Category: Latin America

MIL-OSI Global: Donald Trump likes tariffs, but they damage the economies of everyone involved

Source: The Conversation – UK – By Muhammad Ali Nasir, Associate Professor in Economics, University of Leeds

Donald Trump is calling April 2 2025 “Liberation Day”. For the rest of the world it will just be the day when they discover the details of his latest round of tariffs.

Those tariffs have already become the stand out economic feature of Trump’s second term in the White House. And frankly, it’s been hard to keep track.

There have been tariffs imposed and then lifted, tariffs with exemptions, tariffs on metal and tariffs on wood. Now Trump has announced a 25% tariff on all imported cars to take effect on April 2, when he also plans to reveal his “reciprocal tariffs” on other trading partners.

Trump thinks the US has been “ripped off for decades by nearly every country on Earth”. He also counts “tariff” as his favourite word, and a tool which is “”very powerful, both economically and in getting everything else you want”.

Whether or not the president gets everything he wants remains to be seen. But the frequent changes in tariff policies over the past few weeks have definitely created uncertainty in trade with the US, which research shows can be harmful in itself.

And the evidence clearly shows that the reasons for the US trade deficit are more to do with domestic issues such as productivity and fiscal discipline than international trade.

So what are the possible outcomes if Trump continues to pursue this policy?

The worst case

Our analysis shows that in the worst-case scenario, non-reciprocated tariffs on Canada and Mexico could result in a significant fall in GDP for all three countries. Canada would be the worst affected (a dip of 16.5%) followed by Mexico (6.6%). GDP in the US would fall by 0.19%.

Canada is particularly dependent on selling its oil and gas – and the US is heavily reliant on its northern neighbour for its fuel supply. In 2024, total trade between the two nations reached US$762.1 billion (£589 billion).

The impact on Mexico would also be devastating. Over 40% of the country’s GDP is derived from exports – and 80% of those exports go to the US.

High tariffs and subsequent retaliations would quickly reduce the confidence of companies on both sides. Costs passed on to consumers would reduce demand and then profits, forming a vicious cycle of economic recession. Trade protectionism could then rise further, potentially even turning a recession into a depression

Middle ground

We also found that even if the economic effects of tariffs were less severe, no nation involved would manage to achieve GDP growth. And Canada and Mexico would still suffer the most.

In this situation, some kind of stalemate could emerge, where tariffs lead to rising inflation, reducing the political appetite for escalation. Trade friction would likely continue until 2026, when a renegotiation of the trade agreement between the US, Mexico and Canada is due to take place.

Best case

Even under the best-case scenario, with reduced economic impact, GDP for all three countries still falls. Put simply, imposing tariffs creates no winners.

Since the tariff has been seen as a bargaining chip, the best option for Canada and Mexico will be to enter trade negotiations with the US, aiming for a balanced trade policy that is beneficial to all parties.

Read more:
Donald Trump is planning more trade barriers if he becomes president – but they didn’t work last time

In the meantime, they should cooperate with other economies affected by US tariffs – such as the EU and China – in the hope that this encourages Trump to make concessions.

All three countries could then revert to their original low-tariff levels before the trade war. This constitutes the optimal scenario within our projected framework – and could be what happens eventually.

US treasury secretary, Scott Bessent, has said that Trump’s second favourite word is “reciprocal”. If that’s true, then it is possible that the Trump administration has the overall intention of cooling down the intensity of this trade war ahead of negotiating a new version of its trade deal with Canada and Mexico – and a new one with China too.

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

– ref. Donald Trump likes tariffs, but they damage the economies of everyone involved – https://theconversation.com/donald-trump-likes-tariffs-but-they-damage-the-economies-of-everyone-involved-252322

MIL OSI – Global Reports –

April 1, 2025
MIL-OSI: New Stratus Energy Announces Pricing and Upsizing of Previously Announced Concurrent Offerings

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, March 31, 2025 (GLOBE NEWSWIRE) — New Stratus Energy Inc. (TSX.V – NSE) (“New Stratus”, “NSE” or the “Corporation”) is pleased to announce that it has priced and increased the size of its previously announced brokered private placement offering of (i) subscription receipts (the “Subscription Receipts” and the “Subscription Receipt Offering”) and (ii) common shares (the “Common Shares” and the “Common Share Offering”, and together with the Subscription Receipt Offering, the “Concurrent Offerings”).

The Concurrent Offerings are being co-led by Ventum Financial Corp. (“Ventum”) and Cormark Securities Inc. (“Cormark” and together with Ventum, the “Lead Agents”) on their own behalf, and in respect of the Subscription Receipt Offering, on behalf of a syndicate of agents (the “Agents”).

Pursuant to the Concurrent Offerings, New Stratus intends to issue (i) 572,000,000 Subscription Receipts at a price of C$0.30 per Subscription Receipt (the “Offering Price”) for gross proceeds of up to approximately US$120.0 million (C$171.6 million); and (ii) 33,385,400 Common Shares at the Offering Price per Common Share for gross proceeds of up to approximately US$7.0 million (C$10.0 million). As a result of the upsized Concurrent Offerings, New Stratus does not expect to require any additional subordinate or convertible debt financing.

The Concurrent Offerings are expected to close on or about April 10, 2025, subject to TSXV approval and other customary closing conditions.

In all other respects, the terms of the Concurrent Offerings and use of proceeds therefrom will remain as previously announced.

Contact Information

Jose Francisco Arata
Chairman & Chief Executive Officer
jfarata@newstratus.energy

Wade Felesky
President & Director
wfelesky@newstratus.energy

Mario Miranda
Chief Financial Officer
mmiranda@newstratus.energy – (647) 498-9109

Note on Currency and Exchange Rates

In this news release, references to “C$” or “$” are to Canadian dollars and references to “US$” are to United States dollars. In this news release, the Corporation has used a currency exchange rate of US$1.00 = C$1.43.

Forward-Looking Information

Certain information set forth in this news release constitutes “forward-looking statements”, and “forward-looking information” under applicable securities legislation (collectively, “forward-looking statements”). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements may be identified by the use of conditional or future tenses or by the use of words such as “will”, “expects”, “intends”, “may”, “should”, “estimates”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions, including variations thereof and negative forms. Forward-looking statements in this news release include, among others, the pricing, terms, timing and completion of the Concurrent Offerings, and the amount thereof. Forward-looking statements are based on the Corporation’s current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them.

In respect of the forward-looking statements contained herein, the Corporation has provided them in reliance on certain key expectations and assumptions made by management, including expectations and assumptions concerning the receipt of all approvals and satisfaction of all conditions to the completion of Concurrent Offerings, the availability of debt and equity financing on terms acceptable to the Corporation, prevailing weather conditions, prevailing legislation affecting the oil and gas industry, commodity prices and exchange rates.

Although NSE believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because NSE can give no assurance that they will prove to be correct. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks); risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities; the impact of general economic conditions in Canada and Ecuador; prolonged volatility in commodity prices; the risk that the new U.S. administration imposes tariffs affecting the oil and gas industry in Ecuador or globally, and that such tariffs (and/or retaliatory tariffs in response thereto) adversely affect the demand for the Corporation’s production, or otherwise adversely affects the Corporation’s business or operations; the risk that Oriente Blend oil prices are lower than anticipated; determinations by OPEC and other countries as to production levels; the risk of changes in government policy on resource development; industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced; the timing for conducting planned operations and the results of such operations, including flow rates and resulting production; the availability of the requisite personnel and equipment to conduct operations; the ability to successfully integrate operations and realize the anticipated benefits of acquisitions; the ability to increase production, and the anticipated cost associated therewith; failure of counterparties to perform under contracts; changes in currency exchange rates; interest rate fluctuations; the ability to secure adequate equity and debt financing; and management’s ability to anticipate and manage the foregoing factors and risks.

There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. New Stratus undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. Actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits may be derived therefrom.

General Advisory

This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States, nor may any securities referred to herein be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and the rules and regulations thereunder. The securities referred to herein have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, the securities may not be offered or sold within the United States except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The MIL Network –

April 1, 2025
MIL-OSI USA: Spectacular waterfalls are an often-hidden gem of Yellowstone National Park
Source: US Geological Survey

Yellowstone Caldera Chronicles is a weekly column written by scientists and collaborators of the Yellowstone Volcano Observatory. This week’s contribution is from Shaul Hurwitz, research hydrologist with the U.S. Geological Survey.

“After gathering a sufficient supply of water, they commence wearing their channels down into the volcanic rocks, which continue to grow deeper as they descend. Each one has its water-fall, which would fill an artist with enthusiasm.” So wrote Ferdinand V. Hayden, who explored Yellowstone starting in 1871 (Hayden report of 1872, p. 75).

Yellowstone National Park abounds in waterfalls. But how do they form, and why are there so many in the Yellowstone region?

Schematic illustration of waterfall formation in which a hard rock that is more resistant to erosion is atop a softer rock that is less resistant to erosion. Source: Wikimedia (https://commons.wikimedia.org/wiki/File:WaterfallCreationDiagram.svg).

Although there are several definitions for a waterfall, a common one is “a very steep commonly vertical fall of some magnitude in a river course”. Various classifications of waterfalls were developed based on their origin and characteristics, such as height and rock type. The most common model to explain waterfall formation suggests that they form where rock units with different hardness meet laterally or vertically. If a stream flows over harder rocks that are more resistant to erosion than the rocks immediately downstream, a ledge or bench will form across the streambed because the softer and less resistant rocks are worn away faster. As the ledge becomes higher, the softer downstream rocks will erode faster. This undercutting of the less-resistant rock causes the overhanging rock to shear off, and typically a plunge pool at the base of a waterfall is created where the water impacts.

The highest waterfall in the world is Angel Falls in Venezuela (3,212 feet, or 979 meters), and in the United States it is Oloʻupena Falls on the Island of Molokai in Hawaii (2,953 feet, or 900 meters). There are 52 sites In UNESCO’s World Heritage List with waterfalls, of which three are in the United States (in Yellowstone, Grand Canyon, and Yosemite National Parks). A USGS dataset and a US Fish and Wildlife Service waterfall database contain information about waterfalls and rapids for the continental United States.

Photo of Fairy Falls in the Lower Geyser Basin, near Grand Prismatic Spring. Yellowstone National Park photo by Jacob W. Frank, October 28, 2018.

The rivers flowing in Yellowstone National Park are fed by large volumes of water from snow and rain falling over the Yellowstone Plateau. Many stretches of these rivers are nearly flat bottomed, but in some sections the rivers contain narrow valleys where deep gorges were carved. Some waterfalls in Yellowstone formed where rocks with differences in hardness meet in these deep gorges, while others formed at the edges of thick rhyolite lava flows. There are approximately 350 waterfalls of more than 15 feet in the park. Many of these can be viewed by hiking a short distance, for example, Gibbon Falls near Madison Junction, Tower Falls near Tower Junction, Mystic Falls near Biscuit Basin, and Fairy Falls near Grand Prismatic Spring(the latter named by Colonel Barlow, who explored the Yellowstone region 1871 and 1872, “from the graceful beauty with which the little stream dropped down a clear descent of 250 feet” (Hayden report of 1872, p.112).

There are two prominent waterfalls in the Grand Canyon of the Yellowstone: the Upper (33 meters, or 109 feet) and the Lower Falls (94 meters, or 308 feet). The Lower Falls is the tallest waterfall in the park and is significantly taller that the total height of Niagara Falls (51 meters, or 167 feet for the Canadian and American Falls). The Upper and Lower Falls can be viewed from several locations along the rim of the Grand Canyon of the Yellowstone.

Like many prominent waterfalls, those in the Grand Canyon of the Yellowstone exist because rock layers change laterally from soft to hard. At the end of the last glacial period, about 14,000 years ago, ice dams at the mouth of Yellowstone Lake failed, and the large volumes of water that were released caused massive floods downstream. These floods led to erosion of the present-day canyon, which is a classic, narrow, V-shaped valley, indicative of erosion by rivers rather than by glaciation (which tends to form broad, U-shaped valleys). The canyon is approximately 24 miles (39 kilometers) long, and its depth is between 800 and 1,200 feet (240 and 370 meters). The thick rhyolite flows at the base of the canyon were hydrothermally altered and weakened by hot groundwater. After the canyon formed, the weakened rhyolite was less resistant to flow of the Yellowstone River downstream from the falls.

Photo of Colonnade Falls on the Bechler River in southwest Yellowstone National Park, also called the “Cascade corner”. Yellowstone National Park photo by Diane Renkin, September 15, 2012.

A large number of impressive waterfalls are in Yellowstone’s southwest corner, which is unofficially named the “Cascade Corner” as a result. Snow accumulation in this area is the highest across the Yellowstone Plateau, and most of the rivers and creeks mainly drain the Pitchstone Plateau, the site of the last volcanic eruption in Yellowstone. To see some of these remote waterfalls requires long hikes. In the Bechler River drainage, these include Colonnade (67 feet, or 20 meters), Albright (260 feet, or 79 m), and Ouzel (230 feet, or 70 meters) Falls. Bechler River was named after Gustavus Bechler, a surveyor and cartographer with the 1872 expedition led by Ferdinand Hayden, and Albright Falls was named after Horace Albright, an assistant and acting director of the National Park Service and later superintendent of Yellowstone National Park. Some other notable waterfalls in the “Cascade Corner” include Silver Scarf (250 feet, or 76 meters) and Dunanda (150 feet, or 46 meters) Falls along Boundary Creek, and Union Falls (250 feet, or 76 m) on Mountain Ash Creek.

When planning a visit to explore Yellowstone National Park’s many wonders, consider taking the time to view some of its many waterfalls. Perhaps you might be able to identify different rocks on either side of the waterfall, or perhaps see the edge of a thick rhyolite lava flow. If you are adventurous and ready to visit the park’s backcountry (having obtained the necessary permit, of course), you will be rewarded by many waterfalls with significantly fewer people. In the “Cascade Corner,” where the annual precipitation is more than 50 inches (about 130 centimeters), you will be challenged by many stream crossings and a pesky mosquito population in the early summer months. Most hikes in that area start at the Bechler ranger station trailhead.

Additional Reading
- The Guide to Yellowstone Waterfalls and Their Discovery (2000) by Paul Rubinstein, Lee H. Whittlesey, Mike Stevens
- Waterfalls of Yellowstone National Park by Charles W. Maynard (1996)
- Ribbons of Water: The Waterfalls and Cascades of Yellowstone National Park (1984) by John Barber
- Goudie, A.S., 2020. Waterfalls: forms, distribution, processes and rates of recession. Quaestiones Geographicae, 39, 59-77.
- Final Sculpting of the Landscape based on The geologic story of Yellowstone National park by William R. Keefer, U.S. Geological Survey Bulletin 1347, 1971
- Wikipedia sites: List of waterfalls in Yellowstone National Park, Yellowstone River Falls, Grand Canyon of the Yellowstone, and List of world’s waterfalls by height
MIL OSI USA News –
March 31, 2025
MIL-OSI: Enlight Announces the Financial Close for Project Country Acres

Source: GlobeNewswire (MIL-OSI)

The debt financing package includes $773 million of construction loans

Country Acres consists of 403 MW of solar generation and 688 MWh of energy storage capacity, and is expected to reach full COD during the second half of 2026

TEL AVIV, Israel, March 31, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, announced today that the Company has received debt financing (the “Debt Financing”) for project Country Acres (“Country Acres” or “the Project”), located near Sacramento, California, USA.

As part of the Debt Financing, Enlight, through its subsidiary Clenera Holdings LLC, has secured construction financing commitments with a consortium of four leading global banks including BNP Paribas Securities Corp, Crédit Agricole, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale (Nord/LB), totaling $773 million.Upon the Project’s COD, the construction loan is expected to convert into a $376 million term loan.

The Project has a 30-year solar generation busbar PPAand 20-year energy storage busbar purchase agreement with the Sacramento Municipal Utility District (“SMUD”).The Company expects to conclude a tax equity transaction during the construction period, noting that the Project has met the terms required to achieve safe harbor status for beginning of construction.

Country Acres consists of 403 MW solar generation and 688 MWh of energy storage capacity, and is expected to reach full COD during the second half of 2026. Construction at the 966-acre site has already begun, and all procurement contracts have been signed. The Project is expected to provide clean electricity equivalent to the average annual consumption of approximately 80,000 California households.

“We are grateful to once again be partnering with leading banks on one of our largest projects,” said Adam Pishl, President and CEO of Clenera. “The American-generated, reliable energy produced at Country Acres will fueling the homes and businesses in central California for decades to come.”

After the completion of Apex in Montana and Atrisco in New Mexico, Country Acres is one of several major solar and energy storage projects that Enlight and Clenera are now constructing in the U.S. These include Quail Ranch (128 MW and 400 MWh) and Roadrunner (290 MW and 940 MWh). Along with additional projects planned to be built in the years to come, these projects are driving Enlight’s massive expansion into the U.S. renewable energy market. This is best illustrated by the growing run rate of Enlight’s U.S. revenue base, which is expected to reach $195-207 million annually after the completion of the projects now under construction.

The Company’s next projects in the western Unites States are Snowflake (600 MW and 1,900 MWh) and CO Bar (1,211 MW and 824 MWh). The two mega projects have almost completed their development phase, and are scheduled to begin construction in the coming months. Each of the two projects employs a grid connection of 1.0 GW, one of the largest in the US. These grid connections generate potential additional development opportunities in the future through the Company’s “Connect and Expand” strategy, which seeks to leverage existing interconnect infrastructure with additional generation capacity.

“Country Acres is the second financial closing that we have accomplished with the same group of lenders in the past three months, illustrating the extent of our partnership and cooperation,” said Ilan Goren, GM of Enlight USA. “We look forward to further deepening this relationship as Enlight and Clenera continue the build out of our large US project portfolio.”

“After the successful closing of Roadrunner, BNP Paribas is proud to once again support Clenera and Enlight as Coordinating Lead Arranger on their new landmark project financing of Country Acres,” said Aashish Mohan, Co-Head of Energy, Resources & Infrastructure Americas, at BNP Paribas. “Supporting premier platforms like Clenera squarely fits our energy infrastructure ambitions, and we look forward to growing our partnership with Clenera as they continue to execute on their high-quality U.S. renewables pipeline.”

Nasir Khan, Managing Director & Head of Real Assets and Global Trade Americas at Natixis Corporate & Investment Bankng said, “Natixis is thrilled to close our second transaction with Clenera on another robust renewable energy project financing, which aligns perfectly with our commitment to the energy transition. As Clenera continues to expand its pipeline of large-scale energy projects, we look forward to further strengthening our partnership and providing innovative capital solutions to meet its long-term financial needs.”

“CACIB is proud to partner with Clenera and Enlight once again on a landmark project which will deliver reliable, clean power to SMUD, underscoring our collective objective to provide long term sustainable and affordable power,” said Julien Tizorin – Head of Power and New Energy at CACIB

Sondra Martinez, Managing Director and Head of Originations Nord/LB’s said “Nord/LB is extremely excited to support Clenera and Enlight on the Country Acres financing. This deal demonstrates our commitment to supporting recurring clients as they advance the energy transition and provide affordable power to local communities.”

About Enlight Renewable Energy

Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, win energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023. Learn more at www.enlightenergy.co.il.

Investor Contact

Yonah Weisz
Director IR
investors@enlightenergy.co.il

Erica Mannion or Mike Funari
Sapphire Investor Relations, LLC
+1 617 542 6180
investors@enlightenergy.co.il

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

The MIL Network –

March 31, 2025

MIL-OSI: Westport Reports Fourth Quarter and Full Year 2024 Results

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, March 31, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport”) (TSX: WPRT / Nasdaq: WPRT) today reported financial results for the fourth quarter and year ended December 31, 2024, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

“The past year has been transformative for Westport as we sharpened our strategic focus, advanced our clean transportation technologies, and enhanced operational efficiencies. We have made significant strides in aligning our operations with our competitive strengths, improving margins, and reinforcing our commitment to delivering cost-effective solutions that drive decarbonization in the transportation sector. We have also transformed our culture to be one built on discipline and excellence, driving a high-performance mindset in everything we do.

The launch of Cespira, our joint venture with Volvo Group, was a key milestone for us in 2024. Cespira is committed to accelerating the commercialization of HPDI™ technology with carbon-neutral fuels like hydrogen and renewable natural gas. This partnership underscores the industry’s recognition of HPDI as a leading solution to enable affordable, sustainable heavy transport.

Additionally, we are taking bold steps to streamline our operations and strengthen our financial footing, allowing us to focus on areas with the highest growth potential. A prime example of this strategic realignment is our recently announced proposed divestiture of the Light-Duty business. This decision is expected to enable us to concentrate fully on providing affordable solutions for hard to decarbonize mobility applications like long haul and heavy-duty trucking that can take advantage of the unique, practical and affordable HPDI technology and our world class high-pressure components and systems technologies and scalable alternative fuel solutions, ensuring that we remain at the forefront of emissions-reducing innovations that are cost effective.

Looking ahead, we are focused on scaling our alternative fuel-based solutions, including advancements in CNG, RNG, and hydrogen systems, while navigating a rapidly evolving transportation landscape. Hydrogen remains a critical component of the future but, in the meantime, we are delivering practical, commercially viable low-carbon solutions today such as natural gas and renewable natural gas solutions which, in some cases, can represent a lower total cost of ownership than incumbent technologies. Driven by these environmental and economic considerations we are seeing a global resurgence of interest in the heavy-duty transport sector towards utilizing natural gas as an alternative to diesel. While we will continue to invest in technology, we are positioned to take advantage of markets that are embracing products enabled by our years of investment in innovation as the world pivots to more practical and cost-effective solutions to decarbonize.

We are committed to providing sustainable, high-performance solutions that help our customers achieve their commercial and environmental goals, now and for years to come.”

Dan Sceli, Chief Executive Officer

2024 Highlights

Revenue was $302.3 million for 2024 and $75.1 million for the fourth quarter. Full year results were primarily driven by the transition of the Heavy-Duty OEM business into Cespira, partially offset by an increase in revenue in our Light-Duty segment. Cespira earned $22.8 million for the three months ended December 31, 2024 and $43.1 million for the period from June 3, 2024 through to December 31, 2024.
Net loss for the year ended December 31, 2024 was $21.8 million, or $1.27 loss per share, compared to net loss of $49.7 million for the prior year. Net loss for the fourth quarter in 2024 was $10.1 million, or $0.59 loss per share, compared to net loss of $13.9 million, or $0.81 loss per share, for the same period in 2023. For the year, the net positive change was primarily a result of improvements in gross margin, a $15.2 million gain on deconsolidation of the HPDI business in the formation of the joint venture with Volvo Group on June 3, 2024, reductions in operating expenditures and depreciation and amortization expense due to continuation of the HPDI business in Cespira, partially offset by higher income tax expense and foreign exchange losses in the year.
Adjusted EBITDA¹ loss of $11.2 million, compared to a loss of $21.5 million in the prior year. Adjusted EBITDA for the fourth quarter was a loss of $1.8 million.
Cash and cash equivalents were $37.6 million for the year ended December 31, 2024. Cash provided by operating activities during the year was $7.2 million.
Announced the closing the HPDI joint venture, Cespira, with Volvo Group, working together to accelerate the commercialization and global adoption of the HPDI™ fuel system technology for long-haul and off-road applications.

¹ Adjusted earnings before interest, taxes and depreciation is a non-GAAP measure. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES in Westport’s Management Discussion and Analysis for the reconciliation.

Consolidated Results
($ in millions, except per share amounts)			Over / (Under) %			Over / (Under) %
	4Q24	4Q23	Over / (Under) %	FY24	FY23	Over / (Under) %
Revenue	$75.1	$87.2	(14)%	$302.3	$331.8	(9)%
Gross Profit⁽²⁾	14.3	8.0	79%	57.6	48.9	18%
Gross Margin⁽²⁾	19%	9%	—	19%	15%	—
Income (loss) from Investments Accounted for by the Equity Method⁽¹⁾	(2.0)	0.1	(2,100)%	(5.4)	0.8	(775)%
Net Loss	(10.1)	(13.9)	27%	(21.8)	(49.7)	56%
Net Loss per Share – Basic	(0.59)	(0.81)	27%	(1.27)	(2.90)	56%
Net Loss per Share – Diluted	(0.59)	(0.81)	27%	(1.27)	(2.90)	56%
EBITDA ⁽²⁾	(6.1)	(10.9)	44%	(6.6)	(35.9)	82%
Adjusted EBITDA ⁽²⁾	(1.8)	(10.0)	82%	(11.2)	(21.5)	48%

⁽¹⁾This includes income or loss primarily from our investments in Cespira and Minda Westport Technologies Limited
⁽²⁾Gross margins, EBITDA and Adjusted EBITDA are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures.

Segment Information

Light-Duty Segment

Revenue for the three months and year ended December 31, 2024 was $68.0 million and $262.2 million, respectively, compared with $63.4 million and $263.6 million for the three months and year ended December 31, 2023.

Light-Duty revenue increased by $4.6 million for the three months ended December 31, 2024 as compared to the prior year. This was primarily driven by a significant increase in sales of LPG fuel system solutions to a global Original Equipment Manufacturer (“OEM”) for their Euro 6 vehicle applications in our light-duty OEM business and an increase in delayed OEM business, partially offset by lower revenues in other business lines.

Light-Duty revenue decreased by $1.4 million for the year ended December 31, 2024 compared to the prior year. This was primarily driven by a decrease in sales in our delayed OEM business in the first half of 2024, decrease in sales to customers in developing markets, and our fuel storage business. This was partially offset by the aforementioned increase in sales of LPG fuel system solutions in our light-duty OEM business.

Gross profit increased by $2.0 million to $14.0 million, or 21% of revenue for the three months ended December 31, 2024, as compared to $12.0 million, or 19% of revenue, for the same prior year period. This was primarily driven by a change in sales mix with an increase in sales to European customers and a reduction in sales to developing regions along with an increase in sales volumes.

Gross profit for the year ended December 31, 2024 increased by $6.3 million to $55.4 million, or 21% of revenue, compared to $49.1 million, or 19% of revenue, for the prior year. This was primarily driven by a change in sales mix with an increase in sales to European customers and a reduction in sales to developing regions. The segment’s manufacturing operations continues to implement operational improvement initiatives lowering its manufacturing overhead costs in the year. For the year ended December 31, 2024, Light-Duty recorded inventory write-downs of $2.1 million related to our restructuring activities in India for $0.9 million and $0.5 million related to components for markets that we have exited, and the remainder due to our periodic analysis of excess and obsolete inventory.

Westport began supplying its Euro 6 LPG fuel system to its global OEM customer in early 2024. This production supply agreement has been instrumental in improving revenue and delivering higher margins, which more than offset the decline in revenue as a result of a key delayed OEM customer continuing to work through their inventory. Production for the Euro 7 LPG fuel system for the same global OEM customer is anticipated to begin mid-to-late 2025.

High-Pressure Controls & Systems Segment

Revenue for the three months and year ended December 31, 2024 was $1.4 million and $8.8 million, respectively, compared with $2.5 million and $12.0 million for the three months and year ended December 31, 2023. Revenue for the three months ended December 31, 2024 decreased by $1.1 million compared to the prior year period. Revenue for the year ended December 31, 2024 decreased $3.2 million compared to the prior year.

The decrease in revenue for the three months and year ended December 31, 2024 compared to the prior year periods continues to be primarily driven by the general slowdown in hydrogen infrastructure development, leading to a slower adoption of automotive and industrial applications powered by hydrogen.

Gross profit for the three months ended December 31, 2024 decreased by $0.4 million to nominal, or 0% of revenue, compared to $0.4 million, or 16% of revenue, for the same prior year period. This was primarily driven by lower sales volumes, increasing the per unit manufacturing costs in the quarter.

Gross profit for the year ended December 31, 2024 decreased by $1.3 million to $1.5 million, or 17% of revenue, compared to $2.8 million, or 23% of revenue, for the prior year. This was primarily driven by decrease in sales volume for the year. The segment recorded $0.8 million in inventory write-downs in the year due to slow-moving inventory.

Heavy-Duty OEM Segment

Revenue for the three months and year ended December 31, 2024 includes revenue until the closing of the transaction to form Cespira, which occurred on June 3, 2024. Revenue for the three months and year ended December 31, 2024 was $5.7 million and $31.3 million, respectively, compared with $21.3 million and $56.2 million for the three months and year ended December 31, 2023.

The decrease in revenue for the three months and year ended December 31, 2024 is a result of the continuation of the business in Cespira. Refer to the “Selected Cespira Financial Information” for more information on the performance of the business. Revenue earned in the three months ended December 31, 2024 reflects revenue earned from a transitional services agreement in place with Cespira that we expect to expire by the end of Q2 2026.

Gross profit for the three months ended December 31, 2024 increased by $4.7 million to $0.3 million, or 5% of revenue, compared to negative $4.4 million or negative 21% of revenue, for the three months ended December 31, 2023. The Heavy-Duty OEM segment was impacted by a $4.5 million inventory write-down in the prior year period.

Gross profit increased by $3.7 million to $0.7 million, or 2% of revenue, for the year ended December 31, 2024 compared to negative $3.0 million, or negative 5% of revenue, for the prior year. Heavy-Duty OEM recorded $0.4 million in inventory write-downs in the year. The segment was impacted by the aforementioned inventory write-down of $4.5 million in the prior year.

Selected Cespira Financial Information

We account for Cespira using the equity method of accounting. However, due to its significance to our long-term strategy and operating results, we disclose certain financial information from Cespira in notes 8 and 22 in our consolidated financial statements for the year ended December 31, 2024 and the period from June 3, 2024 to December 31, 2024.

The following table sets forth a summary of the financial results of Cespira for the three months ended December 31, 2024 and the period between June 3, 2024 to December 31, 2024:

(in millions of U.S. dollars)	Three months ended December 31,						Change					Year ended December 31,						Change
	2024			2023			$			%		2024			2023			$			%
Revenue	$	22.8		$	—		$	22.8		—	%	$	43.1		$	—		$	43.1		—	%
Gross profit		1.4			—			1.4		—	%		0.5			—			0.5		—	%
Gross margin¹		6	%		—	%							1	%		—	%
Operating loss		(4.8	)		—			(4.8	)	—	%		(12.1	)		—			(12.1	)	—	%
Net loss attributable to the Company		(2.6	)		—			(2.6	)	—	%		(6.7	)		—			(6.7	)	—	%

¹Gross margin is non-GAAP financial measure. See the section ‘Non-GAAP Financial Measures’ for explanations and discussions of these non-GAAP financial measures or ratios.

Cespira revenue was $22.8 million for the three months ended December 31, 2024. For the prior year period, the Heavy-Duty OEM segment, which included our HPDI business, earned $21.3 million. This was primarily driven by an increase in HPDI fuel systems sold in the period.

Cespira gross profit was $1.4 million for the three months ended December 31, 2024. For the prior year period, the Heavy-Duty OEM segment had negative $4.4 million in gross profit primarily driven by the aforementioned $4.5 million inventory write-down in the prior year period.

Cespira incurred operating losses of $4.8 million for the three months ended December 31, 2024. For the prior year quarter, the Heavy-Duty OEM had operating losses of $9.3 million. Aside from the aforementioned inventory write-down in the prior year period, the Heavy-Duty OEM had comparable operating losses compared to Cespira.

As previously announced, Westport and Weichai are parties to a technology development and supply agreement which contains an obligation for Weichai to order, and Westport to supply, certain volumes of HPDI fuel system components prior to December 31, 2024. Significant orders for HPDI fuel system components against this agreement were not received prior to year-end. Westport and Cespira continue to collaborate with Weichai Power Co. Ltd (“Weichai Power”) on an HPDI fuel system equipped version of the Weichai Power engine platforms. The parties are currently discussing the next stages of this work and the obligations of each party going forward.

Liquidity and Going Concern

In addition, as disclosed in Westport Management Discussion & Analysis, for the year ended December 31, 2024, we continue to sustain operating losses and use cash to support our business activities. Cash provided by operating activities was $7.2 million for the year ended December 31, 2024 was primarily driven by reductions in working capital.

As at December 31, 2024, we had cash and cash equivalents of $37.6 million and long-term debt of $33.7 million, of which $14.7 million was current. Based on our projected capital expenditures, debt servicing obligations and operating requirements under our current business plan, we are projecting that our cash and cash equivalents will not be sufficient to fund our operations through the next twelve months from the date of the issuance of this MD&A. These conditions raise substantial doubt about Westport’s ability continue as a going concern within one year after the date our December 31, 2024 Consolidated Financial Statements are issued.

We plan to improve our liquidity position by selling certain subsidiaries in Europe and Argentina which comprise substantially all the assets and liabilities reported within the Light-Duty segment and continue our cost reduction initiatives. On March 30, 2025, we entered into a share purchase agreement (“SPA”) with a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a Netherlands based investment firm supported by Ramphastos Investment Management B.V. a prominent Dutch venture capital and private equity firm, to sell all of the issued and outstanding shares of Westport Fuel Systems Italia S.r.l for a base purchase price of $73.1 million (€67.7 million), subject to certain adjustments and potential earnouts of up to an estimated $6.5 million (€6.0 million) if certain conditions are achieved, in accordance with the terms of the Share Purchase Agreement. If we are successful in closing the sale, we will receive sufficient cash to fund our operations for the next twelve months and alleviate the risk of substantial doubt identified. As of the date of issuance of our December 31, 2024 financial statements, we are seeking shareholder approval of the plan to complete the sale of these businesses to the buyer. As such, there can be no assurances that Westport will be successful in obtaining sufficient funding. Accordingly, we concluded under the accounting standards that these plans do not alleviate the substantial doubt about Westport’s ability to continue as a going concern.

Divestment of the Light-Duty Business and 2025 Outlook

Westport recently announced the proposed divestment of its Light-Duty business, which includes the light-duty OEM, delayed OEM, and independent aftermarket businesses (the “Transaction”). The Transaction is designed to focus the Company’s strategy and streamline its operations allowing Westport to direct its energy on solution to address hard to decarbonize sectors like long-haul, heavy-duty trucking and off-road applications that can take advantage of Cespira and our High-Pressure Controls & Systems technology – where Westport sees the largest opportunities to grow and where the Company has a unique and differentiated offering generating interest with customers as the world transitions to a more practical and easier to adopt approach to decarbonization.

Highlights of the Transaction include:

Provides immediate up front proceeds to alleviate liquidity concerns, strengthening the balance sheet and funds near-term growth in Cespira and the High-Pressure Controls & Systems business;
Brings forward more cash today than the Light-Duty business was projected to earn over 5-years on an undiscounted cash basis; and
Enables management to focus exclusively on the higher growth HPDI and high-pressure segments.

In light of the evolving market and regulatory environment, over the long term, the Light-Duty business’ ability to grow LPG / CNG sales in developed markets is expected to continue facing increased competition from pure electrification or petrol – electrification hybrids.

The base purchase price of the Transaction is $73.1 million (€67.7 million), subject to certain adjustments and potential earnouts of up to an additional $6.5 million (€6.0 million) if certain conditions are achieved, in accordance with the terms of the Share Purchase Agreement. The purchaser is a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a Netherlands based investment firm supported by Ramphastos Investment Management B.V. a prominent Dutch venture capital and private equity firm.

Net proceeds from the transaction are to be used to bolster the balance sheet, fund organic growth opportunities through Cespira and High-Pressure Controls & Systems over the near term as well as opportunistic bolt on acquisitions. The Transaction ultimately eliminates future restructuring costs required by the Italian operations in the light-duty business.

Westport is shifting to a smaller, more focused organization, that is positioned to provide solutions to decarbonize challenging segments of the mobility and industrial markets. Westport has 30 years of experience delivering component solutions and developing HPDI fuel technology. We are focused on scaling our alternative fuel-based solutions, including advancements in CNG, RNG, and hydrogen systems, while navigating a rapidly evolving transportation landscape.

The Company anticipates that the closing of the transaction will occur late in Q2 2025, subject to receiving shareholder approval.

Conference call

Westport has scheduled a conference call for Monday, March 31, 2025, at 10:30 am Pacific Time (1:30 pm Eastern Time) to discuss these results. To access the conference call please register at https://register.vevent.com/register/BI1ba7402b85a5491292e48354a2e80b90.

The live webcast of the conference call can be accessed through the Westport website at https://investors.wfsinc.com/.

Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

The webcast will be archived on Westport’s website at https://investors.wfsinc.com.

Financial Statements and Management’s Discussion and Analysis

To view Westport full financials for the fourth quarter and year ended December 31, 2024, please visit https://investors.wfsinc.com/financials/.

About Westport Fuel Systems

At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding future strategic initiatives and future growth, future of our development programs (including those relating to HPDI and Hydrogen) including testing to the HPDI fuel system, scaling our alternative fuel-based solutions, our expectations for 2025 and beyond, including the demand for our products, the future success of our business and technology strategies, shareholder approval of the Transaction, our ability to successfully close the Transaction and realize the benefits therefrom, including, potential earn-out payments, the Transaction alleviating liquidity concerns, our focus on providing affordable solutions to decarbonize long haul and heavy-duty trucking, our ability to bolster our balance sheet, fund organic growth as well as opportunistic bolt on acquisitions, a shift to operating as a smaller, more efficient organization. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties and assumptions include those related to our revenue growth, operating results, industry and products, changes in business strategy, shifts in market demand, the general economy including impacts due to inflation, the effects of competition and pricing pressures, conditions of and access to the capital and debt markets, solvency, governmental policies, trade restrictions or other changes to international trade agreements, sanctions and regulation including the imposition of tariffs, technology innovations, fluctuations in foreign exchange rates, operating expenses, continued reduction in expenses, ability to successfully commercialize new products, the performance of our joint ventures, the availability and price of natural gas, new environmental regulations, the acceptance of and shift to natural gas and hydrogen vehicles, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, the effects and duration of the Russia-Ukraine conflict, supply chain disruptions as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website, RSS feed or twitter account referenced in this press release are not incorporated by reference herein.

Inquiries:
Investor Relations
T: +1 604-718-2046
invest@wfsinc.com

GAAP and Non-GAAP Financial Measures

Our financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP“). These U.S. GAAP financial statements include non-cash charges and other charges and benefits that may be unusual or infrequent in nature or that we believe may make comparisons to our prior or future performance difficult. In addition to conventional measures prepared in accordance with U.S. GAAP, Westport and certain investors use EBITDA and Adjusted EBITDA as an indicator of our ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. Management also uses these non-GAAP measures in its review and evaluation of the financial performance of Westport. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or “EBITDA multiple” that is based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a company. We believe that these non-GAAP financial measures also provide additional insight to investors and securities analysts as supplemental information to our U.S. GAAP results and as a basis to compare our financial performance period-over-period and to compare our financial performance with that of other companies. We believe that these non-GAAP financial measures facilitate comparisons of our core operating results from period to period and to other companies by, in the case of EBITDA, removing the effects of our capital structure (net interest income on cash deposits, interest expense on outstanding debt and debt facilities), asset base (depreciation and amortization) and tax consequences. Adjusted EBITDA provides this same indicator of Westports’ EBITDA from continuing operations and removing such effects of our capital structure, asset base and tax consequences, but additionally excludes any unrealized foreign exchange gains or losses, stock-based compensation charges and other one-time impairments and costs which are not expected to be repeated in order to provide greater insight into the cash flow being produced from our operating business, without the influence of extraneous events.

Segment Information

EBITDA and Adjusted EBITDA are intended to provide additional information to investors and analysts and do not have any standardized definition under U.S. GAAP, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA exclude the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore are not necessarily indicative of operating profit or cash flow from operations as determined under U.S. GAAP. Other companies may calculate EBITDA and Adjusted EBITDA differently.

Segment earnings or losses before income taxes, interest, depreciation, and amortization (“Segment EBITDA”) is the measure of segment profitability used by the Company. The accounting policies of our reportable segments are the same as those applied in our consolidated financial statements. Management prepared the financial results of the Company’s reportable segments on basis that is consistent with the manner in which Management internally disaggregates financial information to assist in making internal operating decisions. Certain common costs and expenses, primarily corporate functions, among segments differently than we would for stand-alone financial information prepared in accordance with GAAP. These include certain costs and expenses of shared services, such as IT, human resources, legal, finance and supply chain management. Segment EBITDA is not defined under US GAAP and may not be comparable to similarly titled measures used by other companies and should not be considered a substitute for net earnings or other results reported in accordance with GAAP. Reconciliations of reportable segment information to consolidated statement of operations can be found in section “NON-GAAP FINANCIAL MEASURES & RECONCILIATIONS” within this press release.

	Year ended December 31, 2024
	Light-Duty		High-Pressure Controls & Systems			Heavy-Duty OEM			Cespira			Total Segment
Revenue	$	262.2	$	8.8		$	31.3		$	43.1		$	345.4
Cost of revenue		206.8		7.3			30.6			42.6			287.3
Gross profit		55.4		1.5			0.7			0.5			58.1
Operating expenses:
Research & development		13.0		4.4			4.2			4.7			26.3
General & administrative		19.2		1.0			3.1			5.6			28.9
Sales & marketing		9.9		0.7			0.9			1.0			12.5
Depreciation & amortization		2.6		0.3			0.1			1.7			4.7
Equity income		1.3		—			—			—			1.3
Add back: Depreciation & amortization¹		6.4		0.5			1.4			3.8			12.1
Segment EBITDA	$	18.4	$	(4.4	)	$	(6.2	)	$	(8.7	)	$	(0.9	)

	Year ended December 31, 2023
	Light-Duty		High-Pressure Controls & Systems			Heavy-Duty OEM			Total Segment
Revenue	$	263.6	$	12.0		$	56.2		$	331.8
Cost of revenue		214.5		9.2			59.2			282.9
Gross profit		49.1		2.8			(3.0	)		48.9
Operating expenses:
Research & development		13.1		3.6			9.3			26.0
General & administrative		21.6		1.3			6.4			29.4
Sales & marketing		10.6		0.7			2.9			14.1
Depreciation & amortization		3.2		0.2			0.4			3.8
Equity income		0.8		—			—			0.8
Add back: Depreciation & amortization¹		6.7		0.4			4.9			11.9
Segment EBITDA	$	8.1	$	(2.6	)	$	(17.1	)	$	(11.6	)

NON-GAAP FINANCIAL MEASURES RECONCILIATION

Gross Profit	Years ended December 31,
(expressed in millions of U.S. dollars)	2024		2023
Revenue	$	302.3	$	331.8
Less: Cost of revenue	$	244.7	$	282.9
Gross Profit	$	57.6	$	48.9

Gross Margin as a percentage of Revenue	Years ended December 31,
(expressed in millions of U.S. dollars)		2024			2023
Revenue	$	302.3		$	331.8
Gross Margin	$	57.6		$	48.9
Gross Margin as a percentage of Revenue		19	%		15	%

	Year ended December 31, 2024
	Total Segment		Less: Cespira		Add: Corporate & unallocated			Total Consolidated
Revenue	$	345.4	$	43.1	$	—		$	302.3
Cost of revenue		287.3		42.6		—			244.7
Gross profit		58.1		0.5		—			57.6
Operating expenses:
Research & development		26.3		4.7		—			21.6
General & administrative		28.9		5.6		14.4			37.7
Sales & marketing		12.5		1.0		1.2			12.7
Depreciation & amortization		4.7		1.7		0.4			3.4
Equity income (loss)		1.3		—		(6.7	)		(5.4	)

	Year ended December 31, 2023
	Total Segment		Add: Corporate & unallocated		Total Consolidated
Revenue	$	331.8	$	—	$	331.8
Cost of revenue		282.9		—		282.9
Gross profit		48.9		—		48.9
Operating expenses:
Research & development		26.0		—		26.0
General & administrative		29.4		14.8		44.2
Sales & marketing		14.1		2.2		16.3
Depreciation & amortization		3.8		0.5		4.3
Equity income		0.8		—		0.8

Reconciliation of Segment EBITDA to Loss before income taxes	Years ended December 31,
		2024			2023
Total Segment EBITDA	$	(0.9	)	$	(11.6	)
Adjustments:
Depreciation and amortization		8.7			12.5
Cespira’s Segment EBITDA		(8.7	)		—
Cespira’s equity loss		6.7			—
Corporate and unallocated operating expenses		15.6			17.0
Foreign exchange loss		6.2			4.0
Loss on sale of assets		0.7			—
Gain on deconsolidation		(15.2	)		—
Loss on sale of investment		0.4			—
Impairment of long-term investment		—			0.4
Loss on extinguishment of royalty payable		—			2.9
Interest on long-term debt and accretion of royalty payable		2.8			3.0
Interest and other income, net of bank charges		(1.2	)		(2.7	)
Loss before income taxes	$	(16.9	)	$	(48.7	)

EBITDA and Adjusted EBITDA
Three months ended	31-Mar-23			30-Jun-23			30-Sep-23			31-Dec-23			31-Mar-24			30-Jun-24			30-Sep-24			31-Dec-24
Income (loss) before income taxes	$	(9.7	)	$	(13.0	)	$	(12.0	)	$	(14.0	)	$	(12.9	)	$	6.8		$	(2.5	)	$	(8.3	)
Interest expense, net		0.4			(0.1	)		0.2			(0.2	)		0.5			0.5			0.4			0.2
Depreciation and amortization		3.0			3.0			3.2			3.3			3.2			1.7			1.8			2.0
EBITDA	$	(6.3	)	$	(10.1	)	$	(8.6	)	$	(10.9	)	$	(9.2	)	$	9.0		$	(0.3	)	$	(6.1	)
Stock based compensation (recovery)	$	0.7		$	0.8		$	(0.3	)	$	1.4		$	0.3		$	1.2		$	(0.1	)	$	—
Unrealized foreign exchange (gain) loss	$	1.1		$	2.4		$	1.4		$	(0.9	)	$	1.8		$	0.1		$	(1.1	)	$	5.4
Loss on extinguishment of royalty payable	$	—		$	2.9		$	—		$	—		$	—		$	—		$	—		$	—
Severance costs	$	—		$	—		$	4.5		$	—		$	0.5		$	0.2		$	0.1		$	0.1
Gain on deconsolidation	$	—		$	—		$	—		$	—		$	—		$	(13.3	)	$	—		$	(1.9	)
Loss on sale of investment	$	—		$	—		$	—		$	—		$	—		$	—		$	0.4		$	—
Restructuring costs	$	—		$	—		$	—		$	—		$	—		$	0.8		$	0.2		$	—
Loss on sale of assets	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	0.7
Impairment of long-term investment	$	—		$	—		$	—		$	0.4		$	—		$	—		$	—		$	—
Adjusted EBITDA	$	(4.5	)	$	(4.0	)	$	(3.0	)	$	(10.0	)	$	(6.6	)	$	(2.0	)	$	(0.8	)	$	(1.8	)

WESTPORT FUEL SYSTEMS INC.

Consolidated Balance Sheets

(Expressed in thousands of United States dollars, except share amounts)

December 31, 2024 and 2023

	December 31,
		2024			2023
Assets
Current assets:
Cash and cash equivalents (including restricted cash)	$	37,646		$	54,853
Accounts receivable		73,054			88,077
Inventories		53,526			67,530
Prepaid expenses		5,660			6,323
Total current assets		169,886			216,783
Long-term investments		39,732			4,792
Property, plant and equipment		41,956			69,489
Operating lease right-of-use assets		19,019			22,877
Intangible assets		5,277			6,822
Deferred income tax assets		9,695			11,554
Goodwill		2,876			3,066
Other long-term assets		3,180			20,365
Total assets	$	291,621		$	355,748
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities	$	88,123		$	95,374
Current portion of operating lease liabilities		2,624			3,307
Short-term debt		—			15,156
Current portion of long-term debt		14,660			14,108
Current portion of warranty liability		3,861			6,892
Total current liabilities		109,268			134,837
Long-term operating lease liabilities		16,433			19,300
Long-term debt		19,067			30,957
Warranty liability		1,456			1,614
Deferred income tax liabilities		4,029			3,477
Other long-term liabilities		4,343			5,115
Total liabilities		154,596			195,300
Shareholders’ equity:
Share capital:
Unlimited common and preferred shares, no par value
17,282,934 (2023 – 17,174,502) common shares issued and outstanding		1,245,805			1,244,539
Other equity instruments		9,472			9,672
Additional paid-in-capital		11,516			11,516
Accumulated deficit		(1,096,275	)		(1,074,434	)
Accumulated other comprehensive loss		(33,493	)		(30,845	)
Total shareholders’ equity		137,025			160,448
Total liabilities and shareholders’ equity	$	291,621		$	355,748

WESTPORT FUEL SYSTEMS INC.
Consolidated Statements of Operations and Comprehensive Income (Loss)
(Expressed in thousands of United States dollars, except share and per share amounts)
Years ended December 31, 2024 and 2023

	Years ended December 31,
		2024			2023
Revenue	$	302,299		$	331,799
Cost of revenue		244,708			282,862
Gross profit		57,591			48,937
Operating expenses:
Research and development		21,587			26,003
General and administrative		37,679			44,234
Sales and marketing		12,676			16,278
Foreign exchange loss		6,248			3,974
Depreciation and amortization		3,367			4,299
Loss on sale of assets		703			32
		82,260			94,820
Loss from operations		(24,669	)		(45,883	)

Income from investments accounted for by the equity method		(5,402	)		780
Gain on deconsolidation		15,198			—
Loss on sale of investment		(352	)		—
Loss on extinguishment of royalty payable		—			(2,909	)
Interest on long-term debt and accretion of royalty payable		(2,797	)		(2,981	)
Impairment of long-term investment		—			(413	)
Interest and other income, net of bank charges		1,161			2,690
Loss before income taxes		(16,861	)		(48,716	)
Income tax expense (recovery):
Current		3,183			1,786
Deferred		1,797			(784	)
		4,980			1,002
Net loss for the year		(21,841	)		(49,718	)
Other comprehensive income (loss):
Cumulative translation adjustment		(2,535	)		4,473
Ownership share of equity method investments’ other comprehensive loss	$	(113	)	$	—
	$	(2,648	)	$	4,473
Comprehensive loss	$	(24,489	)	$	(45,245	)
Loss per share:
Net loss per share – basic and diluted	$	(1.27	)	$	(2.90	)
Weighted average common shares outstanding:
Basic and diluted		17,248,090			17,173,016

WESTPORT FUEL SYSTEMS INC.

Consolidated Statements of Cash Flows

(Expressed in thousands of United States dollars)

Years ended December 31, 2024 and 2023

	Years ended December 31,
		2024			2023

Operating activities:
Net loss for the year	$	(21,841	)	$	(49,718	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		8,661			12,490
Stock-based compensation expense		1,066			1,727
Unrealized foreign exchange loss		6,248			3,974
Deferred income tax expense (recovery)		1,797			(784	)
Loss (income) from investments accounted for by the equity method		5,402			(780	)
Interest on long-term debt and accretion of royalty payable		74			9
Impairment of long-term investment		—			413
Change in inventory write-downs to net realizable value		3,283			7,066
Gain on deconsolidation		(15,198	)		—
Loss on sale of investment		352			—
Net loss on sale of assets		627			32
Loss on extinguishment of royalty payable		—			2,909
Change in bad debt expense		282			56
Changes in operating assets and liabilities:
Accounts receivable		25,567			5,340
Inventories		(6,836	)		9,481
Prepaid expenses		(153	)		2,869
Accounts payable and accrued liabilities		2,233			(2,448	)
Warranty liability		(4,380	)		(5,829	)
Net cash provided by (used in) operating activities		7,184			(13,193	)
Investing activities:
Purchase of property, plant and equipment		(16,923	)		(15,574	)
Proceeds on sale of investments		29,994			—
Proceeds on sale of assets		998			161
Dividends received from investments accounted for by the equity method		297			—
Capital contributions to investments accounted for by the equity method		(9,900	)		—
Net cash provided by (used in) investing activities		4,466			(15,413	)
Financing activities:
Drawings on operating lines of credit and long-term facilities		19,336			46,367
Repayment of operating lines of credit and long-term facilities		(44,546	)		(39,904	)
Payment of royalty payable		—			(8,687	)
Net cash used in financing activities		(25,210	)		(2,224	)
Effect of foreign exchange on cash and cash equivalents		(3,647	)		(501	)
Net decrease in cash and cash equivalents		(17,207	)		(31,331	)
Cash and cash equivalents, beginning of year (including restricted cash)		54,853			86,184
Cash and cash equivalents, end of year (including restricted cash)		37,646			54,853

The MIL Network –

March 31, 2025

MIL-OSI United Nations: FOCUS ON: Resilient infrastructure
Source: UNISDR Disaster Risk Reduction

Infrastructure is the backbone of modern society. It powers cities, connects communities and supports economic activity. Yet every year, disasters wreak havoc on infrastructure worldwide, causing economic losses that exceed US$700 billion.

The impact is disproportionately felt by poorer nations, where fragile infrastructure can mean the difference between recovery and years of lost development. UNDRR is at the forefront of the mission to help countries fortify their infrastructure, ensuring sustainable growth and safeguarding lives.

The Sendai Framework for Disaster Risk Reduction and the Sustainable Development Goals emphasize infrastructure resilience, urging nations to integrate risk reduction into their development strategies. However, resilience is more than just withstanding disasters – it means designing systems that can adapt, recover and even improve in the face of adversity. With climate change intensifying risks, countries need innovative solutions and stronger governance to protect their infrastructure investments.

In collaboration with the Coalition for Disaster Resilient Infrastructure, UNDRR has pioneered an innovative approach. Through tailored interventions, UNDRR has enabled nations to identify weaknesses across critical sectors such as transport, energy, water and telecommunications. By conducting stress tests, infrastructure vulnerabilities have been pinpointed using satellite imagery and geolocalized data, allowing governments to take pre-emptive action. Benchmarking national infrastructure policies against global best practices, such as the Principles for Resilient Infrastructure, has helped align national strategies with proven methodologies. Furthermore, strategic road maps have been developed to guide planning, construction and long-term operations, ensuring resilience is embedded throughout the infrastructure lifecycle.

UNDRR’s impact is already evident across the globe:
- Bhutan has integrated resilience measures into its five-year strategic plan, shaping national infrastructure policy for years to come.
- In Chile, UNDRR’s stress testing prompted national authorities to recognize drought and water scarcity as critical threats, leading to strengthened institutional capacity for risk management.
- Costa Rica has developed a new data platform, ensuring that future infrastructure investments are informed by risk analysis.
- Ghana is institutionalizing a technical working group on critical infrastructure to coordinate national disaster resilience efforts more effectively.
- In Madagascar, a review of regulatory frameworks has led the Government to consider new resilience standards in energy and telecommunications.
- The Government of Panama is overhauling infrastructure procurement processes and establishing a resilience commission to mainstream risk management in national policies.
- In Tonga, a deep analysis of the water sector has led to enhanced emergency planning, better water security and improved monitoring of groundwater resources, ensuring communities have access to clean water even during crises.
UNDRR’s efforts in these countries have significantly strengthened national policies and institutional frameworks for resilient infrastructure. This will positively impact the reduction of disaster damage to critical infrastructure – Sendai Framework Target D – by integrating risk analysis into infrastructure planning, enhancing resource allocation through improved coordination mechanisms, and strengthening construction and maintenance practices. Combined, these actions reduce the likelihood of infrastructure failures and protect economic investment and activity. Infrastructure resilience requires cross-sectoral collaboration to manage interdependencies and prevent cascading failures. Engaging stakeholders across public and private sectors and civil society fosters inclusive and sustainable resilience strategies. Finally, data-driven decision-making ensures that infrastructure investments are both sustainable and secure.

The time to act is now. As climate change continues to challenge global stability, resilient infrastructure will be the foundation upon which sustainable, inclusive and disaster-ready societies are built. UNDRR’s continued leadership and global collaboration can ensure that our lifeline in times of crisis remains strong in an uncertain world.

Back to the UNDRR 2024 Annual Report

MIL OSI United Nations News –
March 31, 2025
MIL-OSI United Nations: FOCUS ON: Cultivating resilience through strong governance in Colombia

Source: UNISDR Disaster Risk Reduction

In a world where climate change and food insecurity loom large, national governments across the Americas and the Caribbean are rallying to localize DRR efforts. Colombia stands out as a dynamic example, leveraging the Sendai Framework to build resilience from the ground up. With 178 cities already engaged in the Making Cities Resilient 2030 (MCR2030) initiative, Colombia is inspiring neighbouring nations to accelerate local DRR actions.

At the heart of Colombia’s approach is its National Unit for Disaster Risk Management (UNGRD). One of 10 national DRR departments in the region and a core partner of MCR2030, UNGRD has been instrumental in forging strong national–local linkages since the initiative’s launch in 2020. Working hand in hand with local governments, UNGRD has equipped communities with the tools and expertise needed to understand disaster risks and implement effective solutions. “Colombia is advancing local DRR to overcome the three main challenges of the Amazon region in terms of State presence, infrastructure, and the vulnerability of Indigenous communities to disaster risks,” explains Nelson Hernández of UNGRD, underscoring the critical role of local action in regions where government reach has historically been limited.

Nowhere is this more evident than in the small Amazonian town of Puerto Nariño, home to nearly 7,000 inhabitants – and highlighted as a “Green Getaway” by the BBC for its locally driven conservation efforts. Recently, an extreme drought dramatically lowered river levels, disrupting fishing and subsistence agriculture, a stark reminder of how climate change can upend traditional food systems. In response, UNGRD, alongside the World Food Programme (WFP) and the United Nations Environment Programme, conducted an integrated assessment of the town’s food systems and disaster resilience.

This equipped Puerto Nariño to craft a comprehensive local DRR strategy, weaving together climate change adaptation and robust food security measures. “WFP and UNDRR embrace an integrated vision for cross-border challenges in the Amazon region in the face of historic floods and droughts. Short supply chains that rely on forest products are being prioritized to foster environmental preservation, resilience and social benefits,” noted Raphael Leão, Programme Officer at WFP.

Colombia’s strategy of strengthening national–local linkages is more than a policy framework – it is a lifeline for communities.

As nations prepare for COP30 in Brazil, the lessons from Colombia offer a road map for resilience. By aligning local actions with national priorities and tailored United Nations methodologies, Colombia’s efforts pave the way for communities to better withstand climate shocks, secure food supplies and protect their way of life. The journey ahead is challenging, but with regional collaboration and innovative strategies, a sustainable future for the Amazon is within reach.

Back to the UNDRR 2024 Annual Report

MIL OSI United Nations News –

March 31, 2025
MIL-OSI United Nations: UNDRR 2024 Annual Report

Source: UNISDR Disaster Risk Reduction

02

Strategies, governance and capacity-building

Target E of the Sendai Framework calls for a substantial increase in the number of countries with national and local DRR strategies by 2020.

Though a strategy is not the end goal, UNDRR has found that countries with national DRR strategies tend to have more robust DRR governance and a higher prevalence of EWS, demonstrating the value of investment in this fundamental DRR pillar.

The Government of Jordan has developed its National Disaster Risk Reduction Strategy (2023–2030) in a participatory manner involving different governmental entities, ministries and municipalities, and the Public Security Directorate (Civil Defense), with support from UNDRR and the United Nations Development Programme country office. The strategy also integrates biological hazard risk reduction with the aim of building back better after the COVID-19 pandemic.

Within the framework of Jordan’s efforts to deal with increasing threats and risks, the National Centre for Security and Crises Management has played a major role in developing two integrated risk registers; the national risk register and the local register for governorates. Both registers aim to improve the kingdom’s capacity to respond to disasters through accurate identification of risks, and enhanced coordination between the local and national levels for improved risk governance.

Through this effective coordination between the national and local risk registers, Jordan has made great strides in reducing risks and enhancing community resilience, making the kingdom a role model for disaster management and risk reduction at the regional level.

Morocco, too, has taken concrete steps to strengthen its risk governance. It established the Directorate of Natural Risk Management under the Ministry of Interior as its national DRR coordination mechanism. Morocco also established the National Risk Observatory to collect, analyse and share data on natural hazard risk. Furthermore, Morocco established a National Risk Forecasting Centre for monitoring and alerting, and an Operational Risk Anticipation Centre for forecasting, alerting and risk management assistance systems. Another successful project comprised the generalization of coverage of the entire national territory using multiscale and multi-hazard risk maps (for natural hazards).

Albania’s National Disaster Risk Reduction Strategy demonstrates widespread integration of concerns related to climate change and triggers the engagement of new sectors, particularly tourism.

The vision statement explicitly brings together DRR, climate change and sustainable development using the language of resilience, while the document includes a detailed plan of action for DRR implementation that integrates institutions such as the Ministry of Tourism and Environment and the Ministry of Infrastructure and Energy.

In particular, it articulates the implementation of the ALBAdapt project Climate Services for a Resilient Albania. The Ministry of Tourism and Environment is identified as the lead institution for implementation of a set of activities that offer compounding co-benefits for both DRR and climate change adaptation, including the development of a people-centred MHEWS, the creation of a fully functional and well-resourced National Meteorological and Hydrological Service.

This integration is supported by articulations elsewhere in the country’s strategic profile, with the National Adaptation Plan 2019 including a priority area entitled “upgrading civil defence preparedness and DRR”. Elsewhere, the National Security Strategy of the Republic of Albania (2023–2028) addresses risks ranging from national security threats to climate change impacts, emphasizing resilience to disasters, while the National Strategy for Development and European Integration (NSDEI) 2022–2030 includes the integration of DRR and climate change adaptation planning among its priorities.

National DRR strategies are the bedrock for multi-hazard risk governance and the achievement of Sendai Framework targets. These strategies help transform risk knowledge into actions and programmes that save lives and livelihoods. In addition, they serve as guides for mobilizing resources, delegating roles and responsibilities within government, and identifying entry points for non-governmental stakeholder engagement, all leading to more inclusive, sustainable development.

With 131 countries now reporting having national DRR strategies, and 30 receiving technical support from UNDRR to develop them, this is just a snapshot of the progress being made globally in this important area.

Under Brazil’s presidency, the Group of 20 (G20) recognized DRR as a critical component of economic resilience. Collaborating closely with UNDRR, Brazil facilitated the adoption of the first-ever G20 Ministerial Declaration on DRR. This landmark declaration emphasized the necessity of accelerating the Sendai Framework for Disaster Risk Reduction’s implementation, aiming to reduce disaster losses by 2030, and called for the development of high-level principles for DRR financing. The work of the G20 DRR Working Group, with UNDRR as the lead knowledge partner, further reflected a comprehensive approach to integrating DRR into economic and social policies.

UNDRR’s capacity-building continues to go from strength to strength, with nearly 10,000 DRR practitioners being trained in 2024, 77 per cent of whom reported having a better understanding of DRR as a result. At one such workshop in the Global Education and Training Institute in Incheon, Republic of Korea, a remarkable collaboration unfolded – a pioneering workshop uniting experts from UNDRR and the Green Climate Fund (GCF) to empower government stakeholders from Mongolia and Bhutan to mobilize relevant partners and stakeholders and obtain funding for their DRR measures. This joint training begins a process of transforming the daunting challenges of climate change into opportunities for proactive DRR.

Delegates were empowered by not only technical insights, but also the forging of lasting partnerships. The workshop’s training modules, co-designed by UNDRR and GCF specialists, delved deep into practical tools such as the EW4All Checklist for Gap Analysis, equipping participants to critically assess their national capacities and pinpoint vulnerabilities. “Early warning systems are important components for our national climate change adaptation strategy,” noted Ms. Tserendulam Shagdarsuren, Director General of the Climate Change Department, Ministry of Environment and Tourism in Mongolia, emphasizing how the training illuminated the next steps for their evolving EWS.

This pilot UNDRR–GCF initiative is part of a broader strategy to replicate capacity-building endeavours in developing countries. Future workshops are planned for countries that are in very different geographic contexts yet face similar challenges (particularly those resulting from climate change), such as Somalia, Togo and the SIDS. These workshops aim to accelerate access to climate finance and enhance DRR measures worldwide.

In a continuation of the Media Saving Lives programme, UNDRR and partners trained 520 journalists and media practitioners in DRR and risk communications, bringing the total to over 2,500 from 80 countries. Media are an integral part of the EWS delivery chain, and engaging them to build trust between government and communities can be the difference between life and death when disaster hits.

The rise in global temperatures and the increasing frequency and severity of extreme heat events are rapidly becoming central challenges for nations worldwide. Yet many Member States, cities and societies remain ill-prepared to address this escalating threat. The imperative for enhanced extreme heat risk reduction, governance and management is clear. Without urgent and coordinated action, extreme heat will continue to endanger billions of lives, amplify health risks and threaten the ecosystems upon which we depend.

In response, the UNDRR/World Meteorological Organization (WMO) Centre of Excellence for Climate and Disaster Resilience – together with the Global Heat Health Information Network, Duke University and WMO Centre of Excellence for Climate and Disaster Resilience partners – has developed an extreme heat decision-support package for countries tackling this global threat. The package includes: international organization resource and ecosystem mapping, readiness reviews and profiles; national best practice analytics; evaluations of heat action plans; and materials for development of an extreme heat maturity index for self-assessment. These materials can enhance collaboration, integrated heat risk governance and policy responses to extreme heat.

UNDRR’s work and that of United Nations system partners, coupled with increasing demands for assistance from Member States, prompted and informed the United Nations Secretary-General’s Call to Action on Extreme Heat, issued in July 2024, in which he emphasized the need for urgent action if a future characterized by even more devastating heat impacts on lives, economies and ecosystems is to be avoided.

This work is in turn informing the development of a Common Framework for Heat Risk Governance, led by UNDRR with the Global Heat Health Information Network, and Member States, international organizations and stakeholders. The Framework will receive inputs from (and is designed to bring together) multiple sectors, domains and scales – from agriculture and food systems, to energy systems, transportation, construction materials and design, and urban cooling. It is expected to assist national and subnational decision makers in designing and resourcing integrated actions to reduce extreme heat risk to people, urban and rural ecosystems, and the environment, preventing the loss of lives and livelihoods.

MIL OSI United Nations News –

March 31, 2025
MIL-OSI United Nations: UNDRR Annual Report 2024

Source: UNISDR Disaster Risk Reduction

02

Strategies, governance and capacity-building

Target E of the Sendai Framework calls for a substantial increase in the number of countries with national and local DRR strategies by 2020.

Though a strategy is not the end goal, UNDRR has found that countries with national DRR strategies tend to have more robust DRR governance and a higher prevalence of EWS, demonstrating the value of investment in this fundamental DRR pillar.

The Government of Jordan has developed its National Disaster Risk Reduction Strategy (2023–2030) in a participatory manner involving different governmental entities, ministries and municipalities, and the Public Security Directorate (Civil Defense), with support from UNDRR and the United Nations Development Programme country office. The strategy also integrates biological hazard risk reduction with the aim of building back better after the COVID-19 pandemic.

Within the framework of Jordan’s efforts to deal with increasing threats and risks, the National Centre for Security and Crises Management has played a major role in developing two integrated risk registers; the national risk register and the local register for governorates. Both registers aim to improve the kingdom’s capacity to respond to disasters through accurate identification of risks, and enhanced coordination between the local and national levels for improved risk governance.

Through this effective coordination between the national and local risk registers, Jordan has made great strides in reducing risks and enhancing community resilience, making the kingdom a role model for disaster management and risk reduction at the regional level.

Morocco, too, has taken concrete steps to strengthen its risk governance. It established the Directorate of Natural Risk Management under the Ministry of Interior as its national DRR coordination mechanism. Morocco also established the National Risk Observatory to collect, analyse and share data on natural hazard risk. Furthermore, Morocco established a National Risk Forecasting Centre for monitoring and alerting, and an Operational Risk Anticipation Centre for forecasting, alerting and risk management assistance systems. Another successful project comprised the generalization of coverage of the entire national territory using multiscale and multi-hazard risk maps (for natural hazards).

Albania’s National Disaster Risk Reduction Strategy demonstrates widespread integration of concerns related to climate change and triggers the engagement of new sectors, particularly tourism.

The vision statement explicitly brings together DRR, climate change and sustainable development using the language of resilience, while the document includes a detailed plan of action for DRR implementation that integrates institutions such as the Ministry of Tourism and Environment and the Ministry of Infrastructure and Energy.

In particular, it articulates the implementation of the ALBAdapt project Climate Services for a Resilient Albania. The Ministry of Tourism and Environment is identified as the lead institution for implementation of a set of activities that offer compounding co-benefits for both DRR and climate change adaptation, including the development of a people-centred MHEWS, the creation of a fully functional and well-resourced National Meteorological and Hydrological Service.

This integration is supported by articulations elsewhere in the country’s strategic profile, with the National Adaptation Plan 2019 including a priority area entitled “upgrading civil defence preparedness and DRR”. Elsewhere, the National Security Strategy of the Republic of Albania (2023–2028) addresses risks ranging from national security threats to climate change impacts, emphasizing resilience to disasters, while the National Strategy for Development and European Integration (NSDEI) 2022–2030 includes the integration of DRR and climate change adaptation planning among its priorities.

National DRR strategies are the bedrock for multi-hazard risk governance and the achievement of Sendai Framework targets. These strategies help transform risk knowledge into actions and programmes that save lives and livelihoods. In addition, they serve as guides for mobilizing resources, delegating roles and responsibilities within government, and identifying entry points for non-governmental stakeholder engagement, all leading to more inclusive, sustainable development.

With 131 countries now reporting having national DRR strategies, and 30 receiving technical support from UNDRR to develop them, this is just a snapshot of the progress being made globally in this important area.

Under Brazil’s presidency, the Group of 20 (G20) recognized DRR as a critical component of economic resilience. Collaborating closely with UNDRR, Brazil facilitated the adoption of the first-ever G20 Ministerial Declaration on DRR. This landmark declaration emphasized the necessity of accelerating the Sendai Framework for Disaster Risk Reduction’s implementation, aiming to reduce disaster losses by 2030, and called for the development of high-level principles for DRR financing. The work of the G20 DRR Working Group, with UNDRR as the lead knowledge partner, further reflected a comprehensive approach to integrating DRR into economic and social policies.

UNDRR’s capacity-building continues to go from strength to strength, with nearly 10,000 DRR practitioners being trained in 2024, 77 per cent of whom reported having a better understanding of DRR as a result. At one such workshop in the Global Education and Training Institute in Incheon, Republic of Korea, a remarkable collaboration unfolded – a pioneering workshop uniting experts from UNDRR and the Green Climate Fund (GCF) to empower government stakeholders from Mongolia and Bhutan to mobilize relevant partners and stakeholders and obtain funding for their DRR measures. This joint training begins a process of transforming the daunting challenges of climate change into opportunities for proactive DRR.

Delegates were empowered by not only technical insights, but also the forging of lasting partnerships. The workshop’s training modules, co-designed by UNDRR and GCF specialists, delved deep into practical tools such as the EW4All Checklist for Gap Analysis, equipping participants to critically assess their national capacities and pinpoint vulnerabilities. “Early warning systems are important components for our national climate change adaptation strategy,” noted Ms. Tserendulam Shagdarsuren, Director General of the Climate Change Department, Ministry of Environment and Tourism in Mongolia, emphasizing how the training illuminated the next steps for their evolving EWS.

This pilot UNDRR–GCF initiative is part of a broader strategy to replicate capacity-building endeavours in developing countries. Future workshops are planned for countries that are in very different geographic contexts yet face similar challenges (particularly those resulting from climate change), such as Somalia, Togo and the SIDS. These workshops aim to accelerate access to climate finance and enhance DRR measures worldwide.

In a continuation of the Media Saving Lives programme, UNDRR and partners trained 520 journalists and media practitioners in DRR and risk communications, bringing the total to over 2,500 from 80 countries. Media are an integral part of the EWS delivery chain, and engaging them to build trust between government and communities can be the difference between life and death when disaster hits.

The rise in global temperatures and the increasing frequency and severity of extreme heat events are rapidly becoming central challenges for nations worldwide. Yet many Member States, cities and societies remain ill-prepared to address this escalating threat. The imperative for enhanced extreme heat risk reduction, governance and management is clear. Without urgent and coordinated action, extreme heat will continue to endanger billions of lives, amplify health risks and threaten the ecosystems upon which we depend.

In response, the UNDRR/World Meteorological Organization (WMO) Centre of Excellence for Climate and Disaster Resilience – together with the Global Heat Health Information Network, Duke University and WMO Centre of Excellence for Climate and Disaster Resilience partners – has developed an extreme heat decision-support package for countries tackling this global threat. The package includes: international organization resource and ecosystem mapping, readiness reviews and profiles; national best practice analytics; evaluations of heat action plans; and materials for development of an extreme heat maturity index for self-assessment. These materials can enhance collaboration, integrated heat risk governance and policy responses to extreme heat.

UNDRR’s work and that of United Nations system partners, coupled with increasing demands for assistance from Member States, prompted and informed the United Nations Secretary-General’s Call to Action on Extreme Heat, issued in July 2024, in which he emphasized the need for urgent action if a future characterized by even more devastating heat impacts on lives, economies and ecosystems is to be avoided.

This work is in turn informing the development of a Common Framework for Heat Risk Governance, led by UNDRR with the Global Heat Health Information Network, and Member States, international organizations and stakeholders. The Framework will receive inputs from (and is designed to bring together) multiple sectors, domains and scales – from agriculture and food systems, to energy systems, transportation, construction materials and design, and urban cooling. It is expected to assist national and subnational decision makers in designing and resourcing integrated actions to reduce extreme heat risk to people, urban and rural ecosystems, and the environment, preventing the loss of lives and livelihoods.

MIL OSI United Nations News –

March 31, 2025
MIL-OSI: Aegon announces changes to its Board of Directors
Source: GlobeNewswire (MIL-OSI)

The Hague, March 31, 2025 – Aegon today announces the nomination of David Herzog, Lori Fouché and Jay Ralph as new members of its Board of Directors at the company’s Annual General Meeting of shareholders (AGM) which will be held on June 12, 2025.

The Board intends to appoint David Herzog as Chair in the second half of 2025. Mr. Herzog will succeed William Connelly. To ensure a smooth transition, the Board will propose the reappointment of Mr. Connelly as a member for an additional year. Subsequently, Mr. Connelly will retire as Chair and member of the Board in the second half of 2025.

Mark Ellman, who joined Aegon’s Board in 2017 and whose second term will end in 2025, along with Jack McGarry, who joined the Board in 2021 and whose first term will end in 2025, will be nominated for reappointment at the AGM. Meanwhile, Dona Young, who joined Aegon’s Board in 2013 and whose third term concludes in 2025, will retire.

William Connelly commented: “We are delighted to propose David Herzog, Lori Fouché and Jay Ralph as new members of Aegon’s Board. We believe their expertise in insurance and asset management will strengthen the Board’s composition and support the company as we continue to execute our strategy and deliver value to our stakeholders. I would also like to take this opportunity to extend my heartfelt gratitude to Dona Young for her many contributions to Aegon. With her commitment, valuable insights and pragmatic approach, Dona has played an important role in Aegon’s transformation.”

David Herzog brings over forty years of life insurance and financial services experience to the Board. Currently serving as a member of the Board of Directors at MetLife, and as Chairman of the Board at DXC Technology, David’s extensive career includes key roles such as Chief Financial Officer and Executive Vice President at American International Group (AIG) from 2008 to 2016. Prior to this, Mr. Herzog was the Chief Financial Officer and Chief Operating Officer at American General Life, following its acquisition by AIG. He also held various executive positions at GenAmerica Corporation and Family Guardian Life, a Citicorp company, adding to his profound insight into the financial services industry.

Lori Fouché brings over two decades of experience in the financial services industry and has extensive expertise in driving transformation and innovation. Most recently, Ms. Fouché served as Senior Executive Vice President and Advisor to the CEO of TIAA, a US-based provider of retirement and investment solutions, and as CEO of TIAA Financial Solutions. Prior to joining TIAA in 2018, she held several senior positions at Prudential Financial, including Group Head of Individual Solutions, President of Individual Annuities, and CEO of Group Insurance businesses. In addition to her executive roles, Ms. Fouché currently serves on the Board of The Kraft Heinz Company, a global food and beverage company, and Hippo Holdings, a property insurance provider and she is member of the Princeton University Board of Trustees.

Jay Ralph has had a distinguished career in insurance and asset management including almost 20 years in leadership roles at Allianz SE, a global insurance and asset management company. Mr. Ralph was most recently a member of the Board of Management of Allianz SE and Chairman of both Allianz Asset Management and Allianz Life Insurance Company North America. He has also served on various boards of Allianz SE’s global subsidiaries across Europe and the Americas. Prior to this, he held several senior roles in the financial industry. Mr. Ralph currently sits on the Board of Swiss Re Group and the Siemens Pension Advisory Board.

The appointments are subject to shareholder approval and will be included in the agenda of the 2025 AGM, which will be published in May. Once elected by Aegon’s AGM, the appointments will be effective as of the end of that meeting.

Contacts

About Aegon

Aegon is an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection, and retirement solutions. Aegon’s portfolio of businesses includes fully owned businesses in the United States and United Kingdom, and a global asset manager. Aegon also creates value by combining its international expertise with strong local partners via insurance joint-ventures in Spain & Portugal, China, and Brazil, and via asset management partnerships in France and China. In addition, Aegon owns a Bermuda-based life insurer and generates value via a strategic shareholding in a market leading Dutch insurance and pensions company.

Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, domiciled in Bermuda, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com .

Forward-looking statements
The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, could, is confident, will, and similar expressions as they relate to Aegon. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. In addition, any statements that refer to sustainability, environmental and social targets, commitments, goals, efforts and expectations and other events or circumstances that are partially dependent on future events are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes no obligation, and expressly disclaims any duty, to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially and adversely from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:
- Unexpected delays, difficulties, and expenses in executing against Aegon’s environmental, climate, diversity and inclusion or other “ESG” targets, goals and commitments, and changes in laws or regulations affecting us, such as changes in data privacy, environmental, health and safety laws;
- Changes in general economic and/or governmental conditions, particularly in Bermuda, the United States, the Netherlands and the United Kingdom;
- Civil unrest, (geo-) political tensions, military action or other instability in a country or geographic region;
- Changes in the performance of financial markets, including emerging markets, such as with regard to:
  - The frequency and severity of defaults by issuers in Aegon’s fixed income investment portfolios;
  - The effects of corporate bankruptcies and/or accounting restatements on the financial markets and the resulting decline in the value of equity and debt securities Aegon holds;
  - The effects of declining creditworthiness of certain public sector securities and the resulting decline in the value of government exposure that Aegon holds;
  - The impact from volatility in credit, equity, and interest rates;
- Changes in the performance of Aegon’s investment portfolio and decline in ratings of Aegon’s counterparties;
- Lowering of one or more of Aegon’s debt ratings issued by recognized rating organizations and the adverse impact such action may have on Aegon’s ability to raise capital and on its liquidity and financial condition;
- Lowering of one or more of insurer financial strength ratings of Aegon’s insurance subsidiaries and the adverse impact such action may have on the written premium, policy retention, profitability and liquidity of its insurance subsidiaries;
- The effect of applicable Bermuda solvency requirements, the European Union’s Solvency II requirements, and applicable equivalent solvency requirements and other regulations in other jurisdictions affecting the capital Aegon is required to maintain;
- Changes in the European Commissions’ or European regulator’s position on the equivalence of the supervisory regime for insurance and reinsurance undertakings in force in Bermuda;
- Changes affecting interest rate levels and low or rapidly changing interest rate levels;
- Changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP exchange rates;
- Changes affecting inflation levels, particularly in the United States, the Netherlands and the United Kingdom;
- Changes in the availability of, and costs associated with, liquidity sources such as bank and capital markets funding, as well as conditions in the credit markets in general such as changes in borrower and counterparty creditworthiness;
- Increasing levels of competition, particularly in the United States, the Netherlands, the United Kingdom and emerging markets;
- Catastrophic events, either manmade or by nature, including by way of example acts of God, acts of terrorism, acts of war and pandemics, could result in material losses and significantly interrupt Aegon’s business;
- The frequency and severity of insured loss events;
- Changes affecting longevity, mortality, morbidity, persistence and other factors that may impact the profitability of Aegon’s insurance products and management of derivatives;
- Aegon’s projected results are highly sensitive to complex mathematical models of financial markets, mortality, longevity, and other dynamic systems subject to shocks and unpredictable volatility. Should assumptions to these models later prove incorrect, or should errors in those models escape the controls in place to detect them, future performance will vary from projected results;
- Reinsurers to whom Aegon has ceded significant underwriting risks may fail to meet their obligations;
- Changes in customer behavior and public opinion in general related to, among other things, the type of products Aegon sells, including legal, regulatory or commercial necessity to meet changing customer expectations;
- Customer responsiveness to both new products and distribution channels;
- Third-party information used by us may prove to be inaccurate and change over time as methodologies and data availability and quality continue to evolve impacting our results and disclosures;
- As Aegon’s operations support complex transactions and are highly dependent on the proper functioning of information technology, operational risks such as system disruptions or failures, security or data privacy breaches, cyberattacks, human error, failure to safeguard personally identifiable information, changes in operational practices or inadequate controls including with respect to third parties with which Aegon does business, may disrupt Aegon’s business, damage its reputation and adversely affect its results of operations, financial condition and cash flows, and Aegon may be unable to adopt to and apply new technologies;
- The impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including Aegon’s ability to complete, or obtain regulatory approval for, acquisitions and divestitures, integrate acquisitions, and realize anticipated results, and its ability to separate businesses as part of divestitures;
- Aegon’s failure to achieve anticipated levels of earnings or operational efficiencies, as well as other management initiatives related to cost savings, Cash Capital at Holding, gross financial leverage and free cash flow;
- Changes in the policies of central banks and/or governments;
- Litigation or regulatory action that could require Aegon to pay significant damages or change the way Aegon does business;
- Competitive, legal, regulatory, or tax changes that affect profitability, the distribution cost of or demand for Aegon’s products;
- Consequences of an actual or potential break-up of the European Monetary Union in whole or in part, or further consequences of the exit of the United Kingdom from the European Union and potential consequences if other European Union countries leave the European Union;
- Changes in laws and regulations, or the interpretation thereof by regulators and courts, including as a result of comprehensive reform or shifts away from multilateral approaches to regulation of global or national operations, particularly regarding those laws and regulations related to ESG matters, those affecting Aegon’s operations’ ability to hire and retain key personnel, taxation of Aegon companies, the products Aegon sells, the attractiveness of certain products to its consumers and Aegon’s intellectual property;
- Regulatory changes relating to the pensions, investment, insurance industries and enforcing adjustments in the jurisdictions in which Aegon operates;
- Standard setting initiatives of supranational standard setting bodies such as the Financial Stability Board and the International Association of Insurance Supervisors or changes to such standards that may have an impact on regional (such as EU), national or US federal or state level financial regulation or the application thereof to Aegon, including the designation of Aegon by the Financial Stability Board as a Global Systemically Important Insurer (G-SII);
- Changes in accounting regulations and policies or a change by Aegon in applying such regulations and policies, voluntarily or otherwise, which may affect Aegon’s reported results, shareholders’ equity or regulatory capital adequacy levels;
- Changes in ESG standards and requirements, including assumptions, methodology and materiality, or a change by Aegon in applying such standards and requirements, voluntarily or otherwise, may affect Aegon’s ability to meet evolving standards and requirements, or Aegon’s ability to meet its sustainability and ESG-related goals, or related public expectations, which may also negatively affect Aegon’s reputation or the reputation of its board of directors or its management; and
- Other risks and uncertainties identified in the Form 20-F and in other documents filed or to be filed by Aegon with the SEC.
- Reliance on third-party information in certain of Aegon’s disclosures, which may change over time as methodologies and data availability and quality continue to evolve. These factors, as well as any inaccuracies in third-party information used by Aegon, including in estimates or assumptions, may cause results to differ materially and adversely from statements, estimates, and beliefs made by Aegon or third-parties. Moreover, Aegon’s disclosures based on any standards may change due to revisions in framework requirements, availability of information, changes in its business or applicable governmental policies, or other factors, some of which may be beyond Aegon’s control. Additionally, Aegon’s discussion of various ESG and other sustainability issues in this document or in other locations, including on our corporate website, may be informed by the interests of various stakeholders, as well as various ESG standards, frameworks, and regulations (including for the measurement and assessment of underlying data). As such, our disclosures on such issues, including climate-related disclosures, may include information that is not necessarily “material” under US securities laws for SEC reporting purposes, even if we use words such as “material” or “materiality” in relation to those statements. ESG expectations continue to evolve, often quickly, including for matters outside of our control; our disclosures are inherently dependent on the methodology (including any related assumptions or estimates) and data used, and there can be no guarantee that such disclosures will necessarily reflect or be consistent with the preferred practices or interpretations of particular stakeholders, either currently or in future.
This document contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (596/2014). Further details of potential risks and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, including the 2023 Integrated Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aegon’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Attachment
- 31032025_PR_Aegon announces changes to its Board of Directors
The MIL Network –
March 31, 2025
MIL-OSI: Large European and US organizations are prioritizing reindustrialization investments over short-term profitability
Source: GlobeNewswire (MIL-OSI)

Press contact:
Florence Lièvre 
Tel.: +33 1 47 54 50 71 
Email: florence.lievre@capgemini.com

Large European and US organizations are prioritizing reindustrialization investments over short-term profitability
- To mitigate concerns over supply chain pressures, rising tariffs and trade disputes, cumulative investments within and outside of domestic markets projected to reach $4.7 trillion over the next three years, up from $3.4 trillion in 2024
- More than half have invested in nearshoring or reshoring their manufacturing over the past year, with 35% planning to increase investments in nearshoring in 2025 to diversify their manufacturing
- Friendshoring, in terms of sourcing and production, is poised to become a key route forward for nearly three quarters of organizations
Paris, March 31, 2025 – The 2025’ edition of the Capgemini Research Institute’s report, ‘The Resurgence of manufacturing: Reindustrialization strategies in Europe and the US’, published today, shows that large organizations across the US and Europe are intensifying their focus on reindustrialization to mitigate concerns over supply chain pressures, rising tariffs and trade disputes. The reconfiguration of global supply chains and manufacturing capacity, including ‘reshoring’ and ‘nearshoring¹production, as well as diversification, is being strategically prioritized over short-term profitability. Nearly 60% of executives are determined to continue their efforts despite higher costs and most organizations (65%) are reducing reliance on Chinese products. Instead, they are planning to invest in ‘friendshoring’¹over the next three years to de-risk their supply chains.

According to the survey conducted from January 1^st to 20^th, 2025, market tensions are driving large European and US organizations to accelerate their plans to diversify their manufacturing and supply chains: two thirds have an active or in-progress reindustrialization strategy – up from 59% in 2024.

“After decades of globalization, the imperative to reindustrialize is clear. Organizations are intensifying their efforts to de-risk and diversify their manufacturing and supply chains through friendshoring to reinforce proximity to markets,” said Aiman Ezzat, Chief Executive Officer at Capgemini. “Complexities and costs involved in re-orchestrating supply chains are not being underestimated. Business leaders are investing to navigate the unpredictable macro-environment and drive long-term competitiveness, taking advantage of advanced technologies. In an evolving global landscape, regional collaboration with suppliers, technology providers and policymakers will be key to build a resilient and adaptable manufacturing ecosystem.”

Rising tariffs and strain on supply chains drive reindustrialization
Supply chain resilience, geopolitical concerns, and a desire to be closer to customers emerge as the top drivers of reindustrialization. Supply chain pressure is cited by an overwhelming majority (95%) of executives, a significant increase from 69% in 2024. The desire to be closer to customers is cited for the first time, arriving in second position (92%).

Rising tariffs are further exacerbating supply chain challenges, with 93% of executives expressing concerns about their impact. Reindustrialization is increasingly viewed as a strategic response to the geopolitical environment – notably for battery/energy storage manufacturing, automotive and telecom – with more than half of executives across regions stating that tariffs are accelerating their reshoring and reindustrialization efforts.

Executives acknowledge the complexity and cost of reindustrialization. More than six in ten (62%) expect rising capital costs in the next three years but half foresee reduced logistics and supply chain costs within the same period thanks to greater proximity to customers. In addition, nearly two-thirds still view the domestic skills gap as a major challenge, showing no improvement from 2024.

Nearshore and friendshore manufacturing to surge in the next three years
Over the past year, business leaders across sectors say that they have intensified their strategy to relocate their production and supply chain with more than half (56%) having invested in either nearshoring or combined reshoring and nearshoring of their manufacturing, up from 42% in 2024. This trend is predicted to continue. In the next three years, onshore and nearshore operations are expected to rise to account for 48% (up 7 percentage points) and 24% (up 2 percentage points) respectively, of total manufacturing capacity.

According to the report, ‘friendshoring’ is poised to become a key route forward for most organizations (73%) in terms of sourcing and production. It is expected to account for 41% of total manufacturing capacity in the next three years, up from 37% in 2024. More than eight in ten (82%) executives indicate that they plan to reduce supply chain reliance on China, a significant increase from 58% in 2024. Organizations surveyed have instead targeted reindustrialization destinations in North America, UK, Mexico, Vietnam, India and North Africa.

Advanced technologies to accelerate reindustrialization while driving innovation and reducing costs
Most organizations (62%) are focusing on upgrading manufacturing facilities to make them smart and tech enabled. Over half of them have realized more than 20% cost savings through digital technologies in their reindustrialization efforts and a large majority (84%) plan to invest in advanced manufacturing technologies to further reduce costs.

More than 6 in 10 organizations are looking at critical technologies like data and analytics and AI/Machine Learning to support reindustrialization in the next three years. Organizations are also considering emerging technologies such as Gen AI and 5G & Edge computing; blockchain and digital twins; and quantum technologies.

In addition, nearly three quarters (73%) of organizations foresee that reindustrialization will help catalyze a shift toward sustainable and eco-friendly manufacturing practices, a significant increase from 56% in 2024.

To read the full report: LINK

Report Methodology
During January 1-20, 2025, the Capgemini Research Institute surveyed 1,401 executives employed at organizations with more than $1 billion in annual revenue, across the US, the UK, and continental Europe (France, Germany, Italy, the Netherlands, the Nordics, and Spain). Organizations surveyed operate across 13 key industrial and manufacturing industries. Executives surveyed were at director level and work across diverse business, technology, and manufacturing-related functions. The Capgemini Research Institute also interviewed supply chain and manufacturing executives and experts at large organizations globally.

About Capgemini
Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

Get The Future You Want | www.capgemini.com

About the Capgemini Research Institute
The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.

Visit us at https://www.capgemini.com/researchinstitute/

1 In this research, reshoring is defined as bringing manufacturing/production back to the domestic market/country of headquarters. Nearshoring is defined as moving manufacturing/production to a nearby or neighboring country. Friendshoring is a growing trade practice where supply chain networks are focused on countries regarded as political and economic allies, to further reduce risk exposure.

Attachments
- 2025_03_31_Capgemini_Press release_Reindustrialization of Europe and The US report_2nd edition
- Capgemini-Infographic-Reindustrialization of Europe and The US report_2nd edition
The MIL Network –
March 31, 2025
MIL-OSI Economics: Samsung Expands Its Smart Laundry Offerings With Bespoke AI Laundry Vented Combo

Source: Samsung

▲ Bespoke AI Laundry Vented Combo_Dark Steel

Samsung Electronics today announced the addition of the Bespoke AI Laundry Vented Combo1 — an All-in-One Washer and Electric Dryer with a 7-inch AI Home touchscreen – to its lineup of Bespoke AI Laundry appliances. The combined unit eliminates the need to transfer laundry between washing and drying, while also bringing fast drying performance and intelligent functionality that makes laundry remarkably convenient.

Samsung has continued to innovate in the laundry room to offer consumers a wide array of washer and dryer models for spaces of all sizes and layouts. The Bespoke AI Laundry Ventless Combo was a standout in 2024, as it raised the bar for all-in-one washer-dryers by eliminating the common performance sacrifices associated with the format. The new Bespoke AI Laundry Vented Combo builds on its innovation and success, giving consumers another stylish and convenient space-saving option.

“At Samsung, our mission is to create smart home solutions that make life easier, more efficient and more sustainable, elevating home space to the next level in both performance and style,” said Jeong Seung Moon, EVP and Head of R&D Team for Digital Appliances Business at Samsung Electronics. “The Bespoke AI Laundry Vented Combo brings exceptional time-saving efficiency to the laundry room in a compact all-in-one solution.”

Convenient, Time Saving Functionality
▲ Bespoke AI Laundry Vented Combo_SuperSpeed

The Bespoke AI Laundry Vented Combo is a powerful model that washes and dries clothes completely in a single machine in just 68 minutes2 when using the Super Speed cycle. Its roomy 5.3 cu. ft. Ultra Capacity drum lets users do more laundry in a single load, and its vented design uses the internal heater and fan to move hot air through clothes and vent out moisture, ensuring clothes are always dried quickly and thoroughly. For even more convenience, the Vented Combo can simply swap out the currently installed washer and electric vented dryer.

And with Samsung’s AI Bubble technology, users can enjoy clean clothes, cycle after cycle. Water, air and detergent combine to create a cleansing foam that seeps into fabrics for an effective wash. To tackle tough stains without spending time pretreating them, the Steam Wash cycle comes into action. The drum releases steam to thoroughly saturate every item in the load and ensure an effective deep clean.

Effortless Operation
▲ Bespoke AI Laundry Vented Combo_Lifestyle

Like the other products in Samsung’s Bespoke AI Laundry lineup, the Vented Combo automates the process of washing and drying clothes, streamlining laundry routine and making it faster, easier experiences. Its intuitive 7-inch AI Home display is simple to use and gives a quick access to the Combo’s settings for effortless operation. And for those busy moments when the user is multi-tasking or has their hands full, convenient Voice Control capabilities let them give commands to turn the Combo on or off, access settings and more.3

Samsung’s AI Opti Wash & Dry technology uses powerful AI sensors to detect soil levels and fabrics, automatically adjusting settings as needed during the cycle to deliver a better wash and dry.4 For added convenience, the Flex Auto Dispense System automatically dispenses up to 47 loads5 of detergent — or users can choose to split the compartment, so it dispenses up to 34 loads of fabric softener and 25 loads of detergent. And when the clothes are finished drying, the Auto Open Door pops open, allowing leftover moisture to evaporate, preventing unpleasant, musty odor so clothes are fresh and dry when taken out.

And with built-in Wi-Fi connectivity, users can also get end-of-cycle alerts and remotely start, stop or delay the Combo from their mobile phone, using the SmartThings app.6

Innovations To Improve Energy Efficiency
▲ Bespoke AI Laundry Vented Combo_Lifestyle1

The Bespoke AI Laundry Vented Combo is engineered for seamless sustainable living. As an ENERGY STAR® Certified washer-dryer, it has been recognized by the U.S. Environmental Protection Agency (EPA) for delivering energy efficiency along with the latest in technological innovation.7

SmartThings Energy allows them to monitor power consumption and estimate their monthly electricity bill for improved control over their energy usage.8 They can also turn on AI Energy Mode9 to have the Vented Combo automatically optimize its energy consumption and reduce usage by up to 30%.10 The Vented Combo is also equipped with Samsung’s Less Microfiber cycle setting, which allows users to gently clean synthetic textiles while reducing 39% of microfibers released into the ocean.11

Availability and Pre-Orders
Samsung’s Bespoke AI Laundry Vented Combo comes in two premium colors — Dark Steel and Brushed Black for the U.S. consumers. Only the Brushed Black is available in Canada and the Dark Steel in Mexico. For those who prefer the ventless version, the Bespoke AI Laundry Ventless Combo with Heat Pump is available in Dark Steel.

The Bespoke AI Laundry Vented Combo is now available for pre-order in the U.S. and will be available in Canada and Mexico in 2Q of 2025.

1 Among 27″ combo washer/dryers. Sold only in USA, Canada and Mexico.2 Based on using a Super Speed cycle only with a 10 lb. DOE load (cotton 50% + polyester 50%). Individual results may vary based on actual load content.3 Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required. Bixby availability may vary depending on the country. Bixby only recognizes certain accents and dialects of English (U.K.), English (U.S.), English (India), French (France), German (Germany), Italian (Italy), Korean (South Korea), Mandarin Chinese (China), Spanish (Latin America), Spanish (Spain) and Portuguese (Brazil).4 Fabric sensing operates for 8 lbs (3.6kg) and under. Based on AI algorithm using IEC 8 lbs (3.6kg) load. To prevent wear, wash like fabrics together. Results may vary.5 Expected number of loads: Detergent compartment can hold general detergent for up to 25 loads. Flex compartment can hold one of the following: softener for up to 34 loads, general detergent for up to 22 loads or specialty detergent for up to 29 loads. Actual results may vary depending on individual use.6 Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required.7 Visit www.energystar.gov for more information on ENERGY STAR® guidelines.8 Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required.9 Can be applied on Towels, AI Opti Wash & Dry , Heavy Duty, Super Speed, Small Load cycle only when the selected washing temperature is ‘hot.’ Applicable to wash only.10 Based on internal testing with IEC 8lbs. (3.6kg) load except for Small Load cycle [IEC 4lbs. (1.8kg) load]. Results may vary depending on the actual usage conditions.11 Based on testing by the Ocean Wise Plastics Lab using a 2kg load of 100% polyester hoodies, comparing the Synthetics cycle on a Samsung conventional model 27″ washing machine with US design and the Less Microfiber cycle. Results may vary depending on the actual clothes and usage conditions. Applicable to wash only.

MIL OSI Economics –

March 31, 2025
MIL-OSI Economics: Samsung Electronics Unveils ‘AI Home’ Vision at Welcome to Bespoke AI Event

Source: Samsung

Samsung Electronics unveiled its refreshed “AI Home” vision and innovative appliance lineup at its global launch event, Welcome to Bespoke AI, in Seoul, Korea. With a focus on providing a more secure and intuitive user experience, the company introduced an AI Home experience, showcasing advanced AI features and a wider range of screen-enabled appliances.

Jeong Seung Moon, EVP and Head of the R&D Team for Digital Appliances Business at Samsung Electronics, opened the global press conference by introducing the company’s vision for creating an AI Home that harmoniously connects various devices and, as a result, caters to user needs in every room of the home.

“Through our Bespoke AI appliances, Samsung has brought an AI Home to life that not only enhances everyday convenience but also enables energy savings and care,” said Jeong Seung Moon. “We will continue to expand the advanced AI Home to more households, leveraging smart screens, Bixby and Knox security.”

The 2025 Bespoke AI Appliance Lineup
▲ Samsung unveiled the new Bespoke AI appliances for 2025.

During the event, Samsung introduced its Bespoke AI appliances for 2025, which bring new and innovative functionalities to solve users’ difficult problems.

At the heart of the company’s vision is the AI Home display.1 Built upon the innovation of the first introduction of the AI Home display last year, the AI Home with new size options has been expanded to a broad range of new products, such as Bespoke AI Refrigerators, the Bespoke AI Laundry Vented Combo, Washers and Dryers.2

The 9-inch AI Home screen on the Bespoke AI Refrigerator lineup increases consumers’ options by offering a similar experience to what’s available on the larger AI Family Hub screen. With the upgraded AI Vision Inside,3 food management has been enhanced with new features such as automatic recognition of processed food items,4 for models with the AI Family Hub and those with the AI Home. Through the 7-inch AI Home in the Bespoke AI Laundry, users can intuitively control the washing and drying cycles, as well as monitor and control other connected devices.5

Moreover, the new Bespoke AI appliances bring enhanced features that adapt to consumer needs. For example, the Bespoke AI Hybrid Refrigerator utilizes AI to efficiently cool the inside of the fridge, detecting its current status and predicting internal temperature changes to effectively adapt cooling.

The Bespoke AI Laundry includes new functions to enhance consumer convenience, with new standalone models that have upgraded AI Wash and AI Dry to AI Wash+ and AI Dry+,6 as well as models to be launched in Europe, using up to 55% less energy than class A minimum requirements for the washer.7 Also, Samsung unveiled the new Bespoke AI Laundry Vented Combo, which is the first ever vented combo in its class.8 It significantly reduces drying time, finishing both washing and drying in 68 minutes with its Super Speed cycle.

Samsung is continuing to innovate its vacuum cleaner lineup, as well. The cordless stick vacuum cleaner, the Bespoke AI Jet Ultra, will be launched with the world’s most powerful9 suction power of up to 400W.10 The upgraded AI Cleaning Mode 2.011 classifies more diverse environments12 like corners13 and the type of carpets14 for improved cleaning performance.

Samsung also revealed the Bespoke AI Jet Bot Steam Ultra.15 Not only is the robot vacuum cleaner designed to climb thresholds, but it is also enhanced with AI Object Recognition for complex environments,16 which can recognize obstacles as small as 1cm, and even transparent liquids17 for better cleaning results. And when it encounters corners or walls, the brush pops out, allowing it to clean areas that can be difficult for typical robot vacuum cleaners to deal with.

Samsung Home Appliances Bring Easy To Use, Care and Saving to Consumers
Samsung elaborated further on its “AI Home” vision and its commitment to integrating AI across the connected experience to cater to diverse lifestyles — through the core benefits of Easy to Use, Care and Saving.

Thanks to the adoption of the AI Home display, users will find it easier than ever to engage with the full functionality of their Bespoke AI appliances. The smart screen is now an even better central control hub, even connecting third party devices through SmartThings without the need for a separate hub device.18 Users can also utilize features like the refrigerators’ Daily Board to receive personalized information and better manage their day — or use Map View to effortlessly monitor and control other connected devices.

The upgraded Bixby allows for easier control of appliances through voice commands and enhances usability through new features like Voice ID.19 It personalizes services by recognizing the user’s voice, automatically switching to the Samsung account of the speaker and showing their calendar on the screen. And if that person also uses the low vision option on their Galaxy smartphone, it will be automatically synced to the screen for a better viewing experience.

New SmartThings services were also introduced during the event, including Family Care,20 which sends an alert to other family members if a user’s movement is not detected at the set time — or if there is no activity for a certain amount of time after the last activity. It is also possible to use the robot vacuum cleaner to look for signs of an emergency, with all of this functionality being tightly secured by Samsung Knox.

Continued Efforts To Deliver Reliable Experiences
To complete its “AI Home” vision for 2025, Samsung shone a light on how it is pushing the boundaries of innovation, prioritizing a trusted experience for users.

First, Samsung will apply enhanced Knox security to devices across the lineup so that users will be able to enjoy their AI Home experience with peace of mind. This year in particular, Trust Chain, which is part of Knox Matrix, is applied to all Wi-Fi enabled appliances launching in 2025. Users can continuously monitor products’ security status in real time through the dashboard.21

Knox Vault is also applied to home appliances for the first time,22 storing particularly sensitive user information, such as passwords and authentication information, in a separate hardware chip to ensure protection. Furthermore, to protect against the potential of future quantum attacks, Samsung’s security is also equipped with post-quantum cryptography (PQC), a part of Knox Matrix Credential Sync, for its screen-applied products.23

Another key priority for Samsung is making sure that customers can use the latest software features on their existing appliances without buying new ones. With Smart Forward,24 the software update service through SmartThings, Samsung continuously updates its appliances with new features to enhance the consumer experience.

Samsung is also actively improving product maintenance. SmartThings Home Care utilizes AI to diagnose each appliance’s status, and if signs of malfunction are detected, it sends a notification in advance. In addition, a technical support representative can provide guidance on remote measures based on pre-diagnosis results.25 This support feature has already expanded to more countries, including France, Netherlands and Canada, following Korea and the United States.

By integrating all of these wide-ranging initiatives, Samsung aims to create safer and more reliable smart home experiences that users can enjoy with comfort and peace of mind.

▲ Samsung DA held a global event to unveil its vision and new products.

1 AI Home display refers to the 7″ or 9″ LCD screen on the product. Does not mean all services available on the AI Home are AI or generate information or outcome using AI. Certain functions accessible through the AI Home utilize AI-based algorithms, which can be updated periodically to improve accuracy. AI-based algorithms may generate incomplete or incorrect information.2 AI Home is available on select models, and its availability may vary by region.3 Available on select T-Type and French Door refrigerator models. As of April 2025, AI Vision Inside can recognize 37 food items like fresh fruits and veggies. If the food is not recognizable, it may be listed as an unknown item. AI Vision Inside cannot identify or list any food items in the fridge door bins or freezer. It recognizes food items based on deep learning models, which may be updated periodically to improve accuracy.4 AI Vision Inside will recognize and recommend that users save processed food items that have been placed inside multiple times, allowing up to 50 items to be saved with the designated name. Processed foods are limited to those that keep a certain packaged form. AI Home recommends saving the item after it has been input more than 4 times during 30 days.5 A Wi-Fi connection and a Samsung account are required. Third-party devices must be SmartThings compatible.6 Based on an advanced AI-created algorithm. It may not detect certain fabrics or accurately identify them when a load includes a mixture of different fabric types. To prevent wear, wash like fabrics together. For US, the names of features are applied differently; AI OptiWash and AI OptiDry to AI OptiWash+ and AI OptiDry+.7 Based on Samsung internal testing. The energy consumption of this 9KG model is EEI 21.8, which is 55% more energy efficient compared to the minimum threshold of energy efficiency class A (EEI 52 for 9KG models). Energy ratings tested with Eco 40-60 program, 55% savings tested with Eco 40-60 program.8 Among 27” vented washer/dryers. Sold only in the U.S., Canada and Mexico.9 Based on testing by SLG Prüf- und Zertifizierungs GmbH, in accordance with the IEC 62885-4 Cl.5.8 standard, using a handheld type vacuum cleaner (with no brush) in Jet mode. The results were compared to cordless stick vacuum models available on the market with a stated suction power within 30% of the actual suction power of the Samsung model tested by SLG. Based on sales data between January 2024 and December 2024 as compiled by an independent market research institute.10 Based on testing by SLG Prüf- und Zertifizierungs GmbH, in accordance with the IEC 62885-4 Cl.5.8 standard. Measured at the inlet of the non-motorized tool when the dustbin is empty, using Jet Mode and a large capacity battery that is fully charged. Lasts up to 1 min.11 The updated functions of AI Cleaning Mode 2.0 can be activated after registering the stick vacuum cleaner on the SmartThings App. The operation of AI Cleaning mode 2.0 may be limited in certain environments, such as when the All-in-one Clean Station is unplugged or Wi-Fi connection is unstable or the Bluetooth connection status between the stick vacuum cleaner and the All-in-one Clean Station is unstable. If AI Cleaning mode 2.0 does not work frequently, please move the All-in-one Clean Station to a space without obstacles nearby. To enable continuous function updates, keep Wi-Fi on in the house on at all times.12 The ability to identify different cleaning environments and the time it takes to change the settings can be affected by environmental conditions.13 When used with Slim LED Brush+. Corner and floor-wall joint detection only operates in hard floor environments. “Corner” refers to the area where two flat and closed walls meet. The suction power increases about 2-3.5 seconds after the brush is pressed against the wall. If the brush contacts only one side of the corner or if there is a gap in the corner, it may not be recognized as a corner, and the recognition accuracy and reaction speed may vary depending on the wall shape and actual usage environment.14 When used with Active Dual Brush.15 Product features are still in development and may change. It does not guarantee final specifications.16 Based on our deep learning model trained using a predefined set of data and may yield incomplete or incorrect information. New datasets may be introduced to our learning model from time to time to enhance its accuracy.17 A liquid spill is defined as having a size of 7cm x 7cm or larger. Identification may be affected by the size of the stain or the environmental conditions of the floor, such as the floor pattern.18 Available in the refrigerators’ 32” AI Family Hub and/or 9” AI Home. A Wi-Fi connection and a Samsung account are required. All products must be connected to SmartThings. Only 3rd party devices that are compatible with SmartThings can be registered.19 Bixby availability may vary depending on the country. Bixby only recognizes certain accents and dialects of English (U.K.), English (U.S.), English (India), French (France), German (Germany), Italian (Italy), Korean (South Korea), Mandarin Chinese (China), Spanish (Latin America), Spanish (Spain) and Portuguese (Brazil). Voice ID will be available starting May of 2025 through Smart Forward update. Launch date may differ according to region and country. Bixby activated Samsung Account is required. Up to six accounts can be registered per device. To increase the accuracy of identifying each voice, it is recommended for you to register your voice in quiet surroundings. Voice ID is done based on the tone of voice used during registration process. Any change or modification to your voice may lead to misidentification.20 Appliance must support Wi-Fi and connect to SmartThings to activate service. Users can activate the service on the SmartThings.21 Trust Chain Dashboard is applied to appliances with 7-inch or 9-inch AI Home, and AI Family Hub screen launching in 2025.22 Knox Vault is applied to Bespoke AI Jet Bot Steam Ultra and appliances with 7-inch or 9-inch AI Home, and AI Family Hub screen launching in 2025, except Bespoke AI Oven.23 PQC is applied to appliances with 7-inch or 9-inch AI Home, and AI Family Hub screen launching in 2025, except Bespoke AI Oven.24 Smart Forward updates are available for software only, and for models released after 2017 that are equipped with standardized OCF protocol. Adequate hardware specifications may be required for certain updates. Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required.25 Applicable to appliances launched after 2018 and is supported on models with standardized OCF protocol released from 2018 onward. Supported features may vary according to region and country. Appliance must support Wi-Fi and connect to SmartThings to activate service.

MIL OSI Economics –

March 31, 2025

MIL-OSI Submissions: Geopolitical Risks and Trade Conflicts: How Resilient is the Swiss Economy? – KOF

Source: KOF Economic Institute

Since the new U.S. administration took office, geopolitical risks and international trade conflicts have significantly intensified. KOF has examined the risks and possible consequences for the Swiss economy. The findings show: trade conflicts can lead to declines in Swiss gross domestic product (GDP), ranging from fractions of a percent to over one percent per year on a sustained basis. In the case of severe and prolonged trade conflicts, the economy could fall into a recession.

In their KOF Working Paper “Resilience of Small Open Economies to Geopolitical Shocks: The Case of Switzerland,” Hans Gersbach, Paul Maxence Maunoir, and Kieran James Walsh examine various scenarios concerning the risks to the Swiss economy arising from trade conflicts and its consequences. “The Swiss economy is both resilient and vulnerable,” summarizes Hans Gersbach, Co-Director of KOF Swiss Economic Institute, reflecting on the study’s findings.

Although the Swiss economy is relatively resilient to the effects of geopolitical shocks, it is also quite vulnerable in the event of intense and prolonged trade conflicts. In such cases, permanent losses of around one percent of GDP per year are possible. In some scenarios, additional effects (so-called “second-layer” effects) can further amplify these losses. If severe trade conflicts were to arise between the U.S., Mexico, and Canada, as well as between the U.S. and Europe, there would be a clear risk of recession for several countries, including Switzerland.

Two-Stage Process for Analysis

To examine the resilience of the Swiss economy, the authors employed a two-step approach. The impact of geopolitical disruptions on international trade in goods and services for Switzerland and other countries is analyzed using the new “KOF Trade Model”. This model is a modern quantitative general equilibrium model of global trade networks. It captures the effects of relative price and demand changes resulting from tariffs, how companies respond in their production of goods and services, and feedback effects on all market participants.

However, a number of further effects—such as downward amplification, structural changes in investment activity, further nominal exchange rate fluctuations, or product-specific supply chain disruptions—are not included in the model. Depending on the scenario, these second-layer effects may have minor, significant, or major implications. They must therefore be considered for a comprehensive assessment.

In (Almost) All Scenarios, the Economy Suffers Losses

The Swiss economy is particularly vulnerable if the U.S. administration imposes tariffs on imports from all countries, including key sectors of the Swiss economy. These sectors would include the pharmaceutical industry, mechanical engineering, and precision instruments for instance. If this scenario were to occur, the Swiss economy would be the most affected of all countries on the European mainland. If the European Union (EU) responded to broad U.S. import tariffs with comprehensive countermeasures, also against Switzerland, significant losses could arise—potentially exceeding 1% of GDP.

However, in both scenarios, the economies of the U.S. and major countries in the EU would suffer similarly or even more. Therefore, such comprehensive tariff wars are difficult for these countries to sustain in the long term and are not considered the most likely scenario. Should critical raw materials or computer chips become unavailable due to geopolitical tensions, or if there were a rapid policy-driven decoupling between a Western sphere (including Switzerland) and a sphere centered around China, major disruptions would be expected. Such a decoupling could even lead to a global economic crisis.

Conclusion

Our results provide a foundation for discussion on how the economic resilience of Switzerland can be strengthened and what role the state should play in this process. Key policy levers include free trade agreements to promote diversification and risk mitigation, conditions to ensure supply security, and the government’s contribution to a resilient innovation system.

MIL OSI – Submitted News –

March 31, 2025

MIL-OSI Asia-Pac: English rendering of PM’s address in the 120th Episode of ‘Mann ki Baat’ on 30.03.2025

Source: Government of India

Posted On: 30 MAR 2025 11:41AM by PIB Delhi

My dear countrymen, Namaskar. Today, on a very auspicious day, I have got the opportunity to talk to you through ‘Mann Ki Baat’. Today is the Pratipada Tithi of the Shukla Paksha of the Chaitra month. Chaitra Navratri is beginning from today. The Indian New Year is also commencing from this day. This is also the start of Vikram Samvat 2082. At the moment, I have many of your letters in front of me. Some are from Bihar, some from Bengal, some from Tamil Nadu & some from Gujarat. In these, people have expressed their inner most thoughts in a very interesting way. Many letters also comprise good wishes and congratulatory messages. But today I feel like sharing some messages with you –

Prime Minister (Sarvarigu Yugadi Habbadaa Shubhaashegadu) – Happy Ugadi festival to all

The next message is –

Prime Minister (Andariki Ugadi Shubhaakaankshalu) – Happy Ugadi festival to all

Now in another letter it is written –

Prime Minister (Saunsaar Paadvyaachi Parbi) – Greetings on Saunsaar Padwa

Inscribed in the next message is –

Prime Minister (Gudipaadwya Nimitta Haardik Shubhechhaa) – Heartiest greetings on the occasion of Gudi Padwa

One of our friends has written –

Prime Minister (Illaavarakkum Vishu Aashamshagal) – Happy Vishu festival to all

Another message is –

Prime Minister (Inniy Puttaand Nalla Vaazhathukkal) – Happy New Year to all

Friends, you must have understood that the messages have been sent in different languages. But do you know the reason behind this? This exactly is the special thing that I want to share with you today. New Year is starting today and during the next few days in different states of our country. And all these messages are of greetings for New Year and various festivals. That is why people have sent me greetings in different languages.

Friends, today the festival of Ugadi is being celebrated with great fervour in Karnataka, Andhra Pradesh, Telangana. Today itself, Gudi Padwa is being celebrated in Maharashtra. In our country full of diversity, during the next few days, in different states, ‘Rongali Bihu’ will be celebrated in Assam, ‘Poila Boishakh’ in Bengal, ‘Navreh’ in Kashmir. Similarly, between 13th and 15th April, there will be joyous celebration of festivals in different parts of the country. There is an atmosphere of excitement about this too and the festival of Eid is also there. That means this whole month is of festivals; of festivities. I extend my greetings to the people of the country on these festivals. These festivals of ours may be in different regions, but they show how unity is woven into the diversity of India. We have to keep reinforcing this spirit of unity, on our way ahead.

Friends, at the advent of exams, I have a discussion, ‘Pariksha Pe Charcha’, with young friends. Now the exams are over. In many schools, preparations are on to resume the classes. After this, summer vacations are also round the corner. Children eagerly await this time of the year. I am reminded of my childhood days when my friends and I used to play one prank or the other all day long. But simultaneously, we used to do something constructive and learn too. Summer days are long and children have a lot to do during the time. This is the time to inculcate a new hobby as well as hone your skills. Today, there is no dearth of platforms for children where they can learn a lot.

For example, if an organization is running a technology camp, children can learn about open-source software along with developing apps. Be it environment, be it theatre or be it leadership, courses on various subjects are being conducted… they can join them as well. There are many schools that teach speech or drama, which are very useful for children. Apart from all this, you also have the opportunity to join volunteer activities and service endeavours going on at many places during these holidays. I specially urge you regarding such programs… If any organisation, school or social institution or science centre is organising such summer activities, do share it with #MyHolidays. This will help children and their parents from across the country to get information about these easily.

My young friends, today I would also like to discuss with you the special calendar of MY-Bharat, which has been prepared for this summer vacation. At the moment, copy of this calendar is kept in front of me. I want to share some unique efforts through this calendar. For example, in the study tour of MY-Bharat, you can know how our ‘Jan Aushadhi Kendras’ function. You can undergo a unique experience in the border villages by becoming a part of the vibrant village campaign. Along with this, you can definitely become a part of the cultural and sports activities there. At the same time, by participating in the padyatra on Ambedkar Jayanti, you can also spread awareness about the values of the Constitution.

I specially urge children and their parents as well to share their holiday experiences with #HolidayMemories. I will try to include your experiences in the upcoming ‘Mann Ki Baat’.

My dear countrymen, as soon as the summer season approaches, preparations for saving water begin in many cities and villages. In many states, works related to water harvesting and water conservation have gained new momentum. The Ministry of Jal Shakti and numerous NGOs are working in that direction. Thousands of artificial ponds, check dams, borewell recharge and community soak pits are being constructed in the country. Like every year, this time too, preparations have been made on a war footing for the ‘catch the rain’ campaign. This campaign too, is not of the government… but of the society, of the Janata-Janaardan; the people. Jal Sanchay-Jan Bhagidari Abhiyan is also being run to connect more and more people with water conservation. The endeavour is to safely pass on the natural resources that we have, to the next generation.

Friends, by conserving raindrops, we can save a lot of water from getting wasted. Over the last few years, under this campaign, unprecedented tasks related to water conservation have been undertaken in many parts of the country. I will give you an interesting figure. During the last 7-8 years, over 11 billion cubic metres of water has been conserved through newly built tanks, ponds and other water recharge structures. You must now be wondering how much 11 billion cubic metres of water is?

Friends, you must have seen the pictures of the water that gets accumulated in the Bhakra Nangal dam. This water forms the Govind Sagar lake. The length of this lake is more than 90 kilometres. Even in this lake, not more than 9-10 billion cubic metres of water can be conserved. Only 9-10 billion cubic metres! And the countrymen, through their tiny efforts, have managed to conserve 11 billion cubic meters of water in different parts of the country – isn’t that a great effort!

Friends, in this direction, the people of Gadag district of Karnataka have also set an example. A few years ago, the lakes of two villages dried up completely. There came a time when there was no water left even for the animals to drink. Gradually, the lake got covered with weeds and bushes. But some villagers decided to revive the lake and started working on it. And as they say, ‘where there is a will there is a way’. Noticing the efforts of the villagers, the social organizations in the vicinity also joined them. All of them, together cleaned the garbage and mud and after some time the lake area became completely clean. Now people are waiting for the rainy season. Indeed, this is a great example of the ‘catch the rain’ campaign. Friends, you can also join such efforts at the community level. You must make a plan from now on to take this mass movement forward, and you have to remember one more thing. If possible, keep cold water in an earthen pot in front of your house during summers. Keep water for birds on the roof of the house or even in the verandah. See how blessed you will feel after doing this punya karma (pious deed).

Friends, in ‘Mann Ki Baat’ we will now talk about adding wings to your zeal… About displaying passion despite challenges. In the Khelo India Para Games that concluded a few days ago, the players surprised everyone with their dedication and talent, once again. This time more players participated in these games than earlier. This shows how popular Para Sports is becoming. I congratulate all the players participating in the Khelo India Para Games for their sterling efforts. My best wishes for the players of Haryana, Tamil Nadu and UP for securing the first, second and third positions, respectively. During these games, our divyang players also set 18 national records. Out of which 12 were in the name of our women players. Arm wrestler Joby Mathew who won a Gold Medal in this year’s Khelo India Para Games has written a letter to me. I would like to read out an excerpt of his letter. He has written-

“Winning a medal is very special, but our struggle is not limited to just standing on the podium. We fight a battle every day. Life tests us in many ways… very few people understand our struggle. Despite this, we move forward with courage. We work towards fulfilling our dreams. We believe that we are no less than anyone else.”

Great! Joby Mathew, you have written an amazing, wonderful letter. I thank you for this letter. I want to tell Joby Mathew and all our Divyang friends that your efforts are a great inspiration for us.

Friends, another grand event in Delhi has inspired people a lot; filled them with enthusiasm. Fit India Carnival was organized for the first time as an innovative idea. About 25 thousand people from different fields participated in it. All of them had the same goal – to stay fit and spread awareness about fitness. People involved in this event got information related to their health as well as nutrition. I urge you to organize such carnivals in your area as well. MY-Bharat can be of great help to you in this initiative.

Friends, our indigenous games are now becoming a part of popular culture. You all must be knowing the famous rapper Hanumankind. His new song “Run It Up” is becoming quite famous these days. Our traditional Martial Arts like Kalaripayattu, Gatka and Thang-Ta have been included in it. I congratulate Hanumankind that due to his efforts people of the world are getting to know about our traditional Martial Arts.

My dear countrymen, every month I get a lot of messages from you on MyGov and NaMo App. Many messages touch my heart, while others fill me with pride. Many a time, these messages provide unique information about our culture and traditions. This time, I want to share with you the message that caught my attention.

Atharva Kapoor from Varanasi, Aaryash Leekha and Atrey Maan from Mumbai have written about their feelings on my recent visit to Mauritius. They have written that they greatly enjoyed the performance of “Geet Gawai” during this visit. I have felt similar sentiments in many letters received from eastern Uttar Pradesh and Bihar. What I felt during the wonderful performance of Geet Gawai in Mauritius was truly amazing.

Friends, when we stay connected to our roots, no matter how big the storm, it cannot uproot us. Just imagine, about 200 years ago, many people from India went to Mauritius as indentured labourers. Nobody knew what would happen next. But with the passage of time, they settled there. They carved a niche identity for themselves in Mauritius. They preserved their heritage and remained connected to their roots. Mauritius is not the only such example. Last year when I went to Guyana, the Chowtaal performance there impressed me a lot.

Friends, let me now play an audio for you.

#(Clip)#

You must be wondering that this must be about some part of our country. But you will be surprised to know that it is related to Fiji. This is the very popular ‘Phagwa Chowtaal’ of Fiji. This song and music fills everyone with fervour. Let me play another audio for you.

#(Clip)#

This audio is the ‘Chowtaal’ of Suriname. The countrymen watching this program on TV can see the President of Suriname and my friend Chan Santokhi Ji enjoying it. This tradition of coming together & singing is also very popular in Trinidad and Tobago. In all these countries, people read Ramayan a lot. Phagwa is very popular here and all Indian festivals are celebrated with full enthusiasm. Many of their songs are in Bhojpuri, Awadhi or mixed language; at times Braj and Maithili are also used. All those who preserve our traditions in these countries deserve appreciation.

Friends, there are many such organizations in the world, which have been working to conserve Indian culture for years. One such organization is – ‘Singapore Indian Fine Arts Society’. This organization, engaged in preserving Indian dance, music and culture, has completed its glorious 75 years. In the program related to this occasion, the President of Singapore, Shriman Tharman Shanmugaratnam Ji was the Guest of Honour. He praised the efforts of this organization. I extend my best wishes to this team.

Friends, in ‘Mann Ki Baat’, along with the achievements of the countrymen, we often raise social issues as well. Many a time, challenges are also discussed. This time in ‘Mann Ki Baat’, I want to talk about a challenge that is directly related to all of us. This challenge is of ‘textile waste’. You must be wondering, what is this new problem of textile waste?

Actually, textile waste has become a major cause of worry for the whole world. Nowadays, the trend of getting rid of old clothes as soon as possible and buying new ones is increasing all over the world. Have you ever thought what happens to the old clothes that you stop wearing? This becomes textile waste. A lot of global research is being done on this subject. It has come to light in a research that only less than one percent of textile waste is recycled into new clothes… less than even one percent. India is the third country in the world where the maximum textile waste is generated. This means that we also face a huge challenge. But I am happy that many commendable efforts are being undertaken in our country to deal with this challenge. Many Indian start-ups have started working on textile recovery facilities.

There are many such teams that are also working for the empowerment of our ragpicker brothers and sisters. Many young friends are involved in the efforts towards sustainable fashion. They recycle old clothes and footwear and distribute them to the needy. Many items like decorative pieces, handbags, stationery and toys are being made from textile waste. Many organizations are engaged in popularizing the ‘circular fashion brands’ these days. New rental platforms are also coming up, where designer clothes are available on rent. Some organizations collect old clothes, make them reusable and distribute them to the poor.

Friends, some cities are also carving a new identity for themselves in dealing with textile waste. Panipat in Haryana is emerging as a global hub for textile recycling. Bengaluru is also creating a distinct identity for itself with innovative tech solutions. More than half of the textile waste is collected here, which is an example for our other cities as well. Similarly, Tirupur in Tamil Nadu is engaged in textile waste management through wastewater treatment and renewable energy.

My dear countrymen, today along with fitness, count is also playing a big role. Count of the number of steps taken in a day, count of the number of calories eaten in a day, count of the number of calories burnt… amidst all these counts, another countdown is about to begin. The countdown to the International Yoga Day. Now less than 100 days are left for Yoga Day. If you have not yet included yoga in your life, do it now… it is not too late yet. The first International Yoga Day was celebrated 10 years ago on the 21st of June, 2015. Now this day has taken the shape of a grand festival of yoga. This is such a priceless gift from India to humanity, which is going to be very useful for future generation. The theme of Yoga Day 2025 has been kept as ‘Yoga for One Earth One Health’. That is, we wish to make the whole world healthy through yoga.

Friends, it is a matter of pride for all of us that today the curiosity about our yoga and traditional medicine is rising, all over the world. A large number of youths are adopting yoga and Ayurveda as an excellent medium for wellness.

For example, there is a South American country, Chile. Ayurveda is rapidly becoming popular there. Last year, during my visit to Brazil, I met the President of Chile. We had a lot of discussions about the popularity of Ayurveda. I have come to know about a team named ‘Somos India’. In Spanish, it means – ‘We are India’. This team has been promoting yoga and Ayurveda for almost a decade. Their focus is on treatment as well as educational programmes. They are also getting information related to Yog and Ayurveda translated into the Spanish language. If we talk about last year alone, about 9 thousand people participated in their myriad events and courses. I congratulate all the people associated with this team for their efforts.

My dear countrymen, now an interesting yet strange question in ‘Mann Ki Baat’! Have you ever wondered about the journey of flowers? Some flowers that bloom on trees and plants travel to temples. Some flowers beautify the house, some dissolve in perfume and spread fragrance everywhere. But today I will tell you about another journey of flowers. You certainly must have heard about Mahua flowers. People of our villages and especially the tribal community know very well about its importance. The journey of Mahua flowers in many parts of the country has now embarked upon a new path. Cookies are being made from Mahua flowers in Chhindwara district of Madhya Pradesh. These cookies are becoming very popular due to the efforts of four sisters of Rajakhoh village.

Observing the passion of these women, a big company trained them to work in a factory. Inspired by them, many women of the village have joined them. The demand for Mahua cookies made by them is increasing rapidly. In the Adilabad district of Telangana also, two sisters have carried out a new experiment with Mahua flowers. They make various types of dishes with them, which people like very much. There is also the sweetness of tribal culture in their dishes.

Friends, I want to tell you about another wonderful flower and its name is ‘Krishna Kamal’. Have you visited the Statue of Unity in Ekta Nagar, Gujarat? You will see these Krishna Kamal in large numbers around the Statue of Unity. These flowers captivate the tourists. These Krishna Kamal have become the centre of attraction in Arogya Van, Ekta Nursery, Vishwa Van and Miyawaki forest of Ekta Nagar. Lakhs of Krishna Kamal plants have been planted here in a planned manner. If you look around you, you will notice interesting journeys of flowers. Do write to me about such unique journeys of flowers in your area.

My dear friends, keep sharing your thoughts, experiences and information with me as always. It is possible that something may be happening around you which may seem normal, but for others that topic might be very interesting and new. We will meet again next month and discuss those things of countrymen which fill us with inspiration. Thank you very much to all of you, Namaskar.

**********

MJPS/ST/RT

(Release ID: 2116715) Visitor Counter : 307

MIL OSI Asia Pacific News –

March 31, 2025
MIL-OSI Asia-Pac: ‘Yoga for One Earth, One Health’ – Theme for IDY2025: PM in ‘Mann Ki Baat’
Source: Government of India

‘Yoga for One Earth, One Health’ – Theme for IDY2025: PM in ‘Mann Ki Baat’

It is a matter of pride for all of us that today the curiosity about our yoga and traditional medicine is rising, all over the world: Prime Minister Shri Narendra Modi

Prime Minister appeals to everyone to include Yoga into their routine and take pride in the country’s traditional wisdom for overall well being

Posted On: 30 MAR 2025 7:04PM by PIB Delhi

In his latest Mann Ki Baat address, the Prime Minister Shri Narendra Modi emphasized the importance of fitness in daily life and praised initiatives like the Fit India Carnival and International Yoga Day. While sharing India’s vision for a healthier world population, the PM mentioned, “The theme of Yoga Day 2025 has been kept as ‘Yoga for One Earth One Health’. That is, we wish to make the whole world healthy through yoga.”

Notably, the Morarji Desai National Institute of Yoga (MDNIY), a premier institute under the Ministry of Ayush, Government of India, has been entrusted with the responsibility of organising activities to mark the International Day of Yoga (IDY) this year on a grand scale. The institute recently unveiled the 100-day countdown to IDY2025 during the Yogamahotsav event held at Vigyan Bhawan, New Delhi on 13 March, 2025.

During the 120^th episode of the popular radio program, the Prime Minister said, “Today along with fitness, the count also plays a big role. Count the number of steps taken in a day, count the number of calories eaten in a day, count the number of calories burnt… amidst all these counts, another countdown is about to begin. The countdown to the International Yoga Day. Now less than 100 days are left for Yoga Day. If you have not yet included yoga in your life, do it now… it is not too late yet. The first International Yoga Day was celebrated 10 years ago on the 21st of June, 2015. Now this day has taken the shape of a grand festival of yoga. This is such a priceless gift from India to humanity, which is going to be very useful for future generations.”

As the world gears up for International Yoga Day (IDY) 2025, the theme “Yoga for One Earth One Health” takes center stage and a wide range of activities revolving around it is being held. The 2025 theme highlights yoga’s role in promoting physical, mental, and environmental well-being, aligning with global calls for sustainability and unity. It builds on a decade of success since the United Nations recognized June 21 as International Day of Yoga, following India’s proposal in 2014.

During the Mann Ki Baat programme, the Prime Minister also stated, “It is a matter of pride for all of us that today the curiosity about our yoga and traditional medicine is rising, all over the world. A large number of youths are adopting yoga and Ayurveda as an excellent medium for wellness. For example, there is a South American country, Chile. Ayurveda is rapidly becoming popular there. Last year, during my visit to Brazil, I met the President of Chile. We had a lot of discussions about the popularity of Ayurveda.

While acknowledging the fast growing popularity of Ayush systems across the globe and the contribution of key stakeholders in this, the PM said, “I have come to know about a team named ‘Somos India’. In Spanish, it means – ‘We are India’. This team has been promoting yoga and Ayurveda for almost a decade. Their focus is on treatment as well as educational programs. They are also getting information related to yoga and Ayurveda translated into the Spanish language. If we talk about last year alone, about 9 thousand people participated in their myriad events and courses. I congratulate all the people associated with this team for their efforts.”

Prime Minister Shri Narendra Modi also appealed to everyone to include Yoga into their routine and take pride in the country’s traditional wisdom for overall well being.

10 unique signature events to guide events to International Day of Yoga 2025

This year IDY activities will revolve around 10 unique signature events to mark the 11th edition of the global event, which makes it the most expansive and inclusive:
- ● Yoga Sangama – A synchronised Yoga demonstration at 10,000 locations, aiming for a world record.
- ● Yoga Bandhan – Global partnerships with 10 countries to host Yoga sessions at iconic landmarks.
- ● Yoga Parks– Development of 1,000 Yoga Parks for long-term community engagement.
- ● Yoga Samavesh – Special Yoga programs for Divyangjan, senior citizens, children, and marginalised groups.
- ● Yoga Prabhava – A decadal impact assessment on Yoga’s role in public health.
- ● Yoga Connect – A Virtual Global Yoga Summit featuring renowned Yoga experts and healthcare professionals.
- ● Harit Yoga – A sustainability-driven initiative combining Yoga with tree planting and clean-up drives.
- ● Yoga Unplugged– An event to attract young people to Yoga
- ● Yoga Maha Kumbh – A week-long festival across 10 locations, culminating in a central celebration led by the Hon’ble Prime Minister.
- ● Samyogam – A 100-day initiative integrating Yoga with modern healthcare for holistic wellness.
Annexure

The International Day of Yoga (IDY) has become a global wellness movement, uniting millions across countries. Here’s a brief look at its key milestones:
- ● IDY 2015 – New Delhi: The first IDY at Rajpath saw 35,985 participants, setting two Guinness World Records.
- ● IDY 2016 – Chandigarh: 30,000+ participants gathered at Capitol Complex, including 150 Divyangjan performing Yoga Protocol for the first time. The Prime Minister emphasised Yoga’s role in treating ailments like diabetes.
- ● IDY 2017 – Lucknow: 51,000 participants joined at Ramabai Ambedkar Maidan, with Yoga highlighted as affordable ‘health insurance’.
- ● IDY 2018 – Dehradun: 50,000+ participants at Forest Research Institute, with the theme “Yoga for Public Health”. ISRO launched BHUVAN-YOGA and Yoga Locator apps.
- ● IDY 2019 – Ranchi: Focused on ‘Yoga for Heart Care’, with eco-friendly Yoga accessories benefiting Khadi artisans.
- ● IDY 2020 – Virtual: Amid the pandemic, 12.06 crore people joined online. The “My Life, My Yoga” contest attracted entries from 130 countries.
- ● IDY 2021 – Virtual: Themed “Yoga for Wellness”, reaching 496.1 million people globally. Iconic celebrations occurred at Times Square, the Eiffel Tower, and Tokyo Skytree.
- ● IDY 2022 – Mysuru: 15,000 participants at Mysore Palace, with a ‘Guardian Ring’ global Yoga relay and VR-powered digital exhibition.
- ● IDY 2023 – Jabalpur & UN HQ, New York: With 23.44 crore participants, this IDY set two Guinness World Records, including the most significant Yoga session (1.53 lakh participants in Surat). The ‘Ocean Ring of Yoga’ covered 35,000 km.
- ● IDY 2024 – Srinagar: Held at SKICC, Srinagar, with 7,000 participants braving the rain. The ‘Yoga for Space’ initiative saw ISRO scientists join in. A Guinness World Record was set in Uttar Pradesh, with 25.93 lakh people pledging to Yoga. 24.53 crore global participants marked this as a historic celebration.
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MV/AKS

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MIL OSI Asia Pacific News –
March 31, 2025
MIL-Evening Report: These 3 arguments are part of the long game in Trump’s trade wars

Source: The Conversation (Au and NZ) – By Markus Wagner, Professor of Law and Director of the UOW Transnational Law and Policy Centre, University of Wollongong

Since returning to office in January, US President Donald Trump has doubled down on using trade measures – mostly tariffs – to reshape global trade. He plans to impose reciprocal tariffs on what he has labelled “Liberation Day”, April 2.

The Trump administration claims US producers face higher tariffs and more restrictions abroad than foreign producers when they export to the US.

The administration also examined tax systems such as Europe’s Value Added Tax and Australia’s GST, import regulations and other factors. It believes – mostly wrongly – these unfairly disadvantage American businesses and contribute to the US trade deficit.

As with many Trump initiatives, actual tariffs often change significantly between announcement and implementation, if they are implemented at all.

His reciprocal tariffs have been narrowed to imports from the US’ largest trading partners instead of imports from all countries. There may also be tariffs on specific sectors. Last week, Trump announced 25% tariffs on cars from overseas. At the weekend said he “couldn’t care less” if this made cars more expensive for US consumers.

Coercive control, revenue and re-shoring

President Trump has raised a myriad of puzzling arguments in favour of tariffs. They largely fall into three categories:

The first is the use of tariffs as a coercion tool against other countries. In the first Trump presidency, trading partners were pressured to renegotiate trade agreements such as the renamed but largely identical US-Mexico-Canada agreement.

Similarly, the Trump administration used the threat of tariffs to gain market access, elicit better trade terms or as a form of weaponised trade to achieve unrelated foreign policy goals.

Last week, Trump suggested he would consider a reduction in tariffs on China in exchange for a sale of TikTok by its Chinese owner.

The second category is the use of tariffs as a source of revenue. The Trump administration envisions tariffs to be collected by a yet-to-be-created External Revenue Service. This would form the flip side of the powerful and much-maligned Internal Revenue Service.

Trump claims tariffs will be paid by the exporting country. This would be in theory to finance future tax cuts. In practice, tariffs are almost always paid by the importer of goods and usually get passed on to consumers.

There is a potential contradiction between these two rationales. It appears the Trump administration wants to make at least some tariffs permanent. But doing so would almost nullify the use of tariffs as a bargaining chip and coercion tool.

The final category is to encourage companies to “re-shore” production to the US to avoid tariffs and to support US jobs.

This would signal a reversal of what 1994 presidential candidate Ross Perot, speaking of the North American Free Trade Agreement, called the “giant sucking sound going south”. Some manufacturing may return to the US. But the high costs of building new factories, re-routing supply chains and uncompetitive US labour costs will hinder large-scale re-shoring efforts.

A long-term plan?

The Trump administration’s trade moves can be seen as part of a larger strategy to reshape the US domestic and the global economic system.

In a recent speech, US Vice-President JD Vance argued for a structural reshaping of the US economy, to increase domestic innovation capacity.

Vance warned “deindustrialisation poses risks both to our national security and our workforce”. Vance himself sums up this approach by characterising tariffs as a “necessary tool to protect our jobs and our industries”.

This line of argument overlooks a number of critical factors. Tariffs lead to higher prices for consumers. Unless currencies adjust, the inflationary impact could disadvantage the very people that can least afford it.

The same is true if other countries respond to US trade measures by responding in kind, as Canada and the European Union already have.

American farmers and other export-oriented industries will be hard hit. From a strategic perspective, the US position as global leader has suffered a severe blow. Some countries are openly pivoting to its geopolitical and economic rival, China.

If this scenario comes to pass, the US pullback – an outright withdrawal is unlikely – from the highly integrated international trading system might end up a more chaotic version of the UK’s pursuit of Brexit.

A step back in time

The world of liberalised trade that followed the end of the Cold War in 1990 is ending. Countries will turn inwards, prioritising their economic security and resilience. The costs of this turn away from multilateralism and international institutions, however, are not just economic.

The close economic integration we have witnessed post-1990 has led to reduced uncertainty in international economic relations, increased international security and greater prosperity.

A return of the “beggar thy neighbour” policies of the 1930s would be a dangerous path, with the world inching closer to the abyss. “Liberation Day” might push the world over the edge.

Read more:
What are non-tariff barriers – and why is agriculture so exposed?

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

– ref. These 3 arguments are part of the long game in Trump’s trade wars – https://theconversation.com/these-3-arguments-are-part-of-the-long-game-in-trumps-trade-wars-252516

MIL OSI Analysis – EveningReport.nz –

March 31, 2025
MIL-OSI Submissions: Africa – Violence and Cholera ravage Northeastern South Sudan, Impacting Western Ethiopia with Outbreak and Refugee Influx – MSF

Source: Médecins Sans Frontières/Doctors Without Borders (MSF)

31st March: A humanitarian crisis is rapidly unfolding on both sides of the South Sudan-Ethiopia border, as escalating violence, displacement and a widespread cholera outbreak are pushing communities to the brink, Médecins Sans Frontières/Doctors Without Borders (MSF) warns.

Clashes between government forces and armed groups, which initially began in Upper Nile State, now risk spreading to other parts of the country, while across the border, Ethiopia’s Gambella region is experiencing the effects of this violence. According to the United Nations, approximately 10,000 displaced people have crossed into Ethiopia since the beginning of March.

“We have already witnessed how this violence has fuelled the spread of cholera in several areas, but a larger, escalating conflict could push the entire country into an unprecedented humanitarian catastrophe,” says Zakaria Mwatia, MSF Head of Mission in South Sudan. “We urgently call on all parties to the conflict to ensure the protection of civilians, healthcare workers, and medical facilities, and to grant unhindered access for humanitarian and medical assistance, in line with international humanitarian law.”

South Sudan has been grappling with cholera outbreaks across various parts of the country since last year. The latest wave, which began in Upper Nile State, is now spreading further into neighbouring Jonglei state, the Greater Pibor Administrative Area, and across the border into Ethiopia’s Gambella region, where MSF teams are working to treat patients amid the surge in cases.

In Upper Nile State, MSF is treating those wounded in the violence and supporting cholera treatment facilities in Ulang, Malakal and Renk counties. In Jonglei State, MSF is responding in Lankien as well as in Akobo, where a 100-bed cholera treatment unit set up by MSF in Akobo County Hospital has treated over 300 patients in just over two weeks. MSF is also responding in Pibor town in the Greater Pibor Administrative area. Since the beginning of March, MSF teams have treated over 1,000 cholera patients across South Sudan and received over 30 patients wounded in the violence.

Ruach Riek Chuol was admitted to MSF hospital in Ulang with injuries he sustained in the violence. “My goods and property for my business were all burned inside the house,” he says. “Everything was destroyed in the fire, including the house where I was.”

In Ethiopia’s Gambella region, MSF in collaboration with the Ministry of Health has treated over 560 cholera patients since the start of the response in early March, in its Cholera Treatment Centre and units (CTC/CTUs) in Mattar, Moan and Burbeiye with a capacity of 100 beds. MSF is also running oral rehydration points and conducting water, sanitation, and hygiene (WASH) and community-based activities including door-to-door cholera awareness and water purification efforts, reaching over 5,000 people across multiple locations. In addition to cholera treatment, MSF teams have also provided medical care to 160 patients wounded in the clashes in South Sudan.

“I came here because back home in Nasir, people are being killed,” said a South Sudanese mother who recently arrived in Burbeiye, Ethiopia. “There was nothing to eat, and when we arrived at the areas where we took respite, my kids became sick. There were no health facilities that we could run to.”

The situation is rapidly deteriorating as thousands fleeing violence in South Sudan are crossing the border to seek safety. In Wanthoa Woreda, a new encampment in Burbeiye has emerged almost overnight, with over 6,500 new arrivals reported by local administrators — many of them women, children, and the elderly, arriving after days of travel.

“The displaced people are arriving in Gambella with little more than what they can carry,” said Joshua Eckley, MSF Head of Mission in Ethiopia. “Our teams are responding to the cholera outbreak and providing care to those arriving exhausted and in poor condition. There are significant needs, and without additional support, the situation could worsen.”

This crisis comes at a time when South Sudan and Ethiopia are facing major reductions in donor funding, including the recent USAID cuts. While MSF does not accept funding from the US government, the cuts in the humanitarian and health assistance would severely reduce capacity of other organisations to respond to such crises.

“In places like Akobo in Jonglei State, the cholera response has been highly impacted by funding cuts, including closure of critical health services,” says Zakaria. “A number of mobile clinics have already shut down following US funding cuts, and some organisations that supported health facilities, including cholera treatment units, have suspended all activities. This is part of a broader trend across the country.”

The healthcare system in South Sudan suffers from chronic underfunding, shortages of skilled health staff, medicines and supplies, and has limited capacity to respond to emergencies. The country, already struggling to meet its own medical and humanitarian needs, is further burdened by the arrival of over one million people fleeing war in neighbouring Sudan. Urgent support is needed to provide safe water, implement widespread cholera vaccination campaigns, and reinforce treatment capacity for both cholera patients and trauma cases.

“Disruptions in cholera treatment services, combined with reduced actors’ capacity to support oral vaccination campaigns, heighten the risk of further spread. We urge donors to allocate emergency funds for emergency response in South Sudan and neighbouring Ethiopia amid this escalating crisis,” Zakaria adds.

MSF is an international, medical, humanitarian organisation that delivers medical care to people in need, regardless of their origin, religion, or political affiliation. MSF has been working in Haiti for over 30 years, offering general healthcare, trauma care, burn wound care, maternity care, and care for survivors of sexual violence. MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. In 2022, more than 120 project staff from Australia and New Zealand worked with MSF on assignment overseas. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au

MIL OSI – Submitted News –

March 31, 2025
MIL-OSI United Kingdom: UK hosts first major international summit to tackle illegal migration
Source: United Kingdom – Executive Government & Departments

News story

UK hosts first major international summit to tackle illegal migration

The UK has mobilised over 40 countries and organisations to launch an unprecedented global fight against ruthless people smuggling gangs.
The UK is spearheading the toughest ever international crackdown on organised immigration crime as the Prime Minister and Home Secretary host a landmark summit today (31 March).

The Organised Immigration Crime (OIC) Summit brings together over 40 countries, including the United States, Vietnam, Iraq, and France, to unite behind a new approach to dismantle people smuggling gangs and deliver on working people’s priorities for secure borders.

This is the first time the full range of factors driving illegal migration, from the supply chain in small boats to anti-trafficking measures, illicit finance and social media advertising, have been explored at a global summit of this scale.

The summit will also see representatives from Meta, X and TikTok discuss how to jointly tackle the online promotion of irregular migration.

Through the summit, the government will use all available levers at its disposal to push forward progress in bringing gangs to justice, tackle the global threat of organised immigration crime and protect vulnerable people from exploitation.

To back this drive, the Home Secretary has today announced £30 million of funding going directly to high impact operations from the Border Security Command to tackle supply chains, illicit finances and trafficking routes across Europe, the Western Balkans, Asia, and Africa.

An additional £3 million will enable the Crown Prosecution Service (CPS) to increase its capacity to prosecute organised international smugglers and expand its international footprint to support the Border Security Command to pursue, disrupt and arrest those responsible for dangerous people smuggling operations.

This reflects the Prime Minister’s long-held view, informed by his work as Chief Prosecutor, that cross border cooperation is the foundation of tackling international gangs and securing Britain’s borders.

In remarks delivered later today, the Prime Minister, Sir Keir Starmer, is expected to say:

This vile trade exploits the cracks between our institutions, pits nations against one another and profits from our inability at the political level to come together.

When I was the Director of Public Prosecutions, we worked across borders throughout Europe and beyond to foil numerous plots, saving thousands of lives in the process. We prevented planes from being blown up over the Atlantic and brought the perpetrators to justice.

I believe we should treat organised immigration crime in the same way.

I simply do not believe organised immigration crime cannot be tackled. We’ve got to combine our resources, share intelligence and tactics, and tackle the problem upstream at every step of the people smuggling routes.

The summit will deliver concrete outcomes across Europe, Asia, Middle East, Africa, and North America by strengthening international partnerships, enhancing intelligence sharing, and implementing targeted disruptions to Organised Immigration Crime networks.

As a direct result, we will be able to strengthen UK borders and security and create a more efficient and manageable asylum system, taking the burden away from housing, the NHS and schools, and giving hotels back to the local economy.

Speaking ahead of the summit, Home Secretary Yvette Cooper said:

Smuggler and trafficking gangs make their money crossing borders so law enforcement needs to work together across borders to bring them down. Only a coordinated international response, across the whole irregular migration route, can effectively dismantle these networks.

The Organised Immigration Crime Summit is the first of its kind and will reinforce the UK’s position as a leader by securing international commitments to disrupt Organised Immigration Crime at every stage of the business model.

The summit demonstrates mine and the Prime Minister’s absolute dedication to disrupting the callous Organised Criminal Gangs, strengthening our borders and ultimately save countless lives.

The UK’s global leadership on this is issue is already delivering results. France has agreed to launch a unit of specialist officers who are mobile, highly trained and equipped to respond dynamically to prevent small boat launches.

Germany has committed to strengthen their laws against those who facilitate smuggling to the UK and a new UK-Italy taskforce is hitting people smugglers’ financial flows. After boosting the resources for the National Crime Agency to work with international law enforcement partners, they have seized 600 boats and engines since July.

Along with this, work continues at home through giving law enforcement tougher powers than ever to smash the smuggling gangs, ramping up removals to record levels and surging illegal working raids to end the false promise of jobs used by gangs to sell spaces on boats.

This comprehensive approach is a vital aspect of the government’s Plan for Change, with the threat from organised immigration crime increasing in scale and complexity.

Organised immigration crime spans multiple countries, nationalities, and criminal methodologies, with recent estimate of the total global income from migrant smuggling reaching $10 billion last year.

Criminal gangs headed by hundreds of kingpins are using sophisticated online tactics, the abuse of legitimate goods and services, and illicit financial networks to facilitate dangerous and illegal journeys which undermine border security and put thousands of lives at risk each year.

The summit will also examine the work of the government’s Joint Maritime Security Centre (JMSC) in supporting the US, by providing innovative space-based maritime surveillance capability to monitor and dismantle any vessels along Haiti’s north coast suspected to be involved in illegal immigration, illegal fishing activities and drug smuggling.

The JMSC is harnessing cutting edge technology and capabilities to provide 24 hour monitoring of UK waters and ensure our borders are secure, by using satellite to provide a better overall understanding of incoming threats to the Turks and Caicos Islands. The UK government is working with our partners in Turks and Caicos to support and protect the Island from irregular migration.

This collaboration demonstrates the UK government’s commitment to deploying advanced capabilities against illegal migration while protecting overseas territories.

There has also been a series of major arrests of smuggling kingpins, including:

arrests linked to a major Syrian organised crime group responsible for smuggling at least 750 migrants into the UK and Europe

the arrest of a Turkish national suspected of being a huge supplier of small boats

the conviction of 2 men in Wales who ran a smuggling ring moving thousands of migrants across Europe

the arrests in February of 6 men wanted in Belgium over their suspected involvement in a major people smuggling ring

These arrests come alongside the NCA working with the authorities in the Kurdistan Region of Iraq for the first time, to facilitate the arrests of 3 men linked to a Kurdish people smuggling organised crime group, as well as an increase in the takedown of social media accounts linked to people smugglers.

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Published 31 March 2025
MIL OSI United Kingdom –
March 31, 2025
MIL-OSI USA: After Visiting Guantanamo Bay, Senators Blast Trump Admin for Wasting Taxpayer Dollars & Misusing Military Resources

US Senate News:

Source: United States Senator Alex Padilla (D-Calif.)

After Visiting Guantanamo Bay, Senators Blast Trump Admin for Wasting Taxpayer Dollars & Misusing Military Resources

Delegation scrutinizes military role in DHS migrant relocation operations
WASHINGTON, D.C. — Yesterday, U.S. Senator Alex Padilla (D-Calif.), Ranking Member of the Senate Judiciary Immigration Subcommittee, joined a delegation of U.S. Senators in traveling to Naval Station Guantánamo Bay, Cuba (GTMO) to conduct oversight of the ongoing Department of Defense activities to support the Department of Homeland Security in the unlawful relocation of migrants.
The delegation was led by Senator Jack Reed (D-R.I.), the Ranking Member of the Senate Armed Services Committee (SASC), and included Senator Jeanne Shaheen (D-N.H.), the Ranking Member of the Senate Foreign Relations Committee, Senator Gary Peters (D-Mich.), the Ranking Member of the Homeland Security and Governmental Affairs Committee, and Senator Angus King (I-Maine), a senior member of SASC.
The Senators conducted a firsthand examination of the missions underway at GTMO. They met with military servicemembers, ICE officers, and DHS officials to fully understand the costs and military readiness impacts of these missions.
After returning from the trip, Senators Padilla, Reed, Shaheen, King, and Peters issued the following statement:
“We salute the outstanding American servicemembers and DHS officials who are working tirelessly at Guantanamo Bay. Our troops in Guantanamo have a uniquely difficult, demanding job that requires great sacrifices by them and their families. We know that border security and immigration enforcement are critical to our national security, and we thank these servicemembers, ICE officers, and defense civilians for their professionalism and candor with us.
“However, after examining the migrant relocation activities at Guantanamo Bay, we are outraged by the scale and wastefulness of the Trump Administration’s misuse of our military. It is obvious that Guantanamo Bay is a likely illegal and certainly illogical location to detain immigrants. Its use is seemingly designed to undermine due process and evade legal scrutiny.
“The staggering financial cost to fly these immigrants out of the United States and detain them at Guantanamo Bay—a mission worth tens of millions of dollars a month—is an insult to American taxpayers. President Trump could implement his immigration policies for a fraction of the cost by using existing ICE facilities in the U.S., but he is obsessed with the image of using Guantanamo, no matter the cost.
“Worse, President Trump is undermining our military readiness at a perilous moment in the world. We met with dozens of servicemembers who were rushed to Guantanamo Bay without notice, leaving their critical day-to-day military missions behind in order to build tents that should never be filled and guard immigrants who should never be held there. Our troops will always answer the call and get the job done, but their invaluable time and resources are being carelessly wasted by the President on this mission.
“We are also angered that we had to fly to Cuba to get answers to the questions we’ve been asking the Trump Administration for months. By steadfastly ignoring Congress, Defense Secretary Hegseth and Homeland Security Secretary Noem are forcing their servicemembers and officers on the ground to try to make sense of Trump’s contradictory and political orders without any guidance or support.
“We are calling on the Trump Administration to immediately cease this misguided mission. The migrant relocation operation at Guantanamo Bay is unsustainably expensive, operating under questionable legal authority, and harmful to our military readiness.”
Last month, Padilla denounced Trump’s relocation of immigrants from the United States to Guantánamo Bay as unlawful and demanded answers regarding these relocations. In the letter, Padilla and the other Senators emphasized that noncitizens in ICE custody are entitled to legal protections under immigration law and the Constitution, including due process.

MIL OSI USA News –

March 30, 2025
MIL-OSI United Nations: Drug traffickers running routes through war zones, top UN official warns

Source: United Nations MIL OSI

10 March 2025 Law and Crime Prevention

A “new black market” for synthetics and drug trafficking through war zones are fuelling instability around the world, the chief of the UN drugs and crime office said on Monday.

“Today, the illicit drug market is becoming more unpredictable, driven by the impact of synthetic drugs,” Ghada Waly, Director-General of the UN Office on Drugs and Crime (UNODC), said, addressing the opening of the latest session of the Commission on Narcotic Drugs in Vienna.

“Trafficking routes run through war zones and rule of law vacuums, from Haiti to the Levant to the Golden Triangle, fuelling instability.”

Tracking the global illicit drug trade

With over 2,000 participants and 179 side events, the commission’s session takes place from 10 to 14 March, with experts from around the world taking stock of the narcotic drugs trade as countries grapple with deadly tides of opioids like fentanyl while also highlighting gains made through joint operations.

For its part, UNODC supports more than 180 border control units in 87 countries to intercept drug flows. In 2024, UN-facilitated seizures included 300 tonnes of cocaine, 240 tonnes of synthetic drugs and 100 tonnes of precursors.

“We are facilitating backtracking investigations, bringing together law enforcement agencies and prosecutors from source, transit and destination countries,” Ms. Whaly explained.

Watch the opening session here:

A new black market

She also warned of emerging threats. Technology is radically transforming and accelerating how drugs are sold and distributed, with the dark web having created a “new black market” for synthetic drugs and precursors, Ms. Whaly said.

“Cryptocurrencies allow traffickers to move illicit profits undetected, and social media platforms have become major channels for promoting and advertising drugs online, particularly targeting young people and vulnerable users,” she said.

She also cautioned that drug trafficking networks are capitalising on these changes to expand their reach.

Chasing the most urgent threat

One of the biggest threats is synthetic drugs, she said. Synthetic manufacturing labs are being uncovered in new countries and regions. Indeed, more than 1,300 distinct psychoactive substances have been reported to UNODC to date.

At the same time, amphetamine-type stimulants and pharmaceutical opioids are registering record seizures. Synthetic opioids of the nitazine class are on the rise, with 26 different substances reported to UNODC so far, she added.

“Synthetic drugs have become one of the most urgent and elusive drug challenges that we face,” Ms. Whaly said. “They are evolving every day, expanding in reach and growing in potency.”

Clandestine labs

Clandestine production laboratories are emerging in parts of the world typically not known to produce synthetic drugs, Ms. Whaly said.

The methods to manufacture drugs and the means to traffic them are constantly evolving. Now, the internet is growing as a marketplace for drugs as well as a platform to exchange knowledge on how to make them.

Unlike plant-based substances, synthetic drugs can be manufactured quickly, at a low cost, almost anywhere in the world. They can also be moved across borders in bulk, often concealed in legitimate exports or in such large quantities that individual seizures “barely make a dent”, Ms. Whaly said.

“Simply put, they are harder to identify, intercept and interrupt,” she added.

UNODC

A drug seizure operation in South Africa.

Fuelling instability

Every region has suffered from the spread of synthetic drugs, she said, citing several examples:

In the Middle East and Africa, the captagon trade – a highly addictive stimulant popular on the battlefield – has been fuelling instability, with production and smuggling now deeply intertwined with conflict, Ms. Whaly said.

In Iraq, seizures of the drug surged by more than 3,300 per cent between 2019 and 2023, with authorities seizing 4.1 tonnes in a single year.

Large stockpiles were discovered in Syria, she said, adding that the situation following the fall of Assad requires close monitoring and attention.

In Southeast Asia, authorities seized a record 190 tons of methamphetamine in 2023, with criminal networks exploiting the region’s porous borders to move their product. Meth products are often found in heroin, vapes and counterfeit tablets and can be even more potent than fentanyl.

The Commission on Narcotic Drugs was established by Economic and Social Council (ECOSOC) in 1946 to assist in supervising the application of the international drug control treaties. Learn more about the commission here.

MIL OSI United Nations News –

March 30, 2025
MIL-OSI United Nations: Afghanistan: Opium prices approach historic peaks, crime syndicates benefit

Source: United Nations MIL OSI

12 March 2025 Law and Crime Prevention

Prices for opium in Afghanistan have increased tenfold since the de facto authorities imposed a drug ban in 2022 following their takeover in Kabul, latest UN data shows.

One kilogramme of opium cost $750 last year, up from $75 just three years ago, compensating sellers for the loss in overall production and poppy fields, according to the UN Office on Drugs and Crime (UNODC).

“Heroin and opium seizures are down about 50 per cent in weight since 2021,” the UN agency reported, highlighting that the post-ban decrease in production in Afghanistan has led to a decline in opiate trafficking.

Opium is the naturally occurring primary active ingredient used in the production of heroin, a more potent, synthetic drug. The three main global sources of illegal opium are Afghanistan, Colombia and Myanmar.

Because of the higher prices, “massive profits are still being made, primarily benefiting high-level traders and exporters in organised crime groups,” UNODC noted.

Dwindling stockpiles

The UN agency estimates that opiate stocks at the end of 2022 totalled 13,200 tonnes, enough to potentially meet demand for Afghan opiates until 2027.

“The surge in opium prices and the substantial stockpiles mean that drug trafficking in Afghanistan remains a highly profitable illicit trade,” said UNODC executive director Ghada Waly.

“The profits are being channeled to transnational organised crime groups, destabilising Afghanistan, the region and beyond. We need a coordinated counter-narcotics strategy that targets trafficking networks while at the same time investing in viable economic livelihoods for farmers to provide long-term stability for Afghanistan and its people.”

Afghanistan’s stockpiles before the drop in opium cultivation are believed to have been worth between $4.6 billion and $5.9 billion, or roughly 23 to 29 per cent of the country’s economy in 2023. This may have helped some ordinary Afghans to withstand the crippling economic problems the country has faced since the return of the de facto authorities, UNODC said.

Farmers’ struggle

Nevertheless, with 60 per cent of stockpiles likely in the hands of large traders and exporters and only 30 per cent of farmers holding “small to modest” reserves in 2022, “most farmers who previously cultivated opium are likely experiencing severe financial hardship,” the UN agency warned.

Sustainable economic alternatives are urgently needed to discourage them from returning to poppy cultivation, particularly given today’s high opium prices.

The UN agency also warned that the continued shortage of opium may motivate buyers and sellers to look to alternative drugs that are potentially even more harmful than heroin, such as fentanyl or other synthetic opioids.

MIL OSI United Nations News –

March 30, 2025
MIL-OSI Global: Signal-gate: a national security blunder ‘almost without parallel’

Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor

Depending on what you think of Donald Trump, his administration could fit either of the following two descriptions. Chaotic, vindictive and accident-prone, marked by mendacity, driven by impulse and bent on securing the will of the leader, rather than – as in the US constitution – the will of the people. Or it could be a government masterminded by a man playing 4D chess while all around him are playing chequers. A president whose deal-making skills and focus on outcomes ensure the security and prosperity of America and its allies.

If you base your assessment on the people Trump has chosen as his key national security advisers then, after the recent Signal chat group intelligence debacle, you’d almost certainly opt for chaotic and accident-prone, at the very least.

Looking around the Signal chatroom, who do we have? National security advisor Mike Waltz, Vice-President J.D. Vance, secretary of state Marco Rubio, defense secretary Pete Hegseth, director of national intelligence Tulsi Gabbard, CIA director John Ratcliffe and a supporting cast of other senior Trump staffers. And, unwittingly, the editor-in-chief of the Atlantic, Jeffrey Goldberg.

Heads must roll, say Trump’s critics. But who from this hydra-headed beast should take the fall? Should it be Waltz, who invited Goldberg to the chat group? Or Hegseth, who posted operational details of a US attack, including the when, where and how, hours before it was due to take place? Should it be Vance, whose swipe at America’s freeloading European allies has caused considerable angst across the Atlantic?

Or perhaps one or another of Gabbard and Ratcliffe, who sat in front of the Senate select committee on intelligence on Tuesday and maintained that no classified material or “war plans” had been revealed to the group – sworn evidence now revealed to be unreliable at best?

Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

At present it seems as if none of them are going to pay for their dangerous incompetence. Instead their ire is turned on Goldberg, who has variously been called a “sleazebag” by Trump himself, “loser” and the “bottom scum of journalists” by Waltz and a “deceitful and highly discredited, so-called journalist who’s made a profession of peddling hoaxes time and time again” by Hegseth.

Robert Dover of the University of Hull, whose research centres on intelligence and national security, believes this is a “national security blunder almost without parallel”. He points to the hypocrisy of people like Hegseth who savaged Hillary Clinton for using a private email server to conduct official business when she was secretary of state under Barack Obama.

Dover also notes the damage the episode will have done to America’s already shaky relations with its allies in Europe. Being disparaged by the vice-president as freeloaders and dismissed by the defense secretary as “pathetic”, he believes, will be “difficult to unsee”.

Read more:
Signal chat group affair: unprecedented security breach will seriously damage US international relations

But credit where it’s due, it appears that US diplomacy may at least be bearing some – limited – fruit. At least, that is, if the two partial ceasefires recently negotiated between Russia and Ukraine actually materialise. That’s a fairly big if, of course. Despite a pledge by both sides that they could support a deal to avoid targeting each other’s energy infrastructure, there’s no sign yet of a cessation of attacks.

And there has been a degree of scepticism over the recently announced plan for a maritime ceasefire to allow the free passage of shipping on the Black Sea. Critics say this favours Russia far more than Ukraine. Over the course of the war, Ukraine has successfully driven Russia’s Black Sea fleet away from its base in Crimea, giving it the upper hand in the maritime war. But maritime strategy expert, Basil Germond, says the situation is more nuanced, and the deal represents considerable upside for Ukraine as well.

Read more:
Russia has most to gain from Black Sea ceasefire – but it’s marginal, and Ukraine benefits too

Setting aside America’s eventful recent forays into foreign relations, there’s a major domestic fix brewing which many US legal scholars believe could plunge the country into a constitutional crisis.

Anne Richardson Oakes, an expert in US constitutional law at Birmingham City University, anticipates a potential clash between between the executive and the judiciary which could threaten the separation of powers that lies at the heart of American democracy.

Oakes observes there are more than 130 legal challenges to Trump administration policies presently before the courts, some of which will end up in front of America’s highest legal authority, the Supreme Court, which is tasked with assessing the constitutionality of those policies. She warns that we’ve already seen evidence that Trump and his senior officials resent what they consider to be interference from the judiciary into the legitimate executive power of the elected president.

Will there be a stand-off where the Trump administration simply ignores the Supreme Court’s ruling? It’s happened before, says Oakes. In the mid-20th century, in Little Rock, Arkansas, when the governor used the state’s national guard to prevent the court-ordered desegregation of public schools. On that occasion the then president, Dwight D. Eisenhower, sent in federal troops to enforce the court’s ruling and a constitutional crisis was averted.

Read more:
US stands on the brink of a constitutional crisis as Donald Trump takes on America’s legal system

But what if it’s the serving president who chooses to ignore a Supreme Court ruling? This was the case in the 1830s when greedy cotton farmers in Georgia were bent on forcing the Native American peoples off their lands. The Cherokee actually took the state of Georgia to the Supreme Court, which ruled that as a “dependent nation” within the United States they were entitled to the protection of the federal government and that the state of Georgia had no right to order their removal.

As historian Sean Lang of Anglia Ruskin University recounts, Georgia ignored the Supreme Court’s ruling and sent in troops to expel the Cherokee who were then forced to move to new lands in a journey known as the “Train of Tears”. Lang writes that then US president, Andrew Jackson, a populist advocate of states’ rights and former “Indian fighter”, ignored the Supreme Court’s ruling, “sneering that [Chief Justice John] Marshall had no means of enforcing it”.

Lang concludes: “It’s a history lesson Greenlanders, Mexicans and Canadians – and indeed many Americans who may fall foul of this administration and seek recourse to the law – would do well to study.”

Read more:
Trump’s America is facing an Andrew Jackson moment – and it’s bad news for the constitution

Trump’s chilling effect

The Trump administration’s antipathy towards judges who have opposed its policies have extended towards those law firms who have in some way crossed the US president. But the legal system is not the only sector to feel the chilling effect of Trump’s displeasure, writes Dafydd Townley.

The world of higher education in the US is also apprehensive after the administration went after Columbia University, home to some of the most outspoken protest over US policies towards Israel and Gaza. Columbia has recently had to agree to allow the administration to “review” some of its academic programmes, starting with its Middle Eastern studies, after the administration threatened to cancel US$400 million (£310 million) of government contracts with the university.

The news media is also under heavy pressure. The administration has taken control of the White House press pool from the non-partisan White House Correspondents’ Association and has blackballed Associated Press for refusing to call the Gulf of Mexico the Gulf of America. We’ve also seen Trump himself bring lawsuits against media organisations he judges to have crossed him. And now the president has called for the defunding of America’s two biggest public broadcasters, NPR and PBL, for what he perceives as their liberal bias.

Townley, an expert in US politics at the University of Portsmouth is concerned that this all adds up to a deliberate attempt to cripple institutions which underwrite American democracy.

Read more:
Donald Trump’s ‘chilling effect’ on free speech and dissent is threatening US democracy

Popularity falls as prices rise

Trump’s leadership continues to be very polarising, writes Paul Whiteley, a political scientist and polling specialist at the University of Essex, who has spent years studying political trends in the US. Looking at the most recent numbers, Whiteley finds that while Trump’s approval ratings are fairly steady at 48% approval and 49% disapproval, when you dig down you find that only 6% of registered Democrats approve of his performance, while 93% disapprove. For registered Republicans it’s almost exactly the opposite.

Whiteley takes his analysis further, looking at measures such as consumer sentiment, which has fallen sharply since January, with talk of tariffs and the return of inflation affecting people’s confidence in the economy. He points out there tends to be a fairly strong historical correlation between confidence in the economy and popular approval of a president’s performance.

Read more:
Three graphs that show what’s happening with Donald Trump’s popularity

Another factor which will surely affect people’s confidence in the government are the job losses flowing from Elon Musk’s work as “efficiency tsar”. Thomas Gift, the director of the Centre on US Politics at University College London, believes that federal job losses as a result of Musk’s cuts are spread indiscriminately among Democrat and Republican states. As a result there may be some Republican voters who are experiencing what he calls “buyer’s remorse”.

At the same time, rising inflation is flowing into the cost of living, something many people voted for Trump to punish the Democrats for. As Gift points out, both parties are experiencing a dip in support at present as people reject politics for having a generally negative effect on their lives. But from now, it’ll be the Republicans who will feel the sting of popular disapproval more keenly.

Read more:
Trump’s job cuts are causing Republican angst as all parties face backlash

World Affairs Briefing from The Conversation UK is available as a weekly email newsletter. Click here to get updates directly in your inbox.

– ref. Signal-gate: a national security blunder ‘almost without parallel’ – https://theconversation.com/signal-gate-a-national-security-blunder-almost-without-parallel-253245

MIL OSI – Global Reports –

March 29, 2025
MIL-OSI Europe: The Nutrition for Growth Summit mobilizes over US$27 billion to reach nutrition-related Sustainable Development Goals (28 Mar. 2025)

Source: Republic of France in English
The Republic of France has issued the following statement:

On March 27 and 28, 2025, at the Nutrition for Growth Summit (N4G), which was organized by the Ministry for Europe and Foreign Affairs under the auspices of Minister Delegate for Francophonie and International Partnerships Thani Mohamed-Soilihi, the international community made ambitious commitments to tackle the challenge of malnutrition in all its forms. Close to US$28 billion in nutrition funding to reach Sustainable Development Goals was announced, attesting to the exceptional degree of mobilization and renewed commitment to multilateralism.

In total, the international community’s financial commitments in support of nutrition represent US$27.55 billion dollars. The Summit Chair’s final declaration helped reaffirm our shared commitment to global nutrition.

One hundred twenty-seven delegations, including the governments of 106 countries, in addition to numerous international organizations, civil society organizations, development banks, philanthropic organizations, research institutions, and businesses, met together to help put an end to this scourge, which hinders countries’ economic and social development and traps communities in an intergenerational cycle of poverty. Over 400 commitments were registered on the Nutrition Accountability Framework platform.

France remains fully committed to nutrition and food aid

As the N4G Summit host country, France has committed to continuing its efforts in support of nutrition and, between now and 2030, plans to invest €750 million in projects supported by the French Development Agency in particular, as well as in the Ministry for Europe and Foreign Affairs’ food aid programs. In addition, France has announced that it will be boosting food sustainability education, promoting the prevention and early identification of malnutrition, and improving the nutritional quality of the food supply at the national level.

Thani Mohamed-Soilihi, Minister Delegate for Francophonie and International Partnerships, explains:

“This summit is a collective success for France and the international community, whose vigorous efforts have demonstrated their commitment to tackling the challenge of malnutrition. That is the strength of multilateralism: the ability to tackle challenges that know no boundaries. Malnutrition has a particularly harmful impact on young children and pregnant and breastfeeding women. We cannot look away when one out of every two children under the age of five dies from malnutrition. Proper nutrition is a challenge shared by all of our societies. It is the key to unlocking a shared, more prosperous future. This summit is not limited to financial investments; it also provides for innovative, effective investments that will have a lasting impact on development.”

Ambitious political and financial commitments in support of nutrition

The European Union in particular mobilized its efforts, committing a total of €6.5 billion to fight malnutrition, of which €3.4 billion was allocated by the European Commission.

Other countries, including Madagascar, Côte d’Ivoire, Guatemala and Bangladesh also made noteworthy political and financial commitments to tackling the burden of malnutrition in their countries.

The development banks also mobilized their efforts, particularly the World Bank and the African Development Bank, which pledged US$5 billion and US$9.5 billion respectively until 2030.

Lastly, philanthropic organizations, civil society organizations and the private sector account for a substantial share of financial commitments. Philanthropic organizations will raise more than US$2 billion in the coming years to combat malnutrition.

One of the Summit’s highlights was the adoption of a youth declaration calling for young people to play a greater role in decision-making in order to promote the voices of the communities most affected by malnutrition.

Nutrition, a challenge at the heart of public policy and sustainable development

Nutrition enables all individuals to achieve their full potential. But all countries are facing at least one type of malnutrition, whose cost to the global economy is estimated at US$41 trillion over the coming decade.

In an uncertain international climate, the Summit helped refocus public policy on nutrition through ambitious commitments to transform the lives of millions of people worldwide. By investing in nutrition, stakeholders have opted to support policies that have a positive impact on health, social protections, gender equality, the sustainability of food systems, climate and education. Nutrition is a particularly effective choice because on average, each euro invested in this area creates 23 euros in wealth.

MIL OSI Europe News –

March 29, 2025
MIL-OSI China: CK Hutchison’s Panama Canal deal to be reviewed

Source: China State Council Information Office 3

China’s top market regulator said on Friday it will carry out an antitrust review of CK Hutchison’s possible Panama Canal ports’ deal in accordance with laws to ensure fair market competition and protect public interests, according to the website of the State Administration for Market Regulation.

In a response to media agency Hong Kong Ta Kung Wen Wei, a spokesman of the second antitrust enforcement division of the SAMR said that the regulator has noted the deal and will conduct an antitrust review.

The move came as Hutchison Ports, a subsidiary of Hong Kong-based conglomerate CK Hutchison Holdings owned by tycoon Li Ka-shing, is reportedly in the process of selling most of its global ports business to BlackRock on April 2 for an expected $22.8 billion.

MIL OSI China News –

March 29, 2025
MIL-OSI China: Regulator to conduct antitrust review of CK Hutchison’s Panama Canal deal

Source: China State Council Information Office

China’s top market regulator said on Friday it will carry out an antitrust review of CK Hutchison’s possible Panama Canal ports’ deal in accordance with laws to ensure fair market competition and protect public interests, according to the website of the State Administration for Market Regulation.

In a response to media agency Hong Kong Ta Kung Wen Wei, a spokesman of the second antitrust enforcement division of the SAMR said that the regulator has noted the deal and will conduct an antitrust review.

The move came as Hutchison Ports, a subsidiary of Hong Kong-based conglomerate CK Hutchison Holdings owned by tycoon Li Ka-shing, is reportedly in the process of selling most of its global ports business to BlackRock on April 2 for an expected $22.8 billion.

MIL OSI China News –

March 29, 2025
MIL-OSI USA: Ernst on Justice for Sarah Root

US Senate News:

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

WASHINGTON – One week ago today – after nearly a decade of work by U.S. Senator Joni Ernst (R-Iowa) to bring closure for the Root family – Sarah Root’s killer, an illegal immigrant who escaped due to a loophole in the law, was delivered into U.S. custody to face justice.
Since Sarah Root was killed in 2016, Ernst has been advocating to bring her killer to justice alongside Sarah’s parents, Michelle and Scott Root. This year, President Trump made Ernst’s Sarah’s Law the law of the land to help ensure this never happens to another family.

Watch Senator Ernst and Michelle Root’s full interview with KCCI here.
“‘I was in disbelief. I had come to the fact that I would probably not see justice in my lifetime for my daughter’… [Michelle] Root credits Iowa Senator Joni Ernst. ‘Senator Ernst has become like family to us.’ Earlier this year, Congress passed the Laken Riley Act, which includes Sarah’s Law. Ernst says it requires authorities to detain any undocumented immigrant who commits a crime resulting in death or serious injury. With Sarah’s Law in place and Mejia awaiting trial. Root says she’s closer to finding closure. ‘Those two things were what we had been fighting for the last nine years. We will never get closure until we meet Sarah again, of course, but it closes that chapter.’”

KCSI | Ernst Remembers Root Family as Sarah Root’s Killer is Now in U.S. Custody
“I know there are a ton of people to thank about this, but I need to because we’re with Senator Ernst and as you said, she has brought from the beginning to get Sarah’s Law passed. I could not have asked for a better person by our side fighting with us and for us… Even when I wanted to quit, she kept going.”

Watch Senator Ernst’s full interview here.
“This has been nine years in the making. It was nine years ago, at the end of January, on her college graduation day, that young Sarah Root was killed by an illegal immigrant… Thanks to the Trump administration, thank you to Secretary Noem and Secretary Rubio. We were able to locate this illegal migrant who had killed Sarah Root, and they were able to bring him back to face justice. So it means a lot to me, but especially means a lot to her parents, Michelle Root and Scott Root of Council Bluffs, Iowa.”

Watch Senator Ernst’s full Newsmax interview here.
“President Donald Trump wanted to do something about it. He never forgot about Sarah Root. And finally, now this man is going through the U.S. judicial system, and he will be held to account for the killing of sweet Sarah Root, who was only 21 years old when she was killed nine years ago.”
Print Coverage of Ernst’s Advocacy:
Council Bluffs Nonpareil | Sarah Root’s alleged killer extradited from Honduras to Omaha
“In a Friday evening press call, Sen. Joni Ernst announced she had just left Eppley Airfield in Omaha, where Eswin Mejia was taken into U.S. custody. He is being held in the Douglas County Jail in Nebraska as he awaits trial in Root’s death.”
“Ernst called the case a long-fought battle that has spanned nearly a decade, praising the Trump administration for acting to ‘prevent this from happening to someone else’s daughter’ while rebuking the Biden administration for removing Mejia from ICE’s Most Wanted list.”
KWQC | Alleged killer of Iowan Sarah Root extradited from Honduras
“Republican U.S. Sen. Joni Ernst from Iowa, who worked for nine years to pass Sarah’s Law, praised President Donald Trump for extraditing Mejia.”
Omaha World Herald | Honduran man accused in fatal 2016 crash extradited to Omaha, held on $100 million bail
“[Ernst is] incredibly thankful for President Trump’s strong action, his hardworking administration and steadfast partnership to right this wrong on behalf of Iowa families.”
Radio Iowa | Honduran charged with 2016 murder of Iowan extradited to Omaha
“The first bill Trump signed into law this year includes what’s called ‘Sarah’s Law.’ It requires authorities to detain any illegal immigrant who is accused of murdering or seriously injuring someone in the U.S. Ernst and other members of Iowa’s congressional delegation had sponsored the legislation for the past eight years.”
KCRG| Senator Ernst applauds Trump admin following the extradition of Sarah Root’s murderer
“Since this incident, Senator Ernst has been actively fighting for justice for the Root family. ‘For over nine years, I have called for justice on behalf of Sarah Root, and today President Trump and his administration are delivering. Sarah should still be alive today, and for too long Michelle, Scott, and the rest of her loved ones have been forced to live with the fact that her killer was running free.’”
KETV| Man accused in Omaha motor vehicle homicide that earned national attention to be extradited to United States
“After years of trying to get the bill passed in both chambers of Congress, ‘Sarah’s Law’ was signed by Speaker Mike Johnson and made its way to President Donald Trump’s desk. U.S. Sen. Joni Ernst spearheaded the effort.”
Breitbart | Trump Administration Secures Extradition of Illegal Alien Accused of Killing 21-Year-Old Sarah Root
“Ernst has worked for years on Root’s case, including working with the Trump administration on Mejia’s extradition. In January, Trump signed Sarah’s Law, authored by Ernst, into federal law which will require illegal aliens who commit violent crimes to remain detained in police custody.”
KIOW| Ernst on the Apprehension of Eswin Mejia
“Senator Joni Ernst has continually fought for the apprehension and extradition of Mejia to the United States. She was at the airport when Mejia landed on U. S. soil and was taken into custody.”
WOWT | $100 million bond set for man charged in 2016 Omaha street racing crash that killed Sarah Root
“The fact that Mejia was able to bond out and subsequently flee the U.S. led Sen. Joni Ernst (R-Iowa) to create ‘Sarah’s Law,’ named after Root, which requires illegal immigrants who have committed violent crimes against Americans to be detained regardless of bail status.”
KFJB | ESWIN MEJIA TO STAND TRIAL NEARLY A DECADE AFTER THE KILLING OF SARAH ROOTS
“Trump met with Root’s mother and her father, Scott Root, in mid-2016 and Trump talked about their daughter’s death on the campaign trail. The first bill Trump signed into law this year includes what’s called ‘Sarah’s Law.’ It requires authorities to detain any illegal immigrant who is accused of murdering or seriously injuring someone in the U.S. Ernst and other members of Iowa’s congressional delegation had sponsored the legislation for the past eight years.”
TV Coverage of Ernst’s Advocacy:

Watch KETV’s coverage here.
“Senator Joni Ernst has been a champion for Sarah and her family, and her efforts and leadership were crucial in Mejia’s extradition.”
“The story gained national attention after Congress passed Sarah’s Law. It requires police to detain an undocumented immigrant who commits a crime resulting in death or injury.”

Watch KCCI’s coverage here.
“He is now in jail in Omaha…finally, Edwin Mejia will face long overdue consequence after breaking our laws and taking an innocent life.”

Watch KCRG’s coverage here.
“U.S. Senator Joni Ernst worked for nine years to pass Sarah’s Law. That was an amendment to the Laken Riley Act…Ernst released a statement thanking the Trump administration for the work to extradite Mejia.”

Watch KTIV’s coverage here.
“The case inspired lawmakers to craft Sarah’s Law, which was recently signed into law by President Trump as part of the Laken Riley Act. Tonight, one of the lawmakers who led that legislation, Iowa Senator Joni Ernst, celebrated the news that Mejia will finally stand trial.”

Watch KWQC’s coverage here.
“Sarah’s family helped pass a law in her honor, requiring immigrants to be detained if they’re involved with the death or serious injury of another person.”
“Iowa Senator Joni Ernst has demanded justice for Root’s death since she died in 2016. Today, she celebrated a milestone moment in her quest for justice, saying, ‘finally, Edwin Mejia will face the long overdue consequences after breaking our laws and taking an innocent life. I’m incredibly thankful for President Trump’s strong action, his hardworking administration and steadfast partnership to right this wrong on behalf of Iowa families.’”

Watch One America News’ coverage here.
“Iowa Senator Joni Ernst became a leading voice in the fight for justice for Root as the family came from Iowa.”

MIL OSI USA News –

March 29, 2025
MIL-OSI USA: SBA Offers Relief to New Mexico Small Businesses and Private Nonprofits Affected by November Drought

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in New Mexico who sustained economic losses caused by the drought beginning Nov. 1, 2024.

The disaster declaration covers the counties of Catron, Cibola, Chaves, De Baca, Doña Ana, Eddy, Grant, Guadalupe, Hidalgo, Lea, Lincoln, Luna, Otero, Roosevelt, Sierra, Socorro and Torrance in New Mexico, as well as Apache, Cochise and Greenlee counties in Arizona, and Andrews, Cochran, Culberson, El Paso, Gaines, Hudspeth, Loving, Reeves, Winkler and Yoakum counties in Texas.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications to SBA no later than Nov. 25.

###

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

MIL OSI USA News –

March 29, 2025
MIL-OSI USA: AG Brown opposes White House elimination of regulations implementing nation’s bedrock environmental law

Source: Washington State News

OLYMPIA — Attorney General Nick Brown led a coalition of 19 attorneys general opposing the Council of Environmental Quality (CEQ)’s interim final rule that repeals its regulations implementing the National Environmental Policy Act (NEPA). NEPA, written by former Washington Senator Henry M. “Scoop” Jackson, established the nation’s bedrock environmental law requiring the federal government to study environmental impacts before taking significant actions.

Since 1978, CEQ’s regulations have set out specifics for federal agencies to comply with NEPA, including analysis and consideration of the environmental impacts of projects that are located on federal land to receive federal funding or need federal approvals. NEPA mandates detailed environmental review for all major federal actions — like power plants, roads, pipelines and large logging projects — that the federal government plans to undertake.

The CEQ’s repeal revokes those rules and only allows the public 30 days to comment, even though the outcome is predetermined: the rules will be eliminated. It is an unprecedented attempt from the Trump Administration to undermine federal environmental review and community protections without a meaningful opportunity for public input.

In a comment letter, the attorneys general argue that the interim final rule violates the Administrative Procedure Act, Endangered Species Act and NEPA. Eliminating CEQ’s NEPA regulations will create uncertainty and delay project approvals, reduce public participation and lead to less-informed environmental decisions.

Former Washington Senator Jackson introduced NEPA in the Senate in 1968 and it passed with overwhelming bipartisan support in Congress. President Richard Nixon signed it into law on Jan. 1, 1970. NEPA has been called “the Magna Carta of the nation’s environmental laws.”

CEQ’s regulations implementing NEPA were first adopted in 1978 and remained unchanged for decades. When the council abandons its NEPA regulations, federal agencies may weaken their environmental review of federal projects and refuse to consider and evaluate potential harmful impacts to expedite project approvals.

Joining Attorney General Brown in sending the comment letter are the attorneys general of Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, Oregon, Vermont and Wisconsin.

A copy of the comment letter can be found here.

-30-

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MIL OSI USA News –

March 29, 2025
MIL-OSI United Nations: Fifth Committee Concludes Resumed Session amidst Concerns Over Working Methods, Meagre Results

Source: United Nations General Assembly and Security Council

Note: Full coverage of today’s meeting of the Fifth Committee will be available Tuesday, 1 April.

While the Fifth Committee (Administrative and Budgetary) concluded the first part of its resumed seventy-ninth session today with the consensual approval of five texts, several delegates expressed concern that the results were disappointing and minimal.

At the outset of the meeting, the Committee approved — without a vote — draft resolutions titled “Special subjects relating to the programme budget for 2025” (document A/C.5/79/L.31); “Human resources management” (document A/C.5/79/L.33); “Joint Inspection Unit” (document A/C.5/79/L.32); and “Review of the implementation of General Assembly resolutions 48/218 B, 54/244, 59/272, 64/263, 69/253 and 74/257” (document A/C.5/79/L.30). It also approved, without a vote, the draft decision titled “Questions deferred for future consideration” (document A/C.5/79/L.34).

Speaking afterwards, the representative of the European Union, in its capacity as observer, pointed to the Committee’s role in addressing budgetary matters and providing a platform for Member States’ to discuss substantive administrative issues that keep the Organization operating smoothly. “However”, she emphasized, “we must acknowledge that we have not been successful in providing the needed guidance, which should make us think about how we — as a Committee — can become more efficient and effective.”

While recognizing delegates’ efforts to reach consensus, she said that it was disappointing that no resolutions pertaining to the Organization’s efficiency were approved, particularly in the areas of accountability and supply-chain management. This stark outcome raises serious questions about the Committee’s organization of work. “Clearly, extending this session from four to five weeks — at considerable cost for the Organization and for ourselves — was wasteful”, she said, stating that the Committee does not need more time, but earlier, more active and constructive engagement.

The representative of the United States echoed this disappointment, noting that delegates had invested five weeks of time with minimal results. He expressed particular concern over the lack of action on supply-chain management, organizational resilience and the annual review of the Office of Internal Oversight Services (OIOS). Stressing that the Committee must exercise proper oversight to ensure the Organization keeps pace with changes, he added: “The UN80 Initiative is a clear message that the UN must do better to streamline processes and ensure our time together turns into action.”

The representative of the United Kingdom, too, expressed regret over the lack of action, deferrals and “retractable attitudes”, noting that a single delegation blocked agreement on some issues. While the Committee did agree on revised estimates to finance a General Assembly resolution to combat Islamophobia, it did not identify sustainable solutions to deal with the liquidity crisis. Stating that the Committee has strayed from its technical responsibilities, she said: “It can do better — and must do better — to deliver technically informed outcomes.”

Also dissatisfied with the Committee’s meagre results, Japan’s delegate said that the body missed the opportunity to present its collective views to the Secretariat. “We tell the UN to be more efficient, and yet our working methods are probably the least efficient,” he observed, emphasizing: “We tell the UN to cut costs and, yet, we fail to provide the guidance to do so.” While recognizing efforts made to reach compromises and avoid votes in this resumed session, he underscored: “We all have to do better.”

The representative of Israel also noted delegates’ constructive engagement despite the difficulty of the issues under consideration. On that, she pointed to consensus on the resolution to provide additional funding to support a General Assembly resolution that aims to combat Islamophobia. “Intolerance has no place in the Organization,” she stressed, adding that concrete measures should be taken to combat all forms of religious discrimination — including a dangerous increase in anti-Semitism.

Pakistan’s delegate also welcomed the consensual outcome on that resolution, spotlighting the “pleasant coincidence” that it was negotiated during the month of Ramadan. “The adoption of this resolution carries spiritual meaning for our delegation,” he noted. “We look forward to working with all delegation members in the upcoming sessions in the same spirit,” he added.

While pleased that consensus was reached on many issues, Iraq’s representative, speaking for the Group of 77 and China, expressed concern that a substantive resolution was not reached on comprehensive agreements for human-resources management and accountability. On that, he expressed support for more opportunities for interns from developing countries. Concluding, he pointed out that the Organization’s liquidity crisis can only be resolved if Member States pay their assessments in full and on time.

Closing the meeting, Egriselda Aracely González López (El Salvador), Chair of the Fifth Committee at its seventy-ninth session, said: “I know it wasn’t easy — I know that many of you would have wanted more — but we mustn’t lose sight of the fact that results are the result of collective effort.” Thanking those present — and acknowledging that “some hours of sleep were lost”, but that it is important to “see the glass half-full, rather than half-empty” — she said: “We have agreements that are relevant for the Organization to continue implementation of its mandates.”

…

MIL OSI United Nations News –

March 29, 2025

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