer as alternatives to traditional academic routes.

    Attendees can expect an engaging presentation from the Apprenticeship Support and Knowledge (ASK) Programme, including real-life testimonials from apprentices and a Q&A session. This will be followed by a networking opportunity with a range of employers and apprenticeship providers such as Derby City Council, Derby Homes, EON, and Birds Bakery. Complimentary refreshments and halal and vegetarian food will also be provided.

    To be eligible to attend, you must be aged 15 to 24 or attending with someone that is aged 15 to 24 and in your care. By attending together, families can collectively explore and understand the benefits of apprenticeships. You must also be residents of Abbey, Arboretum, Normanton, or Sinfin wards.

    Councillor Paul Hezelgrave, Cabinet Member for Children, Young People and Skills, said:

    The Community Apprenticeship Event is a fantastic opportunity to bring our diverse communities together and empower families to play an active role in shaping young people’s futures. By connecting young individuals with local employers and apprenticeship providers, we are fostering a collaborative environment where families can explore exciting career pathways together.

    This event highlights the importance of supporting our youth in achieving their aspirations while strengthening the bonds within our community”

    Free parking is available next to the Indian Community Centre on Rawdon Street.

    This event is organized by Derby City Council’s Employment and Skills Hub and funded by the East Midlands Combined County Authority (EMCCA) Careers Hub.

    You can learn more and book your free ticket on the Eventbrite page.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Warmer Homes London launches to help vulnerable Londoners heat their homes and save money

    Source: Mayor of London

    • Warmer Homes London (WHL) will see the Mayor of London and London Councils work in partnership with London boroughs and housing associations to unlock millions of pounds from a national pot of £1.79bn to spend on energy saving measures for the most vulnerable residents in the capital.  
    • WHL will make London’s homes greener and turbocharge the installation of insulation, solar panels and heat pumps across the capital.
    • The Mayor of London and London Councils are funding Warmer Homes London together, with the Mayor investing £10m to establish a new hub to ensure that the programme is delivered at pace. London boroughs are also investing £400,000 in start-up costs.  
    • London boroughs and housing associations have committed to match national funding, to make tens of thousands of homes across London more energy efficient and save Londoners money on their bills.   
    • The new ‘one-London approach’ will for the first time offer councils a certain, long-term funding stream to retrofit homes in their boroughs.

    Today the Mayor of London, Sadiq Khan, and London Councils launched a new programme to transform the approach to making the capital’s homes warmer and more energy efficient and reducing Londoners’ energy bills. Warmer Homes London (WHL) will forge bolder ways to upgrade London’s homes as part of the retrofit revolution.    

    WHL is being rolled out in partnership with London boroughs and housing associations to make homes across London warmer, cheaper to run and more energy efficient.    

    The Mayor will invest almost £10 million over four years through WHL, which will for the first time provide a central hub for green housing funding and information. Until now, boroughs have had to apply for funding individually, led by the Government’s funding rounds. This created costs and long-term uncertainty. WHL will create a ‘one-London approach’, forming a close link with Government and providing reliable, long-term funds to boroughs, meaning they will have the certainty they need to progress retrofit works in their area. The new ‘hub’ will enable a more co-ordinated approach with Government, increasing bargaining power with Ministers and enabling homes to be improved at a larger scale and faster pace. 

    The initiative will help thousands of Londoners save money on their energy bills by funding energy efficient measures such as better insulation, replacing of fossil fuel heating and the introduction of heat pumps. Social landlords (organisations such as local authorities and housing associations who provide affordable housing for rent without a profit), low income owner occupiers and low income private tenants can access the opportunity to take part in the initiative. This will ensure that Londoners who are most vulnerable to fuel poverty will be able to benefit from the funding, whether they rent or own their home.  

    WHL will help secure funding from the Government’s Warm Homes Social Fund and Warm Homes Local Grant funding streams, which is a total national amount of £1.79bn during 2025–2028. WHL will focus on installing energy saving measures in low income private housing. 

    London’s homes are responsible for one third of the capital’s carbon emissions and many are not energy efficient, meaning they cost more to warm up in the winter and lose heat quickly. They can also be uncomfortably hot during summer heatwaves. High living costs and rising fuel prices have meant that even more Londoners now face fuel poverty, with many people having to choose between heating their home or spending money on food. In social rented homes with poor energy efficiency, 56 per cent of households are living in fuel poverty*. Making these homes more energy efficient is a key part of London’s efforts to tackle the climate emergency.   

    The Mayor of London, Sadiq Khan, said:  “Londoners have been struggling for years with sky-high energy bills. Warmer Homes London will help Londoners save money on their bills by making their homes more energy efficient and cheaper to heat.

    “By working in close collaboration with local councils and housing associations, Warmer Homes London will enable us to upgrade more homes, and do it more quickly avoiding unnecessarily long wait times for home improvement works.

    “Making our homes more energy efficient is a priority for me, but also the new government. Through this new initiative we will be able to unlock more national funding from the Government for homes in London. Together, we can build a better, safer and greener London for everyone.”

     Cllr Claire Holland, Chair of London Councils said:  

    “With 379,000 households in London living in fuel poverty, taking action to make homes in our city warmer and more energy efficient is vital for our residents’ health, wellbeing and finances.

    “Warmer Homes London will bring together London boroughs, the Mayor of London, housing associations and government to drive this work forward. It aims to unlock millions of pounds  of investment to deliver improvements to tens of thousands of  homes across London, making them more energy efficient, reducing their environmental impact and saving Londoners money on their bills.

    “Warmer Homes London is a perfect example of how tackling the climate emergency and improving the lives of our residents go hand-in-hand, with joint working across all levels of government vital to achieving this.”

    Minister for Energy Consumers Miatta Fahnbulleh said:

    “Everyone deserves to live in a warm, comfortable home.

    “Warmer Homes London marks an important step towards making thousands of homes cheaper to run for Londoners with clean energy, while cutting fuel poverty across the capital.

    “It will also support delivery of our Warm Homes Plan, which is set to benefit up to 300,000 homes with energy saving upgrades this financial year.” 

    MIL OSI United Kingdom –

  • MIL-OSI: GPTBots.ai Redefines On-Premise AI Excellence with DeepSeek Integration

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Feb. 07, 2025 (GLOBE NEWSWIRE) — GPTBots.ai, a leading enterprise AI agent platform, is proud to unveil its enhanced on-premise deployment solutions powered by the integration of the highly acclaimed DeepSeek LLM. This integration empowers enterprises to harness the advanced capabilities of DeepSeek while leveraging GPTBots’ robust, enterprise-grade platform, delivering a secure, flexible, and scalable AI solution tailored to diverse business needs.

    As businesses worldwide accelerate their adoption of AI, GPTBots.ai provides a comprehensive platform that combines cutting-edge technology with industry-specific solutions, enabling enterprises to achieve measurable results while maintaining full control over their data and infrastructure.

    Cost-Effective AI Deployment for Businesses of All Sizes

    DeepSeek’s lightweight architecture, including its MoE (Mixture of Experts) design, significantly reduces the hardware and operational costs associated with AI deployment:

    • Optimized Resource Utilization: DeepSeek can operate seamlessly on consumer-grade GPUs (e.g., RTX 4090), eliminating the need for expensive high-end clusters.
    • Energy Efficiency: Enhanced inference optimization reduces energy consumption, making it ideal for businesses prioritizing cost control and sustainability.

    When deployed through GPTBots, enterprises benefit from streamlined workflows, pre-configured tools, and optimized resource allocation, ensuring a lower total cost of ownership while maintaining high performance.

    Transforming On-Premise AI for Industry-Specific Applications

    The integration of DeepSeek into GPTBots’ platform delivers significant value across industries, enabling businesses to address unique challenges and unlock new opportunities:

    • Retail, E-Commerce, and Gaming: GPTBots revolutionizes customer support by automating inquiries, providing 24/7 multilingual assistance, and enhancing user experiences. A global gaming platform using GPTBots reduced response times by 95% and automated 98% of inquiries, freeing resources for creative tasks.
    • Finance: GPTBots streamlines customer service, compliance workflows, and risk analysis, reducing operational costs while improving customer satisfaction and regulatory adherence.
    • Energy: GPTBots supports real-time monitoring and data analysis, helping energy companies optimize resource allocation and equipment management. Businesses can leverage GPTBots for equipment failure prediction, energy consumption analysis, and renewable energy management, thereby improving operational efficiency and reducing costs.
    • Government and Enterprises: GPTBots provides intelligent administrative management and public service support for government and enterprise sectors, enhancing service efficiency and decision-making quality. For example, GPTBots can be used for automated government service consultations, policy interpretation, and the intelligent upgrade of public service platforms, driving digital transformation for government and enterprise organizations.

    Flexible Deployment for Data Control and Security

    GPTBots’ on-premise deployment ensures enterprises maintain full control over their data, aligning with the highest standards of security and operational independence:

    • Data Ownership: All data is stored within the enterprise’s infrastructure, ensuring complete autonomy and privacy.
    • Advanced Security Protocols: GPTBots provides enterprise-grade SLA guarantees, role-based access control, and encryption, safeguarding sensitive information and critical operations.

    This approach is particularly valuable for industries such as finance, healthcare, and legal services, where data privacy and compliance are paramount.

    Empowering Enterprises to Embrace AI with Confidence

    GPTBots’ integration of DeepSeek is more than just a technological advancement—it’s a commitment to empowering businesses to thrive in the AI-driven era. By combining DeepSeek’s advanced capabilities with GPTBots’ enterprise-grade platform, businesses gain access to:

    • Customizable Solutions: Tailor AI deployments to specific business needs with GPTBots’ no-code/low-code platform and robust APIs.
    • Comprehensive Tool Ecosystem: From LinkedIn and HubSpot integrations to advanced image generation tools, GPTBots provides everything enterprises need to automate workflows and enhance productivity.
    • End-to-End Support: From deployment to ongoing optimization, GPTBots offers professional services to ensure long-term success.

    “GPTBots is committed to empowering businesses with the tools they need to innovate and grow,” said Jerry Yin, VP of GPTBots.ai. “By integrating DeepSeek into our on-premise deployment solutions, we’re providing a powerful, secure, and flexible AI platform that drives measurable results across industries.”

    About GPTBots.ai

    GPTBots.ai is an enterprise AI agent platform that empowers businesses to streamline operations, enhance customer experiences, and drive growth. Offering end-to-end AI solutions across customer service, knowledge search, data analysis, and lead generation, GPTBots enables enterprises to harness the full potential of AI with ease. With seamless integration into various systems, and support for scalable, secure deployments, GPTBots is dedicated to reducing costs, accelerating growth, and helping businesses thrive in the AI era.

    For more information, visit www.gptbots.ai.

    Media Contact:
    Silvia
    Senior Marketing Manager
    marketing@gptbots.ai

    The MIL Network –

  • MIL-OSI: Aurora Mobile’s GPTBots.ai Integrates DeepSeek into On-Premise Al Solutions

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, Feb. 07, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced that its leading enterprise AI agent platform, GPTBots.ai, has unveiled its enhanced on-premise deployment solutions powered by the integration of the highly acclaimed DeepSeek LLM. This integration empowers enterprises to harness the advanced capabilities of DeepSeek while leveraging GPTBots’ robust, enterprise-grade platform, delivering a secure, flexible, and scalable AI solution tailored to diverse business needs.

    As businesses worldwide accelerate their adoption of AI, GPTBots.ai provides a comprehensive platform that combines cutting-edge technology with industry-specific solutions, enabling enterprises to achieve measurable results while maintaining full control over their data and infrastructure.

    Cost-Effective AI Deployment for Businesses of All Sizes

    DeepSeek’s lightweight architecture, including its MoE (Mixture of Experts) design, significantly reduces the hardware and operational costs associated with AI deployment:

    • Optimized Resource Utilization: DeepSeek can operate seamlessly on consumer-grade GPUs (e.g., RTX 4090), eliminating the need for expensive high-end clusters.
    • Energy Efficiency: Enhanced inference optimization reduces energy consumption, making it ideal for businesses prioritizing cost control and sustainability.

    When deployed through GPTBots, enterprises benefit from streamlined workflows, pre-configured tools, and optimized resource allocation, ensuring a lower total cost of ownership while maintaining high performance.

    Transforming On-Premise AI for Industry-Specific Applications

    The integration of DeepSeek into GPTBots’ platform delivers significant value across industries, enabling businesses to address unique challenges and unlock new opportunities:

    • Retail, E-Commerce, and Gaming: GPTBots revolutionizes customer support by automating inquiries, providing 24/7 multilingual assistance, and enhancing user experiences. A global gaming platform using GPTBots reduced response times by 95% and automated 98% of inquiries, freeing resources for creative tasks.
    • Finance: GPTBots streamlines customer service, compliance workflows, and risk analysis, reducing operational costs while improving customer satisfaction and regulatory adherence.
    • Energy: GPTBots supports real-time monitoring and data analysis, helping energy companies optimize resource allocation and equipment management. Businesses can leverage GPTBots for equipment failure prediction, energy consumption analysis, and renewable energy management, thereby improving operational efficiency and reducing costs.
    • Government and Enterprises: GPTBots provides intelligent administrative management and public service support for government and enterprise sectors, enhancing service efficiency and decision-making quality. For example, GPTBots can be used for automated government service consultations, policy interpretation, and the intelligent upgrade of public service platforms, driving digital transformation for government and enterprise organizations.

    Flexible Deployment for Data Control and Security

    GPTBots’ on-premise deployment ensures enterprises maintain full control over their data, aligning with the highest standards of security and operational independence:

    • Data Ownership: All data is stored within the enterprise’s infrastructure, ensuring complete autonomy and privacy.
    • Advanced Security Protocols: GPTBots provides enterprise-grade SLA guarantees, role-based access control, and encryption, safeguarding sensitive information and critical operations.

    This approach is particularly valuable for industries such as finance, healthcare, and legal services, where data privacy and compliance are paramount.

    Empowering Enterprises to Embrace AI with Confidence

    GPTBots’ integration of DeepSeek is more than just a technological advancement—it’s a commitment to empowering businesses to thrive in the AI-driven era. By combining DeepSeek’s advanced capabilities with GPTBots’ enterprise-grade platform, businesses gain access to:

    • Customizable Solutions: Tailor AI deployments to specific business needs with GPTBots’ no-code/low-code platform and robust APIs.
    • Comprehensive Tool Ecosystem: From LinkedIn and HubSpot integrations to advanced image generation tools, GPTBots provides everything enterprises need to automate workflows and enhance productivity.
    • End-to-End Support: From deployment to ongoing optimization, GPTBots offers professional services to ensure long-term success.

    “GPTBots is committed to empowering businesses with the tools they need to innovate and grow,” said Jerry Yin, VP of GPTBots.ai. “By integrating DeepSeek into our on-premise deployment solutions, we’re providing a powerful, secure, and flexible AI platform that drives measurable results across industries.”

    About GPTBots.ai

    GPTBots.ai is a complementary general-purpose LLM AI bot featuring private data input and continuous fine-tuning, which can replace ‘rule-based’ chatbots, improve user experience, and reduce costs. GPTBots.ai aims to provide users with an end-to-end business platform that can seamlessly integrate robots into existing applications and workflows via plug-ins. GPTBots.ai also allow users to have great access to, and more efficiently and effectively using, AIGC to improve overall corporate productivity and output quality.

    To know more, please visit https://www.gptbots.ai.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited

    E-mail: ir@jiguang.cn

    Christensen

    In China

    Ms. Xiaoyan Su

    Phone: +86-10-5900-1548

    E-mail: Xiaoyan.Su@christensencomms.com

    In U.S.

    Ms. Linda Bergkamp

    Phone: +1-480-614-3004

    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI Economics: Asian Development Blog: Preparing the Nation for Integration: Timor-Leste’s Path to ASEAN

    Source: Asia Development Bank

    Timor-Leste has taken major steps toward joining the Association of Southeast Asian Nations, but challenges remain. Strengthening governance, promoting investments, expanding trade, and enhancing human capital are still needed

    Timor-Leste is a young democracy facing significant development challenges. The poverty rate remains high at 41.8% and economic growth has been volatile, affected by both external and domestic shocks.

    The economy relies heavily on public spending and petroleum revenues. Long-standing structural challenges such as a weak private sector, inadequate infrastructure, a lack of skilled labor, and a challenging business environment, present daunting obstacles to economic diversification and long-term growth.

    Recognizing the role that regional cooperation and integration can play in addressing these challenges, Timor-Leste has long pursued membership in the Association of Southeast Asian Nations (ASEAN). This has been a strategic priority and a cornerstone of its economic development and foreign policy.

    ASEAN membership is expected to drive domestic policy and institutional reforms while expanding markets and reduce costs. It should also diversify the economy, attract trade and investments, and improve access to technology and skills.  

    Since applying for ASEAN membership in 2011, Timor-Leste has undertaken significant reforms, investments, and policy alignments—establishing a Directorate-General for ASEAN Affairs, modernizing customs, and engaging the private sector—to meet the requirements for full membership.

    Supported by partners like the Asian Development Bank, the country has accelerated capacity-building initiatives and advanced infrastructure, trade, renewable energy, and agriculture to foster broader economic opportunities.

    But more needs to be done for Timor-Leste to reap the full benefits of ASEAN.

    Timor-Leste requires comprehensive capacity-building initiatives to enhance the technical knowledge and skills of government officials and stakeholders. Developing and implementing targeted training workshops and seminars in key areas, especially those focused on specialized areas and sectoral drivers of growth, such as tourism or agriculture, will be crucial. Establishing mentorship programs that pair ASEAN expertise with Timor-Leste sectoral counterparts will provide knowledge transfer.

    Timor-Leste has made significant progress toward ASEAN accession, but continued collaboration, investment in human capital, and infrastructure improvements remain crucial for fully integrating into the region and maximizing economic opportunities.

    To ensure harmonization with ASEAN standards, expert guidance will be needed to assist in the review and improvement of government legislation, rules, and procedures. Facilitating peer-to-peer learning opportunities and best practices exchanges with other ASEAN member states that have successfully implemented core provisions will be beneficial. Providing resources and tools to assist in drafting and updating legislation to ensure compliance with core provisions is essential.

    Upgrading transport infrastructure is also crucial, requiring a strategic approach involving the development of comprehensive transport plans, substantial financial investments, and the engagement of specialized transport engineering expertise.

    Key areas of support include sustainable financing for road maintenance, capacity building, and technical assistance to strengthen planning, monitoring, and project supervision. Enhancing border protection and monitoring, improving equipment and resource allocation, and incorporating environmentally sustainable practices are also key elements.

    By aligning with international standards and focusing on regional integration, Timor-Leste can foster connectivity, streamline trade processes, and contribute significantly to overall economic growth and regional integration. Furthermore, developing ICT infrastructure is vital. Assisting in the design and implementation of automation and digitization projects for public services and trade facilitation measures will enhance efficiency.

    Timor-Leste requires comprehensive support to address its human capital challenges and improve labor force participation and food security. Key initiatives from ASEAN member states and other partners include promoting higher education through international education fairs, prioritizing Timorese students for university admissions, and establishing student and labor exchange programs.

    For basic education, creating teacher training centers and improving English language proficiency is a key priority. Online learning platforms will ensure continuous skill development and retention. The government has renewed focus on early childhood development, supported by the 2024 general state budget.

    Additional initiatives like the Inter-Ministerial Taskforce and the National Health Sector Nutrition Strategic Plan (2022-2026) target stunting and malnutrition, with the goal to reduce stunting from 47% to 25% by 2030. Promoting sustainable agricultural practices and strengthening healthcare infrastructure are also crucial.

    Timor-Leste is committed to modernizing its financial systems, developing e-payment solutions, and enhancing financial literacy and inclusion. Strengthening the business sector will create more opportunities for trade and investment.

    Supporting local businesses through capacity-building training focused on ASEAN trade, marketing, financial access policies, connectivity, and digital skills will ease integration barriers. Improving infrastructure and internet access through financial assistance will help businesses overcome critical barriers. Connecting with the ASEAN Business Advisory Council and other ASEAN members will boost trade and investment linkages.

    Timor-Leste aims to establish strong connections with ASEAN officials, stakeholders, and bodies, such as central banks and national statistics institutes. Government agencies represent Timor-Leste’s interests at ASEAN meetings and working groups. On the private sector side, Timor Leste’s Chamber of Commerce and Industry has participated in meetings with the ASEAN Business Advisory Council as an observer.

    Timor-Leste has made significant progress toward ASEAN accession, implementing key reforms and strengthening its economic and institutional frameworks. However, continued collaboration with ASEAN member states and development partners is crucial to overcoming remaining challenges.

    By sustaining momentum in governance, trade, and infrastructure improvements, Timor-Leste can fully integrate into the region and unlock new opportunities for growth. Stakeholders must remain engaged in supporting this journey, ensuring that the country maximizes the benefits of ASEAN membership for its people and economy.

    Bold Sandagdorj, country economist at ADB’s Timor-Leste Resident Mission, contributed to this blog post.
     

    MIL OSI Economics –

  • MIL-OSI Russia: Marat Khusnullin: In the Volga Federal District, about 167 thousand people moved from emergency housing

    Translartion. Region: Russians Fedetion –

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

    The resettlement of emergency housing in the country is being carried out on the instructions of the President. Thus, in the Volga Federal District, more than 2.6 million square meters of housing have been resettled since 2019, Deputy Prime Minister Marat Khusnullin reported.

    “The program for resettlement from uninhabitable houses is an important part of regional development and the well-being of our citizens. Since 2019, this task has been addressed within the framework of the national project “Housing and Urban Environment”. During this time, more than 810 thousand people have moved to new apartments. In the Volga Federal District alone, since 2019, the emergency housing stock has decreased by more than 2.6 million square meters, and about 167 thousand citizens have moved from uninhabitable houses. In particular, about 34 thousand people have improved their living conditions thanks to programs that are implemented by the regions at the expense of their own budgets. Work is ongoing under the national project “Infrastructure for Life”, – said Marat Khusnullin.

    According to the Deputy Prime Minister, the largest volume of emergency housing in the Volga Federal District was resettled: Perm Krai – 781 thousand square meters; Saratov Oblast – 403.3 thousand square meters; Samara Oblast – 335.6 thousand square meters; and Nizhny Novgorod Oblast – 269.9 thousand square meters.

    Ilshat Shagiakhmetov, Director General of the Territorial Development Fund, recalled that under the national project “Housing and Urban Environment”, houses that were declared unfit for habitation before January 1, 2017, were being resettled in the country. “The Saratov, Nizhny Novgorod, Orenburg regions, the republics of Tatarstan and Bashkortostan, having completed this task, have begun resettling houses that were declared unfit for habitation after 2017. Of the total volume, they resettled 289.1 thousand square meters of such housing, in which more than 16 thousand citizens lived,” said Ilshat Shagiakhmetov.

    The program for resettling citizens from emergency housing stock is supervised by the Russian Ministry of Construction. Its operator is the Territorial Development Fund.

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

    MIL OSI Russia News –