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Category: KB

  • MIL-OSI Canada: Steveston crossing removal postponed

    The removal of the old Steveston Highway crossing, initially scheduled to begin this weekend, Feb.1-2, 2025, has been postponed due to incoming snowy winter weather.

    There will be no traffic-pattern changes or overnight closures of Highway 99 at Steveston Highway this weekend.

    This postponement by the Steveston Interchange Project contractor will allow the Ministry of Transportation and Transit’s winter-maintenance operations to have full access to Highway 99 for brine applications and plowing, if necessary.

    The removal of the old Steveston Highway crossing will begin on Friday, Feb. 7, 2025, and take place over three weekends: Feb. 7-10; Feb. 21-24; and Feb. 28 to March 3. 

    Learn More:

    Further information on traffic-pattern changes for the dismantling of the Steveston Highway crossing can be found here: www.highway99tunnel.ca/current-work/

    For updates, check: https://www.drivebc.ca/

    MIL OSI Canada News –

  • MIL-OSI USA: What They Are Saying: Gov. Kemp Unveils Plan to Tackle Tort Reform and Stabilize Insurance Costs for Hardworking Georgians

    Source: US State of Georgia

    ATLANTA, GA – In front of what AJC Political Reporter Greg Bluestein described as “one of the most crowded press conferences I’ve seen in years at the Gold Dome,” Governor Brian Kemp laid out his plan to level the playing field in our courtrooms, ban hostile foreign powers from taking advantage of consumers and legal proceedings, stabilize insurance costs for businesses and consumers, increase transparency and fairness, and ensure Georgia continues to be the best place to live, work, and raise a family.

    The announcement has since received praise from, leaders and members of the Georgia General Assembly, doctors, industry partners, and other stakeholders.

    Read more of what they are saying:

    Lieutenant Governor Burt Jones

    “My position on this important issue has always been the same. If we want to continue to be the #I state in which to do business, we must foster a business-friendly climate. We have to work together to ensure that we put families and consumers first by tackling the hidden costs we all pay thanks to Georgia’s current tort laws. I look forward to working with those in the General Assembly to move these bills through the legislative process.”

    Senator John F. Kennedy

    “Georgia’s current legal environment raises prices and undermines the ability of job creators to start and grow their business.

    @GovKemp’s tort reform legislation will level the playing field in our courts and stabilize costs for families and consumers. I look forward to working alongside my colleagues to get this meaningful tort reform across the finish line.”

    House Speaker Pro Tempore Jan Jones

    “…@GovKemp announced plans for lawsuit reform that will reduce insurance costs, helping business owners keep the lights on, while preserving citizens’ rights to legal relief. I look forward to discussing these issues and enabling Georgia to stay competitive.”

    Georgia House Republican Caucus

    “The Georgia House stands ready to support @GovKemp’s efforts this session to bring meaningful judicial reform to our state and ease burdens on our state’s job creators!”

    Caylee Noggle – President, Georgia Hospital Association

    “Georgia Hospital Association members and their physicians applauded our elected leaders, including Office of Governor Brian P. Kemp , Lieutenant Governor Burt Jones , and Speaker Jon Burns, today in support of common sense, fair tort reforms that will rebalance the system and protect access to healthcare, improve patient safety and outcomes, and preserve our workforce.”

    Chris Clark – President/CEO, Georgia Chamber of Commerce

    “…Georgia took an important step forward to curb lawsuit abuse, to protect families, small business and our economic competitiveness. The Georgia Chamber of Commerce and our 50,000 members and their millions of hard working Georgians team members will work day and night for bipartisan legislation that ensures our legal system is focused on justice and not jackpots!”

    Katie Kirkpatrick – President & CEO, Metro Atlanta Chamber

    “MAC supports Governor Kemp for his strong commitment to enacting meaningful tort reform. As a top legislative priority for the Metro Atlanta Chamber, we know the critical importance of this effort to address key challenges faced by businesses and healthcare providers. Governor Kemp’s proposed legislative package aims to bring balance to legal proceedings and create parity with neighboring states.”

    Marsha Poorak – CEO, Southern Electric Company, LLC

    “Businesses in our state showed up strong this morning to support Governor Kemp’s tort reform efforts!  It was incredible standing on the steps behind him with medical professionals, construction workers, convenience store owners, and many more… The turnout demonstrated what we already know: tort reform is desperately needed by almost every industry in our state.”

    Georgia Child Care Association

    “Child care centers across Georgia are facing skyrocketing insurance premiums—some increasing over 20% annually. These rising costs make it harder for centers to stay open and affordable for families.

    The Georgia Child Care Association (GCCA) supports civil justice reforms to address the financial strain caused by excessive lawsuits and large settlements. Our goal is to strike a balance that ensures fair outcomes while reducing unnecessary financial burdens on child care providers.”

    Georgia Restaurant Association

    “We’re standing with Governor Kemp for Legal Reform! 💪

    GRA members proudly supported Governor Brian Kemp as he unveiled a new legislative package for comprehensive tort reform. This bill will protect both business owners and consumers from frivolous lawsuits, ensuring a more fair legal system. We look forward to to collaborating with the governor to advance this critical legislation!”

    Georgia Health Care Association/Georgia Center for Assisted Living

    “We commend Gov. Kemp for prioritizing these important reform efforts, which will promote accountability and help ensure resources are directed where they are most needed – toward providing high-quality care for residents and patients.”

    Georgia Association of Manufacturers 

    “As the only Association in the state focused solely on manufacturers, GAM strongly supports Governor Kemp’s tort reform initiative.”

    Georgia Motor Trucking Association

    “The time for change in Georgia is now. We are proud to stand in support of @GovKemp’s tort reform bill and fight for ALL Georgians.”

    Georgia Retailers

    “Thank you @GovKemp for your leadership! Your proposed reforms will protect responsible retailers and restore fairness and common sense. We are proud to stand with you!”

    Georgia REALTORS

    “GAR leadership and our advocacy staff joined Governor Kemp’s press conference supporting his tort reform legislative package, which aims to address Georgia’s challenging legal environment. GAR will continue working alongside state leadership to advance meaningful tort reform that promotes a fair legal system and economic growth across our state.”

    Georgia Senior Living Association

    “The Georgia Senior Living Association is grateful to Governor Brian Kemp, Lt. Governor Burt Jones, Speaker John Burns, and Insurance Commissioner John King for their support of the people and businesses in Georgia. Now is the time for GSLA action…”

    The Georgia Hotel & Lodging Association (GHLA)

    “The Georgia Hotel & Lodging Association (GHLA) and the hotel industry across our state fully support Governor Brian Kemp’s initiatives to bring much-needed litigation and insurance reforms to Georgia. Unchecked jury verdicts, soaring insurance premiums, and limited access to adequate coverage are placing an unsustainable burden on businesses, driving up operational costs, and jeopardizing the future of our industry. These proposed reforms are critical to restoring fairness and predictability, ensuring that Georgia continues to be a premier destination for both business and tourism”

    MIL OSI USA News –

  • MIL-OSI USA: Sen. Sheikh Rahman: Weeks 2 & 3 of the Legislative Session 

    Source: US State of Georgia

    As we enter the heart of the legislative session, work under the Gold Dome is moving full speed ahead. Even as ice and snow swept across South Georgia and Atlanta last week, our commitment to serving the people of Georgia never wavered.

    We hit the ground running when we returned to the Capitol this past Monday. Some highlights included the Senate Democratic Caucus Press Conference, Alpha Kappa Alpha Sorority Inc. Day and Chamber of Commerce Day. I am always excited to see these events full of Georgians getting involved in our state government.

    As budget hearings for the next fiscal year continue over the remainder of session, we have a critical opportunity to shape investments that will directly impact our communities. Governor Brian Kemp’s proposed budget includes $50 million in security grants for individual schools—an essential step toward keeping students safe. However, proper school safety goes beyond physical security; it requires a commitment to addressing the broader issues affecting student well-being. I will continue advocating for a budget that supports working families, invests in underserved communities, and ensures every Georgian has the opportunity to succeed.

    On Tuesday, the Senate Democratic Caucus announced several key legislative priorities for this session. We introduced Senate Bill 50, a bipartisan effort to close health insurance gaps, expand mental health and maternal care access, and ensure working families can afford quality healthcare. Too many Georgians rely on emergency rooms for primary care because they lack affordable insurance. We believe every Georgian deserves reliable, accessible healthcare, and we will continue pushing for solutions that lower costs and expand coverage. In the coming weeks, we will introduce bills to raise the state minimum wage, improve public schools, and expand access to affordable childcare. Our focus remains on legislation that puts people first.

    I am pleased to have worked across the aisle and cosponsored several pieces of bipartisan legislation, including Senate Bill 9, or the “Ensuring Accountability for Illegal AI Activities Act.” Sponsored by Sen. John Albers (R—Roswell), SB 9 would create sentencing penalties for individuals who utilize artificial intelligence to develop obscene materials that could endanger vulnerable members of our population. 

    I encourage students between the ages of 12 and 18 to apply to spend a day as a Senate Page. This program allows students to participate actively in the legislative process at our State Capitol for a day during the legislative session. This program is an invaluable experience, and I encourage my younger constituents to participate. Interested students may apply for the program here.

    The weeks ahead will be eventful, with key debates and legislation shaping Georgia’s future. I’m committed to keeping you informed and ensuring your voice is heard. Thank you for your trust—I encourage you to stay engaged as we work toward a stronger, fairer Georgia.

    # # # #

    Senator Sheikh Rahman represents the 5th Senate District which includes portions of Lawrenceville, Norcross, Duluth, Tucker and Lilburn in Gwinnett County. He may be reached at (404) 463-5261 or by email at sheikh.rahman@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI Security: Dartmouth — Nova Scotia RCMP Collision and Reconstruction Service interview on seatbelt use

    Source: Royal Canadian Mounted Police

    Cpl. Ford and Cpl. Durette of the RCMP’s Collision and Reconstruction Service recently sat down with CBC to discuss their role in investigating collisions and the impact of vehicle occupants failing to wear seatbelts.

    https://www.cbc.ca/player/play/video/9.6621874

    MIL Security OSI –

  • MIL-OSI: Combined General Meeting of January 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – January 31, 2025 – The Combined Annual General Meeting of Atos SE shareholders convened to approve the 2023 financial statements was held today at the Company’s registered office, chaired by Philippe Salle, Chairman of the Board of Directors until today and Chairman and Chief Executive Officer as of February 1, 2025.

    Broadcast live on the Atos website, the Annual General Meeting was a key opportunity to inform and exchange views with shareholders, who approved all the resolutions submitted to the vote.

    In particular, the Annual General Meeting approved the statutory and consolidated financial statements for the 2023 financial year.

    Detailed voting results and a replay of the Annual General Meeting will be available on the Atos website (under Investors – Annual General Meeting).

    Changes to the Board of Directors composition

    The Annual General Meeting approved all the ratifications of appointments submitted to it. In particular, the ratification of Philippe Salle’s appointment was approved by 94.18% of the votes cast.

    The shareholders approved the renewal of Sujatha Chandrasekaran’s term of office as Director, and the appointments of Joanna Dziubak and Hildegard Müller as new Directors.

    At the close of the Annual General Meeting, the Board of Directors noted the end of Mandy Metten’s term of office as the second Director representing employees, with the Board reduced to eight members (excluding the Director representing employees), and the expiry of the terms of office of Alain Crozier, Katrina Hopkins, Monika Maurer and Astrid Stange.

    On the recommendation of the Nomination and Governance Committee, the Board of Directors has decided to appoint Mandy Metten as a censor to the Board of Directors, with effect from today, subject to ratification by the next Annual General Meeting.

    The Board again noted the resignation of Jean Pierre Mustier from his duties as Chief Executive Officer and Director of the Company with effect from today. The Board also reiterated its unanimous decision of October 14, 2024 to combine the roles of Chairman and Chief Executive Officer, and to appoint Philippe Salle as Chairman and Chief Executive Officer with effect from February 1, 2025. The Board would like to thank Jean Pierre Mustier, who remarkably steered the Group’s restructuring, for his unfailing commitment and contribution to the Group’s success, as well as for the exemplary transition he implemented with Philippe Salle.

    At the close of the Annual General Meeting and the Board of Directors, the Atos Board of Directors comprised nine Directors, of whom 75% are independent Directors1 and 62.5% are women2, and one censor:

    • Philippe Salle, Chairman and Chief Executive Officer
    • Laurent Collet-Billon*, Vice-Chairman of the Board of Directors
    • Elizabeth Tinkham*, Lead Independent Director
    • Sujatha Chandrasekaran*
    • Joanna Dziubak*
    • Farès Louis, Director representing employees
    • Françoise Mercadal-Delasalles*
    • Jean-Jacques Morin*
    • Hildegard Müller
    • Mandy Metten, censor

    * Independent Directors

    The Board of Directors has also amended its Internal Rules3, in particular to strengthen the duties and resources of the Lead Independent Director, whose appointment is now mandatory when the roles of Chairman and Chief Executive Officer are combined. The matters reserved to the Board of Directors have also been extended.

    Changes to the Board Committees composition

    Taking into account its renewed composition, the Board has restructured its committees, as of today, on the recommendation of the Nomination and Governance Committee:

    • Audit Committee: Jean-Jacques Morin* (Chair); Laurent Collet-Billon*; Joanna Dziubak*; Sujatha Chandrasekaran*
    • Nomination and Governance Committee: Elizabeth Tinkham* (Chair); Sujatha Chandrasekaran*; Farès Louis; Joanna Dziubak*
    • Remuneration Committee: Laurent Collet-Billon* (Chair); Farès Louis; Françoise Mercadal-Delasalles*; Hildegard Müller
    • CSR Committee: Françoise Mercadal-Delasalles* (Chair); Hildegard Müller; Farès Louis

    * Independent Directors

    Philippe Salle, Chairman of the Board of Directors of Atos SE, said: “I am delighted by the confidence expressed by our shareholders. With a more compact and strengthened Board of Directors, we are fully mobilized and focused on deploying the Group’s new strategy. On behalf of the entire Board of Directors, I would like to thank the Directors whose terms of office have ended for their commitment and contribution to Atos during this critical period.”

    ***

    About Atos

    Atos is a global leader in digital transformation with c. 82,000 employees and annual revenue of c. €10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea), and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Contacts

    Investor relations: David Pierre-Kahn | investors@atos.net | +33 6 28 51 45 96
    Individual shareholders: 0805 65 00 75
    Press contact: globalprteam@atos.net

    1 In accordance with article 10.3 of the AFEP-MEDEF Code, the Director representing employees is not taken into account in determining the percentage of independent members.

    2 In accordance with the law, the Director representing employees is not taken into account in determining the parity ratio on the Board of Directors.

    3 Available on the Atos website, under Investors – Corporate Governance.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Durbin, Grassley Urge PhRMA To Embrace Their Bill To End Price Secrecy In Prescription Drug Advertisements

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    January 31, 2025
    CHICAGO – U.S. Senate Democratic Whip Dick Durbin (D-IL) and U.S. Senator Chuck Grassley (R-IA), a senior member and former chairman of the Senate Finance Committee, today sent a letter to the President and CEO of the Pharmaceutical Research and Manufacturers of America (PhRMA) urging them to embrace their bipartisan legislation, the Drug-price Transparency for Consumers (DTC) Act, to empower patients and providers and commit to voluntarily disclosing list prices in DTC advertisements. 
    The Senators wrote, “The United States is one of only two developed countries in the world that permits such pharmaceutical commercials. President Trump’s nominee for Health and Human Services Secretary has expressed interest in outright banning this practice. It would be wise for drug companies to adopt commonsense solutions to address the concerns that have been raised about DTC prescription drug advertising. As you are aware, the United States Senate previously voted unanimously to pass our measure to require that pharmaceutical companies disclose their list prices in DTC ads, and it is our hope that this policy will become law this Congress. This bipartisan legislation would ensure that when patients are bombarded with information about the newest wonder drug, the price is not kept secret. President Trump previously has issued regulations to advance this policy.”
    Drug manufacturers in the United States spend approximately $6 billion annually in direct-to-consumer (DTC) prescription drug advertisements, with approximately one-third of all commercial time across evening news programs being consumed with these pharmaceutical promotions. A recent study in the Journal of the American Medical Association found that more than two-thirds of drugs advertised on television were considered “low therapeutic value”. This creates concern for taxpayers, as a review we requested from the Government Accountability Office (GAO) found prescription drugs advertised on television accounted for 58 percent of Medicare’s overall spending on prescription drugs between 2016-2018. In 2022, the two most-advertised drugs on television alone accounted for $1.7 billion in Medicare spending.
    “There is a lot of value in knowing a prescription drug’s list price, the most accessible and standardized price of a drug, which is set by the manufacturer itself. This is especially important for consumers with high-deductible health insurance plans, those who are underinsured, or have no health insurance coverage at all,” the Senators continued.
    Recently, the Senators reintroduced the DTC Act to bring price transparency to DTC prescription drug ads. In addition to President Trump’s previous support, the bill in the 118th Congress was cosponsored by Vice President Vance. Given PhRMA’s stated support for pharmacy benefit manager transparency, the Senators argue it is only reasonable to have transparency across the pharmaceutical supply chain.
    The Senators conclude, “We urge you to take the reasonable, minimal step of embracing our bipartisan legislation to empower patients and providers and commit to voluntarily disclosing list prices in DTC advertisements.”
    Full text of the letter is available here and below:
    January 31, 2025
    Dear Mr. Ubl:
    Drug manufacturers in the United States spend approximately $6 billion annually in direct-to-consumer (DTC) prescription drug advertisements, with approximately one-third of all commercial time across evening news programs being consumed with these pharmaceutical promotions.  It is a similar story when consumers stream their favorite show or scroll through social media.  Yet consumers learn nothing from these advertisements about the cost of the prescription drug.  This must change. 
    A recent study in the Journal of the American Medical Association found that more than two-thirds of drugs advertised on television were considered “low therapeutic value”.  This creates concern for taxpayers, as a review we requested from the Government Accountability Office (GAO) found prescription drugs advertised on television accounted for 58 percent of Medicare’s overall spending on prescription drugs between 2016-2018.  In 2022, the two most-advertised drugs on television alone accounted for $1.7 billion in Medicare spending.
    The United States is one of only two developed countries in the world that permits such pharmaceutical commercials.  President Trump’s nominee for Health and Human Services Secretary has expressed interest in outright banning this practice.  It would be wise for drug companies to adopt commonsense solutions to address the concerns that have been raised about DTC prescription drug advertising. 
    As you are aware, the United States Senate previously voted unanimously to pass our measure to require that pharmaceutical companies disclose their list prices in DTC ads, and it is our hope that this policy will become law this Congress.  This bipartisan legislation would ensure that when patients are bombarded with information about the newest wonder drug, the price is not kept secret.  President Trump previously has issued regulations to advance this policy.
    There is a lot of value in knowing a prescription drug’s list price, the most accessible and standardized price of a drug, which is set by the manufacturer itself.  This is especially important for consumers with high-deductible health insurance plans, those who are underinsured, or have no health insurance coverage at all—particularly as efforts are underway to reform the rebate structure used by pharmacy benefit managers.
    Some of your member companies previously disclosed drug list prices in advertisements, and PhRMA previously has wanted to be more transparent with the American public about price information for advertised medications.  We appreciate that 35 drug manufacturers voluntarily have certified to follow PhRMA’s “Guiding Principles on Direct-to-Consumer Advertisements,” which includes directing patients to find information about the cost of medicine, including the list price, on the company’s website.  We are glad that drug companies agree that consumers should know the price of a prescription drug before purchasing it.  But in instances where manufacturers currently do opt to provide pricing information (e.g., “pay as little as $0 per dose”), they can understate or obscure a patient’s out-of-pocket liability.
    Studies show that patients are better able to approximate their out-of-pocket expenses when provided with the list price.  When voluntarily choosing to promote medications over the airwaves, manufacturers already are required to disclose safety, side effects, and contraindication information.  Yet, for many patients, price plays a primary role in clinical adherence. 
    Recently, we reintroduced our bipartisan legislation (S.229) to bring price transparency to DTC prescription drug ads.  In addition to President Trump’s previous support, our bill in the 118th Congress was cosponsored by Vice President Vance.  Given PhRMA’s stated support for pharmacy benefit manager transparency, it is only reasonable to have transparency across the pharmaceutical supply chain.
    We urge you to take the reasonable, minimal step of embracing our bipartisan legislation to empower patients and providers and commit to voluntarily disclosing list prices in DTC advertisements.  Thank you for your attention to this important matter.
    Sincerely,
    -30-

    MIL OSI USA News –

  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Samoa

    Source: IMF – News in Russian

    January 31, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Samoa on January 16, 2025 and endorsed the staff appraisal without a meeting on a lapse-of-time basis.[2]

    Samoa’s economic recovery has been remarkable. Following a 15 percent contraction over 3 years during the pandemic, GDP growth rebounded to 9.2 percent in FY2023 and accelerated further to 9.4 percent in FY2024, driven by a quick recovery in the tourism sector. Inflation has declined from double digit levels in FY2023 to 2.9 percent year-on-year in October 2024. The fiscal surplus increased further to 10.1 percent of GDP in FY2024, supported by robust grant flows, buoyant tax revenues, and restrained expenditures, including low capital spending amid capacity constraints. The current account moved to a surplus in FY2024 which, combined with continued strong grant inflows, supported a significant increase in foreign reserves.

    GDP growth is projected to remain robust at 5.5 percent in FY2025, driven by an anticipated pickup in public investment and the preparations and hosting of the Commonwealth Heads of Government Meeting (CHOGM). Inflation is expected to rise moderately amid the ongoing economic recovery. While the near-term outlook remains favorable, growth is expected to slow to the historical average of around 2 percent in the medium term. Furthermore, risks to the outlook are skewed to the downside amid heightened global uncertainties and potential pressures on inflation, including from significant excess liquidity in the banking system.

    Executive Board Assessment

    In concluding the 2024 Article IV consultation with Samoa, Executive Directors endorsed the staff’s appraisal, as follows:

    Samoa’s near-term economic outlook remains favorable. GDP growth in FY2025 is projected to remain well above pre-pandemic levels, supported by the preparations and hosting of CHOGM and the envisaged expansionary fiscal stance. Inflation is expected to rise moderately as the economic recovery continues. GDP growth is expected to converge towards the historical average of about 2 percent over the medium-term. Risks to the outlook are tilted to the downside, including from a slowdown in key trading partners amid heightened global uncertainty, as well as upside risks to inflation from external and domestic sources.

    Samoa’s recent policy mix has helped build significant economic buffers but has also presented challenges. Large fiscal surpluses have improved debt dynamics, resulting in an upgrade to Samoa’s debt distress rating from high to moderate in the IMF-WB DSA, but low capital spending is undermining the economy’s productive capacity. The tight fiscal stance, coupled with high grants and remittance inflows and the exchange rate peg, has resulted in the emergence of a large current account surplus with the external sector assessed to be substantially stronger than the level implied by fundamentals and desired policy settings. The resulting large build up in foreign reserves has also created excess liquidity in the banking system.

    An expansionary fiscal stance will support the economy, while fiscal reforms can improve the effectiveness of policy and mitigate risks. The focus in the near term should be overcoming capacity constraints to execute much needed public investment, including climate-related projects.

    Maintaining PFM controls over the DDP, including through the election cycle, remains a priority. Improving fiscal data and implementing further PFM reforms can also help improve policy formulation, implementation, and credibility. Fully reversing the pandemic-era utility tariff cuts, while implementing any support for low-income households transparently through the budget, can help address lingering weakness in some SOEs while protecting the vulnerable.

    Monetary policy normalization should continue, with an aim to guide interest rates higher. The exchange rate peg remains the appropriate nominal anchor. However, to guard against domestic inflation risks, monetary policy should aim to reduce excess liquidity to reasonable levels and push real short-term rates to positive territory.

    Further strengthening financial supervision and regulation, including for PFIs, should be a priority. Financial sector risks have declined relative to the pandemic but require continued monitoring. Priorities for the banking system include operationalizing the emergency liquidity assistance framework and enhancing prudential standards. Upgrading governance and prudential regulations for PFIs is also needed to contain potential risks. Establishing an online credit registry will help advance financial inclusion.

    A multi-pronged approach can help mitigate CBR pressures. Strengthening the AML/CFT legal framework and implementing effective risk-based supervision will help prepare Samoa for its APG mutual evaluation in 2027. Ensuring the timely rollout of the e-KYC facility and the National Digital ID will help improve customer due diligence. Given low ML/TF risks from remittance payments, effort should be made to streamline regulatory and supervisory requirements on both sides of main remittance corridors.

    Overcoming significant structural challenges which impede the medium-term growth potential will require concerted reform efforts. Key priorities include attracting foreign investment, reducing trade facilitation costs, and mitigating the impact of the pickup in the seasonal workers program, including by enhancing human capital and raising labor force participation rates.

    Table 1. Samoa: Selected Economic and Financial Indicators 1/

    Proj.

    2020/21

    2021/22

    2022/23

    2023/24

    2024/25

    2025/26

    2026/27

    2027/28

    2028/29

    Output
    and
    Inflation

    (12-month percent change)

    Real GDP

    -7.0

    -5.4

    9.2

    9.4

    5.5

    2.8

    2.1

    2.0

    2.0

    Nominal GDP

    -7.5

    0.0

    18.0

    14.9

    8.7

    6.0

    5.2

    5.0

    5.1

    Consumer price
    index
    (end of period)

    4.1

    10.8

    10.7

    0.8

    3.5

    2.6

    3.0

    3.0

    3.0

    Consumer price
    index
    (period average)

    -3.0

    8.7

    12.0

    3.6

    3.1

    3.0

    3.0

    3.0

    3.0

    Central Government Finances

    (In percent of GDP)

    Revenue
    and grants

    36.5

    38.5

    34.1

    36.0

    33.0

    32.0

    31.5

    31.5

    31.4

    Of which: Grants

    6.8

    9.4

    4.5

    6.2

    4.2

    4.0

    4.0

    4.0

    4.0

    Expenditure

    34.7

    33.1

    31.0

    25.9

    33.1

    33.5

    33.4

    33.5

    33.6

    Of which: Expense

    31.3

    32.2

    27.5

    25.7

    27.9

    28.3

    28.2

    28.3

    28.2

    Of which: Net acquisition
    of non-financial assets

    3.4

    0.9

    3.5

    0.3

    5.2

    5.2

    5.2

    5.2

    5.4

    Overall balance

    1.7

    5.4

    3.0

    10.1

    -0.1

    -1.5

    -1.9

    -2.0

    -2.2

    Gross debt outstanding

    46.3

    43.7

    33.3

    27.7

    22.5

    19.3

    20.4

    21.5

    22.6

    Money
    and
    Credit Aggregates

    (12-month percent change)

    Broad
    money (M2)

    8.1

    2.2

    16.3

    7.7

    7.5

    6.0

    6.0

    6.0

    6.0

    Private
    sector
    credit, commercial banks

    1.5

    0.2

    -2.6

    3.5

    4.0

    5.0

    5.0

    5.0

    5.0

    Private
    sector
    credit,
    other financial corporations

    -0.9

    4.9

    2.9

    8.2

    …

    …

    …

    …

    …

    Private
    sector
    credit,
    total
    financial system

    2.0

    0.6

    -0.1

    3.7

    …

    …

    …

    …

    …

    Private Sector Credit

    (In percent of GDP)

    Commercial banks

    53.1

    53.2

    43.9

    39.5

    …

    …

    …

    …

    …

    Total financial system

    94.0

    94.6

    80.1

    72.3

    …

    …

    …

    …

    …

    Bank Financial Soundness

    Regulatory capital to risk-
    weighted assets, ratio

    28.1

    28.8

    33.2

    29.0

    …

    …

    …

    …

    …

    Non-performing loans to
    total gross loans, ratio

    3.7

    4.6

    4.7

    4.6

    …

    …

    …

    …

    …

    Balance of Payments

    (In percent of GDP)

    Current account balance

    -14.5

    -11.3

    -3.3

    4.0

    -0.5

    -1.2

    -1.3

    -1.6

    -2.0

    Merchandise exports,
    f.o.b.

    4.1

    3.8

    4.6

    3.5

    3.4

    3.5

    3.5

    3.5

    3.7

    Merchandise imports, f.o.b.

    37.8

    41.4

    47.1

    41.3

    43.0

    42.9

    42.7

    42.5

    42.5

    Services
    (net)

    -3.9

    -2.9

    10.8

    17.6

    16.4

    16.0

    16.0

    16.0

    16.0

    Of which: Tourism receipts

    0.0

    0.0

    16.4

    21.0

    21.9

    21.5

    21.5

    21.5

    21.5

    Income
    (net)

    -1.7

    -2.6

    -1.3

    -2.3

    -2.7

    -2.8

    -2.8

    -2.8

    -2.8

    Current transfers
    (net)

    24.8

    31.7

    29.6

    26.4

    25.4

    25.1

    24.6

    24.1

    23.7

    External Reserves and Debt

    Gross
    official reserves (million
    U.S.
    dollars) 2/

    288.5

    303.2

    401.7

    494.3

    503.8

    506.2

    523.9

    542.9

    557.5

    (in months
    of next
    year’s imports)

    7.9

    6.4

    8.3

    9.0

    8.8

    8.5

    8.5

    8.3

    8.2

    External
    debt (in percent of GDP)

    46.1

    43.6

    33.3

    25.9

    20.9

    17.8

    19.0

    20.3

    21.5

    Exchange Rates

    Market rate (tala/U.S. dollar,
    period average)

    2.57

    2.61

    2.73

    2.76

    …

    …

    …

    …

    …

    Real
    effective exchange
    rate

    -0.5

    6.4

    9.2

    -0.6

    …

    …

    …

    …

    …

    (12-month percent change) 3/

    Memorandum items:

    Nominal GDP
    (million 
    tala)

    2,169

    2,170

    2,562

    2,943

    3,200

    3,391

    3,568

    3,748

    3,938

    GDP per capita (U.S. dollars)

    4,136

    4,032

    4,498

    5,070

    5,474

    5,728

    5,945

    6,160

    6,440

    Sources: Data provided by the Samoan authorities; and IMF staff estimates and projections.

    1/ Fiscal years July-June.

    2/ Incorporates August 2021 SDR allocation.

    3/ Increase signifies appreciation.

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

    [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pemba Sherpa

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

    https://www.imf.org/en/News/Articles/2025/01/31/pr25023-samoa-imf-executive-board-concludes-2024-article-iv-consult

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI United Nations: Seeking Dialogue over Division, Confronting Hate Before It Takes Hold Is Key to Better Future, Secretary-General Stresses in International Day of Human Fraternity Message

    Source: United Nations General Assembly and Security Council

    Following is UN Secretary-General António Guterres’ message for the International Day of Human Fraternity, observed on 4 February:

    On this International Day of Human Fraternity, we celebrate the values of equality, unity and mutual respect.  Yet today, all over the world, we see a surge of discrimination, xenophobia and intolerance driving people apart and tearing at the fabric of societies.

    It is the duty of all of us, including religious leaders, to seek dialogue over division, and confront hatred wherever we find it, before it takes hold and spreads.

    The Declaration “Human Fraternity for World Peace and Living Together” — co-authored by His Holiness Pope Francis and His Eminence the Grand Imam of Al-Azhar Sheikh Ahmed El-Teyeb — is a blueprint for interfaith harmony and peaceful coexistence.  It is a powerful reminder that our shared commitment to human rights and dignity is the foundation of a better future for all.

    Inspired by this Declaration, let us recognize that we are one human family — rich in diversity, equal in dignity and rights, and united in solidarity.  Together, we can pave the way for a more peaceful, inclusive and just world for all people.

    MIL OSI United Nations News –

  • MIL-OSI Canada: CPS officer charged with perjury and fabricating evidence

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI Canada: Largest Addictions Treatment Centre in Saskatchewan Opens its Doors to Inpatients

    Source: Government of Canada regional news

    Released on January 31, 2025

    Mental Health and Addictions Minister Lori Carr is pleased to announce that the first phase of inpatient spaces is now available at the new addictions treatment centre near Lumsden.

    Intake started January 21 for 20 inpatient spaces at the EHN Willowview Recovery Centre.

    “I am delighted that the first phase of inpatient spaces are now operating at our province’s largest addictions treatment centre,” Carr said. “The Government of Saskatchewan is focused on helping residents who want treatment for substance use access the supports they need to start their path to recovery.”

    The centre, located about 20 minutes northwest of Regina, has space for 60 patients. It has been offering intensive outpatient treatment since October 2024. As renovations continue on the facility, outpatient spaces are expected to start transitioning to inpatient spaces.

    EHN Willowview Recovery Centre is operated by EHN Canada. EHN is a leading addictions treatment provider with decades of experience operating facilities across Canada.

    “It is genuinely a privilege to partner with the Government of Saskatchewan and the Saskatchewan Health Authority to bring this world-class centre to the residents of this province,” EHN CEO Joe Manget said. “As a resident of Ontario, I really envy what this province is doing; your government is forward thinking and gets things done. I hope the country takes note of Saskatchewan’s leadership in mental health and addictions.”

    EHN Canada was one of the successful proponents chosen through a competitive Request for Proposals process initiated by the Ministry of Health and the Saskatchewan Health Authority (SHA) seeking addictions treatment services, including intensive outpatient, inpatient treatment and recovery or transitional services.

    The agreement to provide the service is between the SHA and EHN Canada.

    “We know that anyone can struggle with substance use that can lead to dependency,” SHA Provincial Executive Director of Mental Health and Addictions Services Colleen Quinlan said. “These treatment spaces are another monumental step toward getting more people access to the help they need when they need it. This partnership allows us to better support Saskatchewan residents voluntarily seeking addictions treatment on their recovery journey.”

    EHN Willowview Recovery Centre will provide adults who want treatment for substance use with holistic, wrap-around inpatient addictions treatment for up to 16 weeks.

    With the 60 spaces at Willowview, 221 of the 500 new spaces under Saskatchewan’s Action Plan for Mental Health and Addictions are now available to Saskatchewan residents.

    This includes:

    • 15 inpatient treatment spaces at Muskwa Lake Wellness Camp;
    • 15 withdrawal management spaces at Onion Lake Cree Nation;
    • 15 inpatient treatment spaces and two withdrawal management spaces at Thorpe Recovery Centre near Lloydminster;
    • 26 post-treatment spaces at St. Joseph’s Addiction Recovery Centre in Estevan;
    • 32 intensive outpatient treatment spaces through Possibilities Recovery Center in Saskatoon;
    • 14 inpatient addictions treatment spaces with Poundmaker’s Lodge in North Battleford; and
    • 42 virtual spaces through EHN Canada.

    The 2024-25 Provincial Budget invests a record $574 million in mental health and addiction supports and services. This is the largest investment in the province’s history for mental health and addiction supports.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Office of the Public Guardian appoints non-executive Board Chair

    Source: United Kingdom – Executive Government & Departments

    Alison Sansome appointed as non-executive Board Chair for the Office of the Public Guardian.

    Alison Sansome has been appointed as the new non-executive Board Chair for the Office of the Public Guardian (OPG). In her role, Alison will lead the Board, facilitating Board meetings and helping to inform decision making, using her knowledge and expertise to provide independent scrutiny and constructive advice.  

    Non-executives are senior external figures who provide independent advice, support, and challenge to government departments on policy implementation, operational delivery, and strategic direction. 

    The non-executive Board Chair has regular meetings with the Chief Executive to reflect on the organisation’s direction and the board’s role in supporting and challenging the executive team. Alison has extensive board, committee and tribunal experience in a range of sectors including justice, health, defence, emergency services and information technology. She currently holds a number of roles in a non-executive portfolio, including Vice Chair of the Fire Standards Board and Board Member for the Office of Legal Complaints. Alison also previously held several Senior Civil Service roles in the Ministry of Defence. 

    On Alison’s appointment, Public Guardian and Chief Executive Amy Holmes, said: 

    “We’re delighted to have Alison join the OPG Board. Alison has a wealth of knowledge and experience, including time within the Civil Service. Her expertise is welcomed by the Board and will be key in creating positive impact for our customers.”

    Updates to this page

    Published 31 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Recruitment for a Senior Safety Assessor

    Source: United Kingdom – Executive Government & Departments

    Senior Safety Assessor vacancy, working on authorising veterinary medicines in the UK.

    We have a vacancy for a Senior Safety Assessor.

    Job Title

    Senior Safety Assessor

    Grade

    G7

    Salary & Pension

    £ 59,900 per annum with Pension Scheme

    Annual Leave entitlement

    Commencing at 25 days

    Role

    This exciting and interesting job puts you at the heart of authorising veterinary medicines in the UK.  You will be a senior assessor within the Human and Environmental Safety Team, which is part of the VMD’s Authorisations Division.

    Assessment of data relating to human risk assessments being the primary focus, with the secondary requirement being the assessment of environmental safety.

    How to apply

    You must make your application via Senior Safety Assessor – Civil Service Jobs – GOV.UK where you will find a full job description.

    Closing Date

    24 February 2025

    Updates to this page

    Published 31 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Joint Statement from 12 State Attorneys General: President Trump is Misleading the American People on Purpose of Diversity, Equity, Inclusion, and Accessibility Initiatives

    Source: US State of California

    OAKLAND – California Attorney General Rob Bonta and Illinois Attorney General Kwame Raoul, with the attorneys general of Connecticut, Delaware, Hawaii, Maryland, Massachusetts, Minnesota, New Jersey, New York, Vermont, and Washington, today issued a joint statement addressing President Trump’s recent executive orders purporting to dismantle diversity, equity, and inclusion (DEI) and diversity, equity, inclusion, and accessibility (DEIA) policies and programs – collectively referred to below as “DEIA”: 

    “President Trump’s executive orders are unnecessary and disingenuous. These orders have nothing to do with combatting discrimination. The Trump administration has longstanding civil rights laws at its disposal to combat real discrimination, and we would be willing partners if it chose to pursue this path. Instead, the administration is targeting lawful policies and programs that are beneficial to all Americans. These policies and programs are not only consistent with state and federal anti-discrimination laws, they foster environments where everyone has an opportunity to succeed. That is the opposite of discrimination.  

    President Trump’s attack on diversity, equity, inclusion, and accessibility initiatives undermines a simple and unassailable goal: to create fairer workplaces and opportunities for all to succeed. His baseless and offensive claims that these initiatives somehow contributed to the tragic plane crash this week are an insult to those who are grieving and the individuals serving in the military and air traffic control.

    As state attorneys general representing tens of millions of American workers, we strongly oppose the President’s attempts to weaponize decades-old policies, which have been supported by Democratic and Republican administrations alike, to combat historical inequities faced by underrepresented communities and the ongoing, insidious discrimination that still exists in our country. 

    DEIA initiatives do more than prevent discrimination—they promote respect, understanding, and the celebration of diverse perspectives. This means ensuring that people of diverse races, backgrounds, and beliefs are present and valued in workplace and educational settings, that everyone receives fair treatment and equal access to opportunities, and that individuals or groups feel welcomed and supported in those settings. Inclusive employment practices such as expanded parental leave and flexible work arrangements acknowledge employees’ diverse needs, family constructs, and abilities.

    Contrary to President Trump’s assertions, the policies he seeks to end do not diminish the importance of individual merit, nor do they mean that employers are lowering their standards, hiring unqualified candidates, or engaging in race-and-sex-based preferences. DEIA initiatives simply ensure that there are fair opportunities for everyone, helping to maximize contributions from all employees and enabling businesses and organizations to succeed in their missions.

    As the chief law enforcement officers for our respective states, we are committed to enforcing federal and state civil rights laws to protect the rights of all our people against discriminatory practices. We condemn discrimination in any form, and we stand in strong opposition to the President’s recent orders and the misleading narrative he has pushed to justify them.” 

    MIL OSI USA News –

  • MIL-OSI Security: Multiple Defendants Indicted or Sentenced on Federal Immigration Charges

    Source: Office of United States Attorneys

    BIRMINGHAM, Ala. – Recently, the federal grand jury in the Northern District of Alabama has indicted several people for illegal reentry after deportation and/or being an alien in possession of a firearm.  Others have been sentenced to federal prison or await further proceedings after pleading guilty to federal immigration-connected charges.

    “Keeping our communities safe is our top priority,” said U.S. Attorney Prim Escalona. “My office is focused on prosecuting individuals who are in our country illegally, especially those who engage in federal crimes. We will continue to work with our federal, state, and local law enforcement partners to ensure that individuals who commit these crimes are held accountable.”

    “The charges and sentences announced today highlight the importance of pursuing criminals who violate our nation’s immigration laws and threaten public safety,” said Steven N. Schrank, Special Agent in Charge of HSI Atlanta that covers Alabama and Georgia. “HSI and our partners remain steadfast in identifying, arresting, and prosecuting illegal aliens who engage in criminal activity, unlawfully possess firearms or commit violence across our communities.”

    Those indicted in November, December, and January include:

    • Elbio Byron Cuz-Chub, 22, of Guatemala, who was charged with being an alien in possession of a firearm;
    • Edgar Bayardo Madriz-Morales, 64, of Nicaragua, who was charged with illegal reentry after deportation;
    • Jorge Campos-Xochihua, 31, of Mexico, who was charged with being an alien in possession of a firearm; and
    • Abraham Lopez-Ramirez, 48, of Mexico, who was charged with illegal reentry after deportation.

    An indictment contains only charges.  A defendant is presumed innocent unless and until proven guilty.

    Several other defendants recently have been adjudicated on federal immigration-related charges.  Those include:

    • Juan Manuel Salas-Sanchez, 43, of Mexico, who was sentenced to 135 months in prison after pleading guilty to possession of methamphetamine with intent to distribute and being an alien in possession of a firearm;
    • Marvin Ernesto Clemente, 38, of El Salvador, who was sentenced to 36 months in prison after pleading guilty to illegal re-entry after deportation;
    • Raul Edgardo Jimenez-Cruz, 38, of Honduras, who was sentenced to 24 months in prison after pleading guilty to possession of cocaine with intent to distribute and illegal reentry after deportation;
    • Jesus Daniel Bibiano-Ruiz, 28, of Mexico, who was sentenced to 12 months in prison after pleading guilty to being an alien in possession of a firearm;
    • Alvaro Amezcua-Gonzalez, 48, of Mexico, who was sentenced to 10 months in prison after pleading guilty to being an alien in possession of a firearm; and
    • Clemente Aguilera-Castaneda, 55, of Mexico, who pleaded guilty to illegal reentry after deportation. A sentencing hearing is scheduled for February 18, 2025.

    Assistant U.S. Attorneys from the Northern District of Alabama will provide regular training to attorneys, federal agents, and state and local law enforcement partners to assist them in investigating and prosecuting immigration offenses in federal court.

    MIL Security OSI –

  • MIL-OSI USA: Welch Reintroduces, Adds Cosponsors to Withstanding Extreme Agricultural Threats by Harvesting Economic Resilience (WEATHER) Act

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    Legislation creates new insurance program for farmers to protect against extreme weather
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) recently led Senators Bernie Sanders (I-Vt.), Elizabeth Warren (D-Mass.), Richard Blumenthal (D-Conn.), Chris Murphy (D-Conn.),and Chris Van Hollen (D-Md.) in reintroducing theWithstanding Extreme Agricultural Threats by Harvesting Economic Resilience (WEATHER) Act, legislation that calls for the development of an index-based insurance policy that is more responsive to crop and income losses faced by farmers as a result of extreme weather. This would be especially beneficial to farmers in Vermont following floods in July 2023 and July 2024, which impacted nearly 31,000 acres of farmland across the state and resulted in at least $50 million in agricultural losses and damages 
    “As we saw during brutal back-to-back floods in Vermont, the consequences of extreme weather events are devastating, and they can vary from farm to farm. It’s crucial that crop insurance meets the needs of our farmers and gets support back to those who need it, quickly,” said Senator Welch. “This commonsense bill works to ensure that all farmers are protected against economic strains caused by extreme weather and get the help they need to recover when a disaster hits. It’s important for Vermont’s family-owned small farms, and it’s important for farmers all across America.” 
    “The current federal crop insurance options are not workable for many of the small and diversified farms we have in Vermont. In the face of flooding and more unpredictable weather due to climate change, the federal government must step up to support farmers, food producers, and small businesses. The WEATHER Act is an important step in ensuring the Federal Crop Insurance Program can respond to the needs of farmers in Vermont and across the northeast,” said Senator Sanders. 
    “For years, I’ve sounded the alarm that uninsured farmers need aid to rebuild from floods and other extreme weather events, especially since these crops are their livelihood,” said Sen. Warren. “The WEATHER Act begins to solve this problem by reimbursing farmers automatically if an extreme weather event occurs, rather than the current system that imposes a large administrative burden on farmers, systematically disadvantaging family-run diversified farms.”   
    “A new normal of thousand-year storms every year has caused chaos for farmers across the country—ruining crops and destroying land—and in recent years, Connecticut farms have been devastated by extreme weather events, including severe flooding and unprecedented droughts. With this essential legislation, we work to improve our farm safety nets for producers in order to make sure they receive the support they need to weather the storm and keep their farms thriving,” said Senator Blumenthal. 
    “Farmers in Connecticut are increasingly dealing with more extreme weather, and we need to make sure they don’t face extra burdens when the next disaster strikes,” said Senator Murphy. “The WEATHER Act would simplify the recovery process by using weather data to trigger automatic insurance payouts, helping farmers get back on their feet quickly with less red tape.” 
    “More frequent floods and drought driven by climate change are threatening the livelihoods of our state’s farmers – from Western Maryland to the Eastern Shore. By modernizing federal crop insurance to account for these growing risks, this legislation will help Maryland’s small family farms get back up and running more quickly following natural disasters and improve the stability of our food supply,” said Senator Van Hollen. 
    “The WEATHER Act of 2025, introduced by Senators Welch, Sanders, and Warren is a thoughtfully and carefully crafted proposal that would direct the Federal Crop Insurance Corporation to collaboratively research and develop an index-based insurance policy designed to support farmers in withstanding agricultural income losses closely correlated with weather conditions—including severe weather or growing conditions applicable to small-scale farmers,” said David Howard, Policy Development Director for the National Young Farmers Coalition. “Young farmers across the country are dealing with the increasingly destructive impacts of the climate crisis on their farms every day. As farmers struggle to rebuild from and manage ongoing and future impacts, it is clear that we need more tools in our agricultural climate risk policy toolbox. Young Farmers endorses the WEATHER Act of 2025, recognizing how this proposal can complement existing resources and strengthen support for young farmers in persevering through these impacts.” 
    Unpredictable weather events exacerbate risks associated with farming, necessitating responsive crop insurance policies. However, producers often opt out of crop insurance due to administrative burdens, high premiums, and low payouts. The WEATHER Act works to better support farmers facing income losses after extreme weather events by reducing administrative hurdles and ensuring that insurance payouts are based on agricultural income losses. The legislation would direct the U.S. Department of Agriculture (USDA) to use its insurance research and development authority to research the possibility of developing an index-based insurance program that: 
    Creates a multi-peril index insurance product for farmers based on weather indices correlated to agricultural income losses using data from National Oceanic and Atmospheric Administration (NOAA), satellites, climate models, and other data sources. 
    Pays out within 30 days in the event of indices exceeding any of the pre-determined county-level thresholds for the following events: High winds, excessive moisture and flooding, extreme heat, abnormal freeze conditions, hail, wildfires, drought, and other perils the Secretary determines appropriate. 
    Learn more about the WEATHER Act. 
    Read the full text of the bill. 

    MIL OSI USA News –

  • MIL-OSI: PROACTIS SA – Press release 31.01.2025 (New address)

    Source: GlobeNewswire (MIL-OSI)

    Transfer of the registered office

    Paris, France – (31 January 2025) — PROACTIS (ISIN code : FR0004052561) announces that its registered office has been transferred from 26-28, quai Gallieni – 92150 Suresnes to 54, rue de Londres – 75008 Paris. The company is now attached to the registry of the Tribunal des Affaires Economiques (formerly the Tribunal de Commerce) in Paris.

    PROACTIS’ Articles of Association have been amended accordingly.

    This transfer of the registered office is in line with the company’s policy of reducing its fixed costs.

    * * * *

    About Proactis SA (https://www.proactis.com/proactis-sa), a Proactis Company

    Proactis SA connects companies by providing business spend management and collaborative business process automation solutions for both goods and services, through The Business Network. Our solutions integrate with any ERP or procurement system, providing our customers with an easy-to-use solution which drives adoption, compliance and savings.

    Proactis SA has operations in France, Germany, USA and Manila.

    Listed in Compartment C on the Euronext Paris Eurolist.

    ISIN: FR0004052561, Euronext: PROAC, Reuters: HBWO.LN, Bloomberg: HBW.FP

    Contacts
    Tel: +33 (0)1 53 25 55 00
    E-mail: investorContact@proactis.com

    * * * *

    Attachment

    The MIL Network –

  • MIL-OSI: Wisdomtree Multi Asset Issuer Public Limited Company (the “issuer”) WISDOMTREE S&P 500 3X DAILY LEVERAGED (ISIN: IE00B7Y34M31) NOTIFICATION OF CHANGE IN THE DAILY SWAP FEE AND FUNDING SPREAD

    Source: GlobeNewswire (MIL-OSI)

    31 January 2025

    LEI: 2138003QW2ZAYZODBU23

    WISDOMTREE MULTI ASSET ISSUER PUBLIC LIMITED COMPANY (THE “ISSUER”)
    (a public company incorporated with limited liability in Ireland)

    WISDOMTREE S&P 500 3X DAILY LEVERAGED (ISIN: IE00B7Y34M31)
    (THE “AFFECTED SECURITIES”)

    NOTIFICATION OF CHANGE IN THE DAILY SWAP FEE AND FUNDING SPREAD OF THE AFFECTED SECURITIES

    Terms not defined in this notice shall have the meaning ascribed to them in the Issuer’s Base Prospectus dated 5 September 2024.

    BNP Paribas acts as Swap Provider for the Affected Securities.

    The Issuer and the Swap Provider have agreed with the Issuer to reduce the Daily Swap Rate of the Affected Securities, as permitted pursuant to the terms of the Swap Provider Agreement and in accordance with paragraph 2.2(iii) of Annex A of the Conditions of the Affected Securities. The Issuer announces that the Daily Swap Rate for the following Affected Securities will be amended from 0.00233% to 0.00136%.

    As also permitted under paragraph 2.2(iii) of Annex A of the Conditions of the Affected Securities, the Swap Provider has notified the Issuer of its intention to amend the Funding Spread of the Affected Securities from 0.50% to 1.10% per annum.

    The Trustee, the Manager and the Issuer have entered into an amendment to the supplemental trust deed for each class of Affected Securities to effect the aforementioned changes (the “Affected Securities Amendments”). The effective date of the Affected Securities Amendments shall be 1 February 2025.

    For further information, please contact: europesupport@wisdomtree.com

    The MIL Network –

  • MIL-OSI: Stellar V Capital Corp. Announces Closing of $150 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 31, 2025 (GLOBE NEWSWIRE) — Stellar V Capital Corp. (the “Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, today announced the closing of its initial public offering of 15,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000.

    The Company’s units began trading on January 30, 2025 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “SVCCU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants will be traded on Nasdaq under the symbols “SVCC” and “SVCCW,” respectively.

    The Company’s management team is led by co-CEOs Prokopios (Akis) Tsirigakis and George Syllantavos who are also the Company’s directors. In addition, the Company’s board includes Nicolas Bornozis, Christopher Thomas and Harry Braunstein.

    The Company intends to use the net proceeds from the offering, and the simultaneous private placements of units and warrants, to consummate the Company’s initial business combination.

    BTIG, LLC acted as sole book-running manager for the offering.

    The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from BTIG, LLC, 65 East 55th Street New York, New York 10022, or by email at ProspectusDelivery@btig.com or by accessing the Securities and Exchange Commission (“SEC”)’s website, www.sec.gov.

    A registration statement relating to the securities has been filed with, and declared effective by the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Stellar V Capital Corp.

    Stellar V Capital Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

    Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds thereof and the Company’s search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the IPO filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    The MIL Network –

  • MIL-OSI: Interim Financial Report 2024/2025

    Source: GlobeNewswire (MIL-OSI)

    Regulated information, Leuven, 31 January 2025 (17.40 hrs CET)

    Interim Financial Report 2024/2025

    KBC Ancora recorded a profit of EUR 73.9 million in the first half of the financial year 2024/2025. This compared with a profit of EUR 72.9 million in the same period in the previous financial year. The result for the first six months of the financial year was determined chiefly by dividend income totalling EUR 77.5 million from the participating interest in KBC Group, operating costs of EUR 1.5 million and interest charges amounting to EUR 2.3 million.

    Abridged financial summaries and notes1

    Results for the first half of financial year 2024/2025

      1H fin. year

    (x EUR 1,000)

    		 2024/2025
    per share
    (in EUR)    		 1H fin. year

    (x EUR 1,000)

    		 2023/2024

    per share
    (in EUR)
    Income 77,738 1.01 77,953 1.01
    Operating income 0 0.00 0 0.00
    Recurring financial income 77,738 1.01 77,953 1.01
    Expenses -3,805 -0.05 -5,074 -0.07
    Operating costs -1,536 -0.02 -1,567 -0.02
    Financial expenses -2,269 -0.03 -3,508 -0.05
    Result after taxes 73,933 0.96 72,879 0.95
    Number of shares in issue*   77,011,844   77,011,844

    * No instruments have been issued which could lead to dilution.        

    KBC Ancora recorded a profit of EUR 73.9 million in the first six months of the current financial year, equivalent to EUR 0.96 per share, compared with a profit of EUR 72.9 million in the same period in the previous financial year.

    Income consisted principally of dividend received on the participating interest in KBC Group (EUR 77.5 million) and interest income on term investments (EUR 0.2 million). Expenses principally comprised interest charges on debt (EUR 2.3 million) and operating costs (EUR 1.5 million).

    Balance sheet as at 31 December 2024

    (x EUR 1,000) 31.12.2024 *30.06.2024
    BALANCE SHEET TOTAL 3,660,323 3,599,986
    Assets    
    Fixed assets 3,599,979 3,599,979
    Current assets 60,344 8
    Investments (other) 59,700 0
    Cash at bank and in hand 611 1
    Accrued income and deferred expense 33 7
    Liabilities    
    Equity 3,557,524 3,483,591
    Contribution 3,158,128 3,158,128
    Legal reserve 175,258 175,258
    Available reserves 149,427 149,427
    Profit (loss) carried forward 777 777
    Result for the period 73,933 n/a
    Creditors 102,798 116,396
       Amounts falling due after more than one year 100,000 100,000
    Amounts falling due within one year 419 16,050
    Accrued expense and deferred income 2,379 345

    * The balance sheet at 30 June 2024 is shown after appropriation of the result.

    The balance sheet total at 31 December 2024 stood at EUR 3.7 billion, an increase of EUR 60.3 million compared with the end of the financial year 2023/2024.

    The number of shares held by KBC Ancora in KBC Group remained unchanged at 77,516,380. The book value of these shares was EUR 46.44 per share (i.e. the historical acquisition cost). The price of the KBC Group share stood at EUR 74.54 on 31 December 2024, while the IFRS equity value amounted to EUR 54.1 per KBC Group share on 30 September 2024.
    Current assets increased by EUR 60.3 million to EUR 60.3 million, principally the result of interim dividend received in November 2024 on the participating interest in KBC Group (EUR +77.5 million) and the repayment of short-term financial debt (EUR -15.6 million).

    Total equity rose by EUR 73.9 million. This increase was due to the result in the first half of the current financial year (EUR 73.9 million).
    Debt showed a net reduction of EUR 13.6 million, due on the one hand to the repayment of short-term financial debt totalling EUR 15.6 million, and on the other an increase of EUR 2.0 million in the (pro rata) interest charges in respect of the first half of the financial year.

    Interim report on the first six months of the current financial year 2024/2025

    Notes on the first half of the current financial year 2024/2025

    Extension of shareholder agreement concerning the anchoring of KBC Group

    On 29 November 2024 Cera and KBC Ancora, together with MRBB and the Other Permanent Shareholders, confirmed that they would be extending unchanged their collaboration as a syndicate with respect to KBC Group for a further term of ten years. The extension of the syndicate agreement came into effect on 1 December 2024. Cera, KBC Ancora, MRBB and Other Permanent Shareholders will henceforth collectively hold 41.7% of the total number of KBC Group shares. In this way, the shareholders concerned will continue to ensure the shareholder stability and support the further development of the KBC group.

    Result for the first six months of the financial year 2024/2025

    KBC Ancora recorded a profit of EUR 73.9 million in the first six months of the current financial year, compared with a profit of EUR 72.9 million in the same period in the previous financial year.

    This result was influenced principally by the following factors:

    • Dividend income totalling EUR 77.5 million. As in the same period in the previous financial year, this consisted of an interim dividend of EUR 1.00 per KBC Group share.
    • Interest income totalling EUR 0.2 million on term investments, compared with EUR 0.4 million in the same period in the previous financial year.
    • Interest charges amounting to EUR 2.3 million, a reduction of EUR 1.2 million compared with the same period in the previous financial year, due to the reduction in outstanding financial debt.
    • Operating expenses amounting to EUR 1.5 million, in line with the previous financial year. The operating expenses consisted primarily of costs incurred under the cost-sharing agreement with Cera (EUR 1.2 million). There were also the usual expenses, such as listing costs and costs associated with the statutory director.

    Participating interest in KBC Group, net debt position and net asset value

    The number of KBC Group shares in portfolio remained unchanged during the past six months at 77,516,380.

    The net asset value of the KBC Ancora share is defined as 1.0066 times2 the price of the KBC Group share, less the net debt3 per share. KBC Ancora’s net debt position at 31 December 2024 stood at EUR 0.55 per share.

    Based on the price of the KBC Group share on 31 December 2024 (EUR 74.54), the net asset value of one KBC Ancora share amounted to EUR 74.48, and the KBC Ancora share (EUR 50.50) was trading at a discount of 32.2% to the net asset value.

    The following charts illustrate the movements in the price of the KBC Group and KBC Ancora shares and the discount of the KBC Ancora share to its net asset value.

    Trend in KBC Group and KBC Ancora share price
    (January – December 2024)    		 Trend in discount of KBC Ancora share to its net asset value (January – December 2024)
       

    Principal risks and uncertainties in the remaining months of the financial year

    Certain risk factors could have an impact on the value of the assets held by KBC Ancora and on its ability to distribute a dividend. Reference is made in this regard to the description of the risks in the most recent annual report (page 20).

    KBC Ancora’s expenses in the second half of the current financial year (2024/2025) will consist principally of interest charges plus the usual limited operating expenses. KBC Ancora estimates the total expenses in respect of the full financial year 2024/2025 at approximately EUR 8 million.

    KBC Group reported a net result of EUR 2.3 billion for the first nine months of 2024. KBC Group will announce its annual result for the financial year 2024 on 13 February 2025.

    Partly dependent on the decisions taken by KBC Group regarding the distribution in the first half of 2025 of a final dividend in respect of financial year 2024, the Board of Directors of Almancora Société de gestion, statutory director of KBC Ancora, will take a decision at the end of May 2025 on whether to distribute an interim dividend in June 2025 in respect of financial year 2024/2025, in line with its dividend policy. KBC Ancora’s dividend policy sets out the intention to pay out 90% of the recurring result available for distribution in the form of an (interim) dividend (i.e. after adjustment for any exceptional results and after mandatory formation of the legal reserve).

    Declaration by the responsible individuals

    “We, the members of the Board of Directors of Almancora Société de gestion, statutory director of KBC Ancora SA, hereby jointly declare that, in so far as we are aware:

    a)   the abridged financial summaries, drawn up in accordance with the applicable standards for financial statements, present a true and fair picture of the capital position, financial position and results of KBC Ancora;

    b)   the interim financial report presents a true and fair view of the key events and principal transactions with affiliated parties during the first six months of the current financial year and of their impact on the abridged financial summaries, as well as a description of the principal risks and uncertainties during the remaining months of the financial year.”

    Information on the external audit

    The statutory auditor has reviewed the abridged interim financial information and accompanying notes. The auditor’s report is appended to this interim report.

            ———————————

    KBC Ancora is a listed company which holds 18.6% of the shares in KBC Group and which together with Cera, MRBB and the Other Permanent Shareholders is responsible for the shareholder stability and further development of the KBC group. As core shareholders of KBC Group, these parties have signed a shareholder agreement to this effect.

    Financial calendar:
    29 August 2025 (17.40 hrs CEST)        Annual press release for the financial year 2024/2025
    30 September 2025 (17.40 CEST)        Annual Report 2024/2025 available
    31 October 2025        General Meeting of Shareholders

    This press release is available in Dutch, French and English on the website www.kbcancora.be.

    KBC Ancora Investor Relations & Press contact: Jan Bergmans
    Tel.: +32 (0)16 279672
    E-mail: jan.bergmans@kbcancora.be or mailbox@kbcancora.be

    Appendix: Balance sheet and profit and loss account with comparative figures

    (x EUR 1,000) 31.12.2024 *30.06.2024
    BALANCE SHEET TOTAL 3,660,323 3,599,986
    Assets    
    Fixed assets 3,599,979 3,599,979
    Financial fixed assets 3,599,979 3,599,979
    Companies with which there is a participatory   
    relationship    		 3,599,979 3,599,979
    Participating interests 3,599,979 3,599,979
    Current assets 60,344 8
    Investments 59,700 0
    Other investments 59,700 0
    Cash at bank and in hand 611 1
    Accrued income and deferred expense 33 7
    Liabilities    
    Equity 3,557,524 3,483,591
    Contribution 3,158,128 3,158,128
    Issued capital 3,158,128 3,158,128
    Reserves 324,686 324,686
       Unavailable reserves 175,258 175,258
    Legal reserve 175,258 175,258
    Available reserves 149,427 149,427
    Profit/loss carried forward 777 777
    Profit/loss for the period 73,933 n/a
    Creditors 102,798 116,396
    Amounts falling due after more than one year 100,000 100,000
    Financial liabilities 100,000 100,000
    Credit institutions 100,000 100,000
    Amounts falling due within one year 419 16,050
    Financial liabilities 0 15,635
    Credit institutions 0 15,635
    Trade creditors 159 173
    Suppliers 159 173
    Other creditors 260 241
    Accrued expense and deferred income 2,379 345

    * The balance sheet at 30 June 2024 is shown after appropriation of the result.

    (x EUR 1,000) 01.07.2024-31.12.2024 01.07.2023-31.12.2023
         
    Operating income 0 0
    Other operating income 0 0
    Operating costs 1,536 1,567
    Services and sundry goods 1,535 1,417
    Other operating costs 0 149
    Operating results -1,536 -1,567
         
    Financial income 77,738 77,953
    Recurring financial income 77,738 77,953
    Income from financial fixed assets 77,516 77,516
    Income from current assets 222 437
    Financial expenses 2,269 3,508
    Recurring financial charges 2,269 3,508
    Cost of debt 2,269 3,508
    Other financial expenses 0 0
    Financial result 75,469 74,445
         
    Profit (loss) before tax 73,933 72,879
         
    Profit (loss) after tax 73,933 72,879

    Statutory auditor’s report to the board of directors of KBC Ancora NV on the review of the condensed interim financial information as at 31 December 2024 and for the 6-month period then ended

    FREE TRANSLATION OF THE ORIGINAL IN DUTCH

    Introduction

    We have reviewed the accompanying interim financial report 2024/2025, containing the condensed balance sheet of KBC Ancora NV as at 31 December 2024, the condensed profit and loss account for the 6-month period then ended, as well as the notes (“the condensed interim financial information”). The board of directors is responsible for the preparation and presentation of this condensed interim financial information in accordance with the financial reporting framework applicable in Belgium for the preparation of condensed interim financial information. Our responsibility is to express a conclusion on this condensed interim financial information based on our review.

    Scope of Review

    We conducted our review in accordance with the International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity.” A review of condensed interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

    Conclusion

    Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial information as at 31 December 2024 and for the 6-month period then ended has not been prepared, in all material respects, in accordance with the financial reporting framework applicable in Belgium for the preparation of condensed interim financial information.

    Diegem, 31 January 2025

    The statutory auditor,
    PwC Reviseurs d’Entreprises SRL / Bedrijfsrevisoren BV
    Represented by

    Damien Walgrave*
    Bedrijfsrevisor / Réviseur d’Entreprises

    * Acting in behalf of Damien Walgrave BV/SRL

    1         KBC Ancora’s reporting is based on Belgian GAAP. The valuation principles are set out in the filed annual
            financial statements and in the annual report.
            See Appendix for the balance sheet and profit and loss account.
    2         Number of KBC Group shares held / number of KBC Ancora shares in issue: 1.0066
            (= 77,516,380 / 77,011,844).
    3         Net debt is defined here as total liabilities less total assets excluding financial fixed assets.

    Attachment

    The MIL Network –

  • MIL-OSI: Santander Chile announces Andrés Trautmann Buc as new Chief Executive Officer (CEO) and Country Head

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, Jan. 31, 2025 (GLOBE NEWSWIRE) — Banco Santander Chile (NYSE: BSAC) announces that Mr. Andrés Trautmann Buc will take over as CEO and Country Head, replacing Mr. Román Blanco Reinosa. This change will occur on July 1, 2025 and, until then, Mr. Blanco will remain as the bank’s CEO, while Mr. Trautmann will continue to lead the Executive Vice President of Santander Corporate & Investment Banking (CIB).

    Mr. Trautmann, a commercial engineer from Universidad de Chile, has a distinguished career at Santander, since joining the Group in 2007. He began his career as Head of Institutional and Corporate Sales at Santander Chile. Between 2010 and 2012, he served as Head of Structured Products Sales in London for Santander UK. Between 2013 and 2018 he oversaw the Andean Zone sales for Goldman Sachs in New York. In 2018, he became the Head of Markets Santander Chile, and in 2021, he was appointed Executive Vice President of CIB at Santander Chile, a global division that supports corporate and institutional clients with high-value services, products and solutions.

    Since his initial position in Markets, Mr. Trautmann has achieved significant milestones, including tripling the growth of the Sales and Trading business. At CIB, he led and promoted the expansion of products for large companies by leveraging the global capabilities of the Santander Group. Recently, he also took on the Corporate and Institutional Banking business and Santander Consumer Finance, giving him a comprehensive view of the bank’s operations. His leadership and deep knowledge of the business and markets will continue to strengthen the bank’s position in the country.

    Santander thanks Román Blanco, who, in his role as CEO and Country Head, has led a successful process accelerating the transformation of the bank’s business models in Chile and its technology, strengthening the growth of Getnet and Santander Consumer Finance. Additionally, he promoted the launch of the Más Lucas and Más Lucas Joven account. Also noteworthy is the implementation of Gravity in Chile, positioning the entity as the first local bank with a banking core migrated to Cloud technologies. Among the achievements under his supervision are the implementation of specialized service models for companies, as well as the evolution of branch strategies, with Work/Café Expresso as an example.

    During Mr. Blanco´s leadership, Santander has achieved an ROAE during the 4Q of 2024 of 26% and a total profit of $865 billion pesos corresponding to last year. This is reflected in the company’s high valuations, with a P/BV of 2.2x, standing out among the highest of Latin American banks and with an A2 international credit rating according to Moody’s.

    It should be noted that Mr. Blanco has extensive international experience with more than 20 years within the Group. His main functions include having being Country Head in several operations such as the US, Puerto Rico and Colombia, in addition to leading the bank in the Andean region and Uruguay and having extensive experience in business management in Santander Brazil.

    CONTACT INFORMATION

    Cristian Vicuña
    Investor Relations
    Banco Santander Chile
    Bandera 140, Floor 20
    Santiago, Chile
    Email: irelations@santander.cl
    Website: www.santander.cl

    Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody’s, A- from Standard and Poor’s, A+ from Japan Credit Rating Agency, AA- from HR Ratings and A from KBRA. All our ratings as of the date of this report have a stable outlook.

    As of December 31, 2024, the Bank has total assets of $68,458,933 million (US$68,865 million), total gross loans (including loans to banks) at amortized cost of $41,323,844 million (US$41,569 million), total deposits of $31,359,234 million (US$31,545 million) and shareholders’ equity of $4,292,440 million (US$4,318 million). The BIS capital ratio was 17.1%, with a core capital ratio of 10.5%. As of December 31, 2024, Santander Chile employs 8,757 people and has 236 branches throughout Chile.

    The MIL Network –

  • MIL-OSI: Bank of the James Announces Fourth Quarter, Full Year of 2024 Financial Results and Declaration of Dividend

    Source: GlobeNewswire (MIL-OSI)

    LYNCHBURG, Va., Jan. 31, 2025 (GLOBE NEWSWIRE) — Bank of the James Financial Group, Inc. (the “Company”) (NASDAQ:BOTJ), the parent company of Bank of the James (the “Bank”), a full-service commercial and retail bank, and Pettyjohn, Wood & White, Inc. (“PWW”), an SEC-registered investment advisor, today announced unaudited results of operations for the three month and 12 month periods ended December 31, 2024. The Bank serves Region 2000 (the greater Lynchburg MSA) and the Blacksburg, Buchanan, Charlottesville, Harrisonburg, Lexington, Nellysford, Roanoke, and Wytheville, Virginia markets.

    Net income for the three months ended December 31, 2024 was $1.62 million or $0.36 per basic and diluted share compared with $2.11 million or $0.45 per basic and diluted share for the three months ended December 31, 2023. Net income for the 12 months ended December 31, 2024 was $7.94 million or $1.75 per share compared with $8.70 million or $1.91 per share for the year 12 months ended December 31, 2023.

    Robert R. Chapman III, CEO of the Bank, commented: “Our Company delivered another year of high-quality earnings driven by a wide range of banking products, services, and investment management. These diversified sources of revenue were supported by a large regional market and broad base of commercial and retail clients, enabling the Company and the Bank to record strong financial performance and grow shareholder value in a year that presented its share of economic changes and challenges.

    “With a more stable interest rate environment, we made new loans and repriced existing loans to accurately reflect prevailing rates, which generated a positive trend in yields on earning assets. We began to slow the rate of interest expense increases that have characterized the past three years. Although margins continue to experience pressure, there was net interest margin expansion beginning in the second half of 2024 – a positive trend that we anticipate will continue in coming quarters.

    “Noninterest income was an important component of earnings that included fee income from commercial treasury management, wealth management through PWW, gains on the sale of originated residential mortgages, card services and more. Led by healthy growth in these activities, noninterest income in 2024 rose 18% from a year earlier.

    “Total loans, net, increased 6% in 2024, with commercial real estate loan growth leading the way. Commercial & industrial and commercial construction loan portfolios grew moderately year-over-year. Residential mortgages increased 6% as we continued our practice of selling most originated mortgages to the secondary market. Our mortgage lending team did an outstanding job of maintaining our Bank’s leadership as a premier mortgage originator in the markets we serve.

    “Key to generating consistent, predictable earnings is maintaining high levels of loan quality through credit management. Measures such as asset quality ratios, total nonperforming loans, and provisioning for credit losses continue reflect exceptional credit management. Our credit management team, headed by Chief Credit Officer Chip Umberger, continue to do outstanding work ensuring loan quality.

    “Total deposits increased in 2024 compared with 2023. We remain focused on growing deposits from commercial and retail customers, particularly core deposits, and building this important source of funding for loans and providing liquidity. During the year, we opened strategic locations in Buchanan and Nellysford, Virginia, further expanding the Bank’s deposit-gathering capabilities and value to customers.

    “We provided meaningful value to our shareholders in 2024. Solid earnings, strong asset quality and efficient operation contributed to a consistent, longstanding trend of enhancing the Company’s value to its shareholders. Stockholders’ equity rose 8% from a year earlier, retained earnings increased by more than $6 million, and book value per share rose to $14.28 at December 31, 2024 from $13.21 a year earlier. The Company also paid quarterly cash dividends to shareholders, as it has for many years.

    “We believe the Company is well-positioned for the coming year, continuing on a path of providing superior value to our shareholders, customers and communities.”

    Fourth Quarter and Full Year of 2024 Highlights

    • Net income and earnings per share (EPS) in the fourth quarter and full year of 2024 was impacted by higher noninterest expense, which included a $534,000 fee related to the negotiation of a contract with a credit/debit card processor. Over the term of the contract, the Company expects to recognize up to $438,000 in incentive payments from the card processor, and anticipates generating additional long-term benefits and savings of $2.1 million associated with the contract.
    • Total interest income rose 13% to $44.64 million for the full year of 2024 compared with $39.36 million in 2023. The growth primarily reflected commercial loan interest rates, commercial real estate (CRE) growth, and the addition of higher-rate residential mortgages. The average yield earned on loans, including fees, increased to 5.50% in 2024 compared with 5.05% in 2023.
    • Net interest income after provision for (recovery of) credit losses in the full year of 2024 was $29.89 million compared with $29.92 million for the full year of 2023. The full year of 2024 reflected loan loss recoveries driven by strong asset quality, and the impact of elevated interest expense.
    • Net interest margin in the fourth quarter of 2024 was 3.18%, trending up from 3.16% in the third quarter and 3.02% in the second quarter of 2024, reflecting continuing margin expansion. Net interest margin for the full year of 2024 was 3.11% compared with 3.29% in 2023. Interest spread for the full year of 2024 was 2.78% compared with 3.06% a year earlier.
    • Total noninterest income for the full year of 2024 was $15.14 million, up 17.64% from $12.87 million a year earlier. Growth primarily reflected gains on sale of loans held for sale, fee income generated by commercial treasury services and residential mortgage originations, and wealth management fee income from PWW, which contributed $0.34 per share to earnings in 2024.
    • Loans, net of the allowance for credit losses, increased 6% to $636.55 million at December 31, 2024 compared with $601.92 million at December 31, 2023.
    • Commercial real estate loans (owner occupied and non-owner occupied) grew 9% to $335.53 million at December 31, 2024 from $306.86 million a year earlier.
    • Measures of asset quality included a ratio of nonperforming loans to total loans of 0.25% at December 31, 2024, low levels of nonperforming loans, and zero other real estate owned (OREO).
    • Total assets were $979.24 million at December 31, 2024 compared with $969.37 million at December 31, 2023.
    • Total deposits were $882.40 million at December 31, 2024, up from $878.46 million at December 31, 2023.
    • Shareholder value measures included 8% growth in stockholders’ equity at December 31, 2024 from a year earlier, retained earnings of $42.80 million, up from $36.68 million a year earlier, and a book value per share of $14.28 compared with $13.21 at December 31, 2023.
    • On January 21, 2025 the Company’s board of directors approved a quarterly dividend of $0.10 per common share to stockholders of record as of March 7, 2025, to be paid on March 21, 2025.

    Fourth Quarter, Full Year of 2024 Operational Review

    Net interest income after provision for (recovery of) credit losses for the fourth quarter of 2024 was $7.76 million compared to net interest income after provision for credit losses of $7.29 million a year earlier. In the full year of 2024, net interest income after recovery of credit losses was $29.89 million compared with $29.92 a year earlier. The credit loss recovery in the full year of 2024 was $655,000 compared with $179,000 in the full year of 2023.

    Total interest income increased to $11.64 million in the fourth quarter of 2024 compared with $10.54 million a year earlier. The full year of 2024 total interest income was $44.64 million, up from $39.36 million in the full year of 2023. The year-over-year increases primarily reflected upward rate adjustments to variable rate commercial loans and new loans reflecting the prevailing rate environment.

    During 2024, investment portfolio management and appropriate rate increases on loans contributed to year-over-year growth in yields on total earning assets, which were 4.75% in 2024 compared with 4.36% in 2023.

    Total interest expense in the fourth quarter of 2024 was $3.95 million and $15.41 million for the full year of 2024, increasing 25.44% and 60.12% from $3.15 and $9.62 in the comparable periods of 2023. The increase primarily reflects higher deposit rates commensurate with the prevailing interest rate environment, and also more interest-bearing deposits.

    A stabilizing interest rate environment contributed to some margin pressure relief, particularly in the second half of 2024. For the full year of 2024, the net interest margin was 3.11% compared with 3.29% a year earlier, while interest spread was 2.78% for the full year of 2024, compared with 3.06% a year earlier.

    Noninterest income in the fourth quarter of 2024 rose 20% to $3.82 million compared with $3.18 million in the fourth quarter of 2023. For the full year of 2024, noninterest income was up 18% to $15.14 million from $12.87 million in 2023.

    Noninterest income in 2024 included income contributions from debit card activity, a write-up on an investment in an SBIC fund, commercial treasury services, and the mortgage division. Strong contributions from wealth management fees, primarily generated by PWW, were $4.84 million in 2024, up from $4.20 million a year earlier. Steady activity in residential mortgage originations throughout 2024 was reflected in gains on sale of loans held for sale of $4.49 million compared with $3.94 million a year earlier.

    Noninterest expense in the fourth quarter of $9.50 million compared with $8.42 million in the fourth quarter of 2023. Noninterest expense for the full year of 2024 was $35.11 million compared with $32.51 million for the full year of 2023. As previously noted, noninterest expense was impacted by a one-time payment to a consultant that helped negotiate a contract with a debit card provider, recorded in the fourth quarter of 2024. We will recognize incentive payments and cost savings from the underlying contract in subsequent quarters. Diligent expense management, judicious personnel expenses related to new locations, and accrual of year-end employee compensation throughout the year contributed to stable year-over-year salaries and employee benefits costs in the fourth quarter and full year of 2024.

    Balance Sheet: Strong Cash Position, High Asset Quality

    Total assets were $979.24 million at December 31, 2024 compared with $969.37 million at December 31, 2023, with the increase primarily reflecting loan growth.

    Loans, net of allowance for credit losses, were $636.55 million at December 31, 2024 compared with $601.92 million at December 31, 2023, primarily reflecting growth of commercial real estate loans and stability in other loan categories.

    Commercial real estate loans (owner-occupied and non-owner occupied and excluding construction loans) were $335.53 million at December 31, 2024 compared with $306.86 million at December 31, 2023, reflecting new loans and a decreasing rate of loan payoffs. Of this amount, commercial real estate (non-owner occupied) was approximately $195.09 million and commercial real estate (owner occupied) was $140.44 million. The Bank closely monitors concentrations in these segments, and has no commercial real estate loans secured by large office buildings in large metropolitan city centers.

    Commercial construction/land loans and residential construction/land loans were $50.04 million at December 31, 2024 compared with $50.28 million at December 31, 2023. The Company continued experiencing positive activity and health in commercial and residential construction projects. Commercial and industrial loans were $66.42 million at December 31, 2024 compared with $65.32 million at December 31, 2023, reflecting a continuing trend of stability in this loan segment.

    Residential mortgage loans that we intend to keep on the balance sheet were $113.30 million at December 31, 2024 compared with $106.99 million at December 31, 2023. Growth of these retained mortgages has been minimal, as the Bank has continued to focus on selling the majority of originated mortgage loans to the secondary market. Consumer loans (open-end and closed-end) were $78.31 million at December 31, 2024 compared with $76.52 million at December 31, 2023.

    Ongoing high asset quality continues to have a positive impact on the Company’s financial performance. The ratio of nonperforming loans to total loans at December 31, 2024 was 0.25% compared with 0.06% at December 31, 2023. The allowance for credit losses on loans to total loans was 1.09% at December 31, 2024 compared with 1.22% on December 31, 2023. Total nonperforming loans were $1.64 million at December 31, 2024. As a result of having no OREO, total nonperforming assets were the same as total nonperforming loans.

    Total deposits were $882.40 million at December 31, 2024, compared with $878.46 million at December 31, 2023. Noninterest bearing demand deposits, NOW, money market and savings were down moderately compared with 2023 and time deposits increased. At both December 31, 2024 and December 31, 2023, the Bank had no brokered deposits.

    Key measures of shareholder value were positive. Stockholders’ equity increased 8% to $64.87 million at December 31, 2024 from $60.04 million a year earlier. Retained earnings increased to $42.80 million at December 31, 2024 compared with $36.68 million a year earlier. Book value per share was $14.28 compared with $13.21 at December 31, 2023, but down from $15.15 at September 30, 2024, in part reflecting quarterly fluctuations in required fair market valuations of the Company’s available-for-sale investment portfolio.

    Some balance sheet measures are impacted by interest rate fluctuations and fair market valuation measurements in the Company’s available-for-sale securities portfolio and are reflected in accumulated other comprehensive loss. These mark-to-market losses are excluded when calculating the Bank’s regulatory capital ratios. The available-for-sale securities portfolio is composed primarily of securities with explicit or implicit government guarantees, including U.S. Treasuries and U.S. agency obligations, and other highly-rated debt instruments. The Company does not expect to realize the unrealized losses as it has the intent and ability to hold the securities until their recovery, which may be at maturity. Management continues to diligently monitor the creditworthiness of the issuers of the debt instruments within its securities portfolio.

    About the Company

    Bank of the James, a wholly-owned subsidiary of Bank of the James Financial Group, Inc. opened for business in July 1999 and is headquartered in Lynchburg, Virginia. The Bank currently services customers in Virginia from offices located in Altavista, Amherst, Appomattox, Bedford, Blacksburg, Buchanan, Charlottesville, Forest, Harrisonburg, Lexington, Lynchburg, Madison Heights, Nellysford, Roanoke, Rustburg, and Wytheville. The Bank offers full investment and insurance services through its BOTJ Investment Services division and BOTJ Insurance, Inc. subsidiary. The Bank provides mortgage loan origination through Bank of the James Mortgage, a division of Bank of the James. The Company provides investment advisory services through its wholly-owned subsidiary, Pettyjohn, Wood & White, Inc., an SEC-registered investment advisor. Bank of the James Financial Group, Inc. common stock is listed under the symbol “BOTJ” on the NASDAQ Stock Market, LLC. Additional information on the Company is available at www.bankofthejames.bank.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “plan” and similar expressions and variations thereof identify certain of such forward-looking statements which speak only as of the dates on which they were made. Bank of the James Financial Group, Inc. (the “Company”) undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Such factors include, but are not limited to, competition, general economic conditions, potential changes in interest rates, changes in the value of real estate securing loans made by the Bank as well as geopolitical conditions. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company’s filings with the Securities and Exchange Commission.

    CONTACT: J. Todd Scruggs, Executive Vice President and Chief Financial Officer (434) 846-2000.

    FINANCIAL RESULTS FOLLOW

    Bank of the James Financial Group, Inc. and Subsidiaries
    Consolidated Balance Sheets
    (dollar amounts in thousands, except per share amounts)

      (unaudited)    
    Assets 12/31/2024   12/31/2023
    Cash and due from banks $ 23,287     $ 25,613  
    Federal funds sold   50,022       49,225  
    Total cash and cash equivalents   73,309       74,838  
           
    Securities held-to-maturity (fair value of $3,170 and $3,231 as of December 31, 2024 and 2023)   3,606       3,622  
    Securities available-for-sale, at fair value   187,916       216,510  
    Restricted stock, at cost   1,821       1,541  
    Loans, net of allowance for credit losses of $7,044 and $7,412 as of December 31, 2024 and 2023   636,552       601,921  
    Loans held for sale   3,616       1,258  
    Premises and equipment, net   19,313       18,141  
    Interest receivable   3,065       2,835  
    Cash value – bank owned life insurance   22,907       21,586  
    Customer relationship Intangible   6,725       7,285  
    Goodwill   2,054       2,054  
    Income taxes receivable   –       128  
    Deferred tax asset   8,936       8,206  
    Other assets   9,424       9,446  
    Total assets $ 979,244     $ 969,371  
           
    Liabilities and Stockholders’ Equity      
    Deposits      
    Noninterest bearing demand $ 129,692     $ 134,275  
    NOW, money market and savings   522,208       538,229  
    Time   230,504       205,955  
    Total deposits   882,404       878,459  
           
    Capital notes, net   10,048       10,042  
    Other borrowings   9,300       9,890  
    Income taxes payable   86       –  
    Interest payable   722       480  
    Other liabilities   11,819       10,461  
    Total liabilities $ 914,379     $ 909,332  
           
    Stockholders’ equity      
    Common stock $2.14 par value; authorized 10,000,000 shares; issued and outstanding 4,543,338 as of December 31, 2024 and 2023   9,723       9,723  
    Additional paid-in-capital   35,253       35,253  
    Accumulated other comprehensive (loss)   (22,915 )     (21,615 )
    Retained earnings   42,804       36,678  
    Total stockholders’ equity $ 64,865     $ 60,039  
           
    Total liabilities and stockholders’ equity $ 979,244     $ 969,371  
     
     

    Bank of the James Financial Group, Inc. and Subsidiaries
    Consolidated Statements of Income
    (dollar amounts in thousands, except per share amounts)
    (unaudited)

        For the Year Ended
        Ended December 31,
    Interest Income     2024       2023  
    Loans   $ 34,505     $ 31,378  
    Securities        
    US Government and agency obligations     1,471       1,273  
    Mortgage-backed securities     2,381       1,899  
    Municipals     1,244       1,212  
    Dividends     95       82  
    Corporates     543       560  
    Interest bearing deposits     775       496  
    Federal Funds sold     3,629       2,462  
    Total interest income     44,643       39,362  
             
    Interest Expense        
    Deposits        
    NOW, money market savings     5,455       2,984  
    Time Deposits     9,173       5,796  
    FHLB borrowings     –       31  
    Finance leases     76       86  
    Other borrowings     376       398  
    Capital notes     327       327  
    Total interest expense     15,407       9,622  
             
    Net interest income     29,236       29,740  
             
    Recovery of credit losses     (655 )     (179 )
             
    Net interest income after recovery of credit losses     29,891       29,919  
             
    Noninterest income        
    Gains on sale of loans held for sale     4,494       3,938  
    Service charges, fees and commissions     4,003       3,901  
    Wealth management fees     4,843       4,197  
    Life insurance income     721       548  
    Other     1,014       283  
    Gain on sales of available-for-sale securities     62       –  
             
    Total noninterest income     15,137       12,867  
             
    Noninterest expenses        
    Salaries and employee benefits     19,294       18,311  
    Occupancy     1,964       1,819  
    Equipment     2,499       2,416  
    Supplies     542       530  
    Professional, data processing, and other outside expense     6,528       5,296  
    Marketing     768       919  
    Credit expense     816       805  
    Other real estate expenses, net     –       40  
    FDIC insurance expense     441       419  
    Amortization of intangibles     560       560  
    Other     1,693       1,392  
    Total noninterest expenses     35,105       32,507  
             
    Income before income taxes     9,923       10,279  
             
    Income tax expense     1,979       1,575  
             
    Net Income   $ 7,944     $ 8,704  
             
    Weighted average shares outstanding – basic and diluted     4,543,338       4,562,374  
             
    Net income per common share – basic and diluted   $ 1.75     $ 1.91  
     
     

    Bank of the James Financial Group, Inc. and Subsidiaries
    Dollar amounts in thousands, except per share data
    unaudited

    Selected Data: Three
    months
    ending
    Dec 31,
    2024    		 Three
    months
    ending
    Dec 31,
    2023    		 Change Year
    to
    date
    Dec 31,
    2024    		 Year
    to
    date
    Dec 31,
    2023    		 Change
    Interest income $     11,636   $    10,538     10.42 % $     44,643   $     39,362     13.42 %
    Interest expense   3,950     3,149     25.44 %   15,407     9,622     60.12 %
    Net interest income   7,686     7,389     4.02 %   29,236     29,740     -1.69 %
    Provision for (recovery of) credit losses   (71 )   99     -171.72 %   (655 )   (179 )   265.92 %
    Noninterest income   3,816     3,178     20.08 %   15,137     12,867     17.64 %
    Noninterest expense   9,503     8,416     12.92 %   35,105     32,507     7.99 %
    Income taxes   452     (56 )   -907.14 %   1,979     1,575     25.65 %
    Net income   1,618     2,108     -23.24 %   7,944     8,704     -8.73 %
    Weighted average shares outstanding – basic and diluted   4,543,338     4,543,338     –     4,543,338     4,562,374     (19,036 )
    Basic and diluted net income per share $        0.36   $         0.45   $     (0.09 ) $         1.75   $      1.91   $     (0.16 )
    Balance Sheet at
    period end:    		 Dec 31,
    2024    		 Dec 31,
    2023    		 Change Dec 31,
    2023    		 Dec 31,
    2022    		 Change
    Loans, net $    636,552 $ 601,921   5.75 % $    601,921 $    605,366   -0.57 %
    Loans held for sale   3,616   1,258   187.44 %   1,258   2,423   -48.08 %
    Total securities   191,522   220,132   -13.00 %   220,132   189,426   16.21 %
    Total deposits   882,404   878,459   0.45 %   878,459   848,138   3.58 %
    Stockholders’ equity   64,865   60,039   8.04 %   60,039   50,226   19.54 %
    Total assets   979,244   969,371   1.02 %   969,371   928,571   4.39 %
    Shares outstanding   4,543,338   4,543,338   –     4,543,338   4,628,657   (85,319 )
    Book value per share $       14.28 $       13.21 $         1.07   $        13.21 $        10.85 $      2.36  
    Daily averages: Three
    months
    ending
    Dec 31,
    2024    		 Three
    months
    ending
    Dec 31,
    2023    		 Change Year
    to
    date
    Dec 31,
    2024    		 Year
    to
    date
    Dec 31,
    2023    		 Change
    Loans $ 642,197   $ 609,800   5.31 % $ 623,769   $ 616,047   1.25 %
    Loans held for sale   3,612     3,406   6.05 %   3,494     3,512   -0.51 %
    Total securities (book value)   218,680     236,267   -7.44 %   232,992     226,637   2.80 %
    Total deposits   920,655     882,277   4.35 %   901,449     867,269   3.94 %
    Stockholders’ equity   68,563     50,097   36.86 %   62,575     50,977   22.75 %
    Interest earning assets   963,217     921,665   4.51 %   939,900     903,491   4.03 %
    Interest bearing liabilities   801,812     753,144   6.46 %   783,003     738,335   6.05 %
    Total assets   1,021,547     963,511   6.02 %   995,738     950,276   4.78 %
                 
    Financial Ratios: Three
    months
    ending
    Dec 31,
    2024    		 Three
    months
    ending
    Dec 31,
    2023    		 Change Year
    to
    date
    Dec 31,
    2024    		 Year
    to
    date
    Dec 31,
    2023    		 Change
    Return on average assets   0.63 %   0.87 % (0.24 )   0.80 %   0.92 % (0.12 )
    Return on average equity   9.39 %   16.69 % (7.30 )   12.70 %   17.07 % (4.37 )
    Net interest margin   3.18 %   3.18 % –     3.11 %   3.29 % (0.18 )
    Efficiency ratio   82.62 %   79.64 % 2.98     79.11 %   76.29 % 2.82  
    Average equity to average assets   6.71 %   5.20 % 1.51     6.28 %   5.36 % 0.92  
    Allowance for credit losses: Three
    months
    ending
    Dec 31,
    2024    		 Three
    months
    ending
    Dec 31,
    2023    		 Change Year
    to
    date
    Dec 31,
    2024    		 Year
    to
    date
    Dec 31,
    2023    		 Change
    Beginning balance $ 7,078   $ 7,320   -3.31 % $ 7,412   $ 6,259   18.42 %
    Retained earnings adjustment related to impact of adoption of ASU 2016-13   –     –   N/A     –     1,245   -100.00 %
    Provision for (recovery of) credit losses*   (39 )   123   -131.71 %   (533 )   (65 ) 720.00 %
    Charge-offs   –     (40 ) -100.00 %   (84 )   (236 ) -64.41 %
    Recoveries   5     9   -44.44 %   249     209   19.14 %
    Ending balance   7,044     7,412   -4.96 %   7,044     7,412   -4.96 %
                 
    * does not include provision for or recovery of unfunded loan commitment liability    
    Nonperforming assets: Dec 31,
    2024    		 Dec 31,
    2023    		 Change Dec 31,
    2023    		 Dec 31,
    2022    		 Change
    Total nonperforming loans $ 1,640 $ 391 319.44 % $ 391 $ 633 -38.23 %
    Other real estate owned   –   – N/A     –   566 -100.00 %
    Total nonperforming assets   1,640   391 319.44 %   391   1,199 -67.39 %
    Asset quality ratios: Dec 31,
    2024    		 Dec 31,
    2023    		 Change Dec 31,
    2023    		 Dec 31,
    2022    		 Change
    Nonperforming loans to total loans 0.25 % 0.06 % 0.19   0.06 % 0.10 % (0.04 )
    Allowance for credit losses for loans to total loans 1.09 % 1.22 % (0.12 ) 1.22 % 1.02 % 0.19  
    Allowance for credit losses for loans to nonperforming loans 429.51 % 1895.65 % (1,466.14 ) 1895.65 % 988.78 % 906.87  

    The MIL Network –

  • MIL-OSI: Superior Energy Services Announces Appointment of Kyle O’Neill as Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Jan. 31, 2025 (GLOBE NEWSWIRE) — Superior Energy Services, Inc. (the “Company”) today announced that Kyle O’Neill was appointed chief financial officer effective February 3, 2025. Mr. O’Neill has over 20 years of experience in Industrials, Oilfield Services, and Asset Management industries. He has held various leadership positions in the industry, most recently as President and CFO at Industrial Service Solutions (ISS), a private equity-sponsored platform with over 50 locations across the United States. Before ISS, O’Neill was the President, CEO, and Director at U.S. Well Services, Inc., a publicly traded oilfield services company providing hydraulic pressure pumping services.

    Chairman and CEO Dave Lesar stated, “Kyle is a respected strategic financial and operational executive with extensive experience in strategic leadership, mergers and acquisitions, and operational efficiency. Kyle has a proven track record of driving growth and innovation as a results-oriented leader, and I look forward to his contributions toward a bright future for Superior.”

    About Superior Energy Services
    Superior Energy Services serves the drilling, completion and production-related needs of oil and gas companies through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. In addition to operations in North America, both on land and offshore, Superior Energy Services operates in approximately 47 countries internationally. For more information, visit: www.superiorenergy.com.

    Forward-Looking Statements
    This press release contains, and future oral or written statements or press releases by the Company and its management may contain, certain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Generally, the words “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks”, “will” and “estimates,” variations of such words and similar expressions identify forward-looking statements, although not all forward-looking statements contain these identifying words. All statements other than statements of historical fact regarding the Company’s financial position and results, financial performance, liquidity, strategic alternatives (including dispositions, acquisitions, and the timing thereof), market outlook, future capital needs, capital allocation plans, business strategies and other plans and objectives of our management for future operations and activities are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company’s management in light of its experience and prevailing circumstances on the date such statements are made. Such forward-looking statements, and the assumptions on which they are based, are inherently speculative and are subject to a number of risks and uncertainties, including but not limited to conditions in the oil and gas industry, U.S. and global market and economic conditions generally and macroeconomic conditions worldwide, (including inflation, interest rates, supply chain disruptions and capital and credit markets conditions) that could cause the Company’s actual results to differ materially from such statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements.

    While the Company believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business.

    These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in the Company’s Form 10-K for the year ended December 31, 2023 and Form 10-Q for the quarter ended September 30, 2024 and those set forth from time to time in the Company’s other periodic filings with the Securities and Exchange Commission, which are available at www.superiorenergy.com. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

    FOR FURTHER INFORMATION CONTACT:
    Joanna Clark, Corporate Secretary
    1001 Louisiana St., Suite 2900
    Houston, TX 77002
    Investor Relations, ir@superiorenergy.com, (713) 654-2200

    The MIL Network –

  • MIL-OSI: Shareholders’ Nomination Committee proposal on the composition and remuneration of the Board of Directors of Oma Saving Bank Plc

    Source: GlobeNewswire (MIL-OSI)

    OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 31 JANUARY 2025 AT 19.00 P.M. EET, OTHER INFORMATION DISCLOSED TO THE RULES OF THE EXCHANGE

    Shareholders’ Nomination Committee proposal on the composition and remuneration of the Board of Directors of Oma Saving Bank Plc

    The Shareholders’ Nomination Committee proposes the following to the Annual General Meeting of Oma Savings Bank Plc (OmaSp or the Company) on 8 April 2025:

    The number of members of the Board of Directors is proposed to be confirmed at seven.

    The Shareholders’ Nomination Committee proposes that the current Board members Juhana Brotherus, Irma Gillberg-Hjelt, Aki Jaskari, Jaakko Ossa, Carl Pettersson, Kati Riikonen and Juha Volotinen.

    All candidates are proposed to be elected for the period starting at the Annual General Meeting 2025 and ending at the Annual General Meeting 2026. All nominees have given their consent to the election. At the time of election, all proposed nominees are independent in their relationship with the company and its significant shareholders.

    Details of the Board members nominated for election:

    JUHANA BROTHERUS
    Juhana Brotherus (born 1986) has been a member of OmaSp’s Board of Directors since December 2024. Brotherus has been the Director and Chief Economist of the Federation of Finnish Enterprises since 2023. In addition, Brotherus worked as Chief Economist and Director of the Mortgage Society of Finland in 2014–2023 and as the Economist of Danske Bank in 2011–2014. Brotherus has served as the Vice Chairman of the Board of HOAS since 2018, as a member of the Investment Committee of the Finnish Business School Graduates since 2016, as a member of the Board of the Foundation for Economic Students in Helsinki in 2015–2020, and as a member of the Board of aTalent Recruitingin in 2012–2018, of which as the Chairman of the Board in 2014–2018. Brotherus holds a Master of Economic Sciences.

    IRMA GILLBERG-HJELT
    Irma Gillberg-Hjelt (born 1962) has been a member of OmaSp’s Board of Directors since December 2024. Gillberg-Hjelt has has been the Executive Vice President and Head of Corporate Banking of Aktia Bank Plc in 2017–2020, employed by Danske Bank and its predecessors from 1987 to 2017 holding managerial positions in the corporate customer business in 2010–2017, as Bank Director in 2007–2012, as financial director in 2003–2007, and in customer-responsible positions in 1987–2003. In addition, Gillberg-Hjelt has been a member of the Board of Directors of Saldo Bank UAB in 2023–2024. Gillberg-Hjelt holds a Master of Laws.

    AKI JASKARI
    Aki Jaskari (born 1961) has been a member of OmaSp’s Board of Directors since 2014. Jaskari has served as the CEO of Nerkoon Höyläämö Oy since 1995. In addition, Jaskari has been a member of the Advisory Board of Leppäkosken Sähkö Group Oy since 2001, a member of the Regional Advisory Committee of Pohjola Insurance Oy in 2001–2015 and as a member of the Board of the Parkano Savings Bank in 2010–2013. Jaskari holds a master’s degree in economics.

    JAAKKO OSSA
    Jaakko Ossa (born 1965) has been the Chairman of the Board of OmaSp since May 2024 and a member of the Board since 2023. Ossa has been a professor of financial law at the University of Turku since 1998. Ossa has an extensive written production, particularly in the field of corporate taxation and investment taxation. Along with his academic career, Ossa has held expert positions at Asianajotoimisto Astrea Oy for around 20 years and currently at Ossa Partners Oy, a family company. Ossa has been as a member of the Board of several companies, including Liedon Savings Bank, Sp-Fund Management Company and the Savings Bank Association. In addition, he is currently the Chairman of the delegation of Taxpayers Association of Finland (TAF) and the inspector of the Satakuntalais-Hämäläinen Student Nation (osakunta) of the University of Turku. Ossa holds a Doctor of Laws.

    CARL PETTERSSON
    Carl Pettersson (born 1979) has been the Vice Chairman and a member of OmaSp’s Board of Directors since January 2025. Pettersson has been the Managing Director of Elo Pension Company since 2021. In addition, Pettersson has been the Managing Director of Veritas Pension Insurance Company in 2017–2021, Deputy Managing Director of Aktia Bank Plc in 2016–2017 and prior to that in several management positions of Aktia Bank Plc in 2008–2016 and as Director of OP Raasepori’s branch office in 2006-2008. Pettersson holds a Bachelor of Business Administration and an eMBA.

    KATI RIIKONEN
    Kati Riikonen (born 1971) has been a member of OmaSp’s Board of Directors since December 2024. Riikonen has been the VP, Head of Online, Marketing and Analytics of Telia Finland Plc in 2020–2024, Head of Industry of Google Finland in 2017–2020, Managing Director of Isobar Finland Oy in 2015–2017, Chief Digital Officer of DNA Oy in 2013-2015 and Marketing Director of DNA Oy in 2011–2013, an entrepreneur of KRi Marketing and Training in 2006–2009, Marketing Director of Motorola Inc. USA in 2003–2006 and as various expert and team leader positions at Nokia Plc in 1996–2003. In addition, Riikonen has been a member of the Board of Directors of Kamux Plc since 2024, a member of the Board of Directors of Verkkokauppa.com Plc since 2023, a member of the Board of Directors of Nooa Savings Bank in 2021–2024, a member of the Board of Directors of Kotipizza Group in 2021–2022, a member of the Board of Directors of City Digital Oy in 2016–2018, and a member of the Board of Frantic Media Oy in 2012–2014. Riikonen holds a Master of Business Administration.

    JUHA VOLOTINEN
    Juha Volotinen (born 1975) has been a member of OmaSp’s Board of Directors since December 2024. Volotinen has been the CIO of the Municipality Finance Plc since 2021. In addition, Volotinen worked as CIO of Aktia Bank Plc in 2017–2021 and before that in several managerial positions in Aktia Bank Plc in 2010–2017, in SEB Ab in several managerial positions in 2003–2010, and as IT Manager of Danske Securities in 2002–2003. Volotinen has served as a member of the Board of Directors of Aktia Finance in 2017–2020. Volotinen holds a Master of Economic Sciences.

    Shareholders’ Nomination Committee proposal on the remuneration of the Board of Directors of OmaSp:
                                                                                      
    The Shareholders’ Nomination Committee proposes that the members of the Board of Directors be paid annual remuneration as follows:

    • Chairperson of the Board EUR 85,000
    • Vice Chairperson of the Board EUR 60,000
    • Other members of the Board EUR 40,000

    In addition, the Chairperson of the Board Committees are paid a separate annual fee as follows:

    • Chairperson of the Remuneration Committee EUR 6,000
    • Chairperson of the Risk Committee EUR 9,000
    • Chairperson of the Audit Committee EUR 9,000

    The Shareholders’ Nomination Committee proposes that meeting fees be paid as follows:

    • Board meeting EUR 1,000
    • Committee meeting EUR 1,000
    • Email meeting of the Board or Committee EUR 500

    The Shareholders’ Nomination Board proposes that 25 percent of the annual remuneration of the Board of Directors be paid from the market in Oma Savings Bank Plc’s shares acquired on behalf of the members of the Board of Directors. The shares will be acquired directly on behalf of the members of the Board of Directors at a price formed on the market in public trading when the interim report for the period from 1 January to 31 March 2025 has been published. The Company is responsible for the costs of acquiring the shares and any transfer tax. The rest of the annual fee is paid in cash to cover the taxes arising from the fee.

    In addition, Oma Savings Bank Plc pays or reimburses travel expenses and other expenses related to board work to the members of the Board of Directors.

    The proposals of the Nomination Committee shall be included in the notice of the Annual General Meeting.

    Raimo Härmä (nominated by the South-Karelian Savings Bank Foundation) is the Chairman of the Shareholders’ Nomination Committee of OmaSp, members are Ari Lamminmäki (nominated by the Parkano Savings Bank Foundation), Jouni Niuro (nominated by the Liedon Savings Bank Foundation), Aino Lamminmäki (nominated by the Töysän Savings Bank Foundation), Simo Haarajärvi (nominated by the Kuortane Savings Bank Foundation), and as a specialist acts Jaakko Ossa, the Chairman of the Board of OmaSp.

    Additional information:
    Raimo Härmä, Chairman of the Nomination Committee, tel. +358 44 363 7063
    Minna Sillanpää, CCO, tel. +358 50 66592, minna.sillanpaa@omasp.fi

    DISTRIBUTION
    Nasdaq Helsinki Ltd
    Major media
    www.omasp.fi

    OmaSp is a solvent and profitable Finnish bank. About 500 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

    OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

    The MIL Network –

  • MIL-OSI: Compagnie de Financement Foncier : Press Release – Results of Compagnie de Financement Foncier in 2024

    Source: GlobeNewswire (MIL-OSI)

    Press release for full and effective distribution

    Paris, January 31, 2025

    Compagnie de Financement Foncier’s financial results in 2024

    On January 31, 2025, Compagnie de Financement Foncier’s Board of Directors, chaired by Éric FILLIAT, met to approve the annual financial statements for 2024.

    ***

    1. COMPAGNIE DE FINANCEMENT FONCIER’S BUSINESS ACTIVITY

    In 2024, despite an unstable geopolitical context and a volatile financial environment, Compagnie de Financement Foncier, in synergy with Groupe BPCE, achieved remarkable commercial and financial performances.

    • Issuance of covered bonds

    A key player in Groupe BPCE’s refinancing strategy, Compagnie de Financement Foncier is a benchmark issuer thanks to its ability to seize the best market opportunities and offer investors solutions that meet their expectations. This agility allows it to provide Groupe BPCE institutions with highly competitive refinancing for their lending businesses.

    In 2024, Compagnie de Financement Foncier issued €5.8bn in covered bonds, €1.3bn more than in 2023.

    • In April 2024, Compagnie de Financement Foncier tapped the primary market for a €2bn dual-tranche issuance. These tranches, of €1.25bn and €750m, were issued with maturities of three and eight years respectively. The high level of oversubscription on this transaction, despite market instability, testifies to its success.
    • In May 2024, an issuance of €1.5bn was carried out with a maturity of six years. The wide range of investors in this transaction confirms the diversity of Compagnie de Financement Foncier’s investor base.
    • In September 2024, Compagnie de Financement Foncier took advantage of a favorable issuance window with a benchmark of €1bn over eight and a half years.
    • In October 2024, as part of Groupe BPCE’s Sustainable Development Funding Program, Compagnie de Financement Foncier carried out its second social issuance (€500m over five years). This transaction strengthens Compagnie de Financement Foncier’s presence in this specialized market and aligns with Groupe BPCE’s objectives to integrate ESG criteria into its refinancing activities.

    In 2024, Compagnie de Financement Foncier’s currency diversification strategy continued with two issuances, one in CHF and the other in USD, with respective counter values of €161m and €139m at the transaction date.

    • Refinancing of Groupe BPCE receivables

    In line with its strategic guidelines, Compagnie de Financement Foncier refinanced a total of €6.3bn in receivables contributed by Groupe BPCE institutions, €1.5bn more than in 2023. Noteworthy among this year’s transactions were the refinancing of state-guaranteed loans (PGE) for Groupe BPCE institutions (€1.4bn) and, for the first time, the refinancing of outstanding export credits (€31.5m).

    These performances, in ever-competitive markets, reflect the commitment and efficiency of all the teams involved. They also confirm the success of the system put in place and the relevance of the diversification strategy developed with Groupe BPCE, which enables Compagnie de Financement Foncier to finance the Group’s various business lines under very competitive conditions.

    II. COMPAGNIE DE FINANCEMENT FONCIER’S INCOME STATEMENT

    In millions of euros (1) 2024 2023
    Net interest margin 165 219
    Net commissions 9 13
    Other banking expenses (net) -2 -2
    Net banking income 172 230
    General operating expenses -56 -68
    Gross operating income 116 162
    Cost of risk 2 3
    Gains or losses on long‑term investments 0 0
    Income before tax 118 165
    Income tax -32 -46
    Net income 86 119

    Net banking income amounted to €172m, down by €58m compared with 2023.

    General operating expenses came to €56m, down on the previous year due to the disappearance of the contribution to the SRF; restated for this item, operating expenses are relatively stable compared with 2023.

    Gross operating income reached €116m.

    The cost of risk in 2024 shows a net reversal of €2m, reflecting the quality of the assets carried on Compagnie de Financement Foncier’s balance sheet.

    Net income was €86m at December 31, 2024, compared with €119m at December 31, 2023.

    III. BALANCE SHEET INFORMATION

    Compagnie de Financement Foncier’s balance sheet total was €61.0bn at the end of 2024, compared with €60.3bn at the end of 2023.

    The assets refinanced by Compagnie de Financement Foncier for the Group’s institutions in 2024 mainly come from the public sector, increasing their proportion on Compagnie de Financement Foncier’s balance sheet.

    At the end of 2024, outstanding covered bonds stood at €51.5bn, including related debts, close to the situation at December 31, 2023 (€51.7bn).

    IV. PRUDENTIAL INFORMATION

    Although exempt from regulatory requirements in terms of solvency ratios, Compagnie de Financement Foncier calculates, for information purposes, a Common Equity Tier One (CET 1) ratio at its limits. At December 31, 2024, this ratio stood at 38,6 %, well above the minimum threshold set out in Regulation 575/2013 (CRR).

    In accordance with the legislation applicable to Sociétés de Crédit Foncier, Compagnie de Financement Foncier maintains a coverage ratio for its privileged liabilities of more than 105%.

    Appendices

    ***

    Unless otherwise stated, the financial data in this press release are currently estimated and taken from the financial statements of Compagnie de Financement Foncier. These include the individual financial statements and related explanatory notes, prepared in accordance with French accounting standards and applicable Groupe BPCE standards.

    As of the date of publication of this press release, the audit procedures carried out by the Statutory Auditors on the annual financial statements are in progress.

    Compagnie de Financement Foncier is a credit institution approved as a specialized credit institution and a Société de Crédit Foncier. It is affiliated with BPCE and a 100% subsidiary of Crédit Foncier and Groupe BPCE.

    Regulated information is available on the website https://foncier.fr/ in the “Financial communication/Regulated information” section.

    Contact: Investor Relations

    Email: ir@foncier.fr
    Tel.: +33 (0) 1 58 73 55 10

                     

    (1)Some rounded amounts given in millions of euros in this press release may differ from those in euros.

    Attachment

    The MIL Network –

  • MIL-OSI Russia: Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    Translartion. Region: Russians Fedetion –

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

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    January 31, 2025

    Previous news Next news

    Dmitry Chernyshenko met in Anapa with volunteers involved in the liquidation of the consequences of the emergency on the coast

    Deputy Prime Minister Dmitry Chernyshenko spoke with representatives of the united volunteer headquarters on the shore of Anapa

    The meeting was also attended by the head of the Federal Agency for Youth Affairs (Rosmolodezh) Grigory Gurov and the governor of Krasnodar Krai Veniamin Kondratyev.

    Volunteer headquarters

    Co-chairman of the Ecosystem movement Andrey Rudnev proposed that the Russian Government regulate the work of volunteers and issue a Government order specifying mandatory registration on the platform “Dobro.RF” and through regional headquarters

    The Deputy Prime Minister supported the proposal to distribute recommendations on safety measures for volunteer work and expressed gratitude to all volunteers for their dedicated work, involvement and concern.

    “Volunteering is difficult, sometimes dangerous work. Volunteers are provided with social guarantees, compensation payments and measures to ensure their safety. It is extremely important that all volunteers who want to help eliminate the consequences register on the platform “Dobro.RF”. This will help to organize the work and, above all, ensure your safety,” Dmitry Chernyshenko emphasized.

    The Deputy Prime Minister noted the importance of unity across the country in combating environmental threats and added that the cohesion of government organizations, public institutions and citizens plays a key role in overcoming current challenges. Dmitry Chernyshenko expressed gratitude to the leadership of Krasnodar Krai and Rosmolodezh for their coordinated work.

    Rosmolodezh head Grigory Gurov reported that most volunteers come centrally and join the headquarters “Dobro.RF”. “By starting independent work to clean up oil products, people risk their health and violate safety requirements. Therefore, we urge everyone who has decided to go to help eliminate oil pollution to follow the instructions and guidelines. Join the work of the headquarters

    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 Canada: Millions of Fentanyl Doses Seized in Saskatchewan Traffic Stop

    Source: Government of Canada regional news

    Released on January 31, 2025

    Saskatchewan continues to see significant results from the strong partnerships that exist between the RCMP and the Ministry of Corrections, Policing and Public Safety’s Provincial Protective Services (PPS). Together, the RCMP’s specialized policing teams and the PPS’s Conservation Officer Service and Saskatchewan Highway Patrol (SHP) officers are targeting illicit drugs, weapons and human trafficking cases near the border and across the province.  

    During a proactive patrol on January 28, 2025, the RCMP and Saskatchewan Highway Patrol officers conducted a traffic stop in the Swift Current area. During a vehicle search, officers located eight kilograms of fentanyl hidden under a spare tire. As a result of the investigation, two occupants in the vehicle were charged with trafficking and possession for the purpose of trafficking.

    “Thank you to the Saskatchewan RCMP, Saskatchewan Highway Patrol, conservation officers and all of our policing partners for their service to the people of Saskatchewan,” Premier Scott Moe said. “This seizure of fentanyl is another significant outcome we are seeing from our investments in the Saskatchewan RCMP and the Provincial Protective Services as they tackle crime and prevent harmful drugs from reaching our communities.” 

    “By removing illicit drugs and illegal weapons from our streets, our policing partners at the Saskatchewan RCMP and the Provincial Protective Services are helping to keep Saskatchewan communities safe,” Corrections, Policing and Public Safety Minister Tim McLeod said. “Our partnership with the RCMP plays an important role in addressing critical issues, whether it is supporting border security or combating organized crime, we work together to ensure community safety.”

    On January 9, 2025, RCMP’s Roving Traffic Unit and Saskatchewan Highway Patrol officers were doing proactive patrols and conducted a traffic stop. As a result of an investigation, officers located and seized approximately 1,551 lbs of illicit cannabis and a sum of cash from inside a large cargo van. An adult male was arrested and charged with trafficking and possession for the purpose of trafficking.

    “RCMP officers and employees across Saskatchewan remain dedicated to the safety and security of the people and communities we serve, despite an increase in complex crimes paired with resourcing challenges we face,” Saskatchewan RCMP Assistant Commissioner Commanding Officer Rhonda Blackmore said. “Look at this month alone, investigators removed significant quantities of drugs from our streets. We have collaborated with partner agencies on multiple serious investigations. I am exceptionally proud to lead such a fantastic team.”

    Since January 6, 2025, PPS officers and the RCMP have also conducted high-visibility patrols near the SK-US border, including this week’s collaborative enforcement effort north of the Regway border crossing. These enforcement efforts ensured a strong presence near our border focused on commercial vehicle safety, traffic safety and compliance as part of the Saskatchewan Border Security Plan. In addition to the concerted work of RCMP, PPS officers have dedicated 750 hours to patrolling southern border routes, smaller communities and remote areas, with more than 270 vehicles being inspected, one firearm seized and over 80 provincial tickets issued. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Video: Presidential Lecture: Paraguay’s Santiago Peña

    Source: World Trade Organization – WTO (video statements)

    The President of Paraguay, Santiago Peña Palacios, stressed the critical role of the WTO in promoting peace and prosperity through free trade during his delivery on 31 January of the latest edition of the WTO Presidential Lecture. President Peña emphasized that, amid the current global challenges faced by the multilateral trading system, middle powers like Paraguay have a unique responsibility to act as bridge-builders and to foster dialogue and consensus. This will contribute to a more stable and cooperative international order, he said.

    What the lecture: https://youtube.com/live/jzTIuAaewY4?feature=share

    Download this video from the WTO website:
    https://www.wto.org/english/res_e/webcas_e/webcas_e.htm

    https://www.youtube.com/watch?v=3JJg1kuUE4A

    MIL OSI Video –

  • MIL-OSI USA: Senator Coons decries President Trump’s freeze on almost all foreign assistance in speech on Senate floor

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons

    WASHINGTON – U.S. Senator Chris Coons (D-Del.), a member of the Senate Appropriations and Foreign Relations Committees, condemned President Donald Trump’s executive order (EO) to pause almost all U.S. foreign assistance in a speech on the Senate floor yesterday, calling it unconstitutional and harmful to U.S. security and values.

    Last week, following the Trump EO, the State Department issued a “stop-work” order that halted all current foreign assistance and paused new projects, with narrow exceptions. This abrupt action created widespread confusion, further complicated by the White House budget office’s decision to send and then rescind a separate memo that had ordered a freeze on all federal grant spending. The actions have left essential aid programs and global partnerships in a state of uncertainty, weakening the United States’ standing around the world.

    In his remarks, Senator Coons emphasized that foreign assistance is not charity, but an investment that strengthens our security and economy. The Trump EO by contrast, harms our allies and friends, and benefits adversaries like China. It has halted payments to contractors rebuilding Ukraine’s electrical infrastructure in the wake of Russian attacks and frozen support that is critical to ensuring Taiwan’s defense. This pause has halted vital pandemic surveillance work that keeps us safe from lethal diseases and rapidly emerging pandemics, at a time when we are seeing new outbreaks of highly transmissible diseases like Ebola in Uganda and Marburg in Tanzania. The pause has impacted critical global health funding, including PEPFAR, which provides HIV treatment for more than 20 million people living with HIV globally. U.S. institutions that monitor global elections like the National Democratic Institute and International Republic Institute are also frozen in the run-up to elections in nations like Moldova and Romania that are expected to be targets of Russian interference. This reckless step harms U.S. credibility and economic stability and creates long-term consequences that weaken our allies and empower our adversaries.

    Senator Coons also underscored that while foreign assistance accounts for less than 1 percent of the federal budget, its strategic significance is crucial.

    A video and partial transcript of Senator Coons’ comments are available below.

    WATCH HERE.

    Senator Coons: Mr. President, I’m speaking today in strong opposition to President Trump’s illegal executive order of last Friday night that pauses all of our foreign assistance and development assistance. Let’s be clear: our development assistance, our foreign aid, isn’t about charity. It’s about security, and it’s about values. We have alliances and partnerships around the world that are undergirded by our soft power – by our partnerships and investment in helping make our world safer, more stable, and more secure. What happened last Friday night, at the end of the workday and there was no one there to answer urgent questions – was a freeze on all foreign assistance, with a very narrow exception for food aid, and it has caused chaos in the global community that delivers aid and assistance around the world. 

    For days, there were questions unanswered. What did this mean in Ukraine, in Lebanon, where there are wars and ceasefires, where critical grant funding and work by contractors helps put the lights back on after Russian attacks on the electrical infrastructure in Ukraine, where ceasefire implementation in Lebanon was ongoing. In parts of the world where we were continuing to bring home to the United States those who served alongside us in Afghanistan, Afghan SIVs waiting for processing, abandoned in Qatar and here in the United States. 

    A halt on drug supplies that helped keep 20 million people living with HIV through the program PEPFAR, long supported by presidents and Congresses of both parties. A freeze on activity to counter fentanyl and narcotics trafficking, to push back on Chinese and Russian disinformation, and to promote democracy. With urgent upcoming elections, the International Republican Institute and the National Democratic Institute are frozen in their activities and forced to lay off or furlough their workforce. Let me thank Secretary Rubio for responding to urgent calls to broaden the aperture for humanitarian waivers for this freeze, but let me also say that with dozens and dozens of the most senior people at USAID put on furlough, implementing this got harder, and with thousands of contractors who work for USAID in countries around the world dismissed or laid off, the consequences will be severe. 

    I’ll just give you one example. I suspect everyone listening has heard of the disease Ebola. I suspect not everyone has heard of the disease Marburg. They are related. They’re highly transmissive and deadly viruses. There is a new outbreak of Ebola in the capital of Uganda. There’s an ongoing outbreak of Marburg in the neighboring country of Tanzania. This freeze pauses the pandemic surveillance work, the urgent public health work, the assistance we provide that makes sure that we are safe from a rapidly emerging and lethal global pandemic that we put in place after the last pandemic. 

    When we halt foreign assistance, it has consequences. It’s just one percent of our total budget. Most Americans think it’s a big percent of our spending, but it’s one percent, actually, less than one percent of the total federal budget. And there’s a winner here, and it’s not the American taxpayer. Freezing programs like this causes chaos and often costs more to restart them after a review. The winner is China. Our biggest global competitor and adversary is delighted that we’ve handed them an opportunity to say to communities and countries around the world that we are not a reliable partner – that despite contracts and promises, commitments, and programs, they now have months to crow about how we have abandoned our partnerships with county after country around the world. China is delighted when we layoff, or furlough, or cut the resources that help fuel the work of our diplomats and our development professionals. And China has seen its opportunity to expand its influence through programs like the Belt and Road Initiative. They’ve spent a trillion dollars on projects across the Global South in the last decade, and our ability to counter Chinese influence, to make strategic investments, has been put gravely at risk by putting on hold the workforce and the contracts that help deliver them. 

    The administration may be claiming that this pause is temporary, but its effects will not be. The lasting impacts on small businesses, on contractors, on NGOs and loss of expertise, loss of their workforce, loss of their credibility I think will be lasting, dangerous, and harmful.

    MIL OSI USA News –

  • MIL-OSI USA: Luján Named Ranking Member of Agriculture Subcommittee on Nutrition and Specialty Crops

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)

    Subcommittee Oversees Key New Mexico Priorities Including Food Assistance Programs, Specialty Crop Produces, and Healthy Food Initiatives

    Washington, D.C. – This week, U.S. Senator Ben Ray Luján (D-N.M.) was named Ranking Member of the Senate Committee on Agriculture, Nutrition and Forestry’s Subcommittee on Food and Nutrition, Specialty Crops, Organics, and Research for the 119th Congress. Senator Luján will serve alongside Subcommittee Chairman U.S. Senator Mitch McConnell (R-Ky.).

    “Across New Mexico and the nation, federal nutrition assistance programs help feed our families and children, while our specialty crop growers put high-quality, nutritious produce for our tables,” said Senator Luján. “I am honored to have been selected to lead the Subcommittee on Food and Nutrition, Specialty Crops, Organics and Research, where I will work to boost programs to help families afford healthy food, secure resources for our specialty crop and organic producers, and ensure strong investment and support for our agricultural research institutions. I look forward to working in a bipartisan manner to secure New Mexico priorities on this key subcommittee.”

    “As Ranking Member, I will work to support and provide resources for our specialty crop growers in New Mexico who feed our nation and the world and support our trademark crops from pecans to chile. No one should face the threat of hunger, and I will work tirelessly to make certain that families are able to put high-quality, nutritious food on the table, no matter where you live. New Mexico also boasts a wealth of agriculture research institutions, ranging from New Mexico State University to our climate hub and agriculture research stations,” continued Senator Luján. “Supporting strong research investment will be a priority for me on this subcommittee as we look to ensure that our agriculture community has the tools they need to face challenges ranging from pests to climate change and be competitive at the global level.”

    Background on Senator Luján’s work on supporting food assistance programs and specialty crop growers:

    Senator Luján has long fought to protect and improve federal nutrition assistance programs, leading legislation to protect local grocers from transaction fees that would make it harder for them to accept SNAP benefits, introducing legislation that would support merit staff and protect the integrity and efficiency of SNAP, and fighting to protect access to SNAP benefits in the Farm Bill. Through Senator Luján’s work on the Committee on Agriculture, Nutrition and Forestry, he has fought to secure provisions in the Farm Bill that would invest in agriculture research and boost resources for New Mexico’s specialty crop and organic producers.

    Background on the Subcommittee on Food and Nutrition, Specialty Crops, Organics, and Research:

    The Subcommittee on Food and Nutrition, Specialty Crops, Organics, and Research oversees programs regarding food and nutrition assistance, school meals, non-program crops, organic production, and research. The subcommittee oversees agencies within the Food, Nutrition, and Consumer Services; Research, Education and Economics; and Marketing and Regulatory Programs mission areas at USDA. In addition to agencies, this subcommittee oversees the Foundation for Food and Agricultural Research.

    MIL OSI USA News –

  • MIL-OSI USA: Air Force Wargaming Institute hosts tabletop exercise for the Department Level Exercise series 2025

    Source: United States Air Force

    Headline: Air Force Wargaming Institute hosts tabletop exercise for the Department Level Exercise series 2025

    The Department Level Exercise series, part of the DAF’s Reoptimization for GPC, is the integration of several disparate major command exercises, intended to synchronize and evolve operations to deter competitor aggression where able, and to defeat threats to national security when necessary.

    MIL OSI USA News –