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Category: KB

  • MIL-OSI United Kingdom: Celebratory event to mark success of Clean Heat Streets project in Rose Hill

    Source: City of Oxford

    Oxford residents are invited to join a celebration marking the successful completion of the Clean Heat Streets project in Rose Hill. 

    The innovative Clean Heat Streets project aimed to support Rose Hill and Iffley households in transitioning from polluting gas boilers to energy-saving, sustainable heat pumps.  

    Unlike traditional boilers that burn gas to produce heat, heat pumps use electricity to extract heat from the air outside, providing an efficient and sustainable alternative. 

    With buildings accounting for around 60% of Oxford’s carbon emissions—25% of which come from homes—retrofitting measures like heat pumps are key for reducing emissions. 

    Key Outcomes 

    Over two years, the Clean Heat Streets project installed 31 heat pumps in Rose Hill homes, saving an estimated 43,400kg of carbon dioxide per year. The project also tested the feasibility of installing multiple heat pumps in the same neighborhood without overloading the local electricity network. 

    Residents were offered discounted heat pumps and personalised support throughout the installation process, making the switch easier and more affordable. 

    Insights and lessons from the Clean Heat Streets project will be used by the Council to inform its future approach to retrofit across the city. 

    About the event 

    The event, which will take place at Rose Hill Community Centre on Friday 31 January, will celebrate the achievements of the project, as well as a chance to discuss the lessons learned and the next steps. There will be talks, discussion, an opportunity to visit a heat pump at a Clean Heat Street installee’s home, as well as stalls, food and fun and games.  

    The event will consist of two sessions:  

    First Session (2:15 pm – 4:10pm) This session will welcome Oxford residents, heat pump professionals, academics, and representatives from the Department for Energy Security and Net Zero together with representatives from Oxford City Council and Oxfordshire County council. It will include talks from the project team about the project and key learnings, followed by a Q&A session.  

    Home tours (4:15 pm – 5:00 pm) Participants will have the opportunity to visit homes in Rose Hill where heat pumps have been installed through the project.  

    Second Session (5:15 pm – 8:00 pm) This session is for residents and will include talks from the Clean Heat Streets team outlining the next steps for the project in Oxford, as well as a meal, and interactive workshop where visitors can explore and share their thoughts on energy-saving strategies and heat pumps. The event will end with a home energy quiz.  

    More information about the event can be found on Eventbrite.  

    About Clean Heat Streets 

    The Clean Heat Streets project is a consortium consisting of Samsung, Oxford City Council, University of Oxford, Oxford Brookes University, Oxfordshire County Council, Rose Hill and Iffley Low Carbon, Scottish and Southern Electricity Networks (SSEN), GenGame, Passiv UK, and Alto Energy.     

    The project is funded by the Heat Pump Ready Funding Programme delivered by the Department for Energy Security and Net Zero. The Heat Pump Ready Programme makes up part of the BEIS’ £1 billion Net Zero Innovation portfolio, which aims to promote the uptake of clean energy technologies until 2040. 

    Comment

    “I am delighted that we are holding this event to mark the end of the successful Clean Heat Streets project. I want to thank all our partners who helped to make this project a success, and the 31 households in Rose Hill who worked with us to explore this new approach to heat pump installations. We will be continuing to explore how we can support residents across the city with adopting this technology.” 

    Councillor Anna Railton, Deputy Leader and Cabinet Member for Zero Carbon Oxford, Oxford City Council

    “My boiler was getting old and needed replacing. I’m very happy with my heat pump. It keeps the house warm and the water hot, even through the cold winter.”
    Trevor Williams, Clean Heat Streets participant, who lives on Spencer Crescent

    MIL OSI United Kingdom –

    January 31, 2025
  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with South Africa

    Source: IMF – News in Russian

    January 30, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with South Africa.

    South Africa’s economy has continued to face challenges in recent years. Power shortages and disruptions to rail and port operations constrained growth to 0.7 percent in 2023. Activity remained subdued in 2024, given election-related uncertainty in the first half of the year and severe droughts. Nonetheless, power generation was stabilized and, following the formation of a reform-oriented Government of National Unity in June, consumer, business, and investor confidence rebounded. Inflation moderated from 5.9 percent in 2023 to an estimated
    4.5 percent in 2024, with the central bank cutting interest rates by 50 basis points in 2024. While still high, unemployment declined to an estimated 32.8 percent in 2024. Government deficits remained elevated, pushing public debt to above 75 percent of GDP by end-2024.

    Looking ahead, real GDP growth is projected to accelerate to 1.5 percent in 2025, driven by recovering private consumption and investment supported by stable electricity generation. Over the medium term, annual growth is expected to reach 1.8 percent, as investment improves gradually on the back of ongoing reform efforts to address electricity and logistics bottlenecks. Inflation is projected to average 4 percent in 2025 and stabilize at the midpoint of the SARB’s target range (4.5 percent) in the medium run. With fiscal deficits projected to stay elevated over the medium term, public debt is expected to continue to rise.

    The outlook remains marked by high uncertainty, with the balance of risks tilted to the downside. Key downside external risks relate to a further deepening of geoeconomic fragmentation and intensification of protectionist policies, an escalation of ongoing conflicts, a deeper slowdown in main trading partners, or slower global disinflation and tightening financial conditions. Domestically, resistance to and delays in the implementation of needed reforms could add to downside risks. On the upside, faster and more ambitious reform implementation by the new government, or stronger global growth, could boost confidence and growth.   

    Executive Board Assessment[2]

    “Directors agreed with the thrust of the staff appraisal. They welcomed South Africa’s new Government of National Unity and its commitment to reforms aimed at addressing long‑standing challenges. While there are signs of recovery, economic activity remains subdued amid heightened global uncertainty and long‑standing structural impediments. Against this background, Directors emphasized the importance of prudent macroeconomic policies complemented by ambitious structural reforms to support macroeconomic stability and place the economy on a path toward higher, more inclusive, and greener growth.

    “Directors welcomed the authorities’ commitment to fiscal prudence, including plans to reduce the fiscal deficit and stabilize debt. Given increased risks, most Directors called for more ambitious fiscal consolidation efforts to lower debt to more prudent levels and rebuild fiscal buffers, although a few felt that the authorities’ preferred approach may be more appropriate given political economy considerations. Directors considered that an evenly paced fiscal consolidation focused on cutting inefficient spending while protecting priority social and infrastructure spending, and continuing to strengthen tax administration, can support debt sustainability while minimizing the negative impact on the economy. Most Directors agreed that introducing a prudent debt anchor supported by a fiscal rule could help underpin the adjustment and bolster credibility, although a few Directors felt that a debt ceiling could constrain flexibility. Enhancing fiscal transparency and risk management can further support the resilience of public finances.

    “Directors commended the South African Reserve Bank’s effective monetary management, which supported a decline in inflation. Looking forward, they recommended maintaining a flexible and data‑driven approach to monetary policy decisions amid ongoing uncertainties. Directors saw merit in shifting, at an opportune time, from the current inflation target band to a lower point target, which will require careful design, gradual implementation, close coordination, and appropriate communication.

    “Directors welcomed the authorities’ efforts to safeguard financial stability, including recent banking‑resolution and safety‑net reforms and macro‑prudential policies. They encouraged the authorities to continue to monitor risks, including those related to the sovereign‑bank nexus, and to stand ready to implement prudential measures as needed. They considered that strengthened supervision, including for non‑bank financial institutions, alongside continued efforts to bolster the AML/CFT framework, remain essential.

    “Directors commended the authorities for their structural reform efforts aimed at removing critical impediments to growth. They encouraged the new government to implement resolutely ongoing energy and logistics reforms, including by promoting private sector participation. To support higher and greener growth and job creation, particularly among the youth, while reducing inequality and poverty, Directors recommended additional reforms to enhance the business environment, bolster governance, and improve labor market flexibility, along with sustained efforts to facilitate trade and achieve climate goals.

    Directors wished the authorities success during South Africa’s G20 Presidency and welcomed their leadership in support of multilateral cooperation.”

     

    South Africa: Selected Economic Indicators, 2022–27

    Social Indicators

    GDP

    Poverty (percent of population)

    Nominal GDP (2022, billions of US dollars)

    407

    Lower national poverty line (2015)

    40

    GDP per capita (2022, in US dollars)

    6,712

    Undernourishment (2019)

    7

    Population characteristics

    Inequality (income shares unless otherwise specified)

    Total (2022, million)

    62

    Highest 10 percent of population (2015)

    53

    Urban population (2020, percent of total)

    67

    Lowest 40 percent of population (2015)

    7

    Life expectancy at birth (2020, number of years)

    64

    Gini coefficient (2015)

    65

    Economic Indicators

    2022

    2023

    2024

    2025

    2026

    2027

    Proj.

    National Income and Prices

    (Annual Percentage Change Unless Otherwise Indicated)

    Real GDP

    1.9

    0.7

    0.8

    1.5

    1.6

    1.7

    Domestic demand

    3.9

    0.8

    0.4

    1.5

    1.6

    1.8

    Private Consumption

    2.5

    0.7

    1.2

    1.4

    1.5

    1.6

    Government Consumption

    0.6

    1.9

    1.0

    1.0

    1.2

    1.3

    Gross Fixed Investment

    4.8

    3.9

    -3.4

    2.5

    2.7

    3.1

    Inventory Investment (contribution to growth)

    1.5

    -0.6

    0.0

    0.0

    0.0

    0.0

    Net export (contribution to growth)

    -2.1

    -0.1

    0.4

    0.1

    -0.1

    -0.1

    Real GDP per capita 1/

    1.1

    -0.8

    -0.7

    0.1

    0.1

    0.2

    GDP deflator

    5.0

    4.8

    4.4

    4.1

    4.5

    4.5

    CPI (annual average)

    6.9

    5.9

    4.5

    4.0

    4.5

    4.5

    CPI (end of period)

    7.4

    5.5

    3.0

    4.5

    4.5

    4.5

    Labor Market

    (Annual Percentage Change Unless Otherwise Indicated)

    Unemployment rate (percent of labor force, annual average)

    33.5

    33.1

    32.8

    32.7

    32.5

    32.3

    Unit labor costs (formal nonagricultural)

    2.1

    -0.8

    -0.7

    0.1

    0.1

    0.2

    Savings and Investment (Percent of GDP)

    Gross national saving

    15.0

    13.9

    13.2

    12.9

    13.0

    13.0

    Investment (including inventories) 2/

    15.4

    15.5

    14.5

    14.6

    14.8

    15.0

    Fiscal Position

    (Percent of GDP Unless Otherwise Indicated) 3/

    Revenue, including grants 4/

    27.6

    26.8

    26.8

    26.8

    26.9

    26.9

    Expenditure and net lending

    31.9

    32.7

    32.9

    33.3

    32.6

    32.3

    Overall balance

    -4.3

    -5.9

    -6.1

    -6.6

    -5.8

    -5.4

    Primary balance

    0.3

    -0.9

    -0.7

    -1.0

    -0.1

    0.4

    Gross government debt 5/

    70.8

    73.4

    75.7

    78.3

    80.1

    81.7

    Government bond yield (10-year and over, percent)

    10.7

    11.6

    11.2

    …

    …

    …

    Money and Credit

    (Annual Percentage Change Unless Otherwise Indicated)

    Broad money

    8.3

    7.9

    5.2

    5.7

    6.2

    6.3

    Credit to the private sector 6/

    8.2

    4.1

    5.0

    5.6

    6.2

    6.3

    Repo rate (percent, end-period)

    7.0

    8.25

    7.75

    …

    …

    …

    3-month Treasury bill interest rate (percent)

    5.2

    8.0

    8.3

    …

    …

    …

    Private sector credit growth (total) 7/

    9.2

    4.8

    4.3

    …

    …

    …

    Credit growth (households) 8/

    7.7

    4.4

    3.1

    …

    …

    …

    Credit growth (corporates) 8/

    10.7

    5.2

    6.4

    …

    …

    …

    Balance of Payments

    (Annual Percentage Change Unless Otherwise Indicated)

    Current account balance (billions of U.S. dollars)

    -1.8

    -6.1

    -5.3

    -7.3

    -7.8

    -8.9

    percent of GDP

    -0.5

    -1.6

    -1.3

    -1.7

    -1.8

    -2.0

    Exports growth (volume)

    7.4

    3.5

    -4.0

    2.7

    2.8

    2.9

    Imports growth (volume)

    14.9

    4.1

    -4.9

    2.2

    3.0

    3.2

    Terms of trade

    -8.6

    -4.8

    1.7

    -1.7

    -0.3

    0.0

    Overall balance (percent of GDP)

    0.0

    0.5

    0.8

    0.0

    0.0

    0.0

    Gross reserves (billions of U.S. dollars)

    60.6

    62.5

    65.9

    65.9

    65.9

    65.9

    in percent of ARA

    88.9

    97.0

    97.1

    …

    …

    …

    Total external debt (percent of GDP)

    40.4

    41.5

    43.2

    44.7

    45.1

    45.6

    Nominal effective exchange rate (period average)

    16.6

    18.8

    18.6

    …

    …

    …

    Real effective exchange rate (period average)

    6.8

    7.7

    7.5

    …

    …

    …

    Exchange rate (Rand/U.S. dollar, end-period)

    17.0

    18.5

    18.7

    …

    …

    …

    Sources: Bloomberg, Haver, National Treasury South Africa, SARB, World Bank, and IMF staff calculations.

    1/ Per-capita GDP figures are computed using STATS SA mid-year population estimates.

    2/ Inventories data are volatile and excluded from the investment breakdown to help clarify fixed capital formation developments.

    3/ Consolidated government as defined in the budget unless otherwise indicated.

    4/ Revenue excludes “transactions in assets and liabilities” classified as part of revenue in budget documents. This item represents proceeds from the sales of assets, realized valuation gains from holding of foreign currency deposits, and other conceptually similar items, which are not classified as revenue by the IMF’s Government Finance Statistics Manual 2014.

    5/ Central government.

    6/ Depository institution’s domestic claims on private sector in all currencies.

    7/ Credit extended by all monetary institutions/ Claims on the domestic private sector/ Total loans & advances. Data for 2024 is as of November.

    8/ Data for 2024 is as of August.

    [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] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Tatiana Mossot

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/01/29/pr-2519-south-africa-imf-executive-board-concludes-2024-article-iv-consultation

    MIL OSI

    MIL OSI Russia News –

    January 31, 2025
  • MIL-OSI Security: Financial institutions and law enforcement enhance their cooperation

    Source: Europol

    The Europol Financial Intelligence Public Private Partnership (EFIPPP) provides a collaborative mechanism between more than 90 private stakeholders, Financial Intelligence Units (FIUs) and law enforcement agencies to address structured threat information across the community. The EFIPPP secretariat is located within the European Financial and Economic Crime Centre (EFECC) at Europol.The drafting of the Practical Guide was based on existing operational…

    MIL Security OSI –

    January 31, 2025
  • MIL-OSI Security: Meet the Richmonds: A Navy Family Committed to Advancing Navy Medicine Through Service

    Source: United States Navy (Medical)

    Story by: Lieutenant Julius C. Wiseman III, DBA, MBA, MPS, USNMRTC Sigonella

    SIGONELLA, Sicily – In a remarkable testament to dedication and service, Petty Officers Samantha and Albert Richmond recently celebrated a significant milestone in their military careers. Last November, they were both promoted, earning the distinguished title of Hospital Corpsman First Class (HM1). This achievement is not merely a rank; it symbolizes their unwavering commitment to the Navy and their pivotal roles in enhancing Navy Medicine.

    The story of the Richmonds is one of serendipity and shared purpose. Both Petty Officers arrived at the United States Navy Medicine Readiness and Training Command (USNMRTC) Sigonella, in Sicily, Italy, in 2022, drawn by their respective duties within the Navy. Although their paths diverged before this point, it was in this picturesque Mediterranean locale that their lives intertwined. In 2023, they not only solidified their bond through marriage but also welcomed their daughter, Danielle, into the world, marking a new chapter in their family’s journey.

    Samantha Richmond, hailing from the small, close-knit town of Saint Marys, Georgia, has been a beacon of resilience and service since enlisting in the U.S. Navy in 2013. Her career has taken her to various esteemed commands, including Navy Medicine Readiness and Training Command Pensacola, the Naval Medical Center Portsmouth, and the USS PORT ROYAL (CG-73). During her tenure aboard the USS PORT ROYAL, she completed a notable Fifth Fleet deployment and two Seventh Fleet deployments in the Western Pacific, experiences that have enriched her medical expertise and honed her leadership skills. Currently, HM1 Samantha Richmond serves in the Multi-Service Ward, where she has taken on the critical role of Leading Petty Officer. In this capacity, she not only oversees the day-to-day operations of the ward but also ensures that her team is well-coordinated and prepared to meet the diverse medical needs of service members from various branches. Her leadership extends beyond patient care; she also serves as the Assistant Security Manager for the Command, which underscores her versatility and commitment to maintaining the safety and security of her fellow personnel.

    When asked about her favorite aspect of her job, Samantha responded with heartfelt sincerity, “My favorite part of the job has always been helping people, in all aspects, administratively and through patient care.” This statement reflects her deep-rooted passion for service and her belief in the importance of compassion and support in the healthcare environment. Whether she is managing administrative tasks or providing direct patient care, her goal is to make a positive impact on the lives of those she serves.

    Samantha also shared her perspective on what serving in the Navy means to her personally. “Serving to me means embracing a lifestyle that sometimes requires long periods away from home and committing to defend national security,” she explained. This sentiment captures the essence of military life, where personal sacrifice is often required in the name of a greater cause. For Samantha, the challenges of military service are balanced by the profound sense of purpose that comes from contributing to the safety and well-being of her country.
    In reflecting on her journey, she identifies the birth of their daughter, Danielle, and being promoted alongside her husband, Albert, as her most noteworthy accomplishments. These milestones not only represent personal triumphs but also signify the strength of their partnership as they navigate the complexities of military life together.

    HM1 Albert Richmond, a dedicated member of the U.S. Navy, was born and raised in the vibrant and diverse urban environment of Southeast San Diego, California. Growing up in such a dynamic city, he was surrounded by a rich tapestry of cultures and experiences that shaped his outlook on life and his aspirations for the future. Albert cites his upbringing as a significant motivator in his decision to enlist in the Navy. “Lessons that I learned from my hometown that have stuck with me to this day are that we can choose whether to be products of our environment or representations of something greater. I chose to be a representation as a United States Sailor,” HM1 Richmond reflected. This powerful statement encapsulates his commitment to rise above challenges and embody the values of honor, courage, and commitment that define the Navy.

    In just eight years of service, Petty Officer Albert Richmond has already made an impressive mark on his military career. He has completed three deployments, including significant contributions to Operation Inherent Resolve, a mission aimed at combating terrorism in the Middle East, and Cobra Gold, a multinational military exercise conducted annually in Thailand that enhances interoperability among allied forces. His experience with a Special Marine Group Task Force during these missions has equipped him with a wealth of knowledge and skills, further solidifying his role as a competent and reliable service member.

    Albert’s previous command at the 1st Marine Division allowed him to hone his skills in a fast-paced and demanding environment, preparing him for the challenges he would face in subsequent roles. Now stationed at USNMRTC Sigonella, he has taken on a pivotal role as the Command’s Career Counselor. In this capacity, he plays an essential part in shaping the futures of his fellow sailors. His mentorship has had a direct and positive impact on retention rates, as he works diligently to help sailors navigate their career paths, set goals, and develop visions for their futures. Albert’s commitment to fostering professional growth within the ranks exemplifies his dedication to the Navy and its personnel.

    Simultaneously, he also serves as the Leading Petty Officer of the Flight Line Clinic, where he oversees operations and ensures that the medical needs of personnel are met efficiently and effectively. This dual role showcases his ability to balance multiple responsibilities while maintaining a high standard of care and leadership. Albert’s contributions to both the Career Counseling program and the Flight Line Clinic illustrate his unwavering commitment to the Navy’s mission and the well-being of his fellow sailors.

    The Richmonds are just one example of the many co-spouses who serve within the ranks of the United States Navy, embodying the unique challenges and rewards that come with dual-military careers. As they embark on their next adventure, they are en route to Japan, where they will be stationed on the beautiful and strategically significant Island of Okinawa. This move represents not only a new chapter in their professional lives but also an opportunity to immerse themselves in a rich cultural environment that is steeped in history and tradition.

    HM1 Samantha Richmond will continue her mission at United States Navy Medicine Readiness and Training Command Okinawa, where she will apply her extensive experience and dedication to enhancing medical readiness and patient care. Meanwhile, HM1 Albert Richmond will be returning to his roots with the Marine Corps at the III Marine Expeditionary Force (III MEF). This assignment is particularly meaningful for him, as it allows him to reconnect with the Marine Corps legacy that has shaped his military journey.

    Together, the Richmonds stand as a guiding light of inspiration to many within the military community. Their journey exemplifies the resilience and adaptability required of dual military families, showcasing how they can successfully navigate the complexities of service while maintaining their family bond. Their experiences serve as a testament to how the Navy actively supports dual military families, offering resources and programs designed to help them thrive both personally and professionally.

    As they look toward the future, the Richmonds undoubtedly have bright prospects ahead of them in the United States Navy. Their dedication to service, commitment to one another, and willingness to embrace new challenges will continue to inspire those around them. In a world where military families often face unique hurdles, the Richmond story highlights the strength found in partnership, shared values, and a common mission, reinforcing the idea that together, they can achieve great things both in their careers and as a family.

    MIL Security OSI –

    January 31, 2025
  • MIL-OSI: Invesco Ltd: Form 8.3 – American Axle & Manufacturing Holdings Inc; Opening Position disclosure

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    OPENING POSITION DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Invesco Ltd.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
       
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree
    American Axle & Manufacturing Holdings, Inc.  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure
    29.01.2025  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”
    Yes, Dowlais Group plc  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: USD 0.01 common US0240611030  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 1,889,922 1.60      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 1,889,922 1.60      
       
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

     
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

     
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
             
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
     
    None  
       
    (b) Agreements, arrangements, or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
     
    None  
       
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 30.01.2025  
    Contact name Philippa Holmes  
    Telephone number +441491417447  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

    January 31, 2025
  • MIL-OSI: Military Drones Market Heating Up as Multi-Billion Dollar Industry Realizing Rapidly Increasing Demand

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla. , Jan. 30, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Military drone refers to unmanned aerial vehicles that are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry. The main types of military drones are fixed-wing, rotary-wing, and hybrid. A fixed-wing drone is a plane that doesn’t have a human pilot on board. Fixed-wing UAVs can be commanded remotely by a human or Autonomously by onboard systems. The different types of drones include MALE, HALE, TUAV, UCAV, SUAV and involve various technologies such as remotely operated, semi-autonomous, autonomous. It is used in Search And Rescue, national defense, military exercises, and others. According to a report from The Business Research Company, the military drones market size has grown strongly in recent years. It will grow from $15.93 billion in 2024 to $17.05 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increasing military expenditure, increasing the use of military drones, increasing government funding for military drones and low interest rates. The report said: “The military drones market size is expected to see strong growth in the next few years. The growth in the forecast period can be attributed to an increase in government funds and increasing internal and external security threats. Major trends in the forecast period include strategic mergers and acquisitions, focus on use of 3D printing, use of the internet of things (IoT), focus on implementing autonomous systems and focusing on implementing emerging technologies such as artificial intelligence (AI).” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Northrop Grumman Corporation (NYSE: NOC), AeroVironment, Inc. (NASDAQ: AVAV), The Boeing Company (NYSE: BA), Red Cat Holdings, Inc. (NASDAQ: RCAT).

    The Business Research Company concluded: “The increasing terrorism is expected to boost the growth of the military drone market going forward. Terrorism refers to an act of violence that would put others in danger while showing a blatant disdain for the harm IT would do. Governments and military organizations often use military drones in counter-terrorism efforts. Drones can provide valuable intelligence, surveillance, and reconnaissance (ISR) capabilities to monitor and track terrorist activities. The need for real-time data and actionable intelligence in counter-terrorism operations drives the demand for military drones… Asia-Pacific was the largest region in military drones’ market in 2024. Western Europe is expected to be the fastest-growing region in the global military drones market share during the forecast period.”

    ZenaTech (NASDAQ:ZENA) Announces Spider Vision Sensors Collaborates with Suntek Global to Apply for First Blue UAS Certification of IQ Nano Drone Sensor for US Defense – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that its subsidiaries ZenaDrone and Spider Vision Sensors are collaborating with Taiwan-based certified electronics manufacturer and partner, Suntek Global, to apply for the company’s first Blue UAS (Unmanned Aerial System) certified IQ Nano drone sensor for use by US Defense branches.

    A drone sensor is a device onboard a drone that collects data, such as cameras for imaging, LiDAR for mapping, or infrared sensors for thermal detection. Military and Defense departments use small autonomous indoor drones like the 10X10 inch IQ Nano for various applications such as inventory management, indoor building reconnaissance, search and rescue, training simulations, and explosives detection.

    “We have been working with Suntek on Blue UAS certification for our cameras and sensors since signing a partnership agreement in early December, in conjunction with our Spider Vision Sensors manufacturing subsidiary in Taiwan,” said CEO Shaun Passley, Ph.D. “Our immediate goal is to utilize Suntek’s expertise having achieved Blue UAS certification, to help us source and manufacture our own compliant components as well as help us with the Blue UAS application process for our components and the IQ Nano drone. If approved, the drone is placed on the Blue UAS Cleared List, allowing military and federal agencies to directly purchase our drones.

    “The IQ Nano drone is ideal for indoor operations in scenarios requiring precision, maneuverability, and minimal collateral damage, and can also improve efficiency and costs managing inventories of supplies in the Department of Defense (DoD) warehouse and storage facilities,” concluded Dr. Passley.

    The company also intends to file for the less stringent and faster to achieve Green UAS certification for IQ Nano sensor and the drone in the second quarter of 2025. The Green certification is considered a pathway to the Blue certification list, with the main difference being that it is a commercial certification for secure drones led by a drone industry association (AUVSI). The Blue UAS is a military-grade approval for DoD use and has strict country of origin requirements that must not include a set list of Chinese suppliers. The Blue UAS Certification Process for DoD use is managed by the Defense Innovation Unit (DIU) and includes additional security and performance evaluations. Continued… Read this full release for ZENA by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the defense/military industry include:

    Northrop Grumman Corporation (NYSE: NOC) recently announced that its fourth quarter and full-year 2024 financial results will be posted on its investor relations website on January 30, 2025. Prior to the market opening, the company will issue an advisory release notifying the public of the availability of the complete and full text earnings release on the company’s website at http://investor.northropgrumman.com.

    The company’s fourth quarter and 2024 conference call will be held at 9 a.m. Eastern time, Thursday, January 30, 2025. The conference call will be webcast live on Northrop Grumman’s website at http://investor.northropgrumman.com. Replays of the call will be available on the Northrop Grumman website for a limited time. Presentations may be supplemented by a series of slides appearing on the company’s investor relations home page.

    AeroVironment, Inc. (NASDAQ: AVAV) recently reported financial results for the fiscal second quarter ended October 26, 2024. Second Quarter Highlights were: Record second quarter revenue of $188.5 million up 4% year-over-year; Second quarter net income of $7.5 million and non-GAAP adjusted EBITDA of $25.9 million; Funded backlog of $467.1 million as of October 26, 2024; and announced its entry into an agreement for the acquisition of BlueHalo in an all-stock transaction with an enterprise value of approximately $4.1 billion.

    “AeroVironment continues to deliver strong results, including record second-quarter revenue along with a healthy funded backlog that is 25% higher than the prior quarter,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “Key wins from our Loitering Munition Systems segment continue to drive growth for the company.

    “We expect our proposed acquisition of BlueHalo to further advance our growth opportunities with a highly complementary portfolio of products, customers and capabilities in key defense space and intelligence sectors and establish AeroVironment as the next generation defense technology company for our customers. We look forward to continued momentum beyond fiscal year 2025.”

    The Boeing Company (NYSE: BA) recently released Fourth Quarter Results which were: Finalized the International Association of Machinists and Aerospace Workers (IAM) agreement and resumed production across the 737, 767 and 777/777X programs; Financials reflect previously announced impacts of the IAM work stoppage and agreement, charges for certain defense programs, and costs associated with workforce reductions announced last year; Revenue of $15.2 billion, GAAP loss per share of ($5.46) and core (non-GAAP) loss per share of ($5.90); and Operating cash flow of ($3.5) billion; cash and marketable securities of $26.3 billion. Full Year 2024; Delivered 348 commercial airplanes and recorded 279 net orders; Total company backlog grew to $521 billion, including over 5,500 commercial airplanes.

    The Boeing Company [NYSE: BA] recorded fourth quarter revenue of $15.2 billion, GAAP loss per share of ($5.46) and core loss per share (non-GAAP) of ($5.90) (Table 1) primarily reflecting previously announced impacts of the IAM work stoppage and agreement, charges for certain defense programs, and costs associated with workforce reductions announced last year. Boeing reported operating cash flow of ($3.5) billion and free cash flow of ($4.1) billion (non-GAAP).

    “We made progress on key areas to stabilize our operations during the quarter and continued to strengthen important aspects of our safety and quality plan,” said Kelly Ortberg, Boeing president and chief executive officer. “My team and I are focused on making the fundamental changes needed to fully recover our company’s performance and restore trust with our customers, employees, suppliers, investors, regulators and all others who are counting on us.”

    Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced it has secured new orders for its Edge 130 drone from the Army National Guard and another U.S. Government Agency (OGA), totaling $518,000.

    FlightWave, a leading provider of VTOL drone, sensor and software solutions was acquired by Red Cat in September 2024. The acquisition brought FlightWave’s flagship drone, the Edge 130 Blue into its family of low-cost, portable unmanned reconnaissance and precision lethal strike systems. FlightWave’s size, weight and vertical take off capabilities makes it ideal for maritime operations and littoral environments.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated fifty four hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:
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    SOURCE: FN Media Group

    The MIL Network –

    January 31, 2025
  • MIL-OSI: Invesco Ltd: Form 8.3 – Dowlais Group PLC; Opening Position disclosure

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    OPENING POSITION DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Invesco Ltd.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
       
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree
    Dowlais Group plc  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure
    29.01.2025  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”
    Yes, American Axle & Manufacturing Holdings, Inc.  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: 1p ordinary GB00BMWRZ071  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 360,552 0.02      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 360,552 0.02      
       
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

     
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

     
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
             
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
     
    None  
       
    (b) Agreements, arrangements, or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
     
    None  
       
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 30.01.2025  
    Contact name Philippa Holmes  
    Telephone number +441491417447  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

    January 31, 2025
  • MIL-OSI China: Tourists visit 31st Zigong Int’l Dinosaur Lantern Show in Zigong, China’s Sichuan

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

    Tourists visit 31st Zigong Int’l Dinosaur Lantern Show in Zigong, China’s Sichuan

    Updated: January 30, 2025 21:16 Xinhua
    Light installations are pictured at the 31st Zigong International Dinosaur Lantern Show in Zigong, southwest China’s Sichuan Province, Jan. 17, 2025. The national-level intangible cultural heritage project Zigong lantern show boasts a long history, as it can be traced back to the Tang (618-907) and Song (960-1279) dynasties. In 1964, Zigong held the first lantern show celebrating the Spring Festival. So far, making colorful lanterns has become a popular industry here, with Zigong lanterns having been displayed in more than 80 countries and regions. Making a Zigong lantern involves many craftsmen, including art designers, bench workers, mechanics, electricians and paper-hanging workers. The complete process can hardly be found in other places in China. [Photo/Xinhua]
    Light installations are pictured at the 31st Zigong International Dinosaur Lantern Show in Zigong, southwest China’s Sichuan Province, Jan. 17, 2025. [Photo/Xinhua]
    Tourists visit the 31st Zigong International Dinosaur Lantern Show in Zigong, southwest China’s Sichuan Province, Jan. 17, 2025. [Photo/Xinhua]
    A worker colors a lantern at a workshop in Zigong, southwest China’s Sichuan Province, Jan. 14, 2025. [Photo/Xinhua]
    A drone photo shows tourists visiting the 31st Zigong International Dinosaur Lantern Show in Zigong, southwest China’s Sichuan Province, Jan. 17, 2025. [Photo/Xinhua]
    A drone photo shows light installations at the 31st Zigong International Dinosaur Lantern Show in Zigong, southwest China’s Sichuan Province, Jan. 17, 2025. [Photo/Xinhua]
    A worker decorates a lantern at a workshop in Zigong, southwest China’s Sichuan Province, Jan. 14, 2025. [Photo/Xinhua]
    Tourists visit the 31st Zigong International Dinosaur Lantern Show in Zigong, southwest China’s Sichuan Province, Jan. 17, 2025. [Photo/Xinhua]
    Tourists visit the 31st Zigong International Dinosaur Lantern Show during trial operation in Zigong, southwest China’s Sichuan Province, Jan. 14, 2025. [Photo/Xinhua]
    A drone photo shows light installations at the 31st Zigong International Dinosaur Lantern Show in Zigong, southwest China’s Sichuan Province, Jan. 17, 2025. [Photo/Xinhua]
    This combo photo shows a child’s drawing (L) and light installations of the drawing at the 31st Zigong International Dinosaur Lantern Show during trial operation in Zigong, southwest China’s Sichuan Province, Jan. 14, 2025. [Photo/Xinhua]

    MIL OSI China News –

    January 31, 2025
  • MIL-OSI China: 9th Asian Winter Games to be held in Harbin on Feb. 7

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

    9th Asian Winter Games to be held in Harbin on Feb. 7

    Updated: January 30, 2025 21:40 Xinhua
    This aerial photo taken on Jan. 27, 2025 shows Heilongjiang Ice Events Training Center Multifunctional Hall in Harbin, northeast China’s Heilongjiang Province. The 9th Asian Winter Games will take place in Harbin, capital of northeast China’s Heilongjiang Province from Feb. 7 to 14, 2025. The Games will feature six sports, 11 disciplines and 64 events. The ice events will be held in Harbin, using the existing venues from the 1996 Asian Winter Games, while the snow events will be in Yabuli, 193 km from Harbin. The regional games will be staged in China for the third time, following Harbin in 1996 and Changchun, capital city of Jilin Province, in 2007. [Photo/Xinhua]
    This aerial photo taken on Jan. 27, 2025 shows Heilongjiang Ice Events Training Center Speed Skating Oval in Harbin, northeast China’s Heilongjiang Province. [Photo/Xinhua]
    This aerial photo taken on Jan. 16, 2025 shows Yabuli Ski Resort in Yabuli, northeast China’s Heilongjiang Province. [Photo/Xinhua]
    This aerial photo taken on Jan. 26, 2025 shows the night view of the Harbin Ice-Snow World in Harbin, northeast China’s Heilongjiang Province. [Photo/Xinhua]
    This aerial photo taken on Jan. 21, 2025 shows Harbin Pingfang District Curling Arena in Harbin, northeast China’s Heilongjiang Province. [Photo/Xinhua]
    This aerial photo taken on Jan. 16, 2025 shows Slopestyle Stadium and Big Air Stadium at the Yabuli Ski Resort in Yabuli, northeast China’s Heilongjiang Province. [Photo/Xinhua]
    This aerial photo taken on Jan. 16, 2025 shows Biathlon Gymnasium at the Yabuli Ski Resort in Yabuli, northeast China’s Heilongjiang Province. [Photo/Xinhua]
    This aerial photo taken on Jan. 27, 2025 shows Harbin Sport University Student Skating Rink in Harbin, northeast China’s Heilongjiang Province. [Photo/Xinhua]
    This aerial photo taken on Jan. 27, 2025 shows the Athletes’ Village for the ice sports competitions, the Main Press Center and Harbin International Conference, Exhibition and Sports Center, the venue for the opening and closing ceremonies, in Harbin, northeast China’s Heilongjiang Province. [Photo/Xinhua]
    This aerial photo taken on Jan. 27, 2025 shows Harbin Ice Hockey Arena in Harbin, northeast China’s Heilongjiang Province. [Photo/Xinhua]

    MIL OSI China News –

    January 31, 2025
  • MIL-OSI Economics: Greece: Staff Concluding Statement of the 2025 Article IV Consultation Mission

    Source: International Monetary Fund

    January 30, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Greece’s near-term economic outlook remains favorable, with real GDP sustaining its robust expansion. The public finances have further improved, with the public debt-to-GDP ratio on a firm downward trajectory, amid continued fiscal consolidation supported by strong progress in reducing tax evasion. Continuing the reform momentum will establish a solid foundation to address remaining crisis legacies and structural challenges arising from the rising yet still low level of overall investment, an unfavorable demographic outlook, and sluggish productivity growth. The right policy mix aimed at continuing fiscal consolidation in a growth-friendly manner, implementing ambitious reforms to address supply-side structural impediments, and further strengthening financial system resilience is essential to achieve sustainable growth in the medium to long term, while ensuring fiscal sustainability and safeguarding financial stability.

    Robust Expansion with Declining Debt

    1. The economy maintained its robust growth in 2024, supported by strong domestic demand. Real GDP expanded by 2.3 percent (year-on-year; y/y) in the first three quarters, buoyed by a strong pickup in NGEU-funded investment projects and robust private consumption underpinned by rising real income. The unemployment rate fell to 9.5 percent (seasonally adjusted) in 2024Q3, a historic low since 2009, and the vacancy rate has risen, reflecting labor shortages in a few sectors, particularly construction, tourism-related services, and high-skill sectors. The labor force participation rate has also gradually risen but remains among the lowest in EU, especially for women. Disinflation is underway at a gradual pace with headline and core inflation at 2.9 and 3.4 percent (y/y) in end-2024, respectively, amid persistent services inflation and wage growth. Along with strong economic activity, credit growth to the private sector has accelerated to 9.4 percent (y/y) in 2024Q4, accompanied by a continued increase in residential real estate prices. High domestic import demand, driven by investment, also contributed to the widening of the current account deficit to an estimated 6.9 percent of GDP in 2024.

    2. Continued fiscal consolidation and sustained progress in much-needed structural reforms have strengthened the public finances, growth potential, and energy security. By end-2024, the public debt-to-GDP ratio is estimated to have decreased by more than 50 percentage points from its peak in 2020, supported by strong growth, high inflation, and substantial fiscal consolidation. While the labor tax wedge has been reduced by about 4½ percentage points since 2019, tax revenue has remained buoyant due to the authorities’ strong progress in reducing tax evasion. The abolishment of substantial pension penalties for retirees re-entering the labor market significantly increased the number of working pensioners in 2024. Following the significant expansion of solar and wind capacity in recent years, renewable sources now account for about 50 percent of total electricity generation.

    3. The banking system has further enhanced its resilience with improved asset quality and capital adequacy. Asset quality in systemically important banks has improved further, with the NPL ratio dropping to around 3 percent in 2024Q3, facilitated by a government-sponsored securitization framework. Banks sustained high profits, which, along with capital instrument issuances, have boosted capital adequacy, although there is room for a further strengthening of voluntary capital buffers. The capital quality needs to be further improved as Deferred Tax Credit (DTC) still represents a substantial share of prudential capital. Given repayment of the Targeted Longer-Term Refinancing Operations (TLTROs) and meeting the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) targets, liquidity and funding risks have been markedly reduced, with buffers well above prudential requirements and the EU average.

    4. Real GDP growth is projected to remain high at 2.1 percent in 2025, before moderating in the medium term. Investment will continue to be a key driver, supported by NGEU-funded projects. Private consumption growth will remain solid, underpinned by favorable employment and income growth. With stabilizing global energy prices, headline inflation is expected to resume its downward trend, while core inflation will be more persistent due to services inflation and wage growth. With NGEU funding set to expire against the backdrop of demographic headwinds and sluggish productivity growth, GDP growth is forecast to moderate to lower levels around 1¼ percent in the medium term. The current account deficit is expected to narrow gradually below 4 percent of GDP in the medium term, as imports are expected to slow along with the winding down of NGEU-funded investment.

    5. Risks to the growth outlook are balanced, while those to inflation are tilted upward. Potential headwinds include the growth slowdown in major euro area countries, a deterioration of regional conflicts, and global policy uncertainty. The acceleration of ambitious structural reforms could further improve growth prospects. Stronger and more persistent-than-expected wage growth could further fuel services inflation, potentially exacerbated by fluctuations in global and regional energy prices.

    Growth-friendly Fiscal Consolidation

    6. Continued fiscal consolidation would further strengthen public debt sustainability. The primary surplus is expected to remain high at around 2½ percent of GDP in 2025 as reduced revenue from an additional cut in social security contributions is expected to be broadly offset by revenue gains from reforms aimed at reducing tax evasion and increasing tax compliance. With the primary surplus remaining high at 2.3 percent of GDP in the medium term, the public debt-to-GDP ratio is projected to decrease further by about 25 percentage points to below 130 percent by 2030.

    7. Additional expenditure measures that raise efficiency would further strengthen Greece’s public finances. Continued reforms are necessary to enhance efficient public investment planning and management, including through further strengthening centralized coordination and procurement. It is essential to protect non-pension social spending, such as healthcare and education, to promote inclusive growth, while enhancing efficiency. Excessive increases in pensions and public-sector wages should be resisted by implementing recent reforms, for example by ensuring that pension increases adhere to the established indexation formula without ad hoc adjustment.

    8. There is room for additional revenue-enhancing reforms to further reduce tax evasion while enhancing the progressivity of the tax system. The Independent Authority for Public Revenue’s new medium-term strategy presents a good opportunity to further modernize tax administration and increase tax collection by continuing to leverage digitalization, which also reduces the burden of compliance. Tax policy reforms should focus on broadening the tax base and increasing tax progressivity. Additionally, inefficient tax expenditures, particularly the regressive VAT exemptions on some goods and services, should be phased out. The authorities should also consider raising carbon pricing, particularly in the transport and industry sectors, which can generate revenue for improved social protection and help address climate change and energy security by sharpening market incentives.

    9. Fiscal space created by additional measures or better-than-expected performance should be used for debt reduction as well as crucial social and capital spending. While public debt remains high, there are significant infrastructure investment needs, especially for energy security and in support of the green transition. The authorities should also consider enhancing support for crucial social expenditures, such as healthcare, and education with increased targeting toward the poor and vulnerable to promote inclusive growth.

    Structural reforms for boosting potential growth

    10. Comprehensive reforms to address structural supply-side impediments would increase productivity and medium-term growth prospects.

    • Raising labor force participation and ensuring a better skilled workforce. Increasing the availability of childcare and elderly care facilities can enable women to engage more productively in the economy. Reducing the still high tax wedge, coupled with appropriate job search and phasing out certain features of the unemployment benefit within the eligibility period, can enhance work incentives. Upgrading and scaling up the lifelong learning system with effective private sector participation, particularly in digital and green skills, as well as healthcare, can reduce skill mismatches and help alleviate bottlenecks for youth and female employment.
    • Accelerating regulatory reforms. Further reducing the regulatory burden and barriers to entry for firms, particularly in the services sector, would foster competition, increase productivity, and promote investment. Promoting business dynamism and fostering robust job creation are essential for effectively integrating new labor force entrants, particularly women, into employment. The quality of regulation needs to be improved by leveraging digitalization and enhancing regulatory impact assessments. Further enlarging and deepening the European single market would allow firms to grow to scale and lift productivity.
    • Advancing judicial system reforms. Progress in the implementation of the new insolvency framework, which is essential for addressing a large stock of crisis legacy distressed debt, has been hindered by imbalances and rigidities in the functioning of the civil judiciary system. In line with the recent judicial reform program, efforts should focus on accelerating the resolution of court cases. Such reforms would not only enhance financial sector resilience but also promote productive growth by facilitating the reallocation of capital to more productive activities and higher investment.

    11. Continued progress in green and digital transition will help achieve energy security and further boost productivity growth. Improving power connectivity with distant islands and enhancing energy efficiency in industries and transportation are essential for achieving the updated climate goals. Building on the ongoing increase in solar and wind capacity, scaling up grid networks and storage solutions will contribute to energy security by ensuring a stable power supply. More fundamentally, the completion of the EU-wide Energy Union, with a fully integrated and interconnected energy market, will remain crucial. Additionally, building on the commendable digitalization of public administration and the new national artificial intelligence strategy, the authorities should incentivize stronger adoption of digital technologies by the private sector to enhance productivity gains.

    Strengthening financial system resilience

    12. Monitoring of credit risks by banks should be further strengthened, while enhancing capital adequacy and its quality. With accelerating credit growth, supervisors should continue scrutinizing the extent to which banks deploy adequate and forward-looking provisioning policies, supported by adequate collateral valuations. Supervisors should also closely monitor how banks adapt their business models to the changing operating environment and further strengthen their risk management frameworks. Currently elevated bank profits should be primarily utilized to build capital buffers and improve the quality of capital. The recently announced initiative by banks to accelerate the amortization of DTCs will enhance bank resilience and reduce the bank-sovereign nexus.

    13. The implementation of the recently adopted comprehensive macroprudential toolkit will further strengthen the resilience of the banking sector. Staff welcomes activation of borrower-based measures (BBMs) for mortgage loans and a positive neutral countercyclical capital buffer (CCyB). The BBMs, in the form of caps on loan-to-value (LTV) and debt service-to-income (DSTI) ratios, should help contain excessive mortgage leverage buildup while limiting banks’ exposure to the housing boom, although close monitoring is warranted. Given the still relatively low combined capital buffers, the authorities could consider recalibrating the CCyB rate over the medium term to align with increasing uncertainty and enhance resilience.

    In closing, the mission would like to thank the Greek authorities and other stakeholders for their kind hospitality and for the open and productive discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva Graf

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

    @IMFSpokesperson

    MIL OSI Economics –

    January 31, 2025
  • MIL-OSI United Kingdom: Minister for Latin America and Caribbean speech at RUSI Latin American Security Conference 2025

    Source: United Kingdom – Executive Government & Departments

    Parliamentary Under-Secretary of State for Latin America and Caribbean, Baroness Chapman of Darlington, gave a speech at the RUSI Latin American Security Conference 2025.

    Thank you, Malcolm. I was just saying to Malcolm before that the last time I was here was to hear Douglas Alexander speak. This was at a time before Brexit, before COVID.

    We had a coalition government – he was the Shadow Foreign Secretary then, and much in the world has changed since.

    And it’s been far too long – that was, I think 2014, so 11 years ago. And I hope that I’ll be back here – well let’s see if I’m invited back here after this morning!

    Anyway, thank you Malcolm for that warm introduction.

    And good morning, everyone – bom dÍa, buenos dias a todos y todas.

    If you are joining us from Latin America, as I believe some people are online. Thank you for getting up so early – muchismas gracias.

    My Spanish is atrocious, but I am getting some lessons, so hopefully that will be improving soon. And as the Brazilian Ambassador reminded me yesterday, a little bit of Portuguese wouldn’t go amiss either, so I’ll be working on that.

    Before I say anything else, I want to thank RUSI for bringing us together for the third Latin American Security Conference – and to all of your for making this a priority.

    I have a passion for Latin America, and it is great when you get the opportunity to be in a room full of other people that share that view.

    When I meet with Latin American leaders, they tell me that they do feel that they have an important role to play alongside the UK.

    Nobody has told me that they feel ignored by the UK – which is good – but they have all said that they have the desire to be more included in the future.

    The geopolitics that we all spend our time trying to understand and to shape, drives and shapes the prospects for many of the people in Latin America – whether that’s climate change, economic growth and security, in every sense, they are priorities there exactly as they are priorities for us here.

    The war in Ukraine, the conflict in the Middle East, the role of China, US elections – all influence the politics of Latin America.

    Throw in the descent of Venezuela into autocracy, and our as-yet un-ending tragedy that is Haiti – and we have got a lot to talk about together.

    As we approach 200 years of bilateral relations with Brazil, Argentina and Colombia, we should consider how far we’ve come, but also what needs to come next.

    Speaking recently to the next generation of officer cadets at the Royal Naval College at Dartmouth, some 200 years since the days when John Illingworth and Admiral Lord Cochrane supported growing independence across the region, our defence and security co-operation is strong. In Latin America there is pride in our past relationships, and a strong sense that we should do more, not less, together in the future.

    Combatting serious organised crime to protect communities here as well as there, including the heinous trade in human misery that is illegal migration; getting urgent humanitarian relief to those bearing the brunt of natural disasters across the region; pursuing Antarctic science and wider marine protection.

    Perhaps the fact that the UK has positive relationships in Latin America, the fact that it is a relatively safe, peaceful, democratic region, means the spotlight doesn’t rest on it all that often from here in the UK.

    But I see an open, growing, industrious region of the world, without which this government will find it that much harder to achieve our missions of growth, security and climate action.

    Looking across Latin America, the lesson is clear. Without security, you can’t have growth. And without growth, climate action is impossible.

    As we’ve all said hundreds of times – the first responsibility of every government, the bedrock on which the economy sits, and the ultimate guarantor of everything we hold dear, is security.

    While the focus of our attention is rightly on the wars in Europe and the Middle East, Latin America has led the news twice in recent days here in the UK.

    Extraordinary as that is – and I know because I’ve spoken to them, that Colombia and Panama do not always welcome the reason for this attention – there is a place for Latin American countries in geopolitics now that is changing.

    With attention, I think, being positive, comes opportunity.

    Panama – no longer on the financial services grey list; stable, democratic, and inviting infrastructure investment from the UK. We’re seen as a respectful, trusted partner, and they want to do business with us.

    Latin American countries really do want to work with the UK. They see the long-term value in the tailored offer from the investment and security space. We can be proud of it, but we need to make it easier for countries in Latin America to do business with us.

    And I would like to thank Ecuador particularly at the moment, for their term on the Security Council.

    Because we have so much in common with them as independent nations – we must all stand firm in the face of Russia’s invasion of Ukraine, particularly as Russia turns its sights on Latin America as a key target for disinformation, because we know the truth.

    This illegal and unprovoked war by a Permanent Member of the UN Security Council is a flagrant violation of the UN Charter, and the principles of sovereignty and territorial integrity.

    It makes us all, wherever we are, less safe.

    And with so much strong support for Ukraine from across Latin America. I know you will all be looking forward to hearing from Yaroslav Brisiuck from the Ministry of Foreign Affairs later today – on deepening dialogue and cooperation with Latin America and the Caribbean.

    We are not the only country who sees Latin America’s strategic relevance and weight.

    We know our allies in the US are considering their approach as well. The fact that Secretary Rubio’s first foreign trip is to the region, and that he spoke in his confirmation hearing about the positive relationships as well as the challenges that the US faces there demonstrates the centrality of Latin America for US foreign Policy.

    This is no bad thing. And whilst we will not always agree on the specifics every day of this approach or that, we believe that we must continue to be in close dialogue with the region and the US, to work towards common goals.

    When it comes to China’s engagement in the region, we must understand why so many Latin American countries pursue partnerships with China on development, investment and trade.

    But our job – where we can – is to provide Latin America with a choice. An alternative that many say that they want. Maybe not always cheaper, but better.

    From now on, our approach to China will be consistent – cooperating where we can, competing where we have different interests, and challenging where we must.

    But the most important thing about this, is consistency.

    The schizophrenic posturing doesn’t work.

    It’s about calm, straightforward diplomacy, never ignoring issues where we fundamentally disagree, such as the detention of Jimmy Lai.

    But cooperating where it’s in our interests, especially on climate and growth.

    But we know that sustainable growth can’t happen without security.

    Criminal gangs are multinational. Their power to feed off misery while making billions feeds of weak state institutions, drives corruption, deforestation, drug deaths and sex trafficking.

    They pursue profit at any cost, with little cost to themselves, through the production and trafficking of cocaine and other illegal drugs,  destroying lives, communities, and ecosystems in the process.

    Where organised crime gangs are in competition with the state – this is why our role in supporting the peace process in Colombia… this shows us why, it is so vital.

    Illegal mining, deforestation, and the loss of species, human rights abuses, organised immigration crime, channelling of illicit finance, modern slavery, I could go on.

    The impact is being felt now in Latin America, and on the streets of Britain,
    Most of the world’s cocaine produced in Latin America.  

    It transits through Ecuador, Peru, and Bolivia, before being trafficked via increasingly complex, global routes, entering the UK via European ports.

    But let’s be honest with ourselves about this.

    It is cocaine demand in this country that is fuelling so much misery and insecurity across Latin America.

    A kilo of cocaine was valued at approximately £1,600 – at the start of its journey in Latin America.

    But by the time it reaches the UK, its value leaps by more than 1600% to more than £28,000. And that is one hell of a margin. That’s why this trade is so pervasive.

    We are with working France and the Netherlands and European partners, on joint approaches to tackle maritime cocaine trafficking from Latin America into the UK. And we are working with our partners across the region on this as well.

    This includes £19 million from the UK across six Latin American countries over five years. This is not just about seizures.

    We’re backing our partners’ efforts, following the money, building stronger regional links,  and tackling the flow of illicit finance.

    In Ecuador – we are working with our partners to make sure fewer vulnerable people fall prey to transnational drugs cartels, whether as victims and perpetrators of Serious Organised Crime, as well as working alongside US law enforcement, to conduct regular counternarcotic and other illicit trafficking operations in the Caribbean Sea.

    Talking face to face with the brave, specialist law enforcement teams in Ecuador, Colombia and the Caribbean, it is clear to me just how much they value UK expertise and support. And how much value we can add to their operations, because we listen to their needs, respect their expertise and are partners with them for the long term.

    In Peru, Brazil, Brazil, and Ecuador – we are working together to make financial investigations into mining and logging crimes more effective.

    In Colombia – working with state institutions to improve the enforcement of environmental law is at the heart of our work for forest protection.

    Because we can’t protect a single stick of rainforest. It is regional governments that do that. But we can help them with the tools they need to do the job.

    Access to satellite imagery, intelligence and security co-operation, support with judicial processes, police kit, registration of vehicles. Where we can help, we must.

    The Home Office is working with the courageous Colombian police in Bogotá – as part of their work developing key partnerships to identify and disrupt threats to the UK Border, from illegal migration and the trafficking of drugs.

    Together, we are now using advanced technical equipment, enhanced analytical and detection techniques, and improved intelligence flows – to strengthen border security and our collective ability to detect and prevent the movement of cocaine to the UK and Europe, especially in Brazil, Colombia, Ecuador, Panama and Peru.

    I have also made it my priority in my early months in the job to improve our departmental cooperation with the Home Office, The MoD and the NCA. The new Joint Home Office/FCDO Migration Unit will strengthen the cooperation in Whitehall and our efforts on the Ground.

    The Latin America that hundreds of thousands of UK citizens a year visit today is 660 million people strong and counting – with a combined GDP of nearly $6 trillion.

    And happily, in all my visits to the region as well as our conversations in the UK, our partners across Latin America have made it clear that they share this government’s ambition – to achieve long-term, resilient growth, and bring opportunity to people across our countries.

    This is something we are working together to achieve across a vast range of work.

    In Chile, during my visit at the start of the year, I saw how Anglo-American are introducing innovative, safer, and more responsible mining techniques.

    Extraordinary, as someone who comes from the North East of England, married to the son of Welsh miners, to see a remotely operated mine. Without mining obviously there is no decarbonisation, but this is mining that has been done from the centre of Santiago, out in a mine with nobody underground, nobody’s life at risk. It is really something to behold.

    When I travelled to President Sheinbaum’s inauguration, in Mexico we signed a new Memorandum of Understanding with the Mexican Ministry for Agriculture and Rural Development – which will boost trade, advance sustainable agriculture, and renew our partnership.

    And at the end of last year,  the UK became the first European nation to accede to the growing Indo-Pacific trade bloc, the Trans-Pacific Partnership, or ‘CPTPP’, joining Chile, Mexico, and Peru.

    This makes our collective GDP £12 trillion, means zero tariffs for more than 90% of exports between members, and opens up market opportunities across three continents.

    And building on the four agreements with the region we already have – this does represent a huge opportunity for businesses.

    Of course, none of this is possible if the bigger picture is not in place – which bring me to peace and democracy.

    Latin America is now home to many stable democracies – we share so many values.

    And we are working together to uphold human rights, and the rule of law, across the region and at the UN.

    When it comes to the Falkland Islands, our position is steadfast, and our commitment to defending the Falkland Islanders’ right of self-determination will not waiver.

    Only the Falkland Islanders can and should decide their own future.

    This approach underpins the South Atlantic cooperation agreement with Argentina – announced by the Foreign Secretary and former Argentine Foreign Minister Diana Mondino, last September.

    We are grateful for our work in partnership and our dialogue on these issues with Argentina.

    When it comes to Colombia, this government will  advocate for implementation of the 2016 peace  agreement, as a priority.

    We have learned ourselves, through Northern Ireland, that no piece of paper achieves peace. It’s that consistent work of decades by political and community leaders that keeps peace. Peace is hard, requires constant vigilance, but the UK is with Colombia, for the long term, of this journey.

    But the impact of Venezuela’s catastrophic leadership is being felt across the region.

    That is why the UK sanctioned 15 new members of Nicolas Maduro’s regime, who are responsible for undermining democracy, and committing serious human rights abuses – on 10 January, the same day he asserted power illegitimately in Venezuela once again.

    And at a time where we know that you’re all worried about the wider impacts of the abhorrent violence in Haiti, as well as providing £28 million a year to the multilateral institutions still operating on the ground to support the population,  we are providing £5 million to the Kenyan-led Multinational Security Support Mission – working to bring about the stability that is so desperately needed, to pave the way for free and fair elections.

    However far away that prospect feels today, we must never give up hope.

    No country can do right by its citizens, or play its part in the world, when people live in fear and without hope.

    Our determination to tackle climate change and biodiversity loss binds us together. The region is home to so many of the natural assets on which our global prosperity depends.

    A quarter of the world’s tropical rainforest, including the mighty Amazon, and massive deposits of the metals and minerals we all need to make a leap to clean energy.

    The government welcomes the strong leadership we’re seeing from within the region. Building on generations of care led by indigenous people, and decades of pioneering innovation.

    We’re working together with Brazil, to make the next big climate summit in Belém a success, and I’m delighted that Brazil and Chile are working with us through the finance mission of the new Global Clean Power Alliance that the Prime Minister launched at the G20 in Rio with President Lula last year.

    When it comes to minerals that are critical to the transition away from fossil fuels, and toward clean energy, including two thirds of the world’s lithium, the reserves that we need for batteries, Latin America has the resources, and the UK holds the markets and the institutions.

    So we’re working together – across government in the UK and with businesses, and with partners across the region – to take a strategic approach to deliver more diversified and secure supply chains, while raising standards, and mining more responsibly.

    So to close I just want to thank RUSI for making it a priority to bring us together to discuss how the UK, Latin America and our wider partners and allies can work together even more effectively for our shared security and prosperity.

    I’ve sensed a real appetite for this from our partners across the region, but I want all of us here in the UK to be ambitious about what is possible when we work with Latin America.

    And I want us all to recognise the importance of Latin American leadership in changing what is possible at a global level as well, on the challenges and opportunities we face.

    Sure – this government here can improve our economy, we can do better on our security, and our borders, we can do our bit to reduce carbon emissions and support work against climate change.

    We can do that without changing our approach to Latin America. But how much better, and how much more successful, and how much more secure any gains we make will be if we work alongside our partners, our allies in Latin America, now and in the years ahead.

    Thank you.

    Updates to this page

    Published 30 January 2025

    MIL OSI United Kingdom –

    January 31, 2025
  • MIL-OSI United Kingdom: Foundation works start for new look Bilston Outdoor Market

    Source: City of Wolverhampton

    Following the traders’ temporary relocation, the site has undergone comprehensive surveys, asbestos remediation, mine investigation and grouting, and demolition of the existing market stalls and public toilet block.

    Midlands based contractor, Speller Metcalfe, has this week started works to create the slab foundation for the new £5.2 million market – funded by UK Government.

    The redevelopment scheme is also part of the Bilston Health & Regeneration Programme (HaRP), with investment set to maximise the visibility of the market and improve the pedestrian access from the neighbouring bus/metro station.

    Some of the existing structures have been demolished to make way for a new facility to suit current and future requirements, while reconfiguring the existing uses and enhancing the entrance’s focal points to the indoor market. There will also be a flexible multi use events/market space created.

    Other improvements will include a full package of new signage, a complete renewal of all trader car parks and provision of a new taxi drop off adjacent to the existing bus/metro interchange, improved landscaping of public spaces, the introduction of new retail units and public toilets, and a taller canopy to cover the stalls.

    The Indoor Market remains open as usual during the works, while outdoor traders are temporarily based at Bert Turner Boulevard/High Street/Church Street, with opening days and times remaining the same: 8am to 3pm on Mondays, Thursdays, Fridays and Saturdays and 7am to 1.30pm for the Bilston Sunday Market and Car Boot.

    Councillor Bhupinder Gakhal, City of Wolverhampton Council Cabinet Member for Resident Services, said: “It is good to see the project moving towards the main works with the foundations going down and we will soon see our fantastic new look market emerging from the ground.

    “We had good feedback from traders and residents throughout the consultation on this scheme and have developed attractive plans that will enhance Bilston market for everyone.

    “While the improvement works are taking place, I would urge visitors to get along to the indoor market and temporary outdoor market and continue to support their local traders.

    “It is important for our traditional local centres to flourish, and this scheme builds substantially on the investment already made in Bilston in recent years.”

    Rob Lashford, Director at Speller Metcalfe, said: “We’re pleased to be making headway on the redevelopment of Bilston Outdoor Market which is set to improve the market space for the local community and traders. We look forward to seeing how the enhancement works transform Bilston.”

    MIL OSI United Kingdom –

    January 31, 2025
  • MIL-OSI Europe: Trump 2.0: the rise of an “anti-elite” elite in US politics

    Source: Universities – Science Po in English

    US president Donald Trump is surrounded by a new cohort of politicians and officials. While one of his campaign promises was to overthrow the “corrupt elites” he accuses of flooding the American political arena, his second term in office has elevated elites chosen, above all, for their political loyalty to him. Does his second term open the door to elites who can operate without concern for justice and truth?

    An article by William Genieys, CNRS Research Director at the Centre for European Studies and Comparative Politics (CEE) at Sciences Po, and Mohammad-Saïd Darviche, Senior Lecturer at the University of Montpellier, originally published by our partner The Conversation.


    The media’s focus on Trump’s comments on making Canada the 51st US state and annexing Greenland and billionaire Elon Musk’s support for some far-right parties in Europe has obscured the ambitious programme to transform the federal government that the new political elite intends to implement.

    In the wake of Trump’s inauguration on January 20, the Republican elites most loyal to the MAGA (“Make America Great Again”) leader, who staunchly oppose Democratic elites and their policies, are operating amid their party’s control over the executive and legislative branches (at least until the midterm elections in 2026), a conservative-dominated Supreme Court that includes three Trump-appointed justices, and a federal judiciary that shifted right during his first term.

    However, the political project of the Trumpist camp consists less of challenging elitism in general than attacking a specific elite: one particular to liberal democracies.

    Castigating democratic elitism

    Typical anti-elite political propaganda, along the lines of “I speak for you, the people, against the elites who betray and deceive you,” claims that a populist leader would be able to exercise power for and on behalf of the people without the mediation of an elite disconnected from their needs.

    Political theorist John Higley sees behind this form of anti-elite discourse an association between so-called “forceful leaders” and “leonine elites” (who take advantage of the former and their political success): a phenomenon that threatens the future of Western democracies.

    Since the Second World War, there has been a consensus in US politics on the idea of democratic elitism. According to this principle, elitist mediation is inevitable in mass democracies and must be based on two criteria: respect for the results of elections (which must be free and competitive); and the relative autonomy of political institutions.

    The challenge to this consensus has been growing since the 1990s with the increased polarization of American politics. It gained new momentum during and after the 2016 presidential campaign, which was marked by anti-elite rhetoric from both Republicans and Democrats (such as senators Bernie Sanders and Elizabeth Warren). At the heart of some of their diatribes was an aversion to “the Establishment” on the east and west coasts of the United States, where many prestigious financial, political and academic institutions are based, and the conspiracy notion of the “deep state”.

    The re-election of Trump, who has never admitted defeat in the 2020 presidential vote, growing political hostility and the direct involvement of tech tycoons in political communication –especially on the Republican side– further reinforce the denial of democratic elitism.

    Trump’s populism from above: a revolt of the elites

    The idea that democracy could be betrayed by “the revolt of the elites”, put forward by the US historian Christopher Lasch (1932-1994), is not new. For the anthropologist Arjun Appadurai, it is a particular feature of contemporary populism, which comes “from above.” Indeed, if the 20th century was the era of the “revolt of the masses”, the 21st century, according to Appadurai, “is characterized by the ‘revolt of the elites’.” This would explain the rise of populist autocracies (such as those currently led by Viktor Orban in Hungary, Recep Tayyip Erdogan in Turkey and Narendra Modi in India, and formerly led by Jair Bolsonaro in Brazil), but also the election successes of populist leaders in consolidated democracies (including those of Trump in the US, Giorgia Meloni in Italy, and Geert Wilders in the Netherlands, for example).

    As Appadurai explains, the success of Trumpian populism, which represents a revolt by ordinary Americans against the elites, casts a veil over the fact that, following Trump’s victory in November, “it is a new elite that has ousted from power the despised Democratic elite that had occupied the White House for nearly four years.”

    The aim of this “alter elite” is to replace the “regular” Democrat elites, but also the moderate Republicans, by deeply discrediting their values (such as liberalism and so-called “wokeism”) and their supposedly corrupt political practices. As a result, this populism “from above” carried out by the President’s supporters constitutes an alternative elite configuration, the effects of which on American democratic life could be more significant than those observed during Trump’s first term.

    Beyond the idea of a ‘Muskoligarchy’

    The idea that we are witnessing the formation of a “Muskoligarchy” –in other words, an economic elite (including tech barons such as Jeff Bezos, Mark Zuckerberg and Marc Andreessen) rallying around the figurehead of Elon Musk, whom Trump asked to lead what the president has called a “Department of Government Efficiency” (DOGE) –is seductive. It perfectly combines the vision of an alliance between a “conspiratorial, coherent, conscious” ruling class and an oligarchy made up of the “ultra-rich”. For the Financial Times columnist Martin Wolf, it is even a sign of the development of “pluto-populism”. (It is also worth noting that former president Joe Biden, in his farewell speech, referred to “an oligarchy… of extreme wealth” and “the potential rise of a tech-industrial complex.”)

    However, some observers are cautious about the advent of a “Muskoligarchy.” They point to the sociological eclecticism of the new Trumpian elite, whose facade of unity is held together above all by a political loyalty, for the time being unfailing, to the MAGA leader. The fact remains, however, that the various factions of this new “anti-elite” elite are converging around a common agenda: to rid the federal government of the supposed stranglehold of Democratic “insiders.”

    An ‘anti-elite’ elite against the ‘deep state’

    In his presidential inauguration speech in 1981, Ronald Reagan said: “Government is not the solution to our problem; government is the problem.” The anti-elitism of the Trump elite is inspired by this diagnosis, and defends a simple political programme: rid democracy of the “deep state.”

    Although the idea that the US is “beleaguered” by an “unelected and unaccountable elite” and “insiders” who subvert the general interest has been shown to be unfounded, it is nonetheless predominant in the new Trump Administration.

    This conspiracy theory has been taken to the extreme by Kash Patel, the candidate being considered to head the FBI. In his book, Government Gangsters, a veritable manifesto against the federal administration, the former lawyer writes about the need to resort to “purges” in order to bring elite Democrats to justice. He lists around 60 people, including Biden, ex-secretary of state Hillary Clinton and ex-vice president Kamala Harris.

    The appointment of Russell Vought as head of the Office of Management and Budget at the White House, a person who is known for having sought to obstruct the transition to the Biden Administration in 2021, also highlights the hard turn that the Trump administration is likely to take.

    Reshaping the state around political loyalty

    To “deconstruct the administrative state”, the “anti-elite” elites are relying on Project 2025, a 900-plus page programme report that the conservative think-tank The Heritage Foundation, which published it, says was produced by “more than 400 scholars and policy experts.” According to former Project 2025 director Paul Dans, “never before has the entire movement… banded together to construct a comprehensive plan” for this purpose. On this basis, the “anti-elite” elite want to impose loyalty to Project 2025 on federal civil servants.

    But this idea is not new. At the end of his first term, Trump issued an executive order facilitating the dismissal of statutory federal civil servants occupying “policy-related positions” and considered to be “disloyal”. The decree was rescinded by president Biden, but Trump on his first day back in office signed an executive order that seeks to void Biden’s rescindment. As President, Trump is also able to allocate senior positions within the federal administration to his supporters.

    The “anti-elite” elite not only want to reduce the size of the state, as was the case under Reagan’s “neoliberalism”, but to deconstruct and rebuild it in their own image. Their real aim is a more lasting victory: the transformation of democratic elitism into populist elitism.

    MIL OSI Europe News –

    January 31, 2025
  • MIL-OSI Asia-Pac: Speech by CE at 2025 Hong Kong Chinese New Year Fireworks Display (with photos)

    Source: Hong Kong Government special administrative region

         â€‹Following is the speech by the Chief Executive, Mr John Lee, at the 2025 Hong Kong Chinese New Year Fireworks Display today (January 30):

    王冬�主席(香港上海滙�銀行有�公�主席)�廖宜建行政總�(香港上海滙�銀行有�公�亞太��席行政總�)���嘉賓���朋�:

         å¤§å®¶æ–°å¹´å¥½ï¼�今日是乙巳蛇年的大年åˆ�二,我首先在此å�‘大家ç¥�ç¦�,蛇年身體å�¥åº·ï¼Œèº«å£¯åŠ›å�¥ï¼Œå¿ƒæƒ³äº‹æˆ�。

         å¤§å¹´åˆ�二的煙花匯演,是香港æ¯�年賀歲活動的é‡�頭戲。全港市民和來自海內外的旅客,都å�¯ä»¥è§€è³žåœ¨ç¶­æ¸¯é†‰äººå¤œæ™¯çš„襯托下,絢麗多彩ã€�璀璨奪目的煙花。

         ä»Šå¹´çš„賀歲煙花別開生é�¢ï¼Œå°‡å‘ˆç�¾å¤§ç†Šè²“的圖案,與所有觀眾分享香港大熊貓家庭共六ä½�æˆ�員的喜悅。相信大家都留æ„�到,香港æ¯�年的新春煙花都有ä¸�å�Œçš„æ–°å…ƒç´ ï¼Œç‚ºç¶­æ¸¯ä¸Šç©ºå¸¶ä¾†æ–°çš„璀璨,就如é�ˆè›‡è±¡å¾µçš„é�ˆæ´»è®Šé€šï¼Œèˆ‡é¦™æ¸¯äººé�ˆæ´»æ‡‰è®Šã€�創新求進的精神互相è¼�映。

         æ–°çš„一年,特å�€æ”¿åºœæœƒç¹¼çºŒæŽ¨å‹•香港變é�©å‰µæ–°ï¼Œé�ˆæ´»æ‡‰å°�å�„種挑戰和機é�‡ï¼Œç¹¼çºŒç™¼æ�®ã€Œä¸€åœ‹å…©åˆ¶ã€�çš„ç�¨ç‰¹å„ªå‹¢ï¼ŒåŠ å¼·å…§è�¯å¤–通的工作,讓香港在國際舞å�°ä¸Šä¸�斷大放異彩。

         æˆ‘知é�“維港兩岸數å��è�¬è¨ˆçš„市民和旅客,都很期待今晚的煙花匯演,希望大家好好享å�—這個晚上。我在此感è¬�今年æˆ�ç«‹160周年的香港上海滙è±�銀行,贊助今晚的煙花匯演,為這個喜慶的節日帶來更多歡樂。

         æˆ‘ç¥�願國家富強昌盛,香港ç¹�榮興旺,市民事事如æ„�。接ç�€æˆ‘用英語來歡迎來自ä¸�å�Œåœ°æ–¹çš„æœ‹å�‹ã€‚

         I’m delighted to join you at this fireworks extravaganza. Last night, we welcomed the Year of the Snake with a night parade. Tonight, we cheer it on with a fabulous fireworks show.

         Hong Kong, our vibrant city, is shining brighter than ever with its unique blend of Eastern and Western cultures. As we marvel with and over the dazzling pyrotechnics lighting up the skies above Victoria Harbour, let’s remember that the display is more than a cheering spectacle – more importantly, every burst of colour celebrates the diversity and soaring promise of our home.

         The snake symbolises wisdom, resilience and renewal in Chinese culture. Hong Kong has long thrived on its dynamic spirit and adaptability, endlessly mingling tradition and innovation. In the Year of the Snake, Hong Kong will revitalise its strengths and boundless future. 

         I invite you all to enjoy what Hong Kong has to offer in the Year of the Snake. Alongside magnificent mega events such as this evening’s, our city never fails to delight in its thriving wine and dine scene, breath-taking natural scenery, East-meets-West arts and cultural bounty, world-class sports and non-stop entertainment.

         My thanks to HSBC for sponsoring tonight’s fireworks display. HSBC celebrates its 160th anniversary this year. My warmest congratulations on your most meaningful anniversary!

         I wish you all a very healthy and successful Year of the Snake. Enjoy the show, as we look forward to an even brighter tomorrow. 

         ç¥�願å�„ä½�蛇年進步,心想事æˆ�,大家共å�Œåœ¨é€™å€‹æ­¡æ¨‚的春節氣氛è£�欣賞我們今晚璀璨的煙花。多è¬�大家ï¼�      

    MIL OSI Asia Pacific News –

    January 31, 2025
  • MIL-OSI USA: FEMA Urges Georgians to Apply for Assistance Despite Concerns About Homeowners’ Insurance

    Source: US Federal Emergency Management Agency 2

    f you were affected by Tropical Storm Debby (Aug. 4—20, 2024) or Hurricane Helene (Sept. 24—Oct. 30, 2024) and have an active insurance policy, state and FEMA officials urge you to check with both your insurance company and FEMA to help you on your road to recovery. 
    You do not need to have insurance to qualify for FEMA assistance and should not wait to submit your FEMA application. While FEMA assistance can only help with losses not covered by insurance, the assistance may help provide additional coverage for losses caused by Tropical Storm Debby or Hurricane Helene.
    If you do have an active insurance policy, you are urged to apply with FEMA because you may be eligible for disaster assistance for basic home repairs, personal property losses and other disaster-caused expenses that insurance didn’t cover. While you do not have to file an insurance claim before applying for FEMA disaster assistance, you will be required to provide FEMA with documentation regarding your insurance settlement or denial of your claim before being considered for certain types of assistance. Also, if your insurance benefits are delayed, FEMA can provide assistance to meet your immediate needs.
    While some survivors are likely concerned about the impact filing a claim may have on increasing their premiums, people affected by either or both of the storms should talk with their insurance agent to understand their deductible and associated out-of-pocket expenses to determine whether it makes sense to file a claim. 
    In many instances, damage may fall below the policy deductible or otherwise not be covered by the policy. Insurance companies are encouraged to provide documentation necessary for their customers to apply for FEMA assistance for uncovered losses.
    If you feel your insurance settlement is insufficient to cover the damage, you may be able to use the free Disaster Legal Assistance to help appeal your claim with your insurance. Georgia residents can use this service to receive confidential, free legal assistance due to the disasters, who do not have the money to hire adequate legal services. If you are interested in receiving this legal assistance, call the toll-free legal hotline at 866-584-8027 or 404-527-8793.
    If you are in one of the 63 affected counties designated for Individual Assistance, you are eligible to apply for FEMA disaster assistance. You can apply online at DisasterAssistance.gov. You can also apply using the FEMA App for mobile devices or by calling toll-free 800-621-3362. The telephone line is open every day and help is available in most languages. You can also contact the Georgia Call Center at 678-547-2861 Monday through Saturday for assistance with your application.
    To view an accessible video on how to apply, visit Three Ways to Apply for FEMA Disaster Assistance – YouTube.
    For the latest information about Georgia’s recovery, visit fema.gov/helene/georgia. Follow FEMA Region 4 @FEMARegion4 on X or follow FEMA on social media at: FEMA Blog on fema.gov, @FEMA or @FEMAEspanol on X, FEMA or FEMA Espanol on Facebook, @FEMA on Instagram, and via FEMA YouTube channel. Also, follow Acting Administrator Cameron Hamilton on X @FEMA_Cam.
    ###
    FEMA’s mission is helping people before, during and after disasters.

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI USA: A Congress.gov Interview with Lindsay Gibmeyer, the US Senate Bill Clerk

    Source: US Global Legal Monitor

    Today’s blog post is a Congress.gov interview with Lindsay Gibmeyer, a bill clerk at the United States Senate. 

    1. Describe your background

    I grew up on the Eastern Shore of Maryland, so close geographically, but in stark contrast to the hustle and bustle of the city. I attended the University of Texas at Dallas and later, missing Maryland’s famous blue crabs, finished my undergraduate studies at the University of Maryland College Park. My first job on the Hill was in the Senate Bill Clerk’s office as an assistant bill clerk. Coming from a background in social science research, I was all about data and had very limited legislative process knowledge. Luckily, I landed in one of the best spots possible to hit the ground running with a front-row seat to the legislative process. I really owe all of my success to my fellow colleagues who are wonderful resources with a wealth of institutional knowledge.

    2. How would you describe your job to other people?

    I have heard this role described as the nervous system of the Senate. We are part of the non-partisan team who have a hand in all legislative material from the Senate and messaging between the houses. Nearly everything travels through our office at one point or another and is processed and made available to the public the next day via the Congressional Record and Congress.gov.

    3. What is your role in the development of Congress.gov?

    Soon after I began my Senate career, the transition from Thomas.gov and LIS was beginning to move forward. There were concerns with representing our data in an accurate manner and combining two sites—one user-friendly public-facing and one more centered around Congressional needs—was not an easy task. The Bill Clerk’s office was asked to provide testing and functionality feedback, from a “power user” point of view, a fancy way of saying we use and depend on Congress.gov a lot!
    My role in the project was to provide feedback specifically from our office’s point of view and help shape how our data is presented to the public. I was really excited about this project because of my previous data management background, and I found it familiar to review how the data was carried via XML files. I was also available to help explain how we process floor actions and data entry. Together with a lot of great collaboration with our Library of Congress and LIS partners, we have the present-day, multi-audience Congress.gov.

    4. What is your favorite feature of Congress.gov?

    I really like one of the newer features of Congress.gov where the Congressional Record links to the legislation. As a daily user, it is nice to quickly access the online record via the All Actions tab and pull up either the floor action or the text of the measure. This is especially useful for staff or the public to find the full text of legislation or amendments the day after submission.

    5. What is the most interesting fact you’ve learned about the legislative process while working for Congress?

    As the Bill Clerk, I think one of the most interesting facts about the legislative process is the many paths a bill can take before it becomes law. Bills can be referred to a committee, or fast-tracked through various paths for quicker floor consideration—which can sometimes take the agreement of all 100 members—not an easy feat! We have recently reached record highs in the number of introduced bills in the Senate at 5400 + and counting and that is not including House bills. A very small percentage of those measures become law. At last count, there were 224 public laws during the 118th Congress.

    6. What’s something most of your co-workers do not know about you?

    Not a well-kept secret—my family is obsessed with Golden Retrievers! Here are our three rescue Goldens (Alexander, Hamilton, and Rosie).

    Lindsay’s rescued golden retrievers: Alexander, Hamilton, and Rosie. Picture courtesy of Lindsay Gibmeyer.

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI Africa: Land seizure and South Africa’s new expropriation bill: scholar weighs up the new act

    Source: The Conversation – Africa – By Zsa-Zsa Temmers Boggenpoel, Academic, Stellenbosch University

    South Africa has a new law to govern the expropriation (or compulsory acquisition) of private property by government for public purposes or in the public interest.

    The passing of the Expropriation Act 13 of 2024 followed a parliamentary process that began in 2020.

    The act repeals the apartheid-era Expropriation Act 63 of 1975, and aims to align expropriation law with the constitution. It sets out the procedures, rules and regulations for expropriation. Besides setting out in quite a detailed fashion how expropriations are to take place, the act also provides an outline regarding how compensation is to be determined.

    In South Africa’s colonial and apartheid past, land distribution was grossly unequal on the basis of race. The country is still suffering the effects of this. So expropriation of property is a potential tool to reduce land inequality. This has become a matter of increasing urgency. South Africans have expressed impatience with the slow pace of land reform.

    Property rights and land reform

    There is much debate in the country about the provisions of the new act. The debate is mostly about the extent to which it affects existing private property rights. Some argue the act is unconstitutional. Others welcome it as a necessary step in the right direction.

    I’m a professor of law with a keen interest in this area of the law, and recently edited a book on land expropriation in South Africa by leading experts. My view is that an expropriation act that is aligned with the constitution should be welcomed, to enable land reform to work effectively.


    Read more: Land reform in South Africa: what the real debate should be about


    Land reform also needs a capable and proactive state that implements the legal framework in such a manner that prioritises expropriation as a mechanism to ensure land reform.

    So far, expropriation has not been used effectively to redistribute land more equitably, as part of land reform.

    I am not convinced that the act, in its current form, is the silver bullet to effect large-scale land reform – at least not the type of radical land reform that South Africa urgently needs.

    Understandably, the act will have a severe impact on property rights. But it still substantially protects landowners affected by expropriation. Only in very limited cases would they not be compensated.

    Protections for land owners

    The act says that property must not be expropriated arbitrarily or for a purpose other than a public purpose or in the public interest.

    Public purpose means by or for the benefit of the public. For example, expropriating property to build roads, schools and hospitals. Public interest is broader and includes the nation’s commitment to land reform.

    “Arbitrary” would usually mean without reason or justification.


    Read more: South Africa has another go at an expropriation law. What it’s all about


    The act further requires that an expropriating authority – an organ of state or person empowered by the act or any other legislation – must first try to reach an agreement with the owner to acquire the property on reasonable terms before considering expropriation.

    This gives some power to a landowner, even though expropriation does not normally require consent. The act also says a specific expropriation must always be authorised by a law.

    No compensation?

    Section 12 of the act deals with compensation for expropriation. It is arguably the most controversial part of the new legislation. Section 12(1) does not appear to be problematic and is largely the same wording as section 25(3) of the constitution. This part of the property clause sets out what must be taken into account when compensation for expropriation is determined.

    Section 12(3) of the act refers to “nil compensation” – when nil rand (monetary) compensation may be paid. There is no explicit reference to nil compensation in the current wording of section 25 of the constitution. It’s a new thing in the Expropriation Act.

    However, courts have toyed with the idea that section 25 of the constitution already provides room for a reduction in compensation.

    The circumstances in which nil compensation could be granted in terms of the new act are in fact very limited. Section 12(3) leaves the discretion to the expropriating authority to determine when it may be just and equitable to pay nil compensation. However, the act lacks guidelines on how such a discretion must be exercised.


    Read more: Land is a heated issue in South Africa – the print media are presenting only one side of the story


    The scope of section 12(3) is also limited in some respects. For one, it is restricted to land. Only where land is expropriated would nil compensation be an option. Therefore, not all forms of property can be expropriated without compensation. The notion of property under section 25(1) of the constitution is generally wide and includes various rights and interests, which are broader than just land. For instance, personal rights, mineral rights and licences are included under the section 25(1) notion of property.

    This wide understanding of property is not applicable to section 12(3), which refers to “land” being expropriated.

    Section 12(3) is also limited to the expropriation of land “in the public interest”. Nil compensation is therefore envisaged only in the context of expropriation of land undertaken in the public interest, and not also for a public purpose.

    Three of the four categories listed in section 12(3), where nil compensation is envisaged, are linked to the way in which the property was being used prior to the expropriation. Land used in a productive manner is therefore not evidently envisaged under section 12(3).

    Nil compensation is not necessarily limited to the instances listed. Still, the amount of compensation must – in all instances – be just and equitable.

    Novel approach

    The act forces South Africans to engage with the idea of nil compensation in a much more direct manner.

    The presence of a clause dedicated to nil compensation provides new clarity on when this could apply.

    It is hard to determine whether this act will pass constitutional muster without seeing how expropriation under it will work in practice. It remains to be seen whether it will have the far-reaching consequences that many fear, or call for.

    – Land seizure and South Africa’s new expropriation bill: scholar weighs up the new act
    – https://theconversation.com/land-seizure-and-south-africas-new-expropriation-bill-scholar-weighs-up-the-new-act-244697

    MIL OSI Africa –

    January 31, 2025
  • MIL-OSI Africa: Driving Africa’s Sports Future: Meet the Partners Powering the Sports Africa Investment Summit (SAIS25)

    Source: Africa Press Organisation – English (2) – Report:

    LAGOS, Nigeria, January 30, 2025/APO Group/ —

    The Sports Africa Investment Summit (SAIS25) is more than an event—it’s a movement to unlock Africa’s potential by investing in sports infrastructure for a sustainable future. This mission wouldn’t be possible without the support of visionary partners committed to driving innovation, policy development, and investment in Africa’s sports industry.

    Meet the Partners

    Afreximbank – A leading financial institution fostering trade and development across Africa, Afreximbank brings its expertise in funding large-scale projects, making it a key player in sports infrastructure financing.

    Bank of Industry (BOI) – As Nigeria’s leading development finance institution, BOI plays a critical role in driving local economic growth. Through strategic financing, BOI is supporting the expansion of Nigeria’s sports sector, creating opportunities for businesses and communities to thrive.

    International Centre for Sport Security (ICSS) – A global leader in sport integrity, ICSS works across continents to promote safety, transparency, and governance in sports. Their partnership with SAIS25 reinforces the need for robust security frameworks that protect investments and ensure the long-term sustainability of Africa’s sports ecosystem.

    UN Global Compact Network Nigeria – Championing responsible business practices, this network is instrumental in promoting sustainability within sports investments, ensuring that SAIS25 initiatives align with global environmental, social, and governance (ESG) standards.

    NESH Foundation – With a focus on Nigerian entrepreneurship, NESH plays a vital role in connecting sports investment with local economic empowerment, creating opportunities for homegrown businesses to thrive.

    Nigerian Economic Summit Group (NESG) – As a Nigerian policy think tank, NESG drives economic transformation by shaping investment-friendly policies across multiple sectors, including sports. Their expertise in fostering collaboration between governments, private sector players, and investors positions them as a key advocate for a sustainable and profitable sports industry across Africa.

    Why This Matters

    The collective efforts of these esteemed partners underscore SAIS25’s mission: to transform Africa’s sports sector through strategic investments, infrastructure development, and policies that foster long-term sustainability.

    As SAIS25 approaches on February 17-18, 2025, in Lagos, we invite investors, policymakers, industry leaders, athletes, sports talent managers, sports merchandisers, fans and enthusiasts to join us in shaping the future of African sports.

    Register now at https://apo-opa.co/4gjbCZg and be part of the conversation.

    MIL OSI Africa –

    January 31, 2025
  • MIL-OSI Global: Why Trump’s meme coin is a cash grab

    Source: The Conversation – USA – By Maximilian Brichta, Doctoral Student of Communication, University of Southern California

    The Trump meme coin has already attracted over a half-million buyers. Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images

    Three days before his presidential inauguration, Donald Trump launched a meme coin, a type of cryptocurrency whose value is buoyed by social media and internet culture, rather than any sort of functionality or intrinsic value.

    The coin – officially called $Trump – briefly ascended into the top 15 cryptocurrencies by market capitalization and attracted over a half-million buyers.

    Referencing the coin in a news conference on Jan. 21, 2025, a reporter asked Trump if he intended to continue selling products that benefited him personally while being president.

    “You made a lot of money [on $Trump], sir,” he told Trump, who seemed oblivious to its meteoric rise in value.

    “How much?” Trump asked.

    “Several billion dollars, it seems like, in the last couple days.”

    Donald Trump is asked about the successful launch of his new meme coin.

    Over the following week, various publications claimed the meme coin had “ballooned [Trump’s] net worth” making him a “crypto billionaire.”

    While it’s true that Trump stands to benefit handsomely from the meme coin and his other crypto ventures, the claims of Trump himself earning billions off it are overblown.

    Funny money or filch?

    Meme coins became popular in 2013 with the launch of Dogecoin, which its creators intended as a joke, spoofing the many other seemingly useless cryptocurrencies that were popping up at the time. It was never supposed to be a popular investment. The creators even attempted to make it as undesirable as possible to ensure it wouldn’t.

    Twelve years later, it remains in the top 10 cryptocurrencies and has inspired thousands of other meme coins to launch.

    In 2025, it’s cheaper and easier than ever to launch and trade these tokens.

    For example, all it takes to create a new coin on the website Pump.fun is a name, ticker symbol, description, image and the equivalent of roughly US$5 worth of cryptocurrency.

    Moonshot, the crypto exchange that Trump’s meme coin website routes interested buyers to, allows users to sign up in as little as 10 minutes. They’re then able to purchase the Trump coin and a slew of other meme coins.

    The vast majority of meme coins launched are dubious. Many are outright scams. For instance, in August 2024 the Instagram account of McDonald’s was hacked to advertise a meme coin named $Grimace in a nod to the fast-food chain’s purple mascot. After artificially inflating the price of the coin, the creators cashed out close to $700,000.

    There are countless other scam coins that fly under the radar using the same dynamic: generate hype, pump the price and dump on investors.

    Looking under the hood

    So how much might Trump and his associates actually benefit from his new meme coin and, more broadly, the “free-for-all” attitude his administration is taking toward the crypto industry?

    I study the gray area between participation and exploitation in crypto markets, and I dug deeper into the Trump meme coin.

    One way to assess whether a meme coin offering is a scam is to look at its “tokenomics” – that is, the predetermined number of units of its supply, how that supply is distributed and how much of it the creator gets to keep. The higher the percentage of the supply allocated to the creators, the more they can sell for profit. As media studies scholar Lana Swartz points out, creator tokens were originally intended for developers to crowdfund their startups. But with meme coins – which typically don’t claim to build anything – they exist to enrich their creators and, potentially, fund continued marketing of the coin.

    Unlike Dogecoin, which took a “fair launch” approach – meaning that its creators didn’t allocate a portion of the initial coins to themselves before allowing others to trade it – the majority of Trump tokens are allocated to its creators on a three-year-long distribution schedule.

    In fact, 80% of the coin supply will be distributed to the coin’s creators over the course of three years. In other words, the tokenomics of the Trump meme coin are set up so that its creators can slowly sell off their large supply without drastically manipulating its price. Rather than quickly pulling the rug from under investors’ feet, they can do it slowly.

    None of this is hidden information – the tokenomics of the Trump meme coin are featured prominently on the coin’s website.

    Notably, none of the people behind the coin will begin receiving portions of the supply until March 2025. The amount of profit they can reap will be based on future prices. At the time of this writing, the Trump meme coin was down roughly 60% from its peak.

    Who are these creators anyway? The various layers of limited liability companies behind the project, listed in fine print on the $Trump meme website, obscure which individuals stand to benefit.

    Presuming Trump is one of these creators, the president technically doesn’t have an allotment of the supply to cash out – not until March, at least.

    So, no, Trump didn’t make billions from the coin. But he still stands to potentially vacuum up millions of dollars from unwitting investors. Judging by the spike in crypto exchange downloads over the weekend of the Trump coin’s launch, it attracted many new, and likely novice, speculators. Coins like this, which can significantly devalue in a matter of hours, can be distressing introductions to the world of investing.

    This isn’t the first time Trump has tried to make a killing on crypto, either. He’s already brought in millions off the sales of five nonfungible token launches – which are essentially digital trading cards – since 2022.

    Have fun!

    The final words in Trump’s meme coin announcement on his social media platform Truth Social sum up his administration’s attitude toward the crypto industry over the next four years: “Have fun!”

    On Jan. 23, Trump signed an executive order containing a slew of decrees aimed at making the U.S. the “crypto capital of the world.”

    He has tapped venture capitalist David Sacks to chair the group tasked with reworking the prohibitive regulations around the crypto industry. Sacks has invested in crypto-focused companies and has bragged about his personal crypto investments on his podcast.

    In a recent Fox Business interview, Sacks was asked if he thought Trump’s meme coin was a conflict of interest. He said no, suggesting that the coins should be thought of as “collectibles” akin to “a baseball card or a stamp.”

    David Sacks, Donald Trump’s crypto czar, sees little issue with Trump’s crypto investments.

    Notably, the $Trump website also refers to the tokens as “cards” and “memes,” rather than coins. This could be an attempt to skirt legal trouble: It frames them as tokens of mere amusement rather than serious investment vehicles with expectations of profit.

    Nonetheless, several members of Congress have already called for a probe into the Trump meme coin.

    No matter how you define $Trump, one thing remains clear: The structure of the coin is set up to siphon money out of retail investors for at least the next three years. Sure, ordinary speculators can still profit off it, so long as its value remains propped up. That’s basically a gamble.

    With Trump starting to accumulate a stockpile of various cryptocurrencies through his other venture, World Liberty Financial, he could also benefit immensely from a looser regulatory environment.

    Fun indeed.

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

    – ref. Why Trump’s meme coin is a cash grab – https://theconversation.com/why-trumps-meme-coin-is-a-cash-grab-248215

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: ‘We painted our fear, hope and dreams’ − examining the art and artists of Guantánamo Bay

    Source: The Conversation – USA – By Alexandra Moore, Professor of Human Rights in Literary and Cultural Studies, Binghamton University, State University of New York

    Sailing ships are a common feature of Moath al-Alwi’s art. Moath al-Alwi, 2016, CC BY-SA

    When Moath al-Alwi left Guantánamo Bay for resettlement in Oman, accompanying him on his journey was a cache of artwork he created during more than two decades of detention.

    Al-Alwi was detainee number “028” – an indication that he was one of the first to arrive at the U.S. military prison off Cuba after it opened in January 2002. His departure from the detention center on Jan. 6, 2025, along with 10 fellow inmates, was part of an effort to reduce the prison’s population before the end of President Joe Biden’s term.

    For al-Alwi, it meant freedom not only for himself, but also for his artwork. While not all detainees shared his passion, creating art was not an uncommon pursuit inside Guantánamo – indeed it has been a feature, formally and informally, of the detention center since its opening more than 20 years ago.

    As editors of the recently published book “The Guantánamo Artwork and Testimony of Moath al-Alwi: Deaf Walls Speak,” we found that art-making in Guantánamo was more than self-expression; it became a testament to detainees’ emotions and experiences and influenced relationships inside the detention center. Examining the art offers unique ways of understanding conditions inside the facility.

    Art from tea bags and toilet paper

    Detained without charge or trial for 23 years, al-Alwi was first cleared for release in December 2021. Due to unstable conditions in his home country of Yemen, however, his transfer was subject to finding another country for resettlement. Scheduled for release in early October 2023, he and 10 other Yemeni detainees were further delayed when the Biden administration canceled the flight due to concerns over the political climate after the Oct. 7 attacks in Israel.

    Sabri Mohammad Ibrahim Al Qurashi depicted Lady Liberty with a cage at her base.
    Sabri Mohammad Ibrahim Al Qurashi, CC BY-SA

    During his detention, al-Alwi suffered abuse and ill treatment, including forced feedings. Making art was a way for him, and others, to survive and assert their humanity, he said. Along with fellow former detainees Sabri al-Qurashi, Ahmed Rabbani, Muhammad Ansi and Khalid Qasim, among others, al-Alwi became an accomplished artist while being held. His work was featured in several art shows and in a New York Times opinion documentary short

    During the detention center’s early years, these men used whatever materials were at hand to create artwork – the edge of a tea bag to write on toilet paper, an apple stem to imprint floral and geometric patterns and poems onto Styrofoam cups, which the authorities would destroy after each meal.

    In 2010, the Obama administration began offering art classes at Guantánamo in an attempt to show the world they were treating prisoners humanely and helping them occupy their time.

    However, those attending were given only rudimentary supplies. And they were subjected to invasive body searches to and from class and initially shackled to the floor, with one hand chained to the table, throughout each session. Furthermore, the subject matter for their art was restricted – detainees were forbidden from representing certain aspects of their detention, and all artwork was subject to approval and risked being destroyed.

    Despite this, many detainees participated in the classes for camaraderie and the opportunity to engage in some form of creative expression.

    A window to freedom

    Making art served many purposes. Mansoor Adayfi, a former Guantánamo Bay detainee and author of “Don’t Forget Us Here: Lost and Found at Guantanamo,” wrote in his contribution to the book on al-Alwi that initially, “we painted what we missed: the beautiful blue sky, the sea, stars. We painted our fear, hope and dreams.”

    Those who have been transferred from Guantánamo describe the art as a way to express their appreciation for culture, the natural world and their families while imprisoned by a regime that consistently characterized them as violent and inhuman.

    The Statue of Liberty became a frequent motif Guantánamo artists deployed to communicate the betrayal of U.S. laws and ideals. Often, Lady Liberty was depicted in distress – drowning, shackled or hooded. For Sabri al-Qurashi, the symbol of freedom under duress represented his own condition when he painted it. “I am in prison, not free, and without any rights,” he told us.

    Sabri Mohammad Ibrahim Al Qurashi painting of the Statue of Liberty.
    Sabri Mohammad Ibrahim Al Qurashi, 2012, CC BY-SA

    Other times, the artwork responded directly to the men’s day-to-day conditions of confinement.

    One of al-Alwi’s early pieces was a model of a three-dimensional window. Approximately 40 x 55 inches, the window was filled in with images carefully torn from nature and travel magazines, and layered to create depth, so that it appeared to look out on an island with a house with palm and coconut trees made from twisted pieces of rope and soap.

    Al-Alwi was initially allowed to keep it in his windowless cell, and fellow detainees and guards would visit to “look out” the window.

    But, as far as we know, it was eventually lost or destroyed in a prison raid.

    Art as representation and respite

    In another example of how artwork can be an expression of what former detainees call their “brotherhood,” Khalid Qasim, who was imprisoned at the age of 23 and held for more than two decades before being transferred alongside al-Alwi, mixed coffee grounds and coarse sand to create a series of nine textured, evocative paintings to memorialize each of the nine men who died while held at Guantánamo.

    Especially in periods when camp rules allowed detainees to create artwork in their cells, the artists’ use of prison detritus and found objects made the artwork more than simply a depiction of what the men lacked, desired or imagined. Artwork helped create an alternative forum for the men’s experiences, especially for those artists who, along with the vast majority of Guantánamo’s 779 detainees, never faced charge or trial.

    The pieces served as symbols and metaphors of the detainees’ experiences. For example, al-Alwi describes his 2015 large model ship, The Ark, as fighting against the waves of an imagined, threatening sea. In creating it, he wrote, “I felt I was rescuing myself.”

    Moath al-Alwi used found items to create his model ships.
    Moath al-Alwi, 2017, CC BY-SA

    Constructed out of the materials of his imprisonment, the work also points to the conditions of his daily life in Guantánamo. Made from the strands of mops, unraveled prayer cap and T-shirt threads, bottle caps, bits of sponges and cardboard from meal packaging, al-Alwi’s ships – he went on to create at least seven – reveal both his artistic ingenuity and his circumstances.

    Guantánamo artists talk about the artwork as being imprisoned like them and subjected to the same restrictions and seemingly arbitrary processes of approval or disappearance.

    The transfer to Oman of al-Alwi and his artwork releases both from those processes. It also creates an opportunity to inform the public about what Guantánamo meant to those who were held there, and to the 15 men who remain.

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

    – ref. ‘We painted our fear, hope and dreams’ − examining the art and artists of Guantánamo Bay – https://theconversation.com/we-painted-our-fear-hope-and-dreams-examining-the-art-and-artists-of-guantanamo-bay-246964

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: A federal policy expert weighs in on Trump’s efforts to stifle gender-affirming care for Americans under 19

    Source: The Conversation – USA – By Elana Redfield, Federal Policy Director at the Williams Institute, University of California, Los Angeles

    President Donald Trump signs an executive order in the Oval Office of the White House on Jan. 23, 2025. AP Photo/Ben Curtis

    Amid a flurry of executive orders affecting transgender Americans, the Trump administration ordered restrictions on gender-affirming care for minors. Calling it “a stain on our Nation’s history,” the Jan. 28, 2025, order seeks to “end” this form of treatment for Americans under 19 years old.

    The Conversation U.S. interviewed Elana Redfield, federal policy director at the Williams Institute, an independent research center at the UCLA School of Law dedicated to studying sexual orientation and gender identity law. She describes the aims of the executive order, how much weight it carries, and how it should be understood in the broader context of legal battles over access to gender-affirming care.

    What’s the scope of the executive order?

    Twenty-six states have already restricted gender-affirming care for minors or banned it outright. So the order seeks to extend restrictions to the rest of the country using the weight of the executive branch.

    However, it’s not a national ban on gender-affirming care for minors. Instead, it’s directing federal agencies to regulate and restrict this form of care.

    That being said, federal agencies have a tremendous impact on American life. Trans kids rely on publicly funded health insurance programs such as Medicaid and TRICARE, which is administered to the children of active duty service members via the Department of Defense. And a big part of the executive order is directing the federal agencies that administer these programs to review their own policies to ensure that they are not supporting gender-affirming care for minors.

    So what we’re really seeing is the federal government trying to erect barriers to kids accessing this care.

    Does the executive branch have the authority to unilaterally ban federal funding of certain medical treatments?

    The answer is a little mixed. A president might be able to suspend or put a temporary pause on funding a particular type of treatment or service. But the actual parameters of a program – and how agencies should implement them – are determined by Congress and, to some extent, by the courts.

    Ultimately, the president can only take actions in ways that are designated by the Constitution, or through some specific power that Congress has granted to the executive branch. I don’t see that authority granted for a lot of what’s contained in this executive order. But many of these directives will probably be litigated in court, where the president will likely argue that he has the power to direct agencies to do all they can to put a halt to gender-affirming care for minors.

    Do private health insurers fall outside the scope of this executive order?

    On the surface, yes. But it’s easy to see how directives from the executive branch can touch broader components of the country’s health care system, including private hospitals and private health insurance.

    For example, Section 1557 of the Affordable Care Act is a nondiscrimination provision. It says there can be no sex discrimination when it comes to approving health care treatments. This has been interpreted to mean that health insurance plans receiving federal funding cannot deny a policyholder gender-affirming care. However, this interpretation has been blocked by a federal court.

    The question of whether this definition of sex discrimination encompasses gender identity is currently playing out in the courts. For example, there’s a pending U.S. Supreme Court decision regarding a Tennessee law banning gender-affirming care for minors. Should the Supreme Court determine that Tennessee is able to ban gender-affirming care for minors, it’s possible to see how this could impact private health insurance coverage for gender-affirming care.

    Transgender rights supporters and opponents rally outside of the U.S. Supreme Court as the high court hears arguments in a case about Tennessee’s law banning gender-affirming care for minors on Dec. 4, 2024.
    Kevin Dietsch/Getty Images

    What else stood out to you from the executive order?

    The executive order directs the Department of Justice to discourage doctors and hospitals from administering gender-affirming care to minors, characterizing it as genital mutilation, which is a heinous-sounding offense. Even though this is an inaccurate comparison, it could have a chilling effect even in states where this form of care is legal.

    The order also contains a provision that asks Congress to extend the statute of limitations for gender-affirming care, so that someone who received gender-affirming care as a minor and decides they’re not happy with it decades later can sue their doctor. Some states have already extended the statute of limitations to 30 years for gender-affirming care.

    Again, this could have a chilling effect in states where the care is legal. What doctor or hospital would want to expose themselves to this risk?

    Of course, these two elements constitute directives from the executive branch, but we don’t know how they’ll be enforced. They do reveal, however, some of the ways in which the administration plans to direct its efforts.

    Before Roe v. Wade was overturned, federal funding of elective abortion had been restricted for decades under the Hyde Amendment. You can’t receive coverage for an abortion under a Medicaid plan, for example. Do you see this executive order as Trump trying to simply enact – via fiat, of course – his own version of the Hyde Amendment, but instead applied to gender-affirming care for minors?

    I think there’s a key difference between the two. The Hyde Amendment, which has been repeatedly reenacted by Congress, prohibits federal funding of abortion care, but it doesn’t prohibit states from allowing or permitting abortion. It’s always operated as a sort of compromise: It says providers can’t use federal funding for an abortion, but they can use their own funding to administer abortions – and oh, by the way, they can still receive federal funding for other health services.

    This executive order, on the other hand, takes a much more uncompromising position: It tells agency heads to stop directing any and all federal funds to institutions that research or provide gender-affirming care.

    Again, it’s important to remember that executive orders aren’t established policy. They’re simply directing agencies to craft certain policies and encouraging lawmakers to enact legislation.

    So far, much of the legislation restricting gender-affirming care – whether it’s at the state level or in the executive branch – has centered on minors, or individuals under 19. Are there any threats to gender-affirming care for adults?

    Only one state, Florida, has enacted a law that specifically regulates gender-affirming care for adults. That law basically sets some compliance standards and restricts who can prescribe the care. Florida also banned the use of state funds for gender-affirming care for everyone, adults and children. So that means, for example, those who are incarcerated in state prisons can’t receive gender-affirming care.

    Florida isn’t the only state that has enacted a state funding ban. Depending on your insurance, this could mean you’re forced to pay out of pocket for your procedures and treatment, which can be prohibitively expensive.

    What are you going to be watching for in the coming weeks?

    I’m sure someone’s going to sue to challenge the order. The problem, though, is that an executive order is an expression of policy ideas. You need something to actually happen before lawyers and activists can react to it. So I’ll be tracking federal agencies to see how they specifically try to enact some of these directives.

    Is there anything else you’d like to add?

    This executive order contains language that characterizes the science around gender-affirming care as junk science. It’s repeatedly described as chemical and surgical mutilation, or as maiming and sterilizing kids. There’s talk of rapid-onset gender dysphoria, which has been discredited.

    So it rejects the idea that gender-affirming care has health benefits, even though there’s robust, extensive evidence supporting access to gender-affirming care. Self-reporting by transgender individuals is overwhelmingly positive: 98% of trans people who had hormone therapy said it made their lives better, according to the 2022 U.S. Transgender Survey.

    There are also rigorous standards of practice, including for how you support and treat minors, that are intended to prevent overprescription or overutilization of services.

    In other words, there are already barriers in place and checks and balances for minors if they want to access gender-affirming care.

    Elana Redfield works at an organization that has received private, state or federal research grants.

    – ref. A federal policy expert weighs in on Trump’s efforts to stifle gender-affirming care for Americans under 19 – https://theconversation.com/a-federal-policy-expert-weighs-in-on-trumps-efforts-to-stifle-gender-affirming-care-for-americans-under-19-248646

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: How satellites and AI help fight wildfires today

    Source: The Conversation – USA – By John W. Daily, Research Professor in Thermo Fluid Sciences, University of Colorado Boulder

    The wind and terrain can quickly change how a fire, like this one near Los Angeles in January 2025, behaves. AP Photo/Marcio Jose Sanchez

    As wind-driven wildfires spread through the Los Angeles area in January 2025, fire-spotting technology and computer models were helping firefighters understand the rapidly changing environment they were facing.

    That technology has evolved over the years, yet some techniques are very similar to those used over 100 years ago.

    I have spent several decades studying combustion, including wildfire behavior and the technology used to track fires and predict where wildfires might turn. Here’s a quick tour of the key technologies used today.

    Spotting fires faster

    First, the fire must be discovered.

    Often wildfires are reported by people seeing smoke. That hasn’t changed, but other ways fires are spotted have evolved.

    In the early part of the 20th century, the newly established U.S. Forest Service built fire lookout towers around the country. The towers were topped by cabins with windows on all four walls and provided living space for the fire lookouts. The system was motivated by the Great Fire of 1910 that burned 3 million acres in Washington, Idaho and Montana and killed 87 people.

    Before satellites, fire crews watched for smoke from fire towers across the national forests.
    K. D. Swan, U.S. Forest Service

    Today, cameras watch over many high-risk areas. California has more than 1,100 cameras watching for signs of smoke. Artificial intelligence systems continuously analyze the images to provide data for firefighters to quickly respond. AI is a way to train a computer program to recognize repetitive patterns: smoke plumes in the case of fire.

    NOAA satellites paired with AI data analysis also generate alerts but over a wider area. They can detect heat signatures, map fire perimeters and burned areas, and track smoke and pollutants to assess air quality and health risks.

    Forecasting fire behavior

    Once a fire is spotted, one immediate task for firefighting teams is to estimate how the fire is going to behave so they can deploy their limited firefighting resources most effectively.

    Fire managers have seen many fires and have a sense of the risks their regions face. Today, they also have computer simulations that combine data about the terrain, the materials burning and the weather to help predict how a fire is likely to spread.

    Fuel models

    Fuel models are based on the ecosystem involved, using fire history and laboratory testing. In Southern California, for example, much of the wildland fuel is chaparral, a type of shrubland with dense, rocky soil and highly flammable plants in a Mediterranean climate. Chaparral is one of the fastest-burning fuel types, and fires can spread quickly in that terrain.

    For human-made structures, things are a bit more complex. The materials a house is made of – if it has wood siding, for example – and the environment around it, such as how close it is to trees or wooden fences, play an important role in how likely it is to burn and how it burns.

    How scientists study fire behavior in a lab.

    Weather and terrain

    Terrain is also important because it influences local winds and because fire tends to run faster uphill than down. Terrain data is well known thanks to satellite imagery and can easily be incorporated into computer codes.

    Weather plays another critical role in fire behavior. Fires need oxygen to burn, and the windier it is, the more oxygen is available to the fire. High winds also tend to generate embers from burning vegetation that can be blown up to 5 miles in the highest winds, starting spot fires that can quickly spread.

    Today, large computer simulations can forecast the weather. There are global models that cover the entire Earth and local models that cover smaller areas but with better resolution that provides greater detail.

    Both provide real-time data on the weather for creating fire behavior simulations.

    Modeling how flames spread

    Flame-spread models can then estimate the likely movement of a fire.

    Scientists build these models by studying past fires and conducting laboratory experiments, combined with mathematical models that incorporate the physics of fire. With local terrain, fuel and real-time weather information, these simulations can help fire managers predict a fire’s likely behavior.

    Examples of how computer modeling can forecast a fire’s spread. American Physical Society.

    Advanced modeling can account for fuel details such as ground-level plant growth and tree canopies, including amount of cover, tree height and tree density. These models can estimate when a fire will reach the tree canopy and how that will affect the fire’s spread.

    Forecasting helps, but wind can change fast

    All these tools are made available to firefighters in computer applications and can help fire crews as they respond to wildfires.

    However, wind can rapidly change speed or direction, and new fires can start in unexpected places, meaning fire managers know they have to be prepared for many possible outcomes – not just the likely outcomes they see on their computer screens.

    Ultimately, during a fire, firefighting strategy is based on human judgment informed by experience, as well as science and technology.

    John W. Daily receives funding from the Department of Defense for wildland fire research. He is affiliated with the Combustion Institute and the American Institute of Aeronautics and Astronautics. He is a Fellow of both organizations.

    – ref. How satellites and AI help fight wildfires today – https://theconversation.com/how-satellites-and-ai-help-fight-wildfires-today-248420

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Stricter abortion laws may cause increased infant deaths − 2 maternal and child health researchers explain the data

    Source: The Conversation – USA – By Almut Winterstein, Distinguished Professor of Pharmaceutical Outcomes & Policy, University of Florida

    Many babies born with severe birth defects die within the first few days or weeks of life. shironosov/iStock via Getty Images Plus

    Infant mortality in the U.S. has increased by 7% since the 2022 Dobbs v. Jackson U.S. Supreme Court decision overturned the constitutional right to abortion, according to an October 2024 study.

    Those findings followed another study that reported a 12.7% rise in infant mortality in Texas after the implementation of Senate Bill 8, which bans abortions after a fetal heartbeat is detected. Except for medical emergencies, the law effectively makes abortions illegal in the state after about five to six weeks’ gestation.

    Both studies noted larger increases in deaths among infants born with birth defects. This suggests women are delivering more babies with severe congenital malformations who have no hope of survival beyond a few hours, days or, at most, a few weeks.

    But even before this new research substantiated such a link, clinicians who specialize in care for high-risk pregnancies warned about the potential consequences of the new abortion laws.

    We are researchers focused on maternal and child health who evaluate the safety of medications during pregnancy. We identify medications that might raise the risk for birth defects or pregnancy loss.

    We also evaluate the effectiveness of policies and initiatives aimed at improving pregnancy outcomes, including whether stricter abortion laws could result in more infant deaths.

    Birth defects: A leading cause of infant mortality

    Birth defects affect 3% of pregnancies in the U.S.

    They can be caused by exposures to certain medications, infections, maternal diseases or genetics. For many, causes are unknown.

    While birth defects can develop at any time during pregnancy, most occur during the first three months of pregnancy, a critical time for organ development. More than 5% of pregnancies are exposed to about 200 medications with the potential to cause birth defects.

    After its new abortion law went into effect, Texas saw an increase in infant mortality that was seven times higher than the rest of the U.S.

    Many birth defects are treatable; orofacial clefts and some heart defects, for example, can be corrected with surgery. Some cause lifelong disability and some are fatal, resulting in babies who are stillborn or die shortly after birth. Birth defects are a leading cause of infant mortality, accounting for about 20% of deaths in the first year of life.

    Among anomalies considered lethal, not all result in pregnancy loss or immediate death at delivery. For example, more than half of infants with trisomy 18, a chromosomal abnormality that causes severe heart defects or breathing problems, die within the first week of life. Only 13% survive until their first birthday.

    Anencephaly, a birth defect that affects the development of the skull and brain, results in either stillbirth or death within the first weeks of life. But there is one case report of an infant who survived to her second birthday.

    More than 80% of women will choose to terminate a pregnancy with anencephaly when detected before 24 weeks’ gestation, according to data from before the Dobbs decision. Given the profound effects on parents’ lives, this choice is very personal. But in many states, these women may no longer have a choice. Because of abortion laws with limited or no exceptions, women who carry a fetus with a fatal condition have no legal option other than to carry their pregnancy to term.

    Legal landscape of abortion laws

    As of January 2025, 16 states have total abortion bans in effect or restrictions that do not permit abortions after six weeks. In nine of these states, lethal birth defects are not considered an exception.

    But even in states with those exceptions, the legal wording used to craft the legislation is often confusing to health care providers. Statutory language does not always use medical terms and may assume a certainty about pregnancy outcomes that does not exist. For example, even anencephaly does not meet the commonly used statutory definition of “no viability outside the uterus.”

    Such uncertainty adds to hesitation – and fear – on the part of doctors and nurses who may face steep penalties, including criminal charges and prison time, should they provide an abortion that is later deemed illegal in a court of law.

    Prenatal care too late

    In 2023, prenatal care began after the first trimester for about 24% of pregnancies in the U.S.

    In our February 2024 study of a national sample of nearly 640,000 privately insured pregnant women, the median time to prenatal care was eight weeks. In other words, for more than half of women living in a state with a six-week abortion ban, obstetric assessments would likely commence too late to consider an abortion if a birth defect were detected.

    More than 6,000 women in our study were exposed to medications that can cause birth defects within the first six weeks of pregnancy. These include medications used to treat common yeast or urinary tract infections, drugs used for migraine or weight loss, and blood pressure medications, to name a few. Nearly all of those women – 96% – had no prenatal care prior to taking the medication, and many may not have been aware they were pregnant. For more than 80% of these pregnancies, prenatal care started after six weeks, too late to prevent exposure to unsafe medications or to screen for potential birth defects and to consider pregnancy termination in states with stricter abortion bans.

    Importantly, prenatal identification methods of birth defects range from screening maternal blood for chromosome abnormalities, which is done at 10 weeks’ gestation, to a second-trimester ultrasound to look for fetal structural defects, to procedures such as chorionic villus sampling or amniocentesis to evaluate for genetic conditions. These are all performed after six weeks of pregnancy.

    Even if screening might still fall within abortion cutoffs, the probability to detect adverse outcomes in utero varies substantially.

    For example, valproic acid is a medication that treats epilepsy, migraine and some mental health disorders. About 1% to 2% of women taking valproic acid become pregnant each year. Valproic acid causes birth defects that can be detected in utero such as oral clefts or spina bifida. But it also increases the risk for autism and adverse cognitive defects, which may be diagnosed years after delivery.

    Currently, there is no law addressing instances when an adverse outcome is probable but cannot be confirmed before delivery. Hence, stricter abortion laws are expected to not only increase inevitable infant deaths but also births of infants with severe disability.

    Almut Winterstein receives funding from NIH, FDA, CDC, AHRQ, The Bill and Melinda Gates Foundation, the state of Florida, and Merck, Sharp and Dohme. She has received consulting honoraria from Novo Nordisk, Bayer, Syneos, Ipsen and Lykos. She has chaired the FDA Drug Safety and Risk Management Advisory Committee and now serves as consultant for similar FDA committees.

    Dr. Rasmussen receives funding from NIH, FDA, and CDC. She also serves on scientific advisory committees for several pregnancy registries, including registries for Harmony Biosciences, Axsome Pharmaceuticals, Biohaven Pharmaceuticals (recently acquired by Pfizer), Myovant Sciences, and Novo Nordisk.

    – ref. Stricter abortion laws may cause increased infant deaths − 2 maternal and child health researchers explain the data – https://theconversation.com/stricter-abortion-laws-may-cause-increased-infant-deaths-2-maternal-and-child-health-researchers-explain-the-data-243881

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Gen Z seeks safety above all else as the generation grows up amid constant crisis and existential threat

    Source: The Conversation – USA – By Yalda T. Uhls, Founder and Executive Director of the Center for Scholars & Storytellers and Assistant Adjunct Professor in Psychology, University of California, Los Angeles

    Asked to rate the importance of 14 personal goals, Gen Z reported ‘to be safe’ as the top goal. Darya Komarova/Getty Images

    After many years of partisan politics, increasingly divisive language, finger-pointing and inflammatory speech have contributed to an environment of fear and uncertainty, affecting not just political dynamics but also the priorities and perceptions of young people.

    As a developmental psychologist who studies the intersection of media and adolescent mental health, and as a mother of two Gen Z kids, I have seen firsthand how external societal factors can profoundly shape young people’s emotional well-being.

    This was brought into sharp relief through the results of a recent survey my colleagues and I conducted with 1,644 young people across the U.S., ages 10 to 24. The study was not designed as a political poll but rather as a window into what truly matters to adolescents. We asked participants to rate the importance of 14 personal goals. These included classic teenage desires such as “being popular,” “having fun” and “being kind.”

    None of these ranked as the top priority. Instead, the No. 1 answer was “to be safe.”

    It lurks everywhere: Gen Z’s perception of danger is further shaped by events like the recent fires devastating Los Angeles.
    Agustin Paullier/AFP via Getty Images

    What was once taken for granted

    The findings are both illuminating and heartbreaking. As a teenager, I did countless unsafe things. My peers and I didn’t dwell on harm; we chased fun and freedom.

    Whereas previous generations may have taken safety for granted, today’s youth are growing up in an era of compounded crises — school shootings, a worsening climate crisis, financial uncertainty and the lingering trauma of a global pandemic. Even though our research did not pinpoint the specific causes of adolescent fears, the constant exposure to crises, amplified by social media, likely plays a significant role in fostering a pervasive sense of worry.

    Despite data showing that many aspects of life are safer now than in previous generations, young people just don’t feel it. Their perception of danger is further shaped by events like the recent fires that devastated Los Angeles, reinforcing a belief that danger, possibly caused by global crises like climate change, lurks everywhere.

    This shift in perspective has profound implications for the future of this generation and those to come.

    Especially vulnerable time

    Adolescence, like early childhood, is a pivotal period for brain development. Young people are particularly sensitive to their surroundings as their brains evaluate the environment to prepare them for independence.

    This developmental stage – when the capacity to regulate emotions and critically assess information is still maturing – makes them especially vulnerable to enduring impacts.

    Studies show that adolescents are more likely to overestimate risks and struggle to put threats in context. This makes them particularly vulnerable to fear-driven messaging prevalent in both traditional and social media, which is further amplified by political rhetoric and blame-shifting. This vulnerability has implications for their mental health, as prolonged exposure to fear and uncertainty has been linked to increased rates of anxiety, depression and even physical health issues.

    So when the media that Gen Z consumes are dominated by fear – be it through headlines, social media posts, political rhetoric or even storylines in movies and TV – it could shape their worldview in ways that may reverberate for generations to come.

    Enduring generational impact

    Historical events have long been shown to shape the worldview of entire generations.

    For instance, the Great Depression primarily impacted the daily lives of the Silent Generation, those born between 1928 and 1945. Moreover, its long-term effects on financial attitudes and security concerns echoed into the Baby Boomer generation, influencing how those born between 1946 and 1964 approached money, stability and risk throughout their lives.

    Similarly, today’s adolescents, growing up amid a series of compounded global crises, will likely carry the imprint of this period of heightened fear and uncertainty well into adulthood. This formative experience could shape their mental health, decision-making and even their collective identity and values for decades to come.

    In addition, feelings of insecurity and instability can make people more responsive to fear-based messaging, which could potentially influence their political and social choices. In an era marked by the rise of authoritarian governments, this susceptibility could have far-reaching implications because fear often drives individuals to prioritize immediate safety over moral or ideological ideals.

    As such, these dynamics may profoundly shape how this generation engages with the world, the causes they champion and the leaders they choose to follow.

    Room for optimism?

    Interestingly, “being kind” was rated No. 2 in our survey, irrespective of other demographics. While safety dominates their priorities, adolescents still value qualities that foster connection and community.

    This finding indicates a duality in their aspirations: While they feel a pervasive sense of danger, they also recognize the importance of interpersonal relationships and emotional well-being.

    Our findings are a call to look at the broader societal context shaping adolescent development. For instance, the rise in school-based safety drills, while intended to provide a sense of preparedness, may unintentionally reinforce feelings of insecurity. Similarly, the apocalyptic narrative around climate change may create a sense of powerlessness that could further compound their fears and leave them wanting to bury their heads in the sand.

    Understanding how these perceptions are formed and their implications for mental health, decision-making and behavior is essential for parents, storytellers, policymakers and researchers.

    I believe we must also consider how societal systems contribute to the pervasive sense of uncertainty and fear among youth. Further research can help untangle the complex relationship between external stressors, media consumption and youth well-being, shedding light on how to best support adolescents during this formative stage of life.

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

    – ref. Gen Z seeks safety above all else as the generation grows up amid constant crisis and existential threat – https://theconversation.com/gen-z-seeks-safety-above-all-else-as-the-generation-grows-up-amid-constant-crisis-and-existential-threat-245455

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Global: Biden targeted the online right-wing terrorism threat − now it’s up to Trump

    Source: The Conversation – USA – By Jason M. Blazakis, Professor of Practice and Director of Center on Terrorism, Extremism and Counterterrorism, Middlebury

    U.S. officials say the right-wing terrorism threat is significant. Farion_O/iStock via Getty Images

    In the waning days of the Biden administration, the U.S. Department of State took its first major step against terrorism groups primarily focused on what is called “accelerationism” – the effort to inspire independent followers to engage in violence in ways that broadly destabilize society. The U.S. government has long targeted actively violent terrorist organizations such as al-Qaida – the group behind the 9/11 attacks – and the Islamic State group, which carried out beheadings of innocent civilians in Iraq and Syria.

    Then-FBI Director Christopher Wray repeatedly warned Congress about the threat to national security from far-right accelerationist groups. In a move to respond to those warnings, the Biden administration labeled the online-only “Terrorgram Collective” and three of its leaders as specially designated global terrorists, which means their financial assets are frozen and anyone who tries to support them can be arrested.

    The Terrorgram Collective aims to destroy the current global economic and political structure and spark a war between white people and people of other racial and ethnic backgrounds. To accomplish that, it maintains an online forum on the Telegram social media platform. The forum’s posts, from leaders and followers alike, are characterized by people spouting violent rhetoric and incitement to violence against minorities, Jewish people and governments.

    Widespread radicalization

    The State Department’s action also specifically targets two U.S. citizens: Dallas Humber of California and Matthew Allison of Idaho, who allegedly played leading roles in the Terrorgram Collective and are facing federal charges for soliciting the murder of government officials.

    As my colleagues at Middlebury’s Center on Terrorism, Extremism and Counterterrorism wrote in a 2022 report, Terrorgram’s danger is primarily in its ability to spread far-right propaganda to radicalize almost anyone active on Telegram or elsewhere online.

    The State Department has not attributed specific attacks to the Terrorgram Collective but rather warns of its influence and potential to inspire attacks by people who encounter the ideas it spreads. For instance, Terrorgram material was reportedly used as the basis for writings by a 17-year-old high school student who killed two fellow students and injured a third in a Jan. 22, 2025, school shooting in Nashville, Tennessee.

    The Telegram app icon on a smartphone screen.
    Nikolas Kokovlis/NurPhoto via Getty Images

    Little targeting of fascist groups

    The Terrorgram action came seven months after the Biden administration’s labeling of a Scandinavia-based far-right extremist group, the Nordic Resistance Movement, as terrorists as well.

    These were two of just three times fascist extremist groups anywhere in the world were labeled terrorists by the U.S. government. Early in his first term, President Donald Trump’s State Department did label one far-right group as a specially designated global terrorist organization: the Russian Imperial Movement, based in Russia.

    But as the former head of the State Department office that sanctions terrorists, I know that neither Trump nor Biden marshaled the full force of the nation’s anti-terrorism efforts against these groups.

    There’s a hierarchy in the U.S. government’s labels for these organizations. That hierarchy reflects the degree of danger an organization poses as well as the strength of the U.S. response to it.

    The highest-level designation and the most significant sanctions the U.S. government can impose come from placing a group on the State Department’s list of foreign terrorist organizations. That list includes groups such as al-Qaida and the Islamic State group – also called ISIS or ISIL – which are subject to asset freezes and extended prison sentences and are barred from entering the U.S.

    The second-tier list covers what are called specially designated global terrorists, which carries similar, but less severe, restrictions.

    It’s easier to prove someone did something to support a group on the foreign terrorist organization list than to prove support for a group on the specially designated list. And jail time for foreign terrorist organization backers is typically longer.

    All three right-wing groups are on the specially designated list, though the Trump administration could upgrade them to the top-level list, as Trump has asked the State Department to do with the Houthi militants in Yemen.

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

    – ref. Biden targeted the online right-wing terrorism threat − now it’s up to Trump – https://theconversation.com/biden-targeted-the-online-right-wing-terrorism-threat-now-its-up-to-trump-247977

    MIL OSI – Global Reports –

    January 31, 2025
  • MIL-OSI Russia: Marat Khusnullin: Almost 1 million road signs and more than 13 thousand traffic lights were installed in six years under the national project “Safe High-Quality Roads”

    Translartion. Region: Russians Fedetion –

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

    Overpass near the Bykovo railway station, Moscow region

    January 30, 2025

    Section of the Ulyanovsk – Dimitrovgrad – Samara highway, Samara region

    January 30, 2025

    Previous news Next news

    Overpass near the Bykovo railway station, Moscow region

    Improving traffic safety is one of the key objectives of the national project “Safe High-Quality Roads”, which ended in 2024. To achieve this, the regions equipped pedestrian crossings, installed traffic lights and road signs, and carried out work to form a culture of behavior on the roadway, said Deputy Prime Minister Marat Khusnullin.

    “In recent years, the country has seen an increase in traffic intensity on the roads: the volume of freight transportation is increasing, the mobility of citizens is improving. In this regard, the key task for us remains not only to bring the roads into a regulatory condition, but also to ensure the safety of all road users. Over the six years of implementing the national project “Safe High-Quality Roads”, which has completed its work, over 13 thousand traffic lights, 963 thousand road signs, 4.9 million linear meters of barriers and 1.4 million linear meters of pedestrian fences have been installed in the regions. In addition, over 3.1 million linear meters of lighting have been installed, 103.7 million linear meters of road markings have been applied. We will continue to work in this direction within the framework of the new national project “Infrastructure for Life”, – said Marat Khusnullin.

    An integrated approach to road repair is one of the features of the national project.

    “Implementation of measures to ensure road safety is a major joint effort of road workers and the State Traffic Safety Inspectorate: work plans are drawn up to minimize accident sites, and traffic management projects are developed. In 2024 alone, thanks to the national project, specialists installed more than 136 thousand road signs, 893 traffic lights, 701 thousand linear meters of barriers and 168 thousand linear meters of pedestrian fences, placed more than 1.1 thousand pedestrian crossings and over 1.2 thousand stopping points. They equipped 761 thousand linear meters of sidewalks, 335 thousand linear meters of lighting and 1082 speed bumps. They also applied over 10 thousand linear meters of markings. In addition, 4688 linear meters of rumble strips appeared at the national project sites,” said Transport Minister Roman Starovoit.

    When planning road works, special attention is paid to improving child safety.

    “In 2024 alone, 920 sections of routes to educational and children’s leisure facilities were brought up to standard. Their total length is 3.1 thousand km. These are streets in populated areas, as well as sections of regional and inter-municipal roads where school buses run. But educational work is no less important for reducing road traffic injuries: it is necessary to develop safe behavior skills on the roads from childhood. In particular, with the support of the national project, the All-Russian online Olympiad “Safe Roads” was held since 2020. In the past 2024, almost 5.5 million children took part in it. And over five years, 20.8 million participants tested and consolidated their knowledge of traffic rules,” said Igor Kostyuchenko, Deputy Head of the Federal Road Agency.

    In 2024, 24.1 km of sidewalks and 23.6 km of outdoor lighting lines were installed along regional highways within the boundaries of populated areas in the Samara Region. The longest of them, 7.74 km long, were built in the village of Zhiguli in the Stavropol Region during the major repairs of the Ural-Zhiguli-Pionerlager road.

    In the Moscow Region, from 2019 to 2024, thanks to the national project, 720 km of sidewalks and 415 km of outdoor lighting lines were built, more than 1.2 thousand traffic lights were installed and modernized, over 550 thousand linear meters of fences of various types, 2.5 thousand speed bumps were installed, 600 new pedestrian crossings were organized, and another 5.3 thousand existing ones were equipped with lighting and projection.

    In the Kostroma Region, during the entire period of the national project implementation, more than 65 thousand linear meters of barrier fencing, over 13 thousand signal posts, about 16 thousand signs and six traffic lights were installed at regional road facilities alone. For safe movement at night, more than 65 thousand linear meters of artificial lighting lines were installed on the highways. Thanks to the national project, the problem of lighting of all settlements located on the Ostrovskoye-Zavolzhsk, Kostroma-Susanino-Buy, Kostroma-Nerekhta highways was solved.

    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 –

    January 31, 2025
  • MIL-OSI Asia-Pac: FEHD arrests unlicensed hawkers for selling cable car ticket redemption vouchers

    Source: Hong Kong Government special administrative region

         In response to the illegal hawking without licence of cable car tickets in Tung Chung, the Food and Environmental Hygiene Department (FEHD) and the Lantau North Division of the Hong Kong Police Force conducted a joint operation against illegal hawking without licence at Mei Tung Street, Tung Chung today (January 30). During the operation, the police officers disguised as customers to gather evidence at the stalls located at the mentioned address. It was discovered that a man and a woman were selling Ngong Ping 360 cable car tickets. FEHD officers promptly intervened, arresting and charging the above-mentioned persons for illegal hawking without licence and causing obstruction in public place.

         The arrested persons were a 49-year-old man and a 21-year-old woman (both holding Hong Kong identity cards). During the operation, FEHD officers seized items such as cable car ticket redemption vouchers, price tags, metal folding tables and Octopus Mobile POS (point of sale).

         The FEHD reminds that according to the Public Health and Municipal Services Ordinance (Cap. 132), no one is allowed to trade on the streets unless he holds a valid hawker licence issued by the Department. Offenders will be prosecuted and, upon conviction, a maximum penalty of $10,000 fine and six months’ imprisonment will be imposed, and the commodities and equipment involved will be seized and confiscated. In addition, if the illegal hawking activities also cause obstruction to the public place, the offender will also be charged under the Summary Offenses Ordinance (Cap. 228). Upon conviction, a maximum penalty of $25,000 or three months’ imprisonment will be imposed.

         The FEHD will continue the discussions with relevant organisations and departments to address the issue at its source and curb the illegal hawking without licence of cable car tickets.

    MIL OSI Asia Pacific News –

    January 31, 2025
  • MIL-OSI USA: Gross Domestic Product, 4th Quarter and Year 2024 (Advance Estimate)

    Source: US Bureau of Economic Analysis

    Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the fourth quarter of 2024 (October, November, and December), according to the advance estimate released by the U.S. Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.

    The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased. For more information, refer to the “Technical Notes” below.

    Compared to the third quarter, the deceleration in real GDP in the fourth quarter primarily reflected downturns in investment and exports. Imports turned down.

    The price index for gross domestic purchases increased 2.2 percent in the fourth quarter, compared with an increase of 1.9 percent in the third quarter. The personal consumption expenditures (PCE) price index increased 2.3 percent, compared with an increase of 1.5 percent. Excluding food and energy prices, the PCE price index increased 2.5 percent, compared with an increase of 2.2 percent.

    Real GDP and Related Measures
    (Percent change from preceding quarter)
    Real GDP 2.3
    Current-dollar GDP 4.5
    Gross domestic purchases price index 2.2
    PCE price index 2.3
    PCE price index excluding food and energy 2.5

    GDP for 2024

    Real GDP increased 2.8 percent in 2024 (from the 2023 annual level to the 2024 annual level), compared with an increase of 2.9 percent in 2023. The increase in real GDP in 2024 reflected increases in consumer spending, investment, government spending, and exports. Imports increased.

    The price index for gross domestic purchases increased 2.3 percent in 2024, compared with an increase of 3.3 percent in 2023. The PCE price index increased 2.5 percent, compared with an increase of 3.8 percent. Excluding food and energy prices, the PCE price index increased 2.8 percent, compared with an increase of 4.1 percent.

    Next release: February 27, 2025, at 8:30 a.m. EST
    Gross Domestic Product, 4th Quarter and Year 2024 (Second Estimate)

    For definitions, statistical conventions, updates to GDP, and more, visit “Additional Information.”

    Technical Notes

    Sources of change for real GDP

    Real GDP increased at an annual rate of 2.3 percent (0.6 percent at a quarterly rate1), primarily reflecting increases in both consumer and government spending. Imports, which are a subtraction in the calculation of GDP, decreased.

    • The increase in consumer spending reflected increases in both services and goods. Within services, the leading contributor to the increase was health care. Within goods, the leading contributors to the increase were recreational goods and vehicles as well as motor vehicles and parts.
      • Within health care, hospital and nursing home services (notably hospital services) and outpatient services increased, based primarily on Bureau of Labor Statistics (BLS) Current Employment Statistics (CES) employment, earnings, and hours data.
      • The increase in recreational goods and vehicles was led by information processing equipment, based on Census Bureau Monthly Retail Trade Survey data.
      • The increase in motor vehicles and parts was led by new light trucks, based primarily on unit sales data from Wards Intelligence.
    • The increase in government spending reflected increases in state and local as well as federal government spending.
      • Within state and local government spending, the increase was led by compensation of employees, based primarily on employment data from the BLS CES.
      • Within federal government spending, the increase was led by defense consumption expenditures, based primarily on Monthly Treasury Statement data.

    More information on the source data and BEA assumptions that underlie the fourth-quarter estimate is shown in the key source data and assumptions table.

    Impact of Hurricane Milton on fourth-quarter 2024 estimates

    Hurricane Milton made landfall as a Category 3 hurricane just south of Tampa Bay, Florida, on October 9, 2024, bringing damage from high winds, including significant tornado activity, and extensive inland flooding. 

    This disaster disrupted usual consumer and business activities and prompted emergency services and remediation activities. The responses to this disaster are included, but not separately identified, in the source data that BEA uses to prepare the estimates of GDP; consequently, it is not possible to estimate the overall impact of Hurricane Milton on fourth-quarter GDP. The destruction of fixed assets, such as residential and nonresidential structures, does not directly affect GDP or personal income. BEA estimates of disaster losses are presented in NIPA table 5.1, “Saving and Investment.” BEA’s preliminary estimates show that Hurricane Milton resulted in losses of $27.0 billion in privately owned fixed assets ($108.0 billion at an annual rate) and $3.0 billion in state and local government-owned fixed assets ($12.0 billion at an annual rate).

    For additional information, refer to “How are the measures of production and income in the national accounts affected by a disaster?” and “How are the fixed assets accounts (FAAs) and consumption of fixed capital (CFC) impacted by disasters?”

    1. Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. For more information, refer to the FAQ Why does BEA publish percent changes in quarterly series at annual rates?. 

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI USA: Coal Transportation Rates to the Electric Power Sector

    Source: US Energy Information Administration

    This recent update of the Coal Transportation Rates to the Electric Power Sector web page incorporates final data for 2023 from Form EIA-923, Power Plant Operations Report, and updates the tables with data in nominal and real 2023 dollars. The data tables are based on primary data that we collect from plant owners and operators on Form EIA-923 and on supplement data and analysis of coal transportation costs that we released in June 2011 and November 2012.

    The initial report on coal transportation rates covered 2001 through 2008, applied only to railroad shipments, and was based exclusively on waybill sample data obtained from the U.S. Surface Transportation Board (STB). The supplemental report provided an additional year of waybill sample data and incorporated data that we collected on Form EIA-923 for shipments by railroad, waterway, and truck for 2008 through 2010. The third set of tables on coal transportation rates were based on Form EIA-923 data for 2008 through 2012. The rates for 2008 and 2010 were slightly different from the rates we previously published due to minor changes in methodology. Transportation rates for 2011 and 2012 had not been previously published. The current release provides final rates for the years 2008 through 2023. We can no longer update waybill data due to STB’s modified interpretation of its data confidentiality obligation.

    As in previous iterations of Form EIA-923 data, the rates are based on primary mode of transportation. Because some shipments include a primary and secondary mode of transportation, these rates do not necessarily reflect the rates associated with only one transportation mode. In addition, the rates do not reflect shipments made to cogenerators and other end users of electricity, and they are based only on shipments made to plants in the electric power sector. We define the electric power sector as consisting of electric utilities and regulated and unregulated independent power producers.

    We calculate nominal rates by subtracting the commodity cost of the delivered coal from the total delivered cost, as reported by owners and operators of power plants with a combined nameplate capacity of 50 megawatts or greater. Because the commodity cost and delivered cost data are reported in terms of energy content (that is, million British thermal units), the costs are converted to dollars per ton using the average energy content of each shipment reported on the form. The representative transportation cost for each coal mine state, destination state, and transportation mode is a weighted average. Lastly, we convert the values to constant 2023 dollars by using the Implicit Price Deflators for Gross Domestic Product, as published by the U.S. Bureau of Economic Analysis in Table 1.1.9 of the National Income and Products Accounts tables.

    We make several assumptions when calculating the transportation costs. Most notably, we apply an internal methodology to identify and exclude costs that we believe to be outliers. In addition, we use only records that have reported values for commodity cost and delivered cost (in other words, we do not use imputed values).

    We assign coal shipments to basins based on counties as set out below.

    Basin State County
    Northern Appalachia Maryland  
    Ohio  
    Pennsylvania  
    West Virginia (northern)  
    Central Appalachia Kentucky (eastern)  
    Virginia  
    West Virginia (southern)  
    Tennessee Anderson, Campbell, Claiborne, Cumberland, Fentress, Morgan, Overton, Pickett, Putnam, Roane, and Scott
    Southern Appalachia Alabama  
    Tennessee Bledsoe, Coffee, Franklin, Grundy, Hamilton, Marion, Rhea, Sequatchie, Van Buren, Warren, and White
    Illinois Basin Illinois  
    Indiana  
    Kentucky (western)  
    Powder River Basin Montana Big Horn, Custer, Powder River, Rosebud, and Treasure 
    Wyoming Campbell, Converse, Crook, Johnson, Natrona, Niobrara, Sheridan, and Weston
    Uinta Basin Colorado Delta, Garfield, Gunnison, Mesa, Moffat, Pitkin, Rio Blanco, and Routt
    Utah Carbon, Duchesne, Emery, Grand, Sanpete, Sevier, Uintah, Utah, and Wasatch

    Our data include shipments to blank counties that originated in 13 states (generally because the plant purchases coal from a blender that uses coal purchased from multiple mines). In such cases, we assign the shipments to a coal basin based on the origin state and, when appropriate, other factors. We assign shipments originating in Alabama to southern Appalachia because it is the only coal basin in the state. Similarly, we assign shipments originating in Maryland, Ohio, and Pennsylvania to northern Appalachia, and we assign all shipments originating in Illinois and Indiana to the Illinois Basin. Although Tennessee overlaps both central Appalachia and southern Appalachia, coal has not been produced in southern Appalachia since 1990, so we assign all shipments to central Appalachia. In addition, we assign all shipments originating in Utah to the Uinta Basin even though, in theory, a small number of the shipments originated in coal mines that are not technically part of the basin.

    For coal with a missing county that originated in Kentucky, we assign all shipments with an average sulfur content greater than 2.4% to the Illinois Basin and the others to central Appalachia. For coal with a missing county that originated in West Virginia, we assign all shipments with an average sulfur content greater than 1.6% to northern Appalachia and the others to central Appalachia. For coal with a missing county that originated in Wyoming, we only assigned shipments with an average energy content less than or equal greater 17.9 million British thermal units per ton to the Powder River Basin.

    Because cost data collected on Form EIA-923 are confidential, we had to ensure that we suitably aggregated rates to prevent any individual rates from being observed or inferred. To meet this requirement, we withheld rates where the number of plants within a particular aggregation of rates was less than three.

    Contacts:

    David Fritsch
    Phone: 202-287-6538
    Email: David Fritsch

    Jonathan Church
    Phone: 202-586-7693
    Email: Jonathan Church

    MIL OSI USA News –

    January 31, 2025
  • MIL-OSI: Siebert.SPS Expands Leadership Team with Key Industry Experts to Serve Companies of All Sizes

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Jan. 30, 2025 (GLOBE NEWSWIRE) — Siebert Stock Plan Services (Siebert.SPS), a division of Siebert Financial Corp. (NASDAQ: SIEB), today announced that Daniel Coyle and Hunter Sattich have joined its leadership team. With decades of combined expertise in finance and equity compensation, their arrival bolsters Siebert.SPS’s ability to provide customized, high-touch solutions for businesses of all sizes, especially those often underserved by larger, consolidated providers.

    “Dan and Hunter bring unparalleled expertise and a hands-on approach that perfectly align with Siebert.SPS’s mission to offer tailored equity compensation solutions,” said Eric Tassell, President and Head of Stock Plan Services at Siebert, highlighting the significance of these hires. “Our unique positioning enables us to support companies of all sizes, from emerging firms to established enterprises, with a level of personalization and innovation that larger providers can’t match.”

    Hunter Sattich, a Certified Equity Professional (CEP) with more than 30 years of industry experience, has built a reputation for streamlining equity plan processes, optimizing workflows, and driving superior client outcomes. His expertise lies in helping companies navigate complex stock plan challenges while delivering seamless participant experiences.

    “I’ve seen firsthand how many businesses are overlooked by large providers,” said Sattich. “Siebert.SPS’s commitment to addressing these gaps and delivering impactful solutions is what excites me most about this opportunity.”

    Daniel Coyle, with more than 20 years of experience in finance and compensation, specializes in crafting tailored strategies that address the unique needs of public companies. Known for his consultative approach, Dan excels at aligning operational efficiencies with strategic goals, ensuring that clients receive equity solutions that drive measurable success.

    “Siebert.SPS offers a refreshing approach to equity compensation—one that prioritizes flexibility and client-focused results,” said Coyle. “I’m thrilled to be part of a team redefining how companies, big and small, manage their stock plans.”

    John J Gebbia Senior, CEO of Siebert Financial, emphasized the strategic importance of these additions:
    “Dan and Hunter are invaluable additions to our team,” said John J. Gebbia, Sr., CEO of Siebert Financial. “Their expertise and client-first mentality will help us expand Siebert.SPS’s reach and redefine what’s possible in equity compensation. This is a pivotal step in our ongoing mission to deliver best-in-class solutions to companies of all sizes.”

    About Siebert.SPS
    Siebert Stock Plan Services (Siebert). SPS partners with publicly traded companies to deliver tailored equity compensation solutions. Focusing on technology-driven platforms and exceptional customer service, Siebert.SPS supports businesses in streamlining their stock plan administration, ensuring compliance, and maximizing participant engagement.

    About Siebert Financial Corp.
    Siebert is a diversified financial services company and has been a member of the NYSE since 1967, when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.

    Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, and StockCross Digital Solutions, Ltd, and Gebbia Entertainment LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services, including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions, in addition to entertainment and media productions. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at www.siebert.com.

    Cautionary Note Regarding Forward-Looking Statements
    The statements contained in this press release that are not historical facts, including statements about our beliefs and expectations, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by, or that include the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.

    These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of the management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns resulting from extraordinary events; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert’s business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A – Risk Factors of Siebert’s Annual Report on Form 10-K for the year ended December 31, 2023, and Siebert’s filings with the SEC.

    Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether as a result of new information, future events, or otherwise, except to the extent required by the federal securities laws.

    Media Contact:
    Deborah Kostroun, Zito Partners
    deborah@zitopartners.com
    +1 (201) 403-8185

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1fe733b9-5a10-411c-a0da-a8b372e1b53d

    The MIL Network –

    January 31, 2025
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